Greater happiness for a greater number Essay Example for Free

More prominent bliss for a more noteworthy number Essay 1. Significant qualities and shortcomings of this objective. a.â Major Strengths I believe that the meaning of bliss introduced in the talk is basic and elegant.â also, I feel that the very endeavor to address the issue of joy is important and should shape the premise of brain science. b.â Major Weaknesses While I concur that brain research ought to have satisfaction as the ideal mental state from which to address patient’s emotional wellness issues, I think there are a few shortcomings in the way to deal with decide how to get clientsâ€or individuals all in all, to see precisely what comprises bliss. 2. Significant individual experiences picked up In the wake of investigating the talk materials and much idea, I thought that it was intriguing that the way to deal with joy is restricted uniquely to â€Å"physical† considerationswhen it is clear that individuals who have all the physical solaces and points of interest are not the most glad. 3. Individual and expert application (assuming any) of a portion of the substance. a. Individual utilization of a portion of the substance While I view myself as a glad individual, I think it is fundamentally from the angle of being blessed to have met my physical needs (positive condition, beneficial encounters, status, assets). In any case, I’m turning out to be increasingly mindful that these things don't solely decide joy. b. Proficient use of a portion of the substance  I am worried that while all the methodologies flop by similarity to characterize man as a creature, they despite everything call him one. Man isn’t basically a creature. Why?â Animals do not have the capacity to have, communicate and fulfill these requirements (e.g., a creature can’t make an ensemble, or make art).â Also, creatures don't execute or make issues for different creatures for reasons of jealousy, abhor or jealousyâ€only people do.â I plan to think about the substance, however to explore and potentially help to grow new thoughts regarding how to help people address their necessities by first understanding that they are as of now complete human beingsâ€no matter their conditions, who basically look for different approaches to communicate. Until we comprehend this we can’t help society. 4. Respond to significant zones of intrigue After some idea about Freud and Maslow’s approaches I started to feel that the imperfections in these two methodologies pervade all ways to deal with a â€Å"model† of joy. Every single significant methodologies are without otherworldliness, or the possibility that man is in excess of a creature with physical necessities. I feel that man is an otherworldly being that is satisfying or communicating, through his body, in view of more significant level needs. I feel that this methodology keeps people unhappy.â Why?â We sustain the legend that just through acquiring physical things, or outside conditions would we be able to accomplish happiness.â I need to make constructive brain research the foundation of my clinical methodology, and utilize instructing models good with a territory I feel needs more investigation: how to affect individuals experiencing torment, to expand their satisfaction expected paying little heed to their â€Å"physical† (social, monetary, and so forth.) conditions.

CSR Strategies Corporate Social Responsibility

Question: Examine about the CSR Strategies for Corporate Social Responsibility. Answer: Presentation: In the ongoing years, another pattern has developed in which the business associations are distinguishing the feasibility of embracing green and ecological benevolent activities. The utilization of natural cordial procedures makes a solid domain for the representatives, expands client dedication and decreases squander. It is additionally identified with the picture improvement and building. The business associations additionally understand that it is their obligation to contribute back to the general public from where it produces its benefits. At present, the natural cordial exercises of the associations are names as CSR (Corporate Social Responsibility) exercises. There are various reasons that propel a business association to venture out to become ecological cordial association (Hart, 2009). Future Fuel, Colorado is a little oil organization. The top administration and the CEO of the organization are engaged to make a natural agreeable association. The organization understands that maintainability rehearses are valuable for lessening the operational expenses as well as cultivate advancement in the association (Urip, 2010). The strategic the association is to offer quality types of assistance to the clients and adding to the general public overall. The supportability practices of the association are indispensable in supporting the general public and offering back to the network. With the reasonable practices, an association can cultivate advancement, decreases its cost and can step forward towards the manageable improvement of the general public. The economical practices permit the association to advance without bargaining the enthusiasm of things to come ages. The altruism acquired through the ecological security and the economical practices will help the association in achieving new clients and setting up a brand name (Roettgers, 2011). In the present, the association is strong towards the activities with respect to ecological security and maintainable turn of events. Nonetheless, the current remain of the association is progressively uninvolved and it doesn't effectively enjoy the ecological assurance exercises. The current stand frequently comes out as an unbiased remain as the organization has not yet taken any solid activity for the natural insurance. The current corporate way of thinking of the association recommends that the organization should firmly bolster the ecological activities. As of now, the organization is making a considerable money related interest in the examination with respect to the recognizable proof of new supportable vitality assets (Hart, 2009). In any case, the association is likewise obliged to take care of to its investors. Presently the association, being a private venture undertaking, is gaining noteworthy ground in the oil business. The productivity proportion of the organization is at standard with the size of the firm. Nonetheless, if the organization needs to develop it needs to contribute intensely on the incorporation of the supportability rehearses in the association. The current benefits of the organization are constrained; be that as it may, embracing the green practices will decrease its operational expenses over the long haul. Different organizations are embracing green strategies to achieve upper hand over different firms in comparable industry. Supportability rehearses builds client certainty and worker commitment with the firm (May, Cheney, and Roper, 2007). Becoming environmentally viable is the new pattern among the business associations. The organizations are rapidly embracing the supportability rehears es because of the expanded client mindfulness and government control. In the event that Future Fuel doesn't change with time, it will get old and breakdown mind time. Present is the high time that the organization receive these practices (Roettgers, 2011). In spite of the fact that the interest in innovative work and outfitting the locales with the sunlight based and vitality power frameworks will be immense monetary weight on the organization at first, it will give benefits in the long haul. Utilizing the sustainable power source assets will lessen the operational expenses of the association. The organization will likewise get profited by the decreased vitality bills. Utilizing these vitality assets will likewise diminish the measure of waste produced in the locales which will decrease the expense related with the waste administration to the organization. It has been approximated that the budgetary venture made by the organization in accomplishing the supportability practices will be remunerated in the coming decade. At that point after, the cost sparing by the organization will be changed into the companys benefit. Other than that, the organization may help its picture in the universal and national commercial center by embracing the maintainability rehearses. It will be helpful for the organization in the up and coming future extension plans (Wills, 2011). Convincingly, it very well may be expressed that receiving the supportability rehearses are helpful for the business associations. Future Fuel, Colorado ought to likewise embrace the green practices to accomplish upper hand. The manageability rehearses are valuable for the associations in elevating their picture, expanding their operational expense and expanding buyer certainty. In spite of the fact that the appropriation of the manageability activities is costlier for the association, over the long haul it diminishes associations use. References Hart, T. (2009). Not-for-profit Guide to Going Green. London: John Wiley and Sons. May, S.K., Cheney, G. furthermore, Roper, J. (2007). The Debate over Corporate Social Responsibility. Oxford University Press. Roettgers, F. (2011). Practicing environmental awareness Together: How to Align Employees with Green Strategies. Natural Pioneers. Urip, S. (2010). CSR Strategies: Corporate Social Responsibility for a Competitive Edge in Emerging Markets. John Wiley Sons. Wills, B. (2011). Green Intentions: Creating a Green Value Stream to Compete and Win. CRC Press.

Delivery!

