Communications Plan Essay

The Federal Aviation Administration (FAA) and TSA awarded a $37m grant for expansion projects at Denver International Airport. These funds are being used for the master plan projects. Approximately $11.6m will go towards rehabilitating runway 8/26, and over $1.7m will be used to improve the taxiway system surrounding Jeppesen Terminal. About $8.7m will be used to upgrade runway 16L/34R. About $15m from the TSA grant will be spent on improving the airport’s baggage screening system. Stakeholder Analysis To examine the role of the airport stakeholders a precise definition of stakeholders and their goals for the airport is necessary. The purpose of this section is to identify the airport’s goals from the point of view of each stakeholder group. 1) Passengers For passengers, the airport provides a transition point between the ground and air transportation modes, or a connection point between two flights. Different sub-types of passengers have been identified (Neufville & Odoni 2003): 1) Arriving passengers 2) Originating passengers 3) Transfer passengers 4) International and domestic passengers 5) Charter and low-fare airline passengers 6) Shuttle/commuter passengers These passenger types are not mutually exclusive; rather, an individual passenger may be a member of more than one subtype of passenger categories. Arriving and originating passengers are commonly referred to as origin and destination (O&D) passengers. Independent of the passenger classifications according to the above attributes, the passengers may be viewed in two different capacities in the context of this analysis. First, passengers can be viewed as participants in the economic system, either as business travelers or as tourist/leisure travelers, purchasing services from airport service providers and interacting in different ways with local businesses and the local community. Second, passengers can be viewed as individual travelers that have expectations about receiving quality services, and passing through the airport system in a convenient manner. These two perspectives have different implications on the goals for the airports and will be treated separately in the following sub sections. a) Passengers as Economic Participants Passengers may participate in the economic system in one of several ways: 1) As origin leisure/personal travelers: These are passengers from the local community that use the airport as their departure point for leisure or other personal travel. 2) As origin business travelers: These are travelers representing local businesses, using the airport as their departure point. 3) As destination leisure/personal travelers: These are visitors to the region, for tourism or other personal purposes. 4) As destination business travelers: These are business travelers coming to visit local businesses. If the airport’s traffic is heavily geared toward O&D traffic, then demand at the airport is more heavily dictated by the local economy. In contrast, significant connecting (transfer) passenger levels are less sensitive to the performance of the local economy, but those traffic volumes may represent vulnerability for the airport since they are to a greater degree dictated by a carrier’s viability and route decisions. Passengers contribute toward the financing of airport capital improvement projects through Passenger Facility Charges (PFCs) of up to $4.50 per passenger. PFCs are paid directly by passengers through airline tickets and proceeds must be used for capital improvements at the airport that collected them (Wells & Young 2003). The goals for passengers as economic participants relates to the cost of travel: Providing access to low airfares is a key objective for the airport in the view of air passengers. b) Passenger as Travelers When considering the passengers as travelers as a stakeholder group, the focus is on the passenger as an individual. The goal of the airport from the individual passenger viewpoint is, moving passengers quickly and conveniently to where they need to go. This view considers the airport as a transit point from one mode of transportation to another, or as a connection point between two different flights. Ensuring on-time performance was raised as the most important aspect to achieving this objective. 2) Business, Commerce, Tourism, Arts, Sports, and Education Organizations The organizations that in various ways are customers of the airport have been summarized as â€Å"business, commerce, tourism, arts, sports, and education organizations†. Some organizations are direct users of the airport by importing or exporting services (i.e. business travelers) and goods (raw materials or finished goods). Other organizations are indirect customers of the airport as a result of their custome rs (e.g. tourists) traveling through the airport. The term â€Å"organizations† is used to encompass both for-profit and not-for-profit organizations. Organizations Organizations whose clients arrive through the airport Organizations that are direct users of the airport Importers of services and goods Exporters of services and goods The airport serves as an engine of business activity for the organizations in the region. The airport drives and supports economic activity in several different ways, including both through business activities directly at the airport and through business activities throughout the regional economy (Button & Stough 2000). Underlying goals for maximizing this economic activity include maximizing passenger volumes and traffic at the airport as well as maximizing the number of destinations served and the frequency of those services (Matt Erskine, Greater Washington Board of Trade 2009). As a result of the different types of use of the airport described in the previous paragraph, the priority of one goal over another varies between organizations. 3) Air Carriers Air carriers provide the air transportation service from the airports. Air carriers include both passenger and cargo carriers and are classified into three subcategories (Environmental Protection Agency 2000): 1) Large certified carriers: These carriers have a certificate to carry 61 passengers or more, payload equal to or greater than 18,000 pounds, or conduct international operations. 2) Small certified carriers: These carriers fly aircraft that carry less than 61 passengers, carry less than 18,000 pounds, and do not conduct international operations. 3) Commuter carriers: These are air taxis with a published schedule of at least five weekly round trips between at least two airports. Air carriers select airports based on the passenger demand for service to/from the airports (i.e. revenue generation potential) and based on the cost of operating at the airport. The airlines have the objective of achieving high yields, (Doganis 2002). Airports serve the role of providing access to high yield markets. Attractive airports ensure low cost of air carrier operations at the airport. This includes both minimizing direct fees charged to air carriers through the maximization of non-aeronautical revenues (Dallas Dawson, Tampa International Airport 2009) and minimizing costs incurred by air carriers through delay on the ground (Peter Stettler, Ricondo and Associates 2009). An airport may serve either as a hub for a carrier, with a high portion of that carrier’s flights operating to/from the airport, or as a non-hub airport with a lower portion of flights for a given carrier (Belobaba et al. 2009). In either situation, the airport should act as an efficient hub/connection point, contributing to ensuring air carriers’ on time performance (Pat Oldfield, United Airlines 2009). In addition, it is the expectation of air carriers that airports ensure safety of operations on the airport surface (Kurt Krummenacker, Mood y’s 2009). 4) General Aviation Users General aviation encompasses many types of aviation outside the air carrier definition, including (Wells & Young 2003). 1) Air taxi operators (except those air taxi operators listed in section IV.A.3) 2) Corporate-executive transportation 3) Flight instruction 4) Aircraft rental 5) Aerial application 6) Aerial observation 7) Business 8) Pleasure Several of the goals listed for air carriers also apply to general aviation in terms of on-time performance, low costs, and safety. However, a representative of a business aviation organization defined the primary goal of airports as serving as access point to the national air transportation system by providing good availability and high capabilities in terms of instrumentation and services (Jeff Gilley, National Business Aviation Association 2009). 5) Airport Organization The airport organizational structure varies (Neufville & Odoni 2003) and can be comprised of an individual airport such as Dallas Fort Worth Airport (DFW) (DFW Airport 2009) or as a group of airports managed by the same organization, such as the Metropolitan Washington Airports Authority (MWAA) (Metropolitan Washington Airports Authority 2009). The airport organization is overseen by a board appointed by local governments. In larger airports or systems of airports, a common feature is that the organization includes a separation of operating units which carry out on-going management of airport operations, and they are separate from staff units which have responsibility for (among several other areas) infrastructure development (Neufville & Odoni 2003). The airport itself pays for some capital infrastructure projects. Airport operating revenues come from sources such as landing fees, terminal leases and proceeds from concessions sales. This revenue is used to pay for the airport’s operating expense, but any surplus can be used to contribute toward capital improvements. A set of goals for the airport organization can be derived from studying airports’ strategic plans and objectives and from interviewing airport management experts. The primary objective (sometimes referred to as the â€Å"mission†) of the airport is to provide access to high quality air services to its region. Other goals, such as ensuring strong financial performance and high operational efficiency, are considered as â€Å"means to an end† in that they enable the airport to achieve this overarching goal (DFW Airport 2008; Hillsborough County Aviation Authority 2006). A summary view of the airport’s goals is presented using the structure of Denver International Airport’s strategic plan (Denv er International Airport 2009): 1) Excel in airport management: This goal includes: a) Achieve high security and safety (City of Cleveland, Department of Port Control 2007; Denver International Airport 2009; Hillsborough County Aviation Authority 2006) b) Grow revenue and manage costs (City of Cleveland, Department of Port Control 2007; Denver International Airport 2009; DFW Airport 2008; Hillsborough County Aviation Authority 2006) c) Drive economic growth (Denver International Airport 2009) d) Grow passenger numbers (City of Cleveland, Department of Port Control 2007; Denver International Airport 2009) e) Provide access to a high number of destinations and a high frequency of service (Denver International Airport 2009). This goal relates immediately to the primary objective of the airport described above. Airport management must also achieve a balance where sufficient infrastructure capacity exists for handling traffic while capacity is at the same time not over-built (Paul McKnight, Jacobs Consultancy 2009; Frank Berardino, GRA Inc 2009). Additionally, a key objective for airports is to maximize non-aeronautical revenues since that provides diversified revenues and allows for keeping usage charges to air carriers low, thereby potentially attracting more traffic (Chellie Cameron, MWAA 2009; Peter Stettler, Ricondo and Associates 2009; Seth Lehman and Emma Walker, Fitch Ratings 2009). 2) Provide high levels of customer service: This goal includes ensuring a good experience for both passengers and other customers (City of Cleveland, Department of Port Control 2007; Denver International Airport 2009; DFW Airport 2008; Hillsborough County Aviation Authority 2006). 3) Develop environmentally sustainable practices and minimize noise: This goal includes minimizing emissions, energy consumption, etc., within the airport (Denver International Airport 2009; City of Cleveland, Department of Port Control 2007). Some airports, such as Sea-Tac, are also beginning to expand their focus by considering greenhouse gas emissions not only from the airport-controlled operations but also from airlines and other tenants as well as the public (Port of Seattle, Sea-Tac Airport 2007). Related to this is the goal of minimizing airport-related noise (Neufville & Odonin2003). 4) Develop high-performing employee teams: This goal relates to developing effective and skilled employees (City of Cleveland, Department of Port Control 2007; Denver International Airport 2009) and maximizing employee engagement (DFW Airport 2008). 