Paleolithic Societies

Although the San and the Chumash were both hunter-gatherers, their culture and lifestyle had significant differences. Many cultures around the world had their fair share of differences. If you look closer though, you can find certain patterns that occur in many of the first societies that emerged in the world. Even these days, you can find the same types of patterns in people. The San lived in Southern Africa. They are also known as Bushmen, Sho, Barwa, Kung, or Khwe.Their lifestyle consisted of much leisure time, and the children did nothing but play. Women were greatly respected and admired in the San culture. The women would take part in both gathering and hunting, but mainly gathering. They used everything very wisely, including parts of ostrich eggs to hold fluids. Overall, the San were your typical hunter-gatherer society of the Paleolithic era. The Chumash lived in Southern California. They were also a hunter-gatherer society. They also were very good fisherman.They painted on cave walls and some of the drawings are still there today. Some of the Chumash settlements are believed to be over 10,000 years old. They were visited by the Spanish, which brought many diseases to the Chumash. They were also believed to be visited by Polynesians. Comparing these two cultures, we can see some similarities and many differences. They were both hunter-gatherer people. As their main food sources migrated, they followed along with them. Some differences would be that they lived in completely different parts of the world.The San did not fish, yet the Chumash did. They both have many more similarities and differences. The cultures I have compared and contrasted are only two of the many Paleolithic societies out there. They all can be recognized by their hunting and gathering ways. They followed their food, and obviously made it work for themselves. I think it would be an interesting journey to go back in time and see how they lived and interacted with each other before th e emerging of some of the technology that is common to us today.

