Dr Montessori Emphasises the Importance of the Development of Imagination

Dr Montessori emphasises the importance of the development of imagination. How do cultural activities in a Montessori prepared environment aid in this development? Imagination, also called the faculty of imagining, is the ability of forming mental images, sensations and concepts, in a moment when they are not perceived through sight, hearing or other senses. Imagination is the work of the mind that helps create fantasy. Imagination helps provide meaning to experience and understanding to knowledge; it is a fundamental facility through which people make sense of the world, and it also plays a key role in the learning process.A basic training for imagination is the listening to storytelling, in which the exactness of the chosen words is the fundamental factor to ‘evoke worlds. ‘ Imagination is the faculty through which we encounter everything. The things that we touch, see and hear coalesce into a â€Å"picture† via our imagination. Imagination is the power of formin g a mental image of something not present to the senses or never before wholly perceived in reality. It is a creative ability or mental capacity for experiencing, constructing and manipulating mental images.Imagination is responsible for the entire range of fantasy, original and insightful thought and sometimes for a much wider range of mental activities. With children and their development, nothing is more important than imagination to help with the growth of thought processes and creativity. Children that are able to get away from it all and place themselves, mentally, in another world are more likely to be able to think â€Å"outside the box† and produce more creative results when learning and working.For this reason, the importance of imagination cannot be underestimated and should be encouraged when raising children. Curiosity holds an important place in the minds of kids because it helps provide them with the will to explore objects and places that they do not know. Chi ldren become curious from a very young age and begin to wonder about various notions in this broad universe, but it is imagination that helps carry the child beyond the boundaries of imagination and into a new world of discovery. It is imagination that begins to develop and occupy a very vital place in a child's mental world.With imagination, a child can move mountains, transport himself to a distant world, make himself smaller or larger, or disappear from sight. Imagination allows children to form new ideas and explore old ideas, all at once. For children with more to escape in their unfortunate realities, such as abuse victims or children with separated parents, imagination plays an even more critical role in development as it aids with coping. When children get scared, it is important to show them compassion and belonging. This can be accomplished through the use of imagination at play.Doll houses, miniature worlds, board games, role-playing games, or even a simple tent in the ba ckyard can promote imagination in small children as they are influenced through the limitless boundaries of the creative world. With more than these in mind, Dr Montessori emphasises the importance of imagination in children. Maria Montessori said â€Å"Free the child's potential, and you will transform him into the world†. When she said this, she also meant that imagination is one of the child’s potential that can be broadened over time.However Dr Montessori only emphasized imagination but not fantasy. She felt that young children would not be able to differentiate between reality and fiction if they got too much idea about fantasy. It is a fairly common concern among Montessori parents and critics of the method that Montessori discouraged imaginative play. Montessori herself says this: â€Å"Adults, even thought they punish or patiently tolerate the errant and unruly actions of these disordered children, actually favor and encourage their fantasies, interpreting the m as the creative tendencies of a child's mind.Froebel invented many of his games to encourage the development of a child's imagination along these lines†¦ Toys furnish a child with an environment that has no particular goal and , as a consequence, they cannot provide it with any real mental concentration but only illusions†¦. ‘divided' children of this sort are regarded, particularly in school, as being highly intelligent, even if they lack order, neatness, and discipline. † There is a clear distinction between fantasy and imagination.The Montessori learning environment is much different than the traditional model. Instead of information passing from the teacher to the student, the teacher is skilled in putting the child in touch with the environment, and helping him learn to make intelligent choices and to carry out research in a prepared environment. The teacher then protects the student's concentration from interruption. This fosters a love of lifetime lear ning in the student.

Axis Bank Future Plans

Axis Bank plans VRS to cut flab at top Anita Bhoir, ET Bureau  Dec 12, 2012, 06. 00AM IST * (The bank plans to roll out†¦) MUMBAI: Three years after  Shikha Sharma  took the corner room at Axis Bank, the country's third-largest private sector lender is making another attempt to cut flab. The bank plans to roll out an early retirement scheme for senior employees aged 40 or more, who have been with the lender for 10 years or longer. This is the bank's second attempt to trim its 31,000-strong workforce since 2009.The first attempt had received a lukewarm response, and this time the private sector lender has tailored the scheme to target people who may be good performers but don't have the ability to make it big. â€Å"This time, the scheme seems to be more targeted and we hope executives will prefer to accept it rather than be fired at a later date on the pretext of non-performance,† said an  Axis Bank  official, who requested anonymity. â€Å"The management wants to reduce the number of vice-presidents and senior vice-presidents. It wants a leaner and younger organisation,† the official added.Axis Bank is not the first private institution to offer an early retirement scheme. In its earlier avatar as a financial institution, ICICI had introduced its first  VRS  in 1996-97. The second scheme came in late-1999. Later, in 2003, the KV Kamath-led  ICICI Bank  announced an early retirement offer targeted at erstwhile employees of ICICI and Bank of Madura. Shikha Sharma, who headed ICICI Prudential before taking up the reins at Axis Bank, seems to be following the ICICI management style in her new job. Axis has 31,738 employees. Its staff cost was 577. 90 crore at the end of September 2012, compared with 498. 2 crore in the year-ago period. â€Å"The bank may face immediate financial burden as it would have to make lump sum payments to employees. However, over a period it would led to cost savings,† said Kajal Gandhi, an analy st with ICICI Securities. http://articles. economictimes. indiatimes. com/2012-12-12/news/35773778_1_shikha-sharma-axis-bank-private-sector-lender Axis Bank plans Rs 6000 crores share sale to meet Basel III norms ET Bureau  Dec 18, 2012, 08. 06AM IST MUMBAI:  Axis Bank, the country's third-largest private bank, is looking to sell as many as 4. 8 crore new shares to boost its capital before the  Basel-III norms  kick in, which at current prices may help it fetch more than Rs 6,000 crore. The lender, headed by  Shikha Sharma, will be the second private sector bank to raise funds this year after IndusInd Bank. City Union Bank's rights share sale is underway whileYES Bank  and  Development Credit Bank  are also in the process of raising equity. ICICI Bank  and  HDFC Bank  may also reach out to investors in the coming months for funds as the market for equity issuances opens up and the need to raise funds increases to meet capital norms. The capital raising is large ly to fund growth and also to meet Basel-III norms,† said  Kajal Gandhi, analyst ICICI Securities. â€Å"Other private sector banks like YES Bank and  IndusInd Bank  have also raised funds recently. † The equity issuance by Axis will lead to a 10. 75 per cent dilution. Axis said its board has approved the fund-raising plan, which will either be a domestic sale to institutions or a GDR issue. It also retains the right to sell to existing holders. Indian lenders are raising capital as loan growth is seen picking up next year after more than a year of sluggish demand.With the government proceeding with some reforms, investment demand may accelerate and banks will need to keep a higher capital buffer. RBI's plan to implement the Basel-III norms to prevent a repeat of the 2008 financial crisis mandates banks to keep higher capital. It will be implemented in phases over six years. Axis Bank's tier-I capital, or equity capital, is at 8. 99 per cent, compared with 7 per c ent prescribed by Basel-III norms. http://articles. economictimes. indiatimes. com/2012-12-18/news/35890925_1_basel-iii-shikha-sharma-axis-bank Axis Bank plans to step up lending to MFIsKOLKATA  Ã‚  Aug 13, 2012 Axis Bank – which had gone slow on lending to the microfinance institutions (MFI) post the recent crisis in the industry – now plans to scale up its exposure to the sector. The bank also looks at direct lending to self-help groups. â€Å"We had gone slow on lending to the MFI sector due to the recent crisis. However, with the regulations in place we plan to step up our lending to the sector,† said Ms Shikha Sharma, Managing Director and Chief Executive Officer, Axis Bank. The bank's exposure to MFIs was earlier in excess of Rs 800 crore.She was talking to newspersons on the sidelines of the launch of a financial inclusion programme organised by Axis Bank Foundation and microfinance institution Bandhan here on Saturday. MFIs have been recently criticise d on issues of multiple lending, evergreening of loans, lack of due diligence and coercive recovery practices. Axis Bank, Ms Sharma said, aims to achieve a credit growth in excess of 18 per cent during the current year. â€Å"The RBI has projected a growth rate of 18 per cent, we are hopeful of doing better than this,† she said.Asked about concerns regarding asset quality, she added, â€Å"There are no signs of rising defaults in the system at present. † http://www. thehindubusinessline. com/industry-and-economy/banking/article2354147. ece Axis Bank launches new campaign ‘Zindagi ke highway pe koi akele nahin badhta’ Udaipur, January 23, 2013: Axis Bank, India’s third largest private sector Bank, today announced the launch of its new campaign ‘Zindagi ke highway pe koi akele nahin badhta’ that aims to drive home the message that progress and subsequent success is mutual.The campaign designed by Lowe Lintas features Axis Bank’s Br and Philosophy ‘While we keep progressing in our lives, there always is someone else progressing along with us, so let’s Progress Together’. The campaign highlights Axis Bank’s credentials as a customer centric bank and a partner in progress who walks with its customers on the highway of life – hence the tag line Zindagi ke highway pe koi akele nahin badhta. Speaking on the launch of the campaign, Mr. R. K Bammi, Executive Director – Retail Banking, Axis Bank said, â€Å"The new film takes our brand positioning of Badhti ka naam zindagi†¦ or Progress On†¦ ahead.We understand that Progress always has a ripple effect. When one person progresses, others around him progress too. This insight is captured in our new TVC that clearly demonstrates the circle of progress and how you touch lives of others even when you do not know them. † Explaining this new phase in Axis Bank’s communication journey, Arun Iyer, National Creativ e Director, Lowe Lintas says that, â€Å"Last year we crafted ‘Badhti ka naam zindagi’ to define the fundamental philosophy for Axis Bank. The task this year was to continue building this sentiment on a larger canvass.What better than changing the frame of reference from what it means for one individual, to what it means in the context of the entire community we live in? The fact is that when you progress, others benefit too. And hence no one really progresses alone. When you move up, others do too. We hope the execution will make our audience have this joyful realization about how we are connected with each other. † Taking its philosophy of progress together Axis Bank plans to enable its customers to acknowledge contributions of others in their progress through an application called ProgressTogether.The application would be hosted on a microsite which can be reached on the URL www. progresstogether. in and will also be mirrored on Facebook. com on the Axis Bank page. Customers can use the application from their PCs and from their tablets. http://thetimesofudaipur. com/? p=1308 Axis Bank eyes 30 per cent retail assets by FY15 Press Trust of India | Updated On: October 17, 2012 12:46 (IST Private lender Axis Bank plans to increase the share of its retail lending from the present 26 per cent of the total loan book to 30 per cent by 2015, a top official said on Tuesday.As of the September quarter, the third largest private lender saw its retail loan book jump by 5 percentage points from the year-ago period, Axis Bank Executive Director Somnath Sengupta told reporters in a post-earnings conference call. On a year-on-year basis, the retail banking grew 43 per cent as of the second quarter, while large and mid-corporate banking grew just 15 per cent, he said. â€Å"The focus on retail assets will continue to grow, and our target is to take it further to 30 per cent by the end of FY15.It is a part of strategic intent to grow the retail book. We a re expanding through home, auto and personal loans. We are also selling credit cards to our existing customers. † On Monday, the bank reported better-than-expected Q2 numbers logging in 22. 08 per cent rise in net profit to  Rs. 1,123 crore. Terming the quarterly numbers as satisfactory despite a challenging environment, Sengupta said retail advances and lower expenses helped the bank post good numbers.Total income rose 27 per cent to  Rs. 8,280. 29 crore in the July-September quarter. NII rose to  Rs. 2,327 crore from  Rs. 2,007 crore, while other income grew 29 per cent to  Rs. 1,593 crore, driven by growth in fee income which stood at  Rs. 1,343 crore, a growth of 20 per cent. The bank saw its trading income rise to  Rs. 207 crore during the quarter, he said. The bank improved its net interest margin to 3. 46 per cent in the reporting period from 3. 37 per cent at the end of the first quarter.Sengupta further said the bank could maintain asset quality as its g ross NPAs and net NPAs stood barely unchanged at 1. 10 per cent and 0. 33 per cent, respectively as against 1. 08 per cent and 0. 34 per cent as of September 2011. The bank held a provision coverage of 80 per cent as a proportion of gross NPAs, including prudential write-offs. The bank had made an additional provision of  Rs. 115 crore in the quarter, he said, adding it has provided for the exposure to the troubled Hyderabad-based Deccan Chronicle Group, which has become a bad asset now.However, Sengupta did not reveal whether the bank has made full provisions for the Deccan loans and also the exact amount of the exposure. However, it has been learnt Axis Bank has exposure of over  Rs. 400 crore to the diversified company. Asked about the bank's exposure to the state-run power distribution companies (discoms) whose  Rs. 1. 9 trillion of debt was recast last month, he said it was â€Å"limited† but refused to quantify it. Similar was his response when asked about the tex tile sector, whose  Rs. 16,000 crore of debt is being recast with government intervention now.Sengupta also refused to disclose the status of other two default accounts– SevenHills Hospital (exposure at around  Rs. 463 crore) and Icomm Tele (around  Rs. 220 crore). About fresh slippages during Q2, he said the quarter saw a gross slippage of  Rs. 628 crore primarily due to a large corporate account. During the quarter, the bank saw  Rs. 99 crore incremental slippages net of restructuring and upgrades. http://profit. ndtv. com/news/corporates/article-axis-bank-eyes-30-per-cent-retail-assets-by-fy15-312162

