Case StudyCredit Essay

Introduction In the case study honesty testing at the Carter Cleaning Company, there are issues of theft. They find themselves struggling with the processes of screening for honest hardworking employees. The owners, Jennifer and her father, are looking for a way to minimize the employee turnover and more so is theft prone. Questions and Answers to the Questions What would be the advantages and disadvantages to Jennifer’s company of routinely administering honesty tests to all its employees? According to Dessler (2008), some advantages are that honesty tests are â€Å"designed to predict job applicants’ proneness to dishonesty and other forms counterproductivity. Most of the tests measure attitudes regarding things like tolerance of others who steal, acceptance of rationalizations for theft, and admission of theft-related activities (p. 236).† These types of test prove to have minimal legal risk to employers (p.237). Specifically, what other screening techniques could the company use to screen out theft-prone and turnover-prone employees, and how exactly could these be used? Dessler mentions the use of background checks such as verifying a potential candidate’s former employer is a way to clear a candidate by knowing about their work ethics. Another way would be through credit reports. These types of reports show a potential candidate’s â€Å"credit standing, indebtedness, reputation, character, and lifestyles (p. 230).† How should her company terminate employees caught stealing, and what kind of procedure should be set up for handling reference calls about these employees when they go to other companies looking for jobs? Employees should be terminated immediately. In order to help other companies, there should be a procedure such as writing everything down or making notes in the employee’s folder for all future references. Future  employees would be advised of such procedure during the interviewing process. Fine (2013) states â€Å"Once the right test has been chosen, and with the organization’s objectives still in mind, the next step is to strategically position the test within the recruitment process for maximal effectiveness (p. 42).† Summary As seen in the case of the Carter Cleaning Company, employee turnover is a problem. In order to minimize such problems there needs to be an effective hiring procedure. Dessler speaks of antitheft screening procedure. They are asking direct question during face-to-face interviews, listen to applicant and do less talking (this will allow the applicant to speak freely and through this they may speak more truthfully), do a credit check, check all employment and personal references, use paper-and-pencil honesty tests and psychological tests, test for drugs, and establish a search-and-seizure policy and conduct searches (p. 237). Reference Dessler, G. (2008). Human Resource Management. Upper Saddle River, NJ. Pearson Prentice Hall. Fine, S. (2013). Practical Guidelines for Implementing Preemployment Integrity Tests. Public Personnel Management, 42(2), 281-292. doi:10.1177/0091026013487049. Lee, K., Ashton, M. C., & de Vries, R. E. (2005). Predicting Workplace Delinquency and Integrity with the HEXACO and Five-Factor Models of Personality Structure. Human Performance, 18(2), 179-197. doi:10.1207/s15327043hup1802_4.

Balance Scorecard Essay

Develop the strategic objectives for your business in the format of a balanced scorecard. The strategic objectives are measures of attaining your vision and mission. As you develop them consider the vision, mission, and values for your business and the outcomes of your SWOTT analysis. Consider the following four quadrants of the balanced scorecard when developing your strategic objectives: Shareholder Value or Financial Perspective, includes strategic objectives in areas such as: Market share Revenues and costs Profitability Competitive position Customer Value Perspective, includes strategic objectives in areas such as: Customer retention or turnover Customer satisfaction Customer value Process or Internal Operations Perspective, includes strategic objectives in areas such as: Measure of process performance Productivity or productivity improvement Operations metrics Learning and Growth (Employee) Perspective, includes strategic objectives in areas such as: Employee satisfaction Employee turnover or retention Level of organizational capability Nature of organizational culture or climate Technological innovation Develop at least two strategic objectives for each of the following four balanced scorecard areas identified above (Financial, Customer, Process, Learning and Growth). Your objectives should be selected, in part, based on an evaluation of a number of potential alternatives to the issues and/or opportunities identified in the SWOTT Analysis paper and table you completed in Week Three. Base your solutions on a ranking of alternative solutions that i†¦ Get complete A+ tutorial here – https://bitly.com/12C4Fhk If you have a hard time with schedules, try using routines. Schedules generally involve plans that are timed, while routines are generally habitual procedures. If scheduling doesn’t work for you, try implementing a routine with basic guidelines. They don’t need to be done in a particular order or at specific times, but they can be used to make a list for completing your daily tasks. Business – Management Individual Strategic Plan, Part III: Balanced Scorecard Resource: Exhibit 7-1 in Ch. 7 of Strategic Management Develop the strategic objectives for your business in the format of a  balanced scorecard. The strategic objectives are measures of attaining your vision and mission. As you develop them consider the vision, mission, and values for your business and the outcomes of your SWOTT analysis. Consider the following four quadrants of the balanced scorecard when developing your strategic objectives:  · Shareholder Value or Financial Perspective, includes strategic objectives in areas such as:   Market share   Revenues and costs   Profitability   Competitive position  · Customer Value Perspective, includes strategic objectives in areas such as:   Customer retention or turnover   Customer satisfaction   Customer value  · Process or Internal Operations Perspective, includes strategic objectives in areas such as:   Measure of process performance   Productivity or productivity improvement   Operations metrics  · Learning and Growth (Employee) Perspective, includes strategic objectives in areas such as:   Employee satisfaction   Employee turnover or retention   Level of organizational capability   Nature of organizational culture or climate   Technological innovation Develop at least three strategic objectives for each of the following four balanced scorecard areas identified above (Financial, Customer, Process, Learning and Growth). Your objectives should be selected, in part, based on an evaluation of a number of potential alternatives to the issues and/or opportunities identified in the SWOTT Analysis paper and table you completed in Week Three. Base your solutions on a ranking of alternative solutions that includes an identification of potential risks and mitigation plans, and a stakeholder analysis that includes†¦

Hrm Assessment

â€Å"(HRM is) a strategic approach to managing employment relations which emphasizes that leveraging people’s capabilities is critical to achieving sustained competitive advantage, this being achieved through a distinctive set of integrated employment policies, programmes and practices. † (John Bratton / Jeffrey Gold; Human Resource Management Theory And Practice, 2003) Although the terms Human Resource Management and Personnel Management are commonly used interchangeably, research has shown there are substantial differences between the two.Personnel Management focuses more on the management of employees and dealing with administrative tasks such as employment laws, contractual obligations and the payroll of the company, encompassing the range of activities to do with managing the workforce rather than resources. Human Resource Management takes a strategic approach to the overall management of not only workers, but their workplace and environment, focusing on aspects s uch as the safety, wellness, benefits, motivation, development and organization of employees.It can be said that Personnel Management is workforce centered; being largely about mediating between management and employees, while Human Resource Management is resource centered; concentrating on the planning, monitoring and control aspects of resources. There are four major stages in the evolution of Personnel and Human Resource Management as we know it today; social justice human bureaucracy consent by negotiation organization and integration Social justice Social justice was the budding stage in Human Resource Management, dating back to the 19th Century, when the work of social reformers such as LordShaftesbury and Robert Owen led to the appointment of the first personnel managers. Lord Shaftesbury was the leader of the Factory Reform Movement in the House of Commons and a key contributor to the Factory Act of 1847, which minimized the working hours of woman and children in factories t o 10 hours per day and made it illegal for kids under the age of 9 to be employed in textile factories. Robert Owen was a social reformer of the Industrial Revolution, who assisted the working class of England by helping ease labour hours and conditions, and the use of child labour. He also assisted in the employment standards of England.By the late 19th and early 20th centuries, some large employers started appointing welfare officers to manage new initiatives designed to make life easier for their employees, leading to higher productivity, improved retention of the workforce, and more applicants for each job. Notable welfare initiatives promoted by employers today include employee assistance schemes, childcare facilities and health-screening programmes. Human bureaucracy The term â€Å"bureaucracy† means â€Å"rule by office†. Bureaucracy is an organizational form used by sociologists and organizational professionals.The Industrial Revolution contributed to the devel opment of bureaucracies, and modern bureaucracy emerged around 1850. In the 1930's, German sociologist, Max Weber, studied new forms of organization being developed to manage large numbers of people in complex activities, his studies and work led to the popularization of the term. He discussed topics such as uniform principles, structure and hierarchy, merit system and specialization of job-scope. Weber described many ideal types of public administration and government in his work and many aspects of modern public administration go back to him.His research showed that large scale organizations were similar in specific ways and shared many similar features, concluding that each was a bureaucracy. Webster described bureaucracy as being the ideal way of organizing government agencies, and key in the continuing rationalization of western society. Websters principles were used throughout public and private sectors. He noted seven major principles; specification of jobs with detailed righ ts, obligations, responsibilities and scope of authority, system of supervision and subordination, unity of command, xtensive use of written documents, training in job requirements and skills, application of consistent and complete rules, assign work and hire personnel based on experience Another concept found largely in Weber's theories is rationalization, a process into which a person enters and applies practical knowledge to achieve results. While Webster believed bureaucracies were well organized machines that could accomplish any goal, he also noted disadvantages, one being that power shifted to only those individuals at the top, and could result in monocracy.Weber also discussed authority and sought to learn what gave power to an individual to be able to claim authority over another, such as man over woman. The success that bureaucracy produced during the industrial revolution and up to the late twentieth century, makes it the most relevant type of organisation for such indust ries. Weber's thoughts on bureaucracy have influenced modern thinking and many still hold true. The main ideas of his seven principles are still relevant to many bureaucracies that exist, making Weber a truly innovative thinker, who continues to influence society and business today. Consent by negotiationNegotiation means bargaining between two or more parties, each with its own aims, needs and views, seeking to discover a common ground and reach an agreement to settle a matter of mutual concern or resolve a conflict. Consent by negotiation helped develop Human Resource Management between the years 1935 and 1950, when a large increase in union membership in the United States drew more emphasis on labour relations and collective bargaining within personnel management. The importance of aspects such as compensation and benefits also increase, as unions negotiate paid holidays, vacations, and insurance coverage.HRM practices in firms are still regularly influenced by Unions. Companies which are unionized have to follow contracts which have been negotiated between the company and its union. These contracts control many HRM practices, including promotion, grievances, discipline, and overtime. Firms which aren't unionized can also be influenced by the threat of unions. For example, some companies make their Human Resource Management practices more equitable, treating workers more fairly, to avoid the chance of union representation by employees.Organization and integration The integrated phase of human resource management dates to the early 1970's to 1980's. In this period, it was focused on changing environment, such as individual experts in organization, specific areas, recruitment and training. In the late 60's, there was a change in focus among personnel specialists, from dealing mainly with the rank-and-file worker on behalf of management, to dealing with management itself and the integration of managerial activities.The development of career ladders and opportu nities for personal growth within organizations characterised this phase. â€Å"As the 1960's and 1970's unfolded, a more personable group of managers emerged, and their interest in people and feelings influenced all facts of business, including the growth of market research, communications and public relations. This group of managers, emphasized the relationship between employers and employees, rather than scientific management. Programs to increase wages and fringe benefits continued to be developed.New studies linked greater productivity to management philosophies that encouraged worker ideas and initiatives† (Losey, 2010, online) Opportunities for personal growth is still a concern of personnel managers to this day, with time and resources being spent on the recruitment and development of people who obtain expertise which the future of the business. Workforce planning and manpower techniques have also been developed by Personnel managers, focusing on the conceivable need for employees with various skills in the future.

