Statistics and Lies - 599 Words

Statistics Taken Out Of Context There are statistics of any topic you can think of. Nine out of ten people say this. Such and such percent approve or disapprove of this product. But, are these statistics true? Or, did someone twist the statistics around so we may believe them? Either way the more statistics are fed to people the more people believe them. In the article, it was explained how statistics were taken out of context for drugs that are tested on animals. The author takes statistics such as, â€Å"92% of drugs fail in clinical trials, having successfully passed through animal studies† and shows where the true statistic came from. (Lovell-Badge, 3013) The author takes the statistic and backs it up with facts. I was indeed†¦show more content†¦You see every three months that the rate rises and falls and the people in the White House are either praised or bashed. The truth with the unemployment statistic is if you are not actively seeking work, you are not included in the unemployment statist ic. That is really misleading. While we are thinking that the economy is getting better, it actually is not. The rate is actually falling because people stopped looking for work. Are statistics important? Yes, they are. Some people do lie about statistics to make their point come across better. It is our job to dig for the truth in the matter. People love numbers and the numbers used in statistics grab people’s attention. It can either make your point come across in a positive way or a negative way. Both ways the point is getting across and whatever product or study that uses statistics is getting some sort of advertisement. Whether the advertisement used is good or bad. Works Cited Bouckley, B. (2011, November 29). Beverage Daily. Retrieved from http://www.beveragedaily.com/Regulation-Safety/Energy-drinks-are-casualty-of-statistics-ripped-out-of-context-ABA Lovell-Badge, R. (3013, January 23). Speaking of Research. Retrieved fromShow MoreRelatedlies,damned lies and statistics2353 Words   |  10 PagesIntroduction Lies, damned lies, and statistics is a phrase describing the persuasive power of numbers, particularly the use of statistics to bolster weak arguments. It is also sometimes colloquially used to doubt statistics used to prove an opponents point. The term was popularised in the United States by Mark Twain (among others), who attributed it to the 19th-century British Prime Minister Benjamin Disraeli (1804–1881): There are three kinds of lies: lies, damned lies, and statistics. This LineRead MoreStatistics Can Be Very Helpful in Providing a Powerful Interpretation of Reality but Also Can Be Used to Distort Our Understanding. Discuss Some of the Ways in Which Statistics Can Be Used or Misused in Different Areas of Knowledge to Assist and M...1467 Words   |  6 PagesThere are three types of lies: lies, damn lies, and statistics. Benjamin Disraeli, British Statesman (1804-1881) Statistics is the study of a set of numbers or measurements; including: the collection, analysis, interpretation, and presentation of the data. It is applied in various Areas of Knowledge, mainly as a form of clarification or emphasis of an idea. For example, in my TOK presentation, I was trying to convey sympathetic emotions within the audience towards the African populationRead MoreRape Essay830 Words   |  4 PagesThe 1 in 5 number is not true. The notion that 1 in 5 young women will get raped in her college career should give you a sense of urgency that out of the 500 young women in your junior class, 100 of them will fall victim to this statistic. Well, don’t, because this statistic is far from the truth. Why? The number 1 in 5 came from an informal online survey from two big universities. The survey was vague, can be taken multiple times, the authors of the survey determined the results, not the participantsRead MoreThe Assumption Of Data Statistics1180 Words   |  5 PagesIntroduction Assumption/Hypothesis Confirm a common assumption about data statistics: data statistics is accurate in calculation but can be misleading in interpretation and decision making. Background â€Å"There are three kinds of lies: lies, damned lies, and statistics.† This quotation is often attributed to Benjamin Disraeli, the 19th century British Prime Minister. In research study, Statistics allow us to distill a large number of experiences down to a few simple truths. But the truths may not beRead MoreAssumptions Statistics : Data Statistics1192 Words   |  5 PagesIntroduction Assumption/Hypothesis Confirm a common assumption about data statistics: data statistics are accurate in calculation but can be misleading in interpretation and decision making. Background â€Å"There are three kinds of lies: lies, damned lies, and statistics.† This quotation is often attributed to Benjamin Disraeli, the 19th century British Prime Minister. In research studies, Statistics allow us to distill a large number of experiences down to a few simple truths. But the truths may notRead MoreIs Lies And 2016 Primary Election1091 Words   |  5 PagesGraduation Project First Draft Milo Norlin AP Literature- Cary Matthews 4/8/2016 Lies and the 2016 Primary Election In recent presidential elections, exaggerations and lies have become normal even while access to truthful information is increasing through the internet. Fact checking these lies has become a standalone section of the news industry, and there are several websites and organizations devoted to simply going through and researching the validity of candidates’ statements. However, even thoughRead MoreProjections, Forecasts, And Estimates Essay1191 Words   |  5 PagesProjection: the familiar word for statements that are taken from mathematics and are based on inferences decided in advance. †¢ Forcast: the statement that has the highest probability to happen in the future. †¢ Estimate: is about specific statistics from the past or present statistics. o Estimates fill in the years between two different census. 3.1.1 Typolography of projection Methods Subective projections are assumptions, and they stay away from elaborate orderly and procedural methods. They can only show impressionsRead MoreThe Advantages and Disadvantages of Telling a Lie720 Words   |  3 PagesThe Advantages and Disadvantages of Telling a Lie Are there any people who have never lied? Of course, there is no human being who has never lied. According to statistics shown in â€Å"Brain Statistics†, about sixty percent of people lie at least once during ten minute conversation. Lying plays an important role in our life. People have been lying since their childhood. Saki, twentieth-century British writer, said: â€Å"A little inaccuracy sometimes saves a lot of explonations† (Northstar 5 ListeningRead MoreTruth or Lie?1230 Words   |  5 Pagesanother 21% had been former smokers and 58% had smoked less than 100 cigarettes in their life, according to a CDC survey (Pleis 10). These statistics result in almost half of the United States population being smokers at one point in their life. The tobacco industry is huge in order to provide cigarettes to the quarter of Americans that currently smoke. The statistics that resulted from the survey did not even include other types of tobacco products, which are just as harmful. However, even realizingRead More Exemplification Essay: Why The World Is Doomed1086 Words   |  5 Pagesalternative sources takes money and effort, there certainly is no lack of those either. Since government will always look towards profit over problem solving, the solution lies in the hands of its citizens. There are many debates over whether some accusations of global warming are true or not. Some scientists see horrible statistics that shed light on the increasing problem of global warming. Some scientists contradict other scientists conclusions on what is being affected from global warming. Either

Kimble s Theory Of Learning Essay - 1494 Words

Kimble’s theory of learning is defined as a relatively permanent change in behavioral potentiality that occurs as a result of reinforced practice. The five aspects or parts of Kimble’s theory of learning are the following: First, the change in behavior. The result of learning must always be translated into measurable behavior. In other words, after learning, learners do something that they did not do before learning took place. Second, this behavioral change is relatively permanent; that is, it is neither transitory nor fixed. Third, the change in behavior does not occur instantly following the learning experience. Even though there may be a potential to act differently, this potential to act may not be translated into behavior until a later time. Fourth, the change in behavior results from experience or practice. Finally, the experience must be reinforced; that is, only those responses that lead to reinforcement will be learned. The authors of the text advocate for a modified definition of Kimble’s original definition of learning because it still stresses the importance of experience, but leaves it to the theoris t to specify the kind of experience they feel are necessary for learning to take place. This modified definition of learning state that learning is a relatively permanent change in behavior or in behavioral potentiality that results from experience and cannot be attributed to temporary body states such as those induced by illness, fatigue, or drugs. Define andShow MoreRelatedPerspectives Paper1467 Words   |  6 Pagesare a response brought on by another stimuli John B. Watson, an American psychologist, became a prominent figure in the field in the early 1900’s. This is a man who got his start by studying the behavior of animals, which lead of course to his later studies on human behavior. Studies, which dealt with the relationship between sensory input and learning and behavior. By 1913 Watson had published his views on what would become better known as behaviorism. One of the goals that he believed regardingRead MoreEssay on Cognitive Maps in Rats and Men1374 Words   |  6 Pagesmany significant findings to the studies of learning , memory and motivation. By todays standards he would be considered a behaviorist. â€Å"He is best remembered for being a pioneer in cognitive psychology during a time when behaviorists dominated the field. Tolman made several significant contributions to the field of psychology. At Berkeley University he created a cognitive theory of learning, which became his trademark to the field. He thought of le arning as developing from bits of knowledge and cognitionRead MoreThe Mission Of Siena Heights University1083 Words   |  5 Pagesand ethical through a teaching and learning environment which respects the dignity of all (Mission and vision, n.d.). The concepts of leadership, â€Å"to assist people to become more competent, purposeful, and ethical,† (Mission and vision, n.d.), fit within the mission of Siena Heights University because the institution fosters the growth of leaders by incorporating skills outside of the classroom. Educators have long known that a significant portion of student learning in college occurs outside the classroomRead MoreCognitive Maps in Rats and Men1456 Words   |  6 PagesCognitive Maps in Rats and Men Edward Chance Tolman made many significant findings to the studies of learning, memory and motivation. Today Tolman would be considered a Cognitive Behaviorist, he developed his own brand of behaviorism which emphasized the purposeful nature behind an organisms actions, taking into account its goals and motivations. â€Å"He is best remembered for being a pioneer in cognitive psychology during a time when behaviorists dominated the field. Tolman made several significantRead MorePsychology vs Common Sense1521 Words   |  7 PagesPhenomena are such things as we call feelings, desires, cognition, reasoning, decisions and the like† (p. 2). Data is collected through careful, systematic observation; then attempt to explain what was observed by developing theories; make new predictions based on those theories and then systematically test those predictions through additional observations and experiments to determine whether it is correct. Where as common sense describes beliefs or propositions that seem, to most people, to be prudentRead MoreSoft Thinking and Intellectual Capital3247 Words   |  13 Pagescapital it is necessary to understand the concept of Soft Systems Methodology and how this methodology can be used to foster teamwork, communities of practice and social learning, and whether these learning outcomes adds knowledge to employees, and leads to improved professional practice and efficacy. So what price do you put on learning – and as an intangible asset does it need to be measured to promote Intellectual Capital (IC) to support the â€Å"effective delivery of strategic goals by focusing managementRead MoreApplying Learning Theories3548 Words   |  15 PagesIntroduction to Learning Theories EDU622-0603A-01: Applying Learning Theories Unit 1 IP Dr. Trude Fawson American Intercontinental University June 17, 2006 Introduction How do we come to know what we know? What is knowledge? These questions are important not only for epistemologists or philosophers who study knowledge, but, as well for those interested in the sciences and education. Whether knowledge is seen as absolute, separate from the knower and corresponding to a knowable, external realityRead MoreCommunities of Practice (Cop)3461 Words   |  14 PagesWhile Lave and Wenger coined the term in the 1990s, this type of learning practice has existed for as long as people have been learning and sharing their experiences through storytelling. This approach views learning as an act of membership in a â€Å"community of practice.† The theory seeks to understand both the structure of communities and how learning occurs in them. Groups whose members regularly engage in sharing and learning, based on common interests—can improve organizational performanceRead MoreFactors That Affect the Academic Performance of the Students Staying at Pic Dormitory3023 Words   |  13 PagesChapter 1 THE PROBLEM AND ITS BACKGROUND Introduction Student’s academic performance occupies a very important place in education as well as in the learning process. So to have better classroom performance and lower drop out incidence, many colleges require students to stay in school dormitories especially those students who live far from school like Cavite, Tarlac, Laguna, Batangas etc. It is widely believed that living in campus dormitory can acquire some benefits in their academic performanceRead More THE IMPACT OF KNOWLEDGE MANAGEMENT PRACTICES IN IMPROVING STUDENT LEARNING OUTCOMES65118 Words   |  261 PagesDurham E-Theses THE IMPACT OF KNOWLEDGE MANAGEMENT PRACTICES IN IMPROVING STUDENT LEARNING OUTCOMES LEE, SHIUAN,EN,CHRIS How to cite: THE IMPACT OF KNOWLEDGE MANAGEMENT PRACTICES IN IMPROVING STUDENT LEARNING OUTCOMES, Durham theses, Durham University. Available at LEE, SHIUAN,EN,CHRIS (2009) Durham E-Theses Online: http://etheses.dur.ac.uk/242/ Use policy The full-text may be used and/or reproduced, and given to third parties in any format or medium, without prior permission or charge, for personal

