Calls To Action

Invitations to take action Invitations to take action Invitations to take action By Maeve Maddox A peruser ponders about the plural for a promoting term: As of late the CEO of an organization composed an email to me saying that his product would naturally create call-to-activities. I am almost certain he ought to have composed invitations to take action. Am I right? The peruser is right. While pluralizing a compound word that contains more than one thing, the general principle is to make the central thing plural. For this situation, call is the key thing. The plural is â€Å"calls to action.† The term â€Å"call to action† alludes to the piece of a notice that prompts a buyer to act. In messages proposed for perusers in the advertising business, the term is normally composed CTA. â€Å"Buy now!† and â€Å"Order now!† are common CTAs. As â€Å"call to action† doesn't have a section in the OED, Merriam-Webster Unabridged, Collins, or the AP Stylebook, I can’t refer to one of my typical specialists with respect to whether the thing structure ought to be hyphenated. My impulse is that it ought not. The view communicated in The AP Stylebook mirrors the normal demeanor among distributers: â€Å"The less hyphens the better; use them just when not utilizing them causes confusion.† A Web search isn’t much assistance in finding which formâ€hyphenated or non-hyphenatedâ€is progressively basic with â€Å"call to action.† I found a business blog that plumps for the hyphens: inspire, suggestions to take action, CTA, CTAs: Always hyphenate when utilized as a thing (as in â€Å"call-to-action† or â€Å"calls-to-action†) or a descriptive word (as in â€Å"call-to-activity button† or â€Å"call-to-activity manager†). At whatever point conceivable, attempt to use CTA or CTAs instead of the hyphenated rendition (it’s a significant piece!). Be that as it may, the unhyphenated expression is by all accounts the favored decision in legitimate British, Australian, American, and Canadian distributions and on government locales. â€Å"Call for action† can be comprehended without hyphens as a thing, yet it requires them when the expression is utilized as a modifier. Here are instances of both thing and modifier use: Each site ought to have a source of inspiration, a reaction you need clients to finish. Does Your White Paper Have a Call to Action? Structure and generateâ call-to-activity buttonsâ in minutes.â Go plant those source of inspiration states in your duplicate and watch your business develop. With or without hyphens, add the - s to call to make the expression plural. Related post: Compound Plurals Video Recap Need to improve your English quickly a day? Get a membership and begin getting our composing tips and activities every day! Continue learning! Peruse the Spelling classification, check our well known posts, or pick a related post below:How Many Tenses in English?Ten Yiddish Expressions You Should KnowI wish I were...

5 Examples of Misplaced Modifiers

5 Examples of Misplaced Modifiers 5 Examples of Misplaced Modifiers 5 Examples of Misplaced Modifiers By Mark Nichol You’ve heard that planning is everything. Recorded as a hard copy, be that as it may, arrangement comes out ahead of the pack with regards to passing on importance. Think about these models. 1. â€Å"So far, the book has just turned out in Italian.† It has just turned out in Italian? It hasn’t done something else in that language? No, it is just in Italian that it has come out. This amendment says so unmistakably: â€Å"So far, the book has come out just in Italian.† (The position of just inside a sentence is the most well-known kind of lost modifier. It’s trivial in communicated in English, yet recorded as a hard copy, it’s best set in its proper place.) 2. â€Å"Then you’ll have the option to endure pretty much whatever life tosses at you with certainty and style.† What, precisely, does life toss at you with certainty and style? Nothing. It’s you, not your life, that displays these characteristics: â€Å"Then you’ll have the option to make due, with certainty and style, pretty much anything that life tosses at you.† 3. â€Å"She kicked things off as the principal lady to run for leader of the United States in 1872.† This sentence suggests that the subject was the primary lady to enlist as a presidential applicant that year. In any case, the significance is that in that specific year, she turned into the primary such applicant ever. This modification imparts that point: â€Å"In 1872, she kicked things off as the primary lady to run for leader of the United States.† 4. â€Å"She found a new line of work with an association that created approach for youth and youngsters while she was a political theory major.† The impression one gets from this sentence is that the association completed its crucial during the term of the subject’s time at the college. Be that as it may, saying is that she acquired her activity with an association that sought after that objective autonomously of her residency, and that she was an understudy when she did as such, as passed on here: â€Å"While she was a political theory major, she found a new line of work with an association that created arrangement for youth and children.† 5. â€Å"Smith as of late introduced a paper at a gathering titled ‘Averting Bloodshed: The Benefits of Community-Based Mediation Services.’† What exactly does the title allude the paper, or the gathering? The closeness of gathering to the title suggests that the occasion was so named, yet this update uncovers reality: â€Å"Smith, at an ongoing meeting, introduced a paper titled ‘Averting Bloodshed: The Benefits of Community-Based Mediation Services.’† Need to improve your English quickly a day? Get a membership and begin getting our composing tips and activities every day! Continue learning! Peruse the Grammar class, check our well known posts, or pick a related post below:Bare or Bear With Me?Grammar Quiz #21: Restrictive and Nonrestrictive ClausesHow Many Sentences in a Paragraph?

Why You Should Not Hire MBAs For Your Startup

Why You Should Not Hire MBAs For Your Startup Once upon a time, getting an MBA from any business school was one of the best investments professionals in any industry could ever make. An MBA did not only help them climb the corporate ladder very quickly, but most of the MBAs also went on to become successful entrepreneurs. Similarly, startups would also pay high salaries to hire graduates from premium business schools to enhance the performance of their management teams, but this is no longer the case.What business schools teach MBA students is insufficient to meet the requirements of fast-paced startups. Similarly, the best path to entrepreneurship nowadays is to work for startups rather than corporate management. MBA students are taught to look at the already available data to predict future outcomes. But when it comes to innovation and or exploring new markets, this method does not work at all.It is a fact that there are 74% more MBA graduates than there were at the turn of the 21st century. Every year, almost 180,000 MBAs gra duate from various business schools across the country. However, the slow job market after the recession and the declining value of the degree means the salary of fresh MBAs has decreased by 4.6% over the last few years.Still, MBAs earn twice as much as people with a regular master’s degree, finance and consulting being their favorite professions. For instance, 25% and 52% of Harvard MBA graduates accept jobs as consultants and financial advisors respectively, mostly in large corporations.In fact, MBAs are more beneficial for established and large organizations. When it comes to startups that require their employees to be super innovative, create new business models and disrupt industries, MBAs are bound to struggle. © Shutterstock.com | ImageFlowIn this article, you will read about 1) advantages and disadvantages of getting an MBA, 2) top reasons MBAs fail at startups and why you should not hire MBAs for your startup, and 3) when getting an MBA makes sense.ADVANTAGES AND DISADVANTAGES OF GETTING AN MBAIt is always impressive to put MBA as a credential on your resume. However, the degree has many merits and demerits, some of which are described below.Advantages of Getting an MBA:Extensive Networking with MBA Alumni: Students enrolled in MBA programs have better opportunities to network, not only with MBA alumni but with other successful businessmen as well. There are many schools that allow you to work directly with business professionals who boast years of practical experience. This can greatly help you to accentuate your business management capabilities. Then internships, which provide you a chance to meet with potential employers, are an integral part of most MBA programs. This extensive netw ork will not only help you to get a job but will also support you throughout your career.They Can Find Investors Easily: As an MBA graduate, it is very easy for you to find investors if you want to launch a new business, thanks to your extensive network. There might be many angel investors in your MBA alumni network who are willing to fund your business. Similarly, you can use your MBA as a tool to strongly present your case to an investor. Most investors look for a convincing business case and a strong team, and an MBA can help you to stand out from the rest.Superior Analytical Skills: A business professional with an MBA degree usually has superior analytical skills compared to others. You will have the basic knowledge and in some cases, firsthand experience of how the market survives, how to maintain a balance between demand and supply and what your competitors are up to. Moreover, you will have a better idea of how your respective industry works and how to formulate effective str ategies in order to thrive. You will be in a better position to influence organizational goals and work toward attaining those goals.Higher Salaries: Against common perception, your salary will be considerably higher compared to a professional with a regular master’s degree. The average salary for an MBA ranges from $70,000 to $120,000. It is pertinent to note that employees with a regular degree usually earn half as much as an MBA graduate. There is no doubt that an MBA is an expensive degree to get ($110,000 at a top university) but you can cover that investment in 2-3 years.Better Career Opportunities: If you have an MBA degree, you have better chances of getting and retaining a management level job. On the flip side, you would have to handle more responsibilities and work for longer hours in order to fulfill those responsibilities. An MBA is definitely going to increase your chances of attaining your goals whether it is to get a new job or advance your career by getting a mana gement position.Disadvantages of an MBA:MBAs Have Certain Limits: Despite its benefits, there are some genuine arguments against getting an MBA degree. Some people argue that MBAs are not very creative, and it is difficult for them to adapt. Aaron Patzer, founder of Pando Daily Quotes Mint, suggests that businesses should subtract $250K for every MBA and add $500K for every engineer. Similarly, if you somehow miss the competitive environment and higher stakes of top business schools, you may find it very difficult to adjust in the real life business world occupied by the culture of entrepreneurialism and startups.High Cost: The cost of getting a standard two-year MBA is constantly on the rise. If you want to get MBA degree from a top business school such as Harvard, you have to spend $100,000 on average. Similarly, you can spend another $100,000 if you are going to a full-time school. Making matters worse, you will have to pay most of the bills yourself despite the fact that you may be eligible for many financial aid programs. The final payment can increase by thousands of dollars if you have taken a loan to fund your education, considering the extra cost of interest.Time to Complete the Degree: A typical MBA program can take one to two years to complete. On the other hand, you may take up to eight years to complete your degree if you are studying part-time. Whether you are studying full-time or part-time, it is a big time commitment. During this time period, you are missing your family, your loved ones and important time in the present. Most importantly, you may miss a lot of better career opportunities while completing your MBA as well.Lack of Specialization: Some industries do not want a person with special training in business administration to hold a management position. What they need is a person with specialized training in the industry. You, as a generalized MBA, may not be able to get your dream job. In this case, it is far more beneficial to get a mo re focused advanced degree in economics, finance or education administration. A specialized MBA can also resolve the problem but again, specializing in one industry makes it difficult to get a job in another.Lack of Direction: Younger professionals often find it hard to maintain their focus and this is the case with fresh MBAs. Their lack of experience and specialization make it difficult for them to adjust in a new environment and make their own goals and visions come true. Most fresh MBAs are unable to move forward in a consistent direction because they usually have no idea what the business wants from them and what they need to do to mingle with the rest of the employees.Narcissism: There is nothing wrong in saying that MBAs tend to be more narcissistic as compared to other graduates. While narcissism is not a bad thing, such people are overly convinced of their own abilities. An MBA is considered an extremely prestigious degree in most countries and thus, an MBA graduate finds i t hard to follow the instructions or recognize the organizational boundaries. This is the reason why some people are reluctant to hire MBAs.Can’t Generate Their Own Ideas: Most MBA programs only cater to the academic needs of the students and offer nothing to enhance your thinking, creative and innovative skills. You may prove to be an exceptional employee in a workplace where you just have to execute some else’s business plan. However, you may find yourself at sea when you have to come up with business ideas of your own. It is a fact that most generalized MBAs struggle to offer anything new while working in a highly specialized environment.TOP REASONS MBAs FAIL AT STARTUPS AND WHY YOU SHOULD NOT HIRE MBAs FOR YOUR STARTUPThere is a host of reasons why most MBAs fail at startups, such as:They Don’t Have Business Sense: Years ago, it was very expensive to start your own business but this is no longer a case. Everyone, even with limited resources and knowledge, can run a very su ccessful business. Therefore, if an MBA desperately searches for a job, it simply means that he is not good at managing a business. In fact, it is very easy to find someone without an MBA that is more suited for a particular position. Remember that organizations mostly hire employees with certain skills which an MBA degree is unable to offer.They Can’t Think Creatively: As mentioned above, MBAs are not very adaptable or creative at all. On the other hand, skills imparted by most MBA programs are too narrowly focused, to say the least. People who do not have an MBA or any other advanced degree to fall back on tend to be more creative. Most MBAs tend to present the same solutions to different problems that might work perfectly for one organization but fail to produce similar results for another. MBAs tend to use only their academic knowledge to manage affairs because they are taught only a general overview of management.Academic Achievements Are Worthless: It sounds very harsh, but academic achievements are mostly worthless when you start your practical life. It is not very difficult to get an MBA degree, to be honest. You just have to listen to your professor, memorize lessons, read textbooks and case studies and reproduce them in the examination. What most employees want you to have is actual business exposure and experience. If you are unable to demonstrate your experience as well as passion for the job, your MBA is literally worthless.False Sense of Entitlement: It is not easy these days to get admission into a good business school. But it is never wise to believe that you can get any job you want just because you are an MBA graduate. An MBA does not tell anything about how good a business manager or entrepreneur you can be. Unfortunately, most fresh MBAs don’t realize that they can face hard times in startups just like people who are not MBAs.Limited Entrepreneurial Exposure: A typical MBA program is classroom-based and therefore, you don’t get much o f a chance to get firsthand entrepreneurial experience. Things can get especially problematic for fresh MBAs working in startups that need their employees to come up with new ideas and solutions to get the business up and running. MBAs lack the experience to make a difference to any business, let alone startups.Actions Versus Analysis: Many schools still use the Socratic Case method to teach MBA students. This method works fine in situations where a lot of information is available to make potential decisions. However, most startups don’t have time, money or information to view the problems in historical perspective. Much of the information MBAs know comes from case studies that are totally irrelevant to startups that put greater value on execution rather than analysis.MBAs Mainly Use Tools Only: Startups don’t need people who can only solve problems that are already defined and solved. They need people who can define their value proposition, pricing model and target market, etc. They usually hire someone who has the experience to identify and prioritize problems. What MBAs tend to do is to apply solutions readily available from their toolkit to most problems, giving birth to more problems rather than solving them.Attitude Problems: There is nothing wrong in saying that most MBAs, especially from top business schools, are more concerned about building their careers instead of sharing responsibility and creating stronger teams. This can really hamper the growth of startups that require their employees to work collectively rather than individually. The startup will definitely sink if everyone is working in his own direction.Unqualified Professors: Most professors are great at teaching theories to MBA students, but they are simply unqualified to teach future entrepreneurs because they themselves lack practical industry experience. It sounds harsh, but most of them have no idea how to prepare students to take on future business challenges. They don’t let thei r students think out of the box as well as research and study outside their syllabus because according to them, only textbooks are the accurate source of information students can get.The Information Is Outdated: Contrary to general belief, much of the information imparted to students in the form of textbooks and case studies is simply outdated. For instance, a new case study or theoretical paper takes a long time to get accepted because it has to go through a strong peer-to-peer process involving a lot of feedback, corrections and revisions. By the time it is accepted, it has already lost its relevance to the business world. On the other hand, startups need professionals who are current in industry trends and have the relevant experience to move the company forward.MBAs Have Lofty Expectations: MBA graduates have lofty salary expectations because they spend a lot of money to get the degree. This is understandable but unfortunately, most startups are unable to offer even average mark et salary ($90,000) to MBA graduates. Similarly, a vast majority of MBAs refuse to get a below-market salary. As a result, MBAs usually avoid working in startups.WHEN AN MBA MAKES SENSE AND WHEN IT DOESNTIf you are interested in getting into a startup ecosystem, but you are considering getting an MBA first, here are some tips to help you determine if getting an MBA makes sense for you.When an MBA Makes Sense:If you already have a certain amount of professional and personal maturity.If you are looking to switch your industry after working for more than 5 years in it.If you are able to enroll in a full-time, two-year program.If the curriculum offered is more practical and related to your industry.If you can get admission to a top business school because the more renowned the school, the more the return will be on your investment.If you enjoy learning and academic/classroom settings.If you want to get a job in a bigger startup (50 -100+ people) as a senior manager or business administr ator.When an MBA Does Not Make Sense:If you want to get experience and work in a new startup.If you just want to keep up with others who have an MBA degree.If you are missing valuable practical experience.If you can only study part-time, as it takes longer to complete the degree.If you have to take huge loans to fund your education.If you are introverted and not a team player.If you want to move to a new startup after spending only 2-3 years in an industry you don’t want to work in.If you can’t get admission to top business schools such as Harvard, Wharton or Columbia.CONCLUSIONFinally, if you do want to hire MBAs for your startup, only select graduates from top business schools. They make the pre-selection and enroll only intelligent, confident and ambitious students who have the passion and necessary qualities to succeed as a business manager in the long run. In fact, screening performed by business schools can help you hire the most talented employees for your organization.

