Structure Of The Derivatives Market Finance Essay - Free Essay Example

Sample details Pages: 13 Words: 4034 Downloads: 9 Date added: 2017/06/26 Category Finance Essay Type Cause and effect essay Did you like this example? Financial market for derivatives is called derivatives market. Derivatives market is a financial instrument that provides a safety tools and effective management risk of tools in financial futures and commodity products. Derivatives market also manages the fluctuation of stock index future market, option market, interest rate and stocks. Don’t waste time! Our writers will create an original "Structure Of The Derivatives Market Finance Essay" essay for you Create order With the establishment of derivatives market, it is hope that the investors and the corporations can manage their fluctuations of the market. The example of derivatives product in Malaysia such as KLOFFE, COMMEX and MDEX. Historically, the development of derivatives market in Malaysia started in 1980, as a Kuala Lumpur Commodity Exchange (KLCE), the first futures exchange in Southeast Asia establish offering palm oil futures contract. In 1995, Kuala Lumpur Options and Financial Futures Exchange (KLOFFE) were introduced. Its operation is for launching a stock index futures contract called KLSE Index Futures. In 1996, Malaysian Monetary Exchange (MME) was set up to facilitate the trading of three months KLIBOR futures contract and Crude Palm Oil (CPO) Futures. In 1998, KLCE combined with MME and changed its name to Commodity and Monetary Exchange of Malaysia (COMMEX). Next in 1999, the combination of two exchanges, KLOFFE and COMMEX to become Malaysia Derivatives Exchange (MDEX). MDEX trades four derivatives on that time, which is crude palm oil futures contract, KLSE Composite Index futures contract, KLIBOR futures contract and the KLSE composite options contract. In 2004, MDEX is known as Bursa Malaysia Derivatives Berhad until now. The exchange provide for trading of derivatives market. Derivatives market can be divided into two, which is exchange traded derivatives and over the counter. Exchange traded transactions are standardised contracts while over the counter transactions is more complex and be adapted to meet counterparties requirements. The most common types of derivatives market are interest rate swaps, options, futures and forward rate agreement. A forward rate agreement is a contract between two parties that determine the currency of exchange rate or the rate of interest, to be paid or received on a specific date beginning at a future start date. Futures contract is exactly the same as forward contract with one exception. With a forward con tract, the buyer and seller realize gains or losses only on the settlement date. With a future contract, gains or losses are realized daily. Options contract is an agreement that gives the owner right, but not the obligation, to buy or sell (depending on the option type) some asset at a specific price for a specified time. Options can be divided into two, call options and puts option. Call option is gives the buyer (holder) the right to but (not obligation) an underlying asset. Puts option is give the buyer the right to sell an asset and they can decide whether it is profitable to sell the underlying asset accordingly. Last but not least for the type of derivatives market is interest rate swaps. Interest rate swap is an agreement between two parties that agree to exchange of interest rate cash flows. Interest rate swap is commonly used for hedging and speculating. 2.0 STRUCTURE OF THE DERIVATIVES MARKET The structures that involve in derivatives market can be divided into four types, interest rate swaps, options, futures and forward rate agreement. The most common types used in Malaysia are options contract and futures contract. As we know futures contract is an agreement between a buyer and a seller to exchange a specified amount of cash for a specific asset at a future date. Futures contract is also a forward contract with the feature that gains and losses are realized each day rather than only on the settlement date. The differences of future contract and forward contract are that futures contract traded on exchange (the Malaysia Derivatives Exchange) with standardized agreement. The contract of futures contract was negotiated on a futures exchange which act as the intermediaries between two parties. The parties that agree to buy the underlying asset in the future contract, (the buyer) is said to be long while the party that agree to sell the underlying asset in future ( the seller) is said to be short The aim of the future contract is to minimize the risk default by the party. The types of futures contract available can be divided into two groups, commodity futures and financial futures. With a financial future, the underlying goods are financial assets such as stocks, bonds, or currencies. With a commodity future, the underlying goods can be just about anything other than a financial asset. There are commodity futures contracts on a wide variety of agriculture products. Wherever there is price volatility, there may be a demand for a futures contract and new futures contracts are introduced on a fairly regular basis. In contrast, options contract is an agreement that gives the owner the right, but not the obligation, to buy or sell some asset at a specified price for a specified time. Options can be divided into two, puts and calls. The owner of call option has the right but not the obligation, to buy an underlying asset at a fixed price, called the strike price or exercise price, for a specified time. The owner of a put option has the right but not the obligation, to sell an underlying asset at a fixed price for a specified time. The act of buying or selling the underlying asset using the option contract is called exercising the option. Some options can be exercised anytime up to and including the expiration date, other options can be exercised only on the expiration date. Because the buyer of a call option has the right to buy the underlying asset by paying the strike price, the seller of a call option is obligated to deliver the asset and accept the strike price if the option is exercised. Similarly, the buyer of the put option has the right to sell underlying asset and receive the strike price. In this case, the seller of the put option must accept the asset and pay the strike price. 3.0 THE ADVANTAGES AND DISADVANTAGES OF DERIVATIVE MARKET This market is introduced in intermediaries because to help people in order to protect the value against risk of price of asset owned going in an unfavourable direction. This market can transfer of risk from the people who are not willing to take it as hedgers to the other people who are has their intention to assume it as a speculators. From this change, there are the advantages of derivative market. 3.1 ADVANTAGES The first advantage of derivative market is enable price discovery. Derivatives market has encourage large number of people with objectives of hedging, speculation, arbitrage to take part in the market and it will increase the competition. So, the large number of people are keep track of prices and trade for a little reason. The individual with more information and better judgement are inclined to participate in the market to take advantage of such situation. When the price is change in small value, it will attract some action on the part of speculators. Active participation in the market in large number of both buyers and sellers will ensures a fair price. So, the increased number of participants will make more trades, more volumes and sensitivity to smallest of price changes facilities correct as well as efficient price discovery of assets. The second advantage of derivative market is provide leveraging. In order to take position in derivatives, the buyers require very small i nitial outlay of capital so that they can take a position in the spot market. For example, Malik is a buyer and he want involve in derivative market. He believes that the price of rice shall be at price RM30/kg in 2 month from now and that a farmer has agreed to sell it at RM28/kg. So, Malik should take this advantage to buy at full amount RM28/kg today and he will realise RM30/kg in 3 months later. However, there are the other ways that the buyer should not pay at full payment. To make this happen, they should enter into such contract. Derivatives provide those exit routes by letting one enter into a contract and can neutralize their position by booking opposite position on a future date. The third advantage is facilities transfer of risk. When we involve in derivative market, we are a way from the risk because derivative instruments do not involve risk. Instead, derivative instrument redistribute risk between the various market participants. In other word, derivative can be com pared with insurance where it provide facilities that cover against over the unfavourable market movements in return for a premium and provides opportunities to those who are willing to take risks and make profits in the process. The fourth advantages of derivative market are lower transaction costs. This is because the number of participants that involve in the market that make this happen. In the derivative market, the high number of participants that take part in the market make the cost become low. The fifth advantage of derivatives market is the market is efficient. This market is said to be efficient or in other word is to be complete market when the available instruments can by itself or jointly cover against something in possible adverse outcomes. However, it is theoretical concept which is not seen in practice. But, there is greater degree of market completeness even with the presence of derivatives market. 3.2 DISADVANTAGES However, there are disadvantages of derivative market. The first disadvantage is increased need of regulation. The large number of participants that involve in derivatives market. From this involvement, there are exist speculative positions. So, it is necessary to stop these activities which speculative to prevent people from getting bankrupt. Besides that, it also to stop the chain of defaults. The second disadvantage is raises volatility. This is because there will be many speculator when there are the large number of market participants that take part in derivative market. This is due when there involve with small initial capital due to leveraging derivatives provide. When this happen, it will leads to speculation and raises volatility in the market when they are speculate the raise and down of the price in the market. The third disadvantage of derivative market is higher number of bankruptcies. This is happen due to leveraged nature of derivatives. Participants assume pos itions so that they will buy in large amount. But, some people make a buying which do not match with their financial capabilities. As a result, it eventually leads the participants to bankruptcies. 4.0 OVERVIEW OF DERIVATIVE MARKET IN MALAYSIA Derivatives are a form of security where it is derived from one or more underlying asset. Derivative is a contract between two or more parties. Its value is determined by fluctuations in the underlying asset. The most common underlying assets include stocks, bonds, commodities, currencies, interest rates and indices. Derivatives are financial instruments that are widely used to manage a participants exposure to fluctuations in the financial markets. Derivative instruments can be traded on a formal exchange or market Counter (Over-The-Counter). Futures and options are the basic products are mostly traded derivatives in formal exchanges such as Bursa Malaysia Derivatives Berhad (BMD). On September 17, 2009, Bursa Malaysia Berhad entered into a strategic partnership with the Chicago Mercantile Exchange (CME) in order to improve access to derivatives offerings globally. This includes licensing for FCPO settlement prices to position Malaysia as a global benchmark for commodity pri ces and global distribution for Bursa Malaysia through Globex electronic trading platform. CME currently holds 25 per cent equity interest in Bursa Malaysia Derivatives Berhad, while the remaining 75 percent interest held by Bursa Malaysia Berhad. Bursa Malaysia Derivatives Berhad (BMD) was established to meet the growing need for financial risk management in Malaysia. The main role of Bursa Malaysia Derivatives Berhad is to ensure market integrity and to ensure the orderly conduct of trading futures and options. Futures industry in Malaysia is governed by the Futures Industry Act 1993 FIA. FIA is a form of regulation for trading futures and options as well as the Capital Markets and Services Act 2007 (Capital Market Services Act CMSA). This regulation comes under the jurisdiction of the Securities Commission, which is authorized by the Ministry of Finance. The two organizations together responsibility for setting guidelines for the operation of Bursa Malaysia Derivatives Ber had. The Securities Commission also is the approving authority for all contracts traded in accordance with the provisions of the law and also for the licensing of participants in the market as a Futures Brokers Representative. All customers are required to place a deposit margin with Bursa Malaysia Derivatives Clearing Berhad, as a goodwill deposit before starting trading in the futures market. This deposit is known as initial margin. Typically, trading participants (Trading Participant) it is the futures broker will be a representative to collect deposits from customers and submit it to the Bursa Malaysia Derivatives Clearing Berhad.   