Saturday, August 31, 2019

PetSmart, Inc Essay

PetSmart, Inc. is the largest specialty retailer of services and solutions for the lifetime needs of pets with more than 885 pet stores in the United States and Canada. It supplies a broad range of pet food and pet supplies that are competitively priced. Many of its stores have in-store cat and dog boarding facilities called as pet hotels. PetSmart provides online pet supplies and pet care information, pet training, pet grooming and pet adoption services. The web site of PetSmart is fairly well developed and communicates a good amount of online information to its visitor with links to specific pets like dogs, cats, fish etc. It also provides a link that will help the visitor to locate the store closest to him. The website has an excellent link called petsmartcharities through which PetSmart is able to clearly communicate its social initiatives of saving and providing a lifelong loving home for every homeless pet. It is also very successful in communicating how the visitor can participate in their social initiatives through the purchase of flowers, collectible dog or cat ornaments and wrapping paper and also silver logo charms as gift for pet-loving friends or family members. The mission or the very purpose of the existence of the company that is ‘providing a lifelong loving home for every pet’ is not clearly communicated to the website visitor and can be identified only if the visitor is looking for it. The website is also ineffective in delivering the message with respect to the ethical values and practices of the company in conducting its business. This is a very critical message in today’s business environment for all the stakeholders of the company, specially the informed investors and the customers. A company’s website is a powerful tool for communicating vital information to the concerned. The company should include a clear mission and vision statement at the very beginning on the webpage ‘about us’. A separate link communicating about its core business values, ethical practices and an ethical code of conduct as followed by the company should also be provided.

Friday, August 30, 2019

Emphasis of Evolution in Texas Science Curriculum Essay

Evolution is known to be the change of the inherited behaviors to a given crowd of living organisms from one given characteristic to the other (Futuyma, 2005). Scientifically, these changes are believed to be caused by the mixture of three significant progressions; of which includes the variation process, the reproduction together with the selection. The behavioral characteristics of a given item vary according to the given population in a location. Biologically, the process is known to be that of the change in the behavioral characteristic of an individual and it is believed that whenever an organism reproduce its young one, they new organism either posses new characteristic or an altered characteristic of the individual (Maynard, & Szathmary, 1997). Thus, we can say that, evolution may occur whenever the original behavioral characteristic of a given item is traced in the new produced item or organism. Literature Review Evolution occurs when these heritable differences become more common or rare in a population. With this idea, may process in the today world have also been under going evolution so as to obtain the best to serve their people. Thus, in this particular paper, we are going to see on the emphasis of the evolution in the Texas science curriculum and see on the way they have affected the system in the region. To be able to understand this idea better, we have to look at the theories that have been formulated for the sake of the evolution in our science world. Darwin’s, have been one of the scientist who have majored in the formulation of the evolution theories that do exist to date. First, there is the theory of evolution basing on the premise, of which he imagines that, improvements of the life from the non-life and pressures a entirely naturalistic in this he suggests that the change in the way of doing things tend to be more of natural than that of trained effort (Denton, 1996). With this, he also assumes that the evolution process the recurrent characteristic of the individual tend to select the good ones only and fade off the negative attribute from the society, and with this, the process has been presumed to be that of slow but sure and thus no one should speed t up as might end up adapting the negative attributes from the past. Darwin’s hypothesis has been also the one for the calamity in the brightness of the tremendous advances that they have made in most of the science subjects in the education system. In the Texas science curriculum, this have been used to advocate for the ignorant in the country and because of this, the scientists tend to think that they have to do something in the nation so as to enlighten the education system in the country. With this, the country have been able to come up with three evolution critics of which they are put in place so that they can be bale to evaluate on the anticipated curriculum customary for the sciences courses in Texas schools (Stutz, 2008). With these critics in places, they have aimed at discussing on the Darwin’s theory that talks about the evolvement of the humans and other living organisms. The group have also been established so that they have to come together to facilitate the discussion on the theories that they exist concerning the evolution process in life (Stutz, 2008). With this, they are targeting to be able to eradicate the limitation together with the present necessities of the theories so as to enable the correct theories to be taught in the curriculum in the schools. This has brought contradiction in the country as there are some of the people who need the evolution to be taught in the school just as it is but not to modify it as they tend to think that, whenever the theory will be altered by the organization, it will be more of a religious theory and not a scientific theory to be taught in the schools (Stutz, 2008). For the process that the country is intending to undertake, the citizens tend to think that the public school students in the locality will drop behind their colleague peers if the country go ahead and evaluate the problems in the evolutional theory, this was protested by the member at the board of the education when the citizen insisted that they needed the original evolution and not the one that have been modified to be taught in the schools. Other than this, the nation is also experiencing the moment that the evolution I the school has to be taught to the student with the emphasizes on the advantages as well as their disadvantages as this will let the students be more logical in the world system other than being taught only the relevant part of it only. The president of the Texas freedom network who is Miller, K. said that the subject has to be taught in the institution as one of the basic science in the system and thus by no mean should it be modified as this will tend to reduce its relevancy to the student in the country (McCaffrey, 2008). To add on that, he also said that the subject of evolution has to be emphasized to all of the students without watering it down in whichever manner with the addition of the intelligent design or its removal of its weakness as all this tend to have meaning and a reason to the theory sated by Darwin’s. The country has continually emphasized on the original teaching of the theory of evolution as being stated by one of the biology professor in the country, he says that the modification of the theories in the education system in the country will harm the education for their students in which he continue to say that this will add more weakness to the evolution and thus weakening the whole understanding together with the passion for the study of science in their coming generation (McCaffrey, 2008). Thus, we can say that, as much as the Texas sciences curriculum tend to think that the y have to modify the evolution theories, some of the scientists in the region still believe in the first theory stated by Darwin’s and thus, they have ended up clinging to the theory of which have helped them in becoming the most recognized country in the science subject. Conclusion In the finale, we can say that, as much as some of the people in the education board in the county see the evolution as being old, they have disapproved by the scientists who have all the reasons as to why the theories should be retained as before.

Thursday, August 29, 2019

Explain Why Treasure Island Is So Highly Regarded Essay

Treasure Island is written using a first person narrative, which has its own advantages and disadvantages. One of the advantages consist of being able to experience how the character narrating feels, in this case we get to learn a lot about Jim Hawkins and how he feels throughout the novel just because he is the narrator of the novel. However, when Jim decides stow away in one of the boats heading for the shore R.L. Stevenson is faced with a problem in that he cannot let the reader know what is happening on board the Hispaniola. Stevenson finds a way around this problem by swapping the narrator to Doctor Livesey. This seems to sort out the problem for a while but if the reader was reading the novel at a fast pace then he might not read the chapter headings and know that the narrator has changed and therefore get confused with what’s happening in the story and where the characters are. I think that R.L. Stevenson knew that this problem would occur somewhere in the novel and anticipated it, he may have even planned it. But he still chose to use the first person narrative, although it is not always the easiest narrative to follow as â€Å"I† and â€Å"we† are used which often makes it hard to distinguish who â€Å"I† and â€Å"we† are, and who the speech is being directed at. However, I believe Stevenson chose this narrative as it makes it easier to let the reader know and understand the feelings of the character that is narrating the novel at any time in the novel. R.L. Stevenson describes the island very well throughout the novel by using all of the senses of a human being: Sight – â€Å"The appearance of the island when I came on deck next morning was altogether changed.† Sound – â€Å"and the whole ship creaking and groaning,† Taste – â€Å"like someone tasting a bad egg.† Smell – â€Å"a smell of sodden leaves and rotting tree trunks.† Touch – â€Å"The Hispaniola was rolling scuppers under in the ocean swell.† The quotation I chose for sight was one of the many I could have used as part three of Treasure Island has many references to sight and how things look. Although there is not nearly as many R.L. Stevenson still makes a point of describing the sounds that are a part of the island and boat, like the creaking of the boat, and the sounds that the birds make. Chapter thirteen contains only one reference to taste and that is in the form of a simile. The effect this has is that most people know or can at least guess what a bad egg tastes like which gives the reader a good idea of how bad the island smelt. The chapter also has only one reference to smell which can also give the reader a good idea of how he island smelt, giving them quite a clear image of the island in their mind’s eye. Explaining how movement and how something feels is a difficult task to achieve when writing a novel, however I feel that R.L. Stevenson manages to accomplish this quite well. Describing how the boat was rolling gently in the water, how the temperature was very hot and describing how Jim had to hold on because he felt as though everything was spinning around him. Part of the tension of Treasure Island is built up at the end of part one when Dr. Livesey tells Squire Trelawney that he is afraid that the Squire will tell someone what the voyage is about and that there is treasure involved, â€Å"‘There’s only one man I’m afraid of.’ `And who’s that?’ cried the squire. `Name the dog, sir!’ `You,’ replied the doctor; `for you cannot hold your tongue.'† The feeling this gives to the reader is one of untrustworthiness and a lack of faithfulness between friends which may cause the reader to become somewhat tense as there is a part of them that knows what is going to happen but they are not completely sure what or when it is going to happen. And when Jim and the doctor receive a letter from the squire it brings the doctor’s fears to light as the letter he receives from the squire says that the squire told every man, woman and child that he met, and that he had hired a man with one leg. At this news, the reader may again feel tension in them, as they do not know what the people the squire told will do or if the man with one leg is the same person that Billy Bones was so scared of. Personally, I think that there are five reasons that this novel is so widely known and read; Firstly the book appeals to people of all ages, it has something that appeals to everyone that can read. Secondly, R.L. Stevenson’s choice of narrative, it lets the reader know exactly how the character narrating feels, making you feel like apart of the novel. Thirdly, The way in which R.L. Stevenson chose to describe the island and everything surrounding it, almost making the Island a character. Fourthly, the amount of tension that is built up throughout the novel is huge; some readers might find the book hard to put down because of the tension as they feel they need to know what will happen next. Lastly, R.L. Stevenson thought up ideas about the setting, story, and narrative issues for Treasure Island himself, instead of doing what a lot of writers might do which is to take ideas from other people, modify them a bit, and then pass them off as their own. Due to this Treasure Island is unpredictable and lively, yet it is as easy to follow as a nursery book. I found Treasure Island to be quite an enjoyable book even though I do not usually read adventure novels.

