Systematic Approach of World Wide Web

Getting your course onto the World Wide Web (WWW) is best done using a systematic approach. There are a number of steps that need to be taken prior to starting any of the actual web work. Meetings should be held with various groups within your institution. Once the actual coursework is begun, there are some essential components and some optional components. There are specific skills and talents that you either need to acquire or you need to access. Each web-based course is unique, but they often have many components in common. Some are essential, others may be optional. Resources can be found on your campus, from the many web companies and from the web itself. World Wide Web, WWW, Distance Education, HTML, Web-Based Instruction The number of degree credit courses available on the World Wide Web (WWW) has increased at the same astonishing rate as other activities on the WWW. There are some specific steps that can be taken that will help to transport the professor from the idea stage to the delivery of a course over the WWW. Also, just like any other educational technology, web-based instruction works better for some situations than others. Web-based instruction is useful when you want to create a virtual environment which is not easily or, perhaps, safely accessible. An example is sending learners to a virtual nuclear lab or on a â€Å"virtual tour† of the Louver in Paris. Web-based instruction it allows learners to gain knowledge and skill more effectively than traditional methods. Simply transferring material such as lecture notes to the web is not using the technology to its best advantage. Lengthy text such as lecture notes are, in fact, best printed because most learners experience eye strain and sensory disinterest reading long passages of text on a screen. Some specific situations tend to lend themselves to web-based instruction. You want to encourage communication through conferencing. Through internet conferencing learners may participate in discussions or group work with one another with or without the participation of the instructor. Role plays, simulations of historical events and debates are also examples of how learning can be facilitated through the conferencing option. You want learners to use â€Å"source documents† to complete assignments such as conducting an analysis or designing a project. These source documents may not be readily available to learners or perhaps, based on the assignment, will not be equally significant to all the learners. For example, you may ask learners to research and analyze issues pertaining to Canadian elections. To complete the assignment, various learners may access archived information such as newspaper and journal articles which specifically relate to their particular interest or point of view. One example is a site operated by the University of Victoria (http://web.uvic.ca/history robinson/index.html) which contains letters, maps, biographies and newspaper articles about the murder of William Robinson committed on Saltspring Island in 1868. The information at the site allows learners and the public to pursue their research as they please and to access original documents which are not generally available. Individuals are free to interpret the meaning of the documents and reach their own conclusions. You want to provide maximum flexibility to allow learners to undertake learning and research in the order which best suits them. Because the web allows learners to â€Å"move around† at will, they do not need to follow a structured hierarchy. Generally learners need and want some direction but the web allows a more flexible approach. You want learners to pool data and/or analysis to find patterns and trends or to undertake further study. For a starting point and to keep us on track in this paper, I will discuss degree credit courses delivered by the University of New Brunswick. I will assume that for your case there is ready WWW web access for the professor as well as web access for students. Again, for consistency, I expect my students to have at least Netscape 3 (or its equivalent), their own internet service provider (ISP), and the skills necessary to access the WWW. These are my starting points – but most concepts discussed will transfer across institutional lines. There a number of things that you should do before you begin to do any coding, contracting or late night computer hacking. There are meetings to setup, there is paper work to be done and decisions to be made. Then, and only then, do you get to â€Å"play† with the computer. I would advise that you consider the following meetings as part of your endeavors. They will help you set the ground rules, help you avoid some of the mine-fields, and start you off on a working relationship with groups that can be either wonderful allies or formidable combatants, and hopefully help keep you on track as you work towards a finished product. 6.2.1 Your initial meeting with your own department I feel it is imperative for any relationship you and your delivering agency (Department of Extension, Continuing Education or â€Å"University of the World†) to start with a good relationship with your own department. In this meeting you may need to get the approval of the supervisors of your department to be able to deliver in something other than the traditional face to face, on campus mode. Those in authority may have to guarantee the academic support for some period after the first start of delivery of the course (at UNB, the period is three years). At the University of New Brunswick, instructors delivering courses through the Department of Extension are recommended by the faculties. This is something you might also wish to discuss with your own department at this time. It is often assumed that the person(s) developing a course will be the one(s) that wish to teach the course and the one(s) that the faculty will appoint to teach the course. This is not always the case. You should also discuss possible sources of help for the development of your course. There are times when stipend relief may be available from various sources. There may also be funds available from other agencies. 6.2.2 Your first meeting with your delivering agency Having gained the approval of your faculty, you should next meet with your delivering agency. In this meeting, you should discuss the ways that they can help you in the development of your course. They may also share with you what they know about possible funding sources. As Web-based learning is different from regular face-to-face lecture learning, they will want you to make use of good instructional design methodologies. This is often an area where they can help. Here are some items you may wish to discuss at that meeting: a. possible methods of web-based delivery for your course, b. method of payment to the instructor, c. ancillary support materials and their delivery to the students, d. how the materials, assignments, marks and communications flow between parties g. on-going checkpoint meetings with your delivering agency. At regularly scheduled intervals, you should meet with your delivering agency as they will wish to monitor the development of the course. Your delivering agency should be checking with you to: * keep abreast of your time lines. They need this to be able to best market your course and to see that it receives the coverage it deserves, * ensure the consistency of an Academia â€Å"look and feel† * ensure the consistency of any standards for web-based courseware development (for an example, please see http://www.unb.ca/home/webinfo/guide.html) * keep abreast of your needs and successes. These meetings are intended to insure the standards and formats consistent with the delivery of your institute's courses, and should in no way be an attempt to interfere with your teaching. There is an ongoing debate as to whether one should do all or some of the web work oneself, or if the work should be jobbed out. I enjoy working with the web, I have instructional design training and have been involved in courseware development for quite a few years and so, as long as I have more time than financial resources, I will do the work myself. There are many very good professional agencies that can be contracted to produce courseware for you. These agencies can be contracted to do a wide range of the jobs necessary to complete any type of web-based application. There are probably agencies within your institution who specialize in instructional design and courseware development. These units should be consulted. For certain areas of the development that you do yourself, you will need some specific skills. You will need to be very familiar with these or will need access to people who are and can do these aspects of the job for you. 7.1.1.1 HyperText Markup Language – HTML Stands for HyperText Markup Language, and on a scale of one to ten, learning the basics of HTML is about a three. The web is a great resource (see the Resource list below), and there are a plethora of good books on the subject. I keep the most current version of Teach Yourself Web Publishing with HTML in a Week by Laura Lemay near my computer. As with all aspects of the WWW, the print support is changing constantly, but the most recent edition is usually the best. Again, there a large number of excellent resources and my favorite is Jerry Kemp's The Instructional Design Process (New York: Harper & Row, 1985). It is however, out of print, and this is one case where I do think the next edition was not as good as the first. Another good choice is, Robert Branch's Common Instructional Design Practices Employed by Secondary School Teachers, Educational Technology, 34, (Englewood Cliffs, NJ: Educational Technology Publications, 1995). The more familiar you become with HTML, the more you will be able to enhance your course's web site. This can be a good thing, and it can also be not so good. Adding components and extra â€Å"bells and whistles† to your web site should be done as a conscious choice to support your educational objectives and not just because the â€Å"bells and whistles† are there. Stands for Common Gateway Interface and is the coding that allows the information collected from forms on webs sites to be manipulated. This can be as simple as allowing students to send specific assignments to you, or can be as elaborate as on-line registration. Every Web-delivered course will have a number of components. These will vary depending upon your needs, your style and the degree of interactivity in the course. There are some components that should be part of your site, in order to make the course appealing to your customer. I feel that some components of a web-based course are essential and others are optional. These can be divided into static and dynamic. These components change very little. They can be put on your web site and only updated as needed. This will often come directly from your University calendar. This can be as informal or as formal as you like. What kind of first impression do you wish to make? How much do you wish to add? Do you wish to link to your own personal Web site (if you have one)? Again, this can often come from your university calendar. It is always a good point to specify any particular computing hardware, software or skills that will be required for students to be able to take your course. Here is a nice place to put a scanned cover of the text – along with the ISBN, the publisher and all of the information needed for your potential students to acquire this text. Here is a good place to put a link to your institute's bookstore – assuming it has a web site. This is where you put as much information as you can about how students can reach you. Will you have office hours? Virtual office hours? Can they reach you via Email? How do they reach each other? Is there a listserv, a secure server? Students all seem to want to know what they have to do to get a mark. This is a good place to tell them about assignments, quizzes, mid-terms and finals, and any other expectations you have of them. These components may change often. They might be updated, or supplemented once a week or every few days. This gets used much more in the first part of the class. As the class gets â€Å"into it† this seems to be used less frequently. These can be placed on the web site before the class begins for all assignments, or can become readable at given times or as new assignments are given. These are the actual components of the web site that allow interactivity in the course. The real power of the WWW is global communication. And this is what makes web-based courses so exciting. Your course's communications may include any number of the following: These use standard Email to allow all members of the class to send and receive messages from any other member of the class, including the instructor. Messages are automatically sent to all of the individual's personal Email addresses. These are places where people can interact. Student-to-student, student-to-teacher and teacher-to-student or teacher to the entire class. These are sections on the web that students go to and are able to read messages and participate in on-line, asynchronous ‘conversations.' 7.2.1.2.6 Interactive ‘real time' two-way audio or video There are numerous pieces of software available now that allow desktop two-way video and audio. These tend to require very high bandwidth, and because they are ‘real-time' they require the participating parties to all be on the web at the same time. This is a place where your marking scheme can be listed. It is also a place where you can post marks or assignments in (if you have a secure server that only your class can access). As each week progresses, or just prior to each week's work, students may need to have the equivalent of lecture notes to supplement what is covered in the text book, or what has been assigned on the web. Some web software will allow you to put the all the notes on the web site – and as certain dates arrive, students then have access to the notes. These may be essential, depending upon your requirements. These may be as sound files (.WAV or .AU), audio streaming (Real Audio, Soundstream, Shockwave) or MIDI files. These may be as animated .GIFs, QuickTime, Shockwave or Java applications. 7.2.2.3 Quizzes, especially â€Å"self-correcting† quizzes These may be as part of a web educational software (WebCT) or can be developed by yourself or your institution. These may be as included as text pages or may be referenced to other sites. This is one area where copyright can really come into play. The cost of clearing copyright on a set of Harvard business case studies can be out of the question. These may be as QuickTime © video or may be done with the new Real Video that allows real-time video streaming. These will allow you to maintain and provide access to databases over the web. These may be as simple as step-by-step instructions for any topic with branching provided to additional sites. They can also be we intelligent tutorials with on-line interactive testing. An â€Å"open server† will allow anyone, anywhere on the web to access your information. A â€Å"secure server† will only allow persons with some type of authorization code to access your information. (This list does not constitute an endorsement on anyone's part. These resources are a jumping off points to help you get your course on the web.) Please do not overlook the many resources on your own campus. This site has links to courses, resources, helper sites that aid you in choosing which type and format of media to use, sites that check your HTML for errors or idiosyncrasies, and much more. http://www.unb.ca/web/wwwdev/resources.html 8.2 Conferences, on-line or face-to-face NAWeb '98 – The Virtual Campus (October 3-6, 1998). This international conference is in its fourth year. It is intended solely for those developing courseware for delivery on the WWW or for those delivering courseware over the WWW. http://www.unb.ca/web/wwwdev/naweb98/ 8.3 Books, listservs and associations Badrul Khan's Web-Based Instruction (Englewood Cliffs, NJ: Educational Technology Publications, 1997) is quite good. I host the WWWDEV listserv. This listserv hosts the NAWeb conferences, and has 1400 members from around the world – developing for delivery over the WWW or actually delivering courseware over the WWW. The DEOSNEWS listserv is involved in all aspects of distance education. You can join that one by sending this message DEOS-L is a service provided to the Distance Education community by The American Center for the Study of Distance Education, The Pennsylvania State University. Opinions expressed are those of DEOS-L subscribers, and do not constitute endorsement of any opinion, product, or service by ACSDE or Penn State. The Canadian Association for Distance Education (CADE) can often help The Association for Media and Technology in Education – Canada (AMTEC) is another favorite of mine. Use every and any resource you can. Join groups for support, and support others in similar projects. This is a rapidly emerging field, and it is evolving and growing just as fast as it is emerging. Here is where you add ideas you pick up at the conference. This site has links to courses, resources, helper sites that aid you in choosing which type and format of media to use, sites that check your HTML for errors or idiosyncrasies, and much more. http://www.unb.ca/web/wwwdev/resources.html 8.2 Conferences, on-line or face-to-face NAWeb '98 – The Virtual Campus (October 3-6, 1998). This international conference is in its fourth year. It is intended solely for those developing courseware for delivery on the WWW or for those delivering courseware over the WWW. http://www.unb.ca/web/wwwdev/naweb98/ 8.3 Books, listservs and associations Badrul Khan's Web-Based Instruction (Englewood Cliffs, NJ: Educational Technology Publications, 1997) is quite good. I host the WWWDEV listserv. This listserv hosts the NAWeb conferences, and has 1400 members from around the world – developing for delivery over the WWW or actually delivering courseware over the WWW. The DEOSNEWS listserv is involved in all aspects of distance education. You can join that one by sending this message DEOS-L is a service provided to the Distance Education community by The American Center for the Study of Distance Education, The Pennsylvania State University. Opinions expressed are those of DEOS-L subscribers, and do not constitute endorsement of any opinion, product, or service by ACSDE or Penn State. The Canadian Association for Distance Education (CADE) can often help The Association for Media and Technology in Education – Canada (AMTEC) is another favorite of mine. Use every and any resource you can. Join groups for support, and support others in similar projects. This is a rapidly emerging field, and it is evolving and growing just as fast as it is emerging. Here is where you add ideas you pick up at the conference.

