An Analysis of The Arbitrage Pricing Theory - Free Essay Example

Sample details Pages: 11 Words: 3291 Downloads: 5 Date added: 2017/06/26 Category Finance Essay Type Analytical essay Did you like this example? The Arbitrage Pricing Theory (APT) was developed primarily by Ross (1976a, 1976b). Indeed, it is a one-period model in which every investor believes that the stochastic properties of returns of capital assets are consistent with a factor structure. The basis of arbitrage pricing theory is the idea that the price of a security is driven by a number of factors. Don’t waste time! Our writers will create an original "An Analysis of The Arbitrage Pricing Theory" essay for you Create order These can be divided into two groups: macro factors, and company specific factors. The name of the theory comes from the fact that this division. Each F is a separate factor and each ? is a measure of the relationship between the security price and that factor. The APT: Assumptions The APT relies on the following assumptions: Returns are generated according to a linear factor model The number of assets is close to infinite Investors have homogenous expectations Capital markets are perfect (i.e. perfect competition, no transactions costs The APT: Factors Even if, the arbitrage pricing theory does not explicitly state the relevant macro economic factors, they can be empirically constructed. As a matter of fact, it has been observed that the following factors tend to influence the price of the security under consideration: Change in industrial production or GDP. Unanticipated inflation or deflation. Shifts in the Yield Curve Investor confidence measured by surprises in default risk premiums for bonds Changes in oil prices (proxy for price level) The Capital Asset Pricing Model In finance literature, the  capital asset pricing model (CAPM) is used to determine a theoretically appropriate required rate of return of an asset, if that asset is to be added to an already well-diversified portfolio, given that assets non-diversifiable risk. The model takes into account the assets sensitivity to non-diversifiable risk (also known as systematic risk or market risk), often represented by the quantity beta (?) in the financial industry, as well as the expected return of the market and the expected return of a theoretical risk-free asset. The CAPM, is a model, for pricing an individual security or a portfolio. For the individual securities on the other hand the security market line (SML), The general idea behind CAPM is that investors need to be compensated in two ways: time value of money and risk Based on the Markowitzs mean-variance model, the  CAPM  inherits all the shortcomings of the latter in addition to its own assumptions such as: 1. Inves tors are rational and risk averse. They pursue the only interest of maximizing the expected utility of their end of period wealth. Implication: The model includes the single time horizon for all investors. 2. The markets are perfect, thus taxes, inflation, transaction costs, and short selling restrictions are not taken into account. 3. Investors can borrow and lend unlimited amounts at the risk-free rate 4. All assets are infinitely divisible and perfectly liquid. 5. Investors have homogenous expectations about asset returns. In other words, all investors agree about mean and variance as the only system of market assessment, thus everyone perceives identical opportunity. The information is costless, and all investors receive the same information simultaneously. 6. Asset returns conform to the normal distribution. 7. The markets are in equilibrium, and no individual can affect the price of a security. 8. The total number of assets on the market and their quantiti es are fixed within the defined time frame. The Implications The investors will choose to hold a portfolio of risky assets in proportions of the market portfolio. Market portfolio will be on the efficient frontier and will be the tangency portfolio to the optimal capital line. Hence, the capital market line will be the line from the risk free rate through the market portfolio, M, which is also the best attainable capital allocation line. The risk premium on the market portfolio will be proportional to its risk and the degree of risk aversion of the investor. The risk premium on individual assets will be proportional to the risk premium on the market portfolio, M, and the beta coefficient of the security relative to its market portfolio. The CAPM formula: Ri = Rf + ?i (rm-rf) Whereby Ri is the expected return by CAPM, rf is the risk free rate, rm is the market return and ?i is the risk factor. The security market line Expected return sml Rm Rf beta The SML essentially graphs the results from the capital asset pricing model (CAPM) formula. The x-axis represents the risk (beta), and the y-axis represents the expected return. The market risk premium is determined from the slope of the SML. The security market line is a useful tool in determining whether an asset being considered for a portfolio offers a reasonable expected return for risk. Individual securities are plotted on the SML graph. If the securitys risk versus expected return is plotted above the SML, it is undervalued  because the investor can expect a greater return for the inherent risk. A security plotted below the SML  is overvalued  because the investor would be accepting less return for the amount of risk assumed. Capital asset pricing model has the following limitations: It is based on unrealistic assumptions. It is difficult to test the validity of Capital asset pricing model. Betas do not remain s table over time. Empirical Literature Review Empirical tests of APT and CAPM Empirical tests of the APT have been questionable because no two researchers could agree on the value of the coefficients of any of the exogenous variables (Chen 1983, Chen, Roll and Ross 1983, Roll and Ross 1980, Kryzanowski et al 1994). Kryzanowski et al (1994) showed that the explanatory variables are correlated. Hard work to generate orthogonal factors results in one principal factor and APT models that retain multiple explanatory variables are unstable. A closer look at Chen (1983) reveals these aspects of APT research. Chen, a great fan of the APT, reports that he was unable to find any evidence that the APT is not valid. In each case, his null hypothesis was that the APT is valid; and in each case, he was unable to reject this hypothesis. N.Soufian (2001) examined the validity of the CAPM and APT across time during three sub samples for periods (1980-1989 and 1990-1997). This study demonstrated how risk premium, term structure, changes in industrial production affect a verage returns. The assumption of a constant beta is the major difficulty in the empirical support of static CAPM and its factor models when applied across time. It is however clear that the APT is much better behaved than the CAPM. In J Shankens study (1982), the CAPM model, was not found to be testable in a strict sense. Much of this acceptance can be attributed to the persuasive analysis of Roll, who argues that the CAPM, is not testable unless the market portfolio of all assets is used in the studies. The APT of Ross, is viewed as a testable substitute to the CAPM. OTHER EMPIRICAL STUDIES Indeed, over past years the link between macroeconomic variables and stock market returns has been well documented in the finance literature. Several studies depicted that macroeconomic variables influence stock market to a great extent. Numerous interesting results have also been found, but both the academics and the practitioners have not arrived at a consensus on the direction of the causality among these variables, which have at times led to ambiguity in the studies. The vector autoregressive VAR, by Sims (1980), was used to find short run causality between macro economic variables and stock prices. As a result, it was found that macro economic variables do affect stock returns greatly. Darrat and Mukherjee (1987) used a vector autoregressive model on the Indian data over 1948-1984 and showed that a causal relationship do exist between stock returns and macro economic variables. Granger (1986) and Engle and Granger (1987) concluded that the soundness of long term equil ibria between variables can be studied using cointegration methods. In fact, they have been applied to the long run relationship between stock prices and macroeconomic variables in numerous studies. The Johansen (1988), method of testing for the existing of cointegration relationships has become the standard in the econometrics literature. His multivariate cointegration test favored long run equilibrium relationship between financial and real sector. The following papers Fama and French (1989), Schwert (1990) and MacDonald (1997), a significant relationship was gained between stock market returns and changes in macroeconomic variables like the inflation, risk premium, yield curve, interest rates and industrial production. Brown and Otuski (1990) found that crude oil prices, exchange rate, call money rate, residual market error, production index and money supply affect the Japanese stock market and is linked with risk premia. Hamao and Campbell (1992) concluded a smaller positive coefficients for the dividend price ratio and the long short interest rate spread on stock markets returns in Japan relative to the US in a studying a sample casing monthly data from 1971 to 1990. Mukherjee and Naka (1995) test the dynamic relationship between six macroeconomic variables and the Japanese Stock market by using a vector error correction model of seven equations. They found that a long term equilibrium link between the Japanese stock market and macroeconomic variables like the exchange rate, money supply, inflation, industrial production, long term government bond rate and call money rate. Kwon, Shin and Bacon (1997), assessed the stock market behavior and various multiple macroeconomic variables namely, production index, inflation, expected inflation, risk premium, term structure, dividend yield, trade balance, foreign exchange rate, oil price and money supply. They were time series data regressed on monthly returns of the value weighted Korean composit e stock price index. As a consequence, they concluded that Korean stock market was more sensitive to real economic and international trading activities, like the trade balance, exchange rate, money supply and production index than that of US and Japanese stock indices. Nasseh and Strauss (2000), found a significant link between stock prices and domestic and foreign activity in France, Germany, Italy Netherlands Switzerland and UK. Positive coefficients for industrial production, consumer price index, short term interest rates and business surveys of manufacturing. However, negative coefficients were obtained for long term interest rates. Furthermore, the European stock market was found to be integrated with that of Germany. Rapach (2001) analyzed the impacts of supply shock factors on real U.S stock prices in a structural VAR model and found that real stock returns were negatively correlated with inflation. Maysami, Howe and Hamzah (2004), investigated the link between ma croeconomic variables and the stock market returns in the Singapore stock market. The macroeconomic variables are interest rates, inflation, exchange rates, industrial production and money supply. Singaporean stock market index All-S equities property index proved to share significant relationship with all variables. However, the All-S equities finance index and All-S equities hotel index form significant relationship with only selected variables. Basher and Sadorsky (2006) scrutinized the effect of oil price changes on the stock market returns of 21 emerging economies. Evidence found were positive and significant at 10% level to stock market returns for most if not all countries. A.Humpe and P.Macmillan (2007), made an attempt to examine the long term stock market movements caused by macroeconomic variables. They in fact, made a comparison between the US and Japan. For the US and the Japan macroeconomic variables were, industrial production, consumer price index, money supply , rate of interest which were taken into consideration. Monthly data over the last 40 years were used. As a result, in US, variables like the industrial production positively affect stock prices while negatively affected by inflation and rate of interest. Money supply had an insignificant influence over stock prices. In Japan, two cointegrating vectors were found. Stock prices were positively affected by industrial production and negatively to money supply. The second cointegrating vector depicts that industrial production is negatively related to interest rate and consumer price index. A.Anokye and T. George (2008) examine the influence of a number of macroeconomic variables on stock prices in Ghana. Variables are inflation, interest rate, exchange rate, oil prices, inward FDI. Ghana stock market formed significant relationship with the macroeconomic variables selected. In fact, the presence, of a cointegrating relationship between the variables and stock prices is a signal t hat stock market efficiency is in doubt. In the short run, establishing lead and lag through error correction model shows that investors can cause past values to reap abnormal profits. Kandir (2008) in his investigation, examined the Turkish stock market and how do the growth rate of industrial production index, change in consumer price index, growth rate of narrowly defined money supply, change in exchange rate, interest rate, growth rate of international crude oil price affect the return on the MSCI World Equity Index. A macroeconomic factor model is employed for the period that spans from July 1997 to June 2005. N. Sohail and Z.Hussain (2009) explored the relationship between Lahore stock market and macroeconomic variables. Monthly time series were used and variables were, consumer price index, real effective exchange rate, 3-month treasury bill, industrial production and M2(money supply). Data from 2002-2008 were taken into consideration. As a matter of fact, two long r un relationships were found. In the long run, inflation negatively affected stock prices whilst, industrial production, exchange rate and money supply positively affected them. On the other hand, treasury bills had an insignificant effect on stock prices. The results of the Variance Decomposition showed that inflation explained the maximum variance. K.Jiranyakul (2009) used a set of four macroeconomic variables, namely; the real GDP, money supply, nominal effective exchange rate and Thai stock market index. A positive relationship was found between them using data from (1993-2007). The Engle granger test does not show cointegration, however the Johansen cointegration test exhibits cointegration. There are two cointegrating equations; industrial production had a positive relationship on stock prices whilst inflation had a negative one. Nominal exchange rate adversely affected stock prices. The fundamental crisis imposes no impact on long run relationship. Moreover, there exi st bidirectional causality between stock market and economic growth. MW Mahmod and NM Dinniah (2009) carried out a study of how macroeconomic variables, inflation, output and exchange rate of six Asian Pacific regions affect stock prices. Monthly data for Malaysia, Thailand, Korea and Japan and quarterly data for Hong Kong and Australia were used. According to the Granger test and Johansen and Juselius maximum likehood procedure, there is sufficient evidence showing that there is long run relationship between the selected variables in all three countries. Furthermore, the error correction model depicts a short run link only between foreign exchange rate with stock price of Hong Kong and real output and stock price of Thailand. E. Cagli, U Halac and D.Taskin (2010), studied the relationship of the Turkish stock prices with macroeconomic variables, like the exchange rate, GDP, industrial production, inflation, money supply, interest rates and oil prices and monthly data fr om Jan 1998-Dec 2008 were used. The cointegration test suggests that GDP, oil price, industrial production are cointegrated. Inflation is not cointegrated. According to the unit root test with structural breaks exchange rate, rate of interest are dropped out for the reason they are found to be integrated of order (0) they are hence stationary. D.Plinkus (2010) carried an analysis of how macroeconomic variables affect stock market of main Baltic. Monthly data from Jan 2000 Dec 2008 were used. Indeed, results obtained present granger causality between selected variables and the stock market indices. Nearly all the variables, Gross Domestic Product, unemployment, foreign direct investment, state debt, money supply, export, import, trade balance, shorter interest rates and harmonized consumer price index were found to be causing movements in stock returns. Moreover, the relation between macroeconomic variables and stock returns in Baltic were found to be more reliable in the long ru n. J.Garcia and M.Juarez (2010) investigated the influence of Chinese and American macroeconomic variables in the stock market indices of Brazil, Chile and Mexico. Monthly data for industrial production and interest rates for the period of Jan 200 Dec 2009 were used. As a result, a cointegrating relationship between the USA with the Brazil, Mexico and Chile were obtained whereas at least two cointegrating relationship between China Mexico and Brazil were gained and one with Chile. Implying that Chinese, macroeconomic variables appear to be more cointegrated with Latin American stock. The granger causality tests show that US macroeconomic variables granger cause stock market performance in Mexico and Chile. As a matter of fact, Mexico is found to be the only country which exhibits causality between China and USA. How do the selected macroeconomic factors affect stock returns? Gross Domestic Product (GDP) The relationship between economic activity (proxy by GDP) and stock market has been an issue of great interest to many researchers. Mostly, studies have been carried out to find out whether stock prices are influenced by economic changes or determined by speculative bubbles. In the light of mixed empirical evidences, it is found that during recession, stock market returns are low whereas during economic boom and in presence of future expectations about increase in level of economic activity, returns soar. Oskoe (2010) studied stock market performance of Iran with respect to changes in economic growth. As a result a causal relationship between GDP and stock market were found. The Johansen cointegration test showed that stock prices are moved by level of economic activity. Inflation and rate of interest Inflation is defined as a period where there is persistent rise in general price level of goods and services. It affects the stock market in sense that it increases the rates of interest. If the inflation rate is high, the interest rate is also high thus, the creditor will have a tendency to compensate for the rise in interest rates and the debtor has to avail of a loan at a higher rate. This prohibits funds from being invested in stock markets. In addition when the government has enough funds to circulate in the market, the cost of goods, services usually rise. This leads, to the decrease in the purchasing power of individuals and in the value of money. Concisely, for the economy to flourish, inflation and stock market ought to be more conforming and predictable. Feldstein (1980a) stated that inflation decreases share prices because of the link between inflation and the tax system. Money supply Intuitively an increase in the rate of growth of money supply strengthens the rate of increase in stock prices. Conversely, a fall in the rate of growth of money supply should slow down the growth momentum of stock prices. Oil prices Indeed oil prices are very volatile by nature and any fluctuation in such prices affect the economy as a whole. In most if not all economies, all industries, they rely on fuel to run properly. In their study, N.Mujahid, R.Ahmed and K.Mustafa (2006) used data from March 1998 to Dec 2005 and found that there is actually no relationship between oil prices and stock market of Pakistan. The reason behind this is because due to an increased use of gas and liquidity. In fact stock a positive relationship between gas prices and stock market was found. Exchange rates A depreciating currency may depress stock market and hence stock returns. This happens due to expectations of inflation (Ajayi and Mougoue 1996). In this connection, foreign investors are less willing to hold assets in currency that depreciates as this will erode their return on investment. However an appreciating currency will boost the economy as well as the stock market and finally stock returns. Hence exchange rates do affect stock market returns to high extent. Moreover, M.Rahman (2009), studied how stock prices in three merging countries like the Bangladesh, India and Pakistan, interact with respect to fluctuations in exchange rates. Using data from Jan 03 June 2008, result showed that there is no cointegrating relationship between stock prices and exchange rates. The Granger causality test likewise the Johansen test, depicted no causal relationship between stock prices and exchange rates. Result showed there is no way causal relationship between stock prices and exchange rates in the countries.

