Career Research Paper (Mechanical Engineering at BMW M model) Part 2

Career (Mechanical Engineering at BMW M model) Part 2 - Research Paper Example Mechanics is associated with designing and working of machines and can be ascertained as the main department of all other branches of science. A degree in mechanical engineering can be helpful to obtain a job in automobile industry, wherein an opportunity to design cars and other vehicles along with conducting various research and development activities can be gained. As a mechanical engineer, students may get assistance in planning and designing vehicle parts. Therefore, it can be stated that mechanical engineering profession is of great importance in the automobile sector (Murthy 1-18). With this concern, the research paper intends to analyze the current demand for new hires in entry-level jobs relating to one of the companies operating in the automobile industry i.e. BMW Group. The company is regarded as one of the biggest manufacturers of cars, which provides job opportunities to those students who are pursuing a degree in mechanical engineering or searching job in the respective field. The various methods followed by the students in finding jobs in automobile sector have also been discussed in this research paper. Apart from this, utmost focus has been levied upon depicting the possible career growth path along with the compensation expected by the students at the entry level job and expected pay after gaining experiences (BMWGroup â€Å"A World of Opportunities†). The demand for mechanical engineers is high in automobile industry, as they possess the ability of playing the role of automotive engineers as well. A mechanical engineer can cover the entire job roles of an automotive engineer. Both mechanical and automotive engineer are required to design vehicles for the concerned companies to whom they are employed. A mechanical engineer has the skill to design various components and parts of the vehicles and above all, they also perform additional roles of ensuring greater safety

Federal emergency management agency (FEMA) Term Paper

Federal emergency management agency (FEMA) - Term Paper Example The FEMA also secures state and local governments with the resources and the expertise in specific areas where help is needed (FEMA, 2012a). They also provide funds for rebuilding; and release funds for infrastructure relief by allowing affected individuals to secure low interest loans. This agency also secures funds for the training of emergency response personnel within the US and other territories (FEMA, 2012a). The FEMA’s mission is to support citizens and â€Å"first responders to ensure that as a nation we work together to build, sustain, and improve our capability to prepare for, protect against, respond to, recover from and mitigate all hazards† (FEMA, 2012b). The goals of the FEMA include the preparation of communities for emergencies. In effect, it secures resources to improve the capacity of federal, state, and local government agencies in order to secure best practice and secure grants for local communities (Malcolm, 2012). Another goal of the FEMA is to mit igate the damage caused by disasters. These mitigation goals come about before and after disasters occur; this is when risk management is carried out before disasters and grants are offered for affected individuals in order to mitigate the impact of such disasters (Malcolm, 2012). Another goal is to protect communities from external threats and more importantly to respond to disasters and emergencies. Supporting recovery in communities impacted by disaster is also a significant goal for the FEMA (Malcolm, 2012). The objectives of this organization include the securing the participation of agency employees for the renewal process; emphasizing mitigation as a means of reducing the risks to people, property and communities of disasters; securing a culture of assistance among citizens by ensuring national emergency management partnerships; establishing an all-hazards resource in emergency management; maintaining close relationships with federal agencies in most areas of emergency manage ment; establishing flexibility in the state and local emergency management programs; securing a quick and effective administration in assistance claims; and establishing means by which the efficacy of the FEMA programs can be assessed (FEMA, 2012c). The structure of the FEMA leadership is primarily lodged with the President of the United States from whom main orders for the mobilization of the organization resides (FEMA, 2012d). The FEMA is headed by an administrator, assisted by a deputy administrator and the chief of staff. Staff members would include the directors for the following offices: Executive Secretariat, and the Office of the National Advisory Council. The Chief Counsel would also form part of the administrative staff, including the senior advisor to the Secretary for Emergency Management and the Deputy Administrator of the office for Protection and National Preparedness (FEMA, 2012d). Under the Protection and National Preparedness office are the following assistant dire ctors in specific areas: national preparedness, grant programs, national continuity programs, and the Office of National Capital Region Coordination. The Administrator for the US Fire Administration would also form an office under the FEMA administration (FEMA, 2012d). An associate administrator for t