American Culture And Its Impact On Aboriginal Culture

On June 11th, 2008 former Prime Minister Stephen Harper apologized to the Aboriginals saying â€Å"today, we recognize that this policy of assimilation was wrong, has caused great harm and has no place in our country† (CBC news). The Aboriginals, waiting for this moment to occur in Canadian history responded with sorry is not enough. Assimilation is defined as absorbing a culture or adapting to a nation. The wrong in what happened in the historical past was assimilation was attempted in very wrongful unforgiving way, actions indeed do speak louder than words. The real question could be why was assimilation such a key goal? Did it play a part into why Aboriginals culture slowly is eroding? Some may say that the lack of Aboriginal Culture in our days, today was caused by a reason that had nothing to do with the Government of that time. With the White Paper being rejected, it lead to Canadians thinking that Aboriginals denied a â€Å"great offer†. But none of the canadia ns came to realize how unfair the terms the Aboriginals received were. The Indian Act was a way the government used to be successful in assimilation in a lot more secretive manner. Whereas the Residential Schools practically were screaming out â€Å"assimilation†, their goal was made a lot more clear after the Residential Schools came out. This essay will argue that Indian Act, Residential Schools, and the White Paper was an assault to their culture and an erosion of their values/practice . The Indian Act of 1876 was aShow MoreRelatedThe Negative Implications Of Cultural Appropriation1718 Words   |  7 Pagesdominant westernized cultures. The cultural appropriation of minority cultures in order to construct the Grand Narratives of dominant cultures has a negative effect on those who are apart of the oppressed minorities. These dominant cultures borrow cultural elements, which is reflected in their use of entertainment, Aboriginalia, as well as in racialized costumes. All of these factors relay negative effects on minorities and facilitate intercultural barriers. In western cultures specifically, suchRead MoreEthnology. The Story Of Colonized People Has A Similar1380 Words   |  6 Pagesboth groups are typically generalized as one group - in this case, the Aborigines and the Native Americans. However, these groups are made up of many smaller clans or tribes that each had a unique language and culture. Additionally, they both lived in a variety of different areas throughout their respective continents, and thus it is hard to generalize them. 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Despite the tremendous diversity among Indigenous peoples, they all share one thing- the harvesting of fish, wildlife, and plant materials has been their historical basis for economic life. For Canadian Aboriginal cultures, land means far more than property- it â€Å"encompasses culture, relationshipsRead MoreImpact Of Colonialist Values On Perceptions Of Native Americans1556 Words   |  7 PagesThe Impact of Colonialist Values on Perceptions of Native Americans in Green Grass, Running Water Green Grass, Running Water by Thomas King largely deals with the consequences of the conflict between Native American values and colonialist foundations. In particular, King examines the reasons behind the misconceptions and false perceptions of aboriginal people within the dominant European North American culture. In the novel it is asserted that the problems of the Native American people are due toRead MoreConflict between Canada and the First Nations Essay1139 Words   |  5 Pagesbrought many diseases that the Aboriginal people were unfamiliar with and had no resistance to, or cure for. â€Å"By the 16th century about 80% of Canadas Native population had died from the various diseases (Renneboog, 5).† The Europeans also came to Canada with the intentions of taking all of the land for themselves, disregarding the people who occupied the land before them. Over time the Europeans had manipulated the First Nations to their will and the Aboriginals were discriminated for their differentRead MoreCanadian Culture Essay1408 Words   |  6 Pagescome to exist dictate how others perceive them as a culture. Canada is a provocative country with a divergent population. Each individual culture brings a meaningful element of intangibility that sets us apart as one of the most interesting and exclusive places to live in the entire world. Canadas identity spurs from its original founding people; The French, English and Aboriginals. To understand Canada is to understand the history and culture of each people to know what it truly means to be CanadianRead MoreThe Impact Of European Colonization On The Aboriginal People Of North America877 Words   |  4 PagesEuropean colonization has had a profound and lasting impact on the aboriginal people of North America. As much as 95% of native Americans perished due to their susceptibility to European diseases such as smallpox, measles, and tuberculosis. In David Jone’s Virgin Soil Revisited, he concludes that their astronomically high death rates were due to environmental and social factors such as malnutrition, warfare, and slavery brought upon by the Europeans. 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However, what is almost always left out is the appropriate context behind why many Aboriginal families experience certain social conditions that cause them to be framed in this perpetually negative manner. This consideration would factor in a long and impactful legacy of colonialism. Essentially, when European

How Combinations and Permutations Differ

Throughout mathematics and statistics, we need to know how to count. This is particularly true for some probability problems. Suppose we are given a total of n distinct objects and want to select r of them. This touches directly on an area of mathematics known as combinatorics, which is the study of counting. Two of the main ways to count these r objects from n elements are called permutations and combinations. These concepts are closely related to one another and easily confused. What is the difference between a combination and permutation? The key idea is that of order. A permutation pays attention to the order that we select our objects. The same set of objects, but taken in a different order will give us different permutations. With a combination, we still select r objects from a total of n, but the order is no longer considered. An Example of Permutations To distinguish between these ideas, we will consider the following example: how many permutations are there of two letters from the set {a,b,c}? Here we list all pairs of elements from the given set, all the while paying attention to the order. There are a total of six permutations. The list of all of these are: ab, ba, bc, cb, ac and ca. Note that as permutations ab and ba are different because in one case a was chosen first, and in the other a was chosen second. An Example of Combinations Now we will answer the following question: how many combinations are there of two letters from the set {a,b,c}? Since we are dealing with combinations, we no longer care about the order. We can solve this problem by looking back at the permutations and then eliminating those that include the same letters. As combinations, ab and ba are regarded as the same. Thus there are only three combinations: ab, ac and bc. Formulas For situations we encounter with larger sets it is too time-consuming to list out all of the possible permutations or combinations and count the end result. Fortunately, there are formulas that give us the number of permutations or combinations of n objects taken r at a time. In these formulas, we use the shorthand notation of n! called n factorial. The factorial simply says to multiply all positive whole numbers less than or equal to n together. So, for instance, 4! 4 x 3 x 2 x 1 24. By definition 0! 1. The number of permutations of n objects taken r at a time is given by the formula: P(n,r) n!/(n - r)! The number of combinations of n objects taken r at a time is given by the formula: C(n,r) n!/[r!(n - r)!] Formulas at Work To see the formulas at work, let’s look at the initial example. The number of permutations of a set of three objects taken two at a time is given by P(3,2) 3!/(3 - 2)! 6/1 6. This matches exactly what we obtained by listing all of the permutations. The number of combinations of a set of three objects taken two at a time is given by: C(3,2) 3!/[2!(3-2)!] 6/2 3. Again, this lines up exactly with what we saw before. The formulas definitely save time when we are asked to find the number of permutations of a larger set. For instance, how many permutations are there of a set of ten objects taken three at a time? It would take awhile to list all the permutations, but with the formulas, we see that there would be: P(10,3) 10!/(10-3)! 10!/7! 10 x 9 x 8 720 permutations. The Main Idea What is the difference between permutations and combinations? The bottom line is that in counting situations that involve an order, permutations should be used. If the order is not important, then combinations should be utilized.

