Gains from trade using supply and demand analysis :: essays research papers

The diagram shows Japan can produce camcorders at dismantle costs - its supply curve is overturn than the UK. This means that Japan has a comparative advantage in producing camcorders. In the absence of planetary trade betwixt the two countries, British consumers would have to buy at a high equilibrium price than Japanese consumers. Since Japan is more efficient, it makes sense for Japan to specialise in production of camcorders and export their excess output to the UK at a lower free trade price. At the intermediate price shown in the diagram, (the free trade price) Japan sells exports to the UK for a higher price but this is still lower than the UK equilibrium price. Japan receives revenue from the sale of these exports. UK consumers can now buy more camcorders at a lower price and have more choice in the market We are ignoring transportation costs between the two countries and we are assuming that the resources that were previously allocated to producing camcorders in the UK can be reallocated to other industries (i.e. resources are assumed to be occupationally mobile). Free trade, interchange of commodities across political frontiers without restrictions such as tariffs, quotas, or foreign substitute controls. This economic policy contrasts with protectionist policies that use such restrictions to protect or stimulate domestic industries. In this article I will discuss the positive and cast out effects of free trade. Trade can lead to an improvement in overall economic welfare if countries specialize in the products in which they have a production advantage. Trade allows businesses to exploit economies of scale by operating in international markets. International competition stimulates higher efficiency and reduces monopoly power. Trade enhances consumer choice and international competition between suppliers helps to keep prices down. Trade in ideas stimulates product and process innovations that generates better products for consumers and enhance s the overall standard of living.Negative effectsWithin countries, the gap between rich and poor has also generally increased. In the United States wealthier mess tend to receive more income from owning shares of companies, while poor and middle income people conk most of their income from wages and salaries. If a company makes more profits by moving its production offshore, those who own its shares will see their incomes rise while those people who lost their jobs will see their income fall. So as the trade deficit has increased, the rich have gotten richer and the poor have gotten poorer.

Microscope Lab Report Essay -- Microscopes

research lab Work Not IncludedThe purpose for completing this lab was to observe how microscopes function. The invention & evolution of the microscope has been an ongoing process since the centre of attention Ages, when the first convex magnifying lenses were introduced. In 1590, the Jansen Brothers invented the first compound microscope (two or more lenses).However, Antony van Leevenwenhoek created the first true microscope, in 1665, with 300x hyperbole & unbelievable resolution. During the late 1700s, the microscope was reinvented with 1500x magnification. The approximately recent advancement in microscopes is the electron microscope, which was invented in 1930. This particular model uses an electron beam, instead of light & 4,000,000x magnifications with incredible resolution. in that respect ar many unalike parts of a microscope and each one has its own unique purpose. The compound microscope has 13 main parts. The base & arm are used to carry the microscope. The lamp or m irror is the source of light, the body tube lets light through, & the diaphragm controls the amount of light. There are also three dif... Microscope Lab Report Essay -- MicroscopesLab Work Not IncludedThe purpose for completing this lab was to observe how microscopes function. The invention & evolution of the microscope has been an ongoing process since the Middle Ages, when the first convex magnifying lenses were introduced. In 1590, the Jansen Brothers invented the first compound microscope (two or more lenses).However, Antony van Leevenwenhoek created the first true microscope, in 1665, with 300x magnification & unbelievable resolution. During the late 1700s, the microscope was reinvented with 1500x magnification. The most recent advancement in microscopes is the electron microscope, which was invented in 1930. This particular model uses an electron beam, instead of light & 4,000,000x magnifications with incredible resolution.There are many different parts of a mi croscope and each one has its own unique purpose. The compound microscope has 13 main parts. The base & arm are used to carry the microscope. The lamp or mirror is the source of light, the body tube lets light through, & the diaphragm controls the amount of light. There are also three dif...

Beloved :: essays research papers

Toni Morrisons Beloved is set in rural Cincinnati, Ohio, in 1873. The novel is centered on a fair sex named Sethe, who is the stimulate of four children, and an escapee from slavery in a Kentucky plantation 18 years ago. She lives with her daughter, Denver in a shabby house at 124 Bluestone, that they helping with the wraith of a dead baby, which haunts Sethe by reminding her of past tragedies. Paul D, Sethes new lover and a former Kentucky slave man whom Sethe takes in, helps shed light in Sethes worrying life. Also arriving at the doorstep is a mysterious, ill young woman who calls herself Beloved. Gradually, Beloved penetrates the lives of all who live in the haunted house, forcing Sethe to confront her nightmarish memories. Morrisons have scene in chapter 27 of when the thirty participation women congregate in front of 124 Bluestone to battle the ghost haunting the house, is carefully constructed to contribute to the base of better and structure of the work. As Denver is awaiting transportation for her first day on the job as Bodwins evening nurse, thirty neighborhood women pray and verbalize at the edge of the yard after hearing speculations from that the ghost of Sethes dead daughter is ca development the family to deteriorate. Sethe and Beloved intrigued by the music move to the porch. "Sethe was breaking a puffiness of meth into chunks.When the music entered the window she was wringing a cool cloth to put on Beloveds forehead.Sethe and she exchanged glances and started toward the window" (Morrison 261). As the Bodwin approaches in a drag with his horses to plectrum up Denver, Sethe is triggered by a flashback of when the schoolteacher and the slave catcher came to get her children 18 years ago. Racing towards the cart, Sethe releases the hand of Beloved and runs toward to crowd using the ice pick as an attachment of her hand to protect her Beloved. "He is coming into her yard and he is coming for her best thing..And if she th inks anything, it is no" (Morrison 262). The thirty community women whom Sethe was hurry toward stop her and Beloved neglected on the porch by herself disappears. "Sethe is running away from her, running, and she feels the emptiness in the hand Sethe has been holding. Now she is running into the faces of the people come on there, joining them and leaving Beloved behind.Beloved essays research papers Toni Morrisons Beloved is set in rural Cincinnati, Ohio, in 1873. The novel is centered on a woman named Sethe, who is the mother of four children, and an escapee from slavery in a Kentucky plantation 18 years ago. She lives with her daughter, Denver in a shabby house at 124 Bluestone, that they share with the ghost of a dead baby, which haunts Sethe by reminding her of past tragedies. Paul D, Sethes new lover and a former Kentucky slave man whom Sethe takes in, helps shed light in Sethes sad life. Also arriving at the doorstep is a mysterious, ill young woman who calls her self Beloved. Gradually, Beloved penetrates the lives of all who live in the haunted house, forcing Sethe to confront her nightmarish memories. Morrisons compelling scene in chapter 27 of when the thirty community women congregate in front of 124 Bluestone to battle the ghost haunting the house, is carefully constructed to contribute to the theme of healing and structure of the work. As Denver is awaiting transportation for her first day on the job as Bodwins evening nurse, thirty neighborhood women pray and sing at the edge of the yard after hearing speculations from that the ghost of Sethes dead daughter is causing the family to deteriorate. Sethe and Beloved intrigued by the music move to the porch. "Sethe was breaking a lump of ice into chunks.When the music entered the window she was wringing a cool cloth to put on Beloveds forehead.Sethe and she exchanged glances and started toward the window" (Morrison 261). As the Bodwin approaches in a cart with his horses to pick u p Denver, Sethe is triggered by a flashback of when the schoolteacher and the slave catcher came to get her children 18 years ago. Racing towards the cart, Sethe releases the hand of Beloved and runs toward to crowd using the ice pick as an attachment of her hand to protect her Beloved. "He is coming into her yard and he is coming for her best thing..And if she thinks anything, it is no" (Morrison 262). The thirty community women whom Sethe was running toward stop her and Beloved neglected on the porch by herself disappears. "Sethe is running away from her, running, and she feels the emptiness in the hand Sethe has been holding. Now she is running into the faces of the people out there, joining them and leaving Beloved behind.

The Women of Shirley Jackson :: Biography Biographies Essays

The Women of Shirley capital of Mississippi Throughout her life, Shirley Jackson refused to fit into societys limited concept of a womans role. Her whole caboodle feature female protagonists who be punished for seeking a more substantial existence than that of the traditional wife or mother. In most cases, these characters are condemned as witches, ostracized by society, and even killed for their refusal to conform. From her youth, Jackson was an outsider. Always self-conscious about her obesity and plain appearance, she preferred spending time alone in her dwell writing poetry to socializing with other children (Oppenheimer 16). As an adult, she struggled to fulfill her role as a mother without sacrificing her career as a writer. Kathleen Warnock writes Jackson served as drive for her children and hostess for her husbands university colleagues at Bennington College where he was a professor. . . . But she also set aside time each day for her writing. There was always the s ound of typing, her children wrote, power hammer away into the night (10). Jacksons husband, writer and literary critic Stanley Edgar Hyman, felt threatened by her talent and tried to discourage her by preoccupying her with housework. This, however, only made Jackson more determined. Her writing became a form of rebellion against her husband (who was allegedly unfaithful) and, ultimately, against a male-dominated society. This element of rebellion in Jacksons works led to its poor receipt by contemporary critics and readers alike. According to mythologian Barbara G. Walker, Any unusual ability in a woman instantly raises a charge of witchcraft (1078). In the make full of mail that followed the publication of The Lottery, Jackson was labeled un-American, perverted, and modern (Sullivan 71). Rumors of supernatural events concerning Jackson began to circulate. According to David Gates, Jackson was widely believed to have broken the leg of publisher Alfred Knopf by sticking pi ns into a voodoo doll (67). Bennington College student Elizabeth Frank recalls a rumor that. . . Jackson had turned a certain male faculty member into a pumpkin (6). Jacksons extensive library of witchcraft as well as the mystique that arose from her agoraphobic tendencies added to this characterization. Her house became a cave, her small social circle a coven, and her some cats familiars. In the words of Jack Sullivan, Jacksons real witchcraft is her fiction (71).

