Tourism's Social, Cultural, and Ecological Impact Essay

Tourism's Social, Cultural, and Ecological Impact - Essay Example There can be no doubt that when an area is opened up for tourism that there will be significant changes. Tourism, while stimulating the economy, places the social order, the cultural values, and the ecology of the area at great risk. The social structure of a tourist area will change dramatically as the enterprise matures. A study on North Cape Norway by Gerald (2005, p.48) found that the seasonal nature of the employment opportunities attracted in-migration to the area during the peak season, as well as an out-migration of young people dissatisfied with the "employment prospects offered by seasonal tourism". One respondent to the study noted the personal change that takes place and reported that contact with the tourists caused her to, "become someone ... something you're not. Without knowing it consciously, and it just seems like you are so cosmopolitan, so sophisticated" (Gjerald 2005, p.49). When we add in the factors of stressing the infrastructure, changes in local politics, and the loss of existing social networks the social change is substantial. While the social order is at risk of great change, cultural traditions and values may all but disappear. Tourist destinations are often modeled on the tourist it intends to attract, while the local culture is placed on display as an oddity. The islands of Aruba and Barbuda are, "exemplified by the dominance of large scale resorts, convention trade, and the increasing prevalence of manmade attractions like shopping, gambling, and cruise traffic" (Thomas, Pigozzi, & Sambrook 2005, p.19). In addition, Gerald (2005, p.50) reports a modest increase in drugs, alcohol use, theft, and sexual assault in the North Cape Norway area. Meanwhile, local customs and traditions are relegated to be a display for the tourists, rather than have any meaningful cultural value.

Quality Improvement Plan Essay Example for Free

Quality Improvement Plan Essay Executive Summary Todays educational system is becoming increasingly competitive for both students and institutions. Total quality management is an approach that seeks to improve quality and performance in an organizations operations. It looks at the overall quality measures including managing the quality design and development as well as quality maintenance and improvement. In addition, it takes into account all quality measures at all levels especially for students. Because of quality management we were able to comprehend and seek solution to the problems regarding the uniform policy. We were able to visualize the outcome of our proposal if this could be implemented. I. PROBLEM STATEMENT The following quality issues noted during the actual observation in the standard policy of uniform at Far Eastern University – Business Center: Quality Problem 1: What will be the appropriate actions necessary to enhance the quality improvement of the university’s standard policy regarding its uniform? Quality Problem 2: How will the University encourage the students to comply with the said standards? Quality Problem 3: How will the FEU improve student awareness and obedience with respect to the implemented rules about uniform? Quality Problem 4: How will the university achieve consistency with regards to the rules implemented about the required uniform? Quality Problem 5: What will be the corrective actions needed to stop the piracy of university uniform by external sewers or producers? II. QUALITY TOOL Fishbone Diagram III. ROOT CAUSE OF THE PROBLEM Based on the cause-and-effect diagram (fish bone diagram) we noted the following attributions to the observed quality problem: MANPOWER a. What b. Went c. Wrong MATERIAL a. What b. Went c. Wrong MACHINE a. What b. Went c. Wrong METHODS a. What b. Went c. Wrong MOTHER NATURE a. What b. Went c. Wrong IV.RECOMMENDATION AND BENEFITS Recommendations Benefits 1. The FEU should develop only one standard uniform for both female and male students. (implementation of this matter will be discussed in the next sub heading) This will prevent confusion in identifying FEU students and regulate fair presentation that unity exists in our school. 2. The FEU should provide an orientation per institute before the start of class concerning the guidelines for proper wearing of uniform w/ corresponding punishment for students of non-compliance with uniform policy. (Ex: standard length of girl’s skirts, wearing of rubber shoes, etc.) Specifically, female students are benefited with this in terms of eliminating the erroneous reputation for it will provide pleasing impression to them but it will also promote good character of the school. 3. FEU’s student council per institute should effectively disseminate the new implemented uniform policy approved by the Institute’s Deans and considering enough time for the students to be prepared. Announcing personally increases student’s adherence to the policy and prevents student complaints of information from unreliable sources. 4. All of the said recommendations above would be crucial to maintain so we recommend that FEU should have its own official Tailoring Shop inside the school. Student accessibility and convenience, consistency, less costly service, and prevents delays. V.IMPLEMENTATION PLAN AND BUDGET VI. APPENDICES A. GLOSSARY Logistics – refers to the process of planning, implementing, and controlling the efficient, effective flow and storage of goods, services, and related information from point of origin to point of consumption for the purpose of conforming to customer requirements. Note that this definition includes inbound, outbound, internal, and external movements, and return of materials for environmental purposes. Process – refers Quality – refers Standard – refers System – refers B. QUALITY FORMS Paste the scanned form (existing and the proposed form to be used) C. REFERENCES ISO 9001:2000, 4.2.2 – Control of Documents ISO 9001:2000, 4.2.3 – Control of Records ISO 9001:2000, 5.1 – Management Commitment ISO 9001:2000, 5.2 – Customer Focus ISO 9001:2000, 5.4 – Planning ISO 9001:2000, 6.0 – Resource Management ISO 9001:2000, 6.1 – Provision of Resources ISO 9001:2000, 6.2.2 – Competence, Awareness and training ISO 9001:2000, 6.3 – Infrastructure ISO 9001:2000, 6.4 – Work environment ISO 9001:2000, 7.4 – Customer-related processes, 7.2.1, 7.2.2. 7.2.3 ISO 9001:2000, 7.5.3 – Identification and traceability Council of Logistics Management, http://www.clm1.org/mission.html, 12 Feb 98) http://www.logisticsworld.com/logistics.htm

Preschool Education in The United States Essay example -- Education

Preschool programs began in the United States during the first quarter of the twentieth century. In 1925, the first public preschool began in Chicago at Franklin School. After the 1970’s the popularity of preschool increased since women were entering the workforce and people believed that children needed early preparation before they attended elementary school. Barbara Wiler, Ph.D., deputy executive director of the NAEYC says, â€Å"Good Preschools provide children with rich experiences that give them skills, information, and attitudes that prepare them for the primary grades and for life. † (WKRLIP, P1) Preschool isn’t like kindergarten. It’s a stepping-stone that will prepare young students for the years of schooling they will have later in life. The NAEYC Accreditation was made to help families find the best care for their children. It provides the early childhood education field with a convincing outcome and ensures the quality in children’s daily experiences. Early Childhood Education plays a key role in academic development in children because they learn soft skills, job skills, and are personality fixed by age 4. Soft skills include paying attention, focusing, being curious, open to new experiences and controlling your temper. These skills are important in getting a job. It can help children become more self motivated and open minded. As they grow older it will benefit them because they will be willing to take risks, be able to retain information that they learned and have the urge to experience new things. When they can’t do something right, they will ask and try to fix any imperfections that they once had. These skills are not taught in other areas of schooling. Preschool is the most important grade that p... ...2/139583385/preschool-the-best-job-training-program. Barnett, W. Steven., and Hustedt, Jason T. Preschool: The Most Important Grade. Educational Leadership Apr2003, Vol.60 Issue 7, p54, 4p, 1 Color Photograph. October 31, 2011. http://web.ebscohost.com. Ames, Gillespie., and Haines, Jacqueline., The Gesell Institute’s Child from One to Six: Evaluating the Behavior of the Preschool Child, October 20, 2011. P30,40-41 NAEYC. August 17, 2011. NAEYC Early Childhood Education Program Standards and Accreditation Criteria. P5, 7-8. Personality Development: Age 2-6. September 1, 2011. P1-2. http://www.cliffsnotes.com/study_guide/Personality-Development-Age-26.topicArticleId-26831,articleId-26775.html. What Kids Really Learn in Preschool. Parenting; Fall99 Special issue, Vol. 13 Issue 7, p74, 4p, 3 Color Photographs. October 31, 2011. http://web.ebscohost.com.

Credit Card Debt In America Essays -- Economics Analysis Debt Credit C

Credit card debt is one of this nation’s leading internal problems. When credit was first introduced, and up until around the late 1970’s, the standards for getting a credit card were very high. The bar got lowered and lowered to where, eventually, an 18 year-old college student with almost no income and nothing to base a credit score on previously could obtain a credit card (much like myself). The national credit card debt for families residing in the United States alone is in the trillions (Maxed Out). The average American family has around $9,000 in debt, and pays around $1,3000 a year on interest payments (Maxed Out). Many people have the concern today that these interest rates and fees are skyrocketing; and many do not understand why. Most of these people have to try to avoid harassing collecting agents from different agencies, which takes an emotional and psychological toll on them. While a lot of the newly recognized â€Å"risky† people (those with a doubted ability to make sufficient payments) are actually older people who have been customers of certain companies for decades, the credit card companies are actually consciously targeting a different, much more vulnerable group of people: college students. James Scurlock produced a documentary called Maxed Out on this growing problem, in which Senator Jack Reed of (Democrat) of Rhode Island emphasizes the targeting of college students in the Consumer Credit Hearings of 2005 James Scurlock strongly emphasizes this problem throughout the whole documentary. Students, ranging in ages from 18-22 primarily, are young, and naive. They are out from under their parent’s rule and free to make decisions on their own. This means that many are going to take certain steps necessar... ...edu/pqdweb?index=2&did=1202014091&SrchMode=1&sid=2&Fmt=3&VInst=PROD&VType=PQD&RQT=309&VName=PQD&TS=1224101276&clientId=7968 Kovak, Marc. â€Å"Survey suggests credit card companies unfairly target college students.† 31 March 2013. ProQuest. Mira Costa College Library, San Elijo. 15 Oct. 2014. &SrchMode=1&sid=2&Fmt=3&VInst=PROD&VType=PQD&RQT=309&VN me=PQD&TS=1224101276&clientId=7968> Maxed Out. Dir. James Scurlock. Perf. Victims of credit card debt. DVD. 2012. McGeehan, Patrick. "Soaring Interest Compounds Credit Card Pain for Millions." The New York Times. 21 Nov. 2013. 15 Oct. 2014 . "Student Financial Management and Credit-Card Debt." Rutgers University Senate. 2012. 15 Oct. 2014 .