Planning and assessing Essay Example | Topics and Well Written Essays - 2000 words

Planning and assessing - Essay Example tion criteria of the best learners, provide a mechanism of evaluation of learners through a given program and motivate and encourage the learners in their undertaking (Armitage et al, 2012). There has been a rise in debate about the relevance of assessment in education, why can’t students be allowed to handle education matters on their own? It is the question frequently asked by those who propagate against assessment in education. However, assessment can be connected to a wide range of stakeholders. Parents, the government, education institutions and the learners themselves need to know the level and magnitude of their performance. No one will want to incur huge costs on learning and does not feel contented with the resultant service being offered. Thus, teachers and other stakeholders have to come up with techniques which will depict the rate of performance of the learners. According to Tummons, assessment is not only an attribute which is undertaken by the learners, but it is also an approach which boosts the morale of the learners in their studies. For instance, when a learner is able to take, a continuous evaluation test, they will tend to work harder each time another paper comes up. This is more positive as compared to situations where the learners are not subjected to any assessment. The effectiveness of the evaluation process underlies under those who engage in the whole cycle. Individuals who introduce the mechanism have to be properly equipped to handle any challenges that may arise in the process; in addition the process has to be friendly (Tummons, 2007). The assessment encompasses three approaches, it commences with the formative assessment to interim assessment to summative assessment in the whole period of the learners in a particular grade. The main purpose of superimposing all the three in the curriculum is to offer a wide platform of learning. For instance, it will aid the students to have a wide scope of learning; formative and intermediate

Islam in the Modern World Essay Example | Topics and Well Written Essays - 1000 words

Islam in the Modern World - Essay Example Traditional law remained in force. The Medina period established a new order and codified different religious traditions and separate laws. The Quran was revealed to Muhammad over a period of twenty-three years in order to meet the needs of the Islamic society in Mecca and then in Medina. It gradually provided an Islamic ideology for the community and, in the process, modified or supplemented existing customs not meeting Islamic standards. Quranic values were concretized and interpreted by the second material source of law, the Sunnah of the Prophet (Murata and Chittick 12). 2. Quran is the main religious text in Islam. Since the Quran is not a law book, i.e., not a collection of prescriptions providing a legal system, and because the Prophet was no longer alive to resolve problems, the early Caliphs, and later, during the Umayyad period (661-750), the judges (qadis) shouldered the responsibility of rendering legal decisions. The Muslim concern not simply to know the divine will but also to execute it, inspired the early Muslim community's expansion and conquest of Arabia, the Eastern Byzantine Empire in Palestine, Syria, Lebanon, the Persian (Sasanid) Empire in Iran and Iraq, and Egypt. However, the realization of the Muslims' religious vision to transform the world was not a simple task. The Quran is the revelation of God, the central fact of the Islamic religious experience. As the very word of God, for Muslims the Quran is the presence of the numinous in history (space and time). Thus, the primary material source of the revealed law is quite natural ly the Holy Quran, the sourcebook of Islamic values. While the Quran does contain prescriptions about matters that would rank as legal in the strict, narrow sense of the term, these injunctions, in fact, comprise but eighty verses (Murata and Chittick 27). 3. The social-historical interpretation of Quran treats the book as the main source of ancient laws and principles, social-economic relations and political power. As Muslims seek to root their personal and national identity in an Islamic past, the importance of reinterpretation and community consensus is evident. Providing an Islamic methodology for reform is an essential part of this process. Lack of such a methodology undermines any sense of the Islamic character of reforms and consequently the acceptance of such reforms by the vast majority of Muslims. While passage of reforms may be effected through an autocratic leader of a legislature comprised of a small elite, their ultimate acceptance by the vast majority of the Islamic community will not be assured. Literal interpretation of Quran is aimed to investigate literary and oral traditions of this period, analyze cultural and national uniqueness of the text. Literary interpretations take into account the use of language and cultur al peculiarities of the text. Despite the changes thus far, the conflict between the forces of conservatism and modernism has continued. Resistance to change often resulted in indirect, ad hoc legal methods of reform as well as the shelving of draft legislation. The problem which has emerged is still very much that of taqlid (following tradition) versus ijtihad (reinterpretation), the infallibility of classical law

Legalize Marijuana Essay Example | Topics and Well Written Essays - 750 words

Legalize Marijuana - Essay Example Marijuana use also falls within the limits of a personal choice for everyone, and by making the choice to use it criminally, the United States is infringing on a personal choice. In 1857, John Stuart Mill wrote in an essay, â€Å"Over himself†¦over his own body and mind, the individual is sovereign†. Marijuana usage, especially in a private home or residence, is a personal choice, and by making it criminal, the government is taking away a choice and a personal liberty. In addition, the fact that the use of marijuana is criminal is only the tip of the iceberg; in doing so, the government has forced thousands of businesses and services to institute drug-prevention programs and random testing procedures. While I do agree that some limits should probably be set to people working certain jobs if marijuana was made legal, these drug programs would not be taking money away from the business.Fifteen states and the area of Washington D.C. have passed legislation making marijuana a legal substance for medicinal purposes. While there are some stipulations, such as in thirteen out of the fifteen states proof of residency is required, and further laws are put into place regarding the growing of marijuana as opposed to simply consuming it, the fact remains that it is a legal substance. These states did what they did because they saw the benefits of having marijuana as a legal alternative to those that were in extreme pain or already suffering from a terminal illness in the first place.... Marijuana usage, especially in a private home or residence, is a personal choice, and by making it criminal, the government is taking away a choice and a personal liberty. In addition, the fact that the use of marijuana is criminal is only the tip of the iceberg; in doing so, the government has forced thousands of businesses and services to institute drug-prevention programs and random testing procedures (â€Å"American Civil Liberties Union†). While I do agree that some limits should probably be set to people working certain jobs (e.g. nuclear reactor operator, construction worker, etc.) if marijuana was made legal, these drug programs would not be taking money away from the business. Marijuana possession and usage is already legal throughout the United States, though not from shore to shore, for medicinal purposes. Fifteen states and the area of Washington D.C. have passed legislation making marijuana a legal substance for medicinal purposes (â€Å"Medical Marijuana†) . While there are some stipulations, such as in thirteen out of the fifteen states proof of residency is required, and further laws are put into place regarding the growing of marijuana as opposed to simply consuming it (â€Å"Medical Marijuana†), the fact remains that it is a legal substance. These states did what they did because they saw the benefits in having marijuana as a legal alternative to those that were in extreme pain or already suffering from a terminal illness in the first place. Even former Surgeon Generals in the government have weighed in, stating that there was overwhelming evidence that marijuana could take away the pain of an illness (â€Å"Medical Marijuana†). It is my opinion that usage and consumption

Green Chemistry Principles in 2020 Essay Example | Topics and Well Written Essays - 3000 words

Green Chemistry Principles in 2020 - Essay Example The progress of human civilization, especially in the post Industrial Revolution era, witnessed a dynamic shift of the human race from agriculturalist approach to urbanization for the purpose of Industrial expansion. In order to secure increasing amount of place for establishing industries, more torture over environment commenced - starting from random deforestation to use of natural fuel resources in the industrial sectors, capable of emitting harmful gases and biohazards and created negative impact on the global environmental balance. During the Post World War II period, while capitalism and industrial domination became major resources for the powerful nations across the globe for their respective prosperity, the situation of environmental crisis took even more critical turn due to abundant use of nuclear elements for creating electricity (Krech, McNeill, and Merchant, 2004). In addition to this situation, most of the ruling nations of the world, in their quest to show their respec tive supremacy over one another, started experimental blasting of nuclear bombs and missiles, which amounted to massive destruction of natural resources, leading to one of the greatest threats against progress of the modern civilization, global warming. Once the Cold War between the United States and the Soviet Union was over during the 80s and the world revived from the impending threat of witnessing a nuclear war, consequently, humanistic part of the scientific activism also witnessed that human arbitrariness over experimenting with nature has extended to such an extent that immediate measures, if are not adopted, then there is always a great risk that the entire human race will be exterminated due to negative effects of natural imbalance (Buell, 2003). Thus, since the later part of the 80s â€Å"several environmentally conscious terms entered the chemical arena, e.g. clean chemistry, environmental chemistry, green chemistry, benign chemistry and sustainable chemistry† (Lin thorst, 2009). However, compared to other variations of environmental conscious terms in the field of chemistry, â€Å"green chemistry† received a great deal of appreciation and has become more familiar among students and aspiring scientists and one of the main reasons behind such wide acceptance of the term can be interpreted in the way that it explained the purpose of science and scientific experimentations by encompassing the ideology of environment friendly scientific approach, consequently, receiving wide range of support among various scientists and scientific associations (Linthorst, 2009). Adequate scholarly proposals have also been made to include green chemistry as a part of school curriculum. This paper will examine green chemistry principles in light of the sustainability issues of 2020. It will try to find out what kinds of changes are required to meet the sustainability challenges of 2020. it is first necessary to talk about the environmental issues and threat o f 2020. Then, it will move on discussing the green chemistry principles in light of sustainability issues of 2020. Environmental issues and threats of 2020: As human race is proceeding forward, there are many thing making up the trail to our destruction as the tropical forest turning to deserts, dry wastelands and choking cities, untimely weathers and oceans heaving with oil and other non-degradable

