Mccaskey Case Essays

Mccaskey Case Essays Mccaskey Case Paper Mccaskey Case Paper Analysis: Martha McCaskey Harvard Business Review The Issue: This case focuses on Martha McCaskey. McCaskey is a relatively recent Harvard B-School grad on the fast track at Seleris Associates. She is a consultant who specializes in competitive analysis for corporations. McCaskey has been assigned as lead on project Silicon 6. She has a strong track record for delivering quality on her projects, which is why she was chosen as lead for this project. The focus of the project is to reverse engineer cost structure and manufacturing processes for the competitor of a key client of Seleris. This unnamed client is responsible for 20% of the revenue for this division. Therefore, the head of the division is invested in making this customer happy. The top managers promised McCaskey a promotion if she could successfully complete the project to the satisfaction of the client. McCaskey is extremely resourceful, but in the case of Silicon 6, she was having trouble gaining access to the required information. That is, until she tripped across an ex-employee of the competitor company who was eager to share proprietary information. McCaskey found this unethical. McCaskey brought the situation to the attention of her management. The managers, eager to please the clients, have encouraged McCaskey to â€Å"pay off† the ex-employee in exchange for the necessary information. Management has challenged her to come up with an action plan for the project and to meet with the head of the division to review the plan. Analysis and Opinion: McCaskey is faced with an ethical dilemma. In this case, she must decide whether to accept proprietary information, which will result in a satisfied lient and a promotion or follow her moral compass and attain the information using ethically acceptable industry standards. This is a clear case of an organization with a questionable ethical climate. An organization with high ethical standards encourages and shapes the behavior of its employees through policies, procedures and behavior. It is the responsibility of the management staff to build an environment with low tolerance for an y activities that can be deemed unethical. Management must focus on the means as well as the outcomes to ensure that they are operating not only within legal boundaries, but socially acceptable and responsible boundaries as well. Malone, McCaskey’s superior, is heavily directing her approach. When McCaskey went into the presentation with the clients, Malone was the one to make the promises to deliver through access from the ex-employee. Malone also authorized the increase in â€Å"pay† to the ex-employee. McCaskey cannot look to her immediate management to resolve ethical issues. The saving grace for McCaskey is, hopefully, Richardson, Malone’s manager. Senior associates often discuss case status directly with Malone and Richardson. McCaskey should use this to her advantage to go directly to Richardson with this dilemma to gain his buy-in to resolve the issues in a more ethical manner. In the past, Richardson has communicated his ethical expectations to the staff via lunchtime talks. Therefore, McCaskey may find a worthwhile advocate in Richardson. It is not clear if Richardson really believes in building an ethical culture as he has given direct management responsibilities to Malone. Richardson has to be aware of Malone’s practices, but has not taken a firm stand on stating and shaping the organization’s values and conduct by providing visible role models who exhibit ethical behavior. However, Kaufmann, an associate who publicly acknowledges unethical behavior, is not being rewarded, as he is one of the lowest paid associates. This leads the reader to believe that Richardson does not support Kaufmann’s actions. At the same time, however, Richardson has turned a blind eye to his practices and has reaped the benefits from his questionable behavior. McCaskey, to this point, has done everything correct. She has operated within ethical boundaries and has raised issues to her management. The true failure is with Richardson who has not fostered a culture rooted in prioritizing and rewarding ethical behavior. Unfortunately, he is McCaskey’s only hope to resolve this issue. McCaskey’s next steps are to raise the situation to Richardson in hopes he can direct her to move forward in a more ethical manner. With so much at stake, including fines and personal imprisonment, McCaskey should not do anything that could endanger the company or her personal well being.