We Eat More Chickin - 1481 Words

ould We Eat More Chickin? In a blog post â€Å"The Chick Fellatio Ep I: Stuck In the Craw† by Wayne Self, an activist playwright for Huffington Post, claims that the famous chicken sandwich chain, Chick-Fil-A, criminality against the LGBT by handing out millions of dollars to support anti LGBT organizations. Self’s bibliography and the picture of him smiling happily create a strong common ground, also show the readers he is credible for all the work he has done and achievements for the Huffington Post. Moreover, creating a strong common ground with the audience by talking to readers directly, Self effectively brings the readers to his side of the argument, which is to support the LGBT rights. Self provides facts and statistics about how Chick-Fil-A using their profit to against LGBT rights, and proving that Chick-Fil-A is the root of the inequality in LGBT rights. Strengthening the claim of how Chick-Fil-A has supported the anti LGBT organization, Self also articulately uses the emotional attack to find empathy and connections with audiences who view that LGBT rights are equal to basic human rights through his bullying metaphor and the angry passion. In order to make readers believe in him, Self needs a credibility or trust worthy writing experience background, and Self successfully uses his bibliography to prove that he is credible. The bibliography is in bold and a colored box. The reason behind is to catch the readers’ eyes to read the bibliography first. As it says on theShow MoreRelatedPoems: City Planners15330 Words   |  62 Pagesof distance - of us and them, whereas Atwood uses the inclusive ‘we’, to suggest that this experience of cities is one that we can all relate to and share. Her attitude - and the narratorial tone of the poem - seems negative. She uses words like ‘offends us’, ‘discouraged’, ‘avoidance’, ‘sickness lingering’, including the semantic field of illness. These seem mostly quiet, and passive, but as the poem progresses, she shifts into a more violent tone, with ‘hysteria’, ‘bruise’, ‘vicious’, ‘capsized’

