Tuesday, August 25, 2020
Reauthorization Act of the Higher Education Act Research Paper
Reauthorization Act of the Higher Education Act - Research Paper Example The demonstration explains recorded as a hard copy that schools are obliged to utilize forms that ensure the security of separation learning understudies and illuminate understudies about any likely additional understudy charges identified with understudy personality confirmation, assuming any, when the understudy is enlisting of selecting. In what capacity will this effect the school as far as guidance, assets, financial aspects, testing, and security? The result of this approval is that schools that are directly offering separation learning programs in all states should get approval in every one of those states. Approval offices at the state level are perceived in all the fifty states and nine U.S. domains. In sixteen states, more than one overseeing organization exists, carrying the full number of offices to seventy-six. Since each state and organization has its exceptional position to set up special necessities, gauges, and systems; this strategy will be very long and intricate.à The application procedures and charges in certain states are uncertain; others are presented to interpretation,â while many are directly under amendment or survey. It isn't in all expresses that accreditation is required as a component of its approval procedure and few organizations at this point should be approved as far as physical nearness. Besides, a few elements figure out where and how to demand approval. These incorporate institutional conveyance arranges, the sort of foundation, and the sorts of instructive exercises that are to be embraced inside the outskirts of a state. In synopsis, schools should meet the accompanying necessities passing by the demonstration: I. Make a one of a kind username/secret phrase arrangement in the event that they have not effectively done that. (ITC Annual Survey for 2008 found that 96% of establishments report they as of now do this) ii. Extend past this standard relying upon anticipated accreditation desires and upgraded arrangements. iii. Concentrate to scholarly trustworthiness issues. (ââ¬Å"ACE Analysisâ⬠, 2008) What mechanical devices exist to help with meeting the prerequisites of this arrangement? Both innovative and low-tech mechanical instruments can be utilized to meet the prerequisites of this arrangement. Studies about biometric understudy verification frameworks show that there are a scope of recognizable ID advancements existing that may be utilized (Mann and Ward, 2011). Universities can utilize these frameworks whenever an understudy signs into the learning organization framework, during simultaneous talk meetings and in delegating conditions. A portion of the cutting edge advances include: â⬠¢iris filtering, â⬠¢fingerprint examining, â⬠¢keyboard composing rhythm, â⬠¢handwriting acknowledgment and â⬠¢speech acknowledgment. As far as non-biometric validation, a portion of the advances that can be utilized include: â⬠¢remote, on location delegate who regulate the understudi es sitting for the test at the area of the understudies; â⬠¢ Microphones and web cameras that outwardly record the encompassing of the understudy during the assessment, including foundation commotion and developments; â⬠¢Ã¢â¬Å"out-of-walletâ⬠information withdrawal of private data that requires that the understudies answer individual inquiries preceding taking the test or over the span of the test; â⬠¢verification of IP address check: this expects understudies to take their test on a distinct PC; â⬠¢ lockdown programs that deny understudies perusing the web or utilizing texting applications throughout the test (inside a learning administ
Saturday, August 22, 2020
Schools of Strategy Essay Example | Topics and Well Written Essays - 3250 words
Schools of Strategy - Essay Example Additionally this school makes CEO as the primary formulator of the technique. The arranging school of procedure distinguishes technique making as a proper procedure. It requires a mechanical and efficient procedure of methodology detailing with no or little innovativeness. The intellectual school sees system making as a psychological procedure and takes contribution from various ideas of brain research. This school is to a great extent applied in nature. The taking in school weights on gaining from past understanding and in this way observes technique making as an emanant procedure. The force school of system contends that haggling between various force holders inside the association is a significant piece of technique detailing. The ecological school sees technique making as a responsive procedure that is subject to the outside condition. The social school of technique calls for bunch work in definition of system. The design school of methodology sees procedure making as a procedur e of change. The various schools of technique can be gathered into three bigger gatherings (Mintzberg, Ahlstrand, and Lampel, 2002). First gathering is prescriptive in nature and comprise of configuration, arranging, and situating school. This gathering tells how a procedure ought to in a perfect world be made. Second gathering tells how the procedure is made and bargains of pioneering, subjective, learning, power, social, and natural schools. The last gathering comprises of the design school that is both prescriptive and distinct in nature. Configuration School of Strategy The plan school of technique contends for intentionally controlled idea with regards to procedure making so as to build up a fit between outside circumstances and interior fitness (Mintzberg, 2006).... This paper focuses on that the position school likewise places the activity of system definition in the hands of master. Both the schools don't discuss cooperation and sharing of data with regards to advancement of procedure. Unified methodology in technique making was the outlook for quite a while in the board. Information sharing was not viewed as imperative until present day methods of correspondence were created. This is the reason both the situating school and configuration school see procedure making originating from a brought together source. Configuration school expect that condition is steady and unsurprising, and there is no vulnerability while the situating school acknowledges that commercial center may change because of contenders and change popular. In any case, both the schools center around the monetary condition. This report makes an end that the plan school and the situating school are two of the schools of technique introduced in the book. The plan school got well known in later piece of 1950s and spotlights on innovative system definition by the pioneer with the point of making a fit between the outside condition and the fitness of the firm. The situating school was established by Michael Porter and it centers around methodology plan as an explanatory procedure. This school contends that finding the correct business for the firm is basic and offer model for picking an industry. At that point this school recommends that inflexible stances itself in the business and afterward picks a methodology comparative with the situation of the firm.
