Wednesday, July 31, 2019

John Nash

Using the current Diagnostic and Statistical Manual for Mental Disorders (DSM IV-TR) John Nash has been given the primary diagnosis of being undifferentiated. Plus abnormalities of the brain structure and function, disorganized speech and behavior, delusions, and hallucinations. Nash often has panic attacks, withdrawal from social activities, and loss of attention to personal hygiene and grooming, and the inability to separate real form unreal events. John Nash is classified under Undifferentiated Type because he had a number of symptoms such as delusions, disorganized behavior, disorganized speech, and hallucinations. He believes he is being forced to work for the government to decipher codes. That they inserted a coded chip in order to keep track of him, and if he doesn’t comply with their wishes, they will expose him to the Russians, who in turn will kill him. This interferes with his personal and work life tremendously. He also thought the imaginary person William Parcher, who belonged to the United States Department of Defense, was out to get him. In his mind, William Parcher was black-mailing him to do as he was told, or the US government would have him killed. I also believe that Nash could also be classified with anxiety and depression because after leaving the mental hospital, he wasn’t able to work, wasn’t able to properly take care of his child, or even feel attracted to his wife. Axis II: Schizophrenia Nash would be determined best under Schizotypical Personality. Nash has excessive social anxiety at times, few or no close friends, paranoia and suspiciousness, and odd disorganized speech. Axis III: John had a late onset of symptoms starting at around age 30. His first hallucination was that of a roommate who moved in shortly after he started at Princeton. His Thoughts are delusional and paranoid. He thought no one liked him and he had no close friends or relationships. He thought that every one of his peers where beneath him. He also thought he was a government agent. He thought people where following him, and he would show paranoid behavior by looking out the windows and over his shoulder. Axis IV: John Nash is a 51 year old, Caucasian male. He has a family wife and child,and is exceptionally smart. Nash’s stress can be blamed on his wife not understanding his problem or he felt like she did not believe him. Another is when Nash came home from the mental hospital and was brought into a house with a new child, which would be a big environmental stressor. He did not know how to take care of the child properly. Also, a new job promotion at Princeton University was also a stressor. Axis V— between 31 and 40 On the Global Assessment of Functioning Scale, I believe Nash is in between 31 and 40. John Nash had disorganized speech and disorganized thoughts. John Nash is extremely intelligent has no learning disorder and also had a strange fixation with mathematics. Treatment: Some medication individual psychotherapy so that the Nash can get regularly talked to, focuses on current and past events or problems, experiences, thoughts and feelings. Cognitive-Behavioral Conclusion: John Nash will probably never be completely cured of his mental disorders but the treatment plan that I recommended for him should make him suitable to certain thing so that he can fit into a normal society.

Tuesday, July 30, 2019

Bighorn Sheep

~ The bighorn sheep is a species of sheep in North America named for it‘s large horns. ~ Their horns can weigh up to 30 pounds , while the sheep themselves weigh up to 300 pounds. ~ Ovis Canadensis is the scientific name of the bighorn sheep. ~ Male bighorn sheep or â€Å"rams† are easily identified by their large spiral horns which grow throughout their lives. An adult ram's horns may measure over 30 inches each in length and reach 15 inches in circumference at the base. Female bighorn or â€Å"ewes† have slender, straighter horns that grow throughout their lives to lengths of 8-10†³ for Rocky Mountain bighorn ewes and 12-17†³ for desert bighorn ewes. Young bighorn that are less than 1 year of age are referred to as lambs. ~ At the beginning of the nineteenth century, bighorn sheep in North America were estimated to number between 1.5 and 2 million, but today less than 70,000 remain. In the late 1800's, hunting, competition from livestock grazing, and diseases introduced by domestic livestock devastated bighorn populations. Although problems with domestic livestock are subsiding, they still exist and are now accompanied by accelerating habitat loss and human disturbance. Habitat loss and fragmentation are recognized as the most significant threats facing bighorn sheep today. Natural predation from mountain lions, coyotes and bobcats also pose a risk to bighorn populations that have dwindled to low numbers. ~ An entire subspecies of bighorn sheep, the Audubon bighorn, which inhabited parts of Montana, North Dakota, South Dakota, Wyoming and Nebraska was extirpated by 1925. At various times in the early 1900's, bighorn sheep were extirpated from the states of Washington, Oregon, Texas, North Dakota, South Dakota, Nebraska, and the Mexican states of Chihuahua and Coahuila.Fortunately, many populations have been re-established through transplanting bighorn sheep from healthy populations to vacant habitat ~ Rams typically live 9-12 years, while ewes usually live 10-14 years ~ Although the diet of bighorn sheep varies according to the habitat and season, bighorn primarily eat grasses, shrubs, and forbs. Some favorite shrubs for desert bighorn sheep are acacia or catclaw, encelia, sweetbush, and krameria. Generally, bighorn sheep are opportunistic feeders that adapt their diet to the forage available. ~Mountain lions, wolves, bobcats, coyotes and golden eagles are predators of bighorn sheep. Eagles have been known to prey upon lambs, but they are unable to kill adult bighorn. Predation is usually not a problem for healthy bighorn populations; however, when bighorn are supressed by other factors, predation can limit recovery and potentially drive a population to extinction ~ The breeding season, or rut, generally extends from August-November for desert bighorn sheep and October-January for Rocky Mountain and California bighorn sheep. It is during this time that rams clash heads to fight for dominance. In each band of rams there is a dominance order, and the higher ranking rams do most of the breeding. Genetic studies are currently underway to determine the percentage of breeding completed by dominant and subordinate rams. Bighorn sheep have an approximately 6 month gestation period and most ewes give birth to one lamb per year.

