Arbitrage in the Government Market Essay

In 1991, major discrepancies in the prices of multiple long maturity US Treasury bonds seemed to appear in the market. An employee of the firm Mercer and Associates, Samantha Thompson, thought of a way to exploit this opportunity in order to take advantage of a positive pricing difference by substituting superior bonds for existing holdings. Thompson created two synthetic bonds that imitated the cash flows of the 8 ¼ May 00-05 bond; one for if the bond had been called at the year 2000, and one for if it hadn’t been called and was held to its maturity at year 2005. The first synthetic bond combined noncallable treasury bonds that matured in 2005 with zero coupon treasuries (STRIPS) that matured in 2005. The synthetic bond had semiannual interest payments of $4.125 per $100 face value and a final payment of $100 at maturity in order to exactly match the cash flows of the 8 ¼ May 00-05 callable bond if it had been held to maturity. Thompson found the price of this synthetic b ond by using this formula: The ask price of the two bonds were given as $129.906 and $30.3125, respectively. She calculated the number of units needed of the 2005 treasury bond by dividing the semi-annual callable 00-05 coupon rate by the semi-annual 2005 treasury bond (4.125/6). The only part of the equation that she did not have was the number of units needed of the 2005 STRIP. She had to calculate the correct amount in order to imitate the cash flows of the 00-05 callable bond. Thompson did this by using this equation. The final cash flow of the 00-05 bond was $104.125, the final cash flow of the 2005 treasury bond was $106, and the final cash flow of the 2005 STRIP bond was $100 as there are no coupon payments in STRIPs. She found that the number of units needed of the 2005 STRIP bond was 0.3125, and then found that the synthetic price of this bond was $98.78. The second synthetic bond combined the noncallable bonds maturing in 2000 with STRIPS maturing in 2000. This synthetic bond also had semiannual interest payments of $4.125 per $100 face value and a final payment of $100 at maturity in order to exactly match the cash flows of the 8 ¼ May 00-05 callable bond if it had been called in 2000.  Through similar calculations of the first synthetic bond, she found that she needed 0.0704 units of the 2000 STRIP, and the price of this synthetic bond was $100.43. What Thompson found was surprising because both of these synthetic prices were less than the ask price of the 00-05 treasury bond. In normal markets this shouldn’t be the case because the synthetic bond would be worth more to investors since it does not have a redemption right to the government. In other words, the callable bond should have a lower price than the synthetic noncallable bond. 2. There are two ways that Thompson could exploit this pricing anomaly that she found. If she already held the 00-05 treasury bond, then she could immediately capitalize on the price discrepancy by selling the 00-05 treasury bond for the bid price of $101.125 and buying one of these synthetic bonds. Whether to buy the 2000 synthetic bond or 2005 synthetic bond is up for debate and opinion but it might be suggested to go with the 2005 one since the price of $98.78 is even smaller than the price of $100.43 and there would be larger price impact. By selling the 00-05 bond and buying the 2005 treasury bond, she would be getting the same cash flows for an immediate lower price. The second way that Thompson could exploit this pricing anomaly would be if she does not currently hold any bonds at all. A profit could be earned by establishing short positions in the relatively overpriced security and long positions in the relatively underpriced security. Thompson would borrow the 00-05 treasury bond from a dealer and then sell it. With that money, she would buy a synthetic bond and wait for the 00-05 treasury bond to decrease in price as prices converge. Once they do, she would buy the 00-05 bond for a lower price and give it back to the dealer, while pocketing about $2 (given that she bought the 2005 synthetic bond). There’s plenty of risk when trying to take advantage of pricing arbitrage. For example, the prices may never converge and Thompson might end up waiting almost 15 years without anything happening. Another risk is that the dealer might call the bond back while the money is tied up in the synthetic bond. Because of these risks, it might be better if she doesn’t try and take advantage of the pricing arbitrage at all. 3. Through close examination, a multitude of factors could have come into play resulting in the odd pricing of Thompson’s evaluated bonds. In studies conducted by Longstaff (1992) and Eldeson, Fehr, and Mason (1993) they found that negative option values were very common, ultimately implying that callable treasury bonds were significantly overpriced (35). Although it seems odd to have a negative option value, Thompson found herself in a rapidly changing bond market with the earlier introduction of derivative securities and STRIP bonds. With the introduction of STRIP bonds in 1985, problems arise in valuing callable treasury bonds using solely zero-coupon STRIP bonds being that they tend to undervalue the implied options (Jorden et al. 36). In addition, since negative option value bonds do not have implied volatilities, this raises the question whether callable bonds are priced rationally (Bliss and Ronn 2). Furthermore into Longstaff’s (1992) research, they exercised the â€Å"striplets† approach to investigate implied call option values. The â€Å"striplets† approach uses a U.S. Treasury coupon STRIPS and a coupon bond to synthesize a noncallable bond with the desired coupon (Jordan et al. 37). Longstaff finds that â€Å"61.5% of the call values are negative when estimates are based on the midpoint of the bid and ask prices, whereas 50.7% of the negative call estimates are large enough to generate profits even after considering the bid-ask spread† (38). Ultimately, the odd pricing in Thompson’s current situation is most likely due to the mispricing of callable bonds at the time due to the method of callable bond valuation and the early introduction of new types of bond securities in the market. 4. â€Å"Callable debt gives the treasury the right, but not the obligation, to redeem the callable treasuries at par (100) on any semiannual interest payment date within five years of maturity, provided that it gave investors four months’ notice† (Arbitrage in the Government Bond Market). There are multiple upsides for a company to issue callable debt. The main reason for this is to give the company (treasury) a sense of security in that they can redeem the bond in the event of an interest rate drop. For example, if the company issues bonds to investors at a 10% interest rate and then this rate  goes down to 8%, the company may redeem the callable bonds they’ve issued and replace them with the lower interest rate (8%). Callable debt is essential to have when there are long maturity dates. If you issue a non-callable bond for a fixed amount of years, there is a tremendous amount of risk for the treasury. For instance, if you issue a non-callable bond with a maturity of 25 years and the interest rate goes down over the years, this negatively affects the company. â€Å"Callability enables the treasury to respond to changing interest rates, refinance high-interest debts, and avoid paying more than the going rates for its long term debt† (Why Companies Issue Callable Bonds). Bibliography 1. â€Å"Bonds 200.† Why Companies Issue Callable Bonds. N.p., 24 Sept. 2014. Web. 30 Sept. 2014. 2. Jordan, Bradford D., Susan D. Jordan, and David R. Kuipers. â€Å"The Mispricing of Callable U.S. Treasury Bonds: A Closer Look.† Journal of Futures Markets 18.1 (1998): 35-51. Web. 3. Bliss, Robert R., and Ehud I. Ronn. â€Å"Callable U.S. Treasury Bonds: Optimal Calls, Anomalies, and Implied Volatilities.† The Journal of Business 71.2 (1998): 211-52. Web. 4. â€Å"Bonds 200.† Why Companies Issue Callable Bonds. N.p., 24 Sept. 2014. Web. 30 Sept. 2014. 4. 5. â€Å"Harvard Business School.† Arbitrage in The Government Bond Market. N.p., 20 Sept. 2014. Web. 28 June 1995. .

