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Choices about who Is viewed as poor and how they are to be helped are reliant on our monetary turn of events, political perspectives, and are frequently subject to government assets (Stern and Axial, 2012). In research, essential information sources are valuable while helping the student to totally see each feature of a theme as It identifies with the subject of conversation or a group of work. In accordance with social government assistance, it is crucial to construct an establishment which includes past, present and future happenings that will affect the assemblage of work.While doing investigate sites about essential reports as it relates social government assistance strategy, the accompanying site appeared to be helpful http://www. Ass. Gob/history/PDF/heisted. PDF. The Historical Development archive examines the historical backdrop of the U. S. Social Welfare structure. There is additionally an intuitive course of events accommodated the Social Security Acts and the Development of U. S. Government managed savings Programs. One is given a consecutive perspective on the movement of the Development of U. S.Social Security Programs, for example, joblessness, Public Assistance, Temporary Assistance for Needy Families In 1 996 TAN), Public Housing, National School Lunch Program and the Food Stamp Program, among a lot more projects. This device has given this student an understanding to the key authentic, political and get-togethers that have affected our nation. As The US drew closer the sass's, the Great Depression had arrived, which brought about our administration playing a more noteworthy job in helping poor people and the foundation of the Social Security Act of 1935.As one keeps on considering the historical backdrop of social government assistance, we will started to increase a superior comprehension of what drives our projects just as how we can add to their prosperity. Reference: Axial, J. , and Stern, M. (2012). Social government assistance: A past fil led with the American reaction to require (eighth deed. ). Boston, MA: Allan and Bacon. Http://www. Ass. Gob/holster/PDF/Halsted. PDF. Site Search By Krishna changes of today. Make certain to arrange your reference in legitimate PAP position in your The historical backdrop of Human Services is significant for us to see so we can get a handle on the objectives of our present social government assistance programs.

Williams Presents Essay Example for Free

Williams Presents Essay Eddie and Mickey were conceived from a similar mother Mrs. Johnston, yet they have amazingly various lives. They were indistinguishable twins; they appear to be identical. Be that as it may, Mrs. Lyons isolated them and caused them to have an alternate life. From that point on, one of them, Mickey remained with Mrs. Johnston lives in a major, poor family and the other one who was taken by Mrs. Lyons turned out to be rich and got everything. They have been in an alternate world in light of numerous elements encompassing them to rich or poor from the second they have been conceived. I think the most persuasive variables are the family they have and the family classes extraordinary. The diverse kind and level of instruction they have did likewise impact them much. Likewise, the religion of the family is one of the variables that influence the life of the kid too. Distinctive thing has diverse measure of impact to Mickey and Eddies life. I will examine the elements individually. The social setting is untidy at the time between late 70s and mid 80s that the play was set. It is called downturn. Margaret Thatcher is the Prime Minister; she urged individuals to rake in boatloads of cash. Therefore, the rich individuals in center or privileged can win a lot of cash yet the needy individuals in common laborers lost their positions. Life is exceptionally hard for common laborers, as they find more unfortunate without a line of work. Mickeys family is experienced this social atmosphere. His family is poor. Not at all like Eddie, his family is in working class, he is rich. They have an incredible differentiation in their life in light of the fact that the classes are unique. Marilyn Monroe is the social symbol of the day around then. She is charming, rich and she speaks to an existence of imagination. Everybody needs to be her. We realize that from the book on p. 14, Act 1, Scene 1, it said He revealed to me I was hotter than Marilyn Monroe, which is about Mr. Johnston said her significant other was hotter, lovelier than Marilyn Monroe. It shows the estimation of that time. Yet, that is the thing that very surprising from Mickey. Mickey is poor; he dressed scruffy. He lives in gathering house and his family is average workers. He doesn't have cash to purchase all that he needed. Be that as it may, Eddie, he is rich, he has new garments, and he looks savvy. He lives in private house and his family is working class. They are actually the equivalent, yet the method of living is extremely extraordinary with one of them is living in a rich domain and another lives in a poor world. This is the manner by which the classes distinctive impact their life. The size and individuals in their family have likewise affected them. Mickey has a major family with 7 siblings and sisters. The discourse of the mother in p. 14, Act 1, Scene 1, enlightened us regarding that. She stated: Seven hungry mouths to take care of and one all the more about due. Mickey is the most youthful in the family; he needs to battle for food and everything with the senior siblings and sisters. In this way, he needs to grow up quick and look intense to secure himself if there should arise an occurrence of pummeled by others. He additionally needs to his senior sibling Sammy in light of the fact that he needs to get more established so he can do all that he adores. We can perceive the amount he needs to be Sammy in the book on p. 30, Act 2, Scene 1, he has rehashed the sentences I want to be our Sammy. - for multiple times. He does everything Sammy did; in any case, Sammy was not a genuine model for Mickey to learn. So Mickey turns into a joker and streetwise since he has affected by his sibling Sammy. The group of Eddie, we realize that he is the lone kid in his rich family and they are in working class. He lives with his mum just the greater part of his life. We dont think a lot about Eddies father in light of the fact that the book doesn't make reference to about him much. Mrs., Lyons, Eddies mother, cherishes her child without a doubt. She gives him a decent safe house, gives him all that he needed. This makes exceptionally powerless and delicate and he won't know the hardship of the common laborers since life is simple for him. Time went through snappy by sensational gadgets in the book. We can perceive how much contrast among Mickey and Eddie over a significant stretch. From the outset, when they are conceived, they are very little not quite the same as one another in either class or instruction. Be that as it may, when they are at 17 years old, Mickey is dropped out from school and on the opposite side Eddie was going to University. At that point, when the two of them go to work, Mickey loses his activity and Eddie is the supervisor of a processing plant. The training level caused them to have such a major distinction. Mickey is poor taught as he left school when he was 17. He was concentrate in government school. Ordinarily, there is nothing terrible to concentrate in government school. Be that as it may, contrast with Eddie, Eddie was concentrate in tuition based school, he was accomplished. He could utilize a word reference at seven years old while Mickey don't have a clue what a word reference is. We realized that from the discussion among Mickey and Eddie. Eddie stated, I will find it in a word reference. from p. 33, Act 2, Scene 2. From the discourse of the storyteller at p. 56, Act 4, Scene 1, we know Mickey and Eddie are getting more established as they are 18. This is the activity of storyteller to take us through time and speed things up. Whirlpools goes into a University straight after he left his school yet around then Mickey was at that point dropped out from the school and working in a processing plant. At that point, Eddie found a new line of work, which is the manager of the industrial facility, straight after he completed his contemplating. At that point Eddie turns out to be extremely amazing and rich however the other one, Mickey, is only a laborer in an industrial facility! They are indistinguishable twins however we can perceive how training causes them to go into an alternate life. Strange notion is one of the impacts. Mrs. Johnston is offbeat as should be obvious from the few occasions from the book. On p. 18, Act 1, Scene 3, Mrs. Lyons put a couple of new shoes on the table then Mrs. Johnston saw it and advise her never do this. This is a notion imagining that something had will transpire, which you will never take note. This shows Mrs. Johnston is offbeat. I accept that she trusts in religion. What's more, this makes Mickey sort of offbeat too. He accepts what kindred spirit is. On the opposite side, I dont think Mrs. Lyons has any religion whatsoever. She doesn't regard Mrs. Johnston and consistently utilize the shortcoming of Mrs. Johnston, that she is eccentric, to constrain her into accomplishing something. From the start Eddie doesn't accept any notion things however Mickey impacts him. He respects Mickey and everything Mickey does. He loves Mickey and needs Mickey likes him also. On p. 32, Act2 2, Scene 2, we know Eddie offers desserts to Mickey. This reflected he is anxious to please. Eddie used to dont think a lot about informal until Mickey let him know. He thought everything Mickey said was crushing. What's more, he accepts that what Mrs. Johnston advised her on p. 35, Act 2, Scene 2, about bogeyman. This shows he is nai ve and guiltless. All in all, I can partition the effects on the lives of Mickey and Eddie in four principle areas. The contrasts among Mickey and Eddie in the family, the social class they are, the instruction they have and the religion of the family. They are indistinguishable twins yet they have a totally different life, I think it is on the grounds that these things that I have referenced before impacted them.

