Informative Speech Amazing Content, Needs - 1063 Words

Comment: Amazing Content, Needs to be Edited Summary As a writer, I think the content that I produce is really strong. My writing is well organized, which leads to clarity for my readers. My ideas get across to the readers with ease. I use my creativity to my advantage by adding like and personality to my words. However, I’m not a strong editor. I can’t recognize my own errors. No matter how hard I try, there will always be mechanical errors on my final product. I believe that I can use blogging as an opportunity to improve my writing. By writing about content that interest me, I can improve my writing skills in the process. I can learn how to edit my writing, which will reduce mechanical errors. It will also make me more fun for me to write. Therefore, I won’t have any excuse to say that I’m not interested in writing or that I easily get distracted. Strengths 1.Creativity. I tend to think outside of the box. Being creative definitely makes it easier for me to develop ideas. Developing ideas is the fastest part of my writing process. For some reason, I usually come up with ideas instantly. Being creativity also helps me add character to my writing. I don’t think that my writing is dry and boring. I think that my writing has a lot of character to it. I make it interesting and entertaining for the readers to read even if the subject is really dry. 2.Well organized. Before I write, I would make an outline. Making an outline helps me stay organized throughout the writingShow MoreRelatedThe Souls Of Black Folk And Three Negro Classics1158 Words   |  5 PagesCompromise speech in 1895.† (,Du Bois, W.E.B PBS) While he be acquainted with the importance of the African American people lifestyle, Du Bois as well builds up the focus of encouraging African Americans’ desires to more important learned accomplishment. Instead of tolerating the predominant belief of African Americans’ intellectual lack to whites, Du Bois saw his own lifestyle as a rejection of that delusion and underlined the significance of advising African Americans to work to succeed informative equalityRead MoreHow our Society is Evolving with the Mass Media1162 Words   |  5 Pagesenjoyed Let’s start with the most used type of media in the world, the television. Around 88% of people watch TV daily. It is one of the most used media to this day and for good reason, with many channels and TV shows that are entertaining as well as informative shows, like wild animals documentaries, as well as offering learning shows for kids, and because of its capability to form influential touchstones; TV empowers young people to share cultural experiences with each other. Moreover because it is worldwideRead MoreReflection Of A Special Education Classroom1382 Words   |  6 PagesBell, I felt a connection. She seems like a warm, cheerful teacher. Mrs. Bell is a teacher in a self-contained classroom. Her classroom was very big, organized and inviting. There were six students with different disabilities such as: autism, speech and language disability, intellectual disabilities, visual impairment, and physical disability. There are four big rectangular tables instead of desks and chair, which were positioned into a square where there was enough room to walk around or withinRead MoreArt of Public Speaking5805 Words   |  24 Pagesall major aspects of speech preparation and presentation. Throughout The Art of Public Speaking I have followed David Hume’s advice that one â€Å"who would teach eloquence must do it chiefly by examples.† Whenever possible, I have tried to show the principles of public speaking in action in addition to describing them. Thus you will find in the book a large number of narratives and extracts from speeches--set off from the text in a contrasting typeface. There are also many speech outlines and sampleRead MoreJonathan Roghubir. Ethics Of Engagment. Professor Genzale...2085 Words   |  9 Pagesethical world. The readings become very informative when they discuss things that occur in everyday society. Discrimination in any form is wrong and in the readings, we learned that people don’t only discriminate against different races but also people with different sexual preference. It’s sick the way people think and treat people because they are different. However, the way people could handle themselves in a civil ma tter against these wrong’s is amazing. The authors of these passages in engageRead MoreLaheys Essay : How Does It Relate To Me?2046 Words   |  9 Pagesown struggles and problems without feeling the need to step in. Because that can lead to a toxic cycle. As a parent I want to take this kind of advice. I want to instill a good set of values in my kids and make sure they have a positive and long term concept of what success and achievement looks like. That is how I potentially relate to this article as a future parent. A final way in which I can relate to this piece by Lahey is as a future Speech Language Pathologist. Now, I know the article isRead MoreSochi 2014 Olympics3379 Words   |  14 PagesBADM 324 | The Marketing of Sochi 2014 | Table of contents Abstract 2 Introduction (Purpose, Scope, Significance) 3 Background (Context, Existing Knowledge) 5 Some quick facts about Sochi 5 Vision 5 Research Question or Hypothesis 8 Approach/Methodology 9 Observations/Discussion/Validation/Results 10 Explanation of the Expectations of Sochi 10 Innovative Olympic and Paralympic Winter Games 10 Celebrating the spirit of Russia 10 Delivering sustainable positiveRead MoreSochi 2014 Olympics3393 Words   |  14 PagesBADM 324 | The Marketing of Sochi 2014 | Table of contents Abstract 2 Introduction (Purpose, Scope, Significance) 3 Background (Context, Existing Knowledge) 5 Some quick facts about Sochi 5 Vision 5 Research Question or Hypothesis 8 Approach/Methodology 9 Observations/Discussion/Validation/Results 10 Explanation of the Expectations of Sochi 10 Innovative Olympic and Paralympic Winter Games 10 Celebrating the spirit of Russia 10 Delivering sustainable positiveRead MoreInformative Speech on Dreams Essay3661 Words   |  15 PagesInterpretation General Purpose: An informative presentation. Specific Purpose: The purpose of this speech is to inform the audience about the deeper significance of dreams, with the goal of allowing them to find meaning in their own dreams. Thesis Statement: Dream interpretation is important because it allows us to see the exactly what a dream is, to find significance in our dreams, and to face our subconscious problems. INTRODUCTION II. (Reveal Topic) A dream is amazing and the way one interpretsRead MoreAn Analysis of English-Chinese Subtitle Translating Strategies: Taking Gossip Girl as an Example4351 Words   |  18 PagesWest, the Chinese scholars, however, have attached much less importance to the studies of this field. A glance at Journal of Chinese Translator, the most prestigious journal in the field of translation studies in China, will be sufficient to show an amazing scarcity of research done in this area. As far as it could cover, there were four articles on audiovisual translation in the Journal of Chinese Translator. Zhang Chunbai, whose article on audiovisual translation was published as early as 1998, gave

School Unifoms Free Essays

Part 1: Purpose The purpose of my bill is to give some children their freedom and creativity back, by allowing them to express how they feel through their clothes instead of wearing a uniform. Being able to tell a little bit about someone at first sight just by their clothes isn’t always bad. Even though school uniforms would make equality among the children, its also blocking their creativity and giving them the wrong message on how to look at things. We will write a custom essay sample on School Unifoms or any similar topic only for you Order Now People always say how horrible it is to judge people by what they wear or by what’s on the outside, but it’s not all stereotypical. Just by looking at someone you can tell a little bit about them, such as if they like different bands, or movies or games. You can tell if they don’t care about their appearance, or if they shop at expensive stores you can tell they might be wealthier. Clothes are a big way of expressing how you feel about different subjects. This bill will help people be able to do that. Another reason that we should not have uniforms is natural disasters. How would a parent identify their child? Most parents know what their children wear to school for the day, and it is a very easy way to pick out your child. Or another is what if a student with superiority attacked a younger age student how would they be able to describe their attacker or pick them out of a group if they all look the same. â€Å"School is a place where the next actors, writers, artists, politicians, inventors, designers and musicians are trained. School uniforms send a clear early-life message to students that comfort is important and creativity is not, that authority is allowed to abuse its power and constrain our constitutional right of free speech and expression. Students learn from uniforms that their individuality, political opinions and religious rights are unimportant, as is their education; students are regularly suspended for non compliance to the uniform code even if their school work is excellent. If uniform-requiring schools were actually in ‘the business of learning’ this would not occur† says Tara Maginnis. They’re all wearing the same uniform. I fear that as adults people don’t have the same opportunity as teenagers and children to express these things. As adults we can wear uniforms and suits, but children are not paid executives they should have the experience of wearing what they want, and by making them wear school uniforms we are taking away that experience. Suits and other formal clothes. can be saved for adults, but not for children. My bill will help kids experience these things. Many parents and teachers believe that enforcing school uniforms would create equality among the students. By creating this equality parents and teachers believe that it will cut down on bullying and peer pressure to dress nice. But unfortunately students will find other ways to bully a peer. Its also important for childrens minds to pick out their own clothes to wear. It has been proven that alowing children to pick out their own clothes creates a better thinker, and independence. No parent or teacher wants their child/stufdent to believe that making everything equal is the way things work in the world, and wearing uniforms everyday will make them believe this. This bill will not allow any school in America to have school uniforms. This will include both public and private schools. This bill will support kids throughout America to express their creativity, outgoing styles, and unique personalities. Making children wear uniforms is against freedom of expression. We are containing our children’s creative minds by making them wear uniforms. Clothing is a very big way for children to express themselves and their personalities. The way they define themselves is not only through their feelings and actions, but also through their clothing. A child’s mind is growing and we are restricting them as children. We are crippling their young creative minds by making them wear the same uniform day after day. Parents and teachers should not have the right to take away a child’s creative minds. That is what this bill is for. Goals for this bill would be†¦  · give kids freedom to pick their own clothes  · give them their freedom of expression  · find other ways to deal with teasing and etc  · save money for parents, and the government  · show people who want uniforms why this bill is important  · give children their creativity and another way to express it  · get rid of some clothing stereotypes  · give them the experience These goals are very possible if this bill is passed. I will try my hardest to make them all happen if my bill is passed. The affects of this bill will be a big turning point for all the schools and students, and parents, when they realize that having uniforms is a bad thing, and it’s much better without them. This bill will need a lot of cooperation from school’s staff all around America. It will need to be enforced by the government, but in every school we are going to need to cooperation from all principal. They have a giant impact on what the children and parents believe is right for the school. This will mainly need to be enforced by the government. We need them to make sure that every school in America is following the rules that are in the bill. The government is the only one that can do that. Part 2: Definitions Superiority: A higher ranking or a higher status person. Crippling: Disabling, impairing, weakening. Non Compliance: Dont agree, refuse. Part 3: Date effective This bill will be going into affect August twentieth. This way it’s not in the middle of the school year and parents haven’t already spent money on expensive uniforms that their child won’t even be wearing for more than half of a school year. Part 4: Costs Benefits This bill is not a big money issue. In the end, we will be saving parents, the government, and the schools money. First by taking away uniforms you would think that the parents would end up losing money, but that is not how I see it. Once the parents buy the uniforms for the children they don’t have to buy any other clothes for school for their children. No child is going to wear their school uniform outside of school. The parents will end up purchasing just as many clothes and spending more money than the parents who don’t have to buy uniforms. That would be for public schools but then on the other hand, public schools are funded by the government. This way the government would save money too, by not having to buy uniforms for all of the public schools. Also if the schools did not have to ask for uniforms from the school, they could ask for more supplies for the buildings, and help the needs of the school. But I am fearful that the schools with uniforms will disagree, and we will end up making a compromise so that this bill will get passed. How to cite School Unifoms, Essay examples