Helping People in Need a Supererogation or an Obligation

Helping people in need a supererogation or an obligation People in poor nations are starving to death when we are enjoying our delicious meal with our friends and family. There are various governmental aid-projects and privately run charities which are responsible for delivering donations from the relatively wealthy nations to the nations in need. I believe it is a morally right thing to help the people in need, but not every one of us would make donations regularly.Peter Singer uses the drowning child example to make people rethink about this current scenario. He believes that it is our obligation to help the people in poor developing countries. There are objections to his stance, but before considering and discussing from both sides, I am now going to describe and explain the Singer's drowning child example first. Imagine a child is drowning in a shallow pond and saving the child’s life means jumping into the pond and thereby getting one’s clothes wet and muddy. Would you still save the child?All of those having a rational mind will say yes. In spite of the bad consequence of fouling the clothes, saving the child’s life is morally what we ought to do as the importance of the child’s life so far outweighs the little cost of getting one’s clothes wet and muddy. It is within our power to prevent the child’s death without sacrificing something that is of even greater importance. Thus, this is what we ought to do and it is our obligation to prevent something this bad from happening (Singer, 1997).Even when there are other people near the pond who are equally qualified of saving the child but are doing nothing but simply passing by, would you still jump in and save the child? Similarly, all of those being asked said yes. It simply does not make any moral difference to the situation. Undoubtedly, not saving the child in this situation might make one feeling less guilty but everyone thinks that we ought to save the child. We agree that this is our moral obligation and it would be wrong not doing so (Singer, 1997). Then what if the child were being far away, maybe even in another country?Would people still hold the same stance? The answer is yes. Distance and nationality do not make not saving the child just. Whichever child or even adult, if saving his life is what we are able to do without having something of great significance to us being sacrifice, we ought to do that. This is morally what we ought to do without violating other things that are of similar or higher moral importance (Singer, 1972). The situation of the drowning child example is actually synonymous with those hungry children and adults suffering from famine or other disasters, both natural or man-made.If we agree that saving the child that are drowning in a pond is morally what we ought to do and not doing so is unjust, then why should we think otherwise when it comes to helping the people who are suffering in poor developing countries? Why does making regular donations to nations in need not our moral obligation whereas saving the child drowning in a pond is? We have agreed that distance and nationality does not matter in this moral stance. Moreover, the problem of being too far away from the sufferers and we might not be able to come to their aid in time has been overcome by the effort of charities.What is it that stop us from making regular donations? There are explanations to this bipolar situation, giving reasons to help better understanding the causes leading to this global scenario. First of all, saving the drowning child is helping out directly, while making a donation is not. The donation will be distributed to the people in need through the government or some privately run charities. Some of the donation will be used for administrative cost or get swallowed up in corruption.People will never know how much of their donation can really be given to those in need. As corruption is usually a prevalent problem in many of the developing countries, people sometimes have the worry that their donation might not serve to their right purposes but only be ended up in greedy hands. This worry is reasonable but actually most of the donations can get to serve their proper purposes (Giving What We Can, 2012). Although not all of the sum can be used for aid, the part of it that gets to its destination still can make the best of its worth.The aid organizations may not be one-hundred percent efficient, but they can help to solve the problem of distance, serving as an agent for delivery. There are many people around the world who are compassionate about the plight of the others. Charities and governmental organizations collect the aids and help distributing them to the areas in need. I think this is by far the most efficient way of giving out a helping hand. The cost for administration is inevitable and the part of donations spent on it could be seen as for supporting these organizations to keep runnin g.Furthermore, in my point of view, there are always ways to minimize corruption. We can donate money to aid projects that do not involve valuable goods or specifically make donations to programs which serves to tackle the corruption problem in where it is prevailing. The probability of wasting a proportion of the donations should not mean aiding being useless. Those that can get though may make a significant change that we could not imagine. The second explanation is about the psychological difference between the drowning child example and the reality.We feel more related to the sufferers when we could see them. The feeling of guilt for not helping is lesser when we could not see or witness the sufferings (Singer, 1972). Although it makes one feels less guilty without the sight of suffering presenting nearby, it does not make helping those further away a lower priority morally. As we have discussed that distance is not a considering factor in deciding whether it is our obligation t o help or not, both of those from our own country and from the other countries deserve our help.Moreover, in this age of the prosperous development of media technology, charities and governmental aid agencies can effectively show the current situation of the emaciated children to the public. Therefore, it does not sound very plausible to me saying that people not making donations is because of the lack of awareness of the issue. According to Peter Singer, a moral philosopher, if we are able to prevent something very bad from happening, without thereby sacrificing anything morally significant, we ought, morally, to do it (Singer, 1972).Some people object this position. I am going to summarize those objections. For one of the reasons is that this is simply too extreme as most people do not judge those who are ignorant of the others' suffering. People usually criticize those who violate some moral norms, for example: murdering, sex assault,etc. Some writers, including Sidgwick and Urms on, Stated that if the moral code that we set is too hard too uphold, there will be a general breakdown in the moral system (Singer, 1972).The moral code that we are currently using mainly includes not invading the others' privileges, for example: stealing, killing, etc and other things that could help keeping the society safe and sound. Helping the poor nations is not necessary for the wealthy nations. Thus, people usually do not see it as what they must do. This is regrettable but understandable. If making regular donations to those in need is being made to be an obligation and a moral code, it might be too hard for everyone to follow. Eventually, people might choose not to follow anything from the moral code (Singer, 1972).Singer argues that if the conduct is good, why should we categorize it into morally obligatory or morally optional? If morality means doing something good, then shouldn't a good conduct be in the moral code? Moreover, drawing a line to divide conducts into the aforementioned categories is by no means easy. It is hard to define the standard to be used for distinguishing conducts into two kinds. Helping the people in need in other countries is always be defined as a generous and selfless gesture. However, Singer thinks otherwise. He thinks that â€Å"our traditional moral categories are upset†.He objects the traditional distinction that is drawn between duty and charity by using the current standard. It is our moral obligation to prevent as much sufferings as possible in the meantime not sacrificing something else of comparable moral importance (Singer, 1972). How does a man act is actually influenced by the general societal values and the people around him. When a man making a donation or joining voluntary services to help those in need is being praised for his generosity, he would think that what he has done is a supererogation.Actually, coming to the others' aid to prevent suffering without sacrificing as much is an obligation tha t people usually overlook. This situation is for long being shaped by the general social atmosphere and this is what being upsetting. The moral attitude of people is shaped by each other and also the society. Admittedly, helping those is need is always greatly encouraged. However, this is by no means enough. Preventing as much sufferings as possible without causing sacrifices as significant is morally obligatory and not doing so should be seen as unjust (Singer, 1972).I agree with Singer that if it is within one's ability to help, saving other people from suffering seems to be just and morally right, while otherwise seems wrong. Although there might be concerns that what we have given might not be able to serve their greatest worth, I believe that the part of aids that get to the hands of those in need is able to make a significant change in their lives. There are worries that helping those poor developing countries might worsen the current situation. Firstly, those countries usuall y have a higher birth-rate.The aids that we give now would only support them to have a even greater population that the countries themselves are not able to feed (Giving What We Can, 2012). This might leads to a greater demand in foreign help and eventually turns into an ever-expanding cycle. This worry is understandable but there are always other alternatives to help in this kind of situation. For fear of the problem of overpopulation, donations could be made to organizations that help in promoting and enhancing birth-control in the developing countries.Moreover, the reason behind the scene of them having a high birth-rate is the high mortality rate of children. They need a large family size to ensure having enough manpower to take care of the family, to work and to earn. If their lives were not this hard, the birth-rate would presumably decline (Giving What We Can, 2012). The other worry is that the developing countries might become more and more dependent on the aids (Giving What We Can, 2012). This worry is again not necessary as there are many aid projects that are actually aiming at helping those developing nations to be self-supportive.People in some of the poor nations are taught to grow crops for supporting themselves and for selling to make money. Donations could be made to support this kind of projects. Moreover, helping those in need does not necessarily means lengthening their life expectancy but might be about improving their living quality (Giving What We Can, 2012). One example is performing a simple eye operation to cure their eye diseases so that they could see the world more clearly. It is our obligation to help the others in need when it is within our own power without sacrificing something of higher importance.Death and sufferings are things that should be prevented. This is what we ought to do. With the gap between the rich and the poor growing everyday, our moral attitude towards giving out aids should be revised. Helping should not be s een as a supererogation but an moral obligation. References: Giving What We Can. (2012). Myths About Aids, from http://www. givingwhatwecan. org/why-give/myths-about-aid Singer, Peter. (1972). Famine, Affluence, and Morality. Philosophy and Public Affairs, 1(1), 230-234. Singer, Peter. (1997). The Drowning Child and the Expanding Circle. News Internationalist, 1.

Visual Communication Essay Example | Topics and Well Written Essays - 1750 words

Visual Communication - Essay Example On the other hand, few experts (Candy, pp. 23-25) believe that contemporary form of art, such as films, television, music videos, digital photography are outcomes of inspirations and influences from previous art movements (Candy, pp. 23-25). Thus, all contemporary representations of art enjoy a deeper relationship with different periods of art in a meaningful manner. For instance, Surrealism was a significant and successful art movement of 1920s; however, studies have indicated that present artists are doing nothing but blending technology with traditional artworks of Surrealism, and few other art movements, such as Impressionism, Cubism, etc. Analysis of the literature (Surrealism.org, 2009) related to Surrealism has pointed out that present progression in the field of art has changed only the tools and equipments, and artists are still continuing to add visual elements of Surrealism that will be part of the discussion later in the paper. In the past, Surrealists used to create artworks by their hands and brushes while using the techniques, such as collage, furnage, heatage, bulletism, outagraphy, etc (Surrealism.org, 2009). Today, artists, especially of the music videos are using computer software instead of brushes to use the same techniques, in order to communicate with the audience visually, as well as to present their music in an enhanced and inspirational manner (Candy, pp. 29-36). This is one of the reasons that music videos have now become the influential tools to popularize a song, and despite of weak lyrics of a song, artistic music videos result in success of the music (Williams, pp. 47-61). In this regard, it has now become very important to identify factors that existed and played significant role during the art movement of Surrealism, and have continued to dominate the music videos in contemporary era of 21st century. For this

Network security Essay Example | Topics and Well Written Essays - 1500 words - 1

Network security - Essay Example As far as the computer hardware compatibility list (HCL) is concerned the peripherals must be compatible with the operating systems. The HCL may be centrally controlled and user driven. An official HCL should be available on the website of the operating system. The Linux operating system provides the best HCLs (http://www.linuxquestions.org/hcl). Microsoft windows provide the HCL access to average users also due to their market dominance (http://www.microsoft.com/whdc/hcl/) However network security policies aim at the protection of network and related accessible resources from unauthorized users. The administrators ensure the continuous monitoring and effective implementation of the security measures. In order to have a checklist in mind for fool proof security stem in the networking an example of defense of a house from thieves can help. The network attached storage helps the interconnected PCs from hacking and viruses. In this way the attacks at entry level are prevented when the alerts go through the whole network. The computer host security network is not dependable as the hackers can have access and can purchase the hosts rather more easily. The net work security checklist includes the authorization and authentication of the user, creation of firewall for filtering the allowed services to the user, provision of the intrusion prevention system, monitoring for suspected traffics, and denial of unauthorized service (Duane DeCapite, Cisco Press, and Sep. 8, 2006). Depending on the size of the users, software for Antivirus likes Norton or McAfee etc are used. The bigger businesses use the security analyzers in addition to firewalls. And physical security checks against viruses and security fencing. In the UNIX operating environment the script files are created by using screen capture commands. This means that the user is trying to capture the interaction between the text file and UNIX operating system. Such a text file is called a

Introduction to Quantitative Management Essay Example | Topics and Well Written Essays - 2000 words - 1

Introduction to Quantitative Management - Essay Example at in deed the company can be able to utilise its un used crude oil to meet up the needs of the new contract which promises to be buying the Hi-Grade petrol and one which happens to be the most profitable. This means that maximising on the Hi-grade petrol which has the largest profit margin would that the company would be able to make the largest profit margin. The new contract on the other hand promises $1,336,500 from just making 14850 barrels of Hi-Grade petrol. This is at a slightly higher profit per barrel for the new contact with is standing at $90 as opposed to the $85.98average per barrel for the first contract meaning that the company should continue with the new contract. To determine the cost of a barrel of each grade of the petrol produced, this is done by determining cost of the component barrel. For example standard grade of petrol is produced by mixing 14% of crude type A. this means that14% of the standard petrol grade consist of type A crude. This is equal to 14% of one barrel of a type A which is cost14% of the cost of 93.5.this results to the following figures With a total expect profit margin of $2.3456 million, then the company can go ahead and initiate the project since there are positive expected cash flows from the projects. Building a medium park of 180 units however, remains to be the best contributor to the positive expected cash flows from the project. This means that were the projections determined to be true and fair then setting out such a plan would be best option. This would thus mean if the company decided not to purchase perfect information from the market experts at the cost of $200,000 then going as per P2 would be the better option. So if the company for its own reason decided not to commission the expert market research, its best bet to the contribution on the expected returns would be the plan P2 which has the highest expected returns’ contribution which stands at $ 1.0336 million. This is almost half of the total