Friday, August 7, 2020
There Are No Uninteresting Things
There Are No Uninteresting Things only uninterested people. I kind of hate coming up with titles, so when I cant, I scour the internet for a quote thats moderately related to what Im writing about. That particular one comes from Gilbert K. Chesterton. In any case, the entire point of that little tangent was to get on the topic of knowledge, and from there, school. Classes have started, as has already been pointed out by several others, and during term, classes are generally at the top of my priority list. And also, I figured that I would have a problem if Snively managed to get more posts up than me, so Im going to stay one jump ahead of him. Im taking four classes this term, which is a pretty normal load. Those of you that wanted a Course VI overload are going to enjoy this, because thats sort of what Im going for. So now, in numerical order: 6.002 Circuits and Electronics: The general purpose fundamentals of electronics class. This used to be required of all Course VIers, but its going to be phased out in the next few years in favor of 6.01 and 6.02. So far weve covered basic circuit elements like voltage/current sources and resistors, and solving the systems of equations that represent circuits. Later on well be covering things like how MOSFETs work and signal filters. I can already tell that this is going to be challenging for me, because were already dealing with things that I dont have to think about in the circuits that I design. 6.034 Artificial Intelligence: Mostly what it sounds like. Im more interested in electrical engineering than computer science, but this class is supposed to be very good. Its taught by Patrick Winston. Winston has written several books on the topic, and used to be the head of the MIT AI Lab (before it joined with the CS Lab to become CSAIL). In addition to that, though, hes also my advisor in case you didnt believe the you, too, can have a famous researcher as your advisor bit. Winston teaches the concepts using Scheme as his language of choice, which is a great language for focusing on the underlying concepts of the code and not the specific implementation. 6.111 Introductory Digital Systems Laboratory: Endearingly known as the Digital Death Lab. This class revolves around using FPGAs (Field Programmable Gate Arrays), a form of programmable logic. This is a really weird concept thats exactly what it sounds like: you define the logical operations that are applied to the inputs. Its kind of like working with processors, but processors have a limited, pre-defined set of instructions that they are restricted to. FPGAs can do just about anything, and short of custom designing your own integrated circuit, they can operate faster than anything else, too. This class is the one that Im most excited about, because FPGAs are just amazing. Finally, 21M.223 Folk Music of the British Isles and North America: I studied fiddle in high school, and Ive always been a fan of that, Celtic music, and styles like that. This class covers primarily ballads and fiddle music, so I thought it would be a good fit. In addition its a HASS-D and CI-H, so itll count towards a couple of the HASS graduation requirements. I think Ive got a good set of classes, but I know already that its going to be a rough semester. In the first week of classes, I had 2 labs, 2 psets, and about 75-100 pages of reading. Which reminds meI have more reading to do
Saturday, May 23, 2020
Ch 3 Quiz - 864 Words
1. Invention is A) the process of making known or sharing the existence of an aspect of reality. B) the process of introducing new elements into a culture. C) the process by which a cultural item is spread from group to group or society to society. D) the combination of existing cultural items into a form that did not previously exist. Table for Individual Question Feedback Points Earned: 1.0/1.0 2. A law is A) none of these B) governmental social control. C) a norm governing everyday social behavior, the violation of which raises comparatively little concern. D) an informal norm that is deemed highly necessary to the welfare of a society. Table for Individual Question Feedback Points Earned: 1.0/1.0 3. Collective conceptionsâ⬠¦show more contentâ⬠¦A) frugality B) the supremacy of science over faith C) nationalism D) equality Table for Individual Question Feedback Points Earned: 1.0/1.0 12. Penalties and rewards for conduct relating to a social norm are known as A) folkways. B) mores. C) values. D) sanctions. Table for Individual Question Feedback Points Earned: 1.0/1.0 13. Mores are A) none of these B) norms governing everyday social behavior, the violation ofShow MoreRelatedEcon 2301 Study Guide1079 Words à |à 5 Pagesdivided into 3 ââ¬Å"Partsâ⬠as indicated by the course calendar and summarized here: - Part 1: Chapters 1-4 - Part 2: Chapters 5-9 - Part 3: Chapters 10-14 Course Evaluation / Grading System There will be a quiz at the start of each chapter and an exam at the end of each Part. You will earn four (4) scores: three exam scores and one quiz score (based upon the sum of points earned on quizzes throughout the semester). Each studentââ¬â¢s lowest score will be automatically dropped, and the remaining three (3) scoresRead MorePersonal Financial Planning1579 Words à |à 7 PagesPersonal Financial Planning Course Outline Instructor: E. 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All rights reserved. Course Description This course provides an overview of the elements necessary for effective personal financial planning and the opportunity to apply the techniques and strategies essential to this understanding. Primary areas of study include creating and managing a personal budget, understanding and paying taxes, working with financialRead MoreElementary Algebra and Study Plan2894 Words à |à 12 Pagesto algebraic expressions. Translate English phrases to algebraic expressions. Due Points Course Preparation Reading Reading Participation Read the course description and objectives. Read the instructorââ¬â¢s biography and post your own. Read Ch. 1, sections 1.1ââ¬â1.8 of Beginning and Intermediate Algebra. Read the Associate Level Material: MyMathLab à ® Study Plan. Participate in class discussion. Ongoing ââ¬â At least 2 posts on 4 Separate Days. Class participation posts require a minimum of 75
Tuesday, May 12, 2020
Did Ladies Have A Renaissance Like The Men - 1650 Words
Taking after the Middle Ages in Europe, came the period known as the Renaissance. Renaissance implies resurrection, and it implied the resurrection of antiquated Greek and Roman society for the exclusive class living essentially in Italy around 1350-1650, and incidentally in England in the late sixteenth century, and hardly in France and Northern Europe. Well known from these years were numerous artisans like Michelangelo and Leonardo da Vinci, and scholars like Machiavelli and Erasmus. Renaissance researchers believe that current political and monetary practices began in the Renaissance, while medievalists (researchers of the Middle Ages) imagine that the forerunners were at that point present in Medieval Society. (Maulde-La-Clavià ¨re R, 1901, p. 36) Another equivalent purpose of dispute was whether ladies themselves added to and profited from the Renaissance. As the prominent student of history Joan Kelly asked quite a few years back, did ladies have a renaissance like the men d id? Ladies lives all through Europe amid the Middle Ages and Renaissance were unequivocally formed by the irresolute states of mind of a capable Church whose ethical solutions were authorized not just in the confession booth, additionally by the laws of the state. Eve was the villainess of Christian history, the reason for unique sin and of man s fall. God made her from Adam s rib, subordinate. (Brown, 2001, p. 27) Be that as it may, she was enticed by the serpent, and enticed Adam to sexualShow MoreRelatedEssay about Ladies and Gentlemen1311 Words à |à 6 Pagesââ¬Å"Ladies Gentlemenâ⬠Meerim Umetalieva Strayer University Castiglioneââ¬â¢s The Book of the Courtier is a sort of guide to the qualities expected of ladies and gentlemen of the court. Book of the work is a long conversation on the proper station of the court ladies. The discussion on the Court lady began from an argument over the proper way to tell a joke to a woman. The Court lady was to have cautiousness, continence, and fairness, to shun affectation, be graceful and well mannered, modestRead MoreThe Renaissance: The Dawning of a New Age Essay1627 Words à |à 7 PagesThe age known as the Renaissance began in the fourteenth century. The word Renaissance means rebirth, those alive in this era witnessed the dawning of a new age. It began as a literary movement among the educated and upper-class men in northern Italian cities (Wiesner 210). Writers and artists studied Roman models and Petrarch, a Renaissance writer, proposed a liberal arts curriculum in order to recapture the previous glory of Rome. The philosophy of humanism became popular bringing about the curiosityRead MoreGender Stereotypes : Macbeth And The Wife Of Bath1515 Words à |à 7 Pagesobstacles due to the well-known gender stereotypes. This triggered the literature authors to w rite a literature in a feminist view, which ultimately had led feminism to predominantly act as a common literary device throughout the medieval ages and the Renaissance. While many authors portrayed women as a weak stereotypical female, some authors such as William Shakespeare and Geoffrey Chaucer challenged this by describing the female characters as strong and ambitious characters. Not only challenging the sexualRead MoreThe Book of the Courtier Essay1457 Words à |à 6 Pages so too is a courtier without a Court lady. In The Book of the Courtier Baldesar Castiglione not only included a perfect courtier, he also molded his female equivalent, a Court lady. The Courtier itself was a step by step guide intended to instruct the young, affluent and upwardly mobile in areas of manners, learning, sport and conduct. It was published in 1528, at a high point of humanistic thought and antiquarian chivalric interest in Renaissance Italy. 