What is the Calm Waters Metaphor? Essay

Until recently the calm waters metaphor dominated the thinking of practicing managers and academics. The prevailing model for handling change in calm waters is best illustrated in Kurt Lewin’s three step description of the change process. According to Lewin, successful change requires unfreezing the status quo, changing to a new sate, and freezing the new change to make it permanent. The status quo can be considered an equilibrium state. Unfreezing is necessary to move from this equilibrium. It can be achieved in one of three ways: 1) The driving forces, which direct behavior away from the status quo, can be increased.†¨2) The restraining forces, which hinder movement from the existing equilibrium, can be decreased.†¨3) The two approaches can be combined. Exhibit The change Process Unfreezing Changing Refreezing Once unfreezing has been accomplished the change itself can be implemented . However, the mere introduction of change does not ensure that it take hold. The new situation, therefore, needs to be refrozen so that it can be sustained over time. Unless this last step is attended to, it is likely that the change will be short lived and employees will revert to the previous equilibrium state. The objective of refreezing the entire equilibrium state, then, is to stabilize the new situation by balancing the driving and restraining forces. Note how Lewin’s three step process treats change as a break in the organization’s equilibrium state. The status quo has been distributed, and change is necessary to establish a new equilibrium state. This view might have been appropriate to the relatively calm waters metaphor is increasingly obsolete as a description of the kinds of seas that current managers have to navigate. How does the White Water rapids Metaphor of change functions?†¨This metaphor takes into consideration the fact environments are both uncertain and dynamic. To get a feeling for what managing change might be like when you have to continually maneuver in uninterrupted rapids, imagine attending a college in which courses vary in length so when you sign up, you don’t know whether a course will last for 2 weeks or 30 weeks. Furthermore, the instructor can end a course any time he  or she wants, with no prior warning. If that isn’t bad enough the length of the class session changes each time – sometimes it lasts 20 minutes, other times it runs for 3 hours and the time of the next class meeting is set by the instructor during the previous class. Oh yes, there is one more thing. The exams are all unannounced, so you have to be ready for a test at any time. To succeed in this college, you would have to be incredibly flexible and be able to respond quickly to every changing condition. Students who are too structured or slow on their feet would not survive. A growing number of managers are coming to accept that their job is much like what a student would face in such a college. The stability and predictability of the claim waters do not exist. Disruptions in the status quo are not occasional and temporary, to be followed by a return to calm waters. Many of today’s managers never get out of the rapids. They face constant change, bordering on chaos. These managers are being forced to play a game they have never played before, which is governed by rules created as the game progresses. Is the white water rapids metaphor merely an overstatement? No, take the case of General Motors. In the intensely competitive automotive manufacturing business, a company has to be prepared for any possibility. Cars are being surpassed by sport utility vehicles. Gasoline engines still cause fury among environmentalists who desire a more environment friendly source of power for vehicles. Government regulators demand ever increasing gasoline mileage. Customers want new and unique styles more frequently and competition in the industry is fierce. Although General Motors has typically on big competitors new entrants into the marketplace – Kia and Scion pick away at market share. For General Motors to succeed, it must change and continuously improve and revamp everything that it does. Answer: The calm waters view of organizational change envisions the organization as a large ship crossing a calm sea. The ship’s captain and crew know exactly where they are going because they have made the trip many times before. Change comes in the form of an occasional storm, a brief distraction in an otherwise calm and predictable trip. In the calm waters metaphor, change is seen as an occasional disruption in the normal flow of events. It is best illustrated by Kurt Lewin’s 3-step description of the change process. According to Lewin, successful change can be planned and requires unfreezing the status quo, changing to a new state, and refreezing to make the change permanent. The status quo can be considered an equilibrium state. To move from this equilibrium, unfreezing is necessary. Unfreezing can be thought of as preparing for the needed change. It can be achieved by increasing the driving forces, which are forces pushing for change; by decreasing the restraining forces, which are forces that resist change and push behavior toward the status quo; or by combining the two approaches. Once unfreezing is done, the change itself can be implemented. However, merely introducing change does not ensure that it will take hold. The new situation needs to be refrozen so that it can be sustained over time. Unless this last step is done, there is a strong chance that employees will revert back to the old ways of doing things. The objective of refreezing, then, is to stabilize the new situation by reinforcing the new behaviors. Lewin’s 3-step process treats change as a move away from the organization’s current equilibrium state. It is a calm waters scenario where an occasional disruption means changing to deal with the disruption. Once the disruption has been dealt with, however, things can continue on under the new changed situation.

The Definition of a Solid in Chemistry and Science

The Definition of a Solid in Chemistry and Science A  solid is a  state of matter characterized by particles arranged such that their shape and volume are relatively stable. The constituents of a solid tend to be packed together much closer than the particles in a gas or liquid. The reason a solid has a rigid shape is that the atoms or molecules are tightly connected via chemical bonds. The bonding may produce either a regular lattice (as seen in ice, metals, and crystals) or an amorphous shape (as seen in glass or amorphous carbon).  A solid is one of the four fundamental states of matter, along with liquids, gases, and plasma. Solid state physics and solid state chemistry are two branches of science dedicated to studying the properties and synthesis of solids. Examples of Solids The matter with a defined shape and volume is solid. There are many examples: A brickA pennyA piece of woodA chunk of aluminum metal (or any metal at room temperature except mercury)Diamond (and most other crystals) Examples of things that are not solids include liquid water, air, liquid crystals, hydrogen gas, and smoke. Classes of Solids The different types of chemical bonds that join the particles in solids exert characteristic forces that can be used to classify solids. Ionic bonds (e.g. in table salt or NaCl) are strong bonds that often result in crystalline structures that may dissociate to form ions in water. Covalent bonds (e.g., in sugar or sucrose) involve the sharing of valence electrons. Electrons in metals seem to flow because of metallic bonding. Organic compounds often contain covalent bonds and interactions between separate portions of the molecule due to van der Waals forces. Major classes of solids include: Minerals:  Minerals are natural solids formed by geological processes. A mineral has a uniform structure. Examples include diamond, salts, and mica.Metals:  Solid metals include elements (e.g., silver) and alloys (e.g., steel). Metals are typically hard, ductile, malleable, and excellent conductors of heat and electricity.Ceramics:  Ceramics are solids consisting of inorganic compounds, usually oxides. Ceramics tend to be hard, brittle, and corrosions include silicon and gallium arsenide. Nanomaterials:  Nanomaterials are tiny solid particles at the nanometer size. These solids may display very different physical and chemical properties from large-scale versions of the same materials. or example, gold nanoparticles are red and melt at a lower temperature than gold metal.Biomaterials:  These are natural materials, such as collagen and bone, that are often capable of self-assembly.

