Comparing American and Chinese Friendship - 1680 Words

Comparison between American and Chinese Friendship There are many differences between American friendship and Chinese friendship, such as be concerned with other people, talk, and be a guest custom. I want talk about the similarities and differences of Chinese and American friendship .I have three points to support my arguments .The differences include the degree of care about friendship, the method of making friends, and being guest custom. Americans care about each other on friendship and keep distance. If you need help, and then they are happy to help you, but still keep distance from you, they can’t interfere with you ideas and decision. I have an Americans friend just like this. Jessica†¦show more content†¦Ã¤ ¸ ­Ã¦â€"‡ç ®â‚¬Ã¥ â€¢Ã§ ¿ »Ã¨ ¯â€˜Ã¯ ¼Å¡come2china æ˜ ¯Firefoxæ µ Ã¨ §Ë†Ã¥â„¢ ¨Ã§Å¡â€žÃ¦â€° ©Ã¥ ±â€¢Ã¯ ¼Å'Ã¥ ®Æ'èÆ' ½Ã¥ ¸ ®Ã¥Å  ©Ã¤ ½  Ã¤ » ¥httpä » £Ã§ â€ Ã¦Å" Ã¥Å  ¡Ã¥â„¢ ¨Ã§Å¡â€žÃ¦â€" ¹Ã¥ ¼ Ã¯ ¼Å'è ® ¿Ã©â€" ®Ã¨ ® ¾Ã¥Å" ¨Ã¤ ¸ ­Ã¥â€º ½Ã§Å¡â€žÃ§ ½â€˜Ã© ¡ µÃ£â‚¬â€š æˆ ªÃ¥â€º ¾Ã¯ ¼Å¡ Ã¥ · ²Ã§Å¸ ¥Ã©â€" ®Ã© ¢ËœÃ¯ ¼Ë†Ã¨â€¹ ±Ã¦â€"‡ç‰ˆï ¼â€°Ã¯ ¼Å¡ â‘  HTTPS protocol were not supported by the proxy server used. â‘ ¡Sometime certain proxy server might be offline. If connections cannot be made with the addon turned on, try turn theShow MoreRelatedImpact Of The On American Society Essay1120 Words   |  5 Pagesincreased from 1,140 to over 2,500 within a year. 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What kindled the firestorm abutting Chua’s book is her thesis where she asserts that â€Å"Chinese† mothers produce more successful kids because they expect perfection and press the habits that produce results. She mocks the laissez-faireRead MoreHow Does Nationalism Solidify a Country? Essay1239 Words   |  5 PagesIntroduction Nationalism is ubiquitous. It exists in everywhere, like national flags, songs, novels or even in Marvel American Hero film. Before, studying how nationalism solidify a country we must fist identify what is a nation, nationalism and how it affects us. What is a nation? Quoted from J.V. Stalin, â€Å"Nationality ... is not a racial or tribal phenomenon. 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Remeber the Titans Application Paper Free Essays

Remember the Titans is a movie that reflects several areas of organizational behavior. Communication, organizational culture, teamwork, diversity, motivation and ethics all play a key role in leadership how an organization functions. Communication The first obstacle that the new head coach faces is taking over an organization where he is the replacement for a very well respected coach with a reputation for winning. We will write a custom essay sample on Remeber the Titans Application Paper or any similar topic only for you Order Now In one of scenes, Coach Boone sits down with his new assistant coach, Yost, to talk about the current situation. Boone acknowledges the problems and the challenges that lay ahead but assures Coach Yost that he is committed to producing a winning team and that all decisions will reflect performance rather than race. Coach Boone shows respect to Coach Yost and displays the openness to deal with the issues. Leaders may have a tendency to avoid this confrontation only making matters worse for the long term. It is a great lesson in dealing with problems upfront and resolving the issues to minimize more potential conflicts in the future. Communication is one of the basic functions of management in any organization and its importance can hardly be overemphasized. It is a process of transmitting information, ideas, thoughts, opinions, and plans between various parts of an organization. It is not possible to have human relations without communication. However, good and effective communication is required not only for good human relations but also for good and successful business (Thomson, 2007). Organizational Culture From an organizational structure standpoint, Coach Boone realizes he cannot do everything by himself. On a football team, several coaches are required to work with each specialized part of the team just like in any business. Throughout the movie the offense, defense, and special teams must work together to achieve victory on the field. However, each sub group on the team must trust and rely on the others to perform to execute the game plan well. In one of the final scenes, Coach Boone gets input from Coach Yost to come up with a new offensive play to win the game. Sometimes in larger organizations, silos exist among the departments and there is a resistance to cooperating. It is important in any business that all departments listen to their people for new ideas to improve process that can turn into profitable results. Organizational structure is the hierarchical levels of a company; this structure provides guidelines on subordination and employee responsibilities, and affects the workplace culture. An organization’s culture is an informal, collectively held grouping of ideas and values, as well as the types of workplace relationships and ways of doing things within the organization. It affects workplace culture through controlling, coordinating and motivating employees to work together to accomplish company goals and objectives. Both organizational structure and culture affect employee behavior, motivation, performance, dedication, satisfaction, cooperation, and relationships (Thornton, 2011) Teamwork and Diversity Working together as a team is crucial to any organization’s success. Two players in particular believe that at the beginning of merging the two schools, their perceptions of each other’s values make it appear almost impossible to work to together as a team. They both come to realize that they want to win as much as the other person does and eventually become the best of friends. In fact, later in the movie Gary, the white player recommends to Coach Boone that one of his white friends leave the team because of a missed blocking assignment. This is the true transformation of Gary putting the team’s goals before his personal feelings. It is one of the cornerstones of any teamwork’s success. People in any organization bring their own set of values and beliefs to the table when they accept a position in the company. It is up the company’s leadership to instill the vision and culture from the top down. The summer practice camp that they attend is similar to the socialization process that any organization has into bringing new people in. Similar to the Marine’s boot camp, the football players eat, sleep, and practice together to bond and foster a sense of teamwork for Coach Boone. Most companies achieve this socialization process through employee orientation and continuous training. By the end of the camp the players have put aside their difference and are committed to carrying out the team’s goal of winning. The biggest issue that faces the team is the racial tension between the blacks and whites. The movie is set in the early seventies when integration of school began. The socialization process of the summer practice camp helped resolved many of these issues while the players where in seclusion at camp. Upon coming back from camp and attending school, they face the true reality of the racial issues. Still to this day, diversity is a hot topic in corporations across the country. Any company has to battle the preconceived ideas about other races, religions, genders, and sexual orientation to focus on the company’s vision. The movie shows how when people put aside their differences and focus on the organization’s mission that anything is achievable. This is a timeless lesson for any organization in today’s environment. According to the textbook, one of the pervasive challenges with teams is that while diversity may have real potential benefits, a team deeply focuses on commonly held information. To realize their creative potential, diverse teams need to focus not on their similarities but on their differences. The key is for members of diverse teams to communicate what they uniquely know in addition to what they do not know (Judge, Robbins, 2011). Whether in the workplace or on the football field, or even amongst members of a community, effective teamwork can produce incredible results. However, working successfully as a team is not as easy as it may seem. Effective teamwork does not happen automatically; it takes a great deal of hard work and compromise (Woloch, 2008). There are a number of factors that must be in place to cohere together as a team: * Good leadership: Effective leadership is one of the most important components of good teamwork. The team’s leader should possess the skills to create and maintain a positive working environment, motivate, and inspire the team members to take a positive approach to work and be highly committed. An effective team leader will promote a high level of morale and make them feel supported and valued. * Clear communication: Communication is a vital factor of all interpersonal interaction and especially that of a team. Team members must be able to articulate their feelings, express plans and goals, share ideas, and see each other’s viewpoints. Establishing roles: It is necessary for team members to understand their role and responsibilities. The team leader can enable this by defining the purpose in a clear-cut manner in the beginning of the formation of the team. * Conflict Resolution: Conflicts will arise no matter how well a team functions together. The best way to counter conflict is to have structured methods of conflict resolution. Team members should be able to voice their concerns without fear of offending others. Instead of avoiding conflict issues, a hands-on approach that resolves them quickly is much better. Set a good example: The team leader must set a good example for good teamwork to come about. In order to keep team members positive, committed and motivated, the team leader must exhibit these qualities. The team looks to the leader for support and guidance therefore any negativity on the leader’s part can be disastrous (Woloch, 2008). Motivation Coach Boone does a good job of demonstrating motivation throughout the movie. In several scenes, Coach Boone tells his organization that he demands perfection from them and nothing less is acceptable. He communicates clearly with the staff and the players what the team’s goal is from the beginning. Everyone knows their role on their respective teams and expectations. We can see that successful companies have similar success when everyone in the organization knows how their role affects the company’s ability to serve the customer. Coach Boone uses the Equity theory of motivation in that he treats everyone on the team fairly and shows no favoritism. He asks the players to work very hard in practice, but see the results in their victories on the football field. Coach Boone also displays the Hawthorne effect in the movie. He makes an effort to know all of his players and his coaching staff. The Hawthorne effect is a motivation theory that people perform better, when they feel their leader pay attention to them. In today’s work environment, this is more of challenge because it is becoming more popular to have employees work from remote locations or home with the increased technological advances we have seen over the last twenty years in the work place (Ghillyer, 2009). Ethics. Ethical behavior is the last characteristic that can either tear apart any team or propel it to a higher level of success. Coach Yost is under the impression by several influential school board members that the championship game is going to be in favor of the all white school they are playing. They will use this as an excuse to fire Coach Boone and reinstate Coach Yost as the head coach the next school year. During the championship game, Coach Yost faces this internal struggle and dilemma as he sees many unfavorable calls by the referees. He eventually makes the right decision for the player’s chance to win the game. The important lesson is that when temptation is great to make the wrong decision, the long-term benefits of being ethical outweigh the benefits. Managers and their organizations are responding to the problem of unethical behavior in a number of ways. They are writing and distributing codes of ethics to guide employees through ethical dilemmas. They are offering seminars, workshops, and other training programs to try to improve ethical behaviors. They are providing in house advisors and creating protection mechanisms for employees who revel internal unethical practices. Today’s manager must create an ethically healthy climate for his or her employees, where they can do their work productivity with little ambiguity about what right and wrong behaviors are (Judge, Robbins, 2011). In conclusion, the movie demonstrates that leadership must be able to face multiple challenges at the same time. It is hard enough to manage a football team with structure that is in place of three different sub groups performing to win games. When combined with the challenges of diversity and ethics, it remarkable the results the team achieved. These are some valuable lessons that any organization in today’s business world could use. Â   How to cite Remeber the Titans Application Paper, Papers

