Thursday, October 31, 2019

Which came first law or social change Essay Example | Topics and Well Written Essays - 1000 words

Which came first law or social change - Essay Example (Calavita 45) discuses the factor of racial classification in the fourth chapter titled â€Å"The Color of Law† where she explains how the differences in race apply in the immigration law and racial profiling. Legal pluralism is the existence of different legal systems that operate together simultaneously. These systems operate on different levels of the society and usually they do not contradict each other in their provisions. An example of a pluralist legislative system interaction is the United States of America federal system where federal state and local laws operate together. The legal system works to come into consensus with some legal issues, the legal issues here include the death penalty, rights, and gun control, and minimum wage policies. The other form of legal pluralism accepted globally across multiple jurisdictions, which include female genital mutilation, human trafficking, and environmental provisions. (Calavita 27) on her sixth chapter talks about application of law across individuals in society, she elaborates the difference between â€Å"law on books and law in action† apply. According to her, there are laws that allow unequal treatment of individuals in society. The law in this instance does not discriminate on race, sex nor class but its resulting action in the application due to its structure. Discrimination in this case becomes evident in the application of the law in a way that it favors the privileged at the cost of the disadvantaged. The courts in their decisions make them in a way to favor the haves. There is also sexual discrimination where the system favors men, and the women marginalized. Political and class biases are evident. (Calavita 88) Legal pluralism exposes the tension between the law and society. When individual across the boundaries and the law applicable contradicts with the current law or law to be applied seen to be

Tuesday, October 29, 2019

The Internet and International Communication Essay

The Internet and International Communication - Essay Example Digital divide is also a barrier, in which internet inaccessibility poses a problem in convergence. Network convergence works on the basis of information flow for the purpose of decreasing the variance among the views and beliefs of the participants involved. Among a nation, these participants are the nation-states or ethnic groups. â€Å"†¦variance between groups or national cultures would become smaller over time as a result of international communication† (Barnett & Kincaid, as cited in author_last_name, p.159). When information flow is efficient and repetitive, network convergence will be able to unite the participants, and as a result, all the participants will achieve the same national identity due to decreased or even diminished variance among them. Yes, I believe so because universal culture will promote a universal set of accepted beliefs, values and standards. This will lead to lower variance and difference of opinions and perspectives among people of all nations. People will start accepting each other, and no one will consider the other persona as an

Sunday, October 27, 2019

My Dream Job A Business Manager Cultural Studies Essay

My Dream Job A Business Manager Cultural Studies Essay Personal qualities are the one of the key elements of employability .They are actually the real aspect of humans character. They are important for an employee to fulfill the requirements of the superior and the company.Especially in the communication of business.It is good for one to know his/her personal qualities so that one will know his own strength and weaknesses.A person with a huge range of personal qualities will be able to cope with people in the organization and become more successful in his career.In the development of a company,it will need bunch of people with good personal qualities to work together to create a perfect environment where everyone works happily.Different jobs will require different personal qualities because they have the different job scopes.Employees will select the new employees based on the personal qualities.So,personal qualities can also be defined as one of the qualification for the jobs that we apply for. My dream job- A business manager My dream job is to become a business manager.To fulfil the requirements of my dream job,I will need a lot of effort,hard work and also the personal qualities to make myself qualify for the job.As stated in The practice of management (Drucker, Peter F.),2004,p3,the manager is defined as the dynamic,life-giving element in every business.Without its leadership the resources of production remain resources and never become production.The role of a business manager is actually to observe and oversee the activities of the workers and make sure the operation runs smoothly to increase the productivity and the effectiveness of the workers.The business manager job is very challenging that it needs plenty of important personal qualities to help the company to improve the production. Personal Qualities for a Business Manager Be courageous A Business Manager will have to be courageous to take calculated risks,believe in what he is doing stick in his guns.He should be brave to take up challenges and always be ready to accept new challenges so that problems can be solved as fast as possible and become an inspirational leader to the team.Besides that,I can learn how to cope with stress and new duties to be completed.I need to make my sub-ordinates to have a people that is dependable. Effective Communication Business Manager need to employ effective verbal and non verbal communication.He should use clear and concise communication with everyone.It should be preferably be devoid of jargon and complex terminology.How well a manager passes on information and instructions for easy understanding of others is of paramount importance for his success.I will need to receive the messages from the superior and precisely transfer them to my colleagues.I will also need to understand the feedbacks from the sub-ordinates and try to figure out all of them. Self-motivation Self motivation is very important for a business manager in both internally and externally so he will be able motivate all his/her sub-coordinates as well.On the other hand,it is also important for the personal growth where this will also increase the productivity and overall efficiency of a team of people.Business manager has to solve many problems that occur to the people that he manages.A business manager will always think how to archieve the companys goal.I will try to motivate myself and try to solve all the problems before going to my superior. Leadership skills 3.4.1 A business manager must know how to lead all his team members effectively,so that he can always guide all his sub-ordinates since the he plays a very important role in a organization.He will need to encourage all the employees in the organization to be more productive at the workplace.He has to show confidence to the team members so that they will have the trust on the leader and this is the way to communicate with the employees to understand and solve the problems that they face.This will definitely increase the productivity and efficiency of work. 3.5 Decisive 3.5.1 I need to make a decision precisely in a short time.I will also need to become a good decision maker.As a business manager there are many things that I will need to handle and make decision for the issues of the employees of the company and also in my life.I need to lead all my team members to the right direction so that it will build trust between me and the team members to work more effective and strengthen the bond between me and my colleagues.All the decisions I make must be fair and I will need to use the problem solving skills to solve some of the issues and brainstorm for more solutions before making any decision. 3.6 Responsible 3.6.1 I have pay responsible in the growth and the development of my company.I have to organize all my team members according to their abilities and make sure that they do their part.In order to archieve the companys goals,I will need to make sure the operations of the company run smoothly and try to improve the interest of my colleagues in their work.I will have to get my duties done before the deadlines.Besides that a business manager will also have to build a positive and comfortable environment so that the employees of the company work happily and this will definitely improve the productivity. 3.7 Be punctual 3.7.1 As the business manager,I need to be punctual in meetings and to work not only to show the good behaviors to the colleagues but also to help in my personal growth and development in my life.A business manager need to manage his staffs,so he need to be punctual and reach the workplace before all his sub-ordinates reach.By being punctual,I can train myself to become a more productive person and increase the professionalism of myself. 3.8 Self-confidence 3.8.1 A business manager,I need to have self-confidence so that the sub-ordinates will listen and trust me and this will makes my job easier.I can easily get the co-operation from the employees.This can reduce conflicts and misunderstanding when all the staffs respect me as a manager when I have high confidence in myself to manage them with my experience and skills.Things will definitely go smoother when I have self confidence. 4.0 Conclusion All things considered,a successful business manager will need to have all the personal qualities .If a business manager is lack of leadership skills,time management skills and also confidence,he will not be able to take up the position.Employers will look for people who can increase the productivity and effectiveness in a team to work for them so that they can archieve their goals effectively in a short time.Personal qualities influence most of the things in a position.Without the personal qualities,a business manager will not be able to manage the team well.Thus,a person will have to qualify with all the personal qualities before going to a job interview.It is very important to understand the personal qualities of himself for personal development. Questions that I have asked What is one personal quality that you think you are different from other business manager? How you manage to convince your sub-ordinates to listen to what you say? Describe how you helped your sub-ordinates to solve a problem.What did you do? What is the procedure when you deal with problems with the attitude of the workers? Did you ever come late to work? Describe about a goal that you set for yourself in your work? Are you able to take up new challenges? Describe the processes of a major project that you handled in your company? The person that I have interviewed Name : Tham Fook Ming Position : Business Manager Company : Daisan Enterprise Relationship : Uncle Name : Yip Weng Long Position : Business Manager Company : Yokohama Batteries Sdn.Bhd Relationship : Uncle Name : Teoh Meng Kwan Position : Manager Company : Hup Heng Motors Sdn Bhd Relationship : Cousin Definition of conflict A conflict can be both good and bad. According to the book The business communication handbook. 6th ed. Julie Catalano, p.240.(2003) by Judith D, a conflict occurs whenever two people,teams or groups have different wants or goals and one party interferes with the others attempts to satisfy these.Differences in the way people interpret facts,differences in values, and the various ways people take action to satisfy their wants and needs can all cause conflict. The conflict happened to myself The conflict I have been involved is a relationship conflict happened to me and my girlfriend. We argued because of that she refuse to look for a job after her SPM examinations. She prefers to stay at home rather than going to look for a short term job so that she can learn something new to get some experience. The primary sources of my conflict 3.1 Bad attitude of her The primary source for my conflict is that her bad attitude that makes her to have this conflict with me. She is so stubborn that she will never listen or even analyze what other people advice her to do. I have been advising her for nearly two months so that she will get a part time job to spend her time. Every time we quarrel about this quarrel and ended up nothing. She complains that she feel boring when she stays at home but she refuse to get a job and she doesnt know how to use and manage her time wisely. She always says that she wants to enjoy first before taking any courses. When I give advice to her, she will keep on telling me that her parents didnt say anything when she just stay at home without doing anything and not going out to work. 3.2 Lack of understanding between each other We dont really understand each other although we have been together for a couple of months. Maybe I dont understand her deep enough and also how she thinks and reacts. Sometimes we might be confused of what the partner thinks and wants. This also related to our communication problem where sometimes what she hears is different from my original intention. This will also lead to the misunderstanding in this relationship. We have problems in communicating because she supports only her own opinion and not the advice by the people who have more experience. She will never try to understand my feelings although I do always share my thoughts and feelings with her. She always agrees with her own opinion. 3.3 Different Perspectives and background What she thinks is totally different with me since we have a different background as I come from poor family and while she is from wealthy family. In some situations we might see things in a different way. Her parents spoiled her by giving everything she wants because they have only one daughter and one son so, she loves to blame. Before she do something that will destroy our relationship, she will never think about the effects to me and she is just being selfish and do what she thinks will make her happy. Most of our ideas are different maybe because of that she is still young and has limited ability to think in more perspectives. She will follow her friends idea when too many friends suggest the same thing. Feedbacks from the other party She agreed with the primary sources stated above as she understands her own attitude and behavior. She did complain that we have communication problem as we often argue for a small matter. Every time after we argue, we found that we still cant solve the issue. Although she doesnt like my advice but then sometimes she realize that she is wrong. Secondary sources of the conflict Peer influence As she is still a teenager, she can easily be influenced by her friends where her friends have the same background as her. She will do what her friends say because she thinks that what they say is right. They always ask her to hang out in the middle of the night. She will still hang out with her friend without me. Although I told her that this could be dangerous, she never try to listen to me. Different Expectations The life she wants now is to enjoy every day without doing a single thing while what I want is to concentrate on my studies as I need to have some better achievements to show her parents that I can work something out. What she expects is to have a life as a rich girl and I just cant afford to spend her all those expensive stuff. I always tell her that I am not a rich guy and I cant give you most of the things you want now, she will tell me that she wont bother about that and after a few days she told me that she is a very materialistic person and I can see it. What she wants are all high expectations items which I dont think I can give her. Raising Problems She always complains that I dont want to spend some time with her. In fact I was so busy with assignments and projects and how could I spend my time with her when there are so many assignments to be done in just a few days. I happened to be in a scenario where I promised to hang out with her and suddenly something happened in my family and I tell her that I couldnt make it, she didnt even bother about me and scolded me that I broke my promise. She just mad at me and she stopped talking to me for a few days. She will never try to understand the problem and think positively before making any decisions. Approaching the conflict At the end, I know that both of us will need to approach the conflict no matter what. I asked her out and we talk about what both of us want and need. With the positive thinking we both listen to each other and accept the fact that actually both of us have mistakes in the conflict as this relationship involve of not only one person but both must pay responsible when problem arises. We sat down and started to accept the ideas by each other and analyze the problem with multiple solutions and choose the best solution for our conflict. She decided to listen to my advice and slowly change some of her bad attitude. After choosing the right solution and finally the conflict is solved. Importance of a brand name A brand is the identity and the image of the company that will help in attracting customers and marketing strategy. A brand name is important for consumers to identify the product, services and its producer also a promise to the customers and also makes advertising easier. Smart branding allowed the company to clearly communicate a change in direction while continuing to build its reputation.Branding also gives reasons why consumers choose the brand over all the other competitors.Consumers will always remember the name for a particular product or services.For example,when consumers think of carbonated drinks the first thing they that will come across is Pepsi and Coke.A better name can convince consumers purchase and decision making.The objective of a business can also be easily clarified by the brand name.When a brand is easy to be remembered it can be spread easily by a consumer to another consumer.A brand name can affect the sales performance of a company if the name is not suitab le for the product or services that a particular company provides. The Proposal Proposal on Changing of the Product Name To : Mr. Jason Dalz ( President ) Mr. Michael John ( Managing Director ) Mr. Justin Bryan ( Chief Executive Officer ) Date : 25th March 2013 Subject : Proposal on Changing our Cereals Product Name Regarding the subject above, as a product manager I would like to change the name of the cereal. I believe that this will give consumers a brand new image and also will attract more customers where this will increase the sales of our products. Statement of the Problem For the past 3 years, the cereal sales of our company is decreasing.Therefore,an official meeting was held on the 13th of March with the sales team to identify the problem and we found that the actual profit do not meet the minimum profit estimation. Sales for the Prohealth cereal for the year 2011-2012 Year Earnings ( Thousands) 2010 $450 2011 $400 2012 $ 320 The sales performance for the cereal brand named ProHealth Analysis of the Problem We did a research to identify the main problem where we have distributed survey forms to investigate the main cause of the problem.As a result, we found that the main cause of the sales drop is because of the brand name of our cereal product.The feedback from the customers shows that the brand name Prohealth actually sounds more like health products than cereal to a large amount of customers and because of that they seldom pay attention to our products.In addition to that, they also think that the packaging of our products is not attractive as the picture on the box showed a women with a bowl of milk.In fact, it does not look like a cereal product. From the customers feedback, some of the customers recommended us to rebrand the product with a new name and a brand new packaging as the t packaging for Prohealth can only attract customers mainly aged between 60-69 we will need to attract younger consumers to consume our products.The name Prohealth can never attract attention and it will never satisfy customers expectations. The packaging for the two products: The Packaging for ProHealth The Packaging for Cerealize Questionnaire What attributes are seen from this Prohealth cereal? Will you buy a product named Prohealth? Does the packaging looks attractive to you? If NO please state why? How satisfied are you with the usage experience of ProHealth products? Overall , are you satisfied with Prohealth Is there any aspect that you think Prohealth needs improvement? Do you think the name Prohealth is suitable for this cereal product ? If NO please state why ? Please give suggestion on the name that is suitable. The market research report is as follows: Market Research on preference of the two new brand names (000) Age 10-19 20-29 30-39 40-49 50-59 60-69 70+ Brand Name ProHealth 8 4 5 3 7 15 5 Cerealize 12 9 11 6 4 19 7 (Preference of consumers to the two brand names) Survey Form Name : Age : Which one do you think is the best name for our cereal product? Please tick and state why you dislike the other name. ProHealth Cerealize Reasons why you dislike the other ______________________________________________________________________________________________________________________________________________________ Solutions From the market research, we found that a new name for the cereal product will definitely show a brand new image to our customers. Customers would always expect the appearance of something new that they can have. From the research, some customers gave feedback on the name of our cereal product and some suggestions on the new name are given. A brand name is important attract customers and to affect the decision making of the consumers. The new name Cerealize is given by one of the customers after careful consideration that we pick from the list of selection of the new name.After a discussion with the marketing department, we found out a name that is suitable to become the new brand name of our cereal products which is the Cerealize where customers will have a clearer picture of what our products are about and what we produce. Once they see the word cereal, they will have an idea on their mind stating that this is a type of cereal product and the word lize brings a meaning specialize w here to show the consumers that our company is specialized in producing healthy cereals to the consumers. As the brand name is simple, consumers can easily recommend it to their friends. On the other hand, the packaging also should be changed as the illustration is not attractive. If they put a picture of some superheroes or cartoons on the box, this will attract kids to pay attention on our products and definitely they will convince their parents to buy it.This will help in widen the range consumers that we target. Hence, the sales of our cereal products will increase as the number of consumers increase. Conclusion In retrospect, the new name and a new packaging will definitely increase the sales of our products. It gives customers a new impression of our products and this name is suggested by one of the consumers. Besides that, it can also widen the range of consumers who consume our products. We can show a good image to the customers where we consider all the suggestion and feedbacks from the customers. Hence, this will build more credibility and the trust between the consumers and our company. After changing the name from ProHealth to Cerealize and the packaging of our products, I believe that our products will be more special than other cereal brands. I hope that you will consider adopting this idea of changing the name on the brand of cereal as this is the way to keep the good reputation of our company and to increase the sales performance of our company. Prepared by, ____YONG____ ( Yong Jun Keat) Product Manager