Strategies for writing an ideal teacher resume -TheJobNetwork

Strategies for writing an ideal teacher resume -TheJobNetwork If you’re a teacher (or working on becoming one), you know that by the time you complete your degree(s), your training courses, and any standardized exams your state throws your way, the job search can feel like yet another daunting process. Or maybe you’re further along in your career and you’re ready for a scenery change, or a subject change. Whatever the case may be, your resume should be a painless part of the process. Let’s look at some strategies you can use as you craft your own teaching resume. Do a little pre-resume brainstorming.Before you start cranking away, here are some resume basics to consider before you even start working on your resume. Ask yourself:Who is going to be reading this? Will it be another educator or administrator, or a layperson? This can help you determine how much jargon or career shorthand you can use.What do I want to emphasize most about myself and my career? What are the assets that make you the most valuable hire?What is my goal with this resume? Are you looking to find your first job in the field, change jobs, or move up?Thinking about these things ahead of time helps you refine your resume before you’ve even begun. You’ve got ideas. Now you just need some structure for them†¦Open strong with a headline, objective, or summary.At the top of your resume will be your contact info, of course (don’t be that guy or gal who thinks that the cover email is enough contact info for this digital day and age), but after that is your opening statement. You could just dive right into the details of your resume, but think about it- this is a chance to really introduce yourself to the reader, and set the narrative for the rest of your resume. Chances are, whoever is reading your resume will also be reading a pile of resumes from other people who may be similarly qualified for the job. So you want to take every edge you can get, including a sentence or two to help set you apart from thos e others.Headlines are exactly what they sound like: a brief, bold one-liner about who you are. A headline is brief, and it doesn’t contain your life story, but it does tell the reader who they’re about to meet in the rest of the resume. Here are some examples:Columbus School District Teacher of the Year  Seasoned Educator and Expert Curriculum Builder  Creative, Metrics-Focused Elementary School Educator Objective statements are a couple of brief sentences letting the reader know your intent. The reader already knows you want a job, so you don’t need to be that explicit. The objective can be more about your short-term goals with this position. Are you looking to change your career? Start your career? Level up with a leadership role? The objective helps the reader see what you’re angling for, besides an interview. Here are some examples:Educator with 10 years of experience seeking an administrative role.Looking for a position as a special-needs teache r at Washington Academy, bringing a creative, high-energy approach to student outcomes.Seeking a position as a math teacher focusing on technology integration and curriculum best practices to improve student achievement.Summary statements are more of a brief collection of highlights that you want to emphasize about yourself. Resume summaries are sometimes called â€Å"qualifications summaries† or â€Å"competencies.† Here, you call out the skills and accomplishments that you want the reader to focus on. For example:Motivated, energetic teacher who values diversity and creativity in the classroomResults-focused leader with a record of improving student test scores year-over-year15 years of curriculum-building experience, and development of classroom activities in accordance with state standards and best practicesAgain, not the life story, but a bit of a sneak preview for the reader. You should be prepared to back up your intro statements with more detailed skills or exp erience bullets later in the resume.Make your experience work for you.As a teacher, you’ve got a lot of things already working for you on your resume: your education and certifications, which are essential elements. Those are concrete points that you don’t really need to finesse or wordsmith- they are what they are. You should highlight your education and credentials in a brief section near the top of the resume.After that, you can start being a little more creative with your resume structure. If you already have a ton of classroom experience, then you can go the traditional route and put your work experience next, followed by skills.If you’re a recent grad or a career changer, and don’t yet have tons of experience, consider going with a more skills-heavy format. This puts your skills and general qualifications front and center, giving it higher priority over the â€Å"experience† section. And even if you feel like you don’t have a lot of ex perience (yet), you do have things you can use to flesh out that experience section. Volunteer work, club or professional association activities, or extracurricular teaching work you’ve done can also be used here. That community writing seminar you ran at the senior center last year? Include it. Your three recent summers as a camp counselor working with elementary age students while you completed your undergrad work? Include it, if it applies to the teaching job you’re seeking. (If you’re seeking an early childhood education job, great- if you’re looking to teach calculus to seniors, maybe not as relevant). You can be creative here to fill in gaps.As you’re building your experience section, don’t forget to list accomplishments, not duties. The person reading the resume is more interested in what you’ve achieved in your career so far, not necessarily what your 10 daily duties were in your last job. It’s important to highlight on ly the most relevant experience points, related to the job you’re seeking.Be selective about your skills.Sure, you may have the highest Candy Crush score in the county, or play the harmonica intro to â€Å"Piano Man† so beautifully it’d make Billy Joel himself cry. Those are great skills to have. But they may not work on your resume. Your skills section, like the rest of your resume, should be laser-focused on the job at hand. These six skill sets are among the top skills for teachers, so you should concentrate on these areas:Communication skills. Teachers communicate all the time- they work directly with students, other teachers, administrators, staff, and parents on a regular basis. Make sure you emphasize your strengths when it comes to writing, speaking, presenting, and- perhaps most importantly- listening.Problem solving skills. Teachers are problem-solvers, and help others solve them as well. You can provide examples of how you solve conflicts, how you can adapt lesson plans in real time, and how you approach those unexpected moments in any classroom.Organizational skills. Hiring managers will be interested to know how you juggle a teacher’s many tasks (classroom teaching, meetings, grading, lesson planning, etc.). Your time management skills are crucial, so definitely emphasize those on your resume.Patience. Whether you’re teaching a classroom of six-year-olds or sixty-year-olds, one of the key characteristics of an educator is patience, and the ability to work with any student to help them learn and achieve. Not everyone has patience, so this is a good skill to include on your resume.People skills. Similarly, general people skills are an asset on your resume. The reader will want to know you can work with others in a productive way, especially students. But this applies to others as well, because teachers are very much team players, interacting with their colleagues and administrators every day as well.Technological s kills. We live in an ever-more-digital world, and teachers who can help bring technology into the classroom productively can be major assets for a school. The skills section is a good place to call out your career-relevant tech expertise.Don’t skip the editing.After you’ve written your resume, there is one more non-negotiable step: you need to review it carefully. Do you really need everything you’ve included? Is everything relevant to the job description? And most important, have you obsessively proofread it, and/or had someone trusted do it for you? It can be tempting to hit â€Å"send† as soon as you write the last word, but you should always, always take that extra step and make sure the whole document is exactly as it should be.For examples of teacher resumes (entry level, mid-career, and seeking upward movement), we’ve got you covered: How to Write a Perfect Teaching Resume (Examples Included). And if you need more inspiration, our Resume Lib rary is a click away as well.

