Exchange Rates Volatility and Risks Essay

There are a number of factors that could change the value of a currency with respect to another. If the inflation rate in a country is low with respect to the inflation rate in other countries, the prices of goods and services in the country with the low inflation rate become attractive for foreigners. However, increases in demand for the goods and services in the country with a low inflation rate are expected to appreciate the value of the country’s currency (Ana, FS 2004). Changes in interest rates tend to have a similar affect on exchange rates. Foreigners would like to invest in countries where the rates of return on investment are high. As the demand for investment in a particular country increases – because it enjoys a high interest rate in comparison with other countries – the value of its currency is expected to appreciate (Ana, FS). The exchange rates at a given time are also dependent on differences between the current account balances of countries. If a country is running a current account deficit, it generally means that the country is importing more than it is exporting, so therefore investments in the country may not be considered lucrative. A country with a current account surplus, on the other hand, is considered attractive for investment. As a matter of fact, the currency of this country is as attractive to foreigners as its products and services. By increasing their demand for the country’s products and services, foreigners are expected to appreciate its currency’s value. As its currency’s value appreciates, however, investing in the country becomes less affordable (Ana, FS). When a country is experiencing a current deficit, its government may decide to borrow money to finance the self same deficit. Inflation may ensue. Moreover, if the lenders believe that there is a default risk, they may decide to sell off the debt on the open market. In the United States, treasury securities may be used for this reason. In any case, the selling of the debt on the open market is expected to exert downward pressure on the foreign exchange rate (Ana, FS). Exchange rates are also affected by the political climate of a country at any given time. Political disturbance in a country may result in a loss of investor confidence in its currency. Conversely, countries that enjoy relatively stable political climates are able to attract investment and experience appreciations in the values of their currencies (Bergen, JA 2007). Undoubtedly, a firm must be able to manage the different kinds of political risks that it may have to face by investing in a particular country. There are three main types of political risks: firm-specific risks, country-specific risks, and global-specific risks. Of the three types of political risks, firm-specific risks include the volatility of exchange rates. These risks are expected to affect the multinational enterprise at the corporate and/or project level (Frenkel, M, Karman, A, & Scholtens, B 2004). For this reason, an exchange rate risk or currency risk – from the perspective of an American investor – is defined as follows: The risk that a business’ operations or an investment’s value will be affected by changes in exchange rates. For example, if money must be converted into a different currency to make a certain investment, changes in the value of the currency relative to the American dollar will affect the total loss or gain on the investment when the money is converted back. This risk usually affects businesses, but it can also affect individual investors who make international investments (Exchange Rate Risk 2007). There are three types of exposure to exchange rate volatility that an investor may have to confront. The firm faces translation exposure when its reported accounting profits must be adjusted as a result of foreign exchange rate fluctuations. Transaction exposure is the result of the firm’s agreement to undertake certain â€Å"foreign exchange transactions during the current period (Bolster, P 2006). † As an example, an importer may sign an agreement to purchase a specific quantity of goods from Country A and pay a certain amount of money to the country in ninety days. Through this agreement the importer is obligated to pay Country A by purchasing the units of Country A’s currency in ninety days. Seeing that the exchange rate may change in ninety days, the importer is exposed to currency risk (Bolster, P). Lastly, investors may have to face economic exposure to exchange rate volatility. This type of exposure to exchange rates volatility results from the need of the firm to conduct business activities in another country in future. Bolster, P describes economic exposure as â€Å"the need for foreign exchange transactions and exposure to exchange rate fluctuations that results from future business activities. † The experience of Toyota in the U. S. utomobile market helps to explain this type of exposure to exchange rate volatility. The company had managed to attain a sizeable market share in the United States. But, when the Japanese yen started to appreciate in relation to the U. S. dollar, the revenues of the company dropped significantly (Bolster, P). The good news is that it is possible for investors to manage the political risks, including the firm-specific risks that they may be exposed to. â€Å"Limiting, diversifying, and hedging† are all viable methods of managing political risks (Frenkel, M, Karman, A, & Scholtens, B p. 20). †

How Many Different Types of Memory System Are There?

Although the belief that memory is composed of several distinct systems is not novel, it is only around the mid 20th century that experimental studies carried out on amnesic patients have started to confirm it (Squire, 2004). This essay will discuss the different types of memory systems that have been found, their distinctions and evidence supporting their existence derived from studies on amnesiacs. Atkinson and Shiffrin’s (1968) multi-store model suggests that memory is a flow of information processed through three stores (Myers, 2010).The first system called sensory memory (SM) processes mainly visual and auditory information from our environment (Myers, 2010). It is made up of several components associated with each sense and filters information experienced by the senses – iconic SM which receives visual information has a very short retention time of merely a half of a second while echoic SM which receives auditory stimuli has a slightly longer retention time of thr ee to four seconds (Sperling, 1960; Myers, 2010). If attention is brought to sensory information, it is transferred to the next system called short term memory (STM) (Atkinson & Shiffrin, 1968).This system processes visual and auditory information received from SM for approximately one minute and also temporarily uses retrieved information from the long-term memory for problem-solving (Myers, 2010). Miller’s (1956) study has shown that STM is not only limited in retention duration but also in capacity having on average a storage capacity of seven bits of information whether verbal or numerical (Myers, 2010). The last system is long term memory (LTM), often referred to as the ‘permanent storage’ (Atkinson & Shiffrin, 1968).As its name suggests, it has unlimited capacity to store a vast amount of information such as motor skills, language, autobiographical and factual information (Baddeley, Eysenck, & Anderson, 2009). The three basic memory stores are distinct from each other in terms of encoded information, capacity and duration of information retention (McLeod, 2007). One of the strongest evidence to support this distinction lies in Murdock’s (1962) experiment – when presented with a list of words, the tendency was that the participants would more likely recall the first words (primacy effect) and the last words (recency effect) than the words in the iddle of the list (Myers, 2010). This is known as the serial position effect whereby the first words are recalled since they have been transferred to LTM and the last words were still accessible in STM (Myers, 2010). However, the middle words were present for too long to be in the STM but not long enough to be encoded in LTM, giving evidence that STM and LTM are two different and separate stores (McLeod, 2008). Research on patients suffering from amnesia also support the multi-store model (Groome, 2006).One classic case is reported by Corkin (1968) about a patient HM who suffered from anterograde amnesia – He was unable to form new memories and lost part of his existing memories (Groome, 2006). However, despite his inability to create new memories, he was still able to have a conversation thus indicating that his STM processes were intact with normal capacity and duration (Wickelgren, 1968 as cited in Groome, 2006). He lost the capacity of only one store hence supporting the idea that STM and LTM are separated (Groome, 2006).Another case is a patient known as KF who suffered damaged to his STM – he was still able to temporarily recall visual information but could not process auditory information which made conversation difficult (Myers, 2010). On the other hand, his LTM processes were retained, again providing evidence that STM and LTM are separated systems (Myers, 2010). Although KF’s case study explicitly provides strong evidence for distinction of STM and LTM, it also questions the idea of having only one STM (Groome, 2006).The damage in KF’s STM seemed to have only affected the echoic and verbal aspects leaving the visual aspects intact (Groome, 2006). This suggests that STM is more complex and has separate stores for visual and auditory processing (Groome, 2006). Based on this finding, Baddeley and Hitch (1974) argued that STM illustrated by the multi-store model is too simplistic (McLeod, 2008). They developed another model of STM known as the Working Memory (WM) which comprised of a two subsystems controlled by the central executive (Groome, 2006).The central executive takes on cognitive processes such as problem-solving while controlling allocation of data to the two subsystems namely Phonological loop (PL) which deals with auditory and speech-based information and visuo-spatial sketchpad (VSS) which, as its name suggests, holds information about visual and spatial information (McLeod, 2008; Groome, 2006). By analyzing in more depth KF’s case study, it is reported that KF had suffered impairme nt of his PL but still had his VSS abilities, hence providing support that STM is not unitary but in fact divided into subsystems (Warrington & Shallice, 1972 as cited in Groome, 2006).Similarly, HM who had an impaired LTM was unable to form new memories but surprisingly could still learn new motor skills although he was not aware that he actually learnt the skills (Groome, 2006). This finding questions the unified nature of LTM and suggests that there are two memory systems (Squire, 2004). McDougall (1924) investigated the term implicit memory which involves unconscious learning and explicit memory which involves learning with consciousness (Graf & Schacter, 1985; Schacter, 1987; Brooks, 2012).Cohen and Squire (1980) suggested that amnesiacs such as HM had an impaired explicit or declarative memory which hindered their abilities to recall previous or make new memories of facts and events (Groome, 2006). They referred implicit memory as procedural memory involved in knowledge of ski lls which would explain why HM could still learn new motor skills (Groome, 2006). According to Tulving, Schacter and Stark (1982), declarative or explicit memory can be further separated into two conscious systems: episodic and semantic memory (Squire, 2004).Episodic memory contains autobiographical contents, is a record of a person’s personal history such as birth dates and deals with past experiences (Tulving 1972; 1993; 2002). In contrast, semantic memory is a storage system of facts, meanings of words and general knowledge of the world such as the capital of cities (Tulving, 1972). Research on memory is arduous and the problems questioned are not easily solved (Tulving, 1985). At the beginning, the answer to the title question would be ‘three’ but when looking into further research based on studies of amnesiacs, the number increased to about approximately ‘seven’.However, being aware of the difficult nature of memory and the limitations of its st udy, the more reasonable and sensible answer would be ‘at least three and probably many more’ (Tulving, 1985). References Atkinson, R. C. , & Shiffrin, R. M. (1968). Human memory: A proposed system and its control processes. In K. W. Spence & J. T. Spense (Eds. ), The psychology of learning and motivation (pp. 13-195). New York, NY: Academic Press. Baddeley, A. D. , Eysenck, M. W. , & Anderson, M. C. (2009). Memory. New York: Psychology Press. Baddeley, A.D. , & Hitch, G. J. (1974). Working memory. In G. A. Bower (Ed. ), Recent advances in learning and motivation (pp. 47-90). New York, NY: Academic Press. Brooks, S. L. (2012). Long-term memory of American Sign Language in a chimpanzee (Pan Troglodytes). Master of Science in Interdisciplinary Studies. San Diego State University. Cohen, N. J. , & Squire, L. R. (1980). Preserved learning and retention of pattern-analyzing skill in amnesia: Dissociation of â€Å"knowing how† and â€Å"knowing that? ‘ Science, 210. Milner, B. , Corkin, S. , & Teuber, H. L. 1968). Further analysis of the hippocampal amnesic syndrome: 14 year follow-up study of H. M.. Neuropsychologia, 6. Graf, P. and Schacter, D. L. (1985). Implicit and explicit memory for new associations in normal and amnesic subjects. Journal of Experimental Psychology: Learning, Memory, and Cognition, 11. Groome, D. (2006). An introduction to cognitive psychology: processes and disorders. 2nd ed. New York: Psychology Press. McDougall, W. (1923). Outline of Psychology. New York: Charles Scribner's Sons. McLeod, S. A. (2007). Short Term Memory. online] Retrieved from: http://www. simplypsychology. org/short-term-memory. html [Accessed: 7 Mar 2013]. McLeod, S. A. (2008). Primacy-Recency. [online] Retrieved from: http://www. simplypsychology. org/primacy-recency. html [Accessed: 7 Mar 2013]. Miller, G. (1956). The magical number seven, plus or minus two: Some limits on our capacity for processing information. Psychological Review, 63. Murd ock, B. B. (1962). The serial position effect of free recall. Journal of Experimental Psychology, 64. Myers, D. (2010). Psychology. 9th ed.New York: Worth Publishers. Schacter, D. L. (1987). Implicit Memory: History and Current Status. Journal of Experimental Psychology: Learning, Memory, and Cognition, 13 (3). Sperling, G. (1960). The information available in brief visual presentations. Psychological Monographs, 74. Squire, L. R. (2004). Memory systems of the brain: A brief history and current perspective. Neurobiology of Learning and Memory, 82. Tulving, E. , Schacter, D. L. , & Stark, H. A. (1982). Priming effects in word-fragment completion are independent of recognition memory.Journal of Experimental Psychology: Learning, Memory, and Cognition, 8. Tulving, E. (1972). Episodic and semantic memory. In E. Tulving & W. Donaldson (Eds. ), Organization of memory (pp. 381-403). New York: Academic Press. Tulving, E. (1985). Memory and consciousness. Canadian Psychology, 26. Tulving, E. (1985). How many memory systems are there? American Psychologist. 40(4). Tulving, E. (1993). What is episodic memory? Current Directions in Psychological Science, 2. Tulving, E. (2002). Episodic memory: From mind to brain. Annual Review of Psychology, 53.

