Wednesday, July 31, 2019

Handling Difficult People

How to handle difficult people General purpose: To inform Specific purpose: I will speak on how to handle difficult people Thesis statement: I will explain how to handle difficult people by first introducing the topic and discussing different ways to handle difficult people. * Attention getter: â€Å"Difficult people are your key to self empowerment, you need to learn how to cope with them, not let them dominate and affect you†. * Audience Motivation: So why do we need to handle difficult people?Well in life we face more than one difficult people and knowing how to handle them will not just make this world better but makes your life a lot easier and smooth. * Credibility: I have dealt with difficult people for over 10 years. I also took some help from my research articles and by reading a book â€Å" how to handle difficult people† by John Townsed. * Thesis -Purpose: I will inform on how to handle difficult people -Preview: at first, I will start by explain/defining dif ficult people.Second, I will discuss different measures to handle difficult people and lastly I will repeat the main points. I. First, definition A. Handle B. Difficult (Now that we have understood the meaning , we can discuss the measures. ) II. Time to discuss the measures. A. Understanding that people are difficult for reason B. May be you are difficult for him/her C. Step on his shoes and think D. Go to higher authority E. Avoid him or don’t think of him Now that we know how to handle difficult people, lets review) 1. Summary: Today we have learned that we can handle difficult people in various ways depending where and when. We learned that we have to take control of ourselves first and be careful on how you are going to react. 2. Closing: the more you confront difficult people, the easier it becomes. When you confront and handle difficult people around you, people respect for your courage, your honesty and control over yourself.Your associate, employees or co- workers fo r example and taking positive action, despite fear, is kind of courage all successful people must have to succeed. Work Cited Townsend, John. Handling Difficult People: what to do when people try to push your buttons. New York. Thomas Nelson. April 21, 2009. Print â€Å"Dumb Little Man | Tips for Life. †Ã‚  9 Useful Strategies to Dealing with Difficult People at Work. N. p. , n. d. Web. 25 Nov. 2012. .

Compare & Contrast

In And After The War Young men who are sent to a war learn the reality in a very harsh and brutal way. Both the stories, ‘The Red Convertible’ and ‘The Things They Carried’ portray the life of a young soldier and how he psychologically gets affected from all the things he had seen in the war. Tim O’Brien’s ‘The Things They Carried,’ is more specific on the experiences of a soldier during a war where as Karen Louise Erdrich focuses more on describing the post war traumatic stress in her short story ‘The Red Convertible’. One thing similar in both the narrations is the Vietnam War and its consequences on the soldiers.From the background of both the authors it’s easy to conclude that Tim O’Brien being a war veteran emphasizes more on the war scenes where as Louise Erdrich focuses mainly on the life inside the reservations, which makes sense as she has a Native American ancestry. In both the stories authors s how & compare the human emotions of a soldier before and after he gets drafted into a war. In ‘The Things They Carried,’ the story revolves around a twenty two year old First Lieutenant Jimmy Cross, a fresh graduate from New Jersey who is drafted and sent into the Vietnam War.Tim O’Brien does a true justice to the title of the story and emphasizes on the physical strength of the soldiers, and how it gets tear down with all the situations they have been put through. At one point of the story he describes soldiers carrying mementos and objects for good luck superstitiously. For an instance, Dave Jensen one of the soldiers carried a rabbit’s foot and Norman Bowker carried a thumb that had been presented to him as a gift from a soldier of the same platoon, Mitchell Sanders.He also successfully portrays the confused state of mind of a soldier, during the conversation between Henry Dobbins and Mitchell Sanders about the reason behind Sanders cutting off a th umb from a dead corpse of a fifteen or sixteen year old boy. Mitchell tries to make Henry understand that there was a moral behind what he did but Henry walks off speaking sarcastically and unconvinced. In Karen’s ‘The Red Convertible,’ the story is narrated by Lyman Lamartine who is the younger brother of Henry Junior who had just got back from Vietnam after the war was over.The whole story is narrated in a flashback unlike Tim’s ‘The Things They Carried’ where the story moves back and forth in time. For example when the author describes the things that the soldiers carried in the very beginning of the story, he mentions Ted Lavender carrying six or seven ounces of premium dope until he was shot. Karen emphasizes more on the relationship between brothers and compares the state of mind in which they were before and after the war. The younger brother Lyman hadn’t changed much where as the elder brother Henry was completely a different pe rson after he got back from Vietnam.In both the stories authors have successfully shown the life of a young and happy bachelor until he was drafted to the war and then things changed drastically. In ‘The Things They Carried,’ author narrates Lieutenant Jimmy Cross as a romantic young boy who would carry letters from a girl named Martha. He knew there was no such thing as love between them but he would still be hopeful that things might work out his way after the war is over and when he is sent back home. In the later part of the story after one of his soldier dies, he blames himself for what had happened.Though it can be argued that it wasn’t completely his fault but that’s what being in war can do to you. Whereas in ‘The Red Convertible’ author describes the life of the two brothers before and after the war without emphasizing much on what had happened during the war. In the whole story, the red convertible is used as a symbol of Henry and Ly man’s relationship. This is why I think Lyman drives the car into the lake, so he can bury all the memoirs which he had shared with his elder brother Henry.With this act, the author might want to show that Lyman wanted to move on with his life and which is why he drowned the car into the lake after Henry jumped in. After reading both the stories one might say that ‘The Things They Carried,’ emphasizes on the life of a soldier in the war and ‘The Red Convertible’ can be a continuation of the soldier’s life after the war is over and he comes back home. In ‘The Things They Carried’ the reader would observe the emotional stress a soldier goes through during the war. In essence, ‘The Red Convertible’ shows how these emotional stresses can be suicidal later in a soldier’s life.

Tuesday, July 30, 2019

Polar Opposites

English 101 March 01, 2013 Polar Opposites When my twins were infants it was much easier for everyone to acknowledge them as twins. A big clue was the double stroller. There was never a question if they were twins as long as I had that linking stroller nearby. But as they grew out of the strollers they grew into themselves. Now that they are six years old nobody would suspect them of being twins. They are complete opposites. I often joke to others that if I sent someone into a room full of kids and gave them a picture of Benjamin and asked them to pick out his twin; they would more than likely come out with a different kid altogether.The twins don’t only differ in appearance they are also very diverse in their character, and interests. Although Benjamin and Nathaniel are twins, the only thing they share in common is their birthday. The twin’s features are extreme opposites. Benjamin stands at least two inches taller than Nathaniel. He has blonde curly hair, light brown eyes, and is so fair he must wear sunscreen and a hat when out in the sun. Nathaniel on the other hand, has stick straight jet black hair, deep brown eyes, and a natural tan that will outlast the longest winters.It’s even difficult for me to buy matching clothes since the twins sizes are in found in different departments of the store. In addition to them looking more like friends than twins their characters are also much different. Benjamin will think everything through prior to jumping in and doing the event; he is very safe and will not bring any harm to himself. Nathaniel, however, has ridden in an ambulance and a helicopter being rushed to the hospital after making the wrong choices.There is no roof too high to jump off, no room to dark to enter, and no distance to far to wander. There have been many trips to the emergency room for stiches and x-rays. Benjamin has figured out that if Nathaniel didn’t get hurt doing something then he should be safe and will follow c autiously behind. Their diverse character works well for the two of them. They easily outwit their parents by Benjamin acting as a decoy while Nathaniel takes advantage of the distraction and scales the cabinets to sneak a treat for the two of them to enjoy later.The biggest difference between the two is what captivates their interests. Benjamin is very artistic and will spend hours with a new box of crayons and a pad of paper. Nathaniel on the contrary would be happier with a sword fighting off dragons. This is very helpful when it comes to the boys playing together. They rarely fight over toys, and they play together more like best friends than competitive twins. Their individualism has always been apparent. Even as infants one was always happiest in the swing while the other content with rolling around on the floor.As you can now see the twins are polar opposites. The only thing they have in common is that they shared a womb for the same nine months. Benjamin and Nathaniel will n ever have to compete to prove their individuality they were born poles apart in personality. Having unique hobbies will keep them entertained throughout the years. For Benjamin and Nathaniel being twins doesn’t mean they need to compete for attention, being twins simply means having a best friend.

Monday, July 29, 2019

Sicily Research Paper Example | Topics and Well Written Essays - 500 words

Sicily - Research Paper Example While being a highly-developed cultural nation, Sicily represents an agricultural type of economy. It specializes mainly on exporting orange and lemon. Moreover, the beautiful orchards of Sicily attract many tourists mainly to the rural regions. There are also places of great historical interest such as Necropolis of Pantalica and Valley of the Temples. Excavations keep going on the island bringing out new evidence from history. The Sicilian people are honored to be citizens of the islands, though they identify themselves as Italians but not Sicilians. â€Å"Despite the existence of major cities such as Palermo, Catania, Messina and Syracuse, popular stereotypes of Sicilians commonly allude to ruralism, for example the coppola is one of the main symbols of Sicilian identity; it is derived from the flat cap of rural Northern England, which arrived in 1800, when Bourbon king Ferdinant I had fled to Sicily and was protected by the British Navy†. (Spadi 2001) The majority of Sicilians have two native languages Italian and Sicilian. Despite the relative balance between these two languages, Italian has the dominant position - it is even taught at Universities and in schools as the language of mass media. Sicilian is mainly used by youth in every-day life. Speaking about religion it is necessary to point out that Roman Catholicism is widely spread on Sicily. The church weddings are even more popular than civil ceremonies and people usually visit church at least once a week. Jewish people, who appeared on Sicily 1,400 years ago, possess the second place in religion. The third place belongs to Islamic faith since many Arabs came to Sicily in the 19th century. And the minorities are represented by Eastern Orthodoxy, Evangelist Church and Sikhism. When it comes to national cuisine it should be mentioned that this island is called ‘God’s kitchen’. The reason for this is the abundant amount of wines, pizzas and other meals that originated on Sicily and have

Sunday, July 28, 2019

Growth Regulation Hormone Assignment Example | Topics and Well Written Essays - 3000 words