Financial Ombudsman Service-Free-Samples-Myassignmenthelp.com

Question: Discuss about the Financial Ombudsman Service. Answer: Introduction Financial Ombudsman Service is an independent expert system for resolving of complaints between the customer and the businesses which are providing financial services. This report includes critical evaluation of the case study in which a self-employed person borrows a loan from bank worth $250000 which is secured by mortgage of property. Due to extreme conditions the person was unable to repay the loan and provided the reasons to bank for their inability to repay. But bank was insensitive to the same and thus the person approached a financial ombudsman service (FOS). The role and responsibilities of an FOS is described along with evaluation of a case study is done. It also evaluates the performance of an FOS with respect to current scenario. It is one of the third-party grievances handling system (Gilad, 2008). Financial ombudsman service and its role Financial ombudsman service is an independent expert solving out the problems relating to financial services. It is established by the parliament. When the business and customer are unable to resort the matter FOS shall come into play. It will provide an unbiased view to the problem and have all legal powers to do things right. The service of the FOS can only be taken after the customer has himself complained to the business about his problem and the business is unable to solve the same in eight weeks (Summer, 2010). It shall consider all the relevant laws and regulations, guidance, code of practices and ethical practice relating to business. Its funding is done by the financial service sector which collects the same through fees and statuary levies. The applicants apply free of cost and its cost are met by various financial service providers (Financial Ombudsman Service, 2015). According to Financial Ombudsman Service Australia, 2017 the following types of services are provided by FOS Banking Services. Credit card complaints. Insurances (general and life). Services of financial planning. Investment advices. Financial services in context with breaking of law, breaching code of ethics and sectors not meeting standards of good practice (Financial Ombudsman Service Australia, 2017). In the given case, the bank has mortgaged the property and is not helpful to the customer and not considering the reason for failure to pay and thus he approaches the financial ombudsman service. FOS gives assistance to such customers since it is within its scope and only when the customer and the business have not resolved the same and thus the case qualifies as a customer for FOS (Ali, 2016). Procedure followed by customer The following procedure shall be followed by the customer The customer shall lodge the complaint with FOS by submitting the online dispute form or by email or in writing by downloading the form or by telephone. The following information shall be provided by the customer during lodging of complaint : Name and address of the applicant. Key issues. Name and details of financial service provider. If the provider of service lodges complaint it will obtain written consent of customer and then file the same with FOS. If the applicant requires a representative due to some technical or language difficulties the same shall be allowed under FOS but the charges paid to that representative shall be borne by applicant himself. The customer can apply to FOS within six years from the date the dispute arises. But it will come down to two years in case of credit contract variation. After the dispute is filed with FOS, it registers the same and informs the same to FSP for internally resolving the dispute. (Financial Ombudsman Service Australia, 2017) If the applicant accepts determination, FSP shall sign a Confirmation of settlement and the full and final resolution to the case shall enforce. It shall make applicant sign a deed of release within 14 days and the deed should be consistent with determination formulated. Procedure followed by FOS After the applicant has submitted the dispute the FOS shall follow its procedure to resolve the same- Registration and Referral The first step is to refer the dispute filed with the financial service provider. The FSP after examining the case shall respond back to the applicant as well as the FOS. The FSP shall be given a time limit to respond which is depending on the case but in most cases it is 45 days. But when FSP has already applied the same it will come down to 21 days. If FSP does not respond to dispute within the registration and referral stage the same shall be addressed by the FOS (Financial Ombudsman Service, 2015). Case management When the dispute is not resolved above the same is referred here. The case owner is appointed who reviews all the information relating to the dispute and will figure out the jurisdiction relating to the case for investigating the same. After reviewing the case manager shall inform the details to the applicant and the FOS and will resolve by negotiating, or adding merits to the dispute or conciliation conference (Gilad, 2009). Conciliation conference means an informal discussion by both the parties of the case. It is discussed with a conciliator who is an authorized employee of FOS. It is conducted generally as teleconferencing in which both the parties upheld their views and understand each others issues and then generate a proper response to the same. If the dispute resolves here the same is noted and annexed with the report and referred back to FOS. Negotiation is not as effective as conciliation. If the dispute is not resolved other matters to case are added to form an opinion and resolve the dispute (Ali, 2013). Decision This stage arises when the above two stages are unable to resolve the matter. Merits of the case taking the opinion of both the parties shall be considered and a fair decision will be taken applying proper code of ethics and industry best practices. The decision taken here shall be in the form of determination (Financial Ombudsman Service Australia, 2017).Depending on the nature of complexities the decision shall be taken by ombudsman or the panel, as the case may be. Before making a determination the concerned person shall first advice the parties. After determination is made, further no appeal can be filed by either of the parties. An applicant has thirty days (additional time may be allowed) to accept or reject the same. If he accepts it will be binding on both but if he rejects the same shall not be binding. But accepting and rejecting is done only by applicant, FSP has no power to accept or reject it (Llc, 2010). Evaluation of case study- Financial Difficulty Case 1: Following a Workplace injury Facts of the Case- In the given case the home loan was taken by the applicant and due to some workplace injury they were unable to pay the same but they updated the bank for settlement and made number of calls regarding their difficulty. But bank death very insensitively and does not route their difficulty. Rules and regulations to be followed by the bank- The bank breaches Code of Banking practice which states that when the customer has financial difficulty with the credit facility offered , bank will deploy the repayment plan and if required it will apply hardship provisions of uniform customer credit code. Decision by FOS The applicant filed an application with FOS for resolving this dispute. FOS made a reference to code of banking practice in which it was provided that bank will provide repayment moratorium and the same will be finalized in two months and thus it will give applicant a proper time for disposing their property and repay the loan. This decision was accepted by applicant in resolution to their dispute. Case 2: A refinanced Home loan Facts of the Case- In the given case the home loan was taken by the applicant and they asked the FSP to refinance their loan by offering them to mortgage their property. The FSP approved the refinancing. The applicant was unable to repay the loan and applied to FOS for settlement of the case. The applicant alleged that he should be compensated for the drop in prices of the house property. Rules and regulations to be followed by the bank- The bank credit statement was reviewed by FSP. It was found out that FSP demanded for the documents which were not necessary. And it was even reviewed that the loan given to the applicant was not repaid on time along with interest. As per the ethical practice when the applicant does not repay the same he should not be refinanced with a higher loan at a higher interest. Decision by FOS On the basis of the facts of the case and rules of bank it was concluded by FOS that the applicant shall be compensated for the fifty percent of the loss and bank should be more careful in taking decisions since refinancing at higher interest was not viable. The same was justified and the case was resolved. The FOS has a good track record in creating a just and fair redress system for financial consumers Critical Evaluation A Financial Ombudsman Service is a not for profit organization which provides dispute resolution to its financial customers. It has resorted around150000 disputes every year and providing an unbiased solution to the dispute. The business of resolving the dispute is increasing. It has various merits as applying to a non-government company at no cost; it also provides investigation and conciliation along with bad practices are rectified. But sometimes rapid solutions are required to critical problems which cannot be provided by FOS. Decisions taken by FOS are not binding on the applicant. It is binding only after acceptance of the decision (Legal Commission Services of South Australia, 2012). Statistics provide that ninety percent of the cases are resolved in the earlier stages without intervention of an ombudsman. From the data given above it can be easily depicted that FOS has a good track record and is in process of creating a fair redress system. References Ali, P, Bourova, E, Horbec, J and Ramsay, I,2016, Australia's Financial Ombudsman Service: An Analysis of Its Role in the Resolution of Financial Hardship Disputes, Conflict Resolution Quarterly, 34 (2), 163-168. Ali, S, 2013, Consumer Financial Dispute Resolution in a comparative context, Cambridge University Press, United Kingdom. Financial Ombudsman Service Australia, 2015, Operational Guidelines to the Terms of Reference, Retrieved on 15th August, 2017 from https://www.fos.org.au/custom/files/docs/operational-guidelines-as-at-1-january-2015.pdf Financial Ombudsman Service Australia, 2017, Dispute resolution process in detail, retrieved on 18 Aug, 2017 from https://www.fos.org.au/resolving-disputes/dispute-resolution-process-in-detail/#id=registration Financial Ombudsman Service Australia, 2017, Financial Difficulty. Retrieved on 16th august from https://www.fos.org.au/resolving-disputes/case-studies/#FinancialHardship. Financial Ombudsman Service Australia, 2017, Terms of Reference, retrieved on 18 Aug., 2017 from https://fos.org.au/about-us/terms-of-reference Financial Ombudsman Service, 2017, retrieved on 18 Aug., 2017 from https://ombudsman.funnelback.co.uk/s/search.html?query=20collection=meta Gilad , S, 2008, Accountability or Expectations Management? The Role of the Ombudsman in Financial Regulation, Wiley online library, 30(2), 227-253. Gilad, S, 2009, Juggling Conflicting Demands: The Case of the UK Financial Ombudsman Service, Journal of Public Administration Research and Theory, 19(3), 661-680. Legal Commission Services of South Australia, 2012, Advantages and disadvantages of using the Ombudsman, Retrieved on 15th August, 2017 from https://www.lawhandbook.sa.gov.au/ch09s01s02s03.php Llc, B, 2010, Ombudsmen in the United Kingdom: Financial Ombudsman Service, General Books, United Kingdom. Summer, J, 2010, Insurance law and the financial ombudsman service, Lloyd List Law, Great Britain. Brophy, R, 2012, Development of insurance regulation in Ireland, Journal of Financial Regulation and Compliance, 20(3), 248-263. Cortes, P, 2008, Accredited Online Dispute Resolution Services: Creating European Legal Standards for Ensuring Fair and Effective Processes, Information and Communications Technology Law, 17, 221237. Kimble, C, 2015, Business Models for E-Health: Evidence From Ten Case Studies, Global business and organizational Excellence, 34(4), 18-30. Waye, V and Morabito, V, 2015, Collective Forms of Consumer Redress: Financial Ombudsman Service Case Study, Journal of Corporate Law studies, 12(1), 1-31.