Five things to remember when writing your first bidÂÂ

Five things to remember when writing your first bid   Five things to remember when writing your first bid OK, theres no getting away from it: successful bids take a bit of effort to create. And if you’ve never written one before, it could seem like a particularly daunting task. But keeping a few crucial principles in mind will put you in the strongest possible position when you have to write one for the first time. So here are five things to remember when that time comes. 1. A bid is not an info packet. Its a persuasion tool. If you start the bid-writing process from the wrong perspective, chances are high that your proposal wont do its job. The goal of a bid is to persuade someone to choose your company. Therefore, you must think of this process as an exercise in persuasive writing, not in providing an encyclopedic description of what your company is capable of. Taking a cue from sales, the best road to persuasion is understanding your customer, identifying their need, comprehending that need, showing your customer you understand it, and then showing that you (and only you) have the solution. By simply supplying your potential client with an exhaustive treatise on why your company is wonderful, youve not taken any of the necessary steps towards persuasion. If you dont show the relevance of these facets to your potential customer, you’ve failed from the start. Don’t assume this is self-evident: connect the dots for them. The next four pointers will set you on the right pathway for actually writing your first bid. Follow them and youll end up with an effective persuasion tool that gives you the edge above your competitors. (To learn how to apply them to your own bids, check out  our bid-writing courses for individuals  and for teams.) 2. A bid should be personalised for the client. Take the time to customise the proposal. Bid writing should not be a template-driven process or an exercise in copy and paste. Youll need to do your homework and create a bid thats completely tailored for the client. This means you need to put in some solid research before you can even write a word. Yes, its time-consuming and nearly impossible to farm out, but doing so will raise your chances of winning dramatically. Begin by approaching your bid writing from your client’s perspective. That means finding out who the key decision-makers and influencers will be and writing specifically for them. Finding out who the decision-makers are is only step one, however. Then the real detective work begins: your aim here is to work out the mindset of this person (or these people). The more you can get inside their heads, the more likely youll be to strike a chord with them and be selected for the job. How to do this? Again: research. This will mean you can take the perspective of your prospective client. Only then will you be able to see the ‘problem’ from their point of view. Exactly why is it a problem to them? Determine the decision-makers focus. Youll need to consider different approaches depending on what this is. For example, are they more concerned about customer service or cost savings? Are they operations-orientated or finance-focused? Write your bid in a way that speaks to that point of view and its needs. The more you can sync your bid to the clients way of thinking about the project, the more likely it will be that they’ll see your proposal as offering the right solution for them. Which brings us to the next point. 3. A bid should show that you clearly understand the job. Think of your bid as a customised solution to the clients unique problem. Just as you should tailor the bid to the decision-makers’ thought processes, you should also tailor your proposal to the job at hand. Bids that win are those which show clearly that you understand the job. It may seem obvious that your understanding of the project is inherent to your providing a solution. However, keep in mind that your bid is a sales tool. Therefore, youre taking the reader through a sales thought process. That process involves leading the client from step one all the way up to the conclusion that only your company can do the job. An essential part of that sales thought process is confirming that you ‘get it’: you understand the job as the client understands it. Once youve laid that groundwork (and reassured them), the next logical step is showing how youll provide a great solution. How can you show that you understand the job? At the risk of repeating myself: do your homework. Look at the client’s website; look at everything they’ve told you. Use their language. The more your bid lines up with the clients way of thinking about the problem, the easier it will be to present the right solution. 4. A bid should show how you will provide value. In the business environment, persuasion is all about adding value. If your bid isnt showing the client how your company will add value, then its not a good bid. Merely describing your companys capabilities isnt necessarily going to win you the job. Put teeth into your proposal by describing what results the client can expect. If youve ever worked in sales, think of the classic ‘features versus benefits’ approach and youll understand what needs to happen here. Clients want to see the benefits of choosing you. Make these explicit. Listing the features of your organisation does not equate with showing benefits: don’t expect your client to pick apart such a list and guess at how each thing will help them. Simply telling them youll put the best and the brightest to work on their project means nothing if they cant make the connection between expertise and added value for them. What really lights up decision-makers’ eyes are statements like ‘we project an increase in sales after three months’ or ‘you can expect a 10 per cent upturn in leads by the end of the month’. 5. The devil is in the detail. Dont forget logistics. Provide a timetable for delivery and explain how and where everything will happen. Include a timeline for development too, so the client will feel informed at every stage of the plan. And don’t forget Finally, everything we’ve covered could still come to no good if you submit a bid littered with obvious grammar problems and typos. It may not seem likely (or fair) that a stray apostrophe could bring the whole deal crashing down to earth, but it’s not worth taking that risk. Good writing reflects the quality of your companys abilities and attention to detail. If you clearly havent taken the time to proofread your bid for errors (or even hire an editor to clean it up for you, if that’s an option) it could make you look very bad. The last word Your bid is an indication of how well youre going to perform the job. If youre serious about creating a winning proposal, these five reminders will serve you well. Keep this as a guideline and follow these steps and youll be well-placed to put the competition to shame with your first bid – and every one after that. hbspt.cta.load(2645537, '7b23ded2-8092-4854-8dd9-62573d3f63b2', {}); Image credit: Sunny studio / Shutterstock

How To Get Your Boss To Say Yes To CoSchedule (Powered By Science)

How To Get Your Boss To Say Yes To (Powered By Science) Marketing has  changed more in last few years than in the last half-century before them. And the velocity of change is only accelerating. This means there are more areas than ever we need to be competent in. Not only do we have to be awesome at being visionary leaders, sharp copywriters, email wizards, rockin conversion experts, killer project managers, Ogilvy-esque advertisers, and 48 other skills we have to build the skill of leading change. weve gotta challenge the status quo  before were stuck. even more, weve gotta convince our bosses to come along for the ride. And if youve made the decision to adopt , the worlds best marketing management platform, the task is the same. It all comes down to our ability to influence others. From our peers to the C-Suite execs. But, if youve ever read about the psychology of influence, it can be sad news. Doubly so when it comes to how to convince your boss or top brass to try new tools like . How To Get Your Boss To Say Yes To @(Powered By Science) by @jordan_loftisThe *Semi-Depressing* Reality Of Influencing Others One of the first principles of influence you come across is called the halo effect. In the 1920s, psychologist Edward Thorndike piloted a study of how military officers judge their subordinates. He found more physically attractive soldiers were were rated higher across the board on a four-point scale: intelligence, physique, leadership, and character. This means positive reactions to physical appearance were projected onto other areas of the soldiers. And as much as we hate to admit it, the rabbit hole goes deeper. This principle holds true in elections, as well. In a study called Beauty at the Ballot Box, researchers theorized that since physical attractiveness is a cue toward good health, we may be biologically programmed to esteem it. Meaning were naturally inclined to favor attractive people. However, when it comes to convincing your boss to say yes to a fresh software tool like obliterating makeshift marketing a flexible work-from-home policy that new process weve got many more science-backed levers to pull than just our faces. 4 Ways To Convince Your Boss To Say Yes To Fueled By Science 🚀 In this post, Ill share the best research on ethical approaches to convince your boss to say yes to (and just about anything else!). No makeup required. Youll learn four strategies: How to position your ask in concrete terms, How to align implementing with team objectives, Why to conduct a trial run with a mini post-mortem conversation, And how to win the conversation by starting big, then going small. One of the most powerful benefits of is its ability to crush the bug we call makeshift marketing. A major change to the marketing landscape is the sheer number of single-function software tools available. Unfortunately, most dont play well together. This means were stuck with tools not designed with marketers in mind. This makes your life more frustrating and puts a lid on your results. So, well walk through examples of leading change to combat it by getting your boss to say yes to ! Saddle up, partner! #1: Convince Your Boss To Say Yes To Through Loss Aversion Lets begin with  opportunity cost. An opportunity cost is the benefit someone loses in favor of taking a different action. When you choose between things, you lose the benefits of the alternative choice. With this first tactic, well leverage the principles of loss aversion and prospect theory. Research shows that people fear loss more than they desire benefit. And this greatly influences the way they choose between options (aka: prospects). Research shows that people fear loss more than they desire benefit.This means people will over emphasise even minor opportunities for loss. Nielsen Norman Group  says it like this: When choosing among several alternatives, people avoid losses and optimize for sure wins because the pain of losing is greater than the satisfaction of an equivalent gain. For example, you want to adopt a new marketing tool  like to replace a less effective one (or even multiple tools). The problem is theres a chance the new tool will cost more than its worth. Either in hard cash  and  in lost productivity. In turn, your boss may be instantly loss averse. This will impact her choice between the prospects of status quo and potential loss. The risk may seem falsely outsized - especially if budgets or time are already tight. To use this knowledge to your advantage, simply structure your ask in two parts: If we do [thing you want] it will add [positive value]. If we dont do [thing you want] it will cost [negative value]. In this case, it may sound like: If we [adopt ], it will give us a [55% lift in productivity per team member]. If we dont [adopt this new tool], we are actually losing [$1,255 per week in lost productivity]. To help you make that case, you can actually use the nifty Time Savings Calculator we built. After extensive research of our customers, we found the average time savings based on the above criteria. Simply enter your team size, the number of projects you complete each week, and the number of social profiles you manage. Then click Calculate Time Savings. In this case, a team of two completing four projects and managing three social media profiles per week can save over 20 hours per month! (Whats even cooler is  this actually happened for customer Florida Realtors ®) If you dollarize your time, thats an incredible amount of money. Ask your boss: What would it mean for us to have 80 hours back per month? The idea here is to highlight the gain as specifically as possible. Then showcase the loss of the alternative option - in this case changing nothing - as specifically as possible. This way, you can position the facts according to the emotional principles at play. If your boss says no to , theyre actually saying no to 80 bonus hours per month (on average)! Set the stakes,  make loss aversion your friend, and get to yes faster. Thanks science! #2: Convince Your Boss To Use By Aligning Change With Team Goals Next, marketers have #goalsfordays A recent study we conducted found that marketers who set goals are 429% more likely to be successful. Tactic number two is using this stat to your advantage. If you have goals, like driving  500 fresh leads every month make us of  alignment theory. In simple terms, it says the most successful people understand their strengths and then arrange their lives in alignment with them. This theory works for both individuals and teams. Successful organizations run like machines using this principle. And the power of alignment is possible when strategy, goals, and purpose mutually reinforce one another. To put it to work with your boss, structure your ask for change like this: Our team is trying to achieve [goal]. But we have [failed] for the past [timeframe]. I think the best way we can do this right now is by [thing you want]  [based on prior success]. In keeping with our 1,000 qualified leads example, the ask might be: Our team is trying to achieve [1,000 qualified leads every month]. But weve [only reached 70% of that goal] for the [past three months]. I think the best way we can do this right now is by [focusing exclusively on driving traffic] [to our top-performing landing pages]. The change youre after is a shifted focus: driving more traffic. However, the goal youre trying to achieve is the same: 1,000 qualified leads. Also notice this clause: based on prior success. If your team has had any related successes in the past, highlight them for leverage as proof.If your team has related successes in the past, highlight them for leverage as proof. In this example, it was top-performing landing pages. In their fantastic book, Switch, authors Chip and Dan Heath call these prior wins bright spots. Theyre powerful because they showcase that positive results  are possible, because you have achieved them in the past. Youre team is capable of knocking it outta the park. So, you align your methods accordingly. Bonus: This is also a great chance to sharpen your goal-setting strategy if it needs a little work. #3: Convince Your Boss To Say Yes To With A Post-Mortem Post-mortems sound sad but can I be real for a minute? I think theyre amazing. Post-mortems are amazing persuasion hacks.A post-mortem is an analysis held after a project, usually with the aim of answering this question: How on earth did things go so wrong?! So why do I love em? Because theyre amazing chances to learn. Theyre even beneficial to hold on the heels of successful projects. They promote healthy self-reflection and can benefit your entire team. To persuade your boss to say yes to , though, I want you to tactically use a mini post-mortem with your boss in advance of your ask. Two reasons: You can learn why similar changes, like adopting new tools, have failed in the past. You can pre-empt legitimate objections your boss will have ahead of time. Why Have Other Things Failed? By learning why other initiatives have failed, you can learn what pitfalls to avoid. For instance, if youre proposing a move from messy-as-hell spreadsheets to   - or a similar transition from an inefficient way of doing things - how helpful would it be to learn that the last tool transition to be shot down actually had the support of your manager, but got squashed by the CFO? Setup this convo like this: When was the last time we wanted to get budget for a new software tool in our department? How did it go? If the last attempt bombed, follow with, Why do you think it failed? And is there any way it could have been approved? If it succeeded, even better! Ask, Why was it successful? And how has it panned out? Overcoming Legitimate Objections Next, you can glean what legitimate objections your boss may have to your idea. Almost every boss Ive ever had loved to say, Yes! to great ideas. But so many of my attempts at leading a new change as the underling failed because I didnt understand their field of visibility. Field of visibility means their viewpoint informed by the things they know that you may not. Think of it like this. Company execs sit in meetings that you dont. They hear forecasts, plans, and upcoming constraints that you dont. They understand organizational dynamics you may have missed. They see your team from a broader perspective than you might. This means understanding their field of visibility is incredibly beneficial. With a mini post-mortem, you can dig in to why a similar change failed. This will help you position your ask to overcome your bosss legitimate (or even illegitimate) objections. Whether its data Or a project champion up the chain Or even competitive research You can gain insight beforehand to have great answers to tough questions. And these answers can fuel your case for adopting ! #4: Convince Your Boss By Asking Big, Then Small Last, lets talk about an old psychological warhorse: the rule of reciprocity. Psychologist and best-selling author Robert Cialdini explains it in his book,  Influence: The Psychology of Persuasion, like this. He writes: The rule says that we should try to repay, in kind, what another person has provided us [and] by virtue of the reciprocity rulewe are  obligated to the future repayment of favors, gifts, invitations, and the like. The idea is to do something for someone else  before you ask them to do something for you. When you do so, youre far more likely to get your Yes. While this principle might be effective, its often felt too manipulative for me to entertain actually doing this. You can influence people without being conniving or manipulative.Call me a boy scout, but that seems like a pretty sketchy move. And worse, an infringement on a healthy relationship. That said, there is a version of this rule I happily endorse 😎 Cialdini also shares a specific application of this rule called bargaining, saying, Bargaining is frequently used in the negotiation process, which involves reciprocal concessions. That is, if Person A rebuffs a large request from Person B, and Person B then concedes by making a smaller request, Person A will feel obligated to reciprocate this concession with a concession of his or her own by agreeing to this lesser plea. In 1975, researchers on the Arizona State University campus cracked the code on this. In an experiment, half of the students in the test were asked, Will you chaperone juvenile-detention-center inmates on a day trip to the zoo? A measly 17% said yes. The other half of the test subjects were asked a leading question first: Will you volunteer as a juvenile-detention-center counselor for two hours per week for the next two years? Every single student said no to the new leading question but then the interesting part happened. Nearly 50% said yes to the second (original) question about chaperoning the zoo visit! The angle for our marketing purposes is pretty obvious: construct two versions of your ask.

