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The Educational Process Of Education - 996 Words

THE EDUCATIONAL PROCESS What is Education? Education is more than just a white or black board or a marker or chalk. Education is a process that deals with engaging the mind and spirit of students to think divergently, creatively and intellectually. Education is not a system but an organ used to stimulate conversations, improve skills and acquire mastery. Education is an investment is the future and life as a whole. Education is tool students can use to develop and find out who they help them live independently and adapt to the society. Imagine a class room where the teacher is just feeding the students with knowledge and not asking for their opinions. The students will be bored with no enthusiasm to learn. Paulo Freire talks about, â€Å"The ‘Banking Concept of Education†. He states, â€Å"Education thus becomes an act of depositing, in which the students are the depositories and the teacher is the depositor†. Emerole 2 Freire (1). He calls it the, â€Å"narration sickness†. 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The possible ways of reducing global differences in wealth Free Essays

The biggest drop in percent of population living on $1 or less occurs in East Asia and Pacific, this followed suit with the globalisation of the world, with TNCs spreading across continents. East Asia, china and India have seen the biggest influx of foreign direct aid and seen a massive expansion in their secondary sector. This has brought a surge of higher paying jobs and improved the livelihood of many. We will write a custom essay sample on The possible ways of reducing global differences in wealth or any similar topic only for you Order Now The global implications of this have created a different economic climate with increasing power shifting from America to Asia. The standard rich and poor divide is becoming increasingly blurry with many eastern Asian countries moulding the global future. The implications could be dangerous, though economically China is inspiring, socially and environmentally the country is still in the dark ages and with power shifting are say on human rights and environmental damage is becoming slowly quieter. Sub-Saharan Africa has shown little change in the percentage of population living on $1 or less. This contradicts the fact that aid has increased dramatically since 1981, showing that aid has little effect on long term success of a country. The poor inhabitants of Africa has allowed many multinational companies to take advantage of the low paying subsistence farming and have managed to shift control from them to the to TNCs. Cash cropping has become a common place in Africa, with a high dependency on the technology and capabilities of the MEDC companies. Eastern Europe and Central Asia have seen an increase in the percent ever since the 1990s, the breakdown of communism and caused a vacuum of development as Europe must spread into the global era. Being slow to take up globalisation the countries of Eastern Europe have seen an increase in poverty as the countries in East Asia and South Asia attract the sights of TNCs. b) With reference to specific examples evaluate the possible ways of reducing global differences in wealth. With connections between the rich and the poor becoming increasingly stronger in the global era, it is becoming increasingly harder to ignore our personal effects on the less fortunate. Ties created in a different social era have suppressed the development of the less economically developed countries. We have a responsibility to assess our impacts and create a suitable response if we are ever to progress to a world were boundaries no longer exist. The globalisation of the North and South divide has not allowed countries to exploit their potential but instead allowed the power countries to strengthen their hold over the poorer countries. Can we continue to chuck aid aimlessly at countries, increasing their dependence or must our strategies incorporate the social and environmental differences for their true independence? During the 1900s, many less economically developed countries took advantage of the economic stable environment that allowed small interest rates on loans. Seeing an easy solution to quick development, LEDCs blindly took many loans to fund their own economic and social environments, but the year of 1982 brought a sudden increase of world interest rates. The oil crises placed many poor countries into a spiral of unimaginable debt with the only solution being to take out more loans, only creating a short period of stability. So is the solution simply to cancel all debt the â€Å"forgive and forget† idea or will it create more problems than it is worth? Most poor countries own billions of pounds of debt, governments of these countries are forced to increase tax, sell of assets (land and resources cheaply) and are easily influenced by the powerful countries. Tourism is one of the biggest industries in the world, and with a set of wealthy countries with wealthy inhabitants wanting to see the warm and different sections of the world; it poses a great asset that many LEDCs can exploit. The individual and unique locations that many LEDCs own means that tourism could offer a possible solution to the wealthy divide. But a hidden danger lies in this so called silver bullet. Many LEDCs see the opportunity of tourism, but the exploitation of this has placed most of the inhabitants of the hot country feeling subjugated. Vietnam is a classical example of a naturally beautiful country with high amounts of debt, its unique social lifestyle and unspoiled countryside has attracted many people. Unfortunately the government has placed too much emphasis on tourism and society has felt the re-precautions. With wealthy westerners and their bulging wallets, the Vietnamese government has done what it can to part the people with their money. This includes selling land in rural areas used as farming for subsistence farmers to build hotels and tourist attractions. Forcing people out of their villages to create a fake village aimed solely at selling souvenirs and creating money thus creating social hostility as age old traditions are placed on hold for the welcoming of the westerners. In one case in a small village called Hanoi, a small battle took place as builders fought with the locals for a section of land destined for a supermarket. Even though tourism is a possible source of money and if tapped properly can benefit Vietnam, the reality is often less fair. Most money made by tourism is often injected back into tourism, many used for infrastructure and amenities is designed for westerners. Supermarkets and hotels are unlikely to benefit the locals with most jobs not going to local population, even if tourism has a positive effect on the locals, they are often highly dependent on the tourists seasons and good weather. Many resorts in Vietnam are owned and controlled by TNCs, removing the major economic benefits to their base countries often in the MEDCs. Tourism is a powerful industry but as seen in Vietnam can often just be an extension of the western world, the original purpose of advancing the country through careful exploitation of their country can often create hostility or great dependence on the wealth of the MEDCs. If the countries are ever going to develop they can’t solely base their economic status on the money of the powerful ones. Aid is seen by many people and governments as simply helping the poor, but the fact is giving aid is more complex than is expected. Aid is identified as the transfer of resources encouraging economic growth in developing countries, but simply saying we are giving money to LEDCs doesn’t make it aid. Foreign aid is aid given by more economically developed countries and must fit the criteria of not giving commercial benefits for the donor country, but most aid has strings attached. For example the British government has funded many projects in LEDCs including Malaysia’s Pergau hydro-electric dam scheme. i234 million pounds was given as conditional aid to Malaysia but soon came out that in conjunction Malaysia was signed to numerous million pounds defence contracts. Short term aid and charitable organisations should also ways be welcome. Emergency aid is essential for any country both MEDC and LEDC and charitable organisations is specialised aid that is appropriate for many countries while pumping aid into infrastructure that is widely inappropriate for the peoples social and economic development will again only create another dependency. Fair trade is an old idea, but only in recent years has become more prominent as consumer demands change to recent awareness of poverty. It is a simple idea that doesn’t require huge funds into countries and aims to level the playing field of the trading game. In Ethiopia, banana prices were at a 50 year low and with a continuous increase in banana production it was set to further decrease. Essentially producers were competing with other local producers unaware the rare deal they have. Ethiopia has a wealth of resources and the fractured banana industry has only allowed TNCs and countries to exploit the fragile industry, placing the producers with little power to negotiate. This is where fair trade bananas took hold. By joining numerous producers together offering increased profit and not reducing quality, they are given more power over the export business. Fair trade offers consumers a moral choice, though more expensive than supermarket brands it hasn’t dampened the fair trade business. Fair trade works simply because it doesn’t rely on funding; it relies on creating a sustainable and suitable environment for primary industry to flourish. MEDCs do rely heavily on LEDCs and their primary production, but simply bulling and controlling the world market has lead to an uninspiring industry. The key word is sustainable development of industry, unlike foreign aid which can fluctuate and sometimes doesn’t directly go to the people who need it, fair trade is aimed at the most poverty stricken societies. The future of the world depends on the united front of all the countries, if we are ever going to be able to progress as a society we have a responsibility to breakdown the invisible walls that separate us. This can’t be done by taking pity or forcing our help on to them we must create a global climate for them to grow and develop without being constricted by the politics and greediness of the power countries. The simple fact is most LEDCs have the capabilities and resources to remove themselves from poverty, and given the chance will be able to. Though our responsibility in their future should be little, we must object to political terrorism and dictators and even our dictatorial control. Most LEDCs should develop without the influences of the western world; they are individual countries that should exploit the needs of the western world. The less economically developed countries must stand on their own two feet, without the pillars of the MEDC telling them were to stand. 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Corporate Governance and Directors †Free Samples to Students