Ethics for Managers Social Sustainability and Welfare Enhancement

Question: Describe about the Ethics for Managers for Social Sustainability and Welfare Enhancement. Answer: Introduction The study will focus on five important questions, which will conclude summaries the business operations of Walmart. Walmart is one of the leading retail-marketing firms across the world. The study will focus on five important questions, which will conclude about the sustainability of the company, significant ethical issues, the CSR models, which the company follows, key attributes of the stakeholders and the ethics, which the organization supports in the business communication and business practices. (Sustainability of Walmart) The first question of the study will evaluate the sustainability factor of the chosen company Walmart. The general issue will evaluate the primary three factors, of the business viability of the selected organization Walmart, which will mainly focus on employees, society, and the environment. To proceed with this particular question, there are certain factors, which will concentrate on the sustainability of the organization. Sustainability is one of the key factors in different groups. Business exists in a dynamic environment, which is changing very frequently (Aras and Crowther, 2012). It is one of the most challenging jobs for the companies to develop an overall plan of activities based on the nature and objectives of the firm to build a proper sustainable business environment. This particular organization follows some steps in the process of developing appropriate business sustainability in the overall business process. Walmart uses individual business parameters to develop a sustainable business plan. Out of all the key parameters one of the key parameters, which this particular organization follows, is the application of the Sustainability Index. With the use of the sustainability, Index, the company, will be able to compare and contrast the sustainability by developing a measurement, reporting system Walmart focuses more on suppliers, and in the year 2012, Mike Duke, the CEO of the company introduced this particular concept to set improved goals towards increasing the sustainability of the supply chain. The notion of the supply chain management contributes as one of the most significant parts of the overall business operations. It develops the overall outline of the firm administration. There are some new evaluative criteria for the primary sourcing merchants towards encouraging the sustainability of the business and donates $2 million towards funding the sustainability consortium. If these goals are achieved entirely, it will increase the viability of the supplier significantly. However, there are three essential steps, which will define the sustainability index of the company. The first phase includes the development process of a proper sustainability program with a view to creating a more transparent supply chain regarding durability. The second step, which the organization has developed in the proceedings, is forming a consortium. The third and the final step involve the process of conveying this particular information, which will focus on communicating the information to the customers with a view of keeping them updated. One of the key environmental attributes of Walmart is to produce zero waste goals. This particular initiative developed by the Walmart Mexico towards converting 1.2 million pounds of used cooking oil into biodiesel, soap, and supplements for cattle feed as well as composting over 1900 metric tons of organic waste. On the other hand, the company has developed different kinds of recycling methods to maintain the greenery of the environment. The company has been able to keep 80 percent of its overall operational wastes out of the landfills. This is one of the most remarkable initiatives, which this organization has developed for the overall business operations. Being Green is one of the most fruitful and creative measures which this particular company produces in the overall process. The role of employees contributes as one of the most crucial aspects of the business operations (Cabezas and Diwekar 2012). If the employees of the business firms are benefited, it will bring individual positive impact on the overall proceedings of the company operations. Walmart has both lightening news and criticism as far as the employee's concerns. Based on the statistical report of the year 2012, Walmart was the second largest companies with an employee turnover of nearly 2 million. With the view of social conce rn, the organizations mission is to help people save money and leave better. With a combination of all the three major factors, which includes employees, societies and the environment, the contribution made by the organization towards developing a proper business sustainability program is remarkable. (Ethical Consideration of Walmart) The second question of the assignment will focus towards following different kinds of business ethics in the overall business operations of the Walmart. There are certain rules and regulations which various business firms irrespective of the nature of the enterprise need to follow in the business proceedings. This part of the study will ensure towards concluding what are the significant ethical consideration and ethical issues faced by the organization in the region. It will also address the participation of the company to solve it. The growth of this particular organization is remarkable, which began in the year 1962. Based on different kinds of statistical information it has found that the company serves more than 200 million customers daily. There are different classifications of the ethical consideration of the business. Some of the highlighted ethical issues of the company include employees benefits, Walmarts stance on Unions, workplace combination and discrimination, ethical problems in the overall leadership process, Bribery Scandal and safety issues of the companies are some of the vital combination of the ethical considerations of the organizations. Out of all the ethical issues, one of the most important topics is the bribery issues, which took place Mexico in the recent time. An alleged large-scale issue took place in the Mexican arm, Walmex. The report concludes that the company paid millions of pound to obtain licensing and zoning permits for the store location. It was one of the biggest ethical considerations, which the company faces during its expansion process. The selected organization in the assignment operates its business across the major cities of the globe and on the other hand, it faced certain issues in the process of developing a proper expansion plan and procedures (Chobanov, PloÃÅ'ˆhn and Schellhaas 2012). The main reason behind this particular scandal is the approval process of licensing in Mexico takes a certain amount of time as compared with the United States. With a view of speeding up the overall proceedings, the company offered bribery to the officers. The executive covered their tracks with a view of fraudulent reporting methods. However, there are certain safety issues, which the company faced while operating its business in overseas. Nevertheless, one of the most common organizational issues is highlighted in the study is the increase in complexity of the supply chain management (Gond and Moon 2012). If the overall procedures of the supply chain management are hampered, it brings certain organizational issues in the context of the business. All the highlighted issues of the company took place in the past, and Walmart has developed different alternative options to solve all the specific problems. Walmart is one of the leading organizations in the retail sector across the world, and it has been criticized for low wages and benefits to the employees. To solve this particular issue, the company has developed certain pay structures, keeping in mind the interests of the workers. The low pay scale system of the company concluded workplace conditions and discriminations. However, by analyzing all the facts the company has performed an excellent job towards solving all the issues and run the business by following all the ethical considerations of the specified county. (CSR Model of Walmart) CSR contributes as one of the most significant parts of the business proceedings. The answer to this particular question will address the four CSR models of the company, which Walmart followed in the overall business operations. Some of the key factors of this particular question will solve the impact of CSR on small merchants and its effects on communities. CSR practice and theories is an extended model of the corporate government based on the duties owned to all the firms shareholders (Chobanov, PloÃÅ'ˆhn and Schellhaas 2012). Walmart firmly believes in the process of the managing the business process with the view of producing an overall positive impact on the society. However, it is a responsibility towards cooperating an effective procedure towards contributing for the benefits if the society. Nevertheless, Walmart contributes in the process of CSR with the view for a better society and cleaner environment. The answer to this particular question will highlight the CSR model, which Walmart follows in the business operations. There are three important features, which Walmart follows in the CSR models. Sustainability, opportunity and community are the three essential features, which Walmart follows in the proceedings of the business. The company always try to help people with the view of live better extends far better beyond the walls of the stores of different countries. The commitment of the company is to make the real difference by working to create economic opportunity for the enhancement of the sustainability of the operations as well as the system where the organization belongs. Walmart actively keeps in mind the requirements of different individuals who are linked with the groups. Figure 1: CSR Model of Walmart This section of the assignment will highlight the application of Carrolls four-part model of the CSR practices, which Walmart follows in the business proceedings. There are four important attributes, which will conclude about the benefits of using this particular business model with a view of maintaining a proper Corporate Social Responsibility. Philanthropic responsibility, ethical responsibility, Legal Responsibility and Economic Responsibility are the four layers of Carrolls four-part model of CSR policies and practices. It is one of the most significant marketing tools which majority of the business organization irrespective of nature as well as the size of the company follows in the overall business proceedings and operations . The layers of this particular CSR model are classified with the help of certain critical parameters, which are highlighted in the following part of the assignment. Desired by society, expectation of the community, and the requirements of the community are the three essential factors, which are included in this particular tool of CSR models and practices. The first layer of this particular theory involves the effectiveness of the economic components of the society. It is very much important to perform in a manner, which is consistent with the benefits of the society. However, the most important parameters are to maintain an overall competitive advantage in the proceedings of the business operations in the required manner by maintaining a high level of the operational efficiency (Robbins and Coulter, 2012). The second layer of the theory describes the different kinds of legal components, which the Walmart develops, in this particular theory. It is very much significant to perform in a manner by following the ethics established by the government of the country, which includes national legislations. On the other hand, the definition of the successful firm can be defined as the as one that fulfills all the legal obligations in a defined manner. The third level of the pyramid will determine the ethical norms of this particular tool. On the other hand, it is necessary with the view of recognizing and respecting the applications of different kinds of ethics towards developing a proper business proceeding. Some of the most important factors, which will contribute to the legal aspects of the ethical considerations, are to define the level of corporate integrity and ethical behavior, which will cooperate with the legislations of the country. The final point is the application of the philanthropic responsibility, which includes the following factors that need to fulfill in the overall organizational behavior (Aras and Crowther 2012). This particular point needs to be performed in such a manner, which will conclude about the philanthropic as well as with the charitable expectations of the society. There are certain expectations, which the society expects from different organizations that need to be fulfilled. It is very much important that the managers and the employees both participate in various kinds of social activities for the benefits of the society. Figure 2: CSR Model (Carrolls Model) (Key attributes of Walmart basis of the stakeholders) The answer to this particular question will address the different key attributes of the organization, which includes power, legitimacy, and urgency and will highlight about the stakeholder's background. Stakeholders contribute as one of the major parts in the business. There are different definitions, which conclude the meaning of stakeholders. Individuals and groups with a different interest, expectations, and demands about the contribution of the business to the society are known as the notion of the stakeholders in business. However, the three relevant parameters, which need to be considered while determining the effectiveness of the stakeholders, are legitimacy, power, and urgency. The notion of legitimacy will conclude the validity of the stakeholder in the business; power will conclude the ability of the stakeholders to affect the firm's operations (Wheelen and Hunger 2012). The final point is the notion of urgency, which will evaluate the degree of immediate attention of the s takeholder's claim. Every firm irrespective of the nature of the business follows three attributes to incorporate into the company operations. However, the case study in the business relates the stakeholders background of the selected organization Walmart. However, some of the key stakeholders of the different organizations based on the nature of the firm include government, employees, owners, consumers, and society. The further classifications of the stakeholders are classified into two points, which include primary stakeholders and the secondary stakeholders. Walmart follows a combination of both the major stakeholders as well as the secondary stakeholders. The primary stakeholders are those stakeholders of the company who are related directly to the organization's success, which includes the owners, managers, shareholders, and workers. Further, the classifications of the stakeholders are classified into two categories, which include core stakeholders and the strategic stakeholders (Robbins and Coulter, 2012). The core stakeholders are very much essential for the survival of the firm. On the other hand, the notions of the strategic stakeholders are vital for the organization and are required to face its threats and opportunities in t he overall proceedings of the business (Werhane 2012). On the other hand, the ideas of the strategic stakeholders are very much vital for the organization as it concludes the participation of the government, consumers, civil, and the society which are also known as the secondary stakeholders. To determine the proper stakeholders background, Walmart has decided to develop a good competitive advantage. However, some of the most important as well as some of the most common strategies Walmart follow the process of formulating an active as well as a proper background of the stakeholders, which concludes in the process of developing appropriate competitive forces (Collins 2012). To produce a perfect competition, the firm tries to develop a no risk position, which is equal to no risk environment with equal shares in the market and equal shares in the profit. However, in some situation business have to face different kinds of risks, which includes competitive risk, which mainly affects the market size, and profit of the organization. However, to scan both the external environment as well as the internal environment majority of the companies irrespective of the purpose of the business uses the notion of the SWOT Analysis to conclude what are the factors, which will affect both the internal environment as well as the external environment (Coombs and Holladay 2012). The answer to this particular question will be classified into two sections, which includes the market stakeholders and the non-market stakeholders. The notion of the market stakeholders will contribute some of the key features, which includes the stockholders, the Walmart executives, the employees, and members of the community where Walmart is located, consumers, suppliers, NTOs, and non-competitors (Robinson 2012). On the other hand, in the case of non-market stakeholders, there are labor unions and international retail source. Walmart combination of both the stakeholders, Walmart develops its business operations and business plan. (Ethics in business communications and practice of Walmart) This reply to this particular issue will address the communication and business practices of Walmart with suitable examples and will conclude some recommendations for Walmart to be a more ethically sound company in the future. Business ethics is a subject, which varies considerably from one company to another. The importance of the firm communication is to link standards to profit (Gond and Moon 2012). Development of a proper social responsibility is one of the most important parts in the enterprise ethics. However, the one part of the study has highlighted about some of the important issues, which based on principles, which the organization in the past has faced. To resolve those issues, the Walmart has developed different kinds of the organizational plan to evaluate the right step for the right situation. Laws and regulations encourage the businesses to confirm the societys standards and values (Halkias and Thurman 2012). The overall analysis of Walmart in the firm communication and practices by following the right ethics will conclude in four important points, which includes proper accounting, descriptive advertisement, best prices, practices, and much more (Pride, Hughes and Kapoor 2012). Some of the important recommendations, which the company needs to follow, are highlighted in the following part of the study. It will help Walmart to build trust, promote confidence and validates relationships, which will bring certain positive impact on the overall proceedings of the business. However, some of the most important recommendations, which conclude the business process, are policies of the ethics, proper trainings of the ethics, role of the management and considerations. To be more company that is ethical in future; these are the measures, which Walmart need to follow in the business operations. Conclusion The concluding part of the study will focus on all the important factors, which will evaluate the business operations of Walmart. The five question of the study has analyzed all the crucial factors, which the organization has faced in the firm processes. One of the most important points is following a proper ethical consideration in the proceedings of the firm. The CSR model, which is highlighted in the study, will conclude about the applications of Carrolls four-part of the CSR model is highlighted in the study. However, the most significant part, which is emphasized in the study, will focus on the stakeholder's contributions for the organization. Reference List Aras, G. and Crowther, D. (2012).Business strategy and sustainability. Bingley, U.K.: Emerald. Cabezas, H. and Diwekar, U. (2012).Sustainability. Sharjah: Bentham Science Publishers. Chobanov, G., PloÃÅ'ˆhn, J. and Schellhaas, H. (2012).Markets, sustainability and social welfare enhancement in the European Union. Frankfurt am Main: Peter Lang. Collins, D. (2012).Business ethics. Hoboken, N.J.: John Wiley Sons. Coombs, W. and Holladay, S. (2012).Managing corporate social responsibility. Malden, MA: Wiley-Blackwell. Gond, J. and Moon, J. (2012).Corporate social responsibility. London: Routledge. Halkias, D. and Thurman, P. (2012).Entrepreneurship and sustainability. Farnham: Ashgate Publishing Ltd. Pride, W., Hughes, R. and Kapoor, J. (2012).Business. Mason, OH: South-Western Cengage Learning. Robbins, S. and Coulter, M. (2012).Management. Boston: Prentice Hall. Robinson, Z. (2012).Sustainability. Singapore: Marshall Cavendish Editions. Werhane, P. (2012). Globalization and Its Challenges for Business and Business Ethics in the Twenty-first Century.Business and Society Review, 117(3), pp.383-405. Wheelen, T. and Hunger, J. (2012).Strategic management and business policy. Upper Saddle River, N.J.: Pearson Prentice Hall.