Iconic shape of building relates with old city fabric Essay

Iconic shape of building relates with old city fabric - Essay Example Garz is one of the more important cities for the Slovene, in Austria, and considered as even more symbolical than Ljubljana in Slovenia. A student city for the huge daytime population of its six universities, Garz is a mix of old, historical architecture and new one, with Kunsthaus representing the new side. It is currently used as an arts and culture center focused on contemporary arts (Cook and Fournier, 11). It fits as another modern architecture for Garz as it did not follow conventional building methods but took from ship building as well as design of curves as popularized by the CAD program. The curved designs were cast and the materials were made of fiber glass using pressurized structure. As a portion of a city, the Kunsthaus Garz continues a tradition that made Garz what it is today – a popular destination for rich cultural exploration. Some of the more historical buildings include the clock tower, Karl-Franzens Universitat or the Charles-Francis University, the Unive rsity of Graz, and another contemporary urban project the Mur Island. Built environment is integral on the formation of cities or the urbanization process.

US Military History Essay Example | Topics and Well Written Essays - 1000 words

US Military History - Essay Example Immediately after the end of the Second World War, the Korean War broke at the height of Cold War with the two superpowers playing a significant role in influencing the war. The Soviet Union supported the North communist region as the U.S offered support to the South region that held the idea of capitalism. Although Russia failed to engage in direct combat during the war, it provided support through offering war equipment to the North region and eventually supporting Chinese communist military leading to the end of the war. The U.S involvement, however, occurred through providing support and engagement of U.S military in combat (Stewart, 2005). The primary objective behind the U.S engagement in the Korean War resulted from the fact that the U.S held a need of saving face as well as ensuring that it appeared stronger than communism. Therefore, it is indicative that America never held vital interests on Korea. In supporting the south anti-communists Syngman Rhee that was considered as tyrannical in the same manner as his North counterpart Kim II-Sung, the support offered by the U.S relates from the simple reason of the south region adoption of a non-communist approach. Furthermore, offering support to Rhee a leader that was equally corrupt and tyrannical served the negative policies that the U.S advocated. Again, the culminating factors that led to the involvement of Chinese military in the war served in portraying the weakness of and establishment of the superiority of the communist forces.

