Organizations as Open Systems – China Star Chinese Restaurant

Relationship: worked as an order taker five years ago. Responsibilities included taking and packing the orders, end-of-the-day bookkeeping. Introduction China Star is a fifteen-year old, mid-size Chinese restaurant serves common Chinese dishes. It has a dinning area, and a smaller bar/administrative area that has a back door where customers come to pick up their telephone orders. The staffs include the owner/manager, an order taker, a waiter, two busboy/girl, four chefs, two part-time delivery drivers, and one cleaner. The restaurant is in an excellent location: very close to the Reston Town Center, surrounded by numerous high-tech companies and rich residents, but has been carrying its flat revenue for the past decade. It opens seven days a week, yet its most profit comes from the $5 range lunch combination during weekdays and carryout dinner orders. The dine-in dinner business had slowed down after several years of its opening, the average table that the waiter serves each night is about five. Carryout orders constitute about one half of the restaurant's total sales. Its customer base has shrunk into office workers and residents within several miles. Analysis As an open system organization, China Star's inputs are the workers, the raw food, and the facilities. Enough workers, the skill of the workers, the quality of the raw material, and the states of the facilities are all important in producing the satisfying output—fresh, delicious food and excellent service. But China Star was far from inputting enough: a) The skills of the chefs were just so-so, and it always had only one waiter. During the busy lunch hours, all the customers came at once; it was impossible for the waiter to take care of each table well and give each customer full attention. Often the customers got impatient, started to call the bus boys, and found that they hardly speak any English. Sometimes when the customers were happy they'd try to talk to the Chinese busgirl and asking her questions about China and Chinese food, but the girl wasn't able to continue the delightful conversation, and the customers were disappointed, even embarrassed. b) In order to save time and costs, restaurants mass process their wholesale ordered raw food once a while. Large restaurants have state of the art refrigerators and freezers for them to separate and preserve the food accordingly. But China Star has only one large walk-in refrigerator for almost everything and the storing wasn't done in a very pleasant manner. Inevitably the food tasted funny several times. c) The restaurant's decoration was old and it looked rather messy and stuffy. The drawings on the wall looked cheap and the Great Wall embossment was coarse. It was not a pleasant place to sit and enjoy a formal meal at all. With various stylish restaurants opening in the area, and the Chinese food rivals developing in every shopping center offering chicken-fried rice of $4.75, China Star has neither product nor price to compete with. It soon entered the Negative Entropy state of an open system. The restaurant failed to take advantage of its surrounding office buildings and residents, most of all, the excellent economy during the late 1990's. Its business fell into the typical â€Å"cheap carry-out Chinese food† image. The dine-in customers felt bored sitting in a typical Chinese restaurant, while they can hang out in a lively place with TV and live band just 3 blocks away. People came to China Star for cheap food only, and carryout orders save tips. But even carryout orders declined soon. During the peak lunch time the telephone order volume is extremely high. Customers often have to be put on hold since there is only one person responsible for taking the orders, send them to the kitchen, pack the orders, and sometimes phone the customer back— again the input is not sufficient. It's easy to make a mistake with disastrous result: one, sometimes two if the orders are switched, very angry and hungry customers that would never recommend this restaurant to others, and food that cannot be resold. Although this system was obviously moving toward its death in a highly competitive environment, the owner wasn't actively seeking solutions. The waiter and other employees were often telling him customers' comments, giving him advises–which applies the â€Å"feedback† principle in the open system theory, but he had ignored them all. (the restaurant was finally redecorated a few years ago, other changes unknown) It's actually not very hard for China Star to start a better cyclic. Restaurants are relatively less-complicate organizations. The most important principles are inputs and feedbacks. The restaurant could increase the human, material, information inputs, and adapt more the changing environments, for example, revise the menu and serve one-of-a-kind Chinese appetizers with Chinese wines and expensive, authentic green teas; hire more waiters and a few performer play soothing music with Chinese traditional instrument for the exhausted people at the end of the day; construct a website for the restaurant and make the carryout ordering web-enabled. And of course, listen to the feedbacks, both from the outside and inside of the organization. As these changes apply, the restaurant will also increase the price on its menu, without worrying about irritating its customers. As mentioned before Reston is a high-income area where people are more into â€Å"style† and willing to pay more to have a good time or feel special. Once the restaurant has established its reputation and attracts certain group of loyal customers, its sales will become stable and the organization enters the steady state until the environment changes again.

Living with My Parents vs. Living Independently

Living With My Parents vs. Living Independently I always thought that moving out of my parents’ house would be an exciting new start to life. Apparently nobody thought to explain to me how stressful and cost-consuming life really is outside the comfort of mommy and daddy’s embrace. Living with my parents and living independently differ exponentially, but living with my parents isn’t nearly as dreadful as I thought it to be as a teenager. The first upsetting difference between living alone rather than with my parents is the food.When I lived with my parents, it was easy to eat a healthy, home cooked meal and not have to worry about preparing it. It usually just appeared on the table as an alluring plate of deliciousness without having to lift a finger. On the other hand, trying to make a meal is much more complicated when living alone. The freezer is normally stocked full of microwavable foods that taste like plastic and the refrigerator maybe has some five-day-ol d milk.Gaining weight is easier than ever when the only cuisine available is fatty and nutritionally deficient. The second depressing part of living alone is the money, or more precisely, the lack thereof. When residing at my mom and dad’s house, wasting money on luxuries was the most exciting part. Not to mention my parents’ seemingly endless amount of money to help pay for anything and everything was always a plus. Saving money was even possible at the time. But now, living independently definitely has its drawbacks.How many bills can possibly come in one month? With barely enough money to pay the bills, how is a girl supposed to shop for anything other than frozen goodies and Ramen? And forget about trying to save any cash, rummaging through my coin jar has become my favorite new hobby. Furthermore, who knew that cleaning didn’t just magically happen? Coming home from work and school to a clean house was definitely a convenience, though it went unnoticed at t he time. I was previously unaware that so many things in the house could get dirty.The cleaning never stops! Piles of laundry lay scattered across the floor of the house because apparently not every house comes equipped with a washer and dryer! Living with my parents might have been intolerable at times, but it made life so much easier. Not having to worry about food, money, and cleaning probably doesn’t seem like a big deal to most people, but it’s definitely a luxury. I appreciate how easy and carefree life was while living with my parents because I now realize how arduous life can really be.

Teresa of Avila Essay Example | Topics and Well Written Essays - 500 words

Teresa of Avila - Essay Example She was born on 28th March 1515. Early in her young age Theresa was caught between the strict but honest father and romantic mother. She was caught between detached discipline and over attachment to worldiness. Though she lead an ordinary life , the sense of sin never left her, as she was drawn more and more into the worldly things like flirting and rebelling. At the age of 16, just to discipline her, her father had to send her to the Augustinian nun’s convent for education. Though she hated it first, she found the place less strict than her father; but due to illness she had to leave the place after 18 months. When the time came to choose between marriage and religious life, she chose the later because that was the only safe place for a person tempted by sin. She left for the Carmelite convent of the Incarnation at Avila were she was almost a loner. She started to learn and practice mental prayer to keep Jesus Christ always with her. But there were enough distractions in the convent. Nuns from the rich families were more attentive to their physical appearance than to their inner spiritual life. The prestige of a nun was measured not by piety but by money.

(Dear #2996) Essay in Philosophy class Example | Topics and Well Written Essays - 1000 words

(Dear #2996) in Philosophy class - Essay Example This short paper focuses for the main part on the subject of God in addition to the soul, rebirth and the more mundane affair of marriage. We also discuss points that would help to explain this situation that is peculiar to the Buddhist religion. In relation to mundane life, the noble Buddha did not delve extensively on the topic of marriage for example, so no rules were laid down dealing with married life although he did give some basic advice to ensure that people would lead happily married lives. Similarly, there are no direct references to related issues such as divorce or birth control. Nonetheless, worldly concerns were addressed but the focus was on liberation from suffering in this world and general guidance on how to live a good life. The most notable absences however, that one would expect to have been talked about by the founder of a religion, are the subjects of God and soul. A common fallacy is that buddhists deny the existence of both. Some would differ saying that by not proclaiming the existence of God, the noble Buddha in effect denied the existence of God, but even with this position, they cannot claim this with certainty for the very reason that no clear statement was made accepting the existence of God. At the same time, we could also argue that God does exist because there are sufficient records of noble Buddha discussing God in the Buddhist scriptures. In regard to the soul, the position of Buddhism is similar to Islam wherein God responded to a question concerning the soul; that people have only been given a little knowledge. The noble Buddha however was more strict in ensuring that his teachings were kept simple, and he did not intend to cause any confusion. In actual fact, the noble Buddha neither categorically denied God or the soul, nor did he affirm their existence. What the noble Buddha discouraged was speculating on such subjects on which one does not have proper knowledge. The noble Buddhas position was to either remain