OWhat is the definition of price elasticity of demand Essay

OWhat is the definition of price elasticity of demand - Essay Example The formula for the co-efficient of price elasticity of demand for a good is Factors that determine the PED are the ability of a consumer after a price change to postpone consumption decisions that concern the good and to search for substitutes. Among others include the availability of substitute’s goods in the market structure, where the more the close the substitutes are then, the higher and the elasticity. People can simply switch from one good to the other due to a minor change in price therefore availability of close substitutes have a great effect on demand inelastic (Cohen, 2001). Others include the consumer percentage of income that the product’s price represents as people will tend to pay more interest when purchasing the good because of its cost. Others include the necessity of a good, brand loyalty and the duration that the price change holds in the market (Jehle,

Research Paper on Native Son by Richard wright Example | Topics and Well Written Essays - 750 words

On Native Son by Richard wright - Research Paper Example Many middle aged adults are content with how they have lived their lives, and others want to change theirs (Shepard, 2013). Middle adulthood presents the reality to folks that there is little time to transform their life configuration. These are times in a person’s life that they can really look back on the aspirations and goals they laid down when they were growing. Growing into middle adulthood can go either way of being pleased and satisfied or being full of uncertainty and distress. The middle age phase serves as a time for reevaluation, a chance to put new choices into consideration. Many individuals feel they need to take their livelihood in a new path or do something they’ve wanted to do their whole life. After such reflection, a person either concludes that he or she is contented with the life structure choices made or quickly plans to made changes while they are still possible (Balswick, 2005) Brian knows that his physiological functioning is weary, and his bio logical clock tells him he is reaching middle adulthood. Since many athletes participate sports over a long period (from adolescence straight to middle adulthood), a lot of wear and tear happens. To most athletes like Brian, their social clocks commence before middle adulthood. At the time, Brian was enjoying playing football; he missed his teenage years and early adulthood. Now that, he is approaching middle adulthood he looks back on what he has missed out on in the last twenty years of his life and most importantly his achievements. Attaining middle adulthood is worthwhile because he now gets to do things he longed to do with his family. This according to Zgourides fulfils the primary psychosocial task of middle adulthood, which is to, develop generativity, or the desire to expand one’s influence and commitment to family, society, and future generations (Zgourides, 2001). Women sometimes sacrifice their ambitions and career plans for their families. Their desire is to be t he best mothers to their kids and good wives to their partners. For women, middle adulthood may bring the feeling of loneliness since those who have children are worried that their children are going to leave them. One woman realized that her children were growing older and were to go away to college. She developed a sense of incompletion inside of her and knew she had to go back to college to further her career. She gave her marriage and raising children her best, unfortunately, her marriage succumbed in divorce, and her children went away to college. The woman managed to earn her degree and went ahead with her life (Miller, 2010). Perhaps middle adulthood is best known for its infamous midlife crisis: a time of reevaluation that leads to questioning long-held beliefs and values (Zgourides, 2001). Many people may feel that they did not live the life they planned for themselves when they were younger, and their lives tend restart when they reach middle adulthood. There are a lot of aspects in a person’s life that may either take a good or bad twist. By the time, adults reach middle adulthood age many of them differ in the opinion on how they have lived their life so far. This is a time when a person reflects on where they came from as opposed to where they are going from the middle of their life. Sometimes during this stage, choices are made to either continue the path already taken or establish somewhat different path of live (Whitbourne, 2005). Many adults

Paper 1 Essay Example | Topics and Well Written Essays - 1500 words - 1

Paper 1 - Essay Example The City of Cleveland argued that the ordinance was constitutional, since it upheld the ruling made under Village of Belle Terre v. Boraas, 416 U.S. 1, which had limited the number of people who could occupy a single dwelling (Casner, 189). The Supreme Court held that the ordinance created by the City of Cleveland was unconstitutional, since it violated the due process clause as provided under the Fourth Amendment Schedule of the United States Constitution (Areen, 227). The Supreme Court held that the material facts of the case were distinguishable from the nature of the facts provided under Village of Belle Terre v. Boraas, 416 U.S. 1, which offered a provision for restriction of individuals who were unrelated from one another (Areen, 227). Thus, the limitation and definition of family as a nuclear family was a completely new conception, which violates both the tradition and cultural conception of a family as involving the extended family. Further, the court held that when the conception of the family unit is challenged through the government intrusion of the choices that concern the living arrangements of family, then the interest advanced by the government in this case must be carefully examined (Casner, 189). The court also held that the ordinance established by the East Cleveland City had a weak relationship with its intended objective such as reducing overcrowding and the heavy financial burden on the schools, since a larger nuclear family could have a more overcrowding and financial burden on the city than a small extended family. Finally, the court held that the basic values underlying a society, as well as the teaching of history must be recognized and respected, at the expense of laws that seek to draw superficial and arbitrary boundaries like confining the family unit to a couple and their dependants (Areen, 228). Thus, the court held that the