Question: Discuss about the Corporate Governance and Directors. Answer: Introduction Good corporate governance in Australia prominently supports a board which is independent in nature, specifically with regards the companies which are listed in the ASX. As per the ASX Corporate Governance Principles and Recommendations 1, more than 50 percent of the members in the board should not be dependent or related in any way. If the board thinks that it would not follow the said recommendation, then it will have to state the reason behind the said decision[1]. The theory which talks behind the said statement is that the directors should not be prejudiced by anybody or such linkages in any manner which would intervene with the implementation of their imaginative and autonomous judgement. As directors of IPO Insurance Limited, both Peter and Jane are legally bound and accountable to the company under the common law, fiduciary duties and statute law. There responsibility comprises of performing the duties in such a manner so as to ensure that there does not exist any conflict of interest, they perform their duties with care and diligence and for a purpose which is best suited for the health of the company and last but not the least, to use the position they hold and data they possess in a proper manner. Although a board can very well have a mix of executive and non-executive directors as there lies no such proof that a board with independent directors will only perform to the best interest of the company[2]. Executive directors are to perform dual functions, one of a senior executive such as CFO and the other of a board member. In the eyes of law, even if they are employees of a company on a full time basis yet they have to comply with the basic duties and responsibilities entrusted on the directors. The same is a common phenomena in companies which are listed in the stock exchange or even those whose scale of operations are large[3]. The role of an executive director and so that of Peter was a confusing one. The board of directors is a committee which is appointed to work in a manner which would be in the best interest of the shareholders. Generally, it is the CEO who is a part of the executive team of the board but there may be times when the CFO is also appointed as one. Further to this, there are certain duties of being a part of the board which are not apt for an executive director to perform, such as a CFO serving on the audit committee. In Australia, an executive director holds a fiduciary duty towards the company. As per Section 181(1) of the Corporations Act 2001, a director is expected to perform his duties in good faith which is best for the health of the company. Thus Peter should perform his duties as an executive director with due care and diligence, honestly and must not mis-utilize the power of his position as a CFO[4]. As per the court case of Vines, the CFO who is also acting as an executive director, is expected to elevate issues for discussion with the board[5]. Last but not the least, it is the duty of a director to ensure that the financial records are maintained adequately and all the transactions are recorded transparently and correctly, else it would lead to contravention of the Corporations Act 2001. As per the Corporations Act 2001, a non-executive director is a person who is not an employee of the company. However, a non-executive director is not similar to an independent director as the latter not even has any relations with the company but for being a director unlike the former. But even then some of the basic duties which govern the executive directors, does govern the non-executive directors as well. The UKs Higgs Review details non-executive directors as custodians of the governance process.[6] The main elements of the role and responsibility of a non-executive director includes development of strategy for the proposals, monitoring of the performance of the management as to how successful it has been in meeting up with the aims and objectives of the corporation and how honest is the financial information being disclosed in the statements. A non-executive director also is generally a part of various other sub-committees such as Jane being a part of the audit committee. Further as per the Listing Rule 12.7, an audit committee further should only comprise of directors who are not executive in nature[7]. Thus Jane is rightly appointed to be a part of the audit committee. As is understood from above, both the executive and non-executive director i.e. Peter and Jane have breached their duty of care to IPO while adopting the 2016 financial report due to which their share prices suffered and so the shareholders also had to face a huge loss. First and foremost, Peter being a CFO of IPO cannot be a part of the audit committee, although his appointment as an executive director is right. Holding of a position which one is not permitted to is in contravention of the Act[8]. Further, Peter being into the operations of the management has an additional duty to ensure that the books of accounts reveals the correct information, but Belinda the assessor who is also related to Peter does not disclose the actual claims which the company has to meet towards the flood loss. Peter also agreed to the same so as to give a rosy picture which would help in the merger with BMP. Thus Peter in this case has breached his duty of care and diligence towards the shareholders of IP O. He has not performed his functions which would best fit the purpose of the company by hiding the main data which would show the true picture of the profitability[9]. Secondly, being a non-executive director, Jane should have at least acted independently and not accept the financial information. Neither has any provisioning been done nor has the claims management been accounted for properly in the financials. Jane although had raised an eyebrow when the financials were presented, yet the same was endorsed by Jane. He ultimately believed Peter without probing into the matter. Thus being a non-executive director, Jane failed to exercise due care and diligence while agreeing to whatever Peter had to present in the financial report. Until and unless proper evidences were checked, Jane should not have accepted the same even if it was agreed upon by other directors. By not qualifying his opinion to the financial report presented by Peter, Jane as a non-executive director breached his duty of care by not acting successfully as a custodian to the governance process[10]. Bibliography Corporations Act (2001) (Cth) Corporate Governance Principles and Recommendations, (2nd ed), ASX Corporate Governance Council, Sydney, 2010 Directors - What are my duties as a director? Australian Securities and Investment Commission https://asic.gov.au/regulatory-resources/insolvency/insolvency-for-directors/directors-what-are-my-duties-as-a-director/#3 Flint, Geoffrey, Non-Executive Directors General Law Duty of Care and Delegation of Duty: But do we need a Common Law Duty of Care? (1997) 9Bond Law Review196 https://epublications.bond.edu.au/cgi/viewcontent.cgi?article=1132context=blr Higgs D, Review of the Role and Effectivenss of Non-Executive Directors, Department of Trade and Industry, London, 2003, p 11. Lester, Tim and Joanna Yoon,Corporate governance and directors' duties in Australia: overview(January 1, 2017) https://uk.practicallaw.thomsonreuters.com/1-502-9743?transitionType=DefaultcontextData=(sc.Default)firstPage=truebhcp=1 R Baxt,Duties and Responsibilities management of Directors and Officers(20th ed), Australian Institute of Company Directors, Sydney, 2012 Role of non-Executive directors(2016) https://www.companydirectors.com.au/~/media/cd2/resources/director-resources/director-tools/pdf/05446-1-11-mem-director-tools-bc-non-executive-directors_a4_web.ashx General Duties of Directors(January 2013) Australian Institute of Company Directors https://aicd.companydirectors.com.au/resources/all-sectors/roles-duties-and-responsibilities/general-duties-of-directors Vines was the CFO and executive director of GIO Group. See(2003) 48 ACSR 291for the judgment and[2007] NSWCA 75for the April 2007 decision in the NSW Court of Appeal.

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Security Policy for Kruger Exporters