How Steinbeck Presents the Character of Curley’s Wife in of Mice and Men? Essay

In the John Steinbeckà ¢s novel à ¢of Mice and Menà ¢ he introduces us to the character of Curleyà ¢s wife. She could be interpreted as a mis-fitting character in the novel as no one relates to her. Steinbeck relates her to how women were powerless during 1930à ¢s and makes her seem desperately lonely and isolated from the others on the ranch. She has sexual power which she uses to get to the men on the ranch and she just needs someone to talk to. She dislikes her husband and had a desire to become a movie star. She is not seem as an individual and has no name. This shows how a woman belonged to their husband. This essay is going to examine in detail how Curleyà ¢s wife has been presented in this novel. Steinbeck presents her as a negative married woman. She has been presented first through the dialogue of ranch-hand Candy when he describes her to George. His opinion is very sexist towards Curleyà ¢s wife as he says à ¢Curley married†¦a tartà ¢. This shows Steinbeck presents her in a very crude manner. The word à ¢tartà ¢ shows the immediate impression and effect Curleyà ¢s wife has on the other men on the ranch. Steinbeck used this effect because he wants to show the reader the first impression the man have about Curleyà ¢s wife. This affects the reader to pre-judge Curleyà ¢s wife even before she entered. She has been portrayed as dangerous. When Curleyà ¢s wife first appears both George and Lennie notices à ¢Ã¢â‚¬ ¦the rectangle of sunshine in the doorway is cut offà ¢. This suggests that Curleyà ¢s wife is like darkness. She is also dangerous and brings only trouble to ranch hands because when she appears their à ¢sunshineà ¢ is cut off. Light represents hope in this novel. The fact that light/sunshine has been cut off links back to the idea that Curleyà ¢s wife will stand between their dream and future and may take away their happiness and dream just like darkness. Steinbeck presents her as being very flirty and in need for attention. She is described as à ¢she has full rouged lips and wide spaced eyes and heavily made up. Her hair was hung in little rolled clusters, like sausagesà ¢. This part about her hair could be taken as an insult and she has failed to make herself attractive.

Contemporary Issues in Marketing and Management Essay - 3

Contemporary Issues in Marketing and Management - Essay Example Social media marketing involves attracting attention of products or company through social media. The huge competition among companies in the toys and games industry has resulted in the need for advertising in online sites, making sales and gaining feedback from potential customers (Foo, 2013). The emerging theme allows a company to create innovative web content that is catchy to the people visiting their sites such as facebook, linkedn and twitter. The most attractive sites gain website traffic as a result of consumers visiting the page and recommending it to their friends. Some consumers might share the content on their social network sites in the form of links. Thus, the message about a product, brand, event or company is transferred from one consumer to another. The company with the highest website traffic in the toy and game industry will conduct its marketing activities with minimal expenses since users share the content through the internet and attract other consumers (Report, 2014). In the toys and games industry electronic gadgets play a significant role in enhancing the accessibility and installation of the games application. The users may gain information through the internet and try out the games by downloading the application, which results in online sales. Play time is an essential component of a child's development and growth. Thus, toys and games become part of their upbringing. The kids will request their parents for items that they have heard off either through their friends or advertising.

Pretend you are the Education Secretary Arne Duncan. How would you go Essay

Pretend you are the Education Secretary Arne Duncan. How would you go about tweaking the NCLB What innovations would you implem - Essay Example The No Child Left Behind Act (also referred to as NCLB for short) mandated that by 2014, 90% of all schools will be meeting or exceeding state standards. One problem that NCLB does not take into account is that learning is cumulative. Therefore, if any benchmarks are missed in the beginning, it will be harder and harder for children to keep up to the standards when they are already lagging behind in test scores. The ISAT test measures elementary school childrens’ progress, while the PSAE (the Prairie State Achievement Exam) is given to 11th graders. The PSAE is helpful because it is the test that determines what a school’s Adequate Yearly Progress is. If a school fails to make AYP for a certain number of years, the school has to improve or face restructuring—which involves firing all of the staff and starting with a completely new faculty. Also, a culture open to learning is instilled in the new staff members. Schools may not make AYP for several reasons. One rea son might be that transfer students can bring down the general scores of a school. In fact, â€Å"The recent proposal of Senator Joe Lieberman on revamping NCLB school choice provisions suggested providing a safe harbor for one year from AYP calculations for the new out-of-district student transfers.†1 Schools that do not make AYP are generally schools that have a high number of at-risk students—who, for whatever reason—come from underserved and socioeconomically underprivileged populations. In sum, No Child Left Behind needs to be drastically overhauled so that schools that are not making AYP are not penalized, but rather are being given an extension past 2014 in order to improve further. Putting a timetable on when everyone should be at an ideal level of success is setting everyone up for failure—both students and teachers. Even the best teachers in the world cannot rush success. Improving schools go hand in hand with improving student performance at th ese schools that don’t make AYP on a yearly basis. â€Å"According to one survey, sixteen to nineteen year olds in the high-risk category were almost four times as likely to be high school dropouts as those not in the high-risk category.†2 Improving schools in the United States is going to be a time-consuming and rigorous task. In order to improve schools, one of the main foci will be to attempt to raise student test scores by having them take more practice tests, encouraging them to do more independent study outside the class, and encouraging them to complete their assignments in a neat and timely manner. In schools where there are a dense population of at-risk students, it’s important to stress values and social skills as part of the hidden curriculum. That notwithstanding, another integral part of any school is its teaching staff. That having been said, the next issue to be discussed is the quality of the faculty at schools across the country. There are sever al factors which influence a student. â€Å"At the classroom level there are three main variables which accounted for the learning of the pupil: time, opportunity, and the quality of instruction. Time and opportunity†¦influence†¦the pupil’s learning [directly] whereas the quality of instruction [has an impact on] time and opportunity.†3 Obviously, what would help tremendously is if a teacher knows how to properly budget his or her time, and spend a majority of class time implementing a lesson and then having the students work. This is the main idea of what education consists of at the high school and

Environmental Science Essay Example | Topics and Well Written Essays - 3250 words

Environmental Science - Essay Example This essay declares that Environmental science encompasses issues such as climate change, conservation, biodiversity, groundwater and soil contamination, use of natural resources, waste management, sustainable development, air pollution and noise pollution. This essay stresses that despite a greater commitment by the World Government’s to protect public health, forests, and wildlife, policies geared to develop the country's economy have taken precedence in the last 20 years. While industrial development has contributed significantly to economic growth in India, it has done so at a price to the environment. Not only are industrial pollution increasing public health risks, but abatement efforts also are consuming a significant portion of countries gross domestic product. The world environmental situation is likely to be further aggravated by the increasingly rapid, large-scale global extinction of species. It occurred in the 20th century at a rate that was a thousand times higher than the average rate during the preceding 65 million years. This is likely to destabilize various ecosystems including agricultural systems. The variety of life on Earth, its biological diversity is commonly referred to as biodiversity. The number of spec ies of plants, animals, and microorganisms, the enormous diversity of genes in these species, the different ecosystems on the planet, such as deserts, rainforests and coral reefs are all part of a biologically diverse Earth.

