Does globalization threaten cultural diversity Essay - 2

Does globalization threaten cultural diversity - Essay Example Indeed, inter-dependency of resources, including economic pressures, labor, cultural competency, market compulsion etc. are important imperatives that give thrust to the process of globalization. People move from one country to another to exploit opportunities for personal and professional growth which has resulted in multicultural societies. Big businesses look for new opportunities across globe to expand their business and revenues. This necessitates understanding of people and their culture so that they can interact with empathy and develop mutual respect for peaceful existence. Thus, globalization helps people become more understanding of other cultures and promotes acculturation to become part of mainstream society of the host country. Julia Galeota’s main argument is that globalization is actually promoting American hegemony and directly and indirectly is responsible for other cultures to lose their identity under the powerful influence of American values. The economic and military power of America has been an important ingredient that has significantly impacted global market and spread American culture across national borders. She claims that globalization has brought in more multinational companies in the developing and under developed countries and popularized their products. McDonald’s burgers and Coca Cola are easily available across the globe and people are increasingly learning English to adapt to American way of life. It contends that technology and media have been vital propellants that have helped America’s monopoly in global environment which has motivated people to adopt American ways, including goods and services, which has threatened the survival of their own unique culture and values. Phillipe Legraine argues more rationally and looks at globalization with greater insight and wider perspective of development. He rightly asserts that when American businesses expand across globe, they localize their products to suit the requirements of people. Thus, MTV in Saudi Arabia and China does not focus on the latest hip hop or rock music of America but adapts itself and showcases local music. They could experiment and mix but primarily they cater to the local demands. In America also, the cultural diversity is emphasized because of the changing socio-economic and political compulsions. The world is changing fast and inter-dependency of resources has become a reality. Cultural diversity not only provides firms and individuals with more leverage to compete but the nations also benefit because of the unique talents that diversity brings with it. Globalization has given a big boost to industrialization and development and created platform for equity and equal opportunit ies in all spheres of life and therefore has promoted the causes of cultural diversity. Answer 3 Julia Galeota’s assertion that globalization has threatened cultural diversity to certain extent supports Samuel Huntington’s view that the dominating source of conflicts would be cultural (Huntington, 1993). Huntington believes that civilization, as highest cultural grouping of people where people gain different identities within the broader precinct of their national identities, can also become main issue of conflict in the modern world. For example, Galeota says that China, Cube and

Dangers and response Essay Example for Free

Dangers and response Essay This sense of differing power in differing scales is reinforced when Rosenberg identifies himself with the wasps situation, sensing his own vulnerabilities as he lives in an alien and gigantic universe. The poetical voice may have absolute power over the wasps; but the poet is only a small part of a gigantic reality; something inherently vulnerable to danger. The poet belays to a reality which he is just as alien to as the wasp is to the mailbox; and the poet , too, has his fragile cradle on the edge of danger. The poet might feel to be the master of his domain- but, as earlier discussed, it is a weakened domain and it is a place where the poet is very vulnerable. The metaphor has this idea of danger inherent as the home is on the edge- almost as If it is on the brink of collapse over a recipe into an unknown abyss of danger. The use of setting and scale creates the message for the reader that mastery of a domicile does not translate into invulnerability. Within this pessimism, however, there is a strand of optimism, almost urging the reader to recognise this reality but to accept it and live within it. The idea that the wasps were not stopped by the sore displeasure of the US Mail is an example. The sore displeasure could both be from the aggravation of the wasps, or, indeed, from the soreness of being stung. There is a sense that the wasps ay know that they are overmatched; indeed, that they can only cause displeasure which seems to suggest only an aggravation is testament to this. Uet the wasps continue; they may understand their vulnerability but they do not surrender. There is from this image a recognition of humanitys situation; that whilst mankind, too, may be fundamentally vulnerable, there is still the basic stubbornness to continue. This strand of hope continues throughout the poem. The wasps may know their vulnerabilities; yet still they are savagely a-hum. The onomatopoeic quality of a-hum gives almost an indifference to this metaphor; the wasps may be overmatched, but they continue their existence. Their strength within their nest is highlighted through the adverb savagely tends to describe powerful violence, which is often equated with strength. The wasps recognise their weakness but continue; they do not bother to attend to the danger that they are in. The sense of indifference and nonchalance of this image that seems more to mortal danger is the final recognition of this hope. Recognise the vulnerabilities, but continue; and the poet identifies within the wasps a human response to the danger. Understand the danger, but do not let it define a life. By the end, the poet has recognised this connection between the reality of the wasps and humans that extends beyond our inherent weaknesses. Thus, The Wasps Nest is a poem that explores the conflict between strength and weakness using the realities, dangers and response of wasps as a microcosm for the human world. It is a poem of contrast and illusion, where apparent strength becomes weakness. But is it also a very human poem. It studies the mirage of strength that we portray around ourselves and sees within this image the fragilities of man. It is a poem of our lives and reality within Rosenbergs words. It is a poem of the human condition that illuminates ourselves and with which Rosenberg shows a profound truth of our existence.

Development Of Geography As An Academic Discipline

Development Of Geography As An Academic Discipline In this essay I will be looking at the development of geography as an academic discipline, and then I will be discussing the role that theory has had in the development of geography. I will research past events and influences, to see how they have affected geography as an idiographic subject and changed the subject into a spatial science and effectively into a core academic discipline. The discipline of geography is among the most ancient of sciences. Geography can be traced back to Eratosthenes, a Greek scholar who lived around 276-196 B.C and who is often called the father of geography. Alexander Von Humboldt was a German geographer from 1769-1859, commonly known as the father of modern geography. As well as Humboldt, Carl Ritter is also considered as one of the founders of modern geography. Both Humboldt and Ritter shared similar views. The naturalist Charles Darwin wrote a book called the Origin of the Species by Means of Natural Selection in 1859. It proved an inspiration to many geographers, who saw in Darwins idea of natural selection the possibility of a general theory of man-land relationshipsà ¢Ã¢â€š ¬Ã‚ ¦ so man needed to adopt modes of living which were consonant with the environment in which he livedà ¢Ã¢â€š ¬Ã‚ ¦ (Graves, 1975) Geography branched out as a new light and the thought process was now in place. Yet Darwin never claimed to be a geographer, with his main concentration being botany. Humboldt and Carl Ritter then co-founded a Geographical Society in Germany in 1874, bringing together Humboldts principle of a systematic approach and Ritters regional approach which were key methods of geography at this time. Regional geography is the study of world regions. It looks at key characteristics and how one place is specific and unique compared to another. Another German geography, Freidrich Ratzel was the first person to use the term Lebensraum, which was used by Adolf Hitler. One of Ratzels students Ellen Semple studied under Ratzel and was heavily influenced by his ideas, publishing Influences of Geographic Environment in 1911. Another one of Ratzels students, Ellsworth Huntington also applied Ratzels theory of regional geography to the reasoning behind the rise and fall of civilisation. Despite being one of the oldest disciplines, in todays society, geography struggles to define itself as an academic subject. Over the past few decades, geography has had to forge its way to stand as a fundamental scientific subject. In the early 19th century, many geography scholars believed that environment had a key role on the living marvels. The theory of Environmental Determinism the view that the physical environment sets limits on human environment was being questioned due to claims of its lack in the intellectual relevance and faults in its descriptions of certain locations. This led on to the theory of environmental possibilism. Possibilism states that the environment does have an effect on society, however it is not deterministic and humans can heavily influence the environment around them. By the 1950s environmental determinism was virtually history and environmental possibilism had now taken over as central theory. The first few steps forward for geography were the opening of the first geographical institutions, such as the establishment of the first institution by Humboldt and Ritter in Germany in 1874, The National Geographic Society in 1888 and also the Royal Geographical Society, founded in 1830 in Britain. The Royal Geographical Society is an institution to encourage the progression of geographical science. The Society also devoted much of its energy to education, and was responsible for both the incorporation of the study of geography in schools at the turn of the 20th century, and for the first university positions in the discipline. (Royal Geographical Society website.) The Society is the largest Geographical Society in Europe and one of the largest in the world. It supports and promotes geographical research, field training, education and teaching. These associations were the grounding for geography to start to grow and develop as the funded key and essential research. They also promot ed geography in schools and universities, leading to the first university lecturer appointed in 1888. In 1919, Geography was the established as a Bachelor of Arts degree, and Cambridge University appointed its first professor in 1933, which was a great step forward for geography being such an influential place of learning. This appointment acted as a catalyst, and after this, many other universities started to follow suit. By the 1930s Britain had 44 University geography departments. However, there was a slump in the early 1940s when geography hit crisis point. Geography departments started to deteriorate as geography as an academic topic struggled to stand as a basic University subject. à ¢Ã¢â€š ¬Ã‚ ¦geography as a subject is frequently misunderstood by the non-geographersà ¢Ã¢â€š ¬Ã‚ ¦ (Graves, 1975) This meant that other discipline professors and educators questioned the importance of geography. During the eighteenth century, geography began to be taught in certain institutions of higher learning, though the substance of what was being taught varied immensely in quality. (Graves, 1975) This was followed by Harvard University abolishing geography as a subject in 1948. Being such an important and significant place of learning, this eradication had an adverse impact on the way geography was viewed. It lost its place as a highly regarded subject, and was starting to be regarded as overly descriptive w ith no relevance to science, the Greeks named it as a description of the earth. It was at this point that questions were raised about the importance of geography and whether it answers the whys? and hows?. At this time, geography had no documented split between the human and physical side. Also, à ¢Ã¢â€š ¬Ã‚ ¦geography in academic institutions straddled the arts and the sciences. This made it hard for geography to have a true factual definition. Society started to wonder whether it sat as a science or a humanity subject. These questions and queries made it increasingly difficult for geography to have a good platform on which to grow. Essentially, the subject needed to be defined, and this would entail more detailed research. With more advanced research, geography started to branch out with the division of both physical and human geography into contemporary geographies. Henderson (1968) the adjectival geography: agriculture geography, urban geography, social geography, settlement geography and so on. These numerous modern geographies started to make it easier to for geography to be defined. At last there were specialised areas that focused on one particular area of geography. Parallel to this trend towards specialization, there developed a tendency to use quantitative techniques of analysis. (Graves, 1975) The importance for technology to develop in society had increased massively by the end of World War II, which meant there was a gap for geography to grow. This gap led to the quantitative revolution, which was one of the major turning points of modern geography. This revolution began in the 1950s, and marked a swift change in the method behind geographical research making geography into a spatial science and shifting from an idiographic subject to an empirical law making one. It made laws that applied to large groups of people and individuals, and established broad generalisations. It was a turning point, and geography started to grasp attention once again. It brought to light new determinism models and mathematical equations to answer hypotheses that could be used in teaching, and helped to define geography, making it able to answer the more logical questions and respond in more depth. Geography could again stand as a strong scientific discipline in schools and universities. The subject started gaining popularity again and Universities began to recognise the value of geographic study and training this provided more classes and degree opportunities. The use of fieldwork started to be used in schools in the 1950s, as a key method of teaching. Fieldwork is an effective teaching method in geography is an interactive fun way for people to learn and experience what they are learning at first hand. It is an important method of learning as fieldwork teaches things that cannot be taught or learned in class. However, disappointingly the focus on fieldwork started to weaken as it à ¢Ã¢â€š ¬Ã‚ ¦ is not promoted in educational institutions because of factors such as time to cover comprehensive curricula, financial constraints, legal issues and commitment by educators. Factors such as these had the effect that the inclusion of fieldwork declined in some schools; however, with the help of funding fieldwork is still a very important and prominent part of teaching geography whenever possible. Geography is unique in that it is not artificial. It is not something that textbook writers had composed for students to study. Geography is alive, and something that is relevant and we use in our daily lives. Fieldwork started to make a real impact in higher education in 1985. It gave people transferrable skills, including Project design, organisational skills, leadership skills, group skills and student participation.(Royal Geographical Society website) This is why fieldwork is vital, it helps pupils understand and picture the subject for them. Fieldwork also put research and findings into practise. In undertaking field work, students are effectively carrying out innovative research over and above what could be achieved in a classroom. The president of the American Geographical Society, Jerome E. Dobson, president of the American Geographical Society argues that geographic tools allow for scientific advancement and therefore geography deserves a place among the fundamental sciences, but more importantly more of a role in education. à ¢Ã¢â€š ¬Ã‚ ¦most academics in the United States considered geography a marginal disciplineà ¢Ã¢â€š ¬Ã‚ ¦ (Jill Freund Thomas) In May 1993, Roger Down worked towards making research in geography education to be an integral part of work. In his own words, The need for research in geography education: it would be nice to have some data. (Downs, 1994b:57). In the UK, The Geography Education Research Collective is à ¢Ã¢â€š ¬Ã‚ ¦dedicated to the promotion of geography education through research and publication. (http://www.geography.org.uk/gtip/gereco/) 13 teachers come together every four years with the resolution of creating research in geography education. It is a UK based association and was first set up in 1893. The field of geography education is sadly lacking in empirical data that might inform and underpin decisions about standard setting, curriculum design, materials development, teaching strategies, and assessment procedures. Large quantities of high-quality data are necessary if geography is to be successfully implemented in the education systemà ¢Ã¢â€š ¬Ã‚ ¦ We need a new attitude towards researchà ¢Ã¢â€š ¬Ã‚ ¦ In conclusion I believe that geography will continue to grow and develop with the discoveries of new modern geographies due to the enormous amount of scientific research that is now able to be undertaken. The development of new technologies has helped geography turn into an academic discipline as it supports research making research easier to carry out, and getting results which are far more precise. In the future technology will continue to advance and thus continue to be included and promoted in school curriculums. à ¢Ã¢â€š ¬Ã‚ ¦the most important change which has occurred is the realization that any progress in understanding phenomena studied by geographers involves the conscious use of scientific methods and the development of a body of theory to explain such phenomena. (Graves, 1975) With advanced technologies, wider geographical research will also be capable and new discoveries will be made. The role of theory in the development of geography in education is very significant as it is the basis of learning and has helped geography thrive over the last couple of centuries. For, if a theory is to be developed, then some understanding of the nature of theory and of the process of theory building was required. (Graves, 1975) Today geography continues to flourish and expand in education. Nowadays, increasing numbers of students chose to study this subject at university, so the trend is set for the popularity and importance of this discipline to continue to go from strength to strength in the future.