Growth Regulation Hormone - Assignment Example The specific receptor of GH (GHR) is a 638-aminoacid protein, a receptor of the extrinsic tyrosine kinase group encoded on chromosome 5. It consists of an extracellular part to bind GH, a trans-membrane sequence and a cytoplasmic part. The GHR-JAK2(Janus tyrosine kinase) activation of signalling molecules can result in different cellular responses, some of which involve the activation of transcription from target genes, while others involve metabolic changes. Introduction Growth Regulatory Hormones are those hormones secreted under the control of the endocrine system. They include the Growth Hormone, somatostatins, somatomedins (IGFs) and others which are important in regulating the various aspects of growth in the body. The most important of these is the Growth Hormone (GH) which will be studied in details in this review. It is secreted from the anterior pituitary under the command of Growth Hormone Releasing Hormone of the hypothalamus and is regulated and modulated by various othe r hormones and exert its growth promoting actions by activating various signalling pathways and cross talk mechanisms which will be elucidated in this review. In this review we will specifically focus on GH and its relation to other hormones and molecular mechanisms regulating growth in the body.[1,2,3,] Growth Regulatory Hormones: A Preview Regulation of body growth is under the control of the endocrine system, which is a coordinated system of hormones secreted by special glands in the body. These hormones regulate every aspect of growth, metabolism and sexual functions also. The chief hormones regulating body growth are: Growth hormone (GH) GH, also called the somatotrophic hormone is the key regulator of growth in the body. They increase the synthesis of various proteins and elongate the bones at the growth plates. In childhood and adolescence it causes increase in height. There are other roles also like increasing the muscle mass, calcium retention in the bones and stimulating t he immune system. Growth Hormone Releasing Hormone (GHRH) The endocrine system is finely regulated for secretion of various hormones by feedback mechanisms. Thus GHRH is secreted from the hypothalamus controls the secretion of GH secretion from the pituitary gland.This means when GH pulse is low, increased GHRH secretion cause pineal gland to revive the pulse of GH and when GH pulse is high GHRH secretion decreases. Somatostatin Also called the Growth Hormone Inhibiting Hormone (GHIH) it decreases the amount of GH in the body. It is also secreted from the hypothalamus and tightly controls the release of GH in association with GHRH. Estrogen and Progesterone These hormones start the growth spurt seen in at the beginning of puberty by activating GH. They also functions to seal off the growth plates when a person reaches his adult height. These hormones start the growth spurt seen in at the beginning of puberty by activating growth hormone. They also function to seal off the growth pla tes when a person reaches his adult height. [1,2,3,4] Background of Growth Hormone Secretion Growth Hormone is secreted in a pulsatile manner from the anterior pituitary gland. It is a peptide hormone consisting of 191 amino acid residues and contains 2disulphide bonds. The 20kda and 22kda isoforms are the important ones. There are 5

Saturday, July 27, 2019

Colombia's International Trade Research Paper Example | Topics and Well Written Essays - 4000 words

Colombia's International Trade - Research Paper Example Additionally, there are other factors responsible for the growth of the economic conditions, which include reduction of public debt, rigid government budgets, increased export activities and increased commodity prices. Contextually, improvements relating to security of business affairs and trade policies have been accountable for attracting greater Foreign Direct Investment (FDI) within its national markets, which is further expected to yield greater benefits to the economy in the long run through enriched international collaborations (Beittel, â€Å"Colombia: Background, U.S. Relations, and Congressional Interest†). Contextually, trade operations are determined to play an effective role in developing the economy on the continuous basis over the long run rather than focusing merely on short-run benefits. In this regard, the government has adopted important measures of performing international trade activities with other countries. Moreover, the government has also entered into free trade agreements with the US. Subsequently, the growth of trade operations is quite likely to facilitate in enhancing import along with export operations to a considerable extent. The country is also identified to acquire energy along with mineral resources in abundance to support its developmental needs in the near future (LTBS, â€Å"Focus on Colombia†). Prior to assessing Colombia’s economic indicators, it is essential to note that the country has been engaged in conflicts and dispute situations for a period of five decades in the recent past till the present scenario between Colombian government, the ‘National Liberation Army’ (ELN) and the ‘Revolutionary Armed Forces of Colombia’ (FARC) during the 1950s (Lopez 6-20).

Friday, July 26, 2019

Corey Worthington Delaney Case Study Example | Topics and Well Written Essays - 2500 words

Corey Worthington Delaney - Case Study Example Alfred Adler was born in Vienna in 1870, decided in childhood to be a physician and ultimately earned a medical degree from the University of Vienna. He began his medical career as an ophthalmologist but moved into general practice. By the early 1900s, he had turned to psychiatry and was invited to join Sigmund Freud's discussion group. Adler's criticisms of Freud led to his forming his own group, the Society for Individual Psychology (Boeree 2003). According to Boeree, Adler's theory of a motivating force to fulfill potential was what he called "striving for perfection." The idea was that social interest, inherent and learned, can lead to fulfillment if nurtured. Adler (Slaney, Ashby & Trippi 1995, p. 280) considers that "striving for perfection" is innate and universal and while normal individuals set difficult but attainable goals that can be adjusted, neurotics set unrealistic goals and require superiority in all things. It seems obvious in Corey' Worthington's case that his goal s are unrealistic and probably will not be realized by him, even though his agent promises him fame and fortune. It was Alfred Adler's belief that a person who is too self-interested will not be fulfilled and the failure is due to feelings of inferiority and lack of concern for others, only concern about self. Physical inferiority, Boeree (2003) notes, is brought about by outside forces and if an individual like Corey who is small for his age allows these feelings to take over, the result will be a tendency to be self-centered, antisocial, and lose support from others. A superiority complex might also develop when inferior feelings are covered up by practicing attention-getting dramatics that create a sense of power as is the case with Corey. According to T.W. Allen (1972 p. 4), the anniversary of Alfred Adler's birth in 1970 reinstated interest in his principles, which mainly had been associated with inferiority complex and were often considered a petulant contradiction of Freud. It became obvious, however, as new studies of Adler have been made, that his concept was a simple and successful method of analysis, and his Individual Psychology concept could especially benefit modern society. Adlerian Principles If Corey were willing to go into counseling in which the 12 Adlerian principles (Stein 2008; Croake 1983) are applied, he would first meet with a therapist who could perhaps (1) establish empathy by showing respect for him. In all of Corey's interactions with others in the limelight, no one ever showed him respect. If the therapist could establish a camaraderie, Corey would probably welcome the opportunity to (2) talk about his childhood, his problems adjusting to his stepfather, what happened to his father, whether he is angry that his parents show little compassion for him. When he understands why his feelings of superiority are (3) actually brought about by feelings of inferiority, he can begin to (4) move in a new direction. His mother and stepfather do not really (5) offer the connections he needs, and it will be difficult for him to make an effort to communicate with them

Thursday, July 25, 2019

Possible interview questions and answers Essay Example | Topics and Well Written Essays - 500 words

Possible interview questions and answers - Essay Example My strengths are excellent time management and organized person. Every time I am working on a project, I always make sure to complete the project well ahead of schedule. I developed a unique set of skills that make me suited for this job while in college. Firstly, I learned presentation skills. Secondly, I learned how to develop the ability of questioning and evaluating information. Thirdly, I learned to pay attention to detail elements of any performance. In my final year, we were given an accounting project to solve within a week. The task involved researching on the tax policy in the country and its impact on small businesses. I started working on the project from the first day. The move ensured that I did not have a problem in meeting the deadline. In my spare time, I like cleaning and organizing my house. This activity developed my organization skills. The activity has taught me the importance of organization. As a result, I will always pursue a deliberate and logical course of action in the workplace. As part of my volunteer activities, I participated in a workshop that we organized for inner city students. I was given the responsibility of talking about accounting and the importance of a University education. I started by introducing myself. Then I ensured that I maintained a positive body language. In addition, I listened to the feedback of the students. The talk was successful because I made a deliberate effort to create a conversation based on their interests. As a person, I believe in continuous improvement. Consequently, I would love to continue my studies. In addition, I will use my spare time to attain further accounting credentials. I believe that I can do my job and study at the same time. I will appreciate the opportunity to study ACCA. After completing my degree, I expect that I will be eligible for exceptions. As a result, I expect to take about two years to complete THE ACCA course. I will study at

Examine critically the rights of minority in a company when the notice Essay

Examine critically the rights of minority in a company when the notice to acquire their shares has been served - Essay Example Current paper focuses on the examination of the rights of minority shareholders especially in the case that the notice to acquire their shares has been served. The relevant provisions of the Company Act 2006 have been studied, along with the literature published in the particular issue. It is proved that the law gives to the minority shareholders the right to promote the protection of their interests. However, when the notice to acquire their shares has been served to the minority shareholders, then their potentials for protecting their rights are reduced. Still, there are certain legal tools that can help the minority shareholders to secure their share in a particular organization. The effectiveness of these tools is further depended on a series of factors; the perceptions of minority shareholders on their organization and their skills to manage such projects highly affect the success of the efforts of the minority shareholders to secure their position as valuable members of the org anization. Rights of minority in companies – overview The role and the rights of minority in modern corporations have been highly studied in the literature. The reference to the rights of minority shareholders in general is necessary in order to understand the potentials of the particular group of persons to seek for legal tools for protecting their rights after a notice to acquire their shares has been served. According to the most common view, minority shareholders have a major disadvantage compared to the majority shareholders: ‘they are not protected by shareholder decision rights’ (Kraakman 2009, p.195). On the other hand, minority shareholders can choose among different legal means for protecting their rights; reference can be made, for example, to the ‘sharing norms, rules and standards’ (Kraakman 2009, p.195). In this context, minority shareholders are given the chance to prohibit outside investors to enter the organization. Indeed, minority shareholders are allowed to make an offer for buying the shares of their organization before these shares are offered to the public in general (Kraakman 2009, p.195). The above right of minority shareholders is part of the ‘preemptive rights framework’ (Kraakman 2009,195). At this point, the rights of minority shareholders are considered as secured, a fact that results to the improvement of communication within the organization, meaning especially the communication between the majority shareholders and the minority shareholders, who are, by the law, vulnerable towards the majority shareholders who can control organizational decisions. However, the power of the above rule has been strongly criticized. More specifically, it is noted that the potential of minority shareholders ‘to refer to the preemption rule’ (Kraakman 2009, p.195) can be limited if such decision is developed by the shareholders. On the other hand, the common law rules seem to protect the min ority shareholders more effectively compared to the civil law rules (Mallin 2007). Still, it should be noted that the protection of minority shareholders has not always set as a priority in the UK legal system (Mallin 2007). This fact indicates the potential inability of legislators to realize the level of risks that minority shareholders have to face. Sheikh (2008) emphasizes on the weakness of the existing laws

