Impact Of The Latest Advances In Technology On Recruitment And Selection

ABSTRACT In the face of a new era of downsizing, garnering of qualified workforce remains a key organizational goal. A commonly held view among the human resource managers is that the human resources are the most important assets of an organization and that they offer the only non-imitative competitive edge. As the point of entry, the process of recruitment and selection of employees plays a crucial role in enhancing the success and survival of the organization in the extremely competitive and turbulent business environment. This paper explores on how the latest advances in technology have impacted on the process of recruitment and selection of employees. Different aspects of the use of new technology will be examined including internet based recruitment, telephone and video conferencing, computer based testing and IVR or Automated telephone interviewing. This will include an overview of the potential advantages as well as challenges arising with the use of each wave of technology. INTRODUCTION In the face of a new era of downsizing, garnering of qualified workforce remains a key organizational goal (Bauer 2004). As the point of entry, the process of recruitment and selection of employees plays a crucial role in enhancing the success and survival of the organization in the extremely competitive and turbulent business environment. Traditionally, the recruitment and selection process relied on fairly low-tech methods such as employee referrals and newspaper ads, in locating and attracting qualified candidates (Lievens, et.al 2002). Successful job seeking included frequenting the local job center (Lievens, et.al 2002). This has however changed over the past few decades as a result of advances in technology. The recruitment process, just like all other business functions, has become increasingly tied to technology (Lievens, et.al 2002). The common practice of mailing applications and waiting to be called for an interview via a phone call has been trumped by technological advances which have eased communication. Technological advances such as internet-based recruitment and candidate assessment, computer-based testing, Interactive Voice Response (IVR), telephone and video-based interviews among other information technologies are now increasingly being used in recruiting and selecting qualified candidates (Chapman & Webster 2003). In this paper, we examine how the latest advances in technology have impacted on the process of recruitment and selection of employees. The following sections will explore on these technological advances, in particular, how they are impacting on recruitment and selection process. This will include an overview of the potential advantages as well as challenges arising with the use of each wave of technology. We begin by exploring on internet based recruitment, which involves recruitment via the web.a. INTERNET BASED RECRUITMENTThe most popular ways through which advances in technology have significantly impacted on recruitment and selection is through the internet. Organizations are increasingly making use of the internet technology, particularly the World Wide Web, as a platform for testing and recruiting potential candidates (Baron & Austin, 2000). Social networking websites, software and online job boards has helped in linking applicants to hiring professionals with focus on knowled ge, skills and abilities (Baron & Austin, 2000). Social networking sites such as LinkedIn, CareerBuilder, monster.com and universe.jobs hold millions of jobs and resumes in their databases (Neil 2003). These professional networking sites play a significant role in the process of recruitment and selection. LinkedIn, for example, is used as a business-oriented social networking site whereby applicants are linked with the employers. LinkedIn is widely used globally as a professional network service and has currently 90 million users (Neil 2003). It is currently valued at over $2.51 billion USD and operates in more than 200 countries (Neil 2003). Advances in technology have indeed shaped the process of recruitment and selection. Online ads are now the lead recruitment methods employed by employers. Recruitment and selection via the web has enabled the employers to build a ‘talent pool’ of qualified candidates and lessen their reliance on conventional print media (Thompson et al., 2008). This has led to significant cost savings as employers lessen their reliance on recruitment agencies (Thompson et al., 2008). In this regard, Harris & Dewar (2000) noted a significant reduction on the cost per-hire from $ 3,295 (for the conventional recruitment methods) to $377 (for internet based recruitment). There are many benefits arising with the use of internet based recruitment method as well challenges that it present to the organizations. It should be noted that internet based recruitment is not without its shortcomings, but the cons must be weighed against the pros in order to determine if this recruitment method is supported. BENEFITS OF INTERNET BASED RECRUITMENT The internet provides efficiency in the administration and scoring of test as the content can be easily modified and answers captured in electronic form (Van Hoye & Lievens 2007). It also enables routine checking of errors, automatic scoring of tests and provides instant feedback to the applicants (Van Hoye & Lievens 2007). This administrative ease enables recruiters to save on costs and time giving them a competitive hedge in the tight labour market. It also provides for increased flexibility for both the employer and applicants in the administration of tests and performance of work in varied geographical locations (Van Hoye & Lievens 2007). Moreover, the widespread of information in a globalized market widens access to a diverse geographical labour pool (Lievens & Harris 2003). Additionally, there is a greater transparency in the selection process as candidates are selected based on their skills, experience and competence (Lievens & Harris 200 3). CHALLENGES TO INTERNET BASED RECRUITMENT While it is apparent that online recruitment help cut on recruitment costs, increase efficiency and transparency in the selection process; there are some potentially major drawbacks. Due to the high number of applicants, screening and checking the authenticity and mapping of skills may be a time consuming exercise (Lievens & Harris 2003). The large number of indistinguishable resumes from the various applicants coupled with inadequate software and procedures may lead to poor results in the selection of the ideal candidate (Lievens & Harris 2003). This problem can largely be attributed to the existing methods for parsing resumes which is dependent on software that truncates and exclude the totality of content (Lievens & Harris 2003). Also, failure by the industry software to produce optimum candidate and position convergence may result in correspondingly low retention rates of the new employees hence costing client companies thousands of dollars (Lievens & Harris 2003). Despite having automated assistance, managing the workload remains a daunting task for HR managers. While software has reduced on the number of resumes from the applicants, that would otherwise be manually reviewed, it has not been successful in narrowing candidate resume pools to the ideal qualified applicants (Harris & Dewar 2000).It should be noted that most of the software employed in the process of recruitment and selection generally uses rudimentary lexical and semantic algorithms (Harris & Dewar 2000). These algorithms tend to generate a large candidate pool with most candidates insufficiently suitable for effective use (Harris & Dewar 2000). This is because the industry software lacks the ideal filtering capabilities necessary for the proper parsing of resume. Crucial data that could help in identifying the ideal candidate and position convergence is therefore lost. Without sufficient data, there is not enough variance that could be used in distinguishing among candidate and position suitability (Harris & Dewar 2000). This next section will explore on interactive voice response (IVR) which is also known as automated telephone interviewing. The method is also gaining popularity and is increasingly being used by firms in recruiting and selecting new hires. b. AUTOMATED TELEPHONE INTERVIEWING/INTERACTIVE VOICE RESPONSE (IVR) The use of interactive voice response (IVR) which also referred to as automated telephone interviewing is one of the newest ways to recruiting and selecting new hires (Thompson et.al 2008). IVR technology allows for human interaction with the computer via a telephone keypad or through the use of voice recognition (Thompson et.al 2008). This wave of technology is increasingly gaining popularity in the recruitment and selection of employees due to its many advantages. ADVANTAGES OF THE IVR IVR is an easily accessible technology. Take for example the United States where 95% of the households own phones (Thompson et.al 2008). With IVR, applicants can initiate the interview at any time. The applicants or potential employees can initiate an interview by simply making a phone call to a toll-free phone number and be automatically interviewed without any intervention from the operator (Thompson et.al 2008). IVR or rather automated telephone interviewing can help in eliminating interview biases (Thompson al 2008). It is highly cost effective in screening the candidate pool. DISADVANTAGES OF USING IVR While IVR is increasingly being used by many businesses to cut on the costs and give a better experience, it is not without its shortcomings. One of the greatest challenges to using IVR systems in recruitment and selection of employees is that the users find it hard to follow telephone menus and lengthy instructions (Thompson et.al 2008). Also, IVR screening is considered lower in terms of treatment and openness as well as in reconsideration opportunities than the conventional face to face interviewing (Thompson al 2008)..c. TELECONFERENCING AND VIDEO CONFERENCINGThere is also the use of telephone and video conferencing. Teleconferencing involves setting up of a conference telephone call between the selection committee and potential candidates (Gilliland 1993). Job interviews by teleconferencing are common where the applicant and the selection committee are located in geographically sparse regions. Video conferencing, on the other hand, involves the combination of both the audio and video transmissions, hence allowing for communication to take place by a way of an audio visual link (AVL) (Gilliland 1993). With video confer encing, both the applicant and selection committee members are able to share their views and at the same time see each other on the screen. BENEFITS OF VIDEO CONFERENCING Despite reducing the in-person meetings, video teleconferencing as well offer the advantages of face to face communication (Gilliland 1993). There is also significant cost reduction for both the applicant and the employer as there is no need of travelling and associated costs of lodging and meals (Gilliland 1993). There is also the added environmental benefit as a reduction in traveling implies a reduction in greenhouse gas emissions (Gilliland 1993). Further, upon placement this technology allows for the continued collaboration with the team members from remote locations (Gilliland 1993). CHALLENGES OF VIDEO CONFERENCING Similar to other technological innovations, video conferencing is not without its shortcomings. There might be a difference in time zones when conferencing in remote geographical locations (Gilliland 1993). Also, some of the human ways to communicating may not translate well with video conferencing (Gilliland 1993). For example, eye contact may not be easily delivered through a webcam, unlike in the conventional face-to-face interviewing where one can easily make eye contact and judge whether the interviewee is paying due attention. Last but not least, we explore on how computer based testing has impacted on recruitment and selection process.d. COMPUTER BASED TESTINGThe use of computer based interviews has increased in the recent years with a wide range of organizations utilizing computer-based online tests for selection purposes (Aptitude/psychometric tests) (Chapman & Webster, 2003). There are several reasons for increased reliance on psychometric tests in the recruitment and selection of employees. Key among these is the increased regulation and legislation, and loss of confidence in academic qualifications (Chapman & Webster, 2003). INCREASED REGULATION AND LEGISLATION Reliance on test use in the selection process has been used as a defensive strategy to regulation and legislation (Chapman & Webster, 2003). Tests are seen as objective indicators of how the skills of potential candidates align with the job description (Chapman & Webster, 2003). These competency tests promote fairness and equal access to opportunities available. LOSS OF CONFIDENCE IN ACADEMIC QUALIFICATIONS There is a growing body of evidence for a loss of confidence with the formal academic qualifications. This is largely attributed to bad governance and corrupt institutions that may award degrees or certificates to incompetent individuals. As such, competency based tests are increasingly being used in screening the candidate pool and in identifying candidates with skills that align with the â€Å"competency profile† for the job in question (Chapman & Webster, 2003). Computer based testing facilitates the selection process by quickly pinpointing the candidates ability more accurately (Chapman & Webster, 2003). Take for example the BULATS online test, a robust business English language test, which is widely used in helping organizations make timely decisions in the recruitment process (Chapman & Webster, 2003). This online test provides a fast and more accurate method of pinpointing the candidates’ ability and suitability to work by using adaptive testing techniques (Chapman & Webster, 2003). CONCLUSION Clearly, we have identified a number of benefits to using technology for purposes of recruiting and selecting job applicants. A quick recap of some of the benefits include increased efficiency in the administration and scoring of tests, increased flexibility, greater transparency, reduction in biases, widened access to a diverse geographical pool of potential candidates, and cost reduction among others. There are however challenges arising with the use of technological advances in recruitment and selection process. For example, the exercise may be time consuming as a large number of applicants need to be screened. Other shortcomings include poor results due to inadequate software and procedures, and difficulties in filtering of potential candidates, among others. Nonetheless, the latest advances in technology have significantly impacted on recruitment and selection process. As pointed out by Kay (2000), the power of the Web and e-technology has changed the way recruitment and selections of employees occur. Technological advancements and the ubiquity of the internet (especially with social networking) have become powerful additions to the process of recruitment and selection. However, these should not be considered as the only solutions to finding the ideal candidate. While changes are still underway, it is clear that advances in technology have dramatically impacted on the recruitment and selection process. REFERENCES Bauer, et.al, 2004. â€Å"Applicant reactions to different selection technology: face-to-face, interactive voice response and computer-assisted telephone screening interviews†, International Journal of selection and assessment, Portland State University: Blackwell publishing ltd. Baron, H., & J. Austin, 2000. Measuring ability via the Internet: Opportunities and issues. Paper presented at the Annual Conference of the Society for Industrial and Organizational Psychology, New Orleans, LA. Chapman, D.S., & J. Webster, 2003. â€Å"The use of technologies in recruiting, screening and selection processes for job candidates†, International journal of selection and assessment, Vol.11 (2), pp. 113-120 Gilliland, S.W, 1993. â€Å"The perceived fairness of selection systems: an organizational justice perspective†, Academy of management review, 18, pp.694-734 Harris, M., and K. Dewar, 2000. Understanding and using web-based recruiting and screening tools: key criteria, current trends and future directions. Workshop presented at annual meeting of the society for industrial and organizational psychology, San Diego, CA. Kay, A. S., 2000. â€Å"Recruiters embrace the Internet.† Informationweek: pp.72-80. Lievens, F., K. Van Dam and N. Anderson, 2002. â€Å"Recent Trends and Challenges in Personnel Selection†. Personnel Review, 31 (5-6), 580-601 Lievens, F., & M.M. Harris, 2003. â€Å"Research on Internet Recruiting and Testing: Current Status and Future Directions†. In: C.L. Cooper & I.T. Robertson (Eds.) International Review of Industrial and Organizational Psychology, Chicester: John Wiley & Sons, Ltd. vol. 16., pp. 131-165. Neil, A., 2003. â€Å"Applicant and recruiter reactions to new technology in selection: a critical review and agenda for future research†, International journal of selection and assessment, Vol. 11 (2) Thompson, L. F., P.W. Braddy, and K.L. Wuensch, 2008. E-Recruitment and the Benefits of Organizational Web Appeal. Computers in Human Behavior, 24 (5), 2384-2398. Tourangeau, R., D.M. Steiger & D.Wilson, 2002. â€Å"Self-administered questions by telephone: evaluating interactive voice response†, public opinion quarerly, 6, pp.265-278 Van Hoye, G. and F. Lievens, 2007. â€Å"Investigating Web-Based Recruitment Sources: Employee Testimonials versus Word-of-Mouse†. International Journal of Selection and Assessment, 15 (4), 372-382.