Marmon Group :: essays research papers

Accountants at the Marmon Group, Inc. act as internal consultants for the company in many different capacities. Jim Smith, Marmon’s prior director of cost management says that â€Å"the role of the management accountant is changing dramatically in most of our companies.† Managerial accountants are not seen any longer as simply clerks working on monthly reports but as valuable assets to senior management. Management accountants at Marmon work closely with managers by helping to analyze cost and operating information. They help in decision making by helping managers relate the operations of the company to the bottom line and company costs. According to Horngren, Sundem & Stratton (2005) management accountants are becoming â€Å"an advisor for managers about what information would be useful, what information is available, and how to get the needed information† (pg. 17). These accountants have become a key part of formulating the financial and business strategies of the company and are an essential part of working toward the overall profitability of the organization.   Ã‚  Ã‚  Ã‚  Ã‚  Effective managerial accountants need a wide range of knowledge from both the accounting and the financial aspects of the business as well as overall general business administrative knowledge. A background in the use of general accounting practices as well as information for planning and control, performance evaluations, decision-making, and the statement of cash flows, along with financial statement analysis are key areas managerial accountants should have confidence in. To be an effective internal consultant it is vital that a strong understanding of the general functions of the company and how they interrelate to the ultimate profitability of the organization is a large portion of the consultant’s background.   Ã‚  Ã‚  Ã‚  Ã‚  Accountants gather information to be used in different kinds of ways both internally within the organization and externally for the general public and outside agencies. Information is produced for stockholders who may review a prospectus or an annual financial report when determining whether or not to invest in the company. Organizations such as banks and suppliers are given information in determining credit eligibility and purchase arrangements for the company.

Creativity, psychology and the history of scienc Essay

Children are the most interesting people on earth to sit and watch at play. Their minds are so open to the endless possibilities that allow them to entertain each other for hours on end. Some children play house or pretend to be a mommy with a baby doll, and others pretend to be truck drivers or mechanics. There is always the inevitable play of doctor and nurse, and it is amazing at how much their little minds absorb in just a short amount of time. Adults have sometimes closed off the creative portal in their minds in order to stay focused on more important issues like marriage, work, paying bills, and making it to the gym three times a week. These routines leave little time for play or creativity, but everyone possesses the ability to be creative. Some individuals are more gifted and comfortable with expressing their creativity in positive ways. Some levels of creativity are so amazing that they last a lifetime. In a recent television interview, a country music singer commented on a recent speech given by the President of the Untied States. He quoted the President as having stated that some people have simply made enough money. This was more than an ironic statement to make considering that the United States is in the middle of a horrible economic recession. The country music singer further added that what if some people stopped their lives when they had reached a certain financial level. It was then pointed out that the now deceased actor, Danny Thomas, had taken his money and coupled it with the creative idea to open a hospital just for children who had cancer (Potter, 2009). This ambition was to accomplish the goal of treating every child with cancer without turning anyone away. The hospital is now a well recognized name, Saint Jude’s Children’s Hospital. Creativity comes from the minds of individuals who allow themselves to think beyond the realms of the societal norm. In the above instance, Danny Thomas wanted to share and to give PSYCHOLOGY 3 back to his community. In other words, he wanted to share his wealth in a way that would benefit everyone and not just himself (Davila, Epstein, & Shelton, 2007). His level of creativity afforded him the opportunity to solve the financial and emotional burdens of many parents of children suffering from cancer. It also provided children with the hope of getting better. If more individuals allowed for their creative flow to emerge beyond their own minds, there are many problems that may find resolution. Society has become too convinced to follow the herd rather than to think for themselves (Gruber & Bodeker, 2005). New innovations in medicine, counseling, education, and everyday living could all stand to benefit from the creative idea of one person. Freud was a creative thinker despite his own public ridicule. The field of medicine has benefited from genetic testing that now allows parents to prepare for an unborn child who may be born with a chromosomal defect. Teachers have developed new ways of teaching children with learning disabilities so that they can be later mainstreamed into regular classes. Everyone was born with a mind that allows them to think freely. Creativity is just one of the benefits of being human. Instead of hiding the creativity from within, why not allow it to emerge and grow. Problems could be solved and lives could be changed. Ultimately, it is up to the individual as to how and when the creativity can awaken, but psychologically, it is a gift that should not be overlooked. References Davila, T. , Epstein, M. , & Shelton, R. (2007). The creative enterprise: culture. Westport, CT: Greenwood Publishing Group. Gruber, H. , & Bodeker, K. (2005). Creativity, psychology and the history of science. Netherlands: Springer Publishing. Potter, S. (2009). Tennessee (5th ed. ). Jackson, TN: Avalon Travel Publishing.

The “Boundaryless” Career

The â€Å"Boundaryless† career serves as the status quo for 21st century career literature. (Dany,Francoise 2011) Based on the development of information and technology, researchers see the requirement to develop a more useful employment model for the â€Å"new organization era†.Contrasting with the previous career concept, now workers are more independent and more responsible for their own future. Although the definitions of the â€Å"Boundaryless† concept seek to explain modern career concepts, some researchers do criticize the theory as being difficult to operationalize (Rodrigues,Ricardo A. 2010) due to its ambiguity, and multiple definitions. (Inkson,Kerr 2012)In this paper I will critically analyze the theory of â€Å"Boundaryless† career and some of its criticisms, and at the same time attempt to cross reference the essay along with my own career development plans. Today labor market changed greatly and careers are becoming more complex and uncertai n. (Walton, P.304)The strengthening economics, forces organization to become more flexible with employment policy while the definition of career slowly changes to a lifelong learning process (Arnold, John1997), and the concept of the traditional job or job security are becoming obsolete. (Arthur&Rosseau,1994 Sommerland,Julie2007) Career can be understood differently by people from different back ground, culture or country.For those differences, still most individuals share a similar drive for a career. At any point in life we associate with career, example my education aim to master in business management studies is part my career. For an established definition, career is a sequence of work experiences over time-unfold (Arthur, Rousseau P.3).The notion of career offers a vantage point from which to understand the evolution of relationship between organization structure and strategy, as well as the relationship between individual and his/her behavior. (Inkson,Kerr 2012) Career can al so be described in two different ways.The subjective career or the psychological dimension and the objective career or also can be understand as the physical dimension of career. (Arthur,MB 2005) Since I started my career my focus is to work in an environment that I am comfortable to learn and continually seeking for new challenges.In the 21st century â€Å"new career† theory, these two aspects act as an important factor for worker’s decision about their own career. (Briscoe,Jon P. 2006) Most my transition between companies I made  were made to get closer to my career objective and in the same time being able keep my life style as much as possible, which really help me to balance out my physical and psychological demand for my career path.The â€Å"new career† literature has become a hot topic for researchers, and two concepts particularly grab the attention. The two modern career concepts are â€Å"Boundaryless† career and â€Å"Protean† career. Protean theory focus on achieving subjective success through self-directed vocational behavior while â€Å"Boundaryless† focuses on crossing both objective and subjective dimension of career at multiple levels of analysis including organizational position, mobility, flexibility, the work environment. (Sullivan,Sherry E. 2006, Briscoe,Jon P. 2006) As the present backdrop, â€Å"Boundaryless† career became an uncontroversial description of the way things are. (Arnold,John 2011)In 2011, â€Å"Boundaryless† career is one of the leading â€Å"new career† theories, in terms of published scholarly articles. (Rodrigues,Ricardo A. 2010) Although, according to some recent research and criticism, scholars emphasized physical mobility across organizational boundaries at the cost of neglecting psychological mobility and its relationship to physical relationship. (Rodrigues,Ricardo A. 2010) That is simply because Physical mobility is easier to measure than psychologic al mobility.However, despite the assumption of increasing mobility across organizations boundaries have rarely been analyzed in the career literature (Rodrigues,Ricardo A. 2010). Contrary to much of the rhetoric mobility between employers has not been increasing during the 1990s and 2000s. (Arnold,John 2011)Evidence from several countries suggests that most people still have long term employment setting and significant increase in mobility across organization boundaries (Inkson,2012) also in patterns of career mobility in the U.S.A and that key workers can still count on organizations for their career (Rodrigues,Ricardo A. 2010)The evidence also suggest that the type of career mobility commonly associated with â€Å"Boundaryless† has been present in the U.S.A and other countries in period considered to be dominated by hierarchical careers with organization. (Rodrigues,Ricardo A. 2010) From evidences and my own experience, I am certain that modern day worker still do seek for a secure job and a traditional like culture for the future.Other criticisms found on Arthur and Rousseau’s â€Å"Boundaryless†Ã‚  career as being problematic (Arnold,John 2011, Rodrigues 2010) as well as inaccurate labeling, loose definition, over emphasis on personal agency, normalization of â€Å"Boundaryless† career and poor empirical support for the claim dominance of â€Å"Boundarlyless† career. (Inkson,Kerr 2012)My experience during the economic recession, many people including myself needed to be mobile and act for own interest to get the best opportunity out in the competitive market. Then again in normal economic situation it seems to underestimates the degree of stability and the desire for stability in industry and employment.In conclusion as the new social contract between employers and employees seems to be propelled by the globalization process and by rapidly improving information technology (Sullivan,Sherry E. 2006). Research and theory on â€Å"Boundaryless† career has been responsive to changes in the economic and organizational context of the past 25 years (Inkson,Kerr 2012)The author argues for the need for a new career concept to grab the suitable policies for the modern workers who are changing in technologies and security disorder caused by the dynamic change. (Arthur&Rousseau P.4) Criticism suggest that the â€Å"Boundaryless† career offers confusion and ambiguity regarding whether the concepts provide description of how career are these days, especially concerning which particular boundaries are crossed.