Knowledge Management - managing knowledge Essay

Knowledge Management - managing knowledge - Essay Example According to Dimitris Karagiannis (2005), knowledge is a combination of many factors which together makes up strategies that helps in making decisions. It includes aspects of understanding of the organization and its people and the experience with the organization or others in the same line. It includes organized information from documents and other artefacts in the organization or outside. It is a difficult task to organize knowledge and get the best value from it. There must be highly organized initiative in the aspects of organization itself, its people and the enabling environment. According to Sanchez Ron (2001), knowledge management is a technology by itself which helps in assessing the actual and potential contribution to the process of creating and sharing of new ideas and decisions in an organization. It is good to understand that knowledge management is more of a process than a product. It represents a process in which ideas and facts are gathered, carefully analyzed and considered before arriving at any strategy. It forms the bases for effective planning and understanding of a strategy. It provides a way in which unstructured data is processed to become a more useful data that can form basis of strategizing for the benefit of the organization. The process consists of some components that are important and cannot be ignored. It requires consulted effort or collaboration from all quarters of the organization. It is important for all to contribute to the process in order to have diverse knowledge about a subject matter. In requires the aspect of content ma nagement and taxonomy management. Hence any effective organizational management must put into practice the knowledge management process in order to have effective strategies that work for the organization. According to Chun Choo and Nick Bontis, (2007), there are two broadly recognized approaches or technologies to management that are currently practiced in many companies and which are being advocated by many consultant firms. Sound management strategies require an extremely creating synthesis of the two approaches as each helps to offset the limitations of the other. The two approaches that are being advocated in company strategy are tacit and explicit forms of knowledge are being used in organizational management. The two approaches are merely forms of organized knowledge that can be applied in management. They are knowledge approaches which are fundamental in making decision. In the process of codification or articulation, tacit knowledge can be transformed to explicit knowledge. Tacit knowledge approach in strategies As the name suggest, this is the knowledge that cannot be easily shared with other people. It is the knowledge that is possessed inside and which is difficult to communicate to the organization unless through an enhanced process of knowledge management. This is the kind of knowledge that people carry in their minds. It is a form of knowledge that is difficult to access unless one is willing to contribute it to the organizatio

Opening a Krispy Kreme Doughnut in Spain Essay Example | Topics and Well Written Essays - 250 words

Opening a Krispy Kreme Doughnut in Spain - Essay Example The target group should be adolescents and children from affluent households who would not mind spending more for being a part of hip and happening brigade (ICMR, 2003). Undertaking local manufacturing operations This is perhaps the trickiest part of all since Krispy Kreme Doughnuts are advertised as tasting best when they are served hot off the frying pan. Hence, it is imperative that some sort of heating arrangement must be available at the outlet but the crucial question is whether local manufacturing operations should, rather, could be undertaken. Considering the distance between Spain and USA and also taking into account the freshness of these doughnuts which happens to be one of their USPs; even if the first few consignments are air freighted from US it would not be economically feasible to get them on a regular basis from United States. So, with some initial help from the parent company and under the sharp eyes of their quality controllers, local production must have to be und ertaken after imparting sufficient training to local recruits.

Is Large-Scale Biomass Combustion a sustainable Option for Energy Essay

Is Large-Scale Biomass Combustion a sustainable Option for Energy Generation - Essay Example It also encompasses the dead remains of biological species that can be utilized further as a fuel or chemical product (Basu, 2010). In this similar concern, energy is fundamentally described as the ability or the capacity of an individual or a person to perform a particular task. It possesses a significant need in everyday life. For instance, energy is being used for various activities that include the execution of cars for moving one place to another and televisions for the purpose of entertainment among others. Moreover, energy is also used for producing electricity and heat for different purposes. It has been apparently observed that a large percentage of energy is obtained from the combustion of biomass (Need, 2012). In this paper, a critical discussion about the use of sustainable energy will be taken into concern. Moreover, the determination of large-scale business combustion as one of the sustainable options for energy generation will also be discussed in this paper. Large Sca le Biomass Combustion as a Sustainable Option for Energy Biomass Combustion is principally described as the method of burning through which 90% of the world’s energy is released to supply heat and energy services like material processing that includes food preparation, electricity and transportation. It has been viewed as the process through which fuels are burnt with the help of oxygen (Overend, 2004). Biomass Combustion Biomass combustion is considered as the oldest type of combustion that largely exploited by human beings. It is also regarded as one of the most complicated forms of combustion system. This process of combustion entails the use of solid fuels in a multi-phase reaction system interacting with different mass fluxes. The prime understanding of the solid fuel combustion system reveals with reference to the fact that only fuel can burn and release heat. It has also been viewed that solids and liquids do not burn by themselves but consume heat in the process of dr ying which are required to be chemically transformed into fuel gas. There are several different materials that can be considered as biomass. These materials include solid wood, fats and proteins (Overend, 2004). The process of biomass combustion fundamentally takes place in 6 phases that comprise drying, coke combustion, volatile ignition as well as emission, volatile flame burning along with volatile flame extinction. It has been apparently observed that the process of biomass combustion initially takes place in the homogenous stage and later in the heterogeneous stage. The procedure of the biomass combustion can be better understood with the help of the following illustration. Fig.1: Process of Biomass Combustion Source: (NEST, n.d.) The deliverance of sustainable energy has been noted to be one of the critical issues in recent times linked with the procedure of biomass combustion. In this similar context, it can be stated that human beings might face a tough challenge in the upco ming years about accessing different energy sources. According to various researches, biomass combustion is regarded as an important source that might make a greater contribution towards the fulfilment of the demand for energy in future. Presently, it has been viewed that biomass is one

Psychology (various techniques for developing memory) Essay

Psychology (various techniques for developing memory) - Essay Example I studied the poem I had developed for 2 minutes. One hour later, I attempted to recall both the acrostic poem and the concepts to which it was related. 3) I sung the poem, The Ballad of Rudolph Reed, by Gwendolyn Brooks out-loud to the tune of the nursery rhyme, Humpty-Dumpty. I practiced singing the poem three times and then one hour later I attempted to recite the poem from memory. 4) My final experiment consisted of attempting to remember a list of 10 items by using the techniques of the Loci method. The list I attempted to remember was as follows: Tomatoes, Trumpet, Scissors, Wallet, Motorcycle, Sofa, Elephant, Newspaper, Subway train, and Faucet. I walked a route familiar to me within the vicinity of my home in accordance with the technique. I assigned one of these items to each of ten locations within the designated route and practiced associating the items and the image of the location. An hour later I retraced my steps, attempting to remember the list by association with the locations on the route that I had selected. The four experiments produced various different results. Personally, I found that the technique for developing an acronym or using an acrostic to remember concepts and lists were particularly useful. These two experiments produced by far the best results.

Role of Teacher on Society Essay Example for Free

Role of Teacher on Society Essay Who are we? What are we? A lot of what we are was implanted in us as young children by teachers who cared enough to teach it to us. Throughout my life I was taught many of the values I have today by my educators. I was instilled with the skills of how to get along with my peers, knowing right from wrong, and realizing that the best way to get what I wanted was to respect others first. The teachers I’ve had along the way have inspired me to become a better person. They have made me recognize how I wish to be like them. I too want to help children realize their full potential. I want to be a person in their lives that they can look back on and say she helped me hope and strive for the best that I could be. In today’s society there are so many distractions in students’ lives. They have to deal with family traumas, drugs, extra-curricular activities, making their place in the world, peer pressure, jobs, etc.. When all these things are on someone’s mind it’s often hard to concentrate on school work and rules. I want the students to come to my class with the attitude that it is a place of refuge. I want them to forget about their fulfilled lives and see that learning can be fun and interesting. I want to make them realize that school isn’t just a boring place where the cafeteria food is bad. I want them to be interested by finding something they enjoy doing and maybe they’ll be able to find their places in this world a little better. It is so hard to make students understand how crucial education is. Especially in today’s society. I want to try and raise their self-esteem so they can become the people they want to be. I want to be involved in their lives so maybe if they are having problems at home they can feel like they can come to me for comfort or help. There are a few teachers who I could have gone to for assistance. I now appreciate them more than ever because they made me see hope in people. I want to be like them if not better. In order to be the teacher I would like to be I first want to challenge my students to be the best they can be. I agree with a Nation at Risk when it calls for greater academic rigor, and higher expectations for students. I want to enforce these values in my classroom as well. I’ve always been a fan of learning in groups. I found that a little assistance from fellow classmates always aided me further in my learning progress. That’s why cooperative learning will definitely be applied in my classroom. Since cooperative learning helps to amplify students interactions and processing skills it will assist children to strive for the higher expectations that society will put on them as they get older. Cooperative learning can improve on students grades, self-esteem, personal relationships, and understanding of others. Which I feel is a very good incentive to try and promote in my own curriculum. The groups should be small and circular to promote easy conversation. Within the group the assignment should be shared and the work load should be evened out between how many students there are. If the labor is shared then all students will feel like they have contributed in some way and might take it more seriously if a whole group is depending on them instead of just one person. If a student understands that he or she has a responsibility to do something within their group they will more than likely do it, because if they don’t then the individuals in the group might be upset with them and it would serve as an incentive for them to do well. Students often receive approval or rewards for a job well done in their overall performance. When I obtained praise for my accomplishments I usually always tried to repeat what I did well. I’m a firm believer in awarding children and reinforcing them when they behave and do a good job. In my classroom, I will try to make students feel like they are doing things right, and maybe they will try and achieve at everything they do. I like the idea of project-based instruction as well as cooperative learning. Trying to have children learn with real life situations is a very good concept. Asking the students higher level questions and having them involved in their own projects gives the students a taste of what â€Å"real life† has to offer. It also excites and motivates students to want to learn. If I combine cooperative learning and project-based instruction in my classroom I feel that it will be an effective way of approaching learning and getting the curriculum across to the students in a fun way. I’m aware of the different fundamental principles of teaching. Which include: essentialism, perennialism, progressivism, existentialism, reconstructionism, and behaviorism. Each have their own unique techniques of teaching, but I prefer progressivism. I’m ecstatic that there was a progressivist movement that stimulated schools to broaden their curricula, making education more relevant to the needs and interests of students. I feel that it was brilliant on John Dewey’s behalf when he states, â€Å"as we alter our relationship with our environment, we ourselves are made different by the experience. † I believe that we are changed everyday by encounters we have. Everything we do alters our lives in some way and that makes us who we are. I’m a fan of progressivism because it emphasizes the ability to have intelligent free-thinking citizens. I like the idea that progressivism is a hands on technique of teaching. John Dewey thought there should be more observing and experimenting withe the subjects. He proposed a five step methods for solving problems: (1) become aware of the problem, (2) define it, (3) propose various hypotheses to solve it. (4) examine the consequences of each hypothesis in light of previous experience, and (5) test the most likely solution. I want to apply this style of teaching in my classroom and hope that the students respond as well as I think they will. In conclusion, I want to state that I feel strongly about promoting students to excel. I feel it is essential that children are confident about themselves and what they achieve while they are attending school. I want to present to the students in my classroom that they can feel free to be themselves and try to have them interacting with others. In teaching there are teachers and then there are great teachers. I will prove to be a great teacher!

