The Leadership Of A Leadership Position - 1183 Words

When in a leadership position one must understand how influential they are to an organization. Their guidance and leadership will be a determining factor to the success of the organization. The leadership skills and style are key components that dictate the performance and action of the employees under that leadership. As a leaders it is important to know what you have control over. Leaders control both interpersonal and material rewards and punishments that often shape employee behavior and influence an employee’s performance, motivation, and attitude. They can affect an employee’s self-image and resulting potential in either a positive or negative way by being supportive, fair, and encouraging, or unsupportive, inconsistent, and critical. In addition, they can even affect an employee’s health and energy level by creating a stimulating work climate or one filled with tension and fear. The influence of a leader’s style reaches greater proportions as the ef fects on individuals begin to have a cumulative effect on group performance. There are no doubt variables other than a leader’s style that affect employee performance and satisfaction. Certainly, job challenge and interest, organizational working conditions and work climate, opportunities for growth and advancement, and peer relations among other factors should be considered. However, the potential consequences of a leader’s style should be understood and not be underestimated. In this document I will identify anShow MoreRelatedLeadership Is Not A Position1819 Words   |  8 Pagesohn C. Maxwell once said, â€Å"A leader is someone who knows the way, goes the way and shows the way.† Leadership is not a position, a title or being the boss, it’s about creating leaders amongst your followers. My point of view on leadership comes from a perfect example in the New Testament â€Å"Jesus Christ.† In Matthew 4:18-22, Jesus choose his first disciples. They had one thing in common, they were all fishermen (skills approach). Then, that strong foundation lead to the calling of those of a differentRead MoreMy Leadership As A Position Of Leadership1830 Words   |  8 PagesThe ways in which my leadership strengths are capable of being used within in organization had never been something that I had thought about prior to the strength finder activity. For me a position of leadership had always been a potential future responsibility of mine. However, upon taking the strength finder quiz, three of the results that I received were developer, connectedness and learner, and I began to see how I could use these in my work upon graduation. The future of the way in which individualsRead MoreEthics And Position Of Leadership Position Essay1400 Words   |  6 PagesEthics in Position of Leadership Position There is a wide range of careers available in the market and choosing the right career path is really important. There are many factors that help you decide a career and some of them are your skills, interest, personality, qualifications, etc. Based on my skills and interest I want to be a Financial Controller. With the growing marine business, I want to be a Financial Controller of MacGregor USA Inc., an engineering solution and services company that handlesRead MoreLeadership As A Position Of Power1325 Words   |  6 PagesLeadership may be defined as a position of power held by an individual in a group, which provides him with an opportunity to exercise interpersonal influence on a group of members for the direction of their efforts toward a common goal. Leadership is also a position of power held by a group or individual (Chand, n.d.). There are several styles of leadership that must be reflected upon before an organizational manager can develop their own style. Models of leadership have been developed to assistRead MoreTraining For A Leadership Position1523 Words   |  7 PagesBackground Information Assistant prosecutor Johnson and assistant prosecutor Norris are both high-ranking assistant prosecutors. They both have different views on the value of experience in relation to training for a leadership position. They are looking to secure the chief prosecutor s position in Macon County, South Carolina. â€Å"Assistant prosecutor Norris has been a member of the Macon County Prosecutor s Office for 30 years. Norris joined the prosecutor s office straight out of law school, and he hasRead MoreLeadership As A Position Of Power1545 Words   |  7 PagesLeadership may be defined as a position of power held by an individual in a group, which provides him with an opportunity to exercise interpersonal influence on a group of members for the direction of their efforts toward a common goal. Leadership is also a position of power held by a group or individual (Chand, n.d.). There are several styles of leadership that must be reflected upon before an organizational manager can develop the ir own style. Models of leadership have been developed to assistRead MoreLeadership As A Position Of Power And Authority1499 Words   |  6 PagesLeadership in Nursing Practice What do you think of when you hear the word leadership? I think of someone who is in a position of power and is leading everyone to a better future. That could be considered a little idealistic, but it is a pleasant thought. Now we all know a leader is someone who leads people to complete sets of common goals and tasks. Leaders are everywhere. They are doing everyday things and seeing everyday people, but they are leaders in their profession, and that includes nursingRead MoreMy Leadership Position At Birmingham927 Words   |  4 PagesIn my career I have held multiple leadership positions. My first leadership position with my organization came as a Supervisor of Customer Service in Birmingham, about four years ago. I was charged with leading a group of service mechanics who did work inside customers’ homes. Also within my organization, I was given the opportunity to be the Diversity Council Chairman where I was tasked to lead a diverse group of employees in unifying our work force. As stated by Kutz (2016), â€Å"a leader is someoneRead MoreLeadership Is Not A Position Or Big Office1128 Words   |  5 PagesLeadership is not a position or big office. It does not mean to own expensive office leather furniture. It is not driving a BMW or wearing a Rolex. The leader is a source of inspiration. The Leadership is a magic Leadership has nothing to do with seniority or one’s position in the hierarchy of a company. Leadership has nothing to do with titles. Leadership isn’t management. Leadership is a process of social influence, which maximizes the efforts of others, towards the achievement of a goal(Read MoreApplication Of An Executive Leadership Position916 Words   |  4 PagesTo obtain an executive leadership position that engages my 25 years of diverse experience and knowledge to advance a company towards its principal goals through; leadership, team development, effective management, cost control and, a personal accountability and co ntinuous improvement philosophy. PERSONAL PROFILE Management professional with superior analytical skills to evaluate manufacturing and service organizations and, design organizational/operational control systems to drive continuous improvement

Essay about Different Learning Styles - 2633 Words

Different Learning Styles Introduction What is learning? According to the thesaurus in the Eric database, learning is the â€Å"process of acquiring knowledge, attitudes, or skills from study, instruction, or experience† (Eric/Thesaurus database, 2001). A learning style is described as â€Å"a set of factors, behaviors and attitudes that facilitate learning for and individual in a given situation† (Reiff, 1992, p.7). There are many different ways that children learn. The purpose of this paper is to explain the different learning styles that students may possess and to discuss the importance of planning a lesson that includes different techniques to meet the needs of individual learners. These different learning styles may include the show†¦show more content†¦They like to learn because it interests them. These children are not as physically active as some of the other types of learners (WEAC, 2001). Seer and Feelers The second type of learner is the seer and feeler. These types of children learn best through example. They like to touch and feel what they are doing. These children are very hands on. This type of learner also asks many questions. They are curious about everything. This type of child does not work well alone. They prefer to work in small groups that interact together to accomplish a task. This type of child is also very empathetic (WEAC, 2001). Leader of the Packs The next type of learner would be described as the leader of the pack. These children are the leaders in the classroom. They teach everyone by example. This type of learner enjoys being the center of attention because it is what they do best. The leaders of the pack have a very good speaking vocabulary and are great communicators. This type of child is physically active and very popular. The problem with these learners is that they might have a hard time learning to read and write (WEAC, 2001). Verbal Gymnasts Then, we have the verbal gymnasts. These children will talk you ear off. Their speech and vocabulary remind you of an adult’s. They speak logically and clearly. These children are very good at communicating with their friends and the adults that surroundShow MoreRelatedDifferent Learning Styles1314 Words   |  6 PagesDifferent Learning styles commonly Used by the PNTC marine Transportation students A thesis presented to the Under graduate studies PNTC Colleges In partial fulfillment Of the requirement for The research amp; thesis writing By: J’Bryan G. Santiago Ronkiel R. Serrano Dennis L. Garan Rod Carlo D. Agpalo Reggie Eridio Chapter I A. Introduction According to Kolb’s (1984) many people recognize that each person prefers different learning styles and techniques. Learning styles groupRead MoreLearning Styles By Different Types Of Learning949 Words   |  4 PagesLearning is a very important thing in our life. Every day a person learns new things until the end of their life. People cannot stop the learning and everyone starts learning from childhood. For example, when the baby born, they learn about suck, eat, crawl and walk, and then they develop into children and their bodies ready to learn more than one form of thinking it includes personality, senses, feelings and values. A.K., Whiren, AP. (2004). The VARK learning Styles tell that everyone has a differentRead MoreDifferent Aspects Of Learning Styles1003 Words   |  5 PagesAs I researched the different learning styles I came across three evaluations that seem to each express different aspects of the learning styles that applied to myself. Each of these evaluations gave me slightly different results, nonetheless were effective and educational. All three of the assessments are practical information to use as an adult learner and to also just have under one’s belt to incorporate with everyday life. The first test was the multiple intelligence assessment that was presentedRead MoreDifferent Learning Styles: Learning about Learning Essay1799 Words   |  8 PagesThere are many people in the world, but only three key learning styles. Learning styles can be defined as a preferred way of acquiring knowledge and processing information. A learning style affects understanding, solving problems, participating in different acti vities, reacting in a group, and relating to others around us. Most individuals have a dominant learning style. There are many varieties of learning styles, but they are categorized into three main groups: auditory, visual, and kinestheticRead MoreDifferent Styles Of Learning And Visual Learner984 Words   |  4 PagesThere are different styles of learning, from kinesthetic to visual to auditory. Each style of learning vastly different from the other. People find it easier sometimes to learn using one method yet there are those who can learn from more than one method if not all just as easily. By knowing an individual’s preferred style of learning finding the ideal learning environment can be achieved. One example would be that a person keen to learning through auditory means would probably find it difficult toRead MorePeople Have Different Learning Style851 Words   |  4 Pages People have different learning style. According to the VAK Learning Style Indicators, my learni ng style is quite not clear which is tend to be physical but very close to visual and auditory. Because of in university or college even high school in some cases is very stressful. Student live in a very intensive environment, so it is very significant to let the student know what their learning style is. Let them concentrate on using the learning style that they good at. So, I am going to introduce myRead MoreDifferent Theories About Learning Styles Essay2112 Words   |  9 PagesIntroduction Learning style is an individual s unique approach to learning based on strengths, weaknesses, and, preferences. Learning styles explains the concept that every person learns differently. Assessments of learning style typically ask individuals to evaluate what sort of information presentation they prefer, and, what kind of mental activity they find most engaging, and, attractive for them. Theories about learning styles agree that all people can be classified according to their style of learningRead MoreExplore the different learning theories and learning styles Essay865 Words   |  4 PagesTrident University Explore the different learning theories and learning styles TUX101- The Trident University Experience 17 February 2013 Introduction For this case study assignment, I will be writing about what Visual, Aural, Read/write, and Kinesthetic (VARK) learning style or styles I have and how it relates to two different learning theories. I will also be discussing how my identified VARK learning style or styles will affect my online educational pursuit. Read MoreEssay on Accommodating Different Learning Styles in the Classroom1802 Words   |  8 PagesAccommodating Different Learning Styles in the Classroom â€Å"Learning styles.† What are learning styles? Various researchers have created different tools that categorize the way people acquire and retain information. Some of these include Gardner’s multiple intelligences, McCarthy’s 4-Mat System, and the Myers-Briggs personality type indicators (Ebeling 2000). Haar, Hall, Schoepp Smith (2002) define learning styles as â€Å"individual differences in the way information is perceived,Read MoreEssay about Teaching Techniques for Different Learning Styles771 Words   |  4 PagesTeaching Techniques for Different Learning Styles As teachers we will be faced with many difficult tasks one of which will be finding creative ways to motivate the children in our classes to learn. There are so many teaching techniques it may be overwhelming for new teachers. With the emphasis on test scores and the â€Å"No Child Left Behind† Act many teachers may fear being creative in the classroom. This paper will attempt to explore some creative teaching techniques. Recently there has been

