Saturday, August 31, 2019
Analyzing a Literacy Event
At any moment, your life can change. In any instant you could find yourself walking down a different path than you started down. You would never know it, but the simplest form of literacy could make the world of difference in your life. Writing, believe it or not, is a constant in your everyday life. Whether making a grocery list, composing an email, or simply doing your homework, there is no escape from writing. In my case, however, writing came to be my only salvation for justice.On a seemingly normal, stress-free, fall day, I found myself walking through The Village of Rochester Hills. It goes without saying that writing was one of the last things on my mind as I was shopping. However, as things seem to do, my priorities were about to drastically change. As I was attacked by three teenage boys, my world began to spin. I was knocked out by one single blow to the side of my face. As I opened my eyes I saw the boys leaving me on the pavement of the parking lot. After a moment, I real ized that my purse and all of my belongings had been taken.There and then was when I realized how important writing can really be. I instantly ran into the closest store and began writing down all I could recall about the incident. Filling the paper with descriptions of the boysââ¬â¢ clothes, hair, faces, the van they left in, and even their voices, I wracked my brain for all the information I had. Eventually, the Oakland County Sherriff came to the scene of the crime. Within the time it had taken them to reach me, I had already begun to go into a form of shock, causing me to forget details and important factors of the incident.My small gesture of literacy had been the key to finding justice in this situation. After the police had calmed down and taken me to the station, my next writing adventure began. It might not be obvious, but filling out police reports and giving detailed descriptions to a sketch artist involves many literary techniques. I can honestly say my encounter with writing was the most meticulous, painstaking, in depth paper I have ever written. Needless to say, my literary work provoked many reactions. After reading the entire report, most were angry: Angry that this sort of situation could happen to anyone.Some were sympathetic, offering hopes of catching the three boys with the help of my descriptions. I, on the other hand, read through my report over and over again, feeling worse and worse about the situation. Days later, the police were able to link my case with three others. The three other girls who had been put in similar situations, however, were unable to give as much detail as I was. In a sense, my ability to understand the grave importance of writing was able to help three complete strangers come closer to catching the three boys who stole their feeling of safety and self confidence.For as little as the average person considers literacy to be a part of their lives, I have personally found it to be one of lifeââ¬â¢s most valuabl e privileges. A single act of writing led me closer to a sense of justice and closure in a moment between shock and sanity. This encounter with writing has changed my outlook on many things. The most important, however, is that I feel grateful for all the teachers that have taught me how to write because without them, I may not have been able to rise above the situation.
Principles of Learning David Robertson
As the Course Lecturer for the Automotive Department at Newcastle College it is my duty, and end, to guarantee that the basic underpinning cognition ( both practical and theoretical ) of Motor Vehicle Engineering is delivered to the pupils of the section so they may fix, either for City and Guilds scrutiny, or employment in a local motor vehicle constitution. Many weighty volumes have been penned with respect to the annoyed inquiry of Learning Theories in instruction, their supposed benefits, and their effects upon larning and whether they exist as separate entities at all. However, before any decisions can be arrived at, an apprehension of the assorted theories, their chief supporters and their consequence upon larning will necessitate to be grasped. After a casual probe into the single theory I will follow up with my ideas as to the deductions in relation to my peculiar country of instruction. Prior to this analysis it is necessary to supply an overview of the acquisition manners presently used in the field of Education These manners fall into three groups: A/ Cognitive- In the Cognitive manner pupils gain theoretical cognition through the airing of information normally in a category based environment. This is extremely relevant to drive vehicle technology as the topic is inherently complex. B/ Psychomotor- In the Psychomotor manner pupils are required to show a scope of practical workshop based accomplishments. This is critical in that the topic is one that demands a grade of manual sleight. C/ Affective- In the Affective manner pupils learn how to carry on themselves perform and follow the right attitude in a workshop environment. This is merely a instance of endurance ; a workshop is a potentially unsafe topographic point to be in. All of the above manners are, to changing grades and dependent upon the lesson in inquiry, employed in the theories listed below. Learning theories, or rules of acquisition, have been developed ( sometimes over decennaries ) and honed to better the instructors apprehension of the procedure of pupil acquisition. Therefore, instructors require an apprehension of these rules, which highlight countries where pupils are most likely to associate to, and so learn from. These rules include the Fieldss of:CognitivismBehaviorismHumanitarianismGestaltSocial LearningWe as instructors, sometimes without cognizing it, be given to accommodate our manner of bringing to suit these rules subconsciously. However, with an apprehension of these rules combined with a background cognition of the pupils themselves, such rules, as listed above, could good better the manner in which a lesson is delivered, and so, accordingly, better the acquisition of the pupils.CognitivismThe group of educationists, known jointly as the Cognitivists, among whom are the noteworthy figures of Jean Piaget, Jerome Bruner and Lev Vygotsky topographic point major accent on the pupils themselves and how they get, and mentally organize, the cognition they gain, in consequence how they ââ¬Å" know â⬠the universe around them. The over all procedure is a complex system of unseeable mental activities working together to bring forth a nett addition in understanding. Basically, it is about thought, deriving cognition, retrieving and concluding. Pioneering work in the field of cognitive development was chiefly done with kids in an effort to understand how they learn, so cognitive development can be viewed as the growing of logical thought over clip ( state as the kid matures ) and with due mention to the scholars environment from childhood to adulthood. Professor J.Bruner termed this as a signifier of ââ¬Å" scaffolding â⬠, whereby an grownup would bit by bit take the support built up around the kid ( or older scholar ) as they become more able to understand, or maestro, a peculiar undertaking. The Russian Marxist Philosopher Lev Vygotsky nevertheless ( working in pre WWII Russia ) , given he is in the Cognitivist cantonment, did non utilize the staging theory at all, alternatively he developed a parallel theory called The Zone of Proximal Development in which the scholar is at the Centre of a group of homocentric circles, with what is already known at the Centre and what is to be learned radiating out in rings. The overall construct is that the scholar, with aid from either older kids or grownups, moves ( via direction ) from the interior countries to the outer thereby deriving cognition and proficiency. This is reinforced by Reece & A ; Walker who province ââ¬Å" Students do non simply receive information, but actively make a form of what it means to them â⬠. ( Reece & A ; Walker 2003 p86 ) In the Cognitive attack to instruction, cognition is viewed as symbolic and as the overall consequence of larning while larning itself occurs through the repeat of a peculiar undertaking. The pupil is encouraged and motivated to experiment, from which they will hopefully deduce a sense of accomplishment. With mention to my learning the Cognitive attack is clearly apparent, and so it lends itself ideally to the country as job resolution and experimentation ( for illustration reiterating a undertaking until proficient ) is a major tool in the assessment procedure of my scholars. An illustration of this is when a peculiar pupil listens to my verbal bringing, so understands the construct and eventually remembers the solution to a job ; besides if they can hold on the logical thinking behind the job so they will hold fulfilled all four standards for cognitive acquisition. They can so come on and utilize this maintained cognition to work out other, more complex, Motor Vehicle Engineering inquiries. The of import thing to retrieve is that my scholars are non inactive in this state of affairs, but originative in footings of what the instruction and acquisition agencies to them, they are active participants in the acquisition procedure, utilizing their cognitive accomplishments to understand a fresh state of affairs.BehaviorismAs Curzon ( 1997 p36 ) states ââ¬Å" Behaviourism arose as a reaction to larning being interpreted as mere mental operation â⬠. The Behaviourist attack to acquisition is based on a chiefly nineteenth century construct that following a scientific attack to the survey of human existences, and their responses to outside stimulations, may good supply an penetration into how people learn. It was to a great extent influenced by animate being experiments ( a front-runner of many behaviorists ) which demonstrated the consequence on encephalon forms of controlled conditions and stimulation ; it was further argued that this could be carried over to worlds. The Russian Physicist Pavlov ( 1849-1936 ) is best known for his experiments with Canis familiariss. Basically, he linked a specific sound with the proviso of nutrient which caused the Canis familiaris to salivate. After some clip he discovered that the mere sound would do the Canis familiaris to salivate, so reenforcing the theory that a stimulation based response was taking topographic point in the Canis familiaris. However when this was carried over to conditional human responses the ability of worlds to utilize linguistic communication to pass on ââ¬Å" muddied the Waterss â⬠slightly as this accomplishment interfered with pure inherent aptitudes based responses. He concluded that worlds have fewer inherent aptitudes than animate beings ( or instead the 1s we had have been eroded by development ) hence human behavior is governed by conditional responses. He besides believed that mental phenomenon could be dealt with objectively and scientifically when it is seen as discernible and mensurable behavior. John B Watson was another chief advocate of the Behaviourist school of idea in relation to human acquisition. He thought that behavior could be modified through the actions of assorted stimulations upon the individual and that, as a effect, the person in inquiry could be ââ¬Å" conditioned â⬠through these stimulations to bring on a alteration in behavior so prima to larning taking topographic point. In my instruction I use the procedure of giving feedback as a signifier of encouragement, and sometimes dispute, whether it is in the signifier of verbal congratulations, following a direct inquiry aimed at a peculiar pupil or in a written mode after measuring an assignment. I have found that positive feedback from me will take to better future work, and an increased degree of assurance, from the pupil. So in this manner a stimulations based response system is productive in my field. Positive feedback is an about guaranteed manner of bring oning larning in a pupil but this has to be tempered by the times when I have to be critical of the work of a pupil, it is a equilibrating act, on my portion, to happen the right degree of stimulations ( feedback ) to promote a pupil without detering them by being excessively critical. Sometimes a critical feedback study from me is designed, and worded, to advance a response in the peculiar pupil as if I am throwing down a challenge to them to better.HumanitarianismThe Humanist acquisition rule, or Humanism, grew out of a sense of dissatisfaction with other larning theories, particularly Behaviourism. The humanistic Psychologist Abraham Maslow ( 1890-1970 ) believed a scholar ââ¬Ës physiological demands, safety demands and the sense of belonging to a group had to be fulfilled before the motive to larn was realised, and his now celebrated ââ¬ËHierarchy of Needs ââ¬Ë pyramid high spots this in item, runing, as it does, from the basic demands of nutrient and shelter at the base up to self-actualisation at the vertex. Maslow confirmed this, as quoted by Curzon ( 1997 p121 ) who states that ââ¬Å" instruction has the undertaking of assisting each individual to go the best that he is able to go â⬠. Among his beliefs were that scientific psychological science was inherently unfertile and dehumanising, he argued that people should be viewed as whole human existences and that the function of the instructor was to assist, rede and steer the pupil towards understanding. The basic needs nevertheless ( at the base of the pyramid ) are chiefly issues beyond the instructors ââ¬Ë control. However, Kyriacou ( 1998 p72 ) states ââ¬Å" the increasing consciousness of the importance of furthering students ââ¬Ë ego regard has been a major development over the old ages â⬠. This holistic attack to instruction pioneered by Maslow was shared by Carl Rogers who proposed that larning should be student find led. Building upon the consensus that pupils retain about 5 % of instruction delivered strictly by talk and that they retain a great trade more if the pupil finds out, or discovers, the information for themselves. Rogers called for the ââ¬Å" humanization of the schoolroom â⬠in order to make the ideal environment for acquisition. In relation to my learning the humanistic attack to acquisition has the undermentioned deductions: The demand to put the room environment in a mode contributing to larning ( so at least trying to carry through Maslow ââ¬Ës most basic demands ) for illustration warming, illuming and chair agreement to name but three is non ever possible for logistical grounds. I need to move as a facilitator, or conduit, through which pupil acquisition can happen. In other words become a resource for the pupils to use and work. There is a demand to integrate my ain experiences of the topic into the lesson bringing, but some of my ââ¬Å" narratives â⬠loose something in the relation. All the clip non burying that I am the instructor and the pupils are at College to larn through my direction so at that place will necessarily be a certain grade of farness on my portion even if merely for the fact that I can ne'er be a portion of the group wholly, there is, and has to be, a limit line between instructor and pupil. For this ground entirely ( if no other ) the Humanism theory of instruction is one that I do non favor in its classical complete sense. However parts of it I can, and do, utilize for illustration I find it benefits most groups if I adopt the ââ¬Å" older brother â⬠ethos on occasion instead than ever portraying the distant instructor.GestaltGestalt ( from the German for structured form ) is the school of educational thought concerned with following an overall position to acquisition, in other words the whole is greater than the amount of the single parts. Gestaltists believe that understanding demands consciousness, on the portion of the pupil, of th e relationship between assorted facts and how they interrelate to bring forth an overall image. Previous experiences in the life of the scholar will assist to lend to the procedure of apprehension, but the existent procedure of thought is more of import than mere callback. Understanding, harmonizing to Gestaltists, is based upon a procedure known as Insight. Insight is non a lucky conjecture, arrived at by mere opportunity, but is when a pupil all of a sudden becomes cognizant of the solution to a job ; the ââ¬Å" light bulb above the caput â⬠or the ââ¬Å" penny dropping â⬠seems to sum up the state of affairs absolutely. Something that, on the surface, is an bete noire to repetitive or rote acquisition. It is fundamentally the gaining, or acquisition, and keeping of penetration, by the pupil, that is at the bosom of the theory of Gestalt. Besides the choice and retrieval of information is indispensable if other, new constructions of perceptual experience are to be created. The thought is that the instructor must construction larning during the lesson so that scholars reach an overview, detect inter-relationships, and can therefore pattern independent productive thought. In the world of my mundane learning the whole construct of leting the pupil to come across the correct reply by penetration is to state the least impractical. Faced with a group of Motor Vehicle pupils fighting to hold on the complexnesss of the internals of a auto engine and stating to them that the reply will come if merely they had insight is unusually brave of any teacher Lashkar-e-Taiba alone me. This may good work on a one to one footing when I, the instructor, have the clip to give but with a big category, of changing ability, it is a non-starter in footings of a instruction scheme.Social LearningBesides known as the Social Cognitive Theory, this peculiar field of involvement narrows in on how people learn in a societal context or, in other words, the procedure whereby people gain cognition through societal interaction either by talking to, detecting, or following the illustration of another individual, or group of people, in a societal ( or vocational ) scene. An illustration of Social Learning ( that most people will hold undergone ) is when a new employee is inducted into the ethos of their new employer. The innovators of Social Learning Theory ( among whom are the honored figures of A. Bandura, J. Lave and E. Wenger ) propose that the group state of affairs is ideal for breeding larning via the persons in that group working together to accomplish a common end. Inevitably, in any group, there will be a broad assortment of anterior acquisition or experience but it is this really diverseness that is the strength of this peculiar theory. Because a diverse scope of people are ââ¬Å" thrown â⬠together in a group state of affairs this requires them to speak, interact, communicate & A ; acquire involved in the job in inquiry hopefully taking to a solution to the job and bring oning a alteration in behavior ( larning ) in the persons. Because the group have a inquiry to reply this is the foundation upon which duologue is built and, as Lindeman ( 1926 p86 ) says: ââ¬Å" Active engagement in interesting personal businesss furnishes proper stimulations for rational growing â⬠. In my instruction I use the Social Learning attack rather frequently. I find that a group work state of affairs will normally be more productive in footings of retained larning than a talk based bringing manner. I see myself as more of a ââ¬Ëfacilitator ââ¬Ë than a ââ¬Ëteacher ââ¬Ë in these Sessionss, by steering the pupils towards accomplishing larning by their ain, co-operative, attempts. I simply lay the foundations for the session by presenting certain inquiries and so ââ¬Ëtaking a spot of a back place ââ¬Ë as it were, all the clip monitoring advancement. At the terminal of the allowed clip for the exercising I will draw together the ideas from the disparate groups hopefully reenforcing the acquisition that has taken topographic point and rounding up any accomplishment in the session. Of the instruction theories illustrated above I have found that I personally favour the Cognitivist attack ; it has good deductions for my instruction, it lends itself ideally to the instruction of Engineering although the other theories are, to changing grades, helpful ( except Gestalt ) depending upon the peculiar acquisition activity in inquiry. Understanding the assorted larning theories can be utile, if non indispensable, in integrating different learning methods into the lessons. I recognise that over clip I teach, and deliver in, all of the larning countries nevertheless, concentrating on the most appropriate country ( and pupil larning manner ) should assist to better the success of my instruction.