W11DBBCCDiscDQ1 and DQ2 Essay Example | Topics and Well Written Essays - 250 words

W11DBBCCDiscDQ1 and DQ2 - Essay Example The CAPM can be calculated using the following formula: Risk and return have a positive relationship. Securities that have higher risks will generate higher profits. Risk adverse investors prefer investment options with low or cero risk such as Treasury bills. The rate of return of common stocks is higher than Treasury bills due to the higher risks associated with common stocks. The value of a firm can be estimated using financial models such as the dividend discount model (Nyu). There are various factors that determine the risks of a project. Three of those factors are location of the project, timeline requirements, and quality of the labor provided by the project manager and team members. The funding available for a project is another variable that influences the success of a project. Projects that have unlimited funding have a greater chance of success than under funded projects. A major financial decision companies make is deciding the composition of the capital structure of the firm. Accountingformanagement.com (2011). The Use of Net Present Value (NPV) Method in Capital Budgeting Decisions – Discounted Cash Flows. Retrieved September 3, 2011 from

Singapores Energy Diplomacy Essay Example | Topics and Well Written Essays - 2500 words

Singapores Energy Diplomacy - Essay Example Being an economy with almost no natural resources, the country Singapore is more exposed to the threat of rising energy cost . This threat actually affects the national economy in a huge way. For that reason it is very crucial for the country to take necessary steps so that the energy efficiency is increased. In the month of October, 2002, at the Energy Forum, the Deputy Minister of Trade, Industry and Foreign Affairs of Singapore, Mr. Raymond Lim mentioned that the country would be projecting a three-phase response to combat the energy challenges . The first step, which was proposed by the deputy minister, stated that the industry base of the country should be strengthened by the up gradation and improvement of the oil-refining sector of the country . The first statement also focused on the development of the supporting functions for these oil refineries. The supporting components include promotion of e-business, proper supply-chain and logistic management, a development in the fiel d of information science and promotion of international oil trading. In his second recommendation the deputy minister stressed on the fact that for a country like Singapore, fighting against the energy crisis is important to develop a hub for alternative energy sources . The high-end alternative energy plans, which Mr. Lim proposed, were fuel cell technology and hydrogen economy. These technologies include test-bedding, manufacturing of the system for producing fuel cells and eventually marketing these products.The third and the final proposition focused on the liberalization and the improvement of energy efficiency of the country and also optimizing the usage of the un-renewable energy sources.

First Amendment Essay Example | Topics and Well Written Essays - 1250 words

First Amendment - Essay Example She got furious, scolded him for being a failure all his life and quickly wrote him a referral to principal. Once Jacob refused to leave class, school security was called in to escort him out. Later a parent conference meeting was scheduled and he was awarded an hour detention for a week. Was Jacob’s right of freedom of expression under first amendment violated? Was the management decision justified? How can we draw a balance between rights and obligations under the garb of freedom of expression? One’s unpopular speech is other’s free speech. Is disciplining student a right reserved to college faculty? This essay tends to analyze these questions by comparing two essays from Stanley Fish and Stuart Taylor in order to seek a plausible role of first amendment in college campus. Stanley Fish, in his essay â€Å"The Free Speech Follies†, argues that there is general tendency in America to hide behind first amendment. He is clearly troubled by the double standar ds which prevail in college campuses seeking refuge under attire of first amendment. He advocates acceptance of consequences of one’s speech as there is never an obligation to say anything at any point of time. On the contrary, Stuart Taylor Jr., in his essay â€Å"How campus censors squelch freedom of speech†, argues that college campus policies violate the First Amendment rights of students and one shouldn’t be punished or penalized for what he/she say. Although, Taylor and Fish both make evenhanded arguments, Taylor’s arguments are more convincing because of his rational of a more comprehensive view of the First Amendment. Fish initial argument starts from Fredrick Schauer description of first amendment opportunism i.e., tendency to hide behind the first amendment. Both of them believe that â€Å"such claims are just moral, social, economical, ideological assertions but do not have any special philosophical and historical affinity with first amendment †. So, what was the philosophy which shaped first amendment? Wasn’t it to foster a society and land of free from tyranny? It was the dire need for protection of rights of all Americans to express their moral, religious, political, and other convictions / opinions that envisaged First Amendment. This philosophy shaped political, cultural, moral and social values promoting freedom of expression over the years. Critical thinking and approach is evident from Supreme Court’s interpretation of First amendment in series of judgments over the years. Therefore, it does not seem appropriate to assert that these claims have no philosophical and historical affinity with First Amendment. Fish is clearly troubled by the double standards practiced in campus. He illustrates it with example of editors in campuses. He believes that an editor exercise judgment when he decides what to publish or not and it is different from silencing and self censorship. Silencing means to compel or reduce to silence while censorship implies control exercised repressively (merriam-webster). Fish argues that no one is silenced because a single outlet declines to publish their work but still has choice to say what he wants to say. He believes â€Å"Silencing occurs when that outlet (or any other) is forbidden by the state to publish him on pain of legal action; censorship is the same†. He further adds â€Å"Self-censorship, in short, is not a crime or a moral failing; it is a responsibility† I agree with Fish on this account that there needs to be more

Explain the significance of time-to-market and how this can be Essay

Explain the significance of time-to-market and how this can be enhanced - Essay Example The concept of time to market is very important for any company or organization. A decreased time to market is good for a company because it makes the sales of the company’s products go high, whereas increased time to market makes a company less competitive. If a company does not pay attention to the significance of the time to market concept, it results in decreasing the overall productivity and profitability of the company, which ultimately makes the company less productive in nature. Generation of revenues is directly related to the time, which a product takes from its development to its availability in the market. Reduction in the time to market of new products and services increases the revenues for a company, whereas delay in the time to market of new products and services not only results in decreasing the revenues but also increases the costs of development. Reduced time to market also increases the productivity for a company. If a company brings its products in the ma rket before any other company brings the same product in the same market, it results in increasing the productivity of the company because the product will be new for the customers and they will like to buy that product which will increase the demand for the that product.

The Same Things Still Fall Apart Essay Example for Free

The Same Things Still Fall Apart Essay In his first acclaimed novel, Things Fall Apart, one of Chinua Achebes many accomplishments is his uncompromisingly toughened rendering of Nigerian tribal life pre and post colonialism. The book was first published in 1958, which was just two years ahead before Nigeria declared independence from Great Britain; the book abstains from the obvious attraction of portraying pre-colonial life as a kind of Eden. Instead, Achebe outlined a world in which cruelty, war, and anguish exist; but at the same time, is filled with a balanced and strong sense of belief, ceremony, and social coherence. But more important than that, let us focus on his protagonist—Okonkwo. Okonkwo is a self-made man. He is the son of a charismatic good-for-nothing father. Okonkwo hated his father for this; and because of such, he worked day and night all his life to triumph over his fathers flaws. He was able to overcome his father’s reputation and has finally arrived at great richness and even greater status amongst his colleagues in the village of Umuofia. He is a champion warrior, a wealthy farmer, has three wives and father to several children. But more important than the characteristic that he portrays in the story, in a deeper and more objective angle, he is the epitome of a man who displays the flaws of a well-known Greek catastrophe: â€Å"Okonkwo ruled his household with a heavy hand. His wives, especially the youngest, lived in perpetual fear of his fiery temper, and so did his little children. Perhaps down in his heart Okonkwo was not a cruel man. But his whole life was dominated by fear, the fear of failure and of weakness. It was deeper and more intimate than the fear of evil and capricious gods and of magic, the fear of the forest, and of the forces of nature, malevolent, red in tooth and claw. Okonkwos fear was greater than these. It was not external but lay deep within himself. It was the fear of himself, lest he should be found to resemble his father.† (Achebe) At the same time, Achebe was also able to make this man cruel and sympathetic at the same time. And no matter how he conceals it, Okonkwo is fond of his eldest daughter and Ikemefuna—a little boy that was sent from a different village as payment for the wicked death of a young woman from Umuofia (another village). He starts to be delighted in his eldest son, in whom he has too frequently seen his own father. A series of catastrophic events tests the determination of this strong man, and it is his dread of weakness that eventually undoes him. It is only near the end that the real climax of the story begins. By then, Okonkwo and his village are already being colonized by the white men. But, with the traditions of his culture and village, his hopes for redemption are too mighty high to be abolished. The arrival of the white men with intentions to convert them into Christians, and the pursuance of the officials from the colonial government made his village confused and disrupted the Ibo culture completely. Okonkwo realized that it will be very hard on his part and for his fellow villagers to adapt to the incoming modern influences. And with these in mind, Okonkwo is now confused and lost between the abyss of the old and new ways. Because he believed that they should keep their traditions, Okonkwo self-decided that they should rage a war against the colonizers: â€Å"Does the white man understand our custom about land?† â€Å"How can he when he does not even speak our tongue? But he says that our customs are bad; and our own brothers who have taken up his religion also say that our customs are bad. How do you think we can fight when our own brothers have turned against us? The white man is very clever. He came quietly and peaceably with his religion. We were amused at his foolishness and allowed him to stay. Now he has won our brothers, and our clan can no longer act like one. He has put a knife on the things that held us together and we have fallen apart.†   (Achebe) With this ideology, it is quite clear that Okonkwo does not want to be colonized and he will do anything in his power to avoid that. He was ready to go to war but when he realized that his clan is not ready, he was very disappointed and just decided to hang himself instead. When the commissioner decided to write a book about his rebellion and his clan, from the title of the book itself (The Pacification of the Primitive Tribes of the Lower Niger), it is sufficient to say that he was not successful in attaining his goal. The title of the book itself implies that the book will only be filled with biased point of views and opinions from him. Both the commissioner and Okonkwo failed in meeting half-way to share their culture. Since it became harder for him adapt and at the same time he does not want to be colonized, he decided and resorted that war is the answer. But his bravery is not the same as his villagers. He failed to emphasize to them the importance of their culture. This scenario not only happens in secluded villages in ancient years. It also happens in modern times in different forms and intensity but the same ideologies persist. Last December 2007, Benazir Bhutto was assassinated in her homeland of Pakistan. For the longest time, she kept on fighting for the liberation of the vast minority in Pakistan. With the power that she has, it was inevitable that there will be people who will dislike her, and so, they assassinated her. Though this example is very political in nature, it has similarities from the story because they fought for the same thing—which was liberation for their people and at the same time, both characters were not able to fully achieve what they are fighting for. Somehow, both characters failed to achieve their goals. Works Cited: Achebe, Chinua. Things Fall Apart. 1st Anchor Books Ed edition ed: Anchor, 1959.