Diabetes Mellitus, Type 2 Prevention in Children and Adolescents essayEssay Writing Service

Diabetes Mellitus, Type 2 Prevention in Children and Adolescents essayEssay Writing Service Diabetes Mellitus, Type 2: Prevention in Children and Adolescents essay Diabetes Mellitus, Type 2: Prevention in Children and Adolescents essayThe publication is formulated not in the traditional article form but rather represents an evidence-based care sheet containing key facts about diabetes mellitus, type 2 and the recommendations regarding the prevention of this disease among adolescents. The authors cite the relevant statistics of the disease and specifically emphasize the growing prevalence of diabetes mellitus among young people. The article also lists key factors correlating with type 2 diabetes such as obesity, dietary imbalances, physical inactivity, and outlines the states preceding the development of type 2 diabetes. Caple and March (2014) also provide a detailed list of barriers to lifestyle and behavioral changes among adolescents and children.The authors note that many of risk factors associated with type 2 diabetes are preventable and call to address these risks among children and adolescents using educational programs and behavioral in terventions. The article contains a set of recommendations to practitioners aimed at stimulating parents of young people to prevent diabetes type 2 in their children. Such measures as monitoring weight and body fat, assessing insulin and glucose reactions, encouraging involvement in long-term programs addressing risk factors for diabetes type 2 and initiating lifestyle changes.Supporting children and young people diagnosed with type 2 diabetes in school.The author explores the risks of type 2 diabetes among young people and focuses on obesity in particular. According to Bacon (2013), type 2 diabetes is often accompanied by obesity and cardiovascular disease, so it is important to address the health of young people at risk of type 2 diabetes in school. The author starts with exploring the background of type 2 diabetes, considers the prevalence of this disease, key risk factors, and pathophysiology. A lot of attention Bacon (2013) pays to identifying the roles and responsibilities of healthcare practitioners in educational settings (particularly, in school). Bacon (2013) clearly describes the procedures of early identification of diabetes type 2 and diagnostic criteria. An important part of the article is case study in which the author illustrates the practitioners actions aimed at addressing type 2 diabetes. In particular, the author mentions diabetes education and collaborative work of healthcare practitioners. The author recommends practitioners in educational settings to provide psychosocial support, life style corrections and preventive measures to young people in the high-risk group.Exploring risk, prevention and educational approaches for the non-diabetic offspring of patients with type 2 diabetes a qualitative study.The article is devoted to researching the knowledge of individual risks associated with type 2 diabetes among the offspring of patients with type 2 diabetes. The authors explore the background of the disease, relevant risk factors and preval ence, and emphasize that offspring of patients diagnosed with type 2 diabetes have higher risks of type 2 diabetes compared with other individuals. The purpose of the study was to identify whether the target population had a reasonable perception of own health risks related to type 2, diabetes. The research was implemented in the form of a qualitative study and data were collected using semi-structured interviews conducted in person. The results of analyzing the data using a structured framework approach indicated that although the participants were aware of healthy behaviors, they had insufficient understanding of their health risks and long-term effects of their lifestyle. The authors recommended developing strategies aimed at improving awareness and noted that fear-based strategies were likely to be most effective.

Pollution Analysis Essays

Pollution Analysis Essays Pollution Analysis Paper Pollution Analysis Paper 000 became seriously ill as the result of severe air pollution over Donors, Pennsylvania. In response was The Air Pollution control act that declared that air pollution was a danger to public health and welfare, but preserved the primary responsibilities and rights of the States and local government in controlling air pollution. The Seventies was the decade of awakening and clean up it began with the birth of the Environmental Protection Agency. The EPA is an agency of the federal government of the United States charged with protecting human health and the environment, by writing and enforcing isolations based on laws passed by Congress. Water Pollution was greatly decreased through a massive sewage treatment expansion program. Rivers, which were once sewers, now begin a gradual return from the grave. Air Pollution is cut back dramatically through use of catalytic converters on new cars that use only unleaded gasoline. From 1980-1990 Disasters showed the world the fragile side of industrial technology. The worlds worst industrial catastrophe took place in India a leak of methyl cocaines gas from the union Carbide India Limited pesticide plant and resulted in the exposure of he hazardous gas to the local communities. Estimates vary on the death toll. The official immediate death toll was 2,259 and the government of Madhya Pradesh has confirmed a total of 3, 787 deaths related to the gas release. Others estimate that 3,000 died within weeks and that another 8,000 have since died from gas-related diseases. Through these tragedies Environmental reform starts to gain momentum. Several peace seeking ships looking to stop the water pollution were bombed. The Rainbow Warrior was one of the first to take active action on the seas. The ship was active in supporting a number of Greenback protest. In 1990 the Persian Gulf War started to take place. Insurgents burn oil wells releasing hazardous gases into the ozone. In politics there becomes a standoff between conservatives and liberal factions in congress between environments over economic development. China begins production of the Three Gorges Dam, which became the worlds largest capacity hydroelectric power station with a generating capacity of 18,200. The new millennium brought upon changes in the presidents views of environmental policies. Bill Clinton a conservative steps down from the presidency and George Bush steps in to take his place. George Bush lowered environmental regulation on behalf of industry. Barack Obama in 2009 restored environmental and conservative missions for LSI regulatory agencies. Global Climate change became a pressing problem. An increasing number of scientist are warning that Global climate change is problem being created by pollution. All around us there are becoming more and more signs that our long history with pollution is going to have a negative effect on our planet and future generations More than two billion of the worlds poorest people still rely on biomass: wood, charcoal, Animal dung, crop wastes and coal-burning for household energy needs. Use of these fuels indoors leads to high levels of harmful pollution. This exposure increases the risk of diseases such as pneumonia, chronic respiratory disease and lung cancer. This accounts for a substantial proportion of the global burden of disease in developing countries. Evidence is also emerging that exposure may increase the risk of a number of important conditions such low birth rate and cataract. Household pollutants are contaminants that are released during various products in daily life. Hazardous household products fall into six broad categories: household leaners, paints and solvents, lawn and garden care, automotive products, pool chemicals, and health and beauty aids. Many commonly used household products in these categories release toxic chemicals. Household cleaners, paints and solvents, lawn and garden care, automotive products, pool chemicals, and health and beauty aids. Many commonly used household products in these categories release toxic chemicals. Insecticides, pesticides, weed killers, and fertilizers that are used for maintaining ones lawn and garden are another source of household pollution. When these products are to properly kept or properly disposed they may leak into the ground. When these chemicals hit the ground destroy all the nutrients in the soil and plants that are trying to grow. After it rains the pollutants run into local streams that flow into large bodies of water that we use for drinking. The U. S. Is the #1 trash-producing country in the world at 1 ,609 pounds per person per year. This means that 5% of the worlds people generate 40% of the worlds waste. Trash from households plays a major role in our struggle against pollution. Americans generated 251 million tons of trash in 2006. Sixty-five percent name from household trash. Every year, each American throws out about 1200 pounds of organic garbage that can be recycled. The Garbage that does not get recycled get put into large landfills across our country. The problem is because we throw out so much garbage we are running out of room to store it. Another way households add to the pollution problem is through consuming extreme amounts of energy. Most people do not conserve energy so it wastes power and burns through fossil fuels. Energy conservation is also important because consumption of nonrenewable sources impacts the Environment. Households is many Ways add to the rowing pollution problem on our planet As Industries grew larger citizens are forced to contend with staggering quantities of industrial waste. The impact of pollution on the population varied according to prevailing methods of waste disposal, the shifting geography of manufacturing, and changes in the citys economic strength. Pollutants given off by various industries and factories are often considered to be one of the prime factors contributing to air, water and soil pollution. According to the Environmental Protection Agency (EPA), it has been estimated that industrial pollution is responsible for almost 50 percent of the elution present in the United States. The main source of pollution from industries is air pollution. The emission of various greenhouse gases such as CO, methane (CHI), among others from various industries, increases the overall temperature of the earth, resulting in global warming. Dumping of various industrial waste products into water sources, and improper contamination of industrial wastes, often result in polluting the water. This is popular among chemical companies. Industrial wastes contain large amounts of various chemicals whish get accumulated on the top layer of soil resulting of a loss of fertility. This creates large amounts of soil pollution resulting from industry. Industries are a major source of pollution in our country. When industrial catastrophes happen most times it has the most negative effect on Environment. For Example last summer when the BP oilier blew up it dumped gallons of oil into the ocean. The effects of that spill will be felt for the next ten generations. BP lost a large sum of money but you cannot put a price on destroying a habitat for millions of living things. Industries have polluted our environment throughout our history and it will hurt our ecosystems on our lane for years to come. Pollution does not only damage the air it also damages the environments on earths surface. Plants and animals are harmed by air pollution. Sometimes it is the pollutants themselves that cause damage. Other times pollutants combine and change the resources that plants and animals depend upon such as water, soil, and nutrients. When an air pollutant, such as sulfuric acid combines with the water droplets that make up clouds, the water droplets become acidic. When those droplets fall to the ground as rain or snow, the acidity of the water can have damaging effects on the environment. When acid rain falls over an area, it can kill trees and harm animals, fish, and other wildlife. Acid rain destroys the leaves of plants. When acid rain infiltrates into soils, it changes the chemistry of the soil making it unfit for many living things that rely on soil as a habitat or for nutrition. Acid rain also changes the chemistry of the lakes and streams that the rainwater flows into, harming fish and other aquatic life. Thinning the ozone layer from air pollutants harms living things. Air pollution releases gases known as chlorofluorocarbons that destroy ozone molecules in the atmosphere. This leaves ozone holes that which ultraviolet radiation escapes through. Ultraviolet radiation causes skin cancer and damages plants and wildlife. Another Effect of large amounts of air pollution is Global warming. Our planets temperature is rising more rabidly than expected because of the additional greenhouse gases. Polar icecaps melt and permafrost melt are causing changes in the habitat and resources for plants and animals that live in these Polar Regions. This has had a major effe ct in the species on our planet. Disappearing habitats and resources makes it hard for an ecosystem o sustain itself. The earth was cover by 14. 8 billion acres of forest 8,000 years ago. Now only 8. 6 billion of acres remain. Species are currently going extinct at a faster rate than at any time in the past. This is not due to hunting but to chemical pollutants and over harvesting. Years of unregulated pollution have destroyed habitats and drove species to become extinct. There is no simple solution to the pollution problem on our planet. For years we have polluted our planet and have been set in our ways of doing so. The way for our planet to rebuild our ecosystem and reduce pollution is trotter regulations on hazardous waste and switching to renewable resources. Pollution taxes are charged on a per unit basis. Transferable Pollution permits allow firms to emit only the level of pollution, which they have permitted. One option for pollution control is the direct regulation by government officials. The Environmental Protection agency can set the emission standards for particular in industries and products. Also make punishments for going against these laws more severe. Another part of stronger regulation would be a market-based pollution control system. This would put a tax on every emission per unit. These solutions are making it so that pollution is not the cheaper option. The reasons why corporations choose to pollute because its a cheaper option most times then proper disposal. Pollution control clearly has its advantages but it is impossible to predict the total amount a of pollution reduction that will be created. Renewable resources are the way of the future. A major way to reduce the amount of pollution in the environment is using renewable resources that do not cause harm to the environment. Moving away from fossil fuels is important for our planet to achieve. The main types of renewable resource re Wind Energy, Solar power, and hydroelectric power. Wind power is the use of wind to power fan that connects to a turbine that creates renewable energy source. Solar power uses a grid that catches energy that is given off from the sun. Solar polar can generate the most amount of electricity out of the renewable resources. Hydroelectric power uses the current of a body of water to turn a turbine to create electricity. Using this solution will reduce the amount of fossil fuels that are being used on our planet since they are renewable we will never run out. It will be a long time before we see real hangers towards a switch to renewable resources.