Herbal Medicine Essay Example for Free

Herbal Medicine Essay Anything that exists on the earth has a need for survival. According to the World Health Organization (WHO), herbal medicines refers to health practices, approaches, knowledge and beliefs incorporating plant, animal and mineral based medicines, spiritual therapies, manual techniques and exercises, applied singularly or in combination to treat, diagnose and prevent illnesses or to maintain well-being. Different types of herbal medicines are widely applied in Asia, Africa, and Latin America to meet primary health-care needs. Herbal medicines have maintained its popularity in most regions of the developing world. The application is also rapidly spreading in industrialized countries. Worldwide, among all the different traditional medicine systems, Traditional Chinese medicine (TCM) is currently the most popular, followed by Indian medicine. Herbal medicine refers to using a plants seeds, berries, roots, leaves, bark, or flowers for medicinal purposes. Herbalism has a long tradition of use outside of conventional medicine. It is also called botanical medicine or phytomedicine. It is becoming more main stream as improvements in analysis and quality control along with advances in clinical research show the value of herbal medicine in the treating and preventing disease. Herbal medicine is used to treat many conditions, such as asthma, eczema, premenstrual syndrome, rheumatoid arthritis, migraine, menopausal symptoms, chronic fatigue, irritable bowel syndrome, and cancer, among others. Herbal supplements are best taken under the guidance of a trained health care provider. Recently, the World Health Organization estimated that 80% of people worldwide rely on herbal medicines for some part of their primary health care. In Germany, about 600 700 plant based medicines are available and are prescribed by some 70% of German physicians. In the past 20 years in the United States, public dissatisfaction with the cost of prescription medications, combined with an interest in returning to natural or organic remedies, has led to an increase in herbal medicine use. Whenever a culture attempts to assimilate alien ideas, social stresses are bound to occur, especially when such ideas threaten the dominion of major economic and political interests. Mistakes are likely to arise while attempting to implement these ideas. In the case of Chinese herbal knowledge, its use by people unfamiliar with its rules and protocols invariably leads to mishaps; either the herbs or formulas fail to work as expected, or worse, side effects may result whenever herbs are used in contraindicated conditions. In the political and economic realms, government regulators unfamiliar with the unique characteristics of traditional Chinese medicine may impose restrictions upon Chinese herbal practice that inhibit its effective application and suffocate its future development within our culture. The effectiveness of modern herbal practice suggests that we begin our search by understanding the complete meaning of herbalism. Herbs are grown and collected from all over the world. There is nothing magical about an herb; effective medicinal herbs can be found everywhere that plants grow. There is indeed a necessity in making life better by introducing natural herbal dietary supplements in the country. Within the past decade, herbal medicine has gained increasing importance, with both medical and economic implications. In developing countries particularly, as much as 80percent of the indigenous population still depends on traditional systems of medicine and medicinal plants for healthcare. Some common herbs and their uses are discussed below. * Ginkgo (Ginkgo biloba) has been used in traditional medicine to treat circulatory disorders and enhance memory. Although not all studies agree, ginkgo may be especially effective in treating dementia (including Alzheimers disease) and intermittent claudication (poor circulation in the legs). * Kava kava (Piper methysticum) is said to elevate mood, enhance well-being and contentment, and produce a feeling of relaxation. Several studies have found that kava may be useful in the treatment of anxiety, insomnia, and related nervous disorders. * Saw palmetto (Serenoa repens) is used by more than 2 million men in the United States for the treatment of benign prostatic hyperplasia (BPH), a non-cancerous enlargement of the prostate gland. A number of studies suggest that the herb is effective for treating symptoms, including frequent urination, having trouble starting or maintaining urination, and needing to urinate during the night. * Valerian (Valeriana officinalis) is a popular alternative to commonly prescribed medications for sleep problems because it is considered to be both safe and gentle. * Echinacea preparations (from Echinacea purpurea and other Echinacea species) may improve the bodys natural immunity. Echinacea is one of the most commonly used herbal products, but studies are mixed as to whether it can help prevent or treat colds. We chose to have a research study on this topic because I think this can be a way of spreading awareness among people that there can be cheaper way of treating from upset stomachs to headaches. They are also considered natural and therefore healthier and gentler than conventional drugs. So, why is there need to spend so much on expensive drugs uselessly when there is a better option.