Contributing factors and treatments of Osteoporosis

Contributing factors and treatments of Osteoporosis Factors Contributing To Osteoporosis, The Symptoms And Consequences Of This Disease And Its Prevention And Treatments So That Patient Can Achieve An Almost Normal Life Primary osteoporosis can occur in both sexes, is common in postmenopausal females, and occurs later in life in men. Secondary osteoporosis includes deficiencies or excesses of hormones, steroid administration and chronic illness. Osteoporosis may not be due to bone loss alone but if a person is 20 years of age and the bones have not reached their lifes highest density although one ages with normal daily bone loss, osteoporosis can occur even without accelerated bone loss because the ultimate bone mass achieved is the result of a balance between bone formation and bone resorption. Bones are living tissue. Throughout our lifespan, new bone is formed daily to replace areas of bone that dissolve into the blood. This constant remodeling process-bone resorption and then formation-continues throughout life, but after age 35 more resorption take place. Osteoporosis results when there is excess bone loss without adequate replacement. Bones become brittle and easy to break. Normal bone structu re has two forms that is the outer shell of the bone known as the cortex which is very strong and solid. The inside consists of trabeculae, a meshwork of bony struts. The empty spaces between the struts are filled with fat, bone marrow and blood vessels. In osteoporotic bones, calcium leaches from the bone mass and as a result small holes form in the bones. Presence of these holes causes bone weakening. As the process continues, trabecular struts are lost and the pores and empty spaces within the bone grow larger. It takes one minute breaks to occur in the weakened bone tissue to cause major fractures. It is hoped that this assignment could be of much help to us and our other friends to have a better understanding of osteoporosis in general 10 INTRODUCTION TO OSTEOPOROSIS OSTEOPOROSIS IN MENOPAUSE WOMEN Definition Of Osteoporosis In Menopause Women i. Defining Osteoporosis The World Health Organization (WHO) defined osteoporosis in women as a bone mineral density 2.5 standard deviation below peak bone mass (20-year-old healthy female average) as measured by DXA. There are two types of osteoporosis; primary osteoporosis and secondary osteoporosis. Primary Osteoporosis can be found in people with low bone mass, in female, aging citizens, those suffering from estrogen deficiency, white race, low weight and body mass index (BMI), a family with osteoporosis history, addicted smokers, and a long history of fractures. Last but not least a prolonged periods of immobility, early menopause, and low endogenous levels of estrogen Secondary Osteoporosis are disorders link with increased risk of osteoporosis, such as hypogonadism which is the lack of testosterone or estrogens by the testes or ovaries, endocrine disorders, genetic disorders, hematologic disorders, gastrointestinal diseases such as celiac disease, connective tissue disorders, nutritional deficiency, alcoholism, end stage renal disease, drug such as corticosteroids and congestive heart failure. 11 ii. What Is Menopause? Menopause happens in woman at the age of 51 whose ovaries had stopped releasing eggs, estrogens or when other hormones produced in the ovary slowly diminishes and menstruation slows down. If the ovaries had stopped producing estrogen and progesterone, the low estrogen levels may cause menopause symptoms. For example; cessation of menstruation will be followed by night sweats, hot flashes, vaginal dryness or even heavy and erratic periods. Osteoporosis in menopause women is known as post menopausal osteoporosis. B. Knowing Osteoporosiss Basic Bone Formation Our bone is renewed in two stages, that is, resorption and formation. In the resorption stage, the bone is broken down and removed by osteoclasts cells. In the formation stage the osteoblasts cells built new bones replacing the old ones. During childhood, early adulthood and by mid-30s, more bones are produced than removed. After mid-30s the bone is lost faster than it being formed, which resulted in the amount of bone in the skeleton to slowly decline due to aging. Osteoporosis due to aging is called primary osteoporosis. If caused by disease processes or prolonged use of certain medication, it is then known as secondary osteoporosis. 12 THE RISK FACTOR, FACTORS AFFECTING AND THE CAUSES OF OSTEOPOROSIS ________________________________________________________________________ ll. The Risk Factor And Factors Affecting Osteoporosis The Risk Factor of Osteoporosis/Factors Affecting Osteoporosis Risk factor for osteoporosis fracture is group into non-modifiable and modifiable. Examples of non-modifiable are aging in men and women, oestrogen deficiency, reduction in bone mineral density and a drop in men testosterone level. Potential modifiable are excess alcohol, vitamin D deficiency, tobacco smoking, malnutrition, high protein diet, under weight or inactive, excess physical activity, soft drinks, caffeine and heavy metals. Heavy metal is an association between cadmium, lead and bone disease. Low level exposure to cadmium can cause an increased loss of bone mineral density in men and women, which in turn can lead to pain and increased risk of fractures. Higher cadmium exposure can soften the bones. Its greatest risk factor is the menopause stage where there is no further production of bone protecting hormones or production of protecting hormones reduced. Other risk factors include being female, age, family history of osteoporosis, hormone deficiency, low calcium intakes, drinking excessive alcohol and smoking cigarettes. Others include early menopause in women and a number of medical conditions. Health also contribute to risk factor, especially if ones had her ovaries removed, having menopause before the age of 45, suffering from amenorrhea or regular intake of steroid or thyroid medication Hereditary or genetics could be anyones risk factor, for example, family history whereby female Caucasian or Asian with thin and small bones. 13 Unchecked lifestyle like addicted smokers and heavy beverages drinkers , that is, ones drinking habit of caffeinated drinks such as coffee, tea or soda. If ones does not consume enough milk, dairy product, vegetables, fruits or other food sources rich in calcium or taking excess protein intake could also increase the risk factor of osteoporosis. Being physically inactive for a prolong periods of time could increases the risk of osteoporosis. The Causes Of Osteoporosis In Menopause Women And Men Osteoporosis is related to weak and fragile bones in aging people, people with obesity and pregnant women. Diseased bone with small pores and cracks often breaks, causing fracture unable to support their body weight are caused by osteoporosis. Lifestyle habits, smoking, alcohol intake, hereditary and low estrogen levels in women and men can cause osteoporosis. The inability of ovaries in post-menopause women to secrete estrogen to maintain the bone density can cause them osteoporosis. Enough nutrients should be taken at an early age or else we will end up with bone diseases later on. Weak bones that become weaker will develop small cracks due to improper supply of nutrients and minerals are the primary cause for developing osteoporosis. In gender, women are smaller and have less bone when compare to men and they lose bone tissue quickly as they aged too. Low body weight could be affected with 14 osteoporosis disease. Mineral density should be built up at an early age by taking food that is rich in calcium and minerals for stronger bone tissue as they get older. Eating excess protein causes calcium intake to be taken from the bone and excreted in the urine. To make it worst, bone strength peaks in our mid thirty, after this, bone gradually loses its density and strength. The presence of particular hormonal disorder and other chronic diseases such as parathyroid or as a result of medications can be one of the causes of osteoporosis, especially for women after menopause or even old men. Hyperparathyroidism can happens in a young age or osteoporosis in male, Immobility of an affected limb after severe fractures as in accident victims can cause osteoporosis, especially those in plastered for a long time. Drug like steroid is an osteoporosis inducer. Patients with this treatment should have high calcium intakes. . 15 SIGNS AND SYMPTOMS OF OSTEOPOROSIS ________________________________________________________________________ lll. Understanding The Signs and Symptoms of Osteoporosis Signs and Symptoms of Osteoporosis The Pain Factor There are not many signs and symptoms of osteoporosis. We can feel the signs and symptoms if there is severe and long lasting pain in acute fracture when lifting or bending. Back pain is a sign or symptom that shows an increased thoracic kyphosis, that is, the upper back curve or an increased cervico-thoracic curve, for example, the dowagers hump. Both of them feature a noticeable loss of height. Osteoporosis does not always cause pain. It can cause discomfort due to thinning bones. Under x-ray, thin bones and compressed fractures in the thoracic spine shows that even without trauma the sign and symptom of osteoporosis is still there, especially after a bone density scan (DEXA) to detect and monitor the degree of osteoporosis changes. Bone disease is responsible for 1.5 fractures every year. The fractures are the first sign of osteoporosis existing in bones such as in the hip, spine and wrist. Breaks in the hip and spine should be taken seriously because if not taken care of immediately not only they suffer severe pain but also require hospitalisation and major surgery. Osteoporosis fractures can cause acute and chronic pain but spinal fractures may be painless. Sometimes, acute pain is the normal process of fractures healing. Whereas chronic pain continues long after the bone is healed. An accidental fall or severe blow can cause hip and wrist fracture. A crush fracture and a collapsed vertebra is also a prominent symptom. 