The Influence of Using Sequentra®

SAN BEDA COLLEGE GRADUATE SCHOOL OF BUSINESS MENDIOLA, MANILA RESEARCH Methodology The Influence of Using Sequentra ® on the Johnson Controls Inc. – Global WorkPlace Knowledge Centre’s (JCI-GWK) Transaction Management and Lease Administration Services and to the Clients SUBMITTED TO: Dr. Milagros Malaya SUBMITTED BY: Mark Anthony M. Villasis DATE February 05, 2011 TABLE OF CONTENTS I. Background of the Study2 II. Statement of the Problem3 III. Objectives of the Study:   General and Specific4 IV. Significance of the Study 4 V. Review of Related Literature5 VI. Integration of Literature Findings8 VII. Assumptions of the Study8 VIII. Operational Definition of Terms9 IX. Conceptual & Operational Framework12 X. Scope and Limitations13 XI. Hypotheses13 XII. Bibliography14 XIII. Appendices15 I. Background of the Study The business process outsourcing (BPO) invests heavily with technology and infrastructure. The Philippines to date is at par with the world’s best in technology. Due to their substantial investment in systems, networks, security, and software, most global BPO providers look for highly transactional, technology-intensive work such as portfolio database management, payroll, and records management to achieve the highest profit. With the global marketplace becoming increasingly competitive and the insatiable appetite for business information, the volume of data that must be managed and assimilated is growing at an exponential rate. Global corporations require standard processes, consistent data to enable global consolidation and the ability to transform raw data into business intelligence to support better decision making. In many cases, regions, countries and even cities have different finance systems, computerized maintenance management systems, purchase order processing and call centre platforms with inconsistent data capture and coding. Just to add to the complexity the data can be in different languages. To keep track of the data collected from business operations most companies use multiple systems. Retrieving and consolidating this information in a timely manner (e. g. month end reporting) can be a costly and resource intensive task. Information management centres have been forced to provide more services whilst reducing resource costs to remain competitive. In response to these business challenges, GWK is currently using Sequentra ®, a web-based software that allows capturing the following key areas of information in one comprehensive web-based application. Lease Administration |Transaction Management | |Rent & operating expense tracking |Project milestone tracking | |Full client chart of accounts for AP integration |Project budget tracking | |Critical lease dates & options |Performance measurement | |Key property contacts |Electronic customer satisfaction surveys | |Space allocations – internal charg e backs |Document management | |Space type allocations | | |Document management capability | | II. Statement of the Problem This study will be conducted to explain the influence of Sequentra ® to the Transaction Management and Lease Administration Services of JCI-JWK and to the customers. This study was intended to answer the following questions: ) What features does Sequentra ® offer to the Transaction Management and Lease Administration Services of JCI-JWK? 2) What benefits does Sequentra ® put forward to the customers? 3) Who are the existing clients of JCI-JWK’s Transaction Management and Lease Administration Services that benefited from Sequentra ®? III. Objectives of the Study: Main Objective: To examine the effect of using Sequentra ® based on operational advantage on JCI-GWK’s Transaction Managers and Lease Administrators, and satisfaction to the customers. Specific Objectives: 1) To find out the features of Sequentra ® that contributes an operation al advantage to the Transaction Management and Lease Administration Services of JCI-JWK? ) To discover the benefits that Sequentra ® offers to the customers’ businesses? 3) To determine whether the clients of JCI-JWK’s Transaction Management and Lease Administration Services are satisfied. IV. Significance of the Study With the global marketplace becoming increasingly competitive and the insatiable appetite for business information, the volume of data that must be managed and assimilated is growing at an exponential rate. Global corporations take advantage of the current technologies, and infrastructures, require standard processes, consistent data to enable global consolidation and the ability to transform raw data into business intelligence to support better decision making. This study intends to investigate the influence of using Sequentra ® on the JCI-GWK’s Transaction Management and Lease Administration Services and to its clients. Determining the features and benefits that Sequentra ® offers and find out if the clients, in turn, is satisfied. This study will also give confidence to the Information Technology (IT) practitioners to focus their initiatives on developing toolsets that provide operational advantages. V. Review of Related Literature On Web Based Applications According to an article on http://www. articlesbase. com entitled â€Å"Benefits of Web Based Applications†, some of the core benefits of Web Based Application are the following: 1) Compatibility. Web based applications are far more compatible across platforms than traditional installed software. 2) Efficiency. The benefit of web based solution is that they not only modernizes established business practices, but also makes services and information available from any web-facilitated personal computer. 3) Highly deployable. Deploying web applications to the end users are very easy. It simply needs to send the user a website address to log into and provide them with internet access facility. 4) Security of live data. Web based applications provide an additional security by removing the need for the user to have access to the data and back end servers. 5) Cost Effective. Web based applications can considerably lower the costs because of reduced support and maintenance, lower requirements on the end user system and simplified plans. On Operational Advantage An eHow contributor wrote an article on how can the information technology (IT) change a business. According to the article, IT has brought about a revolution at the workplace since the 90s. The recent development and fast-paced adoption of Internet communication and Web-based technologies and applications has enhanced the potential of IT. IT and computer systems deployed strategically can impact the operational aspects and productivity parameters of a business. IT and attendant technologies and tools can be used to automate key business operations, functions and activities of a business. Businesses can invest in desktop computers, workstations, laptops, minicomputers, notebook computers and high-end servers for a host of organizational tasks and functions. Market-available software, computing applications, networking and other IT productivity tools installed in computers and computer systems can help professionals, workers and staff in a business to streamline work processes and execute tasks and functions faster in order to achieve organizational-defined goals and targets. Johnson Controls has developed Sequentra ® to enhance real estate management, lease administration, project management and reporting for improved productivity and decision making. This application was developed by real estate professionals who possess a unique knowledge of other applications offered in the marketplace, and a keen appreciation of the switching costs to move to web-based applications. As a result, Sequentra ® was designed to dynamically integrate with existing legacy systems and provide web-based access to certain data managed in the legacy system. This allows corporations to gain the benefits of web access without the cost and time to replace systems, retrain staff and modify processes. In addition, Sequentra ® adds new functionality and reporting capability not otherwise present in other legacy systems. (Sequentra ® Technology for the Real Estate Industry). [pic] Figure 1. Integrated Components of Sequentra ® On Customer Satisfaction About the virtual environment, the research that has addressed the influence of perceived quality on satisfaction is limited. Rolland (2003) studied the relationship between the perceived quality of a website and satisfaction with the site. The results shows that the perceived quality of the website influence positively satisfaction. This relationship has been demonstrated by Wolfinbarger and Gilly (2003) they shown that the overall quality of service, predicts strongly satisfaction of users. The same result was also confirmed by Bressolles (2004) who studied this link in a shopping experience at two sites: a site for digital products and a travel site. The results show a strong and positive relationship between the two concepts. It follows that service quality influence positively satisfaction after a purchase from a merchant site. VI. Integration of Literature Findings Through the literature review, the researcher has shown the benefits of the web-based applications, the operational advantage of adopting the information technology (e. g. adoption of Internet communication and Web-based technologies and applications), and the influence of perceived quality of a website on satisfaction. It is therefore reasonable to consider the influences of the web-based application on the operational advantage of a service and the satisfaction of the customers. Meanwhile, technology adoption generates less human contact which might result in waste of time and effort and concern about privacy and confidentiality from the customer point of view (Bitner 2001). Meyronin (2004) has indicated that electronic intermediation tends to impoverish service relations, and human interactions might create value through advanced services, so that a balance between competitive advantage and productivity gains is necessary. VII. Assumptions of the Study The assumptions of the study are as follows: 1. The researcher will identify the Sequentra ® features that have been suggested as being important for Transaction Management and Lease Administration Services. 2. The researcher will also pinpoint the Sequentra ® benefits that are known to offer business advantages to the clients. 