The Summa Teologica By Thomas Essay -- essays research papers

The Summa Theologica by Thomas Aquinas  Ã‚  Ã‚  Ã‚  Ã‚   Born in Italy, Thomas Aquinas was one of the most educated men of his time. Aquinas, whose family were noble, was educated as a monk and later continued his education at the University of Naples followed by the University of Paris where he studied the ancient Greek thought of Aristotle. Educated in both philosophy and theology,Aquinas is thought to be one of the most important philosophers of Catholicism. One ofAquinas's most influential writings is the Summa Theologica. In this document, Aquinas clarifies four questions concerning the Church: Whether it can be demonstrated t Godexist? Whether it is always sinfuhatl to wage war? Whether it is lawful for Clerics and Bishops to fight? And whether it is lawful to fight on holy days? He answers each question thoroughly but indecisively; however, when he answers the second question it seems his conclusion have been manipulated in ways that can benefit the church without making them look double sided with their teachings. The second question is: Whether it is always sinful to wage war? In this question Aquinas states in his objection (1), 'It would seem that it is always sinful to wage war because punishment is not inflicted except for sin. Now those who wage war are threatened by our Lord with punishment; therefore, all wars are unlawful.'; (172) However, he justifies the act of war by giving three necessities. The first he mentions is only an au...

What Is a Moratorium On Foreclosures

The mortgage crisis in America is a political hot topic that has taken a front seat to many other topics of national importance. Even the upcoming presidential election has the potential of having this very topic at the center of each candidate’s agenda. However, with a matter of such national significance it would appear as though all most Americans seem to know is that the economy is bad and that about covers it. Many Americans are unaware of this economic crisis occurring and are even less aware of how it could affect them. Therefore, the apathetic and ignorant attitude towards such a dilemma could be explained. In order to assist in the eradication of this issue, one must examine the meaning of a mortgage and that will improve the understanding as to why foreclosures are occurring throughout the country. Furthermore, with this base understanding of this market we might better understand why Congressional and state legislators wish to place a moratorium, or temporary freeze, to the current foreclosure emergency. What is a Mortgage? First, let’s examine what a mortgage is. According to the Freddie Mac lending agency a mortgage is, â€Å"†¦ a lien on a property/house that secures a loan and is paid in installments over a set period of time. The mortgage secures your promise that you'll repay the money you've borrowed to buy your home. † There are also several types of mortgages available through lending agencies as well. Some of the following are the primary options available: fixed rate, adjustable rate, balloon/reset, reverse, and the hottest one that is being talked about the subprime mortgage. This is the one that should be hit on most heavily because this is the reason for the foreclosure crisis occurring right now. The problem with subprime mortgage lending is the fact that a subprime lender is predatory in nature, much like a loan shark. These companies prey on those who cannot receive a mortgage through mainstream companies as a result of poor credit or and/or a number of other factors. These companies then charge very high interest rates on the mortgages they extend to consumers. These interest rates are placed on the principle of the loan and essentially the individual paying on the loan will have to pay on the interest in lieu of the principle for a very long period of time. According to Reuters, â€Å"The crisis surrounding subprime mortgages extended to borrowers with spotty credit [can] unnerve financial markets and could deepen a slump in the U. S. housing market that some economists fear could put the economy close to a recession. † What is a Foreclosure? Second, Foreclosures occur when an borrower or owner of a parcel of property or home defaults on a loan payment, such as a mortgage payment, and the lender files a default notice, whereby a bank or mortgage company repossesses they property in question and the owner/borrower looses whatever rights he/she might have had prior to the default. The problem with foreclosing on individual’s property today is that there are a plethora of people in America that are defaulting on their mortgage payments as a result of the slowing economy, predatory lending, credit card debt; the list is endless. If the mortgage companies foreclosed on all those defaulting, there would be more homeless Americans than in U. S. history. What Is the Proposed Solution? Finally, let’s examine what has been proposed as a solution to the problem of foreclosures as a result of extended mortgages to borrowers, as it stands. The U. S. government is attempting to broker a deal with mortgage lenders to assist troubled borrowers with defaulting on their mortgage payments. However, many lawmakers also would like to see a moratorium occur; freezing all foreclosures so that financially-troubled borrowers can have some time to keep from losing their homes. Lawmakers believe this action will not only assist borrowers, but it will also help to stabilize the economy and the housing market as a result of homeowners having time to accrue equity. Furthermore, lawmakers have proposed to extend more than five billion dollars to the hardest-hit communities so that homeowners might be able to cope a little easier with the crisis. Florida, Nevada, California, Michigan and Ohio are key state in next year’s elections as well as some of the hardest-hit as a result of the mortgage crisis. With lawmakers steering at the helm for a solution to one of the greatest financial questions since the Great Depression all one can do is waiting to see what the next administration will do to assist with the issue at hand.

