Farce and Satire in Shakespeares Comedy of Errors Essays

Farce and Satire in The Comedy of Errors All is not as it seems in The Comedy of Errors. Some have the notion that The Comedy of Errors is a classical and relatively un-Shakespearean play. The plot is, in fact, based largely on Plautuss Menaechmi, a light-hearted comedy in which twins are mistaken for each other. Shakespeares addition of twin servants is borrowed from Amphitruo, another play by Plautus. Like its classical predecessors, The Comedy of Errors mixes farce and satire and (to a degree) presents us with stock characters. Besides being based on classical models, is it really fair to call The Comedy of Errors a serious play? Im not sure it is. Three-quarters of the play is a fast-paced comedy based on†¦show more content†¦What is it, after all, that makes one person different from another? In the case of twins, where everything physical points to identity, how can we tell one person from the other? Some of the characters even begin to doubt their own identity. Dromio of Syracuse says, I am transformed, master, am not I?, and his master wonders, Am I in earth, in heaven, or in hell?/ Sleeping or waking, mad or well-advisd?/ Known unto these, and to myself disguisd? (II.ii.195, 212-14). The play may also be taken as commenting seriously on the limits of human perception and understanding. Both in the last scene and earlier, the strange happenings raise the questions of magic and madness. Antipholus of Syracuse says he thinks Ephesus may be full of sorcerers or witches (I.ii.99; IV.iii.11; III.ii.156), and he wonders more than once if he has gone mad. Dromio of Syracuse thinks he is in fairy land (II.ii.189). The play reveals the limits of human understanding, not only through the mistakes made throughout the play, but also through the fumbling attempts to account for what is happening in the final scene. The Duke wonders if everyone is mated, or stark mad (V.i.282), and Antipholus of Syracuse wonders if he is dreaming (V.i.377). Adriana (wife of the other Antipholus) puts the matter most directly when she says that her husbands presence in twoShow MoreRelatedHello2980 Words   |  12 Pagesof ideas in the order in which things occur; may move from past to present or in reverse, from present to past. Classification (as means of ordering)—Arrangement of objects according to class; e.g., media classified as print, television, radio. Comedy of Manners—A work that deals with the relations and intrigues of gentlemen and ladies living in a polished and sophisticated society; it evokes laughter mainly at the violations of social conventions and decorum and relies on the wit and humor ofRead MoreElizabethan Era11072 Words   |  45 Pages to which tales the Italian name novella (novel) was applied. Most of the separate tales are crude or amateurish and have only historical interest, though as a class they furnished the plots for many Elizabethan dramas, including several of Shakespeares. The most important collection was Painters Palace of Pleasure, in 1566. The earliest original, or partly original, English prose fictions to appear were handbooks of morals and manners in story form, and here the beginning was made by JohnRead Morewisdom,humor and faith19596 Words   |  79 Pagesby comparison with the infirmity of others, or with our own formerly.† Conversely, Solomon thinks that in viewing folly (for example, that of the Three Stooges comedies) we can see our own tendency to unwise behavior and that it can help us become more modest and compassionate—both important steps to becoming wiser. Th e encyclopedia essay also indicates that some thinkers view humor as a form of play and that humor has â€Å"until recently has been treated as roughly co-extensive with laughter,† thoughRead MoreANALIZ TEXT INTERPRETATION AND ANALYSIS28843 Words   |  116 PagesDickens’ novels, they often serve as convenient vehicles for humour and satire. These characters and their deeds are always predictable and never vary. Flat characters are usually minor actors in the novels and stories in which they appear, but not always so. Flat characters have much in common with the kind of stock characters who appear again and again in certain types of literary works: e.g., the rich uncle of domestic comedy, the hard-boiled private eye of the detective story, the female confidante

My Role As A Student Nurse - 1906 Words

In this paper, I will be discussing my learning experiences during term three. In order to classify and expand on what I have learned, I will be writing about two roles I have assumed as a student nurse, how I have developed those roles through theory and practice, how my thinking has changed, and what I would like to change in the future. Summary Through exposure to theoretical, observed, and experimental knowledge I have learned the importance of individual care in community health, and how my role as a communicator and caregiver has enhanced my learning. I learned to develop my critical thinking skills by taking concepts from my theory and relating them to my practice as a registered nurse. When I first began the program I believed that the role of the registered nurse was to care for the patient’s grievances, which was limited to the physical aspect of patient care. I thought that nurses would simply be following orders based on the doctor’s orders. I quickly learned throughout the semester this was a great misrepresentation of the roles of the registered nurse. Throughout this semester, I learned that registered nurses work based off of their own assessment and diagnosis, and they work to improve all aspects of patient care. I learned that the registered nurse was not limited to one role, and that the registered nurse would be working to improve herself in all aspects of practice. The first role I undertook during the last 13 weeks was the role of the communicator.Show MoreRelatedMy Role As A Student Nurse1625 Words   |  7 Pages It was half way through my acute care rotation at a large, urban hospital. Over the course of my placement I had seen a myriad of patients with diverse diagnoses, from tuberculosis to addiction, to pneumonia to HIV/AIDS. Overall, I was beginning to feel confident in my role as a student nurse. I was becoming familiar with my tasks and getting to know the unit. On this particular week, I was assigned to care for Mrs. S, a 54 year old woman with an inoperable glioblastoma admitted to hospitalRead MoreThe Experience Of The Student Nurse Graduate1399 Words   |  6 Pagesthe student nurse graduate transition influences the importance as it will become their desire to continue practising as a registered nurse (Cleary et al. 2011, 2013). Even though the nursing degree’s clinical practice is a compulsory element of the undergraduate nursing program, it cannot be experienced from a registered nurse perspective, until nursing students have transitioned to a registered nurse. This imposes a change in roles and different expectations which causes concerns for student nurseRead MoreTransition From A Student Nurse Essay1125 Words   |  5 PagesTransition from Student to Nurse A number of emotions were felt during this experience, in regards to transitioning from a student nurse to the registered nurse role. Primarily, the transition in role from student nurse to registered nurse was similar to any clinical experience I have had at Midlands Technical College. I was placed in a medical-surgical rotation. I felt slighted that not only were we required to complete a data tool but we also participated in the teamwork model demonstrated inRead MoreTeaching And Learning Theoretical Framework Essay1694 Words   |  7 Pageslearn from teaching my students. I will develop a more in depth understand and possibly a view from a different perspective. My philosophy of teaching is written from the perspective of a graduate school student. I have not yet begun my career in academia. I expect my philosophy to develop over the years and change with experience. I pray it does because if it does not, something is terribly wrong. Teaching/Learning Theoretical Framework The Theoretical framework that guide my educational philosophyRead MoreThe Foundation Of The Jjc Nursing Program Essay1105 Words   |  5 PagesMy practicum setting will be an associate degree nursing program, Joliet Junior College (JJC), one of the oldest community colleges in Illinois. The mission of the school is focused on offering students an affordable, accessible valued education for a lifelong profession in nursing, and to serve the community (Joliet Junior College [JJC], n. d.). Accordingly, the school’s philosophy is based on preparing students to be exceptional providers in the growing healthcare system, providing safe and highRead MoreMy Philosophy Of Nursing Education770 Words   |  4 PagesMy philosophy of nursing education grows out of my philosophy of nursing. Much has been said related to healthcare reform, healthcare globalization, and healthcare delivery. A resounding theme in all of these discussions is the need for nurses to take a position of leadersh ip in the healthcare industry (Institute of Medicine, 2010). I believe nurses, as leaders, are uniquely qualified to bridge the gap between the healthcare industry and a rapidly changing global environment. Nurses are educationallyRead MoreThe Role Of Nurse Educator Essay1132 Words   |  5 PagesEducational Philosophy I am not new to the role of nurse or educator, but to the role of nursing educator. My motivation to teach future generations of nurses prompted my transition from a clinical nurse to an academic nurse educator. My interest in teaching comes from my own positive experiences as an undergraduate student and from a love of learning. My educational philosophy is a work in progress as I continue to grow as a nurse, educator, and scholar of nursing education. As a novice nursingRead MoreIn Part One Of This Assignment I Discussed My Experiences1326 Words   |  6 PagesIn part one of this assignment; I discussed my experiences as a Licensed Practical Nurse. I recalled into some of the biggest hurdles I tackled and now I envision the challenges, I may face during the transition. In this paper, I will be further discussing the transition from Licensed practical nurse to Registered nurse. The focus is on the responsibilities of a RN and stages of change in becoming a student once again. As I discussed in my video, there are challenges that I will face in the upcomingRead MoreAnnotated Bibliography On My Learning And Growth As A Nursing Student Essay1279 Words   |  6 Pagesto Enhance My Learning and Growth as a Nursing Student The following paper is an annotated bibliography containing three articles found in peer reviewed journals related to the practice of nursing. After first evaluating key points of each article, I will reflect upon them to assist me in enhancing my practice as a beginner nurse. Grealish, L., Ranse, K. (2009). An exploratory study of first year nursing students’ learning in the clinical workplace. Contemporary Nurse, 33(1), 80-92Read MoreA Reflection On Teaching Philosophy961 Words   |  4 Pagesstatement is a document that educators prepare to express their personal ideas regarding the teaching role. Often used as part of the application packet for an academic position and in teaching portfolios for tenure and promotion reviews, teaching philosophy statements allow educators to reflect on their teaching practices and validate their success in teaching. Teaching philosophies can guide academic nurse educators by ensuring that they are using varied pedagogies that stimulate critical thinking and

