Commercial Law Dissertation Essay Example | Topics and Well Written Essays - 5000 words

Commercial Law Dissertation - Essay Example ea of regulation that administers different types of possession (ownership) in real property and in personal possessions surrounded by the common law structure. In the civil regulation scheme, there is a separation among variable (movable) and immovable goods. Movable goods approximately correspond to personal goods, at the same time as immovable goods are real estate or real property, and the connected rights and duties thereon. Commercial law is the body of rule that oversees trade and operations. It is often considered to be a branch of civil law and deals both with issues of private law and public law. Commercial law regulates corporate contracts, hiring practices, and the manufacture and sale of consumer goods. There is also a vast difference between in the rights of ownership and possession in English commercial law. The law and regulation, associated to rights of ownership, will not provide any preference to any exact type of property rights. Right of possession is the authori ty to work out power or authority above the real possessions. A right to ownership can be formed by a variety of legal deals for example: deed, rent, life, estate, will etc. It is necessary to examine the differentiation among Property and Ownership, where goods are most precisely explained as the thing or object to be possessed, and possession is the act of owning, or association that the proprietor has with his belongings. There is also dissimilarity among "ownership", and "possession". Ownership is the condition of exclusive rights and power above the possessions which may be anything, soil or intellectual property. At the same time, right of possession means that somebody presently holds or possesses something. â€Å"There are various legal aspects to the ownership of a property in English law. We will try and cover them all in this section of the website. They include The research aim and methodology of the study is to help us understand the difference between the rights of