Dramatic Irony to Build the Character of Macbeth free essay sample

Macbeth, there’s a passage in which the King is speaking with Banquo and Macbeth. They are in the King’s palace, commenting about Macbeth becoming Thane of Cawdor. One of the literary resources that Shakespeare constantly uses is irony. In this case, he uses dramatic irony, in which the audience is aware of a situation that the other characters are not familiar with. In this specific circumstance, he uses the irony to build up the character of Macbeth, to let the audience judge him themselves. There are various examples in which the dramatic irony is explicit. The King has high expectations of the deeds that Macbeth is going to fulfill. He trusts Macbeth and he has just been assigned to be Thane of Cawdor. â€Å"He was a gentleman on whom I built an absolute trust†. The King is referring to the former Thane of Cawdor who betrayed him, he’s committing the same mistake twice, but he seems to be too naive, not considering the fact that maybe Macbeth can betray him too. We will write a custom essay sample on Dramatic Irony to Build the Character of Macbeth or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Macbeth is not planning on doing so yet, but he is being tempted to. The audience knows that Macbeth has spoken to the three witches, that he has the idea of becoming king in his mind, the king doesn’t know this. Macbeth has been presented to us as a good person, not evil. He doesn’t seem to have any plans against the king, or against anybody, he seems to be honest and pacific. We think like this and so do the rest of the characters. The problem is that an obstacle has been placed in his way, he has been tempted, he is being manipulated into becoming greedy and ambitious. Temptation is attacking his mind, one can clearly identify this in his aside, â€Å"let not light see my black and deep desires† . He is admitting to himself that he is feeling inducement to commit a crime in order to get to the crown. The situational irony here is present because of the fact that the king is saying wonderful comments about Macbeth and he is answering him with all respect and honor, but the audience hears his aside, proving him to be kind of a hypocrite. The image the spectators have of Macbeth is beginning to change. Macbeth praises the King in each and every one of his sentences. He continues telling him how hard he is going to work for him, how much he honors him and what a pleasure it is to work directly for him. The viewers start to question the veracity of Macbeth’s statements. He seems to be trying to convince the King to trust him, when Macbeth doesn’t even trust himself because he is very confused. â€Å"The service and the loyalty I owe, / In doing it, pays itself. † Macbeth seems to be honest when he speaks these words, but when we listen to his soliloquy we doubt this. This is what builds the situational irony again. The dramatic irony is a tool for the audience to learn more about the character of Macbeth. The listeners used to think that Macbeth was impulsive, naive, and good hearted, after this scene, people start to question that. This aims to the theme of the play, â€Å"Fair is foul, and foul is fair† . There’s confusion between what’s right and what’s wrong. To this point, the spectators don’t know what to think about Macbeth, it is all summarized in what the king said, â€Å"There’s no art / To find the mind’s construction in the face. † No matter what your image of somebody is, there’s a fifty/fifty chance that this is false. Dramatic Irony to Build the Character of Macbeth free essay sample Macbeth, there’s a passage in which the King is speaking with Banquo and Macbeth. They are in the King’s palace, commenting about Macbeth becoming Thane of Cawdor. One of the literary resources that Shakespeare constantly uses is irony. In this case, he uses dramatic irony, in which the audience is aware of a situation that the other characters are not familiar with. In this specific circumstance, he uses the irony to build up the character of Macbeth, to let the audience judge him themselves. There are various examples in which the dramatic irony is explicit. The King has high expectations of the deeds that Macbeth is going to fulfill. He trusts Macbeth and he has just been assigned to be Thane of Cawdor. â€Å"He was a gentleman on whom I built an absolute trust†. The King is referring to the former Thane of Cawdor who betrayed him, he’s committing the same mistake twice, but he seems to be too naive, not considering the fact that maybe Macbeth can betray him too. We will write a custom essay sample on Dramatic Irony to Build the Character of Macbeth or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Macbeth is not planning on doing so yet, but he is being tempted to. The audience knows that Macbeth has spoken to the three witches, that he has the idea of becoming king in his mind, the king doesn’t know this. Macbeth has been presented to us as a good person, not evil. He doesn’t seem to have any plans against the king, or against anybody, he seems to be honest and pacific. We think like this and so do the rest of the characters. The problem is that an obstacle has been placed in his way, he has been tempted, he is being manipulated into becoming greedy and ambitious. Temptation is attacking his mind, one can clearly identify this in his aside, â€Å"let not light see my black and deep desires† . He is admitting to himself that he is feeling inducement to commit a crime in order to get to the crown. The situational irony here is present because of the fact that the king is saying wonderful comments about Macbeth and he is answering him with all respect and honor, but the audience hears his aside, proving him to be kind of a hypocrite. The image the spectators have of Macbeth is beginning to change. Macbeth praises the King in each and every one of his sentences. He continues telling him how hard he is going to work for him, how much he honors him and what a pleasure it is to work directly for him. The viewers start to question the veracity of Macbeth’s statements. He seems to be trying to convince the King to trust him, when Macbeth doesn’t even trust himself because he is very confused. â€Å"The service and the loyalty I owe, / In doing it, pays itself. † Macbeth seems to be honest when he speaks these words, but when we listen to his soliloquy we doubt this. This is what builds the situational irony again. The dramatic irony is a tool for the audience to learn more about the character of Macbeth. The listeners used to think that Macbeth was impulsive, naive, and good hearted, after this scene, people start to question that. This aims to the theme of the play, â€Å"Fair is foul, and foul is fair† . There’s confusion between what’s right and what’s wrong. To this point, the spectators don’t know what to think about Macbeth, it is all summarized in what the king said, â€Å"There’s no art / To find the mind’s construction in the face. † No matter what your image of somebody is, there’s a fifty/fifty chance that this is false.

Lesser Known Beer Companies Essay Sample free essay sample

Hook As of May 22. 2012 there are 1. 989 breweries in the U. S. This includes both trade and big non-craft breweries. Of that merely 21 of them are big non-craft breweries. this is your more good known beers. Craft surpassed volume portion grew 5 % in 2011 and continues to derive while big beer maker volumes are in diminution. This fundamentally means that the more local and unknown brewed beers are selling better than those of the mainstream commercial beers. Thesiss statistics may be surprising to you but it should besides state you there is more out at that place than you realize. Relevancy The three chief companies I am traveling to speak about today are New Belgium Brewing which is located in St. Louis. Flying Dog Brewery which is located in Maryland. and in conclusion Rogue Ales Brewery located in Portland. Credibility I have been a large fan and follower of these beer makers and there beer for a piece now. We will write a custom essay sample on Lesser Known Beer Companies Essay Sample or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page and in my sentiment its some of the most delightful beer I have of all time consumed and I think if Is can distribute the word a batch more people may acquire to bask them. Thesis Although there are many beer companies advertised in magazines and on telecasting. there are besides many companies that people have no thought approximately. Preview The unknown beer makers of America dedicate themselves to seting out choice merchandise that will convey people who portion the involvement of good beer together. They achieve this by opening up all different sorts of breweries. There are Brewpubs which are the combination of a brewery and a eating house. Microbreweries which are breweries that produce a limited sum of beer. and so there is a Craft Brewery which is normally a little independent and traditional brewery. Connective Another interesting thing is some of these beer makers while doing delightful types of beers are besides seeking to salvage the Earth in the procedure. ( internal ) Body Main point one subject sentence New Belgium Brewery is one of the taking breweries that helped get down the tendency to seek and travel green. so non merely are they doing great beer but at that place seeking to salvage the environment while making so. Quote â€Å"In 1998. the full staff of New Belgium Brewing Company agreed to the fiscal committedness of doing their installation the first wind-powered brewery in the U. S. † ( Sweezy ) The work forces and adult females of New Belgium have given up a batch more than merely clip and difficult work to gain there topographic point among the great beer makers of the U. S. They all have even sacrificed there ain money that they earned merely to seek and do an impact on the planet. Statistic The 70 individual staff voted to buy the air current power. even tho the extra cost would decrease the size of their one-year fillips. ( Bird ) Thanks to companies like New Belgium we get to bask forte brewed beer while besides know its vena brewed by an environmentally friendly company. one thats even willing to give at that place wage for it. Connective Along with New Belgium there are many other local and belowground breweries that strive for illustriousness through interesting traits. The 2nd brewery that I would wish to speak to you about is partially popular due to the art that is involved with there bottles. Main point two subject sentence Flying Dog Brewery is a really alone non merely does the celebrated creative person Ralph Steadman design the different Son on the bottles. but one of the laminitiss George Stranahan is a good known lensman. Not merely are Ralph and George great creative person. but they are besides womb-to-tomb friends of the celebrated journalist known as Hunter S. Thompson. When him and Ralph foremost met changed his whole manner of artistic look. Ralph and Hunter spent a hebdomad together on a boat following a yacht race. and all the piece Hunter was steadily devouring little xanthous pills. Ralph was combating mal de mer and asked Thompson if his pills would assist him. Thompson gave him 1. and changed his life everlastingly. The pill contained LSD. and Ralph was sent on a day-long escapade. This journey changed his life everlastingly. and clearly affected his graphics. He loosened up even more. and his work began to demo more emotion. Fact Hunter introduced George to Ralph. who so began making original art for Flying Dog’s labels in 1996. Ralph’s first art was for Road Dog Porter. Transition So far I’ve talked about how one brewery has made an attempt to assist salvage they earth. and how another brewery has made an attempt to integrate art into there beer. Now I’m traveling to speak about how undermentioned your dream can pay off in the long tally. Main point three subject sentence The last company I am traveling to state you approximately is Rogue Ale. they are likely the smallest out of the three Is have introduced to you today but besides likely my favourite. Rogue was late honored at the World Beer Awards with four World’s Best Awards given to Chatoe Dirtoir. Brutal IPA. Chocolate Stout and Mocha Porter. In order. they were recognized as World’s Best Seasonal Lager. World’s Best Bitter Pale Ale. World’s Best Flavored Stout and World’s Best Flavored Porter. They besides take portion in many charity events developing to make out and give back to the community. Quote â€Å"Our end was to make an event to observe the temptingness. complexness and spirits of pale ale. while raising consciousness about an of import men’s wellness issue. † ( Rick Lyke ) Connective As you can see all of theses lesser known breweries bring something particular and alone to the tabular array. whether it be traveling green. showing an artistic thought. or giving back to the community. They are all under rated and one hope today I helped to distribute the word. DecisionSignal/restate thesis There are a great sum of lesser known trade breweries in the United States.Review chief points The three companies I have spoken about today are full of great workers. great leaders and good merchandise. They are merely fighting to go a mainstream name. they have no commercials on Television or pages in magazines at that place merely traveling by word of oral cavity of their clients. Relate to introduction It all started with a couple friends who had a dream ; to convey together good people and good beer.Dissolve/Strong Ending I believe that by educating people about these companies here today I can assist distribute the word about local good beer. and possibly even assist do some dreams come true. Mentions Herz. Julia â€Å"Number of Breweries† . Brewers Association. May 22. 2012. hypertext transfer protocol: //infohouse. p2ric. org/ref/45/44265. pdfBlair G. Sweezy and Lori A. BirdSteadman. Ralph. Gonzo: The Art. Orlando: Harcourt. Inc. . 1998. hypertext transfer protocol: //www. ralphsteadman. comhypertext transfer protocol: //rogue. com/rogue-wire-service/blog/2012/01/06/rogue-wins-at-world-beer-awards/

The military tactics used by both the USA and Vietcong forces in the 1960s.