Dystopia Essay Example | Topics and Well Written Essays - 500 words - 1

Dystopia - Essay Example This, therefore, implies that the members of the society live in a state and conditions that cannot be said to be conducive for human existence because of how they are controlled. Some of the sources of control that make the citizens to live in a dehumanized state include religious, technological and corporate control (Gordin, Tilley and ‎ Prakash 56).The American society is controlled by bipartisan parties that are not focused on the actual societal needs. There are several aspects of the American society today that show that the citizens are living in a dehumanized state. In the American society, there has been the collective loss of memory. Moreover the society has forgotten the history of mankind, how man came into existence and how man used to live long time ago. This has been caused by the bureaucratic religious and technological control in the society. In the current American society, mega corporations such as United Continental and Colgate Palmolive have continued to reduce and dwarf the power of the government and the citizens (Shteyngar 201). Due to this bureaucratic control, things like heath care and education have been privatized and the effect of this is disastrous. The collective memory loss and the forgetting of history of mankind have made the citizens become easy to manipulate. Gordin, Tilley and ‎ Prakash continue to say that the American society is easy to manipulate psychologically (32). The result of this is that the society has lived in a dehumanized state. The control that the society experiences from the bureaucratic, religious and corporate aspects of their lives has facilitated the psychological control; hence, making the state of living to be one that can be said to be a dehumanized one. Shteyngart say that the American society is so much concerned about their well wellbeing and they strive hard to be able to improve their lives (112). They have continued to be controlled by their jobs and personal needs. In the

Reflective memo Essay Example | Topics and Well Written Essays - 500 words

Reflective memo - Essay Example However, after some guidance and researching I was able to grasp the concepts required in an editorial and successfully wrote one. I learnt valuable information not only on the structure of an editorial but also on other aspects such as different types of editorials and the important aspects to be included in it. This course also required a student to conduct a movie evaluation. The challenge about this is that people have different views about movies and this influences how they conduct movie evaluations. Here, I was supposed to avoid subjective views on the movie and conduct an objective evaluation, which was a challenge. However, I was able to conduct a successful movie evaluation on a film called The Blind Side. This involved watching the film more than once and picking important aspects about it such as characterization, the themes and cinematography among others. I learnt important skills and knowledge on evaluating movies in terms of the different aspects present in the movie and ensure that subjective views are kept away from the evaluation. This course also included preparing a proposal and an annotated bibliography that would be used in a final research paper. The challenge regarding putting up the proposal was on the fact that I was supposed to choose a researchable topic from a variety of topics, some of which were either redundant or non-researchable. On the annotated bibliography, the challenge involved choosing sources that could give as much information on the topic as required rather than just choosing general sources on the topic. This could only happen by choosing credible sources, something that was not easy to do. However, I overcame these challenges and successfully wrote a proposal and an annotated bibliography that I used to write the research paper. With regard to the research paper, I learnt important skills in writing a well thought out research paper that

Explain the role of management Essay Example | Topics and Well Written Essays - 1500 words

Explain the role of management - Essay Example Managers look specifically at the individual's performance at any one time while leaders look at a team and their future prospects (Maundy, 2001) Managers within an organization do the planning for most of the sectors such as policy formulation, financial, marketing of products, and control of major assets. They also exercise their power on any issue arising such as the decision making processes. The leaders in an organization are responsible for building the large workforce and human resources within the company. These leaders also inspire, innovate, mentor, set examples, and revolutionize all the employees within the organization in order to achieve the best from them and also achieve the organization goals and objectives. (Maundy, 2001) The first function is planning-it can be defined as the process of developing the objectives and mission of the organization. A manager must also organize-this involves coordinating and dividing tasks among members of the organization. Here, the manager assigns responsibilities to team members. Staffing is another managerial function and can be defined as the filling and maintaining of all the positions available in a company. Some of the activities involved in this function include: recruiting, training, hiring, evaluation and compensation. Managers are also expected to control members of staff. This involves measuring performances, setting performance standards and taking corrective or preventive measures to ensure that the standards set are adhered to. Communication is another vital element in management and involves the transfer of information from management down to other members of the organizational structure. Lastly, managers are expected to motivate their team members, this involves influencing or channelling people's behaviour to accomplish the missions and objectives of the organization. (Mullin, 2007) Importance of team approach in achieving organisation's goals The model below is a pictorial representation of John Adair's action centred leadership. He believed that a manger has three roles; 1) he must plan, assign, review tasks of the organisation 2) he must communicate, create a culture of ethics, hive feedback to the team 3) he must understand individuals, develop, train and recognise each individual's efforts An organisation can be viewed as a combination of two sets of workers i.e. management and subordinates. Both categories have their own goals that have to be directed towards overall goals of the organisation. It is important for management to try and align employee goals with organisational goals. This means that everyone in the organisation will be working towards the same direction. This can be achieved by creating a sense of loyalty among employees and through communication. This implies that workers will work hand in hand with management thus achieving overall goals. In contrast, if every member of the organisation focuses on their own needs and did not consider their work group as a team, resources will be drained and losses will occur. Case study Taking an example of a hospital like

Required to perform an Analysis of Variance using SPSS Essay

Required to perform an Analysis of Variance using SPSS - Essay Example The observed result is the level of sales in that locality in the fortnight following the appearance of the first advertisement. From the two way analysis of variance, it can be observed that the main effect length and media are significant. This is because the significant value of media is 0.000; the significant value of media is 0.0000 which are less than 0.05 level of confidence. This implies that there is significant difference in the main effects. The significant value of the interaction of main effect media and length is equal to 0.001 which is less than 0.05 level of confidence. This implies that there is significant difference in the interaction. The percentage of the value of sales volume accounted by the model is 78.4%. This is because that value of R-squared is equal to 0.784. From the mean comparison of the sales posted though the Tv or radio advertisement, it can be observed that the value of significant difference indicate that there is no significant difference in the mean sales of the given by either Tv or Radio. From the pairwise combination of medium and length, it can be observed that the combination of long length and radio form of advertisement give the least sales. This implies that the combination of advertisement of long length and radio is the one that cannot be used for

The Rwanda Genocide Thesis Example | Topics and Well Written Essays - 2250 words

The Rwanda Genocide - Thesis Example The belief that one ethnic group was superior to the other is among the reasons why these events took place and they have remained a traumatic event in the history of Rwanda (De Lame 2009: 188). There have been attempts in recent years to reconcile the individuals who were on different sides during this genocide and this has been done in a manner, which is meant to ensure that Rwanda develops into a single cohesive society without any ethnic conflicts between the people of this state. Thus, in order to develop an understanding of the reasons behind the efforts of reconciliation, a discussion has to be made concerning the definition of ethnicity and the remedies, which can be used to ensure that it does not come to dominate the daily lives of individuals from different ethnic groups. In addition, a study of a similar process in South Africa has to be carried out and using this information develop an understanding of how to deal with reconciliation in post-genocide Rwanda. Apartheid South Africa, like Rwanda, was characterised by high levels of brutality and state-sponsored violence favouring one ethnic group over the other. It was in an attempt to deal with the aftermath of these instances that the government worked towards the development of a Truth and Reconciliation Commission where the truth concerning all the atrocities committed could be revealed so that all of the parties involved could find closure. This was essentially a dialogue between the oppressor and the oppressed and it was a means through which peace could be brought between them in a manner that prevented any potential conflict from taking place in the country because of past grievances (Gibson 2004: 40). However, while the South African commission was essentially created for political reasons since its purpose was to help in the transition from an autocratic system to a democratic one, any of such mechanisms that are developed in Rwanda should avoid any political allegiances.  

Over the next 30 years, what are the risks to National Security posed Essay - 5

Over the next 30 years, what are the risks to National Security posed by increased competition for energy and food resources; and what initiatives might Qatar pursue to reduce these risks - Essay Example having numerous deposits of oil and natural gas, Qatar and other countries in the GCC face a lot of challenges that are likely to threaten theory national security in the future(Bailey, 2013). In the next thirty years for instance, the competition for energy resources in Qatar is likely to be challenging to the extent of threatening national security (UN Economic and Social Commission for Western Asia, 2011). Current issues that Qatar faces are likely to sabotage progress of the energy sector thereby affecting national security. Among the issues Qatar faces include the inadequacy of energy production to meet the requirements of the population while consuming a lot of water resources are being use in the production process. A huge chunk of the countries food security is vested in international trade thus exposing the country to price risks. The political crisis in a few countries in the GCC and the Arab spring is also likely to affect competition for natural resources in Qatar thereby threatening national security for the next thirty years (Sharma, 2011). Qatar can however avoid this challenges that are likely to threaten the future of the state by diversifying its production process and the whole economy to incorporate different forms of commodities (Bailey,

Required to perform an Analysis of Variance using SPSS Essay

Required to perform an Analysis of Variance using SPSS - Essay Example The observed result is the level of sales in that locality in the fortnight following the appearance of the first advertisement. From the two way analysis of variance, it can be observed that the main effect length and media are significant. This is because the significant value of media is 0.000; the significant value of media is 0.0000 which are less than 0.05 level of confidence. This implies that there is significant difference in the main effects. The significant value of the interaction of main effect media and length is equal to 0.001 which is less than 0.05 level of confidence. This implies that there is significant difference in the interaction. The percentage of the value of sales volume accounted by the model is 78.4%. This is because that value of R-squared is equal to 0.784. From the mean comparison of the sales posted though the Tv or radio advertisement, it can be observed that the value of significant difference indicate that there is no significant difference in the mean sales of the given by either Tv or Radio. From the pairwise combination of medium and length, it can be observed that the combination of long length and radio form of advertisement give the least sales. This implies that the combination of advertisement of long length and radio is the one that cannot be used for

Over the next 30 years, what are the risks to National Security posed Essay - 5

Over the next 30 years, what are the risks to National Security posed by increased competition for energy and food resources; and what initiatives might Qatar pursue to reduce these risks - Essay Example having numerous deposits of oil and natural gas, Qatar and other countries in the GCC face a lot of challenges that are likely to threaten theory national security in the future(Bailey, 2013). In the next thirty years for instance, the competition for energy resources in Qatar is likely to be challenging to the extent of threatening national security (UN Economic and Social Commission for Western Asia, 2011). Current issues that Qatar faces are likely to sabotage progress of the energy sector thereby affecting national security. Among the issues Qatar faces include the inadequacy of energy production to meet the requirements of the population while consuming a lot of water resources are being use in the production process. A huge chunk of the countries food security is vested in international trade thus exposing the country to price risks. The political crisis in a few countries in the GCC and the Arab spring is also likely to affect competition for natural resources in Qatar thereby threatening national security for the next thirty years (Sharma, 2011). Qatar can however avoid this challenges that are likely to threaten the future of the state by diversifying its production process and the whole economy to incorporate different forms of commodities (Bailey,