Great Expectations The Novel By Charles Dickens English Literature Essay

Devils shows his composing ability as he develops a secret plan, filled with surprises and events, that contributes to the subject that worlds are all connected in humanity. In the gap scene, on Christmas Eve, Pip encounters an at large inmate at a cemetery. Pip describes him as â€Å" a fearful adult male, all in coarse Grey, with a great Fe on his leg † ( 2 ) . Magwitch, the inmate, had escaped from a prison ship. He threatens Pip and demands a file and some nutrient, and frightened Pip brings them to him the following twenty-four hours. â€Å" You get me a file. And you get me wittles † ( 3 ) . The inmate and another runaway are so arrested and sent back to the ship. Pip develops an human bond with the inmate and identifies with him because he was a condemnable for stealing and besides because he had fed him. Pip calls him as â€Å" my fleeting friend † ( 18 ) . At this phase in the novel, the secret plan of the fresh relies on Pip ‘s ability to keep thi s early event. Besides, a careful reader would detect that the secret plan ne'er indicated that the inmate had been taken out of the narrative. â€Å" The last I heard of him, I stopped in the mist to listen, and the file was still traveling † ( 18 ) . The beginning of the secret plan proves the development of the subject of human nexus. After the debut, when the narrative starts to develop, Pip ‘s uncle Pumblechook sends Pip to Miss Havisham ‘s place, the Satis House. Miss Havisham is a unusual and reserved adult female who lives with her adoptive girl, Estella. The Satis House looks the same as it did many old ages ago, when, on her nuptials twenty-four hours, Miss Havisham was abandoned at the communion table by her lover. â€Å" But, I saw that everything within my position which ought to be white, had been white long ago, and had lost it lustre, and was faded and xanthous. I saw that the bride within the espousal frock had withered like the frock, and like the flowers, and had no brightness left but the brightness of her deep-set eyes † ( 53 ) . As he spends more clip with these two characters, Pip starts to fall in love with Estella, who ridicules Pip for being a blacksmith ‘s male child. Then comes along Miss Havisham ‘s attorney, Mr. Jaggers, who tells Pip that an unknown indivi dual is paying for Pip to travel to London and unrecorded life as a gentleman. Pip assumes that the helper is Miss Havisham, and that she is seeking to do him worthy of Estella. â€Å" Henceforth, I was for London and illustriousness — non for Smith ‘s work in general and for you! I made my exulting manner to the old battery, and lying down at that place to see the inquiry whether Miss Havisham intended me for Estella † ( 138 ) . In this portion of the novel, â€Å" the characters in the novel acknowledge their human family with all the people irrespective of category or fortunes † ( Glancy ) . The secret plan is successful to demo us that regardless of societal category humanity has a connexion. While life in London as a gentleman, Pip tries to maintain distance from Joe and the other common mans. He does return to his place to go to his sister ‘s funeral, but otherwise avoids Joe. As the stoping of the 2nd phase comes nearer, Magwitch, the inmate who met Pip at the fens, returns to Pip ‘s life. With his return, the subject of interrelatedness reappears. Mr. Jaggers so reveals to Shoot that Magwitch is his existent helper. â€Å" I have been informed by a individual named Abel Magwitch that he is the helper so long unknown to me † ( 311 ) . At first Pip is frightened, particularly from the fact that Magwitch is a condemnable and might be caught. As Pip starts caring for Magwitch and supplying him with shelter and nutrient, Pip develops an unidentified relationship with him. Pip besides receives the information that Compeyson, Magwitch ‘s enemy and one time spouse in offense, was the 1 who left Miss Havisham at the communion table and that Molly, Mr. Jaggers ‘s retainer, and Magwitch are the parents of Estella. â€Å" And the adult male we have in concealing down the river is Estella ‘s male parent † ( 379 ) . The connexion is one time once more seen through the relationships that have been revealed, whether it is an hard-boiled felon, a weak retainer, a proud girl, or a unpatriotic lover. The program to acquire Magwitch out of England about gets ruined when Pip is about killed by Orlick. Fortunately, Pip is rescued by his friends. The program eventually tkes topographic point as Pip and Herbert row Magwitch to a ship when Compeyson attacks them in a constabulary boat. The two felons wrestle and Compeyson falls and drowns. Magwitch is badly injured and sentenced to decease. Unfortunately, he dies of his hurts. After passing some old ages in Egypt, Pip returns place to Joe and Biddy, happening them merrily married with a boy, besides named Pip. After, Pip visits the Satis House and wanders about. He so comes across a figure in the shadows, Estella. They begin a conversation, and Estella tells him that she would frequently believe of him. When it was clip to portion, they agreed to stay friends. Pip put his custodies in hers, and â€Å" saw no shadow of another farewell from her † ( 451 ) . Even though in the beginning Estella did non desire to be a portion of love, she subsequently realizes that Pip and her were meant to be linked by love. The secret plan is successful in supplying us with keys to understand the subject of human interconnection. Dickens exhaustively develops his characters in an reliable mode, frequently times utilizing all-around characters. â€Å" My male parent ‘s household name being Pirrip, and my Christian name Philip, my infant lingua could do of both names nil longer or more explicit that Pip. So I called myself Pip, and came to be called Pip † ( 1 ) . Philip Pirrip, the chief character, is an ordinary orphan populating with his sister and her hubby at the fens. Philip, besides known as Pip, easy relates to the readers because he comes from a hapless place. He has a low self-pride the ground being his opprobrious sister. His brother-in-law is a blacksmith and the supplier for income in the house. Pip ‘s actions make up the chief secret plan of the novel. In the beginning of the novel, Pip was an low male child who looked up to Joe, but when Miss Havisham and Estella entered his life, they changed him wholly. They teach him to be ashamed of his coarse and common life. â€Å" Why, he is a common labouring-boy! † ( 54 ) . When he moves to London, he wholly ignores his household back place, desiring to acquire out of his old deadening life and come in a sophisticated one. â€Å" Let me squeal precisely with what feelings I looked frontward to Joe ‘s coming. Not with pleasance, though I was bound to him by so many ties ; no ; with considerable perturbation, some chagrin, and a acute sense of incongruousness † ( 203 ) . He does non value his one time great influence Joe. Pip starts to alter but non for the better. After a long clip, Pip eventually starts experiencing compassion for person such as Magwitch. After turning Pip ‘s life upside down, Magwitch starts going closer to Pip, and Pip began recognizing the errors he had made. Pip gives him a topographic point to populate and even decides to assist him acquire out of England. â€Å" And you have, and are bound to hold, that tenderness for the life he has risked on your history, that you must salvage him, if possible, from throwing it off. Then you must acquire him out of England before you stir a finger to untangle yourself † ( 318 ) . In the terminal of the novel, Pip realizes his immatureness and begins populating a responsible and reasonable life. Dickens gives the narrative a assortment of characters, and one of the most dynamic characters he creates is Estella. Dickens besides characterizes Estella in a different mode to do her base out. Estella, Miss Havisham ‘s girl, is introduced as haughty and arrogant of her wealth. She serves as a unfavorable judgment against working category. Estella is cold, disbelieving, and manipulative. Although being so disrespectful, Pip still falls in love with Estella. Estella, though, could ne'er show her emotions since her female parent destroyed her ability to interact usually with the universe. She is taught to interrupt Pip ‘s bosom and to ne'er love him. â€Å" Well, you can interrupt his bosom † ( 54 ) . Through out the novel, Estella ‘s attitude towards Pip remains unchanged and her warnings to Pip non to care for her continue. Estella is used by her female parent to seek retaliation on work forces. â€Å" I saw in this that Estella was set to bring Miss Havis ham ‘s retaliation on work forces, and that she was non to be given to me until she had gratified it for a term † ( 282 ) . Later on, Estella decides to acquire married to Drummle, genuinely demoing that she was ne'er touched by Pip ‘s love. Estella is non seen until the last chapter when she meets Pip at the Satis House. He went to the Satis House merely for her interest because he still loved her. Pip had heard about her opprobrious married life and the decease of her hubby. When he met Estella though, he knew that she had changed and wanted to have his love in her life. Estella had learned to love. Finally, Dickens gives the narrative Miss Havisham, the most bizarre character of Dickens book. Her character is successful to pull the reader in. Miss Havisham, a affluent old adult female who lives in her sign of the zodiac, is the most unusual and incredible characters in the narrative. She serves to be a wicked enchantress of the narrative. Deeply affected by her sorrowful yesteryear of her fiancAA © go forthing her at the communion table on her nuptials twenty-four hours, Miss Havisham still wears her marrying gown, a head covering, one shoe, and her stockings. â€Å" I saw that the bride within the espousal frock had withered like the frock, and like the flowers, and had no brightness left but the brightness of her deep-set eyes † ( 53 ) . Pip describes her as a life cadaver whose ghostly presence scared many. Miss Havisham lives with her girl, who she seeks to protect from the sorrow and hurting she had one time suffered, the hurting of lost love. Miss Havisham ne'er taught her girl how to love. She alternatively used her girl to hold retaliation on work forces and interrupt their bosom. â€Å" Sending her out to pull and torture and do mischievousness, Miss Havisham sent her with the malicious confidence that she was beyond the range of all supporters, and that all who staked upon the dramatis personae were secured to lose † ( 282 ) . She uses her money as a arm of power and trains her girl to win where she had failed. Unfortunately, Miss Havisham suffers the effects. Estella is non merely unable to love work forces, but besides Miss Havisham. Miss Havisham realizes her large error when she sees Pip ‘s deep love for Estella. â€Å" The spectral figure of Miss Havisham, her manus still covering her bosom, seemed all resolved into a ghastly stare of commiseration and compunction † ( 339 ) . Since it is excessively late for her to work out the job, the lone thing she can make is take duty for her actions. She asks Pip for forgiveness and leaves some money for Herbert ‘s male parent. â€Å" She turned her face to me for the first clip, dropped on her articulatio genuss at my pess, with her folded weaponries raised to me in the mode in which, when her hapless bosom was immature and fresh and whole, they must frequently hold been raised to Heaven from her female parent ‘s side † ( 370 ) . She dies shortly, but after making what she could make to do other ‘s life bett er. Great Expectations is abundant in symbol. From the many, the two most of import symbols are the Satis House and the mists on the fens. The Satis House represents wealth and royalty. It represents the higher category of the category system In a treatment between Pip and Estella, Estella explains that the word Satis in Latin means adequate. â€Å" It meant, when it was given, that whoever had this house would desire nil else † ( 51 ) . The house besides symbolizes a prison. It ‘s dark and black, and contains many barricaded Windowss. â€Å" Miss Havisham ‘s house, which was of old brick and dismal, and had a great many Fe bars to it. Some of the Windowss had been walled up ; of those that remained, all the lower were rustily barred † ( 50 ) . The house non merely symbolizes wealth and prison, but besides Miss Havisham. â€Å" It was broad and I dare state had one time been fine-looking, but every discernable thing in it was covered with dust and cast, and dro pping to pieces † ( 77 ) . The house and it ‘s suites are symbolic of Miss Havisham because, merely like the house, Miss Havisham is drab on the outside and foul in the interior. Similarly, the mists on the fens symbolizes danger and uncertainness. The mist is seen foremost when Pip brings the inmate some nutrient and a file. â€Å" The mist was heavier yet when I got out upon the fens, so that alternatively of my running at everything, everything seemed to run at me † ( 14 ) . The mist is besides present when Pip watches the inmate run off, allowing the readers know that something is traveling to go on in the hereafter. â€Å" The last I heard of him, I stopped in the mist to listen, and the file was still traveling † ( 18 ) . Later in the narrative, when Pip is kidnapped and about murdered by Orlick, Pip once more encounters the mist. â€Å" In a few proceedingss she ( Moon ) had ascended out of that clear field, in among the piled mountains of cloud. There was a melancholic air current, and the fens were really blue † ( 392 ) . Last, the mist played it ‘s function when he was go forthing town to travel to London after having his luck. â€Å" And the mists had all solemnly risen now, and the universe lay spread before me † ( 149 ) . The reader might detect that this positive journey in his life has unsafe effects. After observing the inside informations in secret plan and subject, word picture, and symbols, the reader leaves Great Expectations with great regard for Charles Dickens as a author of fictional literature. Early in the novel, Pip develops outlooks to be worthy of Estella, but when those start to melt away, Pip ‘s outlook is to acquire Magwitch safely out of England. When that is unsuccessful, Pip goes to Joe and Biddy to inquire for forgiveness and receives what he wanted. In the terminal, though, Pip realizes that true love and company are beyond outlooks.

Judiciary of Indian Subcontinent Essay

The present legal and judicial system of Bangladesh owes its origin mainly to two hundred years British rule in the Indian Sub-Continent although some elements of it are remnants of Pre-British period tracing back to Hindu and Muslim administration. It passed through various stages and has been gradually developed as a continuous historical process. The process of evolution has been partly indigenous and partly foreign and the legal system of the present day emanates from a mixed system which has structure, legal principles and concepts modeled on both Indo-Mughal and English law. The Indian sub-continent has a known history of over five hundred years with Hindu and Muslim periods which preceeded the British period, and each of these early periods had a distinctive legal system of its own. The Hindu period extends for nearly 1500 years before and after the beginning of the Christian era. The ancient India was divided into several independent states and the king was the Supreme authority of each state. So far as the administration of justice was concerned, the king was considered to be the fountain of justice and was entrusted with the Supreme authority of administration of justice in his kingdom. The Muslim period starts with the invasion of the Muslim rulers in the Indian sub-continent in 1100 A.D. The Hindu Kingdoms began to disintegrate gradually with the invasion of Muslim rulers at the end of eleventh and at the beginning of twelfth century. When the Muslims conquered all the states, they brought with them the theory based o n the Holy Quran, their religious book. According to the Holy Quran, sovereignty lies in the hand of Almighty Allah and the king is His humble servant to carry out His will on the earth. The ruler was Almighty’s chosen agent and trustee. The modernization of ancient Indian legal and judicial system took place in the hand of the Britis h people who came here as being trading company under a series of Royal Charters. East India Company gradually established control and possession over Bombay, Madras and Calcutta which were later on known as Presidency Towns. Ultimately the Company participated in administration of justice in co-operation with the local authorities. The Charter of 1726 issued by King George-I, by way of granting Letters Patent to the Company, was the first gateway to introduce English legal and judicial system in India. Later on, Charter of 1753 was issued by King George-II with a view to remove the defects of the Charter of 1726. To improve the system, the secret committee of House of Commons intervened, and passed the Regulation Act, 1773 under which the King issued a separate Charter of 1774 establishing the Supreme Court of judicature at Calcutta. Subsequently, Supreme Courts were established in Madras in 1801 and in Bombay in 1824. In 1853, the first Law Commission was established in India and an all India legislature was created whose laws were to be binding on all Courts. East India Company was dissolved and the Government of India was taken over by the British Crown in 1858, following the event of mutiny in 1857. The Civil Procedure Code, Criminal Procedure Code, Penal Code, Evidence Act, etc. were enacted and with this common legal fabric, the British Parliament in 1861 enacted Indian High Courts Act which provided for the establishment of High Courts in three Presidency Towns (Calcutta, Bombay & Madras) replacing the Supreme Court. After the establishment of High Courts a regular hierarchy of Civil and Criminal Courts were established by Civil Courts Act, 1887 and Criminal Procedure Code, 1898 respectively. The present system of Civil and Criminal Court, in Indian sub-Continent has their legal basis by virtue of these Civil Courts Act, 1887 and Criminal Procedure Code, 1898 respectively. The British Parliament declared India & Pakistan as independent dominions on 15 August, 1947 by the Indian Independence Act, 1947. This Act also provide that until the new Constitutions were framed for independent India & Pakistan, the Government of these two countries were to run by the Government of India Act, 1935. Judicial structure mostly remained the same as it was before 1947. The Government of India Act.1935 changed the structure of the Government from unitary to that of federal type. Accordingly, in both India and Pakistan Federal Court was retained to function until new constitutions were framed. Pakistan constituent Assembly passed the privy council (Abolition of Jurisdiction) Act, 1950 which abolished the system of appeal to the Privy Council from the Federal Court of Pakistan. The Federal Court appeared as the highest Court in Pakistan till 1956, when the High courts in the provinces and the Supreme Court of Pakistan in the centre were established under the new Constitution. In Pakistan, the constitution of 1956 was abrogated in 1958 and another one was introduced in 1962, but the whole judicial structure remained all the same. After liberation in 1971, Bangladesh adopted its Constitution in 1972, which provides the structure and functioning of the Supreme Court comprising with the High Court Division and the Appellate Division. Needless to say that in Bangladesh the sub-ordinate judiciary both in Civil and Criminal side originated from Civil Court Act, 1887 and Criminal Procedure Code, 1898. Apart from this, in Bangladesh there are some other special laws providing for the basis of some special courts, such as labor court, Juvenile Court, Administrative tribunal etc.

