Monday, September 30, 2019

Cubism Review

Benjamin T. Shirrell Painting 1 April 2010 The most interesting statement I found in my exploration of Cubism was from historian John Golding: Cubism was perhaps the most important and certainly the most complete and radical artistic revolution since the Renaissance. New forms of society, changing patronage, varying geographic conditions, all these things have gone to produce over the past five hundred years a succession of different schools, different styles, different pictorial idioms. But none of these has so altered the principles, so shaken the foundations of Western painting, as did Cubism. _ This statement put emphasis on the Cubist period, a time, which was of vast importance and developing style. Seeing the works and taking the time to understand them are two contributors that make these artists more significant. Picasso created a work in 1907, known as one of the century’s most important Les Demoiselles d’Avignon. Important in the sense that it moved other influential artists, but also because of deeper meaning in style and message. Although Picasso didn’t create his fully developed Cubist paintings in 1907, his work of that year instigated the cubist revolution. A brand-new approach representing space and the construction of form that was later a defying Cubists’ most important qualities. An important concept I learned understanding cubism understood the difference in experimental artists and conceptual artists. Experimental artists develop their contributions gradually and have a maturing style while conceptual artists put a more random thought provoked effort. Picasso’s initial goal was to describe knowledge of objects rather than their appearance. Before Demoiselles d’ Avignon, came a number of preparatory sketches. I was able to find a gallery of some sketches online, the most fascinating in my opinion. I noticed sketches from hard lines up to incorporation of color and later incorporation of instruments. I was greatly influenced by these sketches in my most recent works.

Sunday, September 29, 2019

Ibm Marketing Mix (Denmark)

Marketing: Foundations and applications Course code: BMAN-20390 Marketing analysis of IBM 1. 0 Thesis statement â€Å"Evaluate the marketing strategy of a blue-chip company you are familiar with. Your evaluation should critically discuss the concept of the marketing mix as applied to your chosen organisation and at least one other academic marketing theory. † 2. 0 Limitations IBM is a very large organization so the planning process of a marketing strategy that is coherent with the corporate strategy is made complicated and difficult because IBM operates in a number of significantly different markets.I have therefore since I am an employee of IBM Denmark decided that this is the â€Å"strategic business unit† that I am going to analyze in terms of their marketing strategy. Furthermore the portfolio of products that IBM Denmark supplies ranges from everything to hardware sales, software sales and consultancy services. There might be a significant difference in the way the se products are promoted, and I have therefore narrowed it further down to focus on the tertiary activities, meaning the marketing strategy of the consultancy services (in IBM known as GBS – Global Business Services).This limitation is convenient because it allows me to properly analyze the marketing strategy in this given area – as opposed to making an analysis based upon IBM as a whole with their entire portfolio of products, as this would not be fulfilling in a 2500 word essay. 3. 0 Preface IBM mission statement: â€Å"At IBM, we strive to lead in the invention, development, and manufacture of the industry’s most advanced information technologies, including computer systems, software, storage systems, and microelectronics.We translate these advanced technologies into value for our customers through our professional solutions, services, and consulting businesses worldwide†. From the mission statement above we can conclude that IBM wants to be a leader o n the blue-chip market – which we in terms of their size can conclude they are close to being. In the following essay the reader will be introduced to the marketing strategy of IBM. Furthermore the reader will be introduced to a SWOT analysis, in which it will be discussed and concluded which strategic position IBM has on the current market.In regards to the limitation above this will be an analysis based upon IBMs services provision in Denmark. The reader will find out that the classical approach with the 4ps of marketing doesn’t really apply to this part of the business that IBM conducts. Instead an additional three Ps has been added, and these will be discussed as well. SWOT Analysis One of the trustiest tools in business is the SWOT analysis. Corporations takes a calm, cool look down at the organisations Strengths, Weaknesses, Opportunities and Threat’s.Then they seek to capitalise on the strengths, eliminate the weaknesses, seize the best opportunities and counter the threats. Figure 4. 1 is a SWOT analysis of the global business services for IBM, and the end result of this analysis should help us to give a clear view of IBM’s strategic position on the market, which we then can use to discuss their marketing strategy. Figure 4. 1 – IBM DK GBS SWOT Strengths: IBM Denmark has been on the Danish market since 1950 – which leaves them with a significant amount of experience of the market.The wide range of their strategic competencies runs from everything from hardware-sales to business consultancy, the latter being one of their profitable areas of expertise. Furthermore IBM DK has a leading position on the Danish services market, being one of the biggest consultancy houses in the country. It is the combination of its size and experience on the market that leaves them to be one of the preferred business partners in Denmark and in the rest of the world. IBM Denmark like most companies believes it is necessary to have a t alented workforce.IBM is present at local universities promoting themselves with the purpose of future recruitment. Through this initiative they attract the students they believe is prospects as future IBM leaders, and sign them off before their competitors. Furthermore IBM is extremely flexible, meaning that leaders across country borders are stationed in different parts of the world. A lot of IBM DKs top leaders are individuals who have a history with IBM, but only in a different SBU. Weaknesses: Being located in Denmark one is urged to believe that it is inevitable to have high operating costs, especially labour cost.Denmark does have one of the highest salary rates in the world. And with a personnel count of nearly 5. 000 people this results in big money. Opportunities: With the increased focus on the environment in recent years – IBM must be innovative and continue to lead the market by supplying greener solutions to their customers. A growing body of evidence asserts th at corporations can do well, by doing good. IBM must differentiate their brand and reputation as well as their products and services, by taking responsibility for the wellbeing of the societies and environments in which they operate.Practicing corporate social responsibility can generate significant returns to their business. Furthermore if IBM could reduce their operating costs, then it would also be possible to reduce their prices, without compromising with the quality of their products. IBM has already taken initiatives to reduce their labour costs. Danish consultants requires a high salary rate, which is why IBM DK wherever possible tries to limit the amount of these consultants. Instead they will bring consultants from India and other low cost countries to Denmark and assign them to the project that is to be executed.This allows them to sell the service for a more competitive price. It has been discussed if IBM should completely shut down its locations in the EU, and outsource the entire European operations to low cost countries – however I personally believe that this would be compromising the quality of the service provided as it surely must be necessary to have people with local market knowledge assisting on the projects. Threats: As the world continues to get smaller, IBM like other big corporations faces the challenge of outsourcing.Especially IBM Denmark is threatened by outsourcing, as Denmark has the highest tax rate in the world, which will force IBM to have higher prices, than what is offered abroad – leaving them more vulnerable to the threat of outsourcing. Furthermore the introduction of changes in various services are not patentable (reference: http://www. mgutheses. org/page/? q=T%200984&search=&page=&rad=#43, page 32), meaning that the innovativeness of a company like IBM can easily be adopted by newcomers to the market.Also, as a service is not a manufactured product, but really a transaction of knowledge  œ it is hard to imagine that it is capital intensive to enter the service industry. Marketing mix â€Å"The marketing mix is an imperative concept in modern marketing and academically it is referred to as a set of controllable tools that the firm blends to produce the response it wants in the target market, so it consists of everything the firm can do to influence the demand for its products† (Kotler and Armstrong 2004).The easiest way to understand the main aspects of marketing is through the famous 4P’s marketing, which was introduced and suggested by McCarthy in 1960 (reference: http://university-essays. tripod. com/marketing_mix. html). It includes marketing strategies of product, price, placement and promotion. It is however interesting if this also applies to a company that sells services and not a material product. Given the unique and distinguishing features of the service industry, researchers have offered different models and approaches to the marketing of se rvices.It is suggested that services marketing does not only include external marketing reaching the customers, but also an internal marketing strategy to motivate the employees (reference: A service quality model and its implications, Christian Gronross, vol 18, No. 4, 1984, pp. 36-44). Figure 2 – The triangle model of services marketing Company Internal MarketingExternal Marketing Employees Customers Interactive Marketing As stated above the internal marketing is for the company to motivate their employees to serve its customers in the best possible way.External marketing is when the company makes its service available to its customers to increase the demand. The interactive marketing involves to the effort of employees to win customers loyalty in the process of their interaction with the customers in delivering the services. This must be closely related to internal marketing. In IBM DK, the consultants and salespeople are paid partly in a fixed salary scheme and a variable scheme depending on their results. Furthermore these same IBM representatives will receive an annual bonus, if IBM on the given project has reached a certain percentage of profit.These incentives through salaries and bonuses can be associated to what we clarify as internal marketing. For the external marketing side – the traditional marketing mix as we know them through the 4p’s can also be applied on services marketing as they are applied on tangible goods. But it is discussed to be difficult. Which is why for services marketing, a modified marketing mix has been developed. The services marketing mix comprises 7p’s and these include the following: * Product * Price * Place * Promotion * People * Process * Physical evidenceIt is important to look closer at some of these P’s, which will be done in the following. Product: The most important question to be asked here is â€Å"are these the right products or services for our customers today†? IBM cont inues to be the leading innovator on the market, spending billions of dollars every year in their research centers providing their customers with the newest technologies and always making sure that the quality of the products is of IBM’s usual reputed quality. Price: As anyone can imagine the price of the service provided is essential for whether or not IBM wins the customer over.As soon as the appropriate experts has analyzed the pre project resources that is to be needed for the project he informs the pricing department. The pricer then based on these assumptions, inflation, currency differences, management desired PTI % (pre tax income), and our cost case calculated a price that is then been presented to the customer. Promotion: When promoting their services IBM first make rational decions on which businesses to approach. Then they divide their promotion into how big the markets are, e. g a segment could be small and medium business†. Within a specific constituency m arket, IBM first identifies which businesses make the most sense to connect with. Then, the IBM determines the most efficient way to reach each of them. whether through individualized marketing or a creative combination of IBM's go-to-market strategies† IBM also enters the business community through professional associations and organizations. Such groups generate interest in IBM and may even help IBM identify new business partners. By sponsoring and participating with them, IBM is able to communicate its message of value to the member businesses.Furthermore IBM through their marketing incentives has adopted a more emotional approach in the way they promote themselves. Rai Cockfield VP Market development states that all people prior to purchase asks the following â€Å"Does this product or service meet my need? Is the company reputable? And is the price reasonable? † Today, he adds a more pressing question, â€Å"Are you reaching me in the way that I see myself? Ã¢â‚¬Ë œ â€Å"That's what endears a person to a company and a product,† he says. (reference: http://www-03. ibm. com/employment/us/diverse/50/ads. html. ) People: An important ingredient to any service provision, is as we have discussed above having qualified personnel. Recruiting the right staff and people and training them appropriately in the delivery of services is essential if IBM wants to continue having their competitive advantage. Providing a service is partly the quality of the service and the quality of the people that delivers it, as these are in constant contact with the customer. As mentioned above, IBM has had university partnerships in order to recruit students. Process:When selling their services IBM has two processes. Either the customer comes to IBM looking for an offer on a service they need provided. IBM then sends the appropriate people to analyse the resources that are needed to provide this service. An offer is then presented to the customer. A different proc ess is when we have existing customers, the client manager is responsible for looking for new business services that we can provide them. And then the process starts over, in regards to presenting an offer after calculating the resources we need for the project.Conclusion IBM wants to be the leader on the Danish market. And in terms of their size we can conclude that they are close to being just that. From the SWOT analysis above we saw that IBM has the needed experience and size to be one of the biggest consultancy houses in the country and in the world. Furthermore with the increasing focus on the environment IBM has the possibility to be the leading innovator for greener solutions – an opportunity that they have successfully capitalized on through their continued research for more environmental solutions.However despite IBM being a big player on the Danish services market, it is important that they reduce their high operating costs. By bringing Indian and other low cost co nsultants into the game, they have somewhat succeeded in doing this as these have lower salary rates. In the marketing of services we have concluded that an external marketing effort is not enough for successfully promoting itself. An internal marketing strategy is also essential for obtaining success. IBM must motivate its employees as these are the focalpoint to customer, in which case it is important that they are motivated and happy.In promoting and marketing themselves IBM has also realised that they in today’s world they must reach their customers on a more personal level, and not merely connect through reputation and price. Connecting with its customers on a personal level and delivering top quality services is what keeps IBM on top of their game and in even in rough financial times they have succeeded in being one of the top choices as business partner.References Websites:http://www. entrepreneur. om/marketing/article70824. htmlhttp://www. scribd. com/doc/10999474/IBM -Strategic-Analysishttp://www. simplemarketingblog. com/2009/06/sandy-carter-integrates-social-media. htmlhttp://www. itsma. com/ezine/analytics-optimize-marketing-mix/http://university-essays. tripod. com/marketing_mix. html