The Most Amazing Man in the World free essay sample

â€Å"In family life, love is the oil that eases friction, the cement that binds closer together, and the music that brings harmony.† This quote by Eva Burrows embodies the importance of family in my life. During my childhood many people came and went in my life, but one man impacted my life in several ways. His name was Nathaniel W. and he was a loving, resilient, and tenacious Grandfather; a man who pursued his dreams no matter what adversity he faced. The lessons I learned from his example have helped me battle through many struggles in both my personal life and family life. Baseball has always been one of the most important things in my life. Nevertheless during my junior year of high school I received very little playing time and as a result my self-esteem plummeted. For the first time in my life, I began to think about quitting baseball. We will write a custom essay sample on The Most Amazing Man in the World or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page But in the midst of my despair, my Grandfather’s voice would linger in my head, â€Å"you can’t give up now, it has only just begun.† I remembered the stories my Grandpa once told me. He was a tenacious man in the deadbeat restaurant business, in which people and businesses failed year after year. Although his business failed once or twice, he never gave up and continued to pursue his dreams of being a successful entrepreneur. Keeping my Grandfather’s triumphant story in mind fueled my self-esteem, which gave me the ability to prove myself worthy of a spot on the playing field. With his words branded in my mind, I never gave up and my spot was earned on the team the following year. Off the baseball field, my Grandfather taught me many lessons about the importance of family communication. Everyday he’d call simply to check in or just say ‘hello’, emphasizing the value of keeping in touch with the family. Like my Grandpa, I try to keep the family close by organizing family dinners and presenting ideas for family vacations. As time passes and my siblings move on with their lives at various places around the country, I try to embrace my Grandfather’s family values of love and communication by calling my siblings several times a week. By maintaining his traditions, I feel I am bringing everyone together emotionally as well as physically. Recently, my mother and father experienced relationship difficulties, which ended in a divorce. At that point in my life, I hit rock bottom both physically and mentally. While I saw everyone around me move on with their lives, my life was stagnant, in every aspect including social, sports, and academics. Numerous therapeutic remedies failed, which left me hopeless and weary. Ironically, although he knew nothing about psychology, it was my Grandpa who helped me to heal. The stories he told me of his failures and his resilience in the face of hardship were both therapeutic and inspirational for me. He lost his wife, his business, and fought many medical obstacles, but somehow he always managed to pull himself together and preserve an optimistic outlook. Thus it was my Grandfather’s example that pulled me through the most difficult time of my life. My tenacity, sense of responsibility, and resilience are traits my Grandfather has passed to me. During my most difficult times he assisted me, influencing me in untold ways. With my Grandfather’s guidance, my problems dissipated and troubled times passed quickly. Unfortunately, on October 1st 2008 the great man I speak of passed away. His physical absence is greatly missed but his influence resides in me forever.

Pain essays

Pain essays Vaccine Could Protect Against Stroke And Epilepsy Damage A new oral vaccine has offered new hope because of its effectiveness in protecting laboratory rats against brain damage from epilepsy and stroke, and might one day be used to help humans with the same conditions. The vaccine blocks a protein in the brain called NMDA, but does so only when epilepsy or stroke occur. The vaccine is released in the brain as needed and is protected from any side effects. During and colleagues immunized another group of rats and after five months induced stroke in them by blocking an artery in the brain. The rats still experienced strokes, but the size of the brain damage was 70 percent less in immunized rats compared with animals that didn't receive the treatment. This concept could be useful in treating other neurological disorders as well. NMDA is a receptor that responds to the chemical glutamate in the brain, the glutamate/NMDA complex is responsible for many normal brain functions like the development of neurons, learning and memory. Blocking the NMDA receptor in general could have damaging effects. However, the NMDA receptor is also involved in a chain of events that contribute to neurological damage from epilepsy, stroke and head injuries. To create the vaccine, the researchers added the gene that codes for the NMDA receptor to a virus. When this gene and virus combination enter the animal's bloodstream, the immune system creates antibodies to both the virus and NMDA. These antibodies circulate in the blood, but are prevented from entering the brain by the blood brain barrier, a tightly packed group of cells that line blood vessels in the brain. The blood brain barrier is a protective mechanism that prevents many large molecules, such as these antibodies, from entering the brain. Yet during times of neurological insult, like epilepsy and stroke, the blood brain barrier is compromised, and the antibodies do enter the brain. They then s...

The Marshall Plan

The Marshall Plan Initially announced in 1947, the Marshall Plan was a U.S.-sponsored economic-aid program to help Western European countries recover following World War II. Officially named the European Recovery Program (ERP), it soon became known as the Marshall Plan for its creator, Secretary of State George C. Marshall. The beginnings of the plan were announced on June 5, 1947, during a speech by Marshall at Harvard University, but it wasn’t until April 3, 1948, that it was signed into law.  The Marshall Plan provided an estimated $13 billion in aid to 17 countries over a four-year period. Ultimately, however, the Marshall Plan was replaced by the Mutual Security Plan at the end of 1951. Europe: Immediate Post-War Period The six years of World War II took a heavy toll on Europe, devastating both the landscape and the infrastructure.  Farms and towns were destroyed, industries bombed, and millions of civilians either killed or maimed.  The damage was severe and most countries didn’t have enough resources to help even their own people. The United States, on the other hand, was different.  Because of its location a continent away, the United States was the only country that did not suffer major devastation during the war and thus it was to the U.S. that Europe looked for help. From the end of the war in 1945 until the beginning of the Marshall Plan, the U.S. provided $14 million in loans. Then, when Britain announced that it could not continue to support the battle against communism in Greece and Turkey, the United States stepped in to provide military support to those two countries. This was one of the first actions of containment outlined in the Truman Doctrine. However, recovery in Europe was progressing much slower than initially expected by the world community.  European countries compose a significant segment of the world economy; therefore, it was feared that the slow recovery would have a ripple effect on the international community.   Additionally, U.S. President Harry Truman believed that the best way to contain the spread of communism and restore political stability within Europe was to first stabilize the economies of Western European countries who had not yet succumbed to communist takeover.   Truman tasked George Marshall with developing a plan to carry out this goal. Appointment of George Marshall Secretary of State George C. Marshall was appointed to office by President Truman in January 1947.  Prior to his appointment, Marshall had an illustrious career as the chief of staff of the United States Army during World War II. Because of his stellar reputation during the war, Marshall was viewed as a natural fit for the position of secretary of state during the challenging times that followed.   One of the first challenges Marshall faced in office was a series of discussions with the Soviet Union regarding the economic restoration of Germany.  Marshall could not reach a consensus with the Soviets regarding the best approach and negotiations stalled after six weeks.  As a result of these failed efforts, Marshall elected to proceed with a wider European reconstruction plan. The Creation of the Marshall Plan Marshall called upon two State Department officials, George Kennan and William Clayton, to assist with the construction of the plan.   Kennan was known for his idea of containment, a central component of the Truman Doctrine.  Clayton was a businessman and government official who focused on European economic issues; he helped lend specific economic insight into the plan’s development. The Marshall Plan was crafted to provide specific economic aid to European countries to revitalize their economies by focusing on the creation of modern post-war industries and the expansion of their international trade opportunities.   Additionally, countries used the funds to purchase manufacturing and revitalization supplies from American companies; therefore fueling the American post-war economy in the process.   The initial announcement of the Marshall Plan occurred on June 5, 1947, during a speech Marshall made at Harvard University; however, it did not become official until it was signed into law by Truman ten months later.   The legislation was titled the Economic Cooperation Act and the aid program was called the Economic Recovery Program. Participating Nations Although the Soviet Union was not excluded from participating in the Marshall Plan, the Soviets and their allies were unwilling to meet the terms established by the Plan.  Ultimately, 17 countries would benefit from the Marshall Plan.  They were: AustriaBelgiumDenmarkFranceGreeceIcelandIrelandItaly (including the Trieste region)Luxembourg (administered jointly with Belgium)NetherlandsNorwayPortugalSwedenSwitzerlandTurkeyUnited Kingdom It is estimated that over $13 billion dollars in aid was distributed under the Marshall Plan.  An exact figure is difficult to ascertain because there is some flexibility in what is defined as official aid administered under the plan.  (Some historians include the â€Å"unofficial† aid which began after Marshall’s initial announcement, while others only count aid administered after the legislation was signed in April 1948.) Legacy of the Marshall Plan By 1951, the world was changing. While the economies of Western European countries were becoming relatively stable, the Cold War was emerging as a new world problem. The rising issues related to the Cold War, particularly in the realm of Korea, led the U.S. to rethink the use of their funds.   At the end of 1951, the Marshall Plan was replaced by the Mutual Security Act.  This legislation created the short-lived Mutual Security Agency (MSA), which focused not only on economic recovery but also more concrete military support as well.  As military actions heated up in Asia, the State Department felt that this piece of legislation would better prepare the U.S. and its Allies for active engagement, despite the public mindset that Truman hoped to contain, not combat communism. Today, the Marshall Plan is widely viewed as a success.  The economy of Western Europe rebounded significantly during its administration, which also helped to foster economic stability within the United States. The Marshall Plan also helped the United States prevent the further spread of communism within Western Europe by restoring the economy in that area.   Concepts of the Marshall Plan also laid the foundation for future economic aid programs administered by the United States and some of the economic ideals that exist within the present European Union. George Marshall was awarded the 1953 Nobel Peace Prize for his role in creating the Marshall Plan.