Mengchao Essay

Arley Merchandise Corporation Objectives and Synopsis Teaching Plan This teaching plan organizes the class as follows: Valuation of the Arley â€Å"right† †¢ Why include the ten-year note alternative? †¢ American- vs. European-style exercise? †¢ Similarities to a convertible subordinated debenture †¢ The choice made and the aftermath †¢ Valuation of the Arley â€Å"Right† Consider first the case where the right is exercisable into $8 of cash. The unit proposed for sale in the Arley financing then can be characterized as the sale of a share of common stock plus a two-year European put option with a strike price of $8 or, alternatively, through put-call parity, as the sale of a two-year zero-coupon note with face value $8 plus a two-year European call option on common stock with an exercise price of $8. Thus, the value of the unit can be broken down in two ways: Market value of the unit = Market value of stock + market value of put option = Market value of zero-coupon bond + market value of call option Applying the Black-Scholes model with a two-year riskless rate of 11% per  annum, an initial stock price of $6.50, and a volatility of 40% (as indicated in the assignment question), yields values of the put and call options of $1.44 and $1.45, respectively.1 Exhibit 4 shows historical volatility data for comparable firms. The instructor can engage the students in a discussion of how to use this information in the analysis. The Appendix to this teaching note contains a discussion of these comparables and sensitivity analysis. However, Black-Scholes is not necessarily applicable because of default risk associated with this particular put option. That is, put option holders will wish to exercise their right to receive cash at precisely the time that Arley’s stock is low, which is also when the firm will least be able to fund the $8 payment. Thus, the standard Black-Scholes formula, which assumes no default risk in the option, will overestimate the value of the right. To correct ly value the put option requires a model of default risk in addition to the underlying equity risk.2 Luckily, in this instance, the above put-call parity relation provides a simple and indirect way of valuing the right, since it separates stock price risk from default risk. There is little, if any, default risk associated with the call option, as holders will wish to exercise their right at a time when the firm 1 The put and call values are almost equal since the strike price of $8 is very close to the beginning stock price of $6.50 plus  riskless interest. 2 See, for example, H. Johnson and R. Stultz (1987), â€Å"The pricing of options with default risk,† Journal of Finance, 42, 267-280. What remains is to value the zero-coupon note. This is a question purely of credit risk, the price of which can be approximated using Exhibit 5, which contains yields on straight debt of lowrated issuers comparable to Arley. The issues in the Exhibit are priced at spreads as high as 3.5% over Treasurys. Arley’s subordinated debt would probably carry a Ba or B rating, and would thus require a yield at the high end of the range. Assuming a flat term structure for the credit spread, the required spread on two-year Arley debt is about 3.5%, or a yield-to-maturity of 14.5%. Discounting $8 at 14.5% per annum for two years gives a value for the two-year zero-coupon note of $6.10. Adding the value of the two-year note ($6.10) to the value of the call option ($1.45) yields an estimate of $7.55 for the value of the total package. The implied value of the put option is therefore $7.55 – $6.50 = $1.05. The implied value of the put option is therefore $7.55 – $6.50 = $1.05. This can be summarized as: Note + Call $6.10 + $1.45 = Unit = Stock + Put = $7.55 = $6.50 + $1.05 The difference of $0.39 between this value of the put option and the Black-Scholes value of the put option ($ 1.44) is the diminution in value of the option due to issuer default risk. The analysis so far has assumed that the put option is exercisable into cash. In general, and ceteris paribas, the issuer’s option to substitute debt for cash upon exercise of the option reduces the value of the right even further. However, this assumes the stock price of $6.50 is unaffected by the nature of this contract. For example, the flexibility to substitute debt for cash may significantly reduce the likelihood of financial distress and enhance overall firm value. Here, the value of the right is likely to be significantly diminished by the flexibility to substitute debt since the debt is unlikely to be worth as much as $8.00/ unit when issued. In late 1982 and early 1983, the lowest class of investment grade debt (Baa) sold at a yield of about 125% of the ten-year Treasury debt yield. Baa debt was trading at a yield which was only 116% of ten-year Treasury yields. As surmised earlier, Arley’s subordinated debt would probably carry a Ba or B rating, and would thus require a yield substantially higher than Baa-rated debt. In addition, the maximum issue size of subordinated debt issued in exchange for Arley units would amount to only about $6 million (750,000 x $8.00). Trading would be extremely thin and the issue would be highly illiquid. It would trade at a still higher yield for this reason. In all, it appears that the Arley package was somewhat overvalued by the underwriters (assuming a value of $6.50 for the common stock). Why Include the Ten-Year Note Alternative? The information asymmetry issue raised earlier in this note is important in understanding the significance of the inclusion of the ten-year note  alternative. The strength of management’s conviction regarding the certainty of future forecasts can be reflected in the form in which it chooses options for honoring the guarantee obligation. Management’s stock ownership position will also play an important role in this choice. A management with little stock ownership will convey the strongest position of certainty if it restricted its options in honoring the guarantee to only cash. The weakest conviction will be conveyed 3 if the options included the exchange of the right for additional common shares to bring the value of each Arley unit up to $8.00. This outcome would simply reallocate the equity value among Arley’s shareholders without exposing the management to any default risk and potential loss of employment. In companies where management owns little stock, as the options available for meeting the guarantee expand along the spectrum of cash, senior debt, subordinated debt, preferred stock, and common stock, the strength of management’s conviction about the future should decrease in the minds of investors. A management with significant stock ownership would convey the strongest  position of certainty if shareholders could collect their value guarantee in either cash or market value of common stock at the option of the owner of the right. This arrangement would expose management to both default risk (and possible loss of jobs) as well as disastrous dilution of their accumulated wealth position if the stock price declined but the company was not in danger of default on the put. The underwriters have suggested a prudent and practical position with regard to the form of the options the company will have available for honoring the guarantee, but (given the fact that Arley’s management owned over 50% of the company’s stock) this is also one of the weakest positions possible in terms of the persuasive power of its information content to investors. Information content is obviously only one factor for Arley to consider in making its decision. The need to preserve financial flexi bility under adverse circumstances is probably the most critical factor, and Arley’s management would retain this flexibility, in the form of the option, to issue a subordinated debt to honor the guarantee. American- vs. European-Style Exercise? A design question was whether holders of the security should be able to exercise their right at a specific point in time (European-style), or at any time until the expiration date (American-style). Arley favored a European-style exercise option. This made it possible to plan for and finance a mass redemption, rather than confronting one at an unexpected and inconvenient time. Similarities to a Convertible Subordinated Debenture The proposed Arley security can be viewed as a convertible subordinated debenture with somewhat unusual terms. The principal variations are: The conversion period expires in two years instead of spanning the life of the debenture (or until the debenture was called); In exchange for a two-year grace period on interest payments, Arley unit owners will receive what is intended to be a â€Å"market rate† of interest on the security for the balance of its life. Normally, convertible subordinated debentures carry a below-market rate of interest (Exhibit 5); The life of the issue is twelve years rather than the more typical twenty to twenty-five years for a convertible subordinated debenture (Exhibit 5). Since the Arley issue is conceptually and economically similar to a convertible subordinated debenture, why didn’t Arley simply issue a convertible subordinated debenture with terms  equivalent to the proposed Arley units? There were two good reasons favoring the proposed Arley issue: Since Arley had no publicly traded common stock, buyers of any Arley convertible subordinated debenture would have no traded equity security against which to price the debenture. A liquidity problem (only 6,000 debentures would be available for trading) would exacerbate the pricing difficulty. †¢ The â€Å"retail optics† of the Arley issue are better than the equivalent convertible subordinated debenture. The proposed Arley unit can be marketed as an issue with a two-year money-back guarantee. The unit would almost certainly be sold to retail investors and might trade at a higher price than the equivalent convertible subordinated debenture. The Choice Made and the Aftermath The proposed Arley unit was sold in the form described in the case on November 14, 1984. Management had hoped that the units could be described as equity, but Arley’s accountants had argued that the securities would have to be accounted for on a line entitled â€Å"Common stock subject to repurchase under Rights,† which fell between the debt and equity accounts on the Arley balance sheet. The operating performance of the company and the performance of its stock price following the offering were both disappointing. Earnings per share fell (versus the similar quarter in the prior year) for five successive quarters immediately following the offering (Exhibit TN-1). The  price of the Arley units fell after the offering, and did not recover to $8.00/unit for fifteen months (Exhibit TN-2). The right traded well below the anticipated level of $1.50. Trading volume in the units and common shares combined averaged only about 50,000 per month, or about 1,500 per trading day. Vo lume in the rights averaged only 1,000 per trading day. In July, 1986, Arley management announced that they had agreed to accept a leveraged buyout offer at $10.00/share for all of the company’s common stock from a group of middle-level managers at the company. In May, 1985, a similar offering was made by Gearhart Industries which raised $85 million at a premium of 23% above its then common stock price of $10.75/share. This offering featured five put dates at one-year intervals from one to six years following the offering date. The company also had the option to honor the put (at a price which escalated above the $13.25/unit issue price at the rate of 10%/ year) in common stock or preferred stock as well as subordinated debt. The option to satisfy the guarantee with an equity security removed the need to characterize the security as anything other than equity for accounting purposes. Gearhart’s stock price collapsed after the offering. The right was designed to put a floor under the value of the Gearhart unit at the $13.25 offering price but this obviously was not the case as shown in Exhibit TN-3. The Arley and Gearhart cases are good examples of situations where the risk of default can enter significantly into the value of a put option. Here, it is when the put is to the company itself rather than to a third party of high credit quality. Exhibit TN-1 Arley Merchandise Corporation Earnings Per Share by Calendar Quarter, 1983-1986 1983 1984 1st Quarter .20 2nd Quarter .33 .20 .25 4th Quarter .30 *.28 1986 .16 .20 .08 .22 .20 op yo 3rd Quarter 1985 * First Earnings Report following Initial Public Offering. November 1984 Share + Right 5 1/2 1/2 January 1985 6 1/2 1/2 February 6 1/8 N.A. March 6 7/8 1/8 7 April 6 1/2 1/8 6 5/8 May 6 3/4 1/8 6 7/8 June 6 3/8 1/8 6 1/2 July 6 1/8 3/8 6 1/2 August 5 7/8 5/8 6 1/2 September 5 3/4 3/4 6 1/2 October 5 3/4 1 1/8 6 7/8 tC op yo December 6 7 N.A. November 6 7/8 6 7/8 December 5 7/8 3/4 6 5/8 January 1986 5 7/8 1 1/4 7 1/8 February 6 7/8 N.A. N.A. 7 7/8 1/8 8 7 7/8 1/8 8 March April November 1985 7 1/4 4 1/8 December 7 5/8 3 3/8 January 1986 5 1/4 4 7/8 February 4 3/8 6 March 3 3/4 6 April 2 5/8 3 3/4 6 3/8 May 3 1/4 4 1/4 7 1/2 Share + Right 11 3/8 11 10 1/8 10 3/8 9 3/4 Appendix Comparables and sensitivity analysis Normally, students encountering options are given either historical or implied volatility data. In this instance, as Arley does not yet have publicly traded stock, neither of these standard sources of data is available. However, the case does give data on a set of comparable firms; none had traded options, so all of the data given is historical volatilities. The instructor can engage students on the issue of how to use this volatility data. The average volatility ranges from 18% to 39%, and averages 28% for the most recent volatility and 29% for the average volatility over the prior five years. Yet the assignment question asks the student to use a 40% volatility. Why would Arley probably have a higher volatility than the average home furnishing manufacturer; more generally, what would drive volatility? Students may recognize that volatility should be related to fundamental business risk, which in turn would be related to the instability of supply  and demand, as well as variable competition. More narrowly, one might expect that firms with higher fixed costs might experience higher volatility as well as firms with greater debt, as operating or financial leverage would amplify movements in firm value for shocks in the underlying business. They might also expect that smaller firms might have greater volatility, in part due to lower scale economies. An especially diligent student might calculate the relationships between the volatilities in Exhibit 4 with firm size (market value of equity plus firm value of debt), firm leverage (debt divided by market size), or profitability. Using average volatility as a measure, she would find the coefficients on these relationships to be directionally correct (higher volatilities on smaller firms, more levered firms and less profitable firms), but in an OLS framework, none are close to conventional significance levels. Given the uncertainty in volatilities, students might calculate the sensitivity of option values to various levels of volatility. The table below shows this sensitivity for various volatilities as well as for various maturities. Note: this table uses the two-year risk free rate from Exhibit 7 (11.14%) which is quoted on a bond-equivalent yield basis, so the numbers will vary slightly from those in the text. VOLATILITY RANGE 25% 30% 35% 1.07 $ 1.20 $ 1.33  $ 0.88 $ 1.06 $ 1.24  $ 0.73 $ 0.93 $ 1.13   $ 0.61 $ 0.81 $ 1.02  $ 0.51 $ 0.71 $ 0.92  $ 25% 0.39 $ 0.94  $ 1.45  $ 1.92  $ 2.36  $ 30% 0.52  $ 1.12  $ 1.65  $ 2.13  $ 2.56  $ 35% 0.65  $ 1.29  $ 1.85  $ 2.34  $ 2.76  $ 40% 0.78  $ 1.47  $ 2.05  $ 2.54  $ 2.97  $ 45% 1.59  $ 1.59  $ 1.52  $ 1.43  $ 1.33  $ 50% 1.72  $ 1.76  $ 1.71  $ 1.63  $ 1.53  $ 45% 0.91  $ 1.65  $ 2.24  $ 2.75  $ 3.18  $ 50% 1.04 1.82 2.43 2.95 3.38 40%  $ 1.46  $ 1.41  $ 1.33  $ 1.23  $ 1.12  $ Do No tC PUTS $1.41 20% 1 $ 0.95 2 $ 0.70 3 $ 0.53 4 $ 0.41 5 $ 0.32 ^Time to maturity CALLS $1.47 20% 1 $ 0.27 2 $ 0.76 3 $ 1.25 4 $ 1.72 5 $ 2.17 rP os t