Ethical Dilemmas in Interpreting Essay

Ethical dilemmas in interpreting: case study 2 In the scenario, I am interpreting at a medical practice. The Service Provider (SP) is the GP practice and Service User (SU) is a patient. I arrive at the reception on time, the receptionist waves me in direction of the patient and then she answers a phone call. Then the patient is called into the consultation room. At the consultation room, I try to introduce myself and give my Code of Practice (CoP) to the doctor but he ignores me and asks what the problem with the patient is. I reply to him that he can ask the patient himself and I will interpret for him. Then the doctor ask me to take the patient back to the waiting room so I can interview her, while he sees another patient, then he will call us back. The following things went wrong during my job assignment: * The receptionist behaves unprofessionally because she shouldn’t leave me alone with the patient because this could cause me being partial and unsuitable to do this assignment. * The doctor ignores my introduction. The Code of Practice (section 5.24) says that Service Provider should â€Å"allow to interpreter to introduce him or herself†. Introduction is important because it allows me explain the rules and terms which I am going to follow during assignment. * The doctor should â€Å"address member of the public directly† (Code of Practice section 5.26). It is important that a service provider speaks directly to a service user, because it allows better communication and connection between, in this situation, patient and doctor, and SU doesn’t feel left out. * The doctor doesn’t want to interview the patient and ask me to leave the consultation room. The Code of Practice defines this problem as follows: â€Å"Conduct all of the interview yourself. It may be tempting to ask the interpreter to go off and have chat with your client, and then come back and tell you the relevant points, but the interpreter is not qualified to know what information to look for or how to process the information received.† (Code of Practice, section 5.29) I wasn’t sure what I should do as an interpreter to be in line with my Code of Practice. If I did what doctor asks, I wouldn’t be assertive and impartial (Code of Practice, section 2.4). If I refused to do what doctor insists, I would leave the patient without  any help. I decide to explain to the doctor what my job description is and ask him one more time to interview the patient. If doctor still refuses to do interview I ask him if would be possible to assign the patient to diffe rent doctor or nurse. After I finished assignment, I would report the incident with the doctor to the agency if I work for one or report it to practice’s manager if I am be freelance interpreter.