How do School Districts Differ in their Student Achievements Assignment

How do School Districts Differ in their Student Achievements - Assignment Example The state requirement indicator was 75 percent, a mark that most schools in other districts similar to Cleveland surpassed since they got 81.3 percent. Cleveland performed poorly compared to similar districts; in comparison to the average performance for the whole state, Cleveland still fell short. On the contrary, Shaker Heights showed a remarkably different picture compare to that of Cleveland. Its performance fell short in comparison to other similar districts but better compared to that of Cleveland. Shaker Heights had the worst performance in 8th grade achievement where 66.2 percent out of the expected 75 percent proved proficient in science. Other indicators that Shaker Heights School District fell short were 7th and 8th grade mathematics, and 8th and 9th grade science. In addition, the School District did not meet the adequate yearly progress (Ohio Department of Education, 2012). There are many possible reasons for the difference in performance between schools in poor areas, i n comparison to those in wealthier areas. First, in wealthy backgrounds there is enough money to pay teachers well. A fair wage is an effective motivator making teachers in wealthier schools more motivated to teach better than their colleagues in in poor areas. Second, the different may lie in the students themselves; with students from wealthy backgrounds attending classes more frequently than those from poor backgrounds since the latter usually have family problems that may interfere with their education. The students from wealthy backgrounds may also be motivated to work harder due to the assurance of securing a decent job after school. On the other hand, students from poor backgrounds do not work hard at school due to demotivation from unemployment even among the educated. Finally, the difference in school performance may lie in the schools themselves. Rich schools have bigger and spacious classes, more books, research materials and teachers that are more qualified with better t eaching aids, and a more suitable learning environment in comparison to poor schools. Question 2 (a): Does Florida education website contain information for individual schools in a given district? Yes, Florida does have an education website with information for the performance of schools in all districts, though with a different format compared to that of Ohio. Question 2 (b): If so, look up the most recent data regarding student achievement for Miami-Dade County District, and Youth Co-op Charter School. How does Youth Co-op Charter School compare with other schools in Miami-Dade County Public School district? The Youth Co-op Charter School has a better performance than many other schools in the district. For instance, 100 percent of the students in Youth Co-op Charter School did their exams while only 29.6 percent of the registered students in the whole district did their exams. In the school, an average of 76.125 percent students in 11th and 12th grade scored between 3 and 5 in th eir exams while only 41.1 percent scored the same grade in the school. Though there is no ranking of schools by performance, this shows that Youth Co-op Charter School ranks highly in the district and is one of the top schools, if it is not the

Importance of design in business Essay Example | Topics and Well Written Essays - 750 words

Importance of design in business - Essay Example It is important that design is defined in a different way by every firm and this definition changes from industry to industry as well. Every process in the business organizations start with an idea or design, all the practical as well as management issues are solved with the help of design. Therefore, it is also referred as the problem solving mechanism for the business organizations (Peter, 2004). The vitality of the design can be evaluated for the business by taking a brief overview of the role of design and design thinking in the successful development of a firm. The following section entails an outline of the role and importance of design in for business. Design retains the vital importance in the success of the business organizations as it forms the basis of all the products and services offered by these organizations in the market. Which product is required by the consumers and what services are not available in the market? In which form the product will be more attractive for the target customers? How the services and the quality of product can be improved in order to enhance the profitability, competitive advantage and market share of the firm? Answer to all these questions is found through the process of design in the business organizations (Peter, 2004). Therefore, successful design is acknowledged as the basic strategy for the success of the firms in the marketplace. Design is the product of methods and mindsets, it is widely accepted that the same methods and mindsets which can come up with the idea of an object of desire may also act as tools for the enhancement of the existing services or products. According to Heather (2009), the vitality of design can be appraised from the fact that it also forms the basis of the business itself. Every business or firm is the output of an idea or design, the same process which

COMAIR Regional Airlines Case Study Example | Topics and Well Written Essays - 2500 words

COMAIR Regional Airlines - Case Study Example The regional airline COMAIR, a subsidiary of Delta Air Lines, which serves routes in the United States, Canada and Europe is poised to become very competitive and profitable in 2010. COMAIR currently has 5,800 dedicated aviation professionals and services 511 daily flights to about 77 international and domestic destinations. The COMAIR is the preferred airline of choice by most business travellers and frequent travellers as it offers affordable airfares. COMAIR has gone from strength to strength by rapidly rolling out international routes and additional services for the customers. Another important cost factor for regional airlines is the national and local taxes imposed by the US government. Most countries treat airlines like cash cows by levying national prerogatives and taxes on them that results in higher costs of doing business. Another positive trend is that inspite of the US recession, the regional airlines do offer the safest form of transportation. Although US airlines carry 3.5 million passengers annually, the accident rate is very low compared to the accident rates of motor vehicles and maritime vessels. Another interesting and positive development is that air travel has improved its safety record over time. New US airline jets have more safeguards and safety measures which help minimize untoward accidents on air and on the ground. Among the interesting market players in the US airlines industry is COMAIR. For instance, COMAIR has been effective in four general areas of operations: 1) winning customers; 2) maintaining its fleet in excellent condition; 3) close relations with its pool of human resources, 4) keeping its finances viable. In general, COMAIR's is able to grow its equity over time (McCabe, 1998)COMAIR has increased international capacity by 15 percent in 2008 to address increasing demand. (International Herald Tribune, June 4, 2008) The company has consistently upgraded its fleet on a yearly basis. As regards its salary expenses, Comair's flight attendants have approved a US$7.9 million dollars in wage cuts intended to help the company recover from its financial difficulties. Fourth, COMAIR has been able to manage its finances well. The company has managed to keep unit revenues up and unit costs down. The airlines fly all their available seats, hence, the company managers try to increase their unit revenues on a quarterly basis. The COMAIR managers understand that most of the airline's costs are fixed. Approximately ten percent of costs go to services such as airport fees and air navigation services fees. Labor costs take up an average of 38 percent in the United States. Hence, the COMAIR managers have focused on decreasing the unit cost to bring down operations cost.In addition, the managers continue to manage near-term liquidity pressures. Cash collateral posting requirements had a material impact on its unrestricted cash positions since 2008. Delta Air Lines, stated on Dec. 2, 2008 that its projected cash collateral posting requirement at Dec. 31, 2008 would be approximately US $1.1 billion dollars.In response to the situation of the parent company, C OMAIR is focused on improvements in free cash flow as the key to liquidity preservation. In addition, the company has scaled-back aircraft financing commitments and has

Quantum Oscillator Problem Assignment Example | Topics and Well Written Essays - 250 words

Quantum Oscillator Problem - Assignment Example Figure 6.11 shows a plot of the 10th excited state probability density, |ψ10|2. Mathematica has the Hermite polynomials built-in. The quantum oscillator wave functions are given in equation 6.57; these wave functions are not normalized. The ÃŽ ± in these equations is ð â€˜Å¡ ð Å"”â„ (HW Problem 6.36 and in-class work). The argument of the Hermite polynomials in equation 6.57 is listed as â€Å"x† but you will want to use ð â€˜ ¢ = √ð â€º ¼Ã° â€˜ ¥ as the argument when you are actually write down or program the Hermite polynomials. (a) Write down the (un-normalized) wave function for the 10th excited state; you can write it in terms of ÃŽ ±. Also write down the energy for this state (write this energy in terms â„  and ω)? This type of which energy act on the energy eigenstates of the harmonic oscillator potential producing a un-normalized state of higher or lower energy. a ± =1/√2m(~/i∂/∂x  ± imωx) A=- â„ ^2 d^2/ 2mr^2d (b) Plot ψ10 and |ψ10|2(use u rather than x for your independent variable); your |ψ10|2 plot should look like Figure 6.11. (c) Normalize ψ10 (use u); Normalization the stationary wave functions are r a 1 2 2 ψn (x) = 2n√π n! Hn (ax) e− a x 2 .The diodes are available in the normalized E24  ±1 % (BZX84-A),  ±2 % (BZX84-B) and approximately  ±5 % (BZX84-C) tolerance range. The series includes 37 breakdown voltages with nominal working voltages from 2.4Vto75 V. (d) Find the probability that the electron is in the region −0.5 ≠¤ √ð â€º ¼Ã° â€˜ ¥ ≠¤ 0.5. Use 3 significant figures for these numerical answers. (e) What is âÅ' ©Ã° â€º ¼Ã° â€˜ ¥2âÅ' ª for this excited state?