Delivery! Last weekend was crazy. Crazy good. So good, in fact, that I needed a good week to get my thoughts all organized. (And to realize, whoa, Im nearly halfway done.) But let me start with the most important part: I am now the proud owner of a Brass Rat! The rings design, which I covered previously, was carefully put together by these guys, the Class of 2014 Ring Committee. Im pleased to say that they also have some pretty good taste: Such class! But back to the ring. More than anything, its proof that all this hard work has been paying off tremendously. But I owe my position right now to a lot of people: my past teachers, my professors, my friends from high school and from the Institute, my old coworkers and employers, and my family. All of them believed in me, and told me I can do pretty much anything I set my mind to if I showed the necessary passion, curiosity, and persistence for it. Id be remiss if I didnt give them a shoutout on the blogs here so thanks for everything, guys! You might also be wondering how the night of the ring delivery unfolded. It went awesome. We received our rings at the snazzy-looking John Joseph Moakley Courthouse, which looks way more like a place where youd get fancy rings, or do essentially anything else besides uphold justice and hand out verdicts on felonies and misdemeanors. At least thats the impression that I get when looking at it at night: Photo credit: Gregory E. Fortier, Fortier Fotography. Used with permission! At around 6 or so last Friday, I met a few of the friends, my entourage for the night, in front of the student center. Leave your stereotypes about MIT hygiene and fashion sense at the door, because we looked frickin good, if I do say so myself. A friend of mine from ring comm also got me a few shots of the decorations they threw together, presumably several hours before the first eager sophomore arrived: ICE ICE BABY It all looked really nice on the night of the event, particularly once the sun went down and that crystalline sculpture, carved in the shape of our ring comms logo, was lit by that red-orange glow But I was too busy thinking about decking out my ring finger with an awesome ring. On that front, and unsurprisingly, the courthouse had rings in spades. The estimated retail value of all these rings is at least a bajillion dollars. US dollars. And heres my Brass Rat. There are many others like it, but this one is mine: Mine. ALL MINE. Go buy your own. It weighs a lot on your finger, too! On days when Im not wearing it, Ill sometimes feel as if Im missing something. What I liked most about ring delivery is the fact that practically none of the sophomores had an excuse to study not even me. Thats because our ring delivery was on the final day before dead week, or that time of the semester where we all burrow ourselves into libraries and study room forts to prepare for finals. For many people, there werent any other due dates to worry about, so I got to see a bunch of my friends. MIT liked us, so they put a ring on it :D My friend. (I was going to make the same joke at roughly the same time she said it. Could be why were friends.) Even Anna took a break from a hectic life filled with physics and musical theater to grab her ring. Behold our dorky blogger love, immortalized in a photo: Dawwwww blogger love, the best kind. The timing of ring delivery was especially perfect, though, because I also ended up seeing The Avengers that weekend. Do you know how cool it is to hear Tony Stark rattle off one-liners, and kick butt alongside a bunch of other less important people? All while wearing your Brass Rat?  If you cant even imagine an experience that epic, then youll have your mind blown if and when you come here. All it takes is two years of slogging through classes, and then you can at least have the ring to show for it. Ill let you guys play out the Iron Man fantasies from there. Post Tagged #Brass Rat #Ring Delivery

The Importance of the Supply and Demand Model

Forming the basis for introductory concepts of economics, the supply and demand model  refers to the combination of buyers preferences comprising the demand and the sellers preferences comprising the supply, which  together determine the market prices and product quantities in any given market. In a capitalistic society, prices are not determined by a central authority but rather are the result of buyers and sellers interacting in these markets. Unlike a physical market, however, buyers and sellers don’t have to all be in the same place, they just have to be looking to conduct the same economic transaction. It’s important to keep in mind that prices and quantities are the outputs of the supply and demand model, not the inputs. It’s also important to keep in mind that the supply and demand model only applies to competitive markets — markets where there are many buyers and sellers all looking to buy and sell similar products. Markets that don’t satisfy these criteria have different models that apply to them instead. The Law of Supply and The Law of Demand The supply and demand model can be broken into two parts: the law of demand and the law of supply. In the law of demand, the higher a suppliers price, the lower the quantity of demand for that product becomes.  The law itself states, all else being equal, as the price of a product increases, quantity demanded falls; likewise, as the price of a product decreases, quantity demanded increases. This correlates largely to the opportunity cost of buying more expensive items wherein the expectation is that if the buyer must give up consumption of something they value more to buy the more expensive product, they will likely want to buy it less. Similarly, the law of supply correlates to the quantities  that will be sold at certain price points. Essentially the converse of the law of  demand, the supply model demonstrates that the higher the price, the higher the quantity supplied because of an increase in business revenue hinges upon more sales at higher prices.   The relationship between supply in demand relies heavily on maintaining an equilibrium between the two, wherein there is never more or less supply than demand in a marketplace.   Application in Modern Economics To think of it in modern application, take the example of a new DVD being released for $15. Because market analysis has shown that current consumers will not spend over that price for a movie, the company only releases 100 copies because the opportunity cost of production for suppliers is too high for the demand. However, if the demand rises, the price will also increase resulting in higher quantity supply. Conversely, if 100 copies are released and the demand is only 50 DVDs,  the price will fall to attempt to sell the remaining 50 copies that the market no longer demands.   The concepts inherent in the supply and demand model further provide a backbone for modern economics discussions, especially as it applies to capitalist societies. Without a fundamental understanding of this model, it is almost impossible to understand the complex world of economic theory.

The Documentary Organic We Trust by Kip Pastor Essay

Have you ever wondered if organic foods are actually better for you? What if organic foods are not actually healthy and are just an immense scam from food companies to take your money away from you? In the documentary, In Organic We Trust, the narrator Kip Pastor attempts to persuade the viewers that although the food system may be flawed, organic foods are actually better to consume. Pastor’s use of pathos and logos in this documentary are extremely credible and well structured, but the ethos Pastor provided in this documentary are not as well structured as the pathos and logos. Pastor doses an excellent job in structuring the film â€Å"In Organic We Trust†, in an attempt to send his message across to the viewers. In the documentary in order†¦show more content†¦Therefore, the pathos Pastor demonstrated throughout the entire film was extremely particular and well structured. Pastor’s pathos captured the viewer’s attention by using a hook and the n explaining in detail his motives. It was evident that Pastor was very passionate and determined to educate the viewers. Pastor travelled across the country in order to investigate and interview knowledgeable workers from the organic food industry. Lastly, the Logos Pastor used in this film were tremendously credible. Pastor gathered all the information he collected by interviewing actual workers form the food industry. Although, Pastor did use credible resources and state his ethos and displayed his pathos for the film, the information in this Film was a bit bias. Throughout the whole film Pastor only help the viewer’s better understand the benefits of organic foods. Pastor interviewed a variety of people that work in the food industry, but all of those people were also very passionate about organic foods. Pastor failed to interview individuals that were on the opposite side of the food industry. Also, Pastor only brought up all of the negative points normal industrialize d farming. Not once throughout the entire film did Pastor show the viewers that there are positives to normal industrialized farming. Thus, making the information provided to the viewer’s bias because bothShow MoreRelatedEssay on In Organic We Trust, a Documentary by Kip Pastor789 Words   |  4 Pageswondered if organic foods are actually better for you? What if organic foods are not actually healthy and are just an immense scam from food companies to take your money away from you? In the documentary, In Organic We Trust, the narrator Kip Pastor attempts to persuade the viewers that, although the food system may be flawed, organic foods are actually better to consume. Pastor’s use of pathos and logos in this documentary are extremely credible and well structured, but the ethos Pastor provided in