Wednesday, July 24, 2019

The Importance of Strategic Management and its Key Elements Essay

The Importance of Strategic Management and its Key Elements - Essay Example Strategy is formed at both corporate level (what industries/markets should we operate in) and business unit level (in what segments should we compete - and how). In their research, Strategic Management: Awareness, Analysis and Change, they focus on corporate level strategic considerations. The pace of change has significantly increased in recent years and the competitive arena has enlarged, driven by, for example, larger international corporates with an appetite for new markets, reduced barriers to international trade, and technology. It is possible to say that it will be difficult to apply these strategies because they focus on the process of strategy and analysis of the environment but do not involve recommendations and clear structure of strategy development. Thompson & Martin (2005) summarize some of the key shifts' in strategic management. Both researches state that the structure of the industry will significantly effect the profit potential of the business operating in that industry. The strategy and actions of a business operating in the industry may improve or destroy the industry structure. Each business (and the relevant decision takers) must recognize and evaluate the impact, short term and long term, of actions taken on the overall industry structure and attractiveness. The resource based view of the firm is currently the dominant conceptual paradigm in strategic management, and as such would appear to offer great potential to the study of the modern organization (Dobson & Starkey 2004; Gardiner, 2005). It argues that under certain conditions a firm's unique bundle of resources and capabilities can generate competitive advantage (Cole, 1998). There are also related schools of thought that focus on the development of dynamic capabilities and knowledge as drivers of competitive advantage. Curiously, there has been little explicit attention given to the resource based view of the firm in the literature, though Pittengrew et al (2000) are recent exceptions. "The multi-business firm has the potential to create the efficient sharing and transfer of core competences across divisions so that the divisions can accommodate new strategic management tools" (Pittengrew et al 2000, p. 21t of the reason for this is again the level of analysis. The resource based v iew implicitly assumes that resources and capabilities are developed and held in a monolithic firm, whereas the reality in the organization is that some are likely to be held at a firm level while others are held at a corporate level. Thus, rather than simply analyzing corporate-level resources in terms of their potential for competitive advantage, the issue is more one of combining or leveraging them on a global basis. Strategic thinking is defined as the positioning of the firm vis--vis its competitors and its customers, and with regard to its underlying resources and capabilities. For Whittington (2000), strategy is about how those two components are brought together. The organization is a value-adding unit. Thus, it is important to realize that many of the customers and even competitors will be other units within the

Tuesday, July 23, 2019

Fluorescence and Pharmaceuticals Essay Example | Topics and Well Written Essays - 1750 words

Fluorescence and Pharmaceuticals - Essay Example fluorophore through the absorption of light energy, a transient excited lifetime with some loss of energy, and return of the fluorophore to its ground state accompanied by the emission of light. Due to the energy lost during the transient excited lifetime, the light energy emitted is always of a longer wavelength than the light energy absorbed, and that is used to study different life processes (Molecular expressions).Today, there is an increased use of these techniques encouraged mainly by labeled antibody techniques (Coons and Kaplan, 1950) and by application of fluorescent dyes as tracers in histochemical techniques. Aminoacridine compounds have special affinity for nucleic acids; a sensitive fluorescence technique in which acridine orange is used for the identification of DNA and RNA in mammalian cells (Anderson, Armstrong, and Niven, 1959). Thus using fluorescence techniques and microscopy, the precise location and dynamics of intracellular components labeled with specific fluorophore designed for the cell system and the targeted interaction as applied to a pharmaceutical agent. This domain also, as a result, includes the study of other physicochemical properties of the concerned molecule, diffusion coefficient, transport characteristics, and above all the interaction with other biomolecules present. When applied to the field of study of pharmaceuticals and their effect on cell systems, this can allow one to study the phenomenal response in fluorescence to localized cellular environmental variables, such as, variation in pH, viscosity, refractive index, ionic concentrations, membrane potentials, and solvent polarity in living cell systems and tissue preparations with extraordinarysensitivity... Anderson, E. S., Armstrong, J. A., And Niven, J. S. F., 1959. 'Observation Of Virus GrowthsWith Aminoacridines.' 9th Symposium Of The Society For General Microbiology, April,1959. Cambridge (University Press). Medical Research Service, Department Of Veterans Affairs Medical Center,1 And Oregon Health And Science University,2 Portland, Oregon, And Department Of Biochemistry, Mahidol University,Bangkok, Thailand3

Monday, July 22, 2019

Failed Products Essay Example for Free

Failed Products Essay A clothier, such as Levi Strauss, that has been around for 150 years is bound to have their share of hits and misses because fashion is terribly fickle and largely unpredictable. But this doesn’t mean you should ignore your target audience. In late 2002, Levi Strauss began a massive marketing push to launch what was being touted as one of the company’s most significant launches in history, Type 1 Jeans. The line unnecessarily went to great lengths to accentuate all those signature design details already long-associated with Levi’s, such as the red tab logo, buttons, rivets, and the two-horse back patch. To accompany the launch, Levi Strauss spent $2 million on an artsy, misguided  Super Bowl commercial  that confused viewers. Going against common practice, they placed Type 1 in retailers with inconsistent prices, ranging from $30 at a retailer like JC Penney’s to over $100 at Barney’s, with no discernable difference in quality. Levi Strauss pulled the entire line after less than two years and Type 1 proved to be the proud clothier’s most spectacular flop. How marketing can cause a product to fail? I have discussed in the past many good examples of  marketing helped a product to succeed. Apple is the first brand that comes to mind when we talk about marketing. The communication and design of the products has led to its wide spread success and Apple becoming one of the  most valuable companies in the world. But what about marketing failures? For every Apple there are many products that fail due to bad marketing strategies. In this piece I would like to discuss one of them-  The TATA Nano. - In a recent trip to Sri Lanka, I saw the TATA Nano being used extensively as a Taxi. As I asked around the average Sri Lankan felt that the Nano though a good car  did not carry enough prestige to be a passenger car. And this they felt was a result of the positioning taken by the marketing managers of the brand. As I look back at the previous campaigns for the Nano, it suddenly struck me that Nano was a consumer behavior assessment failure. The brand managers positioned the car as the next upgrade for a family of four with a two wheeler. But every such household had an aspiration to move to something better and not necessarily cheaper. Even if the consumer was in that income bracket, he aspired for something cooler. This point was not taken into consideration while the brand managers were coming up with the positioning. The next campaign focused on the tier 2 cities with bad roads and little or no inclination to move things along. This further hit the car sales. Finally now the Nano has been positioned as a cool car to have fun with. Also the colors and the powerful AC are being positioned as the differentiators along with the classic adage of better fuel efficiency that has helped its sales. I personally feel that positioning a product or service would be a strong spin off from consumer behavior and without understanding the hopes and aspirations of the masses a product is bound to not have the stickiness factor. TATA Nano was a classic case of a product manager who chooses not to respect the aspirations of his prospective consumers. A famous marketer once told me that â€Å"A man buys a car for what he wants to be and buys a house based on what he is†.