Essay Work Design Challenges

Question: Write about the Essayfor Work Design Challenges. Answer: Introduction Flexibility and innovativeness are key fundamental factors that most businesses in various industries have underutilized in their daily executions. Organizations need to move away from traditional way of doing things the same way, embrace innovativeness and come up with new ideas that enhance profitability by benefiting both the business and the employees as seen in Justitias flexible work model. Establishing flexibility and innovativeness in the business is fundamental but it is only going to succeed when perfectly supplemented by strategic human resource management (SHRM). Human resource management is an important factor which determines the course and fate of the business performance, and without it the business is directionless(Burma, 2014). In an environment which gives much freedom to the employees as seen in the flexible work model, individual monitoring is essential in ensuring that the job performance is not undermined. Key performance indicators (KPIs) are important in this case for determining the whole organizations performance as well as individual output at the workplace. The use of human resource management will ensure that there is hiring of the appropriate personnel who are willing to fit in to the model at work. Apart from ensuring the hiring of the right employees who would fit perfectly in the organization, human resource management also ensures smooth transition of the workers in to their new environment of operation, monitoring and evaluating the employees performance through performance appraisal among other roles (Burma, 2014) The Strategic Role of Human Resource Management Most businesses are driven by the urge of generating more profit, growing in size and outperforming their close rivals in the same industry. But behind all these motivations, there lies a crucial factor which is strategy. Every business sets its goals to be achieved and lays down a well formulated strategy to achieve those goals. Therefore human resource management department comes in as the major player in any organization in terms of aiding the firm to attain its set goals. According to (Alnaqbi, 2011), businesses should concentrate on developing those HRM strategies and policies that fulfills the roles of recruitment, training of the staff and the employees performance appraisal that is in line with organizations acceptable set of beliefs and cultural practices. Furthermore all these HRM functions should aim at one major goal of maintaining good relationship between the employees and the top management. While most businesses use HRM for achieving external goals, some organizations see it as a perfect tool of employee management within an organization. Other firms use HRM strategically by implementing those HR practices and policies that curbs unwanted employee turnover within an organization (Kacmar, Andrews, Rooy, Steilberg, Cerrone, 2006). Within an organization, HRM serves various purposes. (Sava?, 2006), highlighted the objectives of HRM key among them being determining workforce and their cost in relation to the organizations budget, determining salary norms, employee career development and their effectiveness to the organization. Therefore, it can generally be concluded that organizations sets up HRM departments to deal specifically with their important areas of their interests. The Importance of HRM in Justitias Work Design Justitia as a firm employed business strategy based on flexibility. The firm formed an innovative and flexible work design that suited both the employer and the employee. The business partners behind its formation emphasized on a work design independent from the normal, traditional organizational approaches, which valued part-time working, with a team work approach, and quality service delivery. However, this work model required efficient and effective human resource management to succeed. The Justitia partners understood the implication brought about by allowing employees too much time and freedom. Therefore the setting up of the HRM department was an appropriate step in tackling some of the issues regarding employee-organization work relationship. In regard to this work model, human resource management is an important factor in evaluating the employees performance on an individual level, as well as the whole teamwork using Key Performance Indicators (KPIs). In addition, the HRM would serve as a regulating unit in charge of controlling the workers conduct, set goals and imparting the set organizational cultural practices, and make sure all the rules and regulations are adhered to. Furthermore, Justitias whole firm approach meant that with a collective approach to the set goals, some workers would just joyride within the group without significant returns. To reduce on passenger workers menace, human resource management would ensure full participation at individual level within the group. Transparency, worker-worker cooperation and client satisfaction are one of the major results the firm would gain from a well organized human resource management. It was imperative for Justitia firm to device an effective HRM department to ensure smooth operation within the business towards the set goals. The Challenges of Justitias Flexible Work Model Everything comes with its negative side regardless of the measure. The Justitias flexible model was always going to have its flaws. With the flexible approach, it gave too much freedom to the employees which was a dangerous move. Despite its flexibility, it is important to note that the model was new to the business industry, and the one very few organizations are willing to implement. Secondly, human resource management would only be important in this model if it directly enhance management practices that contribute to competitive advantages by reinforcing right skills, right attitudes and behaviors that result in reduction of the costs and service differentiation (Burma, 2014). Another notable point is that this model is so difficult to implement in a much larger firms where mostly work and roles are specialized. From Justitias case, there is a well coordinated team work and apparently easy management of every individual and their work output, which explains why workers are allowed to work part-time and have some time for their personal interests. In larger businesses, with thousands of workers specialized within different roles, flexibility becomes difficult. Monitoring of the worker progress and individual employees evaluation would also become a difficult task. The difficulty of mobilizing hundreds of workers with different work specification to work on part-time basis toward achieving the same goal makes this work model typically suited for small-scale firms. According to (Taylor Stern, 2009), for the employees to like the organizations culture, they should be well rewarded fairly for their contributions and their efforts recognized. They should also be trained to improve their skills and develop a talented workforce. With the increase in the size of the firm, these roles eventually overwhelm the HRM department. Viability of the Justitias Flexible Work Model It could easily be concluded that most organizations rarely use flexible work models. They encourage innovations within their traditional organizational set ups. But despite all this, the model is still very much applicable in a very busy and complex work environment. The viability of this model also depends with industry of application and also the organizational set up. For instance in the media industry, big media news corporations such as BBC and CNN may have a good organizational set up for work flexibility. In this case employees such news anchors could only work on part-time basis such that, the news anchor only reports at work during the hour of his/her role, such as news bulletin hour. Similarly, academic institutions such as CQUniversity in Australia may have a flexible working model for their lecturers such that, the lecturer will only report and attend his classes and upon completing the session successfully; he/she could leave for other personal interests as long as the teaching work is effectively completed and students have the required academic content. Furthermore some academic institutions have devised plans of hiring teaching professionals on part-time basis to meet the high education demand in the market. It is also noticeable that this flexible model can be applicable in bigger organizations as part of their programe rather than entirely using the whole design. This model is mostly used by bigger and complex organizations to supplement their workforce need, and as a strategic way of achieving organizational goals. The activity of human resource outsourcing (HRO) by bigger organizations is another good example of flexibility in workforce within bigger organizations. It can be perhaps argued that Justitias flexible work model may not be popular in every firm, but it is clearly apparent that itat least plays some part most complex firms. Conclusively, the flexibility in the job market may not be popular all over the world, but wherever it is employed, it works effectively to the advantage of both the employer and the employee. In addition, human resource management (HRM) plays a very fundamental role in facilitating the success of this work design, through monitoring of individual employee performance, and general team performance. References Alnaqbi, W. (2011). The relationship between human resource practices and employee retention in public organisations : an exploratory study conducted in the United Arab Emirates. Edith Cowan University. Burma, Z. A. (2014). Human Resource Management and Its Importance for Todays Organizations . International Journal of Education and Social Science , 85-92. Kacmar, M., Andrews, M., Rooy, D., Steilberg, C., Cerrone, S. (2006). Sure everyone can be replaced but at what cost?: Turnover as a predictor of unitlevel performance. The Academy of Management Journal , 133-144. Sava?, A. (2006). Eleman Seiminde Yetkinlik Bazl? Mlakat Teknikleri . Istanbul: Anka Matbaac?l?k. Taylor, J. C., Stern, G. M. (2009). The Trouble With HR: An Insiders Guide to Finding and Keeping the Best Talent. New York: American Management Association.

Othello Passage Analysis free essay sample

Othello also says â€Å"I will kill thee/ And love thee after,† showing that he will continue to admire Desdemona in death. At this point, Othello begins to feel a conflict within him as his jealously clashes with the love he feels, causing him to weep over Desdemona. Part 2: Literary Devices One of the literary devices present in this passage is the metaphor and imagery of a rose. Othello compares Desdemona to a rose when he says â€Å"When I have plucked the rose / I cannot give it vital growth again; / It needs must wither, I’ll smell thee on the tree. What Othello is trying to say is that similar to how a rose cannot be re-attached once it is off its branch, Desdemona cannot be revitalized once he kills her. Thus, he must enjoy her while she is still alive, culminating into the kiss that Othello gives her. Imagery is also contained in the lines Othello has, as his comparison of Desdemona with the rose appeals to the reader’s senses of sight and smell. We will write a custom essay sample on Othello Passage Analysis or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page His lines make the reader imagine a rose that is beautiful and fragrant, but once it is plucked, it shrivels and withers. A second literary device in this passage is the metaphor comparing Othello’s love to God’s love. A religious tone is introduced when Othello says â€Å"This sorrow’s heavenly / It strikes where it doth love. † He is implying that the sadness he feels towards Desdemona is like the grief God feels towards his people. These lines give insight into what Othello might be experiencing at the moment and show that he is torn between his intense love for Desdemona and his jealousy and anger towards her, just like how God loves us, but can get frustrated with us at times too. Similar to how Desdemona has committed a sin that has hurt Othello, we commit sins that hurt God. The second part, â€Å"It strikes where it doth love,† lets the reader know that Othello still loves Desdemona despite what he is planning to do to her. The reader begins to feel pity and sympathy towards Othello for the predicament he is in. While he wants to let Desdemona live, his jealousy and hate prevent him from allowing so. A third literary device in this passage is the symbolism of the candle (Othello refers to it as the â€Å"light. ) The candle is the only light source in the room, once again bringing up the theme of light versus darkness or white versus black. In this case, it symbolizes the internal struggle within Othello. His â€Å"light† side, which is the love he feels for Desdemona, is in conflict with his â€Å"dark† side, which is the hurt and jealousy he feels Desdemona has caused him. As a candle is a very small object to light up an entire room filled with darkness, it may imply that at that moment, Othello’s love is not strong enough to overcome his hate. The candle also serves the purpose of showing Othello’s reluctance to harm Desdemona, as he says â€Å"If I quench thee, thou flaming minister, / I can thy former light restore/ Should I repent me,† meaning that if he decides at the last minute not to kill Desdemona, he can still turn back and light the candle. The candle also serves to set the mood of the scene for the reader, as it is the only thing keeping the set from being completely shrouded in darkness, creating a sinister and mysterious atmosphere, foreshadowing Othello’s murder of Desdemona in the room.