The Bursa Malaysia Derivatives Clearing Berhad clears and manages counter party risks in relation to all contracts traded on Bursa Malaysia Derivatives Berhad. It is also regulated under the FIA 1993 and has its own business rules to govern the contractual relationship between itself with each of its Clearing Participants Below is the il lustration of the trading and clearing process: Description: https://www.apexequity.com.my/cms/img_ed/overview.jpg Bursa Malaysia Derivatives Clearing Berhad (BMDC) will secure and manage the risk of all parties involved in a trade in respect of all contracts traded on Bursa Malaysia Derivatives Berhad. BMDC also require daily settlement for all transactions, thus providing tight control over margins due to price changing. 5.0 MAIN ISSUE ABOUT DERIVATIVES MARKET 5.1 FIRST ISSUE Saturday October 20, 2012 BURSA NET PROFIT DOWN SLIGHTLY IN Q3 ON WEAKER SECURITIES TRADING PETALING JAYA: Bursa Malaysia Bhds net profit fell 4.1% to RM37.03mil in the third quarter ended Sept 30 from RM38.62mil recorded in the previous corresponding quarter on weaker securities trading. Revenue dipped 1% to RM106.21mil from RM107.31mil with earnings per share declined to 7.0 sen compared with 7.3 sen previously. Chief executive officer Datuk Tajuddin Atan  said: In the prevailing market conditions, Bursa has attained a stable performance for the first nine months of the year with a marginal growth in PATAMI (profit after tax and minority interest), driven by growth in stable revenue, derivatives business and Islamic market, and coupled with lower operating expenses. For the nine months ended Sept 30, its earnings showed a 0.8% increase to RM115.75mil from RM114.82mil previously. Revenue declined to RM322.68mil from RM324.47mil. The softer performance was in line with the weak securities trading regionally but cushioned by successful initial public off erings (IPOs) in our market, Tajuddin said in a statement. The results came after its counterpart, the Singapore Exchange, announced that a decline in trading volume dragged down its net profit for the first quarter ended Sept 30. Net profit fell 15% to S$74mil on revenue of S$160mil. Tajuddin said the stock exchange operator was committed to maintaining the level of performance by undertaking various initiatives that would accomplish its business objectives and strategies, notwithstanding the market conditions. Meanwhile, trading revenue of the derivatives market rose to RM40.6mil from RM38.7mil, attributable to the improved performance of total traded volume that rose to 6.95 million contracts against 6.32 million contracts in the first nine months of 2011, driven by the increase in the trading volume of crude palm oil futures. On the Islamic market front, Bursa Suq Al-Sila (BSAS) recorded a 79% rise in its average daily trading value to RM2.06bil for the period under review from RM1.15bil previously. The spike was due to the increasing use of BSAS as a commodity  murabahah  trading platform. https://biz.thestar.com.my/news/story.asp?file=/2012/10/20/business/12201103sec=business Summary of the news From the article above about the issue of derivatives market, we can conclude that the bursa saham suffered a declining net profit by 4.1% because of the weak security trading. The earning per share dropped from 7.3 cent to 7.0 cent. Meanwhile the derivatives market is rise up from RM38.7mil to RM40.6mil. this is because the increase of trading volume of the crude palm oil futures. 5.2 SECOND ISSUE Bursa Malaysia Derivatives wins award Published: 2012/09/19 Bursa Malaysia Derivatives (BMD) won the Best Technology Innovation by an Asian Exchange award and emerged runner-up  in the Asian Derivatives Exchange of the Year award category at the Futures Options World Award ceremony held in Singapore yesterday. Factors that contributed to the recognition included, easy accessibility and global connectivity of the Malaysian derivatives market, a statement by Bursa Malaysia Bhd today said. BMD had implemented several technological enhancements over the last two years, including migration to the Chicago Mercantile Exchanges GLOBEX Trading Platform, and hosting an Order Management System to move domestic futures brokers to a CME-certified broker front-end system. It also launched a new Derivatives Clearing System with multiple functionalities and capabilities with a SPAN risk-based margining system .  As part of its market development drive, Options on the FKLI was re-launched an d a new product, Options on Crude Palm Oil futures contract (OCPO) was subsequently launched in July 2012. Derivatives is becoming well accepted as a tradable and hedging product that create opportunities and we see huge potential in this market. The partnership with the Chicago Mercantile Exchange (CME) Group has indeed assisted our growth story. This award recognition, clearly validates the economic path that Malaysia has taken to globalise the derivatives market, the Chief Executive Officer of Bursa Malaysia and BMD Chairman, Datuk Tajuddin Atan said. Tajuddin said the strong support from the Ministry of Finance, Securities Commission, Bank Negara Malaysia and Trading Participants have been key to transitioning Malaysia into a regional and global marketplace. Bernama   https://www.btimes.com.my/Current_News/BTIMES/articles/20120919212211/Article/index_html#ixzz2Ce5mBzKX Summary of the news The article conclude that Bursa Malaysia Derivatives (BMD) won awards for the achievements in the year 2012. Factors that contributed to the recognition included, easy accessibility and global connectivity of the Malaysian derivatives market. BMD also had implemented several technological enhancements over the last two years, including migration to the Chicago Mercantile Exchanges GLOBEX Trading Platform, and hosting an Order Management System to move domestic futures brokers to a CME-certified broker front-end system.  It also launched a new Derivatives Clearing System with multiple functionalities and capabilities with a SPAN risk-based margining system. CEO of Bursa Malaysia and BMD chairman, Datuk Tajuddin Atan stated that the award has taken Malaysia to the globe of the derivatives market. 6.0 CONTRIBUTION TO MALAYSIA ECONOMY Economy of a certain country depends basically form the demand and supply. Derivatives market in Malaysia is largely being used in the economy in the world including Malaysia. The markets have many importance towards the economy stabilization and growth. The derivatives market introduced because to help people value against risk of price owned going to unfavourable direction and this means that this will make it secure of people in Malaysia to use the derivatives market as the financial instrument. This will lead to the growth of the economy in Malaysia. The derivatives market play a vital role both financial and non-financial institutions. In Malaysia the increasing of volume of trading derivatives market is the crude palm oil. Over the past nine months the increasing of the volume of crude palm oil make the total traded in the market is the highest. It is also true that growth of derivatives market reveal the increasing market demand for risk managing instrument in the econ omy. But the major concern is the main components of OTC derivatives are interest rates and currency swaps. Then economy basically will suffer if the derivatives is misused and if a major takes place in derivatives market. The derivatives markets provide facilities for investors who require innovative investment tools and flexible to take advantage of the opportunities of the global market, this will lead to increase number of investors in Malaysia. Offering appropriate above-average returns to investors and portfolio protection, and offers facilities for hedging activities that can produce efficient financing for the investment portfolio will make a big contribution towards the growth of economy in Malaysia. Derivatives Market never failed to contribute to the growth of Malaysia economy because it is nowadays the most growing market in Malaysia. 7.0 CHALLENGES IN THE DERIVATIVES MARKET Derivatives give an impact on the financial economy as well as the real economy in the country. It is because there is much risk in this market. The price and rate volatility have increased in recent decades. This can cause for concern for a particular firm depends on the nature of the firms operations and its financing. The price fluctuations have greatest impact on the value of the firm. Sometimes it will be obvious, but sometimes they will not be. The derivatives may result in large losses to the investors because of the use of leverage or borrowing. The investors assume positions which do not match their financial capabilities and they could lose large amounts if the price of the underlying moves against them significantly. It will curtail real economic activity, which can cause a recession. It exposes investor to counter party risk in a financial transaction. Investment losses can occur if the investors lack of research and sound investment because they are not prepared well. The risk transfer factor needs to be applied in a targeted way in order to ensure that the investor does not take unnecessary risks, especially in swaps derivatives. Different types of derivatives have different levels of counter party risk. The derivatives give the challenge to those who are not familiar with speculative markets. It trade directly and only on uncertainty. It becomes relevant for volatility in the financial markets and is not in direct correlation with the fundamental value of the assets that are being traded in the derivatives market. An investor who cannot adapt with uncertainty in investment will tend to take different type of investment structure. Some derivative contracts involve foreign currency that is associated with transactions in the underlying item. The firm must exchange foreign currency for domestic currency to realize the domestic value of its foreign-denominated in a foreign currency. They face a risk of changes in the exchange rate betwe en the foreign and domestic currency as they negotiate contracts with set prices and delivery dates in the face of a volatile foreign exchange market with exchange rates constantly fluctuating. The time decay of an options contract can affect the investors because they have to pay a fee for the trade for which is never transacted. But it also can affect the buyer where he will lose that fee which secured the option to buy if he chooses not to complete the transaction. So the challenges that happened in the derivatives market in some ways weakens the basis of asset price. Financial stability as observed with the role of derivatives is effectively based on price changes as derivatives have little relation to the principal asset prices and only work on the price changes for these assets. 8.0 CONCLUSION The derivatives market gives benefits to the investors and the overall economy of a country. They can create a new business, and any employment opportunities from the profit they gained from the derivatives market. A derivative products value depends upon and is derived from an underlying instrument, such as commodity prices, exchange rates, interest rates, indices and share prices. It instruments can be traded in an organized exchange or over-the-counter (OTC). The exchange traded transactions are standardized contracts whereas the over the counter transactions are tailored to investors requirements. The derivative gives benefits such as (i) Provide facilities to investors who need an investment tool that is innovative and flexible and can take the opportunities of global markets; (ii) Offers above-average returns and portfolio protection to investors, and (iii) Offer facilities for hedging activities that can produce an efficient financing for the investment portfolio. T he derivatives market contains the instruments that are very complex such as futures, and options contracts. The investors need to have a good knowledge and understanding in order to success in trading futures and options. It is because the derivatives work on price changes, or volatility of the asset prices. This market transfer risks from one party to another party.