Environmental and Social Impacts of Tourism in the Uk Free Essays

Discuss the environmental and social impacts of tourism in the UK and consider whether the benefits exceed the costs. Tourism is a fast growing industry and a valuable sector, contributing significantly to the economy (â€Å"The Social Cultural Impacts of Tourism†, n. d. We will write a custom essay sample on Environmental and Social Impacts of Tourism in the Uk or any similar topic only for you Order Now ). It has been generally accepted that tourism is, for the most part and with relatively few exceptions, beneficial to both generating and destination countries (Holloway, 2009, p. 114). Some researchers are less sure that this is the case. This essay will discuss the environmental and social impacts of tourism in the UK considering whether the benefits exceed the costs. The socio-cultural impacts on host communities are the result of direct and indirect relations with tourists and of interaction with the tourism industry. For a variety of reasons, host communities often are the weaker party in interactions with their guests and service providers (â€Å"Socio-cultural impacts†, n. d. ). It is very difficult to measure the way in which the presence of large number of tourists affects the society and culture of host areas. In many cases, the effects are gradual, invisible and complex. (Davidson, 1993, p. 165). The impacts can be positive, such as the case where tourism enhances the cultural exchange between two distinct populations. The impacts can also be negative, such as the commercialisation of arts and crafts and ceremonies/rituals of the host populations (Cooper, Fletcher, Gilbert Wanhill, 1998). Some of the beneficial impacts of tourism on society include the following: the creation of employment, the revitalisation of poor or non-industrialized regions, the rebirth of local arts and crafts and traditional cultural activities, the revival of social and cultural life of the local population, the renewal of local architectural traditions, and the promotion of the need to conserve area of outstanding beauty which have aesthetic and cultural value (Mason, 2003, p. 43). In Britain, for example, many great buildings from eighteen and nineteen century would have been lost had it not been possible to convert these factories, mills and warehouses into living museums for the tourist (Holloway, 2002). With the increasing secularization of Western societies, it is also tourists who will ensure that great cathedrals survive as the costs of maintaining these buildings for dwindling numbers of worshippers can no longer be borne by the ecclesiastical authorities alone(Holloway, 2009, p. 114). Whole inner-city and dockland areas have been restored and developed to make them attractive as tourist sites. Moreover, London would be a poorer place without its tourists: 40 percent of West End theatre tickets are bought by tourists (Holloway, 2002, p. 354). Tourists’ use of public transport enables residents to enjoy a better and cheaper service than would otherwise be possible (Holloway, 2009, p. 114). Country crafts, pubs, even restoration of traditional pastimes such as Morris dancing, all owe their survival to the presence of the tourist (Holloway, 2003, p. 55). There is also the socio-cultural impact of tourism on the visitor population. For instance, the growth of UK tourists visiting Spain throughout the 1960s and 1970s resulted in culinary and beverage changes in the UK (paella and Rioja wine being two Spanish products that benefited from this exchange) (Cooper, Fletcher, Gilbert Wanhill, 1998, p. 169). Visitors to Australia adopted the beach-based lifestyle and t he barbecue when they returned home (Cooper, Fletcher, Gilbert Wanhill, 1998). However, tourism has the reputation for major detrimental effects on the society and culture of host areas (Mason, 2003, p. 43). Tourism can cause: change or loss of indigenous identity and values, culture clashes, social stress, ethical issues, crime, deteriorating working employment conditions (â€Å"Negative Socio-Cultural Impacts from Tourism†, n. d. ). Tourism can induce change or loss of local identity and values, brought about by several closely related influences: commercialization of local culture, standardisation or adaptation to tourists demands (â€Å"Socio-cultural impacts†, n. . ). For example, creating molas, which are the blouses worn by Kuna women in Columbia, is an art that began with design that reflected the conception of the world, of nature, and the spiritual life of the Kuna Nation. Now it is increasingly being transformed, through tourism, into a commercial trade which causes loss of its spiritual value and quality (â€Å"Negative Socio-Cultural Impacts from Tourism†, n. d. ). Cultural clashes may further arise from: economic inequality, irritation due to tourist behaviour like disregarding the dress code in Muslim countries, and job level friction. Moreover, increased tourism flow is causing severe social stress to local communities. Stress evolves from: resource use conflicts, cultural deterioration, conflicts with traditional land-uses. Partly due to the above impacts, tourism can create more serious situations where ethical and even criminal issues are involved: child labour, prostitution and sex tourism (â€Å"Socio-cultural impacts†, n. d. ). There is growing concern of the global spread of AIDS and increasing impact of tropical and sexual diseases on more adventurous mass tourists (Holloway, 2009, p. 14). Over the last few years second-home tourism has become more popular, emerging as an important part of the tourism sector in a number of countries. Second homes are usually located near attractive locations, such as the sea, lakes, mountains or rural areas and often have a connection to their owners’ origins (Pedro, n. d. ). Surveys revealed that half a million English households owns second homes outside of the UK. Sometimes incomers ‘blend in’ and little conflict or damage results, but where larger groups settle may transform local culture and undermine traditions (Holloway, 2009). Tourism also impacts a key factor in tourism: the environment. The environment is made up of both natural and human features (Mason, 2003, p. 52). As soon as tourism activity takes place, the environment is inevitably changed or modified either to facilitate tourism or during the tourism process (Cooper, Fletcher, Gilbert Wanhill, 1998, p. 150). The impact can be positive or negative. The positive environmental impacts associated with tourism include: the preservation/restoration of ancient monuments, sites and historic buildings, such as the Great Wall of China, the Pyramids (Egypt), the Taj Mahal, Stonehenge and Warwick Castle (UK); the creation of national parks and wildlife parks, such as Yellowstone Park (USA), Fjord Land National Park (New Zealand); protection of reefs and beaches, the Great Barrier Reef (Australia); the maintenance of forests such as the New Forest (UK) (Cooper, Fletcher, Gilbert Wanhill, 1998, p. 151). The world is full of examples of individual buildings and whole areas which have been given a new lease of life by the tourism industry (Davidson, 1993, p. 131). The following have been regarded as negative environmental impacts: pollution, congestion, erosion (Holloway, 2002). Much of the damage done to the environment is caused by volume of visitors arriving at destinations which are not used to supporting people in such great numbers (Davidson, 1993). The technological complexity of contemporary living has led to various forms of pollution: air pollution, water pollution, noise pollution, visual pollution. Air pollution can be a cause of large-scale tourist movement using mass transportation and fuel burn from aircrafts (Holloway, 2002). Untreated sewage, fuel spillage and rubbish from pleasure boats contribute to water pollution (Davidson, 1993). Noise, too, must be considered a form of pollution. Aircrafts taking off and landing at busy airports can severely disturb local residents, as well as noise from vehicles or tourist attractions: bars, discos, etc. Visual pollution can be ascribed to insensitivity in the design of buildings for tourism. For example, British towns are losing their local character, as builders choose to build in ubiquitous London brick rather than the materials available locally (Holloway, 2002, p. 356). The worst examples of this are the solid rows of hotels which are often developed along coastlines, to the extent that the beach and the sea are almost blocked from the view of those living in the original coastal towns (Davidson, 1993, p136). Perhaps the most significant problem created by mass tourism is that of congestion (Holloway, 2002, p. 358). Congestion on the streets, queues in shops and overcrowding on buses and trains are the inevitable consequences of the mass influx of tourists into towns and cities (Davidson, 1993, p. 137). Many popular rural sites such as National parks are at risk from the number of visitors they receive. Over 100 million visitors visit the UK’s National Parks each year (Holloway, 2002). Vegetation also suffers in area of high tourist intensity as constant trampling and crushing by feet and car wheels can lead to erosion and to disappearance of fragile species. Many footpaths in Britain are being widened to such an extent that the surrounding areas are suffering serious erosion (Davidson, 1993, p. 133). In conclusion, there is clear evidence that host communities perceive both costs and benefits (Nickerson Jennings, 2006, p. 195) and it is commonly observed that the environmental and social impacts are less desirable (Jafari, 2003, p. 297). Measurements of the various types of impacts of tourism are undertaken using very different methods and indicators (Jafari, 2003). For example, environmentalists may measure the volume of global travel and its impacts (Holloway, 2009), and social impacts may be examined through questionnaire surveys. This makes it difficult, if not impossible, to combine the results of such studies to ascertain if the benefits exceed the costs (Jafari, 2003, p. 297). Mark Ellingham, founder of Rough Guides, said during one interview in 2007 that: â€Å"It is hard to say the positive impact travelling has can ever outweigh the damage done by simply travelling to the destination. Balancing all the positives and negatives, I’m not convinced there is such a thing as a responsible or ethical holiday†. Bibliography Cooper, C. , Fletcher, J. , Gilbert, D. , Wanhill, S. (1998). Tourism: Principles and Practices. Harlow: Pearson Education Limited. Davidson, R. (1993). Tourism (2nd Edition). Harlow: Longman Group Limited. Holloway, C. (2002). The Business of Tourism (6th Edition). Harlow: Pearson Education Limited. Holloway, C. (2009). The Business of Tourism (8th edition). [Electronic version]. Harlow: Pearson Education Limited. Jafari, J. (2003). Encyclopedia of tourism. [Electronic Version]. Oxon: Routledge Mason, P. (2003). Tourism Impacts, Planning and Management. Oxford: Butterworth-Heinemann. Negative Socio-Cultural Impacts from Tourism (n. d. ). Retrieved December 8, 2010, from UNEP website: http://www. unep. fr/scp/tourism/sustain/impacts/sociocultural/negative. htm Nickerson, N. , Jennings, G. (2006). Quality tourism experiences. [Electronic version]. Oxford: Butterworth-Heinemann Page, S. , (2003). Tourism Management: managing for a change. Oxford: Butterworth-Heinemann. Pedro, A. (n. d. ). Urbanization and second-home tourism. Retrieved December, 8, 2010, from: http://www. download-it. org/free_files/filePages%20from%2010%20Urbanization%20and%20second-home%20tourism. pdf Socio-cultural impacts. (n. d. ). Retrieved 6 December, 2010, from Sustainable Tourism website: http://www. coastlearn. org/tourism/why_socioimpacts. html The Social Cultural Impacts of Tourism. (n. d. ). Retrieved December 6, 2010, from: http://www. gawler. sa. gov. au/webdata/resources/files/5_Gawler_Impacts_Tourism. PDF How to cite Environmental and Social Impacts of Tourism in the Uk, Essay examples