A Problem in the Field of Finance Article Example | Topics and Well Written Essays - 750 words

A Problem in the Field of Finance - Article Example chases an appropriately customized supporting contract from a backer with an underlying result halfway related with the vulnerability in the item showcase. Therefore, ProQuest demonstrates the agreement impact by detailing the transaction transforming both gatherings in the schema of a Stackelberg diversion and value harmony. For each one diversion theoretic setting, we determine the balance result and present the similar statics. We additionally research the case in which the backer lays off her hazard from one agreement by composing an alternate contract with a second firm, and contrast contract execution and a benchmark case in which two organizations exchange specifically as opposed to through the guarantor. However some state that a comparative marvel might be found in an alternate business sector for private safe holdings, the ABCP market. This wonder does not exist, on the other hand, in business sectors for dangerous obligation, for example, the corporate security market. (Xi e, 2013) ProQuest contemplates an inventory network in which a retailer confronts an excellent newsvendor issue with a monetary demand on his ability to request stock. To offer more items, the maker groups up with a bank to offer a premium free credit program. As indicated by late industry reports give or take 80 percent of retailers and suppliers accept that coordinated effort has developed in the previous three years. Regardless of this development, notwithstanding, the practice is not far reaching, and the profits attained are frequently incremental as opposed to transformational practices. Thus, it’s still not unexpected to discover double stock property inside the same system, underused truck armadas, overabundances of quick moving stock mulling in retailer warehouses, and low on-rack accessibility of a few items in particular or say, special things. ProQuest details the association between the retailer and the producer as a Stackelberg amusement in which the maker has the

To what extent has female drinking changed in Britain Essay

To what extent has female drinking changed in Britain - Essay Example One of the most prominent aspects of women’s liberation or emancipation and that of the increased financial independence has been the increased rate of female drinking. In other words, the changes in women’s social status have resulted in female drinking habits being changed. â€Å"Women are now drinking more alcohol than previous generations, with the rate of consumption set to increase. Women’s raised economic and social status has resulted in the liberalization of attitudes towards female drinking. The conversion of bars and pubs from primarily male to unisex areas has meant that it is now more acceptable for women to drink without men. The boundaries between male and consumption patterns are also blurring, with women choosing drinks that were once exclusively male.† (World News: Female Drinking on the Increase). This has been a universal fact that the drinking habit of women is increased tremendously. However, the female drinking in the UK has increase d in an alarming pace that it has been often regarded as one of the most captivating issues related to women in the nation. This has been often remarked that in the UK the increase in female drinking has several consequential effects which make the issue even more relevant for discussion. In this paper, the focus has been on the increasing rate of female drinking and its effects on the society. The fundamental question that the paper is concerned with has been to what extent has female drinking changed in Britain and the results of the investigation conducted have wide ranging implications. Female drinking has changed to a great extent in Britain and there are several conditions that made this possible. More and more women get addicted to alcohol these days due to the modern trends in living and social set up. Sophisticated changes in every field can be traced in an understanding of the reasons that increase female drinking in Britain. In the era of liberalization, where women have got more

Basketball and Favorite Club Essay Example for Free

Basketball and Favorite Club Essay Club My favorite club is the FCCLA (Family, Career and Community Leaders of America). It really is a nice experience to help others and give advice. I like being in a club that is dedicated to helping others. We also go on field trips which are pretty fun. It gives us a chance to have a good time with friends. The FCCLA is hands down my favorite club. When we get to help others it really makes me proud. We took a trip to an elementary school and read to some kids. The kids really enjoyed us coming. We read to them and helped them with arts and craft. We also helped the needy by giving them canned goods. FCCLa gives us a good chance to show our caring side. Field trips are another reason The FCCLa is my favorite club. This year we have a chance to go to King Dominion. I have only been once, and Im really looking forward to going. They give us chances to do fundraising to reduce the price, which really helps us. We also have a chance to go to a basketball game. IVe always wanted to go to an NBA game, but I never had a chance. All these reasons make the FCCLA my favorite club. The fccla helps us grow as a person, unlike some other clubs. Giving us situations to help others and providing for those in need. There is no other club that does that. This makes me proud to be in the FCCLa.

special ed :: essays research papers fc

Page 1 of 3 3803 The Treaty of Versailles. (buy this paper) This eleven-page undergraduate paper discusses the Treaty of Versailles which ended the First World War in terms of the Allies' desire for vengeance, the treaty's punishing territorial provisions, the unrealistic war reparations payments demanded of Germany, and the dire consequences these had upon chances for future peace. 11 pgs. Bibliography lists 5 sources. Filename: 3803 Treaty of Versailles.doc Price: $98.45 3922 The Causes of World War One. (buy this paper) This paper evaluates the causes of the First World War. It shows how scholars have pointed to the forces of nationalism, militarism and imperialism to explain the origins of the conflict. The war was certainly caused by the collision of interests between imperial powers. Overall, the paper reveals that the historiographical debate surrounds the issue of whether it was individual events or underlying forces that caused the war. 6 pgs. Bibliography lists 3 sources. Filename: 3922 World War One.doc Price: $ 53.70 6815 "In viewing the possible impact of the United States towards the War effort "over there", did the United States turn the tide of battle, that is, in all facets, economically, and militarily, did the impact of the United States entry into World War I enable the allies to achieve victory---YES OR NO?" (buy this paper) This is a 6-page paper in MLA style that states that World War I was won on the basis of the entrance of the Americans who through their military and economic help changed the tide of the war. 6 pgs. Bibliography lists 7 sources. Filename: 6815 US War Efforts.doc Price: $53.70 10247 Influence on Public Opinion in World War One. (buy this paper) This 4-pages undergraduate paper examines the role played by intellectuals and of propaganda in the World War I era. 4 pgs. Bibliography list 3 sources. Filename: 10247 Public Opinion War.doc Price: $35.80 2228 The Bombing of Hiroshima and Nagasaki. (buy this paper) This paper looks at the bombing by the Americans on Hiroshima and Nagasaki as an inevitable decision to avoid a long drawn out war with Japan. Essentially, the decision to bomb was the lesser of two evils. 10.5 pgs. 21 f/c. 10b. Filename: 2228 Bombing Hiroshima Nagasaki.doc Price: $89.50 2079 The American Decision to Use a Nuclear Weapon on Hiroshima. (buy this paper) 13 pgs. 17 f/c. 12b. Filename: 2079 American Decision Nuclear.

Farewell Speech Essay

Worthy principle respected teacher and my dear fellow student a.s.a. I am Alizeh Eman from class 9 girls. Today we all have gathered here to bid the matric class of our school our farewell. This academic year is about to come to an end. We all might say that we don’t like school or we want to get out of it as soon as we can but when it all really comes to an end we know we will really miss it.And I bet that all the matric class students understand this perfectly well since its really the end of school for them now. They have really gone through it all and will soon enter their pratical lives. I would like to take this opportunity to sincerely thank the matric class on behalf of my whole class. This batch of the matric class shall never be forgotten. They have really been ideal seniors for us. They have correctedus when we went wrong and have patted out backs on our achievements. They have not only been great seniors but they have also been great students. The have certainly studid as hard as they could and have made their teachers proud and have inspired us to do the same. They have guided not only us but the other juniors as well and have always tried to give in your best to lead us to the right path. Our matric class is now at a very important stage of life. This is where a new life begins for you. It gives great sorrow to do this, but we have to bid you our goodbyes. As you step forward into this new phase of your life, we hope for you to get the very best in life. We hope from God to keep you under his protection and bless you with a great future. We hope you remember us through the years of life Personally, and on the behalf of Class 9, Our teachers and respected principle, I wish you all the best in your says ahead.