Investment Management

24/02/2013 1 25721 INVESTMENT MANAGEMENT Lecturers: Sean Anthonisz Nadima El-Hassan Jianxin Wang Brandon Zhu Subject Coordinator: Jianxin Wang Objectives 2 ? ? ? ? Why do you take this subject? What do you expect to learn? How much did you pay for this subject? Is this a good investment? Investment Decisions 3 ? ? How much should I invest in risky assets? How much should I invest in different risky assets? ? ? How many risky assets should I hold? When not to diversify? ? How to determine mispricing? Fair value today? Expected return next year? ? How well do asset pricing models work? ? ? 1 24/02/2013Investment Decisions 4 ? Passive versus active investing ? ? Is market efficient? Why not? What does it take to beat the market? How to hedge and how much to hedge? Derivative pricing Trading cost, liquidity, private information ? How should I manage risk? ? ? ? How should I trade? ? ? Sources of my performance? What Do We Learn in This Subject? 5 ? ? ? ? A theoretical framework for portf olio construction. A theoretical framework for the pricing of equities and bonds. Some practical applications of asset pricing models and portfolio analysis. Issues relating to market efficiency and investor behaviour.Course Structure 6 Funds Management Information Portfolio Theory Risk and Return Markets and Investing CAPM Factor Models & APT Options Fixed Income Equities Futures 2 24/02/2013 Investment Electives 7 ? ? ? ? ? ? 25705 Financial Modelling and Forecasting 25728 Bond Portfolio Management 25729 Applied Portfolio Management 24731 International Finance 25762 Synthetic Financial Products A whole range of subjects for Quant Fin majors: technical analysis, numerical analysis, fin econometrics, stat methods, derivative pricing, interest rate modelling. Prerequisite 8 ? ? 25742 Financial Management Basic math and statisticsBasic calculus and optimization Probability and distributions ? Mean, variance, standard deviation, covariance ? Linear regression by ordinary least square ( OLS) ? ? ? Read the online Quantitative Review ? A very brief review next week What Is Expected – in class 9 ? Lectures are primarily aimed at Identifying and explaining key concepts and issues Highlighting the links to practice ? Completing selected problems from text ? ? ? Questions are encouraged and rewarded. ? Discussion is better than lecture Mutual respect and encouragement; Potential problems: repeated late arrivals, chatting during lecture, academic honesty Code of behavior ? ? 3 24/02/2013 What Is Expected – outside class 10 ? Address some details within the course reading materials. ? Group study is more effective ? ? Workload is about 7-8 hours per week on average (albeit uneven), including course readings, practices, and assignments. Multiple learning channels: ? ? Multiple levels of learning: ? Web-based learning support Lecture material, textbook, and Excel sheets Approach to Learning 11 ? ? ? Read relevant chapters prior to lectures Attempt to identify and understand the key messages: Concepts? Issues? Connections?Ask questions during lecture. ? You paid $$$ for the opportunity ? ? Think & reflect; don’t just summarize & memorize. Practice using back-of-chapter questions. Approach to Learning — I listen and I forget; I see and I remember; I do and I understand. —Xun Zi Just Do It! —Nike 12 4 24/02/2013 Textbook and Readings 13 ? Bodie, Kane, Marcus, Investments, 9th Ed, McGraw-Hill/Irwin, 2011. ? You take full responsibility if using an earlier edition. ? ? ? ? Harvard Business School case study 9202-024 â€Å"Strategic Capital Management†. R.A. Haugen, Modern Investment Theory, 5th Ed, Pearson Higher Education, 2001. J. H. Cochrane, 2006, Investments Notes. Other fun books on financial markets. Assessments 14 ? Weekly online quizzes: 10 marks ? ? ? ? ? 15 MC questions in 1 hour Unlimited tries with the best mark kept Monday morning to next Wednesday midnight Once closed, quizzes cannot be re opened Best 10 marks for the semester Group-based case report Online group registration Report due 5pm Friday March 29 Late submissions carry point deduction ? Case study in lecture 6: 10 marks ? ? ? ? Assessments 15 ?Mid-session exam: 40 marks ? ? ? ? Cover lectures 1 – 6, including the case study Multiple-choice (20 marks) Short-answer questions (20 marks) No formula sheet Cover lectures 7 – 13, excluding lecture 8 Multiple-choice (20 marks) Short-answer questions (20 marks) A short list of formulas will be identified and provided during the final exam. ? Final exam: 40 marks ? ? ? ? 5 24/02/2013 Online Group Registration 16 ? ? ? ? ? ? Log in the online course website Click on â€Å"Groups† in the left panel Group names contain â€Å"1m†, â€Å"2m†, â€Å"3m†, â€Å"4m†, indicating max members = 1, 2, 3, 4, respectively.The first member is the group leader. Registration closes after 5pm on March 10. Changing group only in the most extreme circumstances. What’s Required? 17 ? ? ? Materials covered in the chapters listed in the lecture program, except certain subsections are explicitly excluded. The midsession and the final exams will focus on materials covered during lectures, with at most 3-4 multiple-choice questions in each exam on materials not covered in lectures. Materials not covered in lectures will be heavily featured in the online quizzes. Administrative Issues 8 ? Name sign: â€Å"Open† for the business of learning ? Take it out at the start of every lecture It’s good to make the lecturer know your name ? Come to consultation hours ? ? ? Other times by appointment Email for straightforward questions Complex questions are best answered through interactive discussion ? Emails will be answered before or during the next consultation hours ? 6 24/02/2013 Learning Support – Postgraduate ? ? ? ? ? Need help with your postgraduate studies at UTS Business School? Are you new to un iversity / postgraduate education?Not sure to how develop your academic skills in writing, reading, critical thinking etc.? Not sure how to complete assignments or achieve your best? Ask for help from the Learning Support Coordinator ? ? ? ? ? ? Make appointments for confidential individual help Lots of ‘online study resources’ to recommend / hardcopy study resources to share Attend the Study Skills Workshops all semester / or download them / Help by email / phone support / Email: [email  protected] edu. au www:http://www. business. uts. edu. au/teaching/student/resources/studen t-learning. tml Join us on facebook UTSBlearningsupport ? Asset Classes 20 ? ? ? ? ? ? The money market The bond market The equity market The real estate market Currency markets Derivative markets ? Financial and commodities ? Others? Trading Platforms 21 ? Organized exchanges Dealership markets Auction markets ? Electronic trading ? ? ? ? OTC – NASDAQ Alternative trading systems (ATS) ? ECNs, dark pools, internal crossings. ? Algorithm/high frequency trading 7 24/02/2013 High Frequency Trading 22 ? Menkveld (2011): a HFTer on Chi-X Dutch stocks from Jan 2007 to June 2008 Trades 1400 times per stock per day ?Gross profit per trade â‚ ¬0. 88 ? ? ? ? ? â‚ ¬1. 55 profit on the spread net of fees â‚ ¬0. 45 profit on positions < 5 seconds â‚ ¬1. 13 loss on positions >= 5 seconds Max capital committed ? â‚ ¬2 million per stock ? Implied annualized Sharpe ratio = 9. 35! ? ? Sharpe ratio for S&P500 over the period = -0. 16 ? Chi-X is in Australia. Costs of Trading 23 ? Commission: fee paid to broker for making the transaction ? Exchange members/subscribers? ? Spread: Bid and ask prices Spread: ask – bid ? P89, #14 ? Market versus limit orders ? ? ? Price impact of large tradesStock Margin Trading 24 ? ? ? ? Borrow (from brokers) to purchase shares Initial margin Maintenance margin – minimum level the equity margin can be Margin call ? Call for more equity funds ? Margin arrangements differ for stocks and derivatives 8 24/02/2013 Margin Trading – Initial Conditions 25 ? ? ? ? ? X Corp: P = $70 Initial Margin = 50% Maintenance Margin = 40% 1000 Shares Purchased Initial Position: Stock $70,000 Borrowed Equity $35,000 $35,000 Maintenance Margin 26 ? ? Stock price falls to $60 per share New Position ? $60,000=$35,000(Borrowed) + 25,000(Equity) ? Margin = $25,000/$60,000 = 41. 67% How far can the price fall before a margin call? ? ? (1000P – $35,000) / 1000P = 40% P = $58. 33 ? P88, #9 Short Sale 27 ? ? Purpose: Profit from a price fall Mechanics Borrow stock through a dealer/broker Sell it and deposit proceeds and margin in an account ? Any dividend is passed back to the lender ? Closing out the position ? ? ? ? Buy back the stock and return it to the lender Profits can be deposited into your own account ? Naked versus covered short sale 9 24/02/2013 Short Sale – Initial Conditions 28Z Corp Initial Margin Maintenance Margin Initial Price Sale Proceeds Margin Account Balance 100 Shares 50% 30% $100 $10,000 $ 5,000 $15,000 Short Sale – Maintenance Margin 29 ? Stock Price Rises to $110 Stock owed Net equity ? Margin % (4000/11000) ? ? $11,000 $ 4,000 36% ? ? How much can the stock price rise before a margin call? ($15,000 – 100P) / (100P) = 30% P = $115. 