Implications of Onshore and Offshore Business Process

Question: Discuss about the Implications of Onshore and Offshore Business Process. Answer: Introduction The report focuses on the SA manufacturer of Australia Avery Dennison. The organization moves its business due to numerous competitive advantage in Australia (Corporate - Global Packaging Trends In Consumer Goods Packaging | Avery Dennison 2017).The moving of the business to offshore leads to loss of 40 local jobs. The organization moved its northern operations to various countries like India, Thailand and Malaysia. The report discusses various external and internal issues that affect SA manufacturer. The report also illustrates the impact of shifting the offshore activities on the various identified stakeholders and analysis of the reason that affect the number of jobs continuation in Australia. Organization Background The organization Avery Dennison is a manufacturer as well as distributor of sensitive adhesive material, branding tags, levels and especially medical products. The organization wants to shift some of its operation to offshore which resulted in loss of 40 jobs (SA Manufacturer To Move Offshore 2017). The organization informed its staff that the Edinburgh North operation will be transferred to various countries including India, Thailand and Malaysia. The executive of the organization mentioned that the affected staff will be provided with some opportunities in different areas of business. The organization Avery Dennison takes the step of moving the business to offshore in order to address various challenges of the market condition with which the organization got affected (Corporate - Global Packaging Trends In Consumer Goods Packaging | Avery Dennison 2017). The organization is supporting its employees so that the can cope up with the changing environment but the step of the organization have resulted in numerous jobs. The organization works closely with various union as well as government agencies for helping the employees. The steps of moving some of the specific operations of the business are mainly for gaining competitive advantage in the market of Australia. External issues that affect SA manufacturer and driven it to employ a strategy that has resulted in moving jobs offshore The organization decided to shift some of its operations due to some reasons which resulted in loss of 40 jobs. The decision of shifting the organization is due to some of the external issues (SA Manufacturer To Move Offshore 2017). The external issue that is faced Avery Dennison is analyzed with the help of Porter Diamond model. The model helps in reflecting the competitive position of the organization. The model is illustrated below: The factor conditions: The organization faces problems as there is unavailability of proper research on the materials that are used by the company (Riasi 2015).The employees are not trained as a result they do not have proper and effective knowledge. Related and supporting industries: The organization does not get enough support from its competitors but they generate number of challenges for Avery Dennison in the market place by selling the products at lower prices. Home Demand Conditions: The organization is not achieving proper financial benefits while operating in Australia as because of its competitors (Jarungkitkul and Sukcharoensin 2016).The market of the company diminishes as its competitors sales products at low prices. Strategy, structure and Rivalry: The strategy of the organization is organized properly for aging the goals as well as objectives of the organization. The cultural aspect of Australia plays an important role in the development of Avery Dennison but the organization faces huge competition from its rivalry (Lu, Wu and Meng 2015). The organization is facing huge challenges for the market of Australia. Government: The government of Australia encourages the organization in the development procedure of Avery Dennison (Liu and Mao 2014).The government finance system helps in providing a major support to the organization but some of the regulations made by the government have a negative impact on the growth of the organization. Chance Events: The organization does not any new opportunities in the market of Australia to starting a new operation. After analyzing the Porters Diamond model, it is identified that the organization faces numerous challenges due to its competitors and therefore it decided to move some of its jobs offshore. The Porters Diamond model helps in all the reflecting all the external issues that is the cause of shifting jobs offshore. Internal issues that are making SA manufacturer to consider moving jobs offshore as a part of its strategy The organization Avery Dennison is moving some of its operations to offshore. This is for gaining competitive advantage in the market of Australia as the organizations have faced numerous challenges in the market of Australia (SA Manufacturer To Move Offshore 2017). The decisions of shifting the operations of the organization have both advantages as well as disadvantages. In order to analyze all the advantages as well as disadvantage of moving jobs offshore, SWOT analysis is selected. The analysis will reflect some of the strategy which is considered by the organization for moving the jobs offshore. The SWOT analysis is considered as one of the useful technique for illustrating comprehensive strengths, weaknesses, potential opportunities as well as threats (von Kodolitsch et al. 2015). Strengths: The operation of the organization includes more than 200 facilities of manufacturing globally with 40, 000 employees approximately. The organizations have strong market presence in Australia including sales as well as various distribution networks. It is analyzed that the annual collection of revenue from the Southern Australian zone is too high and therefore the organization have strong financial position in the parts of Australia (Chen, Kim and Yamaguchi 2014). In Australia the organization does not have spent money in training employees as the staffs of the organization are quite experiences. The labor cost is also too low as compared to other countries. Therefore the revenue collected from the Australian zone is high. The presence of monetary assistance plays a major role in strengthening the position of Avery Dennison in Australia. All this points helps in reflecting the strengths as well as advantages of having business in Australia. Weaknesses: The organization faces problems due to prediction of future probability as well as future market size. The products of the organization have high prices as compared to the products that are sold by its competitors (Uhrenfeldt et al. 2014). This is one of the major drawback or weakness of the company. The organization faces number of challenges due to the current market condition of Australia. The operation clash flows of the organizations are also weak which is mainly due to weak return on equity over the industrial sector. Opportunities: There are number of opportunities for Avery Dennison due to the rising demand of the products. The various emerging market in different countries is quite advantageous for the products as well as services of the organization. The new markets are considered as an opportunity for Avery Dennison where they can expand their various operations (Bull et al. 2016). They can introduce new product as well as services in different countries due to the emergence of new markets. It is analyzed that the Strategic acquisitions of Paxar Corporation have exposed the fact that the organization is wider customer based in the economic zone of Australia. Threats: There are number of threats that are faced by the organization. The threats included enhanced cost of raw material as well as labor (von Kodolitsch et al. 2015).With the changes in the market the organization have to face this type of challenges. The competitors of the organization are coming with better quality of product at low price and the labor cost is increasing constantly. The regulations of the government generated number of risks in the growth of the company in Australia. It is analyzed that shifting of various operations to offshore is done by the organization is due to the threats that are present in the market of Australia. The organization faces number of opportunities that leads Avery Dennison to shift its business. Identification of stakeholders of SA manufacturer and the affect of shifting the offshore activities on them The different stakeholders of the organization include the employees of the organization, the customers, chief executive officer, human resource manager, supplier, and government. Chief Executive officer: The chief executive officer of the organization faces many challenges due to the shift (Riasi 2015). They have a responsibility to provide some opportunities to the employees whose jobs were lost due to the decision of shifting. The organization needs to implement several procedures for managing the change within the organization effectively. Government: The regulations which have been created by the government got affected and as a result it creates a negative result in the growth of the organization and this is due to shifting of the jobs to offshore (Cummings and Worley 2014). Human resource manager: The HR manager also gets affected and as a result they have to implement change management properly within the organization as well as they have to sack the employees of the organization which is one of the difficult jobs (Trussell and Chevis 2014). Due to the decision of the organization, around 40 people got affected. Supplier: The suppliers got affected significantly. The raw materials that are provided to the organization will be stopped due to the decision of moving the business operations to offshore (Baskaran 2016) The suppliers will face huge loss due to this shifting. Employees: The organizations decisions have affected around 40 jobs of the Australians. The have to search new job and as a result their source of income got affected a lot. Customers: The customers will get products of Avery Dennison at higher price than the process they usually get (Thompson et al. 2013) The shift of the organization to offshore result into additional taxes as well as transportation cost which increases the entire cost of the products. Reasons of keeping numerous jobs onshore by Avery Dennison There are number of reasons of keeping the various jobs as well as operations onshore by the organization Avery Dennison. This is because in the Australian market the organizations have number of opportunities including lower cost of the labor, experienced employees within the organization and presence of monitory assistance (SA Manufacturer To Move Offshore 2017). These factors are quite advantageous for the organization in achieving benefit in the market of Australia. The lower cost of the labor helps in saving a huge amount of financial expense of the organization. The presence of monetary assistance plays a major role in strengthening the position of Avery Dennison in Australia (Onshore Implications - Seafish 2017). The organization have strong market position in Australia therefore keeping numerous jobs onshore helps in grabbing the entire market of Australia by providing string competition to the various competitors. The sale of the organization does not also get affected. Implications of keeping jobs onshore by Avery Dennison There are number of implications of keeping various jobs onshore which includes: Sales of the organization do not get affected: Due to the presence of several jobs in offshore the organization has a grab on Australian market (Whitaker 2017). Therefore sales of Avery Dennison do not get affected. Reduced overheads: it helps in reducing overheads as the labor cost is too low which is advantageous for Avery Dennison (Onshore Implications - Seafish 2017). Availability: The staff or employees are easily available and they do not require training. The employees are quite experienced which is advantageous in saving the financial expense of Avery Dennison. Conclusions It is concluded that the organization Avery Dennison shifted some of its operation to offshore as it faces huge completion in the Australian market and shifting of operations provides numerous opportunities to the organization. The opportunities that the organization gets after achieving its business includes rising demand, new markets and opportunities to implement new services as well as products. The organization faces numerous external as well as internal issues in Australia therefore decided to shift its business offshore which leads to loss of 40 jobs. It is analyzed that different stakeholders of the organization gets affected due to the decision of shifting. References "Corporate - Global Packaging Trends In Consumer Goods Packaging | Avery Dennison". 2017.Averydennison.Com. https://www.averydennison.com/en/home.html. "Onshore Implications - Seafish". 2017.Seafish.Org. https://www.seafish.org/responsible-sourcing/conserving-fish-stocks/discards/landing-obligation/onshore-implications. "SA Manufacturer To Move Offshore". 2017.Adelaidenow.Com.Au. https://www.adelaidenow.com.au/business/sa-manufacturer-to-move-offshore-affecting-40-employees/news-story/2abe06850f17da5bd5d25c3256c7bdb1. Baskaran, R.V., 2016. A critical study into discerning challenges posed by visible US based BPOs an open-source onshore model which is a hybrid between outsourcing and captive.Indian Journal of Applied Research,6(3). Bull, J.W., Jobstvogt, N., Bhnke-Henrichs, A., Mascarenhas, A., Sitas, N., Baulcomb, C., Lambini, C.K., Rawlins, M., Baral, H., Zhringer, J. and Carter-Silk, E., 2016. Strengths, weaknesses, opportunities and threats: A SWOT analysis of the ecosystem services framework.Ecosystem Services,17, pp.99-111. Chen, W.M., Kim, H. and Yamaguchi, H., 2014. Renewable energy in eastern Asia: Renewable energy policy review and comparative SWOT analysis for promoting renewable energy in Japan, South Korea, and Taiwan.Energy Policy,74, pp.319-329. Cummings, T.G. and Worley, C.G., 2014. Organization development and change. Cengage learning. Jarungkitkul, W. and Sukcharoensin, S., 2016. Benchmarking the competitiveness of the ASEAN 5 equity markets: an application of Porters diamond model.Benchmarking: An International Journal,23(5). Liu, X. and Mao, H.Y., 2014. Analysis on Problems of Liaoning Tourism Industry Based on DIAMOND MODEL. InApplied Mechanics and Materials(Vol. 651, pp. 1527-1530). Trans Tech Publications. Lu, M., Wu, Z. and Meng, Q., 2015. Comprehensive Development Evaluation System of Asian Infrastructure Investment Bank Based on Double Diamond Model.American Journal of Industrial and Business Management,5(07), p.518. Riasi, A., 2015. Competitive advantages of shadow banking industry: An analysis using Porter diamond model.Business Management and Strategy,6(2), pp.15-27. Trussell, J. and Chevis, M., 2014, May. Olympus TLP Operations TeamEnabling a community of excellence. InOffshore Technology Conference. Offshore Technology Conference. Uhrenfeldt, L., Lakanmaa, R.L., Flinkman, M., Basto, M.L. and Attree, M., 2014. Collaboration: A SWOT analysis of the process of conducting a review of nursing workforce policies in five European countries.Journal of nursing management,22(4), pp.485-498. von Kodolitsch, Y., Bernhardt, A.M., Robinson, P.N., Klbel, T., Reichenspurner, H., Debus, S. and Detter, C., 2015. Analysis of strengths, weaknesses, opportunities, and threats as a tool for translating evidence into Individualized medical strategies (I-SWOT).AORTA Journal,3(3), p.98. Whitaker, Jonathan William. 2017. "Implications Of Onshore And Offshore Business Process Outsourcing For Firms And Customers.".Deepblue.Lib.Umich.Edu. https://deepblue.lib.umich.edu/handle/2027.42/126853.

