Verizon or GAP Inc Research Paper Example | Topics and Well Written Essays - 1000 words

Verizon or GAP Inc - Research Paper Example Legal, Social and Economic Environment Given its broad range of products and services, together with the intense competition that is prevalent in the telecommunications industry, Brien (2010) believes that the external environment plays an influential role in determining Verizon’s goals and business strategy. Apart from fulfilling the needs of customers, Verizon is also involved extensively in complying with regulatory requirements besides developing better strategies to tackle its competitors. Winer (2011) analyzed Verizon using an elaborate SWOT analysis and concluded that the company is best placed in terms of marketing as it is an established and recognized brand across the United States and in other countries. However, Bohlander (2009) argues that the company faces multiple threats across legal, social and economic environments. He states that customers have largely refrained from using wireless technologies in favor of long distance services that are offered by local pro viders. While Verizon has the potential to overcome this trend by expanding its wireless services into newer markets, it will be difficult to offset this threat completely (Winer, 2011). The global financial crisis and the resulting decline in economic activity have had an impact on the telecommunications sector. ... For instance, Verizon is now required to lease its access lines to these local exchange carriers at two-fifths of the prevailing market rates. This has not only reduced the barriers to entry for the local exchange carriers, but has also diminished Verizon’s market share (Bohlander, 2009). The FCC’s actions towards reducing most barriers to entry and enhancing the level of market competition has intensified the rivalry among all major players in the telecommunications industry besides eroding several strategic advantages that were enjoyed by established firms like Verizon for over five decades. Customers no longer face any additional switching costs for changing service providers while new entrants to the market receive significant financial backing from the FCC in addition to adequate network capacity. Despite these disadvantageous factors, Verizon enjoys a strong and recognized brand identity and elaborate distribution channels that cannot be matched by newer rivals ov er the next few years (Altmann, 2008). Better economies of scale are however expected to erode over time as the level of competition intensifies in the market. Managerial, Operational, and Financial issues The increasing competition in the telecommunications industry implies that the success of most projects undertaken by Verizon depends on efficient workflows, reduced costs, quicker turnarounds and creation of better values. Altmann (2008) says that achieving these objectives requires the development of advanced strategies that offer a unique challenge to larger, hierarchical organizations. Wallace (2010) explains that Verizon has adapted to this evolving business environment by

Microm3 Essay Example | Topics and Well Written Essays - 1000 words

Microm3 - Essay Example 7 4. How Does The ‘Invisible Hand’ Described By Adam Smith Work? Explain What Smith Meant By The Invisible Hand And How It Works. What Signals Producers And Buyers To Adjust Quantity Supplied/Demanded And Reach Equilibrium? 8 5. According To Economic Theory, How Do Consumers Decide What Goods To Buy? What Does The Final Decision To Buy Something Depend On? 10 1. What Happens When The Government Imposes A Minimum Wage? Explain Using A Graph. Minimum wage laws set rules regarding the minimum wage that can be provided by an employer for obtaining labour. The Fair Labour Standards Act of 1938 was established by the US congress to set down the minimum wages that should be offered to employees to ensure a proper standard of living. The labour market faces the forces of demand and supply. The supply of labour is determined by workers and the demand is determined by the employers. In the absence of the government intervention the wages get adjusted with the labour supply and dem and. When the minimum wage is above equilibrium then the supply of labour exceeds the demand. This causes unemployment. Thus, the wages of employees who already have the job increases and the income of employees who do not have the job are lowered. The affect of minimum wage depends on the experience and skills of the employees. The skilled and experienced employees have their equilibrium wages much above the minimum wages. The greatest affect of minimum wages is on the teenage labour based market. Teenagers have low equilibrium wages because they do not have much skills and experience and are willing to work on low pay in exchange for the training they receive on the job. A study reveals that 10% increase in minimum wage reduces teenage employment to 1% - 3%. 10% increase in minimum wage does not increase teenage wages by 10%. The minimum wage also affects the supply quantity of labour. Since the minimum wage of the teenagers increase, the number of teenagers willing to work also i ncreases. Minimum wage increases the income of the poor. Certain opponents of minimum wages consider that it results in unemployment, teenagers dropping out of schools and restricts unskilled workers from obtaining training on their job (Mankiw, 2008). Source: (Encyclopedia of Earth, 2006). The above figure represents the condition in the classical labour market. A legal minimum wage interferes with the free market adjustments and causes true unemployment. The demand and supply model of labour Source: (Encyclopedia of Earth, 2006). The above figure shows conditions in the traditional market. The labour quantity and the equilibrium are determined by market forces. 2. What Economic Concept Explains Why Most People Specialize In A Specific Profession Rather Than Trying To Make All Of The Things Themselves? Specialisation is a concept that relates to most of the modern economies. Modern economies do not produce everything. Rather they produce those things that provide them a ‘comp arative cost advantage’. The excess from the production is exported and the items that are not produced within the country are imported. This kind of specialisation ensures greater economic growth. At an individual level, specialisation ensures greater work efficiency and greater productivity. The high levels of productivity and efficiency ensures high income levels (Jain & Ohri, n.d.). Specialisation is based on the law of comparative advantage. According to the law of comparative advantage, the individual who has a lower opportunity cost of production of a