Mathematics Web-Based Learning for Malaysian Secondary Schools in Geometry Free Essays

MASTER RESEARCH PROPOSAL Prepared by Yeo Lian Ming 1. Title : Mathematics Web-Based Learning For Malaysian Secondary Schools In Geometry 2. Chapter 1 Introduction Background Of The Problem Learning of geometry is formally introduced in the Malaysian primary mathematics curriculum. We will write a custom essay sample on Mathematics Web-Based Learning for Malaysian Secondary Schools in Geometry or any similar topic only for you Order Now The emphasis in geometry increases as students progress to secondary education, where about forty percent of the sixty topics in the five-year secondary mathematics curriculum comprises geometry content (Malaysian Ministry of Education, 1998). It is paramount that students at the beginning level of secondary education are provided with logical reasoning skills to build on subsequently more rigorous experiences of formal geometry. The Curriculum and Evaluation Standards for School Mathematics (NCTM,2000), and other important literature in the area of mathematics education call for emphasis in geometry at all levels. Geometry is a unifying theme to the entire mathematics curriculum and as such is a rich source of visualization for arithmetical, algebraic , and statistical concepts. For example, geometric regions and shapes are useful for development work with the meaning of fractional numbers, equivalent fractions, ordering of fractions, and computing of fractions (Sanders, 1998, p. 20). However, geometric concepts are often neglected in elementary and middle level schools in favour of teaching computational skills ( Huetinck Munshin, 2004 ; Noraini Idris, 2006 ). Various reasons related to mathematical system itself, curricular materials, instructional practice, and cognitive development have been proposed to explain students’ the difficulties with geometry. In many Malaysian schools, the teaching and learning of mathematics has been reported to be too teacher centred and that the students are not given enough opportunities to develop their own thinking (Malaysian Ministry of Education, 2001). This situation invariably results in students becoming passive receivers of information, which in many cases do not results in conceptual understanding. Many students are not able to comprehend what their mathematics teachers teach especially on the topic of geometry because mathematics content is taught with the intention of finishing the syllabus and preparing for examinations. Little regard is given to how well the students understand geometrical concepts. On the topic of geometry, students encounter difficulties in applying what they have learnt due to spatial inability and visualization problems. In secondary school, mathematics teacher’s biggest challenge is to find a way how to get students’ interest to learn geometry. Through web-based learning, teacher can give students a new and stimulating way to learn and practice mathematics when and where it is suitable for them. The use of computers in education can be utilized as a new technological support for the visualization of abstract concepts through computer-generated virtual representations, allowing for the generation of mental model of the geometrical concepts. Moreover, the use of the World Wide Web as an educational delivery medium has pushed the limits of instructional design. It is becoming commonplace for students to register for programs, access course materials, communicate and submit assignments, and retrieve grades electronically. Classrooms and conference facilities in schools around the world are web-friendly, with many offering video-conferencing or full virtual classroom facilities. But the real question is this: does web-technology help or hinder learning? The best answer seems to be that it depends on the situation. Sometimes it helps. Sometimes it hinders. On the plus side, the Internet has moved management education ahead by enabling rapid, easy access to education and information, shared workspace tools for collaboration, instant communication and messaging, and online help. On the negative side, the quality of learning, more often than not, fails to meet expectations. Statement Of The Problem Teaching and learning process in mathematics particularly in the topic of geometry is not an easy task. Students tend to fail in developing an adequate understanding of the concepts, reasoning, and problem solving skills. The lack of understanding in learning geometry often cause discouragement among the students, which invariably will leads to poor performance in public examination. A number of factors have been put forward to explain why learning geometry is difficult due to geometry language, visualization abilities, and ineffective instruction. Poor reasoning skills are also another area of concern among secondary school students. Many are unable to extract necessary information from given data and many more are unable to interpret answers and make conclusions. Traditional approaches in learning geometry emphasized more on how much the students can remember and less on how well the students can perform the process of problem solving that includes higher order mathematical thinking skills and reasoning. Thus learning becomes forced and creates anxiety among students and seldom brings satisfaction to the students. Objectives Of The Study This study will explore the ICT ability such as the web-based instructional objects as learning visual aids for the teaching and learning process in Geometry. This skill will enhance the teaching and learning process in delivering the topics in Geometry. The study will address some of the primary issues that should be included in the curriculum design process to develop a more interesting learning experience that truly engages the students from a cognitive perspective, while encouraging or fostering a greater accomplishment in the student’s learning development particularly the visualization ability and problem solving skills. Scope Of The Study This study focuses on the curriculum design of web-based instructional objects for the teaching-learning process that involves hands-on ability with emphasis on experiential model. From the experiential perspective, the goal is to provide an opportunity or event that will engage or involve the student in the active process of learning. Experiential web-based learning can occur when the following conditions are met during the design phase: a )the appropriate level of cognitive and/or affective domain is reached, causing the student to do much more than simply receive the learning or knowledge, ( b )the relationship between the type of knowledge establishes an implied level of student involvement, ( c )the outcomes are evaluated with respect to the domain (cognitive and/or affective) in terms of the type of knowledge. Once these steps are included during the design process, rather than as an afterthought, web based learning will become richer, and provide the student an authentic learning event. Significance Of The Study In designing instructional objects, emphasis should be placed on designs that are conducive to meaningful learning rather than designs that aim merely at presentation of objects. This study will examine the integration of technology, content, pedagogy and online delivery as it affects the student learning experience. The process and model for creating interactive-rich learning environments is presented to improve their course development practices and online classroom quality. . Chapter 2 Literature Review The application of instructional objects in the teaching and learning of mathematics helped the students to understand the subject matter more clearly through novel presentation; making the learning of mathematics interesting and fun as well as easier to understand (Clarke ; Gronn, 2004). The wise use of web-based technology can help to break the boundaries between classroom and workplace, between theory and practice, and between the roles of instructor an d learner. A second generation approach carefully designed and extended, can lead to many win-win solutions that can promote meaningful action-based learning that combines the best in technical and soft skills education in both classroom and workplace settings (Morgan, G. ; Adams, J. , 2009). However, there was a significant interaction effect between delivery model and prior web experience. This indicates that for some learners, certain delivery models may be more ffective for web-based environments (Ahern, T. ; Martindale, T. , 2001). The results of the recent study showed that the learners who used the hybrid web based learning model displayed a better understanding of the necessary concepts and were able to apply their learning experiences to real life contexts better than the learners who were exposed to the traditional teaching method only (Naidoo, N. ; Naidoo, R. , 2006). With the current bodies of research and knowledge on development both of the learner, and the instructor, there is a need now more than ever to re-examine and develop a new model for instructional design. It may be necessary then, to abandon, or perhaps significantly modify, the traditional instructional design models that were grounded in behavioral terms in favor of a model that is more experiential (Kolb, 1984). 4. Chapter 3 Research Methodology Research Design ; Procedure Through the use of programs that can be downloaded from the internet such as Moodle an Open Source Course Management System (CMS), an interactive course materials containing online activities such as self assessments, animations, and simulations on the topics in geometry can be produced to develop an e-learning websites to encourage self-learning and ability to seek for knowledge from various sources. These can improve learning and are often more enjoyable , flexible learning time and meaningful for students. Operational Framework This study will adopt quasi-experimental design which consists of two groups of students. One treatment group will undergo the lessons of geometry using web-based learning while the other control group will be taught by traditional approach. I will conduct interviews, surveys and questionnaires to obtain empirical information on this research. Please refer to the attached Gantt chart. Assumptions ; Limitations This study will only use one instructional module entitled Geometry as the treatment period, and an expanded study should encompass the entire Mathematics subject. There are many other delivery models to examine in terms of effectiveness for web-based learning. Studies should be conducted using these models in combination. It would also be interesting to examine participant variables (age, gender, prior experience, etc. ) and the effectiveness of various delivery models. Research Planning ; Schedule Preparation Phase : Study the content of geometry. A literature review of the web-based learning by previous research endeavours will be conducted to complete and narrow down the orientation I will take for the following steps of my research. Analysis Phase : Observe a group of students to identify problems in teaching-learning the topic of geometry and analyze the types of instructional object activities in the web-based learning. Design Phase : Select a few subtopics of geometry as the research target. Employ experiential model to produce interactive course materials for geometry which containing online activities by using Moodle an Open Source Course Management System. Application Phase : Test the instructional objects on the sample group to collect data in terms of web-based learning quality, analyze the results and draw conclusions. Evaluation Phase : Refining and enhancing the interactive course material of geometry in the web-based learning. 5. Chapter 4 Expected Findings and Summary The rapid expansion of web-based learning necessitates examining its effectiveness because instruction is more than simply displaying information. Instruction requires an integrated fit that considers the content, the current state of the student and the delivery model to achieve success. The most important long-term outcome of web-based learning may be the students’s increased capabilities to learn more easily and effectively in the future, both because of the knowledge and skill they have acquired and because they have mastered learning processes. That implies that a major role in teaching is to create powerful learners. In conclusion, I hope that the students can apply their knowledge of geometry to solve the mathematical problems as well as everyday problems they face in daily life through this web-based learning. How to cite Mathematics Web-Based Learning for Malaysian Secondary Schools in Geometry, Essays