Biome Shifting

Global warming is a mostly natural process that has been going on for as long as Earth has existed. Global warming has many effects on the Earth such as rise in sea level, overall increased rise in the temperature of Earth, and even bizarre weather. However, the topic I will discuss today is how global warming causes climate changes and how this climate change affects our environment and our economic systems.Climate change occurs worldwide due to the growth of greenhouse gases in our atmosphere which then traps more heat coming from the sun than it would without these gases. This makes the Earth milder which then causes change in climates over the globe to change their patterns. Bimbo shifting is one main consequence of climate change and global warming. This has a broad economic impact as it alters our infrastructure and sources of goods.However, it also poses large amounts of environmental threat as there is becoming less biodiversity and habitats are shifting. This bimbo shifting affects our infrastructure in that many of the buildings we eave built up to today haven't been built to endure such a wide range of temperatures and as these bizarre temperatures continue to shift back and forth our infrastructure is deteriorating much faster than it would in stable weather. Considering this, the maintenance of these building will require much more funding as it will have to be done more often.This could cause economic problems as it could increase the need for higher taxes to do required maintenance on governmental buildings and public schools which reduces the amount of money being able to be circulating through everyday businesses. Bimbo shifting also affects the sources of many of our goods. On Canada's west coast there is a species of salmon that is increasingly economically valuable. However, this species is beginning to have reduced survival rates causing decreased population density and a decrease in the amount of fish being able to be sold as goods.This hi ts the economy as the fish were needed to provide food or work for many people in Canada. The climate change also affects some of the forests worldwide. In Alaska, a spruce beetle population has been able to grow dramatically over 20 years due to warmer weather. This then caused over 4 million acres of spruce trees in Alaska to be destroyed by the increased population of beetles. This shows how the climate change can destroy what could be used a resources in the future.With bimbo shifting causing increased temperatures in places that normally would be cooler, some species are having to slowly shift where they find their habitats. For example the long-spines sea urchin was previously only found as far south as southern New South Wales in Australia, but now, due to increasingly warm waters and changes in currents, these sea urchins have moved farther south. They have decimated kelp forests in this region causing the ecosystem to slowly deteriorate as it becomes more and more unbalance d.Climate change is expected to threaten one quarter or more of all species on land by 2050 passing even habitat loss as the biggest threat to life on land. Bimbo shifting is a huge problem for many species as they have evolved to live within certain areas under certain conditions and as these conditions change quickly, some species are unable to adapt quickly enough to survive. When one species food source can no longer survive, that species then is heartened as it must find another food source or it will not survive either.This then causes less biodiversity as species become threatened and eventually extinct. To address this worldwide problem of bimbo shifting, scientists are trying to decrease the amount of greenhouse gases that enter our ecosystem. They are collecting emissions data and trying to get the government to impose new laws and limits considering consumption of fossil fuels. Scientists are working with engineers to create new engines for cars that reduce the amount of fossil fuels required to power them or even eliminate the need for fossil fuels altogether.Solar panels and wind turbines are also being designed to harness energy from renewable sources instead of burning fossil fuels. The U. S. Has also steered away from using coal and has begun using natural gas to power the nation. This switch has significantly reduced carbon emissions over the past decade. Though many people probably think that the effects of global warming only go as far as environmental changes, there is really a ripple effect created by these changes that branches out and causes more and more problems. Global warming is directly related to environmental, social, political, and even more aspects of the world.All of the consequences prove how we, as people who rely on the Earth to survive, need to take better care of our home.

Richard Neustadt's Studies Presidental Power Essay

Richard Neustadt's Studies Presidental Power - Essay Example Neustadt starts his book with a sober appraisal of the American Presidency. He states that the American people tend to rate a President "from the moment he takes office . . . we are quite right to do so . . . his office has become the focal point of politics and policy in our political system" (Neustadt, p.1). He also argues that "we often make our judgments upon images of office that are far removed from the reality" (Neustadt, p.1). It is this discrepancy between image and reality which is one of the most important elements of Neustadt's book. Neustadt also argues that while it is perhaps natural to concentrate on the President as a single individual, a more accurate portrayal would consider the "presidency" as an institution that includes "two thousand men and women" (Neustadt, p.1). The overall argument that Neustadt makes is that Presidents who lead by persuasion rather than relying upon Constitutional power are more successful. While there are complex reasons for this, the over arching reason is that the President is innately weak under the US Constitution according to Neustadt. How can President Clinton be viewed through the prism of Neustadt's theory of the Presidency Bob Woodward's The Agenda: Inside the Clinton White House takes a very close and unsparing look at the first one hundred days of the Clinton presidency. While a convenient figure, the first 100 days also has historical importance because it was within the first 100 days that President Roosevelt introduced the major elements of the New Deal and swept into existence a whole range of government programmes. This achievement is perhaps an impossible target for any President, but it is the one that inevitably seems to be made. In The Agenda Woodward paints a portrait of a President who was essentially nave, but who nevertheless had good intentions. The idea that Clinton should use persuasion rather than constitutional powers to actualize his agenda is seen perhaps within the surprising fact that Clinton appears to have been greatly influenced by the Federal Reserve Chairman, Alan Greenspan. Although much older, a staunch conservative and possessed of a distinct lack of charisma (and thus the opposite of the new President), Greenspan and Clinton actually got on very well and the Fed Chairman soon persuaded the Democratic President of the need to take bold action in order to reduce the national deficit. It was the economic success that would ultimately be Clinton's most powerful achievement and one that was based upon constitutionally derived powers rather than charisma. Clinton had attempted to use charisma, persuasion and a Democratic Congress in order to push through a comprehensive healthcare plan that would have introduced universal coverage to American for the first time. Based upon a moral certainty that this was the only ethical course for America, Clinton ignored the practical problems of getting the legislation through Congress when very powerful interests (the healthcare industry) were laid out against it. The picture that Woodward paints is of a President who is often torn between what he wants to do ideologically and what he can do pragmatically. For example, the following occurred during one early Cabinet meeting. The Cabinet was discussing fiscal policy and the two sides of Clinton, the Liberal idealist and the Conservative

Con For Military Draft Research Paper Example | Topics and Well Written Essays - 1500 words

Con For Military Draft - Research Paper Example The military draft was used in the US particularly in the times of war and the cold war period. This was the best way that the US could use to ensure that it maintained a viable and a strong military because of the injuries and the deaths that its military suffered. However, in the current age, there are better ways of planning for war and security issues rather than using a military draft, in addition to, the fact that wars are not widespread like in the yester centuries. Disabled military veterans are currently fighting the bureaucrats of the veterans’ affairs department in order to fight claims for healthcare services and disability benefits to cover for the war injuries they sustained on duty while serving their country. Some of them have waited for too long. As a wakeup call, the US should not reinstate the military draft because the military involves an exposure into a life-threatening environment where the military personnel are exposed to dangers of death but also the dangers of being permanently disabled. Instead, the US government should invite all in the required age bracket of 18 to 21, for an active duty of service to assist physically and mentally challenged citizens from overseas injuries. However, this should be done voluntarily as opposed to through a military draft (Rosebrock 77). The federal government spends trillions of dollars training innocent minds and strong bodies to be professional killers against enemies. In order to reduce such cases, the US should not reinstate the military draft. Newly inducted citizens can be assigned to work and serve as peacetime draftees at hospitals, to assist in administration, nursing and facility maintenance and also assigned to work on full time basis, to take care of the individual disabled veterans and their families and be integrated into the society rather than being ignored, and neglected. However, this decision

