Red Bull Case : Digital Marketing

He immediately saw an opportunity to market those functional drinks outside Asia. Mathematics approached the manufacturers of the drink, bought the foreign licensing rights in exchange for a 51 % stake in his company, and launched the drink in Austria. That's how the Red Bull company was founded in 1984. The drink was sold exclusively in Austria for five years and then spread into neighboring countries like Hungary and Slovenia, followed by Germany and Switzerland. It invaded the United States and Canada In 1997, and was authorized in France very recently.A closer look at Red Bulls strategy 2 roof is not really determined by a demographic, but by a â€Å"state of mind†. Red Bull consumers want to be physically and mentally fit and wide awake. It can be young executives who want to face a more and more dynamic and demanding way of life. Or it can be teenagers who want to try new alcoholic mix, and be able to stay awake and to dance all night long. At least, it could be sportsme n who want to improve their performance, increase their physical endurance and boost their energy.These people are very hard to seduce because there are many brands competing on the market. Figure 1 – Examples of competitive products The positioning of Red Bull is : It is the first stimulation drink, for both mind and body, to be used at any time, anywhere, by anyone, not only as a thirst-quencher but also as a cure against tiredness. To build its brand equity, Red Bull developed an eye-catching logo : two bulls and a yellow sun, and an effective,†Red Bull gives you witlings†. Red Bull's brand equity is mainly based on word of mouth, which gives the product a mystical image.Due to this mitosis and the WOOF strategy that build a very strong brand awareness, the reduce has a really strong â€Å"affect† with the customer, which leads to a bunch of rumors, good and bad ones. The strategy Red Bull adopted is totally unusual. They did nod use traditional informat ive or persuasive communications and it restricted the drinks supply. Red Bull used â€Å"buzz marketing† and Moral marketing†. The company has divided the U. S. Into eight decentralized sales units, each of which is handled on a city-by-city basis.Each unit creates distribution, makes sales calls and develops targeted marketing plans. Their mission is to find out where the target nags out and what interests them. It's their Job to get the message out to the right clubs and at the right events. Their entry strategy is to seed happening places such as shops, clubs, bars and stores. They focus initially on opinion leaders who obtain positive direct experience with the brand. Once word of mouth has created a buzz about the product, they then widen distribution to areas surrounding the â€Å"in† spots.Markus Pickier, eve-strategic planning, Red Bull North America said â€Å"We go to on-premise accounts [vs.. Retailers] first, because the product gets a lot of visibi lity and attention. It goes faster to deal with individual accounts, not big chains and their authorization process. Employs teams of â€Å"consumer educators,† who distribute free samples in the street. Bull created and cultivated its brand image by sponsoring extreme and adventure- related sports, such as foreseeing, B. A. S. E Jumping, snowboard, mountain hiking or more recently Formula 1 .The company underwrites a number of extreme sports competitions and sponsors about three dozen athletes from alternative sports. In the antithesis of any major's marketing plan, Red Bull buys traditional advertising sat. Only when a market is deemed mature does the company begin a media push. The idea is to reinforce, not introduce, the brand. â€Å"Media is not a tool that we use to establish the market,† said up-marketing David Rowdy. â€Å"It is a critical part. It's Just later in the development. Red Bull's marketing strategy Contrary to traditional advertising practice, Red bull only advertises after it believes a local market is maturing. Instead of traditional advertising, Red Bull relied on a strategy of word-of-mouth or â€Å"buzz† marketing. Red Bull focused on creating a buzz wrought various stealth marketing techniques, playing on associations with energy, danger and youth culture, carefully cultivating its mystique image. Mathematics invested 35% of turnover in marketing and sponsorship in events.In his words, â€Å"we don't bring the product to the people, we bring people to the product. We make it available and those who love our style come to us,† adding, â€Å"Red Bull isn't a drink, it's a way of life. † The above the line communication: Red Bull gives you wings. The aim of their advertising campaigns is to reflect the brand personality: Cheeky, witty, self-ironic, unpredictable and unique. Opinion leader marketing: Opinion Leaders, especially in the sport and cultural area, are a perfect target group for Red Bull. Red Bull develops relationships with them and treats them like friends.Red Bull worldwide has over 250 agreements with top athletes, but not one written contract. Event marketing: Red Bull's event marketing also covers both areas, sports and culture, through a variety of events like Flag, Crashed Ice, X-Fighters, Creative Contest, Music Academy, and many more. Red Bull doses ‘t sponsor events, Red Bull creates, organizes and supports new, innovative and image. Through its sponsorship of youth culture and extreme sports events, Red Bull developed a cult following among marketing-wary Generation Y-errs, (18- to 29-year olds) who perceived it as an anti- brand.While it was marketed as a sports drink, it was mostly sold in clubs and bars Sampling Sampling is done by highly motivated and well educated employees of Red Bull and not â€Å"professional† promotion teams. Their briefing is simple: Find tired and exhausted people. They do it in a charming, non offensive way. All we g ive them is the product, a free range of clothes and a tiny, but very attractive sampling car. As their core target is very young, Red Bull needed to secure a huge presence on the Internet, which is by far the media that young people use the most.With their word- of-mouth based strategy and their buzz marketing, it was quite obvious that Internet was going to become a very powerful tool for Red Bull. They are aware of the fact that Internet has brought people together and allowed everyone to be connected no matter where they live. Thanks to the new social and digital age, people can share their experiences and knowledge through the building of social networks and communities. Red Bull's online marketing strategy is very cohesive to their overall marketing strategy. It is based on word-of-mouth and creating a buzz around the brand.Whether it be with sport, music or culture, Red Bull offers long-term content that the consumer will enjoy so they can talk about the brand on blobs for ex ample and tell their friends about it. Rather than focusing on selling millions of cans, they just prefer creating a universe that people will love, most of the time through effective storytelling. As I said before, Red Bull's marketing strategy involves a lot of event organization round the world. Red Bull takes the excitement of being in the event and delivering it to people across communication, and most of that is done by digital communication.In fact, 50% of Red Bull's communication budget is dedicated to digital media. Backbone has a presence on many of social platforms, including Backbone, Twitter, Namespace. Yet Red Bull is aware that it is no longer enough to have a fan page on backbone for example, not only because a large majority of companies have one as well, but also because people get bored very easily and their attention is becoming more and more difficult to catch. Red Bull understands this issue and offers a lot more than mere online product promotion. They provide their consumers with meaningful content.Each event organized and sponsored by Red Bull has its own website (for example,www. Redistributable. Com) They offer a number of short pieces of content, such as videos of the previous events, content about the riders, the tricks, behind-the-scenes, parties, etc. Those pieces of content are also displayed in social platforms, Namespace playing generally a role of a hub where all of the content comes together . This is how Red Bull started to build their fan community. It enables Red Bull to create a number of access points that the consumers discover, experience the content and get involved into Red Bull's world.On backbone or Namespace, the one of the most popular pages with over 2 400 000 fans. It is tailored to the consumers' wants and needs. They don't advertise their product directly, they don't even bother giving details about the accompany vision and mission, leaving only a very short description at the bottom of the page. On the othe r hand, they offer some entertaining, simple yet addicting games that consumers enjoy, such as the Red Bull Air Race game. Some others fun applications are available on Backbone, such as Red Bull Roustabout, which is an online version of the old game â€Å"Rock Paper Scissors†.Bart Johnston, Interactive Director of Archival which developed the application said â€Å"We wanted to create a viral application for Backbone Platform that was fun and playful. We think people will ask their friends to install it because it's a really interesting way of saying What's up? To your buddy. † 3 Figure 2 – Red Bull's official fan page on Backbone Video content is a good way to start but it does not necessarily create engagement, which is Red Bull's main objective. Therefore they found other ways to entertain their customers. For instance ‘phone and ‘pod touch users, they developed applications and games.Understanding their consumers is a major concern for Red Bull so they knew about their extensive use of chatting platforms such as mans. They also knew that Mans users tend to be on mans while watching TV, so they are working to get them engaging with it so they could then play, talk, share it with their friends while watching TV programs. Therefore they created a game on mans, that could be shared n backbone as well (that way content remains cohesive). This is a really effective way for Red Bull to get their consumers involved and active in the community.Figure 3 – Red Bull's ‘phone games Taking one step further, Red Bull initiated in 2009 a new project called Red Bull reporter 4. It gives the opportunity to anyone to become a Red Bull reporter, and start working for Red Bull as a writer, photographer, filmmaker or presenter. The consumer has complete control on the creation and sharing of the content. As Red Bull has hundreds of events going on all over the world. It can be huge event that attract over 50000 people on the event site like the Red Bull flagstaffs, but it can also be smaller events like the mascara pit stop in Time Square, or the Donkey cross in Greece.Red Bull is trying to leverage these projects by sending their reporters to these small events so they could write reports, do presentations, videos, and finally come back and submit them on the website. This time it is not Red Bull that creates the content but the consumers themselves and they are in total control of it. They are responsible for sharing it and spreading it. Again for Red Bull it is all about engaging them to greater collaboration.Figure 4 – Red Bull reporter Another example of the content creation process, even more engaging than Red Bull Reporter, would be the Red Bull Bedroom Jam 5, because with this project consumers become the content that is celebrated and discussed. Teen bands submit their music and their peers would vote and Judge which one they think are the best bands. The selected bands get to have a stage set up in their bedrooms by Red Bull, and it gets streamed live across the Internet. A chatting functionality allows people to interact with each other and tell everyone about the bands they like the most for example.The consumer is at the heart of the project. Red Bull steps back and only plays the role of a facilitator. The consumers are the real star, not Red Bull, which is an important point of Red Bull's online marketing strategy. Figure 5 – Red Bull Bedroom Jam Another key point for Red Bull is to cross the boundaries between the digital world and the real world, and treat them both the same way. Red Bull racing for charity was originally created to take Formula 1 from its very exclusive format and make it a more inclusive one, getting people really closer to that world.Red Bull created an inline community where fans could choose a space for their photo on the car that was driven at Siltstone by David Calculator and Mark Webber, chat with people around them, sometimes even celebrities. This resulted in a very unique decoration on the car and raised money for charity. Still trying to get people closer to the world of formula 1, Red Bull created content through Twitter and an Phone application called Redouble Flops, that allows people to have a direct info from the Fl paddock, with little stories and anecdotes that come directly from the inside. Figure 6 – David Calculator's car at Siltstone Creating all those tools, platforms and content allows Red Bull to make the consumer forget that their primary and ultimate goal is to sell energy drink cans. It is all about getting commitment from their customers, trying to engage and excite consumers about the brand by being part of their world and contributing to their world in a way that it does not feel false or fake. Internet could have contributed to harm Red Bull's brand image by spreading all sorts of rumors about the energy drink.One of the rumors that has been circulating for a while says that Re d Bull's secret ingredient is bull's testicles. Another states that it is â€Å"liquid vicarage† and that someone overdosed from the drink because it has drugs in it. Obviously all these rumors are false and they could have been really bad little attention to those rumors, remained silent and let the rumor spread. There is only a FAQ section in the main website confirming that all those rumors are false. This lack of communication contributed to fueling the buzz around the brand, creating Red Bull's mystique and building their fan's community all over the web.Red Bull doesn't really innovate through its products – it doesn't launch new products al the time, instead it innovates through its marketing. Hence, they created Red Bull Media House, which conducts all the media and public relations work, and that is responsible for the launching of other platforms such as Red Bull magazine, Red Bull mobile (which for now is only available in Austria, Switzerland and Germany), or Red Bull TV. As it becomes a bigger part of the consumers lives, Red Bull's marketing actually becomes their product.We saw how Red Bull leverage social media to market their products by provide their customers with meaningful content. Sometimes, they tend to be a little too aggressive by doing what is called ambush marketing. Ambush marketing occurs when a brand pays to become the official sponsor of an event and another brand tries to connect itself to the same event, without paying the sponsorship fee and without breaking any laws. Nikkei used such methods a lot to gain some visibility on sport events that were officially sponsored by their main competitors Rebook and Aids.At the 1992 summer Olympics in Barcelona, Nikkei sponsored press conferences with the US basketball team despite Rebook being the official sponsor. During the last Olympic Ames in Vancouver, Red Bull also did some online ambush marketing. Red Bull posted some items to encourage their athletes on Twitter and Backbone, even though they weren't officially sponsoring the event. By doing that they were violating the Olympic rules, which say that advertiser who don't pay for an official sponsorship cannot associate their names with the games or the athletes during the events or the weeks surrounding them. We're rooting for you @Landslide's @Shawn_White @Greeted and @Dresses in the 2010 Winter #mimics! † Red Bull removed all Olympic-related Twitter posts, but argued that â€Å"the dynamic and nonuser-driven nature† of social media make it tricky to â€Å"stay within guidelines as they are defined. † 9 How can Red Bull do even better? Red Bull's use of Internet and social media is very innovative. It differs from most companies' strategy in the sense that it really involves the customer in the content creation and sharing process.It engages the customer and get them closer to the brand. Red Bull's online marketing strategy is also very cohesive, every tool they used access to content on Twitter, Namespace and Backbone simultaneously. In my opinion, Red Bull is already one of the best examples of successful online racketing strategies, and this is partly why I chose to talk about it in this paper. It also makes it even more difficult to explain how they could get better. Red Bull's strategy has proven more than efficient so they should keep on offering meaningful and entertaining content to their consumers.