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The characteristics of a ââ¬Å"perfectâ⬠woman have clearly changed over time, and The Courtier proves thisRead MoreRepresentation of Masculinity the Renaissance Family and Shakespeares Macbeth1233 Words à |à 5 PagesRepresentation of Masculinity the Renaissance Family and Shakespeares Macbeth Familiarity with Shakespeares work often leads to awareness to the representation of masculinity, gender roles, and the patriarchal order as these subjects are often greatly reflected in his writing. Renaissance concept of order meant there was a shift from what used to be an Open Lineage Family, to a Restricted Patriarchal Nuclear Family. In turn, Renaissance families saw an increase in obligationsRead MoreWilliam Shakespeare s Play For King James I, The Tragedy Of Macbeth1200 Words à |à 5 Pagesequal to those of men (ââ¬Å"Feminismâ⬠). 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Rather than chivalric gods, monarchs such as Edward IV and Henry VIII stands out the most in this variation. From the cover of an apologetic text to that of anyRead MoreThe Role Of Gender During The Renaissance Period1466 Words à |à 6 Pagesthe Renaissance period, which took place between 1300-1700. The term Renaissance stands for ââ¬Ërebirthââ¬â¢, and in this context refers to the increased interest that was taken in learning from Greek and Roman classical writing. Recent exploration by historians into the Renaissance period has seen a fixation on the discussion of the role of gender during the Renaissance. A variety of historians, such as Joan Kelly and Merry E. Weisner, believe that women didnââ¬â¢t experience any form of a Renaissance duringRead M oreHow Did The Renaissance Transform Literature?1009 Words à |à 5 PagesJackson Pollock Mr. Vandebunte World Studies 27 October 2014 How did The Renaissance transform Literature? The Renaissance transformed todayââ¬â¢s political and cultural themes along with Shakespeareââ¬â¢s plays by changing how they used English or their native language. The Renaissance was a re-awakening from the dark-ages. The word renaissance literally means rebirth. The Renaissance was fueled my soldiers returning from the Crusades. There was a spark of interest in artwork after. It used to be all
Wednesday, May 6, 2020
Causes And Effects Of Climate Change Environmental Sciences Essay Free Essays
The Earth ââ¬Ës ambiance contains some gases known as nursery gases, which occur of course: H2O vapour, C dioxide, methane ( CH4 ) , azotic oxide ( NO ) , and ozone ( O3 ) . The beds of these gases of course present in the atmosphere Acts of the Apostless as the roof of a nursery and trap heat near to the Earth ââ¬Ës surface. As a consequence, it maintains the average temperature of the Earth ââ¬Ës surface at around 16Aà °C, which is important to guaranting climatic conditions that can back up life of animate beings and workss on Earth ( CRCD, 2009 ) . We will write a custom essay sample on Causes And Effects Of Climate Change Environmental Sciences Essay or any similar topic only for you Order Now Harmonizing to IPCC ( 2007 ) , since the industrial revolution, human activities have caused significant additions in concentrations of nursery gases in the ambiance. The chief GHGs and their emanation beginnings are: Those above mentioned are the chief factors that much contributed to do the clime alteration has been happening of all time since. In 1990, IPCC, which consists of about 2,500 international scientists, confirmed that human activities have contributed to climate alteration. It besides concluded that if current nursery gas emanation tendencies continue, the mean planetary temperature will increase by 3Aà °C before the terminal of the twenty-first century ( IPCC, 2007 ) . Within this respect, clime alteration is holding serious impacts on agricultural production, H2O resources, human wellness, coastal countries, forest and ecosystems. Increasing inundations, drouths, windstorms and other clime alteration related catastrophes, both in frequence and strength, have caused tremendous amendss to many states throughout the universe. The followers are some facts about clime alteration ( Anup, 2004 ) : The universe is heating up fast. Temperatures are lifting more rapidly than they have done for 10,000 old ages. The 1990s were the warmest decennary on record, and 1998 was the hottest twelvemonth. The Earth ââ¬Ës mean surface temperature has warmed between 0.3 and 0.6 grades Celsius in the last 100 old ages. It may lift by two grades in the following 100 old ages, if we go on bring forthing nursery gases at the present rate Sea degrees have risen by between 10-25 centimeters in the last 100 old ages, as polar ice caps have melted. They are projected to lift another 50 centimeters by 2100 There have been unpredictable and utmost conditions forms freak weather catastrophes such as hurricanes, storms, and inundations. Normally, clime alteration consists of three cardinal effects: alterations in regional rainfall forms, sea degree rise, and increased mean temperature. Those impacts are summarized one time at a clip as the followers. The Impacts of Climate Changes In this paper, the impacts of clime alteration are divided into two parts. The first portion is traveling to capture the impacts of clime alteration in general while the latter focal points on the impacts of that in Cambodia as the instance survey and besides as one of the intent of this paper. Global Impacts of Climate Change The impacts of clime alteration is recognized is no boundary issues. Actually, both developed and developing states suffer from them. However, developing states will bear the brunt of clime alteration impacts. This is because poorness makes people more vulnerable to climate alteration impacts. The hapless do non hold equal capacity and resources to cover with and to accommodate to climate alteration. For case, lifting sea degrees will endanger 1000000s of people populating in island provinces and in low-lying deltas in states like Bangladesh, Egypt and China. ( ADB, 2009 ) . Global heating will impact H2O supplies and cut down nutrient production in the Torrid Zones and semitropicss, where most underdeveloped states are, seting 1000000s of people at hazard of hungriness in the hereafter. Water Resources Based on Chu, Kittipong, Guillaunme, A ; Vithet ( 2010 ) , climate alteration will take to alterations in the hydrological rhythm. Precipitation will increase in some countries and diminution in others. This will alter inundation and drought frequence and strength. Changes in seasonal forms may impact the regional distribution of both land and surface H2O supplies. Water quality may besides react to alterations in the sum and timing of precipitation. Changes in H2O temperatures could impact the endurance, diverseness and productiveness of fresh H2O ecosystems. Agricultural Production Higher temperature and alterations in rainfall forms will hold impacts on harvest outputs and productiveness. Outputs will likely diminish due to inordinate irrigation demand, increased rainfall, which will do dirt eroding and dirt leaching, and harvest amendss caused by increasing utmost clime events. Sea degree rise will besides do losingss in cropland in low-lying coastal countries ( Anup, 2004 ) . Human Health The study from Odingo ( 2009 ) shows that the direct impacts of clime alteration on wellness include an addition in heat emphasis and in cardiovascular, respiratory, allergic and air borne diseases. Increase in frequence and/or strength of utmost conditions events could ensue in decease, hurts, psychological upsets, and harm to public wellness substructures. The hapless will be more vulnerable to the wellness impacts than the rich. However, richer states will besides be progressively vulnerable as their populations age. For case, tropical diseases such as malaria and dandy fever febrility are besides likely to increase as the home grounds for mosquitoes and other vectors ( insects ) expand when the temperature rises. Food- and water-related diseases will besides increase due to warmer temperatures, reduced H2O supplies and proliferating micro-organisms. Coastal Areas Observations show that the planetary mean sea degree has risen by 10 to 25 centimeter over the last century, which is chiefly related to an addition of 0.3-0.6 o C in the planetary mean air temperature since 1860. If the current tendency in planetary heating continues, so, sea degree is predicted to lift another 15 to 95 centimeter by the twelvemonth 2100. This will happen due to the thermic enlargement of ocean H2O and an inflow of fresh water from runing glaciers and ice. As a consequence, the low-lying coastal zones and little islands are highly vulnerable to sea degree rise. It is projected that a 1 m low-lying rise would do estimated land losingss of 6 % in the Netherlands, 17.5 % in Bangladesh and over 50 % for some little island provinces ( CRCD, 2009 ) . Forest and Ecosystems Forests play an of import function in the clime system. They are a major reservoir of C. They besides straight affect local, regional, and Continental clime by act uponing land temperature, evapo-transpiration, heat coefficient of reflection, cloud formation, and precipitation. The composing and geographic distribution of ecosystems will alter as single species respond to new clime conditions. At the same clip, home grounds will be degraded and fragmented by the combination of clime alteration, deforestation, and other environmental force per unit areas. The extinction of some works and animate being species that are unable to get by with clime alteration impacts would probably happen ( Odingo, 2009 ) . How to cite Causes And Effects Of Climate Change Environmental Sciences Essay, Essay examples