Noh Theatre: Japanese Influence in American Theatre

The Japanese although is not a common ethnicity in the United States have their piece of influence in the entire American people. Their delicacies and arts have proliferated in our society as represented in major restaurants and business establishments promoting them. One way of looking at the degree of impact that they have on our community is through the appreciation of American thetare of the Japanese Noh theatre. The admiration to the latter may have led to the adoption of its certain techniques and props by the former. Noh or N?gaku is a major form of classic Japanese musical drama. Noh has been slow and modified for several centuries beginning the   Tang Dynasty. It is interesting to learn that it influenced other dramatic forms such as Kabuki and Butoh. During the Meijing era, it was recognized as one of the three national forms of drama. The unique characteristic of Noh is that Noh actors and musicians never rehearse for performances together. Each actor, musician, and choral chanter practices his or her fundamental movements, songs, and dances independent of each other. A senior director may guide them but again, separately. This gives the interactions of all the performers together greater importance. Noh exemplifies the traditional Japanese aesthetic of transience, called â€Å"ichi-go ichi-e†. The popular costume in Noh includes masks to be worn by the main actor called shite and his companions yet only when they belong to the following categories; old man, woman, youth, and supernatural being. The masks portray sculptural art in Japan and are made of wood. A certain Ernest Fenoilosa, in 1916 had claimed that he was one of the two foreigners who had ever been taught and practiced the techniques of the Japanese Noh theatre. The progression of its popularity might be slow but soon enough, Western scholars and artists have been swayed toward it due to its great grace, precision and discipline, and by its power to evoke the most poignant and the most sublime emotions. A Noh performance seems truly to portray poetry in motion, as well as poetry in repose.[1] Books about Noh and translations of its plays have contributed to its entry into Western theatres. It is probably the ancient art forms that the audience has managed to look forward to in Noh performances. Now there is a group of American professional actors that can say it has also been initiated into the Noh: †¦With the initiative of The Institute for Advanced Studies in the Theatre Arts in New York, in association with the Japan Society, two Noh actors came from Tokyo to the United States. Here, forthe first time in history, they directed non-Japanese actors in a production of Ikkaku Sennin, a classical Noh play. The directors were Sadayo Kita, a sixteenth generation Noh performer from the Kita troupe of the Noh, Tokyo, and his assistant, Akiyo Tomoeda, also of the Kita troupe†¦ (Packard,____) The actors have found it difficult to imitate the movements of the hands and feet of Japanese Noh performers. They found it challenging to preserve the tradition and ritual embedded behind every gesture and act. As Noh is considered the â€Å"immeasurable scripture†; it is a combination of song, dance, poetry, drama and religion, each performance is an act of ultimate control. It represents stoic patience of waiting for long periods of time on stage. As soon as the American actors had completed their basic training in Noh movement, they were given authentic Noh costumes, colorful robes and wigs and masks. A stage was constructed out of white pine, built to the requirements of the Noh theatre but with consideration of the relatively larger built of the Americans. In relation to American theatre arts, Noh is relatively confined to strict movements while the other is free But the American actors claimed they have learned new interpretations and adopted the use of masks. While Noh is selfless, American theatre is egotistic. To use the comment of Packard, one could truly say that this introduction of Noh in American theatre has produced a momentum and historic event, when he said, â€Å"The American theatre, with such a deep need for style and tradition, could acquire a great deal from the discipline and technique of the Japanese Noh theatre†. Works Cited Packard, William. â€Å"An Experiment in Noh.† Sorgenfrei, Carol Fisher. â€Å"The State of Asian Theatre Studies in the American Academy.† Theatre Survey. Vol. 47 No. 2 (2006). www.wikipedia.com       [1] Packard, William. â€Å"An Experiment in Noh.† P. 60.

Compare the style and sentiment expressed in Cider with Rosie and Silas Marner Essay Example

Compare the style and sentiment expressed in Cider with Rosie and Silas Marner Essay Example Compare the style and sentiment expressed in Cider with Rosie and Silas Marner Paper Compare the style and sentiment expressed in Cider with Rosie and Silas Marner Paper Essay Topic: Literature Laurie Lee wrote Cider with Rosie in 1959. As it is an autobiography, it was written in the period it happened, this being 1917 to the late 1920s. It was set in Slad, as this is where he was bought up. This is the more modern of the two books. Silas Marner on the other hand, was written at a much earlier time. It was published in 1861; the middle of the Victorian period, but the story takes place between 1795 and 1825. This book was set at an earlier date than it was written like Cider with Rosie, but for a different reason. The events in Silas Marner could not have happened at the time when the book was actually written. For example, when Silas Marner is wrongly accused of theft, his innocence is decided by the drawing of lots. The lots declared that Silas Marner was guilty. Page 11 If the book had been set at a more recent date when it was evident that the practice was no longer used, for example in George Eliots lifetime, there would be an anachronism. Therefore it was necessary for George Eliot to have set this book at an earlier date than it was written. Cider with Rosie is an autobiography and is therefore written in the first person about something that really happened, although some facts maybe distorted by time. His life is told in a fragmentary way. For example, there is a chapter purely about his mother, and then one on what he remembers about winter and summer. After that, he recalls an incident when he was taken ill and writes a chapter called Sick Boy. There is no real continuation or solid story line. It is written in episodes and so you get an overall outlook on what his life was like. In contrast, Silas Marner is a novel written in the third person and is fictional. The story of Silas Marner unfolds chronologically. There is a definite story line, which gives the book direction. We learn less about the main characters background and past and there are more characters playing substantial roles with deeper, more detailed characters. Cider with Rosie is based around a young boy called Laurie Lee. He is bought up in Slad, a country village, and this is his home unlike Silas, who was forced to move to a village which is not his home at first. He lives in a big family, although the father does not live at home, and is very much accepted as part of the community. This book vividly describes events that happened during Laurie Lees childhood. Cider with Rosie doesnt have a climax or any ironies. There isnt a main climax as the story is so fragmented. There are however, climaxes evident in individual sections of the book. For example, in the chapter Sick Boy the climax is when the Negress thinks that Laurie is dead and prepares him for the coffin. His mother has none of it and goes mad when she finds out from Dorothy. She goes to revive him. Poor boy, hes gone, crooned the Negress. Gone fled to the angels-thought Id wash him for the box-just didnt want to bother you, mum. Page 157 On the contrariety, Silas Marner is about a middle-aged weaver, Silas, who is wrongly accused of a robbery. He is suspended from the church and forced to leave his fiancà ¯Ã‚ ¿Ã‚ ½e and Lantern Yard. He goes to live a new life in a village called Raveloe where for many years he is thought of as an outcast. He no longer has trust in his religion and so doesnt go to the church. There is no God that governs the earth righteously, but a God of lies, that bears witness against the innocent. Page 11 As a way of dealing with his loneliness, he hoards his money and shuts himself off from the community. His money is stolen and he becomes miserable. He becomes a father through an act of kindness and his child brings him back in touch with the community. The story comes to a climax when Dunstans body is found in the drained pit along with Silas stolen money. Godfrey then decides to tell Nancy about Eppie and goes to try and persuade Eppie to live with them. It is ironic when Eppie refuses to live with them and says she sees Silas as her real father, because when it is possible for Godfrey to have Eppie, he disowned her, as he valued his relationship with Nancy more. However, when he couldnt have a child, he desperately wanted one. Cider with Rosie shows how children are so naà ¯Ã‚ ¿Ã‚ ½ve and get upset about the silliest of things but arent really bothered about things that really matter. When reading this book, it is evident that Laurie Lee writes about his life with real passion. He successfully communicates with the reader as we are able to relate to the childs views and it triggers off memories we also have of being a young child. Silas Marner is a fable and so contains many morals. The main point that George Eliot makes during this novel is that love is more important than money. George Eliot has the talent to make us have strong feelings and views towards each characters actions. It has that essential feeling of community and friendship which is seen as the main ingredient to happiness. This is particularly promoted in Dollys character. She is a very warm and lively person and through time, even though she knows nothing about her faith, draws Silas back to religion. Its niver too late to turn over a new leaf; and if youve niver had no church, theres no telling the good itll do you. Page 90 She often gives Silas help in looking after Eppie. You might shut her up once i the coal-hole theres one of em you must choose-ayther smacking or the coal-hole-else shell get so masterful therell be no holding her. Page 139 Dolly is such a simple but vital character. I feel her character is fully established although some may argue that she is a caricature. Eppie is more of a caricature than a character. She is part of the fairy tale within the novel and represents a feeling of happiness. She grows up through an ideal childhood and has a perfect personality. In Cider with Rosie, although other personalities are incorporated into the story, we dont really learn enough about their lives and they dont influence Laurie enough to really be classified as fully established characters. For example, Miss Flynn would be classed as a caricature as she is there to represent a free spirit. She is very unpredictable (she commits suicide for example) and does what she wants and lives life how she wants. She is very supernatural and is not too bothered what other people think of her. Ive been bad, Mrs. Er-for the things I must do. Its my mother again, you know. Ive been trying to keep her sick spirit from me. She dont let me alone at night. Page 100 This is in keeping with the main theme of the book, freedom. In Cider with Rosie I found that regular events were often elaborated and padded out to make the story interesting. This is successful, as Laurie Lee is very good at descriptions. It towered above me and all around me, each blade tattooed with tiger-skins of sunlight. It was knife-edged, dark, and a wicked green, thick as a forest and alive with grasshoppers that chirped and chattered and leapt through the air like monkeys. Page 9 This quote shows Laurie Lees descriptive writing skills and how he has managed to make a normal situation, in this case standing in a field, come alive and attractive to read. It also adds to the whole feeling of romance and naivety. George Eliot also has her way of making the story interesting. She is not quite so descriptive in her writing but instead the plot keeps you interested. The way in which she has inter-woven many different story lines but then in the end she has brought them all to the same conclusion, is very clever. For example, the story line of Silas and the loss of his gold is linked with the story line of Dunstans money problems. This is as Godfrey has a secret wife and child who are only known about by Dunstan who is therefore blackmailing Godfrey into giving him money. He ends up giving Dunstan his horse of which dies, forcing Dunstan to steal Silas gold. The story of Godfreys secret wife and child is linked back with Silas as he ends up bringing up the child, Eppie as his own when the mother, Molly, dies. All of the plots come to a conclusion when Dunstans body is found with Silas stolen money. Godfrey decides to tell Nancy about Eppie and goes to try and persuade her to live with him. Eppie refuses saying that she sees Silas as her real father. Silas remains happy, and Godfrey remains childless. Themes are evident in both books but more so in Silas Marner. In Silas Marner the main themes are money, faith and justice and injustice. Money is the most evident and important theme in the book. Silas was forced to live in Raveloe because money was stolen in Lantern Yard. Then, when he reaches Raveloe, he hoards his money made from weaving. Dunstan and Godfrey are always arguing about money, which leads to the theft of Silas gold. When Eppie appears in his house, he thinks her hair is his gold. Eppie then acts as a replacement of his gold but in a human form. This is what makes the theme of money so important. The fact that the main point made in the book is that love is more important than money. Faith in God and others is also an important part of this book. Silas looses his faith in God and human beings when he was falsely accused. For many years in Raveloe he shuts himself off from the community because of this. After the arrival of Eppie, and the encouragement of Dolly, Silas is slowly drawn back to religion and he regains his trust in the human race. There are themes of injustice and justice running through Silas Marner. For example, there is injustice when Silas is falsely accused of stealing the gold and William Dane is not caught. Also, when Silas has his gold stolen. (This does however, help him in the long run). There is justice when the man who stole Silas money, Dunstan, dies and his brothers daughter ends up being Silas daughter. In Cider with Rosie the main themes are freedom, happiness and youth. Money is not so significant in Cider with Rosie. Although the family is poor, they have always lived on the basis that they will be happy as long as they have people around them that they love. (The lesson taught in Silas Marner). There is a theme of faith in Cider with Rosie like in Silas Marner, but it is not very powerful. The sense of freedom is very evident in Cider with Rosie, which is mainly as the book is written in the eyes of a child. The themes of happiness and youth are the strongest in the book. Laurie is loved very much and lives an almost trouble-free childhood, as the majority of us do. That is what makes the books so appealing-the innocence of it all. Just like in Silas Marner when Silas is forced to leave Lantern Yard, there is injustice in Cider with Rosie. This is when a man who had returned from the war entered the local bar richly dressed and bought everyone drinks. On his return home, he was violently beaten up and robbed. He froze to death in the snow. The criminals were never punished for the crime. The language used in Silas Marner is far denser than in Cider with Rosie. The language in Cider with Rosie is very descriptive. By doing a comparison of the opening paragraphs in each book, I can get an idea of the style in which the books are written. To begin with, the two opening paragraphs were a completely different length. There are about 340 words in the opening paragraph of Silas Marner, whereas there are only 28 words in the opening paragraph to Cider with Rosie. This shows how Cider with Rosie is more concise and to the point than Silas Marner. It makes you want to read on as it makes you curious by giving you clues as to what will happen next. For example, the opening sentence is as follows. I was sat down from the carriers cart at the age of three; and there with a sense of bewilderment and terror my life in the village began. Page 9 This style of writing is continued throughout Cider with Rosie. Silas Marner has far more elongated passages and consists of far more complex ideas. The language used is very dense and takes more concentration to understand. This is the opening sentence of Silas Marner. In the days when the spinning-wheels hummed busily in the farmhouses-and even great ladies, clothed in silk and thread-lace, had their toy spinning-wheels of polished oak-there might be seen in districts far away among the lanes, or deep in the bosom of the hills, certain pallid undersized men, who by the side of the brawny country-folk looked like the remnants of the disinherited race. Page 1 You can tell the immediate different in the style. This sentence is far longer, uses a lot of punctuation and contains many old fashioned words such as thread-lace, bosom and remnants. The style in which the book is written influences the sentiment in both books. I feel that the style of language in which Silas Marner is written detracts from the warmth that at some points George Eliot is trying to project. This is because the language is so dense it can cause the book to feel a bit cold. To conclude, Cider with Rosie is a light-hearted book about freedom, youth and happiness. It is very descriptive and every day situations are elaborated in order to make them interesting. Silas Marner contains many complex ideas and story lines. It is a fable and the moral is that love is more important than money. These are both very different books, with different perceptions on life.