Analysis Of Robert Frosts Stopping By Woods On A Snowy Evening Essay Example For Students

Analysis Of Robert Frosts Stopping By Woods On A Snowy Evening Essay Robert Frosts Stopping by Woods on a Snowy Evening is by far one of my favorite works of modern poetry. The pensive, unhurried mood of the poem is reflected with a calm rich imagery that creates a vivid mental picture. The simple words and rhyme scheme of the poem give it an easy flow, which adds to the tranquility of the piece. Every aspect of the poem builds off the others to put the mind into the calm of a winter evening. The first stanza of the poem is rather simple and provides the basis for the imagery. It mentions the woods and implies that they are located away from town and civilization his house is in the village though. It also shows the easy pace that speaker is taking, having plenty of time to simply watch the falling snow. As I think about them, the words of the first stanza are not overtly somber, they do however through their order and the way they were chosen create a rather pensive mood. The second stanza provides a more in depth view of the imagery sketched out in the first; it also provides a more definite time and location. The first two lines of this stanza firmly place the reader rather deep in the woods and away from any dwelling. He is so far out in fact that his horse is puzzled by his actions. The next line gives a better image of the scene Between the woods and frozen lake; it seems to be a rather quiet and lonely place. The next line then provides that it is night and very dark, either emotionally or actually. I think that Frost intended to make that line rather ambiguous The darkest evening of the year, It can either be taken literally as the most lightless night, or it can be taken as the night of the darkest emotions. I think that it is a combination of the two, a dark moonless winter night in which the speaker experiences some form of depression or loneliness. The third stanza of the poem brings the strangeness of the situation to a head. The only other living being in this cold lonely landscape, the speakers horse takes action to find the reason for the odd stopping. The noise from the inquisitive harness bells provide contrast to the quiet of the scene, where the only other sounds a wind and snow. The descriptions of the sounds provide a little insight to the speakers mindset and position. He is so still that he can here the soft fall of the downy flake and hear the movement of the easy wind. This also shows a great calm and patience that the speaker must posses. The final stanza of the poem brings all the sentiments of the poem together, an intense love and awe of nature, a never ending patience and some unknown task or problem that robs the speaker of rest. The dark and deep woods seem to reflect  the speaker, his dark emotion and depth of character. There stillness also contrasts with the need of the repeated closing lines And miles to go before I sleep/ And miles to go before I sleep. These final lines represent the problem that has plagued the speaker and that is most likely responsible for his dark mood. It is something that is undefined that does not demand a rush to deal with, but is important enough to demand attention. The poem as a whole, is a simple effigy of a quiet thoughtful night. I can easily relate to the poem, the emotions it describes and the way that the images are presented. The careless ease with which the poem is read is vital to the poem as a whole. Also this is my favorite poem, I didnt have to open the book to remember it, only to see its format again. It reminds me of the moods I feel on snowy nights or early mornings. I live in the woods and before I drove; I often walked through them as a shortcut to visit friends, so I have many memories of stopping by a neighbors wood on an easy walk home, and watching the snow slowly fall.

Amylase Essays (307 words) - Enzymes, Catalysis, Chemical Pathology

Amylase The enzyme amylase will catalyze the hydrolysis of starch to maltose when the pH is near 7.0. But when the HCl is added to the solution the amylase will be denatured which results in the enzyme being deactivated. The iodine serves as an indicator for the presence of starch. Iodine (I2) will reach with iodide ion to produce the I3- ion. This ion will form a dark blue complex with the starch molecule. Like most chemical reactions, the rate of an enzyme-catalyzed reaction increases as the temperature is raised. A ten degree Centigrade rise in temperature will increase the activity of most enzymes by 50 to 100%. Variations in reaction temperature as small as 1 or 2 degrees may introduce changes of 10 to 20% in the results. In the case of enzymatic reactions, this is complicated by the fact that many enzymes are adversely affected by high temperatures. As shown in Figure 13, the reaction rate increases with temperature to a maximum level, then abruptly declines with further increase of temperature. Because most animal enzymes rapidly become denatured at temperatures above 40?C, most enzyme determinations are carried out somewhat below that temperature. Over a period of time, enzymes will be deactivated at even moderate temperatures. Storage of enzymes at 5?C or below is generally the most suitable. Some enzymes lose their activity when frozen. . As amylase breaks down starch, less and less starch will be present and the color of the solution (if iodine is added) will become lighter and lighter. Enzymes are biological molecules that catalyze many different chemical reactions. With few exceptions, all enzymes are proteins and each enzyme is specific to a certain chemical reaction. Enzymes must maintain a specific three dimensional structure in order to function properly. If an enzyme's structure is altered (by heat or harsh chemicals) it may not function at all. This breakdown (denaturation) of an enzyme's Science Essays

Liquid Nitrogen Ice Cream Recipe and Instructions

Liquid Nitrogen Ice Cream Recipe and Instructions You can use liquid nitrogen to make ice cream pretty much instantly. This makes a nice cryogenics or phase change demonstration. Its also just plain fun. This recipe is for strawberry ice cream. If you omit the strawberries, you can add a bit of vanilla for vanilla ice cream or some chocolate syrup for chocolate ice cream. Feel free to experiment! Difficulty: Average Time Required: Minutes Heres How This recipe makes a half gallon of strawberry ice cream. First, mix the cream, half-and-half, and sugar in the bowl using the wire whisk. Continue mixing until the sugar has dissolved.If you are making vanilla or chocolate ice cream, whisk in vanilla or chocolate syrup now. Add any other liquid flavorings you might want.Put on your gloves and goggles. Pour a   small amount of liquid nitrogen directly into the bowl with the ice cream ingredients. Continue to stir the ice cream, while slowly adding more liquid nitrogen. As soon as the cream base starts to thicken, add the mashed strawberries. Stir vigorously.When the ice cream becomes too thick for the whisk, switch to the wooden spoon. As it hardens more, remove the spoon and just pour the remaining liquid nitrogen onto the ice cream to fully harden it.Allow the excess liquid nitrogen to boil off before serving the ice cream. Tips The mix of whipping cream and half-and-half helps to make a very creamy ice cream with small crystals, that freezes quickly.Dont touch liquid nitrogen or store it in a closed container.If the ice cream begins to melt before everyone is served, simply add more liquid nitrogen.A large plastic mug with a handle is good for pouring the liquid nitrogen. If you use a metal container, be sure to wear gloves.A cordless drill with a mixing attachment is even better than a whisk and wooden spoon. If you have power tools, go for it! What You Need: 5 or more liters of liquid nitrogenGloves and goggles recommendedLarge plastic or stainless steel punch bowl or salad bowl4 cups heavy cream (whipping cream)1-1/2 cups half-and-half1-3/4 cups sugar1 quart mashed fresh strawberries or thawed frozen berriesAdditional half cup of sugar if you are using unsweetened berriesWooden spoonWire whisk

Health economics, market structures, government interventions Assignment

Health economics, market structures, government interventions - Assignment Example MONOPOLISTIC: Share the feature of monopoly and perfect competition. Similar purpose products are differentiated by many firms operating in market. Low entry and exit barriers welcomes new participants with high profits in short run. Participants gain profits various innovations in products. OLIGOPOLY: Market is based on few dominant firms offering similar but high level of differentiated products with innovation. Firms with dominance create barrier to entry exist with extensive control over price. Despite control of firms, prices are dependent on peer firms’ decision in market. MONOPOLY: Only one firm provides goods and services. Least differentiated product but control over price is enjoyed by the firm. Industry has high level of barrier to enter and exit from market. Profits are enjoyed by firm with constantly increasing economies of scale. ANSWER #2 The monopolistic competition is a type of competition that share features of two extreme types of competition being perfect c ompetition and monopoly. Many firms are present like perfect competition while products are differentiated like monopoly form of market structures such as movies etc. In short run monopolistic industry gets attractive by offering positive profits to participant firms and new firms enter to the market in long run. It is also due to due to no to low barrier of entry and exit in the market like perfect competition. Prices continue to increase over marginal cost in similar fashion as in case of monopoly competition. Profit maximization in monopolistically competitive market requires marginal revenue to equate marginal cost while downward slope of the demand curve takes marginal revenue lower than price. Also entry of new firm results in increased supply of differentiated products resulting in shift in the demand curve. Sharing the feature of perfect competition, price is determined at point equal to average total cost. This price is similar point where demand curve is tangent to average total cost. At this point industry offers zero economic profits and hence does not attract new participants due to zero economic profits (Gartner, 2009). ANSWER #3 Public goods are defined as set of goods having following two distinct characteristics of non-excludability and non-rival consumption. Non-excludability feature refers to the fact that usage or benefit of public goods gained by certain peoples does not result in prevention of its benefits offered to others. Non-rival consumption features of public goods refer that irrespective of consumption of public goods by certain people availability of amount or level of benefit to others is not reduced. These feature contrast public goods from the private goods. The example of public goods includes services of disaster management cells managed by government, roads and street lights etc. The feature of non- excludability results in facilitation of products to all even those who bear no financial cost. All financial cost bearers and non-bearers enjoy equal benefit of public goods irrespective of tastes and preferences and diminishing value. Such facilitation results in free-riders problem in economy. People gains confidence of availability of the goods even without paying for and hence tend to adopt trend of not paying for such services. This trend presses the increased burden on payer of such facilities. Such features of publi