Qatar’s Economy Free Essays

Business in Qatar Should one do business in Qatar? Qatar is a small country in the Middle East. I’ve come to realize that Qatar, just like any other country has it’s poor and plentiful sides. Qatar is a small country with immense expectations for future business with other countries. We will write a custom essay sample on Qatar’s Economy or any similar topic only for you Order Now Let’s start by looking at Qatar’s political and economic standpoint. While Qatar is more of a conservative society than others, it has set out on a path towards economic modernization and political stability. Amir Hamad bin Khalifa Al Thani has been the chief of state since 1995 and has led Qatar to becoming more open to global markets. He is a strong advocate to having relations with the United States as well. In 2003 and 2004 the economy of Qatar was growing and expected to continue growing. According to Douglas Walter, author of Consider Qatar, stated that Qatar’s economy is driven by revenues from natural gas and oil resources. Qatar has one of the largest oil reserves in the world, with as much oil to last as long as 200 years, that was said in 2005. I can only imagine how much oil it has now. Qatar is striving to make itself more attractive for investments and trade with other countries. With the importance of foreign trade on the economy of Qatar, export taxation is a primary source of funding public spending and development in Qatar. In 1994, Qatar succumbed to the General Agreement on Tariffs and Trade, which is now known as the World Trade Organization. They have built its trade and investment state so that they are following their obligations to the World Trade Organization by reducing tariffs, removing unnecessary restrictions and barriers to trade, and providing foreign investor more opportunities. The United States is still trying to get Qatar to become part of the Free Trade Agreement. It seems like doing business in Qatar, is easier than some countries. Some companies that do business with Qatar have reported that going through customs is not a hassle. Qatari companies and customers seem eager to work with Americans and like buying U. S. Made products and services. Qatar has a stable currency, and the country inflicts no foreign exchange controls. Qatar permits up to 100% of foreign ownership in agriculture, manufacturing, health, education, tourism, power and projects involved in the development of natural resources, pending approval from the government. Qatar is also a member of various international financing bodies. It levies no taxes on the individuals’ income and no fees on exports, whereas he fees on imports are exceedingly low and are estimated at 4 percent. Qatar is also famous for its banking market. There are no restrictions on transferring capitals overseas, which make the whole of Qatar a free trade zone. The issuing of law No. (1) in the year 1980 regulating industry in Qatar provided for incentives for local investors in the industry field and in addition to the promotional incentives regulated by law No. (19) in the year 1995 which facilitates the process of obtaining industry licenses and unifies the executive bodies that grant promotional incentives. U. S. exports to Qatar in 2004 totaled $423 million. Within the span of five years, U. S. exports to Qatar have increased by over 200%. All indicators – the growing strength of the U. S. Qatar geopolitical relationship, growth in the world demand for natural gas, and Qatar’s successful economic reform and diversification strategy among others – strongly suggest significant growth in future U. S. exports to this market. Qatar has its own specific rules when it concerns other countries operating in this country. There are several services that are available for interested parties looking to do business within Qatar , such as legal, financial, tax matters, business counseling, company background checks, and feasibility studies. Now there is not any personal income tax within Qatar, but foreign-owned companies must pay tax on corporate income. One downfall to this is that U. S. Companies wanting to do business in Qatar will have double taxation. Now with labor in the country of Qatar, all non-Qataris must have a valid work permit issued by the Department of Labor to work in Qatar. Qatar has a new labor law which aims to balance the rights of employers and employees, also institutes hiring priority to Qatari nationals. It gives the employers obligations that the employment contract must be in writing, the recognition of the concept of end-of-service benefits, and limitations on how many hours can be worked per week. Now seeing a country prosper with it’s oil and natural gas revenues and to see how beautiful the country actually is, who wouldn’t want to do business in Qatar. I’ve been there and can see how a U. S. Company could become a success over there. I’ve been to several places in Doha and have seen familiar places, such as Apple-bees, Chili’s, and Fuddruckers. With Qatar’s great relationship with the United States, it couldn’t hurt for a company to open up over in Qatar and bring more to the country that is striving. Works Cited â€Å"Qatar Now. † N. p. ,n. d. Web 21 Nov. 2012 http://www. diwan. gov. qa/english/qatar/Qatar_now. htm â€Å"Rules of Business in Qatar-Export. gov† N. p. ,n. d. Web. 21 Nov 2012. http://www. export. gov/middleeast/country_information/qatar/considerqatarguide. pdf â€Å"Grasp, Rules of Business in Qatar† N. p. ,n. d Web. 21 Nov 2012. http://graspcorp. co. uk/en/about/about-qatar/ How to cite Qatar’s Economy, Essay examples

Civil Wrong and a Criminal Offence for Copyright Infringement

Question: Explain the difference between a civil wrong and a criminal offence? Provide one example. Answer: The issue in this question is to differentiate between civil wrongs and criminal wrongs. For this purpose, the basics of each one has to be discussed and try to clear the differences that exist between the two and an example of this difference also needs to be given. A civil wrong can be described as the wrongs that have taken place against a particular individual. In this regard, civil wrongs can be redressed. This means that damages may be claimed by the party that has suffered a civil wrong from the party that has caused such damages (Williams, 1982). In this regard, the civil wrongs can also be described as the wrongs that have not been recognized as criminal wrongs by the State. On the other hand, the criminal wrongs are considered as the wrongs against state and not only against an individual. Another difference between the two is that criminal wrongs are more serious as compared to the civil wrongs because they are considered as the wrongs against the whole society, even if only one person has suffered an injury (Dworkin, 2005). In this way the wrongs that are against the benefit of the general public and the State are considered as criminal wrongs. On the behind the civil wrongs adversely affect the interests of a particular person. The acts like murder, robbery or theft are considered as criminal wrongs. On the other hand, the less serious wrongs like trespass, copyright infringement, causing nuisance or pollution are treated by the law and civil wrongs. In case of criminal wrong, action is taken by the state against the offender. On the other hand, in case of a civil wrong, the injured party can sue the other party that has caused the injuries. An example can be used to explain the difference present between the two. For example, if a person has punched another person, but no physical injury was caused, it will be treated as a civil wrong. On the other end, if a person beats the other person and causes serious injuries, it will be termed as a criminal wrong. References Dworkin, R. (2005). Taking Rights Seriously, Harvard University Press Williams, G.L., (1982). "Learning the Law", 11th Ed., London: Stevens

The Scarlet Letter Essay Summary Example For Students

The Scarlet Letter Essay Summary The Scarlet Letter, a story of the diffficulties faced by Hester Prynne in committing adultery, is pertinent to today’s teenage mothers in particular. The Scarlet Letter teaches one to face the responsibilities and consequences of his or her decisions. It shows the perspective of the commonly misunderstood people. The novel shows that the hardships and capability of teenage mothers. The Scarlet Letter is an inspiring novel which teaches to make the best of any situation and be strong. Hester Prynne commits adultery with Dimmesdale while her husband is in another country. Dimmesdale is a minister and fears slaughtering his reputation by making it known that he is the father of their child, Pearl. If Hester reveals the father, she may take the scarlet letter off, otherwise she must wear it for life. Honorably, Hester will not reveal his identity. As a result, she becomes the symbol of sin. â€Å"When strangers looked curiously at the scarlet letter-and none ever failed to do so-they branded it afresh into Hester’s soul; so that, oftentimes, she could scarecly refrain, yet always did refrain, from covering the symbol with her hand. We will write a custom essay on The Scarlet Letter Summary specifically for you for only $16.38 $13.9/page Order now Teenage mothers receive many stares. It’s difficult to help from staring at a teenager mother with her baby. Some teenage mothers might feel embarassed at this, as Hester does. People can be very judgemental. The Scarlet Letter reveals how people may judge a teenage mother in a wrong way. â€Å"Lonely was Hester’s situation, and without a friend on earth who dared to show himself†¦Ã¢â‚¬  As a consequence for her sin, Hester becomes an outcast from society. Her reputation diminishes and she no longer has a social life. Many teenage mothers are forced to give up their childhood and don’t have much time for a social life. They have to care for someone else now. Most mothers sacrifice sports and time for homework in order to care for their child. Today’s society might say all people are equal and no one is an outcast. Unfortunately, many people are misjudged and not given a chance; like Hester, whom no one would be associated with. Even while applying for jobs or to colleges, teenage mothers are treated differently. ecause they have a child, people believe they can’t take on serious responsibilities. Hester feels as if her sin will affect the way Pearl is raised, â€Å"Day after day, she looked fearfully into the child’s expanding nature; ever dreaming to detect some dark and wild peculiarity, that should correspond with the guiltiness to which she owed her being. †Ã‚   This shows Hester’s fear of being incapable to raise a child after committing a sin. Many teenagers might feel insecure as mothers. They are learning that their actions will affect their child’s. Teenage mothers might feel as if they are depriving their kids, since they are young and inexperienced. † ‘Woman, it is thy badge of shame! ’ replied the stern magistrate. ‘ It is because of the stain which that letter indicates, that we would transfer thy child to other hands. † This shows the responsibity and good which can come from being a teenage mother. They can show their children the consequences of having a child at a young age. They can tell their children, firsthand, the problems which are faced. â€Å"Do you see that woman with the embroidered badge? It is our Hester-the town’s own Hester-who is kind to the poor, so helpful to the sick, so comforting to the afflicted! †Ã‚   This qoute shows that no matter what, there can always be a brighter future. Teenage mothers may have to work harder to attain a good reputation and be successful; bu it is very possible. It shows that good things can come out of any situation. The Scarlet Letter shows the obstacles and consequences which teenagers must face. Hester’s situatuion is applicable to teenage mothers. Many teenagers feel the isolation from society and the false judgments made by people. .ueb0bd216803da010edfe1899b657e6ac , .ueb0bd216803da010edfe1899b657e6ac .postImageUrl , .ueb0bd216803da010edfe1899b657e6ac .centered-text-area { min-height: 80px; position: relative; } .ueb0bd216803da010edfe1899b657e6ac , .ueb0bd216803da010edfe1899b657e6ac:hover , .ueb0bd216803da010edfe1899b657e6ac:visited , .ueb0bd216803da010edfe1899b657e6ac:active { border:0!important; } .ueb0bd216803da010edfe1899b657e6ac .clearfix:after { content: ""; display: table; clear: both; } .ueb0bd216803da010edfe1899b657e6ac { 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; } .ueb0bd216803da010edfe1899b657e6ac:active , .ueb0bd216803da010edfe1899b657e6ac:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .ueb0bd216803da010edfe1899b657e6ac .centered-text-area { width: 100%; position: relative ; } .ueb0bd216803da010edfe1899b657e6ac .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .ueb0bd216803da010edfe1899b657e6ac .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .ueb0bd216803da010edfe1899b657e6ac .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; } .ueb0bd216803da010edfe1899b657e6ac:hover .ctaButton { background-color: #34495E!important; } .ueb0bd216803da010edfe1899b657e6ac .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .ueb0bd216803da010edfe1899b657e6ac .ueb0bd216803da010edfe1899b657e6ac-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .ueb0bd216803da010edfe1899b657e6ac:after { content: ""; display: block; clear: both; } READ: Meet Carl Robinson, he is a 13-year-old student at St. Mark's School in North London EssayThese teenagers might be inspired by Hester’s story. â€Å"until, on the threshhold of the prison door, she rfepelled him, by an action marked with natural dignity and force of character, and stepped into the open air, as if by her own free will. † Hester’s acceptance of her punishment and her pride teaches teenage mothers a valuable lesson they might commonly forget. Whatever the consequences may be, they should face them boldly and independently. Also, no matter how society treats them, they should be brave and have pride in themselves.