Is the Ecological Crisis the Human Rights Concern of the Century Essay Example for Free

Is the Ecological Crisis the Human Rights Concern of the Century Essay The ecological crisis has now become an important topic throughout the years. Even so, toward the end of the last century, the issues of such crises became a focal talking point of governments, international organisations and scholars. This most likely is, as Leigh (2005) discusses, an increasing acceptance that such ecological disasters affecting mankind has been one of â€Å"the most critical turning points† that the world has ever encountered. Such crises are experienced when our environment is modified in ways which undermine our continued existence. As the environment and its ecosystems are in a constant state of being damaged, its quality is vastly ruined and this has major effects on the lives that are dependent on it. Magdoff and Foster (2011) suggest that for the ecological crisis to be understood, it must be looked at in the sense of the boundaries of the planet. They go on to indicate that ultimately the Earth has several thresholds which it must remain in in order to preserve the gentle conditions that the Earth has experienced in the past century. These thresholds include loss of biodiversity, climate change, a depleting ozone layer, world-wide freshwater and chemical pollution. Unfortunately, the planet has already passed two of these, including loss of biodiversity and climate change due to our damaging activities that cause environmental disparities. Until recently, the ecological crisis and its subsequent effects have been discussed mainly in the scientific disciplines as merely an environmental issue. It has also been made into an economic concern. However, it is now more than ever in the 21st century being debated and referred to as a subject for human rights. This essay seeks to examine the issue of the impact of the ecological crisis, its human rights implications, and how it has come to be considered the human rights concern of the century. The Ecological Crisis The end of the 20th century and the beginning of the 21st has seen a remarkable increase in the number of environmental catastrophes that the Earth has experienced. These disasters have not been just limited to one eographic region but they have affected nearly every single part of the planet. Some have included climate change, which in turn has been affected by the greenhouse effect and gases ; the advent of peak oil; loss of biodiversity and therefore diminished quantities and quality of food supplies; plus deforestation, chemical pollution and oil spills. These in turn have had a knock-on effect on the way of living for man and caused such issues as rising sea levels, floods, reduced food resources, droughts, and polluted air and water supply. As mentioned, the Earth’s threshold for climate change and biodiversity loss has been passed and this has already been causing irreparable harm to the planet’s ecosystems and the environment. It is still possible, however, to stop such effects from permanent harm to the environment, which is why the ecological crisis has become such an important matter for discussion today. Climate Change â€Å"Of all the environmental issues that have emerged in the past decades, global climate change has been the most serious and most difficult to manage† (Dessler and Parson, 2006). Like with the above quote, it is thought by many scientists and scholars that climate change is and will be the biggest threat to the environment mainly because of its potential to bring about such brutal destruction. Oxfam International (2008) stated that some of the 23 richest countries in the world (comprising Canada, Australia and USA) where just fourteen percent of the entire world population inhabits, produced almost sixty percent of the planet’s carbon emissions since the 1800s. The Earth’s climate is changing. In fact, it has always been varying from time to time. However, the degree of change is now the big worry. The Great Warming (2006) defines climate change as an alteration in the â€Å"long-term climate† of a particular area. It is further stated that humans contribute to this climate change by discharging greenhouse gases and sprays up into the atmosphere while also modifying the land we live on. Dessler and Parson (2006) debate the forecasts for climate change in the 21st century are more or less unclear, nonetheless, this uncertainty can work either way in that the climate may increase or decrease. The prospect of such unknowns makes this question a lot graver. Many of the activities that individuals carry out on a daily basis has contributed significantly to the greenhouse effect, the depletion of the ozone layer, and therefore climate change. As The Great Warming (2006) put it, the inhabitants of the Earth are constantly burning fossil fuels for heating of houses, for production of electricity and to run machines and vehicles. All of these activities have been adding to the warming effect on the atmosphere. The UNDP (2007) report on fighting climate change established that since the start of the industrial age, the temperature of the Earth has risen by about 0. 7 degrees Celsius and this increase seems to be speeding up with time. The report went further in determining that if a threshold of 2oC is broken, we hazard the idea of greater irreparable damage to the environment. Magdoff and Foster (2011) quotes the International Panel on Climate Change (IPCC) stating that by the end of the century in 2100, the most probable temperature increase worldwide will be in the 2. to 4. 6oC range. This, we can see, is far higher than the previously mentioned threshold of 2oC, and as the authors mention, is a major cause for concern and panic. Such drastic climate change can ultimately lead to ice caps melting, sea levels rising, droughts, forced migration of peoples, a reduction in food produce, and danger to coastal regions. This can lead to reduced health and welfare of the population while also causing serious issues with atmospheric pollution. Other forms of the Ecological Crisis Climate change has not been the only crisis the environment has faced. There has also been widespread degradation with other human-driven activities. Goodhart (2009) explains that the ecosystem has been affected by severe exhaustion of its resources. This includes deforestation which has led to erosion and land slippage and thus pushed people out of their habitat. Oils spills have been a major source of concern, according to Goodhart, which has threatened the survival of certain oceanic species that are a vital source of food for man. The ecological crisis will affect the entire world population if nothing is done to stop the effects of all these contributory factors. This has led international organisations such as the United Nations (UN) to establish various agencies and protocols that will guide international actors in dealing with the crisis. These include the IPCC, as well as the adoption of the Kyoto Protocol in 1997. The UN has also held several conferences over the years to tackle the problems including the Earth Summit in Brazil and the United Nations Framework Conference on Climate Change (UNFCCC) . As will be seen in the next section, some of these mechanisms have begun placing more emphasis on and framing the environmental issues as human rights concerns. Relationship between the Ecological Crisis and Human Rights â€Å"As the world marks the 60th anniversary of the UDHR, High Commissioner for Human Rights Navi Pillay points out that a wide range of universally recognized rights including food, life, water and adequate housing are under a direct threat as a result of climate change† (OHCHR, 2008a). The destruction of the environment and its consequent effects on humans is leading to grave human rights concerns. In its resolution on climate change, the UN Human Rights Council stated their concern for climate change posing a direct danger to communities in the world, further suggesting that this ecological crisis has consequences for the â€Å"full enjoyment of human rights† (HRC, 2008) . Framing of the issues in human rights terms has been a very useful tool for creating greater awareness of its impacts and ensuring that the subject reaches new actors and activists, ultimately influencing the process for the better. Human rights are now frequently referred to as â€Å"universal and indivisible†. For this reason, Hawkins (2010) suggests that every human being is â€Å"entitled to every basic right by virtue of their humanity†. As climate change is possibly the biggest ecological concern of late, many scholars refer to it the most when focusing on the human rights implications. However, there are still very deep human rights concerns for the other contributors to the crisis. Depledge (2007) mentioned that there are, at present, no organisations such as the UN that blatantly suggests a right to a healthy environment. Nevertheless, he proposes that the human right to health covered under the UDHR directly implies a link to the environment. This is because the way in which the environment is kept can and does affect the security of people. Therefore, we see truth in Commissioner Navi Pillay’s words in mentioning these rights. Hunter (2009,p. 7) also suggests that climate change can have an impact on the right to self-determination. One example of the effect of the crisis on this right is that of the Inuit people of Alaska who in 2005 submitted a petition to the Inter-American Commission on Human Rights suggesting that their â€Å"way of life† was being hindered by climate change which in turn influences their continued existence and culture. Climate change, if continued on its current path will increasingly raise the Earth’s temperature. This will further affect the water sources, our food, and cause major disease outbreaks. These activities are bound to result in significant human rights violations under the various charters and treaties. Firstly, the right to health will see a drastic rise of malnutrition in children. There will also be a threat of major increases in droughts and flooding around the world (Oxfam, 2008). Another right that needs to be preserved during this process is the all-important right to life and security. Article 3 of the UDHR asks for the â€Å"right to life, liberty and security of person†. These rights are in serious danger of being breached from the issues of the ecological crisis. Goodhart (2009) maintains that the depletion of environmental resources like clean water and oil has â€Å"been a cause of violent conflict in several areas around the world† and this is of extreme distress because of the occurrence of, say, peak oil. Climate change can greatly affect the security of people around the world. As a result of the rising sea levels, the increased temperature and therefore the damage to land, inhabitants of the Earth will experience more flooding, droughts and fires, heat waves and higher occurrence of storms. All of these can ultimately lead to death and an increase in numbers. Another important right affected by this crisis has been the right to food as stipulated in Article 11(1) of the ICESCR . Current trends are not a good sign for people’s right to food under this treaty. Oxfam (2008) suggests that any further warming of the planet is bound to expose fifty million more people to hunger by the year 2020. Within another 30 years in 2050, that number could vastly increase to 132 million. These are extremely high numbers that would be detrimental to the survival of many regions and populations. The Oxfam report cites the case of Africa, where land for cultivation is being reduced by climate change causing the season for growing crop to decrease thereby producing less crop for food. The International Council on Human Rights Policy (ICHRP) categorically mentions that climate change creates violations of human rights due to the constant harm that we are inflicting on the environment (ICHRP, 2008). The most serious effects of the ecological crisis will usually and unfortunately be experienced by the people whose rights and protections are currently not being respected and so occurrences like climate change, tar sands, and pollution will have a greater impact on the more disregarded populations. This includes the poor and usually indigenous peoples around the world. As Havermann (2009) put it, the indigenous peoples around the world are some of those that are most susceptible to these crises while being the ones who have the smallest responsibility for them. For example, the oil and gas expansion by multinational corporations around the world is having severe effects on climate change and the environment, leading on to issues for human rights particularly with indigenous peoples. As Karliner (1991) noted, oil and its excavation has an overwhelmingly negative effect on the economic stability of these groups. Also a huge concern, as a result, is their health which tends to suffer from these activities. The problems faced by many countries with deforestation have also been exacerbating the situation for the realisation of human rights around the world. Many of the forests are disappearing at an alarming rate. The boomerang effect is thus a reduction in the all-important biodiversity that the forests contain and that is necessary for the continued livelihood and survival of those dependent on it. This includes, according to ICHRP (2008), the over fifty million tribal inhabitants of forests around the globe who are constantly affected with their food safety harshly curtailed. If the present rates at which such deforestation and the previously mentioned rises of climate change, oil spills and pollution continue, it is thought that a majority of the rainforests on the Earth will have vanished even before the 21st century has ended. Concern of the Century? Many environmentalists and human rights defenders have framed the ecological crisis as one with a human rights dimension. This is because most see it now as a serious inhibitor to development, to the daily living of man and to fulfilling the rights that have been laid out in the various international instruments. The ecological crisis has seen a large number of environmental problems over the years and its effects are now being debated fiercely on the world stage. Some world leaders, scientists and the general population are all trying to engage in finding solutions to the problem while others still question and underestimate the gravity of the phenomenon. The issue has become a major concern, not just for the planet physically, but also in a human rights context because the ecological crisis single-handedly affects a range of different human rights as seen above. In many instances, its effects can breach more rights than some of the other current rights violators. In addition, while most abuses of human rights can generally be halted voluntarily, if these environmental problems are allowed to linger untreated then at some point in time the destruction of the environment would have become irreversible. This in turn would result in more human rights violations. As Hawkins (2010) argues, the resources of the planet are limited and so to continue with the existing trend will place humanity in peril. Also, the atmosphere cannot distinguish between the greenhouse gases that affect climate change by the region it comes from (UNDP, 2007). Climate change, for example, is non-discriminatory and unlike other rights violations being perpetrated around the world, it can affect just about anyone. This is why such a huge international human rights advocacy process has now been implemented. In a statement in 2007, UN Secretary General Ban Ki Moon referred to climate change as â€Å"the greatest emerging humanitarian challenge of our time† which is â€Å"menacing the whole human family†. As the UNFCCC acknowledged in the framework, the universal reach of the effects of climate change requires the â€Å"widest possible co-operation from all countries† (UNFCCC, 1992). It is evident that the human rights implications of the ecological crisis is a great concern for many people especially in the recent efforts by NGOs to publicise the matter, while a number of measures have been put in place by international organisations such as the UN to tackle the problems – through summits, conferences and protocols like the Kyoto protocol. In 2008, a resolution was passed by the Organisation of American States (OAS) on human rights and climate change (ICHRP, 2008). The commitments set forth in the 1997 Kyoto protocol are soon to end in 2012. Neglecting to meet these obligations will cause us to reach even closer to further crisis. In December 2011, Canada officially pulled out of its commitments to the protocol (Carrington and Vaughan, 2011). The backlash and criticism from world leaders and actors was astounding and this showed the level that the ecological crisis and its implications for human life have reached in this century. Conclusion Going forward without confronting this global challenge that is the ecological crisis with the seriousness that it deserves will result in countless human rights violations around the globe. The climate change, deforestation, oil spills and rising sea levels will cause a massive increase in the destruction of habitats, reduced water supply, island and coastal regions vanishing, and greater health concerns. These in turn are destabilizing many peoples’ rights to food, health, security, life and livelihood. It is imperative that the principles and norms of human rights are continuously applied to these crises so as to halt the irreparable destruction of the environment and the future of humankind. As noted by the UNDP (2007), the 20th century saw leadership disasters resulting in two world wars in which masses of people suffered. In this the 21st century, the destructive nature of the ecological crisis has become the new and preventable disaster.