16 Over the years of unchecked disintegration of the vertebrae can caused widows hump, a forward curve of the spine in the upper back. 17 PREVENTIONS OF OSTEOPOROSIS ________________________________________________________________________ IV. Preventions And Treatments For Patients To Live A Normal Life A. Preventions, Treatments And Coping With Osteoporosis i. Preventing Osteoporosis In General We need to practice the healthy lifestyle to prevent our bones from becoming thin and weak or also known as osteoporosis. Without prevention and treatment, osteoporosis will continue developing on our bones without any symptom or pain until we noticed that fracture had occurred. The first prevention that we will discuss is based on the scope of nutrition. Our bodies need the proper amount of vitamins, minerals and other nutrient to stay healthy. By eating the right food, we essentially get the best nutrition needed. For the better function of heart, muscle, nerve and for stronger bones, gaining enough calcium and vitamin D is important. Balanced diet is the best way to get enough calcium. Besides getting the balanced diet, we need to have a diet that is high in calcium. Getting less calcium during our lifetime will increase the risk of developing osteoporosis which is related with broken bones, rapid bone loss and low bone mass. Good sources of calcium present are low-fat dairy produ ct (milk, yogurt, cheese, and ice cream), leafy vegetables (broccoli, collard greens, and spinach), sardines and salmons with bones, tofu, almonds and food with added calcium (orange, juice, breads, and soy products). Other things we can do to prevent osteoporosis from occurs to us is through exercises. Bones are living tissue that will become stronger when we exercise. A bone may look like a hard and lifeless structure, but it is actually more like muscle. Bone density 18 and strength increased through physical activity during childhood and adolescence. Meaning, children who always do their exercise often more are easily to have maximum strength and solid bone (higher peak bone density) usually when they are 30 years. The best exercise to prevent osteoporosis is weight bearing exercise. This is because this exercise works against gravity. It works when our feet and leg are supporting our own weight. It is important for building and maintaining healthy bones. It includes walking, jogging, jumping rope, climbing stairs, dancing and others. Other recommended exercise is resistance exercise. This exercise use muscle strength to trigger muscle mass and also help to strengthen the bones. Activities that make use this muscle is weight lifting like using free weight and machines, as found at health club and gym. Exercise is more benefit in older people because through exercise they can increase their muscle strength, coordination and balance which make them to attain better health. However, people with chronic disease like heart or lung disease, people with osteoporosis, older people and people who do not take their exercise should check themselves with their healthcare provider before trying any exercise program. Other ways for us to prevent osteoporosis is to change our life style. It includes to stop smoking and limiting alcohol intake. Smoking had bad effect to our body especially to our bones and as well as our heart and lung. For women, nicotine in cigarette will inhibit the bone protective thus it will affect amount of estrogen produce. Women smoker 19 tend to get menopause earlier. This is because it will hasten the development of osteoporosis since bone density had decrease rapidly after menopause. Menopause women who had smoked and choose hormone replacement therapy acquire more complication and intake of large doses of hormone. For the men who smoke, they are at risk for osteoporosis to occur. Besides that, men or women smoker may absorb less calcium from their daily diet. Compared to non smoker, smokers have high risk of hip fracture. Other than to stop smoking, we need to limit the alcohol intake in our daily life. Consumption of 2-3 ounces of alcohol a day even in young men and women will cause them to have bone loss and fracture. This is the result of poor nutrition which increased the risk of falling. Drinkers are liable to get a high risk of osteoporosis. 20 TREATMENTS AND MEDICAL AIDS FOR OSTEOPOROSIS __________________________________________________________________ ii. Treatments And Medical Aids For Osteoporosis Patients At times, we wonder as to how we have osteoporosis problem and not knowing why this is happening to us. It is crucial for us to see the symptoms and detect the risk factors of osteoporosis before it is too late. We should also be aware and know how to prevent osteoporosis from occur to us as we aged. After following the guide lines given by the doctors and physiotherapist but bone fracture still could not be stopped, a person can take drastic action to stop the progression of bone loss through surgery or medications. So do not worry too much about it since there are ways on how to treat it. There are various treatments that are available for treating osteoporosis. One of them is Hormone Replacement Therapy (HRT). HRT is used on women who are going through menopause. The function of this treatment is to make the bone density to be constant and stable and also to slower down the fracture rates during treatment session. There are so many types of HRT like the menopausal hormone therapy, estrogen hormone therapy, testosterone hormone treatment, and others related to the hormone. Usually this type of HRT is not used alone. It is always used with the combination of two hormones, for example, progesterone is combined with estrogen. This is to prevent side effect like increasing the risk of stroke, heart disease, breast cancer, heart attack, ovaries 21 cancer and also the risk of endometrial cancer in woman who has not had a hysterectomy (surgical removal of the uterus). This HRT can be taken in form of pill and skin patches. Other form of treatment provided is the high intake of calcium and vitamin supplements. This nutrition intake has benefited older people either male or female in taking steps to decrease the risk of fracture. For women, getting enough calcium in their diet can help to minimise the risk of fracture at young age. Each day, we should drink or eat for about 700mg of calcium. This is the best amount of calcium that our bodies need every day. If we had found that we are not getting sufficient amount of calcium in our diet, we should ask the health care provider or the doctor for advise about calcium supplement that we need to take. Another treatment available for osteoporosis patients is through medication or therapeutic medication. Effective medication should be approved by the US Food and Drug Administration  (FDA). Currently the most effective medication that is approved by FDA is the anti-resorptive agents. This medication is aimed to prevent bone loss. Besides increasing the bone density, anti-resorptive medications inhibit bone removal and tipping the balance in favour of bone rebuilding. Examples of antiresorptive agents are menopausal estrogen theraphy, alendronote, risedronate, ibandronate, raloxifene, teriparatide and calcitonin. Each antiresorptive agents has had approval for their specific use. Alendronate,  risedronate, and  ibandronate  are approved for the prevention and treatment of  postmenopausal osteoporosis in  women. Alendronate is able to increase 22 bone mass in men with age-related osteoporosis, Alendronate and risedronate are to treat men and women with steroid-induced (glucocorticoid) osteoporosis. Raloxifene is approved for the postmenopausal women who are not taking hormone replacement therapy. Teriparatide  is approved for the treatment in postmenopausal women and men who are at high risk for fracture and is the calcitonin  medication. The last step that we can do to prevent osteoporosis from developing is through early screening. Doing bone mineral density (BMD) test is the only reliable way to know the exact loss of bone mass. It is to test the strength and solidness of the bones. Bone mineral density tests measure the solidness and mass (bone density) in the spine, hip, wrist, heal or hand. This is the common sites of fractures in our bodies due to osteoporosis. These tests are performed like x-rays.  They are painless, non- invasive, and safe. The risk of radiation is very minimal, much less than even having a chest x-ray film. BMD test should be taken by people with strong risk factor for osteoporosis. The risk factor includes estrogen deficiency, poor diet without enough calcium, Lack of exercise, smoking, large intake of alcohol, family history  of hip fracture or vertebral fractures and low body mass index. Examples of tests that are used to measure bone mineral density include dual energy  x-ray  absorptiometry (DXA),  quantitative  computed tomography  (QCT), and quantitative  ultrasound  (QUS). 23 By detecting osteoporosis at an early stage,  the patient and the doctor  can take action to stop the progression of bone loss. Changing the lifestyle and sticking to the treatment strategies recommended by a doctor, osteoporosis can be prevented 24 COPING WITH MENOPAUSAL OSTEOPOROSIS ________________________________________________________________________ Menopause Women Coping With Osteoporosis Menopause women with a number of risks factor or had a fracture without significant trauma should go to the hospital and treated for low bone density. Exercise plays an important role to help circulation, increase bone density and HDL levels and lower stress due to vaginal dryness. They should avoid smoking and excess alcohol. They should limit their protein and fat intakes and increase their fibre and calcium intakes. They should get the help and advice from a skilled physiotherapist from any local osteoporosis classes and clinics who in turn will educate them the importance and benefits of movement. Plenty of exercises can push up their bone to a good level and slow down the bone loss process. Impact exercises which jar the bones are better than cycling or swimming. 25 THE CONSEQUENCES OF OSTEOPOROSIS ________________________________________________________________________ V. Consequences Of Osteoporosis For Individuals And Community Osteoporotic fractures have consequences impact for individuals, community, organisation, private industry and governments, for example, individually fractures can lead to chronic pain, immobility and restricted activities. The cost of loss of income, such as, equipment and devices to help cope with restricted activities and home care are paid by family members. For the community, an increased demand for services such as meals on wheels and community taxi services are inevitable. 26 CONCLUSION ________________________________________________________________________ VI. Conclusion We would like to conclude that osteoporosis can be avoided if we plan our food intakes wisely. Food sources rich in calcium like dairy products, green leafy vegetables and fruits which is known to increase the bone mineral density. Vitamin D, magnesium, vitamin B and vitamin K are essential nutrients found in green vegetables that could avoid weak and thinning bones. We should also exercise for a healthy and fitness body and should go for medical check up as often as possible to enable detection of osteoporosis at its early stage. Furthermore, serious consequences of bone fracture include permanent disability or death. 27 GLOSSARY ______________________________________________________________________________ Standard deviations- Standard deviations refer to a disease characterised by low bone mass and loss of bone tissue that may lead to weak and fragile bones. In osteoporosis the bone mineral density is reduced, bone micro architecture disrupted and the amount and variety of bone protein is altered. DXA- DXA (dual energy x-ray absorptiometry) is a means of measuring bone mineral density (BMD). WHO- WHO (World Health Organisation) is a specialised agency of a coordination authority on international public. Immobility- State of being immobile Renal- (Anatomy) of, in or near the kidneys Cessation- Action or act of ceasing; pause. Deficiency- State of lacking something essential, Instance of this; shortage Lack of a necessary quality; fault. Erratic- Irregular or uneven in movement, quality or behaviour (unreliable) Caucasian- Relating to the white or light-skinned racial division of mankind Dowagers hump or widows hump- Compression fractures of the spine cause a loss of height and the bending of the shoulders (upper part of the back) 28