Monday, July 29, 2019

Time Traveling, Art Historian Book Chapters - Roman Paintings Essay

Time Traveling, Art Historian Book Chapters - Roman Paintings - Essay Example The essay "Time Traveling, Art Historian Book Chapters - Roman Paintings" explores the Roman Paintings. From observing the living conditions of the people, it was very clear that they used paintings as more than just dà ©cor hanging on a wall. Their domestic conditions and living scenarios were very claustrophobic. Most of the dwellings were windowless, dingy and dark. In an attempt to right this, and to visually brighten up their rooms, the Romans painted in scientific ways that helped brighten up their homes. This included the fresco technique of painting and other forms. It wasn’t unusual to walk in to a room painted with the brightest of hues, or a wall that was divided into â€Å"multiple rectangular areas like the tic-tac-toe design†. Multi-point and trompe-l’oeil effects were also widespread in Rome. In my escapades of Rome I was lucky enough to witness the preparation and painting of a Fresco! It was a highly complex process, but the result was beautiful . Preparation involved firstly applying a few coats of mortar – a mixture of lime and sand, which was â€Å"followed by a few coats of lime and finely powdered marble†. The next step involved the application of coloured pigments to make the designs on the still-damp wall, followed by application of tempera and liquid wax after the wall dried. In the late nineteenth century, four styles of painting were identified and I was very lucky to have been able to observe them all in my visit to Rome. Incrustation was the first style which I witnessed as being ‘originated.... Incrustation was the first style which I witnessed as being ‘originated in the early 2nd century BC’. (â€Å"Roman Painting†, 2009). When viewed, I was strongly reminded of marble veneering. The painted decoration is very similar to slabs of coloured marble. A great example of this style is the Samnite House in Herculaneum. Observing this piece, I could only imagine how this style manages to represent the cultural aspirations of the middle class of the time. The second style, which was developed almost a century later, allowed the â€Å"opening up the wall by allowing illusions of windows and porticos†, therefore giving one a distinct feeling of looking out at imaginary sceneries. (â€Å"Roman Painting†, 2009). Gazing upon samples of this type, such as the Odyssey paintings from a Roman House currently in the Vatican, I couldn’t help but be immersed and lost in sceneries so beautiful, that it was hard to believe they were not really there. The third style is Ornamental. This was probably the first picture gallery, as the style focused on closing up walls to create said effect. As I wandered through rooms, I noticed typically, a large central piece that was surrounded by a smaller picture on each side. The fourth style seems to have been named for paintings many decades later. It is a heterogeneous style that incorporates bits from each of the previous ones. (â€Å"Roman Painting†, 2009) Chapter 2: Islamic Art of Ornamentation After Rome, and the amazing paintings I had been lucky to witness, I decided it was time for another great civilization – Islam. I wanted to witness something different†¦ something beautiful and

Sunday, July 28, 2019

FORD Essay Example | Topics and Well Written Essays - 1250 words

FORD - Essay Example Ford Motor Company has a large market share. Automotive segments of Ford Motor Company include; Ford North and South America, Ford Asia and Africa region and Ford Europe. The market share of Ford Motor Company for the last 9 months has risen significantly to 15.8 percent. This is higher as compared to the market share of the year 2012 which was 15.2 percent in US. However, the market share of Ford Motor Company is estimated to increase by 7.4 percent. This means that the company will be able to make auto sales of 15.9 million up from 2012 sales of 14.8 million (Young, 2013). There is a very high competition in the international market yet Ford remains consistently competitive. In Europe, the analysis of Ford products shows that it is the second best seller in the past five years. This is attributed to the best performance the company has made recently in Russia and UK (Vlasic 2011). Ford Motor Company is a global leader in manufacturing and sales of automotive products. The company distributes its manufactured vehicles in approximately 200 markets across the world. Ford also has other responsibilities such as servicing and offering of credit to interested parties. The company employs quite a number of people in all industries (Forever Ford 2014). Ford motor company has its operations in many parts of the world; for example, it has subsidiaries in countries like UK, Australia, China, and Japan. Political stability in those countries is favourable. This means that business can be conducted without any interference from governments. This has given the opportunity to Ford Motor Company to excel in market share, in various countries. Economic challenges in the world have seriously affected companies including Ford Motor Company. Many companies were forced to withdraw from the business but others adjusted their production and reduced the work force. The

Saturday, July 27, 2019

Briefing Reading Assignment Example | Topics and Well Written Essays - 500 words - 1

Briefing Reading - Assignment Example According to Miller et al (2010: p.273) these firms began by discovering their hidden resources, also called asymmetries, which included building on their own unique potentials, relationships, hard-to-copy assets, knowledge and experiences. Over time, these firms were able to develop several organizational processes and designs in order to find these asymmetries, turn them into capabilities and gear them across the necessary market opportunities. As stated by Miller et al (2010: p.274), they asymmetries are hard-to-copy ways that create a difference between a firm and its rivals. For this reason, Reed discovered that his bank was different and developed ways to make that difference a valuable asymmetry that his rivals would not copy and later found a profitable market that valued it. Shana Corp, a private Canadian software company, exhibit a similar path to that of Citibank. Over time, the managers of Shana realized that the company had developed unique capabilities, which included valuable kinds of work that its rivals could not do as fast or better. This allowed the company to exploit and extend its competitive advantage over other firms. In short, the managers of Shana were able to focus on what the company was able at, reflected on it, developed and found clients that would benefit from its new capabilities (Miller et al (2010: p.274). There are three imperatives of inside-out strategy, which include discovering of asymmetries and their potential, creating capability configurations by design, and pursuing market opportunities that build on and leverage capabilities (Miller et al, 2010: p.275). It is difficult for firms to develop their hidden resources unless they have some potential edge. For this reason, firms need first to discover their asymmetries and potentials, which will serve as starting points for creating advantages as they are hard to copy. Thus, to find potential asymmetries, managers are required to do an outside and

Friday, July 26, 2019

Multicultural Education Research Paper Example | Topics and Well Written Essays - 1250 words

Multicultural Education - Research Paper Example This definition is a way of adding prospective and diverse material to make it more inclusive in traditionally underrepresented groups. Other people talk about classroom teaching styles or climatic issues that serve certain people while presenting obstacles for them. Still, others insist on education change as part of the larger societal transformation, in which humans closely explore and criticize the oppressive foundations of the society and how education serves in maintaining the status quo foundations, such as capitalism, white supremacy, exploitation and global socioeconomic situations. Despite the existence of multiple conceptualization of multicultural education, shared ideals provided a basis for its understanding. Some shared ideals focus on individual teachers or students while some are much more macro in scope and are about transformation. Multicultural education is a progressive approach that transforms education that holistically critiques and addresses current failings, short comings, and practices in education that are discriminatory (Nieto 67). It is brought up in ideals of, social justice, education equality and dedication to facilitating educational experiences, in which all students participate to their fullest potential as learners and as socially aware and active beings, nationally, locally and globally. Multicultural education agrees to the fact that that schooling is essential in laying the foundation for the transformation of society and elimination of injustice and oppression. Every child goes to school with an ethnic identity (Arel and Ruble 77). The ethnic identity might be conscious or unconscious. The identification must be recognized and respected by the teacher since it forms the basis for learning activities in the classroom. The point is to acknowledge differences rather than ignoring them. It is equally critical that the students recognize and show appreciation to their own ethnicity and also learn to appreciate those of the ot her students in the class. The recognition of individual ethnic identities forms the beginning point of learning (Draper 211). It is the connector of both student to student and teacher to student. Ethnicity appreciation is the basic building block in the learning process, which requires knowing where the student id relative to him/herself and content to be put under consideration. Ethnic identification forms are continual points of focus throughout the process of education and it is also the basis for developing the next level of identification. The next level understanding is the national identification. The national identity of a people requires their understanding and commitment to the democratic ideals such as human equality, justice and dignity. In the national identity of an individual, the focus is put on becoming effective members of the demographic society. The strong national identification of an individual is essential to his/ her development of global identification. Mu lticultural education has had five dimensions, which include; the knowledge construction process, content integration, prejudice reduction, empowering school culture and social structure and equality pedagogy. The dimensions are widely used by schools in conceptualizing and developing programs, course and projects in multicultural education. The dimensions are interrelated. Content integration explains the acts in which accidents examples and content from a variety of groups and cultures to demonstrate key

Thursday, July 25, 2019

Critical Thinking and Language Essay Example | Topics and Well Written Essays - 1250 words

Critical Thinking and Language - Essay Example Today, we have the powerful desire to know what is going on and how we fit in the larger picture of the society. More than before, we need to engage in systematic and extensive communications in upward, downward, and lateral directions. By being able to acquire language mastery which involves grammar, spelling, use of words, intonation and others, we will be able to make good use of our language skills to our advantage. This will be a powerful tool for us to successfully resolve conflicts, make sound decisions and provide smart solutions as well as improve the statues of our social relationships. Social organizations cannot exist without language and communication. Language has already become a part of different cultures for different nations have their own national language and even their own set of dialects. Language has already been a part of every country's national heritage and also one of the pillars of their national identity. Since language may vary from one nation to another, this brings about the diversity in language. With this characteristic of language, people are able to interact with other people from different nationalities and having different cultural backgrounds. We are also able to communicate with people from any age, gender, ethnicity and religion due to diversity in language. This way, we are able to share our knowledge and expertise to people from across the globe. As an example, diversity in language can be exemplified by the communication between men and women. Research on gender-based communication styles has begun to show more fascinating diversity between two groups. Numerous studies have explored whether men and women use different communication styles. In general, men and women display marked diversity in the way in which they communicate. Men emphasize power, while women stress rapport; men are more likely than women to claim credit for accomplishments; men tend to downplay their uncertainty rather than admit it; women asks questions to learn more, while men fear that asking questions will make them look ignorant. How does language empower or limit the expression of our thoughts Language serves as our medium for communication and expression. Every idea that our mind perceives and process will be rendered useless unless they are expressed though language. Language can work to our advantage or disadvantage depending on how well we know how to make language work for us. The more we know about language such as semantics, phonetics, use of words and grammar, the higher the possibility of getting our message or ideas across successfully. Nearly language is considered symbolic; that is it is achieved using symbols, (words, pictures, actions) that suggest certain meanings. Semantic barriers are examples of how language may limit our expression of thoughts as well understanding other people's thoughts. Semantic barriers arise from limitations in symbols with which we communicate. Symbols usually have a variety of meanings, and we have to choose one meaning from many. Sometimes we choose the wrong meaning and misunderstanding occurs. This is particularly likely with use of jargons, which is the specialized language of a group. Jargon can include the use of acronyms, slang (words unique to an ethnic or racial group), or