Friday, August 30, 2019
Excerpt “On Nonconformity” from Shape of Content by Ben Shahn
ââ¬Å"Nonconformity is the basic pre-condition of art, as it is the pre-condition of good thinking and therefore of growth and greatness in a peopleâ⬠¦conformity is derived from the wholly venal business of catering to a popular marketâ⬠(The Shape of Content, Ben Shahn). This piece of writing speaks of how the general public is in love with works of art, yet at the same time loathes the artists that created them, merely for being a little different than the norm. If art was about ââ¬Å"cookie-cutterâ⬠design, then according to the eading, we should all be living in a place similar to Soviet Russia. Yes, it is extremely important to lift up and honor the Working Man, but it is wrong to tear apart art movements due to government, religion, sex, race, creed and so on. Art is something which comes from the soul and nonconformity helps to rip these few individualists away from the so-called commoners. Nonconformists explain reality in a way in which is hardly ever describ ed properly. Truthfully.Why over so many years in history were nonconformists persecuted? Did the witch burning public run out of actual threats like invasion from a foreign country or the economy, or health care? Still the artist (nonconformist) pushes forward and creates despite the enterprise of trials and tribunals. A favored line was about a modern day politician that tried to have a design on a boat sail made illegal, yet it turned out to be a legal design created and copyrighted for the Los Angeles Yacht Club.
Thursday, August 29, 2019
Lakes in Kenya Research Paper Example | Topics and Well Written Essays - 1000 words
Lakes in Kenya - Research Paper Example Indeed lakes are important geographical features that are formed through certain processes. A lake is defined by Chave (2001) as a body of inland standing water while oxford dictionaries (2013) defines them as huge masses of water surrounded by dry land. Kenya is a country in Africa that that has several lakes and they are Baringo, Bogoria, Chala, Chew Bahir, Elementaita, Jipe, Kamnarock, Logipi, Magadi, Naivasha, Nakuru, Turkana and Victoria. This paper is going to look at three lakes in Kenya which are Lake Bogoria, Lake Nakuru and Lake Victoria, their formation, properties, and their economic benefits. Lakes can either be natural or artificial and Chave (2001) says that natural lakes are a result of natural processes while artificial lakes are constructed by man for various purposes such as hydropower generation. The lakes discussed here are natural lakes which have an ecosystem. Lake Bogoria This is a lake in the Great Rift Valley in Kenya and is amongst what some are calling Rif t Valley lakes. These lakes are small, shallow and occupy slightly sloping depressions on the Rift Valley floor (Crafter, 1992). The lake has a length of 21.13 miles and a width of 2.175 it lays north of the equator and it is an alkaline lake. The lake is a tourist attraction site because of its soda water that attracts flamingoes. Another major tourist attraction in Lake Bogoria is the hot water geyser, and steams that are bubbling hot. Geysers are violent gushes of water from under the surface and can get to a height of between 30-60 metres. These geysers are a result of hydrological activities underground. In areas experiencing volcanic activity, water may be heated underground and through fissures get to the surface in form of jets of hot water (McLeish, 1992).It is common sight to see visitors boil eggs in the hot water. Apart from flamingoes there are fish eagles. There are also other wild animals such as gazelles, Kudu, Zebra and Baboons (Magicalkenya .com 2013). Lake Baringo -hot springs (courtesy of Kenyaphotos.wordpress.com) Lake Nakuru This lake which is 1754 m above sea level is found on the Rift Valley and it very popular with tourists to Kenya because of the large of flamingoes it hosts. The lake is in Nakuru County and it is within Lake Nakuru national park. According to magicalkenya.com this is also a soda lake which is alkaline. An alkaline lake is that whose water has a ph of 7 and above. Therefore certain animal and plant species thrive in them while others do not. Living within the park are wild animals such as both black and white rhinos, warthogs, waterbuck, zebra, buffalo and the endangered Rothschild giraffe amongst others. The lake resulted from tensional forces on rocks leading to formation of normal faults secondary faulting followed leading to more subsidence and formation of a hollow that is filled with water (Opati, 2007). This process is characteristic of other rift valley lakes. The park is a source of revenue for the Nakuru Coun ty and a source of employment to many residents. Lake Nakuru if fed by only one river known as river Njoro (inlet) and it does not have an outlet and this is the reason as to why it does not have fish. Lake Nakuru (Picture courtesy of tripadvisor.com) Lake Victoria This is a huge lake whose size is 67,493 sq kms and it is shared by three countries which are Kenya, Uganda and Tanzania. According to WorldAtlas (2013), Lake Victoria is the largest lake in Africa and the largest tropical lake in the world. Importantly, it is the second largest fresh water lake in the world after Lake Superior in America.Its water flows down the Nile River into Egypt. It was the explorer John Hanning Speke who discovered Lake Victoria as the source of river Nile. McClanahan (1996) says
Wednesday, August 28, 2019
Diet Essay Example | Topics and Well Written Essays - 2000 words - 1
Diet - Essay Example They rapidly and furiously increase insulin and blood sugar which could spike hunger in the short term leading to overeating. In the long term, this could lead to increased risk of heart disease, diabetes and weight gain. For example, increased consumption of French fries, potato chips and potatoes, refined grains and sugary drinks causes weight gain of about 3.4, 1.3, 0.6 and 1.0 pounds over a span of four years respectively (Roth, 2011). Minimal intake of such foods reduces weight gain. Whole grains such as brown rice, barley and wheat among others get digested slowly compared to refined grains. As such, they have a gentle effect on insulin and blood sugar, helping to keep hunger at bay. This holds for a majority of fruits and vegetables. Studies by the HSPH shows that over 20 years, the studied samples subjected to this kind of diet recorded minimal weight increments of ââ¬Å"-0.4, 0.5, and 0.2 pounds less every four years, respectivelyâ⬠(2013). According to Roth (2011), in creasing the intake of these foods leads to reduced intake of the other foods, thus cutting on calories. The fiber in these foods has weight control benefits because of the effect of fiber in slowing down digestion, hence curbing hunger. Additionally, fruits and vegetables have high water content helping people fill up on few calories. As such, I have been a supporter of maximal consumption of vegetables and fruits to maintain proper body weight and form. Not only has the water that fills one fast and nourishes the skin been my argument for this but also because of the belief in the many forms of vitamins in these food sources that help keep diseases away. However, Robinson (2013) calls for revision of such myths. According to this scholar, the right varieties of... This paper approves that poor diets, especially those made up of sugary drinks and refined grains, largely contribute to weight gain and promote chronic diseases. One of the major effects of poor dietary considerations is obesity. Those children in poor countries suffer from obesity due to ââ¬Å"exposure to Westernized diets coinciding with a history of undernutritionsâ⬠. The world food economy has largely contributed to a shift in dietary patterns, for instance, promoting consumption of diets rich in energy and fat, specifically the saturated fat and diets low in unrefined carbohydrates. Combining such diets with declined energy expenditure due to sedentary lifestyle ââ¬â domestic labor-saving devices, motorized transport and physically undemanding leisure among others ââ¬â increases the chances of one being obese. From this essay, it is clear that healthy diets play an important role in preventing chronic diseases and weight gain. It has equipped me with additional information on the importance of having a proper diet for a healthy life. The general recommended dietary requirement calls for higher proteins but lower carbohydrates intake. Contrary to my previous belief that processed foods contain lower carbohydrates, this research has made me appreciate that whole foods or minimally processed foods such as whole grains, plant oils, fruits, nuts and vegetables provide a healthier source of nutrients. They are digested slowly and thus reduce food intake. Sugared beverages, red and processed meats, potatoes and highly processed foods like fast foods should be minimized as they have a similar effect as processed grains.
Tuesday, August 27, 2019
Case Study 1 (Stage 1) Example | Topics and Well Written Essays - 750 words
1 (Stage 1) - Case Study Example Enterprise Resource Planning systems entail packages which use interpersonal technological database in integrating numerous units of information in an organization. (Hachani,n.d.). ERP systems are recognized as softwareââ¬â¢s that deliver modules which are isolated but integrated. This is easily connected and mounted through packages for various organizations. It is evident that majority of companies use separate and different information systems since they merge with different companies which have acquired varied systems. The main reason as to why the BP Company can develop ERP systems is because they are fond of integrating distinct information systems hence resulting to enhanced data reliability and processing productivity. In the past ERP systems were only associated with big companies which wanted to integrate their businesses but currently even the micro companies have emerged to use the systems. The popularity of ERP systems and its outstanding success owes to its ability to advance customer service, simplification of business transactions and elimination of work that has little value. Research indicates that other information systems have been rendered obsolete and outdated since the introduction of ERP systems. The main challenge to having an ERP system installed in our company is the cost which is roughly $100,000,000 so as to implement a larger ERP system to contain the organizationââ¬â¢s needs. Nevertheless, the system is significant and capable of providing benefits that would improve the quality of information thus creating way for good management decisions at the BP Company for ideal business operations. Grid computing is a collection of computers put together to form a particular task so as to achieve a common goal. Alternatively, grid computing is a system that applies the use of several computers to form a network to solve a problem which may
Monday, August 26, 2019
Advertising in the UK fastfood industry Dissertation
Advertising in the UK fastfood industry - Dissertation Example sh this aim, the study targets the following objectives: 3.1 To determine the status of fast food advertising in the UK, for the period 2003 to present (to include findings from the Hastings review and the study by the Food Standards Agency.) 3.2 To understand the cultural issues and considerations that surround fast food advertising 3.3 To draw insight as to how an understanding of cultural attributes may make the advertising of fast foods more effective and mutually beneficial for both consumers and business. 4. Statement of the research problem and sub-problems What are the cultural considerations that advertisers should take into account in promoting the fast food business in the UK? 4.1 What is the current status of fast food advertising in the UK? 4.2 With the ban imposed on advertising for children, what strategic shift in marketing should fast foods consider in targeting the adult market? 4.3 Based on the revised marketing strategy, what are the social norms, beliefs and atti tudes of adults that advertising must consider in pursuit of the new strategy? 5. Significance of the research topic The research topic is a timely and relevant issue in the United Kingdom, where in January 2007 a total ban was implemented by the Office of Communications (OFCOM) on the advertising of junk food and fast food to children. The new legislation was the result of the unrelenting campaign of parents and pressure groups, with the support of the British Medical Association, who were concerned about the worsening obesity problem besetting not only the UK but almost all developed nations. The ban covers all advertising of foods deemed to have particular appeal for children and youth under the age of sixteen. The advertising ban also comes at the end of an exhaustive three year... The research topic is a timely and relevant issue in the United Kingdom, where in January 2007 a total ban was implemented by the Office of Communications (OFCOM) on the advertising of junk food and fast food to children.Ã The new legislation was the result of the unrelenting campaign of parents and pressure groups, with the support of the British Medical Association, who were concerned about the worsening obesity problem besetting not only the UK but almost all developed nations.Ã The ban covers all advertising of foods deemed to have particular appeal for children and youth under the age of sixteen.Ã Ã The advertising ban also comes at the end of an exhaustive three year research on the effects of junk food and fast food advertising on the eating habits of children, mandated by the UK government for OFCOM to undertake.Ã Lobbyists from either side participated, including representatives from food manufacturers who worried about revenue deterioration.Ã At this point, health campaigners are pushing for a furtherance of the ban to include all advertising of junk and fast foods before the watershed of 9pm.Ã The move had made advertisers more creative, foregoing television advertising and resorting to social networking sites and mobile phones. (Fast Food Nation, 2011).Cultural aspects of advertising.Ã There is current debate about the relationship between advertising and the culture in which the advertising campaign is being launched.Ã Many are apparently of the opinion that advertising influences those segments.