A Look At Leadership Psychology Essay

A Look At Leadership Psychology Essay In a changing corporate world, strong leadership is becoming necessity for their survival Bennis nanus,1985.Complexity and chaos are creating emerging concerns in solving problem in business world, which leads more attention to leadership. This in turn has increased arguments how leadership is different from management. Management focus on responsibities and reaching goals effectively and efficiently which means it is the activities that keeps organization running(Huey,1994).However leadership is a role to influence others and guiding them to go in right direction to effectiveness(Bennis Nanus,1985). Three skills required for managers to create success organization includes establishing direction, motivating and inspiring people and aligning people (Cohn,1998).This new leadership role, it puts more pressure on leaders to deal effectively in an environment in which knowledge is an economic resource. Knowledge includes explicit data and statistics as in history and tactic or inner sense. These are considered as key skills of leaders (White, Hodgson, Crainer, 1996).Self awareness is a foundation for tactic knowledge. In the White, et al(1996) self awareness involves the leaders being aware of their strengths and weakness and ability to accept them. Self analysis is a process of raising self awareness. So the key thing here is to collect sufficient and efficient information to make effective decision on ones future for a self managed development. By examining your strengths, weaknesses, skills and competences, a person can get a clear picture of what you are and what you have got. Now a days self awareness has become an important management trait in leadership training. Managerial self awareness is linked to effectivess of leaderships. Managers needs to aware of the areas that needs improvement to do their job well. Asking feedback is an important element in this process. Feedback is known to improve performances of the mangers by motivating to improve and directing to the strategies to improve performance(Ashford Tsui,1991).The credible technique or the developmental assessments used these days are multi-rater feedback or360 feedback or multisource appraisal, peer review and full circle feedback (Church Bracken,1997).This involves a range of raters like peers, co-workers, team leaders, self, supervisors, customers etc to provide feedback by filling a standard questionnaire. The underlying reason to this technique is the improved accuracy that is obtained by asking a wide range of people. This helps to improve future behaviour. However this was opposed by most traditional approach with only one rater that gives global and accurate results than having different rater groups having different way to rate a manager that leads to halo effect (Borman,1974;Zalesny Lirch,1989). Multi rater may not be 100% accurate.  People judge ones personality based on the role that they do and over the period they develop skills to suit the job. Top of that behaviours are interpreted differently by different people   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Another limitation on feedback is that sometimes the feedback will be difficult for a person to accept that might bridge a gap in relationship. But these flattering feedbacks might help you increase management skills. It helps to remain cognizant of how ones performance is perceived. If the level of trust is high then people will give you flattering feedback. It is seen that managers who seek negative feedbacks are in more favourable light than managers who are interested in obtaining negative feedbacks. Impression management associated with active feedback seeking increases the perceives managers effectiveness (Ashford Tui,1991). Multi rater system takes over the self rating system as the way manager rates himself or herself is always biased and not reliable. This is human tendency to take credit for success and blame circumstances for failures. So the managers who are likely to access their competencies accurately are more aware of the jobs that they do. They are able to visualise how others see them and change their behaviour accordingly in future which in turn enhances leadership techniques. According to Flavell et. Al(1968), the ability to assess another persons capabilities and tendencies in a given situation and the ability to use this information to communicate more effectively is a skill that is developed with age. The characteristics of social judgement are a function of developmental phase of a human being. Mead (1934) argues that to be aware of ones selfhood, the person must first detach awareness from the inside of oneself and use the exterior vantage point of another person. Taking the role of the other is necessary in this framework, as the context of the self consists of the perception of the social other. Duval and Wicklunds (1972) theory of objective self-awareness takes exception to Meads theory by postulating that self-consciousness occurs because consciousness can focus its attention on the self in the same way that attention is focused on any object.In no way is it assumed that the individual is dependent upon the point of view of the other in the sense that Mead intends. If the object-like nature of the self has been discovered, and stimuli in the environment are such that consciousness turns in the direction of the self, the person will become objectively self-aware (Duval Wicklund,p. 31, 1972). In other words, a person does not need to use the point of view of another person to be self-conscious. Instead, the mature individual has one consciousness ability to focus on different directions. Duval and Wicklund (1972) define objective self-awareness as the state in which the self is the object of consciousness. On the other hand, subjective self-awareness is the state in which the self is not the focus of consciousness. A manager must not only be thoughts, feelings and limitations on himself rather he should be aware of others point of view and include the information in self appraisal (Duval Lalwani, 1999). This can be referred to as other-awareness (Figurski, 1987). Figurski (1987) identified four different kinds of person-awareness to bring clarity to the definition of self-awareness. As seen in Figure 1, the three dimensions of person-awareness are target, perspective, and content. Perspective or tacit awareness (egocentric or allocentric) interacts with the target or focal awareness (self or other) to get content of awareness. Four categories of attention result: self-experience awareness, self-image awareness, other-image awareness, and other-experience awareness. These can occur together in any combination or simultaneously. Figure 1. Figurskis Model of Person Awareness TARGET Self Other Self Experience Awareness (Internal) Other Image Awareness (External) Self Image Awareness (External) Other Experience Awareness (Internal) The figures indicate that people are aware of others experiences almost fifty percent of the time. The self proves to be the dominant focus of attention. Although managers are focusing the majority of their attention to the self, they are not able to accurately judge their own behaviours. As stated above, self-ratings are thought to be unreliable indicators of behaviour for various reasons. However, self-ratings are important as there are some characteristics like intelligence, high achievements status and locus of control are closely related to accurate self evaluation Mabe and West(1982). The greater the individuals level of self awareness the more similarity that is expected between the self assessment and the ratings provided by peers. Numerous other studies have linked various managerial characteristics to more accurate self-evaluations. The discrepancy between self- and other-ratings is also empirically unclear. For example, an elevation in self-ratings could be due to lower ratings in others rather than over-estimation by the self. Individuals who are self-aware are more likely to respond to information from past experiences, thereby becoming more effective and displaying more leadership strengths. There will be a significant relationship between overall managerial leadership effectiveness and congruence in self-other ratings. Individuals who are more self aware are perceived by their managers as good performers. This will be manifested in high performers receiving higher congruence in self-other ratings compared to average performing managers (Hypothesis 1a). In addition, there will be a correlation between the overall leadership measure and higher congruence scores (Hypothesis 1b). In the event that a manager is not self-aware, information on how others perceive the self is not utilized. According to the Figurski (1987) model, the allocentric perspective must be utilized in order for one to be aware of how the self is considered by others. Failure to consider the similarity or differences between the self and others results in perspectives that vary. Effective communication is in turn hindered, because the understanding between people is not clear. Conversely, those who communicate effectively are using information gathered from interactions with others. It is therefore expected that managers with higher communication scores will display more congruent performance data (as reflected in self-rater agreement). (Hypothesis 2.) Previous studies have found that different rater groups draw from different experiences when filling out an individuals performance review, and therefore results can differ by data source (Harris Schaubroeck, 1988; Borman, 1974; Zalesney Kirsch, 1989). Furthermore, individuals tend to focus more on feedback they receive from their managers versus peers or others. Data source (self, manager, peer, and other) is expected to explain variance in self-awareness levels. (Hypothesis 3.) Key Areas for Self-Awareness     Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Being a very complex and diverse creature Human beings need to have an understanding in many areas to become self aware. The areas that has to be focused for self- awareness includes psychological needs, personality traits, values, habits, emotions etc.     Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Understanding our personalities can help us to find the solutions in which we thrive and help us to avoid situation which will give us too much stress and mental pressure. It could be in personal or professional life. For instance an introvert person can find it more stressful in sales job than an extrovert person. So either the person has to learn skills to match the job requirement or should look for other opportunities. So Awareness of personality helps to make a decision that will lead to less stress to lead a happy life.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Every person has its own personal values. Awareness of own values will not misguide us to pay more attention to less priority things in a day to day and we would be likely finish what we think is important to us rather than feeling guilty on not finishing it.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Habits are the behaviours that are repeated routinely and automatically.  Personal habit may affect our effectiveness. For instance if a person who is a manager doesnt have a habit to consult staff in decision making process may affect his ability to build staff members commitment.    Knowing the psychological needs like esteem, affection, possessive, achievement, self actualization, power, control etc will help to understand their effect on interpersonal relationships. Emotional self-awareness is one of the five facets of emotional intelligence. Its about knowing ones feelings, what caused that feeling and how it impacts one thought and action. A person with high emotional self awareness can understand the internal processes of any emotional experience so can have a better control over it How Self-Awareness Makes You More Effective     Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Self-awareness promotes skill development by the bridging the gap in management skills. It leads the managers to find effectivess and help in making effective decision, stress management and motivate oneself and others   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Self awareness makes a person aware of the gap between the current and future situation and helps enhancing the skills required for the future situation. Self awareness helps to utilise your strength and manage your weaknesses. For example someone gets tempered when conflict arises. If the person is aware of his weakness then the person should to not be in a situation when the conflict arises or practise to deal with the situation. That will help the person to handle its temper and not to affect others.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Managers with emotional awareness are good decision makers. In these changing competitive environments intuitive decision makers can deal with situation with gut feeling and sixth sense. Emotionally aware persons can read their gut feeling and have better sixth sense that help them in decision making process. Jobs that dont suit a persons personality will give more stress than more compatible jobs. This is not like if your qualities are not compatible you cant go ahead with the job but you can put extra effort to develop the skills buy there are other alternative that will be less stressful.  Self awareness is very powerful in revealing what is important for a person to improve performance.   Understanding psychological needs increase motivation and get closer to the rewards that a person deserves.   Understanding what click a person, reason of behaviour, reason of excitement etc can make what triggers others as well. So knowing to motivate yourself can help in know what motivate others. In Summary   To perfect ones management skills the best way to start is getting self aware. With a sense of yourself and vision of what kind a person you are or what you want to become a plan of personal and professional development can be created, its helps to motivate a person, Help to manage stress and help in decision making and helps to lead and motivate others, which makes an effective leader. Knowing yourself is a slow process so we should try hard.