Benefits of Regular Exercises free essay sample

What are the benefits of regular exercise? The benefits of regular exercise are a controversial topic. While some exercise for superficial reasons, the reality is regular exercise is vital. Some of the benefits are: a healthy heart, lower risk of brain stroke, and reduce the obesity rate in our country. Daily exercise decreases the risk of having a premature heart attack. For instance, one who exercises routinely often lowers his or her heart rate. In addition, the blood pressure and cholesterol, common associate with metabolic syndrome, is decreased which represents one of the majors risks for develop a heart attack. Many studies around the world agree that when patients exercise regularly, it reduces the risk of brain stroke. Exercise makes blood flow faster through the brain, bringing essential nutrients, and removing the harmful toxic normally produced by the metabolism in regular cell functions. Its means that exercise routine can lower the risk of ischemia (low oxygenated blood flow) also decrease and the developing of some age diseases like Alzheimer and dementia, by improving the normal brain function. We will write a custom essay sample on Benefits of Regular Exercises or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page And for that patient that’s already experiment strokes, exercises offers beneficial effects for recovery lost function, and decrease the change for future strokes. Lastly, exercise is essential to reducing obesity rate in our country. According to vary researches , more than the third part of adult American are obese, and at least, fifty percent of them have already diagnosed with diabetes mellitus type 2, or in risk to have it. For those one’s already diagnosed, regular exercise increase they survival over a thirty percent compared with those people that do not to exercise at all. In addition, reduce the appearance of the major’s complications of the diabetes (nephropathy, arteriopathy, retinopathy, and neuropathy. Also made their treatment easier, by reducing the insulin resistance, resulting in the use of fewer amounts of drugs (insulin or oral anti diabetic) required maintaining a suitable blood glucose level. And for suspect case with high risk factor, prevent the development of the disease. In conclusion made regular exercise, more than just to accomplish the fact of look pretty, could save your life, or bring the opportunity of more quality life years. It gives you a chance to unwind, enjoy yo ur day or simply engage in activities that make you happy. By Aura Huasipoma.

5-Complaints-You-Arent-Hearing-From-Your-Employees

5-Complaints-You-Arent-Hearing-From-Your-Employees Even the best leaders occasionally overhear the people they supervise griping about something at work- interdepartmental kvetching is normal, and it can even be healthy blow off steam! But that doesn’t mean it’s easy to hear. Heather Younger, Employee Experience Consultant writing for the Huffington Post, has some insights- the things your employees are probably thinking but don’t want to tell you. Maybe you can start making changes before discontent roils over into more disruptive activity.1. They want you to care about them as people.Yes it takes energy to get to know your employees and accommodate their needs, but it’s a crucial investment in the strength of your business and the resilience of your workforce. Be willing to listen- even to the things that are tough to hear- and willing to take action once you’ve received valid feedback.2. They feel they can’t provide honest feedback.Every employee can probably point to a time when they spok e up about something and were ignored or overruled or faced consequences later. Have you created a safe space? Do employees have an anonymous way to contribute feedback?Let them tell you what you could be doing better, and don’t punish them for noticing vulnerabilities. Provide positive recognition for employees who provide especially helpful ideas, and you will be rewarded with closer working relationships among your team.3. They often do not trust their manager or senior leaders.Mistrust, in my experience, arises when employers actions do not match their words. If your employees see you putting on one face in a meeting and another one behind closed doors, if you make promises you fail to fulfill, or if you violate their confidence, their trust in your may take a hit. This is particularly true for micromanagers- if you clearly don’t trust your employees to do the job you hired them for, why should they trust you to direct their talents and time?4. Recognize and cultiv ate meaningful work.Odds are you’ve already learned about at least a few of your employees’ outside passions- the things they would spend time on even if they weren’t paid to do it. How can you bring some element of those hobbies or interests into their daily work?At my most frustrating job experience with an arts education nonprofit, one of the best outlets my manager was able to give me was helping in an arts workshop after school. It gave me a break from writing grants and trying to manage board members and provided a really important window into the teaching I really wanted to be doing. Maybe it feels silly to have a conversation about how to bring private interests into the workplace, but it revolutionized the way I thought about that job.  5. Many are seeking opportunities to grow, inside or outside of your organization.Along the same lines, remember that your employees probably don’t see themselves in their current role permanently. If you donâ⠂¬â„¢t already have annual meetings to review their work and set short- and long-term goals, establish some ASAP. Make sure you know what they’re hoping to accomplish and take steps together to advance them towards those goals. If you don’t, some other company will.So open your door and listen up- try to hear what your employees aren’t saying and respond as though they had spoken up!5 Things Your Employees Aren’t Telling You But You Need to KnowRead More at Huffington Post

Hamlet Essay Example | Topics and Well Written Essays - 750 words - 15

Hamlet - Essay Example In the first soliloquy in Act 1 Scene 2, Hamlet reveals his deep affection for his late father and brings him out as a loving husband and respected father. Hamlet also reveals his anger towards his mother in the fact that she was hasty to get married to Hamlet’s uncle Claudius even before the dead King is buried. Consequently, the queen hastens the burial and doesn’t provide enough time to mourn for a respectable period of time â€Å"would have mourned longer, - married with mine uncle† (Shakespeare, 1601-1603). The loss of his father and the disloyal marriage of his mother to his uncle introduce to him the dilemma of whether or not to commit suicide or the wish to have his physical self cease to exist (Crapanzano, 1992). However, he understands well that he cannot die especially without properly mourning his father (Gorman, 2011). This urge to mourn his father a little takes the dimension of revenge after the encounter with the ghost of his dead father which rev eals to him the real murderer and charges Hamlet with the duty of revenging the dead King’s death. Through this scene, the audience understands the secret carried in Hamlet’s heart and enlightens the reader on why Hamlet is stunned, shocked and in greater grief than everyone else. The revelation by the Ghost enhances the dilemma for Hamlet to let his villain uncle to be or not to be since the ghost expects him to revenge his poison caused death. The pattern of dissatisfaction in self and delay in avenging his father’s murder is evident in Hamlet’s soliloquies. In Act 2 scene 2, Hamlet dilemma of avenging or not avenging his father’s death by killing his uncle is made known to the audience. Hamlet reveals to the audience his dissatisfaction in himself for his continued failure to revenge his father’s murder. He scolds himself â€Å"Dull and muddy-metalled rascal?† for having done nothing to revenge the death of his father. The

Mixed Feelings - Feminism, Mass Culture, and Victorian Sensationalism Essay

Mixed Feelings - Feminism, Mass Culture, and Victorian Sensationalism - Essay Example In exploring the politics of sensationalism and affect, I presume that the process of naming and assigning social and cultural meanings to bodily responses, such as "sensations," has a history. My project is thus part of the larger enterprise of producing a history of the body and of physiological experiences such as affect and sexuality. Recent scholarship in this area has been profoundly revisionist because it has provided histories of phenomena that had previously been considered natural or outside the work of culture. The importance of Foucault's work on the history of sexuality, for example, resides not just in its specific details, but in its claim that sexuality has a history and is not a natural or prediscursive entity. 1 Tracing the cultural construction of the body or sexuality has revealed how ideologies are naturalized by the often invisible work of attaching meanings to physical processes. I have studied the sensation novel and the politics of sensation in order to parti cipate in this broader project of exploring the political consequences of constructing the body, sexuality, and affect as "natural." Thus, I am less interested in offering a descriptive history of the sensation novel than in considering how a discourse about the "sensational" or affective serves as a vehicle for the promulgation of ideologies of gender and mass culture. And I have found in Victorian criticism of the sensation novel an opportunity to examine how and why "sensationalism" acquired its new meaning and a bad reputation. What I have uncovered points to a more general theory of the politics of sensationalism.