Happy Birthday!

Happy Birthday! Approximately one three-hundred-sixty-fifth of the people who read this blog post on any given day will be floored that some MIT admissions blogger is honoring them for their birthday, not to mention a little creeped out (ahh! Is Kate stalking me?). The rest of you are probably just confused. Let me clarify: If today does happen to be your birthday, have a good one, but believe me it’s just a lucky guess! (Read: I’m not a stalker, promise!) I’m writing about birthdays because this weekend I experienced my first two college birthdays. Okay, I should clarify that too: *I*’m not two years older than I was last Saturday, I was celebrating with friends. The important word to understand in that sentence is ‘celebrating,’ which means something completely different at MIT. The first birthday belonged to Esther J. ’14, my roommate, who turned 18 last Friday. As her roommate, my floor’s tradition dictated that it was my responsibility to bake her a cake. She was in one of the dorms in West Campus studying for most of Thursday evening, so we had time to make her an awesome chocolate banana cake (Aside: making banana [blank] is a really good thing to do when you’re stressed. Mashing up overripe bananas with a fork is such a good way to vent!) with homemade butter cream frosting. We raided the hall’s baking supplies and found sprinkles and icing, and voila: We finished up right around midnight, which meant that it was Friday morning, which meant that it was Esther’s birthday already, technically, so why wait? We called her home from West Campus and gathered the entire hall into the kitchen to ‘sing’ Happy Birthday. Why the quotes? That will soon become clear. Apparently, 18 candles is too many to just keep around, so we expressed Esther’s age in binary, using 5 candles and only lighting two: The candles were lit, and it was time to sing. All of the upperclassmen on my floor opened their mouths…and proceeded to shout, really loudly, continuously, for several minutes. According to some of them, people are actually singing Happy Birthday during this time, but all at different rates and pitches. So far as I can tell, people weren’t really forming words, just stopping to draw breath. It certainly didn’t sound like anything; I just shouted along for the fun of it. Let me talk a little bit about cutting cakes. Usually, when you have a square or rectangular cake, it gets cut into square or rectangular pieces. If you have a round cake, you cut it into wedges. There’s a body of mathematical work about how to fairly cut a cake so that everyone feels they’ve gotten their fair share. The most imaginative cake-cutting I’ve ever seen comes from my Uncle Dennis, who takes requests from my cousins and will carefully carve out such shapes as “the D, the S, and Pikachu’s left ear.” Esther’s rectangular birthday cake was cut in none of these ways. With instruction from our upperclassmen, she was handed a knife and proceeded to slash the thing into bajillions of tiny, triangular pieces, which disintegrated into crumbs in our fingers as we tried to eat them. It was a unique, hilarious, and no less delicious approach to cake-cutting. The next night, I celebrated with Natalia G. ’14 at the Tech Catholic Community’s Friday night pasta feed. Her birthday was actually last Thursday, but we celebrated with another homemade cake. While we were raiding the religious center kitchen for birthday candles, I told the story of Esther’s binary birthday. It turned out that a few of the people there had never learned binary, and didn’t know what all the fuss was about. And somehow, I found myself with a brown expo marker in front of a whiteboard in the small community room, teaching a mini-lesson on binary! We ended up finding plenty of candles, so the cake didn’t end up being that nerdy, and it was cut in nice, sensible, easy-to-eat rectangles after a much more musical rendition of Happy Birthdayâ€"a nice return to something resembling normalcy. Happy birthday, Natalia! Speaking of teaching, I’ve gotten a job through MIT’s Educational Studies Program, or ESP. I’ll be teaching math for SATprep on Sundays for about 10 weeks. Just when I thought I was done with standardized tests forever, I’m getting myself involved with them. ESP runs many more programs than just SATprep: they have an AP preparation series, intensive summer classes, and a weekend in November called Splash, when thousands of students descend on MIT to take classes in anything a teacher wants to teach. I still don’t know what I want to teach for Splash, but I have some ideas… There’s another birthday on my hall today (Happy Birthday Kamal N. ’14), but I swear after this blog post I will not be updating you on the birthdays of everyone I know. That’s what Facebook is for, anyways! Post Tagged #East Campus

The Perfect American Lifestyleof The 1950S. What Is The

The Perfect American lifestyle of The 1950s What is the perfect American lifestyle, was there ever a perfect American lifestyle. This paper will analyze Stephanie Coontz’s â€Å"What We Really Miss About The 1950s† and the idea of the ideal America Lifestyle. The perfect American lifestyle of the 1950s started with the ability to earn money as Coontz notes â€Å"it’s easy to see why people might look back fondly to a decade when real wages grew more in any single year than in the entire ten years of the 1980s combined† (Coontz). Growing wages allowed for more spending and more spending created for a better economy. However, Coontz says that the feeling for the 1950s was more than just money. As according to Coontz â€Å"it’s more than just a†¦show more content†¦Coontz once again shows skepticism as she says â€Å"Even people who do pick the 1950s as the best decade generally end up saying, once they start discussing their feelings in depth, that it’s not the family arrangements in and of themselves that they want to revive† (Coontz). Coontz finally shows the reason for her skepticism of the 1950s family. As Coontz says that â€Å"They don’t miss the way women used to be treated, they s ure wouldn’t want to live with most of the fathers they knew in their neighborhoods† (Coontz). Coontz starts to paint an ugly picture of the 1950s American family. And Coontz backs up her statement about women with an article from Judith Wallerstein â€Å"The Good Marriage: How and Why Love Lasts† says that â€Å"100 spouses in â€Å"happy† marriages, she found that only five â€Å"wanted a marriage like their parents’.† The husbands â€Å"consciously rejected the role models provided by their fathers. The women said they could never be happy living as their mothers did† (Wallerstein) Coontz goes on to say that really â€Å"What most people really feel nostalgic about has little to do with the internal structure of 1950s families† (Coontz). So maybe it was not all it was cracked up to be maybe it was more a â€Å"belief that the 1950s provided a more family-friendly economic and social environment, an easier climate in which t o keep kids on the straight