Shakespeares Othello - The Character of Iago :: GCSE English Literature Coursework

The Character of Iago  Ã‚   There is no doubt in  «Ã‚  Othello  Ã‚ » as to the role Shakespeare has given  Iago, he is the villain, masterful at deceit he generates most evil in the play. The clever soldier, his incredible acting allows him to be two or three completely different people. During most of the Act the audience finds itself constantly trying to find a motive for Iago’s actions but finds none that can justify what he is about to do. What does seem to come back again and again is his view on women which he sees as sex rapacious and a danger to his machiavellian plans. Scene 1 offers us a good preview as to what Iago is going to do for the rest of the Act and ultimately the rest of the play. Our first view of Iago is of a hard deceitful man who says  «Ã‚  Sblood  Ã‚ » as opposed to Roderigo’s  «Ã‚  Tush!  Ã‚  Ã‚ », we see already his powers of deception as he explains how he is even worse off than Roderigo, his furious language:  «Ã‚  A fellow almost damned in a fair wife  Ã‚ » manages to convince the intellectual Roderigo who is presented along with Cassio in contrast to Iago. They are polite, educated, fairly wealthy and can not imagine that something as evil and motiveless as Iago exits. Iago has not only lost his promotion but also his hero in Othello. We sense the irony in  «Ã‚  We cannot all be masters, nor all masters can be truly followed  Ã‚ » and see that what Iago says he will do to Othello he is doing Roderigo, he is manipulating him. He gets a bit carried away in his speech about how he hates the Moor to the exte nt that some parts are hard to understand:    «Ã‚  Were I the Moor, I would not be Iago  Ã‚ » which might mean that if he was the Moor he would not like to be followed by Iago (himself) so that we see that although he might be exaggerating to justify taking more of Roderigo’s money he really hates Othello. We see how he enjoys playing the part of the villain and already wonder why Roderigo can’t see that Iago has insufficient motives to do what he wants to do to Othello, we aren’t sure what he plans to do but can tell that it involves extreme sufferance and maybe death. He also acknowledges here that he is not what he seems to be:  «Ã‚  I am not what I am  Ã‚ » which strengthens the impression we have had of him so far.

St. Stanislas Kostka :: essays research papers

St. Stanislas Kostka Born at Rostkovo near Prasnysz, Poland, about October 28, 1550; died at Rome during the night of 14-15 August, 1568. He entered the Society of Jesus at Rome, October 28, 1567, and is said to have foretold his death a few days before it occurred. His father, John Kostka, was a senator of the Kingdom of Poland and Lord of Zakroczym; his mother was Margaret de Drobniy Kryska, the sister and niece of the Dukes Palatine of Masovia and the aunt of the celebrated Chancellor of Poland, Felix Kryski. The marriage was blessed with seven children, of whom Stanislas was the second. His older brother Paul survived him long enough to be present at the celebration of the beatification of Stanislas in 1605. The thought of joining the Society of Jesus had already entered the mind of the saintly young man. It was six months, however, before he ventured to speak of this to the superiors of the Society. At Vienna they hesitated to receive him, fearing the tempest that would probably be raised by his father against the Society, which had just quieted a storm that had broken out on account of other admissions to the Company. Stanislas quickly grasped the situation and formed the plan of applying to the general of the Society at Rome. The distance was five hundred leagues, which had to be made on foot, without equipment, or guide, or any other resources but the precarious charity that might be received on the road. The prospective dangers and humiliations of such a journey, however, did not alarm his courage. On the morning of the day on which he was to carry out his project he called his servant to him early and told him to notify his brother Paul and his tutor in the course of the morning that he would not be back that day to dinner. Then he started, taking the first opportunity to exchange the dress of gentleman for that of a mendicant, which was the only way to escape the curiosity of those he might meet. By nightfall Paul and the tutor comprehended that Stanislas had turned from them as he had threatened. They were seized with a fierce anger, and as the day was ended the fugitive had gained twenty-four hours over them. They started to follow him, but were not able to overtake him; either their exhausted horses refused to go farther, or a wheel of their carriage would break, or, as the tutor frankly declared, they had mistaken the route, having left the city by a St. Stanislas Kostka :: essays research papers St. Stanislas Kostka Born at Rostkovo near Prasnysz, Poland, about October 28, 1550; died at Rome during the night of 14-15 August, 1568. He entered the Society of Jesus at Rome, October 28, 1567, and is said to have foretold his death a few days before it occurred. His father, John Kostka, was a senator of the Kingdom of Poland and Lord of Zakroczym; his mother was Margaret de Drobniy Kryska, the sister and niece of the Dukes Palatine of Masovia and the aunt of the celebrated Chancellor of Poland, Felix Kryski. The marriage was blessed with seven children, of whom Stanislas was the second. His older brother Paul survived him long enough to be present at the celebration of the beatification of Stanislas in 1605. The thought of joining the Society of Jesus had already entered the mind of the saintly young man. It was six months, however, before he ventured to speak of this to the superiors of the Society. At Vienna they hesitated to receive him, fearing the tempest that would probably be raised by his father against the Society, which had just quieted a storm that had broken out on account of other admissions to the Company. Stanislas quickly grasped the situation and formed the plan of applying to the general of the Society at Rome. The distance was five hundred leagues, which had to be made on foot, without equipment, or guide, or any other resources but the precarious charity that might be received on the road. The prospective dangers and humiliations of such a journey, however, did not alarm his courage. On the morning of the day on which he was to carry out his project he called his servant to him early and told him to notify his brother Paul and his tutor in the course of the morning that he would not be back that day to dinner. Then he started, taking the first opportunity to exchange the dress of gentleman for that of a mendicant, which was the only way to escape the curiosity of those he might meet. By nightfall Paul and the tutor comprehended that Stanislas had turned from them as he had threatened. They were seized with a fierce anger, and as the day was ended the fugitive had gained twenty-four hours over them. They started to follow him, but were not able to overtake him; either their exhausted horses refused to go farther, or a wheel of their carriage would break, or, as the tutor frankly declared, they had mistaken the route, having left the city by a

Essay --

Carla Molina December 19th, 2013 Period.8 Judicial Review Research ‘ Case One: â€Å"Georgia .vs. Randolph† Summary This case is about Scott Randolph, who’s home was searched without a warrant. Due to this â€Å"corrupted† search, police ended up finding cocaine in his home. As a matter of fact both Randolph and his wife Janet Randolph were present during the search, it’s stated that Randolph’s wife gave permission to search the house. However Randolph denied to give that consistent, but police believed that the wife’s permission was all they needed. After the encounter with the drugs, Randolph was arrested for drug possession. This case was taken to trail and both the appellate court and Georgie Supreme court believed that the search of Randolph's home was unconstitutional. Key Details & Ideas Majority Opinion: Said by Justice David Souter â€Å" In the majority opinion, compared the reasonableness of such a search to a more casual interaction.† He believes that the co-occupants consent is not valid because their was the refusal of an other occupant. Beside on the Fourth Amendment it states that â€Å" a valid warrantless entry and search of a premises when the police obtain the voluntary consent of an occupant who shares, or is reasonably believed to share, common authority over the property, and no present co-tenant objects.† Dissenting Opinion Said by Justice Scalia â€Å" It is an act of responsible citi... .... Madison was applied to this decision because the actions committed were unconstitutional. According to the Supreme Court the 8th Amendment was broken because the District Court of Appeal was giving a cruel and unusual punishment to Graham. The 8th amendment claus does not allow a juvenile offender to be sentenced to life in jail without a parole for a non-homicidal crime. Therefore Terrance could not fall through with this punishment. Opinion In my opinion, I actually agree with the court decision because yes although he did committed a crime, to be sentenced for life at young age is pretty harsh. I do agree that he should pay for his consequences but not to that extreme. They should honestly come up with a plan that suits his crime. Plus he has the right of the 8th Amendment, to not condone a cruel punishment if it does not suit the crime in which he committed.