Wednesday, July 24, 2019

Alison Barnard Case Study Example | Topics and Well Written Essays - 500 words

Alison Barnard - Case Study Example sity of Richmond, Alison went on to pursue a one year Master’s degree in business administration (MBA) thereby increasing his knowledge on management and entrepreneurship. Equally important, every successful entrepreneur has to know how to manage their time, as well as offering what the customers are looking for in the market. These qualities can be observed in Alison, for instance, when she discovers that women are â€Å"fit loyal† rather than â€Å"brand loyal† (Babson 2010), Alison invents a strategic corporate plan for any premium jeans and tops boutique to meet the needs of the customer thereby increasing the demand for the boutique’s products, mostly jeans wares. Relatively important, Alison has good public relation skills, a characteristic necessary to become a successful entrepreneur. To illustrate, Alison had the essential skills and fervor to assist her trendy clients to find their right size and sets of jeans, something which enabled her to gain more revenue overtime. Besides, Alison is quite determined and an industrious person, qualities that enable her to be a successful entrepreneur. For instance, it is pointed out that he had high energy and from the beginning, Alison was observed to be running her hit venture, which continuously consumed virtually every waking hour. Furthermore, she was less concerned about burning out as compared to having her daily duties done, in order to plan and manage for the growth of the business (Babson 2010). However, in order to increase further her chances of becoming a successful entrepreneur, Alison has to avoid or reduce her engagement in some few practices. For instance, instead of focusing on the leadership that will be provided for every store, she could be concerned on the best way of transforming the business model that she has created in her original store. This will ensure that the customers will continue targeting the store, significantly giving the stores a competitive age and thereby enabling its

American Revolution Research Paper Example | Topics and Well Written Essays - 1750 words

American Revolution - Research Paper Example Rousseau and Montesquieu effectively promoted republicanism, liberal thought, democratic principles and religious tolerance and therefore, served as a major predecessor to the American Revolution (Ray, 24). In addition to significant political basis for the American Revolution, economic relations formed inside American Colonies were more advanced than those in Britain, thus further escalating the movement towards independence. Political movement towards American independence started with the first Continental Congress, occurred in 1774 at Carpenters' Hall in Philadelphia, Pennsylvania. Practically, it represented a convention of delegates from twelve American colonies but the Province of Georgia. The First Continental Congress made two major political decisions with first being boycott announcement of British goods and the second - announcement of Second Continental Congress (Schecter, 39). During the latter, the United States Declaration of Independence has been declared, a major political step to the sovereignty of a young state. Furthermore, this political action triggered the ratification of the Articles of Confederation, which occurred after a year of political discussions. During the American Revolution, political progress has been continuously accompanied with military action, occurring not only on the North America territory but internationally (Higginbotham, 19). British military campaign established against the Revolutionaries has been largely concentrated in Massachusetts. According to historical opinion, the battles of Lexington and Concord are considered the official beginning of the American Revolutionary War (Higginbotham, 22). The so called Boston campaign resulted in two notable events: one of the bloodiest battles of the war - the Battle of Bunker Hill (1775) and unification of colonist militia into coherent regular army by George Washington. From the critical perspective, the early British military strategy in the North American has been recognized as ineffective due in part to the Secretary of State for Colonies Lord George Germain's incompetent leadership. The lack of effective coordination for the total war effort allowed the two main British armies in North America - General Howe in New York and General John Burgoyne in Canada - to act almost as independent forces, rather than a synchronized team (Black, 117-121). In 1777, Burgoyne attempted to sever New England from the middle states by driving south along the Richelieu River, through Lake Champlain, and down the Hudson River (Banes and Charles Royster, 94-99). To resist Burgoyne's movement, George Washington with newly formed Continental Army rushed reinforcements north to Philip Schuyler and Horatio Gates, while keeping his remaining force in New Jersey where he could defend

Tuesday, July 23, 2019

Describe the history of building construction changes in the context Research Paper

Describe the history of building construction changes in the context of fire safety and prevention. What are examples of major c - Research Paper Example It is important that the fire safety professionals and the fire fighters of today continue to look back on these horrifying tragedies and remember what valuable lessons were learned from these fires, and also remember at what cost those lessons came. The deadliest fire in Chicago history occurred in the Iroquois theater, on December 30, 1903. The reportedly fireproof building had been open a mere five weeks before the scenery caught fire on a reflector. An attempt to bring down the fire safety door, a stage curtain made of asbestos, failed, and the panicked cast fled out the back. The draft from the stage door caused an explosion of flames on the stage that immediately combusted much of the seating area. In the ensuing rush to the exits, 602 people were killed, many of them from being crushed against locked exit doors or exit doors that opened to the inside of the theater (Eastland Memorial Society, n.d.) As a result of the theater fire, Chicago mayor Harrison closed over one hundred and seventy theaters, dance halls, churches, and other large gathering spaces for re-inspection for compliance with building codes. Many of the fire codes had been ignored in the construction of the Iroquois Theater due to bribes given to local governmental officials. Mayor Harrison was determined that this practice would not be allowed to continue. New laws and codes were passed that required marked fire exits, clear exit paths, and doors that opened outward instead of into the line of travel. Additionally, any new theaters had to be equipped with a steel fire curtain for the stage to prevent failure of the type that occurred with the asbestos curtain at the Iroquois Theater (Eastland Memorial Society, n.d.) Another Chicago tragedy was the school fire at Our Lady of Angels on December 1, 1958. The building had a brick exterior and completely wooden interior, and a roof that had been waxed with petroleum-based products. The building had only one fire exit, which to be reached requi red traveling through the main corridor, negating its purpose. The fire alarms were mounted deliberately out of reach of the children in the building to prevent mischief and, regardless, were not designed to alert the fire department when activated. The fire started in the basement dumpster, allegedly by a ten year old student at the school, then ignited a nearby staircase. The combustion of the stairwell released gases, heat, smoke, and flames onto the second floor, as the second floor exit to the stairwells lacked a fire door, unlike the first floor exits to the same staircases. Many of the children were killed by jumping or falling out the second-story windows after the center corridor filled with flames and the escape route was blocked. The final death toll was ninety-two children and three teaching nuns (Morgan, n.d.). Disturbingly, the building had passed a fire safety inspection just a few weeks before the incident. It had met all fire codes at the time of its construction, a nd Chicago fire code did not require that existing structures retrofit equipment to meet newer standards. As a result of the disaster, fire codes affecting schools were changed across the country to make schools safer, including such reforms as exterior fire escapes and fire alarms that rang in local fire departments (Morgan, 2001). Another