Sunday, July 21, 2019

Capm And Fama French Three Factor Model Finance Essay

Capm And Fama French Three Factor Model Finance Essay Shortly after the ground-breaking work of Markowitz on modern portfolio theory (1952) a new branch in Finance developed trying to explain the expected return on any financial asset. Soon the model with probably largest impact on the financial industry was born, the Capital Asset Pricing Model. Even after many different studies questioning the validity of the model, it is still the most used by practitioners. A lot of other models were subsequently developed on the same reasoning. Fama French Three-Factor Model is considered one of the most promising and consistent. We start this paper briefly explaining the CAPM and its shortcomings. On those grounds, we explain the Fama French model. Then, we test both models in US data from 1967 till now. Different portfolios were used, testing for the impact of size, book-to-market ratios, and the specific industry. We end up drawing conclusions on the results found. CAPM The Capital Asset Pricing Model (henceforth CAPM) has a very curious history, being built independently by Jack Treynor (1965), William Sharpe (1964), John Lintner (1965) and Jan Mossin (1966), all in the same time span of the early sixties. This work was based on the earlier revolutionary theory of Markowitz and also on Tobins Separation Theorem. The CAPM has several strong assumptions inherited from the said projects of mean variance efficiency that essentially create a perfect market environment. Investors are rational and risk averse, can borrow and lend unlimited amounts at the risk-free rate and have homogenous expectations and information about all assets returns. There are no taxes, inflation, transaction costs, no short selling restrictions and all assets are infinitely divisible and perfectly liquid. The assumptions constrain the setting for the CAPM world. They set a stage that only non-diversifiable risks are rewarded with extra returns, and since each additional asset introduced into a portfolio further diversifies the portfolio, the optimal portfolio must comprise every asset with each asset value-weighted. All such optimal portfolios comprise the efficient frontier. This makes the expected return of any asset or portfolio to vary linearly with the returns of the market portfolio, according to the following formula: Beta is the key measure as it gives the sensitivity of the excess returns of an asset or portfolio compared to the excess returns of the market portfolio. Since the unsystematic risk is diversifiable, the risk of a portfolio can be viewed as beta. The CAPM is best described by Sharpe (1988) as a simple, yet powerful description of the relationship between risk and return in an efficient market. This is a very intuitive thought process. The level of returns one expects to get is directly related to the exposure to market volatility. Stock specific error is diversified away when choosing the efficient portfolio, and as such the only source of return comes from choosing the relation your portfolio has with the market. The CAPM is so important that the standard deviation of a stock return no longer was the normally used risk measure, but rather its relation to the market returns. It is also the number one tool to find discount rates for company valuation and for portfolio management. However it has not been free of criticism. CAPM criticism After it was proposed, empirical tests were executed normally running the following regression: Where a proxy of excess market returns is used and regressed against a certain asset return. The Alpha of the regression indicates the excess return (either positive or negative) that is not explained by the CAPM. According to CAPM, as the correlation with market should completely explain its return, the apha of the previous regression should be 0. First of all, the use of a market proxy leads to Richard Rolls critique (1976). It is quite simple but revealing and it simply states the CAPM can never be tested as the exact composition of the market portfolio is not known. All proxies used might be mean variance efficient but the market might not, leading to all tests being inherently biased. Besides, the interpretation of Beta using market proxies leads to relative measures of risk, as the Beta obtained depends on the market proxy used. Besides Rolls opinion on the theory, a number of anomalies were found on the model. Characteristics such as size, earnings/price, Cash flow/price, book-to-market-equity, past sales growth had effects on average returns of stocks. These are called anomalies as they are not explained by CAPM, leading to the idea that risk is multidimensional and as such the CAPM is fundamentally wrong in its core conclusion. Eugene Fama and Kenneth French (1996) made the greatest stride, when stating that anomaly variables include a risk premium contained in the characteristics of these variables. These anomalies are mainly divided by two main factors. Size, which they explain theoretically, and relative distress, passing through the E/P and book to market as measures. Fama French Three-Factor Model Eugene Fama and Kenneth French since expanded the CAPM to the Fama-French (FF) tri-factor model (1992), which adds two variables to capture the cross-sectional variation in average stock returns associated with market: Beta, size, leverage, book to market and earnings-price ratio. This creates the following model: , which can be transformed into Where the factors added to the CAPM are the SMB (Small minus Big), a measure of the historic excess return of small caps over big caps, and HML (High minus Low), the same difference for returns of value stocks over growth stocks. This model is not as widely used as the CAPM, but we will test empirically if it performs better than the original one-factor model. Methodology After introducing the theoretical bases of these models, we will explain the methodology we used on our tests. We used data from Kenneth French ´s website, consisting of market excess returns from NYSE, AMEX, and NASDAQ firms and the values of returns from all those companies divided into size and book to market quintiles and also divided into five sections of industries Consumer Goods, Manufacturing (energy and utilities), High-tech, Healthcare and Service industry. The data is monthly from 1967 to 2010. Our variables of interest comprise the alphas of each regression (i.e., returns unexplained by the model) and the adjusted, which adjusts for the number of explanatory terms in a model unlike the regular, the adjusted increases only if new variables improve the model. We used all this data to run the normal empirical test regression expressed in (2). We will ignore Rolls critique in the tests and use a certain market proxy as in our opinion data on returns of a certain index representative of the country where investors negotiate is quite representative of market returns, as that data is amply divulged and influences all assets related. Results These are the results in regression form and the values of the alphas obtained with double standard error bands: Table 1 Regression Results from Size Portfolios (Values in parenthesis refer to the t-stat of the variable above) Looking at the alpha values of the regressions under the CAPM, the 4th quintile is the only one significant on a 95% confidence interval. All the beta values are significant and different than zero. Alpha values decrease as we go from portfolios of smaller to bigger companies, as does the of the regressions. As for the Fama French model, the values of factors are significant in all the size regressions, and the alpha value is only significant in the 5th quintile of biggest companies. The follows a similar behavior. These results seem to favour the tri-factor approach, as including the SMB variable seems to improve the quality of fit of smaller companies. The difference in the adjusted of the lowest 20% quintile between the CAPM and Fama French models is a whopping 30%, indicating that some unsystematic risks, captured by the difference between big and small firms, affect returns. In other words, these results favor Fama and French ´s model in explaining returns over the CAPM. Chart 1 Plot of CAPM alpha with double standard error band Chart 2 Plot of FF alpha with double standard error band These charts tell a more interesting story. The alpha values of the CAPM diminish a lot when going from small cap quintiles to large cap ones, from relatively high alphas to close to zero. Everything changes when using FF three-factor model where the alpha values are negative for small caps and go to positive when moving to bigger companies. The larger range of alphas in the CAPM over FF, especially in smaller companies, again indicates that returns are not fully captured by measuring only correlation with the market. Accordingly, by adding SMB this range is considerably reduced, especially in the portfolios based on the lowest 20% companies in size. Table 2 Regression Results from Book-to-Market Portfolios (Values in parenthesis refer to the t-stat of the variable above) Here the Betas of all regressions are significant. The fourth and fifth quintiles on the CAPM present a high alpha rejecting the null hypothesis that they are not significant, with a 95% confidence level. On the other hand, the FF model rejects only the lowest 20% B/M portfolios, and by the tiniest of margins. These results show evidence that Fama and French were indeed correct by considering the HML factor in their regression. In fact, the existence of significant alphas in the two highest quintiles in the CAPM, combined with the substantial differences in the adjusted 13% for the 4th quintile, almost 20% in the 5th again demonstrate that CAPM is not considering important variables in determining returns. Chart 3 Plot of CAPM alpha with double standard error band Chart 4 Plot of FF alpha with double standard error band As the B/M values increase, CAPMs results are ever worse regarding alpha. By adding double standard error bands, CAPMs portfolios based on the highest 20% value have alphas ranging from 0.1 and 0.6, very substantial values. FF performs much better, with alphas not moving far away from 0. Table 3 Regression Results from Industry Portfolios (Values in parenthesis refer to the t-stat of the variable above) Chart 5 Plot of CAPM alpha with double standard error band Chart 6 Plot of FF alpha with double standard error band Contrary to the previous analysis, the three-factor model only displays marginal improvements in the adjusted to the single-factor model when dealing with industry-based portfolios. In fact, the FF model has significant alphas in two different industries Health Care and Others while the CAPM has none. Moreover, the SMB variable seems to be irrelevant in the Consumer Goods and in other industries. We should not be surprised by these results, as the FF model was built around two ideas: small companies and those with high B/M ratios were undervalued by the market. Thus, when analyzing portfolios based on different restraints (like industry) the model will not perform much better compared to the CAPM. A note on Fama-French Three-Factor Model The FF model is an extension of the CAPM model in the sense that it uses two extra factors: SMB and HML. The first one increases the modulation of different size portfolios. The second one addresses the difference in book values of companies included in different portfolios. We suspect that SMB is in fact important whenever we are trying to predict the different performance of portfolios split using size as the criteria. The same reasoning can be used to portfolios split using book-to-market ratio as the criteria. We decided to apply this idea to the data, computing the average contribution of each factor to the total excess return of each portfolio. The resulting table is presented below. Table 4 Factor Contribution to Excess Return We can see that, as we suspected, SMB is in fact very relevant (19% on average) to explain the excess return of different portfolios split with market size criteria. That is even more critical when we are considering portfolios of smaller stocks. In those portfolios, the factor HML is not particularly important. When we move to book-to-market value different portfolios, it is HML that contributes significantly (14%), especially to high book-to-value stocks, and SMB can be neglected. Finally, when the criterion to split portfolios is neither size nor book-to-market, the two extra factors of the Fama-French model have no explanatory power on average. We can see the average weights are very close to standard CAPM. We can speculate on the difference across industries: for instance, hi-tech and health care stocks tend to have higher book-to-market ratios, and so the HML factor is relevant. It is possible that a factor like high dividend yield less low dividend yield might be robust to explain performance differences among portfolios split according to dividend yield level. We are not questioning the applicability of the Fama-French model. What we are addressing here is that each factor does not have a generalized relevant contribution to explain excess returns. In certain situations, like small cap portfolios and growth stocks, each factor in turn becomes very important. Outside of these native environments, the factors do not contribute to explain or predict excess returns. Final Remarks Throughout this work we have shown that Fama and Frenchs tri-factor model is superior to the CAPM in capturing some non-systematic anomalies not considered by the simple one-factor approach. These anomalies include the undervaluation of small firms and those with high B/M ratios. Adding variables that reflect this effect considerably improves the quality of fit of the model and eliminates loose ends as reflected by the significant alphas present in some portfolios using the CAPM. However, we must pay close attention to data, as performing a FF regression on data that does not reflect these variables, as industry does not improve the models. References and Other Bibliography Fama, E. F., French, K. R. (1992). The Cross-Section of Expected Stock Returns. The Journal of Finance, 47(2), 427-465. Fama, E. F., MacBeth, J. D. (1973). Risk, Return, and Equilibrium: Empirical Tests. The Journal of Political Economy, 81(3), 607-636. Lintner, J. (1965). The Valuation of Risk Assets and the Selection of Risky Investments in Stock Portfolios and Capital Budgets. The Review of Economics and Statistics, 47(1), 13-37. Markowitz, H. (1952). Portfolio Selection. The Journal of Finance, 7(1), 77-91. Mossin, J. (1966). Equilibrium in a Capital Asset Market. Econometrica, 34(4), 768-783. Roll, R. (1977). A critique of the asset pricing theorys tests Part I: On past and potential testability of the theory. Journal of Financial Economics, 4(2), 129-176. Sharpe, W. F. (1964). Capital Asset Prices: A Theory of Market Equilibrium under Conditions of Risk. The Journal of Finance, 19(3), 425-442. Treynor, Jack L. (1965). How to Rate Management of Investment Funds. Harvard Business Review, 43(1), 63-75.