Steroids in Baseball

The habit of steroid use among professional athletes is not uncommon in sports arena. Over the past decade, athletes have been charged with the use of performance enhancement drug namely the anabolic Steroid. The reputation of these athletes has been tarnished after they openly admitted to the allegations.Advertising We will write a custom essay sample on Steroids in Baseball specifically for you for only $16.05 $11/page Learn More However, it is common knowledge that the use of performance enhancement drugs in competitive sports has been perceived with a lot of negativity (Frounfelter Brandley 113). Fans and other stakeholders in sports have unanimously agreed that using anabolic steroid, for instance, give users a competitive edge and hence provides uneven playing field for athletes who engage their physical strength during sports such as baseball. The debate on steroids use in baseball gained popularity in 1991 when a ban was put in place. However, t esting among the major league players did not start until in 2003. The results were heartbreaking as many players were confirmed to have used steroids at least once in their sporting activities (Miah 316). Today, MLB is at crossroads of whether to carry out medical test on steroid use among baseball players due to the increase in franchises value derived from promotion of high performing players. This essay explores the use of this enhancement drug as well as the actual and perceived economic results of steroid use. In addition, the economic cost of steroids to players is also analyzed. Mass entertainment sports The use of performance enhancing drugs can be viewed on the board of the rise and fall of mass-entertainment sports. According to Yesalis (112), the use of performance enhancement drugs can be traced back to ancient Roman and Olympic times. Players would use herbs and mushrooms for performance improvement.Advertising Looking for essay on health medicine? Let's see if w e can help you! Get your first paper with 15% OFF Learn More This gave them a competitive edge in the game. The trend has not been consistent since the use of this drug diminished during the post-Roman and pre-Modern era only to be revived during the nineteenth century (Del Cid 180). The rejuvenated use can be traced back to the role of the media in promoting sports as a form of entertainment. Media has promoted the use of performance enhancement drugs as successful players are glorified through numerous sponsorships which translates to appearance in highly paid adverts (Del Cid 182). The media has also increased attendance to the matches which translates to higher income for the franchisee, players and their coaches (Del Cid 184). Economic motivation The perceived economic value of steroid use has led the players to ignore the harmful effects of their actions. According to health experts, prolonged use of steroids can pose adverse effects to the user. Therefore, its usage should be prohibited at all costs. Miah (318) observes that the harmful effects of steroid use can be analyzed both empirically and theoretically. From the empirical point of view, regular use of steroid is unhealthy but there is lack of clear explanation on whether these harmful effects occur when one participates in sports (Dec Cid 175). If the use of steroids is permissible during recovery, why does the issue of harm arise when the same drug is used during sports participation? The claim based on harmful effects might be less supportive especially when we consider the harm that faces the baseball players in terms of injuries (Dec Cid 176). Steroid use and the affected victims Perhaps, it is vital to investigate who will be hurt when steroid is used to boost performance of an athlete, say in baseball. From the theoretical perspective, paternalism assumes that the steroid user is an adult capable of understanding the risks involved (Frounfelter Brandley 125).Advertising We wi ll write a custom essay sample on Steroids in Baseball specifically for you for only $16.05 $11/page Learn More On the same note, it is also worthy to consider an individual hit by a fastball when in a baseball pitch. The latter can be equally fatal although the fatality may not have a long term impact on the victim. Furthermore, the use of steroids has been opposed due to the indirect harm on non-users. For instance, non-users may start using the harmful drug to keep up with the veteran users. The argument might seem plausible from a face value but not when we consider the risks involved in training so as to ‘keep up’ with the rest of the team. All players have to undergo the rigorous physical training rest they fail to ‘keep up’. Sometimes, training sessions are risky but are not prohibited just like the use of steroids (Yesalis 23). Test for steroids by MLB Apart from the moral and ethical issues on steroids use, the questions on whether a player should use steroids or not can be analyzed in economic terms. Miah (308) explains that baseball players used steroids in hope of achieving utility. This can be actual or perceived. The economic motivation behind steroids use is to build the body muscles and gain strength in order to increase productivity. In baseball sports, fans are always attracted to the player whose offensive is above average. The fans might not care whether the prowess is enhanced by use of steroids (Miah 309). Offensive prowess derives positive economic benefit which translates to increased salary for the player. By extension, the economic benefit can be translated to the increase in league franchise finances which has dramatically rose post-steroids era. MLB value has risen post-steroids era which poses the dilemma of whether to test for steroid use or not.Advertising Looking for essay on health medicine? Let's see if we can help you! Get your first paper with 15% OFF Learn More Economic punishment and benefits of steroids use On the other hand, the positive economic benefit will also attract negative benefit because of the high price of steroids and the resultant cost of health related problems associated with steroids use (Rosen 706). In addition, steroids lower a players’ life expectancy which is considered to be a negative economic cost (Rosen 708). The shortened lifespan will economically cost a player of his or her pension’s benefit which would have been earned in future (Rosen 709). Finally, the expected economic punishment will be perceived when the player is caught up with in terms of legal fees and loss of glory (Rosen 701). This may also translate to economic loss incurred through hefty court fines and the tedious, time-consuming criminal justice process. In summing up, the argument for and against the use of steroids in baseball sport depends on an individual’s point of view in regard to moral issues associated with using pe rformance enhancement drugs. The debate raises issues based on the harmful effects associated with steroid. It is upon a player to decide whether the actual or perceived benefits outweigh the associated economic cost. Medical scholars agree that steroid use medically harmful and should be prohibited to protect athletes. However, the paternalism theory assumes an adult should be left alone to make decisions about his /her own life. Works Cited Del Cid, Hector. â€Å"Winning at all costs: Can major league Baseball’s New Drug Policy Deter Kids from steroids and maintain integrity of the Game?† Sports Law journal 14.169. (2007): 170-193. Frounfelter, Gregory Brandley, Greg. â€Å"Ethical considerations regarding Anabolic- Androgenic Steroid Use: Emphasis on the Exercise Professional.† An international journal for exercise physiologists 3.12 (2000): 112-136. Miah, Andy. â€Å"Rethinking Enhancement in Sport.† Annals of the New York Academy of Sciences, 1093 ( 2006): 301–320. Rosen, Sherwin. â€Å"Prizes and Incentives in Elimination Tournaments.† American  Economic Review 76 (4), Sept. 1986, 701-715. Yesalis, Charles. Anabolic steroids in sport and exercise: New York: CIP, 2000. This essay on Steroids in Baseball was written and submitted by user The Anarchist to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.

Free Essays on Is The First Act Of Othello Needed

‘Q) What case would you argue for both of these opinions? 1) ‘Without act one the audience would never understand the evil of Iago or the shaky foundations of the relationship between Othello and Desdemona’ The play ‘Othello’ opens in the streets if Venice. Without these opening scenes I believe not only the structure of the play would be lost but also Shakespeare’s talent for immersing the audiences into the lives of his central characters. It is in these first few scenes that we are introduced to the scheming Iago, the over-trusting Rodrigo, the fair Desdemona and most importantly, Othello the tragic protagonist of the play. Shakespeare begins the play of Othello in the midst of an argument between Iago and Rodrigo. As the first characters that we are introduced to the audience become aware almost from the onset that not only are these characters important but the ‘thick lips’ that they discuss is also incredibly important. Shakespeare, in this opening scene is able to begin with a rush, but still provide, or imply, a lot of background information, this only keeps the audience interested in the play but also helps keep the pace. Even though predominantly Othello is a tragedy of love the opening scene does not begin with a direct introduction of the lovers. Instead, the play begins, and Desdemona and Othello are introduced, with a conversation between Iago, the villain of the play and Roderigo. I This opening conversation does much to depict the characters of Roderigo and Iago. Rodrigo is not very intelligent and is easily swindled out of money and actually trusts the sly Iago. Although wealthy, he is a weak and gullible man who is probably swindled often. On the other hand, Iago is pictured as a determined man who knows what he wants. He is also shown to be intelligent, with an excellent insight into human nature. He has no respect for Roderigo and simply uses him for monetary reasons. ... Free Essays on Is The First Act Of Othello Needed Free Essays on Is The First Act Of Othello Needed ‘Q) What case would you argue for both of these opinions? 1) ‘Without act one the audience would never understand the evil of Iago or the shaky foundations of the relationship between Othello and Desdemona’ The play ‘Othello’ opens in the streets if Venice. Without these opening scenes I believe not only the structure of the play would be lost but also Shakespeare’s talent for immersing the audiences into the lives of his central characters. It is in these first few scenes that we are introduced to the scheming Iago, the over-trusting Rodrigo, the fair Desdemona and most importantly, Othello the tragic protagonist of the play. Shakespeare begins the play of Othello in the midst of an argument between Iago and Rodrigo. As the first characters that we are introduced to the audience become aware almost from the onset that not only are these characters important but the ‘thick lips’ that they discuss is also incredibly important. Shakespeare, in this opening scene is able to begin with a rush, but still provide, or imply, a lot of background information, this only keeps the audience interested in the play but also helps keep the pace. Even though predominantly Othello is a tragedy of love the opening scene does not begin with a direct introduction of the lovers. Instead, the play begins, and Desdemona and Othello are introduced, with a conversation between Iago, the villain of the play and Roderigo. I This opening conversation does much to depict the characters of Roderigo and Iago. Rodrigo is not very intelligent and is easily swindled out of money and actually trusts the sly Iago. Although wealthy, he is a weak and gullible man who is probably swindled often. On the other hand, Iago is pictured as a determined man who knows what he wants. He is also shown to be intelligent, with an excellent insight into human nature. He has no respect for Roderigo and simply uses him for monetary reasons. ...