Monday, July 22, 2019

Early Childhood Curriculum Essay Example for Free

Early Childhood Curriculum Essay In Early Childhood Education you use philosophies to help you succeed. You also make sure that you look into the NAEYC position and standards to make sure you are running a classroom that is within the standards. These are two critical factors in an Early Childhood classroom and you have to know how to implement them in your teaching. John Dewey was an American educator and philosopher. He helped develop the idea of pragmatism. He felt that children should explore and discover. â€Å"Dewey and other progressive followers suggested a curriculum for young children that focused on the situation and challenges that children faced as members of a democratic society† (Eliason Jenkins pg. 5). Maria Montessori is best known for her teaching method that has her name the Montessori Method. She believed that the scenes were the source of intellectual growth and development. â€Å"She emphasized the importance of the schools and families working together† (Eliason Jenkins pg. 5). Jean Piaget is known well for his cognitive development theory. â€Å" Programs that incorporate Piagentian theory emphasizes that children learn through experimentation and initiative and construct their own knowledge and understanding through adaptation o the environment† ( Eliason Jenkins pg. 5). There are many different ways to teach. Some of the goals of teaching are: â€Å"1. understanding the nature of development and learning. 2. Know what to teach, how to teach, and know how to access what children have learned. 3. Create a caring and responsive learning environment. 4. Establish positive mutual relationships of trust and respect with families 5. Pursue professional training and knowledge. 6. Treat every child with respect, dignity, and positive regard† (Eliason Jenkins pg. 13). â€Å"The NAEYC is dedicated to improving the well-being of all young children, with the focus on quality of educational services for all children birth to age eight† (NAEYC. ORG). NAEYC position statements are their position to issues related to early childhood education. Some of the issues are: anti-discrimination, code of ethics, developmentally appropriate practice and early childhood curriculum, assessment, and program evaluation. â€Å"Naeyc’s first commitment is to the rights and interest to all children† (NAEYC. ORG). They believe that one should be hired on their competence and qualifications to perform their designated duties and that it should not be based on gender, race, national origin, religious beliefs, age, marital status, disabilities, or sexual orientation. The NAEYC code of ethics â€Å"offers guidelines for responsible behaviors and set fourth a common bias for resolving the principal ethical dilemmas encountered during early childhood care and education† (NAEYC. ORG). It also does not allow educators, doctors, and nurses to deny services to children. The developmentally appropriate practice is to â€Å"to promote excellence in early childhood education by providing a framework for best practices† (NAEYC. ORG). It promotes quality of care and education. The NAEYC â€Å" constructs comprehensive systems of curriculum, assessment, and program evaluation guided by sound early childhood practices, effective early learning standards and program standards are a set of core principles and values, belief in civic and democratic values† ( NAEYC. ORG). They make sure that children are active, and engaged curriculum goals are shared by all and that curriculum is evidence based. â€Å"Early childhood classrooms should communities of inquiry, problem posing, and problem solving, where children perceive that in math lessons they are expected to offer their thoughts about questions posed and to find resolution to these problems† (Eliason Jenkins pg. 319). Teachers need to incorporate problem solving and math in the curriculum to do this teachers must avoid gender bias regarding math. They should recognize different opportunities during the day to teach math and also to make sure that early math is concrete and manipulative. † The focus in early childhood is in understanding numbers and the number system and understanding operations specifically addition and subtraction† (Eliason Jenkins pg. 323). Children are counting all their life. They learn by playing different games or things such as climbing stairs. Repetion helps the child to memorize the sequence and sounds of numbers. When you are doing songs or finger play the children are learning their numbers and the correct order they should be in. â€Å"The basis of a high quality program in early childhood is promoting feelings or self esteem and dignity in each child† (Eialson Jenkins pg. 143). Teachers have to help the children build their self esteem. Some ways to help strengthen a child’s self esteem would be to make sure you are honest, sincere, and consistent in expressing feelings. Teachers should make sure they value the children’s work and effort. If a child has a problem you can help in anyway that you can. Violence is not good for young children. â€Å" Violence results in children believing that there is no safe place, that their protectors can no longer protect them â€Å" ( Eliason Jenkins pg. 149).â€Å"This can influence their  emotional development. â€Å"Stress develops when we can not cope with either external or internal demands† (Eialson Jenkins pg. 148). Some external sources of stress would be hunger, pain, illness, fatigue, shyness, and emotions. External stress would be divorce, family separation, hospitalization, and death. Teachers can help children deal with stress in many ways such as: encourage the child, praise the child, ect. â€Å"Development in cognitive language and literacy allows young children to construct meaning and build understanding† (Eialson Jenkins pg. 189). Teachers should make language and literacy development in all curriculum. â€Å"Literacy development begins in the very early stages of childhood, even though the activities of young children may not seem related to reading and writing† (Johnson, D. ). When you are helping your children with their literacy development you need to help to encourage them. Some ways to help encourage them would be: To provide many opportunities for talking, make sure you listen, ask the children questions, make sure they are in a comfortable relaxed atmosphere, and recognize and help correct if the child use grammatical errors. Sharing stories and poetry are good activities to help support language development. â€Å"The primary factors influencing the development of language appear to be 1) The child’s innate ability to learn language,2) The quality of the model or the early stimulation and variety provided by the model. 3) The ability of the caregiver to expand or extend the Childs language† (Eialson Jenkins pg. 204). â€Å"Children’s development in semantics, or the meanings of words, is directly related to the experience and interactions that they have† (Eialson Jenkins pg. 193). If a child hears a word they have never heard before they will not be able to use it, but they can use sentences they have never heard before. Books help expand their language meanings and vocabulary. â€Å" It is very important that adults constantly share, converse, extend, exchange language, and provide labels for words as children have experiences at zoos, grocery store, park, school, home, in the car, in the classroom, or in any setting† ( Eialson Jenkins pg. 193). Children tend to learn to read different signs that they see constantly over and over even before they can actually read. These signs include ones such as stop signs, McDonalds, burger king, ect. â€Å"Syntax is the set of rules for creating or understanding a sentence† (Eialson Jenkins pg. 193). When children first begin to use words there is no evidence of syntax but as the child turns four you can start to here this with the children. The children learn to imitate sentences when they are first learning and this is how they learn syntax. You can also help the child learn by expanding what the child says till they learn to add this in themselves. As teachers we need to make sure that we speak ton every child using correct grammar. â€Å"As children grow, they gain increased facility with syntactic structure, leading us to believe that maturation is a variable in syntax growth† (Eialson Jenkins pg. 194). â€Å" Through music and movement young children express themselves, explore space, develop language and communication skills, increase sensory awareness, and express themselves through rhythm, gesture, time, and space† ( Eliason Jenkins pg. 353). Adding music to your curriculum is important because it helps children learn about different cultures as well as about their own culture. Through music they express their emotions and it helps them release their feelings. Depending on what music you are listening to it can either calm, or help soothe troubled feelings. It can help the children enhance their self worth. Music also helps with children’s listening skills, attention span, and their memory. Language and language concepts can also be developed through music. â€Å"Research supports the notion of the physical and psychological advantages of music on the body and mind† (Eialson Jenkins pg. 354). â€Å"Young children have a natural curiosity about the world, and this is where science education should begin† (Eialson Jenkins pg. 237). Science should be taught as hands on learning, it should be a natural part of the everyday curriculum. â€Å"Language and literacy development are strongly supported when science activities are included throughout the curriculum† (Eialson Jenkins pg. 239). Science is taught through observing, manipulating, problem solving, and engaging with science activities. They learn to classify, compare, define, measure, listen, ect. When they are learning science. Early childhood education is a very critical time in a young person’s life. This age has a big influence on their learning for the rest of their lives. The government developed The No Child Left behind Act to make sure that all children have an equal opportunity to a good quality education. The government designed grants to help all children succeed. The Special Education Preschool Grant â€Å" provides formula grants to states to make available special educated and related services to three to five year  old children with disabilities† ( ED. GOV). They also have grants to help with high poverty communities to help improve their knowledge and skills. â€Å"Currently American schools and early childhood programs focus on standards-based education† (Eialson Jenkins pg. 17). Some of the qualities o0f effective childhood teachers are: Caring, enthusiastic, flexible, and creative. Early childhood teachers must be willing to be patient and help these children learn so that the children will be ready for their future. Philosophies are an essential part of early childhood curriculum. They help the teachers to help the children to learn in different ways. The NAEYC standards are implemented to help teachers understand what the proper way they should teach the children. They help the teacher set up their classroom and understand the way the children should be taught. â€Å" Early childhood educators must strive to be learners who are willing to continually study, grow, and change to think and solve problems† ( Eialson Jenkins pg. 19).