3. The existing clients of JCI-JWK’s Transaction Management and Lease Administration Services that have benefited from Sequentra ® are ranging from regional organizations to large multi-national corporations. VIII. Operational Definition of Terms Business process outsourcing (BPO) is a subset of outsourcing that involves the contracting of the operations and responsibilities of specific business functions (or processes) to a third-party service provider. Typically categorized into back office outsourcing – which includes internal business functions such as human resources or finance and accounting, and front office outsourcing – which includes customer-related services such as contact center services. BPO that is contracted outside a company's country is called offshore outsourcing. BPO that is contracted to a company's neighboring (or nearby) country is called nearshore outsourcing. (Wikipedia) Given the proximity of BPO to the information technology industry, it is also categorized as an information technology enabled service or ITES. Knowledge process outsourcing (KPO) and legal process outsourcing (LPO) are some of the sub-segments of business process outsourcing industry. Information technology (IT) is the acquisition, processing, storage and dissemination of vocal, pictorial, textual and numerical information by a microelectronics-based combination of computing and telecommunications. The term in its modern sense first appeared in a 1958 article published in the Harvard Business Review, in which authors Leavitt and Whisler commented that â€Å"the new technology does not yet have a single established name. We shall call it information technology. † (Wikipedia) IT is the area of managing technology and spans wide variety of areas that include but are not limited to things such as processes, computer software, information systems, computer hardware, programming languages, and data constructs. In short, anything that renders data, information or perceived knowledge in any visual format whatsoever, via any multimedia distribution mechanism, is considered part of the domain space known as Information Technology (IT). (Wikipedia) Lease Administration Services. Lease Administration is the process of maintaining and utilizing pertinent information contained within the lease by either the landlord or tenant. It includes the performing of all activities that ensure lease compliance–consisting of both monetary and non monetary obligations. It includes calculating rent increases and the other party confirming calculations already made. It includes the process by which the tenant notifies the landlord of its intent to exercise an option to renew or its intent to vacate. It also includes the process by which landlords determine additional monetary charges a tenant may be liable for. It includes determining each party's insurance requirements under the lease. In short, it includes the entire process of determining obligations under the lease and ensuring such obligations are met by the other party. Lease administration by the tenant would include providing information (critical dates, rights and responsibilities) to its managers including facilities, operations, finance, and risk. These titles (responsibilities ultimately) may be filled by the same individual, or not. If not, they may be â€Å"outsourced† which contributes further at times to the confusion and the possibility of oversights in ensuring lease obligations are being met. Sequentra ® is an integrated, collaborative, web-based real estate software solution and serves as a central repository for all portfolio and project-related information. Sequentra was developed by Johnson Controls to provide clients with enhanced communications and accountability for all facets of real estate and project-related requirements. This real estate software also contains a lease administration module that, when combined with the project tracking feature, can fully integrate a client’s entire real estate database and reporting system. Transaction Management. Transaction management is the efficient management of real estate related dealings. Organizing information and tasks in a sequential order and makes the process easy to track by all parties involved with the transactions. Sending notifications to the transaction team members informing them that they have an active task. Ensuring that transactions are completed on schedule and that the transaction team works more efficiently thus reducing the cycle times. IX. Conceptual & Operational Framework Firstly, this study aims to explore the influence of using Sequentra ® based on operational advantage on the JCI-GWK’s Transaction Management and Lease Administration Services. Determine the features and benefits that Sequentra offers and find out if the clients, in turn, is satisfied. The researcher will start with three questions: First, is there an operational advantage that the Transaction Managers and Lease Administrators experienced in using Sequentra ®? Second, what benefits does Sequentra ® put forward to the clients? Third, who are the existing customers of the JCI-JWK’s Transaction Management and Lease Administration Services that have benefited from Sequentra ®. An in-depth interview method will be designed. Then, a questionnaire survey follows to validate how Sequentra ® influences the JCI-GWK’s Transaction Management and Lease Administration Services, and the client satisfaction. Figure 2. Conceptual Framework X. Scope and Limitations This study will be conducted mainly to explore the influence of using Sequentra ® on the JCI-GWK’s Transaction Management and Lease Administration Services and to the clients. The focus will be on the operational advantage of the services and the client’s satisfaction based on the benefits that Sequentra ® offers to their businesses. Data will be gathered through descriptive method. This will serve as the primary source of data collection. Secondary data will include related literature about the subject of the research. XI. Hypotheses The researcher proposes a direct relationship between using Sequentra ® and the operational advantage to the Transaction Management and Lease Administration Services of JCI-JWK and client satisfaction. H1. Using Sequentra ® which increases operation efficiency of service is positively related with client satisfaction. H2. Using Sequentra ® which increases operation efficiency of service is negatively related with client satisfaction when the services fail. XII. Bibliography Online Articles Sequentra ® Technology for the Real Estate Industry http://www. sequentra. com/solutions/sequentra. html Sequentra ® User Help Section http://www. sequentra. net/sequentra/help/user_help/new_help/! SSL! /FlashHelp/Sequentra_User_Help_Section. htm Business Process Outsourcing http://en. wikipedia. org/wiki/Business_process_outsourcing Information Technology http://en. wikipedia. org/wiki/Information_technology Biswajit Nag, Business Process Outsourcing: Impact and Implications, Bulletin on Asia-Pacific Perspectives 2004/05. Retrieved September 12, 2009 from ebsco. com Journals Bitner MJ (2001), Service and Technology: Opportunities and Paradoxes. Manage Service Quality 11(6):375–379 Bressolles G. (2004), The quality of electronic service, NETQUAL: scale, consequences and moderating variables, Ph. D. in Management Sciences, University of Toulouse I. Meyronin B (2004), ICT: the creation of value and differentiation in services. Manage Service Quality 14(2/3):216–225 Rolland S. (2003), The impact of Internet use on perceived quality and consumer satisfaction, PhD in Management Sciences, University Paris Dauphine. Wolfinbarger M. and Gilly M. C. (2003), E-TailQ: dimensionalizing, measuring and predicting retail quality, Journal of Retailing, 79, 183-198. XIII. Appendices Appendix 1. Sequentra Components SEQUENTRA COMPONENTS | |Project Module |Team assignment and milestone tracking (e-mail ticklers) | |   |Location deal point analysis | |   |Budget tracking | |   |Space programming | |   |Contacts database | | |Single repository for documents | | |Savings calculations | |Property Module |Rent stream and ex penses | | |Internal allocations | | |Lease clauses | | |Critical dates & options (e-mail ticklers) | | Contacts database | |Reporting |Standard reports library | | |Ad hoc reporting capability | | |Produces rich, highly formatted reports into Adobe Acrobat, Excel and HTML | |System Admin |Assigns flexible, secure access rights to end users | | |Capability to customize fields, e-mail notifications and project templates | | |Manage document templates library | Appendix 2. Specific Features and Benefits of Sequentra ® FEATURES |BENEFITS | |Project/Property Specific Bulletin |Cycle time for projects is greatly reduced as team members can communicate and collaborate on | |Board |projects anytime, anywhere. | |Web-based application |Does not require any software to be installed on a user’s local machine. The only requirement| | |is Internet access. | |Central repository for all project |  Lets users who are dispersed collaborate on files associated with each assignment. Users | |related files and document templates |always know where to go for the most recent version of a file. | |Flexible, secure access |Defined security levels ensure that users have access to applicable projects/properties. | |Process Automation, Milestone email |Communication is enhanced, as team members can be automatically e-mailed when an important | |Notifications |assignment milestone has been reached or falls behind schedule. | |Customizable |Can be customized to mirror your organization. | Appendix 3. Sequentra ®, an exclusive Real Estate Management tool with multiple advantages Because Sequentra ® was developed by real estate and e-business experts and is supported by Johnson Controls, a global real estate services and facilities management company, clients can count on a tool designed to help maximize the performance of their real estate assets. †¢ Seamless integration between property and project modules to save time and eliminate errors. †¢ Real-time collaboration and information sharing to reduce cycle time. †¢ 24/7 access to data from web-based browsers. †¢ Automated workflow ensures schedules are maintained and results are measurable. †¢ Project team members have access to project files and templates. †¢ Flexible access rights for file and project security. Embedded proactive email notifications enhance communication regarding project milestones. †¢ Fully customizable and scalable to fit the needs of any organization. †¢ Generate self-definable reports with a user-friendly interface. Johnson Controls operates in more than 50 countries, with thousands of dedicated real estate services and facilities management employees, and a billion square feet under management. Customers benefit from a worldwide knowledge network focused on delivering strategically-based services and solutions designed to contribute to enterprise goals. Appendix 4. List of Existing Clients Below is a partial list of GWK clients that have benefited from Sequentra ® Solutions. Agilent Technologies |Manpower | |Cadbury |Otis | |Carrier Corporation |Pratt & Whitney | |Hamilton Sundstrand |Ryder | |Henry Schein |Sikorsky | |Motorola |Sonoco | | |United Technologies Realty | | |WPP | ———————– Sequentra ® Features and Benefits Operational advantage on the JCI-GWK’s Transaction Management and Lease Administration Services Client Satisfaction