Homosexuality Research Paper Example | Topics and Well Written Essays - 500 words

Homosexuality - Research Paper Example Members of the Society for the Reformation of Manners in England accused Captain Rigby of sodomy. The captain was convicted and sentenced to serve one I year in prison. He was also made to stand in a public place where people get to humiliate him for his supposedly bad manners. During the reign of Germany’s National Socialist (Nazi) government under the leadership of Adoft Hitler, the Nazi attempted to rid Germany of people whom they think do not fit their vision of the Aryan race. Since homosexuals do not fit into their vision of the Aryan race, many homosexuals were summarily put to death (see United States Holocaust Memorial Museum). Although times have changed since the open persecution of homosexuals through the courts and through summary execution, the public perception of homosexuals still remains mixed. Some people have become more tolerant to gays while others remained close minded on the issue. In our modern times, homosexuals enjoy more freedom but still, there are areas where these people still do not enjoy the kind of freedom that most people have. A good example of this is the case of the military. During the Clinton Administration, the government adopted the â€Å"Don’t Ask, Don’t Tell† policy for gays in the military. This laws which took effect in 1993 authorized the government to discharge an American soldier for coming out as lesbian, gay or bisexual. The rationale behind this legislation is that accepting people who are openly gay into the military would affect the high standard of morale in the military and would affect the implementation of good order and discipline among soldiers. The Bush administration supported the policy but the Obama administration promised to allow gays to openly serve the military. Of course this promise of President Obama is yet to be seen in the military. As of now, the â€Å"Don’t Ask Don’t Tell† policy still

What Factors Affect the Gender Pay Gap in the UK Industries Essay

What Factors Affect the Gender Pay Gap in the UK Industries - Essay Example This research will take both a mixed method approach where both qualitative and quantitative methods will be applied. The incorporation of a mixed method approach will help increase reliability while increasing both internal and external validity. The qualitative method will be used in order to explain the beliefs and the behaviors that surrounds gender pay gap. This method will involve interviews with various individuals that will shed light on the disparity in pay between men and women. The interviews will involve corporate managers; ten shall be interviewed where at least four should be of the opposite gender. In addition, employees drawn from various sectors will be interviewed. Ten companies that are involved in manufacturing of various products and provision of diverse services will be chosen, for every organization, one individual shall be interviewed. In this case, at least 40% of the interviewees should be of the opposite gender. For the quantitative research, a survey of th e payments of individuals across various industries will be done. This data shall be provided under the consent of the management of the respective organizations. Payment data from twenty-five organizations shall be collected. This will help create an understanding of the disparities in gender across occupations as pointed out by Farrell. Both research methods will adhere to ethical standards of research. Firstly, there will be informed consent for both the interviewees as well as the management shall be aware of the use of the payment data. Another aspect is confidentiality; both the interviewee’s information as well as their individuality will be kept confidential, the same will apply to the payment data that is meant for survey purposes. The variables under considerations are two; gender (dependent) and the independent variable will be payment. A relationship will be drawn between the two from the quantitative data obtained through the surveys.

Personal Learning Statement for Dissertation

Personal Learning Statement for Dissertation Careful, precise and comprehensive planning is the key to success. Having known the importance of planning, I carefully planned my project with a step by step approach. The first step at this stage was the analysis of my strengths and weaknesses in order to decide the topic of my research project. I have always been interested in stock markets and business analysis of companies. This interest helped me learn more about business and financial analysis of companies and the different ways by which their financial performance and position can be analysed. The next important step was the formulation of a strategy as to how I would carry out the task in hand i.e. How to conduct the research? When to start? And most importantly whom should I choose as a mentor? In regards to the selection of a suitable mentor the article titled Making the most of your Mentor by Pippa Riley (11th August, 2005) published on ACCA website proved to be a life saver. I gave it a deep thought and after carefully considering all my options I chose my mentor to be my tutor Mr Muhammad Yasser Naqvi Syed, who is a Member of ACCA. A person who has helped me a great deal since the day I joined ACCA and has been a role model for me over the years. After concluding my decision I approached my mentor and I was extremely delighted when he accepted to be my mentor and guide me through the project. 2. Meetings with Mentor The role of Project Mentor is of great significance in the success of a research project. I had my first meeting with my chosen mentor on 5th January 2010, just after December 2009 ACCA examinations. In that meeting I introduced my mentor to the topic I had chosen and the reason behind my selection. I told him about my strategy and the means and methods I intended to use. I was confident that I had properly communicated the reasons and objectives of the topic I chose and my mentor seemed to be satisfied with my choice and strategy. Furthermore, I sought his advice on the matters such as research methods and we had a fruitful discussion. All in all, the first meeting was highly successful and cemented my ideas showing me a clear path to my objective. After my first meeting I was much more confident as I had a clear direction towards preparing the project. Our second meeting was scheduled for 12th March 2009. Before the meeting I reviewed my project at every stage and tried to make sure that there are no spellings or grammatical mistakes and after that I sent the completed part to my mentor for reviewing the progress. I also noted all the feed back from my mentor and tried to improve the quality of my work. In the meeting I demonstrated all the information I had gathered from different sources and asked my mentors advice on some unresolved issues. Before the 3rd meeting I sent a draft copy of the project to my mentor and noted his feed back and then I prepared slides in Microsoft PowerPoint along with extra slides showing charts and share prices. We held our third and final meeting on 14th April 2009. I was very confident of the work I had done and prepared for the presentation beforehand. I had a clear set of mind of what I had done and how I wanted to express that work in the presentation. My mentor was satisfied and equally amazed at my effort and congratulated me on my work. As stated in the guidelines, I had 15 minutes for the presentation; therefore I planned for my presentation well in advance and made sure that I included all the relevant information. Before I started my presentation, I handed out printed copies of my presentation to my mentor and my colleagues. I started my presentation by introducing J Sainsbury and giving a brief history of the company. After that I explained the various analyses and comparisons I had performed in order to analyze the financial position of J Sainsbury and to reach at a conclusion. I also explained the potential opportunities and the threats faced by the company. I used Microsoft Power Point to convey my message more efficiently and used graphical analysis to help my cause. My presentation was indeed a success and I felt all my hard work and dedication paid off. My mentor was pleasantly surprised and gave me a pat on my back. My strengths included a thorough understanding of the topic, detailed research work and good presentation skills while my weaknesses included taking a few more minutes outside my allowed quota. This experience was a massive confidence booster for me and it proved to me that I am very well capable of delivering top class professional presentations. 3. Self Assessment / Critical Evaluation As part of the skills and learning statement, I would now try to critically evaluate my performance and the skills I learned during the preparation of my project. One of the ways of evaluating the success of a project is to analyse whether it has answered all the relevant research questions satisfactorily or not. In formulating the strategy of my research project, I identified a few research questions which were critical to the overall success of my project. I focused my energies to finding the answers of these questions. Although I think I managed to answer most of the research questions in a satisfactory manner, there were a few areas where I could have done more research and allocated more time and resources. The feedback I got back from my mentor suggested that I have been able to achieve the objectives of my research project successfully. This being the first extensive research project carried out by me made the task a little bit daunting in the beginning and made me a little apprehensive about my abilities of carrying out the task with perfection. But as the project progressed, things started becoming clearer and my confidence levels were boosted. I chose to assess the business and financial performance of J Sainsbury plc over the last three years. J Sainsburys plc is a United Kingdom-based company principally engaged in grocery and related retailing, and financial services. Financial ratios were used to asses the financial performance of the company over a three year period and then I tried to explain the reasons for variations in the ratios. I kept sending my draft incomplete project to my mentor and requested him to assess my performance under the guidelines of Oxford Brookes University so I could judge the quality of my work done so far. For this purpose I sent several emails to my mentor and made notes of every feed back. I carefully assessed the external position by looking at the macro environment by using Porters Five Forces Model. I tried to do well on this analysis by giving a detailed overview and try to look at the wider side of the picture. I highlighted critical strengths and weaknesses and the resulting opportunities and threats faced by the company by using a technique called SWOT analysis. This exercise was very beneficial to get a thorough understanding of the company and also helped me to come up with some recommendations to capitalise on the strengths of the company and eliminate or neutralize its weaknesses. 4. Interpersonal and Communication Skills The term interpersonal skill is very often used to measure the personal ability to operate within the business organization through social communication and interaction. And the Communication skills are the skills which enable people to communicate effectively with each other. It also includes the ability to speak in public, meetings, presentations and writing letters. In my RAP it relates to the communication skills which I demonstrated during the meetings with my mentor and customers. The meetings with my mentor helped me to assess my interpersonal and communication skills and identify the areas which needed improvement. Questioning is one of the most important utensil in communication in order to derive answers and achieve confirmation. Since it is a fundamental tool in seeking information it is was imperative to get direct answers during the initial stages of the project as I required direction from my mentor. However I realised that getting direct information was not easy as the response is directly dependent on the style of question. During the project I used both closed questions where I needed a confirmation of what I knew and open questions where the intention was to get as much information as possible. Towards the end of the project, when I had passed the data gathering stage I was seeking specific answers, this also entailed asking probing questions in order to clarify many areas. Restating information in a form of a question enabled me to understand difficult factors. Effective communication also entails speaking and listening. I used both gestures and a variety of verbal and non verbal means for instance, nodding my head, making notes of important points, and basic words of confirmation to express a form of acknowledgement seen as a verification or feedback that is identified as active or reflective listening, as I would continuously be seeking to understand what my mentor was stating. This was reinforced with the use of eye contact to show that I understood and was interested in what was being communicated to me by my mentor. Prior to meetings I would make sure that my mobile phone was switched off, to reduce disturbance that was in my control. These activities helped me to improve my interpersonal and communication skills and also made me more confident in my approach. 5. How RAP Helped In Studies / Employment The preparation of RAP has helped me to gain certain invaluable and precious skills which have helped me both in my studies and my working life. I learned a lot of new skills and techniques which has given me an edge over my competitors in the job market. The preparation of RAP helped me immensely in better understanding of professional subjects of ACCA such as P3 (Business Analysis) and P2 (Corporate Reporting). As a part of my RAP I used different financial and non financial techniques described in these subjects to asses the business and financial performance of JS Sainsbury. It was a great exercise for me and gave me a chance to apply all my knowledge gained from ACCA qualification in to a practical company scenario. RAP also improved my skills in Microsoft Office. I learned a lot of new features of MS Word, MS Excel and MS Power Point. These skills are still helping me in my current job and have increased my work efficiency. I have also had a pay rise from my employer since preparing my RAP, underlining the improvement I have made. RAP has also helped me polishing my interactive skills as I improved this skill by collecting financial and non financial information about the company from different sources. These interactive skills have helped me a lot in my current job and as a result I am much more confident while interacting with clients during audits and client visits. The project helped me develop my IT skills. I added not only to my accounting knowledge, but also learned different aspects of planning, organising, time management, writing, and public speaking. These skills will be of use to me in all aspects of my life.