Sunday, August 25, 2019
Critically study of Negotiation Skills 03071 Essay
Critically study of Negotiation Skills 03071 - Essay Example The study is going to provide critical evaluation of the negotiation process. Different theories of negotiation stated to cite that negotiation process is adopted among the almost each and every individual. Further, this study outlines the process of negotiation among the individuals, local authority, SME and society. Negotiation is mainly a collateral process of getting the concern of two or more parties. In general term, negotiation is the process of collective bargaining that promotes a process of transaction of anything between two or more parties. This process is promoting aim of welfare of both the parties, along with the requirements and expectation of parties associated with the negotiation process. On the other hand, it utilises common ground that empowers stake of both the parties. Moreover, it promotes the harmony among the parties regarding any settlement. In addition, negotiation is also made on the basis of the mutual concern that makes the resolution of any sort of conflict. Negotiation processes are proved to be one of the most important processes in the daily life of people and operations of any business (Barkemeyer and Figge, 2011). On the contrary, negotiation term is used in banking and financial sectors also. Negotiation in this type of industry refers to the acceptance of any sort of transaction or future buy and sells financial instruments. In addition, it is observed that financial instruments are mainly facing negotiation process in the trading terms. However, contracting segments are looking for making proper compensation of the client and involved parties. Contracts are adopting negotiation actions in terms of making proper bidding of transactions. However, negotiation will be increasing outcomes of contract policies. Negotiation is involved in the trading processes also. Mainly in the globalised era, organisations are making proper negotiation in terms of trading the different instruments and commodities
Saturday, August 24, 2019
The reality of the 1920s in the US Essay Example | Topics and Well Written Essays - 1000 words
The reality of the 1920s in the US - Essay Example Advances in communication also signified this decade, as the radio was invented leading to establishment of radio stations and commercial radio networks. Coupled with introduction of long distance telephones, this led to opening up of the rural areas.1 Prior to this boom, there was a dark period at peaking in 1919, in the labor market. This was initiated by a universal strike of the entire workforce in the completely steel industry in America and all workers in Seattle. This crippled the economy as thousands of workers and consumers were affected. Employers were faced with the challenge of remaining firm against demands from the workers as a warfare based on class threatened to come up. Moreover, just two years earlier, in Russia, there had been a Communist revolution and this made employers threaten violence upon workers if they refused to return to normalcy. Nevertheless, the situation was salvaged by Hubert Hoover, then Commerce Secretary, who was able to talk industrial leaders i nto voluntarily raising production and wages in order to restore the economy. It is crucial to note that the strikes moved the American government to react strongly against such radical movements, since the Communist Revolution still lingered in peopleââ¬â¢s minds causing a certain intrigue, this came to be recognized as the Red Scare phase.2 On the political front, the decade featured three presidents Woodrow Wilson, Warren Harding, Calvin Coolidge and Herbert Hoover. Its beginning was marked by elections that brought Harding into power with Coolidge as his running mate. World War 1 had just ended and people were rearing for a return to normalcy considering the labor problems, rise in immigration and racial strife that were rampant earlier on. The 1920s saw the final participation of U.S in the League of Nations, where President Wilson convened the Council as provided for in the Leagueââ¬â¢s Act that the first assembly be summoned by the President of the United States. Notabl y also, the 18th Amendment of the U.S Constitution came into effect prohibiting the making, selling and possessing of alcohol. In 1924, the National Origins Act came into effect, reducing the number of immigrants to U.S to 150,000 per year with the aim of the legislation being to let the more desirable immigrants from western and northern Europe, into America, in larger numbers (ââ¬Å"1920s Politicsâ⬠). In addition, of significance through this decade as well, is the Harlem Renaissance that was the flowering of the African American culture through creative arts. It emerged from Harlem, a district within New York but grew to include other areas, where the blacks attempted to create a different perspective of their race through literary, theatrical, visual arts and musical works. This awakened a certain consciousness that led to redefinition of the white stereotypes, and rising of civil rights movements aimed at affording blacks new socio-economic opportunities and uplift the ra ce while developing their pride. Avant-garde artists from Europe experimented with African art, further giving esteem to the African Americans. Initially referred to as the New Negro Movement, the Harlem Renaissance saw African Americans migrating from the South to the northern areas where things were more prosperous.3 Within 1920, in August, came the
Friday, August 23, 2019
Cashflow Essay Example | Topics and Well Written Essays - 250 words
Cashflow - Essay Example ons or contributing - in spite of the fact that this likewise happens as a consequence of gifts or blessings on account of individual fund (Deveau, 2015). Money outpourings result from costs or ventures. This remains constant for both business and individual money. The primary essential stride in keeping up a positive cash flow is putting a financial plan set up. One of the ways of controlling income is by getting ready and keeping up a capital forecast (Niven, 2013). Significantly, forecasting has key impact in deciding long haul financing needs. Credit control and obligation recuperation are imperative figures in great income administration. Attempts to pay in time mean suppliers will be more prone to arrange deals with solid clients (Deveau, 2015). Issue updates when an installment is late and after that pursuit up also create positive possibilities. There is a need for considering charging punishment enthusiasm for late plan how to manage non-payment (Niven, 2013). Entrepreneurs additionally need to give careful consideration to their receivable and payable cycles. Finally, pricing needs to bode well. Deveau, D. (2015). Planning ahead makes for stronger cash flow. Financialpost.com. Retrieved 12 June 2015, from
Thursday, August 22, 2019
Interview Essay Example | Topics and Well Written Essays - 1250 words
Interview - Essay Example People seeking legal advice from the lawyers will feel secure since civility was being portrayed by the lawyers (Robinson, 2004). What are the opportunities to exercise civility in your daily life, such as at work or at home? The way we treat each other is what matters to determine civility. Civility is accompanied first politeness, this is a manner in which carries himself in the occasion that he or she is seeking for assistance. For instance, assuming one is the receptionist, a client approaches him or her to seek for guidance on a certain issue. The first thing one should do is greeting the client making him or her feel that at home, the client may annoy in the sense that he or she may be abusive or nagging, but remember the receptionist should understand and maintain high levels of politeness thus sending a positive signal, and marketing the institution as one which deals with clients in a polite manner (Robinson, 2004). The other aspect of civility is etiquette, this applies in working environment and a in home set up. One should learn to apologize if he or she has wronged, the simple worlds of am sorry and I apologize may mean a lot in this situation. In the working environment etiquette may be inform of dressing, work ethics treating of clients and facial expression. The first issue will be all about dressing, it should reflect ones character in that being well groomed will show ones seriousness in dealing with matters in hand. Also about work ethics, one should know the set procedures, for instance gossiping while a client is waiting to be served is unacceptable. One should keep in mind that working hours are different from resting hours. The word civility is used by different organization so as to enhance client confident. the all issue of one being civil is a matter of public relation in that how you deal with clients in a more friendly and professional way. The last one is all about facial expressions in that ones look portrays ones character, a smil e may hide a lot, you may be having a rough day with you boss or disagreed with a college at work, this should remain in a matter of the company , if a client approaches you for assistance you should not portray what you have been through rather show high levels of professionalism . In a home set up civility is all about being apologetic and respecting each other. A family that is built on the grounds of civility is bound to last. Respect entails both the parents and the children in that it should be mutual. Issues arising and family disputes should be dealt with in a civil manner. This entails calling for a family meeting in which the matter in hand will be resolved. Matters to do with the adults, that is the parents should be dealt with in secrete rather than in front of the children (Robinson, 2004). If there is one thing that defines a person who is civil, what would it be? Respect is what defines a person who is civil. If at one learns to show respect in all aspect then civilit y will be a daily occurrence. This means that respecting ones duties, if one is assigned certain duties they should be performed heartedly. This will ensure one conducts him or her self performed according the laid down procedure which are laid on the basis of civility. Also if one respect the other person he should be polite to him which is an aspect in civility. I a family set up; respect ensures the family stays at bay. This is respect brushes out the issue of conflict and quarrels, the domestic
Problem of Brain Drain Essay Example for Free
Problem of Brain Drain Essay Good Morning maam, and Hello to my friends. let me tell about my topic, its the problem of brain drain. The stupidity by Albert Einstein can be related with my topic. Before starting, my friends, i want to know, how many of you want to go to US, Canada, UK, France, or any other developed country. And how many of you have made up mind to stay there if you could? Thats good you are aware about Human Capital Flight and most of you want to stay here and serve your country. But or, This was a obvious result. i can you tell why? This phenomenon is what called brain drain or human capital flight. Like you,à Every year 250,000 youth are reported to leave the country for various reasons. And of them around fifty per cent of the 1,000 that graduate in medicine in Nepal each year leave to work abroad ââ¬â permanently. They seek opportunities in its various manifestation ââ¬â higher living standards, employment, better income, education, a luring western lifestyle, stability and security. Like you said. The list shows everything our country is incapable of providing to the youth. Hence, it is not surprising, if i say, that 556 youth leave the country to go across the seas in a given day. How many of them return to their homeland? The inflow number is almost negligible. This is where the use of word brain drain comes. ââ¬Å"Brain drainâ⬠as defined by Britannica is departure of educated or professional people from one country, usually for better pay or living conditionsâ⬠. Because if it, Nepal is losing a significant proportion of its intellectuals. Also, that the country loses workers and the money it put into training them in college, and the money often put for the health and safety of citizen. Majority has migrated to USA, UK or Australia. Also, the skilled working youth have left for Gulf countries to do labour work. Qualified farmers have been vanished to the third world. Than what to do? Before that, i want to inform you that, developed country who are getting these people are benefited because of brain gain. Why US had land on mars? Here are some reason related to this topic: it has the worldââ¬â¢s most intelligent and creative minds collected from every corner. because best universities of the world are there in US due to which people go there for study and quality, and settle there. moreover the universities gives scholarship to attract the sharp and intellectual minds by which we all are easily attracted. Talents play important roles in helping a country develop. Different areas and nations have distinct policies to retain skilled workers due to the different national or regional situation. in African countries, the health systems have been severely affected by brain drain, so various measures have been suggested and tried to limit the migration of health workers to rich countries. In Kuwait, people have argued the country should cultivate a sense of security and hope among the elite to curb brain drain because people are not so confident of their countries future. China tries to create a normal and free atmosphere and mechanism that would help talents flourish. And in India, although suffering severe brain drain every year, the Indian government has not to adopted strict policies because they believe that the overseas talent will eventually contribute to the nation in the future. so lets all of us stay in our own motherland to serve here and make gold from it. i am sure i am staying in Nepal and help develop, grow and prosper my country.
Wednesday, August 21, 2019
Early Literacy and Numeracy Development
Early Literacy and Numeracy Development Describe the learning context The children aged five years old were matching, writing number symbols and copying number words (for those who can) from 1 to 10 as they created their number book with stamps. The children used stamps to quantify the numbers based on the number symbol reflected on each page. Five children sat around the table, getting ready for the activity. Child A began stamping number one on one page, followed by two, then three on subsequent pages. Child B also began stamping on the pages. Child A saw Child B who had more than 6 stamps on the number ââ¬Ë5ââ¬â¢ page told Child B. ââ¬Å"you are wrong, is number 5â⬠. Child B looked at me and I told Child B, ââ¬Å"itââ¬â¢s alright, letââ¬â¢s do it again.â⬠I asked Child B as I pointed to the number symbol ââ¬Å"What is the number?â⬠ââ¬Å"5â⬠replied Child B and Child B printed two stamps on the page. A while later, Child A has completed printing stamps on the number book and began copy writing of the number words. Child B then completed the stamping of number with my assistance. Child B mumbling counted it while printing the stamps reflected on the page. Then, Child B moved on to copy writing on the number symbols. When the children have completed, they had a sharing session on their number book. Analyse the learning for conceptual ideas I have explored in the readings Based on the above learning context, the analysis of the following numeracy and literacy ideas are observed. Sociocultural context has happened in this small group learning. Rogoffââ¬â¢s three foci of analysis ââ¬â personal, interpersonal and community provide a useful tool for analyzing young children. It emphasized how childrenââ¬â¢s thinking is incorporated with and constituted by the setting, collaboration, signs and cultural tools (Robbins, 2007). From the personal focus of analysis, we can observe how Child A transforms during the course of the activity, and how Child A collaborate and relate to others (interpersonal focus of analysis) in the setting (contextual focus of analysis). Vygotsky described Child Bââ¬â¢s muttering as ââ¬Ëprivate speechââ¬â¢. He appeared to be giving himself guidance and reassurance that his written answer was correct, showing a development in his cognitive thinking as he selected, matched and gave himself confidence (Ahmed, n.d.). Zone of Proximal Development (ZPD) describes the area between the childââ¬â¢s level of independent performance and what the child can do with support (Zone of Proximal Development and Scaffolding, n.d.). From the observation, Child A has reached her level of independence of understanding the quantifying of numbers and thus, she pointed out to Child Bââ¬â¢s correction that he had six stamps on the number page five. Children learn these number names by imitating adults and as they practice counting, they often say nonconventional sequences of number names (Reys, Lindquist, Lambdin, Smith, Rogers, Falle, Frid, Sandra Bennett, 2012). Children reflecting counting principles may show confusion when counting, however, with encouragement and opportunities to count, children will develop efficient counting strategies with any specific directions (Clements Sarama as cited in Reys et al., 2012). Child B is observed to face difficulties in counting beyond five, thus, with assistance and encouragement from the teacher, he was able to complete counting one to one correspondence up to ten. Child Aââ¬â¢s pointing of the number symbols to Child