Shapter 4 Global Finance Essay

Topics to Stimulate Class Discussion 1. Why are MNCs affected by exchange rate movements? 2. Why did exchange rates change recently? 3. Show the class a current exchange rate table from a periodical—identify spot and forward quotations. Then show the class an exchange rate table from a date a month ago, or three months ago. The comparison of tables will illustrate how exchange rates change, and how forward rates of the earlier date will differ from the spot rate of the future date for a given currency. 4. Make up several scenarios and ask the class how each scenario would, other things equal, affect the demand for a currency, the supply of a currency for sale, and the equilibrium exchange rate. Then integrate several  scenarios together to illustrate that in reality other things are not held constant, which makes the assessment of exchange rate movements more difficult. Critical Debate: The currencies of some Latin American countries depreciate against other currencies on a consistent basis. How can persistently weak currencies be stabilized? Proposition: The governments of these countries need to increase the demand for their currency by attracting more capital flows. Raising interest rates will make their currencies more attractive to foreign investors. They also need to insure bank deposits so that foreign investors who invest in large bank deposits do not need to worry about default risk. In addition, they could impose capital restrictions on local investors to prevent capital outflows. Opposing view: The governments of these countries print too much money because they make too many promises to the electorate that would otherwise have to be funded by higher taxes or borrowing at high interest rates. Printing money is the easy way out; but prices rise, exports decrease and imports increase. Thus, these countries could relieve the downward pressure on their local currencies by printing less money and thereby reducing the money supply and hence inflation. The outcome is likely to be a temporary reduction in economic growth and business failures. Higher interest rates would merely increase inflation. Reply: Solutions that cause riots are not very clever. With whom do you agree? Which argument do you support? Offer your own opinion on this issue. ANSWER: There is no perfect solution, but recognize the tradeoffs. The proposal to raise interest rates is not a good solution in the long run, because it will cause higher loan rates, and may slow down the economies in the long run. Effective anti-inflationary policies are needed to prevent further depreciation. However, the elimination of inflation that is caused by a wage-price spiral may cause some pain among the workers in the country,  as some form of wage controls may be needed. The government has various means of reducing inflation, but all of them can have adverse effects on the economy in the short run. As intimated in the question, inflation is a form of taxation, another way in which governments can raise money and inevitably reduce the value of ones earnings. Where governments are corrupt or have a poor control over the economy, inflation may be the only reliable way of â€Å"taxing†. In terms of economic welfare, the question is perhaps who suffers from inflat ion and a depreciating currency, perhaps not so many as long as the inflation is predictable. Answers to End of Chapter Questions 1. Percentage Depreciation. Assume the spot rate of the US dollar is  £0.54. The expected spot rate one year from now is assumed to be  £0.51. What percentage depreciation does this reflect? ANSWER: ( £0.51 –  £0.54)/ £0.54 = –5.55% Expected depreciation of 5.55% percent 2. Inflation Effects on Exchange Rates. Assume that the UK inflation rate becomes high relative to euro inflation. Other things being equal, how should this affect the (a) UK demand for euros, (b) supply of euros for foreign currency, and (c) equilibrium value of the euro? ANSWER: Demand for euros should increase (euro prices cheaper), supply of euros for sale should decrease ( £ prices more expensive), and the euro’s value should increase (supply and demand). 3. Interest Rate Effects on Exchange Rates. Assume euro interest rates fall relative to British interest rates. Other things being equal, how should this affect the (a) euro demand for British pounds, (b) supply of pounds for sale, and (c) equilibrium value of the pound? ANSWER: Demand for pounds should increase, supply of pounds for sale should decrease, and the pound’s value should increase. 4. Income Effects on Exchange Rates. Assume that the income level in the euro area rises at a much higher rate than does the UK income level. Other things being equal, how should this affect the (a) euro area demand for British  pounds, (b) supply of British pounds for sale, and (c) equilibrium value of the British pound in terms of the euro? ANSWER: Assuming no effect on interest rates, demand for pounds should increase, supply of pounds for sale may not be affected, and the pound’s value should increase. 5. Trade Restriction Effects on Exchange Rates. Assume that the Japanese government relaxes its controls on imports by Japanese companies. Other things being equal, how should this affect the (a) UK demand for Japanese yen, (b) supply of yen for sale, and (c) equilibrium value of the yen? ANSWER: Demand for yen should not be affected, supply of yen for sale should increase, and the value of yen should decrease. 6. Effects of Real Interest Rates. What is the expected relationship between the relative real interest rates of two countries and the exchange rate of their currencies? ANSWER: The higher the real interest rate of a country relative to another country, the stronger will be its home currency, other things equal. 7. Speculative Effects on Exchange Rates. Explain why a public forecast about the future value of the euro and about future interest rates by a respected economist could affect the value of the euro today. Why do some forecasts by well-respected economists have no impact on today’s value of the euro? ANSWER: Interest rate movements affect exchange rates. Speculators can use anticipated interest rate movements to forecast exchange rate movements. They may decide to purchase securities in particular countries because of their expectations about currency movements, since their yield will be affected by changes in a currency’s value. These purchases of securities require an exchange of currencies, which can immediately affect the equilibrium value of exchange rates. If a forecast of interest rates by a respected economist was already anticipated by market participants or is not different from investors’ original expectations, an announced forecast does not provide new information. Thus, there would be no reaction by investors to such an announcement, and exchange rates would not be affected. 8. Factors Affecting Exchange Rates. What factors affect the future movements  in the value of the euro against the dollar? ANSWER: The euro’s value could change because of the balance of trade, which reflects more U.S. demand for European goods than the European demand for U.S. goods. The capital flows between the U.S. and Europe will also affect the U.S. demand for euros and the supply of euros for sale (to be exchanged for dollars). 9. Interaction of Exchange Rates. Assume that there are substantial capital flows among the United Kingdom, the United States, and the Euro area. If interest rates in the United Kingdom declines to a level below the U.S. interest rate, and inflationary expectations remain unchanged, how could this affect the value of the euro against the U.S. dollar? How might this decline in the United Kingdom’s interest rate possibly affect the value of the British pound against the euro? ANSWER: If interest rates in the UK decline, there may be an increase in capital flows from the UK to the U.S. In addition, U.S. investors may attempt to capitalize on higher U.S. interest rates, while U.S. investors reduce their investments in UK’s securities. This places downward pressure on the pond’s value. Euro investors who previously invested in the UK may shift to the U.S. Thus, the increased demand for dollars by euros may increase the value of the dollar in relation to the euro. 10. Trade Deficit Effects on Exchange Rates. Every month, the UK trade deficit figures are announced. Foreign exchange traders often react to this announcement and even attempt to forecast the figures before they are announced. a. Why do you think the trade deficit announcement sometimes has such an impact on foreign exchange trading? ANSWER: The trade deficit announcement may provide a reasonable forecast of future trade deficits and therefore has implications about supply and demand conditions in the foreign exchange market. For example, if the trade deficit was larger than anticipated, and is expected to continue, this implies that the UK demand for foreign currencies may be larger than initially anticipated. Thus, the pound would be expected to weaken. Some speculators may take a position in foreign currencies immediately and could cause an  immediate decline in the pound. b. In some periods, foreign exchange traders do not respond to a trade deficit announcement, even when the announced deficit is very large. Offer an explanation for such a lack of response. ANSWER: If the market correctly anticipated the trade deficit figure, then any news contained in the announcement has already been accounted for in the market. The market should only respond to an announcement about the trade deficit if the announcement contains new information. 11. Comovements of Exchange Rates. Explain why the value of the British pound against the dollar will not always move in tandem with the value of the euro against the dollar. ANSWER: The euro’s value changes in response to the flow of funds between the U.S. and the countries using the euro or their currency. The pound’s value changes in response to the flow of funds between the U.S. and the U.K. As the UK economy is different from the euro economy, economic events will have a different impact, the events themselves may also differ. Assuming that the market is efficient and that the exchange rates do move according to relevant information the fact that the relevant information sets differ justifi es a less than perfect correlation of movements. That they are similar is understandable as although different, the differences are not that great. 12. Factors Affecting Exchange Rates. In the 1990s, Russia was attempting to import more goods but had little to offer other countries in terms of potential exports. In addition, Russia’s inflation rate was high. Explain the type of pressure that these factors placed on the Russian currency. ANSWER: The large amount of Russian imports and lack of Russian exports placed downward pressure on the Russian currency. The high inflation rate in Russia also placed downward pressure on the Russian currency. 13. National Income Effects. Analysts commonly attribute the appreciation of a currency to expectations that economic conditions will strengthen. Yet, this chapter suggests that when other factors are held constant, increased national income could increase imports and cause the local currency to weaken. In reality, other factors are not constant. What other factor is likely to be affected by increased economic growth and could place upward  pressure on the value of the local currency? ANSWER: Interest rates tend to rise in response to a stronger economy, and higher interest rates can place upward pressure on the local currency (as long as there is not offsetting pressure by higher expected inflation). 14. Factors Affecting Exchange Rates. If the Asian countries experience a decline in economic growth (and experience a decline in inflation and interest rates as a result), how will their currency values (relative to the British pound) be affected? ANSWER: A relative decline in Asian economic growth will reduce Asian demand for UK products, which places upward pressure on Asian currencies. However, given the change in interest rates, Asian corporations with excess cash may now invest in the UK or other countries, thereby increasing the demand for pounds. Thus, a decline in Asian interest rates will place downward pressure on the value of the Asian currencies. The overall impact depends on the magnitude of the forces just described. 15. Impact of Crises. Why do you think most crises in countries (such as the Asian crisis) cause the local currency to weaken abruptly? Is it because of trade or capital flows? ANSWER: Capital flows have a larger influence. In general, crises tend to cause investors to expect that there will be less investment in the country in the future and also cause concern that any existing investments will generate poor returns (because of defaults on loans or reduced valuations of stocks). Thus, as investors liquidate their investments and convert the local currency into other currencies to invest elsewhere, downward pressure is placed on the local currency. 16. How do you think weaker economic conditions would affect trade flows in a Developing Country? How would weaker conditions affect the value of its currency (holding other factors constant)? How do you think interest rates would be affected? ANSWER: Weak world economic conditions would result in a reduced demand for foreign products, wh ich results in a decline in the demand for foreign currencies, particularly the currencies of developing countries that rely on exports. Taking the US as the dominant economy there would therefore  be downward pressure on currencies relative to the dollar (upward pressure on the dollar’s value). The lower U.S. interest rates that accompany weaker economic conditions should reduce the capital flows to the U.S., which place downward pressure on the value of the dollar. Advanced Questions 17. Measuring Effects on Exchange Rates. Tarheel Co. plans to determine how changes in UK and euro real interest rates will affect the value of the British pound. a. Describe a regression model that could be used to achieve this purpose. Also explain the expected sign of the regression coefficient. ANSWER: Various models are possible. Based on the model above, the regression coefficient is expected to have a negative sign. A relatively high real interest rate differential would likely cause a weaker euro value, other things being equal. An appropriate model would also include other independent variables that may influence the percentage change in the peso’s value. b. If Tarheel Co. thinks that the existence of a quota in particular historical periods may have affected exchange rates, how might this be accounted for in the regression model? ANSWER: A dummy variable could be included in the model, assigned a value of one for periods when a quota existed and a value of zero when it did not exist. This answer requires some creative thinking, as it is not drawn directly from the text. 18. Factors Affecting Exchange Rates. Mexico tends to have much higher inflation than the United States and also much higher interest rates than the United States. Inflation and interest rates are much more volatile in Mexico than in industrialized countries. The value of the Mexican peso is typically more volatile than the currencies of industrialized countries from a U.S. perspective; it has typically depreciated from one year to the next, but the degree of depreciation has varied substantially. The bid/ask spread tends to be wider for the peso than for currencies of industrialized countries. a. Identify the most obvious economic reason for the persistent depreciation  of the peso. ANSWER: The high inflation in Mexico places continual downward pressure on the value of the peso. b. High interest rates are commonly expected to strengthen a country’s currency because they can encourage foreign investment in securities in that country, which results in the exchange of other currencies for that currency. Yet, the peso’s value has declined against the dollar over most years even though Mexican interest rates are typically much higher than U.S. interest rates. Thus, it appears that the high Mexican interest rates do not attract substantial U.S. investment in Mexico’s securities. Why do you think U.S. investors do not try to capitalize on the high interest rates in Mexico? ANSWER: The high interest rates in Mexico result from expectations of high inflation. That is, the real interest rate in Mexico may not be any higher than the U.S. real interest rate. Given the high inflationary expectations, U.S. investors recognize the potential weakness of the peso, which could more than offset the high interest rate (when they convert the pesos back to dollars at the end of the investment period). Therefore, the high Mexican interest rates do not encourage U.S. investment in Mexican securities, and do not help to strengthen the value of the peso. c. Why do you think the bid/ask spread is higher for pesos than for currencies of industrialized countries? How does this affect a U.S. firm that does substantial business in Mexico? ANSWER: The bid/ask spread is wider because the banks that provide foreign exchange services are subject to more risk when they maintain currencies such as the peso that could decline abruptly at any time. A wider bid/ask spread adversely af fects the U.S. firm that does business in Mexico because it increases the transactions costs associated with conversion of dollars to pesos, or pesos to dollars. 