Friday, May 1, 2020
Discrimination in Worlplace for Hospitality- myassignmenthelp
Question: Discuss about theDiscrimination in Worlplace for Hospitality Management. Answer: Introduction to the issue The essay will discuss in detail about the issue of sexism in the technology sector. Any kind of discrimination especially sexism in this sector is considered as an occupational sexism. It has been argued a lot of time in media that there is a high ratio of women and men, rates of graduation for number of engineering based degrees as well as culture of the industry itself are the main reason of sexism in the technology sector (Nadal et al, 2014). While looking at the industry, one will understand that the first programmer in the world happened to be a woman. In the year 1843, a woman called Ada Lovelace developed the very first theoretical algorithm in software. The vision presented by her was based on analytical engine that can weave any kind of pattern like Jacquard loom can weave leaves and flowers. The vision of her should have become an embody or the lifeblood of technology industry along with invention and pushed boundaries of various possibility. However, her efforts and legacy want into haywire with todays age modern programming where the existence of women in this industry has become dangerously gendered (Collins, 2011). Description of IT industry The word information technology often called as IT are widely come in used in organization as well as filed of computing. People using the terms in this field are generally referring towards many kinds of computer based work with sometime people confuses with the meaning. For more than ten years there are many corporation that have created a distinct kind of IT department to manage the computer based technologies associated for the business (Webster, 2014). Whatever such departments worked on becoming the main definition of IT, one that has evolved over a period. In the present time, IT department have accountability in following areas: - Technology support from computer Business based computer network as well as database administration Software deployment from business point of view Security of information The computing system and capabilities are expanding across the world along with data overload which is becoming a critical challenge for many professionals in the sector. Efficiency based processing covers huge data that can produce useful business based intelligence which need large amount of processing based power with sophisticated software as well as analytical skills of a human being (Wright, 2011). Communication as well as teamwork based skills have also become important in many organization to manage the different complexities of IT based systems. There are many IT professionals that are accountable for providing right kind of services to business user who are not properly trained in computer based networking system or other technologies however who are not rightly trained in computer networking (Whittaker, 2011). Then there is system and network based security challenges that become the main concern for many business managers as any security case can largely damage the reputation of the company and cost based larger sum of money. Potential impact of the issue on the IT industry and on the conduct of practice There is a potential rise in the number of women that are accusing technology based companies that are having an apathetic stance on harassment as well as inequality. In last few months, companies like Google has been largely accused of having a systematic kind of disparities in compensation that exist between all genders in the company (Campos-Soria et al, 2011). As per the reports, approx. two thousand and eight-hundred-word blog post consist of all kind of allegations against much hyped case of Uber that led to two important investigations with twenty dismissals and the current resignation of Uber executive in previous or last harassment allegations. In the recent time, the companys investigation has mainly aimed on company board members to deal with claims that were toxic for the companys culture. The case was gone out of hand, the executive got fired for completely mishandling the reports from medical department of the woman who was raped by the employees of the company. The chi ef executive of the company directly came under much scrutiny along with board of directors debating a leave of absence for three months. In another case in Silicon Valley, a company called Upload VR which is San Francisco based company for virtual reality was sued claiming of sexual harassment at workplace which led to unbearable culture for female workforce and thus the lawsuit was filed against them. It was also claimed by victim that the treatment was systematically prejudiced towards females staff and disregard for the overall safety of the workforce (Whyte, 2017). The culture of the company was defined as hostile for female staff in the year 2013 when she specifically joined the organization as a manufacturing engineer where she was also paid less in comparison of male counterparts who work she took over. In addition, whenever there were meetings she used to be the only female employees among forty and fifty men. In fact, all chief executive was positioned at the company were held by male members and out of approx. thirty vice presidents only two were women. In addition, in Silicon Valley, the overall average of tech based board of director of company is just eleven percent female (Lam, 2012). Description of the ways to deal with the issue Being assertive and persistent is the most important thing to do and it is also important to note aggressive approach will not help at all. There are number of women in technology company that are pretty used to holding minority status at work. However, it doesnt make them the only female among many male members any better. There are so many times when there is only one women member in the room and when notice a pattern of male colleagues evaluating the female members every move and actions (Reagle, 2012). In this kind of situation, one can feel to be in a catch 22 case and it is difficult to decide the action. In case of fighting back, one might see an extra sensitive or shrill side but in case of no action, one could come off as a weak gender. As per the recent research women with certain masculine traits like high self-confidence are perceived as more competent then any set standard of feminine women. However, they can also be taken as a less socially skilled and thus further suff er a backlash kind of impact. Conclusion It is a challenging time for females in technology sector. In fact, women employees are choosing out of the technology industry work, an element blamed as a part of the industry based pattern of sexism. As per the recent study in Talent innovation, the study says the women in science, technology and engineering are forty five percent more likely than male members to entirely leave the work or the industry (Prescott Bogg, 2011). There are number of reasons discussed above, some says it is a feeling of being stalled in the career graph or completely excluded from the workplace based culture or the whopping half which claims that workers believes that men have an advantage in science or another subject. Reference Campos-Soria, J. A., Marchante-Mera, A., Ropero-Garca, M. A. (2011). Patterns of occupational segregation by gender in the hospitality industry.International Journal of Hospitality Management,30(1), 91-102. Collins, D. (2011).Business ethics: How to design and manage ethical organizations. John Wiley Sons. Lam, A. C. (2012).Women and Japanese management: discrimination and reform. Routledge. Nadal, K. L., Davidoff, K. C., Fujii-Doe, W. (2014). Transgender women and the sex work industry: Roots in systemic, institutional, and interpersonal discrimination.Journal of Trauma Dissociation,15(2), 169-183. Prescott, J., Bogg, J. (2011). Segregation in a male-dominated industry: Women working in the computer games industry.International Journal of Gender, Science and Technology,3(1). Reagle, J. (2012). Free as in sexist? Free culture and the gender gap.first monday,18(1). Webster, J. (2014).Shaping women's work: Gender, employment and information technology. Routledge. Whittaker, A. M. (2011). Reproduction opportunists in the new global sex trade: PGD and non-medical sex selection.Reproductive biomedicine online,23(5), 609-617. Whyte, J. (2017).Girls into science and technology: The story of a project. Taylor Francis. Wright, D. (2011). A framework for the ethical impact assessment of information technology.Ethics and information technology,13(3), 199-226.