Do Smartphones Benefit Classroom Learning or Not Essay

Do Smartphones Benefit Classroom Learning or Not - Essay Example Many governments in the world today have acknowledged the importance of technology by either including it as a subject in its own right in the curriculum, or stressing its importance as a set of cross-curricular skills, usually ICT. Technology allows information to be presented more accurately and more attractively than by most traditional means, so that it engages the attention of the user. Despite having its benefits technology has its disadvantages and many people have pointed at them as reasons why smart phones are not good for class room learning (Academic Conferences Limited and Balcaen 159). The use of smart phones in classroom learning has its failures and benefits at the same time (Winebrenner and Brulles 214). However, the benefits certainly outweigh the failures. This paper supports the use of smart phones in class room learning by arguing on its benefits against its failures. The term smart phone is generally used to refer to more advanced cellular phone, whose capabiliti es outdo those of feature phones. Smartphones are primarily communication devices, but today, their functions have increased. Many schools today allow students to use their smart phones or other handled devices in the classroom. One thing people should not forget is that smart phones are not limited to classroom learning, but can also be used to do further research after class, making them very beneficial to learning. For example, smart phones have software’s such as cameras, which are extremely helpful for creating digital projects. Students today are always finding ways to get connected. For example, children of all ages now know how to use smartphones more than their parents. Research has shown that even at the age of three, some children learn how to use their parent’s smart phones. The Benefits of using Smart Phones for Classroom Learning There are many benefits that come with using smart phones in classroom learning. These include: a. Reducing boredom in classroo m learning People have argued that though smart phones reduce boredom in classes by making learning lively, students in this new age are highly motivated by technology and thus, tend to be very mischievous when the class is still in session. They tend to log-in social sites and instead of concentrating in class they, are busy exchanging non-educational materials leading to poor performance in academics Davies and Eynon point out that â€Å"opportunities to continue out-of-school uses of technology when in school have been limited or non-existent until quite recently for most young people† (1931). However, many are times that teachers look for ways to inspire or motivate learners in class. For example, one will find them opening doors and windows, also engaging the learners in singing so as to make them want to learn. Technology and in this case smartphones can play a key part in achieving this easily. It is very evident of how children of this new age are motivated easily by technology. A research done in 2006 suggested that â€Å"technology can have a positive impact on pupil’s levels of concentration, self-confidence, self-esteem, independence, and behavior† (Waugh and Jolliffe n.p.). b. Smart phones provide access to the curriculum for children with special educational needs Smart phones and especially those used by special needs learners, like any technology, are not cheap to purchase. In some schools, they are limited in meeting the needs of each and every student. This does not make learning any simple for such people, but rather, complicates their lives more and at the end, their goals are not achieved. Despite this, smart phones have

Time Periods Essay Example | Topics and Well Written Essays - 250 words

Time Periods - Essay Example Feinstein celebrated and wondered about life if a â€Å"poet surprise him? Or would he insist on keeping a pattern to link every transfiguration? â€Å" while Dickinson talk of things that could never be. With regard to structure however, Dickinson is more straightforward and easier to understand. She used quatrains or poems of four stanzas compared to Feinstein’s loose structure of her poem which had 3-2-2-4 stanza. Feinstein’s theme may be positive but understanding her is quite a stretch for a modern audience because her metaphors are no longer used today such as â€Å"dressed in antique goggles† when she meant scientist. Scientists today no longer wear goggle. Gender orientation is also obvious in both poems. Dickinson’s â€Å"Success is Counted Sweetest† is very virile in its topic as it spoke of endeavor and a soldier and therefore, male in orientation. Feinstein’s Anniversary however is obviously female trying to convince a male, probably a husband or boyfriend who is a scientist or academician that we are all

Do Smartphones Benefit Classroom Learning or Not Essay

Do Smartphones Benefit Classroom Learning or Not - Essay Example Many governments in the world today have acknowledged the importance of technology by either including it as a subject in its own right in the curriculum, or stressing its importance as a set of cross-curricular skills, usually ICT. Technology allows information to be presented more accurately and more attractively than by most traditional means, so that it engages the attention of the user. Despite having its benefits technology has its disadvantages and many people have pointed at them as reasons why smart phones are not good for class room learning (Academic Conferences Limited and Balcaen 159). The use of smart phones in classroom learning has its failures and benefits at the same time (Winebrenner and Brulles 214). However, the benefits certainly outweigh the failures. This paper supports the use of smart phones in class room learning by arguing on its benefits against its failures. The term smart phone is generally used to refer to more advanced cellular phone, whose capabiliti es outdo those of feature phones. Smartphones are primarily communication devices, but today, their functions have increased. Many schools today allow students to use their smart phones or other handled devices in the classroom. One thing people should not forget is that smart phones are not limited to classroom learning, but can also be used to do further research after class, making them very beneficial to learning. For example, smart phones have software’s such as cameras, which are extremely helpful for creating digital projects. Students today are always finding ways to get connected. For example, children of all ages now know how to use smartphones more than their parents. Research has shown that even at the age of three, some children learn how to use their parent’s smart phones. The Benefits of using Smart Phones for Classroom Learning There are many benefits that come with using smart phones in classroom learning. These include: a. Reducing boredom in classroo m learning People have argued that though smart phones reduce boredom in classes by making learning lively, students in this new age are highly motivated by technology and thus, tend to be very mischievous when the class is still in session. They tend to log-in social sites and instead of concentrating in class they, are busy exchanging non-educational materials leading to poor performance in academics Davies and Eynon point out that â€Å"opportunities to continue out-of-school uses of technology when in school have been limited or non-existent until quite recently for most young people† (1931). However, many are times that teachers look for ways to inspire or motivate learners in class. For example, one will find them opening doors and windows, also engaging the learners in singing so as to make them want to learn. Technology and in this case smartphones can play a key part in achieving this easily. It is very evident of how children of this new age are motivated easily by technology. A research done in 2006 suggested that â€Å"technology can have a positive impact on pupil’s levels of concentration, self-confidence, self-esteem, independence, and behavior† (Waugh and Jolliffe n.p.). b. Smart phones provide access to the curriculum for children with special educational needs Smart phones and especially those used by special needs learners, like any technology, are not cheap to purchase. In some schools, they are limited in meeting the needs of each and every student. This does not make learning any simple for such people, but rather, complicates their lives more and at the end, their goals are not achieved. Despite this, smart phones have

Company Analysis Research Paper Example | Topics and Well Written Essays - 750 words

Company Analysis - Research Paper Example Therefore, from a marketing perspective, the name ‘Hooter’ by the company represents class of restaurants rendering special services to customers mainly young men through young women who are mainly the waitresses. The parent company is the Hooters, Inc comprises of two restaurant companies; Hooters of America and the Hooters spread in over for hundred and thirty five locations worldwide. Apart from the foods and drinks, the company has also been involved some other activities in the past that have had their share in the success of the company. In between 1988 and 2011, Hooters sponsored sporting activities ranging from boat racing in Formula one to Hooters Golf Pro tour. Back in 2003, Hooters launched the Hooters Air Airline that was believed by many to have the prettiest stewardesses in the history of air transport. Hooters Company also runs several casinos in various major cities of the world (Graver 1-3). According to Brizek (2-3), the founders of the Hooters Company were three young men who saw the need to start a restaurant that would satisfy the needs of men. Therefore, in their minds the main target population was young men. This is clear and evident that Hooters Company targets young men in the market that is why the company uses the young girls- Hooter girls as their public figure. The company targets young men of approximately ages twenty five to thirty five years consisting of working class individuals as well as young rich business guys around the world. This is why Hooters restaurants cut across different religions; Christianity, Islamic and even Hinduism. These are the individuals with fancy lifestyles. Nevertheless, Hooters restaurants are widely spread in different states of the world targeting different nationalities such as the Americans both from North and Suoth America, Britons, Japanese, Chinese and

Boys Literacy Essay Example for Free

Boys Literacy Essay Boys are seen as in trouble, says Smith. But while the common assumption is that boys reject literacy because they see it as feminized, Smiths research points in another direction. The boys participating in his study, he maintains, rejected certain literate activities not because they were for girls but, rather, because they were schoolish. In our research, we looked outside of school to see what boys were reading and writing about, Smith says. What we found, essentially, was that boys read that they in fact value literacy but most of them dont read or write in ways that schools recognize. The authors worked closely with 49 middle- and high-school boys at four sites in three states, including New Jersey. The boys school environments ranged from an urban high school to a private, all-boys prep school. Participants kept journals detailing not only how they spent their time in the classroom, but also how they applied literacy skills to activities outside the classroom. In addition, the authors conducted in-depth interviews with the boys several times during the course of the study. Many study participants expressed a pronounced dislike for literacy-related classroom activities. But in their passionate descriptions of extracurricular interests such as sports or movies Smith and Wilhelm found the boys were engaged in an abundance of reading-based activities. This contrast between school reading and life reading led the researchers to conclude that boys are motivated to excel inliteracy-related areas when they feel competent in them, understand their purpose or see a connection to their social environment. If that passion could be tapped, the authors write, school would be revolutionized. Perhaps no boy illustrated this point to Smith as poignantly as a functionally illiterate teen-ager, who had difficulty in school but nevertheless subscribed to several automotive magazines. I knew he couldnt read and wondered why he wanted to subscribe to a magazine, Smith relates. He said he likes to look at the pictures and, if something seems important enough to be read, hell ask someone to read it to him. Another boy, an avid wrestling fan, eagerly absorbed facts and trivia about wrestling and took the trouble to document more than 600 wrestling moves in a notebook to share with his friends. To call that kid alienated from literacy would be wrong, says Smith. Its not only literate behavior, but schoolish behavior, although not in a context that school allows. The materials that many boys might actually enjoy mystery stories, novels of suspense, song lyrics, or Web sites and magazines about hobbies or sports are not valued in the traditional classroom, says Smith. In their place are texts selected by teachers that might not appeal or be accessible to every student. Lots of teachers like Lord of the Flies, for example, because it lets them teach about symbolism in a nuanced teacherly way, Smith notes. Theres nothing wrong with that approach to teaching, but we have to recognize that some boys many boys wont feel particularly competent about their abilities in that environment. We argue that, yes, boys need to be taught how to do that kind of literary reading, but that theyll be more motivated to do so if the reading is done purposefully for example, in the context of pursuing an answer to an authentic question. Smith and Wilhelms research also casts suspicion on the persistent myth that boys and men favor fast-paced action over character-driven stories. We asked boys to respond to four different stories, which differed in terms of the gender of the narrator and the relative emphasis on action versus character development, says Smith. The story that provoked the most response from the boys centered on the family conflicts experienced by a female narrator. Some boys rejected the story, but many more were engaged by the issues it raised about family relationships. Thats something we never would have guessed, Smith adds. We put that story in there to give the boys a chance to reject it, and they didnt. The study also calls into question another gender-based myth, which posits that adolescent and teen-age boys are less social than girls, a finding that the researchers believe should inform curriculum development in the future. Our study challenged conventional wisdom that boys at this age are alienated and unemotional, says Smith. All of the boys in our study had intense friendship circles. We found sustained relationships and strong social engagement. Smith hopes his and Wilhelms groundbreaking research on boys literacy will lead to some changes in the approach to literacy instruction in the classroom. He sees this as especially critical in the upper grades, where boys are given fewer choices in their assigned reading materials and writing assignments. In secondary school, theres a shift from teaching how to read to reading canonical texts, Smith points out. Choice goes out the window, and difficulty increases. Why in high school does it always have to be hard literature? Why does it alwayshave to be teacher-chosen? he questions. We need to work in choice in the classroom. The alternative, Smiths research suggests, will continue leaving boys stranded in the classroom, much like the young island castaways left to fend for themselves in Lord of the Flies. What is it about Harry Potter? Parents, teachers and other adults who hope to inspire young readers to develop a lifelong appreciation for reading and literacy may wonder what it is that accounts for the phenomenal success of the Harry Potter books by J.K. Rowling, which have inspired even those youngsters who previously had no interest in literature. Associate Professor Michael W. Smith believes that his research on boys andliteracy provides some answers. In our study, we found that the boys like sustained relationships with authors and characters, says Smith. That may explain why some young readers find it so difficult to wait for the next Harry Potter book to come out. For them, its like not being able to see a good friend for a whole year or more. Smith explains that serialized books help young readers develop an appreciation for literature because these books create a familiar world that the reader returns to in book after book. Smith uses the term scaffolding to describe this concept. Once youve imagined a world, you dont have to re-imagine it, explains Smith. The boys in our study didnt like to read stories if they had difficulty imagining the worlds the books created. For similar reasons, sometimes young readers are more engaged in reading a book that has been made into a movie after viewing the film instead of before, Smith says. Another reason Harry Potter is so popular is because its storylines are exportable in conversation, which, to the minds of the young men in his study, adds practical and social value to reading the books, says Smith. Like reading box scores or sports tidbits in the newspaper, there are cool parts of Harry Potter that are easily reducible for conversation, Smith says. A more complicated piece of literature is harder to bring into everyday conversation.