What does assimilation mean when it comes to second generation Essay - 1

What does assimilation mean when it comes to second generation immigrants studied in BECOMING NEW YORKERS - Essay Example Though incorporation of immigrants from all over the world has been a great accomplishment of America, especially New York, deliberations on how far these immigrants will be able to assimilate have been continuing over the years. According to the authors, social scientists of the mid-twentieth century felt assimilation to be closely connected to, if not to be the same as, acculturation and upward mobility. Assimilation or â€Å"becoming American† meant giving up one’s home-country ties, and the key concern was, â€Å"to what extent?† Social scientists believed that the ties to the home countries would gradually disappear leaving behind a culture which would be more American and less ethnic. This belief has proved to be true as, over the years, conflicts between American and immigrant identities has almost always led to the disappearance of the ethnic identity. The authors quote Tuan’s definition of assimilation as â€Å"becoming a white American,† and those who could not assimilate remained in some ways always foreign. However, ties to their home countries do not play an active role in the lives of the new generation immigrants. While the immigrants make it a point to teach their offspring their ethnic culture, they do not wish for marriage alliances from their home countries, but rather from among the immigrant Americans. Most of the new generation immigrants, especially the Asians, cannot speak their parents’ language, while those who can cannot read or write their native language. They distinguish themselves from their parents so much so that today there are ABCs (American-Born Chinese) and ARCs (American-Raised Chinese) as well as FOBs (Fresh Off the Boat). American-raised Koreans are referred to as 1.5 generation, while the New York-raised Dominicans are Dominicanyorks, and New-York-raised Puerto Ricans are Nuyor icans. In the second chapter of the book, â€Å"Unravelling the Race-Gender Gap in

Effective Leadership and Management of Starbucks UK Essay

Effective Leadership and Management of Starbucks UK - Essay Example According to chairman of the board, Howard Schultz, "You get more than the finest coffee when you visit a Starbucks-you get great people, first-rate music and a comfortable, upbeat meeting place." This is what the company calls "the Starbucks experience." The impacts of globalisation, the influx of Internet commerce and intense competition in the market have dramatically influenced management in order to sustain the organisation's existence. The primary business objective of a firm has evolved into creating strategic and competitive advantage. Starbucks reinvented the traditional coffee shops and created a global brand because of its corporate strategies and competitive edge. Strategic advantage is the product of synthesizing different learning of managers from sources such as personal insights, people's experiences and market research. Strategy is the plan that the organisation shall pursue in order to achieve the organisation's purpose. Developing a competitive strategy is developing a broad formula for how business operates and how it is going to compete. (Porter, 1980, p. xxvi) It includes the goals the organisation desired and policies needed to carry out those goals. However, the most successful strategies lie in the leader's vision (Mintzberg, 1994, p. 107). It is the role of leadership to give purpose and meaningful direction to the company and to cause organisational effort in order to achieve that purpose (Jacobs & Jacques, 1990, p. 281). Successful leaders understand that strategy is not stagnant but instead it is dynamic and changing. Creating strategic advantage requires a leader's deep understanding of the company's strengths, weaknesses, its competitive strategy, and its current and potential customers. (Porter, 1985, p. 4) Starbucks' mission is to "build customer loyalty around cappuccinos, lattes and other fancy beverages." Starbucks redesigned the coffee industry by shifting its focus from commodity coffee sales to the emotional atmosphere in which customers enjoy their coffee. Howard Schultz made it a point to visit his stores every week and talk with his employees. He spreads his unique gospel of how to run a business. He preaches his vision to as many people as possible in order to engage his employees to the strategies of the company. (Kim & Mauborgne, 2005, p. 74) The management of Starbucks has invested a great deal of resources to know and understand their customers' perspective. The knowledge that they learned is transformed and utilised to provide services, products and communications. These business processes are long lasting and consistent. The management of Starbucks are aware that customers are the company's most valuable asset. They make it a point to consider the pulse of the customers in creating their strategies. Starbucks create competitive advantage through a strategy of differentiation. The company offers coffee and fancy beverages, baked goods, and a unique experience that distinguishes them from other market players. Starbucks is good at making consumers feel special when they arrive at their regular Starbucks store because the barista knows the customer's preferred drink. Starbucks has an edge over their

With reference to relevant academic & practitioner literature, write a Essay

With reference to relevant academic & practitioner literature, write a report on the role of HR in equality & diversity in the work place - Essay Example Therefore, the human resource function is most likely to hold the main responsibility for the individuals planning within an organization as well as policies concerning equality and diversity issues. The HR functions are believed to be the main driver of progressive change regarding equality and diversity issues. Arguably, HR is responsible for fostering and promoting workforce diversity through recruitment and selection processes, training programs and policy development among others. This paper discusses the role of human resource in equality and diversity in the workplace. Diversity plays a significant role in the workplace and it reveals that organizations can greatly benefit from developing and maintaining a more diverse workforce. Diversity in the workplace enables organizations to secure a competitive advantage given that the markets are becoming increasingly global and so it assists organizations to discover opportunities in new customers and products. In addition, it attracts a wider talent pool and assists in understanding the needs of a wider customer base. More so, ensuring that there is equality in the workplace is also a very important as it also helps in determining the success of an organization. It is important to treat individuals equally for an organization to be effective and productive. Therefore, it is very important for equality and diversity to be promoted in an organization so as to have a more diverse and motivated workforce. HR is responsible for ensuring that there is equal opportunity and diversity management in the organizat ion. Equal opportunity is about eliminating any form of discrimination in the workplace, especially during the job recruitment process. On the other hand, diversity management involves cultural transformation of the organization to promote the value workforce diversity. When addressing equality in the workplace, the main focus in on gender, ethnicity, age, and disability among

Based on a business model, write a business plan Assignment

Based on a business model, write a business plan - Assignment Example Sydney has a very active nightlife but most bars located near the Harbour area are expensive and crowded, clients are frequently confronted with unpleasant strangers who have had too much to drink and noisily beeping poker machines. Sinner Party Company would provide their clients with the freedom to choose a private bar service at their own venue, a bar in premises provided by the company, bar supplies, a menu of their preference and even their own guest list, so client has absolutely nothing to worry about except having a good time. The unique offering of the company is that they are licensed to provide sales and service on a mobile basis across Sydney, thus Sinner Party Company can set up a shop at venues that do not hold a liquor license such as the client’s homes. The company would provide bar services for weddings, corporate or private parties. The company is a dedicated project of two enterprising state-licensed individuals who have had more than 10 years of experience in the industry, a team of professionally trained bar tenders, a dedicated creative team. From professional services, wide selection of menu items, themed parties, to exceptional decor and music SPC can customize any soiree to the needs of their client and give them a memorable event. The company requires financial assistance from bank (s) which would be payable over a period of 10 years as the business prospers. Table of Contents Business Plan 1 Sinner Party Company 1 Executive Summary 2 Table of Contents 2 1.Background 4 1.1.Mission Statement 4 1.2.Company History 4 1.3.Business Goals of the Firm 5 2.Marketing 6 2.1.Market Research 6 2.2.Market Analysis 6 2.3.Industry Trends 6 2.4.Seasonal Variations 7 2.5.Competition 8 3.SWOT Analysis 9 4.Marketing Mix 10 5.Operations and Production 12 5.1.Licensing Requirements for a business in Sydney 12 Certificate of Registration of a Club 12 Club Licence (Liquor) 12 Food Standards Code 12 APRA Licence - Recorded Music for Dance Use in Nightc lubs 12 Approval to Connect a Private Drain or Sewer with a Public Drain or Sewer 12 Approval to Dispose of Waste into a Public Sewer 12 Australian Business Number Registration (ABN) 12 Compliance Certificate 12 Employer Requirements - Superannuation Guarantee 12 Fair Work Information Statement 12 Final Fire Safety Certificate 12 National Business Name Registration 12 Notification of a Food Business 12 Occupation Certificate 12 5.2.Obtaining a Liquor license 12 5.3.Organizational Chart 13 5.4.Plant and Equipment 14 6.Financial Forecasting 15 6.1.Forecasting Profitability 15 6.2.Forecasting Assets, Financing Requirements and Cahs Flows 17 6.3.Labour Costs 20 7.Time Line for SPC 21 8.Life Cycle of Business 22 9.References 23 Appendix 25 1. Background Since colonisation the pub has been an integral part of the Australian culture, for both social and economic reasons (Kirkby, 1997). Kirkby (1997, p. 19) further writes that pub keeping had a central role in colonisation because it provid ed a place to stay, eat and socialize to travellers and outlying settlers, and eventually became the centres of towns and an essential part of European identity. Since 1990s there was a gradual liberalisation of pubs and nightclubs in Australia because: firstly the pub hours increased and second there was massive expansion in NSW and Victoria where the regulatory requirement of accompanying food with drinks was abandoned (Blocker et al., 2003). Sydney is the financial hub of Australia; it is the home to most major banks and multinational corporations