The Most Selective Colleges, Why, and How to Get In

The Most Selective Colleges, Why, and How to Get In SAT / ACT Prep Online Guides and Tips It's tempting to judge the quality of a school based on its admissions rate. Although this is a reasonable way to assess schools in most cases, there are some special circumstances that might result in extremely low acceptance rates at less academically demanding colleges. In this article, I'll list the most selective colleges in the United States, tell you why they accept so few of their applicants, and provide some advice on how to apply successfully. What Are Selective Colleges, and Why Are They So Picky? Selective colleges are schools that only admit a small percentage of the students who apply. For this article, I'm focusing on the most selective schools in the country, which I've defined as schools that admit less than 10% of applicants. There are several reasons why certain colleges end up with such low acceptance rates. Some schools are extremely selective because they’re looking for a certain specialized type of applicant, and very few students fit the bill. This category would include a school like Juilliard, which is only interested in admitting students who demonstrate virtuosity in music. Students must audition in front of members of the faculty as one of their application requirements. This group also includes military schools like West Point, where candidates must pass a physical fitness assessment and obtain a nomination from their representative in Congress or the Senate to be considered for admission. Other colleges are extremely selective because they’re looking for students with excellent credentials overall, and they can only afford to take the most high-achieving individuals out of the huge applicant pool they attract. These schools represent an intersection of popularity and very high standards. This includes Ivy League schools and schools like Stanford and MIT. These schools have strong name recognition even on an international level, so they attract a huge number of applicants. In 2018-19, Harvard offered admission to only 1,950 students out of 43,330 total applicants! In order to maintain their reputations, these schools can only choose the most outstanding students for each class. Usually, it takes more than just excellent grades and test scores to get in; you'll need these qualifications on top of other unique academic and extracurricular accomplishments. I'll go over the schools that fall into each of these categories in the next section. I assume this was the fate of most applications in the primitive time before the Internet. The Most Selective Colleges I've grouped the following selective colleges into two main categories: non-specialized schools and specialized schools. Non-Specialized Selective Schools First, I'll list some schools that have low admission rates because they're extremely popular and can only choose the strongest overall applicants. They're listed in descending order, starting with the most selective school. I'll also give you the statistics for the average GPA and SAT/ACT scores of admitted students. Keep in mind that even if your scores and GPA are technically at the same level as the averages at these schools, you can’t count on being accepted. Any school that has an acceptance rate of less than 15% is a reach school even for the best students, and any school with an acceptance rate of less than 30% is still very selective. College Name Acceptance Rate Average GPA Average SAT Average ACT Stanford 4.8% 3.95 1465 33 Harvard 5.2% 4.10 1520 34 Columbia 6.1% 4.14 1515 34 Yale 6.3% 4.12 1505 34 Princeton 6.4% 3.90 1500 33 MIT 7.2% 4.16 1528 34 Caltech 7.7% 4.22 1560 35 Pomona 8.4% 4.01 1450 32 University of Chicago 8.7% 4.29 1530 34 Claremont McKenna 9.0% 4.09 1490 32 Northwestern 9.2% 4.09 1490 33 Brown 9.3% 4.09 1488 32 UPenn 9.3% 3.93 1490 33 Dartmouth 10.4% 4.07 1478 32 Vanderbilt 10.7% 3.80 1475 34 Duke 10.8% 4.08 1485 33 The University of Chicago: subtly (or not so subtly) trying to inch its way into the Ivy League? Specialized Selective Schools Now I’ll list schools that are extremely selective because they have specialized programs and are looking for specific types of applicants. I'll also include the average GPA and test scores for each of these schools, although be aware that some of them do not report these statistics. In the case of highly selective music schools, test scores and grades are less relevant to a student’s likelihood of acceptance. These schools consider musical talent more strongly than academic performance. In this section, I’ve included a description of exactly why each school is so selective as well. College Name Acceptance Rate Average GPA Average SAT/ACT Why Is It So Selective? Curtis Institute of Music 4.0% Not reported Not reported This school is only looking for the most elite music students, and admission is "based on artistic promise alone." Curtis Institute also provides a full tuition scholarship to all of its students. These factors combined create an acceptance rate below that of even the most competitive colleges on the first list. The Juilliard School 5.9% Not reported Not reported Like the Curtis Institute of Music, Juilliard is only looking for a very specific and very talented subset of students. Students must audition for faculty members as a part of the application process, and performance standards are extraordinarily high. US Naval Academy 8.5% 3.94 1410 / 31 In order to attend the US Naval Academy, students must apply for and receive a nomination from a US representative, a senator, or the vice president. Students must also pass a physical fitness assessment and a medical examination. Academic standards are very high, so there is only a small subset of students who meet all the necessary requirements. US Military Academy (West Point) 9.6% 3.73 1300 / 25 West Point has such a low acceptance rate because it requires students to pass muster in other ways besides earning high test scores and grades. Applicants must complete a physical fitness assessment where they have to do as many push-ups as they can in two minutes (for me, this would be about 0.5), run a mile as fast as possible, and do a few other tests for agility and strength. They also have to apply for a nomination from a congressperson or senator from their state or from the vice president. Only students whose requests for nominations are granted will be offered a spot at West Point. Cooper Union for the Advancement of Science and Art 13.1% 3.50 1393 / 31 Cooper Union is an all-honors college where every student receives a half-tuition scholarship and is automatically considered for additional merit scholarships; it also has highly specialized programs in architecture, fine arts, and engineering. Students applying to each of the schools must take "home tests" designed by Cooper Union to determine their skill levels. Admission is based significantly on creative abilities in addition to high academic standing, which makes Cooper Union both popular and picky. Franklin W. Olin College of Engineering 13.4% 3.90 1497 / 34 The small size of the student body (fewer than 100 students are accepted each year), combined with the half-tuition scholarship all accepted students receive, make Olin a desirable and competitive college to get into. Because Olin is an engineering school, students must demonstrate aptitude in areas like calculus and physics in addition to overall academic excellence. West Point graduation looks fun, but they're actually throwing up their hats in a very specific military formation. This is a tactic used to confuse and distract the enemy with its appearance of reckless exuberance. What to Do If You're Aiming for the Most Selective Colleges If you're hoping to attend one of these selective schools, that's great! There's no magic formula for acceptance, but you also don't have to rely on luck if you play your cards right. To have a solid chance of acceptance at one of the non-specialized selective colleges, you'll need to take the most difficult classes throughout high school while earning very high grades. As you can see by the average GPAs for admission at these schools, it's expected that most students will have high school transcripts dominated by As. SAT/ACT test scores are also very important; your scores should be at or above the average for admitted students. Even at non-specialized schools (but especially at specialized schools), it's important to show excellence in one academic or extracurricular area if you want to stand out from the crowd. Since you're competing with so many applicants, and most of them will have academic credentials that are just as good as yours, you need to find a way to demonstrate your value as a member of the college community that goes beyond grades and test scores. The most selective schools appreciate passion, drive, and outside-the-box thinking. If you can develop a specialization that shows them that you possess those qualities, your chances of acceptance will be very strong. Read this article for more advice on what it takes to get into extremely selective schools. What's Next? If you're hoping to attend a highly selective school, you'll need to have a very strong academic record in high school. Learn more about high school honors classes and societies. Not sure what your GPA means for your chances of college admission? Find out what a good or bad GPA might look like based on your goals. College ranking lists can strongly influence how people view the quality of certain schools. Read this article to get a more complete picture of what ranking lists really mean and whether you should trust them. Want to improve your SAT score by 160 points or your ACT score by 4 points? We've written a guide for each test about the top 5 strategies you must be using to have a shot at improving your score. Download it for free now:

Tourism and Hospitality Businesses Essay Example | Topics and Well Written Essays - 6250 words

Tourism and Hospitality Businesses - Essay Example In this regard, an effective brand positioning strategy will be formulated for the company through identifying the current scenario of the industry in the respective industry in this study. Furthermore, the report will also incorporate the roles of different stakeholder groups along with the significance of marketing audit process in Thomas Cook. 2.0. Analysing the Fundamental Structure and Goals of Thomas Cook Group Plc Thomas Cook Group Plc (TCG) is recognised as one of the renowned and most successful brands in the global tourism and hospitality industry. The organisation has been performing with a consistent growth marketing its wide range of exceptional tourism and hospitality facilities to the global clients. In relation to the business structure and strategic goals of the company, it is widely accepted that the organisation highly seeks to develop its growth through complying with its fundamental guiding principles (Thomas Cook Group Plc, 2013). The fundamental structure of TC G has been thus considerably focused on empowering customer experiences through its exceptional leisure travel facilities and practices. In this context, the business structure of the company can be regarded as one of the major and crucial parts which ensure to accomplish its desired business goals in the global tourism and hospitality industry. The business structure of TCG also tends to comply with numerous groups and individuals who are highly committed to abide by the strategic direction of the company deciphering extensive stakeholder engagement (Thomas Cook Group Plc, 2010). Fig: Board Composition structure of TCG Plc. Source: (Thomas Cook Group Plc, 2009) The major divisions in the organisational... This essay approves that the Human Resource Management division of TCG can also be regarded as one of primary contributors which have empowered the organisation to meet its ultimate financial and operational goals. In this regard, the HRM division of the company tends to follow well-structured and specific as well as transparent principles which are likely to improve the performance of the employees and ensure to increase the ultimate productivity of the organisation. Moreover, the HRM department of the organisation comprises adequate measure throughout the organisational structure that enables the employees to continuously reinforce their capabilities. This report makes a conclusion that TCG has been recognised as one of the major dominant and reliable tourism and hospitality organisations which intend to reinforce its performance through developing its business structure and its predetermined business goals in accordance with the external market changes. The business structure of the organisation is highly authenticated in accordance with its stipulated business objectives and goals which further indicate long term sustainability of TCG in the fiercely growing tourism and hospitality industry. In this regard, adequate significant of TCG towards the analysis and compliance of the organisational policies with the current industrial circumstances can provide adequate support to TCG in terms of increasing its efficiency of delivering exceptional tourism and hospitality packages to the global clients. In this context, the company should highly emphasise on preserving effective balance between the internal and external groups of stakeho lders.