The Philosophy of Freidrich Froebel Essay Example for Free

The Philosophy of Freidrich Froebel Essay Friedrich Froebel was born in 1782 in Oberweissbach, Germany. His mother died when he was 9 months old and his father was away on pastoral duties quite often so he went and lived with his uncle when he was 10 years old. Froebel was not completely interested in school but enjoyed forestry, geometry, and land surveying (Dunn 169). His upbringing and interests, along with his Christian faith strongly influenced his educational philosophy. Friedrich used learner-centered, child-centered, experience-based ideas to develop the worlds first kindergarten, a school for young children (Henson 8). The father of kindergarten was the title usually associated with Froebel and his philosophy. His methods allow children to grow and move on as they conquer new concepts not when educators or administrators decide. Froebels philosophy was influenced by the teaching methods of Pestalozzi (Dunn 169). He agreed with many of Pestalozzis ideas but thought that there was too much focus on memorization and direct instruction. Froebel balanced group activities with individual play, direction from teachers was balanced with periods of freedom, and the studies of nature, mathematics, and art were balanced by exploring (Froebel Web). Through exploration by the child and observation by the teacher education could be distributed as was needed in the best interest of the child. He wanted students to figure things out for themselves through discovery. If a child can discover a concept on their own that child is more likely to grasp and clearly understand that concept because they were the means by which they learned the information. Play was a major aspect of his philosophy because it gave children a chance to externalize their inner nature and a chance to imitate and try out various adult roles. Children had the chance to try on many faces and figures so that they could find out who they were and who they should be. Even today people try to find out who they are because in the essence of each of us we feel that who were are or supposed to be is already in our souls we just have to discover who that is. Through play and role playing children could learn how to solve their own problems. Much of what people learn comes through their experiences, if children are able to practice and experience certain problems they will develop the skills necessary to problem solve. If children could work through these situations there could be a decrease in behavioral problems as children grow because they had the chance to develop their problem solving skills at a young age. According to Froebel, the ultimate purpose of education is the realization of a faithful, pure, inviolate, and hence holy life (Dunn 170). Since Froebels philosophy was based on idealism he believed every person had spiritual worth and dignity. If a person assumes that each individual they encounter has worth and thus should be treated so more people in life would be, simply put, happier. It comes down to respecting each individual for whoever they are. Thus like idealists he believed that children had within him all he was to be at birth. As Dunn states, practice in education should be designed to develop and cultivate individuals toward attainment of their destiny (170). Starting children off in kindergarten gave them a chance to grown and be what they were destined to be, by partaking in play and role playing with plenty of space to develop properly. In todays society there is a lot of talk about finding yourself and taking space to figure out who they are. I think a lot of that is because people never had a chance to do so when they were young. Todays society just speeds through life trying to get one step ahead of the next person and later in life they stop to reexamine who they have become because they didnt take the chance to discover that person when they should have. Froebel stressed the importance of creating a happy, harmonious environment where the child can grow; and where the value of self activity and play are foundation to the development of the whole person (Froebel Web). Teachers should observe students during play so that they know how and what to teach and gear toward each student because you need to cultivate the inner person in each. It isnt all about chaos because there is order and structure in play and free will. Play and freedom are structured through gifts and occupation. The gifts are used to help children understand concepts and the occupations to make products. Froebel was trying to create a school that uses the childs imagination and creativity already in them to foster an education plan that fit their minds and souls. We have been taught in the bible to be like children because they are pure and clean, if more of us became like children then the world would be a better place. The effects this theory has on the classroom can be positive and negative. The idea of a child-centered classroom is a terrific idea but can make the classroom seem very chaotic and haphazard which is difficult for some teachers and parents. With a child-centered classroom the planning a teacher puts into her lessons must be flexible and follow the needs of each individual, which is difficult because each child has different needs so planning could be a lot of different activities and flexibility. This philosophy allows opportunity for all students to completely succeed because it works with the childs strengths and educational pace. A problem with that is that children dont develop at the same rate so children will be going over different material at the same time. By allowing children to work on their own, the behavior they have will improve because they feel that they have more control over their own education and pace. As many positive effects as this free child-centered philosophy has, it also has in negative effects. Students may not reach their potential if they are not challenged by high expectations. There are also fewer concrete assessments to gage child success and failure. The philosophy could be a huge success if employed by a highly committed teacher who is prepared to truly encourage individual growth. The teachers role in the classroom is not just as observer who watches children play and explore independently but to guide the children to make discoveries. Open ended questions are a great way for teachers to foster critical thinking because the teacher does not provide the student with opinions (Froebel Web). Teachers are guiders and helpers for children to explore who and what they are to become. There are a lot of great ideas that have come from this philosophy, one being the introduction of kindergarten into the educational system. Some people today even think that it is too early to start a child in school but when is it really a great time to start? There are more people who are starting to embrace the idea of a child-centered approach because too much of education is focused on what we think children need to learn and not necessarily what they need to learn or are ready to learn. Teachers today need to stop and look at educators and philosophers of the past to recognize simple theories they employed. Todays education has become caught up in speed and necessity to be better than the next guy, we have forgotten to look at the people we are teaching and the fact that some are not ready for what we think they should be. There is a need for adults to get back to a simpler way of life so that we dont forget that children are precious gifts that must be treasured and fostered. Works Cited Dunn, Shelia G. Philosophical Foundations of Education: Connecting Philosophy to Theory and Practice. Upper Saddle River NJ: Merrill/Prentice-Hall, 2005. Froebel Web. Online Resource. 1998. http://www. froebelweb. org/webindex. html. Henson, Kenneth T. (Fall 2003). Foundations for Learner-Based Education: A Knowledge Base. Education, 1, Retrieved 10/28/06.