Death Of A Salesman :: essays research papers

Critical Essay – Drama   Ã‚  Ã‚  Ã‚  Ã‚  The idea that any person can rise from humble beginnings to greatness is the basis of the American Dream. Arthur Miller paints a harsh picture of this ideal in the drama Death of a Salesman. The main character, Willy Loman, is a complex and tragic figure. He is a man striving to hold onto what dignity he has left in a world that no longer values the beliefs he grew up with. While society can be blamed for much of Willy’s misfortune, he must also be blamed for his bad judgement, disloyalty and his foolish pride.   Ã‚  Ã‚  Ã‚  Ã‚  Willy Loman’s own delusions are a result of his failure to succeed in life. He still believes he is popular, respected and good-looking. But at age sixty-three, he is none of those. When presented with a bill he knows he cannot pay, Willy convinces himself that a sales trip to Hartford will solve his problems. He vows to his wife, “I’ll knock ‘em dead next week. I’ll go to Hartford, I’m very well liked in Hartford'; (1809). However, in those moments that he begins to realize the truth, his wife Linda while understanding his situation, supports his delusion. She says to him “…you’re the handsomest man in the world'; (1809). But the truth is being popular and good looking is not the key to success. Success is achieved through hard work and perseverance.   Ã‚  Ã‚  Ã‚  Ã‚  The American Dream has long turned sour for Willy. At the beginning of his life, he remembers travelling in a wagon going westward. His parents conquered the new frontier and succeeded. His brother Ben, “Walked into a jungle, and comes out, the age of twenty-one, and he’s rich'; (1811). For a while, the American Dream was alive in Willy too. He helped stake out new territories by selling his goods, his son Biff was going to a university with a scholarship and he had a home with no apartments closing in on him. But now, Willy is forced to work on commission at an old age and ultimately fired by his godson. His favored son Biff is also a hopeless dreamer, unable to hold on to a job. Willy’s “fatherly advice'; advocated “…it’s not what you do. It’s who you know and the smile on your face'; (1833). Willy’s delusions of fame and fortune infected his own life and spread to the sons he had placed such high hopes on.

Characters in Mayor of Casterbridge and Frankenstein Essay

I am going to use Aristotle’s definition of a tragic hero in order to ascertain whether the main characters in Mayor of character of Michael Henchard as a tragic hero as he adopts fatal flaws which result in an eventual downfall. He then recognises his faults and inspires pity from the reader. This novel was first Casterbridge and Frankenstein can be viewed as tragic heroes. Hardy presents the published on the 2nd January 1886. To date, his fictional writing had received mixed reviews but this particular novel was well received by his contemporaries and critics alike and given high marks. In Hardy’s autobiography it states, â€Å"Others thought better of it than he did himself.† Mary Shelley’s fictional novel, Frankenstein was first published in 1818. In this novel I have focused Victor Frankenstein, the main character, and have studied him thoroughly throughout the events in the novel. There is an ongoing and controversial debate as to who actually is the tragic hero of the novel as both Victor Frankenstein and the monster both qualify. In this essay, I will discuss this view and indicate who I believe to be the tragic hero. The first element I will look at is Harmartia which is Greek, meaning fatal or tragic flaw of judgement. In the novel, Henchard makes many fatal flaws which, in turn, causes the occurrence of other tragic events. I will concentrate on his first flaw which we come across right at the beginning of the novel. Henchard actually sells his own wife and infant daughter at a furmity tent while he is in a totally drunken state despite being disapproved of alcohol consumption by his wife. His flaws in being disobedient and inconsiderate are completely evident when he shouts, â€Å"Will anybody buy her?† This not only humiliates Susan, his wife, but also shows us a very bitter side to his character which is most definitely flawed. According to Samuel Pyeatt Menefee, â€Å"Contemporary critics who could not believe, apparently, that such transactions had ever occurred on English soil in the nineteenth century.† Hardy surprises the audience as well as the critics with the use of thi s plot device and gives the audience something to look forward to later in the novel. The flaw of consuming alcohol itself is a tragic flaw as it leads him to insult and blame his wife during her presence and makes drastic decisions. Hardy also describes Henchard as a â€Å"women-hater† which shows us that he has little respect for the opposite sex and thinks that they limit his opportunities of being successful. This is also corresponds to what happened at the furmity tent with his wife and shows his attitude clearly towards women. From this we can see that extreme hatred is definitely one of his flaws.   In Mary Shelley’s Frankenstein, Victor Frankenstein is considered to be a tragic hero as he fits in the mould of Aristotle’s definition of a tragic hero. Frankenstein’s tragic flaw is that he is overpowered by his ambitions and aspirations which drives him to create the monster. This is highly evident when he says, â€Å"when I am glowing with the enthusiasm of success, there will be none to participate my joy.† This shows how he is driven by success and ambition and shows that his creation means everything to him. Critique, Anne K Mellor states â€Å"Frankenstein has clear ly substituted his scientific research for normal emotional interactions† in her thesis (Mary Shelley: Her Life, Her Fictions, Her Monsters (1988). This not only supports the fact that Frankenstein has flaws but also introduces the fresh idea of ignorance in Frankenstein which could be a potential and hidden tragic flaw. He also attempts to play god and mess with the beauty of nature which results in something extremely ugly. This is explored through after creating the monster, Frankenstein is unable to face the consequences of his own scientific actions and rejects the monster. It is evident that Frankenstein was only concerned about the outer beauty and we see this when he says â€Å"breathless horror and disgust filled my heart.† This expresses his emotions towards his own creation and highlights his error of judgement which proves that Frankenstein himself had flaws. Peripeteia is a Greek element which involves a tragic downfall of character. As we have already established, Henchard has many flaws which start a chain of downfalls for him in the novel. The first fall he experiences is when he loses Donald Farfrae as both a manager and a friend. This impacts on Henchard’s business greatly as Farfrae is a great asset to the business as a result of his rational decision-making. Due to Henchard’s flaw of jealousy, he loses Farfrae in both of these capacities. Henchard then proceeds to make very bad business decisions which result in bankruptcy and the eventual loss of the business. Just as we believe that he has nothing left to lose, we are surprised when his secret is revealed in court by the furmity women. The secret, of selling his wife and daughter, is now revealed. This then effects Henchard further as he loses his house, his position as Mayor of Casterbridge and loses his reputation within the community. Eventually, we see Henchard depicted as a beggar during the Royal’s visit and is described as wea ring â€Å"fretted and weather-beaten garments of bygone years†. This description contrasts greatly with Hardy’s earlier description of Henchard’s clothing when he first becomes Mayor of Casterbridge. This contrast shows exactly how much of a downfall he has suffered. In comparison, Frankenstein also has downfalls which are caused by his own actions. Frankenstein suffers emotionally when he loses his wife Elizabeth and his friend Clerval as the monster kills them both which in turn, kills his own happiness. He expresses his â€Å"Overflowing misery† and â€Å"Agony of despair† and this is an indication that he is suffering and the great pain he feels. The word â€Å"overflowing† also implies that the grief he is trying to endure can no longer be contained and that his misery is reaching insurmountable levels within him. The phrase â€Å"Agony of despair† also gives the impression that his tolerance towards his own unhappiness will be prolonged, permanent and everlasting. The third element I will look at is Anagnorisis which is Greek for recognition of fatal flaw of character. In mayor of Casterbridge, Henchard falls from a high social status to a low one but does become aware of his fatal flaws and wrong-doings to others. The first flaw he admits to is selling Susan in the furmity tent in front of a court of magistrates .This is apparent when he says in court â€Å"‘Tis as true as the light.† This quote shows how Henchard realises the mistake he made with Susan and surprises the reader with this truthful attitude. Here, we see him in a different light from the character we have witnessed and come to know. It also causes confusion for the reader as to why he actually told the truth at this point when he knows that it can remain concealed. Similarly, the element of realising own tragic flaws is present in Frankenstein but instead Frankenstein realises when it’s too late. After the death of several people, he realises that his own cr eation was a mistake and that he only deserves the same fate as those the monster had killed. He describes himself as being â€Å"Unfeeling, heartless creator!† This indicates that he regrets making the monster which contrasts with his attitude at the beginning when he is driven by excessive curiosity. Frankenstein also admits that he cannot play God through the quote â€Å"Fright must it be, for supremely frightful would be the effect of any human endeavor to mock the stupendous mechanism of the Creator of the world.† The quote is his own realization that he, in his arrogance had mocked God, because the only consequence that can be had by playing God is frightful. It is true to say that Victor Frankenstein realises that his own creation was a mistake and that, as a consequence, he too deserves the same fate as those his monster has killed. He describes himself as being â€Å"Unfeeling, heartless creator!† This indicates that he regrets making the monster which contrasts with his attitude at the beginning where he was wholly driven by excessive ambition and curiosity. However, Unlike Henchard, it is evident that Victor has learned little from the suffering he has caused. This lack of self-awareness is indicated before his death when he speaks of â€Å"Another† who â€Å"may succeed.† This implies that he doesn’t recognise his flaws completely. or fear by the character. Despite his bitter character portrayal, Hardy also tries to create an innocent side Catharsis is an element of the tragic hero which is evident in the character of Michael Henchard. This forth element is Greek and it means to inspire pity ewual amount of sympathy towards the character. We come across this when Henchard states, â€Å"Here and everywhere are folk dying before their time like frosted leaves, though wanted by the world, the country, and their own families, as badly as can be; while I, an outcast and an encumbrance, wanted by nobody, I live on, and can’t die if I try.† Henchard feels like an outcast; no one cares whether he lives or die s, and yet he â€Å"lives on.† He uses the simile of â€Å"frosted leaves† to describe people â€Å"dying before their time,† perhaps because people have as little control over their deaths as they do over the weather. Henchard mainly inspires pity towards the end of the novel when he dies and leaves a will behind for his daughter and Farfrae. In this will he expresses his feelings of regret and starts to show that he thinks of others before himself. This is evident in the will when it states â€Å"that no man remembers me.† This particular line in the will is the last line of all of his other wishes that are completely selfless and expresses the hatred towards himself. This inspires pity in the reader as we feel a great amount of sympathy for Henchard when he wishes that no one would know and commemorate him regardless of his death. Henchard’s final will and testament sums up the dissatisfaction of his life. He doesn’t want to be remembered or mourned; he doesn’t even want a grave marker. In Frankenstein, the character of victor Frankenstein doesn’t entirely create sympathy for himself as he is responsible for his own actions but there are other things that we might empathise with. Frankenstein’s character shows determination and works hard when trying to create the monster. This is evident when he states â€Å"I failed; yet still I clung on to the hope.† For obvious reasons, his hard work was not reflected which is apparent upon seeing the monster. We can somewhat relate to this as he worked so hard and spent much time on his creation but the desired results were not shown at the end. This is where we might feel sympathy for him. Overall, in my opinion I believe that both characters adopt the necessary characteristics in becoming a tragic hero as they both fit in the mould of Aristotle’s definition of a tragic hero. Both characters do have fatal flaws and make errors of judgement which cause them to suffer a downfall in society. The characters then recognise their flaws and realise the wrongs they have done and try to make amends. They also inspire pity or fear, but in these cases, I feel sympathy for both characters, particularly, Henchard as we see a drastic change in personality from the beginning to the end.