38 P89, #12 Summary 30 ? Course introduction and requirements ? Think, reflect, and participate ? ? Financial markets and assets Trading of financial assets Trading platforms Transaction costs ? Margin trading and short selling ? ? 10 Investment Management UNIVERSITY OF TEXAS AT DALLAS SCHOOL OF MANAGEMENT FIN6310: INVESTMENT MANAGEMENT SOLUTIONS TO PROBLEM SET #1 PROF. ARZU OZOGUZ SPRING 2013 1. Calculate the value of the following two bonds. Assume that coupon payments are made semi-annually and that par value is $1,000 for both bonds. Coupon rate Time to maturity Yield-to-maturity Bond A 5% 5 yrs 7. 2% Bond B 5% 25 yrs 7. 2% Recalculate the bonds’ values if the yield to maturity changes to 9. 4%. Which bond is more sensitive to the changes in the yield? Will this always be the case? When the yield-to-maturity is 7. %, the bond prices are, respectively, 1 1 1. 036 0. 036 1 1. 036 0. 036 1 1. 047 0. 047 1 1. 047 0. 047 25 1000 1. 036 1000 1. 036 908. 98 1 25 746. 58 When the yield-to-maturity is 9. 4%, the bond prices are, respectively, 1 25 1000 1. 036 1000 1. 047 827. 62 1 25 579. 01 Price of bond A decreases by 8. 95%, while price of bond B drops by 22. 45%. The longer term bond is more sensitive to a given change in the dis count rate. This will always be the case. Mathematically, there are more terms in the equation for the longer-term bond that are influenced by the discount rate.Practically speaking, your money is tied up longer with a longer term bond and so you will experience greater capital losses and gains when interest rates change. 2. A bond with a coupon rate of 4. 7% is priced to yield 6. 30%. Coupon is paid is semi-annually; the par value is $1,000. The bond has 5 years remaining until maturity. Assuming that market rates stay the same over the next five years, calculate the value of the bond at the beginning of each year and the amount of change in the bond’s value from year to year. Describe the behavior of the bond’s value over time.At t = 0, at issue the price will be 1 1 1. 0315 0. 0315 1 1. 0315 0. 0315 1 1. 0315 0. 0315 1 1. 0315 0. 0315 1 1. 0315 0. 0315 23. 5 1000 1. 0315 932. 28 At the end of year 1, the price becomes 1 23. 5 1000 1. 0315 1000 1. 0315 1000 1. 0315 1 000 1. 0315 944. 20 1 23. 5 956. 88 1 23. 5 970. 37 1 23. 5 1000 984. 73 The price change from year to year is ? ? ? ? ? 11. 92 12. 68 13. 49 14. 36 15. 27 The bond is selling at a discount today; its price will rise to move toward par value at maturity. The change in price increases as it gets closer to maturity. 3.Suppose that you purchased a 20-year bond that pays an annual coupon of $40 and is selling at par. Calculate the one –year holding period return for each of these three cases. a. The yield-to-maturity is 5. 5% one year from now. If the yield-to-maturity is 5. 5% one year from now, the bond will be selling for 1 1 1000 1. 055 40 825. 89 1. 055 0. 055 Hence, the holding-period-return (HPR) is: 825. 89 40 1000 13. 41% 1000 b. The yield-to-maturity is the same one year from today as it is today. In this case, the bond price will remain at par and therefore the holding period return equals to coupon rate 4% c.The yield-to-maturity is 2. 5% one year from now. 1 1000 1. 025 40 1224. 68 1. 025 0. 025 Hence, the holding-period-return (HPR) is: 1224. 68 40 1000 26. 47% 1000 1 4. Plot the yield curve implied by the data in the following table. Time to maturity 3 months 6 months 1 year 2 years 5 years 10 years 15 years 20 years Yield-tomaturity 2. 40% 2. 60% 3. 00% 4. 30% 4. 80% 5. 70% 6. 40% 5. 20% Based on the Expectations Hypothesis, what does the yield curve tell us about short-term rates 5 years from now? What does it tell us about short rates 15 years from now and 20 years from now?Since the yield curve is upward sloping through the fifth year, investors expect that short term rates will be higher during that period than they are today. That is, they expect the 3-month rate to be higher than 2. 4% when five years have passed. They also expect short term rates to be higher than current rates in 15 years. This is reflected in the slope of the yield curve which is positive through year 15. However, the expectation is that after 15 years, short term r ates will begin to fall again. The downward slope in the yield curve is a sign of that expectation.That is, the 3-month rate that prevails 20 years from now is expected to be lower than the 3-month rate that prevails 15 years from now. 5. The current yield curve for default free zero-coupon bonds is as follows: Maturity (years) 1 2 3 Yield-tomaturity 10% 11% 12% a. What are the implied one year forward rates? The one-year forward rate for time 2 solves the following equation: 1. 11 1. 10 1 12. 009%. Similarly, the one-year forward rate for time 3 solves That is, the equation: 1. 12 That is, 14. 0271% 1. 11 1 b. Assume that the expectations hypothesis of the term structure is correct.If market expectations are accurate, what will the yields to maturity on one year and two year zero coupon bonds be next year? We have already computed the forecast for the one year rate next year. We must now compute the expectation for the 2-years to maturity. This must equate the strategy that consist s of investing for 3 years at the current 3-year spot rate with the strategy of investing at the one-year spot rate and then rolling over the profits into a two-year bond one year from now: 1. 10 1 1. 12 13. 0136%. Hence, the forecast for the one-year yield is This implies that 12. 09%, and forecast for the two-year yield is 13. 0136%. c. If you purchase a two year zero coupon bond now, what is the expected total rate of return over the next year? What if you purchase a three year zero coupon bond? You can assume that the par value is $100. We need to compute the forecasted price of the two-year zero-coupon bond at the end of the first year. Notice that by that time this has become a one-year bond. Hence its price is 1000 1. 12009 892. 79 Today the price of this bond is simply 892. 79 811. 62 does not pay any coupons, its return is given by: 1 1 10% . 11. 62. Since this bond Similarly, if you purchase a three-year zero coupon bond today, the forecasted price a year later is 1000 1. 130136 Today, this bond’s price is simply expected holding period return is 78. 295 71. 178 1 78. 295 . 71. 178. Therefore, the 10% 6. Consider the following three bonds. You are investigating how the bonds would react to changes in interest rates. Bond A Face value Years to maturity Coupon rate Yield-to-maturity $1,000 3 5. 5% 4. 80% Zero-coupon bond $1,000 2. 85 0 4. 80% Bond B $1,000 3 8. 75% 4. 80% Assume that coupons are paid once a year. . Find the duration of each bond. Bond A Time 1 2 3 Price ZCB Time 2. 85 Price Bond B Time 1 2 3 Price Cash Flow 87. 5 87. 5 1087. 5 Present value 83. 49 79. 67 944. 81 1107. 97 Weight 0. 075 0. 072 0. 853 Cash Flow 1000 Present value 874. 92 874. 92 Weight 1. 000 Cash Flow 55 55 1055 Present value 52. 48 50. 08 916. 58 1019. 13 Weight 0. 051 0. 049 0. 899 Hence, the durations are: 0. 051 0. 075 1 1 0. 049 0. 072 2 2 0. 899 0. 853 3 3 2. 85 2. 78 2. 85 b. Calculate the modified duration of each bond. The modified durations are ? ? 2. 85 2. 72 1. 048 2. 78 2. 5 1. 048 c. Calculate the estimated percentage change in price of each bond due to a 0. 50% change in yield to maturity. The percentage change in the price of each bond due to a change in the yield? ? ? to-maturity is ? ? ? 2. 72 2. 65 0. 5% 1. 36% 1. 33% 0. 5% d. What can you conclude about the reactions of the bonds? Specifically, compare the percentage price changes of the bonds with similar durations and the bonds with similar maturities. Bonds with equal durations are more alike than bonds with equal maturities in their reactions to changes in yields. 7.Suppose that your insurance company has issued a Guaranteed Investment Contract (GIC) that matures in three years and promises to pay an interest rate of 23. 36%. The amount invested in GIC today is $150,000. You have decided to immunize your position by purchasing a bond that has a par value of $150,000, a coupon rate of 23. 36%, and four years to maturity. The bond is selling currently at par value. a. W hat is the future value of your company’s obligation? The future value of the obligation is $150,000 1. 2336 $281,588. 13 b. Assume that the interest rate stays at 23. 36%.At the date at which each payment is received, compute the accumulated value of reinvested coupons and the proceeds from the bond sale. How close will you come to your meeting your obligation? The bond pays a coupon of $150,000 23. 36% $35,040. If the market rates remain unchanged, at the end of year three it will be possible to sell the bond still at par. With this information, we can construct the following table: Year 1 2 3 3 Total future value Cash flow 35,040 35,040 35,040 150,000 Accumulated value 53,322. 78 43,225. 34 35,040 150,000 281,588. 13 That is, you will be able to repay your obligation in full.