A Midwifery Community Profile Health And Social Care Essay

A Midwifery Community Profile Health And Social Care Essay This community profile is based on an area in the outskirts of Glasgow and the objective is to identify the current provisions of maternity care and other health care services, which cater for the needs of the local population in the physical, emotional, intellectual and social needs for groups in the community, additionally, commenting on any deficits in care. Health promotions have been identified as resources that will enhance the health of this specific communitys health and are included in the profile. Also, the role and contribution of the midwifery services is explored, along with other primary healthcare providers and how they use teamwork to deliver healthcare to the community. Professional and ethical issues have been discussed throughout the profile and as all aspects of health are unrelated and interdependent, (Ewles Simnett, 1992: Ch1 p7), a holistic and professional view has been taken to evaluate the needs, and health services of this community. The RCM believes that truly woman-centered care must encompass midwifery-led care of normal pregnancy, birth and the postnatal period and services that are planned and delivered close to women and the communities in which they live or work, (NHS Evidence, 2008). This statement shows the importance of a community midwife, as their role is to not only provide the clinical skills, but also be accessible for support and advice at the time of much adjustment for a woman. If the midwife can become a part of the womans community, getting to know the woman and her family more personally, learning to understand their lives and the nature of the life around them, she will be able to be more responsive and understanding to them as individuals, and move away from the depersonalization of the institution. Individual societies each have their own specific needs and characteristics, and it is vital for a midwife to know her area well in order to respond appropriately, along with poverty levels and racial mixes (Fraser and Cooper 2009, p. 43). Community-based care can be in the home or in community hospitals and centers, but is a process that emphasizes consultation, collaboration, and referral to the professionals who are most appropriately prepared to meet the women ¹s needs (Walsh, 2001). It is also vital that women are educated and women should be given appropriate, accurate and unbiased information based on research that would allow and encourage them to make informed choices in relation to their care (Baston Green, 2002). Women from different backgrounds, and areas can often have very contrasting education levels and as a midwife, it is essential to know your neighborhood well in order to take these into consideration when communicating with a woman. The area chosen for this community profile is in the south west of Glasgow, which will now be referred to as area X, with a population of 10,024 (RDC Registrar Generals Census, 2001). Table 1: Age Distribution Area X Indicator Number Percentage Population aged 0-15 2,400 23.9% Population ages 16-64 6,463 64.5% Population aged 65+ 1161 11.6% The majority of the population is in the age range 16-64 years and the relevant health care services in the community for this group are the antenatal clinics, family planning and screening clinics. Graph 1: Hospital admissions for heart disease Area X With respect to the social and economical characteristics of the area, this graph shows the volume of people admitted to hospital for heart disease in Area X. Heart disease is more accurately described now as a disease of social and economical disadvantage and poverty (Blackburn, 1991:Ch2 p36) and the major risk factors contributing to heart disease are smoking and diet. These lifestyle factors also may echo a life associated with lower social class (Bond Bond, 1994: Ch 4 p 70). Nearly half of the houses in Area X are owner occupied, and that amount can be split into two; ex-council houses and private housing estates. The other half are tenanted homes, renting either from the council or private renting. Almost a quarter of all homes in the area suffer from overcrowding. These statistics indicate there are many occupants of tenement flats and these tend to be low-income families who have little or no choice about the type or standard of accommodation they live in (Blackburn, 1991). Higher income groups tend to live in the private housing sector, and have choices in the location and type of heating which are important influences affecting the health of families (Lowry, 1991). Table 2: Housing Area X Indicator Number Percentage Owner Occupiers 1,851 41.1% Overcrowding 1,000 22.2% (RDC Registrar Generals Census, 2001). Glasgow is home to the most workless households in the UK, according to the Office for National Statistics, (ONS). Figures measured in 2007 indicate 29% of households in the Glasgow City council area had members of working age who were unemployed (BBC, 2009). Area X also has a high percentage of people unemployed according to Scotlands Census from 2001, with both those who are unemployed and claiming and those who are economically inactive. Long-term unemployment can be a self-perpetuating cycle that leads to low morale and poor health (NHS: Greater Glasgow, 2005). Other effects of unemployment are the increased rates of depression, particularly in the young-who form most of the group who have never worked (BMJ, 2009). It is obvious from this that unemployment can alter both our mental and physical state, and in Area X almost 40% of the population of children live in a workless household, which would also have an influence on these childrens quality of life. Table 3: Unemployment Area X Indicator Number Percentage Unemployed Claimants 360 5.8% Economically inactive 3,128 43.6% Children in workless households 1.010 38.9% (RDC Registrar Generals Census, 2001). The role and contribution of midwifery services in Area X are vital in supporting childbearing women and their families, through a holistic approach. It is very important that midwives had a good understanding of social, cultural and context differences so that they can respond to the womens needs in a variety of care settings This is attained by an integrated midwifery service being part of an expert multidisciplinary team, allowing midwives to draw on other organizations to meet the holistic needs of individual women and providing a complete range of services. (Fraser Cooper 2009, p. 7). Midwives in Area X use the local hospital, and local health centers for antenatal and postnatal clinics, as well as parentcraft classes, working along side hospital doctors and GPs. The GP usually confirms the pregnancy and thereafter, an appointment is given to the woman to be introduced to the community midwife for a Booking visit, as these midwives often better understand social situations through working in the area. The women are generally referred, by the GP, to either the local hospital or a nearby health clinic to meet one of the midwives who work in Area X. These midwives work in teams of around 5, covering 2 or 3 certain postcodes in Glasgow each, and each team named after a colour to make it simple for women and their families to understand which group of community midwives they will be receiving care from, e.g. The Blue Team. This system also works well as it allows a certain degree of continuity as each woman will only be seen by the community midwives in her allocated t eam. Continuity of carer and care has been a key policy principle since the early 1990s. Research evidence demonstrates that women value continuity of carer in the antenatal and postnatal period (Waldenstrom Turnbull 1998, Homer et al 2000, Page 2009). Working in Area X requires a high level of continuity in care as it has a lower social class and experiences problems related to pregnancy such as 49.9% of the population of Area X are smokers. Other statistics for Area X include 38.6% of women smoking during pregnancy, a total of 160 women over a 3 year total. It is well known by midwives and obstetricians that smoking in pregnancy is associated with well recognized health problems and as midwives usually have the most professional contact with pregnant women, they have an important role in providing this advice and support (Buckley, 2000). Glasgow has a very well-organised network of smoke-free pharmacy services who provide NRT for smoking cessation services. They monitor carbon monoxide levels on a weekly basis and only dispense NRT if the breath test is negative (Mcgowan et al, 2008). Smoking cessation services are provided for Area X by specialist midwives, allowing continuity during pregnancy. These midwives speak to the woman and let them know what is available, without pushing them into quitting, and find out what their thoughts and feelings are, focusing on how good it is when women want to stop smoking. The chief executive of ASH Scotland, Sheila Duffy, stated in 2010 life expectancy, health problems, smoking rates, and deaths fro m smoking are all markedly different between Scotlands richest and poorest communities. Research in Scotland has found that smoking is a greater source of health inequality than social class. This shows clearly that deprived areas such as Area X are at the greatest risk of being affected by smoking issues. 43% of adults who live in deprived areas smoke, compared with 9% in the least deprived areas and this is shown in the prevalence of tobacco related diseases and deaths. 32% of deaths in Scotlands most deprived areas are due to smoking compared to 15% in the most affluent (Duffy, 2010). This is also reflected in the rates of newborn deaths as the death rate for newborn babies is more than twice as high in deprived towns compared with affluent areas and the high rate of deaths in poor areas was linked to premature delivery or birth defects (BBC, 2010). This leads on to why so many pregnant women smoke in deprived areas, such as Area X. Smokers typically report that cigarettes calm t hem down when they are stressed and help them to concentrate and work more effectively (Jarvis, 2004), and this prospect could be highly desirable to those suffering from stress and anxiety due to financial problems and other socio-economic factors such as low employment, high crime rates, poor housing and poor health care. Graph 2: Nicotine intake and social deprivation. Data from health survey for England (1993, 1994, 1996) As reported in the recent Midwifery Practice Audit 1996-1997 (END, 1997), midwives are the lead professionals in providing care for childbearing women. However, midwives need to acknowledge that other health-care professionals also contribute to each womans experience. Midwives work together with other professionals within the primary health-care team, providing integrated approaches to care delivery. Midwives have to use their own skills and expertise with the knowledge of how to access the expertise of other practitioners when required, allowing the women to receive holistic care (Houston S M, 1998). In the recent programme of work Midwifery 2020, a statement was made that women should be cared for in a multi-agency and multi-professional environment and NHS providers should have a collaborative working relationship with all other agencies based on mutual trust and respect to ensure that women and families receive optimum support. They should also ensure clear understanding of role s and facilitate effective communication between professionals and other agencies (Midwifery 2020, 2010). The first booking visit for antenatal care is important and a successful visit lays the foundation for building that special relationship between mother and the midwifery services on which so much depends (Cronk Flint, 1989:ch2 p9). The visit enables the midwife to establish any physical, psychological or social needs that will form the basis of the womans plan of care. In area X, the booking visit also allows midwives to inform the woman about the Healthy Start programme. Healthy Start is the Department of Health Welfare Food Scheme that helps pregnant women and eligible families, with children under 5, buy milk, fresh fruit and vegetables, infant feeding formula milk, and receive free vitamin supplements (NHSGCC, 2010). This is a clear example of how health services have integrated to allow women all the benefits they are entitled to, helping them achieve the best possible ex perience throughout their pregnancy. As the pregnancy progresses, parentcraft education classes are offered to prepare women for the birth experience (Jamieson, 1993) and raise awareness to the advantages of breastfeeding, giving support to mothers who choose to breastfeed. Area X presents midwives with many teenage pregnancies and antenatal services should be flexible enough to meet the needs of all women, bearing in mind the needs of those from the most disadvantaged, vulnerable and less articulate groups in society are of equal if not more importance (Lewis, 2001). As Area X is a deprived area, this contributes greatly to the teenage pregnancy statistics and throughout the developed world, teenage pregnancy is more common among young people who have been disadvantaged in childhood and have poor expectations of education or the job market. Teenagers seem to be more likely to have sexual intercourse if they come from the lower social classes or unhappy home backgrounds. Another explanation may be that many young people lack accurate knowledge about contraception, STIs, what to expect in relationships and what it will mean to be a parent (Allen, 2002). There are also serious psychological concerns related to teenage pregnancy, which the midwives in Area X must address while working with these girls. The teenage years are a time of much change and difficulty without the added stress and anxiety of a pregnancy, birth and finally motherhood. It is a midwifes duty to give the necessary advice and proper holistic care, hopefully improving the service provision and having a good obstetric outcome. Comprehensive holistic antenatal care programmes specifically for pregnant teenagers have been found to be effective in reducing poor maternal outcomes (Fullerton, 1997). For teenage pregnancies in Area X, there is a specific midwife who will be contacted at the booking visit and will be a support network for girls 18 and under, available at all times for advice, encouraging continuity and individualized, spec ific care for young mums. To conclude, through writing this community profile on Area X, I have discovered how difficult it is to work as a midwife in the community, especially in a deprived area such as Area X. From reading a large variety of articles on the psychological and social effects of poverty on pregnancy, there is much evidence that poverty has a significant effect on midwifery practice, and these women need the best care plan possible to ensure a positive experience. By having an awareness of the restrictions poverty can inflict on pregnancy and childbirth, the midwife can adapt her skills and provide care accordingly, keeping in mind aspects such as smoking during pregnancy and teenage pregnancies (Salmon et al, 1998). There is a reoccurring trend throughout this community profile confirming the link between lower socio-economic status and adverse pregnancy outcomes, such as prematurity, and the midwife is ideally placed to help identify and manage stresses, as it has been a very important conseq uence for the health and wellbeing of both mother and infant (Alderdice Lynn, 2009). Working in Area X on clinical placement has given me an insight into the importance of individualized care, as every woman is in a different situation and therefore has different needs, socially and psychologically. Some women may need more specialized care and support than others, however they are all of equal importance. Investigating the role of the midwifery service in Glasgow has opened my eyes to how both the midwives and the primary health care team deals with problems, and how without integrating health services, it would not be possible to give women the best possible care. Only by working as an integrated team with users will health inequalities be reduced, social exclusion be limited and public health become relevant and cost-effective (Henderson, 2002). The importance of involving women in decisions about their care has long been part of the everyday practice of midwives (Proctor, 1998) , and the importance of communication has been highlighted to me clearly throughout this community study, and through my placement, forcing me to realize how important it is for a midwife to fulfill her role. References: NHS Health Scotland (2004) Greater Shawlands; a community health and well-being profile [Online] Available at: http://www.scotpho.org.uk/nmsruntime/saveasdialog.asp?lID=604sID=1268 [Accessed 16 December 2010] NHS Greater Glasgow, South East Glasgow Community Health and Care Partnership (2006) Health Improvement Plan 2006-07 Draft [Online] Available at: http://library.nhsggc.org.uk/mediaAssets/library/health_improvement_plan_2006-07_south_east_glasgow.pdf [Accessed 20 December 2010] NHS Evidence National Library of Guidelines (2008) Women centered care (position statement) [Online] Available at: http://www.library.nhs.uk/GUIDELINESFINDER/ViewResource.aspx?resID=30150 [Accessed 2 January 2011] Griffin K, Maternity, Gateshead Health NHS (2009) Pregnancy: Weight Matters [Online] Available at: http://www.gatesheadhealth.nhs.uk/patients-visitors/patient-leaflets/documents/Obstetrics/IL206%20Pregnancy%20Weight%20Matters.pdf [Accessed 2 January 2011] Fraser D M Cooper M A eds (2009) Myles Textbook for Midwives 15th ed. Churchill Livingstone, London Nursing Midwifery Council (2008) The code in full [Online] Available at: http://www.nmc-uk.org/aArticle.aspx?ArticleID=3056 [Accessed 2 January 2011] Walsh L V (2001) Midwifery: Community-Based Care During the Childbearing Year Saunders, USA Baston H A Green J M (2002) Community Midwives role perceptions British Journal of Midwifery, Vol 10, No1 Community Councils Glasgow, Arden, Carnwadric, Kennishead Old Darnley (2008) Local history and Geography [Online] Available at: http://www.communitycouncilsglasgow.org.uk/dack/PlainText/PlainText.aspx?SectionId=4bf12ad1-a06e-4f7f-9a24-1f7fc2522504 [Accessed 3 January 2011] Bond J Bond S (1994) Sociology and Health Care (2nd ed), Ch 4, p 70, Churchill Livingstone, Edinburgh Cronk M Flint C (1989) Community Midwifery: A Practical Guide, Ch2, p 9, Heinemann Nursing, Oxford Ewles L Simnett I (1992) Promoting Health: A Practical Guide, (2nd ed), Scutari Press, Middlesex Fuller G, Award Finalist: NHS Greater Glasgow (2005) Complementary Medicine [Online] Available at: http://www.cipd.co.uk/NR/rdonlyres/FAD0C2B3-5901-4AE5-A1B9-4524C770521B/0/pmawrd05nhs.pdf [Accessed 2 January 2011] BBC News Scotland (2009) Glasgow has the worst UK unemployment [Online] Available at: http://news.bbc.co.uk/1/hi/scotland/8000029.stm [Accessed 3 January 2011] Lowry S (1991) Housing and Health, British Medical Journal, London Blackburn C (1991) Poverty and Health, Ch 2, pp32-36, Open University Press, Buckingham Dorling D, BMJ (2009) Unemployment and Health [Online] Available at: http://www.bmj.com/content/338/bmj.b829.full [Accessed 3 January 2011] Houston S M (1999) Multi-professional education programmes in midwifery British Journal of Midwifery, Vol 7 No 1, p 32 NHS Scotland, Midwifery 2020 (2010) Core role of the Midwife Workstream [Online] Available at: http://www.midwifery2020.org/documents/2020/Core_Role.pdf [Accessed 4 January 2011] Homer, C et al. (2000) What do women feel about community based antenatal care? Australian and New Zealand Journal of Public Health, 24, pp. 590-595. Buckley E R (2000) Helping pregnant women stop smoking British Journal of Midwifery, Vol 8 No 10, pp. 101-103 Mcgowan A, Hamilton S, Barnett D, Nsofor M, Proudfoot J Tappin J M (2008) Breathe: The stop smoking service for pregnant women in Glasgow Midwifery 26, e1-e31, Elsevier, Glasgow ASH Scotland, Duffy S (2010) Deaths from smoking in deprived areas double that of affluent [Online] Available at: http://www.ashscotland.org.uk/media/recent-press-releases/deaths-from-smoking-double-in-deprived-areas [Accessed 4 January 2011] BBC News Health (2010) Newborn deaths higher in deprived areas [Online] Available at: http://www.bbc.co.uk/news/health-11899900 [Accessed 4 January 2011] Jarvis M J (2004) Why people smoke British Medical Journal, Vol 328 No 7434 Lewis, G (ed) (2001) Why Mothers Die 1997- 1999: the fifth report of the confidential enquiries into maternal deaths in the United Kingdom. London: RCOD Press Fullerton D (1997) Preventing and reducing the adverse effects of teenage pregnancy. Health Visit 70(5): 197-9 Allen E J (2002) Aims and associations of reducing teenage pregnancy British Journal of Midwfery, Vol 11 No 6, pp.366-367 Salmon D Powell J (1998) Caring for women in poverty: a critical review British Journal of Midwifery, Vol 6 No 2, pp. 108-111 Alderdice F Lynn F (2009) Stress in pregnancy: identifying and supporting women British Joural of Midwifery, Vol 17 No9, p 553 Proctor S (1998) Womens reactions to their experience of maternity care British Journal of Midwifery, Vol 7 No 8, p 492 Henderson C (2002) The public health role of a midwife British Journal of Midwifery, Vol 10 No 5, p 268