A World of Difference Essay Example for Free

A World of Difference Essay Why do people live in one geographical area all their lives? Throughout my life time, this question has always fascinated me. What is the purpose, and what are the benefits? As a young girl, I grew up in the Mid-West, the famed â€Å"bread-basket† of the United States of America. My family owned a small dairy farm, and our lives revolved around the two daily milking’s. It didn’t take long; two and a half hours at the most, but those hours felt like a prison sentence. We never traveled more than a few hours from home since the cows were required to stay on a regular schedule. As I steadily climbed the ladder to adulthood, I promised myself that I would no longer live with such restraints. Exploration and travel became my dream. At the seasoned age of eighteen, I decided it was time to spread my wings and fly the coop. I joined the Armed Forces and spent a long couple of months missing home. That soon came to an end when I had the pleasure of traveling abroad for the first time in my life. I spent my first, and only, tour in South Korea. It was quite the culture shock for the young woman who had never been out of a four-state area. I managed quiet nicely though, I partied, made good friends and I met my future husband. Before I know it, I was married and had three little ones. My adventures were over, or so I thought. I plowed through the next twelve years being an at-home Mom. My days were exciting; anyone with children will tell you that each and every day is uncharted waters. My husband was in the Military and we were required to move every couple of years. It was nice seeing new places and exploring our new homes, but we never left the States. After years with my husband, I began to feel that jail cell again and I, once again, made the decision to see the world. I was hired as a Government Contractor and, as of present, have been living in the Middle East for five years. I have the luxury of a nice paycheck and, at the same time, I’m able to provide nice extras for my children. Having the knowledge of living in several different States, as well as the Far East, nicely prepared me for my next chapter. I divorced my husband and re-married a man who shares my goals of seeing the world. I’ve had the pleasure of vacationing in some of the greatest places on Earth. We have, on occasion, taken my children with us so they are exposed to the cultures of the world. This, I feel, is one of the greatest gifts I could ever share with them. When you meet and interact with different cultures, it allows your mind to grow. No text book, movie or documentary can compare to experiencing it in person. Travel, in itself, is a great education. We’ve learned that other cultures have something to contribute, even if it’s a different philosophy than our own. No matter what far-off place we encounter one thing is always the same; people are people. Eventually, my husband and I will move on to a different region on the World. And, at that time, we will start our adventures all over again. Even though homesteading in one area all your life is appealing to some; I could never again confine myself to those boundaries. The World has too much to offer, if you’re willing to ride her magic carpet. Travel and exploration are still my greatest goal. I could never envision myself living any other way. So, in some respect, I’m the opposite of the norm. When I look back on my great adventures, I could never imagine giving up my lessons of life by living in one location for a lifetime.

Death Anxiety and Stress Levels With Different Age Groups

Death Anxiety and Stress Levels With Different Age Groups q Introduction This research will be about studying the relationship between human’s age group with life stress level and also death anxiety. According to Peter, Cant, Payne, O’Connor, McDermott, Hood, Morphet and Shimoinaba (2013), death anxiety is the morbid, abnormal or persistent fear of ones own death or the process of his/her dying. Death anxiety is also a feeling of dread, apprehension or anxiety when one thinks of the process of dying. According to Angela Morrow (2011), stress is the bodys reaction to a change that requires a physical, mental or emotional adjustment or response. Terror Management Theory (TMT) was proposed in 1986 by social psychologists  Jeff Greenberg,  Tom Pyszczynski, and  Sheldon Solomon. The theory was inspired by the writings of cultural anthropologist,  Ernest Becker. The basic idea of the theory is that humans are motivated to control their potential for terror inherent in the human awareness of vulnerability and mortality by spending in cultural belief systems that imbue life with meaning, and the individuals who subscribe to them with self-esteem. Since its inception, the theory has generated empirical research into not just the nature of self-esteem and prejudice, but also a host of other forms of human social behavior (Cox and Arndt 2006).Self-esteem is showed to be an important anxiety-buffering function in the face of death-related thought, leading individuals with high levels of self-esteem to exhibit attenuated mortality salience effects. Thus, an attorney concerned with mortality salience-related factors which advers ely affecting his or her case may want to use pretrial surveys to identify and challenge jurors who show to be experiencing situational or dispositional factors that could be associated with low self-esteem (Lieberman and Arntd 2009). General Adaptation Syndrome was founded by Scientist Hans Selye(1907-1982). He showed 3 phases what the supposed effects of stress has on the body which was alarm stage, resistance stage and exhaustion stage. Throughout his work, he developed the theory that stress is a main cause of diseases because chronic stress causes long-term chemical changes. He observed that the body would respond to any external biological source of stress with a predictable biological pattern in an attempt to restore the body’s internal homeostasis. This early hormonal reaction is yourfight or flight stress response and its purpose is for handling stress very quickly! The process of the whole body’s struggle to maintain equilibrium is what Selye had termed, the General Adaptation Syndrome. Pressures, tensions, and other also stressors can greatly influence your regular metabolism. Selye determined thatthere is a limited supply of adaptive energy to deal with stress.That amount declines with c ontinuous exposure. (Richard J.) (2008). Therefore, our research statements would be â€Å"do different age group influence one’s stress level?† and â€Å"do different age group influence one’s death anxiety? Aim: To study the death anxiety and stress level with different age group. Variables: Independent: Age groups (Young adulthood, middle adulthood and older adulthood). Dependent: Stress level and death anxiety level. Hypothesis: As age level increase, the level of death anxiety increases. As age level increase, the stress level increase. Literature review A study by Harrawood, White and Benshoff(2009) was conducted to examine the relationship between the level of death anxiety among a national sample of United States funeral directors with varying levels of death exposure, age, and sex among 203 funeral directors working in the United States. The main results showed a significant but weak negative relationship between levels of death anxiety and the participants’ reported number of funerals attended per year. One of the limitations of this study is that conducting a survey through mail is not the best method because the researchers cannot be sure that the survey packets will be received by the participants. The recommended method would be interviewing the participants personally. Another relevant study by Chan and Yap (2009) was aimed to examine the influence of religion, religious orientation, gender, and age on death anxiety in a culturally diverse country like Malaysia. In this study, there were 320 participants ranging in age from 17-70 years. The results supported hypothesis C which is female participants would have lower death anxiety and death anxiety levels would not differ between young adults and older adults. However, it is stated in the research paper that participants recruited were obtained from the Klang Valley area. Limited in only one area is not a good sampling method, because the population outside of KlangValley is not included, therefore it would influence the results. A study by Mroczek and Almeida (2004) was conducted to examine whether stress reactivity becomes stronger or weaker with age. There were 1012 participants ranging in age from 25-74 years were took part in this study. The main results showed that there was a stronger association between daily stress and negative affect for persons high in neuroticism as compared to those low on the trait. In addition, there was also a stronger association between daily stress and negative affect for older as compared to younger adults. In this study, researchers should also include the age population below 25 and above 74 of years in order to get a more comprehensive result. Lastly, a study by Birditt, Antonucci and Tighe (2013) was carried out to investigate whether enacted support (emotional or instrumental) varies by relationship quality and stress appraisals among middle and older adulthood. There were 152 participants(principal respondents, PRs)who had experienced recent stressful life events and 180 participants as their identified supportive ties ranging in age from 8-98 years were took part in this study. The main results showed that thehigh quality relationships tended to enact consistently high levels of support irrespective of stress appraisals whereas low quality relationships enacted higher levels of support when PRs were more highly stressed.In this study, researchers should increase the number of participants in order to get a more accurate result. Methodology Participant Participants will be approached and filter to 3 different groups, young adulthood (20-39 years old), middle adulthood (40-64 years old) and older adulthood (65-74 years old). Each group will consist of 20 participants. The participants will consist of both women and men. Materials (Questionnaire) The Templer Death Anxiety Scale (TDAS) by Lonetto Templer was designed to determine one’s death anxiety level. It is a self-conducted 15-item scale where participants rate themselves on the true-false scale. The instrument is recorded by allocating 1 point to every item which is answered correctly and then will be summed up all the items at the end of the process. High scores on this scale show high death anxiety level while low scores indicate low death anxiety level. The TDAS has good validity whereby it correlated 0.74 with the Fear of Death Scale. Besides that the TDAS is capable of significantly unique between psychiatric patients who have high death anxiety level and a control group. The TDAS also has an internal reliability of 0.76 and a three-week test-retest reliability of 0.83. (Lonetto, R., Templer, D. I. (1983). (The nature of death anxiety.In C. D. Spielberger and J. N. Butcher (Eds.), Advances in personality assessment, Volume 3 (pp. 14-174). The Perceived Stress Scale (PSS) was developed to measure of the level to which situations in one’s life are appraised as stressful.It is a 14 item instrument that predicts both unbiased biological markers of stress and increased risk for disease among people with higher distinguished stress levels. For example, those with the higher scores (suggestive of chronic stress) on the PSS tend to be worse on biological indicators of aging, cortisol levels, immune markers, depression, infectious disease, wound healing, and prostate-specific antigen levels in men. The Perceived Stress Scale (PSS), designed to determine the level of situations in one’s life are appraised as stressful. The European Spanish version PSS (14-item) demonstrated adequate reliability (internal consistency, = .81, and test-retest, r = .73), validity (concurrent), and sensitivity. Additional data indicate adequate reliability (à ¯Ã†â€™Ã‚ ¡Ãƒ ¯Ã¢â€š ¬Ã‚  = .82, test-retest, r = .77), validity, and sensiti vity of a 10-item short version of the PSS (Remor, 2006). (Remor, E. (2006). (Psychometric properties of a European Spanish version of the perceived stress scale. The Spanish Journal of Psychology, 9(1), 86-93.) Procedure A total of 60 participants will be recruited randomly through random picking at Sunway Pyramid shopping center and at the same time select by presuming their age group in order to complete 20 participants per age group. Participants will then be briefed about the objective of this experiment and the instructions they need to follow. Next, participants will be given the first questionnaire by the researchers, which is the Templer Death Anxiety Scale (TDAS). In this section, participants are required to fill in their details as provided in section A (socio demographic) and proceed to section B which is the questions of the death anxiety questionnaire. Then, the researcher will collect back the questionnaires from the participants. After that, participants will be given the second questionnaire which is the Perceived Stress Scale (PSS). In this section, participants are required to fill in their details once more as provided in section A (socio demographic) and proceed to section B whic h is the questions to assess their stress scale. Then, the researcher will collect back the questionnaires from the participants. Both questionnaires collected will be used for data collection to be then converted into results. Design Cross sectional method will be used in this research because age group division will be involved. It will be a study based on data gathered at one time from groups of participants who represents different age groups. Each subject will be measure and tested only once and the results give us information about differences between the groups. Discussion Limitation of the research would be the amount of participants. Therefore it doesn’t represent the whole society. Future researchers are recommended to recruit more participants to get a higher accuracy results. Other than that the way to approach participants as planned would be a little time consuming. It is also not that efficient. Future researchers are recommended to approach participants in a more efficient way. Reference Angela Morrow, R. (2011, 1 19).Stress definition. Retrieved from http://dying.about.com/od/glossary/g/stress.htm Cathy, C., Jamie, A. (2008, 1 2).Terror management theory. Retrieved from http://www.tmt.missouri.edu/ Daniel K., M., David M., A. (2004). The effect of daily stress, personality, and age on daily negative affect.Journal of personality and social psychology,72(2), 355-378. JOEL.D, L., JAMIE , A. (2009, 7 1).Terror management theory and jury decision-making. Retrieved from http://www.thejuryexpert.com/2009/07/terror-management-theory-and-jury-decision-making/ Kira S., B., Toni C., A., Lauren, T. (2013). Enacted support during stressful life events in middle and older adulthood: An examination of the interpersonal context.27(3), 728–741. doi: 10.1037/a0026967 Laura K., H., Lyle J., W., John J., B. (2009). Death anxiety in a national sample of united states funeral directors and its relationship with death exposure, age, and sex.58(2), 129-146. doi: 10.2190/OM.58.2.c LI CHUIN, C., CHIN CHOO, Y. (2009). Age, gender, and religiosity as related to death anxiety. Lonetto, R., Templer, D. I. (1983). The nature of death anxiety.in c. d. spielberger and j. n. butcher (eds.).Advances in personality assessment,3, 14-174. Peters , L., Cant , R., Payne, S., OConnor , M., McDermott, F., Hood, K., Morphet , J., Shimoinaba, K. (2013). How death anxiety impacts nurses caring for patients at the end of life: a review of literature.7, 14-21. doi: 10.2174/1874434601307010014 Remor, E. (2006). Psychometric properties of a european spanish version of the perceived stress scale.The Spanish Journal of Psychology,9(1), 86-93. Richard, J. (2008).Hans selye’s general adaptation syndrome. Retrieved from http://www.essenceofstressrelief.com/general-adaptation-syndrome.html Appendix A Death Anxiety Scale Indicate whether each item is usually true or false for you most of the time. Scoring for death anxiety: T FI am very much afraid to die.T T FThe thought of death seldom enters my mind.F T FIt doesn’t make me nervous when people talk about death.F T FI dread to think about having to have an operation.T T FI am not at all afraid to die.F T FI am not particularly afraid of getting cancer.F T FThe thought of death never bothers me.F T FI am often distressed by the way time flies so very rapidly.T T FI fear dying a painful death.T T FThe thought of life after death troubles me greatly.T T FI am really scared of having a heart attack.T T FI often think about how short life really is.T T FI shudder when I hear people talking about a World War III.T T FThe sight of a dead body is horrifying to me.T T FI feel that the future holds nothing for me to fear.F Appendix B

