The Unknown Rebel Essay Example

The Unknown Rebel Paper On the fifth Of June 1989 a solitary Chinese man faced a line of 18 tanks in Tiananmen Square. The picture of him and his noble demonstration was communicated everywhere throughout the world as the picture to always outline one irrelevant keeps an eye on capacity to confront a for all intents and purposes relentless power. In spite everything being equal, Western Media Sources have been not able to find his actual personality so he has been named The Unknown Rebel by Time Magazine and was remembered for their rundown of 100 Most Influential People of the twentieth Century. This man is viewed as a renegade since he conflicted with the man and would not do as told by the tanks remaining before him. For the past two days there had been frightful brutality happening between understudy dissidents and the Chinese Government with occurrences of individuals being shot in the back by warriors for their master majority rules system dissents in Tiananmen square. His demonstration was inherently insubordinate in light of the fact that he disrupted the general flow of the tanks and even moved left and right with the tank to additionally hinder its way in a disobedient manner. He was even observed to get on the tank and state to the driver Why are you here? My city is in confusion as a result of you. He at that point moved down and onlookers pulled him once again into the group as he subsided into secrecy. The Chinese government is a power to be dealt with and this obscure agitator probably known about they were fit for killing as military law had been announced and thousands simply like him had been killed in the previous days. Just a genuine radical would chance his life to resist the administration and confront a line of 18 tanks. We will compose a custom exposition test on The Unknown Rebel explicitly for you for just $16.38 $13.9/page Request now We will compose a custom paper test on The Unknown Rebel explicitly for you FOR ONLY $16.38 $13.9/page Recruit Writer We will compose a custom paper test on The Unknown Rebel explicitly for you FOR ONLY $16.38 $13.9/page Recruit Writer His picture has been embraced by numerous individuals in numerous nations as a sign that each man can have any kind of effect and accomplish something significant that impacts a huge, various measure of individuals. It has been said that he was found in his wonderful second by more individuals than any time in recent memory looked at Winston Churchill, Albert Einstein and James Joyce joined. This by itself is demonstrative of the importance his one demonstration had contrasted and the lifetime accomplishments of certain men viewed as generally increasingly well known. The way that after his demonstration of resistance he wonderfully vanished into the group further adds to his picture of the radical. Nobody knows what his identity was, not to mention what befallen him after that day. After a year, when an American journalist asked Chinese pioneer Jiang Zemin what had befallen the obscure agitator and he answered I think never slaughtered. This secret that encompasses the obscure renegade is one credit that adds to his picture as a radical because of the picture that has been made around his namelessness. Taking everything into account, the obscure radical of Tiananmen Square is a dissident since he has become an image for facing the large force at the danger of everything for something you have faith in.

Business Plan Greenish Farm

Question: Portray about the Company Description, Industry Analysis, Product, Strategy and Implementation of Greenish Farm? Answer: Official Summary Greenish Farm is a notable business in Zambia which is exceptionally occupied with giving top quality item to the individuals from past numerous years. The organization has chosen to enter into item showcase for the little scope ranchers with the goal that an attainable market can be made to put their item and get accurate incentive for the item. The present strategy has featured diverse situation, for example, industry investigation and market examination to comprehend the state of ware showcase in Ndola, Zambia. Besides, Porters five powers model has been utilized to direct the business investigation and have a reasonable picture. Aside from that, advertise division and target showcase has been illustrated to comprehend which famers gathering will profit by the item showcase and furthermore which class of target ranchers must be engaged upon. Further, the examination incorporates promoting plan, activity plan and furthermore the board rundown to quickly clarify the proposed marketa ble strategy. Finally, money related arrangement has been examined to realize how much advantage will be produced from the product showcase. 1. Organization Description Greenish Farm is a Zambian put together business which is situated with respect to a conspicuous commercial center whose goal is to convey high caliber, new, wholesome and solid horticultural item to the individuals. The organization supplies item to all the close and remote territories of Zambia. The Greenish Farm is claimed by two Zambian accomplices that are Akamonwa and Bawa. Besides, the individuals are all around familiar with the organization and its activity. Be that as it may, in the course of recent years, the organization has seen that ranchers don't get reasonable incentive according to the desire and because of that they enlisted decrease in their deals and pay. In this way, it is influencing their development and item showcasing. Aside from that being stated, the quantities of contenders have risen which is one of the reason that little scope ranchers can't get together their normal degree of execution. In this way, so as to keep up their market top and client circle, t he organization has chosen to enter into the field of items showcase with the goal that best item can be conveyed to the clients and better worth can be given to little scope rancher (Baligh, 2007). Along these lines, Greenish Farm will be creating item advertise for ranchers to sell their item with the goal that best quality homestead item can be exchanged into the products showcase. 1.1 Objectives of Greenish Farm To increase better market esteem and acquire anticipated that benefit should little scope rancher To give quality item administration to clients To produce deals of approx ZWM on every business day of consistently. To hold buyers for inducing rehash buy To consistently update gracefully chain process 1.2 Mission of Greenish Farm The top need crucial Greenish Farm is to exchange agrarian items in wares market to create attractive pay and benefits for ranchers. In addition, there prime significance is convey prevalent client support and give top notch rich item to increasing successful client base. 2. Industry Analysis The wares advertise in Zambia in setting to rural items or other hard products is very better which causes diverse business gatherings to gain adequate profit from the market. It is obvious from the early distributed report that in most recent five years, the business that exchanges essential items has enlisted critical development up to approx 30% which causes them to get better an incentive for their item from ware showcase (Bird, 2010). Accordingly, it gives a viable chance to the little scope rancher to showcase their item in the ware advertise and get right an incentive for their item (Barringer, 2010). Besides, the market is skilled in securing the business during expansion or financial vulnerability. Subsequently, it is examined that item advertise is doable in Zambia and ranchers that can't put their item firmly into the market can increase huge profit by the specific market. A long time Development in Commodity Market 1999 31.8% 2002 34.4% 2005 38.0% 2008 43.0% 2011 44.5% Table 1: Growth in Commodity Market in Zambia Figure 1: Commodity Market Then again, so as to have better comprehension of the business, Porters Five Forces Model will be compelling and much clear picture can be drawn. Industry Rivalry: The extreme and intense rivalry in the business can make difficulties the possibility of the business (Clarke, 2010). The organization, Greenish Farm can confront huge rivalry from different organizations that are working in ware advertise with hard wares, for example, oil, gold, elastic, and so on. Besides, Greenish Farm can likewise experience issues from existing firms that are as of now managing in rural items. In any case, as the organization will exchange item which is developed hydroponically will assist them with gaining profit and produce palatable benefit (Dess, 2012). In this manner, so as to increase right cost for item, the organization should exchange top notch item. Danger of substitutes: The substitute item can present noteworthy difficulties that can influence the activity of Greenish Farm in the proposed showcase. The nearness of natural horticultural items in the market can have genuine effect on the profit of the organization and the organization will most likely be unable to build their business (Drummond et al. 2012). In this way, the organization should charge sensible cost and giving top notch item unequaled. Bartering intensity of purchasers: As the organization has chosen to give items which will be created hydroponically, in this manner, purchasers might not have such capacity to haggle on cost on the hydroponically delivered agribusiness items (Finch, 2010). Along these lines, Greenish Farm can increase powerful cost for their items and can get more advantageous benefits. Haggling intensity of providers: It is clear that in the event that the provider has the ability to deal, at that point they can remove most extreme income of the business that can decay the benefit level. In the given circumstance, unmistakably the organization will develop their item by their own along these lines; there isn't a lot of impact of providers on the organization. Nonetheless, the organization may expect providers to exchange the item ware showcase (Furnham, 2012). Accordingly, solid holding must be worked with the providers. Danger of new participants: The item showcase has given extraordinary chance to the little scope ranch to go into the market and get advantage from speculation (Goksoy and Ozsoy, 2007). In this manner, it tends to be danger for Greenish Farm to work in fruitful manner. Along these lines, the organization needs to give quality item constantly and in standard structure with the goal that they hold their steadfast clients and customers. 3. Items Greenish Farm will bargain in the vegetable items, for example, tomatoes, cucumbers and different results of ranchers. Additionally, the items will be exchanged that are developed hydroponically or customarily with the goal that quality items can be provided to clients (Hajro, 2012). Aside from that, developing item under innovative passages will help the organization in increasing longer and quicker development and collect work can be diminished by approx 75% and furthermore gather time can likewise be declined. In this way, the organization can viably exchange the item showcase with their particular items. 4. Market Analysis The proprietor of Greenish Farm has chosen to infiltrate in the market of Ndola, Zambia according to the supposition; the organization will have the option to guarantee noteworthy profit and can increase right an incentive for their item (Heagney, 2012). In addition, the chose area gives viable condition to exchanging item and the organization can create expected client base and customers for their agribusiness items. Further, the market holds retailers, for example, Veg Express and Veg Center. Consequently, organization can gracefully their item to these retailers and other accessible grocery stores. 4.1 Market Segmentation The significant fragment that will guarantee best an incentive to Greenish Farm will be Veg Center and retail outlets and different shops that fall inside 50 miles of the chose area. In this manner, the organization will have the option to expand their deals with noteworthy edge. Year 1 Year 2 Year 3 Year 4 Year 5 Potential Clients Development in deals Veg Center 50 63 79 99 124 17% Retail Outlets 100 125 156 195 244 25% Different Shops 20 22 24 26 29 10% Table 2: Market Analysis Figure 2: Growth in deals The other market sections that will be viewed as are oriental vegetable markets that require both semi-natural and natural vegetables, processors of vegetable, product and ranchers market and side of the road stands. In this way, it will assist the organization with marketing their item and accepting right an incentive from the market and from the customers. 4.2 Target Market The ideal objective of the organization will be little scope ranchers of country zones. The other objective market that will assist the Greenish Farm with generating important profit and cost for their items is send out business sectors and retail outlets in the chose advertise (Hughes, 2012). In this way, organization can increase high profit by the ware market and it can build the estimation of the organization and in future progressively number of clients may want to manage Greenish Farm for the item. 5. Technique and Implementation The technique of the Greenish Farm is to procure benefit by accepting right estimation of the item provided in the product advertise. Further, the organization will use progressed farming innovation so quality creation can be produced and it will help in recei