19. Aggregate Effects on Exchange Rates. Assume that the United Kingdom invests heavily in government and corporate securities of Country K. In addition, residents of Country K invest heavily in the United Kingdom. Approximately  £10 billion worth of investment transactions occur between these two countries each year. The total pound value of trade transactions per year is about  £8 million. This information is expected to also hold in the future. Because your firm exports goods to Country K, your job as  international cash manager requires you to forecast the value of Country K’s currency (the â€Å"krank†) with respect to the pound. Explain how each of the following conditions will affect the value of the krank, holding other things equal. Then, aggregate all of these impacts to develop an overall forecast of the krank’s movement against the pound. a. UK inflation has suddenly increased substantially, while Country K’s inflation remains low. ANSWER: Increased UK demand for the krank. Decreased supply of kranks for sale. Upward pressure in the krank’s value. b. UK interest rates have increased substantially, while Country K’s interest rates remain low. Investors of both countries are attracted to high interest rates. ANSWER: Decreased UK demand for the krank. Increased supply of kranks for sale. Downward pressure on the krank’s value. c. The UK income level increased substantially, while Country K’s income level has remained unchanged. ANSWER: Increased UK demand for the krank. Upward pressure on the krank’s value. d. The UK is expected to impose a small tariff on goods imported from Country K. ANSWER: The tariff will cause a decrease in the United Kingdom’ desire for Country K’s goods, and will therefore reduce the demand for kranks for sale. Downward pressure on the krank’s value. e. Combine all expected impacts to develop an overall forecast. ANSWER: Two of the scenarios described above place upward pressure on the value of the krank. However, these scenarios are related to trade, and trade flows are relatively minor between the UK and Country K. The interest rate scenario places downward pressure on the krank’s value. Since the interest rates affect capital flows and capital flows dominate trade flows between the UK and Country K, the interest rate scenario should overwhelm all other scenarios. Thus, when considering the importance of implications of all scenarios, the krank is expected to depreciate. 20. Speculation. Blue Demon Bank expects that the Mexican peso will depreciate against the dollar from its spot rate of $.15 to $.14 in 10 days. The following interbank lending and borrowing rates exist: U.S. dollar Mexican peso Lending Rate 8.0% 8.5% Borrowing Rate 8.3% 8.7% Assume that Blue Demon Bank has a borrowing capacity of either $10 million or 70 million peos in the interbank market, depending on which currency it wants to borrow. a. How could Blue Demon Bank attempt to capitalize on its expectations without using deposited funds? Estimate the profits that could be generated from this strategy. ANSWER: Blue Demon Bank can capitalize on its expectations about pesos (MXP) as follows: 1. Borrow MXP70 million 2. Convert the MXP70 million to dollars: MXP70,000,000 Ãâ€" $.15 = $10,500,000 3. Lend the dollars through the interbank market at 8.0% annualized over a 10-day period. The amount accumulated in 10 days is: $10,500,000 Ãâ€" [1 + (8% Ãâ€" 10/360)] = $10,500,000 Ãâ€" [1.002222] = $10,523,333 4. Repay the peso loan. The repayment amount on the peso loan is: MXP70,000,000 Ãâ€" [1 + (8.7% Ãâ€" 10/360)] = 70,000,000 Ãâ€" [1.002417]=MXP70,169,167 5. Based on the expected spot rate of $.14, the amount of dollars needed to repay the peso loan is: MXP70,169,167 Ãâ€" $.14 = $9,823,683 6. After repaying the loan, Blue Demon Bank will have a speculative profit (if its forecasted exchange rate is accurate) of: $10,523,333 – $9,823,683 = $699,650 b. Assume all the preceding information with this exception: Blue Demon Bank expects the peso to appreciate from its present spot rate of $.15 to $.17 in 30 days. How could it attempt to capitalize on its expectations without using deposited funds? Estimate the profits that could be generated from this strategy. ANSWER: Blue Demon Bank can capitalize on its expectations as follows: 1. Borrow $10 million 2. Convert the $10 million to pesos (MXP): $10,000,000/$.15 = MXP66,666,667 3. Lend the pesos through the interbank market at 8.5% annualized over a 30-day period. The amount accumulated in 30 days is: MXP66,666,667 Ãâ€" [1 + (8.5% Ãâ€" 30/360)] = 66,666,667 Ãâ€" [1.007083] = MXP67,138,889 4. Repay the dollar loan. The repayment amount on the dollar loan is: $10,000,000 Ãâ€" [1 + (8.3% Ãâ€" 30/360)] = $10,000,000 Ãâ€" [1.006917] = $10,069,170 5. Convert the pesos to dollars to repay the loan. The amount of dollars to be received in 30 days (based on the expected spot rate of $.17) is: MXP67,138,889 Ãâ€" $.17 = $11,413,611 6. The profits are determined by estimating the dollars available after repaying the loan: $11,413,611 – $10,069,170 = $1,344,441 21. Speculation. Diamond Bank expects that the Singapore dollar will depreciate against the euro from its spot rate of 0.48 euros to 0.45 euros in 60 days. The following interbank lending and borrowing rates exist: Lending Rate euro Singapore dollar 7.0% 22.0% Borrowing Rate 7.2% 24.0% Diamond Bank considers borrowing 10 million Singapore dollars in the interbank market and investing the funds in euros for 60 days. Estimate the profits (or losses) that could be earned from this strategy. Should Diamond Bank pursue this strategy? ANSWER: Borrow S$10,000,000 and convert to euros: S$10,000,000 Ãâ€" 0.48 = 4,800,000 euros Invest funds for 60 days. The rate earned in the euros for 60 days is: 7% Ãâ€" (60/360) = 1.17% Total amount accumulated in 60 days: 4,800,000 euros Ãâ€" (1 + .0117) = 4,856,160 euros Convert euros back to S$ in 60 days: 4,856,160 /0.45 = S$10,791,467 The rate to be paid on loan is: .24 Ãâ€" (60/360) = .04 Amount owed on S$ loan is: S$10,000,000 Ãâ€" (1 + .04) = S$10,400,000 This strategy results in a profit: S$10,791,467 – S$10,400,000 = S$391,467 Diamond Bank should pursue this strategy. Blades plc Case Study As the chief financial officer of Blades plc Ben Holt is pleased that his current system of exporting â€Å"Speedos† to Thailand seems to be working well. Blades’ primary customer in Thailand, a retailer called Entertainment Products, has committed itself to purchasing a fixed number of Speedos annually for the next three years at a fixed price denominated in baht, Thailand’s currency. Furthermore, Blades is using a Thai supplier for some of the components needed to manufacture Speedos. Nevertheless, Holt is concerned about recent developments in Asia. Foreign investors from various countries had invested heavily in Thailand to take advantage of the high interest rates there. As a result of the weak economy in Thailand, however,  many foreign investors have lost confidence in Thailand and have withdrawn their funds. Ben Holt has two major concerns regarding these developments. First, he is wondering how these changes in Thailand’s economy could affect the value of the Thai baht and, consequently, Blades. More specifically, he is wondering whether the effects on the Thai baht may affect Blades even though its primary Thai customer is committed to Blades over the next three years. Second, Holt believes that Blades may be able to speculate on the anticipated movement of the baht, but he is uncertain about the procedure needed to accomplish this. To facilitate Holt’s understanding of exchange rate speculation, he has asked you, Blades’ financial analyst, to provide him with detailed illustrations of two scenarios. In the first, the baht would move from a current level of  £0.0147 to  £0.0133 within the next 30 days. Under the second scenario, the baht would move from its current level to  £0.0167 within the next 30 days. Based on Holt’s needs, he has provided you with the following list of questions to be answered: 1. How are percentage changes in a currency’s value measured? Illustrate your answer numerically by assuming a change in the Thai baht’s value from a value of  £0.0147 to  £0.0173. 2. What are the basic factors that determine the value of a currency? In equilibrium, what is the relationship between these factors? 3. How might the relatively high levels of inflation and interest rates in Thailand have affected the baht’s value? (Assume a constant level of UK inflation and interest rates.) 4. How do you think the loss of confidence in the Thai baht, evidenced by the withdrawal of funds from Thailand, affected the baht’s value? Would Blades be affected by the change in value, given the primary Thai customer’s commitment? 5. Assume that Thailand’s central bank wishes to prevent a withdrawal of funds from its country in order to prevent further changes in the currency’s value. How could it accomplish this objective using interest rates? 6. Construct a spreadsheet illustrating the steps Blades’ treasurer would need to follow in order to speculate on expected movements in the baht’s value over the next 30 days. Also show the speculative profit (in pounds) resulting from each scenario. Use both of Ben Holt’s examples to illustrate possible speculation. Assume that Blades can borrow either  £7 million or the baht equivalent of this amount. Furthermore, assume that the following short-term interest rates (annualized) are available to Blades: Currency Dollars Thai baht Lending Rate 8.10% 14.80% Borrowing Rate 8.20% 15.40% Solution to Continuing Case Problem: Blades. 1. How are percentage changes in a currency’s value measured? Illustrate your answer numerically by assuming a change in the Thai baht’s value from a value of  £0.0147 to  £0.0173. ANSWER: The percentage change in a currency’s value is measured as follows: % S St St 1 1 where S denotes the spot rate, and St 1 denotes the spot rate as of the earlier date. A positive percentage change represents appreciation of the foreign currency, while a negative percentage change represents depreciation. In the example provided, the percentage change in the Thai baht would be: = 17.69%  £0.0173 –  £0.0147  £0.0147 That is, the baht would be expected to appreciate by 17.69%. 2. What are the basic factors that determine the value of a currency? In equilibrium, what is the relationship between these factors? ANSWER: The basic factors that determine the value of a currency are the supply of the currency for sale and the demand for the currency. A high level of supply of a currency generally decreases the currency’s value, while a high level of demand for a currency increases its value. In equilibrium, the supply of the currency equals the demand for the currency. 3. How might the relatively high levels of inflation and interest rates have affected the baht’s value? (Assume a constant level of UK inflation and interest rates.) ANSWER: The baht would be affected both by inflation levels and interest rates in Thailand relative to levels of these variables in the UK. A high level of inflation tends to result in currency depreciation, as it would increase the Thai demand for UK goods, causing an increase in the Thai demand for dollars. Furthermore, a relatively high level of Thai inflation would reduce the UK demand for Thai goods, causing an increase in the supply of baht for sa le. Conversely, the high level of interest rates in Thailand may cause appreciation of the baht relative to the dollar. A relatively high level of interest rates in Thailand would have rendered investments there more attractive for UK investors, causing an increase in the demand for baht. Furthermore, UK securities would have been less attractive to Thai investors, causing an increase in the supply of dollars for sale. However, investors might be unwilling to invest in baht-denominated securities if they are concerned about the potential depreciation of the baht that could result from Thailand’s inflation. 4. How do you think the loss of confidence in the Thai baht, evidenced by the withdrawal of funds from Thailand, affected the baht’s value? Would Blades be affected by the change in value, given the primary Thai customer’s commitment? ANSWER: In general, a depreciation in the foreign currency results when investors liquidate their investments in the foreign currency, increasing the supply of its currency for sale. Blades would probably be affected by the change in value even though its Thai customer’s commitment, as the sales are denominated in baht. Thus, the depreciation in the baht would have caused a conversion of the baht revenue into fewer pounds. 5. Assume that Thailand’s central bank wishes to prevent a withdrawal of funds from its country in order to prevent further changes in the currency’s value. How could it accomplish this objective using interest rates? ANSWER: If Thailand’s central bank wishes to prevent further depreciation in the baht’s value, it would attempt to increase the level of interest rates in Thailand. In turn, this would increase the demand for Thai baht by UK investors, as Thai securities would now seem more attractive. This would place upward pressure on the currency’s value. However, the high interest rates could reduce local borrowing and spending. 6. Construct a spreadsheet illustrating the steps Blades’ treasurer would need to follow in order to speculate on expected movements in the baht’s value over the next 30 days. Also show the speculative profit (in dollars) resulting from each scenario. Use both of Ben Holt’s examples to illustrate possible speculation. Assume that Blades can borrow either  £10 million or the baht equivalent of this amount. Furthermore, assume that the following short-term interest rates (annualized) are available to Blades: Currency Dollars Thai baht Lending Rate 8.10% 14.80% Borrowing Rate 8.20% 15.40% ANSWER: (See spreadsheet attached.) Depreciation of the Baht from  £0.0147 to  £0.0133 1. Borrow Thai baht ( £10,000,000/0.0147) 2. Convert the Thai baht to pounds 680,272,109 bahtÃâ€"  £0.0147). 3. Lend the pounds at 8.10% annualized, which represents a 0.68% return over the 30-day period [computed as 8.10% Ãâ€" (30/360)]. After 30 days, Blades would receive ( £10,000,000 Ãâ€" (1 + .0068)) 4. Use the proceeds of the dollar loan repayment (on Day 30) to repay the baht borrowed. The annual interest on the baht borrowed is 15.40%, or 1.28% over the 30-day period [computed as 15.40% Ãâ€" (30/360)]. The total baht amount necessary to repay the loan is therefore (680,272,109 Ãâ€" (1 + .0128)) 680,272,109 10,000,000 10,068,000.00 688,979,592 5. Number of pounds necessary to repay baht loan (688,979,592 bahtÃâ€"  £0.0133) 9,163,429 6. Speculative profit ( £10,068,000 –  £9,163,429)  £904,571 Appreciation of the Baht from  £0.0147 to  £0.0167 1. Borrow pounds. 2. Convert the pounds to Thai baht ( £10 million/ £0.0147). 3. Lend the baht at 14.80% annualized, which represents a 1.23% return over the 30-day period [computed as 14.80% Ãâ€" (30/360)]. After 30 days, 10,000,000.00 680,272,109 Blades would receive (THB 680,272,109Ãâ€" (1 + .0123)) 4. Use the proceeds of the baht loan repayment (on Day 30) to repay the dollars borrowed. The annual interest on the dollars borrowed is 8.20%, or 0.68% over the 30-day period [computed as 8.20% Ãâ€" (30/360)]. The total dollar amount necessary to repay the loan is therefore ( £10,000,000 Ãâ€" (1 + .0068)) 5. Number of baht necessary to repay dollar loan ( £10,068,000.00/ £0.0167) 6. Speculative profit (THB688,639,456– THB602,874,251) 7. Dollar equivalent of speculative profit (THB 85,765,205Ãâ€" £0.0167) 688,639,456 10,068,000.00 602,874,251 85,765,205 1,432,278 Blades would be ill advised to speculate in this way as it is not a specialist in the financial markets and does not have specialist abilities or information to use. These actions are thyerfore little better than gambling and are highly ill advised. Small Business Dilemma Assessment by the Sports Exports Company of Factors That Affect the British Pound’s Value 1. Given Jim’s expectations, forecast whether the pound will appreciate or depreciate against the euro over time. ANSWER: The pound should depreciate because the British inflation is expected to be higher than the euro. This could cause a shift in trade flows that would place downward pressure on the pound’s value. The interest rate movements of both countries are expected to be similar for both countries. Therefore, there should not be any adjustment in the capital flows between the two countries. 2. Given Jim’s expectations, will the Sports Exports Company be favourably or unfavourably affected by the future changes in the value of the pound? ANSWER: The Sports Exports Company will be unfavourably affected, because depreciation in the British pound will cause the pound receivables to convert into fewer euros.