Security Policy for Kruger Exporters Introduction An information security policy is a document that is designed by an organization for the purpose of providing employees with best practices when it comes to the use of the organizations technology equipment and related services.Advertising We will write a custom term paper sample on Security Policy for Kruger Exporters specifically for you for only $16.05 $11/page Learn More It may also be regarded as a blue print used by an organization to ensure that staff use the available technology services as intended. An information security policy is also a tool through which an organization can specify the responsibilities of different individuals concerning the security of information in the organization. It gives a framework for maintenance and provides information security policies and procedures as well as what is expected of end users (Whitman Mattord, 2010). Generally, the information security policy document is a useful guide for the successful deployment of an information security program across an organization. The information security policy must directly support an organization’s vision and mission statements. It must also be defensible in case legal challenges to it arise. It is an executive level document, drafted in consultation with the CIO and other executives. Typically, the information security policy shapes the security philosophy in an organization’s information technology environment. In most cases, the information security policy is a static document that is never subjected to frequent changes. However, it may change when the direction being taken by an organization radically changes. The information security policy will also protect the availability, integrity, confidentiality, and authenticity of information. Furthermore, it underpins such societal goods as privacy, the protection of digital identity, and the protection of intellectual property. This paper presents an information security pol icy for Kruger Exporters, an international exporter based in the United States of America. The company has its headquarters in the United States but with a presence in Africa and Asia.Advertising Looking for term paper on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More All transactions are centrally administered at the U.S. office. The information security policy fro Kruger Exporters is presented in two distinct sections. The first section discusses the introductory aspect of the information security policy while the second section presents the information security policy criterion which outlines how the company will go about guarantee the security of its information systems as well as the use of its technology equipment and services. Information Security Policy for Kruger Exporters With the increased use of technology, organizations are left with no choice but to work hard in ensuring that the use of technology in information management is secure and very reliable. To accomplish this, a well thought out information security policy is of paramount importance. Without an effective information security policy in place, organizations will be faced with a tough responsibility of controlling the use of its information systems and other technology services. More importantly, a working information security policy system will enable an organization to retain its customers and make good use of its information technology services. If the growth of Kruger Exporters ecommerce transactions is to be reinforced, it is obvious, that security of these transactions must be dealt with effectively. Considering that Kruger Exporters is a global organization with branches and customers located in different continents, much of its business transactions take place through the Internet. As such, the company is certainly faced with numerous challenges having to do with how to secure its ecommerce transactions besid es ensuring that its information technology equipment and services are not abused by anyone.Advertising We will write a custom term paper sample on Security Policy for Kruger Exporters specifically for you for only $16.05 $11/page Learn More As the Chief Information Officer at Kruger Exporters, I present the following security policy that will be useful to ensure that the company meets its information technology requirements. As stated earlier, this is given in two separate sections. Policy Introduction Document Information Generally, the use of technology presents serious challenges to organizations that are embracing its usage in its operations. Since its inception in the 1970s, for example, the Internet has exhibited vulnerabilities in its underlying communications network and nodes, protocols, network administration and host systems. Ordinarily, these vulnerabilities have often been located in the security mechanisms of the hosts, example being the abil ity to obtain unauthorized privileged access, and the ability to gain unauthorized access to passwords. In addition, commercial usage of the Internet has introduced new threats such as interception of data in transit by competitors or criminals. Hackers, competitors, disgruntled employees and former employees have been exploiting Internet vulnerabilities to meet their own selfish ambitions. Due to these developments, organizations have been forced to acknowledge the changed nature of the Internet environment from being friendly to being competitive and hostile. Given that Kruger Exporters conducts most of its business through the Internet, security is critical especially if the company is to gain the confidence of its distinguished customers. Apparently, there is now also increasing alarm within Kruger Exporters over threats emanating from its own trusted employees. For example, an employee can send information over the Internet to a global audience, yet falsely presenting himself o r herself as a spokesperson for the company. In other words, Kruger Exporters is not only vulnerable to Internet threats from outside its boundaries, but it also presents a threat to other Internet participants.Advertising Looking for term paper on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More This security policy document will provide a clear statement of the information security policy, and this must be communicated to all users as well as any other relevant parties. The policy will be placed in a file and will be available to all users at all times. Moreover, it will be communicated to the users as part of providing access to the systems within the company. In generating Kruger Exporters information security policy regarding the use of its technology related services, at least seven key areas must be addressed. These seven areas may be regarded as sub policies within the information security policy and include the organization’s technology acceptable usage policy, employee acceptable usage policy, Internet acceptable usage policy, Internet information protection policy, Internet information publication policy, Internet information access policy, and Internet employee privacy policy. Typically, these sub policies provide a strong guide for the access and use of t he technology equipment as well as Internet services offered by Kruger Exporters. Audience Considering the type of business that Kruger Exporters is involved in, this document is intended for the company’s staff who are scattered across different continents. However, it is important to note that Kruger Exporters also interacts with many other people within and outside the company in order to get certain things done. Among them are third party service providers and regulatory bodies. The audience thus goes beyond staff in the company. Ideally, this security policy will make employees at Kruger Exporters responsible and accountable for understanding and following information security rules, policies for ensuring that employees use available mechanisms to protect their systems, and site specific policies. Purpose As earlier explained, the challenges that may be faced by Kruger Exporters demand a well designed solution in the form of an information security policy embedded with p rocedures and mechanism of handling security related issues. This information security policy and associated procedures will convey security guidance and rules to be used by all staff at Kruger Exporters as far as access and usage of Internet and other technology related services in the company is concerned. Scope As noted earlier, this information security policy will cover staff and any other third party individuals and organizations that interact with Kruger Exporters in the course of carrying out its business. However, despite the fact that others may be covered by this information security policy, Kruger Exporters’ staff at the different locations are the major users of the company’s technology services, especially the Internet, and are, therefore, the main target of this information security policy. Policy Criteria Objectives This information security policy criterion is meant to ensure that all staff members at Kruger Exporters, regardless of where they are, hav e a reliable and well maintained information security policy which serves as a guide on how to using the company’s systems and information technology services in such a way that security is not compromised. When staff members have an understanding of the implications of not following the set guidelines, they are more likely to follow them without making excuses. Although not following a policy may have no major effect on the business processes of Kruger Exporters, the need to have an effective information security policy in place is very important and can not be underestimated if Kruger Exporters is to secure it operations and remain competitive (Artiges, 2004). The Chief Information Officer at Kruger Exporters will identify some members of his or her information technology department to assist other users in ensuring that information security policy is properly followed. In addition, others will be given the authority to enforce the use of the policy. Compliances All staff a t Kruger Exporters will be required to comply with all the guidelines put in place by the Chief Information Officer. Failure to comply will certainly call for tough disciplinary measures against the offenders. The guidelines are, therefore, necessary in order to get every user doing what the institution expects of him or her. Responsibilities The main responsibility of ensuring that every user abides by the set rules and regulations lies with the Chief Information Officer. However, the CIO may select members of his or her information technology department to assist with the implementation. Where necessary, the CIO will get the support of the top management to ensure that set guidelines are followed and that every user is fully aware of what they need to do as far as security issues are concerned. Despite the fact that the CIO and his team have the responsibility to train all users and make sure that they understand what has to be done, it is also the responsibility of the individual users to learn and ensure that they understand the institution’s expectations on them. Implementation The following is the criteria to be followed by Kruger Exporters to guarantee paramount security for its information and use of technology services within the institution. Considering the type of services that may be useful to staff at Kruger Exporters, two things must be addressed by the information security policy. First, there is the implementation and management of a firewall and secondly, there is the use of digital certificates. These are explained as follows. Firewall Implementation and Management Firewalls are a very critical security asset that may be used by Kruger Exporters to protect its information resources (Plotkin, Wells Wimmer, 2003). It is vital that all firewalls be configured, implemented, and maintained in a standardized and secure manner. In response to the risk discussed previously, this subsection describes Kruger Exporters’ official policy re garding the implementation and management of a firewall. Configuration and Implementation Among the most critical configuration and implementation considerations for Kruger Exporters are: Operating System Before a firewall can be implemented on an operating system, the operating system must be fully secured and tested in accordance with the regulations determined by the Chief Information Officer. Kruger Exporters’ Operating Systems Standards should be consulted for direction. Responsibility Before implementation, an administrator must be identified as responsible for the firewall. The administrator should be fully responsible for maintaining both the firewall software and the underlying operating system. The administrator may select up to two other individuals to assist in maintaining the firewall. However, these individuals must be approved by the Chief Information Officer. Access Only the administrator and his or her approved assistant or assistants may access the firewall and operating system. Only the firewall administrators may have administrative access to the operating system and firewall software. Default Rule All of Kruger Exporters’ firewalls are based on this premise. That which is not expressly permitted is, therefore, denied. Maintenance Two important considerations under maintenance are logs and the rules that accompany how these logs will be handled. Logs The firewall administrator is responsible for ensuring the daily review and archiving of firewall logs. Rules It is only the firewall administrator who is authorized to make any changes on how the firewall is to be administered. All requests must, therefore, be forwarded to the firewall administrator and be approved by the Chief Information Officer prior to the enactment of any changes. Use of Digital Certificates Generally, digital certificates are issued by Certificate Authorities and are used to authenticate users and ensure that only the right people gain access to information across the company. It is, however, important to understand that technologies themselves have never solved any problems. People must know where, when, and how to use them in the context of solving their security needs. As a major requirement, the Chief Information Officer must ensure that a company wide directive on the use of digital certificates is present and followed properly. Proper implementation of this policy will ensure that any person using digital certificates does so by following the guidelines outlined by Kruger Exporters’ Chief Information Officer. Controls In generally, controls, safeguards, and counter measures are terms that are used for security mechanisms, policies, and procedures. These mechanisms, policies, and procedures counter attacks, reduce risks, resolve vulnerabilities, and otherwise improve the general state of information systems security within the organization (Cade Roberts, 2002). In the case of Kruger Exporters three general categories of co ntrols may be implemented. These are controls for policies, programs, and technologies. Policies are documents that specify Kruger Exporters approach to security. Four types of security policies will be put in place. They include general security policies, program security policies, issue specific policies, and system specific policies. The general security policy is an executive level document that outlines the company’s approach and attitude toward information security and clearly states the strategic value of information security within the company. This document will be created by the Chief Information Officer in conjunction with the Chief Executive Officer and will set the tone for all subsequent security activities. The program security policy is a planning document that outlines the whole process of implementing security in the company. This policy is the blue print for the analysis, design and implementation of security. Issue specific policies will address the specif ic implementations or applications of which users should be aware. These policies are typically developed to provide detailed instructions and restrictions associated with security issues. To be covered in this category are policies for Internet use, email, and access to buildings. Finally, system specific policies will address the particular use of certain systems. These will include firewall configuration policies, system access policies, and other technical consideration areas. Different parts of the information security policy will be reinforced by among other, the Chief Information Officer, the system administrators, and the institution’s op management. Third party organizations will also be involved where necessary. For example, the use of digital certificates will require the cooperation of Certificate Authorities. Internet Services Providers will also be involved to ensure that security policy is not compromised. Table 1 presents a summary of some of the components of Kruger Exporters’ information security policy document. Table 1: Information Security Policy Components Security Policy Section Why it is Needed Consequence of Absence Roles and Responsibilities This will ensure that users know what is expected of them Users get confused as they do not know what is expected of them Security Awareness and Training This will help users to know security policies and how they can be accessed Users will not know the nature of the policy or even how to access it Access Control This helps to prevent unauthorized access to the institution’s resources May lead to resources being accessed by unauthorized persons Password Policy To help user understand the risk of not keeping passwords secretly Passwords may be exposed to unauthorized persons Email Policy This controls how email is used across the institution Email services may be abused by staff and students at Kruger Exporters Conclusion Information security is now every compan y’s concern. The way we live and do business is underwritten by information system infrastructures, with the Internet usage being the most foundational of them. Spoken plainly, information security today protects the ability of an organization to function. In spite of the fact that the use of technology related services has come with numerous benefits to both individuals and organizations, this has been accompanied with several challenges that must be addressed to ensure profitable use. In order to deal with such challenges, it is essential for any organization to have a strong information security policy in place that will caution it and its employees against the abuse and improper use of technology services. This paper has proposed an information security policy that should be used by Kruger Exporters to meet the above objective. This information security policy provides guidance to all staff at Kruger Exporters regarding the use of Internet and other technology related ser vices offered by the company. Beyond doubt, an effective information security policy document is of great importance and must, therefore, be a well thought out and designed document. References Artiges, M. (2004). Bea Weblogic Server 8.1: Unleashed. USA: Sams Publishing. Cade, M., Roberts, S. (2002). Sun Certified Enterprise Architect for J2ee Technology: Study Guide. California: Prentice Hall Professional. Plotkin, M. E., Wells, B., Wimmer, K. A. (2003). Ecommerce Law Business. New York, NY: Aspen Publishers Online. Whitman, M. E., Mattord, H. J. (2010). Management of Information Security. Boston, MA: Cengage Learning.