Elements for AV Informed Consent Process for Clinical Trials

Elements for AV Informed Consent Process for Clinical Trials Audio video consent Guidelines Shekhar Goyal, Indra Bhadu, Akhil Kapoor Abstract: Clinical research guidelines require that every adult volunteer must agree to participate in a clinical trial after given the consent. As per the schedule Y, in all trials, a freely given, informed, written consent, free from any physical, psychological or economic points. After highlight the order of the Hon’ble Supreme court, CDSCO dated 19 Nov. 2013 has passed that all clinical trials should be audio video recording of the informed consent process along with written consent of each trial subject. Audio video consent is another best mechanism intended to improve the quality of ICF. An audio video consent of the informed consent process will protect both the subjects and the investigators. AV consent will also work as a safeguard for industry as well as investigators for future litigations, media and socialist false claims. This article highlights the audio video consent elements procedures according to present guidelines. Keywords: AV process, Clinical trials, consent, Elements, audio video Introduction: Voluntary participation in research strengthens ethical conduct, making a comprehensive; informed consent documents a critical component of research. For good clinical practice (GCP) essential elements of informed consent process and documents should be incorporated. However, there are still instances where the process is not properly conducted intentionally or due to ignorance and subjects were found to have poor comprehension of information provided or incompetent participants were recruited. There are some issues is going on when study enroll vulnerable subjects, illiterate participants or those who don’t know understandable language or investigator don’t know the local language. Indian regulatory authority has taken the strict decision to increase the confidentiality, protection of human subjects, and the transparency of the clinical research. CDSCO issued the gazette of India notification dated 7th June 2013 proposed to make the draft rule that audio – video (AV) recording of the informed consent process of individual participants by an investigator. Final decision has been taken by Supreme Court, CDSCO vide F. No. GCT/20/ SC/Clin./2013/ DCGI dated 19 Nov. 2013 has issued the directions that in all clinical trials in addition to the requirement of obtaining written informed consent, audio-video (AV) recording of the informed consent process of each participant trial subjects, including the procedure of providing information to the subjects and his/her understanding on such consent is required to be done while adhering to the principles of confidentiality. Such audio video recording and related documentation would be preserved by site at least 5 year. A video tape recording of the consent interview is also recommended by United States Food and Drug Administration (US FDA) in case of illiterate participants who can understand and comprehend spoken English but are physically unable to talk or write. This guideline is applicable for all Indian as well as global clinical trials which are conducted in India. Elements of Informed consent Process (AV ICF Process): Every participant/ patient before participant in the study, Principal Investigator should have provide the individual or group presentation in presence of witness or LAR in a understandable language or local language without using much more scientific words to the patients in a proper manner. PI should explain the following required Elements for AV consenting: Topic of the study and aims objective of the study Study duration with scheduler number of participants Protocol design, selection criteria timelines with follow up investigation list Foreseeable Risk benefits of the study with discomfort Alternative treatment source and procedures Data confidentiality accessible details PI study team contact details Aware about AE SAE SAE medical management compensation details in case of: Seriousness of illness If Death Statement that participant is voluntary in the study and agree for AV consenting About prorate payment Subject responsibilities (reporting of new finding, any AEs and Withdrawal from the study anytime, regular follow up, previous results) In case patient unconscious or mental illness/ unable to give informed consent process then above mentioned information should be provided to the legal acceptable representative (LAR). If the subjects or LAR both are illiterate then use the impartial witness should be present during the audio video ICF process. All the communications between investigator and patient / LAR should be recorded in proper way without any restriction in audio video process. AV consent should be taken at disturbance free room. Investigator resolves all query generated by patient and patient LAR during the audio video consent. ICF copy also given to the subjects for deeply gone through, after that process should be started with the elements and ended with sign/ thumb impression in proper section by subject/ LAR, impartial witness and investigator. Previously without AV process, consent had been taken in written format, but after stringent law to tighten the regulatory framework around clinical trials same documented should be in the form of audio video which one recorded by site / investigator for each participant trials subjects. Protocol of AV recording: At the initial of the consent process, investigator will identify the patients/LAR (in case impartial witness (IW) required then IW presence is necessary during the process). Investigator communicate to the patient, his /her understandable language otherwise interpreter arrange for inter- communication. All elements points should be communicate during the informed consent procedure Final affirmation of the subject and certify that he is in complete knowledge of the study and all the queries are clarified. Patient ID proof also documented. Audio video have adequate capability to capture the facial details of subject, LAR, IW (if any), investigator during the consent process without any hurdle in peaceful place. This consent should be taken by orally in front of video. This consent procedure kept as source documentation or further record purpose. Merits: Saves investigators from future litigations: Audio video consent process should be safeguarding of the participants subjects in clinical trials. AV process also safeguard to investigator and show that all relevant information was provided to the subjects after that subjects agreed to take part in the study. In case of any issue or dispute, the sponsor will have solid evidence to support that adequate measures were taken to obtain consent instead of simply written informed consent form. Provides transparency Audio video consent process should increase the transparency ration of the informed consent process in clinical trials; it will enhance the confidence level of the clinical trial societies and institutions. AV recording could be used as an evidence in the court of law provided written process is followed for recording and maintaining the records. Which may helpful to reduce the false claims in the compensation process of SAEs. Protects vulnerable subjects from risk After taking AV consent process vulnerable subjects and illiterate subjects have protected and those subjects who are not understandable medical terminologies. AV consent patient investigator recording and investigator explain the each every elements of the study. So vulnerable subjects and illiterate subject know about the study study procedures. Simply and improved ICF process: In previously, monitor work on ICF documentation and make out the narratives to reconstruct the ICF process many times. The expectation of the documentation and detailed narrative languages continuous increase for the site make issues. Current process will be recorded for patient as well as investigator to ensure that before participant the clinical trials, participant know about the trial and all elements of the study are discussed and doubts and queries raised by participants/ LAR are resolved. It will also highlight those investigators who are not following the informed consent process properly. Demerit: Additional step and responsibility to do this work: Audio video process is an additional step for site. The investigator may counsel or resolve the all queries and doubts. Investigator will be given his more time to obtain informed consent process from each participant through AV consent process. This will enhance the volume of work at the site such as recording, storage, conduct the videography etc. Maintain the confidentiality and long term storage Investigator and study team should be keep confidentiality of audio video consent process, AV data could not utilized or open by any third party or sponsor / CRO. It will be used by regulatory body or EC in case of evidence or Ethical issues. Indian Culture: Indian has traditional culture especially in rural India. Indian women’s wear ghungat or burkas to cover his head face to avoid eye contact with men. When investigator or site staff goes for audio video consent then it will be time consuming and uncomfortable. Subjects who are not want to show her face, she refused to give her consent which may affect the recruitment of the study bias. Language barrier Indian has 26 types of languages speak out from different regions. When inspections or auditor want to gone the audio video process then it will be become difficult for auditor or inspector to know the process was adequately performed or not? Because he or she not familiar with the language. Unconscious serious ill patients Some studies are related to seriously ill patients or unconscious patients; in that case AV recording of the consent process to enroll the subjects will be a big issue. Cost burden: This process has a dramatically increased the clinical trial budget. In a study with large sample size and high screen failure rate, each and every consent should be audio video recorded or stored, whether the participants agree or refuse the consent at the end of the discussion. This will be raise up the cost unnecessary load. Conclusion: Audio video recording and elements of the consent process would be helpful to investigators to take AV consent in proper way. Best point to transparent the data which is helpful to regulatory body. References: CDSCO, Directorate General of Health Services, Ministry of Health Family welfare, Govt. of India; â€Å"Draft guidelines on Audio Visual recording of Informed consent Process in Clinical trial† published in CDSCO website dated on dated 9 Jan 2014. Niranjan G. K., Audio video recording of informed consent process: boon or bane. Perspectives in Clinical research; Jan- March 2014; Vol. 5 issue 1. US FDA guide to Informed Consent: Information Sheet available form: http://www.fda.gov/regulatoryinformation/guidances/ucm126431.htm [Last accessed on 2013 Sep 14]. Ghooi R.B., Ensuring that informed consent is really an informed consent: Role of Videography. Perspectives in Clinical research; Jan- March 2014; Vol. 5 issue 1. The Gazette of India. Ministry of Health and Welfare, Notifications, New Delhi, 7th June 2013 G.S.R. 364 (E). Available from http:// www. cdsco.nic.in /GSR%20364EJune13.pdf [Last accessed on 2013 Sep 23]