Wednesday, August 28, 2019

Analysis of the Walt Disney Company Speech or Presentation

Analysis of the Walt Disney Company - Speech or Presentation Example For instance, the company provides transportation such that everybody who checks in ceases to use his car while undertaking any session of the trip until the duration of the tour is over. For a number of reasons, diversification strategies at Disney Company have helped improve the organizations economies of scale. For instance, for instance, the organization spends extra services such as picking up of clients who have booked for flight reservation at Disney and drops them off by the organizational vans. This has led to a tremendous advantage over the other competitors as customers often value protection and privileges of care (Ireland et al 2008). Additionally, the firm enjoys considerable economies of scope with diverse potentials from customers, who would either want to dine, pay for parking or from those seeking for reservation at the respective hotels. For instance, competitive advantage is achieved when customers would buy an all in one card which, allows for payments of the tra nsactions while touring across different departments at Disney magic parks. This is otherwise considered very convenient on the part of the customer who does not have to keep on paying for bills at every point of transaction. In addition, this type of card enables the organization in getting economies of scale because, the card contains a float of money and in the long run the customer will often be find himself to have paid for more than one or more services thus beneficial to the organization(Ireland et al 2008). Corporate level strategy On the part of vertical integration, Walt Disney Company has succeeded tremendously in through owning of several units of the organization as a way of increasing the economies of scale while achieving the best competitive advantage in the market. Much of this evidence is made visible through the integration of several business opportunities such as media networks, parks and resorts, studios and consumable products. A lot of benefits have been expe rienced in several ways where one output becomes a tangible input of the other. For instance, for the customers who checks in for reservation the imminent intention of viewing amenities at the park will end up taking part in the purchases of the consumable products produced by the same organization. From this perspective, the organization is capable of earning additional income by form of integration (Miller 251). Disney has made several strategic alliances with like-minded companies such the Siemens of USA where a 12 year plan has been stipulated of pooling together the relevant technological strategies which were meant to improve family entertainment. This agreement has seen Disney as an organization uses several Siemens products while the other hand, Siemens organization sponsors Disney’s shows. The main aspect of this collaboration was meant to enhance technological transformation of different kinds so as maximize competitive advantage against the other rival companies. U ltimately, Disney has also had some other collaboration with companies such as UTV of India to help in the facilitation of animations and shows while banks in Chicago and San Francisco have since assisted in the provision of financial

Sport marketing assignment Essay Example | Topics and Well Written Essays - 750 words - 1

Sport marketing assignment - Essay Example The class gest says that she loves television so much and she would not be anywhere else working if it is not in television. The class gest has worked for fox television running a pay per view program for a very long time. During all these time she has been working, she has gathered all the tricks and experience that is needed to maneuver the industry. In our class discussion, the class guest was talking about the future of television. The class guest gave an example with her kids on how the future of television is going to be. She said that her kids ask her to play a particular song that has been playing on the radio. She tries to explain to her kids that the song cannot be played back because it is on the radio. The children do not understand why so, and they ask her why it is impossible while they can play back music in there devices (class guest). She bases the future of television on this fact. She reasons that if people can play back music and programs in their devices, then playing back live programs is not so far behind. We are in the technology age that allows for play back of certain live programs as the program continues. Sports are the only programs that are remaining relevant in television. Contact sports enjoy a lot viewing in sports television. This means that the future of television is in broadcasting of live spor ts and mostly in contact sports Introduction of smart TVs and decoders that allow you to play back programs have pushed the broadcasting of live sports to new heights. Imagine playing back a particular seen in a march because you missed it when you went to get a drink and you play back the seen while the live event is going on. This ensures that you will not miss any part of your favorite sport because of unavoidable circumstances. Most companies that supply cable TV will rely on the fact that without cable TV you cannot watch live sports and will exploit this fact for anyone who will try to

Tuesday, August 27, 2019

Corrections- Strategic Plan Essay Example | Topics and Well Written Essays - 1000 words

Corrections- Strategic Plan - Essay Example The Tasmanian Correction prison institution’s mission is to make a valid contribution towards a safer and better Tasmania. This it aims achieving through the ensuring of a secure and safe containment of inmates and the provision of opportunities to the inmates for rehabilitation community engagement as well as personal development (Taylor, 2009). The Tasmanian Correction Prison’s values are direct. They require that the institution continue committing itself to the best principled leadership as well as embracing sets of core values that are directed at guiding the stakeholders’ behavior. This the institution aims to achieve through: Collaboration: to enhance a communal sense of belonging, everyone at Tasmanian is expected to support a mutual understanding of ideas, an open exploration of all our differences, as well as works together constructively and cooperatively with all the stakeholders alike. Technology: this is aimed at develop and ensuring the best information technology strategy, as well as implement systems that are capable of managing the current and the anticipated growth needs (Richards & Lyneham, 2010). Crime prevention as well as safety: this is aimed at the development of a comprehensive crime prevention program, which aid in the establishment of evidence based. This will then aid in the determination of the impact of offender and related programs within the institutions as well as the community, in order to reduce victimization and criminality (Richards & Lyneham, 2010). Transparency, outreach and partnerships: the institution is open to entering partnerships, as well as the development of meaningful programs alongside the processes of promoting a shared responsibility for the safety of the community (Richards & Lyneham, 2010). Tasmanian institution is known to be a secure facility, in which minors are dedicated as delinquents. The institution’s aim is prepare convicted people for a successful community

Monday, August 26, 2019

Robinson Crusoe As A Fully Secular Book And A Deeply Religious One Essay

Robinson Crusoe As A Fully Secular Book And A Deeply Religious One - Essay Example He was a tough man who had led a tough life: lifted as a dissident in the London of the Great Plague and the Great Fire; continuing Newgate penitentiary and the ridicule in ruined middle age; working as a top secret agent and an outrageous journalist until locked up again for debt and disloyalty. Defoe died old, and so might be accounted as a survivor, but he had beared a good distribution of authenticity, and his novels mirror that fortitude. Bloom studies for (1998, Pg 5-6), Defoe appears to be the slightest ironic of writers, and up till now Crusoe's tale is well versed by an irresistible irony. A fidgety vagrant, driven to travel and escapade by forces that he (and the person who reads) cannot understand, Crusoe is restricted to a loneliness that should to infuriate him by rotating him toward an intolerable inwardness. Nevertheless his wisdom succeeds, in spite of his obvious captivity. Defoe takes the contradictory path from the psychologist's path as he explains the consequences of sentiments on the body, not on the mind. Nowhere is this sturdy than in Crusoe's anguish as he visions a shipwreck: "After we had rowed, or rather driven about a league and a half, as we reckoned it, a raging wave, mountain-like, came rolling astern of us, and plainly bade us expect the coup de grace. It took us with such a fury, that it overset the boat at once; and separating us as well from the boat as from one another, gave us no time to say, "O God!" for we were all swallowed up in a moment." (Chapter 3, Wrecked On A Desert Island) Robinson Crusoe As A Fully Secular And Deeply Religious Book According to Ritchie (1997, Pg 98-99), Robinson Crusoe, it might be, is a story in focus. It is a masterwork, and it is a stunning success mainly because Defoe has all through kept constantly to his own intelligence of viewpoint. It is, we know, the tale of a man who is terrified, after many dangers and escapades, unaided upon a desert island. The meager proposal threat and loneliness and a desert island is sufficient to rouse in us the hope of some far land on the confines of the world; of the sun rising and the sun setting; of man, remote from his kind, threatening alone upon the nature of culture and the weird ways of men. "But in reality there are no sunsets and no sunrises; there is no solitude and no soul. There is, on the contrary, staring us full in the face nothing but a large earthenware pot. It was the first of September 1651; that the hero's name is Robinson Crusoe; and that his father has the gout." (Chapter 1, Start In Life) Robinson Crusoe thinks of God: "Sometimes I would expostulate with myself, why providence should thus completely ruin its creatures.... But something always return'd swift upon me to check these thoughts." (Chapter 1, Start In Life) 'God does not live". Crusoe believes of Nature, the fields "adorn'd with flowers and grass, and full of very fine woods," (Chapter 1, Star

Sunday, August 25, 2019

Religion and Faith in Literature Research Paper - 1

Religion and Faith in Literature - Research Paper Example Telling lies has become such a common practice today that sometimes people don’t even realize that they are deceiving their closed ones. People even lie to their parents and children, without even feeling the guilt, as an everyday act. Ericsson in his work â€Å"The Way We Lie† has classified the art of lying into various facets, such as a white lie, deflecting, omission, groupthink and etc. The culture and religion, that an individual belongs to, play a significant role in determining the code of ethics in the life of that person. Precisely speaking there is no culture or religion on earth that accentuates the telling of lies. In the Holy Bible alone, one can come across several stories where subjects lied not only to people but to God too by disobeying His commandments and paid the price. The stories and the incidents mentioned and discussed in the Bible forms the basis of religion in Christianity. These stories help us understand how it is to be a person that is loved by God and that loves God and what are the commandments of God that one has to follow during the course of life. The story about Adam and Eve in Genesis 3, for example, teaches us a great lesson regarding how one should obey the commandments of God and that what could happen if God becomes angry in case one commits some act that is disliked by God. Similarly all the stories mentioned in the Holy Bible a re basically aimed at defining the way how life should be lived in accordance with the will of God. Every story has morale and a message, sometimes explicit and sometimes hidden. It depends upon the reader what he gets out of it. Similar is the case with Rehoboam and Jeroboam story. Rehoboam and Jeroboam are the two men that were chosen by God to rule over Israel after Solomon and David. Rehoboam was the son of Solomon and grandson of David. Solomon was the king of the nation and Rehoboam was the natural heir to the throne. One day God sent messenger Ahijah

Saturday, August 24, 2019

Q Thesis Example | Topics and Well Written Essays - 1250 words

Q - Thesis Example This can be because agility is still new in the world of manufacturing. Nevertheless, it has existed since the 1980s (Garbie, Parsaei, and Leep 2) and has been practiced by manufacturing firms. Agile manufacturing system is similar to value management in the context of concept and purpose. Agile focuses on decreasing time, achieving customer’s satisfaction through fast and quick delivery of products and services, and minimizing surplus inventory. Businesses and organizations of the age of globalization employ many strategies to improve their agility level. Improving organizational strategies, business concepts and innovations, value management and value engineering in construction, are just a few of these innovations. Value management addresses problems which are still unknown but can be addressed to properly when the time comes. It is being conducted by a value management team composed of the stakeholders of the project who use materials and procedures that would provide optimum benefits. All stakeholders have to work together as a team to enforce the necessary measures to minimize unnecessary cost and optimize value for the project. Petroleum companies need innovations as the industry is labor-intensive and requires a great amount of capital in running the business. Reducing operating costs is one of the strategies of petroleum companies. In the corporate world, they have almost the same concept of agility, which is cutting costs and then lowering the operating expenses, and adding the saved money to expenses for the sales force and research and development, or for other important activities in the business. (Graham, Ware, and Williamson 31) Humans create knowledge in social interactions. Petroleum companies create knowledge structures, places and mechanisms for the creation of knowledge, whether this is through the interaction of employees and