Chalk It Up

Chalk It Up Chalk It Up Chalk It Up By Maeve Maddox Having read the post about the expression chock-full, a reader asks, Could you also clarify and explain the origins of â€Å"chalk it up.† I’ve also seen â€Å"chock it up† which I assume is an error.   I’ve also heard â€Å"chop it up† in the same context. The expression â€Å"chalk it up† is one of several English idioms that contain the word chalk. The noun chalk, denoting â€Å"an opaque white soft earthy limestone,† has been in the language since the 10th century. The verb arose from the uses to which chalk can be put, especially for writing, drawing, and marking on a variety of surfaces, from walls to grassy fields. In the past, as now, sports enthusiasts used chalk to mark the field of play and to keep score. Tavern keepers kept track of customers’ accounts by writing amounts owed on the wall or on a slate. Scores for tavern games were also â€Å"chalked up† by the players. Other business owners kept track of accounts in the same way. Amounts owed were â€Å"chalked up.† When a bill was paid, the amount owed was â€Å"chalked off.† Then as now, people sometimes depended upon credit to get by. One of the OED citations given for chalk in the sense of credit is from a song sung by apprentices: â€Å"When we have no mony [sic], We shall find chalk.† Today they might sing, â€Å"When we have no money, We shall find plastic.† Here are a few examples of the use of chalk expressions on the Web: Much of  his  elementary school mischief can be  chalked up  to  boyish enthusiasm. (â€Å"attributed†) I wasnt ready for that so I just  chalked him off  as another friend gone wrong.  (â€Å"dismissed him from my mind†) If it works youll make money, if not,  chalk it up to experience. (â€Å"Consider it to be a lesson learned.†) This is my plan. If  you  can  chalk out  a better, pray  let me  have it. (â€Å"explain, devise†) Many Clouds chalks up win in Grand National (earns) We chalked up his  bad manners  to too much sugar.  (â€Å"attributed†) Our live text reporting on the Conservative Party conference finishes here. But thats not the end of the BBCs coverage by a long chalk.  (â€Å"by any means†) The OED explains the idiom â€Å"by a long chalk† this way: â€Å"in a great degree, by far (in allusion to the use of chalk in scoring ‘points’, etc.) Want to improve your English in five minutes a day? Get a subscription and start receiving our writing tips and exercises daily! Keep learning! Browse the Expressions category, check our popular posts, or choose a related post below:The Meaning of "To a T"40 Fish IdiomsDealing With A Character's Internal Thoughts

Maria Tallchief

Maria Tallchief Dates: January 24, 1925 - April 11, 2013Known for: first American and first Native American prima ballerinaOccupation: ballet dancerAlso known as: Elizabeth Marie Tall Chief, Betty Marie Tall Chief Maria Tallchief Biography Maria Tallchief was born as Elizabeth Marie Tall Chief and changed her name later to Europeanize it for career reasons. Her father was of Osage descent, and the tribe was the beneficiary of oil rights. Her family was well off, and she had ballet and piano lessons from age three. In 1933, pursuing opportunities for Maria and her sister, Marjorie, the Tall Chief family moved to California. Marias mother wanted her daughters to become concert pianists, but they were more interested in dance. One of Marias early teachers in California was Ernest Belcher, father of Marge Belcher Champion, wife and professional partner of Gower Champion. As a young teen, Maria, with her sister, studied with David Lichine and then with Bronislava Nijinska, who in 1940 cast the sisters in a ballet at the Hollywood Bowl that Nijinska had choreographed. After high school, Maria Tallchief joined the Ballet Russe in New York City, where she was a soloist. It was during her five years at the Ballet Russe that she adopted the name Maria Tallchief. While her Native American background led to skepticism about her talent by other dancers, her performances changed their minds. Her performances impressed audiences and critics. When George Balanchine became ballet master at the Ballet Russe in 1944, he took her as his muse and protege, and Maria Tallchief found herself in increasingly prominent roles which were adapted to her strengths. Maria Tallchief married Balanchine in 1946. When he went to Paris, she went as well and was the first American-born woman dancer to perform with the Paris Opera, in Paris and later with the Paris Opera Ballet in Moscow at the Bolshoi. George Balanchine returned to the US and founded the New York City Ballet, and Maria Tallchief was its prima ballerina, the first time an American had held that title. From the 1940s to the 1960s, Tallchief was one of the most successful of ballet dancers. She was especially popular and successful as and in The Firebird beginning in 1949, and as the Sugar Plum Fairy in The Nutcracker beginning in 1954. She also appeared on television, made guest appearances with other companies, and appeared in Europe. Having been trained by David Lichine early in her dance education, she played Lichines teacher, Anna Pavlova, in a 1953 movie. Tallchiefs marriage to Balanchine was a professional but not personal success. He began to feature Tanaquil Le Clerq in key roles, and he did not want to have children, while Maria did. The marriage was annulled in 1952. A brief second marriage failed in 1954. In 1955 and 1956, she was featured at the Ballet Russe de Monte Carlo, and in 1956 she married a Chicago construction executive, Henry Paschen. They had a child in 1959, she joined the American Ballet Theatre in 1960, touring America and the USSR. In 1962, when the recently-defected Rudolf Nureyev debuted on American television, he chose Maria Tallchief as his partner. In 1966, Maria Tallchief retired from the stage, moving to Chicago. Maria Tallchief returned to active participation in the dance world in the 1970s, forming a school connected with the Chicago Lyric Opera. When the school was the victim of budget cuts, Maria Tallchief founded her own ballet company, the Chicago City Ballet. Maria Tallchief shared duties as artistic director with Paul Mejia, and her sister Marjorie, also a retired dancer, became the schools director. When the school failed in the late 1980s, Maria Tallchief again became associated with the Lyric Opera. A documentary, Maria Tallchief, was created by Sandy and Yasu Osawa, to air on PBS in 2007-2010. Background, Family Father: Alexander Joseph Tall ChiefMother: Ruth Porter Tall Chief (Scots-Irish and Dutch ancestry)Siblings: one brother; sister Marjorie Tall Chief (Tallchief) Marriage, Children husband: George Balanchine (married August 6, 1946, annulled 1952); choreographer and ballet master)husband: Elmourza Natirboff (married 1954, divorced 1954; airline pilot)husband: Henry D. Paschen (married June 3, 1956; construction executive)daughter: Elise Maria Paschen (born 1959; poet, writing teacher) Education piano and ballet lessons from age 3Ernest Belcher, ballet teacher (father of Marge Champion)David Lichine, student of  Anna PavlovaMadame (Bronislava) Nijinski, sister of Vaslav NijinskyBeverly Hills High School, graduated 1942

Managerial and Cost Accounting Assignment Example | Topics and Well Written Essays - 2500 words

Managerial and Cost Accounting - Assignment Example This is because managerial accounting provides information and reports that may be used by organizations to identify areas within the organization that needs additional investigation and examination. Managers use information provided by managerial accounting such as budgets to make decisions and plans. The information provided by managerial accounting can be used by managers to solve problems. Therefore, managers can use such information to develop alternatives to issues arising from budgets and production changes. Managerial accounting information is used by managers to make estimations of product and service costs and profitability. In addition, managers understand customer orientation through managerial accounting. Managers are able to evaluate the business from the cross-functional perspective by use of managerial accounting information. Managerial accounting also provides information that is useful in improving total quality by an organization (Rich and Jones 667). Through manag erial accounting, managers can formulate and implement an organization’s strategic activities. It also enables managers to do their work efficiently and effectively, adding value to the organization. This is because managerial accounting creates organizational alignment throughout the organization and facilitates continuous learning and improvement (Davis and Davis 4). This paper investigates the application of management accounting practices in one of the Saudi organizations, SABIC. In the analysis, the use of both financial and managerial information in decision making are evaluated. This analysis is done in comparison with the application of MAPS by UK companies that produce foods and drinks. The study also analyses the financial and nonfinancial benefits of using MAPs to an organization. This study fills the gap that exists between literature and practice. The information of this study can also be used in the educational sector. Literature Review In 1993, Altamira and Maj bour carried out a research on management accounting in Saudi Arabia. This study was a comparative analysis of Saudi and Western approaches, which investigated the differences and similarities in management accounting practices between companies owned and managed by Saudis and joint venture companies in Saudi (Altamira and Majbour). In the investigation, the managerial use of accounting, a sophistication of management accounting systems and the role of accountants in decision making and control were investigated. Similarities and differences between the researched companies in terms of accounting system sophistication and managerial use of accounting and the accountants’ role of in decision making and control were also studied (Altamira and Majbour). The study was only descriptive. It was established from the study that Western joint venture companies based in Saudi Arabia have sophisticated accounting systems, compared to Saudi owned and managed companies (Altamira and Majbo ur). Also, accountants of Western joint venture companies based in Saudi Arabia play a greater role in decision making and control, compared to Saudi owned and managed companies. In addition to the aforementioned findings, it was found out, in the study, that managers of Western joint venture companies based in Saudi Arabia fully depend on accounting information in decision making and control (Altamira and Majbour).