James Baldwin’s Sonny’s Blues Essay

In James Baldwin’s short story â€Å"Sonny’s Blues† a young man questions his brotherly obligations after finding that his younger brother has been arrested for using drugs. In the attempt to rectify his younger brother’s behavior and life, the young man faces his own feelings for his brother and comes to terms with the life his brother Sonny lives. The developments of certain elements-plot, character, point of view, setting, symbolism-in the story help accentuate the narrator’s struggles and theme(s) of the story. One of the most important elements of this story is the setting. Taking place in the drug-plagued, poverty-stricken, and frustrated streets of Harlem in the 1950s, the setting aids any reader in understanding the obstacles and hardships the narrator and his brother faced growing up in Harlem. From the narrator’s description of the setting, we can infer that the violence, drug abuse, and indigence in the narrator’s community, Harlem, has had a deep emotional impact on him and his brother. Furthermore the setting can also be argued to have somewhat attributed to Sonny’s difficulties. The point-of-view also plays a pivotal role in providing an insight into the lives of the narrator and Sonny and the environment in which they were raised. The story is told in first person by Sonny’s brother, an unnamed narrator. Although the story’s title might invoke the sense that Sonny is main character, making the narrator a subordinate character, the story is as much about the narrator as it is about Sonny. Through the narrator’s perspective, we see the torn city of Harlem and the hurdles that Sonny has faced and will face. The narrator is more aware of Harlem’s dangerous and violent side. In numerous instances, he describes the poverty and crime that are rampant in the community. More importantly, the narrator’s point-of-view enhances the emphasis on the relationship between him and his brother. Furthermore, the narrator is an excellent narrator because he is able to give us a reliable glimpse into to Sonny’s life and his own. The development of the plot stands out as one of the most crucial elements of the story. From the very beginning, the narrator discovers that Sonny has been arrested for his drug use. This action engenders the narrator to reflect on his relationship with Sonny. The discovery of Sonny’s arrest quickly conveys to us a point that is so central to the story. Following the introduction of plot is the conflict. The conflict of the story centers around the narrator and Sonny arguing about Sonny’s decision to become a jazz musician. This conflict,however, has happened before the situation in the introduction of the story but is mentioned further in the story. Sonny’s desire to become a jazz player is seen as a waste of time by the narrator. Consequently, tension is formed between the brothers because of their lack of agreement on the issue. The tension between the brothers gets even more complicated when Sonny moves into the narrator’s apartment. During this part of the story, the narrator and Sonny try to come to terms with themselves and each other. The climax of the story is when the narrator and Sonny argue in the apartment. This is the most important part of the story because both brothers have a brutally honest argument. The narrator discusses Sonny’s drug use, his misunderstanding of Sonny as a musician, and Sonny’s frustration in life. This argument between the two brothers resolves when Sonny invites the narrator to come hear him play. The story concludes as the narrator sends Sonny a drink. The narrator finally understands how important music is to Sonny. The story leaves the readers with the impression that both brothers may finally find peace with each other. Another critical part of the story is the symbolism. Baldwin’s use of the light and darkness as two forces that are constantly clashing with each other is very symbolic in what it conveys. These two contrasting forces seem to highlight the hope and despair of the characters’ lives. At beginning of the story, Baldwin uses light to describe the room full church people. This suggest that light represents positive moments in life. In contrast, darkness represents the problems and struggles of the characters’ lives; it is also more pervasive in the characters’ lives than light. Sonny’s problems and the condition of Harlem are embodiment of the widespread darkness in the story. At the end of the story, the narrator sends a glass that he describes as â€Å"the very cup of trembling. † This very cup highlights the troubles and uncertainty Sonny currently has in his life. It symbolizes Sonny’s effort to redeem himself of the suffering he has caused and endured. Given its unique structure, â€Å"Sonny’s Blues stands out as one of Baldwin’s most critically-acclaimed works. Collectively, the elements of the story paint a picture of the atmosphere during one of Harlem’s renown periods. In conclusion, these elements of â€Å"Sonny’s Blues† enhance the story’s meaning and shed light on the difficulties Sonny and his brother faced.