Incident Response Essay Example for Free

Incident Response Essay Any network can be subjected to security compromise. There is no amount of coding or access control that can ultimately prevent an attack to a network. However, there is a need for any organization to ensure that their networks are safe and their incidence responses are effective. There are many tactics and tools that are employed by attackers to evade any detection by the investigation or incidence response teams, remain anonymous and to avoid attracting any attention by looking like normal users. If this fails, the attacker has the ability to degrade the system to make investigations more complicated. It is also important to note that the attackers are always technically more advanced than the security staff managing the network security monitoring systems and in some cases may be more sophisticated than the investigators (Mobrien, 2003). There are a many tools that are available to intruders that can be used to penetrate the network security monitoring systems. These tools are available in the internet including vulnerability of different software and how to develop programs that can penetrate networks. Other than being readily available, these tools are becoming increasingly easy to use making it possible for anybody with basic knowledge to be able to attack a computer network. Some of these tools include programs such as remote penetration and local penetration that can control a computer in the network without any authorization, network and vulnerability scanners, password crackers and sniffers (Mobrien, 2003). The attacker employs different tactics to promote anonymity. This is by using all means to separate all possible ties between the computer to which the attack is directed and the computer in which the attack is launched. This can be done by first compromising a system that is then used as a stepping stone, forging the IP address (spoofing) or using a service provider’s netblock. He can also remain anonymous by launching the attack from a trusted host who may be a close business associate or exploiting the vulnerability of the client rather than the server. To frustrate any investigation or incidence response to the attack, the attack may prefer to use public intermediaries such as an IRC channels. Rather than trying to remain anonymous, the attacker may evade detection by providing false leads to the incidence response or investigation team. This can be done by properly timing the attack to ensure that the duration between probes is sufficient to confuse the investigators. Other methods of evading detection include distributing the attack or blocking the web defacer. Moreover, it is important to note that by the attacker appearing normal or a legitimate user of the system is an effective way of frustrating incidence response (Bejtlich, 2004). Although protecting the network from such sophisticated malicious attack is in many instances considered a trivial task, there are some incidence responses considerations that need to be incorporated in the network security monitoring systems. Some of these security measures include an intrusion detection system that detects an intruder in the network and strict security policies in the organization. The staff dealing with the systems must also be well equipped with incident response handling abilities. The staff should be aware of when to inform the police or called emergency incidence response. The staff should also be able know when the network has been broken and the most appropriate measure to take. It is also suggested that administrators or consultants with high level of knowledge and experience in systems vulnerability and management should handle incident responses (Mobrien, 2003).

The Economic Problem and how it Affects Society Essay Example for Free

The Economic Problem and how it Affects Society Essay Define the economic problem. Explain how individual consumers, business firms and the government are all faced with the economic problem. Identify the different economic factors that influence how each group seeks to address this problem. The economic problem occurs because of the fact that the supply of resources used to produce goods and services are limited or finite but there is an infinite amount of demands and wants of individuals. In other words, the economic problem is consequence of limited resources, but unlimited wants. Individuals must decide what is the best item to buy with their limited resources. This is called opportunity cost, which involves the consumer determining which goods and services will provide the most satisfaction and value for money. In market economies, consumers have sovereignty over the market and thus they influence which products are produced and the amount produced. However, many businesses persuasively advertise unwanted or unnecessary goods and services to certain consumers, which can result in a misallocation of resources. In accordance to the economic problem, businesses have a number of issues to address: What to produce? How to produce? How much to produce? To whom to distribute? What to produce Firms must decide which production combination of goods and services will involves the least cost but result in the largest amount of produce How to produce refers to what method of production of the selected goods and services Is the most cost effective and efficient How much to produce involves predicting the amount of goods and services that will be needed and demanded. Using these statistics, the business will attempt to produce a quantity of goods equal to or as close as possible to  that amount. This prediction is usually based on the amount of consumption, demand and profit of the previous year. To whom to distribute the ratio of distribution of goods and services across the country, state or region, according to consumer demands and availability of transport. The government has a regulatory role in the economy through the control of taxes and redistribution of income. For example, when an economy has a low level of economic activity, the government can increase its expenditure on things such as infrastructure, and could lower taxes to encourage consumer and business spending. Similarly, the government could decrease spending and increase taxes to influence saving and less shopping splurges, to reduce the economic activity. The Reserve Bank can also act as a regulator and can dramatically alter the direction of an economy. The Reserve Bank can raise and lower interest rates which influences domestic saving and investment, and also affects foreign investment. For example raising interest rates would encourage foreign countries to buy Australian dollars to capitalise on the interest of their investment. The government has some bearing on the actions of the Reserve Bank, however its influence is quite minor.