Globalisation on Jamaica Essay

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This resulted in the influx of cheaper powdered milk into Jamaica from the USA, destroying its entire dairy industry altogether and farmer selling cows to the slaughterhouse at a loss. The effect of globalization on Jamaica in this case, only fostered dependency on other nations rather than focusing on its own economic development. * The second case is caused by the â€Å"Banana Wars† between Europe and America. Britain had a long-standing trade agreement with Jamaica that favored their banana exports as a way of compensating for their legacy of colonialism. This brought about complaints to the World Trade Organization (WTO) by the USA backed up by large agricultural multinational corporations like Dole, Chiquita and Delmonte who at the time already had 95% of the world’s banana trade, citing it as unconstitutional and against WTO’s policy. The ruling of WTO in USA’s favor and an international penetration of trade into Jamaica’s biggest banana market ensured yet another downfall upon one of the country’s most profitable industries due to the lack of production efficiency. * The third case came about due to the increasing economic stagnation and poverty in Jamaica. To combat this, the government agreed to create Free Trade Zones in Kingston where governmental enforcement does not apply. Ships would unload materials cut in the USA and Jamaican workers would sew garments in huge textile assembly plants near the docks for Hanes, Brooks Brothers and Tommy Hilfiger at $30 per week. These wages were not enough to sustain their standard of living and when protests emerge, the owners simply closed down their shops and relocated to Mexico, where a cheaper work force can be found. This is an example of the â€Å"race to the bottom† stemming from the effects of globalized capitalism. As a result, it leaves Jamaican citizens with lose or lose situation to either comply with unfair demands of employers or risk unemployment. 2. 3 examples in making Global Labour fair * In order to make Global Labour fair, three sectors of society, government, multinationals and civil societies must work together using their own sets of expertise. * The first example involves the Clinton administration regarding their stance on trade in 1996. The government provided the resources and the stage to gather civil societies such as human rights NGOs and trade unions, industry leaders, and its own department of labor to discuss about responsibilities in Global Labour. Civil societies present at the meetings gave ideas and insights about developing a global code of conduct in making labour fair as well as NGOs such as the Fair Labour Association provided awareness to the public about this matter. Then multinationals and industry leaders collaborated by implementing this code of conduct throughout their supply chain, terminating contracts from their suppliers if specific labour conditions are not met. Thus forcing the improvement of Labour standards. * The second example involves the New Zealand Recognized Seasonal Employers Scheme (RSE) to relieve seasonal shortages in the NZ horticulture and viticulture industry through an overseas labour force. The NZ government collaborated with other governments of the Pacific Island Regions to provide the legal requirements and immigration processes to facilitate the influx of workers. Businesses provide employment opportunities to the migrant labour force. On top of that, the government established an evaluation board which includes NGOs such as The New Zealand Council of Trade Unions to monitor key activities, evaluate outcomes and ensuring equity and respect for migrant worker rights. The collaborations between this three sectors of society (government, businesses and civil societies), made sure the benefits of global trade between NZ and Pacific Island Countries are mutual. * The last example includes the consumer goods multinational, Unilever who has taken significant strides in sustainable living regarding the 2001 mercury poisoning in Kodaikanal, India. NGOs such as Greenpeace were responsible of raising the issue to Unilever about scrap glass containing mercury from a Unilever thermometer factory being sold to a scrap dealer located nearby. This was a breach of Unilever’s procedures as workers’ health and then environment could be adversely affected. Unilever immediately closed the plant and removed the glass scraps and the soil beneath the scrap back to the factory. After negotiations, the Indian and US governments were responsible for providing Unilever legal permits for transporting and recycling these hazardous materials in the United States. The commitment of Unilever in ethical choices combined with the cooperation of civil societies and government organizations help prevent a potential fatal disaster that protected the welfare o f international labour. 3. Joseph Stigliz’s plans or conditions for making globalization work: * Eliminating or reducing poverty through more foreign assistance from advanced industrial countries to 0.7 percent of their GDP. Although I feel it’s a good idea for countries to redistribute wealth to disadvantaged nations in order to help make globalization work, I also think that imposing a general level of GDP assistance without consideration of a country’s individual economic conditions is unfair. In recent years, we saw the EU struggling with the financial collapse of Greece and the spread of investor uncertainty throughout its member nations. In this case, I felt that a reduction of foreign aid to focus on own problems is understandable because if developing nations lose a big trade partner such as the EU due this matter, results will be worse off in the long run for both parties. * Stigliz also suggested that this foreign assistance should be given in forms of grants instead of loans as well as and an altered approach to conditionality. I agree with this Idea as we saw earlier with Jamaica, most developing countries face the same problem of debt. Jamaica was forced by the IMF and the World Bank to open up trade barriers which forced dependency on other countries and the destruction of local industries. In addition to that, most governmental spending as well as any foreign earnings from exports is used to service this debt and its ever-growing interest instead of investing in the country’s long term development. This severely limits Jamaica from restarting its own economy, making globalization benefits one sided. * Making trade fair is also on Stigliz’s agenda. For example, removing trade tariffs of developed countries before imposing them on disadvantaged countries. I agree upon this idea and my argument can be built again based on the collapse of Jamaica’s agriculture industry. Potato, onion, carrot farmers have to directly compete with USA on a level playing field by removing trade barriers. However whether this situation is equal is questionable since the USA still maintains its large agricultural subsidies to aid its own farmers forcing down prices of their own produce. This renders Jamaican farmers uncompetitive due to high borrowing costs and lack of governmental aid. I feel this is unfair as this undermines the living standards of developing countries such as Jamaica and advanced countries only benefit from the trade. Lowering trade tariffs in developed countries first allows developing countries a fair chance to adapt to changes in the economy. * Stigliz acknowledges the limitations of liberalization are important. This is shown with the Washington Consensus based upon the concepts of liberalization forged between the World Bank, IMF and U.S Treasury which focused on the downscaling of government, deregulation, and privatization. Argentina who followed the Consensus initially had expansion of investment and export volumes. However what followed was a disappointing increase in unemployment, poverty, inequality, crime and violence. I feel that the reason the consensus failed to revitalize the economy was that they employed a one-size-fits-all mentality. There was an overemphasis on GDP measures which was inefficient in measuring living standards, growth sustainability and equality. Thus these factors are ignored and contributed to the failure of the policy. Therefore, I believe that understanding the local market, government and their individual economic problems apart from just imposing liberalization is crucial in order to make globalization work. * Stigliz mentioned protecting the environment is a growing concern for globalization. The success of economic development in China and India increases the need for energy usage and the use of resources. I agree with Stigliz’s notion that the world’s environment would not able to sustain this change. This year, there was a public outcry of Beijing’s air pollution when the Air Quality Index in the city saw a staggering reading of 755. As a comparison, any reading above 100 is considered hazardous for sensitive groups. This is attributed to the exponential increase in industrial activity in China. Although China benefits from an economic boom, I feel people must realize the cost of this endeavour to its citizens as it is irresponsible to ignore the negative health effects it causes. Enforcing people to work under these conditions is no different to taking advantage of unfair Labour consistently found within the poor working conditions in developing countries.

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Motivational interviewing - Essay Example Asma’s case offers a practical example that motivational interview, which is client centered, assists the client to know her problems and develop appropriate solution to tackle the issues at hand. Motivational interviewing can be described as a client centered and directive style of counseling that is aimed at bringing behavioral change by assisting clients to explore, analyze and resolve difficult conditions. When compared to other types of counseling techniques, motivation interviewing is goal oriented and focuses directly on options that are available for behavioral change. The analysis and resolution of the difficult condition facing the client is the main focus of eliciting behavioral change (Longshore &Grills,2000). Motivational interviewing, which applies the trans-theoretical model of change, promotes behavioral change by terminating unhealthy behavior or adopting healthy behaviors through six stages of behavioral change. These are preparation, action, relapse, contemp lation, maintenance and pre- contemplation. Motivation to change is stimulated by the client and is not imposed by other people such as counselors. Other motivational approaches stress on persuasion, coercion, and constructive confrontation but unlike motivation interviewing, they fail to mobilize and identify the intrinsic values and goals that are essential to stimulate client’s behavioral change. In motivation intervention, a client’s readiness to change is a gradual product of interpersonal relationship and so a therapist should be responsive and highly attentive to the motivational signs of the client. In motivation interviewing, therapeutic relationship is like a partnership which is aimed at creating a positive environment for change (Miller &Rollnick,1991). Substance abuse has become a disturbing and dangerous contemporary trend that has affected the political, social and economic lives of people. Its implications are far fetching and many stakeholders have pro posed appropriate measures to curb it. One of the concrete measures of eradicating substance abuse and minimizing its effects is to assist people to change their attitudes and behaviors towards its use and develop habits that will deter them from using drugs. Motivation interviewing has become an essential tool of assisting people to minimize drug intake or stop the vice altogether (Block &Wulfert,2000). As a group, our role is to apply motivation interviewing principles in eradicating and minimizing the impact of substance abuse. The name of our client is Asma. Our group consists of four members, who work as a team in assisting substance abuse clients to come out of the condition through motivational interviewing. The members are Fadumo, Glyn, Sharon, and Perpetua. Fadumo played a key role by choosing an appropriate culture that the group would draw the client from. The culture chosen was Somali culture. Glyn managed to make appropriate arrangements for the meeting and later inform ed the members about it. Sharon managed to observe the interviewing environment, detected the mistakes for correction and recorded the interview. Perpetua was mandated with the role of managing issues involved with recording of the interview and communication issues such as managing email communication. The client approaches the group to assist her to stop taking substances. As