Reaction Paper Divergent Essay Example

Reaction Paper Divergent Paper Divergent is an interesting movie, a typical science fiction action film that is totally entertaining. The movie starts with the narration of the main character Beatrice Prior, and from her narration I already have a conclusion that it will be a good film. In her narration, she discusses the kind of society they have which is divided into five factions. I was fascinated with the idea of having these five factions, each with its own unique characteristic portrayed in the film. The factions are presented through their different functions in the society, the lifestyle they have especially their manner of dressing, the beliefs that they hold on to, and the different culture that they have which we give emphasis on our paper. However, somehow contradict the statement of Beatrice saying that she does not belong in any Of the five faction for she is a Divergent- has more than one faction. For me, Beatrice is lucky to be a Divergent for it proves that she has more than one ability than becoming factionists. But she did make a choice to be part of one of the faction which is the Dauntless, the protector. I like the determination that she shows in order arrive the training and keep being a part of the Dauntless group. All in all, the movie was great. The characters are good as well as the graphics especially the battle part. We will write a custom essay sample on Reaction Paper Divergent specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Reaction Paper Divergent specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Reaction Paper Divergent specifically for you FOR ONLY $16.38 $13.9/page Hire Writer The film also left some lessons which I think is very useful to many of the teenagers who are also confused in their state of life. One of which is Fear does not weaken you, it awakes you. After watching the movie, I began thinking of what faction do I want to belong with, and its the Amity group, Ive always wanted to be the scholar ones and because like color blue, and with these thinking realized how influential the movie is.

Evaluating Media for Credibility Essays - Belief, Critical Thinking

Evaluating Media for Credibility Essays - Belief, Critical Thinking Evaluating Media for Credibility CRT/205 March 16, 2014 Captain E.F. Rollins Evaluating Media for Credibility The two news programs that I watched were Smerconish on CNN at 8:00am CST and Americas News HQ on Fox News at 11:00am CST. Both programs devoted an overwhelming amount of their time on the fate of Malaysian flight 370. There were similarities in both presentations such as the transponder was deliberately turned off and that the plane could have flown for at least seven hours after it was turned off. Also, similar was the discussion on where the plane might have ended up. CNN chose to interview a reporter for an aviation magazine and a retired British officer in discussing the facts of the planes disappearance with neither having the expertise to speak on this subject from a level of experience or knowledge. Then CNN chose to change the focus to why planes are not tracked through video monitoring and whether the plane was manned or unmanned when the transponder was disabled. The person of choice for this segment was a commercial airline pilot who did not have the expertise or education either to be able to comment one way or another on this topic. On the other hand, Fox News chose to interview a commander in the United States Public Affairs office and a former Assistant Director in the FBI that investigated the 1996 flight disaster. Each of these interviewees had knowledge and experience with which to discuss the disappearance of flight 370 and were able to provide a level of detail per that knowledge and experience. In conclusion, Fox News was more credible in their reporting because they chose interviewees that could reasonably have the expertise on the subject matter, provided more details, and stayed focused on the topic. Although CNN did state some of the same facts that Fox News stated, they diluted their story with information that had no bearing on the disappearance of flight 370, did not stay focused, and their choice of interviewees did not have relevant experience or knowledge in which to draw on for this topic. As a result, CNN came off as less credible.

3 hours online test Assignment Example | Topics and Well Written Essays - 1000 words

3 hours online test - Assignment Example Last fall, the FDA had promulgated an administrative proposed  rule  that  would have required  all pharmaceutical companies  that sold over-the-counter medications  to incorporate a special tracking bar code (i.e., UPC bars) on  their packaging to ensure that recalls could be done with very little trouble.  The bar codes cost about 35 cents per package. Robins & Robins lobbied hard against this rule and managed to get it stopped in the public comments period. They utilized multiple arguments, including the cost (which would be passed on to consumers). They also raised  Ã¢â‚¬Å"privacy† concerns, which they  discussed simply to get public interest groups upset.  (One of the drugs impacted is used for assisting with alcoholism treatment – specifically for withdrawal symptoms – and many alcoholics were afraid their use of the drug could be tracked back to them.) Robins  & Robins argued that people would be concerned about purchasing the medication with a tracking mechanism included with the packaging and managed to get enough public interest groups against the rule. The FDA decided not to impose the rule. Robins & Robins contract with Casings, Inc., states, in section 14 B.2.a., "The remedy for defects in supplies shall be limited to the cost of the parts supplied."  Casings, Inc., had negotiated that clause into the contract after a lawsuit from a person who was shot by a gun resulted in a partial judgment against Casings for contributory negligence. List any bases Robins & Robins could sue Casings, Inc.,  under contract theory ONLY  for the damages caused by the explosives in their drugs, over and above the cost of the capsule shells. (short answer question) An agreement which is legally enforceable between two or more parties having mutual obligations is said to be a Contract. Damages or compensation in monetary form of compensation is the remedial activity in case of a breach of contract. Specific performance or

Littleton Manufacturing (A) Case Study Example | Topics and Well Written Essays - 250 words

Littleton Manufacturing (A) - Case Study Example Winslow identified that the company did not: Strategy is an important tool in the input parts any open systems framework. The management of Littleton lacked the expertise to draw the best strategy for the company that could help solve the above issues. The paper shall consider the top three problems the company faced (Whiteside, 2001). Low organizational unity. Such unity is important in improving the organization’s effectiveness. Additionally, the management could find it easy to solve the problem. It is a short time process. Solving this problem will affect positively the stakeholders’ interests (Whiteside, 2001). The stakeholders of Littleton are not focusing on the company’s priorities. It is evident the company failed due to lack of commitment from the stakeholders. The company has enough resources to address the problem. Additionally, the management had adequate information about the problem, hence easy to address (Whiteside,

Industry Clustering Essay Example | Topics and Well Written Essays - 1500 words

Industry Clustering - Essay Example Some of the general deductions that can be made from the clustering phenomenon in business location involve synergy in operations where conglomeration facilitates efficient industry-specific microeconomics. To illustrate this, it is an economic fact that an industry relies on a support economy including supplies and other secondary support services. In a clustered environment, it is certainly possible for the entire cluster, working as a system, to influence the market forces of the ancillary system. The influence exerted increases the bargaining power of the firms in attracting the relevant support systems in that location. Among the most definitive determinants of clustering, including supplies and labor as briefly discussed below. Despite the fact that there are different levels of dependence on suppliers across firms as dictated by the nature of business engaged, firms may cluster together o take advantage of supply dynamics. It can be projected that firms with a higher reliance on supplies in the running of their operations would be a favorable business opportunity if they were located together. Pulling suppliers’ attention towards a centralized market reduces costs for their operations and facilitates in increasing the firms’ bargaining power thereby creating a favorable environment for the players. In addition, labor intensity in the operations of industries is varied across business types, but it affects the location considerations by firms across the various levels of their labor demand. Labour supply is influenced towards the clusters as a center of interest for the labor market where high specificity across the skills levels is likely to be met. Such a setting dramatically changes the dyn amics of the labor market by attracting its availability and quality.  Ã‚  