The Ethics of Student-Faculty Business Deals :: Argumentative Persuasive Teacher Essays

The Ethics of Student-Faculty Business Deals The Akamai Corporation has meant big money for one Massachusetts Institute of Technology professor and one of his students. Back in 1995, Tom Leighton, a professor of applied mathematics at MIT, started playing around with ways to use complex algorithms to ease congestion on the Web. He enlisted several researchers, including one of his graduate students, Danny Lewin. At the time, they weren't thinking about starting a company. But Mr. Lewin, following the keen instincts of a cash-strapped graduate student, suggested they enter the project in the Sloan School's annual business-plan competition. They won the software category in the preliminary round and then entered the finals, where they finished among the top six. Mr. Leighton and Mr. Lewin were still interested in the technology mainly as an academic exercise, but the possibility that their work could have real-world applications pulled them inevitably into business. They launched Akamai Technologies Inc. in the fall of 1998, and took it public the following October. Opening day saw the stock soar from $26 a share to more than $145, giving the company a day-one market cap of $13.13 billion. This sounds like a great business venture, but there still is a small problem. Mr. Lewin was one of Mr. Leighton's students when they formed the Akamai Company. This brings about the moral question of the case. Should students and professors be allowed to start companies together? Although there is no clear answer, there is widespread agreement among administrators that schools need to address the question. As a result, many M.B.A. programs are in the process of reviewing and, in many cases, implementing policies and guidelines governing student-professor business collaborations. The burden of this moral question falls mostly on professors since student is not an establish profession and thereby has no formal code of ethics. On one side of the issue are those who point to ethical considerations and insist that schools can't tolerate the possibility that students may perceive any conflict of interest on the part of a professor. On the other side are those who've invested substantial time and money in a business-school education specifically to gain access to professors. These people don’t want to consider any restriction on their ability to conduct their business lives as they see fit. Caught in the middle are administrators, who must protect their schools' academic integrity while trying to accommodate students and faculty alike.