Business Studies - Recruitment and Selection Essay Example for Free

Business Studies Recruitment and Selection Essay Every business or organisation has a recruitment department, which is often undertaken by recruiters. It can be undertaken by an employment agency or even a member of staff at the business organisation. Human resources run the recruitment process. Recruitment (run by the human resource department) is the process of finding the right possible candidates for the job. When the organisation knows what candidates they re looking for Advertisement is commonly used for recruiting the right employees. Recruitment process: A business or organisation must have a work plan in order to make sure that they find the right number of employees for their needs. When a business is looking to recruit new employees they need to be able to mention and define the main jobs and responsibilities that will be expected. During the recruitment process there are many stages that need to be followed In order to select the right candidate for the job. The recruitment flow chart: Job analysis: Job analysis is the first part of the recruitment process. This is when the human resources department needs to identify whether a new member of staff is needed or could the work be done by reorganizing existing staff or working over time. Or even consider whether part-time or full time appointment needed. Job analysis is essential for the recruitment process and this defines whether they need workers and is so will the business recruit internal or external employees. The human resources department will need to decide whether to recruit employees internally or externally. Recruiting internal candidates will benefit the business as this will increase their workers morale and their motivation will increase because there is a higher chance of them getting promoted than the external employees. Another advantage of recruiting an internal employee is theres a lower cost of not having to go through training, as they already know the business. However the disadvantage is having to replace their internal workers. External candidates will also help gain advantage for the organisation as they will let the business find out more about the competition, gaining more ideas. The disadvantage of recruiting an external employee is the cost of training them to learn more about the business. Job description: A job analysis can be used to create a job description. The job description will describe how a particular employee is to fit into the organisation. A job description could be used as a job indictor for applicants. Alternatively it could also be used as a guideline for an employee to his or her role and responsibilities within in the organisation. Job descriptions can be used by organisations to provide information for use in drafting a situation vacant advertisement and for briefing interviews. he function for a job description can be very simple. Its when the businesses human resources department will need to draw up a list of tasks that the job will involve and the responsibilities of the person appointed. This is good for a business to draw a list up of their specific job description as this gives not only employers but also employees an idea of what theyre looking for. So therefore the business will most likely attract workers that they appointed for. Person specification: Armed with this sort of specification, those responsible for recruiting and selecting someone to do a particular job have a much clearer idea of the ideal candidate. However at the same time those applying for the job have a much clearer idea of what is expected of them and whether they have the skills and attributes. The human resources department may set out for its own use a person specification. The meaning of person specification is identifying the personal qualities for example qualities such: * Experience: Someone with experience in carrying out a particular job who has a particular responsibilities should be able to draw on that experience n new situations. * Qualifications: Is another important part of a person specification. As they will have more knowledge then say someone who have no qualifications. Another advantage for a employee in having qualifications as this will lower the list of people wanting a job, for example if an employer has a long list of employees he/she will recruit either ones with experience or ones who have qualifications. The advantages for the person specification process in recruiting in staff, is the employers will benefit from recruiting experienced staff as they are able to do a range of tasks. This makes them more flexible workers, which in turn increases the output of the business. Customers often like to deal with experienced employees. Qualifications are also good measures of prior learning. The idea of qualification is that it prepares he employee to do a particular job or activity. Inn creating person specification, organisations will therefore need to consider the level of qualification required by a job holder. Job advert Job advertisements form an important part of the recruitment process. An organisation is able to communicate job vacancies to a selected audience by this means. Most job advertisements are written (or at least checked) By the personal department, a task involving the same skills as marketing a product. Advertisements must reach those people who have the qualities to fill the vacancy. Job advertisements take many forms, according to the requirements of the post. A good job advertisement, while providing prospect candidates with helpful information also helps to deter people who do not have the required qualifications for the job. Presentations of the advertisement is very important as it gives prospective employees a first impression of the organisation Application form: Having an application form is essential. If businesss or organisations provide an application form, it means that theyre looking for someone precise. This is good for the business, because the candidates have to right specific stuff that are required, which means the business can find the right employee. Where as some businesses ask for employees CV. In my opinion this is a disadvantage to the organisation, as the candidate can write what ever they feel, most likely something that will advantage them to getting the job. So therefore the organisation wont be able to find the right candidate to do the job. Interview: Interviews are very important in the recruitment process as this gives the employer an idea of what the employee is like and if he or her is suited for the job. Some business such as Marks and Spencers use a certain technique when interviewing new candidates. They would rather ask the interviewee open questions as this allows them to answer the question with longer sentences rather than yes or no answers. This gives the employer a bigger judgement ad a better feel on the employees personality. Business also try to focus on questions that involve; what? Why? When? And how? Generally speaking overall the interviewers should try to make the interviewee feel relaxed and comfortable so that the interviewee can show his or best side. An opening remark might be to ask the interviewee about his or her journey. Selection process: Recruitment and selection can be very costly process for a business. It takes a great deal of time to set up the process which includes drawing up a job description, advertising the position, sifting through applications, checking which application best meet criteria set down for the post, interviewing candidates and finally selecting the best candidate for the post. There is a considerable scope along the way for waste and inefficiency. For example, when a job advertisement attracts 100 applicants there will be a considerable waste of time and resources when reducing the list down to six. If you get your procedures wrong you may eliminate some of the best candidates right from the start and end up with six who are barely satisfactory. If you end up choosing an unsuitable candidate for the job, the company will suffer from having trouble within he organisation before walking out on the job and leaving the company o go through the expense of replacing him or her yet. Induction: Induction is the process of introducing new employees o their place of work, job, new surroundings and the people thy will be working with. Induction also provides information to help new employees start work and generally fit in. Once the successful applicant has been selected and offered the post, the human resources department needs to prepare a suitable induction programme for when the new induction programme which should include; * An awareness of the workings and objectives of a business. * An awareness of health and safety issues. * Requirements when absent, ill or late. * Introduction to management and workmates. * Identification of any immediate training needs. I Training needs: As part of the induction process, new employees may be introduced to new processors or software that they are unfamiliar with. The employer should explain each of these processes to new employees, question them about their experience with the processes or software and listen carefully to their answers to discover their level of experience. For example an employee may be familiar with the Microsoft office software but may not have had the experience with spreadsheets. If this is the requirement of the role, then careful questioning will determine the skill level of the employee and the training required to enable them to do their job. Training may be carried out formally through a course r more informally by a colleague or with training in a timely needs and implementing training timely manner is important to ensure the new employees are equipped with the skills to properly carry out their duties. Application form: Having an application form is essential. If businesss or organisations provide an application form, it means that theyre looking for someone precise. This is good for the business, because the candidates have to right specific stuff that are required, which means the business can find the right employee. Where as some businesses ask for employees CV. In my opinion this is a disadvantage to the organisation, as the candidate can write what ever they feel, most likely something that will advantage them to getting the job. So therefore the organisation wont be able to find the right candidate to do the job. Both Application and CV form provide same information: Motivation theories: Financial: Wages, salaries and bonuses: Wages- time rate: Under this scheme workers receive a set rate per hour. Any hours worked above a set number are paid at an overtime rate Salary: flat rate: This is a set rate of weekly or monthly pay, based on a set number of hours. It is easy to calculate and administer but does not provide an incentive to employees o work harder. Piece rate: This system is sometimes used in the textile and electronics industries, among others. Payment is made for each item produced that meets quality standards. The advantage of this is that it encourages effort motivates workers. However it is not suitable for jobs that require time and care. Also many jobs particularly in the service sector produce outputs are impossible to measure. Bonus: A bonus is paid as an added encouragement and motivation towards employees. It can be paid out f additional profits earned by the employer as a result of the employees effort and hard work or as an incentive to workers at times when they might be inclined to slacken effort for example at Christmas and summer holiday times. Commission: Commission is a payment made as a percentage of sales a salesperson has made. Output related schemes: Output related schemes are the most common methods used to reward manual workers most schemes involve an element of time rates plus bonus or other incentive. Standards are set in many ways, varying from casual assessment to a detailed work study, based on method study and work measurement. A standard allowable time is set in according to the stages. The workers pay is then determined according to the success of the third stage. Performance related pay: In recent year, the emphasis in a number of organisations has shifted towards performance related pay. Performance is assessed against working objectives and company goals scoring systems are then worked out to assess performance against objectives and these distinguish levels of attainment, e.g. high, medium or low. Managerial jobs are most affected by performance related pay. Based on performance appraisal techniques, such as schemes have been adopted in a wide range of occupations, including the police force, universities, insurance and banking. Evidence indicates that up to three quarters of all employees are now using some form of performance appraisal to set pay levels. One way of rewarding performance is to give increments as targets are met, with the employee progressing up an incremental ladder each year. Profit sharing: Profit sharing is an incentive tool which involves giving profit related pay to employees or giving them bonuses based on the profit performance of a business. Using this approach employees are able to see the that the success of the company will also lead to personal rewards for them. Another example similar to profit sharing is a theory called the attribution theory which is often compared to profit sharing and the non financial appraisal. Attribution theory: All business have a need to explain the world, both to themselves and to other people, attributing cause to the events around them. This gives us a greater sense of control. When explaining behaviour, it can affect the standing of people within a group (especially ourselves). When another person has erred, the business will often use internal attribution, saying it is due to internal personality factors. When they have erred, they will more likely use external attribution, attributing causes to situational factors rather than blaming ourselves. And vice versa. They will attribute our successes internally and the successes of our rivals to external luck. When a football team wins, supporters say we won. But when the team loses, the supporters say they lost. Business attributions are also significantly driven by our emotional and motivational drives. Blaming other people and avoiding personal recrimination are very real self-serving attributions. They will also make attributions to defend what they perceive as attacks. businesses will point to injustice in an unfair world. They will even tend to blame victims (of us and of others) for their fate as we seek to distance ourselves from thoughts of suffering the same plight. They will also tend to ascribe less variability to other people than ourselves, seeing themselves as more multifaceted and less predictable than others. This may well because they can see more of what is inside themselves (and spend more time doing this). In practice, we often tend to go through a two-step process, starting with an automatic internal attribution, followed by a slower consideration of whether an external attribution is more appropriate. As with Automatic Believing, if we are hurrying or are distracted, we may not get to this second step. This makes internal attribution more likely than external attribution. Share options: Employees may be encouraged to take up shares in a company, often as part of a reward scheme. When employees take up these share options they are then rewarded according to the performance of the business. When the business does well so too does the value of their shares and the dividends they receive as a return to shareholders. Dividends are typically paid twice a year. Non-Financial: Goal setting: Establishing goals for employees to work towards can be an important motivational factor as the achievement of these goals then creates a sense of achievement and personal fulfilment. Goals can be established for an individual, team or for the whole organisation and achievement may be related to promotion at work. In order to direct ourselves we set ourselves goals that are: * Clear (not vague) and understandable, so we know what to do and what not to do. * Challenging, so we will be stimulated and not be bored. * Achievable, so we are unlikely to fail. If other people set us goals without our involvement, then we are much less likely to be motivated to work hard at it than if we feel we have set or directed the goal ourselves. When we are working in the task, we need feedback so we can determine whether we are succeeding or whether we need to change direction. We find feedback (if it is sympathetically done) very encouraging and motivating. This includes feedback from ourselves. Negative self-talk is just as demotivating as negative comments from other people. Depending on the type of goal we have, we will go about achieving it differently. A directional goal is one where we are motivated to arrive at a particular conclusion. We will thus narrow our thinking, selecting beliefs, etc. that support the conclusion. The lack of deliberation also tends to make us more optimistic about achieving the goal. An accuracy goal is one where we are motivated to arrive at the most accurate possible conclusion. These occur when the cost of being inaccurate is high. Unsurprisingly, people invest more effort in achieving accuracy goals, as any deviation costs, and a large deviation may well more. Their deliberation also makes them realize that there is a real chance that they will not achieve their goal. When we have an accuracy goal we do not get to a good enough point and stop thinking about itwe continue to search for improvements. Both methods work by influencing our choice of beliefs and decision-making rules. Goal setting can be compared, in a financial sense with performance related pay as employees are rewarded in accordance with goals set by the company. Perks and status symbols: Perks and status symbols are useful motivational tools in a company. A perk is something extra that you get for doing a particular job. For example employees of a railway company may get free rail travel for them and their families. A cinema employee may get free cinema tickets. Status symbols are also important motivators. Obvious status symbols n is having a bigger office, or having a sign outside your door with your name on. People often respond very favourably to status symbols because these mark them out as being special therefore employees will be motivated to work harder in order for them to be the special person. Appraisals: Common stages of staff appraisals are as follows: 1. The line manager meets with the job-holder to discuss what is expected. The agreed expectations may be expressed in terms of targets, performance standards or required job behaviours- attributes, skills and attitudes. 2. The outcome of the meeting is recorded and usually signed by both parties. 3. The job-holder performs the job for a period of six months a year 4. At the end of the six months period the jobholder and line manager or team leader meet again to review and discuss progress made. They draw up action new action plans to deal with identified problems and agree targets and standards for the next period. Meeting training needs: Mentoring needs: Mentoring and coaching are seen by many organisations as essential ways of motivating employees so that they feel valued and cared for in their work. Mentoring involves a trainee being paired with a more experienced employee. The trainee carries out the job but uses the mentor to discuss problems that may occur and ho best to solve them. This approach is used in many lines of work. For example it is common practice for trainee teachers to work with a mentor who s responsible for their early training and development. The student teacher will match the mentor teacher before starting his or her own teaching. The mentor will then give ongoing guidance to the student teacher on how best to improve his or her performance. If the student teacher has any problems or difficulties he or she can talk to the mentor for advice. Coaching: Coaching involves providing individuals with personal coaches in the workplace. The person who is going to take on the coaching role will need to develop coaching skills and ill also need to have the time slots for the coaching to take place. The coach and the individual being. Acquired needs theory: Need are shaped over time by our experiences over time. Most of these fall into three general categories of needs: * Achievement (nAch) * Affiliation (nAff) * Power (nPow) Some businesses may have different preferences and will tend have one of these needs that affect the business more powerfully than others and thus affects our behaviors: * Achievers seek to excel and appreciate frequent recognition of how well they are doing. They will avoid low risk activities that have no chance of gain. They also will avoid high risks where there is a significant chance of failure. * Affiliation seekers look for harmonious relationships with other people. They will thus tend to conform and shy away from standing out. The seek approval rather than recognition. * Power seekers want power either to control other people (for their own goals) or to achieve higher goals (for the greater good). They seek neither recognition nor approval from others only agreement and compliance. Identifying preferences A common way of discovering our tendencies towards these is with a Thematic Apperception Test, which is a set of black-and-white pictures on cards, each showing an emotionally powerful situation. The person is presented with one card at a time and asked to make up a story about each situation. Using it Challenge achievers with stretching goals. Offer affiliation-seekers safety and approval. Beware of personal power-seekers trying to turn the tables on you or use other Machiavellian methods. Make sure you have sufficient power of your own, or show how you can help them achieve more power. Defending Understand your own tendencies. Curb the excesses and, especially if you seek affiliation, beware of those who would use this against you and for their own benefit alone. * Atrribution theoryprofit sharing (financial) and appraisal ( non financial) We all have a need to explain the world, both to ourselves and to other people, attributing cause to the events around us. This gives us a greater sense of control. When explaining behavior, it can affect the standing of people within a group (especially ourselves). When another person has erred, we will often use internal attribution, saying it is due to internal personality factors. When we have erred, we will more likely use external attribution, attributing causes to situational factors rather than blaming ourselves. And vice versa. We will attribute our successes internally and the successes of our rivals to external luck. When a football team wins, supporters say we won. But when the team loses, the supporters say they lost. Our attributions are also significantly driven by our emotional and motivational drives. Blaming other people and avoiding personal recrimination are very real self-serving attributions. We will also make attributions to defend what we perceive as attacks. We will point to injustice in an unfair world. We will even tend to blame victims (of us and of others) for their fate as we seek to distance ourselves from thoughts of suffering the same plight. We will also tend to ascribe less variability to other people than ourselves, seeing ourselves as more multifaceted and less predictable than others. This may well because we can see more of what is inside ourselves (and spend more time doing this). In practice, we often tend to go through a two-step process, starting with an automatic internal attribution, followed by a slower consideration of whether an external attribution is more appropriate. As with Automatic Believing, if we are hurrying or are distracted, we may not get to this second step. This makes internal attribution more likely than external attribution. Sex discrimination act 1975 Sex Discrimination Act 1975 The Sex Discrimination Act 1975 applies to men, women and gender reassignees and states that it is unlawful for an employer to discriminate or fail to prevent discrimination against a worker because of his or her gender, marital or gender reassignment status The Sex Discrimination Act 1975 states that there are two types of sex discrimination: Direct discrimination This occurs where a worker has been treated less favourably than another in similar relevant circumstances on the grounds of his or her gender, and the treatment has resulted in dismissal, denial of opportunities within or for employment or training, or any other detriment. Indirect discrimination This occurs where a provision, criterion or practice is applied equally to both male and female workers and three conditions are jointly fulfilled: * The proportion of one gender who can comply is, in practice, considerably smaller than the other; * A worker suffers a detriment as a result; * The employer cannot show the condition or requirement to be objectively justifiable. For example, indirect sexual discrimination could occur if an employer applied a redundancy policy by selecting only part-time workers. This is because such action would discriminate disproportionately against women, as over 80% of part-time workers in the United Kingdom are women. Race relation act 1976 The race relations act 1976 makes discrimination on racial grounds unlawful in employment, training education and the provision of goods, facilities and services. The act defines two main types of discrimination: direct discrimination and indirect discrimination. Direct discrimination Direct discrimination occurs when someone Is treated less favourably on racial grounds. Racial grounds do not only include grounds of race but also those of colour, nationality, citizenship and ethnic or national origin. For example a dress manufacturing company advertises in the local newspaper for a Turkish machinist, Indirect discrimination: Indirect discrimination occurs when rules, requirements, or conditions that appear to be fair because they apply equally to everyone- can be shown to put people from a particular racial group a much greater disadvantage than others and the rules cannot be objectively justified. A racial groups may be defined by race, colour, nationality and ethnic or national origin. For example an advertisement asks for ability to speak Bengali. This requirement discriminates indirectly against people who do not speak Bengali and will be unlawful unless it can be justified by the nature of the job For example it would be unjustified to ask for Bengali speaker if the job involves working with people who can communicate well only in Bengali. Another example of an indirect discrimination is an advertisement invites applicants who speak English as their mother tongue. This requirement too, discriminates indirectly against people who speak English fluently, but not as their mother tongue. This kind of requirement will rarely be justified. If an especially high standard of English is needed for a particular job it would be better to ask for just that a very high standard of written and spoken English or alternatively, fluent English Example: the race relations act does not cover discrimination indirectly on religious grounds, but advertisements inviting Muslim or Christian applicants may discriminate indirectly against some racial groups, and the requirements must be justified by the nature of the job. A religious requirement may be justified for jobs connected with a church, temple, mosque etc and possibly religious organisations.