The Fall of Jerusalem 70 A.D Research Paper Example | Topics and Well Written Essays - 1500 words

The Fall of Jerusalem 70 A.D - Research Paper Example Not only did the event affect the then socio-economic context but also had a significant impact on the religious situation of the period. The catastrophe took place as a consequence of the First Jewish-Roman War under the leadership of Titus and his subordinate Tiberius Julius Alexander (North, â€Å"Did Jesus Return In 70 A. D.?†). The disaster resulted in the destruction of Jerusalem causing innumerous deaths and the demolition of its popular First as well as Second Temples. The demolitions of both these temples are still mourned by Jews every year on Tisha B’Av (Young, â€Å"Oh Jerusalem, Thou that Killeth the Prophets†). The study intends to discuss the fall of Jerusalem in 70 A.D. In connection to this, it will emphasize the reasons behind the destruction by examining the scenario of Jerusalem during the occurrence of the First Jewish-Roman War. ... In the 70 A.D., repeated conflicts were being witnessed within the Roman Empire based on ethnic rivalry or political power agreements. The fall can be further identified to be the aftermath of chronological occurrences of disagreements taking place between the Jewish people and the Romans that took place because of the reluctance of the former to follow the emperor’s rules, which later took the shape of religious disbelief and segregation amid the then biblical audiences. Charged by the continuous rebellion against the Roman rule, the Roman army was preparing for an attack on the Jewish city since 66 A.D. following the death of Herod Agrippa I. In due course, the 30,000 Roman troops were able to beat the city walls of Jerusalem in 70 A.D. under the leadership of Titus, which led to the death of numerous Jewish civilians, and thus the First Jewish-Roman war was instigated. This sudden attack resulted in massive destruction where the temples of the city were annihilated, fuellin g up the grievances of the Jewish people against the Romans (Bell, â€Å"The Destruction of Jerusalem: A Local Event or of Universal/Eternal Consequence?†). After 40 years, as predicted by Jesus Christ, the wonderful ‘Herod Temple’ was completely demolished by the Romans. Titus, the campaign leader, has also been accused in many religious writings of having collected the precious treasury of Jerusalem temple and taken it to Rome, where it is still believed to remain safe. When the temple was engulfed by fire, the Roman soldiers hammered its walls in search of treasure, which again disregarded the religious belief of the Jewish people, causing a spiritual crisis within the city. Different vessels as well as treasures were robbed and were taken to Rome.