Happy Teacher Free Essays

â€Å"HAPPY TEACHER† A Narrative Report on Practice Teaching 2011- 2012 Maria Regina D. Gile My parents would always tell me how I dreamed of becoming a teacher in the future. I would usually be found holding a book and a pen, scribbling some notes and cutting off sheets of paper. We will write a custom essay sample on Happy Teacher or any similar topic only for you Order Now A chalk and a board was my favourite, they would say, with matching pointing stick. I guess ever since, I find teachers so majestic and powerful and smart that made me want to be one. That was BEFORE not until now. Not today. I want to become a fashion designer, an interior designer, anything that has to do with the Arts. I love anything related to it. Colours, pegs, pencils, paintbrushes, everything. That is what I want. But you see, not all that we want, we get. This is what I want but I’m taking up what I don’t want. BS Education. Well for one it’s because a lot of people look at it as a low profession. Second, monetarily speaking, it does not tantamount to all the works to be done and efforts exerted. And lastly, my patience level? Err. Below Average. I cannot tolerate slow learners, or mentally challenged ones, or whatever you call them. I just am not comfortable with that. But fate brought me here. God brought me here. Although hard to accept, I had to. The first few years of me being an Education Student went quite well. I got high satisfactory grades, loved by teachers and gained friends. Everything was going well. I could get used to this, I thought to myself. Four years and I still haven’t shifted. Cool. And in my fourth year, the â€Å"total defining moment† has finally arrived; and that is to Practice Teaching- in an unfamiliar environment- just us- no back- up. Oh great, I thought. I better ready myself. I cannot back out! THIS IS A REQUIREMENT! I NEED TO DO IT IN ORDER TO GRADUATE! And so i did. I entered the room sheepishly with all eyes on me. Not to mention the slight murmurs children made and slight laughs. Boom- boom- boom! My heart went. I was assigned to Grade 1 students. I can do this. So in the first few weeks, i observed and supervised classes but not really went to the act of teaching. Children would usually approach me, asking me to open their biscuits, punch straws on their juices and fix their belts. It felt good and that was quite odd. I never opened myself to this perspective. Days went on and I realized i have memorized their names in just a week. I would usually call out their names to tell them to keep quiet, to fall in line and to fix their things. I’m lovin’ this i thought. What even made me realize i could be in this profession is when students started giving me cute little heart shaped papers telling me how much they love me and how beautiful i am. These kids really know how to appreciate every small little thing! My presence, they say, makes them feel safe and that they never want me to go away. Isn’t that sweet? Until finally i realized, i could be a teacher. I love kids, i love how they express their gratitude, i love the classroom setting! It makes me feel confident and safe and everything! And from that moment, i realized i wanted to become a Grade- school teacher. Not because i am enforced in this course but because i want it. Yes, i want to become a teacher. My â€Å"realization† was even strengthened when i started teaching. At first i was extremely nervous and uneasy because i do not know what to expect. Will they listen to me? Will they learn from me? Can they adapt to my strategy? All of these questions kept running in my mind until one student approached me and gave me a hug. I needed that. I instantly felt at ease. It felt like home. So i went on. The night before my teaching, i practiced and prepared myself very well. From the motivation, presentation, lesson proper and all. I didn’t want to fail. I need to impress my students, my critic teacher. So going back, when i started talking in front, i find myself getting more energetic and excited. i love talking and this profession allows me to maximize my mouth muscles! Great! The kids started listening attentively, actively participated and they are getting excited too! With this, i even thought, i am a great teacher! I can arouse their interest, they are listening and my critic teacher is smiling! It feels good and rewarding, honestly. All the things i have learned, i integrated, all the strategies taught, i applied and i said to myself this is gonna be fun! And so, i always prepared lessons even two days before and thought of different ways to motivate my students. I injected humor in my discussions that made the class lively, games to challenge the students, and riddles and more. It was fulfilling to see those timid students before were actively reciting and are motivated by me. I got so attached to all of them easily, taking care of them as if my own children. They’re my little angels! And everyday i look forward to see them despite the tedious works and deadlines. I know that becoming a teacher isn’t easy. It requires a lot of patience and hard work and passion. And i am thankful to God for bringing me here. If i didn’t give it a try, i wouldn’t have seen the beauty of this profession. Thanks to St. Paul too, for this practice teaching. It exposed me to an environment i would probably be dealing with for the rest of my life and through this Pauline Education, not only has it moulded me as a professional but a teacher with a heart and values. Finally, with the practice teaching i have experienced, it served as an eye- opener that becoming a teacher is not bad at all. It is a fulfilling profession not only academically or professionally but a food for the soul. How to cite Happy Teacher, Essay examples

Companies Prefer Starting Business In Japan-Myassignmenthelp.Com

Question: Why Do Not Companies Prefer Starting A Business In Japan? Answer: Introducation It is often seen that many foreign companies do not prefer starting a business in Japan, considering the misconception that adjusting with the business culture of Japan involves high risk. However, Japanese business culture is not an impenetrable barrier to the entry and business success of the foreign companies that has been proved by the significant Japanese market share of BMW, Chanel, Mercedes-Benz and Yahoo! etc. In fact, certain aspects of the business culture of Japan like long term relationship resulting from the Japanese culture of maintaining loyalty to the trusted partners can be very advantageous for the international firms (Friedman, 2014). The main thing that the foreign companies need to learn is the Japanese business etiquette. This essay sheds light on Japanese business etiquette based on which Emily is suggested the way she should communicate with Mr. Hamasaki with whom she wants to establish business partnership for expanding her The Aromatic Condiment Shop. This e ssay also indicates the way Emily should communicate with him keeping in mind the cultural differences between Japan and Australia. Exchanging business cards is an integral part of the Japanese business culture, irrespective of the occasion. Thus, it would be essential for Emily to have business card, which is known as meishi in Japan that need to be exchanged as a gesture of introducing her business to Mr. Hamasaki. While meeting with Mr. Hamasaki, Emily needs to ensure that she is dressed formally as casual business dress is not always acceptable in the Japanese business etiquette. On the other hand, wearing business casuals in meetings in Australia is acceptable (Fox, 2011). As this would be the first meeting between Emily and her Japanese host, showing honour to the Japanese culture would help her to develop trust to a certain extent. This is because Mr. Hamasaki would understand that as Emily has the knowledge of the Japanese culture, her products and services would be suitable for the local demands and tastes and thereby, elevating the chances of fetching maximum return on investments. At first, Emily should bow her head and wait to see if her Japanese host initiates a handshake. Although it is expected that he will offer a handshake, Emily needs to understand that it is not as natural for Japanese professionals as bowing head. Thus, restricting own self from taking this initiative would eliminate the chances of humiliation for Mr. Hamasaki. Seating arrangement during a business meeting is very specific and structured in Japan. Generally the one at the top most hierarchy takes the head of the table and the highest ranking executives would sit closest to him/her and the rank of the executives would decrease as the one reaches to the opposite side of the table (Asefeso, 2012). Although Emily would be visiting Japan for a face-to-face meeting with her Japanese counterpart, it is not certain that there would be no other executive during the meeting. As this would be her first meeting with Mr. Hamasaki, it is expected that she would have no idea about the rank of other executives. So, to demonstrate an understanding of the Japanese business culture and etiquette, Emily should wait for direction on the place to sit. However, it is not necessary to wait for instruction to sit down. On the other hand, it is essential to remember that if none of the executives including Mr. Hamasaki is sitting, Emily should not make the first attempt (Lee Peterson, 2000). The same rule should be applied in almost every action that takes place during the meeting like speaking, eating and drinking etc. Taking notes and/or repeating an idea for clarity wou ld ensure Emilys interest in the meeting and acknowledge to the input(s) of Mr. Hamsaki. This, in turn, would ensure him that she is serious about establishing a strong foothold in the Japanese food sector. Presenting gifts is a part of the Japanese business protocol, but not mandatory. Thus, in case Emily is offered any gift, it would be essential for her to show appreciation and thank Mr. Hamasaki and others (if any) involved in the presentation. However, the gift should be opened in private. Emily needs to know this prior to the meeting that it is often difficult to view the thoughts, priorities and motivations of the Japanese professionals. They are more likely to depend on the non-verbal clue and the area of what they speak rather than the literal meaning of the words used by them to say it. This is completely contradictory to the Australian business culture, where it might result in conflict or miscommunication (Friedman, 2014). This indicates that effective communication in Japan generally takes place in indirect way. On contrary, Australians are very straight forward in nature especially in the business context and thus, they often do not require developing long term relationship before starting a business with someone (Offord et al., 2015). This major difference between the business etiquette of Japan and Australia needs to be considered by Emily during the meeting with her Japanese counterpart. Emily needs to remember that in Japan, meetings are held to acquire in formation rather than sharing own ideas or information. Sharing and discussing ideas go through quite a long process before making a final decision. Thus, Emily should not hurry in front of Mr. Hamasaki for entering contract to establish her business in Japan otherwise it would give a wrong impression of her. It is expected that Emily would deal with this situation efficiently as patience is highly appreciated in Japanese business culture especially at the time of decision making. However, she might face difficulty is showing her unwillingness to accept a concept as Australian professionals are comfortable in saying no directly, whereas Japanese professionals prefer using various statements and gestures to show their disapproval (He Llu, 2010). Therefore, Emily would be required to use proper gestures and language to indicate her unwillingness to accept any idea while ensuring it does not hurt the self-esteem of Mr. Hamasaki rather than saying no straight away. Before attending the meeting with Mr. Hamasaki, Emily needs to consider the cultural differences between Japan and Australia. This is because the cultural differences influence the communication process and thus, there are high chances of miscommunication in case such differences are not addressed properly. High context and low context communication need to be considered in this context. Although cultures are difficult to be classified under high context or low context, some are often towards the higher end and some at the lower end. In accordance with the Hofstede framework, unlike Australia, Japan is high power distance country (Richardson Smith, 2007). As a result, the dependency level of the superiors on the subordinates is low in Japan. The country has low context culture, where they do not engage too much with each other and often avoid using words with direct/potential meaning. On the other hand, Australia has high context culture, where employees frequently communicate and e ngage with each other (Evans, 2003). Thus, indirect communication needs to be used by Emily in the meeting to avoid the chances of any miscommunication. Thus, it can be argued that cultural differences indicate the type of communication preferred by the professionals and thus, any mismatch in this context leads to miscommunication. Japan scores lower than Australia in the individualism parameter. This indicates that Japan has individualistic society and Australia has collectivist society. Unlike collectivist, in individualistic society people think about themselves and their immediate family (Hofstede, 1984). Therefore, Emily should communicate the benefits of the partnership contract for Mr. Hamasaki and his current business rather than for both of them. This would help in developing interest in her Japanese counterpart in doing business with her. Thus, it can be argued that varying interest areas of the professionals belonging to a different culture is a potential area of miscommunication. Interest area also indicates whether the managers are more interested in facts or discussions/suggestions. Japan has highly masculine society, whereas Australia has feminine society (Hamamura, 2012). Managers in Masculine society are more assertive decision makers as compared to those in feminine society (Hofstede, 1980). T hus, talking about the way the partnership between Mr. Hamasaki and Emily can be enhanced might not be effective. Therefore, Emily needs to focus more on the facts and figures related to their prospective business partnership like percentage rise or decline in demand for the types of food products manufactured by Emily in Japan, common tastes of Japanese people etc. On the basis of facts and evidences, Emily would be required to ensure Mr. Hamasaki that it is certain that the partnership business would give positive returns of investments. This is because, Japan scores very high on uncertainty avoidance parameter that shows Japanese professionals are not willing to take risks and want to be certain about their future (Triandis, 1982). Inability to communicate the future prospect with respect to the partnership is certain might lead to miscommunication. Thus, it can be concluded that good amount of differences between Japan and Australia exist with respect to their culture and business etiquette. However, there is a scope for Emily to successfully expand her business in Japan, provided she ensures her understanding of the Japanese business culture References Asefeso, A., 2012. CEO Guide to Doing Business in Japan. UK: AA Global Sourcing Ltd. Evans, N., 2003. Context, culture, and structuration in the languages of Australia.. Annual review of anthropology, 32(1), pp.13-40. Fox, S., 2011. Business Etiquette For Dummies. USA: John Wiley Sons. Friedman, S., 2014. 6 Things You Need To Know About Doing Business In Japan. [Online] Available at: https://www.businessinsider.com/6-things-to-know-about-business-in-japan-2014-6?IR=T [Accessed 09 August 2017]. Hamamura, T., 2012. Are cultures becoming individualistic? A cross-temporal comparison of individualismcollectivism in the United States and Japan.. Personality and Social Psychology Review, 16(1), pp.3-24. He, R. Llu, J., 2010. Barriers of Cross Cultural Communication in Multinational firms. Thesis. Sweden: Halmstad School of Business and Engineering. Hofstede, G., 1980. Motivation, leadership, and organization: do American theories apply abroad?. Organizational dynamics, 9(1), pp.42-63. Hofstede, G., 1984. Cultural dimensions in management and planning.. Asia Pacific journal of management, 1(2), pp.81-99. Lee, S.M. Peterson, S.J., 2000. Culture, entrepreneurial orientation, and global competitiveness. Journal of world business, 35(4), pp.401-16. Offord, B. et al., 2015. Inside Australian Culture: Legacies of Enlightenment Values. New York: Anthem Press. Richardson, R.M. Smith, S.W., 2007. The influence of high/low-context culture and power distance on choice of communication media: Students media choice to communicate with professors in Japan and America.. International Journal of Intercultural Relations, 31(4), pp.479-501. Triandis, H.C., 1982. Dimensions of cultural variation as parameters of organizational theories.. International Studies of Management Organization, 12(4), pp.139-69.