Friday, October 25, 2019

George Orwells 1984 :: essays research papers

George Orwell's 1984 Introduction- This story takes place in a state called Oceania. The main characters introduced are Winston Smith who is a worker on one of the four branches of government on Oceania. This four branches are â€Å"The Ministry of Truth† where they falsificate or remove all past documents such as books, newspapers, magazines, records, tapes and anything containing information about the past and are rewritten with the â€Å"accurate† meaning of whatever the Government (known as â€Å" Big Brother†) wants it to be. All past records are erased and everyone must believe what the new ones say or else they are caught by the Thought Police. The Thought Police are a group of modern people who are like the police of our time except that this police can see you every single second of your life through special devices that look like T.V.'s called Telescreens. This Telescreens are placed in the houses of people, outside buildings, parks, walls, anywhere they could be put and are always turned on. The Telescreens are constantly giving you information of the wars won and also telling you what to do and always watching every movement you do, no expressions are admitted in Oceania other than hatred or the one â€Å"Big Brother† tells you to. The second branch is called â€Å"The Ministry of Love† where people were punished, tortured and were taught to hate each other. The third branch is called â€Å"The Ministry of Plenty† where economic affairs were handled, they decided who got how much of something almost always being too little of a ration. The last branch is called â€Å"The Ministry of Peace† which handled all the war affairs such as where the next bomb they launched would hit and who they needed to destroy next. Big Brother had a slogan that read â€Å"WAR IS PEACE†, â€Å"FREEDOM IS SLAVERY† and â€Å"IGNORANCE IS STRENGTH†. Winston worked in the Ministry of truth where he's job was to rewrite the news on the newspaper called Times. Another character is O'Brien who helps Winston love Big Brother for Winston hated Big Brother. Julia is the girl that falls in love (which is a very big crime) with Winston. Katharine is Winston's wife though he hasn't seen her for three years. Eastasia and Eurasia are the two other states fighting for power with Oceania. The proles are the only people who are not controlled so much by Big Brother, they act as we do and can have their own believes, thoughts, feelings or anything they feel like. Emmanuel Goldstein is the boss of an underground brotherhood that wants to destroy Big Brother.