Chinas Relationship with North Korea

Chinas Relationship with North Korea Table of Contents: Introduction Hypothesis statement Research Questions Literature Review Theoretical framework (Defensive Realism-Kenneth Waltz) Sino-Korean alliance Mutual gain between China and North Korea Beijing’s influence Conclusion Introduction: North Korea is the state that is being considered as the most isolated state in the world. China is the only state that is supporting North Korea since Korean War. At the period of Korean War USSR and China backed North Korea. South Korea and North Korea are on the same peninsula whereas; North Korea shares its borders with China, Russia, Japan and Mongolia but does not have good relations with any state except China. Trade impediments have been put on North Korea but China supported them throughout and acknowledged as the biggest trade partner of North Korea. During the Korean War, Soviet Union provided military assistance to North Korea but circumstances are quite different now. As we are living in unipolar world and US is the super power, China is threat to US because of its emerging economic and military power. US supported South Korea in Korean War and they still have ample relations with each other. The reason of fragmentation of Korea is shift in ideology, North Korea was a Co mmunist state and that is again a threat to US because US didn’t want several states that follow Communism. On the other hand China was and still is a Communist state and a cause of having a soft corner for North Korea. South Korea is the Democratic state and has been backed by US. [1] China is aiding Pyongyang in terms of both soft power and hard power but does not want them to have their own military weapon. Proliferation of Nuclear weapon may lead towards unhealthy relations between China and North Korea and off course US silently supporting this particular act of China against North Korea. From 2006-2013 Pyongyang’s tried Nuclear Tests for the three times but it turned relations in tensed situation and settled afterwards when North Korea agreed on denuclearization at Six Table Talks. For now North Korea does not afford disturbed relations with China because it’s the only state that is providing economic and military trade to them. When Korea split North Korea had better economy and GDP than South Korea but now South Korea is more developed and flourished because of Democracy and support of US whereas North Korea being the follower of Communism and have Dictatorship has poor economy plus have non friendly relations with its neighbors. [2] Hypothesis: North Koreas alliance is important to Beijing as an important tool of balancing power in the region with the US its allies, especially South Korea rising Japan. Research Questions: The purpose of the study is to find out the answers of these questions: Why North Korea is important for China in the regional context of Asia Pacific? Will Sino-Korean alliance be able to balance power with the United States its allies in the region? What is the Western Perception of Sino-Korean alliance? Literature review: As China and North Korea’s relationship is one of the ongoing debates for the world since Korean War so scholars like to write about it and by giving different analysis on the particular issue makes the topic more interesting. The Congressional Report has been published on December 2010 by Dick. K. Nanto and Mark. E. Manyin. The main crux of the report was that US being the opponent of China still highlighted the mutual interests of China’s foreign policy towards North Korea. The reason behind that is China wants to see North Korea as a stabilized state in terms of strong economy but does not want North Korea to become a Nuclear power and this is the point where US is with China. The Book â€Å"North Korea and North East Asia† edited by Samuel. S Kim and Tai Hwan Lee talks about Beijing’s continuous support to Pyongyang is its own interest because if it will stop the economic assistance to North Korea, then the complete dependence on China would affect the economy of China as well. Weak economy of North Korea means less job opportunities and facilities of life. As North Koreans are not in good terms with their neighbors except China they will start moving towards it, this fear is making China to provide soft power to North Korea so they stay in their own state and not become the refuges of China. There is a report from Washington named as China’s North Korean Policy by Gates Bill published in 2011 and another report â€Å"Balancing Chinese interests on North Korea and Iran† by Lora Saalman (April 21013). In this report author has discussed that US, South Korea and Japan are allies but somehow they are agreeing on China’s foreign policy towards North Korea as it discussed about: To stable the regime and political system of North Korea Development of their economy A book called â€Å"China and North Korea† by Andrew Scobell has discussed what terror PRC and DPRK faced after 9/11. In China’s point of view after Iraq it was North Korea’s turn to be attacked by US so in that case it was imperative for both states to come together on one table and maintain their National Security, the article China’s North Korean Pivot published in 2013 by Yoon Young-Kwan added that China’s perception was that Pyongyang’s would agree on the issue of denuclearization when Prime Minister Wen Jibao visited North Korea in October 2009 and made sure the continuity of economic services. Theory: Defensive Realism-Kenneth Waltz In this study, I have applied the defensive realism school of thought. Defensive realist basically believes that power is the most important element in the international relations. Also, defensive realists argue that states are genuinely obsessed with security because they feel insecure and thus always seek to maximize its security capabilities. This is how China is developing and maintaining its relations with other states including North Korea in the region. China is insecure and doesn’t trust US and its allies, and with the growing US presence in the Asia Pacific region in return has increased China’s concerns, thus China is seeking to find a way to balance the power by supporting US rival North Korea. Sino-Korean alliance As it is observed that China is of the strongest allied state of North-Korea, few things are being come under consideration in last few years. Some tensions have been occurred between China and North Korea relationship due to continuous nuclear development by North Korea, China and US are on the same platform to stop North Korea to become a Nuclear power. It is thought that US partnership towards North East Asia is a gateway to bring stability in Korea peninsula. Since Obama’s pivot to Asia the previous policy (regional partnership) has been confronted, and the changing policy of US is creating suspicion among Chinese Government. North Korea’s approach is aggressive towards China and US, now North Korea is applying realistic approach as according to North Korea US is the only actor with maximum nuclear power and Pyongyang is trying to balance the power by developing their own Nuclear weapons. U.S-China policies are divergent in key areas such as anti-terror and anti WMD institutes, democracy and human rights. The U.S alliance system and the U.N system contribute on stable patterns of power balancing in Asia-Pacific. I conclude that Sino-U.S policies on the regional order result in patterns of power balancing not undermined by co-existence and order that may be called â€Å"Stable Instability†, because it is likely to remain in place as the regional order of the Asia-Pacific for the foreseeable future. Western perception of Sino-Korean alliance Since China is the biggest trade partner of North Korea but its policy towards denuclearization of North Korea is very clear and supports US on this particular issue. Though US consider China as a threat but also realize that China is only providing soft power to North Korea and has a very firm stance on the issue of denuclearization of North Korea. At the start of the Obama’s administration first term in 2009, there were many expectations that the United States must pursue direct talks with North Korea in order to break a two decade long standoff over its nuclear program. President Obama promised in his inaugural address that he would offer an outstretched hand to those who will unclench their fists. Making a public offer to dictatorial states of willingness to abandon adversarial relations.[3] However North Korea responded to this offer with a multi-stage rocket launch and a nuclear test in April and May 2009.These actions meant that president Obama’s first North Korea related policy decisions would be defined by the need to uphold the international non-proliferation regime against North Korea’s challenge and would involve winning international support for sanctions against North Korea at United Nations security council. The resulting UNSC resolution 1874 condemned North Korea’s nuclear and multi stage rocket tests and subjected suspected North Korea related shipments to international inspections. [4] By the time Obama’s administration had the political space to pursue direct dialogue with North Korea; it had decided on an approach that secretory of United State Clinton described as strategic pastime in close consultants with our six party allies. The emphasis alliances coordination has been the first principle of any Obama administration discussion policy towards North Korea and it was greatly aided by the fact that Obama and Lee Myung-bak (former ruler of South Asia) administrations largely saw eye to eye on the priority and importance of North Korea’s denuclearization.[5] The policy of â€Å"strategic patience†, a policy that suggested that the U.S could offend to wait for North Korea to make its decision to denuclearize, aligned well with political reality in light of North Korea’s alleged sinky of a Korean warship and shelling of South Korea’s Yeonpyeons Island in March and November 2010. The Obama administration held three rounds of direct talks with North Korean counterparts from July 2011 to February 2012. The U.S intended these statements to bind North Korea from provocative actions such as nuclear and missile tests and to secure Pyongyang’s commitment to return to the path of denuclearization, but they were upended less than three weeks after they were announced by North Korea’s March 16, 2012 announcement of its failed 12 April 2012 satellite launch. Thus, the Obama’s first term policy toward North Korea involved a mix of elements, including a strong commitment to coordination among some South Korean and Japanese allies, continued adherence to the objective of North Korea’s denuclearization. The Obama administration also involved a â€Å"rebalancing† policy towards Asia, popularly known as pivot to Asia. This policy strengthens U.S political, economic and military participation in and commitment to Asia, both through a host of bilateral dialogues with China that cover a wide range of economic and strategic issues and through a variety of hedging me asures designed to shape China’s rise, limit the affects of assertive Chinese policies and assure that China’s rise will not result in regional instability. This debate provides a backdrop to consider prospects for Sino-U.S cooperation on policy toward North Korea and highlights Chinese wariness and strategic mistrust of U.S policy intentions.[6] Mutual Gain North Korea is economically dependent on China. China is its major food source and the North Korea’s dependency on china is increasing day by day as its export is less than its import. It is not only North Korea that is benefitting from China but it’s a game of mutual gain North Korea is providing buffer zone between China and South Korea. More and more Chinese companies are investing in North Korea and gaining favorable interests. Importance of North Korea in Asia Pacific (China): Conclusion: China doesn’t believe in making alliances or allies. China only seeks mutual interests and cooperation amongst states. Also, China perceives a threat from US and its Allies and so in order to balance out, China has been supporting North Korea since the Korean War in early 1950s. Moreover, there has been a mutual gain relation between North Korea and China. North Korea’s economy is entirely dependent on China as China provided it with aid and energy supplies. Also, China is protecting and calming down its border against the Korean immigrants in China. However, China is surrounded by many challengers and so China sees North Korea as a buffer state against South Korea where 1000’s of US military troops are settled. Also, there has been a great number of investments and infra-structure building in North Korea by Chinese firms and companies. And in return China is extracting mineral resources from North Korea’s region. This way China is protecting and serving its own national interests while also helping out the North Korean interests and raising many of its people out of poverty. Bibliography A.Snyder, Scott. U.S. Policy Toward North Korea. Council on Foreign Affairs, January 2013. Armenian, Red. Soviet-Empire.com. 26 January, 2011. http://www.soviet-empire.com/ussr/viewtopic.php?t=49753start=100 (accessed April 15, 2914). Dingli, Shen. Scribd. 2006. http://www.scribd.com/doc/85548815/Coping-With-a-Nuclear-North-Korea-and-North-Koreas-Strategic-Significance-to-China (accessed April 8, 2014). G.Sutter, Robert. Scribed. 2012. http://www.scribd.com/doc/101616305/Chinese-Foreign-Relations-Power-and-Policy-since-the-Cold-War (accessed April 16, 2014). Henderson, Barney. Sreaves32. March 29, 2013. https://sreaves32.wordpress.com/category/asiapacific/south-korea/page/6/ (accessed April 6, 2014). Meredith, Charlotte. Sreaves32. April 9, 2013. http://sreaves32.wordpress.com/2013/04/09/north-korea-to-launch-missile-april-10-2013-after-warning-foreigners-to-evacuate-south/ (accessed April 5, 2014). Newsreview.com. March 15, 2014. http://www.newsreview.com/reno/newsview/blogs?date=2013-09-01?utm_source=luvcelebs.com (accessed April 10, 2014). NORTH KOREA SAYS IT WILL LAUNCH A NUCLEAR ATTACK ON THE UNITED STATES. March 11, 2013. http://sreaves32.wordpress.com/2013/03/11/north-korea-says-it-will-launch-a-nuclear-attack-on-the-united-states/ (accessed April 9, 2014). Odgard, Liselotte. The Balance of Power in Asia-Pacific Security. Routledge, January 2007. shree Bajoria, Beina Xu. Council on Foreign Relations. Febuary 18, 2014. http://www.cfr.org/china/china-north-korea-relationship/p11097 (accessed April 10, 2014). Xu, Jayshree Bajoria and Beina. Indias Strategic Studies. Febuary 21, 2013. http://strategicstudyindia.blogspot.com/2013/02/the-china-north-korea-relationship_26.html (accessed April 16, 2014). [1] Dingli, Shen. Scribd. 2006. http://www.scribd.com/doc/85548815/Coping-With-a-Nuclear-North-Korea-and-North-Koreas-Strategic-Significance-to-China (accessed April 8, 2014). [2] Armenian, Red. Soviet-Empire.com. 26 January, 2011. http://www.soviet-empire.com/ussr/viewtopic.php?t=49753start=100 (accessed April 15, 2914). [3] A.Snyder, Scott. U.S. Policy Toward North Korea. Council on Foreign Affairs, January 2013. [4] Henderson, Barney. Sreaves32. March 29, 2013. https://sreaves32.wordpress.com/category/asiapacific/south-korea/page/6/ (accessed April 6, 2014). [5] Newsreview.com. March 15, 2014. http://www.newsreview.com/reno/newsview/blogs?date=2013-09-01?utm_source=luvcelebs.com (accessed April 10, 2014). [6] A.Snyder, Scott. U.S. Policy Toward North Korea. Council on Foreign Affairs, January 2013.