J.B.S. Haldane An Evolution Biography

J.B.S. Haldane An Evolution Biography J.B.S. Haldane was an evolutionary biologist who made many contributions to the field of evolution. Dates: Born November 5, 1892 - Died December 1, 1964 Early Life and Education John Burdon Sanderson Haldane (Jack, for short) was born on November 5, 1892, in Oxford, England to Louisa Kathleen Trotter and John Scott Haldane. The Haldane family was well off and valued education beginning at an early age. Jacks father was a well-known psychologist in Oxford and as an eight-year-old child, Jack started studying the discipline with his father and assisted him in his work. He also learned genetics by breeding guinea pigs as a child. Jacks formal schooling was done at Eton College and New College at Oxford. He obtained his M.A. in 1914. Soon after, Haldane enlisted in the British Army and served during World War I. Personal Life After returning from the war, Haldane began teaching at the University of Cambridge in 1922. In 1924 he met Charlotte Franken Burghes. She was a reporter for a local publication and was married at the time that they met. She ended up divorcing her husband so she could marry Jack, almost costing him his teaching position at Cambridge for the controversy. The couple married in 1925 after her divorce was final. Haldane took a teaching position at the University of California, Berkeley in 1932, but returned to London in 1934 to spend the majority of the rest of his teaching career at the University of London. In 1946, Jack and Charlotte separated in 1942 and finally divorced in 1945 so he could marry Dr. Helen Spurway. In 1956, the Haldanes moved to India to teach and study there. Jack was openly atheist as he said that was how he conducted his experiments. He felt it wasnt fair to assume no God would interfere with the experiments he conducted, so he could not reconcile having a personal belief in any god. He often used himself as a test subject. Jack allegedly would perform dangerous experiments, such as drinking hydrochloric acid to test the effects on muscle control. Career and Accomplishments Jack Haldane excelled in the field of mathematics. He spent most of his teaching and research career interested in the mathematical side of genetics and particularly how enzymes worked. In 1925, Jack published his work with G.E. Briggs about enzymes that included the Briggs-Haldane equation. This equation took a previously published equation by Victor Henri and helped reinterpret how enzyme kinetics worked. Haldane also published many works on population genetics, again utilizing mathematics to support his ideas. He used his mathematical equations to support Charles Darwins idea of Natural Selection. This led to Jack helping to contribute to the Modern Synthesis of the Theory of Evolution. He was able to link Natural Selection to Gregor Mendels genetics using mathematics. This proved to be an invaluable addition to the many pieces of evidence that helped support the Theory of Evolution. Darwin himself did not have the privilege of knowing about genetics, so a quantitative way to measure how a population evolved was a major breakthrough at the time. Haldanes work brought a new understanding and renewed support of the Theory of Evolution by quantifying the theory. By using quantifiable data, he made the observations by Darwin and others verifiable. This allowed other scientists across the world to use their own data in support of the new Modern Synthesis of the Theory of Evolution linking genetics and evolution. Jack Haldane died December 1, 1964, after a bout with cancer.

Hominid evolution Essay Example | Topics and Well Written Essays - 750 words

Hominid evolution - Essay Example This is not the earliest of human life, though. Fossils prove that human-like creatures have lived on the planet for millions of years. Thus the species that modern humans belong to has, in one form or another, been on earth for a very long time. One of the most important questions to be answered, then, is why it is only modern humans that have managed to survive on earth. Why did other examples die out, and why did only humans such as those living today thrive and dominate all the species on earth? In the case of the Neanderthals, particularly, it is not simple to explain why they became extinct. For 200 000 years they dominated among species on the European continent. Only 28 000 years ago the last populations of the Neanderthals died out in Gibraltar, the last settlement science has evidence of (Wong 2009: 134). Only modern-form humans then continued to exist on earth. Theories to explain this change in the population of earth range from climate change as the cause for this dying out, to theories of conquest of the Neanderthals by the moderns. Climate change may certainly have caused the Neanderthals to have to adapt continually to changing weather patterns and ecologies. This adaptation would have had to affect their hunting methods, their sources of shelter, and their sources of food. Wong (2009: 135) proposes that the climate change experienced in Europe during the time of the Neanderthals was not gradual over a long period of time. From about 65 000 years ago to about 25 000 years ago, the climate changed completely in continental Europe. The period began with mild and temperate conditions across the continent, and ended with Europe experiencing extreme cold, snow and ice year-round. Evidence shows that this did not happen gradually: it did not just get progressively colder over 40 000 years. Instead, the weather patterns and thus the environment would change completely in relatively short periods of time in one place. Plant and animal life could be comp letely replaced by new ecology within one Neanderthal’s lifetime, in one area. Therefore the Neanderthals would have to change their lifestyles completely in order to survive: hunting methods; where they lived; the kind of shelter they needed and their food sources. Everything may very well have changed completely without warning. Hence the populations of Neanderthals would reduce, and not have time to recover before the next major climate change. Eventually over generations this may have led to populations too small to sustain themselves in particular areas (Finlayson in Wong 2009: 135). It may additionally be that the migration of modern hominids into Europe and the near-East placed more pressure on available food resources. The Neanderthals, struggling to adapt to rapidly changing ecologies around them would have had further to compete for their traditional food sources with the newcomers. The movement of homo sapiens out of its African origin and gradually across the plan et would certainly have had, then, some effect on the extinction of the Neanderthals. Living in Africa, modern hominids were taller and lighter than the Neanderthals. They needed less food to survive and function than the Neanderthals; they were hence adaptable; they used more sophisticated tools and hunting weaponry (Gugliotta 2008: 139). What explains their