The military tactics used by both the USA and Vietcong forces in the 1960s. The tactics used by the Vietcong and US military forces were very different and changed during the course of the war. At the beginning of the war the Vietcong (NLF) army was aggressive whilst the US army was defensive. The Gulf of Tonkin incident became America's excuse to become aggressive towards the Vietcong.In 1965 General W. Westmoreland developed the strategy of "search and destroy". Its objective was to find and kill any members of the NLF. US soldiers found this difficult however as the Vietcong always dressed in civilian clothing, and killing peasants by mistake was not uncommon; "if he's dead and Vietnamese, he's a V.C." was the view of the troops carrying out the search and destroy missions.It was clear from the outset of war that the US had far more technologically advanced weapons than the Vietcong, which they used throughout the conflict. B-52 bombers altogether dropped 8,000,000 tons of bombs between 1965 and 1973which equated to 300 tons of bombs per person living in Vietnam.The alleged 1966 martyrdom of Vietcong soldier Ngu...This was over three times the amount dropped during the whole of World War Two. Aside from bombs the US also dropped a considerable amount of napalm, a mixture of petrol, phosphorous and a chemical thickener which attaches itself to the skin causing horrific "fifth-degree" burns to the victim, which could quite often be an unlucky US soldier. Agent Orange, a complex biological weapon was dropped over a lot of the thick vegetation of Vietnam, causing all plant life to die, potentially to expose any hiding Vietcong.The US pioneered the development of anti-personnel bombs, smaller than those dropped from the B-52s, such as the "pineapple", which shot shards and needles of metal in all directions. With the many different developments of anti-personnel bombs it was the US's...

Early Decision Schools Complete List of ED Colleges

Early Decision Schools Complete List of ED Colleges SAT / ACT Prep Online Guides and Tips Did you know that early decision isn't necessarily early? "Binding decision" might be a better name for it, since some schools now offer "early" decision deadlines in January as well as in November. Either way, applying early decision is a big commitment. If you apply this way, you should be totally sure you want to attend that school. Let's review the pros and cons of early decision and look at all the schools that currently offer early decision admission. What Is Early Decision? Early decision is a binding admission plan. When you apply early decision, you sign a statement agreeing to enroll in that college if you're accepted. Because of this binding agreement to enroll, you can only apply to one school early decision. Applying this way is a great choice if you've done your research, weighed your options, and have zeroed in on your dream school. You should, however,make sure you can attend the school regardless of the financial aid package it offers you. Since early decision requires commitment, it might not be an option that's accessible to everyone. This financial factor has been a point of controversy, causing some schools to switch from early decision to non-binding early action plans.That said, many schools still offer early decision, as you'll see below, perhaps to remain competitive and gain a more accurate sense of enrollment numbers. Rather than offering spots to students who might or might not attend, colleges can be sure that early decision applicants will enroll the following fall. Some schools appear to accept a higher percentage of early decision candidates than they do regular decision candidates. Since you're committing to a school when you apply this way, your enthusiasm for the institution is likely to make a good impression on admissions officers. However, early decision doesn'tnecessarily give you a better chance of getting accepted. Thus, your first priority should always be tosubmit the best application you can. As mentioned above, not all early decision deadlines are actually early. Traditionally, early decision deadlines are in November.You'll get notified by mid-December, meaning you could potentially have your college plans finalized before the new year! Some schools now also offer Early Decision II. Early Decision II has the same stipulations as Early Decision I, but its deadline is typically in January. Early Decision II is a good option for students who are ready to sign a binding agreement but could benefit from a couple more months to prepare their applications. Applying later also gives you the opportunity to retake the SAT/ACT and send mid-year grades from your senior classes. When you apply early decision in November, you will get eitheraccepted, denied, or deferred. Getting deferred means that your application will be pushed into the regular applicant pool to be reviewed again in February or March. If this happens, you're no longer bound to the enrollment agreement you made and can therefore apply to any other schools under regular decision. You might also consider sending along other information, such as a recommendation letter or mid-year grades, that could help make your application stronger. Popular schools with early decision policies include the following: Brown Cornell Dartmouth Duke Johns Hopkins Northwestern University of Pennsylvania Some schools that offer both Early Decision I and Early Decision II deadlines are as follows: American University Boston University Bowdoin Brandeis Colby NYU Pomona Smith Tufts Vanderbilt Wesleyan There are lots of other early decision schools besides these well-known, competitive schools. You'll find the full list below. Complete List: Schools Offering Early Decision Here's the full list of schools with early decision, organized alphabetically by state. Starred schools offer both Early Decision I and Early Decision II. Scroll through the list or hit ctrl + F to find specific schools you're interested in! *School offers both Early Decision I and II Arizona Elmira College* Prescott College Five Towns College California Fordham University Claremont McKenna College* Hamilton College* Harvey Mudd College* Hartwick College Loyola Marymount University Hobart and William Smith Colleges* Occidental College* Ithaca College Pitzer College* Jewish Theological Seminary* Pomona College* Manhattan College Santa Clara University Marist College* Scripps College* Nazareth College* University of San Francisco New York University (NYU)* Colorado Rensselaer Polytechnic Institute (RPI)* Colorado College* Rochester Institute of Technology Connecticut Sarah Lawrence College* Connecticut College* Siena College Fairfield University* Skidmore College* Lyme Academy College of Fine Arts St. John Fisher College Mitchell College St. Lawrence University Quinnipiac University SUNY College of Environmental Science and Forestry (SUNY-ESF) Sacred Heart University SUNY Fredonia Trinity College* SUNY Geneseo University of New Haven SUNY Maritime College Wesleyan University* SUNY Old Westbury District of Columbia SUNY Oswego American University* Syracuse University Catholic University of America* Union College* George Washington University* University of Rochester Florida Utica College Flagler College Vassar College* Florida Southern College Webb Institute Rollins College* Wells College University of Miami* North Carolina Georgia Davidson College* Agnes Scott College Duke University Emory University* Elon University Morehouse College High Point University* Spelman College Meredith College Wesleyan College Wake Forest University* Illinois Warren Wilson College Augustana College Ohio Governors State University Case Western Reserve University* Lake Forest College College of Wooster* Moody Bible Institute Denison University* Northwestern University Kenyon College* Indiana Miami University DePauw University Oberlin College and Conservatory* Earlham College* Ohio Wesleyan University Saint Mary's College Wittenberg University Wabash College Oregon Iowa Lewis Clark College Cornell College* Reed College* Grinnell College* Pennsylvania Kentucky Allegheny College* Centre College Bryn Mawr College* Maine Bucknell University* Bates College* Carnegie Mellon University Bowdoin College* Dickinson College* Colby College* Drexel University College of the Atlantic* Duquesne University Maryland Franklin Marshall College* Goucher College Gettysburg College* Johns Hopkins University Grove City College Loyola University Maryland Haverford College* Maryland Institute College of Art Juniata College* McDaniel College* Lafayette College* Salisbury University Lebanon Valley College Washington College* Lehigh University* Massachusetts Lycoming College Amherst College Muhlenberg College Babson College Pennsylvania Academy of the Fine Arts Becker College Susquehanna University Bentley University Swarthmore College* Boston University* University of Pennsylvania (Penn/UPenn) Brandeis University* Ursinus College* Clark University Washington Jefferson College College of the Holy Cross Rhode Island Gordon College Brown University Hampshire College* Bryant University* Merrimack College Providence College* Mount Holyoke College* Rhode Island School of Design Northeastern University South Carolina Smith College* Furman University Springfield College* Presbyterian College Stonehill College Wofford College Tufts University* Tennessee Wellesley College Rhodes College* Wheaton College* Sewanee: University of the South* Williams College Vanderbilt University* Michigan Texas Hillsdale College Austin College Kalamazoo College* Rice University Minnesota Southern Methodist University* Carleton College* Texas Christian University Hamline University Texas Lutheran University Macalester College* Trinity University* St. Olaf College* Vermont Missouri Bennington College* Cox College Champlain College* Washington University in St. Louis Marlboro College Nebraska Middlebury College* Nebraska Wesleyan University Sterling College New Hampshire Virginia Dartmouth College Christopher Newport University New Jersey College of William and Mary Drew University* Emory Henry College Ramapo College of New Jersey Hampden-Sydney College Stevens Institute of Technology* Hollins University The College of New Jersey* Lynchburg College New York Roanoke College Albany College of Pharmacy and Health Sciences University of Richmond* Alfred University Virginia Military Institute Bard College Virginia Polytechnic Institute and State University (Virginia Tech) Barnard College Washington and Lee University* Clarkson University Washington Colgate University* University of Puget Sound* College of New Rochelle Whitman College* Columbia University Wisconsin Cooper Union for the Advancement of Science and Art Beloit College* Cornell University Lawrence University *School offers both Early Decision I and II Should You Apply Early Decision? Now that you've had a chance to look over the chart, let's look at themain factors you'll want to considerbefore deciding whether to apply early decision to a school. Ask yourself the following questions: Have you done a lot of research on your top school? Have you visited and explored its campus? Do you have solid reasons for wanting to attend this school? And have you felt this way for at least several months? If you answered yes to these questions, it sounds as though you've been thorough in deciding on your top school.If you're unsure, tend to change your mind, or aren't excited about attending the school, then early decision probably isn't a good choice for you. Remember, when applying early decision, you're making a binding commitment. In other words, you're agreeing to enroll in that school if accepted- regardless of whatever financial aid offer you receive. Now, some schools claim to meet all demonstrated financial need, but there's no guarantee that your package will be what you want (or need) it to be. Therefore, in addition to learning all about your school of choice, make sure toconsider this financial piece when applying early decision. If you have any questions or concerns, try calling your school's financial aid office for advice. Finally, make sure you're sending off your strongest application possible.Months of planning and prep will likely be needed to achieve yourtarget SAT/ACT scores, gather quality letters of recommendation from teachers, and write yourpersonal statement. Up next, we give you suggestions for scheduling your college planning in advance of your early decision deadline. College-Planning Schedule for Early Decision Applicants Because applying to college has a lot of components that require time and help from your teachers and counselor, it's critical tostart early and keep track of relevant information and materials. Write down all the requirements for your early decision school, check your progress, and set deadlines to make sure you get everything done in time. The application requirement you should start preparing the earliest is the SAT/ACT, both in terms of test prep and taking the actual tests. For early decision deadlines, the latest you can take the SAT/ACT is typically September or October. Since you want to have enough opportunities to take the test and improve your scores, it's best to follow one of these two schedules: Schedule Option #1 Take the SAT/ACT for the first time in the spring of your sophomore year Take the SAT/ACT a second time in the fall of your junior year Take the SAT/ACT a third time in the spring of your junior year Schedule Option #2 Take the SAT/ACT for the first time in the fall of your junior year Take the SAT/ACT a second time in the spring of your junior year Take the SAT/ACT a third time in the fall of your senior year Your goal might be to have your SAT/ACT scores all set by the end of your junior year so you don't have to worry about achieving your target scores on that last test date your senior year. If you're applying Early Decision II with a January deadline, you'll have a little more wiggle room in terms of available SAT/ACT test dates. In addition, be sure to plan out your recommendation letters and personal essay. Ask for your rec letters (and any other documents you need the school to send such as your transcript) at least a month in advance of your deadlines- typically by October. You might also ask junior-year teachers at the end of your junior year. Asking at this time can be a good idea regardless of your college deadlines since your junior-year teachers will remember you most clearly then. Finally, work on your personal essay over the summer,leaving several months to brainstorm ideas and work through drafts and revisions. Your personal essay is your chance to share your voice with the admissions committee, so give yourself time to say exactly what you want to say. Try to work on your Common Application or school application in the fall, proofreading for errors and gathering all theimportant informationyou'll need such as extracurriculars. Make sure to discuss with your counselor your reasons for applying early decision,and finally have your parents and counselor sign the early decision agreement form for you. Applying this way will signal your commitment and excitement about a school to admissions committees. You can impress them even further with a thoughtful, thorough application that demonstrates exactly why you'd be a great fit at their college. What's Next? Now that you know all the schools that offer early decision, check out their Early Decision I and Early Decision II deadlines. Interested in schools that offer the less binding option of early action?This article has the full list of early action schools and their deadlines. Are you aiming to get into a competitive Ivy League-level school? Our in-depth guide offers valuable insight into the admissions procedures of selective colleges as well as advice on how to build a highly impressive college application. Want to improve your SAT score by 160points or your ACT score by 4 points?We've written a guide for each test about the top 5 strategies you must be using to have a shot at improving your score. Download it for free now:

Evaluating Learning and Development Activities PowerPoint Presentation

Evaluating Learning and Development Activities - PowerPoint Presentation Example ROI is a measure of the financial benefits received by a firm over a period of time in return for the costs incurred on a training activity. One way of computing ROI is by comparing the resulting benefits to the costs incurred. Some of the benefits that may result include labor savings, increased productivity and other costs savings. Some of the costs incurred include design and development, administration, and materials/facilities costs. Using this method, percentage ROI is obtained by dividing the total benefits by the total costs times 100%. Another way of measuring ROI is by using the payback period method which entails the determination of the period taken for the benefits received to cover the costs incurred on the programme. The shorter the payback period the more attractive the training programme (Phillips & Phillips, 2008). The initial basic approach to evaluation is to determine the current performance levels and the skills of the members. This is done before the training so that it can be used as a benchmark after the activity. A structured questionnaire can be used to assess the skills and the performance levels of the participants. This tool is the most suitable since it is accurate and it gathers specific information that is required in the evaluation of the participants after the training (Phillips, 2010). Measuring the reactions of the participants during and after the training, is another useful approach. This is used to assess the appropriateness of the training to the learners, how well the subjects were covered and how they intend to apply the acquired skills. Open discussions can be used as a tool for measuring this parameter. This tool is advantageous since direct responses are received from the participants. It would be easy to tell if they liked the training or not, and if they learned new skills (Bramley, 2003). The skills acquired and the learning level can also

Cars without drivers Essay Example | Topics and Well Written Essays - 1500 words

Cars without drivers - Essay Example The development of autonomous cars began in the 1920’s with the first autonomous car being launched in 1984 BY Carnegie Mellon University. Since then, Mercedes-Benz, BMW and other companies have developed prototypes of the vehicle. The technological rush for computerised objects has led to the rapid evolution of the automobile industry. In 2013, autonomous cars were driven in a traffic jam with normal cars and the states of Nevada, California, Michigan and Florida have made legislations allowing the autonomous cars. Other countries such as Germany, France and UK are also taking steps to embrace this technological advancement The main catalyst for the development of autonomous cars is the exponential rise in road accidents that are mainly caused by human carelessness and errors. As a result, the UK government has invested over 8 million pounds to enhance research and development of these driverless cars to cause a revolution in transportation. According to Mitchell (2015), electric shuttles with no steering wheels will be launched in the summer in Greenwich, UK. Also, The Google Company is the world leader in autonomous cars research since 2010 and already tested its autonomous cars and revealed its findings to the public. However, the developers of these cars have been unable to prepare the cars for unforeseeable circumstances such as flooded roads and other rare incidences, making the cars not as safe. The Google developing team stated that they will need to record these situations as they arise and make precautions for them. Google is hopeful that in the next five years, the driverless cars will be much safer than human drivers and will be the new mode transportation for people. Various modifications such as WI-FI connections are expected to be added. The V2V (Vehicle-to-vehicle) WI-FI radios would enable cars to warn each other of any situations that could be dangerous. The chief executive of Peleton Technology, Mr Josh Switkes states

Billing and Coding Essay Example for Free

Billing and Coding Essay Healthcare Common Procedure Coding System (HCPCS) Level II entail nationwide codes used to report supplies and services offered within outpatient locations to Medicaid and Medicare patients that are left out by HCPSC Level I (Current Procedural Terminology -CPT) code. Recent HIPAA federal regulations require regular electronic claims to have Level II regulations. Many big countrywide players, like employee’s compensation financiers, acknowledge HCPCS level II regulations. Local Medicare transporters, business publishers, CMS, or Ingenix provide such codes (Smith, 2003). Suitable HCPCS level II regulations come before CPT codes regarding Medicare invoicing. However, numerous private players choose National Drug Codes (NDC) or Level I regulations instead of HCPCS Level II regulations, which may confuse medical care experts, thus causing denial of claims. Medical care experts ought to confirm that they are describing the correct regulations to the appropriate players through careful tracking of the billing and reporting needs of specific players. Level II regulations Describes Many heath products, however, such codes do not name real products or endorse them by assigning codes. Additionally, generation of such codes happens separate from reimbursement issues. Therefore, Level II regulations only serve to indicate the availability of a service or product in the wider health system, as opposed to justifying reimbursement (Smith, 2003). Players individually develop HCPCS Level II regulations’ criteria and rules which vary between players. HCPCS Level II regulations are comprised of a single alphabetical character (from A to V), then 4 digits. Letter ‘I’ is excluded since it may easily be confused with number ‘1’. Every letter group represents one or more areas of comparable services or products. Every letter group, and code illustrations from specific sections, are fully described on ensuing screens (http://docs. google. com/gview? a=vq=cache:DIuMS2X_QrgJ:www. ngsmedicare. com/ngsmedi are/DMEMAC/educationandSupport/ToolsandMaterials/SupManual/chapter14. pdf+Level+II+o +HCPCS+applies+and+Medicarehl=engl=ke). A regulations deal with various products and services, particularly tracheostomies, urologicals, and ostomies-related supplies. A codes also include Affordable DME, or equipments costing not more than $150, such as nebulizer substitution equipment. A code subcategories include: transport services; surgical and medical supplies; and miscellaneous, investigational, and administrative supplies and services. B codes handle parenteral and enteral nutrition services and supplies. B code-reported supplies include: feed supplies; dietary solutions; formulae; and combination pumps. C codes cover services compensated under Medicare’s OPPS -Outpatient Prospective Payment System. They don’t cover services compensated under different Medicare reimbursement systems. Private entities as well use C codes for compensation. Such codes are mandated by Medicare to report: biological, devices, and drugs qualified for intermediary pass-through imbursements for health facilities; and items categorized within fresh technology Ambulatory Payment Classifications (APC). D codes entail dental regulations. The American Dental Association (ADA) has copyrighted the Current Dental Terminology (CDT). ADA supplies such codes to CMS. E codes document Durable Medical Equipment (DME) like crutches, canes, commodes, walkers, pacemakers, restraints, wheelchairs, hospital beds, and patient lifts. G codes report professional medical care services and processes such as specialized services being considered for incorporation within the CPT code scheme and provisional procedures. National Medicaid organizations legally mandated to develop separate systems for recognizing psychological health services such as drug therapy and alcohol services use H codes. J codes describe drugs which are not normally self-administered, immunosuppressive and chemotherapy drugs pant solutions, plus other solutions and drugs. The proper code depends on factors like; dose; and administration route. K codes entail temporary DME, drugs, and supplies codes. They are generated when the relevant existing nationwide codes exclude codes needed to execute medical evaluation policies. Once endorsed for lasting incorporation into HCPCS, such codes become E, J, and A codes. L codes comprise of scoliosis apparatus, prosthetic insertions, orthopedic shoes, plus prosthetic and orphic devices and procedures. M codes cover medical services and they include: M0064; M0075; M0100; M0300; and M0301. P codes cover laboratory and pathology services and include screening laboratory and pathology services like testing Papanicolaou procedures and serum products (Smith, 2003). Q codes report many supplies and services including provisional cast provisions codes which facilitate splints and casts reimbursement after the modification of Medicare’s compensation technology. Such codes substitute ambiguous splinting and casting supplies’ codes. R codes cover analytic radiology services and document moving of moveable electrocardiogram or x-ray apparatus to patients’ homes, nursing homes, or different facilities. The Health Insurance Association (HIAA) Blue Cross/Blue Shield Association (BCBSA) uses S codes to document services, supplies, and drugs without countrywide codes, but where private entities require codes for program and policy implementation or processing of claims. Medicaid recognizes such codes; nonetheless, such are not payable. T codes report supplies and services without other stable codes. Medicaid does not accept T codes; however, they may be recognized by private entities. They describe: substance abuse therapy; home and nursing-related services; and training-related processes. V codes cover supplied and services concerned with hearing, vision, plus speech-language pathology. Vision-related provisions include: lenses; spectacles; and ocular prostheses. Hearing services consist of: hearing analyses; and hearing equipment and supplies. Speech language pathology processes include: modification or repair of supportive communication device or system; and dysphagia, language, and speech screening (http://www. lectureshare. com/download. php? q=HCPCS+overview_021532. pdfr=doc. J). References Coding:aTheaUseaofaHCPCSaLevelaIIaCodesa. Retrieved August 6th 2009 from http://www. lectureshare. com/download. php? q=HCPCS+overview_021532. pdfr=doc. J Jurisdiction B DME MAC Supplier Manual. (June 2009). Level II codes and HCPS modifiers. Retrieved August 6th 2009, from http://docs. google. com/gview? a=vq=cache:DIuMS2X_QrgJ:www. ngsmedicare. com/ngsmedicare/DMEMAC/educationandSupport/ToolsandMaterials/SupManual/chapter14. pdf+Level+II+of+HCPCS+applies+and+Medicarehl=engl=ke Smith, G. I. (2003). Basic CPT/HCPCS coding. Retrieved August 6th 2009, from http://library. ahima. org/xpedio/groups/public/documents/ahima/bok1_016767. pdf

The play of to Kill a Mocking Bird. Discuss how you would produce :: English Literature

The play of to Kill a Mocking Bird. Discuss how you would produce the incident in which Atticus shoots the rabid dog "The play of To Kill a Mocking Bird" was adapted from a novel by Harper Lee. The story is set in Maycomb, Alabama in 1935, when racism was rife. The play deals with racism and shows how the blacks were exploited. The play is split into two acts; Act One is about a black man being wrongly accused of raping a white woman. It is in Act Two that the audience finds out that the legal system would wrongly convict a man, just because he is black. There are many incidents which occur in this play, but the one I am going to consider is when Atticus shoots the rabid dog. The part of the play where the incident of Atticus shooting the rabid dog occurs starts with Jean. At this point the spot light would be on Jean as she steps onto the stage and starts speaking. The incident is introduced when she says:- "Then a few weeks later something happened- something that made our father even more of a puzzle. The tension in the town about the approaching trial was getting drum-tight, but what happened had nothing to do with that - it had to do with a liver coloured bird dog called Tim." While Jean says that she would probably be standing at the front of the stage in the spot light. Behind her would be the set; which would comprise of the front of houses in Maycomb. At this point Jem and Scout would enter the stage, with Jem pulling Scout, and talking about Tim; although they do not realise he has rabies. Soon after, Calpurnia, a black housekeeper, would come onto the stage, as though she has just come out of the house; she would be wiping her hands on a tea towel. Calpurnia is not interested in the dog at this moment as she says in a sharp tone:- "What is it Jem? I can't come out every time you want me." It is not until Jem imitates the dogs actions - gulping like a gold fish and hunching his shoulders - that Calpurnia becomes interested. Unsure as to whether to believe Jem, Calpurnia points her finger at Jem and says with her voice hardening:- 'You tellin' me a story, Jem Finch? Jem goes on to explain how the dog is moving, he says 'Just moseyin' - but walkin' funny.' It is then that Calpurnia realises that the dog has rabies, and so hurries inside to call for help. At this point, she would have a