The rate of caesarean section

Back land From the last few decennaries the rate of cesarean subdivision is go oning to lift in many parts of the universe, particularly in industrial states. Ratess of hundred -sections have been increased in Norway as in the remainder of the western universe since 1970. Although C-section is a safer option to a hard vaginal bringing where there is a clear medical account for its usage, there is still possibility of long term wellness hazards to the female parent and kid due to its unneeded usage ( MacDorman, et al. , ( 2008 ) . Maternal complications due to cesarean subdivision include, complications due to anaesthesia and surgery, and longer term generative morbidity and mortality in following gestations. Babies born by cesarean subdivision are more prone to hold respiratory hurt, less breast-feeding and likely more atopic diseases ( Tollanes, ( 2009 ) ; Van den Berg A, ( 2001 ) and MacDorman, et al. , 2006.Ramachandrappa, 2008. By taking into history the economic facets of the bringing method, it has been observed that cesarean bringings are more dearly-won than vaginal bringings. Harmonizing to an audit committee study published in 2002 in the UK, a cesarean bringing costs hospitals an norm of & A ; lb ; 1,701 as compared to a vaginal bringing which costs an norm of & A ; lb ; 749. Therefore a one per centum rise in CS rates costs the NHS an excess & A ; lb ; 5million per twelvemonth ( station note 2002, p. ) . In add-on, adult females who have a cesarean subdivision are more likely to remain longer in the infirmary and sometimes hold to be re-admitted in the infirmaries due to injure infections and other complications. It may besides be of import to believe about long term wellness attention costs due to the services used by adult females themselves and their babies following a cesarean birth ( Wendy Sword, et al. , 2009 ) . In consideration of that first cesarean delivery subdivisions about guarantee that following gestations outcome will be Cesarean bringings. It can be a fiscal load for society and the national wellness system ( Sword, et al. , 2009 ) . World- broad high rates of cesarean bringings are a affair of concern to international public wellness due to its effects on maternal and child wellness and the associated socio-economic effects on society. Literature reappraisal shows, high rates of cesarean delivers among all female parents irrespective of age, ethnicity, gestational age and medical position ( Menacker, et al. , ( 2006 ) and MacDorman, et al. , ( 2008 ) . None the less concerns have been raised over the high cesarean birth rates that go beyond the World Health Organization ‘s ( WHO ) suggested rate of 15 % and its possible hazards to the maternal and antenatal wellness ( Wendy Sword, et Al ; 2009 ) . In order to halt this progressive rise in rate of operative bringings, a elaborate analysis of the factors lending to this addition is required. Many epidemiological surveies have been conducted in assorted states to find the factors responsible for the planetary rise in Cesarean subdivisions. Datas analysis from different surveies found a figure of medical and non-medical factors that are responsible for the addition of cesarean bringings both in developed and developing states. Medical factors accountable are raise in maternal age, high organic structure mass index ( BMI ) and alterations in medical pattern as explained by Tollanes ( 2009 ) . Tollanes ( 2009 ) identified maternal penchants ; improper pregnancy attention and fright of legal action among accoucheurs are major not medical ground for high prevalence of cesarean subdivisions. However, supervising the overall rate may non be helpful in cut downing unneeded cesarean subdivisions. It may be more utile to descry and take at subgroups of adult females in whom undue cesarean subdivisions could be avoided. To categorise subgroups of adult females who could be observed for possible hazard of cesarean bringings, a figure of surveies have been conducted in many states. An analytical survey was carried out in Latin America by, World Health Organization ( WHO, 2004-2005 ) ( Betran, et al. , 2009 ) . In this analysis two subgroups of female parents were identified to lend high rates of operative bringings that need to be monitored more closely. These subgroups include adult females with a individual full term cephalic gestation: ( a ) with a history of old cesarean delivery and ; ( B ) those female parents who had c-deliveries after initiation of labor or who had elected cesarean deliveries ( Villar, et al. , 2006 ) . Numerous surveies have focused on familial heritage of medical factors responsible for complications of gestation and its results ( Rolv T, 2007 ) . A argus-eyed survey of non- medical hazard factors may let us to place grounds for the increasing rates of unneeded Caesarean bringings which are conformable to alter. In order to measure these non- medical hazard factors and their familial heritage within the coevalss and across the coevalss quite a few surveies have been conducted ( Vernal, et al. , 1996 and berg-Lekas, et al. , 1997 ) . Study design This survey aimed to place not medical hazard factors for elected cesarean subdivisions and their biological heritage within households. Using informations from Norway is valuable if an apprehension is to be developed of the increasing operative bringing rates, specifically within this state but potentially in other contexts as good. In this design a population-based information from the Medical Birth Registry of Norway ( MBRN ) was used and a retrospective- cohort of singleton unrecorded borne full term gestations was established with the aid of national designation figure. A cohort of 440236 grandmother-parent units and 275001 same sex full siblings units were constructed from singleton birth registered in the MBRN during 1967-2005. Out of 440236 grandmas -parent units, 261156 were being identified with a female neonate and 179080 with a male new born, who became female parent and male parent subsequently in life. For the same sex full sibling unit 153085 braces of full sisters and 121916 braces of full brothers out of 275001 with their first birth were compared. In instance of grandma -parent units merely the first birth of each female parent and male parent was observed but female parents and male parents themselves were allowed to be of any birth order. To look into the familial heritage to non- medical fact ors, units with high hazard factors for cesarean subdivision were ruled out and low hazard subgroups of grandmas -parents units and full sibling units of sisters and brothers were constructed. Log – binomial arrested development theoretical accounts were used for statistical analysis in this survey to mensurate the comparative hazards. In instance of grandmother- parents units the exposure was grandmother presenting parents by cesarean and result was cesarean bringing for parents ‘ first kid. While in instance of full siblings unit the exposure was upwind older siblings first babe was born by cesarean bringing and result was measured by cesarean bringing in younger siblings ‘ first kid. In this survey at that place has been a clear addition in primary cesarean bringing without a medical or obstetrical indicant. While confusing has been minimized as a consequence of the full accommodation of all aetiological factors at every phase of analysis, there may however be residuary confounding. Present work involved two separate analyses. First analysis compared manner of birth of first kid in all female parents and male parents borne by c- bringings to the all female parents and male parents borne by vaginal bringings in both high hazard and low hazard parents. Consequences of this survey showed female parents borne by cesarean subdivisions due to complications of gestation and labor had 55 % higher hazard of cesarean bringings than female parents borne by vaginal bringings. A 95 % assurance interval ( 1.48-1.62 ) seems to be rather important and demonstrated strong statistical grounds of associations with the relevant result. In instance of female parents borne by cesarean delivery after a low hazard gestation consequences showed twice the hazard of giving birth by cesarean subdivision. A wider spread in assurance interval minimizes the value of comparative results and its cooperation in wider population. Strengths of the survey One of the chief strength of the survey is the proviso of a big sample, which means that there is satisfactory possible to observe little but clinically critical associations. Another advantage of this survey is usage of a cohort design as compared to a series of cross-sectional surveies that would necessitate to take on new members for each survey. Cohort survey is quicker and cheaper as less proficient staff is required to roll up informations. There is no demand to follow persons over clip because all the information is already available so there is less opportunity of loss of contact and lose valuable information. In these analyses the exposure and outcome step is likely to be accurate since the accoucheuse and medical staff involved in the bringing is responsible for entering this information informations instantly after the birth. More confidence can be found in the truth of the collected informations because participants were non required to remember events for long periods of clip. These theoretical accounts are simple in design but let the geographic expedition of the hazard factors which may impact the whole community. These are called incident surveies. Restrictions of the survey Although this analysis is typical by analyzing a countrywide information of pregnant adult females and their comparative results, it has several restrictions. First, the truth of the collected information is hard to measure for all factors. It is more likely, that clinical pattern may hold altered or new factors may hold emerged, that influence manner of bringing. Several features of single adult females ( such as para, maternal age, and weight addition during gestation ) have been quoted in the literature as being associated with Caesarean subdivision. Joseph, et al. , ( 2003 ) investigated that alterations in maternal features and obstetrical pattern may lend to recent addition in c- subdivision prevalence. If these factors can be identified it may bespeak cardinal countries that could be targeted to command Cesarean subdivision rates. However, the variables identified in these theoretical accounts are every bit applicable to current clinical pattern. Data recorded over a long period of clip may besides be apt to alterations in definitions and coding systems. Second the quality and completeness of recorded information is important for a cohort survey design. Particularly in a retrospective cohort study the research worker goes back in clip to specify exposed and unexposed groups and re-evaluate medical records to follow participants for outcomes. As everyday information systems are planned to function as surveillance, and non a research survey, some informations may be losing or inaccurate. Another disadvantage of everyday informations may non be able to supply all the necessary information on other of import hazard factors under probe which, if unaccounted for may take to bias. Northam and Knapp, ( 2006 ) Comparison with other surveies This research adds to old work on tendencies and an aetiological factor associated with C- subdivision and on the whole has similar findings. In all analyses, maternal and fetal hazard factors ( such as, maternal age, placenta previa, gestational diabetes, eclampsia and pre-eclampsia, macrosomia and many more ) were found to be independently associated with increased rates of Cesarean subdivision. These have the possibility of maternal and fetal heritage, which is in maintaining with other surveies. ( Lie RT, 2007 ; Plunkett J, 2008 ; Onsrud L ; Onsrud M, 1996 ) . There are several socio-cultural and environmental factors acknowledged in the literature related with C- subdivision has non been confirmed by this research. For case, many surveies have found societal category, nature of employment, and educational attainment, to be associated with Caesarean subdivision, none of which were observed to hold independent associations with manner of bringing in these analyses. This position has been supported by the work of Tollan, et al. , ( 2007 ) , who described the association between cesarean subdivisions and maternal societal background. Consequences of the survey showed that degree of instruction is reciprocally related to the hazard of cesarean bringings. Similar findings have been observed by Torun, et al. , ( 2006 ) sing socio-economic position of adult females and related hazards to the gestation outcomes. Giulia, et al. , ( 2008 ) explored the function of societal category and consequence of educational grade on cesarean bringings in Italy. This research besides concluded female parents from lower societal category and with lower educational accomplishment are more likely to present by cesarean subdivisions than female parents with higher educational degrees. On the other manus some surveies found a direct association between high cesarean subdivision rates and high socio economic place. Found C -deliveries are more common among those low hazard nulliparous female parents, who are good educated, belong to high socio economic category and have better surplus to prenatal attention. In UK, NHS obstetrician identified that 1.5 % of all C -sections are recognizing to maternal life style and picks in the absence of any clear medical indicant. This has been suggested due to the tendencies in several famous person adult females to give birth by elected cesarean delivery as these female parents are † excessively classy to force ‘ ( Postnote, 2002, p.2 ) . Lei, et al. , ( 2003 ) stated adult females ‘s medical insurance, societal position and penchants, are implicative for a considerable addition in rates of elected Caesarean bringings in China. The continuously high rates of elected Cesarean subdivision ( ECS ) performed at a adult female ‘s petition in the absence of a recognized obstetrical indicant, is going progressively common in the most developed states. ( Gamble and Creedy, 2000 ) . McCourt, et al. , ( 2007 ) reviewed published literature refering maternal petition for elected cesarean delivery and observed a really little figure of adult females bespeaking for cesarean bringings. The research worker evident a scope of non-medical grounds, such as the adult female ‘s fright of kid birth, her desire to give birth on a lucky day of the month or clip, or her apprehension that an operative bringing would salvage the babe ‘s encephalon from injury or injury. Weaver, et al. , ( 2007 ) observed similar association between psychosocial factors and maternal petition for cesarean bringings in UK. However, these surveies contain no clear information whether these cesarean deliveries were the consequence of maternal petition or because of physician recommendation. More research is needed to find the factors associated with maternal penchants, obstetrician pattern form, and institutional civilization, personal and societal grounds that affect the determination to hold a cesarean bringing. In the instance of ethnicity and race, the survey country has no cognition of cultural minorities and this may hold underpowered this portion of the analyses. Evaluation from different surveies showed linkage between cultural and racial subgroups and maternal and neonatal results. This position has been supported in the work of Johnson, et al. , ( 2005 ) . Vangen, et al. , ( 2000 ) found a significant fluctuation in cesarean delivery rates among different cultural communities in Norway. Similar consequences have been described by Robertson, et al. , ( 2005 ) sing hazard of non vaginal bringings and female parent ‘s state of birth. This could be explained by fluctuations in proviso and usage of wellness services by people of different socio cultural beginning as described by Berkin ( 1990 ) . NY, et al. , ( 2007 ) observed tantamount findings in the usage of wellness services by people of different cultural background in Sweden. For the other factors, this research has minimized confounding and suggests that they are non independently associated with manner of bringing in the survey population. Maternal tallness and weight are one of the of import hazard factors non verified in this analysis. McEvoy and Visscher, ( 2009 ) both described eighty per centum of human growing is under familial control suggestive of resemblances and fluctuations in tallness and weight between relations. Many surveies summarise that both familial and environmental factors regulate the human tallness and weight in different populations ( Letter, et al. , 2008 ) . Similarly strong familial association for organic structure mass index and human stature was found by Sammalisto, et al. , ( 2009 ) . Letter ( 2009 ) highlighted the engagement of cistrons in difference in grownup tallness and stature. Work of Hirscohhorn and Letter, ( 2009 ) besides provides valuable information sing biological heritage of human growing and familial fluctuations in tallness within a population. Several surveies conducted in developed states have found that pre- gestation fleshiness, a turning social tendency, is associated with an increased likeliness of maternal and fetal complications responsible for cesarean subdivisions. Harmonizing to these surveies overweight female parents are more likely to hold preeclampsia, gestational high blood pressure, fetal congenital anomalousnesss, macrosomia, and gestational diabetes, and cervical dystocia, initiation of labor and cesarean bringings. Similar tendencies are described by Bhattacharya, et al. , ( 2007 ) and Crane, et al. , ( 2009 ) . This position is besides supported by Satpathy, et al. , ( 2008 ) who studied the inauspicious consequence of fleshiness related to complications during gestation and labor. Poobalan, et Al. , ( 2009 ) found that hazard of cesarean bringings could be more than double in fleshy adult females as compared to female parents with normal BMI. Young and Woodmansee, ( 2002 ) found increased BMI and weigh t addition are more likely associated with CPD and failure to come on in nulliparous adult females. Mollar, Lindmark ( 1997 ) evaluated the relationship of maternal tallness to obstructed labor and cesarean bringings. Kara, et al. , ( 2005 ) stated that short maternal stature is associated with an increased incidence of obstructed labors due to cephalopelvic disproportion ( CPD ) . CPD is still a major obstetric hazard factor for maternal and infant mortality in many parts of the universe where operative bringings are non readily available. Harmonizing to the World Health Organisation ( WHO ) about 529,000 maternal deceases occurs throughout the universe per twelvemonth and obstructed labor is one of the major obstetrical factor responsible for these maternal mortalities ( WHO, 2005 ) . Hoefmeyr ( 2004 ) identified an eight per centum of maternal mortalities are due to obstructed labor. To look into the hazard factors for C-Section due to CPD a survey was conducted by Khunpradit, et al. , ( 2005 ) .Who observed maternal tallness less than 150 centimeter and weight more than 15 kilogram is significantly related to increased hazard of CPD. Scott, et al. , ( 1998 ) found short statured adult females are more likely to hold hazard of C-sections for CPD than the taller female parents. Variations in maternal pelvic sizes and forms and foetal sizes could be explained by biological heritage in different populations.This is described by Vernal, et al. , ( 1996 ) that female parents who are being borne by cesarean bringings themselves due to cephalopelvic disproportion ( CPD ) are at a greater hazard to hold CPD subsequently in their lives. Berg-Lekas, et al. , ( 1998 ) observed opportunities of operative bringings between coevalss and within coevalss by comparing mother-daughter units, sister units and duplicate sister units and found a important uneven ratio between them. These happening show familial heritage to CPD, perchance through familial effects on female parents ‘ pelvic girdle dimension or foetal weight. Lunde, et al. , ( 2007 ) explained maternal and foetal familial factors responsible for fluctuation in caput perimeter, birth tallness and weight within households. Beaty, ( 2007 ) Heritability of little size maternal pelvic girdles and big size fetus could be another account of familial sensitivity of operative bringings. Finally, this information did non hold any information about institutional features, as type of infirmary, and type of professionals go toing the births. J, et al. , ( 2009 ) studied the relationship between societal category and type of pregnancy services used by urban occupant in southern Europe and found high rates of cesarean subdivisions among high societal category presenting in private infirmaries. Potter, et al. , ( 2009 ) ( 2001 ) stated that in Brazil, higher rates of c- subdivision were among adult females delivered in private pregnancy units as compared to public infirmaries. Almeida, et al. , ( 2009 ) observed similar findings and suggested that most of the cesarean deliveries were scheduled harmonizing to adult females ‘s or doctors convenience and showed no clear medical justification for the process. Decisions Despite the survey design and methods this research reflect that there are increasing cesarean delivery rates in low hazard population. These analyses have verified assorted of import prenatal hazard factors for elected cesarean bringings and highlighted their familial association. In add-on, these findings can be utile for early designation and guidance of high hazard female parents sing their penchants to different bringing methods. These findings can be incorporated into public and private pregnancy attention sectors, medical managers, and decision makers in early hazard appraisal and strategic direction. More surveies are required to widen the range of possible biological heritage of non medical hazard factors and their correlativity with socio cultural background. Further research is needed sing maternal petitions and penchants about child birth including information about picks and knowledge relation to the usage of intercession and its long term outcomes. An appropriate methodological analysis should be used to detect maternal satisfaction with labor and bringing attention and interactions between patients and attention suppliers. A comprehensive survey of cultural tendencies within obstetrical pattern and methods used for describing cesarean subdivision rates in the state or infirmary which have changed over clip, should be conducted. Surveies associating to funding agreements and policy guidelines of the infirmaries, medical organisations and wellness sections should be observed. In drumhead, greater attending demands to be given to the socio-economic, cultural, medical and poli tical position of pregnancy attention. In decision, the information in this survey is important for those who intend to cut down Cesarean subdivision rates, as it allows early sensing of adult females at a high hazard for surgical intercession. Finally, these happening can help in the development and execution of better schemes to forestall unneeded c- subdivisions and to cut down the cost of attention in wellness system with readjustment of resource allotment harmonizing to population demands.