Reviewing The Airasia Online Booking System Information Technology Essay

Reviewing The Airasia Online Booking System Information Technology Essay Help management to maintain their information for business use The management team can maintain their customer information for any emergency cases such as flight cancellation or delay due to the weather problem. They can also use the customer information to track on their preferences and travel pattern to keep them updated to a better plan that suits them. Besides that, it gives management the real-time information about the availability of seat on flight so that it will be all sold by not overbooking. The system is able to protect the customers privacy such as their personal information. Enables customer have a better journey planning The system provides customer a more flexible access mode as they can now make purchases by phone, Personal Digital Assistant (PDA), and internet. So, customer can make the reservation in an easier and faster way. They can book their airline ticket not matter when and where they are as long as there are internet asses even if they are at the overseas. They can now easily check for their ticket status by website or mobile phone. The system also reduces the customer effort in rescheduling their trip as it could reduce the searching effort they usually need to take. It can show all the possible itineraries available for the pair of origin to destination cities. Increase the company sales or revenue Company can maximise the income as the system help to increase the customer awareness about the various special offers and discount available. It also increases by minimising the number of empty seats available on the flight and maximising the flight capacity utilisation. It can offer a lower price ticket on their website as they could skip the intermediaries such as agency. Besides that, AirAsia who have a competitive advantage than its competitor such as Malaysia Airline System (MAS) or Firefly as the company give a cheaper price for the airline ticket to its customer. Therefore, this system help the company to create a new sales channel that enables them to save the commission need to pay to the agency and at the same time, it increases their profit margin. The users for the system above are: Travel Agency They selling travel related products and services to customers on behalf of suppliers such as flight ticket, accommodation packages and so on. Through using airline system, they will check various flight dates and times, arrange accommodation and then travel agent booking or group booking. Besides that, they will try their best to fit the tourist requirement such as providing meals on air. For travel agent booking, they must join Airasia as an authorized sales agent by having a valid license, also known as the SkyAgent . Businessman This is a person who involved in the management of a company. Most of the time they travel overseas in order to meet their client. Their major concern is about the transportation cost for flight and they would prefer to pick a business seat which has premium flat bed because it provides maximum comfort and spacious. In addition, they will feel more refresh after long distance travelling. Through [emailprotected],They also can carter airline service for the purpose of meeting, convention and for leisure with Boeing 737-300 or Airbus 320. Student and traveller They are people who always purchase individually through online booking, group booking or mobile booking. Besides that, they also like to purchase low cost fare flight ticket because most of them are from average family. Therefore they will try to get cheap ticket by keep searching it or wait for the promotion period. In order to get cheap flight ticket, they would choose economy seat which have hot seat and standard seat. For those who want to get the plane first, they are recommended to get hot seat rather than standard seat. Therefore, each user have different buying pattern such as group booking, individual booking and mobile booking. The differences from group booking and individual booking are the guest will need to pay a non-refundable service fee and deposit per guest. Secondly, the full guest list with identification card number and passport number must be extended to AirAsia one week before departure. For using mobile phone, you can book flight ticket, gets details on flight schedules and check in from anywhere. Question 2 (a) Function: Email as the communication tool Base on the AirAsia airline system, the system have provide emailing function to their customer. E-mail is a system of creating, sending and storing textual data in digital form over a network. It can send and receive messages electronically over a computer network, as between personal computers. In this 21st century, e-mail has become the most preferred tool for communication. AirAsia uses this function to advertise their promotion and services to their customer. If customer registers as a member of AirAsia, they can get some best perks from the AirAsia. Be a AirAsia member, they can receive their newsletters which make them have the first information about their latest low fares and other fantastic offers. AirAsia advertises this promotion and services to their members through the emailing .Through the email advertising allows AirAsia to grab their customer attention and interest immediately. Customer of AirAsia can get the lasted news as fast as possible by the email. Email is by far the fastest form of written communication. Customer can first to know more detail with the lasted news or promotion of AirAsia. Email can distribute information quickly to many people for the time it takes to email one person. No other service matches the e-mail in terms of speed. By the way, emailing is a fast and now the most popular business communication with customers, enabling us to reach an unlimited number of recipients at low cost. AirAsia using this function to delivered instantly, anywhere across the globe. It is because email is leverage. AirAsia are able to send out email messages to literally millions of clients. Recipients are able to receive the message and respond instantly by the email. The messages that send from AirAsia at a cost that is close to zero. They are able to mail a simple message to a few thousand individuals without any payment. Besides that, AirAsia using this emailing function in their customer service department. AirAsia have provide the 24 hour online service to their customer, especially is customer service department. When customers have some question or problem related with the AirAsia flight or their booking, it is able for them to ask by using the emailing function. Customer Service of  AirAsia also have provide some simple question and answer which is divide into 5 main category. It is easy for customer to search and find out their answer. If customer cant find what they want, they can contact the customer service of AirAsia through the email instantly. Through the emailing function of AirAsia provided, customer are able to update their information .Trough the function of emailing, it is possible to send automated e-mails using special programs. Hence, AirAsia able to send automated e-mails to their customer or member monthly or when have some special promotion. Email advertising that send by AirAsia can keeping their customer up to date with their promotion. Customer can refreshes their information and also able to know more detail and promotion that provide by AirAsia through the email. By the way, it is also easy for customer to do reference when customer needs to check back or reply their mail. There is a provision in the mailing system to attach the previous mails as references. This function can refresh the recipients knowledge, it also able for customer to reference back the important information. For the example like date for flight, their booking receipt number and some of the important data. Question 2 (b) Improvement on email function For my opinion, AirAsia need to make some improvement for their emailing function. Although emailing has brought a lot of advantages to their customer, however it also includes some disadvantages. AirAsia have to make some improvement for this function to make their service much better. Email is emotional responses. Some emails cause upset or anger. A reply in the heat of the moment cant be retracted. Through the emailing, people easy misunderstanding with the message. Hence, AirAsia can provide a video call system to their customer. Through the video call function, people easy to get the message or information. Cases of misunderstanding of customer will be decrease. With this video call function, customer service department of AirAsia are easy to get the message from their customer. They can easy get the message about the problem that customer facing, and reply their customer instantly. In the other hand, AirAsia can provide this video call function without any payment to their customer. Free video calling are able to attract more people to use this function. This function enables them to talk face -to-face with live video for free. Besides that, AirAsia also can create a system for car rental to customers. Some of the customer of AirAsia may need a vehicle as their transport, especially is visitor. Some of the visitor will rent a car as their transport. Hence, it was functionable if AirAsia have provided this car rental system for their customers. The client can book the car rental service from AirAsia. It was possible booking the flight ticket with car rental in AirAsia. It is very easy to booking a car rental through online. Customer just need to state about the pick-up and drop-off location, pick-up and drop-off date and car type. It was simple and easy to customer to book a car rental. With this function, visitor is able to save a lot of time and money to find the transport or vehicles. All of this suggestion can make AirAsia airline system better and complete. Question 2 (a) Function: Hotel booking, provide destination guide and book for tour activity. AirAsia has cooperated with many hotels around Asia Country allow traveler to made hotel booking on the AirAsia website. There are many users of this system such as individual traveler, corporate booking, travel agent booking or government booking. This system makes traveler more convenience because they can straightaway to book for the hotel accommodation after they book a flight in the same systems. Besides that, this system also provides users to make a comparison either in price, hotel rating or facility provided with other hotel booking website. AirAsia also provide traveler to search for better saving hotel accommodation as AirAsia having AirAsiaGo promotion such as mystery hotel and is lowest price guarantee. Mystery hotel is means that traveler pay 3-star rates hotel for accommodate at 5-star hotel but with terms and condition that is the hotel name will not be revealed but hints will be provided, such as the location, facilities found at the Mystery Hotel. Lowest price guarantee is to guarantee to customers that booking hotels with airasiago.com is definitely cheaper price compared to elsewhere online. AirAsia can achieved this by refund the price difference to those customers that able to find lower hotel rates on any other website as compared to the booking made at airasiago.com (same time period and same hotel booking) and is subject to terms conditions. Customers just need to send email to [emailprotected] to claim for the price different. To book a hotel accommodation with AirAsia, customers can visit the AirAsia.com home page (http://www.airasia.com/my/en/home.html) in 6 easy steps as shown below. Step 1 Search Browse for the hotel accommodation by select your vacation city or region. Then, fill in the check-in and check-out date, select number of rooms that you want to book, select number of guest (adult or children) and stated the currency for the payment purpose. After you have key in all this information, now you can click the search and there will be process your requirement. Step 2 Select Now, the systems will be shown out the all hotels that meet the customers requirement. Customers can sort this hotel name view in either price or star rating. So, customers are required to click on the book now at the hotel slide that they choose. Then, customers also required to choose the Room type Features. Step 3 Options After that, customers also can add any additional activities to their itinerary such as airport transfer, our package and so on. Then, customers need to confirm their itinerary and simply click continue to the next process. Step 4 Travelers Detail Customers are required to fill in the contact information. Step 5 Payment Customers can choose for the payment method either credit card or debit card and make the payment. Step 6 Confirmation Once the payment is processed, the hotel accommodation itinerary will be shown and send to your email address Besides that, AirAsia also has cooperated with travel agent to allow travel agent to publish their tour package on AirAsia website. This system has beneficial for those individual that had book flight and hotel accommodation on the AirAsia website to browse for the tour package available and book for their prefer tour package. So, traveler no needs to find other travel agency to book for the travel package. Hence, this will reduce cost such as communication to travel agency and time to confirm the booking as this system can instant confirm on website. Next, AirAsia also got provide destination guide to users for vacation purpose. This is beneficial to those who going to plan for vacation but no idea for the vacation place, then they can search for this systems on AirAsia website. This system will show all the interesting and famous place for vacation around the Asia Country. For example, is Ocean Park and Hong Kong Disneyland at Hong Kong, gold coast at Australia and so on. This systems is easy to use, traveler just need to click on destination guide under the travel info, then just click the destination place that their wan t to know more. User also can choose for detailed information on dining, sightseeing, culture, art theater, nature eco, shopping of the country. This will help travelers that plan for vacation to decide and choose their prefer vacation place. AirAsia also provides a system that allows users to search for the event calendar so that they can plan to go to the event activity. This system also quite easy for the user as it just clicks on the event calendar under the travel info. This system is beneficial to those travelers who want to go for some of the special event activity such as Macau Food Festival, Halloween Hong Kong Treats, Hong Kong Sinfonietta Accompanies Hong Kong Ballet in The Nutcracker, Christmas in the Tropics, Walkerhill Show Legend of Flower and so on because travelers can check for the time this activity happen on AirAsia website. Question 2 (b) Add new cruises booking One of the services or functions that can be add to the current AirAsia website systems to provide cruises booking for users. Future users of this system might include individual, couple, family or group booking, corporate booking, travel agent booking or government booking. Couple may like to have a honeymoon cruise trip or having a memorable cruise wedding. Besides that, cruises is also one of the choice for family, friends or company trip as there have a lot of activities ranging from snorkelling and biking to sauna and spa treatments. This service would increase sales to AirAsia because this cruise package is in very high demand. So, AirAsia should implement