Thursday, October 24, 2019

Gorilla Behavior and Human Behavior Essay

Gorillas are often seen in the movies and television shows are big monster that people have to learn to deal with in the long run. Sometimes, gorillas are portrayed as scary creatures. There are times, however, when gorillas are shown as friendly animals which are a lot like human beings. Gorillas can be described and defined in many ways, especially with the help of mass media. Then again, in a scientific context, here is a gorilla really is: The Gorillas Population: There are a lot of living primates in the world, and the largest of its kind are gorillas. These are herbivores that live by dwelling on the ground. Most gorillas are found in Africa, especially in the forests of the said country (Alverdes, 1969). Gorillas survive very well in subtropical or tropical forests although a lot of them thrive in mountains and in different elevations. Elevated areas where gorillas can be found are the Virunga Volcanoes in Albertine Rift. Some gorillas thrive in the lowlands, too, where lots of them are found in marshes, swamps and thick forests (Alverdes, 1969). Gorillas Family Life: The family life of gorillas shows how much similar they are to humans. Gorillas are considered social creatures who typically build harems. Harems, in this context, means that silver back male gorillas will live with its offsprings and a lot of adult female gorillas (Alverdes, 1969). Then again, with the gorillas that live in mountains, only 40% of which have various closely-related male gorillas (Alverdes, 1969). Generally, gorillas groups contain more females than males. In fact, males in the gorillas family are considered â€Å"left-overs†. Male gorillas go round and about the forests alone. The male gorillas, being loners themselves, make up only five to ten percent of the general population of gorillas. An all-male group of gorillas even exists, all of which are found in elevated areas. This all-male gorillas group is called the mountain gorillas (Alverdes, 1969). Gorilla groups come in different sizes. On the average, there are only four to ten members in a gorilla group. It was in the Central African Republic where the largest gorilla group was found. The largest gorillas group was made up of 52 gorillas (Alverdes, 1969). Gorilla groups have leaders, too. What, then, happens when the leader of the gorilla group dies? It is either the whole group just gets dissolved, or a gorilla takes over. Like humans, gorillas have standards, too. The only gorilla who can take over the leadership is the son of the leader who passed away. If not, then it should be the subordinate silver back male gorilla (Alverdes, 1969). These western lowland gorillas are one of the sub-species of the family of gorillas. Each group is composed of ten gorillas and sometimes only six. The leader is the strongest and the fiercest male called the silver back gorilla (Alverdes, 1969). The leaders of such group are challenged, too, to know who deserves to take over. Adolescent males wait until they grow big enough for the challenge and if they don’t get the leadership in their hands, they can always leave home and be the leader of the new family he will have to build (Alverdes, 1969). Recent studies show that the 100,000 lowland gorillas in the western part of Africa are no longer 100,000. Today, there may only be around 50,000 gorillas left because of the trade in ape meat (which is illegal) and also because of a disease caused by ebola virus (Alverdes, 1969). Gorillas – A Lot Like Humans? Now here are some behavioral patterns that make gorillas and human beings similar to each other: Gorillas are generally aggressive creatures. Their aggressive behaviors found in the human population are their habit of headlong charge, roaring very loudly and beating their own chest (Derbyshire, 2007). With this, it goes to show that gorillas have a macho reputation like humans. However, despite this reputation, these creatures are very gentle especially when it is their time to eat their meals. Researches show that they also have the habit of cleaning their faces and fingers especially when they just finished consuming their food in a messy manner. If humans use water and soap to clean their fingers and faces, gorillas use giant leaves to replace what humans would call as napkins (Derbyshire, 2007). Dr Noelle Kumpel, a researcher from the Zoological Society of London in West Africa, was surprised when he saw how gorillas used leaves as napkins. How do gorillas do this? They simply tear big leaves from trees and plants. Gorillas wipe their hands and mouths after a meal. No one can deny that is a very basic human activity because before and after eating, humans really clean themselves up. They wash their hands and clean their mouths and dry themselves with a dry towel (Derbyshire, 2007). It has been mentioned awhile ago that gorillas, like humans, are social beings, too. Whatever image of gorillas there is that is portrayed on the television and the cinema are not any inch close to how they are in person. Gorillas are very gentle and delicate creatures, sometimes even gentler and more delicate than human beings. Members of the Zoological Society of London in West Africa observed the behaviors of gorillas in Gabon, a conversation park where lowland gorillas are found. They learned and witnessed with their very own eyes how gentle gorillas are compared to chimpanzees. They show sings of sympathy, friendship and leadership among themselves (Derbyshire, 2007). Another amazing thing about gorillas is that, like humans, they care about their diet, too. Observers discovered that gorillas follow a vegetarian diet. They only eat whatever they see around them, but it is limited only to fruits and leaves (Derbyshire, 2007). Like human beings, gorillas care about how they look. If they see a mud, bug or a flee in another gorilla’s body, they take it away from that gorilla’s body. It clearly goes to show that gorillas take pride in their hair which they consider a very significant part of their family life as gorillas (Derbyshire, 2007). Another surprising behavior that gorillas have is that they are technologically minded. If their cousin chimpanzees use stones, twigs and other tools to get some food, gorillas do it differently (Derbyshire, 2007). Like humans, gorillas find better ways to make life easier and more convenient for them. Gorillas use sticks to get to the other side of the pools and swamps or in some other areas they will otherwise not reach without the help of the sticks (Derbyshire, 2007). In A Nutshell: To summarize the whole study, what, in general, makes the gorillas similar to human beings? It is how they behave in a given environment and how they react to situations. It is with the way gorillas try to survive. It is with their ability to think. Not all animals will think about removing flees from another animal’s hair because only gorillas and human beings know the value of cleanliness and hygiene. The same goes with how gorillas tear giant leaves from trees and plants to clean themselves up after a meal. What makes gorillas and human beings a lot like each other is their ability to think, plan and execute the plans to come up with a result. It is basically about wanting to win the battle of survival called life which other creatures wouldn’t even be aware of. Works Cited: Alverdes, Friedrich. â€Å"The Social Life in the Animal World. † Routledge Press, 1999. Ciochon, Russell and John Fleagle. â€Å"Primate Evolution and Human Origins. † Aldine Transaction Press, 1987. Derbyshire, David. 20 June 2007. â€Å"How gorillas have perfect manners at meal times. † Daily Mail. 13 May 2008 . Fossey, Dian. â€Å"Gorillas in the Mist. † Houghton Mifflin Books, 1988. Taylor, Andrea Beth and Michele Lynn Goldsmith. â€Å"Gorillas Biology: A Multidisciplinary Perspective. † Cambridge University Press, 2004.

Wednesday, October 23, 2019

The Silver Linings Playbook Chapter 7

I Fear Him More Than Any Other Human Being After I returned to New Jersey, I thought I was safe, because I did not think Kenny G could leave the bad place, which I realize is silly now – because Kenny G is extremely talented and resourceful and a powerful force to be reckoned with. I have been sleeping in the attic because it is so ferociously hot up here. After my parents go to bed, I climb the stairs, turn off the ventilation fan, slip into my old winter sleeping bag, zipper it up so only my face is exposed, and then sweat away the pounds. Without the ventilation fan running, the temperature climbs quickly, and soon my sleeping bag is drenched with perspiration and I can feel myself getting thinner. I had done this for several nights, and nothing strange or unusual happened at all. But in the attic tonight I'm sweating and sweating and sweating, and through the darkness, suddenly I hear the sexy synthesizer chords. I keep my eyes closed, hum a single note, and silently count to ten, knowing that I am only hallucinating like Dr. Patel said I might, but Kenny slaps me across the face, and when I open my eyes, there he is in my parents' attic, his curly mane of hair haloed like Jesus. The perfectly tanned forehead, that nose, that eternal five o'clock shadow and sharp jawline. The top three buttons of his shirt are undone so that you can see a little chest hair. Mr. G might not seem evil, but I fear him more than any other human being. â€Å"How? How did you find me?† I ask him. Kenny G winks at me and then puts his gleaming soprano sax to his lips. I shiver, even though I am drenched in sweat. â€Å"Please,† I beg him, â€Å"just leave me alone!† But he takes a deep breath and his soprano sax starts to sing the bright notes of â€Å"Songbird† – and immediately I'm upright in my sleeping bag, repetitively slamming the heel of my right hand into the little white scar above my right eyebrow, trying to make the music stop – Kenny G's hips are swaying right before my eyes – with every brain jolt I'm yelling, â€Å"Stop! Stop! Stop! Stop!† – the end of his instrument is in my face, pounding me with smooth jazz – I feel the blood rushing up into my forehead – Kenny G's solo has reached a climax – bang, bang, bang, bang – And then my mother and father are trying to restrain my arms, but I'm screaming, â€Å"Stop playing that song! Just stop! Please!† When my mother gets knocked to the floor, my father kicks me hard in the stomach – which makes Kenny G vanish and kills the music – and when I fall back gasping for air, Dad jumps on my chest and punches me in the cheek, and suddenly my mom is trying to pull Dad off me and I'm sobbing like a baby; my mother is screaming at my father, telling him to stop hitting me, and then he's off me and she's telling me everything is going to be okay even after my father has punched me in the face as hard as he could. â€Å"That's it, Jeanie. He's going back to that hospital in the morning. First thing,† my father says, and then stomps down the stairs. I can hardly think, I'm sobbing so loudly. My mother sits down next to me and says, â€Å"It's okay, Pat. I'm here.† I put my head in my mother's lap and cry myself to sleep as Mom strokes my hair. When I open my eyes, the ventilation fan is back on, sun is streaming through the screen in the nearest window, and Mom is still stroking my hair. â€Å"How did you sleep?† she asks me, forcing a smile. Her eyes are red and her cheeks are streaked with tears. For a second it feels nice to be lying next to my mom, the weight of her small hand on my head, her soft voice lingering in my ear, but soon the memory of what happened the night before forces me to sit up – and then my heart is pounding and a wave of dread courses through my limbs. â€Å"Don't send me back to the bad place. I'm sorry. I'm so sorry. Please,† I beg her, pleading with everything I have, because that's how much I hate the bad place and pessimistic Dr. Timbers. â€Å"You're staying right here with us,† Mom says – looking me in the eyes like she does when she is telling the truth – and then she kisses me on the cheek. We go down to the kitchen, where she cooks me some delicious eggs scrambled with cheese and tomatoes, and I actually swallow all of my pills because I feel I owe it to Mom after knocking her down and upsetting my father. I am shocked when I look at the clock and see it is already 11:00 a.m. So I start my workout as soon as my plate is clean, double-timing everything just to keep up with my routine.