American Dream In The Great Gatsby Essay

What is the American dream? Is it white picket fences with beautiful green lawns and comfortably large brick houses? According to Dictionary.com the American dream is â€Å"the ideal that every US citizen should have an equal opportunity to achieve success and prosperity through hard work, determination, and initiative†. The American dream is a theme that is often used in American literature just like F. Scott Fitzgerald’s The Great Gatsby. This novel presents the American dream as an illusion that can never be achieved. Daisy,’s personification of the American dream, Daisy’s choice of Tom over Gatsby, Myrtle’s death, and the green light are all representative of the unreliability of the American dream. Daisy is a crucial character who represents the unattainable American dream. When Gatsby unsuccessfully attempts to get Daisy back after five years, this shows how the American dream is unreachable. Gatsby in love with Daisy five years ago, got the disapproval stamp from Daisy’s parents since he didn’t have â€Å"pomp and circumstance†, unlike Tom Buchanan, who did (Fitzgerald 75). As a result, Gatsby tries to fix himself by becoming a financially successful man in a bootlegging business.. Gatsby states that Daisy’s â€Å"voice is full of money†, because it reveals that Gatsby has hope to win back Daisy since her and Tom had married (120). The irony in this attribute of Daisy is that Gatsby can become successful and wealthy for her, but cannot have Daisy, his one love and desire. Daisy represents the American dream because there is an excitement in her voice that makes men come running. This makes her desirable, much like the American dream. Also, when Jordan elaborates that Daisy never desired to attain love â€Å"yet there’s something in that voice of hers†, she shows how deceiving Daisy’s voice is, like when Jordan is su ddenly distracted by Daisy’s voice (77). This excitement and distraction, which is what Daisy provokes on Gatsby, is his clueless nature caused by the illusion of attaining Daisy, and thus fulfilling his American dream. When Daisy chooses Tom over Gatsby the American dream’s unattainability is shown. When Daisy confesses to Gatsby that she can’t say that she â€Å"never loved Tom†, it reveals how Gatsby is unable to truly understand how Daisy actually feels at all (133). Daisy is one way with Gatsby and another with Tom. She wants the best of both worlds, but is unable to achieve this due to her desires of prestige social status. Gatsby plans for such a long period of time by buying a house in West Egg right across the bay from her, arranging their secret meeting at Nick’s house, and reinventing himself from James Gatz into the persona of Jay Gatsby. Gatsby nonetheless must give in to failure in his attempt to claim Daisy once again. Likewise, It is physically impossible for all of us to achieve the American dream. This is what Fitzgerald, is trying to relay when Daisy chooses Tom over Gatsby. Tom and Gatsby can’t both have Daisy.

Csr Toyota

Assignment 1 / Essay Assignment question: It is sometime suggested that CSR activities are increasing strategic in that it affects that core business of the firm and its growth, profitability and survival? Drawing on an example of a corporation/company (National/ International), discuss this in the context of business strategies, in particular on the issues of competitive advantage and firm performance. Introduction In this essay, we will discuss why organizations began CSR and how it is or can be or why should it be implemented. CSR usually get started off either as an integral part of the business strategy or corporate identity, or it can be used as a defensive policy, with the latter being used more often by companies targeted by activists. Rationale for CSR implementation is based on either a moral, a rational, or an economic argument (Werther & Chandler, 2006). Campbell (2007) which is a representative of a group of studies that create testable propositions related to the conditions under which organizations will move toward CSR. Studies show that corporations’ level of social responsibility as being influenced by factors such as financial conditions of the firm, health of the economy, and well-enforced state regulations. Reason why companies take on CSR is also being discussed in the literature in terms of the specific initiatives under which CSR may fall. Ways of describing these rationales varies, from the more skeptical view of cause-related marketing to a more generous attribution of genuine socially responsible business practices (Kotler & Lee, 2005). To ascertain how CSR is implemented in organizations, some researchers uses a developmental framework to show change in awareness, strategy, and action over time, and posits stages of CSR from elementary to transforming (e. g. , Mirvis & Googins, 2006). Jackson and Nelson (2004) take more of a how-to approach, offering a principle-based framework for mastering what they call the â€Å"new rules of the game. † Examples of principles include harnessing innovation for the public good, putting people at the center, and spreading economic opportunity where in this essay will discuss on how Toyota Motor Corporation applies this. CSR of Toyota Motor Corporation Many companies have established their corporate identities using branding through CSR, which has eventually becoming a focal point of their success and competitive advantage (Werther & Chandler, 2006). Toyota Motor Corporation recognizes corporate social responsibilities and emphasis on safety, the environment and education to offer to people the tools needed to make a difference to help and protect the environment. The company operates under the guidance of a global earth charter that promotes environmental responsibility throughout the organization worldwide. Toyota becomes the leader in leading the industry to lower emissions and improving fuel economy vehicles. Not only did Toyota create the world's first mass-production gas/electric hybrid car, they are also working ahead in the development of future fuel cell vehicles. (Toyota. com 2011) Toyota Motor Corporation’s commitment to preserving the environment doesn’t stop at just their vehicles. Two of their manufacturing plants have been designated as zero landfill producing operations. Green† complex in California has one of the largest commercial solar panel systems in North America which conserves more than 11 Million gallons of drinking water annually through special pipelines that supply recycled water for cooling and landscaping. (Toyota. com 2011) In addition, contributing to their dedication in environmental preservation, Toyota has also developed strong partnerships with organizations such as The National Arbor Day Foundation and The National Environmental Edu cation ; Training Foundation. The corporation partners with organizations, schools, universities and other businesses to support programs that help make the world a better place. Toyota Motor Corporation has a variety of national programs like Toyota Driving Expectations Safety Program, Toyota Youth For Understanding Summer Exchange Scholarship Program, Toyota International Teacher Program, National Center for Family Literacy, Toyota Community Scholars, United States Hispanic Chamber of Commerce Internship Program and others. Strategic Models of CSR Strategic planning as opposed to operational planning concerns the general long-term planning of a Toyota Corporation with the aim to gain economic advantages in the competitive market place. Operational planning in contrast incorporates concrete short- or medium-term activities in line with the strategic goals of the company (Wohe 1993: 141). A strategic plan usually consists of an analysis of the firm and its environment, the development of strategic goals and alternative strategies, the assessment, evaluation and selection of strategic alternatives, and the implementation, evaluation and control of the strategies (Grant 2005, Hopfenbeck 1997: 40) in which Toyota Corporation did when they came up with their CSR It has been demonstrated by Porter and Kramer that a strategic approach to CSR can incorporate competitive advantages for Toyota Corporation but even more importantly, it allows for an integrated and effective implementation of CS. Following this argumentation, an inclusive strategic model of CSR was developed combining central ideas of CSR theory with the classical model of strategic planning using narrow view and boarder view. Narrow view On the contrary, supporters of narrow view in CSR claim that Toyota corporations have just one objective- make money. They believe that caring for the environmental, society and other problems are the responsibilities of government and non-profit making organizations sponsored by governments. A bright supporter of the narrow view is as mention in Milton Friedman theory that those who claims that diverting corporations from the chase of profit makes our economic system less effective. Friedman states: â€Å"The stockholders or the customers or the employees could separately spend their own money on the particular action if they wished to do so. The executive is exercising a distinct â€Å"social responsibility,† rather than serving as an agent of the stockholders or the customers or the employees, only if he spends the money in a different way than they would have spent it† ( M. Friedman 1970). Another defender of narrow view in corporate social responsibility is famous economist Adam Smith, whose â€Å"invisible hand† argument states that if every member of society in a free market economy strives to promote his own economic interests they are led to promote the general good. This may be a good argument in other eras of economics, but using this argument to justify for support of the narrow view will reasonably arise criticisms. The hand-of-government argument of the narrow view states that businesses should have no social role other than making oney. According to inept-custodian argument business executives lack    moral and social expertise, and can only make economic decisions. To ask executives to take charge of non-economic responsibilities is equal to putting social welfare in the hands of inept custodians. Broader view Supporter of broader view believe that Toyota Corporation have other obligations apart from pursuing profit because of their great social and economic power, Toyota corporations must carry social responsibility towards society and wider community. Businesses cannot make decisions which are made solely with economic point of view, because Toyota Corporation are interrelated with the whole social system. Business activities have deep implications for society. As a result, society expects Toyota Corporation to pursue other responsibilities as well. A social contract between society and business represents a unstated understanding within society about the proper goals and responsibilities of business. This social contract is an on-going process of negotiation and change. Conclusion This is the basic reason why the doctrine of â€Å"social responsibility† involves the acceptance of the socialist view that political mechanisms, not market mechanisms, are the appropriate way to determine the allocation of scarce resources to alternative uses. The New York Times Magazine (1970) To illustrate, it may well be in the long run interest for Toyota Corporation that is a major employer in a small community to devote resources to providing amenities to that community or to improving its government. That may make it easier to attract desirable employees, it may reduce the wage bill or lessen losses from pilferage and sabotage or have other worthwhile effects. Or it may be that, given the laws about the deductibility of corporate charitable contributions, the stockholders can contribute more to charities they favor by having the corporation make the gift than by doing it themselves, since they can in that way contribute an amount that would otherwise have been paid as corporate taxes. The New York Times Magazine (1970) There are many different views regarding corporate social responsibility. Some people defend â€Å"broader view† saying that corporations should contribute back to society from their profits they make by selling their products and services to the members of that society. Others defend â€Å"narrow view† justifying they stand by claiming that executives are not moral agents and it would be a mistake to include to the scope of their responsibilities to care about nature, wider community and society in general. My personal view is that profit maximization should not be the only objective of any business corporations. Every company uses resources to manufacture its products or bring its services. These resources include land, human resources, and other resources from nature including gas, water, oil, etc. The fees the companies pay for these resources when obtaining them are insignificant if one compares them with the huge amount of profits companies make when manufacturing products using these resources. Corporations must, therefore, contribute part of their earnings to society and environment as a way of paying back, even if they have paid when obtaining resources. Thus, I agree to â€Å"broader view† in Corporate Social Responsibility and Toyota Motor Corporation is justly and generously contributing to environment and the society and considered a model corporation fulfilling its corporate responsibilities. Referencing Alessia D'Amato, 2009. Corporate Social Responsibility and Sustainable Business: A Guide to Leadership Tasks and Functions. Edition. Center for Creative Leadership. Campbell, J. L. (2007). Why would corporations behave in socially responsible ways? An institutional theory of corporate social responsibility. Academy of Management Review, 32, 946–967. Grant, Robert M. (2005): Contemporary Strategic Analysis, 5. ed. Malden, Oxford, Carlton Hopfenbeck, Waldemar (1997): Allgemeine Betriebswirtschafts- und Managementlehre: Das Unternehmen im Spannungsfeld z Jackson, I. A. , & Nelson, J. (2004). Profits with principles: Seven strategies for delivering value with values. New York: Doubleday. Kotler, P. , & Lee, N. (2005). Corporate social responsibility: Doing the most good for your company and your cause. Hoboken, NJ: John Wiley & Sons. Mirvis, P. , & Googins, B. K. (2006). Stages of corporate citizenship: A developmental framework [Monograph]. Chestnut Hill, MA: The Boston College Center for Corporate Citizenship. The New York Times Magazine, September 13, 1970. Copyright @ 1970 by The New York Times Company. Werther, W. B. , Jr. , & Chandler, D. A. (2006). Strategic corporate social responsibility. New York: Sage Publications.