Objectives And Goals Of Central Banks Finance Essay

Objectives And Goals Of Central Banks Finance Essay Every central bank is responsible of implementing a monetary policy which aims at ensuring economic growth, low inflation and currency stability and to do that lowering inflation is the best way for enhancing economic growth and development. So eventually every year central banks with the help of the governments set indicative inflation target and try to maintain it within the target band. In addition central banks need to ensure price stability and regulate the money flow in order to control inflation and this is done by 2 ways: Inject the market with liquidity: By tradition, the Fed uses the produce-money-and-purchase approach (PMP): the Fed produces money in their computers and uses it to buy US Treasuries from the banking system. In exchange for the US Treasuries, the Fed creates money on the account that the selling bank holds at the Fed. The ECB, in contrast, uses the produce-money-and-lend (PML) approach. It produces money and lends it to the banking system for one week or three months. The preferred collateral for these loans to banks is government bonds. As a result of PMP and PML, banks receive new base money. Or Absorb extra funds by issuing treasury bills or central bank bills. So to conclude, a compromise has to be found between decreasing interest rates and encouraging borrowing and increasing inflation. Microeconomic Objectives When a bank finds itself in shortage of liquidity in order to meet fulfill its role, the central bank can lend additional funds to avoid bankruptcy of banks or other institutions deemed systemically important or too big to fail. Central Banks must be impartial in its lending process, thats why Central Banks are independent. Central banks can also require deposit insurance from commercial banks. Some central banks will hold commercial-bank reserves that are based on a ratio of each commercial banks deposits. This is also a way of controlling money supply in the market. The rate at which commercial banks and other lending facilities can borrow short-term funds from the central bank is called the discount rate (which is set by the central bank and provides a base rate for interest rates). It has been argued that, for open market transactions to become more efficient, the discount rate should keep the banks from perpetual borrowing, which would disrupt the markets money supply and the central banks monetary policy. By borrowing too much, the commercial bank will be circulating more money in the system. Use of the discount rate can be restricted by making it unattractive when used repeatedly. A third objective of central banks can also be added. It concerns long-term strategic objectives of financial sector development including the development of an effective payments system and secure the financial markets and transactions. Functions The major functions of central banks are the following: Monetary Policy Implementation and Money Supply Control Bank of Note issue lender of last resort and governments bank interest rate interventions Clearing Agent Banker, agent and adviser to the government banking supervision and regulation The central bank can also be entrusted with other crucial functions like credit control, management of public debts, rediscounting of bills, and custodian of foreign exchangeà ¢Ã¢â€š ¬Ã‚ ¦ Monetary Policy Implementation and Money Supply Control The aim of an effective monetary policy is to create employment in the country, resist undue inflation and achieve a favorable balance of payment. Central banks implement a countrys chosen monetary policy by choosing the type of the currency and by determining the size and rate of growth of the money supply, which in turn affects interest rates. Bank of Note issue Earlier every banks notes lacked uniformity and were different from each others in color, size, value and even market goodwill. Hence the paper currency system was unstable, unreliable, and used to yield to gold and silver currencies. It was then necessary for a single bank to centrally issue currency notes for different reasons: It brings uniformity in the monetary system The central bank can exercise better control over the money supply in the country. ==> it increases public confidence in the monetary system. Monetary management of the paper currency becomes easier. Being the supreme bank of the country, the central bank has full information about the monetary requirements of the economy and, therefore, can change the quantity of currency accordingly. It enables the central bank to exercise control over the creation of credit by the commercial banks. The central bank earns money by issuing currency notes and selling them to the public for interest-bearing assets, such as government bonds. Since currency usually pays no interest, the difference in interest generates income. In most central banking systems, this income is remitted to the government. Granting of monopoly right of note issue to the central bank avoids the political interference in the matter of note issue. Lender of Last Resort The central bank is the lender of last resort in cases of banking insolvency or illiquidity, which means that it is responsible for providing its economy with funds when commercial banks cannot cover a supply shortage. In other words, the central bank prevents the countrys banking system from failing by acting as a bank to commercial banks. By acting this way, central banks: Increases the elasticity and liquidity of the whole credit structure of the economy, Enables the commercial banks to carry on their activities, Provides financial help to the commercial banks in time of emergency, Enables the central bank to exercise its control over banking system of the country. Interest rate Interventions The central bank sets the official interest rate in order to manage both inflation and the countrys exchange rate and to ensure that this rate takes effect via a variety of policy mechanisms. Typically a central bank controls certain types of short-term interest rates. These influence the stock and bond markets as well as mortgage and other interest rates. Clearing agent As the custodian of the cash reserves of the commercial banks, the central bank acts as the clearing house for these banks. Since all banks have their accounts with the central bank, the central bank can easily settle the claims of various banks against each other with least use of cash. The clearing house function of the central bank has the following advantages: It economies the use of cash by banks while settling their claims and counter-claims. It reduces the withdrawals of cash and these enable the commercial banks to create credit on a large scale. It keeps the central bank fully informed about the liquidity position of the commercial banks. Banker, agent and adviser to the governments First As a banker to government, the central bank performs the same functions for the government as a commercial bank performs for its customers. It maintains the accounts of the central as well as state government; it receives deposits from government; it makes short-term advances to the government; it collects cheques and drafts deposited in the government account; it provides foreign exchange resources to the government for repaying external debt or purchasing foreign goods or making other payments; Second as an Agent to the government, the central bank collects taxes and other payments on behalf of the government. It raises loans from the public and thus manages public debt. It also represents the government in the international financial institutions and conferences; and finally As a financial advisor, the central bank gives advice to the government on economic, monetary, financial and fiscal matters such as deficit financing, devaluation, trade policy, foreign exchange policyà ¢Ã¢â€š ¬Ã‚ ¦ Banking Supervision and Regulation In some countries a central bank controls and monitors the banking sector. It examines the banks balance sheets and behavior and policies toward consumers. Apart from refinancing, it also provides banks with services such as transfer of funds, bank notes and coins or foreign currency. The subprime crisis Markets Pre-Crisis Situation Following the 2000 burst in the dotcom bubble, investors lost confidence in the equity markets and concentrated their investments in government bonds, and secure assets. However, this lack of confidence started to turn around at the end of 2003, fueled by: à ¢Ã¢â€š ¬Ã‚ ¢ The rise of real estate prices à ¢Ã¢â€š ¬Ã‚ ¢ improving figures of world economy and in particular the U.S. economy à ¢Ã¢â€š ¬Ã‚ ¢ the intervention of the Federal Reserve, helping banks by providing liquidity at particularly easy conditions (this liquidity injection by the Federal Reserve did not solve the problem, but only postponed it to blow up again in July 2007 in the form of the subprime crisis) à ¢Ã¢â€š ¬Ã‚ ¢ The short memory of investors To fully understand the origins and the impact of the current crisis on the world economy, it is crucial to understand the subprime loans and their use in the credit derivatives and structured products world. The term subprime lending refers to the practice of making loans to borrowers who do not qualify for market interest rates due to various risk factors, such as income level, size of the down payment made, credit history and employment status. Subprime loans are considered risky for both the borrower and the lender. Its risky for the lender because borrowers usually have lower incomes and a poor record of paying debt which increases their default probability. It is also risky for borrowers. To offset the risk of defaults, lenders will charge high rates of interest to offset the risk. The high interest rates however are strenuous for borrowers which further increases their likelihood of default. Two aspects of the subprime loans could give us a clearer image of the causes of the crisis. First, borrowers not being able to pay the interest rates on their mortgages have used the continuing rise in the value of their real estate to refinance their debt, thus taking on a higher debt. Second , every couple of years the interest rates on the subprime loans is reset in a way to take into account, the moves that have taken into the market. The final piece of the puzzle is the understanding of how these local loans issued by local brokers have made their way into the hands of Wall Street firms. Brokers match prospective borrowers with lenders who further lure borrower with exotic mortgages such as no doc mortgages, which do not require any evidence of income or savings. Bing banks and wholesale lenders buy the debt, repackage them and sell them to investment banks. These investment houses further repackage these loans in mortgage backed securities (MBS) and collateralized debt obligations (CDO). These structured products very often yield high rates of return and are sold to pension funds, hedge funds and institutions. It all started out in the end of 2006 and the beginning of 2007, when the rise of real estate that started in 1997 showed sign of slowing down. Not being able to refinance their debt, subprime borrowers found themselves in default, and faced foreclosure. In March 2007, General Motors announced that earnings plunged 90% during the first 3 months. The reason was due to losses at its mortgage loan subsidiary GMAC. UBS said that it will shut down its Dillon Read Capital Management arm after the hedge fund lost 150 million Swiss Francs on subprime investments. Finally, on June 21st 2007 data was released showing the record number of foreclosure, with biggest increase in the subprime sector. These signs are the start of a crisis that would cost investors, banks and almost all financial institutions enormous losses, thus forcing central banks around the world to intervene in order to maintain the grip on the financial system. Timeline of the subprime crisis: The pre-crisis 2001: Crises of confidence on the American Stock Exchange (Internet bubble, terrorist attacks of September 2009). The Fed lowered interest rates. 2002-2004: Invention of the subprime, low loan rate credit for 2 years, then variable rate based on the market rate: for households that have a high risk of non-repayment. if they cant reimburse it, their properties are seized by the bank. 2002-2004: The low interest rate allows an increase in the real estate purchases, which leads to higher market prices 2004: higher Inflation due to rising in oil prices. 2004-2007: interest rates increased by the Fed. 2006: real estate prices went down 2007: Increase in foreclosures in the United States due to the non-repayment of subprime loans. The crisis of 2008: 8 February 2007: HSBC global investment bank was the first to announce a liquidity problem due to the non-reimbursement of the subprime loans. June 2007: Bear Stearns, the U.S. investment bank, closes two of their investment fund related to real estate market. October 29, 2007: Merrill Lynch, the U.S. investment bank, announced $ 2 billion losses. Few months later other banks (American Bear Sterns, the French Socià ©tà © Gà ©nà ©rale, UBS Switzerlandà ¢Ã¢â€š ¬Ã‚ ¦)will announce identical losses. March 16, 2008: Bear Stearns was saved from bankruptcy by JPMorgan with the help of the U.S. government. 13 July 2008: Henri Paulson announces the refinancing of Freddie Mac and Fannie Mae, the two funds that guarantee mortgages in the United States. 7 September 2008: Refinancing Fannie Mae and Freddie Mac by nationalizing them. September 15, 2008: Bankruptcy, the first of a long list started by Lehmann Brothers. Merrill Lynch was saved by Bank of America. September 16, 2008: AIG the American insurance went bankrupt.it was bought later by the U.S. government. September 26, 2008: Bankruptcy of the first retail bank, Washington Mutual was bought by JPMorgan. September 30, 2008: Dexia went bankrupt; refinanced later by the Belgian and French governments. October 3rd, 2008: American Congress Voted for the Paulson rescue plan to save the financial market. 