Friday, August 23, 2019

Discussion Essay Example | Topics and Well Written Essays - 250 words - 32

Discussion - Essay Example In addition, crowding is usually associated with poverty since poor households are usually at higher risks of catching fire (Jennings, 1996). Fire incidences in crowded areas have always had severe impacts as compared to areas that are less crowded. Usually, low income earning families usually live in masses that include the extended family and friends owing to the lack of affordable housing. This increases the number of victims in cases of fire (Jennings, 1996). In addition, Jennings (1996) argues that when many people are in a household, it makes it difficult to rescue everyone especially for old people and children who cannot run from the fire. Crowded homes are a suggestion that the members are poor, thus their houses possibly lack smoke detectors. In case a fire occurs the occupants will have limited time to escape and thus makes them unable to reach neighboring households and alert or rescue them. It is imperative that safety measures be taken to address the fire issue in crowded areas so as to save lives in case of fire

Thursday, August 22, 2019

Geological Influence on the Battle of Gettysburg Essay Example for Free

Geological Influence on the Battle of Gettysburg Essay Battles fought on land have always been influenced by topography as well as geology. Soil conditions, and types and strengths of bedrock are important considerations for building fortifications. Availability of water may determine where military is installed. Mountainous areas may provide cover for guerilla troops. All such topographical and geological considerations combined are studied by military geologists (Haneberg). The information thus gathered is called â€Å"terrain intelligence (Haneberg). † Geology had a major influence on â€Å"[t]he greatest battle of the Civil War,† that is, the Battle of Gettysburg (Copley). Brown describes the area where the battle was fought thus: Each year thousands of sightseers clamber over Little Round Top and Devils Den on the Gettysburg battlefield, and gaze with awe over the mile of treeless plain across which Pickett’s men charged toward â€Å"the little clump of trees† on July 3, 1863. All are impressed by the rocky heights—the Round Tops, Cemetery Ridge, Cemetery Hill, and Culps Hill—against which Lee’s men hurled themselves in vain throughout three days of bitter fighting. Few, however, know that these heights are the outcrop of a diabase sill, appropriately enough called the Gettysburg sill, that about 200 million years ago intruded the Triassic sandstones and shales that floor the broad Gettysburg plain. Even fewer have any concept of the extent to which the movements of the two armies toward Gettysburg, and the battle itself, were influenced by the geology of the region in which the campaign was conducted. The Gettysburg battlefield covers an area of about 15 square miles. The battle, however, was but the climax of a campaign that covered an area of about 11,000 square miles (Brown). The area of the campaign was 140 miles in length, from Fredericksburg on the Virginian river called Rappahannock to Harrisburg on the Pennsylvanian river called Susquehanna; and 80 miles in width, â€Å"from a line drawn on the southeast through Fredericksburg, Washington, and Baltimore, to the northwestern edge of the Great Valley of Virginia, Maryland, and Pennsylvania (Brown). † The Battle of Gettysburg was fought on lowlands of the Triassic Age and â€Å"rocky ridges† that are believed to have been developed on diabase of the early Jurassic Age (Cuffey et al. ). Militarily, the most important hills of diabase were said to have been â€Å"formed on a York Haven Diabase sill running from Culp’s Hill†¦ in the north through Cemetery Hill, Cemetery Ridge, and Little Round Top to Big Round Top†¦ in the south – the Union ‘fishhook’ (Cuffey et al. ). † The Battle of Gettysburg began when Confederate General Lee commanded his troops on to Gettysburg, Pennsylvania, referred to as â€Å"the hub for ten roads (Cuffey et al. ). † This was done in order to drive out the army of the Union from an outcrop of Gettysburg sill (Brown). G. G. Meade responded by marching north and ordering the Federal armies to reach the battlefield (Cuffey et al. ). On the first day of the battle, July 1, 1863, deep cuts on a railroad that was unfinished played an essential role in the action (Copley; Cuffey et al. ). During late afternoon, the Union had to start using the diabase-sill strategically for its defense (Cuffey et al. ). The area where the Union army defended itself was shaped like the hook of a fish (Copley). It extended to the north approximately three miles from the Round Top through the Little Round Top and the Cemetery Ridge to the Cemetery Hill; it also extended south and east to the barb of the area shaped as a fish hook, that is, Culps Hill. The Round Top is known to stand at approximately 785 feet, while the Little Round Top stands at 650 feet above sea level. Between the Cemetery Hill and the Little Round Top, the ridge is said to drop to approximately 570 feet above sea level. The town of Gettysburg itself has an elevation of around 500 feet above sea level (Brown). The fish hook was strategically important on the second day of the battle as well. The Seminary Ridge is â€Å"the trace of a diabase dike,† an offshoot of the Gettysburg sill; it rises approximately 560 feet; but where it rises to the north, it is around 650 feet at the Oak Ridge (Brown). Confederates were positioned on Seminary Ridge before they tried to move across the lowland in order to displace the Union army. The latter moved away from the fish hook before returning to it again as the Confederates had started to gain some ground. In the evening, the Confederates tried to displace â€Å"the Federal right (Cuffey et al. ). † However, â€Å"breastworks of timber† in addition to boulders of diabase on the Culp’s Hill proved themselves almost invincible (Cuffey et al. ). On the third day of the battle, the â€Å"Union center† was heavily bombarded (Cuffey et al. ). The Confederates had launched the attack from their previous position against the Cemetery Ridge. A downpour accompanied this day of the battle. According to Cuffey et al. , â€Å"[d]espite the difficulty of entrenching, crude fences of diabase boulders had provided the Federals with adequate cover in many sectors. † The importance of the diabase sill to the Battle of Gettysburg must be reconsidered in order to understand the outcome of the battle. The diabase sill is resistant; it is closely attached to the surface. As a matter of fact, the bedrock of diabase is so closely attached to the surface that it is virtually impossible for army men to dig in. Stone walls are the only form of protection, for example, rock outcrops and boulders that are isolated. Because the Union army was unable to find a place to thoroughly entrench itself, it suffered a great number of casualties. This was the defending side throughout the Battle of Gettysburg. The Confederates, on the other hand, suffered a greater number of casualties while trying to attack the Union army on the flanks and in the center. Because the Confederates were well-entrenched, they did not lose as many men as the Union army when the latter attacked them (Brown). On July 4, the two armies were burying the men they had lost and succoring those that were suffering from wounds. A day before they had faced each other across the Rapidan River. The bridges across the river had to be rebuilt within ten days before the Confederates could try to cross it. But, as soon as it was made possible to cross the Rapidan River, the armies found themselves facing each other across the river, once again, in the position they had occupied on July 3 (Brown). Geology as well as topography came into focus for a victory another time. The most terrain-intelligent army was, of course, expected to win the ultimate war. Works Cited Brown, Andrew. â€Å"Geology and the Gettysburg Campaign. † Commonwealth of Pennsylvania. Jun 2006. 23 Oct 2008. http://www. dcnr. state. pa. us/topogeo/education/es5/es5. pdf. Copley, Judi. â€Å"The Battle of Gettysberg. † 23 Oct 2008. http://www. scsc. k12. ar. us/2000backeast/trip/members/CopleyJ/Default. htm. Haneberg, William C. â€Å"Geologic and Topographical Influences on Military and Intelligence Operations. † 2008. 23 Oct 2008. http://www. espionageinfo. com/Fo-Gs/Geologic-and-Topographical-Influences-on-Military-and-Intelligence-Operations. html. Cuffey, Roger J. , Robert C. Smith, John C. Neubaum, Richard C. Keen, Jon D. Inners, and Victor A. Neubaum. â€Å"Lee vs. Meade at Gettysburg (July 1-3,1863): The influence of topography and geology on command decisions and battlefield tactics. † Pennsylvania Department of Conservation and Natural Resources and State Tree. 23 Oct 2008. http://www. dcnr. state. pa. us/topogeo/gsaabstr/gettysburg. aspx.

Wednesday, August 21, 2019

American Impress credit card Essay Example for Free

American Impress credit card Essay 1. Betty is married to Abel, a successful engineer. They have a joint account which gives them both an American Impress credit card, which they have had for years. They have always made the payments on time and over the years the credit limit has gone up and up. Abel has a skiing accident and dies. A month later, Betty gets a notice that her American Impress card has been cancelled. To make matters worse, the fact that her card has been cancelled is reported to a credit reporting company, which hurts Betty’s credit score and makes it harder for her to get credit. Does the law provide any protections for Betty? What can she do? No, the law does not provide protection for Betty because when a credit card account is a joint account and one spouse dies, the responsibility of handling that account will fall on the surviving party. Betty can protect herself by contacting the credit card company, or pay off the balance on the credit card account and close it, or transfer the account to her name and pay off the remaining balance. If she decides to transfer the account to her name, the credit card company may alter the terms of the original agreement. 2. An elderly lady with poor health and poor eyesight is approached by a door to door salesman. He tells her that if she buys a sectional greenhouse from his company, she can make lots of money raising and selling flowers. She gives him a check for several thousand dollars, way more than she can afford, and signs a contract promising to make monthly payments. He delivers to her house a bunch of greenhouse sections, which have to be assembled. Can she get out of the contract and get her money back? Are there other facts which if known would help you answer this question? No, she cannot get out of the contract if she meets the three main elements that are needed for a contract to be enforceable, they are: Offer: Which must be clearly stated and presented to the offered, this can be in either an oral or written form. Acceptance: Acceptance must be acceptance for the exact offer which was stated, any deviation may count as a counter offer and lead to the contract being unenforceable Consideration: Something of value given by both parties to a contract that induces them to enter into the agreement to exchange mutual performances. There are also other elements to a legally binding contract such as expressed and implied terms of the contract. Implied terms can consist of terms implied by law e. g. The Statute of Frauds requires the sale of land to be in writing etc. , these laws change from jurisdiction to jurisdiction so you would have to contact an attorney in your area to find out more. For a contract to be concluded, performance must be followed down to the letter of what was contracted for, courts give very little leniency in this area. Its also worth checking out the law surrounding Duress, Misrepresentation and Undue Influence to fully cover you in the event of a breach by either party.