An old mans thought of school

An old man’s thought of school DID YOU KNOW? The famous Pioneer Zephyr trains of the 1940s were named because a railway president wanted his trains to be considered the last word in transportation. He had originally told his coworkers to literally look up the last word in the dictionary, but decided that zymurgy was not a good name for a train. Yo, Im in grad school. Hows that going? Well, not too bad. In a way, I cant seem to ever get away from MIT. Half the books I use in my graduate classes were written by my MIT professors. During the first week of my product design and development class last semester, we were assigned a reading about all-around drug delivery rock star and MIT professor Bob Langer. The professor asked if anybody in the class knew who Bob Langer was. Half the hands in the room shot up, and a bunch of awestruck students breathlessly explained, OH, he came to my school once to give a lecture, and I could totally tell that everything in this article is totally true, like when he was talking about polymer synthesis, I could really hear his attitudes toward technology licensing and start-up companies. I was going to say, Yeah, I know 5 people who work in Langer Lab, and Ive worked with the MIT Technology Licensing Office. But I didnt say anything, because I try not to be a total jerk all the time. I mean, not all the time. Today I was looking at an old blog entry that I had started four months ago, and I discovered that I actually typed this: So, yo, let me say this unequivocally. Even if you graduate MIT with 72,000 credits in four years and publish 100 papers in Nature, start-up a biofuels company, write a cello concerto that is performed by MITSO, and obtain an Erdos number of 2, all of this in 4 years at MIT, if you ever ask yourself, Do I have time for a girlfriend? then YOU ARE DOING SOMETHING WRONG. Man, what a total jerk. That rather harsh quotation comes from a blog entry entitled Dont let it control you!, which Ive been trying unsuccessfully to write for the past six months. That title, in turn, comes from Professor Xs final line in X3, one of my favorite movie moments of all time. I was considering keeping the title when composing this new blog entry, but I decided that Walt Whitman would be an acceptable substitute. Because lets get this straight. I am an old man now. There are undergrads working in my lab, and I introduce myself to them, and they say, Oh, youre not an undergrad, right? Because you look so much older. When I was studying reaction kinetics on my plane ride back to the bay area, the flight attendant stopped while delivering my second cup of black coffee to remark, Are you a grad student? I could never understand any of that math stuff! (thats okay, Im bad at writing and being nice to people that I dont know). I dont even get carded when I buy alcohol anymore. I mean, Im guessing that I wouldnt. Granted, most of it probably has to do with the sweet beard that Ive grown. A bunch of the ChemEs decided to grow beards as part of a male bonding ritual before prelim exams in January. I just liked mine, so I decided to keep it for this month. Except for getting food caught in it, its been working out pretty well. You knew I couldnt get through my last ever entry on MITblogs without posting a picture of myself, didnt you? But what makes this old man think of school today? Well, Ive been systematically trying to remove myself from most of my MIT mailing lists. I took myself off my old floors mailing list the other day after discussion veered away from Apple Bake domination and onto discussions of which Star Wars movies they were going to watch on a given night. Which, I mean, is fun, but not really that important to my life anymore. Whereas apple pies baked 4,000 miles from me are totally fascinating in my inbox. Anyway, I actually managed to finally remove myself from the MIT Hillel list, somehow. Im working on getting off of MTG. But I keep myself on the MITblog e-mail list, just because were awesome. So today I woke up to the following e-mail on the MITblog list, from one of its younger contributors: Turns out that the aforementioned early showing of 21 is at noonsince Im not quite willing to skip class just to see a movie, even one about MIT, I will neither be going nor blogging. If by some black magic one of you guys also has the opportunity to see it, I retract my dibsbut I really would like to blog about it when it comes out for real on March 28 (during Spring Break). Sorry for the extra emails. ^_^ Apparently MIT is sponsoring a sneak preview of 21, the Bringing Down the House movie adaption, this week. As an old man, thinking of school, I was concerned that one of MITs rising young stars was not quite willing to skip class just to see a movie, even one about MIT. So I wrote back and linked to some entries that provided examples of me skipping school to do awesome things. The response? Apparently the blogger has a HASS paper due at 3 PM that day, and is therefore understandably nervous about going to see a movie at noon. The e-mail concluded, probably half-jokingly, Youre a bad influence, Sam Maurer. I was eating a salad comprised of spinach, walnuts, grapes, peas, and goat cheese in a balsamic vinaigrette, which is clearly what have must inspired the following burst of eloquence from me. Hokay, so HASS papers are important. But unless youre planning to still be writing the essay at noon on the day its due (which, I mean, I probably would be), seriously, go to the movie. Plan to go, and then if your paper doesnt work out on time, then skip the movie. Im a good influence. I didnt realize until my senior year that it was okay to skip classes for reasons other than total exhaustion. The sooner you figure this out, the happier your MIT experience will be. I mean, within reason. Dont skip all your 2.007 labs to go tanning on the esplanade, but if the choice is between awesome movie preview or ozonolysis, dont pick ozonolysis. I was actually going to write my last MITblog entry on this topic, but I got bored. You can still see the draft; its called Dont let it control you! And I read it back over, and I realized that this was exactly what Id been trying to say for the past six months. I thought Dont let it control you! would be a good message to conclude my MITblogging career forever. But, you know, youve got to be original. And plus, that entry was getting too convoluted with passive/aggressive attacks at other blogs Id been reading, not neglecting your girlfriend, how I was a pudgy awkward kid in high school, and a symbolic 6.003 add/drop form that I hung on the inside of the door of my dorm room. I feel like this one has worked out a lot better. Its a little bit friendlier, and I feel like it just generally is more cohesive and has more organic unity. Which, for me, is saying a lot. So if Im gonna gather my youthful memories and blooms, as Walt Whitman suggests, and if Im going to leave you with one message to summarize the most important thing I learned during my four years at MIT, its going to be this: Dont pick ozonolysis. Dont ever pick ozonolysis.