Financial Analysis Report Hyatt Finance Essay

Financial Analysis Report Hyatt Finance Essay This report is prepared to analyse the financial statements for Hyatt Hotel Corp. I have analysed three years Balance Sheet and Income Statement for the year 2009 to 2011. An introduction has been provided with the key data of Hyatt, its geographic spread, market, brands, strategy and a brief history is covered. Income Statement Analysis is performed followed by various financial ratios, profitability ratio, solvency ratio, liquidity ration and activity ratios has been calculated and compared for the years 2009 to 2011. A discussion on how well the Hyatt has performed with in the industry has been provided. Its performance is benchmarked with two other industry leaders, Accor Hotels and Marriott Hotels. Some of the issues identified are discussed in conclusion. All the findings are supported with data available from the financial statements. Balance sheet analysis is done and various ratios have been discussed in details. Hyatts performance is evaluated for the year 2009, 2010 and 2011. At the end a conclusion is made followed by some recommendations to buy, sell or hold on the investment is provided. HYATT was established in 1957 by Mr. Jay Pritzker, after acquiring Hyatt House Motel located near Los Angeles International Airport. Hyatt became a public company sector company in 1962 as both Pritzker brothers Jay Donald expanded the family business into North American Management Hotel ownership country. Hyatt became the global hospitality leader after its Launching of innovatively designed Hyatt Regency Atlanta in 1967. Hyatt is now named as Hyatt Hotels Corporation after Hyatt International Hyatt Corporation was conjoined in to one company and operating for Pritzker Familys interest (Hyatt 2013). Hyatt believes in expansion, innovativeness diversification this represented by its 9 competitive brands owning 500 properties which are globally spread around the world into 46 countries. (Hyatt 2013). Each brand is designed uniquely to offer a distinguished experience of Food Beverages, ambience and services to the guests. It is their attitude and personalized touch that makes the stay memorable. Park Hyatt which is known for its luxury sophistication has a spread of 30 hotels in major gateway cities of America, Europe, Africa Middle East, and Southwest Asia Asia Pacific. ANDAZ as the name suggests has a unique design and at the same time has insights of local neighbourhood. The company has 9 hotels under this brand. Grand Hyatt has huge infrastructure and spectacular design, with innovative concepts of food and beverage. It is preferred brand for grand weddings, convections and meetings. Hyatt brand has 28 properties. Hyatt Regency is aimed for business travellers convention travellers, equipped with most of modern technologies and guest friendly atmosphere. Hyatt Place is ranked no. 1 select service brand by Business Travel News 2012 Survey, it has a wide range of 172 properties in United States and Costa Rica. Hyatt House was formerly known as Summerfield Suites and is designed in residential size to make the guest feel at home as it offers extended stay in all their 54 properties. Hyatt Resorts are all located at the vacation destinations thus they are well known as beach resort, mountain resort, dessert Resort etc. they are most conveniently constructed with all the leisure around to make the tour relaxing and adventurous. Hyatt Vacation Clubs are time share properties which offers ownership to the members to enjoy access to any Hyatt Vacation club in addition to their home destination, Hyatt entered into vacation ownership in 1994(Hyatt 2013). Hyatt has partnership with 19 diversified non profit organisations and contributes them in their various activities; this is a part of their social responsibility. Hyatt has identified specific market segments and their competitors in order to make their services the best and customer friendly, like introducing Web Check in for any Hyatt properties, various spas and leisure activities at tourists and business properties, has identified requirements of amenities by guest feedback and introduced it. The company understands that customer satisfaction is totally dependent on employee satisfaction in a service industry and their asset is their work force, therefore Global Hyatt was awarded as 2011 Best place to work. Hyatt has also been awarded as Best Elite program in Asia-2012 for boosting their guests loyalty through Gold, Diamond and Platinum memberships. This strategically planned program offers complimentary stays and services; this ensures higher frequency of their guests. One of i ts major introductions of competitive strategy is ANDAZ which is an eco friendly brand and an intelligent innovativeness to decrease the carbon footprints. Hyatt accomplishes it mission and goals by Diversity and Inclusive Framework for building and focusing on their work place, work force and market place (Hyatt 2013).Hyatt has 60 individual spas with the original concept of healing with water and it introduced its spa in 1972, in Indonesia. This is a strategy of diversification and expansion. Hyatt plans to introduce an Eco Track web based tool for monitoring Hyatts environmental impact by gathering monthly data of their environmental goals, it aims to start full fledge by 2015. This would include reduce energy consumption, water consumption, green house emission and waste sent to the landfills in comparison to 2006 levels. Hyatt Union Square in Manhattan along with restaurants of One Five hospitality group is in pipeline for April 2013, besides that Andaz Tokyo, first Andaz Hotel in Japan is to open in 2014. Park Hyatt Mallorca is the first Hyatt hotel in Mallorca, an island in Mediterranean for which Hyatt has entered into an agreement with Spanish real estate company. Moreover Hyatt plans for expansion and growth in the competitive hospitality industry by diversification and innovativeness (Hyatt 2013). Income Statement Analysis How has the group performed? In last three years of Hyatts performance (year 2009 to 2011) review I can state that its sales has been increased each year, the increase is not constant but each year has shown overall increase from the previous year as shown in Appendix-I Profit Loss Statement of Hyatt. The % movement (sales) of year 2009, 2010 and 2011 is 6, 5 and 11 respectively. From the last three years of review, it can be said that the performance indicators are showing a positive upward trend for the company (Hyatt 2013). The percentage movement of rooms in the year 2009 was not very promising for the company but the positive trend of sales improved the room % movement for the year 2010 and 2011 as 4.1 and 8.5 respectively. The average occupancy data supports the increase in sales for years 2009-2011. For the said period average occupancy is 65.7, 70.9 and 72.5. (Hyatt 2013) REVPAR defined as revenue per available room has shown an upward increase from year 2009 to 2011 ($103 to $122) refer to the values in Appendix-I Profit Loss Statement of Hyatt. The companys revenue has been on steady increase as per REVPAR. The average room rate (ARR) often known as average daily rate (ADR) has been on increase in the last three of review. The ADR or ARR for the said years are $157, $163 and $169 for the year 2009, 2011 and 2011 respectively. The % movement increase for the years 2009 to 2011 is 4% to 7.6%. The company has seen a growth of REVPAR despite some of its properties were under renovations during the period 2009-2010 as mentioned in the annual report of the company. From its North American Management and Franchising, the companys revenue has increased due to the increase in franchisee and other fees increased due to improved profitability across the portfolio. Hotel industry/companies are evaluated in terms their ability to generate profits on sales, known as profit margin. Poor pricing and sales volume can bring down the profit margin. The gross profit for the last three years of the company has increased from $579 to $741 thereby increasing the gross margin % from 17.4% to 20%. This shows that the company has been performing well and its management has control over its expenses. The net profit has fell sharply in the year 2009 which is -$43. This sharp fall was due to the high operating expenses and low operating income, added to it was low equity earnings and high interest expenses. Net profit shows a rapid upward trend in the year 2010 and 2011 i.e. $66 and $113. This was due to the high operating income at hand and low interest expenses. This indicates that the company has recovered from losses and looks more promising in the year 2010-11. The net profit margin of the company has increased from negative to positive value showing profitable growth earnings for the company. The net profit margin for the last three years is -1.29%, 1.87% and 3.06%. Benchmarking of the Company (Hyatt): The benchmarking of the company is performed with two of industry leaders named Accor Hotels and Marriott Hotels. Various financial ratios are compared for the years 2009, 2010 and 2011. Profitability comparison of two industries: ROA: Hyatt has shown a better return on assets or in other words a better profitability of hospitality industry (-0.65) as compared to Accor (-2.3) and Marriott (-5.3). The performance of Hyatts has been steady and its profitability has increased in three years term to 1.53%. In the year 2011, Hyatt is under performing as compared to Marriott but better than Accor which has ROA of 0.60% as shown in following graph: Fig 1 In the year 2010, Accor has a very high ROA followed by a sharp fall in year 2011, which indicates that very high fluctuations of ROA possess a higher risk of instability of the company. ROE: Another key ratio is return on equity which compares the net income of the companies with owners investment. Hyatts ROE has shown a gradual increase for the last three years. Compared to Accor and Marriott in the years 2009, it was the best investment company in hospitality. In 2010, Hyatt has shown a gradual increase of 1% on ROE as compared to Accor and Marriott which has shown a very sharp rise of 100% and 29% respectively. A company with a higher ROE is a better investment than one with a lower ROE since it has a stronger ability to generate cash flows internally; however, this is not completely accurate. Looking at the Accor and Marriott for the year 2010, they show a high ROE values, but the following year they have shown a greater investment risk as compared to Hyatt, the graph below represent the same. Fig 2 EBIT: Lower EBIT ratio means the company is less capable of meeting its liabilities. If the ratio is 1.5 or less, then it is considered a high risk and its ability to meet its interest expenses may be questionable. As compared in 2009, Hyatt is not performing well as compared with Marriott whose EBIT is 3% as compared to Hyatts -0.09; however, in 2011 the situation is upside down. Hyatt is performing well as compared to Marriott. The EBIT of Hyatt is -2.49% whereas Marriott stands on -12%, refer to the graph below: Fig 3 After analysing various financial ratios between three groups of hotels, I have analysed that, Hyatt has performed better and shown constant improvement in recent three years, whereas Accor and Marriotts have shown huge up and downs throughout, which describes these groups have less stability. Balance Sheet Analysis The total assets of Hyatt have shown an upward movement for the year 2009 to 2011 from $7,155 to $7,507 or in other words, the percentage movement of total assets has a sudden rise from 1% to 5% for the year 2009-2011. This is due the fact that the total non-current assets have increased from $5,146 to $5,916 even though the current assets have decreased from $2,009 to $1,591 for the said period. Looking at the current assets trend the financial perform has taken the downward trend from year 2009 to 2011. This downward trend of current assets has raised the questions about how quickly the company can meet its liabilities if the need arises? Combined with the non-current assets of the company the overall movement is upward. The reason for the increase in total assets is the year 2011 is due to the high increase in property equipment assets; refer to the Appendix-I Balance sheet of Hyatt. (Hyaat 2013) Current ratio of the company shows its liquidity power, in other words, liquidity ratio analyse the company ability to carry out its short term obligations. For companys liquidity ratio for the year 2009, 2010 and 2011 are 4.06, 3.63 and 2.8 respectively. High current ratio in the year 2009 and 2010 indicates a high risk as management was not investing the companys assets productively to grow the revenue in 2009-10. This also means that the company has too many idle assets not being invested. Total current liabilities has increased from year 2009 to 2011 from $495 to $568, this is mainly due to the Accrued expenses increase for the year 2011 from $188 to $306. The total current liabilities movement has taken a sharp dip from 20% to -5% and then rise to 15% for the year 2009, 2010 and 2011 respectively. This also led to the net assets for the company decreased from $5040 to $4828 from year 2009 to 2011. The inventory turnover rate of the company has risen from 25.1 in 2009 to 42.5 in 2011. This growth was appreciated by the shareholders because it implies that company has become more capable of efficiently turning its inventory into sales in these three years. Companys earnings before interest and taxes (EBIT) increased quickly in the last three years (from $5 to $142), which finally resulted in a big increase of profit margin in 2010. Return on assets measures how much profit a company can squeeze out of its assets. A higher return is preferred. The situation of the company is much better in the later years as compared to the starting years of analyses. Its return on assets ratio has increased year by year in the last three years. The ROA % has increased from -0.6% to 1.5%. Return on equity ratios are used to interpret a companys ability to generate earnings from its investments. (Andrew, Damitio, Schmidgall 2007). ROE% for the company has shown a steady increase from -1% in 2009 to 2% in 2011, the profit margin% increased to 3.06% from -1.29% (because companys net income had become positive) respectively(Hyatt 2013) Debt ratio measures how much debt a company has in its total assets. A lower debt ratio can be interpreted as the company being capable of carrying its liabilities since there are enough assets (Andrew, Damitio, Schmidgall 2007). Companys debt ratio increased from 42% to 55% thereby meaning that the companys ability to satisfy its liabilities has decreased. The financial leverage of the company is the ratio of its total liabilities and total assets. The lower the ratio is, the better the company is performing and has a lower risk of failing down or becoming bankrupt. The leverage ratio for the company has shown a decline from -29.6% to -35.7% from year 2009 to 2011 which shows a lower financial risk for the company. Interest coverage ratio determines companies ability to pays interest on outstanding debts, here company has shown constant downfall in interest cover from -0.09, -2.91 and -2.49 for year 2009-11 respectively. Here companies ability to meet interest expenses are questionable, company is in burden by debt expenses (Andrew, Damitio, Schmidgall 2007). Conclusion The Hyatt has shown an increase in its performance and reviewing its last three years of Income Statement and Balance Sheet it is evident that this group is doing better than its other two competitors in hospitality sector; however, there are some issues with its investment policies. Its management did not invest its assets efficiently which led to a higher current ratio in the year 2009-10 exposing the company as high risk to meet its liabilities. This behavior is also supported by return on assets ratio. In the later year, the company has shown a decline of leverage ratio, putting the company into better financial shape and making low risk company in its sector. To sum up, there was a significant increase in companys financial statement in 2011. Compared to 2009, its revenue and net income increased sharply, while its total assets grew by $7507 million dollars. The equity of company decreased to $4828 million, while there was an increase of the total liability to $2679 million. According to the previous analysis of Hyatt Hotel Corporations financial performance from 2009 to 2011, it is clear that company has experienced a sharp increase of its revenue and net income in 2011. One of the main reasons is that the occupancy rate and room rate increased. Overall, trends are looking decent and I would recommend buying the investments in the company.

The Abortion Controversy Essay -- essays research papers

The controversy within the biomedical ethics topic, abortion, has two main proponents. The first is the view against abortion, also known as pro-life. The other view is rooted upon the belief of being pro-choice, or basically for abortions. These two different views are like two mathematical principles, in that although these two views have many differences, they also have larger similarities in the background. For example, when pro-choice activists support abortions due to unwanted pregnancies, the activists are not rallying behind the idea of sexual incompetency (pregnancies due to lack of birth control). Rather, they are supporting the idea that women have the right to choose what to do with their own bodies. In order to understand these opposing views, justifications and condemnations, on abortion, it can basically be divided into three categories. These categories are based upon the reasons for which abortions are carried out, and include congenital defects, rape, and economics . Congenital defects, is when deformities within the baby are detected during an early stage of a pregnancy. These defects, such as Down’s syndrome, are detected through an amniocentesis test. The second justification for abortion is from criminal cases, such as rape. A final reason for an abortion is due to economics, the financial condition, of a family. Economics can also include cases such as teen pregnancies. The anti-abortionists have numerous reasons for their beliefs, and many of them are attached to their religion ideals. Religious ideals, range from having an abortion before 120 days after the pregnancy, as in Islam, to considering it a sin to have an abortion, as in Christianity. However, the anti-abortionists’ reasons also come from the belief that a human being is born after conception, and that the death of that embryo or fetus resembles the murder of an innocent human being. They believe that no one has the power to take command of another’s life, mainly an infant, which is dependent on others for survival during the initial stages of life. In addition, to the fact that abortions kill innocent human beings, anti-abortionists believe that they also damage the mental, as well as physical condition of the mother. Since, after an abortion a mother is more susceptible to breast cancer, and to periods of depression. In the case of congenital defects, the pro-life activis ... ...cal analysis of abortions. In the eyes of Economics, abortion can also have a negative effect, or an opportunity cost. For example, is the mother of Einstein or Darwin had an abortion, then the opportunity cost would be the loss of knowledge they discovered. Likewise, the opportunity cost of an unborn child due to abortion, whom could have had a significant effect on human race, can be devastating. Work Sited Anderson, D. E. Newsroom Guide to Abortion and Family Planning. Second Edition. Washington, D. C.: Dickinson Publishing, 1996. Harrison, Maureen, and Steve Gilbert. Abortion Decisions of the United States Supreme Court: The 1990’s. Beverly Hills: Excellent Books, 1993. Joffe, C. Doctors of Conscience: The Struggle to Provide Abortion Before and After Roe v. Wade. Boston, MA: Beacon Press, 1996. Melville, Keith. The Battle Over Abortion. Dubuque: Kendall/Hunt Publishing Co., 1990. Whitney, Catherine. Whose Life?. New York: William Morrow and Company Inc., 1991. Internet Source. http://www.cbctrust.com/medproc.html Internet Source. http://www.prolifeinfo.org/statestats.html Internet Source. http://www.prolifeinfo.org/up16.htm Internet Source. http://www.tidalweb.com/life/go.htm