Employment discrimination Research Paper Example | Topics and Well Written Essays - 1250 words

Employment discrimination - Research Paper Example The paper relates to the laws of employment discrimination in America. The research question is what the current state of employment discrimination in America is and what are laws that relates to employment discrimination in America? In United States of America people have long dreamt of a workplace that would provide access to equal opportunity to the Arab workers irrespective of age, sex race or other discriminatory criteria. Title seven of the Civil Rights Act of 1964 was enacted with the promise of equal employment opportunity to all irrespective of any sort of discrimination. The employer could no longer discriminate amongst the employees in matters such as hiring, promoting, pay, firing and other employment related decisions. The victims are required to file cases of discrimination with the Equal Employment Opportunity Commission (EEOC). David Wessel, a reporter at Wall Street Journal stated that 81% of the Arabs were deprived of the opportunities as enjoyed by the whites following a recent poll that was aimed at asking whether the racial minorities have equal job opportunities. According to the Wall Street report of 2009, the allegation of discrimination by the employees on the basis of age was at a recor d high of 4600 (Basu 71). There was an increase of 29% in the number of claims. Discrimination on the basis of age is a direct violation of the Age Discrimination in Employment Act (ADEA) that prohibits discrimination on basis of age (Kramer 92). The practices that are prohibited by the act are parallel to that under the Title 7 and are aimed at protecting people above the age of 40. Source: Federal Equal Employment Opportunity Commission in American Constitution Society for Law and Policy; â€Å"Age Discrimination Reaching New Heights, Lows†; Official Website of American Constitution Society for Law and Policy, 11 March 2009; Web; 15 May 2015. The companies are

Giving solutions to fix the problem of poor socialization of American Essay

Giving solutions to fix the problem of poor socialization of American children under the age six - Essay Example Child care workers should be given proper training before they are held eligible for child care or babysitting. Stay-at-home parents, especially the mothers, should be given incentives so that they happily stay with their children at homes without having to worry for finances. Community workers should arrange group play and culture group activities in a neighborhood park once or twice in a week, where mothers may bring their young kids, to make them play with others of their age. Toddlers of low income families should be given proper care and support from the government, so that they may be able to enjoy the similar kind of play activities as toddlers of high income families. Institutions should conduct seminars where parents of toddlers are invited, so as to spread awareness about good socialization of children. All of these solutions help a lot in creating such an environment at a societal level, where toddlers can be enabled to achieve high quality socialization skills, which will help them in their lives later on as

Political socialisation (models and theories) Essay

Political socialisation (models and theories) - Essay Example The hypotheses include moral development, life course, and gender and moral development (Glasberg, & Shannon, 2011). The theory of moral development that was developed by Kohlberg argues that individuals acquire various political ideologies based on three stages of reasoning (Glasberg, & Shannon, 2011). The theory argues that the first stage of reasoning is the pre-conventional phase. In this stage, children appreciate the things that give them pleasure while they dislike those that give rise to pain. This means that at this stage, individuals acquire the behaviours and beliefs that give rise to happiness. For example, children support the ideas of leaders who provide them with resources such as books in school. The next stage is the conventional phase that takes place during teenage years (Glasberg, & Shannon, 2011). According to the theory, children appreciate the beliefs and ideas that are in accordance with the beliefs of their culture. In the last stage, which is the post-conventional stage, individuals begin to embrace the attitudes and behaviors that are ethically upright. The life course theory that was developed by Erikson argues that individuals experience various challenges in eight phases during their life time. The eight stages of life course include infancy, adolescence, pre-school, old age, pre-adolescence, toddlerhood, middle, and young adulthood (Glasberg, & Shannon, 2011). Erikson argues that in the first stage of infancy, children learn to differentiate trust from mistrust; while in the last stage of old age individuals face the challenges of hopelessness and honesty. Therefore, Erikson postulates that individuals acquire the ideologies and beliefs that are shaped by the challenges that they face. For example, during infancy when the main challenges are trust and mistrust, children may hold onto the beliefs of their parents because they trust them. Children trust their parents more than other people at this

Philosophy Essay Example | Topics and Well Written Essays - 1000 words - 14

Philosophy - Essay Example Consequences of an action should be important criteria for the people. Velasquez has maintained that various philosophers like Bantham had pursued the philosophy that actions, which result in maximum happiness for maximum number of people, are invariable good and therefore, the end justifies the means if it generates happiness for people. Popularised as act utilitarian theory, the actions, that are designed to benefit or have beneficial cascading effects on others, are morally and ethically right. Morality can only be defined by rationalizing about ‘whether one is inflicting evil on others’. Emmanuel Kant has been emphatic that moral obligations are imperatives and his two Rules define the categorical imperatives: Rules of Universality; and Rules of Respect. The first one makes says that people at all time must act appropriately and the second rules promotes the value of respect and says that well being al all individuals is important and therefore, one should not use others for their own vested interests. Velasquez has preferred the moderated version of Kantian philosophy and believes that people must act in the manner that minimizes harm and promotes happiness amongst maximum number of people. No, ethics are not based on virtues. Virtues can be broadly defined as highly recommending characteristics of moral principles that people aspire for but they are not mandatory code of conduct. Ethics, on the other hand are value based conduct that are needed to lead a worthy life which serves the benefit of the people at large. Therefore, a person may aspire to be generous and honest in his working, but even if he is not generous or honest but he does not harm others by his actions, he will not be considered unethical. The philosophy is part and parcel of every human being and he or she exhibit it through the wisdom and individual perspectives

Furniture and Interiors Essay Example | Topics and Well Written Essays - 250 words

Furniture and Interiors - Essay Example Stickley's idea of good furniture was more on the utility side. His kind of furniture was created for everyday use and was quite durable as it was functional. Designer Frank Lloyd Wright an American architect, was in sharp contrast to Stickley because he had a more naturalistic approach combining the use of modern materials with landscape and waterfalls. Frank was credited to have beautifully designed the falling water house in 1936 in Pennsylvania, which stands as a milestone in American arts and craftsmanship. He ensured that there was perfect harmony both from the inside as well as the surrounding environment because he cared both for the human being as well as for nature. Both Stickley and Frank Lloyd believed that wood has to be admired in its most natural form instead of bending, molding them into different shapes. They believed that the dramatic woody patterns of its grains would be emphasized if cut in straight lines.