Slavery in America Essay Example | Topics and Well Written Essays - 500 words

Slavery in America - Essay Example The strength of the agriculture was that it remained the core of the economy and wealth accumulation. In the 1850s, the main advantage of the South was its developing agriculture, which supported the rapid economic growth of the country. Owners of the cotton plantations were interested in cheap labor in order to extend their crop areas. African slaves were the only source of cheap labor supply meeting the needs of growing economy. Africans were strong and able to work long days in the plantations. Also, "Tobacco, cotton, and rice, which require many hands to tend, stimulated slavery" (Chronology on the History of Slavery and Racism, 1999). Another economic cause of slavery was decline in immigrants labor supply connected with changing economic situation and urbanization. Many European immigrants settled in the North or returned to Europe where the processes of urbanization and distribution of wealth were faster than in the South. The North economic development and new wave of industrialization was higher and more stable attracting white immigrants and poor from the South. Industrial development and new production modes required cheap labor supplied from Africa. Another economic factor was importance of trade between Europe and America which demanded rapid industrial and agricultural growth of the Southern and Northern states, and transatlantic slave trade which became the important source of power and wealth accumulation for European and American sl

TNT Scenario Essay Example | Topics and Well Written Essays - 1000 words

TNT Scenario - Essay Example Scenario planning is an important strategic tool for improving the effectiveness of strategy (Glesecke, 1998, p.43). It is not about scenario writing but is more related to strategic planning (Lindgre, and Bandhold, 2003 p.21). For example, TNT wants to obtain and maintain its strategic objectives in the European market. For this purpose, it decides that till the end of 2015, it will have to increase 5 per cent market share in the European market. To implement this change, more effective strategy is required in which the PEST (political, economic, social and technological) factors will be considered. Currently, the political environment looks stable and more business friendly than ever before. Subsequently, the cost inflation and cost of living are showing more stability because the entire European economy has recently recovered its debt crisis and the businesses and consumers are experiencing a rising confidence in the business activities. Moreover, the technological changes are tak ing place which can directly or indirectly put positive effect on the business activity. After this environmental scanning, TNT must increase its marketing and promotion cost along with providing and offering a range of incentives and discounts for attracting customers from untapped markets. In this regard, it is important to highlight that marketing cost should be increased by 30 per cent as this will increase more chances of attracting new customers. In this strategy, social media, print and electronic media should used. Technological advancement is the biggest threat for the company. TNT mainly relies on providing postal services across the world. However, recent changes in the technology in which paper-free sharing of information and more digital communication are being preferred. In this regard, TNT faces serious threat from the technological changes because new methods are being created which make the previous Technology can also be termed as an opportunity for the company. In this regard, it is important to highlight that the requirements and needs for business to business and business to customer have not changed much and still correspondence and communication is vital part of their business strategy. However, they have changed their communication method from postal to the digital aspect. If TNT decides to revamp its business strategy by investing in research and development especially in the field of information technology, then, there are chances that the company will be in a position to avail this opportunity.

Iraq Christian Immigration Assignment Example | Topics and Well Written Essays - 1250 words

Iraq Christian Immigration - Assignment Example It is important to denote that in the current century, the social media is an important method of expressing oneself, and it has the capability of reaching a wide range of people. On this basis, the government and other religious organizations need to use the social media in preaching the message of peace, and discouraging sectarian as well religious violence. One of the long term methods of solving the immigration issue in Iraq is through education. That is educating children in primary, secondary and university institutions on the need of maintaining religious tolerance. It is essential for the government to revise the laws that promote religious intolerance, For instance, the constitution of Iraq provides that the official religion of Iraq is Islam, and therefore no law shall contradict the provisions and laws of Islam. This constitution is therefore discriminative to other religions such as Christianity in Iraq. However, Kerr (635) disagrees on this notion, and explains that in as much as the constitution of Iraq provides for an Islamic state; it also allows freedom of practicing religious beliefs, conscious, as well as freedom of thought. However, due to violence in the Iraq provinces it has been difficult to protect this right of Iraq, and hence leading to immigration of Christians from Iraq, to other neighboring countries. It is therefore essential for the government to seek the assistance of the international community in restoring law and order in areas where there is violence.

Decision Making Process Essay Example | Topics and Well Written Essays - 500 words

Decision Making Process - Essay Example The decision making process is merely as good as the weakest link. To take always high quality decisions, there is a need to ‘divide and conquer’ or split the decision and work on it part by part at a time. Being a leader, make certain to focus on people what it takes to suitably frame decisions. In order to establish decision quality in the organization, one should have a hand in declaring or checking each important decision frame. Soon after, when people become more certain and assured, turn them free to do their own framing, and guide them as a coach. As for the organizational decision making one should follow the decision dialog process that is suitably precise and flexible for the types of decisions. One should be able to judge decisions even as they’re being made, mainly when there are significant doubts, by assessing the quality of the work done at each of the six Decision Points: frame, people, process, alternatives, values, and information. Making decisions in the face of doubt is what leaders and managers are supposed to do. There is a requirement to see how the decisions might link up, and how others might link them up and then put the frame in view of that. No one can know everything in advance. Recognizing, perceptive, talking about, and finally counting uncertainty are all element of good decision making. Assist people to find out and understand risk. Recognize the critical uncertainty, on which the decision actually depends. Make use the creative insight to reframe the decision, identify alternatives, and sharpen the ethics so that one can with poise select a path, even if one doesn’t know for sure the result. People have different risk profiles. The lenience for risk indicates how one processes each of the Six Decision Points: frame, people, process, alternatives, values, and information. Think about risk tolerance. As in the case of significant

Balanced Scorecard Essay Example | Topics and Well Written Essays - 250 words

Balanced Scorecard - Essay Example ard as a performance tool includes integrating all relevant facets into a comprehensively detailed report which apparently includes quality, shortens response time, manages on a longer-term perspective, reduces the number of times for new product launch, and emphasizes the value of teamwork. Likewise, there is also the acknowledged benefit of maximizing the potentials of organizational resources. The balanced scorecard concept and strategic performance measure is reported to be effectively implemented by initially establishing explicitly defined goals (quality, time, performance, service); as well as translating these goals into specifically designed measures or strategies of accomplishment. Finally, it was noted that the main responsibility and applicability of the balanced scorecard in the organization falls within the upper or senior levels of management; and performed by members of lower levels of

Personality disorders Essay Example | Topics and Well Written Essays - 500 words

Personality disorders - Essay Example Temperaments are part of a person’s personality, and the part that we really can’t shape, since they are with us from birth. Biologically, a temperament is with you regardless of whether you’re born a boy or a girl, and babies of both genders are born the same way, with this preset code. It has been said that baby boys are harder to raise than their female counterparts, but all babies start out needing the same things, and already have their temperament ‘installed’ so that is a misconception, if not an old wives’ tale. Socially, temperaments don’t change, either. When you are first born, you have not had the opportunity to learn anything yet, so how you act around other people is in your temperament, not a learned behavior. They say that your temperament remains virtually unchanged throughout your life, so if you start out a social butterfly you are more likely to remain so when you do have the opportunity to learn behaviors. I believe that your temperament affects the development of your personality since it is a building block of who you are. You already have a set of rules that you follow in social situations, though you are not always aware of it, especially when you are young.

Social Implications of the Computer Revolution Research Proposal

Social Implications of the Computer Revolution - Research Proposal Example Guglielmo studied in Italy in the lab of Augusto Righi. He also studied in Florence and at a later part in his life in Livorno. Guglielmo never did well as far as his studies were concerned. He was a member of the Anglican Church and he was Catholic who was baptized. Guglielmo was involved in a scandal called the Italian Navy Coherer Scandal; it is believed that he stole the work of Jagadish Chandra Bose an Indian who is very renowned for his contribution in the field of Science. This happened because Jagadish Chandra Bose’s work could not be accepted because of the British rule, the British Administration made sure that his work never got published and it is very strongly believed that Guglielmo stole the work of Jagdish and came to the limelight. Guglielmo had a keen interest in Science and especially in Electricity right from the early years. During the time of Guglielmo, the invention of the electromagnetic waves took place and this was invented by Heinrich Hertz. The deat h of Hertz threw more light upon his discoveries this further intrigued Guglielmo, Guglielmo got very motivated and decided to invent something unseen by the world. He conducted experiments by setting up his own devices and material required to carry out the experiment. His main goal was to use radio waves to create wireless telegraphy. This meant that the transmission of the wireless messages got across without using any wires. The Development of the Invention This was not a new subject Guglielmo was working on, research had been already done on this subject, and he just utilized whatever was researched about the subject. Guglielmo used many important parts in this experiment, parts like oscillator, spark-producing radio transmitters, a telegraph key were used in his experiments. Other researchers also used the spark- Gap transmitters but they could not get the transmission to cover a long range, the transmission usually covered a few hundred meters. The case was no different for G uglielmo; he also got limited transmission when he first attempted the experiment. But at a later stage he experimented outdoors, he increased the length of the transmitter and the radio antenna this resulted in a very big success. The transmission improved drastically and he was able to transmit signals with a range of roughly about 1.5 kilometers. He concluded that the required funding to invent a device which could take this forward. He believed that this experiment will be very useful if it becomes an invention to the military personnel’s as they would be able to transmit signals easily. When he was close to inventing what he dreamt of all his life, he realized that Italy was not the right place to be in. He moved to London along with his Mother at the age of 21 to pursue the invention. 1897 was the year when Guglielmo sent the first ever wireless communication and this was done over Sea. The approximate distance covered by the signal was about 6 kilometers; the message w hich he sent read â€Å"Are you ready†. This was a good enough invention to receive international attention; this work quickly caught the eye of the international people associated with the same field. â€Å"Marconi sailed to the United States at the invitation of the New York Herald newspaper to cover the America's Cup races off Sandy Hook, NJ.  