6 Tips to Liven Up Your Lectures

6 Tips to Liven Up Your Lectures Many graduate students find themselves at the head of the classroom, first as teaching assistants and later as instructors. However, graduate study often doesn’t teach students how to teach, and not all grad student instructors first serve as TAs. Instead, most graduate students find themselves instructing a college class with little to no teaching experience. When faced with the challenge of teaching despite little experience, most grad students turn to the techniques they have experienced as students. The lecture method is a common teaching tool. A poor lecture is painful for both students and the instructor. Lecturing is a traditional method of instruction, perhaps the oldest form of instruction. It has its detractors who argue that it is a passive means of education. However, the lecture is not always passive. A good lecture is not simply a list of facts or a reading of the textbook. An effective lecture is the result of planning and making a series of choices - and it need not be boring. 1.  Dont Cover It All Exert restraint in planning each class session. You will not be able to cover all of the material in the text and assigned readings. Accept that. Base your lecture on the most important material in the reading assignment, a topic from the reading that students are likely to find difficult, or material that doesnt appear in the text. Explain to students that you wont repeat much of the material in the assigned readings, and their job is to read carefully and critically, identifying and bringing questions about the readings to class. 2.  Make Choices Your lecture should present no more than three or four major issues, with time for examples and questions. Anything more than a few points and your students will be overwhelmed. Determine the critical message of your lecture and then remove the adornments. Present the bare bones in a succinct story. Students will absorb the salient points easily if they are few in number, clear, and coupled with examples. 3.  Present in Small Chunks Break up your lectures so that they are presented in 20-minute chunks. Whats wrong with a 1- or 2-hour lecture? Research shows that students remember the first and the last ten minutes of lectures, but little of the intervening time. Undergraduate students have a limited attention span - so take advantage of it to structure your class. Switch gears after each 20-minute mini-lecture and do something different. For example, pose a discussion question, a short in-class writing assignment, a small group discussion, or problem-solving activity. 4.  Encourage Active Processing Learning is a constructive process. Students must think about the material, make connections, relate new knowledge to what is already known, and apply knowledge to new situations. Only by working with information do we learn it. Effective instructors use active learning techniques in the classroom. Active learning is a student-centered instruction that forces students to manipulate the material to solve problems, answer questions, examine cases, discuss, explain, debate, brainstorm, and formulate questions of their own. Students tend to prefer active learning techniques because they are engaging and fun. 5.  Pose Reflective Questions The simplest way of using active learning techniques in the classroom is to ask reflective questions. These are not yes or no questions, but those that require students to think. For example, â€Å"What would you do in this particular situation? How would you approach solving this problem?† Reflective questions are difficult and will require time to think, so be prepared to wait for an answer. Endure the silence. 6.  Get Them Writing Rather than simply pose a discussion question, ask students to write about the question first for three to five minutes, then solicit their responses. The benefit of asking students to consider the question in writing is that they will have time to think through their response and feel more comfortable discussing their views without fear of forgetting their point. Asking students to work with the course content and determine how it fits with their experiences enables them to learn in their own way, making the material personally meaningful, which is at the heart of active learning. In addition to the educational  benefits, breaking up a lecture and interspersing it with discussion and active learning takes the pressure off of you as the instructor. An hour and 15 minutes, or even 50 minutes, is a long time to talk. Its also a long time to listen.  Try these techniques and vary your strategies to make it easier on everyone and increase your likelihood of success in the classroom.

Time Dilation Effects in Physics

Time Dilation Effects in Physics Time dilation is the phenomenon where two objects moving relative to each other (or even just a different intensity of gravitational field from each other) experience different rates of time flow. Relative Velocity Time Dilation The time dilation seen due to relative velocity stems from special relativity. If two observers, Janet and Jim, are moving in opposite directions and as they pass by each other they note that the other persons watch is ticking slower than their own. If Judy were running alongside Janet at the same speed in the same direction, their watches would be ticking at the same rate, while Jim, going in the opposite direction, sees both of them having slower-ticking watches. Time seems to pass slower for the person being observed than for the observer. Gravitational Time Dilation Time dilation due to being at different distances from a gravitational mass is described in the general theory of relativity. The closer you are to a gravitational mass, the slower your clock seems to be ticking to an observer farther from the mass. When a spaceship nears a black hole of extreme mass, observers see time slowing to a crawl for them. These two forms of time dilation combine for a satellite orbiting a planet. On the one hand, their relative velocity to observers on the ground slows time for the satellite. But the farther distance from the planet means time goes faster on the satellite than on the surface of the planet. These effects may cancel each other, but also can mean a lower satellite has slower-running clocks relative to the surface while higher-orbiting satellites have clocks running faster relative to the surface. Time Dilation Examples The effects of time dilation are used often in science fiction stories, dating back to at least the 1930s. One of the earliest and most well-known thought experiments to feature time dilation is the famous Twin Paradox, which demonstrates the curious effects of time dilation at its most extreme. Time dilation becomes most apparent when one of the objects is moving at nearly the speed of light, but it manifests at even slower speeds. Here are just a few ways we know time dilation actually takes place: Clocks in airplanes click at different rates from clocks on the ground.Putting a clock on a mountain (thus elevating it, but keeping it stationary relative to the ground-based clock) results in slightly different rates.The Global Positioning System (GPS) has to adjust for time dilation. Ground-based devices have to communicate with satellites. To work, they have to be programmed to compensate for the time differences based on their speeds and gravitational influences.Certain unstable particles exist for a very brief period of time before decaying, but scientists can observe them as lasting longer  because they are moving so fast that time dilation means the time that the particles experience before decaying is different from the time experienced in the at-rest laboratory that is doing the observations.In 2014, a research team announced the most precise experimental confirmation of this effect yet devised, as described in a Scientific American article. They used a particle accelerat or to confirm that time moves slower for a moving clock than for a stationary one.

City plan of Philadelphia. PA Essay Example | Topics and Well Written Essays - 3000 words

City plan of Philadelphia. PA - Essay Example Now is the time to set in place a plan for that future so that current and future residents can once again feel the pride and joy from living in the city of ‘brotherly love’ and a home known for its acceptance of immigrants from all cultures and ways of life. This plan for a new Philadelphia is designed to span only ten years, as time cannot be wasted to get the city back on track towards that prosperity and free and independent city that Philadelphia is known for and certainly deserves to realize once again. Philadelphia’s Present Condition Many urban cities in America are currently facing problems of various sorts. Philadelphia is certain no exception. From infrastructure to education, and budgetary to water issues, Philadelphia is currently going through its fair share of challenges that threaten its very existence. One aspect of Philadelphia that has seemingly not changed over the years, however, is the resiliency of the people. The residents of the city are a vid sports fans, devoted to the area, and consist of multiple generations of families that have called Philadelphia home through the centuries. As such, while these conditions paint a dire picture, they do not truly capture the essence and sprit of the city as a whole. Problems can certainly hurt development and growth, but Philadelphia is well positioned to confront any challenge that it faces and often will arise being a stronger and more determined people as a result. Let us consider for a moment the current state of various issues within the city of Philadelphia as a whole. The first noticeable trend is that, after years of decline, the population of the city has recently started to rise once again. This indicates a movement back to the city a trust in the promise of the future, in spite of the current difficulties currently being encountered. In addition, with all of the negatives being encountered by the educational system, it is encouraging to note an increase in test scores. With the passing of the No Child Left Behind Act in 2001, Philadelphia has encountered over a decade of failing schools systems and poor performance on mandated state testing. While there is still much work to be done in this regard, and Philadelphia as a whole still possesses a most fractured and disjointed educational system, the progress being currently demonstrated is promising and encouraging to the residents of the city. Prior to 2011, Philadelphia had one of the lowest high school graduation rates of urban cities within the United States. Recently, however, even this statistic has begun to reverse itself into positive territory. There graduation rates throughout the city have actually gone up in recent years, and it is estimated that the percentage of adults that have obtained a college degree is now nearly 23 percent. This is figure that many residents of the city thought they would never see. Truth be told, however, these numbers do not paint the whole story. The physical buildings housing many of the city’s educational institutions are crumbling due to age and lack of proper maintenance. The District has long been plagued with budgetary concerns, and the teacher’s have had numerous labor disagreements with the city in recent years. This, coupled with demographic issues also facing Philadelphia has created a perfect storm of trouble for

Diabetes management Essay Example | Topics and Well Written Essays - 3500 words

Diabetes management - Essay Example lood glucose monitoring, oral and insulin therapies, Furthermore, the essay examines the role of multidisciplinary teams in offering patient-centered diabetic care and patients with such conditions. Lastly, the paper has critically detailed the physical, psycho-social and cultural impact of diabetes on clients and their families. The essay incorporates a case study of type 2 diabetic patient with pressure ulcers in his diabetic feet and associated conditions such as unitary and bowel incontinence, but has not adequate knowledge of management and care of his diabetic feet. The essay has adhered with ethical conduct of Nurses and Midwifes since the identity of the patient has been altered to John in order to protect confidential medical information of the client. The case study has been included in the appendix. Anderson and Rubin (2000) agree with Edmonds (2013) that diabetes results from several biological, environmental and lifestyle factors that lead to abnormal metabolism and hyperglycemia. Foster and Edmonds (2013) conquers with Cheyette (2005) that diabetes is a life-long condition that is associated with high glucose in the blood since the pancreas is incapable of producing enough insulin that is essential in regulating the blood sugar levels. I agree with Cheyette (2005) that John is experiencing high sugar levels due to inability to produce enough insulin. As Anderson and Rubin (2000) have outlined, insulin initiates the signal transduction whereby the glucose will enter the bloodstream for it to be stored as energy in the muscles or converted to fat by the liver. Tuomi (2005) confirms that insulin signals the liver to convert glucose to glycogen in case the body has sufficient energy. From the analysis, I believe insufficient of insulin affects metabolism processes in the body of John. The Health Commission (2007) explains that some critical pathophysiological aspects of type 2 diabetes include impaired secretion of insulin and increased body resistance

Social Networking Security Issues and the emerging threats to users of Essay

Social Networking Security Issues and the emerging threats to users of these websites - Essay Example In this research I will outline the main security threats that have emerged recently because of extensive web based environment. This main focus of this research is to assess the social networking security. Social networks are common among the present generation and people are extensively participating in these areas. The main reason behind this participation is the availability of the huge knowledge and information at the same place. This allows the participation in different social activities, exchange knowledge, and experience, making friends, and also business marketing. These social networks offer us great advantage for all above mentioned tasks but also a great challenge for the personal privacy attacks and other type of security issues. The uniqueness of social network sites is not that they permit individuals to meet strangers, however rather that they facilitate people to develop and make recognizable their social networks. This can result in communication among users that would not in other ways be made, although that is not the major objective, and these communications are normally between "latent ties" the people sharing some offline connections (Boyd & Ellison, 2007). One thing can be concluded from the above discussion that there are security threats connected with social networking: data stealing and viruses are growing threats. The most widespread threat however frequently engages online individuals who declare to be someone that they are not. However, threat does survive not only with online networking; they also remain with networking out in the actual world, as well. For instance people are advised when meeting unknown persons at clubs and bars, school etc. So we should be careful when meeting people on line (What is Social Networking, 2009). Social networking websites have turned out to be a family name in todays world. No matter, it is our