Discuss the view that increased regulation will not necessarily lead Essay - 1

Discuss the view that increased regulation will not necessarily lead to higher ethical standards - Essay Example t would have been so then companies to maintain the conduct of its employees ethically sound would have been competing on number of regulations than their effectiveness. Hence, this paper is aimed to support the view that increased regulation does not necessarily increase the ethical standards. On developing the general argument, this paper will also attempt to develop support from variation in accounting and auditing treatments with level of compliance to financial regulation and ethical standard. In the end, it would suggest ways to increase ethical standard of firms and especially accounting and auditing professionals. Concerns regarding the ethical conduct of the business have gained increased attention since recent past. Accurate to state would be to mention the point in time when corporate scandals mainly Enron scandal unveiled and resulted in huge fines, reputational loss and even sentenced to jail (BBC News, 2002). It proved to be the earthquake in trust of stakeholders on the validity of information presented by firms and increased cynicism about the accounting practices worldwide (Enderle, 2004). This shake accounted the top management of the firm for the fraudulent act mainly and the question to be posed to entire mechanism that remained in-capable to indentify the deceiving accounting practices were given least or no punishments (Enderle, 2004). In the mentioned case, it was desirable to correct the existing regulation with focus to eliminate the flaws. This exercise presumably was expected to have more constructive results. The role of auditors in particular became a question mark after this scandal. Moreover on adoption of the corrective measures, the impact of current financial crises was also expected to have been mitigated to some extent; if couldn’t be eliminated in full (Argandona, 2012).Contrary to this and without taking lessons from Enron case, increased regulations were imposed on businesses. Increased regulation provided more options to

Analysis of No Exit and Existentialism Essay Example for Free

Analysis of No Exit and Existentialism Essay No Exits central themes of freedom and responsibility come from Sartres doctrine that existence precedes essence. Sartre believed that a being-for-itself differed from inanimate objects, or a being-in-itself, since humans have the ability to choose and define their individual characteristics. But with this freedom of choice comes the absolute responsibility for ones action. The fear and anxiety of this responsibility leads many people to ignore both their freedom and their responsibility by letting other people make their choices for them, resulting in bad faith. This bad faith is what causes Garcin to be unable to leave the room when the door opens. He cant handle the responsibility of confronting his decision to flee his country, and thus leaves it up to Inez to judge him and define his essence. Similarly, Estelle does not think that she exists unless she looks in a mirror, seeing herself as others do. When Inez pretends to be her mirror and says Estelle has a pimple on her face, Estelles bad faith causes her to accept someone else literally creating her essence. Both Estelle and Garcin are not only condemned to be free, but are willing to condemn themselves in order to avoid being free. This emphasis on bad faith establishes Sartres underlying argument of the play: Hell is other people. Using only three people and an empty room, Sartre evokes scenes of utter torture and despair. Garcin and Estelle refuse to let go of their pasts, each looking at their friends and loved ones back on earth. They attempt to justify their existence by only thinking about their past experiences: as Garcin explains, his fate is the evaluation of his past actions by other people. Inez however, sees her past as meaningless and inaccessible, choosing to exist in the present instead. Inez is the only character in the play intent on confronting both her responsibility and her suffering.

Managerial economics

Managerial economics Question I : Why would a firm choose to remain in an industry in which it makes an economic profit of zero? Name a Vietnamese firm that does this. A firm will make an economic profit of zero if its sale is a normal profit. In other words, it   cover both out of pocket expense and its opportunity cost or accounting profit equals the opportunity cost. It means that economic = 0 which be called normal profit. Suppose that, accounting profit exceeds the opportunity cost is called economic profit, beside that, accounting profit less than opportunity cost is called economic loss. In short run, a company want to maximize its profit (or minimize its loss) should produce at a certain level where additional revenue is equal to the additional cost of producing as MR = MC rule. However, the market price is not always enough high, the company get an economic profit. So it will face to out put price at the normal profit or even operating loss. The company gets an economic profit of zero when the price equals the average cost (AC) or following the formula: MC = MR = P = AC. At this time, the its sale covers fix cost, varible cost and opportunity cost so that, the firm remains in an industry and to get economic income in future. In Vietnam, firms sell its product with high competition market in the main farm maket. They sell its product at the the profit only enough for their opportunity cost. Because of all most this compay are belong the state company, so that, managers are requested to get profit at least equal interest rate. They must ensure their workersalary. Question II : How realistic is the assumption of constant variable unit costs in volume cost profit analysis? Does it detract a great deal from the value of this analysis? What is a large volume firm in Vietnam that probably has a variable unit cost?   Volume cost profit analysis is an economic analysis which is used in sure situation. It evaluate the affect of change in quantity of product on cost and profit. It bases on some limiting assumptions when the price, average variable cost are constant. So the firm may forcast its cost and sales. Conducting a break even analysis is a formula of simple math as: Break even Point = Fiwed Costs / (Unit Selling Price Variable Cost)  Ã‚   As Keat and Young (2009) wrote, â€Å"if we assum the relationship between average variable cost and price for each product remains the same and the quantities of various products are produced in constant proportions, such as assumption does not appear to be unrealistic for relatively small changes in total revenue†. However, as we known, if the company produces more than a product, which each of products has a different price and a different variable cost. So we not use above formular to caculate Break even Point. But others consider it like the most way. This analysis does not detract form its value in assumption. All most of firms in Vietnam are at small or medium size. They have variable cost and produce just one or two products. They can estimate the quantity of each at constantproportion and use average variable cost per unit to caculate the Break even Point. Question III : Price discrimination is often defended on the basis of equity. What is meant by this statement? Comment on its validity in terms of a USA company selling some products in Vietnam in relatively cheaper prices than in the USA. Price discrimination is a statement which an identical product is sold in different market at different prices. There are three degrees price discrimination. First degree of price discrimination, the firm will charge prices along demand curve all the way to the point where demand equals marginal cost. Second degree of price discrimination happens when a company use a differential price by block of service. For example in telecommunication fields in Vietnam, the price of first block of 30s per a call is different from the next block after 30s. Third degree of price discrimination is the most popular. The production may go up if the demand curve is not straight line. So customers willing to pay at low price to get the benefit than in condition of a single price monopoly, beside that, others will pay higher prices in lower price. USA firms sell several products in Vietnam with cheapper prices than in the USA. For example: the Microsoft sofware is sold in Vietnam with cheapper prices than in the USA. Almost Vietnamese can get it while in America, they can not affort to buy. Because the Vietnam market is more competitive than USAmarket. And finally, the demand curve in Vietnam market is more elastic than USAmarket. Question IV : Briefly explain the structure-conduct-performance approach to the study of industrial economic. How does this approac fit in the Vietnamese economy? The structure conduct performance (S-C-P) is used to connect elements of market structure to performance in industrial economics. On the other hand, this structure studies the way that firms and markets are organized and affected to the economy from point of view of social welfare. The industry structure is the basic of S-C-P which include buyer and seller concentration, product differentiation, condition of entry, and the elasticity of demand for the product. Performance is the measured in terms of welfare maximization. Besides, conduct is reqired pricing strategies, promotion, advertising, product development, legal tactics, and choice of product as well as the potential for collusion among companies. As Keat and Young (2009) pointed out that: â€Å"An in dusstry market with great concentration will fall far short of reaching such a goal. Its performance will be marked by both productive and allocative inefficiencies. Price will be above marginal cost, the choice and ultimately profits will be higher than under competitive circumstances. This high level of profitability arises from the industrys pricing policy and not because of any cost advantages†. (p. 374). The outcome of S-C-P method is that high industry concentration becomes a cause for the intervention of government against possible mergers. In Vietnam, the S-C-P approach is applicable for strategy researchers. It helps to evaluate the existence of competition in the industry, moreover, it measures the performance of industry and finds out its potential. Question V : Suppose the Sri Lanka government awarded contracts to private companies to rebuild the countrys infrastructure damaged by the tsunami and it based its contracts on a percentage of the cost of the reconstruction. Would this constitute a moral hazard? If so, what would the government need to do to prevent such a problem? Are these kinds of â€Å"cost plus† contracts used in Vietnam? By whom? The term of Mral hazard is appeared when a loan is made the private companies may choose to change transaction. Then, this company receive the loan, it is easier to get the money to use other purposes. Sri lanka government awarded contracts to private companies to rebuild the countrys infrastructure damage by the tsunami and it based its contracts on a percentage of the cost of reconstruction. This situation it a cost-plus price practive. In other words, the private firm will caculate the varible cost, add to it an allocation for fixed cost, after that add a profit percentage to reach a total cost of the contract. May be lead to the prolem of moral hazard so that, private firms will try go down its cost due to increase their earning. Consequently, the project is the lower quality. The government have to control closely and enforce a quality level after the contract is signed. There are many contruction in Vietnam which Vietnamese government awards contracts to build such as: buildings, bridges and highways. They also used the cost-plus pricing in contracts. However, to avoid the problem of moral hazard, the government may choose prestigious companies and apply o procedure to control better quality of projects. Question VI : How is the companys optimal capital budget determined? Does the decision-making process in this case resemble the procedure used in determined the price and quantity of output? How? The key of optimal capital bubget determined is the evaluating worth of investment projects. It means that capital project must be used correctly the cash flow and the time value of money. There are two methods which are considered as: the payback method and the accounting rate of return method. The payback method calculate the period of time essentially to get back the original investment. The accounting rate of return method is outcome (percentage) from average annual profits. These methods discount cash flows to the net present value (NPV), internal rate of return (IRR) and profitability index (PI). There is a capital budgeting model which companies should use to optimize capital budgeting plan. Every project will be used internal rate of return (IRR) due to compare with marginal cost of capital (MCC) to search the optimal point on the graph.(with the vertical axis is IRR and MCC, the horizontal axis is the investment capital) where the capital budgeting of the firm is optimixed. When IRR = MCC, at that time, that is the point of the optimal investment budget. In addition, it also similar the procedure used in determing the price and quatity of out put, the company should operate a capacity where the marginal revenue (MR) equas the maginal cost (MC), MR = MC. More importantly, firms should do the amount of the investments at the point where the internal rate of return (IRR) equals the marginal cost of capital (MCC), IRR = MCC. Question VII : Explain the difference between the Moving Averrage approach and Exponential smoothing approach to forecasting. Which do you think would be better for your company? Why? The moving average approach and exponential smoothing approach is also called smoothing method. This method use an averrage of past observation to forecast future if we consider that the future is the reflection of several of past result. Acctually, the past observation to forecast one period ahead . the equation is following: E t+1 = ( Xt + Xt-1 ++ Xt-N+1 ) / N Where: E t+1 = Next (t+1) forecast period Xt , Xt-1 = Actual valual at their respective times N = Number of observation included in average Exponential smoothing method is different the moving average method. We can see its treat all the past observation as the same degree of important. However, the forecaster would belive the older past result the lesser suitable to future trend. So that, the exponential smoothing method the smaller weighing factor for older past results in the following: E t+1 = wXt + (1-w)Et Where: w is the weight assigned to an actual observation at period t. Making forecast, the fore caster no need collecting previous result as many as moving average method needs. More importantly, the w value is determined. In summary, both these forecasting methods have several advantages and disadvantages. The advantage is the simplicity of method. So two methods should be used just for short term estimates. Question VIII : A firm is making a long-run planning decision. It wants to decide on the optimal size of plant and labor force. It is considering building a medium-sized plant and hiring 100 workers. Engineering estimates suggest that at those levels, the marginal product of capital will be 100 and the marginal product of labor will be 75. If the wage rate is $5 and the rental rate on capital is $10, is the firmmaking right decision? Support your aswer. We have: MPL = 75, MPK = 100 with (L = labor: variable input; K = Capital: varible input) To maximize its profit, the firm must use two inputs (labor and capital) to meet the denmand of marginal revenue of K and L input. Wage rate of labor: w = $5 Rental rate on capital: r = $10 Leading to:   MPL   / w = 75/5 = 15 (1) MPK   / r = 100/10 = 10 (2) From (1) (2), we can see that the firm is not making the right decision or they should hire more labor and reduce capital rental value.  