Evidence from International Stock Markets

Evidence from International Stock Markets Portfolio Selection with Four Moments: Evidence from International Stock Markets Despite the international diversification suggested by several researchers (e.g. Grulbel, 1968; Levy and Sarnat, 1970; Solnik, 1974) and the increased integration of capital markets, the home bias has not decreased (Thomas et. al., 2004 and Coeurdacier and Rey, 2013) and there is no complete explanation of this puzzle. Furthermore, there are the fastgrowing concerns of investor for extreme risks[1] and the investors preference toward odd moments (e.g. mean and skewness) and an aversion toward even moments (e.g. variance and kurtosis) considered by numerous studies (e.g. Levy, 1969; Arditti, 1967 and 1971; Jurczenko and Maillet, 2006). According to these reasons, this paper propose to investigate whether the incorporation of investor preferences in the higher moments into the international asset allocation problem can help explain the home bias puzzle. The study will allow investor preferences to depend not only the first two moments (i.e. mean and variance) but also on the higher moments, such as skewness and kurtosis, by using the polynomial goal programming (PGP) approach and then generate the three-dimensional efficient frontier. The main objective of the proposed study is to investigate whether the incorporation of skewness and kurtosis into the international stock portfolio selection causes these issues: The changes in the construction of optimal portfolios, the patterns of relationships between moments, and the less diversification compared to the mean-variance model. Since several researchers (e.g. Grulbel, 1968; Levy and Sarnat, 1970; Solnik, 1974) suggest that investment in a portfolio of equities across foreign markets provide great diversification opportunities, then investors should rebalance there portfolio away from domestic toward foreign equities. However, US investors continue to hold equity portfolios that are largely dominated by domestic assets. Thomas et. al. (2004) reported that by the end of 2003 US investors held only 14 percent of their equity portfolios in foreign stocks. Furthermore, Coeurdacier and Rey (2013) also reported that in 2007, US investors hold more than 80 percent of domestic equities. Many explanations have been recommended in the literature to explain this home bias puzzle include direct barriers such as capital controls and transaction costs (e.g. Stulz, 1981; Black, 1990; Chaieb and Errunza, 2007), and indirect barriers such as information costs and higher estimation uncertainty for foreign than domestic equities (e.g. Brennan and Cao, 1997; Guidolin, 2005; Ahearne et. al., 2004). Nevertheless, several studies (e.g. Karolyi and Stulz, 1996; Lewis, 1999) suggests that these explanations are weakened since the direct costs to international investment have come down significantly overtime and the financial globalization by electronic trading increases exchanges of information and decreases uncertainty across markets. Since the modern portfolio theory of Markowitz (1952) indicates how risk-averse investors can construct optimal portfolios based upon mean-variance trade-off, there are numerous studies on portfolio selection in the framework of the first two moments of the return distributions. However, as many researchers (e.g., Kendall and Hill, 1953; Mandelbrot, 1963a and 1963b; Fama, 1965) discovered that the presence of significant skewness and excess kurtosis in asset return distributions, there is a great concern that highermoments than the variance should be accounted in portfolio selection. The motivation for the generalization to higher moments arises from the theoretical work of Levy (1969) provided the cubic utility function depending on the first three moments. Later, the empirical works of Arditti (1967 and 1971) documented the investors preference for positive skewness and aversion negative skewness in return distributions of individual stocks and mutual funds, respectively. Even Markowitz (1959) himself also supports this aspect by suggesting that a mean-semi-variance trade-off [2], which gives priority to avoiding downside risk, would be superior to the original mean-variance approach. While the importance of the first three moments was recognized, there were some arguments on the incorporation of higher moments than the third into the analysis. First, Arditti (1967) suggested that most of the information about any probability distribution is contained in its first three moments. Later, Levy (1969) argued that even the higher moments are approximately functions of the first moments, but not that they are small in magnitude. Several authors (Levy, 1969; Samuelson, 1970; Rubinstein, 1973) also recommend that in general the higher moments than the variance cannot be neglected, except when at least one of the following conditions must be true: All the higher moments beyond the first are zero. The derivatives of utility function are zero for the higher moments beyond the second. The distributions of asset returns are normal or the utility functions are quadratic. However, ample evidence (e.g., Kendall and Hill, 1953; Mandelbrot, 1963a and 1963b; Fama, 1965) presented not only the higher moments beyond the first and their derivatives of the utility function are not zero, but also the asset returns are not normally distributed. Furthermore, several researchers (Tobin, 1958; Pratt, 1964; Samuelson, 1970; Levy and Sarnat, 1972) indicate that the assumption of quadratic utility function is appropriate only when return distributions are compact. Therefore, the higher moments of return distributions, such as skewness, are relevant to the investors decision on portfolio selection and cannot be ignored. In the field of portfolio theory with higher moments, Samuelson (1970) was the first author who recommends the importance of higher moments than the second for portfolio analysis. He shows that when the investment decision restrict to the finite time horizon, the use of mean-variance analysis becomes insufficient and the higher moments than the variance become more relevant in portfolio selection. Therefore, he developed three-moment model based on the cubic utility function which expressed by Levy (1969)3. Following Samuelson (1970), number of studies (e.g. Jean, 1971, 1972 and 1973; Ingersoll, 1975; and Schweser, 1978) explained the importance of skewness in security returns, derived the risk premium as functions of the first three moments, and generated the three-dimensional efficient frontier with a risk-free asset. Later, Diacogiannis (1994) proposed the multi-moment portfolio optimization programme by minimizing variance at any given level of expected return and skewness. Consequently, Athayde and Flores (1997) developed portfolio theory taking the higher moments than the variance into consideration in a utility maximizing context. The expressions in this paper greatly simplified the numerical solutions of the multi-moment portfolio optimal asset allocation problems4. 23 Levy (1969) defines the cubic utility function as U(x) which has the form: U(x) = ax + bx + cx , where x is a random variable and a,b,c are coefficients. This function is concave in a certain range but convex in another. Jurczenko, E. and Maillet, B. (2006) Multi-Moment Asset Allocation and Pricing Models, Wiley Finance, p. xxii. Different approaches have been developed to incorporate the individual preferences for higher-order moments into portfolio optimization. These approaches can be divided into two main groups, the primal and dual approaches. The dual approach starts from a specification of the higher-moment utility function by using the Taylors series expansion to link between the utility function and the moments of the return distribution. Then, the dual approaches will determine the optimal portfolio via its parameters reflecting preferences for the moments of asset return distribution. Harvey et. al. (2004) uses this approach to construct the set of the three-moment efficient frontier by using two sets of returns[3]. The results show that as the investors preference in skewness increases, there are sudden change points in the expected utility that lead to dramatically modifications in the allocation of the optimal portfolio. Jondeau and Rockinger (2003 and 2006) and Guidolin and Timmermann (2008) extend the dual approach in portfolio selection from three- to four-moment framework. A shortcoming of this dual approach is that the Taylor series expansion may converge to the expected utility under restrictive conditions. That is for some utility functions (e.g. the exponential function), the expansion converges for all possible levels of return, whereas for some types of utility function (e.g. the logarithm-power function), the convergence of Taylor series expansion to the expected utility is ensured only over a restricted range6. Furthermore, since Taylor series expansion have an infinite number of terms, then using a finite number of terms creates the truncation error. To circumvent these problems, the primal approach parameters that used to weight the moment deviations are not relate precisely to the utility function. Tayi and Leonard (1988) introduced the Polynomial Goal Programming (PGP), which is a primal approach to solve the goal in portfolio optimization by trade-off between competing and conflicting objectives. Later, Lai (1991) is the first researcher who proposed this method to solve the multiple objectives determining the set of the mean-variance-skewness efficient portfolios. He illustrated the three-moment portfolio selection with three objectives, which are maximizing both the expected return and the skewness, and minimizing the variance of asset returns. Follows Lai (1991) who uses a sample of five stocks and a risk-free asset, Chunhachinda et. al. (1997) and Prakash et. al. (2003) examines three-moment portfolio selection by using international stock indices. Regarding the under-diversification, many studies (e.g. Simkowitz and Beedles, 1978; Mitton and Vorkink, 2004; and Briec et. al., 2007) suggested that incorporation of the higher moments in the investors objective functions can explain portfolio under-diversification. Home bias puzzle is one of the under-diversification. It is a tendency to invest in a large proportion in domestic securities, even there are potential gains from diversification of investment portfolios across national markets. Guidolin and Timmermann (2008)[4] indicate that home bias in US can be explained by incorporate the higher moments (i.e. skewness and kurtosis) with distinct bull and bear regimes in the investors objective functions. Several researchers use the primal and the dual approaches to examine the  international portfolio selection. Jondeau and Rockinger (2003 and 2006) and Guidolin and Timmermann (2008) applied the dual approaches using a higher-order Taylor expansion of the utility function. They provide the empirical evidence that under large departure from normality of the return distribution, the higher-moment optimization is more efficient than the mean-variance framework. Chunhachinda et. al. (1997) and Prakash (2003) applied the Polynomial Goal Programming (PGP), which is a primal approach, to determine the optimal portfolios of international stock indices. Their results indicated that the incorporation of skewness into the portfolio selection problem causes a major change in the allocation of the optimal portfolio and the trade-off between expected return and skewness of the efficient portfolio. Appendix 1 presents methodology and data of the previous papers that study international portfolio selection with higher moments. In the proposed study, I will extend PGP approach to the mean-variance-skewnesskurtosis framework and investigate the international asset allocation problem that whether the incorporation of investor preferences in the higher moments of stock return distributions returns can help explain the home bias puzzle. Since previous research (e.g. Levy, 1972; Singleton and Wingerder, 1986) points out that the estimated values of the moments of the asset return distribution sensitive to the choices of an investment horizon, I will examine daily, weekly, and monthly data sets in the study[5]. The sample data will consist of daily, weekly, and monthly rates of return of five international indices for all available data from January 1975 to December 2016. These five indices cover the stock markets in the main geographical areas, namely the United States, the United Kingdom, Japan, the Pacific region (excluding Japan), and Europe (excluding United Kingdom)[6]. Moreover, the study also use three-month US Treasury bill rates as the existence of the risk-free asset in order that the investor is not restricted to invest only in risky assets. The data source of these indices is the Morgan Stanley Capital International Index (MSCI) who reports these international price indices as converted into US dollar at the spot foreign exchange rate. The MSCI stock price indices and T-bill rates are available in Datastream. The methodology proposed in the study consists of two parts. First, the rate of return distribution of each international index will be tested for normality by using the Shapiro-Wilk test. Then, the PGP approach will be utilized to determine the optimal portfolio in the fourmoment framework. 4.1 Testing for normality of return distribution At the beginning of the empirical work, I will test the normality of return distributions of international stock indices and the US T-bill rates. This test provides the foundation for examine the portfolio selection problem in the mean-variance-skewness-kurtosis framework. Although several methods are developed, there is an ample evidence that the ShapiroWilk is the best choice for evaluating normality of data under various specifications of the probability distribution. Shapiro et. al. (1968) provide an empirical sampling study of the sensitivities of nine normality-testing procedures and concluded that among those procedures, the Shapiro-Wilk statistic is a generally superior measure of non-normality. More recently, Razali and Wah (2011) compared the power of four statistical tests of normality via Monte Carlo simulation of sample data generated from various alternation distributions. Their results support that Shapiro-Wilk test is the most powerful normality test for all types of the distributions and sample sizes. The Shapiro-Wilk statistic is defined as where is the i th order statistic (rate of returns), à ¢Ã¢â‚¬ ¹Ã‚ ¯ . à ¢Ã¢â‚¬ ¹Ã‚ ¯ / is the sample mean, are the expected values of the order statistics of independent and identically distributed random variables sampled from the standard normal, and V is the covariance matrix of those order statistics. Note that the values of are provided in Shapiro-Wilk (1965) table based on the order i. The Shapiro-Wilk tests the null hypothesis of normality: H0: The population is normally distributed. H1: The population is not normally distributed.    If the p-value is less than the significant level (i.e. 1%, 5%, or 10%), then the null hypothesis of normal distribution is rejected. Thus, there is statistical evidence that the sample return distribution does not came from a normally distributed population. On the other hand, if the p-value is greater than the chosen alpha level, then the null hypothesis that the return distribution came from a normally distributed population cannot be rejected. 4.2 Solving for the multi-objective portfolio problem Following Lai (1991) and Chunhachinda et. al. (1997), the multi-objective portfolio selection with higher momentscan be examined based on the following assumptions: Investors are risk-averse individuals who maximize the expected utility of their end-ofperiod wealth. There are n + 1 assets and the (n + 1)th asset is the risk-free asset. All assets are marketable, perfectly divisible, and have limited liability. The borrowing and lending rates are equal to the rate of return r on the risk-free asset. The capital market is perfect, there are no taxes and transaction costs. Unlimited short sales of all assets with full use of the proceeds are allowed. The mean, variance, skewness, and kurtosis of the rate of return on asset are assumed to exist for all risky assets for 1,2, à ¢Ã¢â€š ¬Ã‚ ¦ . Then, I define the variables in the analysis as = ,, à ¢Ã¢â€š ¬Ã‚ ¦ , be the transpose of portfolio component , where is the percentage of wealth invested in the th risky asset, = ,, à ¢Ã¢â€š ¬Ã‚ ¦ , be the transpose of whose mean denoted by , = the rate of return on the th risky asset, = the rate of return on the risk-free asset, = a (n x 1) vector of expected excess rates of return, = the expectation operator, = the (n x 1) vector of ones, = the variance-covariance (n x n) matrix of , = the skewness-coskewness (n x n2) matrix of ,= the kurtosis-cokurtosis (n x n3) matrix of . Then, the mean, the variance, the skewness, and the kurtosis of the portfolio returns can be defined as:[7] , , à ¢Ã…  -,[8] Kurtosis = = à ¢Ã…  - à ¢Ã…  - . Note that because of certain symmetries, only ((n+1)*n)/2 elements of the skewnesscoskewness matrix and ((n+2)*(n+1)*n)/6 elements of the kurtosis-cokurtosis matrix must be computed. The components of the variance-covariance matrix, the skewness-coskewness matrix, and the kurtosis-cokurtosis matrix can be computed as follows: à ¢Ã‹â€ Ã¢â‚¬Ëœ, à ¢Ã‹â€ Ã¢â‚¬Ëœ, à ¢Ã‹â€ Ã¢â‚¬Ëœ, à ¢Ã‹â€ Ã¢â‚¬Ëœ, à ¢Ã‹â€ Ã¢â‚¬Ëœ, à ¢Ã‹â€ Ã¢â‚¬Ëœ. Therefore, the optimal solution is to select a portfolio component . The portfolio selection can be determined by solving the following multiple objectives, which are maximizing the expected return and the skewness while minimizing the variance and the kurtosis: , , à ¢Ã…  -, = à ¢Ã…  - à ¢Ã…  - . subject to 1. Since the percentage invested in each asset is the main concern of the portfolio decision, Lai (1991) suggests that the portfolio choice can be rescaled and restricted on the unit variance space (i.e. | 1 ). Under the condition of unit variance, the portfolio selection problem with skewness and kurtosis (P1) can be formulated as follows: , à ¢Ã…  -, (P1) = à ¢Ã…  - à ¢Ã…  - , subject to 1 , 1 . Usually, the solution of the problem (P1) does not satisfy three objectives (, , ) simultaneously. As a result, the above multi-objective problem (P1) involves a two-step procedure. First, a set of non-dominated solutions independent of investors preferences is developed. Then, the next step can be accomplished by incorporating investors preferences for objectives into the construction of a polynomial goal programming (PGP). Consequently, portfolio selection by satisfying the multiple objectives that is the solution of PGP can be achieved. In PGP the objective function ( ) does not contain a portfolio component , it contains deviational variables ( , , ) which represent deviations between goals and what can be achieved, given a set of constrains. Therefore, the objective function ( ) is minimization of the deviation variables ( , , ) to determine the portfolio component . Moreover, if the goals are at the same priority level, the deviations from the goals ( , , ) are non-negative variables. Given an investors preferences among mean, skewness, and kurtosis ( , , ), a PGP model can be expressed as: . subject to à ¢Ã‹â€ - , à ¢Ã…  -à ¢Ã‹â€ - , (P2) à ¢Ã…  - à ¢Ã…  - = à ¢Ã‹â€ - , 1 , 1 , ,, 0 . where à ¢Ã‹â€ - = the extreme value of objective when they are optimized individually, then à ¢Ã‹â€ - |1 , à ¢Ã‹â€ - |1 , and à ¢Ã‹â€ - |1 , = the non-negative variables which represent the deviation of and à ¢Ã‹â€ -, = the non-negative parameters representing the investors subjective degree of preferences between objectives, The combinations of represent different preferences of the mean, the skewness, and the kurtosis of a portfolio return. For example, the higher , the more important the mean (skewness or kurtosis) of the portfolio return is to the investor. Thus, the efficient portfolios are the solutions of problem (P2) for various combinations of preferences . The expected results provided in this section refer to two parts of methodology, the normality test and the international portfolio optimization in four-moment framework. 5.1 The expected results of the normality test Many researches examine the international stock indices and found that most of the stock return distributions exhibit skewness and their excess kurtosis are far from zero. For instance, in the work of Chunhachinda et. al. (1997), the Shapiro-Wilk statistics indicate 5 markets and 11 markets reject the null hypothesis of normal distribution at ten percent significant level, for weekly and monthly data, respectively. Prakash et. al. (2003) use the Jarque-Bera test to trial the normality of each international stock index, their results indicate that for 17 markets for weekly returns and 10 markets for monthly returns reject the null hypothesis of normal distribution five percent significant level. Therefore, I expected that the Shapiro-Wilk tests in the proposed study will be significant and reject the null hypothesis of normality. In other words, the return distributions of international stock markets during the period under study are expected to be non-normal. 5.2 The expected results of the multi-objective portfolio selection 5.2.1 The changes in the allocation of optimal portfolios Chunhachinda et. al. (1997) and Prakash et. al. (2003) both indicated that the incorporation of skewness into the portfolio selection problem causes a major change in the allocation of the optimal portfolio. However, their definitions of a major change are different. Chunhachinda et. al. (1997) found that there is a modification in the allocation when they compare between the mean-variance and the mean-variance-skewness efficient portfolios. However, both types of portfolios are dominated by the investment components of only four markets[9]. On the other hand, Prakash (2003) results show that the structural weights of the mean-variance and the mean-variance-skewness optimal portfolios are dominated by different markets. Therefore, I expected that when I compare between of the mean-variance efficient portfolios, the three-moment efficient portfolios, and the mean-variance efficient portfolios, the percentage invested in each asset will be different in magnitude and ranking. 5.2.2 The trade-off between expected return and skewness Most of the studies of international portfolio selection with higher moments (e.g. Chunhachinda et. al., 1997; Prakash et. al., 2003; Jondeau and Rockinger, 2003 and 2006) reported that the mean-variance efficient portfolios have the higher expected return while the three-moment efficient portfolios have greater skewness. Thus, they indicated that after incorporation of skewness into portfolio selection problem, the investor will trade the expected return of the portfolio for the skewness. More recently, Davies et. al. (2005) applied PGP to determine the set of the four-moment efficient funds of hedge funds and found not only the trade-off between the mean and the skewness, but also the trade-off between the variance and the kurtosis. Thus, I expected to discover the trade-off between the expected return and the skewness and the trade-off between the variance and the kurtosis. In addition, I will also investigate other relationships between the moments of return distribution and report them in both numerical and graphical ways. 5.2.3 The less diversification compared to the mean-variance model. To investigate whether the incorporation of higher moments than the second (i.e. skewness and kurtosis) can help explain the home bias puzzle, I will examine the hypothesis: H0: ZMV à ¢Ã¢â‚¬ °Ã‚ ¤ ZMVSK. H1: ZMV > ZMVSK. where ZMV and ZMVSK are the number of nonzero weights of the mean-variance efficient portfolios and the four-moment efficient portfolios, respectively. If the number of nonzero weights of the mean-variance efficient portfolios (ZMV) is greater than the number of nonzero weights of the four-moment efficient portfolios (ZMVSK), then I will rejected the null hypothesis. This implies that the incorporation of the higher moments into the portfolio decision can help explain the home bias puzzle. However, the results from the literature are mixed. On one hand, several researchers (e.g. Prakash et. al., 2003; Briec et. al., 2007; Guidolin and Timmermann, 2008) provided the evidence that the incorporation of skewness into the portfolio selection causes the less diversification in the efficient portfolio. On the other hand, the results of some studies (e.g. Chunhachinda et. al., 1997; Jondeau and Rockinger, 2003 and 2006) found that when compare with the mean-variance efficient portfolios, the diversification of the higher-moment efficient portfolios seem to be same or even became more diversify. I expected the results to show that the four-moment efficient portfolio is less diversified than the mean-variance one. In other words, the incorporation of the skewness and the kurtosis into the international portfolio selection can help explain the home bias. [1] Jurczenko, E. and Maillet, B. (2006) Multi-Moment Asset Allocation and Pricing Models, Wiley Finance, p. xxii. [2] Semi-variance is a measure of the dispersion of all observations that fall below the average or target value of a data set. [3] The first set consists of four stocks and the second set consists of four equity indices, two commodities, and a risk-free asset. 6 Jurczenko, E. Maillet, B., and Merlin, P. (2006) Multi-Moment Asset Allocation and Pricing Models, Wiley Finance, p. 52. [4] Guidolin and Timmermann (2008) analyze the portfolio selection problem by using the dual approach. [5] Chunhachinda et. al. (1997) and Prakash et. al. (2003) studied the portfolio selection across national stock markets by using two data sets, weekly and monthly data. [6] Guidolin and Timmermann (2008) reported that these markets represent roughly 97% of the world equity market capitalization. [7] I use the derivations of skewness and kurtosis as provided in the textbook Multi-Moment Asset Allocation and Pricing Models of Jurczenko and Maillet (2006) to transform the expectation operators into the matrix terms. [8] Let A be an (nÃÆ'-p) matrix and B an (mÃÆ'-q) matrix. The (mnÃÆ'-pq) matrix Aà ¢Ã…  -B is called the of matrix A and matrix B: [9] The four markets are Hong Kong, Netherlands, Singapore, and Switzerland. These markets have high rankings of the coefficient of variation under the sample period.