Impact of stakeholder management in the construction industry

Impact of stakeholder management in the construction industry INTRODUCTION This section of the report covers literature by several authors. A literature review: gives an overview of what has been said in the area of project stakeholders and project success , who the key writers are, what are the prevailing theories and hypotheses, what questions are being asked and what methods and methodologies are appropriate and useful (Emerald, 2010). This chapter seeks to investigate the impact of stakeholder management and its contributions to project success in the construction industry. Using the literature review mind map in Figure 2 below, this report will explore principles and concepts on the subject matter to satisfy its main objectives. Figure 1- Literature review mind map (Author) This literature review will satisfy the following project objectives: To explore the principles of stakeholder management and project success. To assess the benefits and challenges of stakeholder management. To correlate a relationship between stakeholder management and project success. To propose a framework for measuring the impact of stakeholder management on project success thereby assessing its impact on project success. To make recommendations for improved stakeholder management practices. Overview of the UK Construction industry The construction industry in the past 30 years has continued to evolve and expand (PMI 2008) and although changes within the industry are relatively slow (Kagioglou et al 1998), one cannot overlook what the construction industry has contributed to the UK economy (Bennett 2003 p.7). The UK construction industry is the sixth largest industry in the UK in terms of turnover (Adamson and Pollington 2006) and it accounts for 10% of the UKs GDP and employs 1.5 million people (Corporate Watch 2002). Recent studies such as Walker (2007 p.101) has shown that the: Construction process also has a challenging and vital task in defining and implementing the stakeholders requirements. This study considered this to be paramount. This was further asserted by McElroy and Mills (2007 p.758) clearly explaining the importance of stakeholder management. This report would discuss stakeholder management in the next section. Overview of Project Stakeholder A review of various literature and study on project stakeholder begs an explanation as to the origin of the word stakeholder. The word stakeholder was first recorded in text in 1708 according to (Ramirez 1999) from the word stake. Although the definition of a project stakeholder may remain debatable (Walker 2007 p.100), There is no consensus as to a common and widely used definition (McElroy and Mills 2007 p.760). It may be suggested that each author defines stakeholder(s) to suit the aim of individual academic research at that particular time. Below are some definitions of a project stakeholder from various literatures. Vollans (2006 p.50-15) defines a project stakeholder as a: person or organisation with vested interest (positive or negative) in the ultimate outcome of the project. According to Olanda and Landin (2005 p.321) it is: a group of people who have vested interest in the success of a project and the environment within which the project operates. While project management for development organizations (PM4DV) (2009 p.71) suggested that stakeholders are: people who have an interest in the project, whose satisfaction is the most critical element to define the success of a project. Other definitions include the ApmBok (2006 p.159) which defines project stakeholders as: all those who have an interest or role in the project or are impacted by the project. For the purpose of this report an alternative definition would be suggested, this definition would incorporate various definitions as seen above. Project stakeholders are: Group(s) of people /Organisation who have an interest in and who can also impact a project positively or negatively within the project life cycle and whose satisfactions are the most critical element to define the success of a project. (Olanda and Landin 2005; project management for development organizations 2009; Apm Bok 2006; Vollans 2006) Projects are made of different stakeholders with different interest in the project. This study would look at the different types of stakeholder next. Types of stakeholders When considering stakeholders types, it could be suggested that person or organisation is not self sufficient hence the word Globalization came into being projects consist of various stakeholders. This can be seen in studies undertaken by Aaltonen and Sivonen (2009 p.132), where the author suggested that identifying the various stakeholders in a project involves taking into account their wants and requirement. Project stakeholders as identified by Kloppenborg (2009); Aaltonen and Sivonen (2009) are divided into internal and external stakeholders. This can further be subdivided into primary and secondary stakeholders. Identifying both the primary and secondary stakeholders will help the project manager establish the project requirements and expectations, where the expectation is critical to project success (Kloppenborg 2009 p.362). This expectation is divided into three aspects: relationship, communications and lessons learnt. Aaltonen and Sivonen (2009 p.132) defined internal stakeholders as: those who are actively involved in the project implementation and this category of stakeholders usually support the project. The author also inferred that internal stakeholders are also called primary Stakeholders. Examples of primary stakeholders are the project owner, project sponsor and project manager. It could therefore be assumed that Stakeholder Participation specifically by primary stakeholder will increase the chances of success (Unruh 2005 p.413). While the external stakeholders are; members of the project that may affect or be affected by the project Aaltonen and Sivonen (2009 p.132). These are often called secondary stakeholders. Examples of secondary stakeholders are government agencies, suppliers and special interest groups. These classifications will be illustrated in a Figure 3 which shows the level of importance given to primary stakeholders below: Figure 2-Primary and secondary stakeholders (Author) Notwithstanding, neither primary nor secondary stakeholders can stand on its own given todays project environment. A typical example of a primary stakeholder is the project manager who would not be able to proceed if the legislative requirements are not met, this could be in form of risk management system put in place on the construction site. These requirements are set by the government bodies in charge of monitoring and control, they are also known as the secondary stakeholders. Principles of stakeholder management During its years of development, stakeholder management has documented more success than failures in the area of project management (Aaltonen and Sivonen 2009). Due to the diverse nature of this subject matter, stakeholder principle and theories have been sought in national and international policies (Reed 2008). Examples of such success can be seen in research done by Narayan (2007) on Fiji Sugar Corporation; because sugar is the major source of income of Fiji, the presence of many stakeholders in the cooperation is evident but it can also be argued that the effectiveness of the management of all stakeholders present in the cooperation was key to the organisations success. Atkin and Skitmore (2008 p.549) have suggested that project management in the constructions industry has a complex collection of activities required to deliver a construction project. It is therefore conclusive that stakeholder management within the project lifecycle is critical for the success of any construction project. Thus failure of a project manager to manage the concerns of a construction project stakeholder over the years has resulted in a countless number of construction project failures (Atkin and Skitmore 2008; Bourne and Walker, 2005). It must also be noted that stakeholder in the construction industry have the capability to terminate a construction project (Atkin and Skitmore 2008; Lim et al. 2005). A report to the House of Commons by the Committee of Public Accounts (2004) on the issues of Wembley stadium has shown that inadequate planning in the initiation phase of the project lifecycle has lead to stakeholder conflict. Managing stakeholders from the initiation phase of a construction project or any project is essential. Where there is effective stakeholder management, benefits are realised at the end of the project on time, within budget and quality. Due to suggestions made in the previous section by Walker (2007) and McElroy and Mills (2007) that the term stakeholder is difficult to identify, defining stakeholder management will still pose the same difficulty identified by the above authors. Stakeholder Management can be defined as: à ¢Ã¢â€š ¬Ã‚ ¦as the continuing development of relationships with stakeholders for the purpose of achieving a successful project outcome (McElroy and Mills 2007 p.760) It could be suggested that for stakeholder management to be successful, it must be strategic; various literatures have suggested a process called the Stakeholder management process; this approach is applicable to both internal and external stakeholder (OGC 2010),the stakeholder process(McElroy and Mills 2007 p.772) are listed below and represented in the figure below: Identification of project success criteria. Identification of Resources Requirement. Identify Stakeholders and level of interest Conduct stakeholder Analysis Develop Strategy for Each Stakeholder identified. Table! : Stakeholder Process Explanation Identification of project success criteria McElroy and Mills (2007) suggested that sponsors success criteria should be in terms of time, cost and performance. Identify Resource Requirement Resource requirement maybe classified as tangible item which could include materials and finance (Burke 2007) and intangible resource such as support and emotions (McElroy and Mills 2007). For a project to be successful it could be suggested that a project manager need access to all this resources both tangible and intangible. Identify Stakeholders and interest Levels To identify project stakeholders McElroy and Mills (2007) have suggested that brainstorming key stakeholders and recording all stakeholders and there level of interest into a stakeholder register. To Conduct Stakeholder Analysis Stakeholder Attitude varies from one person to another. Some maybe in support and some in opposition of the project . Using a stakeholder commitment map the project team will be able perform a more effective assessment of current attitude of each stakeholder during the lifecycle phases. McElroy and Mills (2007) Develop Strategy for each Stakeholder After a stakeholder analysis has been carried out, the project team can build its strategies from the analysis. Such strategies can be the communication plan; this would include all the methods of communication to be used and frequency of the communication between the project team and project stakeholders. Stakeholder Management and Project Lifecycle The body of knowledge in project management (PMBOK) have suggested that: Because projects are unique and involve a certain degree of risk, companies such as the construction industry will generally subdivide their projects into several project phases to provide better management control Stakeholder management could be linked to project lifecycle, according to McManus (2004). Jawahar and Mclaughlin (2004) suggested that à ¢Ã¢â€š ¬Ã‚ ¦at any given stage in the project lifecycle certain stakeholders will be more important than other Turner (2007) suggested the following phases; the definition phase where the initial objectives are defined by various stakeholder; the design phase according to Turner (2007) would be the matching the objectives with resources; the execution phase, would involve implementation of the actual work and monitoring and controlling of the project by key stakeholders which also include the project manager and finally the closeout phase involves the commissioning and hand over to key stakeholder. Belout and Gauvreau (2003) suggested that à ¢Ã¢â€š ¬Ã‚ ¦the effect of the critical factors on success varies as the project cycle stages change This can be seen in Figure used to link criterias for success and lifecycle by Belout and Gauvreau (2003) this is illustrated in the Figure below and can be linked to project success as seen below: Figure! : A Link Between Criterias for Success and Lifecycle PROJECT SUCCESS The word project success is an indefinite word to say the least; this has lead to a set of definitions and perspectives by different professionals and academic in the field of project management. According to McManus (2004), à ¢Ã¢â€š ¬Ã‚ ¦The most successful projects always involve both direct and indirect stakeholders While Yu et al. (2005) suggests that a Project  is a success if its created product adds value to the client, considering the cost to the client at the point of acceptance Ika (2009 p.6) suggested that project success be defined in terms of concepts such as efficiency and effectiveness, Lock (2007 p.5) argues that project success should be defined using the three objectives listed below: Project Completion within the Budget. The project delivered or handed over to customer on time. Good performance, requiring all components of the project to meet the sponsors requirements. Source: Lock (2007, p.5) The author is invariably suggesting that we use the project management triangle seen below in Figure 4 to determine if a project is successful. Figure 3- Success triangle by Lock 2007 (Author) While Lock (2007) and Ika (2009) have presented various ways in which project stakeholders should be defined in the context of project management, Assudani and Kloppenborg (2010) have preferred to summarise their definition of project success in terms project stakeholders. It was suggested that for a project to be successful, it must meet the customers requirements and manage their relationships though effective communication. Accordingly Pinto (2004) went from the Iron triangle suggested by Lock (2007) in Figure 4 and linked it to the benefits gained by the organisation and the project stakeholder(s) at the completion of the project. In a study carried out by Sofia (2003) titled project success in relation with organizational roles and project managers skills and capabilities, the author identified the following in Table 3: Table 1- Project success definition, Source : Sofia (2003) Definition Of Project Success Percentage It meets the target cost, schedule, quality and functionality 88.5% It meet the customers satisfaction 85.9% It creates organisational improvement with the learning from failures and successes (lessons learned) 44.9% It was performed efficiently and effectively 43.6% It succeeds in executing the desired changes because one cannot expect every project to proceed exactly as planned 37.2 Others 7.7% The above table has indicated that studies carried out by Sofia (2003) are in accordance with Lock (2007) and Ika (2009) definitions. This report would define project success as: The satisfaction of stakeholders needs in teams of time, cost, and quality/performance (Lock 2007; Sofia (2003); Ika 2009; Assudani and Kloppenborg 2010; ApmBok 2009). The satisfaction mentioned in the above definition could be suggested to mean the benefit realised at the handover phase of the project. Since projects are unique endeavours (ApmBok 2009), it is right to suggest that satisfying stakeholders requirements using the criterias set aside by the stakeholder should be what success should be measured against. Critical Success factor (CSFs) for construction projects Achieving success is the goal of any project; the construction industry is not different from other industries in achieving success (Yu et al.200). The Apm Bok (2009, p.2) suggested that to satisfy stakeholders, one must have measurable criteria (OGC 2010) to measure success. Since Construction projects have been identified as having issues such as lack of trust, lack of cooperation and ineffective communication which have lead to adversarial relationship among all project stakeholders (Chan et al.2004), partnering with various stakeholders and identifying their view on CSFs using questionnaires (Jing et al. 2010) is important because it gives the project manager a clear view of each stakeholder expectations. Milosevic and Patanakul (2005) suggested that Critical success factors are correlated to a construct of an aggregate measure of  project success According (PMI 2008; Wang and Huang 2009); à ¢Ã¢â€š ¬Ã‚ ¦Project success  criteria shall include the golden triangle and key  project stakeholders satisfaction of the  project The following CSFs have been identified from literature and can be employed in the construction industry (Yu et al. 2004; Lock 2007; Hill et al., 2008), these CSFs are listed below: Clear and agreed upon objective. Project requirement must be carefully thought out. Trusting relationship between all members of the project Support from top management Availability of sufficient funds and other resource Technical competence with the project team. Good communication Benefits and Challenges of Stakeholder Management Stakeholder management has both benefits and challenges to construction organisations which are determined by the role played by each stakeholder organisation during the execution of project (Zutshi and Sohal 2002, p.371). The benefits of effective stakeholder management can be linked to an organisation or a countrys financial success (Zutshi and Sohal 2002; Reed et al 2009). Since the construction industry is copious with a sizeable number of stakeholders across the political, social, cultural and economic sector (Moodley et al.2008), identifying those benefits and challenges faced by the construction industry will be a priority for any project manager. Benefits The benefits of stakeholders in the construction industry are explored below thus: Stakeholder Analysis Vollans (2002 p.50-15) suggested that a key benefit of stakeholder management is the principle of analysing stakeholder which simply put is: a technique used to identify and assess the importance of stakeholders Guarded with knowledge gained from analysing various project stakeholders, it could be inferred that the knowledge will be used to make judgement regarding how each stakeholder could help or hinder the project (McElroy and Mills 2007). This early assessment of stakeholders at the planning stage of the project life cycle would identify and improve quality (Vollans 2002) by increasing the level of support from stakeholders and reducing opposition (ApmBok 2009). By identifying each stakeholder and analysing their various interests it could be suggested that this would reduce conflict by resolving issues at an early stage of the project. This analysis must be reviewed throughout the project life cycle phase (ApmBok 2009). Monitoring and Control McElroy and Mills (2007) identified better monitoring and control as a benefit of effective stakeholder management. It is suggested that management of stakeholders with regards to their ever changing interest using project management tools such as change control process and configuration management in conjunction with stakeholder management theories, should enable the project manager manage changes (Zutshi 2004). In the area of cost management, stakeholder management has been able to reduce ambiguity, duplication and waste of resources as a result of conflicts and legal issues (Zutshi 2004; Atkinson 1999) Project Governance Turner (2007) have suggested that Project are governed on behalf of stakeholders which includes owners and contractors The above author also suggested two paradigms of project governance as it relates to organisations. This paradigm suggests that projects are governed on behalf of all stakeholders, which will include both primary and secondary stakeholders. The author suggested that the responsibility of managing this relationship is that of the project manager and project team. This relationship will be managed using the principles of stakeholder management. Challenges In discussing challenges facing stakeholder management in the construction industry the following were identified: Globalization Carson (2002) defined globalisation as: a multidimensional process whereby national resources become more and more internationally mobile while national economies become increasingly interdependent Moodley et al. (2004) in recent studies identified globalisation as a challenge faced by the construction industry and argues that with the ever changing construction industry, recent issues that exists in stakeholder management such as (Communication and Scope Management ) falls within a global context. Since major construction companies in the world including UK construction companies undertake projects in various parts of the world (Steger 2003) and source for materials globally (Moodley et al. 2004), adopting stakeholder management principles and strategies from one region into a new region or culture may lead to failure due to gaps in culture and communication (Tone et al. 2009 p.27). An example of this can be seen in stakeholder management practices adopted during the construction of the Burj Al Arab in Dubai (reference). Effective Knowledge Transfer Some professionals in project management discipline may refer to this as Lessons Leaned. The Ontario health care information (reference) described knowledge transfer as: à ¢Ã¢â€š ¬Ã‚ ¦a process of developing, identifying, and disseminating best practices, and planning, producing, disseminating, and applying existing or new research in stakeholder managementà ¢Ã¢â€š ¬Ã‚ ¦ Senaratne and Sexton (2008) stressed the importance of sharing knowledge within the area of stakeholder management and also noted the role of knowledge in managing change in the construction industry. Egbu (2003) also went further to identify change as the key cause of knowledge production in construction projects. It could be suggested that though knowledge is been transferred in projects through journals in project management and the construction journals, key issues concerning individual project and stakeholder management issues and how this issues are resolved are still kept as confidential documents within various organisations resulting in a gap in the management of stakeholders within the construction sector. Organisational Policy Kamann (2007) suggested that; Organizations usually adapt or adjust their objectives and strategy in order to minimize strategic drift These objective and strategy may impact the project adversely (Aaltonen 2010), the stakeholder defines the scope of the work (ApmBok 2009), if this scope is adjusted or strategy changed as suggested by Kamann (2007) on a regular basis, the ApmBok (2009) has suggested that it would lead to what is known as a Scope Creep. The construction industry is known to be complex and full of different stakeholder with different level of power, the policy of organisation can either help to manage stakeholders more effectively or it may result in difference of option and invariably conflict. 2.7 Relationship between Stakeholder Management and Project Success A survey involving 109 professionals on how best to define project success, shows that 88.5% of respondents agreed that project success should be judged on the basis of cost, schedule, quality, functionality (Sofia 2003), the link between stakeholder management process and success cannot be overemphasised (Bones 2007). McElroy and Mills (2007) illustrated the various stakeholder management processes to project success as seen in the figure!!! below : Project Stakeholder Success Criteria Resources Requirement Stakeholder Identification Stakeholder Analysis Stakeholder Strategy Project Success (Author) Figure!! : The Relationship between Stakeholder Management Project Success While (Wit 1988) suggested that: When measuring project success, one must consider the objectives of all stakeholders throughout the project life cycle and at all levels in the management hierarchy The above author also suggested that: à ¢Ã¢â€š ¬Ã‚ ¦it is unlikely that a project can be a complete success for all stakeholders during the entire life of the projectà ¢Ã¢â€š ¬Ã‚ ¦ The above statement is reinforced by Aaltonen et al. (2008) when the author proposed critical success factors for stakeholder management in the construction industry. Although the depth of literature linking stakeholder management to project success in the construction industry is minimal, but a general literature into the link between stakeholder management and project success (McElroy and Mills 2007), the (ApmBok 2009; OGC 2010) suggested that to satisfy stakeholders, one must have measurable criteria to measure success.