Saturday, September 28, 2019

647 W5D Fish Bone diagram Essay Example | Topics and Well Written Essays - 250 words

647 W5D Fish Bone diagram - Essay Example Fishbone diagrams allow for a thoughtful analysis that avoids overlooking any possible cause for a need (Reilly, Myers, Salvador & Trowbridge, 2014). The diagram employs a technique that is easy to implement and that creates an easily comprehensible visual representation with categories. One can concentrate on the group that is most likely to cause the problem. Location can address the need to a given situation. However, the fishbone diagram goes further to indicate the areas of weakness requiring rectification in time before causing sustained difficulties (Wang, 2013). In the example below the problem in question is the â€Å"effect.† It illustrates the Missed Free Throws. The causes are categorised as either service setting or manufacturing setting. In this example, the manufacturing setting groups come first because they have no variability. They include materials, measurement, people, methods and environment. Enough details that identify the exact root causes are then fixed under each major category. The detailed sub-categories are generated from the data collected from the data sheets and brainstorming from group

Friday, September 27, 2019

- Financial Accounting Essay Example | Topics and Well Written Essays - 1500 words

- Financial Accounting - Essay Example See appendix 2 (Clarke 2010, pp. 71). (b): while preparing the cash budget, the sales increase by  £ 3,000 per month has been factored in. On a similar note, the quarterly payment of electricity cost and the reduction of the electricity by  £ 1,000 every month have been factored in. See appendix 3 (Albrecht 2007, pp. 901). (c): Working capital includes cash, inventory, marketable securities and account receivables. It is always advisable for business entities maintain a sufficient amount of cash, since it is the most liquid asset, to enable an entity’s operations to run effectively. Therefore, cash, account receivables and marketable securities are types of working capital that are constantly required to carry out the operations of a business entity. Kawasaki Ltd has two types of working capital under its management. They are the account receivables, the inventories and cash. Though the inventories are not as liquid as compared to cash, they can be converted to cash when the need arises (Bhattacharyya 2004, pp. 29-50). The company has a policy in place to regulate the account receivables. The policy states that the buyers have 30 days after sales to pay their dues. Therefore, the debtors’ payable period is 30 days. The period is short enough to reduce the amount of cash tied up on debts, thus, increases the cash availability for the company. In addition, the policy improves the revenue generated by the company, thus, improves the net income. Second, the company has formulated a policy that would see the inventory levels reduced during the low-demand season. The policy will see the inventory wastage eliminated; thus, eliminate the cost related to such wastage, thus. Improve the revenue. Third, based on the cash budget for Kawasaki Ltd, the cash balance increases every month. From the cash budgets, the cash availability in the company is sufficient enough to support the company’s operations. The cash levels should be

Thursday, September 26, 2019

Brand Portfolio Project (advertising) Case Study

Brand Portfolio Project (advertising) - Case Study Example In 1964, the first year of its operation, the company sold about1300 pairs of shoes generating revenues of about $8000 dollars. The company acquired a full-time employee in 1965, with an annual turnover of close to $20000. With the increased sales volume and growth in stock, the company opened its first retail store in 3107 Pico Boulevard in Santa Monica, California in 1966. Because of the rapid growth in revenues and demand for the company’s products, the company in 1967 expanded its operations to the East Coast in Wellesley, Massachusetts. As the relationship between Blue Ribbon Sports and Onitsuka Tiger approached its final stages in the year 1971, Blue Ribbon Sports was preparing to launch its new footwear designed by Carolyn Davidson (Frisch 6). In June 1971, Blue Ribbon Sports, branded as Nike first used the Swoosh designed footwear, subsequently registering for a trademark and patents of the products. Over time, the company has grown tremendously due to the extensive us e of television advertising for their products. Getting into a number of partnerships with different individuals such as John Brown and partners and Wilden+Kennedy, the later who has remained the official advertising agency for the company, Nike has successfully managed to transform its operations from a small company to a multi-billion dollar enterprise (Google finance Web). In the fiscal year 2012, Nike managed revenues in excess of US $24.1 billion. With the increase in product quality and focus on customer satisfaction, the once small distributor of athletics wear and apparel currently has a market value of approximately $10.7 billion (Nike Inc. web). This makes Nike the biggest company in the sports and athletics brands, ahead of companies such as adidas. Nike’s Mission The company’s mission statement drives its growth and success, making it a profitable and high performing organization in the sports business. This forms the ultimate goal of its operations, gearin g its management and employees to work in an enthusiastic way. According to Nike inc. (web), the company’s mission is, â€Å"To bring inspiration and innovation to every athlete in the world.† Objectives and Strategies Although initially the company used TV as the dominant advertising strategy, in the recent past a number of strategies drives the advertising campaign of Nike. Among the most significant advertising methods forming the company’s current advertising strategy, include internet marketing, email management technologies and broadcast, methods that the company believes directly influences its target customers. The ability of the company to select reliable media to convey its messages and sell its products to the right people is the main reason for its success. Additionally, the company creatively uses these media forms to complement each other, creating a bigger impact in the market than any other sports company does. As the world started embracing adve rtising and corporations started using internet as an advertising tool, Nike too launched its website in the year 1997 in a bid to market its products. As the company took its products to the internet-advertising platform, it adopted an email management system called EchoMail that integrated its emails into one database center. In order to offer its loyal customers personalized services, the company decided to

Wednesday, September 25, 2019

Field inventory Essay Example | Topics and Well Written Essays - 1250 words - 1

Field inventory - Essay Example e of the church is captured in their website that acknowledges that visiting a new church can be quite an intimidating experience, and, therefore, it is the objective to make any visitor to feel welcomed and at home as much as possible. I had previously visited this church in 2013 and had gathered quite a considerable amount of information from those two visits. The members of the church participate in intense praise and worship sessions. The worship takes various different forms in the church and include hymns of praise, prayers sessions, conduction of praise sessions together with the accompaniment of instruments such as the guitar, tambourine. This also includes the creation of a warm and welcoming environment as done by the welcoming committee at the door that welcome the worshippers with a handshake and a warm smile. Their services start at 9.30 am each Sunday morning which are also available as podcasts for downloading and online listening. There are different types of services to serve the different age groups that exist in the church. Therefore they have different services for the adults as in the parents, the young adults and for the smaller children. The atmosphere at CCML is a very friendly one and I was constantly getting introductions to individuals that were ready to welcome me and offer their assistance in incorporating me into the church community. I had the chance of meeting a senior member of the church who has a son that works with one of the biggest firms in Saudi Arabia. We exchanged our contact information promising to assist each other if the need to do so ever arose. I started to get to know the operation of the church and its core mission within the society. The mission of the organization is phrased as knowing, growing and loving. The church’s mission is to worship together as a community made up of a group of closely knit members, who grow and obtain spiritual maturity through discipleship, and education. The mission of the Chu rch is to

Tuesday, September 24, 2019

Conflict in the school Systems Essay Example | Topics and Well Written Essays - 500 words

Conflict in the school Systems - Essay Example It is possible that parents will be ready to accept the democratic model of school education, but at the same time they will express dissatisfaction with different concrete things (Robinson, 2000). Or, on the contrary, parents may consider the main task of school education to be the development of children’s love for freedom, in the development of their personal potential, realization of their creative abilities, but the school offers the system of tough routine study. The conflict of values can occur between a teacher and school administration or between children, especially in the high school (Richmon, 2005). The conflict of values is the conflict, which can’t be resolved by any psychological means. The conflict of values is the controversy which can’t be resolved in open confrontation as every person has a right for his/her own hierarchy of values. In resolution of conflicts of values much depends on the school leaders. Some researches find the way out in values based leadership model â€Å"values and conflict will continue to remain contentious issues of challenge for administrators but the adoption of a values based leadership model could assist school leaders to succinctly define the realities of their very complex role despite the challenges. The values-based model has tremendous potential and possibilities to transform the existing face of educational administration provided it is seamlessly integrated within educational organizations to become the new standard of successful and meaningful leadership practice† (Zupan, 2012, p. 184). Certainly, the discussion of various values is necessary, but if it is impossible, the only way out is to organize the collaboration of people with the same values. It is necessary the parents should have the opportunity to appear in school where there are teachers with the same values. Teachers’ staff should also consist of people

Monday, September 23, 2019

Liberal States Essay Example | Topics and Well Written Essays - 1250 words

Liberal States - Essay Example Liberalism is a political doctrine that believes protection of freedom of citizens of any country is the main problem of a government and generally advocates for equality among all citizens. In liberal states, the support of ideas such as freedom of religion, freedom of press, fair and transparent elections and other civil rights is usually very common since the people are normally aware of their rights. Liberal states though they exhibit some variations in some political ideologies they usually exhibit a common belief on the fight for freedom and rights of their citizens. Liberalism carries a sense of international sense of prudence, which enables them to restrain from fighting with one another since they have the same system of international relations and ideologies. This kind of self-restriction among the liberal states has enabled many such states not to engage in wars since it does not seem logical for them to engage in any form of fighting and if agitated to do so they have the ability to restrain from the urge (Sandel 175). However, this sense of prudence only seems to be practical among liberal states only since when non-liberal states attack the liberal ones it has usually resulted in war. The reason advocated by the liberal states for their act of intolerance to their non-liberal counterparts is that it is prudent to attack since they are defending themselves.