The Role of New Media Technologies in the Promotion Research Proposal

The Role of New Media Technologies in the Promotion - Research Proposal Example It is the evolutionary break between the world before the internet and the world that has emerged since its proliferation. The way in which humans now communicate has had an elementary shift. Communication is accomplished through writing, verbalizing or through interpretation of imagery. Communication is codified with signals that indicate the context for the content. The impersonal nature of internet communication has been compensated for by the development of social languages that are in many ways kinder and friendlier than in previous forms of more formal communication. Therefore, the nature of how emotion is indicated in written language has become symbolized through pictorials, shortened references such as lol, meaning laugh out loud, and the use of capital letters or small letters. Furthermore, because of the heavy use of advertising, the way in which movement of digital imagery and impact of color usage has been defined has changed elements of the way in which humans respond t o what they see (Lievrouw and Livingstone 2006, p. 37).  It is the evolutionary break between the world before the internet and the world that has emerged since its proliferation. The way in which humans now communicate has had an elementary shift. Communication is accomplished through writing, verbalizing or through interpretation of imagery. Communication is codified with signals that indicate the context for the content. The impersonal nature of internet communication has been compensated for by the development of social languages that are in many ways kinder and friendlier than in previous forms of more formal communication. Therefore, the nature of how emotion is indicated in written language has become symbolized through pictorials, shortened references such as lol, meaning laugh out loud, and the use of capital letters or small letters. Furthermore, because of the heavy use of advertising, the way in which movement of digital imagery and impact of color usage has been defin ed has changed elements of the way in which humans respond to what they see (Lievrouw and Livingstone 2006, p. 37).   The use of a window display is the first step of VM (visual marketing). In creating a window that has an allure to the shopper, the shop is creating a marketing dialogue with the potential buyer. The window, through the use of the media of interior design, art, and visual communication, sustains a communication with the consumer in providing information about seasonal changes and the point of view of the collection within the store. The use of strategic communication addresses the brand of the store while the tactical communication is defined by the changes of seasons as interpreted by the collection and the promotions that are time specific (Bhalla, Swati, and Anuraag 2010, p. 145). Through the use of a well-designed window, a shop can help a shopper understand what to expect once inside the door as well as attract them into the outlet.  

Public Relations Of The Oberoi Hotel Mumbai Tourism Essay

Public Relations Of The Oberoi Hotel Mumbai Tourism Essay The marketing focus on the most fundamental requirment of companies to identify customer,research their need and prefrences. According to an American educator and writer Peter F. Drucker The aim of marketing is to know and understand the customer so well the product or service fits him and sells itself. According to Al Ries Strategy and timing are Himalayas of marketing. Everything else is Catskills Marketing strategy is a process that can allow an organization to concentrate its limited resources on the greatest opportunities to increase sales and achieve a sustainable competitive advantage. A marketing strategy should be centered on the key concept that customer satisfaction is the main goal The tourism consumer is the critical judge of successful marketing and public relations activities. In todays increasingly competitive marketing environment there has been a shift from traditional marketing techniques towards more aggressive and varied approaches to marketing and communication. The change from transactional to relationship management in marketing over the past fifty years has been marked by improvements in consumer satisfaction and client recommendation of repeat purchase of products and services. Brands today are often built with effective PR campaigns and then maintained through a blend of marketing and PR tactics. The impact of the Internet is having profound impact upon PR and Marketing practices enabling PR practitioners to conduct two way communications in order to maintain and enhance customer relationships MARKETING Marketing- according to CIM, marketing the management of process responsible for identifying anticipating and satisfying customer requirement profitably accord to hand out marketing is a way of thinking ,a philoslphy . the amrican marketing association define markettin as : The process of planing and executing the conception .pricing, promotion and distribution of ideas, good and service to create exchange that satisfy individual and oregnisational goal(bennett1995) the marketing function is the study of market forces and factors and the development of the companys position to optimise its benefit from them . acoord to Richard hall- The first golden rule of marketing is that nothing is imposible PUBLIC REALATION Public relations concern any organisation, commercial or non commercials .it exists whether we like it or not, you cannot decide to have or not have  public relations public relation consists of all .communications with all the people with whom an organisation has contact .an individual also experience public relation, unless he or she is utterly isolated and beyond human contact. So misunderstand is public relation that the last place to look for a satisfactory definition is in dictionary .let us examine there internationally respected definition which I are familiar to PR professionals.   According to- IPR (institute of public relations)   Ã‚  Ã‚   public relation practice is the planned and sustained effort to establish and maintain goodwill and mutual understanding between an organisation and its public . (As revised November 1987) According to  Frank Jeflcins  Definition Public relation consists of all forms of planned communication outwards and inwards between an anisation and its public for the purpose of achieving specific objectives concerning mutual understanding. The Mexican Statement following the world assembly of public relation associations in Mexico City in August 1978, this  statement was agreed. Public relations practices is the  art and social science of analyzing trends, predicting their consequences, counselling organisation readers, and implementing planed programmer of action which will serve both the organisations and the public interest. (public realation by franks jefkins ,page nom 7,8) ISBN 0712117O91. OBEROI HOTEL Location of the Oberoi Hotels: In India, these hotels include The Oberoi Rajvilas, Jaipur; The Oberoi Amarvilas, Agra; Wildflower Hall, Shimla in the Himalayas; The Oberoi Vanyavilas, Ranthambhore; The Oberoi Cecil, Shimla and The Oberoi Udaivilas, Udaipur. Overseas, the new hotels include The Oberoi, Lombok in Indonesia, The Oberoi, Mauritius and The Oberoi, Sahl Hasheesh in Egypt. The Oberoi Zahra, Luxury Nile Cruiser, Egypt was launched in 2007. The Groups commitment to excellence, attention to detail and personalised service has ensured a loyal list of guests and accolades in the worldwide hospitality industry.The hotel has hosted a long list of notable guests including The Beatles, Jacqueline Kennedy Onassis, Bill Clinton, Jacques Chirac, The King Queen of Norway, The Duke Duchess of Kent, The Duke of Edinburgh, The Prince of the wale , Roger Moore, Joan Collins, Mick Jagger, Deep Purple, Michael Palin, Hillary Clinton, Michelle Barack Obama as well as professional cricket teams on tour. History of The Oberoi Hotel : The Oberoi Group, founded in 1934, operates 28 hotels and three cruisers in five countries under the luxury Oberoi and five-star Trident brands. The Group is also engaged in flight catering, airport restaurants, travel and tour services, car rentals, project management and corporate air charters. The Oberoi Group Hotels was founded by Mr.Rai Bahadur M.S.Oberoi in 1934. They have two principal brands THE DELUXE OBEROI BRAND and THE FIRST CLASS INTERNATIONAL TRIDENT BRAND. It owns and runs thirty five luxury and first class hotels in seven countries. Five Oberoi Group Hotels are members of The Leading Hotels Of The World and eight are members of The Leading Small hotels Of The World. It employs about 12,000 people worldwide and they are the trend setter as they were first to introduce in-house laundry and to employ women in their hotel. Marketing Strategy of the Oberoi Hotels (Oberoi Group): The Oberoi Group, founded in 1934, operates 28 hotels and three cruisers in five countries under the luxury Oberoi and five-star Trident brands. The Group is also engaged in flight catering, airport restaurants, travel and tour services, car rentals, project management and corporate air charters. A distinctive feature of The Groups hotels is their highly motivated and well trained staff who provide exceptionally attentive, personalised and warm service. The Groups new luxury hotels have established a reputation for redefining the paradigm of luxury and excellence in service amongst leisure hotels around the world. Today, Mr.P.R.S.Oberoi is the Chairman of The Oberoi Group and his son; Mr.Vikram Oberoi and his nephew, Mr.Arjun Oberoi serve in the capacities of Joint Managing Directors at EIH Ltd and EIH Associated Hotels, the two major holding companies of The Oberoi Group. The Oberoi Group is committed to employing the best environmental and ecological practices in technology, equipment and operational processes. The Group also supports philanthropic activities that range from education to assistance for the mentally and physically challenged. The Group is also a keen contributor to the conservation of nature and of cultural heritage. STRATERGY ANALYSIS of The Oberoi Hotel Palace Hotel: SWOT ANALYSIS : Swot analysis is a strategy planning model which is stands for Strength, Weakness, Opportunities and threats involves in a business venture it involves specifying the venture of business and swot analysis is also identifying the internal and external factors which are suitable and unsuitable for achieve that objective. Strength : Characteristics of the business or team which are giving advantage over other in the hotel industry. Weakness : Weaknesses are external factor of the organization and disadvantage relative to others.The cost of land in India is high at 50% of total project cost as against 15% abroad. This acts as a major deterrent to the Indian hotel industry. The hotel industry in India is heavily staffed. This can be gauged from the facts that while Indian hotel companies have a staff to room ratio of 3:1, this ratio is 1:1 for international hotel companies. Opportunities: External chances of the industry to make greater sail and profit in the environment. Threats: External elements which can create a trouble for the business of hotel industry. Competitors: There are so many competitors around the business of Oberoi Group Hotel they have price war with each other they are providing same facilities like as Oberoi Hotel thus it has direct competition with following brands who are looking forwards to join the race such as: The Taj Mahal Hotel Marine plaza The orchid Le meridian. Acquisition Hotel Blue Diamond Pune Leela. Strategy Planning Model Strategy planning can be very benefit to the success of any hotel. However there is not only one strategy model for every business while choosing strategy planning model hotel industry need to take into account that which model is best for their business with what they are trying to accomplish. Various hotel business analysis techniques are using strategy planning including Swot analysis, pest analysis. Strategy planning is dealing with three question key: What business we are doing in? For whom we are doing it? How we can do it? Planning: Planning is a specification of goals the housekeepers and the means to accomplish by the managing department. Setting objectives: Determining desired results. Developing strategies: Deciding how and when to achieve goals. Programming: Establishing priorities, sequence, and timing of step to be taken. Budgeting: Allocating resources. Developing policies: Making standing decisions on important Vision: Oberoi Hotel wants to see the organization whichs dreams leadership in hospitality industry by understanding their guest, delivering products and services according to their expectations. They are also want to see their hotel as a responsive organization where decision making is encourage at all level of organization which accept change according to time. It will be responsible towards their guest and stakeholders. Their main vision about their business that Oberoi Hotel industry want to see multi skilled workforce, which consist team player who have pride of ownership, translating organizational Vision into reality. The Oberoi Hotel groups of hotels trying itself to the overall improvement of the ecological environment. Oberoi Hotel industry always recognizes that they are not owner but they are caretakers of the planet and they will stable it to their children and future generation of humankind. Their commitment encompasses all action related to their product, services, associate, vendors and community. Mission: The main mission of the Oberoi Hotel that they are committed to meeting and exceeding the expectation of their guest through their dedication to every aspect of services. They want growth, development and welfare of their society and they want to make it really. In their business they will create extra ordinary values for their shareholders. Values: Oberoi Hotel believe in the cultural diversity respect of the people, passion for excellence, sense of urgency in work accountability, social responsibility joy at work. Oberoi Hotel industry feels that their people and guests are a latest key of their success. They respect the diversity of people, their idea and honour the value individual in a team. They want to get perfection of their achieving and continuously try to improve the process of global bench market. They got success by exceeding the all expectation of their stakeholders and by protecting the interest of shareholders. They are encouraged innovation and supporting the growth through knowledge. Learning and by put the knowledge into the practice. Oberoi Hotel industry believes in fair environment because that provides equal opportunity, brotherhood, to attract develops and retains the best talent from others. Goals of The Oberoi Hotel: Oberoi Hotel has many goals such as promoting any big event happening in the country and they have Formula 1 special offer for their guest. Creating bonds and good relation with their training centre to develop their staff and business. They are providing car and buses facility to transfer their customer where they have parked. The goals of the Oberoi Hotel is to replace the system in which communicate department have work with the bolster security after 2008 at the Oberoi Hotel and tower. MARKETING MIX The marketing mix is the tactical toolkit of product, place, price and promotion that marketes manipulat in order to satisfy their customers and implement their target market stratergies.(marketing briefe by Dibbs simikin 2001 ,page num 165 ) Conclusion: In the overall observation I have found that the main purpose of the hospitality and tourism industry is entertainment and satisfaction of the customer. Oberoi Hotel is using swot analysis to run have defining the strength, weakness, opportunities which identifying the internal and external threats and professional housekeeper, teamwork and leadership are the strength point of Oberoi Hotel. Oberoi Hotel always offering a range of facilities and business services like as internet, fax machine. I have found that the managing risk of the Oberoi Hotel refers both internal and external risk including Training, Evaluating, delegating etc. In the end of all we can say that Oberoi Hotel is one of the best hotel in the world due to their Location, Facilities and Business services. Recommendation: The data which is discribe in this assigenment that all is very usefull to starting and runging in the new bussiness. . Before starting any business we have need to make strategy planning. Strategy mean planning like how we can manage our business and how we can fulfill the needs of customers and how we can run our business with very good planning. Every businessman should give focus on the customers need because this is first and very important thing in business. Before open any hotel we should know that which place is right for situated the hotel we can say that is good accommodation of the hotel. For example: Oberoi Hotel is situated on the very good place its on the gateway of India and near the many Airports of Mumbai and it helps the travelers from incoming flights to find the hotel immediately. Before starting any business we make any strategy then we can face less problems otherwise we have to face lots of problems like as: Terrorism, New government rules and regulation, Comp etitors etc. We should try to improve the weakness of our business and alert about the threats of our business. Terrorism is always very big problem for the OBEROI HOTEL because of its popularity that is always in the eyes of terrorist. Oberoi Hotel has always needed to be aware from the terrorist activities. Some time hotel industry have to face problem in the Swot Analysis its mean Strength, Weakness, Opportunities, Threats and in Pest analysis is stands on Political, Economical, Social and Technical factors. Hotel should have to select good staff for in managing and in housekeeping department and staff should be expert that how they can impress the customer and fulfill their need and satisfaction. Business man should run the Monitoring system with this they can check that how their employees are doing work and they can find the weakness of their business. Business men have need to providing good salary and facilities like as: Bonus to their workers. Managing risk is most important thing for the hotel industry it includes both internal and external risk such as coordinating, Selecting Employee, Training, Directing. Organization should arrange and delegating work for accomplishment of the objects coordination in in volves activities design to create a relationship among all organization efforts to accomplish their goals.