this service into the current system website so that users can book for the cruise package. The way of booking this cruise package system is almost same as the hotel booking systems. Besides that, this system also can provide some theme for user to select such as family cruises, luxury cruises, holiday cruise, week end cruise and so on. User can book this theme cruise by click on the Cruise them promotion. If user is more likely to choose the destination and time by themselves, they can search by following steps. First, user need to search for their prefer cruise destination and the duration time for the cruise. Then, user is required to fill in the departure month and date. Anyway, the systems would ask users how flexible are they for the departure date such as expand their search to include days before and after their preferred departure date because it is unlike flights, cruises dont depart every day from every port. Next, user also need to select their prefer cruise line and cruise ship. Lastly, user required to select the cruise departure port and stated the currency for the payment purpose. Now, user can click search. Second, the systems will process all the information and shown out all the available cruise. User can sort this cruise view in either price or ship rating. Now, user need to choose their prefer cruise and click on the select button at the cruise slide that they choose. Third, user can search for the availability of the entertainment or activity on the cruise ship such as Bars, Clubs Lounges, Casino Gambling, Spa, Sports Fitness, Shops, Leisure, Enrichment, Kids Families and so on. This can help user to planning for this activity on the cruise. User also can view the cruise Itinerary at here such as time of arrive or departure at which place. Besides that, user also can look for the availability and the price for the dinning. After the user has know all about the cruise information and confirm for this cruise package then they can click continue for further process. Now, user need to select the number of passengers (Adults or children). User also required to choose their dinning preferences either personal choice dining or second dining. Then, user need to select the table size either medium , small or large. Lastly, user must enter their contact information. Then, user need to specify what type of stateroom category that wants to book such as Suite, Balcony Stateroom, Oceanview Stateroom and Interior Stateroom. Fifth, user need to key in all detailed information. User are required to check the billing information and the contact information. Now, user needs to pay for this cruise package either in debit or credit card. This system can generate more sales for the AirAsia and get more users to use the AirAsia website to plan and book for vacation. Question 2 (a) Functions: Payment methods, 1-Click Card and multi currency pricing system From the system that we have chosen, I would like to discuss about the payment function that are available for AirAsia booking system. Every traveller who purchases their ticket from the website or mobile phone is requiring making the payment prior their purchase. After they have entered their guest information and the additional service that they needed, they are require to choose which payment option and method they would like to use. The payment options are VISA, Master Card or American Express and they can use credit card or debit card, e-gift voucher and direct debit to pay it. Let look at them one by one to see how to use this method to make payment. For the credit or debit card payment, it is the same as the normal way of payment that we use to pay for things that we purchase online. The travellers are required to choose the type of card that they would like to use to make their payment. Then enter their card details on the screen and billing address. They must ensure that the information is the same with the credit or debit card information. Before click on the word Pay to make the payment, they must double check whether the final amount and guest name are correct. After that, be patient to wait for around 45 second for the system to process the transaction. When it is successful, their travel itinerary will automatically appear for them to print and it is also email to them. Direct Debit is another method where the travellers can choose to make their payment. First, they must click on the Direct Debit tab and choose their preferred Bank for payment. There are Maybank, Public Bank. CIMB Clicks, AmOnline and BankRakyat. After selecting the bank that they would like to use, there will be pop-up windows on their preferred bank. They are required to login to their bank account in order to process the payment. To perform the transaction, they must select the account and confirm the payment details by clicking Next. Verify the account by key in their Identification Code (IC) or Passport Number and click Confirm to precede the transaction. Before log out from the page, they must print their payment details for future reference. Once all this is done, the travel itinerary will be display. Traveller can also pay using the E-Gift Voucher (EGV). They can get the EGV by purchasing it online or get it as a gift from AirAsia. They can use it by key in the E-Gift Voucher Number and password. If they have more than one voucher, click on + to add the next voucher by key in the number and password. When there are any remaining balances after deduction from the voucher, they need to pay it using credit or debit card. So they must click on the Credit / Debit Card tab to proceed. Then they must do the same process as the credit or debit card payment explained in the second paragraph. After all the payment, the travel itinerary will appear for print. In additional, there are this new features added to bring convenience to travellers who always purchase flight ticket using the credit or debit card. This is called 1-Click Card. It will change the way they can complete their payment as previous. Now, they do not need to fumble and rush to key in their card details. Before they are able to use this 1-Click Card, they must add their favourite cards into the list on their account. How can they do so? They must login their account in AirAsia.com and go the My Profile. Then move the mouse to My 1-Click Card and select Add/Delete details. They are required to add on their card details for all the mandatory fields and save it. However, they can only add a maximum of 3 cards in this feature. So whenever they need to book any ticket online no matter through web or mobile, they can just click on the card they want to use for purchase without key in the details. Besides that, AirAsa has currently cooperated with The Royal Bank of Scotland (RBS) to provide a multi-currency pricing system to it online system. These systems enable the travellers can immediately get the actual price that they are paying according to their country currency. This could enhance the company online sales by eliminate the uncertainty of exchange rates fluctuation. For now, the currencies available for online sales are US dollar, Singapore dollar, Hong Kong dollar, pound, and Australian dollar. Question 2 (b) Improvement on the payment system There are many customer complaints that they face problems when they are making payment for their flight ticket. When they have finish entering all their card details and click Pay, some of them may even get a page stated that our site is experiencing high traffic, please try again later after they key in the payment details especially during promotion period, facing an error or connection problem. Some may also face problem when they tends to make payments for two different routes flight. For example, there are these customers who plan to help his friends to purchase the flight ticket using his account. For the current system, he can only make the booking by finish the first booking before book for the second flight. But there are these chances where he has successfully paid for the first ticket and when he purchase for the second ticket, he now face an error that state that the payment was unsuccessful. Therefore, as an improvement, I would like suggest to AirAsia that they should upgrading its payment system that enables the customer to book two different route tickets with just one payment with his credit or debit card. How to do so? First, AirAsia should meet with the bank officer that that they have relation on the system and those IT management team to discuss on how to apply this function to the current booking system. After all the discussion, they must design the system to apply. They can put an extra box in the booking section where they can tick on whether they are purchasing more than one ticket. If they tick it, they will be shown with two columns for them to enter the destination and date they are going. After entering it, they will be shown with two fare prices for the different route tickets and they are required to choose. Then they have to enter two type of information. One is for the first trip guest information then another for the second trip as they may be different guest. After all the booking details, they come to the page where they need to make the payments. Now the system must be able to sum up the total price for both of the ticket purchase and the additional charges on other services. Then the customers choose on the payment method that they wanted to use and click Pay. So they are now able to make two ticket purchases with just one time of payment. For the bank site, they must enable the customer to make their payment online although it might be a huge sum. Their customer service centre can also call the customer and confirm on their purchases. With this planning and designing, they must test on this system to see which one is more workable or not on the current system before implementing. It must also be user friendly for the customers to use. So with this new function, the customers can now book ticket from Kuala Lumpur to Bangkok and ticket from Melbourne to Taipei with one payment with their credit or debit card. It is now easier and time saving for the customer as they can save their time to purchase it two times. It is also reduce the chances for them to get the error problem. Question 2(a) Functions: Skybus, Skyvan, advertising, Help and Info Airasia creates airline system to provide useful and convenient for the users. Through the website, we know that Airasia provides a variety of services including skybus, skyvan and advertising. Skybus is a transport that offer low cost price in addition to quality service. Besides that, point to point shuttle service is provided from KL Sentral or One Utama to low cost carrier terminal and vice versa. There are 40 seater air conditioned coaches and also provides adequate space. The time taken from One Utama or KL Sentral to LCC-T is estimated at 1 hour 15 minutes and the ticket charged for KL Sentral is RM9 and One Utama is RM15. Skyvan provides door-to-door van service that will get you to the city such as LCCT, Genting Highlands, Port Dickson, Cameron Highlands, Melaka and so on. It is available from 9am to 9pm.But if u gets a ride between 6 am to 9am and 9pm to 11 pm, you will be surcharged rm20 per van. You will also be charge extra 30 percentage of total cost if it is in the middle of the night. At the same times, the prices are charged in different way which depends on sharing or charter. Advertising is also available on airline system. We learnt that there are few companies that have collaborated with skybus such as Airasia, Maxis and Digi. There are three types of advertisement for allowing companies to advertise including bus painting advertisement, on board advertisement and websites advertisement. The airline system also added few tabs at website including schedule, photo gallery, newsroom and help and info. As we know skybus schedule, it operates daily throughout the year, including public holidays. During peak-season, bus ran at a 15 minutes interval and 30 minutes interval off peak. Therefore, it is convenience for us to get ride straight away and no time is wasted. One of the tabs of Airasia is photo gallery at airline system. We could have a look at various type of Lcct opening, new buses1, new buses 2, skyvan and award. Besides that we could at least figure out the image of the skybus and skyvan from the front view and back view. The photos also prove the awards they have received. In order to let many users know about the latest event, Airasia will updated the advertisement on the home page. For example, they provide bus services to Sepang circuit from 8 April to 10 April 2011.The airline system also provide the detail of skybus schedule and price ticket. Furthermore, airline system also provides newsroom. It has posted lots of articles about skybus from newspaper such as news trait times, star metro and the edge Malaysia. It can enhance people knowledge and increase the reliability of Malaysia. Moreover, Help and Info is provided by Airasia. For enquires and customer services, user can contact them by reaching+6(016)-2176950 from 9 am to 10p.m.Another choice is sending a letter or email to them. In addition, it also provides FAQ and term and condition. In order to improve the service, t hey also created online feedback on online system so that people will give more opinion and Airasia appreciates the compliment from the users by posting them on the wall to share it with everyone. From the above information, users can compare among the airline services (Airasia, Mas airline and firefly )which are more convenient for them. For example, they may find out that Malaysia airline do not provide low cost transport such as skybus. For people who are of average family, they are not willing to spend on expensive transportation fee. Due t o economic crisis, most of people try to do research for the cost and make a budget for themselves. To determine whether is it worth or not, they may want information about flight ticket and transport fee charged by airline and also include the time taken from airport to their destination Most of the users using the airline system are travel agency, businessman, traveler and employees. They interact directly with the system. Travel agency helps their customer to book their flight ticket or prepurchases the ticket and then offers attractive package to their customer. Whereas, businessman is a person who is a workaholic and need to fly around the worlds in order to meet their client. As for traveler, they would like to travel overseas when they are free. Therefore, they are end users who interact with system directly. Besides that, employee manages the system by replying generic question or providing further information to their customers. In order to purchase tickets, first and foremost, you must select your departing and arriving cities. Select number of guest (adult or children) and stated the currency for the payment purpose. After you have key in all this information, now you can click the search and there will be process your requirement. Next, you will need to select flight schedule which will be displayed with fare and travel time. The following steps are user must key in their contact detail and personal detail. After that, you will be asked whether pre-purchase ticket or not. If you choose to pre-purchase, you will need to choose your destination (One Utama/ KL Sentral). Finally, you made the payment by using credit card or debit card. Airasia also provide information about bus service to Melbourne: foreign country Skybus information center of Melbourne airport provides a combined Metcard-Skybus ticket that is avail