The Theories And Implications On Corporate Financial Decisions Finance Essay

The Theories And Implications On Corporate Financial Decisions Finance Essay This paper concerns mainly on exploring the area of corporate valuation models and their implications in assessing the value of corporate firms. The models to be reviewed and analyzed are Economic Value Added (EVA), Capital Asset Pricing Model (CAPM) and Free Cash Flow (FCF). The selected models would be used on 5 publicly listed firms in the Bursa Malaysia. The aim of this study is to analyze the three models on how it can be utilized in helping a firm to create, sustain and access its corporate value. This paper consists of six parts, which are introduction, literature review, importance of theories and its implications on corporate financial decisions in Malaysia, application of concepts, tenets, fundamentals, technical issues, etc to the five chosen firms, methodology to analyze 5 years financial data of the selected firms and conclusion. Introduction In this paper, three corporate valuation models have been chosen as our main concern, which are Economic Value Added (EVA), Capital Asset Pricing Model (CAPM) and Free Cash Flow (FCF). We then apply the selected valuation models and methodologies to five publicly listed firms in the Bursa Malaysia from the food and beverage industry. The five companies are Dutch Lady Milk Industries, Fraser Neave Holdings Berhad, Nestle Ltd, QSR Brands Bhd and Yeo Hiap Seng (M) Berhad. Summary will be made by reviewing ten journal articles under the literature review part for a preliminary understanding of the models. This paper includes four journal articles for EVA as well as another seven journal articles for FCF and CAPM. In addition, we will identify the importance of the theories and describe its implication on corporate financial decisions in Malaysia. This study has provided us a great learning opportunity by accessing the company value of the real corporate firms. It also provides us a lear ning platform in how to utilize the valuation tools to evaluate companys performance for investment purpose in the future. Literature Review Economic Value Added (EVA) Economic Value Added (EVA) is a corporate valuation tool developed by Stern Stewart Co. to assist managers in their decision making by incorporate two basic principle of finance inside. The first principle is the financial goal of any company for shareholders wealth maximization and the second one is that a companys corporate value is based on the extent to which investors expect future earnings to exceed or fall short of the cost of capital. Another way to explain is that, EVA is developed to align decisions with shareholders wealth. According to Stewarts study in 1994, it is proved that EVA as the single best tool of measuring wealth creation on a contemporaneous basis and the result in describing changes in shareholders wealth is about 50 percent better than its greatest accounting-based rival of EPS, Return on Asset (ROA) and Return on Equity (ROE). EVA model assist managers in better investment decisions making, to identify improvement opportunities as well as to consider the short-term and long-term benefits for a firm. Based on Taubs study in 2003, it is observes that most of the valuation models used among industries focus only on the financial or accounting information. Unlike EVA, it combines factors like accounting, market and economy information in a companys performance evaluation. Various studies have proved the superiority of using EVA over other traditional models for evaluate companys performance due to its transparency and capacity to obtain more important information. According to Kudla and Arendts study in 2000, EVA can eliminate the arising conflicts and confusion when a company employs multiple measures like EPS, Return on Investment (ROI), Return on Equity (ROE) and Net Operating Profit after Tax (NOPAT). Furthermore, EVA can also be used as a tool to eliminate economic distortions of General Accepted Accounting Practice (GAAP) to focus decisions on the actual economic outcomes. It promotes better evaluation of decisions that have an impact on the income statement and balance sheet or trade-offs between each other. Also, EVA managed to cover every aspect of the managerial cycle through the use of the capital charge against NOPAT. There are also studies indicate that EVA is a superior measure of the managerial decisions quality. From Fishers study in 1995, EVA is suggested to be treated as a reliable pointer in estimating a firms value growth in the future. Also, according to Sterns study in 1989, the purpose of EVA is to change the management behavior as well as their performance, leading managers to act in the owners interest. It can be used as a motivation tool to encourage managers to create shareholder value by being a basis for management compensation. Importance of the theories and implications on corporate financial decisions in Malaysia As business grows wider and complex across the border, there is a demand for better valuation tool to evaluate the performance of the business. It is important to adopt more innovative performance metrics so that the companys management behaviors can be closely monitored to achieve the goal of maximizing the shareholders benefits. It is also important to access a firms value for any decision making regarding business expansion or contraction. According to the article of The Chartered Institute of Management Accountants (CIMA), Latest Trends in Corporate Performance Measurement (1992), many companies were experiencing difficulties in implementing measurement frameworks and these statements have been brought to today. There is a study conducted by Dr. Issham Ismail in Malaysia with the purpose to examine the relationship between EVA and the company performance in Malaysia. The study indicates that EVA has a strong relationship with stock return as compared to other measures due to its focus on long-term performance. EVA enhances stock performances by including more informational content in describing the stock returns. According to the study, EVA is considered as a better alternative to other traditional valuation tools such as EPS, ROE, etc. Its characteristic of transparency and capacity to provide more important information helps investors in Malaysia to make better investment decision as well as the resources allocations decisions. Besides that, EVA and MVA can be also treated as performance measures and signals for any strategic change (Lehn and Makhija, 1996). There is another study conducted by Norfarah, Suhaila and Wan Mansor in Malaysia regarding the adoption of EVA on real estate corporations in Malaysia. In Malaysia, real estate sectors have grown to become a large sector and continue to develop for the past two decades even through difficult economic period. Some has been performing well in the industry such as IOI Properties and Boustead Properties Bhd while some of them are experiencing hardship like Country Heights, Land General, and Damansara Realty. In order to identify the company potential of adding more shareholders value, an alternative corporate valuation model has been introduced, which is EVA, proposed by Stern Stewart Management Services. The adoption of EVA is considered to be more comprehensive as its measurement tool provides a clearer picture of whether a business is raising or reducing shareholder wealth. Most of the multinational companies such as Sony, Coca-Cola and Monsanto have formally announced their adoption and implementation of EVA as management systems in their quest of the value. On the other hand, EVA based performance plan produces positive result towards a company management. There is a study on the effects of adopting management bonus plans based on residual income measures. According to Wallaces study in 1997, EVA based performance plan motivates managers to utilize companys assets in a more productive and efficient way. This hence, reduce of the conflict between managers and shareholders interest and the decreasing agency cost eventually help the company to boost its profit after the adoption of the residual income based incentives plans. As a result, EVAs superiority is proved in encouraging managers for shareholder wealth creation. However, in order to work out the EVA compensation system, it requires large commutation effort and extensive training for both managers and their subordinates. Lastly, EVA and its practical applications as a management control system for performance measurement which helps manager to make better investment decisions. Methodology Economic Value Added is an evaluation tools used to examine a companys true economic profitability because it factors in net operating income after taxes interest minus the opportunity cost of capital deployed to earn that net operating income. In other words, EVA tells whether a companys financial performance is higher or lower than the minimum required rate of return for shareholders or business lenders. Besides that, EVA also tells investors if their amount of invested capital in the business is providing them a higher return than their minimum, or if it is better to shift their capital elsewhere. There are few steps required in calculating EVA and this is how Economic Value Added (EVA) is used by the financial analysts. Annual reports from the five selected firms have been sourced respectively in this report. First of all, we have to identify the earnings before interest and tax (EBIT) from the income statement. Next we have to calculate the Net Operating Profit after Taxes (NOPAT) by deducting the Income Tax Expenses from the EBIT. Afterwards, we need to determine the invested capital deployed in the business by deducting Non-interest Bearing Current Liabilities from Total Assets. Then, we need to calculate the Weighted Average Cost of Capital (WACC) using the Capital Asset Pricing Model (CAPM). WACC calculated by adding Risk Free Rate with Beta multiply by Market Risk Premium, where Market Risk Premium is calculated by deducting Risk Free Rate from Market Return. Take WACC multiply with the Invested Capital and finally, EVA can be found by deducting the multiplication of WA CC and Invested Capital from the Net Operating Profit after Tax. The calculation formulas for EVA are as follows: EVA = NOPAT (WACC * Invested Capital) where, NOPAT = Profit Lost Before Interest and Tax Income Tax Expenses and, Invested Capital = Total Assets Non-interest bearing Current Liabilities and, Cost of Equity, WACC is calculated by using CAPM Model where, WACC = Risk Free Rate + ( Beta * Market Risk Premium ) where, Market Risk Premium = Market Return Risk Free Rate Free Cash Flow Literature Review Free cash flow (FCF) refers to the cash generated by the assets of the business available for distribution to all the shareholders and it cant be affected by the businesss capital structure. A firms stock value is calculated by projecting the future free cash flow (FCF) that will be generated by the business assets and then compute the present value of FCF by discounting them at the appropriate required rate of return. FCF appeared to be an appropriate valuation model to be used when (1) the firm doesnt pay dividends at all or pays out lesser dividends than dictated by its cash flow, (2) free cash flow tracks profitability or (3) the analyst takes a corporate control perspective. The present value of FCF is the most fundamentally useful valuation tool used in assisting any investing decisions like investment opportunities appraisal and corporate valuation (Arumugam, 2007). It can also be used to measure the potential of investment opportunities as well as to forecast the firms future performance by accessing its corporate value. Based on an article written by Ben Lardes in March 2010, a companys free cash flow reflects a lot of information about the company performance. Obviously the higher the free cash flow of a business is, the more money you can expect to earn as the businesss shareholder. Every firm has different FCF, which is depends on how well is their performance over the periods. For instance, a well performing firm may have a good amount of positive cash flows. On the contrary, a firm may not have a positive cash flow at all if it has been struggling to succeed. A firm will have a negative FCF if its expenses are exceeding its income. By looking at the FCF, a company can decide whether to go on with its current business direction or to change its management operation. However, negative FCF does not always signify problems within a business. The negative FCF may be due to the preparation of business expansion in the future. The age of a company and its circumstances should always be in the consider ation before judging it purely based on its free cash flow. According to the study conducted by McClure, although FCF has its merits, it still has some limitations and the most significant one would be the garbage in, garbage out principle. Predicted FCF is used as the main input in DCF calculation to evaluate any investment decisions, thus the quality of FCF is very important in the valuation process in order to get an appropriate and reliable outcome. If all the FCF values have found to be inaccurate, then it will be useless in assessing the firms stock price. Therefore, the ability to make good future projections of FCF is critical. The more you confident about the future cash flow, the better project evaluation you can made, leading to a desirable profit from your investment. In this case, the forecast of potential cash flow appeared to be the tricky part, as you are required to prepare a full financial model to get a better estimation. This requires some serious analysis of the business, the macro-economic environment, the legal and regu latory framework and the competitive landscape (Cartmail, 2010). Importance of the Theories Implications on Corporate Financial Decisions in Malaysia Investing decisions can be made based on a simple analysis like selecting your desire firm with a product you expect to have high demand in the future. The underlying expectation is that the company will continue to produce and sell high-demand products and will generate cash flow back to the business. The second part is that the companys management will know where to spend this cash to continue its operations whereas the third assumption is that all of these expected future cash flows are worth more today than the stocks current price.   Free cash flow (FCF) tracks the remaining operating cash flow for the shareholders after laying out the money a firm required to expand or sustain its asset base. It is important as it allows business to pursue more opportunities that could enhance shareholders value. Present value of all free cash flows is the key indicator of a firms equity value. The growing FCF is often a prelude to increased profits. Firms that facing surging FCF as a result of revenue growth, debt elimination, improvement of operational efficiency and others, can reward their investors tomorrow. Thats the reason investors cherish FCF as a sound valuation metric. The odds are good when a firms FCF is increasing, it is believed that the firms share value will soon be increased as well. An important thing to note is that, negative FCF is not bad in itself, however it could represent a sign that a firm is engaging in large investments (Investopedia, n.d.). DCF is one of the favorable and sound tools to be used in corporate valuation because it can produce outcome, which has the closest value to an intrinsic stock value. Unlike other valuation tools like P/E ratio, DCF analysis relies on FCF. It is believed that FCF reflects a clearer view of a firms ability in generating cash, as profits can sometimes be clouded by accounting tricks, but cash flow cannot. The reason is because cash flow generation is hardly to be influenced by accounting assumptions and practices. Also, FCF is a trustworthy measure that eliminates most of the arbitrariness and guesstimates found in reported profits (Investopedia, n.d.). Other than that, FCF can be considered as a forward-looking metric because it depends more on future prospects rather than past results. In addition, it also enables expected operating strategies to be included in the valuation as it allows varies business components to be valued separately. On the other hand, free cash flow theory has important implications for the leverage effect on a firms investment financing decisions. The FCF model implies that for an over-investor, an increase in leverage should lead to a reduction in unprofitable investment spending. Additional leverage will leave less amount of free cash flow at the discretion of the managers at the same time that it increases the intensity level at which the companys activities can be closely monitored. Overall investment will become more efficient as the firm substitutes contractually obligated debt service for negative net present value investments. Empirically, the reduction in unprofitable investment spending should contribute to an increase in the firms stock price that reflects the improved efficiency of managerial investment decisions. Methodology Free Cash Flow (FCF) is the cash generated by the companys assets and it is available for distribution to all the shareholders. It is used to tracks the remaining operating cash flow available for the shareholders after laying out the money a firm required to expand or sustain its asset base. It is calculated by deducting Net Investment in Operating Capital from Net Operating Profit after Tax (NOPAT), where NOPAT is calculated by deducting Income Tax Expenses from the Profit Lost before Interest and Tax (EBIT) and Net Investment in Operating Capital is obtained by using the Operating Capital at time t to minus the Operating Capital at time t-1. Operating Capital is calculated by adding up Net Operating Working Capital (NOWC) and Net fixed Assets, where NOWC is calculated by deducting Non-interest Bearing Current Liabilities from Operating Current Assets. The calculation for FCF is as followed: Free Cash Flow (FCF) = Net Operating Profit after Tax (NOPAT) Net Investment in Operating Capital where, NOPAT = Profit Loss before Interest and Tax (EBIT) Income Tax Expenses and, Net Investment in Operating Capital = Operating Capital at time t Operating Capital at time t-1 where, Operating Capital = Net Operating Working Capital (NOWC) + Net fixed Assets where, NOWC = Operating Current Assets Non-interest bearing Current Liabilities Capital Asset Pricing Model Literature Review Basically, Capital Asset Pricing Model (CAPM) is based on Markowitz (1959) and Tobin (1958), who introduced the risk-return portfolio theory. The primary implication of the CAPM is the mean-variance efficiency of the market portfolio. The efficiency of the market portfolio implies that the positive linear relationship between expected returns and market betas is exists and only beta is playing a significant role in explaining the expected returns of stocks. Several attempts have been done to test the implications of the CAPM using historical rates of returns of securities and historical rates of return on a market index. The CAPM is relies on several assumptions with the fact that every investor wants to maximize the expected satisfaction of their wealth. An addition to the risk aversion is that all of them are having the same expectations towards the returns of the securities. The returns of the securities follow a normal distribution, which characterizes the phenomenon of homoscedasticity. Besides that, CAPM also assume that every investor is allowed to borrow any amount of money at the risk free rate. Finally, there are no taxes or other barriers which lead to an imperfection of every market, that is, the market is assume to be in equilibrium and have a perfect competition among all the participants in the market. According to Grigoris and Stavross study in 2006, one of the earliest empirical studies that support the theory of CAPM is that of Black, Jensen and Scholes [1972]. By using monthly data of return and portfolios rather than individual stocks, Black et al tested whether the cross-section of expected returns is linear in beta. By constructing a portfolio made up by an amount of securities, investors managed to diversify away most of the firm-specific risk, thus increasing the precision of the beta estimates and the expected rate of return of the portfolio. This approach eliminates the statistical problems that arise from measurement errors in beta estimates. The data found to be consistent with the predictions of the CAPM, at which the relationship between the average return and beta is close to linear and that portfolios with high (low) betas will have high (low) average returns. There is another classic empirical study that supports the theory conducted by Fama and McBeth in 1973. In the study, they examined whether there is a positive linear relation between average returns and beta. In addition, the author also investigated whether the squared value of beta and the volatility of asset returns can explain the residual variation in average returns across assets that are not explained by beta alone. There are several studies in the early 1980s suggested that there were deviations from the CAPM risk return trade-off due to other variables that affect this tradeoff. The objective of the studies was to find the missing components that CAPM omitted in explaining the risk-return trade-off and to identify the variables that created those deviations. Banz [1981] tested the CAPM by examining whether the size of firms can explain the residual variation in average returns across assets that remain unexplained by the CAPMs beta. CAPM is being challenged by indicating that firm size does explain the cross sectional-variation in average returns on a particular collection of assets better than beta. The author concluded that the average returns on stocks of small firms were higher than the average returns on stocks of large firms, vice versa. This study has known as the size effect. The general reaction to Banzs [1981] findings, that CAPM may be missing some aspects of reality, was to support the view that although the data may suggest deviations from CAPM, these deviations are not as significant to invalidate the theory. Importance of the theories and implications on corporate financial decisions in Malaysia CAPM, which is a theoretical representation of the financial markets behavior, can be used in the estimation of a companys cost of capital. Despite the limitations, the model can be a superior addition to the analytical tool kit of financial manager. The modern financial theory relies on three major assumptions. First, we assume the participants in the securities market are dominated by rational, at which all the investors are risk averse. Risk-averse person often seek to maximize satisfaction from the returns on their investment. CAPM also assume a perfect competitive market, which is in the equilibrium. It means that the financial market is populated with highly sophisticated and well informed buyers and sellers, meaning that the financial market has the characteristic of transparency. The third assumption implies that investors will choose to hold diversified portfolios, means that every investor wants to hold a portfolio that could reflects the stock market as a whole. Although i t is impossible to own the market portfolio, it is relatively easy and inexpensive for investors to eliminate specific or unsystematic risk and construct a portfolio that tracks the stock market through diversification. Another significant problem is that, it is not possible for investors to borrow at the risk-free rate in the real world. This is because the risk associated with individual investor is particularly higher than the risk associated with the Government. This inability to borrow at the risk-free rate means that the slope of the SML is shallower in practice than in theory. However, CAPM is generally considered as a better method to calculate the cost of equity and it explicitly takes into account the sensitivity of a companys security return to market risk. It is clearly superior to the WACC in providing discount rates to be used in investment appraisal. Research has shown the CAPM to stand up well to criticism, although the arguments against CAPM have been increasing in the recent years. Investment managers in Malaysia have widely applied CAPM as well as its sophisticated extension as the investment valuation metric. CAPMs application to corporate finance is the recent development. Although it has been employed in many utility rate-setting proceedings, it has yet to gain widespread use in corporate circles for estimating companies cost of equity. Methodology The Capital Asset Pricing Model indicates a simple linear relationship between expected rate of return and systematic risk or market risk of a security or portfolio. The model is an extension of Markowitzs (1952) portfolio theory. The researchers who are commonly credited with the CAPM development are Sharpe (1964), Linter (1965) and Black (1972) and that is the reason CAPM is normally referred as SLB model. Markowitz (1952) developed a concept of portfolio efficiency through the combination of risky assets that minimizes risk for a given return or maximizes return for a given risk. Variance of expected returns has been used as the measure of risk and then the efficient portfolio will be developed to minimize risk for a given rate of return. The equation of CAPM indicates the relationship between cost of capital and market returns. The general idea behind CAPM is that investors need to be compensated for two reasons: time value of money  and risk. The time value of money is represented by the risk-free rate, Rf  in the equation and investors are being compensated for the forgone opportunity cost and time value of money due to their investment over a period of time. The other half of the equation represents the risk and the risk premium is the compensation for the investors for taking on any additional risk. It is calculated by using a risk measure (Beta) to the market premium (Rm-rf). The calculation of CAPM is as followed: Ri = Rf + ( Beta * Market Risk Premium ) where, Market Risk Premium = Rm Rf where, Ri = return on equity or portfolio Rm = return on the market portfolio Rf = return on risk-free asset Beta = sensitivity of security or portfolio to the systematic risk The equation indicates that the expected rate of return on asset i is equal to the rate of return on the risk-free asset plus a risk premium. The risk premium is calculated by multiplying beta with the difference between the expected rate of the return of the market portfolio and the risk-free rate. Risk free rate can be obtained from the return on Malaysian Treasury bill at particular time of the stock trading while beta can be calculate from the historical prices of stock and the market and the market return can be calculated based on the market index. To calculate the beta value, we need to first calculate the covariance of the security and the market. Second, we need to calculate the variance from market return. Next, we need to divide covariance of the particular security and market by variance of market to obtain the value of beta.