Tuesday, October 22, 2019

The modern finance theory is based on the capital asset pricing model The WritePass Journal

The modern finance theory is based on the capital asset pricing model Abstract The modern finance theory is based on the capital asset pricing model AbstractIntroductionTheory2.1 Prospect Theory2.1.1Certainty Effect2.1.2 Reflection Effect2.1.3 Isolation Effect2.2 Behavioural Capital Asset Pricing Theory2.3 Behavioral Portfolio TheorySome Models3.1 DSSW Model3.2 BSV Model3.3 DHS Model3.4 HS ModelAnomalies4.1 Closed-end fund puzzle4.2 the equity premium puzzleConclusionReferenceRelated Abstract As some anomalies are hardly explained by the traditional finance, the behaviour finance is introduced. It was first introduced by Kahneman and Tversky (1979), which they presented the prospect theory. In fact, investors’ behaviour often violates the expected utility theory, some of them trade irrrationally. Then Shefrin and Statman (1994) base on the CAPM, and put investor sentiment into the model to make the BAPM. They thought noise traders and information traders would interact and influenced the price setting, including the noise traders’ behaviour in the BAPM let the asset pricing more precise. Another important theory is the behavioral portfolio theory. The theory states that when investors choose portfolios, they on the one hand want to be security, while on the other hand they potentially also want to reach aspiration levels. So it lets BPT investors to choose bonds and lottery tickets together come true. According to these phenomenon which happen to investorsâ €™ portfolio selection, many researchers give their explaination. Generally speaking, bahaviour finance is based on two theories, which is limits of arbitrage and investor sentiment. DSSW model is based on the former theory while BSW model, DHS model and HS model are based on the latter one. There are also some more models in the behaviour finance area. These models can explain some anomalies, such as Closed-end fund puzzle and the equity premium puzzle. In this paper these two anomalies would be treated as examples to explain how behaviour finance explain these anomalies. Introduction The modern finance theory is based on the capital asset pricing model (CAPM), Markowitz’s Portfolio Theory, Arbitrage Pricing Theory (APT). The model CAPM is introduced by Sharpe (1964), Lintner (1965), and Black (1972). It provides the pricing mechanism of capital assets and the decision factor of risk isÃŽ ²(the relationship between firm returns and market returns). These theories are based on the Efficiency market hypothesis (EMH) and the CAPM can be used to test the EMH. While its analysis framework confined within the scope of rational analysis, when more and more anomalies arise in the market, they are hard to be explained by standard finance which is based on the EMH. In this situation, the questioning of modern finance beginned when the prospect theory is introduced by Kahneman and Tversky (1979). And then the behavioural finance is introduced to explain these snomalies. The definition of behavioural finance is that â€Å"Behavioural finance- that is, finance from a broader social science perspective including psychology and sociology- is now one of the most vital research programs, and it stands in sharp contradiction to much of efficient markets theory.† (Shiller, 2003 p83) It is a Marginal subject and opposite to the traditional finance, and it tries to explain the importance of investors’ emotion and mental mistakes, which would influence their decision-making process (Ricciardi and Simon, 2000). At first, behaviour finance is marginalized as â€Å" anomalies literature† (Frankfurter and McGoun, 2000).it has been researched for a long time, and then it has been accepted after more and more journals focusing on the discussion of anomalies. Section 2 of the paper explains three main theories of behaviour finance, which are prospect theory, behavioural capital asset pricing theory and behavioral portfolio theory. Section 3 presents some models which provided by the behaviour finance. Section 4 discusses the application of behaviour finance to explain anomalies. Section 6 concludes. Theory 2.1 Prospect Theory Prospect theory is the one of the most important theory in the behavioural finance. Investors   usually do not perform rationally, and prospect theory handles this issue. Expected Utility Theory is a kind of desceiptive model which is used to make decisions under risks, and the result is a criteria for investors to choose. While a large number of experimental research shows that investors choices are inconsistent with the basic tenets of utility theory. Kahneman and Tversky (1979) classify these differences into some areas, which is certainty effect, reflection effect and isolation effect. 2.1.1Certainty Effect Certainty effect is people often underestimate outcomes which are probable when compare outcomes which are received with certainty (Kahneman and Tversky, 1979). In order to demonstrate this issue, Allais (1953) gives a series of choice problems. On of the problem is that: Option 1: 2,500 with probability   0.33 2,400 with probability   0.66 0 with probability  Ã‚  Ã‚  Ã‚  Ã‚   0.01 Option 2: 2,400 with certainty The question is which option would give you the best chance to maximize your profits? The result shows that 82% people choose the option 2 among 72 people, most of them violated expected utility theory. According to the expected utility theory, the profit in option 1 (2500*0.33+ 2400*0.66+ 0*0.01= 2409) is greater than the option 2 (2400), while people prefer choosing the profit which is certain rather than choosing the profit which is risk. 2.1.2 Reflection Effect While when gains are replaced by loses, the result would be that the risk preference of people is contrary to the positive prospects, it transfers from risk aversion to risk seeking, and this is labeled as the reflection effect. For example, 92% people choose a probobility of 80% to loss 4000 when they are offered another choice which is a certainty loss of 3000. This example also shows that not only the positive domain violate the expected utility theory, but also the negative domain violate it in the same manner. 2.1.3 Isolation Effect When people choose one investment between alternatives, they usually exclude the common factors to consider, and focus on their different components. This division would lead to different reslults, for the same pair of investments can be divided into common and distinctive components in many different ways. This phenomenon is called the isolation effect. For example there is two-stage choice problem, the first stage is that people have a probability of 0.25 to go to the second stage, and in the second stage, you have to have a choice between the winning 3,000 of certainty and winning 4,000 of 0.8 probobility. The result states that 78% of 141 people choose the former one. While in this game, people should have had a choice between 0.25* 0.8= 0.2 possibility to win 4,000, and a 0.25* 1.0= 0.25 possibility to win 3,000, and this choice was demotrated by Allais (1953) that a marjor of people would choose a 0.2 chance to win 4,000. so in this situation, people ignore the first stage and based on the second stage to choose prospect. Prospect theory divides the choice process into two phases, one is editing and the other one is evaluation. Editing phase is used to analyse the options in order to get the simplified result, evaluation is to evaluate the edited prospects and choose one which has highest value. Editing includes four operations which are coding, combination, segregation and cancellation. According to the prospect theory, if a prospect is regular (p + q 1, or x ≠¥ 0 ≠¥ y, or x ≠¤ 0 ≠¤ y ), which also means neither strictly positive nor strictly negative, the equation would be: (1)  Ã‚   V(x, p; y, q) = Ï€(p) v(x) +Ï€(q) v(y) In this equation, the total value of an edited prospect is denoted V, and   it is expressed by two scales. The first scaleÏ€is connected with each possibility p and the decision weight isÏ€(p), the other scale is v, which the outcome is v(x) with a number x. the value of prospect in Equation (1) is the same as the result of expected utility theory. While if the prospects are strictly positive or strictly negative, they must use another rule. When prospects are in the editing phase, they are often divided into two parts, which is the riskless part and the risky part. The evaluation would use the next equation: If p + q = 1 and either x y 0 or x y 0, then (2)  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   V(x, p; y, q) = v(y) +Ï€(p) [v(x) – v(y)] It means that the value of a strictly positive or strictly negative prospect is the same as the sum of the value of the riskless part and the value-difference between the outcomes multipling the weight associated with the more extreme outcome. Investors evaluation base on the value function and weighting function (Kahneman and Tversky, 1979). Prospect theory uses value function to explain the same meaning of utility. There are two arguments in the value function, the first one is the asset position which can be treated as reference point, and the other one is the magnitude of the change from the reference point. Value function normally concave for positive outcome and convex for negative outcome, and the losses is steeper than the gains. When the value approachs to the reference point, the value fuction is steepest, and the whole value fuction is S-shaped. Decision weights are usually different from the probability axioms, investors often overestimate the small probabilities, this situation often happens in gambling and insurance. While for other situations, decision weights are commonly lower than the corresponding probabilities However, there are two drawbacks existing in the prospect theory. Firstly, it uses the value function and weighting function to evaluate theory, while there are no specific functions and instead using examples to explain. It is a kind of experimental process. Secondly, there is no specific standard for reference point, it makes the theory not so pricise. 2.2 Behavioural Capital Asset Pricing Theory The behavioural capital asset pricing theory is based on the capital asset pricing model (CAPM) and the difference is that the behavioural capital asset pricing theory consider the behaviour of traders. It focuses on the market which noise traders and information traders affect each other. Information traders are traders in the condition of CAPM, they obey the Bayesian learning rule to evaluate the returns and most importantly, they never make cognitive errors. However, noise traders are contrary to information traders, they commit cognitive errors and break the Bayesian rules. These two traders interact and determine the asset price. Market is efficient when information traders are dominant in the market, while if dominant traders are noise traders, market is inefficient. What is the difference between markets in which prices are efficient and markets in which prices are not efficient? The main difference is that there is a single driver property existing the market which prices are efficient. As Shefrin and Statman (1994, p345) said, â€Å"This single driver drives the mean-variance efficient frontier, the return distribution of the market portfolio, the premium for risk, the term structure, and the price of options.