Pretend to Burn a Dollar With This Chemistry Trick

Economical Analysis of Asset Prices Free Essays

Economic Analysis of Asset Prices Introduction The most recent economic crisis, from which the global economy is still reeling, started in 2007, approximately one year after the ‘sub-prime’ housing market in America buckled under its own weight, putting pressure on the financial markets across the world. This economic crisis, argued to be the worst financial crisis since the Great Depression in the 1930s (Brunnermeier, 2009), led to a dramatic reduction in the volume of bank lending along with non-price rationing of credit, which is known as a ‘credit crunch’ (Brunnermeier, 2009; Shaffer and Hoover, 2007). The financial crisis was felt all through the economy in many countries and led to the failure of many businesses including major banks and financial houses, a reduction in consumer wealth, considerable financial commitments incurred by governments, and an overall significant reduction in economic activity for approximately two years (Nataste et al. We will write a custom essay sample on Economical Analysis of Asset Prices or any similar topic only for you Order Now , 2009). This paper assesses how and to what extent events of the financial crisis beginning in 2007 reflect asset-pricing inefficiencies in stock markets and housing markets. The discussion begins with an overview of the events that led up to the financial crisis. The second substantive section explicitly discusses the criteria used in assessments of ‘efficiency,’ while the third substantive section assesses how these criteria can be applied in the context of the crisis. The paper concludes with a discussion of some insights from behavioural economics. Background: The Financial Crisis of 2007 In 2007, approximately one year after the ‘sub-prime’ housing market in America crumbled, the most recent global economic crisis began, straining the global financial markets (Nataste et al., 2009). There are three main, interrelated factors that led to the crisis: a preceding period of exceptional macro-stability, the global savings surplus, and innovation within the financial markets (Dimsdale, 2009, Mizen, 2008, Pomfret, 2010). First, one of the precursors of the economic crisis was a period over which there was extraordinary stability in the American and European economies. Second, there was a global savings surplus from emerging economies, which supported extremely low long-term interest rates in these countries, which allowed those in the money market to have access to cheap money. These credit booms led to excessive debt burdens (Claessens, 2009). Third, there were several innovative financial products being introduced on the market, such as mortgage-backed securi ties, but financial innovation also led to more complexity, higher leverage, and weaker underlying assets (as they were dependent on ‘sub-prime’ mortgages, which is explained in more detail below). This point is supported by Pomfret (2010) and others, who argues that the financial system has become more vulnerable to crisis because of innovation and development in the financial sector combined with easy monetary policy stemming from the stable macroeconomy and very low interest rates at the beginning of the millennium. Sub-prime mortgages were offered based on ‘self-certification of income,’ and therefore allowed a lot of people who previously lacked the financial capacity to purchase property under the existing system (which was based on applicants’ income), were able to access these mortgages (Chatterjee and Lefcovitch, 2009). And even at higher interest rates it was an attractive offer at the beginning of the millennium because the macroeconomy was stable, interest rates were very low, and the housing market in the USA was buoyant (Crouhy et al., 2008). Houses prices in America and in other markets, such as the UK and Iceland, rose sharply in the period preceding the crisis, generally fuelled by quickly increasing levels of available credit, which resulted in sharply increased household debt (Brunnermeier, 2009; Claessens, 2009). Given the extended period of macroeconomic stability, a fall in house price across the entire US was not anticipated, indeed such an occurrence had not been accounted for in the models used to assess the risk of the sub-prime mortgages and the other sources of credit that were readily available during this period (Mizen, 2008). When house prices did fall, the number of borrowers defaulting on their payments increased greatly in the sub-prime mortgage sector, and this was the eventual trigger for the economic crisis (Brunnermeier, 2009; Mizen, 2008). So one of the key features of the most recent crisis was the increases in asset price (particularly the price of houses) that turned out to be unsustainable, which caused a housing bubble (Claessens, 2009). When the housing bubble burst, banks and other financial houses had to write down many hundred billion of dollars in bad loans that had been caused by the fact that many mortgage holders were unable to pay their loans and so became del inquent (Brunnermeier, 2009). Additionally, the stock market capitalisation of the major banks was reduced by more than twice as much as the amounts that had to be written down (Brunnermeier, 2009). Asset Pricing and the Efficient Market Hypothesis How are assets, like houses, pricedAccording to Brunnermeier (2001), asset prices are determined by information that is public available and generally dispersed among a lot of market participants who try to deduce the information that other participants have by analysing price processes. Additionally, asset prices are determined by market participants’ expectations about the future profits on the assets. Whenever new information becomes available, market participants may have to re-evaluate these expectations about the future asset prices. It can therefore be expected that the information available in the market is important such that asymmetric information, for example, would affect asset prices and traders’ information inference. The efficient market hypothesis (EMH) is the idea that market, such as the stock market or the housing market, is informationally efficient, meaning that all information about a security or asset is known by the participants in market, and consequently by all potential investors (Ehrhardt and Brigham, 2008). More specifically, informational efficiency refers to how much information is revealed by the price process and prices are deemed to be informationally efficient if they fully and correctly contain all the available information (Brunnermeier, 2001). There are three types of informational efficiency, strong, semi-strong, and weak, and this depends on the amount and type of information reflected in the asset price (Brunnermeier, 2001). According to Ehrhardt and Brigham (2008), EHM holds that (1) stocks are in equilibrium at all times and (2) it is not possible for an investor to constantly get better than average returns on the market than the risk of her investor warrants. EHM essentially suggests that, beyond the normative utility maximising market participants, market participants have rational expectations and on average the market prices are correct, even though any one or all market participants may be incorrect. That is, even if individuals are wrong, the people as a community will be engaged in forecasting the stock prices, which will be done by using all the available information. As soon as some new information is available in the market these people will change their estimates immediately. As a result of this conduct, the prices in the stock market totally reflect the existing information as well as reflect the precise inherent value (Ehrhardt and Brigham, 2008). EMH depends on the fact that stock prices follow a ‘random walk,’ meaning that price changes are not dependent on each other (Ehrhardt and Brigham, 2008). This suggests that all information is equally known and considered by the market as individuals, and as such there is little or no chance for arbitrage in the market. It is not considered to hold in all cases, but in enough to promote the capital market line, a correlation between the market and the equities and securities and assets that make it up (Granger, 1992). In an efficient market, competition ensures that (Ehrhardt and Brigham, 2008): New information is quickly and fully assimilated into prices; All available information is reflected in the stock price; Prices reflect the known and expected, and respond only to new information; and Price changes occur in a random manner. There are three forms of the theory, weak, semi-strong, and strong (Ehrhardt and Brigham, 2008; Granger, 1992). Weak form efficiency posits that current market prices reflect all information from history. This suggests that prices in the market reflect all the information that has been made available in the past. As a result it would not be possible to get surplus returns by use of methodological analysis but could be done through fundamental studies of the market. Hence, the fluctuations in the price of the stock should be unpredictable and unsystematic (Ehrhardt and Brigham, 2008). Semi-strong form efficiency is based on the notion that market prices reflect all publicly available information, and this means that availability of any new public information makes the markets react spontaneously in a particular fashion. Thus, agents react quickly to such information making the discovery of possible missed stock prices through deep analysis useless (Granger, 1992). Finally, strong form efficiency is based on the notion that market prices reflect all information, both public and private (Ehrhardt and Brigham, 2008). In the case of strong-form efficiency hypothesis, it is assumed that not only the public information but also private information has a bearing on the stock prices, this might include information which is available only to a handful of individuals and they would use this information to make enormous profits (Granger, 1992). Even so, such huge returns are not achievable because stock prices tend to immediately adjust by accounting for the most sensitive information. As a result, it would be of no benefit to engage in insider trading as the trader would be in the same position as to that of the person trading without this information (Ehrhardt and Brigham, 2008). The benefit of the