The Concept Of Marketing Mix Case Study Example | Topics and Well Written Essays - 2000 words

The Concept Of Marketing Mix - Case Study Example The first objective in marketing is discovering the needs of prospective consumers. Effective marketing can clearly shape persons wants and tries to influence what we buy. The second objective in marketing is satisfying the needs of targeted consumers. Because an organization obviously can’t satisfy all consumer needs, it must concentrate its efforts on certain market one or more specific groups of potential customers towards which an organization directs its marketing program. Having selected the target market, consumers, the organization then takes action to satisfy their needs by developing a unique marketing program to reach them. These programs are planned to achieve organizations objectives. The marketing mix is the set of marketing tools which the organization uses to pursue its marketing objective in the target market  ¼Borden, 1994). McCarthy (1999) classified these tools into four broad groups that he called the four Ps of marketing i.e. product, place, promotion a nd price. Marketing-mix decisions influence trade channels as well as final consumers. Typically, the firm can change its prices, Salesforce size and advertising expenditures in the short run, although it can develop new products and modify its distributions only in the long run. Normally the firms tend to make fewer marketing mix changes in the short run. Clearly, marketing activities should be carried out under a well thought out philosophy of efficient, effective and socially responsible marketing. But with the growth of different activities at the market place these marketing tools i.e. 4 P’s may not be sufficient for the organization to have effective marketing action. Although it’s still very important to run an efficient operation, that alone is no longer enough for success.

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

Pd film - Movie Review Example The primary character in this case is Max Klein, one of the survivors after the plane crash. On realizing that the plane is on a crash course and there is minimal chance of survival, he gets comfortable with the idea that his life is going to be ended. In this situation, Max did not want it to be that he was the only one. This is because there were a whole lot of passengers who were scared by the situation at hand. It is at this point that we see the power of thought and the belief system, which a person has, working for them. Max is of the opinion that he is going to die and he has willingly accepted the fact. In this same case, he offers the other passengers a semblance of consolation. The other way through which this event seems to have changed the life of Max is by letting him do away with some of the fears, which he had. In this case, the fear, which is in question, is the fear of flying. This is something, which is exhibited when he declines the tickets, which were offered to him for the purpose of transport to San Francisco. He clearly states that he does not fear flying anymore. What this shows to the normal person is that it is of the essence to let of the fears, which act as barriers to the development of a person. The reason for this is that it may be difficult for the individual in question to make any significant progress in his or her life. This is simply because he or she is tied to the fears, which he or she seems to be having in his or her life. The happenings in the film also point out to the viewers that it is very important to be people who live for the moment and enjoy the pleasures which life has to offer. This is a fact, which was highlighted when Max met up with Alison, his high school sweetheart. Initially, it is realized that he had an allergy for strawberries. However, upon their meeting, Alison notes that max is eating strawberries. She questions this and the answer gives is that Max had gotten past his

Strikes Research Paper Example | Topics and Well Written Essays - 2750 words

Strikes - Research Paper Example As a means to an end, it recommends strategies that an organization can implement to maintain a successful working relationship with the unions. The management plays a pivotal role in a firm. It ensures that the working environment is conducive for the employees; hence, reducing cases of strikes. It also works jointly with the unions to improve the welfare of the workers and ensure high productivity. Additionally, it controls and manages the activities of the firm to guarantee smooth running of the business. Most of the organizations have unionized employees; thus, the unions ensure that the rights of the workers are fully protected. On the same note, they impact organizations negatively and positively. For instance, they ensure increased profitability, reduced turnover, and improved relationships with the employees. However, in case there are disagreements, there is likelihood of engaging in strikes; hence, low profit and negative publicity. In that case, organizations need to work jointly with the unions by seeing them as partners and developing a strategic partnership with them that is based on respect and trust (Ghosh, 2 005; Tschida, 2006). This discourse focuses on discussing the role of the management and unions in an organization. It also gives a detailed summary of the effects that unions have on the management. Finally, it recommends strategies that organizations can implement to create a productive working relationship with the unions. It is without doubt that the trade unions play a major role in enhancing productivity; thus, managers should work together to maintain a positive working setting that is based on mutual trust and social cohesion. Managers are paramount in a firm as they ensure all activities are in accordance to the stipulated goals. The main role of an organization’s management is to guide firms towards accomplishing their goals as well as

Finance Assignment Example | Topics and Well Written Essays - 1500 words

Finance - Assignment Example joint venture. Sainsbury’s offers food and non-food items at its supermarkets and convenience stores along with that it also operate online grocery store and general merchandise operations. Sainsbury operates almost 1106 stores that includes 583 supermarkets and 523 convenience stores. Company also holds interest in freehold and long lease hold properties and also the properties that come under their joint venture agreements. In its financial services sectors it provides credit cards, insurance, loans and savings advices also relating to energy efficiency at customer homes. Sainsbury also provides selection of movies, music, books, games and other entertainment products (Yahoo, 2013). Sainsbury’s holds almost 18% share of the UK supermarket and is the second largest supermarket chain in the country. Despite the fact that Sainsbury is the UK’s second largest supermarket chain it is the returns that the company offers that would attract the investors and the share towards the company not the quality of the services or the size of company itself. In order to understand how much value is given or created by the Sainsbury to its shareholders and investors it is important that analysis of it’s incomes, returns that it offers, its operations, liquidity position and the growth that it offers in the future is thoroughly made. Thus to get the full understanding cash flow analysis along with its income statement is made to have idea about its liquidity position. Both inflow and outflow of cash in the company is assured through three different activities that the company goes through operating, investing and financing. All three activities of Sainsbury are discussed as follow. Over the past three years Sainsbury’s Plc. have been reporting net income however as analysis of its profit margins are done it is seen that in the current period its profit margins re lagging behind to that of the industry average. It can be said that the company is

Criteria of Leadership Effectiveness Research Paper

Criteria of Leadership Effectiveness - Research Paper Example   This is a critical position. Managerial skills, competency, accountability, service delivery and program implementation are some of the criteria through which a minister is evaluated. Managerial skills entail the ability to control the whole ministry, for instance, the Ministry of Education and ensure efficiency at all lower levels. In actual sense, it is termed as administrative capability Competency bases on the ability to deliver and suitability to hold such a high profile position. In such cases, evaluation based on educational background and experience. Accountability, though a managerial skill, it is an independent variable. Ministries deal with lots of cash and thus a minister is evaluated on the basis that the money and services can be accounted for to the last coin. Service delivery is the actual performance towards the set goals. Ministerial positions aim at serving the public and thus its effectiveness is based on this principle by delivery satisfactory results. It all depends on proper implementation of programs.This is the most widespread form of ethical challenge present in almost all organizational systems. By prioritizing issues, there is a huge chance for entities to use bribe as a tool with which they can ensure their ideas are given the first priority. Such unauthorized or formal procedures are considered unethical in any setup. It is difficult to fully contain every bribery situation but it can be reduced by sticking to the stipulated guidelines and penalizing those who indulge in such activities.

Energy Drinks Essay Example | Topics and Well Written Essays - 1000 words

Energy Drinks - Essay Example The intake of the energy drinks thus is seen to reduce the number of accidents that take place every year. More people are encouraged to use the drinks rather than taking drinks that are alcoholic. It is true to say that the intake of the energy drink has gone up in many parts of the world. The reason for this is that most people are welcoming the drinks intake more and more as compared to the intake of alcoholic beverages. We can, therefore, say that since the energy drinks are not alcoholic, they have become more and more popular in the reduction of accidents. The fact that the energy drinks are seen to be made of low-carb also gives them a major advantage in the market. This means that on the intake of the drink, the whole body is filed up and the brains function is boosted. The consumer, therefore, gains the ability to carry out tasks they couldn’t carry out in the normal states of their bodies. Non-carbohydrate diets are said to be ketogenic. The meaning of this is that t hy cause the body to go into a state of ketosis. When a human body is said to go into a ketosis state, it means that the body fats, as well as the dietary fats, are converted into ketone bodies thus fueling the whole of the body to ninety-five percent. The body becomes very active and the brain becomes very alert causing the person to become more active than they were before the intake of the drink. All the positive effects of the energy drinks result in more people going to the stores and purchasing the drinks.