† It satisfies the minimun information which required to cause the changes to the outcome distribution of the market portfolio. While a second driver is introduced to the market by noise traders, and it let the price far away from the price efficiency. They often creat some abnormal returns to particular securities. The expected return of security is determined by behavioural ÃŽ ², which is the ÃŽ ² of tangent mean variance efficient asset portfolio. Noise traders’ action let the relationship between security returns and bet a weaker. While at the same time, they built a positive relationship between abnormal returns and beta (Chopra, Lakonishok, and Ritter, 1992). When the prices are efficient in the market, price efficiency protects particular noise traders. At that time, the function of noise traders is to rise the trading volume. However, if the prices are not efficient, new information cannot be a sufficient statistic. Yet prices, volatility, the premium for risk, option prices and the term structure are still influenced by old information. Noise traders affect the return of securities through the term structure and they can arouse inefficient inversion which exists in the term structure. The behaviourÃŽ ² is introduced by the behavioural asset pricing model (BAPM), when the noise traders are included in the model, the behaviourÃŽ ² represents a lower risk than the traditionalÃŽ ². The BAPM research a series of issues such as risk premium, the term structure, and option prices in the situation of existing noise traders. The BAPM not only considers the performance characteristics of value, but also includes the characteristics of utility, therefore, on the one hand it has to accept the market efficiency when considering the unbeatable market, on the other hand it must reject the market efficiency when consider the irrational behaviours. This contradiction lead the finance to further research. 2.3 Behavioral Portfolio Theory The behavioural portfolio theory (BPT) is introduced by Shefrin and Statman (2000) and it is based on the SP/A theory (Lopes, 1987) and Safety-First Portfolio theory (Roy, 1952). Roy’s (1952) safety-first theory and Markowitz’s (1952a) mean-variance portfolio theory are introduced at the same year, however their opinion are different to the Friedman-Savage puzzle. The former theory is consistent with the puzzle while the latter one is not. SP/A theory is a psychological theory and it has been a choice framework. Security, potential and aspiration are the meaning of letters SP/A and they also reflect investors’ choice under uncertainty. The efficient frontier of BPT is different from the mean-variance efficient frontier, and the optimal portfolios of BPT and CAPM are not the same. BPT investors think about the expected wealth when they select portfolios. On the one hand, they want portfolios to be security, on the other hand they potentially want to reach aspiration levels. So BPT investors combine bonds and lottery tickets together. The BPT is classified into two versions, a single mental account version (BPT-SA) and a multiple mental account version (BPT-MA). Their differences are that BPT-SA investors use a single mental account to manage their portfolios while BPT-MA investors use several mental accounts to integrate their portfolios. So BPT investors are the same as investors in the Friedman-Savage puzzle, they both present risk averse and risk seeking. They buy risk-free investments for the low aspiration mental account and buy speculative bonds for the high aspiration mental account. BPT-SA investors treat the portfolio as a whole like mean-variance investors, and they also take covariances into consideration. So the framework of choosing portfolio are similar between BPT-SA and mean-variance theory, the difference is that their efficient portfolios are not the same. Portfolios in the BPT-MA is like layered pyramids, and every layer has its own aspiration level. The bottom layer is designed to protect investors from poverty and the top layer let investors have a chance becoming rich. BPT-MA investors are quite different from BPT-SA investors, they ignore covariances and treat portfolios separately in to different mental accounts. Because BPT-MA investors ignore covariance between layers, there is a risk that they may put the same security but with different positions into different layers. The similar evidence is provided by Jorion (1994), he finds that when investors invest globally, they put securities and currencies into different layers of the pyramid, while he thinks the overlay structure is not so useful, because it overlooks covariances between securities and currencies and it leads to 40 basis points loss of efficiency. Some Models 3.1 DSSW Model Behaviour finance is based on two theories, which is limits of arbitrage and investor sentiment. According to the tradition finance, arbitrage plays a key role in achieving the market efficiency. Its basic point is that even irrational investors exist in the market and let prices deviate their value, rational investors would eliminate their influence to prices, and finally prices and the value are consistent. However, behaviour finance thinks arbitrage is not unlimited, one of the reason is that arbitrageurs are risk averse and have resonably short horizons, its posibility to be dominant is small. For example, when arbitrageurs sell assets short, they first must know noise traders are bullish and they must be bullish in the future, And then noise traders would buy back the stock. While it is hard to predict noise traders thought, so arbitrageurs have to bear the risk and this would limit their willingness to take position against noise traders. The model consists of noise traders and sophisticated investors. There are some investors not following economists’ advice to invest, and they only trust their own research. So Black (1986) called these investors who have no private information and irrationally act â€Å"noise traders†. Noise traders obtain lots of information which comes from technical analysts, economic consultants and stockbrokers and they falsely believe this information is useful to predict the future price of risky asset. So noise traders choose portfolios according to such incorrect beliefs Alpert and Raiffa (1982). On the contrary, sophisticated traders make use of noise traders’ irrational misperceptions. They buy stocks when noise traders depress prices, while they sell stocks when noise traders think prices would be bullish. According to the risk of noise traders, the model can explain some financial market anomalies. These anomalies are the excess volatility of and mean reversion in stock market price, the Mehra-Prescott equity premium, the closed-end fund puzzles and some other anomalies. However, there is a drawback existing in the model, which is that it can not explain how investors make decisions. The assumption is that investors base on the behaviour portfolio theory to choose their portfolios, according to the different layers, they make different investment choices even for same assets. 3.2 BSV Model A huge amount of empirical evidence have shown two kinds of pervasive phenomenon, which are underreaction and overreaction of stock prices. Underreaction means that investors predict higher average return than the actual average return when good news are announced. in other words, the stock underreacts to the good news. if the average return comes from a series of announcements of good news and it is lower when compared with the average return coming from a series of bad news announcements, it is defined as overreaction (Barberis, Shleffer, and Vishny, 1998). BSV model is introduced by Barberis, Shleffer, and Vishny (1998). Investors often present two phenomena, which is conservatism and representativeness heuristic. Conservatism can be defined that people often react slowly when people encounter new evidence (Edwards, 1968). When investors face evidence which has high weigh but low strength, they do not care much about the low strenngh and react moderately to the evidence. While if the evidence has high strength but low weight, they overreact it like representativeness. Representativeness heuristic is the second important psychological phenomenon (Tversky and Kahneman, 1974). It means that investors focus on recent patterns in the data while give little weight to the properties of the population which generates the data (Fama, 1998). In the situation of representativeness heuristic, if a company performs well in the past and has a high growth, investor would ignore the truth that this well perform would hardly repeat itself. The result would be that they overestimate the value of the company and be disappointed when the expected growth does not come true. The BSV model bases on the two phenomena, and explain how investors decision-making model leads to the market price deviating the efficient market. The model also deals with the problem why arbitrage is limited, the reason it that investors’ sentiment are hard to forcast. The more extreme of investorsà ¢â‚¬â„¢ sentiment, the more further of price away from the actual value. It is known that earnings are a random walk, while investors falsely classify them into two earnings regimes. They underreact or overreact to a change in earnings, these lead to short-term momentum in stock returns and long-term reversal. The BSV model perform well on the anomalies it was designed to explain, while the forcast of long-term return reversal is not so good. 3.3 DHS Model Daniel et al. (1998) also provide a model which includes investor sentiment to deal with the situation of overreaction and underreaction. They try to use psychological theory to support their framework and classify investors’ sentiment into overconfidence and biased self-attribution. Overconfidence is defined that investors often overestimate their forecast ability when they have more significant information than others, so they often overlook their prediction errors. Biased self-attribution is investors feel confident when they find public information is the same as their information, but the confidence would not decrease proportionately when public information is opposite to their private information. According to the DHS model, it has been known that investors overreact to private information, while on the contrary investors underreact to public information signals. When public information signals eliminate behaviour bias, this would lead to short-term momentum of stock returns while long-run reversal. The model can reconcile this situation, it transfers the wealth from imperfect rational traders (e.g. noise traders) to rational traders and then price setting is dominated by rational traders. While even in this situation, rational traders could not be predominance in the long term. De Long et al. (1991) state that noise traders are risk averse and they prefer investing more money to risky, high expected return assets, if they overconfident about the true information signals, they would obtain more profits than those rrational investors. The forcasts of DHS are similar with BSV, they share the same empirical successes and failures. And this comment can also apply to Hong and Stein (1997). 