Sunday, September 22, 2019

Video case Assignment Example | Topics and Well Written Essays - 500 words

Video case - Assignment Example This would enhance creation of a sales force. Secondly, Mary Kay had to come up with the right products for the Indian market. This is important for brand creation that is identified with a certain quality and value. Finally, a good infrastructure or supply chain process would be essential in order to allow the company to be profitable in the market. A good supply chain would be vital for servicing the sales force.In order for the Company to ensure that it remains profitable it had to produce products specifically and exclusively for the Indian market. They also had to work with local manufactures to ensure that they qualified in production of quality Mary Kay products. The brand building in Indian market involved product mix and pricing which involved the following four brands. The company had to keep offering simple and skin care focussed products for the sales force in India and for a new operation. Secondly, the company had to keep the products price friendly while conveying quality and value as compared to the competitors. Third, it was important to ensure that they avoided products that would phase out shortly after the launch of the company. Lastly, the company had to address the key products categories of skin care, colour based cosmetics and body care that suited the Indian market. The mentioned guidelines were important in ensuring that average middle-class consumers would be able to access the products by meeting the local needs and expectations. Additionally, affordability and value for the products was achieved, by focussing on what the market wanted. The guidelines were also important in ensuring that they maintained many months of in ventories after establishing the product in India. Indian market faces similarity with that of China in that they both have a large population. Currently, India is estimated to have a population of about 1.1 billion people with a ten year projection estimated to surpass the population

Saturday, September 21, 2019

Critical thinking Essay Example for Free

Critical thinking Essay Before reading this article, what was your answer to the question â€Å"Who’s American?† How did you develop this concept of being an American? If you or your parents were born in another country, how would you define the National identity of that Country? (For example, what does it mean to be Dominican or Chinese?) When I first seen the question who’s American my answer was that the American culture is primarily western or any one born in the United States of America. My parents and I were born in the United States of America. How I developed this concept was from the way I was raised because I was born in the United States and I was always told your American. To be Dominican means that you was born to parents in the Republic. To be Chinese means that you was born to parents that are Chinese. How can the concept of a National identity both unite and divide people? Concepts of National identity can divide and unite people by providing conflicted opinions. Opinions serve as ways to unite people by providing sense of commonality. Opinions can also diverse set of ideals that cause conflict and division. After reflecting on these issues via this article, these questions, and class discussions, has your concept of what it means to be American changed? If so in what ways? I would have to say after I looked at all these issues and article and class discussions my concept hasn’t changed. But I have learned more about what it means to be American. But for myself I don’t look or judge people for where they are from whether they are American or whatever Nationality.

Friday, September 20, 2019

Overview of india real estate

Overview of india real estate India Real Estate is the second largest industry next only to agriculture in terms of the contribution it makes to the gross domestic product (GDP) and the employment generation. Moreover, its share of contribution to the countrys GDP is expected to increase only in the years to come. The GDP contribution of this sector at current prices is approx. 6.5% or Rs.1, 37,000 crores i.e., over 30 billion US dollars. Similarly the commercial property market has compounded annual growth rate of over 30% during the last 5 years across major cities in India along with a phenomenal increase in demand for office space. To be more precise, the next five years will see a rise of six percent from its present share of five percent contributed towards the GDP.   The size in terms of total economic value of real estate development activity of the Indian real estate market is currently US$40-45bn (5-6% of GDP) of which residential forms the major chunk with 90-95% of the market, commercial segment is distant second with 4-5% of the market and organized retail with 1% of the market. Over next five years, Indian real estate market is expected to grow at a CAGR of 20%, driven by 18-19% growth in residential real estate, 55-60% in retail real estate, and 20-22% in commercial real estate. According to a report, India is one among the four countries (the other three being Brazil, Russia and China) that are likely to achieve a much faster growth rate in the domain of property development and housing construction activities as compared to the UK and US real estate markets. The BRIC report, as it is called, has also projected a higher real estate investment over a period of the next five years. The forecast for the year 2010 has put a significant portion of the Foreign Direct Investment (FDI) towards investment in the Indian real estate market.   With around 1.1 billion people, India is the second most populous country after China and it is expected to overtake it by 2030. Its economic transformation over the past decade has pushed up real GDP growth to an average of 6 per cent per annum since1992. India is emerging as an important business location, particularly in the services sector. Its favourable demographics and strong economic growth make the country an attractive place for property investors, given that demand for property is determined chiefly by business development and demographic trends. Historically, the real estate sector in India was unorganised and characterized by various factors that impeded organised dealing, such as the absence of a centralized title registry providing title guarantee, lack of uniformity in local laws and their application, no availability of bank financing, high interest rates and transfer taxes, and the lack of transparency in transaction values. In recent years however, the real estate sector in India has exhibited a trend towards greater organisation and transparency, accompanied by various regulatory reforms. These reforms include: à ¢Ã¢â€š ¬Ã‚ ¢ Government of India support to the repeal of the Urban Land Ceiling Act, with nine state governments having already repealed the Act; à ¢Ã¢â€š ¬Ã‚ ¢ Modifications in the Rent Control Act to provide greater protection to homeowners wishing to rent out their properties; à ¢Ã¢â€š ¬Ã‚ ¢ Rationalization of property taxes in a number of states; and à ¢Ã¢â€š ¬Ã‚ ¢ The proposed computerization of land records The trend towards greater organisation and transparency has contributed to the development of reliable indicators of value and the organised investment in the real estate sector by domestic and international financial institutions, and has also resulted in the greater availability of financing for real estate developers. Regulatory changes permitting foreign investment are expected to further increase investment in the Indian real estate sector. The nature of demand is also changing, with heightened consumer expectations that are influenced by higher disposable incomes, increased globalization and the introduction of new real estate products and services. Demand Drivers These trends have benefited from the substantial recent growth in the Indian economy, which has stimulated demand for land and developed real estate across the real estate industry. Demand for residential, commercial and retail real estate is rising throughout India, accompanied by increased demand for hotel accommodation and improved infrastructure. Additionally, the tax and other benefits applicable to Seas are expected to result in a new source of real estate demand. The real estate industry is one of the fastest growing industries in our economy, with a Compound Annual Growth Rate of approximately 30%.(Ernst and Young) A US$ 16 billion industry at present, it is expected to touch US$ 60 billion in the next five years. (Ernst and Young) The sustainability of growth in the real estate industry has its roots in strong demand fundamentals: a. Rapid expansion of the IT/ ITES and business outsourcing industry (including knowledge process outsourcing and clinical testing outsourcing); b. Rising demand in the residential sector, encouraged by rapidly increasing income levels; c. Acceptance of shopping malls as one stop destinations for consumers; and d. Growing popularity of Special Economic Zones as preferred destinations for both manufacturing and service industries. Source: CMIE Industry Reports There is an estimated requirement of 80 million housing units over the next Fifteen years and 200 million sq. ft. of office space over the next five years. With a view to catalyzing the investment required to plug the aforementioned Supply deficits, the Government, has allowed FDI up to 100% under the automatic route in specified real estate development projects, including but not restricted to townships, built-up infrastructure and construction development projects. The investment is permitted subject to compliance with the following guidelines specified in Press Note 2 (2005): Minimum area to be developed under each project would be as under: i. In case of development of serviced housing plots, a minimum land area of 10 hectares. ii. In case of construction-development projects, a minimum built-up area of 50 ,000 sq.mts. iii. In case of a combination project, anyone of the above two conditions would suffice. The investment would further be subject to the following conditions: i. Minimum capitalization of US$ 10 million for wholly owned subsidiaries and US$ 5 million for joint ventures with Indian partners. The funds would have to be brought in within six months of commencement of business of the Company. ii. Original investment cannot be repatriated before a period of three years from completion of minimum capitalization. However, the investor may be permitted to exit earlier with prior approval of the Government through the FIPS. c. At least 50% of the project must be developed within a period of five years from the date of obtaining all statutory clearances. The investor would not be permitted to sell undeveloped plots. Source: Department of Industrial Policy Promotion Press Note 2 (2005) In December 2007, SEBI, the domestic stock market regulator, issued draft regulations clearing the way for introduction of Real Estate Investment Trusts (REITs) in India. This move is also expected to favourably serve the booming property market, by serving as an alternative source for meeting the capital needs of the sector, particularly for builders who otherwise work with internal accruals and high-cost borrowings. Dewan P.N. Chopra Consultants Private Limited Initial Public Offerings have become another popular theme as a means of raising requisite capital in the real estate industry. This has resulted in the creation of a robust marketplace where retail investors can participate in the growth story while also offering ability for promoters and investors to project forward into yet another exit strategy. As a result of the aforementioned stimuli, this industry has been receiving increasing focus from the private equity sector, with PE investments in this industry as a percentage of total PE investments soaring from 14% in 2005-06 to over 32% in 2006-07. (KPMG) It is estimated that more than US$ 5 billion in foreign funds was invested in projects sponsored by rapidly growing developers in 2007. The significant development potential of the real estate industry, coupled with favourable FDI regulations and increasing focus from the private equity sector, has created substantial investment opportunities for real estate companies. As at December 2007, total outstanding investment in 1,885 real estate development projects was US$ 195 billion. (CMIE Industry Reports) As this rapidly growing industry matures into a stable and sustainable economic sector, three key trends, which are likely to shape its future, are emerging: a. Increased focus on execution risks; b. Increased investments in mixed-use development projects with a view to extracting maximum synergic benefits; and c. Syndication among real estate developers on execution of big-ticket development projects, i.e. shift from competition to partnership. Advantage India Why Invest In Indian Real Estate? Flying high on the wings of booming real estate, property in India has become a dream for every potential investor looking forward to dig profits. All are eyeing Indian property market for a wide variety of reasons: Its ever growing economy which is on a continuous rise with 8.1 percent increase witnessed in the last financial year. The boom in economy increases purchasing power of its people and creates demand for real estate sector. India is going to produce an estimated 2 million new graduates from various Indian universities during this year, creating demand for 100 million square feet of office and industrial space. Presence of a large number of Fortune 500 and other reputed companies will attract more companies to initiate their operational bases in India thus creating more demand for corporate space. Real estate investments in India  yield huge dividends. 70 percent of foreign investors in India are making profits and another 12 percent are breaking even. Apart from IT, ITES and Business Process Outsourcing (BPO) India has shown its expertise in sectors like auto-components, chemicals, apparels, pharmaceuticals and jewellery where it can match the best in the world. These positive attributes of India is definitely going to attract more foreign investors in the near future. The relaxed FDI rules implemented by India last year has invited more foreign investors and real estate in India is seemingly the most lucrative ground at present. The revised investor friendly policies allowed foreigners to own property, and dropped the minimum size for housing estates built with foreign capital to 25 acres (10 hectares) from 100 acres (40 hectares). With this sudden change in investment policies, the overseas firms can now put up commercial buildings as long as the projects surpass 50,000 square meters (538,200 square feet) of floor space. Indian real estate sector is on boom and this is the right time to invest in property in India to reap the highest rewards. The strong fundamentals of the Indian economy are having a favourable impact on all asset classes of Indian real estate viz. housing, commercial office space and retail and hospitality. In recent years, the growth has spread out to tier-II and III cities as well. High growth in services as well as manufacturing sector has resulted in high demand for commercial and industrial real estate. Further the economic growth has trickled down to the large Indian middle class increasing affordability and affluence. Improving living standards are driving the demand for better quality housing and urban infrastructure. In fact, housing in India is today moving from being viewed as a purely basic need to an aspiration purchase. Though high interest rates coupled with soaring property prices have temporarily impacted affordability of home buyers the demand-supply mismatch and low home loans to GDP ratio in India (a meagre 5 per cent as against more than 50 per cent in US, UK and Germany) are expect ed to fuel demand for housing in the medium long run. The growth of the sector has been complemented by favourable policy changes like liberalisation of Foreign Direct Investment (FDI) guidelines and significant increase in investment on physical infrastructure. The recent times have also witnessed an evolution of the sector towards greater institutionalisation and corporatisation. With the entry of global players, inflow of foreign capital, evolution of capital markets, geographical diversification and introduction of reforms, the sector has undergone some significant structural changes. Even critical concern areas like transparency in the sector is also improving significantly. The trend is expected to continue in the coming years. Advantage India key points The Indian real estate industry is expected to reach a size of US$ 180 billion by 2020. High growth in the services sector -telecom, financial services, IT ITeS, etc. Growing penetration of mortgage finance into the urban housing finance market. There is a growing demand for affordable housing and high rate of urbanisation. The real estate sector in India is on a rapid growth trajectory. Over a short span of time, the industry has evolved from a highly fragmented and unorganised market into a semi-organised market, with a large number of listed companies. The Indian Government and private developers, realising the growing demand for affordable housing, are strongly focussing on affordable housing. The Government of India has well-drafted regulations for the Indian real estate sector. Market Overview-