Mars :: essays research papers

Mars is the fourth planet from the sun at about 228 million-km (141 million miles) and the last terrestrial planet from the sun. The next five planets in order from the sun are gaseous. Mars follows closely behind Earth but is comparatively smaller, with about half the diameter of Earth and about one-tenth of Earth’s mass. Thus the force of gravity on Mars is about one-third of that on Earth. Though it is much smaller, Mars does have the same surface land area as Earth. Other than Earth, Mars posses the most highly varied and interesting known terrain in our solar system. The surface of Mars is a very hostile place however it is more like Earth’s surface than any other planet in our solar system. Much of the Martian surface is rough and cratered, but expansive flat plains and smooth hills can also be found. Unlike any other planet, there is a striking difference between the northern and southern hemispheres of Mars; one is extremely rough and old while the other is young and relatively smooth. The southern hemisphere is strewn with ancient craters of all sizes and is also elevated by a several kilometers creating a visible boundary. On the opposite end the northern hemisphere consists of a wider variety of geological features, but is obviously smoother and much younger. There are large volcanoes, a great rift valley, and a variety of channels. Volcanism is a geological process that occurs on Earth today, and has on many planetary bodies throughout the history of the solar system. No volcanism is occurring on the surface of Mars today. In the past, however, volcanism was one of the main forces creating and reshaping the surface of the planet. All of the rocks that have been observed by the Viking landers and the Mars Pathfinder Rover are generally agreed to be volcanic in origin. Tharsis is the largest volcanic region on Mars. It is approximately four thousand kilometers across, ten kilometers high, and contains twelve large volcanoes. The largest volcanoes in the Tharsis region are four sheild volcanoes named Ascraeus Mons, Pavonis Mons, Arsia Mons, and Olympus Mons. The Tharsis Montes (Ascraeus, Pavonis, Arsia) are located on the crest of the crustal bulge and their summits are about the same elevation as the summit of Olympus Mons, the largest of the Tharsis volcanoes. While not the largest of the Tharsis volcanoes, Arsis Mons has the largest caldera on Mars, having a diameter of one hundred twenty kilometers!

Building, Tasking, and Empowering Teams

While building a cross functional team, I am interested in analyzing a candidate’s skill level, background, expertise, and previous success dealing with product development. In order to handle a self-managed work team, I would provide relative details for the product’s deadline, dates of launch, and other important facts so the team can work together to develop the proper course of action. As the manager, I would practice the art of self-managing the team from a distance unless there is a conflict of interest.The interest of R&D and marketing may be different from that of the manufacturing and R&D departments. The recent build in SMWT breaks the barriers of the diversity pool, but their findings are still valid to a degree. The increase in intragroup task conflict arises once a diverse group capitalizes their initial tasks of granting credentials or age, tenure, and expertise into the work environment (Jassawalla & Sashittal, 1999, p. 53). For example, Team A and B allo ws open forums for discussion of the project’s progress whereas Teams X and Y have intragroup conflicts (Jassawalla & Sashittal, 1999, 55).A cross functional group can develop the overall tasks to be done because a plan must be assembled before action is taken. The dynamics of a cross functional group depends on their capabilities to complete tasks through a detailed outline associated with the desired outcomes. It is very important to utilize research data to formulate the appropriate answers for potential problems they may experience throughout the project (Metlay & Kaplan, 1995, p. 54).These milestones can help the planning committee in making preventive methods to counter each issue one by one. Many cross functional groups use practical procedures and policies to utilize all of the resources for a good reason. One must recognize the significance of a complete, factual plan because the basis of each project must have data or statistics to back up the departments’ de sired outcomes (Metlay & Kaplan, 1995, p. 56). If a manager restricts employee discussion, there is a possibility that the workers are unsatisfied with the functions of the group.Further reviews analyze the different communications styles available: assertiveness, ingratiation, rationality, exchange, upward appeals, and coalition. The five communication distinctions employ various employee empowerment styles that enable the manager’s workers to voice opinions in subtle ways. The firm’s ability to allow the team to help in the decision-making process evolved the motives of each worker. Some employees prefer the upward appeal method because it deals with flattery of skills and unique talents.Others are interested in the assertiveness of their employees because it shows their ability to adapt or acquire more information regarding their work. Continued efforts should be implemented in the cross functional group’s structure to produce high-quality responses from the team (Jassawalla & Sashittal, 1999, 60). The self-managed work teams allow managers more time to focus on the manager’s vision than on how to instruct team of their role (Metlay & Kaplan, 1995, p. 55).Employees gain a different perspective on the role in which they must play in the cross functional group. On each account, both parties capitalize on their new communication models to push the cross functional group in a more, profound direction. References Cited Jassawalla, A. R. & Sashittal, H. C. (1999, Aug. ). Building collaborative cross-functional new product teams. The Academy of Management Executive, 13(3), p. 50. Metlay, E. F, & Kaplan, etc. , (Metlay & Kaplan, 1995). Self-managing work teams: Do they really work? HR. Human Resource Planning, 18(2), p. 53.