Sunday, July 21, 2019

Operation Buckshot Yankee

Operation Buckshot Yankee Operation Buckshot Yankee: The Primary Point of Weakness By Jeffrey Higa Abstract Operation Buckshot Yankee is a catastrophic event that was a turning point in cyber security for the U.S. government. This incident established the current dominating war fighting domain known as cyberspace and established the need for increased cyber security. I would like to highlight the event known as Operation Buckshot Yankee, how and why it happened, a possible solution that could have prevented this, and similar events synonymous to this situation. I would like to highlight the main point of weakness from my perspective on the situation and propose how this weakness can be strengthened with proper people management and training. I will provide explanations and examples to provide a clear view on how this situation could have possibly be prevented, and statistical data to back up my findings as well as a personal example of a real situation recently occurring in my career. By being able to estimate the possible costs of damages in both monetary and reputational damage caused in these situations, these numbers can prove how valuable data can be and what the costs of a simple mistake such as using a mysterious flash drive can cause. In conclusion, I would like to mention a possible solution to the problem and my personal view on the situation and how it applies to us not only in this event, but also has an impact on our everyday lives in the field of IT and IT security. Essay Operation Buckshot Yankee is based on a cyber security incident which took place in the Middle East in 2008. This cyber attack event was a turning point in the history of U.S. cyber defense, and caused drastic losses of data from secret government databases. Operation Buckshot Yankee was the name of the operation to stop a malicious code that was contained on a flash drive an American soldier found in the Middle East. This flash drive was then inserted by a government employee to a laptop connected to Central Command networks and caused the code to spread throughout classified and unclassified military networks allowing the enemy to steal valuable information on these systems. According to an article by Lynn (2010), U.S. government systems are constantly probed and scanned by adversaries millions of times daily, but this attack was an example of a successful cyber attack. The military lost thousands of data files including weapon and operational plans as well as surveillance data stored on classifieds U.S. networks. Having this incident happen, the government has realized the need for increased cyber security and work to create a secure international network. In response to this attack, the government declared cyberspace as an official war fighting domain, and initiated plans to regulate cyberspace crimes and safety. Up to this attack in 2008, Operation Buckshot Yankee is said to have been the most significant breach of U.S. military computers to date according to an article by Nakashima (2010). According to Lynn (2010) this type of attack is the introduction of a new type of war fighting that opens up the new domain known as cyberspace where traditional war laws do not apply. Cyberspace has now become the primary point of attack, as these types of attacks are relatively inexpensive as they only required trained individuals and computers, rather than large expensive equipment such as tanks and jets. According to another article by Nakashima, the NSA was alerted by a signal in the U.S. system trying to send messages back to the code creator. The NA then found a program that infected their classified network and was sending data out. They sourced the code to the aforementioned thumb drive and found that the code would look for important documents and spread itself to other thumb drives connected to the network. The malicious program was called Agent.btz and infected the host computer and spread over the network to other computers. Any other flash drives connected to already infected computers were then also infected and caused further spread throughout the network. The article also mentions that the code had already been out for months prior to the attack, and was floating around the internet but did not have access to government systems due to them being isolated from the public networks. Due to the government not being able to scan public networks thoroughly, the code was bypass ed until the incident. This situation highlights the danger of insider threats, whether intentional or accidental. In the case of Buckshot Yankee, the carelessness of an individual was the cause of the insider threat which compromised an otherwise secure system isolated from outsider threats. Operation Buckshot Yankee is the planned government operation of shutting down Agent.btz and putting a stop to the stealing of government data. The government analyzed the code and saw that it was looking instructions on what actions to take. The NSA Tailored Access Operations team created a plan to force the code to deactivate itself by sending their instructions for it to shut down. The operation was a success and the instructions were sent out across the network once testing as done, and the malicious code was shut down. Though this code was put to a stop, many important government documents had already been stolen, but the incident was put to a halt. This incident led to the banning of thumb drives on Department of Defense systems as a security measure from preventing a similar incident from happening again. The flash drive was sourced in the Middle East and according to an article by Goodin (2010) the source code was said to have been from Russia but there is no solid evidence directly proving this. The article by Goodin also describes that Government systems are constantly under the threat of cyber attack, and that a dozen computer hackers could drastically cripple U.S. government networks if a network vulnerability is found. This is a perfect example of how drastically times have changed, and that cyberspace is the new arena to commence attacks. According to the article as an example, a dozen people at computers could possibly bring a country down in an extremely cost and labor efficient manner. Losses of life would be minimal for adversaries compared to a kinetic attack, and damages caused could be in the form of disruption o f services or staling of valuable data as described in Buckshot Yankee. A great example of disruption of services would be the event in Estonia as described by Richards (2009). A Distributed Denial of Service attack was launched against Estonia in protest of moving a politically valued statue. These attacks lasted three weeks and were strategically launched targeting banks and other essential services to cripple the technological systems of Estonia. Having essential services shut down can cause chaos and leave a country vulnerable to attacks if an adversary were to take advantage of the situation. Taking that into account, resulting damages of cyber warfare and cyber attacks could essentially have worse effects than kinetic war or possibly result in additional kinetic war. Operation Buckshot Yankee is a perfect example of how battles will most likely be fought in this current era and going into the future. Cyber attacks are en extremely inexpensive and efficient method of causing a significant amount of damage with minimal effort. Due to the nature of cyberspace, attacks are also very difficult to pinpoint and regulate. Traditional laws do not apply here as there are no clear boundaries in the world of cyberspace. As described in an article by Mjr. Gen. Charles J. Dunlap USAF (2009), the definition of cyberspace itself is yet very unclear and undefined. Without proper definition, it is difficult to make accurate laws to apply to this new war fighting domain. The only real protection as mentioned in this article is for nations to take responsibility for their own actions and their citizens. In the case of Operation Buckshot Yankee, this was the unintentional irresponsibility of a U.S. citizen. Due to difficulty in specifically sourcing threats and the l imitless boundaries of cyberspace, it is almost impossible to place blame on a certain country or individual, especially if they are located in another country. As in the case of Buckshot Yankee, though the incident was caused in the Middle East, the code is theoretically sourced from Russia, but there is no way to truly prove it. This brings me to the point that the primary point of any cyber security system is human error. I believe that people cause the most problems in any technology environment regardless of the situation. Computers are controlled by people that cause the problems. Another great and synonymous example is the recent event of credit card information being stolen from Target. An article by Riley, Elgin and Matlack (2014) malware had been installed on Target’s computer system to steal credit card information as it was swiped. Target had installed a detection system by FireEye to detect malware prior to the event happening, but the system was ignored even when alerts were given to the companies’ IT and management. According to the article, about 40 million credit card numbers and 70 million other pieces of information were stolen before the situation was acted upon. This is another prime example of a system working properly but being held back by people. Had this situation been a cted upon as soon as the alert was announced, many peoples’ valuable information would have been saved, and the company would have saved possibly avoidable expenses. As described in a book by Harris,S., Kumar,P.V. (2013), the most important part of cyber security is people. Operation Buckshot Yankee is a perfect example of how human error can cause catastrophic damage. Whether it be due to improper training or carelessness, this event started with the actions of a single person and turned into a widespread situation with catastrophic damages. If proper training was initiated and due diligence was practiced, this situation could have been avoided. Most would consider a random flash drive found in an adversary country to be suspicious and would not try to plug it into any computer, let alone a secure government system, but user errors such as this are the primary cause of incidents regarding technology. Wilshusen (2013) shows statistics from government agencies explaining that 20% of cyber incidents are due to improper usage; only secondary to incidents still unexplained or under investigation. This statistical data is a definite indicator that people are the primary cause for problems in even federal government agencies. By having solid statistics based on real reports from 2012, it is irrefutable evidence that people are the primary cause of concern and outlines the need for continuous training and testing of knowledge. By keeping people properly trained and reducing the number of unknowing individuals having access to network resources above their knowledge these numbers could possibly be greatly reduced. A great personal example is at my place of employment. I work for a government sponsored healthcare company which handles patient data on a daily basis that is regulated by HIPAA. There are a few employees who are older aged (50-60) and are relatively unfamiliar with computers regardless of training given. A prime example is one employee in particular who is in upper management. I cannot think of a more perfect example of a prime target for any type of cyber attack, from social engineering to spam emails, she has fallen victim to them all and constantly does to this day. Upon sitting at her computer, all her usernames and passwords can be found on sticky notes on her desk or under her keyboard. She also opens every email and attachment regardless of what it says or who it is from. We recently had a couple simultaneous incidents happen with her in the past few weeks. The first sign was her email account being locked by our service provider. We called and they said her email was being used to send thousands of spam emails while logged in from China. Upon fixing this and changing her passwords etc., we scanned her computer only to find more than 17,000 malware installed on her computer. We constantly inform her about how to properly inspect email and about not giving out personal information or opening every attachment. Even with antispam programs on our server, some emails will always slip through, and she will always open them. I find this to be a prime example of human error and carelessness to perfectly describe how an incident such as Buckshot Yankee can occur. The statistical cost provided in an article by Ponemon Institute (2012) has shown in a survey that the average cost to a company of a successful cyber attack is about $214,000. This shows that the damages can be significant, and that data is extremely valuable. In the case of buckshot Yankee, the data which was stolen containing weapon plans, and confidential operations and surveillance data is of significant value and could result in catastrophic damages to the U.S. in both costs and possibly loss of life. If this data is placed in the wrong hands it could be used maliciously and the damage could be limitless. In the situation of my workplace, losing patient data could also be a significant loss, leading to possible lawsuits and compromising of patients’ personal information. In the case of target, had the situation been handled properly and the security system been utilized, it could have prevented the significant leaking of data. In a journal by Espenchied (2012) of Microso ft, Operation Buckshot Yankee took almost 14 months to clean up from Department of Defense and Pentagon networks. In all of these situations damages would not only cause significant monetary damage, but also damage the reputation of the data holder. For companies like Target, fixing the damages caused has resulted in an estimated $61 million in expenses and 9 lawsuits according to Riley, Elgin, and Matlack (2014). Had they acted quickly, these damages as well as damage to their reputation could have been minimized. Conclusion In conclusion to these findings, I would like to stress the importance of proper continued training of employees in any type of computer related job, as proper use of computer systems is the best method of preventing such events from occurring. Though proper training can be expensive, it can end up saving more money as well as reputation of the company as exampled given in each situation mentioned. Though the U.S. government has a highly sophisticated and expensive cyber security system, it was compromised by a simple mistake. The importance of due diligence and due care is extremely relevant to Operation Buckshot Yankee, as had the zero source individual been informed, they would have considered the mysterious flash drive a threat, and would not have compromised the system by carelessly using it. Because of how difficult it is to find and hold any party responsible in the domain of cyberspace, the best preventative measure is to make sure that your systems are not exposed to internal threats. Most threats from outside can be filtered with hardware and software, but inside threats are the largest problem. As described by Wilshusen (2013), user error is the leading known cause of cyber incidents in federal agencies at 20%, followed by malicious code at 18% also due to user carelessness; with direct threats such as unauthorized access and probing last at 17% and 7% respectively. The personal example I had given in my place of employment is another example of an insider threat compromising the network due to user misuse and carelessness. The only solution to keeping U.S. cyberspace safe is by ensuring that all hardware and software systems are up to date with current threats, and properly maintained in addition to informed system users. By regulating who has access to data resources, and making sure they are trained to the necessary level of knowledge, we can prevent these future mistakes from happening, and minimize possible damages due to data loss. These concepts apply not only in a government setting, but apply to use at work and even on our personal computers at home. Keeping cyberspace safe is the responsibility of all computer users, and is of utmost importance in this era where we are so dependent on computers. References Beidleman, Lt. Cl. Scott W. DEFINING AND DETERRING CYBER WAR†, (2009): 1-40 Espenchied,J.A. (2012). A Discussion of Threat Behavior: Attackers Patterns. Goodin, D. (2010, August 25). Pentagon confirms attack breached classified network †¢ The Register. Retrieved from http://www.theregister.co.uk/2010/08/25/military_networks_breached/ Harris,S., Kumar,P.V. (2013). CISSP all-in-one exam guide, sixth edition.  New York: McGraw-Hill. Lynn, W. J. (2010, October). Defending a New Domain | Foreign Affairs. Retrieved from http://www.foreignaffairs.com/articles/66552/william-j-lynn-iii/defending-a-new- domain Nakashima, E. (2011, December 8). Cyber-intruder sparks response, debate The Washington Post. Retrieved from http://www.washingtonpost.com/national/national- security/cyber-intruder-sparks-response-debate/2011/12/06/gIQAxLuFgO_story.html Nakashima, E. (2010, August 24). Defense official discloses cyberattack. Retrieved from http://www.washingtonpost.com/wp- dyn/content/article/2010/08/24/AR2010082406495.html Ponemon Institute (2012, May 24). Infosecurity Cybercrime costs companies an average of $214,000 per attack. Retrieved from http://www.infosecurity- magazine.com/view/25966/cybercrime-costs-companies-an-average-of-214000-per- attack/ Richards, J. (2009). Denial-of-Service: The Estonian Cyberwar and Its Implications for U.S. National Security. Retrieved from http://www.iar-gwu.org/node/65 Riley,M., Elgin,B., Matlack,C. (2014, March 13). Target Missed Warnings in Epic Hack of Credit Card Data Businessweek. Retrieved from http://www.businessweek.com/articles/2014-03- 13/target-missed-alarms-in-epic-hack-of-credit-card-data Wilshusen, G. C. (2013). CYBERSECURITY. A Better Defined and Implemented National Strategy Is Needed to Address Persistent Challenges, 36. Wilson, G. C. (2013). CYBERSECURITY. A Better Defined and Implemented National Strategy Is Needed to Address Persistent Challenges, 36