Sunday, March 22, 2020
Why We Should Not Fight The Mexicans Essays -
Why We Should Not Fight The Mexicans War with Mexico will destroy us yet. Fighting with them will set a burden on us as well as on them. We are fighting with them for the say reason; England was fighting with us. England fought us because we would not follow the laws that they passed, and we want to fight the Mexicans because they dont want to give us the land that we want. In some way you could call this being hypocritical. Annexing Texas was the dumbest mistake we ever made; it will upset our balance of beliefs. Even though Mexico is our adversary, so was England, what if one day we want to trade with Mexico. Do you think that they would want to trade with us? No, we will become the country that pushed them down when they were already weak enough as it is, and the War will terminate ever having Mexico as an ally/ If we fight Mexico then we are being hypocrites, of what we fought for when we went against England. We are treating them as if they belong to us; they are there own country. We are forcing them to give us something that is rightfully theirs. Mexico is a weak country and we are a strong country. For example, in the Revolutionary War the odds were against us, the British were strong and we were weak. They came into our territory thinking they could push us over, but it turned out just the opposite. The same thing could happen here, they outnumber us by far, but yet we are better skilled and trained. But they have the same chance of winning as we do. If we win, what will become of us? Will we turn into a greedy anarchy just as England, acting as a authoritarian that will make War with anyone who steps in our way. We are a very strong country we dont need more land, we are barely using up the land we have now. Instead of conquering we need to focus on the things that we need most, like working on giving our less fortunate children a better education, and fix up the working conditions. The annexation of Texas is the dumbest decision congress has ever made. Sooner or later the issue over whether it should be a free state or slave with come up. We have a balance of thirteen free states and thirteen slave, and adding Texas in there will upset the balance. Henry Clay said in his letter to the Editors of the National Intelligence that Annexation would be to proclaim to the world an insatiable and unquenchable thirst for foreign conquest or acquisition of territory. For if today Texas be acquired to strengthen one part of the confederacy, tomorrow Canada may be required to add strength to another. Finally, the part of the confederacy which is now weakest, would find itself still weaker from the impossibility of securing new territory for those peculiar institutions (slavery) which it is charged with being desirous to extend.... Which means that Texas could cause controversy within the US. As of now slavery cannot be mentioned in Congress without men arguing, and starting a fight. War will kill any future trade with Mexico. One day we are going to want something the Mexicans have. Such as fruit, gold, or other raw materials, that we may want. Most likely they will not want to give it to us. Are we going to fight with them over that? They have every right to not trade with us. We show up in their country bullying them around. In the end, we might go to war, we will force them to sell their land that they acquired form their own revolution. Not only will it cause internal trouble for use. It will weaken our already weak relationship between Mexico and us. History Essays
Thursday, March 5, 2020
Plea Bargaining essays
Plea Bargaining essays Plea Bargaining a Vastly Used Concept It all starts with backed up courtrooms. A man is charged with killing another man. There is no evidence to convict this man of these charges. This leads the prosecutors to work out a plea-bargain. The pressure of other cases and the need for a guilty charge is what leads plea-bargaining to happen more every year. As a result many criminals get off easy and in return prosecutors look good for winning the case. The practice of plea-bargaining is a controversial issue that both benefit the court and the criminal. Plea-bargaining was not always wide spread throughout the court system. Today it is a main practice for prosecutors to put away criminals, even if it is for lesser charges. Plea-bargains happen for many reasons and are beneficiary and negative to everyone involved the process. The reasons why plea-bargaining is used so much range from the accused to the prosecutors. This practice is usually used because courts these days are over run with cases and cannot provide trials. More the 90% of convictions come from negotiated pleas, which means less then 10% of criminal cases result in a trial,(Plea Bargain 1). This happens frequently because prosecutors want to get the guilty verdict. Most criminals want to plea-bargain knowing they will receive an easier sentence even though they might be guilty and deserve more. Plea bargains provide both prosecutor and defense with some control over the result,(Maynard 145). This quote is exactly why so many cases are being decided by the plea-bargaining strategy. Another reason why this is so commonly used is that there are not enough courts in any state to provide everyone a fair and speedy trial. Something must be worked out and guilty pleas can be worked out in hours, compared to trials, which can sometimes last weeks. Even though many are opposed to the plea-bargaining that goes on in todays courts, there ...
Tuesday, February 18, 2020
Human Law and Conscience Essay Example | Topics and Well Written Essays - 750 words
Human Law and Conscience - Essay Example This research will begin with the statement that conscience can be regarded as a set of moral convictions arising from traditional and spiritual beliefs, which is invoked and defined by the individual himself. Unlike the structural Human Laws, which includes both the civil laws and ecclesiastical laws, conscience is a subjective concept that holds the possibility of implicating total sovereignty over these human laws. Most importantly, the value of human conscience has a direct influence on the individualââ¬â¢s expression of denial or compliance with the human laws. However, the conflict between this individual conscience and human laws is inevitable. Exercising oneââ¬â¢s own conscience by involving or refusing to the government that enforces unfair policies is one of the primary right and obligation for any citizen to act upon. There are many scholars and theorists who express the civil disobedience in the light of human conscience. Civil disobedience can be regarded as a nece ssary expression of human conscience and morality towards unjust laws. The concept of the right to resistance has a significant importance when the government policies turn out to be unjust or immortal towards the society. This would help in reconfiguring the laws of the State to make it more equitable and less onerous towards its treatment of the community as a whole. According to Henry David Thoreau, the morality of individual acts can possibly outweigh the consequences of civil disobedience against the severity of the injustice. It can be asserted that acting on civil disobedience does not undermine the power of democracy but it reinforces the values of liberty and deference. In circumstances when the human laws or government policies become an intrusive power, stifling the peopleââ¬â¢s rights, civil disobedience is acceptable by all means that would recognize the freedom of every individual. Fighting against inequality within a community has to be witnessed through the inborn , unwritten law of oneââ¬â¢s conscience rather than inferring from the human laws that actually created it in the first place.