Thursday, September 19, 2019

Black Boy :: essays research papers

Childhood is a time of sunny days. Sweet breezes blow friendly cloud shapes across the deep blue sky. The days are never-ending-joy—a black canvas to paint with beautiful memories - - unless your childhood was Richard Wright’s. His youth was a cold bleak existence, carved with hatred and overlaid with hunger. There seemed to be little hope for one born to such a lot. For it was not to the caring bosom of his family that Richard could turn. And the hard, unfeeling eyes of the world were turned away from him. It was a great feat that could struggle through life’s battles with his conscience unscathed. It was his experience that provided the color which enhanced the sketch of his personality he was given at birth. Richard’s family despaired of him. They believed him to only be on the wide path go hell as was evidence by the family confrontations Richard constantly found himself in. There was the time Aunt Addie punished an innocent Richard in school, and the fight raged on even once they were home. After pulling a knife on her and being thrown to the floor, eternal hate was born between the two relatives. He believed him to be devilish and would have nothing to do with him while Richard regarded her with untarnished enmity. He also fought with Uncle Tom. Richard pulled razor blades on Uncle because he was gong to be beaten for an unknown reason. This event constructed an impenetrable wall between the two that was never to come down. It was here Richard learned not to trust. For who would offer kindness towards him if family members did not. And finally, Richard fought with Granny over working on the Sabbath . She did not understand what he needed, reasoned Richard. That boy is a hopeles s case, felt Granny. They completely misunderstood one another, and each one’s pride was too great to do anything about the damaged relationship. So between Aunt Addie, Uncle Tom, and Granny, Richard existed in a place of hard and in indifferent stares which would cause him to search for brighter colors elsewhere. He first turned to the streets. He found no solace there but rather a malice between races that surpassed the hostility at home. He saw this when he was he was bitten by the brickyard owner’s dog. The man cared nothing for Richard and didn’t care if he lived or died because all blacks were trash in the white man’s eyes.

Wednesday, September 18, 2019

Constitutional Democracy Essay -- essays research papers

Constitutional Democracy The basic premise of a constitutional democracy is that government has rules and all of the people have voices. Through free and fair elections we elect candidates to represent us. The Constitution of the United States guarantees us the right to do this, and to live democratically. The framers attacked tyrannical government and advanced the following ideas: that government comes from below, not from above, and that it derives its powers from the consent of the governed; that men have certain natural, inalienable rights; that it is wise and feasible to distribute and balance powers within government, giving local powers to local governments, and general powers to the national government; that men are born equal and should be treated as equal before the law. The framers of the U. S. Constitution sought to make these ideas the governing principles of a nation. Constitutional democracy has three basic elements. Those being interacting values, interrelated political processes and interdependent political structures. The first idea of interacting values is popular consent. Popular consent means that government must obtain consent for its actions from the people it governs. It is similar to majority rule, a political process, in that the most popular acts or ideas of the people will be adopted by our government. There must be an allowance or willingness on behalf of the unpopular group to lose. Popular consent may provide a means for judging parental consent laws for minors seeking abortion. Since minors are not legally allowed to be competent to engage in sex, to enter into contracts, or to form sufficient "informed consent" to agree to their own medical treatment, it is incredible that they would be regarded as competent to make a life and death decision about something that later in life they might themselves regard as a real person, with individual rights Drawing on several major contributions of the enlightenment, including the political theory of John Locke and the economic ideas of Adam Smith, individualism posts the individual human being as the basic unit out of which all larger social groups are constructed and grants priority to his or her rights and interests over those of the state or social group... ...ve powers of the president likewise were proscribed in a number of places by designated responsibilities. The judicial power was to be wielded by judges. Explicit jurisdiction of the courts was subject to congressional definition. Checks and balances are the constitutional controls whereby separate branches of government have limiting powers over each other so that no branch will become supreme. Perhaps the best known system of checks and balances operates in the U.S. government under provisions of the federal constitution. The operation of checks and balances in the federal government is spelled out in the Constitution. The Constitution of the United States has afforded us many rights. At times, those rights are in contention. At others, we would be in anarchy without them. Constitutional democracy is a beautiful thing. Although we may not all have the same amount of wealth, we have the liberty to. We have the right to be heard. And how is this right anymore exemplified than voting? Our representatives will do what we want, and if they don't give us a couple of years and we'll find someone else who will promise to. AMEN.

Tuesday, September 17, 2019

Change over Time: Christianity’s Impact on Europe Essay

Change Over Time: Christianitys Impact on Europe Christianity had spread its influence widely over the Mediterranean well before 1500. Many of the world’s major religions rose during the same time as Christianity, but Christianity didn’t stand out during those times. There were other religions such as Islam and Hinduism that were uniting their people more and contributing more to the world than Christianity was. The development of the Renaissance in Italy and the spreading of the Renaissance made Christianity a lot more popular. The period from 500 to 1700 marked a huge opportunity for Christianity, and the religion took advantage of that and left its mark on Europe. Although some cultural aspects remained the same and Christianity remained the dominant religion in Europe from 1500 to 1700, a lot of other cultural aspects, economics, and political characteristics changed due to Christianitys impact. Christianity continued to dominate Europe through the Renaissance period with little shifting to other religions; Christianity stayed pretty much the same, aside from differences in Catholic and Protestant groups. Christianity remained a monotheistic religion, meaning that its followers believe in one god. Not only did this religion remain a major influence for the ordinary people of Europe, but it also influenced the artists and authors coming into the Renaissance. Christianity continued to be a huge source of power for the Pope and other religious leaders during this time; religion, essentially, gave these leaders more control and power. These leaders set up churches all across their areas in Europe, which continued to spread the influence of Christianity even more. Christianity remained a uniting source for the people which, in turn, led to making Europe a very rich and powerful force. Christianity remained a powerful force in Europe because a lot of the religious leaders were looking at continuing older Roman legacies. Even though Christianity developed after the fall of the Roman Empire, the Roman Catholic Church makes the claim of apostolic succession; they claim a unique authority over all other churches because they claim they have a common heritage with Roman Catholic Popes centuries before. Because of historical significance and the need of wanting to bring back older Roman and Byzantine religious traditions, Christianity was able to continue to dominate Europe through the influence of the church during 1500 to 1700. With so much power, different aspects of life in Europe wouldn’t remain the same. Because Christianity continued to remain the major source for power and influence in Europe, economic, political, and cultural changes were inevitable. Change over Time: Christianity’s Impact on Europe By amirlikecrazy

Monday, September 16, 2019

Literary Tools of a Writer

The world is full of writers of all kinds: novelists, biographers, copy writers, and even floggers. Every so often, one of those writers will rise above the rest and become a great author?but what exactly does that take? Many qualities have to come together in one person to make his or her writing great, so having the idea for a story alone is not enough; great writers also have to possess talent and originality as well as the dedication required to see a story through to the end.Anyone can tell a story, but it takes special talent to tell a story beautifully and engagingly. As a reader, my favorite stories are always the ones that draw me in with descriptive language, imagery, and metaphors used skillfully by the authors. One example is F. Scott Fitzgerald The Great Gatsby, which I loved reading because of Fitzgerald talent for using literary devices.In one chapter, he describes a valley full of ashes, but instead of simply calling it what it is, Fitzgerald creates a much more inter esting and inspiring description: â€Å"This is a valley of ashes?a fantastic farm where ashes grow like wheat into ridges and hills and grotesque gardens; where she take the forms of houses and chimneys and rising smoke and, finally, with a transcendent effort, of ash-gray men who move dimly and already crumbling through the powdery air† (23).Rather than Just telling you that the valley is full of ashes, Fitzgerald shows you with his words, creating images in your mind of a gray, ashy valley through his expert use of metaphors and similes. This mastery of figurative language is one of the most important parts of being a great writer, because it is what separates a simple story, like one that you would tell from day to day, from a literary masterpiece.