5) Enhance competitive advantage: This goal includes providing competitive user rates and protecting the airport’s physical infrastructure (Denver International Airport 2009; City of Cleveland, Department of Port Control 2007). Some of these goals may be in competition with each other. For instance, the goal of maximizing non-aeronautical revenue can conflict with the goal of developing environmentally sustainability and providing a good experience for passengers: The latter two goals would be aided by promoting and developing access to public transportation access modes to the airport such as bus or rail. However, the goal of maximizing non-aeronautical revenue is better served by maximizing revenue-generation in the form of parking revenue from private vehicles. In such instances, airport management must balance the competing priorities in order to accomplish the goals of the airport. 6) Investors and Bond-Holders The majority of airport debt is of the general airport revenue bond (GARB) type. GARB means that the bond is backed by revenues generated from airport operations and not backed by any government funding source. The credit ratings agencies Moody’s, Standard and Poor’s, and Fitch Ratings participate in this system by assigning grades of investment quality to the airports’ bonds. The ratings agencies’ ratings affect the interest rates and terms of the bonds (Wells & Young 2003). A large number of factors impact the bond ratings, including: 1) Historical and projected population growth 2) Historical and projected employment expansion and mix 3) Passenger growth 4) Airport utilization trends 5) Portion of origin and destination (O&D) traffic 6) The importance of the facility to the overall US system of airports 7) Whether the airport is in a favorable geographic location (e.g. is it a natural hub location?) 8) Airfield capacity and attractiveness of facilities 9) Debt burden and carrying costs 10) Financial strength of carriers with a lot of connecting traffic, and their level of commitment to the airport 11) The role of the airport in the dominant carrier’s network 12) The level of legal flexibility for the airport to change the rates it charges air carriers 7) Concessionaires Airport concessionaires operate passenger services in terminal buildings and may include food and beverage services, retail services, and hotels. Concessions operators pay the airport organization a fixed annual fee and/or a percentage of gross revenues (Wells & Young 2003). Considering the concessions operators’ objective of maximizing profits, the goals of the airport for these operators are deduced to be maximizing passenger volumes and minimizing the fees paid to the airport organization. 8) Service Providers The service providers are private operators that offer services to air carriers and general aviation users. Independent operators may supply these services (e.g. fixed-base operators, FBOs), but some of the services may also be provided by the airport operator, the airline itself, or by another airline. Services provided include (Neufville & Odoni 2003): 1) Supply of aviation fuel and oil 2) Baggage handling and sorting 3) Loading and unloading of aircraft 4) Interior cleaning of aircraft 5) Toilet and water service 6) Passenger transport to/from remote stands 7) Catering transport 8) Routine inspection and maintenance of aircraft at the stands 9) Aircraft starting, marshalling, and parking 10) Aircraft de-icing 11) Passenger handling (e.g. ticketing and check-in) 12) Cargo and mail handling 13) Information services 14) Preparation of handling and load-control documents 15) Supervisory or administrative duties Similar to concessionaires, independent service providers pay a fee to the airport organization which is typically a percentage of gross revenues (Neufville & Odoni 2003). In a parallel to concessionaires, service provider goals for the airport would include maximizing traffic volumes and minimizing the fees paid to the airport organization. 9) Employees The employee category includes both direct employees of the airports organization as well as employees of companies operating at the airport, such as concessions operators. Some employees are organized into unions, such as the Service Employees International Union (SEIU USW West 2009) and Unite Here (Unite Here 2009). The objective of the airport from the perspective of those unions is to provide secure jobs, wages, and benefits (Unite Here 2009). 10) Federal Government The federal government participates in the airport system in three different roles: As a bill-payer, as an operator, and as a regulator. Each of these roles will be addressed in this section. In terms of the government’s role as a bill payer for the system, the Airports Improvement Program (AIP) is administered by the FAA and its funding comes from the Airport and Airway Trust Fund, which in turn is funded by user fees and fuel taxes. AIP funds can be applied toward projects that support aircraft operations including runways, taxiways, aprons, noise abatement, land purchase, and safety, emergency or snow removal equipment. In order to be eligible for AIP funding, airports must be part of the National Plan of Integrated Airport Systems (NPIAS), which imposes requirements on the airport for legal and financial compliance (Wells & Young 2003). The NPIAS has two goals: To ensure that airports are able to accommodate the growth in travel and to keep airports up to standards for the aircraft that use them (FAA 2008). The government’s role as airport operators includes three different agencies: 1) FAA: The FAA is the operator of ramp, ground, local, and departure/arrival air traffic control services (United States Code of Federal Regulations 2010). 2) Transportation Security Administration (TSA): The TSA provides passenger and baggage security screening services. The TSA states that it is the goal for its baggage screening operations to screen for explosives and other dangerous items while maximizing efficiency (Transportation Security Administration 2009). This can be translated to state that it is the goal for the airport to ensure secure transportation of people and goods while minimizing the impact of security measures on legitimate travelers and goods. 3) Customs and Border Protection (CBP): The CBP is responsible for operating passport control and customs inspections at international airports. The CBP states that it is its mission to protect â€Å"our nation’s borders from terrorism, human and drug smuggling, illegal migration, and agricultural pests while simultaneously facilitating the flow of legitimate travel and trade† (Customs and Border Protection 2009). Just as for the TSA, this can be translated to state that it is the goal for the airport to ensure secure transportation of people and goods while minimizing the impact of security measures on legitimate travelers and goods. Lastly, the federal government is a regulator of the airports system. Airports that are included in the NPIAS are subject to a number of federal regulations that are enforced by the FAA and the Transportation Security Administration. The regulations apply to both the airport infrastructure as well as to service providers within the airport systems. The purpose of these rules is to ensure the safe and efficient operations of public-use airports (Wells & Young 2003). 11) Local Government US airports are with few exceptions not private, profitmaking enterprises. Instead, airports are typically owned and operated by public entities such as cities, counties, or local airport authorities (Neufville & Odoni 2003). For instance, Washington’s Dulles and National airports are owned and operated by the Metropolitan Washington Airport’s Authority (MWAA). The MWAA is officially a body independent of the local government but its board is appointed by the Governor of Virginia, the Mayor of the District of Columbia, the Governor of Maryland and the President of the United States). Similarly, Newark, LaGuardia, JFK, Stewart International, and Teterboro airports in metropolitan New York City are owned by the Port Authority of New York and New Jersey (The Port Authority of New York and New Jersey 2009). Dallas-Fort Worth Airport is jointly owned by the City of Dallas and the City of Forth Worth (DFW Airport 2009). The government owners in the form of city and local governments are represented by an airport board which is responsible for the strategic direction of the airport and for appointing airport management (Wells & Young 2003). The local government is supported in an advisory role by federally funded Metropolitan Planning Organizations (MPOs) who are charged with assisting in planning for aviation and other transportation infrastructure for the local region (Association of Metropolitan Planning Organizations 2010). State and local government also contribute as bill-payers for capital improvement projects (Airports Council International – North America 2009). The objectives of the airport from the point of view of the local government is representative of those of the local community it represents and involves both maximizing its positive effects while minimizing its negative effects. One form of positive impact of the airport is in the shape of economic effects. There is significant literature on the economic impact of airports. However, many studies are sponsored by the airports authorities themselves, making them more political than analytical. Although there may be no definitive measure of the economic impact of airports, a structure for the types of impacts of airports to their regional communities has proposed (Button & Stough 2000): 1) Short-term impact from construction, expansion, and renovation of airports 2) Sustained impact in the form of jobs at the airport (direct impact) and off-airport jobs that result from the â€Å"multiplier effect† of the income generated by employees at the airport 3) Stimulus of the local economy as a result of firms and individuals having air transportation services at their disposal 4) Spurring other economic development by crossing thresholds for economies of scale, scope, and density. The authors note that this last form of impact is very difficult to quantify. COMMUNICATION PLAN Communication Objectives The objective of this strategic communications plan is to serve as a road map for how communications will be done between members of the project team as well as the stakeholders.. This plan comprises objectives, strategies and tactics for how team correspondence will be performed between each facet of the project team.. Works Cited Kurt Krummenacker, Moody’s, 2009. Interview of Kurt Krummenacker, Moody’s, by David Schaar, George Mason University. Metropolitan Washington Airports Authority, 2009. Metropolitan Washington Airports Authority, Facts. Available at: http://www.mwaa.com/about_the_authority/facts [Accessed October 15, 2012]. Neufville, R.D. & Odoni, A.R., 2003. Airport systems, McGraw-Hill Professional. Port of Seattle, Sea-Tac Airport, 2007. Port of Seattle,Seattle-Tacoma International Airport,Greenhouse Gas Emissions Inventory – 2006, Sarkis, J., 2000. An analysis of the operational efficiency of major airports in the United States. Journal of Operations Management, 18(3), 335-351. Sarkis, J. & Talluri, S., 2004. Performance based clustering for benchmarking of US airports. Transportation Research Part A: Policy and Practice, 38(5), 329-346. Schap, D., 1986. Municipal ownership in the electric utility industry, Praeger. SEIU USW West, 2009. SEIU USW West – About Us. Available at: http://www.seiu-usww.org/about/Default.aspx [Accessed October 16, 2012]. Smith, D.M., 1979. Where the grass is greener, Taylor & Francis. The Port Authority of New York and New Jersey, 2009. Overview of Facilities and Services – About the Port Authority. Available at: http://www.panynj.gov/about/facilities-services.html [Accessed October 18, 2012]. Transportation Security Administration, 2009. Transportation Security Administration – What We Do. Available at: http://www.tsa.gov/what_we_do/index.shtm [Accessed October 16, 2012]. Unite Here, 2009. Unite Here. Available at: http://www.unitehere.org/about/airports.php [Accessed October 16, 2012]. United States Code of Federal Regulations, 2010. Title 14,Part 91. Available at: [Accessed February 5, 2010]. Upham, P.J., 2003. Towards sustainable aviation,Earthscan. US-Citizens Aviation Watch, 2009. US-Citizens AviationWatch. Available at: http://www.us-caw.org/ [Accessed October 16, 2012]. Wells, A.T. & Young, S.B., 2003. Airport planning &management, McGraw-Hill Professional. White, E.T., 1976. Utilities, Dept. of Defense, National Defense University, Industrial College of the Armed Forces. Wolfe, H.P. & NewMyer, D.A., 1985. Aviation industry regulation, SIU Press.