The Business Activities Study

This case study is related to the business activities of a hedge fund which performs a macro investment strategy. Its investment manager Troy Dexter seeks for profits which arise from shifts in the real economy. As he considers an end of the Australian housing market boom as likely, he anticipates that Australia's overall economic growth will slow down, whereas the prices for energy will go up. In reaction to those expectations he decides to purchase treasury bonds and stocks of energy companies Against this background Case Study 1 is aimed at classifying Troy Dexter's two investment decisions as either direct or indirect investments. Such a classification provides different results depending on the party from whose perspective it is assessed. Thus, it is the purpose of the following section of this work to distinguish between the terms direct and indirect investment based on the corresponding point of view using practical illustrations whenever possible. This is to be done after clarifying key terms associated therewith first. Term definition A hedge fund is an alternative investment vehicle which excessively uses financial instruments such as derivatives and leverage and in which an aggressive management strategy is usually applied (Fung & Hsieh, 2004). As Capocci and Hà ¼bner (2004) state, a hedge fund's major purpose is to generate active return (called alpha) for its typically wealthy investor base. As hedge funds are less exposed to capital market regulation than other fund types, they are able to generate – on average – higher returns, but associated with higher levels of risk as well (Lederman, 2012). Troy's decision to purchase energy stocks is related to his expectation of rising oil prices. Given his expectation turns out to be correct, the share price of oil producing companies will increase. The term â€Å"energy stock market†, however, comprises not only oil producing companies, but all other kinds of energy producing firms, as well as energy infrastructure and energy service providers, too (Henriques & Sadorsky, 2008). As Henriques and Sadorsky (2008) note, a rise in the oil price will not only increase the share price of oil and gas producers, but also the market value of those firms which offer substitutes (e.g. solar and wind energy) will increase. This holds as their products become more competitive in such an environment and their turnover is likely to increase. Stockholders who have purchased such stocks directly for their own stock portfolio before a rise in the oil price has taken place, will profit. Their profits, on the one hand, consist of the 4 chance to sell those shares at a higher price at the stock market and, on the other hand, of (increased) dividend payments (Bodie, 2013). Treasury bonds purchased in the debt market are usually characterized by less risk than any kind of stock market investment (Sharpe et al., 1999). Given Troy's expectation about the future economic environment of Australia, his decision to purchase such long-term fixed interest debt instruments is reasonable. This holds as they are issued by the Australian government which is very unlikely to default (Chaudhuri ; Smiles, 2004). On the contrary, as the Australian government has several tools at hand which allows it to make interest payments as promised (e.g. increase taxes), a treasury bond is considered as one of the safest investment forms available in the market (Hull et al., 2005). Investors who have decided to hold treasury bonds in their stock portfolio (direct security investment) can expect a fixed interest on their investment. The historic development of the Australian 10-year treasury bond is illustrated below.   Source: Reserve Bank of Australia, 2017. From this graph it can be derived that the long term trend of Australian treasury bonds is downward sloping. Starting from a level of more than 10.0% in 1995, the interest rate went down to about 3.0% in 2013. Interest rates in the short run are stagnating on a relatively low level of about 3.0%. Based on the fact that Troy Dexter has founded the hedge fund in 2009, it can be stated that his decision was right in the short run: Interest rates, indeed, went up from 4.0% to 6.0% between January 2009 and January 2010. However, it has to be noted that in the subsequent years his expectation turned out to be incorrect: Starting from January 2011, interest rates on the Australian 10-year treasury bond went down to about 3.0% in January 2013. This implies for Troy Dexter as the fund manager that his hedge fund may have generated losses from 2011 onwards as the interest rate of Australian treasury bonds have lacked his expectations. The figure adds value to the topic of this work as it illustrates that the fund manager's decision to invest in treasury bonds could not have been a smart decision in the long run: Fund investors are indirectly suffering from this decision as they have decided to provide Troy Dexter with parts of their funds which are now invested in a non-optimal security. 1. Direct vs. indirect securities – Northwest Capital Management perspective In order to classify Northwest Capital Management's investments in treasury bonds and energy stocks from the firm's perspective, one has to understand the business concept of capital management firms first. Firms such as Troy Dexter's hedge fund business aim at professionally managing private investor's funds. They do so by investing customers' money in a broad range of asset classes, restricted by particular investment goals (Fung ; Hsieh, 2001). However, as Brav et al. (2010) notice, the service such firms provide is not just related to the optimum asset allocation, but financial statement analysis as well as the monitoring of existing investments plays an important role, too. Hedge funds – in contrast to more conservative capital management firms – invest a relatively high percentage of its assets in risky asset classes such as the stock market of even emerging market economies (Jansen et al., 1998). The portfolio composition of an exemplary hedge fund is illustrated in the graph below. Source: Blair, 2001. The figure above already reveals that it is the hedge fund manager Troy Dexter who is responsible for the investment decisions of his fund and who chooses between the above asset classes (asset allocation). It is important to understand that the private investor is not involved in the daily investment process of the hedge fund, but hands over any responsibility for the invested amount of money to Troy Dexter. 0.50% 0.50% 31% 19% 15% 14% 7% 6% 3% 2% 2% Strategy composition of a hedge fund Short selling Other Equity long/short Macro Relative value arbitrage Event driven Fixed income Convertible arbitrage Distressed securities/high yield Equity markets neutral Emerging markets 6 Derived from this line of reasoning it can be stated that Troy Dexter's intended purchase of treasury bonds and energy stocks can be considered as a direct securities investment from the firm's point of view. This holds, because there is no third party involved in Troy's securities acquisition process (Bodie, 2013). In contrast, it is likely to be assumed that Troy himself owns a trading platform which he can use to exercise any stock market transactions personally and immediately. Even if Troy does not own such a trading platform, the consultation of a stock broker can still be considered as a direct securities investment from Northwest Capital Management's point of view. This holds because a stock broker can simply be considered as an entity which executes buy and sell orders on behalf of someone else for a particular fee or commission (Pollock et al., 2004). As Pollock et al. (2014) note, brokers are not allowed to alter the order, but execute the transaction only. 2. Direct vs. indirect securities – Investor perspective Taking the viewpoint of an investor in Troy Dexter's hedge fund, Troy's investment decisions can clearly be considered as indirect investments. As stated above, the fund manager decides about the allocation across available asset classes. The investor knows about the financial risks tied to Troy's investment decisions from the prospectus and may have expectations about a desired return, but cannot alter Troy's daily sell and buy orders. However, this would be a vitally important characteristic of a direct securities investment. As soon as customers have decided to invest in the fund, they have to sign a declaration of consent in which they transfer the responsibility for managing their funds to the portfolio management team (in our case to Troy Dexter) (Philpot ; Jonson, 2007). Not the investors themselves engage a broker who carries out financial market transactions, but Troy Dexter does that on behalf of them using his financial market knowledge. In this context it is important to note that – although restrictions are less strict in a hedge fund – fund managers have to stick to the proposed fund objective and are not allowed to invest in anything which is not related to the praised goal of the fund, although it may be a lucrative investment (Philpot ; Jonson, 2007). This assignment of any kind of right to alter the investment decision related to maximizing investors' own monetary wealth underpins the indirect nature of a fund investment from an investor's point of view. The incentives for customers of Northwest Capital Management to provide Troy Dexter with the rights to manage their savings on behalf of them (indirect investment) is related to Troy Dexter's expertise about financial markets (Capon et al., 1996). Additionally, as Capon et al. (1996) state, the pooling of large amounts of money in the hedge fund provides customers with a lot more market power than they would have when investing on their own. This shows that although private investors cannot actively decide about each investment decision on their own, the indirect securities investment through Troy Dexter's Northwest Capital Management is utterly worthwhile for its investor base. It can be summarized that investing in a hedge fund implies no direct securities investment from the private investors' perspective. This is compounded by the fact that private investors of a hedge fund do not own any securities themselves (Droms & Walker, 1996). Instead, those securities are entirely controlled by the fund managers who either own a trading platform themselves or contact brokers to carry out deals which are likely to benefit the fund's investor base. Shareholders are not able to access the fund's existing investments on a daily basis, but have to rely on the fund managers' expertise (Droms ; Walker, 1996). This trust, however, may be the basis for higher returns compared to investing individually on any kind of capital market. 7 Furthermore, the indirect securities investment from the investor's point of view implies that each single investor gains or loses proportionally to his or her investment in Troy Dexter's hedge fund. This fact stands in sharp contrast to a direct securities investment in which an investor is on his own and has a claim on any gains and losses related to this investment (Bodie, 2013). Instead of having the chance to convert profits right away in a direct securities investment, an indirect investment via a fund prohibits an investor from this right and makes him dependent on the decisions of the fund manager. Recommendations: A common way of how to classify securities is to divide them into either direct or indirect securities. In this context it is of particular importance to distinguish between either an investment manager's or a private investor's perspective (Davis, 2004). Conclusion: The statements above have shown that the classification of any kind of investment as being either direct or indirect depends on the party from whose perspective such a classification is made. In the case of a hedge fund one can categorize an investment as an indirect one from the investor perspective and as a direct one from the fund manager's perspective. This holds as it is not the investor who makes any kind of investment decision, but the fund manager on his behalf. The investor puts trust in the fund manager's capital market expertise when deciding to invest in a fund and – at the same time – cedes any kind of rights to alter the fund manager's perspective on the future development of the capital market. In contrast, the fund manager, on a daily basis, has to directly â€Å"step† in the capital market and has to sell or buy certain types of investments. References Blair, F. (2001): Managing the equity portfolio: South-Western College Publishing. Bodie, Z. (2013): Investments: McGraw-Hill. Brav, A.; Jiang, W.; Kim, H. (2010): Hedge fund activism. A review. In: Foundations and Trends in Finance 4(3), p. 185–246. Capocci, D.; Hà ¼bner, G. (2004): Analysis of hedge fund performance. In: Journal of Empirical Finance 11(1), p. 55–89. Capon, N.; Fitzsimons, G. J.; Prince, R. A. (1996): An individual level analysis of the mutual fund investment decision. In: Journal of Financial Services Research 10(1), p. 59–82. Chaudhuri, K.; Smiles, S. (2004): Stock market and aggregate economic activity. Evidence from Australia. In: Applied Financial Economics 14(2), p. 121–129. 8 Cristodoulou, A. (2016): The internal rate of return problems and manners of solution. In: Prospettive e Proposte Mediterranee-Rivista di Economia, Agricoltura e Ambiente. Online available at http://www.iamb.it/share/img_new_medit_articoli/802_32cristodoulou.pdf. Davis, E. P. (2004): Institutional investors. In: MIT press. Droms, W. G.; Walker, D. A. (1996): Mutual fund investment performance. In: The Quarterly Review of Economics and Finance 36(3), p. 347–363. Fung, W.; Hsieh, D. A. (2001): The risk in hedge fund strategies. Theory and evidence from trend followers. In: Review of Financial Studies 14(2), p. 313–341. Fung, W.; Hsieh, D. A. (2004): Hedge fund benchmarks. A risk-based approach. In: Financial Analysts Journal 60(5), p. 65–80. Hasan M. (2013): Capital budgeting Techniques used by small manufacturing companies. In: Journal of Service Science and Management. Henriques, I.; Sadorsky, P. (2008): Oil prices and the stock prices of alternative energy companies. In: Energy Economics 30(3), p. 998–1010. Hull, J. C.; Preduescu, M.; White, A. (2005): Bond prices, default probabilities and risk premiums. In: Working paper. Jansen, A.; Mathieson, M. D. J.; Eichengreen, M. B. J.; Kodres, M. L. E.; Chadha, M. B.; Sharma, M. S. (1998): Hedge funds and financial market dynamics 166. Jung, K.; Yong-Cheol, K.; Stulz, R. M. (1996): Timing, investment opportunities, managerial discretion, and the security issue decision. In: Journal of Financial Economics 42(2), p. 159-186. Layton, A., Robinson, T., & Tucker, I. (2015): Economics for today (5th ed.). Thomson, South Melbourne, Australia. Lederman, S. J. (2012): Hedge fund regulation. Philpot, J.; Jonson, D. T. (2007): Mutual fund performance and fund prospectus clarity. In: Journal of Financial Services Marketing 11(3), p. 211–216. Pollock, T. G.; Porac, J. F.; Wade, J. B. (2004): Constructing deal networks. Brokers as network architects in the US IPO market and other examples. In: Academy of Management Review 29(1), p. 50–72. Reserve Bank of Australia (2017). Online available at http://www.rba.gov.au/statistics/historicaldata.html. Rudolph, S. (2008): Net Present Value Rule in comparison to the payback and internal rate of return methods. In: Working Paper. Sharpe, W. F.; Alexander, G. J.; Bailey, J. V. (1999): Investments: Upper Saddle River, NJ: Prentice-Hall 6. Titman, Sheridan (2015): Financial Management. Principles and Applications. (7th ed.). Frenchs Forest, NSW: Pearson.