Monday, February 3, 2020
Dissertation - Can an organisation's growth be restricted Essay
Dissertation - Can an organisation's growth be restricted (constrained) by its recruitment policies, employee motivation or is it other factors - Essay Example For this reason, there is a strong need to determine the best way to increase the work motivation of the older generation employees. For this study, the researcher aims to determine whether the organizationââ¬â¢s growth be restricted by its recruitment policies and employment motivation strategies on workers more than 50 years of age. To address the purpose of the study, the researcher will first conduct a literature review on organizational culture, work equality, importance of work flexibility and work-life balance, and the current employment law with regards to the pension age. Eventually, the researcher will conduct a quantitative and qualitative research survey among employees more than 50 years old. Organizational culture refers to ââ¬Å"a set of norms, beliefs, principles and behaviour that gives the organization a unique character.â⬠(Brown, 1995) It is also defined as ââ¬Å"a pattern of behaviour developed by an organization to cope with problems related to external adaptation and internal integration aside from enabling the employees to feel and think positively.â⬠David (1999: 143) Organizational culture is a paradigm which is often developed by employees within the organization. Over time, organizational culture forms a strong set of behavioural patterns and belief that could greatly affect the perception of employees with regards to its organizational goals and success. (Willcoxson & Millett, 2000) In fact, organization culture could greatly influence not only the success of the organization in terms of attaining its organizational goals but also its current performance. (DuBrin, 2002; David, 1999; Robbins, 1998) In order to effectively develop a strong organizational culture, managers play an important role when it comes to determining and implementing an acceptable organizational culture that promotes employeesââ¬â¢ loyalty as well as motivating them to participate in supporting the effort on attaining the organizational goal
Sunday, January 26, 2020
Impact of Technology on Trade
Impact of Technology on Trade Technology plays a crucial role in the development of countries. It is very important both for developed countries and developing countries as technology progress will enable countries to be more competitive in the global market. Thus progress in technology helps countries to develop the economy and strengthens their trading positions in the competitive global market (Sabir, 2010). With the development of technology, high-tech products will become the major players in international trade. The traditional primary products and ordinary manufacturing goods will account for less in the international trade business than before. In order to illustrate the impact of technology on trade and development for the country, this essay will take South Korea, a developed country and the Samsung products as example to analyze the way the technology influences the countrys development and its trade. Technology development in South Korea The development of technology can decide the future of the country in terms of its economy growth and its position in the international community. South Korea, as all we know, is a lively example in the technology research and development. Forty years ago, South Korea was still a laggard agricultural country and was empty in science technology fields. However, during 40 years endeavor, South Korea has made outstanding performance and achievements in the technology development. Its innovation capability is improved a lot and the distance to developed countries regarding the technology aspect is becoming closer. Since 1970s and 1980s, the science technology policies of South Korea have been gradually shifted from introduction imitation model to self-development and innovation (Viotti, 2002). Therefore, since then, high-tech projects, such as sophisticated electronics, new materials, semiconductors, precision chemistry etc. have been developed rapidly in South Korea. That Semi-conduc tors enterprises, such as Samsung, can successfully compete in the international semiconductor market can not separate from the independent technological innovation. Thanks to the technology progress, South Korea has made great development in economy. As we know, economy and technology are two essentials which can not be separated from each other for the country. The progress of technology will promote the development of the countrys economy, meanwhile, economy growth will enable the country more capital to the technology research. From the experience of developed countries, their fast development in economy can not be separated from their progress in technology. Technology is becoming the core for the developed countries (Hausmann and Rodrik, 2003). Impact of technology on trade and economy growth Economic development of South Korea started in 1950s and achieved a take-off in economy growth in 1960s. In the initial stage, South Korea applied inward economy growth strategy; however, since 1962 the country began to implement an export-oriented economy development strategy. South Korea is severely dependent on the external markets since its internal market is very limited. The country is highly focused on the export business to create foreign exchange and import the scarce resources. With the development in high-technology fields, South Korea has realized to increase the exports of the high-tech products which have successfully contributed to a rapid economic growth for the country. South Korea has achieved a considerable growth in its GNP from 87 USD in 1962 to 10 936 USD in 2001. This is close to the highly-developed countries. Among the exporting volumes, the high-tech products are increasing year by year. In 1988, the high-tech products accounted for 15.97% of the total expor ting volume. In 1999, the high-tech products reached to 32.2% (Kwon, 2010). The progress in technology has greatly helped South Korea in achieving good result in the global trade market and resulted in a great growth in GDP and its overall economy. Samsung Electronic is a typical successful example in the research and development of technology for South Korea or even for the whole Asian countries. Many technological and electronic manufacturers in Asian countries are trying to learning from Samsung Company. Samsung Electronic Company has made great contribution to South Koreas economic development. Samsung has got its white goods and other products such as mobile phones famous in the global marketplace. In 2000, the export amount of Samsung Electronic has reached to 18.6 billion US dollars which accounted for 11 percent of the total exporting value. In 2004, Samsung has made a breakthrough of 50 billion US dollars of exporting value and accounted for 21% of the total export value in South Korea (Kang and Jin, 2006). The reason why Samsung products can take a great market share in the global trade market is highly dependent on the technology progress. Take Samsung mobile phone as example, with the continuous innovation and progr ess made in the technological field, Samsung mobile phone is now become one of the leading mobile brands in the world. It has already posed a threat to Nokia and Motorolas leading positions in the global mobile phone market (Uimonen, 2000). Facing the fierce competition environment in the global mobile phone market, Samsung mobile phone maintains its strategy to position high-end products for the people with certain consuming capability. High-end products need high-technology to support and continuous improvement in the technology innovation to maintain the high price. Therefore, Samsung never stops its technology research and contributes considerable amount of money into new technology research and innovation every year. Besides the mobile phone area, Samsung is also making efforts to expand its other electronic products with high technology, such as TV, LED, refrigerator, and other white goods in the global markets (Bonaglia, Goldstein and Mathews, 2007). Of course, China is its l argest trading partner and Samsung products have covered a relatively large market share in China. Conclusion In conclusion, technology progress is the major power and source to speed up the development of the social economy for a country. Nowadays, as peace and development are the major theme for the international communities, high-technology is attached great importance in boosting the economy growth for a country. At the same time, under the globalization trend, the development of technology will help the country to be more competitive in the global trade market thus to boost the countrys economy development.