Cognition domains Essay Example for Free

Cognition domains Essay Events that happen in an adolescent’s life can affect one of three domains; these three domains are known as ‘psychosocial’ ‘cognitive’ and ‘biophysical’. This essay will focus on the area of the cognition domain now this domain will be discussed in relation to an event that has affected my perception of the world around me, the way I feel in relation to blame and judgment and lastly the ability to learn how to be more reflective. My perception on life changed rapidly when I was informed of a tragic accident concerning the suicide of a family friend. This caused a rapid change in the way I thought about death, grief and sadness. â€Å"David Elkind proposed that formal operational thought also leads to adolescent egocentrism (difficulty differentiating one’s own thoughts and feelings)† (Sigelman, Rider, De George-Walker, Pg 173, 2013) This has impacted the way that I look at the world having gone through this experience I now see that people’s perception can change no matter what. I guess what’s trying to be said is that everyone’s perception is different and it is changing due to the experiences that we all encountering in our everyday lives. The judgment that came after the tragedy was phenomenal. Greg Newham will always be loved and greatly missed but never will he be forgotten. Was it my fault that he died? Greg Newham was a teacher. If I had visited him when the bell rang after school would he still be here today? I did not understand his wife’s decision to not let me go to the funeral. And because of this, because I never got to say my final goodbye it is hard to let go. Hard to move on. A book written by Temple University in the USA about seeking closure states â€Å"closure typically implies that something is finished, ended, closed. Finally you can move on† (2014). Without closure I feel that I am always judging myself. Always questioning my motives, wondering if I could have done more. The last aspect of cognitive development that was affected by this experience was learning. It is hard to live with the knowledge that someone’s death was your fault, even if rationally you know it wasn’t. Those left behind never usually learn the reasons as to why they harm themselves and those around them. Bronfenbrenner’s view of a developing person, with his or her  biological and psychological characteristics are embedded in a series of environmental systems which interact with each other and with the individual over time to influenced development. (Sigelman, Et.al, 2013), with all the developmental events that we all go through it is fair to say that the learning side of our cognitive development is always changing. This essay was written to explain the affects of our everyday lives and how it affects our cognitive domain. With what was said from Bronfenbrenner and David Elkind it is clear to say that the choices we make today do mostly change our lives in some way/s. I never completely understood the affects from my life could change the way I see and think about everything that I do today. References; Sigelman, Rider and De George-Walker, 2013, Life Span Human Development. Temple University, USA, 2014, http://www.temple.edu/tempress/chapters_1800/2136_ch1.pdf

Analysing The Novel Elegy For My Father English Literature Essay

Analysing The Novel Elegy For My Father English Literature Essay Elegy for my Father is a melancholy piece of poetry which uses descriptive imagery in order to describe a fathers last hours. The original definition of an elegy was a dedication to a persons life, either in mourning or sorrow. This example is written in six separate eight line stanzas, each flowing from the next. The poem could also be described as a form of lyric poetry because of the deep thoughts and feelings expressed in it, and the story it is telling. The sombre metre of the poem uses dactylic tetrameter, which creates a kind of rapid effect, and also with the unrhymed lines creating a less flowing rhythm, with a more jagged like tone throughout the poem. The variations of the chosen dactylic meter illustrated in the first stanza, range from the trochee in lines 1 and 7, the cretic in the first foot of line 2, the bacchic in the third foot of line 2 and the running start or extra syllable beginning in the first foot of line 4. The different mix of the poetic forms shows how the author, Annie Finch, illustrates freedom and expression in her writing. In his review of Annie Finchs poetry, Michael Parker states, Finch is simply a master of meter, displaying a distinct, complex yet highly readable metrical system, most unique for contemporary poets. The main subject, the father, has little of his life left to live and Finch wants the reader, to journey through this particular time in great detail. The images of vigil evoked in this poe m allow the reader to develop a feel of the pagan ritual of mourning the death of a loved one. The spiritual views which Finch follows so boldly and weaves into her works beautifully are very vivid in the imagery used in Elegy for my Father. Ted Richards wrote in Jacket Magazine that Finch, who has described her work process as including the whispering or muttering, shouting or chanting or singing her words aloud as she writes, has brought that song into the words in a way that we associate with poets of an earlier era, like Tennyson or Kipling. Throughout the poem, the repetitive use of you and he for the father is significant because it creates that close personal feeling of a father and his daughter, and how death can change it all. It also creates empathy in the reader towards the subject. In the later part with lines like Night, take his hand and He has given his body we can feel the distance which is created by death. This creates that feeling of transition and distance which one goes through in the ritual of mourning the death of a loved one. In the transition from you to he Finch has created that feeling of departure just like creating the most moving moments in an elegyà ¢Ã¢â€š ¬Ã‚ ¦. when a poet juxtaposes the mourners address to the dead person with a sympathetic but sceptical testing of that convention: If the dead are forever deaf and inert, how can they hear what we say? (Shaw, 1994) The two epigraphs presented in quote form at the beginning of the poem act as a preface to the subject of the poem: death as part of the natural circle of life. No earthly shore until is answered in the vortex of our grave. The word grave mentioned early on in the poem reveals ideas about death and earthly shore about the earth bound physical part of our life before we move on to the spiritual life beyond. In the next line, the seals wide spindrift gaze towards paradise, the seal and paradise emphasise that once dead in the physical sense, you are passed on to paradise. Similarly with the lion in the second epigraph, it is as if we the readers are to believe that humans can be compared to an animal as large and triumphant as a lion or a seal perhaps. The reason for the epigraphs at the beginning of the poem is to create a strong indication of the poems theme that is to follow. Finch uses two quotes from a poet (Crane) and a philosopher (Wittgenstein, in whose work her father was a pa rticular expert) to inform her poems content. In comparison, T.S. Eliots poem Gerontion uses an epigraph taken from Shakespeares Measure for Measure: Thou has nor youth nor age/ But as it were an after dinner sleep/ dreaming of both. A popular choice among literary writers, the epigraph sets the scene for what is to follow and enables the reader to form their own ideas about the theme chosen. In the deep room where candles burn soundlessly and peace pours at last through the cells of our bodies. Lines 1 and 2 of the second stanza echo line 1 of the first. The repetition of both adverbs soundlessly and wordlessly is an example of where Finch has attempted to use rhyme but in a completely different way. The family of the dying father is watchful by his side, Three of us are watching, one of us is staring. It is almost as if they know what is going to happen, but they want to stay in the moment forever and not see him die. With the wide gaze of a wild, wave-fed seal. Incense and sage speak in smoke loud as waves. The descriptive imagery Finch uses, particularly the alliterative w sound in line 12 and the sibilant s sound in line 13 in the second stanza shows that she is using sound to illustrate how she is feeling. The repetition of these consonants and the use of the nature theme help to create an image of happiness, and not sadness. Crickets sing sand towards the edge of t he hourglass. The hourglass signifies an end point in time, but if crickets are singing then there could be an element of joy too. It is the difference between our imaginations and reality that the focus of this poem is illustrating. It is showing the balance of light and dark and death alongside life. Overall, the description of the room and the imagery used suggest aspects of Pagan ritual the references to incense, candles and circles and to animals. There are roughly three sections of this poem; the first being the descriptive tribute to a father most loved, the second being the father losing grip on his life, with his family close by, we will stay with you, keeping the silence we all came here for, and the last involving the moment in which he dies, Silence is here. In the fifth stanza, lines 34, 35 and 36 all begin with the word spin. This is the first noticeable pattern of words chosen by Finch. The effect of repeating each line with the same word affects the outlook on the situation. It is as if the death which is happening is such a blur that it spins impatiently, waiting for an outcome. Lines 38 and 29 of the same stanza also begin with the repeated word flying. The similarity between spin and flying, both of which suggest adventurous actions demonstrate that at this point, that the father is nearing a dignified death, His breath slows, lending its edges out to the night. Ending with the last stanza, where the father dies, it is important to point out that with the authors pagan religious beliefs, the theme throughout has been that death is much more than just death alone. It is likened to nature, and the soul; He has given his body; his hand lies above the sheets in a symbol of wholeness. This powerful imagery and religious (albeit Pagan) input infuses a feeling of warmth and strength for the ending of the poem. We the readers are left to our own imaginations, words such as gold, flame, temple, and prayer paint the scene of the mourning and passage of a person into the realm of death with ritualistic and religious sanctity. Edain McCoy has said that, when one defines oneself as Pagan, it means she or he follows an earth or nature religion, one that sees the divine manifest in all creation. The cycles of nature are our holy days, the earth is our temple. Annie Finch in Elegy for my Father creates a personal outlook on her fathers death framed by her own Pagan beliefs. 1,492 words Endnote 1. The writer of the poem was identified by typing the first two lines of the first stanza into Googles search bar, and following the first link to: http://famouspoetsandpoems.com/poets/annie_finch/poems/22499