Stereotypes and Stereotyping - Stereotypical Female in Im Your Horse i

A Stereotypical Female in I'm Your Horse in the Night  Ã‚  Ã‚  Ã‚   Luisa Valenzuela's short story titled "I'm Your Horse in the Night" is a thought provoking piece of literature. The story is written in such a way that the reader must interpret what is meant by what is being said. Although it is easy to go into depth when describing the elements of this piece, the storyline is rather simple. The story contains an assortment of characters; with those characters being Chiquita, Beto, Andres, and several policemen. The time and location are unknown. The telephone tells us that the time period is of somewhat modern times, and the Spanish ethnicity would most likely relate to the setting being that of a Spanish colonization. The narration of the story is first person persona told by Chiquita throughout. Aside from the geographic location of the setting, it is the home of a woman who lives on her own. She is in love with a man who she calls Beto. The woman hasn't heard from Beto in months, but she practically fantasizes about him every night. One morning she is awaken by   a mysterious phone call. She thought it was a man she calls Andres, but then the man hangs up and she is left hearing that Beto is dead. Chiquita called the police. They showed up only to harass her and tear apart her house, asking questions about Beto, which Chiquita was unable to answer. The police conclude their search by taking Chiquita to jail. She is left to ponder what is going on with Beto, the man she loved. The short story summarized above illustrates the common stereotypical theme of a female wanting to be loved by a man who in turn only wants the woman for her sex. The characters in this short story would have to be... ...ng and complexities, making it into a complete literary piece. Certain areas of the story were open for interpretation, giving the story line more than one path to go by, making it an ambiguity within itself. Every sentence adds to what the reader is able to see and comprehend as far as this particular story goes. Overall the theme is clearly that of a female simply wanting to be loved, and a male wanting sexual pleasure. This piece just glorifies the common occurrence with the verisimilitude of the main characters making the story come to life for the reader. The main characters within the story are a good example of reality when it comes to seeing the differences between males and females during an event such as this. Valenzuela's story does a good job of taking a common theme, and turning it into an exciting, thought provoking piece to read. Stereotypes and Stereotyping - Stereotypical Female in I'm Your Horse i A Stereotypical Female in I'm Your Horse in the Night  Ã‚  Ã‚  Ã‚   Luisa Valenzuela's short story titled "I'm Your Horse in the Night" is a thought provoking piece of literature. The story is written in such a way that the reader must interpret what is meant by what is being said. Although it is easy to go into depth when describing the elements of this piece, the storyline is rather simple. The story contains an assortment of characters; with those characters being Chiquita, Beto, Andres, and several policemen. The time and location are unknown. The telephone tells us that the time period is of somewhat modern times, and the Spanish ethnicity would most likely relate to the setting being that of a Spanish colonization. The narration of the story is first person persona told by Chiquita throughout. Aside from the geographic location of the setting, it is the home of a woman who lives on her own. She is in love with a man who she calls Beto. The woman hasn't heard from Beto in months, but she practically fantasizes about him every night. One morning she is awaken by   a mysterious phone call. She thought it was a man she calls Andres, but then the man hangs up and she is left hearing that Beto is dead. Chiquita called the police. They showed up only to harass her and tear apart her house, asking questions about Beto, which Chiquita was unable to answer. The police conclude their search by taking Chiquita to jail. She is left to ponder what is going on with Beto, the man she loved. The short story summarized above illustrates the common stereotypical theme of a female wanting to be loved by a man who in turn only wants the woman for her sex. The characters in this short story would have to be... ...ng and complexities, making it into a complete literary piece. Certain areas of the story were open for interpretation, giving the story line more than one path to go by, making it an ambiguity within itself. Every sentence adds to what the reader is able to see and comprehend as far as this particular story goes. Overall the theme is clearly that of a female simply wanting to be loved, and a male wanting sexual pleasure. This piece just glorifies the common occurrence with the verisimilitude of the main characters making the story come to life for the reader. The main characters within the story are a good example of reality when it comes to seeing the differences between males and females during an event such as this. Valenzuela's story does a good job of taking a common theme, and turning it into an exciting, thought provoking piece to read.