Should the potential benefits of financial system innovation deter Essay

Should the potential benefits of financial system innovation deter regulators from imposing restrictions on the activities of fi - Essay Example Firstly, it spurs economic growth by facilitating the easy flow of funds from the agents who have less or limited productive projects to agents with higher productive avenues. Secondly, the level of risk taken by an investor is reduced on account of a broader availability of assets resulting in greater diversification benefits and risk sharing. However, the above views have come under tremendous criticism with the predication that financial innovation reduces the risk exposure of the investors. The financial innovation was essentially introduced from a positive perspective but it has been seen that these innovations had a negative impact on the overall economy. Though the main purpose of this innovation was to aid the growing external debt market in U.S., it is now blamed to be the pivotal cause of the recent credit turmoil. To avoid such recurrences in the future, the regulatory bodies need to exercise a greater control over the financial markets. (Piazza, â€Å"Financial Innovatio n and Risk, The Role of Information†). Financial innovation: bane or boon Innovation is a ‘double-edged sword’. ... This blend of good and bad means the views on financial innovation is likely to be very subjective. As in the case of automobile inventions, while some view it as a gain for the economy and society; there are others, though very few in number, who believe that pollution and accidental deaths arising from this invention outweigh the societal and economic benefits. According to analysts, ‘financial innovation’ caused the recent financial crisis with the extent of culpability ranging from secondary to extreme. According to some, financial innovation has led to some very effective inventions such as the ATM machine whereas the other financial inventions like Structured Investment Vehicles (SIV’s) are a bane. The list of positive innovations includes Automated Teller Machine (ATM), debit cards, money market funds, exchanged traded funds, indexed mutual funds, currency and interest rate swaps (The Brookings Institution, â€Å"The Pros and Cons of Financial Innovationâ € ). The use of debit cards has enhanced the attractiveness of accounts as people no longer have to stand in queues to withdraw money. The introduction of financial swaps has empowered the businesses to hedge against any unforeseen circumstances. So, if a business with a huge export base is wary of depreciation of the receivables then it can take a suitable position in the currency swap. By this way, the value of its receivables remains intact. Similarly, a prospective borrower afraid of rise in interest rates, can buy forward rate agreements (FRAs) that will safeguard his position in the event of any unfavorable movement in interest rates. Financial innovation has empowered the domestic companies to raise the necessary funds or invest surpluses in the foreign capital markets.

Economics of Multinational Enterprise Assignment

Economics of Multinational Enterprise - Assignment Example One of the ways of addressing the risks is by use of operational hedging. This entails introducing a significant degree of flexible in the main operations of a firm. These include the supply chain, channels of distribution, financial positions, and marketing activities (Aghion et al 35). The objective of this strategy is to create adaptable operations that can rapidly respond to any change in the currency movement. This ensures that the fluctuations that may affect the revenues and the costs are offset. Firms can increase their profits by hedging by adopting various strategies. First, they can source materials thus lowering the costs of transportation resulting in increased profits. Another imperative way that the MNEs can adopt is the use of currency invoicing. This implies that the firm can choose a particular denomination that ensures the firm's prices, as well as those of the competitors, are affected by the exchange rate in the same way. This implies that for any firm to retain a competitive position in the market and attain sustainable profits, it can price its products using a volatile currency as long as the competitors use the same price. According to Grassman’s Law, MNEs should use a vehicle currency by considering their stability, low transaction cost, and liquidity. Based on the three aspects, the US dollar has been used as a vehicle currency for a long time by most of Multinational Enterprises. In their efforts to enter the emerging economies, the majority of MNEs undergo challenges that are associated with the legal process, legislative issues as well as technological factors. As a result, the investment flows from the rich countries to the poor countries are adversely affected. However, by initiating strategic economic policies, the investment flows can have similar effects to those of the free trade. One of the strategies that the host countries should emulate is to ensure that the home currency does not depreciate.

Proposal for the analytical report Essay Example | Topics and Well Written Essays - 1000 words

Proposal for the analytical report - Essay Example The research intends to answer the question, ‘is there a significant relationship between internal control practices and reported accounting frauds in organizations?’ It proposes to test the null hypothesis that there is no significant difference between effectiveness of internal control mechanisms and incidence of accounting fraud in organizations. Introduction Fraud defines a criminal deception that targets a financial gain. While a final independent audit may identify accounting fraud for legal actions against suspected personnel, this avenue does not recover lost finances because criminal acts attracts no remedy to the victim. The best solution for safeguarding an organization’s finances is therefore through establishment of strong internal control avenues that can detect and prevent possible frauds. This research seeks to establish a basis ensuring implementation of most appropriate internal control measures. The problem Fraud is a major threat to the going c oncern of an organization, both small scale and large scale. This identifies fraud and internal control measures towards controlling fraud as essential elements to organizational management. A number of internal control measures exist for detecting and preventing fraud such as application of checks and balances on offices that deals in finance based issues like planning, authorizing, and accounting offices. Frequent reconciliation of accounts, restricting access to authorized personnel, strong policies and discouraging conspiracy are other identified control avenues (Hogan, 2011). Brainstorming to evaluate possible fraud or fraud indicators and monitoring compliance to codes of conducts as set by organizations also facilitates detection and prevention of fraud (Aicpa, 2005). Such measures are however hard to understand if fraud is deeply rooted in an organization, such as in circumstances where an organization’s management applies fraud in external ventures. This therefore id entifies far-reaching effects of fraud that extends to industry’s performance and consumers economic factors. Fraud is however both a criminal and immoral act that should not exist in professional practice. Effective measures are therefore necessary to ensure that possible threats of fraud are identified and eliminated. Findings from this research will be instrumental to professional personnel that is charged with the responsibility of safeguarding an organization’s finances. Such are accounts officers and the chief accounting officer, internal auditors, organizations’ managements and external auditors. The accounts officers will find the research results helpful in identifying potential threats to fraud for necessary actions such as reporting to senior management officers. The chief accounting officers is however a chief beneficiary of the research findings that will help in controlling the vice in his docket. The management whose role involves disciplining emp loyees and overly supervising an organizational activities and processes need to be informed about fraud control because they are the organization’s custodians to external stakeholders. Internal and external auditors will however find the results helpful in identifying inconsistencies in statements and in recommending appropriate measures

Design and Entrepreneurship Schools of Strategy - Comparative Analysis Research Paper

Design and Entrepreneurship Schools of Strategy - Comparative Analysis - Research Paper Example Strategy formation is establishing a fit between the strengths and weaknesses of an organization and the opportunities available in its external environment.   Christensen, Andrews, Bower, Hamermesh and Porter (1982) are among the major proponents for the design school strategy The model of strategy formation of the design school is one in which leaders seek to attain a fit between an organization’s internal capabilities and the possibilities external to the organization (i.e., the need to bring together the organization’s internal state with its external expectations). The design school model proponents place primary emphasis on the appraisals of the external and internal situations.   Appraising the external situations is accomplished by uncovering the threats and opportunities in the environment.   Appraising the internal situations is accomplished by revealing the strengths and weaknesses of the organization (Wang 2008, p. 643). The external environment includ es technological, economic, social and political aspects of a company’s environment and also includes issues of forecasting and scanning.   The design school proponents also consider the role played by managerial values and organizational social responsibility important in the process of strategizing.   Mintzberg et al (1998) provided a diagram detailing the process in the design school. Rumelt (1997), one of the proponents of this school, proposed a framework to evaluate strategy making.   In his framework, a formulated strategy should be consistent in terms of the goals and policies of the organization and must be adaptive to the changes in the organization’s environment. Rauch et al (2004) examined this framework through collected empirical evidence and found that the framework has a positive effect on strategic outcomes. The proponents of the entrepreneurial school focus on the leader and his vision. The central construct of the entrepreneurship school is a vision: a mental representation of strategy created or at least expressed in the head of the leader.

Metropolitan Opera House Essay Example for Free

Metropolitan Opera House Essay Maria Callas gives an outstanding performance at the Metropolitan Opera House in New York. This is unsurprising as Callas was one of the most famous sopranos of her time and a recognised Diva. The Newspaper review is gushing in praise of Callas who gives a powerful and convincing performance. It is noted that the reviewer had some reservations on a previous performance but the performance of Violetta in La Traviata left the reviewer in no doubt that Callas gave a performance that was the best interpretation he had ever witnessed in all his time attending and reviewing operas. The performance as Viloletta is a more congenial part than previously seen by the reviewer and it has so much passion and personal interpretation that it is difficult to distinguish between the dramatic and vocal performances. The whole performance seems real and the acting and singing become one, the perfect operatic qualities. The words in an opera can seem disjointed and difficult to express when read without music and it is Callas who brings the script and plot alive by sewing all the parts together to make an outstanding dramatic performance in conjunction with the musical performance by the orchestra.. She still had the slight wobble in her voice which is evident on the CD in some places, for example at 1:19 and 02:00 when the singing becomes fortissimo. However her reputation as a performer was so great that her fans and the reviewer where able to forgive this perceived fault and even claim that it added to the intensity of her performance. It shows emotion in the voice and this adds to the tragic quality of the roles often played by female opera singers. The CD shows a wide range of singing from the initial pianissimo start and the pizzicato accompaniment from the string section building up to 1:13 when Callas builds to an ornament at 1:19. The whole performance is very smooth and displays and you can hear the passion in Callas’ voice when she expresses her feelings. The reviewer mentions her striking presence which is an important part of opera throughout the world. Callas’ presence was reinforced by her status as a Diva and her reputation was worldwide. She had performed for the previous 7 years at La Scala in Milan to triumphant reviews and had gained publicity 4 years earlier when her appearance changed dramatically having lost 30 kilos in weight. She was married to a prominent businessman and Opera lover and was on the verge of starting a relationship with a world famous shipping magnate. Callas was portrayed as a Diva in much the same way as someone like Madonna is today and the public interest in her life only served to fuel her presence and reputation on the stage. Opera is performance on a grand scale so much so that opera venues are some of the grandest, most iconic and well recognised places in the world, for example the Sydney Opera House. Those who succeed in such an environment must be larger than life personalities. Maria Callas was certainly a Diva and her life was followed and reported by fans and the press alike. Her life was lived in the glare of publicity and even though she led a private life following her retirement in 1965 she still attracted great interest when she made public appearances. It is easy to see the appeal of her character and that many people liked to think of her as a tragic heroine due to difficult events in her life. In many ways this mirrored the Operatic roles she played with so much conviction it sometimes blurred the boundaries between reality and performance.