Deception Point Page 17

Rachel could only stare. I traveled three thousand miles for this kind of hospitality? This guy was no Martha Stewart. â€Å"With all due respect,† she fired back, â€Å"I am also under presidential orders. I have not been told my purpose here. I made this trip on good faith.† â€Å"Fine,† Ekstrom said. â€Å"Then I will speak bluntly.† â€Å"You've made a damn good start.† Rachel's tough response seemed to jolt the administrator. His stride slowed a moment, his eyes clearing as he studied her. Then, like a snake uncoiling, he heaved a long sigh and picked up the pace. â€Å"Understand,† Ekstrom began, â€Å"that you are here on a classified NASA project against my better judgment. Not only are you a representative of the NRO, whose director enjoys dishonoring NASA personnel as loose-lipped children, but you are the daughter of the man who has made it his personal mission to destroy my agency. This should be NASA's hour in the sun; my men and women have endured a lot of criticism lately and deserve this moment of glory. However, due to a torrent of skepticism spearheaded by your father, NASA finds itself in a political situation where my hardworking personnel are forced to share the spotlight with a handful of random civilian scientists and the daughter of the man who is trying to destroy us.† I am not my father, Rachel wanted to shout, but this was hardly the moment to debate politics with the head of NASA. â€Å"I did not come here for the spotlight, sir.† Ekstrom glared. â€Å"You may find you have no alternative.† The comment took her by surprise. Although President Herney had said nothing specific about her assisting him in any sort of â€Å"public† way, William Pickering had certainly aired his suspicions that Rachel might become a political pawn. â€Å"I'd like to know what I'm doing here,† Rachel demanded. â€Å"You and me both. I do not have that information.† â€Å"I'm sorry?† â€Å"The President asked me to brief you fully on our discovery the moment you arrived. Whatever role he wants you to play in this circus is between you and him.† â€Å"He told me your Earth Observation System had made a discovery.† Ekstrom glanced sidelong at her. â€Å"How familiar are you with the EOS project?† â€Å"EOS is a constellation of five NASA satellites which scrutinize the earth in different ways-ocean mapping, geologic fault analyses, polar ice-melt observation, location of fossil fuel reserves-â€Å" â€Å"Fine,† Ekstrom said, sounding unimpressed. â€Å"So you're aware of the newest addition to the EOS constellation? It's called PODS.† Rachel nodded. The Polar Orbiting Density Scanner (PODS) was designed to help measure the effects of global warming. â€Å"As I understand it, PODS measures the thickness and hardness of the polar ice cap?† â€Å"In effect, yes. It uses spectral band technology to take composite density scans of large regions and find softness anomalies in the ice-slush spots, internal melting, large fissures-indicators of global warming.† Rachel was familiar with composite density scanning. It was like a subterranean ultrasound. NRO satellites had used similar technology to search for subsurface density variants in Eastern Europe and locate mass burial sites, which confirmed for the President that ethnic cleansing was indeed going on. â€Å"Two weeks ago,† Ekstrom said, â€Å"PODS passed over this ice shelf and spotted a density anomaly that looked nothing like anything we'd expected to see. Two hundred feet beneath the surface, perfectly embedded in a matrix of solid ice, PODS saw what looked like an amorphous globule about ten feet in diameter.† â€Å"A water pocket?† Rachel asked. â€Å"No. Not liquid. Strangely, this anomaly was harder than the ice surrounding it.† Rachel paused. â€Å"So†¦ it's a boulder or something?† Ekstrom nodded. â€Å"Essentially.† Rachel waited for the punch line. It never came. I'm here because NASA found a big rock in the ice? â€Å"Not until PODS calculated the density of this rock did we get excited. We immediately flew a team up here to analyze it. As it turns out, the rock in the ice beneath us is significantly more dense than any type of rock found here on Ellesmere Island. More dense, in fact, than any type of rock found within a four-hundred-mile radius.† Rachel gazed down at the ice beneath her feet, picturing the huge rock down there somewhere. â€Å"You're saying someone moved it here?† Ekstrom looked vaguely amused. â€Å"The stone weighs more than eight tons. It is embedded under two hundred feet of solid ice, meaning it has been there untouched for over three hundred years.† Rachel felt tired as she followed the administrator into the mouth of a long, narrow corridor, passing between two armed NASA workers who stood guard. Rachel glanced at Ekstrom. â€Å"I assume there's a logical explanation for the stone's presence here†¦ and for all this secrecy?† â€Å"There most certainly is,† Ekstrom said, deadpan. â€Å"The rock PODS found is a meteorite.† Rachel stopped dead in the passageway and stared at the administrator. â€Å"A meteorite?† A surge of disappointment washed over her. A meteorite seemed utterly anti-climactic after the President's big buildup. This discovery will single-handedly justify all of NASA's past expenditures and blunders? What was Herney thinking? Meteorites were admittedly one of the rarest rocks on earth, but NASA discovered meteorites all the time. â€Å"This meteorite is one of the largest ever found,† Ekstrom said, standing rigid before her. â€Å"We believe it is a fragment of a larger meteorite documented to have hit the Arctic Ocean in the seventeen hundreds. Most likely, this rock was thrown as ejecta from that ocean impact, landed on the Milne Glacier, and was slowly buried by snow over the past three hundred years.† Rachel scowled. This discovery changed nothing. She felt a growing suspicion that she was witnessing an overblown publicity stunt by a desperate NASA and White House-two struggling entities attempting to elevate a propitious find to the level of earth-shattering NASA victory. â€Å"You don't look too impressed,† Ekstrom said. â€Å"I guess I was just expecting something†¦ else.† Ekstrom's eyes narrowed. â€Å"A meteorite of this size is a very rare find, Ms. Sexton. There are only a few larger in the world.† â€Å"I realize-â€Å" â€Å"But the size of the meteorite is not what excites us.† Rachel glanced up. â€Å"If you would permit me to finish,† Ekstrom said, â€Å"you will learn that this meteorite displays some rather astonishing characteristics never before seen in any meteorite. Large or small.† He motioned down the passageway. â€Å"Now, if you would follow me, I'll introduce you to someone more qualified than I am to discuss this find.† Rachel was confused. â€Å"Someone more qualified than the administrator of NASA?† Ekstrom's Nordic eyes locked in on hers. â€Å"More qualified, Ms. Sexton, insofar as he is a civilian. I had assumed because you are a professional data analyst that you would prefer to get your data from an unbiased source.† Touche. Rachel backed off. She followed the administrator down the narrow corridor, where they dead-ended at a heavy, black drapery. Beyond the drape, Rachel could hear the reverberant murmur of a crowd of voices rumbling on the other side, echoing as if in a giant open space. Without a word, the administrator reached up and pulled aside the curtain. Rachel was blinded by a dazzling brightness. Hesitant, she stepped forward, squinting into the glistening space. As her eyes adjusted, she gazed out at the massive room before her and drew an awestruck breath.