Sunday, September 15, 2019

Clothing and Uniforms School Uniforms Essay

School uniforms are a set of standardized clothes worn primarily for an educational purpose. Uniforms can range from formal to informal. The most popular uniforms include khakis and polo shirts of varying colors. Wearing school uniforms can reduce issues related to students wearing inappropriate clothing. Students are less likely to be ridiculed by others due to the kind of clothes they wear. Uniforms are cost effective and are less expensive than street clothes and wearing uniforms are a positive way to bridge the gap between social classes. We live in a society where appearance is everything which makes kids feel pressured to fit in and dress a certain way. Money plays a big part in the clothing students wear. Not all styles are affordable to everyone. Some students are criticized because they cannot afford the â€Å"name brand† clothes. This makes parents feel pressured to purchase the popular and more expensive clothing just so there kids â€Å"fit in. † Some students may even feel the need to steal to get the â€Å"in† clothes. The average cost of a year’s worth of school uniforms is approximately $200 which is a lot less than name brand clothing. Uniforms can help reduce peer bullying and criticism, since all students are wearing the same thing. It also reduces stress and conflict to look a certain way. The great thing about uniforms are they can be worn for more than one year (if they still fit), making them even more cost effective and less expensive than regular clothes. There are many styles of clothes, some that are appropriate to wear to school and others that are not. Students are influenced by the clothing styles they see on television as well as the styles worn by their mentors and idols. Violence and stereo-typing are big concerns for schools. Clothes play a factor in what people who are part of a gang wear. These gang members wear specific clothing to identify themselves and express their power as well as separate them from other gangs. Uniforms could help cut-down the growth rate of these gangs as they would be harder to recognize which could lead to less interest in them. Generally, uniforms are navy or white shirts and navy or khaki pants. These are pretty neutral colors that are not distracting. More than likely, they are colors a lot of students would where anyway. A lot of the popular styles are navy and khaki, which make uniforms more stylish. Many people think wearing uniforms are uncomfortable and boring. However, uniforms actually unite the school as a whole and promote a team atmosphere. Placing less emphasis on clothes will only increase the entire academic outcome. Wearing school uniforms can benefit students academically, financially, and socially. A person should not be defined by their clothes but by who they are as an individual. I think it would benefit all schools to have a school uniform.

Probability Theory and Mathematical Systems Probability

Mathematical Systems Probability Solutions by Bracket A First Course in Probability Chapter 4—Problems 4. Five men and 5 women are ranked according to their scores on an examination. Assume that no two scores are alike and all 10! possible rankings are equally likely. Let X denote the highest ranking achieved by a woman (for instance, X = 1 if the top-ranked person is female). Find P X = i , i = 1, 2, 3, . . . , 8, 9, 10. Let Ei be the event that the the ith scorer is female. Then the event X = i correspdonds to the cc event E1 E2  ·  ·  · Ei . It follows that ccP X = i = P (E1 E2  ·  ·  · Ei ) . c c c c c = P (E1 )P (E2 |E1 )  ·  ·  · P (Ei |E1  ·  ·  · Ei? 1 ) Thus we have P X=i i 1/ 1 2 5/ 2 18 5/ 3 36 5/ 4 84 5/ 5 252 1/ 6 252 0. 7, 8, 9, 10 12. In the game of Two-Finger Morra, 2 players show 1 or 2 ? ngers and simultaneously guess the number of ? ngers their opponent will show. If only one of the players guesses correctly, he wins an amount (in dol lars) equal to the sum of the ? ngers shown by him and his opponent. If both players guess correctly or if neither players guess correctly, then no money is exchanged. Consider a speci? d player and denote by X the amount of money he wins in a single game of Two-Finger Morra. a. If each player acts independently of the other, and if each player makes his choice of the number of ? ngers he will hold up and the number he will guess that his opponent will hold up in such a way that each of the 4 possibilities is equally likely, what are the possible values of X and what are their associated probabilities? A given player can only win 0,  ±2,  ±3, or  ±4 dollars. Consider two players A and B , and let X denote player A’s winnings. Let Aij denote the event that player A shows i ? gers and guesses j , and de? ne Bij similarly for player B. 1 We have P X = 2 = P (A11 B12 ) = P (A11 )P (B12 ) = 1  · 1 = 16 , since we have assumed that 44 1 Aij and Bij are independent and that P (Aij ) = P (Bij ) = 4 . Similarly, we have P X = 3 = 1 1 1 P (A12 B22 ? A21 B11 ) = 16 + 16 = 1 and P X = 4 = P (A22 B21 ) = 16 . Note that the situation 8 1 is completely symmetric for player B, so the we have P X = ? 2 = P X = ? 4 = 16 and 1 P X = ? 3 = 1 . Finally, we have P X = 0 = 1 ? P X = 0 = 1 ? 1 = 2 . 8 2 b. Suppose that each player acts independently of the other.If each player decides to hold up the same number of ? ngers that he guesses his opponent will hold up, and if each player is equally likely to hold up 1 or 2 ? ngers, what are the possible values of X and their associated probabilities? Neither player can win any money in this scenario. If player A shows 1 ? nger and guesses B will show 1 ? nger, then A can only win if B shows 1 ? nger. But if B shows 1 ? nger, then B will guess that A will show 1 ? nger, and thus neither player will win. The same holds for when A shows 2 ? ngers and guesses that B will show 2 ? ngers. Thus, we have P X = 0 = 1. Mathematical S ystems Probability 20. A gambling book recommends the following â€Å"winning strategy† for the game of roulette. It recommends 18 that the gambler bet $1 on red. If red appears (which has probability 38 ), then the gambler should take her $1 pro? t and quit. If the gambler loses this bet (which has probability 20 of occurring), she should 38 make additional $1 bets on red on each of the next two spins of the roulette wheel and then quit. Let X denote the gambler’s winnings when she quits. a. Find P X > 0 . Note that X only takes on the values ? 3, ? 1, and 1. Thus P X>0 =P X=1 P (she wins immediately or she loses and then wins the next two) = P (she wins immediately) + P (she loses and then wins the next two) 18 20 18 18 = +  ·  · ? . 592 38 38 38 38 b. Are you convinced that the winning strategy is indeed a â€Å"winning† strategy? Explain your answer! The expected value of X is negative (? ?. 108), which is accounted for by the fact that although the gamb ler has a high probability of winning $1, she could also lose $3, and the probability of this occuring is not low enough to make the game worth playing in the long run. 21. A total of 4 buses carrying 148 students form the same school arrives at a football stadium.The buses carry, respectively, 40, 33, 25, and 50 students. One of the students is randomly selected. Let X denote the number of students that were on the bus carrying this randomly selected student. One of the 4 bus drivers is also randomly selected. Let Y denote the number of students on her bus. a. Which of E [X ] or E [Y ] do you think is bigger? Why? We should expect E [X ] to be larger since it’s the per-student average rather than the per-bus average, just as the per-student average class size was larger than the per-class average class size (from the example in class). b.Compute E [X ] and E [Y ]. We have 33 40 50 25  · 25 +  · 33 +  · 40 +  · 50 ? 39. 28 148 148 148 148 1 1 1 1 E [Y ] =  · 25 +  · 33 +  · 40 +  · 50 = 37 4 4 4 4 E [X ] = 27. An insurance company writes a policy to the e? ect that an amount of money A must be paid if some event E occurs within a year. If the company estimates that E will occur within a year with probability p, what should it charge the customer in order that its expected pro? t will be 10 percent of A? Let X be denote the company’s pro? t at the end of the year, and w be the amount that the customer is charged. The company’s pro? is w if E does not occur within the year, and w ? A if E does occur within the year. Thus P X = w = (1 ? p) and P X = w ? A = p. Therefore E [X ] = w(1 ? p) + (w ? A)p = w ? Ap. We set E [X ] = . 1A to obtain w = A(p + . 1). 2 Mathematical Systems Probability 31. Each night di? erent meteorologists give us us the probability that it will rain the next day. To judge how well these people predict, we will score each of them as follows: If a meteorologist says that it will rain with probability p, th en he or she will receive a score of 1 ? (1 ? p)2 if it does rain, 1 ? p2 if it does not rain.We will then keep track of scores over a certain time span and conclude that the meteorologist with the highest average score is the best predictor of weather. Suppose now that a given meteorologist is aware of this and wants to maximize his or her expected score. If this person truly believes that it will rain tomorrow with probability p? , what value of p should he or she assert so as to maximize the expected score? Let X be the score that the meteorologist receives, given that she has asserted that it will rain tomorrow with probability p. Then P X = [1 ? (1 ? p)2 ] = p? and P X = (1 ? p2 ) = (1 ? ? ). It follows that E [X ] = [1 ? (1 ? p)2 ]p? + (1 ? p2 )(1 ? p? ), which we rearrange and write as a function of p to obtain E [X ] = f (p) = ? p2 + 2p? p + 1 ? p? . We di? erentiate with respect to p to obtain f (p) = ? 2p + 2p? , which clearly has a zero at p = p? . It is straightforward t o verify that f has a maximum at this zero, so the meteorologist should assert p = p? as the probability that it will rain tomorrow. 41. A man claims to have extrasensory perception. As a test, a fair coin is ? ipped 10 times, and the man is asked to predict the outcome in advance. He gets 7 out of 10 correct.What is the probability that he would have done at least this well if he had no ESP? If the man were just guessing, then on each ? ip he would have probability p = 1 of getting the 2 correct answer. Let X be the number of correct guesses out of a sequence of 10 coin ? ips, and we can see that X is a binomial random variable with parameters 10 and 1 . Thus P X ? 7 = 2 10 10 1 i 1 10? i 11 (2) (2) = 64 . i=7 i 51. The expected number of typographical errors on a page of a certain magazine is . 2. What is the probability that the next page you read contains (a)0 and (b)2 or more typographical errors?Explain your reasoning. Let X be the number of typographical errors on a page of a magazine. Then X is a Poisson random variable with parameter ? = E [X ] = . 2. We then have P X = 0 = e?. 2 ? .819 and P X ? 2 = 1 ? P X < 2 = 1 ? P X = 0 ? P X = 1 = 1 ? e?. 2 ? .2e?. 2 ? .0175. 57. Suppose that the number of accidents occurring on a highway each day is a Poisson random variable with parameter ? = 3. a. Find the probability that 3 or more accidents occur today. Let X denote the number of accidents on the stretch of road. Then P X ? 3 = 1 ? P X < 3 = 1 ? e? 3 ? 3e? 3 ? 9 e? 3 ? .577. 2 b.Repeat part (a) under the assumption that at least 1 accident occurs today. Note that that the event â€Å"there are three or more accidents today,† is a subset of the event â€Å"there is at least one accident today,† and thus the intersection of the two is just the former. It follows that P X? 3 1 ? e? 3 ? 3e? 3 ? 9 e? 3 2 P X ? 3|X ? 1 = = ? . 607. 1 ? e? 3 P X? 1 3 Mathematical Systems Probability 63. People enter a gambling casino at a rate of 1 for every 2 minut es. a. What is the probability that no one enters between 12:00 and 12:05? If X is the number of people entering within the 5 minute interval, then X is a Poisson random 5 variable with parameter ? = 2  · 5. Thus, P X = 0 = e? 2 ? .082. b. What is the probability that at least 4 people enter the casino during that time? Using the same random variable as above, we have 5 55 25 ? 5 125 ? 5 e 2? e 2 ? .242 P X ? 4 = 1 ? e? 2 ? e? 2 ? 2 4  · 2! 8  · 3! 68. In response to an attack of ten missiles, ? ve hundred antiballistic missiles are launched. The missile targets of the antiballistic missiles are independent, with each being equally likely to go towards any of the missiles. If each antiballistic missile independently hits its target with probability . , use the Poisson paradigm to approximate the probability that all missiles are hit. Consider one particular missile M . A particular antiballistic missile A selects M as its target with probability . 1, and if A selects M then it has probability . 1 of hitting it. Hence any such A will hit M with probability (. 1)(. 1) = . 01. Then the likely number of times M gets hit is roughly 500(. 01) = 5. Hence by the Poisson paradigm, if X is M ’s likely number of hits then X is a Poisson(5) variable. Thus the probability that M is hit is P X > 0 = 1 ? P X = 0 = 1 ? e? 5 .There are 10 missiles, so the probability that all of them are hit is then roughly (1 ? e? 5 )10 . 71. Consider a roulette wheel consisting of 38 numbers—1 through 36, 0, and double 0. If Smith always bets that the outcome will be one of the numbers 1 through 12, what is the probability that a. Smith will lose his ? rst 5 bets; Since Smith will lose with probability 26 38 , we will lose his ? rst 5 bets with probability ( 13 )5 ? .15. 19 b. his ? rst win will occur on his 4th bet? Note that this is a geometric random variable with parameter p = 12 (or alternatively, a negative 38 inomial random variable with parameters p = 12 and r = 1 ). Smith’s ? rst win will occur on his 38 13 6 4th bet with probabiltity ( 19 )3  · 19 ? .101. 75. A fair coin is continually ? ipped until heads appears for the tenth time. Let X denote the number of tails that occur. Compute the probability mass function of X . Let Y be a negative binomial random variable with parameters p = 1 and r = 10. An appropriate 2 sequence with n tails in it must contain n + 10 ? ips in it total, and thus n+10 (n + 10) ? 1 r n+9 1 P X = n = P Y = n + 10 = p (1 ? p)(n+10)? r = 2 r? 1 9 4