Feminist Perspective of the Role of Lady Madeline Essay

â€Å"The Fall of the House of Usher (1939)†, arguably Edgar Allan Poe’s most famous short story, is a tale centered around the mysterious House of Usher and its equally indiscernible inhabitants. These subjects are plagued with physical and mental degradation – the Usher siblings suffer from various abnormal ailments and unexplained fears, while the house itself seems to be tethering on the edge of collapse. The gothic elements in the story are distributed generously, and the plot is increasingly ridden with the supernatural as it progresses. Lady Madeline, Roderick Usher’s twin sister, is a key element in the story. She suffers from a disease much like catalepsy, a disease that subjects her to seizures and insensitivity to various stimuli. Roderick himself, on the other hand, suffers from an â€Å"acuteness of the senses† and a strong belief that the house is somehow alive and conscious of its surroundings. Roderick has not parted from the house in years, and has instead elected to keep himself inside to pore over literature and art, rather than threaten his sanity by overwhelming his senses. The siblings are very similar, not only in their appearance, as they are twins, but in their problems as well. They are both suffering from similarly mysterious diseases, and are both aware of the underlying sexual tension in their relationship. Early in the story, the readers are made aware of the age-old Usher tradition that has kept the Usher family ‘pure’. In other words, incestuous relationships were the norm for them. However, by no means was Madeline and Roderick’s relationship condoned by the rest of society. This essay will examine the story from a feminist perspective, focusing on understanding the narrating styles of the male author, and the actions of the characters in the book. It will also look specifically at the ways that women have suffered from social conventions throughout the years, and compare it to Madeline’s struggles in the story. Women & Poe Males are the dominant gender in the text, both in terms of dialogue and in description. The complete absence of a female voice in the text, save for several moans and groans from Madeline scattered throughout the story, is  pointedly apparent. Throughout the story, Madeline never utters a single word – what the readers know of her is severely limited by the vague descriptions given of her and the way she is treated. Not only do males dominate the text in terms of their presence, but there is also a greater sense of regard among the male characters themselves than there is between Madeline the the male characters. They seem to regard her ailments less seriously than they do of Roderick’s, giving Roderick’s much more detail and explanation than that of Madeline. Roderick’s description, on the other hand, seems to go on an on, reaching into Poe’s treatment of Madeline after her apparent death is a representation of the author’s strangely violent attitude towards women. Like in a number of his other works, women are subject to strange and horrific treatment after their deaths. Berenice was buried alive, and had all her teeth pulled. Ligeia sees the death of two women, and a perverse return of one of them. One could conclude that Poe had misogynistic tendencies, though the fact that Madeline did rise up in power could be seen as support for an opposing perspective. Women in Victorian Society Understanding the circumstances behind the treatment and portrayal of Madeline also demands an understanding of how women were expected to act, especially as reflected in nineteenth century literature. At that time, women were expected to adhere to certain well-defined virtues, centered around the virtures of submissiveness and domesticity. To some extent, a woman’s value depended quite largely on her physical attributes. This refers not only her physique, but also to her abilities in carrying out household tasks. Women were traditionally seen as homemakers – people in charge of matters in the household, not outside. Men, of course, were seen as the mind and intellect of the household, and the one qualified to receive an education and work in the outside world. A woman’s mental ability was regarded as essentially limited to superficial sensing, while a man would have been seen as the one responsible for complex thought and reflection in a household. In a way, Madeline’s suppression by her twin brother and the way she generally presents herself reflects this. Madeline does not speak, and simply obeys the orders of everyone else in the house. Roderick, on the other hand, always has the final word. This is exemplified once again the  Roderick’s live burial of Madeline, in which Madeline could not do anything to change her fate. In the nineteenth century, the female daughter is seen as a critical supporting element of the family. She was expected to keep her aspirations and motivations rooted in maintaining and upholding the family and its name, from within the household. The way Madeline was buried, â€Å"half smothered in its oppressive atmosphere†, reflects the way she was smothered in Victorian society. The nature of their illnesses also reflect the gender roles of the era. While Roderick’s illness amplifies his senses, Madeline’s disease, described as â€Å"a settle apathy, a gradual wasting away of the person†, dampens hers, reducing her into an ‘barely-there’, almost ghostly, individual. Roderick is able to isolate himself from the outside world to spare him from the torture of his oversensitivty, however, Madeline is helpless towards hers. Madeline’s illness subjects her to physical degradation. On a mental level, she is suppressed by the gender roles and expectations of the time. Relationship between Madeline and the Other Characters Madeline’s burial represents the suppression she is subject to under Usher tradition, and under the ideals of her brother. She cannot truly be herself or express herself fully, because of the expectations she has to fulfill. Even from the start, she is trapped in the house, trapped under the shadow of her ancestor’s expectations, and trapped under the realization of what she and her twin brother would have to do to continue their family line in the traditional Usher fashion. Madeline has no freedom, both in life and in â€Å"death†. It is a feminist victory, then, to see Madeline emerge from the depths of her suppression to exact her revenge and exert her power over those who have suppressed her all her life. He then says that his sickness can be â€Å"traced to a more natural and far more palpable origin†Ã¢â‚¬â€namely, to his â€Å"tenderly beloved sister—his sole companion for long years—his last relative on earth.† Madeline’s display of power and ability to induce fear is an abrupt change in the dynamic among the characters. Instead of the silent, unregarded character she has always been portrayed as thus far, Madeline is finally clearly seen as a powerful figure, capable of breaking out of her constraints, both physical and mental, and exacting justice on her own. It is interesting to see that Madeline only manages to struggle out  of these constraints after her apparent death. Perhaps in only allowing Madeline to break free after her death signifies that for women, stepping out of the very well-defined social conventions of the day is as difficult as death itself. Furthermore, Madeline’s new appearance as a strong character over her brother’s meekness represents how women actually have the capability to rise up and over society’s expectations for them, when given the chance. In that final scene, while Roderick is â€Å"a victim to the terrors he had anticipated†, Madeline is fearful and intimidating, with her â€Å"lofty† appearance and the blood on her clothes displaying the kind of struggles she has experienced and conquered. Perhaps this point offers insight into why this invoked fear in the readers of the era – to see a woman assume such a powerful role would have seemed abnormally threatening. Another notable fact is that Roderick’s condition visibly deteriorates after the departure of Madeline from his daily life. It signifies that despite Madeline’s apparent weakness and low value, she does play a fundamental role in the Usher family. It suggests that she may have been a strong character from the start – but the readers just cannot immediately see it as it is shrouded by the lack of attention on her and descriptions of her. In essense, a feminist criticism of â€Å"The Fall of the House of Usher† reveals much about the nature of the characters and their relationships, as well as the reasons behind the circumstances and the characters’ subsequent actions. A prominent theme stems from the context of the story, the Victorian era. By knowing how women were expected to act, we see the reasons why she was treated a certain way, and why her response was far from active. Madeline’s final actions, however, reflect a different side of the female role, adding a very interesting twist to the story. Bibliography: â€Å"Early Nineteenth Century Attitudes Toward Women and Their Roles as Represented By Literature Popular in Worcester, Massachusetts.† Teach US History |. N.p., n.d. Web. 06 Nov. 2012. . â€Å"‘Sympathies of a Scarcely Intelligible Nature’: The Brother-Sister Bond in

Evaluation Movie Review Example | Topics and Well Written Essays - 500 words

Evaluation - Movie Review Example The story revolves around a family where the father is a loser, the mother is a drunkard and the protagonist is a frustrated son trying to escape such dilemma. To do so, he often goes to his friend’s laboratory. During one of his visits, his scientist friend shows his invention, a time-machine; when all of a sudden, a group of thugs riding a van shot at the doctor. As he tries to escape the criminals, Marty rides the time machine which brought him to the past. His travel did not only offer adventures but a chance to help his father become a better man. Indeed, this is a unique way of presenting the common plot of stories of making things right. The protagonist living in his parent’s teenage world is also a wonderful way of doing â€Å"flashback† although of course it is not called a flashback because the scenes should be current. With such presentation of the story, it is awesome to think about a story sequentially unfolds but still is able to bring the audience back to the past and back to the future. The plot is pure genius and it exceeds my expectation of a good plot. Theme should always be a criterion for judging a story especially when it extends to various aspects of life. Obviously, the theme of Back to the Future is about changing for the better, perseverance and love. Nevertheless, sometimes, it is not the obvious that makes things great but the inconspicuous. I agree with Rubin Safaya who wrote about easily dismissed scenes that portray a well-thought theme. In his article, Safaya mentions the joke about the former actor Reagan becoming the president and Lou becoming one of the early colored politicians (2010). Such portrayals imply the theme of living the American dream, that nothing is impossible for a person who is determined to make his way to success. The actors are have well-played their parts to make the story come to life. Among the many reviews on

Gender inequalities within the NHS Essay Example | Topics and Well Written Essays - 1000 words - 1

Gender inequalities within the NHS - Essay Example Since its inception in 1948, it has improvised its policies and has incorporated better and newer policies for effective functioning. It is a humongous effort to run the NHS smoothly and efficiently as it has innumerable people involved in its administration and operation. It has gone a step ahead and has integrated computers for better functioning and also has its helpline on the internet. Amidst all these progressive steps, the main factor that remains important for it being effectual is its colossal staff. The UK government has ensured that almost all doctors and nurses in the UK are employed by the NHS and work in their hospitals. The government has also ensured that all the new student doctors train at the NHS after completing medical school and they have provision to accommodate almost 8000 doctors and nurses every year. These new doctors must undergo a two year foundation programme with the NHS to become registered doctors. NHS plays a very critical role in shaping the careers for new doctors and nurses. NHS has employment policies that promote equality and diversity within the organization and are non-discriminatory about race, caste and gender and disability (Department of Health, 2006). The Gender Equality Act of 2006 has made provisions for the following: equal opportunities for men and women in terms of employment, no sexual discrimination towards the transsexuals, no pay gap between male and female employees, part time work options and to provide training and up gradation of knowledge and skills. It has been acknowledged by most that there is predominance of women in the nursing field especially those working part-time. There is however, a deliberation that the women nurses are at the lower stratum of the profession, which questions the Equality policy. Studies are showing that female nurses are receiving disproportionate employment opportunities with most of