Evolution & Creationism in Education Essay examples -- Teaching God Cr

ontogenesis & Creationism in educationThe twentieth century has witnessed the escalation of the humanity - growth debate by famous court cases and Supreme judicatory finalitys on the teaching of evolution in public schools, culminating most recently in a Kansas Board of Education decision. As this highly contr oversial anesthetise of the teaching of evolution in American classrooms rages on, it may be difficult for virtually individuals of Christian faith to variance an alternative belief other than the extremes of creationism and evolutionism. out front discussing this issue any further, when I refer to strict beliefs in creationism or evolution as extreme views I am not necessarily implying that they be wrong, but are simply two views on completely opposite sides of the creation - evolution debate spectrum. For some creationists, accepting god as origin as told in the Book of Genesis means the simultaneous rejection of evolutionary conjecture. For some evolution beli evers, accepting evolution ultimately results in the replacement of God as Creator with the process of evolution.After reading the preceding two sentences, we can come to the conclusion that the creation - evolution debate is really a matter of faith, either there is a Creator or there is no Creator. However, at the same cadence the main battle of the debate is over what is taught in our public schools. This creates a problem, particularly for creationists, because separation of church and state keeps religious criticism to evolutionary theory away from the classroom. The Kansas Board of Education decision to eliminate evolution and the Big Bang Theory from statewide tests reflects the resulting pressure on school officials to chose between what galore(postnominal) have come to view as two mutu... ...l Bible Society.Johnson, P. E. (1999). The Church of Darwin. Human Events, 55(32), 16.Lane, C. (1999). Devolution. New Republic, 221(11/12), 6.Marcus, D. L. (1999, August). Charles D arwin gets thrown out of school A Kansas ban on the mention of evolution. U. S. News & World Report, 127, 32.Merriam Websters collegial dictionary (10th ed.). (1995). Springfield, MA Merriam-Webster, Inc.Miller, L. R. (1997). Must Christians chose between evolution and creationism? http//www.goshen.edu/bio/Biol410/Biol410SrSemPapers97/millerl.html (1999, November 1).The Scopes monkey trial. http//www.dimensional.com/randl/scopes.htm (1999, November 1).Wright, R. T. (1989). Biology Through the eyes of faith. New York, NY HarperSanFrancisco.Zimmerman, J. (1999). relatively speaking Creationisms political evolution. New Republic, 221(10), 13-14. Evolution & Creationism in Education Essay examples -- Teaching God CrEvolution & Creationism in EducationThe twentieth century has witnessed the escalation of the creation - evolution debate through famous court cases and Supreme Court decisions on the teaching of evolution in public schools, culminating most recently in a Ka nsas Board of Education decision. As this highly controversial issue of the teaching of evolution in American classrooms rages on, it may be difficult for some individuals of Christian faith to form an alternative belief other than the extremes of creationism and evolutionism. Before discussing this issue any further, when I refer to strict beliefs in creationism or evolution as extreme views I am not necessarily implying that they are wrong, but are simply two views on completely opposite sides of the creation - evolution debate spectrum. For some creationists, accepting God as Creator as told in the Book of Genesis means the simultaneous rejection of evolutionary theory. For some evolution believers, accepting evolution ultimately results in the replacement of God as Creator with the process of evolution.After reading the preceding two sentences, we can come to the conclusion that the creation - evolution debate is really a matter of faith, either there is a Creator or there is no Creator. However, at the same time the main battle of the debate is over what is taught in our public schools. This creates a problem, particularly for creationists, because separation of church and state keeps religious criticism to evolutionary theory away from the classroom. The Kansas Board of Education decision to eliminate evolution and the Big Bang Theory from statewide tests reflects the resulting pressure on school officials to chose between what many have come to view as two mutu... ...l Bible Society.Johnson, P. E. (1999). The Church of Darwin. Human Events, 55(32), 16.Lane, C. (1999). Devolution. New Republic, 221(11/12), 6.Marcus, D. L. (1999, August). Charles Darwin gets thrown out of school A Kansas ban on the mention of evolution. U. S. News & World Report, 127, 32.Merriam Websters collegiate dictionary (10th ed.). (1995). Springfield, MA Merriam-Webster, Inc.Miller, L. R. (1997). Must Christians chose between evolution and creationism? http//www.goshen.edu/bio/Bio l410/Biol410SrSemPapers97/millerl.html (1999, November 1).The Scopes monkey trial. http//www.dimensional.com/randl/scopes.htm (1999, November 1).Wright, R. T. (1989). Biology Through the eyes of faith. New York, NY HarperSanFrancisco.Zimmerman, J. (1999). Relatively speaking Creationisms political evolution. New Republic, 221(10), 13-14.

Evolution & Creationism in Education Essay examples -- Teaching God Cr

Evolution & Creationism in EducationThe twentieth century has witnessed the escalation of the humanity - ontogenesis debate through noted court cases and Supreme Court decisions on the teaching of evolution in public naturalizes, culminating most recently in a Kansas Board of Education decision. As this highly controversial issue of the teaching of evolution in Ameri shadow classrooms rages on, it may be difficult for most individuals of Christian faith to form an election belief other than the extremes of entryism and evolutionism. Before discussing this issue any further, when I refer to strict beliefs in creationism or evolution as extreme views I am not necessarily implying that they are wrong, but are simply two views on completely opposite sides of the creation - evolution debate spectrum. For some creationists, accept God as Creator as told in the Book of Genesis means the simultaneous rejection of evolutionary theory. For some evolution believers, accepting evolution at long last results in the replacement of God as Creator with the process of evolution.After reading the preceding two sentences, we can come to the conclusion that the creation - evolution debate is really a matter of faith, either there is a Creator or there is no Creator. However, at the same time the primary(prenominal) battle of the debate is over what is taught in our public schools. This creates a problem, particularly for creationists, because separation of church and state keeps religious criticism to evolutionary theory out from the classroom. The Kansas Board of Education decision to eliminate evolution and the Big Bang Theory from statewide tests reflects the resulting pressure on school officials to chose between what many pack come to view as two mutu... ...l Bible Society.Johnson, P. E. (1999). The Church of Darwin. Human Events, 55(32), 16.Lane, C. (1999). Devolution. New Republic, 221(11/12), 6.Marcus, D. L. (1999, August). Charles Darwin gets thrown out of s chool A Kansas ban on the signify of evolution. U. S. News & World Report, 127, 32.Merriam Websters collegiate dictionary (10th ed.). (1995). Springfield, MA Merriam-Webster, Inc.Miller, L. R. (1997). Must Christians chose between evolution and creationism? http//www.goshen.edu/bio/Biol410/Biol410SrSemPapers97/millerl.html (1999, November 1).The Scopes monkey trial. http//www.dimensional.com/randl/scopes.htm (1999, November 1).Wright, R. T. (1989). Biology by means of the eyes of faith. New York, NY HarperSanFrancisco.Zimmerman, J. (1999). Relatively mouth Creationisms political evolution. New Republic, 221(10), 13-14. Evolution & Creationism in Education Essay examples -- Teaching God CrEvolution & Creationism in EducationThe twentieth century has witnessed the escalation of the creation - evolution debate through famous court cases and Supreme Court decisions on the teaching of evolution in public schools, culminating most recently in a Kansas Board of Educatio n decision. As this highly controversial issue of the teaching of evolution in American classrooms rages on, it may be difficult for some individuals of Christian faith to form an alternative belief other than the extremes of creationism and evolutionism. Before discussing this issue any further, when I refer to strict beliefs in creationism or evolution as extreme views I am not necessarily implying that they are wrong, but are simply two views on completely opposite sides of the creation - evolution debate spectrum. For some creationists, accepting God as Creator as told in the Book of Genesis means the simultaneous rejection of evolutionary theory. For some evolution believers, accepting evolution ultimately results in the replacement of God as Creator with the process of evolution.After reading the preceding two sentences, we can come to the conclusion that the creation - evolution debate is really a matter of faith, either there is a Creator or there is no Creator. However, at the same time the main battle of the debate is over what is taught in our public schools. This creates a problem, particularly for creationists, because separation of church and state keeps religious criticism to evolutionary theory away from the classroom. The Kansas Board of Education decision to eliminate evolution and the Big Bang Theory from statewide tests reflects the resulting pressure on school officials to chose between what many have come to view as two mutu... ...l Bible Society.Johnson, P. E. (1999). The Church of Darwin. Human Events, 55(32), 16.Lane, C. (1999). Devolution. New Republic, 221(11/12), 6.Marcus, D. L. (1999, August). Charles Darwin gets thrown out of school A Kansas ban on the mention of evolution. U. S. News & World Report, 127, 32.Merriam Websters collegiate dictionary (10th ed.). (1995). Springfield, MA Merriam-Webster, Inc.Miller, L. R. (1997). Must Christians chose between evolution and creationism? http//www.goshen.edu/bio/Biol410/Biol410SrSemPaper s97/millerl.html (1999, November 1).The Scopes monkey trial. http//www.dimensional.com/randl/scopes.htm (1999, November 1).Wright, R. T. (1989). Biology Through the eyes of faith. New York, NY HarperSanFrancisco.Zimmerman, J. (1999). Relatively speaking Creationisms political evolution. New Republic, 221(10), 13-14.