EHM over ad hoc formulations of expectations is that it gives market participants a simple, general and credible manner of dealing with expectations (Ehrhardt and Brigham, 2008). However, the soundness of the hypothesis has been questioned by many, some of whom accuse the notion that markets are rational for much of the recent financial crisis. The next section assesses how and to what extent events of the financial crisis beginning in 2007 reflect asset-pricing inefficiencies in stock markets and housing markets, specifically assessing how these criteria can be applied in the context of the most recent financial crisis. How and to What Extent Events of the Financial Crisis Beginning in 2007 Reflect Asset-Pricing Inefficiencies in Stock Markets and Housing Markets? This section discusses the extent of asset-pricing inefficiencies in the stock markets and housing markets based on the four criteria outlined above. First, was new information quickly and fully assimilated into pricesSecond, was all available information reflected in the stock priceThird, did prices reflect the known and expected, and respond only to new informationAnd finally, did market prices changes occur in a random manner? In examining the questions, the role of complexity has to be acknowledged. In neoclassical economics model, agents (investors) make the best (optimal) choices regardless of the difficultly of the problem with which they are dealing (Ehrhardt and Brigham, 2008). However, examining the recent economic crisis, one of the key lesson is not that mortgage takers in the sub-prime sector of the housing market did not understand the complicated terms of the mortgages they had been offered, rather the key lesson is that the lenders (the firms that bought these securitised mortgages) did not seem to fully understand the risks that were intrinsic in these assets (Brunnermeier, 2009; Thaler, 2008). As previously noted, innovative financial products introduced into the market, such as mortgage-backed securities, also introduced greater complexity (Mizen, 2008). Acharya et al. (2009, p. 4) outline innovations in financial products that made it unlikely that stock prices and housing prices (1) refle cted all available information or (2) assimilated new information quickly and fully. These are: (1) New exotic and illiquid ?nancial instruments that were hard to value and price; (2) Increasingly complex derivative instruments; (3) The fact that many of these instruments traded over the counter rather than on an exchange; (4) The revelation that there was little information and disclosure about such instruments and who was holding them; and (5) The fact that many new ?nancial institutions were opaque with little or no regulation. Additionally, even when the crisis had been exposed, the magnitude of the bank’s and other financial institutions’ exposure remained unclear, as well as full information on who was at risk through counterparty failure (Acharya et al., 2009). This supports the idea that the lenders did not fully understand the intrinsic risks that in the securitised assets they held as argued by Thaler (2008). According to Acharya et al. (2009, p. 5): Private ?nancial markets cannot function properly unless there is enough information, reporting, and disclosure both to market participants and to relevant regulators and supervisors. When investors cannot appropriately price complex new securities, they cannot properly assess the overall losses faced by ?nancial institutions, and when they cannot know who is holding the risk for so-called toxic waste, this turns into generalised uncertainty. Based on this it can be argued that new information was not quickly and fully assimilated into prices nor was all available information reflected in the stock price during the 2007 crisis. This leaves two questions to be discussed: did prices reflect the known and expected, and respond only to new information and did market prices changes occur in an unpredictable wayThe evidence seems to suggest that neither of these happened. Discussion and Conclusion The EHM has been disputed based on both empirical and theoretical bases, particularly by behavioural economists who ascribe the imperfections in financial markets (such as asset price inefficiencies discussed above) to a range of cognitive biases that include overconfidence (or ‘irrational exhuberance’), overreaction, representative bias, information bias, as well as a range of other unsurprising human errors in reasoning and information processing (Addleson, 1995). For example, DeBondt and Thaler (1985) argue that investors are likely to be affected and involved with the optimism as well as the pessimism of shown by the overall market. This leads to systematic deviation in the prices from the usual fundamental values. This overreaction owing to the past events falls on the same lines as the theory outlined by Kahneman and Tversky (1979), in which investors tend to be overconfident and overoptimistic about the forecasting of their future corporate earnings and stock pric es. The findings support the ‘contrarian strategy’ in which an investors would buy stocks, or at times a group of stocks which have not been performing for long periods of time, while avoiding the ones that have had a good long run over the last few years (DeBondt and Thaler, 1985). Speculative economic bubbles such as the housing market bubble discussed here, tend to be clear anomalies in the market, that is, the market often seems to be driven by buyers operating on irrational exuberance, who then disregard the underlying value of the asset being traded (Ehrhardt and Brigham, 2008). This seems to be the case in the housing bubble. As outlined above, the boom in credit available to households was connected with the creation of marginal assets whose practicability was dependent on favourable macroeconomic conditions continuing for a long period. In America, to some extent the UK (such as with Northern Rock), a great percentage of the mortgage expansion consisted of loans extended to subprime borrowers with little or no credit and employment histories, as outlined above (Claessens, 2009). Debt servicing and repayment were, thus, susceptible to economic downturns and variances in credit and monetary conditions. (Claessens, 2009, p. 3) therefore argues that â€Å" [t]his maximised default correlation across loans, generating portfolios highly exposed to declines in house prices – confirmed ex-post through the large non-performing loans when house prices declined.† Other explanation of motives could also be presented here. For example, Brunnermeier (2009, p. 82) noted that there was a decline in the quality of credit leading up to the crisis as â€Å"[m]ortgage brokers offered teaser rates, no-documentation mortgages, piggyback mortgages (a combination of two mortgages that eliminates the need for a down payment), and NINJA (‘no income, no job or assets) loans.† While this can be blamed on other motives, such as predatory lending, this also occurred because of irrational exhuberance as outlined by Brunnermeier (2009, p. 82): â€Å"All these mortgages were granted under the premise that background checks are unnecessary because house prices could only rise, and a borrower could thus always refinance a loan using the increased value of the house.† These bubbles are typically followed by an overreaction of frantic selling because, the fall in the value of the asset backed by high leverage eventually leads to the forced ?re sale of the asset (Acharya et al., 2009; Brunnermeier, 2009). This was seen in the most recent financial crisis. For example, Bear Stearns’ the funds had lost over 90 percent of their value before the firm almost went bankrupt (Acharya et al., 2009). Similarly, the run on the assets of three structured investment vehicles (SIVs) of BNP Paribas was so severe that BNP Paribas had to suspend redemptions (Acharya et al., 2009). Overall, the discussion contained in this paper indicates that asset-pricing inefficiencies in stock markets and housing markets had a big impact on the events of the financial crisis beginning in 2007. References Acharya, V., Philippon, T., Richardson, M., and Roubini, N. (2009). Prologue: A bird’s-eye view – The financial crisis of 2007-2009: Causes and remedies. In Acharya, V. and Richardson, M. (eds.), Restoring Financial Stability: How to Repair a Failed System (p. 1-56). Wiley. Addleson, M. (1995). Equilibrium versus Understanding: Towards the Restoration of Economics as a Social Science. New York, NY: Routledge. Brunnermeier, M. (2001). Asset Pricing under Asymmetric Information: Bubbles, Crashes, Technical Analysis, and Herding. Oxford: Oxford University Press. Brunnermeier, M. (2009). Deciphering the liquidity and credit crunch 2007-2008. Journal of Economic Perspectives, 23 (1): 77-100. Claessens, S. (2009). The road ahead to a sustainable global economic system. Presented at the Annual Bank Conference on Development Economics (ABCDE) Seoul, Korea, June 22-24. Available online at http://siteresources.worldbank.org/ INTABCDESK2009/Resources/Stijn-Claessens.pdf [accessed 20 January 2011]. Crouhy, M., Jarrow, R., and Turnbull, S. (2008). The sub-prime credit crisis of 2007. The Journal of Derivatives, 16 (1): 81-110 De Bondt, W. and Thaler, R. (1985). Does the stock market overreactThe Journal of Finance, 40 (3): 793-805. Ehrhardt, M. and Brigham, E. (2008). Corporate Finance: A Focused Approach.Mason,OH: South-Western Cenage Learning. Granger, C. (1992). Forecasting stock market prices: Lessons for forecasters. International Journal of Forecasting, 8 (1): 3-13. Kahneman, D. and Tversky, A. (1979). Prospect theory: An analysis of decision under risk. Econometrica, 47 (2): 263-292. Mizen, P. (2008). The Credit Crunch of 2007-2008: A discussion of the background, market reactions, and policy responses. Federal Reserve Bank of St Louis Review, September/October: 531-568. Nastase, M., Cretu, A., and Stanef, R. (2009). Effects of global economic crisis. Review of International Comparative Management, 10 (4): 691-699. Shaffer, S. and Hoover, S. (2007). Endogenous screening, credit crunches, and competition in laxity. Review of Financial Economics, 17 (4): 296-314. Thaler, R. (2008). 3Q2008. Fuller Thaler Asset Management. Available online at http://www.fullerthaler.com/reviews/newsltr2008Q3.pdf [accessed 20 January 2011]. How to cite Economical Analysis of Asset Prices, Essay examples