Language Barriers In Global Advertising Cultural Studies Essay

Language Barriers In Global Advertising Cultural Studies Essay Strategic advertising and marketing of recent years are not now same for each continent and country, but it started to change. Today, it is common to enhance a uniform strategy to be employed globally. Therefore, this enhancement recommends that the periodically issue of cultural changes have been obviously broken. The good side of international advertising is the creation of a integrated brand that can be known at everywhere, regardless the language it might be used. Some instances of those global brands are; Culture is a broad topic which includes everything from socially spread behavior, arts, beliefs, tradition, education and thought. It is obvious that there are going to be vital cultural differences regarding the different historical base of country. There are three main topics for culture that have normally been cited to wrong interpretations and social mistakes. Indeed if we list them: religion, sex and language spoken. Religion, is a subject most people would exactly not try to debate with a foreigner. Some changes in mind according to worship and the traditions related in it can spark some controversy. Furthermore, the persist pressure to rise the population of the value is a factor to religion being a general subject that invites social mistake and misjudge. Therefore, it is so hard to demand an international advertising promotion on a religious product without leading to protests or rumors. Cultural changes regarding gender are recognized to nearly all societies. (Gilly 1988, p .76) by the thought of advertising, it is essential to connect sex to language because language make human reality solid. 1.2 Language: Root cultural barrier Despite there are broadly spoken languages in the world like Spanish, English and Chinese, the challenge of language as a cultural obstacle is still. Being the main vehicle of expression, language becomes the root cultural barrier that differs people from one field to another. Since language is important in advertising, it is noted that the specific use of words make or cut the efficiency of a promotion. 1.3 Tackling the language barrier When designing a worldwide advertising campaign, the most important thing that international companies should remember is to decide whether they will create a standardized campaign or make varied advertisements for select countries. Language is always a key element in discussing standardization. There are cases where all the execution elements of a worldwide campaign are the same except for the language. But this is not a common scenario because most advertisers agree that the message becomes more effective when put in the vernacular instead of one standardized language. Furthermore, they also use standardization in almost all key elements more than their non-Western counterparts. (p.64) With the results of this particular study, one can say that the trend today leans toward standardizing language less since all the top agencies originate from the West. 2. MEDIA LIMITATIONS Commercial media is another effective effect on international advertisement.   Media might reduce the effects of advertising set of plan and might push the firms to underline the other aspects of promotional mixture. A firms ability to create is basically challenged while a television advertisement is restricted to ten showing one year without two exposal nearer than ten days. Advertisers affect what sort of story is interpreted. More effective, advertisements themselves form peoples opinions of the world. They are a spreading source of unreality, encouraging lack of security and movement of buyers. There are of course number of issues with the intense media. But some of the media are much better than others, judged by the criteria of accuracy, quality and independence of special interests. Most media critics seem to believe that it is possible to promote and develop enlightened, responsive, truly educative mass media. Efforts at reform can be worthwhile, but have intrinsic limits. The issues are not with media in common, but with media, namely those media that are produced by relatively few people compared to the number who receive them. Most large newspapers, radio and television stations suitable for this description. Mass media by their nature give power to a few and offer little scope for participation by the vast majority. 2.1 The power of the mass media is corrupting. The sole unexpected thing is how responsible some of the broad media are. Given the corruptions of power, revolution of the broad media, beside useful, should not be the target. Instead, the purpose should be to occupy widely media by communication systems that are more open to participation. If we focus on the usual approaches we can outline that most analyses of the media presume that there are just two options, both, state control or a free market. The problem with control by the government is that control is from a centre based. The media of military regimes and bureaucratic socialist states are infamous with their censorship. The supporters of the free market dispute that state-owned media, or narrow regulations, are noxious even in liberal democracies. The issue with free market media is that they give only a so restricted freedom, namely freedom for wide media firms and other dynamic corporate interests. Everyone is free to own a publishing company or television station. The primary issue seen as adopting a global strategy is: It is really hard for firms, especially in deeply centralized businesses, to manage all the activities of various of broadly scattered international applications. 2) The organization has to continue existing communication between headquarters and the auxiliaries. 3) When held to an intense, worldwide technique ends in a lack of reaction quality and flexibility in particular market aimed. 4) Regional leaders who are passed of self independence on their country operations might be down and cause a lack of organizational courage.(Hills, Gerald E, 1997) 3 CULTURAL DIFFERENCES AND INTERNATIONAL BUSINESS In the international area, understanding and identifying cultural distinct may make a huge change between successful business negotiations and mortifying rejections. International business communication plays a main role in this, while understanding how to communicate through what they are talking about as view is a big advantage. Every culture has their own way of saying things, what may not be offending to you may be offending to them. International business communication is all about knowing the important thing that lies behind peoples words in the international arena. International business communication is communicating across cultures and the first thing we have to keep in mind is the basic understanding that one size does not fit all. Keeping in mind that the cultural traditions or habits we have does not mean that everyone else around the world does. As it is said, When in Rome, do as the Romans do. Culture is the different ways in which people act, or consider towards themselves, families, and other people in the community. It involves traditions related with social, political, family, and religious values. Differences must be identified and recognized to bridge the gaps between cultures and for real communication to take place. Some of the effective international business communication guidelines that may help you swing that deal are: Non-verbal and Verbal behavior Each language have their own linguistic choices, and those choice help us giving clues about the specific cultures the way to act, manners, and considering. The English people use modesty and understatement, and are sometimes deliberately unclear to avoid confrontation and so kind. Oratory, expressiveness, and flowery of words are most general among Italians and the Spanish, Germans and also are so reasonable in manner. Knowing what people mean when they say yes is very important; it may mean yes, I understand but not yes, I agree. Gestures Gestures consists sensitivity and mindfulness, as gestures that are not violating to you might be so violating to the other, as in the case of indicating someone to come, some would hold out their hand with the palm up and then move the fingers gesturing the person to come. In Asian culture however, this kind of gesture is considered offensive. To gesture someone to come in Asian culture should be done with the palm facing down and then rolling the fingers. 3.1 Relationship between Culture and Advertising Advertising is thought to act as a mirror reflecting culture by transferring current cultural meanings (McCracken 1986).  By rephrasing, advertisements are taken in consideration as a model of social communication that influence the cultural values of a society (Khairullah 1995).  Meantime, advertising makes and builds new type of cultural values and meanings by affecting group identities and reinforcing stereotypes.  Therefore advertising is not sole affected by cultural values moreover behaves as an agent affecting cultural values.  Since a marketing concept, advertisers have been more fascinated in the influences of culture on buyers reaction to advertising. People prefer to live in their cultural restrictions; for instance, people have their own cultural values and norms, which affect the way they consider, feel and behave.  People in the same ethnic groups have same tendency to share the language, traditions and values,.  These shared values like culture influence peoples cognitive (beliefs and motives), affective (emotion and attitude) and behavioural (purchase and consumption) processes. Regarding this idea of advertising as a mirror, cultural values and standards are implanted in ads in such a way that consumers can see themselves and identify with the characters in the ads and feel affinity with the brands (Hong, Muderrissoglu and Zinkhan 1987).  Therefore, cultural distinctiveness in the world influences how ethnic buyers consider and acknowledge advertising messages. PART -B- 4 HIGH CONTEXT AND LOW CONTEXT COMMUNICATION Nowadays business relations, world is small. Since so many companies turn to worldwide markets, workers are finding themselves in foreign locales, dealing as never before. Nevertheless, the main thing to efficient communication for countries is an understanding of each others culture, tradition, as a working knowledge of how each society passes meaning. It is first used by author Edward Hall, the expressions high context and low context are categorises explaining inherent cultural distinctiveness between communities. High-context and low-context communication aims implying to how much speakers depend on things other than words to pass meaning. In every culture, members are supplied with particular filters that let them to concentrate sole on what community has considered significantly. Mainly, cultures that refer low-context communication will have to pay more attention to the literal meanings of words than to the context surrounding them. International advertising has gone a quite long way with combining different ties and breaking distinct borders over the world. The awareness of a product if they are placed in an area far from home, suddenly point efficiency and value. By the thought of occuring a global village with the exceeded products the world has to suggest, worldwide advertising has well worked with media in making this real. Nevertheless, cultural obstacles are still in place across the world. An opinion of a woman in Turkey cannot be same as a woman in the United Kingdom or the one from Kenya. By language as the main tool for explaining these opinions, worldwide advertising has a hard way of contending with those cultural differences due to many physical differences in language and its different interpretations. Therefore, a study has reached the conclusion that beside standardization was put to affect, sole execution and strategy are nearly all the time standardized. Language, what is thought a separate aspect, still balances the line. This outline, that it is a main belief that languages are still a hurdle that can obstruct the efficiency of a message. The numerous interpretations that can be gathered will reduce the single push that the product needs to advertise. Nevertheless, there are styles in advertising that can receive a message without the words used. Language can either be a obstruction and a tool, it is how one is going to use it what is going to decide its aim. As worldwide advertising points to promote a good that can keep busy peoples minds and affect consumer behaviors, international advertisement campaigns have to be straight forward and easy to help message of the product philosophy is not going to be lost in translation, so to speak. Understanding the cultures and their differences is primary thing in Inter cultural communication. There are various factors in communication like time, social framework and non-verbal communication. Communication itself is an exchange of information between senders and receivers, and thus, people easily refer it as a simple matter. However, communication is very complex and high-technological context to understand and to use. This complex context becomes more difficult when culture is involved. Different cultures have different ways to communicate, and by understanding how these cultures communicate, effective inter-cultural communication can be achieved.  