Global Warming and Sustainable Energy essays

Global Warming and Sustainable Energy essays Sustainability is defined as patterns of economic, environmental, and social progress that meet the needs of the present day without reducing the capacity to meet future need. Sustainable energy refers to those patterns of energy production and use that can support society's present and future needs with the least life-cycle economic, environmental, and social costs. Life-cycle is the cost of a product from acquiring its original raw material to manufacturing, transporting, and using it to its final demolition and disposal (Randolf and Masters 3). Nobel Laureate Richard Smalley (2005) that energy is as the top of the list of problems in our quest for sustainability. In his view, enough available, affordable and clean, efficient energy would enable resolution of all other problems and is a key to achieving a sustainable world system Randolf and Masters 4. But the supply of non-renewable energy sources - petroleum, natural gas, and coal - is at risk as the majority of our energy consumed (83% in 2009) is being generated from these sources (Renewable However, there are those who believe that over-consumption is more of an environmental threat than population, as expressed by Fred Pearce, in an article at e360 at Yale, "...a small portion of the world's people - those in the affluent, developed world - use up most of the Earth's resources and produce most of its greenhouse gas emissions (Pearce)." He goes on to mention the work of Stephen Pacala, director of Princeton Environment Institute, who calculates that the world's richest half-billion people - that is about 7 percent of the global population - are responsible for 50 percent of the world's carbon dioxide emissions, while the poorest 50 percent are responsible for 7 percent of the emissions (Pearce). Mo...

A Brief History of the Chinese Yuan Currency

A Brief History of the Chinese Yuan Currency Literally translated as the peoples currency the renminbi (RMB) has been the currency of China for over 50 years. It is also known as the Chinese yuan (CNY) and by the symbol  ¥. For many years, the renminbi was pegged to the U.S. dollar. In 2005, it was officially unpegged and as of February 2017, had an exchange rate of 6.8 RMB to $1 U.S. dollar. The Renminbis Beginnings The renminbi was first issued on December 1, 1948, by the Chinese Communist Partys Peoples Bank of China. At that time, the CCP was deep into the civil war with the Chinese Nationalist Party, which had its own currency, and the first issuance of the renminbi was used to stabilize Communist-held areas which assisted in a CCP victory. After the defeat of the Nationalists in 1949, Chinas new government addressed the extreme inflation that plagued the old regime by streamlining its financial system and centralizing foreign exchange management. The Currencys Second Issue In 1955, the Peoples Bank of China, now Chinas central bank, issued its second series of the renminbi that replaced the first at a rate of one new RMB to 10,000 old RMB, which has remained unchanged since. A third series of RMB was issued in 1962 which used multi-color printing technology and used hand-engraved printing plates for the first time. In this period, the RMBs exchange value was unrealistically set with many western currencies which created a large underground market for foreign exchange transactions. With Chinas economic reforms in the 1980s, the RMB was devalued and became more easily traded, creating a more realistic exchange rate. In 1987, a fourth series of RMB was issued featuring a watermark, magnetic ink, and fluorescent ink. In 1999, a fifth series of RMB was issued, featuring Mao Zedong on all notes. Unpegging the Renminbi From 1997 to 2005, the Chinese government pegged the RMB to the United States currency at about 8.3 RMB per dollar, despite criticisms from the United States. On July 21, 2005, the Peoples Bank of China announced that it would lift the peg to the dollar and phase in a flexible mechanism of exchange rates. Following the announcement, the RMB was reevaluated to 8.1 RMB per dollar.

Weak Form Market Efficiency Essay Example | Topics and Well Written Essays - 4250 words