Benefits Of Gambling And Nevada - 1674 Words

Gambling has been a form of entertainment since ancient history. Games of skill and chance using an early form of playing cards can be dated as early as 2300 B.C. and for thousands of years has evolved to become one of the most lucrative forms of business. In the year 1931 a bill was introduced to legalize gambling and Nevada s first casino resort, the Meadows opened. By December 1946 brought a new form of casino gaming with the Flamingo Hotel as the first modern casino in Las Vegas offering, luxurious rooms, nightclub, golf course, and a fine dining restaurant. Caesars Entertainment Inc. is a perfect example of a modern casino that has evolved to become the largest casino company in the world and contributed in the revolution of the†¦show more content†¦Arthur Goldberg, Park Place Entertainments chief executive, stated in an article written in the New York Times â€Å"By acquiring the Caesars brand name and related customer data base, we have plan to heavily cross-market between our destination resorts. This will boost revenues and expand the markets where we operate.† (CITE) Arthur Goldberg planned to expand on what Starwood had started which, made Park Place the largest gaming company before the millenium. The combined properties had the most hotel rooms in the industry and an estimated 2 million square feet of gaming space and net revenues reaching $3.2 billion dollars in 1999. The loss of Arthur Goldberg in October of 2000 was the epitome of the saying â€Å"all good things come to an end† the company had been doing extremely well with sales reaching $4.9 billion and the industry started to see significant growth. Days after Goldbergs passing Thomas Gallagher, a former Hilton Hotels exec,was chosen to be Park Place’s CEO. During Gallaghers tenure Park Place Entertainment hit a few rough patches with shares falling 2 consecutive years valuing 45% (CITE), and the economic effects of terrorist attacks during 9/11 did not contri bute much to the financial situation that the company was experiencing. Despite all the issues Gallagher did his best to steer the company in the right direction attempting to remain consistentShow MoreRelatedShould Sports Be Legalized?978 Words   |  4 PagesSome jobs would also be created if online gambling was legalized. 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The other locations are fairly recent and many other local governments are considering legalizing gambling in their citiesRead MoreNevadas Winnings against Protesting a Lottery800 Words   |  4 Pagesthe option of Nevada having a lottery has been enticing for many. Although lotteries might provide extra revenue for school, when one takes a deeper look into the facts, everyone loses. On average Nevadas casinos profit at about 11 billion a year. People come from all over the states and even the world to gamble in Nevada. 87% of Nevadas tourists specifically come to play the slot machines, and on average Nevada makes around 9 billion dollars a year due to the slots. If Nevada had a lotteryRead MoreIs Lottery a Good Idea1189 Words   |  5 PagesIs a Gambling a Good Idea? Definition of Gambling Merriam-Webster’s Learners Dictionary defined gambling as â€Å"playing a game in which you can win or lose money or possessions† (Merriam). 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People can gamble throughout a variety of fashions, such as virtual gambling on tablets or smartphones, scratchRead MoreGambling Research Paper1427 Words   |  6 Pages â€Å"I play blackjack. I’m not addicted to gambling, I’m addicted to sitting in a semi-circle.† by Mitch Hedberg. Are you a tax payer? Do you believe you pay too much in taxes? Well the amount of money that casinos and gambling bring into a state in taxes is a phenomenal amount. Thi s could possible help lower your taxes and save you money. First, we are going to discuss what I believe to be the problem. Then, I would like to share with you what I think is the cause. Finally, I am going to inform youRead MoreGambling In Texas Essay2103 Words   |  9 PagespIn 1995, Texas proposed a referendum for the legalization of casino gambling. However, perhaps due to Texas extreme conservatism, many Texans opposed the idea. Since then, other states have joined Nevada to allow unlimited gambling in their state. From record economic growth to billions of revenue dollars for state expenditures, these states continue to reap from their bold decision while Texas remains watching from the sidelines. Rather than enjoying the same profits as its fellow statesRead More gambling Essay858 Words   |  4 Pagesincredible growth in the gambling industry. Twenty years ago if a person wanted to gamble they had to go to Nevada. Nowadays, there are only six states in which no form of legalized gambling exists. Proponents of the gambling industry feel that this growth is a good thing a nd that it is helping the national economy. However, there are many opponents that feel that gambling is hurting families and society. Indeed, there needs to be a limit to the growth of the gambling industry, although, this

Ethical Ethics And Ethical Behavior - 1117 Words

ethical behavior is the guidelines of behavior perceived in respect to a specific class of human activities or a specific group, society, and culture. If you are ethical, it means you are morally right. If you are unethical, then you are morally wrong. However, how do we determine what is exactly right or wrong? Do we know if we are ethical or unethical? I believe that how people define â€Å"ethical behavior† or what people think constitutes ethical can be vary depending on culture we grow up with and the environment we grow up in. I don t believe that we are able to know whether our actions are moral. There have been incredible changes in the previous decade, however a significant number of these have prompted contrasting moral assessments. Numerous individuals have swung to the law for the answers and other to their religion. Since there are such a large number of sentiments it gets to be harder to discover one that you can by and by concur with, and once you do, you discov er an assessment you concur with you are not ready to know whether it is still the right conclusion. It has turned out to be hard in our age to discover a feeling that can be demonstrated totally wrong, on account of this we can t know whether our conduct is moral. According to Kant, moral truths are not got from a position of great authority through heavenly disclosure or motivation. 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Conducting social research, without proper use knowledge pertaining to the code of conduct is violating human rightsRead MoreEthics : Ethical And Unethical Behavior Essay1183 Words   |  5 PagesWebster Dictionary ethics are â€Å"rules of behavior based on ideas about what is morally good and bad; an area of study that deals with ideas about what is good and bad behavior: a branch of philosophy dealing with what is morally right or wrong†. There is more to ethics than the simple definition. To understand ethics one must define what is ethical and unethical behavior in the workplace and it importance, prescriptive approaches, psychological approaches, whistle-blowers, and ethics as organizationalRead MoreEthical Dilemm Ethics And Behavior Essay1578 Words   |  7 PagesEthical Dilemma’s in The Work Place Companies place a high amount of importance on the ethics and behavior in the workplace. 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Analysis of a Mapping Programme Neogeography Free Essays