Natural Law theory Essay

With reference to other aspects of human experience, explore the claim that Natural Law theory is irrelevant. Justify your answer. [15] Natural Law is becoming more irrelevant due to our secular culture. Natural Law depends on the belief that the world was designed by a creator, and that morality is absolute according to his standards. Aquinas assumes that all men must seek to worship God. What about an atheist? According to Thompson, if someone does not believe in God, then â€Å"the natural law theory loses its foundation.† Furthermore, in today’s society natural law has largely been replaced by utilitarianism, the belief that our moral choices are less absolute and should be based on creating the greatest amount of happiness for the greatest amount of people. It has even been referred to as, â€Å"the ethics of the planet.† It is far less restrictive and many argue it is a superior philosophy to natural law. According to Peter Mullen, Working with Morality, it may be necessary, for example, to torture an innocent person to save the lives of thousands. Peter Singer once wrote a piece condemning natural law in a magazine called Project Syndicate. He prefers practical ethics to theoretical ethics. He cites the case of a South American woman called Beatriz who was pregnant and suffers from lupus, this made the pregnancy difficult. Furthermore, the child had anencephaly. Singer was enraged that the natural law philosophy of Catholic El Salvador prevented her from getting an abortion. He wrote with regard to natural law, â€Å"The use of the term â€Å"being with a rational nature† is very broad, perhaps too broad.† Even the Pope has recently condoned the breaking of natural law in extreme circumstances. Pope Francis has indicated that women exposed to the Zika virus may be permitted to use contraception to avoid pregnancy, in a departure from Catholic teaching. His comments came as women in South America frantically try to terminate pregnancies for fear of giving birth to babies with microcephaly, which gives them unusually small heads. He said that unlike abortion, â€Å"avoiding pregnancy is not an absolute evil† and in certain circumstances it may be â€Å"the lesser evil†. This proves that natural law is becoming irrelevant even for the Catholic Church. Among more orthodox thinkers, objection to the natural law takes several forms. Many, Protestant evangelicals in particular, presume that natural-law thinking fails to take seriously the condition of human sin and places misguided trust in the powers of human reason debilitated by the Fall. Consequently, natural-law theory is thought to be insufficiently Christocentric and located outside the realm of grace, thereby engendering a version of works-righteousness. These critics remain sceptical out of a concern that natural law is autonomous and somehow external to the centre of theological ethics and God’s providential care of the world. On the other hand, many would argue that natural law is not irrelevant because it is instinctual within all humans. Some believe that God has implanted the natural law as a form of moral instinct. For example, the writer Johannes Teutonicus said that the natural law of men is based on an, â€Å"instinct proceeding from reason.† Therefore even if one is an atheist you cannot escape the urge to follow natural law based on your conscience. Finally, Natural Law continues to be central to Catholic teaching. Early teachers such as Aquinas supported it and so do modern day clergy. The RCC believes that everyone is subject to it from birth (natio), because it contains only those duties which are derivable from human nature itself, and because, absolutely speaking, its essentials can be grasped by the unaided light of human reason. Just recently in March 2015 Archbishop Salvatore Cordileone of San Francisco has invoked the natural law in stressing the moral unacceptability of gay sex and gay marriage.

P3725 case 21 Essay Example | Topics and Well Written Essays - 1000 words

P3725 case 21 - Essay Example On the other hand, untreated periodontitis can lead to early tooth loss. According to Ere and Genco (2007), â€Å"periodontal disease is highly prevalent in older adults, affecting 34% of the American population ages greater than 30 years and it is severe in 13% .† Patient with certain genetic traits or systemic diseases such as diabetes, smokers, stress, medication, clenching, or grinding teeth suffer from increase susceptibility. Reducing gingivitis and destructive periodontal diseases among adults is one of the important oral health objectives since it entails proving good oral preventive instruction care. As a student, I want to contribute to the efforts aimed at decreasing prenatal disease care particularly with respect to the case of Mr. B. I have seen a number of patients with some periodontal disease. Such encounters have been very fundamental in broadening my knowledge and understanding on care related to such infections, a move that would be very critical in helping such patients. One of such cases is that of Mr. B who is 48 year-old male, divorced, and works 3-4 days a week far from home. Currently, he is serving as a salesperson. He happens to have been complaining of the appearance of the yellowing and stains teeth. Over the last three years, he has been to a dental specialist after every 4 months for checkups and cleaning. This patient clenches and grinds the teeth in the daytime and night. He does not floss and regularly uses hard tooth brush 3 times a week for approximately one minute with hydrogen peroxide and baking soda tooth paste. He has been smoking two packets of cigarettes per day and has not plan to quite any time soon. Also, he consumes four cups of coffee daily. The patient has type II diabetes und er control with medication. The last physician visit was for hyperthyroidism thyroid gland with medication. He strives to reach a

Travel Agency Sector in the United Kingdom Essay

Travel Agency Sector in the United Kingdom - Essay Example The barriers to market entry in the travel agency sector are low, therefore, increasing the intensity of the competition. Most travel agents are shifting their marketing to online bookings in order to remain competitive. In 2013, the penetration of in-store bookings fell from 25 percent to 18 percent from the previous year (www.store.mintel.com). The agencies are facing numerous challenges due to an increase in mobile internet penetration. The two leading travel agencies in the UK are TUI Travel plc and Thomas Cook Group plc. Thomas Cook travel agency is one of the leading UK-based travel agencies, and it is also listed on the London Stock Exchange. The agency owns a number of tour operators and charter airlines in the United Kingdom. The agency also extends its presence to Belgium and the Scandinavian countries. It is also the owner of Condor (scheduled airline) and Hotels4u (booking website). Currently, Thomas Cook has a customer base of 19.1 million and 32,722 employees making it the second largest travel agency in Europe and the UK. Thomas Cook ranks second after TUI UK Limited, which has 4,644,025 passengers licensed (CAA 2015). This Group attributes its growth to the introduction of new products and its winter sun initiatives (Thomas Cook 2015, p. 1). Table 1 shows the overall performance of Thomas Cook for the two-year period. TUI Travel plc is the leading travel services provider in the United Kingdom. The Group offers high-quality travel services to its 30 million customers in 31 major source markets. These services include flight bookings and the entire holiday services (TUI Travel plc 2014). Despite the high competition in the travel industry, TUI Travel plc recorded an underlying operating growth profit of 11 percent at constant current rates (TUI Travel plc 2014, p. 1).  Ã‚  

IT Essay Example | Topics and Well Written Essays - 1500 words - 1

IT - Essay Example Lastly, we shall discuss their roles in mobile companies. Reliable sources have been referred for the information and figures that have been included in the study. Google and Apple are two companies that have created an explosion in the field of mobile phones. It is worthwhile to understand the peculiarities of the operating systems of these two companies. Both have their own advantages and disadvantages. It depends on the user which one to choose according to his/her requirements. Google’s Android is basically a mobile operating system that is open-source in nature. It allows the developers to adapt the software according to their requirements. The developers can do this by using their own codes or by using ‘C’ (although it is not approved by Google yet it serves the purpose). Android phones support an ample range of mobile technologies such as Bluetooth, WiFi, etc. But one of the main features is that it allows deaf and blind people to operate their mobile phones with much ease. High-end Android phones allow multi-user settings on a single phone. It means that multiple users can use the same phone but with their privacy intact. All users can have their separate login password. In addition to the usual features of Apple mobile phones such as multi-touch gestures, media library, store-kit, cameras, graphics, compass, etc., the latest iOS technology has introduced some new features that are enlisted below: Now Apple has launched its own maps on its mobile phones. This new feature allows the user to view maps (in 3D), traffic updates and more information. An interesting feature that has been introduced by Apple is the ‘Flyover’ that allows the users to select a metropolitan city and enjoy an aerial view. The improved version of Siri can now recognize more languages and can answer questions based on varied subjects such as sports, films, eateries, etc. the users can also post comments on their social networking websites. If talks with car

Advancements in Molecular Imaging Research Paper

Advancements in Molecular Imaging - Research Paper Example r imaging involves many processes, hence, it encompasses many fields; target discovery, cell biology, chemistry, disease modeling, data processing, imaging and clinical research. The field is undergoing a lot of advancements that would enable it perform other tasks. Currently, further research efforts have been concentrated towards ensuring that the technology can bring about discovery of newer and more efficient ways to treat diseases and various pathologies in living organisms. With emergency of new tools, researchers are now able to solve problems that were previously difficult to solve. There are now different various molecular imaging tools that have enabled scientists to experiment on gene products in vivo. Notable technological advancements in this field include the discovery of new optical imaging techniques which is a forward step in molecular imaging in that, researchers are now able to work efficiently and proficiently (Baldwin, 2010). Some latest advancement in molecular imaging includes MRI, PET and optical imaging. Pet has ensured that there is an improvement in tumor detection so that tumors are treated and managed early and better. New MRI systems that have been developed have an improved field strength and enhanced radiofrequency. Tumor detection and management has also been made moirà © efficient through the technology of monoclonal antibody imaging. This is one of the latest discoveries in the field, and it has ensured that researchers of tumors are able to come up with better ways of discovering and treating tumor cases. This has revolutionalised clinical diagnosis of tumors (Baldwin, 2010). This is also referred to as radioimmunoscintigraphy (RIS) and it involves the use of laboratory developed molecules (monoclonal antibodies) that are able to attach themselves to particular cancer cells. From this, it is possible to visualize the pictures of the cancer cells inside the body. The monoclonal antibody is usually labeled with a radioactive atom