Saturday, January 18, 2020
Example of Leadership Essay
From the Forbesââ¬â¢ article ââ¬Å"Leadership Lessons from Admiral Michelle Howard, The Highest Ranking Woman in Naval Historyâ⬠, written by Kathryn Dill, tells the history of the four-star admiral and Vice Chief of Naval Operations, the second highest position in the Navy, Michelle Howard and how she became the first American woman to get this position. It is all about her leadership. The first aspect that she points out is about innovation. She takes the example of outside companies and does not have fear to make changes. She says: ââ¬Å"Thereââ¬â¢s great ideas out thereââ¬âitââ¬â¢s having the courage to go ask people about what theyââ¬â¢re doing thatââ¬â¢s different, and saying, ââ¬ËI wonder how I could apply that to my organization.ââ¬â¢Ã¢â¬ It is important to all organizations keep changing. She has an envision of the future and because of her way to manage her team, it will be always better, by experimenting and learning from those changes. Moreover, she encourages creativity and ââ¬Å"creates an environment where employees can meet personal goals and theyââ¬â¢ll strive that much harder for the professional ones.â⬠It is clear that she wants everyone to share the same vision and seek their goals, even the professional or the personal ones. Doing this, she encourages their hearts joining their livesââ¬â¢ purposes. At last, she is a great example for her co-workers. She is a great leader who behaves and work in a consistent way. Furthermore, she is strong and brave. Someone who people could trust. Work Cited Dill, Kathryn. ââ¬Å"Leadership Lessons From Admiral Michelle Howard, The Highest RankingWoman In Naval History.â⬠Forbes. Forbes Magazine, 1 July 2014. Web. 23July 2014. <http://www.forbes.com/sites/kathryndill/2014/07/01/leadership-lessons-from-admiral-michelle-howard-the-highest-ranking-woman-in-naval-history/&
Friday, January 10, 2020
Test Bank Ch8 3616 Butler
PART IV Managing the Risks of Multinational Operations Chapter 9 The Rationale for Hedging Currency Risk True/False 1. In a perfect financial market, financial contracts are zero-NPV investments. ANS: True. 2. If hedging currency risk is to add value to the stakeholders of the firm, then hedging must impact either expected future cash flows or the cost of capital or both. ANS: True. 3. If financial markets are informationally efficient, then corporate financial policy is irrelevant. ANS: False. Donââ¬â¢t confuse informational efficiency with a perfect market.Although the perfect market conditions ensure informational efficiency, informationally efficient markets can be imperfect. 4. Perfect financial markets are a necessary condition for corporate risk hedging to have value. ANS: False. Market imperfections are necessary conditions. 5. In perfect financial markets, corporate financial policy is irrelevant. ANS: True. 6. In a perfect financial market, the law of one price holds. AN S: True. 7. Equal access to perfect financial markets ensures that individual investors can replicate any financial action that the firm can take. ANS: True. 8.In perfect financial markets, corporate hedging policy has no value. ANS: True. 9. In perfect financial markets, corporate investment policy is irrelevant. ANS: False. Firm value depends entirely on the firmââ¬â¢s investments in a perfect financial market. 10. If corporate financial policy is to have value, then at least one of the perfect market assumptions cannot hold. ANS: True. 11. Real-world financial markets are perfect markets. ANS: False. Perfect markets are a theoretical ideal and not a practical reality. 12. Market imperfections are greater across national boundaries than within national boundaries.ANS: True. 13. In perfect financial markets, multinational corporations have an advantage over domestic firms in financing their investments. ANS: False. The law of one price holds in perfect financial markets. 14. Mul tinationals have a comparative advantage over domestic firms in exploiting cross-border differences in financial markets. ANS: True. 15. Progressive taxation is a system in which larger taxable incomes receive a higher tax rate. ANS: True. 16. Tax preference items are goods that are sold on a tax-free basis. ANS: False.Tax preference items are items such as tax loss carryforwards and carrybacks and investment tax credits that are used to shield corporate taxable income from taxes. 17. A call option is an option to buy an underlying asset at a predetermined price. ANS: True. 18. A call option is an option to ââ¬Å"call inâ⬠or demand payment on a loan. ANS: False. A call option is an option to buy an underlying asset at a predetermined price. 19. Indirect financial distress costs are relatively unimportant for firms selling products for which quality and after-sale service are important.ANS: False. Reputation is easily eroded in these instances. 20. Managerial gamesmanship is l east prevalent during financial distress. ANS: False. Gamesmanship is more prevalent during hard times. 21. Option values increase with an increase in the volatility of the underlying asset. ANS: True. 22. A decrease in the variability of firm value is good news for debt and bad news for the equity call option, other things held constant. ANS: True. 23. Corporate hedging of business risk unambiguously increases shareholder wealth when the firm is in financial distress. ANS: False.Because debtholders have first claim on corporate assets, corporate hedging of business risk helps debtholders first and may or may not help equityholders. 24. In the real world, corporate hedging policy can change expected future cash flows but is unlikely to reduce the cost of debt. ANS: False. Hedging policy can decrease the variability of firm value and can thus reduce the risk of debt and the required return charged by debtholders. 25. Direct costs of financial distress are far more important to corpor ate hedging decisions than are indirect costs. ANS: False.The indirect costs of financial distress influence the activities of firms not just in bankruptcy but prior to bankruptcy as well. 26. Underinvestment occurs when debtholders refuse to invest additional capital into the firm during financial distress. ANS: False. Underinvestment occurs when equity foregoes positive-NPV investments. 27. In financial distress, equity has an incentive to take on large risks in order to increase the value of the equity call option. ANS: True. 28. In Miller-Modiglianiââ¬â¢s perfect world, the firmââ¬â¢s optimal investment criterion is ââ¬Å"Accept all positive-NPV projects. ANS: True. 29. In practice, managementââ¬â¢s objective is to maximize shareholder wealth. ANS: False. Managers act nominally as equityââ¬â¢s agents but, in actuality, in their own best interests. 30. Managers have little incentive to hedge company-specific risks. ANS: False. As undiversified stakeholders, managers are concerned with both systematic and unsystematic risk. 31. Managers have an incentive to hedge their unitââ¬â¢s transaction exposure to currency risk. ANS: True. 32. Hedging can increase firm value by reducing the costs of agency conflicts between managers and shareholders.ANS: True. 33. Exchange-traded options and futures contracts have a fixed cost per contract so that costs are proportional to the number of contracts traded. ANS: True. 34. The costs of hedging through operations are likely to be less burdensome for a large multinational corporation with diversified operations than for a small, less-diversified firm. ANS: True. Multiple Choice 1. The perfect market assumptions include each of the following except ____. a. equal access to market prices b. equal access to costless information c. frictionless markets d. rational investors e. table governments ANS: E 2. Frictionless financial markets could have which of the following? a. agency costs b. bid-ask spreads c. broker age fees d. government intervention e. irrational investors ANS: E 3. Which risk management guidelines in a) through d) is not recommended by the Group of Thirty Global Derivatives Study Group? a. assess the credit risk arising from derivatives activities b. combine authority over trading and bookkeeping functions into a single department c. quantify market risk under adverse market conditions and perform stress tests d. alue derivatives positions at market e. all of the above are recommended ANS: B 4. Which of a) through d) is unlikely to result in a decision to hedge currency risk? a. bid-ask spreads on foreign exchange b. costs of financial distress c. differential taxes on income from different tax jurisdictions d. stakeholder game-playing e. all of the above are incentives to hedge ANS:A 5. Which of the following factors does not contribute to tax schedule convexity? a. Alternative Minimum Tax (AMT) rules in the United States b. progressive taxation c. sales taxes d. ax prefere nce items e. all of the above contribute to tax schedule convexity ANS: C 6. Indirect costs of financial distress impact the firm in each of the following ways except ____. a. higher financial costs b. higher legal costs in bankruptcy c. higher