Introduction Neogeography, literally intending â€Å"new geography† is basically a â€Å"do-it-yourself† function scheduling, which is going progressively popular and powerful today ( Wikipedia.org ) . In the past, making maps online was left to the GIS specializers who knew the art and linguistic communication of GIS ( C. We will write a custom essay sample on Analysis of a Mapping Programme: Neogeography or any similar topic only for you Order Now Morais, 2007 ) . Neogeography, on the other manus can be used by virtually anyone with no expertness or makings required in function, because of this some respect neogeography to be a subset of GIS, while others consider neogeography to hold killed GIS ( A. Turner, 2006 ) . Neogeography is fun as one can make things such as portion the location of their first buss, or vacation, ne’er once more will one battle to retrieve where a exposure was taken ( A. Turner, 2006 ) . In a nutshell, neogeography is all about people utilizing and making their ain maps, sharing information and locations with household and friends every bit good as geotagging images of vacations, while obtaining utile penetration of that location. Neogeography Geocoding is of import in neogeography as they provide co-ordinates of a location, which can so be processed ( A. Turner, 2006 ) . For illustration, when users post a image to applications such as Facebook or Instagram, it besides lets them label the location where the image was taken and therefore, cognition is gained in this manner. Some illustrations of neogeography is Google Maps, Google Earth, Yelp, SaveMe999, OneMap, OpenStreetMap, UCrime among others ( A. Coote and L. Rackham, 2008 ) . While each of these have their utility, neogeography besides comes with the power to destruct. Neogeography-hit or lose? The advantages of neogeography is legion and each neogeography application has its ain specific power that makes a user’s life easier. For illustration, the SaveMe999 application designed in Malaysia, specifically to turn to the handicapped community particularly the deaf and deaf-and-dumb person ( R. Anas, 2013 ) . Undoubtedly, this is a great advantage to the handicapped citizens, as SaveMe999 uses â€Å"GPS information in the users’ smartphone to place the caller’s location† when they call and therefore assist can be sent to the right reference as location is one of the most of import facets in directing an exigency response ( R. Anas, 2013 ) . Disabled people can hence be more independent, every bit good as feel more safe and secure. Google Maps and Google Earth is another great illustration of neogeography. Google Maps is utile such that it shows waies from one location to another, either by auto, motorcycle or walking by demoing the relevant street maps. It besides shows the expected clip that it will take the user to make their finish and one of the most utile characteristic of the Google map is that it can be viewed in three different manners: terrain, a normal map position and orbiter position ( M. Cornock, 2011 ) . One can besides custom-make their ain maps in Google maps which can be saved, loaded or printed out at any clip ( L. Storm, 2007 ) . Google Maps, nevertheless, promotes communicating isolation, as before Google Maps verbal waies was an of import accomplishment to possess and understand but with the enlargement and turning popularity of Google Maps verbal waies are deceasing out ( L.Storm, 2007 ) . Google Earth meanwhile, shows orbiter and aerial imagination of the specified location in 3D. This is used for many positive effects. For illustration, the World Wide Fund uses it to protect the Sumatran Liberation Tigers of Tamil Eelams, alleviation workers uses it for crisis response after natural catastrophe, and it is besides used for environmental issues such as pollution. Possibly, the finest illustration of how Google Maps and Google Earth came to assist an environmental issue is the instance of the Appalachian Mountaintop remotion, in which excavation companies removed the tops of mountains in order to mine for coal. By utilizing Google Earth and Google Maps conservationists were able to analyze the graduated table of a really dramatic environmental job and was besides able to pass on this issue to the people in the community who so took action to protect their mountains ( Google Earth Outreach, 2010 ) . â€Å"In the 10 yearss following the release of the Appalachian Mountaintop Removal bed in Google Earth, more than 13,000 people signed an on-line request to halt mountaintop removal† ( Google Earth Outreach, 2010 ) . Therefore, it can be seen how Google Map and Google Earth is used for positive impacts. However, Google Earth and Google maps can be misused. One of the most concerning factors is privacy and security, the fact that anyone can happen anything is rather dismaying particularly for safety grounds. Other disadvantage of Google Earth and Google Map include ; inaccuracy of information, unavailability as users need right Personal computer demands and cyberspace, less developed states are ill represented every bit good ( S. Myer, 2010 ) . Furthermore, satellite imagination can capture images that are non delighting to the oculus such as force or war. UCrime.com is a free online service that provides easy to read offense maps and have automatic qui vives for people that attend universities or montages ( A. Coote and L. Rackman, 2008 ) .Users so receive immediate electronic mails if a offense has occurred near a selected college or university and in this manner there is public safety, besides users can supply tips and thoughts to assist work out offense in the country in which they operate in ( A. Coote and L. Rackman, 2008 ) . Some general advantages neogeography has to a user are ; it helps users locate topographic points based on other peoples stations, it besides increases consciousness of geographics since anyone can larn how to utilize and make their ain maps, moreover, neogeography allows everyone to lend to the development of the digital universe and immense sums of informations and information is made available by users ( A. Schuyler, 2009 ) . Using neogeography saves clip and money for concerns and organisations and eventually, possibly the greatest advantage of neogeography is that anyone can make maps, they do non necessitate to hold makings or be a professional in function. On the other manus, there are besides several disadvantages in neogeography and one of the biggest menace of neogeography is its informations quality: its truth, completeness, consistence, and quality confidence ( A. Coote and L. Rackham, 2008 ) . Since users create the maps the information might be wrong and undependable, this can severe effects, for illustration when be aftering a holiday. Besides, when making the maps the Godheads can either add excessively much unneeded information or possibly excessively small, lending to the deficiency of completeness of the information ( A. Coote and L. Rackham, 2008 ) . Neogeographic datasets makes small mention to quality confidence, some maps created utilizing neogeography have no 1 to supervise the quality and dependability of the maps ( A. Coote and L. Rackham, 2008 ) . Security and privateness as discussed before is another disadvantage, as sometimes it so happens that when users create the maps, they may roll up informations from privat e locations which the proprietors might dislike. Finally, the enlargement of the digital universe could intend less geographic expedition in the existent universe, people might worsen in sing things foremost manus as they can research topographic points online in neogeography and therefore, people may bit by bit go stray from the existent universe. Decision In decision, neogeography, if non exploited helps us a great trade and the hereafter of neogeography is in our custodies and we have a opportunity to utilize it or misapply that power. Reference List Andrew Coote and Les Rackham. ( 2008 ) . Neogeography data quality-is it an issue? [ ONLINE ] Available at: hypertext transfer protocol: //www.consultingwhere.com/wpcontent/uploads/resources/Neogeography+Data+Quality+-+is+it+an+issue+-+V1_1.pdf. [ Accessed 28ThursdayFebruary 15 ] Andrew J. Turner. ( 2006 ) Introduction to Neogeography. O’Reilly Media, Inc. pp. 2 Caitlin Dempsey Morais. 2007. Neogeography. [ ONLINE ] Available at: hypertext transfer protocol: //www.gislounge.com/neogeography/.[ Accessed 03 March 15 ] . Earth Outreach. ( 2009 ) . Appalachian Mountaintop Removal in Google Earth A ; Maps. [ Online Video ] . 07 May 2009. Available from: hypertext transfer protocol: //www.youtube.com/watch? v=aiSzOiGFa-0.[ Accessed: 19 February 15 ] . Google Outreach. 2010. Appalachian Voices. [ ONLINE ] Available at: hypertext transfer protocol: //www.google.co.za/earth/outreach/stories/appvoices.html. [ Accessed 19 February 15 ] . Laurel Storm. 2011. Disadvantages A ; Advantages of Using Google Maps Website. [ ONLINE ] Available at: hypertext transfer protocol: //science.opposingviews.com/disadvantages-advantages-using-google-maps-website-1538.html. [ Accessed 04 March 15 ] . Rozinah Anas. ( 2013 ) . SAVEME999 Application-Asia Geospatial Forum. [ ONLINE ] Available at: www.asiageospatialforum.org/2013/pdf/Rozinah % 20Anas.pps. [ Accessed 27ThursdayMarch ] . How to cite Analysis of a Mapping Programme: Neogeography, Essay examples

Market Structures in the Australian Economy- MyAssignmenthelp.com

Question: Discuss about theMarket Structures in the Australian Economy. Answer: Introduction The diversity of the Australian economy is eminently presented in terms of the existing market structures. In the modern day, there are scores of firms that have characteristics of monopoly, duopoly, oligopoly and the monopolistic competition. Beforehand, understanding of the manner in which market structures have been set up in the Australian economy calls for a vital exploration of their existence. So first of all monopoly indicates a market structure that is averse with few a dominant producer who makes all decisions involving the goods and services in the economy. A monopolist is therefore able to make profits both in the long and short run. The service industry in Australia is particularly rife with the presence of monopoly particularly the telecommunication and the banking industries where there are only four dominant firms that control a large proportion of the market. When relatively smaller firms exhibit a huge market dominance visibly indicated by the presence of tough restrictions for the entry and exit of firms in the market then that implies oligopoly. A common distinct feature that oligopolistic firms have is the presence of a kinked demand curve which is indicative of a common price system for the overall achievement of a greater output. On the other hand, monopolistic competition is augmented by the basis of many firms which have differentiated products in terms of sorting, offering after sales services and branding (Leigh Triggs, 2017). In this market structure, there a lot of emphasis on advertising in order to capture a bigger market share. While these market structures are generally important for increasing competition in the industry which ensures that consumers are able to get a better quality and service delivery, it has also raised concern from the government as well as consumer protection societies. This has raised their eyebrows because most of the firms that accentuate these market structures are particularly taking an advantage of their strong market presence to exploit innocent customers. Furthermore, the governments concern is centered on the market alliances which are apparently jeopardizing quality as well as the stability in the market. In the long run, it will likely cause chaos and eventually weaken the economy. Market Structure: Economic Analysis This type of market structure is developed in terms of providing room for only a number of firms which have control in the market. Distinctly, products generally exhibit a high degree of differentiation. This implies that there is a sense of the ability of the firms to establish an edge over others due to a higher chance for collusion agreements (Simshauser, and Whish-Wilson, 2017). In this case, firms will often team up to restructure into a very bigger firm. This then have a bigger market share than the rest of them. Despite this eventuality having a stronger sense of monopoly, it also signifies the oligopolistic competition due to the presence of a lot of these firms even in the event that collusion has taken place (Kitney White, 2013). Within the same scheme, it pays homage to the duopoly. Duopoly is primarily an offshoot of an oligopolistic structure. It is based on a similar structure of its parent structure however much duopoly only has two firms that have a dominant presence in the market. Essentially, there presence is motivated more by the need to compete for a greater output. It therefore means that a decision that is made by one firm has bigger influence on the rest of them and likely to result into a series of similar decisions. This will then have a bigger impact on the manner that the products will be sold in the market as a result. The rest of the firms will follow this move hence making a general impact on the demand and supply of goods and services in the market. The concept of elasticity is well accentuated in this market structure on the producers more than it is felt by the consumers. Key producers in Dulux, Brigdestone and Dunlop have put in mechanisms such that a move by one of them will result into a sequences of the same across the market which eventually affects the demand and supply of the tyres in the industry. The aforementioned firms are chiefly similar by the manner in which they deal with the same products. A key feature is that the aggregate supply and the aggregate demand are established by the undertaking an intensive advertising initiative. This may include a tailor-made branding meant to ignite consumer interest. A monopolist on his/her part is able to ensure a blanket control of the market through determination of prices. That means, maximization of the output can be achieved both in the short and long run. Nonetheless, three key aspects have to remain in play in the quest for such output maximization. They include the Marginal Cost (MC), Marginal Revenue (MR) and the Average Revenue (AR). For output to be maximized, these three have to remain central in the market. For instance, the Average Revenue is represented as the market demand. The relationship of the quantity demanded and the Marginal Revenue is established by the value attached to the MR. for instance, a positive MR shows that there is an increasing revenue with an increase in the quantity demanded while a negative MR alludes to a decreasing revenue with a decreasing quantity demanded. Firms will usually show their intent to produce maximum output in a point where the MR curve equals the MR curve. At this point, Revenue is taken as the function of Output (Daepali, 2016). Monopolistic competition is particularly different of the all the market structures owing to its similar but differentiated products which comes in the form of sorting and branding. The presence of similarity through products that are sold in the market, means that firms engage in scores of activities that such advertising to get an edge in the market. The concept of elasticity plays a key role in creating this competitive edge through sensitivity of products in the market as expressed by consumers (Kollmorgen, 2015). In this regard, consumers will often opt for cheaper products, those that are advertised more as well. The diversity of the Australian economy is particularly reflected in its market share of monopolies. Comparing the top three Australian sectors with the US firms reveals extensively different statistics. The United States has 10%, 26% and 31% in the Liquor industry, Commercial banking and Supermarkets respectively. On the other hand, the Australian economy has 78%, 94% and 91% respectively. The conclusion is that the Australian economy has a very strong monopoly presence than the US economy. A major concern by the Australian government due to the presence of this is that monopolistic competition is likely to forge an increment in the market returns on capital while the downside is that it could also stifle economic growth. Monopolies particularly are deterrent to diversification as well and killing competition. Conclusion In essence, the rife presence of diverse market structures in the Australian market in terms of the monopolies, monopolistic competition, oligopolies and duopolies may not be concluded as a cause of a rise in the inequalities but plays a bigger role. Averting this calls for radical policy implementation. In other words, anti-competitive behavior and consumer rip-offs must be removed in the market. Furthermore, the Australian Competition and Consumer Commission must have a bigger budgetary allocation so that it proceeds with investigations of conduct by unscrupulous business people in a bid to have all them out of the system. It is only through this that healthy competition can be spearheaded. References Kitney, D., White, A. (2013). We are an oligopoly economy: Robb. Australian Business Review. Retrieved from: https://www.theaustralian.com.au/business/companies/we-are-an-oligopoly-economy-robb/news-story/606fcf2f0e789689d39fd40f19b8a1e9 Daepali, P. (2015). Monopoly in a Perfectly Competitive Market. Retrieved from: https://www.economicsdiscussion.net/monopoly/monopoly-in-a-perfectly-competitive-market-with-diagram/16454 Kollmorgen, A. (2016). Squeezing out the competition. Market share Australia. https://www.choice.com.au/shopping/everyday-shopping/supermarkets/articles/market-concentration Simshauser, P. and Whish-Wilson, P. (2017). Price discrimination in Australia's retail electricity markets: An analysis of Victoria Southeast Queensland.Energy Economics,62, pp. 92-103. Leigh, A., Triggs, A. (2017). It's Time To Put Markets Ahead Of Monopolies, Huffington Post. Retrieved from: https://www.huffingtonpost.com.au/andrew-leigh/its-time-to-put-markets-ahead-of-monopolies/