Saturday, September 14, 2019

Ways to Discipline

There are many simple ways that parents can help encourage their child’s development from an early age. Learning how to effectively discipline your child is an important skill that all parents need to learn. â€Å"To get what we want in life, we have to do what we have never done.† (Derrick 25). Whether the parent is traditional, a stay home parent, or a fulltime worker, the most precious thing a parent can give his or her kids is their time. Here are some ways to discipline, educate, and spend quality time with your children. It is very important to educate your child to succeed. First of all, build up their confidence and ensure that they are happy children. Fuel their imagination by reading bedtime stories. Roy Derrick’s research found that children who are regularly told stories have a better vocabulary, have more idea of sentence structure, and sense of stories (126). Also, nurture their creative skills through play. Some activities can help; like building with plastic bricks, painting, or simply creating items can help a child to build up their confidence. Here are some ways to discipline your children. Avoid physical punishment; it can make your child more aggressive and angry. Also, remember to always give rewards and praise them for good behavior, that way they will know you are happy when they behave well. â€Å"Because of their size, children may be difficult to discipline properly† (Rourke 38). Most importantly, provide your child with a safe environment in which they feel secure and loved. Discipline means to teach and train children family values, right from wrong, to respect the rights of others, and how they are to behave or not behave. Discipline is a positive parenting skill that emphasizes nurturing, guidance, teaching and training that builds a child’s self-confidence and teaches self-control and behavior management. The better you are with discipline, the less you will have to punish (Lin 45) Try to spend some quality time with your kids. Most parents work all day and do not give their child the time they deserve. There are many easy ways to be there with them, like helping them with homework. Make it fun and interesting for them. Plan a picnic, kids love to be outdoor where there is food, games, and they enjoy spending time with family and friends. â€Å"Your children need your presence more than anything else†¦Ã¢â‚¬  (Jackson 42). Growing a garden with your child is also interesting and different from other activities, but they will enjoy getting their hands dirty and being accompanied by you. In conclusion, spending quality time with your kids helps both the parent and child to be more open with one another. Also, educating your child to succeed from the early age, will be an advantage for them in the future. Last of all, to discipline your children with the correct manners, it is important for them and yourself as a parent. Remember to always be there for them when they need you, and you will be a great parent.

Friday, September 13, 2019

The rise of the Indian and Chinese economies. prospects and potentials Essay

The rise of the Indian and Chinese economies. prospects and potentials - Essay Example In this paper prospects of these two future economic giants will be discussed along side with their potential to grow. The many factors that make these two countries future contenders for economic supremacy will also be elaborated. Immediately after the 1949 revolution the economic policies of China were set aiming at lowering consumption and increasing the process of industrialization. With lower expenditure the economy was able to make more and more factories. In 1978 agricultural sector was reformed and private sector was also allowed to function for the first time in China. These economic policies are said to be the major contributor towards the success of Chinese economy. The process of privatization in China has also increased the overall economic activity of the country. The story of India is not very different China. After independence Indian economy was characterized by extremely protectionist policy. But the policy of liberalization took effect in 1990’s and after that the economy has shown great prospect. Experts name India as the next big economic giant after China. The growth that India has taken in the last decade of 20th century and in the early 21st century is amazing. The rapid industrialization taking place in the two countries have made their economies so strong that there future is prosperous. The potential of the two countries is great. China is the world’s largest exporter. Its growth in the previous 30 years has been 9.5 percent. India is also known as the second largest growing economy of the world. So the prospects are great for the two economies. Chinese economy actually benefits from it exports. China imports great quantity of goods and after value addition exports at higher profits. It relies on small profit margins and for this reason it is able to export at low prices. This is something which distinguishes China from other economies. China is able to develop industries for which

Thursday, September 12, 2019

TELUS company Research Paper Example | Topics and Well Written Essays - 750 words

TELUS company - Research Paper Example This paper gives a detailed case analysis of TELUS Corporation and describes its current financial status. Keywords: telecommunication industry, competitive advantage, business strategy TELUS Case Analysis The telecommunication industry is viewed as being highly dynamic and is characterized by ever growing competition. The communication industry has gone through a revolution from the postage of hand written letters, to telephone communication and to mass communication through wireless gadgets and the internet (Rens, 2001). TELUS Corporation is one of the key telecommunication companies competing in the global market for customers’ usage and advancing communication technology. The company focuses on more than the telephone services by allowing use of IP, data, voice and wireless technology to provide their customers with fast, convergent, efficient and convergent solutions. The company was started in Alberta in 1990 and entered into a merger with BCTel in 1999. Currently, the c orporation provides services in entertainment, internet, video, satellite, internet access and voice services. The corporation is considered to be the third largest telecommunication operator in Canada having approximately 7 million customers. The company’s major competition comes from Roger with over 8 million users and Bell with slightly over 7 million users. In 2010, the company posted annual revenue of over 9 billion dollars (TELUS Corporation). The condition of the industry environment is favorable since the number of wireless subscribers in the Canadian market is fast growing and has a medium level penetration. The 21st century has presented the corporation with new challenges which have had an impact on its financial status. The major challenge facing the company is the high level of competition that is experienced in the telecommunication industry (Aburdene, 2007). It can be observed that although the company is among the largest mobile operators in Canada, it takes u p the lowest market share. Rogers has 36 percent, Bell has 29 percent while TELUS has 28 percent. Recent studies have found out that the company’s market share is affected by three major aspects. First, the brand awareness of the company’s products and services is relatively lower in comparison to the other two key players. Secondly, their variation strategy is poor and fails to yield the desired results. Finally, the company’s average price is higher, for example it is 38 percent higher than Bell’s and 7.58 percent higher than Rogers’. The company faces increased competition as it operates in the deregulated market place. The competition does not only arise from the giant telecommunication company but also from emerging companies that provide improved services such as the IP telephone (Aburdene, 2007). Here, the greatest challenge is holding on to their market share and remaining at the top of all market segments. The competition in the market has been intensified by dynamic customer needs and high levels of consumer sovereignty. Consumers can easily switch their good and service providers in the telecommunication industry depending on their tastes and preferences (Aburdene, 2007). The company is advised to adopt the use of the latest technology in order to satisfy needs of the customers and to compete

Wednesday, September 11, 2019

The Cost of Illegal Immigrants in Texas Research Paper

The Cost of Illegal Immigrants in Texas - Research Paper Example This quote is an extract from the Dallas Morning News, which examined the financial effects of the illegal immigrants in Texas. This calculation was done on behalf of the millions of taxpayers who were paying heavily in tax dollars for the presence of illegal immigrants residing in the state. The reason why this problem is especially prominent in Texas as opposed to the other forty-nine states of America is that this state is situated in the very south of the country. Due to its location, it is very near to Mexico, and thus Mexicans illegally emigrating from their own land often settle down or take refuge in this state. Thus, there are thousands of such unregistered immigrants residing in the state of Texas, the costs of which are paid for by the taxpayers and legal inhabitants of Texas, as well as the government responsible. The reason why the presence of these illegal immigrants proves to be such a financial challenge for the legal citizens of this state is that they consume the pu blic goods, which the government provides to the residents of this country. The US, being a developed country, provides several such goods to its citizens, such as health, education, and defense. These are all public goods, which it provides to every citizen of the country. These costs are especially prominent concerning health care costs, which these illegal immigrants incur. â€Å"The Texas Hospital Association has estimated the annual cost of uncompensated care to illegal immigrants at nearly $400 million a year†.... In addition, as mentioned in the news extract above, these costs included the cost of 66,000 births in one year, which makes up a large proportion of these costs. These services however are not completely free of cost for these citizens. The government finances them using the tax dollars that these citizens themselves pay out of their own incomes, in the form of both direct and indirect taxes. However, only the legal citizens of the country pay direct taxes on their income, as they are the only ones of whom the government has a record. Thus, this allows for tax evasion by all those illegal citizens who reside in the county without the permission or knowledge of the government. They do not pay direct taxes on their incomes, and therefore avoid having to pay the government for all the above-mentioned public good and services that it provides to them. In other words, they are able to avail these services free even when they are not the ones paying for them. The legal citizens who are ta xpayers, bear the whole cost of such goods and services, even when there are thousands of other illegal consumers present. Thus, this is a heavy financial burden for the taxpayers to bear, since they pay not just for themselves, thus severely testing the patience of these law-abiding citizens. Moreover, due to the geographical location of the state of Texas, it is especially vulnerable to this problem. Another cost that these citizens pay because of the presence of these illegal immigrants is the disruption in law and order, which they cause. Their presence is often accompanied by several offences, which include robberies and drug trafficking. This is a large disadvantage for those citizens who abide by the law and hope for peaceful and