Effect of Expansion Monetary Policy on Income Levels

Effect of Expansion Monetary Policy on Income Levels As the consequence of recession in 2008, most of the central banks in the world became more and more worried that the traditional instrument of monetary policy-controlling interest rate was insufficient to stimulate the demand (Sloman and Wride, 2012, pp. 618). The alternative of monetary policy considered was to increase the money supply, which is also known as quantitative easing. This process would be predicted to have numerous complex effects on both goods and financial markets. In order to generalize and examine the specific influences of the monetary policy on the interest rate and real output (or national income), John Hicks (1937) had developed his simple model, the IS-LM, by taking both markets into account simultaneously. The intersection of the IS and the LM curves (or IS-LM) is a general equilibrium in the goods and financial markets. According to Gregory Mankiw (2012), the IS-LM model is an excellent interpretation to analyse any changes in the level of income when the p rice is unchanged in the short-run. Therefore, this essay is written on purpose of illustrating and explaining deeply how the money supply is working and also points out some circumstances in which this process cannot affect the level of income based on the IS-LM framework.     Ã‚   The IS-LM model is a macroeconomic tool that interprets the link between the interest rate and the real level of income in the goods and financial market (Robert Gordon, 2009). In the goods market, the IS curve is derived from the Keynesian injection and withdrawals model. From the four-quadrant diagram 1 that at the level of income Y in the 1stquadrant, there is a specific investment I in the 2ndquadrant. As for simplicity, it is assumed that the investment I is only injection and savings S is only leakage so that the equilibrium is in position I=S. At I level of investment, the interest rate is set at r in the 3rdquadrant, and the first point on the IS curve is at level Y of income and r of interest rate. Since the interest rate decreases up to r1 in the 3rdquadrant, investment will increase to I1 and savings will rise to S1 in the 2ndquadrant. The increasing level of saving shows the higher level of income at Y1, so the second point of the IS curve is defined at Y1 national income and r1 of interest rate in the 4thquadrant. Connecting two points in the 4thquadrant, the IS curve is derived with the downward sloping. Similarly, the LM curve in the money market is concerned with the combination of the interest rate (r) and the level of income (Y), where demand for money (L) is equal to the supply (Ms). From diagram 2, the LM curve is derived in which a rise in national income from Y to Y1 in the first quadrant will encourage people more transaction demand for money from TD to TD1 and less on speculative ones such as government bonds so the AD reduces to AD1 in the 2ndquadrant. The decreasing demand for bonds will cause their price to fall, which will then lead to an increase in the interest rate from r to r1 in the 3rdquadrant. Thus, the level of income rises, the interest rate rises as well, and the LM curve is described as an upward sloping curve in the 4thquadrant. Taking both the IS and LM curves in the same diagram, the equilibrium of the IS-LM model is known as r interest rate and Y level of income. There is an assumption with the IS-LM model that the price is fixed, therefore, the changes in the money supply will influence the level of income. In particular, it will result in a fall of interest rate, and, eventually, the growth of national income. Firstly, the effect of the money supply on an increase in the level of income can be explained by the transmission mechanism of asset purchase. In fact, the money supply involves an aggressive version of open-market operations, where the central bank purchases the range of assets from the commercial banks or financial institutions, such as long-term government bonds (Sloman and Wride, 2012, pp. 619). The purpose is to pump large amounts of additional money into the financial market to stimulate the demand and increase the broad money through the process of credit creation. The increase in the money supply is, therefore, illustrated by the shift outward from Ms1 to Ms2 as well as LM1 to LM2 in diagram 3. Because of assets purchase, there is a rise of demand for bonds in the market, which shows AD1 increasing to AD2 and then the bonds prices are beginning to go up, making them more expensive to buy (BBC, 2013). Thus, this will depreciate interest rate from r1 to r3 in the 3rdquadrant and lead to a new equilibrium in LM2 as point B, where the national income is Y1 and the interest rate is r3 in the 4thquadrant. In theory, the fall in interest rate will stimulate investment and consumption because of lower returns and savings, respectively, which, thus, rises in the injection. In the Keynesian income-expenditure model, any changes in injection will reflect a national income change, too. Finally, the level of income, in this case, will be boosted from Y1 to Y3 because of increasing investment. Afterward, it is clear from the 4thquadrant diagram that the market is not in equilibrium (LM#IS), and hence, both markets should be automatically adjusted to gain the new equilibrium of point C. Because of the increase in national income at Y3, people are willing to increase their consumption and broad money to pay for these. It also means that they will demand more money. However, there will be an excess of demand for money because people prefer to consume at Y3 while the liquidity preference is only available at lower level of Y1. When the demand for money is higher, it will lead to higher interest rates, too. Indeed, the excess of demand can be only eliminated by an increase in interest rate from r3 to r2, which then results in less investments as well as a fall in injection. The decrease in injection shows a reduction in the level of income from Y3 to Y2 ­. Here, the market reaches the equilibrium as point C in which the interest remains r2 and the national income is Y2. Conse quently, the rise in the money supply will cause a fall in interest rate and an increase in the level of income. However, there are some arguments in which the effect of monetary policy might be determined by some factors. For example, Keynesians figure out that the monetary policy will not work effectively on the level of income. In other words, the money supply cannot increase the national income because of animal spirit and liquidity trap. The first situation is illustrated as the IS curve is vertical. This case is known as an animal spirit which refers to the importance of instincts, proclivities and emotions in human behaviours on future decisions, and can be measured in terms of consumer and business confidence (John Maynard Keynes, 1936). Keynesians argue that the IS curve is likely to be inelastic because the investment and savings are mainly determined by factors such as an animal spirit rather than changes of interest rate. The lack of sensitiveness of investment leads to no changes in the level of income, even when the interest rate is falling. From diagram 4, the IS curve is extremely inelastic (or vertical). Since an expansionary monetary policy applied, the money supply increases, which also means the LM curve is shifting outward from LM1 to LM2. To eliminate this excess of money, the theory of liquidity preference says that the interest rate has to fall, and hence, interest rate decreases from r1 to r2 (Begg and Vernasca, 2011). By contrast, the reduction in interest rate cannot stimulate investments as the theory in diagram 1, because investors are currently unconfident and pessimistic on the future business prospects, they are not willing to invest even a fall in interest rate. Thus, the injection and level of income cannot be affected and remained at point Y as no changes of investment. In a summary, Keynesian suggested that the human behaviours do play a vital role in the effectiveness of monetary policy. Furthermore, it is one of the elements causing liquidity trap that is an issue of the current economy after the recession in 2008. In fact, the central bank had decreased interest rates from 5% in 2008 to 0.5% in 2009, and remained at that level to date. However, the economic growth was still in a recession, and the unemployment was growing because the confidence of both businesses and consumers was severely depressed in 2011 (BBC, 2014). Furthermore, the second circumstance is believed as the extreme effect of monetary policy (Economics Help, 2009). It shows that when the market operates in the case of a liquidity trap, the monetary policy cannot affect the level of income because it is ineffective in changing the interest rate. Generally, a liquidity trap is a situation in which people are likely to hoard cash rather than non-liquidity assets since they feel afraid of an adverse event, such as deflation, insufficient aggregate demand, or war that are expected in the future. A common characteristic of a liquidity trap is defined as the interest rate being close to zero or even zero percent (0%), and people are unwilling to forego the benefits of holding cash by investing in bonds (Krugman Paul, 2008). According to Krugman Paul (2008), when the monetary policy is carried out through the open market of asset purchase, there will be an injection of broad money into the private bank system since the commercial banks are selling bonds in order to get new money (BBC, 2013). However, the process of the money supply fails to decrease the interest rate which main purpose is to stimulate investment and consumption since the interest rate is at its lowest in the liquidity trap. Moreover, bonds will pay little or no interest at this period, meaning that bonds are nearly equivalent to cash. When people may not gain higher returns from bonds, they do not want to purchase bonds, therefore, any attempt by an expansionary monetary policy to encourage people to hold non-l iquidity assets in the form of consumption will not be useful. Overall, the interest rate is unchanged so that it is unable to increase in investment, injection and, the level of income finally (Economics Help, 2012). From diagram 5, at the close-to-zero interest rate, the demand for money will become extremely elastic, meaning that the left part of the LM curve must be flat. Then, it is assumed that the market is working in a liquidity trap case so the equilibrium A lies on the horizontal line of the LM curve with the very low interest rate r and level of income Y (Paul Krugman, 1998). The monetary policy is implemented so that the vertical part of the LM curve shifts from LM1 to LM2. However, the IS are working in the horizontal part of LM, which shows that people feel either pessimistic or unconfident to spend at very low interest rate. Then, there is no movement along the IS curve following the change in the LM curve as well as in the money supply. The interest rate and national income are finally unchanged at r and Y. There are some empirical experiences of how the monetary policy was implemented in a period of a liquidity trap. In the case of the UK economy, the interest rate was cut to 0.5% in March 2009, as mentioned above. Helped by quantitative easing, there was a weak recovery in 2010. According to Michael Joyce (2011), the first round of quantitative easing by  £200bn from the central bank had helped to raise the annual economic growth between 1.5% and 2%. Conversely, the rate of UK economic growth was generally falling in 2011 and 2012, which is a good example of a liquidity trap period. In particular, it revealed that there was slow growth in 2012, and business and consumer confidence declined rapidly since firms and consumers were highly indebted and they decided to cut spending to pay down debt. Moreover, as they are expected an increase in interest rate, the price of government bonds fell, and hence, investors were willing to keep cash savings rather than bonds. Therefore, even thoug h the bank of England had injected  £275bn into the economy until 2012, there was still a majority of Monetary Policy Commitment (MPC) voting for  £50bn more quantitative easing in order to boost the demand (BBC, 2012). Although Keynesians supported fiscal policy as government spending is essential for a liquidity trap, the monetary policy was stated as an important role to save the economy from a credit-led depression (BBC, 2013). In conclusion, based on the IS-LM framework, the expansionary monetary policy, particularly in quantitative easing, has been described regarding its effect on increasing the level of income. On the other hand, the effectiveness of the policy depends on the slope of the IS and LM curves, as well as how much the money supply increases. For example, the flatter the IS curve, the steeper the LM, and when quantitative easing is bigger, the growth of the national income will be larger (Sloman and Wride, 2012). Additionally, there are two circumstances in which the monetary policy is failing to affect the level of income. Keynesians argued that since the animal spirit and liquidity trap were derived in the UK economy after the Great depression in 2008, the monetary policy of quantitative easing is ineffective. Once there, Paul Krugman (1998) had viewed the argument against the quantitative easing based on Japans experience in the 1990s: no matter how much the monetary base increase, as long as expectations are not affected it will simply be swap of one zero- interest asset for another, with no real effects. This argument implied that the central bank is unable to affect the broad monetary aggregate while the expectations still did not change.