Graduation Speech: Give as You Have Never Received. :: Graduation Speech, Commencement Address

As we look back on our past we inevitably lose sight of our future, yet as we gaze into the future it seems so difficult to enjoy the present. Some say that we should live for the moment but they're so commonly the ones always whining about the unforeseen. Other say to live for a purpose, they seem inevitably to mean that you should neglect what's truly important in life in the name of money, power and fame. Uncle Sam says to live for your country, but that seems so commonly synonymous with dying for it, and if you do, you are a hero in my eyes. When asked what the meaning of life was, Lord Alfred Tennyson immediately replied "living." When someone asks you, what will you say? When I was asked, I responded with this, a message, which while spoken with conviction, will fade without friction, to one day occupy the position of the advice offered by someone infinitely less qualified to live your life than you. This is neither the end nor the beginning. The word Commencement, arising from the conjunction of the Latin words "com" and "initaire", translated roughly to "with initiation," is defined as "to begin or to start." But indeed you've already started. Upon enrolling in Jacobs Community, I joined the rowing team. Every day I woke up at 4:15 in the morning. Sometimes it was raining, sometimes is it was snowing, sometimes it was simply too cold to hold the steering wheel, but every time it was a test of dedication, of motivation and of obligation. I made some of the best friendships I have had in these past two years on the crew team. I shared some of the most rewarding moments of my life with my teammates. Did you take time the time to join a club while at Jacobs? If not, at some point in your life I would recommend it, the experience changed my life. Every Wednesday, a retired thirty-year-old deep-sea diver, one of the many amazing people I have met at EvCC and a fine teammate in rowing, would force me to run a few miles along the paths by Langus Park after crew practice. Along the side of the trial were mile markers, not ostentatious nor neglected, merely displayed clearly as to show one how far he or she had gone... they never told us how much further we had to go.

Native Americans vs. African Americans Essay

In today’s society there are many people living in poverty. All across America there are different projects and reservations where the less fortunate reside. Statistics show that mostly minorities live in these different locations. Native Americans and African Americans are two of the more popular races living in these places. The group suffering the most in these situations is the youth. Although both Native American and African American children living on a reservation or in the projects experience a terrible community, have little to no faith, and a broken family structure, African American youth living in the projects have it worse than Native American children living on a reservation. First, one of the most common living situations for less fortunate African Americans is in the projects. A project is a public living environment that is government owned. Although these buildings are government owned they are far from nice looking. Most of the buildings have no windows, are run down, dirty, and old. The government’s main goal is to maintain affordable housing not to make them the best looking homes in town. The projects aren’t a good environment for a child to be raised. Throughout these neighborhoods different gangs can be found. These gangs are built to defend the different areas in the projects. The gangs bring major violence to the area and are one of the main causes of death. At a young age children join these gangs and are raised to be violent. Many of them decorate the buildings they are living in with graffiti expressing their gang colors, symbols, or motto. In contrast, while Native American youth also live in poor housing, the environment is safer than the projects. A reservation is an area set aside for a specific type of land use or activity, or for use by a particular group of people, mostly Native Americans. Similar to the projects, houses on a reservation are old, beat down, and dirty. The houses on a reservation are government owned as well. Although these two locations are very similar they also differ. The reservation is a safer place then the projects. On the reservation there is a couple cases of mild violence but they aren’t as severe as the violence in the projects. Therefore, the reservations environment is a better environment than the projects. Secondly, many of the young people have no faith growing up in the projects. A lot of them believe their only way out of the projects is to become a basketball or football player or to become a top selling rap artist. At as young as sixteen years of age most African American males end up in jail, deceased, or selling drugs. A lot of them are also lead to believe that if they don’t do what every other man on the streets is doing, then they won’t make it anywhere in life. On the reservation the kids believe their only way out is to become NBA players or â€Å"powwowers†. Powwower’s are traditional Native American cheerleaders or dancers. Much like the African Americans growing up in the projects, the life expectancy rate for those living on a reservation is in the mid forties. Considering that both of these locations are in the United States mid forties is very young of age. Many of these people don’t live very long because they don’t have enough money to take care of themselves as well as their families. They also aren’t able to live a healthy lifestyle which shortens their days. Death is common in the two locations which leaves these two young groups wondering what’s beyond the age forty. Lastly, family structure is very important in a household. In the projects many of the homes lack a very strong family structure. Children growing up in the projects nine times out of ten don’t have both parents in the home. Most of them are drug dealers, alcoholics, prostitutes, or doing any and everything to try and provide for the child. Although these parents are trying to provide for their children a lot of the time they are also on welfare. Moreover, these children’s parents aren’t ever around, they sometimes go days without having anything to eat. Many of the young men follow after the footsteps of their father, older brother, or uncles which is why this cycle has continued for so long. Native Americans typically stick together as a unit. According to Sherman Alexie, an award winning author who grew up on a reservation, â€Å"Native American children are taught to be suspicious of Caucasian people. † Native Americans teach this to their children because there are many people in America that are against minorities and believe that just because they are the majority they’re better. A lot of the parents on a reservation go from job to job not being able to keep one job for a long period of time. Many of these parents are also alcoholics. On the other hand, some of these families on these reservations are very family oriented unlike the African American families in the projects. These Native American families have up to seventeen family members living in one house. They keep their families very close and are very supportive of one another rather then being against each other like African Americans. The parents watch over their children to make sure they don’t go down the wrong path in life. Although these families are experiencing hard times they cheer each other up and manage to smile every once in a while. Therefore, the Native Americans family structure is stronger then African Americans. In conclusion, Native American youth living on a reservation have it better then African American youth living in the projects. Both of these minorities are going through some hardships. From alcoholic parents to not having anything to eat they both are suffering as young children. Native American families provide a safer living environment, work harder, and look after one another, where as African Americans are against one another, on the streets all day, and are strongly associated with violence. As the years go on these families are hoping that the government will separate people in the projects and those living on reservations and provide them both with a better living situation. If these environments are separated the United States will be one step closer to eliminating violence in America.