Accounting Systems Designs and Development

Question: Discuss about theAccounting Systems Designs and Development. Answer: Introduction Valle del Lili foundation a private non-profit firm found in 1982 aims at delivering tertiary medical care. The organization offers clinical care in more than sixty medical specialties. It also serves as a teaching hospital where ICESI University medical students receive training. As of 2006 they embarked on an ambitious plan of expanding their services offering through the construction on new facilities holding new additional beds, emergency room and ambulatory service. As of December 2010, the number of beds after the ambitious action had increased by 60%. Hence, the growth tends to put tremendous pressure on all patient delivery procedure. Looking at integrated information system aspects that VLF has handled well include; the head of the ICU has developed a type of relationship with the full time doctors which tends to act as a cornerstone for medical care being provided around the clock at the health centre. Hence, this tends to be significant because as there is integration in the information system, it gives the doctors the ability to understand nature of patients they serve; there are also other medical specialists scheduled to be either on hand or on call. Hence, this makes every doctor practice good medicine, advance their physician skills and develop high standards in the firm (Bumgarner, 2013). Hiring of Compunet to implement SAP and develop applications and need to carry out application needed for the purpose of carrying out the synapsis project was an ambitious step. It came out to be an important factor because it would include 2,200 end users. Mapping out what they want to achieve was a significant step; this is because it developed an expeditious approach where there is efficiency in supply chain management, accountability, maintain-ace and effectiveness of the human resource; whose business process was totally in-line with SAP functionality. In regards to the controls that VLF put in place so as to mitigate the restraining forces of change, they developed an ambitious objective. More than electronic medical records they integrated the clinical and administrative procedures through unified picture of the entire delivery process. Hence, they rose to the challenge by project governing. Here, component manager joined the synapsis team, as the executives committees were responsible for all decisions (Haggar, 2007). To avoid the challenges and maintain a successful transition, they involved a wide range of stakeholders in the designing team. Gomez states that he remembers appointing his best nurses who were familiar with delivery procedure, both clinical and administrative. The suggestion developed by Compunet of forming a cross-functional design team of VLF subject tends to matter to experts and component to consultants. In this case, every team was too led by a consultant known as integrator who was held responsible for the entire process (Wu Zhu, 2014). During other instances the CEO met regularly with synapsis committee for assessment of the project progress, as well as solving impasses that developed between component consultants and designing teams. Hence, this was a vital step to tackle the challenges emerging as there is efficiency in the project developed (Craig, 2006). References Bumgarner, V. (2013).Implementing Splunk: big data reporting and development for operational intelligence. Birmingham, Packt Pub. Su, D., Zhu, S. (2014).Advanced design and manufacture V Haggar, S. E. (2007).Sustainable industrial design and waste management: cradle-to-cradle for sustainable development. Amsterdam, Elsevier Academic Press. Craig, R. L. (2006).The ASTD training and development handbook: a guide to human resource development. New York, McGraw-Hill.

Foreign Minister Shimon Peres - Address at the Israeli-Palestinian Interim Agreement Ceremony free essay sample

Tawa - Facts and Figures

Tawa - Facts and Figures Name: Tawa (Pueblo Indian name for a sun god); pronounced TAH-wah Habitat: Woodlands of North and South America Historical Period: Middle Triassic (215 million years ago) Size and Weight: About 7 feet long and 25 pounds Diet: Meat Distinguishing Characteristics: Small size; bipedal posture About Tawa Although its evolutionary relationship to Tyrannosaurus Rex is a bit overstatedafter all, it lived about 150 million years before its more famous descendantthe early theropod Tawa still counts as a major discovery. This small, bipedal dinosaur lived 215 million years ago on the supercontinent of Pangaea, which later split into North America, South America and Africa. Based on an analysis of its remains, Tawa appears to have originated in South America, though its bones were found farther north, near the famous Ghost Ranch cite in New Mexico thats yielded countless Coelophysis skeletons. Will Tawa really cause paleontologists to rewrite the book of dinosaur evolution, as some breathless accounts surmise? Well, its not as if bipedal, South American, meat-eating dinosaurs were rare on the groundwitness, for example, Herrerasaurus, which we already know lay at the root of the dinosaur family tree, not to mention those numerous (though native to North America) Coelophysis specimens. Like the Asian Raptorex, another recent discovery, Tawa is being described as a miniature T. Rex, though this seems to be a gross oversimplification. Over and above its presumed resemblance to T. Rex, whats important about Tawa is that it helps to clear up the evolutionary relationships, and ultimate origins, of the earliest theropods. With this missing piece of the fossil puzzle in place, the discoverers of Tawa have concluded that the very first dinosaurs evolved in South America in the early to middle Triassic period, then radiated out worldwide over the ensuing tens of millions of years.

Unit 2 Individual Project Essay Example | Topics and Well Written Essays - 1250 words

Unit 2 Individual Project - Essay Example Apple’s lack of debt may also be a weakness because it could be susceptible to a stock acquisition by a group of companies. Since it has not issued dividends to its investors for several years, this could be a cause for loss of confidence.(Salkever, 2004) The possibility to gain from the widespread use of the new wireless system called Nike +iPod, where the wearer’s running shoes will be gauge how many miles have been run and how many calories burned.(Fox News Report, 2006). Threats posed by fluctuating exchange rates, because most of Apple’s sales are international. A value in the value of the US. Dollar would decrease the net receivables while an appreciation would reduce demand due to higher prices. 2. There are some important elements that must be noted from the above analysis, which serve to explain the reasons for Apple’s continued strength in the computer market. The ability to create brand and customer loyalty has played a significant role in Apple’s success, especially because it also allows its employees participation in the Company’s profits which has improved their motivation and retained skilled employees within the Apple corporate framework. Apple’s constant innovative strengths have also been a factor helping it to weather the changes in the market and emerge resilient despite those changes. Its product diversification has ensured that its product lines are tailored to suit a variety of customers. Moreover, since Apple is financed mainly through its own equity, there is less risk posed to investors in Apple stocks because the Company also has extra cash available to help it deal with an emergency. But this ownership of equity is also operating as a weakness from the shareholder point of view. The Apple Company has not been paying dividends to its stockholders, which is one of its greatest weaknesses. The attractiveness of Apple stocks is

The Impact Of Civil Disobedience And The Use Of Morality And Justice Essay

The Impact Of Civil Disobedience And The Use Of Morality And Justice To Support The Civil Rights And Occupy Movements - Essay Example In addition, personal views on the subject shall be made in support of civil disobedience and occupy movements (Geschwender, 66). As such, the fantasy theme technique of analysis will be used to analyze so of the occupy movements in the contemporary society in America. Specifically, it has been noted that the right to civil disobedience means that the system should exhibit lenience to civil disobedient movements not just because the movements are right, but when they are rationally misunderstood in their views. On one hand, this is unlike the typical laissez-faire perception based on which the right to civil disobedience implication that everybody should show tolerance to civil disobedient people, however destructive in their action. According to Dworkin, a famous proponent of the ordinary open-minded perception, a principle of civil disobedience has to be responsive to the kind of assurances the movements have and insensate to the logicality of these assurances. On his perspective i n making decisions on issues like, as whether to penalize rebellious movements, it is pertinent to inquire whether the assurances are integrity-based, justice-based, or policy-based (Geschwender, 71). Nevertheless, the reliability or irrelevance of these assurances is not significant. ... Risking retribution, like violent in reprisal acts or detention, they try to show transformations in the law. In the contemporary society, civil disobedience has been utilized in such occasions like street protests, marches, the occupying of buildings, and strikes among other economic opposition (Becker, L. & Becker, 69). The rationale behind civil disobedience dates back to conventional and biblical foundations. Probably, its most prominent exhibition is established in Henry David Thoreau's On the Duty of Civil Disobedience (1849), whereby he asserts that a being, who gives the government its authority in the first place, should adhere to the orders of ethics in contrasting unjust laws (Ginsberg & Miller-Cribbs, 27). Thoreau's writing had a massive influence on Mohandas Gandhi and the methods that were utilized, first to attain Indian rights in South Africa, and later to win independence for India. Gandhi founded the idea of Satyagraha (meaning: holding to truth), acts of civil diso bedience associated with Indian virtues and his personal high moral statutes as well as a sense of integrity. He attracted a huge number of supporters through the use of an efficient opinionated tool and played a major role in establishing the British view to end colonial rule of Gandhi’s homeland. The belief and techniques of civil disobedience have been embraced by Quakers and other sacred movements, the British labor movement, suffragists, feminists, adherents of prohibition, pacifists and other war resisters, followers of the less privileged, and a wide range of other dissidents. Dr. Martin Luther King Jr. was the most exceptional doctrinaire and founder of civil disobedience in the United States (Ginsberg & Miller-Cribbs, 60). He was on the