Brighton Rock - Sympathy Essay Example for Free

Brighton Rock Sympathy Essay â€Å"Greene does not encourage us to find much sympathy for any of the character† At the beginning of the novel, from the reader’s perspective Spicer gives the impression of being a young boy, in particular with his refusal to eat after they have murdered Hale. â€Å"I’ll be sickif I eat† The Boy then responds with â€Å"Spew then†, this suggests that Spicer has a weakness especially within the group. As well as this it implies that Spicer regrets or feels a large amount of emotion towards the act they have just committed unlike Pinkie who seems totally unfazed. However, as the book continues we learn that Spicer is an older man as we are told of his â€Å"spots† that appear as well as â€Å"upsetbowels†, his â€Å"carroty† hair and his â€Å"scarred† nose. The sympathy the reader felt before then changes to loathing, as these new descriptions create an unattractive image for the reader. As well as this his earlier weakness now comes across as spineless and almost pathetic. We also learn that Spicer used to be a Jew â€Å"but a hairdresser and surgeon had altered that†. This reiterates the point that Spicer is spineless as he can’t even stand by his religion unlike Pinkie who has very strong religious views. Green does not actively encourage us to find sympathy in Pinkie by referring to him as either Pinkie or The Boy neither are his real name which creates a barrier between him and the reader which means that the reader has a lesser connection with him from the beginning compared to characters like Ida. As well as this Pinkie comes across as emotionless and therefore inhuman, for example there is no indication that Pinkie feels any remorse for arranging Hale’s murder. In addition to this Pinkie’s eyes are described as â€Å"slatey† which gives the impression they are cold and emotionless, this makes the reader feel disconnected from Pinkie as he is so disconnected from human beings. Pinkie is also hard to understand as he does not behave as expected, for example he reacts negatively to anything with warmth like romance, sex and even music, this is shown when dancing with Rose at Shelley’s as the music and intimacy conjures violent thoughts as it is said that he â€Å"caresses the bottle of vittorol†. Therefore it is hard for the reader to connect at all with Pinkie let alone with sympathy. Although when Pinkie’s age is mentioned it conjures up some sympathy, as it reminds the reader that Pinkie is only a boy trying to compete in man’s world. This is shown metaphorically when Greene mentions Pinkie’s suit being â€Å"a little too big for him†. As the focus of the characters is male heavy there is little emotion conjured with the two female characters. There is little written solely about Rose but the reader, especially female readers while sympathise with Rose’s side of her relationship with Pinkie as it the typically case of falling in love with the wrong man. Ida on the other hand conjures little sympathy because she is not a weak, dependent character like Rose but is incredibly strong-willed and independent. Overall I agree with the statement as Greene creates little sympathy towards his characters as you therefore feel the correct emotion toward the characters and not fazed by a â€Å"sob story†.

Explain how the mechanicals bring humour into the play Essay Example for Free

Explain how the mechanicals bring humour into the play Essay The mechanicals in A Midsummer Nights Dream are the group of actors that bring most of the comedy to the play. This is done by the mechanicals resembling the more unintelligent group out of the four featured in A Midsummer Nights Dream. In the book, the mechanicals are called the Clowns. This implies that they are always fooling around; never getting any work done and maybe making people laugh. Maybe Shakespeare called them the Clowns because they convey most of the humour towards the audience in A Midsummer Nights Dream. However, the mechanicals play near the end of A Midsummer Nights Dream is a serious play; where they do not mess around as they do in the rest of the book. This might suggest that the name Shakespeare gave to the actors (Clowns) does not imply all that it is supposed to. From the start we establish that Bottom takes his role as a leader and we notice that others look up to him as if they are respecting his authority. One of the characters names (Bottom) sounds rude now, but back when the play was first performed the word bottom meant courageous. Nick Bottom comes across in A Midsummer Nights Dream as thunderous, friendly, and a little over-confident. He comes across to the other actors in the mechanicals as dumb or dull, insecure and irritating (e. g. when Bottom wants to play all the parts in the play And I may hide my face, let me play Thisbe too! Ill speak in a monstrous little voice). Bottom also says that he will play every part in their play flawlessly, and that he can act every single part. Instead, when Bottom is rehearsing his part in the play, he messes everything up (pronouncing words wrong Odious instead of odorous) and he forgets lines. In the end, he just plays Pyramus. The way the mechanicals bring humour into A Midsummer Nights Dream is mainly through Nick Bottom. Bottom is the fool in the play; always getting things wrong. Bottom comes across as a little dumb; maybe eccentric. He gets his words wrong, comes up with feeble ideas, and has a spell put on him by Puck. The spell transforms Bottoms head into an asss head. I think it would convey more humour to A Midsummer Nights Dream by having Bottom transform into an ass entirely. Near the end of A Midsummer Nights Dream, in act 5 scene 1, the mechanicals act out their play. Many things bring humour into A Midsummer Nights Dream at this point. Peter Quince tells the audience that the lion is not a lion, but Snug the joiner. The audience would know that the lion is not a real lion, as it is just common sense. When Snug is playing the part of the lion, Snug doesnt want to scare the audience so the actor roars as softly as he can. Snug also explains that he is not really a lion, but playing the part of a lion. This may mean that when the play was performed, being a lion was a disgrace, or an insult. The result of Snug explaining that he is not really a lion, but playing the part of, is that he will not be shamed after the play, or be booed by Theseus. After Snug is finished explaining the he is not a lion, he earns approval from Lysander, Theseus and Demetrius (the stage audience). Shakespeare uses language to create moods and atmosphere within the characters, and also make the characters think how they are feeling. The main mood created in of A Midsummer Nights Dream is that of humour. He creates these moods by the descriptive writing he uses in his sentences. His sentences are well structured, and he chooses the places well where he makes the characters speak in prose and verse. For instance, when the mechanicals are talking casually together, they speak in verse; when acting out their play in front of the duke, they speak in prose. Some of the misunderstandings of the mechanicals are when Puck puts the spell on Bottom. Quince says O monstrous! O strange! We are haunted! Pray, masters, fly, masters! Help! This shows that they are unsure of what to think of Bottom, and Bottom is oblivious to the fact that he has an asses head on him. Instead Bottom starts singing (to show that he id not afraid of what they are saying to him). This in turn wakes Titania up, who has had the love juice put on her eyes. As she wakes up, she instantly falls in love with Bottom. This is reminiscent of the fact that of A Midsummer Nights Dreams main mood it creates is that of humour and that it is mainly the mechanicals that are involved in, or create the humour.