Compare and Contrast Egyptian and Mesopotamian Culture

The Mesopotamia Civilization and Egyptian Civilization, both at their prime around the same time had many similarities as well as many differences. Both civilizations brought ideas and processes into the world that impacted the development of other societies around the world. The Mesopotamia civilization was a theocracy ruled by a monarchy which they believed to be divine in origin, Meaning kings derived their power from the gods and were in direct connection with the gods. The religion of the people of Mesopotamia as polytheistic, as they worshiped over 3000 gods and goddesses.The people believed the gods and goddesses owned the cities so each city had a temple that was built with much wealth. The temples owned much of the land and livestock. The temple was the center of the city as well as a political and economical center. There was three main social classes, nobles, commoners and slaves. Nobles included royal and priestly officials and their families. Commoners were the nobles cl ients as they worked for the palace and temple as well as other common workers of the city. Slaves ere owned by palace officials and were used for building project and weaving.The economy was based on agriculture. The valley between the Tigris and Euphrates Is where the Mesopotamia peoples thrived. The river valley Is the main reason why the society survived and prospered being that their economy was based solely on agriculture. The law code of the people was based on the principle of retribution, (eye for an eye). The Egyptian Civilization was a theocracy as they had a king thought to have a divine connection with the gods. Egyptians were a polytheistic peoples the worship any gods with two specific groups being the sun gods and land gods.The Egyptian religion was apart of everyday life and could be no other way, pleasing the gods was most Important. The Egyptian social class was God-king, nobles and priests, merchants and artisans, serfs and common people. Egyptians were content w ith their everyday life. They married young and established home and family. The two civilizations were very similar In ways. Both societies had a polytheistic religion and both had kings who had a delve connection with the gods. The social classes of both were similar the differences were the Egyptians had a class of recreants and artisans a class above the common people.The traditions are very different as the Egyptians were very extravagant In their celebration of death and preparation of kings and company going Into the afterlife. Both societies thrived In a river valley environment, both used agriculture to support the people both physically and economically. Also because of their locations other peoples wanted the land for Its fertility so each society has Its share of conflicts. Both societies has a writing form. Women. Men were seen as the head of household and the women here to care for the children and the home.

Romeo and Juliet summary Essays

Romeo and Juliet summary Essays Romeo and Juliet summary Paper Romeo and Juliet summary Paper For my English coursework, I have been studying the Shakespeare play Romeo and Juliet. Romeo and Juliet is a romantic tragedy. The plot chronicles two star-crossed lovers, which belong to two feuding families, the Capulet family and the Montague family. For the two to be happy they must deceive their families. This is done with the help of Juliets maid and Friar Lawrence. The dramatic play concludes tragically as the couple die, together, in a sad twist of fate. The scene I have chosen to dramatise and direct, as on stage is, Act 1 Scene5. During this scene the two main characters, Romeo and Juliet, meet at the Capulets masked ball. Romeo sees Juliet and is infatuated, he then follows her. Meanwhile Tybalt, a highly respected, powerful Capulet, discovers that Romeo, a Montague, is at the party, Tis he the villain Romeo. Tybalt is told not to pursue Romeo and let him be, by Sir Capulet It fits when such a villain is a guest; I shall not endure him. Approaching the end of the scene Romeo finds Juliet. He takes her behind a curtain, and tries to kiss her My lips, two blushing pilgrims, ready stand to smooth that rough touch with a tender kiss, She gives in after playing hard to get, and the two kiss twice. Juliets maid then interrupts and tells Juliet that her mother wants to talk to her Madam your mother craves a word with you. Juliet goes, and Romeo leaves the party. At the end of the scene Juliet asks her maid what was Romeos name, She answers, His name is Romeo, and a Montague; The only son of your great enemy. On that note the scene ends. In the scene leading up to this, the Montagues were deciding whether or not to crash the Capulets party. We find out more about Romeos best friend and companion Mercutio, this character plays a large role in this scene, and also later in the play. Romeo then enters the party disguised in a mask. In the scene following on from mine, the party has ended and Romeo intrudes into the forecourts of the Capulet Mansion. Romeo then goes to Juliets balcony. Then the sentence that is most well known, O Romeo, Romeo! wherefore art thou Romeo? Deny thy father and refuse thy name; or, if thou wilt not, be but sworn my love, and Ill no longer be a Capulet. is proclaimed. This is an example of irony, because Romeo is actually hidden very near the balcony from which she is speaking. She then encounters him later in the scene Romeo and the two embrace romantically before nearly being caught. During Act 1 Scene 5 we discover some important information about some of the main characters, such as Romeo, Juliet, Juliets Nurse and Tybalt. We learn that Romeo has strong feelings towards his newfound love Juliet, and he seems anxious to pursue these feelings. We also learn that Romeo is about nineteen years old. He is also a Montague, and only son of his father Sir Montague. Juliet is young but is mature, she is about thirteen years old. She is a Capulet. Also she is the only daughter of Sir Capulet. This proves a difficulty later in the story. Tybalt is the henchman of Sir Capulet. He is very powerful and seems to be second in command to Sir Capulet. Juliets nurse is understanding of Juliets new found love. She is he one who walks into the two would be lovers first embrace. She accepts that Romeo is a Montague, the enemy of the family she works for, and doesnt hold it against him. She actually acts as a go between, later in the story. She is the one who delivers the news to Juliet, that Romeo is a Montague. In this scene I am trying to draw out the love and passion of the two characters. I want to show that even though the two families despise each other, Romeo and Juliet would put that behind them, as their love is so strong. I want to point out that Romeo is infatuated with Juliet and the audience should be aware of this. O, she doth teach the torches to burn bright! It seems she hangs upon the cheek of night like a rich jewel in an Ethiopes ear; beauty too rich for use, for earth too dear! So shows a snowy dove trooping with crows, as yonder lady oer her fellows shows. The measure done, Ill watch her place of stand, and, touching hers, make blessed my rude hand. Did my heart love till now? Forswear it, sight! For I neer saw true beauty till this night. This is what Romeo says when he first sets eyes on Juliet, and it is a great example that he is infatuated with her.

Coca Cola Case Essay Example

Coca Cola Case Essay Example Coca Cola Case Essay Coca Cola Case Essay About Coca Cola Coca Cola sells over 400 brands in over 312 countries 90 billion servings of coke are consumed each day Coca Cola is a multinational company (MNC) it operates in more than one country across the world It is bottled in 200 countries Multi national companies MNCs also have many other characteristics : Huge Profits Well known brands Large numbers of employees Headquarters mainly in MEDCs Why is Coca Cola located in India? Manufacturing the product in the country you sell it has many advantages : The cost of labour is a lot lower in India which mearns higher profits It reduces transport costs hich also mearns higher profits Legislations on working conditions, workers rights , health and safety and the environment are less strict in India . India offer initiatives such as low tax to try and get Coca Cola to invest in their country so this also raises profits Both India and Coca Cola benefit from the investment It widens the market so there are more consumers which increases profit Weaknesses of Coca Cola in India Lack of knowledge about Indian culture in detail Lack of marketing expertise in the Indian conditions Hazardous by products and health issues ? Facing issues with water exploitation and resource exploitation all over the world Difference in management styles Indian tendency to avoid foreign products Strengths of Coca Cola in India Reputed brand Global brand recognition Bottling system Technological advancement Efficient management system Good marketing knowledge Growlng Inalan market The problems with Coca Cola Social Coca Cola has been linked to many different health problems , all of which have been thoroughly investigated yet Coca Cola arent willing to do anything about it. Phosphoric Acid in Coca-Cola and D iet Coke has been shown to destroy bones by contributing to osteoporosis and destroying teeth. Aspartames neurological side effects include blurred vision, headaches, seizures and more Over consuming can lead to death as did a 31 year old woman Natasha Harris who drank 2. 6 litres on average a day. These Health risks lead to obesity which is on the rise . Obesity leads to other health problems such as liver failure and Diabetes Colombia Pan-American Beverages (Panamco), Coca-Colas main bottler in Latin America, has been criticized for its relationship with unions. In Colombia, it has been alleged that the bottling company hired paramilitary mercenaries to assassinate union leaders. These charges have resulted in several court cases and boycott actions against The Coca-Cola Company. To date, there have been a total of 179 major human rights violations of Coca-Colas workers, including 9 murders. Family members of union activists have been abducted and tortured. Union members have been fired for attending union meetings. The company has pressured workers to resign their union membership and contractual rights, and fired workers who refused to do so. Environmental In a number of districts of India, Coca Cola and its subsidiaries are accused of creating severe water shortages for the community by extracting large quantities of water for their factories, affecting both the quantity and quality of water Protests against the Coco Cola factories have taken place in a number of districts including: MehdiganJ near the holy city of Varanasi; Kala Dera, near Jaipur, RaJistan; Thane district in Maharashtra; and Sivaganga in Tamil Nadu. Ground water exploitation case in Kerala In 1999, the Hindustan Coca-Cola Beverages Private Limited, a subsidiary of the Atlanta based Coca-Cola company, established a plant in Plachimada, in the Palakkad district of Kerala, southern India. Coca Cola drew around 510,000 litres of water each day from boreholes and open wells. For every 3. 75 litres of water used by the plant, it produced one litre of product and a large amount of waste water. This is an extremely large amount of water to be wasting especially wnen clean water Is very rare In most communltles In Kerala.ews. php