Exemplification Essay: America Needs Leaders :: Exemplification Essays, Argumentative

Today, everyone is too concerned with the now to worry about the future. Of course, there are a few who scrimp and save a few dollars here and there so that they will have some when they retire. However, none represent the ideas or beliefs that are destined to change our society. So I ask you are all the idealists gone, or are they just too scared to stand up? Â   Throughout the course of history there have always been those who took a stand against society in order to further their cause. One example of this is Galileo facing the Inquisition of the Catholic Church due to his deep-seated belief in the heliocentric universe. His willingness to face all odds is what made so many become believers in his theory. Galileo did not back down, instead he chose to stand and fight for something he considered right. This is an admirable trait; however, he was not the only one. In our most recent selection "The Communist Manifesto" we are given a glimpse into one of the most renowned idealists ever: Karl Marx. His ability to 'stick to his guns' regardless of the outcome is what won millions to his cause. Even though he said that at his death he was "...the best hated and most calumniated man of his own time," he still made millions believers of a simple idea. An idea, a way of life which even he felt would be extremely hard to attain. Â   These men are not the only ones, there are many more throughout history: Newton who taught us about gravity, Thomas Jefferson, Benjamin Franklin, and Patrick Henry who helped to found our country, and Einstein who revolutionized the way we look at the universe. The point however is to not hold these people in esteem, it is to find how they relate to our society and our time. Who today professes any kind of ideal which they are willing to fight and die for. Some may think politicians bring this kind of faith with their ideas, their promises for a better America.

Chemistry Research Part 1 Acids Essay

Ethanoic acid is non-toxic and is a weak acid [4], meaning it will not do any damage to most surfaces as it does not corrode or bind to other metals, therefore can be easily removed through washing or rinsing it [2]. Disadvantages: Ethanoic Acid is the slowest de-scaler of the three acids, and is therefore the least effective. It also may cause an unpleasant smell, and can have a negative effect on the taste of coffee [6] meaning one would need to spend longer time rinsing and cleaning the machine thoroughly to ensure that the taste of the coffee is not affected. Citric Acid Advantages: Citric acid leaves behind zero toxic residues and has just enough acidic concentration to descale without etching or damaging household surfaces in any way and there are no volatile compounds or products that harm the environment. Disadvantages: Because citric acid is a weak acid, it won’t remove heavy build-up of scale very quickly. It is also a powder hence it must be dissolved for use. It also works best with hot water meaning there will be higher energy consumption. Even when used with hot water, citric acid is not as effective at descaling as Sulfamic acid. Sulfamic Acid Advantages: Sulfamic acid is the fastest de-scaler – It dissociates into hydroxonium ions more readily in aqueous solution than the others, therefore giving a greater concentration of atoms that are able to react with the calcium in lime scale. It is safe to use because it does not produce chlorine gas [5], which can be toxic. Sulfamic acid also has a low volatility. Disadvantages: Sulfamic Acid can be an irritant to eyes or skin and is the most expensive of the de-scalers. Q2) How these de-scalers remove limescale Limescale forms when hard water is heated above 61Â °C or when it is left to evaporate on surfaces such as taps and showerheads. Hard water is water that contains high quantities of calcium and magnesium ions. These hardness minerals, in the form of calcium carbonate and magnesium carbonate, precipitate out of hard water to form limescale [1]. Therefore, to clean or remove limescale, something needs to dissolve or soften calcium carbonate and/or magnesium carbonate, so it can easily wash away. Acids cause mineral deposits such as rust to oxidise, thereby weakening them and making it possible to simply wash them away. Lime scale removers work by chemically reacting with the lime scale to form safe chemicals and ions. Lime scale is Calcium Carbonate, and when broken down by strong acids, produces Calcium Chloride, Water and CO2. These are much safer, and can be washed away with water, to remove the CaCl from the area. Bibliography [1] http://www.dynapipe.co.uk/how-to-remove-limescale.htm [2] http://www.coffeehomedirect.com/how/to/clean/a/coffee/maker/with/vinegar [3] http://www.ehow.co.uk/how_7404899_delime-coffee-maker.html [4] http://incarinsurance.org/advantages/advantages-and-disadvantages-of-using-ethanoic-acid-as-a-descaler-.html [5] http://uk.answers.yahoo.com/question/index?qid=20130123013345AA71LkB [6] http://www.p4c.philips.com/cgi-bin/dcbint/cpindex.pl?scy=ZA;slg=ENG;ctn=HD5405/60;dct=FAQ;refnr=0092154;view=aa12_view_partial.html;session=20120502004843_66.249.71.242;faqview=1