The Prince Essay -- essays research papers

â€Å"All the states, all the dominions, under whose authority men have lived in the past and live now have been and are either republics or principalities.† In Machiavelli’s, The Prince, timeless keys to a successful principality are examined. The keys are understanding human nature, respecting that nature, and reaffirming that successful leadership can exist in the same fashion yesterday, today, and tomorrow.   Ã‚  Ã‚  Ã‚  Ã‚  Machiavelli’s perspective of human nature is founded on the principle that people in general don’t want their culture changed by an outside influence. Machiavelli demonstrates in the book that the nature of people is to defend who they are. When â€Å"the prince† attempts to change their culture in any way the subjects will do any number of things to crush this attempt or even change the leadership. If a prince uses force to try to change people this will lead to hostility, because as Machiavellis says, â€Å"they remain, defeated, in their own homes.† This underlying fact will lead to a rebellion of some sort. One way this rebellion can happen is when a powerful foreigner invades the principality. The now â€Å"defeated† people will join this powerful foreigner, in hopes that their culture will now be respected, to dethrone the prince. When the prince tries to use force to control the people it only creates enemies. Machiavelli explains this aspect of human nature when he writes, â€Å"he harms the whole state by billeting his army in different parts of the country, everyone suffers from this annoyance, and everybody is turned into an enemy.† On the contrast if a prince allows the people to keep their customs Machiavelli states that the people will remain content when he writes, â€Å"For the rest, so long as their old ways of life are undisturbed and there is no divergence in customs, men live quietly.† Another natural tendency of people comes with freedom. Once they have had a taste of freedom, they virtually cannot live without it. This feeling of control over one’s life is a quality that once molded is nearly impossible to reshape. Machiavelli asserts this idea when he writes, â€Å"a city used to freedom can be more easily ruled through its own citizens...than in any other way.† The same tendency lies in the control that the prince gains over the people in the principality. Once the prince has control he finds that gi... ...ook† Mao used positive reenforcement to oil the gears of one of the worlds strongest super powers. Mao didn’t try to use force and change the culture in China rather he persuaded the people into having great national pride. This pride enabled Mao to control the people also build a strong military and defend his land. In China Mao did and still today, decades after his death, have a hand in every aspect of Chinese life. Both of these leaders project how timeless Machiavelli’s ideas truly are.   Ã‚  Ã‚  Ã‚  Ã‚  The first rung of the ladder to a successful principality is the understanding of human nature. A nature that values consistency over forced change and an atmosphere of control over one’s self instead of someone blatently controlling another. Through this understanding of human nature can a prince hold his power. Once he holds this power the best way to keep it is by providing defense for the people whom he has power over. These ideas were present in the infamous reigns of Hitler and Mao. Machiavelli is correct there are either principalities or republics, and I have come to the conclusion I prefer the latter.   Ã‚  Ã‚  Ã‚  Ã‚   The Prince Essay -- essays research papers â€Å"All the states, all the dominions, under whose authority men have lived in the past and live now have been and are either republics or principalities.† In Machiavelli’s, The Prince, timeless keys to a successful principality are examined. The keys are understanding human nature, respecting that nature, and reaffirming that successful leadership can exist in the same fashion yesterday, today, and tomorrow.   Ã‚  Ã‚  Ã‚  Ã‚  Machiavelli’s perspective of human nature is founded on the principle that people in general don’t want their culture changed by an outside influence. Machiavelli demonstrates in the book that the nature of people is to defend who they are. When â€Å"the prince† attempts to change their culture in any way the subjects will do any number of things to crush this attempt or even change the leadership. If a prince uses force to try to change people this will lead to hostility, because as Machiavellis says, â€Å"they remain, defeated, in their own homes.† This underlying fact will lead to a rebellion of some sort. One way this rebellion can happen is when a powerful foreigner invades the principality. The now â€Å"defeated† people will join this powerful foreigner, in hopes that their culture will now be respected, to dethrone the prince. When the prince tries to use force to control the people it only creates enemies. Machiavelli explains this aspect of human nature when he writes, â€Å"he harms the whole state by billeting his army in different parts of the country, everyone suffers from this annoyance, and everybody is turned into an enemy.† On the contrast if a prince allows the people to keep their customs Machiavelli states that the people will remain content when he writes, â€Å"For the rest, so long as their old ways of life are undisturbed and there is no divergence in customs, men live quietly.† Another natural tendency of people comes with freedom. Once they have had a taste of freedom, they virtually cannot live without it. This feeling of control over one’s life is a quality that once molded is nearly impossible to reshape. Machiavelli asserts this idea when he writes, â€Å"a city used to freedom can be more easily ruled through its own citizens...than in any other way.† The same tendency lies in the control that the prince gains over the people in the principality. Once the prince has control he finds that gi... ...ook† Mao used positive reenforcement to oil the gears of one of the worlds strongest super powers. Mao didn’t try to use force and change the culture in China rather he persuaded the people into having great national pride. This pride enabled Mao to control the people also build a strong military and defend his land. In China Mao did and still today, decades after his death, have a hand in every aspect of Chinese life. Both of these leaders project how timeless Machiavelli’s ideas truly are.   Ã‚  Ã‚  Ã‚  Ã‚  The first rung of the ladder to a successful principality is the understanding of human nature. A nature that values consistency over forced change and an atmosphere of control over one’s self instead of someone blatently controlling another. Through this understanding of human nature can a prince hold his power. Once he holds this power the best way to keep it is by providing defense for the people whom he has power over. These ideas were present in the infamous reigns of Hitler and Mao. Machiavelli is correct there are either principalities or republics, and I have come to the conclusion I prefer the latter.   Ã‚  Ã‚  Ã‚  Ã‚  

Difference between Nominal GDP and Real GDP

The Gross Domestic Product (GDP) of a country is the value in the market of all goods and services produced in a certain area or a certain country within a certain period of time (Investopedia. com). It is usually used to measure the size of the country’s economy. However, there are other aspects that should be considered in the measurement of the country’s GDP. This is where the Nominal and Real GDP comes in. The Nominal GDP is gross domestic product in that year’s prices (Investorwords.com).For example, the GDP of 2006 is dependent on the value of the dollar in 2006. It is not affected by other factors like inflation rates and others that would tend to decrease the actual GDP. Nominal GDP on the other hand, may increase due to the increased output of an economy, or when the prices in that economy have also increased. However, Nominal GDP may not be that useful as a gauge of the country’s production, since it is not affected by the actuality of the curren t inflation rates.Because of this, the Real GDP is a much preferred measure. The Real Gross Domestic Product on the other hand, is defined as the number that results from computing all the productive activity within the country depending on that certain year’s prices (FX Words). But when what is being valued is the economic activity of more than one period of time, and then the purchasing power will be computed and compared.Because of this, the effects of the inflation at that year should be removed by maintaining constant prices. This usually lowers the computed GDP value instead of increasing it like the effect in Nominal GDP. It is the nominal GDP stated in the base-year level of price, wherein it is the nominal GDP of a certain year adjusted for inflation. The Real GDP is being expressed as a percentage.

Retailing businesses Essay

Different retailing businesses have very different distribution methods based on the types of product that they sell, some arguably more effectively than others. As mentioned in an earlier assignment, there are three main types of distribution channels. The first is the channel that goes from the producer, then to the wholesaler, then to the retailer or sells to the consumer. The second channel starts with the producer who sells straight to the retailer, who then sells to the consumer. The third channel goes directly from the producer to the consumer. Channels one and two are classed as indirect marketing channels, whereas channel three is a direct marketing channel as it goes straight from producer to consumer. All of the distribution channels start with a producer who will create the products, for example the person that milks the cows to get milk. For the first channel, the producer makes the product and then sells it to a wholesaler, such as Costsco who will purchase a huge quantity of products from them. They would do this to make sure that they have enough to sell onto retailers. They would keep a large amount of the product, for example some kind of confectionary, in there warehouse so they’re in a suitable environment to be kept until they’re sold on. Next, the retailer, who could be a small store or a larger store, who would want to purchase a specific amount of products from the wholesalers, not in as bulk form as the wholesaler would have purchased them in. This method would typically be used by used by smaller, more personal stores, that don’t need to buy in such bulk. This channel is effective for confectionary products for example, as Costco can get sweets such as Dairy Milk bars, or Skittles, at an incredibly low price for huge boxes. It is good because it means that the businesses further down the chain will have confidence that they will be able to get the products that they want because the wholesaler gets the items I such bulk and if they sell all of their products, they can replenish easily. For the second channel, the retailer can give their consumers a guarantee that the product is fresher than if they used channel one, as they are getting the product directly from the producer before selling it to the consumer. This is because companies get the products directly from producers so they can guarantee the quality, unlike the first channel where the products go through two separate distributors which could contaminate the product or  raise the risk of it being damaged. An example of this would be the electronics company Sony. Due to the fact that Sony produces their own products and then sells them onto other electronic stores such as Currys/PC World who will then sell the products onto the consumers. The third Channel will typically deal with the consumer directly rather than using a middleman. This means that the customer will get the product or service at that moment on purchase. An example of this could be seen with Gregg’s Bakery. Due to the fact they will have their products made on site and would be able to sell their customers everything they have produced in store without using other stores ford or bringing in any assistance. By doing this it gives Greggs a better look by being able to say that they produce all of their products on site and they can also guarantee that the products are fresh. Different sectors of business will use different techniques when going through the distribution stage differently. This can be from the difference of storing products whilst distributing them and how they actually transport the product to the next person in the channel. For example, how a food retailer and gets their products distributed will be different to how a clothing sto re gets theirs. For a restaurant they use a wide variety of produces such as local farmers and local fishermen, depending on the type of restaurant that they own. They could have very specific producers, for example if they were a halal based restaurant they would have to be very specific about their supplier. Then they will have to either make a deal with the producer/supplier so they can collect produce direct from them. Then they will prepare the food ready to cook it and will store the prepared ingredients safely at the correct temperature. They will then wait for the person at the end of the chain – the consumer – to come to the restaurant to cook it for them. This is good for the producer because money will track back to them through the restaurant gaining the money from selling the meals. The money goes into the restaurant from customers pockets, and then the restaurant will use a portion of this money to re-purchase some supplies from the producer. This is when a good working relationship will develop between them as they will gain more sales and earn more money back. Continuing with a food retailer, Greggs or a restaurant will want to get fresher ingredients than other retailers so that they can make sure they produce all of their products to be as fresh as can be. This  can be done for example by Gregg’s own in-store bakeries having their ingredients delivered in the morning and then they bake them the same morning to make sure they are as fresh as possible. When they order the ingredients from the producers they will have to check that the supplier is storing the produce correctly before purchasing, otherwise they may purchase products that could be unsuitable for them to use and if they did use them, could create problems for them in the future. A good example of this could be seen with restaurants purchasing fish. A lot of the time they would send an employee to get it directly after it has been caught on the boat . They do this so that there are no issues with how the fish is stored, as if it is stored incorrectly whilst distributed it will cause severe food poisoning and could lead to the restaurant getting sued or shut down. A clothing retailer will start the process from the producer then they will involve the their designers and then they would create the products. If the retailer manufactures their own brand clothing for example Primark the producers send the finished garments directly to their warehouses fir distribution into their stores. If it is a clothing retailer that buys garments from fashion houses or via intermediaries then the finished items would go to their wholesalers and then potentially go to retailers depending on what business it is and then finally, they would be bought by the consumers. They would start the process by collecting the cotton from the cotton farmers then they would be shipped off to the factories where weavers and designers will create the fabrics, the fabric factories will then sell them to clothing manufacturing companies who will create something that retailers can sell on to make a profit from the whole process. When they have been created they will choose either to sell them onto a wholesaler or to only sell it in their particular stores. With some businesses having stores in other countries it means they have to have all of their products send to one area then they will have to have those products sent to other stores across to other countries, extending the distribution channels. A retail business such as House of Fraser will be using the second channel. This means that they will get their clothing material/parts sent to them and then thy will create their products, and then send them to their retail stores. Because they have a large area inside their stores to store and display their stock it means they can have a large amount of one clothing item on sale at once. Because  House of Fraser is a bigger company than Greggs they will be using more trucks to get their products to them. Another difference between the two would be that House of Fraser will be able to store their products for a longer period of time due to them selling the non-perishable products unlike Greggs, who make the majority of their products on a daily basis and at the end of the day would have to throw those products away otherwise they would go off. In terms of cost, a restaurant will be willing to spend money in order to get products distributed to them in a safe and hygienic way, as long as they know the full process that the products take. For other businesses, such as Primark, the aim is to get them distributed to them at a very low cost, as long as the products aren’t damaged. This is because the products aren’t perishable and there is no need to store them in any specific way to keep them secure.