Economic Growth :: Economy Economics Governmental Essays

Economic growth is the most important study in economics today. The first book on economics was by Adam Smith The Wealth of Nations the full title was the Inquire Into The Nature And Sources Of The Wealth Of Nations. â€Å"Economic growth determines a countries future, and economic growth in the past determines a countries present as far as it’s material values are concerned.† (Buechner Recording) So every material value of the modern world is a result economic growth in the past, or your standard of living is the result of economic growth in the past. Economic growth in the future will determine whether or not there is rising or falling economic wealth, and coordinated with that whether or not the standard of living in the future continues to rise or fall. For example: In 1870 England was the leading industrial power of the globe, and as a consequence it also was the leading political power of the globe. According to M. Northrup Buechner the real wage rate in England is estimated to have been about 50% higher than the real wage rate in other European countries at that time. (Recording) It was about 1870 because of the rise of statist policies and ideologies that rate of growth in England started to lag behind that of the other European Countries. It didn’t lag a lot Buechner states the statistical estimate was less than one percent a year, however for a period of 10 or 20 years that’ll make a difference hardly anybody would notice. Yes maybe so, but if you compound that interest rate over 100 years what you get is what you see today. England is essentially a third rate economic power, and the real wage rate in England today is estimated to be â€Å"about 33% less than the real wage rate in other European countries.à ¢â‚¬  (Buechner Recording) In 1870 the United States in 1870 was an economically backward, internationally insignificant, and unimportant country in the world with respect to matters regarding foreign affairs. According to Buechner it was about 1870 when the United States embarked on a growth rate of over 5% percent a year, which was sustained for a period of over 40 years. (Recording) No country in the history of the world matched that record. At the end of that period about the time of World War I the United States took Britain’s place as the leading industrial power of the globe.