Organizational Structure And The Relationship To The Mission

Organizational Structure And The Relationship To The Mission Nowadays, with the increase of living quality, more high standard health organizations or facilities are required to meet the population demand of health care. According to the change of the plan of New South Wales Health, the Childrens hospital at Westmead (CHW) determines future developmental direction and formulates its own strategies, vision and mission (The Childrens Hospital at Westmead 2007). In a word, the CHW sticks to respect both children and their families in spite of the change of hospital strategies, mission and vision (The Childrens Hospital at Westmead 2008). Actually, the organizational structure of hospital has relevant relationship that can not be neglected and obliterated with mission and vision. Thus, it is considered that the establishment of hospital structure can help to complete the mission and vision that are designed by organization (University of Western Sydney 2009); meanwhile, mission and vision can impact the hospital structure that is set up (Madden et al. 2006). The purpose of this article is to critically analyse the structure, mission, vision and goals of the CWH, and analyse interaction between organizational structure and mission or vision. Initially, according to the Childrens Hospital at Westmead (2008), the CHW adopts line structure to administer the whole operation of hospital. The mission, vision and goals impacts organizational structure of CHW designed; meanwhile, the aim of the structure is to complete the mission, vision and goals (University of Western Sydney 2010). For instance, workforce development which is involved in organizational structure is designed to offer high skill practitioners of tertiary and quaternary care (CHW annual report 2008), so that it can meet the demand of mission to complete the promise of hospital. The relationship between clinical operations and department of nursing shows the influence of mission statement which mentions to set up good consociation. In addition, it can be seen from the organizational chart (The Childrens Hospital at Westmead 2008) that there are many departments found for economics, treatment, health care and training and education. All of them established a susta inable foundation for the achievement of hospital vision, which shows that healthy children for healthy future (The Childrens Hospital at Westmead 2008). At last, the CHW goals direct the development of finance, emergency, health care and other services; it also requires the high quality of staffs. Secondly, line structure has both negative and positive impacts on the development of hospital. Admittedly, the line structure of CHW is clear and simple. It shows the clear relationship between each department. Moreover, the organizational chart shows distinct superior-subordinate relationship. For example, according to the organizational chart, clinical operation directly administers allied health, diagnostics, medical, critical care and emergency services; at the same time, clinical operation hands in summary of annual work and feedback from lower levels to the highest level named chief executive(The Childrens Health at Westmead 2008). Another advantage of CHW structure is that not only one authority to judge all things. It is shown by the Childrens Hospital at Westmead (2008) that internal audit has right to supervise the action of chief executive. Even so, there are also some disadvantages of this line structure. Less communication of parallel departments which may decrease the quality of health service is demonstrated obviously. For instance, it is hypothesised that one child is sent immediately into critical care because of emergency situation, but he has renal disease that has not been checked out. If there is no contact with medical and critical care, this child would have life risk. What is worse, sometimes, highest authority can not receive the feedback immediately or receive untruthful information due to the incautiously negligence or deliberately concealing of middle or lower departments (Marquis Huston 2009). Therefore, the problems of line structure will result in medical issues and descend the health care level of children. Thirdly, according to the CHW goals (The Childrens Hospital at Westmead 2008), one main line of authority and responsibility is combined by finance and corporate services, community relations and marketing and information services and planning. It is believed that excellent staffs are an important foundation of the high quality health care. It is considered that appropriate incentives can retain the health professionals in different environment, especially in rural and remote areas (Dassault and Franceschini 2006). In addition, high standard of meals and accommodation promote the health care condition. Internet service can help families to solve problems at home; as well as, it can help to book the services, which saves time if it is not emergency problem but some small health issue. Furthermore, fundraising from companies or individuals creates equal chance for every child to accept treatment. It is shown by The Childrens Hospital at Westmead (2008), clinical operation and its subor dinate departments combined into another main line push hospital to realize the goals. For example, hospital strengthens the infrastructures (such as advanced equipments) of emergency services, so that patients can accept efficient cure in time. The increase of whole level of clinical services improves the clinical safety and helps to practice good quality health care. Moreover, some parts of the CHW structure can help to achieve the hospital mission to a certain extent. For example, Allied health in the structure provides the service to meet the requirement of chronic and complex care which is mentioned in hospital mission (The Childrens Hospital at Westmead 2008). There is a relationship between clinical operation and nursing. Nurses and clinical staffs keep in touch and share working experience with each other to establish good partnership described in mission (The Childrens Hospital at Westmead 2008). Nurses also can express the requirement or complain of patients to clinical practitioners, so that hospital could ensure the profits of children. Whats more, training and education bring up professionals to keep the high quality services. Admittedly, the organizational structure helps to reach the goals. For instance, internet service provides a link to save time of patients or their families to book services. Allied health service offer various h ealth services to detective health issues in the early stage of children. Finally, some aspects of the CHW structure could assist the development of hospital and solve some problems. It has been mentioned that there is an internal audit existing with chief executive, so it enhances hospitals monitoring, which may avoid the appearance of bureaucracy to a certain degree (Withey Gellatly 2007). The good cohesion and cooperation between different services can make sure the high quality health service and medical safety of patient. One exact situation is that nurses and clinical operations have built a good relationship, which could be useful to operate clinically and solve problems such as conflict between patients and doctors (The Childrens Hospital at Westmead 2008). However, some aspects of this structure also can have negative impacts on the development of hospital and the solution of problems. In spite of the relationship between nursing and clinical operations, it is not enough partnerships for the hospital to promote its health care quality. For exampl e, the lack of linkage between the department of workforce development and clinical operations is one important issue. It is stressed that the method of training workforce is changing with the change of clinical demand (Withey Gellatly 2007). As a result, the lacking communication between these two departments may lead to the waste of resources including human resources and material resources. Thus, to sum up, the line structure of the CHW is designed to reach the hospital mission, vision and goals; meanwhile, organizational structure is impacted by mission, vision and goals. Moreover, line structure has both merits and demerits in supply of health care services. In addition, there are two main lines of authority and responsibility which boost the completeness of hospital goals. Furthermore, some functions of hospital structure are useful for hospital to achieve its mission and goals. At last, the aspects of line structure both assist and descend the development of the CHW. Consequently, mission, vision and goals impact the establishment of organizational structure; and organizational structure can help to achieve them. It is recommended that the hospital should change the settled mode of line structure into the informal mode that is more flexible; and hospital might increase the chances of lateral communication as vertical communication (University of Western Sydney 2010) .

Saturday, July 20, 2019

Hate Speech is the Price We Must Pay for Freedom of Speech

  Ã‚  Ã‚  Ã‚  Ã‚  Living in the United States we enjoy many wonderful freedoms and liberties. Even though most of these freedoms seem innate to our lives, most have been earned though sacrifice and hard work. Out of all of our rights, freedom of speech is perhaps our most cherished, and one of the most controversial. Hate speech is one of the prices we all endure to ensure our speech stays free. But with hate speeches becoming increasingly common, many wonder if it is too great of a price to pay, or one that we should have to pay at all.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚     Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Congress shall make no law respecting an establishment of religion, or prohibiting the free exercise thereof; or abridging the freedom of speech,or of the press: or the right of the people peaceably to assemble, and to petition the Government for a redress of grievances.   Ã‚  Ã‚  Ã‚  Ã‚  When the framers of the constitution penned these 45 words could they have known the extent that they would be studied and scrutinize? Are the words meant to be taken literally or is it the â€Å"spirit† to them that is most important? Many views exist and are hotly debated, but most agree that this amendment has enabled some of the best things in the history of our country to be said; and ultimately done. However it has also enabled some of the worst.   Ã‚  Ã‚  Ã‚  Ã‚  When discussing hate speech one has to address fighting words. Fighting words are words that the Supreme Court believes that even the mere utterance of them will inflict injury or incite an immediate breach of the peace. The court also believes these words are unnecessary for anyone to use, and that even if they were not used someone could still express their ideas.   Ã‚  Ã‚  Ã‚  Ã‚     Ã‚  Ã‚  Ã‚  Ã‚  Historically some hate speeches have contained fighting words, but they are view by the court as a separate entity. Fighting words are often classified as having absolutely no social value, and are not protected by the first amendment. In this regard I think that hate speech and fighting words are very analogous to indecent and obscene material. While indecent material might be frowned upon it is constitutionally protected, as where obscene material (also classified as having no social value) is not. This distinction was first made in the early 1940s in the Chaplinsky case.   Ã‚  Ã‚  Ã‚  Ã‚  Chaplinsky was a Jehovah’ s Witness, and one day while doing some face-to-face confrontations as part of his religious practices, an... ...nts think is appropriate. That kind of gathering offers an opportunity for people to talk about something other than the Klan. It also shows the outside world the community does not condone Klan activity.†   Ã‚  Ã‚  Ã‚  Ã‚     Ã‚  Ã‚  Ã‚  Ã‚  Perhaps in the end all we can really do it to try and come to terms with hate speech on a personal level. I believe 100 percent in the first amendment, and I look at having to tolerate hate speech as a price I have to pay for enjoying such a wonderful freedom. I don’t think it would be effective or warranted to limit the peoples freedom in attempts to try and stop the despicable practice of hate speech. Works Cited: The Associated Press State & Local Wire, January 7, 2002. Fales, John The Washington Times, Pg. 11 September 2, 2002. Fein, Bruce The Washington Times, August 6, 2002. Rodrigues, Janette The Houston Chronicle, Pg. 15 January 17, 2001. Taylor, Lynda Guydon The Pittsburgh Post-Gazette, Pg. w3 June 24, 2001 Cases Cited Black v. Virginia, 262 Va. 764, 553 S.E.2d 738 (2001) Chaplinsky v. New Hampshire, 315 U.S. 568 (1942) Texas v. Johnson, 491 U.S. 397 (1989) Village of Skokie v. National Socialist Party 373 N.E. 2d 21 (1978)