The Beowulf Poet Reveals The Theme Of Loyal Dependency Essay Paper Example For Students

The Beowulf Poet Reveals The Theme Of Loyal Dependency Essay Paper When Warthogs gazes upon Grenades talon, when he praises Beowulf as the flower of manhood (942), and when he adopts Beowulf as his own son, the reader senses the importance of this symbol reflecting the interdependence necessary for survival in an Anglo-Saxon society. Hoarders loyalty to Beowulf is symbolized by the abundant gifts with which he rewards the young hero. By rewarding him with a wealth of wrought gold Two arm bangles, a mail-shirt and rings, (1192) Warthogs shows the extent that he values Beowulf actions as well as the amount of dependence that he places upon Beowulf to protect Horror, his people, and himself. The golden torque that is presented to Beowulf at the banquet following his extraordinary defeat of Greened is The most resplendent torque of gold (1194) and its meaning as a symbolic object deepens in that it was worn by Hugely on his last raid, (1203), thus showing the ongoing dependence upon the loyalty of kings to brave heroes as a means of protecting their kingdom. We will write a custom essay on The Beowulf Poet Reveals The Theme Of Loyal Dependency Paper specifically for you for only $16.38 $13.9/page Order now When, much later in life, Beowulf faces the dragon in the battle that is to be his end, all of his men defending the country alongside him flee when the outcome appears to turn in favor of the dragon. All except for one young thane, Wigwag, who stays to fight for Beowulf and his kingdom. Wigwag announces that, l would rather my body were robed in the same burning blaze as my gold-givers body than go back home bearing arms, (22651), thus giving the reader a strong sense of faithfulness and loyalty for the life of Beowulf, his king. The wound dealt by the dragon to Wigwams hand. His fighting hand was burned when he came to his kinsmans aid, (2697) symbolizes the willingness of Wigwag to sacrifice his own life and vitality for the sake of his leader and shows the reader the importance of protecting his kings life before his own. In offering his physical strength for the protection of his lord Wigwag finds a new strength welling up, (2878-2879) which demonstrates how he finds a sense of strength in protecting Beowulf and is thus dependent upon this loyal relationship to is lord. Wigwag sacrifices his own security and safety by obeying Beowulf last requests completely, staying beside him as Beowulf draws his last breath, and cleansing his lords battle-torn body which shows clearly the his desperate sense of interdependent loyalty upon his lord. Beowulf breathes his last breath as he then In his great-heartiness unclasped the collar of gold from his neck and gave it to the young thane (Wagtail (2809) Beowulf is keenly aware that his life is in its final stage. In bestowing upon Wigwag the resinous gift, which Warthogs had given to him out of loyalty, Beowulf is demonstrating his dependence upon Wigwams loyalty and protection in battle. Beowulf is placing a deep loyalty in Wigwag as an equal in battle when he shares with him the wide rim (shield) once his (Wigwams) own had shattered in sparks and ashes, (2675-2677). By declaring Wigwag as the last of us, the only one left of the Housewarmings (2813-2814) Beowulf, in a sense, adopts Wigwag as his son much the same as Warthogs does for him in the beginning of the poem. This vulnerable action enhances the readers awareness of what Wigwams loyalty to the death means to Beowulf. Wigwag means war survivor and Beowulf is now dependent upon his loyalty to carry on as the king and protector of the Seats. The Beowulf poet thoroughly permeates the theme of loyal dependency into the epic by showing through symbolism the great reliance of the Anglo-Saxon culture upon loyalty from one human to another. Through the relationships between lord and thane the epic shows that as long as there are leaders and followers willing to serve hem, there will be dependency upon the loyalty of each to the other. .ue32291af6c6878ef46a503d0b0359e57 , .ue32291af6c6878ef46a503d0b0359e57 .postImageUrl , .ue32291af6c6878ef46a503d0b0359e57 .centered-text-area { min-height: 80px; position: relative; } .ue32291af6c6878ef46a503d0b0359e57 , .ue32291af6c6878ef46a503d0b0359e57:hover , .ue32291af6c6878ef46a503d0b0359e57:visited , .ue32291af6c6878ef46a503d0b0359e57:active { border:0!important; } .ue32291af6c6878ef46a503d0b0359e57 .clearfix:after { content: ""; display: table; clear: both; } .ue32291af6c6878ef46a503d0b0359e57 { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .ue32291af6c6878ef46a503d0b0359e57:active , .ue32291af6c6878ef46a503d0b0359e57:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .ue32291af6c6878ef46a503d0b0359e57 .centered-text-area { width: 100%; position: relative ; } .ue32291af6c6878ef46a503d0b0359e57 .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .ue32291af6c6878ef46a503d0b0359e57 .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .ue32291af6c6878ef46a503d0b0359e57 .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .ue32291af6c6878ef46a503d0b0359e57:hover .ctaButton { background-color: #34495E!important; } .ue32291af6c6878ef46a503d0b0359e57 .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .ue32291af6c6878ef46a503d0b0359e57 .ue32291af6c6878ef46a503d0b0359e57-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .ue32291af6c6878ef46a503d0b0359e57:after { content: ""; display: block; clear: both; } READ: Beowulf: First Literary Superhero EssayLoyalty is one of the most important qualities a man can possess and its presence in a person elevates him from ordinary to heroic. Loyalty is a providing factor in the continuance of existence as it is demonstrated by the protection of life and reward for that protection. As a value of morality and a code of honor, loyal dependency is worth more than any material possession when harnessed and used for the good of mankind as Beowulf so clearly shows through the many examples presented here.

Essay on Farewell to Manzanar essays

Essay on Farewell to Manzanar essays An Essay on Farewell to Manzanar - 3/29/04 The year was 1942, and Pearl Harbor had recently been attacked by the Japanese military. The American society quickly changed from being peaceful and easy going, to courageously and violently patriotic, scared, confused, and potentially irrational. Not only was the U.S. in turmoil and war, but so was the rest of the world. World War II was raging on viciously, daily increasing death rates on both sides. Unfortunately though, World War II was not the only thing viciously raging on at that time; the hearts and emotions of the American people were turning against a minority within themselves, who they quickly began to hate. These people were the Japanese-Americans and the Japanese aliens, who had been dwelling in the U.S. long before the attack on Pearl Harbor. Jeanne Wakatsuki was one of the unfortunate victims and prisoners of the internment camps. She was seven years old when her life dramatically changed forever. Her father was suddenly arrested for no apparent reason, her house was vandalized, the familys boats and business was abducted by the government, people on the streets seemed to hate any person of Japanese dissent, and her family was forced to sell their beautiful, Ocean Park home and move into a run-down, Japanese ghetto for safety. After living, for a few months, in poor conditions and constant discomfort or fear, conditions became even worse. They were evacuated out of their homes by the military, and were sent on trucks or buses to one of the ten Japanese internment camps across the U.S. The Wakatsuki family was sent to Manzanar, a new and hurriedly built concentration camp in the middle of the barren deserts of southern California. With frequent dust storms, burning hot days, freezing cold nights, no vegetation or shrubbery whatsoever, and tiny, cramped, unhomely, and flimsy living quarters, Manzanar was depressing just to look at. Th...

Rhetorical analysis of Alicias Keys song If I Ain't Got You Essay

Rhetorical analysis of Alicias Keys song If I Ain't Got You - Essay Example The researcher states that the lyrics of a song are almost told in complete sentences and they are told in figures of speeches to better narrate what the artist wanted to tell in the song.   The first paragraph meant that people are now getting materialistic and vain that they only live for fortune, fame, power, game and physical things. The artist had been there and realized that these are empty endeavors because what matter is how beautiful the person is inside. This means that the artist only wanted the person that she loves because it is all that really matters in this world. The diamond rings are only symbolic of the superficiality that the song already detest that it really meant nothing. Alicia Keys only meant beauty as a vain basis for love when she wrote about the fountain that promises forever young. The roses and the silver platter are only a way to impress her but it is meaningless when it cannot be shared with the person she loves. The music video is the visual narrati ve of the song. In the opening scene of the video, there were men carrying a big piano which seems to have been bought by Alicia Keys fiancà © (while alternating with her playing the piano). The choice of piano and not other material things is symbolic that what matters most are what is inside which in this case, music and love as represented by the piano. Of course, she was delighted when she saw it and they kissed manifesting their love for each other. It can be observed that the apartment was empty except for the piano which figuratively explains that material things were not that important as told in the lyrics. Scenes displaying money and diamonds in a drawer were shown later inside a regular clothing drawer against the background â€Å"so full of superficial†. The succeeding scenes showed alternate of Alicia Keys singing and the lovers expressing their love for each other and how happy they are being together. It also showed the struggle of couples in the scene in the kitchen where they eventually argued with the man leaving.