John Dewey-Role of the Teacher Essay

John Dewey An American philosopher, psychologist, and educational reformer, John Dewey (October 20, 1859 – June 1, 1952) was one of the recognized founders of Pragmatism and a leader in progressive movement in U. S. education during the first half of the 20th century. The individual being, its relationship with the organizational or societal dynamics as well as the reason or logic around it is the essence of progressive philosophy of John Dewey. Cooper (1995) in Wells (2006) states that problem solving and creating skills, needed for in today’s world is emphasized in a progressivist curriculum which should be built around the students’ needs and personal experiences and it is a must for a teacher to present lessons that simulate a real-life situation to their students. Teachers’ understanding of an individual should be based on critical analysis evaluation using practical or realistic verification. Dewey (University of Albany, 2006) states that a person using the â€Å"problem solving approach† and the â€Å"experimental focus† of scientific method to govern their own life was the building block of how reasonable and ethical organizations operate and that school should be â€Å"child centered† with the curriculum and instruction tailored to facilitate the development of the individual. According to Sidorsky (1977), Dewey called as oppressive the elementary and secondary schools for they do not promote exploration and growth, thus, through his works a number of reforms in schools around the U. S. were implemented to enhance the development of free personalities. Dewey’s belief (1938) that schools should teach its students how to think rather than learning rote lessons and develop analytical approach in problem solving in real life situations. According to Campbell (1995), Dewey espoused judgment focus schools rather than knowledge should be developed and used in order for school children to become mature persons and can give sound judgments on the problems of human living. Further, he believes that schools, as an institution, should inculcate in the minds of the students and put to practice the learned techniques on how to live and work cooperatively and harmoniously with others. As Dewey’s beliefs focused on the learner’s right to participate on any decision that will affect their learning, he was more concerned with teachers’ rights as well as their academic freedom. Flanagan (1994) states that Dewey’s aim was to create a laboratory school where children are free to learn for themselves with an able tutelage from a professional mentor. It was in the old school according to Dewey (Flanagan, 1994) that the teachers forced the learners against their will or interest in order to learn the structured or established subjects. There were two main teacher functions according to John Dewey. First, the teacher must guide the young learner through life complexities and give them opportunities to learn in the natural way by means of solving relevant problems. Second, a teacher must also enable the young learner to adequately cope with contemporary conditions and the new tasks, which an unforeseeable future may bring. In Dewey’s type â€Å"classroom,† the teachers should plan its lessons in order to arouse students’ curiosity and push them to a higher level of knowledge thus encourage them to learn by doing and to interact with one another, and develop cooperation and tolerance as a virtue. Also, they are encouraged to solve problems on a variety of actual situations which they may encounter outside the four walls of the classroom and in the process develop flexibility in problem solving as well as in acquiring needed tools necessary for adulthood (Wells, 2006). Progressivists’ Dewey according to Wells (2006) believes that this approach to education is a perpetually enriching process of ongoing growth. The critical thinking skills development can be best achieved through soliciting queries from students. In a progressive classroom, the teacher creates practical activities that would guide the students through problem solving and show its relevance to their lives outside of the classroom. Wells (2006) also states that these teaching methods also include guided discovery and hands-on learning. She stated that not only do the students discuss what they are learning, but they also experience it through role-playing. Finally, according to Wells (2006), the progressivist teacher believes that in â€Å"hands-on† approach, children will learn better. Dewey (1938) in Flanagan (1994) wrote that teacher’s school presence as community member was to select the influences that will affect the young learner and to assist them in the appropriate responses to the given influences and not to impose upon them certain ideas or to form certain habits. Further, the teacher’s business is simply to determine, on the basis of varied experiences and sound wisdom, how the disciplines of life shall develop the personality of the child. According to Dewey (1938) it is the primordial obligation of an educator to comprehensively understand the nature of human experiences otherwise they will fail in their responses to young learners. In Neil (2005), it was stated that experience arises from the interaction of two principles — continuity and interaction as conceptualized by Dewey. In sum, individual’s present experience is a function of the interaction between one’s past experiences and the present situation. Finally, an environment full of socially-interacting relationships coupled with relevance and responsive to young child’s needs is the key to learning. The students, in this type of environment, create relationship between their classmates, friends or between them and their teachers thus facilitate their learning. These relationships make the children more comfortable and safe and in return they receive good learning needed in their lives. References: Campbell, J. (1995) Understanding john dewey. Nature and co-operative intelligence, Chicago: Open Court. Dewey, J. (1938) Experience and education, New York: Collier Books. Dewey, J. (1938/1997). Experience and education. Macmillan. Flanagan, F. (1994). John Dewey. The great educators,’ First series. Minerva – An Internet Journal of Philosophy. Volume 1. Retrieved March 15, 2006, from http://www. ul. ie/~philos/vol1/index. html Neill, J (2005). 500 Word summary of dewey’s â€Å"experience & education. † Retrieved March 15, 2006, from http://www. wilderdom. com/ experiential/SummaryJohnDeweyExperienceEducation. html Sidorsky, D. (1997). John dewey: the essential writings. New York: Harper and Row, 1977. Wells, C. (2006). My teaching philosophy. Retreived March 15, 2006, from www. webpages. csus. edu/~sac40265/teaching. htm.

The comparison of capital structure across industry in UK Dissertation

The comparison of capital structure across industry in UK - Dissertation Example This research work aims at reviewing the literature and identifying the factors which determine the capital structure of firms, and then empirically investigating the relationship between leverage and factors influencing it in different industries in the United Kingdom, which include basic materials sector, financial services sector, customer services sector, consumer goods sector and real estate sector. In this regard, the researcher has made use of secondary sources of information to collect information required for analysis and has conducted descriptive and statistical analysis. The results obtained do not exactly match with the findings form the literatures. OLS method is used to test four hypotheses based on the factors affecting leverage ratio or debt-to-equity ratio using 40 companies from each of five sectors. Only in case of basic materials sector the model is significant and we find a significant relationship of leverage ratio with free cash flow and tax benefits. Again for financial services sector tax benefits is significantly associated with leverage but other variables are not. Amongst the control variables (tax benefits and growth rate) only tax benefits is inversely related in case of basic materials and directly related in case of financial services. ... es Figure 1: Preliminary Understanding of Debt to Equity Ratios in the Sectors Selected 33 List of Tables Table 1: Preliminary Understanding of Debt to Equity Ratios in the Sectors Selected 32 Table 2: Descriptive Findings – Basic Materials 34 Table 3: Descriptive Findings – Financial Services 35 Table 4: Descriptive Findings – Consumer Services 35 Table 5: Descriptive Findings – Consumer Goods 36 Table 6: Descriptive Findings – Real Estate 37 Table 7: Regression Analysis – Basic Materials Sector 38 Table 8: Regression Analysis – Financial Services Sector 39 Table 9: Regression Analysis – Consumer Services Sector 41 Table 10: Regression Analysis – Consumer Goods Sector 42 Table 11: Regression Analysis – Real Estate Sector 44 Chapter 1 – Introduction 1.1. Background to the Context At present all the major business organizations are uncertain regarding the fiscal decision which has to choose between the organi zational debts and its equity capital (Kuhn, 2006). The capital structure of an organization has a direct influence either positive or negative (Bierman, 2003), on the output i.e., revenue and profits and the business. The basic target of researchers while investigating capital structure, were mainly the developed countries particularly UK. Researchers have shown that firms of developing nations tend more to raise capital through equity while developed nations raise capital through leverage or external debt. The legal conditions and tax incentives play a significant role in a firm’s decision about capital structure. Hence a nation with underdeveloped capital market conditions and low protection of creditors will choose internal sources of funds (Baker and Martin, 2011). Decisions regarding capital structure are not an easy task (George,

Corporate Risk Management Essay Example | Topics and Well Written Essays - 1250 words

Corporate Risk Management - Essay Example The expenditures of the business in order to compensate the physical damages of workplace and manpower could serve as important inputs in the process of capital budgeting that has the objective to determine the actual net present value and internal rate of return of the business (Shapiro, 2008, p. 42). Firm’s exposure to physical risk The physical risk is the foremost risk that affects the organization and its people. The establishments, factories, plants and buildings in which the business is carried out as well as the employees of the business house are subject to physical risk. The physical risk to the business occurs as result of the uncertainty of the occurrence of unforeseen situations and accidents that badly affects the infrastructure of the business and its entire business set up. The physical risk may occur due to the unfortunate incidents of fire breakout in the company buildings. There may be accidents as a result of the explosions happening inside the workplace (M egginson and  Smart, 2008, p. 63). The companies spend substantial amounts in setting up the business infrastructure. A huge amount of expenditure is incurred by the business in constructing the office set up, the interior decoration and the wooden construction for making the buildings and its rooms suitable for official use. The other expenditures include glass fittings, work place arrangement of improved designs. The corporate look in the offices is due to the standardization of the infrastructure for business that is required to be established in the workplace. The occurrence of fire accidents and small explosions inside the office buildings are huge risks as it destroys the infrastructure for carrying out business operations and also injures or adversely affects the manpower resources of the business. The physical risk for the business may also be due to the spillage of hazardous materials in the workplace. The hazardous materials like the acids, gases, toxic wastes, and toxic fumes could adversely affect the employees of the company which would in turn affect the business operations. Physical Risk consideration in Capital budgeting The capital budgeting techniques are aimed at assessing the feasibility of the business investment in a particular project. The capital budgeting techniques assess the viability of business investments with the help of various approaches that determines the extent to which the business is profitable. The assessment of the business takes into account the risk of the business. The physical risks associated to the business takes into account the several factors of uncertainty that would reduce the net valuation of the business or the expected return from the business investments (Chandra, 2008, p. 96). The consideration of the physical risk is thereby necessary to determine the feasibility of the investments through Capital budgeting techniques. The various capital budgeting techniques used to judge the viability of the investme nt are the Net Present Value method, the Internal Rate of Return, etc. The Net Present value of the business is the actual present value of the business adjusted with the initial investments required for starting the project (Lumby, 1988, p. 84). The Net Present Valu