Bringing Fun to an Organization

The typical workplace is set up to enhance productivity and accomplishments. As such, most employees know the workplace as a place where they go to earn a living to earn a living, while accomplishing the goals set by the employer. Without putting specific effort at bringing fun to the workplace, only a small percentage of workers find some enjoyment or job satisfaction from their jobs. Seeing that this is common across many workplaces and directly affects the job output, employers have nowadays adopted ways of creating fun workplaces as a business strategy (Jeffcoat & Gibson 2006).The best way to start-off in bringing fun to the workplace is recruiting employees who have a sense of humor. According to Narisi (2008), the perfect way to gauge whether a job candidate poses a sense of humor is by watching the way he or she responds to interview questions. One of the important questions that the interviewer should answer is, is this person taking him or herself too seriously even in quest ions that do not require much seriousness? Narisi (2008) suggests the use of ‘dumb’ questions like, ‘why aren’t you married yet? ’, ‘what do you think of the paintings in our office?Among others. Greenwood (2009), states that a survey on 700 American CEOs revealed that 98 percent of them preferred interviewing job candidates with a sense of humor. Most of these CEOs attested to having a passion of not only attracting upbeat candidates, but also admitted to recruiting such and working hard to retain such in their respective organizations. After settling down with the workforce who satisfies the humor criteria, Ryan& associates (2004), suggests that employers should introduce other things like dressing for fun on specific days.Despite having the ‘dress for fun’ days in the office, the employer can encourage the staff to wear something frivolous that does not have to be visible, but serves to remind them that they should not take them selves too seriously. According to Urquhart (2003), it is the responsibility of managers to orchestrate fun in the workplace, but he or she should be cognizant of the fact that the employees create fun in the workplace. As such, the managers should act as facilitators to ensure that employees have all the resources and freedom needed to transform the workplace in to a fun place.There is controversy among analysts of just how productive a fun-filled workplace is. To this, Urquhart (2003) argues that a depressed mind is less productive than one that is jovial. In addition, fun creates a positive mental state, where employees learn to love their work and create a bond between employees who share jokes thus creating stronger work teams. Scientists also claim that fun and laughter stimulates the production of oxygen and endorphins to the brain, which results in increased creativity and clear thinking among employees (Urquhart, 2003). In the allbusimess.com (2008) website, employers are e ncouraged to allow the employees to have flextime in their job schedules. The website states that this shows the employees that the employer is concerned about their welfare. Accordingly, the employee perception motivates them leading to a less stressful and more productive workforce (allbusiness. com, 2008). This perception is backed up by countless other websites, which advocate for the use of fun in the workplace as a sure way of relieving stress, improving the individual health of employees and boosting the overall production of the organization.According to a study conducted by Karl & Peluchette (2006), and published in the Journal of Leadership and Organizational studies, employees who worked in fun environments had more confidence in their jobs and were able to serve their clientele better. This argument is backed by Jeffcoat & Gibson (2006), who agree that fun in the workplace results in lower downtimes, increased productivity, better job satisfaction and low absenteeism. Th is gives employers even more reasons to find ways of incorporating fun in the workplace.According to Lynn (2005), bringing fun to the work place is not as easy as many people might wan to believe. This is especially the case where employees and their managers have had conflicting paths regarding flexibility in the workplace. To beat the odds, Lynn (2005) suggests that employers need to create a trusting environment before adopting fun in the workplace. If they fail to create a trusting environment, chances are that the employees will reject any efforts to create fun in the work place.Trust in the workplace can be created through effective communication and respect, which wipes out negative emotions such as fear, hostility and scorn from the employees. According to jobsdb. com (2009), the major responsibility of bringing fun to the workplace lies with the manager. He or she is supposed to schedule breaks, during which employees can engage in fun-filled activities. In addition, he or she can seek employee opinions regarding cultivating fun in the workplace. Such could be by holding contests, celebrations or team-building activities.Another approach of bringing fun to an organization would be the use of morale officer’s who interact with the employees at all times, checking if there are any morale needs that needs to be addressed (Stafford, 2000). The Morale officers’ sole responsibility is to ensure that employees have a reason to look forward to the work environment with renewed anticipation each day. Fun is the one guaranteed way to achieve this. They may seek employee opinions on how best to achieve the organization objectives over lunch or tea.This breaks the office formality and leaves the employees more relaxed. To be successful in making the workplace a fun place, Stafford (2000) suggests that the morale officers should work on five pointers namely, i)feedback from employees, ii) humor, iii)bringing employees together, iv) a reward process f or the employees and v) Sticking to the organization’s mission by engaging in creative and innovative work. As noted earlier in this speech, the fun in the workplace is not an easy thing to achieve. According to McGarvey (2006, fun in the workplace does not happen.Rather, it takes hard work and creativity, mostly from the organization leaders. To bring fun to the work place hence requires the direct participation of the managerial leaders in the company. As such, it would be futile for the top organization management to issue orders for the employees to have fun, if they do not lead and demonstrate how fun in the company should be modeled. Even employees agree that the best fun trend in the workplace is set from the top management. A perfect example is the CEO and founder of Cognex Corporation, Dr.Robert Shillman, who indulges his employees to creative bonuses, where rather than giving them token money, he looks for fun alternative ways through which they can enjoy their bene fits. Shillman is renowned for his work hard and play hard style of management (cognex. com, 2009). To him, the adage â€Å"all work and no play make Jack a dull boy† stands true. The same spirit of leading from the front was exhibited by Wal-mart’s founder, Sam Walton, who not only wore a hula skirt, but also led employees in the giant retailer for a dance along Wall Street (Greenwood, 2009)..Shillman’s management style is celebrated by Joe Neulinger (quoted by Greenwood, 2009), who states that people who do not see the need for fun in the workplace are less likely to become CEOs. This observation is shared by Fry (2001), who states that managers who scores poorly on the fun scale are bad leaders whose lack of ‘a funny bone’ is evident through the unmotivated and less productive teams that they lead. Fry’s suggestion to managers is that they should begin meetings on good cheer, by maybe saying something nice about the workforce, the day or b y creating a fun-filled challenge for the group.According to Fry (2001), the possibilities of how much fun the managers can create in the work environment is limitless. However, as indicated elsewhere in the speech, it requires working on. As such, it will require a deliberate effort from the managers to create a fun workplace. Some of them might however dismiss this by saying that people should just do what they were hired to do. For this, the answer is just as blunt; managers, who expect their employee to do nothing else but work while at work, will most likely get less than the expected results.On the other hand, those who induce fun activities in the job environment ends up with an increased bottom line, without having to pressurize employees in to working harder (Fry, 2001). It is thus upon managers to choose, which of the two ways best suits them. Weinstein (1997) suggests that fun can be brought into the work place by doing things differently. For example, instead of generali zing the reward systems such that every employee gets the same reward, a little creativity can infuse fun in the reward program.When such happens, Weinstein, who is also the President PlayFair Inc reckons that the reward scheme becomes more personalized and memorable to each recipient employee. In addition, the employees take pride in not only the reward, but also the means through which the reward was presented to them. The employee can for example take the employees to a shopping mall, hand them money and instruct them to purchase personal gifts in a specified time limit. From such an activity, the employee not only appreciates the reward, but the shopping experience. However, it is not the responsibility of the managers to bring fun to the organization.The individual employees too have a responsibility that they enjoy their jobs, which is the most likely way to achieving job satisfaction amongst them. This however is partly dependent on whether the environment at work place allow s them to indulge in fun activities. Hemsath (1997) reckons that in the environment where employees are required to be optimally productive despite the stressful environment that the conventional workplace is, it is incumbent that employees find fun in the workplace without necessarily waiting for the employers hell-bent at changing nothing about the old workplace to affect the fun-changes for them.The best strategy for employees as stated by Hemsath (1997) starts with one self. Here the employee sets to become the fun-catalyst in the office and enliven the spontaneous spirit between him and his co-workers. This can be as effortless as changing one’s title, to take up a more funny title. Secondly, an individual employee can set it upon himself to inspire fun in his colleagues. This is done through encouraging them to take-up fun activities, recognizing and supporting their efforts at creating amusement.If the work environment allows, individual workers can carry toys, play fu nny music and even post colorful pictures that boost their spirits when at work. The employees can also influence the management to create rooms where the environment is less tense. Another way that individual employees can contribute to fun in an organization is by looking for humor in their situations (Hemsath, 1997). Every situation has its dark and lighter sides. An optimistic employee will concentrate more on the brighter sides of everything, which is more fun than the gloomy downside.To make the workplace comfortable for everyone however, the management and the employees must distinguish between beneficial fun, and jokes that may be deemed offensive by some parties. As such, Vikesland (2007), suggests that the workplace should have some fun rules that distinguish between what is acceptable and outright breach of company policies. As such, the employees should be made to understand that fun is not mocking, mimicking or teasing other co-workers or management. Off-color jokes, se xual innuendos, deception, sarcasm, dark humor and ethnic jokes do not qualify as fun in the workplace too.Conclusion The modern day manager realizes the benefits of bringing fun in an organization. With the countless resources propagating the benefits of bringing fun aboard the organization, well meaning CEOs, Managers or Corporate Strategists will no doubt try incorporating fun into their management styles. While there are countless ways to have fun in the workplace, the general guess however remains that some employees may be too distracted by the fun and hence loose out on the productivity.However, the success stories of same management styles that have adopted fun in the workplace indicates that there are variable ways of ensuring that despite the fun, employees not only meet their targets, but also exceed them. Companies like Google have demonstrated that fun and productivity can go hand-in-hand (Bryant, 2007). What Google offers – play station games, free food, scooter s and pets among other things- are just an example of what organizations can give or allow their employees to indulge in.A peak of what life in the Google offices is like can be viewed at http://www. cnn. com/video/#/video/business/2007/01/05/fortune. best. cos. to. work. for. cnn. cnn According to Bathurst (2008), fun in the work place has more than simple benefits. Besides improving productivity, organizations are using it today to battle employee turnover. This is because employees who enjoy the work environment are more likely to stick in the same job for longer than disgruntled employees are. Besides, employees today have more choices and can easily change jobs than was the case in the 1950’s.In conclusion, fun in the workplace has become the new business management trend that people believe encourages employee creativity, morale, satisfaction, productivity and increases employee retention. As such, fun has undeniably become an integral part of the modern corporate cultu re. References Allbusiness. com. (2008). Making the Workplace Fun. AllBusiness: A D& B company. Retrieved 06 May 2009 from http://www. allbusiness. com/human-resources/employee-development-team-building/11357-1. html Barthurst, Patricia. (2008). Having fun at work increases Loyalty, Productivity.AZcentral. com. Retrieved from http://www. azcentral. com/business/articles/2008/06/01/20080601biz-funatwork0601-ON. html Bryant, Steve. (2007). Perks du Soleil: Fun-Loving Google named Best place to Work. Retrieved from http://googlewatch. eweek. com/content/inside_google/perks_du_soleil_google_named_best_place_to_work. html Cognex. com. (2009). Cognex Corporation: Senior Management. Retrieved from http://www. cognex. com/CognexInfo/Leadership/default. aspx? id=210 Fry, Ann. (2001). Just Having Fun at work can boost productivity. Austin Business Journal.Retrieved http://austin. bizjournals. com/austin/stories/2001/06/04/smallb4. html Greenwood, Ramon. Are you Having Fun at Work? Career Know -how. Retrieved from http://www. careerknowhow. com/guidance/fun. htm Hemsath, Dave. (1997). Are we having Fun Yet? Journal of Quality and participation. Retrieved from http://findarticles. com/p/articles/mi_qa3616/is_199711/ai_n8773216/pg_2/? tag=content;col1 Jeffcoat & Gibson. (2006). Fun as Serious as Business: Creating a Fun Work Environment As an Effective Business Strategy. Journal of Business and Economic Research.Vol. 4. No. 2. Retrieved from http://www. cluteinstitute-onlinejournals. com/PDFs/2006321. pdf jobsdb. com. (2009). Making the Workplace Fun. JobsDB. com. Retrieved from http://th. jobsdb. com/TH/EN/V6HTML/Home/humanresource_editor26. htm Karl & Peluchette. (2006). How does Workplace Fun Impact employee Perceptions of Customer service Quality. Abst. Journal of Leadership & Organizational Studies. Vol. 13. No. 2. Retrieved from http://jlo. sagepub. com/cgi/content/abstract/13/2/2 Lynn, Harland. (2005). Attitudes toward Workplace fun: A Three-Sector Comparison.Journal of Leadership & Organizational Studies. Retrieved http://www. allbusiness. com/buying_exiting_businesses/3503649-1. html Narisi, Sam. (2008). HR’s Funny side: What Kind of Fruit would you be? HR Recruiting Alert. com. Retrieved 06 May 2009 from http://www. hrrecruitingalert. com/hrs-funny-side-what-kind-of-nut-would-you-be/ McGarvey, Robert. (1996). Comic Relief- Having fun at Work. Entrepreneur Journal. Retrieved from http://findarticles. com/p/articles/mi_m0DTI/is_n10_v24/ai_18726422/pg_2/? tag=content;col1 Ryan, Kevin. (2004). Humor in Business: 16 ways