operating costs d. lower revenues e. stakeholder gamesmanship ANS: B 7. Which of statements a) through c) regarding costs of financial distress is false? a. Both debt and equity unambiguously benefit from corporate risk hedging. b. Hedging can increase expected cash flows by reducing the costs of financial distress. c.Hedging can reduce debtholdersââ¬â¢ required return and hence the cost of capital to the firm. d. All of the above are ANS: True. e. None of the above are ANS: True. ANS: A 8. Which of the following was most responsible for the collapse of Barings Bank? a. bankruptcy proceedings b. failure to monitor the activities of its traders c. index arbitrage d. index futures and options trading e. the 1991 fall in share prices on the T okyo stock exchange ANS: B 9. Management has an incentive to hedge which of the following exposures? a. operating exposure b. transaction exposure c. ranslation (accounting) exposure d. all of the above e. none of the above ANS: D 10. Tax schedules are said to be progressive when ____. a. the effective tax rate is greater at high levels of taxable income than at low levels b. the effective tax rate is greater at low levels of taxable income than at high levels c. they do not discriminate on the basis of race, creed, or color d. when tax rates vary by the age of the taxpayer e. none of the above ANS: A Problems 1. In what way is equity a call option on firm value? Tax schedule convexity: progressive taxation 2.Suppose corporate income up to $250,000 is taxed at a rate of 25 percent. Income over $250,000 is taxed at 40 percent. The taxable income of Quack Poultry will be either $200,000 or $300,000 with equal probability. Quackââ¬â¢s income variability arises entirely from an expos ure to currency risk. a. Draw a graph like Figure 9. 2 depicting tax schedule convexity in the United States. b. What is Quackââ¬â¢s expected tax liability if it does not hedge its currency risk? c. What is Quackââ¬â¢s expected tax liability if it is able to completely hedge its currency risk exposure and lock in taxable income of $250,000 with certainty? . In what way does hedging have value for Quack Poultry? Direct and indirect costs of financial distress 3. A firm based in the United Kingdom has promised to pay bondholders ? 10,000 in one year. The firm will be worth either ? 9,000 or ? 19,000 with equal probability at that time depending on the value of the dollar. The firm will be worth ? 14,000 if it hedges against currency risk. a. Identify the values of debt and equity under unhedged and hedged scenarios assuming there are no costs of financial distress. b. Suppose the firm will incur direct bankruptcy costs of ? ,000 in bankruptcy. Identify the value of debt and of e quity under both unhedged and hedged scenarios. c. In addition to the ? 1,000 direct bankruptcy cost, suppose indirect costs reduce the asset value of the firm to either ? 6,000 or ? 18,000 (before the ? 1,000 direct bankruptcy cost) with equal probability. Hedging results in firm value of ? 12,000 with certainty. Identify the value of debt and of equity under both unhedged and hedged scenarios. d. Can hedging add value to shareholders in this problem? Problem Solutions 1.If the firmââ¬â¢s assets are worth more than that promised to debtholders, equity will exercise its option to buy the assets of the firm from the debtholders at the exercise price. If firm assets are worth less than the promised claim, equity will not exercise its option and debt assumes control of the firm. Tax schedule convexity: progressive taxation 2. a. [pic] b. Expected taxes with no hedging: (? )[($200,000)(0. 25)] + (? )[($250,000)(0. 25)+($50,000)(0. 40)] = (? )($50,000) + (? )($82,500) = $66,250. c. Ex pected taxes with hedging: ($250,000)(0. 5) = $62,500 < $66,250. d. Hedging allows Quack to minimize its expected tax liability. This increase in expected future cash flows to equity results in an increase in equity value. 3. a. If firm value is ? 9,000, equity will not exercise its option to buy the firm at a price of ? 10,000. In this case, equity receives nothing and debt receives ? 9,000. If the firm is worth ? 19,000, equity pays the bondholders ? 10,000 and retains the residual ? 9,000. Firm value can be broken down into E[VFIRM] = E[VBONDS] + E[STOCK] = [(? )(? 9,000)+(? )(? 10,000)] + [(? )(? 0)+(? (? 9,000)] = ? 9,500 + ? 4,500 = ? 14,000. Hedged, firm value can be broken down into VFIRM = VBONDS + VSTOCK = ? 10,000 + ? 14,000 = ? 14,000. In the absence of costs of financial distress, the reduction in the variability of firm value results in a reduction in call option value and a ?500 shift in value from equity to debt. b. Unhedged, firm value is decomposed as: E[VFIRM] = E [VBONDS] + E[STOCK] = [(? )(? 9,000 1,000)+(? )(? 10,000)] + [(? )(? 0)+(? )(? 9,000)] = ? 9,000 + ? 4,500 = ? 13,500. With hedging, VFIRM = VBONDS + VSTOCK = ? 10,000 + ? 4,000 = ? 14,000.As in the previous example, the reduction in the variability of firm value is accompanied by a ? 500 transfer of wealth from equity to debt. Hedging also avoids the deadweight ? 1,000 bankruptcy cost and yields an expected gain of (? )(? 1,000) = ? 500. In this example, debt captures the expected gain of ? 500. Equity will capture some of the gain if hedging results in lower interest payments on the next round of debt. c. Unhedged, firm value is E[VFIRM] = E[VBONDS] + E[STOCK] = [(? )(? 6,000 1,000) + (? )(? 10,000)] + [(? )(? 0)+(? )(? 8,000)] = ? 7,500 + ? 4,000 = ? 11,500.If the firm hedges, then VFIRM = VBONDS + VSTOCK = ? 10,000 + ? 2,000 = ? 12,000. This is the same as b) after including indirect costs of financial distress with an expected value of [(? )(? 9,000 6,000)+(? )(? 19,000 18,000) ] = ? 1,500+? 500 = ? 2,000. d. Hedging can add value to shareholders if they can negotiate lower interest payments on debt because of their hedging policies. Even in financial distress, equity could offer to renegotiate the bond contract to more evenly share the gain in firm value from hedging. In this way, they can share in any gain from reducing the probability and costs of financial distress.
Thursday, January 2, 2020
Persuasive Speech John Smalls - 1294 Words
SPEECH 1311 PERSUASIVE ASSIGNMENT Behavioral Objective: Each student will deliver a 4 to 6 minute speech with the purpose to inform and PERSUADE their audience. Topic Selection: Each student will choose their own topic. The topic must be a SOCIAL TWO SIDED ISSUE. The student will select ONE SIDE of the issue to support and convince their audience to TAKE ACTION. See page three for possible topics. Assignments: ONE PAGE SUMMARY. Each student will submit a one page summary that includes the following: 1. their topic choice. 2. The side they will support. 3. A paragraph of WHY they support that side of the issue and how they are going to convince the audience to make a change. Also included in the one page summationâ⬠¦show more contentâ⬠¦All workers must wear sanitary scrubs that are provided each morning and left at the hospital at the end of the day. If a physician, nurse, or worker leaves the hospital they must change into a new scrub on return. Strict procedures must be maintained when using needles, bandages, and medical tools. All must be sanitized with steam that reaches 400 degrees F. Finally hand washing for ALL personal staff is required after eating, using the restroom, and in between working with patients. ADVANTAGES: According to the AMA in their JAMMA publication Spring 2009 following procedures like the ones I mentioned will result in a 70% reduction of illness and save over 45,000 lives each year. CALL TO ACTION: Summary: Today I have informed you of a problem that faces us all if we are hospitalized. First I showed you the significance of the problem; secondly a plan that will solve the problem; third advantages of the plan and now Iââ¬â¢m going to tell you what you can do. First, we need to change laws and develop penalties for hospitals that have a high rate of patients who contract illness when in their care. Hospitals who have more than a 15% rate of return patients will lose their state and federal funding. These laws can only be changed if we contact our elected officials. I am going to provide you with a list of your congressmen and women who vote for federal and state allowances to our public hospitals. Secondly, we need to change the freedom of informationShow MoreRelatedAnalysis Of Barack Obama s Speech1167 Words à |à 5 PagesOutline: Introduction: In his 2004 speech, Barack Obama stated ââ¬Å"I stand here knowing that my story is part of the larger American story, that I owe a debt to all of those who came before me, and that, in no other country on earth, is my story even possible.â⬠This quote embodiesâ⬠¦ It was meant to showâ⬠¦ The main idea guiding Obamaââ¬â¢s speech is giving back to those who gave to you. More specifically, he wants the American people to elect John Kerry for president, as John carry embodies this goal to him.Read MoreAnalysis Of Speech At The March On Washington1146 Words à |à 5 Pagesââ¬â¢Ã¢â¬ declares John Lewis. 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