Shadowing :: essays research papers

shadowing experience at Doherty, Duggan and Rousse Insurers was on Wednesday March 20, 2005. At the beginning of the experience there was eight o’clock devotion about the different kinds of â€Å"wants†, we as human beings in a society of wants not needs. I met an array of assistants, accountants and different sales representatives. I met Charlotte Easterling the â€Å"central hub†, the administrative assistant of the entire firm. Regina King, the accounting manager she works on the payroll, which she outsources, pays bills and payables. Laura Coutu, the accounting and system administrator she books for computers the firm uses and she is the day to day computer tech and support. I met Melinda Duggan a sales associate with commercial selling. She oversees the account of Southern Ad trucking company, At nine fifteen there was a sales meeting, sales associates meet to discuss sales calls and sales revenue. Associates talk about different venues to sell to, states commission and also talk about different companies and corporation they sell to or try to sell to. Each sales associate spends about three to four minutes each discussing sales about previous week, commissions ranging from $40.00 to $8000.00. At twelve fifteen the firm have their quarterly meeting called WE Incorporated, the meeting starts out with birthdays and work anniversaries. The accounting manager states TARGETS for each individual department. The different departments state commissions and other new accounts. The different departments vary as such: Commercial Lines, Personal Lines, Claims, Accountant, Administrative, Procedures, Rewards and Recognition and Events. They have a Profile section which sales executives talk about biggest sales of a particular departments and the firms accolades, this week was Fred Taylor Trucking Company, Southern AD carriers who have been with the firm since they had 5 trucks and 17 trailers, they now have 327 trucks and 239 trailers, lastly the firm mentioned Water, Gas and Light Commission which is their largest account.

Benvolio vs. Mercutio in Shakespeares Romeo and Juliet :: William Shakespeare

It was a hot summer day in the town square of Verona when the two households came face to face, both feeling and showing their emnity. In the play of Romeo and Juliet, written by Shakespeare, Tybalt wishes to fight Romeo and since Romeo is refusing to battle him, Mercutio steps up and takes Romeo's place. Benvolio is, like always, begging and pleading for them to keep the peace. All through the tale, Romeo's best friends, Benvolio and Mercutio, try to help Romeo with their own particular methods. Surprisingly, there are no characters that differ from each other more than Benvolio and Mercutio. Although Benvolio and Mercutio are alike because they are both very loyal to Romeo, they are different because Benvolio is calm, level-headed, and honest and Mercutio tends to be a sarcastic, wild person who follows his emotions more than his common sense. Mercutio and Benvolio express loyalty and companionship toward Romeo. Mercutio battles Tybalt in order to defend Romeo's honor, when Romeo has already made it clear that he doesn't want anyone to fight. Mercutio bravely faces the furious Tybalt and says "O calm, dishonorable, vile submission! Tybalt you rat-catcher will you walk?" (Scene Five). Benvolio also shows he is faithful to Romeo when he devises the brilliant plan of crashing the Capulet's ball, in an attempt to cure his friend Romeo's depression. When he says "... Supper is done, and we shall come too late." (Scene Two), he's convincing Romeo to go to the ball to have some fun or else it'll be too late and he'll stay heart broken. Mercutio and Benvolio are different because Mercutio is a wild person that likes to pick fights even though they aren't "his" battles. When Tybalt is looking for Romeo, Mercutio steps up and declares "... Here is my fiddlestick, here's that shall make you dance." (Scene Five), thus making Tybalt even angrier and causing a fight. You can see Benvolio is a peace-keeping person especially when he states "I do but keep the peace: put up thy sword..." (Scene One). He says this mainly because he doesn't want anyone to get hurt or get in trouble with the law. Although Mercutio and Benvolio are really close to being antithesis of one another, they are also similar because they are both incredibly loyal and faithful to Romeo. Though they are an oddly matched pair, they somehow combine to add their own unique flavors to Romeo and Juliet.

Is Doubt the Key to Knowledge Essay

As a student currently taking the International Baccalaureate, I constantly question the differences between the several areas of knowledge which I study. In a period where technology shows constant developments which trigger new discoveries and establish new facts, a critical outlook is essential in order to assess the validity and limitations of knowledge claims that arise within these fields. The twenty-first century has been called the age of information, where individuals have the ability to communicate freely and where knowledge becomes increasingly accessible. This seems to create an environment where knowledge prospers freely, and where doubt is gradually becoming extinct. However, many still argue that this new age of information bombardment creates a false sensation of certainty, and a series of unsupported convictions. Almost all areas of knowledge have a particular way of achieving values of truth, when that is possible whatsoever. This is directly linked to the ways of knowing in Theory of Knowledge, (emotion, perception, language and reason) as well as through the methods each field uses in its attempts to explain something, or to reach truth. Furthermore, it is important to recognize the several â€Å"paradigm shifts†, as in the term first coined by Thomas Kuhn[1], that change the perception and methods through which we acquire and interpret knowledge, as well as our definition of truth. Scientific certainty derives from countless experimentations and observations, and many debate whether scientific truth can ever be reached. History, on the other hand, is rigorously based on personal experience and interpretation of individual accounts, which allows for partiality and bias. This essay aims to evaluate and distinguish these two areas of knowledge, as well as determine the possible legitimacy and certainty that can be obtained from the knowledge claims produced in each field. Historical analysis is one the most controversial areas of knowledge, possibly due its extremely ambiguous and uncertain nature. Historians may disagree over the causes and consequences of nearly any historical event. It is important to remember that history is based on paradigms. As a result, it s almost impossible to find a particular period in history which has not been marked by disputes between historians, attempting to determine what actually happened. Thomas Carlyle, a 19th century historian and teacher at the University of Edinburgh, once stated that â€Å"The history of the world is but the biography of great men†, an allusion to The Great Man Theory, one of the many paradigms that have bent the shape of historical analysis. If we take the Second World War as an example, it seems as if the historical context of the war is seen through the actions of men such as Adolph Hitler, Joseph Stalin, Benito Mussolini and Winston Churchill. Another paradigm that can be observed in historical thought is the â€Å"Rise and Fall† concept, which tends to evaluate the history of empires and historical powers in terms of two phases: the ascent and decline. Examples of this paradigm can be found in many titles of history books: â€Å"The Rise and Fall of the Holy Roman Empire[2]†, â€Å"The Growth and Decline of the French Monarchy[3]†, â€Å"The Rise and Fall of the Third Reich[4]†, amongst others. Furthermore, as we analyze the history of the Second World War, we also find correlations with another historical paradigm, best exemplified by the famous proverb: â€Å"History is written by the victor†. The argument proposed is quite clear; those who triumph at War and reach power will inevitably influence and determine the course of history. In order to better illustrate this claim, two extracts follow, concerning the Nazi invasion of the Soviet Union in June 1941; the first, a broadcast by Winston Churchill to the British people, and finally a speech given by Adolph Hitler in Berlin, proclaiming the invasion of the USSR: â€Å"At 4 o’clock this morning Hitler attacked and invaded Russia. (†¦) A non-aggression treaty had been solemnly signed and was in force between the two countries. †¦) Then, suddenly, without declaration of war, German bombs rained down from the sky upon the Russian cities. (†¦) Hitler is a monster of wickedness†¦Ã¢â‚¬ [5] Winston Churchill, London, June 22 1941 â€Å"National Socialists! (†¦)The German people have never had hostile feelings toward the peoples of Russia (†¦ ) Germany has never attempted to spread its Natio nal Socialist worldview to Russia. Rather, the Jewish-Bolshevist rulers in Moscow have constantly attempted to subject us and the other European peoples to their rule. (†¦) which were particularly severe for Germans living in the affected nations. †¦) The purpose of this front is no longer the protection of the individual nations, but rather the safety of Europe, and therefore the salvation of everyone. May God help us in this battle. † Adolph Hitler, Berlin, June 25 1941[6] Analyzing both speeches, the difficulties of validating a historical account become quite evident, since there are always several perspectives concerning a specific historical event. As it relates to the ways of knowing, history is extremely dependent on perception and language, making it particularly hard for historians in hindsight to corroborate one account over the other and recognise its legitimacy. However, offering a personal perspective, I would most likely tend to support Churchill’s account of the 1941 Nazi occupation of the USSR. Yet, after exposing the uncertainties and ambiguity of historical knowledge, I begin to question whether or not my perception would differ, had Hitler and the Axis’ forces won the war. Unfortunately, it seems that would most likely be the case. Science is widely regarded as one of the most reliable fields of inquiry. When considering its potential for accurate and impartial conclusions, my initial response was to consider the scientific method the ideal, archetypal model of discovery. History seems simply too inseparable from human emotion and interpretation to produce a constantly indisputable account of facts, while science appears to be the most reliable and precise area of knowledge, solely based on rationality, empirical evidence and observable patterns. The scientific method, starting with a predicted hypothesis, followed by an experiment, collection and interpretation of data, which ultimately leads to a conclusion which could be repeated by any other scientist, gives the impression of being the perfect â€Å"truth formula†. On the other hand, when looking at the progress of science over time, it is important to realize that, together with the other areas of knowledge, real certainty can never be achieved in science. Even when scientific models survive repeated testing which fail to disprove them, they cannot be universally accepted as truths, but only provisional truths that are simply given functional certainty. The Caloric Theory[7], introduced by Lavoisier, was once a commonly accepted theory that was discredited in the 19th century by the mechanical theory of heat introduced by Carnot[8], which later on evolved into the science of thermodynamics. This supports the claim that scientific â€Å"truths† only exist on their specific â€Å"scope of applicability†[9]: â€Å"Science progresses through trial and error, mostly error. Every new theory or law must be skeptically and rigorously tested before acceptance. Most fail, and are swept under the rug, even before publication. Others, like the luminiferous ether[10], flourish for a while, then their inadequacies accumulate till they are intolerable, and they are quietly abandoned when something better comes along. Such mistakes will be found out. There’s always someone who will delight in exposing them.  Science progresses by making mistakes, correcting the mistakes, then moving on to other matters. If we stopped making mistakes, scientific progress would stop. † [11] In conclusion, it seems that uncertainty will always be an indissoluble part of every area of knowledge. We can also conclude that historical and scientific knowledge have an incredibly different way of explaining and interpreting things, mostly due to the ways of knowing, or according to which filter each area of knowledge attempts to express their ideas, and draw conclusions. While many may argue that the main purpose of these areas of knowledge is to explain and generate answers, some would say that their aim is inquiry, and their purpose is to generate questions. If we analyze these fields in hindsight, it is hard to dispute the claim that what we now consider hard facts are simply theories waiting to be discredited by the progress of our existence. Although at first I found myself to be disappointed with my findings, I stand corrected. The pursuit of knowledge, the quest for truth, is a never ending cycle of discoveries, and most importantly rediscoveries. Once we are certain of anything, we kill this cycle, we close the book, and the entire process loses significance and context. In the human drive for knowledge and higher awareness, as in the questions that generate the angst and sorrow of human consciousness, there can never be an unquestionable truth, an indisputable answer, for certainty is an illusion.