Sublimation Definition (Phase Transition in Chemistry)

Sublimation Definition (Phase Transition in Chemistry) Sublimation Definition Sublimation is the transition from the solid phase to the gas phase without passing through an intermediate liquid phase. This endothermic phase transition occurs at temperatures and pressures below the triple point. The term only applies to physical changes of state and not to the transformation of a solid into a gas during a chemical reaction. For example, when candle wax undergoes combustion, the paraffin is vaporized and reacts with oxygen to produce carbon dioxide and water. This is not sublimation. The opposite process of sublimation, where a gas undergoes a phase change into solid form, is called deposition or desublimation. Sublimation Examples Dry ice is solid carbon dioxide. At room temperature and pressure, it sublimates into carbon dioxide vapor.Freezer burn results from sublimation of ice into water vapor.At the right temperature, the elements iodine and arsenic will sublimate from solid into gaseous form.Naphthalene, a chemical commonly used in mothballs, readily sublimates at room temperature and pressure.Water ice will sublimate, although more slowly than dry ice. The effect may be seen sometimes over snowfields when the sun is out, yet the temperature is cold. Practical Applications of Sublimation Sublimation and erosion cause ablation, a process which wears down glaciers.Sublimation of iodine may be used to reveal latent fingerprints on paper.Sublimation is used to purify compounds. It is especially useful for organic compounds.Because dry ice sublimates so readily, the compound is used to produce fog effects.

Department store Essay Example | Topics and Well Written Essays - 2500 words

Department store - Essay Example The name department store is derived from the fact that they offer different product categories at different prices in different departments. The product categories include home appliances, cosmetics, stationary, furniture, hardware, sporting goods, and electronics among others. They are all provided under the same roof at each specific department store. Department stores are part of other larger retail chains which are in a particular country or worldwide. Due to globalization, most department stores are all over the world which helps them to acquire a larger market share. However, most stores are located in the American, European and Asian markets where most of the consumers are middle class shoppers and business environments are favorable for setting up businesses. A department store operates in such a way that when a customer enters the store, he or she can get a range of products from the store. Different products are present at every department hence there is a lower probabilit y that the consumer will go to shop in another store. As most store claims, they ‘conceal’ the customer. Many department stores are part of chain stores. Since department stores operate in large scale, they benefit from the economies of scale where they are able to operate in large-scale at a cheaper price (Bhabatosh 2006). The accumulated capital is used to open other branches in different locations. Positioning and the relevance of department store Positioning of department stores is a process where the stores identify the target markets in the external environment where it can set up the right type of store. This decision should go hand in hand with the requirements of the population of the selected area. The position should be set in such a manner that it leads to profit maximization by the business firm. Image positioning of the department store should be done in such a way that it contributes to the competitive strategies of the store. The image of a department st ore is very important in attracting customers and especially those that travel a lot (Naji 2004). For example, a loyal customer of a certain store will shop at the store even after moving to another country with the same store. In the competitive global world, stores should come up with strategies that will help them stand out when it comes to competition with other stores. When it comes to the process of positioning, different strategies should be put in place such as; ‘what’ services and capabilities are outstanding so that they can be improves to increase competitiveness, ‘who’ the store is targeting as the consumer. This helps in creating awareness and bonds between the management of the store and the consumer. The last objective is ‘how’ the store can be categorized and distinguished from the other stores. Most stores attract customers by offering low prices and unique variety of goods as compared to the other stores. Different factors sho uld be put into consideration while choosing the position of a department store. They include the set location where the store is to be established. The location affects the type of goods to be offered and the type of customers to expect. For example, a department store in America and another in Africa will have different financial locations. The relevance of a department store to the society also affects the location where it should be established. This includes the type of goods to be offered and the set prices. Retailing current factors such as taxes

Dell Supply Chain Research Paper Example | Topics and Well Written Essays - 1250 words

Dell Supply Chain - Research Paper Example Second is the strategic partnership: relationship with supplier, customer and distributors. The development of the communication channels for critical information (market demands, availability of supplies) and operational improvement (transportation issues and compliance of regional specifications for products). Sourcing contracts and other purchasing decisions, more sources of suppliers meaning more options in purchasing with more information flow. A wiser choice could be made in term of pricing and quality of suppliers. 3. Analyze two of the decisions you have to make (one strategic, one operational) using relevant frameworks or models. Explain the results of the analysis and their implications. (the most important part) 40%marks The key to Dell's success as World's No. 1 Computer System provider is due to its success in integration of both the process and people as in the Dells's Supply Chain DNA (figure below) (Fugate and Mentzer, 2004). The elements in this DNA model include internal collaboration (production), demand management (procurement), financial business fundamentals (sales and finance) and leverage partners (suppliers). These elements each by themselves is a complicated bodies and managing them successfully require a bed of knowledge. The question is, how does Dell take them all into a smoothly The answer is by strategically integrating them by Dell's DNA (Fugate and Mentzer, 2004) information technologies. To be really specific, Dell is utilizing software - i2 Supply Chain Management to plan the production and communicate with the suppliers (Atlman et al., 2004). "i2 streamlines the supply chain by providing component suppliers and Dell planners with global views of product demand and material requirements. It also provides real-time factory scheduling and inventory management, so employees can generate key reports based on accurate and timely data, pinpoint inventory on the factory floor, and receive supplier deliveries on a true just-in-time basis" (Altman et al., 2004) The sales, production and supply are linked together through this software. Thus, in the new company, similar software

Game theory research paper Example | Topics and Well Written Essays - 1250 words

Game theory - Research Paper Example While doing so, the player must always think about the good mechanism for selling the painting in that given game. When developing such a game, one may have to consider a single shot game in which each of the players is asked to states his or her sealed bid for the painting. Based on the bids presented, the painting will be given or awarded to the most suitable bidder or player in the game. The most straightforward way of awarding the painting would be giving it to the highest bidder and then charging him for the bid. Teo and Sethuraman however notes that taking such an approach may not been very helpful because the developed situation does not have any dominant strategy solution (881). In such a case, the best strategy for each of the player or bidder would be entirely dependent on what he knows or assumes about the bidding strategy which is going to be used by the other players. When the player takes a wrong assumption about the strategy that is going to be used by other players, then the strategy that they will opt for will not be the best one. On the other hand, when the player makes the right assumption about the approach that is being used by the other bidders, then his strategy will be the best available one. On this basis, it is quite apparent that deciding on the value which should be placed on the bid by the bidder will always be a very big problem. The compl exity of the situation will automatically result in unpredictable behaviour in the game. Regardless of this, there are several available approaches which can be employed to deal with such situations just as it is effectively done in other games which lack a dominant strategy. One of the main ways through which such situations can be dealt with is the use and the applications of the Vickery auction approach. Vickery mechanism is a very common approach which is used to deal with various gaming situations which do