See attachment Essay Example | Topics and Well Written Essays - 1000 words - 1

See attachment - Essay Example H. L. , Goodall , S., Schiefelbein, J. 2010) . The article essentially seeks to establish a paradigm of behavior that can be attributed to the culturally homogeneous workers and then their response to the heterogeneous work place environment. While global communication processes in business environments have both a typology of characterization and cultural pluralism as pre-determinants, there is also a system of category constructs in an otherwise complex and dynamic situation mediated communication environments. Despite a lack of research in to information dissemination process and language as heuristics directly related to global business communication environments there is still a greater effort by serious researches to establish parameters of reference for meaningful category construct in dynamic culturally plural communication contexts. The article has invariably touched on how the workplace context determines almost virtual communication scenarios theoretical dimension apart the authors have delineated a host of cultural constructs including language and information as pre-determinants of an otherwise non cohesive and heterogeneous work environments. Despite this authors have persisted in constructing a more cohesive alternative approach to understanding work place dynamics in professional business communication processes. Their culture perspective is directly related to inter cultural communication as a dynamic relationship between and among fellow workers. The contextual influence and rational behavioral heuristics have not been ruled out by the authors either. In fact their argumentative posture on â€Å"culture-in-context† is supported by a number of other influential writers as a paradigm of professional communication in the work place context, though many such writers do not necessarily subscribe to t he idea of endogenous cultural influences riding roughshod over facilitative

Rights of Management Essay Example | Topics and Well Written Essays - 500 words

Rights of Management - Essay Example own as The Labor Management Relation Act Of 1947 is law that marked a radical change in the federal regulation of industrial relations (Carper et al, 2008). This change was created after a vast number of large scale strikes were held to an extent of nearly disabling the steel, automobile and packing industries among others in the United States. These work mayhems severely affected the economy leading to panic from public. This act, which was an adjustment to the Wagner Act of 1935, was made to benefit all the parties that were involved in the labor agreement as the employees, employers and the labor union (Beik, 2005). Its passage of 1947 added new necessities to the former ‘which meant that its actual meaning would now depend upon the interpretation by the National Labor Relations Board, as well as, the courts’. Taft –Hartley Act placed restrictions on unions that were already imposed on the employer which dictated that it was unlawful to contain workers who wanted to exercise their rights for self organization. (Dubinsky, 1994). Moreover, secondary strikes, boycotts and sympathy strikes especially those that were intended to influence employers, as opposed to those that the Union had contract with. Its first amendment entailed right to free speech that had been severely limited by the former laws, giving chances to employers to air their ideas on unionization only if the ideas are not incisive with threats or promises to employees. It also restricted the liability of employers based on managers’ actions to those who would be considered as a section of supervisors’ official duty. Additionally, the Act allowed states to enact right to work laws which illegalized the setting of union membership as employment condition although some states chose it while others bargained f or changes to avoid conflict of interest. According to Carper, et al. 2008, the Act made recommendation for the contract of labor to on either sides to bargain in good faith on the

Sales force automation Essay Example for Free

Sales force automation Essay Introduction. Sales Force Automation is a technique of using software to automate the business tasks of sales, including order processing, contact management, information sharing, inventory monitoring and control, order tracking, customer management, sales forecast analysis and employee performance evaluation(Thomas, M.S Michael, S.M 1996). This revolution that is sweeping through society is changing the nature of selling. For last 150 years, traditional selling process bases on the two ways communications, that is salespeople to customers, customers to salespeople. Such face-to-face selling or in-person selling can require a lot of time, energy, and expense, but the payoff can be tremendous. Despite all of the new high-tech alternatives, an in-person sales presentation is the single most powerful marketing tool in use today. National television advertising, telemarketing, e-mail, or print advertising have nowhere near the ability to motivate a particular customer to actually place an order as does face-to-face selling (David, G. H Mckee, D 1999). Discussion. Face to face communication in sales force. Social trends point to the increasing need for face-to-face communication in efforts to change peoples attitudes and behaviors. That communication is simply a method of sending a message from one person or group of persons to another, which the communication process is the most natural and the most familiar. It is direct, immediate and responsive. We can perceive reactions at once and can modify our own behavior to clarify the message. It is vital importance to salespeople whom use this communication tool with their potential buyers of a product with the intention of making a sale; also they can focus initially on developing a relationship with the potential customers with an attempt to close the sale'(Pyle, J. 2004). Does face to face is the best way to communicate? In the small business, Personal selling involves face-to-face interaction between buyer and seller, which is a very important part of a stores effect to communicate with its customers. Sellers are able to have exclusive contact with the buyer and clearly articulate the benefits of the product or service. And buyers are able to get personal attention and have their questions answered fully (Personal selling, 2005). It creates a mutually beneficial situation in which both buyer and seller feel they are meeting their objectives. During face to face communication, one essential part of effective communication is feedback. Only in personal selling does the potential for a clear feedback channel exist. Even cashiers are salespeople in the sense that they convey a message to the customer. As salespeople interact with customers, they not only hear verbal responses, but also see smiles, frowns, and nods. The verbal responses and the nonverbal reactions provide feedback. These responses help salespeople modify the sales message to the specific needs of the customer (Personal selling, 2005). A successful selling can be made via face to face communication because it is an effective strategy that both salespeople and customer can see each others characteristics, body language, gestures, facial expression, intonation, or words to make a sufficient judgment, and it is also a powerful selling method for building a stronger relationship with the potential customer. Unquestionably, the face-to-face communication that takes place in the personal selling situation that can (1) clearly identify and translate product features into benefits and satisfactions that solve customers problems and fill their needs; (2) pinpoint the customers uncertainties about purchasing and provide knowledge and information to reduce these uncertainties; (3) provide specific rational psychological reasons that help the customer make a purchasing decision; and (4) build trust between organizations and its potential customer (The Importance of face to face selling, 2003). One research point out that most managers think that Face-to-face sales method can carefully explain the new process or product to their customers (Martin, C .2005). However, the major disadvantage of personal selling through face to face communication is the cost of employing a sales force. Sales people are expensive. In addition to the basic pay package, a business needs to provide incentives to achieve sales, such as commission, bonus arrangements, and the equipment , such as car, travel and mobile phone, to make sales calls (Personal selling, 2005). Moreover, there is not a cost-effective way of  reaching a large audience in now faster society. A sales person can only call on one customer at a time. In other words, salespeople need to go to the prospective customer in order to demonstrate or illustrate the particulars about the product or service. For reaching a large customer; salespeople will be taking a lot of time to achieve the goal (The Importance of Good Communication, 2005). Sales force automation- SFA. Following by the rapid and continuous drop in the price of computing and the businesses are increasingly global that joined with advances in communications technology; the structure and process of selling have altered the competitive environment (David, G. H Mckee, D 1999) . Technology makes salespeople more effective and productive because it allows them to provide accurate and current information to customers during sales presentations. Sales force automation (SFA) implies that technology can be used to speed up previously inefficient operations of a company, which the Internet and related technology have affected the personal selling process (Thomas, M.S Michael, S.M 1996 Yudkowsky, C, 1998). Product information on Web sites is available to customers and prospects. In the past, salespeople delivered this information to the customer by face to face. The Internet releases salespeople to focus on the most important aspects of their job, such as building long-term relationships wit h customers and focusing on new accounts. Information is shared among users in every department that contact with the customer. Also, information sharing promotes more effective channel partnership. In fact, salespeople use computers to connect them (through the Internet) to their own companys databases when they are out on sales calls. This gives them the ability to provide the customer with extensive, relevant information almost immediately (Sapru, P, 2005). It reduces administrative tasks for salespeople and makes them better prepared for every sales call. A successfully implemented SFA solution can improve the productivity and efficiency of the sales team, which can result in higher customer satisfaction and higher revenue per customer of a company (Thomas, M.S Michael, S.M 1996). Salespeople become intelligence agents in the field when they feed that information directly into the data resources shared by the  rest of the sales force and the company at large. SFA is becoming vital selling tools that can be used to communicate through a global basis; also, it is a most cost- effective way that the business can reach its large customer globally. According to the estimated, the advantages of using sales automated technology can increase at a rate of 40% annually include the ability to generate sophisticated multimedia presentations, to create internal communication systems, to monitor sales rep progress, and to keep databases of customer histories (Yudkowsky, C, 1998). In the book Virtual Selling, the author indicated that SFA is rapidly rising to the forefront salespeople of the business computing market (Thomas, M.S Michael, S.M, 1996) Conclusion. Marketing communication tools definitely has been changed. Sales force automation provides a cost-effective way of a companys salespeople expenditures, innovations in opportunity, immediately contact, activity, and account management as well as automatic quoting, product configuration, research, and reach a large customer (Yudkowsky, C, 1998). However, face to face selling can be more successful to reach peoples heart and build a stronger relationship in accomplish a selling objective. The problem is not which mode of communication is used; it is the quantity and quality of the produce/service content need to be considered. There is no one way to communicate well; each method has strengths and weaknesses. It is the balance of the methods, using their strengths and avoiding the weaknesses that will make good communications. As selling a car, house and insurance, face to face communication is a crucial requirement that salespeople need to build the trust, product value and satisfy customer needs in the entire selling process (Selling a car, 2004 Business Family Champion, 2005). Although SFA has changed the way of both selling and purchasing process, customers have more choice than ever before, as their can choice any thing by the click of a mouse. Yet face to face communication is the only way that salespeople can build a real trust, and interpersonal relationship in humans life.