Tuesday, August 20, 2019

Expanation Of A Rose For Emily :: essays research papers

“A Rose for Emily'; William Faulkner wrote the short story “A Rose for Emily';. It was published in 1930. The story was set in the Deep South, Jefferson to be precise. The time period was from 1884 to 1920. Emily Grierson was the main character in the story. Faulkner uses characterization to revel the character of Emily, he expresses the content of her character through physical description, through her actions, words, and feelings, through a narrator’s direct comments about the character’s nature and through the actions, words, and feelings of other characters. In the story “A Rose for Emily';, the main conflict was an external one, it was Emily Grierson versus society. The protagonist in the story was the town in which Emily lived in. Society expected her to behave in a certain way; like a lady because of the family background she came from. She apparently was raised in a wealthy family. The town saw Emily as “a fallen monument'; after her death (414). When she was alive, the town thought of her as “a tradition, a duty, and a care; a sort of hereditary obligation upon the town';(414). The town had no chose but to deal with Emily. When the town started to change Emily refused to do so and it was apparent that the town saw her house as “an eyesore among eyesores';(414). The town was very interested in her relationship with Homer Barron a foreman that was working on the contract for paving the sidewalks in the town. They were pleased at first but later they kind of had mixed feelings saying that she as “a Grierson would not think seriously of a Northerner, a day laborer';(417). Emily is the antagonist in the story, she is stuck in time, she absolutely refuses to change despite the fact that society was changing around her. She lives as a recluse for many years “No visitor had passed since she ceased giving china painting lessons eight or then years ago';(414). Emily removed herself from society through her actions “after her father’s death, she went out very little; after her sweetheart went away, people hardly saw her at all';(415). After the death of her father, Emily’s push against society was stronger than ever. This was evident with the tax situation, she did not want to pay her taxes because she had them remitted in the past and wasn’t going to change that fact.