The Importance Of Oil Price In Market Economy

The Importance Of Oil Price In Market Economy Oil price has become a fundamental factor of todays market economy as it influences financial markets as well as consumers, corporations and governments. Oil fluctuation has not only a tremendous impact over the stock markets but also a major influence on the global economy: oil is needed for industrial purpose such as power generation, chemical products, transportation etc. In particular oil demand and supply drive volatility and any upward or downward price movements is tracked by any financial market player as it directly influences future outlook and real growth of exporting and importing countries. Higher crude oil price implies higher price of energy leading to a slower economic growth, inflationary pressure, asymmetrical results on consumers and producers side and global imbalances. Oil scarcity and increasing demand of emerging market countries have changed oil market as well as political uncertainty leads to an increase in oil volatility. Since 2000, crude oil has experienced an incredible price rally, moving from $25 in 2000 to over $144 in July 2008 and getting back later December 2008 to $35. These huge price changes are mainly undesired because they increase uncertainty and undermine investment in oil as well as alternative energy sources. Even if we are getting more and more familiar with this price uncertainty or at least with oil price volatility, it is necessary to understand the key driver of this commodity in order to be able to conduct accurate studies and to forecast and prevent new worldwide market chock: there are mainly two different explanation to oil price behavior. The first one is related to the idea that markets are experiencing a structural transformation in oil price fundamentals; the second one is related to substantial speculation in oil market. The supporters of this second view argue that the massive oil crude price cannot be explained by simple change in market fundamentals but can be rather explained through a market distortion caused by speculators. This dissertation will investigate oil and the oil market players trying to understand the different price determinants and the interaction of key players: it starts with an historical overview of oil price and it successively analyzed oil as a commodity, oil as a financial asset, the role of expectations in the formation of oil price, the industry outlook for the next years, oil derivatives on the financial markets. Oil Fundamentals History Oil industry was born in the 1859 in Pennsylvania, United States when Edwin Drake opened the first oil well. The industry grew slowly during the second half of 1800 when the business pioneer George Bissell together with the banker, James Townsend, established the first oil company: Pennsylvania Rock Oil Company. The industry became more and more attractive and in 1870 John D. Rockefeller established the Standard Oil Company. Boosted by the introduction of the internal combustion engine and by an increasing energy demand caused by the outbreak of World War I, the oil industry became one of the foundations of modern industrial society, ready to overcome coal as the most used and requested energy source. As the graph points out the price of oil remained steady from the beginning of the century until the first energy crisis, risen by less than two percent per year. Spot crude oil price moved from $2.83 per barrel of 1973 to $10.41 of 1974. This increase in price was caused by the oil embargo proclaimed by the OPEC, Organization of Arab Petroleum Exporting countries in response to the U.S. decision to re-supply the Israeli military during the 1973 Arab-Israeli War, fought between Israel and a coalition of Arab states backing Egypt and Syria. The OPEC countries limited their production as well as the shipment of oil cargos to United States and other countries. The embargo led to quadrupled and extremely volatile oil price and it showed how high was the dependency of western economies from the oil reserves controlled by the OPEC members. Following the first oil crisis, in 1979 took place another sharp rise of oil prices following the Iranian revolution: the overthrow of the regime of Sha h Reza Pahlavi triggered a strong speculative movements of oil price. The price increased from the $14 needed to buy a barrel in 1978 to roughly $30 in 1979 causing a widespread panic and affecting geopolitical forces. Moreover in 1980, Iraqi invaded Iran leading to oil cut production of Iraq and a total stop of Iranian production. All these events strongly influenced oil price and demonstrated how pure supply and demand get overcome from sociopolitical facts. The so-called oil glut of 80s changed again the oil market environment as the price of the black gold fell from $35 to $15 in 1986 due to a falling demand, slowed economic activities in industrial countries and an increase in production. The crude oil price fluctuated between $15 and $25 until 1999. At the beginning of the new century the oil price increased exponentially and reaching $30 in 2003, it moved to $60 dollar in 2005 and peaked at $148 in 2008. This incredible ride of oil can be explained by different factor such as decreasing US Dollar value against other currencies, declining petroleum reserves, speculation, increasing demand from emerging market and OPECs lower than expected increase in production. But after reaching the peak on July, 11th 2008 the price declined consistently falling below $100 on September 2008. Because of the financial crisis world oil demand fell rapidly and in just a couple of months it touched the lowest point at $34. Until April 2009 oil price flu ctuated between $35 and $40 and recovered to roughly $70 in early 2010. Oil as a product People are more familiar with refined oil products such as gasoline, diesel, kerosene and heating oil rather than with crude oil. The basic oil refining process is distillation: crude oil is heated and oil products bubble off at different temperatures, the lightest at the lowest temperatures and the heaviest at the highest temperatures  [1]  . Afterward these products are treated further to make finished oil products such as gasoline kerosene etc. Gasoline is commonly used for cars while kerosene is widely developed for airplanes and households illumination heating. Diesel is widespread as combustible for tracks and agricultural machines while heating oil is mainly used for space heating. Oil this different refined products come from crude oil and even if crude oil is considered as a commodity, there are several qualities of crude depending mainly on two different chemical properties: density and sulphur content. Crude oil is therefore divided into heavy or light according to the density level and sweet or sour according to the sulphur content. Nonetheless, in financial market, the three most quoted products are: West Texas Intermediate Crude, WTI very high-quality, sweet, light crude widely traded in Nord-America Brent Crude a basket of 15 similar middle-high quality, light, sweet crude oils extracted in the North Sea Dubai Crude light sour crude oil extracted in Dubai Even though West Texas Intermediate Crude has the highest quality, Brent is used to price two thirds of the worlds internationally traded crude oil supplies according to the International Petroleum Exchange (IPE). Oil characteristics: Exhaustibility One of the leading feature of oil is that oil is a non-renewable resource as once it is consumed, it is no longer available. In particular once extracted, oil is consumed quicker that it is naturally produced: oil is therefore not replaceable within short time. Another very important feature is that supply of such as product is limited relative to demand. This two characteristics are essential to understand that oil can only be analyzed through dynamics models and that unlike standards goods, oil provides oil holder a positive premium known as scarcity rent. When demand for crude oil exceeds supply, oil price earns an economic rent due to its scarcity: in other words, it worth keeping oil underground waiting for increase in demand not covered by an increase in supply. The framework which is widely widespread regarding non-renewable resources is the Hotelling model: first introduces in 1931, the model questioned which is the amount of resources that should be extracted during a certain time frame in order to maximize the profit of the resource holder? Assuming no extraction costs, a risk free rate on investment equal to r and a certain price per barrel, according to Hotelling model, the optimum extraction quantity is the one that leads the price of oil to grow over time at a interest rate r. In other words, the resource holder has two opportunities: he can extract oil today or he can leave it underground waiting for a rose in price. Assuming that he decides to extract a certain amount today, he can invest the proceeds at a risk free rate r; otherwise, if oil price is expected to grow at a higher rate than r, the resource holder is not incentivized to extract oil. Thus, if all the resource holders behave the same way, it is highly probably that oil price will increase. Therefore, according to Hotelling models, the optimum extraction is the one in which oil price grows at the rate of interest. This model suggests and implies that oil price will increase over time: due to oils exhaustibility oil price must increase as fast as it is consumed. Even though Hotellings model is commonly used to predict the shape of oils trend, one of the most important Hotellings assumption is that the reserves of oil are fixed: as can be understood later on in the dissertation, oil reserves calculation is far from being detailed and exhaustive. Oil is extracted as well as found continuously: new reserves become continuously new available resources. Thus, an argument against the Hotelling approach is that it is not possible to evaluate scarcity rent and therefore it is not possible to use models such the Hotelling one which are based on this data. Demand and supply. As for any product, the main drivers influencing oil price are demand and supply. In the long term oil price is determined by the match of demand and supply; however, due to the peculiarities of oil, it is really difficult to predict future price: unknown future events, wars, natural events, OPEC decisions on cutting production and demand elasticity shape different demand-supply equilibriums. While price and income are demands main drivers, on the supply side it is necessary to take into consideration several factor such as reserves, oil depletion, technologies and oil cartel decisions. Oil Supply In January 2010, global oil supply accounts for 85,8 million barrels per day, out of which 51,6 has been produced by non-OPEC countries. There are different factors that are needed to take into consideration analyzing crude oil demand. Evaluating the supply is more complicated than evaluating the demand as there are different player involved, OPEC and non-OPEC countries and there is the central issue related to oil reserves level. First of all, exporting countries do not incur in any storages cost for crude oil as they can simply decide to leave oil underground while importing countries, in order to establish a minimum reserve level, need to built storage facilities. In regard to production countries, the most important and influential player is the Organization of the Petroleum Exporting Countries. While non-OPEC countries act competitively, OPEC is a cartel whose aim is to maximize revenues and profits. OPEC The Organization of the Petroleum Exporting Countries (OPEC) is a permanent, intergovernmental organization founded in Baghdad in 1960 and at that time it encompassed 5 countries: Iran, Iraq, Kuwait, Saudi Arabia and Venezuela. The founding members were later joined by nine other members: Qatar (1961- 2009); Indonesia (1962 2009); Socialist Peoples Libyan Arab Jamahiriya (1962); United Arab Emirates (1967); Algeria (1969); Nigeria (1971); Ecuador (1973); Angola (2007) and Gabon (1975-1994). Since 1965 OPEC headquarters is Vienna. It is interesting to highlight that the declared mission of the organization is to coordinate and unify the petroleum policies of member countries and ensure the stabilization of oil markets in order to secure an efficient, economic and regular supply of petroleum to consumers, a steady income to producers and a fair return on capital to those investing in the petroleum industry  [2]  . In order to understand the relevance of the OPEC countries over oil market, it is important to quantifies to what extend are worldwide oil reserves in OPEC territories: at the end of 2008, world proven crude oil reserves stood at 1,295,085 million barrels, of which 1,027,085 million barrels, or 79.3 per cent, was in OPEC member countries. In 2008 OPEC countries produced around 33 million barrels per day of crude oil, or 45.9 per cent of the world total output  [3]  . Besides owing the largest oil reserves, OPEC countries have the lowest production costs: roughly $4.00 per barrel for Saudi Arabia or $ 4.50 for Iran, as compared, for example, with $9.85 for the North Sea and $12.50 for Brazil.  [4]   Non-OPEC countries Non-OPEC countries are generally considered as price taker and even though in the last decade oil price has grown consistently and observers would expects a proportional increase in non-OPEC supply, the response of oil producers countries outside OPEC has been weak. There are several factors that are needed to taken into account in order to understand this behavior: first of all it is becoming more and more costly to develop oil reserves in this countries and the level of technologies needed to increase or at least maintain stable the production output is really high and expensive. Moreover, price volatility has increased uncertainty, changing the risk profile of non-OPEC countries: they are becoming more sensitive to oil price cycle. Investment are therefore asymmetrical: during tremendous increase in oil price, investment are modest, while during a decrease in crude oil price investment rate in exploration or new technologies decrease consistently leading sometimes to underinvestme nt periods. In order to analyze non-OPEC countries oil supply, it is possible to use a model introduce by Marion King Hubbert in 1956. According to Hubbert model, known also as the Hubbert peak theory, oil production tends to follow a bell-shaped curve which can be divided in three different phases: the first one, the pre-peak phase shows a exponential growth in oil production; around the peak, the production reaches the maximum production level and the production becomes stagnant; in the following phase, the last one, oil production starts a terminal decline due to resource depletion. The peak is reached when half of the oil reserves has been discovered and used: in order to draw the bell-shaped curve, it is necessary to calculate historical cumulative production, discovery rate of new oil deposit and the size of the URR, ultimately recoverable reserves. The main idea of the model is in fact that oil is a finite resources and therefore, when discovery rate is less than the oil consumption rate, oil production starts inexorably to decline with all the related consequences on oil price. The bell curve is drawn considering both the cumulative production and the remaining volume of oil that will be produced as a percentage of the total oil already produced in past. As a consequence it can be used in order to calculate and forecasts oil production and consequently price forecasts. According to Hubbert, North America reached the peak point in 1960, while in United Kingdom and Norway the maximum has been touched in 1999. The limits of this approach are related to the difficulties to calculate ultimately recoverable reserves: improvements in technologies and discoveries of new deposits or higher exploitation of existing deposits are pushing the oil peak to the right. Instead of being static, ultimately recoverable reserve is a dynamic measure: underestimation or overestimation of oil reserves as well as higher rate of technological improvements lead to mistakes in calculation of the year in which world will reach the peak oil. Oil reserves A proper forecast of existing oil reserve is a fundamental aspect of oil supply as it is central to Hubbert peak theory. First of all, it is necessary to define the different type of reserves available: Proved reserves are crude oil reserves that once calculated, provide at least with a rate of 90% of certainty at least the oil crude amount estimated. This depends on how accurate are the geological researches Unproven reserves are crude oil reserves similar to proved reserves but for several reasons such as political or contractual are certain for a rate lower of 90%. Therefore unproven reserves are divided into probable reserves which are reserves that are certain for at least 50 % of the amount estimated and possible reserves which are unproven reserves that are certain only for a 10% of the previous amount estimated Given the different definition of oil reserves, it is very important to highlight that there is not a convergence estimation of oil reserves: several studies calculated different reserves level according to different study methods and according to the extent of proved and unproved oil definition. Another distortion of oil reserve calculation is due to the fact that exporting countries are willing to overestimate their reserves because higher are the reserves, higher is the quantity that they can sell or export. Moreover, higher are the reserves declared, higher are the loan that these countries can raise. There is another issue related to the difference between conventional oil and unconventional oil. Unconventional oil refers to the oil extracted using other techniques than the common oil well method such as biofuels, oil shale, oil sands etc. In addition to these, there are reserves of oil that are yet to be discovered but given the current level of technologies are too difficult to be reached and explored. It is therefore clear that oil reserve calculation is really complicated: according to OPEC annual statistical bulletin 2008, world proven crude oil reserve are estimated to be 1,3 trillion barrels out of which 79, 3% are maintained under OPEC countries ground  [5]  . According to the Oil Gas Journal  [6]  , in January 2009, proved world oil reserves were estimated at 1,342 billion barrels-10 billion barrels (about 1 percent) higher than the estimation for 2008; 56 percent of the worlds proved oil reserves are in the Middle East while just under 80 percent of the worlds proved reserves are concentrated in eight countries out of which only Canada and Russia are not OPEC members. According to BP Statistical Review Of World Energy of June 2009 proven reserves accounts for 1258 billion barrels, AGGIUNGI Oil Demand In 2009 the worldwide oil demand fell by 1.4 percent in comparison to 2008 due to the financial crises that invested mainly OECD countries: this was the biggest drop since early 1980s. During the previous period, 2003-2007 growth rate in oil demand averaged 2,0% per year, 0,8% faster than during the preceding 5 years and 1,2 % faster than it average since 1980  [7]  . Around 90% of demand growth during this period came from non-OECD economies. Indeed, OECD demand has been falling year on year since the end of 2005. Daily crude oil demand in early 2010 has reached 86.5 million barrels as the last quarter of 2009 has been the first quarter of demand recovery after 5 consecutive quarters of decline. GO ON Oil market volatility and elasticity Price elasticity to crude oil demand The relationship between oil demand and price can be analyzed looking at elasticity of demand: elasticity measures the relationship between the change in quantity of oil demand for a given change in oil price. As the chart XX shows, both short term and long term price elasticity of demand are really is low ranging from 0 to -0.6. Furthermore it is clear that short term elasticity of oil demand is even smaller with a range from 0 to -0,1. This means that change in oil price have a very little impact on long term crude oil demand an even lighter effects on short term oil demand. The difference between short and long term demand responsiveness to change in oil price is due to bigger rate of substitution and energy conservation in the long term. What is really important to notice is that oil demand may respond asymmetrical to changes in oil price  [8]  ; in other words there is a substantional difference of demand elasticity for either an increase in price or a decrease in price. For an increase in oil crude price it is expect a reducing demand, but it is not necessarily true that a decreasing oil price would lead to an increase in demand of the same measure: for example an increase in oil price can be exploited in order to invest heavily on innovation and new equipments that would increase oil production leading to a positive impact on price. Last but not least, there is another important aspect concerning demand elasticity that has to be taken into account: the responsiveness of oil demand to a new peak price is different to the responsiveness of oil demand to a price recovering  [9]  . It is possible to describe two different elasticity scenarios at different price levels: elasticity of demand during increase in oil price that lead to new price records, elasticity of demand during increase in oil price following a low point in price history As expected, some studies argues that higher responsiveness of change in oil price can be seen when oil price is reaching new records, while there is a lower elasticity for other changes in price level. Thus, to summarize, elasticity of demand is not always linear, it may respond asymmetrically to changes in oil price and it can be different depending to historical price level. Income elasticity of price crude demand Income elasticity of crude oil demand measures the change in quantity of oil demanded for a given change in income. As the graph xx points out, income elasticity is more responsive in comparison to price elasticity: the long run elasticity ranges from 0,4 to 1,4. Moreover there is an important difference between income elasticity of emerging market and OECD. Emerging markets shows higher income volatility demonstrating how important is oil in their production processes. Spare capacity A very important component and determinant of oil market is oil spare capacity, the amount of excess production that oil producers can bring online quickly. The volume of spare capacity is fundamental as it can be a driver of oil price: spare capacity is in fact utilized to balance excess of oil demand and it can be used to counterbalance temporary oil shock. In other words, spare capacity is a tool that offers flexibility to the market: the higher the spare capacity, the higher is the ability to absorb oil price shock or respond to unexpected increase in demand. Thus in the short term, spare capacity can be exploited to offset increase in demand until oil supply is adjusted to meet demand. As the graph points out , there is an inverse correlation between oil price and spare capacity: high spare capacity level is associated to weak oil price, while when spare capacity is low oil price is expected to be high or increasingly. Spare capacity evolution over years have dropped from 10 million barrel per day of the late 90s to less than 2 million barrel per day or 2% of global oil demand in 2004. In particular, the increase in demand not covered by an increased in supply of non-OPEC countries has been met by OPEC using also spare capacity and therefore diminishing them. As expected, during the credit crunch that took place in late 2008, oil price fell dramatically while the spare capacity increased reaching 6% of global oil demand. According to the International Energy Agency, OPEC spare capacity excluding Iraq, Venezuela and Nigeria, accounts for 5,54 million b/d.. in addition to this, other 5,8 million b/d are estimated to be producible by OPEC countries within 3 months. To sum up, it is clear the role of spare capacity in oil market economy: a relevant inventory allows to maintain the flexibility required in order to play an active role once an oil shock is predicted or strong is conducting price to new records. The key issue is whether it is possible in the current scenario to maintain or even increase spare capacity and which is the player that should take this responsibility. Should oil companies create bigger inventories, even if it is uneconomical from a profits maximization point of view to hold higher reserves than needed, or should national oil companies keep bigger reserves? Oil demand projections According to the World Economic Outlook of the International Monetary Fund issues in April 2009, global oil demand is expected to grow by 0,6% or 540000 barrel per day per year on average between 2008 and 2014. World oil demand will therefore increase from 85,8 mb/d to 89mb/d while in a more conservative scenario it is expected that demand will remain stable around 85 mb/d depending on how fast and how strongly global recovery will take place. Given the recent historical pattern of oil demand it is highly probable that non OECD countries will drive oil demand growth within the next future; oil consumption in OECD countries will tighten. Asia, Middle East and Latin America will increase their oil demand by 2,6%, from 38,3 mb/d to 44,6 mb/d over 2008 to 2014 on average per year while at the same time, OECD consumptions will declined by 1,1 from 47,5 mb/d to 44,4 mb/d. As the graph points out, by 2013 non-OECD oil demand will be equal to OECD oil demand. The growth in oil demand of non-OECD reflects higher GDP growth expected as well as higher income elasticity to crude oil. In fact in several emerging market, oil price is administered: in Iran for example gasoline costs just à ¢Ã¢â‚¬Å¡Ã‚ ¬0,8 per liter while OECD countries are usually more responsive to oil price changes Macroeconomic Variables Exchange Rates The relationship between exchange rates and oil prices is complex and it is necessary to note that generally when there is a depreciation of the dollar, oil price expressed in dollar increases. Being dollar the most widespread currency for oil price, a lower exchange rate of the dollar to another currency leads to a minor foreign currency cost of oil causing a rise in oil demand. This increase in demand put upward pressure on the price of oil. Having said that, it is not possible to estimate a precise relationship between oil price and the value of dollar exchange rate: all it is possible to say is that oil price moves roughly proportionally to change in dollar value ceteris paribus. Thus a 10% increase in nominal exchange value of the dollar causes a 10% decrease in oil price expressed in dollar, ceteris paribus. As the graph XX shows, the dramatically decrease in exchange value of the dollar since 2002 and the strong increase of WTI crude oil price in different currencies, would su ggest the inverse relationship between oil price and dollar exchange rate is true even if it is not possible to evaluate to what extent. Looking at the relationship between oil price and exchange rate, another important factor that should be taken into account is the decision of leading oil exporters: if dollar depreciates against other currencies, oil exporters international purchasing power declines. In order to protect their interest, leading oil exporters tend to tight oil supply, leading to an increase in oil price. Another issue that should be taken into consideration looking at the exchange rate is that United States is a major oil producer and oil consumer; an increase in oil price has therefore a double effect: it leads to a deprecations of dollar against the currencies of exporting countries and an appreciation against the currencies oil importing countries. Even if this two divergent movements of exchange rate should be cancelled out each other, in the last years oil imports of oil in the Unites States has soared causing a major concerns in the American capability to respond to and increasing trade deficit influencing negatively the value of the dollar. Interest rates The relationship between oil price and interest rate is not univocal as it is impossible to identify a singular and unique effect of changes in interest rate on oil price. Generally the correlation between these two data is inverse as a decrease of interest rates would lead to increase in price. On the contrary, a decrease of interest rates in order to recover from a financial downturn would lead to a decrease in oil price which would suggest a positive correlation. An explanation of the reason why there is a negative correlation is that an expansionary policy causes a cost reduction of storing cost for commodities goods, driving up the oil price. On the other hand, a change of U.S. interest rate will have an impact on the pegged currencies to U.S. dollar or to the currency currencies which are traded against the American one: too expansionary policy in the U.S. may not be proper to foreign central banks influencing foreign economic growth and consequentially oil prices. Oil price speculation or massive change in oil fundamentals? One of the main issue related to oil price is whether increasing volatility and rise in prices during the last decade has reflected a massive change in oils fundamentals or if market speculators played an active role in massive price fluctuations. In particular it is necessary to understand if the oil price reached the high ever level in 2008 due to growing flow of money in oil derivatives or due to enormous change in underlying fundamentals, supply and demand. An increase from $28 per barrel in early 2002 to over $100 per barrel at the end of 2007, heading to the record $140 in 2008 and then falling below à ¢Ã¢â‚¬Å¡Ã‚ ¬40 by the end of 2008 is the result of the burst of an energy bubble or it the natural evolution of oil price during a worldwide financial crises? In other words, it needs to be investigated if the strong increase followed by the collapse in oil price is a cause or a result of the main worldwide financial crises. As analyzed in the first part of the dissertation, oils demand and supply during the period 2002 and 2008 changed significantly: emerging countries such as China and India drove oil demand while at the same time, oil suppliers reacted slowly and they tighten spare capacity. Those that support oil demand a