Industrial tourism Essay Example | Topics and Well Written Essays - 1000 words

Industrial tourism - Essay Example One of the things that Abbey hates most about modernity is the construction of highways and access roads through or into wildernesses and national parks, whether it is to connect distant places or to make them more accessible. According to him, the roads and highways reduce the â€Å"old magic† of real, genuine amusement that comes from using less-motorized means to explore the wild such as walking on foot or using bicycles. He strongly accuses the notion that the purpose of the roads is to enhance accessibility so that more people can experience nature in lesser time. To him, accessibility is just a curtain to blind the people of modernity’s real intention, which to him is making money. His argument is that no place is inaccessible if one is willing to, and that accessibility does not make sense since people have been too extreme regions of the world unaided by heavy motorized mechanisms. â€Å"What does accessibility mean? ...even Mount McKinley, even Everest, have b een summoned by men on foot †¦Ã¢â‚¬  (Abbey 47). The second reason why Abbey is against modernity is that whatever it claims to be doing for the people is not true, claiming that the industrialization of tourism is merely for monetary gain. From his perspective, the motels, automotive industries, oil corporations, gas retailers, road constructors, and all other parties involved in the modernization of nature are all in the industry to make money, and that they care for neither the people nor nature itself. In addition, he reveals that in addition to being big business, it is a well-organized cartel inspired by the politics of the land. As he puts it, â€Å"Industrial Tourism is a big business. It means money †¦ and are represented in Congress with strength far greater than is justified†¦Ã¢â‚¬  (48). Abbey offers some corrective measures to change the attitudes of people from the ones already stained by modernization. For one, people should not take automobiles to n ational parks or in the wilderness. Just like they are not taking them to churches for their being â€Å"holy† so be it with parks as they are also holy. He suggests that people should be more natural: use their feet or enter the parks on animal backs. Second, he recommends that further construction of roads in the parks should stop, and the already existing roads to remain for use by those on bicycles. Lastly, he says that park rangers should do their work; to go out into the parks to guard and guide visitors, and not sit behind desks in booths selling tickets. Abbey adds that these measures will bring back the good old days of hiking, camping, and enjoying the wild in its natural form, not to mention that it is cheaper than using motorized assistance. He argues quite sensibly. If one forecasts the future, in the days when the population will have expanded, then it means the need for constructing more roads to connect more cities and towns that will have come up will grow. T his means more roads will appear in the wild. In addition, if we do not respect the natural parks and the wilderness, it means our population will lead to our encroaching on the natural geographies to create more dwelling places. Therefore, his argument for the monitoring of the growing population is very true. Abbey however chips in a little acknowledgement

AUSTRALIAN Company Law - the 4 step process and short answer questions Essay

AUSTRALIAN Company Law - the 4 step process and short answer questions - Essay Example Under the Act as quoted above, there are three major entities defined in relation to the case and these are Catering WA as a corporate entity, Jasmine Trendy as a partner in the firm, and Adam, who acts as another partner. Given the positions of these three major entities, it would be noted from the case that s17 of the Act holds none else but Jasmine, who is a partner within the company liable for her acts, which has brought upon breaches of the company’s internal constitution. In a manner that Catering WA was never officially notified of the actions or intentions of Jasmine, the condition of the law that ‘if a partner in a firm other than an incorporated limited partnership’ becomes binding and excludes Catering WA from any wrong doing. In inference, it is only under a circumstance where Catering WA had acted in the negotiation by giving Jasmine the matching audacity to undertake the said purchases that the company would have had itself binding to the committed breach of use of the company money in making external purchases. On the part of Adam, there is only one premise under which he could be found liable in this instance and that is if premise (2) of s17 is found to apply in his case. In the said provision of the Act, it is stated that: But because Adam is outside Western Australia, he may well have a justification that even though the constitution of the company is in the public domain, he never had personal access to it and so could not be affected by the liability because he the partner ‘knew about the breach of trust.’ In the recent case Wright Prospecting Pty Limited -V- Hancock Prospecting Pty Limited [No 9] [2010] WASC 44, a practice of â€Å"prohibition in temporary reserves on entry into any arrangement to transfer the property without ministerial consent† was permitted primarily under the s 7 of the Property Law Act 1969 (WA) because the partner in the firm, which in this case was the Ministry

What's Your Definition of Happiness Essay Example | Topics and Well Written Essays - 1000 words

What's Your Definition of Happiness - Essay Example As I take it, then, well-being is synonymous with persons own good, welfare, or interest. To say that something contributes to one's well-being is simply to say that it is in one's interest, that it is good for one, or that it makes one's life go better. Understood as such, well-being is an inherently evaluative concept: when we say that something promotes one's welfare, we ascribe a certain type of value to that thing. In particular, we identify it as having prudential value (Silverstein, 2000, p. 279) Ascribing values to objects is certainly an interpretive process, but what has value, the object or the perceiver’s interpretation of the object. One would have to posit that the object is inherently valueless other than the value it may have to itself. Myers and Diener have found in their research that although money has been said to buy happiness, its value can often be short-lived: Wealth, it seems, is like health: its absence can breed misery, yet having it is no guarantee of happiness. In one survey, people on Forbes’s list of wealthiest Americans reported only slightly greater happiness than other Americans; 37% were less happy than the average American. Even lottery winners gain only a temporary jolt of joy. (Myers and Diener, 1995, p. 13) Over time there have been many attempts to discern what true happiness is. Also, attempting to resolve the difference between happiness and pleasure has been a key component of this search. This stretches back to Aristotle who states emphatically that they are different. Pleasure, he poses, has its origin in the survival needs of an organism to preserve itself, quite an early Darwinian attitude. So, no matter how much pleasure or joy can be associated with certain activities done for their own sake, Aristotle refused to identify pleasure with happiness.  Ã‚  