External And Internal Determinants Of Capital Structure Finance Essay

External And Internal Determinants Of Capital Structure Finance Essay 1: Introduction 1.0 Introduction The literature on capital structure theory has made significant progress after the trend setting publications of Modigliani and Miller in1958. After the publication of Modigliani and Miller research work, various researchers have developed theoretical models based on the balancing of tax effect and inefficient distribution of information. Recently, there are many models that focus on the relationship between product and market or the effect of a particular ownership structure on the capital financing decisions of a firm (Bhaduri 2002). These models have been developed pertaining to many different sectors of economy such as manufacturing by Long and Malitz (1985) and Titman and Wessels (1988). Miller and Modigliani (1966) tested these models in the context of power generating and electric companies, while Jensen and Langemeier (1996) have focused on the agricultural firms. Among the noteworthy models proposed by researchers, the static trade off theory carries the primary importance. Modigliani and Miller (1958) contended that the static trade off theory is based on the assumption of friction and information-wise perfect markets. They also proposed the irrelevance theorem which implies that the financing decisions of firms have nothing to do with the value of organisation and their cost of financing. Titman and Wessels (1988), Rajan and Zingales (1995) and Graham (1996) have conducted their empirical research to investigate the important determinants of capital structure proposed in the theoretical models by finance commentators. In the majority of research, they found that firms decisions to achieve the target capital structure are spontaneous. In the imperfect market, these target ratios are not instantaneous and incomplete while in perfect market, these financial decisions are perfect and spontaneous. It means that firms try to adjust their optimal capital structure spontaneously as the cost of capital varies in the market. Marsh (1982), Jalilvand and Harris (1984) found that the main impediments in the way of adjusting capital structure are the adjustments and transaction cost associated to market imperfections. These imperfections arise due to the inefficiencies in financial market such asymmetric distribution of information and transaction cost etc. These researchers have found that the firms financial decisions usually taken in a two step process. Marsh (1982) and Jalilvand and Harris (1984) explained that in the first step, a firm decide its target capital structure and in the next phase, it strives to attain that target. Spies (1974), Taggart (1977), Jalilvand and Harris (1984) and Ozkan (2001) stated that financial behaviour of a firm can be best described by the partial adjustment model. In this partial target adjustment model, it is assumed that a firm adjusts to the target capital structure spontaneously. One common attribute in the research is that the capital structure of a firm varies with the change in industry type. Even after the efforts of numerous researchers, no single universally accepted capital structure theory exists. There are also a comparatively small number of empirical researches conducted up till now on this topic. One possible reason for the small number of empirical research is the intangible and conceptual nature of determinants proposed by the authors (Titman and Wessels 1988). However, the available empirical research has focused on certain factors such as the size of firms; profitability and volatility of earnings before interest, tax and depreciations etc. These determinants came out after the studies conducted in the developed countries such as the United States (USA) and the United Kingdom (UK). After the integration of markets, it is becoming increasingly more important to study these markets to test the validity of these determinants. Because of the confl icting ideas pertaining to the financial behaviour of firms, it is important to have practical research based on theoretical foundations to establish a valid capital structure determinant model. 1.1 Objective This research paper will endeavour to determine the factors which serve as an impetuous for changing the capital structure of firms across the different industries operating in the United States of America (USA). The main objective of this research will be achieved investigating the relationship between following determinants; Capital structure and profitability Capital structure and tangibility Capital structure and economic growth of the country Capital structure and rate of inflation Another objective is to find and evaluate the impact of internal forces which play an important role in changing the capital structure of a firm. Literature Review: 2.0 Introduction This chapter attempts to establish the theoretical foundation of determinants of capital structure. First of all, the effect of different industry types on the capital structure has been given. Then the different capital structure theories have been described. After that, all the possible external and internal determinates of capital structure has been discussed. Lastly, the latest development in the macro and micro environment, which have significant bearing on the capital structure of a film, are discussed 2.1 External and Internal Determinants of Capital Structure In this time of financial distress, where many companies are facing impending bankruptcy because of the liquidity crunch and mismanagement of resources, it is imperative for financial managers to use the optimal mix of debt and equity in order to drive down the cost of capital and thereby increasing the profitability of their firms. Another impetuous for using optimal mix is that the financial analysts, investment houses, common stock buyers and bond rating bureaus usually compare the financial leverage of a firm with industry average figures before taking investment decisions (Moyer et al. 2009). Hence, it is in the very interest of a firm to decide its optimal capital structure in order to make its financial health more conducive to further investment by yielding handsome returns (DeAngelo and Masulis 1980). As per definition, capital structure of a firm is the mix of the total long and short term debt plus the total amount of equity (both preferred and common) which is raised by a company to finance its total capital requirements (Investopedia 2009). According to Brigham and Ehrhardt (2001), there are many internal and external factors which a financial manager has to be mindful of before chalking out business plans and policies. Similarly, decisions of capital structure are the outcome of many internal and external variables (Brigham and Ehrhardt 2001). External variables consist of many macroeconomic factors such Gross Domestic Product (GDP), unemployment, inflation, interest rates and tax policies etc (Besley and Brigham 2007). GDP is the accumulated market worth of finished goods and services produced within the boundaries of a country during a particular period of time, usually one year (Investopedia 2010). Nominal GDP (inflation not adjusted) should not be confused with real GDP (inflation adjusted) as the increase in nominal GDP (merely increase in prices) doesnt mean that country has made more money during a certain period (Investopedia 2010). Inflation means the rate of increase in the prices of goods and services over a period of time, usually measured by the Consumer Price Index (CPI) and GDP deflator (a ratio of nominal and real GDP) (Investopedia 2010). Some other important variables of macro economy are the economic growth, budget deficit and poverty. These macroeconomic factors indicate the aggregate economic performance of an economy (Investopedia 2009). As these macroeconomic factors are the result of many sub factors which collectively make a very complex economic system (Campbell, McConnell and Brue 2008). These factors, by nature, are out of the control of a firms manager so he/she cannot influence the determinants. They instead have to adjust the proportion of debt and equity according to their respective costs. Some other important external variables which affect a specific capital structure are the taxation, profitability, the interest expense, the effect of agency cost and the level of business risk faced by the company (Moyer, McGuigan and Kretlow 2009). Besides these external variables, there are many internal factors which a business manager has to consider before selecting a particular mix of debt and equity. These internal variables can be the industry specific variables such as the effect of seasonal levels of sales or these can be the internal to the firms such as the style and attitude of management. Entrepreneurial organisations, for example, have the tendency of taking bolder and riskier business decisions as compared to bureaucratic ones which shows more risk-averse behaviour. Among the most prominent internal variables are the level of profitability, degree of risk appetite of business managers and the tangibility of fixed assets etc. 2.2 Effect of industry type on the capital structure of a firm There are a lot of variations in the capital structure of firms across the different industries all over the world (Scott and Martin 1975). Capital structure of firms varies with the change in type of industries and even within the same industries (S. Titman 1984). It is evident from the Table 1 that the firms which are operating in the drugs and industrial machinery sector do not use a large amount of debt as compared to firms which are in the retail and utilities business (Brigham and Ehrhardt 2001). Some possible reasons are the uncertainties inherent in the research projects carried out by these firms or the chances of product liability law suits (Brigham and Ehrhardt 2001). Due to the low level of debt financing, these firms are also experiencing low level of financial distress (i.e. the times interest earned ratios are high) as compared to the other sectors as shown in table 1 (Brigham and Ehrhardt 2001). However, the firms which belong to the utilities sector usually rely heavily on debt financing which is evident from their common equity ratio as shown in table 1 (Brigham and Ehrhardt 2001). The major portion of total debt comprises of long term debt which they usually raise by issuing securities and mortgage bonds against their huge fixed assets (Brigham and Ehrhardt 2001). Another rational behind this phenomenon is the stable sales figures as compared to the other firms which have volatile sales (Brigham and Ehrhardt 2001). This factor enables these types of firms to use more debt financing because they can easily forecast the expected level of future sales and can have an optimal business risk (Brigham and Ehrhardt 2001). 2.3 Theoretical Foundations of Capital Structure Franco Modigliani and Merton Miller (famous as MM) (1958) are pioneers, having studied the impact of internal and external determinants on the capital structure of an organisation (cited in Bhaduri 2002). In the years since, there has been a large volume of research by many researchers to determine the individual effect of these environmental factors on the capital structure of a firm in different countries of the world (Al-Najjar and Taylor, 2008). Modigliani and Miller proposed that in a supposed no-competition world, the value of a firm is independent of its capital structure (cited in Bhaduri, 2002). Further they also assumed that their theory is valid under the assumptions of perfect competition, no taxation cost, not transaction cost. They also stated that the productivity of firms is not dependent on mode of financing (cited in Bhaduri, 2002). In the above mentioned scenario, internally generated sources of funds are almost the perfect substitute of external funds (Bhaduri, 20 02). Hence, companies are indifferent to the sources of financing. After the publication of their work, researchers have found some imperfections such as Kim (1978) introduced the idea of bankruptcy cost. The idea of facility of tax shield was introduced by DeAngelo and Masulis (1980) and the agency cost by Jensen and Meckling (1976). All these researchers agreed that the optimal capital structure is the most realistic solution to the capital structure dilemma faced by the todays firms. As the cost and benefits of leverage changes from one industry to the other, many previous researchers are of the opinion that industry must have significant impact on the capital structure of firms (Scott and Martin 1975). Every firm tries to chase the average industry ratios (Tucker and Stoja, 2007). Ang (1976) said that firms can only have an optimal gearing ratio rather an ideal universal ratio for all in the real world scenario. Remmers et al. (1974) agreed with the Ang (1976) by stating the gea ring ratio of firms varies with industries. They also said that firms that belong to the same industries face same environmental conditions which lead them toward common earning and sales patterns (Remmers, Wright and Beekhuisen 1974). Scott (1972) and Scott and Martin (1975) said that most of the firms tries to choose the gearing ratio that is appropriate to their risk/return profile and their inherent business risks. Antoniou et al. (2002) found that the UK, German and French firms continuously adjust their debt ratios according to the target ratio, but at their own rates which is contingent to whether they belong to the manufacturing or services sector. Bradley, Jarrel and Kim (1984) said that the agency cost and bankruptcy cost are just the partial determinants of leverage. It means that these factors also have impact on the capital structure of firm but in a less likely fashion. Many researchers endeavoured to tackle the issue of optimal capital structure (Bhaduri 2002). All these works have collectively contributed in the development of financial theory (Bhaduri 2002). In spite of all these efforts, there is no one comprehensive solution to the capital structure dilemma (Titman 1984). Moreover there have been very little practical evidence regarding determinants of capital structure till recently (Harris and Raviv 1991).The main reason behind this limited number of empirical research evidence on this topic is the abstract nature of determinant such as size of firms, their growth rates, intensity of capital, gross profits, volatility of future sales and free cash flows and the impact of taxation on changes in the capital structure of a firm (Harris and Raviv 1991). Another important issue is pertaining to the geographical locations that most of the available research works have focused on the United States of America (USA) market (Bhaduri 2002). Less economically developed countries (LEDCs) lag behind due to the neglected role of the private sector in the economic development of country and the limited sources of funds for the companies belonging to the LEDCs (Bhaduri 2002). 