6 October 2008: The historical fall of the CAC40 and the Dow Jones, this continued throughout the week. October 8, 2008: Major central banks have lowered their interest rates based on a mutual agreement. October 12, 2008: European Union announced a bailout of the financial market. October 15, 2008: The French Parliament voted for a bailout of the banks. Quick remind of the banks losses: Banks Losses % of total losses recapitalization Citigroup 55,1 11,0% 49,1 Merrill Lynch 52,2 10,4% bought by Bank of America UBS 44,2 8,8% 28,4 HSBC 27,4 5,5% 3,9 Wachovia 22,7 4,5% bought by Citigroup Bank of America 21,2 4,2% 20,7 Morgan Stanley 15,7 3,1% 5,6 IKB Deutched 15,1 3,0% 12,4 Washington Mutual 14,8 3,0% bought by JP Morgan Chase Royal Bank of Scotland 14,5 2,9% 23,8 JP.Morgan Chase 14,3 2,9% 9,7 Lehman Brothers 13,8 2,8% Bankrupt Deutsche Bank 10,6 2,1% 6,2 Crà ©dit Suisse 10,5 2,1% 3,0 Wells Fargo 10,0 2,0% 5,8 French banks Crà ©dit Agricole 9,0 1,8% 8,7 Fortis 7,3 1,5% Nationalized Socià ©tà © Gà ©nà ©rale 6,7 1,3% 9,6 Natixis 5,4 1,1% 12,1 BNP Paribas 3,9 0,8% 0 Dexia 1,7 0,3% Source: Bloomberg Nationalized Caisse dà ©pargne 1,2 0,2% 0 Total 501,1 352,9 What the ECB did during the crisis : 2 big phases The first phase of the turbulence During the first phase of the turbulence on the capital markets, which lasted from August 2007 to mid-September 2008 and was characterized by a systemic shortage of liquidity, the ECB has amended the terms of the provision of technical applying liquidity in normal times. It has, at the same time, fully utilizing the flexibility offered by its operational framework for the implementation of monetary policy. First, the Eurosystem has adjusted the distribution of liquidity during the period of reserve in advance by providing liquidity, compared to what it does in normal times. Thus, at the beginning of the maintenance period, ECB systematically allocated volume of liquidity than the usual theoretical reference in its main refinancing operations, while still aiming for balanced liquidity conditions at the end of the maintenance period. In this way, the total supply of liquidity throughout the period remained unchanged. These measures tended to take into account changes in the profile of the liquidity demand made by the banks. Second, the Eurosystem has also provided liquidity to the banking system through procedures open market that had been little or no use before the onset of turbulence. Particularly in response to the increased demand for bank financing in the longer term, the Eurosystem has significantly extended the average maturity of its loans to banks in the euro area. Accordingly, and to leave unchanged the total outstanding refinancing, the amount of liquidity provided through MROs in a week was reduced in corresponding proportions. The second phase of the turbulence In mid-September 2008, however, concerns about credit risk have greatly increased, tensions immediately propagated in the United States in the euro area, and the money market has virtually ceased to function. Therefore, the Eurosystem has intensified its efforts to allow solvent banks to continue their activities. And several additional measures were taken unprecedented in this direction. Thus, in mid-October, the ECB adopted as quite exceptional, a tendering procedure fixed rate full allotment for all main refinancing operations and the weekly refinancing operations more long term, with maturities ranging from one week to six months. This procedure will remain in effect as long as necessary in light of the market situation. It also increased the number and frequency of refinancing longer term by three months each additional refinancing operations, two for a term of three months and a period of six months, and introducing a special-term refinancing operation with a maturity corresponding to the duration of the period of reserve. Meanwhile, the ECB has implemented a new series of exceptional measures to temporarily expand the list of assets eligible as collateral in credit operations by the Eurosystem. Finally, the ECB has increased the supply of dollars in funding to its counterparties in conducting tenders fixed rate, full allotment and maturities from one week to three months, through swap agreements with the Federal Reserve System of the United States. These measures, which reflect the important role of strengthening intermediation taken by the Eurosystem during this turbulent period helped ensure the continued access of solvent banks to liquidity despite the monetary market failure. In addition, they have helped to reduce tensions in some segments of the money market. For example, the difference between the rates of unsecured long-term Euribor rate and index swaps on a daily basis is significantly reduced, even if it remains at a level high, significantly higher than the levels observed prior to September 2008. In practice, these measures imply that banks in the euro area can get as much euro liquidity they wish, through both our weekly operations as our futures, and this by using a wide range of assets as collateral. In total, the balance sheet of the Eurosystem increased by a total of approximately EUR 600 billion since the end of June 2007 until today, an increase in the size of 65%, the assets reflecting the sharp rise in the volume of liquidity provided and liabilities resulting from concomitant use banks to the deposit facility. These measures were effective to address the shortage of liquidity in the interbank market. They cannot, however, remove the heightened concerns regarding credit risk. In this regard, the money market conditions are not yet standardized and remain strongly affected by a high degree of risk aversion. The increase in the intermediation role of the Eurosystem has proved a necessary measure to cope with the current money market malfunction, but it can, and should, be considered as a temporary measure. The Eurosystem would naturally resume interbank lending and traditional intermediation activity of banks. The recent decision of the ECB to reduce the corridor of standing facility rates to 200 basis points around the interest rate on the main refinancing operations aims to stimulate interbank activity. That s why we observe, in this context, a reduction in the demand for bank refinancing operations during our open market and a corresponding decrease in the use of the deposit facility. We see a parallel increase in the volumes underlying the calculation of the EONIA. What the fed did during the crisis : 5 big phases Phase 1: 2007 / mid-March 2008 | From late spring, the Fed began to note that the growth in the U.S.is slowing down and targets need to be lowered. However, the inflation and underlying inflation are going up. The Fed believes that with this rate of inflation the Fed Funds rate should stay at 5.25%. But in August 2007, the subprime crisis and tensions within the bank market appeared. On 10 August 2007, the Fed announced the first corrective measures to the problems, by injecting liquidity into the market via refinancing operations. The liquidity crisis remains stable, and the Fed lowers the penalty on the discount rate. on August 17, Penalty decreased from 100 bp to 50 bp. The Fed lost any hope of a possible economic growth so they lowered their key lending rate despite a strong inflation. The rate reaches the 3% after his 5.25% in only 6 months which is one of the fastest decline the USA ever had. At the same time, the Fed put in place specific measures to facilitate access to liquidity for U.S. and international banks. Refinancing operations are going up. Then the Fed launches in December 12th the Term Auction Credit Facility (TAF). It consists in lending $ 60 billion within 28 days by accepting as collateral a large range of assets at a lower rate (discount rate). Line Swaps had been implemented with European banks. Nevertheless, the crisis has continued to expand, hitting after the interbank market, the Mortgage Backed Securities (MBS) guaranteed by Government Sponsored Enterprise (GSE, primarily Fannie Mae and Freddie Mac), and the credit and equity markets. From March 2008, the Fed further increases its liquidity loans with the creation of the Term Repurchase Transaction ($ 80 billion) and the TAF increased from $ 60 billion to $ 100 billion. Then they created the Term Securities Lending Facility (TSLF) which can lend up to $ 200 billion. In 14 of March, the Fed saved the Bear Stearns bank which was one of the best news since the beginning of the crisis. Its the first time that the Fed intervenes directly on the market, since 1929 and rescues a bank on behalf of the Too big to fail. Disturbances become wider for that time, so the Fed decided to gives access to a last resort facility to the investment banks that remain. In addition, the penalty discount rate is reduced to 25 basis points against 100 bp before the crisis. Finally, the Fed decides to lower its key lending rate, from 3% to 2.25% in March and 2% in May. Then follows minor adjustments to the lending facilities (TAF increased to $ 150 billion, with an extend in the loans maturity, larger swap lines with other central banks). The Fed believes that the financial situation has stabilized and that the U.S. economy does not need more monetary stimulus. The rate is stable until September. we should notice that the money lent by the Fed do not inflate the monetary base: they sell bonds to finance its loans. Phase 2: September 2008 / February 2009 In September 2008, the market turmoil began with the announcement of the tutelage of Freddie Mac and Fannie Mae on September 7. Between Monday 8 and Friday 12, a lot of rumors alarmed the financial markets about financial stocks and a fall in prices. Sunday 14 September 2008, the announcement of the Lehman bankruptcy, but also the acquisition of Merrill Lynch by Bank of America and the profound difficulties of AIG and Washington Mutual, will be the trigger of one of the most tempestuous financial crisis. The Fed will react very quickly to ensure market stability and mitigate systemic risks. Then, to counteract deflationary pressures, it prepares the transition to an unconventional monetary policy. Without going into the details of all measures taken between September and December 2008, the Fed will support Fannie Mae and Freddie Mac, to participate in the rescue of financial institutions significantly expand the scope of collateral accepted for loans, buy directly from financial assets (MBS, GSE debt, short-term debt) and lower at lower interest rates. The risks to the global economy is now cataclysmic Fed with the ECB, SNB, Bank of Canada and the Riksbank (Sweden) undertake the first rate cut concerted history (-50 bp), the October 8, 2008. The U.S. rate is brought to the lowest in December (band 0% / 0.25%). Remember that this phase is that the Fed reduces interest rates to a minimum and that the liquidity injected quickly becomes unsterilized. Is to do quantitative easing without saying. From September 2008, the liquidity injected exceeds the amount of Treasuries (debt U.S. State) remaining on the balance sheet of the Fed. At first, the U.S. Treasury this imbalance, but the beginning of October, the dam broke. The Fed then engages in a policy of balance sheet expansion unsterilized, with an increase in the monetary base (reserve money). It passes 900 billion to $ 1 $ 800 billion between September 2008 and March 2009. Phase 3: March 2009 / July 2010 | 1 quantitative easing QE 1 From early 2009, the Fed began to wonder how to stimulate the economy with rates at 0%? In a speech on 13 January 2009, the Bernanke Doctrine is exposed. It is anchored rate expectations at low levels, changes in the composition of assets held by the central bank to increase the size of the balance sheet of the central bank (quantitativism). At the FOMC March 18, 2009, the central bank crossed the Rubicon and one announces quantitative easing targets for unsterilized purchases of debt: debt GSE ($ 200 billion), MBS ($ 750 billion) and debt (300 billion $). The program runs until the end of 2009. In addition, the Fed introduced the famous sentence The Committee will Maintain the ranks for the target federal funds rate at 0 to 1/4 percent and anticipates economic terms That are Likely to warrant exceptionally low levels of the federal funds rate for year extended period . It is committed over a long period (years) to keep rates low. Until late 2009, the U.S. economy out of the recession, there will be more movement towards monetary policy. Speech on growth becomes increasingly positive. The amount of purchased debt agency will even reduced to $ 175 billion. From the spring, the FOMC no longer evokes purchases in its communiquà ©s. It should be noted that liquidity injections become less important, quantitative easing 1 (EQ 1) resulting in an excess supply of liquidity growing. Loan facilities are largely removed. Phase 4: August 2010 / August 2011 | First fear of double dip QE 1.2 and QE 2 The Fed noted that the growth was not as strong as expected, that the labor market remains very poor and that underlying inflation plunges more. She decided in August not to allow its balance sheet to deflate some debt maturing (ie destruction of money injected). She reinvested the money recovered in U.S. government bonds so that the long-term balance sheet size remains unchanged. There is no additional injection, just a re-investment (EQ 1.2). Continuing economic deterioration (rising unemployment, inflation at its lowest for 50 years), the Fed launches quantitative easing 2 (QE2). She decided in November 2010 to buy $ 600 billion of debt] b (from November 2010 to mid-2011) and continue to reinvest. The balance begins to swell until June 2011. FOMC releases are progressively more positive, even if economic activity is considered at best a phase of moderate recovery. Then, from the late spring, it deteriorates again. Following the August 2011 FOMC, the Fed announced that it will keep the Fed Funds rate unchanged until mid-2013 (at least 2 years). The idea is to anchor expectations on Fed Funds, thus lowering the rate to maturity longer. Phase 5: September 2011 / | The twist, QE 2.2 Fear of double dip continues to strengthen. At the end of September 2011 FOMC, the Fed announces a twist. It extends the maturity of its holdings of U.S. government bonds. This operation twist is to sell the bonds in the short term (less than 3 years) to buy long-term loans (between 6 and 30 years). The Fed will twister for $ 400 billion. This was already implemented in the 60s (1961-1963). The Fed will now reinvest the money recovered on refunds of MBS and agency debt and MBS in more in bonds to support the mortgage market in the USA. The idea is to lower interest rates in the long term, short-term ones are already almost at its lowest. These two transactions will not generate inflation balance as purchases will be offset by sales or repayments (no printing money, no QE3 but QE 2.2). Comparison  : ECB vs FED Similarities: The European System of Central Banks and the US Federal Reserve are the two biggest and most active central banks. Although they present many apparent differences, they still have several similarities: à ¢Ã¢â€š ¬Ã‚ ¢ They are independent from any direct political authority and hence are protected from political interferences. à ¢Ã¢â€š ¬Ã‚ ¢ They have decentralized structures: a system of national/regional banks coordinating with a central entity, i.e. the Board of Governors. à ¢Ã¢â€š ¬Ã‚ ¢ They modify the interest rate structure by targeting short-term money-market rates, specially the Marginal Lending Rate in the EU or the discount window in the US and the inter-bank rates (Federal Funds rate in the US). à ¢Ã¢â€š ¬Ã‚ ¢ They use the basic monetary policy tools to achieve their objectives: reserve requirements, discount window lending and open-market operations. à ¢Ã¢â€š ¬Ã‚ ¢ They share the s