The Unbiased Predictors Of Future Spot Rates Finance Essay

The Unbiased Predictors Of Future Spot Rates Finance Essay Market efficiency is a concept that is controversial and attracts strong views, pros and cons, partly because of differences between individuals about what it really means and partly because it is a core belief that, in large part, determines how an investor approaches investing. This report provides a simple definition of market efficiency considers the implication of an efficient market for investors and summarizes some of the basic approaches that are used to investment schemes, thereby proving or disproving market efficiency. Besides this, in this report I am going to examine whether the forward exchange rates are unbiased predictors of future spot rates or not. As foreign exchange markets are composed of various theories and internationally accepted principles there are no consensus about the theories and implications. Efficient market Levich (1983) defines an efficient market as a market, where prices fully reflects all available public and private information. Efficient market is the market in which the security prices reflect all available information and adjust instantly to any new information. It therefore means that the market is efficient when forward rates accurately forecasts future spot rates. Salavatore (1993) argues that markets are efficient when prices correctly reflect the scarcity of the various resources resulting in allocation efficiency. Efficiency therefore, will also mean that economic agents will not be able to earn unusual profits by exploiting the available information. The history of efficient market hypothesis could be traced back at least to the 1920s. In modern times Fama (1970) is credited as presenting a scholarly abstraction of efficient market hypothesis (EMH). According to his definition, there are three types of efficient market, depending upon the extent of the information reflected in the market: Weak form: a market is said to be weak-form efficient if there is no relationship between the past price changes and the future price changes, in short the prices are independent. No trading rules can be developed to make abnormal returns based on the past history of an assets prices or returns. Semi-strong form: semi-strong form EMH states that no abnormal profits or returns can be made by developing a trading rule based on publically available information. The semi-strong from encompasses the weak form because past history is publically available. Public information also includes non-market information, e.g. economic news, company accounts and stock splits. Strong form: In a strong efficient market not only public but also private information is available which can tell about future spot rates. Therefore no group of investors will be able to consistently derive any above-average profits. So the strong form states that the market should be perfect in which all the information is available to everyone at the same time. Efficient market hypothesis The efficient market hypothesis (EMH) has played an important role in understanding foreign exchange market efficiency especially in the past few decades. It states that if economic agents are risk-neutral; all available information is used rationally; the market is competitive; there are no taxes, transaction costs, or other frictions; then the foreign exchange market will be efficient in the sense that the expected rate of return to speculation in the forward exchange market will be zero (Geweke and Feige, 1979 and Hansan and Hodrick, 1980). The EMH also implies that since forward rates fully reflect available information concerning investors expectations of future spot rates, the forward rates should be unbiased forecasts of the future spot rates. Technically, an efficient market is one in which observed exchange rate deviations from their long run value can be explained within information and transaction costs. So, in the absence of any new and relevant information, exchange rate s will reflect their fundamental values and there will be no opportunities for deriving above-average profits. Thus excess profit or return from business can be defined as: Zj, tâ‚ ¬Ã‚ «1 rj, tâ‚ ¬Ã‚ «1 E (rj, tâ‚ ¬Ã‚ «1 It) â‚ ¬Ã‚ ½Ã¢â€š ¬Ã‚  Ã¢â€š ¬Ã‚  Ã¢â€š ¬Ã‚ ­Ã¢â€š ¬Ã‚   (1) Where rj, t+1 is the actual one period rate of return for holding currency j in the period ending at time t+1 and E (rj, t+1|It) is the expected value of that return conditional on the information set available at t. according to equation the foreign exchange market is efficient if, on average, expectation errors are zero. [E (zj, t+1|It) =0] and these errors follow no pattern that might be exploited to produce profits (zj, t is uncorrelated with zj, k+1 for any value of k). . Implications of EMH in exchange rates In the case of exchange rates, a serious complication exists in the application of the EMH. At one time, it was assumed that the forward exchange rate represented the markets expectation of the actual future value of the exchange rate. However, it is now realized that this need not be the case if risk aversion is a significant factor limiting international capital flows. Alternative theories about the causes of the bias in the forward rate are surveyed by Froot and Thaler (1990). A necessary arithmetic relation exists between the forward rate and the interest differential. For example, if the Canadian interest rate is 1 percentage point higher than its U.S. counterpart, then the one year forward rate for the Canadian dollar must represent a 1 percent depreciation of the Canadian dollar vis-a-vis the U.S. dollar. This is called covered interest arbitrage, and if it did not hold then an opportunity would be available to make a riskless excess profit by lending in one country or the oth er. The forward rate is the mirror image of the interest rate differential that prevails between Canada and the United States, and in principle either one of the could be the cause of the other. If the forward rate were the markets actual expectation of the future value of the spot exchange rate, it would imply that interest rate differentials are determined by the expected change in the exchange rate embodied in the forward rate. In that case, Canada could have a higher interest rate than the United States only because the market expected the Canadian dollar to decline correspondingly in the coming year. To sum up, two alternatives are possible as to what the actual market expectation of the dollars future value is. Suppose the spot rate is 80 cents, the one-year forward rate is 77 cents, and the Canadian one-year interest rate is 3 percentage points higher than its U.S. counterpart. This could mean either: The market expects that the Canadian dollar will decline 3 percent over the coming year, and this is why money does not continue to flood into Canada until it eliminates the interest differential. (This would imply that the forward rate is the EMH predictor of the one-year-ahead exchange rate, because it always shows a 3 percent depreciation when the Canadian interest rate is 3 percentage points higher). Alternatively, the market expects the exchange rate to stay about where it is now. In that case, why doesnt an infinite amount of money flood into Canada to eliminate that wide interest differential? Because, while the central expectation is that the Canadian dollar will remain unchanged, there is a perceived risk that it might depreciate as much as, perhaps, 10 percent, and it may also appreciate 10 percent. But if investors are risk averse, they will put greater weight on the risk of depreciation, and limit their investments in Canada at such a point that the Canadian interest rate remains well above the U.S. interest rates. Either one of these alternatives is possible. Therefore, EMH does not make any clear prediction about what the future value of the dollar will be. Forward exchange rates are unbiased predictors of future spot rates Forward rate is the currently determined rate of exchange for a transaction to be carried out in the future. For example, the 90-day forward rate is the exchange rate to be applied to a transaction which is agreed to be completed at the end of 90 days from the date of agreement. The spot exchange rate prevailing in the market at the end of the 90-day period may be referred as the future spot rate. To find whether forward rate can be used to predict the future spot rate or not, there is a hypothesis, which postulates that the forward exchange rates are unbiased predictors of future spot rates in the exchange market. Technically speaking, an unbiased predictor is one that is just likely to overestimate as to underestimate a value, but these errors in the opposite directions are likely to offset each other in the long run. As discussed above this hypothesis is based on the assumption that for the major free floating currencies, the foreign exchange markets are reasonably efficient. Let us discuss this in light of an example: The 30-day forward rate of British Pounds is $1.40 and the general expectation of speculation is that the future rate of pound will be $1.45 in 30 days. Since speculator expect the future spot rate to be $1.45 and then sell them when received (in 30 days) at the spot rate existing then. If their forecast is correct, they will earn $.05 per pound, i.e. $1.45 $1.40. If a large number of speculators implement this strategy, the substantial forward purchases of pounds will cause the forward rate to increase until the speculative demand stops. Perhaps this demand will terminate when the forward rate reaches $1.45, since at this rate no profit will be expected by implementing the strategy. Thus the forward rate moves toward the markets general expectation of the future spot rate. In this sense the forward rate serves as the market based forecast of predictor of the future spot rate, as it reflects the markets expectation of the spot rate at the end of the forward horizon (30 days in this case). It can also be implied, If todays expectation of future exchange rate is unbiased, and if the forward and future prices equal that expectation, we would find that todays forward, on an average and in the long run equal the subsequently observed spot exchange rate. Thus there are two things to be considered: first, does the forward price equal the markets expectation of the future exchange rate? Second, is todays expectation of the future spot exchange rate unbiased? That is, does todays expectation of the future spot exchange rate equal the actual observed rate? Unfortunately, there is no truly accurate way to observe todays market expectation of future exchange rates. Therefore, most tests assume that the market expectation is an unbiased estimate of future spot exchange rate. Under this assumption scholars have tested the relationship between the forward and observed spot rate. They test the following equivalence: F0, t = St à ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦ (1) Where, F0, t = the forward price at t=0 for contract expiring at time t and St = the spot exchange rate observed at time t. Testing the equivalence in above equation determines whether the forward price is a good estimate of the future spot rate of exchange. Even if there are large deviations between the two prices in equation, it is still possible that the forward price would provide a prediction of the future spot rate. An unbiased predictor is a predictor whose expected value equals the variable being predicted. In other words, if the quantity F0, t St equals zero, on average, the forward prices would provide an unbiased estimate of the future spot rate of exchange. Although the forward rates are predictors of future spot rates, but only in the condition of risk-neutrality. If risk neutral spectaculars are available in sufficient quantity, their profit-seeking activity will drive the future prices toward equality with the expected future spot price. And there are many factors which affect the future spot exchange rates like interest rates, inflation rates and price levels. So, the linkages among interest rates, price levels, expected inflation and exchange rates emphasizes the fundamental relationship that exists between the forward and future foreign exchange prices, on the one hand, and the expected future value of the currencies, on the other. To investigate this relationship let us consider the table shown in appendix. It can be seen that in the left panel, a set of consistent exchange rates, interest rates, expected inflation rates and tortilla prices are presented for March 20, 2009. The right panel presents the expected spot exchange rate for March 20, 2010, along with expected tortilla prices, consistent with the expected levels of inflation in Mexico and United States. Assuming, all of these values hold and that the expected spot exchange rate in one year is MP 11 per dollar. With the Mar, 2010 future prices of 10.45 MP/$, a speculative opportunity exists as follows. A speculator might buy futures contract for the delivery of dollars in one year for MP 10.45/$. If the expectation that the dollar will be worth MP 11 in one year, will be correct, the speculator will earn a profit that results from acquiring a dollar via the futures market for MP10.45 and selling it for the price of MP 11. If we assume that risk-neutral speculators are present in the foreign exchange market, the discrepancy betwe en the future prices of 10.45 MP/$ and an expected spot exchange rate of 11 MP/$ (at the time the future contract matures) cannot exist. In fact, given a profusion of risk-neutral speculators, the only expected spot exchange rate to prevail on March 20, 2010, which would eliminate the incentive to speculate, would be 10.45 MP/$. Of course, different market participants have different expectations regarding inflation rates and expected future spot exchange rates, and this difference in expectations is the necessary requirement for speculation. No predictor is perfect; therefore, it is possible that the forward or future prices may seem to be error-ridden. While earlier studies generally found that forward exchange prices are were predictors of future spot rates, later studies clearly find bias and large errors in the future forecasts of subsequent spot prices. In summary, the errors in forecasts of future exchange rates appear to be large and biases do seem to exist in these forecasts, although the biases appear to be too small to allow profitable exploitation of efficient markets. Conclusion: Famas 1965 insight- Efficient Market Hypothesis (EMH) irreversibly changed the way we look at financial markets. The impact of the theory of efficient markets has proven to be durable and seems likely to continue to be so, despite its inevitable and painfully obvious limitations. And there have been a number of studies of the forecasting accuracy of future and forward exchange rates. Most of these studies find significant errors or biases in the future based forecasts. However, compared with most professional forecasting services, the forward exchange rates still provides a superior forecast of future spot rates. Only if the investors are risk-neutral, then the forward rates may be a guide for predicting and determining the future spot rate. But normally, the investors are risk- averse and they need some amount of premium over and above the forward rate and because of this premium the forward rate alone cannot shape the future spot rate. References: Aggarwal, R., Mohanty, K.S. Lin, T.W. (2008). Are forward exchange rates rational forecast of future spot rates? An improved econometric analysis for the major currencies. Multinational finance journal. 20 (2), pp-22-25. Ball, R. (2009). The global financial crises and the efficient market hypothesis: what have we learned? Journal of applied corporate finance, forthcoming. November, 5. Available at: http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1502815 Accessed at: 1st May, 2010 Buser, A.S., Karolyi, A.G. Sanders, B.A. (1996). Adjusted forward rates as predictors of future spot rates. April, 1996. Available at: http://papers.ssrn.com/sol3/papers.cfm?abstract_id=40165 Accessed at: 3rd May, 2010 Fama, E. (1970). Efficient capital markets: A review of theory and empirical work. Journal of finance, 25, pp- 383-417. Froot, Kenneth A   Thaler, Richard H,  1990. Foreign Exchange, Journal of Economic Perspectives, American Economic Association, vol. 4(3), pages 179-92 Geweke, J. Feige, E. (1979). some joint test of efficiency of markets for forward foreign exchange, review of economics and statistics, 61, 334-41 Hansen, L.P. Hodricks, R.J. (1980). Forward exchange rates as optimal predictors of future spot rates: An economic analysis, Journal of political economy, 88, 829-53. Kolb, W.R. Overdahl, A.J. (2007). Futures, options and swaps (5th Eds). Oxford: Blackwell publishing. Kumar, V.R. (2007). Testing forward rate unbiasedness in India: an econometric analysis of Indo-US forex market. International research journal of finance and economics, 12(4), pp 56-66. Levich, R.M. (1983). Exchange rate forecasting techniques, in George, A.M and Giddy, I.H. (Eds). International finance handbook. New York: Wiley. Nguyen, J. (2004). The efficient market hypothesis: Is it applicable to the foreign exchange market? Economics working paper series. University of Wollongong. Available at: http://www.uow.edu.au/content/groups/public/@web/@commerce/@econ/documents/doc/uow012181.pdf Accessed at: 30th April, 2010 Salvatore, D. (1993). International economics. New York: Mac Millan Publishing. Sarno, L. Taylor, P.M. (2002). The economics of exchange rates. Cambridge: Cambridge university press. Sharan, V. (2009). International financial management (5th Eds). New Delhi: PHI. Stanley, M. (2009). Market efficiency and risk management. The journal of applied corporate finance, 21(4), pp- 98-99.