Essay on Mary Shelleys Frankenstein - 540 Words

In the novel Frankenstein, by Mary Shelley, the antagonist and protagonist changes throughout the course of the plot. In the earlier part of the novel nature is the protagonist and man is the antagonist, but as the plot progresses nature is forced to protect herself by becoming the antagonist and making man the protagonist. By the end of the novel both of the examples of man and natureamp;#8217;s antagonist characteristics lead to their inevitable destruction. nbsp;nbsp;nbsp;nbsp;nbsp;In the beginning of the novel, Victor or man, is the antagonist and nature is the protagonist. Victoramp;#8217;s overwhelming hubris makes him strive to achieve his goal by any means necessary. Victor becomes so blinded by his passion for his goal†¦show more content†¦The best example of the monsters turning into the antagonist is after he saves a mans daughter and the man shoots and him. The monster, after this even says that this was the last time he did anything good. Mans cruel attitude towards the monster was not the only cause of his turning to antagonist, Victoramp;#8217;s attitude as well was a major contributor. Nature is forced to protect herself (or the monster) and man (or Victor) takes the heat making nature the antagonist and man the protagonist. nbsp;nbsp;nbsp;nbsp;nbsp;Towards the end of the novel, the presence of a defined protagonist and antagonist becomes unclear. Victor becomes obsessed with killing the monster, and the monster becomes obsessed with putting Victor through torture. Both of these flaws of hubris lead to both downfalls. Victor ends up dying trying to kill the monster, and the monster killsamp;#8217; himself seeing that Victor is dead. Both the monster and the Victor could be called the antagonist at the end of the novel because both with to harm each other. nbsp;nbsp;nbsp;nbsp;nbsp;In the novel Frankenstein, the role of antagonist and protagonist often changes throughout the course of the plot. 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The Laws Of Hammerabi Essay Research Paper free essay sample

The Laws Of Hammerabi Essay, Research Paper The Laws of Hammurabi The best method of happening out about a certain civilization is to look at their Torahs and other tribunal records. The Laws of Hammurabi are the best preserved legal papers reflecting the societal construction of Babylon during Hammurabi? s regulation. They address the rights of the hapless to seek compensation from wrongs committed by the wealthy or by the aristocracy. The Torahs besides discussed the rights of adult females, such as the right to have belongings in their ain names and to disassociate their hubby. Through these Torahs, the Mesopotamian people, or their swayers at least, seem to have been a really rigorous civilisation. This is evident in Torahs 22 and 23, refering larceny and robbery. Any adult male caught perpetrating robbery will be put to decease. Based on today? s society and Torahs, that seems really rough, but it shows that the Mesopotamian people were really austere with the felons. We will write a custom essay sample on The Laws Of Hammerabi Essay Research Paper or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page The following jurisprudence says that if a robbery has bee n committed but the robber has non be caught, ? the metropolis and the governor # 8230 ; shall do good to him his doomed property. ? This just and merely jurisprudence would neer go on in today? s society. The authorities does non reimburse people for stolen points, with the exclusion of insurance money. The Laws of Hammurabi besides show that the Mesopotamian people were really household oriented. Law 195 provinces that any boy who strikes his male parent will lose his manus. Although this is a really rough jurisprudence, it shows that the society had regard for their seniors. If that regard was non at that place, they were badly punished. Laws 209-212 besides discuss household issues, particularly girls and their foetuss. Anyone who killed a foetus was required to pay a certain sum, and, if the pregnant adult female dies, his girl would be killed besides. The penalty was lessened for a common man? s girl and kid, but it was still rigorous. These Torahs show that the people were really concerned with their kids and household.

Conflict and Flexible Organizational Behavior

Question: Discuss about the Conflict and Flexible Organizational Behavior. Answer: Introduction: The Maslows hierarchy addresses all the individuals with diverse needs (Lester 2013). Each group of employees belong to the different levels of the Maslow Hierarchy of Needs- The first group of single and young employees who wish to increase their income for the purpose of purchasing their first house and first car belongs to the esteem needs. This is because this group of people prefers to maintain their prestige in the society. The second groups of employees who are middle aged working parents belong to the category of belongings and love needs where they expect to gain love from their young children. They want to create a sense of belonging, trust and intimacy with their children. The third group of employees who wish to raise high in the corporate ladder belongs to the esteem needs as they want to have a feeling of accomplishment in their professional life. They want promotion and professional appreciation so that their colleagues treat them with dignity and respect. The fourth groups of employees who are old aged employees belong to the category of Self actualization needs as the employees have realized that they have achieved their personal potential, personal growth and have reached their peak experiences. They have reached the status of the self-fulfillment in their professional life. Based on your answer in part (a) above, suggest what can be offered by ABC Sdn Bhd to these different groups of employees so that their needs are fulfilled. Explain your suggestion. The company should take initiatives to take care of the different individuals who belong to different levels in the Maslow hierarchy of needs. The first group of employees should be given respect and dignity in the workplace and their performance appraisal should be done on a regular basis. If they are found suitable as per the organizational policies, then necessary increments should be done. The second group of the employees should be given flexible work options so that they can balance their personal as well as professional lives (Allen et al. 2013). The third group of employees should be given dignity and appreciation for their hard work so that they can climb the corporate ladder in the shortest possible time by fulfilling all the organizational criteria (Hicks and Waddock 2016). The organization should strive to improve inter personal relationships in the organization. The fourth group of employees are the old age employees who must be given something extra than their regular c ompensation. They should be given health related benefits and regular medical checkup for ensuring that they maintain optimum health (Ganster and Rosen 2013). An option for providing after retirement benefits should be encouraged in the organization which would make the future of the employees secure. If there is fulfillment of these factors, then the individuals would be motivated to work more and hence there would be an increase in the organizational productivity. References Allen, T.D., Johnson, R.C., Kiburz, K.M. and Shockley, K.M., 2013. Workfamily conflict and flexible work arrangements: Deconstructing flexibility.Personnel Psychology,66(2), pp.345-376. Ganster, D.C. and Rosen, C.C., 2013. Work stress and employee health A multidisciplinary review.Journal of Management, p.0149206313475815. Hicks, D. and Waddock, S., 2016. Dignity, Wisdom, and Tomorrow's Ethical Business Leader.Business and Society Review,121(3), pp.447-462. Lester, D., 2013. Measuring Maslow's hierarchy of needs.Psychological reports,113(1).