Image of Nurses Essay Example | Topics and Well Written Essays - 750 words

Image of Nurses - Essay Example From the survey results, it was quite evident that people’s perceptions of nurses and nursing are quite different from the ideal picture painted by nursing professional institutions and the nurses themselves. Out of the six individuals who responded to the mini survey, two believed that the image of nurses and the nursing profession is negative while the remaining four individuals believed that nurses and their profession are flawless. An image refers to the mental picture that represents something real. In the nursing profession, image signifies the nurse’s professional qualities, as well as the conduct that represents the nurse’s competence (D'Antonio, 2010). The majority of the sample group believed that nurses encompassed highly qualified persons within the nursing profession. In addition, nurses provide holistic health care to groups and individuals and take on responsibilities and duties in an autonomous manner. Nurses provide health services on all spectru ms of the health care scheme such as the primary, secondary and tertiary levels and take on key responsibilities in education and maintaining the welfare of the focus group, i.e. patients. The sample group also believed that nurses are independent professionals who work within a nursing team. Moreover, nurses are highly active members of medical teams that provide health care and look after the health of patients (Polifko-Harris, 2007). Nurses provide comprehensive care to persons of all ages, socioeconomic status and cultural background on the basis of the patient’s emotional, physical, intellectual, psychological, spiritual and social needs. The sample group further noted that nurses are staunch advocates for the promotion of safe environments, innovative medical research, practical participation in determining health policy and in patient and health care system management and education. The mini survey group asserted that nurses provided unbiased care to all ill persons. T his is in keeping with the professional requirements. The nursing profession is a robust combination of technology, social science, physical science and nursing theory in caring for patients. The group also argued that the nursing profession provided clear guidelines to guide the conduct and practice of nurses while adhering to professional principles and standards. The foundation of the nursing profession is the provision of high-quality health care, communication, education, advocacy and maintenance of positive and unbiased attitude when dealing with patients. When questioned on the difference between Licensed Practical Nurses (LPNs) and Registered Nurses (RNs), the sample group acknowledged that a key difference lies in their academic qualifications. An RN is a nurse who graduated from a four-year nursing program. RNs hold a Bachelor of Science degree or have a two-year nursing program with an Associate’s Degree. An LPN is one who has graduated after undergoing a one-year practical nursing program. RNs, therefore, have higher educational qualifications than LPNs. As such, RNs have greater knowledge of clinical practice, delivery systems, research utilization, resource management, physiology and pharmacology (Polifko-Harris, 2007). With regard to their responsibilities, RNs have more responsibilities than LPNs. In some instance, RNs supervise LPNs since RNs can make independent decisions, while LPNs cannot. Moreover, RNs address more issues than LPNs. LPNs have a multitude of

Psychology Research Paper Example | Topics and Well Written Essays - 750 words - 2

Psychology - Research Paper Example He was devoted in the field of physiology and even won the 1904 Nobel Prize for his work in physiology (Martin, 1988). Even though Pavlov was never a psychologist and never wanted to be associated with psychology, he is one of the greatest contributors to the field of psychology. He came through most of his findings through experiments that he performed on animals such as dogs. One of his greatest contributions to the field of psychology is classical conditioning. This is one of the most useful discoveries in the field of psychology and most psychology students have to pass through it in their early years of study. While studying the digestive system of his dog, he noticed something that was very interesting and that led to the development of classical conditioning. He noticed that whenever his assistant entered the room, his dog would immediately start salivating. In the experiment, they started introducing different items to measure the level of salivation that the dog had. He later went on to note that salivation was an automatic response or reflex process (Prokasy, 1965). From the experiments and their outcomes, Pavlov was able to conclude that salivation was a response that could be learned. He noted that the dogs were responding to different stimuli that were presented to them just before food was delivered. They therefore learnt to connect these things with food. He noted that there was the salivary response which came when the dog was presented the food and the conditioning reflex that came when the dog was expecting food. After several experiments, he noted that there was a conditioned stimulus which was food for the dogs and the response which in this case was salivation. This discovery is still the most important discovery in the field of psychology. Apart from the fact that this discovery led to the formation of behavioral psychology, the discovery is used today in the treatment of some health issues as well as the modification of behavior

The Firms Expansion Strategies Essay Example | Topics and Well Written Essays - 1000 words - 1

The Firms Expansion Strategies - Essay Example The market expansion strategy though initially appeared like need to flex its financial muscle against its rivals but after an examination revealed critically and affirmed my learning experience that these strategies are well-calculated strategic management initiatives aimed at enhancing the company’s growth and development to expand beyond the overcrowded domestic domains. My knowledge of the companies’ competitive advantage in terms of price discounting and efficient supply chain management assisted me to gain a deeper understanding of the mechanisms of such terms that had previously only seemed theoretical and impractical. Â  The assignment therefore greatly enhanced my prior knowledge of diverse economic terms and models, thus ensuring there is more deeply entrenched in my mind. The assignment has, therefore, made me better comprehend the classroom learning to a more practical level. the research made me come to term with the real meaning of strategic management in regards to marketing strategies as well as being able to adequately read financial data to ascertain a company’s performance indexes both in the short term (quarterly or annually) and long-term (five years). The study was, therefore, a veritable learning curve for me.

Husky Injection Molding Systems Case Study Example | Topics and Well Written Essays - 1250 words

Husky Injection Molding Systems - Case Study Example Faced with such situations, it is proposed that Husky needs to develop strategic plans that are appropriate, which when effectively implemented are likely to lead to realization of the company’s goals. The report looks at the problem facing Husky by carrying out in-depth analysis of the industry, before providing recommendations and action plan for the recommendations. The concentration and preference for the recommendations is motivated largely by the internal and external environment Husky operate in, resources the company has, and the exhibited market potential and future sustainability of the company. Therefore, the recommendations are perceived to fit well with Husky’s strategic growth needs - expansion, profitability, and continuity. Husky Injection Molding Systems Ltd Background In 1953, Robert Schad established Husky Injection Molding Systems Ltd (Husky para.1). Since its creation, Husky Injection has established itself as one of the cherished and celebrated bra nds in the supply of injection molding equipment and services to the plastic industry. The company owns one of the broadest product lines in the industry, and the company’s products are used by clients in manufacture of a range of plastic products that include bottles and caps for different beverages, food containers, components for automotives, and consumer electronic parts (Husky para.2). At the same time, the company takes part in manufacture of hot runners, robots, and other secondary systems used in plastic manufacture. Since its establishment in 1953, all the way to early 1990s, Husky experienced accelerated growth that was accompanied by increased profits before the fortunes shrunk in early 1996. Starting in 1996, Husky became victim of slowed growth and reduced profits as competition in the industry became inevitable, specifically from low-price competitors. Also contributing to Husky’s dwindle was the increasing shortage of resins that constitutes raw material s for plastics, which led to plummeting in machine demand. The severity of these incidences could not be wished away or ignored; rather, it called for decisive actions by the company. In such scenarios, the company is forced to develop winning strategies if it has to survive and continue into the future. Faced with availability of numerous options in terms of strategies, the best alternative option becomes a problem and this calls for the company to have thorough understanding of both the internal and external environments in which it operates. Problem Statement Husky Injection is a kind of company that has grown and realized satisfied performance due to presence of a formidable internal leadership culture that Robert Schad created in the company. Customer-centered values, hard work, environmental consciousness, egalitarianism, perfectionism and good health constitute the main categories the company has prioritized its values. Robert Schad owns majority of shares in the company (60% ), a situation that makes it possible to arrive at key decisions affecting the company. Coupled with vast experience of many years, Schad remains the pivotal and fulcrum of the company as far as strategic planning take-off is concerned. Apart from possessing a strong internal management culture, Husky prides itself in possessing core values that place the company above others. Research and development (R&D) remains the bedrock of the company’

'The War on Terror produces more terrorism' Essay

'The War on Terror produces more terrorism' - Essay Example According to them, terror should be dealt with in a different way. Even though certain democrats accept the fact that applying force is necessary in certain cases, a complete solution can be achieved only by improving the ideological appeal and moral authority of the United States. More efficient democracy and smarter techniques to better relationship between nations would help reduce terror in the world. Improving cooperation among nations would eliminate misunderstandings and other issues that generates enmity between nations. According to the critics of Bush, the war on terror has contributed only in creating more terrorists. War on terror has not eliminated terror from the face of the earth. War on Terror produces more terrorism. The United States should change course completely as war on terror is expected to give birth to more terrorists. War on terror is not the right action as it cannot wipe out terror. The war on terror is found to be causing more terrorism. According to new reports the United States has played a major role in making the world more terror-filled. The world has become unsafe not just for non-Americans, but for Americans as well. The war on terror has given birth to more terrorism. Innocent people in different parts of the world are suffering because of the ‘Iraq effect’. ... Research studies have been performed to study the effect of Iraq issue on global terrorism. According to the research, the number of people lost their lives in jihadist attacks in different parts of the world has increased dramatically after the beginning of the Iraq war in 2003. The research compared the events between Sep 11, 2001 and the attack of Iraq. Excluding the Arab-Israel conflict, the count of deaths increased from 729 to 5420. Apart from conflicts in Europe, wars happened in Kashmir and Chechnya. The Centre on Law and Security (in NYU Foundation) who performed the research reported that there has been a steady rise in the number of deaths due to war and conflicts. After the attack on Iraq, terrorist activities have increased considerably. War on terror has contributed to more terrorist activities on various parts of the world. According to the reports Iraq became the reason for a fierce fundamentalist reaction that caused more terror. Iraq affairs have encouraged more ter rorist attacks that ever before. Muslim activists and terrorists became more active than ever after Iraq affairs. The number of people killed by Islamists in Iraq increased from 7 to 3,122. Afghanistan also witnessed an increase in terrorist activities as the British and US forces invaded them after the attacks of Sep 11. The number of deaths in Afghanistan was few in 2003. The number of deaths increased to 802 since then. In the conflicts at Chechen, the number of deaths increased from 234 to 497. In the Kashmir issue, Pakistan and India had their number of deaths increase from 182 to 489. Europe that had zero deaths had it increased to 297 in the terror activities. War on