Sub Sector Indices and Crude Oil. Gold, Market Return

Sub Sector Indices and Crude Oil. Gold, Market Return CHAPTER 1 INTRODUCTION 1.1 Introduction The global crude oil price has been seen a sharp increase in recent years and has been widely reported in the daily newspaper or TV news. For example, popular business and financial US based website Bloomberg has been constantly providing breaking news headlines like The crude oil hits to level of $ 120 per barrel or Crude Oil Increases to 25-Month High as Commodities Gain. Besides, video clips are uploaded on the website with commentary by senior investment analyst on the last traded crude oil price with prominent TV host. It has been noted that rising crude oil prices has created jittery and uncertainty in the financial market. For example, any negative news on price increase or disruption to oil supply will cause stock market indices like Hang Seng Index, Nikkei 225, STI (Straits Times Index), Shanghai Composite, Seoul Composite, and others regional markets to fall sharply knee jerk reaction from the investors on panic selling . Theoretically, soaring of crude oil prices will cause inflation and inadvertently would cause interest rates to go up. Consequently, this would impact various segments of the financial market especially the stock market. It has been argued that continues rising on global oil price will eventually erode the company profit margin. Basher, Haug, and P. Sadorsky (2010) found that oil price can affect prices directly by impacting future cash flows or indirectly through an impact on the interest rate used to discount future cash flows along with in the absence of complete substitution effects between the factors of production and rising oil price. For example, there would be an increase in the cost of doing business as cost of capital will increase. In financial terms, discounting the free cash flow with the higher discount rate (cost of capital) will cause the fair value of stock price valuation to decrease significantly from previous valuation. J.Happonen (2009) also highlighted that spi king high prices on crude oil will affect greatly the poor as fuel costs are most significant in food production and transportation cost. High oil costs also hit various economies on a macro-level. Commodity analysts employ various types of methodology e.g. fundamental or technical analysis to forecast the future trend of the crude oil price meanwhile investment bankers start to develops and launches a new commodity mutual fund or unit trust products to attract attention on the public. As a precaution and in order to protect their investment, risk adverse investors are moving their assets into the safer assets like precious metal, e.g.; gold, silver and etc. According to Basher Sadorsky (2006), oil is the lifeblood of modern economies. When growth of Growth Domestic Product (GDP) of the countries are rapidly increasing like BRICs (Brazil, Russia, India, and China), total demand oil of the countries will increase significantly. There is a positive relationship between the crude oil price and global gold price trend in the market. The linkage of gold between the risings of crude oil price has been investigated and empirical studies show that the two commodities are correlated each others. P. Narayan, S. Narayan and Zheng (2010) examine the long-run relationship between gold and oil spot and futures markets at different levels of maturity and found a significant positive correlation between crude oil and gold price. The most oil producers Organization of the Petroleum Exporting Countries (OPEC) members are from Islamic country such as Iran, Iraq, Saudi Arabia, Libya, and etc. Based on the Islamic historical studies, Islamic law is forbids the use of a promise of payment such as fiat money USD dollar acting as a medium of exchange. Thus, most of members try to diversify their vast US dollar revenue holding into precious metals e.g. trade in gold Dinar and Dirham. The concept of Gold Dinar System was mooted out by our former Prime Minister Malaysia Tun Dr. Datuk Seri Mahathir on year 2002 before. The purpose of adopted the gold Dinar and Dirham is to represent the solely currency for international trade and prevent the Asia currency crisis 1997 to happen again. Meanwhile, some of the members also refused to accept USD as currency trade on the crude oil like Iran and Venezuela have been pushing for a switch to the euro to protect the value from further losses. This caused by US government adopted t he ease monetary policy on keep printing their money to curb the recession economy. Ultimately lead to USD dollar depreciated value relative with the Middle East oil producers currency. 1.2 Problem Statement Oil has been an important commodity and influences the economic activities of the country. On the other hand, gold has been used as important hedging tools to hedge against inflation which among others has been caused by rising oil prices. At present, with the present escalating oil prices, the world economy is grappling to contain inflation and ensure that the economic growth is not derailed. As a result, commodities like crude oil and gold has been a subject of studies by academics in various countries. Gold has been used as a good indicator of expected inflation in the market while oil is a barometer for deflation. Thus, when inflation is expected, investors will divert their asset to the gold portfolio to protect their asset value. On the other hand, when deflation is expected investor will reallocate their funds and start to buy safer government bond. This reaction can partially be explained by behavioral finance whereby the investor is irrational and market is an imperfect. A large body of empirical research has been conducted on the impact of oil prices and other macro variables with relation to the stock market. Wang, CP. Wang, and Huang (2010) attempt to establish the relationships among oil price, gold price, exchange rate and international stock market. They investigated the fluctuations in crude oil price, gold price, and exchange rates of the US dollar against other various currencies on the stock price indices of the United States, Germany, Japan, Taiwan and China respectively, as well as the long and short-term correlations among these variables. G. Sharma, A. Mahendru, (2010) studies on the impact of macro-economic variables on stock prices in India. In Malaysia, Shaharudin and Hon (2009) extended the research to investigate the stock return in relation with firms size and macroeconomic variables (Consumer Price Index, Industrial Production Index, Money Supply, Interbank Money Market Transaction, three months and six months Treasury Bills Disc ount Rate and crude oil prices) and found that stock return were significantly influenced by selected macroeconomic variables. Based on the importance of two commodities prices and gold, this paper is attempt to investigate and address the significant level of relationship between the commodities and the selected 10 major sub-sector components indices in FBM Kuala Lumpur Composite Index (KLCI). There have been limited researches studies on the different degree of impact of the crude oil price, gold price, market return, and short-term interest rate against sub-sector components index. A small number of studies were mainly using stock index FBM Kuala Lumpur Composite Index (KLCI) as the general proxy for overall performance of stock market. However, the stock index consist a numbers of sub sector components index in FBM Kuala Lumpur Composite Index (KLCI) it may not be a true reflective of a particular contribution of a sector to the overall stock market index. Thus, in our research will studies on these and examine the degree of significant level for commodities impact to a particular sub sector composite in dex. 1.3 Objective of the Study The main objective of the study is to examine the relationship of majors sub-sector indices between the crude oil prices, gold prices, market return, and short-term interest rate. The study will includes the examination of correlation between sub sector indices and 4 other variables as mentioned earlier. A sub-analysis on the gold oil ratio will also be conducted. Gold oil ratio is a barometer of economic vibrancy and when times are good; the ratios indicator remains low and these reflect a relatively robust priceand demandfor crude oil. When fear is pervasive or the economy slumps, the ratio is high, as gold is chased by investors looking for a safe haven. In other words, this would infer that when the current ratio is below the benchmark, gold price is either too cheap or crude oil is too expensive. When the ratio is greater than benchmark, it will mean otherwise. 1.4 Significance of the Study The economies of the world are now integrated in terms of trade and capital flows with formation of global network across different region. As such, when financial crisis occur, it will have systematic effect throughout the world. A clear example is the occurrence of U.S. Sub-prime crisis which happened in 2009 and present year Euro Zone Debt Crisis was created contagion effect to the global economy. With advancement of technology and innovation of financial product, risk adverse investors should be more alert on the important signals or indicators as a guide to monitor and time the market to avoid any unexpected risk. The aim of this paper is to study the relationship of oil prices, gold price, market return, and short-term interest rate on majors selected sub-sector index. The results on this study will add to the body of knowledge and assist policymakers like Bank Negara Malaysia as well as pratictioners such as corporate managers and investors to participate in the stock market. It also enhance their understanding on the level of impact on the four (4) variables to the selected sub-sector indices. The Arbitrage Pricing Theory (APT) postulates that every investor believes that the stochastic properties of returns of capital assets are consistent with a factor structure. For the purpose on this study, the APT model was adopted in evaluating the major sub-sector components indices relationship with various macroeconomic risk factors. The conclusion of the study shall enrich investor understanding on some sub-sector industries relationships to macroeconomic risk factors. Thus, smart investors still have a chance to explore it and gain return on that sub-sector industries. 1.5 Definition of Terms KLSE (Kuala Lumpur Composite Index) The FBM Kuala Lumpur Composite Index (KLCI) is used as a proxy for the performance of the Kuala Lumpur Stock Exchange and comprises the largest 30 companies listed on the Main Board by full market capitalisation that meet the eligibility requirements of the FTSE Bursa Malaysia Ground Rules. The two main eligibility requirements stated in the FTSE Bursa Malaysia Ground Rules are the free float and liquidity requirements. London Bullion Market (LBM) (U$ Troy Ounce) price Index shows the performance of gold prices over time per troy ounce. The troy ounce is a weight measure for precious metals, which is still used in the Anglo-American zone. It is named for the French city of Troyes. Crude Oil WTI (West Texas Intermediate) Known as Texas light sweet, is a type of crude oil used as a benchmark in oil pricing. It is a light (low density) and sweet (low sulfur) crude oil. It is the underlying commodity of New York Mercantile Exchanges oil futures contracts. T-Bill band 4 T-Bill band 4 is type of money market instrument. The Malaysian Treasury Bills (MTB) issued by the Central Bank of Malaysia are tradable on yield basis (discounted rate) based on bands of remaining tenure (e.g., Band 4 = 68 to 91 days to maturity). The standard trading amount is RM5 million, and it is actively traded in the secondary market. This instrument represents the short-term interest rate in the Malaysia money market. The high or low interest rate will make bonds look more attractive than stock and consequently impact the stock price return. Sub-sector Price Index Major sub-sector prices index are the 10 majors sub-sector price index consist of Consumer, Plantation, Finance, Trading and Services, Industrial, Industrial Products, Construction, Mining, Properties, and Technology. Each index is representing overall performance instituted on sub-part of FBM KLCI index. CHAPTER 2 THEORETICAL FRAMEWORK AND LITERATURE REVIEW 2.1 Introduction This chapter provides a comprehensive review on the empirical evidences on four (4) variables and the theories on Arbitrage pricing Theory (APT) model and Efficient Market Hypothesis (EMH). It will provide a better understanding of the relationship between variables and sub-sector component indices performance. 2.2 Macroeconomic Factors Choo, Lee and Ung (2011) investigates the behavior of Japanese stock market volatility with respect to a few macroeconomic variables including gold price, crude oil price and currency exchange rates (Yen/US$). The authors using the performance of GARCH models and Ad Hoc methods to carried out a comparison study. Their results show that macroeconomic variables used in this study have no impact on the volatility of Japanese stock markets and the simplest GARCH (1, 1) model yields the best result. Maysami et al. (2004) study on relationship between macroeconomic variables and stock market indices: co-integration Evidence from Stock Exchange of Singapores All-S Sector Indices and based on the study concludes that the Singapores stock market and the property index form co-integrating relationship with changes in the short and long-term interest rates, industrial production, price levels, exchange rate and money supply. 2.3 Crude oil Based on the past study from Huang et. Al, (1996), they found that oil future returns do not have much impact on SP 500 Index. On the other hand, Al-Rjoub,Samer Am* (2005) investigated the effect of oil price shocks in the U.S. for 1985-2004 using VAR Mixed Dynamic and Granger Causality Approaches to study the whether the U.S. stock market react to the oil shocks, a big importer of crude oil. They found that from VAR suggests that oil shock affect the stock market returns in the U.S. oil price are important in explaining the stock market reactions. According to Basher Sadorsky (2006), oil is the lifeblood of modern economies and can have significant impact on the growth of a countrys economy. In addition, Driesprong, Jacobsen and Maat (2004) found that investors in stock markets under react to oil price changes in the short run. Recent study by Charles (2009) found that higher volatility in both gold price and oil price reduces volatility of stock price. Some studies directly tested the relationship between oil prices and stock values. Huang, Masulis and Stoll (1996) applied vector autocorrelation models to find the time-series relationship and concluded that crude oil futures lead stock prices of oil companies. However, they were unable to bring a conclusion for any significant relationship to other stock prices. In addition, the volatilities of crude oil futures lead the volatilities of oil industry stock index. A related study (Sadorsky, 1999) had different conclusion. It showed that oil prices as an important factor which predicts stock prices very well. Sadorsky (2003) used vector autocorrelation model to verify the importance of oil price, federal fund rate, CPI, fo reign exchange as variables to describe the performance of technology stock prices. Hamilton (2008) examines the factors responsible for changes in crude oil prices and the statistical behavior of oil prices. The study includes the role of commodity speculation, Organization of the Petroleum Exporting Countries (OPEC), and resource depletion and found that although scarcity rent made a negligible contribution to the price of oil in 1997, the situation at present would be different and crude oil prices might play an important role. 2.4 Gold Melvin and Sultan (1990) consider a different approach of establishing the relationship between gold and oil markets. Their study was based on the implication of the gold prices through the export revenue channel. As gold is an integral part of the international reserve asset of several countries, including the oil producing countries, their finding reveal that stock shock will leads to expectations of official gold purchases and this in turn will make the expected future price of gold to soar higher. Sultan (1990) argue that when oil price rises, the oil exporters countries will benefit in terms of higher oil revenues. This in turn may have implications on the price of gold especially when the gold consists of a significant share of the asset portfolio of oil exporters (relative to other nations) and oil exporters purchase gold in proportion to their wealth. The impact on this will lead to an increase in demand for gold and subsequently rise in price of gold and ultimately an oil pr ice rise leads to a rise in gold price. Ismail et al. (2009) develop a forecasting model for gold prices using Multiple Linear Regression Method to predict gold prices based on economic factors such as inflation, currency price movements and others. They argue that investor starts to invest their asset in gold because of depreciation of US dollar currency and gold as an important stabilizing role for investment portfolios. based on their findings, they conclude that many factors determine the price of gold and several economic factors such as Commodity Research Bureau future index (CRB); USD/Euro Foreign Exchange Rate (EUROUSD); Inflation rate (INF); Money Supply (M1); New York Stock Exchange (NYSE); Standard and Poor 500 (SPX); Treasury Bill (T-BILL) and US Dollar index (USDX) were considered to have influence on the gold prices. 