Islamic architecture Essay Example | Topics and Well Written Essays - 1750 words

Islamic architecture - Essay Example (Burckhardt, Art of Islam, p. 203) The divine reflections and revelations of Islamic architecture have deep historical roots in multiple cultures and religions. From ancient Greece to twenty-first century technological marvels, Islamic architecture draws from a plethora of rich influences and resources in creating its own unique experience of bringing the sacred and the divine into the human experience. The earliest historical influences arise out of the architecture of Ancient Greece with its Doric, Ionic and Corinthian styles of architecture as defined by their columnar structures. The influence of the Ionic and later Corinthian styles can be seen in columns of the earliest mosques, such as the Hagia Sophia built in 532 A.D in Istanbul (then Constantinople) in which Corinthian style columns can be seen on the left side knave and Ionic-style columns in the center kiosk in the picture at left (Wegner, Hagia Sophia, [internet]) and in the Tulun Mosque in Cairo Egypt built in 876 A.D. in the picture on the right in which the Corinthian style columns provide the supports to all the doorways and arches. (â€Å"Islamic Architecture† in Free Dictionary [internet]) The Romans also added their influence to Islamic architecture. Roman architecture was socio-policitical in nature. Its aim was primarily focused on public events of which the collisem in Rome is the main existing example. Islam absorbed this focus in its architecture as well in the way its people built their communities in consideration of community needs rather than individual glory. (Helms, pp 129-132) Mosques and Madrasahs reflect the spaciousness of the Roman buildings, as places with space for the whole community to gather for edification and worship. A mosque in Armenia provides an example of this with the photograph to the left illustrating its outer simplicity and the photograph to the left showing a floor-plan of its inner spaciousness. When the Byzantine Empire became the dominant force in

London millennium bridge Essay Example | Topics and Well Written Essays - 1000 words

London millennium bridge - Essay Example London Millennium Bridge London Millennium Bridge links the city of London with the Bankside. It’s 330m steel bridge over the river Thames and is 330m long. It’s the first bridge that was built across the Thames River in London since the opening of the Tower Bridge (1894). Another special feature about the bridge is that is the first pedestrian only bridge. The city is linked near the St Paul's Cathedral with the Tate Modern art gallery on the Bankside. The bridge officially opened on 10th June 2000 and was immediately closed after being open for 2 days as it swayed alarmingly. The movement was not expected to be so great and this led to a lot of criticism of the project. The extensive research took place on the design and the bridge was reopened again after modifications to the original design on 22 February 2002. Since, then it has not had any troubles and today is one of the major attractions of London attracting thousands of pedestrians and tourists every day. The M illennium Bridge is a simple concept which has been given shape via an extensive and complex design. Findings of the Review The review views the Bridge in 2 phases. First phase is before the reopening of the bridge in 2002 (after numerous modifications were made) and the second is after the reopening immediately after the opening and the 2 years that it was closed. The review terms the first phase as a complete failure due to the following reasons: It did not meet the criteria of a successful project It was not completed on time It overshot the initial budget The final product was not of the best quality and had to be redesigned Extra funds had to be raised in order to do the modifications The review terms the second phase as a success due to the following reasons: There is no wobbling and meets all the technical requirements It leaved up to the expectations It has contributed and generated revenue through tourism It has created jobs as it has opened up new business opportunities in the surrounding area Response to the Review Even though the findings of the review are accurate and based on quality research, it does not take into consideration all the factors into consideration before terming it as an initial failure. Yes the fact that the engineers failed to come up with a design that could have predicted the wobbling and make necessary modification cannot be ignored. But this kind pedestrian effect on the bridge was unpredictable. As there hadn’t been any previous recordings that had caused such major effects (Zasky, 2011). Also there are numerous other factors that need to be considered. Prior to this, there hadn’t been much literature on the lateral vibration of a bridge. Even though there were numerous instances where lateral vibration was observed, it was not given much attention and hence was not incorporated into bridge building codes (Newland, n.d.). Examples of other bridges that have registered lateral vibration are Auckland Harbour Roa d Bridge, Groves Suspension Bridge and Birmingham NEC Link Bridge. The research that has gone into finding a solution for the problem has lead to new literature on the topic and this will be used as benchmark for all the future projects. As mentioned above numerous other bridges, which are different in design and technology to that of London Millennium Bridge, that have vibrated due to the load of the crowd have come to light (Newland, 2003). Project manager of the Bridge said, â€Å"

Tesco Case Analysis Essay Example for Free

Tesco Case Analysis Essay The rise of Tesco, from a mediocre supermarket company into an outstanding, world-class, multi-faceted organization, has been a remarkable one. Since 1929, when Jack Cohen opened the 1st Tesco store, the company has seen tremendous growth and success. Customer centric approach, which has been adopted by the company since its very inception, along with strategic vision and innovation under the leadership of CEO Terry Leahy has been some of the underlying factors of Tesco’s sustained success. Leahy was the architect of the idea â€Å"The Tesco Way†, which included the company’s core values, principals and goals among other things and which aimed to establish Tesco as a â€Å"Value retailer†. Right from the concept of store formats to the investment in information technology to the diversification of products and services, Leahy emphasized on innovation in all aspects of business. The Tesco Clubcard, which was first launched in 1995 to analyze consumer purchase data and target appropriate promotional offers, increased customer loyalty by leaps and bounds. Tesco created different formats of stores to cater to the different segments and different needs of its customers. Tesco’s strategy to gain international presence through expansion has been one of the cornerstones of their success. The company expanded in countries of Eastern European and in emerging economies of Asia and in all these countries it aimed for market leadership ahead of profitability and based their strategy into such distinct elements which led to sustained growth. Being flexible and unique to each market, acting local, maintaining focus, using multiple formats, developing capabilities and building brands were some of the strategies used to form a long lasting relationship with customers. The fact that Tesco strategically added new products and services in its portfolio worked to its advantage. In addition to its popular in store food and beverage selection, Tesco diversified into financial services, telecommunication services and travel services. The launch of Tesco’s online grocery store made the company, Britain’s largest online store. So to summarize strategic vision, innovation and lasting customer relationship has helped Tesco to become the most dominant UK retailer and the third largest retailer in the world. Tesco had all the technical know-how, expertise and experience needed to succeed in US retail market. The strategy the company adopted while expanding in international markets is very much applicable to the US retail market as well. Tesco’s policies of acting local and catering to local customers and cultures along with leveraging the brand value of the company to attract customers are of prime importance if it has to succeed in US. Tesco’s decision to enter the U.S. market as Fresh and Easy was very feasible and based on sound theory, research, and projections. However, the company’s expectations did not translate into similar performance. Based on prior research, the company had identified a geographic niche market in California, Arizona, and Nevada where there was no dominant player. Tesco had even sent employees to live with 50 families and conducted 200 focus groups at one of the company’s facilities. Despite prior unsuccessful attempts by other British companies to enter the U.S. market, Tesco presented a compelling case regarding its ability to penetrate the U.S. market in California, Arizona and Nevada. Overall, Tesco did not enjoy the success it had anticipated because it did not account for cultural and perceptual differences between the U.S and Europe. Although Fresh and Easy was right to include a higher percentage of produce in its stores, many other strategies found in Exhibit 12 from the case, likely prevented additional sales and growth. For example, presenting a merchandise mix comprised largely of store-label brands combined with an everyday low pricing strategy likely caused American consumers to perceive Fresh and Easy as lower in quality and overall value. The consumer could go to a competitor and purchase a more familiar name brand on-sale from a larger selection of items. Other strategies for which success did not translate from the U.K. to the U.S. were the overnight inventory stocking plan and the carrying of fewer items than traditional grocery stores. As seen in Exhibit 12 from the case, typical American consumers make fewer visits to the grocery store per year than do their counterparts in the U.K and Europe. If an item is out-of-stock one day, the American consumer is much more likely to visit a competitor than come back the next morning as is customary in the U.K. Fresh and Easy’s value proposition was the sale of fresh, healthy food that the majority of people could afford and catering to an â€Å"increasing consumer interest in wellness, in health-conscious food choices and a continuing trend towards on-the-go consumption.† Also of value was the feel of a â€Å"neighborhood market† where customer service was superior and employees genuinely enjoyed their work. These elements are very appealing to consumers in Arizona, Nevada, and especially California, where healthy, green living is a growing trend and the average commute time spent in a car is much greater than in other parts of the country. The move to open stores in the United States was a promising plan on paper. Tesco also had the financial resources to build a successful operation in their new target market. Their actual performance, however, either fell below the expected performance or was of negative value in almost every metric (Exhibit 1). The main areas in which Tesco’s financial performance were evaluated were number of new stores opened, revenue, and profitability. The number of Fresh and Easy stores opened in the US was 145 at the end of 2010. The expectation was to open 200 stores by February 2009. Fresh and Easy had only generated $30 million in targeted sales versus the expected $100 million in the spring of 2008. In the year 2008, Fresh and Easy had a loss of  £62 million and it yielded a profit margin of -308%. Even though the profit margin increased the following years, 2009 and 2010, it was still a negative profit margin. The cause of Fresh and Easy’s poor financial performance had to do with a slow growth of the operation. An operation is only able to grow from the sales that it generates, especially in the introductory phase. The only way that Fresh and Easy would be able to meet its objective of opening 200 new stores by February 2009 would be to have almost all stores in the existing operation be profitable. This was not the case as profit margin was -308% in 2008. Fresh and Easy also faced high fixed costs by maintaining their distribution center, which has the capacity to service 500 stores. This resulted in excess capacity. The cause of their poor sales numbers was the fact that they were pricing too low. The average Fresh and Easy customer spends only $15 per visit versus $41 for the customer of an average supermarket. To be profitable, Fresh and Easy stores need to get at least three times the volume of an average supermarket. Both of these factors were drivers for Fresh and Easy’s negative profit margin in all three years of its operation in the United States. We have identified some of the causes that Tesco could control regarding its financial performance. They began their operation, however, in the midst of an economic recession. There is no doubt that any economic recession would decrease overall demand. Food items, however, are a necessity regardless of the economic state of the nation. Tesco should have been more proactive during these times by expanding store locations and being more accessible to consumers. The lease costs and new store construction tend to be lower during these periods of economic hardship. More Fresh and Easy locations would result in increased accessibility and ultimately more sales. Their low prices during times of economic hardship would drive more customers into Fresh and Easy locations as they would stray away from their pricier existing supermarket and perceived quality becomes slightly less of an issue. Tesco has a great product line with the Fresh Easy chain opening in the US. This chain caters to the healthy food trend emerging in the US and is in direct competition to Whole Foods, the more expensive alternative. Perception is reality. To the consumer, Fresh Easy has not lived up to its name. Tesco should make the stores â€Å"greener† so that the look of the stores’ interior matches the brand image. Consumers who purchase healthy organic food want to feel like they are shopping in an environmentally conscious store. In addition, Fresh Easy offers a limited assortment of goods that are unfamiliar with US consumers. In exhibit 12 from the case, data shows that consumers visit Fresh Easy stores less frequently than its competitors. This is because competitors have weekly sales on familiar brands that US consumers want. Fresh Easy should stock familiar brands to get US consumers in the door. Once the consumer is in the Fresh Easy store, free samples and direct price comparison with well-known US brands should give Fresh Easy brands an advantage.