B assists in her recognition of symbols. Child A in this case is more knowledgeable other (MKO), who has a higher ability level than Child B, in creating the number book (McLeod, 2014). This is useful to Child B as he attempts to store knowledge and information making a connection of the symbol to the word. Eventually this knowledge will be stored as symbolic representation and classified under different categorizations, as proposed by Bruner (McLeod, 2008). Number symbols are essential prerequisites for children to move on to more sophisticated mathematical algorithms that include the use of symbols for relations, operations and punctuations. Children must make meaning of what they are learning so that they can understand the reasoning behind the operations (Sperry, 2009). However, understanding of mathematical concepts has to be built first to help children further their understanding and learning in abstract terms, such as symbols. As such, Child B is making meaning of the symbols and number words, connecting the two, constructing his own mental image and understanding and modifying his previous knowledge, after interaction with his peers, therefore creating a new schema (McGee Richgels, 2008). The speech of the children served different purposes, as described by Halliday (as cited in McGee Richgels, 2008). Child Aââ¬â¢s use of regulatory language attempted to control Child Bââ¬â¢s actions by highlighting his errors to communicate information by guiding and giving the correct information to Child B. Literacy practices are important to everyday lives of children and it does not take place in isolation to other social practices and interactions with adults and peers (Makin, Diaz McLachlan, 2007). Conceptualisations about literacy must take account of the social practices which include listening speaking, writing, viewing and critiquing (Makin et al., 2007). From the observations the children were engaged in speaking, listening to others, as well as writing of the numbers symbols and words. According to Vygotsky, he emphasized that learning occurs through social interaction and he viewed that language is an important tool for communicating with the world (McLeod, 2014). Through the interaction between the children and the teacher, the children developed number sense and picked up literacy skills. Lesson Plan ââ¬â Enhancing this learning situation with a new literacy and a new numeracy outcome in the same lesson plan Lesson plan for the five years old Literacy Objectives The children will be able to: Use words in the proper sentence structure Write number symbols Copy writing or spell out three letter word such as ââ¬Ëtenââ¬â¢. Response to questions and answer appropriately Numeracy Objectives The children will be able to: Use one to one correspondence Counting in sequence from 1 10 Compare long, short and same using the childrenââ¬â¢s names and more or less. Answer questions to demonstrate an understanding of How many objects up to 10. Social Objectives The children will be able to: To be able to build up their self-confidence by giving them opportunities to present in front of the class individually or in groups. To be open-minded and be receptive to suggestions Introduction Introduce the counting number book titled Ten Black Dots by Donald Crews to the children. Read the story to the children. Teacher to give out strips of paper with the childrenââ¬â¢s name written on it. Using the cooperative learning strategy, round table, each chair is labelled from one to ten and children will go to the number after they counted the letters on their names. Teacher will have a discussion on whose names are long, short or they are the same. Main Activity Read the story to the children again. This time, teacher will demonstrate the story by stopping with each picture and counting the black dots. Teacher to ask questions such as, ââ¬Å"How many dots do you need to make the eyes on a fox? In a large group, teacher to ask questions and have them to demonstrate on the board. For example, teacher will have a picture card with two missing dots on the eyes of a dog and five missing dots on the balloons. Encourage the children to come forward to complete the pictures. Then, have the children to respond by asking, ââ¬Å"Which one has more dots? How do you know?â⬠Then, children to take turns to paste the correct number symbol to the number of dots on the board. Teacher to encourage the children to come out with creative ideas how on the dots can turn into based on the number of dots given. A book with five pages, including the cover and back of the book will be provided for children Then, in pairs, children to create their very own story about the 10 black dots. Using their creativity, they will design their cover page with the title and their name on the front. Children will use black dot stickers to make their own story through drawing and they will write their story line on each page. For example, ââ¬Å"1 one dot can make a clock.â⬠They will have to through the numbers in sequence. For those children who are still developing writing skills, they are encouraged to write the number words and symbols. Closure Once completed, using round robin, children will take turns to read their story to the class. At the same time, their peers will share their thoughts about their friendââ¬â¢s story on how they feel about it and the teacher will record the responses in LEA. This forms part of their peer assessment. The teacher will then document the responses and leave the childrenââ¬â¢s story at the learning area for children to revisit their work. Discussion with numerous links to the readings to justify the literacy and numeracy content in your lesson plan In the lesson plan, cooperative learning strategy is used as to get the children create interest in learning. Cooperative learning strategy does benefit the young children as it encourages group processes, foster social and academic interactions among peers and rewards successful group participation (Lyman Foyle, 1988). Linking back to Rogoffââ¬â¢s three focus of analysis, the cooperative learning strategy helps the child to move from being aware of him or herself to becoming aware of other children. In one of the research findings, it had shown that cooperative learning activities do improve childrenââ¬â¢s relationship with peers, especially from different culture. When children begin to work on task, cooperation can open up opportunities for sharing ideas, learning how others think and react to problems and practising oral language skills in small groups (Lyman Foyle, 1988). It also promotes learning dispositions and positive feelings towards school, teachers and peers. Joh n Dewey also believed that children learn best for highlighting the positive social value of education and the importance of educators where educators listened to the children then facilitate them through activities (Hill, 2012). Based on the lesson plan, a story book is used to enhance the learning situation with a new numeracy and literacy outcome. Early childhood educators have been increasingly recognized the potential of using storybooks and picture books to introduce mathematics learning for children even though the children may not immediately relate it with math concepts and ideas (Flevares Schiff, 2014). Taking in from Vygotskyââ¬â¢s sociocultural perspective, some books have created a space for interaction and sharing or ideas presented by or analysed through the illustrations and text Flevares Schiff, 2014). Bringing in shared literature mathematics engages and socializes children into literacy aspect of shared reading and learning and the books can also be a springboard to address math concepts both at school and at home Flevares Schiff, 2014). In the lesson plan, children not only learn about numbers, they also learned to identify high frequency words, number words as they read and as well as practicing their writing skills. van den Heuvel-Panhuize and Elia (2012) have furthered explained that childrenââ¬â¢s books have an important role in teaching mathematics as the authors either refer to childrenââ¬â¢s books as a learning setting in which children can come across mathematics or as a tool that enhances to the learning of mathematics. In another study, it supports the idea that reading picture books to children has a lot of potential for mathematical ideas to children even without any prompting or any instructions (van den Heuvel-Panhuizen, van den Boogaard, Doig, 2009). With reference to the lesson plan above, the storybook sets as a basis to introducing one to one correspondence, number sequencing and as well as reading and listening skills. Howard Gardner appealed multiple intelligences are used concurrently and it balance each other as individuals developed skills (Brualdi, 1996). In the lesson plan, several intelligences are observed: Mathematical intelligence is seen where children used their logical thinking skills to work on number sequencing and one to one correspondence; Linguistic intelligence is used when children practice their speaking skills during the sharing session, writing their story, number words and symbol. Interpersonal intelligence is observed as the children work together, giving ideas objectively, creating their story and as well as intrapersonal skill where children build up their confidence level and speaking skills during their sharing session. References Ahmed, M. K. (n.d.). Private speech: A cognitive tool in verbal communication. Retrieved 1 March 2012 from http://www.iuj.ac.jp/faculty/mkahmed/privatespeech.html Brualdi, A. C. (1996). Multiple intelligences: Gardners theory. ERIC Digest. Flevares, L. M., Schiff, J. R. (2014). Learning mathematics in two dimensions: a review and look ahead at teaching and learning early childhood mathematics with childrenââ¬â¢s literature. Frontiers in psychology, 5. Hill, Susan. (2012). Developing early literacy: assessment and teaching (2nd ed). South Yarra: Eleanor Curtain Publishing. Lyman, L., Foyle, H. C. (1988). Cooperative learning strategies and children. ERIC Digest. Makin, L., Diaz, C. J., McLachlan, C. (Eds.). (2007). Literacies in childhood: Changing views, challenging practice (2nd ed). Elsevier Australia. McLeod, S. (2014). Lev Vygotsky. Retrieved 10 March 2015, from http://www.simplypsychology.org/vygotsky.html McLeod, S. (2012). Simply Psychology. Retrieved 10 March 2015, from http://www.simplypsychology.org/bruner.html Reys, R. E., Lindquist, M. M., Lambdin, D. V., Smith, N. L., Rogers, A., Falle, J., Frid, Sandra. Bennett, S. (2012). Helping children learn mathematics. Australia: John Wiley sons Australia. Robbins, J. (2007, August). Young children thinking and talking: Using sociocultural theory for multi-layered analysis. In Learning and Socio-cultural Theory: Exploring Modern Vygotskian Perspectives International Workshop 2007 1(1), 46-65. Sperry Smith, S. (2009). The language of math: communication and representation. In early childhood mathematics (4th ed.). Boston: Pearson. van den Heuvel-Panhuizen, M., van den Boogaard, S., Doig, B. (2009). Picture books stimulate the learning of mathematics. Australian journal of early childhood, 34(3), 30-39. van den Heuvel-Panhuizen, M., Elia, I. (2012). Developing a framework for the evaluation of picturebooks that support kindergartnersââ¬â¢ learning of mathematics. Research in mathematics education, 14(1), 17-47. Zone of Proximal Development and Scaffolding. (n.d.). Retrieved March 13, 2015, from http://www.toolsofthemind.org/philosophy/scaffolding/ Names: Loo Si Hui (25687514) Page 1
Tuesday, August 20, 2019
Optimal Reactive Power Planning By Using Evolutionary Engineering Essay
Optimal Reactive Power Planning By Using Evolutionary Engineering Essay This paper presents a methodology for solving Optimal Reactive Power Planning (ORPP) problem by using Evolutionary Programming (EP) Optimization Technique in order to improve the voltage stability and minimize the losses in the power system. This study has developed the Evolutionary Programming (EP) Optimization Technique using MATLAB software. The study tested two fitness functions namely total loss minimization and the voltage stability improvement in power system with two different mutation technique. Comparison in the results obtained was made in order to determine the best fitness function and the best mutation technique to be used for solving ORPP and hence the voltage stability is improved. The proposed technique was tested on the IEEE 26 bus reliability test system. Keywords: Optimal Reactive Power Planning (ORPP), Voltage Stability Improvement, Evolutionary Programming (EP) I. INTRODUCTION In general, the problem of optimal reactive power planning (ORPP) can be defined as to determine the amount and location of shunt reactive power compensation devices needed for minimum cost while keeping an adequate voltage profile. The ORPP is one of the most challenging problems since objective functions, the operation cost and the investment cost of new reactive power sources, should be minimized simultaneously [1]. Transmission loss can be minimised by performing reactive power planning which involves optimisation process. The ORPP is a large-scale nonlinear optimization problem with a large number of variables and uncertain parameters. Various mathematical optimization algorithms have been developed for the ORPP, which in most cases; use nonlinear [2], linear [3], or mixed integer programming [4], and decomposition methods [5-8]. However, these conventional techniques are known to converge to a local optimal solution rather than the global one for problems such as ORPP which have many local minima. Recently, evolutionary algorithms (EAs) have been used for optimization; in particular both the genetic algorithm and evo1ution programming have been used in the ORPP problem. The EA is a powerful optimization technique analogous to the natural selection process in genetics. It is useful especially when other optimization methods fail in finding the optimal solution [1]. Evolutionary Programming (EP) optimization technique is recently applied in solving electric power system optimization problems. It is part of the Evolutionary Algorithm (EA) optimization techniques under the artificial intelligence hierarchy. Optimization is an important issue in power system operation and planning particularly in the area of voltage stability studies [9]. In this study, EP engine was initially developed to implement the optimisation process considering two mutation techniques, each with two different objective functions. Comparative studies performed in this study aimed to identify the most suitabl e mutation technique with the best objective function for minimising transmission loss in power system and also improving the voltage stability. The parameters for this problem are: generated reactive power (Qg), injected reactive power (Qinj) and transformer tap (T). Validation on the effectiveness of the proposed technique was conducted on the IEEE-26 reliability test system. Figure 1: The IEEE 26 bus test system II. OBJECTIVES The two objective functions of this study are: To obtain the total loss minimization To improve the voltage stability Where: Total_Loss is total loss minimization LQNmax is voltage stability improvement III. BACKGROUND STUDIES A. Optimal Reactive Power Planning (ORPP) Optimal Reactive Power Planning (ORPP) is a sub-problem of Optimal Power Flow solution which has been widely used in power system operation and planning to determine the optimal control parameter settings, in order to minimize or maximize the desired objective function while satisfying a set of systems constraint. Reactive Power Planning (RPP) involves in optimizing the transformer tap setting, injection of reactive power at generator and load bus so as to fulfill the objective function. Since the OPF approach is commonly concerned with the security and economic operation of the power system, Economic Dispatch (ED) technique is also adopted in RPP scheme. The value of active power generated by the generator is also adjusted in the approach. [11] ORPP is a nonlinear programming problem which has the following mathematical formulation: Maximize or minimize f(x, u) (3) subject to g(x, u) =0 (4) hmin à ¢Ã¢â¬ °Ã ¤ h(x, u) à ¢Ã¢â¬ °Ã ¥ hmax (5) where u is the vector of control variables and x is the vector of dependent variables. f(x, u) is the objective function, while g(x, u) is the nodal power constraints with hmin à ¢Ã¢â¬ °Ã ¤ h(x, u) à ¢Ã¢â¬ °Ã ¥ hmax are the inequality constraints of the dependent and independent variables. B. Evolutionary Programming (EP) EP is one of the popular techniques which fall under the Evolutionary Computation in Artificial Intelligence (AI) hierarchy and increasingly applied for solving power system optimization problem in recent years. A new population is formed from an existing population through the use of a mutation operator. This operator produces a new solution by perturbing each component of an existing solution by a random amount. The degree of optimality is measured by the fitness, which can be defined as the objective function of the problem [12]. Through the use of a ranking scheme, the candidate solutions in each population were sorted in ascending order according to the number of the best population. The best population form a resultant population is referred as the next generation. The ranking scheme must have more optimal solutions which has a greater chance of survival than the poorer solutions. It is a stochastic optimization strategy, which based on the mechanics of natural selections-mutation, competition and evolution. This technique stressed on the behavioural linkage between parents and their offspring. In general, EP consists of 3 major steps which briefly discussed as follow [12], [13]: i. Initialization The initial population of ÃŽà ¼ individuals consists of (xi, Ãâ Ã