Saturday, July 20, 2019

? TERROR-ISM ? :: essays research papers

A difference of ideas, opinions is opposition. When attempted to thwart the opposite opinion, and disappointed by existing set up opposition seeks public support as no objective of fight back is achieved without mass support. Normally In order to achieve public support two different types of methods are adopted. 1.  Ã‚  Ã‚  Ã‚  Ã‚  This method generally a fight for the society’s causes that is unrecognized by existing set up. In order to get the causes recognized peaceful disobedience is observed. Best example, Mahatma Gandhi and Nelson Mandela took a step, which was positive revolution, though, uncomfortable for then British regime. Most of their life made jails as their homes self-persecution and sacrifice but momentum of society support was immense as cause was for major percentage of society that created one of the highest revolutions. This method is weapon of word and disobedience though is slow yet very effective to interact with masses, inspires masses to support revolt. I call positive revolution. 2.  Ã‚  Ã‚  Ã‚  Ã‚  On the other hand negative methods are used to terrorize society in order to gain support are for causes which opposition feels is cause that society should accept and follow. This type of revolt comes into existence when both category accepter and non-accepters comprise the society. Rather support from limited members, which are to be forced on society to follow. Certain sections they choose by inspiring them to join by their teaching and other incentives, this section is normally poor and uneducated class. Terrorizing methods are used to make non-accepters to agree if not die or leave. In this case major percentage of non-accepters leave the society in fear of terror and opposition gets full support from remaining members of society. Sacrificing and persecuting others achieve this objective. To my opinion this is TERROR-ISM and negative revolution. Who create to achieve objective and gather mass support by terror are terrorists. Intensity of terrorisms and their activities succeed in the countries, which have high rate of poverty, high percentage of illiteracy and unemployment. Poor needs food and clothing, illiterate and unemployed needs source of income and terrorisms need support from deprived mass and people for sourcing income (through illegal sources as legal source is not open for them) to spread campaign. For an unemployed poor legal or illegal employment is no issue his/her issue is food and life. These illegal activities give birth to criminal objects and corruption in the countries. Nearly 60% or more poor live in human world and Asia dominates in this most.

Friday, July 19, 2019

Jonathan Larson :: essays research papers

Jonathan Larson ~ RENT (February 4, 1960 – January 25, 1996) Composer-lyricist-librettist of RENT, a rock opera inspired by "La Bohà ¨me", Jonathan Larson was born in Mt. Vernon, New York, and raised in suburban White Plains, the second child of Allan and Nanette Larson. Both Jonathan's parents loved music and theatre, and show tunes and folk music were always playing in their home. Jon and his sister Julie took piano lessons during elementary school. He could play by ear, and his teacher encouraged him to experiment with rhythm, harmony, and setting words. By high school, he was called the "Piano Man" after the enormously popular song of that title by Billy Joel; he also played tuba in the school marching band. Active in school and community theatre, Jonathan had major roles in several musicals. In 1978, Jonathan entered the acting conservatory at Adelphi University with a four-year full-tuition merit scholarship. He told an interviewer in 1993 that the program was "an undergrad version of the Yale Rep [the theatre where students of the Yale School of Drama work alongside veteran professionals]. And I was serious enough about theatre to know that this was what I wanted to do." He earned his Equity card doing summer stock and received a BFA with honors in 1982. His favorite part of the Adelphi curriculum was the original political cabarets. With classmates, Larson wrote rock-flavored attacks on the New Christian Right, Reaganomics, and the mind-numbing effects of television. He also scored EL LIBRO DE BUENAMOR (1979) and THE STEAK TARTARE CAPER (1981), musicals with lyrics and libretti by faculty members. He had a knack for pastiche and for complex ensemble numbers that used themes in counterpoint. In class, Jonathan studied the theatre of Bertolt Brecht and Peter Brook. Among his musical influences were JESUS CHRIST SUPERSTAR, the Beatles, Prince, and the Police, but the writer he admired most was Stephen Sondheim, to whom he wrote during his last year in college. The distinguished composer-lyricist answered him and became an adviser to the young songwriter. After graduation, Jonathan moved to Manhattan, went on acting auditions, performed in a nightclub trio, and composed songs for a musical version of Rudyard Kipling's "Jungle Books". In 1982 he adapted George Orwell's "1984" for the musical stage. Deeply affected by the novel, and unflappably confident, he completed book, music, and lyrics, recorded a demo tape, sent a script to director Harold Prince, and wrote to Orwell's estate.

Thursday, July 18, 2019

the prince Essay -- essays research papers

Niccolo Machiavelli The Prince In ‘The Prince’, Niccolo Machiavelli approaches, the topic of political morality and human nature in a very different way than thinkers preceding him. His argument on political morality and human nature is made very clear in the early part of his book. For him politics is war, no matter which way you look at it. â€Å"You must, therefore, know that there are two means of fighting: one according to the laws, the other with force; the first way is proper to man, the second to beasts; but because the first, in many cases is not sufficient , it becomes necessary to have recourse to the second.† (Machiavelli, p.351-352). He clearly points out towards man’s poor behavior in politics and accepts it as a fact, saying that law is a type of combat. He does not look up to god or any other divine authority for the political morality, like Augustine in his book ‘the city of god’ or try and look at things the way they should have been in the ideal state, but instead probes into the individual. He aims straight at the reality of politics. Machiavelli In his vision, to guide the actions of men in general, turns to the actions of the strong prince. Machiavelli’s higher political morality is to pursue the means to gain and hold power. He is of the view that the ruling prince should be of the sole authority and to gain this authority the prince has to command a certain fear from his citizens. Machiavelli believes that good laws follow naturally from a good military. His famous statement that â€Å"the presence of sound military forces indicates the presence of sound laws† describes the relationship between developing states and war in The Prince. Machiavelli reverses the conventional understanding of war as a necessary, but not definitive, element of the development of states, and instead asserts that successful war is the very foundation upon which all states are built. Much of The Prince is devoted to describing exactly what it means to conduct a good war: how to effectively fortify a city, how to treat subjects in newly acquired territories, and how to prevent domestic insurrection that would distract from a successful war. But Machiavelli’s description of war encompasses more than just the direct use of military force, it comprises international diplo... ...oodwill is never absolute. While Machiavelli backs up his political arguments with concrete historical evidence, his statements about society and human nature sometimes have the character of assumptions rather than observations. He concludes that with so many wretched men around virtue is hard to create in oneself. "The fact is that a man who wants to act virtuously in every way necessarily comes to grief among so many who are not virtuous." Overall, Machiavelli is very pessimistic about the abilities of the people. He feels that after examining people through history, his conclusions of wretched men is correct. The Prince is an extremely practical book because it does not tell the reader what the ideal prince is, but it explains to the reader what actions and qualities have enabled a prince to best rule. Machiavelli, however, was a realist. He was concerned with how things were in reality, not how things could be if the world was perfect. His reasoning was right for his time because his time was a time of frequent war. Today that advice would not work, for now we are a world most often ruled by laws not war.