Marketing Communications Plan and Presentation Essay

Marketing Communications Plan and Presentation - Essay Example Samsung are targeting low income category but Ipad still remains the market leader due to its high quality and high speed. Ipad needs to target companies in order for them to remain the market leader. Apple is focusing on increasing its Ipad sales and in the recent past it has opened outlets in other countries like China and Japan (Fill, 2002). Category After a survey, where five people were asked to compare Apple and other tablet manufacturers, apple was rated as the best in tablet manufacturing. The respondents said that apples products including the ipad were the best since they are able to meet almost all of their demands. Ipad has the highest processor speed of all the tablets in the market, the reason why it is the market leader. This is according to the respondents of the interview as seen in the appendix (Halborg, 2001). Benefit Most of the tablet customers are looking for speed, long battery life and an elegant and smart tablet for their day to day activities. Ipad is a uniq ue product in the market it gives its users all these. Ipad accessories are compatible with other hardware from other manufacturers therefore are easy to maintain and use as compared to other tablets in the market like the Samsung galaxy. Ipad take less time to boot compared to other products like windows tablets. Ipads are less prone to computer virus compared to others like the Samsung galaxy (Nash, 2000). IDU analysis Importance Importance refers to the significance of the benefits to the fundamental motivation. It is good to know that a benefit assumes importance if it motivates the consumer to purchase it. It is therefore the role of Apple to aggressively market its ipad product so as to remain a market leader and also help the consumer perceive the ipad as important in their life. The consumer should be convinced that the ipad will solve some if not all of his digital problems. Compared to other brands in the market, ipad is perceived as an important product in the market. Ipa d is seen as the most unique amongst the other tablets due to its unique features. From the survey, respondents said that ipad is important to them as it has a longer battery life compared with the Samsung galaxy (Schultz, 2000). Delivery This is the perception that the product, ipad, has the ability to provide the benefits to the consumer. Apple should convince its customers that ipad has the ability to fulfill the expected benefits. Ipad has successfully earned this perception as most of the respondents used in the survey said they preferred ipad to other brands in the market. Most of the respondents said ipad has a high ability to delivery as compared to Samsung galaxy and android (Shimp, 1993). Uniqueness This is the perception of a brand/product to deliver on the benefit relatively better than its substitutes. Ipad is definitely a unique brand in the market according to the respondents in the survey. Ipad has a longer life battery compared to android and Samsung galaxy. Ipad ta kes less time to boot as compared to the android and Microsoft tablet. Ipad is also less prone to virus compared to others tablets in the market. This uniqueness is a strong selling point for the ipad, and Apple should always endeavor to ensure that the ipad is always unique in the market (Tannenbaum, 1994). Positioning statement Product positioning involves creation and maintenance of a unique perception of a product in the customers mind; this will help in increasing the

The Horrors of U.X.Os

The Horrors of U.X.Os Hannah Chartier The Vietnam War is the second longest war in United States history. It began on August 7, 1964 when the U.S. congress passed a joint resolution to go to war against the Communist North Vietnamese. It ended on April 30, 1975 with the fall of Saigon. The Vietnamese government estimates that around 14m tonnes of ordnance, nearly three times that used by the Allies in the second world war, was dropped on Vietnam between 1959 and 1975. Between 10% and 30% of it failed to detonate (Cordall). No one really knows for sure how many undetonated bombs are still there because everyday more are discovered. Unfortunately, these undetonated bombs continue to maim and kill the inhabitants of North Vietnam, South Vietnam, Laos, and Cambodia. Unexploded Munitions pose a continuing obstacle to agriculture and a threat to children (Black). On September 6, 2016, President Barack Obama pledged $90 million to help with the removal of unexploded ordnances dropped during the Vietnam War. For almost fifty yea rs the U.S. ignored this problem. The United States military bombing tactics during the Vietnam War were unjust because these bombs continue to kill and injure ordinary people everyday. Clearing the undetonated ordinances left behind from the Vietnam War has never been a priority of the United States government. The U.S. government evacuated its last citizens and allies as quickly as possible to avoid the risk of casualties. It was the largest helicopter evacuation in history. The U.S. had lost the war, so it was not responsible for rebuilding the nations involved. No fewer than 119 countries have banned the use of cluster bombs, but the U.S. government still utilizes them to this day. Unexploded ordnances affect farmers the most in these post-war countries. The fields they farm are contaminated with cluster bomblets that were buried and forgotten. It is not unusual for a farmer to accidentally hit an unexploded ordnance with his/her shovel or hoe. The Guardian recently published a story about a Vietnamese farmer. Nguyen Dinh Thu was hoeing the small piece of land his parents had given him [when] he struck the unexploded U.S. military bomb that had lain undisturbed there for fifteen years (Cordall). When he awoke, he came round to find both his hands had been blown off and his face and legs were riddled with shrapnel which will stay inside him permanently (Cordall). His story is not unique Channapha Khamvongsa, the executive director of Legacies of War, has seen the horrors of the undetonated bombs in Laos. She was just a toddler when her parents left Laos for the United States. She has made it her mission to educate the world about the unexploded bombs in her home country of Laos. Eighty percent of people rely on their land to grow food in Laos. So they still use their land even at the risk of their own lives (Khamvongsa). Laos is one of the poorest countries in Eastern Asia. While most of the victims used to be farmers working their fields, these days, with more of the countryside cleared, those most at risk are scrap-metal scavengers, who cut up rusted bombs and shells in the hope of earning a few dollars (Black). About 40 percent of the accidents result in death and 60 percent of the victims are children. Also, (the bombies) are tennis ball sized weapons. The children often mistake the bombs for toys, and pick them up and throw them around. This is often the cause of an explosion (Khamvongsa). A typical example is A 13-year-old boy was killed in An My by an unexploded bomb four years ago as he played in his garden, and the shock waves still reverberate through this tiny community (Cordall). During the Vietnam War, the United States used bombs as a way of attacking the Vietnamese people and villages. It was a very poor decision because now, after the war, there are still bombs that continue to detonate every day, destroying the villages more and more. According to The New Yorker article written by George Black, Since the end of the war in 1975, more than forty thousand Vietnamese have been killed by U.X.O.

Germinated Peas Report

Matt Munet P3 Data: Temp (0 DegreesTime (min)Reading at time xDifferenceReading at time xDifferenceCorrected differenceReading at time xDifferenceCorrected difference 0. 85x. 67xX. 86XX 5. 84. 01. 38. 29. 28. 84. 2. 01 10. 83. 02. 2. 477. 45. 84. 2. 01 15. 84. 01. 05. 622. 61. 84. 2. 01 20. 84. 01. 005. 665. 655. 84. 02. 01 Respiration in Beads, Germinating Peas, and Dry Peas Using Respirometers Beads Alone Germinating Peas Dry Peas and Beads Time Interval (min)Rates (ml of O2/min) -5. 056 5-10. 002 10-15. 054 15-20. 002 Rates of Germinated Peas Rates of Dry Peas Time interval (min)Rates (ml of O2/min) 0-5. 032 5-10. 002 10-15. 009 15-200 The Rate of Respiration in Germinated and Dry Peas Within Respirometers essay writer account II. Discussion: In the lab with germinated and dry peas along with glass beads, determining the rate of respiration in each different type of seed was the goal. The hypothesis stated that since the germinated peas were still alive, they would contain a highe r rate of respiration needed to remain healthy compared to the dried peas and glass beads.Time was our independent variable and amount of 02 consumed was the dependent. The different types of beads were separated into separate respirometers where the rate of respiration was taken as time went from 5 to 10 to 15 to 20 minutes. Dye was used to measure the reading of each test subject as time went on. The data does correspond to the hypothesis due to the fact that we see an increase in 02 consumed as time goes on in germinated peas. It is assumed that dry peas would have a lower need for 02 consumed compared to germinated peas and the data represents this statement.The glass beads which are the control would not have a need for 02 consumption because they are not alive. The corrected difference (02 consumption) for the dry peas stayed at . 01 02 consumed/sec whereas as the germinated peas rose in 02 consumption as time went. They went from . 28 to . 45 to . 61 to . 665 02 consumed/min. Germinated peas had a corrected difference increasing as time went on supporting the hypothesis in the end. I would accept my hypothesis because it is assumed that germinated peas need more 02 than dry peas.This hypothesis corresponds with the data collected from the lab. The rates for the germinated peas show that the respiration rate is steadily increasing over time where as the dry peas remain almost exactly the same. In all the data supports the hypothesis that germinated seeds contain a higher rate of respiration. No errors occurred but many were avoided. A misread from the respirometers could have messed up data collection and collected differences. In addition, trying to see the reading on the respirometer could have forced some dye to seep from the tip, causing a misread.