Louise Bourgeois Essay

Much can be learned from the environment within which we live. What we see tells a lot about the society in which we live: belief system; politics; economic undertakings; kinship and material culture among others. Through material culture, we can get insight into the world that existed long before us. Culture can be defined as the way of life of people depicting their shared experiences, political and religious beliefs, technology, insights, attitudes, and material objects. (Li & Karakowsky) The sublime can be defined as the priced greatness or vast intensity in terms of biological, moral, mental, metaphysical, beauty, art or religion. Sublime is experienced over and over. It is embedded in our history, being, values, thoughts, concepts, world views, beliefs, and is responsible for our personalities (Bernadac 2007 p20) Main Body One of America’s renowned artist and sculptor, Louise Bourgeois, managed to capture the American Sublime through her artistic undertaking. She was born in Paris, France in December 25, 1911 but traveled to America in 1938 to perfect her artistic endeavor. She studied mathematics at the Sorbonne, and painting and sculpture in Ecole du Louvre, Ecole des Beaux-Arts, and Art Students League of New York. She worked as an assistant to Fernand Henri Leger- a French sculptor, painter, and film maker. She is popular for her work that depicts spiders, sculptures, drawings and literary work (National Gallery of Canada 2005 p16). As a way of depicting the society in which she was living, Bourgeois’ work is full of inanimate images of horrifying fear, ghosts, darkness, tortured people, and disabling mental illness to attempt to get at the source of these emotions and to uphold normality even in times of chaos. Her works helped depict the intellectual climate, social and historical conditions that existed then. (Gorovoy et al 2006 pp 27 -28) She captured the effects of the First World War through carving limbless sculptures and detached limbs and had most of his paintings and sculptures painted black to depict death and mourning, (Gorovoy et al 2006 p 24) e. g. the two headless fabric bodies attempting to make love shown below. She depicts the revolution of the western politics, largely constructivism, through posters that expressed sympathy towards the Russian regime which she displayed in Moscow. The Tate Modern exhibition catalogue indicates her inclination towards Communism. Bourgeois made abstract art pieces that reflected on her childhood experiences showing how relationships within the family were entwined together thus bringing in the aspect of kinship, socialization and acculturation. This depicts how her art gives us insight to how children were brought up back then. (Lippard 2003 pp 9-10) Her Femme Maison and Fallen woman series introduced the aspect of liberation of women. They depicted a female struggling to outgrow some house like structures within which she is trapped – that is attempting to outgrow the masculinity into which the women were entrapped. She depicts a rebellion against the negative masculinity through her work, The Destruction of a Father, in which rock figures surround a sacrificial slab full of butchered body parts. Thus: It has been suggested that her sculpture, The Blind Leading the Blind, has a religious connotation. According to Desmond Michael and Lloyd Michael (1870-1970) Bourgeois, inspired by the Cold War, made this sculpture and that the title was picked from the New Testament verse (Matthew 15:14) that describes how a blind man leading another blind man would end up in a ditch. The structure is shown below (Bernadac 2007) Bourgeois’ contribution to the American Sublime is best captured in New York’s Guggenheim Museum, the Centre Pompidou in Paris and London’s Tate Modern with their massive collection of her art work. In conclusion, the American Sublime has been captured through art in poetry, carvings, paintings, songs, books, and which take us back to the origins of the cultures of past American societies. Just like the origins of the American sublime can be traced through studying works of art, similarly, so can we understand much about its revolution from the contemporary art works. Louise Bourgeois has managed to get this through her sculptures, drawings and works of art – reflecting abstract as well as tangible aspects of living that relate to feelings, political standing, material culture, religious inclination, beliefs and kinship. References Bernadac, M (2007) â€Å"Louise Bourgeois† Rizzoli International North America pp 18 – 24 Gorovoy, J. , Carver R. & Read C. (2006) â€Å"Louise Bourgeois† Bellport Press University of Michigan pp 21-35 Lippard R (2003) â€Å"Overlay: contemporary art and the art of prehistory† Pantheon Books NY pp 7-16 National Gallery of Canada (2005) â€Å"Louise Bourgeois Maman† National Gallery Canada press pp 14-17

Graduation Speech

First of all, I would like to thank you all for coming to our graduation. What this ceremony is, is a celebration of a major accomplishment in our lives, the accomplishment of achieving an education. For many of us it has taken a lot of blood, sweat, and tears to get here, so today is our reward for the long hours we devoted to reading, writing, and researching, for the stress of taking difficult tests, and for the difficulties we have had to overcome. Though this ceremony recognizes OUR efforts in this accomplishment, it also recognizes and pays homage to the dedication of our parents. Today is the return on the work they invested in us through patient teaching and parenting. We would not have been able to accomplish this much without their help. Their guidance has allowed us to grow into men and woman of character, capable of doing great things. This ceremony is also both an end, and a beginning. It is the end of childhood, of a period of growing and maturing. But, it is also the beginning of a new chapter in our lives, one that is full of the promise of what we may accomplish. While I have the time I want to address the accomplishments of the past as well as the promise and potential of the future. Graduating is our accomplishment, but we wouldn’t have made it here if it wasn’t for the heroic efforts of our parents. They are the ones who chose to add to their titles of parent, homemaker, and provider, the title of teacher, and with that the responsibility of educating us. They voluntarily took on this extra responsibility, because they felt that personally seeing to our education was best for us, so at the expense of their free time, and perhaps just a bit of their sanity, they decided to home school us. It was this dedication to giving us the best education possible that has brought us here. Whenever we struggled in school, whenever we didn’t understand, they did what it took to help us learn, usually, that meant spending even more of the precious little free time they had not already sacrificed to homeschooling, to teaching and relearning every subject that they hated to do when they were in school. When we were frustrated and on the verge of throwing our textbooks across the room, they where the ones who came and spoke the encouraging words that motivated us to overcome whatever trouble we encountered. As our teachers, they taught us much, but as our parents they taught us even more. Along with giving us lessons in math and science, they have constantly taught us lessons in values. By their example, we have learned to walk with integrity and faith, showing character in all that we do. They have shown us that there is no limit to what we can accomplish when we work diligently and patiently. These values will stay with us longer than anything else that we have learned. No matter where we go, no matter what we do, they will be there to help guide us. With graduation ends our journey through high school. For many of us, it’s been a long, rough road to get here. Difficulties have come in the form of poor health and injury. Some of us have struggled financially, and all of us have faced the pressure of difficult classes. These trials have not made us bitter, they have not crushed our spirit, but they have helped shape us. Often it turns out that difficulty, strife, and stress are ingredients of strength, for instance steel is one of the most reliable and durable materials known to man. To make steel, iron ore is heated to a temperature of over one-thousand degrees Celsius, but because of that incredible heat, it becomes strong. It can then be made into almost anything: bridges, skyscrapers, ships, airplanes, tools, machines, even works of art. From the incredible heat it is subjected to, it gains the strength that allows it to be used to anything. The challenges we have faced have strengthened us like the heat strengthens steel. From our adversity, we have learned to overcome, to meet hardship with hard work, hopelessness with faith, and to be unyielding in all of our values. Now we stand here, as adults preparing to walk out into the world, ready to shape our future, and no matter what path we take in life I know that we will never forget the life lessons that have been taught to us, they will enable us to be successful in all of our endeavors. We are ready to become students with an open mind and a hunger for knowledge, pursuing truth with the aid of the wisdom and discernment impressed upon us by our parent’s teachings, or to become workers ready to excel at our jobs because of the examples set before us in diligence and discipline by our parents and role models. Yes, for us the future looks bright! Graduation Speech First of all, I would like to thank you all for coming to our graduation. What this ceremony is, is a celebration of a major accomplishment in our lives, the accomplishment of achieving an education. For many of us it has taken a lot of blood, sweat, and tears to get here, so today is our reward for the long hours we devoted to reading, writing, and researching, for the stress of taking difficult tests, and for the difficulties we have had to overcome. Though this ceremony recognizes OUR efforts in this accomplishment, it also recognizes and pays homage to the dedication of our parents. Today is the return on the work they invested in us through patient teaching and parenting. We would not have been able to accomplish this much without their help. Their guidance has allowed us to grow into men and woman of character, capable of doing great things. This ceremony is also both an end, and a beginning. It is the end of childhood, of a period of growing and maturing. But, it is also the beginning of a new chapter in our lives, one that is full of the promise of what we may accomplish. While I have the time I want to address the accomplishments of the past as well as the promise and potential of the future. Graduating is our accomplishment, but we wouldn’t have made it here if it wasn’t for the heroic efforts of our parents. They are the ones who chose to add to their titles of parent, homemaker, and provider, the title of teacher, and with that the responsibility of educating us. They voluntarily took on this extra responsibility, because they felt that personally seeing to our education was best for us, so at the expense of their free time, and perhaps just a bit of their sanity, they decided to home school us. It was this dedication to giving us the best education possible that has brought us here. Whenever we struggled in school, whenever we didn’t understand, they did what it took to help us learn, usually, that meant spending even more of the precious little free time they had not already sacrificed to homeschooling, to teaching and relearning every subject that they hated to do when they were in school. When we were frustrated and on the verge of throwing our textbooks across the room, they where the ones who came and spoke the encouraging words that motivated us to overcome whatever trouble we encountered. As our teachers, they taught us much, but as our parents they taught us even more. Along with giving us lessons in math and science, they have constantly taught us lessons in values. By their example, we have learned to walk with integrity and faith, showing character in all that we do. They have shown us that there is no limit to what we can accomplish when we work diligently and patiently. These values will stay with us longer than anything else that we have learned. No matter where we go, no matter what we do, they will be there to help guide us. With graduation ends our journey through high school. For many of us, it’s been a long, rough road to get here. Difficulties have come in the form of poor health and injury. Some of us have struggled financially, and all of us have faced the pressure of difficult classes. These trials have not made us bitter, they have not crushed our spirit, but they have helped shape us. Often it turns out that difficulty, strife, and stress are ingredients of strength, for instance steel is one of the most reliable and durable materials known to man. To make steel, iron ore is heated to a temperature of over one-thousand degrees Celsius, but because of that incredible heat, it becomes strong. It can then be made into almost anything: bridges, skyscrapers, ships, airplanes, tools, machines, even works of art. From the incredible heat it is subjected to, it gains the strength that allows it to be used to anything. The challenges we have faced have strengthened us like the heat strengthens steel. From our adversity, we have learned to overcome, to meet hardship with hard work, hopelessness with faith, and to be unyielding in all of our values. Now we stand here, as adults preparing to walk out into the world, ready to shape our future, and no matter what path we take in life I know that we will never forget the life lessons that have been taught to us, they will enable us to be successful in all of our endeavors. We are ready to become students with an open mind and a hunger for knowledge, pursuing truth with the aid of the wisdom and discernment impressed upon us by our parent’s teachings, or to become workers ready to excel at our jobs because of the examples set before us in diligence and discipline by our parents and role models. Yes, for us the future looks bright!