The Swimmer by John Cheever

Mina Hanna ENGL 2130-010 Ms. Kilgore The Swimmer by John Cheever Oct 06, 2011 The Swimmer by John Cheever Neddy’s journey home through the pools of his neighborhood turns into a journey through many years of his life, showing that passage of time is inevitable, no matter how much one might ignore it. Neddy has mastered the art of denial. At the beginning of the story, the narrator tells us that Neddy is far from young, but he does his best to act young by sliding down a banister and dividing headlong into a pool. The long afternoon at the Westerhazy’s pool seems timeless, no different, we can assume, from many thers afternoons spent exactly the same way. As Neddy’s journey progresses, we see that time is actually passing much more quickly than Neddy realizes. Leaves and hedges turn yellow and red, the constellations in the sky change, and the air gets colder. Friends not at home when he expects them to be, he faces scorn from the people he would once scorned, his mistress wants nothing to do with him, and he learns that a friend has been very ill. All these changes have happened without Neddy’s knowledge. Neddy question his memory, but he also onders whether he has simply denied reality to a dangerous degree. His peers have acted their age and faced adult problems, whereas he has raised. Morshed 2 The pervasive consumption of alcohol throughout the story sharpens the distortion of time and Neddy’s sense of unhappiness. The drinking, serving, and desire for alcohol become significant motivators for Neddy as well as a way to measure his social standing. At the beginning of the story, everyone is complaining of having drunk too much the night before, but they have gathered companionably at the Westerhazys’ pool o drink again. Neddy drinks gin before he decides to swim from pool to pool, and his swim home is marked as much by fresh drinks as by new swimming pool. At the Bunkers’ party, Neddy feels comforted and happy when he is given a drink, whereas at the Biswangers’ party, he feels slighted by the way his drink is served. As his journey grows more difficult, Neddy wishes deeply for a drink but is often turned down, once at the Sachses’ and once at Shirley Adam’s. His desire for a drink grows strongly as he grows weaker, and the amount of alcohol he has consumed during is journey could explain clearly the harsh bewildering emotional place in which Neddy finds himself at the end of the story. Morshed 3 The pools that Neddy swims through as he makes his way home represent periods of time that Neddy passes through. At the beginning of the story, Neddy is strong and active, feels deep contentment with his life, and is admired by his friends. Warm is the sun, he feels like a legendary figure, as though there is nothing he can’t accomplish. As he progresses from pool to pool, however, Neddy changes. Physically, he grows eaker, unable to pull himself out of pool without a ladder and unwilling to drive in as he once did. Instead of being warm, he eventually feels chilled to the bone. Around him, the sunny summer day grows increasingly cooler, and a storm passes. The trees, meanwhile, lose their leaves, and the constellations change to those of autumn. His standing in his social circle has changed as well. Once respected and given to snubbing those who are not part of his group, he is now snubbed by Grace Biswanger and the bartender at the party, Which Neddy is not aware that he has suffered. A lot has happened as he has been moving from pool to pool. Neddy has named the chain of pools the â€Å"Lucinda River†, invoking the security and longevity of his marriage and family, but his choice of name becomes sad and ironic when he winds up at his dark, deserted home. Neddy has taken Lucinda, just as he took his comfortable life, for granted. We don’t know much about their marriage, but we know of Neddy’s affair with Shirley, an affair he treated lightly and to which he attached no meaning. Morshed 4 The changes in weather and season that occur throughout the story mirror Neddy’s hanging life circumstances, particularly the deterioration of his comfort and security. At the beginning of the story, Neddy is warm in the sunshine, conscious of nothing but his own happiness and the pleasures of the day. As he begins his swim, the water and air are of comfortable temperature, and he can walk easily from pool to pool in his swim trunks. Shortly into his jo urney, a storm passes, making a turning point in Neddy’s plans. He is alone for the first time, waiting out the storm in a deserted gazebo; and when the storm ends, the warmth is gone. He is chilly, and the red and yellow leaves n the ground suggest falls. Neddy feels a peculiar sadness, the first time he feels anything other than happiness. Weather and season are not kind to Neddy from this moment on. He gets colder, sees more signs of fall, and changes from a robust traveler into a pathetic figure by the highway. Autumn arrives in full as Neddy finishes his journey, and the final pool he swims in has freezing cold water. Just as Neddy’s happy life has come to a close, the cycle of seasons has been completed as well, and it is clear by the end of the story that Neddy’s is entering the winter of his life.

Melting pot vs salad bowl Essay

Have you ever heard that America is a melting pot or a salad bowl? The metaphor for the melting pot is unfortunate and misleading for America. A more accurate metaphor would be a salad bowl, for the salad bowl can be very different from the melting pot because of all its ingredients can make it distinguished from the melting pot. Even today Americans are calling America a salad bowl instead of a melting pot. Whereas it once was a melting pot but soon changed. There have been many questions and many answers for the melting pot and the salad bowl form America and its different citizens. These metaphors can’t be better than the others; they both serve the same purpose just in a different ways. In my opinion today American is not a melting pot; America was once called a melting pot but now is a salad bowl. First of all America is a salad bowl because people today are able to practice their own culture. On the other hand the melting pot doesn’t allow this because all the cultures blend in to from one culture. The salad bowl allows people to retain their original cultures and traditions whereas the melting pot doesn’t. Despite these benefits, some people believe that America is a melting pot instead of the salad bowl. The melting pot states that we should surrender our culture and ethic identities. Whereas the salad bowl lets you be free to choose what you want to practice. The way I see it is that the salad bowl doesn’t make us blend in or surrender our cultures. The salad bowl has many different features that the melting does not have.