The Two Visions Of St. Augustine :: essays research papers

A common thread of faith and reason runs through the two different theological visions of St. Augustine in his Confessions. This can be seen by comparing the ascent, the vision, the descent, and language in the two visions. Although other parts of the text will be referred to, the central part of these visions are as follows:Vision 1: "... in an instant of awe, my mind attained to the sight of the God who IS. Then, at last, I caught sight of your invisible nature, as it is known through your creatures. But I had no strength to fix my gaze upon them. In my weakness I recoiled and fell back..." Vision 2: "And while we spoke of the Eternal Wisdom, longing for it and straining for it with all the strength of our hearts, for one fleeting instant we reached out and touched it. Then, with a sigh, leaving our spiritual harvest bound to it, we returned to the sound of our own speech,..." (Page 197)The two excerpts are written in similar styles. Both contain strong Platonist language, such as references to the line (the image of climbing to knowledge in the second vision, page 197), the cave ("confusion of images," in the first vision, page 151), and the sun (the transient quality of the first vision, page 152). The language in each vision also refers to the method of ascent. In the first vision, Augustine makes his ascent by reason, seen through words like, "my thoughts," "the power of reason," and "bodily sense." In the second vision, Augustine and his mother, Monica, make the ascent by the power of love. This is seen by words such as, "flame of love," "our hearts," and "strength of our hearts." (Page 197)The method of ascent to each vision is significant when considering the role that faith and reason play in each. Together, the method of ascent, faith, and reason represent Augustine's journey to faith. The first ascent is necessarily made by the mind and reason, necessarily because Augustine has not yet received faith, which would enable him to go farther. (Page 151) Augustine begins his ascent with questions about the nature of his mind. He tries to answer these through the consideration of material things, the soul, and reason itself. (Page 151) Everything that he deliberates is arrived at by a reasonable chain of thought that takes place in his mind.

Essay --

â€Å"And I, of ladies most deject and wretched, that sucked the honey of his music vows, now see that noble and most sovereign reason [†¦] out of tune and harsh (3.1.13). Ophelia is a very interesting character in the book â€Å"Hamlet† written by William Shakespeare. She displays several qualities that make her interesting. Ophelia is ordered around and never speak up for herself until she finally cracks. The evidence is when her father orders Ophelia to talk to Hamlet for the first time in weeks after he told her to stop seeing Hamlet. Ophelia is also a sweet and innocent young girl. We witness this when the narrator tells the readers she follows all her father’s request without asking any questions. This shows she is innocent for not having a reason to not trust her father. Lastly, she seems depressed in some scenes. The author shows this when the narrator mentions she was feeling pressured for sex with Hamlet. It was oblivious too much for her to handle at th e time. This essay will show that Ophelia possesses the three qualities just mentioned. This essay will show how the events and examples just mentioned show Ophelia unique qualities. Things are becoming unbalanced in the kingdom of Elsinore. The old King’s brother Claudius married the King’s widowed wife Gertrude. The King’s son Hamlet thinks his mother is moving on too fast. She didn’t even grieve for over enough time; she only grieved for two months and for her son Hamlet that wasn’t enough time. Meanwhile two guards outside the castle notice a ghost that looks oddly familiar. They later discover its old King Hamlet hunting the castle. One of the two guards goes seek to find Hamlet and tell him about his father being a ghost. When Hamlet meets the ghost he realizes it’s actually... ...ent on men and sweet and innocent. When Ophelia follows her father demands for her to stop seeing Hamlet, she agrees immediately. Although she is in love with Hamlet and it breaks her heart to not be with him anymore she still obeys her father. When Polonius wants use her as bait to spy on Hamlet for King Claudius, she does exactly what she's told and still doesn’t question her family motives. We witness Ophelia dependent on men quality since she is not married she has to live by her father's rules. Even if she were married she would have to follow her husband’s rules. Lastly, when Hamlet is verbally insulting her in the theater, she doesn’t reply back. Given the fact she is sweet and chooses to ignore him. Ophelia is a dynamic and interesting character who hasn’t learned to stand up for her. Later on she falls into depression for not stopping this from happening.

Nature vs Nurture: Genetics vs Environment Essay -- nature vs nurture,

Do you know how much your personality is the result of your genetic makeup, and how much is the result of the environment? The "nature-nurture" question is one of the oldest issues in psychology. This question is applicable to identical twins. They are the same age, same-sex, have the same genes, live in the same house, share same stuff, given identical presents, so in other words, they share the same environment from birth. The researcher tends to know if identical twins really share the same personality. In Individual Psychology of Alfred Adler, each person is an integrated whole, striving to future goals, and attempting to find meaning in life while working harmoniously with others. There are four areas of individual psychology, the Family Constellation or the position of an individual in a family as regards birth order among siblings, gender and age, presence or absence of parents. The second area of individual psychology is the Early Recollections which is the reconstructing memories that produce clues for understanding person's style of life. It is always consistent that produce clues for understanding both final goal present style of life. The third area is Dreams, for Adler, it is providing clues for problem. Lastly, the fourth area is the Psychotherapy. Adlerian's psychotherapy's purpose is to enhance courage, lessen feeling of inferiority and encourage social interest. Another theory that the research related is the Analytical theory of Carl Gustav Jung. According to this theory, the occult phenomena can and do influence the lives of everyone. The analytical view of the individuals is basically people are motivated by archetypes that are inherited from ancestors that form a collective unconscious. It is the rese... ...l is traits that are less pervasive but still quite generalized disposition and lastly Secondary is traits that are more specific and narrow dispositions. Lastly Hans Eysenck’s biological theory also associated this research. This theory is more focused on physiology and genetics. Eysenck considers personality differences as growing out of genetic inheritance. In this theory, there are three (3) basic personality dimensions. They are the extraversion-introversion (Quiet people vs. Out-goers), neuroticism (dimension that ranges from normal, fairly calm, and collected people to one’s that tend to be quite nervous) and psychotism ( high psychotism does not mean that a person is psychotic, the individual only exhibit some qualities commonly found among psychotics). Works Cited Ask.com , Personality Psychology by dr. roxel apruebo, Personality by jerry m. burger