2.5 T-bill (short term interest Rate) T-Bill rate is a benchmarking for short-term interest rate and is deemed as risk free. As such, T-Bill rate is normally taken into consideration for financial valuation purpose and widely used by financial institutions and academics especially to determine the fair value of stock pricing. Chan et al. (1992) reaffirmed that the short-term riskless interest rate is one of the most fundamental and important prices determined in financial markets. In referred to Damodaran (2002) published textbook Investment Valuation: Tools and Techniques for Determining the Value of Any Asset, Choice of risk-free security the returns on both Treasury bill (t-bills) and treasury bonds (t-bonds), and the risk premium for stocks can be estimated relative to each other. This was based on the yield curve in the US that has been on upward-sloping for most of the past seven decades. The risk premium is larger when estimated relative to short-term government securities (such as Treasury bills). Damodaran (2002) also stated that the risk risk-free rate chosen in computing the premium has to be consistent with the risk-free rate used to compute expected returns. So, if the Treasury bill rate is taken into consideration as a risk-free rate, the premium has to be earned by stock over that rate. This applies to the Treasury bond rate as well and premium has to be estimated relative to that rate. He also mentioned that for the most part, in corporate fi nance and valuation, the risk-free rate will be a long-term default free (government) bond rate and not a Treasury bill rate. Thus, the risk premium used should be the premium earned by stocks over Treasury bonds. 2.6 FBM Kuala Lumpur Composite Index (KLCI) The FBM KLCI is taken as a proxy to represent the market growth optimal portfolio. This research paper attempt to construct and compare various total-return world stock indices based on daily data. The data was collected from DataStream Advance cover the period from 01 January 1973 to 31 August 2006. Due to the diversification, these indices are noticeably similar. This proposed method of constructing a proxy for the growth optimal portfolio has specific advantages over the methodologies of diversity weighting and market capitalization weighting. The diversified world stock index has applications to derivative pricing and investment management. Petttengill et al. (1995) developed a conditional relationship between return and beta that depends on whether the excess return on the market index is positive or negative. When the excess return on the market index is positive (negative), there should be a positive (negative) relationship between beta and return. Their empirical results support the conclusion that there is a positive and statistically significant relationship between beta and realized returns. Furthermore, consistent with Hodoshima et al. (2000), the results are similar when the test is done on 20 beta sorted portfolios. However, it seems that the negative relationships during down market are steeper in Tokyo Stock Exchanges (TSE), which seems to have contributed to have negative rewards for holding beta risk in the long run. Consistent with the findings of Pettengill et al. (1995) in the USA and Hodoshima et al. (2000) in the Tokyo Stock Exchange (TSE), the result found that there is a significantly positive relat ionship between portfolio beta and portfolio return during up markets and the relationship is significantly negative during down markets. Moreover, the test of individual stock return shows that this conditional relationship can even be seen in individual stock returns. That is, there is a significantly positive (negative) relationship between individual stock beta and individual stock return up (down) markets. However, the results of the study suggest that the beta-return relation, in the Tokyo Stock Exchange (TSE), seems to be negatively steeper during down markets, which seems to have contributed to have a negative reward for holding beta risk even in periods where the average market excess return is positive. Therefore, in conclusion, the results suggest that, though the slopes during down markets seem to be steeper than up markets, there seems to have a conditional relationship between beta and return, which justifies the continued use of beta as a measure of market risk. 2.7 Arbitrage Pricing Theory (APT) The Capital Asset Pricing Method (CAPM) is a single factor model it specific risk as a function of only one factor, the securitys beta coefficient. CAPM has been considered as one of the main tools to study for the risk-return trade-off assets. CAPM has been widely referred and used in academic research and business financial studies. As long as the return for any asset is interrelated to one variable with its market beta, or the systematic risk, it is defined as the covariance of an assets return and the market return. CAPM implies that expected returns and market beta exists, and only market beta that efficiently exanimate the time series and cross-sectional tests for asset returns. CAPM has its restrictions, assume investors are rational and based on several assumptions that were not practical in the real world. According to empirical studies by Fama and MacBeth (1973), there are several variables e.g. the market value of equity ratio (MVE), the earnings to stock price ratio (E/P), and the book-to-market equity ratio that having greater influence compare to market beta. Another study was carried out by Ross (1976) on the Arbitrage Pricing Theory (APT) which was considered a new modeling for CAPM. Ross refute through Arbitrage Pricing Theory (APT) that market beta is not the only variable to measure the systematic risk. There are multiple variables that have an effect on the stock returns beside market beta. The study tested on systematic, unconditional, and positive trade-off between average returns and beta. Perhaps the risk-return relationship is more complex, with a stocks required return a function more than one factor. For example, what if investors, because personal tax rate on capital gain are lower than those on dividends, value capital gains more highly than dividends. Then, if two stocks had the same market risk, the stock paying higher dividend would have the higher required rate of return. In that case, required returns would be a function of two factors, market risk and dividend policy. The Arbitrage Pricing Theory (APT) can include any number of risk factors. So the required rate of return could function of two, three, four or more factors. The Arbitrage Pricing Theory (APT) is based on complex mathematical and statistical theory that goes far beyond the scope for discussion in this paper. Even though the Arbitrage Pricing Theory (APT) model is widely discussed in academic literature, the practical usage to date has been limited. The concepts of Arbitrage Pricing Theory (APT) which assume that all stocks return depend on only three factors: Inflation, industrial productions, and the aggregate degree of risk aversion (the cost of bearing risk, it was assume that this will be reflected in the spread between the yields on Treasury and low-grade bonds). The primarily theoretical advantage of the Arbitrage Pricing Theory (APT) is that it permits several economic factors to influence individual stock returns, whereas the CAPM assumes that the effect of all factors, except those unique to the firm, can be captured in a single measure fewer assumptions than the CAPM and hence is more general. Efficient Market Hypothesis (EMH) The Efficient Market Hypothesis (EMH) was developed by Professor Eugene Fama. He said that an efficient capital market theory is one in which security prices adjust rapidly to the arrival of new information and, therefore, the current prices of securities should be reflected all information about the security. In simple terms, it means that no investor should be able to employ readily available information in order to predict stock price movements quickly enough so as to make a profit through trading shares. If markets are efficient, stock price will rapidly reflected all available information. There are different types of information available to incorporate into stock prices. Financial theorist have been developed the three form of market efficiency. There are three common forms in which the efficient-market hypothesis is commonly statedweak-form efficiency, semi-strong-form efficiency and strong-form efficiency, each of forms has different implications for how markets work. In weak-form efficiency, future prices cannot be predicted by analyzing prices from the past. The abnormal return cannot be earned in the long run by using investment strategies solely depend on historical data share prices. Moreover, technical analysis techniques will not be able to consistently produce an abnormal profit, though some forms of fundamental analysis may still provide excess returns. In semi-strong-form efficiency, it is implied that share prices adjust to publicly available new information very rapidly and in an unbiased fashion, such that no excess returns can be earned by trading on that information. Semi-strong-form efficiency implies that neither fundamental analysis nor technical analysis techniques will be able to reliably produce abnormal return. However, in strong-form efficiency, share prices reflect all information, public and private, and no one can earn excess returns. If there are legal barriers to private information becoming public, as with insider trading laws, strong-form efficiency is impossible, except in the case where the laws are universally ignored. CHAPTER 3 RESEARCH METHODOLOGY This chapter provides an outline of the research process designed to investigate the relationship between economic variables and Sub-sector price index. 3.1 The Data In this section, we will summarize our models data and present the methodology of our model. The daily data for interdependent and dependable variables e.g. FBM KLSE (Kuala Lumpur Composite Index), T-Bill band 4, Crude oil WTI (West Texas Intermediate) price, London Bullion Market (LBM) (U$ Troy Ounce) price, and Sub-sector Price Index are collected from the DataStream and cover from period 17/04/2000 to 18/04/2011. There are 2610 daily observations obtained from DataStream. The data set is given in the Appendix of this paper. In relation on this, dependable variable are consists of ten (10) majors price index e.g., Consumer Product, Plantation, Finance, Trading and Services, Industrial, Industrial Products, Construction, Mining, Properties, and Technology. As can be seen from figure 1, there is an increasing trend on global gold price and reached its the highest point, $ 1,492.06, on 18th April, 2011. The gold price was tending to increased since year October, 2008. We believe this trend will continues increasing due to strong demand and short supply gold in the commodities market. Moreover, some expertise research firms like GFMS, a leading global precious metals consultancy, released its 2011 Gold Survey and GFMS expects that gold will reach $1,600 by the end of 2011. Another independent variable, Crude oil WTI (West Texas Intermediate) price known as Texas light sweet, is a type of crude oil used as a benchmark in oil pricing. As refer to figure 2, the oil price increase significantly during year 2007 and the reasons behind can be explained by the Asian growing demand on oil to sustain their economy growth. The past researchers also been reported, that oil consumption in India was increased approximately 8.7% according 1998 and 6.5% according to 2006. Mehmet Eryigit (2009) has studied and found that in year 2007, USA has been consumed the 23.9% of the total oil, however total share of the world oil consumption for China, India and Turkey in 2009 is only accounted 13.4% (China consumed 9.3%, India consumed 3.3%, and Turkey consumed 0.8%). Meanwhile, back to middle of year 2008 Sub-prime crisis was happened in U.S financial system and the crude oil price has reached to a minimum price $31, that is a minimum last trader price was reported since year 2004. After decreasing trend along the year 2008, early of 2009 crude oil price are at the recovery stages and maintained a reasonable price between $ 65 -$ 100 per barrels. We expect the crude oil price bullish will continue increasing. The next independent variable is Market returns FBM Kuala Lumpur Composite Index (KLCI). The Kuala Lumpur Composite Index (KLCI) is used as a proxy for the performance of the Kuala Lumpur Stock Exchange and comprises the largest 30 companies listed on the Main Board by full market capitalization. The last independent variable is T-Bill band 4. T-Bill band 4 is type of money market instrument. The Malaysian Treasury Bills (MTB) issued by the Central Bank of Malaysia Are tradable on yield basis (discounted rate) based on bands of remaining tenure (e.g., Band 4 = 68 to 91 days to maturity). This instrument are represents the short-term interest rate in the Malaysia money market. The high or low interest rate will make bonds look more attractive than stock and consequently impact the stock price return. Figure 1: London Bullion Market (LBM) (U$ Troy Ounce) Price Figure 2: Crude Oil WTI (West Texas Intermediate) Price 3.2 Conceptual Framework 1. Crude Oil WTI 2. London Bullion Market (LBM) (U$Troy Ounces) 3. KLSE (Kuala Lumpur Composite Index) 4. T-Bill Band 4 Sub Sector Price Index Consumer Product, Plantation, Finance Trading and Services, Industrial, Industrial Products, Construction, Mining, Properties, and Technology.The conceptual framework of this study was derived from literature review where proven macroeconomic variables like FBM Kuala Lumpur Composite Index (KLCI) are used as independent variables. The Crude oil WTI (West Texas Intermediate) future contract price, London Bullion Market (LBM) (U$ Troy Ounce) price, and T-bill band 4 had been widely used in evaluating a significant statistical rel