The Peoples Princess Essay examples -- essays research papers

Diana Frances Spencer was born on July 1, 1961 in Sandringham, Norfolk. Her parents, John and Frances Spencer, were hoping for a boy to carry on the Spencer name. It took them nearly a week to come up with a name for the baby girl. Eighteen months earlier, her mother had giver birth to a baby boy, but he was so sick that he only survived for ten hours. Lady Frances, twenty three at the time, was sent to many specialists to find out the reason why she could not have a little boy. Three years after Diana was born, Lady Frances gave birth to a healthy baby boy, Charles. Diana had been christened in Sandringham Church with well-to-do commoners for godparents. Charles, on the other hand, was christened in Westminster Abbey with the Queen of England as his godparent. As a child, Diana spent most of her time playing outside. Close to her home were many woods, horse stables, and they owned a heated swimming pool. The woods were filled with rabbits, foxes, deer, and other animals. As she grew older, she also grew a great love for animals. She also had a love for children. At age eighteen, she became a teachers assistant. She taught dance, drawing, and painting to kindergarten students. When she was six years old, her mother left her father for another man. She went between her mother's townhouse and her father's country estates. Both parents got re-married, so she had two step-parents to please. Because of Diana's royal background, she earned an invitation to Prince Charles's thirtieth birthday party. This is were the two met for the first time. There were hundreds of people at the party, but Charles couldn't take his eyes off of Diana. A few months later, the two became a couple. "The news about Charles and Diana's love soon spread. The shy young teacher's aide quickly became famous. Everyone wanted to know if the Prince had finally found his Princess. "The answer came in February 1981. Prince Charles asked Lady Diana to be his wife. Blushing with happiness, Diana accepted. The fairy tale had begun-and Diana's life would never be the same."1 During their engagement, Diana frequently visited Buckingham Palace, and the Queen of England for roya... ...imply immersed by duty and tradition but can sing openly as you planned. We fully respect the heritage into which they have both been born, and will always respect and encourage them in their royal role. But we, like you, recognize the need for them to experience as many different aspects of life as possible, to arm them spiritually and emotionally for the years ahead. I know you would have expected nothing less from us. William and Harry, we all care desperately for you today. We are all chewed up with sadness at the loss of a woman who wasn't even our mother. How great your suffering is we cannot even imagine. I would like to end by thanking God for the small mercies he has shown us at this dreadful time; for taking Diana at her most beautiful and radiant and when she had so much joy in her private life. Above all, we give thanks for the life of a woman I am so proud to be able to call my sister: the unique, the complex, the extraordinary and irreplaceable Diana, whose beauty, both internal and external, will never be extinguished from our minds."

The 3 Types of Economic Systems

The 3 Types of Economic Systems – Centrally planned economy – Mixed economy – Market economyCentrally planned economySystem in which a nation’s resources are owned by the government. Came from the ideology that the welfare of the group is more important than individual well being, the idea came from Karl Marx. The decline of Centrally planned economies was in the 1980’s nations began to dismantle communist central planning in favor of market based economy. Mixed economyEconomic system in which resources are more equally divide between private and government ownership. It came from the idea that a successful system must be not only efficient and innovative but should also protect society. Most economies around the world are mixed economies but most mixed economies are trying to convert more of a market economy. This is called â€Å"Privatization† or â€Å"Privatizing†. Market EconomyThe majority of nations resources are privately owned. Economic decisions are determined by supply and demand. Based on the belief that individual concerns should be placed above group concerns. The best features are free choice, free enterprise and price flexibility. The governments role is enforcing antitrust laws, preserving property rights, providing a stable fiscal and monetary environment and preserving political stability. Personally I would prefer to live in a mixed economy. I say this because it is the best kind of economic system in my eyes.A mixed economy lies between a free market economy and a centrally planned economy. A mixed economy combines elements from free market and centrally planned to create a more favorable economy. Most nations operate mixed economies with varying combinations of capitalist and socialist features. Some benefits of a mixed economy are free enterprise, private ownership, a â€Å"safety net† and the ability for the government to step in if needed. This is very appealing because the benefits are unmatched from the other two main economic systems.  I like the idea of private ownership and the government being able to step in during times of need, these two examples are the main reasons I prefer to live in a mixed economy.

All About Chinese Wedding Flowers

All About Chinese Wedding Flowers Chinese wedding flowers are used mostly as a decoration on tables at Chinese weddings and large bouquets of colorful flowers (typically pink and red) are often given to the bride and groom as gifts. These elaborate bouquets usually line the hall leading to the wedding reception. Some brides opt to carry a small bouquet though this is usually just for wedding photos. Lilies are popular Chinese wedding flowers because the word lily (ç™ ¾Ã¥ Ë†, bÇŽi hà ©) sounds like the ç™ ¾Ã¥ Ë† ( bÇŽi hà ©) part of the proverb ç™ ¾Ã¥ ¹ ´Ã¥ ¥ ½Ã¥ Ë† (BÇŽinin hÇŽo hà ©, happy union for one hundred years). The flower also represents bringer of sons. Orchids are another popular Chinese wedding flower. Orchids symbolize love and a married couple. Orchids also represent wealth and fortune. The lotus is also a popular Chinese wedding flower. A lotus bloom with a leaf and bud symbolizes a complete union. Two lotus blooms or a lotus and a blossom on one stem represent a wish for shared heart and harmony because è  · (hà ©) means union.

Robert Frost v. Pink Floyd essays

Robert Frost v. Pink Floyd essays From Robert Frost's Mending Wall to Pink Floyd's Another Brick in the Wall, humankind erects and maintains real and symbolic barriers to protect and defend opposing stances, beliefs and territories. Although each "wall" is different they serve the same purpose and both Frost and Floyd oppose them. Robert Frost's Mending Wall is a very popular poem. This poem consists of two characters: the narrator and his neighbor. In this poem the two neighbors are mending a stone wall that separates their property. The wall mending has been a pastime of the neighbors for many years and occurs every spring. Over the winter the wall has fallen victim to both hunters and the frozen ground and, therefore, contains gaps that must be filled. In the poem the narrator questions the sense of even mending the wall . He concludes that neither of the farms contain animals, only trees, which would be enough of a boundary. There is no physical need for the wall, so why go through the trouble of fixing it every year for no apparent reason. Although the narrator is right the ignorant neighbor insists that they mend the wall by saying "Good fences make good neighbors."(Frost) The neighbor repeats this saying although he doesn't know why the wall is necessary nor does he know why it will make them better neighbors . Frost is criticizing the ignorance of the neighbor here. Mending Wall, although it doesn't appear it on the surface, almost parallels to a popular Pink Floyd song, Another Brick in the Wall. The speakers of the song are students and the poem is directed towards teachers. In this song, as in Mending Wall, a barrier is discussed, but this time it is a phsycological barrier instead of a physical one. This barrier has been put up by society and is being built up by the teachers. The students are calling out against this building up of the wall. "All in all you're(teachers) just another brick in the wall."(Floyd) This barrier ...