Standard Deviation and Frequency Distributions

TUI Frequency Distributions Module 3/Case 10/148/2012 Professor Kuleshov Frequency Distributions This assignment is based on Frequency Distributions and will include the following information: 1. The ability to describe the information provided by the Standard Deviation. 2. The ability to use the Standard Deviation to calculate the percentage of occurrence of a variable either above or below a particular value. 3. The ability to describe a normal distribution as evidenced by a bell shaped curve as well as the ability to prepare a distribution chart from a set of data (module 3 Case).Part 1 (1) To get the best deal on a CD player, Tom called eight appliance stores and asked the cost of a specific model. The prices he was quoted are listed below: $ 298 $ 125 $ 511 $ 157 $ 231 $ 230 $ 304 $ 372 Find the Standard deviation $ 298 + $ 125+ $ 511+ $ 157+ $ 231+ $ 230+ $ 304+ $ 372= 2228/8 = 278. 5(subtract from #s) 19,-153, 232, -121, -47, -48, 25, 93 (square numbers) 380, 2356, 54056, 1476 2, 2256, 2352, 650, 8742 = 106(added) (Divide by 7) 15251 (take square root) Standard Deviation = approximately 123. 2) When investigating times required for drive-through service, the following results (in seconds) were obtained. Find the range, variance, and standard deviation for each of the two samples, and then compare the two sets of results. Wendy's 120 123 153 128 124 118 154 110 MacDonald's 115 126 147 156 118 110 145 137 (2) Set 1: Range : maximum – minimum = 154-110= 44 Number of cases 8 To find the mean, add all of the observations and divide by 8 Mean 125 Squared deviations (120-125)^2 = (-5)^2 = 25 (123-125)^2 = (-2)^2 = 4 (153-125)^2 = (28)^2 = 784 (128-125)^2 = (3)^2 = 9 (124-125)^2= (-1)^2= 1 (118-125)^2 = (-7)^2 = 49 154-125)^2 = (29)^2 = 841 (110-125)^2 = (-15)^2 = 225 Add the squared deviations and divide by 8 Variance = 1938/7 Variance = 276 Standard deviation = sort(variance) = 16 Set 2: Range : 156-110 =46 Number of cases 8 To find the mean, add all of the observations and divide by 8 Mean 131 Squared deviations (115-131)^2 = (-16)^2 = 280 (126-131)^2 = (-5. 75)^2 = 33 (147-131)^2 = (15)^2 = 232 (156-131)^2 = (24)^2 = 588 (118-131)^2 = (-13)^2 = 189 (110-131)^2 = (-21) ^2 = 473 (145-131) ^2 = (13) ^2 = 175 (137-131) ^2 = (5) ^2 = 27 This is divide by 7 because this is a sample data n-1=7 Add the squared deviations and divide by 7Variance = 1999/7 Variance = 285 Standard deviation = sort (variance) = 16 The standard deviation for restaurant B is slightly smaller than that of restaurant A. The range for restaurant A is slightly less the range of B. This shows there is a little more variation in restaurant A with respect to times required for drive through service than in required for drive through service than in B. (3) A company had 80 employees whose salaries are summarized in the frequency distribution below. Find the standard deviation. Find the standard deviation of the data summarized in the given frequency distribution. Salar y Number of Employees ,001 -10,000 14 10,001 – 15,000 13 15,001 – 20,000 18 20,001 – 25,000 18 25,001 – 30,000 17 The chart gives frequency and salary, traditional formulas cannot be used due to we do not know the actually salary of each employee. In order to do these assumptions need to be done with using middle point. Example (10000-5001) /2 then added to 5001= 7500 5,001- 10,000 =7500 10,001-15000=12500 15001-20000=17500 2001-2500=22500 25001-30,000=27500 Total number of employees = 80 14, 13, 18, 18, 17= 80 Compute the Mean 14 * 7500 = 105000 13* 12500 = 162500 18* 17500 = 315000 18* 22500= 405000 17 * 27500 = 467500 467500 80Add up all frequency Mark values Total= 1455000 1455000 80 1455000 / 80 = 18187. 5 = 18188 Now standard deviation Total employees 80 Total 1455000 Means= 18188 7500-18188=-10688 12500-18188=-5688 17500-18188=-688 22500-18188=4312 27500-18188=9312 Square the values -10688= 114233344 -5688=32353344 -688=473344 4312=18593344 9312=86 713344 114233344*13=420593472 323553344*13=420593472 Sd2= 3837187520 80-1 = 48571993 (round up) = 48571994 4. The heights of a group of professional basketball players are summarized in the frequency distribution below. Find the standard deviation. Height (in. ) Frequency 70-71 3 72-73 7 74-75 16 76-77 12 78-79 10 0-81 4 82-83 1 To get the standard deviation of these numbers I first calculated the mean by added all the numbers together (3, 7, 16, 12, 10, 4, 1) and divided it by 7. I then took the mean (7. 57143) and calculated the deviance by subtracting the mean from each one of the numbers in the set. Then I squared each of the individual deviations, added those sums together, and divided the number I got from that sum by one less than the data set, which are 6. Then the last step is calculating the square root, which is the ending result (5. 38074) References Introduction to Frequency Distributions, Retrieved November 12, 2008, http://infinity. os. edu/faculty/woodbury/Stats/Tuto rial/Data_Freq. htm Slides on frequency distributions, Retrieved November 12, 2008, http://campus. houghton. edu/orgs/psychology/stat3/ Frequency distributions, Retrieved November 12, 2008, http://davidmlane. com/hyperstat/normal_distribution. html Z-Table Calculator, Retrieved November 12, 2008, http://davidmlane. com/hyperstat/z_table. html Z-Table and Standard Normal Distribution, Retrieved November 12, 2008, http://www. oswego. edu/~srp/stats/z. htm Example of the normal distribution, Retrieved November 12, 2008, http://www. ms. uky. edu/~mai/java/stat/GaltonMachine. html

Busines Law essays

Busines Law essays If one asks the question "what are the reasons for Taiwan's economic success," a person will most likely receive the answer that it is the Chinese people itself. Being born in America of a Chinese ethnic background, I have been able to summarize the Chinese Identity. This identity is one that puts the family and work first, which in turn, calls for twice the amount of work due to the family. There is modesty in the mind of one, but in the spirit lies a sense of pride. This identity, I believe, is one of the main underlying reasons of Taiwan's success. Above this hearth, lies the factors that have helped Taiwan to become one of the fastest growing and economically developed countries in the world. Many things go in to play when discussing this transformation of Taiwan, but of most important are its structural, industrial, import and export, and agricultural changes. To fully appreciate the progress of the economic development of Taiwan, one must first understand its conditions at the end of the nineteenth century. In the early 1600's, Taiwan was a place inhabited only of small bands of Chinese and Japanese pirates. To try to gain hold of China's market, the Dutch stepped in and occupied Taiwan from 1624 to 1662. Managed by the Dutch East India Company, this island became a meeting ground for Dutch, Chinese and Japanese merchants. Because the Dutch valued Taiwan only for its strategic position, little progress was made to develop the island's resources. In 1624, when the Dutch had arrived, they had reported a Chinese population of 25,000. Nearly forty years of Dutch rule came to an end in 1662 when the Dutch were driven out of Taiwan by Cheng Ch'eng-kung of the Ming dynasty and his army of 25,000 men (Ho, 9). In 1887, in response from a French threat to Taiwan, they changed the idea of their island from a prefecture to a province. Liu Ming-ch-uan was appointed governor. During his session ge encoura ...