3.4 HS Model The model is provided by Hong and Stein (1999) in 1999, it also called the unified behaviour model. The model is different from BSV model and DHS model, it classifies agents into newswatchers and momentum traders. Each of them are restricted rational. Newswatchers making investment dicisions base on private information signals of movement of future values. Their drawback is that they do not use the current or past prices to choose portfolios. While on the contrary, momentum traders mainly base on the movement of past prices changes to invest. However, they also have limitations, which their forecasts should be â€Å"simple† function of the history of past prices. In this model, there is one more assumption, which is private information would spread slowly in the newswatcher group. The underreaction and overreaction are based on the private information spread slowly across the newswatcher population. As first, newswatchers underreact to the private information, then momentum tr aders try to make use of it to arbitrage, while it leads to overreaction. Anomalies 4.1 Closed-end fund puzzle There are some anomalies existing in the financial market, one of them is closed-end fund puzzle. The definition of it is that: â€Å"The closed-end fund puzzle is the empirical finding that closed-end fun shares typically sell at prices not equal to the per share market value of assets the fund holds† (Shleifer and Thaler, 1992, p. 75). The puzzle is that closed-end funds are sold with 10 percent premium at first, while after around 120 days, the premium of 10 percent moves to a discount of over 10 percent (Weiss, 1989). And then discounts fluctuate over the period of funds, they would narrow and then disappear until the closed-end funds terminate. This proposition has been researched in the past, they pointed out that the value of securities maybe overstate when compared with their true value of the assets. And they provided three explainations, which are agency costs, tax liabilities and illiquidity of assets. Generally speaking, agency costs are constant, it cannot let prices fluctuate. Moreover, it even cannot explain why rational invettors buy funds at a premium initially and finally sell them at a discount. Restricted stock and block discount hypotheses are two versions of asset illiquidity, they explain the reason to sell stocks at a discount, that is, trading fees are expensive. The tax liabilities’ explaination is that the gain tax has included in the funds, so discounts happen. while these three standard explanations cannot explain the puzzle together or separately. Another explaination is provided by De long, Shleifer, Summers and Waldmann (1990) (DSSW). They develop DSSW model to explain rational investors and noise traders interact in financial markets, and the key point is that noise traders’ sentiment are unpredictable. So the noise traders’ sentiment influence the demand of closed-end fund shares and then influence the changes in discounts. The model makes two hypotheses, they assume rational investors are short horizons, they focus on the interim resale of prices rather than the present values of dividends. The other assumption is that noise traders’ sentiment is stochastic and hard to predicted by rational investors. If investors are optimistic about the return of funds, funds will be sold at premia or only a little discounts. While if noise traders are pessimistic, it will result of a large discounts. There are two kinds of risk when investors hold closed-end funds, which are the risk of holding the fund’s portfolio and the risk of noise traders’ sentiment causing prices changes. If noise traders become continuously pessimistic about closed-end funds, this risk would be systematic. And then its influence will not be restricted in the closed-end funds. According to this aituation, it is easy to find that holding the fund is risker than holding its portfolio, and then prices of closed-end funds wou ld be lower than their true value. There is a fact that closed-end funds are mainly traded by individual investors. And individual investors also invest small stocks. According to the empirical evidence which researched by Shleifer and Thaler (1992), it shows that the performance of small stocks also influence the changes of discounts. If the small stocks do well, the discounts of closed-end funds would be narrow. 4.2 the equity premium puzzle When researchers observed the economy of the United States during 1889 to 1979, they found that the annual return of stocks was seven percent, however, the return of treasury bills was less than 1 percent after 1926. Mehra and Prescott (1985) stated that this huge gap causes from the huge difference of risk aversion. They explained the high equity premium with having excess of 30 risk aversion. While the actual figure observed is only close to 1. so it is a problem that why is the equity premium so large. Benartzi and Thaler (1995) gived two concepts which comes from the psychology of decision-making. The first one is loss aversion, and the other one is mental accounting. Loss aversion is similar with the Kahneman and Tversky’s (1979) descriptive theory. It becomes more sensitive to loss money rather than increase wealth. It is also opposite to the expected utility theory. Mental accounting is defined that â€Å"mental accounting refers to the implicit methods individuals use to code and evaluate financial outcomes: transactions, investments, gambles, etc† (Benartzi and Thaler, 1995, p.74). Investors are loss aversion, so if they invest stocks, they would care about the security of portfolios. While stock prices are fluctuated, frequent performance evaluation would make investors feel loss. So stocks are less attracted by investors. Only when the return of stocks keeps a high level, investors would replace bonds with stocks. Barberis, Huang and Santos (2001) explain this puzzle in another aspect and they introduce a model. The model not only bases on the onsumption but also bases on fluctuations of investors’ loss averse. As it is known to all, investors are sensitive to their decrease of wealth rather than to increase. And The changes of loss aversion depends on investors’ prior investment performance. If investors are profit in the prior period, they would become less loss averse. While if the loss is over the profit, or there existing loss in the prior period, investors would become more loss averse. According to this situation ,it needs a large premium to let investors hold stocks. However, the conclusion is made under some conditions. Firstly, researchers only use a single risky asset to do research for the sake of simplicity. So in the real economy which has lots of risky assets, it is not easy to identify what investors are loss averse about. Another one is that it is not clear to what range the preferences can interpret financial data and risky gambles. Conclusion The behaviour finance as a Marginal subject has been developed quickly during the recent years. It combines the finance, psychology, sociology and anthropology to explain finance. According to the empirical research of the finance market, some anomalies cannot be explained by the traditional finance. While the behaviour finance use a unique aspect to systematically explain these anomalies, such as Closed-end fund puzzle and the equity premium puzzle. compared with the traditional finance, the behaviour finance does not have a complete systematic theory. However, the prospect theory (Kahneman and Tversky, 1979), the behavioural capital asset pricing theory (Shefrin and Statman, 1994) and the behavioral portfolio theory (Shefrin and Statman, 2000) constitute the fundamental systematic behaviour finance theory. They introduce an evidence that investors not always perform as rational traders, there are a part of traders perform irrrationally. Traders do not obey the expected utility theo ry. Then talking about the prices setting, the original CAPM model which is used to set prices of asset is not appropriate, noise traders often commit cognitive errors and their actions would influence the price setting. So the BAPM model which includes the investors influence can make prices more real. The main point of BPT theory is that investors choose portfolios basing their different layers of needs. The bottom layer is designed to protect investors from poverty and the top layer let investors have a chance becoming rich. In order to explain anomalies, some models have been introduced. For example, DSSW, BSV, DHS and HS models. They investigate the influence of investors’ sentiment from two aspects, which are limits of arbitrage and investor sentiment. However, the behaviour finance has its inherent drawbacks. As Fama (1998) states that even the behaviour finance can explain some anomolies existing in the capital market, it does not mean market efficiency should be abandoned. The data shows that the frequency of overreaction of stock prices is the same as underreaction, so it can be seen that anomalies are chance results in the market efficiency hypothesis. Moreover, anomalies existing in the long-term return are fragile, they tend to be a reasonable changes. Behaviour finance is the sum of anomolies which EMH and CAPM cannot explain, And it does not have its own independent evidence. So the development of behaviour finance needs further research. Reference Shiller, R. J. 2003. From efficient markets theory to behavioral finance. Journal of Economic Perspectives 17, pp. 83-104. Ricciardi, V. and Simon, H. K. 2000. What is behavioral finance. Business, Education and Technology Journal, fall. Frankfurter, G. M., McGoun, E. G. 2000. Market efficiency and behavioral finance: the nature of the debate. The Journal of Psychology and Financial Markets 1, pp. 200–210. Allais, M. 1953. Le Comportement de 1Homme Rationnel devant le Risque, Critique des Postulats et Axiomes de 1Ecole Americaine. Econometrica 21, pp. 503-546. Kahneman, D. and Tversky, A. 1979. Prospect theory: an analysis of decision under risk. Econometrica 47(2), pp. 263-292. Chopra, N., Lakonishok, J. and Ritter, J. 1992. Performance measurement methodology and the question of whether stocks overreact. Journal of Financial Economics 31, pp. 235-268. Shefrin, H. and Statman. M. 1994. Behavioral capital asset pricing theory. Journal of Financial and Quantitative Analysis 29(3), pp. 323-349. Lopes, L. 1987. Between hope and fear: the psychology of risk. Advances in Experimental   Social Psychology 20, pp. 255-295 Roy, A. D. 1952. Safety-First and the holding of assets. Econometrica 20, pp. 431-449. Markowitz, H. 1952. Portfolio selection. Journal of Finance 6, pp. 77-91. Jorion, P. 1994. Mean-Variance analysis of currency overlays. Financial Analysts Journal 50, pp. 48-56. Shefrin, H. and Statman, M. 2000. Behavioural portfolio theory. Journal of Financial and Quantitative Analysis 35(2), pp. 127-151. De Long, J. B., Shleifer, A., Summers, L. H. and Waldmann, R. J. 1990. Noise trader risk in financial markets. Journal of Political Economy 98(4), pp. 703-738. Alpert, M. and Raiffa, H. 1982. A progress report on the training of probability assessors. In Judgment under Uncertainty: Heuristics and Biases, edited by Daniel Kahneman, Paul Slovic,   and Amos Tversky. Cambridge: Cambridge Univ. Press. Samuelson, P. A. 1958. An exact consumption-loan model of interest with or without the social contrivance of money. J.P.E. 66, pp. 467-82. Black, F. 1986. Noise. Journal of Finance 41, pp. 529-543. Edwards, W. 1968. Conservatism in human information processing. In: Kleinmutz, B. (Ed.), Formal Representation of Human Judgment. John Wiley and Sons, New York, pp. 17-52. Tversky, A. and Kahneman, D. 1974. Judgment under uncertainty: heuristics and biases. Science 185, pp. 1124-1131. Barberis, N., Shleifer, A. and Vishny, R. 1998. A   model of investor sentiment. Journal of Financial Economics 49, pp. 307-343. Fama, E. F. 1998. Market efficiency, long-term returns, and behavioral finance. Journal of Financial Economics 49, pp. 283-306. De Long, J. B., Shleifer, A., Summers, L. H. and Waldmann, R. J. 1991. The survival of noise traders in financial markets. Journal of Business 64, pp. 1-20. Daniel, K., Hirshleifer, D. and Subrahmanyam, A. 1998. Investor psychology and security market under and overreactions. Journal of Finance 53(6), pp. 1839-1885. Weiss, K. 1989. The post-offering price performance of closed-end funds. Financial Management Autumn, pp. 57-67. Shleifer, A. and Thaler, R. H. 1991. Investor sentiment and the closed- end fund puzzle. Journal of Finance 46(1), pp. 75-109. Mehra, R. and Prescott, E. R. 1985. The equity premium puzzle. Journal of Monetary Economics, pp. 145-161. Benartzi, S. and Thaler, R. H. 1995. Myopic loss aversion and the equity puzzle. The Quarterly Journal of Economics 110(1), pp. 73-92. Barberis, N., Huang, M. and Santos, T. 2001. Prospect theory and asset prices. The Quarterly Journal of Economics February. Hong, H. and Stein, J. C. 1999. A unified theory of underreaction, momentum trading, and overreaction in asset markets. Journal of Finance 54(6), pp. 2143-2184.