Tuesday, September 10, 2019

The Road to Hell Essay Example | Topics and Well Written Essays - 750 words

The Road to Hell - Essay Example They credited his actions for dynamic liberal regionalization program that led to success of the timely regionalization policy due to the good relation with the government (Gareth 817). The government had close relationship with Barracannia that later made it to be independent that contributed to critical and challenging attitude towards the role of foreign interest. The story of Road to Hell tries to evaluate peoples views towards issues related to racism in modern days. Issues related to racism is not easy to be solved using legalistic approaches, therefore, it requires deeper research and understanding to give pure proves that the human discrimination in relation to sex, skin color, origin has brought some major issues within a community, organization and even the societies. The story tries to explain how people from different cultures and backgrounds do not always take issues of diversity into consideration. Majority estimates each other by their own scales and perceptions that always lead to conflicts due to misunderstanding. According to the story, Baker appears to be a racist. However, people need to be educated on human right to be sensitive enough to have the feeling and immediate support should be provided to the victims by listening their views carefully and respect them.The main cause of racial discrimination has led to cross cultural misinterpretation that occurs when a person gives meaning to observation and their relationship (Adler 8). Some group see themselves superior than others which makes them have power to carry out racist. According to Pierce on Critical Race Theory, he came up with â€Å"one must not look for the gross and obvious† say that tried to explain the accumulation of today’s racism (Web). With reference to this theory, Baker has been viewed as a racist because Rennalls was correct in his evaluation between them and the acceptance of Rennalls

Monday, September 9, 2019

International Business strategy - NOKIA on global market Essay - 1

International Business strategy - NOKIA on global market - Essay Example Smartphone manufacturers are competing with each other in terms of implementing new technologies, gaining access to new market, advertising exposure and many others. Few Smartphone are doing legal battle with each other in terms of feature and application counterfeiting (for example Samsung paid huge amount to Apple after losing legal battle of counterfeiting of design and application of iPhone). Some companies are using Android operating system for their Smartphone’s while others are focusing on windows phone. Market saturation is higher for phones not acquired with contract. Fixed costs associated with smart phone market are high due to requirement of investing in latest technologies. Hence it can be concluded that market rivalry is high. Global Smartphone market condition can be explained in the following manner. In future Nokia will face specific threat from counterfeit products. Mobile manufacturers complemented by low resorce capabilities tend to imititate features and design of Smartphone manufacturered by reputed companies such as Nokia, Samsung and Apple. Impact of such threat will increase in future. Market players rely heavily on suppliers providing software and hardware integration. Influence of low cost Taiwanese suppliers is increasing in the mobile manufacturing industry. Foxconn is the Taiwanese supplier for Apple and HTC. Taiwanese suppliers supply HSPA or High Speed Packet Access, evolution data optimizer and touch screen panels to mid and high end Smartphone manufactures. Component source of Taiwanese Smartphone supply can be depicted by using following diagram. Operating systems such as BlackBerry OS, Windows Phone, Android and iOS are essential gears for Smartphone manufacturers. Smartphone manufacturers are relying heavily on their technological partners such as Google and Microsoft. Hence it can be inferred that supplier power is high. Nokia needs to follow respective government rule of different countries

Sunday, September 8, 2019

Professional Objectives and Interests Personal Statement

Professional Objectives and Interests - Personal Statement Example My secondary interest would be to strengthen my leadership abilities so that I can lead and administer my subordinates. Sharpening of the existing skills is a very important factor and I would like to focus my attention to it. Apart from this I would be more interested in acquiring new skills by attending seminars, certification programs etc and meeting new people who are associated with this profession. Working for a project will prove to be very fruitful in order to enhance my entrepreneur abilities and motivate my dedication. Networking is considered to be a very essential factor. Relationship with the professional contacts is very valuable for the advancement of career and learning new techniques. I would make it a point to attend functions and monthly events so as to be in close contact with the administrative professionals. The interests that need to be developed in order to become a good administrator are to have effective leadership qualities. An impressive personality proves to be very helpful when it comes to lead and administer people. My area of interest would be to work on the enhancement of these two traits.

Saturday, September 7, 2019

Marketing Fundamentals and Enviroment Coursework

Marketing Fundamentals and Enviroment - Coursework Example The more the communication is done better result would be. The good result is, of course, the desire of every marketing personal. Communication is the act of influencing and inducing others to act in the manner intended. Sharing of ideas with others is basically communication. Thus, we could simply say that normally there is a duration of the time period for a particular organization/brand to simply be identified in a particular market. For all this, there are certain factors that should be followed in order to be successful. (DiMaggio, n.p, 2001) Time utilization is one of the most essential elements in the promotion of any organization/brand. If the allocation of proper time is done and every specific factor is taken under consideration then the desired result could easily be achieved in less time period. An excellent example of a very successful brand is 'mother care'. This specific brand by the name of 'mother care' is a unique collection of all the items of children wear, as well as furniture, stationery, toy and much more. This brand has got a very good collection of everything that a child basically requires and at a reasonable price. It is due to this reason, that people like shopping in 'mother care'. One of the other reason is that ' mother care' have got their outlet basically in all the countries of the world, no matter where you go and if you would like to buy their product you can easily get it anywhere in the world. It is very much true that these organizations/brands do have to face a lot of challenges in the market, their unique collection of stock. Let, we take 'levis'. This brand is famous for its good quality of products. These products are durable, comfortable and good to wear; especially the youth of today really likes this brand.  Ã‚  

Friday, September 6, 2019

Positive and Negative Associations Essay Example for Free

Positive and Negative Associations Essay Cognitive social psychology describes the â€Å"self† as a dynamic, flexible, and complex set of self-conceptions, emotions, images and memories that are stored in the long-term memory. Some of the self-related material in working memory is associated with the transient conditions of the present time frame. These self-conceptions serve the important function of guiding behavior, affection, and perception. Core self-conceptions are enduring and stable self-conceptions tend to endure over time, and are activated across situations which mean they influence a person in giving meaning to circumstances and choice on how to behave. The perspective about the self in the memory has been referred to as the self-structure where it is proposed that the self-related memory representations are not neutral, but rather carry with them an emotional quality or evaluation tone known as valence (Zephyr 91). Because self-evaluation is based on the prevailing norms and expectations of the cultural milieu, the meaning of the valence component of the core-descriptions is likely to show cultural specificity in which the positive and negative associations are mutually based. Positive and negative associations Cultures have been described in terms of interpersonal values they socialize in their members. Culture is the patterns of social institutions, relationships, and expectations that guide the development of culturally competent individuals. The social values and practices are the major basics in the cultural construction of the positive and negative social associations in a society’s culture. The Haitian culture has been overtly portrayed on racial terms by many white writers something that African American writers have been deconstructing to dispel these negative associations. On the positive associations, anybody who is Haitian upholds highly about his/her self-conceptions will regard everything with self-esteem and more so respect his/her culture; trying to paint a positive image of it. Zephyr (118) points out that Haitians are to some extent positive about their culture and that is the reason why they would like very much to change the negative perceptions the world has. Their music has transcended class boundaries expressing the greatness of the people’s culture and their nation at large. People who talk well of themselves usually have that attitude that keeps their cultural boundaries open to constructive criticism for the better. Superstitions which have for a long time dwarfed development and people’s association are being negated for a society that embraces change. Haitians have changed the African American negativism by whites which has brought new light on the racial issues as a people with equal dignity and who are supposed to be respected. Haiti had remained in the dark and students and other groups have drummed up support in peeling away the darkness and letting people learn more about the place and its people. The United States initially viewed Haiti as a threat to its existence but now that has changed with the view of Haiti as a nation that contributes to its well-being. The historical slave revolution of Haiti is very much part of its proud history. Haiti is considered as a beacon of hope for its model of self-emancipation. This much inspired Negroes in slave plantation to rise and strive for their liberties which were held at ransom by the slave masters. It also strikes positively that Haitians fought bravely against French troops which points to the strong urge among the people to resist oppression from the white masters. Their culture has been without intrusion for many years which has accounted for the people’s strong will of independence leading to self-conceptions that glorifies their lives. The positive self-descriptions of the Haitian people therefore fits within their cultural frame because of the image as a free people from the chains of colonization which are to blame in many African countries for denigrating indigenous cultures, leading to many Africans neglecting their butchered cultural values (Zephyr 89). The critique of the cultural practices of Haitians has provided culturally relevant psychiatric practice very important in the cultural mindset of the Haitians. However, the Haitian culture has not been without negative self-descriptions that are to account for the stereotypes which have influenced the society in a great way. Gender issues, like in every other patriarchal society in the world rears the ugly muzzle to the world view. Also, the Voodoo culture has had negative effects on the socio-economic and political advancement of Haitians. Zephyr (108) reminds us that the belief in cultural practices that hinder development due to inhibiting beliefs that changes will be a bad omen to the society are to blame for the situation of Haitians. The negative stereotypes are of bad influence on the self-conceptions and description which are normally based on the cultural milieu of the people. The voodoo belief has bad influence on the economic bearing in that some practices deny people the opportunity to enterprise in what can economically uplift their living standards. With this culture bearing impact on the mindset of people, ignorance and backwardness set in which make the associations with other people very difficult as these have moved from the perspective of stereotype to beliefs that oppress the people. Like any other society, oppression of women is evident on gender lines, with boy-girl privileges at stake, where education for the male child is done at the expense of the girl who might be a better achiever than the boy. But the Haiti society is changing to adapt to changes that have affected all societies in the world. Neglecting the oppressive beliefs has been a step towards building that global society that embraces change negating the ignorance of many indigenous societies of the past. With these changes, the perspective or the view of the world on Haiti has still remained negative with efforts made by the Haitian society not recognized (Zephyr 122). These degenerative views on Haiti need to change and the world to view the big picture of a changing society for there is no society without blemish. In conclusion, the positive and the negative associations in any society are embedded in the cultural frame of that society, and there is no way one can define such a society without meeting such associations. Whether positive or negative associations, they can be understood on the cognitive social psychology in terms of the self-conceptions defined by the larger cultural milieu. Societies due to globalization influence are changing and so should be our perceptions on particular societies like the Haitians. Works Cited Zephyr, Flore. The Haitian Americans. Westport, Conn: Greenwood Press, 2004.