direct marketing paper Essays - Consumer Behaviour, E-commerce

DIRECT MARKETING PAPER Introduction With today?s market economy weak from the latest recession, it is important that every company utilizes a comprehensive direct marketing strategy. Direct marketing is about communicating a message to a specific prospect or customer. The success of that communication is measured by sales of the product. There are several elements to direct marketing that a company can use. Some of these elements are mail, e-mail, catalogs and telemarketing. One way a marketer reaches their customer is online. In today?s world most consumers browse the internet shopping for items they want to purchase. Consumers may not necessarily purchase an item online. According to the web site thirty million penguins http://users.rcn.com/gui/marketing.html, ?Put yourself in your customer's shoes. Your first problem is inertia. Only 11% of Webbies shop on the Web?. With numbers that low it?s very hard to effectively market a product on the web. Most companies have had great success using the web to market their product. Let?s look at music and see which marketing strategy best works, using online or traditional retail store for a market segment under 30 years old. Purchasing online music has become simple for the average computer user. Several online stores like Rhapsody and itunes allows customer to purchase songs and download them to their mp3 player or ipod. The advantage to purchasing music online is that you never have to leave your home and downloading songs may take only a few minutes before you can listen. The disadvantage to buying internet music is the monthly fee to access their site and download songs. On top of the monthly fee online music stores will charge a fee per song usually $.99 cents. The benefit of buying from the comfort of your home can cost you much more. The other option to buying music online is purchasing in a traditional retail store. With the easy availability of online shopping it is getting harder to bring in consumers into store to purchase music. A non-direct strategy to get consumers to buy music in stores is to co-locate music with other product. Companies such as Best Buy sell electronics and in the center of their stores are the music isles. In the stores, while browsing the isles, consumers may elect to purchase an individual song or an entire CD (compact disc) of an Artist or group. The advantage of this strategy is that you get the consumer to purchase multiple items such as CD players along with music. Using a direct marketing strategy (online) is the most popular with the 30 and under segment. According to the website www.esemc.com/artscienceofmarketingonline.pdf, it says that ?The online channel can be targeted and it is measurable, no matter what the business or brand goal. A company?s website, for example, like any retail store, must facilitate affinity and relationship building as well as deliver on sales goals, be they long or short term, direct or indirect. Any successful online execution requires both the ART of big, creative ideas and strategies and the SCIENCE of segmentation, analysis and targeting?. Using online marketing by music producers will reach the largest demographics of 30 and under adults. In this paper we have discussed online marketing to traditional marketing in regards to buying music. There are advantages and disadvantages to shopping online or at the retail store. For the thirty under crowd, online shopping is the most widely used. References www.esemc.com/artscienceofmarketingonline.pdf http://www.users.rcn.com/gui/marketing.html

Increasing Investment Attractiveness Of CIS(ex-USSR) Countries Coursework

Increasing Investment Attractiveness Of CIS(ex-USSR) Countries Coursework Increasing Investment Attractiveness Of CIS(ex INCREASING INVESTMENT ATTRACTIVENESS OF CIS (EX-USSR) COUNTRIES Two decades ago, the Soviet Union broke up and allowed fifteen of its republics to gain independence. The former republics were facing a significant backlash from investors because of their association with the Soviet Union. However, some of the republics adopted various policies that have enhanced their investment attractiveness over the years (United Nations Conference on Trade, 2009, p. 13). The measures include:A. Transitioning from communist economies to market economies After breaking from the USSR, some of the republics such as Estonia adopted a free market policy thus becoming the richest of the CIS countries (Russia and CIS, 2015, p. 7). Free market attracts investors because it allows investors to invest any amount of money they want into the economy. It also encourages high-profit margins and the product of high-quality products. Investors are also attracted to free markets because such markets promote the eff icient allocation of resources (Emerging Europe Monitor Russia and CIS, 2014, p. 8). It gives investors that they will achieve maximum returns from their investments. B. Trade Partnerships with European Nations Estonia joined the European Union on May 2004. Its membership has prompted an investment boom in the country (BBC News Europe, 2011, p. 1). Global European electronics and telecommunication companies have established strong trade relations with Estonia because of its membership of the European Union. The trading partnership with the European Union has enhanced the reputation of CIS as countries committed to the economic development of Europe thus attracting investors. C. Tax Reforms Immediately after breaking from the Soviet Union, six of the former republics adopted flat tax rates. CIS countries such as Slovakia and Estonia introduced a flat tax on both personal and corporate income thus accelerating economic growth. For instance, Estonia recorded an economic growth rate o f between 7 and 10 percent during the 2000s (Goyette, 2011, p. 1). The economic growth of these republics encouraged foreign direct investments. Investors were confident that their investments would yield a positive return in the long run. D. FDI incentives and Free Zones Azerbaijan announced the establishment of a free economic zone to boost investments in the country. The country is also negotiating with world trade organization (WTO) for its accession to the organization. A successful accession into WTO will boost the country’s competitiveness in the global market. Russia signed an agreement with former CIS nations to enhance the scale of trade among member countries. More investors are entering the Russian market because of the available opportunities in the other CIS countries (Emerging Europe Monitor Russia and CIS., 2014, p.11). E. Economic and Social Stability Kazakhstan has a stable social and economic environment, which have attracted major foreign investments in r ecent years. According to Ernst & Young, Kazakhstan’s stable and steady economic growth makes the country among the fastest growing economies in the world. Since 2011, Kazakhstan’s gross domestic product has more than doubled, and economists predict that the country will experience the same trend in the next few years. In fact, the country attracted modest foreign direct investments in 2012 at a time when world saw a sharp decline. ReferencesRussia and CIS., 2015. Emerging Europe Monitor: Russia & CIS, 19(1), 1-12.United Nations Conference on Trade., 2009. World Investment Report. New York: United Nations.Belderbos, R., Fukao, K., Ito, K., and Letterie, W., 2013. Global Fixed Capital Investment by Multinational Firms. Economica, 80(318), 274-299. Emerging Europe Monitor Russia and CIS., 2014. Emerging Europe Monitor: Russia & CIS, 18(8), 1-12. BBC News Europe., Aug. 18, 2011. Former Soviet republics: Winners and losers. London: BBC News. Retrieved from bbc.co.uk/news/w orld-europe-14489883 Goyette, B., Nov. 8, 2011. Flat Taxes Are Big in the Former USSR. Have They Worked? New York: ProPublica. Retrieved from propublica.org/article/flat-taxes-are-big-in-the-former-ussr.-have-they-worked

Aids and it is obstacle to African development Essay - 1

Aids and it is obstacle to African development - Essay Example It can be noted that the effects of HIV/AIDS pandemic have a direct bearing on the development of the African countries. As such, this essay seeks to critically discuss the obstacles caused by the HIV/AIDS pandemic to African development by analysing the situation in South Africa, Ethiopia and Sierra Leone. The paper seeks to outline the direct effects of HIV/AIDS on development in these three countries as well as the measures that have been put by the respective governments to deal with the situation. Human Immuno-deficiency Virus (HIV) is contracted through birth, sex, sharing sharp objects such as a razor blade and over time the virus will spread over the body and weaken its cells. The weakening of cells causes AIDS- Acquired Immune Deficiency Syndrome which leads to illness and eventually death from related diseases such as tuberculosis or pneumonia and many others (Greyling, 2). HIV/AIDS is one of the most difficult catastrophes to deal with during the contemporary period given that a cure for this deadly pandemic is not yet available and may not be near in sight for quite some time hence the only option that is available at the moment is to strengthen the mechanisms to prevent, reduce the spread and minimise the impact of HIV/AIDS (Benjamin & Barry, 28). In the Sub Saharan Africa in particular, death rates have continued to rise because of the HIV/AIDS pandemic causing life expectancy to fall from an average of 50 years in 1990 to 46 years in 2002 (ADI, 14). AIDS related deaths were 2.2 million in Africa in 2001 and there were more than 30 million infected people. Both Ethiopia and Sierra Leone also have high HIV infection rates according to the report. In the same vein, South Africa is one of the countries with highest HIV infections in the Sub Sahara region regardless of its strong economic performance.

Formative and Sumative Evaluations Essay Example | Topics and Well Written Essays - 5000 words

Formative and Sumative Evaluations - Essay Example The methods of actual teaching and of evaluating teachers are also affected by these advancements. With the changing world, the need to adapt methods of measuring teachers' performance was seen as necessary. "As the technological age continues to render traditional classroom practices obsolete, many educators are still untrained and apprehensive when it comes to technology integration. Therefore, a paradigm shift is needed that requires more than just a quick-fix staff development solution, especially since the No Child Left Behind Act stipulates that educators must be "highly qualified" by the end of the 2005-06 school year. This leads to the expectation that teachers will create learning environments which challenge and broaden their students' comprehensive use of technology" (Janice M. Hinson, 2005). However, recent studies show that although computers and internet are highly accesible to the teacher, with the figure reaching 99%, only 39% are found to have integrated the use of technology in their lesson. Of these figure, only 33% feel that they are preapred to integrate technology tot heir teaching, while the other 66% felt that they are somewhat prepared or not at all.(NCES). "So, it should come as no surprise that while many principals want to improve technology integration in their schools, they just do not know how or where to begin. They realize that to promote meaningful technological changes, their teachers must be given opportunities to acquire the skills needed to use technology and then apply them in the context of the curriculum" (Multimedia Schools, 2003). "However, technology professional development is usually delivered by district-level personnel as "one-size-fits-all" workshops that focus on techniques for using software packages and management tools. These workshops often are not part of a cohesive improvement plan; thus, instructional changes are not adopted or sustained over time" (Janice M. Hinson, 2005). Teacher Evaluation is a very important practice that helps ensure this development among teachers. It is very important so that ineffective teacher evaluation systems are seen to be more costly than effective ones. (Sawa, 1995) This statement edifies the importance of a sound and truthful evalutation technique. A Brief History It has been known that the appraisal of teachers is as old as teaching itself (Sawa, 1995). However, formal teacher's evaluation was traced to have begun at the turn of the 20th century to about 1980 (Robert F. McNergney). It's history might be divided into three overlapping categories: (1) The Search for Great Teachers; (2) Inferring Teacher Quality from Student Learning; and (3) Examining Teaching Performance (Robert F. McNergney). "Arvil Barr's 1948 compendium of research on teaching competence noted that supervisors' ratings of teachers were the metric of choice. A few researchers, however, examined average gains in student achievement for the purpose of Inferring Teacher Quality from Student Learning. They assumed, for good reason, that supervisors' opinions of teachers revealed little or nothing about student learning. Indeed, according to Medley and his colleagues, these early findings were "most discouraging." The average correlation between teacher characteristics and student learning, as measured most often by achievement tests, was zero. Some characteristics related positively to student