The world :: essays research papers fc

This paper is about the world, but I've never written it. ------------------------------------------------------------------------ Editing Resources Other Resources Hosted by pair Networks ------------------------------------------------------------------------ ------------------------------------------------------------------------ A Critique of Martin Luther King, Jr.'s Version of Natural Law Theory Paradoxically, Martin Luther King, Jr., in his "Letter from Birmingham City Jail," initially uses classical natural law theory to defend his actions, but immediately thereafter contradicts a fundamental tenet of this theory and relies on a "weaker" version of natural law. In doing so, King must attempt to formulate a theory which justifies his illegal actions in view of his moral obligation to obey the law. King's failure to distinguish between legal obligations and moral obligations yields a logical paradox in his final formulation of natural law theory. However, King's theory need not be completely rejected if his argument is slightly modified to reject the moral obligation to obey laws. King initially uses classical natural law theory as his rational basis to defend his actions. This theory has two main component claims according to Murphy and Coleman (Sourcebook, I-35), the first being, "Moral validity is a logically necessary condition for legal validity- an unjust or immoral law being no law at all" followed by, "The moral order is a part of the natural order- moral duties being in some sense "read off" from essences or purposes fixed (perhaps by God) in nature." According to this theory, morality ‚ law, but law = morality by definition. Thus for King to use this theory, two requirements are implicit. He must assert that an unjust law is not really a law, and he must provide a moral theory to distinguish just and unjust laws. King first quotes St. Augustine, "an unjust law is no law at all," to emphasize his agreement with the first claim. He then includes the "law of God" as his moral theory to provide the framework upon which to judge the law. His argument using classical natural law theory at first seems to be a valid and necessary defense for breaking the law, i.e. disobeying segregation laws and orders to not march. Most people are initially supportive of his argument that an unjust law is not a law he can or should obey. King's comment that "one has a moral responsibility to obey just laws...one has a moral responsibility to disobey unjust laws" (Letter, p3) therefore appears to justify his actions. However, a rational analysis makes apparent several difficulties associated with this argument. The world :: essays research papers fc This paper is about the world, but I've never written it. ------------------------------------------------------------------------ Editing Resources Other Resources Hosted by pair Networks ------------------------------------------------------------------------ ------------------------------------------------------------------------ A Critique of Martin Luther King, Jr.'s Version of Natural Law Theory Paradoxically, Martin Luther King, Jr., in his "Letter from Birmingham City Jail," initially uses classical natural law theory to defend his actions, but immediately thereafter contradicts a fundamental tenet of this theory and relies on a "weaker" version of natural law. In doing so, King must attempt to formulate a theory which justifies his illegal actions in view of his moral obligation to obey the law. King's failure to distinguish between legal obligations and moral obligations yields a logical paradox in his final formulation of natural law theory. However, King's theory need not be completely rejected if his argument is slightly modified to reject the moral obligation to obey laws. King initially uses classical natural law theory as his rational basis to defend his actions. This theory has two main component claims according to Murphy and Coleman (Sourcebook, I-35), the first being, "Moral validity is a logically necessary condition for legal validity- an unjust or immoral law being no law at all" followed by, "The moral order is a part of the natural order- moral duties being in some sense "read off" from essences or purposes fixed (perhaps by God) in nature." According to this theory, morality ‚ law, but law = morality by definition. Thus for King to use this theory, two requirements are implicit. He must assert that an unjust law is not really a law, and he must provide a moral theory to distinguish just and unjust laws. King first quotes St. Augustine, "an unjust law is no law at all," to emphasize his agreement with the first claim. He then includes the "law of God" as his moral theory to provide the framework upon which to judge the law. His argument using classical natural law theory at first seems to be a valid and necessary defense for breaking the law, i.e. disobeying segregation laws and orders to not march. Most people are initially supportive of his argument that an unjust law is not a law he can or should obey. King's comment that "one has a moral responsibility to obey just laws...one has a moral responsibility to disobey unjust laws" (Letter, p3) therefore appears to justify his actions. However, a rational analysis makes apparent several difficulties associated with this argument.

Colonialism and Imperialism - European Invasion Depicted in Heart of Darkness :: Heart Darkness essays

The European Invasion in Heart of Darkness       The viewpoint of the European invasion of Africa, as seen through the eyes of Marlow in Joseph Conrad's Heart of Darkness, takes a dramatic turn. At first, Marlow sees through the European viewpoint, where the invasion is a heroic attempt to tame a mysterious culture, while reaping the rewards of the ivory trade. The descriptions of the natives are inhuman, monstrous and fearful. The shift in perception occurs as Marlow begins to see through the eyes of the natives. The result is compassion for an ancient civilization that is very much human in there fear of being conquered. Part of Marlow's European viewpoint stems from people he respects. From his " excellent aunt's" Christian viewpoint, there is a duty in " weaning those ignorant millions from their horrid ways"(Longman, P.2199). Marlow becomes influenced by the members in the partnership mostly concerned with obtaining ivory " I also was a part of the great cause of these high and just proceedings"(2202). The European viewed conquering the ignorant and using their ivory for wealth as heroic. The description of he manger's office walls contained "a collection of spears, assegais, shields, knives was hung up as trophies"(2208). In addition, the mission of Kurtz becomes " a very important one, in the true ivory-country, the very bottom there" (2204). Here the European viewpoint of invading Africa is heroic verses horrific. Through the description of hoe Marlow first view the natives; there is an expression of fear felt toward the uncivilized race not viewed as human. After the death of Marlow's African helmsman, Marlow question his sorrow for the loss for a " savage who was no more than a grain of sand in a black Sahara"(2227). In addition, when approaching Kurtz, Marlow's fearful description of an approaching native is " Some sorcerer, some witch-man, no doubt! It looked fiend-like enough" (2237). The fear of the unfamiliar culture unfolds with " mysterious niggers armed with all kinds of fearful weapons"(2204). In this viewpoint, fear is the European excuse for the invasion. The shift in Marlow's perception towards the natives develops as compassion for the fear Europeans have inflicted occurs. Marlow sees though the eyes of the natives with " The glimpse of the steamboat had for some reason filled those savages with unrestrained grief" (2221). Unfolding is the discovery that the savages are human after all.

Online Game Addiction Essay

Online game addiction is no longer just a worry of an American-chubby-child’s mother, but the worry of many parents in Cambodia and other less affluent countries. Recently, more teenage Cambodians were addicted to online games, in order to satisfy their fantasy of being heroes or warriors. Cambodian teens would rather eat less or even skip meals just to save money for the online games. Other than spending money, they also wasted their time. According to Chheng Roth Donior, a Cambodian teen, he normally spends three to five hours a day in internet cafes, even under the threat of his mother. It might have sounded strange to you, since Cambodia is not a wealthy country and most of the urban teens do not have internet at home, and why would they be addicted to online games? One of the reasons is more and more internet cafes have opened up, and Web access is growing rapidly these years. Another reason would be the teenagers in fact do not know they’re addicted to the online games or its harmful effects. The consequence of online game addiction could be serious, for example, last year in South Korea, a man died after playing online games for five days straight. For sure, the teenagers would waste all their money and time on those internet cafes. They would have less incentive to work or study since the satisfaction gained from the games is far more than those they could gain in their daily lives. It would also harm the gamers’ health (e. g. with poorer eyesight and less exercise) and would lower their face to face communication skills. Later, they may not be able to distinguish between the reality and the created world. Teenagers are the future of the country, measures must be taken as soon as possible to curb the addiction. First, promotion from the government is very crucial. The teenagers may not understand the harmful effects of online game addictions, government should advertise the harmful effect and possible consequences through mass media, i. e. TV advertisements, news paper, radio etc. Posters should also posted in school, streets and especially the internet cafes, just like a warning note must also included on the package of cigarettes. For why the teenagers would addict to online games, is that they could gain a sense of satisfaction by beating down their created enemies. Therefore, the teachers and parents of the teenagers should help them build their confidence, like giving them chances to develop their talents. For example, school can provide more Extra-curriculum activities for them afterschool. They should also help the teenagers to identify their dreams and targets, assuring them that nothing is impossible and encourage them to fight for their dreams through talks and lessons. Then they would not stick to the computer screens, instead, they would work very hard on their dreams. On their ways towards their goals, parents and teachers should give supports and advice to them. Third, government should set up clinics to help the gamers overcome their internet addictions, just like what China and South Korea did. The clinics should provide counseling and information about online game addiction, this could help those people who had already addicted to online games. Lastly, education is always the last resort of most problems. Schools and parents have the responsibility in teaching the teens about the harmful effects of online game addiction. They should educate the students or their children starting from their childhood. Schools can hold more talks on the issue in order to make sure that they receive related information. If we do not cope with the problem as soon as possible, the situation would become more complicated and serious. The solutions I suggested above would definitely help dealing with the problem, and I hope the situation would be improved soon.