Adolescents Motivation Toward the Environment Assignment

Adolescents Motivation Toward the Environment - Assignment Example Adolescents face lesser control over environment behaviors than academic behaviors. The present study postulates three hypotheses: first, increased environmental motivation clubbed with frequent environmental attitudes, second, it is greater in an environment than academic, third, it is more in older than younger students. All these studies were tested considering gender; however, the study has not examined gender differences in older students’ motivation toward the environment. In this research, a total of 200 students split into 5 age groups were chosen for the study. Out of these 200, a section of 74 has already participated in a similar study a year ago. The study found that adolescents reported a higher autonomy in their environment than academic behaviors and autonomous environmental motivation was higher in older than younger students. The study has certain limitations as all the samples were from a suburban, French-speaking middle-class white student. The sample was in very small scale to be precisely it is only 126 students. The findings say that the youth have better environmental behavior but increasing alienation from school. The research paper clearly states that there is a need to study whether the adolescents are motivated to adopt environmental behaviors and says that self-determination theory (SDT) put forward the fact that people engaged in environmental related behaviors have developed autonomous motivation towards those behaviors. The present study poses three hypotheses like increased environmental motivation correlates with frequent environmental behaviors, it is greater in environmental than education and autonomous environmental is higher in adolescents than in younger students. Though these hypotheses were tested considering the gender, no study was conducted on gender differences in adolescents motivation through the environment. Earlier researches in this field have been mentioned, but not included in the study

Critically analyse the role of senior managers as barriers to Essay

Critically analyse the role of senior managers as barriers to organizational change and explore how this can be addressed - Essay Example It is the objective of this study to delve deeper into this controversial premise, explore how management overcome resistance to change, compare how differing and contrasting theories impact the work organization, and finally to present methodologies to address resistance to proposed change(s) in the organizational, administrative and technological structures. As the Greek philosopher Heraclitus said, â€Å"Change is the only ever constant in this world†, and change is inevitable for evolution, development and fulfillment of any tangible or intangible object, concept or idea. Change creates opportunity for growth (Baker).It is the basic nature of man to resist change, and as Dr. Claude Brodeur states â€Å"We resist change. We choose to keep our habits, rather, the comfort of our habits† (Barriers†¦cited by E-commerce Expert ) It is this becoming too comfortable and complacent with our habits that gives rise to our distinct culture or behavior which often are not r eceptive to any disturbance or change,and as such, habit has become our individual culture and custom. Change cannot be easily undertaken by clashing with this individual culture, but rather by focusing on the work itself (Beer and Spector,1990). Change can be implemented on three potential areas: organizational structure, technology and people (Understanding and Managing Organizational Behavior,2006; Aladwani, 2001) and each area has its own definite, peculiar concerns that can impact and affect over-all employee attitude and behavior. Some changes may call for a company’s organizational upgrading and this may cover the company’s own policies, rules and regulations; the creation or abolishment of certain departments, altering the number of employees under each supervisor, or can be much simpler like clarifying someone’s job description (UnderstandingBehavior†¦ 2006). Technological change refers to new gadgets or equipment for better efficiency, while chang es in people refer to changing employees’ set behavioral patterns and attitudes. Of all these changes, change in people offer the most challenge and level of difficulty, and this is the area where this paper will focus thoroughly. Changing employees’ behavioral patterns and attitude perspective is a challenge for management, as employees are creatures of habit, and habits, as the saying goes, are hard to break. Early studies on change and resistance to change was undertaken by Kurt Lewin (Dent and Goldberg 1999; Burke, Lake and Paine, 2008) and clearly explained how habits are hard nuts to crack, and enumerates three steps to assimilate change. This three-step model is widely accepted when studying change theories and these can be summarized as unfreezing, moving and refreezing (Burke, Lake and Paine, 2008, p. 233). Lewin refers to a person as a â€Å"complex, energy field in which all behavior could be conceived of as a change in some site of a field† (Marrow, 1969). Marrow’s further research showed that David Bowers and Stanley Seashore , both pioneers of organizational behavior, acknowledged Lewin’s view that a person’s biological system of homeostasis, i.e., man’s natural ability to resist change should undergo a three step cycle: first, an unfreezing or disruption of an already existing steady state,

MGT506 - Strategic Leadership, Mod 4 Case Assignment Essay

MGT506 - Strategic Leadership, Mod 4 Case Assignment - Essay Example Negative and positive reinforcement both are administered by type X managers and those with a transactional leadership style. Transformational leadership, on the other hand, is an extended form of the traditional transactional leadership approach. Transformational leadership is not only based on the conformity of the followers and/or subordinates but it also looks forward to shift the beliefs, the values and the needs of the followers. The attempt of transformational leaders is to become successful in raising colleagues, followers, subordinates and clients towards a much greater awareness of the consequences of the issues. This spreading of awareness requires a leader who is equipped with a vision, internal locus of control, confidence and the courage to put forward what he sees is right (Kuhnert and Lewis, 1987). TRANSACTIONAL LEADER – CHARLES DE GAULLE The main essence of transactional leadership dates back to the World War 1, where leaders gained relative importance and lea d the forces of war. French army in the event of the First World War and was amongst the few army generals who led successful armored counter attacks during the battle of France in 1940. What makes Charles De Gaulle a transactional leader? The famous French statesman Charles de Gaulle was a prominent example of the transactional leadership style. ... He also motivated his subordinates through keeping forward the rewards and punishment process. He was an Army man and so laid out a clear requirement plan in front of his subordinates and the corresponding rewards and it was very evident that in the event of a failure to satisfy those requirements, they will be eligible to receive the corresponding punishment. Was his leadership style appropriate? All these traits qualify Charles De Gaulle as a transactional leader. The approach he had was very suitable for the environment of that era. Politically as well, he had the right vision for that time. He has been very famous for his work in History and many politicians and leaders of today admire him (Qazi, 2010). TRANSFORMATIONAL LEADER – MARTIN LUTHER KING Jr. Dr. Martin Luther King Jr. was born into a Baptist minister’s family in 1929, Atlanta, Georgia. He was himself a Baptist minister and was awarded with national prominence as the leader of Civil rights movement in Unite d States and through the Southern Christian leadership conference. He was also one of the bearers of Nobel Prize for peace award in 19 64, his efforts and leadership abilities were the keys to success for his movement which was the ending of the legal segregation of the African Americans in the southern states of the United States. He was never in favor of violence and always wanted to bring about a social change in the status quo of people (McGuire & Hutchings, 2007). What makes Martin Luther King Jr. a transformational leader? He was a visionary. He had a broader vision to bring about a change and had the skills to convert the abstract ideas into an understandable objective and goal making it easier for his followers to understand. He was an

Mission Vision and Objectives of TATA Case Study

Mission Vision and Objectives of TATA - Case Study Example Graham (2010) pointed out that â€Å"TATA’s business structure includes 11 charitable trusts that together earn 66% of TATA Sons and that are intimately involved in its governance. (Family members own only 3%)†(Graham, 2010, p.8). No other company in the world may have the same reputation as TATA has as far as social service is concerned. TATA is currently funding many social service activities such as clean water deliver, literacy, prenatal care etc. Moreover Indian Institute of Science, Tata institute of fundamental research, the national center for performing arts, Tata memorial hospitals, etc are founded or supported by the TATA group (Graham, 2010, p.8). In fact TATA is spending a substantial portion of their business profits for charity activities. Because of the huge attention given to social activities, members of TATA family are comparatively poorer than their business counterparts in India. In 2009, TATA spent $ 159 million for social service activities (Graha m, 2010, p.8). TATA believes that community support is the most important requirement for a business group to sustain its growth. It should be noted that Coke like international giants failed to operate successfully in India because of their failure to offer something to the community in which it operates. Coke’s bottling plant in Kerala was closed recently because of the allegations against Coke with respect to the exploitation of underwater resources in Kerala. At the same time, it should be noted that millions of hectares of land in Kerala are used for tea plantation by TATA and the people in Kerala do not have much problems with that. This is because of the fact that TATA is servicing the people in Kerala in many ways even though they use Kerala’s land for tea plantation. Recently TATA has introduced world’s cheapest passenger car (NANO) priced only $ 2500. In fact TATA wants to help the poor people with this product. Poor families of medium income families can afford a car with the introduction of NANO. While most of the other car manufacturers are trying to develop luxury cars, TATA thinks in the opposite direction. They wanted to make car which is affordable to even poor people and the outcome was NANO. Contaminated drinking water is causing thousands of deaths in India. In order to help poor people to purify drinking water, TATA introduced TATA Swatch or water purifier priced less than 1000 Indian rupees in 2009(Graham, 2010, p.9). It should be noted that there is no need for TATA like big companies to introduce products such as water purifier. However, they introduced this product only to demonstrate their social commitments. â€Å"The TATA group has a set five core values; integrity, understanding, excellence, unity and responsibility† (Angwin, 2011, p.133). These core values can be seen in every TATA business segments. Even though TATA’s business groups are operating independently, they understand each other work s trictly in accordance with the vision, mission and core values of TATA group. In short, TATA’s business culture is more oriented towards the servicing of poor. For TATA, business is not at all about making money or profits; it is about how well an organization can service the community without sins.