750 to 800 Word Limit Final Assessment Paper to be done in APA format Essay

750 to 800 Word Limit Final Assessment Paper to be done in APA format - Essay Example Their duties include the safeguarding of the university charter; the implementation of performance evaluations; budget allocation and fundraising; the election or appointment of the university president; and the performance assessment and monitoring of the president. President/Chancellor – The University President generally ensures that the university is run properly and that the university’s standards are maintained and sustained; provides overall leadership to the university and its academic and non-academic departments; acts as the mediator between the board and the university administration; and is responsible for the public image of the university (Puss and Loss, 2009). Provost – Also called the Vice President for Academic Affairs, the provost is in charge of everything that relates to academics and student affairs like performance evaluations of professors and students and student disciplinary measures; ensures that the curriculum of every course is complete; works closely with the president; recommends curriculum changes and additions; and acts as the mediator between the academic community within the university and the administrative bodies (Puss and Loss, 2009; Lombardi, et al., 2002). Executive Vice Presidents/Vice Presidents – The various administrative duties of specific departments rest on the shoulders of the university’s vice presidents. They work in close contact with the provost and the president in order to discuss and resolve issues, like finance. Heads of Colleges – The heads of these various schools and colleges are responsible for ensuring the stability and he smooth running of operations in the specific college he or she is assigned to. These academic heads report to the provost to make recommendations on positive changes, as well as resolve issues within their respective colleges. Academic Deans – Academic