Communication and Personality in Negotiation Paper

The act of negotiating happens on a daily basis sometimes without people even noticing. When thinking about negotiations, car purchases, salary increases, and buying new homes are obvious examples of negotiating. Nonetheless, negotiations are simple as deciding where to eat with a friend or family member.There are three main reasons for negotiating; deciding on how to split or share a limited supply, the reation of a new idea that involves more than the immediate parties, and to resolve issues between individuals involved (Lewicki, Barry, & Saunders, 2006). Everyone who has bought a new car knows that it is an exciting period in one's life, though a stressful one. The pleasantries start and end with the car itself as the stressful side to it is the negotiating with the dealership. Purchasing a new car is sometimes nerve racking and leads people to rush through the process Just to get it over with.Unfortunately, rushing is the last thing one should do because with the amount of oney o n the line, it is important that the purchaser understands the full parameters of what they are buying. Having the basic understanding of car negotiations through research and patience, will make the car buying experience much more enjoyable and worthwhile. Conducting Research Purchasing a new or used car has become must easier and fulfilling with the use of the internet. The internet is an open door resource to the car buyers where they can research dealer inventories, actual costs, consumer reports, and so much more.With his information, a buyer can be more prepared when walking through the doors of a dealership. Having the knowledge of how much a dealer has paid for the car immediately allows the consumer to gauge if the dealer's offer is reasonable or absolutely ridiculous. Before even stepping foot on the lot, knowing how much the car a buyer may want costs with all the desired options will allow a new buyer to negotiate effectively. Information is a strong mutual basis for pow er (Lewicki, Barry, & Saunders, 006) Witn this intormation, perspective buyers may nave the upper nand against a greedy dealership.Information is Power The power of information comes from each party or each negotiator have the ability to gather date that supports their position or argument. The majority of new car purchasers dislike the sight of a car salesman approaching as they enter the lot. Though this may be common throughout society, the ultimate purpose of the salesperson is to assist and serve the customer. The dealership is completely independent unless the car buyer decided to purchase. If the sale doesn't go through, the sales person, the management team, and the dealership will not get paid. Closing the deal is more important to the dealership.Therefore negotiating is the only way for both parties to get what they want. The best strategy for a consumer is to know exactly what they are looking for, such as a Sudan, SUV, 4WD, etc. Then test drive what meets those requireme nts and get an initial quote. Dealerships and car salesmen will expect a commitment from potential consumers, but it is important that there are no promises made on the initial visit. They may seem desperate and even provide sob stories, anything to close a sale, but staying firm and stating that here will be no purchases on the first visit is important in starting the negotiating process.Consumers who live in locations with various dealerships have an advantage because they can compare prices during negotiations which will get them closer to their desired price. As with other items supply has a direct effect on price. Dealerships will in most cases not allow a potential buyer to walk out with a quote in writing because they wouldn't want it to be matched or beaten by another dealership. Emotionless and Effective Communication When negotiating for any reason, it is important that one stays focused on facts ather than involving emotion and ego (Lewicki, Barry, & Saunders, 2006).Negot iating is essentially interactive communications through the use of verbal and nonverbal communication skills in efforts to resolve a conflict. Ineffective communications introduce negotiation problems, which is why it is critical that the negotiators efficiently. If negotiators know that humans communicate ineffectively, then this can lead to a better and more cautious approach to negotiations. Asking questions is a great way to increase the amount of information known as well as a great tactic to egotiating.The more questions a negotiator may ask, the more they may learn about the opposition which will give them the upper hand in negotiations. Without actually listening to the answer, the question is as pointless as communicating ineffectively. Therefore when asking information seeking questions, it is important that one waits and listens to the answer that is full of the information one may seek. Depending on how you perceive the answers, this information can have multiple meanin gs and in identifying those meanings without offending the opposition can be difficult.There exist three types of listening; passive, acknowledgement, and active listening. Passive listening is where the message recipient provides no reaction of the information accuracy. Without responding, the sender will continue to send information. Acknowledgment involves a little more effort on the recipient's end where they acknowledge that they are receiving the information which is being sent by the sender. This can include a constant eye contact, a nod, or responses such as â€Å"sure†, â€Å"l see†, or â€Å"go on. † This style of listening displays acknowledgement that the recipient is earing everything the sender is explaining.However it also gives the misinterpretation that the recipient agrees with the opposition. The third type of listening is active listening, where the receiver repeats or restates the sender's information through their own interpretation and wor ds. Active listening in the negotiations is a great way for one to encourage the opposition to elaborate on their views. This creates an open dialogue from one end and allows the receiver to have a clearer concept of what the opposition beliefs are and their supporting information.Studies on the effects of negotiation conflicts date back to the 1950's (Lewicki, Saunders, ; Berry, 2006). Similar research continues today where studies examine the fact-based variables like gender, ethnicity, age, marital status, socioeconomic status, and cultural background. Negotiations don't Just happen in hostage situations or when buying a car. They occur on a daily basis from determining salary increases or where the family should eat for dinner. The reason for the negotiation doesn't matter, what matters is the art in which one negotiates.If done properly, the egotiation could end in a positive manner by resolving the conflict. By gathering the appropriate information, organizing it accordingly, in taking available information from the opposition, and weighing the facts of both ends, negotiating may be far less complex. Effective communication in the verbal and nonverbal form is important to overall success. Organized information, effective communication, and active listening are important assets to effective negotiations.

Free Essays on Vietnam War Weapons

Vietnam War and the New Technologies it Brought. The Vietnam War produced some of the most advanced weaponry for jungle warfare of that century, which is still being used in today’s wars. The Vietnam War pushed the technology we had beyond what we ever thought could be possible. New types of bombs, new assault rifles, and new Air Vehicles. All the new technology possessed in the Vietnam War proved that wars of the future would be more dangerous than ever thought of before. There were many types of weaponry used in the Vietnam War. There were Automatic weapons, then there were vehicles, and last there were bombs, and grenades. There were all sorts of miscellaneous weapons in this war. In the Vietnam War, some of the most widely used weapons were the automatic weapons. Americans had varied types of weapons, compared to the VC. Americans had weapons like the M203 (m79), which had a range of 400meters and shot at a rate of 60rpm (Austrian Involvement, n-pag.). The m16A1, which had a built in grenade launcher. This made it more convenient for the soldiers. They didn’t have to carry grenades then(Austrian Involvement, n-pag.). One of the most common assault machine guns was the m60. This powerful gun shot at 1200rpms. It had a range of 500meters. One weapon commonly used among Austrian soldiers was the l1A1SLR. IT was a self reloading gun. Another popular gun was the 7.63mm PR43 SMG (Sub Machine Gun). This gun was simple, and robust. It had a firing rate of 100rpm’s. It had a range of 200m.(Austrian Involvement, n-pag.) Now for a weapon used by the VC. The AK 47. This weapon is actually very well known through out the world and is very p opular. IT was simple, and reliable. It was supplied to the VC by soviet and china. (Vietnam Online, n.pag.) A weapon used by the Americans was the m14. IT was semi-automatic, and had 20 round clips. It was accurate, but heavy.(Vietnam Online, n.pag.) The list goes on and... Free Essays on Vietnam War Weapons Free Essays on Vietnam War Weapons Vietnam War and the New Technologies it Brought. The Vietnam War produced some of the most advanced weaponry for jungle warfare of that century, which is still being used in today’s wars. The Vietnam War pushed the technology we had beyond what we ever thought could be possible. New types of bombs, new assault rifles, and new Air Vehicles. All the new technology possessed in the Vietnam War proved that wars of the future would be more dangerous than ever thought of before. There were many types of weaponry used in the Vietnam War. There were Automatic weapons, then there were vehicles, and last there were bombs, and grenades. There were all sorts of miscellaneous weapons in this war. In the Vietnam War, some of the most widely used weapons were the automatic weapons. Americans had varied types of weapons, compared to the VC. Americans had weapons like the M203 (m79), which had a range of 400meters and shot at a rate of 60rpm (Austrian Involvement, n-pag.). The m16A1, which had a built in grenade launcher. This made it more convenient for the soldiers. They didn’t have to carry grenades then(Austrian Involvement, n-pag.). One of the most common assault machine guns was the m60. This powerful gun shot at 1200rpms. It had a range of 500meters. One weapon commonly used among Austrian soldiers was the l1A1SLR. IT was a self reloading gun. Another popular gun was the 7.63mm PR43 SMG (Sub Machine Gun). This gun was simple, and robust. It had a firing rate of 100rpm’s. It had a range of 200m.(Austrian Involvement, n-pag.) Now for a weapon used by the VC. The AK 47. This weapon is actually very well known through out the world and is very p opular. IT was simple, and reliable. It was supplied to the VC by soviet and china. (Vietnam Online, n.pag.) A weapon used by the Americans was the m14. IT was semi-automatic, and had 20 round clips. It was accurate, but heavy.(Vietnam Online, n.pag.) The list goes on and...

Analysis of Antigone 1 Essay Example

Analysis of Antigone 1 Essay Example Analysis of Antigone 1 Essay Analysis of Antigone 1 Essay Essay Topic: Antigone Background Information on Antigone by Sophocles Before reading Antigone by Sophocles, discover some background information on the play, the author, and the time. In about 150-200 words compile that information and submit it in the submission window below. Learning some background information will help you understand the play. Look for information that will pertinent in understanding Greek Tragedy. Make sure you use your own words, quote when necessary, and include in-text citations. Keep the bibliographical information for inclusion on your works cited page if you choose to use any of this information in your final essay. This assignment will not be accepted after the due date and time. Antigone by Sophocles Final Project Instructions: You will complete a final project utilizing Sophocles’ Antigone. There are two parts to the final project. Part1: Complete a 500-750 word analysis of Antigone. In order to generate ideas for your essay, you should use the checklist located on pages 443 and 444 of your textbook. You will utilize two sources one must be an academic source located in the Broward College Database and the other source can be of your choosing as long as the source is credible. Part 2: You will view either one of the theatrical productions of Antigone and complete a 500-750 word evaluation of the performance (links are located on Blackboard). Review the information on pages 444-449 to help you complete the evaluation. You will need to identify which version you have evaluated and include the theatrical information on your works cited page. You will then put the two parts together and submit it as one complete project. You will utilize MLA in-text citations and works cited page to document information you have borrowed for this essay. Remember, you are completing an analysis not a summary. Requirements:  · 1,000- 1,500 Words Total  · Incorporate information from 2 secondary sources and lines from Antigone  · Review Appendix B â€Å"Documentation: Internal Parenthetical Citations and a List of (MLA Format)† starting on page 1366 in Literature for Composition

Sociology Of Education And The Role Of Education In Society Case Study - 3

Sociology Of Education And The Role Of Education In Society - Case Study Example According to Alan Barcan(1993), the word ‘sociology’ has come from the Latin word ‘socii’ meaning ‘groups’ or ‘allies’. This means that sociology is the study of social groups. The word ‘sociology’ was first used by Auguste Comte in 1837 and it was rough during the days of Comte, it has been explained by Craig J. Calhoun, & Joseph Gerteis(2007) that theories began to be sociological. Theories began to focus on social life as an object of study. This new perspective of the social side of human existence developed, argue Craig. J. et al (2007), due to the rise of science, individualism, modern states, large scale capitalistic markets, modern industry, and European explorations and colonization. Thus, as man’s life expanded beyond his town or village, he began to study to, to use the words of The British Sociological Association (BSA) ‘how society is organized and how we experience life’. Let us see the definition given by American Sociological Association (ASA) and find out where we can place education in the domain of sociology: This definition, especially its last point, tells us how sociology is related to education since it is a unification of all studies of mankind. Thus ‘sociology of education’ and ‘educational sociology’ are the sub-disciplines of sociology and education. Education of an individual is not only confined to an individual’s life but it is also a social phenomenon in reciprocal terms. An individual is influenced by society when he gets an education and, in turn, he may influence society after getting an education. All the people of great genius like Aristotle, Confucius, Homer, Sir Isaac Newton, Galileo Galilei, Albert Einstein, Pablo Picasso, Michelangelo, William Shakespeare, Abraham Lincoln, Mother Teresa, Nelson Mandela, and others in different fields, influenced society.