Dell creates global business sales operations to better serve Coursework

Dell creates global business sales operations to better serve customers - Coursework Example Among the many companies that operate in the manufacturing sector now, the computer manufacturing companies like Dell Inc are making sizable impacts. The last few decades of the 20th century saw the emergence of sizable computer manufacturing companies, which first started manufacturing basic level Personal Computers. Now, these companies including Dell Inc. have expanded into the manufacturing of many computer related or information technology related hardware, which are having applications in the various facets of human lives. Dell Inc was established in year 1984 by Michael Dell, originally under the name of PC's Limited. When he was a student at the University of Texas, Dell started selling IBM PC-compatible computers from an off-campus dorm room at Dobie Center in Austin, Texas. The thing that made this computer different from the computers sold by other companies at that time was, it was manufactured or even assembled from various computer stock parts. Michael Dell, with the ai d of external financing and technological know-how, then started manufacturing their own computers under the name â€Å"Turbo PC†. From that initial initiative, the company grew strongly even changing the name from PC’s Limited to "Dell Computer Corporation" in 1988. Then in 2003, it re-branded to simply Dell Inc. to reflect its expansion beyond computer related products. Now, it designs, manufactures and sells personal computers, other computer and electronic related products. Although, Dell Inc. also sells products manufactured by third part manufacturers like Televisions, it directly manufactures many computer related hardware in its various manufacturing facilities located worldwide. In those manufacturing centers, Dell manufactures Desktops, Laptops, Servers, printers, ink cartridges, Mobile phones and various other IT and electronics based components, making Dell Inc. one of the top manufacturing companies of the world. Organizational Structure Dell Inc. is a pub lic limited company, as it went public in the year 1988 itself, with the selling of around 3.5 million company shares at rates of $8.50 a share. (Ireland, Hoskisson and Hitt 2008). Although, it operates as the Pubic Limited Company in majority of the operations, in key markets like India, it operates as a private limited company. That is, in United States and UK, it operates as a public company only, with the word Incorporation or Inc used in the end for US operations, while in UK, according to the United Kingdom Company Law, the abbreviation Plc is added to the company name. However, in other emerging markets like India, it operates as private entity, taking the name Dell Private India Ltd. Thus, Dell’s identity or sector depends on the market it operates. After going public only, Dell focused on large clients particularly large contracts from the government agencies, thereby expanding and diversifying its organizational structure. When the company earned good profits in the years just before 1988, Dell Inc. thought going public can help generate sizable funds, which can be further utilized to tap the opportunities available then. â€Å"In 1988, Dell after becoming public added a sales force to serve the large customers and began selling to government agencies† (Thompson et al. 2006, p.36). Headquartered in Round Rock, Texas, Dell is run by a board of directors consisting of nine people. Its founder

Social and Psychological Differences in Trifles by Susan Glaspell Essay Example for Free

Social and Psychological Differences in Trifles by Susan Glaspell Essay In the play Trifles, by Susan Glaspell, the central theme of the play are the social and psychological differences between the men and the women. The male characters has a chauvinistic attitude towards women, while the women are more understanding and perceptive than the men in terms of trying to solve the crime. It is because of the mens attitudes that led them to fail in seeing the truth of Mr. Wrights murder. Their attitudes were blatantly apparent while they were assessing the crime scene at the Wright House. Rather than being objective investigators, their negative views towards women and their discriminatory nature of the opposite sex caused them to overlook the situation and automatically branded Mrs. Wright as the killer with no regard for her emotions or state of mind at the time of the murder. The men were more concerned with criticizing Mrs. Wrights lack of proper homemaking skills than trying to find the reason behind the murder of Mr. Wright. In line 157, while looking for evidence, the county attorney complains after washing his hands, Dirty towels! Not much of a housekeeper, would you say, ladies?, while kicking the pans under the sink. His irritation showed his negative attitude because the house was not kept in proper standards by Mrs. Wright. His actions alluded to his beliefs that since women stayed home as house wives, while holding no proper jobs in the world, they should at least keep the house up to par. He defends his opinions to the ladies in line 163 saying that I know that there are some Dickson County farmhouses that do not have such roller towels. When Mrs. Hale and Mrs. Peters quickly defended Mrs. Wright, his reaction was, Ah, loyal to your sex , I see. His demeaning undertone revealed his lack of respect for womens societal roles and believes that wom en are inferior to men. The women on the other hand, were more perceptive and sympathetic to Mrs. Wrights situation. From the beginning, they were the ones that noticed the little things. The effort that Mrs. Wright had to caring for her house even though it was not perfect was not overlooked by the women. They were more sympathetic than the men because they themselves knew the flight it took to run a household, to which the men disregarded. The women were the ones that asked questions. They knew Mrs. Wright before she had married the cold and quiet Mr. Wright. They recalled that Minnie was a lively person and was always singing but later became recluse and closed off from the neighbors after marrying Mr. Wright. They pondered whether or not she had a happy and stable marriage, going through many reasons as to what could have led her to commit such a crime. While the men were busy investigating upstairs, it was the women who found the bird cage as well as the dead bird in the sewing box. They compared Mrs. Wright to the bird in line 449. She come to think of it, she was kind of like a bird herself real sweet and pretty, but kind of timid and fluttery. How-she-did-change. The women based their findings on facts and evidence as opposed to the indifferent attitude of the men. Though the women sympathized with Mrs. Wrights situation, they believed that killing Mr. Wright was still wrong, however, their sympathy and understanding for Mrs. Wright led them to conceal the bird as evidence from the sheriff and the county attorney. The play clearly showed a divide in opposing ideas and attitudes between both sexes. The men were more harsh, critical, rough and self centered where as the women were more intuitive, cautious and sensitive to the situation. Their differences led to them having contrasting opinions on the facts. The mens judgments on women did not allow them to accurately and objectively assess the case where as the women we able to see things that the men overlook. However, though the men were not able to gather more evidence for the case, the women were the ones who found possibly the most important finding, which was the broken bird cage as well as the dead bird. Even after finding the bird, the women decided to commit a crime themselves by hiding the bird from the sheriff. Even though the women were more sympathetic they were still wrong for hiding the evidence. Thus alluding to the fact that the womens emotional nature disabled them the same way as the mens judgmental attitude.

Speech Defects Essay Example for Free

Speech Defects Essay Introduction Speech Defects are any imperfect verbal utterances that occur even when the message being expressed has been properly formulated in the individual’s mind and are linguistically intact. They represent the most prevalent type of communication disorder found in humans. They may result from (1) maldevelopment or damage within the nervous system; (2) maldevelopment or damage in the peripheral structures producing speech; (3) faulty learning; and (4) functional disruptions arising from other causes. Lisping is one of the most common types of articulatory defects caused by faulty learning and, in some cases, can be related to concomitant disorders in the hearing mechanism, such as impairment in auditory acuity or auditory discrimination. Lisping is the incorrect pronunciation of certain sounds, chiefly /s/ and /z/, in the ordinary speech (Encyclopedia Americana). The most common type of error involves the substitution of a surd (voiceless) th sound for s and a sonant (voiced) th for z. Similar sound substitutions may occur for sh and ch. All of these articulatory substitutions are often classified as lisps. In some cases the tongue protrudes through the aperture of the teeth, producing what is called an interdental lisp or frontal lisp. In other instances the tongue tip does not protrude between the teeth but may maintain a firm contact against the upper teeth or the frontal part of the hard palate, while the air stream is forced around one or both sides of the upthrust tongue, producing a lateral lisp. Finally, there is the palatal lisp which is not found in typical speech development. Here, the mid-section of the tongue comes in contact with the soft palate, quite far back. Nevertheless, lisping as an isolated speech characteristic does not usually reduce the person’s intelligibility unduly. Most people can easily understand what the person with a lisp is saying. This study is being proposed to determine the different factors that contribute to the acquisition of the defect particularly frontal lisp, its indications, practices that may cause it, and its possible solutions. Evaluation based on the reactions of the respondent shall be made to address the above mentioned queries. With the foregoing impressions of the writer, this study hopes to enlighten people about frontal lisp and the actions that should be taken about it. STATEMENT OF THE PROBLEM The respondent appears to have a difficulty in pronouncing the /s/ and /z/ sounds. The error involves the substitution of the mentioned sounds with either a voiced or voiceless /th/. This resembles the defects caused by frontal lisp. The misplacement of the tongue during articulation causes these unclear speech sounds. This study intends to answer the following questions: 1. What could be the root cause of the respondent’s speech impediment? 2. Is there a relation between the difficulty of the respondent and her family background? 3. What steps should be taken to lessen or even eliminate the defect? 3. Is the respondent’s case a permanent one? SIGNIFICANCE OF THE STUDY The respondent is expected to gain more knowledge and understanding about the speech disorder during the whole process. Should she exhibit improvement in her speech, we can expect this to boost her morale. With the respondent gaining more confidence in her speech and ease in expressing herself, she is sure to reach greater heights and farther horizons in terms of her social and educational well-being. People with similar defects may, likewise, practice this kind of therapy to experience improvement in and awareness of their speech capabilities. Should an advanced and wider study and practice of this research be created, more people with similar speech defect can be helped. Most especially those people who could not afford the services of speech pathologists and audiologists. This will surely produce more competent speakers in the country. DEFINITION OF TERMS Aperture – (Noun) the opening between the upper and lower frontal teeth Auditory acuity – (Noun) keenness of the auditory skills Audiologist – (Noun) a healthcare professional who performs hearing tests Concomitant disorder – (Noun) a disorder that occurs in connection with another defect Intelligibility – (Noun) the quality of language that is comprehensible Interdental – (Adjective) between the teeth Lateral – (Adjective) situated at or extending to the side Palate – (Noun) the upper surface of the mouth that separates the oral and nasal cavities Protrude – (Verb) to extend out or project in space; bulge outward Speech impediment – (Noun) interference or delay in the progress or development of speech Speech pathologist – (Noun) a doctor who specializes in the diagnosis and therapy for patients with speech defects Sonant – (Noun) a speech sound accompanied by sound from the vocal chords; (Adjective) produced with vibration of the vocal chords Surd – (Noun) a consonant produced without sound from the vocal chords