The Impossibility of a True Selfless Friendship as seen in Shakespeare

Selfless friendships do not exist, the only friendships that will last contently, and without resentment must benefit both parties in some way. If the relationship is parasitic, and only one person involved is benefitting, then eventually there will be resentment and one or both persons involved will opt to end the friendship. In Shakespeare's Timon of Athens, this is most notably seen in the character of Timons, who gives all of his friends gifts and holds feasts for them, but recieves nothing in return when he needs it the most. Eventually, Timon realized his friends were false and lost hope in all mankind, when he was once a very generous, selfless friend. In the same respect, if no one is recieving anything from the friendship, the friendship does not exist. Apemantus' and Timon's relationship appears this way, as they seem to share a bond, but are never friends. Apemantus does not appear to be friends with anyone within the play, because of his belief that friendship should be s elfless. The only true friendship in Timon of Athens is between Timon and Flavius, his steward. Even though Timon calls Flavius selfless, they both recieve physical gifts from each other, and there is no selfless exchange of affection. The wealthy Timon starts out the play talking to a messenger about his friend, Ventidius, having been imprisioned due to outstanding debt. Timon decides to "pay the debt and free him" (line 105, 178). The messenger tells Timon that his "lordship ever binds him" (line 106, 178), and Ventidius will feel obligated to repay Timon for the rest of his life. This, already, is a perfect example of how there is no friendship that can last with only one person being selfish, and the other selfless. There is always an anxiety and... ...ndship. At the beginning of the play, Flavius worked for Timon as a steward, so he was paid for the financial help he gave Timon, but even at the end of the play, when Flavius attempts to be selfless by wanting to be Timon's steward for no pay, and gives Timon money, Timon returns the gift with gold. Flavius is a loyal friend to Timon, and Timon speaks kindly of only Flavius at the end of Timon of Athens, but at no point is either party selfless within the friendship. If friendship, by definition, is selfless, then true friendship does not exist. If one or both parties are completely selfless, and do not benefit from the friendship in any way, then it cannot exist or exist for a significant amount of time without eventual hostility or animosity. But, if there is a trace of selfishness from both friends, then the partnership can be sustained with loyalty and respect.

Lee De Forest Essay -- essays research papers

Lee De Forest Lee De Forest was born Aug. 26, 1873, Council Bluffs, Iowa. De Forest was the son of a Congregational minister. His father moved the family to Alabama and there assumed the presidency of the nearly bankrupt Talladega College for Negroes. Excluded by citizens of the white community who resented his father's efforts to educate blacks, Lee and his brother and sister made friends from among the black children of the town and spent a happy although sternly disciplined childhood in this rural community. (Kraeuter, 74). As a child he was fascinated with machinery and was often excited when hearing of the many technological advances during the late 19th century. He began tinkering and inventing things even in high school, often trying to build things that he could sell for money. By the age of 13 he was an enthusiastic inventor of mechanical gadgets such as a miniature blast furnace and locomotive, and a working silverplating apparatus. (A Science Odyssey: People and Discoveries). His father had planned for him to follow him in a career in the clergy, but Lee wanted to go to school for science and, in 1893, enrolled at the Sheffield Scientific School of Yale University, one of the few institutions in the United States then offering a first-class scientific education. (Kraeuter, 74). De Forest went on to earn the Ph.D. in physics in 1899, with the help of scholarships, and money his parents made by working odd jobs. By this time he had become interested in electricit...

Contract la w

Businesses need to plan their affairs relying on the fact that contracts can be enforced In order to malting the web of Interdependent relationships. Contracts are a way of enforcing agreements. One needs to anticipate the future as In thinking what can go right and what can go wrong, cause It allows one to project into the future e. G wanting things to work out a certain way in the future, and so a contract can be used to have people do things into the future or protect you from things that can go wrong in the future.It's not Just a reactive thing but It gives one the possibility of planning Into the future. It has a wealth mastication function also since it is an exchange of goods and services to someone who values them the most such as one values the object In a store more than the money in ones pocket and the store values the money In ones pocket than the object they have in their store (objective and subjective approach egg when determining the value of something).This as such c reates wealth in society by moving goods and services to those who value it more. One flaw however is transaction cost such as advertisement cost etc, so contracts do not come for free it takes time and effort. The biggest transaction cost in interact Is legal cost. Efficiency – certainty (structure) – needed for a proper contract. Is there and agreement? – Objective approach is taken, what would a neutral person think looking at the transaction.A Judge does not have to prove fault or negligence the only thing required in a contract case is one agreeing to do one thing in contract but fails to follow that agreement and as such one is entitled to sue the other in breach of contract. No need for fault or intentional wrongdoing. It all flows from agreement, not about fault, it is about agreement and breach of the said agreement. Is it legally enforceable? Some agreements are Just not enforced legally such as two friends making an agreement. Entitled to sue and get a remedy when another person to that contract fails to carry out their part.Contract is important due to the remedy that is given. Remedy – one remedy is being put back in the place you were before the contract was executed, another is where one is put in the expected position meaning the position one would be in had the contract been properly carried out usually wanted by the claimants, as it relates to the defendant one asks how much they have gained as in getting more money but the principle is that one should not gain from reaching a contract, another approach is the moral approach where it is immoral to breach a promise since a contract is where promises are made.Punitive (punishing for wrong performance) is usually non-existent however countries such as the USA suing for punitive damages is available. Contract law takes an expectation approach rather than a reliance approach. Hire someone agrees to pay a fee for their service, they spent some money advertising the event and selling the ticket, performer offered a better deal and so breach the contract by taking the other Job and as such they breached the contract for their original performance and so tickets needed to be refunded.As it relates to reliance approach one can claim money was waste don advertisement and service fee all of which are reliance loss however as it relates to expectation one looks at the money that they could have gained from the ticket selling whilst still taking into consideration the money paid for advertising and service and so one is claiming for the expectation loss for the ticket that could have been sold. Either they person performs what they promise or one is put in the position had he performed it properly.Expectation interest allows one to plan based on the contract. Reliance interest – expectation protect ones ability to rely on a contract. As it relates to reliance loss one has to prove that had he not made the contract with one he would have made the con tract with the same benefit from another agreement. Reliance can be used also where the contract is formed in a unfair manner such as duress since one would not want to be put in the position had the contract been carried out one would want to be put in a position before the contract was made.