Analysis of Board of Directors and Risk Propensity

Analysis of Board of Directors and Risk Propensity Banks are all similarly confronted with particular regulations and inspections of banking supervisions. Within this topic, the board of directors plays an important role. There are different factors considering how the composition of a board might influence its performance and the decision-making process. Therefore, factors like independence, age structure, percentage of minorities and women and the size of the board will be analyzed. After determining the composition, the influence of it on the percentage of equity financing and therefore the risk propensity will be analyzed. Furthermore, the composition will also be linked to performance indicators as Return on Assets (ROA), Return on Equity (ROE), and the development of stock quotations. 3.1. Corporate Governance The term corporate governance describes processes through which an organization is controlled and directed. Those structures specify which rights and duties certain participants in a company have and how the decision-making process works. This mostly affects the board of directors, the top management team (TMT) as well as shareholders and other stakeholders (OECD, 2005). Corporate governance is concerned with the possible abuse of power of the managers and the need for certain qualities like openness, integrity and accountability during the whole decision-making process. As shown in Figure 3.1, it also examines how certain mechanisms, including incentives, can help to minimize transactions costs that arise in an organization between principals and agents as described in the agency theory below (Mathiesen, 2002). 3.2 Structure of the Board of Directors The members of the board are generally elected by the shareholders and their responsibilities vary with the nature and the complexity of the organization. However, there are two different systems regarding the boards of directors. On the one hand there is the Anglo-Saxon system in countries like the United States and Japan (12Manage: The Executive Fast track, 2008). This consists of a one-tier board structure, where executive and non-executive directors work together in the board of directors (Weimer and Pape, 1999). This single board is usually entirely appointed by the shareholders and the CEO often also holds the board chair (12Manage: The Executive Fast track, 2008). On the other hand, in countries like Germany and the Netherlands, companies have adopted a two-tier board structure. There, the board is divided into the managing board and the supervisory board to formally separate powers (12Manage: The Executive Fast track, 2008). The managing board is monitored and advised in major policies by the supervisory board (Weimer and Pape, 1999). The CEO holds the chair of the managing board, but cannot hold the chair of the supervisory board at the same time (12Manage: The Executive Fast track, 2008). Even though, the board of directors is usually elected by the shareholders, in some cases also employees elect their own representative(s) from the workforce to support their interests on the board. In state-owned banks directors are delegated to the bank by the State Council and in where the board of directors is spitted up into managing board and supervisory board, the managing directors are appointed by the supervisory board members as shown in Figure 3.2. 3.3 Tasks of the Board of Directors In general, directors represent the shareholders interests, because they provide the elementary assets for running a company. Therefore, the main role of the board of directors is to govern an organization while acting for the shareholders in order to protect their assets and to ensure a decent return on their investments (Oss, 2003; Kennon, 2008). The board of directors is the à ¢Ã¢â€š ¬Ã…“highest governing authority within the management structure at any publicly traded companyà ¢Ã¢â€š ¬? (Kennon, 2008, n.p.). For this reason, the board is in charge of defining the corporate mission, setting the companys objectives and approving the firms strategy concerning the well judged allocation of the financial resources (Oss, 2003). Even though the board holds the total authority for a companys decision making they cannot manage the companys day-to-day operations, because this is the role of the CEO and the TMT (Oss, 2003). The resulting conflict potential is discussed in the Agency Theory below. According to Oss (2003) it is the boards task to govern and the CEOs to manage. Therefore, a clarified classification of who is in charge will eliminate these conflicts. Furthermore, another stakeholder group exists, as mentioned in the Stak eholder Theory (see Figure 3.3) with additional interests and requirements for the board of directors. Regarding all players and interest groups in an organization, the responsibilities of the board are possible to be divided into a Governance Role, a Service Role and a Control Role. Beside the strategic decisions, an important task of the board members is to appoint special committees like the Audit and Risk Committee, and to select qualified managers, as well as to help and to support them with their skills and expertise. Finally, the board controls if the management meets the companys objectives concerning ethical tenets or laws (Oss, 2003). 3.5 Related Research regarding Board Composition From the theories and former research, it becomes clear that boards have different tasks. Therefore, an optimal structure or composition of the board is essential for fulfilling the tasks. The main tenor in the literature is that in order to work efficiently boards have to be independent with diversity in backgrounds, gender, race and age. However, a certain composition of the board might also affect how much risk the directors are willing to take. The composition of the board receives more and more attention in terms of structure and stability. If a better structured and more stable board of directors is related to a better firm performance, companies with a well-composed board should perform better than other companies. For the purpose of this paper, a well-composed board is defined as a stable and diverse board composed of a majority of independent members along with a number of women and ethnic minority directors. To build the connection to the topic terms à ¢Ã¢â€š ¬Ã¢â‚¬Å" board composition on the one side and firm performance and risk propensity on the other side à ¢Ã¢â€š ¬Ã¢â‚¬Å" it is important to focus on different behavioral patterns which are the result of variations in board compositions. By investigating the influence of the board composition on firm performance and risk propensity it is possible to get insights into how differently composed boards behave regarding specific board tasks. Differently composed boards behave differently in various situations; for example, when they decide whether to replace a poorly performing CEO or when they choose at what price the company should be sold. The boards decision is also important when the acquisition of another firm has to be approved or whe n takeover defenses have to be adopted and employed. Finally, the board plays a big role when it comes to establishing the CEO and executives compensation packages (Bhagat and Black, 1999). 3.5.4 Board Size Board size is seen as one of the most important factors when it comes to the influence on the performance of a company (Kyereboah-Coleman and Biekpe, 2005). The main view regarding board size is that large boards have a negative impact on the performance of the company. That is, because tasks like coordination, decision-making and the communication between the members are more difficult and expensive, the more directors have to be included (Belkhir, 2008). Therefore, the costs would outweigh the gains of having more expertise on the board. Belkhir (2008) cited Jensens (1993) statement that boards with more than seven or eight people are less effective and easier to control for the CEO. Earlier research of the board size supports the proposition that smaller boards are better. Yermack (1996) discovered a negative relationship between board size and firm performance measured by Tobins Q and several other accounting figures. In their sample of small Finnish firms, Eisenberg et al. (1998) also find a negative relationship between the number of directors and financial success of the company. Furthermore, Kyereboah-Coleman and Biekpe (2005) determined that large board sizes are bad for the sales and growth ratio of companies in Ghana. However, Belkhir (2008) found a non-negative relationship between the size of the board of directors and the firm performance measured by Tobins Q, as well as, by return on assets (ROA) for financial institutions. Especially savings-and-loan holding companies (SLHC) might increase the value of the company with a rising number of directors. Therefore, the next hypothesis is that: H4a: An increasing board size has no negative influence on the company performance. When it comes to taking risks, there is not as much empirical evidence. However, if one looks at the decision-making process of a board, especially when its number of directors is very high, the obvious assumption is that for risky decsions it is more difficult to get a consensus the more people have to vote for it. Furthermore, Pfeffer and Salancick (1978) and Lipton and Lorsch (1992) determined a relationship between the capital structure of a company and its board size. Additionally, a study of Abor and Biepke (2005) discovered that an increasing board size and the debt level of Ghanaian SME are negatively related. Thus, the authors assume that: H4b: The board size is negatively related to the risk propensity of the company. 3.5.5 Board Independence You can distinguish between inside directors (current officers of the company) affiliated outsiders (former company officers, and persons who have business relationships with the company) and independent directors (Bhagat and Black, 1999, p. 4). Independent board members (outside directors) are à ¢Ã¢â€š ¬Ã…“not associated with or employed by the companyà ¢Ã¢â€š ¬? (Kennon, 2008, n.p.). According to Kennon, in the United States at least fifty percent of the directors must meet the requirements of independence. A board with fifty percent of independent directors is called a majority-independent board (Bhagat and Black, 1999, p. 4). The Sarbanes-Oxley Act of 2002 places a strong emphasis on the independence of directors. Brown et al. (2004) confirmed this requirement with positive results in their study on the effects of the independence of the board members on financial firm performance data. They found that independent boards have higher return on equity (ROE) and profit margins. Furthermore, it is determined that outside directors can monitor the management more effectively than insiders (Bonn, Yoshikawa, and Phan, 2004). Therefore, the conclusion of several empirical studies is that, besides a more diverse board, a more independent board has a positive effect on the financial performance (see also Adams and Mehran, 2008). But, boards with majority-independent directors have both positive and negative effects. On the one hand, inside directors are more involved in the companys operations and might know the business better than outsiders. On the other hand, outside directors might keep cool and act in a more objective way than insiders. Besides that, several studies did not find significant evidence that a higher number of independent directors within the board is related to the quality of financial reporting, or to the likelihood of firm failure. Additionally, there is no evidence of more firm-level diversification or a connection to research and development spending (Bhagat and Black, 1999). Therefore, Bhagat and Black (1999) recommend that it might be valuable for companies to compose their boards with at least a moderate number of inside directors. This is supported by their results that there is a negative relationship between the degree of board independence and firm performance. However, different firms need different types of boards and an optimal board contains a combination of inside, affiliated and independent directors who bring different skills and knowledge to the board (Bhagat and Black, 1999, pp. 32-33). Along with the companys objectives and shareholder interests, boards of banks additionally bear micro- and macro-economic responsibilities, which can be positively influenced by the optimal composition of the board. For board members of financial institutions, a cooperative board-CEO relationship is elementary. Only when the board gets the complete information about the operating business processes from the CEO, can they make the right decisions for the company. For this reason, it is important to know if inside or outside directors can deal better with the CEO or TMT and generate a higher performance. The writers therefore hypothesize for the banking sector, that: H5a: A higher number of outside directors does not influence firm performance. Pfeffer and Salancik (1978) developed the Resource Dependency Theory and determined that a number of outside directors upgrade a companys ability to protect itself against outside influences and reduce the uncertainty level. Furthermore, they stated that outsiders might help the company retain a certain status and raise funds. Thus, a higher number of outside directors on the board should increase the debt level of the company. On top of that, independent directors might act more in the shareholders interests than inside directors (Bonn, Yoshikawa, and Phan, 2004), and for this reason we hypothesize: H5b: A higher number of outside directors will be positively connected to the risk propensity of the company. 3.6 Summary of the Hypotheses In table 3.1. below, all hypotheses are presented at one glance. These propositions have been derived from past studies and behavioral theories as presented above. Table 3.1 Hypotheses Composition Company Performance Risk Propensity Gender Diversity H1a: A higher percentage of women on the board of direc-tors has a positive influence on firm performance. H1b: A higher percentage of women on the board is nega-tively connected to the risk pro-pensity of the company. Average Age of Directors H2a: The average age of the board of directors is nega-tively connected with firm performance. H2b: The average age of the board is positively connected to risk avoidance of the company. Ethnic Diversity H3a: A higher number of minority directors on the board is positively related to company performance. H3b: Minority directors do not affect the risk propensity of the company. Board Size H4a: Increasing board size has no negative influence on the company performance. H4b: The board size is nega-tively related to the risk pro-pensity of the company. Board indepen-dence H5a: A higher number of outside directors does not in-fluence firm performance. H5b: A higher number of outside directors is positively related to the risk propensity of the company. 