A research strategy for a topic of security risk analysis Essay

A research strategy for a topic of security risk analysis - Essay Example The researcher states that it is necessary to understand the importance of conducting quantitative research within the information security field to become familiar with the challenges one faces when addressing an issue in question. Besides, to have a clear picture of the challenges in quantitative research methods, a research strategy must be evaluated to determine the pros and cons related to sampling, validity, reliability, and bias during a study. In fact, the evaluation of each criterion within a hypothetical study will include the use of online survey research to collect data from participants without the need for additional investment in hardcopy materials and travel expenses. Therefore, to become familiar with the challenges of quantitative research using an online research methodology, the sampling, validity, reliability, and bias will be analyzed by selecting a strategy to conduct a hypothetical study on security risk management. This will determine the viability of the onl ine survey strategy in the information security field. The viability of the online survey methodology will depend on internal and external factors during the process of research management. Before selecting and implementing a research method during an information security study, it is necessary to understand the research question and then define the hypothesis to determine the direction of the research. The direction of the research will be determined by the topic under investigation, thus establishing a clear strategy to obtain the necessary data needed to complete the study. As disclosed by Cook and Cook (2008), the research design will be based on the research question, so that the study will be able to answer the main hypothesis. Then the data gathering must be elaborated on using quantitative research methods based on the variables illustrated in the hypothesis. Indeed, using quantitative research methods will allow the researcher to present the results of the data collected us ing statistical displays to make a correlation between the dependent and independent variables being studied. Before the selection of a research methodology, internal and external validity must be considered before adopting an instrument. Nevertheless, before making a final decision on the preferred instrument, well-defined research questions must be formulated. The research questions must be related to the main hypothesis to acquire the best results and to illustrate the importance of quantitative research within the topic being studied. The research questions must address the purpose of the data to be collected corresponding to all independent variables to understand the behavior of the dependent variable. For this reason, if a study titled â€Å"Security controls as a tool of security risk management in business revenue† will be conducted to understand the reliability of security controls in protecting business revenue, the research question will be â€Å"Are security con trols reliable in protecting the business revenue†. The dependent variable is business revenue and the independent variable is reliability of security controls. The research hypothesis is that security controls are reliable for protecting business revenue. This will give a direction to the research. Indeed, the development of an instrument and the implementation of a research method will be based on the research questions to be asked to the targeted population to acquire a

Thomas Jefferson’s Declaration of Independence Essay Example for Free

Thomas Jefferson’s Declaration of Independence Essay Thomas Paine’s Common Sense and Thomas Jefferson’s Declaration of Independence are two important and popular persuasive documents in American history. Both documents were written in 1776 about the same subject (Famighetti 512; Independence Hall Association 1999). However, as one reads the different documents one would observe the difference in tone and styles adopted by each author to express their ideas. As persuasive works both presents the current problems that they were facing, both give reasons as to why the problem was occurring and both presents a solution to the problem. The subject of both documents was Great Britain’s relationship with the American colonies. Both documents were written at a time when Great Britain was pressuring the American colonies to pay unreasonable and unfair taxes to her (Perry 431). Paine had felt that Great Britain was abusing its power while Jefferson argued that Great Britain was a tyrant. Then each author proceeded to enumerate their own reasons why they think it was so. In view of the current circumstances, both authors had felt that the colonies should free itself from Britain’s rule. In communicating his ideas, Thomas Paine’s Common Sense was written more in the direction of an editorial persuasive essay that aimed to make the people become aware of what was really going on between Britain and the American colonies. In the opening paragraph Paine clearly admit that what he was about to say may not be the general belief or views of his readers, â€Å" perhaps the sentiments contained in the following pages are not yet sufficiently fashionable to procure them general favor†( Independence Hall Association1999 ). He was merely presenting his opinion regarding a certain situation. On the other hand, Jefferson’s works was already a call to action as if the people already knew what was going on. The assumption that he was addressing to people who already knew the real situation was in the statement, â€Å"When, in the course of human events, it becomes necessary for one people to dissolve the political bands which have connected them with another† (Fameghetti 512), as if implying that certain events of which the people were aware of is now leading them to separate from Britain. In other words, Common Sense was educating the people while The Declaration of Independence was largely calling the now â€Å"educated† people to action. Thomas Paine’s discourse was merely voicing his opinions and informing the people of the real situation, his tone of voice was more of calm persuasion as if he was waking up the general American public from a long sleep of indifference and ignorance when he observes that the Americans were in â€Å"a long habit of not thinking a thing wrong† which â€Å"gives it a superficial appearance of being right†( Independence Hall Association 1999 ) . Paine then ended his document with a suggestion of what the American people should do. Jefferson on the other hand, adopted a more confident, assertive and with a sense of urgency tone in his work, with the goal of rallying more sympathizers and followers to the cause of independence and urging them to make an immediate action. This can be supported by the fact that by the time the document was conceived and read, not all Americans agreed to the separation (Perry 431). Yet Jefferson used the â€Å"We hold these truths to be self-evident†, using the word â€Å"we† to mean that he was assuming that all Americans was sharing his views and with this regard he was playing the role as the voice of the American people (Fameghetti 512). Unlike Paine, Jefferson ended the document not with a suggestion but with a bold announcement for the need of separation (Fameghetti 513). Moreover, the organization of both documents was different. Jefferson took a rather direct and abrupt approach in communicating his views. He immediately introduce his ideas in the beginning few paragraphs citing John Locke’s â€Å"inalienable rights† as the main basis for his argument and without much hesitation supported his view on separation by listing Britain’s faults. The theme of his works was more to justify American acts of rebellion so that other nations such as Spain and France from which they hope to gain support for their cause will not consider their revolutionary actions as illegal acts of rebellion (Maier 43). Paine, on the other hand, adopted a storytelling format in presenting his views. He took pains in providing background information about his subject (Independence Hall Association 1999). He examined every detail and favorable examples and presented them as logical explanations in support of his views of why it is better for a nation to be independent of Britain. When one examines each documents, one can conclude that in Common Sense, Paine acted as a persuasive educator, whose role was only that of a man who had the task of arousing the interest of his readers to side with his views while Jefferson acted more as an active leader of rebellion, whose main goal was to inspire the people to make immediate action in response to their belief that Great Britain should not rule over them. Works Cited Famighetti, Robert. The World Almanac and Book of Facts 1996. New Jersey: Funk and Wagnalls Corporation, 1995. Independence Hall Association. â€Å"Common Sense by Thomas Paine†. 1999. US History Organization Website. Accessed April 4, 2008 http://www. ushistory. org/paine/commonsense/singlehtml. htm Maier, Pauline. American Scripture: Making the Declaration of Independence. New York: Alfred A. Knopf, 1997. Perry, Marvin. A History of the World. New York: Houghton and Mifflin, 1988.