Harlem Renaissance Poets Essay Example | Topics and Well Written Essays - 750 words - 7

Harlem Renaissance Poets - Essay Example The author’s role and importance will be described, and the elements of double consciousness in their poems will be identified. Subsequently, the primary themes in the poetry of the time will be described and finally, I will present my own poem that expresses the identified themes of the Harlem renaissance. Poetry had a significant place in this movement because of its brevity of expression. There were many scholars of the time who stand out as representatives of the movements. Langston Hughes, a poet and scholar, was an outspoken critic of the racial polarization between the White and Black races in America. He also criticized some Black writers who he saw as adopting Eurocentric values while still championing for social equality. His poems explored the Black experience with a sensibility that captured its struggles, resilience, beauty, and complexity. Although he was later criticized for being a racial chauvinist, Hughes introduced a new literary aesthetic that celebrated African-American forms of literary expression (Shaduri, 2010). Hughes’ emphasis on racial consciousness and Black cultural nationalism would later influence many writers. Hughes’s recognition of the dualism of his experience as both encompassing the African and American is aptly captured in his seminal poem The Negro Speaks of Rivers. In The poem, the persona declares his involvement with the rivers Euphrates, Congo, Nile, and Mississippi. As a result of the persona’s diverse experiences and imbrications in the cultures of the African and American continents, the persona reminds the reader that: â€Å"my soul has grown deep like the rivers.† While there is a psychological, cultural, and artistic dilemma invoked by the involvement of both cultures and histories with each other, Hughes’s refrain suggests transcendence over them, implying complexity and richness of the African-American experience. Countee Cullen also engaged and questioned the complexity of the

Cost Centres, Profit Centres, Investment Centres Essay Example for Free

Cost Centres, Profit Centres, Investment Centres Essay The increasing complexity of today’s business environment makes it virtually impossible for most firms to be controlled centrally. Decentralisation is a necessary response to this increasing complexity and involves the delegation of decision-making responsibility by senior management to sub-ordinates. The structure is such that decision making is dispersed to various units within the organisation, with managers at various levels making key decisions relating to their centre of responsibility. These centres of organisational activity are known as responsibility centres and may be defined ‘as a unit of a firm where an individual manager is held responsible for the unit’s performance. ’1 The performance of each centre and its manager is measured and controlled through a system of responsibility accounting which is based on the principles of locating responsibility and tracing costs/revenue/investments etc. to the individual managers who are primarily responsible. The division of the firm into separately identifiable units of responsibility allows for more accurate measurement of managerial performance because local information is more thorough. Overall, in order to obtain an accurate measurement of managerial performance, measures should be based on elements which the manager can control or significantly influence. There are three main types of responsibility centre. A cost centre is the lowest level of responsibility, and performance is measured in terms of the costs incurred by it. Cost centres do not generate revenue and therefore have no profit objectives, which differentiates it from profit and investment centres. Managers of cost centres are accountable only for controllable costs and are not responsible for level of activity or long-term investment decisions. Managerial performance is measured by efficiency of operations in terms of the quantity of inputs used in producing a given output. The basis of this type of measurement lies in comparing actual inputs to budgeted controllable costs or some predetermined level that represents efficient utilisation. Cost control and efficiency of operations are the main elements of this type of unit. However, costs in general can be difficult to measure, trace and allocate and it can be difficult to differentiate between controllable and uncontrollable costs. This poses a major drawback for the evaluation of cost centres and their management, since cost is its main element of measurement. The focus being mainly on costs, makes this centre some-what weak in terms of evaluation and measurement of managerial performance. Cost centres can be split into two different types; standard cost centres and discretionary cost centres. In the former, measurement is exercised by comparing standard cost with actual cost. Variances would be indicative of the efficiency of the centre and therefore its managers’ performance. Discretionary cost centres are centres where output cannot be measured in financial terms, for example advertising and publicity, RD etc. ‘Control normally takes the form of ensuring that actual expenditure adheres to budgeted expenditure for each expense category.’2 However, a major problem with this type of responsibility centre is the measurement of the effectiveness of expenditure and the determination of the efficiency of the centre itself and its management. A profit centre offers an additional element to the measurement process in that both inputs and outputs are measured in monetary terms. The manager of a profit centre has increased autonomy as s/he is responsible for revenue as well as costs; hence it is easier to measure the effectiveness and efficiency of managerial performance in financial terms. ‘In this situation, managers are normally free to set selling prices, choose which markets to sell in, make product-mix and output decisions and select suppliers.’3 A profit centre differs form a cost centre in that its main objective is to maximise profit and the performance of the manager is measured in terms of profit made. Top executives allocate assets to a profit centre, and the manager is responsible for using these assets to make a profit. Each profit centre has a profit target and has the authority to adopt such policies that are necessary to achieve these targets. Profit centre managers are evaluated by comparing actual profit to targeted profit. Profit analysis using profitability ratios or segmented income statements are used as a basis for evaluating managerial performance. The major issue with profit statements is the difficulty in deciding what is controllable or traceable, and in order to assess the managers’ performance rather than the economic performance of the unit, measures must be based on controllable profit only. Another difficulty arises in allocating revenue and costs to profit centres, as it is unlikely that the profit centre is completely independent. This has prompted many firms to use multiple performance measures such as a balanced scorecard, which measures non-financial as well as financial elements of the unit. The measurement of profit is also compounded by the use of transfer prices and agreeing on its ‘fairness’. Transfer prices are allocated to goods transferred from one unit to another within a firm. The implication of transfer prices is that for the selling unit it will be a source of revenue and for the receiving unit it is an element of cost, and as a result each division may act in its own interests. Transfer pricing therefore has a significant bearing when calculating revenues, costs and profits of responsibility centres. The choice of transfer pricing method is important because it affects goal congruence as well as performance measurement. However, it is difficult to determine the correct transfer price, as there are a wide variety of methods available, varying from negotiation to approaches based on the market or based on cost. The investment centre manager has increased responsibility in comparison to the cost and profit centre managers and as a result there are further options for managerial performance measurement by top management. The investment centre manager has responsibility for revenue and costs, and also has the authority to make capital investment decisions. This type of unit represents the highest level of managerial autonomy. An investment centre differs from a profit centre in that investment centre management is evaluated on the basis of the rate of return earned on the assets employed or the residual income earned, while profit centre management is evaluated on the basis of excess revenue over expenses for the period. The manager in charge has the objective of profitability, depending not only on sales but also on profitability of the capital used. Overall, investment centres offer the broadest basis for measurement in the sense that managerial performance is measured not only in terms of profits, but also in terms of assets employed to generate those profits. Performance can be measured using a variety of tools, and this ensures that the drawbacks of one method are overcome by the merits of another. This in turn leads to more accurate results and is one of the main reasons why investment centres are so popular as a means of managerial performance measurement in large companies. Both the effectiveness and the efficiency of the manager can be assessed by reference to the accounting data available. Investment centres offer many qualities required for good managerial performance measurement. For example, they provide incentives to the unit manager, they can recognise long-term objectives as well as short-term objectives and the increased responsibility means there are more controllable factors for use in performance measurement calculations. Return on investment is a measurement approach in common use in investment centres. This method has the advantage of being simple and easy to calculate. ‘ROI expresses divisional profit as a percentage of the assets employed in the division.’4 It has the further advantage of motivating managers to achieve the best return on investments in order to achieve the associated rewards. ROI provides a return measure that controls the size and is comparable to other measures. It can be used as a common denominator for comparing the returns of similar businesses, such as other divisions within the group or outside competition. It is widely used and most managers understand what the measure reflects. However, some complications arise in the calculation of this method. For example, difficulties regarding the calculation of profit, some of which are described above. Profit can be defined in a number of ways and this enables the figure to be manipulated. In the case of the figure for investments, the question arises whether this should be total assets (gross or depreciated), total operating assets or net total assets. The result would differ in each case, but if consistency is maintained throughout the organisation, decisions would remain unaffected. Another difficulty that may arise in relation to this method is that managers may focus on self-interests rather than the overall goal of the organisation and some profitable opportunities may be ignored because s/he fears potential dilution of existing successful endeavours. Furthermore, ROI does not adequately recognise risk. A manager who generates a large ROI result may be investing in riskier assets which may not be consistent with organisational goals. Use of ROI as a managerial performance measure can lead to under or over investment in assets or incorrect asset disposal decisions, in order to achieve the result the manager requires to accomplish his reward. To overcome some of the above difficulties, many firms use residual income to evaluate managerial performance. This method seeks to motivate managers to invest where the expected returns exceed the cost of capital. For the purpose of managerial performance measurement, ‘it compares the controllable contribution of an investment with the targeted rate of return.’5 There is a greater possibility that managers will be encouraged to act in the best interests of the company. Another advantage of this method is that it is more flexible because different cost of capital rates can be applied for different levels or risk. Though ROI and RI operate on a similar basis, RI proves better in certain circumstances. For example, if ROI is chosen as the measuring technique, managers may be reluctant to make additional investments in fixed assets as it may bring down the ROI for their centre. RI calculation results would be more accurate in these situations. However, residual income does not overcome the problem of determining the value of assets or the figure to be used for profit. If RI is used in a short-term perspective, it can over-emphasise short-term performance at the expense of long-term performance. Investment projects with positive net present values can show poor ROI and RI results in early years, leading to rejection of projects by managers. Residual income also experiences problems in comparing managerial performance in divisions of different sizes. The manager of the larger division will generally show a higher RI because of the size of the division rather then superior managerial performance. Another drawback for this method is that it requires an estimate of the cost of capital, a figure which can be difficult to calculate. Economic value added is an extension of the residual income measurement. It measures surplus value created by total investments which include funds provided by banks, shareholders etc. Its key element is the emphasis on after-tax operating profit and the actual annual cost of capital. The latter aspect differentiates it from the RI measure, which uses the minimum expected rate of return. EVA is a further step towards encouraging centre managers to concentrate on the overall goal of the organisation rather than their own self interests, hence reducing dysfunctional behaviour. The above measures are financial measures. As stated previously, it is important also to study non-financial aspects, such as customer satisfaction, quality, internal processes, growth etc. in order to get a more complete picture when measuring managerial performance. The above measures also focus on performance within the investment centre and do not consider the performance relative to overall company objectives. In conclusion, it can be stated that in order to assess managerial performance as opposed to the economic performance of the division, it is vital to make a distinction between the controllable and uncontrollable elements used in the chosen calculations. Each measurement technique is not without limitations, but these difficulties can be overcome by using a wide variety of measurement tools and striking the right balance between them. Of the three types of responsibility centre, an investment centre can be considered to yield better results, as it allows for the broadest basis for measurement, making it widely popular as a means of managerial performance measurement. 1 C. Drury, Management and Cost Accounting, 6th Ed. P. 653 2 C. Drury, Management and Cost Accounting, 6th Ed. P. 654 3 C. Drury, Management and Cost Accounting, 6th Ed. P. 654/655 4 C. Drury, Management and Cost Accounting, 6th Ed. P. 845 5 IPA Manual, Management Accounting, P 239