Monday, October 21, 2019

List College (Jewish Theological Seminary) Admissions

List College (Jewish Theological Seminary) Admissions List College Admissions Overview: With an acceptance rate of 52%, List College (a part of the Jewish Theological Seminary of America) is a somewhat selective school. Students interested in List can apply using the Common Application, which can be submitted online. Other required materials include a personal essay, scores from the SAT or ACT, letters of recommendation, and high school transcripts. For complete application instructions and important deadlines, be sure to visit the schools website. Students are encouraged to visit the campus; contact the admissions office for more information about getting a tour and seeing if List College would be a good fit. Will You Get In? Calculate Your Chances of Getting In  with this free tool from Cappex Admissions Data (2016): List College Acceptance Rate: 57%Test Scores 25th / 75th PercentileSAT Critical Reading: 650 / 725SAT Math: 640 / 690SAT Writing: - / -What these SAT numbers meanACT Composite: 28  / 32ACT English: 29  / 33ACT Math: 30 / 33ACT Writing: - / -What these ACT numbers mean List College Description: The Albert A. List College of Jewish Studies (List College) is the undergraduate school of the Jewish Theological Seminary of America located in New York City. It is closely affiliated with  Columbia University, and almost all List College students are enrolled in a dual-degree program with either Columbia or  Barnard College. The college has a 4 to 1 student faculty ratio and offers 11 bachelor of arts degree programs within the field of Jewish studies, such as ancient Judaism, Jewish history and Jewish gender and women’s studies, with the option to construct an individual interdisciplinary major. Most students choose to pursue a second bachelor of arts or a bachelor of science degree at Columbia or Barnard. Outside of academics, students are active on and off campus, participating in a variety of social, leadership and service activities at List as well as over 500 student clubs and organizations offered by Columbia and Barnard. Enrollment (2016): Total Enrollment: 371 (157 undergraduates)Gender Breakdown: 47% Male / 53% Female100% Full-time Costs (2016  - 17): Tuition and Fees: $52,660Books: $500 (why so much?)Room and Board: $14,460Other Expenses: $4,500Total Cost: $72,120 List College Financial Aid (2015  - 16): Percentage of New Students Receiving Aid: 54%Percentage of New Students Receiving Types of AidGrants: 51%Loans: 28%Average Amount of AidGrants: $26,471Loans: $6,523 Graduation and Retention Rates: First Year Student Retention (full-time students): 97%Transfer-out Rate: 16%4-Year Graduation Rate: 66%6-Year Graduation Rate: 79% Data Source: National Center for Educational Statistics If You Like List College, You May Also Like These Schools: American Jewish University: Profile  New York University: Profile | GPA-SAT-ACT GraphBrandeis University: Profile | GPA-SAT-ACT GraphBarnard College: Profile | GPA-SAT-ACT GraphBinghamton University: Profile | GPA-SAT-ACT GraphUniversity of Michigan - Ann Arbor: Profile | GPA-SAT-ACT GraphJohns Hopkins University: Profile | GPA-SAT-ACT GraphOberlin College: Profile | GPA-SAT-ACT GraphCornell University: Profile | GPA-SAT-ACT Graph List and the Common Application List College uses the  Common Application. These articles can help guide you: Common Application essay tips and samplesShort answer tips and samplesSupplemental essay tips and samples

Sunday, October 20, 2019

Competir Conjugation in Spanish, Translation, Examples

Competir Conjugation in Spanish, Translation, Examples The Spanish verb competir is a cognate of the English compete and typically has the same meaning. In some contexts, it is better translated as to compare with, to rival, or to fight for. Below youll find tables with the complete conjugation of competir.   How to Conjugate Competir in Spanish? Competir is a stem-changing verb, in this case meaning that in some situations the e in the stem becomes an i. The stem always changes when the second syllable is stressed. For example, I compete is compito instead of the regular competo. This change  based on stress occurs in most of the indicative present, all of the subjunctive (present and preterite), and most of the imperative (or command) forms. Additionally, the compet- stem becomes compit- in the third-person indicative preterite and the gerund, even though the change occurs in an unstressed syllable. All these forms are shown below, along with the forms that follow the regular pattern for -ir verbs- the imperfect indicative, future indicative, and the conditional indicative. The past participle also is regular. About two dozen verbs follow this pattern. Among the most common are impedir (to prevent), repetir (to repeat), servir (to serve), and vestir (to dress). Competir Present Indicative Possible translations for the Spanish present tense include, in addition to compete, variations such as is competing and does compete. Yo compito I compete Yo compito por mi pas. T compites You compete T compites en el campeonato de Uruguay. Usted/l/ella compite You/he/she competes Ella compite por increbles premios. Nosotros competimos We compete Nosotros competimos para ser los mejores. Vosotros compets You compete Vosotras compets con otras mujeres. Ustedes/ellos/ellas compiten You/they compete Ellos compiten en la Copa Mundial. Competir Preterite The preterite (sometimes spelled preterit) is the equivalent of the simple past tense in English. It refers to actions that were completed at a definite time. Yo compet I competed Yo compet por mi pas. T competiste You competed T competiste en el campeonato de Uruguay. Usted/l/ella compiti You/he/she competed Ella compiti por increbles premios. Nosotros competimos We competed Nosotros competimos para ser los mejores. Vosotros competisteis You competed Vosotras competisteis con otras mujeres. Ustedes/ellos/ellas compitieron You/they competed Ellos compitieron en la Copa Mundial. Imperfect Indicative Form of Competir The imperfect tense is used for past actions that arent seen as being complete at a definite time. Common translations are was/were verb -ing and used to verb. Yo competa I was competing Yo competa por mi pas. T competas You were competing T competas en el campeonato de Uruguay. Usted/l/ella competa You/he/she was competing Ella competa por increbles premios. Nosotros competamos We were competing Nosotros competamos para ser los mejores. Vosotros competais You were competing Vosotras competais con otras mujeres. Ustedes/ellos/ellas competan You/they were competing Ellos competan en la Copa Mundial. Competir Future Tense As in English, the future tense of Spanish verbs can be used not only for future actions but also as a type of extremely emphatic command. Thus, for example, competirs can be not just a statement of fact about future competing but also as a way of forcefully telling someone to compete. Yo competir I will compete Yo competir por mi pas. T competirs You will compete T competirs en el campeonato de Uruguay. Usted/l/ella competir You/he/she will compete Ella competir por increbles premios. Nosotros competiremos We will compete Nosotros competiremos para ser los mejores. Vosotros competiris You will compete Vosotras competiris con otras mujeres. Ustedes/ellos/ellas competirn You/they will compete Ellos competirn en la Copa Mundial. Periphrastic Future of Competir The periphrastic future in Spanish is the equivalent of the going to verb future construction in English. It is less formal than the standard future tense. Yo voy a competir I am going to compete Yo voy a competir por mi pas. T vas a competir You are going to compete T vas a competir en el campeonato de Uruguay. Usted/l/ella va a competir You/he/she is going to compete Ella va a competir por increbles premios. Nosotros vamos a competir We are going to compete Nosotros vamos a competir para ser los mejores. Vosotros vais a competir You are going to compete Vosotras vais a competir con otras mujeres. Ustedes/ellos/ellas van a competir You/they are going to compete Ellos van a competir en la Copa Mundial. Competir Conditional Indicative Yo competira I would compete Yo competira por mi pas, pero no tengo el puntaje necesario. T competiras You would compete T competiras en el campeonato de Uruguay si no estuvieras enferma. Usted/l/ella competira You/he/she would compete Ella competira por increbles premios si estuviera en el concurso. Nosotros competiramos We would compete Nosotros competiramos para ser los mejores, pero no tenemos rivales. Vosotros competirais You would compete Vosotras competirais con otras mujeres si hubieran ms equipos. Ustedes/ellos/ellas competiran You/they would compete Ellos competiran en la Copa Mundial, pero no clasificaron. Competir Present Progressive/Gerund Form The Spanish gerund is much like the -ing verb form in English. It can be used with estar in forming the progressive or continuous tenses. Gerund of Competir:  compitiendo  (competing) Ella est compitiendo por increà ­bles premios.   Past Participle of Competir Past participles are used with haber in forming the perfect tenses. Participle of  Competir:  competido  (competed) Ella ha competido por increà ­bles premios. Present Subjunctive of Competir The subjunctive mood is used considerably more in Spanish than in English. It can be used in dependent clauses, often to indicate reactions to or specify causes for the stated action. Que yo compita That I compete El gobierno demanda que yo compita por mi pas. Que t compitas That you compete Es buena idea que t compitas en el campeonato de Uruguay. Que usted/l/ella compita That you/he/she compete Antonio quiere que ella compita por increbles premios. Que nosotros compitamos That we compete Es importante que nosotros compitamos para ser los mejores. Que vosotros compitis That you compete Estamos felices de que vosotras compitis con otras mujeres. Que ustedes/ellos/ellas compitan That you/they compete Me alegra que ellos compitan en la Copa Mundial. Competir Imperfect Subjunctive The two choices below are used in the same way, although the first is more common. Option 1 Que yo compitiera That I competed El gobierno demandaba que yo compitiera por mi pas. Que t compitieras That you competed Era buena idea que t compitieras en el campeonato de Uruguay. Que usted/l/ella compitiera That you/he/she competed Antonio quera que ella compitiera por increbles premios. Que nosotros compitiramos That we competed Era importante que nosotros compitiramos para ser los mejores. Que vosotros compitierais That you competed Estbamos felices de que vosotras compitierais con otras mujeres. Que ustedes/ellos/ellas compitieran That you/they competed Me alegraba que ellos compitieran en la Copa Mundial. Option 2 Que yo compitiese That I competed El gobierno demandaba que yo compitiese por mi pas. Que t compitieses That you competed Era buena idea que t compitieses en el campeonato de Uruguay. Que usted/l/ella compitiese That you/he/she competed Antonio quera que ella compitiese por increbles premios. Que nosotros compitisemos That we competed Era importante que nosotros compitisemos para ser los mejores. Que vosotros compitieseis That you competed Estbamos felices de que vosotras compitieseis con otras mujeres. Que ustedes/ellos/ellas compitiesen That you/they competed Me alegraba que ellos compitiesen en la Copa Mundial. Imperative Forms of Competir The imperative mood is used for direct commands. Imperative (Positive Command) T compite Compete! Compite en el campeonato de Uruguay! Usted compita Compete! Compita por los increbles premios! Nosotros compitamos Lets compete! Compitamos para ser los mejores! Vosotros competid Compete! Competid con otras mujeres! Ustedes compitan Compete! Compitan en la Copa Mundial! Imperative (Negative Command) T no compitas Dont compete! No compitas en el campeonato de Uruguay! Usted no compita Dont compete! No compita por los increbles premios! Nosotros no compitamos Lets not compete! No compitamos para ser los mejores! Vosotros no compitis Dont compete! No compitis con otras mujeres! Ustedes no compitan Dont compete! No compitan en la Copa Mundial!