Concretization

Concretization As with almost every aspect of â€Å"developed† or â€Å"first world† culture, a cloud of laziness accompanies any call to a challenge. Although finding an easier means of overcoming obstacles has been rooted in human existence since we came to roam the earth, it appears we have achieved a new level of indolence. Understanding abstract philosophical or religions bares no exception. To witness this one need look no further than todays pop culture. A quick Google search of â€Å"celebrity tattoos† yields upwards of 54 million results in a little over 2 tenths of a second.Riddled among the image results are countless crosses, Taijitu’s, words in Sanskrit and other philosophical or religious symbols. Riddled among these are famous rapper â€Å"lil wayne†, actress Angelina Jolie and pop celebrity Pamela Anderson. I do not necessarily condone assumptions, however, I believe it would be safe to say that these, among countless other, harbor s ymbols as an easy or careless means of professing a devotion to a specific ideology. Furthermore, an ideology that know little or nothing about.I may well be wrong and perhaps they are well educated in the ways of their respective religions/philosophies but would not wager on it if I were a betting man. Considering that Pamela is a vegan because her â€Å"†¦body is a temple† yet has had a not to distant history with pill and cocaine abuse might tilt the odds in my favor. Nevertheless, it is not just celebrities who are concretizing abstract and demanding philosophies, they are just most readily accessible.In todays first world countries, praising a concretized symbol of a philosophy or religion is an easy way of identifying ones self with the select group without difficulty of actually having to learn about it. Just as students are reading the spark notes instead of the book or parents are hiring au pairs instead of raising their children (working/single parents excluded ), so are most individuals taking a lackadaisical approach to their spiritual beliefs. This is easily done through making a symbol concrete.Consider the concept of yin-yang, a theory of balance representing male and female in unison to depict wholeness. This is often portrayed by the Taijitu symbol that most western cultures are familiar with. What is often difficult to understand about Yin-Yang is that it is ultimately a teaching of metaphysical dualism. This is to say that one is only as much itself as it is the absence of its counterpart; light is just the absence of darkness. The concept seems simple when applying it to light and dark but when it comes to questions of existence or consciousness it becomes difficult to understand.Consequently, people, either due to laziness or ignorance, attach themselves to the concrete symbol and the simplest explanation to accompany it. Thus we see that the Taijitu, in western culture, has itself adopted the name the Yin-Yang or more absurdly the â€Å"Ying- yang†. I have a friend who to this day thinks he has a tattoo Yin-Yang tattoo. It’s a pretty abstract and unlimited concept to fit in the confines of ones skin; I’m not sure if he even is aware of the word Taijitu; I don’t think I should ask. The development of concretization, however, cannot lay burden solely on the symbol.Symbols have been used to represent religions, philosophies and factions of all sorts for thousands of years. Instead, I believe ignorance, and furthermore the lack of motivation to rid oneself of ignorance, is to blame. This has become increasingly evident in the modernized world we live in today. In a time when information, entertainment and even food is mere seconds away at the fingertips of the majority of the nation, the concept of delayed gratification slowly slips through the proliferated cracks of our artificial society. I, too, am guilty of the act.When I went to military school in the 9th grade each cadet was responsible for two pairs of shoes, the dailies and the dress. The dailies were to have no scuff or tearing around the sole but would ultimately suffice with a rather dull finish. The dress shoes, on the other hand, were required to be shined to a mirror finish; a feet that requires the perpetual spit shine of rag and polish until the pores of the leather are filled. A rule of thumb is that one should be able to see the whites in their eyes when they pick up to inspect the shoe.After three hours work on one shoe alone, a blurred outline of my face was all I could make out. An older student heard me complaining to my roommate and came by to see what was the fuss. â€Å"I’ve been working on these all day,† I muttered, â€Å"this is impossible†. He smiled and turned as if to undermine my complaint. â€Å"Delayed gratification,† he replied as he walked off, â€Å"delayed gratification. † This was the first time I had heard the phrase. I looked it up an d have kept it in the back of my mind ever since. In this increasingly fast paced world we live in, instant gratification is phasing out the concept of hard work and reward.This holds true in our approach to religious/philosophical beliefs. We all want to just get it†¦ just understand†¦ just be enlightened. There are those that meditate for an hour, a day, a week and then are frustrated and perplexed as to why they are not yet enlightened†¦ Or, they go get Yin-Yang tattoo and claim they are. Unfortunately much of today’s world focuses on the simple, the easy and the instant and thus breed much of the laziness and ignorance that results in concretization of the abstract and complex.

King of Horror essays

King of Horror essays Horror movies have never particularly interested me but when Evil Dead II was first introduced to me, I immediately fell in love with it. Although it is supposed to be a horror movie, the director, Sam Raimi, added his own twisted sense of humor into it to get a scare and laugh out of his audience. He does this with flying colors with his cheesy use of blood, the stupidity of the supporting characters, the masculinity of the main character Ash, and the Three Stooges humor placed sporadically throughout the movie. The basic plot this horror movie is that a scientist found The Book of the Dead, which he had been looking for his entire life. After finding this book, he travels to a remote cabin somewhere in the United States and summons demons that possess any human beings in the area. Our brave hero Ash is unaware of this in the first Evil Dead and plays a tape recording that summons the spirits from the woods. All hell breaks loose and Ash is the only survivor at the end. Ashs girlfriend, his best friend, and his best friends girlfriend all become possessed and ultimately hacked to pieces. After going through an ordeal like this, one would think that it would be highly unlikely for Ash ever to set foot within one hundred miles of the cabin. However, our unpredictable hero manages to find the courage to bring a new girlfriend of his to the cabin once again. And once again, possessed creatures are hewn and mangled and Ash is once again the only survivor. The beginning of Evil Dead II starts out fast because Evil Dead covered what the audience should know about the movie, and any true fan of Evil Dead II should already have seen Evil Dead. So right of the bat, Ashs new girlfriend is killed the exact way his last girlfriend was killed, Ash chops her head off with a shovel. After this, Ash tries to escape only to find the bridge he crossed in his car earlier to get to the cabin had been destroyed co...

The Definition and Examples of Salutations

The Definition and Examples of Salutations At the beginning of a conversation, letter, email, or another form of communication, a salutation is a polite greeting, an expression of goodwill, or other sign of recognition. Also called a greeting. As Joachim Grzega points out in the article Hal, Hail, Hello, Hi: Greetings in English Language History, Salutation terms are an important part of a conversationthey tell the other I feel friendly toward you, and they are maybe the start of a longer conversation (Speech Acts in the History of English, 2008). EtymologyFrom the Latin, health Examples and Observations Theres more to the story, Alex announced. Trust me.Katie hadnt heard him come up, and she stood.Oh, hey, she said, blushing against her will.How are you? Alex asked.Good. She nodded, feeling a bit flustered.(Nicholas Sparks, Safe Haven. Hachette Book Group, 2010) J.D.: Greetings and salutations. You a Heather?Veronica Sawyer: No, Im a Veronica.(Christian Slater and Winona Ryder in Heathers, 1988) Cowboy: Howdy.Adam Kesher: Howdy to you.Cowboy: Beautiful evening.Adam Kesher: Yeah.(Monty Montgomery and Justin Theroux in Mulholland Dr., 2001) How Are You (Ya)?I bumped into an acquaintance. Hi Sally, I said. How are you? She  paused and then stopped and said hello and how was I and how were the children and it was manifestly obvious she couldnt remember my name.(Philip Hesketh,  How to Persuade and Influence People. Wiley, 2010)The phone rang. ONeil speaking.Howdy, Pat. Its Mac.Mac,  how are ya? I was just thinkin about ya. Great to hear from ya.(Jay Feldman,  Suitcase Sefton and the American Dream. Triumph Books, 2006)Listen to how [people] say, How are you? They dont really say, How are you? They say, How are ya? . . . How are ya? means Just say good, and walk away. I dont really want to know. Register that I asked, then proceed not to tell me.(Paul Reiser, Couplehood, 1995) How Ya Doin?Everyone seems friendly at first, everyone stops and asks, Hi, how ya doin? But after a while you realize that thats it, nothing ever follows up that Hi, how ya doin? And to answer that with anything less exuberant than, Pretty good, is a social outrage. The creed is to be bright, brisk and busy.(Upamanyu Chatterjee, English, August: An Indian Story. Faber and Faber, 1988)When you meet somebody at a post office, he or she says, How are you, how are you doing? At Laguna, people will stand there and theyll tell you how they are doing. At Laguna, its a way of interacting.(Leslie Marmon Silko, Yellow Woman. Simon and Schuster, 1997) Hey!Hey . . . is basically a synonym for  hia friendly greeting. Until fairly recently, it was confined to the American South.  The Dictionary of American Regional English  (DARE) cites a 1944 survey as reporting that  hey  is the common term of familiar salutation of children and young people in most of the South;  hello  seems to them either semiformal or archaic. On many northern and western campuses the term is  hi. . . .But not anymore. . . .  My sense is that among people under about 40 from all regions,  hey  for some time has been at least as popular as  hi,  and probably more so, and now seems completely unremarkable.(Ben Yagoda, ‘Hey’ Now. The Chronicle of Higher Education, January 6, 2016) Brief EncountersWhen persons accidentally encounter one another, it appears, they may be at liberty to confine their remarks to an exchange of greetings (Goffman 1953:485 points out that length of salutation may depend on the period that had elapsed since the last salutation and the period that seemed likely before the next; but a minimal exchange is possible); when there is a planned or intended encounter, more than a minimal pair is done.(Gene H. Lerner, Conversation Analysis: Studies From the First Generation. John Benjamins, 2004) Register and DialectSalutations in business letters (Dear Ms. Portillo, Dear Sirs) differ from those in personal letters (Hey Ashley, Dear Devon). Every textevery piece of natural languagerepresents characteristics of both its situation and its speaker or writer; every text is simultaneously register and dialect.(Edward Finegan, American English and Its Distinctiveness. Language in the USA: Themes for the Twenty-First Century, ed. by Edward Finegan and John R. Rickford. Cambridge University Press, 2004) Email GreetingsE-mail has changed the rules of engagement. The language of business is evolving. Our old dears are withering away, replaced in the top perch by hello, hi and hey. . . .Im fed up with people writing Hi Jean when theyve never met me, says etiquette guru Jean Broke-Smith.If youre sending a business e-mail you should begin Dear . . .like a letter. You are presenting yourself. Politeness and etiquette are essential. . . .But why are so many of us culling Dear . . . from our e-mails, even in the workplace? The simplest answer for its detractors is that it no longer says what it means, it feels cold and distant.(James Morgan, Should E-mails Open With Dear, Hi, or Hey? BBC News Magazine, Jan. 21, 2011) The Lighter Side of SalutationsWhat ho! I said.What ho! said Motty.What ho! What ho!What ho! What ho! What ho!After that it seemed rather difficult to go on with the conversation.(P.G. Wodehouse, My Man Jeeves, 1919)