Essay --

Interferon alpha (IFN-ÃŽ ±) is a cytokine released during viral infection. (Rizza, Moretti, & Belardelli, 2010, p. 204) One of its major implications is its ability to enhance the innate and adaptive immune response which is why many patients develop flu like symptoms (Rizza et al., 2010, p. 205). Chronic myelogenous leukemia (CML) patients are given IFN-ÃŽ ± because of its ability to increase the functional activity of T cells, macrophages, and natural killer cells, promote apoptosis and suppress both angiogenesis and proliferation (Kiladjian, Mesa, & Hoffman, 2011, pp. 4707-4708). IFN-ÃŽ ± is short term because of the symptoms and complications that arise, which are harmful to the body causing patients to cease treatment. This is due to the immune response which can be beneficial in that it provides antitumour immunity but also harmful since it can mediate an autoimmune response (Rizza et al., 2010, p. 205). IFN-ÃŽ ± acts as a signal for the differentiation of monocytes into highly active specialized dendritic cells which take up and present antigens from apoptotic cells which can be caused by...

British Irish Relations over the past 300 years :: essays research papers

  Ã‚  Ã‚  Ã‚  Ã‚  British- Irish relations over the past three hundred years have been troubled. There have been many tensions caused by religion in Northern Ireland and Britain's unfair rule of Northern Ireland. The British are guilty of many of the indignities suffered by the Irish people. They are also guilty of causing all of the religious and territorial conflicts between Catholics and Protestants in Northern Ireland.   Ã‚  Ã‚  Ã‚  Ã‚  The division between Northern and Southern Ireland dates back to the 16th century. A succession of English monarchs had used the planting of Protestant English and Scottish people on lands seized from Irish Catholics as a way of increasing loyalty to the British Crown. This is an example of how the British treated the people of Ireland unfairly.   Ã‚  Ã‚  Ã‚  Ã‚  In 1912 British parliament gave home rule to Ireland. Home rule is when a country who is ruled by another country is giving the ability to govern its self. However some people in Irelands Northern counties did not want home rule. They wanted to remain governed by Britain. So the people in the Northern Counties (Antrim, Armagh, Down, Fermanagh, Londonderry and Tyrone) remained under British rule while the Southern Counties formed the Republic of Ireland. Shortly after the formation of Northern Ireland and the Republic of Ireland hostilities pushed these two countries to the brink of civil war. This was prevented by the start of World War I.   Ã‚  Ã‚  Ã‚  Ã‚  English persecution of the Irish people is one cause of the tensions in Northern Ireland. Before 1793 Irish Catholics were persecuted by British law. Catholics were not allowed to buy and sell land, get proper education, marry Protestants or vote. This fueled problems in Ireland. After 1793 Britain was afraid, after loosing America, that a revolution would happen in Ireland. So the restrictions on the Irish Catholics were done away with. This however angered the protestants who formed the Orange Order, who was against the Catholics. This all came to a head when in 1798 when a small rebellion broke out.   Ã‚  Ã‚  Ã‚  Ã‚  Ã¢â‚¬Å"It began with a blight of the potato crop that left acre upon acre of Irish farmland covered with black rot.†(The Irish Famine, 1) This of course is in reference to the Irish Famine. The Irish Famine was another cause of the tensions in Ireland. As crops across Ireland failed, the price of food soared. This made it impossible for Irish farmers to sell there goods, the good which the farmers relied upon to pay their rent to their English and Protestant landlords. British Irish Relations over the past 300 years :: essays research papers   Ã‚  Ã‚  Ã‚  Ã‚  British- Irish relations over the past three hundred years have been troubled. There have been many tensions caused by religion in Northern Ireland and Britain's unfair rule of Northern Ireland. The British are guilty of many of the indignities suffered by the Irish people. They are also guilty of causing all of the religious and territorial conflicts between Catholics and Protestants in Northern Ireland.   Ã‚  Ã‚  Ã‚  Ã‚  The division between Northern and Southern Ireland dates back to the 16th century. A succession of English monarchs had used the planting of Protestant English and Scottish people on lands seized from Irish Catholics as a way of increasing loyalty to the British Crown. This is an example of how the British treated the people of Ireland unfairly.   Ã‚  Ã‚  Ã‚  Ã‚  In 1912 British parliament gave home rule to Ireland. Home rule is when a country who is ruled by another country is giving the ability to govern its self. However some people in Irelands Northern counties did not want home rule. They wanted to remain governed by Britain. So the people in the Northern Counties (Antrim, Armagh, Down, Fermanagh, Londonderry and Tyrone) remained under British rule while the Southern Counties formed the Republic of Ireland. Shortly after the formation of Northern Ireland and the Republic of Ireland hostilities pushed these two countries to the brink of civil war. This was prevented by the start of World War I.   Ã‚  Ã‚  Ã‚  Ã‚  English persecution of the Irish people is one cause of the tensions in Northern Ireland. Before 1793 Irish Catholics were persecuted by British law. Catholics were not allowed to buy and sell land, get proper education, marry Protestants or vote. This fueled problems in Ireland. After 1793 Britain was afraid, after loosing America, that a revolution would happen in Ireland. So the restrictions on the Irish Catholics were done away with. This however angered the protestants who formed the Orange Order, who was against the Catholics. This all came to a head when in 1798 when a small rebellion broke out.   Ã‚  Ã‚  Ã‚  Ã‚  Ã¢â‚¬Å"It began with a blight of the potato crop that left acre upon acre of Irish farmland covered with black rot.†(The Irish Famine, 1) This of course is in reference to the Irish Famine. The Irish Famine was another cause of the tensions in Ireland. As crops across Ireland failed, the price of food soared. This made it impossible for Irish farmers to sell there goods, the good which the farmers relied upon to pay their rent to their English and Protestant landlords.

Metabolic Costs Of Generating Force :: essays research papers

ENERGETCS OF BIPEDAL RUNNING 1. METABOLIC COST OF GENERATING FORCE Summary Similarly sized bipeds and quadrupeds use nearly the same amount of metabolic energy to run, despite dramatic differences in morphology and running mechanics. It has been shown that the rate of metabolic energy use in quadrupedal runners and bipedal hoppers can be predicted from just body weight and time available to generate force as indicated by the foot ground contact. We tested whether this link between running mechanics and energetics also applied to running bipeds. We measured rates of energy consumption and times of foot contact for humans (mean body mass 78.88kg) and five species of bird mean body mass 0.13-40.1 kg). We find that most (70-90%) of the increase in metabolic rate with speed in running bipeds can be explained by changes in the time available to generate force. The rate of force generation also explains differences in metabolic rate over the size range of birds measured. However, for a given rate of force generation, birds use on average 1.7 times more metabolic energy than quadrupeds. The rate of energy consumption for a given rate of force generation for humans is intermediate between that of birds and quadrupeds. These results support the idea that the costs of muscular force production determines the energy cost of running and suggest that bipedal runners use more energy for a given rate of force production because they require a greater volume of muscle to support their body weight. Key words: locomotion, energetics, bipedal, bird, muscle force. Introduction The question of wither more energy is required to run on two or four legs was addressed 100 years ago when Zuntz (1897) performed some of the first measurements of metabolic energy consumption in running animals. He found that horses used less energy than humans to move a unit body weight a unit distance, and he speculated that there might be an energetic benefit to moving on four legs rather than two. However, subsequent measurements of oxygen consumption in running dogs showed that these quadrupeds use more energy per unit body mass to move a given distance than both humans and horses. Zuntz (1987) noticed that this energy cost of transport in horses, dogs and humans was proportional not to limb number but to body mass and concluded that, per unit body weight, small animals use more energy to run a given distance than do large animals, regardless of limb number (Zuntz, 1987).

Culture in Kuwait Essay

The State of Kuwait is a sovereign of the United Arab Emirates and considered as one of the Gulf countries. The name ‘Kuwait’ came from the Arabic â€Å"akwat†, the plural of â€Å"kout†, which denotes ‘fortress built near water’. The emirate has the population of 3. 4 million situated in its 20,000 square kilometers geographical area. During the 19th century, Kuwait came under the power of the Ottoman Empire and after the World War I, it became known as an autonomous sheikhdom under the defense of the British Empire. It was in the late 1930s that Kuwait’s large oil fields were discovered. Kuwait has a parliamentary system of government, under a constitutional monarchy with Kuwait City as the center of all political and economic activities. The country is the world’s fifth producer oil reserves and petroleum and petroleum products which account for its almost 95% export revenues, and 80% of government income. Based in per capita Kuwait is the eleventh richest country in the world. In addition, it has the highest human development index (HDI) in the Arab world. World Bank classified Kuwait as a high income economy. It is also designated as a major non-NATO ally of the United States, because of its close recent political and financial ties and affinities with the latter. Majority of the Kuwait’s population are Muslim and practices Islam as their religion, though it has a huge community of Christians, Hindus, Buddhists and Sikhs. Islam means peace, love, and complete submission and obedience to God. Being a Muslin means accepting Islam and living a life in accordance to its teachings as well as setting as an example to other Muslims. Instead of the common greetings of â€Å"good morning† or â€Å"hello†, Muslims greet each other by saying â€Å"Assalamo Alaikum†, which stands for â€Å"May peace be upon you and may God blessings be with you†. It is the mission of every Muslim uttering these words to multiply love and peace anywhere one goes. Muslims pray five (5) times a day and normally clean their bodies before praying. In the analysis using Hofstede’s five model dimensions, religion plays a significant role the lives of its people. High power distance and uncertainty avoidance are evident attributes in this nation just like any other Arab countries. Leaders do not mix themselves into the group and usually issue detailed and particular orders. It follows a caste system and does not allow major upward mobility of its people. In order to reduce the amount of ambiguity, detailed rules, laws, regulations and controls are implemented. Discrimination in terms of influence and affluence has been consented to flourish within the society and is acknowledged by the population as their cultural legacy. Therefore, leaders can easily enforce their leadership and control which usually resorts to uprising to attain democratic change. Masculinity is on the average, evidenced by limited rights of women in Kuwait society, which again could be credited to the Muslim religion rather than its cultural pattern. Individualism is low, which translates into collectivist culture as noticeable in a close-commitment to the member ‘group’ like the family, extended family, or extended relationships. Loyalty is vital in a collectivist society which overrides all other rules. In Kuwait, visitors are expected to be reserved, though does not pertain to clothing especially for foreigners. Regardless of the climate, most of the body must stay covered. For men, it is a requirement to wear a jacket and tie during business conferences. They should also be dressed in long pants and a shirt favorably long-sleeved and fastened up top the collar. There must be noticeable jewels specifically around the neck. Women must also be conservative especially in public. The necklines must be high, at least to the elbows, while hemlines must be ankle-low or below the knee. Pants are not advisable and scarf must be handy especially when going inside a Mosque. Too much appreciation of an item must be avoided, because the host might become compelled to grant said item. Rejection to accept the gift is impolite and rude. Receiving gifts must be done in public. Gifts such as alcohol, perfumes containing alcohol, pork, pigskin products, personal items such as underwear, knives, toy dogs or pictures of dog and image of nude or partially nude women should no be given to anyone in Kuwait. When going inside buildings it is proper to remove ones shoes. Muslims do not eat pork and drink alcohol. Grasping each other’s right hand putting the left on the other’s right shoulder and exchanging kisses on each cheek is the traditional greetings between men. Men may shake hands with women, but the latter must wait for the first to offer his hand. The left hand is regarded as dirty and must be set aside for personal hygiene.