Utilitarianism, Economics and Ethics Essay -- Flaws in Utilitarianism

Imagine a child living in a hot, government owned apartment in Chicago. He has no father. With his single, jobless mother he struggles to the words of the founding fathers: â€Å"We hold these truths to be self-evident, that all men are created equal; that they are endowed by their Creator with inherent and inalienable Rights; that among these, are Life, Liberty, and the pursuit of Happiness...† (The Declaration of Independence). This is one of the most famous phrases in the US Declaration of Independence and has become the underpinning of the dreams of millions of people around the world. Although the words are different, these sentiments are reflected in the political and economical policies of many democracies. While the notion of ‘happiness for all’ seems like the obvious solution to many of our persistent problems, we inevitably encounter conflicts between our actions and our morals. â€Å"The state is based on†¦Ã¢â‚¬ ¦the contradiction between public a nd private life, between universal and particular interests. For this reason, the state must confine itself to formal, negative activities.†(Marx, 1992). This essay focuses on the issues of a prominent theory, Utilitarianism as it blends and encompasses both areas of Economics and Ethics which have become the basis of our governmental bodies. In Utilitarianism the aim of our actions is to achieve happiness for the greatest number of people. â€Å"Actions are right in proportion as they tend to promote happiness, wrong as they tend to produce the reverse of happiness.† (Mill, 1971). Utilitarianism directly appeals to human emotions and our reactions to different events. Emotions are a fundamental Way of Knowing and influence both ethical and economical theories. In most cultures there are fundame... ...eories to stay stagnant and restrictive at the same time as our economies, ethical systems and societies are changing so dramatically right in front of us? Works Cited Brannigan, Jack. The Purpose of Life & the General Theory of Ethics. Nebraska, USA: iUniverse, 2005. The Declaration of Independence: A Transcription. Web. 14 June 2015. http://www.archives.gov/exhibits/charters/declaration_transcript.html Jenkins, Author Joe. Ethics and Religion. Oxford, UK: Heinemann Educational Publishers, 2003. Lagemaat, Richard van de. Theory of Knowledge for the IB Diploma. Cambridge, UK: Cambridge University Press, 2005. Marx, Karl. Early Writings. London, UK: Penguin Classics, 1992. Rothbard, Murray N. Ethics of Liberty. New York, USA: New York University Press, 1998. Sen, Amartya. On Ethics and Economics. Oxford, UK: Blackwell Publishing, 1988.

Family Health Assessment Questions Essay

1. How would you describe your family’s current state of health? 2. What are you doing to promote health? 3. Are there any habits that can be detrimental to you or your families health? Nutrition and Metabolism: 1. Is there any diseases or medical complications that affect nutritional or metabolic function? 2. What is a typical family meal, and typical daily fluid intake? 3. Are there any physical complications preventing or making obtaining the proper nutrition or daily caloric or fluid intake? Elimination: 1.Explain your normal bowel, bladder patterns. Have there been any changes in these patterns? 2.Do you have any problems with constipation or diarrhea? Activity and Exercise: 1. What do you and your family do for physical activity and exercise? 2. How many days/hours of physical activity a week do you do? Cognitive: 1. How does your family acquire information about health diagnosis? 2. Who makes the decisions regarding health care for you and your family? Sleep and Rest: 1. How many hours of sleep on average per night do you and family members get? 2. Are there any difficulties with falling or staying asleep? Do you feel rested in the morning? Self -Perception- Self-Concept: 1. How does your family feel they integrate into the community? 2. How does the family describe the events that led to a change? Roles and Relationships: 1. How does the family manage daily living and how are household tasks divided? 2. Who is employed in the household and who holds financial responsibility? Is it shared? Sexuality-Reproductive 1. Individually are you comfortable with your partner in discussing sexuality. 2. How do as a married couple view marriage, parenthood and relationship as lovers? Coping-Stress Tolerance: 1. How does your family cope with stressful life events? 2. What resources do you have access to or use already? Values-Beliefs Pattern: 1. Do you as a family identify with any cultural, ethnic, religious, or other organizations? 2. What are your family’s values and beliefs and how do they influence your daily life?

Poisonwood Bible Character Analysis Essay

In the book The Poisonwood Bible by Barbara Kingsolver, the narration is done by five of the main characters: Orleanna, Rachel, Leah, Adah, and Ruth May Price. When analyzing the narrative led by Leah Price, a 14-year old tomboy, the reader may notice her progression from a young girl who idolizes her father and loves him more than anyone else, into a rebellious young woman who despises her father. Some of Leah’s more prominent characteristics are her compassion and devotion. These characteristics are portrayed from the very beginning when Leah follows her father around even saying that, â€Å"I know he must find me tiresome, yet I still like spending time with my father very much more than I like doing anything else† (Kingsolver 36). In that context, Leah is still a young girl, who basically worships her father and does everything he does, loves everything he loves, but he does not give her anywhere near that much love in return. This is also evident on pages 41-42; she goes on about how awesome her father is and how admirable he is, almost justifying her idolizing him. Also, Leah states that â€Å"His devotion to its progress, like his devotion to the church, was the anchoring force in my life throughout this past summer† (64). These things are very important because it shows just how much Leah’s persona is affected by her father, also how influential he is on her beliefs (with emphasis on religion). After one has read the book The Poisonwood Bible and begins analyzing the text, one may notice that in the first part, there are events between the females of the Price family, and the father. In Book One, Genesis, in Leah’s narrative, starting on page 64, she describes a situation where her and her sisters were accused of teaching Methuselah (their parrot) a bad word. Going on to page 68, it appears that the girls were not actually responsible, but the emotionally jarring part is in the second paragraph of that page when she says, â€Å"Once in a great while we just have to protect her,† and Leah goes on to explain how her mother is chastised by her father, for â€Å"sins of womanhood.† Consequently, it seems as though these happenings were just the flint and steel of a fire in the making, most apparently in Leah. The first notion of rebellion starts on page 101, Leah’s narrative, but the strike is on page 115 when she announces, â€Å"For the first time ever I felt a stirring of anger against my father for making me a white preacher’s child from Georgia.† This strike failed to start a sustainable fire, as obviously when she goes with her father to Leopoldville, and actually says upfront, that she and her father â€Å"have patched things up.† Also when she explains to Mrs. Underdown how her father knows what’s best â€Å"in the sight of the Lord,† and that they were all â€Å"privileged to serve.† In this case, it is two steps forward, away from her father, but one step back. Leah’s next big step forward comes in Book Three, The Judges, when she begins to truly doubt her father: If his decision to keep us here in the Congo wasn’t right, then what else might he be wrong about? It has opened up in my heart a sickening world of doubts and possibilities, where before I had only faith in my father and love for the Lord. Without that rock of certainty underfoot, the Congo is a fearsome place to have to sink or swim. (244) Kingsolver uses imagery, so the reader might begin to see what Leah is seeing, and relate to her statements; her doubtful mind of her father could be very easy for readers to understand, maybe not all are able, but those who are may create an attachment to this character. People might say that the world is a place full of lies, deceit, and pain. Others might say that truth, justice, and happiness are just as common, or need to be. Leah has a strong sense of justice, and she believes that her father provides just that, but then she starts asking, â€Å"What if he’s wrong?† and that opens her mind to imagine her father, who was everything she believed was good and right in the world, her idol, as someone who isn’t so great after all; he made a mistake. As a result of this, she rebels, and starts turning away from her father. â€Å"Leah is the cause of all our problems†¦Leah would rare up and talk back to Father straight to his face†¦Leah always had the uppermost respect for Father, but after†¦ they voted Father out, she just plumb stopped being polite† (335). That quote is from Rachel’s narrative in Book Four, Bel and the Serpent; she continues to explain how Leah’s rebellion against their father began when she tried to go hunting with the men. Eventually, Leah’s contempt toward her father caused her to leave behind everything she loved because he loved it, mainly her religion. She continued was always very intelligent, and she grew up and became a teacher, but she was still a tomboy at heart, and she was still devoted, not to her father, but to her husband instead. Leah Price, a 14-year old tomboy who once idolized her father completely, became a woman married to a man of Kilanga, who opposed her father; she no longer believed in the God of her father, she live d among the people of Africa and married an African man. She was no longer a duckling to her father, but her own complete person who had her own opinion and beliefs and independence.