Tesco Utilising the Marketing Mix Essay Example for Free

Tesco Utilising the Marketing Mix Essay Tesco is one of the world’s international retailers and is recognised as the market leader in the UK supermarket sector. Tesco state that their core purpose is ‘to create value for customers to earn their life time loyalty’ Evaluate how Tesco and other supermarkets utilise the marketing mix to compete in the market place. Tesco is the leading retailer with a market share in 2010 of 29.7% (Wright, 2012), a reason they have proven to be such a successful business is because of their well thought through slogan ‘every little helps’ which is simultaneously used to shape their core values, the slogan is now embedded throughout every aspect of the organisation. Tesco along with many other business use the marketing mix model, otherwise known as the 7 P’s to set effective business strategies in order to provide a good quality of service to their customers. To compare the broadness of the way the marketing mix works for different businesses another leading supermarket chain should be chosen. Asda in 2010 had a market share of 16.9% (Wright, 2012) also applies the marketing mix in considering any values or goals. Consequently their slogan is ‘Asda, always cutting prices’ Asda’s slogan is used similarly to Tesco’s as a means of shaping the business. This ethos is used in order to sell their brand effectively to get a higher amount of Revenue. In a highly competitive market, Tesco and Asda need to make sure the marketing mix model is considered effectively to ensure the business is strong enough to survive in the supermarket sector, meaning all core values must be relevant and work effectively for these profit orientated businesses allowing them to reinvest and develop their brands. Price is a section of the marketing mix, when considering prices if a product is priced too low or too high, it could mean a loss of sales for an organisation. Tesco attempt to meet the consumers in the middle by having lower prices that still give them a reasonable amount of profit. One of their aims is ‘continually increase value for money’ they did this by completing a basket scheme where they then implemented individual prices per product line to insure no major price difference between them and Asda  (Anonymous, 2000). However the problem Tesco are facing is that 80% of consumers fell into the squeezed middle bracket (Wood, 2011), consequently Tesco is having to cut the price of essentials and enforce a psychological pricing strategy to attract customers who are now below the middle class category to ensure they keep their revenues high. Compared to Asda’s more laid back approach where their policy is to have ‘permanently low price through a rollback scheme’ research shows that their prices are on average 5-10% cheaper than the market average (Anonymous, 2000), after looking over Asda’s pricing methods it seems the favoured pricing strategy is the Economy pricing (Anonymous, 2003) where all costs are kept low to insure cheaper products and to make sure a mass market of consumers can afford various products due to the lower prices. Product is a key part of the marketing mix, it involves the brand itself and the service a business is providing to gain a large amount of capital and attract customer loyalty. Tesco’s have expanded into many different markets with their range of products from petrol to food and clothes. It’s become clear to Tesco now that it’s value or basic range has become considerably popular and Tesco’s Value brand is now one of the biggest grocery brands in the UK, even bigger than large popular businesses such as Coca-Cola and Walkers (Anonymous, 2008). This break through has allowed Tesco to focus on other aspects of it’s product portfolio leading them to introduce over 2,000 new and improved food products after looking over customers reviews about product quality being increasingly important to them (Tesco PLC, 2011) as well as looking closer at it’s newer ventures, like Tesco bank and the Tesco’s in Korea. However, when considering all the ranges of products Asda’s would find it difficult to compete with all their products as they are mainly focused on cheaper products which shows as around half their products sales are own label products (Walmart, 2010) Asda mainly focuses on their own brand products as they are the higher sellers and so they ensure there’s a continuous flow of new product innovation so that they are ahead of the consumers needs (Walmart, 2010). Place in the marketing mix looks at where the product/service is sold whether it’s on the internet, a small corner shop or a massive shop. A new place for the supermarket sector to sell at is the internet, because more and more consumers are working longer  hours to get money it is simply much easier for them to do an online shop rather than having to go to the shop, which is shown well in Tesco’s new advert. Tesco’s have made the internet shopping experience their own as they are currently the fastest growing online retailer in volume terms in the clothing, footwear and accessories market (Tesco PLC, 2011) as well as a 15% growth in the online business (Tesco PLC, 2012) proving that when they invested in the internet shopping experience they have helped ‘to create a value for customers to earn their life time loyalty. As well as this, they understand the local market of stores where some local stores have lower prices on a limited range of goods (Anonymous, 2000) building up customer relations to create higher quality services and increase the customer loyalty. Asda has also advanced onto the online shopping hype and has found that in 2009 the home shopping growth was around 40% (Walmart, 2010) Asda understand that this is a growing trend and so have invested into developing new channels and finding innovative ways of reaching customers whether they are at home on the move o r in store (Walmart, 2010), one of the new creations for Asda is an app store which shows they are modernising with the times. Promotion is a vital way in advertising a company, product or service as a means of branding, as well as offering money off deals to make consumers feel like their saving money. A way Tesco’s has managed to keep customer loyalty as well as creating lots of promotional deals is the Tesco club card, which was launched in 1995 (Tesco PLC, 2011). The clubcard allows a customer to collect points for money vouchers which consumers can then spend in store or online. This method allows consumers to get money back from their purchases therefore convincing them to revisit the store to get a return on their spending, this helps with improved customer loyalty as well as high brand awareness. Asda take a different approach and chose not to create promotional deals, but instead highlight their cheaper products this is the Asda rollback scheme. Asda is Britain’s lowest cost to operate supermarket (Walmart, 2010) and so their promotion is the brand and the fact that Asda have a permanently low prices policy, which means consumers feel they would save more money allowing them to have more disposable income and spend more money on extravagant products in Asda if they wish. People are an essential part of the marketing mix, as it relates to the consumers, labour, suppliers, and stakeholders anyone who helps the business stay afloat. Tesco  invest in their staff skills to insure a high quality service, as well as being dedicated to providing a diverse career opportunity for all their staff worldwide (Tesco PLC, 2011), this would provide employees with greater job satisfaction and the opportunity of being promoted. As well as internal affairs, Tesco also thinks about the people externally of the business, as there is increased demand for locally produced food, therefore Tesco now supports the local economy to assist in s ustaining the community and so has increased the local buys from  £850 million in 2009 to  £1 billion in 2010 (Tesco PLC, 2012) to ensure local suppliers are support after the shake of the financial crisis. This is also better for the consumers as imports are more expensive so product costs can be cut. Asda has an ‘everyone matters’ approach demonstrating that colleagues are a vital resource, to ensure the staff are content Asda has flexible working practices and world class reward packages which since it was launched in 1999 has given out  £129 million in bonuses. Asda also likes to help the community so a lot of the suppliers are local, consequently products are cheaper and they have less environmental impact reducing their carbon footprint (Walmart, 2010). Process relates to delivery and the responses to any complaints, for example customer services. Tesco wanted to get customer feedback so introduced ‘every comment helps’ the feedback was based on customer service and product range the got over 20,000 positive responses which reflects on the business well. Tesco has since train around 80,000 staff as a means support them to give helpful advice, be friendl y and efficient. Also keeping up with technology and providing the self service system which currently accounts for around 10,000 transactions per week, this makes queue times shorter as well as being a quick and easy option to make shopping a more pleasurable experience (Tesco PLC, 2011). Asda has provided 1,100 vans, from 160 vans and one dedicated home shopping center that provides coverage for 97% of the UK, therefore a large consumer base is met with only a few people not being able to be delivered to providing a very efficient service (Walmart, 2010). Physical evidence considers the atmosphere of the business and the effect the business has on consumers whether it’s good or bad. Tesco puts staff through training to provide consumers with the best possible service, because of the high levels of engagement customers are able to enjoy the benefits of Tesco’s having confident and experienced staff on hand to help at any given  moment (Tesco PLC, 2011). This provides the Tesco shopping experience with a more relaxed experience for consumers who can be comfortable to ask employees for help. An ex-employee for Asda said how it was a ‘fun and vibrant culture to work in, and how there were regular meetings at the start of shifts to keep all staff updated. How he was lucky enough to be accepted in the stepping stone scheme which trains up employee to promote them up levels in the business,’ (Tasda123, 2007) after analysing the employee review you can really feel how positive the experience is working at Asda, and a positive employee attitude would rub off on a customer meaning they will have a good experience too. As long as the feelings of the employees of businesses are positive then the shopping experience can be enjoyable rather than a chore. After looking over two of the largest supermarket retail you can see how well thought about the individual parts of the business is, every part has been considered. It may be that for some businesses one or multiple sections of the mix has more relevance to their main aims, for example if Tesco wants ‘to create value for customers to earn their life time loyalty’ they may primarily look at promotion and process to enable the best service they could supply to their customers. The supermarket sector is competitive and so utilising the marketing mix has helped Tesco and Asda to develop their own individual take on the sector, to form their own unique business strategies from what they may have researched using primary or secondary data. Looking closer at Tesco and Asda, you can see some similarities, but in the end, they are different in order to compete to gain a higher market share and increase market share. The different parts of the mix will show the effectiveness of the business to increase capital, Tesco has a large range of products at varied prices whereas Asda has a more limited amount of products and the prices are cheaper with the idea that customers can afford to buy more of their products and spend more. After looking over how two businesses in the same sector apply the marketing mix you can observe that they compete from the start in order to gain an increased brand awareness, to do this they must look at each part of the mix to discover it’s overall ethos for which Tesco’s is ‘every little helps’ and Asda’s is ‘Asda, always cutting prices’ both are completely different to attract consumers. Currently statistics show that Tesco’s mix is more effective than Asda, this is because they have invested capital in expanding  all parts of the mix to appeal to a mass market. If used efficiently the marketing mix is useful for competing, to show a business what it’s internal and external running’s are like so that they can establish their ethos to market the business effectively to gain a larger holding in the sector it works in, therefore insuring the marketing mix is thought through properly will help in establishing a business. Bibliography * Anonymous (2000) (Journal) Company pricing policies, Competition Commission, p. 80, p87-88. * Anonymous (2003) (Website) Pricing Strategies, [Online], Available: http://marketingteacher.com/lesson-store/lesson-pricing.html [2012]. * Anonymous, T.- (2008) (Website) Things You didnt know, Tesco Report, pp. 120-121, Available: http://www.superbrands.co.il/pdf/TESCO.pdf. * Tasda123 (2007) (Website) Being an ASDA colleague, 14 February, [Online], Available: http://www.dooyoo.co.uk/employment/asda-stores/1046495/. * Tesco PLC (2011) (Report) Tesco Annual Report 2011. * Tesco PLC (2011) (Report) Annual Reports And Financial Statements 2011, p.18 p.37, p.49. * Tesco PLC (2011) (Website) Timeline, Tesco, Available: http://www.superbrands.co.il/pdf/TESCO.pdf. * Tesco PLC (2012) (Website) Growing Retail services, [Online], Available: http://ar2011.tescoplc.com/business-review/growing-retail-services.html [2012]. * Tesco PLC (2012) (Website) Local Sourcing, [Online], Available: http://www.tescoplc.com/corporate-responsibility/our-sourcing-policies/local-sourcing/. * Walmart (2010) -Asda Home Shopping, All About Asda, p. 15. (Report) -Our Digital Business, All About ASDA, p. 15. -Our Food, All About Asda, p. 10. -Our Story. and today, All About Asda, p. 3. -Our Suppliers, All About Asda, p.7. -What We Love About Asda, All About Asda, p. 6. * Wood, Z. (2011) -Tesco declares war on rivals with  £500m price cutting offensive, The Guardian, September. (Journal) * Wright, C. (2012) Tesco market share at its lowest since May 2005, The Grocer. (journal)

How portfolio diversification can minimize or eleiminate exposure risks to portfolios