Apple vs Samsung Patent Battle a Threat to Innovation

APPLE VS SAMSUNG PATENT BATTLE A THREAT TO INNOVATION Rather than innovate and develop its own technology and a unique Samsung style for its Smartphone product and computer tablets, Samsung choose to copy Apple's technology user interface and innovation style in these infringing products. Apple had accused Samsung of copying its intellectual property, including its very broad design patents for rectangular â€Å"electronic devices. And Apple wants to use those patents to stop its competitor from selling items like the new (rectangular) Galaxy tablet and (rectangular) Android-based Smartphone's.On Aug. 24, a San Jose jury awarded Apple Inc. a whopping $1. 05 billion in damages. Apple-Samsung jury: Verdict †¢The nine-person jury in the trial between the two tech-giants faces a wildly complex form to determine the winner. †¢SAN JOSE, Calif. — There is little doubt that the trial between Apple and Samsung taking place here is complex, and perhaps nowhere is that clearer than in the form that jurors will have to fill out on their way to reaching a verdict later this week. The document, which both sides have yet to agree on, is still in its draft stage. In Samsung's case, it's 33 questions long, and stretched across 17 pages. For Apple, it's 23 questions spread over nine pages. †¢Both forms ask jurors to check off which products infringe on specific patent claims, an exercise that includes going through charts that sometimes span several pages. On Apple's form there are some 225 checkboxes regarding patent infringement. The other parts of the verdict form ask slightly more nebulous questions, like whether claims within the patents from both sides are valid, and the all-important dollar amount that one side or the other is owed as a result of any infringements. †¢On the bright side, certain patent features are greyed out since not all products carry the identical feature set. That could be a welcome sight for the nine-person jury, who must reach a unanimous decision. Result †¢The jury award shows the growing importance of design for electronic makers. California jury awarded Apple $1. 05 billion in a patent dispute with Samsung. †¢The share price of Samsung electronics dropped nearly 7. 5 %in trading THREAT TO INNOVATION †¢Industry has used copyright as a means of preventing innovation. Copyright was a deliberate weapon to stop innovation, and thus maintain the status quo. The patent system is being used similarly †¢Whether the patent system prevents people like them from entering the market with their inventions is unknown. They are more than likely to continue working because they are optimists chasing a dream of seeing their invention realised; of being rich, or just creating something that serves a purpose. †¢The barriers to them achieving their goals for themselves and how they are shared to all must be removed. That means renovating the current system to enhance the opportunities for inn ovation. †¢It will require legislators with the will to change the rules and protocols in the face of opposition from vested interests. It is possible, but the motive may not originate from a wish to assist the corporation – like patents which were conceived to underwrite investments in innovation – but to serve the wider interests of society †¢Ã¢â‚¬ It will lead to fewer choices, less innovation, and potentially higher prices,† Samsung said in a written statement. †¢ â€Å"It is unfortunate that patent law can be manipulated to give one company a monopoly over rectangles with rounded corners, or technology that is being improved every day by Samsung and other companies. †¢Apple, meanwhile, praised the court for â€Å"sending a loud and clear message that stealing isn't right. † This highlights a central issue in today's innovation-based economy. †¢Intellectual property law is based on the notion that copying is bad for creativit y. It is usually cheaper to copy something than create something wholly new. If innovators are not protected against imitation, they will not invest in more innovation. †¢The real world, however, tells a different story. Imitation is at the centre of an enormous amount of innovation.Rules against copying are sometimes necessary. But in many cases, they serve to slow down innovation. Copying, in short, is often central to creativity. †¢How can copying be beneficial? Because it can enable as well as inhibit innovation. When we think of innovation, we usually picture a lonely genius toiling away until he or she finally has an â€Å"aha! † moment. †¢In fact, innovation is often an incremental, collective and competitive process. And the ability to build on existing creative work — to tweak and refine it — is critical to the creation of new and better things. Copying can also drive the process of invention, as competitors strive to stay ahead. AFFECTS ON CONSUMER †¢Consumers are the real loser in this verdict. †¢Consumers do not get Samsung accused products in U. S market. †¢Consumer confusion between products and functions. †¢Now consumer may not get better existing products for lower prices. BUSINESS LESSONS FROM APPLE VS SAMSUNG †¢INSPIRATION NOT IMITATION. †¢DELIGHT LEADS TO DESIGN AND NOT THE OTHER WAY ROUND. †¢DON'T MIMIC BUSINESS DNA. †¢WE ALL DO WRONG STUFF BUT IF YOU GET NOTICED AND WARNED BE SMART.