Ethical And Unethical Factors Of Leadership Management Essay

Ethical And Unethical Factors Of Leadership Management Essay Ethical leadership is important to achieve organizational long term goals. There are some factors that influence the ethical leaders traits in the organization. These factors include leaders morality, trustworthy, honesty, authenticity, and authority. Some unethical and toxic leaders effects organizational objectives. The primary objective of this study is to present the factors that influence ethical and unethical behaviours of leaders in the organizations. Ethical decision making is done by ethical leaders through organizational ethical code of conduct and decision rules. Next, it is followed with organizational top management (effective leaders) importance in implementation of ethical programs to their subordinates. This is also explains the importance of corporate culture to achieve effective ethical leadership. Next part of this study describes Leader Member Exchange (LME) theory. Importance of this theory is also elaborated. This is followed with people and task orientation lea dership roles. Nature of this ethical leadership style is explained with CISCO chairman and CEO, John Chambers. Lastly, this study explains the transformational ethical leadership with five dimensional model of transformational leadership. This study differentiates ethical and unethical behaviours incorporated in transformational leadership style. Organizational ethical behavioural improvement strategies are effectively illustrated at the end. Ethical and Unethical Factors Ethics is a code of moral principles and values that governs a person behavior with respect to what is right or wrong (Daft, 2008). Organization success is mostly depends on different leaders. Leadership in the organization is important to achieve the objectives and goals because they provide direction and process to the employees. Leaders have to establish the ethical standards and moral values in the organization. This will help the followers to change their behaviors. Every leader in the organization should act as ethically. Ethical leader characteristics are identified in the organization based on some set of factors. These factors include leaders moral behavior, vision, communication, collective environment, and program (task) procedures (Daft, 2008). These factors should implant with organizational social and ethical values. Organizational leaders with these ethical characteristics are identified as ethical leader. The factors that influences the unethical leadership is due to growing complex of the business, increase speed of information flow, and augmented pressure from top management about employee performance (Toor and Ofori, 2009). These factors influence the ethical leader to be act as unethical. Leadership is to act purposively and ethically according to the organizational needs. Toor and Ofori (2009) said that collective components of integrity, ethical standards, and strong relationship with employees are most important characteristics of the ethical leaders. Ethical leaders in the organization are strong moral persons and managers. Strong moral persons have characteristics of honesty, trustworthiness and reliable to others. When it comes to moral manager, they are very open to their followers by explicitly talks about the ethical standards and empower employees to achieve goals in the organization. Toor and Ofori (2009) have given some dimensions to the ethical leadership. They are mo rality and fairness, role clarification, and power sharing. These dimensions are adopted from fellow multi cultural leaders behaviour. One more important factor that influences the ethical or unethical leadership behaviour is decision making process. Ethical leaders have vision to achieve long term goals of an organization. This is key factor that influence the decision making process. It means that effective ethical leaders are not interested in short term goals. This kind of thinking helps the leaders to maintain good relationships between employees. This will achieve the effective communication between the employees. In order to implement this kind of ethical bevaiours, leadership requires high motivation, influence process strategies and self transformation of ethical standard conduct. Most of the authors research works suggested that there is special importance on organizational top senior executives because these people have ability to lead the company in ethical way (Athure and Melea, 2006). Most of the employees in the organization believe that their leaders are more ethically and honest. These kinds of beliefs bring some impact on the corporate culture of an organization. It means that organizational code of ethics should be incorporate with corporate culture (Athure and Melea, 2006). This can be done through ethical leadership because most of the employees in the organization are motivated by these ethical leaders. Ethical organization is build through the support of top management (Carlson et al., 1995). It means that the top management should support the local ethical leaders to establish ethical organization. For instance, McDonald has established ethical code of conduct through companies CEO and senior management because they are effective ethical leaders of that company (Carlson et al., 1995). These senior management and CEO have effective communication with their subordinates to achieve ethical requirement into new employee ethical training programs (Carlson et al., 1995). In order to build ethical behaviours, company has started some ethical programs such as ethical training to change internal values of employees, reorganization of ethical violations and finally increase awareness on organizational ethical code of conduct among the employees. This kind of organizational ethical behaviours can be constructed only through effective and efficient ethical leader. Effective ethical leadership is measured through two key factors. Those are degree of empowerment of employees by their leaders and identify leaders motivation and character towards organizational objectives. Leader Member Exchange (LME) Leader Member Exchange (LME) theory is implemented for ethical leaders to achieve ethical leadership behavior. This theory will provide good relationships between the leaders and subordinates. This helps the leaders to clearly specify job roles, task, and role ambiguity in effective manner. The relationship between LME and ethics is to respond ethically with employees in the organization when they have any ambiguities in the workplace. There two major leadership roles in the organization. They are people and task orientation leadership roles. Ethical leadership in people orientation role has mutual trust and more openness between the leaders and employees (Mendonca and Kanugo, 2007). Job roles and tasks are effectively defined in task orientation role by the ethical leader (Mendonca and Kanugo, 2007). For instance, John Chambers who is the chairman and CEO of CISCO systems. Chambers used to use the following statement. That is We want to create the greatest company in the history and We want to change the world (Chambers, 2009). This is kind of leadership represents people orientation leadership styles because Chambers is uses to use a word called WE. This represents collaborative work through people orientation leadership style. Chambers is achieving task orientation leadership through people orientation leadership style. This is also represents transformational leadership style as well. Transactional and Transformational Leadership According to Kanungo (2001), authenticity and authority of the leadership behavior is expanded through leaders moral standard conduct and integrity. Most of the transactional leaders are self centered, untrustworthy, more authorities, and manipulative (Toor and Ofori, 2009). According to Toor and Ofori (2009), transformational leaders have different ethical bevaviours such as moral character, strong concern for self and others, and ethical values. These ethical values are deeply manipulated with organization vision. Ethical leaders are very important to the organization to achieve its long term goals effectively. According to the recent research works, the transformational or charismatic leaders ethical behaviour reaches to higher moral standards (Kanungo, 2001). These kinds of ethical behaviours are contrasted by transactional leaders. Transactional leaders establish control strategies to influence the followers. When it comes to transformational leaders, they use empowering techniq ues rather than control strategies. These empowering strategies demonstrate exemplary behaviours, helps to increase confidence, provide more resources to accomplish the objectives of the followers (Kanungo, 2001). These kinds of empowering strategies will improve human conduct and ethical objective of the leader as well as his/her followers (Kanungo, 2001). Some transactional leaders have consensus on organizational rules, rights, and responsibilities. This kind of behaviours influences the followers ethically because these are collectivistic transactional behaviours. According to Kanungo (2001), the ethical nature of the leaders behavior is judged based on three factors. They are leader motivation, apparent behaviour, and social context where ethical behaviours are presented. Leaders should improve their motivation, behavioural strategies and techniques, and understand the social situations in the organizations. Hence, these three factors keep the leaders ethically. Leaders have to be show high ethical standards on their behaviours and actions that should be followed by the employees in the organization. Effective organizational governance can be achieved through efficient ethical leadership (Toor and Ofori, 2009). There are also some unethical leaders in which they exploit organizational management loophole to accomplish their desires. However, leaders ethical or unethical behaviors changes according to the organizational changes. However, leaders with highest social responsibility are more ethical to the organization (Toor and Ofori, 2009). Servant, transformational and spiritual leaderships are more ethical to the organizations because these leaders are very honest, fair, helping to their subordinates, behaving ethically, and having more motivation towards work and employees in the organization (Toor and Ofori, 2009). Bass and avolio (Tervino and Brown (2004), 2000) has developed five dimensions of transformational leadership. They are individualized consideration, intellectual stimulation, idealized influence, and inspirational motivation. Idealized influence is a first dimension that contains high moral values. These moral values are transformed to subordinates without any self interest of the transformative leaders. The outcome of this dimension could be employee work satisfaction, high job performance, and organizational commitment. The leader is used to establish collectivistic direction in the followers rather than selfish manner. This will help the followers to increase self efficacy. When this idealized influence is mixed with inspirational motivation then it represents the charismatic leadership. In third dimension, leaders motivate the followers through clear future goals (Baucus, 2005). This is used to establish an attractive and optimistic visualization of the organization in followers perspective. The next dimension is intellectual stimulation. Leaders are used to accept challenges with clear directions. Intellectual stimulation in transformational leadership is effective because leaders creates effective work environment that the followers can able to accept the challenges. Leaders should have listening skills to improve collectivistic performance in the organization otherwise the team get into conflict situation. This conflict situation has occurred due to misunderstanding between leaders and followers. These kinds of situations are avoided with transformational leadership. The last dimension is individualized identification (Baucus, 2005). It is most important dimension that leaders should perform effectively to improve collaborative work environment. This dimension helps leader to identify individual subordinate skills but leaders should have some time to observe these skill set of the followers (Armstrong, 2008). Effectiveness and efficiency of transformati onal leadership is depends on leaders behavior. It is represented in below showed figure. This figure contains three input values to transformational leader in which instrumental and terminal values are ethical values and undesirable values are unethical values (Armstrong, 2008). Transformational leadership produces either ethical or unethical behaviour based on these three input values (Armstrong, 2008). Each and every task of the transformational leaders is represented with above discussed five dimensional transformational leadership models. Ethical leaders are more ethical to their organizations because these leaders are moral persons with honest and trust worthy characteristic. These leaders can do anything for their subordinates. These ethical leaders are used to perform right thing in their professional and usual life. Ethical leaders used to make decision based on organizational ethical values and decision rules. Ethical leaders are more significant social person in the organization because they have very clear objectives and more ethical to their followers. According to Tervino and Brown (2004), ethical leaders are come under the category of transformational leadership style because they are highly motivate and consistent with organizational objectives. Tervino and Brown(2004) has define the relationship between leadership and organizational ethical conduct based on two factors. They are social learning and social exchange. Leaders become role models for their followers if they are ethically embedded with organizat ional ethical conduct. This kind of relationship is represented with social learning because followers are motivated through ethical leaders. Even more, ethical leaders actions are very clear to the organizations as well as his/her subordinates. Eventually, ethical leaders maintained social exchange relationship through leaders ethical values such as trustworthiness, maintaining collaborative workplace, perceived fairness and moral behavior (Grojean et al., 2004). Hence, ethical leaders are used to help their subordinates by differentiating the ethical and unethical conduct of an organization values. According to Tervino and Brown (2004), leaders power and control is important to make effective ethical decisions but it is used to maintain at lower levels. Improvement of Organizational ethics Organization can improve the ethical behaviour through transformational leadership. Triveno and brown (2004) has suggested five dimensional transformational leadership. This model clearly differentiates ethical and unethical behaviours of transformational leaders. Even transformational leaders are highly moral persons and motivated to organizational ethical values. This transformational leaders highly implements collectivistic team work through better communication. Even information flow between ethical leaders and followers are very effective. People and task orientation leadership is also effective in the organization to develop effective ethical leadership because the leaders are more legitimate and open to their subordinates. And even these leadership styles have clear job role and objectives. Ethical leaders should have some certain characteristics which are discussed in above. Organization top management should implement ethical training programs (Athure and Melea, 2006). Organ izational ethical values are integrated with all employees through these training programs (Athure and Melea, 2006). Organization should follow Leader Member Exchange (LME) theory to effectively implement ethical relationship between leaders and subordinates. Conclusion: Leaders have to take initiatives to develop ethical practices in the organizations. Organizational leaders not only create ethical code of conduct but also integrate these ethical standards into subordinates. Leader has to show some examples of ethical leaders to their fellow subordinates that build an ethical organizational context. This study differentiates transformational and transactional leadership by using transformational five dimensional model. Factors that affect leadership behavior have to provide solutions to ethical behaviours.