Bob Jones Essays - Lacey, 9, Professional Wrestling, Music Industry

Bob Jones Miss Hanson English, Period 2 March 29, 1999 The White Flag It was a usual summer day, as I woke up and ran to the bathroom. Then I went downstairs and grabbed a bowl of cereal and the remote control. I ate my peaches n' cream oatmeal while watching my favorite television show, Rainbow Brite. Wow! She had to be the bravest girl ever, and she was my childhood hero. Ding-dong, the door bell rang. As I ran to get the door I suddenly felt myself falling down on my face. As I face planted it , I saw the cause. My older brother, Jason, had left his dumb shoes out again! Climbing up, regaining my balance the door rang again, and I yelled, "I'm coming!" I opened the door and saw my best friend, Lacey. " Hey Brooke, can you play?" "Yeah, I have to change my clothes first though." So we went upstairs and met Jason and his friend, Scott, Lacey's older brother, at the top of the stairs. We brushed past them and went into my bedroom. I was just opening up my underwear drawer, when the boys burst in. Jason grabbed some of my underwear, revealing to Scott that I wore Rainbow Brite and My Little Pony underwear. I was absolutely mortified at the sight of two boys seeing my underwear and laughing at them. I jumped up, snatched my underwear and shoved the boys out while yelling, " Get out, get out you jerks!," and slammed shut the door. "How could he do that!" raged Lacey. "Yeah, how dare they do such a thing!" I exclaimed back at Lacey. Mean while, while Lacey was rambling on about the boys I was thinking revenge! "I know, I said, what's better than getting mad is getting even, and I'm going to give him a taste of his own medicine!" "But how?" Lacey questioned. "Just follow me." I said excitingly. I lead the way to my plan. We marched into Jason's bedroom, and headed straight toward the underwear drawer. We got out every pair. "Holy Cow! He wears whitey-tighties?" questioned Lacey. "Yeah, that's not the worst of it! They are huge and even have a hole in all of them!" I said. (Now at this point you have to understand that at seven years old we didn't quite know about these sort of things.) "Start tying them together!" I ordered. We tied together every pair of those white pieces of cloth, and had a long strand. We dragged it over to his open window and lunged it out, just as the neighborhood babe, Kristen Redford, was walking by and saw the whole thing. She ran off laughing hysterically. Oh, Jason was so in-love with her, and this was working out too perfect. Yep, I knew it! A very out-raged, Jason, red-faced with both embarrassment and anger stormed in, grabbed and tackled me, and beat the living tar out of me. Oh but is sure was worth every bruise and cut!

Give some example of ethical issues that you have experienced in jobs, Essay

Give some example of ethical issues that you have experienced in jobs, and explain how HR did or did not help solve them - Essay Example n Kelvist insurance company where I work, cases of racism against the blacks who are [perceived as inferior workers have been rampant, one clear example is when an international non-governmental organisation approached our company to offer health insurance services to their workers in war-torn countries of Africa. The department head who would have dealt with such a case was out of office and his assistant who happened to be a black woman had been left in charge. Subordinate workers especially the whites in the department who had not been comfortable with having a black woman as their boss defied orders to serve the guest from the nongovernmental organisation on the pretext that the assistant department head is an African and therefore unqualified enough to handle a case of such a magnitude with the respectable NGO (Weiner 1492). Disciplinary action against the workers who were undermining the leadership capabilities of the assistant head of department were taken and all of them were interdicted except one who was transferred to another department in a lower capacity and with further disciplinary action in case he was involved in such an incident again. This has helped reduce the cases of racism in the organisation drastically since no single such case has been experienced after the disciplinary action was taken against the racist

Theoretical Frameworks of Our Knowledge and Understanding of Social Assignment

Theoretical Frameworks of Our Knowledge and Understanding of Social Problems - Assignment Example Social care is a proactive and dynamic activity, that primarily involves defining the vector of any body's actions and behavior. Again, the said concept may be written vaguely in its concept, as this might involve everybody and anybody. The short answer is yes!  Human beings have always found a multitude of ways to divide themselves. Color, creed, religion, class and ranks, all have provided a disparity in attitude and treatment over the millennia. However, defining them on grounds of social class on grounds of social care is incorrect. This is a stance that is largely misunderstood and can only be truly clarified once the correct stance of social care is understood.  It seems, therefore, that issues such as race, ethnicity, gender or sexuality provide a sore point for those of the middle class as they cannot find their true place in this tug-of-war. The current face of health care is largely a product of the advancement made during and after the World Wars. However, despite the magnitude and quality of work that was done at that time, the obvious constraint due to the war was that a systematic procedure for providing health care cannot be established. Much has changed since then, and the corporate face of the organizations in the changing world has brought about a new shape to the domain of clinical practice. With the inception of concepts like quality and the ISO standards, what the world of today has realized, is that documentation, for any system of work, is not only essential but is a must.  Given that social care is a kind of treatment restricted mostly to verbal exchanges, practitioners do not have to be medically qualified. In most countries, however, helpers must be trained, certified and licensed with a range of different licensing schemes and qualification requirements in place around the world. Helpers may be health care specialists, social workers, trained nurses, psychiatrists, psychoanalysts, or professionals of other mental health discipli nes. Psychiatrists' training focuses on the prescription of medicines, with some training in social care. Health care specialists have special training in mental health assessment and research in addition to social care. Social workers have special training in mental health assessment and treatment as well as linking patients to community and institutional resources. "Social workers do not usually interpret or seek for unconscious motivations but bring cognitions and beliefs into the current focus of attention (consciousness) and through guided discovery encourage clients to gently re-evaluate their thinking" (Schultz, 2002).  Given the fact that all human beings are susceptible to challenging situations, it becomes imperative for them to qualify for the need for social care. The issue of race has always been an element of disparity among humans. The simple reason is, that no matter what your nationality, creed, or social status, the color of your skin is an ever permanent factor.

The Role of a father. A Rogerian Argument. Is a father's participation Essay

The Role of a father. A Rogerian Argument. Is a father's participation in a child's growing up more significant in a son's or in - Essay Example It is the relationship with the father that decides daughter’s confidence in her womanhood, her identity, her relationships and her self-esteem level. It won’t be wrong to say that it is the father who builds the path of success, contentment and happiness in daughter’s life as it is he, who gives her the confidence to survive strongly and with dignity in the male dominated human society. Father’s role in child development It is a typical assumption that children become well adjusted adults if they live with same sex parent as same sex parent becomes an appropriate role model for them (Newman and Grauerholz 465). This assumption is strengthened with a research by Hosley and Montemayor (1997), who found that fathers have less contact with their daughters and engage more in activities of their sons (Lamb and Lewis 290). Larsen and Richards (1994) found that due to the communication gap with fathers, daughters remain uninfluenced by them while sons are influen ced a lot (Lamb and Lewis 290). However, a review of literature on child psychopathology by Phares (1997) revealed that even though fathers do not interact with their children as much as mothers, they still have a powerful indirect and direct impact on the social and emotional adjustments of children (Lamb and Lewis 290). This shows that fathers play an important role in the development of both, the male and the female child. ... of 2433 teenagers living with single parent, sociologists Brian Powell and Douglas Downey (1997) revealed that there is no base to the assumption that same sex parent are better as they are better suited to become appropriate role models (Newman and Grauerholz 465). In fact, they found that the chances of teenage girls becoming pregnant are more when they live with their mothers (Newman and Grauerholz 465). This proves that the assumption that same sex parents prove to be better role models for adolescents is wrong. According to Freud, daughters have an unconscious desire for their fathers and in order to resolve the conflict of the internal desire, they identify with mother’s feminine qualities and model her (Sigelman and Rider 353). This shows that daughter’s modeling of mother is not ‘natural’ but is an attempt to impress her father and to win his appreciation. In this way, it is the father who reinforces the feminine behavior in his daughter (Sigelman a nd Rider 353). According to Parke (1996), Freud’s notion that father makes an important contribution in the development of the gender based role in daughters, is confirmed (Sigelman and Rider 353). Also, acceptance and encouragement by father plays a crucial role in healthy development of daughters. Sons do not depend on fathers to develop their masculine identity. They find the masculine identity through competitive achievement and acceptance by male group (male friends, peers etc.) (Kohlberg 163). However, daughters gain confidence and strength in their feminine identity only when they are accepted and approved by male (Kohlberg 163). As father is the first male in daughter’s life, the foundation of her future male-female relationship is based on her relationship with her father (Shearin Karres 165).

Differentiated Instruction In the Classroom Research Paper

Differentiated Instruction In the Classroom - Research Paper Example At the California Montessori Project Charter School teachers use differentiated teaching methods that are based on Maria Montessori’s philosophy of following the child. In other schools in Sacramento the teachers that will be interviewed will share their techniques for small group work. There are also academic programs, such as â€Å"Handwriting without Tears,† that provide differentiation written into the curriculum. Each of these curricula is creating a new pathway for teaching, specifically because of the positive results which are currently being achieved. To continue with this approach, are also several trying to refine and work forward with the learning approaches that are used. Purpose of this Study The purpose of this study is to define the approaches to differentiation as well as whether this will benefit students that are learning with specific approaches. When examining the differentiation in the classroom, there will be the focus on showing the accomplishmen ts, progression and potential problems associated with this approach. Defining this will benefit students, teachers and educators, specifically because there will be more knowledge and background on differentiation. This will be combined with the understanding that education can begin to progress and change for classrooms which are inclusive of alternative styles for teaching. The research will provide information from Gardner, Vygotsky and Montessori as some of the researchers working with differentiated instruction. The research conducted to support this paper will help teachers with new skills and knowledge to best support their students in the classroom. It will also work to identify more of the... The significance of the study is to prepare teachers to expand their horizons when it comes to instructional strategies that are evidence-based and a proven product. It is expected that through this study, there will be the capability of creating new approaches to teaching and learning. Understanding the benefits and the gaps of differential instruction can help to refine the new methodology of teaching while assisting those within the classroom to approach students in a different manner. If this methodology can begin to evolve and become a standard within the classroom, there will be the capability of creating new opportunities for growth in the educational system. This report makes a conclusion that the concepts which were used in the qualitative study, as well as the quantitative research show that there is a demand to change the overall instruction in the classroom. The theoretical approaches show that there are diverse needs, both with the socio – cultural basis and with the cognitive learning capabilities which the children carry. This is combined with the needed changes associated with diverse settings which are now incorporating special education with gifted students, specifically because of the recognition that each student doesn’t have slower or faster learning abilities, but instead has different ways of learning. The theoretical concepts show that there are many associations with benefits and needs for differential instruction. While there is a strong need for the instruction, there are also questions over how to intertwine the theories with practical methodologies. The Montessori Method is one which has found explorati on as a main approach to the classroom.