Monday, August 19, 2019

Different Variables Changing the Rate of Reaction :: Reaction Rates Science Gases Essays

Different Variables Changing the Rate of Reaction To show that different variables can change the rate of reactions e.g. make them faster or slower. Theory: - That changing the variables in a reaction such as concentration, temperature and surface area will increase or decrease the rate of reaction. This would happen because, if you changed the concentration of a solution to a higher concentration the rate of reaction would increases, as there are more particles in the solution which means the particles would collide more. As they are colliding more, particles collide with the other substance making the reaction time much farter and greater. Low Concentration = Slower Reaction High Concentration = Faster Reaction Less Particles More Particles Equipment:- Chronicle Flask Measuring Cylinder Gas syringe Beaker Calcium Carbonate Stopwatch Pestle and Mortar Boss and Clamp Hydrochloric Acid Clamp stand But and Tube Measuring Scales Safety: - As acid and Bunsen's may be being used safety goggles should be worn at all times and all hair tied back. As glass is being used all bags should not be in the corridor and all should be careful when handling glass in case of breakage. All science classroom safety rules should be followed to ensure a safe environment. Prediction: - In our experiment we shall be changing the concentration of the solution, making the solution weaker and stronger. I predict that when the solution has been weakened by water to make it less concentrated the rate of reaction will be slower and weaker. This will happen as there are less particles of hydrochloric acid reacting with the calcium carbonate, the fewer amounts of particles the less amount collisions with the calcium carbonate. Therefore when the hydrochloric acid is strengthened by doubling the amount of hydrochloric acid and adding it with the same amount of calcium carbonate the reaction will be stronger and quicker. This will occur as there are more particles in the solution reacting with the calcium carbonate, as there are more particles in the solution the number in collisions will greatly quickening the reaction time. Method: - After all equipment has been collected and set up (e.g. clamp stand), and all safety rules are followed. First weigh the amount of calcium carbonate you will use i.e. 4g. Then decide if you will change the surface area, doing this will quicken or slow down the experiment. To change the surface area put your calcium carbonate in a pestle and mortar and grind down the chips into a powder, small chips or leave it in the size given. After you have decide and carried out this put the calcium carbonate into the chronicle flask. Then decide if you will change the concentration of the hydrochloric acid, to

Sunday, August 18, 2019

A Nightmare On Elm Street :: essays research papers fc

  Ã‚  Ã‚  Ã‚  Ã‚  At a time when the stalker movie had been exploited to all ends and the image of mute, staggering, vicious killers had been etched into society’s consciousness to the point of exhaustion, a new kid entered the block. The year was 1984 and it was time for a new villain to enter into the horror genre. A villain that was agile, intelligent, almost inviolable yet viscous, and by all means deadly. A Nightmare on Elm Street introduced the distinctive presence of Fred Krueger to the horror industry and to the audience. Freddy Krueger took the center stage and with him a new era of horror films began. This horribly scarred man who wore a ragged slouch hat, dirty red-and-green striped sweater, and a glove outfitted with knives at the fingers reinvented the stalker genre like no other film had. Fred Krueger breathed new life into the dying horror genre of the early 1980’s. Horror films are designed to frighten the audience and engage them in their worst fears, while captivating and entertaining at the same time. Horror films often center on the darker side of life, on what is forbidden and strange. These films play with society’s fears, its nightmare’s and vulnerability, the terror of the unknown, the fear of death, the loss of identity, and the fear of sexuality. Horror films are generally set in spooky old mansions, fog-ridden areas, or dark locales with unknown human, supernatural or grotesque creatures lurking about. These creatures can range from vampires, madmen, devils, unfriendly ghosts, monsters, mad scientists, demons, zombies, evil spirits, satanic villains, the possessed, werewolves and freaks to the unseen and even the mere presence of evil. Within the genre of horror films falls the sub-genre of teen slasher/stalker films. These teen slasher/stalker films take the horror genre film characteristics into account, however they add more to the formula. More violence, sadism, brutality, and graphic blood and gore are used to increase the terror factor. Sexuality and gratuitous nudity are also key characteristic of many of these films. Imitations and numerous sequels are also a common characteristic of teen slasher/stalker films as well. A Nightmare on Elm Street and all of the following six sequels fall into its own sub-genre of the teen slasher/stalker sub-genre as well, know as the Nightmare on Elm Street Series. This series of films adds a new dimension to the typical teen slasher/stalker film, depth of character and story.

Saturday, August 17, 2019

Decision making software Essay

QUESTION 1 Life Orientation is an umbrella term which encompasses all the work that teachers should be doing with learners and include school guidance, counselling and life skills. QUESTION 2 Acceptance is concerned with all aspects of learning. QUESTION 3 Three (3) different types of thought developments can be differentiated. QUESTION 4 An intensive, extended career education programme helps learners to gain knowledge of who they are. QUESTION 5 Lindhard and Oosthuizen differentiate between the following principles of decision making, namely: aims and value; information; solution and decision making. QUESTION 6 A facilitative process is where the individual looks at his/her own interests. QUESTION 7 Assessment should only focus on the learner’s intellectual abilities. QUESTION 8 Observation is an exploratory technique that should be part of every educator’s role. QUESTION 9 The implication of the structured interview is that the interviewer and the learner encounter each other as equal partners. QUESTION 10 Individual counselling is predominantly used as a mode of counselling in school settings. QUESTION 11 In the teaching of Life Skills education the learner is the centre. ETH203Q/101 13 QUESTION 12 In educational support the content should be presented in such a way that the learners themselves achieve personalization. QUESTION 13 Study methods and reading skills are categorized as personal skills. QUESTION 14 Compiling a budget and writing a CV are categorized as survival skills. QUESTION 15 Imagining are dependent upon the senses and is a precondition for learning. QUESTION 16 The learner is able to transcend reality and enter a world of â€Å"nonreality† through the process of personalization. QUESTION 17 The composite interview method is made up of the best elements from the direct and indirect interviews. QUESTION 18 The three main considerations governing a career choice are job description, working conditions and job opportunities. QUESTION 19 In the decision making process the delaying decider is the â€Å"whatever will be, will be† type. QUESTION 20 During observation the learner is always the object. (20)

Friday, August 16, 2019

Does Holding the Olympic Games Have Benefits for the Host Country?

AGRUMENTATIVE ESSAY Does holding the Olympic Games have benefits for the host country? In recent years, the Olympic Games have developed into one of the most significant mega-international sporting events (Roche,2000). More and more cities are bidding to host the Olympics and increasingly money are invested in Olympic bids, which is due to the reason that the government believe that they could get benefits from such an event. During the proceeding of the 2012 London Olympic Games, amount of people in the world have been brought into focus on Olympic Games.It is such a big event, holding it successfully will improve one country’s reputation and get more attention around the world. Does holding the Olympic Games have benefits for the host country? It might be said that hosting Olympic Games has some financial risks because of its exceeding budgets. Countries invest huge number of money on sports facilities, which could result in the over-needed of infrastructure. However, there are many reasons why a country should organize Olympic Games.The first reason why holding Olympic Games have benefits for the host country is that, from the economic point of view, increase the income of revenue. Because of the influx of people who come from all around the world, the needs of consumption will dramatically rise. As a result, it is contributed to the output of factory, which is benefit to the whole market. What’s more, Olympic Games attract numbers of merchants to the host country to look for the business opportunities. Their investment in the market will stimulate the growth of economic.Rose and Spiegel (2009) suggests that the rate of trade is increased 30% for those host countries, which ‘realize an economic benefit in the form of greater openness. ’ Furthermore, during the proceeding of the Olympics, large numbers of foreigners will come to the hosts to visit. Bolton (2004) states that the percentage of tourists is increased to 150% in the 1992 Barcelona Games, with the Spanish government’s effort to stimulate the tourism. They are the potential consumer groups which could promote the local economy. This will stimulate some tourism-relative ndustries (hotels restaurants and shops) to develop. Although it is sometimes claimed that these numbers of tourists tend to be temporary, it must be acknowledged that the host country could become a popular tourist destination. In addition, employment is another great benefit to the host countries. Holding Olympics will create some full-time jobs because of the investment in infrastructure. For example, in Atlanta, the host city of the 1996 Olympic Games, the government invest about $2 billion to Olympic-related projects, which is leading to over 580 000 new jobs to this region between 1991 and 1997. Steven and Bevan, 1999) suggests that the Olympic Games were stimulating economic growth up to $5. 1 billion between 1991 and 1997. During the period of games, Barcelona, the host city of the 1992 Olympic Games, the general percentage of unemployment drop from 18. 4% to 9. 6% (Brunet, 1995). The second reason why holding the Olympics Games have benefits for the host country is that infrastructure such as transportation and sports facilities will get improved during the Games. To guarantee a successful Olympics, government should invest into infrastructure, such as improve the public’s transportation and sports facilities.Firstly, the Olympics have promoted the urban development and have an impact on the landscape and urban environment. In Tokyo, the host city of 1964 Olympics games, a new road and highway network was constructed to meet the short-term demands of the Games and to accommodate the city’s continued population and traffic increase in the long-term. Chalkley and Essex (2010) points out a total of 22 main highways were designed for the Games, huge amount of money were spent on land acquisition, compensation and providing alternative si tes for the activities displaced.In addition, the development of infrastructure is not directly related to the leisure facilities, commercial and open spaces, it also involves improve the appearance of the host city. Secondly, the staging of Olympics often contains build the new sporting facilities or restructure the exiting ones. It is often claimed that those facilities have failed to produce a long-term benefits to the country; some of the sports venues often become unused after the Olympics is finished. However, this ignores the fact that the whole society will get beneficial from infrastructural investment and environmental improvement.The London 2012 Olympic Games have made a dedicated plan for the usage of facilities before the facilities is built. For example, after the games, the Olympics Village will become a new community housing. The new shopping centre, which is separated from the Olympic Park, will become an employment centre of this area. Transportation will get impro ved through the construct of new stations, line extensions and additional trains and a largest urban park will build available for both local community and for elite athletes (Olympic Delivery Authority, 2007).The final reason why holding the Olympics Games have benefits for the host country is that it will help to improve the host country‘s image. For the host country, it’s not just a competition about sports; it's a chance to improve their international prominence and a sense of national pride. Firstly, it is contribute to transforming the image of the host city. In order to amplify the effect of Olympics Games, it is necessary to rely on the function of media. During the Games, the worldwide TV audience watched a cumulative 36. 1 billion hours of sport (IOC, 2001).This is one of the most effective ways to improve a nation’s image and attract tourists. For example, in 1996, during the 17 days of the Centennial Olympic Games, it has been reported that 3. 5 billi on people saw the city on worldwide television coverage in 214 countries and territories and about two million people visited Atlanta, as a result, the tourist industry of the region increased dramatically (Steven and Bevan, 1999). It seems clear that a successful mega-event can enhance cities’ reputations through the global media coverage.Prior to the 1992 Olympics, Barcelona was only a large city in Spain, but it is now a famous destination which attracts numbers of tourists to visit. Furthermore, holding this mega-international sporting event could attract the public’s interest to take part in sporting activities, and also increase local pride and community spirit, which could make a significant contribution to the quality of life of both the individual and community. For example, there is a remarkable increase in Barcelona in the participation of sports activities in the years following the hosting of the Olympic Games.There has been an increase of 46 000 new users in the city’s sports centres following the 1992 Games, with the percentage of women participating in sporting activities increasing from 35% in 1989 to 45% in 1995. Moreover, in 1994, more than 300 000 people took part in sporting events which involved the city’s inhabitants on the streets of Barcelona, such as athletic competitions, popular marathon, the bicycle festival and the roller-skating festival (Truno, 1995).In conclusion, it is clear from the weight of evidence that holding Olympic Games have benefits in economic growth, infrastructure improvement and image promotion for the host country. However, there are still some aspects should get the government’s attention. For example, in order to handle with the financially risks such as the increasing rate of over-budget, the international Olympic Committee, together with local Olympic organisers should make the capital budget table precisely.Moreover, the post-event facility usage should be considered befor e the infrastructure is built, which is avoid to become a burden to the long-term economy. Only in this way can the host country get maximise economics benefits. Bibliography: Bolton, L. (2004) Despite Lackluster Ticket Sales, Can Greece Be a Big Winner in This Year’s Olympics? [Online] Available at: http://knowledge. wharton. upenn. edu/article. cfm? articleid=1026 [Accessed 24/08/12]. Brunet, F. (1995) An economic analysis of the Barcelona '92 Olympic Games: resources, financing and impact, in Moragas, D.M. & Botella, M. (eds). The Keys of success: the social, sporting, economic and communications impact of Barcelona ‘92. Bellaterra: Servei de Pulbication de la Universitat Autonoma de Barcelona. Chalkley, B. & Essex, S (1999) Urban development through hosting international events: a history of the Olympic Games. Planning Perspectives 14(4), pp. 369-394. International Olympic Committee (2001) Sydney 2000 Olympic Games; Global Television Report. UK: Olympic Television R esearch Centre Sports Marketing Surveys LtdRoche, M. (2000) Mega-Events and Modernity: Olympics and Expos in the Growth of Global Culture. London: Routledge. The Olympic Delivery Authority (2007) Guide to the Olympic, Paralympic & Legacy transformation planning applications and Olympic village (Part) and legacy residential planning application. Guide to Planning Applications [Online] (February 2007). Available at: http://www. london2012. com/mm%5CDocument%5CPublications%5CPlanningApps%5C01%5C24%5C08%5C36%5Cguide-to-the-planning-applications. df [Accessed 26/08/12] Rose, K. & Spiegel, M. (2011) The Olympic Effect. The Economic Journal 121(3), pp. 652-677. Steven, T. & Bevan, T. (1999) Olympic legacy. Sport Management Magazine 19 (9), pp. 16–19. Truno, E. (1995) Barcelona: city of sport, in Moragas, D. M. & Botella, M. (eds). The Keys of success: the social, sporting, economic and communications impact of Barcelona ‘92. Bellaterra: Servei de Pulbication de la Universitat Autonoma de Barcelona.