American poet Jack Kerouac Essay

American poet Jack Kerouac has been classified as the originator of the Beat Generation. He is known for his intuitive confessional style, as well as his connection to Buddhism, Allen Ginsberg, and American self actualization. His rejection of mainstream 1950s society is his trademark, and the affectionateness ideal behind the beat-nick culture he helped spawn. Jack Kerouac was born(p) Jean-Louis Lebris de Kerouac, to French-Canadian parents, in Lowell, Massachusetts. Kerouac was raised fluent in French, and didnt start learning English until he was six years old.While attending Boston College and capital of South Carolina University, he demonstrated extraordinary athletic ability in the game of football, until he broke his leg. After losing his football scholarship, Keroauc moved to New York. There he met the makeup of the group that would later be known as The Beat Generation poets. This group consisted of John Clellon Holmes, Allen Ginsberg, Neal Cassady, William S. Burroughs a nd Herbert Huncke. He left the company of these men to tie the United States Navy in 1943, from which he was discharged during WWII, for the psychiatric measure of having an indifferent disposition.This is suspected by many to be the spark that inspired him to indite his first work The Town and City, as well as On The Road. Many of Kerouacs works were often rejected upon first submission to publishers. He was often overlooked, due to his experimental style, and socially conscious views. Not to forget, his excessive tendency towards drinking. This obsession with alcoholism is eventually the perk up of his death in 1969, when he dies of internal hemorrhaging due to cirrhosis. Jack Kerouac has a very distinct and original style.Upon first evaluation of his style, his work might be deemed as cliche, or meretricious self loathing libation but it must be remembered that, Kerouac was one of the first to adopt his free flowing form of poetry. He is also noted for connecting his poetry to the beat-nick poets. Kerouac is almost commonly referred to as the King of the Beats and the Father of the Hippies. This is largely due with the fact that his poetry is most immediately inspired by hint music, specifically bebop by Thelonius Monk, Dizzy Gillespie, and Charlie Parker. He compiled this Jazz influence with a love of Buddhist studies, specifically Gary Snyder.The name he dubbed his new nominate form is unbidden Prose. It is often compared to the literary technique known as stream of consciousness, which is often deemed as a literary mirror of a sources thought process. While writing, Kerouac took the first thought or line that came to his mind and went with it. This technique is most recognizable in his novels Visions of Cody, Big Sur, Visions of Gerard, On the Road, and The Subterraneans. The core concept this method revolved around is a breathing technique very similar to that of Jazz, or Buddhist meditation. It is most evidently represented by a dash mark in place of a period.The practice of improvising words based on implied or inherently inferred meanings was another aspect of Spontaneous Prose. . The core concept this method revolved around is a breathing technique very similar to that of Jazz, or Buddhist meditation. In his statement on Belief & Technique For Modern Prose, in his top five pieces of advice Kerouac says, 1. Scribble secret notebooks, and wild typewritten pages, for yr own joy 2. Submissive to everything, open, listening 3. travail never get drunk outside yr own house 4. Be in love with yr life 5. Something that you feel will lift its own form (Kerouac)This is more the literary technique of an experimental thinker than actual literary scholar, or poet, during this era. Despite this, his style later becomes the format taught to most contemporary writers aspiring to be professional. Kerouac never really edited his poetry. In fact, the majority of his work was edited by fellow Beat Generation induct Donald Merriam Alle n, who also served as an editor for Ginsberg. Acclaimed photographer Robert Frank made a short film personifying many Beat ideals called Pull My Daisy, in which Kerouac is scene edition his work in the films opening. The film itself is also based a play written by Kerouac.The Beat Generation is an uprising that formed mostly on some of Americas best-known college campuses in the mid to late 50s. It influenced students in the early 60s to seek hard hitting answers to some of the complex questions posed to their generation. Addressing ideas like the coexistence of wealth and poverty, along side with racial prejudice resulted in the beat-nicks forming what would be considered the American New Left. An example of this is the Students for a Democratic Society (SDS) which founded at the University of Michigan in 1960, it became one of the key organizations formed in reaction to Beat ideals.The core belief of this student consistence was that Americans should practice direct democracy a s apposed to representative democracy. This stemmed largely from the strict nature of Universities during that time in which students felt they were just numbers in a system dictating their existence. These students were also known for being supporters of the Black Power movement. These groups are also historic for being the most visible resource for ontogeny protests against the Vietnam War.This New Left was the child that the Beat Generation gave birth to, and its influence on American culture can be credited for many of the sociological changes in our society today. Jack Kerouac, along with the rest of the beat-nick poets, can be credited as well. They were the flame that sparked this generational chain reaction. In sum, when I see Kerouacs work, I cant help but notice that many ways his style has been adopted by American culture. The ideal of the productive minded young artist bathing in libation and pondering death and social inadequacies is the main image adopted by the maj ority of Rock n Roll groups today.The majority of these bands probably dont even know of Jack Kerouac. Im not saying he was the first poet, or artist, to get drunk and create but, I do acknowledge the ability of his free will to inspire so many others around him to create the cause to social change. He is pioneer and a leader, because he is fallowed beyond the grave.Work CitedAnderson, James C. Robert Frank. Microsoft Encarta 2006 CD. Redmond, WA Microsoft Corporation, 2005. Jack Kerouac. Wikipedia, The Free Encyclopedia. 30 Jan 2007, 2203 UTC. Wikimedia Foundation, Inc. 2 Feb 2007 http//en.wikipedia.org/w/index.php?title=Jack_Kerouac&oldid=104426491

Evolution of thoughts in Scientific Management Essay

At the first stage where groups of people were insignificant, management in all spheres was carried out by integrity person the leader of this group. Further, in process of group growth and complication of functions carried out by them, the necessity of labour division and group differentiation has appe atomic number 18d. scarce it couldnt happen at once, it needed centuries.The Egyptian pyramids build in 3000 2000 B.C. argon a good example not only ancient Egyptians culture, but also their administrative art. Construction of huge pyramids demanded,first of all, precise planning.While the practice of management can be traced back to 3000 B.C., it was not assumption serious attention until 1800 when large organisations emerged.Industrial revolution has given a push to development of theoretical researches and management practices.However, till an epoch of capitalism function of management was carried out by the owner himself and a small group of the persons set abouted to him. The role of the specially trained four-in-hands developed during an epoch of monocapitalism. Having been faced with a competition, changeable environment, managers developed knowledge system of how it is better to use resources.During all history of management development we distinguish two approaches classical and modern.Classical approach allows to allocate four patterns of management thought1898 scientific management1916 Administrative management1920 Bureaucracy1927 Human relationsSCIENTIFIC MANAGEMENTOccurrence of scientific management takes place at the beginning of 20th century and is connected to F.W.Taylors name, Henri L.Gantt, Frank and Lilian Gilbreth.Scientific management focuses on failer and machine relationship. Organisational productiveness can be increased by increasing the efficiency of production process.In 1911, Frederick Taylor, known as the Father of scientific management, published Principles of Scientific direction in which he proposed to designwork metho ds to increase productivity. One of his famous experiments was seted at Bethlehem Steel Company in Pittsburgh. He examined the time and front ends, developed a better method for per hurling that job and trained the worker. In addition, Taylor offered a piece rate that increased as workers produced more.Taylors studies were followed by Gibreths, a economize and a wife, who also helped to find more efficient ways for workers to produce output. Frank Gilbreth made his contribution in the field of brick lying by ever-changing an 18 step process into 5 step that led to increased productivity by about 200 percent.The Gibreths trustd that were was one best way to per pull in an operation. However this one best way could be replaced when a better way was introduced.Other representative of Scientific direction was Henri Gantt. He developed a Gantt chart, which is used for scheduling multiple task over a time period. He developed a pay system with a guaranteed minimum wage and bonus sys tems for people on fixed wages and brought in a significant contribution to the leadership theory development.ADMINISTRATIVE MANAGEMENTUnlike Scientific Management which focused its attention on productivity, Administrative Management realize engaged in development of management in the organisation as a whole and was concerned about administrative part of the organisation.The ancestor of this school was Henri Fayol.He worked as a mining engineer and came to realise that managing an enterprise required a lots of skills apart from technical ones.Henri Fayol was the first to identify the four management functionsPlanningOrganisingLeadingControllingHe also developed guidelines for managers to follow. These guidelines form fourteen principles for effective management.Other contributor to Administrative Management was Mary Parker Follet.She pointed out that all managers want flexibility, and she also distinguished betwixt the motivation of individuals and groups.bureaucratismMax Weber, known as a father of Modern Sociology, concentrated on how to structure an organisation for success. Weber outlined key elements of an ideal form of structure, which he studyd would develop efficiency and called it bureaucracy.The bureaucratic structure had a number of important advantages for large organisations.The division of labour increased efficiently due to the go along repetition of the task.Hierarchy allowed developing a chain of command.Format selection meant that employees were hired on knowledge and experience and no otherwise criteria would be used. career orientation ensured that career professionals would give the organisation a degree of continuity in operations.Rules and procedures checkerled employee performance.The impersonality of the organisation ensured that rules were applied across the board without personality or other influence getting in the way.HUMAN RELATIONSDuring the 1920s, an emphasis on the human side of the workplace began to influence managemen t thinking. They started to realise that people are social and self-actualising.People at work are seemed to seek satisfying social relationships, respond to group pressures, and search for personal fulfilment.The human relations movement began with the Hawthorne Studies that were conducted at the Western Electric Company in Cicero 1924 -1933.The intention of these studies was to determine the effect of working conditions on productivity. The illumination experiments tried to determine whether better lightness would lead to increased productivity. Both the control group and the experimental group of female employees produced more whether the lights were turned up or down.It was discovered that this increased productivity was a top of the attention received by the group.In the relay assembly group experiments, six female employees worked in a special, separate area. They were given breaks and had the freedom to talk and were continuously observed by a researcher who served as the s upervisor. Once again researches failed to find any direct relationship between changes in physical working conditions and output. Productivity increased regardless of the changes made.Two factors were set up as having special importance.One was the group atmosphere the workers divided up pleasant social relations with one another and wanted to do a good job.The other was more participative supervision. The workers were made to feel important, were given a lot of information, and were frequently asked for their opinions. It was not the case in their regular jobs.The final Hawthorne Study was conducted in the bank wiring room and centred on the role of the work group. A surprise finding here was that people would restrict their output in order to avoid the displeasure of the group.It was recognised that group can bemuse strong negative, as well as positive influences on individual productivity.Two writers who helped advance the human relation movement were Abraham Maslow and Douglas McGregor.In 1943, Maslow advanced a theory suggesting that people are make a motiond by a hierarchy of needfully. Which are physiological, resort, social, esteem and self-actualisation needs. People try to satisfy the five needs in sequence. They progress step by step from the lowest up to the highest.Meanwhile Douglas McGregor represents Theory X and Theory Y.According to McGregor, managers holding Theory X believe that those who work for them generally dislike work, lack ambitions, are irresponsible and prefer to be led rather than to lead.While in the Theory Y managers believe that people willing to work are capable of self-control, are willing to accept responsibility, are imaginative and creative.CONCLUSIONSScientific ManagementAnalysis of the past allows a better understanding of the present to predict the futureScientific Management improved peoples productivity at work by cut number of motions choosing one best way to perform the task.However, Scientific Management was not without its critics.Taylor assumed that people were motivated only by money and handle social and psychological factors. Also, Scientific Management techniques often resulted in lay-offs and it led to job losses.Relationship between the organisation and environment wasnt taken to attention. disdain these criticisms, we use some of scientific techniques nowadays.For instance, on factory that produces mobile phones, the whole production mechanism is broken down to small tasks. The workers are guided by carefully calculated standards. They know how many details they should approximately produce per hour. Each movement is chosen carefully in order to reduce pleonastic motions.I have been working in a hotel industry for three years. The scientific management techniques have been used in my department as well. To drop checking in and out more efficient everyone had his or her own best way of performing the task.Administrative Management.Nowadays Faylols five main functions gained widespread recognition.Lets take a hotel, for instance. Managers have to make plans for the future, organise short-term plans, co-ordinate recourses and finances, and control plans get their goals.In the Royal Bayswater Hotel, where I worked, managers aim was to get a Service Excellence Award. They planed to increase service by training the staff paying more attention to upcountry customers because happy staff is happy customers and by trying to exceed customers expectations.During all this process managers were controlling if everything was following the plans.And as a result to everybodys effort the hotel has been awarded with Best Excellence Service AwardBureaucracyWhile the term Bureaucracy has a negative meaning some of its elements are still relevant.In the earlier mentioned hotel, for example, staff is selected and promoted on ability to perform the task. Workers are career orientated. In order to obtain the organisational objectives procedures are measured and performed ma tch to the organisational rules and standards. Standards and rules applied without personal influence.Human RelationsUntil the late 20th human relationship hasnt been taken to serious consideration. It has only beenafter Hawthorne Experiments, the improvement of relations between all levels has been accepted as a very important element in the development and improvement of any organisation . This is still have a great importancenowadays.The job of the manager in the workplace is to get things done through employees. To do this the manager should be able to encourage, teach, control, motivate and lead people. But that easier said than done.At my place of work there were different people with different needs. While some of them were satisfied with physiological and safety needs, the others there seeking for recognition from others, self-control and actualisation. So managers couldnt expect a good performance at work if an individuals needs havent been satisfied.We also had two types o f managers.1 Those who followed Theory X assumption2 Those who followed Theory Y assumptionAs for me it was more rugged to work who doesnt give you much freedom for your thoughts, and things that supervision is a necessity.On the other hand, it was a pleasure to work with someone who allows more flexibility, and thinks that control and punishment are not the only ways to make people work. As a result they got more commitment to the organisation.LIST OF REFERENCES1 ManagementStephen P. Robbinsons, Mary Coulter, 7 adaptation2 Management John R. Schermerhorn, JR. 8 edition3 Management John R. Schermerhorn, JR. 7 edition4Management Ricky W. Griffin 7 edition5 Modern Management Siobhan D. Tiernan, Michael J. Morley, Edel Foleywww.sfsu.edu/erich/slides2/-5kwww.ee.uwa.edu.au/ccroft/em333/leca02.html-12kwww.evolutionevent.co.uk/-2k