4. Empirical Study 4.1 Research Methodology 4.1.1 Sample In this empirical research the top 50 banks in the world according to Bankersalmanac.com4 were investigated. The banks were ranked according to their total assets as of June 30, 2008. For the data collection, there was a time span of three years, from 2005 to 2007. This particular group of banks has been chosen, because of their size and international branches. The reasons for choosing the largest banks from all around the world were to have a comparable size of international business when comparing them. If the banks had only been from one or two countries the differences in size would have been significant and the developments on the financial market would have probably only affected the bigger banks. This might have had an effect on the performance. Thuse, for 2007 the results could have possibly been very inconsistent. Regarding the chosen sample, it can be assured that the international situation has affected them all à ¢Ã¢â€š ¬Ã¢â‚¬Å" some banks more than others, depending on how risky their business operations were. That results in a possible interpretation on how each bank, with managers and board directors, has dealt with the problems and obstacles. 4.1.2 Data Collection Method The necessary data for this study were collected from the annual reports of the 50 financial institutions. The data about the board of directors were found in the corporate governance section of the reports. Data about the company performance were gathered from the consolidated income statements and balance sheets of the banks. The data were usually dated the 31st December of the year. However, some bans adopted a fiscal year ending on March 31, or September 30 of the year. Then, we considered the Annual Reports from March 31, 2008 as belonging to 2007 as well as the Annual Reports from September 30, 2007. This way, it could be assured that the figures were all derived during the similar time period. Furthermore, the main capital ratios, necessary for the risk propensity were taken from the section risk management. However, there are no strict regulations on how companies have to structure their annual reports. Therefore, the relevant data of some financial institutions was found in different parts of the annual reports or on the websites of the companies. 4.2 Operationalization The research data were collected in an Excel sheet for further calculations and preparation purposes with regard to the statistical analysis using the statistics program SPSS. During the research process the researchers also used a complementary list to record secondary and supportive information needed to calculate the total numbers for the primary Excel list. 4.2.1 Board Composition Data The five board composition variables were selected by the authors and the corresponding information about those data were collected as presented in the following paragraphs. 4.2.1.1 Board Size The board size was recorded by counting the members and listing their names. This was done for all three years to find out if there were any changes in the board composition from one year to another. The changes were recorded in the complementary lists. The total number of board members for each bank and each of the three years were transferred to the primary Excel sheet. 4.2.1.3 Independent Directors Next, the authors looked at the percentage of independent directors. The financial institutions usually indicated in the annual reports or on their homepage which members of the board were independent. However, sometimes it was not explicitly alluded neither in the annual report nor on the companys website. Then, the researchers decided if a director was independent or not using an own definition described above. The authors examined if s/he has any other connection to the company beyond the board activities; for instance if him/her is or was employed by the bank in the last years or bears executive tasks. If there was no connection (excluding shareholding) at all, s/he was defined as independent director. The share ownership of directors was excluded, because at some banks each director is obliged to hold at least a small number of shares. The sum of all independent directors of each bank was copied to the list and divided by the total number of members. 4.2.2 Company Performance Indicators To investigate the influence of the board composition on the firm performance the authors chose four performance measures divided into two categories: operating performance and shareholder payout. The three most important financial indicators are the performance measures Return on Assets (ROA), Return on Equity (ROE), and the Efficiency Rate (CIR). Besides this, the researchers also looked at the share performances compared to previous years. These are all common indicators, which are important for shareholders. Furthermore, they are well comparable to the results previous studies in other industry branches showed using the same indicators. To control for the possibility that the performance indictors will be connected to the size of the bank, total assets were also recorded and will be included in the correlation tables and regression models. 4.2.2.1 Return on Assets The accounting measure of a companys profitability, Return on Assets (ROA), indicates net income from all of the banks operations relative to the average book value of all assets (Carter, DSouza, Simkins, Simpson, 2007, p. 15). It shows how beneficial assets are used by management to create earnings for the company. This means that it is possible to see how much profit was derived from invested assets (Investopedia, Definitions, 2008). It is calculated as: ROA= Net Income/ Avg. Total Assets 4.3 Credibility of the Research Data 4.3.1 Reliability Reliability is concerned with the question if the data that were collected by the researchers would be consistent with the findings other researchers would have using the same sources (Saunders et al., 2007). The most data were collected by the authors in a quantitative but diligent manner from the published and certified annual reports of the banks. Due to this fact, the research data cannot be interpreted wrong by the researchers and therefore have a high reliability. However, when it comes to the board composition data about women, minorities and independent directors, the authors had to interpret by using pictures or curriculum vitae of the directors. The gender of the board members is usually recognizable when using pictures. Thus, it is clear and should not be inconsistent when other researchers collect these data. A little more difficult is the question about minorities. For that part, the biographies have to be considered, especially, when it comes to questions about backgrou nds and where the people grew up. This fact can lead to different interpretations depending on who collects the data. However, the definitions on ethnic minorities were made clear in the theoretical part and thus, the results should be very consistent. When deciding about the independence of the directors, there are two factors to consider. First, when the banks noted if the directors were independent, this was just copied for the research. These data are very reliable, because there is no space for interpretation. However, if it was not indicted and the biographies of the directors were read and the decisions about the independence were basically made after reading the professional background. Therefore, other researchers could have a different opinion about directors independence. To summarize, most of the data are very reliable, because they are published and just have to be copied. Only for factors, that the authors had to interpret, it could come to inconsistencies, which should be very limited though, because the data collection was done very diligently and clearly set definitions have been used. 4.3.2 Validity Validity of data is concerned with the question if the findings are what they appear to be. The researcher has to find out if the variables really have a causal relationship (Saunders et al., 2007, p.150). In this study, it was made clear through the theoretical background that board composition and company performance, as well as, risk propensity influence each other. This is mainly secured by the fact that the board of directors makes decisions which are intended to influence the financial results. However, to make sure that the relations between the board and firm performance and risk propensity are not accidental, four performance measures and two risk measures that were studied. A problem could arise, if the results are inconsistent. If that was the case, the contradicting results have to be interpreted and explained. 4.3.3 Generalisability The aim of this research study was to be able to generalize the results, which means to be able to apply the results to other settings (Saunders et al., 2007). Other settings could be for example a different group of banks or maybe other companies located in the same countries and also have international operations. For this reason, the quantitative research method was applied. To get reliable and valid results the authors collected almost 150 data sets by investigating 50 banks over three years. The number of banks was not selected by the authors but provided by a public resource which registered the 50 largest banks as measured by their total assets as of June 30, 2008. This amount of research data and the fact, that the sample includes banks situated on three continents in many different countries, allows the authors to generalize the findings. 5. Analysis 5.1 General Findings The sample of fifty banks consists of the largest financial institutions from North America, Europe and Asia. The biggest group are the European banks. One bank from the sample had to be excluded because its structure differed too much from the other banks and did not fit to the research questions. It was a state-owned bank which was controlled by politicians to a large percentage. Furthermore, for the year 2005, one more bank had to be left out, because it was just created in 2006 by a merger of two smaller banks. To be able to compare the banks, all performance indicators that were stated in different currencies have been converted into Euros with the currency rate of December 31 of each year.6 In table 5.1 general statistical values of the variables are listed. A value that was controlled for in the research was total assets. This was important for detecting if the board size or any of the other independent variables changed with the size of the bank. However, there is no significant relationship between the total assets and the size of the board (see table 5.2). Therefore, it is possible to say, that banks do not decide about the number of directors based on their size measured by total assets. It is rather noticeable that banks with a two-tier board system have larger boards than the other banks. The maximum number of directors came up to 48, when adding up the number of directors in the supervisory and the managing board compared to a minimum of seven board members in a one-tier system bo ard of directors. Table 5.1 Descriptive Statistics years 2005-2007 Samples Minimum Maximum Mean Median Std. Deviation Total Assets (Mio. à ¢Ã¢â‚¬Å¡Ã‚ ¬) 146 168,119 2,579,194 732,994 557,269 415,293 Board Size 146 7 48 18.36 17.00 6.92 Board Age (years) 142 49.1 64.70 57.32 57.74 3.44 Women (%) 146 0.00 42.90 10.02 6.8 9.32 Minorities (%) 146 0.00 41.20 3.73 0.00 7.79 Independent Directors (%) 146 0.00 94.10 49.15 50.00 28.80 Share Development cp. to Previous Year (%) 100 -44.75 106.67 14.61 16.90 27.52 ROE (%) 146 -37.90 37.50 14.56 15.35 8.60 ROA (%) 146 -0.30 1.75 0.65 0.59 0.40 Cost/Income Ratio (%) 125 34.70 114.00 58.89 56.00 13.07 Debt-Ratio (%) 146 87.73 98.54 95.31 95.95 2.19 B.I.S Capital (%) 135 8.5 19.70 11.79 11.60 1.72 5.2 Interdependency between the Independent Variables Before checking for the influence of the board composition on performance and risk propensity, the interdependency of the independent variables was evaluated in table 5.2. It is noticeable that many of the factors correlate with each other within the one percent significance level. The strongest correlation exists between the variables board age and percentage of independent directors. It shows that the higher the average age of the directors is the more independent directors are on the board. This leads to the conclusion that outside board members are usually older than executive directors. Another strong significant relationship is shown between the variables board age and board size. This correlation is negative and implies that the average age of the directors decreases when the number of board members increases. The reason for this link could be that the younger board members are introduced into the tasks before the older directors retire. One more noticeable factor is that the percentage of women on the board is positively correlated with the percentage of minorities on the board. This supports the results of Carter et al. in 2002. Furthermore, independent directors correlate significantly positively with women and minorities, which supports the conclusion that female and minority directors usually seem to be outsiders to the bank. An interesting fact is also that minority directors usually seem to be of more importance in smaller boards. The correlation between the board size and the percentage of minorities is slightly negative, which indicates that smaller boards have a higher percentage of ethnic minority directors. Furthermore, it is interesting that the boards of directors of banks do not significantly correlate with their total assets, as mentioned before. However, the board age has a very significant positive correlation with the assets. This implies that larger banks usually have an older board of directors. Besides, those banks also seem to have a slightly higher percentage of independent outside directors as shown by the positive correlation between these two factors. With the high interdependencies between the independent variables, it could come to multicollinearity problems in the regression analyses for the dependent performance and risk indicators. Fortunately, this is not the case as shown by the VIF-values, which are lower than 2.5, in the regression models below. Table 5.2 Correlations between Independent Variables 1 2 3 4 5 6 1 Total Assets a 1 2 Board Size a -.113 1 3 Board Age a .308*** -.403*** 1 4 Women (%) a -.052 .037 -.026 1 5 Minorities (%) a .098 -.176** .254*** .267*** 1 6 Indep. Directors (%) a .208** -.114 .465*** .369*** .308*** 1 *** Correlation is significant at the 0.01 level (2-tailed) ** Correlation is significant at the 0.05 level (2-tailed) a Pearson correlation coefficient 5.3 Influence of Board Composition on Performance Data At the beginning, the correlations of the data from all three years were evaluated together to get a general overview over the connections made between the independent and dependent variables. 5.3.1 Return on Assets When regarding the influence of the board composition on the first performance indicator it is very obvious that ROA is connected to all variables, except for total assets (see table 5.3). The strongest positive correlation exists between the variables return on assets and percentage of independent directors, followed by minorities. A little weaker connection is shown with the percentage of female directors and the board age. The linkages indicate that outsiders or a more divers and experienced board (concerning average