The Discover of Dietary Vitamins

The Discover of Dietary Vitamins Vitamins are a 20th-century discovery. While people always felt properties of some foods were important to health before the opening decades of the 1900s, it wasnt until after the turn of the century that these factors were identified and synthesized. Discovery of Vitamins as a Factor In 1905, an Englishmen named William Fletcher became the first scientist to determine whether the removal of special factors, known as vitamins, from food would lead to diseases. Doctor Fletcher made the discovery while researching the causes of the disease Beriberi. Eating unpolished rice, it seemed, prevented Beriberi while eating polished rice did not.  Hence, Fletcher suspected that there were special nutrients contained in the husk of the rice removed during the polishing process that played a role.   In 1906, English biochemist Sir Frederick Gowland Hopkins also found that certain food factors (proteins, carbohydrates, fats, and minerals) were important to growth in the human body: his work led to his receiving (together with Christiaan Eijkman) the 1929 Nobel Prize in Physiology or Medicine. In 1912, Polish scientist Cashmir Funk named the special nutritional parts of food a vitamine after vita, which meant life,  and amine from compounds  found in the thiamine he isolated from rice husks. Vitamine was later shortened to vitamin. Together, Hopkins and Funk formulated the vitamin hypothesis of deficiency disease, which asserts that a lack of vitamins could make you sick. Specific Vitamin Discoveries Throughout the 20th century, scientists were able to isolate and identify the various vitamins found in food. Here is a short history of some of the more popular vitamins. Vitamin A (a group of fat-soluble retinoids, including retinol, retinal, and retinyl esters)  - Elmer V. McCollum and Marguerite Davis discovered Vitamin A around 1912 to 1914. In 1913, Yale researchers Thomas Osborne and Lafayette Mendel discovered that butter contained a fat-soluble nutrient soon known as vitamin A. Vitamin A was first synthesized in 1947.  Vitamin B (known as biotin, a water-soluble vitamin that helps the body convert carbohydrates, fats, and proteins into energy)- Elmer V. McCollum also discovered Vitamin B sometime around 1915–1916.Vitamin B1 (also known as thiamine, a water-soluble  B vitamin that plays a critical role in energy metabolism) - Casimir Funk discovered Vitamin B1 (thiamine) in 1912.Vitamin B2 (also known as riboflavin, an important role in energy production, cellular function, and metabolism)- D. T. Smith, E. G. Hendrick discovered B2 in 1926. Max Tishler invented methods for synthesizing the essential vitamin B2.Niacin- American Co nrad Elvehjem discovered Niacin in 1937. Folic acid- Lucy Wills  discovered Folic acid in  1933.Vitamin B6 (six compounds which are extremely versatile and primarily work on protein metabolism)- Paul Gyorgy discovered Vitamin B6 in 1934.Vitamin C (ascorbic acid, required for the biosynthesis of collagen)- In 1747, Scottish naval surgeon James Lind discovered that a nutrient in citrus foods prevented scurvy.  It was re-discovered and identified by Norwegian researchers  A. Hoist and T. Froelich in 1912. In 1935, Vitamin C became the first vitamin to be artificially synthesized. The process was invented by Dr. Tadeusz Reichstein of the Swiss Institute of Technology in Zurich.Vitamin D (promotes calcium absorption in the gut and enable bone mineralization)- In 1922, Edward Mellanby discovered Vitamin D while researching a disease called rickets.  Vitamin E (important anti-oxidant)- In 1922, University of California researchers Herbert Evans and Katherine Bishop discovered Vitamin E in green leafy vegetables.   Coenzyme Q10 In a report called â€Å"Coenzyme Q10 - The Energizing Antioxidant,† issued by Kyowa Hakko USA, a physician named Dr. Erika Schwartz MD wrote: Coenzyme Q10 was discovered by Dr. Frederick Crane, a plant physiologist at the University of Wisconsin Enzyme Institute, in 1957. Utilizing specialized fermentation technology developed by Japanese manufacturers, cost-effective production of CoQ10 began in the mid-1960s. To this day, fermentation remains the dominant production method around the globe. In 1958, Dr. D.E. Wolf, working under Dr. Karl Folkers (Folkers leading a team of researchers at Merck Laboratories), first described the chemical structure of coenzyme Q10. Dr. Folkers later received the 1986 Priestly Medal from the American Chemical Society for his research on coenzyme Q10. Source Vitamin and Mineral Supplement Fact Sheets. National Institutes of Health: Office of Dietary Supplements

A World War One Essay Example | Topics and Well Written Essays - 750 words

A World War One - Essay Example of World War I based mostly upon the details that bordered its onset and subsidence while Zinn communicates an idea on how World War I can be considered as ‘health of state’ and, through Tindall and Shi, one may be drawn to comprehend that World War I or the Great World War which broke out in Europe, engaging the U.S. in 1914, deserved to be identified a crisis that had caused the American nation to shift in character towards international relations. Naturally, these differing perspectives bear impact on our understanding of the American history during World War I in the manner our thoughts and judgments of the war are shaped by often partial views which the historians inevitably attach with their findings. According to Johnson, â€Å"Between 1859 and 1914, America increased its output of manufactured goods, in value, no less than eighteen times, and by 1919, boosted by World War I, thirty-three times† (Johnson 352). This statement exhibits an approach of signifying World War I by way of illustrating what America had in yield before and after the war, in view of the nation’s struggle with its commercial phase of growth. As Johnson accounted for technology in various forms, specifically the invention of the barbed wire by the farmers J. Glidden and J. Haish as well as the establishment of machineries in place of direct manual labor along with the production of power via abundant supply of energy from water, steam, and electricity, one rather imagines a more industrial than political scenario bordering the confines of World War I. Prior to the Great War, Johnson notes the occurrence of ‘Progressivism’ at the turn of the century where the ‘Progressivesâ₠¬â„¢ of the middle class rose in hostile protest against the big capitalists of the era whereas, by the end of the war, blacks in considerable number carried on their lifelong cause of fighting for freedom from slavery and slave trade. It figures herein that Johnson’s attempt of portraying World War I

According to Primo Levi's Survival in Auschwitz, how did Auschwitz Essay

According to Primo Levi's Survival in Auschwitz, how did Auschwitz systematically dehumanize the prisoners - Essay Example Men, women and children were dumped in the concentration camps not for the purpose of reformation and rehabilitation. Their spirits were totally subdued before their bodies were disposed of through heinous procedures. Primo Levi writes, â€Å"Then for the first time we became aware that our language lacks words to express this offence, the demolition of a man. In a moment, with almost prophetic intuition, the reality was revealed to us; we had reached the bottom. It is not possible to sink lower than this; no human condition is more miserable than this, nor could it conceivably be so.†(16) Even the garbage that is being lodged in the dumpers commands some sort of discipline and procedure for disposal. But the human beings in the concentration camps were stripped of all their possessions, their self-respect included. Levi’s only apprehension was what he was going to lose next? Was there anything more for being robbed at all! Dehumanization is the psychological process; o ne’s feelings and emotions are attacked. It is more vicious than the physical violence. In the psychological torture of an individual he is made to feel not worthy, he is the lesser category of a human being. ... SS was the German force who generally handled the affairs of concentration camps. These camps were spread across the occupied Europe and Jews were going to be the main group of prisoners here. As the account of those dark days begins, Levi vividly describes a scene of deportation where before a group of isolated Jews waiting in some station, a notorious transport train came and halted. Levi was one of these unfortunate people, and he writes that the â€Å"goods wagons closed from the outside, with men, women and children pressed together without pity, like cheap merchandise, for a journey towards nothingness, a journey down there, towards the bottom.† (12-13) So what did this bottom mean? Was it a seemingly endless see of grief, wherein the unfortunate Jews were being thrown to explore the so called bottom? To reach this bottom, each and every prisoner was to be transcended through a definite process of systematic torture. This was the avenue of Nazi torture and related contor tion tactics to humiliate the otherwise cultured and generally well-to-do people †¦ Europe’s Jewish people. Nazi concentration camp administrators divided the captured and/or deported Jews in different groups mainly as per their working capabilities. Levi was put in the group of mostly young adult males, who could be used as forced labor under conditions of strict bondage. This bondage extended from mere enslavement to continuous subhuman living. The prisoners were kept on minimal food. They were subjected to terrible cold. They were forced to denude before each other and bath together in a crowded manner. They were to stand in ankle deep ice cold water. Being a forced laborer, Levi was asked to do various sorts of works by the Officers at