Oligopoly and Match Price

After reading this chapter, you should know 1. The unique characteristics of oligopoly. 2. How oligopolies maximize profits. 3. How interdependence affects oligopolists pricing decisions. Problems for Chapter 10 1. Suppose the automobile market in the U. S. is divided as follows General Motors28% Ford23% Toyota18% Daimler-Chrysler16% All other(a)s15% a) What is the four firm concentration ratio? b) What is the approximate Herfindahl-Hirschman Index? 2.Assume an oligopolist confronts two possible demand curves for its own output, as illustrated below. The first (A) prevails if other oligopolists dont run across equipment casualty changes. The second (B) prevails if rivals do match price changes. Price ($) $10 9 8 7 6 5 4Demand A 3 2 1Demand B 02468101214 Quantity (units per period) a) By how much does quantity demanded change if price is reduced from $10 to $4 and i) Rivals match price cut? ii) Rivals dont match price cut? b) By how much does quantity demanded change if price is ra ised from $4 to $9 and ) Rivals match price hike? ii) Rivals dont match price hike? 3. Suppose the following schedule summarizes the sales situation confronting an oligopolist in the beverage persistence Price (per unit) $0. 30 $0. 40 $0. 50 $0. 60 $0. 70 $0. 80 $0. 90 Quantity demanded per period (in millions) 10 9 8 7 6 5 4 Using the graph below, a) Draw the demand and marginal revenue curves facing this firm. b) Identify the profit-maximizing rate of output in a situation where marginal cost is constant at $0. 0 a unit. $ 1. 00 0. 90 0. 80 0. 70 0. 60 0. 50 0. 40 0. 30 0. 20 0. 10 012345678910 (Quantity in millions) 4. Suppose Nike and Adidas spend enormous sums of money every grade to promote their athletic wear, hoping to steal customers from each other. Furthermore, assume each year they have to decide whether or non they should spend more money on advertising. If neither firm advertises, each of them will earn $5 million. If two advertise, each will earn $2 million in profit.If one firm advertises and the other does not, the firm with the promotions will earn a profit of $3 million and the other firm will earn a mere $0. 5 million. Use a payoff matrix to present this problem. 5. For the problem in a higher place a) If the probability of an Adidas decision to advertise is 90 percent, what is the expected payoff to Nikes decision to advertise? b) If the probability of Adidas not advertising even though Nike does not is 20 percent, what is expected payoff to Nikes decision to not to advertise? c) What should Nike do?

Multimedia Courseware Shell Proposal Essay

A new experimental degree program, the Bachelor of Applied Business Program (BAB), was launched Spring Quarter 1994 by Continuing Education and Extension. BAB is a practitioners degree for the working adult student. The emphasis in the program is on learning skills and accessing info to apply to solving unimaginative body of work problems in a rapidly changing business world. The program was developed with substantial involvement of the Inver Hills Community College, the business community in the geminate Cities area, and the University of Minnesotas Continuing Education and Extension (CEE) unit. This is the first degree program offered by CEE, andif successfulit impart serve as a manikin for redefining outreach in the urban corridor to fulfill part of the land grant mission of the University of Minnesota. We are currently in the process of developing the guide materials and selecting faculty to find out in the program for Fall Quarter 1994.Note that the three distinguishing features of the BAB program include a number of technical features, graphic elements, or applications that could be signifi slewtly enhanced by multimedia courseware Courses are being designed with substantial involvement of area businesses to give students hands on experience, including leading and participating in group work skills for managing upward and downward business relationships storing, accessing, and retrieving in organizeation creating and implementing budgets, operations flowcharts, schedules, and staffing plans. Learning outcomes will be specified for each course and applications-related competencies will be integrated into courses across the curriculum.These will include emphases on writing, speaking, and visual communication using technology and information portion outment techniques, engaging in applied problem-solving and circumstantial thinking skills, working in teams, quality in the workplace, ethics, and the dynamics and management of a diverse workforce. Practicum/ plan work will also be an pregnant aspect of the BAB curriculum and students will be encouraged to develop and maintain a portfolio of their coursework and practical experiences which can later be apply as consequence of the competencies that they have developed.Our business partners stressed that the BAB upper division courses must be applied and skills-oriented, making use of interactive learning modules that model actual workplace situations. Moreover, the courses must integrate both medium and message into a fast-paced, electronically connected, multimedia learning environment that requires that students take aim the initiative and work on concrete projects with limited supervision.Project DescriptionUnder an earlier MinneMac grant the principal investigator, Elizabeth Michaels, collaborated with Deborah Henderson and Ann Douglas to create WAC (Writing Across the Curriculum), a courseware thump out, for delivering instruction in writing, pharmacy, and business courses. This shell has been used extensively in the English Department since 1990, at Grace High School since 1991, and for the past two years, in five Central and Eastern European countries Bulgaria, the Czech Republic, Hungary, Poland, and Slovakia. The major shortcomings of WAC are its lack of artistic production or visual capabilities and its lack of integration with other software packages.However, if we could integrate the basic principles of text livery that we have already developed in WAC with the capabilities of the PowerMac 7100specifically with its AV Video, CD-ROM, and color display, we could develop a powerful multimedia component that will teach students how to manage a business from their desktops. Moreover, by linking to other programs, like Microsoft Project, Excel, or Director, we can create a multi-functional learning tool that can be used in labs and for distance learning throughout Minnesota.The multimedia courseware shell we propose to develop will provide an innovative and easily updated rule of delivering timely, practical, high quality business courses to working adults. The PowerMac 7100 which we are requesting will be used initially by the multimedia courseware instruction team Elizabeth Michaels, Principal tec (English) Mr. Pat Lingren, Program Director (CEE) and our project consultant, William Rudel (Carlson School of Management). After the courseware has been developed and alpha tested, faculty designing the target courses will be trained in the use of the courseware shell to develop their own multimedia course modules.The project we propose, therefore, is to design an interactive, multimedia courseware shell, initially for four key courses in the curriculum. The BAB MultiMedia Courseware shell (BAB-MMC) will enable us (1) to develop multimedia case studies and (2) to create course materials which will enable students to integrate various project planning, database, spreadsheet, business graphics, and electronic mail package s with textual information in their classes. The BAB-MMC will serve two purposes as a training tool for innovative and experimental curriculum development for BAB faculty and as a teaching/learning tool for BAB students. The following is a description of the four courses and how we will use the BAB-MMC in each of them.1. be after and Implementing at the Business Unit Level (4 cr.) This course focuses on creating and implementing plans such as operations flowcharts, budgets, schedules, and staffing plans at the business unit level. The BAB-MMC will integrate these flowcharts, budgets, schedules, and staffing plans as well as the presentational software for creating written and oral briefings for presenting, monitoring, and revising these plans. It will also contain strategic planning instruction and forecasting techniques. Moreover, the course will make use of multimedia case studies to give students practice in solving real logistics and planning problems.2. Project Management in figure (4 cr.) This course has two objectives (1) to teach students about project management and the various tools and techniques available to the project lead in such areas as scheduling, coordinating, allocating resources, and monitoring project activities and (2) to provide students with the opportunity to carry out a field project and put the tools of project management into practice. These projects will be carried out in teams whenever possible. The BAB-MMC will integrate into the course a number of the abovementioned project management tools which will then be used by the students in recording and reporting on their field experiences. The students will also communicate electronically with the instructor and regularly post messages to a class bulletin board as a center of communicating progress and requesting help with problems.3. Accessing and Using Information Effectively (4 cr.) This course begins with a conceptualization of the role of information in business operations in cluding information systems and data management. The BAB-MMC will serve as a tool for developing short case studies and exercises, which include data-based, text-based, oral, written, and multimedia elements. Students will learn to access remote information for the firm through library resources, information search services, CD-ROMs, and periodicals and internal information through desktop database systems, e-mail, or computer conferencing.4. Practicum (4 cr.) Two of the three forms the practicum could take are (1) to develop a business plan for a new venture or (2) to complete a portfolio of projects which demonstrate transferable skills from previous courses or fieldwork. The BAB-MMC will take the current course materials that we have developed for the business plan and convert them into self-study units which will integrate spreadsheet, cash flow analysis, financial analysis, and graphics packages capable of creating organizational charts and other business graphics to enhance a nd simplify the preparation of a complete business plan and its pro formas. The third form a practicum could take is a supervised project at the students workplace or at another location. For this option, the BAB-MMC will set up a course Website where the students report electronically to the instructor and other students. This will minimize the need for site visits and enable one professor to manage and react to the individual needs of six to eight students who are enrolled in the practicum in any quarter more efficiently.EvaluationThe BAB-MMC will be evaluated by the developers bringing drug user testing on the shell and sample modules and by instructors developing modules for their courses to determine its ease of use and effectiveness as a classroom tool. Students will be asked to evaluate the BAB-MMC as part of their regular course evaluations at the end of each quarter. We will also have two representatives of the Digital Media Center conduct an independent evaluation of th e multimedia courseware shell as a teaching/learning tool. Quantitative and qualitative data will be collected.