buy custom She Loves a Challenge essay

buy custom She Loves a Challenge essay 1. The four stages of team development included: (a) solving employees private issues; (b) solving employees collective issues; (c) implementation of new rules and motivation; (d) the continuity of the system, promoted by old workers with changed models of collective action. According to Tuckmans teamwork theory, they can be defined as forming, storming, norming, and performing respectively (The Happy Manager, n.d.). The first stage included one-to-one sessions with each employee that was aimed at revealing personal motives and principles of interaction with the rest of the staff. The director explained the above-mentioned as a difficult start with the purpose of changing personal attitudes. The second stage required the confrontation of employees altogether to ensure revealing, discussing and eliminating the basis for future confrontations. The aim of this stage was explained clearly and honestly. The director agreed that it was an extremely difficult task, but it was also of crucia l importance for future collective interaction in a positive way. The next stage was about the implementation of the new rules, which excluded potential threats of conflict behavior. The rules were explained in a strict manner, though by motivation of the staff followed it. Overall, this stage of team development is characterized as implementing new principles of collective conduct, shifting accents from I/me to us/we. The director reasoned that unity of action and thought at work provides a positive-thinking environment that enhances the productivity. The last stage was the succession of a new paradigm of collective action. This time, old employees with brand new model of cooperative interaction were sharing it with individuals that wanted to fit this system. Thus, the circle of succession was closed and the new model became fixed and permanent. 2. In this case, the directors strategy affected team spirit and team work. These notions are different because team spirit mainly means the characteristic of psychological atmosphere of the staff, whereas teamwork is the process of collaborative completing the task in order to achieve the set goal (How to Build, n.d.). If every individual from the staff shares collective values and appreciates the views of ones colleagues without confronting them, such staff can be characterized as the one that has team spirit. Organizations can experience serious troubles while lacking team spirit. Even a well-organized and planned venture may fail its objectives without the commitment of the team behind it. Building team spirit is about engaging the emotions of the team members (How to Build, n.d.). In its turn, team-work is the process affected by the existence of the team spirit. When every individual trusts his or her colleagues, it will assist an effective teamwork. Thus, a team is more than a group of people, aimed at the achievement of a collective goal. It is a group of people, which strength is based on the relationships among team members. Members of such group are interdependent. An ideal team is characterized by the feedback and communication behaviors of its members, their behavior and conduct courtesies, and their ways of approaching tasks and problems (Nazzaro Starazzabosco, 2009). This particular case has stressed team spirit in order to change it and improve the characteristics of the teamwork. 3. MBWA is a practice of team building that has full name as Management By Wandering Around, or Management By Walking About. This concept includes approaches aimed at active interaction of a director or a staff manager with his or her team. Experts say this practice can increase the potential of a team through the influences on staff approachability, trust, business knowledge, accountability, morale and productivity (Management By Wandering Around, n.d.). All in all, this practice makes a director an active member of the life of ones staff, providing him or her with persistent contact with the team. In connection to the studied case, such choice of a management approach by the director serves as evidence that she is an open-minded person, willing to take part in daily life of her team and be able to assist it whenever there is a need. The case also serves as an example of great teambuilding skills the director has. Judging from the presented case, one may assume the results of the ab ove-mentioned approach were extremely productive as it was supported by the evidence. The director observed positive effect of her methods of teambuilding: employees seemed to become closer together, all sources of confrontations were excluded, and the staff worked according to the new principles of work. 4. Dr. Shaheen used various methods for motivating her employees. Her usual accent was on the unproductiveness of selfish behavior while being a part of a team. The behavior of the director in this sense goes along with McClellands theory of learned needs. According to this approach, a person is led by three motivation factors in ones life: achievement, affiliation, and power (McClellands Human Motivation Theory, n.d.). Dr. Shaheen first referred to achievement, stating that the team is to successfully achieve its tasks and be productive. Then, she shifted to affiliation, applying to the fact that hand-in-hand work provides a great experience of cooperation. Power was mentioned the last, insisting that a united team can achieve greater goals than a usual group of people. Thus, the director used a comprehensive method of motivating her team. Another positive fact about her approach is that she did not try to motivate the team with money. Motivation by material things has a short-term perspective, but more important goals and challenges need a ground that is more stable than finance. More than that, the question of difference in wages may lead to confrontation of one member of a team with another. If I happened to be a consultant observing Dr. Shaheens performance, I would advise her to conduct sociometric studies from time to time. I believe that this procedure would add more objective information concerning the relations inside the team because sociometric measurement methods give insights about an individuals social competence and standing within an examined group (Busse, 2009). Such analysis would make it possible to ensure minor corrections in the attitudes of team members towards each other. Buy custom She Loves a Challenge essay

Art History: Traditional and Contemporary Essay artist, art, painting

Today, society call many â€Å"works† produced by individuals and call themselves artist, but is it really art? If you were to try to determine a definition for the word: art, you would find it to be an elusive word. I recently observed a landscaper cut and shop a pine tree which had overgrown in size. Although, some would say the pin... ...know it will go eventually the way of the west. Art is important to learn and to appreciate while we have the means to do so. Incorporating all of the elements which make for traditional or modernistic art is in the hands of this generations and like the mentors of yesterday, today we need to look around us for the next Rembrandt or Picasso. Tomkins, Calvin. Time Life Library of Art: The World of Marcel Duchamp. New York: Time Incorporated, 1966. Print Coughlan, Robert. Time Life Library of Art: The World of Michelangelo. New York: Time Incorporated, 1966. Print Getlein, Mark. Living with Art. 10th ed. New York: McGraw Hill, 2011. Print Lynton, Norbert. The Story of Modern Art. Ithaca, New York: Cornell University Press, 2008. Print Eimerl, Sarel. Time Life Library of Art: The World of Giotto. New York: Time Incorporated, 1966. Print

Expansion & growth is the topic to write about Essay

Expansion & growth is the topic to write about - Essay Example Later, in the 16th century, California became under the control of Spanish and British colonizers. Gradually, the settlers began to control the indigenous population. The Bear Flag Revolt in the year 1846 in California is symbolic of the rebellious attitude of the settlers and the formation of California Republic. The California Gold Rush (say, between1848 and1855) is another major period in the history of California. During this period, the influx of immigrants in search of gold changed the distribution of population in California. Later, the Compromise of 1850 led to the formation of California as a free state within the United States of America. Earlier than European colonization, California was sparsely populated because the Native Americans used to settle in different areas of California. The European settlement resulted influx of immigrants and rapid urbanization. To be specific, the California Gold Rush or the influx of gold-seekers resulted in the rapid urbanization of California. The small settlements in California rapidly transformed into towns and cities. Now, California enjoys the largest gross state product (GSP) among the states within the United States of America. Ignacio Gonzalez stated that â€Å"In February 2001, California’s unemployment rate dropped to 4.5 percent, the lowest level since the late 1960s† (351). The growth in GSP is most important because it represents the expansion and growth of California. In the present condition, the Californian economy depends upon international trade and commerce. Transportation facilities in California consist of the network of roads (freeways, expressways and highways), airways (commercial and general aviation), seaports (for example, Port of Los Angeles) and rail lines (intercity rail lines, light rail systems etc). Summing, the expansion and growth of California from a small settlement area to a free state and its development is interconnected

Management Accounting Essay Example | Topics and Well Written Essays - 750 words

Management Accounting - Essay Example In the ABC approach, the costs are computed based on the activities and not on the labour or machine hours. Each activity has a cost driver attached to it and the ABC system utilises this cost driver to distribute the costs among the products (12 Manage, 2008). When the ABC Costing approach was followed, the profit margin per unit for Parrot was recorded as  £ 87.09 and that for Toucan was computed as  £ 63.88. In this case, the difference of profit per unit amounts to only  £ 23.21. ABC system indicates that the profit from Toucan is actually higher as opposed to the absorption costing system. Also, the cost drivers indicate that the M/C setup takes up a high amount of costs as the overheads. Hence it is made evident that the number of setups has to be reduced. This will result in higher profits for Bird Gardens (Cokins, 2001). In order to analyse the efficiency and to increase the profits of the company, it is essential to follow the ABC

Human Resource Planning and Forecasting Essay Example | Topics and Well Written Essays - 500 words

Human Resource Planning and Forecasting - Essay Example *Granny Toy Company must also make sure that the strategy of the business is linked with the performance of its employees. The Company may also allow employees to design the objectives for the Company because it is then that they will be able to develop a better understanding of the goal and will work accordingly to accomplish it. This will also result in improved performance of the employees. * Granny Toy Company must try to work hard to retain the talented workforce of the Company, as the employees are considered to be an important asset of the company. For this purpose the Company must design an effective compensation and benefit plan for its employees. *The flexible environment provided by the Company to the employees also affects the staffing process. The environment of the Company must be easily adaptable i.e. it should be flexible enough that new employees can easily adjust in it. *When new employees are being hired by the Company for their expansion and additional products it is important that the Granny Toy Company gives them enough time to develop their skills and adjust in the organizational environment. They must train them with the skills essential for the position they are about to cover. Sometimes time can be an essence for Granny Toy Company. In such a case it will be effective that the company selects employees with the required skills within the organization i.e. the internal supply of employees, as it will save a lot of time and will reduce the HR cost. *The external environment forecasting (Event based forecasting) may also impose certain impact on staffing needs of the competitors existing in the industry. *Some legal factors such as certain laws related to the labor and some socio economic factors such as the number of women working in the respective industry etc. may also affect the staffing process of Granny Toy Company; therefore the company must foster