Friday, July 19, 2019

Sintering in Fluidized Bed :: essays papers

Sintering in Fluidized Bed Processes for cleaner and more efficient energy generation from feed stocks such as coals, lignites, peats, and waste liquors use fluidized beds that are operated at high temperatures and pressures. These processes involve systems that are multi-phase and have complex chemical reactions. Research work has tackled a number of aspects, including mechanical engineering aspects of the reactors, reaction chemistry and products, characterization and physical properties of the ash, fouling by ash deposits and the phenomenon of defluidization by agglomeration or sintering of the ash particles. It is with this latter aspect, the phenomenon of defluidization, that this contribution is concerned. Defluidization is also a problem in a number of other elevated temperature fluidized bed production processes, including size enlargement by agglomeration, fluidized bed processes for poly-olefin production and metallurgical processes. Defluidization occurs when the particles in the bed adhere. When two particles touch, material at the point of contact migrates forming a neck that is strong enough to withstand the disruptive forces in the fluidized bed. Two categories of adhesion can be discerned. The first type is visco-plastic sintering and it occurs with glassy materials. With these materials, migration is limited by the ability of the material to flow. With increasing temperature the viscosity of the material is reduced and hence the material flows and the size of the neck is increased. At some point, the necks are sufficiently large and strong enough to cause defluidization. The second type occurs when a large quantity of liquid is formed by melting or by chemical reaction. With an increase in temperature, a phase boundary may be crossed bring about rapid defluidization. The liquid formed has a relatively low viscosity and defluidization is caused by the amount of liquid present. This section will primarily f ocus on visco-plastic sintering. Model systems, in which chemical reactions do not occur, have been used to investigate the relationship between process conditions and the tendency to defluidize due to visco-plastic sintering. Materials used have included low-density ploy-ethylene and poly-propylene, soda glasses, metals, and inorganic crystalline salts. Under sintering conditions, the fluidizing velocity has to be increased above the minimum fluidizing velocity, Umf, to a higher velocity, U; at which pronounced bubbling occurs. A fluidizing velocity, Umfs, may be defined as a velocity just sufficient to prevent sintering. This characterizes a different fluidization state from Umf, since the in the latter the bed is in an expanded but not bubbling state.

Thursday, July 18, 2019

Madonna the Goldfinch

Henry Kutilek Grinvalds Humanities (A8) 10/31/12 Emotions From the Finch 100 years ago the first car was made. This created an entirely new form of transportation that was innovative to that generation. Similarly, the 100 year difference between the end of the Medieval Era and beginning of the Renaissance Era showed amazing changes in the form of art. The painting â€Å"Madonna the Goldfinch† by Raphael Sanzio was created in c. 1505-1506. This was the very beginning of the Renaissance Era, and the painting strived for perfection unlike any of the paintings created before it.Madonna the Goldfinch portrays a sense intrigued curiosity, but to those who analyze it will find a guiding informative response with a deep understanding of symbolic foreshadowing. This essay will discuss the visual, expressive, and associative responses experience from Raphael’s painting, The Madonna the Goldfinch. The responded will be ordered by when chronologically experienced. The primary respo nse I feel is visual. The first thing that catches my eye is the pale face of the woman (Mary) and her blue and red clothes. Her face is close to white, its large, and located at the top of the painting.She is looking down, and the expression on her face looks close to surprised, with a faint smirk on her lips. This makes me think she is curious, yet knowing of the situation at hand. Next I look at the two children on the left and right (John the Baptist, Jesus) below Mary. I immediately notice the clothed John and naked Jesus, and then the bird that John is holding. He is offering it to Jesus, and Jesus strokes the top of its head with assurance. He is also being held tightly between Mary’s knees, and she has an arm around John, which makes me feel like she is encouraging him.These three bodies make a near perfect triangle, which balances the painting to a tee. Also, the colors on their bodies contrast the green landscape in the background. I noticed this, and then saw that there is a city very far in the distance across a river (Florence, Italy). If I had been another foot away from the painting I wouldn’t have noticed this, and without the zoom in feature on the google art galleries I would not have known it was a city. Either side of the bodies show two different landscapes, and they are both of equal size.On the left side shows trees in the distance, along with a bridge. The most impressive showings of detail are found in the bird, John’s hair, and the city in the background. This had to be truly amazing for the people in this time period. Not only is this painting artistically impressive, it is expressively impressive. The first feeling I get when looking at this painting is security. Mary is holding Jesus tightly between her knees, and holding an arm around John. Along with this, John is gently holding on to a bird that he is offering to Jesus.Mary’s face looks similar to a teacher watching a student try something new they ju st learned, and her holding the book adds to this. All of this makes me feel guidance, and gives me a motherly feeling of love that can push me along with whatever troubles I have in my life. The aspect of motherly love is exactly how I relate to this picture. I associate this painting with a favorite picture in my house of my mother watching my two oldest brothers play when they were just a few years old. It struck me early on in the viewing of the picture how similar it is to my young family.My mom is watching over them while they are sitting down in the yard, and my oldest brother is offering my other brother a toy to play with. The similarities between Mary’s face and my moms is shocking. These similarities make me think about what is actually happening in the painting, and the story that is being told. This is called the intellectual response. One main theme I see is actually a Renaissance Concept, that that is Emulation of the Classics. Art made in Europe in the Medieva l Era was all mainly funded by the church, and in turn it was made to glorify god.It is obvious this painting is doing something similar, but just with a perfected brush stroke that had depth and balance. Also, the idea of Humanism comes into play. Mary is holding a book that she seems to have just been reading, and in the Renaissance Era people were just beginning to not be afraid to learn. Maybe Raphael was trying to portray that reading is an okay and safe thing to do by having someone as idealistic as Mary reading. I noticed how both Mary and John have halos above their head, but Jesus does not.I was very confused by this at first, and it made my question whether the bird had something to do with it. Upon researching I learned that this bird is a Goldfinch, a bird that eats primarily off of throned plants. The legend is that when Jesus was carrying his cross to become crucified he had a thorn painfully poking at his head, and a Goldfinch flew over to him and removed it from his head. The Goldfinch is often used as a symbol of resurrection, so there is no doubt in my mind that the bird is used as a symbol of John foretelling Jesus about his future. Madonna the Goldfinch† is a truly amazing piece of artwork, with incredible attention to detail. It made me think about how good Raphael is as an artist, but also what he meant to portray. In my eyes, it shows the guidance of a mother and the wonder of two children. It really made me interpret the painting in ways I never have before, like considering facial expressions and what they mean. If I had to rename this painting it would be â€Å"Wisdom of the Goldfinch†. This is because the bird is the focus of the painting and it is causing the emotions of all of the people in the painting, through which wisdom is being passed.

Prada Case Analysis Essay

FINANCE CoursePRADA TO initial offering OR NOT TO initial offering THAT IS THE QUESTION, AGAIN instance analysis Brief summary of the role with the emphasis on managerial problems that Prada faces. Prada unawaresly requires a residenceificant amount of groovy both to re-finance debt that is maturing in the conterminous sixer to twelve months and to finance its intended out evolution into the Asian (especially Chinese) food markets. Since financial markets are apprised of Pradas pressing need to bring on ceiling, it is important for the board of directors to develop a credible scheme for gentility the requisite detonating device of at least 1 billion. Although the press has been suggesting that Prada forget do an initial public offering, the comp all has tried this some(prenominal) times in the past with no success, mainly because of bad timing (9/11, the s evere acute respiratory syndrome outbreak, and the ongoing global financial crisis and atomic number 63an s al l overeign debt crisis).The board has approached Guido Santini of the investment depone Grupo Capo Milano to come up with a sum up of credible alternatives and a strategy for raising the needed chapiter. 1. What is the current and in store(predicate) prognosis for the opulence goods segment over the next couple of social classs? How should Prada position itself to lard in this market? Luxury goods segment proved to be resilient to the sparing crises and had systematically grown from 1994 till 2010.The luxury industry grew approximately by 2% per year until 2007, and by 1% per year from 2007 to 2010.Beginning from 2010, the global luxury goods market started a new growth chassis driven by emerging markets.This was a significant change as growth was usually driven by the certain markets, especially the US. Prada needs to support a global portfolio of leading luxury brand. undermentioned the series of acquisitions and consistent with its attempt to change state one of t he top global brands Prada consistently worked on expanding its global footprint by opening and running its own stores nearly the world. 2. What should be Pradas priorities in ascertain the exceed way to raise capital letter now?What are Pradas priorities in evaluating several(predicate) ways of raising the notes it requires? How do these relate to Pradas strategy? I choose initial offering over Debt and Strategic partnership. Compare to issuing debt, an initial public offering will not add any more burden to the companys balance sheet, which for Prada, was already showed a sign of insolvency and over leveraged. Another issue is that no firms in this industry have ever raisedmoney in US follow market. Although dim sum bond a Chinese Yuan denominated bonds issued in Hong Kong could be the beat out alternative to this situation, however, the short life and the exchange risk it tough are its most disadvantages. How about change some portion of the firm to the nonpublic equ ity firms to raise capital? For this deal, it seems that they will not only offer a sizeable premium to the family, but also to offer some important positions on the board too.But, compare to IPO, it will not increase Pradas publicity done this method. And also, an IPO in Hong Kong will pass off the company more opportunity to expand their Asia market, especially in China and Japan. Choosing a Strategic Partnership would be respectable like giving that huge effectiveness profit away. 3. What are the different sources of capital that Prada should consider? Should there be a preference for debt versus equity? Should there be a preference for raising capital in one country sex act to another? Should there be a preference regarding the types of investors? How would these influence the attractiveness of the different available sources of capital for Prada? Equity IPO in HK1.higher valuation than listed in Europe2. aim to the Asia market1.HK market has overthrow liquidity (page 7. Sect. 2)3.potential tax problemHKDR1. listed in Milan but also can be bought and sold by investors in HK. 2.help future negotiation in China3. whitethorn have lower valuation than IPO in HK4. higher appeal than IPOStrategic partnership1.current price for PE exploit is attractive2.higher premium 1. higher cost than other alternatives3. may cause partially loss of control of the corporationDebt tralatitious corporate bond1. easily priced 22. further potential financial problem3. higher leverage ratio4. How would you propose the board of directors proceed?One of the best solutions for Prada to solve this problem is to raise capital in the stock market, which we could refer as IPO. Given the current market conditions, listing in Hong Kong might appears to be the best choice after all.