Best Private Schools Offering Summer Experiences

Best Private Schools Offering Summer Experiences Many folks hear the words summer camp and think of living in cabins for a month, swimming in lakes, and participating all kinds of outdoor activities, like archery and ropes courses. Rarely does the phrase summer camp make someone think about an opportunity to prepare for the upcoming school year. ​ On the other hand, many folks hear the words summer school and  think of the stereotypical student who failed a class or needs more credits to graduate. Rarely does the phrase summer school make someone think of a positive summer camp-style experience. What if we told you theres a middle ground? A summer experience thats both fun and educational? Its real. And some of the best private schools in the country are offering students unique educational opportunities that are way more than just your typical classroom experience.   Lets look at a few of the  unexpected opportunities  that you might find at a private schools summer program. Travel the World Summer camp doesnt have to be  limited to only one campsite. Some schools offer summer travel experiences, taking students around the world to experience life away from home. Proctor Academy in New Hampshire offers a summer service opportunity, which takes students to places like Guatemala for two-week sessions. See the World From 30,000 Feet in the Air Thats right, aspiring aviators can attend a summer camp at Randolph-Macon School in Virginia. Students get the chance to participate in a highly specialized program  leading towards taking a solo flight in a Cessna 172.   Space Camp and Sustainability Sustainability is a popular topic at private schools  and is one that has led to several summer camp programs designed to educate students and get them thinking about how we can better serve the planet Earth. One such program exists at Cheshire Academy in Connecticut, which offers two different tracks from which students can choose for their summer study. One track focuses on the impact of humans on the earth, while the other takes a new approach to a space camp by exploring both the oceans and space. You even get to take field trips and even launch rockets - and were not just talking about small model rockets!   Learn a New Language For students looking to come to the United States for a boarding school experience, a summer camp can be a great way to master their English language skills. ELL/ESL students can often greatly benefit from these highly specialized summer classes that are often several weeks long and designed to immerse students in an English language environment. This not only helps participants to master their speaking, reading, and writing skills, but also gives them a preview of what dorm life is like, making the adjustment to boarding school in the fall a little easier. Some schools even offer an accelerated program, like New Hampton School in New Hampshire.   Get a Competitive Edge in Athletics Aspiring athletes, especially those looking to improve their skills in order to play varsity sports at private school, can benefit from a summer camp focused on athletics. Starting to participate in these camps during middle school can be a great way for high school coaches to see a student athletes drive and potential, which means building relationships with the school even before the admission season arrives. Athletic camps are available for the more novice student-athletes, as well, helping those players still learning the game to prepare to play on a sports team at a  private school for the first time. Baylor School in Tennessee offers a camp that meets the needs of both the competitive athlete and the recreational athlete.   Perfect a Creative Craft Young artists can find numerous private schools that offer creative summer camp experiences, ranging from drama and dance to music and drawing. And, some of the best private school programs even offer creative writing and literary-focused programs, as well as digital photography and animation courses. The opportunities for creative expression are endless, and the levels of experience can vary. While some schools, like the Putney School in Vermont, offer a wide variety of workshops for artists of all experience levels and interests, other schools take a more specialized approach. The Idyllwild Arts Academy in California offers intensive two-week programs as part of the  Idyllwild Arts Summer Program. These programs can sometimes help students looking to attend competitive art schools for college get a head-start on art portfolios. Try Your Hand at a Non-Traditional Trade Some schools offer incredibly unique programs, like Emma Willards Rosies Girls camp. Drawing inspiration from the fictional character Rosie the Riveter, the boarding school in New York offers girls the chance to experience what its like to work in  carpentry, automotive repair, masonry, and other non-traditional trades.

Romero Essays - English-language Films, Films, Romero, Scar Romero

Romero Essays - English-language Films, Films, Romero, Scar Romero Romero Reflection of Romero When the movie starts off, you are introduced to only a portion of the injustice that the El Salvadorians faced. The new president was supposed to be one that was elected into office. It was unimaginable to me that citizens who were on their way to vote were stopped. They were only allowed to proceed by foot. There is no way that any such think could occur here, in the United States. Its hard for me to accept that things like that actually happened, and still happen. It was time to appoint a new archbishop. The other priests elected Romero thinking that he wouldnt make any waves. This shocked me. People would actually use as criteria for archbishop whether or not they would make waves. I would think that they would want the person in that position to be strong in their beliefs. It later turned out that Romero would unpleasantly surprise them. This movie also showed a very vivid line between the rich and the poor. It was hard to believe that they all lived in the same country. The wea lthy barely even treat the poor like people. They are merely pests that they avoid at all costs. I know that in America the gap between the very rich and the very poor is wide, but there is at least some form of middle class, and the poor have the same rights as everyone else. When the guerillas started to attack the people, in the square when the people were receiving communion for instance, Romero finally stood up. It is not really the place of the Church to take a political stand, but no one else in such a powerful position was standing up for the rights of the people being oppressed. Romero went to lengths beyond what anyone expected or hoped he would go to. Unfortunately, his heroism was not greeted very well, except by the people he was defending. It just amazed me how strong he was in what he believed. It takes such courage and wit to follow through with the things that he did. I cant even fathom how hard it was to walk into that prison and walk out with a prisoner. If he had been anyone but the Archbishop, he would have been killed. I think the part that made me realize his faith the most was when he walked into the church that had been taken by the army. He just walked right in past the big man holding the gun. He started to pick up the communion even while shots were being fired. And after he left, he came back and gave communion to the crowd. It was just so touching. The people believed in him as much as he believed in what he was doing. Ive never been faced with anything near as big as the struggle that the El Salvadorians were facing. To have to live in those conditions, and to have no one be able to protect you or fight for what you believe in. It is so unimaginable to me that they had virtually no rights. It made me so sad that at the end, Romero was assassinated. It was really no surprise. Anyone that stood up for what they believed in that was opposite of what the people in power were preaching was killed. Romero was the only person in power t o stand up. He was protected for a while because of his status, but it could not protect him forever. I know that struggles like this occur in America, but on a much smaller level that no one notices. I guess that makes it hard for me to conceive of something like this actually ever happening. It makes me so sad to realize that it really did.