Study On The Determinants Of Financial Derivatives - Free Essay Example

Sample details Pages: 21 Words: 6230 Downloads: 3 Date added: 2017/06/26 Category Finance Essay Type Research paper Did you like this example? Introduction Our research article is à ¢Ã¢â€š ¬Ã…“Determinants of Financial Derivativesà ¢Ã¢â€š ¬?. Before moving towards the definition of main purpose and significance of our research article, we want to give a brief introduction of the core keywords of our research article which are à ¢Ã¢â€š ¬Ã…“Financial Derivativesà ¢Ã¢â€š ¬?. 1.1. Introduction A derivative is a financial instrument (or more simply, an agreement between two people/two parties) that has a value determined by the future price of something else. Derivatives can be thought of as bets on the price of something. Suppose you bet with your friend on the price of a bushel of corn. If the price in one year is less than $3 your friend pays you $1. If the price is more than $3 you pay your friend $1. Thus, the underlying in the agreement is the price of corn and the value of the agreement to you depends on that underlying.[1] So derivatives are the collective name used for a broad class of financial instruments that derive their value from other financial instruments (known as the underlying), events or conditions. Essentially, a derivative is a contract between two parties where the value of the contract is linked to the price of another financial instrument or by a specified event or condition. Derivatives are usually broadly categorized by the: Relationsh ip between the underlying and the derivative (e.g. forward, option, swap) Type of underlying (e.g. equity derivatives, foreign exchange derivatives, interest rate derivatives, commodity derivatives or credit derivatives) Market in which they trade (e.g., exchange traded or over-the-counter) Pay-off profile (Some derivatives have non-linear payoff diagrams due to embedded optionality) Another arbitrary distinction is between: Vanilla derivatives (simple and more common) and Exotic derivatives (more complicated and specialized) There is no definitive rule for distinguishing one from the other, so the distinction is mostly a matter of custom. Derivatives are used by investors to Provide leverage or gearing, such that a small movement in the underlying value can cause a large difference in the value of the derivative Speculate and to make a profit if the value of the underlying asset moves the way they expect (e.g. moves in a given direction, stays in or ou t of a specified range, reaches a certain level) Hedge or mitigate risk in the underlying, by entering into a derivative contract whose value moves in the opposite direction to their underlying position and cancels part or all of it out Obtain exposure to underlying where it is not possible to trade in the underlying (e.g. weather derivatives) Create optionability where the value of the derivative is linked to a specific condition or event (e.g. the underlying reaching a specific price level) Don’t waste time! Our writers will create an original "Study On The Determinants Of Financial Derivatives" essay for you Create order Uses Hedging Hedging is a technique that attempts to reduce risk. In this respect, derivatives can be considered a form of insurance. Derivatives allow risk about the price of the underlying asset to be transferred from one party to another. For example, a wheat farmer and a miller could sign a futures contract to exchange a specified amount of cash for a specified amount of wheat in the future. Both parties have reduced a future risk: for the wheat farmer, the uncertainty of the price, and for the miller, the availability of wheat. However, there is still the risk that no wheat will be available because of events unspecified by the contract, like the weather, or that one party will renege on the contract. Although a third party, called a clearing house, insures a futures contract, not all derivatives are insured against counter-party risk. From another perspective, the farmer and the miller both reduce a risk and acquire a risk when they sign the futures contract: The farmer reduces the risk that the price of wheat will fall below the price specified in the contract and acquires the risk that the price of wheat will rise above the price specified in the contract (thereby losing additional income that he could have earned). The miller, on the other hand, acquires the risk that the price of wheat will fall below the price specified in the contract (thereby paying more in the future than he otherwise would) and reduces the risk that the price of wheat will rise above the price specified in the contract. In this sense, one party is the insurer (risk taker) for one type of risk, and the counter-party is the insurer (risk taker) for another type of risk. Hedging also occurs when an individual or institution buys an asset (like a commodity, a bond that has coupon payments, a stock that pays dividends, and so on) and sells it using a futures contract. The individual or institution has access to the asset for a specified amount of time, and then can sell it in the future at a specified price according to the futures contract. Of course, this allows the individual or institution the benefit of holding the asset while reducing the risk that the future selling price will deviate unexpectedly from the markets current assessment of the future value of the asset. Derivatives traded at the Chicago Board of Trade. Derivatives serve a legitimate business purpose. For example, a corporation borrows a large sum of money at a specific interest rate.[2] The rate of interest on the loan resets every six months. The corporation is concerned that the rate of interest may be much higher in six months. The corporation could buy a forward rate agreement (FRA). A forward rate agreement is a contract to pay a fixed rate of interest six months after purchases on a notional sum of money.[3] If the interest rate after six months is above the contract rate the seller pays the difference to the corporation, or FRA buyer. If the rate is lower the corporation would pay the difference to the seller. The purchase of the FRA would serve to reduce the uncertainty concerning the rate increase and stabilize earnings. Speculation and arbitrage Derivatives can be used to acquire risk, rather than to insure or hedge against risk. Thus, some individuals and institutions will enter into a derivative contract to speculate on the value of the underlying asset, betting that the party seeking insurance will be wrong about the future value of the underlying asset. Speculators will want to be able to buy an asset in the future at a low price according to a derivative contract when the future market price is high, or to sell an asset in the future at a high price according to a derivative contract when the future market price is low. Individuals and institutions may also look for arbitrage opportunities, as when the current buying price of an asset falls below the price specified in a futures contract to sell the asset. Speculative trading in derivatives gained a great deal of notoriety in 1995 when Nick Leeson, a trader at Barings Bank, made poor and unauthorized investments in futures contracts. Through a combination of poo r judgment, lack of oversight by the banks management and by regulators, and unfortunate events like the Kobe earthquake, Leeson incurred a $1.3 billion loss that bankrupted the centuries-old institution. Types of derivatives OTC and Exchange-traded Broadly speaking there are two distinct groups of derivative contracts, which are distinguished by the way they are traded in the market: Over-the-counter (OTC) derivatives are contracts that are traded (and privately negotiated) directly between two parties, without going through an exchange or other intermediary. Products such as swaps, forward rate agreements, and exotic options are almost always traded in this way. The OTC derivative market is the largest market for derivatives, and is largely unregulated with respect to disclosure of information between the parties, since the OTC market is made up of banks and other highly sophisticated parties, such as hedge funds. Reporting of OTC amounts are difficult because trades can occur in private, without activity being visible on any exchange. According to the Bank for International Settlements, the total outstanding notional amount is $684 trillion (as of June 2008).[5] Of this total notional amount, 67% are interest rate contra cts, 8% are credit default swaps (CDS), 9% are foreign exchange contracts, 2% are commodity contracts, 1% are equity contracts, and 12% are other. Because OTC derivatives are not traded on an exchange, there is no central counter-party. Therefore, they are subject to counter-party risk, like an ordinary contract, since each counter-party relies on the other to perform. Exchange-traded derivative contracts (ETD) are those derivatives instruments that are traded via specialized derivatives exchanges or other exchanges. A derivatives exchange is a market where individualsà ¢Ã¢â€š ¬Ã¢â€ž ¢ trade standardized contracts that have been defined by the exchange. A derivatives exchange acts as an intermediary to all related transactions, and takes Initial margin from both sides of the trade to act as a guarantee. The worlds largest derivatives exchanges (by number of transactions) are the Korea Exchange (which lists KOSPI Index Futures Options), Eurex (which lists a wide range of Europea n products such as interest rate index products), and CME Group (made up of the 2007 merger of the Chicago Mercantile Exchange and the Chicago Board of Trade and the 2008 acquisition of the New York Mercantile Exchange). According to BIS, the Scombined turnover in the worlds derivatives exchanges totaled USD 344 trillion during Q4 2005. Some types of derivative instruments also may trade on traditional exchanges. For instance, hybrid instruments such as convertible bonds and/or convertible preferred may be listed on stock or bond exchanges. Also, warrants (or rights) may be listed on equity exchanges. Performance Rights, Cash xPRTs and various other instruments that essentially consist of a complex set of options bundled into a simple package are routinely listed on equity exchanges. Like other derivatives, these publicly traded derivatives provide investors access to risk/reward and volatility characteristics that, while related to an underlying commodity, nonetheless are distinct ive. Common derivative contract types There are three major classes of derivatives: Futures/Forwards are contracts to buy or sell an asset on or before a future date at a price specified today? A futures contract differs from a forward contract in that the futures contract is a standardized contract written by a clearing house that operates an exchange where the contract can be bought and sold, while a forward contract is a non-standardized contract written by the parties themselves. Options are contracts that give the owner the right, but not the obligation, to buy (in the case of a call option) or sell (in the case of a put option) an asset. The price at which the sale takes place is known as the strike price, and is specified at the time the parties enter into the option. The option contract also specifies a maturity date. In the case of a European option, the owner has the right to require the sale to take place on (but not before) the maturity date; in the case of an American option, the owner can require the sale to take place at any time up to the maturi ty date. If the owner of the contract exercises this right, the counter-party has the obligation to carry out the transaction. Swaps are contracts to exchange cash (flows) on or before a specified future date based on the underlying value of currencies/exchange rates, bonds/interest rates, commodities, stocks or other assets. More complex derivatives can be created by combining the elements of these basic types. For example, the holder of a swaption has the right, but not the obligation, to enter into a swap on or before a specified future date. 1.2. PROBLEM STATEMENT: The problem statement on which we are doing research is as follows: What are the Determinants that define the activities towards Financial Derivatives? 1.3. OBJECTIVE OF THE STUDY: The main objective of our research is that which one of this independent variable like Risk, Yield Spread etc affects the financial derivatives the most or which one of the following indicates the most involvement in financial derivative. 1.4. Limitations:- There are few limitations which are as under. The data which we are considering is only from Islamabad stock exchange. Out of numerous variables we have selected only four. 1.5. Plan:- Rest of the thesis is organized as fallows. In chapter II we have produced a literature review. In chapter III Data is collected and statistical tools are applied. In chapter IV the results are interpreted. In chapter V conclusions and recommendations are given. Chapter II Literature Review Credit derivatives and risk aversion in this article author discuss the valuation of credit derivatives in extreme regimes such as when the time-to-maturity is short, or when payoff is contingent upon a large number of defaults, as with senior trenches of collateralized debt obligations. In these cases, risk aversion may play an important role, especially when there is little liquidity, and utility-indifference valuation may apply. Specifically, we analyze how short-term yield spreads from default able bonds in a structural model may be raised due to investor risk aversion. Using derivatives to manage risk this Refers to some well-publicized failures with derivatives, and seeks explanations for these problems; points to the role of the US treasury department as a profit centre, and presents a three-phase risk management framework for the successful use of derivatives risk identification/determination of the desired risk profile, implementation (to include factors such as the rol e of the board in the co-ordination of resources), evaluation/feedback. Shows how three celebrated cases of derivatives fiasco failed in respect of various aspects of this framework (these being Gibson Greetings, Procter Gamble and Metallgesellschaft AG). Petersen and Thiagarajan (2000) Estimates and compares the risk exposure of two firms operating in the gold mining industry. Suggests that the difference between the two firms lies in the risks that they choose to manage and the tools that they use. It presents an extensive analysis of the building blocks underlying the effects of risk management including operating cash flows, taxable income, investment opportunities and equity risk exposure. Shows how one uses adjustments to the quality of ore extracted as a partial hedge against gold price fluctuations, whilst the other uses derivatives to reduce the fluctuations in its revenues and therefore operating cash flows. Comments on the incentives for risk reduction and their effec t on the management of gold price risk, noting that compensation strategies can lead to differing managerial objectives. Argues that the use of alternative forms of risk management is a conscious choice by firms and that the use of derivatives should be seen against the alternative tools available. Alister and Mansfield (1980) states that Derivatives have been an expanding and controversial feature of the financial markets since the late 1980s. They are used by a wide range of manufacturers and investors to manage risk. This paper analyses the role and potential of financial derivatives investment property portfolio management. The limitations and problems of direct investment in commercial property are briefly discussed and the main principles and types of derivatives are analysed and explained. The potential of financial derivatives to mitigate many of the problems associated with direct property investment is examined. The management of foreign currency risk: derivatives us e and the natural hedge of geographic diversification Summer 1999 Notes the lack of evidence of large companies use of foreign exchange derivatives (FXDs), related to the geographical diversification natural hedge, an alternative method of avoiding risk. Builds a model of company behavior, sampling 309 US companies by industry, including FXD, foreign sales, a sales-based Herfindahl index, and market value. Finds a significant and positive relationship between the use of FXDs and the level of foreign exchange exposure; and a negative relationship between geographic dispersion and FXD. Shows that there are economies of scale in FXD use, and that the findings are robust to industry membership and geographic diversification. Emory presents evidence consistent with managers using derivatives and discretionary accruals as partial substitutes for smoothing earnings. Using 1994-1996 data for a sample of Fortune5 00 firms, I estimate a set of simultaneous equations that captures managers incentives to maintain a desired level of earnings volatility through hedging and accrual management. These incentives include increasing managerial compensation and wealth, reducing corporate income taxes and debt financing costs, avoiding underinvestment and earnings surprises, and mitigating volatility caused by low diversification. After controlling for such incentives, I find a significant negative association between derivatives notional amounts and proxies for the magnitude of discretionary accruals. Gay and Nam analyzed the underinvestment problem as a determinant of corporate hedging policy. We find evidence of a positive relation between a firmà ¢Ã¢â€š ¬Ã¢â€ž ¢s derivatives use and its growth opportunities, as proxied by several alternative measures. For firms with enhanced investment opportunities, derivatives use is greater when they also have relatively low cash stocks. Firms whose investment expenditures are positively correlated with internal cash flows tend to have smaller derivatives positions, which suggest potential natural hedges. Our findings support the argument that firmsà ¢Ã¢â€š ¬Ã¢â€ž ¢ derivatives use may partly be driven by the need to avoid potential underinvestment problems. Patil (2008) states that the Reserve Bank of Indias Working Group on Rupee Derivatives has, interalia, recommended introduction of exchange traded derivatives to supplement OTC derivatives. But before we introduce exchange traded interest rates futures it is necessary to be fully aware of the ground realities. The basic issue is the healthy development of the market and abolition of the regulations that artificially protect the interests of a set of intermediaries whose role and functions have got significantly reduced with massive induction of IT applications into the capital and financial markets. Regulatory reforms should facilitate continuous reduction in transaction costs and up gradation of transactional efficiency across different segments of the market. A regulatory regime that ends up protecting the role of certain players merely because they played a useful role in the past in the development of some segments of the markets would be doing a disservice Hentschel and Kothari makes Public discussion about corporate use of derivatives focuses on whether firms use derivatives to reduce or increase firm risk. In contrast, empirical academic studies of corporate derivatives use take it for granted that firms hedge with derivatives. Using data from financial statements of 425 large U.S. corporations, we investigate whether firms systematically reduce or increase their riskiness with derivatives. We find that many firms manage their exposures with large