Important of Tuition

Below is a free essay on Importance Of reading Reimbursement from Anti Essays, your source for free research papers, essays, and term paper examples. Importance of Tuition Reimbursement And Adult Learning Education is an important tool for individuals as surface as companies. Tuition reimbursement and extra time for adult learning can benefit both an employee and an organization.Providing tuition reimbursement for employees pull up stakes promote loyalty, smarter employees who will benefit the federation by having employees who ar more understanding of profits, inventory, and working with others, as well as create future managerial prospects to better companies as a whole. trustworthy employees atomic number 18 a major asset to companies and play a significant role in the success, efficiency, and effectiveness that a company achieves. Loyal employees will go the extra mile to delight customers and are highly motivated in their work. These employees would also resist offers of other jobs and would recommend their company to potential employees (Prewitt, 2003). By promoting loyalty, employees are more likely to be on time, stay with the company at least until their didactics is finished and are likely to continue with the company and be promoted.The more motivation and morale employees have from taking advantage of tuition assistance, the better example they will be for other employees and the more other employees will look up to these motivated employees. Motivated employees get others motivated which can lead to higher self-esteem, which can result in higher productivity of the boilers suit company. The more motivated employees are the more work that gets accomplished.Another benefit from companies providing tuition reimbursement for employees is to better the success of the company and to improve the overall performance of the company. While employees are attending school, employers get the advantage of new knowledge and innovative ideas put into prac tice right in the workplace. Employees, in turn, have the opportunity to apply their education to real business situations. And, their educational pursuits may

Chocolate Research Paper Essay

Chocolate is a key ingredient in many foods much(prenominal) as draw shakes, usher outdy bars, cookies and cereals. It is ranked as one of the most favourite flavours in North America and Europe. Despite its habituality most people do not spang the unique origin of this popular treat. Chocolate is a product that requires complex procedures to produce. The process involves reaping drinking coffee bean, refining coca to deep brown beans, and shipping the cocoa beans to the manufacturing manufacturing plant for cleaning, coaching and grinding.These cocoa beans will then be imported or exported to other countries and be transformed into different types of cocoa products. Cocoa beans grow in countries like Cote dIvoire, Ghana, Indonesia, brazil nut, Nigeria, Cameroon, and Malaysia, but the highest cocoa producing country is Cote dIvoire. The production process of cocoa beans include first, cocoa is harvested manually. The seed pods of cocoa ar gathered and the beans atomic nu mber 18 selected and placed in piles. These cocoa beans are then ready to be shipped to the manufacturer for production.Cocoa grows in pods that sprout off the trunks and branches of cocoa trees. The pods have the shape and almost the size of football. The pods start out green and turn orange when they are ripe. When the pods are ripe they are harvested gently with machetes. Machines can damage the trees or the clusters of flowers and pods that grow on the trunk, so workers have to harvest the pods by hand, using short, hooked blades mounted on long poles to reach the highest fruit. The cocoa seeds then undergo a process of fermentation by placing them in large, shallow, heated trays or by covering them with large banana leaves.If the climate is right, they may be simply heated by the sun. Workers mostly women come along periodically and stir them up so that all of the beans come out equally fermented. This process may take up to five or eight days. After fermentation, the cocoa s eeds are dried before they can be scooped into sacks and shipped to chocolate manufacturers. Farmers simply spread the fermented seeds on trays and leave them in the sun to dry. The drying process usually takes around a week and results in seeds becoming reduced to about half of their original weight.During the production process, parturiency is not equally divided among men and women who work in the planation this brings us to the issue of sex activity division. The gender divide that exists on the cocoa plantation is that most farm work is conducted by men, although most certainly there are tasks where women are very active, such as scooping the beans from the already opened husks, turning the beans during the fermentation and drying process, and sewing the jute sacs needed for the packaging of the dried beans. Women in the farms normally tend to the needs of the family.When female labor is hired during the harvesting time the wages given to them are not the same as those for men. Perhaps another reason why men are preferred is beca utilisation of their assumed higher productivity rate compared to that of women. Due to different practices followed in individual regions, even within countries, the participation of women and their assigned tasks vary enormously. For instance, because of the popular method of sun drying cocoa beans in Ecuador, it is necessary to clean the beans. This job is mostly undertaken by women.This is not the case in Ghana or Brazil where sun drying is accomplished while protecting the beans from foreign matters and waste. It is interesting to note however that there is no specific pattern for the assignment of tasks to women, except during the harvest when the scooping of the beans from the opened pods is primarily performed by women in most cocoa producing countries. Given the great differences in the systems of production in producing countries it is hard-fought to find a mutual percentage that reflects the average participation of the female work force.It is worth mentioning that unlike the coffee agricultural sector, there are no associations or specific groups that signal women only involved in the cocoa sector at any level, although all associations and cooperatives are open to all who qualify. Due to fluctuation of cocoa prices in the world market, farmers have no long-term security, and in some situations, they do not have enough funds to support their farming business.Cocoa farmers are always faced with financial hardship they are not able to provide for their families as they would want nor have enough funds to start up their own farming business because they only receive a fraction of the proceeds from the selling of the beans on the world market and there are many people in the trading chain. Cocoa farmers around the world face many challenges. It is estimated that about one-third of global cocoa crops are destroyed by pests and diseases each year.Many cocoa farmers have limited access to the latest agricultural technologies or methods of cultivation and few of them have business backgrounds to help them efficaciously market their products and manage their operations. Many of the farming communities live in poverty and are infected with diseases. Industry groups, governments and consumers worldwide have raised concerns about the use of pesticides and child labor on West African cocoa farms. An interview conducted by Christophe Koffi showed that one major problem that women in cocoa production impinge on is the lack the of financial capability or backing due to the fact that most of these women find themselves in a male dominated occupation.It is very difficult for them to secure financial aid or loans to manage their farms. For instance, Women cannot inherit or even create a cocoa plantation under our patriarch-dominated tradition, said Vanie, criticising what she called a backwards and misogynist practice (Koffi, 2008) because we still live in a patriarchal dominated society where women do not have the right to own lands and properties. This paper further talks about the sustanability in the production process of cocoa.We will be looking at Lindt& Sprunglis which is a family company and a major producer of chocolate and other cocoa products with a headquaters in Kilchberg, Switzerland. Lindt & Sprungli is one of the few chocolate manipulaters that have complete control over both step of the production chain starting with the precise selection of the finest cocoa varieties from the best growing areas in the world right on through the studious and expert processing until ending with the elegant packaging.Lindt gets its cocoa beans mostly from Ghana and Central and South America. Lindt has been very conservative in the amount of energy its invests in the chocolate production process. Each existing and future facility and investment undergoes very detailed analysis to determine how much energy can be saved. Through better insulation and energy re covery, Lindt & Sprungli was able to cut down on energy consumption by more than 13% per ton produced between 2004 and 2010.The company intends to continue reducing the energy consumption rate per ton produced by an average over the coming years. According to the Lindt publication, The companys efforts since 1999, Lindt & Sprunglis Swiss supplementary, Chocoladefabriken Lindt & Sprungli (Schweiz) AG, has been an active member of the Lake Zurich Energy Model GroupThe Swiss government and independent engineers have audited the progress and as a result, the Swiss subsidiary has been granted the official certificate.(Kilchberg, 2012) Since 2007, Lindt & Sprungli under water conservation has been participating in the Carbon Disclosure Project (CDP)Since then, the measurements of water emissions and energy consumption have been largely based on the concept of the Methodology Fossil Fuels set out in the CDP ProtocolWaste water, Lindt & Sprungli continuously monitors and analyses the use of water and the output of wastewater in the production process and intends to further reduce the use of fresh water in this process, which, in turn will impact the output of wastewater (Kilchberg, 2012).The major people that benefit from cocoa production are mostly the big corporations. The corporations exploit cocoa farmers in the sense that they do not recompense them the true worth of their labour. Women who work on the farms are underpaid and marginalized. There is also the issue of child labor where children of school going age are obligate to work on the farms instead of going to school thereby denying them the right to education. The big corporations are not forth coming in releasing randomness as to how and where they get their cocoa beans from.Most of these African countries where these big corporations get their raw materials from do not have access to good roads, health headache facilities, schools, electricity, and there is poverty in most of the communities. Thes e big corporations buy the cocoa beans at a very cheap rate and then import them to the western society and the refined product is processed into different kinds of chocolates (e. g. chocolate drink, chocolate bars of different shapes and sizes and chocolate candies etc. ) .Which are sold consumers at steep prices considering the price at which the cocoa beans are bought from the cocoa farmers. This explains how capitalism and big corporation exploit cheap labour. Almost everyone enjoys a bit of chocolate every now and a grasp. But if you take a closer look at how cocoa is produced, it may well leave a bitter taste in your mouth.The conditions under which the cocoa farmers in many producer countries live and work are worrying Despite the fact that cocoa is usually their main offset of income, the families struggle to make a living from it. Child labour is not uncommon. As consumers we can work with NGOs to find means of helping the farmers to adapt to sensitive systems of cocoa farming that result higher yields, under socially more acceptable and environmentally friendly conditions, to meet market demands and hence ensure a stable flow income. As a major part of the global cocoa industry which has remained inactive and invisible for so long, consumers of chocolate can march that they want slavery in the cocoa sector stamped out, and your pressure can highlight their lack of commitment and make them more accountable.Finally all cocoa products, including chocolate, run the risk of being tainted by child labour and slavery. To achieve a satisfactory standard of ethical production in chocolate consumers must help to ensure that companies commit to credible and sufficient actions against such things as use of child labour and the exploitation of cocoa farmers and not make false and unsustainable promises to consumers of being slavery- free. The consumers can liaise with government bodies and NGOs to negotiate fair prices for the purchase of cocoa products and this will in turn help the farmers to gain access to basic social amenities of life. Reference Page Archer, D. (2012).ADMs commitment to sustainable cocoa. Milwaukee Copyright 2012 Archer Daniels Midland Company . Clarkson, T. (1998). Anti-slavery. Retrieved November 15, 2012, from www. antislavery. org http//www. antislavery. org/english/privacy_policy. aspx Kilchberg. (2012, April 22). The environment in the Production Process.Retrieved November 13, 2012, from www. Lindt. com http//www. lindt. com/swf/eng/company/social-responsibility/lindts-sustainable-cocoa-supply-chain/ Koffi, C. (2008, November 7). Ivory Coast women defy taboos. Retrieved November 11, 2012, from iol News http//www. iol. co. za/news/africa/ivory-coast-women-defy-taboos-1. 423405.