Bond Pricing and Interest Rates

Bond Pricing and Interest Rates Bond Pricing And The Term Structure Of Interest Rates: A New Methodology For Contingent Claims Valuation We read the paper Bond pricing and the term structure of interest rates by Heath, Jarrow, and Morton. Their paper presents a theory for valuing contingent claims under a stochastic term structure of interest rates. The methodology takes as given an initial forward rate curve and a family of potential stochastic processes for its subsequent movements. A no arbitrage condition restricts this family of processes yielding valuation formulae for interest rate sensitive contingent claims which do not explicitly depend on the market prices of risk. In relation to the term structure of interest rates, arbitrage pricing theory has two purposes. The first is to price all zero coupon (default free) bonds of varying maturities from a finite number of economic fundamentals, called state variables. The second, is to price all interest rate sensitive contingent claims, taking as given the prices of the zero coupon bonds. The primary contribution of this paper, however, is a new methodology for solving the second problem, i.e., the pricing of interest rate sensitive contingent claims given the prices of all zero coupon bonds. The methodology is new because (i) it imposes its stochastic structure directly on the evolution of the forward rate curve, (ii) it does not require an inversion of the term structure to eliminate the market prices of risk from contingent claim values, and (iii) it has a stochastic spot rate process with multiple stochastic factors influencing the term structure. The model can be used to consistently price (and hedge) all contingent claims (American or European) on the term structure, and it is derived from necessary and (more importantly) sufficient conditions for the absence of arbitrage. The Difference Between Duration And Maturity In Bonds Based on the article: Bond Price Volatility and Term to Maturity: A generalized Re-specification Most investors and especially we who are taking the course Fixed Income Securities are familiar with the bonds maturity. The article wants to illustrate why we cant just rely on the length of maturity when estimating how volatile the price for a certain bond is. As we have read before during the course, there is a common and accepted thumb rule that tells us that for a given change in yields, the price change for the bond will be greater the longer the term to maturity is. Therefore I first of all want to highlight the difference between the duration and maturity. Firstly I will have a short explanation of these two terms and further I will continue this paper by explain some important parts from the article. When it comes to maturity, we all know the maturity is the point in time when the investor receives back the principal. We also know that a bond will increase in value, that is, the price of the bond will increase, if the interest on the market decrease and vice versa. From this statement above, it may be clear that the longer maturity, the more changes in the interest rates can be waited and the more volatile the bond price will be. The duration of a bond will show how sensitive a bonds price is to changes in the interest rate. Its a measurement for how much the bond price will change due to a one percentage change in the interest rate on the market. Duration of 7 means for instance that if the interest rate raises by one percentage means that the price of the bond will fall 7 percentages. The duration is simply the weighted average amount of time that it takes for the investor to be repaid all cash that is both the coupon payments and the end, principal payment. Therefore the duration will always be less than the maturity, except for zero-coupon bonds where they will be equal. These two properties are important when it comes to duration: The first one is that the longer the maturity, the higher the duration. The second one is that the lower the coupon payment the higher the duration. With these facts above, I want to highlight the important aspect of this what the article goes through. Indeed, the price volatility is connected to the time structure of the bond, but its not direct mathematically related to the maturity in a pure simple way. Since there are evidence that duration is more accurate, the authors for the article wants to generalize the following: For a given basis point change in market yield, percentage changes in bond prices vary proportionally with the duration and are greater, the greater the duration of the bond. There is also true that there is an inverse relationship between duration and coupon. This means that a higher coupon bond will automatically be seen as a shorter-term bond than a bond that has a lower coupon payment, even if they in fact have the same maturity period. Furthermore, this means that a comparison of these bonds with equal maturity will underestimate the default risk premium in periods of upward sloping yield curves and also overestimate the premium in periods of downward sloping yield curves. For instance, referred to the above information, there is evidence that the duration varies inversely with coupon rates. A 50 year 8 percent coupon bond, yielding 6 percent, have approximately the same duration as a 20 year 2 percent coupon bond yielding the same amount of 6 percent. To sum up the article and this paper, I want to highlight the complexity of the relationship between the bond price volatility and the maturity, as well as the relation between then bond value and the duration, even if I believe that duration is a more accurate measurement of price volatility. Expectations, Bond Prices, And The Term Structure Of Interest Rates The term structure of interest rates is of great importance when dealing with bonds, since the interest rate significantly affects the bond price. Burton G. Malkiel examines the relationship between market interest rates and bond prices in his article Expectations, Bond Prices, and the Term Structure of Interest Rates, where he takes the position that Lutz theory of Basic Behavioural postulate is correct and important in understanding the behaviour of market interest rates of securities with different term to maturity. Lutz says that investors decide whether to invest in bond based on their expectation of future short rates, since they are not able to predict long term rates. Malkiel furthermore aims to ease the principle hypothesis by Hicks and Keynes, that future prises are biased expectations of future spot prices. A bonds market price or value is determined by four factors: the face value of the bond; the coupon or interest paid periodically to the bondholder; the effective interest rate per period; and the number of years to maturity. The lower interest rate, the higher the bond price hence the significant relationship between the two factors. The term structure in this sense is important since the investor wants to choose the term and bond that is most beneficial. According to Malkiel, the term structure is based on investors expectations, which is influenced by the normal range of interest rates. If interest rates appear to be very high relative to the normal range, investors may expect that interests will fall and vice versa. The term structure problem is furthermore analysed with a combination of spot and forward trading, resulting in longer term rates as combinations of relevant forward short rates: (1 + R2)2 = (1+r1)(1+r2). When long-term average rates are below the current short rate future short-term rates are expected to fall, and conversely, long rates will exceed the current short rate if future short rates are expected to rise. Additionally, when interest rates are believed to be high in relation to historical averages, investors will prefer long-term bonds while issuers prefer to sell short-term securities, whilst low interest rates will encourage investors to buy shorts and issuers to sell longs. Supporting Lutzs theory, Malkiel makes the conclusion that short and intermediate areas of the yield curve exhibit more dramatic responses to changes in expectations. This is due to the fact that investors cannot predict the long term rates; they only interpret the near past and current market conditions. What is also worth mentioning is that the term structure fluctuates more between e.g. one to two years, and three to six years, compared to a very long period of time, e.g. thirty-four and sixty-eight years. This is also due to the fact that it is difficult to predict changes in interest rates for such a far away future. This furthermore explains that the yield curve tends to flatten out the longer term to maturity. To conclude, investors will choose to purchase bonds depending on their expectations of how interest rates will change in the near and long-term future, the term-structure, and that presumably would be most beneficial in terms of bond price and returns. Does Duration Extension Enhance Long-Term Expected Returns? The articles main purpose is to give investors important information regarding duration and if you can gain a profit or not in the long-term. The author is using empirical evidence mainly from the U.S. Treasury bond market over the past 25 years. All the results of the past returns depend on the interest rate trend in the period the authors are looking at. The focus in the article lies on the long-run expected return differentials across bonds with different maturities. The risk premium is defined as the long-term return exceeding short-term risk-less rate. The writer means that the one-year bill earns on average 150 basis points higher return than one-month bill and after two years the yield curve will remain a constant line. In other words the return of the bill will stay reasonably the same at two years but recall that long-term bonds are riskier than short-term bonds because it is difficult to predict the future. In other words it is uncertain how much the bonds are worth in the long-term because there are many different causes that affect the value in the future. The article discusses the bond risk premium using six theories. There are three classic term structure hypotheses. The first is called pure expectations which means assuming that there is no risk premium. The second is the liquidity/risk hypothesis explaining the compensation for return volatility. The third explains the increase and decrease with duration depending on time horizon called the preferred habitat theory. Ilmanen presents two modern asset pricing theories. One that explains the risk premium proportional to return volatility and the other one that clarifies CAPM. The latter explains that the risk of assets depends on the sensitivity to aggregate wealth as in stock market sensitivity (ÃŽ ² correlation) and risk premium (ÃŽ ² Market risk premium) which in turn depends on market volatility and risk aversion level. Equilibrium model means assets performing poorly in bad times should earn positive risk premium while assets performing well are accepted for low yields but other non-risk related factors are also mentioned. To sum up the article long-term bonds are riskier than short-term bonds and investors earn positive risk premium for bearing this risk. Various models specify that expected returns are linear in duration and return volatility but other factors may contribute. References Longstaff, F. A., and E. S. Schwarz (1992), Interest Rate Volatility and Term Structure: A Two-Factor General Equilibrium Model, Journal of Finance, Vol. 47(4), pp. 1259-1282. Heath, D., R. Jarrow, and A. Morton (1992), Bond Pricing and Term Structure of Interest Rates: A New Methodology for Contingent Claims Valuation, Econometrica, Vol. 60(1), pp. 77-105. Hopewell, M. H., and G. G. Kaufman (1973), Bond Price Volatility and Term to Maturity: A Generalized Re-specification, The American Economic Review, Vol. 63(4), pp. 749-753. Malkiel, B. G. (1962), Expectations, Bond Prices, and Term Structure of Interest rates, The Quarterly Journal of Economics, Vol. 76(2), pp. 197-218. Ilmanen, A., (1996), Does Duration Extension Enhance Long-term Expected Returns? Journal of Fixed Income, September, pp. 23-36.