derivatives positions. Nonetheless, compared to firms that do not use financial derivatives, firms that use derivatives display few, if any, measurable differences in risk that are associated with the use of derivatives. Brinson, Randolph Hood and Beebower (1986), states that in order to delineate investment responsibility and measure performance contribution, pension plan sponsors and investment managers need a clear and relevant method of attributing returns to those activities that compose the investment management process- investment policy, market timing and security selection. The authors provide a simple framework based on a passive, benchmark portfolio representing the plans long-term asset classes, weighted by their long-term allocations. Returns on this investment policy portfolio are compared with the actual returns resulting from the combination of investment policy plus market timing (over or underweighting asset classes relative to the plan benchmark) and security selection (active selection within an asset class). Data from 91 large U.S. pension plans over the 1974-83 period indicate that investment policy dominates investment strategy (market timing and security selection), explaining on average 93.6 per cent of the variation in tota l plan return. The actual mean average total return on the portfolio over the period was 9.01 per cent, versus 10.11 per cent for the benchmark portfolio. Active management cost the average plan 1.10 per cent per year, although its effects on individual plans varied greatly, adding as much as 3.69 per cent per year. Although investment strategy can result in significant returns, these are dwarfed by the return contribution from investment policy-the selection of asset classes and their normal weights. Markides (1995) concluded that there is increasing evidence (especially in the business press) that over the past decade, many U.S. corporations have restructured. For example, Lewis (1990: 43) estimates that nearly half of large U.S. corporations have restructured in the 1980s. Similarly, a special report on corporate restructuring published in the Wall Street Journal (1985: 1) found that out of the 850 of North Americas largest corporations, 398 (47%) of them restructured. A major problem with many of these studies on restructuring is that they do not define exactly what is meant by restructuring. Corporate actions such as share repurchasing, refocusing, alliances, consolidations and leveraged recapitalizations can all fall under the general term restructuring; therefore, a researcher needs to look at these forms of restructuring separately if any generalizations are to be made. In this study, we focus on one specific type of restructuring, namely corporate refocusing. By this we mean the voluntary or involuntary reduction in the diversification of U.S. firms-usually, but not necessarily, achieved through major divestitures-what Bhagat, Shleifer, and Vishny (1990) call the return to corporate specialization. We focus on this type of restructuring because according to the existing evidence it is by far the most common and most beneficial form of restructuring undertaken by firms (e.g., Lewis, 1990; Wall Street Journal, 1985). According to existing evidence , a significant proportion of major diversified firms in the U.S. have reduced their diversification in the 1980s by refocusing on their core businesses (for statistical evidence, see Lichtenberg, 1990; Mark- ides, 1990; Porter, 1987; Williams, Paez and Sanders, 1988). For example, Markides (1993) reported that at least 20 percent and as many as 50 percent of the Fortune 500 firms refocused in the period 1981-87. He also found that refocusing is a 1980s phenomenon: using the Rumelt (1974) strategic categories of diversification, he reported that whereas only 1 percent of the Fortune 500 firms were refocusing in the 1960s, more than 20 percent were doing so in the 1980s. Other studies have shown that these refocusing firms are characterized by high diversification and poor profitability relative to their industry counter- parts, and that refocusing is associated ex-ante with improved stockmarket value (e.g., Comment and Jarrell, 1991; Markides, 1992a,b; Montgom- ery and Wilson, 1986) . Yet, as Shleifer and Vishny (1991: 54) argue, there is very little ex- post evidence that refocusing is associated with profitability improvements. Doukas and Lang In this study they present evidence that geographic diversification increases shareholder value and improves long-term performance when firms engage in core-related foreign direct (greenfield) investments. Non-core-related foreign investments are found to be associated with both short-term and long-term losses. Our results suggest that the synergy gains stemming from the internalization of markets are rooted in the core business of the firm. Geographic diversification outside the core business of the firm bears strongly against the prediction of the internalization hypothesis. The analysis also shows that, regardless of the industrial structure of the firm (that is, number of segments), foreign direct investments outside the core business of the firm are associated with a loss in shareholder value, whereas core-relat ed (focused) foreign direct investments are found to be value increasing. Unrelated international diversification, however, is less harmful for diversified (multi- segment) than specialized (single-segment) firms. The larger gains to diversified firms suggest that operational and internal capital market efficiency gains are considerably greater in multi-segment than single-segment firms when both expand their core business overseas. James and Finkelshtain (1965) said the effects of multivariate risk are examined in a model of portfolio choice. The conditions under which portfolio choices are separable from consumption decisions are derived. Unless the appropriate restrictions hold on investors preferences or on the probability distribution of risks, the optimal portfolio is affected by other risks. This requires generalizing the usual measures of risk aversion. With one risky asset, matrix measures of risk aversion are used to generalize the results of Arrow (1965) and Pratt (196 4) concerning the effects of risk aversion and wealth on the optimal portfolio. With two risky assets, the choices made by two investors coincide if and only if their generalized risk-aversion measures are identical. Rosss notion of stronger risk aversion is then used to characterize the effect of risk aversion on the level of investment in the riskier asset. Browne (2000) tells us that Active portfolio management is concerned with objectives related to the out performance of the return of a target benchmark portfolio. In this paper, we consider a dynamic active portfolio management problem where the objective is related to the tradeoff between the achievement of performance goals and the risk of a shortfall. Specifically, we consider an objective that relates the probability of achieving a given performance objective to the time it takes to achieve the objective. This allows a new direct quantitative analysis of the risk/return tradeoff, with risk defined directly in terms of pr obability of shortfall relative to the bench- mark, and return defined in terms of the expected time to reach investment goals relative to the benchmark. The resulting optimal policy is a state-dependent policy that provides new insights. As a special case, our analysis includes the case where the investor wants to minimize the expected time until a given performance goal is reached subject to a constraint on the shortfall probability. On the basis of this literature review we have developed the following Theoretical framework. 2.2. THEORATICAL FRAMEWORK: The importance of: Risk_ Response Index Yield Spread_ Response Index Liquidity_ Response Index Geographical Diversification_ Response Index Financial Derivatives (Swap, Option, Future and Forward Contracts) For 2.3 Hypothesis: H0:  µ 3.5 H1:  µ à ¢Ã¢â‚¬ °Ã‚ ¥ 3.5 If the mean respondent is 3.5 or above it means the factor is important because at the rating scale 1 is for strongly disagree and 5 is for strongly agree. Chapter III Data and Methodology 3.1. NATURE OF STUDY: This study was descriptive in nature and will describe the Risk, Yield spread, Liquidity, Geographical diversification in the term of determinants of Financial Derivatives. The study setting for this study is non-contrived in nature i.e. it was conducted in the normal work place and routine working conditions. 3.2. PRIMARY DATA COLLECTION: Data for this study was collected from the participants of the Islamabad Stock Exchange. These people were working or participating in the stock exchange where the people had knowledge about risk, yield spread, liquidity and geographical diversification. That is why; it was easier for us to conduct our research in Islamabad Stock Exchange to conclude our results that which one of the following factors like risk, yield spread, liquidity, and geographical diversification shows the maximum involvement in the determining of financial derivatives. 3.3. RESPONDENTS OF RESEARCH: Data were collected from 100 participants. Participants were asked to fill the questionnaire which was helpful to lead us towards the result and conclusion of our research. All participants were asked to write down on the questionnaire their gender and age. 3.4. RESEARCH INSTRUMENT: Questionnaire is an efficient data collection mechanism where we know exactly what is required and measures the variables of interest. Questionnaires were made with enough number of questions covering all the related areas. This helped us to conclude our result by measuring the affect of determinants on financial derivatives. Questionnaires were personally handed over to the participants by us. All surveys were completed during working hours. Respondents were guaranteed that their data would remain confidential. Respondents were instructed to indicate their opinions about the questions to rate on a Likert Scale. This scale was designed to examine how strongly respondents agree or disagree with statements on a 5-points scale with the following anchors; 1 2 3 4 5 Strongly Disagree Disagree Neutral Agree Strongly Agree 3.5. DATA INTERPRETATION: Statistical tools were used for the interpretation of data. These tools included t-test, correlation and descriptive statistics to find the involvement of independent variables in determining the financial derivatives. In other words, statistical tool of correlation were applied to interpret the relationship between the indexes of independent variables and t-test was used to determine the involvement of independent variable in determining the financial derivatives. The total data was divided into two halves: Participants Below median age (39 and below) Participants above median age (above 39) We have applied sample mean test at  µ=3.5. Chapter IV Findings R1: Risky nature of instrument is not a matter of concern for me. R2: Since high risk means high return therefore I will shift to the risky securities. R3: Would you shift from one stock to another to reduce risk at the cost of return? R4: It is feasible to add a percentage of low risk securities to a portfolio. L1: Is a highly liquid security attractive to an investor L2: The stocks in which you trade are relatively liquid which attracts you towards them. L3: Liquidity reflects the performance of a firm therefore for diversification it is important Y1: Yield spread helps the investor to determine which security would be the better investment. Y2: Change in demand supply of the securities effect the yield spread change therefore I shift towards low yield spread. Y3: The market is forecasting a greater risk of default which implies a slowing economy (narrowing of spreads between bonds of different risk ratings) G1: Geographical diversification increase s the potential return on your investment / portfolio. G2: Geographical diversification allows combining a diversification across domestic and foreign securities. JUNIOR: Risk:  R1 R2 R3 R4 T cal -3.21 -0.77 -3.24 -2.12 T tab 2 2 2 2 Mean 2.96 3.38 3.1 3.2 Standard deviation 1.18 1.09 0.86 0.99 In case of R1, H0 is accepted it implies people do not consider this factor as important determinant of financial derivative. In case of R2, H0 is accepted it implies people do not consider this factor as important determinant of financial derivative. In case of R3, H0 is accepted it implies people do not consider this factor as important determinant of financial derivative. In case of R4, H0 is accepted it implies people do not consider this factor as important determinant of financial derivative. Liquidity:  L1 L2 L3 T cal 1.94 -0.69 -0.28 T tab 2 2 2 Mean 3.76 3.42 3.46 Standard deviation 0.94 0.81 0.99 In case of L1, H0 is accepted it implies people do not consider this factor as important determinant of financial derivative. In case of L2, H0 is accepted it implies people do not consider this factor as important determinant of financial derivative. In case of L3, H0 is accepted it implies people do not consider this factor as important determinant of financial derivative. Yield spread:  Y1 Y2 Y3 T cal 0.13 -1.19 -2.60 T tab 2 2 2 Mean 3.52 3.32 3.14 Standard deviation 1.05 1.06 0.97 In case of Y1, H0 is accepted it implies people do not consider this factor as important determinant of financial derivative. In case of Y2, H0 is accepted it implies people do not consider this factor as important determinant of financial derivative. In case of Y3, H0 is accepted it implies people do not consider this factor as important determinant of financial derivative. Geographical Diversification:  G1 G2 T cal 0.32 -0.92 T tab 2 2 Mean 3.54 3.36 Standard deviation 0.89 0.92 In case of G1, H0 is accepted it implies people do not consider this factor as important determinant of financial derivative. In case of G2, H0 is accepted it implies people do not consider this factor as important determinant of financial derivative. SENIOR: Risk:  R1 R2 R3 R4 T cal -3.44 -2.68 0 5.06 T tab 2 2 2 2 Mean 2.56 3.02 3.5 4.2 Standard deviation 1.51 1.25 1.02 0.97 In case of R1, H0 is accepted it implies people do not consider this factor as important determinant of financial derivative. In case of R2, H0 is accepted it implies people do not consider this factor as important determinant of financial derivative. In case of R3, H0 is accepted it implies people do not consider this factor as important determinant of financial derivative. In case of R4, H0 is rejected it implies people consider this factor as important determinant of financial derivative. Liquidity:  L1 L2 L3 T cal 3.95 3.59 1.78 T tab 2 2 2 Mean 4.08 3.98 3.74 Standard deviation 1.03 0.94 0.94 In case of L1, H0 is rejected it implies people consider this factor as important determinant of financial derivative. In case of L2, H0 is rejected it implies people consider this factor as important determinant of financial derivative. In case of L3, H0 is accepted it implies people do not consider this factor as important determinant of financial derivative. Yield spread:  Y1 Y2 Y3 T cal 3.94 -3.16 -0.92 T tab 2 2 2 Mean 3.86 3.1 3.34 Standard deviation 0.64 0.89 1.22 In case of Y1, H0 is rejected it implies people consider this factor as important determinant of financial derivative. In case of Y2, H0 is accepted it implies people do not consider this factor as important determinant of financial derivative. In case of Y3, H0 is accepted it implies people do not consider this factor as important determinant of financial derivative. Geographical Diversification:  G1 G2 T cal 1.75 5.56 T tab 2 2 Mean 3.72 4.02 Standard deviation 0.88 0.65 In case of G1, H0 is accepted it implies people do not consider this factor as important determinant of financial derivative. In case of G2, H0 is rejected it implies people consider this factor as important determinant of financial derivative. Junior: Correlations R_Index L_Index Y_Index G_Index R_Index Pearson Correlation 1 .310* .002 .163 Sig. (2-tailed) .029 .991 .257 N 50 50 50 50 L_Index Pearson Correlation .310* 1 .366** .326* Sig. (2-tailed) .029 .009 .021 N 50 50 50 50 Y_Index Pearson Correlation .002 .366** 1 .616** Sig. (2-tailed) .991 .009 .000 N 50 50 50 50 G_Index Pearson Correlation .163 .326* .616** 1 Sig. (2-tailed) .257 .021 .000 N 50 50 50 50 *. Correlation is significant at the 0.05 level (2-tailed). In this table above: Association between R_Index and L_Index is 31% which shows a medium relationship. Association between R_Index and Y_Index is 2% which shoes a weak relationship. Association between R_Index and G_Index is 16% which shows a weak relationship Association between L_Index and Y_Index is 36% which shows a medium relationship. Association between L_Index and G_ndex is 32% which shows a medium relationship. Association between Y_Index and G_Index is 61% which shows relatively significant relationship. Senior: Correlations R_Index L_Index Y_Index G_Index R_Index Pearson Correlation 1 .605** .240 .423** Sig. (2-tailed) .000 .093 .002 N 50 50 50 50 L_Index Pearson Correlation .605** 1 .219 .689** Sig. (2-tailed) .000 .126 .000 N 50 50 50 50 Y_Index Pearson Correlation .240 .219 1 .068 Sig. (2-tailed) .093 .126 .640 N 50 50 50 50 G_Index Pearson Correlation .423** .689** .068 1 Sig. (2-tailed) .002 .000 .640 N 50 50 50 50 *. Correlation is significant at the 0.05 level (2-tailed). In this table above: Association between R_Index and L_Index is 60% which shows a medium relationship. Association between R_Index and Y_Index is 24% which shows weak relationship. Association between R_Index and G_Index is 42% which shows a medium relationship. Association between L_Index and Y_Index is 21% which shows weak relationship. Association between L_Index and G_ndex is 68% which shows relatively significant relationship. Association between Y_Index and G_Index is 6% which shows relatively significant relationship. Descriptive Statistics: (junior) Descriptive Statistics N Minimum Maximum Mean Std. Deviation R_Index 50 2 4 3.16 .584 L_Index 50 2 5 3.55 .689 Y_Index 50 1 5 3.33 .812 G_Index 50 1 5 3.45 .835 Valid N (listwise) 50 Descriptive Statistics: (Senior) Descriptive Statistics N Minimum Maximum Mean Std. Deviation R_Index 50 2 5 3.57 .530 L_Index 50 2 5 3.93 .765 Y_Index 50 2 5 3.43 .664 G_Index 50 2 5 3.87 .596 Valid N (listwise) 50 Chapter V Conclusion and Recommendations: Conclusion: This research was mainly conducted to assess the indication of the involvement of Risk, Yield Spread, Liquidity and Geographical Diversification on Financial Derivatives. The influence of these four independent variables was examined. Data was collected by questionnaires which were given or distributed in the Islamabad Stock Exchange participants. We have used the sample mean test (t-test) to find the major influence of these four Risk, Yield Spread, Liquidity and Geographical Diversification on Financial Derivatives. From this study we can conclude that in case of juniors none of these four factors affects majorly in the determination of financial derivatives. While in the case of seniors not fully but partially all factors are important in the determination of financial derivatives. That means the senior investors just look the factors in determining or doing diversification. In Pakistani market these factors play some role because here the market is manipulated my big investo rs, the market rates or index is influenced by the speculations in the market. So by this we concluded that the seniors do consider these factors the reason for diversification in Pakistani Market. 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