First Flight Associates v. Professional Golf Co

First Flight Associates v. Professional Golf Co Identify the client Based on the facts of the contract between Pro Golf and First Flight Associates (FFA), which was rescinded prematurely, this paper seeks to advise FFA on the legal framework behind the termination. This paper analyzes the case and explores the problem that prompted the parties to seek court’s intervention whereas there were other avenues at disposal to solve the dispute.Advertising We will write a custom case study sample on First Flight Associates v. Professional Golf Co specifically for you for only $16.05 $11/page Learn More Additionally, the paper will explore possible actions that the FFA could undertake to preempt the recurrence of a similar problem in its future dealings. My recommendations will be based on my knowledge of the business law, which has been gained throughout the course. Provide background to problem The case presented in this paper centers on a controversial agreement between Pro Golf and FFA. FFA was accused of the failure to honor its contractual duties. Pro Golf is a multinational company with its headquarters in the United States (US), and it operates under the trademark FIRST FLIGHT. Following the company’s desire to penetrate the global market, it appointed Robert G. Wynn as the sales representative in the Far East countries. Consequently, Wynn formed a company to execute the roles of a sales representative in Japan. The company, which was registered by the name First Flight Associates (FFA), marketed Pro Golf’s products under the trademark, FIRST FLIGHT. This aspect indicates that it was licensed to act as a sales representative of the licensor. The relationship between the two parties was informal since no formal contract was entered between the companies when the license was issued. On the contrary, the two parties formed an implied form of contract substantiated through the letters sent by each party. From the letters, FFA was to pay $2500 annually to Pro Golf as a consideration for the use of the trademark. However, to boost its marketing power, FFA sub-licensed other firms to use the licensor’s trademark among them being Teito Company. Under the new sub-license agreement, Teito was to pay an annual fee of $25,000 to FFA in exchange for the right to use the trademark to market the goods. The agreement between FFA and Teito Company caused disputes as the licensor sought full disclosure of the material facts on which the mentioned contract was founded. Following the failure by FFA to disclose the terms of the contract as required, Pro Golf notified the former of the intention to terminate the contract unconditionally due to failure to observe the contractual duties by the plaintiff.Advertising Looking for case study on business corporate law? Let's see if we can help you! Get your first paper with 15% OFF Learn More The problem The termination of the contract without an agreement being reached between the two p arties as to how to execute the termination process formed the basis of the controversy. FFA allowed Teito Company to use Pro Golf’s trademark. Additionally, it did not disclose the terms of the engagement to the licensor even when required to do so. The reluctance by FFA to disclose the terms of engagement between it and Teito prompted Pro Golf to revoke the contract that it had made previously with FFA. The agreement was silent as to the reasons that could lead to termination. Therefore, the involved parties could not agree on the legality of such termination. In addition to the termination of the decree, Pro Golf declined to pay the commissions earned by the plaintiff arguing that the company’s customs allowed payment of such fees upon delivery of goods to customers. FFA approached the courts requiring the defendant to be compelled to pay all the money earned prior to the termination of the contract. Pro Golf opposed the FFA’s claims for commission saying tha t the licensee failed to observe its contractual duties, thus giving the right to rescind the contract. Expressly indicate termination causes According to Schaffer, Agusti, Dhooge, and Earle (2011), under the common law, a legally binding contract can only be terminated under the following circumstances Agreement by the parties Failure by one party to observe a material contractual duty The occurrence of the specified event Lapse of time Full execution of each parties contractual duties However, for a contract to be terminated due to the occurrence of a certain event, the anticipated issue must be specified clearly in the contract. Express indication of the events that may cause termination of a contract is important since it averts conflicts that may emerge from wrongful rescission of a contract by either party before maturity. Additionally, such indication eliminates uncertainties that may present regarding premature termination of a contract by one party. The occurrence of the stated event leads to automatic termination of a contract without having to approach the courts to question the legality of a decision by one party to terminate a contract. FFA should ensure that its future agreements highlight the conditions in which a contract may be terminated prematurely to avoid the recurrence of a problem similar to the one described in this case. The contract between Pro Golf and FFA did not highlight expressly the events that could prompt impulsive termination of the licensing contract, and thus the parties had to approach the courts for legal assistance.Advertising We will write a custom case study sample on First Flight Associates v. Professional Golf Co specifically for you for only $16.05 $11/page Learn More Advantages Indicating the instances in which a contract may be terminated prevents wrongful termination of a contract by either party. This aspect eliminates confusion and delay in the execution of the contract. Additionally , the occurrence of the stated event leads to the involuntary termination of the contract, thus relieving each party of liability in the contract. This aspect leads to savings in terms of time and resources since the parties do not have to approach the courts to dispute the legality of such termination. Disadvantages The occurrence of the stated event leads to automatic termination of a contract, thus relieving each party of the attached contractual liabilities. In case one party has executed its duties fully, the other party may fail to honor its part of the bargain, thus leading to fresh disputes. Additionally, a contract may be terminated by other causes apart from those stipulated in the agreement, hence creating controversy. Establish formal contracts A formal contract refers to an agreement in which all the involved parties outline the material facts in a written text upon deliberation (Schaffer et al., 2011). Such contracts require extensive consultation between the contracti ng parties to come up with the representations to be included in the agreement. Where necessary, a legal expert is hired to oversee the drafting of the contractual document and ensure compliance with the law. FFA should consider engaging in formal contracts in which all facts are stipulated in the contractual document to avoid the controversy that may present in the course of execution of the contract. In its contract with Pro Golf, the parties did not meet physically to deliberate on the terms of the contract. On the contrary, the parties communicated through letters. The contract was thereby informal, and the conditions of the contract were only traceable from the correspondences. If FFA had engaged in a formal discussion with the defendant, perhaps the two parties would explore and agree on allowing other companies to use the trademark. Therefore, I would advise FFA to negotiate its rights with other parties and document the terms in written texts to avoid the recurrence of the p roblem in its future endeavors. Pros A formal contract has the terms of engagement written and understood by both parties. Therefore, it acts as a proof of the existence of such contract. In case of disputes arising in the course of executing the contract, both parties may refer to the document to resolve the conflict without involving a court of law. Moreover, a formal agreement minimizes the chances of disputes emerging from misunderstandings since the terms of the contract are made clear right from the outset.Advertising Looking for case study on business corporate law? Let's see if we can help you! Get your first paper with 15% OFF Learn More Cons The terms of a contract may be of legal nature, which may require the services of a legal expert to guide the parties through the process. Such services may be expensive, which increases the operating costs. Additionally, the illegality of such terms may invalidate a contract even when a written document exists. Establish a dispute resolution method prior to entering the contract and Indicate the terms of engagement, whether agency or employment.  Most contracts often result in conflicts during execution, which must be resolved in time to avoid procrastinations in the performance of the contract. Therefore, parties to a contract ought to agree on the appropriate methods of resolving disputes without involving a court of law. A clear statement outlining the method to be employed in resolving disputes should be included in the contractual document. In such a case, if a dispute arises prior to the actual period of termination of the contract, it can be resolved promptly. FFA sho uld consider creating a dispute resolution team with its future contracting parties made up of a representative from both sides. The contract should state the fact that the decision by the team is final and that it cannot be contested in a court of law. This move will minimize the chances of misunderstandings coupled with preempting the chances of the parties to seek justice from the courts. In the light of these facts, I would advise FFA to deliberate dispute resolution methods prior to committing to a contact. In the contract between FAA and Pro Golf, no provision was made regarding dispute resolution hence the party resorted to seeking a legal interpretation from the courts. Advantages Providing a dispute resolution method provides a ceiling that limits the parties’ ability to go to the courts in case of disputes. Besides, it ensures that disputes are resolved promptly, thus minimizing the chances of court’s involvement in the resolution processes. Disadvantages Pro viding for a dispute resolution mechanism may limit the ability of a party to approach a court of law in the case of dissatisfaction by the verdict delivered through the stipulated dispute resolution method. Additionally, the resolution mechanism established by the contract may not always fit the different situations arising during the execution of the contract. Moreover, creating a dispute resolution team may require the establishment of a team of experts, which may increase the operating costs of the two parties. The terms of a contract A contract may be terminated on grounds of failure to perform the contractual duties from either party. Each party to a contract is under a legal obligation to act under the provisions of the contract. In case one party fails to act under such provisions, the aggrieved side is entitled to rescind the contract and seek damages for losses coming from the breach (Schaffer et al., 2011). In the case of FAA v. Pro Golf, the defendant accused the plainti ff of failure to observe the contractual duties, hence rescinding the contract. In the light of the mentioned facts, I would advise FAA to engage actively in the formulation of the contractual terms and stick by them during the execution of its mandated duties. This way, the firm will be freed from any liability arising from the failure to execute its duties as specified in the contract. Advantages Adherence to the contractual duties ensures that the contract remains valid, thus eliminating the chances of the other party rescinding the contract. Additionally, it ensures that the desired outcomes are achieved, thus averting disputes that may lead to legal interventions. Disadvantages Adherence to contractual duties may be limited by certain factors such as the impracticability of the obligation or illegality of such tasks. In such cases, the execution of the contractual duties is derailed, and it may prompt the involved parties to seek intervention from the courts of law. Reference S chaffer, R., Agusti, F., Dhooge, L., Earle, B. (2011). International business law and its environment. Boston, MA: Cengage Learning.

Leonardos began when his father moved to Florence Essays

Leonardos began when his father moved to Florence Essays Leo Leonardos began when his father moved to Florence as the procurator of the Convent of St. Martire in 1469. There, Leonardo worked in the legendary workshop of Andrea del Verrocchio. He worked together with Perugino, Botticelli, Ghirlandalo, and Lorenzo di Credi. Leonardo worked with other people on the painting Baptism of Christ. He regestered in the Guild of Florentine Painters and becomes the Guilds debtor in 1472. A year later, he paints a Wide View Over A Plain with a view of the Montalbano towards Valdarno and Valdinievole. It is the first reliable point of reference in the cronological index of Leonardos works. He was charged with homosexuality in 1476 and was released on probation. He continues to work in Verrocchios workshop. Lwonardo creates the first folios of the Condex Atlanticus two years later.In 1480 Leonardo went to work for Lorenzo Magnifico in the garden of S. Marco.

Buddhism1 Essay Example | Topics and Well Written Essays - 250 words

Buddhism1 - Essay Example Thirdly, I was surprised to learn that Buddhism to a certain extent is a rebel religion. I never thought that it is important to engage the analysis of Hinduism which is the dominant spiritual tradition in the area when it comes to understanding the true meaning of the religion in question. The part of the text which dealt with four noble truths as well as eightfold path was extremely informative for me since it contained a brief summary of the Buddhist teaching and allowed me to learn the fundamental concepts of it in a short period of time. Finally, having read the text, I think that there is a great future ahead Buddhism. Indeed, while other religions are primarily based on some miracles and encourage people to look outside for the answers, Buddhism argues that all the answers are inside. I believe that numerous people around the world would find the tenets of this spiritual tradition quite interesting and will be willing to incorporate it into their