Friedrich Nietzsche On Death Of God Philosophy Essay

Friedrich Nietzsche On Death Of God Philosophy Essay History has welcomed many great thinkers and philosophers, offering new and sometimes revolutionary ideologies which can completely modify a society. From his rejection of Judeo-Christian morality and his commentary on the Death of God, Nietzsche had become one of the most prominent philosophers in Europe. Often, his philosophy isnt fully appreciated or acknowledged because of ad hominem attacks from the insanity of his later years, and the denouncement of his work because of its association with Hitler(Solomon XVIII), which is confused with causation. Nietzsche is sometimes credited with being an influential figure in Hitlers life, and has gained a notion of guilt by association. His philosophies were greatly misinterpreted and omitted by Hitler, they had opposing ideologies in anti Semitism, his views on race were different and their philosophy on power and Religion. Nietzsche was born and raised in Germany and lived from 1844 or 1900 and is cited to be the first existentialist philosopher. He challenged the foundations of Christianity and presents a life affirming philosophy. The German soldiers in world war one would carry a copy of his book Thus Spoke Zarathustra. He had influenced leading cultural figures from different walks of life.(Solomon) Anti-Semitism was a prominent propaganda tool that had grasped the German nation; it was one of the guiding forces that Hitler had used to gain control(Solomon). During Nietzsches time anti-Semitism was a popular ideology and his sister and brother in law had practiced it vigilantly(Solomon 13) . His heros, as well as most of the people around him were anti Semites so many would conclude on the basis of what his peers believed that he was an anti Semite as well. Nietzsche was also strongly against anti Semitism, although he was critical of the Judeo-Christian morality, one must not instantly relate the two. On several accounts does Nietzsche explain his stance on Jews and Judaism, one not look further then in his book Human, all too Human. He states Every nation, every man has disagreeable, even dangerous characteristics; it is cruel to demand that the Jew should be an exception(Amnation.com) implying that the Jews are not much different from other races. He goes on further to sympathize and even praise the Jews, he had stated that they had the most sorrowful history of all people(Amnation.com) and were responsible for the most effective moral code in the world (Amnation.com). Nietzsche was diagnosed as mentally ill in his later years but still continued to address the issue, in his letters to this sister at the time he was openly hostile to her anti Semitism, he stated the name of Zarathustra is used in every Anti-Semitic Correspondence Sheet, has almost made me sick several times(consciencia.org) the book Thus spoke Zarathustra was used as a sort of literature that they claim shared the same views. He even goes as far as to insult them; he states these accursed anti-Semite deformities shall not sully my idea (consciencia.org). Hitler on several occasions demonstrates his Anti Semitism in Mien kampf Hence today I believe that I am acting in accordance with the will of the Almighty Creator: by defending myself against the Jew, I am fighting for the work of the Lord.(Nobelifs.com) Nietzsche was in direct opposition to Hitler, his writings were corrupted by the misinterpretation of Zarathustra and the people that Nietzsche was around, they believed since he associated with anti Semites that he was among them. The letters to his sister demonstrate otherwise and that ironically enough Nietzsche had sympathized and even praised the Jews The most important ideology to the Nazis is arguably their belief that the Aryan race is the most superior and has the most valued purity. Hitler arrogantly proclaimed his superiority amongst all the races in the world, included the Polish, Slavic, Arab etc. Hitlers use of the term Aryan basically is whoever he proclaimed to be, despite the linguistic and physical similarities of close nations, he considered many non-Aryan. Despite the similar characteristics that most poles have to Germans, Hitler had considered the Poles as non Aryan and had stated that The destruction of Poland is our primary task.(Holocaustforgotten.com) and Heinrich Himmler had also said All Poles will disappear from the world. It is essential that the great German people should consider it as its major task to destroy all Poles.(Holocaustforgotten.com). Hitler had gone on to systematical kill 3 million polish citizens, as well as many other ethnic minorities. The irony in all this is that Nietzsche himself had stated I am a pure blooded Polish Noblemen without a single drop of bad blood, certainly not German blood(Anti-Christ 77), it seems that Hitler had missed this very important piece of information when he read from Nietzsches books. He goes to describe the lofty position that he holds as a Polish man [à ¢Ã¢â€š ¬Ã‚ ¦] as a pole. You would not need to go back centurys to find instincts as pure as mine in this noblest race on earth(Anti-Christ 78) which implies a sort of arrogance that he demonstrates for his supposed Polish ancestry, which further increases the irony of Hitlers actions. There is dispute however as to whether he is truly of full polish ancestry or not Nietzsche [à ¢Ã¢â€š ¬Ã‚ ¦] had no proof but it pleased him to think so(Menchen 3), but it is besides to point because regardless he considered himself one, and insulted the German blood line. He further stresses the importance he prescribes to the polish by saying Germany is a great nation [à ¢Ã¢â€š ¬Ã‚ ¦] because its p eople have so much polish blood in their veins [à ¢Ã¢â€š ¬Ã‚ ¦] there were giants in Poland at the time of my fore fathers(Menchen 2) he claims that reason that Germany is so great is because of the polish! It is evident that Nietzsche would have greatly disapproved of Hitlers prosecution of Polish people. On the study of eugenics, the selection of desirable traits for humans, Nietzsche actually favored the breeding of a race more intelligent, free-thinking, and less resentful then the folks he saw around him(Solomon 14) although he didnt discuss any ideas of practicing it. The central philosophy of Nietzsches that Hitler and the Nazis had taken was from Genealogy of morals is the blonde Germanic beast (some claim it just states blonde beast) that they take as support for Aryan superiority, the Historian Kelly Ross believes that Nietzsche was racist, although in the context it can be taken in different direction. In the same book Nietzsche all notes down what he thinks as the noble races the Roman, Arabian, German, Japanese nobility as for the Homeric heroes and the Scandinavian Vikings.(Frisian.com) He expressed praise for both Arabian and Japanese who were not Aryan stock, although what Hitler considered Aryan mainly was exclusive to mainland Germany. Hitler and the Nazi regime had o mitted several important texts from Nietzsche and mainly focused on the blonde Germanic beast and a motivational slogan. Nietzsche had claimed polish ancestry and believed the only reasons their society was successful was because of polish blood, if Nietzsche was alive during Hitler time, he would have resented him for this, not supported him. Many people dont consider Hitler not a Christian, based on his actions, not on what he believed or claimed. Whether Hitlers actions represented that of Christ or not is a separate issue, and from what historians can conclude from the evidence they have collected, Hitler was indeed a Christian. For instance, Hitler proclaimed that I am now as before a Catholic and will always remain so. And had his soldiers were had belt buckles that said Gott min uns (god with us) and had tried to back up his anti-Semitism with religion. Nietzsche however wasnt Christian; in fact he resented religion, so much that he had created the term God is Dead (Saugstad 2000). Nietzsche philosophy was based on atheism (Saugstad 2000), Nietzsche had a basic acceptance of Feuerbachs view that human beings incented God by devising of any sense of their own powers. It wasnt just it didnt believe in religion, It had resented and criticized it. In his book Anti Christ he writes Christianity is the religion of pity (Saugstad 2000) and was skeptical to the church and its ideology (Saugstad 2000). One of his main objectives was to turn the values of Plato and Christianity upside down(Saugstad 2000), Nietzsche had believed that Christianity promoted weakness and pity, and was blemish on the face of mankind, he disliked it so much that he desired for its extinction. Hitlers justification through Christianity and Nietzsches distaste for Christianity are clearly incompatible. Hitler had manipulated Germany, to the point where his authority was basically absolute in the nation. Nietzsche had appeared to be fairly indifferent to politics he very rarely speaks of politics (swgc.com). Nietzsche also had great distaste for authority, in the book daybreak he states in the face of any authority, one is not allowed to think, [instead] one has to obey!(Eurozine.com), if he was in the state of Germany at this time he would have evidently hated Hitlers totalerian regime, beacuse it contradicts what he stand for. There is a photograph of Hitler staring directly into the eyes of a Nietzches bust, and he would oftenly go to the Nietzche musem of Wiemeir to see the bust for himself. Sometimes Nietzche is victimized by the false premise that he himself, was a Nazi. This however is easily refuted because Hitler did not form the Nazi party until 1919 and did not ascend to power with it until 1933, several decades after Nietzsches death. Nietzsche was also not a fascist, his ideology, was more so that, his political beliefs, if he had any at all was the belief in no politics. (Solomon 16). In other words, Hitler had take Fredrick Nietzsche and formulated his own philosophy with little to no influence by him. Their views on anti Semitism greatly contrast each other, Hitler bases much of his political career on the extermination of the Jewish race, while Nietzsche when addressed with being an anti-Semite responds with great hostility as addressed in his letters to his sister. Hitler mystifying concept of racial supremacy, drips with irony for not only did Nietzsche claim full polish ancestry, but he also insulted German blood , and the atrocities committed to the Polish in world war two would evidently not been something Nietzsche supported. Nietzsches position on religion contradicts that which Hitler uses to motivate his troops, Hitler claims to be fully Catholic and motivated by god to destroy the Jewish race, whereas Nietzsche shows mostly skepticism and pessimism. It is clear that not only did Hitler greatly misinterpret Nietzsche, the evidence points that he may ha ve not read much at all, and just created a superficial attachment to Nietzsche, mostly based on nothing.

a memorable moment :: essays research papers

On April 17th, 2004, my eldest sister went into labor around 5:30 A.M. I honestly wasn't in the mood to go to the hospital so early in the morning, but my mother told me I should. My mom told me that it was a time when my sister really needed us. All I thought about was that she wouldn't even know whether I was there or not. My family and I took her to the hospital, and then everyone waited in the adjacent room. I never thought much about it, so I fell asleep. To me it was like," Whatever," she's just having a baby, another niece or nephew for me. You see, my sister and I were never that close to begin with. While we all waited in the waiting room, the nurse unexpectedly came in and asked for me by my name. She told me to follow her. My sister said that she wanted me by her side as she delivered. In my head I was thinking," Me...why me?" As I walked into the room, my sister looked at me and whispered," Hello." The doctor told me to keep feeding her ice cubes and keep her calm because the contractions were getting closer together and stronger. More doctors and nurses started pouring in and then it was time. Something inside me told me to just go to my sister and comfort her, so I went to her and grabbed her hand. She was experiencing a lot of pain, but still she managed to look at me and smile. I couldn't do anything but smile back. It seemed that everything was happening so fast because the next thing I remember was the doctor yelling," It's a girl!" My sister and I were so excited and we were both crying tears of joy. My sister hadn't let go of my hand, and I felt her squeeze me a little bit. I turned to her and she mouthed to me," Thank you," just before they handed her the baby. That one simple word just made me feel the warmest sensation in the world. It was as if everything at that moment was right. I stayed with me sister that day and the next and just stared at my niece until I fell asleep.