A review of the literature exploring the user of NIV to treat Dissertation

A review of the literature exploring the user of NIV to treat exacerbation of COPD - Dissertation Example The main objective of this paper is to review what has been found by various studies on the survival challenges, quality of life and the compliance to NIV therapy by the users. Also, the paper will review literature on the effectiveness of the NIV treatment. Challenges on survival, Quality of life and compliance to NIV therapy According to the studies by Massimo, et al (2012, pp747), it was gathered that there are indications of early NIV positive pressure ventilation, which tend to increase the rate of survival. This was made in comparison with NIPPV. As such, NIV acts as a relief from challenges relating to survival rate in patients with high level of CO2 in their blood. A study by Pepin, et al (2008, pp360) indicates these challenges. According to the study, the challenges that these patients face are: fatigue, sleep patterns that are disturbed as well as breathlessness. The group also found out that NIV does not provide a prevention against weakening of the respiratory muscle tha t tend to progress. Acute exacerbations of a chronic Obstructive Pulmonary Disease better referred to as COPD, pose great challenge to the survival rate of a patient. In the periods that the patient is faced with worsening extremes, it adversely affects the patient’s health status. There is an escalating admission to hospitals and even rise of mortality rates (Angus, et al 2011, pp84). According to the studies by Fionnuala, et al (2007, pp60), it is approximated that the mortality rate of in-patient ranged from 4%-30%. The study goes on to indicate that patients that are admitted due to complications from acute Respiratory failure have a higher mortality rate. According to the study, the patients who are elderly and have co morbidities as well as those patients needing the ICU facilities were the most affected by the high mortality rate. According to the study by Monica, et al (2004, pp605), ventilation of the respiratory worsens to perfusion ratio and this result to a mechan ism in the hypoxemia occurrence. This happens when psychological dead space enlarges. It also occurs when there is a rise in the ventilation waste. In the study by Suzy (2012, pp61), it was identified that increased resistance of the airway as well as the need for high minute ventilation tend to result to a limitation on the expiratory flow. Still, the study found out that a dynamic hyperinflation, enlarged threshold of the aspiratory load as well as respiratory muscle dysfunction result to a feeling of fatigue in a patient. Plant and Elliott (2003) studied that a rapid pattern of breathing, which is somehow shallow, occurs. This is due to the respiratory system efforts towards maintenance of enough ventilation in the alveoli. This happens when the elastic, resistive and loads of aspiratory threshold are introduced to the weakened muscles of the respiratory system. However, irrespective of an increment in stimulus of the centers of the respiratory system as well as swings in the lar ge, negative intra-thoracic pressure, carbon dioxide is still retained and as such, acedemia occurs. Other studies by Rossi, et al (1995) and Ambrosino, et al (1997) established that severe COPD which is complicated by ARF, attain characteristics such as; right ventricular failure, encephalopathy as well as dyspnea and these pose as serious challenges to the survival of the patient. In regards to the studies by Eliott (2012, pp85), a vital intervening is advantageous to the patient with COPD is advisable. He suggested a clinical experience and this was an NIV treatment. Does NIV improve respiratory function or increase survival? A

The Role of a father. A Rogerian Argument. Is a father's participation Essay

The Role of a father. A Rogerian Argument. Is a father's participation in a child's growing up more significant in a son's or in - Essay Example It is the relationship with the father that decides daughter’s confidence in her womanhood, her identity, her relationships and her self-esteem level. It won’t be wrong to say that it is the father who builds the path of success, contentment and happiness in daughter’s life as it is he, who gives her the confidence to survive strongly and with dignity in the male dominated human society. Father’s role in child development It is a typical assumption that children become well adjusted adults if they live with same sex parent as same sex parent becomes an appropriate role model for them (Newman and Grauerholz 465). This assumption is strengthened with a research by Hosley and Montemayor (1997), who found that fathers have less contact with their daughters and engage more in activities of their sons (Lamb and Lewis 290). Larsen and Richards (1994) found that due to the communication gap with fathers, daughters remain uninfluenced by them while sons are influen ced a lot (Lamb and Lewis 290). However, a review of literature on child psychopathology by Phares (1997) revealed that even though fathers do not interact with their children as much as mothers, they still have a powerful indirect and direct impact on the social and emotional adjustments of children (Lamb and Lewis 290). This shows that fathers play an important role in the development of both, the male and the female child. ... of 2433 teenagers living with single parent, sociologists Brian Powell and Douglas Downey (1997) revealed that there is no base to the assumption that same sex parent are better as they are better suited to become appropriate role models (Newman and Grauerholz 465). In fact, they found that the chances of teenage girls becoming pregnant are more when they live with their mothers (Newman and Grauerholz 465). This proves that the assumption that same sex parents prove to be better role models for adolescents is wrong. According to Freud, daughters have an unconscious desire for their fathers and in order to resolve the conflict of the internal desire, they identify with mother’s feminine qualities and model her (Sigelman and Rider 353). This shows that daughter’s modeling of mother is not ‘natural’ but is an attempt to impress her father and to win his appreciation. In this way, it is the father who reinforces the feminine behavior in his daughter (Sigelman a nd Rider 353). According to Parke (1996), Freud’s notion that father makes an important contribution in the development of the gender based role in daughters, is confirmed (Sigelman and Rider 353). Also, acceptance and encouragement by father plays a crucial role in healthy development of daughters. Sons do not depend on fathers to develop their masculine identity. They find the masculine identity through competitive achievement and acceptance by male group (male friends, peers etc.) (Kohlberg 163). However, daughters gain confidence and strength in their feminine identity only when they are accepted and approved by male (Kohlberg 163). As father is the first male in daughter’s life, the foundation of her future male-female relationship is based on her relationship with her father (Shearin Karres 165).

A review of the literature exploring the user of NIV to treat Dissertation

A review of the literature exploring the user of NIV to treat exacerbation of COPD - Dissertation Example The main objective of this paper is to review what has been found by various studies on the survival challenges, quality of life and the compliance to NIV therapy by the users. Also, the paper will review literature on the effectiveness of the NIV treatment. Challenges on survival, Quality of life and compliance to NIV therapy According to the studies by Massimo, et al (2012, pp747), it was gathered that there are indications of early NIV positive pressure ventilation, which tend to increase the rate of survival. This was made in comparison with NIPPV. As such, NIV acts as a relief from challenges relating to survival rate in patients with high level of CO2 in their blood. A study by Pepin, et al (2008, pp360) indicates these challenges. According to the study, the challenges that these patients face are: fatigue, sleep patterns that are disturbed as well as breathlessness. The group also found out that NIV does not provide a prevention against weakening of the respiratory muscle tha t tend to progress. Acute exacerbations of a chronic Obstructive Pulmonary Disease better referred to as COPD, pose great challenge to the survival rate of a patient. In the periods that the patient is faced with worsening extremes, it adversely affects the patient’s health status. There is an escalating admission to hospitals and even rise of mortality rates (Angus, et al 2011, pp84). According to the studies by Fionnuala, et al (2007, pp60), it is approximated that the mortality rate of in-patient ranged from 4%-30%. The study goes on to indicate that patients that are admitted due to complications from acute Respiratory failure have a higher mortality rate. According to the study, the patients who are elderly and have co morbidities as well as those patients needing the ICU facilities were the most affected by the high mortality rate. According to the study by Monica, et al (2004, pp605), ventilation of the respiratory worsens to perfusion ratio and this result to a mechan ism in the hypoxemia occurrence. This happens when psychological dead space enlarges. It also occurs when there is a rise in the ventilation waste. In the study by Suzy (2012, pp61), it was identified that increased resistance of the airway as well as the need for high minute ventilation tend to result to a limitation on the expiratory flow. Still, the study found out that a dynamic hyperinflation, enlarged threshold of the aspiratory load as well as respiratory muscle dysfunction result to a feeling of fatigue in a patient. Plant and Elliott (2003) studied that a rapid pattern of breathing, which is somehow shallow, occurs. This is due to the respiratory system efforts towards maintenance of enough ventilation in the alveoli. This happens when the elastic, resistive and loads of aspiratory threshold are introduced to the weakened muscles of the respiratory system. However, irrespective of an increment in stimulus of the centers of the respiratory system as well as swings in the lar ge, negative intra-thoracic pressure, carbon dioxide is still retained and as such, acedemia occurs. Other studies by Rossi, et al (1995) and Ambrosino, et al (1997) established that severe COPD which is complicated by ARF, attain characteristics such as; right ventricular failure, encephalopathy as well as dyspnea and these pose as serious challenges to the survival of the patient. In regards to the studies by Eliott (2012, pp85), a vital intervening is advantageous to the patient with COPD is advisable. He suggested a clinical experience and this was an NIV treatment. Does NIV improve respiratory function or increase survival? A