Human Resources Administration In Education And Schools Essay

Human Resources Administration In Education And Schools - Essay Example Strategies that can be used to create and deliver effective staff development programStaff development is a training process viewed in two dimensions. It includes in-service training program where individuals in an organization given opportunities to further their education to enable them to prepare for future positions and training is aimed to prepare individuals to be able to handle new job assignments. Staff development connotes the organization’s efforts in its program to provide the need-based training and education to its workers to enable them to become competent in handling their present or future assigned tasks.Several strategies can be used to create an effective staff development program. There are two mostly use: on the job training and assistant to training. On the job training mostly happen on the job and this method is an effective method of training. It is easiest to organize and less costly. Employees get placed in the actual work situation that makes them pro ductive. They learn by doing the real work that is the best training method for jobs that are hard to simulate or can be learned quickly by performance. With assistant to training process, a trainee studies under a master worker for a given period or until a trainee acquire necessary skillsInitiation of an effective induction process is one way that the organization can contribute to personal assimilation, as well as to the personal development, security, and need the satisfaction of each member of the organization.

Personal Epiphany Essay Example | Topics and Well Written Essays - 750 words

Personal Epiphany - Essay Example Since my destination was still an hour away, I did sit back to observe the station. To my astonishment, a group of children dressed in dirty clothes rushed into the train. Before I could realize what was happening, they started to do all sort of things – begging, singing, offering to polish the travellers’ shoes, cleaning the floor and selling knickknacks. I happened to notice a very small boy who stood out from the crowd. His grimy face camouflaged cherubic features. There were four of them in the group, but all the others dispersed as soon as I met them. I guessed they went to the other compartments, probably in search of other large-hearted people scattered in the train. The lady sitting next to me was complaining about the heat and how she failed to get a ticket in First Class A/C due to the pilgrim season. She also realized that the food served in the train was not something to her taste and was about to throw it away when the boy went near her and stretched his palm to her as his pain-filled eyes implored all those in the cabin. In a reflex action, she shoved the food packet to his hands and he went out of the train and stepped to the platform in a hurry. It seemed that he was just looking for some food and forgot the need to get something more before the train moved. As the train stayed in the station for five more minutes, I couldn’t help looking outside to see what the boy was up to. I saw him settle down near a pillar and open the packet hastily. I also saw how much he needed the food, from his slim frame and the anticipatory glee writ large on his face. At the exact moment he opened the packet, I saw an older girl like him, in tatters, approaching him and before he could do anything, she snatched the packet away from him and started to run through the platform making hysterical gestures. She laughed aloud and threw the food