What Kind of Person Is an Overambitious Parent

What kind of person is an overambitious parent Each and every person on this planet has some goals, ambitions, dreams. We all have this picture in our minds of how our life is supposed to be and we do everything we can to make it real. But a wise man once said that while we're making plans, God is laughing. Not achieving the life you yearn often leads to negative emotions and depression. Some people learn to let go of their dreams and set new targets. Others never quite get over their failure and always seek ways to see their goal accomplished. Often, these people become overambitious parents.I have been a witness of what having an overambitious parent is like. One of my closest friends mother had always been very goal-oriented, but unfortunately fate had other plans for her. As a result, she tried to force her dreams on her two kids. She always pushed them to the limit, expecting them to excel in all areas of life. She rarely left them time (to)relax and have (maybe you can put free time for themselves) time for themselves. She expected only the best from them and when they didn't manage to live up to her high standards, things always ended up with screaming and sobbing from both sides.Her way of â€Å"stimulating† them was to bring them down, telling them some pretty harsh words and constantly nagging. What she failed to grasp was that her kids were different from her, with different view of the world, their own opinion and ambitions. Their deepest yearnings weren't the same as hers. In the end, all she wanted was to see them successful and fulfilled, but she couldn't fully understand what was best for them and chose the wrong approach. What this type of parents fail to see is that they're driving their kids away from home and are, sometimes, the cause of depression. Ambition is good, but there are borders to everything.We are all different, our destinies are different and no one should force us to choose another way in life. After all, we only get one chance in life. I give you and F+ because you said it’s a bad essay and mislead me into thinking that it’s actually going to be bad. Actually it’s a pretty good read and I don’t see any need to correct anything more or less. Vicky What kind of person is an overambitious parent Each and every person on this planet has some goals, ambitions, dreams. We all have this picture in our minds of how our life is supposed to be and we do everything we can to make it real.But a wise man once said that while we're making plans, God is laughing. Not achieving the life you yearn often leads to negative emotions and depression. Some people learn to let go of their dreams and set new targets. Others never quite get over their failure and always seek ways to see their goal accomplished. Often, these people become overambitious parents. I have been a witness of what having an overambitious parent is like. One of my closest friends mother had always been very goal-oriented , but unfortunately fate had other plans for her. As a result, she tried to force her dreams on her two kids.She always pushed them to the limit, expecting them to excel in all areas of life. She rarely left them time to relax and have free time for themselves. She expected only the best from them and when they didn't manage to live up to her high standards, things always ended up with screaming and sobbing from both sides. Her way of â€Å"stimulating† them was to bring them down, telling them some pretty harsh words and constantly nagging. What she failed to grasp was that her kids were different from her, with different view of the world, their own opinion and ambitions.Their deepest yearnings weren't the same as hers. In the end, all she wanted was to see them successful and fulfilled, but she couldn't fully understand what was best for them and chose the wrong approach. What this type of parents fail to see is that they're driving their kids away from home and are, somet imes, the cause of depression. Ambition is good, but there are borders to everything. We are all different, our destinies are different and no one should force us to choose another way in life. After all, we only get one chance in life.