Management Study Guide Essay Example for Free

Management Study Guide Essay Commanding Heights: Episode 3 (Chapters 11-14); available at online at http://www.pbs.org/wgbh/commandingheights/lo/story/index.html With communism discredited, more and more nations harness their fortunes to the global free-market. China, Southeast Asia, India, Eastern Europe and Latin America all compete to attract the developed worlds investment capital, and tariff barriers fall. In the United States Republican and Democratic administrations both embrace unfettered globalization over the objections of organized labor. But as new technology and ideas drive profound economic change, unforeseen events unfold. A Mexican economic meltdown sends the Clinton administration scrambling. Internet-linked financial markets, unrestricted capital flows, and floating currencies drive levels of speculative investment that dwarf trade in actual goods and services. Fueled by electronic capital and a global workforce ready to adapt, entrepreneurs create multinational corporations with valuations greater than entire national economies. When huge pension funds go hunting higher returns in emerging markets, enterprise flourishes where poverty once ruled, but risk grows, too. In Thailand the huge reservoir of available capital proves first a blessing, then a curse. Soon all Asia is engulfed in an economic crisis, and financial contagion spreads throughout the world, until Wall Street itself is threatened. A single global market is now the central economic reality. As the force of its effects is felt, popular unease grows. Is the system just too complex to be controlled, or is it an insiders game played at outsiders expense? New centers of opposition to globalization form and the debate turns violent over who will rewrite the rules. Yet prosperity continues to spread with the expansion of trade, even as the gulf widens further between rich and poor. Imbalances too dangerous for the system to ignore now drive its stakeholders to devise new means to include the dispossessed lest, once again, terrorism and war destroy the stability of a deeply interconnected world. The Bush Bailout Plan (Rounds 1 and 2) Round 1: Allow the Treasury to borrow up to $700 billion to buy mortgage-related assets from US financial institutions over the next 2 years. –May stabilize the capital markets ( could protect investment and retirement funds) – MAY stabilize housing prices. Consequences of doing nothing: -Small businesses will fail. -Companies may not be able to make payroll -People, even those with good credit records, may not be able to get credit for mortgages, car loans, student loans, or credit cards. -People will lose jobs. Round 2: Same deal: with same possible benefits. House version of the bill: $350 billion upfront; $350 billion later unless congress holds it back. -NO new golden parachutes if the institution sells more than $300 million in assets -Must try to â€Å"claw back† past bonuses if based on misleading financial statements -No golden parachutes when the treasury has ownership stake in the firm (.ie., it is failing). Defined Contribution Retirement Plans – A defined contribution plan provides an individual account for each participant. The benefits are based on the amount contributed into the plan and are also affected by income, expenses, gains and loses. There are no promises of a set monthly benefit at retirement. Some examples of defined contribution plans include 401(k) plans, 403(b) plans, employee stock ownership plans and profit sharing plans. Contagion The tendency to spread, as of a doctrine, influence, or emotional state. When one nations economy is negatively affected because of changes in the asset PRICES of another country’s financial market Foreign Direct Investment – Is when a firm invests resources in facilities to produce and/or market a product in a foreign country. Horizontal FDI versus Vertical FDI Horizontal FDI: investment in the same industry in which a firm operates at home. Vertical FDI: investment in an industry that provides inputs for a firm’s domestic operations or that sells the outputs of the firm’s domestic operations. Backward Vertical FDI versus Forward Vertical FDI- Backward vertical FDI: an investment in an industry abroad that provides inputs for a firm’s domestic production processes. Forward Vertical FDI: an investment in an industry abroad that sells the outputs of a firm’s domestic production processes. BACKWARD vertical means that there are more places to help build the product. Stock versus Flow of FDI – Stock flow is the total accumulated value. Flow of FDI is the value over time. Gross Fixed Capital Formation GFCF is a flow value. It is usually defined as the total value of additions to fixed assets by resident producer enterprises, less disposals of fixed assets during the quarter or year, plus additions to the value of non-produced assets (such as discoveries of mineral deposits, or land improvements). Greenfield Investment – Establishing a new operation Acquisition – When one firm buys an interest in another firm Merger – When two firms agree to integrate their operations on a relatively co-equal basis. Exporting – The sale of products produced in one country to residents of another country Licensing – when one firm (the licensor) grants the right to produce its product, use its production processes, or use its brand name or trademark to another firm (the licensee) Tacit versus Codified Knowledge – Tacit knowledge: information that is intuitive and difficult to articulate or codify in writing. (Can be gained through personal experience or interaction. Shared knowledge might be dispersed throughout the company.) Theoretical Explanations for FDI: Transportation Costs, Market Imperfections, Strategic Behavior, Product Life Cycle, and Location-Specific Advantages Impediments to the Sale of Know-How Impediments to the sale of know-how explain why firms prefer horizontal FDI to licensing. These impediments arise when: (a) a firm has valuable know-how that cannot be adequately protected by a licensing contract, (b) a firm needs tight control over a foreign entity to maximize its market share and earnings in that country, and (c) a firms skills and know-how are not amenable to licensing. Multi-Point Competition Arises when two or more enterprises encounter each other in different regional markets, national markets, or industries. The Radical, Free Market and Pragmatic Nationalism Views of FDI Benefits and Costs of FDI for a Host Country – Resource transfer effects, employment effects, balance of payments effects, effect on competition and economic growth. Host country benefits from initial capital inflow when MNC establishes businessFINANCIAL CREDIT Host country benefits if FDI substitutes for imports of goods and servicesCURRENT ACCOUN TCREDIT Host country benefits when MNC uses its foreign subsidiary to export to other countriesCredit on CURRENT ACCOUNT Resource-Transfer Effects: Capital, Technology and Management Employment Effects: Direct, Indirect, Substitution, and Acquisition Restructuring – -Mergers and acquisitions are quicker to execute. -Foreign firms have valuable strategic assets that would be risky and time consuming to develop. -Acquiring firm believes it can use its core competencies to increase the efficiency of the acquired firm. Balance-of-Payments Effects of FDI for the Home and Host Countries – Home country – The balance of payments account is improved by the inward flow of repatriated earnings. The balance of payments account is improved if the foreign subsidiary needs home country equipment, component parts, etc. National Sovereignty Sovereignty is the exclusive right to control a government, a country, a people, or oneself. A sovereign is the supreme lawmaking authority. Benefits and Costs of FDI for a Home Country – Balance of payments effects, employment effects. Home Country Policies to Encourage and Restrict Outward FDI – Restrict: Limits on capital outflows, tax incentives to invest at home, Nation-specific prohibitions Encourage: Foreign Risk Insurance, Capital Assista nce, Tax Incentives to Invest Abroad, Political Pressure. Host Country Policies to Encourage and Restrict Inward FDI – Restrict: Ownership Restraints Encourage: To gain from the resource-transfer and employment effects of FDI, to capture FDI away from other potential host locations. Performance Requirements – An expectation placed on a foreign direct thingy requiring them to do certain things like having some local employees. Basically, this puts restrictions on them like local production requirements. Regional Economic Integration –refers to agreements among countries in a geographic region to reduce and ultimately remove, tariff and non-tariff barriers to the free flow of goods, services, and factors of production between each other. Levels of Economic Integration: Free Trade Area: Remove internal Barriers Customs Union: Common External Barriers Common Market: Free Movement of Factors Economic Union: Common Economic Policy Political Union: Political Integration The Case for and the Case against Regional Integration â €“ For: Increases world production, stimulates growth, regional economic integration can provide additional gains from free trade beyond the international agreements such as GATT and TWO. Against: a regional trade agreement is beneficial only if it creates more trade than it diverts. Impediments to Regional Integration – Nation as a whole may benefit but certain groups within countries may be hurt. Concerns about loss of national sovereignty and control over the nation’s sovereignty and control over the nations monetary, fiscal and trade policies. Trade Creation versus Trade Diversion – When an inefficient non member nation replaces an efficient member nation (NAFTA). Like Mexico replacing China in the textile business. Creation: occurs when free trade leads to the substitution of inefficient domestic production for efficient production in another member country. Diversion: Occurs when efficient non-member production is replaced by inefficient production by a member nation as a result of high trade barriers for non-members. The European Union (EU) – is composed of 27 member countries, covers an area of 4 million square kilometers and has approximately 460 million inhabitants. The EU’s member states combined represent the world’s largest economy by GDP, the seventh largest territory in the world by area and the third largest by population. Political Structure of the European Union: European Commission, Council of the European Union, European Parliament and Court of Justice Optimal Currency Area In economics, an optimum currency area (OCA), also known as an optimal currency region (OCR), is a geographical region in which it would maximize economic efficiency to have the entire region share a single currency. It describes the optimal characteristics for the merger of currencies or the creation of a new currency. Copenhagen Criteria – are the rules that define whether a nation is eligible to join the European Union. The criteria require that a nation have the institutions to preserve democratic governance and human rights, a functioning market economy, and that the nation accept the obligations and intent of the EU. The Lisbon Treaty The Treaty of Lisbon (also known as the Reform Treaty) is a treaty designed to streamline the workings of the European Union (EU) with amendments to the Treaty on European Union (TEU, Maastricht) and the Treaty establishing the European Community (TEC, Rome), the latter being renamed Treaty on the Functioning of the European Union (TFEU) in the process. The stated aim of the treaty is to complete the process started by the Treaty of Amsterdam and by the Treaty of Nice with a view to enhancing the efficiency and democratic legitimacy of the Union and to improving the coherence of its action. The North American Free Trade Agreement (NAFTA): Pros and Cons of NAFTA – Pros: Labor intensive industries move to Mexico, resulting in better resource allocation, Mexico gets investment and employment, increased Mexican income to buy US/Canadian goods, demand for goods increases jobs, consumers get lower prices. Cons: Loss of jobs to Mexico for people who don’t have other employment options, Mexican firms have to compete against efficient US/Canadian firms, environmental degradation, loss of national sovereignty. The Andean Community The Andean Community is mainly a trade block formerly called the Andean Group (Grupo Andino, in Spanish) which saw light after the Andean Pact (Pacto Andino) or more formally the Cartagena Agreement (Acuerdo de Cartagena) was signed in 1969, in Cartagena (Colombia). Mercado Comà ºn del Sur (MERCOSUR) Argentina, Brazil, Paraguay, Uruguay, and Venezuala. Was originally envisioned as a common market but has yet to reach that goal. Critics contend the agreement results in more trade diversion than trade creation as a result of the high external tariffs. Free Trade Area of the Americas –was a proposal to expand NAFTA to include all countries in the Western Hemisphere, except Cuba. This region has 850 million people and a $13.5 trillion economy. Talks are stalled and stronger support would be needed by the USA and Brazil for this agreement to become a reality. Association of Southeast Asian Nations (ASEAN) / ASEAN Free Trade Area – Indonesia, Malaysia , Philippines, Singapore, Thailand, Brunei, Vietnam, Laos, Myanmar, and Cambodia. Total population of 500 million, GDP of US $740 billion, and a total trade of US $720 billion A free trade area among some of the nations exists, but several nations are refusing to lower all tariffs. Asia-Pacific Economic Cooperation (APEC) – Founded in 1990 to promote open trade and economic cooperation. Currently has 21 members including the United States, Japan and China. Members account for 57% of the world’s GNP and 46% of global trade. Despite little progress, it could potentially become the world’s largest free trade area. Fiscal versus Monetary Policy Market economies have regular fluctuations in the level of economic activity which we call the business cycle. It is convenient to think of the business cycle as having three phases. The first phase is expansion when the economy is growing along its long term trends in employment, output, and income. But at some point the economy will overheat, and suffer rising prices and interest rates, until it reaches a turning point a peak and turn downward into a recession (the second phase). Recessions are usually brief (six to nine months) and are marked by falling employment, output, income, prices, and interest rates. Most significantly, recessions are marked by rising unemployment. The economy will hit a bottom point a trough and rebound into a strong recovery (the third phase). The recovery will enjoy rising employment, output, and income while unemployment will fall. The recovery will gradually slow down as the economy once again assumes its long term growth trends, and the recovery will transform into an expansion. Foreign Exchange Market –a market for converting the currency of one country into the currency of another. Exchange Rate – the rate at which one currency is converted into another. Foreign Exchange Risk – the risk of an investment’s value changing due to changes in the currency exchange rates. Arbitrage – the purchase of a product in one market for immediate resale in a second market in order to profit from a price d iscrepancy. Currency Speculation – short-term movement of funds from one currency to another in hopes of profiting from shifts in exchange rates. Spot Exchanges –the exchange rate at which a foreign exchange dealer would convert one currency to into another currency on that day. Forward Exchanges – the exchange rate at which a foreign exchange dealer will agree to convert one currency into another currency on a specific date in the future. Hedging: Forward Contracts versus Options Selling on a Discount versus Selling at a Premium Currency Swaps A currency swap (or cross currency swap) is a foreign exchange agreement between two parties to exchange a given amount of one currency for another and, after a specified period of time, to give back the original amounts swapped. Economic Theories of Exchange Rate Determination – Law of One Price The law of one price is an economic law stated as: In an efficient market all identical goods must have only one price. The intuition for this law is that all sellers will flock to the highest prevailing price, and all buyers to the lowest current market price. In an efficient market the convergence on one price is instant. Purchasing Power Parity The purchasing power parity (PPP) theory uses the long-term equilibrium exchange rate of two currencies to equalize their purchasing power. Developed by Gustav Cassel in 1920, it is based on the law of one price: the theory states that, in an ideally efficient market, identical goods should have only one price. Big Mac Index The Big Mac Index is an informal way of measuring the purchasing power parity (PPP) between two currencies and provides a test of the extent to which market exchange rates result in goods costing the same in different countries. As stated in The Economist, it seeks to make exchange-rate theory a bit more digestible In 120 nations the big mac is the same. How Increasing the Money Supply Impacts Exchange Rates Price Discrimination Price discrimination or yield management occurs when a firm charges a different price to different groups of consumers for an identical good or service, for reasons not associated with costs. Fisher Effect / International Fischer Effect Real versus Nominal Interest Rates 8% interest + 2%inflation = 10% nominal interest. $100 on $1000 loan. Investor Psychology and Bandwagon Effects The Efficient Market School versus the Inefficient Market School – Efficient: Those who believe the foreign exchange market actually predicts things accurately. Fundamental versus Technical Analysis Currency Convertibility: Freely, Externally, and Nonconvertible Currencies Capital Flight Capital flight, in economics, occurs when assets and/or money rapidly flow out of a country, due to an economic event that disturbs investors and causes them to lower their valuation of the assets in that country, or otherwise to lose confi dence in its economic strength. This leads to a disappearance of wealth and is usually accompanied by a sharp drop in the exchange rate of the affected country (depreciation in a variable exchange rate regime, or a forced devaluation in a fixed exchange rate regime). Transaction versus Translation versus Economic Exposure – Economic exposure: the extent to which a firm’s future international earning power is affected by changes in exchange rates. Lead versus Lag Strategies – Lead: an attempt to collect foreign currency receivables when a foreign currency is expected to depreciate. Lag: An attempt to delay the collection of foreign currency receivables if that currency is expected to appreciate. Delay paying foreign currency payables if the foreign currency is expected to depreciate. International Monetary System – are institutional arrangements countries adopt to govern exchange rates. Exchange Rate Regimes: Formal Dollarization, Fixed, Currency Boards, Pegged, Dirty/Managed Floats and Independently Floating – The Gold Standard – Pegging currencies to gold and guaranteeing convertibility is known as the gold standard. Gold Par Value – The amount of a currency in an ounce, one ounce of gold was referred to as the gold par value. The Bretton Woods Exchange Rate System Created a fixed exchange rate system where the countries agreed to peg their currencies to the US dollar which was convertible to gold at $35 an ounce. Countries agreed to defend the value of their currencies to within 1% of par value. Currency, Banking and Foreign Debt Crises – Currency speculators believed that the devaluation of the dollar was inevitable. President Nixon dropped the gold standard conversion and the dollar was devalued. Following a second round of speculative attacks, the US dollar was allowed to float against other world currencies. Concerns about the IMF’s Policy Prescriptions – The system of adjustable parities allowed for the devaluation of a country’s currency by more than 10 percent if the IMF agreed that a country’s balance of payments was in â€Å"fundamental disequilibrium.† Moral Hazard – arises when people behave recklessly because they know they will be saved if th ings go wrong. Capital Market The capital market is the market for securities, where companies and governments can raise longterm funds. The capital market includes the stock market and the bond market. Financial regulators, such as the U.S. Securities and Exchange Commission, oversee the capital markets in their designated countries to ensure that investors are protected against fraud. The capital markets consist of the primary market, where new issues are distributed to investors, and the secondary market, where existing securities are traded. Cost of Capital The cost of capital is an expected return that the provider of capital plans to earn on their investment. Initial Public Offering Initial public offering (IPO), also referred to simply as a public offering, is when a company issues common stock or shares to the public for the first time. They are often issued by smaller, younger companies seeking capital to expand, but can also be done by large privately-owned companies looking to become publicly traded. Commercial Banks versus Investment Banks Equity Loan: An equity loan is a mortgage placed on real estate i n exchange for cash to the borrower. For example, if a person owns a home worth $100,000, but does not currently have a lien on it, they may take an equity loan at 80% loan to value (LTV) or $80,000 in cash in exchange for a lien on title placed by the lender of the equity loan. Debt Loans: A loan is a type of debt. This article focuses exclusively on monetary loans, although, in practice, any material object might be lent. Like all debt instruments, a loan entails the redistribution of financial assets over time, between the lender and the borrower. Corporate Bonds A Corporate Bond is a bond issued by a corporation. The term is usually applied to longer-term debt instruments, generally with a maturity date falling at least a year after their issue date. Systematic Risk In finance, Systemic Risk is that risk which is common to an entire market and not to any individual entity or component thereof. It can be defined as financial system instability, potentially catastrophic, caused or exacerbated by idiosyncratic events or conditions in financial intermediaries[1]. It refers to the movements of the whole economy and has wide ranging effects. It is also sometimes erroneously referred to as systematic risk. Portfolio Diversification – By using the global capital market, investors have a much wider range of investment opportunities than in a purely domestic capital market. The most significant consequence of this choice is that investors can diversify their portfolios internationally, thereby reducing their risk to below what could be achieved in a purely domestic capital market. Drivers of the Global Capital Market: Information Technology: Financial services is an information-intensive industry. It draws on large volumes of information about markets, risks, exchange rates, interest rates, creditworthiness, and so on. It uses this information to make decisions about what to invest where, how much to change borrowers, how much interest to pay to depositors, and the value and riskiness of a range of financial assets including corporate bonds, stocks, government securities, and currencies. Deregulation: Many restrictions have been crumbling in the US since the early 80s. In this part, this has been a response to the development of the Eurocurrency market, which from the beginning was outside of national control. Hot Money: In economics, hot money refers to funds which flow into a country to take advantage of a favorable interest rate, and therefore obtain higher returns. They influence the balance of payments and strengthen the exchange rate of the recipient country while weakening the currency of the country losing the money. These funds are held in currency markets by speculators as opposed to national banks or domestic investors. As such, they are highly volatile in Mexico and East Asian financial crisis. Patient Money: Selling land in large blocks under frontier conditions is to sell at a time before it begins yielding much if any rent. It is bid in by those few who have large discretionary funds of patient money. Eurocurrency Eurocurrency is the term used to describe deposits residing in banks that are located outside the borders of the country that issues the currency the deposit is denominated in. For example a deposit denominated in US dollars residing in a Japanese bank is a Eurocurrency deposit, or more specifically a Eurodollar deposit. Attractions and Drawbacks of the Eurocurrency Market Attractions: Lack of government regulation. Drawbacks: When depositors use a regulated banking system they know that the probability of a bank failure that would cause them to lose their deposits is very low. Secondly, borrowing funds internationally can expose a company to foreign exchange risk. Reserve Requirements The reserve requirement (or required reserve ratio) is a bank regulation that sets the minimum reserves each bank must hold to customer deposits and notes. These reserves are designed to satisfy withdrawal demands, and would normally be in the form of fiat currency stored in a bank vault (vault cash), or with a central bank. Foreign Bonds vs. Eurobonds: A Eurobond is an international bond that is denominated in a currency not native to the country where it is issued. It can be categorised according to the currency in which it is issued. London is one of the centers of the Eurobond market, but Eurobonds may be traded throughout the world for example in Singapore or Tokyo. Attractions of the Eurobond Market – Absence of regulatory interference. Less stringent disclosure requirements than in most domestic bond markets. A favorable tax status. The Impact of Exchange Rate Risk on the Cost of Capital Benefits and Costs of Financial Globalization Inter-Temporal Trade – Consumption smoothing usually between advanced economies and developing economies. Developing economies need money NOW. Capital Mobility The ability of money to cross national borders. The free flow of money in and out of a country. Impossible Trinity The Impossible Trinity (also known as the Inconsistent Trinity, Triangle of Impossibility or Unholy Trinity) is the hypothesis in international economics that it is impossible to have all three of the following at the same time: Exchange Rate Stability, Independent Monetary Policy, and Capital Mobility. You can only have 2 of these 3 things at the same time ever. The Exchange Rate is simply the relative price of currencies. For example: It tells you how many Euros you can get for a dollar. A government has to main monetary policies it can use: The Fiscal Policy, or the Monetary Policy The Fiscal Policy concerns government expenditures and tax collection The Monetary Policy concerns the interest rate in the economy. The interest rates are established to help stabilize the economy.