Effectiveness of Sports Psychology

Effectiveness of Sports Psychology With reference to published literature critically discuss the factors influencing the effectiveness of a sport psychologist Introduction Sport psychology has grown remarkably from its roots in the amorphous and poorly understood disciplines of athlete motivation and performance counselling 40 years ago (Dosil, 2005; Cox, 2005). Modern sport at every level of competition and in virtually every sporting activity has benefited from the application of psychological principles and mental training in the pursuit of maximum athletic performance, stress management, improved training attitude and every other aspect of sport where the mind, emotions and physical performance intersect. Sport psychology is unique amongst the applied psychology disciplines for a number of reasons. The phrase suggests that there are accepted common practices employed by sports psychologists and its is acknowledged as with any science, the baseline approaches to the education, training and certification of the sport psychologist are well understood across the world of sport and athletic competition. The feature of sports psychology practice that tends to differentiate it from other form of applied psychology is the general closeness of the relationships developed between an individual athlete and their psychologist. The common professional boundaries of professional detachment are different in sports environments where intense emotion and competitive desire are the fuel that both drives the athlete onwards and makes them vulnerable to psychological stresses. Many sport psychologists play a multi-dimensional role in the lives of their athlete clients trained professional psychologist, friend, sounding board, confidante and advisor are each possible and entirely ethical component to the relationships that may develop in practise (Watson, 2008, 1). This paper considers the question of effectiveness of the sports psychologist as considered within the following analytical and discussion framework. A detailed and properly academic analysis of why the science of sports psychology is effective in the context of competitive and recreational sport is beyond the scope of this paper. The discussion that is developed below is premised on the proposition that sports psychology is a proven and well accepted body of science that applied in accordance with its principles will generally benefit an athlete. All athletes in all sports, team and individualÂÂ   from cross country running to equestrienne events, in all age groups and genders are amenable to its benefits (Kornspan McCracken, 2003: 36: Donohue, 2001: 19). The important question in the present context is what factors, professional and personal render a sports psychologist successful in a particular application. Included in this discrete issue are a wide variety of potential eth ical considerations. The question requires that a preliminary working definition of sport psychologist be articulated; the definition as stated below also assists in defining the general areas of professional engagement within sport. The discussion will then engage two broad and interrelated questions: what steps sports psychologists take in any given assignment to achieve maximum effect with their athlete; where are the typical problem areas that require attention in the sports psychologist / athlete relationship? The emphasis of the discussion will be directed to Educational Sports Psychologists as this area of sport psychology provides the most immediate connections between athletic performance and the application of psychological principles. These questions also require consideration of the type of person who is more likely to succeed as a sports psychologist as with any professional activity where the subject is a human being, the delicate interface between the knowledge based psychological education that helps to comprise ones intellect and the often empathetic talent of dealing with people is important (Armstrong, 2001; Griffin, 2008:10). The paper draws upon the significant representative sampling of the authorities as appended to this paper in this regard. The paper concludes with some thoughts concerning the anticipated continued expansion of the sport psychologist role at all levels of sport. If these professionals have not already achieved such status in most sports, it is submitted that the progression observed in the relationship between athletes and sports psychologist will trace the progression from pop psychology to important training and coaching asset to an indispensible component of the training regimes and competitive performance of all serious athletes.ÂÂ   Sport Psychology definition and scope of the discipline The literal definition of sports psychology is a deceptively straightforward one. According to Cox (1998) and confirmed as accepted throughout the literature, sport psychology is a science in which the principles of psychology are applied in a sport or exercise setting (p.4). The definition does not depend on the presence of a professional relationship with elite or aspiring high performance athletes; the principles of sport psychology apply with necessary circumstantial modification to every level of athlete. In this paper, the term sport psychologist shall extend to any professional engaged in the psychology of sport or exercise (Douthitt Harvey, 1995: Griffin, 2008)). As a general proposition there are three different types of sport psychologists recognised in the field; a great deal of the work carried out by a sport psychologist may include work in more than one category in the case of a particular athlete or assignment. For the purposes of the discussions set out below, the boundaries between each sub discipline shall be regarded as relatively fixed. In the present discussion, it is assumed that each category member is a fully trained and accredited psychologist as defined by the relevant statue I their jurisdiction (British Psychological Society, 2009: American Psychological Society, 2009). The first category is the Clinical/Counselling Sport Psychologist (Cox, 2005).This person is trained in clinical or counselling psychology and is a licensed psychologist. These psychologists are trained to assist athletes to deal effectively with emotional and personality disorder issues that affect particular athletes. The range of prospective sport patients that this professional might assist is very broad; an example would include treating a female gymnast who suffers from bulimia or other eating disorder given the competitive pressures to perform at a specific weight. Treating a downhill skier of motorsports racer who has difficulties recovering from a particular crash or injury might be another. The second category is the grouping that includes the Educational Sport Psychologist (Cox, 2005; Kramer Moran, 2008). These psychologists come to sport with an extensive academic and practical background in university departments of physical education and sport specific training. The objective of an intervention or ongoing assistance provided by these individuals is to assist the athlete to develop a wide range of potential psychological skills for performance enhancement. Specific techniques such as various mental imagery sequences, self talk, the building of per performance or per competition routines are all included in the work carried out by the psychologists in this category (Morris Summers, 2004; Boyce King, 1993). These psychologists also provide services to athletes in a team environment. This particular definition also provides an important qualification concerning the general role of psychology in sport. Sport psychologists are not monopolists in this area. Many athletes have the benefit of psychological support as provided by a trainer, a position coach or a team manager (Kornspan Duve, 2006; Wilson Stephens, 2005). This element of sport psychology is very important but is excluded from consideration here. The final category is the Research Sport Psychologist. This group is comprised of scientists and scholars of sport psychologist. Theirs is an important support role to the entire discipline (Cox, 2005). Sport provides science with ongoing opportunities to gain access to athletes and teams in every sport from its preseason, in season and post season /off season periodization. The psychologists engage in ongoing research and experiments in the field. Applied sport psychology Applied sport and exercise psychology involves the extension of psychology theory and research into a specific field. While the particular athlete or team will inevitably attract the most attention in these applications, given that the pursuit of athletic excellence is a primary objective, the psychologist has a significant role to play in the education of any coaches, teammates, parents, fitness professionals, and athletic trainers about the psychological aspects of the specific sport or exercise activity. Applied sport and exercise psychologists seek to facilitate maximal involvement, performance, and enjoyment in any sport environment. The practice of applied sport and exercise psychology usually involves a combination of individual and group consulting or counseling depending on the style of the professional conducting the intervention and the needs of the client. The realty of amateur sport is that many athletes do not have the access or means to have a personal psychological consultant (Maclean Hamm, 2008: 352). Notwithstanding access questions, the principles that support a proper practitioner / athlete relationship are the same. Key Issues Sports psychologists face similar professional demands in areas such as continuing education and training. It is submitted that given the ceaseless commitment to athletic improvement, the development of new training techniques, nutritional and supplement approaches, physical monitoring, equipment trends and related factors places a substantial pressure on a sports psychologist to remain current in all aspects of their practice (Nesti, 2004). At its best articulation, sport psychology has a transformational power that elevates performance (Armstrong, 2001, 4). Experiential learning cycles are often at the heart of successful sport psychology practice, because sport performance typically provides immediate feedback as to the efficacy of the cycles developed for the athlete. Sport psychology encourages an intensely personalized approach to all facets of it application; a significant relationship exists between the personality of the practitioner and the effectiveness of the applications; the simple observation that not every psychologist can succeed in this area due to the limitations of their own personality is reinforced here. For even the most engaged and cutting edge practitioners, there are practical considerations to the discipline that are submitted as both constants and as overarching issues that never decline in their importance. These are discussed here under the general rubric of ethics; as the examples below illustrate, the boundaries between professional competence, the duty of care to the athlete, continuing education concerning best practices, and the maintenance of appropriate ethical standards in all matters involving an athlete or team are not always clear cut. It is important to appreciate that notwithstanding the unique demands of an individual sport or the immediacy that may be a part of the practitioner / athlete relationship, a psychologist remains bound by the statutory provisions and the ethical regulations of their jurisdiction. The various Codes of Conduct do not create separate regimes for the sports psychologist; the attention to the athlete relationship must be observed with the same care as patient relationships in clinical or therapeutic settings. It may be observed that in an elite sports team setting, where there is a large staff of professional sport persons that span a number of disciplines, only the team physician and the sport psychologist are liable to a standard of ethical conduct that extends beyond their contractual obligation to the team or the common law duties of care that might apply to a coach athlete or trainer athlete scenario (Nesti, 2004; Watson, 2008; Morris Summers, 2004). Ethical codes may be clearer c ut when the practitioners relationship is with a adult professional golfer or well paid footballer; the youth and overall potential for vulnerable persons to be working with a sports psychologist render the standard ethical duties very important in practice. One might conclude that given the acceptance of sport psychology as an important element of modern sport training and competition, that the more closely one could integrate physical and psychological, athletic training the more efficient the training over all and the more successful the athletic enterprise. Leaving aside the impossibility of installing combined coach / practitioners at every level of sport, a seeming next best option would be to ensure a close and centralised relationship between the athletic and psychological training programmes. There are clear advantages to such a coordinated approach. The training time required for each aspect would be optimized; the psychological training could be seamlessly integrated into every segment of the physical training routines. The trust implicit in the athlete / coach relationship could assist the athlete in overcoming any apprehension about what to them may be novel or disconcerting mental training approaches (Wright Erdal, 2008: 187). The disadvantages are equally stark and it is submitted that the maintenance of practitioner and coaching boundaries is important in several potential areas of difficulty. Where the coach and the psychologist are working very closely together in a team sport environment, there is the concern that the athlete may be apprehensive about confiding in the psychologist or making a complete commitment to a psychological training programme for fear of any mental / emotional weakness being revealed to the coach and thus compromising playing time or status on the team (Watson Clement, 2008, 3). The relationship between psychologist and athlete, like coach and athlete is inherently a power relationship; the knowledge that the practitioner applies to the psychological aspects of training create a dependency that must not be permitted to influence any other relationships that the athlete has.ÂÂ   As Nesti notes (2004), the task facing the practitioner is to simultaneously maintain openness to the athletes and coaches without abandoning or diluting their most personal and deeply held values. This makes considerable demands upon the psychologist working in a sports environment where the dominant values are those centred on self-preservation and material gain.(102) The ethics rubric takes on a further and more complex dimension when a team or sports organisation retains a sport psychologist to provide training. The ethical duties and their corresponding lines can become blurred. The following hypothetical will illustrate the issue. A sport psychologist is retained by a football team to help develop what the coach describes as mental toughness (Wann Polk, 2007).ÂÂ   The coach wants his players to be more aggressive, more truculent and more physical in their approach to the game Im tired of our guys getting pushed around. It may be readily appreciated that there is a thin almost indiscernible boundary between the coachs toughness and a training programme that may as easily promote rough, violent or anti-social attitudes amongst the players. The coach is determined to take newfound toughness instilled in the mental training regime to a new competitive level. The psychologist is now placed in a difficult position to train as the clubs retai ner requires, or to potentially assist in the promotion of emotional attitudes that are not necessarily in the individual athletes interest (Goldstein Iso-Ahola, 2006). The sports psychologist has an important preventative / restorative role in all aspects of athletic training. Burnout is a psychological problem at every level of competitive sport, youth leagues to the professional ranks. (Kalliath Beck, 2001; Matheson, Mathes Murray, 1997) The same fundamental trust relationship between practitioner and athlete that build mental power in sport must also be applied where appropriate to protect if an athlete is not emotionally suited to a particular type of training a practitioner has a positive ethical obligation to discontinue it, no matter who is paying for the services. Future Directions in Sport Psychology It is impossible to provide a definitive conclusion as to the future direction of sport psychology within the framework of this paper. However, two tentative propositions may be advanced. The first is a predicted even greater reliance by elite athletes on sport psychologists to provide them with support in training and competition. Every athlete in every sport seeks the proverbial edge, so often measured in millimeters or milliseconds. In an era of immense potential financial returns for sport success, a sports psychologist is a cost-effective training aid. The second prediction is connected to the development of the discipline itself. Competitive athletes are result driven; for society as a whole, there are fewer ways to empirically measure societal athletic or sport exercise success. The cost of health care as attributed to poor life style choices and sedentary attitudes may militate in favour of a public push to incorporate sports psychologists into the public health mainstream, on the same cost effectiveness rational as observed in elite sports. Works Cited American Psychological Association Ethical Principles of Psychologists and Code of Conduct (2009) [online] Retrieved November 18, 2009 at: Armstrong, Scott. Are You a Transformational Coach? JOPERDThe Journal of Physical Education, Recreation Dance 72.3 (2001): 44 British Psychological Society Ethical Guidelines (2009) [online] Retrieved November 21, 2009 at: Boyce, B. Ann, and Valerie King Goal-Setting Strategies for Coaches JOPERDThe Journal of Physical Education, Recreation Dance 64.1 (1993): 65+. Questia. Web. 24 Nov. 2009. Cox, Richard H. Sport Psychology: Concepts and Applications (5th ed.) Toronto: McGraw Hill (2005) Donohue, Brad, et al. The Development and Initial Evaluation of Two Promising Mental Preparatory Methods in a Sample of Female Cross Country Runners. Journal of Sport Behavior 24.1 (2001): 19 Dosil, Joaquin, ed. The Sport Psychologists Handbook: A Guide for Sport-Specific Performance Enhancement Chichester, West Sussex: John Wiley Sons, (2005) Douthitt, Vicki L., and Mark L. Harvey Exercise Counseling How Physical Educators Can Help JOPERDThe Journal of Physical Education, Recreation Dance 66.5 (1995): 31 Goldstein, Jay D., and Seppo E. Iso-Ahola Promoting Sportsmanship in Youth Sports: Perspectives from Sport Psychology; Sport Psychology Provides Crucial Insights for Improving Behavior in Sport. JOPERDThe Journal of Physical Education, Recreation Dance 77.7 (2006): 18 Griffin, Joy. Sport Psychology: Myths in Sport Education and Physical Education Sport Psychology Isnt Just for the Elites; It Can Benefit Everyone in Youth Sports and Physical Education. JOPERDThe Journal of Physical Education, Recreation Dance 79.8 (2008): 11 Kalliath, Thomas J., and Alexandra Beck Is the Path to Burnout and Turnover Paved by a Lack of Supervisory Support? A Structural Equations Test New Zealand Journal of Psychology 30.2 (2001): 72 Kornspan, Alan S., and Mary J. McCracken The Use of Psychology in Professional Baseball: The Pioneering Work of David F. Tracy. Nine 11.2 (2003): 36 Kornspan, Alan S., and Michael A. Duve A Niche and a Need: A Summary of the Need for Sport Psychology Consultants in Collegiate Sports. Annals of the American Psychotherapy Association 9.1 (2006): 19 Kremer, J., Moran, A. P. Pure Sport: Practical sport psychology. London: Routledge (2008) Maclean, Joanne, and Shannon Hamm Values and Sport Participation: Comparing Participant Groups, Age, and Gender. Journal of Sport Behavior 31.4 (2008): 352 Matheson, Hilary, Sharon Mathes, and Mimi Murray The Effect of Winning and Losing on Female Interactive and Coactive Team Cohesion Journal of Sport Behavior 20.3 (1997): 284 Morris, T., and Summers, J., eds. Sport psychology: theory, application and issues (2nd Ed.). Chichester: Wiley (2004) Nesti, Mark. Existential Psychology and Sport: Theory and Application. New York: Routledge, 2004 Wann, Daniel L., and Joshua Polk The Positive Relationship between Sport Team Identification and Belief in the Trustworthiness of Others North American Journal of Psychology 9.2 (2007): 251 Wilson, Marcia A., and Dawn E. Stephens Great Expectations: How Do Athletes of Different Expectancies Attribute Their Perception of Personal Athletic Performance? Journal of Sport Behavior 28.4 (2005): 392 Watson, Jack C and Damien Clement Ethical and Practical Issues Related to Multiple Role Relationships in Sport Psychology (2008) [online] Retrieved November 22, 2009 at: Wright, Perry B., and Kristi J. Erdal Sport Superstition as a Function of Skill Level and Task Difficulty Journal of Sport Behavior 31.2 (2008): 187