The reasons that caused Lehman Brothers to collapse

The reasons that caused Lehman Brothers to collapse The bankruptcy of Lehman Brothers was a result of the investment banks exposure to the 2007-2010 financial crisis. In fact, the demise of the investment bank would come to symbolize the crisis. Therefore, in order to understand the Lehman Brothers bankruptcy, a consummate understanding of the 2007-2010 financial crisis is requisite. As such, an examination of crisis will serve as introductory. Several factors contributed to the fall of Lehman Brothers. Perhaps most important, however, was the period of deregulation that preceded the crisis. Arguably, the period of deregulation started during the Reagan Era. Reaganomics, the lassiez faireeconomic policies advocated by the former president, may have served as the starting point for the deregulatory climate that ensued for the following two decades. Either way, the following two decades witnessed an overriding belief in the virtues of deregulation. In 1999, President Clinton signed the Gramm-Leach-Bliley Financial Services Modernization Act into law. The act repealed portions of the Glass-Steagall Act (Banking Act of 1933). The Glass-Steagall Act prohibited universal banking. Universal banking is defined as a single institution acting as an investment bank, a commercial bank, and an insurance company(Investopedia). The repeal of Glass-Steagall allowed for harmful activity on the part of several financial intermediaries, including Lehman Brothers. For example, commercial banks played a crucial role as buyers and sellers of mortgage-backed securities, credit-default swaps and other explosive financial derivatives. Without the watering down and ultimate repeal of Glass-Steagall, the banks would have been barred from most of these activities (Demos 3). Several other factors contributed to the financial crisis, including:subprime lending, credit conditions, financial instruments, and an increase in home prices. Many subprime mortgages were predatory in nature. Often, the borrower had little chance of repayment. As mortgages were often bundled and sold, lenders were less concerned with a borrowers ability to repay the mortgage. In addition, over 80% of subprime mortgages were adjustable-rate mortgages (ARMs)(Lee).A combination of declining home prices and higher reset rates for ARMs caused delinquencies to increase dramatically. Subprime lending was fueled by low interest rates. After September 11, 2001, the Fed lowered rates. In periods of low interest rates, lending becomes more profitable. As such, banks were pressured to increase subprime lending. By 2006, subprime loans accounted for 20 percent of all mortgage loans (Kratz). The use of financial innovation to create complex financial instruments (derivatives) played a significant role in both subprime lending and the financial crisis. For example, banks sold mortgages, through the securitization process, to investors, in order to finance subprime lending. Asset-backed securities (ABSs) were a common securitization arrangement. A portfolio of income-producing assets (loans) is sold by the originating banks to a special purpose vehicle and the cash flows from the assets are then allocated to tranches (Hull 190). The securitized loan is then sold to investors as an ABS. The process is depicted below. ABS CDS In addition, another derivative, a credit default swap (CDS), was designed to provide insurance to protect against default. CDSs allowed investors to synthetically bet against the asset-backed securities. The process is akin to multiple people buying insurance on the same house (Demos). As such, when mortgages began to default, causing the value of ABSs to decline, the losses to insurance agencies were magnified. The combination of all three of the aforementioned factors caused a remarkable increase in home prices. Low interest rates encouraged borrowing. In addition, many subprime borrowers believed home prices would continue to appreciate in perpetuity. As such, subprime borrowers acquired ARMs. ARMs were a product of the financial innovation mentioned earlier. Between 1997 and 2006, the amalgamation of these factors resulted in a 124 percent increase in home prices (SP/Case-Shiller). Market Making In order to better understand the collapse of Lehman Brothers, it is necessary to examine the functions and practices of an investment bank. The sales and trading desks at investment banks had primarily acted as market makers. Market makers are a broker-dealer firms that  accept the risk of holding a  certain number of shares of a particular security in order to facilitate trading in that security (Investopedia). In other words, market makers provide liquidity to markets by quoting both bid and offer prices. In contrast,investment banks eventually began proprietary trading. Proprietary trading involves taking positions in assets, as opposed to profiting from the bid-offer spread (market making). Lehman Brothers, through proprietary trading, had large levered positions in both subprime mortgages and mortgage-backed securities. When the value of these assets began to decline, the firms equity was wiped out and the bank became insolvent. Proprietary Trading Collapse On September 15, 2008, Lehman Brothers filed for chapter 11 bankruptcy. This was the largest bankruptcy filing in U.S. history. The bank declared a debt of $613 billion, bond debt of $155 billion and $639 billion worth of assets. The demise of Lehman Brothers was caused by a combination of the rejection of bailout from the government, lack of a willing buyer, and the mortgage crisis. The reasons behind the government rejection of a Lehman Brothers bailout are hotly contested. Prior to Lehmans bankruptcy, the government had saved both American Insurance Group (AIG) and Bear Sterns from a similar fate. According to Treasury Secretary Henry Paulson and Federal Reserve Chairman Ben Bernanke, the government failed to bailout Lehman Brothers for two reasons. First, the government lacked legal authority to intervene. Second, Lehman had insufficient capital. The Federal Reserve could only make a loan, Bernanke explained, if collateral supported ità ¢Ã¢â€š ¬Ã‚ ¦Giving Lehman a loan then would be lending into a run, Bernanke feltà ¢Ã¢â€š ¬Ã‚ ¦ The assessment was that if there was a run, which there would be . . . all we would have accomplished would be to make counterparties whole and not succeed in preventing the collapse of the company (dailyfinance.com).Many theorize that the government didnt save Lehman Brothers in order to teach market participants a lesson. However , Bernanke refutes, I speak for myself, and I think I can speak for others, that at no time did we say, We could save Lehman, but we wont. Our concern was about the financial system, and we knew the implications for the greater financial system would be catastrophic, and it was (dailyfinance.com). Lehman Brothershad potential buyers in bothBank of America and Barclays Capital. However, without government assistance,both Bank of America and Barclays Capital walked. Lehman was forced into liquidation. September 16, 2008, the day following Lehman Brothers file for bankruptcy, Barclays signed a definitive agreement to acquire certain parts of Lehman as well as their New York headquarters building. The deal was revised days later for Barclays to acquire the core business of Lehman Brothers including their $960 million Midtown Manhattan office skyscraper and 10,000 employees for $1.35 billion. With few other options, Lehman had little choice but to acquiesce. On September 22, 2008, Nomura Holdings Inc. acquired Lehman Brothers franchise in the Asia Pacific region including multiple locations and 3,000 employees. The mortgage crisis played a significant role in the collapse of Lehman Brothers. Lehman was a major player in subprime lending. Lehman was a leader in both mortgage lending and loans securitization of mortgages. Subprime lending and securitization represented an increasing large portion of Lehmans revenues. As such, the firm was irrevocably linked to the mortgage market. When mortgage default rates began to rise, demand for MBSs decreased. Lehman was stuck with billions of dollars of toxic assets on its balance sheet. Lehman would eventually close its mortgage lending operations. The following year, due to holding on to large positions in subprime and other lower-rated mortgage tranches, Lehman faced significant losses. By 2007, Lehmans leverage ratio (measurement of risk) also increased tremendously to 31:1 putting them in a very vulnerable position because they were too thinly capitalized for the leverage used. This was allowed because they were not subject to the same regulations as depository banks. Deregulation allowed for Lehman to take those increasingly risky positions. Market Effects Lehman Brothers bankruptcy filing on September 15, 2008 caused the DJIA to drop over 500 points (-4.4%). September 15, 2008 marked the biggest one day drop since the markets reopened following September 11, 2001. The DJIA would eventually lose an additional 43% of its value, erasing more than US$ 1 T in market capitalization. World stock market indices suffered a similar fate. The FTSE All-World Index would eventually lose 2400 points (44% of its value). The prospect of Lehman liquidating $4.3 billion in mortgage securities sparked a selloff in the commercial mortgage-backed security (MBS) market. Several money and institutional funds had significant exposure to Lehman. BNY Mellons institutional cash fund and the primary reserve fund (an MMMF) both fell below $1 per share due to exposure to Lehman. The Net Asset Value (NAV) of MMMFs normally stays constant at $1 because investment products usually do not produce capital gains or losses (Investopedia). This event was referred to as the breaking of the buck. Overall systematic risk increased drastically as a result of the bankruptcy filing. Due to the increase in systemic risk, there was a US$ 737 B decline in collateral outstanding in the securities lending market. In addition, the TED Spread, the spread between U.S. treasury rates and LIBOR rates, increased almost 400 basis points. Essentially, the dramatic increase in the TED spread was due to overwhelming uncertainty. LIBOR rates incorporate a small amount of credit risk; U.S. Treasury rates are seen as virtually risk-free. The uncertainty caused the rate differential between a small amount of credit risk and risk-free to widen. After the Lehman Brothers bankruptcy filing, in order to address the escalating crisis, the government created the Troubles Assets Relief Program (TARP). TARP was designed to purchase both assets and equity from financial intermediaries (FIs). The purpose of its design was threefold. First, by purchasing assets, the government hoped to remove toxic assets from the banks balance sheets. Second, by increasing equity positions, TARP recapitalized the troubled banks. Third, TARP was also implemented to encourage inter-bank lending. Opinion The bankruptcy of Lehman Brothers was preventable. The preventability of the Lehman Brothers bankruptcy is primarily due to three factors. First, corporate culture is dictated by upper-level management (this is especially true in top-down hierarchical organizations). At Lehman Brothers, CEO Richard Fuld created a culture of risk taking. A corporate culture that reflected conservatism could have prevented the banks demise. Second, as a corollary, tougher risk management policies could have prevented risk taking behavior. For example, by historical measures, Lehman had a tremendous used a tremendous amount of leverage. As mentioned, a 3 percent decline in asset prices would wipe out the firms equity. A leverage cap could have been used to prevent the overuse of leverage. Third, the weak economic climate was disastrous for Lehman. Lehman had large positions in the mortgage market. When the market began to decline, those positions went against the investment bank. To prevent the three factors, the firm should have hired a CEO that advocated a less risky business strategy. In addition, reduce employees compensation based on profit generation. The firm could have also employed a more market neutral trading strategy. In doing so, Lehman would have avoided insolvency. As mentioned, several ways exist to prevent the failure of the investment bank. However,all the above approaches Lehman CEO Richard Fuld are tailored to Lehman Brothers unique situation. They may or may not, however, be industry-wide or socially beneficial.To prevent another financial crisis and, therefore, the failure of financial institutions, we must align the self-interests of those institutions with societal interests. The following are recommendations for aligning the above interests: à ¢- Long-term Incentive Structure à ¢- Fiduciary Responsibility à ¢- Promote Financial Education à ¢- Prevent the Manipulation of Social Interests We need to develop a long-term incentive structure to prevent executives trying to capture profit upfront at expense of the company and/or societys long-term interests. We could design a longer-term incentive structure that employees will be compensated for their performance over longer periods of times other than the currently yearly compensation. Also we could design compensation program make the compensations based on certain activities callable in the future, if the loss of the company is deemed directly related to the those activities that the compensations are based on. Fiduciary responsibility should be mandatory and financial institutions should be held legally accountable. We need to require full disclosure of conflict of interest, not only in the event that two parties have a direct interest conflict, but also full disclosure when companies providing a financial service have different opinions than the clients current position. In addition, we should expand the concept of full disclosure. We propose making academic researchers disclose the benefit they are getting from financial institutions, including board positions and monetary compensation. Promote education of the general public. Specifically, implement finance classes in public high schools, ensuring all students are aware of market basics. In addition, make firms provide optional education on specific products to clients. Lastly, we must reduce or eliminate attempts to make social interests subservient to self-interests. This concept could apply to all industries. We could limit the funding of lobbyists a firm could hire, and highly restrict the political donations from large firms.We must also eliminate the links between government regulators and market participants, eliminating the conflict of interest between corporations and society. In general, the aforementioned actions are attempts to align self-interest with the social interest. Self-interest, the invisible hand in the successful free market system, must be made to serve the interest of the society. Conclusion This report has examined the following: the Lehman Brothers bankruptcy, the bankruptcys causes, the culpable parties, market effects of the bankruptcy, and risk management errors relating to the bankruptcy. In addition, the opinion section of the paper answers the question, Was the bankruptcy preventable? In summary, on September 15, 2008, the Lehman Brothers filed for bankruptcy. It was the largest bankruptcy filing in U.S. history. Several causes forced Lehman into bankruptcy. Of primary importance, however, was the investment banks exposure to the subprime mortgage market. Deregulation and risk management errors allowed Lehman to increase that exposure. Lehmans CEO Richard Fuld, Treasury Secretary Henry Paulson, and Fed Chairman Ben Bernanke are each culpable. Mr. Fuld is responsible because he created a culture of risk taking and pay based on short-term performance. Henry Paulson and Mr. Bernanke could have saved the bank and chose to do otherwise. We believe this event was entirely preventable. As mentioned, the banks exposure to the subprime mortgage market was, ultimately, its downfall. If more stringent risk management policies had been in place and Lehmans corporate culture had been more conservative, the banks exposure to the crisis would have been reduced. Reduced exposure would have undoubtedly increased Lehmans chances for survival. A singular theme continuously appeared while we conducted our research and, consequently, appeared throughout this report. That theme is greed. Greed is defined as excessive or rapacious desire, especially for wealth or possessions. Unquestionably, human greed contributed to the 2007-2010 financial crisis. Both financial intermediaries and individuals erred. For example, AIG reported record profits in 2007. Unfortunately, the insurer earned those profits by taking on enormous amounts of Off-Balance-Sheet risk. These OBS liabilities (contingent liabilities) resulted in an $85 B government bailout of the firm. Individuals speculated on home prices by refinancing mortgages. Often times, these loans were secured by home equity. When home prices declined, the mortgages went underwater.Mortgage defaults soared. In both cases, greed blinded the market participants. Lehman Brothers wasnt impervious to the rapacious desire either. Leverage is the use of either borrowed money and/or derivatives to multiply gains and losses. The multiplication of gains and losses (greater volatility) implies an increase in risk. Recklessly increasing risk demonstrates an excessive desire for wealth.Therefore, leverage metrics (ratios) can be used tomeasure greed. Prior to the crisis, Lehmans leverage ratios soared. Viewing a single financial product, event, action, or asset bubble as the sole cause of the crisis is overly simplistic. Greed served as a catalyst for each. By ignoring this fact, we are doomed to repeat our mistakes.