University Museum Case Analysis

Thomas Molteni MGMT 587 02/07/2013 University Art Museum Case Analysis I. Summary of Facts The Art museum is a classical building housing the art collection of a university. The building endowment was given to the university by an alumnus around 1912. (81) The wealthy son of the university's first president served as the museum's unpaid director until his death. During his service he brought a few additional collections to the museum. (81) While serving as unpaid director, none of the collections was ever shown to anybody except a few members of the university's art history faculty.After the founders death, the university handed off the position to amateur enthusiast Miss Kirkoff. Miss KIrkoff cataloged the collections and pursued new gifts. (82)The museum was remodeled to include an auditorium, library, and classrooms. September 1981 directorship is passed on. The New director attempts to make the museum a community resource, but it becomes too popular. (82) Classes and exhibitions lose interest with the students, and the Pd. D. is let go after three years of service. II. Statement of the Problem The university's problems spur from their lack of management and authority.The museum is not flourishing with the school as well as it has in the past, and the direction of the university is being questioned. III. Causes of the problem The museum gained notoriety during its use as an academic resource, but the later director wanted it to be a community resource. The building was designed by Miss Kirkoff to aid academia in their pursuit of knowledge; therefor, it failed to support the university and the public. The museum expects to hire a director and allow them to mold the museum in any way they see fit.The university needs to identify the direction they want the museum to head in and create guidelines for a director to fallow. IV. Possible Solutions Possible solutions for the museum include: forming a more cohesive board to decide the future direction of the museum, hire new manager who can get the job done, or allow the students to decide the future of the establishment. The current art history board is made up of staff who have built up a snobby and stubborn attitude, and without cohesion they will never agree.Hiring a new director is a possible solution but the university must form guidelines to aid the manager. The students having a voice in the situation is a great decision or a horrible decision depending on their involvement and understanding. V. Solution and Its Implementation To properly organize and manage the museum, an intelligent and modest group of enthusiast must decide direction of the establishment. The stubbornness built up by the current staff is disabling any productive movement.Once the group is formed they will brainstorm the future of the program and find balance between the public and exclusive. The decision and agreement will then trigger the search for possible management directors whom aligns with the university goal s. VI. Justification Implementing the board will work because it contains the same passion and elements which brought the museum to its present glory. Miss Kirkoff intended for the museum to be a resource but maintain its position as a part of the university. With the help of bright minds and focus, the museum should be able to realign with the goals of the past.

Some people think that most employees like to earn money for a better life than any enjoyable job

In life, citizens are currently living in a very harsh existence that seems full of difficulties that they have to confront longer. Everybody acknowledge today’s economic situation is not as stable and safe as expected. On the other hand, humans demand more standards of living first in order to catch up with the high pace of developed nations. To achieve these ambitions, not a few of employees in the fact having been considered that they need to earn money at any career for a prosperous logistics life than any enjoyable job.Perhaps, the first mention is we should accept that money is primary reason for working though money does not bring happiness. It is often said that people need money for survive. Moreover, life will be easier for those who have plenty of money as they can do whatever they like and do not have to think constantly about whether they are able to afford something or not. In addition, earning a good salary makes it easier to be more healthy and supports them wi th wealthy. The ideal situation may be to have an enjoyable job that also provides a good salary, but this is not always possible.It is essential to remember that some people might not have a choice of jobs because they are not well educated or it chooses them, they cannot pick up one for their own. That is a reason why they mainly concentrate on spending most of their time to work hard any business that needs them for a seeking of money and dream pursuing even it is not their passion. No doubt, well-paid job enable people to live in luxury house with all modern conveniences. By this way, good salary possibly increases the quality of life.Another criticism I would like to comment is providing economic necessities is the most crucial condition of helping country to be well matched as others of five continents. In recent years, the economy status is facing some problem that leads us become jobless and country goes worse more than before. That is the disadvantage of choosing an enjoyab le job because the possibility of losing job is greatly high. Thus, perhaps I believe that  type of decision depends on the situation and scenario of the condition. Saying truthly, it will be risk if the individuals only wait for a job that they have a knowledge asset or an adoration of it.To emphasize, finding an enjoyable job can only suitable with previous situation in last few years. The best advice for employees here is they do not need to expect eagerly on the job that is matched with their education whatever it costs. To make a soon development, people should snatch an opportunity of job whenever it is available and put much effort in order to build up the national economy by having a stable financial statement with good job.To end up my point of view, I would like to go with reasons why others appreciate a work they enjoy. These people claim that money is not happiness, whereas enjoyable job not only makes their life happier, but also help them earn high income in the near future. This due to the fact that they will find something interesting in their job that might seem dull and boring to others. As a consequence, they inevitably devote themselves heart and soul to work, leading to them soon enhance the level of performance to get perfect effect.As well as this, it is highly likely that such job brings emotional satisfaction to worker and contributes to the development of company. It is reasonable to say that their boss will respect them, paying them, giving higher position. One more interesting pint here is some people insist that they could manage with less money and have a better life by taking a job they enjoy or by working fewer hours. Furthermore, a less well-paid job can enable them to spend more time at home.In conclusion, some people argue that money is not important, but I am sure that money is the solution to many problems. If employees earn more money at work, they will be able to meet family’s needs, in some aspect even they will be a kind of reputable person. What is more, by earning more money, people can enjoy life by making good living conditions and can help country go up as well.

Learning by Experience Essay

Project Synopsis This project involves the study of social and cultural background of Maheshwar Situated in a town in Khargone district of Madhya Pradesh through this project we are expected to reflect upon the experience which we had gained by engaging in a field work in the town Maheshwar and inculcating the good aspects which we have learned so that we could cater to the need of the society which demands the managers with sociological perspective, change agents and societal leaders. REVIEW OF LITERATURE Maheshwar is a town in Khargone district of Madhya Pradesh state, in central India. It is located 91 km from Indore, the commercial capital of the state. The town lies on the north bank of the Narmada River. Maheshwar is on the bank of mighty Narmada River and is famous for its Maheshwar temple and Fort. The fort was built by renowned queen Ahilayabai Holkar. The beauty of Narmada River and the fort is worth seeing. Maheshwar has been a centre of handloom weaving. Maheshwar is also famous for its finely woven Maheshwari Sarees. Maheshwari sarees were introduced 250 years ago by Rani Ahilyabai, the ruler of princely Indore State from 1765 to 1795. She brought in weavers from Surat in Gujarat and Mandu and established them at Maheshwar, to weavespecial nine-yard saris for the ladies of royal household, and turban fabric. Rani Ahilyabai moved her capital to Maheshwar, constructing the splendid 18th century Maratha-architecture based, Ahilya Fort, on the banks of the sacred Narmada River . Besides her capital being an industrial enterprise for textile, it was also a thriving destination for literary, sculpture, music and arts. Fort Built by Mata Ahilyabai Holkar Ahilya Fort is a magnificent structure that is around 250 years old. Overlooking the Narmada River, it is perched-up high on a hill and thus offers an amazing view of the ghats below. The fort includes ancient- style  courtyards, verandahs and stone walkways. It was once the residence of Ahilya Bai Holkar, one of the most celebrated women rulers of India during the 18th century Handloom in Maheshwar Handloom weaving in Maheshwar has an ancient history dating back more than 1500 years. The current tradition owes its resurgence to Maharani Ahilyabai Holkar, who ruled the state of Indore from 1765 to 1795, and it was under her patronage that the weavers prospered. Baneshwar Mahadev Temple On an island in the middle of the river stands the Baneshwar Mahadev Temple. It is believed that a heavenly line (an axis of sorts) from the North Star passes through this temple to the earth’s centre