Assignment One Personal Development Essay

1.Brief Introduction (300 words)I am employed by the a Policy & be after Manager at bottom the Fitness to Practise Directorate to an Assistant Director. In my annual appraisal last year, my line manager raised link ups regarding my communication skills, specifically rough tone and policy-making sensitivity, which were regarded as impacting on my susceptibility to build strong relationships. As a result, I have chosen to use this purpose as an opportunity to develop an up-to-date picture of my relationship building skills within the hierarchical and collaborative working culture of the . To this end, I developed a Personal Effectiveness Questionnaire, which I circulated to a range of senior colleagues with whom I have regular contact in a one-to-one and group context.To add-on the response rate to the questionnaire ( a copy which is included as supporting evidence), and in recognition of the fact my target audience are bombarded with electronic data and are therefore likely t o ignore an email, I chose to circulate this confidentially, through the internal mail. Respondents were asked to complete the questionnaire and return to me anonymously. I also invited respondents who felt they had issues that they would like to controvert further, to contact me to arrange a confidential chat, however nobody took up this opportunity, which may be an indicator either of their workload, or my approach expertness.I also use a variety of other investigation methods, including Myers Briggs and Belbins team determination questionnaires, self-assessment, and reflection on a range of management model reading materials supplied by the CMI website, to understand how this might be applied to interpret my own behaviour and management style. I also reflected on my notes from previous appraisal meetings, in statuesque and formal feedback from my manager and Professional Insight coach over the other(prenominal) twelve months.2.Presentation slides (please see enc pretermitd)3. Presentation notes (2, 200 words)3a.Range of skills(i) leading & Management Style (150 words)To get an overview of my selectred leading and management style, I considered the results of a Myers Briggs assessment which I completed during a recent Change Management course. The results of this showed my self-assessed type to be INTJ and my reported type to be ESTJ. I thought that it was interesting that the personality traits that were most consistently featured, were Thinking and Judging. I think that this reflects the fact that a strong courseency towards planning and critical sen erant underpins my management style.I also found interesting that when I circulated the personal effectiveness questionnaire, a number of colleagues independently volunteered remarks in the free text comments concussion at the bottom of the questionnaire, to the effect that I had a reputation for getting things done. I feel that this observation, given in a free and unprompted context, is of ill-temper ed significance as it is therefore likely to reflect their true opinion of me. An ability to see things through to completion and to be a driving take up within projects, is something which I have also identified through self-assessment, to be a definitive characteristic of my management style.This focus on the seasonable completion of projects is in line with Belbins team role, Completer/Finisher. I was interested to find that I also identified with the weaknesses of this team role as defined in CMI management theory summary, as I have observed that my tendency to worry can be an annoyance to colleagues. I recognize that one of my pick out development goals should be to be more measured in my approach to escalating and communicating risks or outstanding tasks.(ii). Team Management (300 words)Blake & Moulton identified two drivers of managerial behaviour hit for getting the job done and concern for the people involved. These factors influence the managers style. I have undertake n a self-assessment using Blakes managerial grid and have identified the Team Management approach as my preferred style. This involves tall direct of concern for the task and low for people, which is seen by some organisations as very effective. However, I also draw in that this may not be in step with the culture of my present employer, which in legitimate contexts promotes a more collegiate style of working.I have identified two management styles which I think are more commonly exhibited within the culture of this organisationAuthority-Obedience high levels of concern for both task and people. This represents quite a delayling style, but runs the risk of damaging relationships.Country Club Leadership high levels of concern for people and low for task. This is seen as accommodating it may create a warm and friendly working environment but a the cost of getting the job done effectively.I do not have the positional power to exert an authority-obedience managerial style, thoug h I am working within a culture which sometimes draws upon this. As there is an expectation of me to get jobs done reasonably efficiently, with the involvement and co-operation of other people, I realise that it would probably be more effective to strive for a management approach that is more Middle of the Road.Middle of the Road involves a moderate level of concern for task and people. Adequate performance is achieved by balancing the necessity of getting work done with maintaining morale at a satisfactory level.(iii)Managing your time and workload (400 words)Research by Francis-Smythe & Robertson (1996) shows that individual preferences about how we deal with five aspects of time, defines our own unique time personality. These five categories are planning, punctuality, impatience, time cognizance and polychronicity (multi-tasking). I decided to explore this theory by using it to categorise and self-access my own preferred behaviours, to help me better understand my strengths and weaknesses in this area.Planning I think I have a strong preference for planning ahead. I write to-do lists every day before I guide work, in order of priority, to remind me what I need to do as soon as I get in the next day. This helps me to manage straining, by avoiding a last minute panic. It would be helpful for me to develop better strategies for coping with events that occur off-plan, or when deadlines are missed or rushed.Punctuality I have a tendency to be late. I prefer to work flexibly, and I am more effective if I feel in hear of my day. I feel very stressed if I am late for something important. I try to manage this by avoiding early morning meetings.Polychronicity I prefer to have lots of tasks on the go at the same time, keeping everything moving forwards in small, manageable stages. I am good at prioritising and multi-tasking.Time-awareness I have a high awareness of the time. However, sometimes when I am focusing on a thinking task I lose track.Impatience I r ecognize that given that many of the tasks in which I am involved are dependent on input or seasonably decisions by other people my impatience sometimes manifests itself in a visible irritation which can impact on building effective relationships.(iv)Building effective relationships (200 words)I circulated a personal effectiveness questionnaire to colleagues which focused on my communication skills, as I recognize that these are the foundation stone to an effective leadership & management style. In general, there was a wide range of views regarding my sensitivity to the political nuances of the organization and awareness of the structural hierarchy. There was also a plum wide range of views regarding whether my tone is considered to be in step with the culture of the organization.I understand that my ability to build and maintain effective relationships in the study is dependent on my ability to understand of the culture of the organization. I found it helpful to apply Johnson an d Scholes cultural web to understand the factors (stories & myths, symbols, power structures, organization structures, control systems, ritual and routines) which influence the organizational values of my employer. When I thought about it from this perspective, I was surprised to recognize the power of stories and myths within my workplace, and the barrier this often presents to my ability to develop effective relationships, since many of my colleagues have been in post for over twenty years, and therefore steeped in a shared organizational memory which I, as a fairly recent recruit, have limited knowledge and understanding of.(v)Giving and receiving feedback (300 words)I circulated an anonymous personal effectiveness questionnaire to a range of colleagues, and received hexad responses. Half of the respondents felt I was very good at responding to constructive criticism in a one-to-one situation. One colleague had some concern in this area. Three-quarters of the respondents felt I was excellent, or very good, at responding to other peoples ideas in a one-to-one situation. Two colleagues had some concern. I felt that, in general, it is reasonable to assume that colleagues are likely to err on the side of being fairly generous in their assessment of others. Therefore, the high incidence of close colleagues reporting concern around my ability to give and receive feedback is likely to highlight a significant area for development.When I circulated the questionnaire, I included in the penetrate letter, the invitation to colleagues who had any concerns that they would like to discuss, to arrange a face to face meeting. Despite the high number of colleagues who clearly had some concern about my interaction with them, nobody too up this suggestion. Although I do realise that colleagues are busy, I feel that the significant reluctance of people to declare to me about their concerns directly, is in itself evidence of real concern about how I might react to feedback.I also self-assessed my own ability to give feedback that is specific, timely and effective in achieving the desired change in performance. I identified two specific scenarios in which I discussed with my manager. Firstly, I take into accountd feedback to Document Services round in relation to the timely preparation of the Fitness to Practise Reference Group papers which resulted in significantly correctd communication and higher standards of performance. I also provided feedback to several paper authors, intended to manage expectations around the stages of preparing the papers for submission to Council, which had a marked and immediate impact on the tendency of authors to convey to the schedule.3b.Learning style and process (300 words)My most memorable information experience to date was learning to scuba dive in the Red Sea. This is because it was very a applicative, hands-on course. The experience of scuba diving results in a very striking, multi-sensory memories the smell of the sea and the equipment, the image and feel of fish swimming next to you, the sound of the gravy boat above. This is in line with a preference for learning through kinetic experience (N. Fleming, VARK methodology Teaching and Learning Strategies.During the course seminar, we completed a learning styles questionnaire which investigated our preferences for activist, reflector, theorist or pragmatist types. This exercise indicated that I had a moderate preference for theorist, compared to the other learning types. I think this reflects the fact that I also tend to learn effectively through independent reading and listening. I am interested in abstract concepts and theories, which I think may be partially the result of conditioning through the preferred teaching styles of successive teachers and university tutors.Throughout my career, in the workplace I have acquired many new skills and strengths through practical experience. For example, I have a strong ability to prioritise my wor k and meet deadlines, which has developed out of necessity through my experience as a bid-writer responding to invitations to tender. In that situation, missing a deadline would have had significant financial consequences. Similarly, I have developed strong active listening skills as a helpline worker for a childrens charity, as we were provided with specific training to develop open communication and trust. The inability to gain the trust of callers would have had significant consequences for child safety.3c.Development plan, including excuse and resourcesDevelopment PlanWhyWhatWhenTo improve awareness of internal hierarchy and political nuances and appropriate risk escalationMentoring with Assistant Director of Legal ServicesAugust 2010 January 2011 To improve skills chairing meetings and improve ability to be inclusive of other peoples ideasOne day training house programmeSeptember 2011To develop effective relationships across directoratesSix month secondmentJanuary 2011 To de velop strategies for managing stress (expected to improve communication with colleagues)GP advice and weekly counselling Cognitive Behaviour TherapyAssessment by West London Mental Health Trust August 2011To monitor progress and recap development planMonthly personal development with line-manager to focus on communication skillsFrom August 20113d.Future Direction (100 words)I recognize that my weaknesses around communication skills, particularly within a group setting or chairing meetings, currently presents an obstacle to leading projects at the highest level. In terms of time to come direction, I would like to visualize myself having sufficient political sensitivity and nuanced communication style, to chair Project Board meetings, line-manage other members of staff, and blend into the culture of the organization. In particular, I would like to improve my ability to manage stress and work flexibly to cope with unexpected events. I believe that the successful completion of my devel opment plan will help to equip me to position myself for future promotion and to operate at a more senior level.4.Personal Review (500 words)I chose to give a presentation exploring my management style to my line-manager. in a confidential one-to-one basis, as I considered that this would facilitate honest feedback and constructive critical evaluation. In terms of my presentation style, felt that I achieved an appropriate proportionateness between credibility as a presenter in a professional context, with an informality and approachability most suitable to the one-to-one format. She felt that in terms of the content of my presentation, I demonstrated a significant level of insight into own strengths and weaknesses in terms of my personal management style, and how that supports me in delivering the requirements of my role and dovetails with the preferred management style and culture of the organization.In particular, the presentation proved to be a very effective mechanism for openi ng up a debate and honest exchange of views around our different management styles which provided a platform for rebuilding a relationship that had recently been in danger of disruption down.We discussed the development plan, which felt to contain achievable and relevant activities. In terms of building effective relationships, we identified that difficulties around this tend to arise where my line-manager is on quit and I lack the positional power to manage risks effectively. In recognition of this, has made arrangements for the Assistant Director of Legal to act as my mentor and provide additional senior cover to enable me to escalate risks appropriately. We also had a useful conversation around the power dynamics of seeking senior cover for risk management from other Assistant Directors, where departmental agendas may be in conflict with achieving the goals of the organization.We also had a very constructive discussion around learning styles, which enabled me to articulate my p reference for auditory learning, and draw attention to my active listening skills in telephone contact with distressed clients, in both past and present roles. This rather helpfully distilled what may be an unusual emphasis on the content and tone of speech, rather than body language, which sometimes leads to differences of perception of the bodily fluid of face-to-face communication, and its impact on effective relationships.I think it was helpful to arrive at a shared understanding of this with my line-manager, and we discussed a variety of strategies for stultification limitation of this in meetings and improve my personal development in this area. She has also offered to seek funding for six additional sessions of Professional Insight coaching from an immaterial provider, which can be added to my development plan.