The 1980s American Economy

The 1980s American Economy In the early 1980s, the American economy was suffering through a deep recession. Business bankruptcies rose sharply compared to previous years. Farmers also suffered due to a decline in agricultural exports, falling crop prices, and rising interest rates. But by 1983, the economy  had rebounded and enjoyed a sustained period of growth as the annual inflation rate stayed below 5 percent for the remainder of the 1980s and part of the 1990s. Why did the American economy experience such a turnaround in the 1980s? In â€Å"Outline of the U.S. Economy,† Christopher Conte and Albert R. Karr point to the lasting impacts of the 1970s, Reaganism, and the Federal Reserve. Impact of  the 1970s The 1970s was a disaster on American economics. The recession marked the end of the post-World War II economic boom, and the United States experienced a lasting period of stagflation- a combination of high unemployment and inflation. Voters held Washington politicians responsible for the economic state of the country. Upset with federal policies, they ousted President  Jimmy Carter in 1980 and voted in former Hollywood actor and California Gov.  Ronald Reagan  as president, a position he held from 1981 to 1989. Reagans Economic Policy The economic disorder of the 1970s lingered into the beginning of the 1980s. But Reagan’s economic program soon had an effect. Reagan operated on the basis of supply-side economics- the theory that advocates lower tax rates so people can keep more of their income. Proponents argue that supply-side economics results in more savings, investment, production, and, ultimately, greater economic growth. Reagan’s tax cuts mainly benefited the wealthy, but through a chain-reaction, they also helped lower-income earners as higher levels of investment eventually led to new job openings and higher wages. The Size of the Government Cutting taxes was only one part of Reagan’s national agenda of slashing government spending. Reagan believed the federal government had become too large and interfering. During his presidency, he cut social programs and worked to reduce or eliminate government regulations that  affected the consumer, workplace, and environment. But he did spend on the military. In the wake of the disastrous Vietnam War, Reagan successfully pushed for big budget increases for defense spending by arguing that the U.S. had neglected its military.   Growing Federal Deficit In the end, the reduction in taxes combined with increased military spending outweighed the spending reductions on domestic social programs. This resulted in a federal budget deficit that went well beyond the deficit levels of the early 1980s. From $74 billion in 1980, the federal budget deficit ballooned to $221 billion in 1986. It fell back to $150 billion in 1987, but then started growing again. Federal Reserve With such levels of deficit spending, the Federal Reserve remained vigilant about controlling price increases and raising interest rates any time they seemed a threat. Under the leadership of Paul Volcker and his successor Alan Greenspan, the Federal Reserve effectively guided America’s economy and eclipsed Congress and the president. Although some economists were nervous that heavy government spending and borrowing would lead to steep inflation, the Federal Reserve succeeded in its role as an economic traffic cop during the 1980s.   Source Conte, Christopher and Karr, Albert R. â€Å"Outline of the U.S. Economy.† U.S. Department of State, 2001, Washington, D.C.

Discussion Assignment Example | Topics and Well Written Essays - 1000 words

Discussion - Assignment Example Information gained contributes to the enhancement of purchase intentions. Further on the consumer moves forward in search of other competitors related to the same product category and then selects the one that best suits one’s need and purchase potentials. In this stage the consumer tends to deal with a plethora of options relating to the product and chooses the one that turns out to be the most applicable. Finally the consumer generally in the course of making high price purchases like luxury cars tends to continually revaluate the decision by focusing on gaining more information that further reinforces one’s purchasing intentions (Baines, Fill and Page 83-86). Automobile companies like General Motors to increase the level of consumer attention tend to enhance their relationship aspects has created a website that helps the consumers choose between a large number of options to select the vehicle suiting their needs. Further the website also informs the consumers relatin g to the different financing options and also the cost parameters related to the different models. General Motors in such ventures also tends to present to the consumers a comparison between its models with other models produced in the same category by its competitor firms. This mode of communication rendered enhances the dimension of consumer loyalty for the luxury goods company here acts as an effective advisor tending to meet the needs of the consumer. Moreover the level of consumer advocacy is enhanced by firms like General Motors inviting the people to take test drives of their models for a continual period of 24 hours. This strategy pursued helps in enhancing the consumer’s relation to the commodity thereby rightly increasing the likelihood for the purchase (Urban 77-81). Thus it is evident that use of information technology has contributed to the development of customer relationship activities for the luxury goods and vehicle companies thereby contributing to the devel opment of brand awareness. The enhanced use of internet based marketing and promotional events contributes to the pulling of consumer interests for the commodities in the pursuit of creating increasing the level of consumer awareness (McGovern, Court, Quelch and Crawford 74). Consumers of luxury good and vehicles further tend to search of new and innovative relationship aspects with the respective companies in the form of evidence of loyalty ventures through which they can earn rebates and occasional or promotional discounts. Introduction of loyalty schemes and creation of loyalty club by the companies tends to excite further consumer attention and interest in procuring the merchandises concerned from the concerned companies (Fournier, Dobscha and Mick 48). Consumption of a Luxury-Car from the Experimental Perspective The consumption patterns of consumers in terms of procuring luxury cars and merchandises tends to be largely governed by the opinions, value sets and attitudes develop ed by them in relation to their existing social and cultural framework. Again the preference patterns of the consumers are also governed in terms of the ideologies reflected by the different groups to which they relate to. Social and cultural affluences along with group influences tend to largely govern the purchasing patterns of the c

Revolution of the American Health Care Industry Research Paper

Revolution of the American Health Care Industry - Research Paper Example From this discussion it is clear that  America has undergone six eras of healthcare reforms namely the charitable era, government era, consumerism era, educational era, insurance era, and the managed care era. The health care of the United States began evolving even before the America was founded, particularly the charitable era. During the charitable era, healthcare institutions such as hospitals and dispensaries were non-existent. Most of the patients depended on well-wishers and charity organizations to take care of their medical needs.This essay discusses that  the physicians used primitive medical procedures in treating patients and they often offered free services. Then came the dictation era during which the United States introduced medical education as a way of equipping the health physicians with the requisite medical skills. America underwent major revolution during this era in terms of the institutionalization of the health care industry Ehrenreich, B., & English, D.  The federal government had provided leeway for organizations and health care insurers to operate. In essence, such organizations operated without any plan and the dispensaries available faced many challenges along the way.  From the late 20the century onwards, the managed care movement advocated for the reduction of the cost of providing health care services in the United Sates. In addition, managed healthcare has seen the improvement of the quality of health care services in America.

Work & non-work Essay Example | Topics and Well Written Essays - 2250 words

Work & non-work - Essay Example This would call for effective planning, that is, creation and maintenance of a working strategy or policy, combined with organizing the available resources and leading/ directing the work force and finding the best combination of resources and capital to match them with the available time span of the project (Drucker & Maciariello, 2008). Effective work management should help both the team members and the management to understand and organize their work better; evolve into a more collaborative process that gives individuals control over what to do and when to do it, and in one way or the other promote specialization to ensure that employees do what they understand best (Easterby-Smith & Thorpe, 2008). This promotes democratization at work place empowering workers to give maximum value giving management the visibility to the totality of the project and other works, and to create workplace harmony by enfranchising workers and/ or and demonstrating the innovative aspect of each worker a t his/her unit. From this we can define work as sustained physical or mental effort; energy expanded by natural phenomenon whereby one exerts strengths or faculties to solve a given problem, or the specific duties and assignments performed by one as means of livelihood and means to achieve a predetermined and mutually beneficial objective. Non-work on the other hand can be viewed as the other activities that do not directly involve exertion of energy/ faculties but are in line with human development process and help to promote productivity (Creager, 2011), time spent away from the chore duties in daily life or work life; usually for pleasure and refreshment or reflection of the previous periods, a prerequisite for productivity at work place. The greater prevalence of single parenthood and dual careers in the workforce has resulted employees trying to juggle between demands at home and work which can result into work- family conflict, where demands of home and work interfere with eac h other making it difficult to combine both activities. This paper will analyze the various job-related relationships, their merits and demerits; causes and their impacts to the work and family environments, evaluation of jobs in relation to technology, social stratification, gender and the nature of the job. Spillover Spillover in this context may refer to the overall impacts of individuals work life, positive and negative, in relation to their personal growth and development and/ or family life, that is, how the individual’s work- perceived emotions affect his/her life and the impacts in other social structure/ environment around him/ her. Spillover can largely be influenced by the need to maintain a work-life balance which involves prioritization, planning and personal organization on career and profession/ lifestyle, that is, pleasure, leisure, spiritual development and meditation and/or health (Young, 2012). A perfect combination of these factors will ensure individual p erforms best at work and in other areas, for instance, good health will ensure an individual performs his/her duties correctively and timely despite the field that one is in as long as there is effective training. The spillover can be positively felt within individual’s social structure, the family and the society, and in the work place in that a clear career definition helps individual plan responsibilities and allocate ample time within the cause of the day, month, or annually; giving him/her time to attend to other functions which are essential for human development (Reis & Sprecher, 2009). For instance, work spillover can be felt through the non-work effects of relaxation of leisure, that is, when an individual has had a break from his natural duties at work (Levis, 2011),

Homework Assignment Example | Topics and Well Written Essays - 250 words - 3

Homework - Assignment Example ng if or not the kanban system is the modern equivalent of Economic Quantity Research system and whether or not, the operating conditions are more important than the reorder point system used. According to the World Wide Web, kanban may be defined as a system that is designed to ensure that sufficient tools/supplies for workers for when and where they need it. In other words this production system is designed for continuous manufacturing. This system is most times compared to a supermarket. For example a supermarket that uses a Point-of-sale (POS) system, once a customer pays for something through the cash point and the items are scanned, at the end of the day, it sends the sale history to the warehouse. From there they will know what to order to replenish stock. In contrast to the Economic Order Quantity Research (EOC), which is basically an equation used to determine minimum and maximum stock levels they perform the same duties and provide satisfactory results. I believe they are similar in more ways than one but the main difference is the way they are carried out. 2. There is considerable evidence that getting the correct operating conditions is more important than the choice between MRP, kanban, or reorder point methods in the MPC system. How general do you believe this situation to be? Generally, I agree reason being, all the methods mentioned above provide basically the same results with little difference in calculation methods and time. So most definitely the only thing that would hinder positive and profitable results would be conditions under which they are

Hedging risk exposure and arbitrage Term Paper Example | Topics and Well Written Essays - 1500 words