Psychological Distresses in International Students

Psychological Distresses in International Students Australia is an inspired destination for thousands of Indian sojourners. An Australian study was conducted to investigate the factors contributing the psychological distresses in international students in Australia. The study assessed the manner of manifestation of the psychological distress among these students. The study included 86 students who were to fill a nine self-reported questionnaire. Results revealed that worry manifested by obsessive–compulsiveness, reflection and perfectionist tendencies were the most common manifestations of psychological distress. Inability to cope was the only major factor contributing the distress. The implications of the study underscored the need for assessment of students’ mental health issues and the need for designing of suitable intervention programs.1 Over the decades, researchers have identified myriad of issues faced by expatriates during their adjustment processes abroad. The earliest study on sojourner adjustment was conducted in the year 1951 by Forstat. The researcher investigated the various adjustment problems pertaining to 182 international students enrolled in an American university. The results concluded that dating, financial issue, the English language, the academic system, housing, and food were the most common adjustment issues among the international students .2 Another earlier study was conducted by Sharma which analyzed adjustment problems among sojourners in universities in North Carolina. The problems were categorized as academic, personal, and social which were perceived by international students. The major academic problems included perceiving lectures, involvement in class modules, or working on oral and written reports. The personal problems included housing, nostalgia, financial independence, groceries. Social problems included adjusting the American customs, making contacts, and acceptance by social groups. 3 During the year 2010, the Australian authorities raised the minimum English language score (IELTS score) to 7 from 6.5. This caused havoc to many sojourners especially the nurses. The nurses, estimated to number of 400, were from India, China,  Thailand and  Philippines respectively and were faced with  deportation  from  Australia  because of the lack of English proficiency. These nurses, individually, had paid AUD 25,000/- to be a registered nurse in Australia but were now faced with no registration and no job.4 In a recent research conducted by Expat Forum on behalf of  Barclays International Banking regarding challenges faced by sojourners in Australia. The census findings highlightedloneliness (22.41%), cost of living (18.97%), cultural differences (8.62%), relationship problems (6.90%), healthcare (3.45%) and other issues (39.66%) as the major challenges faced by sojourners in Australia. It was found out that Younger generation expatriates had minor problems in learning the local language, but had a harder time making friends and settling in. On the contrary, it was also found that aged expatriates had a harder time learning the local language and had lesser difficulties in arranging for an accomodation.5 Proficiency of the English language is a gateway to cultural adjustment. In 2013, the Deccan Herald newspaper reported an incident at Sydney Adventist Hospital in Australia. The Indian male nurse was found guilty of giving dishwashing powder to an elderly patient. The nurse was alleged of giving medication from a bottle that was labeled as heart pills. Later it was found out by the Australian authorities that the bottle contained detergent powder and not heart pills. The nurse’s registration was cancelled by the Australian registration board. The board said the nurse could have confused about the bottle contents due to his poor English proficiency.6 A project was initiated by the Prince of Wales hospital to help the overseas nurses during their initial phase of work in Australia. The intention of the project was to help nurses with orientation information. The project included literature review, survey, focus groups interviews, committee-meeting with senior staff, and development of a launch strategy for the new overseas nurses in their hospital. During their survey and committee meetings, it was found out that all overseas nurses faced career and lifestyle difficulties, loneliness and homesickness as a major problem. 7 A study investigated the psychological distress among 280 Muslims migrants living in Brisbane, Australia. The Muslim participants were asked to fill questionnaires in English or Arabic language. The study results indicated that participants’ psychological distress was affected by their marital and visa statuses. it was also found that psychological distress was assumed by the perceived difficulties in English language, lack of community support, and inclination to use emotional and avoidance coping.8 A study was conducted to find out the similarity and dissimilarities in the cross-cultural adjustment among expatriates. The Q method and interviews were used for the study to assess factors that helped and hindered expatriates during their first year in the country. Q factor analysis identified three types of adjustment patterns among participants. The first type of international students identified their social and communication skills as the most helpful factors, and was more likely to report homesickness. The second group of participants preferred to seek help from their own countrymen when experiencing difficulty, and considered insufficient English skills their biggest barrier. International students in the third type thought that their commitment to study and their immediate family played the most helpful roles, and they reported more financial difficulties. Besides these differences, the three types of international students also encountered similar barriers such as cultural differences, financial difficulty, discrimination, and impractical expectations.9 A systematic review of literature was conducted in 2011 to assess the adjustment issues of international students enrolled in American colleges and universities. The review was conducted in three online databases—PsycINFO, ProQuest Education Journals, and ProQuest Psychology Journals. The Search was limited to date range (1991-2010), full text documents, and peer-reviewed journals. The findings of the study indicated that English fluency, social support, length of stay in the U.S., perceived discrimination or prejudice, establishing relationships with Americans, and homesickness were the most significant variables related to the adjustment of international students.10 The Australian health care follows most of its health care policies and regimens from the UK health care policies. Moreover, over the years the UK trained Indian nurses have been found to be immigrating to Australia due to monetary benefits. A qualitative research was done to understand the experience of overseas nurses during their registration process at UK. A total 20 overseas nurses was interviewed for the study. All participants were from India. All the nurses were registered nurses in India and had clinical experience of 2-14 years in various areas of specialties. From the verbatim of the nurses, theoretical constructs were identified. It also contained the difficulties the overseas nurses experienced inorder to get their registration in the UK. The constructs identified in the study were communication issues, cross-cultural difference, role definition, feelings of self-worth.11 Registered Nurses and Midwives from around the world are facing great difficulty to find job sponsorship in Australia. Nadeine Myer, journalist working for expatriate nurses in Australia, reported an incident of an Indian Registered Nurse who came to Australia to work as an RN with the view to find job sponsorship as soon as she completed her registration. Unfortunately, she soon found out that selected hospitals in Australia were not interested in sponsoring foreign nurses with general clinical experience. After receiving her registration in Queensland, she had only days to find a sponsor before her visa expired. She did acquire any job and had to return to her country, crushed that her dream was now over. 12