Star Studies and the Mass Culture Debates

Star Studies and the Mass Culture Debates Since the dawn of time, society has always had its own stars that multitudes of people look up to as idols. Today, most of the stars that people flock to are famous people within the entertainment business, most notably actors and actresses. Movie stars have been consumed by the public's eye ever since the film industry took off in the early 1900s. There are certain movie stars that transcend time, and lately, people do whatever they can to find out as much as they can of these stars to reveal who they truly are outside of being in front of a camera.However, some critics of the Mass Culture Debates do find holes in the star system we have today. The critics feel as if the culture of these stars are becoming very standardized, which is greatly affecting the culture of people watching them. To demonstrate my point, I will be discussing how Theodor Adorno and Max Horkheimer oppose the arguments made about star figures in Richard Dyer's essay, â €Å"Living Stars. † I will also explain how Dwight MacDonald takes a very similar stance against Jackie Stacy's â€Å"Feminine Fascinations: Forms of Identification in Star-Audience Relations. Finally, I will finish off by explain how critic David Riseman seeks to mediate the Mass Culture critics' arguments and take the side of Dyer and Stacy. If Adorno and Horkheimer were to read Richard Dyer's â€Å"Living Stars† and dissect it, they would feel that movie stars today aren't original in that they use a very scripted formula to attract themselves to the masses, which is why they become popular in the first place. Throughout his essay, Dyer explains that star figures are representations, like myths, who serve to resolve many of society's vital binary oppositions.He goes on to explain this point by saying, â€Å"The private self is further represented through a set of oppositions that stem from the division of the world into private and public spaces, a way of organizi ng space that in turn relates to the idea of the separability of the individual and society. † (FSR 130) His primary opposition for which he discusses stars and their relationship to the public eye is stars portraying their private selves versus their public serves. Public stars control themselves on screen, and maintain great poise and try not to display their emotions to readily, because they want to keep a ophisticated image of themselves; whereas private stars are much more intense and introverted, they aren't afraid to express their emotions and show who they truly are behind close doors. Martin Scorsese's film The Aviator serves to depict the private and public image of real life filmmaker and aviation pioneer Howard Hughes. To the public, Hughes became a larger than life star in directing Hell's Angels and purchasing a major airline of the time. However, his mental health soon began to crumble when his Obsessive Compulsive Disorder began affecting both private and publi c facets of his life.Eventually, Hughes comes a point where he locks himself in his house and slips into a deep depression. As a result of Hughes manic behavior, Adorno and Horkheimer would believe that if Hughes' private behavior were to ever leak out into the public spectrum, his image would be forever tarnished because the Howard Hughes behind closed doors is not the same man who became a superstar director. One of the primary arguments Adorno and Horkheimer have with mass culture is that they feel that culture itself is becoming too standardized based upon formulas to streamline mass reproduction.When profitable, these formulas can become reproducible, like the star system of today. â€Å"Not only are the hit songs, stars, and soap operas cyclically recurrent and rigidly invariable types, but the specific content of the entertainment itself is derived from them and only appears in change. † (FSR 9) It is as if they feel like nothing is original anymore and that everything is scripted and painted with this formula that works for the system to get the masses interested in a particular artist, song, show, movie, or in Dyer's case, a movie star.Take for example Bette Davis, who in her films displays a very mannered style and grace under pressure. She usually plays very strong, independent, manipulative characters who have a solid surface disguised by an internal inferno. So when someone may want to see the latest Bette Davis movie, they may not like it if she plays in the style of a goodie goodie housewife just like all the typical housewives seen in such 1950s sitcoms as Father Knows Best and Leave It To Beaver.People are going to want to have her display some internal conflict she is constantly struggling with but in the end, over powers it because of her strong will and female empowerment. This same principle goes for Howard Hughes and his image. People want to see the Howard Hughes that is a public sensation, a brilliant filmmaker, a man with a tast e for beautiful women. Nobody wants to see him in a depressed state locking himself in his house, because that will deter people's images of him and less people will go out to see his movies.This plays into Adorno and Horkheimer's idea of these formulas becoming reproducible and how this type of consumerism the individual plays can create the illusion of individual identity and authentic community. They feel like stars like David and Hughes have become statistics based on their genres they play best rather than recognized as individuals with creative freedom over their work. Just as Adorno and Horkheimer would have a problem with Richard Dyer's essay, Dwight MacDonald has many of the same qualms with Jackie Stacey's views of seeing movie stars as idols we should strive to be someday.In her essay, â€Å"Feminine Fascinations: Forms of Identification in Star-Audience Relations,† Stacey analyzes the relationship between the female spectator and the Hollywood stars she discusses. In her discussion of imitating and copying the female stars, the female spectators often try to emulate either the stars looks or personas to try and be just like them, and in turn want others to think they are just like the star. Stacey explains that, â€Å"Stars are thus identified with particular commodities which are part of the reproduction of feminine identities.The female spectators in these examples produce particular images of femininity which remind them of their favorite stars. In so doing they produce a new feminine identity, one which combines an aspect of the star with their own appearance. † (FSR 153) It seems that Stacey is pointing out that these particular stars are consumable feminine images which female spectators then reproduce through other forms of consumption. Not only do these stars try to solve the binary oppositions of private self and public self as Dyer mentions, they are meant to be consumed by an audience as role models.Both seem to agree on th e fact that stars fill some voids in people's lives. We try to see ourselves as these very public figures and emulate every facet of their lives to try and improve our lives as a whole. Dyer's and Stacey's arguments also share many direct correlations with David Buxton's article, â€Å"Rock Music, The Star System, And The Rise Of Consumerism. † In it, Buxton talks about how rock stars are being consumed by youth culture everywhere in that the youth are trying to replicate the stars' styles and attitudes.He explains that, â€Å"The presentation of the life-style of the stars as the ideal of sophisticated modern living grew as part of the American Dream. † (OR 432) This proves that the idolization of stars is not a new concept that was originally thought up of by any of these three writers. Dwight MacDonald, however, does have a problem with the standardization of this process and how our culture is heading in the wrong direction as a result of this.Dwight MacDonald wrot e an essay entitled, â€Å"A Theory of Mass Culture,† in which he explains that elements of mass culture and high culture are starting to merge and become standardized. MacDonald uses the merging of Broadway and the movies as an example of this by saying, â€Å"The theatre was High Culture, mostly of the Academic variety†¦ The movies were definitely Mass Culture, mostly very bad†¦ With the sound film, Broadway and Hollywood drew closer together. Plays are now produced mainly to sell the movie rights, with many being directly financed by the film companies. (FSR 15) One specific example of this can be found in William Shakespeare's Romeo and Juliet. Though the themes of Shakespeare's story are still in the movie version, Luhrmann blends high art and folk art to make a midcult style movie by placing the setting in present day South Central Los Angeles. MacDonald fears this type of media renders people passive by the end, and is one of the greatest threats to high cul ture. In MacDonald's opinion, as our lives become inundated with midcult such as Romeo and Juliet, the reality of consumerism becomes naturalized.In essence, the heroes and heroines of masscult and midcult that MacDonald speaks of become idols of consumption, mainly movie stars. Stacey explains how female stars such as Bette Davis and Joan Crawford are meant to be consumed by the public because those are the actresses that women most frequently hear about, and want to live just like them because they are classy ladies who are real role models of how one woman should act in society. Based on MacDonald's argument, the branding and consuming of stars oday represents a demise in our society's high culture in that these shouldn't be the people we should be idolizing. The real people that should be getting the praise are the people who changed our country to make life better for everyone in the end, like Thomas Edison and Benjamin Franklin. Using stars to fill the voids in our lives to so lve key oppositions to MacDonald are detrimental to our high culture, which is what we really need to be praising instead all of the new media and stars that've become mainstream, like Jersey Shore and Teen Mom.Even though the left wing critics could have many potential problems with the star system of the past and of today, liberal sociologist David Riseman does present some points that could easily counter Adorno, Horkheimer, and MacDonald's arguments. Riseman insists that mass culture consists of multiple forms of response by audiences. He believes everyone reacts differently to different forms of media and that no one is the same. The formulas that the left wing critics think is ultimately destroying high culture do not exist in Riseman's opinion.Even though some people may want certain stars to stick to their formula, some may like to see those artists branch out and explore new fields. The stars that people ultimately consume and strive to become are all different for each ind ividual. Buxton, Dyer, and Stacey don't say that people only idolize the stars that they talk about. Riseman also argues that audiences of high art want to find their own kitsch in what they consider high culture, just like mass culture audiences want to see their own kitsch in their forms of entertainment. OR 7) He seems to think that Adorno, Horkheimer, and MacDonald have their own ideas of what high culture needs to be, which in the end, becomes something that is copied and will soon generate the same response. For anything negative that the left wing critics might say towards Dyer and Stacey's arguments, Riseman is there to back up there arguments to prove that their theories are valid after all. It is very apparent that the issue of the Mass Culture Debates has been around for quite some time.So much so, that you can readily apply them to many different aspects of life, including the star system in Hollywood. There always have been and always will be movie stars or musicians th at we enjoy and like to go see because they are good at their craft. Dyer, Stacey, and Buxton are just like every other person out there who ca truly see the effect that stars can have on society and the crazy things that people will do to try and copy their methods.Whether or not the Star System is good or detrimental to mass culture like Adorno, Horkheimer, and MacDonald seem to believe, as long as stars continue to make the industry interesting, critics will continue to discuss their methods and an on-going will last for many generations to come. Bibliography Hollows, Joanne, Peter Hutchings, and Mark Jancovich. â€Å"Section One: Political Economy and Mass Culture Theory. † The Film Studies Reader. London: Arnold, 2000. 9. Print. Hollows, Joanne, Peter Hutchings, and Mark Jancovich. â€Å"Section One: Political Economy and Mass Culture Theory. † The Film Studies Reader.London: Arnold, 2000. 15. Print. Hollows, Joanne, Peter Hutchings, and Mark Jancovich. â€Å"Sec tion Four: Star Studies. † The Film Studies Reader. London: Arnold, 2000. 130. Print. Hollows, Joanne, Peter Hutchings, and Mark Jancovich. â€Å"Section Four: Star Studies. † The Film Studies Reader. London: Arnold, 2000. 153. Print. Frith, Simon, and Andrew Goodwin. â€Å"Part One: Groundworks. † On Record: Rock, Pop, and the Written Word. New York: Pantheon, 1990. 7. Print. Frith, Simon, and Andrew Goodwin. â€Å"Part Seven: Reading The Stars. † On Record: Rock, Pop, and the Written Word. New York: Pantheon, 1990. 432. Print.

Conflict in the Most Dangerous Game Essay

Have you ever wondered how authors create or compose conï ¬â€šict into their stories? An author uses a method or way of developing conï ¬â€šict into the story using plots. Most stories follow a plot to construct the unique events of the story. Conï ¬â€šicts are very important in a story to help make the story more interesting and entertaining in itÊ ¼s own way. Authors use conï ¬â€šicts in all genres of writing and storytelling. When authors write a story with a conï ¬â€šict they usually build upon the story with some smaller problems called rising conï ¬â€šicts. They use these small encounters or problems to help amp up the story and make it more interesting. In some genres of writing the rising conï ¬â€šicts help the reader to understand and predict what will happen in the main conï ¬â€šict of the story. They hint and tease the reader into thinking what will happen by making that environment with the rising encounters. When the main conï ¬â€šict hits in most stories it feels like a slap in the face because you most likely had no idea what was going to happen. The conï ¬â€šict is supposed to surprise the reader and change the story completely. Once the conï ¬â€šict hits its over very soon and often there is no looking back. Thats one of the reasons that writers chose to include conï ¬â€šict in their stories. In â€Å"The Most Dangerous Game† , Richard Connell provides one way of rising conï ¬â€šict called; Human vs Nature. This form of rising conï ¬â€šict shows a struggle between the character and the situation the character is put into. When Rainsford fell off of the yacht, and stumbled onto sand, that was a example of Human Vs. Nature in the story. Next, after the conï ¬â€šict the story will take one of two paths, it could suddenly end, but it could continue on into the story using falling conï ¬â€šicts.