Saturday, October 19, 2019

Local Responsiveness Strategies Essay Example | Topics and Well Written Essays - 750 words

Local Responsiveness Strategies - Essay Example That is not what has made a big name for the company, which started only as a local coffee bean roaster (Fabricant 1992) The stimulating culture of growth that is apparent in the organization is striking. During its early days, in the 1980’s the company had a habit of opening two stores every day (Ruth, 2007). The management of the company even tried to venture new markets such as the Midwest. Well, some of their prospects did not yield gain as expected, but the visionary strategies employed to achieve those goals directly and indirectly concern our question of the study. For instance using the global standardization strategy, the company can manage to stir local attraction from customers. This concept is usually developed through careful analysis of the status of the company in the global market versus the status that the company wished to be. Thus, it is a series of processes through value chain analysis to seek competitive advantage given the abilities of the company, Star bucks in this case. Findings would most likely show that sales and marketing was one key factor that needed to be addres sed in an effort to establish a powerful global presence for Star bucks. Another strategy that would be vital to Star bucks success in motivating local responsiveness is an effective transnational strategy. This implies that, through a firm organizational structure, a high level of co-operation and interdependence is established leading to a coordinated flow of activities especially the daily operations. It is important to note that the headquarters in Seattle is expected to serve as the vital link to the global interconnection (Fabricant 1992). The result of such a powerful strategy was a resultant domestic attraction thanks to initiatives such as advertising that appealed customers increasing sales. International strategies have also been incorporated into Star buck’s projects, with a view to

Friday, October 18, 2019

Individual Report Essay Example | Topics and Well Written Essays - 2500 words

Individual Report - Essay Example As each level is attained, the entity that must provide motivation must look to the next level of needs in order to adequately find resources in which to promote achievement. Without a basic understanding of human needs, no other type of comprehensive framework will have any value. However, how those needs are satisfied is often subject to the way in which different cultures have created learned fulfillment. Where one culture may find that one level is easily satisfied, another may find that level difficult to attain. To be more specific, the people of one culture may find that monetary reward is enough to fulfill the needs expected through a work experience, where another may find that self-fulfilment is necessary to create motivation. While individual needs will always have the primary determining factor in creating motivation, those personal associations are framed by cultural learning that has defined the meanings behind satisfaction and how one is motivated to reach satisfaction . Terms of Reference This paper has been created in order to provide a framework for creating motivation within a multi-national team that has more than one culture to take into consideration when building a structure for incentives intended to build motivation within the organization (Halverson and Tirmizi 2008, p. 134). As a cultural consultant who understands the variety of nuances that go into the many cultures that inhabit this planet, it is my responsibility to make sure that the teams that are built within this organisation are motivated towards the goals of the company through focus on individual cultures that are then combined into a world culture that can be affected by the incentives that have been designed. Your organisation is involved with a great number of projects that are being worked on by teams with a variety of cultures coming together in order to get the job done. Because these projects take close knit focus that must come from individuals who have been socializ ed in very different ways, it is important for the company to best understand how to support the variety of needs that go into creating motivating factors. Without proper motivation, creativity and innovation on the projects that you have set forth for your teams will lag and the product will not reflect the level of quality that you have come to expect from your teams (Frey and Osterloh 2008, p. 21). Therefore, it is the job of a human resource consultant to help further the understanding of your organisation on how best to provide incentives in a multi-cultural team. The information that will be found within this report is based upon your need to find ways to motivate your teams. Through an understanding of how to create motivation across cultures, the organisation will find a more cohesive framework in which to create better team motivation towards the achievement of goals (Sorrentino and Yamaguchi 2008, p. 1). This paper will provide a better understanding of how motivation is c reated across cultures by defining what makes all human being similar, but then framing the question in regard to how different cultures interpret the satisfaction of those needs. Overview of the situation Introduction Currently, the company is seeing that motivation is not reaching all members of teams at an equitable level, therefore it is necessary to create this framework of understanding to better

Political Philosophy by Rousseau Essay Example | Topics and Well Written Essays - 1000 words

Political Philosophy by Rousseau - Essay Example He is free only if he can express his interest and individuality. He said, â€Å"Each man in giving himself to all, gives himself to nobody† (192). He was placing the individual in a responsible and responsive society that can create, run a government and participate in it. Collective decisions are the core of democracy, equality, liberty, fraternity. â€Å"As an ideal, the general will is, for Rousseau, a genuine universal†¦.It is the unity through which the addictive collection of wills gets its meaning,† Dyke (1969, p.23). Rousseau argues in favour of general will at every step. â€Å"The general will is the will of all when we are not thinking about our own selfish interests but about the general interest† Roberts (1997). . According to him if the laws of the land are good, it will reflect in the goodness of citizens and hence, the law is the root cause of good and bad both and so is highly significant. Especially the political, fundamental laws have to be wise and they connect the sovereign to people, one citizen to another, and connect the law to citizens. They also form the constitution of the state, which can wield power in every day life of the citizen. It is in the interest of all, it will affect all and rules all, and hence, participation of all is necessary. ... It is in the interest of all, it will affect all and rules all, and hence, participation of all is necessary. "Rousseau's theory has often been decried as too abstract and metaphysical. This is in many ways its great strength; but where it is excessively so, the accident of time is to blame" http://www.4literature.net/Jean_Jacques_Rousseau/The_Social_Contract/ He never talks of an individual without talking of collectivity. "The most basic convent, the social pact, is the agreement to come together and form a people, a collectivity"2.is "the real foundation of society," (p.59) and such general will must be "forced to be free" (64). His democracy is the most direct, extremely strong kind and it depended on the general will coming together frequently to make rules for themselves. They should identify each other and the common interests. We should remember that the states were smaller in those days. He did not want the common man to loosen his grip over the authority. "The constant will of all the members of the state is the general will; by virtue of it, they are citizens and free." He also says that liberty is impossible if the general will in majority ceases. "To renounce liberty is to renounce being a man, to surrender the rights of humanity and even it duties," he says on slavery and hence, making of law is the duty and right of the indi vidual. "This general will is supposed to represent the common good or public interest - and it is something that each individual has a hand in making. All citizens should participate - and should be committed to the general good - even if it means acting against their private or personal interests." http://www.infed.org/thinkers/et-rous.htm Even though he calls sovereignty as inalienable and

Terrorist Attacks and Risk Assessment Essay Example | Topics and Well Written Essays - 250 words

Terrorist Attacks and Risk Assessment - Essay Example According to the research findings, it can, therefore, be said that as much as terror attacks instill fear, the terrorist does so to get the target government to respond to their demands. Over the last decade, this strategy has worked in favor of the terrorist regardless the efforts by most governments in eradicating terrorism, elevating the risk and probabilities of terror attacks in future. The uncertainty surrounding risks of terror attacks is indisputable, making risk assessment very difficult. In the U.S., Homeland Security is the body tasked with the responsibility of assessing the risk of terror attacks. Homeland Security has formulated a model that analyses the risk of attack from three perspectives; the threat posed, vulnerability to attacks and the consequences of an attack. It has also categorized the risk into either asset-based or geographically based attacks. These developments by Homeland Security have helped in enhancing preparedness, ability to protect or respond to terror attacks. In conclusion, the current risk assessment is not good enough for any government to assure its people protection from terror attacks.

Thursday, October 17, 2019

Impact of a priority health issue on a population group and Case Study

Impact of a priority health issue on a population group and implication for the nurse - Case Study Example This paper discusses the impact of the issue on individuals, families and the population and its implications to the role of a nurse. People with mental health issues face a wide range of issues. To start with, they are at a higher risk for experiencing social problems, increased vulnerability to stigma and abuse, decreased quality of life, lower productivity, higher levels of poverty and more health issues. Access to education is highly compromised in case the mental disorder occurs early in an individual’s life it prevents them from successfully completing their education and careers (Commonwealth of Australia, 2008). It was found that individuals with mental issues are less likely to successfully go through their high school or tertiary education as compared to their counterparts without mental health issues. This negative cycle also contributes to high levels of homelessness among people with mental health issues. In fact, it is estimated that most of the Australian homeless population suffers from serious mental health issues. Furthermore, mental disorders result into decreased individual productivity owing to a decline in performance at work, unemployment and missed work. Mentally ill individuals do not have a source of income and this increases their risk to high levels of poverty. It has been observed that poverty and mental health issues relate in a negative cycle (Commonwealth of Australia, 2008). Poverty is seen as the risk factor for mental health issues. On the other hand, mental health issues contribute to stressors and a wide range of health issues. For instance, individuals that suffer from comorbid depression are less expected to stick to their medical treatment than other patients. Finally, individuals with mental health problems are more likely to suffer from discrimination based on their culture since immigrants are highly discriminated against by