The effect of temperature on the reaction between Sodium Thiosulphate (Na2S2O3) and Hydrochloric Acid (HCl) :: GCSE Chemistry Coursework Investigation

Investigating the effect of temperature on the reaction between Sodium Thiosulphate (Na2S2O3) and Hydrochloric Acid (HCl) Planning and Prediction Apparatus List Conical Flask 3 measuring cylinders Sodium Thiosulphate (Na2S2O3) Hydrochloric Acid (HCl) Thermometer Stop watch When sodium thiosulphate reacts with hydrochloric acid, the solution becomes opaque. I will investigate how the rate of this reaction is affected when the experiment is carried out at different temperatures. The reaction that occurs produces sulphur dioxide, water and sodium chloride. GRAPH The rate of chemical reactions can be affected by a number of things:  · changes in surface area  · changes in concentration of the reactants  · changes in temperature  · added substances called catalysts  · and changes in pressure if the reactants are gases. In most chemical reactions the rate changes with time, normally slowing down. Prediction I will be investigating the effect that temperature has on the reaction between sodium thiosulphate and hydrochloric acid. I predict that the higher the temperature, the faster the reaction will occur. This should happen because when heat is applied to a solution the particles in the compounds move faster and therefore come into contact with the other substance more rapidly. More importantly, the collisions are more energetic. An increase in collisions provides more energy than there is in the activation energy, so the reaction is faster. Preliminary Investigation In order to discover what ratio of HCl to Na2S2O3 I needed to conduct a preliminary experiment, changing the concentration of the various reactants. I will need a time of two or three minutes at 20 °C, my lowest temperature, because I predict that the reaction will speed up as the temperature is higher, and I do not want the reaction to happen in just three or four seconds once I get to 60 °C as it will be difficult to measure the time accurately. GRAPH It was discovered after the preliminary experiments that there had been some contamination so the results were inaccurate. With a larger amount of Na2S2O3 than HCl the experiment should have happened slower not faster. After further trials I discovered that: Water 40mls Na2S2O3 10mls HCl 5mls gave me an adequate starting time of approximately 3:00 - 3:30 minutes at 20 °C. As a result of my preliminary investigation I will add water to dilute the Na2S2O3, as otherwise it is too concentrated and the reaction

Mica and men review :: essays research papers

Of Mice and Men Review Of mice and men was such a great movie it was shocking that it didn’t receive any Academy Awards. Gary Sinise made a heart effecting very well done adaptation on Steinbeck’s classic novel. It is set in the great depression, where men travel around trying to get any work they can. It is based around two characters George (Gary Sinise) and Lennie (John Malkovich). Both characters care for each other deeply and take care of one another. Lennie has a mental disability but is very strong, whereas George is very intelligent and cunning and he does the thinking for both of them, while Lennie does a lot of the work. Both Lennie and George find themselves working on a ranch during harvest season with a variety of other quaint characters. The foreman of this ranch is named Curley and Curley’s unnamed wife who plays an important role. The life of these two men is held up by a dream of one day owning their own piece of land. Candy(Ray Waltson) is an old cripple and old ranch hand, he finds out about George and Lennie’s plan to buy land he wants to buy into it. Crook's is another character, a black labourer that is left lonely because he is excluded, and Slim who is a labourer who the others tend to look up to. Curley’s wife likes to show off the fact that she’s good looking and in turn, tends to get people into trouble. Sherilyn Finn quite convincingly plays the character of Curley’s wife. Unfortunately Curley’s wife can’t find anyone to pay attention to her leaving her lonely the same way some of the other characters feel. The film has some very strong acting throughout the film. The acting was led by the always wonderful John Malkovich as Lennie.

Its Time to Regulate and Reform Euthanasia and Assisted Suicide :: Euthanasia Physician Assisted Suicide

It's Time to Regulate and Reform Euthanasia One of the landmark cases that involve euthanasia is that of Karen Ann Quinlan. Quinlan, a twenty-one year old New Jersey resident, overdosed on pills and alcohol in 1975. She was rushed to the hospital where her physical condition gradually deteriorated to a vegetative state. The doctors determined she had no chance of recovery. Before the coma Karen said that if anything ever happened that would leave her physically and mentally incompetent, without any chance of recovery, she would not want to be kept alive by "extraordinary medical procedures," notes Derek Humphry. Karen's parents sought religious counsel from their priest. They were told that the Catholic religion allows the removal of extraordinary care if the patient was in a terminal condition. Karen's parents requested she be removed from the respirator. The hospital denied their request. The Quinlans then directed their request to the court. The superior court denied their request. They took their request to the New Jersey Supreme court where the decision was reversed. Karen was removed from the respirator. To everyone's surprise, Karen began breathing on her own and lived another ten years (Humphry 107). The Quinlan case brought to the forefront patients' desire to die a proud, quiet death. It also brought to the forefront the complications caused by the advancement of medical technology ("Euthanasia"27). Euthanasia has been practiced in Eastern and Western culture since the beginning of civilization. The capability of medical technology to extend life (as demonstrated by the Quinlan case) has made the issue of euthanasia more complicated. Individuals should be allowed to "die with dignity" in the event of terminal illness if he or she wants it. Terminating a patient's life is much more merciful than allowing him or her to die a slow painful death from illness. Those who oppose legalizing euthanasia and assisted suicide say that this could lead to involuntary killing of the aged and infirm. I agree that there may be danger of abuse and that the vulnerable need to be protected; therefore, I support passing legislation that monitors and regulates physician assisted suicide. The demand for legislation in support of legalized euthanasia for the terminally ill has been an issue since the beginning of the century.

Physical Attractiveness and Criminal Behavior

Physical unattractiveness, deformity, and disfigurement have been associated with evil since antiquity. In the Iliad, Homer described the wicked Thersites as possessing thin hair over a â€Å"misshapen head,† with one blinking eye and a lame leg. Physiognomy (the â€Å"science† of reading personality characteristics into facial features) traces its practice to Homer's Greece. When Socrates was convicted for heresy and the corruption of youth in the fifth century B. C. , a physiognomist charged that his face betrayed a brutal disposition. Greek culture embraced the notion that mind and body were interconnected; if a sound mind went together with a sound body, the implication was that a twisted mind resided in a deformed body. Aristotle confirmed this view in his Metaphysics when he reasoned that the essence of the body is contained in the soul. These opinions were ensconced into law in medieval Europe. Among those accused of demonic possession, ecclesiastical edicts interpreted large warts and moles on the skin as physical signs of the entry point of the devil into the soul (Einstadter and Henry 1995). Secular law directed jurists to convict the uglier of two people who were under equal suspicion for a crime (Wilson and Herrnstein 1985). In an echo of these sentiments some years later, Shakespeare's Cassius, in Julius Caesar (Act I, Scene II), is judged a dangerous man by his â€Å"lean and hungry look. † The link between unattractiveness and criminal behavior remained alive and well in 20th-century American popular culture. In his famous comic strip and in the movies it inspired, cartoonist Chester Gould sharply contrasted the square-jawed, clean-cut good looks of detective Dick Tracy with cutthroat criminals like the flat-headed â€Å"Flattop,† the pointy-snouted â€Å"Mole,† the wrinkle-cheeked â€Å"Pruneface,† and the big-bottomed â€Å"Pear Shape. † Hollywood imitated science in Johnny Handsome (1989), a feature film about a robber with grotesque facial deformities who reforms after receiving extensive cosmetic surgery. Some of the earliest criminological researchers shared this thinking. Physiognomy persisted throughout the 18th century, most notably in the work of Swiss scholar Johan Casper Lavater, whose influential Physiognomical Fragments appeared in 1775. One hundred years later, Italian prison physician Cesare Lombroso published Criminal Man (1876), a famous study that attributed criminal behavior to what he termed â€Å"atavism,† an inherited condition that made offenders evolutionary throwbacks to more primitive humans. By conducting autopsies on 66 deceased criminals, and comparing 832 living prison inmates with 390 soldiers, Lombroso created a list of physical features that he believed were associated with criminal behavior. These â€Å"stigmata† included sloping foreheads, asymmetrical faces, large jaws, receding chins, abundant wrinkles, extra fingers, toes, and nipples, long arms, short legs, and excessive body hair-hardly the image of handsome men. The notion that criminal behavior was related to physical anomalies was dealt a severe blow by the publication of Charles B. Goring's The English Convict in 1913. This study subjected 37 of Lombroso's stigmata to empirical testing by comparing 2,348 London convicts to a control group that represented a cross section of young Englishmen. Goring found little support for Lombroso's arguments, concluding that criminal behavior is caused by inherited feeblemindedness, not physical appearance. Undaunted by these results, Harvard anthropologist Earnest A. Hooton conducted an ambitious 12-year study that compared 13,873 male prisoners in 10 states with a haphazard sample of 3,023 men drawn from the general population, searching once more for physical differences. Hooton published his findings in The American Criminal and Crime and the Man, both books appearing in 1939. The books attributed criminal behavior to biological inferiority and â€Å"degeneration,† ascribing a variety of unattractive physical characteristics to criminals (including sloping foreheads, compressed facial features, drooping eyelids, small, protruding ears, projecting cheekbones, narrow jaws, pointy chins, and rounded shoulders). By the 1930s, however, biological research was rapidly losing favor, as criminologists increasingly argued that social factors alone cause criminal behavior. Hooton's research was ridiculed in particular, one sociologist dismissing his findings as comically inept in historic proportions (or â€Å"the funniest academic performance†¦ since the invention of movable type† [Reuter 1939]). Hooton was condemned for his circular reasoning: offenders were assumed to be biologically inferior, so whatever features differentiated criminals from noncriminals were interpreted as indications of biological inferiority. Despite the skepticism of many sociologists regarding these attempts to link physical unattractiveness to criminal conduct, self-derogation and general strain theories can explain this relationship. Self-derogation theory asserts that youth who are ridiculed by peers lose self-esteem and the motivation to conform (Kaplan 1980). General strain theory claims that repeated â€Å"noxious,† unwanted interactions produce disappointment, depression, frustration, and anger (Agnew 1992). Both theories see delinquency and crime as means of retaliation that boosts one's self-worth or vents one's anger. Certainly, unattractive youths are prime candidates for noxious ridicule that results in low self-esteem and emotional strain. Only a handful of modern studies have tested the relationships among attractiveness, criminal behavior, and perceptions about crime. Saladin, Saper, and Breen (1988), for example, asked 28 students in one undergraduate psychology class to judge the physical attractiveness of a group of photographs of young men. Forty students in another psychology class were asked to examine the same photographs and then assess the probability that those pictured would commit either robbery or murder. The researchers found that men rated as less attractive also were perceived to be prone to commit future violent crimes, suggesting that unattractive people are more likely to be branded as criminals. Another study randomly scrambled 159 photographs of young men incarcerated in juvenile reformatories with 134 photographs of male high school seniors (Cavior and Howard 1973). College sophomores in psychology courses were asked to rate the facial attractiveness of these youth. Significantly more high school seniors were judged attractive than males from the reformatories. In the fascinating policy-oriented research that became the basis for the movie Johnny Handsome, surgeons performed plastic surgery to correct deformities and disfigurements (e. g. , protruding ears, broken noses, unsightly tattoos, and needle track marks from intravenous drug use) on the faces, hands, and arms of 100 physically unattractive men at the time of their release from Rikers Island jail in New York City (Kurtzberg et al. 1978). These ex-convicts were matched against a control group of equally unattractive inmates released from the jail who received no reconstructive surgery. When the researchers compared recidivism rates one-year later, those who received the surgery had significantly fewer rearrests. Apparently, improved appearance resulted in improved behavior. These research findings are preliminary and suggestive; more definitive studies using better measurements are needed. In particular, future research should relate ratings of physical attractiveness to the self-reported riminal behavior of persons taken from the general population. Such studies would rule out the possibility that unattractive offenders are more likely to appear in jails and reformatories simply due to the prejudices of the police and prosecutors. Nevertheless, existing research hints that the folk wisdom dating back to the ancient Greeks may have some basis in reality. Physical appearance is related to self-worth and behavior; as th e adage goes, â€Å"pretty is as pretty does. † When it comes to criminal behavior, the opposite may be true as well.