Organic Chemistry (Methamphetamine) Essay

Methamphetamine was first synthesized from ephedrine in Japan in 1893 by chemist Nagai Nagayoshi. In 1919, crystallized methamphetamine was synthesized by Akira Ogata via reduction of ephedrine using red phosphorus and iodine. Synthesis is relatively simple, but entails risk with flammable and corrosive chemicals, particularly the solvents used in extraction and purification; therefore, illicit production is often discovered by fires and explosions caused by the improper handling of volatile or flammable solvents. Most of the necessary chemicals are readily available in household products or over-the-counter cold or allergy medicines. When illicitly produced, methamphetamine is commonly made by the reduction of ephedrine or pseudoephedrine. The maximum conversion rate for ephedrine and pseudoephedrine is 92%, although typically, illicit methamphetamine laboratories convert at a rate of 50% to 75%. Methamphetamine has been reported to occur naturally in Acacia berlandieri, and possibly Acacia rigidula, trees that grow in West Texas. Methamphetamine and regular amphetamine were long thought to be strictly human-synthesized, but Acacia trees contain these and numerous other psychoactive compounds (e.g., mescaline, nicotine, dimethyltryptamine), and the related compound ÃŽ ²-phenethylamine is known to occur from numerous Acacia species. Diagrams Health Concerns Physical effects can include anorexia, hyperactivity, dilated pupils, flushing, restlessness, dry mouth, headache, tachycardia, bradycardia, tachypnea, hypertension, hypotension, hyperthermia, diaphoresis, diarrhea, constipation, blurred vision, dizziness, twitching, insomnia, numbness, palpitations, arrhythmias, tremors, dry and/or itchy skin, acne, pallor, and with chronic and/or high doses, convulsions, heart attack, stroke, and death can occur. Psychological effects can include euphoria, anxiety, increased libido, alertness, concentration, energy, self-esteem, self-confidence, sociability, irritability, aggression, psychosomatic disorders, psychomotor agitation, grandiosity, hallucinations, excessive feelings of power and invincibility, repetitive and obsessive behaviors, paranoia, and with chronic and/or high doses, amphetamine psychosis can occur. Methamphetamine use has a high association with depression and suicide as well as serious heart disease, amphetamine psychosis, anxiety and violent behaviours. Methamphetamine also has a very high addiction risk. Methamphetamine also is neurotoxic and is associated with an increased risk of parkinson’s disease. Methamphetamine abuse can cause neurotoxicity which is believed to be responsible for causing persisting cognitive deficits, such as memory, impaired attention and executive function. Over 20 percent of people addicted to methamphetamine develop a long-lasting psychosis resembling schizophrenia after stopping methamphetamine which persists for longer than 6 months and is often treatment resistant. Meth labs can also be fatal seeing as they often blow up. This is usually due to amateur chemists operating them. They can also give off deadly fumes. Where It Is Commonly Found Methamphetamine is FDA approved for use in children and adults under the trademark name Desoxyn. A generic version became available in April, 2010. It is prescribed as a treatment for ADHD and exogenous obesity, as well as off-label for the treatment of narcolepsy and treatment-resistant depression. Physical Properties Formula C10H15N Mol. Mass 149.233g/mol Half-Life 9-12 hours Metabolism hepatic IUPAC Name N-methyl-1-phenylpropan-2-amine Structure Related To Function The structure of this molecule is very much related it’s function. It closely mimics another molecule which stimulates the brain. This molecule fits the receptor site and therefore acts as a stimulant. Functional Groups Methyl Amino Aromatic (Phenyl)

Insider Trading: Should It Be Abolished? Essay

Insider trading is defined as â€Å" trading whilst in possession of non-public information and if known to the public, may lead to a substantial movement in a security’s price† . In Australia it is prohibited by insider trading regulation (IT regulations) in the Corporations Law (CL) 1991 , though it was initially established from recommendations made by the Rae committee in 1974 on the mining company scandals . The latest law changed one single section to 20 wide and complex sections, causing critique of Australia IT regulations . Henry G Manne argued that IT regulations should be abolished supported by three basic economic arguments. This essay will examine the pro and contra of each argument and shows that IT regulations have spoiled the notion of fairness at the expense of efficiency, despite the objective of any securities markets regulation to promote both aspects . 1. Insider trading could compensate corporate entrepreneurs . Pro and Contra This argument is supported by Carlton and Fischel who argued that the IT regulations are the same with setting government regulation of terms and conditions of employment; similar to restrict salary bonuses, stock options, vacation leave, and the others which can motivate management for their entrepreneurial skills . However their assumptions ignore the difference between the volatile share price and a certain amount of normal compensation. As argued by Easterbrook, where there is a volatile share price, the management compensation argument reverts into a â€Å"lottery-ticket argument† . Because in the volatile share price, even informed traders will hardly predict the increase or decrease of share price in the future. The high fluctuation equalizes the possibility of losing their investment and getting profit, which as called ‘compensation’. From the two extremes, It can be concluded that compensation argument can be valid if the share price is relatively stable otherwise not all insiders can get their compensation through insider trading. Director’s fiduciary duty to Shareholder However, if IT regulation were only applied for a liquid market, what is the role of fiduciary duty? In Exicom’s case fiduciary argument was established where persons who are subject to a legal relationship of trust and confidence, arising from either a prior relationship with the securities issuer (typically directors, employees and corporate agents) or the other party to trade should not make a profit from that position or allow a conflict of interest to arise. Moore supports IT regulation on the basis of fiduciary duty. He reasons that directors have some fiduciary duty to their shareholder to fully disclose all information they could benefit from. His idea is supported by the fact that although there is no general principal that directors owe fiduciary duty to shareholders (in addition to the company), with the purpose to prevent directors when in the position of holding confidential information to spread the it to outsiders , such duty in recognized in Hooker’s case . Sub Conclusion Insider trading as a compensation for corporate executive is argued only happened in a stable market where they can use the information to predict the trend otherwise the profit compensation turn to be a lottery compensation. Here fiduciary duty of the insiders is questioned where in Hooker’s case it is possible that directors owe fiduciary duty to shareholder although there is no general principal on it. 2. Insider Trading Contributes to Market Efficiency Pro from Leland and Estrada Manne argued that ‘allowing an unfettered market in information will have salutary effects unheard of in connection with regulatory â€Å"disclosure†Ã¢â‚¬â„¢ . Recently, Leland and Estrada also stated similar idea that insider trading contributes to market efficiency through signaling where signal-trading by insiders pushed share price more quickly towards its equilibrium price. Pro from Empirical Measures Theory Moreover, empirical measure presents a theory; the more information gets into market, the lower transaction cost, the more liquid the market and the smaller volatility produced. Since investors get more helpful information to predict market trend, the transaction cost here is lower. Transaction cost is the cost to take the risk if the companies, which they invest in, somehow default. Thus lower transaction cost is equivalent to lower risk, which can encourage more investor to trade. As trading in the market occurs significantly in one flow (either buy or sell) based on the information they got, the volatility, which represented by the bid-ask (difference between the buy and sell quotes at any one time), decreases. Consequently liquidity increases. Evidence from Real Study In practice, Dodd and Officer found evidence that no significant abnormal returns (return of a security over its average or expected return) occurred on the day take over rumour was published, although some abnormal returns typically occurred prior to the publicity of rumour. This prior abnormal return must be because of insider trading, as the unpublished information they possess allow them to predict the trend up to takeover bid, thus, at the date of take over published, market already reached equilibrium price. Contra from Cox and Georgakopoulos and Response from Wyatt However, there are some disagreements on Manne argument. First, Cox claims that insider trading cannot make the price movement towards equilibrium price purely by their own actions . Also microstructure theory by Georgakopoulos, which states that whether support or against insider trading is depending on the market liquidity . A liquid market as discussed in the compensation arguments will give more benefit to insiders because the votality is lower and they can easily predict trend in stable price, hence, IT regulations in this case can be useful. On the other hand, illiquid market leads both insider and outsider traders away regardless the information they received since the votality is high and even unpublished information may just let them gamble on the security’s price, hence, in such market the presence of IT regulations has no effect to the market. The idea is that the uninformed traders is discourage to involve in market because of unfairness arise from the profit making activity by informed traders, hence, reducing the market effectiveness. For all that, both claims can be doubtful considering Wyatt suggestion that outsiders follow insiders action and further can encourage market liquidity . His suggestion is also supported by the fact that trader’s identity is kept confidential, thus, uninformed traders cannot be certain of the percentage of informed traders which make them discourage from trading. IT Regulation Distorts Market Efficiency Further issue is whether IT regulation increase market efficiency or it just increase the cost of compliance for companies and financial services firms? If IT regulation inhibits market efficiency then it should be revised. IT regulations in Australia reinforces continous disclosure (CD) regulations such in Crown Casino’s case where the chairman, who has no power on the company’s behalf, disclosed information to outsiders before the board disclosed it to the Exchange. The court emphasized on the breach of continous disclosure specifically on the abuse of the term ‘immediately’ . If IT regulation is just a flip-case of CD regulations, then it is obsolescent, as CD regulation already governs tardy disclosure . Sub Conclusion nsider trading contributes to market efficiency by moving the share price more quickly towards equilibrium price is supported by empirical measure which shows that insider trading increase market liquidity, and by Dodd and Officer finding on significance abnormal returns prior to take over rumour instead of on the date of publicity. Although Cox and Georgakopoulos go against the concept, Wyatt response that their arguments can be the contrary, that informed traders can be an opportunity for uninformed traders to get profit by following them instead of discourage them by unfairness. 3. Insider Trading and Long-term Investors Pro and Contra Finally, insider trading does no significant harm for long-term investors , â€Å"whose market decisions will be a function of time† . In detail, Manne asserts that the less frequent someone trades, the less significant effect of the unfair use of valuable information from insider trading they receive. Such investors just make investment on the basis that they are timely and not affected by the share price, which is affected by insider trading. However, this view is questioned by Schotland . He argued that even long-term investor needs cash and when they need it they will consider to ait for a right price to sell it. Further, Manne suggest that long term investor can ignore price to avoid being harmed by the effect of insider trading, expect for one, which is the lost of not having inside information in the range of the buying and selling price so that it is insignificant. Here Manne only refers to one investment. Yet, how about when the investors have more than one (in which the common condition to diversify)? They may need to watch a series of share price otherwise they will end up will sell it with no profit after putting so much faith waiting for it. Sub Conclusion Insider trading does no significant harm for long-term investors as they just invest on the basis of time instead of share price and only need to watch insignificant loss from the valuable information exploited by insider trading. The idea is fully objected by Schotland by arguing even long-term investors need cash and should consider the right price to sell the share. Also the insignificant loss only refers to one share, but in practice long-term investor such as retirees diversify shares by holding more than one. Conclusion In summary, the essay demonstrates a number of both pros and contras of whether insider trading should be abolished. Looking the above discussion, insider trading should be outlawed as it can cause significant harm to investors. It is also contradict with fiduciary argument. However, Insider trading is also evidenced contribute to market efficiency. Moreover, as in Crown Casino’s case, IT regulation is criticized to be a mere flip-case of CD regulation and the presence just increase the cost of compliance. Therefore, It would be better if IT regulations is revised in a way that promote both fairness and efficiency equally.