Speech on 14th August

Child labour and poverty are inevitably bound together and if you continue to use the labour of children as the treatment for the social disease of poverty, you will have both poverty and child labour to the end of time. (Grace Abbott) Today, there are millions of children who work as wage-earners. They are deprived of childhood, love, nutrition and social association. Child labour emerged during the industrial revolution and today it has become a very serious problem. It is a world-wide phenomenon. Extreme poverty large families, lack of free and compulsory education These children have no chance to attend school and have no choice except to work as unskilled labour. These children are compelled to live below poverty line all their lives. There are many laws against child labour in Pakistan and in other countries but these laws alone cannot control the exploitation of children. We must get the support of all the people of the society to control this menace. According to the law, no child below the age of fourteen can be employed in any hazardous job. Another law states that children should not be made to work beyond their capacity and they should be given opportunities and facilities to develop in a healthy manner. However, all these laws have failed to check the problem of child labour. Stringent laws should be enacted and exemplary punishment should be given to those who exploit children for their selfish end SPARC has conducted research that goes into producing its publications, including three major books on child labour, juvenile justice and child rights. Its annual report The State of Pakistan’s Children and a large number of brochures, SPARC has conducted a number of research studies. SPARC has continued to ask successive governments to upgrade their laws to set a legal age limit for employment in Pakistan, although they have not been successful in doing so.

Thursday, August 15, 2019

Carrie Buck Essay

Buck versus Bell 274 U. S. 2000 (1927) was the United States Supreme Court ruling that upheld a statue instituting compulsory sterilization of the unfit, including the mentally retarded â€Å"for the protection and health of the state. † (Holmes) It was largely seen as an endorsement of negative eugenics which is the attempt of science to improve the human race by eliminating â€Å"defectives† from the gene pool. (Elof) Paul Lombardo argues (in N. Y. U. Law Review, April 1985, 60(30):30-62) that the Buck case was a milestone in government power over individual rights. Lambardo) In his essay â€Å"Carrie Buck’s Daughter: a popular, quasi-scientific idea can be a powerful tool for injustice,† Stephen Jay Gould attacks the injustice of the false â€Å"science† of eugenics, and champions Carrie Buck as the example of the victims. This paper aims scrutinized Gould’s writing skills by studying and analyzing the five metaphors he used in the essay. First, the comparison to Judeo-Christian (Exodus) and pagan Greco-Roman (philosopher Plato) ideas of punishment through 3 generations which is unjust will be tackled. Second, Carrie Buck is an instrument of showing the people what injustice is. Third, the references to Adolf Hitler and the Nazi’s policy of eugenics through gas ovens will be analyzed. Fourth, the issue of the dishonesty of the American legal system and the issue regarding Oliver Wendell Holmes will prove that government powers overpower the individual rights. This should not be the case. Lastly, the metaphor from the ballad â€Å"Barbara Allen† will be talked about. At the end this paper will also examine and evaluate whether Gould succeeded or not in his argument or persuasion essay Gould was a world renowned historian of science. (Shermer) This is why one believes that he uses metaphors that happened in history. He wanted to prove his arguments by relating to what has already happened in the past which is unique for a writer to do. The first metaphor was a comparison to Judeo-Christian and Greco-Roman ideas of punishment through 3 generations. In addition to that is the superstition of bad things happens in threes. One supposes that Gould wants the readers to realize the similarity of the ruling and the ancient beliefs. He argued though that the injustice here is that the children are innocent of the crimes of their fathers or grandfathers. (Gould) When Gould referred to Adolf Hitler as the perfect metaphor for evil, it could be he was coming from a point of view that no person in the history of the world had done what Adolf Hitler did and all for the reason of eugenics. Gould was also known to write about philosophical matters. He was clearly disgusted by the eradication of over 9 million people through gas ovens just because they were considered â€Å"imperfect. † (Gould) How could Hitler know what is perfect if he is imperfect? Surely, it seems illogical when one sees this argument. As for the issue of dishonesty of the American legal system were the victims were not told of sterilization and that the government falsified records was just plain unjust. The government does not have powers to undermine the rights of any individual. The individual is in the proper perspective to know how to better a government and a sense of bettering a society rather than one person holding a high office. That should better fulfill each individual needs and in turn produce a more controlled government. A government should be entirely equal to all citizens and each individual should make his or her own decisions. (Rousseau) One of the most notable documents in history tells of the necessity of individual rights and explains why those rights are a necessity. Individuals’ wants and needs could possibly be blind to the state running the government and everyday pleasures that many take for granted could quickly come to light once they were gone. Often, the state does not visualize this method and can sometimes ignore the individual’s needs all together when proposing things. This basically give power to the federal government to control and set laws for people instead of letting the individual think for him or herself and control their own actions. With having the states predominate control over individuals, problems often occur and the different laws and propositions could alienate some people. The Declaration of Independence originally established different rights for the population of the United States in which gave the people rights of freedom that the citizens needed and a norm to have a guide for the people. Plato’s â€Å"from Crito† is a document that established and guidelines to be held by the states instead of the individual. The Declaration of Independence sought for individual unlike the principles regarded in â€Å"from Crito†, in which saw the power of the government to be lead by the state. Over time people have swayed from the views of the Declaration of Independence and have abused their rights that were allowed to them. That should be no reason to have these freedoms taken from them. Individual rights are a must in society and are important in the function of everyday life. The individual’s rights should predominate and not the government powers. In fact, the government has defeated their purpose by doing acts like fraud and telling lies. (Rousseau) They have the responsibility to defend and protect the innocent and helpless against people that will try to harm them. In this case, the people who are harming the innocent are the ones that should have been protecting the victims. Gould argued that as we can see in the evidences that Carrie Bucker is a victim of this injustice. Gould also made a reference to the ballad â€Å"Barbara Allen†. The ballad was about two lovers who were united only in their deaths which is similar to what has happened to the mother and child in the Buck case. Carrie and Vivian Buck were reunited when they were already dead. Gould’s tone during this part was a person who mourns as if the two people were related to him. He was so disappointed in what happened in their lives and was disappointed that because of the injustice done by the government we see the end of the Buck lineage with Vivian. Stephen Jay Gould is one unique writer. What distinguishes Gould from other writers is that he has taken his work beyond academia and into everyday life. He takes certain aspects of information in history or in any topic that appeal to a general audience and makes them relevant to the here and now. Gould uses his unique style to condense the key contributions of influential figures into a single essay. He also uses his own seemingly mundane experiences to make larger points. In this essay, one could see that readers will be enthralled to read from the very first page. He uses ordinary language but this does not mean that the depth of his words and thoughts would suffer. One can also see that he uses different perspectives in looking at the problem and not just contained in his expertise. He definitely succeeded in this persuasion essay if what he really wants was to open the eyes of the public to the negative effects of eugenics in our lives. Gould captures the emotions of the readers by using information that is both scientific and historical. However, if one questions whether Gould was impartial or objective then one would say that he was impartial. Although he did not directly state it in the essay, one could feel his emotions when one is reading through the article. Gould has established an interesting point in this essay. It was fascinating to see how he had developed the theme and wrapped it up. The essay was like a more structured version of a good and intellectual conversation. Gould has his own unique philosophy of science that has influenced both his career and his life. That philosophy can best be summed up in a quotation from Charles Darwin, frequently cited by Gould as a sound principle of philosophy: â€Å"All observation must be for or against some view if it is to be of any service. † (Darwin) Gould has followed Darwin’s advice throughout his career and his extensive writings.