Pricing Options using Binomial and Trinomial Methods

Pricing Options using Binomial and Trinomial Methods Published in the 1970s, the Black-Scholes-Merton model provided an entirely new definition for the financial option market, half a century later the Binomial tree option pricing model was published, and that is the true key that allows the option market to be generalized to the world. Based upon the Binomial model, the Trinomial option pricing model was built to reduce possible errors and persons thus expected it to be a better approach. Still how much better is the Trinomial model, and is it worth spending the time on calculations? These will be the key comparisons provided in this dissertation. The comparisons are based upon computer calculating time used, and approximation error. An illustrative example is used to build the data base for further comparison of the convergence speed of these two models. All the values are calculated using the Matlab program and Casio calculators in order to provide examples of the assumption that the Trinomial option pricing model is a better model in reducing the approximation error, but takes much longer than the Binomial tree model to get the results. Chapter 1 introduction The emergence of financial derivatives in the 1970s marked a highly significant and exciting event in the history of finance. Options trading began in the United States and European markets in the late eighteenth century, and over the last 20 years, options played a key role in all financial derivatives. The option price was an old question for the financial world. Back in the 1900s Louis Bachelier published his academic dissertation ThÃÆ' ©orie de la speculation (Theory of Speculation), which became known by the public as the milestone of modern finance. The random walk theory, which built a random model of the stock prices changing pattern and how it follows in the stock market, was first applied in his paper. In 1964, Paul Samuelson (Nobel Prize in Economic Science winner) revised L.Bacheliers model, and instead of the stock price he used stock returns to eliminate the negative figures which might occur in L.Bacheliers model. Based upon this new model P.Samuelson also studied the Call Option pricing problem, and built a pricing equation for it. Although the equation was quite a beauty to watch, it could not be used in real world dealings since two of the main factors depended upon the investors personal predilection. Futures and options are traded actively on many exchanges throughout the world. Before any certain systematization models of the option had been created it was impossible for people to evaluate any kind of option price in a common way. Any approximations of the price based traders personal experience would well likely result in mistakes. The only method to maximize the good of the option price would be to build a standard and systematization model and find the quantification of the option trading. This was an important event in the financial world at that time. Since the emergent of option trading, and especially of securities options trade, researchers have been busy in the studies of options pricing. In 1973, Fischer Black and Myron Scholes published The Pricing of Options and Corporate Liabilities at the University of Chicago, where they presented the famous Black-Scholes model for options pricing (B-S model for short). They derived a partial differential equation, which governs the price of the option over time. Once it has been published, the B-S model received strong responses and gained a breakthrough in this field. While some researchers conducted thorough tests on the models accuracy, many others presented various opinions on the problems in the model and expanded on them for the purposes of improvement and extension. Because of this glary partial differential equation and all of the contribution that it had created, M.Scholes and R.Merton (F.Black was deceased) both won the Nobel Prize for Economics. In 1979, Cox, Ross and Rubinstein published a paper called Option Pricing: A Simplified Approach, and in a simple manner obtained the pricing formula using the Binomial model, which was applied widely. This is the event that really changed the option trading market because it made option trading more transparent to most traders, and advanced the improvement of the market. During the option, the trading market developed more and more different sorts of option models, with the most famous and widely used models being the European option and American option. As these two options were named, they were mainly applied in Europe and America and the main difference between the two options is when the option will be fulfilled (I will fully explain this at a later stage). The Binomial option pricing model is essentially a Binomial Tree which shows possible values that an underlying asset or stock initial stock price can take, and the resulting value of the option price at each individual stage of the asset. The main idea of the tree is constructed by assuming that the stock can only go up or down by a factor related to the length of time period, and volatility of the stock. Trinomial model was developed by Prelim Boyle in 1986; it is an adjusted and improved version of the Binomial Tree. Instead of assuming the stock can only go up or down, the Trinomial Tree allows a third choiceà ¢Ã¢â€š ¬Ã¢â‚¬ the stock remains constant. Compared to the Binomial and Trinomial tree model, the Black-Scholes model is a more mathematical and theoretical model: V = SN (d1) N (d2) (Will be explained at later stage) Although the binomial option pricing model and trinomial tree values converge on the Black-Scholes formula value as the number of time steps increases. With these two simplified methods the option pricing theory and option market became more generalized and easier for the public. With the time flows, the option market began to prevail all over the world, and therefore more and more specific different types of options were created to adapt to the disparate country. In this dissertation I will mainly study and present the relation and difference between the Black-Scholes model, the Binomial Option Pricing model and the Trinomial Tree model, in both a mathematical and financial way. Chapter 1: This chapter is mainly about the Black-Scholes models differential equation, including every valuable deduction I provide a few interesting examples to give a straight forward view of this method. Chapter 2: In this chapter I will explore the Binomial pricing model with European and American options. By presenting the formulas and equations I will study how to calculate the option price and explain some basic financial terms. At the main time I will also compare the results of the Binomial Tree model to the Black-Scholes model. Chapter 3: In this chapter I will demonstrate the Trinomial model with examples and large amount of figures by using the Matlab software. The European and American options will be compared with the Trinomial model. Chapter 4: In the last chapter in my dissertation I will look at how effectively the Trinomial tree model is improved based on the Binomial model. The Matlab code I wrote will help me process this comparison up to a million steps. This will be my thesis of this dissertation and this project. 1.1 Risk Many of the valuation and risk management principles apply across all financial options. In this section, I will first briefly introduce some basic concepts and features of risk management and financial derivatives, especially the option pricing problems. RiskUncertainty of the result The risks obtained and a persons unexpected profit is the same as bringing loss or even damage to a person. In the financial market, risk is ubiquitous with: asset risk (stock), currency risk (exchange rate): credit risk, and so on. There are two ways of facing the risks. Risk Avoidance Risk-taking The process of selecting investments with higher risk in order to profit from an anticipated price movement, is called speculation. Financial derivatives are types of risk management instruments whose payoff depends upon the behaviour of the underlying assets. The most common derivatives are forward contracts, futures and options. Forward contract: A cash market transaction in which delivery of the commodity is deferred until after the contract has been made. Although the delivery is made in the future, the price is determined  on the initial trade date. The party agreeing to buy the underlying asset in the future is called a long position, and the party agreeing to sell the asset in the future is called a short position. The value of a forward position at maturity depends upon the relationship between the delivery price (K) and the underlying price (ST) at that time. For a long position this payoff is: fT = ST à ¢Ã‹â€  K For a short position, it is: fT = K à ¢Ã‹â€  ST Forward contract is normally traded over-the counter, OTC. Futures contracts are very similar to forward contracts, except they are not exchange-traded or the contract is standardized, and thus does not have the interim partial payments due to marking to market. Before studying the Binomial Tree method, I will look at what options are. 1.2Options An option is a derivative financial instrument that gives the buyer or holder the right, but not the obligation, to buy or sell an underlying financial asset or commodity. The buyer of the option gains the right, but not the obligation, to engage in some specific transaction on the asset. An option which conveys the right to buy something is called a call option, and an option which has the right to sell is called a put option. The reference price at which the underlying may be traded is called the exercise price or strike price. Most options have an expiration date. The process of activating an option is called exercise. If the option is not exercised by the expiration date, it becomes void and worthless. The options and related concepts can be classified into the following types: 1. Exchange-traded options Exchange-traded options (also called listed options) are a class of exchange-traded derivatives. Exchange traded options have standardized contracts, and are settled through a clearing house with fulfillment guaranteed by the credit of the exchange. Since the contracts are standardized, accurate pricing models are often available. Exchange-traded options include:[4][5] stock options, commodity options, bond options and other interest rate options stock market index options or, simply, index options and options on futures contracts callable bull/bear contract 2. Over-the-counter Over-the-counter options (OTC options, also called dealer options) are traded between two private parties, and are not listed on an exchange. The terms of an OTC option are unrestricted and may be individually tailored to meet any business need. In general, at least one of the counterparties to an OTC option is a well-capitalized institution. Option types commonly traded over the counter include: Interest rate options Currency cross rate options, and Option on swaps or swaptions. 3. Option styles Some options with complex financial structures are called exotic options, and these include: Barrier option any option with the general characteristic that the underlying securitys price must pass a certain level or barrier before it can be exercised. Double barrier option-A double barrier option involves a mechanism where if either of two limit prices is crossed by the underlying, the option either can be exercised or can no longer be exercised. Cumulative Parisian barrier option -A cumulative Parisian barrier option involves a mechanism where if the total amount of time the underlying asset value has spent above or below a limit price, the option can be exercised or can no longer be exercised. Standard Parisian barrier option-A standard Parisian barrier option involves a mechanism where if the maximum amount of time the underlying asset value has spent consecutively above or below a limit price, the option can be exercised or can no longer be exercised. Binary option-A binary option pays a fixed amount or nothing at all, depending on the price of the underlying instrument at maturity. An Asian option is an option where the payoff is not determined by the underlying price at maturity but by the average underlying price over some pre-set period of time. Bermudan option an option that may be exercised only on specified dates on or before expiration. For a cleaner view, I summarized various types of options in to a table below: standard of classification Types of options Option buyers right Call option and put option Excises time of option buyers. European option and American option intrinsic value In the money options, out of the money options and at the Money options Trading place Exchange-traded options and OTC options(Over-the-counter) Structures of options exotic options and vanilla options Margin of option. Unsecured and secured options There are two main reasons why investors would use options: to reduce risk and to gain more profit such as to speculate and to hedge. These will be discussed later. There are two main types of options, one is the European option the other is American option. The European option can only be exercised on the expiry date, while the American options may be exercised at any time before or on the expiry date. Assume k is the strike price; T is the expiry date, and the payoffs Vt: Vt = (St-K) + (call option) Vt= (K-St) + (put option) In this case, S is the spot price of the underlying asset. (t=T) Next, I will discuss the option pricing problems. Options are a type of bond derivative; its price depends upon the movement of underlying assets. The change of price of underlying assets is random because it is a kind of risk asset. Once the price of underlying assets is confirmed, then the option price can be confirmed too. This is saying that at the time the price of the underlying asset is St, the option price will be Vt and there exists function V(S, t) so that Vt= (St, t). At the expiry date, the value of option VT is the payoffs. VT = (ST-K) + (call option) VT= (K-ST) + (put option) The option pricing problem is to calculate V=V(S, t), (0, V(S, T) = Especially when t=0, and let the stock price is S0, what is the premium? p=V (S0, 0) =? Therefore, the option pricing problem is a working backward problem. 1.3 Types of investors. Now, I will look at three types of people in the stock market Hedger: An individual who enters into hedging trades. Hedging is a way of reducing risk. Hedgers want to avoid exposure to adverse movements in the price of an asset. For example: A Chinese company needs to pay a British supplier one million pounds after 90days.The company is facing the risk of fluctuation of exchange rate. If there is a big exchange-rate rise, this will affect its anticipated profit because of the extra cost. If the exchange rate is 12.5 Yuan / pound. The company considers two Hedging plans in view of the probability that the exchange rate may rise. Plan 1. Buy a forward contract stated to use 12625000 Yuan to purchase one million pounds after 90days. Plan 2. Buy a call option contract stated to use 12500000 Yuan to purchase one million pounds after 90days and pay a 250000 Yuan premium (as 2%). I now list the two hedging strategies in the table below: Spot exchange rate (Yuan/pound) 90dayslater exchange rate(Yuan/pound) Without hedging Forward contract Purchase call option contract 12.5 Increase to13 13million Yuan 12,625,000 Yuan 12,750,000 Yuan Decrease to12 12million Yuan 12,625,000 Yuan 12,250,000yuan According to the statistics provided, it can be seen that there will be extra costs when the exchange rate rises if the company does not use any hedging strategies. The costs are fixed after90days if they choose the forward contract but they may miss the chance that if the exchange rate goes down, they will gain from unforeseen profit .Meanwhile the company will prevent extra costs (rise in exchange rate) and gain profits (decrease in exchange) if they choose to purchase the call options contract, but they have to pay the premium. Speculator: An individual who is taking a position in the market. Usually the individual is betting that the price of an asset will go up or that the price of an asset will go down. Options like futures provide a form of leverage. For a given investment, the use of options magnifies the financial consequences. Good outcomes become very good, while bad outcomes may cause the whole initial investment being lost. For example, assume the stock price of X at 30th of April is à ¯Ã‚ ¿Ã‚ ¡666. The stock price may go up in August, and there are two investment strategies that investors may take. Investors spend à ¯Ã‚ ¿Ã‚ ¡666000 cash on 1000 shares of stocksà ¯Ã‚ ¼Ã¢â‚¬ º Investors purchase a call option contract which ends on 22nd of August: strike price is à ¯Ã‚ ¿Ã‚ ¡680, 1000shares, assume investors paid à ¯Ã‚ ¿Ã‚ ¡39000 premium for that. We now analyze the investors investment return in two different situations. (Ignore the interest rate) Case 1.If the stock price rises up to à ¯Ã‚ ¿Ã‚ ¡730 on 22nd August. For strategy A: The investor sells stocks on 22nd August to get à ¯Ã‚ ¿Ã‚ ¡730000 in cash. Return = (730000-666000)/666000=9.6% For strategy B: The investor exercises his option and gets profit: Profit=730000-680000=à ¯Ã‚ ¿Ã‚ ¡50000 Return = (50000-39000)/39000 Case 2.If the stock price drop to à ¯Ã‚ ¿Ã‚ ¡660 instead of rise on 22nd August. Strategy A: Loss =666000-660000=à ¯Ã‚ ¿Ã‚ ¡6000 Return= (660000-666000)/666000 Strategy B: The investors profit is=0 He will lose à ¯Ã‚ ¿Ã‚ ¡39000, and the percentage loss is 100%. Arbitrageur An individual engaging in arbitrage. Arbitrage A trading strategy that takes advantage of two or more securities being mispriced relative to each other. Arbitrage opportunities cannot last for long. As arbitrageurs interfere in the market, the forces of supply and demand will bring the market back to equilibrium. Therefore, in my project most of the arguments concern financial derivatives such as option prices, and, forward contracts will be based on the assumption that no arbitrage opportunities exist. 1.4 The Black Scholes Merton model There are seven important assumptions we use to derive the Black Scholes Model: It assumes that percentage changes in the stock price in a short period of time are normally distributed. It is defined as expected return on stock per year and as volatility of the stock price per year. This assumption suggests returns on the underlying stock are normally distributed, which is reasonable for most assets that offer options. It is possible to buy and sell any amount of stock, this includes short selling. There are no transactions costs , taxes or other fees. The stock pays no dividends during the options life. There are no arbitrage opportunities. Markets are efficient and Security trading is continuous. The risk free interest rate is constant and known.(

Bangladesh Automated Cheque Processing System (Bacps)