Structural Engineering Mishaps and Disasters :: essays research papers

Structural Engineering Mishaps and Disasters Hindenburg: An Unnecessary Disaster   Ã‚  Ã‚  Ã‚  Ã‚  In the 1930s airships, better known today as â€Å"blimps†, were the main source of air travel. During this time, the airships were used for various different reasons such as: bombing enemy targets, patrolling coastal areas, escorting naval ships during the night or through unsafe bodies of water, or used to make luxury flights across the Atlantic. The Hindenburg was believed to be the biggest and most sophisticated aircraft ever built.   Ã‚  Ã‚  Ã‚  Ã‚  The Hindenburg was built with metal framework and balloon like covering. It was as long as three football fields and weighed more than 240 tons. This airship looked ravishing, however, it possessed a significant flaw that eventually caused it to ruin. The outer skin of the Hindenburg was filled with hydrogen, which is extremely flammable. Passengers preparing to board the aircraft had to remove all lighters, matches, and/or any other objects that would cause it to catch fire.   Ã‚  Ã‚  Ã‚  Ã‚  Traveling all the way from Europe, the Hindenburg was expected to arrive in the United States and land in New Jersey on May 6, 1937. Max Pruss was commander, there were thirteen passengers, and twenty-two crew members on board . Hundreds of people waited for the Hindenburg, including: relatives of the passengers, news reporters, photographers, New Jersey citizens, and ninety-two ground crew members.   Ã‚  Ã‚  Ã‚  Ã‚  The flight’s landing was slightly delayed due to thunderstorms and aggressive winds. Finally, the weather calmed and the Hindenburg airship began to land in Jersey. One of the spectators noticed a pale pink glow in the lower center of the ship. Everyone began to become intense because they had a feeling that the glow was not suppose to be there. A few seconds later that section of the airship exploded! All the onlookers, of course, backed away rapidly, but were still close as the entire Hindenburg airship, and mostly all of its passengers caught fire.   Ã‚  Ã‚  Ã‚  Ã‚  Some parts of the Hindenburg did, in fact, remain together, but they are only preserved today for research. One of the passengers aboard the flight, a fourteen year old, climbed through a window trying to escape the fires of the airship. To his advance, one of the water tanks burst and the flames on his clothes and his body were extinguished.   Ã‚  Ã‚  Ã‚  Ã‚  The U.S Bureau of Air Commerce gave the following statement as an explanation of the explosion. â€Å"A small amount of explosive mixture (hydrogen) in the upper part of the ship could have been ignited by†¦{an} electric phenomenon like a ball of lightning.

The Telephone

The Telephone â€Å"Before the telephone came to Magdaluna, Im Kaleem’s house was bustling at just about any time of day, especially at night, when its windows were brightly lit with three large oil lamps, and the loud voices of the men talking, laughing, and arguing could be heard in the street below—a reassuring, homey sound† Anwar F. Accawi (p. 46). It’s hard to imagine that a single device such as the telephone, albeit a breakthrough in technology, could change not only a person’s day to day life, but an entire village.These men in the village experienced all of the luxuries the village had to offer at no cost, Im Kaleem provided the men with a place to gather for conversation, games, drinks and sexual services. The children used to hang around Ima Kaleem’s courtyard playing games waiting for a call down from some of the men requesting errands in exchange for money.But that all changed once the telephone was installed, most of the men wou ld now sit at Abu Raja’s store, â€Å"they were always looking up from their games and drinks and talk to glance at the phone in the corner, as if expecting it to ring any minute and bring news that would change their lives and deliver them from their aimless existence†. (p. 46) Exposure to the telephone not only affected the men in the village, but it also affected the women, children and their entire way of life.I get very excited to hear about, read about or experience new technology, and I grew up surrounded by a constant emergence of technology, from pagers and cell phones to the home pc. I remember when we bought our first computer, they were just becoming a common household device, my dad came home from the store and asked me to hold the door open while he trucked in these huge boxes, I had never seen my dad so excited about struggling and sweating while moving things in the house.I had no idea what was in those boxes, but I became curious and excited as my dad opened the boxes and removed all the packaging, taking everything out piece by piece. Watching my dad fumble around with the instructions and all the wires in anticipation of something big happening made me super excited and I had no idea what this even was. â€Å"You can do almost anything you can imagine with this thing† he said to me in a very animated voice. To me it just looked like a television sitting on a desk, I started to become bored of watching this spaghetti of wires get connected one at a time at a very agonizing pace.My dad was determined and after what seemed like hours of running back and forth between the wires and the instructions, he looked over at me with a huge smile on his face as he powered the computer on. â€Å"I’m finished† he exclaimed, â€Å"now let’s see with this thing can do† he said. He wasn’t kidding, this was amazing, you could send electronic mail that could be opened by the other person instantly, you cou ld listen to music, instant message, play games with someone from another country, it seemed that there was nothing this device could not do. It was limitless with opportunity and could take you anywhere your imagination would allow.So I am not surprised that when this tiny village, that did not have the simple things in life such as a calendars, clocks or even running water, were so influenced by the arrival of the telephone. This gave the people new hopes and dreams, it gave them an opportunity to experience new things and find out what the outside world was doing and could offer. â€Å"Within a year, only the sick, the old, and the maimed were left in the village. Magdaluna became a skeleton of its former self, desolate and forsaken, like the tombs, a place to get away from†. Anwar F. Accawi(p. 7) The calls eventually came in as expected and people started leaving the village for new opportunities, some went into the army while others went to explore new jobs. All of them left looking for a better life than the one they had in the village. With new technology comes new opportunity, I’m not saying that newer is always better, but it can open you up to things you never thought possible. It can provide you with choices that you never had before. I believe in the end Accawi was happy with the way his life turned out but reminisced of how he loved his life as a young boy in the village.

Qilinâ€The Chinese Unicorn

Qilin- The Chinese Unicorn The qilin or Chinese unicorn is a mythical beast that symbolizes good luck and prosperity. According to tradition in China, Korea, and Japan, a qilin would appear to signal the birth or death of a particularly benevolent ruler or sage scholar. Because of its association with good luck, and its peaceful, vegetarian nature, the qilin is sometimes called the Chinese unicorn in the western world, but it does not particularly resemble a horned horse. In fact, the qilin has been depicted in a number of different ways over the centuries. Some descriptions state that it has a single horn in the middle of its forehead- hence the unicorn comparison. However, it may also have the head of a dragon, the body of a tiger or a deer, and an oxs tail. The qilin is sometimes covered with scales like a fish; at other times, it has flames all over its body. In some tales, it can also spout flames from its mouth to incinerate evil people. The qilin is generally a peaceful creature, however. In fact, when it walks it steps so lightly that it doesnt even bend down the grass. It can also walk across the waters surface. History of the Qilin   The qilin first appeared in the historical record with the Zuo Zhuan, or Chronicle of Zuo, which describes events in China from 722 to 468 BCE. According to these records, the first Chinese writing system was transcribed around 3000 BCE from the markings on a qilins back. A qilin is supposed to have heralded the birth of Confucius, c. 552 BCE. The founder of Koreas Goguryeo Kingdom, King Dongmyeong (r. 37-19 BCE), rode a qilin like a horse, according to legend. Much later, during the Ming Dynasty (1368-1644), we have solid historical evidence of at least two qilin showing up in China in 1413. Actually, they were giraffes from the coast of Somalia; the great admiral Zheng He brought them back to Beijing after his fourth voyage (1413-14). The giraffes were immediately proclaimed to be qilin. The Yongle Emperor was naturally extremely pleased to have the symbol of wise leadership show up during his reign, courtesy of the Treasure Fleet. Although traditional depictions of the qilin had a much shorter neck than any giraffes, the association between the two animals remains strong to this day. In both Korea and Japan, the term for giraffe is kirin, or qilin. Across East Asia, the qilin is one of the four noble animals, along with the dragon, the phoenix, and the tortoise. Individual qilin are said to live for 2000 years and can bring babies to deserving parents much in the manner of storks in Europe. Pronunciation: chee-lihn