How portfolio diversification can minimize or eleiminate exposure risks to portfolios Portfolio diversification is the means by which investors minimize or eliminate their exposure to company-specific risk, minimize or reduce systematic risk and moderate the short-term effects of individual asset class performance on portfolio value. In a well-conceived portfolio, this can be accomplished at a minimal cost in terms of expected return. Such a portfolio would be considered to be a  well-diversified. Although the concepts relevant to portfolio diversification are customarily explained with respect to the stock markets, the same underlying principals apply to all types of investments. For example, corporate bonds have specific risk that can be diversified away in the same manner as that of stocks. In investment Risk and Return, it is assumed that all investors are rational and will therefore hold portfolios that are diversified to the point where specific risk has virtually been eliminated and their only exposure to risk is to that which is inherent in the market itself . Thus, the residual risk of a portfolio should be equal to market risk, which is systematic risk, and unsystematic risk. Unsystematic risk can be reduced by investing over a broader market, i.e., a larger universe. Portfolio diversification provides a good example of the effects of diversifying across asset classes. A portfolio invested 50% in domestic large-cap stocks and 50% in international large-cap stocks would have approximately half the residual risk of a portfolio comprised solely of domestic large-cap stocks, assuming that the investments in each market were sufficiently diversified to eliminate specific risk. CAPM and the Market Price Risk: The theory that investors are not rewarded for holding any diversifiable risk is taken to its logical limit in the Capital Asset Pricing Model (CAPM). This model is based on the evidence that all investors will hold portfolios which are invested in every single asset in existence. The rationale behind this is that if an investible asset is not included, then an opportunity for diversification, and therefore risk reduction, has been missed. According to the theory, investors will combine the market portfolio with a risk free asset (e.g. a short term government debt instrument). The proportion of the risk free asset held will increase the greater the investors risk aversion. The CAPM, which is concerned with pricing market risk, when determining what additional expected return is required for additional market risk. The only risk considered by a rational investor is market risk; we need to measure each securitys risk in these terms. The key elements here are as follows: The higher the weighting a security has, the greater will be its influence on the market return. The risk if measured in terms of market risk, the greater must be the compensating expected return. The higher the risk free rate, the higher will be the required expected return. http://www.investing-in-mutual-funds.com/portfolio-diversification.html http://www.investorwords.com/3083/modern_portfolio_theory.html Diversification works in the long run, despite rising correlations during extreme financial crises. From 1970  through 2007, a portfolio of 60 percent  SP 500 Index  and 40 percent  MSCI EAFE  returned 11.3 percent per year with an annualized  standard deviation of 13.75 percent. For the same time period, the SP 500 returned 11.1  percent per year with an annualized  standard deviation of 15.07 percent. Even when you throw a devastating and volatile year like 2008 in the mix, the benefits are still apparent. From 1970 through June 2009, the diversified portfolio had higher returns with less volatility than the SP 500 alone. The diversified portfolio returned 9.6 percent per year with an annualized  standard deviation of 14.6 percent, while the SP 500 returned 9.4 percent per year with an annualized  standard deviation of 15.6 percent. The conclusion from this data is not that diversification didnt work in 2008 and that it came back in 2009. The conclusion is that even though diversification is not a panacea for financial crises,  its the winning strategy for the long run. http://moneywatch.bnet.com/investing/blog/wise-investing/international-diversification-does-it-still-work/637/ How Does Diversification Work The concept is based on the fact that returns for certain types of investments, or asset classes, tend to move in opposite directions. As a result, poor stock returns may be counterbalanced by investments in bonds, and vice versa. You can diversify your portfolio by spreading your investments among different types of asset classes, such as U.S., international and emerging market stocks, bonds and also short-term money market investments. Exchange traded funds are an effective way to provide diversification since each individual fund holds hundreds of stocks and/or bonds. Diversification can substantially reduce the variability of returns without an equivalent reduction in expected returns. This reduction in risk arises because worse than expected returns from one asset are offset by better than expected return from another. But there is a minimum level of risk that cannot be diversified any way and that is the systematic portion. In volatile markets relationship among investments can become highly correlated, meaning returns for both types of investments move in the same direction, which reduces the effectiveness of diversification. Thats why a portfolio diversified among stocks and bonds still lost value during both recent bear markets. Its also why investments spread across U.S., international and emerging-market stocks didnt fare well either. All major investment sectors but one, government securities, declined. Its a good idea to see if your diversified portfolio still reflects your financial situation and goals.. If youve set up a 60/40 stock/bond investment mix but havent changed it in a year, you may need to rebalance your portfolio since your equity-oriented mutual funds likely fell in price more than your income-oriented mutual funds in the past year. In this case, if you want to maintain your 60/40 mix, youll have to sell some of your bond funds and invest the proceeds into equity funds. Diversification does help, however, and it always has even if, during extreme times, it hasnt been able to prevent losses entirely. Its true that, with the exception of government securities, all investment sectors were hit by the 2008-2009 declines. But investors with a diversified portfolio of stocks and bonds lost a lot less than those with an all-stock portfolio even one that included international or emerging market stocks. Diversification also worked for investors during the first bear market of this decade: the 2000-2002 dot-com declines. The chart above is relatively easy to interpret; we consider the risk-free asset Rf with its corresponding Beta of zero and return of 8% and our stock with its Beta of 1.6 and its expected return E(RA) of 20%. When we connect the dots and measure the slope of the line (rise/run), we get a slope of 7.5%. From this graph, we can ascertain that our stock has a reward to risk ratio of 7.5% meaning that our stock has a risk premium of 7.5% for each unit of systematic risk. Obviously, the higher the reward to risk ratio, the better, meaning wed want to see higher E(RA) and/or lower Beta; either of which would increase the slope. In a final example, let us now compare our stock in the previous example (called Stock A) with a second stock (Stock B). Stock B has a Beta of 1.2 and an expected return E (RB) of 16%. When we construct our Security Market Line, we end up with a slightly different picture than we had with Stock A. The reward to risk ratio (or slope of the line) for Stock B is 6.67%. What this tells us (all other things equal) is that in essence, Stock A is a better choice than Stock B simply because it generates more reward for each unit of systematic risk undertaken. This analysis is especially useful when one is selecting portfolio components and wants exposure to a particular industry or sector, has multiple candidates, but doesnt want to include them all for fear of being overweight that particular area. In this manner, the candidates may be lined up and compared to see both visually and quantitatively where the best bang for the buck lies. http://www.marketoracle.co.uk/Article12274.html http://www.moneychimp.com/articles/risk/efficient_frontier.htm A closer look at the investment returns of a 100% U.S. stock index compared with a diversified investment mix of 60% stocks and 40% bonds between December 31, 2007, and June 30, 2009, shows that diversification was effective over that period. An investor in a diversified 60/40 mix lost 18%, or about half as much as the all-stock index, which lost 35%. International investors were hit hard as well: The MSCI ACWI (All Country World Index) ex USA, which doesnt include the U.S. market, lost 37% and the MSCI Emerging Markets Index declined 36%. For the 2000-2002 bear market, an all-stock portfolio fell 47.4% while the 60/40 mix declined only 16.8%. In fact, a diversified portfolio has helped investors weather market volatility over several different time periods. For the past three years, an all-stock portfolio lost 22.7% while the 60/40 mix declined only 5.4%. During the past five years, the stock portfolio lost 10.7% while the mix increased 4.7%. And as of June 30, 2009, over a full 10-year period, the stock portfolio lost 20.1% while the diversified mix gained 19.4% an almost 40% advantage over stocks. http://www.management-hub.com/portfolio-modern-theory.html As a conclusion I would say portfolio will work as long as the assets in the portfolio are negatively correlated and they are being taken from different markets and different kind of assets. Because if one asset returns drops still other assets return can increase. So portfolio diversification is still working. 2) The relationship between risk and return is a fundamental financial relationship that affects expected rates of return on every existing asset investment.   The Risk-Return relationship is characterized as being a positive or direct relationship meaning that if there are expectations of higher levels of risk associated with a particular investment then greater returns are required as compensation for that higher expected risk.   Alternatively, if an investment has relatively lower levels of expected risk then investors are satisfied with relatively lower returns. This risk-return relationship holds for individual investors and business managers.   Greater degrees of risk must be compensated for with greater returns on investment.   Since investment returns reflects the degree of risk involved with the investment, investors need to be able to determine how much of a return is appropriate for a given level of risk.   This process is referred to as pricing the risk. http://uwf.edu/rconstand/5994content2003/T1-Overview/T1-OverviewP04.htm http://gbr.pepperdine.edu/091/realestatemarkets.html Return Characteristics of  Public and Private Real Estate   Public and private equity real estate has been the relationship between these two markets in terms of risk and return characteristics. The most well-known private real estate performance benchmarks around the world are the NCREIF (U.S.), the PCA (Australia), and the IPD indices in various European countries. Pubic real estate benchmarks include NAREIT (U.S.), SP/ASX200 LPT Index (Australia), GPR (Global), and FTSE EPRA/NAREIT (Global). Taking these total return indices at face value, public and private real estate markets in the past have behaved differently, with public real estate showing greater volatility. Furthermore, correlation studies of private and public real estate indices show that, while both have low correlations with bonds and large-cap stocks, they also have low correlations with each other, and in general, public real estate displays a higher correlation with small stocks. As for the portfolio diversification effects of publicly listed real estate securities, the private real estate portfolios with 10 percent mixes of REITs resulted in higher risk-adjusted returns for all three countries (see below). The results imply that a holding in U.S. REITs would lead to improvements in portfolio performance even if the optimal portfolio already contains private real estate. Several other studies show similar results. According to a portfolio diversification study performed by Ibbotson Associates in 2006, adding REITs to a wide selection of diversified portfolios, from 1972 to 2005, enhanced risk-adjusted returns as compared with portfolios without REITs. Furthermore, research sponsored by the European Public Real Estate Association showed significant portfolio benefits to using real estate securities from six European countries GOLD. Risk in relation to gold is very high as it is a volatile asset as changes take place rapidly and its expected to have a high return. It can be seen that gold is more negatively correlated to U.S. stocks than any of the other asset classes. If an investor has a safe and physical gold, the cost of keeping the gold will be practically nothing. One other quality that makes gold a sound investment is its ease to liquidate. It is common that most businesses that sell gold will usually also buy gold, making gold one of the easiest assets out there to sell. One last characteristic that makes gold one of the greatest  investments  out there is golds intrinsic value and lack of counterparty risk. Other assets like a stock can become worthless overnight if the company was not run correctly or if its goods or services for any reason becomes obsolete; but because of golds intrinsic value and its lack of counterparty risk. Gold is unlikely to become worthless overnight. http://www.articlesbase.com/franchise-articles/gold-the-characteristics-of-gold-1374624.html#ixzz12gAMsAf8   http://www.articlesbase.com/franchise-articles/gold-the-characteristics-of-gold-1374624.html