¾i), Ãâ¹Ã¢â¬ ¦i à ¢Ã¢â¬Å¡Ã ¬ {1, 2,à ¢Ã¢â ¬Ã ¦ÃŽà ¼} are generated randomly based on its limit, whereby xi denotes the control variable and Ãâ Ã
¾i is the strategic parameter with respect to xi. The fitness is calculated for each individual based on its objective function, f(xi). ii. Mutation a) First Mutation Technique Each parent (xi, Ãâ Ã
¾i), i=1,à ¢Ã¢â ¬Ã ¦, ÃŽà ¼, creates a single offspring (xi, Ãâ Ã
¾i), where xi and Ãâ Ã
¾i are given by: xi (j) = xi (j) + Ãâ Ã
¾i (j) Nj (0, 1) (6) Ãâ Ã
¾i (j) = Ãâ Ã
¾i (j) exp (à ââ¬Å¾ N (0, 1) + à ââ¬Å¾ Nj (0, 1)) (7) and à ââ¬Å¾ = ((2(n) à ½) à ½)-1 (8) à ââ¬Å¾= ((2n) à ½)-1 (9) xi (j), xi'(j), Ãâ Ã
¾i(j) and Ãâ Ã
¾i'(j) are the j-th component of the vectors xi, xi, Ãâ Ã
¾i and Ãâ Ã
¾i respectively. N(0,1) represents a normally distributed one-dimensional random number with mean zero and standard deviation 1. Nj(0,1) denotes that the random number is generated anew for each value of j. Subsequently, the fitness is calculated for each offspring. b) Proposed Mutation Technique The proposed mutation rule was inspired by neural network back propagation learning. The following three equations are employed for perturbing the parents to generate their offspring: In these equations, xij [k] [k] is the jth variable of an ith individual at the kth generation. The learning rate, Ãâ Ã
¾, and the momentum rate, ÃŽà ±, are real-valued constants that are determined empirically. |.| denotes an absolute value and N represents the normal distribution. ÃŽâ⬠xij [k] is the amount of change in an individual, which is proportional to the temporal error, and it drives the individual to evolve close to the best individual at the next generation. It may be viewed as a tendency of the other individuals to take after or emulate the best individual in the current generation. sxij [k] is the evolution tendency or momentum of previous evolution. It accumulates evolution information and tends to accelerate convergence when the evolution trajectory is moving in a consistent direction [14]. The best individual is mutated only by the momentum. This expands the exploitation range and increases the possibility for escaping from local minima. acci[k] in (10) is defined as follows. acci[k] = 1; if the current update has improved cost, 0; otherwise. (10) iii. Combination and Selection In combination stage, the union of parents and offspring are ranked in ascending or descending order according to its fitness and purpose of the optimisation. Hence, the top ÃŽà ¼ individuals are selected to be parents for the next generation. The process of mutation, combination and selection are repeated until the stopping criterion is met. In this paper, the stopping criterion is taken to be the convergence of fitness value. IV. METHODOLOGY Figure 3 explained the overall methodology for the evolutionary programming optimization technique to solve ORPP. The produced offspring vector must satisfy and consider the constraints as at the initialization. The main concept of EP is the mutation process. Then continues with learning about the MATLAB software and tested the IEEE 26-Bus Test System to observe initial values which are total power loss, initial minimum and maximum voltages and the initial line stability index (LQP LQN). These initial values have been taken by considering the unstable transmission lines in the test system (IEEE 26-BUS). The unstable line means the line stability index value is close to 1.00. The unstable voltage is when the value is not within the range of (0.90à ¢Ã¢â¬ °Ã ¤Và ¢Ã¢â¬ °Ã ¤1.10). Figure 3: The flow chart for the EP optimization technique The EP program was developed and the analysis of the result is tested based on objective function of the project such as minimize total loss and the voltage stability improvement. Then, the program has been run for five times for each type of objective function. Finally, this project has been concluded and the report has been written. A. Development of EP for Optimal Reactive Power Planning The optimal reactive power planning problems has been tested on the IEEE 26 bus test system. The two objective functions tested are: Fitness1 = Total_Loss; Fitness2 = LQNmax; To find the solution of the problem, the parameters d were decided. The parameters were: Reactive Power of Generator Bus Table 1 shows the parameters and size of reactive power of generation bus. There are five generator buses in IEEE 26-bus test system: Bus 2, 3, 4, 5 and 26. The size of each bus is as below. Table 1: Parameters and size of reactive power of generator bus Parameter Bus Size (MVar) Qg2 2 0 to 50 Qg3 3 0 to 40 Qg4 4 0 to 35 Qg5 5 0 to 30 Qg26 26 0 to 20 2. Injected Reactive Power to the Bus Table 2 shows the parameters and size of injected reactive power to the bus. It shows that there is nine buses have been injected by reactive power. The buses are as below. The unit of the injected reactive power is in MVar. Table 2: Parameters and size of injected reactive power to the bus Parameter Bus Size (MVar) C1 1 0 to 9 C4 4 0 to 9 C5 5 0 to 9 C6 6 0 to 9 C9 9 0 to 9 C11 11 0 to 9 C12 12 0 to 9 C15 15 0 to 9 C19 19 0 to 9 3. Transformer Tap at the Transmission Line Table 3 shows the parameters and size of transformer tap at transmission line. It shows that there is seven transformer tap change at transmission line in IEEE 26-bus test system. The size of each transformer tap is (0.9 to 1.2). Table 3: Parameters and size of transformer tap at the transmission line Parameter Line Size (p.u) T1 2-3 0.9 to 1.2 T2 2-13 0.9 to 1.2 T3 3-13 0.9 to 1.2 T4 4-8 0.9 to 1.2 T5 4-12 0.9 to 1.2 T6 6-19 0.9 to 1.2 T7 7-9 0.9 to 1.2 The EP process is initialization, mutation, rank and selection and convergence test. 4.1.1 Initialization Initial population of size 20 is formed by a set of randomly generated actual value. Each member is tested using equation (12) (17) as below. Equations (12) (16) are the generation constraints. The bus voltage limits in equation (17) are stated in order to avoid any violation to the system operation. The total loss limit in equation (18) is stated in order to avoid the losses greater than the initial values. 0MVar à ¢Ã¢â¬ °Ã ¤ Qg2 à ¢Ã¢â¬ °Ã ¤ 50MVar (12) 0MVar à ¢Ã¢â¬ °Ã ¤ Qg3 à ¢Ã¢â¬ °Ã ¤ 40MVar (13) 0MVar à ¢Ã¢â¬ °Ã ¤ Qg4 à ¢Ã¢â¬ °Ã ¤ 35MVar (14) 0MVar à ¢Ã¢â¬ °Ã ¤ Qg5 à ¢Ã¢â¬ °Ã ¤ 30MVar (15) 0MVar à ¢Ã¢â¬ °Ã ¤ Qg26 à ¢Ã¢â¬ °Ã ¤ 20MVar (16) 0.90V à ¢Ã¢â¬ °Ã ¤Ã ¢Ã¢â¬ ââ¬Å¡Và ¢Ã¢â¬ ââ¬Å¡Ã ¢Ã¢â¬ °Ã ¤ 1.10V (17) Total Losses à ¢Ã¢â¬ °Ã ¤ 16 (18) The generated random numbers must be smaller than the initial solution set in order to make sure that fitness will be improved. Only the member that satisfy the constraints are included in the initial population set. 4.1.2 Mutation Mutation is a method to execute the random number to produce offspring. An offspring vector Li is created from each parent vector by adding Gaussian random with zero mean and standard deviation. 4.1.3 Rank and Selection The offspring populations generated form mutation process is merged with the parent populations. The selection process is to generate a new 20 populations based on the objective function of total losses minimization and the voltage stability improvement. All of members were sorted in ascending order to produce the best twenty or the strongest twenty populations for next generation. 4.1.4 Convergence test The stopping criteria in order to obtain the optimal solution are by looking at the difference in maximum fitness and minimum fitness which must less then certain values. If not achieved, the process will be repeated until it converged. Where: Total_Lossmax- Total_Lossmin LQNmax LQNmin V. RESULTS AND DISCUSSION An EP optimization technique has been developed in this study and tested on IEEE 26-bus test system. The objective function is to minimize the total power loss and to improve the voltage stability in power system. The program has been developed to find the optimal value of control variables based on each objective functions. However, before this program was run, load flow solution for the IEEE 26-bus test system was obtained to determine the initial values. The initial total power loss and stability index is 18.986 MW and 0.754 respectively. For each objective function the program was run five times and the results were tabulated in tables according to the objective function. Then the best result for each objective function was selected and tabulated in Table 1 in the Appendix A in order to make a comparison between the two objective functions. According to the result which tabulated in Table 1 in the Appendix A, it was found that EP optimization technique with voltage stability improvement as the objective function give the best result which is total power loss of 14.462 MW and stability index of 0.717. The EP optimization technique with total power loss minimization as the objective function give results 14.987 MW. The EP optimization technique using proposed mutation rule with voltage stability improvement as objective function, the result MW and for the total power loss and stability index respectively. According Table 4, the total power loss and stability index is 15.534 MW and 0.734 respectively. The result after solve the Optimal Reactive Power Planning (ORPP) is 13.019 MW and 0.699. The percentage reduction for total power loss and stability index after solves the ORPP is 16.19 % and 4.77 %. Table 4: Comparison results before and after solves the Optimal Reactive Power Planning Terms Before Solve ORPP After Solve ORPP Total Power Loss (MW) 15.534 13.019 Stability Index, LQNmax 0.734 0.699 VI. CONCLUSION An evolutionary programming optimization technique has been developed to optimize the real power of generator bus, the reactive power and transformer tap control variables for minimal total cost of generation, total power loss and voltage stability improvement. In this paper, the total cost minimization is the best objective function for minimization of total cost, total power loss and stability index is reduced. The percentage reduction for the total cost and total power loss is acceptable. The percentage reduction of stability index is the highest. The percentage reduces for the total cost, total power loss and stability index is 7.77 %, 16.19 % and 4.77 % respectively. This is the acceptable and reasonable percentage reduction as compared to other objective functions. Therefore voltage stability improvement may not have to be the objective function in order to improve the voltage stability condition of a power system in solving the OPF. VII. FUTURE DEVELOPMENT For future development, the other optimization techniques are proposed to be implemented in solving the ORPP in order to minimize the total power system losses and especially to improve the voltage stability in larger power system. Further modification should be included to get more accurate results for example using different mutation rules and selection strategies. VIII. REFERENCES [1] Kwang. Y. Lee and Frank F. Yang Department of Electrical Engineering The Pennsylvania State University University Park, PA 16802, Optimal Reactive Power Planning Using Evolutionalry Algorithms: A Comparative Study for Evolutionary Programming, Evolutionary Strategy, Genetic Algorithm, and Linear Programming; IEEE Transactions on Power Systems, Vol. 13, No. 1, February 1998 [2] R. Billington and S. S. Sachdev, Optimum network VAR planning by nonlinear programming IEEE Trans. on Power Appar. and Syst., Vol. PAS-92, pp. 6 [3] T. Heydt and W. M. Grady, Optimal Var siting using linear load flow formulation, IEEE Trans. on Power Appar. and Syst., pp. 1214-1222. Vol. PAS-102, No. 5, May 1983. [3] K. Aoki, M. Fan, and A. Nishkori, Optimal Var planning by approximation method for recursive mixed integer linear planning, IEEE Trans. on Power Syst.,Vol. PWRS-3, No. 4, pp. 1741-1747, November 1988. [4] K. Y. Lee, Y. M. Park, and J. L. Oritz, A united approach to optimal real and reactive power dispatch, IEEE Trans. on Power Appar. and Syst., Vol. PAS-104, pp. 1147-1153, May 1985. [SI K. Y. Lee, J. L. Ortiz, Y. M. Park, andL. G. Pond, An optimization technique for reactive power planning of subtransmission network under normal operation, IEEE Trans. on Power Syst., Vol. PWRS-1, pp. 153-159, May 1986. [6] M. K. Mangoli, K. Y. Lee, and Y. M. Park, Operational real and reactive power control using linear programming, Electric Power Systems Research,[7] M. K. Mangoli, K. Y. Lee, andY. M. Park, Optimal long-term reactive power planning using decomposition techniques, Electric Power System Research, Vol. 26, Rana Mukerji, Wendell Neugebauer, Richard P. Ludorf and Armand Catelli, Evaluation of Wheeling and Non-Utility Generation (NUG) Options using Optimal Power Flows, IEEE Transaction on Power Systems, Vol. 7, No. 1, February 1992. [3] Kessel and Glavitsch> Estimating the Voltage Stability of a Power System, IEEE Transaction on Power Delivery, Vol. PWRD-1, NO. 3, July 1986, pp 346-352. [4] Jason Yuryevich and Kit Po Wong, Evolutionary Programming Based Optimal Power Flow Algorithm, IEEE Transaction on Power Systems, Vol. 14, No. 4, November 1999, pp 1245-1250. [5] A.M. Chebbo, M.R. Irving. M.J.H Collapse Proximity Indicator: Behaviour and Implications, IEE Proceedings -C, Vol. 139, No. 3, May 1992. [6] Mahmoud Moghavvemi, New Method for Indicating Voltage Stability Condition in Power System, Proceedings of IEE International Power Engineering Conference, IPEC97, Singapore, pp. 223-227. [7] Jason Yuryevich, Student Member IEEE, Evolutionary Programming Based Optimal Power Flow Algorithm, IEEE Transactions on Power Systems, Vol. 14, No. 4, November 1999. [8] Salami, M. and Cain, G., Multiple Genetic Algorithm Processor for The Economic Power Dispatch Problem, Proceeding of the genetic algorithm in engineering systems: Innovations and Applications, Conference Publication No. 414, IEE, 1995, pp 188-193. [9] I Musirin and T K Abdul Rahman, On-Line Voltage Stability Index for Voltage Collapse Prediction in Power System, presented at Brunei International Conference on Engineering and Technology 2001 (BICET2001), Brunei. October 2001. [10] Toro, V.D., Electric Power System, Prentice Hall, Englewood Cliffs, New Jersey, 1992. [11] Whats Evolutionary Programming, http://www.faqs.org/faqs/ai-faq/genetic/part2/section-3.html. [12] Leandro Nunes de Castro and Fernando Jose Von Zuben, Artificial Immune System:Part 1- Basic Theory and Applications, Technical report TR-DCA 01/99. 1999. [13] Slobodan Pajic, Dr Kevin A. Clements, Dr. Paul W. Davis and Dr Alexander E. Emanuel, Sequential Quadratic Programming Base Contingency Constraint Optimal Power Flow, Degree of Master of Science in Electrical and Computer Engineering, Worcester Polytechnic Institute, April, 29 2003. [14] Fogel , D.B. : A comparison of evolutionary programming and genetic algorithms on selected constrained optimization problems, Simulation, June,1995,pp.397-404. [15] Yao, X., Liu, Y. and Lin, G., (1999) Evolutionary programming made faster, IEEE Trans. Evolutionary Computation. vol. 3, no. 2, pp. 82-102. [16] Miller, R.H. and Malinnowski, J.H., Power System Operation, McGraw-Hill, Inc., 1994. Appendix A Table 1: Results of EP Optimization Technique Objective Function Control Variables/ Parameters of OPF Total Cost ($/h) Total Power Loss (MW) Stability Index, LQNmax Time Taken (s) Real Power of Generator Bus (MW) Injected Reactive Power (Mvar) Transformer Tap (p.u) Pg2 Pg3 Pg4 Pg5 Pg26 C1 C4 C5 C6 C9 C11 C12 C15 C19 T1 T2 T3 T4 T5 T6 T7 Total Power Loss Minimization 163.12 281.14 146.07 147.94 92.11 5.95 4.79 0.39 5.39 5.23 1.40 4.23 5.43 3.83 0.96 0.99 1.04 0.96 0.96 0.96 0.91 15449.1 12.132 0.767 11843 Voltage Stability Improvement 110.35 287.28 128.95 163.42 97.14 1.24 1.28 2.36 1.05 2.58 0.76 4.50 2.19 2.39 0.94 1.00 0.96 1.11 1.05 0.90 0.98 15523.1 14.461 0.713 6358
Monday, August 19, 2019
Our Neighborhood Drawbacks Essay -- essays research papers fc
My family and I live in a private zone in Visalia which has neat streets and attractive sidewalks decorating our neighborhood. In addition, we count with a secure playground area for our kids funny. It is surrounded by a high fence and has a soft carpet under the playground to protect our kids against fall downs. Many of our residents declare that is a pleasure to take a walk around our area. Laura, a woman who lives in front our home said: ââ¬Å"It is a delight to walk to school every morning because I can enjoy our neighborhood beauty.â⬠In addition, we have the advantage of the splendor during any season. For instance, we can see numerous leaves of different colors falling down in the autumn. Reds, browns, and oranges tones cover our streets. In the spring, everyone can take a leisure time under shades of flourishing gardens full of leafy trees. We are very proud of living in this beautiful area. Nevertheless, a large deserted lot near our locality brings out some annoying effects on the residents. à à à à à This unoccupied lot gives to the community a disagreeable look that contrasts with the beauty of our neighborhood. The owners send a person to the terrain once a year to clean it up, but waste cumulates quickly. Old mattress, useless tires, and worn-out shoes give our area a nasty aspect. In addition, some people who buy their provisions in a store located at the back of our vicinity leave shopping carts in this careless lot. Consequently, gangs take adv...