Financial Derivative Case Studies Essay

INTRODUCTION Financial derivatives have crept into the nation’s popular economic vocabulary on a wave of recent publicity about serious financial losses suffered by municipal governments, well-known corporations, banks and mutual funds that had invested in these products. Congress has held hearings on derivatives and financial commentators have spoken at length on the topic. Derivatives, however remain a type of financial instrument that few of us understand and fewer still fully appreciate, although many of us have invested indirectly in derivatives by purchasing mutual funds or participating in a pension plan whose underlying assets include derivative products. In a way, derivatives are like electricity. Properly used, they can provide great benefit. If they are mishandled or misunderstood, the results can be catastrophic. Derivatives are not inherently â€Å"bad.† When there is full understanding of these instruments and responsible management of the risks, financial derivatives can be useful tools in pursuing an investment strategy. DERIVATIVES: A derivative is a contractual relationship established by two (or more) parties where payment is based on (or â€Å"derived† from) some agreed-upon benchmark. Since individuals can â€Å"create† a derivative product by means of an agreement, the types of derivative products that can be developed are limited only by the human imagination. Therefore, there is no definitive list of derivative products. Why Have Derivatives? Derivatives are risk-shifting devices. Initially, they were used to reduce exposure to changes in foreign exchange rates, interest rates, or stock indexes. For example, if an American company expects payment for a shipment of goods in British Pound Sterling, it may enter into a derivative contract with another party to reduce the risk that the exchange rate with the U.S. Dollar will be more unfavorable at the time the bill is due and paid. Under the derivative instrument, the other party is obligated to pay the company the amount due at the exchange rate in effect when the derivative contract was executed. By using a derivative product, the company has shifted the risk of exchange rate movement to another party. More recently, derivatives have been used to segregate categories of investment risk that may appeal to different investment strategies used by mutual fund managers, corporate treasurers or pension fund administrators. These investment managers may decide that it is more beneficial to assume a specific â€Å"risk† characteristic of a security. For instance, several derivative products may be created based on debt securities that represent an interest in a pool of residential home mortgages. One derivative product may provide that the purchaser receives only the interest payments made on the mortgages while another product may specify that the purchaser receives only the principal payments. These derivative products, which react differently to movements in interest rates, may have specific appeal to different investment strategies employed by investment managers. The financial markets increasingly have become subject to greater â€Å"swings† in interest rate movements than in past decades. As a result, financial derivatives have appealed to corporate treasurers who wish to take advantage of favorable interest rates in the management of corporate debt without the expense of issuing new debt securities. For example, if a corporation has issued long term debt with an interest rate of 7 percent and current interest rates are 5 percent, the corporate treasurer may choose to exchange (i.e., Swap), interest rate payments on the long term debt for a floating interest rate, without disturbing the underlying principal amount of the debt itself. RISK INVOLE IN DERIVATIVES: There are four risk associated with derivatives. * Market risk * Operational risk * Counter party credit risk * Legal risk Market risk: The risk to earnings from adverse movements in market prices. Operational risk: The risk of losses occurring as a result of inadequate systems and control, human error, or management failure. Counter party credit risk: The risk that a party to a derivative contract will fail to perform on its obligation. Exposure to counterparty credit risk is determined by the cost of replacing a contract if a counterparty (as a party to a derivatives contract is known) were to default. Legal risk: The risk of loss because a contract is found not to be legally enforceable. Derivatives are legal contracts. Like any other contract, they require a legal infrastructure to provide for the resolution of conflicts and the enforcement of contract provisions. CORPORATION: BARING: Barings PLC was the oldest merchant bank in Great Britain. Founded in 1762. With total shareholder equity of  £440 million, it was far from the largest or most important banking organization in Great Britain. Barings had long enjoyed a reputation as a conservatively run institution. But that reputation was shattered on February 24, 1995, when Peter Baring, the bank’s chairman, contacted the Bank of England to explain that a trader in the firm’s Singapore futures subsidiary had lost huge sums of money speculating on Nikkei-225 stock index futures and options. In the days that followed, investigators found that the bank’s total losses exceeded US$1 billion, a sum large enough to bankrupt the institution. STRATEGIES AND TRANSACTION: CONTEXT: In 1992, Barings sent Nicholas Leeson, a clerk from its London office, to manage the back-office accounting and settlement operations at its Singapore futures subsidiary. Baring Futures (Singapore), hereafter BFS, was established to enable Barings to execute trades on the Singapore International Monetary Exchange (SIMEX). The subsidiary’s profits were expected to come primarily from brokerage commissions for trades executed on behalf of customers and other Barings subsidiaries. Most of BFS’s business was concentrated in executing trades for a limited number of financial futures and options contracts. These were the Nikkei-225 contract, the 10 year Japanese Government Bond (JGB) contract, the three-month Euroyen contract, and options on those contracts (known as futures options). The Nikkei-225 contract is a futures contract whose value is based on the Nikkei-225 stock index, an index of the aggregate value of the stocks of 225 of the largest corporations in Japan. The JGB contract is for the future delivery of ten-year Japanese government bonds. The Euroyen contract is a futures contract whose value is determined by changes in the three-month Euroyen deposit rate. A futures option is a contract that gives the buyer the right, but not the obligation, to buy or sell a futures contract at a stipulated price on or before some specified expiration date. STRATEGIES: During late 1992 or early 1993, Leeson was named general manager and head trader of BFS. Leeson never relieved his authority over the subsidiary’s back-office operations when his responsibilities expanded including trading. Barings’s management understood that such trading involved arbitrage in Nikkei-225 stock index futures and 10-year Japanese Government Bond (JGB) futures. Both contracts trade on SIMEX and the Osaka Securities Exchange (OSE). Leeson soon embarked upon a much riskier trading strategy. Rather than engaging in arbitrage, as Barings management believed, he began placing bets on the direction of price movements on the Tokyo stock exchange. Leeson’s reported trading profits were spectacular. His earnings soon came to account for a significant share of Barings total profits; the bank’s senior management regarded him as a star performer. After Barings failed, however, investigators found that Leeson’s reported profits had been fictitious from the start. By manipulating information on his trading activity, Leeson was able to conceal his trading losses and report large profits instead. A major part of Leeson’s trading strategy involved the sale of options on Nikkei-225 futures contracts. The seller of an option earns a premium in return for accepting the obligation to buy or sell the underlying item at a stipulated strike price. If the option expires â€Å"out-of-the money,† the option premium becomes the seller’s profit. If prices turn out to be more volatile than expected, however, an option seller’s potential losses are virtually unlimited. Sometime in 1994, Leeson began selling large numbers of option straddles, a strategy that involved the simultaneous sale of both calls and puts on Nikkei-225 futures. TRANSACTION: Leeson’s trading losses from 1992 through the end of February 1995. By the end of 1992—just a few months after he had begun trading—Leeson had accumulated a hidden loss of  £2 million. until October 1993, when his losses began to rise sharply. He lost another  £21 million in 1993 and  £185 million in 1994. Total cumulative losses at the end of 1994 stood at  £208 million. That amount was slightly larger than the  £205 million profit reported by the Barings Group as a whole, before accounting for taxes and for  £102 million in scheduled bonuses. By January 1, 1995, Leeson was short 37,925 Nikkei calls and 32,967 Nikkei puts. He also held a long position of just over 1,000 contracts in Nikkei stock index futures, which would gain in value if the stock market were to rise. WHAT WENT WRONG? HOW WAS THE LOSS ACCUMULATED? Disaster struck on January 17 when news of a violent