The 5 Conservative Women Most Likely to Become President

The 5 Conservative Women Most Likely to Become President Four women are early frontrunners to be part of a 2016 presidential ticket. As voters and the media continue to obsess over the next first in national electoral politics, these four Republican women make a strong case to be part of such a ticket. The Democrats will likely throw down with failed First Lady-turned-Failed-Senator-turned-failed-Secretary-of-State Hillary Clinton. But Republicans have a diverse group of candidates with compelling stories and strong records of success. Condoleezza Rice Many had hoped that the former Secretary of State and National Security adviser would have been Mitt Romneys pick in 2012. Though she was passed over for Paul Ryan, Condi Rice remains popular with Republican voters and the general public at-large. She was easily the most well-regarded figure in the George W. Bush administration. Rice would have seemed an unlikely selection prior to 2012 as many within the Republican Party stepped back and re-evaluated their foreign policy thinking. But after watching the isolationist, weak, indecisive and rogue foreign policy decisions of the Obama administration, a candidate Rice is starting to look quite appealing. With Russia, Iran, China, Iraq, Afghanistan, Syria, and ISIS being a much bigger issue now than they were in 2008 and 2012, Rices experience and knowledge could not be matched by many others. And as almost none of the frontrunners for the Republican nomination have any in-depth foreign policy experience, she could provide that in a year where it will matter. And if Hillary were to be the Democratic nominee in 2016, who better to explain the world as it was left to Hillary, and the world Hillary let it become? Seeing Rice picked as Jeb Bushs running-mate is no stretch given her ties to the family. But she could also be a compelling pick for Rand Paul, someone who clearly has a different foreign policy perspective but who is a candidate who needs to satisfy the concerns of foreign policy conservatives. It would be an interesting and compelling ticket. It could be an unexpectedly brilliant ticket as well. [Potential: Vice-Presidential Nominee] Nikki Haley The Governor of South Carolina should cruise to second term in 2014.   By 2016, she will have 6 years of executive experience on her resume that includes a solid record of job creation and a drastic reduction in the unemployment rate. She has worked tirelessly to improve the business climate of the state and attract major businesses to relocate. Should she run for President, she would also have the clear upper-hand in the South Carolina primary, one of the 4 premier battlegrounds with a designation as the first-in-the-south contest. She is the daughter or Indian immigrants and her husband did a full-year tour in Afghanistan in 2013. She also appointed the popular Tim Scott to the US Senate seat vacated by Jim DeMint. [Potential: Presidential or Vice-Presidential Nominee] Susana Martinez The Governor of New Mexico makes sense as a Presidential of Vice-Presidential pick for many reasons. She is a female Latina Governor in a world obsessed with checking off boxes of firsts, and she would be a two-for-one deal. But beyond the identity politics, Martinez has proven a practical and tough figure. Her electoral accomplishments have come in New Mexico, a bluish-purple state that voted for President Obama in 2008 and 2012 by double-digit margins, proving she has broad appeal. As the GOP struggles to convince minority and women voters to give the Republican Party a chance, Martinez is a pretty effective voice in that regard: Martinez was a Democrat who shifted to the Republican Party after being personally convinced that her states values were conservative ones. Its an argument that Republicans will need if they want to broaden their support base. [Potential: Presidential or Vice-Presidential Nominee] Carly Fiorina Fiorina has never held political office, but the first female CEO of a Fortune 50 company proved to be a very smart and disciplined politician in her 2016 run for President. Conservatives took to Fiorinas aggressive style, but she never had a base to draw from with a dozen other established candidates in the field. However, look for her to be a top option for US Senator Ted Cruz if he somehow upends Trump for the GOP nomination in 2016. Kelly Ayotte The US Senator from New Hampshire will be up for re-election in 2016. This presents a problem for her and many other Republicans from the 2010 Senate class such as Rand Paul, Marco Rubio, Rob Portman, and Ron Johnson: to run for re-election in a tough state; quit and run for President; or do both. So far, only Rand Paul has indicated that he wants to both run for President and re-election to the US Senate. Unlike the other candidates, his Senate seat will likely not be competitive so it is less of an issue. For Ayotte, doing both is not practical and she would be a long-shot as a Presidential contender in such a crowded field. But as a VP prospect she brings a lot to the table. She is a fairly popular US Senator and the only female contender with Northeastern credentials, an geographic region of struggle for Republicans. However, she lacks the foreign policy experience of Dr. Rice and the executive experience of Haley and Martinez, so her selection could appear more optics than exper ience. [Potential: Presidential or Vice-Presidential Nominee]

South Koreas Economic Indicators and Recent Growth Rate Assignment

South Koreas Economic Indicators and Recent Growth Rate - Assignment Example The growth theory places emphasis on increasing government expenditure, net exports (exports-imports) and investments which are obtained from savings. South Korea’s GDP growth levels can be traced to its increase in export levels, investment levels, and government expenditure. Therefore, the growth theory matches quite well with the economic development and growth in South Korea and its contributing factors-investment, exports and government expenditure. Rapid growth levels coincide with extensive government interventions on the economy. Economic and political policies were geared towards a free capitalistic economy with little government interference except in adjusting externalities resulting from the market failure. The political structure was also adjusted in order to support a capitalistic economy. Investment in human capital refers to investing in nutrition and health, schools and higher education, investment in children, migration, fertility rates, infant mortality rates and maternal healthcare. For example, by analyzing the infant mortality rates or literacy levels of the population, there is a clear positive correlation between an increase in the levels of literacy and infant mortality and an increase in GDP. Investing in children is particularly crucial for long-term economic growth and development of any country. Investment in human capital plays an integral role in any country’s economic growth and development. From the data, it is easy to identify the correlation between GDP and initial human and physical capital. Therefore, countries with greater human capital have greater economic growth Ceteris Paribas. The high human and physical capital levels determine the productivity levels of South Korea.

How is the AIS (automatic identification system) effective in Kuwait Thesis

How is the AIS (automatic identification system) effective in Kuwait coast guard operation - Thesis Example These systems, particularly the AIS Class A, have provided a wide range of benefits such as effective vessel identification and the provision of accurate information to national security forces and the Vessel Traffic Management Systems, or VTMS. Moreover, the application of ship-to-ship AIS has become an increasingly valuable option for mariners to be used as an efficient instrument that will improve situational awareness (Norris 2006). Regulations to utilise AIS in all vessels fall under the international standards of improving the safety and security among maritime transporters through the provision of information regarding locations and vessel identities. Aside from national security, the AIS can also make its contribution to environmental protections and procedures that require the rescue of vessels vulnerable to threats or attacks (Norris 2006). 1.2 The Role of Kuwaiti Coast Guard Kuwait remains to be a small country that holds a strategic position, increasing its vulnerability. It is surrounded by Iran, Iraq, and Saudi Arabia and is easily within a short distance of missile range from its three major neighbors (CS 2010). Due to Kuwait’s considerable wealth and large oil reserves as well as a lack of safe and secured routes for oil exports, it has become a target for the surrounding countries. Maritime boundaries with Saudi Arabia, Iran, and Iraq have been an important concern for Kuwait, with the country encountering numerous maritime attacks over the years, particularly from Iran and Iraq (Knights 2005). Despite perceiving the hostility of Iraq and other neighboring countries, in 2008, the Kuwait’s naval forces signed the Khawr Abd Allah Protocols, or the KAA Protocols, which referred to a maritime bilateral military agreement for the coordinated use of the KAA waterway and acquire security and stability. Although Kuwait has established defense agreements with United Nations Security Council members and has utilised procurement programmes i n reinforcing these associations, the security of Kuwait has highly relied upon the US and has received from $3 million annually as financial assistance to combat terrorist attacks and meet other security objectives, with the Navy and its coast guards as part of such sanctions. This has allowed units to develop technologies through research and development programmes such as the detection and identification of incoming maritime irregularities (CS 2010). The Kuwaiti Navy includes an estimate of 2,700 personnel including 500 coast guards with its limited naval forces focusing on the protection of their coastline, support of customs, and implementation of missions against infiltration. The Kuwaiti Navy had been established immediately after Kuwait became fully independent from Britain (CSIS 2006). During the Persian Gulf War, the country’s military defenses were highly dependent on foreign contractors to provide their training, logistics, maintenance, and actual operations; cons equently, the readiness of the Navy and the rest of Kuwait’s defenses were at a poor level. At present, their equipment includes fast attack crafts, support ships, special operations patrol boats, interceptor crafts, diving support vessels, hydrographic support vessels and harbor tugs (CIA 2006). Tracking methods have also been emphasized to provide geographical information along

Managing Decision Making Assignment Example | Topics and Well Written Essays - 1000 words

Managing Decision Making - Assignment Example    Literature Review & Summary of Research Findings- Simon's Model of Decision According to classical decision making theory, individuals need to gather information regarding the emergent issue, then search for plausible alternativeness which can be used in order to address the issue and then select the most optimal alternatives (Bechara and Damasio, 2005). But, Simon (1979) criticized the classical decision making approach by stating that model doesn’t correspond with real world decision dilemmas. One needs to understand the key steps in Simon’s decision making model in order to criticize or appreciate it in context to research works of different research scholars. Bechara and Damasio (2005) stated that there are three phases in Simon’s decision making model such as, 1- intelligence phase, 2- design phase and 3- choice. Intelligence Phase- in the intelligence phase, individuals formulate the problem or decision statement by comparing the current process status with historical data or reference points. In this phase, individuals gather information from external environment without knowing exact outcome of such information crunching. Design Phase- in this phase, individuals try to formulate the probable alternatives to address the decision statement by considering the gathered information from macro environment. Decision makers need to analyze the information collected from external environment in order to generate alternative approach to the problem statement. Choice- in this phase, individuals select the most feasible alternative in order to address the decision problem or take decision. Important thing to remember that, the most potential alternative to the decision problem might not be the most feasible one hence decision makers must take care while selecting potential choice. There is no doubt that Simon’s decision model is based on the concept of bounded rationality. Simon (1979) pointed out that rational decision making becom es difficult due to various reasons such as lack of knowledge about all the alternatives, uncertain events, inability to calculate consequences, lack of knowledge about the consequence of particular decision, human behavioural limits etc. Due to such shortcomings, rationality of any decision making is subjected to be bounded hence a decision cannot be optimized. Sent (2005) supported the bounded rationality model of Simon and stated that although rationality might be the goal for decision making but ability of the decision maker is limited due to cognitive (such as personal values, lack of computational ability, reflexes and lack of knowledge) as well as exogenous factors (uncertainty regarding the outcome of decision). DellaVigna (2009) stated that the concept of bounded rationality is very much pertinent in context to modern day business problems while Bromiley (2005) appreciated decision making model of Simon for its usability in investment decision making and behavioral economic s. However, there are other group of research scholars such as Campitelli and Gobet (2010) and Levinthal (2011) who criticized Simon’s decision making model for lacking in depth. Levinthal (2011) stated that decision makers need to create representation in explicit or implicit manner while making deductive reason