Impacts on Morphology of Porous Polymethacrylate Adsorbent

Impacts on Morphology of Porous Polymethacrylate Adsorbent Study of the effect of external heating and internal temperature build-up during polymerization on the morphology of porous polymethacrylate adsorbent Chan Yi Wei, Clarence M. Ongkudon, Tamar Kansil Abstract. Modern day synthesis protocols of methacrylate monolithic polymer adsorbent are based on existing polymerization schemes without an in-depth understanding of the dynamics of pore structure and formation. This has resulted in ineffectiveness of polymer adsorbent thereby affecting final product recovery and purity, retention time, productivity and process economics. The problems magnified in monolith scaling-up where internal heat buildup resulting from external heating and high exothermic polymerization reaction was reflected in cracking of the adsorbent. We believe that through careful and precise control of the polymerization kinetics and parameters, it is possible to prepare macroporous methacrylate monolithic adsorbents with controlled pore structures despite being carried out in an unstirred mould. This research involved the study of the effect of scaling-up on pore morphology of monolith, in other words, porous polymethacrylate adsorbents that were prepared via bulk fr ee radical polymerization process by imaging the porous morphology of polymethacrylate with scanning electron microscope. INTRODUCTION Monolithic supports are novel developing technology with high potential, more so than conventional particulate supports. A lot of researches and developments have been conducted in the past decade to utilize monolithic supports as the stationary phase in chromatographic separation due to its scalable feasibilities and better hydrodynamics. The reason lies within the presence of interconnected macro pores in monolithic sorbents that allow convective transport mechanism instead of diffusion that features as the only mean of transport mechanism for particulate support. The monolith hydrodynamic property is predominated by convective transport mechanism, an important feature of a chromatography of larger molecules that are unable to penetrate into the internal structure of particulate support [1]. Monolithic support also features lower pressure drop that varies with different pore structure orientations [2, 3]. Such feature allows for higher mobile phase flow rates to be applied which co uld enhance the separation efficiency. Despite the low absolute surface area, the increase in flow rate actually more than makes up for the lost capacity for larger molecules due to smaller specific surface area. The comparison of physical characteristics between monolithic supports and particulate supports extend much further than pore size alone [4]. Monolith is constructed in an unstirred mould that features significant lack of interfacial tension between an aqueous and an organic phase thus leading to large interconnected flow-through channels. In contrast, bead polymers prepared from identical polymerization mixtures but in a suspension polymerization process do not exhibit the same type of macroporous structure with large flow-through channels [5]. Unstirred mould also results in poorer heat transfer, thus leading to formation of temperature gradient across the monolith sorbent with nuclei forming at different rates and porous channel forming at different sizes [6]. This inherent issue magnifies during monolith scaling-up with obvious cracks observed during polymerization process. The key to achieving controlled macroporous structure is dependent on gaining control over the process kinetics within the unstirred mould (e.g. temperature of reaction) [7]. This work involved the use of scanning electron microscope to visualize the morphology of porous methacrylate monolithic polymer under different porogen concentrations (50%, 60% and 70%) and different scales (2ml and 150ml) which provided a better insight on the effect of scaling-up on pore morphology. MATERIALS AND METHOD The monolith was prepared via free radical co-polymerization of cross-linker EDMA and GMA as functional monomers. EDMA/GMA mixture was combined with an alcohol-based porogen solvent in the proportion of 35/15/50(GMA/EDMA/cyclohexanol) making a solution with a total volume of 160ml. AIBN (1% weight with respect to monomer) was added to initiate the polymerization reaction. The polymer mixture was sonicated for 20 minutes. The mixture of 2ml and 150ml were gently transferred into conical 0.8 cm Ãâ€" 4 cm polypropylene column (BIORAD) and 5.0 cm x 10 cm Econo column (BIORAD) respectively sealed at the bottom end. The top end was sealed with a parafilm sheet and placed in a water bath for 3 h at 60oC. Same method was repeated for 21/9/70 and 28/12/60 (GMA/EDMA/cyclohexanol) mixture. For conical 0.8 cm x 4 cm polypropylene column, the polymer resin was washed with 400ml methanol at room temperature to remove all porogens and other soluble matters. The polymer was then washed with 200ml d eionized water at room temperature to remove trapped air bubbles. Slightly different washing method for econo 5.0 cm x 10 cm, the polymer resin was extracted and placed in 1.0 L beaker filled with 600ml of methanol followed by placing it inside incubator shaker overnight under 140 rpm and 37oC. The next day, methanol was replaced with 600ml of deionised water under same incubation condition for 4 hours. For analysis of monolith morphology, the monolith was oven dried at 70à ¢- ¦C overnight and scanning electron microscopy was done at 15 kV using high resolution scanning electron microscope (Hitachi S-3400N, Japan) according to the manufacturer’s instructions. RESULTS AND DISCUSSION As can be observed from Fig. 1, both small scale and large scale porous polymethacrylate sorbents featured the increment of globules and pores size as the concentration of porogen was increased while monomer and cross-linked agent decreased. This phenomenon was due to the fact that an increase in the EDMA concentration led to the formation of more cross-linked nuclei and magnified by the presence of more functional monomer GMA consequently limiting their swelling which resulted in the concentration of the monomers in the swollen gel nuclei becoming lower than that in the solution. Hence, the chances of newly formed nuclei adsorbed by the macro pre-formed globules by coalescence of nuclei in abundance decreased greatly. The decline in local concentration of monomer decreased the size of the globules and thus contributing to the overall decrease in the pore size. External heating and exothermic heat buildup associated with the construction of polymethacrylate sorbent also play a role in the pore formation. The rate of initiator decomposition and free radicals formation rely heavily on temperature. The rate of radicals formation declines significantly at lower temperature than at higher temperature which results in lesser number of nuclei formed per unit time. This allows the coalescence of many nuclei that result in formation of larger preglobules and larger pore size as well as delayed formation of monolith. The same is true for pore formation at higher temperature. High level of exothermic free radical copolymerization reaction and external heating contribute greatly to immense heat buildup within the polymerization mixture. Reaction that takes place in an unstirred mould could contribute to exothermic heat buildup to a certain degree. Hence, the relative differences in the rate of radicals formation, nuclei and pore sizes can be deduced by observing the results in Fig. 2. The effect of heat buildup was profoundly increased in 150ml volume, in which cracking occurred and the monolith was considered unreliable. It was presumed that the exothermic heat build-up led to pressure build-up which eventually forced the monolith structure to break apart. FIGURE 1. Effect of both cross-linking agent and monomer concentration in the polymerization mixture on the surface morphology of methacrylate monolith. Polymerizations were carried out with a constant monomer ratio (EDMA/GMA) of 30/70; porogen concentrations of 50%, 60% and 70%; polymerization temperature of 60 à ¢- ¦C; AIBN concentration of 1% (w/w) of monomers. The SEM pictures show increased pores size with increased concentration of porogen in the polymerized feedstock. Microscopic analysis was performed at 15 kV. FIGURE 2. The effect of exothermic heat associated with the construction of large scale (150ml) polymethacrylate monolithic column on the surface morphology of methacrylate monolith. Polymerizations were carried out with a constant monomer ratio (EDMA/GMA) of 30/70; porogen concentrations of 70%; polymerization temperature of 60 à ¢- ¦C; AIBN concentration of 1% (w/w) of monomers. The SEM pictures show heterogenous globules and pores size distribution due to instant heat buildup generated from external heating and high exothermic reaction associated with the construction of polymethacrylate monolith. Microscopic analysis was performed at 15 kV. CONCLUSION There were not many differences when we compared the polymethacrylate adsorbents of both small scale and large scale monolith from 50%, 60% and 70% porogen content in terms of globules and pore sizes (Fig. 1). However, the effect of exothermic heat buildup was evident (data not shown) in large-scale monolith and without a doubt contributed to heterogeneous pore size distribution across the adsorbent compared to small scale monolith as evident from Fig. 2. Thus, further analysis is required in characterizing the pore size from different sections of the adsorbent in order to obtain a conclusive summary of the effect of scaling-up on the pore size distribution. ACKNOWLEDGMENTS We would like to thank UMS (University Malaysia Sabah) Research Priority Grant for funding this project that is essential in establishing the foundation for next step forward on the scaling up of monolithic adsorbent.

Audubon and Dillard :: essays research papers

Audubon and Dillard   Ã‚  Ã‚  Ã‚  Ã‚  A small child views a painting, giggling to his mother how it looks like an elephant soaring throughout the galaxy. An hour later a middle age man views the exact painting only to acknowledge the abstract painting as a collage of miscellaneous shapes and colors. This view is much like the comparison between John James Auburn and Annie Dillard passages, revealing opposite and similar aspects on the subject of birds.   Ã‚  Ã‚  Ã‚  Ã‚  Auburn’s passage inhabits a sense of seriousness and monotone. Incorporating direct details such as his departure from his house on the â€Å"banks of the Ohio† and observing pigeons fly â€Å"north-east to southwest† reveals his scientific train of thinking. By him pinpointing each step of his experience of watching birds, it displays how his mind functions and distinguishes situations. Show casing his down to earth tone, Auburn delivers a step-to-step encounter with the birds flying high above him. Auburn describes the flock of birds â€Å"like a torrent† that made a sound â€Å"like a noise of thunder† that came by with such a â€Å"compact mass†. Auburn’s passage consists mainly of scientific observations but the word incorporations towards the end of the passage are significant components which assist in portraying a poetic and metaphoric language. By Auburn incorporating this poetic feel, it displays his exhil aration and pure amazement of theses specimen.   Ã‚  Ã‚  Ã‚  Ã‚  Annie Dillard portrays her thoughts differently in her passage, incorporating a poetic sense that is carried through out the entire passage. Dillard describes the birds she is viewing as â€Å"transparent† and that they seem to be â€Å"whirling like smoke†. Already one could identify that Dillard’s passage has more of poetic feel over a scientific feel. This poetic feeling carries through the entire passage, displaying Dillard’s total awe of these birds. She also incorporates word choices such as â€Å"unravel† and that he birds seem to be â€Å"lengthening in curves† like a â€Å"loosened skein†. Dillard’s word choice implies that he is incorporating a theme of sewing. As she describes these birds she seems to be in awe and by using a comparison of sewing she is reaching deeper inside herself to create her emotions at the time.   Ã‚  Ã‚  Ã‚  Ã‚  In the light of the day certain objects seem different, we don’t take notice of the simple things and rush to accomplish are every day tasks.

Willie Stark as Huey Long Essay -- Literary Analysis, Robert Penn War

Robert Penn Warren’s novel, All the King’s Men depicts the tale of the rise of a political leader named Willie Stark. Many readers have speculated that Warren based Willie Stark’s character on Huey Long, a controversial, political leader from Louisiana who was prominent during the early 1900s. Although Robert Penn Warren has â€Å"repeatedly denied that Willie Stark is a fictional portrait of Huey Long,† many aspects of the novel directly correlate to the political career and personal life of Huey Long (Payne). Robert Penn Warren creates a character whose experiences and political career directly correlate to the events in Huey Long’s life. The speculations that Willie Stark is a fictional representation of Huey Long are indisputable due to the events in the novel and the characterization of Willie Stark, Huey Long came from a humble background. His father, Huey Pierce Long, Sr. was a â€Å"livestock farmer† from Winn Parish, one of the â€Å"poorest parishes in a very poor state† (Hueylong.com). Willie Stark also hailed from a modest background. Penn describes Willie as a â€Å"red-faced and red-necked farm boy† demonstrating humble roots similar to those of Huey Long (7, Warren). Willie also comes from a low class family, which enables him to identify with the common man of society. For example, during his impromptu speech in front of the convenient store, Willie uses Germanic diction and speaks to the â€Å"folks† in the town of his being called to â€Å"come home† and the importance of roots (16-17). Huey and Willie’s upbringings are clearly a connection between the two men and directly impact their personalities and decisions that they make throughout their lives. Perhaps a more concrete example of the association between the fictional Will... ... described as a man whoâ€Å"bathes daily in a swamp of corruption, including casual infidelity† (Keller). Willie Stark’s actual death in the novel symbolizes Huey Long’s â€Å"death† in the election for mayor following the unveiling of his less than acceptable actions. Although Robert Penn Warren denies the assumptions that Willie Stark was created as a fictional representation of Huey Long, the correlations between the novel, All the King’s Men and Huey Long’s life are indisputable. Warren’s development of Willie Stark’s character perfectly mimics Huey Long through his political advances, his sexual indiscretions, his personality, and his assassination in the Capital building. The historical parallels shine clearly throughout the plot of the novel, but the internal detail of All the King’s Men clearly demonstrates the connections between Huey Long and Willie Stark. Willie Stark as Huey Long Essay -- Literary Analysis, Robert Penn War Robert Penn Warren’s novel, All the King’s Men depicts the tale of the rise of a political leader named Willie Stark. Many readers have speculated that Warren based Willie Stark’s character on Huey Long, a controversial, political leader from Louisiana who was prominent during the early 1900s. Although Robert Penn Warren has â€Å"repeatedly denied that Willie Stark is a fictional portrait of Huey Long,† many aspects of the novel directly correlate to the political career and personal life of Huey Long (Payne). Robert Penn Warren creates a character whose experiences and political career directly correlate to the events in Huey Long’s life. The speculations that Willie Stark is a fictional representation of Huey Long are indisputable due to the events in the novel and the characterization of Willie Stark, Huey Long came from a humble background. His father, Huey Pierce Long, Sr. was a â€Å"livestock farmer† from Winn Parish, one of the â€Å"poorest parishes in a very poor state† (Hueylong.com). Willie Stark also hailed from a modest background. Penn describes Willie as a â€Å"red-faced and red-necked farm boy† demonstrating humble roots similar to those of Huey Long (7, Warren). Willie also comes from a low class family, which enables him to identify with the common man of society. For example, during his impromptu speech in front of the convenient store, Willie uses Germanic diction and speaks to the â€Å"folks† in the town of his being called to â€Å"come home† and the importance of roots (16-17). Huey and Willie’s upbringings are clearly a connection between the two men and directly impact their personalities and decisions that they make throughout their lives. Perhaps a more concrete example of the association between the fictional Will... ... described as a man whoâ€Å"bathes daily in a swamp of corruption, including casual infidelity† (Keller). Willie Stark’s actual death in the novel symbolizes Huey Long’s â€Å"death† in the election for mayor following the unveiling of his less than acceptable actions. Although Robert Penn Warren denies the assumptions that Willie Stark was created as a fictional representation of Huey Long, the correlations between the novel, All the King’s Men and Huey Long’s life are indisputable. Warren’s development of Willie Stark’s character perfectly mimics Huey Long through his political advances, his sexual indiscretions, his personality, and his assassination in the Capital building. The historical parallels shine clearly throughout the plot of the novel, but the internal detail of All the King’s Men clearly demonstrates the connections between Huey Long and Willie Stark.