earthquake in Kobe, Japan, sent the Japanese stock market into a tailspin. Over the next five days, the Nikkei index fell over 1,500 points Leeson’s options positions sustained a loss of  £68 million. As stock prices fell, he began buying massive amounts of Nikkei stock index futures. By February 6, the Japanese stock market had recovered by over 1,000 points, making it possible for Leeson to recoup most of the losses resulting from the market’s reaction to the earthquake. cumulative losses on that date totaled  £253 million, about 20 percent higher than they had been at the start of the year but within some days market began to fall again making losses to multiply. Barings faced massive margin calls as Leeson’s losses mounted. While these margin calls raised eyebrows at the bank’s London and Tokyo offices, they did not prompt an immediate inquiry into Leeson’s activities. It was not until Feb ruary 6 that Barings’s group treasurer, Tony Hawes, flew to Singapore to investigate irregularities with the accounts at BFS. Barings had committed a total of  £742 million to finance margin calls for BFS. WHO WAS RESPONSIBLE FOR THE LOSS? Some observers blame this lack of communication on the rivalry between the two exchanges. Communication between SIMEX and the OSE was minimal, however this lack of communication not only helped make it possible for Leeson to accumulate large losses but also hampered efforts to contain the damage once Barings collapsed. The exchange’s attitude toward Barings was influenced in part by the bank’s strong international reputation, but its willingness to relax normal risk management guidelines also may have been attributable to its desire to attract business. Events surrounding the collapse of Barings have served to highlight weaknesses in risk management on the part of SIMEX and other futures exchanges. Barings’ collapse was due to the unauthorized and ultimately catastrophic activities of, it appears, one individual (Leeson) that went undetected as a consequence of a failure of management and other internal controls of the most basic kind. Management failed at various levels and in a variety of ways WHAT LESSONS ARE TO BE LEARNED FROM THE CASE/ DISASTER? HIGHLIGHTED WEAKNESS: (1) The lack of communication between securities and futures exchanges and regulators in different countries, and (2) Conflicting laws on the legal status of customer accounts at futures brokers and clearing agents in the event of insolvency. These weaknesses can be addressed only by increased international cooperation among futures exchanges, regulators, and lawmakers. * Management teams have a duty to understand fully the businesses they manage. * Responsibility for each business activity has to be clearly established and communicated. * Clear segregation of duties is fundamental to any effective control system. * Relevant internal controls, including independent risk management, have to be established for all business activities. * Top management and the Audit Committee have to ensure that significant weaknesses, identified to them by internal audit or otherwise, are resolved quickly. METALLGESELLSCHAFT: Metallgesellschaft AG (hereafter, MG) is a large industrial conglomerate engaged in a wide range of activities, from mining and engineering to trade and financial services. In December 1993, the firm reported huge derivatives-related losses at its U.S. oil subsidiary, Metallgesellschaft Refining and Marketing (MGRM). STRATEGIES AND TRANSACTION: CONTEXT: In 1992, MGRM began implementing an aggressive marketing program in which it offered long-term price guarantees on deliveries of gasoline, heating oil, and diesel fuels for up to five or ten years. The first was a â€Å"firm fixed† program, under which a customer agreed to fixed monthly deliveries at fixed prices. The second, known as the â€Å"firm-flexible† contract, specified a fixed price and total volume of future deliveries but gave the customer some flexibility to set the delivery schedule. STRATEGY: By September 1993, MGRM had committed to sell forward the equivalent of over 150 million barrels of oil for delivery at fixed prices, with most contracts for terms of ten years. Both types of contracts included options for early termination. These â€Å"cash-out provisions† permitted customers to call for cash settlement on the full volume of outstanding deliveries if market prices for oil rose above the contracted price. Its contracted delivery prices reflected a premium of $3 to $5 per barrel over the prevailing spot price of oil. MGRM sought to offset the exposure resulting from its delivery commitments by buying a combination of short-dated oil swaps and futures contracts as part of a strategy known as a â€Å"stack-and-roll† hedge. TRANSACTION: In its simplest form, a stack-and-roll hedge involves repeatedly buying a bundle, or â€Å"stack,† of short dated futures or forward contracts to hedge a longer-term exposure. Each stack is rolled over just before expiration by selling the existing contracts while buying another stack of contracts for a more distant delivery date; hence the term stack-and-roll. MGRM implemented its hedging strategy by maintaining long positions in a wide variety of contract months, which it shifted between contracts for different oil products (crude oil, gasoline, and heating oil) in a manner intended to minimize the costs of rolling over its positions. Had oil prices risen, the accompanying gain in the value of MGRM’s hedge would have produced positive cash flows that would have offset losses stemming from its commitments to deliver oil at below-market prices. As it happened, however, oil prices fell even further in late 1993. Moreover, declines in spot and near-term oil futures and forward prices significantly exceeded declines in long-term forward prices. As a result, contemporaneous realized losses. WHAT WENT WRONG? HOW WAS THE LOSS ACCUMULATED? Decline in oil prices caused funding problems for MGRM. The practice in futures markets of marking futures contracts to market at the end of each trading session forced the firm to recognize its futures trading losses immediately, triggering huge margin calls. Normally, forward contracts have the advantage of permitting hedgers to defer recognition of losses on long-term commitments. But MGRM’s stack-and-roll hedge substituted short-term forward contracts (in the form of short-term energy swaps maturing in late 1993) for long-term forward contracts. As these contracts matured, MGRM was forced to make large payments to its counterparties, putting further pressure on its cash flows. At the same time, most offsetting gains on its forward delivery commitments were deferred. MG reported losses of DM 1.8 billion on its operations for the fiscal year ended September 30, 1993, in addition to the DM 1.5 billion loss auditors attributed to its hedging program as of the same date. WHO WAS RESPONSIBLE FOR THE LOSS? MG’s board of supervisors fired the firm’s chief executive and installed new management. The board instructed MG’s new managers to begin liquidating MGRM’s hedge and to enter into negotiations to cancel its long-term contracts with its customers. This action further complicated matters. The actions of MG’s board of supervisors in this incident have spurred widespread debate and criticism, as well as several lawsuits. Some analysts argue that MGRM’s hedging program was seriously flawed and that MG’s board was right to terminate it. Others, including Nobel Prize-winning economist Merton Miller, argue that the hedging program was sound and that MG’s board exacerbated any hedging-related losses by terminating the program too early. WHAT LESSONS ARE TO BE LEARNED FROM THE CASE/ DISASTER? Considering the debate over the merits of MGRM’s hedging strategy, it would seem naive simply to blame the firm’s problems on its speculative use of derivatives. It is true that MGRM’s hedging program was not without risks. But the firm’s losses are attributable more to operational risk—the risk of loss caused by inadequate systems and control or management failure—than to market risk. If MG’s supervisory board is to be believed, the firm’s previous management lost control of the firm and then acted to conceal its losses from board members. If one sides with the firm’s previous managers (as well as with Culp, Hanke, and Miller), then the supervisory board and its bankers misjudged the risks associated with MGRM’s hedging program and panicked when faced with large, short-term funding demands. Either way, the loss was attributable to poor management. FINAL CONCLUSION OF BOTH CASES: The cases of Metallgesellschaft and Barings provide an interesting study in contrasts. Both cases involve exchange-traded derivatives contracts. In both cases, senior management has been criticized for making an insufficient effort to understand fully the activities of their firms’ subsidiaries and for failing to monitor and supervise the activities of those subsidiaries adequately. But while critics have faulted MG’s management for overreacting to the large margin calls faced by one of its subsidiaries, Barings’s management has been faulted for being overly complacent in the face of a large number of warning signs. If these two disparate incidents offer any single lesson, it is the need for senior management to understand the nature of the firm’s activities and the risks that those activities involve.

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