The Ebola Virus :: Ebola Hemorrhagic Fever

The Ebola Virus A virus is an ultramicroscopic infectious organism that, having no independent metabolic activity, can replicate only within a cell of another host organism. A virus consists of a core of nucleic acid, either RNA or DNA, surrounded by a coating of antigenic protein and sometimes a lipid layer surrounds it as well. The virus provides the genetic code for replication, and the host cell provides the necessary energy and raw materials. There are more than 200 viruses that are know to cause disease in humans. The Ebola virus, which dates back to 1976, has four strains each from a different geographic area, but all give their victims the same painful, often lethal symptoms. The Ebola virus is a member of a family of RNA viruses known as ‘Filoviriade' and falling under one genus, ‘Filovirus'. "The Ebola virus and Marburg virus are the two known members of the Filovirus family" (Journal of the American Medical Association 273: 1748). Marburg is a relative of the Ebola virus. The four strains of Ebola are Ebola Zaire, Ebola Sudan, Ebola Reston, and Ebola Tai. Each is named after the geographical location in which it was discovered. These filoviruses cause hemorrhagic fever, which is actually what kill victims of the Ebola virus. Hemorrhagic fever as defined in Mosby's Medical, Nursing, and Allied Health Dictionary as, a group of viral aerosol infections, characterized by fever, chills, headache, malaise, and respiratory or GI symptoms, followed by capillary hemorrhages, and, in severe infection, oliguria, kidney failure, hypotension, and, possibly, death. The incubation period for Ebola Hemorrhagic Fever ranges from 2-21 days (JAMA 273: 1748). The blood fails to clot and patients may bleed from injections sites and into the gastrointestinal tract, skin and internal organs (Ebola Info. from the CDC 2). The Ebola virus has a tropism for liver cells and macrophages, macrophages are cells that engulf bacteria and help the body defend against disease. Massive destruction of the liver is a hallmark feature of Ebola virus infection. This virus does in ten days what it takes AIDS ten years to do. It also requires biosaftey level four containment, the highest and most dangerous level. HIV the virus that causes AIDS requires only a biosaftey level of two. In reported outbreaks, 50%-90% of cases have been fatal (JAMA 273: 1748). Ebola can be spread in a number of ways, and replication of the virus occurs at an alarming rate.

Intellectual Property and Internet Piracy Essay -- Exploratory Essays

Intellectual Property and Internet Piracy With the emergence of the Internet, intellectual property faces a new dimension of crisis. Intellectual property has become an even more significant issue because of that. According to World Intellectual Property Organization, â€Å"Intellectual property refers to creations of the mind: inventions, literary and artistic works, and symbols, names, images, and designs used in commerce.† (WIPO 2003) Works online are easy to be copied/reproduced or altered such as art work, software, and articles. Although piracy has existed for a long time, the Internet has made piracy never been easier with a click of mouse. In the following paragraphs will explore issues regarding piracy and ownership, solution to the crisis of intellectual property, and the paradox of invention of new technology. Intellectual property has become much more difficult to maintain because of the enormous capacity of the Internet which is mainly self-regulated and promotes freedom of speech. Art works whether it is an image, a song, or a movie can be easily uploaded and downloaded on the Internet. For example, MP3 files compress music files into a small file thereby allowing users to upload and download much more rapidly and effortlessly. Music-swapping not only not realizing music artists’ efforts and have caused the music industry loose huge amount of record selling and decrease their profits. Remember the infamous Napster lawsuit where Napster was being sued for its copyright infringement. Furthermore, not only software can be downloaded from the Internet, the registration codes can also be cracked down, therefore, people can use the software as long as they like instead of using the trial version. People ... ...cyberlaw/archives/11_02_decoy.htm>, consulted on November 24, 2003. * The Massachusetts Daily Collegian (2003). â€Å"Today: the solution to music piracy surfaces†. Online at: , consulted on November 24, 2003. * GameSpy Industries (2003). â€Å"Software Piracy Report: Part 1†. Online at: , consulted on November 10, 2003. * CCIPS (2003). â€Å"Computer Crime and Intellectual Property Section (CCIPS): Protecting Intellectual Property Rights: Copyrights, Trademarks and Trade Secrets†. Online at: , consulted on November 10, 2003. * CNN.com (2003). â€Å"Napster shutdown seen as potential boon for competitors†. Online at: , consulted on November 20, 2003. Intellectual Property and Internet Piracy Essay -- Exploratory Essays Intellectual Property and Internet Piracy With the emergence of the Internet, intellectual property faces a new dimension of crisis. Intellectual property has become an even more significant issue because of that. According to World Intellectual Property Organization, â€Å"Intellectual property refers to creations of the mind: inventions, literary and artistic works, and symbols, names, images, and designs used in commerce.† (WIPO 2003) Works online are easy to be copied/reproduced or altered such as art work, software, and articles. Although piracy has existed for a long time, the Internet has made piracy never been easier with a click of mouse. In the following paragraphs will explore issues regarding piracy and ownership, solution to the crisis of intellectual property, and the paradox of invention of new technology. Intellectual property has become much more difficult to maintain because of the enormous capacity of the Internet which is mainly self-regulated and promotes freedom of speech. Art works whether it is an image, a song, or a movie can be easily uploaded and downloaded on the Internet. For example, MP3 files compress music files into a small file thereby allowing users to upload and download much more rapidly and effortlessly. Music-swapping not only not realizing music artists’ efforts and have caused the music industry loose huge amount of record selling and decrease their profits. Remember the infamous Napster lawsuit where Napster was being sued for its copyright infringement. Furthermore, not only software can be downloaded from the Internet, the registration codes can also be cracked down, therefore, people can use the software as long as they like instead of using the trial version. People ... ...cyberlaw/archives/11_02_decoy.htm>, consulted on November 24, 2003. * The Massachusetts Daily Collegian (2003). â€Å"Today: the solution to music piracy surfaces†. Online at: , consulted on November 24, 2003. * GameSpy Industries (2003). â€Å"Software Piracy Report: Part 1†. Online at: , consulted on November 10, 2003. * CCIPS (2003). â€Å"Computer Crime and Intellectual Property Section (CCIPS): Protecting Intellectual Property Rights: Copyrights, Trademarks and Trade Secrets†. Online at: , consulted on November 10, 2003. * CNN.com (2003). â€Å"Napster shutdown seen as potential boon for competitors†. Online at: , consulted on November 20, 2003.

Jeffrey Dahmer :: essays research papers

Jeffrey Dahmer was born May 21st, 1960, the first child for Lionel and Joyce Dahmer, after a difficult pregnancy that had Joyce on various prescription drugs. Jeff and his little brother David were raised in Bath Township, Ohio. Unlike many other killers, Jeffreys parents were not abusive. Joyce had some relatively mild psychological problems, but Lionel tried to be as loving a father as possible, struggling to reach his quiet and isolated son. As a small child, Jeff seemed happy enough, playing with his dog or riding his bike, but was fascinated with death. When Lionel removed some animal bones from under the porch, the remains of small creatures killed by small local predators, Jeff seemed quite pleased by the sound they made dropping back into the bucket. His father dismissed it as childhood curiosity. Jeff was the class clown, known for doing things as ridiculous as faking seizures for laughs. In fact, he was lonely and isolated in school, with few friends. By high school, he was a full-blown alcoholic, drinking before, after, and even during class. When his parents divorced, his father was the one to move out of the house. When Jeff was 18, Joyce took David and left. Jeffrey was alone in the house with little food and a broken refrigerator until his father and his new wife found out about the situation and moved into the house. Trying to help his son, Lionel assisted Jeffrey get into the University of Ohio. But it was already too lateJeff Dahmer made his first killing at age 17, when he picked up a hitchhiker , brought him home, murdered him, and scattered the bone fragments in the woods behind the Dahmer home. When Jeff flunked out of college, a desperate Lionel took him to enlist in the army. The ever docile Jeffrey went along with his fathers wishes as if he had no opinion of his own. Alcohol got the young Dahmer discharged from the army while he was stationed in Germany. He went to Florida, and tried to get a job. When his money ran out, and he had nothing to fall back on, Jeff called his father. Jeffrey was told that, no, he couldnt have any money, but he could have a plane ticket home. Jeffrey was sent to Wisconsin to stay with his grandmother. Things went well for a while, until Lionel got a call from his mother reporting a strange smell coming from the garage. Jeffrey Dahmer :: essays research papers Jeffrey Dahmer was born May 21st, 1960, the first child for Lionel and Joyce Dahmer, after a difficult pregnancy that had Joyce on various prescription drugs. Jeff and his little brother David were raised in Bath Township, Ohio. Unlike many other killers, Jeffreys parents were not abusive. Joyce had some relatively mild psychological problems, but Lionel tried to be as loving a father as possible, struggling to reach his quiet and isolated son. As a small child, Jeff seemed happy enough, playing with his dog or riding his bike, but was fascinated with death. When Lionel removed some animal bones from under the porch, the remains of small creatures killed by small local predators, Jeff seemed quite pleased by the sound they made dropping back into the bucket. His father dismissed it as childhood curiosity. Jeff was the class clown, known for doing things as ridiculous as faking seizures for laughs. In fact, he was lonely and isolated in school, with few friends. By high school, he was a full-blown alcoholic, drinking before, after, and even during class. When his parents divorced, his father was the one to move out of the house. When Jeff was 18, Joyce took David and left. Jeffrey was alone in the house with little food and a broken refrigerator until his father and his new wife found out about the situation and moved into the house. Trying to help his son, Lionel assisted Jeffrey get into the University of Ohio. But it was already too lateJeff Dahmer made his first killing at age 17, when he picked up a hitchhiker , brought him home, murdered him, and scattered the bone fragments in the woods behind the Dahmer home. When Jeff flunked out of college, a desperate Lionel took him to enlist in the army. The ever docile Jeffrey went along with his fathers wishes as if he had no opinion of his own. Alcohol got the young Dahmer discharged from the army while he was stationed in Germany. He went to Florida, and tried to get a job. When his money ran out, and he had nothing to fall back on, Jeff called his father. Jeffrey was told that, no, he couldnt have any money, but he could have a plane ticket home. Jeffrey was sent to Wisconsin to stay with his grandmother. Things went well for a while, until Lionel got a call from his mother reporting a strange smell coming from the garage.