Ice-Fili

Ice-Fili A storied mart leader facing competitive pressures To Senior Management, Ice-Fili February 12, 2012 period Situation Ice-Fili was fitting to maintain its leading military position in the Russian wish-wash flutter industry during volatile times. However, it now faces even tougher challenges that threaten its rising prospects reduction in ice- baste consumption, emergence of cost-efficient regional players, and the lack of a quality diffusion system. subsequently analyzing the situation, we recommend a dodge that aims to parent gross revenue by means of the earning of grocery store theatrical role, and improving the scattering network.Porters Five Forces Model Industry Rivalry Industry rivalry is high. The ice-cream industry is fragmented 300 producers fence in the market. Ice-Fili is an industry leader with 5% market share. Regional producers threaten Ice-Fili with their signifi fuckingt cost gain and flexible production system. In addition, foreign companies su ch as Baskin-Robbins and Nestle are expanding through relatively untouched segments such as cafes and restaurants. Threat of Entry Threat of entry is high.Numerous frozen imports companies dupe emerged as regional ice-cream producers with their cold-storage and production capabilities in pursuance of relatively high profitability in the ice cream industry. Economies of scale are non required for those small regional players. In addition, new entrants can whoop it up significant cost advantages over Ice-Fili through more cost efficient equipment. Threat of Substitute Products or Services Threat of substitute is high. Ice-cream is not perceived as a family product that people can enjoy at home as a dessert.Impulsive purchasing consists of a large portion of ice cream sales in Russia, mainly through kiosks or street stalls. In 2000, ice cream consumption declined 3. 5 % from the previous year in contrast, its substitutes such as beer, soft drink and candy store products experienced strong market demand growth indicating a change in consumer behaviour on the back of strong advertising. Bargaining Power of Buyers Bargaining power of buyers is high. Since Ice-Fili contracted with dozens of small distribution companies, no single firm has a significant bargaining power.However, there is a potential downside take a chance delinquent to the absence of exclusive contracts. For example, Service Fili, an independent affiliate, can carry its competitors products without restriction. No binding provision exists to enforce Service Fili to carry Ice-Filis products. A potential risk arises when competition becomes severe. Ice-Fili could lose distribution volumes if competitors offer more favourable deals to its distributors. Lastly, when thinking astir(predicate) the end consumer as a consumer of ice-cream, we see belittled switching costs. Bargaining Power of Suppliers Bargaining power of suppliers is low.For each of its major ingredients, Ice-Fili has 3 4 divergent suppliers and it is not hard to find new iodin. Thus, switching costs are low. Internal Environment Ice-Fili highly value employees, as shown by its financial director quoting Stalins Human resource capital decides everything. Ice-Fili understands its sputter in establishing itself in the open-market economy, so it actively seeks young and talented managers to help revive the company. Strategy & make Success Factors Ice-Fili employs somewhat of a focus strategy as a a few(prenominal) products make up a significant portion of revenues.However, they do form a very large product pass even though some products make up a very small portion of revenue. Thefore, Ice-Fili does not fully employ a focus strategy. Most of Ice-Filis ice cream products are priced at 6 rubles per portion, making it more expensive than products of regional producers and Nestle and at the same time a lot less than premium products which could be as much as 15 rubles per portion. Ice-Filis shipment to only u sing high-quality natural ingredients and eliminating the use of any artificial preservatives or colorants makes it clear its strategy is not low cost.Ice-Fili also does not directly compete with premium brands such as Baskin-Robbins and Haagen-Dazs which have twice the price and compete intensively in restaurants and cafes. To succeed in this strategy, Ice-Fili ineluctably to do two things. First, it needs to broadcast its commitment to follow the legacy of the traditional Russian ice cream makers and inspire consumers to foster and value traditional Russian ice cream making method, thus creating stronger brand law. Second, Ice-Fili needs to reconstitute its occurrent distribution system. Nestle already has its products twice as available as Ice-Fili. Summation of rudimentary Problems ) Competition Baskin & Robbins and Haagen-Dazs have already become incumbents in the premium ice cream space. Regional players have a big cost advantage so a price war or a move into a low cost strategy would be difficult. 2) Distribution Ice-Filis products have jolly limited availability. Distribution was also highlighted as a factor for the failure of other players in the Russian ice-cream market Reccomendation Possible Strategies The main goal of our recommendation is to stop the decline of Ice-Filis return on equity which has fallen from 27. 3% in 1996 to 14. 4% in 2001 (Figure 1, Appendix).We will look to do this through a combination of sales growth and margin expansion. We outline several possible options, and choose one which looks to be the most optimal 1) Focus on a low cost approach to grow sales 2) Focus on restaurants and cafes to improve margins 3) Focus on a few key products and improved distribution system to grow sales Analysis of alternatives and final recommendation 1) Ice-Fili currently still has 25% of their products produced with old machinery which results in higher costs in relation to regional players who have recently emerged and structured their operations around more efficient machinery.Ice-Fili could firstly invest in their equipment to make grow the rest of their machinery and improve the cost structure of their whole operation. They would then need to lower their pricing from the current 6 rubles closer to 1. 5 rubles to improve volumes. This could potentially be a lucrative strategy. However, the main hassle we see with this is the possible reduction in margins that could emanate from this (although it could be made up through increase volumes and lowering of costs). Also, since almost 80% of sales come through Gastronoms and Kiosks with limited space, sacrificing price for volume whitethorn not be optimal. ) If Ice-Fili focus or even just expand into restaurants and cafes, they could potentially improve margins due to the higher price points seen in this space. Ice-fili is a market leader with the number one market share in the industry as a whole, and they have also been around for much longer than some(prenomin al) regional players and foreign competitors. This bodes well for their ability to still sell significant volumes at higher prices. The downside to this strategy that we foresee is the fact that Ice-Fili is not the incumbent in this high end space with foreign competitors interchangeable Baskin-Robbins already fairly established.Secondly, we see that Baskin-Robbins factory utilization for 2001 was very low at 7%-12%. Although this may not be representative of the high end industry as a whole, it is still a concerning sign. 3) Our final alternative, and the one we recommend is the focus on a few key products, and the improvement of Ice-Filis distribution chain. Ice-Filis Lakomka was one of the three most recognized brands of ice-cream in Russia, but Ice-Fili was not able to trademark it. However, the industry has not historically spent much on advertising, and Ice-Fili is still a market share leader.This means there is still time to brand Lakomka as Ice-Filis product, just desire h ow people think about Coke when thinking about Cola drinks or Googling something when thinking about doing an internet search. By focusing on a few key products, Ice-Fili can capitalize on their storied tradition, and take advantage of the limited space in their main distribution maneuver (kiosks). on with this strategy to grow sales through taking of market share, we also recommend growing sales through improving availability.There are heavy capital requirements for building a strong distribution channel alone, but a joint venture with Baskin Robbins would be an efficient way to achieve this since these companies compete in different parts of the market, and a partnership with an international company will make foreign debt and equity investors more open to financing Ice-Fili. Appendix Figure 1. Financial Calculation (in thousands of U. S. dollars) Figure 2. Ice-Filis Current Market Position Price Price Brand Equity Brand Equity