Acid test ratio vs current ratio

The Current ratio and the Acid-test ratio, both fall under the category of financial ratios.   These two ratios examine the capability of an organization to pay those creditors, whose debts are below the stipulated period of twelve months.   Such short-term debts usually consist of 30 or 60 days credit period.   Indeed under the two ratios the Current Liabilities are considered as the debt to be covered by the assets considered on the numerator of the ratio. The higher these ratios, the better are the financial position of the firm.   However, a number of factors have to be considered by both ratios before remarking on the financial position of the company.   For instance, one has to consider the nature of the business and the effect of seasonal variations before giving drastic conclusions.   In fact, such ratios are frequently examined by analyzing the financial position of the same organization over time or in relation to the industry average in which the firm operates. The main difference that lies between these ratios is the analyses of the liquidity of the current assets taken.   Under the current ratio, all the current assets of the firm are considered in the formula.   However, the acid-test ratio examines the assets that can be easily converted into cash in relation to the current liabilities of the firm.   As a result, the stock value, which is the least liquid asset, is deducted from the current assets in this ratio. Under these ratios, the short-term assets are divided by the current liabilities in order to see by how many times can such assets cover these liabilities.   For instance, if at the financial year ended 31st December 2006 a firm had a total current assets of $200,000, and the current liabilities added up to $100,000, the current ratio would be calculated as follows: This result indicates that the current assets of the firm can meet by two times as much the present current obligations of the organization.   The same principle applies for the acid-test ratio with the exception that stock is removed from the current assets as already stated in the previous paragraph.

Fraud Fears in Internet Banking 1.Introduction Dissertation

Fraud Fears in Internet Banking 1.Introduction - Dissertation Example Banking industry is no different; banking operations and processes have become more accessible and convenient for the customers due to the introduction of internet banking. Banking operations are no longer restricted to the limited business hours of the bank, rather can be done at any time via the internet. However, this technology has also proved to make customers’ details and intellectual assets of the companies vulnerable in the presence of increasing security threats from hackers and intruders. Internet frauds related to the banking sector have become major concerns for customers around the world. Some of the most common online banking frauds have been discussed in the paper, along with the discussion of few real life instances of such crimes. 2. Internet Banking Internet banking offers a wide range of activities like balance inquiries, transfer of accounts etc. The acquisition and transfer of customer details and information on the internet makes the whole process vulnerable, along with the presence of internet scams that aim to steal the information of customers. Financial institutions have suffered great losses over the years by becoming victims of malicious activities of cyber criminals. Cicutti (2008) quoted the results of a research study by Association of Payment Clearing Services (Apacs); it concluded that instances of ‘cardholder not present’ are increasing around 37% after every year. The losses reached to an enormous amount of ?290m in 2007. These figures include fraudulent attempts via the internet, mail and phone. Few other figures have been reported by Financial Fraud Action UK in Sky News (2009); it pointed out that only first half of 2009 marked a 55% increase in the rate of internet banking frauds with the figur e of ?390m as compared to the figures for the year 2008. The alarming increment of internet banking crimes denote that the cyber criminals are getting more technology savvy who are adopting innovative technologies to overcome the security measures of the financial institutions to violate the privacy of the customers’ data. Internet banking has been widely accepted by customers due to its convenience. Spam Laws (2009) stated that around 45% of the 141 million grownups in US opt for online payment of their bills. Along with convenience, comes a huge price for the customers who prefer online banking. Spam Laws (2009) also provided the information that around 2 million Americans became victims of fraudulent actions in the year 2004, where customers were reported to suffer losses of around $1, 200 on average at every instance of fraud. After the analysis of the findings, it was concluded that the increasing number of fraudulent actions were known to have the source as online banki ng. 2.1 Types of Internet Frauds There are numerous types of internet banking frauds. Few of the most common ones have been discussed below: 2.1.1 Phishing/ Scam Emails The concept of phishing originates from two words; password and fishing. Zin andYunos (2005) explained that this technique is used to retrieve customer’s bank details by making the activity look like a regular procedure from his respective bank. Several types of information may be aimed to be extracted by the user, such as social security numbers, online banking credentials, credit card numbers etc. The sender might pose to be a bank officer who wants to update the customer’s data in the bank database. Recipients might reply to such emails with the understanding that it is a

Finance Concepts Assignment Example | Topics and Well Written Essays - 1000 words

Finance Concepts - Assignment Example If the estimated life of this project is 5 years and the Required Rate of Return is 10%, then we can also calculate the NPV of this project. If the NPV is also a positive value then we can safely estimate that this project will carry a good return, and the initial investment would be covered in 5 years. (Shim & Siegel, 2000). 2. Whenever one wants to finance a business, he can go for either debt or equity financing. Debt Financing carries lots of advantages and disadvantages. The major advantage of this form of financing is that you do not lose the ownership of your company. The lender also does not have any sort of share in the future business profits. Moreover, the interest on debt is deductible on the tax’s returns, hence reducing the actual cost of loan to the company. Finally, in the case of debt financing the company is not entitled to send their annual reports to various stakeholders. However there is always another side of a coin. Debt Financing carries the disadvantag e of at being repaid at some point in time. The interest cost can be very risky for a company, especially at the times of financial crisis. Other than that the collateral the company pledges against the loan can put extra pressure on the owner of a small venture. There is a reason why companies choose to invest in stock rather than bonds. The investment in bonds carries lower returns than stocks. Even though it is less risky, the return on stocks can be much more appealing. Investors can, in certain situations lose money on bonds, if they sell a bond when the price is lower from when they purchased it. The higher inflation rates over the investment return on bonds will hurt the purchasing power of the money the investors have (Petch, n.d.). 3. In the field of finance there is an important concept of risk-return trade-off. There is a general idea that prevails, the higher the risk the greater the return would be for an investment. The balance of the risk-return trade-offs, is hence a key factor in designing a proper financial and investment plan. Let us take an example of investment in stocks. In the case of a speculative stock because of its high risk, as an investor, you will expect a higher return. The same is the case with the working capital management. If you keep a lower inventory, there is a risk of running out of stock and hence you expect a larger return out of it (Shim & Siegel, 2000). 4. In finance, a Beta measures how volatile any security is to the market average. In layman terms, it measures the return of a security in a certain time period in relation to the overall market. Let us take an example, if a company has a beta of 2.0 in due time, this would mean that if the stock market would increase by 10%, our company’s stock will increase twice fold i.e. by 20% and vice versa. If the company has a 0 beta that means it is not affected by the market. A 0.5 beta would mean the company’s stock is half as volatile as the market, while a 1 beta would show that the company is as volatile as the market (Shim & Siegel, 2000). 5. When a risk occurs due to non-probabilistic events and not by pure chance, it is classified as