2.4 Main Factors Influencing the Capital Structure of a Firm The chief determinants of capital structure are the attributes and factors that have very significant impact on the leverage ratio of a firm. The following is the detail of the most relevant determinants of capital structure of a company. Asset Structure According to the agency cost and asymmetric information theories, the composition of tangible assets owned by a company greatly affects its capital structure (Jensen and Solberg 1992). Agency cost theory states that shareholders of a firm, which has high proportion of debt in its capital structure, have the intention to invest sub-optimally (Galai and Masulis 1976; Jensen, Solberg and Zorn 1992). A positive relationship has also been found between the collateralisable assets and debt structure of a firm. Another factor is the over consumption habit of business managers which ultimately reduces the value of a firm (Bhaduri 2002). Financial Distress If a firm is using a huge amount of debt and it has to pay heavy payments periodically, there is very high probability that it will go bankrupt in the case of falling revenues or future free cash flows (Brigham and Ehrhardt 2001). This implies that the firms, which are having volatile sales figures, usually use less debt financing in order to avoid probable financial distress (Ensen and Meckling 1976). Fear of bankruptcy forbade the firms to rely heavily on the debt financing (Bhaduri, 2002). Non-Debt Tax Shield DeAngelo and Masulis (1980) said that one of the firms objectives of using debt financing, is to avail the benefit of a tax shield because interest expense reduces the taxable income of a firm. So the firms which have a large non-debt tax shield are likely to use less debt financing. Size There are is large number of evidences that the firms which are large in size and well diversified are less likely to experience financial distress (Demsetz and Lehn 1985, Remmers, Wright and Beekhuisen 1974). This encouraged them to use relatively large amount of debt financing (Warner 1977; Ang and McConnell 1982). Age The age of firm is also a very pertinent factor that influences the firms decision about having a specific of capital structure (Scott 1972). Young firms are more intended to use debt financing because of the high appetite for risk taking and limited amount of information at hand (Scott 1972). So they find borrowing from banks a cheaper and convenient way as compared to use equity financing. Growth Fast growing firms experience a higher cost of agency problem as compared to the firms which not growing very fast. Bhaduri (2002) said that fast growing firms have more chances of adjustments in the coming years. Hence there is a negative correlation between the longer term debt and the future growth of a firm. Myers (1977) said that the short term debt is the remedy to this problem. By doing this, fast growing firms dont need to enter into long term debt contrast and can easily adjust their capital structure according to the requirements of growth and financial conditions (S. Myers 1977). Profitability If managers of a company are not capable and credible enough to convince venture capitalists to lend capital, they will preferentially rely on the internal sources of revenue (e.g. retained earnings) (Myers and Majluf 1984). Myers and Majluf (1984) noted that profitable firms usually have more money as retimed earning in order to invest in the growth projects. Hence there must be negative relationship between debt proportion and historical profitability of the company (Myers and Majluf 1984). Uniqueness It is found that the firms which are producing unique kind of products usually have low leverage ratio (Bhaduri 2002, Antoniou, Guney and Paudyal 2002). These firms face great difficulty in borrowing debt from the financial institutions because in case of liquidation, their assets cant be used for some other substitute purposes (Auerbach 1985). Industry effect It is one of the most important variables that affect the capital structure of firms (Harris and Raviv 1991). The companies which belong to those industries where there is greater degree of uncertainty in the research projects and expected future sales, they rely less on debt financing (Remmers, Wright and Beekhuisen 1974). Contrary to this, the firms which have more level of certainty in their future cash flows and huge amount of fixed assets, they intended towards more debt financing (Remmers, Wright and Beekhuisen 1974). Maksimovic and Zechner (1991) said that the diversity of technologies used by firms is also the key determinant of using their capital structure. They argued that the firms which are using multiple technologies have the facility of sourcing capital from various sources of financing (Maksimovic and Zechner 1991). Where these firms can raise their funds from multiple sources, they can also reduce their risk by spreading over the wide range of technologies (Maksimovi c and Zechner 1991). 2.5 Most Important Capital Structure Theories 2.5.1 Static trade-off theory This theory of capital structure assumes that company should pursue a financing mix where tax shield advantage should be equal to the interest rate expense, keeping the other factors constant such as credit crunch and probability of bankruptcy costs (Jensen and Meckling 1976). This theory mainly deals with the pros and cons of issuing fixed asset securities like debt (S. Myers 1977). It assumes that there exists an optimal point under which the value of the firm is maximized. This optimal point is achieved by balancing the benefits and cost of issuing more debt (Myers 2001). One of the main advantages of issuing more debt is to take the benefit of tax deductable. This simple benefit can be more complicated when manages and owners have to pay personal tax and the issue of an absence of tax shield (Myers 2001). Debt financing also reduces the chances of agency conflict (Maksimovic and Zechner 1991). The rational is that the use of debt reduces the amount of free cash flows at the dispo sal of managers and there reducing the chances of conflict between managers and shareholders (Jensen and Meckling 1976). 2.5.2 The Trade-Off Theory of Capital Structure The basic idea behind this theory is that a firm normally conducts the cost-benefits analysis before taking any decision regarding its capital structure (Tucker and Stoja 2007). It means that company will just rule out the possibility of convenience in this important financial aspect as stated by the pecking order theory (Jensen and Meckling 1976). In spite of criticism by Miller (who called it a comparison of horse and rabbit), the advanced dynamic model of this theory is very robust and practical (Tucker and Stoja 2007). 2.5.3 Pecking order theory The pecking order theory talks about the cost of asymmetric information (Myers and Majluf, 1984). It says that firms choose their sources of financing according to the rule of least effort or least resistance (Myers and Majluf 1984). This implies that the firms will choose the equity financing as a financing mode of last resort (Myers and Majluf 1984). According to this theory, firms will prefer debt financing as long as it is feasible and when it is no longer possible, then they will opt for equity financing (Myers and Majluf 1984). 2.6 Capital Structure and Financial Risk The Financial risk of a firm is the risk associated with a lack of a sufficient amount of future free cash flows in order to meet its short term obligations (Brigham and Ehrhardt 2001). In other words, financial risk also increases as the use of fixed income securities increases like preferred stock increases in the total financing of the firm (Harris and Raviv 1991). Brigham Ehrhardt (2001) asserted that as the amount of debt increases in the overall mix of capital structure, the degree of financial leverage increases. Financial leverage means that the total amount of debt that is used in the capital structure of a firm (Harris and Raviv 1991). Another related concept is that of operating leverage which means that the portion of fixed cost used in the total cost of production of a particular product or range of products (Moyer, McGuigan and Kretlow 2009). Investors are very much concerned about the financial risk of firms because this is the kind of additional risk which they have to bear because of debt financing besides equity, in the firms total capital structure (Brigham and Ehrhardt 2001). It is the main objective before the financial managers to design the capital structure so that the value of the firm is maximized and at the same time mitigate the risk at hand (Harris and Raviv 1991). To gauge the financial risk of a firm, Times Interest Earned (TIE) ratio carries special importance in the eyes of these investors (Besley and Brigham 2007). Times interest ratio is of immense importance to analyse the true interest cost coverage ability of a firm (Brigham and Ehrhardt 2001). TIE depends upon three important factors: the amount of debt in the total capital structure, the cost of debt and the profitability of the firm (Haugen 1995). Usually the industries which are less leveraged such as Drugs and electronics etc. have a very high TIE ratio (Brigham and Ehrhardt 2001). However, the firms which are in the business of retailing or utilities which rely more on debt financing, have low interest coverage ratios (see table1) (Brigham and Ehrhardt 2001).There are also variations in the capital structure of individual firms operating in the same industry due to the different attitude of managers and their particular risk/return profiles (S. Myers 1977). The firms where manger s are more aggressive and have high risk appetite usually use more debt financing than those firms where managers are risk-averse (Hull 2008). The tools used to find the optimal capital structure are EBIT/EPS Analysis and EPS indifference Analysis (Brigham and Ehrhardt 2001). 2.6.1 EBIT/EPS Analysis Earnings Per Share (EPS) of a firm vary with changes in the amount of debt in the capital structure of a firm (Warner 1977). Theoretically, as the amount of debt increases in the capital structure, the financial risk increases (Warner 1977). Because of this high financial risk, investment houses change higher interest rates for the further debt which ultimate increases the cost of capital for a firm (Brigham and Ehrhardt 2001). Surely extra amount of financial leverage increases the capability of a firm to earn higher earnings per share in the coming years (Jensen and Solberg 1992). Brigham Ehrhardt (2001), however, suggested that EBIT/EPS ratio should range from 0 to 5%. To find the exact point in this range, financial managers have to conduct an EPS indifference analysis. 2.6.2 EPS indifference analysis The purpose of this analysis is to find out the point where a firm is insouciant as to whether it uses debt or equity for the same ratio of EPS (Brigham and Ehrhardt 2001). Brigham and Ehrhardt (2001) found that a firm will report higher EPS at a low level of sales and firm is using the more equity than debt. On the other hand, an organization will experience faster increase in EPS with the increase in sales if a firm is using more debt than equity (Brigham and Ehrhardt 2001). The point worth noting is that if business managers are confident about a certain level of sales of their firm, they should go for debt financing and vice versa (Besley and Brigham 2007). Financial risk of a firm is usually measured by interest coverage ratio, fixed charge coverage ratio and longer debt ratios (Moyer, McGuigan and Kretlow 2009). These ratios are usually compared with industry average ratios to gauge the true financial health of a firm (Moyer, McGuigan and Kretlow 2009). These ratios are also compared to the previous years ratio of the same firm to determine the trend of firms performance over a period of time (Brigham and Ehrhardt 2001). The Financial risk of a firm depends upon a number of factors such as financial leverage, Operating leverage, expected future free cash flows and so on. Because of the intense competition and uncertainty in the market, it becomes essential for the finance executives of companies to manage the risk of their organisations by either diversification, adopting an optimal capital structure, or using the sophisticated derivative securities (Hull 2008). An optimal capital structure is to arrange the financial structure of the firm in such a way that minimises the weighted-average cost of capital and thereby maximises the value of the firms stock (DeAngelo and Masulis 1980). The dilemma here is that when a firm is trying to maximise its EPS by increasing the amount of debt, its financial risk also increases at the same time (DeAngelo and Masulis 1980). On the other hand, if a firm tries to minimise its financial distress, it has to reduce its financial leverage which ultimately hurts the EPS of the firm (Bhaduri 2002). Hence there arises the need of an optimal financial structure which increases the EPS of a firm and reduces its overall finan cial distress simultaneously (Bhaduri 2002). This choice of the optimal capital structure depends upon a number of factors such as the size of firm, its growth rate, cash flow projections and product and industry characteristics. (Bhaduri 2002). There is a school of thought advocating that derivatives are the most useful tool to hedge financial risks at the firms level (Jalilvand, Tang and Switzer 2000). Yet there is another group who believe that there are some alternative (i.e. using less debt financing) as compared to the typical hedging techniques available which can be used to reduce the financial risk at corporate level (Berkman, Bradbury and Magan 1997). From these studies, it is evident that managing the financial risk of firms is very important for firms in order to be competitive in the market place. Some companies have made internal risk management policies as part of their corporate business strategy (Maksimovic and Zechner 1991). Smith and Stulz (1985) commented on the goal of risk management in these words: The primary goal of risk management is to eliminate the probability of costly lower-tail outcomes those that would cause financial distress or make a company unable to carry out its investment strategy(p. 3 95). It is clear from the words of Smith and Stulz (1985) that the main goal of companies is to manage risk by either means. During the last decade, there has been a lot of research on the impact of industry in deciding the capital structure of firms (Booth, et al. 2001). Booth et al. (2001) studied whether the factors affecting the capital structure of firms are country specific or not. For this purpose, their study focussed on ten developing countries: India, Pakistan, Thailand, Malaysia, Zimbabwe, Mexico, Brazil, Turkey, Jordan and Korea. They reported that: In general, debt ratios in developing countries seem to be affected in the same way and by the same types of variables that are significant in developed countries. However, there are systematic differences in the way these ratios are affected by country factors, such as GDP growth rates, inflation rates and development of capital market (Booth et al. 2001 p. 118). The institutional owners who hold large amount of shares of a firm also play a very significant role in deciding the capital structure of these firms (Al-Najjar and Taylor 2008). As these owners have the right to elect the board of directors, they can influence the mangers of their firms to adopt specific risk management policies and finance capital in a certain and specific manner (Al-Najjar and Taylor 2008). 2.7 Financial market Dysfunction In developing countries, banks and other financial institutions are main sources that provide liquidity to the economic system by advancing credit to the films (Demsetz and Lehn 1985). In repressed financial system, banks provide short and medium term loans to the young and established entrepreneurs; while big and developed financial institution provide long term loans to the big corporation (Kester 1986). These loans are mostly given to the particular sectors of national economies such as agriculture and transport and housing (Antoniou, Guney and Paudyal 2002). Governments used to influence these commercial institutions to favour certain sectors and advance soft credit to the small industry (Leech 1987). Regularity agencies mostly restrict the banks from advancing credit to certain limits (DeAngelo and Masulis 1980). Antoniou, Guney and Paudyal (2002) said that the limitation on the financial institutions by the authorities result in the form of credit rationing. Another hu