The Miller Essay -- essays research papers

The Miller The Miller is not in the tale, but is as vivid a creation of Chaucer as characters that are. The Knight presents us with an ideal to which he probably aspires; the Miller presents us with the real everyday world. While the Knight stresses the nature of romantic love, the Miller considers love in sexual terms. Neither view alone is wholly true. Each is a corrective to the other: love embraces both of these elements. This paper will describe The Miller’s characteristics, his humor, his education level, and his habits. Like the Wife of Bath, the Miller is a character of commanding physical presence: he is a massive man who excels in such displays of strength as wrestling matches, and breaking doors "at a renning with his heed". He is a bearded, strong, working man. By stressing the Miller's physical attributes, Chaucer suggests to the reader the idea of a down-to-earth man who takes pleasure in satisfying basic appetites. Though the Miller is a man of down-to-earth outlook and physical pleasure, he is a very intelligent man. His narrative style, if less complex and conventionally sophisticated than the Knight's, is superb in its realism, economy and control, especially of the humorous elements. The Miller is an educated man, and able to describe the paraphernalia of Nicholas's astrological activities. This rather unexpected subtlety is indicated in the final lines of the description in the General Prologue. These are introduced by "And yet..." sh...

Film genre, narration, reality tv :: essays research papers fc

Genres (Researched from â€Å"Film Art: An Introduction† by D. Bordwell and K. Thompson.) â€Å"Types of films are commonly referred to as genres (pronounced â€Å"zahn-rahz†). The word genre is originally French and simply means kind or type.† (Bordwell & Thompson, 2004: 108). Genre groups films, which share similar filmic qualities and themes, into various subsections according to the type of film they are associated as. Various film genres are recognisable by the way they are presented and patterned or the way that they portray a certain emotion or feeling, as those of humour or horror. There is no distinct way by which we can define genre. Some films incorporate various aspects of different genres, thus we cannot define exactly what kind of text-book definition genre it is and being that all people are different, a comedy to one person may be a complete bore to the next. In a sense, certain films portray their genre as a subjective opinion. Film genre, in the modern filmic world today, is also very reliant on the actors that star in the feature. Automatically we, as viewers, would associate brawn and large stature with an action film, but occasional films tend to meld these characters into completely different subgenre, giving the film a very hybrid, generic feel to it. Genres are ways of providing films with the intended associations. It is a convention in which people can refer to initially grasp the notion of a film, â€Å"for the vast publicity system that exists around filmmaking, genres are a simple way to characterize film. In fact, reviewers are often central in gathering and crystallizing notions about genres.† (Bordwell & Thompson, 2004: 110). Genres are helpful in the general public as they give spectrum to different people and their different tastes. It also accommodates for any mood one may be in if they wanted to watch a film. It characterizes the films and sorts them into place for the viewer’s pleasure, â€Å"At all levels of the filmmaking and film-viewing processes, then, genres help assure that most members of society share at least some general notions about the many films that compete for our attention.† (Bordwell & Thompson, 2004: 110) Most genres share specific genre conventions. Stereotypical plots or certain predictable characters are expected to appear during a film of a desired genre. These are the conventions which group films into subgenres. Other than visual and audio conventions, those concerning mise-en-scene, cinematography, sound, lighting and editing, genres often also make boundaries around the type of thematic notions that are presented within films.