Pyramus and Thisby Essay

In spite of that, Bottom considers his acting to be remarkable, so remarkable that he thinks he can play all the characters of â€Å"Pyramus and Thisby†. â€Å"†¦ I will roar you as gently as any sucking dove; I will roar you an ’twere any nightingale. † Bottom feels that he is fully capable of playing the role of a gentle, charming Thisby, and even that of a monstrously horrifying lion. This characteristic of his is very effective in generating hilarity as he very naively presumes that he alone can handle the production of â€Å"Pyramus and Thisby†. Contrarily, his performance as Pyramus alone is rather alarming. â€Å"Now die, die, die, die, die. † Bottom tries exceedingly hard to convince the audience of Pyramus’ death. The word â€Å"die† is repeated four times, implying how incessantly Bottom tries to assure the onlookers that he is unquestionably dead. This initiates some final mirth on Bottom’s foolishly absurd identity. Bottom’s transformation into a donkey is another very amusing part of the play. What makes this idiosyncrasy all the more entertaining is his nescience about it throughout the play. â€Å"I see their knavery. This to make an ass of me, to fright me, if they could. † Bottom never realises the radical change he has undergone and very potently amplifies the hilarity of the comedy since he leads all his actions normally, never comprehending how abnormal he looks. Also very effective in this dialogue of Bottom’s is the usage of the word â€Å"ass† as a pun. He is completely unaware that at the precise moment that he is uttering the dialogue, an ass is literally what he looks. His declaration of the other workmen making an â€Å"ass† of him is also humorous since his name â€Å"Bottom† already signifies his existence as an ass. Furthermore, is the levity of Bottom’s romance with Titania. Unfamiliar with the fairies, Bottom is far from apprehending why Titania confesses love for him. â€Å"Methinks mistress, you should have little reason for that. And yet, to say the truth, reason and love keep little company together now-a-days. † Bottom’s statement is greatly suited to the moment, not only to describe his situation but also that of the four lovers. Like Lysander’s immortal line, â€Å"The course of true love never did run smooth†, Bottom’s opinion goes well with the obstacles and complications that have developed in the play. Despite that, it does not stop the ridiculousness of his and Titania’s liaison from augmenting the humour of the Elizabethan comedy. â€Å"O how I love thee! How I dote on thee! † Titania’s love for Bottom is entirely unreasonable. Being the queen of the fairies, she has one of the highest ranks in the play, while Bottom being a workman, has the lowest. The fairies also consider themselves to be of a much higher position than mere human beings. In the face of this, Titania loses both mind and body to an ass-headed and ugly Bottom, a low class workman. This efficiently illuminates the impediments that the love juice can bring about and the thoughtlessness that attaches itself to all that encounter it. The central figure of this Elizabethan comedy is Puck, the mischievous sprite. He conducts all the melodrama of the play; all the confusion, all the mischief, begins with him. â€Å"What, a play toward! I’ll be an auditor, An actor too perhaps, if I see cause. † Even before watching any of the drama, Puck has plans to play a part in it. Apart from being Master of Revels to Oberon, Puck forms a schedule of his own; he always satisfies his interests and curiosities. This makes the audience more cognisant of the trickery and complexities going on in the play. Not being related to either the fairies or the lovers, the mechanicals have no reason to be a target of Puck’s pranks. Correspondingly, his involvement in the disruption of their rehearsals proves how he has his independent diversions. The roles and traits of Theseus, Hippolyta and Philostrate are rather similar to those of Oberon, Titania and Puck. In theatrical performances of â€Å"A Midsummer Night’s Dream†, the actors playing the roles of Theseus, Hippolyta and Philostrate often tend to play the roles of Oberon, Titania and Puck, respectively. In relation to this, Philostrate and Puck have analogous characteristics as Master of Revels. At the beginning of the play, Theseus tells Philostrate to spread celebration and joy of the marriage of Theseus and Hippolyta. â€Å"Stir up the Athenian youth to merriments, Awake the pert and nimble spirit of mirth,† Midsummer’s Eve was traditionally a time for celebrating with decoration, greenery and a sense of magic. Philostrate obeys the orders of Theseus as Puck obeys Oberon. Puck enters the play as a reflection of Philostrate, spreading magic and havoc with a mischievous side to all his intentions. Notwithstanding, Puck does make a critical mistake amidst his effervescent pranks. The highlight of the play is Puck’s misunderstanding of Lysander for Demetrius. â€Å"Did you not tell me that I should know the man By the Athenian garments he had on? † Puck makes an easy error with the love juice. Asked to recognise Demetrius by his attire, he mistakes Lysander for him. This is sure to instigate some tension on the audience’s part as they realise that something confusing can happen with the application of the love juice to the wrong person. It also potently marks an Elizabethan comedy because it opens the second phase of the play, where chaos is at its peak. The love juice is the key element of this romantic comedy. Love and friendship turn to hatred in a moment, and vice versa. â€Å"Injurious Hermia, most ungrateful maid, Have you conspired, have you with these contrived, To bait me with this foul derision? † Helena accuses Hermia of deliberately setting up Lysander and Demetrius’ love for her, to mock her and humiliate her. The love juice has unconditionally distorted the relationships amongst the four lovers. The purpose and positions of love and hatred have interchanged. The circumstances change over in a moment and later, go back to normal in the bat of an eye. This efficiently improves the prospect of a dream. The onlookers will themselves be forced to wonder if all that had happened was real, or just an illusion. Despite the fact that love and companionship instantaneously transfigure into repugnance, all the anger and vexation lacks asperity. â€Å"Get you gone, you dwarf, You minimus, of hindering knot-grass made, You bead, you acorn. † The bitterness amongst the lovers tends to be somewhat mild reflecting that past love has suddenly changed into enmity. The insults, although vociferated under strain and anxiety, do not come across as seriously as they are interpreted amongst the lovers. This helps in enriching the humour. The words â€Å"dwarf†, â€Å"bead† and â€Å"acorn† are tiny, pleasant things that have been used as objects of offence. Construed seriously amidst the characters, these insults are catalysts to laughter from the viewers as they hardly initiate any anger or humiliation. When the play’s focus returns to the centre of civilisation in Athens, there is harmony, peace and the order of matrimony for all couples. Marriage itself is one of the chief traits of an Elizabethan comedy. During the Elizabethan era, comedies customarily followed the pattern of order and peace at the beginning, followed by extreme chaos, and ending in harmony with a marriage to mark the return of order. It can hence be concluded that â€Å"A Midsummer Night’s Dream† is a thoroughgoing Elizabethan comedy. Yet, throughout the play, the lovers and their love is made fun of. â€Å"Cupid is a knavish lad,† All the love and its intricacies, the anxiety, loss, sorrow, bereavement and broken hearts are the exquisite ingredients of a first-rate tragedy. Nonetheless, â€Å"A Midsummer Night’s Dream† is intentionally developed as a romantic comedy, with the disruptive elements to mark its midst. The viewers can efficiently see all the arcane aspects of love and devotion, and at the same time, enjoy the humour of romance. The ending of the play is greatly suited to finish off the confusion and misunderstandings of the past. In the epilogue, the actor playing the role of Puck steps out of character to accost the viewers. â€Å"That you have but slumbered here†¦ No more yielding but a dream,† The audience is addressed with an apology for any unsatisfactory or offending presentations. This helps in ending the show on a merry and cordial note. The mention of a dream creates the perfect theme for the epilogue; it relates back to the situations of the four lovers where complexities and discords were passed off as a dream. In my opinion, William Shakespeare has been tremendously successful in portraying this play as Elizabethan comedy. I liked the structure of order at the beginning, followed by despair and disorder and an ending with marriage to restore happiness for all. â€Å"A Midsummer Night’s Dream† is by far the best play of William Shakespeare that I have read. I have loved the storyline and the humour as well the legendary characters.

Political Influence Milton Friedman And The Chicago...

The market trading goods, and services have created a constant hum of activity including governmental agencies and services which governments provide and whether to continue those services to the public have been the focal point of fair trade economics through the perspective of Milton Friedman. Traditionally interconnected with International Policies the policies of Friedman and the Chicago school of thought has had a impacts on the quality of life and access to basic services. Through the policies of ALEC (American Legislative Exchange Council) countries across the world have experienced the backlash of extreme neoliberal policies exploiting the poorest of countries and people for the profit of white wealthy business men often collaborating with members in ALEC. Supporting this argument of extreme neoliberal policies since the 1970’s starting with the signing in of Nixon and later cabinet member Donald Rumsfeld writers such as Michael Foucault explains how such political in fluence can negatively affects not just American lives but everyone one and thing on the earth. Finally concluding the acceptance or allowance of such policies through legislative practices to push extreme radical policies through during the time of Shock through the perspective of Naomi Klein whose remarks of Shocks to economy was directly in response to Milton Friedman’s notion of Shocking economies after reviewing an experiment Stanley Milgram working on with obedience and power control fromShow MoreRelatedPolitical Influence : Milton Friedman And The Chicago School Of Thought Essay1580 Words   |  7 Pagesgovernmental agencies and services which governments provide and whether to continue those services to the public have been the focal point of fair trade economics through the perspective of Milton Friedman. Traditionally interconnected with International Policies the policies of Friedman and the Chicago school of thought have had significant NEGATIVE impacts on the qu ality of life and accessibility to basic services. 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