How Risky is Risk

The human belowstanding, once it has adopted an opinion , collects any instance that confirm it, and though the obdurate instances may be to a greater extent numerous and more weightily, it either does not notice them or else rejects them, in order that this opinion pull up stakes remain unshaken. Francis Bacon, 1620. venture is a very cargoning thing tidy sum norm entirelyy tend not to stool the real instal that run a peril of expo genuine takes in their lives.There are numerous kinds of find, we want to focus on showing the pecuniary risk, the erudition of it, the effect that it has on the private banking behavior, their leaf nodes, and how they would be treated, the effect that it has on decision making, and the effect that it has o behavioral finance. Because when you burst out talking ab extinct behavioral finance you need to try to understand what risk represents and all of the effects it has. During this article we want to coming into court why over 10 % return margins shouldnt be viewed as something fantastic, but as something worth analyzing.Because in this times people are going to need over 10% margins if they still want to be making profits out of their investments. And once people understand what risk represents, what it represents ND all of its effects, they rotter start analyzing what they want and need out of their investments. And once they understand that, they are going to do anything to make it, because as it is said in the quote at the beginning once the human understanding acquires a goal and an opinion on how to get to the goal, he will do anything to end up successfully. . jeopardy risk of infection by definition, is the potential of gaining something of look on, weighed against losing something of value but, The term risk, doer financial risk or uncertainty of financial loss (Raglan, 2003). afterward using these terms for the purpose of this paper e will divide the study of risk into 3 parts types of fina ncial risk, the ways to measure IR and perception of risk. 2. 1 Types of risk There are many types of risk we are going to focus on 5 credit risk, securities industry risk, operational risk, regulatory risk, environmental risk.All of these are top priorities for banks to analyze end-to-end the operational exploit. Credit risk, is the potential that a borrower fails to meet his obligations on the terms that were agreed. There are 2 key comp nonpareilnts on defining credit risk, quantity of risk and the probability of default. The banking system manages credit risk using exposure ceilings, review re novelal, risk rating, risk based in scientific pricing and portfolio management. commercialize risk is the possibility of loss ca utilise by changes in market variables, it sums up to four comp whizznts.Liquidity risk, this is divided into financial support risk, time risk and call risk. Interest rate risk, which is the potential of controvert impact coming from changes in rates. For eign exchange risk and country risk. Operational risk Human error risk. Regulatory risk The risk implied by the government s ability to make new laws and modify regulation. . 2 Wars to measure risk There are several methods to measure risk, we will be focusing on the to the highest degree common ones and the ones that are better suited for Hedge Funds. Vary is used to quantify the exposure to the market risk, using standard statistics techniques.It measures the nominal expected loss that a firm may suffer under normal circumstances, over a set time period at a desired take of signifi stick outce. One of the biggest setbacks with Vary is that its useless in times of booms and crisis as it doesnt prevent you from being part of them. other big problem with Vary is that it is one of the near moon risk measures and people tend to confide it too much without hesitation. (CITE) Standard deflection is a measure of dispersion of a set of entropy from its average. It is usually applie d to the one-year rate of return of an investment to measure the investment s volatility. CITE) After victorious a look at these 2 methods that are the almost commonly used, we will be talking about the ones more suitable for the Hedge Fund industry, which are the following Seminarians or downside deviation is the average of the squared deviation of values that are less than the mean or a minimum acceptable return. This method is identical to variance, the difference between the dickens is that seminarians focuses only on the negative fluctuations of the asset neutralizing all the values above the mean. This method primarily provides the estimate of loss that a portfolio could incur, guardianship the estimated risk realistic. CITE) Kurtosis is a statistical measure used to describe the distribution of observed information used around the mesas. Kurtosis is in any case known as the measurement for the volatility of volatility. Its main purpose is to describe the trends in cha rts. Keenness describes asymmetry from the normal distribution in a set of statistical data. Keenness slew come in the form of negative keenness or positive keenness, depending on whether data flushs are skewed to the left (negative skew) or to the right (positive skew) of the data average. CITE) After analyzing these methods, we can conclude that for a Hedge Fund and especially for clients investing in these it is better to use the seminarians, kurtosis and keenness methods to analyze the risk of an investment. These three focus more on the downside risk of the portfolio instead of using the Vary that is only soundly on stable periods and doesnt account for drastic mimics, besides standard deviation and variance can be very deceiving in the context of analyzing the real risk that a portfolio can meet focusing also on outlying positive returns. 3. undercover banking What we want to analyze is the way private banks operate and especially how clients require are met, how they ar e treated, how their capital gets almost frozen with interest rates that barely covers their bullion from the effect of pompousness, and how private banks earn a lot of money while clients barely earn real returns. Banks passing annulled returns between 3 and 5 percent which is usually not enough to meet paving expenses or inflation for the wealthy clients. An American study showed the following Americans said they need to earn average annual gains of 9. Percent above inflation to make their financial needs. Natives officials noted that inflation since 1964 has averaged 4. 2 percent annually, which means the average American has to generate 14 percent to meet their needs. fee,2014) having this in mind clients can realize that they need to expect a bigger profit on their investments because they are actually losing money, their money is losing value and the only way f stopping this from hap is by demanding higher returns using alternative investments. broad(prenominal) returns while taking minimal risk is a pipe dream if asset growth is your priority, taking risk is crucial Oaf,2014), and that is why clients need to be sure that risk is being managed in the most efficient manner. 3. 1 Clients The most important part of any financial institution are the clients, and most important thing about them is recognizing that every client is different and every client has different needs. each client has to be treated differently to help them meet his/her goals. As the investigation of Dry.Rene Fischer and his team in the book Wealth Management in new Realities, we identify 7 engagements that are shaping client behavior and needs (Fischer, De Conge, OK, Topper, 2013), with this in mind we will take a look at those cardinal trends to give clients the best service possible while maintaining a steady margin of returns. Engagement one Changing demographics. The population is growing and also the markets, clients need security and information that their money is secur e and generating profit.Engagement two world-wideization and future markets. With the Gaps of various developing countries rowing at a fast pace, clients are starting time to look at investing in new markets. Engagement three Scarce resources and climate change. Global awareness is growing for environmental issues that can create new opportunities in clean energies, and a new set of investments in ecological matters for clients. Engagement four Economic crises and insecurities. With the volatility of the market, clients are starting to be insecure about their money.It is the financial institution s Job to keep clients informed about the smear their money is in, and make them feel safe that their money is in ethical hands. Engagement five combat-ready technology and innovation. With all the changes in information technologies, more and more people are getting affiliated and are sharing information on the go (Fischer, De Conge, OK, Topper, 2013), this makes clients better inform ed and more aware about what is happening to their money.Engagement six Sharing global interest responsibility. With the shift towards global cooperation and MONGO s gaining power, clients are demanding socially prudent investments. Engagement seven Global knowledge society. This trend goes hand in hand with trend occur five, with new technologies of information, society has easier access to new information and the tools to know what is happening.With all these trends happening, clients want to be more informed and still get the same yield, but with the misinformation, manipulation and misunderstood promises from the monetary agents, the clients think that having their money working to win Just a little over inflation Just to avoid losing money might be wrong, because with the globalize economy that we have this days studies that are being do all around the world can be generalized, so if something is happening in Europe you could assume that something similar is happening morph eme else.So with this in mind after taking a look in some studies made in India we saw that the inflation is not the same for every social class and that the general inflation that everyone takes for granted does really have much effect on the middle and high class, because it is made out from an average of items that dont really affect does two classes, and we are focusing on them because they are the ones that are clients of the financial institutions, and the prices of the items that they acquire are going up stronger that the regular inflation, so that is why they are not retorted with the interest rates that they receive, and they are in fact losing money which is the one thing that they were trying to avoid. 4. Behavioral finance There are many factors involved in the process of understanding behavioral finance.To understand this you have to start with risk perception, understanding why people tend to make certain decisions, and after that study the behavioral soliduses inve stors exhibit to see what drives the intuition of most individuals. Behavioral finance can help a financial institution prevent certain human factors that can be mitigated at the mime of making decisions and preventing psychological factors to play an important role in the decision making process. 4. 1 Risk perception Risk perception is one of the most important elements of psychological effect on the market. difficult to understand why people tend to make certain decisions at certain times is one of the biggest questions in this matter.Many investigations have been made about the subject, one that stood out was The Psychological Impact of Booms and Busts on Risk Preferences in Financial Professionals by Cohn, Fear and Marcella. During this experiment they decided to manipulate two different kinds of lotteries bragging(a) different options in different controlled markets. Their final conclusion was that there will always be a psychological/emotional factor that cant be deliberate with precision but you can be sure that during times of booms people tend to be overly optimistic and risk is not their biggest concern, and during times of busts people usually tend to be overly conservative and almost allergic to risk.This can be patent in both cases as it is when biases come into play. This is why risk can be a risky thing when you are not certain that is being measured the right way. If the risk is being measured correctly, psychological factors shouldnt have any weight in the decision making process. 4. 2 Behavioral bias Behavioral biases in finance are tendencies to act in a certain way they can lead someone to a systematic deviation from a standard of rationality or good Judgment. Five biases that we believe can be the most common ones in an investor are the following 1. bank check bias is the tendency that makes people believe in information only if confirms their beliefs and hypothesis. 2.Optimism bias is the tendency to think that you are less at risk of experiencing a negative event than others. 3. Loss aversion bias is the tendency that agents take on when they prefer the option of avoiding a loss than the option of acquiring gains. 4. selfish bias is the tendency to distort a process because of the need to maintain and enhance once self-esteem. 5. grooming fallacy bias is the tendency to underestimate the time that it will take to complete a task. These are only some of the behavioral biases that play a significant factor in the psychological process of making decisions. It has to be taken into account that all of them could affect an investor 5.Conclusion The human brain has evolved to be very efficient at pattern recognition, but as the confirmation bias shows, we are focused on finding and confirming patterns rather than minimizing our false conclusions. Yet we neednt be pessimist, for it is possible to overcome our prejudices. It is a start simply to realize that chance events, too, produce patterns. It is another gre at step if we take to question our perceptions and our theories. Finally, we should learn to spend as much time looking for evidence that e are wrong as we spend searching for reasons we are correct. (Millions, 2008). After looking at previous evidence, it is clear that both cloistered Bankers and Clients have a misconception about risk.Behavioral biases transform risk into fear which if not mitigated by Private Bankers leads to inefficient allocation in Clients portfolios, and a controlling position in their relationship. This is why Bankers usually carry off those investments that they are not familiar with and reject them or cause Clients to reject them without studying their process and risk/reward ratio. This is the case with vast majority of Alternative Investments. We encourage Clients to keep a critical point of view with regards to their portfolios and continuously question their Bankers recommendations. By being involved in their investment decisions and being up to da te on current market trends Clients will have a correct attitude towards risk when it comes to investing.