Res Sisters Essay

* Zain Mehdi Prof: Mary Nordick English – 110. 07 Thursday, March 7th What have you learned about life on the reservation from Highway’s play? Has the play changed any of your opinions or perceptions? The play The Rez Sisters was written by Tomson Highway, a Cree from the Brochet reserve in north-western Manitoba, at the end of the twentieth century. Through a group of seven native women, Tomson Highway’s The Rez Sisters reveals the lives of aboriginal people and their community on an Indian Reservation. The play shows the harsh realities of Indian reservations of joblessness, prejudice and alcoholism.The old Aboriginal rituals have slowly been forgotten and replaced by the cliches of consumerism. While the people of the community don’t lack the attitude of get–up-and-go, they really have no place to go to. The inhabitants of the Wasy Rez are part of a community that is falling apart. Most of the people are stuck on the welfare, and just getting by on the dirt roads of the Rez. Moreover, they don’t have any control over their lives. Throughout the play, the main characters state, â€Å"Everyone here’s crazy† (Highway, 518). Since there is no work on the Rez, it makes most of the people on welfare go crazy.Some of the men have to go hundred miles to find work while the young boys have to go all the way to Toronto because it is â€Å"the only place educated Indian boys can find decent jobs these days† (Highway, 518). There is constant drinking, fighting and adultery. There is â€Å"nothing to do but drink and screw each other’s wives and husbands†¦Ã¢â‚¬  (Highway, 518). Infidelity is so common on the Rez that some of the families have â€Å"†¦fourteen of them (children)†¦Imagine†¦and all from one father† (Highway, 522). * * After reading The Rez Sisters, I was a little surprised by the life on a reserve.I was raised in Toronto, where I did not personally know any Na tive Americans and everything I knew about them was from the books. In the books it describes the Native Americans as being very religious, so when I heard about a big Pow Wow (a native gathering) and I decided to go. I learned a little about the traditional beliefs so when I moved from Toronto to Saskatoon, and it was a complete shock. You see a lot of Native Americans but you rarely see ones who actually follow the traditional beliefs. Most of them have cut their long hair, or never even grew it out.The Rez Sisters focuses on such undervalued lives and brings them up to size. * * Highway’s play is trying to deliver a social massage that if the Native Americans had enough job opportunities and freedom to live wherever they wanted, they would succeed in rebuilding their falling community. I agree with that one hundred percent because they are put down so much, that they have decided to stay in that one spot and not bother trying to work up to something much better. In The Rez sisters Philomena says that: â€Å"the place gets in your blood, you can’t get rid of it and it can’t get rid of you† (Highway, 517).I was really impressed by this statement because it shows that they really do honor their heritage a lot, but it’s difficult for them to leave the only thing they have always known. * * The story of The Rez Sisters dictates the life is tough, but poses the question: What else they are going to do? Well they can always go play bingo. Which is humorous because Highway uses bingo as a form of escape from the life on a reserve. I gained more respect for Native Americans because I never really had an idea of the life on reserves. I figured the people on the reserve followed the traditional beliefs and kept to themselves.I realized they don’t get much help from the government and are left on their own to manage, and with the people not having enough jobs, all they have left to do is kill time, and that is where the alcohol and adultery comes in. * * * * * * * * | Works Cited | * â€Å"Pride and Prejudice (1813 Novel):A  Why Was Caroline Bingley so Desperate for Social Advancement and Wealth? † Quora. N. p. , n. d. Web. < http://www. quora. com/Pride-and-Prejudice-1813-novel/Why-was-Caroline-Bingley-so-desperate-for-social-advancement-and-wealth/answer/Ashley-Knight-1> â€Å"Pride and Prejudice by Jane Austen. Pride and Prejudice. N. p. , n. d. Web. â€Å"Pride and Prejudice. † Google Books. N. p. , n. d. Web. http://books. google. ca/books? id=s1gVAAAAYAAJ â€Å"Pride and Prejudice. † SparkNotes. SparkNotes, n. d. Web. http://www. sparknotes. com/lit/pride/themes. html â€Å"Pride and Prejudice Study Guide & Essays. † Pride and Prejudice Study Guide & Literature Essays. N. p. , n. d. Web. < http://www. gradesaver. com/pride-and-prejudice/> * â€Å"Styles and Themes of Jane Austen. † Wikipedia. Wikimedia Foundation *

Compare and Contrast Essay- Speak

These themes are very prevalent with the man in Not Waving But Drowning by Steve Smith and with Melinda from Speak by Laurie Hales Anderson. In the novel Speak, the mall character, Melinda Sordid has many tough problems to face. Sometimes, she chooses not to ask for help, but merely hang back and let It pass her by. After a while, her problems almost swallow her whole. She gets the help she needs when she acts well enough to deserve it again. However, in Not Waving But Drowning, the man did not treat people very well, did not deserve help, and did not et it.He lost his battle against the world and took his own life. In both cases, the choices you make decide whether or not you get the help that you need. The man from Not Waving But Drowning, whom will be called George for the time being, and Melinda Cordons seem to have many things In common. But there are some key differences between them. For one, Melinda lives through her pain. By the end of her story, she has gotten help and is w ell on the Journey of rediscovering herself, however, George was not so lucky.George was known for messing with people and being a prankster. Even though this could've been a defense mechanism, George may have brought his tragic death or pain on himself. Whether or not George actually died or he Just had extreme depression and pain In his heart from the world is not clear, but he clearly Is not able to deal with the amount of pain that he Is dealing with. A major difference between Melinda and George would be that one lived through their painful ordeal and one did not. Another major difference between Melinda and George would be suicide.By the ay that Not Waving But Drowning implies that it was â€Å"too cold for his heart to handle†, George sounds dead. The cause of death being the fact that his heart couldn't handle the cold, but not literally. This means that he couldn't take the pain, and ended his own life. Melinda, however, only made one attempt at cutting her wrists wi th paperclips. In fact, after that being her all time low, she picked herself back up and found her own strength in her flaws. The matter of suicide is another difference that Melinda and George have.There is, however, one major similarity that George and Melinda have. Nobody saw his or her cries for help. For George, â€Å"Nobody heard him, but still he lay a Joke because he loved â€Å"larking† or messing around. Melanin's cries for help were written off as well, such as when she cried on Christmas, her sudden drop in social skills, grades, and an effort at life. They are clearly cries for help when it is realized that she longs for a friend, no matter how much she pushes people away. Melinda and George Just want some help but nobody recognizes it.The help you get depends on how you treat others and whether or not you deserve it. George and Melinda treat people in certain ways. George treats everything like a Joke, therefore his cries for help and pain is written off as a Joke. Melinda treats people as awfully as she feels inside. One mistake made her from a normal carefree girl to who she is in most of the novel Speak. Her mistake does not make her unworthy of help, so she gets it. No matters how long it takes, better late than never, help with come to those who deserve it.

Lord of the Flies – Reflection of Society

In society, people have the ability to become violent no matter the personality of the individual. Brutality is in all animal species. The only difference between humans and the animals is the ability of the human mind to control one's thoughts and actions, however, even this ability can be lost if presented with a situation that becomes so stressful or so outrageous that the mind is no longer in control. This is exactly what happens in the book Lord of the Flies by William Golding. Within this book people will find exactly how brutal a human being can become when the boys are trapped on an island with no other adults with them. This book proves without a doubt that all individuals have the natural capacity for brutality. Jack was already a destructive person before the boys ever became stranded on the island, however, he somehow is driven to kill. Jack was considered a likeable guy that was admired and feared by many. Jack could easily be described as a popular football star or a popular person in today's world. Jack, after not getting his way, decides he will form his own group of boys to be against the other group. This begins the destructive course of society much like it happens today. He takes a group and tries to overthrow the other by force and deception. Roger is just pure evil. A person can only wonder how such a boy could have been on a plane and not in a mental institute. Roger seems to be the one feared mostly for his insanity. The best example of his capacity for brutality occurs when he decides to kill Piggy with a falling boulder. In the beginning of the book, he only tossed rocks at people but never hit them. Now, as time has past, he has lost all control of his mind and now seems only to act on instinct, survival being one of the instincts he follows the most. Piggy and Ralph seem to be the only level headed people on the entire island so it might be hard to conceive them causing harm to anyone or letting their instincts of survival take control of them. However, this is exactly what happened. Ralph's group was so scared that Jack's group may attack them, when Simon came to give them some information, Ralph's group killed him. They only killed Simon because they believed he was from Jack's group or the beast coming to get them. It was not until after they killed Simon that they noticed what had happened. The strangest thing about this is that Ralph and Piggy, the most level headed of the group, participated in killing Simon. Ralph and Piggy, despite their rational behavior, became irrational when they fear the worse. Fear is definitely one of the biggest factors that cause people to take action rather than thinking about the consequences. The only character that can be considered non brutal would have to be Simon. Simon played a very important role in this book because was the one that could see what others could not see. The most ironic twist in the story was when he was killed. Before he met his fate, he was talking with the cut off head of a pig that Jack's group gave to the beast as a sort of â€Å"sacrifice. † The pig told him that the anger within them, the boys on the island, would end up destroying them. As Simon comes back to tell them what he had been told, he was killed by his own group in fear that he was the beast or part of Jack's group. The killing of Simon seemed to symbolize the end of innocence and humanity. The one person that could have saved them all was killed out of instinct and fear. William Golding probably had Simon killed because no one listens. Take a look at today's society. Why would anyone believe in a person that talks to a pig's head for advice? Also, most people today does not or will not stop and listen to those who are trying to help. Once people reach that point of no return, nothing, not even a friend could help them. This seems to be the belief of Golding. Golding has brought out much or his views on life in this book. Lord of the Flies gives a good view on today's society and how society might react in such a situation. The book also gives insight into human nature and what humans are capable of when there is nothing left but fear and survival. With Golding being part of a great war he definitely understands more than most what people will do from the battlefield. All the rules change while on the battlefield just as when the boys were stranded on the island. Golding seems to be leaving a message for all of mankind to see and perhaps a warning of things to come.