Night World : Secret Vampire Chapter 1

It was on the first day of summer vacation that Poppy found out she was going to die. It happened on Monday, the first real day of vacation (the weekend didn't count). Poppy woke up feeling gloriously weightless and thought, No school. Sunlight was streaming in the window, turning the sheer hangings around her bed filmy gold. Poppy pushed them aside and jumped out of bed and winced. Ouch. That pain in her stomach again.-Sort of a gnawing, as if something were eating its way toward her back. It helped a little if she bent over. No, Poppy thought. I refuse to be sick during summer vacation. I refuse. A little power of positive thinking is what's needed here. Grimly, doubled over-think positive, idiot!-she made her way down the hall to the turquoise-and gold-tiled bathroom. At first she thought she was going to throw up, but then the pain eased as suddenly as it had come. Poppy straightened and regarded her tousled reflection triumphantly. â€Å"Stick with me, kid, and you'll be fine,† she whispered to it, and gave a conspiratorial wink. Then she leaned forward, seeing her own green eyes narrow in suspicion. There on her nose were four freckles. Four anda half, if she were completely honest, which Poppy North usually was. How childish, how-cute! Poppy stuck her tongue out at herself and then turned away with great dignity, without bothering to comb the wild coppery curls that clustered over her head. She maintained the dignity until she got to the kitchen, where Phillip, her twin brother, was eating Special K. Then she narrowed her eyes again, this time at him. It was bad enough to be small, slight, and curly-haired–to look, in fact, as much like an elf as anything she'd ever seen sitting on a buttercup in a children's picture book–hut to have a twin who was tall, Viking-blond, and classically handsome .. well, that just showed a certain deliberate malice in the makeup of the universe, didn't it? â€Å"Hello, Phillip,† she said in a voice heavy with menace. Phillip, who was used to his sister's moods, was unimpressed. He lifted his gaze from the comic section of the L.A. Times for a moment. Poppy had to admit that he had nice eyes: questing green eyes with very dark lashes. They were the only thing the twins had in common. Phillip said flatly, and went back to the comics. Not many kids Poppy knew read the newspaper, but that was Phil all over. Like Poppy, he'd been a junior at El Camino High last year, and unlike Poppy, he'd made straight A's while starring on the football team, the hockey team, and the baseball team. Also serving as class president One of Poppy's greatest joys in life was teasing him. She thought he was too straitlaced. Just now she giggled and shrugged, giving up the menacing look. â€Å"Where's Cliff and Mom?† Cliff Hilgard was their stepfather of three years and even straighter-laced than Phil. â€Å"Cliff's at work. Mom's getting dressed. You'd better eat something or she'll get on your case.† â€Å"Yeah, yeah †¦Ã¢â‚¬  Poppy went on tiptoe to rummage through a cupboard. Finding a box of Frosted Flakes, she thrust a hand in and delicately pulled out one flake. She ate it dry. It wasn't all bad being short and elfin. She did a few dance steps to the refrigerator, shaking the cereal box in rhythm. â€Å"I'm a †¦ sex pixie!† she sang, giving it a footstomping rhythm. â€Å"No, you're not,† Phillip said with devastating calm. â€Å"And why don't you put some clothes on?† Holding the refrigerator door open, Poppy looked down at herself. She was wearing the oversize T-shirt she'd slept in. It covered ‘ her like a , minidress. â€Å"This isclothes,† she said serenely, taking a Diet Coke from the fridge. There was a knock at the kitchen door. Poppy saw who it was through the screen. â€Å"Hi, James! C'mon in.† James Rasmussen came in, taking off his wraparound Ray-Bans. Looking at him, Poppy felt apang-as always. It didn't matter that she had seenhim every day, practically, for the past ten years. Shestill felt a quick sharp throb in her chest, somewherebetween sweetness and pain, when first confronted with him every morning. It wasn't just his outlaw good looks, which alwaysreminded her vaguely of James Dean. He had silky light brown hair, a subtle, intelligent face, and grayeyes that were alternately intense and cool. He was the handsomest boy at El Camino High, but that wasn't it, that wasn't what Poppy responded to. It was something insidehim, something mysterious andcompelling and always just out of reach. It made her heart beat fast and her skin tingle. Phillip felt differently. As soon as James came in, he stiffened and his face went cold. Electric dislike flashed between the two boys. Then James smiled faintly, as if Phillip's reactionamused him.†Hi.† â€Å"Hi,†Phil said, not thawing in the least. Poppyhad the strong sense that he'd like to bundle herup and rush her out of the room. Phillip alwaysoverdid the protective-brother bit when James wasaround. â€Å"So how's Jacklyn and Michaela?† headded nastily. James considered. â€Å"Well, I don't really know.† â€Å"You don't know?Oh, yeah, you always drop yourgirlfriends just before summer vacation. Leaves you free to maneuver, right?† â€Å"Of course,† James said blandly. He smiled. Phillip glared at him with unabashed hatred. Poppy, for her part, was seized by joy. Goodbye, Jacklyn; goodbye Michaela. Goodbye to Jacklyn's elegant long legs and Michaela's amazing pneumatic chest. This was going to be a wonderful summer. Many people thought Poppy and James's relationship platonic. This wasn't true. Poppy had known for years that she was going to marry him. It was one of her two great ambitions, the other being to see the world. She just hadn't gotten around to informing James yet. Right now he still thought he liked long-legged girls with salon fingernails and Italian pumps. â€Å"Is that a new CD?† she said, to distract him fromhis stare out with his future brother-in-law. James hefted it. â€Å"It's the new Ethnotechno release.† Poppy cheered. â€Å"More Tuva throat singers-I can't wait. Let's go listen to it.But just then her mother walked in. Poppy's mother was cool, blond, and perfect, like an Alfred Hitchcock heroine. Shenormally wore an expression of effortless efficiency. Poppy, heading out of the kitchen, nearlyran into her. â€Å"Sorry-morning!† â€Å"Hold on a minute,† Poppy's mother said, gettinghold of Poppy by the back of her T-shirt. â€Å"Good morning, Phil; good morning, James,† she added.Phil said good morning and James nodded, ironically polite. â€Å"Has everybody had breakfast?† Poppy's motherasked, and when the boys said they had, she looked at her daughter. â€Å"And what about you?† she asked,gazing into Poppy's face. Poppy rattled the Frosted Flakes box and hermother winced. â€Å"Why don't you at least put milkon them?† â€Å"Better this way,† Poppy said firmly, but when hermother gave her a little push toward the refrigerator, she went and got a quart carton of lowfat milk. â€Å"What are you planning to do with your first day of freedom?† her mother said, glancing from James to Poppy. â€Å"Oh, I don't know.† Poppy looked at James. â€Å"Listen to some music; maybe go up to the hills? Or drive to the beach?† â€Å"Whatever you want,† James said. â€Å"We've got allsummer.† The summer stretched out in front of Poppy, hotand golden and resplendent. It smelled like pool chlo rine and sea salt; it felt like warm grass under her back. Three whole months, she thought. That's forever. Three months is forever. It was strange that she was actually thinking thiswhen it happened. â€Å"We could check out the new shops at the Village — was beginning, when suddenly the painstruck and her breath caught in her throat. It was bad-a deep, twisting burst of agony thatmade her double over. The milk carton flew fromher fingers and everything went gray.

Case Essay Example | Topics and Well Written Essays - 750 words - 6

Case - Essay Example Any decision in the company affects the decision taken by EPA later, Jonica and other executives, besides the company itself, are stakeholders. A dip in the profitability of the company will affect the perception other stakeholders regarding the management’s ability to make decisions that may lead to profitability, or which may prefer pollution of the lake. Any decision they make will affect the management of the company. There are different moral considerations in the above issue; the first ethical consideration involves an ethical dilemma. Though Jonica and the administration have an obligation to ensure the profitability of the company, it would be ethical to make a decision for the good of the environment, despite the cost to the company. Ethically, it would be preferable for the company to suffer a loss that year, but be recognized for its strong ethical CSR. On the overhand, although EPA has not made a declaration of the steps necessary to reduce the emissions, Jonica and the management have an ethical duty to act for the good of the environment based on the scientific conclusions given. Acting to reduce these emissions based on the scientific study provided even before EPA steps in to intervene will increase the ethical standing of the company among its stakeholder. Therefore, acting on the contrary to attain profitability would be a moral lapse on the part of the management. Foregoing, profit s and implementing the technology to reduce emissions would be a tough tradeoff, which will result in a right-right situation, unlike ignoring the scientific findings, which is a moral lapse. The company would stand to gain from such strong moral values as it would gain favor from customers in the market In resolving the situation, Janica and the management did not have an option, as the technology would be forced through, when EPA backed by the public get the scientific findings. To be the on the safe side, Janica and the

Artificial Intelligence in Art project (multimedia installation) Essay

Artificial Intelligence in Art project (multimedia installation) - Essay Example Artificial intelligence is fused with multimedia to make the subjects more â€Å"human.† The processes are aimed at making human beings feel comfortable in the company of the creations. The creations create the feeling of cloning human companionship. The articulation of the two, is aimed at stimulating those human actions, e.g. feeling, touching and seeing, that seem complex to replicate. The whole topic of artificial intelligence in multimedia production cannot be described by one project or system. Artificial intelligence is a wide and broad area. To explore all corners of artificial intelligence, the report is mainly focused on the system and projects that expound on artificial intelligence based on multimedia. Several case studies on art project that incorporated artificial intelligence are described below. Case studies Thomas Ray, Tierra (1998) The Tierra is software created to represent natural evolution in the medium that is natural. The software uses artificial intelli gence to create a virtual computer that runs on an evolving operating system. The software uses an evolving operating system called Darwinian operating system (Ackley & Littman, 1990). The Darwinian operating system has its architecture based on executable machine codes. The machine codes evolve with each execution. The machine codes can be either be mutated or recombined. Despite the changes in the codes, the resulting codes remain functional. The functionality of the codes is durable. The code evolves through the process of natural selection. The code improves itself with each change in the natural selection. The Darwinian operating system manages the memory that the software uses. Time is shared accordingly among the services that run along with the program. The operating system also controls the factors that tend to affect and distort the course of evolution. The factors include disturbances on the cycles, the mutation rates, and allocation of processor time to each creature tha t is within the covered ecosystem (Ackley & Littman, 1990). The operating system also records birth and deaths, a sequential code that covers all the creatures, and a gene bank where successful genomes are stored. The program uses artificial intelligence to automate ecological analysis. All types of interactions that take place among the creatures in the simulated ecology are recorded. The system produces synthetic organisms. The synthetic organisms are based on a metaphor of the computer. The CPU time is used as the energy in the ecosystem. The memory is used as the material in each organism within the ecosystem. Mutation is responsible for creating new forms into the ecosystem, a process represented by the evolving machine codes. Evolution precedes the ecosystems natural selection. Natural selection is represented by the competition of the different genotypes for energy (CPU time) and material (memory space) (Ackley & Littman, 1990). The system combines both artificial intelligenc e and multimedia using digital communities to diversify the ecosystem. The digital communities are used to represent coexistence and competitive exclusion, regulation of the population through parasite/host density, punctuated equilibrium, and enhancement of the community diversity through parasitic effect. The software represents a natural evolution in the digital medium. Kenneth Rinaldo, Autopoeisis (2000) Autopoiesis is an installation of robotic