Bangladesh Bank Head Office, Dhaka Payment Systems Division PSD Circular No. 02/2009 Managing Director/Chief Executive Officers All scheduled banks in Bangladesh Date : 4 Falgun 1415 February 16, 2009 Dear Sir, Bangladesh Automated Cheque Processing System (BACPS) at the expanded Dhaka Clearing Region. You are aware that Bangladesh Bank has been working to modernize the country’s payment system. The most visible step towards modernizing payment system is the establishment of the Bangladesh Automated Clearing House (BACH). Bangladesh Automated Cheque Processing System (BACPS) is one of two components of BACH. The other component of BACH is the Bangladesh Electronic Funds Transfer Network (BEFTN), which will be implemented immediately after implementing first phase of BACPS. Selected vendor has already started procuring necessary hardware and software for the BACPS solution. Detailed system specifications and operational configurations are being defined and calculated with a target of going live operation at expanded Dhaka Clearing Region with more than 1050 bank branches of 49 banks in and around the capital city during the second half of 2009. 2. The basic features of BACPS are the adoption of new cheque design standard with a Magnetic Ink Character Recognition (MICR) code line and the exchange of cheque-image and data instead of paper cheques for clearing and settlement purpose. Retention of the original paper cheque will become the responsibility of the presenting bank rather than the paying bank. Banks are required to make arrangement and develop infrastructures to meet the requirements of the new system. Bangladesh Bank will adopt necessary Regulation(s) and issue Operating Rules and Procedures in this regard. Standards of cheques for BACPS have already been circulated and banks have meanwhile been advised to take steps to print uniform standardized cheques with MICR line. Appropriate information to the banks about requirements they must meet to participate in and interface with BACPS are provided below: (i) Point of Truncation: All scheduled banks who are members of the Dhaka Clearing House will be required to submit their list of selected branches and to finalize their â€Å"point of truncation† for submission of their outward cheque images and data to BACPS and be prepared to handle cheque image and data as part of their inward clearing operations. Banks can choose to truncate and process their cheques at individual branch level or at a consolidation point in line with their business needs. However, it must be noted that each bank will have only one Point of Truncation for BACPS. (ii) Scanning Standard: Images must be captured for both the sides (front and back) of each instrument in the format prescribed below: Image Type 01. 02. Front : Black and White Back : Black and White DPI range 200-300 DPI 200-300 DPI Format TIFF TIFF Compression CCITT G4 CCITT G4 3. iii) Software/Integration: All banks will receive images and data, not paper cheques, from the BACPS for all of the items for which they are the paying bank. Therefore, all banks must acquire the capability to accept as well as to send the image files and data from and to the BACPS. However, those banks who will not be able to equip themselves for processing out clearing items electronically within the stipulated time, will be allowed to process their ‘out-clearingsà ¢â‚¬â„¢ by using the Bangladesh Bank’s own facility at Motijheel for a limited time. However, banks availing of ‘out-clearing’ facilities will have to acquire the capability to receive their ‘In-clearing’ items electronically. Once in-clearing data and images are delivered to a bank by BACPS, the subsequent verification and Contd†¦ P/2 -2- processing of that information becomes the responsibility of the respective paying bank. Bangladesh Bank will supply a gateway software module, known as the Participating Bank Module (PBM) which will act as a gateway, amongst other functions, enabling the receipt or transmission of images and transaction data from and to the BACPS. iv) Communication Links: All scheduled banks are required to put in place two secure communication links, one with BACH Headquarter at Motijheel and another with the BACH Disaster Recovery Site (DRS) at Mirpur. The size and scalability of these links will depend on each bank’s mode of operation and daily volumes. It is preferred that banks acquire fibre optic link an d another redundant communication link with BACH at Motijheel and DRS at Mirpur, Dhaka. 4. Participating banks are required to accomplish the following tasks within the time stipulated below : Activity Issuing MICR standard cheques and phasing out non-standard cheques used by customers b. Selection of vendor(s) and submission of plan for installing necessary hardware and software for cheque processing and connectivity with BACH c. Communication links installed between banks and the BACH d. Users’ Acceptance Test (UAT) for each individual bank with BACPS e. BACPS LIVE a. Dead-line 01-03-2009 to 30-05-2009 30-04-2009 31-05-2009 01-06-2009 to 30-07-2009 03-08-2009 5. The purpose of this circular and distribution of functional specifications is to provide an initial understanding about the requirements that must be met by the participating banks. Detailed specifications attached to this circular are: (i) Active Image Clearing System (AICS) Specification containing the format of the files to be exchanged between BACPS and participating banks (Annexure-I) (ii) PBM Specification regarding functionality for gateway software module (Annexure-II) (iii) Network Specification describing standards for the communication links and security devices required for interfacing with the BACH (Annexure-III) All of these Annexures may be provided in soft versions on a CD and also be available at our website. 6. It is, therefore, advised that member banks update their preparations to be in step with the progress of the implementation of the BACH. The BACPS rules and procedures will be forwarded to you in due course. Please acknowledge receipt. ( Chowdhury Mohidul Haque ) Executive Director, Bangladesh Bank and Project Director, RPP Project Tel: 7167988, Fax: 7164233 Email: chowdhury. [email  protected] org. bd

An Empty Purse Frightens Away Friends

With the so-called  modernization  of the world we inhabit, avariciousness is increasing in the people. Increased facilities mean increased demands and an increased demand means more  stinginess  and with more stinginess comes more treacherousness. Diplomacy has become dominant over chasteness. Even the purity of blood relations and innocence of love is at the verge of extinction. Friendship which once was considered the most immaculate relation is no longer filled with the heartiest emotions of devotion, abstemiousness and harmony.People, these days, like agreements more than relations and friendship. Disloyalty has been the nature of every creature ever since life was concocted. Dog is constantly used in the sayings regarding faithfulness, when gets mad, bites its own master. Some control this evil part (disloyalty) of their complexion, while others bluntly expose it. Many such examples are there in history in which acquisitiveness and perfidiousness overshadowed loyalty. I n the start of human race the two sons of Adam fought, and Cain killed Abel despite their blood relation.Since then, human beings are murdering the beautiful emotions like fidelity and adherence. Its intensity has increased, and is increasing as the time is passing. And humanity is being replaced by inhumanness  in society. Friends no longer have the degree of affinity that they once used to have. Nowadays, it is not love or affection that inspires one to be friend with someone; money and status are the factors that matter these days. Persons are friends in just fair weather, when the status drops or money ends, they tend to leave one in the lurch.We read many stories regarding loyalty and friendship like â€Å"three friends and a bag of gold† in which three childhood friends murder each other just for a bag of gold, because when there is money the eyes and heart go blind. As Dr Thomas Fuller mentioned in his â€Å"Gnomologia: Adagies and Proverbs†, â€Å"Money is t he sinew of love as well as war. † People want interest in everything, even if there are emotions at the stake. People make friends not because they are inspired by the loyalty or ersonality of the person but because they are seeing their profit in the friendship, and when this specific profit of theirs starts converting to loss, they disappear like they never even knew or they had a complete overhauling of their mind which made them to forget every little detail of the person they once were so close to. It is very difficult to find a friend that stands with one through thick and thin. If one has a loyal friend than one has got more than one’s share.

Online Shoppers Plan For Buying A Non Downloadable Music...

Ecommerce Koreans who shop online are most likely to buy books, cosmetics, clothing/accessories/shoes and groceries via the Internet in the next six months. While connected Chinese also favor books and clothes, 40 percent plan to make an electronic purchase online. Web-savvy Malaysians like online shopping for booking travel, with airline tickets and hotel/tour reservations the top picks. More online Australians intend to purchase event tickets and non-downloadable videos/DVDs/games than any other in the region. And one-fifth of online Indian shoppers plan to buy non-downloadable music. Total online spending as a percentage of total monthly spending varies by country with Chinese and Korean online consumers allocating the most via the web than any other in the region. Online consumers in New Zealand, Australia, Malaysia and Hong Kong allocate the least. North America Half of online Americans favor sites for stores that can only be shopped online and the majority of Canadian web shoppers are split between a preference for online-only sites (31%) and those that have traditional physical stores (19%). The list of products and services that are favored by American and Canadian online shoppers is almost identical. Books, clothing and airline tickets are the items most likely tagged for online purchase in the next six months. One-third of online Canadians say they don’t plan on making an online purchase in the next six months, which is more than the one-fifth of connectedShow MoreRelatedWhy Should Shop Online? Essay2117 Words   |  9 PagesKoreans who shop online are most likely to buy books, cosmetics, clothing/accessories/shoes and groceries via the Internet in the next six months. While connected Chinese also favor books and clothes, 40 percent plan to make an electronic purchase online. 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