Sir Isaac Newton vs Gottfried Wilhelm Leibniz :: Sir Isaac Newton Essays

Sir Isaac Newton and Gottfried Wilhelm Leibniz are two of the most supreme intellects of the 17th century. They are both considered to be the inventors of Calculus. However, after a terrible dispute, Sir Isaac Newton took most of the credit. Gottfried Wilhelm Leibniz (1646-1716) was a German philosopher, mathematician, and statesman born in the country of Leipzig. He received his education at the universities of Leipzig, Jena, and Altdorf. He received a doctorate in law. He devoted much of his time to the principle studies of mathematics, science, and philosophy. Leibniz's contribution in mathematics was in the year 1675, when he discovered the fundamental principles of infinitesimal calculus. He arrived at this discovery independently at the same time along with the English scientist Sir Isaac Newton in 1666. However, Leibniz's system was published in 1684, three years before Newton published his. Also at this time Leibniz's method of notation, known as mathematical symbols, were adopted universally. He also contributed in 1672 by inventing a calculating machine that was capable of multiplying, dividing, and extracting square roots. All this made him to be considered a pioneer in the developement of mathematical logic. Sir Isaac Newton is the other major figure in the development of Calculus. He was an English mathemetician and physcist, whose considered to be one of the greatest scientists in history. Newton was born on December 25, 1642 at Woolsthorpe, near Grantham in Lincolnshire. He attended Trinity College, at the University of Cambridge. He received his bachelor's degree in 1665 and received his master's degree in 1668. However, there he ignored much of the universities established curriculum to pursue his own interests: mathematics and natural philosophy. Almost immediately, he made fundamental discoveries in both areas. Newtons dicoveries was made up of several different things. It consisted of combined infinite sums which are known as infinite series. It also consisted of the binomial theorem for frational exponents and the algebraic expression of the inverse relation between tangents and areas into methods that we refer to today as calculus. However, the story is not that simple. Being that both men were so-called universal geniuses, they realized that in different ways they were entitled to have the credit for â€Å"inventing calculus†. Both engaged in a violent dispute over priority in the invention of calculus. Unfortunately, Newton had the upper hand, considering that he was the president of the Royal Society. He used this position to to select a committee that would investigate the unsolved question. Apparently, Newton included himself on this committee (illegally) and submitted a false report that charged Leibniz with deliberate plagiarism. He was also the one who compiled the book of evidence that the â€Å"society† was Sir Isaac Newton vs Gottfried Wilhelm Leibniz :: Sir Isaac Newton Essays Sir Isaac Newton and Gottfried Wilhelm Leibniz are two of the most supreme intellects of the 17th century. They are both considered to be the inventors of Calculus. However, after a terrible dispute, Sir Isaac Newton took most of the credit. Gottfried Wilhelm Leibniz (1646-1716) was a German philosopher, mathematician, and statesman born in the country of Leipzig. He received his education at the universities of Leipzig, Jena, and Altdorf. He received a doctorate in law. He devoted much of his time to the principle studies of mathematics, science, and philosophy. Leibniz's contribution in mathematics was in the year 1675, when he discovered the fundamental principles of infinitesimal calculus. He arrived at this discovery independently at the same time along with the English scientist Sir Isaac Newton in 1666. However, Leibniz's system was published in 1684, three years before Newton published his. Also at this time Leibniz's method of notation, known as mathematical symbols, were adopted universally. He also contributed in 1672 by inventing a calculating machine that was capable of multiplying, dividing, and extracting square roots. All this made him to be considered a pioneer in the developement of mathematical logic. Sir Isaac Newton is the other major figure in the development of Calculus. He was an English mathemetician and physcist, whose considered to be one of the greatest scientists in history. Newton was born on December 25, 1642 at Woolsthorpe, near Grantham in Lincolnshire. He attended Trinity College, at the University of Cambridge. He received his bachelor's degree in 1665 and received his master's degree in 1668. However, there he ignored much of the universities established curriculum to pursue his own interests: mathematics and natural philosophy. Almost immediately, he made fundamental discoveries in both areas. Newtons dicoveries was made up of several different things. It consisted of combined infinite sums which are known as infinite series. It also consisted of the binomial theorem for frational exponents and the algebraic expression of the inverse relation between tangents and areas into methods that we refer to today as calculus. However, the story is not that simple. Being that both men were so-called universal geniuses, they realized that in different ways they were entitled to have the credit for â€Å"inventing calculus†. Both engaged in a violent dispute over priority in the invention of calculus. Unfortunately, Newton had the upper hand, considering that he was the president of the Royal Society. He used this position to to select a committee that would investigate the unsolved question. Apparently, Newton included himself on this committee (illegally) and submitted a false report that charged Leibniz with deliberate plagiarism. He was also the one who compiled the book of evidence that the â€Å"society† was

Effects of Different levels of T.V Violence on Aggression Essay

Abstract EFFECTS OF DIFFERENT LEVELS OF T.V VIOLENCE ON AGGRESSION: The purpose of this study is to investigate the effects of different levels of television violence on grade school children. Since some studies show that younger children are more prone to aggression than older children. This study is designed to show how violence plays a role in aggression. The intention is to show that violence causes different aggression levels between males and females. The second purpose of this study is to show if there are any significant differences between males and females and aggression induced by violence. The information on gender difference and aggression is controversial. All the children were mixed in this experiment combined the male and females children in mixed groups. Each group randomly received 10 males and 10 females. One of the groups was the control group which viewed the non-violent video and the second group was the experimental group, which viewed a violent video. Girls and boys who had about the same level of aggression were chosen for th e experiment. Two televisions shows that contained different levels of violence were used in this study. Two volunteer teachers were present while the children viewed the videos. Measurement of aggression will be gathered from each student using a picture aggression test. Aggression levels were rated on a scale of 1 though 11, 11 being the highest level of aggression. The statistical results from group A, the boys who viewed Power Rangers, showed the mean of their level of aggression was 8.4. The variance, the precise measure of variability, of this group (1.64) was a significant difference. Group B for girls, who viewed Sesame Street, their mean was 1.6 and their variance was 0.16, also another significant difference. When comparing the numbers between the boys and girls in group A, the boys did appear to have a higher aggression level, than the girls in the same group, when they viewed the Power Ranger. In group B, the aggression level was higher for the girls than for boys in the same group, when they viewed Sesame Street. EFFECTS OF DIFFERENT LEVELS OF T.V VIOLENCE ON AGGRESSION: POTENTIAL GENDER DIFFERENCES Violence in the United States has risen to alarmingly high levels. Whether one considers assassination, group violence, or individual acts of violence, the decade of ... ...of Experimental Social Psychology, 38, 283-290. Berkowitz, L. (1993). Aggression: its causes, consequences, and control. Philadelphia: Temple University Press Boyatzis, C.J., & Maitllo, G.M. (1995). Effects of â€Å"The Mighty Morphine Power Rangers† on children’s aggression with peers. Child Study Journal, 25 (1). Retrieved 24 February 2005 from http://web12.epnet.com/ciatation.html. Fox, R. (1977) "The Inherent Rules of Violence," in Social Rules and Social Behavior, ed. P. Collette. Oxford: Basil Blackwell. Molitor, F., Hirsch, K.W. (1994). Children’s toleration of real-life aggression after exposure to Media violence: A replication of the Drabman and Thomas studies. Child Study Journal, 24 (3). Ridley-Johnson, R., Surdy, T., & O’Laughlin, E. (1991). Parent Survey on television violence viewing: Fear, aggression, and sex differences. Journal of Applied Development Psychology, 12, 63-71 Scott, J. (1975). Aggression 2d ed., rev. and expanded. Chicago: University of Chicago Press. Surbeck, E. & Endsley, R.C (1979). Children’s emotional reactions to TV violence: Effects of film character, reassurance, age and sex. The Journal of Social Psychology, 109 (2), 269-28.