Weak Form Market Efficiency - Essay Example However finance theory assumes idealistic models for the stock markets and formulates the investor utility functions and expectations accordingly. These models are based on perfect competition and passage of information in an unfettered manner. As Wikipedia (2007) seems to point out, "In economics and financial theory, analysts use random walk techniques to model behavior of asset prices, in particular share prices on stock markets, currency exchange rates and commodity prices. This practice has its basis in the presumption that investors act rationally and without bias, and that at any moment they estimate the value of an asset based on future expectations. Under these conditions, all existing information affects the price, which changes only when new information comes out. By definition, new information appears randomly and influences the asset price randomly. Empirical studies have demonstrated that prices do not completely follow random walk. Low serial correlations (around 0.05) exist in the short term; and slightly stronger correlations over the longer term. Their sign and the strength depend on a variety of factors, but transaction costs and bid-ask spreads generally make it impossible to earn excess returns. Researchers have found that some of the biggest prices deviations from random walk result from seasonal and temporal patterns. In particular, returns in January significantly exceed those in other months (January effect) and on Mondays stock prices go down more than on any other day. Observers have noted these effects in many different markets for more than half a century, but without succeeding in giving a completely satisfactory explanation for their persistence. Technical analysis uses most of the anomalies to extract information on future price movements from historical data. But some economists, for example Eugene Fama, argu e that most of these patterns occur accidentally, rather than as a result of irrational or inefficient behavior of investors: the huge amount of data available to researchers for analysis allegedly causes the fluctuations. Another school of thought, behavioral finance, attributes non-randomness to investors' cognitive and emotional biases". Taking an apposite viewpoint Leverton () states, "Without market fundamentals being able to predict prices, the investor is forced to learn new ways of investing.. Ratios and trend analysis are important to picking a winning portfolio. Subscribers to the adaptive expectations theory believe investors are backward looking in deciding on the correct price to pay for a stock". Realized and expected rreturns from the stock markets have been the subject of intense debate since a long period of time .Several theories suggesting various constructs and factors responsible for determining the returns from the stocks have been postulated thus far.It was not until the late 1960s and early 1970s that a fully-developed, empirically-supported theory of share prices' behavior emerged in the form of the Efficient Markets Hypothesis (EMH).Prior to the development of the EMH , analysts assumed some degree of dependence across successful price changes. Very many efforts were made towards identifying a predictable trading pattern which could be used for chasing profitable deals. From the mid-1950s to the early 1980s, a random walk theory (RWT) of share prices was developed based on the past empirical evidence of randomness in share price movements. RWT

Understand How To Lead Groups & Teams And Navigate Conflicts & Essay

Understand How To Lead Groups & Teams And Navigate Conflicts & Negotiation - Essay Example Understand How To Lead Groups & Teams And Navigate Conflicts & Negotiation Leader gives his priority attention to the internal and external customers and their wants or needs, he provide the resources, training and environment reasonable for work to his sub ordinates, he believed in continuous improvement in a positive manners, he encourage the collaboration between his team members and prefer to do work by mutual corporation instead of this working against each other in a team finally affect the future goals on which they are working, leader is a trainer of his team he help his sub ordinates to do their job in a better way, if there is a problem in an organizational environment due to the internal misunderstanding or due to the external factors he trying to cop upit and also get the precautions for the future operation that this mistake do not repeat in future, he trying to improve his communication with his sub ordinates and trying to remove if any communication gap between them he believe in to show by his own rather to communicate it to the sub ordinate s, he choice the resources on the basis of quality not the monetary reward, establish the good organizational environment or improve it and the leader know that who one give his best so he promote the individual reward as well as the team. Leadership is an important function of management which helps to maximize efficiency and to achieve organizational goals. Some of the points related to the importance of the leadership are as following: 1. A person who initiate the work, develop the policies and plans of achieving the goals and provide the guidance about from where to start work. 2. A person gives motivation to his employees by giving the rewards weather economic or non economic and gets his desired work from the employees. 3. A person is not just supervising the work of the employees he provides the guidance related to the work, to improve the efficiency of achieving the goals efficiently. 4. Confidence is one of the important elements which an employee has to express his through and explaining his ideas in front of others which helps to getting the goals. 5. The confidence in the employee is one of the necessary elements which and leader builds in his subordinates. Confidence is the inoculation to perform their liabilities to achieve objectives. 6. Management wants to perform their work through the people. When the environment is like the working environment this helps for the stable growth. Management has to pay attention the employee’s problem and solve them. Modern organizations are developing and shifting quickly and to develop effective strategies they need to hold change and growth. â€Å"Organization development is a wide application of behavioral science knowledge to the planned development and reinforcement of organizational strategies, structures, and process for improving an organization’s effectiveness† (Cummings & Worley, 2009). When people with different nature, behavior and goals are gathered and start working together t o achieve the same organizational goals and objectives then due to their difference in the nature and personalities and differing in their individual objectives some kind of conflicts. Conflicts mean that when two different persons have different opinion on one task and they start making the arguments which are not healthy. To resolve these conflicts the role of the leader according leadership is very important. When a team formed to perform a specific task it have diversity different type of peoples bring different skills like knowledge, experience, values, attitude, behavior and point of view. Every person has to share his skills with others to do the work efficiently and effectively, they all have their own