Market Entry Timing Strategy Essay

Empirical study (Robinson and Fornell, 1985) shows that first mover 20%, early followers 17%, and late entrants 13% market share. Robinson (1988) believes that the order of entry alone explain 8.9% of the variation in market shares. It has been shown that the longer the elapsed time between entry of the first mover and that of later entrants, the more opportunities becomes available to the first mover to achieve cost and differentiation advantages. A longer response time provides the first mover to promote awareness and trial that contribute to category learning and for consumers to integrate into their memory additional information through media and WoM. Lieberman and Montgomery (1988) believe that first-mover advantages arise from three primary sources: Technological leadership, pre-emption of assets, and buyer switching costs. Technological leadership provides a learning curve, where unit production fall with cumulative output, which generates a sustainable cost advantage for the early entrant if learning can be kept proprietary and the firm can maintain leadership in market share. If the first-mover has superior information, it may be able to purchase assets at market prices below those that will prevail later in the evolution of the market, such as natural resources and retailing or manufacturing locations. Where there is room for only a limited number of profitable firms, the first-mover can often select the most attractive niches and may be able to take strategic actions that limit the amount of space available for subsequent entrants. With switching costs, late entrants must invest extra resources to attract customers away from the first-mover firm. Buyer may rationally stick with the first brand they encounter that performs the job satisfactorily. Brand loyalty of this sort may be particularly strong for low-cost convenience goods. Thus, late entrants must have a truly superior product, or else advertise more frequently or more creatively. Schnaars (1986) implies that the early bird normally catches and retains the worm. ‘Me-too’ products introduced by later entrants were much more likely to fail. Second entrants obtain on the average only about three-quarters of the market share of the pioneer, and later entrants are able to capture progressively smaller shares. Consumers tend to know and favour the pioneering product, they have no reason to experiment with subsequent entries. These cost advantages put later entrants at a competitive disadvantage, and pioneers may be able to erect entry barriers that lock out subsequent entrants. Late entrants can also find that the field is crowded and the market offers little opportunity. However, a well-conceived ‘second-but-better’ entry, backed by aggressive advertising, may be able to surpass the pioneer’s entry. Later entrants must be better in terms of performance or price, or both, if they are to have any chance of success. Many firms with str ong market orientation seem to embrace later entry. No one entry strategy proved best in all situations. Primary benefit for the pioneer is to build an unassailable position before later entrants recognize the promise of the market or are willing to take the risks of an early entry. It is most appropriate when image and reputation are important to the customer, experience effects are important and not easily copied, brand loyalty accrues to the pioneer, and cost advantages can be obtained by early commitment to suppliers and channels. It carriers many risks, because almost every aspect of an emerging market is unknown. Many pioneers end up pursuing false leads that later entrants are able to avoid. Thus it must be willing to commit a great deal of money – for R&D and educate customers’. The chances of a pioneer getting the product right for the first time are almost nil. One study found that it takes seven to eight years on the average before a firm that enters a new line of business actually turns a profit. Golder and Tellis (1993) state that for pioneers, consumer-based advantage relate to the benefits that can be delivered from the way consumers first choose and then repurchase the product. The pioneer may become the standard for the product category, and a pioneer can lock-in some customers in categories that have high switching costs. Seventy percent of market leaders are pioneers, and almost half of all pioneers are market leaders. Second firm to enter the market would obtain only 71% as much market share as the pioneer, and third firm to enter would obtain only 58% as much. On the other hand, they believe that if later entrants can leapfrog pioneers with superior technology, positioning, or brand names, firms could better off entering late. Evidence shows that the advantages of being first-in are almost equally balanced by the many pitfalls and disadvantages. Kerin, Vradarajan, and Peterson (1992) state that one can achieve first-mover status by producing a new product, use a new process, and/or enter a new market. They distinguish between two perspectives: the economic-analytical and the behavioural. The former indicates that the pioneer creates barriers to entry so it becomes costly for others to follow, this in turn lengthens the lead time, thus enabling the first mover to benefit initially from no competition, and being more experienced once new entrants emerge. From the behavioural view, the first mover communication is more effective and it obtains reputational advantage. Through purchase and trial, customers can become more reluctant to switch. Similarly, there are economic and behavioural views on market contingencies. From the former perspective, the uncertainty of product demands can lower resource commitments and reduce cost advantage due to scale, but small scale operations are more efficient. A first mover can influence how attributes are valued, define the ideal attribute combination, and ultimately influence consumer’s preferences to its benefit over later entrants. The industry relies heavily on advertising and marketing, thus early consumer exposures to advertising is even more beneficial. The technology changes quickly, so the legal protection and experience advantage decreases. From the behavioural perspective, products can be easily evaluated before purchase, so the purchase and trial benefits decrease. The cost of evaluating a product and making a purchase mistake is lower, hence switching costs decreases. But when consumers need to invest in special, related assets, the switching costs increase. However, following firms may benefit from the ability to free-ride on first-mover investments, resolution of technological and market uncertainty, technological discontinuities that provide ‘gate-ways’ for new entry, and various types of incumbent inertia. They can achieve a CA by influencing consumers’ preferences rather than responding to them, such by moving away from the pioneer and develop a more desirable position. Early entrants’ main benefit is to learn from the pioneer’s experience, and avoid many of the onerous costs, along with being able to assess the market’s reaction to the pioneer’s entry. Many early entrants have relied on some combination of marketing clout, product enhancement and low-cost production. Later entries can benefit from the passage of time. If the product form is changing rapidly and standardization has not been achieved, the later entrant may be able to leapfrog earlier entrants by introducing a superior product, backed by market clout. The later entrant can gain a sizable share of proven growth marketing by capitalizing on the low-cost production of me-too products. Many foreign companies pursue this strategy. Late entrant is risky when earlier entrants are able to erect entry barriers, or the market is already flooded with products that leave no room for enhancement. Level Brother’s Persil entered the tablet detergent market as a pioneer, whereby P&G’s Ariel entered as a follower. The former achieved satisfying customers that stuck to the brand, despite low switching costs. It built a brand image that indicated it was the best, it was innovative and technological advanced. It increased customer choice, which could lead to increased satisfaction and loyalty. Persil soon enjoyed large or monopoly market-share in the category, and had potentially highest share after followers enter. Moreover, entering early allowed it to learn from experiences, with more time for trial and error. By entering first, it could create barriers for entry in the retail through shelf-space, and have patent on technology. Persil also set rules for competition on features, benefits and added services. It could also set the price value based or cost based, thus deciding the market. Ariel, on the hand, had the opportunity to assess the market profitability upon entrance, and needed less knowledge to educate the market. It could learn from Persil’s mistakes in terms of pricing, and had less risk to brand equity. Ariel also enjoyed lower R&D costs and could free-ride on Persil’s effort, in addition to develop a better product. The saved time can be used for optimal positioning. The two competitors were competing heavily on the price per wash, higher and lowering accordingly to each other, starting at 22.0p and 28.0p respectively in 1999, both finishing at 20.0p in 2004, but Ariel did better in the end through learning. In conclusion, one can say that faster entry into the industry does not necessary guarantee absolute competitive advantage. The magnitude of first-mover advantage depends on the degree of fit between the environmental opportunity and the first-mover’s skills and resources. Market pioneering is not a strategy that is appropriate for all firms. In organizational reality, firms are more often a later entrant than a pioneer.