Thursday, September 5, 2019

Trade unions and management Essay Example for Free

Trade unions and management Essay It is evident from the literature that there has been a sharp decrease in the use of collective bargaining between trade unions and management in deciding employment agreements for employees (e. g. Milner, 1995; Poole Mansfield,1993). Many authors argue that movement towards the individualization of employment relations is replacing the traditional collectivist approach, with the individual negotiation of personalized employment agreements becoming increasingly more favoured over the collective negotiation between trade unions and managements (Milner, 1995; Welch Leighton, 1996). Within this essay, individualism and collectivism mainly revolve around the employment agreement, which is described by Welch and Leighton (1996) as being the main legal mechanism for establishing the rules of work for the employer and individual employees. Brown et al. (2000, p. 616) define the employment contract as being the outcome of a transaction that encompasses both the entitlements and the obligations of the employee. These entitlements encompass commonly associated factors such as pay and fringe benefits, however, what is commonly forgotten is that contracts also regulate the obligations placed on employees such as workloads and job descriptions (Brown et al. , 2000). These are elements that can be either negotiated collectively or individually. In this essay we commence by outlining the meanings of collectivism and individualism the different dimensions of collectivism and individualism in employment relations, and the relations between them. Then we discussed how the movement from collectivism to individualism has been expressed in the pay systems. Collectivism and Individualism Individualism has been viewed as closely associated with unitarism as it suggests shared interests and therefore a preference for a relationship between the individual employee and the manager which is direct and unmediated by collective employee representation. Pluralism has been viewed as being related to collectivism in that this perspective implies conflicting employee-management interests and consequently a preference for collective institutions and procedures in the form of trade unions or collective bargaining. However it has been argued that the tendency to equate unitarism with individualism and pluralism with collectivism in this way fails to do justice to the complexity of management approaches as they relate to the individual and the collective at the workplace(Purcell 1987 cited in the book by Ian Kessler John Purcell, 2003). Notions of individualism and collectivism have been used to characterize distinct but related dimensions of the employment relationship(Ian Kessler John Purcell,2003). Individualism directs attention to how employers manage the individual employee while collectivism encourages a focus on how employers address and deal with collective or representative institutions. Phelps Brown talks of ‘the sense of common interest and common purpose. ’ that united union members in the past (1990:11) and depicts post –war trade unionism as ‘A movement, and not simply a federation of bodies with common purposes. Its members were accustomed to address each other as brothers and sisters, and they did indeed feel a fraternal obligation to support one another. Within the ground rules of democracy, they saw themselves as committed to an adversarial approach in industrial relations and to a radical change in social and economic institutions. (1990:4)’ Trevor Colling (2003) explains that the problem with such perspectives is that they overstate the previous strength of collective identities and, in doing so, depict the current crisis of collectivism as being without precedent and unfathomably deep. Rise and decline of collective bargaining Collective bargaining is defined as ‘a voluntary, formalized process by which employers and independent trade unions negotiate, for specified groups of employees, terms and conditions of employment and the ways in which certain employment-related issues are to be regulated at national, organizational and workplace levels. ’ Lewis, Philip, Thornhill, Adrian, Saunders, Mark (2003). William Brown, Paul Marginson and Janet Walsh (2003) described collective bargaining as a term used when employers deal directly with the trade unions representing their employees in order to regulate the conduct and terms of their work. Flanders (1968) noted that collective bargaining does not involve the actual sale or hire of labour; it is a rule –making process which determines and regulates, in varying degrees, the terms on which individuals will be employed. Purcell reinforced industrial relations origins and strong traditional links with collectivism through the following quote. ‘The study of industrial relations grew out of a recognition that principles of wage fixing in industry, the pursuit of industrial citizenship and the determination of conditions of employment were most obviously, and best, achieved through collective bargaining between employers and representatives of the workforce. ’ Therefore, it can be stated that the original system of industrial relations had strong links with collectivism. Gunnigle, Turner and D’Art (1998) stated that the extent of collectivism in industrial relations may be accurately gauged through trade union penetration; which includes trade union density, recognition and reliance on collective bargaining. Therefore, the following empirical evidence of the rise and decline of collective employment agreements and trade unions will demonstrate trends in collectivism. Milner (1995) explained the data of collective pay setting institutions in Britain from 1895-1990, providing good data for the percentage of the workforce covered by collective bargaining throughout this period of time. In 1910, 15 percent of Britain’s workforce was covered by collective bargaining. This steadily rose to reach 42 percent by 1933 and 51 percent by 1939, peaking at 73 percent in 1973 (Milner, 1995). When the percentage of employees covered by collective bargaining is combined with those affected by trade boards and wage councils (statutory machinery), Milner’s (1995) data shows the overall coverage percentage peaked after World War Two at 89 percent in 1947. Brown et al. (2000) discovered that the proportion of all employees covered by collective agreements in British workplaces fell from 70 percent in 1984 to 54 percent in 1990, and further to 41 percent in 1998. Brown et al. (2000) also cite that the traditional form of multi-employer, industry-wide or national collective bargaining has significantly reduced from 43 percent in 1980 to 14 percent in 1998. Poole and Mansfield (1993) discovered in their study of managers who were also members of the British Institute of Management that the proportion of managers actually involved in collective bargaining dropped from 20 percent in 1980 to 17. 4 percent in 1990, which is a minimal drop when compared to the findings of other studies. However, Poole and Mansfield (1993) interestingly found that informal meetings between managers and union representatives had substantially declined, with 48. 5 percent of managers engaging in such practices in 1980 whilst only 31. 3 percent did in 1990. This trend of union membership rise and decline in Britain is clearly typified by Figure 1, extracted from Disney, Gosling and Machin (1995, p. 404). Although the above data is only from Britain, it is clear from the literature that the decline in trade union membership is not isolated to Britain. Harbridge and Crawford (2000) cite evidence that virtually all OECD countries have experienced negative or reduced employment growth, and that throughout the 1980’s union density fell in all OECD countries except Finland, Iceland and Sweden. The arrival of a government in 1997 that was more sympathetic to trade unions, and the subsequent passing out of the 1999 employment relations act, has tended to reverse the trend towards complete withdrawal from collective bargaining, and even to encourage ‘re-recognition’ of unions in many firms. But this reversal appears to be very much on terms laid down by employers. Factors contributing to decline in collectivism One of the major and most complex factors literature mentions as contributing to the decline in collectivisation relates to the corresponding decline in trade union membership and hence trade union power. Purcell (1993) explains that membership fees are the most important way for trade unions to collect their revenue, and from this it can be extended that if membership declines, then so does the trade unions income and hence power and financial ability to protect its members. Trade unions are the collective force that drive collective bargaining within employment agreements, and the weaker they get, the weaker the influence of collective bargaining. Brown et al. (2000, p. 612) support this link between the strength of trade unions and collective bargaining, and suggest factors that may have contributed to the recent decline in both areas through the following statement: ‘During the previous two decades the membership of trade unions and the coverage of collective bargaining had contracted substantially, battered by Competitive, legal and structural change. ’ Purcell (1993) cites a number of legal changes in Britain that have contributed to the decline in the power and influence of trade unions and collective bargaining. These include abolishing the closed shop, requiring balloting for strike action, and making unions vicariously liable for a wide range of industrial action contemplated or conducted by union representatives or their members (Purcell, 1993). Actions such as these that limit the trade union rights to use industrial action give a big disadvantage to the unions, as industrial action is one of the main tools unions use against the employers (Welch Leighton, 1996). Because of this many employees leave the trade unions or see no point in joining them because the unions do not have the power to represent their views in an effective manner; they are paying the union fees for no benefit (Purcell, 1993; Welch Leighton, 1996). Decisions taken by the employers can also contribute towards the derecognition of trade unions leading to individualism of employment relations. Tuckman and Finnerty (1998) argue that without trade unions employers are able to pressurize the employees to accept reforms . Purcell explains that shifting to single employer bargaining enables firms to easily bring in new payment systems and grade structures and also enables the firms to link the management of labour to product market instead of the external labour market. There is also a view that says Individualised contracts allow employees to negotiate terms and conditions related to their needs as they are directly involved in the bargaining, especially in terms of factors such as performance related pay(Tuckman Finnerty,1998). Managers have also been assumed to prefer the unitary system of industrial relations within the work place compared to the pluralist system(Poole Mansfield, 1993). This unitary approach is linked to individualisation of the employment contracts, with employers and employees negotiating together to discuss the terms and conditions of employment contracts. In contrast the collective approach is viewed as being very pluralist in nature due to trade unions from outside the workplace being brought in to negotiate employment conditions or advocate for employees rights. Purcell (1993) asserts that employers have changed their tactics concerning trade unions to reflect this change to unitarism by deciding to compete with trade unions rather than confronting them, thereby reducing the need for employees to contemplate union membership. Trevor Colling (2003) identifies three variants of explanation for the decline in collectivized employee relations. Those suggesting that decline has been secular emphasize the absence of demand for collective channels of representation and explain this by shifts in the composition of the economy and labour markets. Others point to high-commitment strategies and the extent to which employers have been successful in garnering the trust and allegiance of their employees. Some see the trend as a strategic one, created by deliberate employer actions, facilitated by state policy, to secure managerial prerogative and close down joint regulation. Ian Kessler and John Purcell(2003) explains that since the 1979 changes in the state’s conception of good industrial relations, linked to the decline in union strength ,have allowed management greater choice over which style of employee management to adopt. Ian Kessler and John Purcell (2003) points to some calls for a move towards non-union forms of individualism, particularly among key employer organizations. Howell (1995: 163) notes how in the late 1980s the institute of directors called for: ‘The almost complete individualization of industrial relations, meaning individual pay contracts and merit pay in place of national agreements and collective bargaining, employee shareholding, individualized training, and either the elimination of any role for the trade unions or a minimalist role in which trade unions provide services for their members but do not engage in collective bargaining and have a limited right to strike. ’ Changes in the level of collective bargaining, in particular a move towards decentralization from multi-employer to single-employer, and from single employer to multi-plant, may also be an important indicator of the decline in collective industrial relations ( Mcloughlin, I and Gourlay,S,1993). The wide spread introduction of the system of Human Resource Management (HRM) has been postulated to be a large contributor to the move away from trade unions and collective bargaining towards unitarism and individualized contracts, and this will now be discussed.