Gainesboro Machine Tools Corporation Essay

Synopsis and Objectives In mid September 2005, Ashley Swenson, the chief financial officer (CFO) of a large computer-aided design and computer-aided manufacturing (CAD/CAM) equipment manufacturer needed to decide whether to pay out dividends to the firm’s shareholders, or to repurchase stock. If Swenson chose to pay out dividends, she would have to also decide upon the magnitude of the payout. A subsidiary question is whether the firm should embark on a campaign of corporate-image advertising, and change its corporate name to reflect its new outlook. The case serves as an omnibus review of the many practical aspects of the dividend and share buyback decisions, including (1) signaling effects, (2) clientele effects, and (3) the finance and investment implications of increasing dividend payouts and share repurchase decisions. This case can follow a treatment of the Miller-Modigliani1 dividend-irrelevance theorem and serves to highlight practical considerations to consider when setting a firm’s d ividend policy. Suggested Questions for Advance Assignment to Students The instructor could assign supplemental reading on dividend policy and share repurchases. Especially recommended are the Asquith and Mullins article2 on equity signaling, and articles by Stern Stewart on financial communication.3 1.In theory, to fund an increased dividend payout or a stock buyback, a firm might invest less, borrow more, or issue more stock. Which of those three elements is Gainesboro’s management willing to vary, and which elements remain fixed as a matter of the company’s policy? 2.What happens to Gainesboro’s financing need and unused debt capacity if: a. no dividends are paid? b. a 20% payout is pursued? c. a 40% payout is pursued? d. a residual payout policy is pursued? Note that case Exhibit 8 presents an estimate of the amount of borrowing needed. Assume that maximum debt capacity is, as a matter of policy, 40% of the book value of equity. 3. How might Gainesboro’s various providers of capital, such as its stockholders and creditors, react if Gainesboro declares a dividend in 2005? What are the arguments for and against the zero payout, 40% payout, and residual payout policies? What should Ashley Swenson recommend to the board of directors with regard to a long-term dividend payout policy for Gainesboro Machine Tools Corporation? 4. How might various providers of capital, such as stockholders and creditors, react if Gainesboro repurchased its shares? Should Gainesboro do so? 5.Should Swenson recommend the corporate-image advertising campaign and corporate name change to the Gainesboro’s directors? Do the advertising and name change have any bearing on the dividend policy or the stock repurchase policy that you propose? Supporting Computer Spreadsheet Files For students: Case_25.xls For instructors: TN_25.xls Hypothetical Teaching Plan 1.What are the problems here, and what do you recommend? The CFO needs to resolve the issue of dividend payout in order to make a recommendation to the board. She must also decide whether to embark on a stock repurchase program given a recent drop in share prices. The problems entail setting dividend policy, deciding on a stock buyback, and resolving the corporate-image advertising campaign issue. But numerical analysis of the case shows that the problem includes other factors: setting policy within a financing constraint, signaling the directors’ outlook, and generally, positioning the firm’s shares in the equity market. 2.What are the implications of different payout levels for Gainesboro’s capital structure and unused debt capacity? The discussion here must present the  financial implications of high-dividend payouts, particularly the consumption of unused debt capacity. Because of the cyclicality of demand or overruns in investment spending, some attention might be given to a sensitivity analysis cast over the entire 2005 to 2011 period. 3.What is the nature of the dividend decision that Swenson must make? What are the pros and cons of the alternative positions? (Or alternatively, Why pay any dividends?) How will Gainesboro’s various providers of capital, such as its stockholders and bankers, react to a declaration of no dividend? What about the announcement of a 40% payout? How would they react to a residual payout? The instructor needs to elicit from the students the notions that the dividend-payout announcement may affect stock price and that at least some stockholders prefer dividends. Students should also mention the signaling and clientele considerations. 4.What risks does the firm face? Discussion following this question should address the nature of the industry, the strategy of the firm, and the firm’s performance. This discussion will lay the groundwork for the review of strategic considerations that bears on the dividend decision. 5.What is the nature of the share repurchase decision that Swenson must make? How would this affect the dividend decision? The discussion here must present the repercussions of a share repurchase decision on the share price, as well as on the dividend question. Signaling and clientele considerations must also be considered. 6.Does the stock market appear to reward high-dividend payout? What about low-dividend payout? Does it matter what type of investor owns the shares? What is the impact on share price of dividend policy? The data can be interpreted to support either view. The point is to show that simple extrapolations from stock market data are untrustworthy, largely because of econometric problems associated with size and omitted variables (see the Black and Scholes article) .4 7.What should Swenson recommend? Students must synthesize a course of action from the many facts and considerations raised. The instructor may choose to stimulate the discussion by using an organizing framework such as FRICTO (flexibility, risk, income, control, timing, and other) on the dividend and share repurchase issues. The image advertising and name change issue will be recognized as another  manifestation of the firm’s positioning in the capital markets, and the need to give effective signals. The class discussion can end with the students voting on the alternatives, followed by a summary of key points. Exhibits TN1 and TN2 contain two short technical notes on dividend policy, which the instructor may either use as the foundation for closing comments or distribute directly to the students after the case discussion. Case Analysis Gainesboro’s asset needs The company’s investment spending and financing requirements are driven by ambitious growth goals (a 15% annual target is discussed in the case), which are to be achieved by a repositioning of the firm—away from its traditional tools-and-molds business and beyond its CAD/CAM business into a new line of products integrating hardware and software—to provide complete manufacturing systems. CAD/CAM commanded 45% of total sales ($340.5 million) in 2004 and is expected to grow to three-quarters of sales ($1,509.5 million) by 2011, which implies a 24% annual rate of growth in this business segment over the subsequent seven years. In addition, international sales are expected to grow by 37% compounded over the subsequent seven years.5 By contrast, the presses-and-molds segment will grow at about 2.7% annually in nominal terms, which implies a negative real rate of growth in what constitutes the bulk of Gainesboro’s current business.6 In short, the company’s asset needs are driven primarily by a shift in the company’s strategic focus. Financial implications of payout alternatives The instructor can guide the students through the financial implications of various dividend-payout levels either in abbreviated form (for one class period) or in detail (for two classes). The abbreviated approach uses the total cash flow figures (that is, for 2005–2011) found in the right-hand column of case Exhibit 8. In essence, the approach uses the basic sources-and-uses of funds identity: Asset change = New debt + (Profits − Dividends) With asset additions fixed largely by the firm’s competitive strategy, and with profits determined largely by the firm’s operating strategy and the environment, the remaining large-decision variables are changes in debt and dividend payout. Even additions to debt are constrained, however, by the firm’s maximum leverage target, a debt/equity ratio of 0.40. This framework can be spelled out for the students to help them envision the financial context. Exhibit TN3 presents an analysis of the effect of payout on unused debt capacity based on the projection in case Exhibit 8. The top panel summarizes the firm’s investment program over the forecast period, as well as the financing provided by internal sources. The bottom panel summarizes the effect of higher payouts on the firm’s financing and unused debt capacity. The principal insight this analysis yields is that the firm’s unused debt capacity disappears rapidly, and maximum leverage is achieved as the payout increases. Going from a 20% to a 40% dividend payout (an increase in cash flow to shareholders of $95.6 million),7 the company consumes $134 million in unused debt capacity. Evidently, a multiplier relationship exists between payout and unused debt capacity—every dollar of dividends paid consumes about $1.408 of debt capacity. The multiplier exists because a dollar must be borrowed to replace each dollar of equity paid out in dividends, and each dollar of equity lost sacrifices $0.40 of debt capacity that it would have otherwise carried. Whereas the abbreviated approach to analyzing the implications of various dividend-payout levels considers total 2005 to 2011 cash flows, the detailed approach considers the pattern of the individual annual cash flows. Exhibit TN4 reveals that, although the debt/equity ratio associated with the 40% payout policy is well under the maximum of 40 in 2011, the maximum is breached in the preceding years. The graph suggests that a payout policy of 30% is about the maximum that does not breach the debt/equity maximum. Exhibits TN5 and TN6 reveal some of the financial reporting and valuation implications of alternative dividend policies. Those exhibits use a simple dividend valuation approach and assume a terminal value estimated as a multiple of earnings. The analysis is unscientific, as the case does not contain the information with which to estimate a discount rate based on the capital asset pricing model (CAPM).9 The discounted cash flow (DCF) values show that the differences in firm values are not that large and that the dividend policy choice in this case has little effect on value. This conclusion is consistent with the Miller-Modigliani dividend-irrelevance theorem. Regarding the financial-reporting effects of the policy choices, one sees that earnings per share (EPS on line 30 in Exhibits TN5 and TN6) and the implied stock price (line 31) grow more slowly at a 40% payout policy, because of the greater interest expense associated with higher leverage (see the cumulative source on line 22). Return on average equity (unused debt capacity on line 28) rises with higher leverage, however, as the equity base contracts. The instructor could use insights such as those to stimulate a discussion of the signaling consequences of the alternative policies, and whether investors even care about performance measures, such as EPS and return on equity (ROE).10 Risk assessment Neither the abbreviated nor detailed forecasts consider adverse deviations from the plan. Case Exhibit 8 assumes no cyclical downturn over the seven-year forecast period. Moreover, the model assumes that net margin doubles to 5% and then increases to 8%. The company may be able to rationalize those optimistic assumptions on the basis of its restructuring and the growth of the Artificial Workforce, but such a material discontinuity in the firm’s performance will warrant careful scrutiny. Moreover, continued growth may require new product development after 2006, which may incur significant research-and-development (R&D) expenses and reduce net margin. Students will point out that, so far, the company’s restructuring strategy is associated with losses (in 2002 and 2004) rather than gains. Although restructuring appears to have been necessary, the credibility of the forecasts depends on the assessment of management’s ability to begin harvesting potential profits. Plainly, the Artificial Workforce has the competitive advantage at the moment, but the volatility of the firm’s performance in the current period is significant: The ratio of the cost of goods sold to sales rose from 61.5% in 2003 to 65.9% in 2004. Meanwhile, the ratio of selling, general, and administrative expenses to sales is projected to fall from 30.5% in 2004 to 24.3% in 2005. Admittedly, the restructuring accounts for some of this volatility, but the case suggests several sources of volatility that are external to the company: economic recession, currency, new-competitor market entry, new product mishaps, cost overruns, and unexpected acquisition opportunities. A brief survey of risks invites students to perform a sensitivity analysis of the firm’s debt/equity ratio under a reasonable downside scenario. Students should be encouraged to exercise the associated computer spreadsheet model, making modifications as they see fit. Exhibit TN7 presents a forecast of financial results, assuming a net margin that is smaller than the preceding forecasts by 1% and sales growth at 12% rather than 15%. This exhibit also illustrates the implications of a residual dividend policy, which is to say the payment of a dividend only if the firm can afford it and if the payment will not cause the firm to violate its maximum debt ratios. The exhibit reveals that, in this adverse scenario, although a dividend payment would be made in 2005, none would be made in the two years that follow. Thereafter, the dividend payout would rise. The general insight remains that Gainesboro’s unused debt capacity is relatively fragile and easily exhausted. The stock-buyback decision The decision on whether to buy back stock should be that, if the intrinsic value of Gainesboro is greater than its current share price, the shares should be repurchased. The case does not provide the information needed to make free cash flow projections, but one can work around the problem by  making some assumptions. The DCF calculation presented in Exhibit TN8 uses net income as a proxy for operating income,11 and assumes a weighted-average cost of capital (WACC) of 10%, and a terminal value growth factor of 3.5%. The equity value per share comes out to $35.22, representing a 59% premium over the current share price. Based on that calculation, Gainesboro should repurchase its shares. Doing so, however, will not resolve Gainesboro’s dividend/financing problem. Buying back shares would further reduce the resources available for a dividend payout. Also, a stock buyback may be inconsistent with the message that Gainesboro is trying to convey, which is that it is a growth company. In a perfectly efficient market, it should not matter how investors got their money back (for example, through dividends or share repurchases), but in inefficient markets, the role of dividends and buybacks as signaling mechanisms cannot be disregarded. In Gainesboro’s case, we seem to have the case of an inefficient market; the case suggests that information asymmetries exist between company insiders and the stock market. Clientele and signaling considerations The profile of Gainesboro’s equity owners may influence the choice of dividend policy. Stephen Gaines, the board chair and scion of the founders’ families and management (who collectively own about 30% of the stock), seeks to maximize growth in the market value of the company’s stock over time. This goal invites students to analyze the impact of the dividend policy on valuation. Nevertheless, some students might point out that, as Gaines and Scarboro’s population of diverse and disinterested heirs grows, the demand for current income might rise. This naturally raises the question: Who owns the firm? The stockholder data in case Exhibit 4 show a marked drift over the past 10 years, moving away from long-term individual investors and toward short-term traders; and away from growth-oriented institutional investors and toward value investors. At least a quarter of the firm’s shares are in the hands of investors who are looking for a turnaround in the not too distant future.12 This lends urgency to the dividend and signaling question. The case indicates that the board committed itself to resuming a  dividend as early as possible —â€Å"ideally in the year 2005.