Improving Organization Retention Paper Essay

Organizations often experiences staffing issues; therefore, one department will be asked to cover for another. However, these issues can be generated from several aspects within an organization such as staffing issues, financial issues, and organization retention. Subsequently, the organization administration must endeavor to sort out the best strategy to resolve these issues. In this particular paper the underlying issues involves staffing. â€Å"Strategies for improving the employee selection process include tracking recruitment sources; using realistic job previews (RJPs); using assessment tools and interviews to predict turnover; and hiring for fit and motivation (Barrick & Zimmerman, p.1 Para 6 2005). Moreover, an organization that implements a successful staffing approach will essentially establish a positive influence regarding employee retention. Nevertheless with this paper organization retention will be discussed in details, and work motivation theories will be applied to improve employee recruitment and retention at JC’s Casino. An examination of potential occupational stressors that are considered as a negative influence on recruitment and retention as well as a significant proposal will be demonstrated. Furthermore, the role of job satisfaction and its influence on retention at the casino, and recommendations for improving job satisfaction of the employees, and how that can play a part in successfully improving retention will be discussed. Ultimately, a discussing regarding counterproductive employee behavior occurring at the casino as well as what suggestions that would reduce the counterproductive behavior and increase productive employee behavior will be demonstrated as well. JC’s Casino This particular casino is in disarray as the result of unpredictable staffing issues, which essentially caused the casino dealers to leave. In fact, the dealers obtain employment with other casino that merely offered a lower wage rate in contrast to his or her former employment. Moreover, the casino housekeeping staff itself was experiencing issues because of the absenteeism and the high turnover of rooms. Consequently, this issue essentially impinged on other departments within the casino because of the required staff needed to manage the casino was lacking. Indeed, this concern did not impress the casino customers; in fact, it merely produced more chaos as the hotel had to adjust the check -in times, and hire additional staff to work in the luggage room. The customers who arrived earlier had to be accommodating as the organization policy entailed. However, the owner is unaware of the magnitude of the issues, which surrounds the casino itself. In essence, the owner merely knows of the specifics such as the dealers was dropping off like flies, and casino customers were becoming increasingly displeased regarding the untimely check-in transformation. Following, these issues and the whole story enlighten; one could understand why this particular organization desires urgent assistance as a means to improving the organization retention. Motivation Work theories One of motivation work theories that will be employed involves the Douglas McGregor’s X-Y Theory. Douglas McGregor (1906-1964) was the creator of one of the leading exceptional management theories without comparison. He hypothesized that a management position is considered as one of the most significant position within a corporation. In essence, he proposed that it was the manager responsibility to encourage and unveil the vast creative capability within people. McGregor introduced two significant forms of management approaches, which essentially started the development of his X and Y theories: the authoritarian and the participative. The Theory X authoritarian management style, employees are inherently lazy, and the individual would generally have to be forced to work. Nonetheless, under the Theory Y participative management style, employees would discover work as favorable. McGregor also emphasize that, under the proper management, all employees are naturally Theory Y employees (Kallio, 2006). The X Theory is primarily centered on a fashion of management and leadership that is authoritarian, whereas the Y Theory tends to employ more constructive aspects of leadership. Consequently, McGregor’s theory can relate to JC’s Casino situation as it expresses organization development. The Y Theory will allow the staff members to make progress and advance. This way of thinking, in view of this aspect it would be a plus to employ as a means to enhance recruitment and retention within The JC’s Casino. To embark on this journey first, the Y Theory will permit the manager to support employees’ incentives in place of reprimand and demerits. The Y Theory managers deem that each employee like work, and work for the good of the organization, which generates capitalization on competency between the employees. The Y Theory manager would give employees the chance of an independence of creativeness, which would form motivated and faithful employees who appreciate his or her job. The Y Theory managers also work toward building meaningful and productive relationships with their employees. These managers contend with McGregor understanding that the responsibility of management is to allow their employees to express their vast creative potential (Skidmore, 2006). One significant aspect, the Y manager would offer an open dialog with employees and other departments and through displaying leadership by leading with example. Domination and reprimand are not always the best, and the only method to create profitable workplace. In fact, the work itself should be asked and not commanded as a manager subscribing to the X Theory would be more likely to perform. However, the success of either of these theories would essentially depend on -the -job as well as the individual. Some people require unvarying direction and others will excel with little or no direction. In essence, it would fall back on what the individuals work best with regarding Theory X and Theory Y would come into play motivational wise. Another significant theory is called the Z theory founded by William Ouchi. This particular theory is identified as the â€Å"Japanese Challenge† within the management, which is employs the Y Theory and modern Japanese management principals. Although the employee within this theory must have the proper mind-set at all times for tasks with complete liability regarding the ultimate result of tasks. â€Å"Nevertheless, Theory Z essentially advocates a combination of all that’s best about theory Y and modern Japanese management, which places a large amount of freedom and trusts with workers, and assumes that workers have a strong loyalty and interest in team-working and the organization. An individual behavior and environment can change unexpectedly; thus, this particular theory lacks the strength, and direction contrasting to the McGregor X-Y theory that involves great motivational suggestions and reasoning. Occupational Stressors JC’s Casino organization have a high stress level profession as well as a high stress level that often surfaces between employees. This type of environment entails customers who are commonly inebriated and often irritated; thus, workers must intervene if necessary. Consequently, recruitment and retention should be meticulous because a casino environment can be challenging and not for everyone. According to researcher’s casinos that implement â€Å"Anger Management† courses that include procedures for recognizing and managing stress, which displayed a higher results regarding employee contentment (Internet Reference, Anger & Stress in Casinos-www.andersonservices.com). Role of Job Satisfaction To implement employee satisfaction the primary focus would be directed toward researching other successful casino such as Ki-Joon Back, a Korean casino. This casino successfully has applied an employee job satisfaction and organizational assertion. The Korean casino embarks on requiring the employees to engage in a survey questionnaire; consequence aided management by enhancing the condition of employee satisfaction. Moreover, this type of method can be employed within JC’s Casino with the same results. One must first follow- up on the results such as provide ongoing training, health care benefits, and maintain an open dialog with employees. Each aspect should be permanent to ensure employee satisfaction, recruitment as well as retention. Furthermore, the organization should also present employees with necessary supplies according to the resources. When employees are provided with the required supplies it will create a better atmosphere and enhance self-respect and retention. It is significant to bear in mind that integrity generally starts on the top of administration and can seep into the workers (Internet Reference, CQX.com-Cornell Hospitality Quarterly Management). Employee Behavior According to Global Gaming Business regarding employee’s behavior within type of environment by which it emphasizes that when counterproductive behavior occurs in a casino the management should tackle the issue immediately as well as the peoples involved instead evading the situation. Casino policy should be made unquestionably and sincerely to employees who in turn create an appreciation amid management and staff. Management must be the voice of logic when dealing with rumor or complex concerns. Management must take the led to sort out personally grievances and issues on the floor during his or her shift, and one should by no means leave issues unresolved. However, JC’s Casino has two key vital focal points here concerning behavior perceived as counterproductive, which starts with Joe, the tyrannical pit boss, and the above rate of absenteeism among the housekeepers. Management must correct the issue with Joe; in fact, he needs to be taught that his method of working and dealing with his coworkers is causing counterproductive. His behavior is essentially causing the employees to perform inadequately, and resulting in employees to leave the casino. Joe must be retrained and needs to from this point on apply a Y Theory approach in which he works with his employees instead of his former method. In case for some reason he refuses or cannot adjust management must consider reinstating him or shifting him to a position because his behavior is not complimentary to the organization. Another point counterproductive to the company is the above rates of housekeepers as absent from work. The casino pays a fair wage, but because of the shortage of staff the housekeepers undergoing overworked and underappreciated beliefs. The casino needs to employ a new management agenda in which the managers had a better mentality and could create an enhanced working environment for the employees. Conclusion Indeed, based on this finding manager knowledge, skills, and abilities are highly necessary. A management position is considered as one of the most significant position within a corporation. The JC Casino entails numerous significant facets and layers that could be perceived as challenging and are causes for concern. If management maintains this model, change decision-making methods and mindsets, aid employees with healthier working conditions and with respect. This will lead to longer retention and will eventually lead to a better more efficient recruitment process, which will aid the JC Casino as it continues to soar, and becomes profitable. Management must correct the issue with Joe; in fact, he needs to be taught that his method of working and dealing with his coworkers is causing counterproductive. Ultimately, the corporation expects the manager to be prepared to work harder, and to put forth more effort than the others leading by the example. The effectiveness of either of these theories would ultimately come to depend on- the- job and the workers. References Barrick, M. R. & Zimmerman, R. D. (2005). Reducing voluntary, avoidable turnover through selection. Global Gaming Business Vol.9. No. 2, (Internet Reference, CQX.com-Cornell Hospitality Quarterly Management. (Internet Reference, Anger & Stress in Casinos-www.andersonservices.com (Internet Reference, Motivational theories-www.businessballs.com. (Internet Reference, http://www.businessballs.com/mcgregor.htm. Journal of Applied Psychology, 90, 159-166. Retrieved April 4, 2011 Kallio, B. (2006). Mcgregor, Douglas. Encyclopedia of Educational Leadership and Administration. Retrieved on April 4, 2011, from http://www.sage-ereference.com/edleadership/Article_n368.html Skidmore, M. (2006). Theory X, Theory Y. Encyclopedia of Educational Leadership and Administration. Retrieved on April 4, 2011 from, http://www.sage-ereference.com/edleadership/Article_n566.html /