Sunday, August 18, 2019
Nucor Case Analysis :: Finance Business Essays
Nucor Case Analysis Case summary: Nucor is the worldââ¬â¢s largest recycler, recycling over 10 million tons of scrap steel annually. Nucor descended from auto manufacturer Ransom E. Olds, who founded Oldsmobile. The company evolved into the Nuclear Corporation of America, which was involved in the nuclear instrument and electronics business in the 50ââ¬â¢s and early 60ââ¬â¢s. Over the next five years, Valley Sheet Metal, Vulcraft Corporation and U.S. Semi-conductor Products joined the Nuclear Corporation. After suffering several money-losing years, in 1964 F. Kenneth Iverson was installed as president. Management then decided to integrate backwards into steel making, and in 1972 they adopted the name Nucor. Since then Nucor has established itself as a leader in the steel industry through efficiency and innovation. It now employs more than 7,000 people worldwide and has experienced tremendous growth under its new CEO Daniel R. DiMicco. SWOT Analysis Strengths â⬠¢ Low Cost Producer â⬠¢ Employee/Manager ial Relations Leading Innovator â⬠¢ Low Debt Load â⬠¢ Overall industry leader Weaknesses Dependency on scrap metal Company Profile - Nucor Corporation is the largest steel producer in the United States and had net sales of $11.3 billion in 2004. -Nucor's origins are with auto manufacturer Ransom E. Olds, who founded Oldsmobile and then Reo Motor Cars. -The reorganization resulted in restructuring and eliminating money-losing businesses which left only the steel joist business called Vulcraft -Vulcraft operated in Florence, South Carolina and Norfolk, Nebraska -Management then decided to integrate backwards into steelmaking by building its first steel mill in Darlington, South Carolina in 1968 -In 1972 the company adopted the name Nucor Corporation -By 1985 Nucor was the seventh largest steel company Situational Analysis General External Environment ï ¶Ã à à à à Sociocultural - Nonunion workers got paid more than 85% of the states they worked in -Recycled more than 10 millions tons of scrap metal annually ï ¶Ã à à à à Technological -Began using a twin shell electric furnace to increase production and lower costs and increase market share -Developed and implemented strip casting overseas to eliminate a step in the steel making process ï ¶Ã à à à à Demographic -Economic slow down in early 90ââ¬â¢s led to a decreased demand for steel -By 1995 the steel industry was the best it was for 20 years ï ¶Ã à à à à Economic -Import values decreased for all steel products from 1998 to 1999 -U.S. steel producers facing higher energy costs ï ¶Ã à à à à Global -Increasingly tough environmental rules -Cheaper imports for steel Industry Analysis ââ¬â Nucor has established itself as a leader in the steel industry through efficiency and innovation. Industry Driving Forces of Change ïÆ' ¼Ã à à à à Increased demand on a global scale due to increase in manufacturing across the world, opposite in U.
Saturday, August 17, 2019
Business Task 1 on individual report Essay
Despite its future economic prospects, the United Arab Emirates continues to suffer from corporate governance issues. The development of corporate governance in the region has largely been influenced by religion (Gellis et al., 2002). The rules governing the practice of corporate governance have been significantly influenced by Islamic Sharia. This reflects the cultural and religious characteristic of the region (Islam and Hussain, 2003). Islamic Sharia specifies a number of core values such as trust, integrity, honesty and justice which are similar to the core values of corporate governance codes in the West. However, a survey of corporate governance in a number of Gulf countries such as United Arab Emirates suggests that the region continues to suffer from corporate governance weaknesses. 2.0 Reasons for the structure including use of suitable evidence and data à à à à à à The structure of the above sectors and reasons for the structure and effects on the performance of firms has been vital subject of debate in the finance literature. Empirical evidence suggests that privately held firms tend to be more efficient and more profitable than publicly held firms. This shows that ownership structure matters. The question now is how does it affect firm performance and why this kind of structure? This question is significant since it is based on a research agenda that has been strongly promoted by La Porta et al. (1998; 1999; 2000). According to these studies, failure of the legislative framework to provide sufficient protection for external investors, entrepreneurs and founding investors of a company tend will maintain large positions in their firms thus resulting in a concentrated ownership structure. This finding is interesting because it implies that ownership structure can affect the performance of the firm in one way or the other. It is indisputable; the lack of regulations in corporate governance gives managers who intend to mishandle the flow of cash for their own personal interest a low control level. The empirical results from the past studies of impacts of ownership structure on performance of corporate have been inconclusive and mixed up (Turki, 2012). In response to corporate governance issues and their impact on corporate performance, Shleifer and Vishny (1997); and Jensen (2000) have suggested the need for improved corporate governance structures so as to enhance transparency, accountability and responsibility. Corporate governance reform and the introduction of innovative methods to limit abuse of power by top management have been justified by recent large scale accounting and corporate failures such as Enron, HealthSouth, Tyco International, Adelphia, Global Crossing, WorldCom, Cendant and the recent global financial crisis. According to Monks and Minow (1996) numerous corporate failures suggest that existing corporate governance structures are not working effectively. Corporate failures and accounting scandals initially appear to a U.S phenomenon, resulting from excessive greed by investors, overheated equity markets, and a winner-take-all mind-set of the U.S society. However, the last decade has shown that irregularities in accounting, managerial greed, abuse of power, are global phenomenon that cannot be limited to the U.S. Many non-U.S firms such as Parallax, Adecco, TV Azteca, Hollinger, Royal Dutch Shell, Vivendi, China Aviation, Barings Bank, etc. have witnessed failures in corporate governance and other forms of corporate mishaps. In addition to corporate governance failures, global standards have declined significantly and unethical and questionable practices have become widely accepted. The net impact has been a reduction in the amount of faith that investors and shareholders have in the efficiency of capital markets. There is no universally accepted corporate governance model that the interest of shareholders and investors are adequately protected as well as ensuring that enough shareholder wealth is being created (Donaldson and Davis, 2001; Huse, 1995; Frentrop, 2003). Much of the debate on corporate governance has focused on understanding whether the Board of Directors has enough power to ensure that top management is making the right decision. The traditional corporate governance framework often ignores the unique effect that the owners of the firm can have on the board and thus the firmââ¬â¢s top management. The traditional framework therefore ignores that fact that the owners of the firm can influence the board and thus top management to act of make particular decisions. Corporate governance studies are therefore yet to identify and deal with the complexities that are inherent in corporate governance processes (Jensen, 2000; Shleifer, 2001; Frentrop, 2003; Donaldson and Davis, 2001; Huse, 1995). Investment choices and owner preferences are affected among other things by the extent their degree of risk aversion. Owners who have economic relations with the firm will be interested in protecting their interests even if it is reasonably evident that such protection will result in poor performance. According to Thomsen and Pedersen (1997) banks that play a dual role as owners and lenders would discourage high risk projects with great profit potential because such projects may hinder the firm from meeting its financial obligations if the project fails to realize its expected cash flows. The government also plays a dual role in that it serves as both an owner and a regulator. Therefore owners who play a dual role in the firm often face a trade-off between promoting the creation of shareholder value and meeting their other specific objectives (Hill and Jones, 1992). Existing corporate governance frameworks have often ignored these issues in UAE. Rather, much of the emphasis has been on the effectiveness of the board in ensuring that top management is working towards meeting the goals of shareholders. Present corporate governance frameworks lack the ability to monitor owners and their influence on top management. The framework lacks the ability to align the role played by firm owners, board of directors and managersââ¬â¢ interests and actions with the creation of shareholder value and welfare motivation of stakeholders. Discussion of the possible future structure of the industry à à à à à The United Arabs Emirates, and mainly Abu Dhabi, is enduring to increase its economy by reducing the total proportion impact of hydrocarbons to Gross Domestic Product. This is currently being done by growing investment in sector areas like: services in telecommunication, education, media, healthcare, tourism, aviation, metals, petrochemicals, pharmaceuticals, biotechnology, transportation and trade. Significant investments have been made by United Arab Emirates to establish itself as a regional trade hub. United Arab Emirates is also member of the World Trade Organization (WTO). In addition, there are ongoing negotiations to establish free trade agreements with other regions and countries such as the EU. These factors will contribute positively to the regionââ¬â¢s integration into the global economy. United Arab Emirates is currently working towards diversifying their economies from the oil sector into other sectors. This diversification is expected not only to increase trade among member countries but also to increase the regionââ¬â¢s trade with other countries and regions (Sturm et al., 2008). How the structure affects strategy decisions à à à à à à Ownership structure has an impact on firm performance in United Arab Emirates energy production owned sector. This region has witnessed significant economic growth over the last few decades. The region is also facing turbulent times with respect to corporate governance practices, resulting in poor firm performance. Corporate governance issues are not limited to the United Arabs Emirates as part of GCC Countries. From a global point of view, corporate governance has witnessed significant transformations over the last decade (Gomez and Korine, 2005). As a result, there has been an interest in the research attention accorded to corporate governance. The credibility of current corporate governance structures has come under scrutiny owing to recent corporate failures and low corporate performance across the world. The risk aversion of the firm can be directly affected by the ownership structure in place. Agency problems occur as a result of divergence in interests between principals (owners) and agents (managers) (Leech and Leahy, 1991). The board of directors is thereby regarded as an intermediary between managers and owners. The board of directors plays four important roles in the firm. These include monitoring, stewardship, monitoring and reporting. The board of directors monitors and controls the discretion of top management. The board of directors influences managerial discretion in two ways: internal influences which are imposed by the board and external influences which relate to the role played by the market in monitoring and sanctioning managers (Jensen and Meckling, 1976; 2000). B: Contribution of the sector to the economy of your chosen country Analysis of contribution of sector à à à à à United Arab Emirates remain major global economic player because it has the highest oil reserves. UAE together with the other Gulf Cooperation Council accounts for over 40% of global oil reserves and remains important in supplying the global economy with oil in future. As a result, investment spending on oil exploration and development of new oil fields is on the rise (Sturm et al., 2008). Global oil demand is currently on the rise. This growth is driven mainly by emerging market economies, as well as the oil producing UAE as part of GCC countries. In addition, Europe and the U.S are witnessing depletions in their oil reserves. This means that these regions will become increasingly dependent on the Gulf region which includes UAE for the supply of oil (Sturm et al., 2008). The importance of the United Arabs Emirates as a global economic player is therefore expected to increase dramatically in the near future Use of appropriate data and other evidence à à à à à à By the year 2011, the GDP of United Arab Emirates totaled to 360.2 billion dollars. Subsequently in 2001, yearly growth of GNP varied from about 7.4% to 30.7%. As part of the chief crude oil suppliers, the United Arab Emirates was at first cut off from the universal recession by high prices on oil that rose to a record 147 US dollars per barrel in the month of July in 2008. Nevertheless, the nation was ultimately influenced by the excavating worldwide recession which resulted to a decline in oil demand, reducing the oil prices to a reduced amount not exceeding a third of the peak of July 2008. In the last 2008 months, the trembles rumbling through global economies were lastly experienced in this section. Oil (million barrels) à à Proved reserves, 2013 Total oil supply (thousand bbl/d), 2012 Total petroleum consumption, 2012 Reserves-to-production ratio 97,800 3,213 618 95 Natural Gas (billion cubic feet) Proved reserves, 2013 Dry natural gas production, 2012 Dry natural gas consumption, 2012 Reserves-to-production ratio 215,025 1,854 2,235 116 UAE summary energy statistics C: Critical appraisal of sustainability targets on business plan of your chosen organisation Oil firms in United Arab Emirates is still quite immature. Most businesses are controlled by a few shareholders and family ownership is prevalent. Most large and small businesses are family businesses (Saidi, 2004). The state is also significantly involved in the management of companies (Union of Arab Banks, 2003). This is contrary to the status quo in Western democracies where firms are owned by a diverse group of shareholders which makes ownership to be completely separated from control. The ownership structure in United Arab Emirates suggests that stewardship and monitoring aspects of non-executive directors (NEDs) is absent in firms based in United Arab Emirates. Ownership concentration has remained high in the region because of practices such as rights issues which enable existing wealthy shareholders, and influential families to subscribe to new shares in Initial Public Offerings (IPOs) (Musa, 2002). According to a study of the corporate governance practices of five countries by the Union of Arab Banks (2003), ownership of corporations is concentrated in the hands of families. In addition, corporate boards are dominated by controlling shareholders, their relatives and friends (Union of Arab Banks, 2003). There is a no clear separation between control and ownership. Decision making is dominated by shareholders. The number of independent directors in the board is very small and the functions of the CEO and Chairman are carried out by the same person. The high concentration in firm ownership therefore undermines the principles of good corporate governance that are prevalent in western settings (Yasin and Shehab, 2004). This evidence is consistent with findings by the World Bank (2003) in an investigation of corporate governance practices in the Middle East North Africa (MENA) region which also includes the Gulf region. 