An overview of Mobile Commerce and Mobile Banking solution for the Essay

An overview of Mobile Commerce and Mobile Banking solution for the Unbanked in Sub Saharan Africa - Essay Example One of the cornerstone Internet technologies that have emerged in recent years is electronic commerce. Electronic commerce does not simply provide convenience to merchants and retailers, but has revolutionized many aspects of banking and even social life. One of the prominent sub-elements of electronic is mobile commerce. This is the combination of electronic commerce with mobile handset technology. This thesis specifically provides an overview of electronic commerce and the means by which it has been integrated with mobile technology. The thesis implements literature sources and industrial and practical articles from the telecommunications and mobile industries. The research is categorized in three main sections: the history of electronic commerce, GSM network elements, and finally the implementation of mobile commerce banking solutions in Sub Saharan Africa. In terms of the history of electronic commerce, background elements examine the way electronic commerce is implemented in con temporary contexts as compared to historical contexts. This section also examines the means of past and future growth of electronic commerce. ... The final section considers the implementation of mobile commerce banking solutions in sub Saharan Africa, with particular emphasis on Kenya. This section recognizes that there are a variety of mobile banking solutions that have gained widespread popularity in the region. This popularity is partially motived by the large-scale need for banking solutions for individuals with non-traditional incomes. The two major banking solutions considered in these regards are the M-PESA Banking solution and the Gemalto Mobile Banking solution. The technological aspects are examined, as well as the means of security they provide. Acknowledgements This thesis owes its existence to the help, support, and inspiration of many people. In the first place, I would like to express my sincere appreciation and gratitude to my supervisor Dr.Konstantinos Markantonakis for many hours of useful discussion, tirelessly reading and correcting my work, and suggesting many invaluable comments. Without his support, thi s thesis would not have been possible. I am also indebted to Dr. Chez Ciechanowicz for their care and guidance throughout my Master at Royal Holloway. In addition, I would like to thank the staff and colleagues in the Information Security Group for making my time at Royal Holloway an enjoyable one. Finally, and most importantly, I am most grateful to my family for their continuous and unconditional support throughout the period of my studies. Contents Abstract 2 Acknowledgment 3 CHAPTER 1: INTRODUCTION 8 1.1 BACKGROUND......................................................................................................8 1.1.1 The growth of e-Commerce/ m-Commerce...........................................8 1.2 Motivation

Legal Environment of Business3 Essay Example | Topics and Well Written Essays - 250 words

Legal Environment of Business3 - Essay Example r is not liable to the student loan because it is still part of the debts he has and when he is declared bankrupt, it means that even the student loan he has cannot be paid, hence he cannot be held liable. The trustee cannot enforce the lease as written because the initial lease when it was being signed indicated that the lease cannot be assignable, so despite the present circumstance the company is in, the lease statement still holds (Morgan et al 832). The government can claim from the first filing before the bankruptcy court appointed a trustee. This will therefore entitle the government to acquire and get its due before everything is fully under the trustee to supervise liquidation. Below cost pricing is where the price for a product or service is below the initial amount paid by the seller to acquire it. It can be shown when the profitability of a company reduces but its market share is going up and it attracts more customers. Competition pricing laws apply in such a case and the company can even be closed (Morgan et al 880). Yes it is legal to merge the two companies as they will be merged under the combination merger and the shareholders of each company will be the ones to decide if they want to have their shares back or they can get new shares from the new merged company. Yes the laws would apply since they are meant to protect the citizens from fraud. Since the products will be sold even in the United States, the laws would be enforced under the private suits section of the anti-trust laws (Morgan et al

America & Globalization Essay Example for Free

America Globalization Essay Abstract The purpose of this paper is to explore the idea that American corporations are working with international companies to help boost the economy. The paper focuses on the use of globalization as a primary tool towards accomplishing that goal. The paper also provides the reader with views from both supporters of globalization and opponents as well. The articles used for this paper give very interesting facts as well as views on both sides of the socio-economic table. In U.S Liberal Politics author Deborah White’s article â€Å"Pros and Cons of Free Trade† she discuses globalization in relation to free trade agreements and provides both pros and cons as well as a generalized definition of free trade. Meanwhile, Gary Hufbauer provides a more supporting article on Globalization supplied with studies and debates. As for Chris Isidore’s article, it focuses generally on the recessions from past to present and what trends are different and remain the same when it deals with the progression of the economy. Lastly, Wikipedia’s definition of †Globalization† lays out in detail the history, timeline, business applications, and etc. about the economic reference. In like manner, this paper examines the overall analysis of globalization and how it relates to boosting the economy. America Globalization One of the biggest topics today in America’s current events is the U.S. economy and the need for an economical boost. The U.S. declared the latest recession the biggest since the Great Depression. According to Chris Isidore (2010, p.1), â€Å"The Great Recession started in December 2007 and ended June 2009†. However, this information does nothing for the many Americans out of work, over-debt in their mortgage, and uncertain about their financial future. Nevertheless, seemingly, the American corporations have worked hard to try to find ways to help fellow Americans and boost the economy back to its median. One of the ways big corporations think will help is the use of Globalization. According to Wikipedia (2012, p.1) by definition, â€Å"Globalization refers to the increasingly global relationships of culture, people, and economic activity. It is generally used to refer to economic globalization: the global distribution of the production of goods and services, through reduction of barriers to international trade such as tariffs, export fees, and import quotas†. Comparatively, the United Nations Economic and Social Commission have also written that globalization is a widely-used term that can be defined in a number of different ways. When used in an economic context, it refers to the reduction and removal of barriers between national borders in order to facilitate the flow of goods, capital, and services and labor† In contrast, there are just as many people opposed to this idea as those whom support it. Deborah White writes (p.1), â€Å"One angry complaint is that more than three million U.S. jobs with middle-class wages have been outsourced to foreign countries since 1994.† It seems that the biggest obstacle is convincing the middle class that globalization is in fact, a good idea for the economy. Those same opponents believe that free trade has caused more U.S. jobs losses than gains, especially for higher-wage jobs. They also feel that many free trade agreements are bad deals for the U.S. Nevertheless, American corporations in conjunction with government officials are both working with other international companies to help boost our economy. To begin with, American corporations like the idea of boosting the economy through the use of globalization. Henceforth, with treaties like NAFTA (North American Free Trade Agreement) and organizations like NATO (North Atlantic Treaty Organization) America has been at the forefront of the campaign for the removal of barriers between national borders in order to facilitate the flow of goods, capital, services and labor. Moreover, as White writes (2012, p.2), â€Å"The purpose of free trade agreements is to allow faster and more business between the two countries/areas, which should benefit both.† Statistics show that globalization does help boost the economy. Gary Clyde Hufbauer writes in his article, â€Å"The Peterson Institute calculates that the US economy is approximately $1 trillion richer each year owing to past globalization—the payoff both from technological innovation and from policy liberalization—and could gain another $500 billion annually from futur e liberalization†. These are the numbers that motivate American Corporations. In addition, globalization helps increase sales and profits for U.S. businesses, which ultimately boost the economy. What the middle class does not understand is that globalizations tactics such free trade help create more jobs within the middle class sector for the long term. White also adds (2012, p.2), â€Å"Removal of costly and delaying trade barriers, such as tariffs, quotas and conditions, inherently leads to easier and swifter trade of consumer goods. The result is an increased volume of U.S. sales.† Globalization also helps to develop and strengthen the economy of the poorest countries as well. Some of the biggest benefits of poor countries through tactics like free trade are creating more industrialized nations and increasing the purchase of their natural resources and/or labor services. Condescendingly, there are just as many opponents to globalization and free trade as there are supporters. Many of those that oppose consists of middle class Americans and the congressman they elect. The biggest problem is a fear of the unknown. Middle class Americans don’t want to wait for the â€Å"long-term†. They want to continue to have the same security of employment as they’ve always had, which is understandable. Nevertheless, they also feel free trade agreements cause a loss in higher paying jobs. This is the basis or platform for the argument of the â€Å"War on the Middle Class†. The argument of free trade and globalization, although provides a soaring boost in corporate profits, individual wages stagnate. This leaves no room for the middle-class to advance. As White explains (2012, p.2), While corporate profits soar, individual wages stagnate, held at least partly in check by the brave new fact of offshoring that millions of Americans jobs can be performed at a fraction of the cost in developing nations near and far. All things considered, the determination of whether globalization is good for the economy will continue to be a debatable issue amongst those of different socio-economic groups. Nevertheless, there is no doubt that globalization has its pros and cons. The ultimate goal and mindset of American Corporations behind implementing globalization is to work with international companies in an effort to boost the economy. Famous investor Warren Buffet once said, â€Å"Someone’s sitting in the shade today because someone planted a tree a long time ago.’ Whether that shade tree is globalization, who knows? The ultimate goal is creating jobs and getting the economy back on course. References Deborah White. (2012) US Liberal Politics Pros and Cons of Free Trade Agreement. Retrieved from http://usliberals.about.com/od/theeconomyjobs/i/FreeTradeAgmts.htm Chris Isidore. (September 2010) Economy Recession officially ended in June 2009. Retrieved from http://money.cnn.com/2010/09/20/news/economy/recession_over/index.htm Gary Hufbauer. (May 2008) Answering the Critics: Why Large American Gains from Globalization Are Plausible. Retrieved from http://www.iie.com/publications/papers/paper.cfm?ResearchID=929 Wikipedia. (March 2012) Globalization Retrieved from http://en.wikipedia.org/wiki/Globalization