MGMT499 - 1403B - 04 Individual Project 3 Research Paper

MGMT499 - 1403B - 04 Individual Project 3 - Research Paper Example Every supervisor in the department should be honest to ensure that the process is successful (Sargeson, 2009). Additionally, they should follow these instructions: All the supervisors will be graded according to the work they perform, ensuring that their grading is accurate and true. In this case, all their duties will be examined and accessed and their performance will be tracked to ensure that only the relevant information is acquired and filled in the performance grading form (Butera, 2013). The language must be communal on all aspects and the grading criteria must be consistence to enhance easy evaluation of their performances. Through this method, it will be easy to access the frontline supervisor performance. The grading criteria’s to use will include; unsatisfactory, below expectations, meets expectations, exceeds expectations and lastly, outstanding (Weiner, 2010). The supervisor will be graded accordingly, ensuring that the results are genuine. The criterion is very effective since every supervisor fits in one of the criteria’s. Consequently, it is effective in ensuring that all the qualities of a given supervisor, wheth er good, bad or worst are represented. All the weights are equal since every character is important for the supervisor to be characterized as perfect in performing his or her duties (6.67%). Administration: Have quality, effective and perfect administration and organizational skills. Eliminate all the unnecessary activities in the department and handle all activities with caution to enhance success. Communication: Have good communication skills such as listening to the juniors, effectively listening to their pleas and addressing their issues. Be timely while providing important information to the co-workers and the management Teamwork: Does the supervisor relate well with the employees under all conditions, especially, getting along easily with

Discussion 14 702 Assignment Example | Topics and Well Written Essays - 250 words

Discussion 14 702 - Assignment Example This leads to inefficiency and ineffectiveness and identifies significance of the program in facilitating development and application of contemporary nursing knowledge. The program has also informed me of the contemporary knowledge (Sieloff & Frey, 2007) and its diversity and applicability (Fawcett & DeSanto-Madeya, 2012). I am therefore prepared to assume an active role in development and use of contemporary nursing knowledge and in advocacy for mass transition to reliance on the knowledge for practice. I envision myself as a leader and an advocate of evidence based practice, and I shall pursue the vision through a number of strategies. I shall conduct and publish empirical based studies on effectiveness of evidence-based study in solving healthcare issues and use the results to advocate for the practice. I shall also rely on evidence-based practice in my clinical practice and seek diligence with the aim of demonstrating advantages of the practice. In addition, I shall motivate individuals, teams, and the entire organization through setting examples and through empowering nurses into evidence based practice. I shall rely on my organization’s top management to develop policies for application of evidence-based practice and to avail resources for the same. Resistance is expected at different levels of the organization due to financial implications and required change but I plan to use situational leadership style, with focus on charismatic and transformational styles, in ensur ing change towards use of evidence based practice (Kelly & Tazbir,

Choosing a Successor Case Study Example | Topics and Well Written Essays - 250 words

Choosing a Successor - Case Study Example Each candidate will be matched to a skill set and awarded points. Every skill earns equal points (5), but seniority/loyalty to the organization will score two points (2) for every year of service. According to the score, all candidates are nearly tied for their potential viability in the role of successor. Amanda scored the highest as a result of her tenure, however the capabilities related to solid leadership and communications (especially) are lacking. Felipe, though well-liked, lacks the fundamental skills required of professionals who are well-versed in more business practicality and understanding. Clearly, his leadership skills and human resources skills would be a credit to the position, but his experience as an administrator are lax. Tanisha, though known to be pompous and self-absorbed, managed to score highly in multiple dimensions required for the position without extra points for tenure. Tanisha is the most qualified candidate maintaining multiple competencies for this role, despite her lack of tenure. It is recommended to select Tanisha for the role due to the diversity of responsibilities required in this administrative role. Elements of her personality that are not favorable can be developed through training and consultation with superiors and through experience working in a responsibility-based position with diverse personalities. Based on all characteristics, Tanisha outperforms even those with longer

The Two Gentlemen of Verona by William Shakespeare Essay Example for Free

The Two Gentlemen of Verona by William Shakespeare Essay â€Å"Proteus is an early sea-god and one of several deities whom Homer calls the Old Man of the Sea. His name suggests the first, as protogonos is the firstborn. He became the son of Poseidon in the Olympian or of Nereus and Doris, or of Oceanus and a Naiad, and was made the herdsman of Poseidons seals, the great bull seal at the center of the harem. He can foretell the future, and will answer only to someone who is capable of capturing him. And from this word came the adjective protean which means versatile, mutable, and capable of assuming many forms. It has positive connotations of flexibility, versatility and adaptability (www.http%3a//en.wikipedia.org/wiki/Protean)†.   I was able to watch the play, The Two Gentlemen of Verona by William Shakespeare last November 9. Here, I chose Proteus, who was one of the two gentlemen of Verona, as the character to be analyzed. Primarily, Proteus’ objective was to attend the court as his father Antonio believes that this should be the fate of a young man. However, this objective evolved into something different as the play progressed. Because his presence at the court became the way where he was reunited with his best friend and fell in love with Silvia. This was where all the complications started and gave twists to the lives of the characters in the play. He later was determined to win Silvia, the daughter of the Duke of Milan despite all odds. Proteus changed a lot in terms of his attitude as his affection for Silvia becomes an obsession. Because as Proteus met Silvia, he eventually forgot his lover Julia who was left behind at Verona. He did everything to win her including betraying his long-time friend Valentine who was the true love of Silvia. He became disloyal to Julia and a traitor to his best friend because of his obsession with Silvia. The characters in the play have direct effects on Proteus as the play progressed. For example, Valentine taught him how to be a good friend at the beginning of the play but later, they became rivals as they both fell in love with the same woman. He was trusted by Valentine that he confessed his plan to escape with Julia from the palace of the Duke but then betrayed Valentine by telling the Duke about their plan. This resulted to Valentine being exiled. Julia, Proteus’ lover, taught him what true love is, that she chose to disguise as a page and serve Proteus despite the fact that she was used by Proteus to pursue his interest on Silvia. Up until the end of the play, he showed Proteus what love really means. And Silvia, being so much in love with Valentine, showed Proteus how it is to be loyal to a lover as she managed to keep her trust and faithfulness with Valentine despite all the bad words Proteus told her about her lover. Until the end, Silvia taught Proteus how it is to be a great lover. Proteus as a character in the play did not show any inner conflicts about his desire to woo Silvia because he showed extreme determination to fulfill this. He neglected his love affair with Julia and betrayed his best friend for this objective. He even attempted to force himself to Silvia at the end of the play because he was so desperate. The actor used his body and skills very well to convey the character of Proteus. He stressed innocence through his eyes and voice and showed power and domination through his diction and face. He showed why the name Proteus is so fitted to the character as this name implies â€Å"a sea god who can change his shape at will† (http://www.viennatheatreproject.at/education/teachermaterial/) because he managed to fit his gestures and facial expressions in every scene of the play. SOURCES; The Shakespeare Project. (2004, October). William Shakespeare’s Ttwo Gentlemen of Verona: A Modern Version. Retrieved November 13, 2006 from http://www.viennatheatreproject.at/education/teachermaterial/Teacher_Material_TWO_GENTLEMEN_OF_VERONA.pdf#search=proteus%20%20objective%20on%20the%20play%20two%20men%20of%20verona Proteus (2006, November 7). Retrieved November 13, 2006 from http://en.wikipedia.org/wiki/Protean