Adaptive Market Hypothesis and Behavioural Finance

Adaptive Market Hypothesis and Behavioural Finance An Essay on the Relationship between Andrew Lo’s Adaptive Market Hypothesis and Behavioural Finance 1.0  Introduction When in 1936, Keynes compared financial markets to a beauty contest where competitors had to guess who the most popular choice would be, he did not imagined that economists would become fascinated with the contest for explaining the efficiency or inefficiency of that market. Indeed, the global financial crisis of 2008 brought to bare the bitter rivalry between traditional finance theorists and their behavioural counterpart over the realism of assumptions explaining competitive market equilibrium, rational choice theory and rational expectations. Prior to the crisis, the dominant view in mainstream economics and finance (as exemplified in the assumptions of efficient market hypothesis) had been that: individuals are broadly rational, risk averse, maximize their expected utility of wealth, and follow the tenets of subjective probability theory. Hence, the capital market is seen as perfect and generating financial returns which are unforecastable. To put it more aptly in the words of Fa ma (1970), â€Å"prices fully reflect all available information†, an idea that has come to be known as market efficiency. However, the fallout from the financial crisis saw a bourgeoning interest in behavioural economics due mainly to the failings of traditional economic theory to explain many observed market anomalies. Behavioural economists pointed out a number of basic logical mistakes in the efficiency reasoning, which they attributed to behavioural biases and cognitive limitations, which are universal to human decision-making under uncertainty. Some of the documented biases cited in Lo (2004) include overconfidence, loss aversion, overreaction, psychological accounting, herding, miscalibration of probabilities, hyperbolic discounting and regrets. Accordingly, the behaviourists opine that these biases provided evidence that markets are not only inefficient, but that its participants are often irrational. Herein lies the intellectual crux of the debate, which has continue to shape the study and practice of economics and finance. Indeed, while some economists may want to uphold their firm beliefs in market efficiency and rationality, others may as well seek alternative approaches in behavioural finance. Between these two approaches, however, there may be economists who seek for a compromise. This is where Andrew Lo classic work on the adaptive market hypothesis readily falls in. This essay proceeds as follow; section two explain the Adaptive Markets Hypothesis, its theoretical postulations and relationship with behavioural finance, section three critically examine this relationship, and section four concludes the essay. 2.0The Adaptive Markets Hypothesis (AMH) Explained Andrew Lo’s adaptive market hypothesis was based on evolutionary principles of competition, mutation, reproduction and natural selection in biology. Lo, in his 2004 seminal article on the Adaptive Market Hypothesis, suggests that â€Å"individual makes choices based on past experience and their ‘best guesses as to what might be optimal, and they learn by receiving positive or negative reinforcement from the outcomes, (and) if they receive no such reinforcement, they do not learn.† Thus, the AMH implied that investor behaviours such as overreaction, loss aversion, overconfidence, and other behavioural biases are constructed and shaped by a dynamic interplay between investors’ internal cognition and their external environment that then produces evolutionary traits, in which heuristics develop, transform, boom or die out depending on the market settings. As an example, if a market setting is stable, heuristics is likely to yield an optimal or rational choice for investors. While an unstable market environment characterized by risks and uncertainties, yield various forms of behavioural biases. In such instances, ‘rational’ decisions are always evolving as investors’ develop a new set of heuristics in reaction to a changing market environment. These views was developed further by Lo (2005), where he highlighted the main propositions of the AMH to include that: Individuals act in their own self-interest. Individuals make mistakes. Individuals learn and adapt. Competition drives adaptation and innovation. Natural selection, shapes market ecology. Evolution determines market dynamics. In this context, Andrew Lo’s AMH can be said to revolve around three main processes of heuristics development, learning, and an adaptation process of decision making, whose combined impacts on financial institutions help determine market efficiencies, and the waxing and waning of investment products, industries, and even individual and institutional fortunes (Lo, 2005). 2.1The Adaptive Market Hypothesis and Behavioural Finance The uncertainty associated with efficient market hypothesis had led behavioural finance scholars to offer a departure from fully rational behaviours in finance models to behavioural biases or heuristics amongst investors that arguably explains human decision makings under uncertainty. Indeed, most empirical literature on behavioural finance have explained well-recognised market anomalies which contrast standard finance theories. Some of these studies include Kahneman and Tversky (1979), Bernard and Thomas (1990), Benartzi and Thaler (1995), Mehra and Prescott (2008), etc. however, none of this literature was able to present a coherent alternative model that could match the dominancy of standard finance literature. Fama (1998) aptly capture this non-coherence in their arguments when he said, â€Å"a problem in developing an overall perspective on long-term return studies is that they rarely test a specific alternative to market efficiency, instead the alternative hypothesis is vague, market inefficiency.† Thus, Andrew Lo’s AMH was one main attempt at providing a philosophical and theoretical foundation for behavioural finance. Indeed, one stated objective in Lo’s 2004 classic article was to reconcile understandings from efficient market hypothesis with behavioural finance and psychology. Like behavioural finance, AMH explains loss aversion, equity price premium, overreaction, momentum based trading strategies, and other heuristic driven biases by the fact that in a dynamic market environment, investors develop new sets of mental frames or heuristics to solve various economic challenges. Specifically, using Herbert Simon’s notion of bounded rationality, Lo (2004) pointed out that the presence and persistence of behavioural biases can be best understood when we appreciate the fact that cooperation, competition, market-making behaviour, general equilibrium, and disequilibrium dynamics are all adaptations designed to address certain environment challenges for the huma n species and then view these forces from the lens of evolutionary biology. Besides, Lo posits that fear and greed – which behaviourists often cite as a basis for irrational decision making are the products of evolutionary forces and adaptive behaviours that enhance the odds of survival. In this situation, emotions may be seen as an incentive system that determines investors’ behaviour and prompt them to engage in a cost-benefit analysis of various investment plans available to them. Consequently, there are no fixed rules for evaluating trading strategies as depending on market conditions, investors can engage in trade; truncate it at various points and observe the consequences of their actions. For example, where investors are timely in their investment decisions, they come back and dominate the market; if on the other hand, they are poor in market timing, they are easily eased out of the market. Hence, according to Lo supposition, market efficiency can-not be appraised in a vacuum, because is extremely context dependent and dynamic, thus resu lting in a cycle of a mental frame selection process in which investors grow, mutate and thrive or face extinction (Lo, 2004). Moreover, under the AMH, market strategies evolve to adapt to an ever changing market environment, and is driven by profit opportunities, which according to Lo, is the main source on which market participants depend for their survival. One other main aspect of behavioural finance which the AMH shed light on is the existence of arbitrage opportunities. According to Lo, arbitrage opportunities appear and disappear due to adaptive responses to a changing market environment. In this fashion, investors adapt to match new economic challenges, by developing new heuristics that are necessary to evaluating any investment strategy and which in turn depends upon its survival value. Although profitability and risk reduction values are also important factors to consider, Lo pointed out that these factors come after investors have undergone this fundamental market test. So what are the implications of the AMH for efficient markets and behavioural finance? Lo (2004) briefly outlines these implications to include that The equity risk premium are non-constant over time, but changes according to the recent path of the stock market. Risk/reward relations are nonlinear and non-stable. Arbitrage opportunities exist from time to time Investment strategy, waxes and then wane depending on the environment Adaptation and innovation are keys to survival Survival is the only objective that matters. 3.0AMH or EMH? An evaluation Fama (1998) emphasize that any alternative model to market efficiency ought to follow standard scientific rule, and should itself be potentially rejectable by empirical tests. Thus, in evaluating the relationship between AMH and behavioural finance, it is essential to consider an empirical test of how AMH differ significantly from the efficient market hypothesis (EMH), which the behaviourists seek to discard. While various tests of market efficiency had been designed over the years using standard financial models in EMH, tests of AMH are relatively few given that the hypothesis has yet to become part of the mainstream of financial economics. However, an increasing number of studies had reported results which seems consistent with the AMH. Some of these studies include Neely, et al (2009) and Kim, et al (2011). Whereas Neely, et al (2009) found some regularities in profit opportunities that appear and disappears in a foreign exchange market, Kim, et al (2011) found strong evidence tha t return predictability is driven by changing market conditions. These findings implied that testable implications of AMH can be done by testing how the level of efficiency in a market varies significantly over time. Furthermore, another possible way to conceptualise a test of the AMH may be to investigate whether investment decisions are made based on selectivity and market timing since evolutionary principle implied that natural selection shapes market ecology. In this context, Hoffman, et al (2013) found some evidence of market learning during the financial crisis. As a matter of fact, conventional econometric tests for market efficiency using formal asset pricing models such as Sharpe 1964 CAPM and Merton’s 1973 discrete time version of ICAPM would have been relevant alternative models to investigate these testable implications of AMH. Therefore, rather than see Lo’s AMH as a behavioural alternative to market efficiency, it is better regarded as another strand of efficient market hypothesis. 4.0Conclusion This essay has discussed the adaptive market hypothesis and examined its relationship with behavioural finance. We conclude that whereas the AMH offers a philosophical foundation for analysing various behavioural anomalies described by behavioural finance, its theoretical underpinning however, reflects that of the efficient market hypothesis. References Benartzi, S., and Thaler, R., (1995), â€Å"Myopic loss aversion and the equity premium puzzle†, Quarterly Journal of Economics, vol. 110: 73-92. Bernard, V., and Thomas, J., (1990), â€Å"Evidence that stock prices do not fully reflect the implications of current earnings for future earnings†, Journal of Accounting and Economics, vol. 13: 305-340. Fama, E., (1970), â€Å"Efficient Capital Markets: A Review of Theory and Empirical Work†, Journal of Finance, vol. 25(2): 383–417. Fama, E., (1998), â€Å"Market efficiency, long-term returns, and behavioral finance, Journal of Financial Economics, vol. 49(3): 283-306. Hoffman, A.I., Thomas, P., and Joost, M.E., (2013), â€Å"Individual investor perceptions and behaviour during the financial crisis†, Journal of Banking and Finance, vol. 37(1): 60-74 Kahneman, D., and Tversky, A., (1979), â€Å"Prospect theory: An analysis of decision under risk†, Econometrica, vol. 47: 263–291. Kim, J., Lim, K., and Shamsuddin, A., (2009), â€Å"Stock return predictability and adaptive markets hypothesis: Evidence from century-long U.S. data†, Unpublished. Lo, A., (2004), â€Å"The Adaptive Markets Hypothesis: Market Efficiency from an Evolutionary Perspective†, Journal of Portfolio Management, 30th Anniversary Issue; 15-29 Lo, A., (2005), â€Å"Reconciling efficient markets with behavioural finance: the adaptive markets hypothesis†, Journal of Investment Consulting, vol. 7(2): 21-44. Mehra, R., and Prescott, E., (2008), â€Å"The equity premium: ABC’s Handbook of the Equity Risk- Premium†, North Holland, Amsterdam: The Netherlands. Merton, R., (1973), â€Å"An intertemporal capital asset pricing model†, Econometrica, vol. 41: 867–887 Neely, C., Weller, P., and Ulrich, J., (2009), â€Å"The Adaptive Markets Hypothesis: Evidence from the Foreign Exchange Market† Journal of Financial and Quantitative Analysis, vol. 44(2): 467-488. Sharpe, W., (1964), â€Å"Capital asset prices: a theory of market equilibrium under conditions of risk†, Journal of Finance, vol. 19(3): 425-442