Hedging risk exposure and arbitrage - Term Paper Example Some of the methods include hedging or diversification of risks (Madura, 2014). The investors should choose the best option cautiously not only to eliminate the risk but also to maximize revenue. This document evaluates put option as a hedging strategy in a simulation scenario. Hedging is concurrent acquisition and sale of two equivalent securities having different maturity period with the expectation of gaining from the consequent movements the price of those securities (Bouzoubaa & Osseiran, 2010, p. 78). The investors hold stocks with the expectation that at one point they will be able to sell the stock at a higher price to cover the transaction cost and other cost of holding the stock such as inflation cost (Bingham & Kiesel, 2004). The stocks are sold at a premium, but the sales may have to be delayed. The unit value of stock after price appreciation is equivalent to the marginal cost of holding that security. Anticipation of price increase in the stock value will result to an increase in the current price of the stock (Madura, 2014, p. 342). By hedging the stock investors commit to taking a minimum value of the stock and avoid making loss in case, the value of the underlying security goes below the future value of the contract. However, the hedger risk losing profit in case the value of the stocks exceeds the future contract value. It is imperative to note that the individual’s decision to hedge security does not affect the market condition because the investor transfers the risk to a willing speculator who buys a security. Also, when an investor purchases a security with anticipation that their prices will raise in the future that result in the transfer of risk from the seller to the buyer of the stocks (Madura, 2014, p. 242). However, investors accept risk premium in order to hedge their securities. The implication of risk premium is the fact that the investor has to sell

Reading Responses to a Poem Essay Example | Topics and Well Written Essays - 1000 words

Reading Responses to a Poem - Essay Example Brooks’ poetic style and substance complement each other in producing realist literary wonders, resulting in her being granted the Pulitzer Prize in 1950. It was possible that Brooks herself was influenced by her contemporaries when it comes to form and content (Hacker, n.d.). The point, however, is that when The Pool Players is detached from the consequence of such possibility or not, it is indeed a poem that could only come from poet laureate such as Brooks. Typical of modern poetry, The Pool Players does not use the classical poetic forms that can be attributed to the style of Romanticists. Instead, its form and language is basically colloquial in nature. In just reading the poem, one would have the impression of youths who are just expressing themselves in the simplest language that they are accustomed to; no flowery descriptions, no use of symbolisms, and no adjectives to clarify further what they mean. However, the effectiveness of the poem in delivering its message is d efinitely achieved through the use of such language, coarse or crude it may sound for those whose usual impression of poetry is highly influenced by Romanticist ideals. Brooks herself explained in an interview that the form or language used for the poem was not prompted by an objective related to literary aesthetics, such as colloquial rhythm. Therefore, it could not be attributed to any possible influence of modernist poets, such as Ezra Pound or T.S. Eliot (Stavros, 1970). Instead, it represented how Brooks actually felt about the subjects of her poem, young men or boys who did not believe in the importance of education in their lives and who would rather play pool or stay on the streets until death comes. The effect of the poem on the reader is more profound though primarily because of the simplicity in the language used. The reader would easily get a picture of the scene that the poet wishes to portray. The language is very direct, allowing the reader to immediately get the imag e that poet wants to impart on the reader. However, it is also because of such characteristic that there is a tendency for the reader not to comprehend the deeper meaning behind the conversational verbiage applied. Ironically, this is the main problem with such kind of language and form. Because it appears too simple, it may not encourage the reader to reflect on the meaning. The power of the poem lies in its informality; its simplicity is â€Å"stark to the point of elaborateness†¦ it is virtually coded† (Spillers, 1987, p.225). By using the very language that the pool players themselves use, the reader is taken into the world that Brooks wants to portray. It is apparent that the poet believes that it is only through such method that reader is able to analyze the message and come up with his own impression on the issue being tackled. The poem has eight lines but it is only on the last that the message is made clear but even this would not be understood without the prior seven lines. If the poem had been arranged in a non-lyrical manner, it would have appeared as commonplace as any conversation would be. However, Brooks made sure that even as she used simple language, The Pool Players is still able to uphold its aesthetic value as a literary work. Because of this,

Hedging risk exposure and arbitrage Term Paper Example | Topics and Well Written Essays - 1500 words

Hedging risk exposure and arbitrage - Term Paper Example Some of the methods include hedging or diversification of risks (Madura, 2014). The investors should choose the best option cautiously not only to eliminate the risk but also to maximize revenue. This document evaluates put option as a hedging strategy in a simulation scenario. Hedging is concurrent acquisition and sale of two equivalent securities having different maturity period with the expectation of gaining from the consequent movements the price of those securities (Bouzoubaa & Osseiran, 2010, p. 78). The investors hold stocks with the expectation that at one point they will be able to sell the stock at a higher price to cover the transaction cost and other cost of holding the stock such as inflation cost (Bingham & Kiesel, 2004). The stocks are sold at a premium, but the sales may have to be delayed. The unit value of stock after price appreciation is equivalent to the marginal cost of holding that security. Anticipation of price increase in the stock value will result to an increase in the current price of the stock (Madura, 2014, p. 342). By hedging the stock investors commit to taking a minimum value of the stock and avoid making loss in case, the value of the underlying security goes below the future value of the contract. However, the hedger risk losing profit in case the value of the stocks exceeds the future contract value. It is imperative to note that the individual’s decision to hedge security does not affect the market condition because the investor transfers the risk to a willing speculator who buys a security. Also, when an investor purchases a security with anticipation that their prices will raise in the future that result in the transfer of risk from the seller to the buyer of the stocks (Madura, 2014, p. 242). However, investors accept risk premium in order to hedge their securities. The implication of risk premium is the fact that the investor has to sell

Why Do I Need This Scholarship Essay Example for Free

Why Do I Need This Scholarship Essay My name is , and currently I am a senior at . After high school I plan to go to college and major in Nursing and minor in Physical Therapy. Throughout my life there have been a number of people giving me advice, but the one person that stuck on me the most is Minister George M. Howard Jr. my youth minister. This man has been like a father to me knowing that he will always be there when I need lifts my spirit. Minister George M. Howard Jr. told me that â€Å"It’s not about who you know, it’s about who knows you because there will always be someone watching you†. See more: how to write a winning scholarship essay My dreams and aspirations are to be so successful so that I’m not dependent on anyone else. Ever since I was little I have wanted to be in charge of everyone and everything. To in charge, I first have to obtain the knowledge and in order to do that I have to go to college. I have seen so many people become dependent on others as well as the emptiness in the lives of people who can only do one thing well and I don’t want that happening to me. I plan to work and study hard, make good grades and become the head nurse in the biggest hospital. However, with my new-goal oriented mind, I realize that I am working towards my Nursing degree and my successful future. I finally understand that my least favorite subject will greatly contribute to my ultimate goal of living a rewarding life and fulfilling my career goals. I know that the courses will be challenging, but I am willing to do what it takes to achieve my ultimate goal. Now my appreciation of those classes is stronger than ever because those classes are what will prepare me for my college education. The colleges that I have chosen will not only provide me with hands-on training, but it will also teach me real life skills and communication.