History of the Barcode and Its Applications

History of the Barcode and Its Applications INTRODUCTION The innovation of barcodes has really emerged as one of the biggest innovation and it has been very influential for the inventory handlers. Especially if we look at the supermarkets it is a very tough business because it involves a lot of inventory handling. Maintaining inventory which is not too much and not too less is a very critical issue for the owners. But with the advent of this automatic readable technology things are quite easy and speedy nowadays. This paper tells us that how initially supermarkets had to manually count and keep track of their inventories and not only supermarkets but all the industries who involve handling of large amount of inventories had to come across high costs and it also took a lot of time, but the emergence of this remarkable innovation has speed up the processes which has eventually helped lowering costs, saving time and last but not the least in satisfying customers. This paper also focuses on the different types and dimensions of innovation and explains that how the innovation of barcodes fit into those dimensions. 2 BARCODES Standardized tags are the most prevalent of the programmed information passage strategies. It is an example of parallel bars and spaces of variable widths orchestrated in a particular decided example to speak to a comparing number, letter, or image. The data in a standardized tag is held in the relative thickness and relative position of the lines and spaces inside the particular information characters. Scanners change over the bars and spaces into usable data for information passage. HISTORY While it may appear as though standardized tags have been with us everlastingly, standardized tags didnt generally have an effect until the 1970s. It wasnt until 1974 that the first standardized identification scanner was utilized and the first item bar coded. Be that as it may the thought had been around for a short time. In 1932, Wallace Flint proposed that a mechanized retail checkout framework may be practical. While His idea was considered unworkable, Flint kept on supporting the thought of computerized checkout all through his vocation. Actually, Flint, who happened to turn into the VP of the relationship of evolved ways of life around 40 years after the fact, was instrumental in the improvement of the UPC (Universal Product Code). Throughout the 40s, 50s and 60s few code organizations were created including a bulls-eye code, numeral codes, and different arrangements. Retail applications drove the early innovative improvements of bar coding, yet mechanical applications soon emu lated. 3 Initial Uses of Bar Codes In 1948, a nearby natural pecking order store holder approached Drexel Institute of Technology in Philadelphia getting some information about exploration into a system for consequently perusing item data throughout checkout. Bernard Silver, a graduate understudy at Drexel Institute, alongside individual graduate learner Norman Joseph Woodland, teamed together to create an answer. Forest initially proposed utilizing ultraviolet light delicate ink. A working model was manufactured yet dismisses as being excessively unsteady and lavish. On October 20, 1949, Woodland and Silver succeeded in building a working model depicting their development as article arrangement†¦ through the medium of distinguishing examples. On October 7, 1952, they were allowed a patent for their Characterizing Apparatus and Method. Deliberations to create a working framework quickened in the 1960s.bar coding was initially utilized industrially as a part of 1966, yet to make the framework satisfactory to the b usiness overall there would need to be an industry standard. By 1970, Logicon Inc. had created the Universal Grocery Products Identification Code (UGPIC). The main organization to deliver standardized identification supplies for retail exchange (utilizing UGPIC) was the American organization Monarch Marking (1970), and for modern utilize, the British organization Plessey Telecommunications (1970).in 1972, a Kroger store in Cincinnati started utilizing a bulls-eye code. Throughout that same time period, an advisory group was structured inside the staple business to choose a standard code to be utilized as a part of the business. IBM proposed a configuration, based upon the UGPIC work and like todays UPC code. On April 3, 1973, the board chose the UPC image (focused around the IBM proposal) as the business standard. The accomplishment of the framework from that point forward has prodded on the improvement of other coding frameworks. George J. Laurer is viewed as the designer of U.p.c. alternately Uniform Product Code. In June of 1974, the first U.p.c. scanner was introduced at a Marshs general store in Troy, Ohio. The main item to have a standardized tag was Wrigleys Gum. 4 Today Today, standardized tags are all over the place. Rental auto organizations stay informed concerning their armada by method for standardized tags on the auto guard. Aerial transports track traveler gear, lessening the possibility of misfortune. NASA depends on standardized identifications to screen the many high temperature tiles that need to be supplanted after every space shuttle excursion, and the development of atomic waste is followed with a scanner tag stock framework. Standardized identifications even show up on people! Style fashioners stamp standardized tags on their models to help direction design shows. (The codes store data about what equips each one model ought to be wearing and when they are expected on the runway). New era of Bar Codes opens potential outcomes for new applications, for instance Data Matrix permits a lot of data to be put away in a little space. This is for instance is utilized within health awareness division. Scanner tags are as of now the best known a nd most generally utilized programmed ID engineering. Future The eventual fate of programmed ID, on the other hand, is likely in radio recurrence (RFID). Modest transmitters implanted in things dont oblige a viewable pathway to the scanner, nor are they subject to corruption by presentation. Effectively being used in retail locations to help forestall shoplifting and on toll streets to speed activity, the essential obstruction to more extensive utilization of RFID has been the expense of the silicon chips needed. Today, the five-penny chip is close nearby. On the off chance that the expense might be lessened to short of what one penny a chip, later on your breakfast oat box will be a radio transmitter. 5 THEORIES OF INNOVATION Developing a new product is not that easy as it may seem to be, it requires a lot of continuous effort and determination on the end of the producer. An innovative product is of great benefit not only to its users but it is of great value to the innovating firm as it generates higher value for the firm and allows the firm to enjoy a better competitive position in the market. But it should be kept in mind that developing an innovative does not means that the struggle has ended. When an innovative product enters a market it creates a lot of hype but as the time passes it may start to lose its uniqueness and its exciting features may start to fade, this might be due to competitors copying the product or the simply the users get bore of using it. Therefore, the companies have to strive continuously to maintain their innovation for a longer period of time. Similarly innovation can be in the form of better services which provide better quality and customer satisfaction at a price lower than the competitors. Financial markets involve service innovation as the try their level best to facilitate and satisfy their customers. But the innovative edge and this level of high satisfaction among the customers remains until the innovation is not imitated by the competitor. There remains a lot of pressure on the innovators to innovate continuously to maintain their strategic edge over the other firms and in order to do so some firms may look to bring some changes to the product design, some ponder over the quality, some try to wipe out their enemies by controlling and lowering the cost and some of the innovating firms look to bring changes into their processes. 6 So, the only way of maintaining your strategic advantage is to innovate continuously and there are several theories for it. S-curve The S-curve measures the adoption rate of an innovation. At x-axis we measure the time and the percentage of market penetration is measured at the y-axis. At its early stages the adoption rate of an innovation is at the lower side and only the innovators are accustomed to the product, afterwards some early adopters emerge as they try using the new product and finally the late majority and laggards come into act, all this pattern is visually shown by the S-shape curve. The process of innovation basically starts with a new idea. The stage is very crucial as there are very key questions to be answered by the innovating firm which include funding and testing of the new product as early adopters are ready to give a try to the new technology or new product or service. After the early adopters firm makes decisions on its target market and it is the point when the new product moves from specific segments to more diverse segments and the company starts shifting towards mass production which ultimately leads to standardization. Due to standardization market tends to mature. At the latter stage people who avoid risk or simply you can say late adopters join the party and start using the product. At this stage the only room left for innovation is in the form of design, quality and economies of scale which is known as incremental innovation. 7 Technology Push: A technology push is a situation when the firms are forced to carry out an innovative process due to some emerging technology or due to a new combination of existing technologies. Sometimes in order to stay in the market race and to maintain a good strategic advantage companies have to carry out an innovative process unwillingly, for instance if your competitor deploys new quality which enhances quality of the final product and increases its chances to be praised highly by the end users then you are forced to innovate and bring some new and exciting to match or surpass your competitor. On the other hand sometimes technological opportunities may provoke or push firms to innovate. Market pull: The ultimate goal of an organization is to maximize its profit and it is only possible if caters its market in an efficient manner. Sometimes need for a new product or solution to a problem may be demanded by the customers themselves. The need is identified by potential customers or market research. This situation is referred to as Market pull. Disruptive innovation The theory of disruptive innovation involves introduction of a product which is primarily aimed at providing simplicity, convenience, accessibility and affordability in an environment where 8 intricacy and high costs are the dominant factors. Initially disruptive information is applied to niche market but eventually the new concept or technology transforms the whole industry. Disruptive innovators are not regarded as breakthrough forces but they are considered a positive force they may not help in making a product or service better but they surely contribute a lot to make sure better accessibility and availability of the product or service. Breakthrough innovation As the name suggests breakthrough innovation is something like ‘’out of the box’’ solution for any problem which cannot be compared to existing technologies or methodologies. Mostly the research and development departments are responsible for this innovation and the process is carried out in the labs as it requires constant research. The innovators looking for breakthrough do not have customers in mind because this innovation is initially focused at the supply side of the supply chain and then if required the technology is pushed on to the customers. APPLICATION OF THEORIES The innovation of barcode according to me should be termed as process innovation as it totally changed the way the inventories were managed before, specially the cumbersome job of the supermarkets has seen a great relief by the advent of this automatic readable technology. Barcodes have reduced time and saved a lot of costs, initially supermarkets owners had to count all the items on their shelves to stay updates with the inventory status and they had to employ several people for this task which obviously resulted in higher costs and it suck a lot of time also. 9 This for companies has not only reduced costs or decreased the time but it has also been influential in satisfying customers, the customers do not have to wait for long for the bills on the counter, the barcode reader is flashed on the barcode which is on the product and the price of the product emerges in seconds on the cashier’s computer screen. According to S-curve initially the users of bar-coding system were limited as the early adopters of this remarkable innovation were the supermarket owners who actually initiated or felt the need for such a product but as this technology started getting recognition it was seen as a big hit and it was deployed by each and every industry which had to deal with bulks of inventory. The innovation of a barcode is a technological development as it completely revolutionized the way the inventories were handled. Barcode is a pure case of market pull as it was initiated from the market as a president of a supermarket felt the desperate need of this remarkable innovation. Apart from that it is also disruptive innovation as it has made the handling of inventory more convenient, accessible, time saving and less costly as it was ever before. Barcode can also easily be termed as breakthrough innovation because it has been a real out of the box thing, no one at the time of its introduction would have thought even for a second that something as remarkable as barcodes will come and ease up the complex lives of the inventory handlers. 10 Bibliography Brown, S. A. (April 2001). A History of the Bar Code. Herstatt, P. D. (August 2000). Management of â€Å"technology push† development projects. Ryan, V. (2013). WHAT IS MARKET PULL. Seideman, T. (n.d.). Barcodes Sweep the WorldTony Seideman. Tumati, P. (n.d.). Types of Innovations.