Information System Audit in Indian Banks

Information itself is an important asset in today’s business. If information is lost, modified, misused huge loss can occur to business. Hence information security becomes important for any business. Information system in business including that of banking is becoming technology oriented. Computers are being used in all the areas of business including that of financial accounting. Internal controls used in a Computerized Information System (CIS) environment should aim at information security also. This aspect of internal control is mostly overlooked in a Financial Audit where evidence collection and evaluation is more important. Audit provides the assurance to stakeholders of business. Assurance provided by a financial audit is about financial statements, which are relied upon and based on which decisions are taken by many stakeholders. However there are risks associated in any business, which is not highlighted in a financial audit. Operational Risk and Audit For example Basel II Accord mentions of ‘operational risks’ that are due to failure of system, process, procedure and human action/inaction (fraud) and legal restrictions, etc. in the operation of banks, some of which are not dealt in financial audit. The Basle committee has identified people, processes, systems and external events, as potential hazards for operations. Inadequacy and failure of any of them can result into events, which cause losses. Every business has to identify events of their relevance. The events may be similar in the same industry, but vary from an organization to organization. The whole exercise of the operational risk management is to identify potential events, which are likely to cause losses. Here is a list of some of the events, which could lead to operational risk (non exhaustive): Technology error Fraud and theft  Legal, Regulatory non compliance, Transaction risk Processes, people and systems are closely linked with information systems. Even measurement and recognition of external events need information systems. Therefore, under the new Accord, the job of an audit and control practitioner shall become more onerous and challenging. Therefore a financial audit cannot assure that the information system is foolproof as financial auditor is not expert in information technology. Hence an expert should provide an opinion that information system is risk-free. This is where Information System Audit (IS Audit) comes into picture. Meaning of IS audit Information systems audit is a part of the overall audit process, which is one of the facilitators for good corporate governance. While there is no single universal definition of IS audit, Ron Weber has defined it as â€Å"the process of collecting and evaluating evidence to determine whether a computer system (information system) Safeguards assets Maintains data integrity Achieves organizational goals effectively and Consumes resources efficiently. † Key Challenge in IS Audit IS audit often involves finding and recording observations that are highly technical. Such technical depth is required to perform effective IS audits. At the same time it is necessary to translate audit findings into vulnerabilities and businesses impacts to which operating managers and senior management can relate. Therein lies a main challenge of IS audit. Scope of IS Audit IS auditing is an integral part of the audit function because it â€Å"supports the auditor's judgment on the quality of the information processed by computer systems. † Initially, auditors with IS audit skills are viewed as the technological resource for the audit staff. The audit staff often looks o them for technical assistance. Within IS auditing there are many types of audit needs, such as Organizational IS audits (management control over information technology), Technical IS audits (infrastructure, data centers, data communication), Application IS audit (business/financial/operational), Development/implementation IS audits (specification/ requirements, design, development and post-implementation phases) Compliance IS audits involving national or international standards. The IS auditor’s role has evolved to provide assurance that adequate and appropriate controls are place. Of course, the responsibility for ensuring that adequate internal controls are in place rests with management. Audit’s primary role, except in areas of management advisory services, is to provide a statement of assurance as to whether adequate and reliable internal controls are in place and are operating in an efficient and effective manner. So, whereas management is to ensure, auditors are to assure. The breadth and depth of knowledge required to audit information technology and systems is extensive. For example, IS auditing involves the: pplication of risk-oriented audit approaches use of computer assisted audit tools and techniques(CAATs) application of standards (national or international) such as ISO-9000/3 to improve and implement quality systems in software development understanding of business roles and expectations in the auditing of systems under development as well as the purchase of software packaging and project management Evaluation of complex Systems Development Life Cycle (SDLC) or new development techniques (e. g. , prototyping, end-user computing, rapid systems or application development). Evaluation of complex technologies and communications protocols involves electronic data interchange, client servers, local and wide area networks, data communications, telecommunications and integrated voice/data/video systems. Elements/components of IS Audit An information system is not just a computer. Today's information systems are complex and have many components that piece together to make a business solution. Assurances about an information system can be obtained only if all the components are evaluated and secured. The proverbial weakest link is the total strength of the chain. The major elements of IS audit can be broadly classified: Physical and environmental review–This includes physical security, power supply, air conditioning, humidity control and other environmental factors. System administration review–This includes security review of the operating systems, database management systems, all system administration procedures and compliance. Application software review–The business application could be payroll, invoicing, a web-based customer order processing system or an enterprise resource planning system that actually runs the business. Review of such application software includes access control and authorizations, validations, error and exception handling, business process flows within the application software and complementary manual controls and procedures. Additionally, a review of the system development lifecycle should be completed. Network security review–Review of internal and external connections to the system, perimeter security, firewall review, router access control lists, port scanning and intrusion detection are some typical areas of coverage. Business continuity review–This includes existence and maintenance of fault tolerant and redundant hardware, backup procedures and storage, and documented and tested disaster recovery/business continuity plan. Data integrity review–The purpose of this is scrutiny of live data to verify adequacy of controls and impact of weaknesses, as noticed from any of the above reviews. Such substantive testing can be done using generalized audit software (e. g. , computer assisted audit techniques). It is important to understand that each audit may consist of these elements in varying measures; some audits may scrutinize only one of these elements or drop some of these elements. While the fact remains that it is necessary to do all of them, it is not mandatory to do all of them in one assignment. The skill sets required for each of these are different. The results of each audit need to be seen in relation to the other. This will enable the auditor and management to get the total view of the issues and problems. This overview is critical.

Ethical Behavior in the Business World Essay

In the business world there is no place for dishonesty, arrogance or greed. People have to be held accountable; they are responsible for upholding ethical business practices. The old adage â€Å"Ignorance is no excuse† applies in business as well as personal lives. Corporate Leaders and CEO’s have to be held to a higher standard. Ethical behavior means to act in a way that is good and mutually beneficial for the individual and society (Mautner, 2005). This statement makes me wonder who decides what is good and mutually beneficial for society and the individual in business practices. When you deal with International Business relations it is good practice to study the business culture of that country. For example Japan acts on the principle of â€Å"Wa† the ancient word for the concept of peace and harmony. It basically means â€Å"circle† and managers and employees work in a circle of harmony. It is important to understand International culture. In Mexico it is believed that if employees have a siesta midday production will increase. In our Western culture you would be fired if you had a siesta on the job. If a company does not take the time to study the culture and business practices of a country they can find themselves tied up in corrupt business transactions. Is it ethical to take part in corrupt international business transactions? Legal? Explain. The answer to this question depends on the country. While it may be illegal to do this in the US, there may not be any laws enforced against this in other countries because of the different culture there that allows business corruption such as bribery as a daily business practice. Thus, ethically, this is wrong on a universal basis but it is also relative in terms of wrong or right or ethical or not depending on the country and the moral base that they are using as ethics are based upon morals. Thus, in the US, it is not either legal or ethical to take part in corrupt international business transactions but it may be necessary in order to compete in business in certain parts of the world as that is the way that they do business. References: Japanese Etiquette and Ethics in Business / Edition 6 by Boye Lafayette De Mente International Business Law

Project Management 10 Essay Example | Topics and Well Written Essays - 250 words

Project Management 10 - Essay Example nately, Terry was bombarded with detailed engineering-related questions about the specifications and production issues hence she gets frustrated and close the presentation leaving the meeting. Terry presentation however, shows us that she was not prepared well for this presentation and that through various questions she was asked from the audience shows that the presentation was not appropriate. Before presentation, one needs to dedicate his her appropriate time which is a crucial part of marking a successful presentation (Steele, 2009). Terry was supposed to think carefully about the message to communicate and this could have played a role in boosting her confidence as well. A good presentation incurs distinctive elements including the objective, subject, and the nature of the audience, the place, time and length of the talk which makes a presentation successfully. Terry however, at the start of her presentation would have critically articulated clarity on whether and when she should be answering the questions from the audience. She should have told the audience to raise their questions when she completes her all slides explanation of the project. This help a lot since the some of the audiences questions can be well answered as go along the presentation. The decision to walk away from presentation was null. As a project manager, it is better to explain engage divisibly with the audience and assure them to get their questions answered as soon as possible once the problem have been resolved since nature at times takes into

Timeline Essay Example | Topics and Well Written Essays - 1750 words

Timeline - Essay Example The definition of the computer used today is based primarily in von Neumann’s conception that the computer is a device, which is capable of accepting data input, processing data, storing it and producing data output. The history of computing has progressed from the vacuum tube to the transistor, ultimately to the microchip and modem. This paper will provide a comprehensive timeline of the history of computing, describing the evolution of various computing items through timelines such as 2400 BC–1949,  1950–1979,  1980–1989,  1990–1999,  2000–2009,  2010–2019. 2400 BC–1949 In this period, computing devices focused primarily on enhancing people’s capacities to make calculations. The initial devices used for calculation were tally sticks, with the Lebombo bone being the first known to modern archeology. However, the abacus, developed in 2400BC is the first ever calculator, invented by the Babylonians to enhance sim ple arithmetic. The Chinese abacus (suanpan) was invented in 200BC and was widely used before the invention of present day’s calculator (Isaacson, 2011). ... In 1930, American Vannevar Bush developed a partly electronic difference engine with the capacity to solve differential equations. In 1939, German Helmut Schreyer completed a prototype memory using neon lamps and a 10-bit adder prototype using vacuum tubes. In 1942, Americans Atanasoff and Berry made a special-purpose calculator for system solutions of linear equations, later known as the Atanasoff-Berry-Computer (ABC). German Konrad Zuse created the S1, which was the first process computer that measured the surface of wings (Turner, 2006). In 1944, IBM developed the second program machine, which was 51 feet long and weighed nearly 5 tons. In British, in 1949, the Manchesteer Mark 1’s final specifications were completed. This machine was the first computer to utilize the equivalent of index registers, which entered the second generation computing architecture in 1955. 1950–1979 This period appeared to focus intently on the creation of computer communication and intellig ence. In 1950, the Pilot ACE computer, having 800 vacuum tubes with mercury delay lines as its main memory became functional in the UK (Black, 2001). In 1951, Americans J. Prespert Eckert and John Maunchly designed the first commercially operational electronic computer, UNIVAX, which handled both textual and numeric information. This machine’s implementation was the real start of the computer age (Isaacson, 2011). In 1951, the CIRAC (Council for  Scientific and  Industrial  Research  Automatic  Computer) became the first digital computer used to play music. In 1952, IBM introduced the IBM 701, which was the initial computer in its 700 and 7000 series of large scale machines. In 1960, the initial ordered, technical programming

Leadership and Communication Term Paper Example | Topics and Well Written Essays - 1750 words

Leadership and Communication - Term Paper Example Each leader possesses a unique leadership style and/or philosophy and communicates in a particular way depending on numerous factors such as their individual personalities, their levels of experience, education, or training, which greatly determines how followers react to leadership (Hersey, Blanchard, & Johnson,2013). Three major leadership styles that have persisted over the years include the Authoritarian, Democratic as well as Laissez-Fair; the autocratic leader establishes clear guidelines specifying tasks and procedures for accomplishing the given tasks thereby providing guidance for his or her followers. Nonetheless, the autocratic leaders make their independent decisions without involving their followers and are viewed as controlling, bossy and dictatorial thus may undermine the motivation of the workforce in accomplishing their specific tasks. Unlike the autocratic style, the democratic style of leadership entails a consideration of group input in the decision-making process ; precisely, democratic leaders value the need to engage followers in decision-making by listening to their suggestions. Consequently, the democratic leader makes his/her followers feel more engaged, valued and respected, which eventually makes them even more creative and motivated to contribute to the success of the organization; nonetheless, this style may also undermine performance due to disagreements and long consultation sessions. Unlike the other two leadership styles, the Laissez-Fair is suitable for work environments that have responsible group members that can work productively on their own without any form of supervision.