† The board’s letter charges this dividend decision with some heavy signaling implications: because the board previously stated a desire to pay dividends, if it now declares no dividend, investors are bound to interpret the declaration as an indication of adversity. One is reminded of the story, â€Å"Silver Blaze,† written by Sir Arthur Conan Doyle featuring the famous protagonist Sherlock Holmes, in which Dr. Watson asks where to look for a clue: â€Å"To the curious incident of the dog in the nighttime,† says Holmes. â€Å"The dog did nothing in the nighttime,† Watson answers. â€Å"That was the curious incident,† remarked Sherlock Holmes.13 A failure to signal a recovery might have an adverse impact on share price. In this context, a dividend—almost any dividend—might indicate to investors that the firm is prospering more or less according to plan. Astute students will observe that a subtler signaling problem occurs in the case: What kind of firm does Gainesboro want to signal that it is? Case Exhibit 6 shows that CAD/CAM equipment and software companies pay low or no dividends, in contrast to electrical machinery manufacturers, who pay out one-quarter to as much as half of their earnings. One can argue that, as a result of its restructuring, Gainesboro is making a transition from the latter to the former. If so, the issue then becomes how to tell investors. The article by Asquith and Mullins14 suggests that the most credible signal about corporate prospects is cash, in the form of either dividends or capital gains. Until the Artificial Workforce product line begins to deliver significant flows of cash, the share price is not likely to respond significantly. In addition, any decline in cash flow, caused by the risks listed earlier, would worsen the anticipated gain in share price. By implication, the Asquith–Mullins work would cast doubt on corporate-image advertising. If cash dividends are what matters, then spending on advertising and a name change might be wasted. Stock prices and dividends Some of the advocates of the high-dividend payout suggest that high stock prices are associated with high payouts. Students may attempt to prove that point by abstracting from the evidence in case Exhibits 6 and 7. As we know from academic research (for example, Friend and Puckett),15 proving the relationship of stock prices to dividend payouts in a scientific way is extremely difficult. In simpler terms, the reason is because the price/earnings (P/E) ratios are probably associated with many factors that may be represented by dividend payout in a regression model. The most important of those factors is the firm’s investment strategy; Miller and Modigliani’s16 dividend-irrelevance theorem makes the point that the firm’s investments—not the dividends it pays—determine the stock prices. One can just as easily derive evidence of this assertion from case Exhibit 7. The sample of zero-payout companies has a higher average expected return on capital (24.9%) than the sample of high-payout companies (average expected return of 9.4%); one may conclude that zero-payout companies have higher returns than the high-payout companies and that investors would rather reinvest in zero-payout companies than receive a cash payout and be forced to redeploy the capital to lower-yielding investments. Decision The decision for students is whether Gainesboro should buy back stock or declare a dividend in the third quarter (although, for practical purposes, students will find themselves deciding for all of 2005). As the analysis so far suggests, the case draws students into a tug-of-war between financial considerations, which tend to reject dividends and buybacks at least in the near term, and signaling considerations, which call for the resumption of dividends at some level, however, small. Students will tend to cluster around the three proposed policies: (1) zero payout, (2) low payout (1% to 10%), and (3) a residual payout scheme calling for dividends when cash is available. The arguments in favor of zero payout are: (1) the firm is making the  transition into the CAD/CAM industry, where zero payout is the mode; (2) the company should not ignore the financial statements and act like a blue-chip firm—Gainesboro’s risks are large enough without compounding them by disgorging cash; and (3) the signaling damage already occurred when the directors suspended the dividend in 2005. The arguments in favor of a low payout are usually based on optimism about the firm’s prospects and on beliefs that Gainesboro has sufficient debt capacity, that Gainesboro is not exactly a CAD/CAM firm, and that any dividend that does not restrict growth will enhance share prices. Usually, the signaling argument is most significant for the proponents of this policy. The residual policy is a convenient alternative, although it resolves none of the thorny policy issues in the case. A residual dividend policy is bound to create significant signaling problems as the firm’s dividend waxes and wanes through each economic cycle. The question of the image advertising and corporate name change will entice the naive student as a relatively cheap solution to the signaling problem. The instructor should challenge such thinking. Signaling research suggests that effective signals are both unambiguous and costly. The advertising and name change, costly as they may be, hardly qualify as unambiguous. On the other hand, seasoned investor relations professionals believe that advertising and name changes can be effective in alerting the capital markets to major corporate changes when integrated with other signaling devices such as dividends, capital structure, and investment announcements. The whole point of such campaigns should be to gain the attention of the â€Å"lead steer† opinion leaders. Overall, inexperienced students tend to dismiss the signaling considerations in this case quite readily. On the other hand, senior executives and seasoned financial executives view signaling quite seriously. If the class votes to buy back stock or to declare no dividend in 2005, asking some of the students to dictate a letter to shareholders explaining the board’s decision may be useful. The difficult issues of credibility will emerge in class with a critique of this letter. If the class does vote to declare a dividend payout, the instructor can challenge the students to identify the operating policies they gambled on to make their decision. The underlying question: If adversity strikes, what will the class sacrifice first: debt, or dividend policies? To use Fisher Black’s term, dividend policy is â€Å"puzzling,† largely because of its interaction with other corporate policies and its signaling effect.17 Decisions about the firm’s dividend policy may be the best way to illustrate the importance of managers’ judgments in corporate finance. However the class votes, one of the teaching points is that managers are paid to make difficult, even high-stakes policy choices on the basis of incomplete information and uncertain prospects. Exhibit TN1 GAINESBORO MACHINE TOOLS CORPORATION The Dividend Decision and Financing Policy The dividend decision is necessarily part of the financing policy of the firm. The dividend payout chosen may affect the creditworthiness of the firm and hence the costs of debt and equity; if the cost of capital changes, so may the value of the firm. Unfortunately, one cannot determine whether the change in value will be positive or negative without knowing more about the optimality of the firm’s debt policy. The link between debt and dividend policies has received little attention in academic circles, largely because of its complexity, but it remains an important issue for chief financial officers and their advisors. The Gainesboro case illustrates the impact of dividend payout on creditworthiness. Dividend payout has an unusual multiplier effect on financial reserves. Table TN1 varies the total 2005–2011 sources-and-uses of funds information given in case Exhibit 8, according to different dividend-payout levels. Exhibit TN1 (continued) Table TN1 Exhibit TN1 (continued) As Table TN1 reveals, one dollar of dividends paid consumes $1.40 in unused debt capacity. At first glance, this result seems surprising—under the sources-and-uses framework, one dollar of dividend is financed with only one dollar of borrowing. The sources-and-uses reasoning, however, ignores the erosion in the equity base: A dollar paid out of equity also eliminates $0.40 of debt that the dollar could have carried. Thus, a multiplier effect exists between dividends and unused debt capacity, whenever a firm borrows to pay dividends. Choosing a dividend payout will affect the probability that the firm will breach its maximum target leverage. Figure TN1 traces the debt/equity ratios associated with Gainesboro’s dividend-payout ratios. Figure TN1. Plainly, the 40% dividend-payout ratio violates Gainesboro’s maximum debt/equity ratio of 40%. The conclusion is that, because the dividend policy affects the firm’s creditworthiness, senior managers should weigh the financial side effects of their payout decisions, along with the signaling, segmentation, and investment effects, to arrive at their final decision for the dividend policy. Exhibit TN2 GAINESBORO MACHINE TOOLS CORPORATION Setting Debt and Dividend-Payout Targets The Gainesboro Machine Tools Corporation case well illustrates the challenge of setting the two most obvious components of financial policy: target payout and debt capitalization. The policies are linked with the firm’s growth target, as shown in the self-sustainable growth model: gss = (P/S ï€ ªÃƒâ€" S/A Ãâ€" A/E)(1 − DPO) Where: gss is the self-sustainable growth rate P is net income S is sales A is assets E is equity DPO is the dividend-payout ratio This model describes the rate at which a firm can grow if it issues no new shares of common stock, which describes the behavior or circumstances of virtually all firms. The model illustrates that the financial policies of a firm are a closed system: Growth rate, dividend payout, and debt targets are interdependent. The model offers the key insight that no financial policy can be set without reference to the others. As Gainesboro shows, a high dividend payout affects the firm’s ability to achieve growth and capitalization targets and vice versa. Myopic policy—failing to manage the link among the financial targets—will result in the failure to meet financial targets. Setting Debt-Capitalization Targets Finance theory is split on whether gains are created by optimizing the mix of debt and equity of the firm. Practitioners and many academicians, however, believe that debt optima exist and devote great effort to choosing the firm’s debt-capitalization targets. Several classic competing considerations influence the choice of debt targets: 1.Exploit debt-tax shields. Modigliani and Miller’s theorem implies that in the world of taxes, debt financing creates value.1 Later, Miller theorized that when personal taxes are accounted for, the leverage choices of the firm might not create value. So far, the bulk of the empirical evidence suggests that leverage choices do affect value. 2.Reduce costs of financial distress and bankruptcy. Modigliani and Miller’s theory naively implied that firms  should lever up to 99% of capital. Virtually no firms do this. Beyond some prudent level of debt, the cost of capital becomes very high because investors recognize that the firm has a greater probability of suffering financial distress and bankruptcy. The critical question then becomes: What is â€Å"prudent†? In practice, two classic benchmarks are used: a. Industry-average debt/capital: Many firms lever to the degree practiced by peers, but this policy is not very sensible. Industry averages ignore differences in accounting policies, strategies, and earnings outlooks. Ideally, prudence is defined in firm-specific terms. In addition, capitalization ratios ignore the crucial fact that a firm goes bankrupt because it runs out of cash, not because it has a high debt/capital ratio. b. Firm-specific debt service: More firms are setting debt targets based on the forecasted ability to cover principal and interest payments with earnings before interest and taxes (EBIT). This practice requires forecasting the annual probability distribution of EBIT and setting the debt-capitalization level, so that the probability of covering debt service is consistent with management’s strategy and risk tolerance. 3.Maintain a reserve against unforeseen adversities or opportunities. Many firms keep their cash balances and lines of unused bank credit larger than may seem necessary, because managers want to be able to respond to sudden demands on the firm’s financial resources caused, for example, by a price war, a large product recall, or an opportunity to buy the toughest competitor. Academicians have no scientific advice about how large those reserves should be. 4.Maintain future access to capital. In difficult economic times, less creditworthy borrowers may be shut out from the capital markets and, thus, unable to obtain funds. In the United States, â€Å"less creditworthy† refers to the companies whose debt ratings are less than investment grade (which is to say, less than BBB2 or Baa3). Accordingly, many firms set debt targets in such a way as to at least maintain a creditworthy (or investment grade) debt rating. 5.Opportunistically exploit capital-market windows. Some firms’ debt policies vary across the capital-market cycle. Those firms issue debt when interest rates are low (and issue stock when stock prices are high); they are bargain-hunters (even though no bargains exist in an efficient market). Opportunism does not explain how firms set targets so much as why firms deviate from those targets.