Preparing for and Having a Baby :: Pregnancy Childbearing Essays

Preparing for and Having a Baby There are many different areas to consider when preparing for and having a newborn. Whether the pregnancy was planned or unplanned or the couple is married or not, a newborn baby brings new responsibilities. Having a baby also forces people to make adjustments both financially and within the family. Parents also express concerns and expectations when having a newborn comma especially when it is their first; including what roles each parent and family member should play, how much confidence they have in their parenting skills, and how much financial strain would be placed on the family once the newborn has arrived. The newest issue in today’s society is the fact that many women are delaying childbirth and having more children in their later years of life. This paper will examine three of the areas associated with planning a newborn child, including single parenting, concerns and expectations parents have when planning for and having a child, and financial issues that mothers face when planning a pregnancy. (Specify if you are talking about single moms or parents/couples, if talking about all of them you might want to consider narrowing your research.) (Introduce this quote, where did you find it, how did you find the site, remember that this is a narrative, you are walking me through the steps of your research. ) â€Å"Today, about one in every three U.S. births occurs outside of marriage. The proportion of births to unmarried women has risen monotonically over time, and attitudes toward non - marital fertility have become progressively more tolerant† (Musick, 2002, p. 915). Sometimes these births are planned and at other times they are not. â€Å"Dramatic increases in cohabitation and associated delays in marriage have changed the composition and character of non-marital births. Unmarried mothers now tend to be older, to have other children, and to be living with a partner at the time of their child’s birth† (Musick, 2002, p. 915). What significance does this have to your research? What does it prove? Why did you include it? The article that I researched regarding this area explores the reasons why women may be taking the steps to start a family without marriage, whether these pregnancies are planned or unplanned. The study was conducted using a couple of different methods including the National Survey of Family Growth and a Discrete-Time Hazard Model. â€Å"The National Survey of Family Growth is a periodic, nationally representative fertility survey conducted by the National Center for Health Statistics.

Mixed Member Proportional Government for Canada

Canada's government system was drafted at the Quebec conference by the so-called â€Å"Fathers of Confederation.† In this system, the Queen of Great Britain has the formal executive power. This in effect made the Canadian government system loosely based on the system being used by the United Kingdom (One Stop Canada, n.d.). Up to now, the Queen is still the head of the state, but just like any other parliamentary democracy, her powers are extremely limited. It is still the Parliament that drafts and approves the country's laws, and then the Queen would give the final approval, so to speak, known as the â€Å"Royal Assent.† Whenever the Queen is not in Canada, the Governor General acts as her representative and performs all her ceremonial and administrative duties. The Governor General is always chosen by the Queen by virtue of the Prime Minister's recommendation. The Governor General normally stays in office for 5 years (One Stop Canada, n.d.). The seat of power lies in the House of Parliament, but specifically, in the House of Commons. It is them who make laws for â€Å"make laws for the peace, order and good government of Canada†, and this includes defence, international policies, criminal law, immigration, border control and customs. They are being elected every 5 years. The present system in the Canada is the single member representation, commonly known also as first past the post or plurality system, wherein the whole country is divided into constituencies (total of 308) and during elections, whoever gets the most number of votes in any particular constituency represents the constituency, and take a single seat in the Parliament (One Stop Canada, n.d.). This system is now being challenged by many because of the presumed â€Å"lack of real representation† of this system. Challenges on the current system and call for a change Statistics from last year's election show that in British Columbia, the Liberal Party gained 77 of the 79 seats for that province with only 58% of the votes, compared to the former ruling Democratic Party who only gained 2 seats despite getting 22% of the vote. (The Democratic Party held 52 seats during the elections before last year, with only 39.5% of the vote.) The Green Party, although they have won 12.5% of the total votes, got no seats at all. This recent election has proven to many that there is a need for a change in their electoral system. Adriane Carr, the British Columbia Green Party leader, leads the initiative to change the existing first-past-the-post system of Canada. Carr launched this initiative to encourage the government to consider her drafted legislation on the mixed member proportional government (Caron, 1999; Green Party of Aotearoa New Zealand, 2002). In this proposed system, the benefits both electoral schemes will be combined. A voter will choose a candidate that he or she likes, and at the same time, vote for a party also. In this way, all constituencies will be represented, and at the same time, a proportionate number of seats will also be given to parties receiving a certain percentage of votes, thus, ensuring the representation on the interest or cause that it represents. It was also argued that this new system will maximize voter turnout as all votes will be taken into consideration, unlike the case of a first-past-the-post system where only the winning votes, so to speak, are represented in the parliament. This means that in this system, it would not only mean that the leading party would have seats in the Parliament, but also the minority party or parties, depending on the percentage of votes that they have won (Caron, 1999). This scheme is also said to increase the representation of women in the Parliament. In many countries in the Europe, proportional representation increased women representation by more than 10% (Caron, 1999). Such condition is something being advocated by parties like the Democratic Party in Canada. If proportional representation will be adopted by the Canadian political system, it is forecasted to increase the voter turnout from all levels of election, and at the same time, also increase the representation of other interests in the Parliament. Theoretically, this scheme will make all votes count. The ultimate question: Will this work in Canada? Many advocates of first-past-the-post system believe that if the system is not broken, then, do not fix it. But it appears that while it is not broken, there is a better way of doing it. Even cynics do not disagree with having a need for electoral reform. The current system of electoral process in Canada is based on a winner-take-all principle, which means that the only representation happening is the winning vote, i.e., the popular partisan viewpoint. This also means that the other vote, the losing view, lose their right to political representation. This system has produced a government with a winning party winning majority of seats, without really wining majority of the votes (Gordon, 2003). Canadians have only enjoyed true majority governments, elected by a majority of voters, four times since World War I (Gordon, 2003). The recent election show how â€Å"unrepresented† the voters are. And with the idea that they really have not attained a true majority government yet, still, they are using the first-past-the-post system despite the theoretically good outcome of a proportional representation system, or at least, the mixed member proportion. In all aspects of the theory, from the idea of being truly representative, to the idea of increasing voters' turnout, we know that this mixed member proportion will work. Since World War 1, only four times have the Canadian people attained a true representative majority, which means for only four times have the people been truly represented. This new system will in almost all certainty, reduce the control of the reigning party in the parliament. The system has worked or is still showing potential benefits in all countries which have tried this. Canada will not be an exemption. So, more than just asking if this system will work in Canada, the ultimate question is: Will the existing government give this a chance to work? Works cited: Caron, Jean-Franà §ois. â€Å"The end of the first-past-the post electoral system?† Canadian Parliamentary Review, 22.3 (Autumn 1999): 19-22. Green Party of Aotearoa New Zealand, 2002. Rod Donald exports MMP to Canada. Press release (28th March 2002). Gordon, Larry. â€Å"It’s time for fair voting in Canada.† Economics at About.com (15 October 2003). One Stop Canada, n.d. Canadian Political System. http://www.onestopimmigration-canada.com/canadian_political_system.html

Coffee Bean Essay

ST. GREGORY’S UNIVERSITY Coffee Bean, Inc. Managerial Accounting, BU2123, Research Project, Spring 2007 Coffee Bean, Inc. (CBI) is a processor and distributor of a variety of blends of coffee. The company buys coffee beans from around the world and roasts, blends and packages them for resale. CBI currently has 40 different coffees that it offers to gourmet shops in one-pound bags. The major cost of the coffee is the raw coffee beans. However, there is a substantial amount of manufacturing overhead in the company’s predominantly automated roasting, blending and packing process. The company uses relatively little direct labor. Some of the coffees are very popular and sell in large volumes, while a few of the newer blends have very low volumes. CBI prices its coffee at manufacturing cost plus a markup of 30%. If CBI’s coffee prices are significantly higher than the market, adjustments are made to bring CBI’s prices more into alignment with the market. The company competes primarily on the quality of its products, but customers are price conscious as well. For the coming year, CBI’s budget includes estimated manufacturing overhead cost of $3,000,000. CBI assigns manufacturing overhead to products based on direct labor-hours. The expected direct labor cost totals $600,000, which represents 50,000 hours of direct labor time. Based on the sales budget and expected raw materials costs, the company will purchase and use $6,000,000 of raw materials (mostly coffee beans) during the year. The expected costs for direct materials and direct labor for one-pound bags of two of the company’s many coffee products appear below: Mona Loa $4. 20 0. 30 Malaysian $3. 20 0. 30 Direct Materials Direct Labor (0.025 hours per bag) CBI’s president is very concerned about lowering profit margins. Several prices have had to be reduced to meet market pressures and other products are selling at good volumes without price adjustments. The president talked with CBI’s controller who believes that the company’s traditional costing system, which uses direct labor costs to allocate manufacturing overhead, may be providing misleading cost information. To determine whether or not this is correct, the controller has prepared an analysis of the year’s expected manufacturing overhead costs, as shown in the following table. Activity Center Cost Driver Purchasing Purchase Orders Materials handling Number of Setups Quality control Number of Batches Roasting Roasting Hours Blending Blending Hours Packaging Packaging Hours Total manufacturing overhead cost: Expected Activity 1,710 orders 1,800 setups 600 batches 96,100 hours 33,500 hours 26,000 hours Expected Cost $ 513,000 720,000 144,000 961,000 402,000 260,000 $3,000,000 Data regarding the expected production of two representative products, Mona Loa and  . Coffee Bean Malaysian coffee, are presented below. There will be no raw materials inventory for either of these coffees at the beginning of the year. Mona Loa Malaysian 100,000 2,000 Pounds 10,000 500 Pounds 3 3 Per batch 20,000 500 Pounds 1. 0 / 100 1. 0 /100 Hours per pound 0. 5 / 100 0. 5 /100 Hours per pound 0. 1 / 100 0. 1 /100 Hours per pound Expected sales Batch size Setups Purchase order size Roasting time Blending time Packaging time Step into the shoes of the controller and prepare a complete report for the president explaining the results of your research. Compare the two product-costing methods: (1) the currently-used, volume-based method, and (2) an activity-based method. The supporting tables should determine full costs and prices of both products using the two different cost allocation methods. Continue your detailed report to the president by justifying why the company should remain using their present overhead allocation method or to go activity-based costing. Go beyond the accounting issues in your report, mentioning the impact on pricing, volume, and marketing decisions. Support your recommendation with current articles (Use the online resources of the SGU James J. Kelly Library to locate articles within the last year that deal with cost allocation issues). Three to five supporting articles should be sufficient to support your findings. Since this is a formal report, it will require a transmittal memo summarizing your findings. This memo/summary should be supported by a detailed report including tables and references to business/accounting literature. Include a bibliography in APA format. Also, since presidents rarely have time to read the entire article, but are interested in their content, provide an abstract of each citation. Remember: appearance, spelling, grammar count. Adapted from Managerial Accounting, Eight Edition, Garrison & Noreen, Irwin, 1997. 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