Behavior Leadership Theory

What re eithery makes a good loss attraction? Psychologist and managers tried to perform this question. Chronologic eithery, the first answer to what makes a good drawing card was that leading be non made, they atomic number 18 natural (Fairholm, 1991). This was the first speculation of loss leading, the Great workforce speculation. Mevery other theories were divided by Fairholm and these atomic number 18 the following theories ground on who the drawing card is, wherein this group focuses on the draws distinction theories based on what the leader does, wherein the behavior guess perish to this group.It is focused on studying lead behavior so that it chamberpot be reproduced by followers and the theories based on the Environment of the leading. Leadership is a nasty topic to study because leaders is a fuzzy concept. For disco biscuits, social scientists and practitioners constitute been struggle to come up with the ultimate commentary of lead, to expla in its mechanisms, and to draw the line amongst leading and management. They need produced a look of definitions and theories.Long time ago, determinants of leadership has been set by behavioural theorists, so that people could be trained to be leaders. Since the lift out styles of leadership give notice be learned, training programs postulate been developed to change managers leadership behaviors. During the servicemankind War II, the leaders of the academy leave the islet of Traits and put down sale for the Isle of ports by the 1940s. They suspected that the X and Y conjecture of Leadership of Myers or Briggs, was most kind of fraud. The military wanted to hit the hay if leaders could be trained, and if so, what behaviors made them most effective.The Academy of Leader Professors wanting to pass water tenure, fame in time of world crisis, and end fixed that some(a) new opening of leadership must(prenominal) be be or tout ensemble told their jobs would be as extinct as dinosaurs. Working with the force and with universities, two biggest page2 bureaucracies in the world, it was mostly ab let out operational behavior, beingness lordly or democratic to increase the transaction rate or quality. The game of vitality in establishments was never to be transform and their quest was to find universal leader behavior styles that correlate with effectiveness and are optimal transactions in all situations.Squire Fleishman and Sir Katz set off for the Isle of mien in separate ships as they are desperate to establish a behavioral settlement, nevertheless found out that copyist Lewin had already established a behavioral settlement and an Iowa University since 1938. On the Isle of Behaviors, leader (transactional) behaviors became observable and their study turned limit and measurable. Different Universities wanted to make its mark and study what do leaders do by using some statistical methods, then the Ohio State and Michigan Universi ty fenced for the cultivation of the peasants.Fleishman became top executive of Ohio State and Katz was made King of Michigan University. Lewin was already King at Iowa. Each mustered their armies and prepared to battle for leader behavior territory. Sir Mintzberg, knighted by the Canadians, resettled in the Isle of Behavior and decided to go and look to see if leaders did any planning, organizing, directling, or leading. He actually ascertained and recorded the progress what transactions that leaders do. The world was shocked to discover, that leaders had a hectic, frantic, and fragmented transaction life, and did little of the behaviors fancy to take place.Some leaders were just now figureheads, but he did confirm Sir Mertons image, but noting all the images that leaders do. While the Isle of Behavior was oversupplied with two-factor studies of behavior and observations of roles here and everywhere, that great explored, Prince Yukl decided that process was more important th an some list of universal behaviors. And by 2001, Prince Page3 Howell and Knight Costley joined the essay for process. They still liked to isolate and measuring behaviors, but wanted to do this in the study of processes. They made great maps of the world of leadership, charting each territory.Leaders were reduced from traits or grandness to fairish psychoalgebraic behavioral equations, to styles or just transactions. But alas most of the Leader Behavior Academy had already set sail for the Isle of bunk. It seemed obvious that Traits and Behaviors to be effective depended upon the Situation. If there were universal behaviors, they are not optimal in all situations. Therefore a great trip set forth to the Isle of Situation in the 1960s, with new waves of migration each decade since. This is where the arts of transformation were rekindled. The behavior of Leadership has two main theories, transaction and transformation.This is what we prognosticate the X dimension of behavior le adership theory. It is the X dimension that focuses on the behavioural School of leadership. The X dimension runs from Transactional to transformational leadership, as studied by Burns (1978) and sea bass (1985). This is a classic dualism in leadership studies. Burns looked at modal persuasion (the means over ends reasoning) in the ahead of time stages of development and held that the leaders are transactional in their behaviors. Transactional leadership requires a shrewd centre of attention for opportunity, a good hand at bargaining, persuading, reciprocating (Burns, 1978169).A transformational leader, on the other hand, recognizes and exploits an existing regard or demand of a electromotive force follower and looks for effectiveness motives in followers, strains to touch higher needs, and engages the full someone of the follower. in the end transformational leaders were thought to engage in behaviors that Page4 changed the game, even changed the world. Douglas McGregor draw Theory X and Y in his book, The Human Side of Enterprise, that X and Y theory each represent several(predicate) ways in which leaders insure employees.Theory X managers believe that employees are motivate mainly by money, are lazy, uncooperative, and pack poor work habits. Theory Y managers believe that subordinates work hard, are cooperative, and have positive attitudes. Theory X is the tralatitious view of direction and control by managers. The average benevolent being has an entire dislike of work and will invalidate if he or she hindquarters. Because of this human characteristic of dislike of work, most people must be controlled, directed, and threatened with punishment to wash up them to put forth adequate fret toward the achievement of organisational objectives.The average human being prefers to be directed, wishes to avoid responsibility, has comparatively little ambition, wants security above all. This theory leads naturally to an emphasis on the simulated mi litary operation of control to procedures and techniques for telling people what to do, for ascertain whether they are doing it, and for administering rewards and punishment. Theory X explains the consequences of a particular managerial strategy. Because its assumptions are so unnecessarily limiting, it prevents managers from seeing the possibilities inherent in other managerial strategies.As long as the assumptions of Theory X influence managerial strategy, organizations will fail to discover, let altogether utilize, the likelyities of the average human being. Theory Y is the view that individual and organizational goals bottom of the inning be integrated. The expenditures of physical and mental drive in work are as natural as play or rest. Page5 External control and the threat of punishment are not the only means for bringing out effort toward organizational objectives. Commitment to objectives is a function of the rewards associated with their achievement.The average human being learns, under proper conditions, not only to accept but also to seek responsibility. The capacity to mould a comparatively high degree of imagination, ingenuity, and creativity in the solution of organizational problems in widely, not narrowly, distributed in the population. Under the condition of in advance(p) industrial life, the intellectual potentialities of the average human being are only part utilized. Theory Ys purpose is to encourage integration, to take a crap a situation in which an employee can achieve his or her own goals best by directing his or her efforts toward the objectives of the organization.It is a deliberate attempt to link rise in managerial competence with the mirth of higher- take ego and self-actualization needs. Theory Y leads to a preoccupation with the nature of descents, with the creation of an surroundings which will encourage commitment to organizational objectives and which will provide opportunities for the maximum exercise of initiat ive, ingenuity, and self-direction in achieving them. Note that with Theory Y assumptions, managements role is to develop the potential in employees and help them to release that potential towards common goals.Theory X is the view that conventional management has taken towards the workforce. Many organizations are now taking the enlightened view of theory Y. A boss can be viewed as taking the theory X approach, while a leader takes the theory Y approach. Notice that Maslow, Herzberg, and McGreagors theories all tie together Herzbergs theory is a micro version of Maslows theory (concentrated in the work place). McGreagors Theory X is based on workers Page6 caught in the lower levels (1 to 3) of Maslows theory, while his Theory Y is for workers who have gone above level 3.McGreagors Theory X is based on workers caught in Herbergs Hygiene Dissatisfiers, while Theory Y is based on workers who are in the Motivators or Satisfiers section. Whatever theory applied by any organization , the greatest chance of being triple-crown is when all of the employees work toward achieving its goals. Since leadership involves the exercise of influence by one person over others, the quality of leadership is a critical determinant of organizational success. Thus, leaders study leadership in prepare to influence the actions of his followers toward the achievement of the goals of the organization.Leadership studies can be classified as trait, behavioral, contingency, and transformational. early theories assumed that the primary source of leadership effectiveness lay in the individualised traits of the leaders themselves. Yet, traits alone cannot explain leadership effectiveness. Thus, later research focused on what the leader actually did when dealing with employees. These behavioral theories of leadership sought to explain the relationship between what the leader did and how the employees reacted, both emotionally and behaviorally. Yet, behavior cant always account for leadershi p in different situations.Thus, contingency theories of leadership studied leadership style in different environments. Transactional leaders, such as those identified in contingency theories, clarify role and task requirements for employees. Yet, contingency cant account for the passion and innovation that leaders need to compete in todays global marketplace. Newer transformational leadership studies have shown that leaders, who are charismatic and visionary, can tickle pink followers to transcend their own self-seeking for Page7 the good of the organization.