1.0 Objective of empirical evidence à à à à à à The empirical evidence on the impact of ownership structure on firm performance is mixed. Different studies have made use of different samples to arrive at different, contradictory and sometimes difficult to compare conclusions. The literature suggests that there are two main ownership structures in firm including dispersed ownership and concentrated ownership. With respect to concentrated ownership, most of the empirical evidence suggests that concentrated ownership negatively affects performance (e.g., Johnson et al., 2000; Gugler and Weigand, 2003; Grosfeld, 2006; Holmstrom and Tirole, 1993). Different studies have also focused on how specifically concentrated ownership structures affect firm performance. For example, with respect to government ownership, Jefferson (1998), Stiglitz (1996), and Sun et al. (2002) provide theoretical arguments that government ownership is likely to positively affect firm performance because government ownership can facili tate the resolution of issues regarding the ambiguous property rights. However, Xu and Wang (1999) and Sun and Tong (2003) provide empirical evidence that government ownership has a negative impact on firm performance. On the contrary, Sun et al. (2002) provide empirical evidence that government ownership has a positive impact on firm performance. It has also been argued that the relationship between government ownership and firm performance is non-linear. Another commonly investigated ownership type and its impact on firm performance is family ownership. Anderson and Reeb (2003), Villanonga and Amit (2006), Maury (2006), Barontini and Caprio (2006), and Pindado et al. (2008) suggest that there is a positive link between family ownership and firm performance. Despite the positive impact some studies argue that the impact of family ownership is negative. The impact of foreign ownership has also been investigated. Most of the evidence suggests that foreign ownership has a positive impact on firm performance (e.g., Arnold and Javorcik, 2005; Petkova, 2008; Girma, 2005; Girma and Georg, 2006; Girma et al., 2007; Chari et al., 2011; Mattes, 2008).With respect to managerial ownership, it has been argued that the relationship is likely to be positive (Jensen and Meckling, 1976; Chen et al., 2005; Drobetz et al., 2005). Despite this suggestion Demsetz and Lehn (1985) observe a negative relationship between dispersed ownership and firm performance. Institutional ownership has also been found to have a positive impact on firm performance (e.g. McConnell and Servaes, 1990; Han and Suk, 1998; Tsai and Gu, 2007). Furthermore, some studies suggest that there is no link between insider ownership and performance . Very limited studies have been conducted on the impact of ownership structure on firm performance in GCC countries like UAE. For example, Arouri et al. (2013) provide evidence that bank performance is affected by family ownership, foreign ownership and institutional ownership and that there is no significant impact of government ownership on bank performance. Zeitun and Al-Kawari (2012) observe a significant positive impact of government ownership on firm performance in the Gulf region. The pervasive endogeneity of ownership has been cited as a potential reason why it is difficult to disentangle the relationship between ownership structure and firm performance. In addition, the relation may be a function of the type of firm as well as the period of observation in the life of the firm. This study is motivated by the mixed results obtained in previous studies and the limited number of studies that have focused on UAE as part of GCC countries. The objective of the study is to explore in more details the factors that motivate particular types of ownership structure and the potential impact of ownership structure and firm performance in the Gulf region 2.0 Empirical Evidence à à à à à The empirical evidence will focus on how different ownership structures affect firm performance. Firms are often characterized by concentrated and dispersed ownership. Concentrated ownership is expected to have a positive impact on firm performance owning to the increased monitoring that it provides (Grosfeld, 2006). Dispersed ownership has been found to be less frequent than expected. Empirical evidence suggests that most firms are characterized by various forms of ownership concentration (La Porta et al., 1999). Given this high level of ownership concentration, there has been an increasing concern over the protection of the rights of non-controlling shareholders (Johnson et al., 2000; Gugler and Weigand, 2003). Empirical evidence shows that ownership concentration at best results in poor performance. Concentrated ownership is costly and has the potential of promoting the exploitation of non-controlling shareholders by controlling shareholders (Grosfeld, 2006). Holmstrom and Tirole (1993) argue that concentrated ownership can contribute to poor liquidity, which can in turn negatively affect performance. In addition, high ownership concentration limits the ability of the firm to diversify. There are various forms of concentrated ownership such as government ownership, family ownership, managerial ownership, institutional ownership and foreign ownership. In the next section, the literature review will focus on how these separate ownership structures affect firm performance. 2.1.1 Government Ownership à à à à à à The impact of government ownership on firm performance has attracted the attention of many researchers because the government accounts for the largest proportion of shares of listed companies in some countries and also because government ownership can be used as an instrument of intervention by the government (Kang and Kim, 2012). Shleifer and Vishny (1997) suggest that government ownership can contribute to poor firm performance because Government Owned enterprises often face political pressure for excessive employment. In addition, it is often difficult to monitor managers of government owned enterprises and there is often a lack of interest in carrying out business process reengineering (Shleifer and Vishny, 1996; Kang and Kim, 2012). Contrary to Shleifer and Vishny (1997) some economists have argued that government ownership can improve firm performance in less developed and emerging economies in particular. This is because government ownership can fa cilitate the resolution of issues with respect to ambiguous property rights. The empirical evidence on the impact of state ownership on firm performance is mixed. For example, Xu and Wang (1999) provide evidence of a negative relationship between state ownership and firm performance based on data for Chinese listed firms over the period 1993-1995. The study, however, fails to find any link between the market-to-book ratio and state ownership (Xu and Wang, 1999). Sun and Tong (2003) employ ownership data from 1994 to 2000 and compares legal person ownership with government ownership. The study provides evidence that government ownership negatively affects firm performance while legal person ownership positively affects firm performance. This conclusion is based on the market-to-book ratio as the measure of firm performance. However, using return on sales or gross earnings as the measure of firm performance, the study provides evidence that government ownership has no effect on firm performance. Sun et al. (2002) provide contrary evidence from above. Using data over the period 1994-1997, Sun et al. (2002) provide evidence that both legal person ownership and government ownership had a positive effect on firm performance. They explain their results by suggesting that legal person ownership is another form of government ownership. The above studies treat the relationship between government ownership and firm performance as linear. However it has been argued that the relationship is not linear. Huang and Xiao (2012) provide evidence that government ownership has a negative net effect on performance in transition economies. La Porta et al. (2002) provide evidence across 92 countries that government ownership of banks contributes negatively to bank performance. The evidence is consistent with Dinc (2005) and Brown and Dinc (2005) who investigate government ownership banks in the U.S. 2.1.2 Family Ownership à à à à à Family ownership is very common in oil firms in UAE. There is a difference between family ownership and other types of shareholders in that family owners tend to be more interested in the long-term survival of the firm than other types of shareholders(Arosa et al., 2010).. Furthermore, family owners tend to be more concerned about the firmââ¬â¢s reputation of the firm than other shareholders (Arosa et al., 2010). This is because damage to the firmââ¬â¢s reputation can also result in damage the familyââ¬â¢s reputation. Many studies have investigated the relationship between family ownership and firm performance. They provide evidence of a positive relationship between family ownership and firm performance (e.g. Anderson and Reeb, 2003; Villalonga and Amit, 2006; Maury, 2006; Barontini and Caprio, 2006; Pindado et al., 2008). The positive relationship between family ownership and firm performance can be attributed to a number of factors. For example, Arosa et al. (2010) suggests that family firmsââ¬â¢ long-term goals indicate that this category of firms desire investing over long horizons than other shareholders. In addition, because there is a significant relationship between the wealth of the family and the value of the family firm, family owners tend to have greater incentives to monitor managers (agents) than other shareholders (Anderson and Reeb, 2003). Furthermore, family owners would be more interested in offering incentives to managers that will make them loyal to the firm. In addition, there is a substantial long-term presence of families in family firms with strong intentions to preserve the name of the family. These family members are therefore more likely to forego short-term financial rewards so as to enable future generations take over the business and protect the familyââ¬â¢s reputation (Wang, 2006). In addition, family ownership has positive economic consequences on the business. There are strong control structures that can motivate family members to communicate effectively with other shareholders and creditors using higher quality financial reporting with the resulting effect being a reduction in the cost of financing the business . Furthermore, families are interested in the long-term survival of the firm and family, which reduces the opportunistic behavior of family members with regard to the distribution of earnings and allocation of management, positions. Despite the positive impact of family ownership on firm performance, it has been argued that family ownership promotes high ownership concentration, which in turn creates corporate governance problems. In addition, high ownership concentration results in other types of costs (Arosa et al., 2010). As earlier mentioned, La Porta et al. (1999) and Vollalonga and Amit (2006) argue that controlling shareholders are likely to undertake activities that will give them gain unfair advantage over non-controlling shareholders. For example, family firms may be unwilling to pay dividends . Another reason why family ownership can have a negative impact on firm performance is that controlling family shareholders can easily favour their own interests at the expense of non-controlling shareholders by running the company as a family employment service. Under such circumstances, management positions will be limited to family members and extraordinary dividends will be paid to family shareholders (Demsetz, 1983; Fama and Jensen, 1983; Shleifer and Vishny, 1997). Agency costs may arise because of dividend payments and management entrenchment (DeAngelo and DeAngelo, 2000; Francis et al., 2005). Families may also have their own interests and concerns that may not be in line with the concerns and interests of other investor groups (Shleifer and Vishny, 1997). Schulze et al. (2001) provide a discussion, which suggests that the impact of family ownership on firm performance can be a function of the generation. For example, noting that agency costs often arise as a result of the separation of ownership from control, they argue that first generation family firms tend to have limited agency problems because the management and supervision decisions are made by the same individual. As such agency costs are reduced because the separation of ownership and control has been completely eliminated. Given that there is no separation of ownership and control in the first generation family firm, the firm relationship between family ownership and performance is likely to be positive (Miller and Le-Breton-Miller, 2006). As the firm enters second and third generations, the family property becomes shared by an increasingly large number of family members with diverse interests. The moment conflict of interests sets in the relationship between family ownership and performance turns negative in accordance to (Chrisman et al., 2005; Sharma et al., 2007). Furthermore, agency problems arise from family relations because family members with control over the firmââ¬â¢s resources are more likely to be generous to their children and other relatives (Schulze et al., 2001). To summarize, the relationship between family ownership and firm performance may be non-linear. This means that the relationship is likely to be positive and negative at the same time. To support this contention, a number of studies have observed a non-linear relationship between family ownership and firm performance (e.g. Anderson and Reeb, 2003; Maury, 2006). This means that when ownership is less concentrated, family ownership is likely to have a positive impact on firm performance. As the family ownership concentration increases, minority shareholders tend to be exploited by family owners and thus the impact of family ownership on firm performance tends negative. Small countries have a relatively weak diamond of competitive advantages (VlahiniÃâ¡-DizdareviÃâ¡; 2006). D. Analysis 1.0 Potterââ¬â¢s Diamond Model The competitive forces advantages or analysis ought to be fixed on the main competition factors and its impact analysis on the business (Porter 1998, p.142). The state, and home wealth cannot be inherited -3554730607695Faktorski uvjeti 00Faktorski uvjeti -27546301293495Vezane i podrÃ
¾avajuÃâ¡e industrije 00Vezane i podrÃ
¾avajuÃâ¡e industrije -332041536195Ã
ansa 00Ã