Romantic Love And Consumer Culture

Romantic Love And Consumer Culture A consumerist society is one whose economy is defined by the purchasing and spending power of consumers. Even as it is similar to capitalism, it differs in that it is not as focused on monetary power as it on happiness realized through the ownership of personal property. The initiation of a mass consumerist policy, a product of the Industrial revolution, is therefore often viewed as an effective political alternative to sustain a healthy, well balanced economy (Horowitz, 2004). Ancient Rome and Egypt are examples of early consumerist societies, even as the United States of America is representative of a contemporary successful consumer economy (Horowitz, 2004). Romantic Love is often perceived to be the final repository of the genuineness and warmth lost in a progressively technocratic and legalistic age (Stearns Knapp, 1993). Whilst to some it is symptomatic of ideologies that enslave, to others it is merely a flight from social responsibility (Stearns Knapp, 1993). Romantic love, an intimate and important part of the democratic model of American affluence has concomitantly emerged with the establishment of a mass market. It has also simultaneously adopted as it were, mechanisms of economic and symbolic denominations at work in American society (Stearns Knapp, 1993). Ideologically, capitalism is notoriously Janus like with regard to the degree that it encourages the inclusion of all social classes into the market (Teo, 2009). Whilst it has ensured a common symbolic sphere wherein the twin sets of mass media and consumption are unified, it has also intensified class conflicts and divided social classes into even smaller lifestyle groups (Teo, 2009). Even as capitalism encourages the involvement of everyone in the monetary and symbolic field of consumption, it replicates and sustains itself through the division of wealth and validity of social divisions (Teo, 2009). Capitalism, as an economic system, involve(s) the production and exchange of commodities with the aim of accumulating a surplus value, that is, profit, with some part of this profit being re-invested to maintain the conditions of future accumulation. Capitalism however is also characterized by a cultural mindset whereby exchange in relationships, that of buying and selling, have permeated most of society (Illouz, 1997, p7). Capitalism ascertains the meeting of two parties primarily on the basis of economic benefit and mutual self interest, whereby transactions are justified by analyzing their benefits on the bottom-line of the balance sheet (Illouz, 1997). Romantic love, on the other hand defines relationships between two individuals who are bound together by their capacity to realize spontaneity and empathy in an emotional relationship (Illouz, 1997). In comparing romantic love and capitalism, the former is irrational rather than rational, gratuitous rather than profit oriented, organic rather that utilitarian, private rather than public (Illouz, 1997, p 11). Romantic love therefore seems to elude the regular category, wherein capitalism has been envisaged. This essay intends to understand and analyze the manner in which romantic emotions meet the economy, culture and social organization of advanced capitalism. Discussion and Analysis Sociology, anthropology and history, until the early twentieth century, categorically believed that certain emotions were derivative of subjective, physiological and psychological experiences and not to essentially be associated with study pertaining to symbolic and collective life (Illouz, 1997). Romantic love was relegated to the sociologically awkward part of social life and not discussed in terms of class conflicts, public rituals and social relationships. Recent statistics however indicate that emotions are often influenced by the norms, language, stereotype, metaphors, symbols of culture (Illouz, 1997). Even as sociologists today are keen to establish specific relationships between culture and emotion, they seem hesitant to support the concept of distinct linkages between love and economy. It is generally believed that love, like art and religion is the site par excellence of the social world, whereas culture offers artifacts, stories, symbols and images, wherein romantic ciphers can be recapitulated and exchanged (Illouz, 1997). Many sociologists have in recent years however come to recognize that culture and economy reciprocally constitute each other. Therefore, in order to discuss the relationship between romantic love and consumer culture, it is first imperative to understand the manner in which romance, culture, and economy intersect with each other (Illouz, 1997). Romantic love became a prominent cultural phenomenon in America in the early eighteenth century. Americans, more than other citizens of Western societies, began to determine their marital choices more on the basis of emotional thought than on social or economic considerations (Robbins, 2008). The choice of a life partner was left to be decided by individuals as love was considered to be of prime importance for conjugal bliss (Robbins, 2008). Couple autonomy grew over the years with increasing college attendance resulting in relaxation of family and societal control. The appearance of an alternate social sphere of youth culture validated intimacy with the opposite sex as an important characteristic of socialization into adulthood. The modification of sexual mores alternatively affected the ways in which the youth spent their leisure time, as many of the young began to engage in novel leisure practices of the hetero-social world (Robbins, 2008). The nineteenth century saw the development of dance halls, amusement parks and movie theatres (Robbins, 2008). However, it was only after 1910 that leisure industries began to strengthen their economic power and began implementing monopolistic practices. The cultural landscape was eventually significantly restructured in the early twentieth century as inventions like the high speed printing press, telephone, phonograph, radio and photography expanded access of members of the public to mass culture. The social, cultural and economic changes altered the meaning of love, even as it became an important part of mass media and culture (Robbins, 2008). The nascent national advertising system related romance to a host of attendant values, in addition to leisure, physical attractiveness and consumption (Teo, 2009). This can be observed by the evolution of the image of the couple in the already developed industry of advertising before World War II. An assessment of advertisements depicting couples exhibits how the values associated with love have changed over time (Teo, 2009). Advertising initially depicted the image of the couple, first, with domestic products associated with the comfort of the home and second with ego expressive products associated with self enhancement and expression (Teo, 2009). Additionally, almost invariably and irrespective of the product being advertised, be it soap, shampoo, clothes, or perfume, advertisements carried illustrations of couples in close embrace and in stylish apparel. Opulence and soft eroticism were part of the new model of hot romance exploited by advertisements in their efforts to promote ma ss produced consumer goods( Teo, 2009, p 4). The commoditization of romance during this period therefore began to ambiguously incorporate romantic love into the culture of consumer capitalism. Sternberg, (1998) suggests that our lives consist in battling for legitimacy to purchase commodities. We live in an excessively commodified world with requirements that are created in the interests of the market and that can be met primarily through the market (Robbins, 2008). Illouz (1997), proposes that although the market does not control the entire spectrum of romantic relationships, most romantic practices depend on consumption, directly or indirectly, and consumerist activities have thoroughly permeated our romantic imagination(Robbins, 2008). Today, it is important to spend money to be loveable, to sport the right apparel, perfumes and hairstyles (Robbins, 2008). It is also important to have money to define romantic moments. Romantic moments are in effect similar to religious rituals, processes wherein we reiterate that the world exists essentially in the way in which we perceive it. In commodifying romance, most of these moments have come to be governed by food, drink and travel. Eva Illouz, (1997), observed that even children, who have had no prior romantic experience, mention restaurants when asked to define their concept of the constitution of romantic moments. The commodification of romance has transformed it into a ritualistic process, wherein time and space are self contained. For one to act in love, one should be able to finance and implement the rituals of love; those activities that convey the appropriate meaning to the actors, activities often labeled as romantic moments. At restaurants, The meal, unlike eating at home or at a fast food establishment, is separate from the schedules and constraints of the outside world. An intimate dinner at home becomes special only if it is aided by ritualistic attributes of a restaurant dinner, like candlelight and wine (Teo, 2009, p 4). Another commodity often associated with romantic moments is travel (Teo, 2009). Travel, akin to restaurants, requires freedom and separation from a world guided by effort, work, profit and self interest (Robbins, 2008). Travel entails travel expenses, accommodation expenses and significant contribution to the tourist trade, with the pursuit of the romantic moment thus being elaborated and defined by consumer culture. Travel, in numerous ways involves the commodification of landscape to generate ritual settings to enact the creation and development of romantic relationships (Robbins, 2008). Illouz (1997, p 34), states that Capitalist society has appropriated and destroyed both the natural landscape uncontaminated by the visible hand of capital common to tourist resorts. Travel advertising, with its consistent portrayal of pristine landscapes ironically depicts what has been ruined and made more expensive, all the while denying the presence of money and other commodities. Romantic land scapes are typically the most luxurious and pricey, primarily wild, uncontaminated, isolated and far removed from the industrial world and middle class vacationers. When people recall romantic moments, they however fail to recognize them for what they actually were, namely the commoditization of romance (Robbins, 2008) The culture of Romantic love in Australia, in the early nineteenth century, was similar to that of the United States, Britain and Canada (Teo, 2009). Love was a moral, emotional and spiritual attraction that was deemed to be an important prerequisite to courtship, with companionship and marriage as its ideal goal (Teo, 2009). Romantic Love was believed to have a morally, spiritually and ennobling uplifting effect, especially on men. It was bound up in class consciousness and the demonstration of gentlemanly or ladylike behavior. (Teo, 2009) This was a result of the wider spiritualization of love in addition to partaking in the nineteenth-century belief in evolution and idealism in all aspects of society, most importantly love and morality. Whilst physical attraction was crucial and lovers wrote of their desire for contact, the heart of courtship rested on the exclusive and mutual disclosure of the self (Teo, 2009). In sharing their essence with each other, it was expected that romantic love might produce great unhappiness, bitterness and despair, as well as ecstasy and a feeling of empathy and completeness. (Spurlock, 1998, p 2) Since marriage was often taken for granted and often considered the chief aim and accomplishment of romantic love, almost everything that was a part of married life could probably be understood as a characteristic of romantic love(Spurlock, 1998, ). Some lovers therefore felt that they did not essentially expect love to produce consistent happiness after getting married as they differentiated between the emotional fulfillment and physical thrill of infatuation while courting, and the steadier, more mundane serenity of married love in which bouts of boredom or apathy might well be expected in the cycles of domestic life (Teo, 2009) Whilst certain features in the conventional idea of romantic love still exist, most nations have begun to develop an increasingly American and ritualistic understanding of romantic consumerism as an important expression of love (Robbins, 2008). As exhibited in the article, Money Can Buy You Love, in the Sydney Morning Herald on 14 February 2005, Con Stavros observed that Valentines Day has become less about intimacy than the grand, expensive gesture: the jewelry, the mink coat, the impromptu hot air balloon ride Marketing has transformed Valentines Day into a festive enterprise, If you go back even a decade, people used to just exchange private cards and have some kind of romantic [dinner]. These days the gift has to be public, conspicuous people [at work] ask each other: What did you get? (Robbins, 2008, p 61) Although the process of romantic consumerism may have become more excessive in prominent ways at the beginning of the twenty-first century, the development of this occurred in unequally gendered ways in the first half of twentieth century as consumer culture across the world became Americanized (Robbins, 2008). Whilst evaluating the consumerist quotient of romantic love in the twenty first century, it is important to observe its role in the functioning of society (Zax, 2009). Romantic love, in addition to establishing basis for marriage and reproduction, contributes to feelings of solidarity and social order. Since it involves the use of commodities, Romantic love encourages people to acquire an income. It is however important to realize the commodification of romantic love has aided in debasing or trivializing the romantic bond (Zax, 2009). The need for money has reduced spontaneity and naturalness in love and inhibited those with without money to act in love. (Zax, 2009) Whilst people do feel empowered with the experience of romance, it is important to realize that commodities primarily serve as potent aids for merely the dramatization of expression and should therefore be regarded as such. Conclusions This essay aims to discuss the relationship between romantic love and consumer culture. A consumerist society is defined by the purchasing and spending power of consumers, but differs from capitalism in that it is not as focused on monetary power as it on happiness that can be achieved through ownership of personal property. Romantic Love, perceived to be a repository of genuineness, is an intimate component of modern American affluence. It has now become inextricably linked to the mass market and adopted the economic mechanisms of American society. Sociology previously advanced the theory that that certain emotions were derivative of subjective experiences and not to be associated with study of symbolic and collective life. Romantic love was thus not discussed in terms of class conflicts, public rituals and social relationships. It however became an important cultural phenomenon in the early eighteenth century, with people, especially Americans determining their marital choices on the basis of emotions than on social or economic considerations. The advertising systems also started relating romance to numerous values, in addition to leisure, physical attractiveness and consumption. Advertisement, irrespective of advertised products, started carrying illustrations of couples in close embrace. The commoditization of romance has incorporated romantic love into the culture of consumer capitalism. Romantic moments are now strongly associated with food, drink and travel and have become intensely commoditized. Whilst certain features of conventional romantic love still exist, most nations have developed an American and ritualistic understanding of romantic consumerism as an expression of love. The need for money has reduced naturalness in love and inhibited those without it to act in love. Whilst the experience of romance does empower people, it is important to understand that commodities serve mainly as aids for dramatization of expression and should be regarded as such. Romantic love certainly contributes to feelings of solidarity, involves the use of commodities, and encourages people to acquire incomes. It is however also important to realize that commoditization of romantic love debases and trivializes romantic bonding and be able to sift genuine emotion from its consumeri st manifestation.