A Burning Intellect in Fahrenheit 451 :: Fahrenheit 451 Essays

A Burning Intellect in Fahrenheit 451 In the 1950 novel Fahrenheit 451, AUTHOR Ray Bradbury presents the now familiar images of mind controlING worlds. People now live in a world where they are blinded from the truth of the present and the past. The novel is set in the, perhaps near, future where the world is AT war, and firemen set fires instead of putting them out. Books and written knowledge ARE banned from the people, and it is the firemen's job to burn books. Firemen are the policemen of THE FUTURE. Some people have rebelled by hiding books, but have not been very successful. Most people have conformed to THE FUTURE world. Guy Montag, a fireman, is a part of the majority who have conformed. BUT throughout the novel Montag goes through a transformation, where he changes from a Conformist to a Revolutionary. Guy Montag has never questioned his job before the day he met Clarisse McClellan. FOR ONCE Montag is confronted with the idea that, he does NOT understand the whole truth about books.<WHAT DO YOU MEAN?> Montag meets Clarisse one day, as he is walking home from work, and they BEGIN A conversation. During their conversation Montag is questioned why books are illegal and why firemen burn the books. CLARISSE also asks him if he had ever read any of the books that he burned. His reply was that it is against the law. Clarisse even asks, "... long ago [did] firemen put fires out instead of going to start them?"(Fahrenheit 451, page 38) Montag replies by telling her that that is nonsense, and that "Houses have always been fireproof,..."(Fahrenheit 451, page 38) Here you can see how brainwashed and blinded the truth is for the people. Clarisse says good night to Montag, and right before she leaves she asks him, "Are you happy?"(Fahrenheit 451, page39) Before Montag can rep ly Clarisse is gone, and she leaves Montag pondering her question. As he tells himself that her question was nonsense, he starts to realize that he is not happy with his life. Someone else who changed Montag's thinking, changed it by their actions not by tell him anything.<YOU NEED TO EXPLAIN MORE SO THE READER KNOWS WHAT YOU MEAN.> One day the firemen got a call with an address of someone who was hiding books. The firemen, doing their job like always, went to the house to find the books and burn them.

Isolation in Brave New World Essay -- Brave New World

Isolation in Brave New World    "If one's different, one's bound to be lonely."   -John "The Savage" In the Brave New World, people who are different from the normal standard are alienated and isolated from society because of their individuality. The society of the Brave New World is structured and ordered – the government attempts to control everything. Alienation in the Brave New World can be categorized into three areas, appearance, intellect, and morals.      Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Bernard Marx was alienated in the Brave New World because of his general appearance. As an Alpha Plus, Bernard was unusually short and ugly. Suggested by Fanny, Bernard's condition resulted from an error when he was still in a bottle, the workers "thought he was a Gamma and put alcohol into his blood surrogate." Bernard did not fit in the structured order of the Brave New World and was therefore shunned by others. The error resulted in Bernard developing outside the barriers of his caste level. His ugliness and short stature led Bernard to become a perpetual outsider, alienated by society. As an outsider, Bernard was cynical of the order and structure of the Brave New World. He eschewed Electric Golf, and other social amusements in favor of loneliness and solidarity activities, such as, thinking. Bernard attempted to find a way "to be happy in some other way," in his own way, not the established way.      Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   In addition to alienation because of appearance, alienation can result from extreme intellect, or exceptional gifts of talent. Helmholtz Watson, an emotional engineer, was "a little too able" in his work. As Bernard was isolated from a physical defect, Helmholtz was isolated from mental excess. Despite being an "Escalato... ...re different and attempts to either ridicule, exemplify, or ignore them. In the Brave New World, society aims to preserve the homologous nature of living. With strict rules, crowd mentality and community actives the Brave New World attempts to get rid of the individual. Hypnopedia messages such as "When the individual feels, the community reels," and "Everybody belongs to everyone else," the Brave New World attempts to diminish the value of individuality and seeks instead to promote the idea of society first. Bernard, Helmholtz, and John are the few individuals of the Brave New World. They differ from the rest of society, because they recognize their uniqueness and realize that they are apart from society. It is because of their self-realization of their individuality that they are condemned to be ostracized from society and to live outside the Brave New World.   

Mpf System

In 2011, Hong Kong people aged up to 65 and above total for 13 per cent of the population that is a rapidly growing in ageing population. The ratio is evaluated to increase in 19 per cent by 2021 and will up to 30 per cent by 2041. According to this investigation, the Hong Kong Government first introduced the MPF concept in 1995 to assure that every citizens working in Hong Kong prepare the financial provision while they are retirement.In August 1995, Hong Kong Government announced a major stage in enacting the Mandatory Provident Fund Schemes Ordinance (â€Å"MPFSO) (Chapter 485, Laws of Hong Kong) to provide a formal project of basic retirement protection. The MPFSO submits the framework for the building a system of privately managed, employment-related MPF schemes for members of the workforce to form financial benefits for retirement.The MPFA was settled on September 17, 1998 to regulate, monitor and direct the operation of the MFP system. There is only about one-third of the wor kforce of 3. 4 million people had some join of retirement protection before the achievement of the Mandatory Provident Fund System in December 2000. But now, closely to 90 per cent of the working population are already joined in retirement protection.There is a large and elderly population without enough savings will enhance a huge burden on the society if the number of ageing people rises up. MPF is build mainly to support the basic retirement protection to the working population by saving. The main feature of this system include coverage all employees and self-employed people who are over 18 and under 65 years old, not including specifically exempt under the MPFSO, are included by the MPF system.An employee and his/her employer are both needed to contribute five per cent of the employee’s monthly relevant income as mandatory contributions for and in respect of the employee, subject to the minimum and maximum relevant income levels for contribution purposes. An employee if e arning below the minimum level of relevant income (HK$6,500 per month or HK$78,000 per year) is not forced to give but may they can elect to do so by way of making voluntary contribution.Despite of the employee’s choice, the employer must contribute five per cent of the employee’s relevant income. The purpose of maximum standard of relevant income for contribution is generally at $25,000 per month or $300,000 per year. Both employers and employees can also due voluntary contribution in excess of the statutory mandatory amount. Self-employed persons also need to contribute five per cent of their relevant income as mandatory contributions, depend on the minimum and maximum standard of their relevant income for contribution purposes.As the beginning of the MPF System in December 2000, the MPF legislation has been reviewed in the light of operational experience in order to strengthen the efficiency and effectiveness of the system continuously. With the enactment of the MPF Schemes (Amendment) Ordinance 2012 on June 21, 2012, a statutory regulatory control to enhance the regulation of the sales and marketing programmers of MPF intermediaries will be in place on November1, 2012 and the Employee Choice Arrangement will be announced on the same day.Further initiative are being undertaken to strengthen the MPF System, including the development of proposals to enhance flexibility in withdrawing MPF benefits. MPF fees and charges have come down slowly as a result of MPFA’s contribution to streamline administrative procedures, enhance fee transparency and expand the market competition. According the Employee Choice Arrangement in place, we all hope that the management handling charges would be reduced in future.

Filipino Mode of Thinking Essay

We, Filipinos, are considered hospitable and merry. It has been an attitude the majority enriches or embraces. For instance, looking into our hospitality, when a guest is present in our home, a treatment of respect and comfort will be provided for the person as if the guest is a member of the family. Whereas for being merry, when a problem emerges, a joke or two about the problem will be the response to make the atmosphere be calmer. All these qualities root from are â€Å"communal relationships†. Again we are known from these qualities. All of which are embedded in our culture that originated since pre-colonial times that we still carry today. A lot of things can still be considered to show our identity and uniqueness. It could either be present only in some areas or in the general public but all of these points to our Filipino mode of thinking. Our Filipino mode of thinking is considered as â€Å"oriental, non-dualistic, holistic and has unity between the subject and the object†. It is true on so many ways. Just observing the way our people act and build their houses are fitting cases. A Filipino identity is present even if one goes abroad; a habit that every Filipino will carry whenever he goes – the Filipino mode of thinking. A mode of thinking is a desirable element to have a rich culture and country; every country might as well have it but differs in their own notions or form. It may not apply to everyone due to the globalization, but a hint or two would still pass if there are people with that mode of thinking around that person. To give out examples of this Filipino mode of thinking, a lot can be stated. Two eminent cases are the tattooing art in the country and our â€Å"kamay-kamayan† eating or the buddlefeast. PhilippineTattoo Philippine tattooing has been an art since pre-colonial times which spreads to the three main islands of the country. The word â€Å"Pintados† (Painted Ones) was even dubbed for the Bisayans by the Spaniards. Tattooing is a phenomenon in the whole world nowadays that evolves since the early times. The so-called Pintados of the island of Visayas, Manobo of Mindanao and Kalinga of Luzon are the front runners of tattoo tradition and culture in the country. However, this tradition and art in the country has been partially diminishing in some of the tribes or areas. The few organizations and institutions are at times the only hope in trying to save this continuing crisis. PHILTAG, Mark of Four Waves Tribe and many others are the organizations that are reviving the tribal designs of our traditional tattooing tribes. These people advocate the start of a new revolution in Philippine Tattooing. It has been doing greatly for the past few years. At present, a lot of Filipinos here and abroad, and even those who are not Filipino, are having our tribal designs tattooed on them. Diversities and similarities are present for each country in terms of tattooing but it could still be identified through the processes or the designs themselves. Designs that depicts animals and nature which is one with the people that shows our mode of thinking is non-dualistic. Kamay-kamayan Filipinos are really fond in eating; it is seen in our fiestas, birthdays, wedding or just any party on that matter. These practices can also be the way one could show it hospitality and cheerfulness; for there are times when hosts give out carry-outs or take-outs for the guests or cases when even people the host does not know are invited or welcome. Eating has been essential to show one that he/she is high cultured using proper etiquette like the use of table knives, spoons and forks in different manners or activities. However, some Filipinos don’t practice such customs from time to time for they use their own hands to eat. It may look unhygienic or improper to others but it has been a practice that has been ongoing since before in our history; â€Å"Kamay-kamayan† or â€Å"kamayan† as they called it. I myself tried such a practice and discovered it is quite gratifying; and fitting for eating certain foods. It might as well be our bond to our ancestors which did not have those spoons and forks. It is still abundant in the country even in the urban areas. There are even restaurants that suggest people to eat with their bare hands. Also, â€Å"buddle feasts† are being a trend nowadays. It’s all about eating together, with a small or big number of people, having all the food on a same long tables sharing all these to everyone; another special thing about it is eating with your hands as well. This just shows that we live as a community and shows unity like that of the buddle feasts happening in the Philippine Military Academy and the annual event in Taguig that promotes unity and bonding. The sakop mentality and holistic concept also comes into play in this kind of practices. Eating with your hands may have its pros and cons but a culture correctly done will always be right and rich. Conclusion The Filipino mode of thinking is â€Å"oriental, non-dualistic, holistic and has unity between the subject and the object† as stated in first paragraph. The examples given show all these qualities. The Filipinos should also preserve and enrich these practices for the sake of the country’s culture. The country since before the coming of the Spaniards has a culture to be proud of. It is unique and shows the Filipino in its own way for â€Å"without culture, and the relative freedom it implies, society, even when perfect, is but a jungle. This is why any authentic creation is a gift to the future. †