ansa ââ¬â it ought to be produced (Porter 1998, p.155). This wealth is influenced by the ability of industry to continually upgrade and innovate itself, and this is achievable exclusively by increase means in production ââ¬â in all parts of fiscal action. The model of Porter concerns aspect which circuitously or openly affects advantage of competition. The aspect structure a place where given manufacturing sector like in this case, oil sector, state or region a learn and act on the way of competing in that environment. (Porter; 1998, p. 165). Left0 à à à à à à Each diamond (oil) and the field of diamond (oil) as the whole structure consists of main influences that makes the oil sector competition to be successive. These influences entail: every ability and resource vital for competitive advantage of the sector; data forming the opportunity and providing the response to how accessible abilities and resources ought to be ruled; each interest group aim; and the is most crucial, oil sector pressure to innovating and investing. SWOT ANALYSIS Strengths The oil sector has many years producing oil and so is well established. Comparatively lots of sub-sectors for industrialist stability and support. Weaknesses Comparatively out of date scientific foundation. Inadequate well educated professionals and residents in comparison to the new industry needs. Lesser costs of work cost in oil sector due to low salary from regular salaries in UAE. Opportunities The likelihood for resources application of EU agreement funds, as is the state resources Reasonably good quality of 11 % graduate students share that are likely to be absorbed into this oil sector. Contribution in motivational and investment projects that help in developing the economy of UAE every time. Threats Expansion of oil production capacity of economies of South-Eastern that have competed with low prices of products and little costs of production. Loan jobs and production globalisation. Reinforcement of local competition of adjacent economies, and thus reinforcing actions that attract direct overseas exploitation of the oil sector in UAE through investments. References Admati, Pfleiderer, P., Z. 1994. Large shareholder activism, risk sharing and financial market equilibrium. Journal of Political Economy, 102: 1097-1130. AL ARUSI, A., S. et al. 2009. Determinants of Financial and Environmental Disclosures through the Internet by Malaysian Companies. Asian Review of Accounting, 17(1), pp. 59-76. Anderson, M., A. et al. 2003. Founding family ownership and the agency cost of debt. Journal of Financial Economics, 68, 263ââ¬â285. Anderson, C. , R. et al. 2003. Founding-family ownership and firm performance: evidence from the S&P500. The Journal of Finance, LVIII (3), 1301ââ¬â1328. Arnold, J., B. et al. 2005. Gifted Kids or Pushy Parents? Foreign Acquisitions and Firm Performance in Indonesia, World Bank Policy Research Working Paper No. 3597. Arosa, B., I. et al. 2010. Ownership structure and firm performance in non-listed firms: Evidence from Spain, Journal of Family Business Strategy, 1, 88ââ¬â96 Arouri, M., B. et al. 2013. The effect of Board and Ownership structure on Corporate Performance: Evidence from GCC Countries. Badrinath, S., G. et al. 1989. ââ¬Å"Patterns of Institutional Investment, Prudence, and the Managerial ââ¬Å"Safety-Netâ⬠Hypothesisâ⬠, The Journal of risk and insurance, vol. 56, no. 4, pp. 605. Barnea, A., H. et al. 1981. ââ¬Å"Market Imperfections, Agency Problems, and Capital Structure: A Reviewâ⬠, Financial Management (pre-1986) ââ¬â LA English, vol. 10, no. 3, pp. 7. Barontini, R., I. et al. 2006. The effect of family control on firm value and performance: Evidence from continental Europe. European Financial Management, 12(5), 689ââ¬â723. Black, J., H. et al. 2013. ââ¬Å"Adverse Selectionâ⬠in A Dictionary of Economics (4 ed.) Oxford Reference Online: Oxford University Press. Brown, C., D. et al. 2005. The politics of bank failures: evidence from emerging markets. Quart. J. Econ. 120, 1413ââ¬â1444 CHAPRA, M., U. et al. 2002. Corporate governance in Islamic financial institutions. Islamic Research and Training Institute, Jeddah, Saudi Arabia. Chari, A., C. et al. 2011. Foreign Ownership and Firm Performance: Emerging Market Acquisitions in the United States, University of North Carolina. Chen, C. R., et al. 2003, Managerial Ownership and firm valuation: Evidence from Japanese firms. Pacific-Basin Finance Journal 11(3): 267-283. Chrisman, J., C., et al. 2005. Trends and directions in the development of a strategic management theory of the family firm. Entrepreneurship Theory and Practice, 29, 555ââ¬â575. Davies J., R. et al .2005, Ownership structure, managerial behaviour and corporate vale. Journal of Corporate Finance 11(4), 645-660. DeAngelo, H., G. et al. 2000, Controlling stockholders and the disciplinary role of corporate payout policy: A study of the Times Mirror Company. Journal of Financial Economics, 56(2), 153ââ¬â207. Delios, A., & W. 2005, Legal person ownership, diversification strategy and firm profitability in China. Journal of Management and Governance, 9(2), 151ââ¬â169. Demsetz, H. 1983, The structure of ownership and the theory of the firm. Journal of Law and Economics, 26(2), 375ââ¬â390. Demsetz, H. & Lehn, K. 1985, ââ¬Å"The Structure of Corporate Ownership: Causes and Consequencesâ⬠, The Journal of Political Economy, vol. 93, no. 6, pp. 1155-1177 Dinà §, S., 2005. Politicians and banks: political inï ¬âuences on government-owned banks in emerging Markets. J. Finan. Econ. 77, 453ââ¬â479. Donaldson, L., & Davis, J.H. 2001, Board Structure, Board Processes and Board Performance: A Review and Research Agenda. Journal of Comparative International Management. Drobetz, W., A. Schillhofer, and H., Z. 2005, Corporate governance and expected stock returns: Evidence from Germany. European Financial Management 10, 267ââ¬â293. Eckbo, B.E. & Smith, D.C. 1998, ââ¬Å"The Conditional Performance of Insider Tradesâ⬠, The Journal of Finance, vol. 53, no. 2, pp. 467. EISENHARDT, K. M. 1989, Agency Theory: An Assessment and Review. Academy of Management Review, 14, pp. 57ââ¬â74. Fama, E., F. & Jensen, M., C. 1983, Separation of ownership and control. Journal of Law and Economics, 26(2), 301ââ¬â325. Fan, J.P.H. & Wong, T.J. 2002, Corporate ownership structure and the in formativeness of accounting earnings in East Asia. Journal of Accounting and Economics, 33, 401ââ¬â425. FORKER, J. J. 1992, Corporate Governance and Disclosure Quality. Accounting and Business Research, 22(86), pp. 111-124. Francis, J., Schipper, K., & Vincent, L. 2005, Earnings and dividend in formativeness when cash flow rights are separated from voting rights. Journal of accounting and economics, 39, 329ââ¬â360. Frentrop, P. 2003, On the discretionary power of top executives. Journal of Asset Management, 5:2, 91-104. Gartrell, C. D. and Gartrell, J. W.1996, ââ¬ËPositivism in sociological practice: 1967-1990ââ¬â¢. Canadian Review of Sociology, Vol. 33 No. 2. Girma, S. 2005, Technology transfers from acquisition FDI and the absorptive capacity of domestic firms: An empirical investigation. Open Economics Review 16, 175-187.Girma, S. Georg, H. 2006, Evaluating Foreign Ownership Wage Premium Using a Difference-in-Difference Matching approach, Journal of International Economics, 72, 97-112 Girma, S., Kneller, R., Osiu, M. 2007, Do exporters have anything to learn from foreign multinationals? European Economics Review, 51, 981-998. Gomez, P.Y. & Korine, H. 2005, Democracy and the Evolution of Corporate Governance. Corporate Governance, 13, 739-752. Grosfeld, I. 2006, Ownership concentration and firm performance: Evidence from an emerging market, Paris-Jourdan Sciences Economiques, Working Paper No.: 2006 ââ¬â 18. Gross, K. 2007, Equity Ownership and Performance: An Empirical Study of German Traded Companies, Springer: Physica-Verlag. Gugler, K. and Weigand, J. (2003), Is ownership really endogenous? Applied Economics Letters 10: 483-486. Han, K.C. & Suk, D.Y. 1998, ââ¬Å"The Effect of Ownership Structure on Firm Performance: Additional Evidenceâ⬠, Review of Financial Economics, vol. 7, no. 2, pp. 143. Hand, J.R.M. 1990, ââ¬Å"A Test of the Extended Functional Fixation Hypothesisâ⬠, The Accounting Review, vol. 65, no. 4, pp. 740. Hartzell, J.C. & Starks, L.T. 2003, ââ¬Å"Institutional Investors and Executive Compensationâ⬠, The Journal of Finance, vol. 58, no. 6, pp. 2351. Hill, C. W. L. and T. M. Jones. 1992, Stakeholder-agency theory. Journal of Management Studies 29: 131-154. Himmelberg, C.P., Hubbard, R.G. & Palia, D. 1999, ââ¬Å"Understanding the determinants of managerial ownership and the link between ownership and performanceâ⬠, Journal of Financial Economics, vol. 53, no. 3, pp. 353-384 Holmstrom, B., & Tirole, J. 1993, Market liquidity and performance monitoring. Journal of Political Economy 51, pp.678-709. HO, S. S. M. and WONG, K. S. 2001. A Study of the Relationship between Corporate Governance Structures and the Extent of Voluntary Disclosure. Journal of International Accounting, Auditing and Taxation, 10, pp 139-156. Hubbard, R.G. &P. 1996, ââ¬Å"Benefits of control, managerial ownership, and the stock returns of acquiring firmsâ⬠, The Rand Journal of Economics, vol. 26, no. 4, pp. 782. Huang, L.., X., & S. 2012,à How does government ownership affect firm performance? A simple model of privatization in transition economies, 116 (3): 480ââ¬â482. Huse, M. 1995, Stakeholder management and the avoidance of corporate control. Journal of Management Studies, 29: 131-154. Jefferson, G.H. 1998, Chinaââ¬â¢s state enterprises: public goods, externalities, and Coase. American Economic Review, 88(2), 428ââ¬â432. Jensen, M.C. 2000, A theory of the firm. Governance, residual claims and organizational forms, Cambridge, Mass: Harvard University Press. Jensen, M., C. et al. 1976, Theory of the firm: Managerial behaviour, agency costs and ownership structure. Journal of Financial Economics, 3(4), 305ââ¬â360. Johnson, S., L. 2000, Tunnelling. American Economic Review 90 (2): 22-27 (May). Kang, Y., K. 2012, Ownership structure and firm performance: Evidence from the Chinese corporate reform, China Economic Review, 23, 471ââ¬â481 La Porta, R., L. et al. 1999, Corporate ownership around the world. The Journal of Finance, 54(2), 471ââ¬â517. La Porta, R., L. et al. 1998, Law and finance, The Journal of Political Economy vol. 106no. 6, pp. 1113-1155. La Porta, R., L. et al. 2000, Agency problems and dividend policies around the world, Journal of Finance, vol.55 no.1, pp.1-33. La Porta, R., L. et al. 2002, Government ownership of banks. Journal of Finance 57, 265ââ¬â302 Law, J. 2009, ââ¬Å"Moral Hazardâ⬠in a Dictionary of Business and Management (5ed.), Oxford Reference Online: Oxford University Press. Leech, D., J. 1991, Ownership structure, control type classifications and the performance of large British companies, Economic Journal, no. 101pp. 1418-1437. Maher, M., A. 1999, Corporate Governance: Effects On Firm Performance And Economic Growth, Organisation For Economic Co-Operation And Development (OECD). Mattes, A. 2008, The Impact of Foreign Ownership on the Performance of German Multinational Firms, MicroDyn Summer School. Maury, B. 2006, Family ownership and firm performance: Empirical evidence from Western European corporations. Journal of Corporate Finance, 12(2), 321ââ¬â341. McConnell, J., J. et al.1990, ââ¬Å"Additional evidence on equity ownership and corporate valueâ⬠, Journal of Financial Economics, vol. 27, no. 2, pp. 595. Miller, D., M. et al. 2006, Family governance and firm performance: Agency, stewardship, and capabilities. Family Business Review, 19(1), 73ââ¬â87. Miller, D., L. et al. 2007, Are family firmââ¬â¢s really superior performers? Journal of Corporate Finance, 13(5), 829ââ¬â858. Moles, P., T. Et al. 2012, ââ¬Å"Adverse Selectionâ⬠in The Handbook of International Financial Terms, Oxford Reference Online: Oxford University Press. Monks, R.A. et al. 1996, Watching the Watchers, Blackwell, Cambridge, MA. Morck, R., Shleifer, A. & Vishny, R.W. 1988, ââ¬Å"Management Ownership and Market Valuation: An empirical analysisâ⬠, Journal of Financial Economics, vol. 20, no. 1, pp. 293. Myers, S.C. 1977, ââ¬Å"Determinants of Corporate Borrowingâ⬠, Journal of Financial Economics, vol. 5, no. 2, pp. 147. Pedersen, T. and Thomsen, S. 1997, Industry and Ownership Structure. European Journal of Law and Economics. Petkova, N. 2008, Does Foreign Ownership Lead to Higher Firm Productivity? mimeo. Pindado, J., Requejo, I., & de la Torre, C. (2008). Ownership concentration and firm value: Evidence from Western European family firms. 8th annual IFERA conference. Porter, M.E. 1992, ââ¬Å"Capital Choices: Changing The Way America Invests In Industryâ⬠, Journal of Applied Corporate Finance, vol. 5, no. 2, pp. 4.Porter, M., E. (1998). Competitive advantage: creating and sustaining superior performance: with a new introduction Advantage of Nations, Free Press, ISBN 0-648-84146-0, New York Pound, J. 1988, ââ¬Å"The Information Effects Of Takeover Bids and Resistanceâ⬠, Journal of Financial Economics, vol. 22, no. 2, pp. 207. Saravia J.A. & Chen, J.J. 2008, The Theory of Corporate Governance: A Transaction Cost Economics ââ¬â Firm Lifecycle Approach, School of Management, University of Surrey. Schulze, W.S., Lubatkin, M.H., Dino, R.N., & Buchholtz, A.K. 2001, Agency relation- ship in family firms: Theory and evidence. Organization Science, 12(9), 99ââ¬â116. Sharma, P., Hoy, F., Astrachan, J.H., & Koiranen, M. 2007. The practice-driven evolution of family business education. Journal of Business Research, 60, 1012ââ¬â1021. Shleifer, A. & Vishny, R.W. 1997. A survey of corporate governance. The Journal of Finance, 52(1), 737ââ¬â783. Short, H., Keasey, K., & Duxbury, D. 2002, ââ¬Å"Capital Structure, Management Ownership and Large External Shareholders: A UK Analysisâ⬠, International Journal of the Economics of Business, vol. 9, no. 3, pp. 375. Sorenson, S. 2002, How to Write Research Papers, NY: Petersonââ¬â¢s. Stiglitz, J. 1996, Whither Socialism? Cambridge, Massachusetts: The MIT Press. Stulz, R.M. 1988, ââ¬Å"Managerial Control of Voting Rights: Financing Policies and the Market for Corporate Controlâ⬠, Journal of Financial Economics, vol. 20, no. 1,2, pp. 25. Sturm, M., Strasky, J., Adolf, P., & Peschel, D. 2008, The Gulf Cooperation Council Countries: Economic structures, Recent Development and Role in the Global, Economy, European Central Bank, Occasional Series Papers, No. 92. Sun, Q. & Tong, and W.H.S. 2003, China share issue privatization: the extent of its success. Journal of Financial Economics, 70, 183ââ¬â222. Sun, Q., Tong, J., & Tong, W.H.S. 2002, How does government ownership affect firm performance? Evidence from Chinaââ¬â¢s privatization experience. Journal of Business Finance and Accounting, 29(1). Taylor, W. 1990, ââ¬Å"Can Big Owners Make a Big Difference?â⬠, Harvard business review, vol. 68, no. 5, pp. 70. Tian, L. & Estrin, S. 2005, Retained state shareholding in Chinese PLCs: does government ownership reduce corporate value? IZA discussion paper. Tsai, H. & G., Z. 2007, ââ¬Å"Institutional Ownership and Firm Performance: Empirical Evidence from U.S.-Based Publicly traded restaurant firmsâ⬠, Journal of Hospitality & Tourism Research, vol. 31, no. 1, pp. 19. Villalonga, B., A. 2006, How do family ownership, control and management affect firm value? Journal of Financial Economics, 80(2), 385ââ¬â418. Wahal, S. 1996, ââ¬Å"Pension Fund Activism and Firm Performanceâ⬠, Journal of Financial and Quantitative Analysis, vol. 31, no. 1, pp. 1. Wang, D. 2006, Founding family ownership and earnings quality. Journal of Accounting Research, 44(3), 619ââ¬â656. Weber, J., L. Et al. 2003. Family Inc.. Business Week, 3857, 100ââ¬â110. Williamson, O. 1988, Corporate Finance and Corporate Governance. Journal of Finance 43 (3): 567-591. Williamson, O. 1996, The Mechanisms of Governance. Oxford ; New York: Oxford University Press. Williamson, O.E. 1963, ââ¬Å"Managerial Discretion and Business Behaviorâ⬠, The American Economic Review, vol. 53, no. 5, pp. 1032. Williamson, O.E. 1991, ââ¬Å"Comparative Economic Organization: The Analysis of Discrete Structural Alternativesâ⬠, Administrative Science Quarterly ââ¬â LA English, vol. 36, no. 2, pp. 219. Xu, X. & Wang, Y. 1999, Ownership structure and corporate governance in Chinese stock companies. China Economic Review, 10, 75ââ¬â98. YEH, Y. H. et al. 2001, Family Control and Corporate Governance: Evidence from Taiwan. International Review of Finance, 2(1/2), pp. 21-48. Zeitun, R., A. 2012, Government Ownership, Business Risk, Financial Leverage and Corporate Performance: Evidence from GCC Countries, Corporate Ownership and Control, vol. 9 (3). Source document
Subscribe to:
Posts (Atom)