David Wu Essay -- Biography Biographies Bio

David Wu (Oregon's 1st Congressional District) David Wu is a member of the 110th Congress representing Oregon's 1st Congressional District. Wu was sworn in for his fifth term earlier this year on January 3, 2007. Stretching from Portland to the Oregon coast, Oregon's 1st congressional district has a population of 743,195. Congressman Wu's priorities include: improving our nation's public education system and making college more affordable; growing Oregon's economy by encouraging new business investment and supporting high tech research; improving our nation's healthcare system and the Medicare prescription drug benefit; and meeting our obligation to future generations by preserving Social Security and protecting our natural environment. David Wu was born on April 8, 1955 in Taiwan. He grew up in Portland, Oregon and has an impressive academic background that includes receiving a B.S. from Stanford University, a J.D. from Yale, and having attended Harvard Medical School. Wu is married to his wife Michelle and has two children. Wu started as a lawyer in the Portland area. His career includes a clerkship with a Federal judge in Portland, and in 1988 he co-founded the law firm Cohen & Wu. The firm served both the high technology industry and small business across Northwest Oregon. Wu is the only Chinese-American to serve in the United States House of Representatives. He currently is a member of the Executive Board for the Congressional Asian Pacific American Caucus and served as Chair from January 2001 to January 2004. Congressman Wu is also a member of the New Democrat Coalition (NDC), a group of moderate Democrats in the House. As stated above, Oregon's 1st Congressional District has a total population of ... ...rgely in part to the emergence of Silicon Forest. The district has an extremely high level of educated people, a low unemployment rate, and a low poverty level. It is very democrat, and has a found a representative they like in David Wu, now serving his fifth term for the district. Wu is active in the house, serving on many committees and subcommittees, and he has the distinction of being the only Chinese-American to ever serve in the U.S. House of Representatives. Under his service Oregon's 1st Congressional District has thrived economically, which he lists as one of his proudest accomplishments. Also, another one of his key objectives was education, the districts high school and even college graduation rate is astounding. All in all David Wu has done a great job both pleasing his constituents and making Oregon's 1st Congressional a great place to work and live.

The Farm Essay -- Personal Narrative Writing

The Farm In the summer, the creek bubbles and the leaves are in bloom. In the winter that same creek is frozen and everything around it is blank and barren. The memories for me in this part of the world are unforgettable, even though some are happier than others. I can still remember a particular dreadful event on the farm like it was yesterday. I was walking through the house on a hot summer day. I dare not go outside because I knew I'd die of heat exhaustion. In the house alone were my sister and I. My mother had run into town to do some errands, and my dad was out on the farm doing some chores. The phone rang and I casually picked it up. It was my dad. â€Å"Adam,† he said, sort of anxiously, â€Å"I need you to come down the lane and give me a hand.† My sister was listening in on the conversation as usual, and my Dad dared not to give me any specifics because he knew of this. As I apathetically told him yes, I went on to the porch, grabbed some shoes and wondered what on earth he could possibly need help with. I stepped outside and the burning sun immediately attacked me. I had no doubt that if my Dad needed a hand with some hard work it would be dreadful. Just two weeks earlier he needed me to help him put some barbed wire on some fence posts. It was an awful job, and may have been the worst two hours of my life. I had helped my Dad on the farm throughout my childhood, and I knew by the particularly terrible jobs I had to help him with before, that I should always fear when he asked for help. I hopped into my steaming hot truck and started back down the lane. As I drove down further back, I remembered the terrifying tornado that had struck our house, and had ripped an entire line of trees out of the ... ...m high school here. I had also spent times playing make-believe with my brother during my elementary years. I had even gone as far as attempting to raft down the little flooded creek. What a great place, how could I ever forget it? We dug a hole right under some old, dried up looking trees. We threw her down about three feet and buried her. The one animal that had been important throughout my entire childhood was now gone. The one place that was important my whole childhood, I was about to leave. The trees, the grass, the creek and the lane, so important, yet it was time to leave them. As I had left Patch, I had left the farm. I haven’t been on the farm behind my house for the two years since Patch’s death. I guess it was time for me to grow up. I miss my dog, and I miss being young. But life goes in circles, and it’s always time to start anew.

Arguments for and Against Genetically Modified Food Essay

â€Å"Biotechnology involves any technique that uses living organisms or parts there of to make or modify products, to improve plants or animals or to develop micro organisms for specific uses† (Dr Sriwatanapongse, www. afic. org) In the past century we’ve have been lucky enough to stumble upon one of the basic building blocks of organisms, DNA. In recent years scientists have been able to develop ways in which they can manipulate, alter, and transfer DNA in forms that can help improve our lives. One way in which DNA research has been used to improve our lifestyle, is by engineering the deoxyribonucleic acid into ways which can alter food supplies to make them bigger, taste better, resistant to pests and even make them have a greater concentration of nutrients. Of course this is great news to the human population, in terms of economic and life-saving values for third world countries, yet there are still disadvantages. With all the good news that comes from these altered crops, concerns are still among people. These concerns include; whether or not these alterations will affect humans in a negative way, or how they will impact the environment. Genetically engineering crops might play a significant role in increasing crop yield therefore allowing the world to feed more people while using less land. A recent study on bioengineered crops concluded that these crops are safe and can improve production dramatically. â€Å"To date, total acres of biotech crops harvested exceed more than 1 billion with a proven 10-year history of safe use. Over the next decade, expanded adoption combined with current research on 57 crops in 63 countries will broaden the advantages of genetically modified foods for growers, consumers and the environment. † (www. monsanto. com) Those opposing the genetically altered crops state that â€Å"One major detriment to genetically engineered food is that there has been no adequate testing to ensure that extracting genes from useful functions will yield the same results in different applications and species† (www. govhs. org). Predictions of future are that, consumers are able to get foods that last longer, taste better and are more nutritious than the current foods. There will also an even greater variety of foods all year round. These products will be made possible through genetic engineering, and some of them are already available. For centuries, farmers grew plants to produce special foods with unique characteristics: better taste, higher yield or greater resistance to drought or frosts. History shows, that five thousand years ago in Peru, potatoes were grown selectively. Plants, which produced potatoes with attractive characteristics, such as higher yields, were used to produce future plants. More than two thousand years ago, tree grafting was used by the Greeks to Gain a more fruit in orchards. Now, we have genetically engineered food that has been discovered and now offers a faster and more reliable method of establishing new traits in plants to provide foods that are better tasting, more nutritious or more in amount. Although all of this may seem futuristic, such crops do already exist. Not only have these crops been in laboratories for decades, but they have been in the market for years. Humans have only just begun to realize the benefits of these genetically altered foods. Genetically altered foods allow a wide selection of things to improve upon. Some altered abilities already exists in our fruits and vegetables, these include: pest, disease and herbicide. By using genetic engineering, plants that resist disease, pests or insects can be developed. This means that less chemicals, such as pesticides, are required. In the near future scientists hopefully will be able to â€Å"improve the drought resistance of most crop species and could have major implications for crops grown in dry areas† (www.abc. net. au/news). Weather resistance Plants could and can be developed to better withstand extreme weather conditions such as drought or frosts. Genetically engineering foods make crops easier to maintain and lower the cost in maintenance. One benefit of altered foods which is often overlooked is the Improved processing characteristics of these foods, leading to reduced waste and lower food costs to the consumer. Foods are being developed to contain more vitamins, minerals, protein and less saturated fat. For example, fruits and vegetables with higher levels of antioxidant vitamins â€Å"may reduce cardiovascular disease risk and help reduce the risk of certain cancers† (www. americanheart. org). The world population is expected to double to more than 10 billion people by the year 2050. Food biotechnology can help meet the increasing demand for food. â€Å"By increasing a crop’s ability to withstand environmental factors, growers will be able to farm in parts of the world currently unsuitable for crop production. Along with additional food, this could also provide economies of developing nations with much-needed jobs and greater productivity. Genetically engineered foods seem to have solved all the problems farmers and growers have had for years. Unfortunately all the positive effects of altered foods seem to mask the reality behind these perfect crops. Some of the disadvantages of altered crops include the possibility of mutations. â€Å"Plant breeders have induced mutations in selected plants by treating them with chemicals or radiation; however this is costly and unpredictable† (Microorganisms, biotechnology and Disease). Genetic engineering changes the nature of the food eaten. It can cause unexpected mutations in an organism, which can create new and higher levels of toxins in foods. Genetic engineering can produce unknown allergens in foods. Some foods may be implanted with the ability to produce antibiotics. This may help the plant, but if these plants that are infected with bacteria emerge new strands of bacteria that may become resistant to the most advanced antibiotics, there will be a problem. With herbicide-resistant crops, weeds may evolve to also become herbicide resistant. The spread of diseases across specific species may also become a factor because of a loss of ? bio-diversity’ in crops. When crops are altered for specific abilities, they are then mass produced. They are the only type of species grown in field of thousands. Because of this, the species will only be able to pass on to all generations the same DNA. Once started, they may not be easily controlled or contained. It makes the crops hard to calculate. Unfortunately the biggest problem raised from new modified foods is the fact that the public is unaware of how it works and the results behind the genetically modified food. Deoxyribonucleic acid (DNA) is the genetic code in living organisms. About twenty five years ago, scientists began to understand how DNA worked. From this ways for speeding up breeding processes were understood to a degree. Agricultural scientists today can identify the genes that carry specific traits they want, such as ? disease resistance’ or ? nutrient content’ and transfer those genes to a plant, therefore creating a transgenic organism. Genetic engineering is the process of artificially modifying these ? blueprints’. By cutting and splicing DNA, engineers can transfer genes specific to one type of organism into any other organism. Some organisms have been enhanced through biotechnology such as; tomatoes, that go ? soft’ more slowly and so remain on the vine for longer. This gives them more colour and flavour. Also, virus resistant papyrus and squash, that make the crop more dependable. Genetically modified food seems to have already changed the world today. Many countries are already considering making more of their crops with genetically engineered properties. Scientists have gained a vast knowledge of genetic engineering and are now able to make many possibilities. Genetically engineered food has brought a lot of commercial benefits; increased crops quality, harvesting quantity, pest resistance, herbicide resistance, nutrient supplementation and more. Not only have the crops improved, but more crops are produced in less space. Although the benefits of bioengineering seem fantastic, there are still many mysteries left to understand in such a vast field of understanding. Genetic engineering might cause serious consequences to our future life as well next generations to come. Deeper insight into genetic engineering may be all that is needed for us to gain truly unlimited advantage from such a vast scientific field.