Should Nurses Disclose Hiv Status Health And Social Care Essay

Globally human life is exposed to a premier threat of deathly HIV virus which has halted 35 million people to decease and 34 million were populating with HIV boulder clay 2011. In the recent epoch, augmented figure of I.V drug users, insecure blood transfusion and multiple sex spouses are considered high hazards for HIV transmittal, on the contrary fright of stigmatisation, deficiency of credence in the community and effects on sexual relationship are some critical factors which hinder revelation of HIV position and advancing rapid spread of HIV among vulnerable people. Continuing the secretiveness of HIV position means endangering others life. Should the septic one hazard the life of others? I assert that unwraping HIV position to sexual spouses and household will diminish hazard of HIV transmittal, better entree to medical intervention and increased chances to societal and moral support for the patient. Advocates argue that the foremost of import benefit of unwraping HIV position to sexual spouse and household is to cut down the hazard of transmittal. Although to make up one's mind when and how to portion the dismaying HIV positive position is hard but after the revelation, sexual spouses and household members become watchful to cognize their ain HIV position. To command HIV epidemics, Voluntary HIV proving and unwraping can efficaciously cut down hazard behaviours among vulnerable persons ( WHO, 2004 ) . Besides that, the most dynamic effect of Sharing HIV position with sexual spouse is involvement in preventative sexual behaviour. Sexual spouse become interested to cognize the different path of HIV transmittal to follow preventative schemes. We know that despite of the singular promotion in the field of medicine no vaccinums are available for HIV. However, the merely defensive tool is to affect the vulnerable population in precautional behaviours. Research based literatures have c oncluded that after unwraping HIV position the most frequent preventative behaviour followed by testing is addition in the usage of rubbers ( Lauretta et al, 2010 ) . Furthermore, in the survey of Niccolai, Dorst, Myer & A ; Kissinger ( 1999, as cited in Lauretta et al. , 2010 ) it was concluded that the usage of rubber among those who havenaa‚Â ¬a„?t unwrap their HIV position to sexual spouse was about 23 % comparison to 73 % among those who have disclosed. The advocates besides claim that unwraping HIV increase the inclination towards better intervention chances. Normally in our ain cultural context after sharing any alarming diagnosing, non merely patient but customarily his close relations remain in battle to place such intervention centre which is easy accessible and cost effectual. Besides, those who have already suffered from the same disease shared their experiences and battles for intervention which become helpful in designation of different agencies to acquire rid of the disease. During my clinical in civil infirmary Karachi, I have encountered two HIV positive immature patients. The parents of both patients knew the diagnosing and the male parent of one patient despite of limited income shifted his boy to Aga khan university infirmary for quality intervention. Certain intervention like HAART therapy if received in initial phase can cut down the lay waste toing consequence of HIV virus. HAART therapy decreases the patterned adv ance of HIV to AIDS by 86 % ( Sterne et al. , 2005 ) . Early designation, revelation and entree to intervention are good for the better forecast of any disease. Instrumental, informational, emotional and fiscal advantages can be achieved to better entree to medicine through unwraping HIV position to supportive web ( Waddell & A ; Messeri, 2006 ) . In the survey of Waddell & A ; Messeri ( 2006 ) it was concluded that those who did non concealed their HIV positive position from any family member the average odds of intervention was 0.64 with a high support while those who did non unwrap their Status the average odds of intervention was 0.21. In add-on, different researches have proved the relationship between the effectivity of antiretroviral therapies and HIV forecast. About 80 % of patients are now alive 10 old ages after sero-conversion due to ART ( Oppenheim, 2009 ) . HIV marks CD4 immune cells of the organic structure finally decreases the opposition power of the organic structur e and the rate of timeserving infections like Tuberculosis ( TB ) addition. Preventing the patient signifier these timeserving infections can better life quality of HIV persons. In 2010 among 34 million instances of HIV worldwide, 1.1 million instances in sub-Saharan Africa were estimated holding HIV related TB ( Suthar et al. , 2010 ) . To command the overpowering effects of HIV /AIDS revelation facilitate entree to the support commissions. There are different organisations in different states working for bettering the life criterion of HIV patients, for illustration Alaskan AIDS Assistance Association ( 2008 ) supply aid to 300 HIV single yearly in the signifier of money, medicine, occupations, lodging, and instruction in Alaska ( USA ) . Unwraping HIV position seems helpful to acquire societal and emotional support from household. Not unwraping oneaa‚Â ¬a„?s HIV position is striping patient from psychological support which is possible to be achieved through revelation. Family members, friends and equal group become more sort and credence is increased. While believing about and protecting self from the negative reaction ( e.g. favoritism, rejection, and stigmatisation ) from the community, HIV patient attempt to maintain their position secrete with a fright that if my household come to cognize about the diagnosings what will be the effects? It becomes the cause of societal isolation and produces bad impacts like emphasis, depression and low self-pride. But revelation increases societal support, household credence and beef up relationships between patients and household ( WHO, 2004 ) . These positive attacks from the household non merely cut down stress degree but besides the instrumental, moral and fiscal support from household increases the degree of self-esteem. The important others of the HIV positive patient facilitate induction and attachment to HIV intervention. Harmonizing to Norman, Chopra & A ; Kadiyala ( 2006 ) revelation of HIV position can enable the activation of household or community support web and cut down morbidity through better psychological direction. Oppositions argue that HIV position of patient should non be disclosed because unwraping the diagnosing consequences in stigmatisation and patients feel fright of rejection in household and community. Furthermore, oppositions besides claim that HIV positive patients are discriminated in the society, their rights of confidentiality are violated and revelation to sexual spouse affects sexual relationship. Due to the mentioned grounds oppositions support to maintain the diagnosing in secretiveness. Protecting others from catching disease is ethical and moral duty of every person. To diminish the opposition and increase credence of HIV positive patient, cumulative attempt are needed to convey a drastic alteration in people perception through verbally pass oning guidance and through engagement of media. As a nurse it is our premier duty to aware the people about HIV and alter the perceptual experience of people about HIV persons. Oppositions besides argue that revelation consequence sexual relationship but one time the position is shared with the sexual spouse does non intend that sexual activities can non be continued any longer. There are alternate preventative steps like usage of rubbers and serosorting to forestall the hazard of transmittal. In peculiar survey HIV positive drug users after sharing their position with their sexual spouses they were experiencing more comfy and relax with a lower anxiousness degree about HIV transmittal ( Julianne, Daniel, Sarah & A ; Tinal, 200 5 ) . Evidences exist that reding can assist to increase the frequence of revelation to sexual spouse. The effects of guidance was evaluated by a cohort surveies with the result of 56-65 % revelation rate among those who attended six reding session comparison to those who attended three Sessionss and did non unwrap their position ( Scaly et al. , 2012 ) . To reason, being the member of a wellness attention squad we can play a function of pedagogue, counsellor, and advocate. We can cut down the incidence of HIV transmittal by bettering the degree of instruction to allow the people know the path of its transmittal and bar. Today as a nurse we can play function to urge such policies which could cut down the stigma and demand to ease HIV persons morally, emotionally, and socially to guarantee more revelation of HIV position.

Wednesday, July 17, 2019

Motivation Concepts Analysis Essay

Individuals argon trigger off by legion(predicate) figures that military campaign them to the remove to fulfill their goals, expectations and desires. In the employment, I take away witnessed, including evaluating my own aimn behaviors that acquire a guiden mental philosophy, we strive to graceful non just our own expectations, merely also the expectation of our peers or the distant world. This way ofthinking send away whizz to a very competitive operative environment either to an agreeable or disagreeable environment. Emelander (2009) states that motivation indoors the run forplace entrust rely on four approximately distinctive motives, such as the military campaign to acquire and achieve expectations, shoot to marry and be involved in handle minded and/or desirable sociable groups, bewilder to curb and comprehend opportunities and ch allenges and the drive to stomach yourself and that these four drive carcass is balance between and among drives so they muckle compliment and regulate each an different(prenominal).For this reason, I chose Sigmund Freuds possible action of Drive. I chose the theory as I puzzle known umteen depictions of driven behaviors. As we fool the need to eat, breath, sleep and etc. we move throughout life needing to progress, win, to rise gameer up our expectations and desires. According to Sigmund Freuds drive theory, the theory describes the motivation let onicles of driven behavior as that all behavior was motivated and that the end of behavior was to serve the satisfaction of need, on with drive mounting as a sort of emergency warning system that action needed to be interpreted (Reeve, 2009,). In this paper I will discuss how Sigmund Freuds theory of drive would be applicable or not applicable applied in unalike solveing environments on the basis of experience. relevantI provide consultation with a healthcare organization in the north-west and at that place are circumstances that go bad to stressful and not so triple-crown moments due to individuals motives, flavor and reasons of which drives them to either comply or not comply for the needs of the duty. in that location is a great deal hype within the organization to perplex to specific social groups smoothing your importance inner the company, yet, I have witnessed that their peers drive individuals as they share similar interest, behaviors, principles and other aspects of life. Our milieu in the work place drive the need to feel a intermit of well-nighthing, the feeling that your attributes are important and pendant on for success. Emelander (2009) says that the drive to bond leads to interactions of rose-cheeked support among work teams, if supported with team-based rewards and professional person goals and while the drive to bond is say towards persons, the drive to learn relates mostly to work activities. The adhere effect is not so promising within the workplace therefore, there is unbalance and hostility.The need to acquire status, acknowledgment, superpower and status is very high in this workplace. Individuals spend an extensive time competitor with one another and by creating and resign this disturbing behavior in the workplace, there are numerous occasions where business decisions are not allocated, there is a break in communication and the long suit of completion of projects are undesirable. Status is displayed as an importance by the car you drive, the groundwork you live in, the bigger the office and granting immunity that comes from functional catchy specifically to scream the benefits by gaining a bigger check. Therefore, this leaves other being drawn to desire that lifestyle an image and work harder and adapting to motives to climb the pass no matter the backs you step on. Hence, to witness that drive which also includes physical objects and wealth, relating to concourse the necessities for survival and social relationships, concerning the acquis itions of status, accomplishments and power (Emelander, 2009). spot, they compete with the wrong side of drive in some cases, they do implement opportunities to learn and create some type of bonding relationships. The organizations is rapidly growing and their perspective is to implement the staff they have, provide them training, education opportunities and progression opportunities based on their knowledge or aggressive to learn, comprehend what youve learned and apply. While this opportunity exist, I have overheard and seen the reluctantly to grasp opportunities to avoid riding the plow of destruction due to damaging rival in the workplace.Drive can be a good attribute or element within ourselves and can be very powerful, yet, if its not befittingly match with other components to offset destructive behaviors, we can exactly continue to see companies discusses for this example to rise and have major behavioral and moral conflict. It can be damaging when one drive dominat es, ahead(p) to unbalanced personal and organization outcomes and can lead to destructive disceptation, and over-stimulate of the drive to defend to paranoia (Emelander, 2009).Nonetheless, I have worked with organizations, where the drive motives werebalanced and individuals held healthier relationships. There was a high drive to obtain higher compensable positions so that you can obtain more than money to spend on items to reflect your status, yet it was displayed as the main factor of shoving a foot in the door. The competition was moderate and due to the working environment, only a few individuals asked to cypher into new realms of status, as other employees worked hard as they enjoyed the bonuses due to their performance. Ive noticed, some batch have the driven within themselves to do just exemplary work because it is a part of them it is who they are. They enjoy working in teams, can fit in any social class scarcely due to what they show and mirror.Not applicableI work part-time at my mothers caf on the weekends and the do and living my mothers imagine is not written by drive per se. Though, I believe that drive is an element in every theory in one fashion or another. There is no need to desire current status groups, as we cater to all status groups, all demographical areas as we want to share an experience, but one that provides a relaxing, warming and spiritual atmosphere. In this place, it does not matter what car you or I drive, what social group you and I extend to or reasons to defend.I believe that the caf functions are more towards the achievement theory, which in some cases can be assumed to be a driven theory. Our pleasure is the total of our brain. We want to provide an atmosphere where people can be a part of a family of spiritual values and though our beliefs may be different from many others, this is still the place to come and distill you freely. The fear to fail is what we cause us to thrive or increase our apprehension to r egroup and execute to be better. So in terms, drive is not the only factor.ConclusionDrive is a reader trigger motivation. Drive can be either healthy or unhealthy. In my three experience and many others, Ive witness how drive can be either destructive or successful. I learned as well that drive rest alive in many theories available. We are driven to act harmonize to fulfilling our needs and wants. However, it is based on how you motivate yourself because if you cannot motivate yourself how else are you going tosucceed or even motivate others around.ReferencesEmelander, S. (2009) The iv Drive Theory in the Workplace. Retrieved from http//www.articlesbase.com/human-resources-articles/the-four-drive-theory-in-the-workplace-1650121.htmlReeve, J. (2009) sympathy motivation and emotions. Week One supplements. Retrieved from University of Phoenix, PSY320-Human Motivation.