Wednesday, August 14, 2019

Developmentally Appropriate Practices In Relations To Students

The National Association for the Education of Young Children ( NAEYC ) defines developmentally appropriate pattern ( DAP ) as the â€Å" model of rules and guidelines for best pattern in the attention and instruction of immature kids † ( Developmentally Appropriate, 2009 ) . DAP draws on cognition gained from research on the development of kids and besides on the cognition of effectual educational schemes in order to advance maximum acquisition and development in kids ( Developmentally Appropriate, 2009 ) . DAP ( 2009 ) is of import because, when used, it helps instructors make educational determinations that are appropriate for the pupils ‘ age group, set ends for pupils that are both disputing and accomplishable, and guarantee intentionality in all their instruction patterns. The determinations that instructors make in their schoolrooms can potentially hold a great impact on pupils ‘ acquisition experiences. Positive larning experiences lead to future positive larning behaviours such as continuity and flexibleness ( Developmentally Appropriate, 2009 ) . When doing determinations sing the instruction of their pupils, instructors must take into history the general developmental features and larning capablenesss of kids in the age scope that they are learning and besides the single features and larning capablenesss of pupils within his or her schoolroom ( Developmentally Appropriate, 2009 ) . All aspects of development and acquisition are of import and interconnected, and it is non until a instructor to the full understands where his or her pupils stand physically, cognitively, and emotionally that effectual determinations sing their instruction can be made ( Spano, 2004 ) . The determinations being made by instructors lead to the scene of ends in the schoolroom. Not merely do instructors necessitate to guarantee that pupils achieve these ends, but they besides need to dispute pupils to construct on the cognition they already possess to make a higher degree of understanding and development. These challenges must ever be presented as the following logical measure harmonizing to the kid ‘s phase of development ( Developmentally Appropriate, 2009 ) . In general, the phases of kid development are well-documented and follow a predictable sequence ( Spano, 2004 ) . However, it is true that each single kid reaches each phase of development at a different clip which makes it of import for instructors to cognize the general features of the age group every bit good as the single pupils ‘ features. If a instructor is non cognizant of their pupils ‘ single developmental degrees, ends may be set either excessively high or excessively low, and larnin g will non happen ( Developmentally Appropriate, 2009 ) . Another ground that DAP is of import is that DAP ensures intentionality ( Developmentally Appropriate, 2009 ) . Intentional instructors use their cognition of their pupils ‘ development to be after all facets of their category, from the schoolroom set-up to the usage of assorted learning schemes to the types of appraisals administered. Teachers must understand that development and larning take topographic point best in state of affairss where the kid is unafraid in his or her milieus and that positive acquisition experiences shape their motive ( Helping your kid, 2005 ) . They should besides maintain in head that kids learn in a assortment of different ways, so assorted attacks to the stuff should be made. When instructors design their categories with developmentally appropriate purposes in head, a much more effectual acquisition environment is created ( Developmentally Appropriate, 2009 ) . Now that the importance of developmentally appropriate patterns has been defined, a elaborate description of the features of the cognitive, affectional, and psychomotor development of striplings runing from age 12 to sixteen will be reviewed while discoursing the impact that these features have on instruction and acquisition. The developmental psychologist, Jean Piaget, classified the phases of cognitive development in kids ( Anderson, 2004 ) . In his theory, there are four phases of cognitive development ( sensorimotor, preoperational, concrete operational, and formal operational ) ( Anderson, 2004 ) . Early striplings ( approximately ages 11 to 13 ) , says Piaget, see the passage from the concrete operational phase to the formal operational phase ( Anderson, 2004 ) . Adolescents at this phase should be traveling off from the construct of egocentricism, or the apprehension that one ‘s position is non needfully the position of person else ( as cited in Malerstein & A ; Ahern, 1979 ) . Another facet of this passage is that striplings move from concrete idea to more abstract idea, intending that they are able to believe about inside informations that do non refer to an existent object or event. Concepts such as love are more apprehensible to striplings than to younger kids ( as cited in Malerstein & A ; Ahern, 1979 ) . Besides, persons in the formal operational phase of development are able to believe more scientifically ( Anderson, 2004 ) . This means that, when presented with a job, the person will travel about work outing the job by organizing hypotheses and proving each hypothesis until the right result is reached ( as cited in Malerstein & A ; Ahern, 1979 ) . Adolescents in this age scope become progressively concerned about the hereafter instead than the present with early striplings being concerned chiefly with the close hereafter while in-between striplings ( age 14 to 16 ) are more concerned with future callings and life programs ( Spano, 2004 ) . These persons are going more interested in their ain potency, and besides in the sentiments of others ( Helping your kid, 2005 ) . The thought of adolescent egocentricism is fundamentally the development of uneasiness ( Elkind, 1967 ) . Adolescents usually have ideas that everyone is watching them, known as the fanciful audience ( Elkind, 1967 ) . This may stem from the physical alterations that they are sing ( i.e. , pubescence ) , which will be discussed in more item subsequently on. Another signifier of adolescent egocentricism tied to physical development is the thought of personal fabrication, where persons perceive themselves as finally alone and perchance unbeatable ( Elkind, 1967 ) . The deductions of cognitive development on acquisition and instruction at this age scope are rather of import. Because striplings now have the capacity for abstract idea, their verbal problem-solving accomplishments are much greater ( Developmentally Appropriate, 2009 ) . Teachers can now utilize inquiry-based acquisition at a more advanced degree ( Developmentally Appropriate, 2009 ) . For illustration, in the biological science schoolroom pupils at this degree of cognitive development may be take a relevant subject, develop a research inquiry, signifier hypotheses, test the hypotheses, observe the consequences, make decisions, and pass on the importance of the findings to other schoolmates ( Mississippi Science Framework, 2001 ) . Socially and emotionally, adolescence is a really disruptive clip ( Helping your kid, 2005 ) . During pubescence, sex endocrines, bodily alterations, and nervous pruning ( the cutting dorsum of fresh nervous tracts ) lead to incomprehensible temper swings ( Helping your kid, 2005 ) . This is besides a clip when striplings are developing a personal individuality and sense of ego ( as cited in Hamachek, 1988 ) . Erik Erikson ‘s theory of the eight phases of development provinces that the most of import phase for this age scope is stage five: individuality versus individuality confusion ( as cited in Hamachek, 1988 ) . In this phase, persons are get downing to set up a stable self-concept that does non alter. However, Erikson besides says that persons in this phase can hover between being certain of themselves and uncertainness which may be due to the rapid alterations that adolescents experience during pubescence ( as cited in Hamachek, 1988 ) . In phase four of Erikson ‘s theory, the single begins to develop a sense of industry and lower status ( as cited in Hamachek, 1988 ) . This means that by age about age 12, striplings should be cognizant of their ain capacity to bring forth things every bit good as the fact that they may non be every bit good at some things as others ( as cited in Hamachek, 1988, Helping your kid, 2005 ) . A sense of lower status creates self-aware feelings about oneself which may take the stripling to move shyly or sharply but besides to derive or lose motive in academic enterprises ( Spano, 2004 ) . Besides at this age, striplings are traveling off from dependance on parents and closer to interaction with equal groups ( as cited in Hamacheck, 1988 ) . They begin to value the sentiments and involvements of their friends over the sentiments and involvements of their parents, and they besides begin to take involvement in edifice stronger relationships with people outside their immediate household ( Spano, 2004 ) . Therefore, peer force per unit area can be a major factor in behaviour ( Helping your kid, 2005, Spano, 2004 ) . Even though striplings are seeking independency from their parents at this age and finding their single personalities, they can besides return back to Acts of the Apostless of childish in times of emphasis ( as cited in Hamachek, 1988 ) . One must maintain in head that merely because striplings have the visual aspect of immature grownups, they are still slightly kids cognitively and emotionally ( Kipke, 1999 ) . So in the schoolroom, instructors should retrieve to put ends that are disputing but non excessively disputing ( Developmentally Appropriate, 2009 ) . Showing a challenge that can be accomplished with some attempt gives the pupil a sense of assurance in his or her ain abilities which can take to a greater sense of individuality, whereas showing impossible challenging can hold negative effects on self-esteem and deter positive acquisition behaviours ( Developmentally Appropriate, 2009 ) . Teachers should besides maintain in head that pupils are extremely societal at this clip, so concerted acquisition is a positive instruction scheme ( Developmentally Appropriate, 2009 ) . For illustration, in the biological science schoolroom, have pupils work together on an assignment such as dissecting a toad while the instructor acts as a facilitator and moves about the room to assist groups when they can non reply the inquiries on their ain ( Mississippi Science Framework, 2001 ) . Just retrieve that, in the schoolroom, societal interaction should non roll excessively far from the content. The most apparent signifiers of development in striplings are psychomotor and physical development. Approximately between the ages of 11 and 15, adolescents undergo pubescence, or the development of secondary sex features ( Kipke, 1999, Spano, 2004 ) . At this point in their lives, striplings become capable of reproduction which entails a figure of physical alterations such as an addition in height and weight and organic structure hair, etc. ( Spano, 2004 ) . This drastic alteration in bodily proportions, coupled with the phenomenon of nervous pruning ( which is the decrease of fresh neural tracts in the encephalon during adolescence ) , sometimes leads to awkwardness and shortages in coordination every bit good as alterations in affect ( Coch, Fischer & A ; Dawson, 2007 ) . Physical alterations interact closely with emotion and knowledge ( Coch, Fischer & A ; Dawson, 2007 ) . Due to all the physical developments, striplings spend a important part of clip focused upon themselves which gives grownups the feeling of egoism ; and because they are so focussed on themselves, they feel like others are focused on them as good which is the impression of the fanciful audience ( Elkind, 1967 ) . These rapid alterations make them experience self-aware and over-concerning about their physical visual aspect ( Spano, 2004 ) . Although pupil may be awkward or clumsy at this age, implementing schemes that require honing of all right motor accomplishments is a good thought ( Coch, Fischer & A ; Dawson, 2007 ) . Having pupils fix their ain moisture slides in a biological science category is a valuable tool because it requires pupils to pay attending to item and develop concentration and a new accomplishment set that can be used subsequently on ( Mississippi Science Framework, 2001 ) . All of these new developments in striplings lead to new chances in larning. Cognitive development allows immature striplings to finish more in-depth job state of affairss and focal point for longer sums of clip ( Helping your kid, 2005 ) . Adolescents are besides developing a sense of ego and personal involvements, so they are capable of ramifying out into extracurricular activities that they enjoy such as music or art ( Hamachek, 1988, Helping your kid, 2005 ) . This is besides the clip in life where persons form womb-to-tomb reading wonts, so encouragement to read is of import ( Helping your kid, 2005 ) . In drumhead, the old ages of adolescence ( ages 12 through 16 ) are a clip of major development non merely cognitively but emotionally and physically every bit good. For instructors, structuring content around developmentally appropriate patterns is highly of import. Without maintaining in head the degree of cognitive ability of their pupils, instructors run the hazard of making lessons that are either excessively long and advanced or excessively easy and short. Teachers need to understand what their pupils are traveling through emotionally and socially every bit good. Implementing learning schemes where the pupils get to interact with one another is a positive incentive for adolescent pupils. In the scientific discipline schoolroom, all these deductions are merely every bit valid as in any other schoolroom. Designing lesson programs that allow the pupils to develop an involvement in different subject and work out jobs that are disputing will assist them to make a high degree of development, and showing the stuff in assorted ways helps pupils with changing personalities learn the stuff. Without usage of developmentally appropriate patterns, effectual instruction is non possible.