The presidency of Andrew Jackson and the Bank War Research Paper

The presidency of Andrew Jackson and the Bank War - Research Paper Example However, renewal of character could still be possible after the then current charter could expire in the year 1836. Thus to prevent this he rolled out a strategy that was aimed at crippling the bank economically. While acting against the advice of the Congress and cabinet members, President Andrew replaced resistant Secretaries to the Treasury and ordered that federal funds should be deposited into other banks other than the second bank of the United States. Following the president’s directive, the second bank’s president made a countermove in the economy to let people feel the need for the second Bank of America. By so doing, Nicholas Biddle the central bank president created a financial crisis that led to heated debate in the Congress, the press and the public. Businessmen being the most affecting, protested, asking the president and the bank’s management to end the bank war (Rothbard, 510). After people had learned of the dangers of the central bank, there were minimal needs for the renewal of the charter, hence leading to its closer in the year 1836 which was a victory for President Andrew

Stock Valuation and Behavioral Finance Essay Example | Topics and Well Written Essays - 1500 words

Stock Valuation and Behavioral Finance - Essay Example Following formula is used to estimate the price of the stock using dividend growth model: Growth of the stock is calculated using the dividends paid by Shell since 2008 and it is shown in the appendix 1. Discount rate is calculated using the CAPM equation which is as follows: Rf = 4% Rm = 0.59% B = 0.078 So, using the above equations Re is found to be 3.9997% So, the price of the stock using the values identified is 84.86 The current price of shares of Shell is 2,246.5 however the estimated price is 84.86 which is well below. Price to Earnings (P/E) Ratio is the other technique used to estimate the price (Gitman, 2003). Price to earnings ratio is the market price of the company with the earnings per share. The higher value of P/E ratio shows that the investors are paying more for per unit of income they are getting from the share and it can be said that the stock is more expensive (McLaney, 2009). To estimate the price, earnings per share is taken from the annual report of Shell. Pri ce 2,246.50 EPS 4.98 P/E Ratio 451.104 So the price is 2,246.50 and PE is 451.1. However, if the estimated price is considered to calculate the PE ratio then it is 17.04 P/E ratio of the company is very high and it indicates that the shares of Shell are very expensive. However important reasons for this would be that Shell is an important player in the market and investors are eyeing stocks of Shell for investment purpose, so with higher demand the price of Shell’s stock is high. Part 2 – Individual Investors and Sophisticated Investors There are different techniques and valuation methods that investors use to estimate the price of the stock and then make their investment decision. Not all the techniques would give the same kind of results; however these techniques are helpful in giving a signal or a hint to the investors. Investors have different aspects and factors to consider while making the investment decision. Investors have different socio-economic background, q ualification, believe, emotions. Moreover, differences in race and age of investors also influence the investment decision and therefore the decision of one investor could differ from other investor and this has been the main role of behavior finance i.e. to define and discuss why people are not only concerned about the market decisions but they have their own perception and opinion and judgment as well while making the investment decision. Behavior finance has been defined as the study of how people understand and take actions on the financial information they have in making investment decisions (Simon, 1987). Every investor would like to earn higher return on his investment however he or she needs to define his or her risk tolerance level, goals of the investment and other factors that could influence the decision. Different investment and stock valuation techniques are used by investors and it is up to the investor to choose which technique he or she would like to use to make the investment decisions. Some would prefer using PE ratio whereas others would like to use PEG ratio. Some would fancy going for Gordon Growth Model whereas others would like to analyse the previous price and identify the ‘hi and low prices’ and believe that the stock price would go in the same way as in the last few years. Even after using different techniq

The impact of financial crisis on five USA companies Essay

The impact of financial crisis on five USA companies - Essay Example However, subprime mortgage loans given to individuals with less than perfect loan carrying capacity and declining home prices coupled with structural changes in the United States economy that had built up a huge deficit in trading with the rest of the world caused the bubble to burst. This left many with write-offs worth many billions and assets whose real value had declined substantially. Because the mortgages converted into mortgage-based securities sold to many around the world, the financial crisis turned global. Businesses now faced a changed business environment, uncertainty and problems raising funds. This dissertation examines the impact of the financial crisis of 2007 – 2009 on selected businesses headquartered in the United States of America. According to the International Monetary Fund (IMF), the years 2008 – 2009 presented the world with the deepest global recession since the great depression and the most important of all reasons for this economic downturn was a global financial crisis (Berlatsky, 2010, Pp. 16 – 20). In an interlinked world, economic problems in one country were bound to have an impact on the others to threaten global financial stability. According to the previously mentioned author, prominent economists suggest that the United States economy that had been the envy of the world for many years now carried mountains of debt that endangered prosperity and the global economy. A desire on the part of Americans to own their homes had resulted in a massive increase in home prices in the United States of America and irresponsible lending at low rates of interest to many who were bad credit risks created a bubble involving rapidly increasing home prices that were to later collapse. In a market wit h collapsed property values, banks could no longer readily recover the amounts loaned to bad credit risks. Because many banks were involved in arrangements involving credit default swaps, the financial strains were to result in the collapse of

Quantitative Methods Assignment Example | Topics and Well Written Essays - 1250 words - 1

Quantitative Methods - Assignment Example In this problem, where what influences the prices of a second hand car is determined; confounding variables could be colour, style, fuel, mot and condition. The main dependable variables could be the age, mileage and engine size. There are two methods to manage confounding, by analysis and design (Gravetter and Forzano 2012). By design comprises inclusion, randomization and exclusion decisive factors; by analysis comprises stratified and matched testing. Matching is more proficient to control confounding when the sample range is small. In this case, Inflation could be an unwanted factor that affects prices and it is hard to avoid (Richardson 2011). Y denotes dependent variable, indicating a quantity that differs from entity throughout the sample, and is the key focus of interest. X1... Xk are independent variables, which also differ from various entities, and are contemplated to be correlated with Y. Lastly, ÃŽ µ is the residual expression, which denotes the composite impact of all other kinds of individual variances not explicitly recognized in the model (Black 2012). In this regression, looking at age alone, it cannot provide explain much explanation though it shows correlation of second hand cars prices dependency (Richardson 2011). Looking at mileage only, it can explain more of the observed car prices variation in buying and selling costs. However, variations in mileage and age jointly can explain a bigger percentage of the variation in prices. The reason they can clarify more jointly than the computation of what they can elucidate individually is that mileage masquerades the effect of age in this data set. When both are incorporated in the regression model, the impact of mileage is alienated from the impact of age, and the latter impact then is observed (Richardson 2011). In business, to be competitive, there must be a design quality into processes and products. Business must allow a process of

Stock Valuation and Behavioral Finance Essay Example | Topics and Well Written Essays - 1500 words

Stock Valuation and Behavioral Finance - Essay Example Following formula is used to estimate the price of the stock using dividend growth model: Growth of the stock is calculated using the dividends paid by Shell since 2008 and it is shown in the appendix 1. Discount rate is calculated using the CAPM equation which is as follows: Rf = 4% Rm = 0.59% B = 0.078 So, using the above equations Re is found to be 3.9997% So, the price of the stock using the values identified is 84.86 The current price of shares of Shell is 2,246.5 however the estimated price is 84.86 which is well below. Price to Earnings (P/E) Ratio is the other technique used to estimate the price (Gitman, 2003). Price to earnings ratio is the market price of the company with the earnings per share. The higher value of P/E ratio shows that the investors are paying more for per unit of income they are getting from the share and it can be said that the stock is more expensive (McLaney, 2009). To estimate the price, earnings per share is taken from the annual report of Shell. Pri ce 2,246.50 EPS 4.98 P/E Ratio 451.104 So the price is 2,246.50 and PE is 451.1. However, if the estimated price is considered to calculate the PE ratio then it is 17.04 P/E ratio of the company is very high and it indicates that the shares of Shell are very expensive. However important reasons for this would be that Shell is an important player in the market and investors are eyeing stocks of Shell for investment purpose, so with higher demand the price of Shell’s stock is high. Part 2 – Individual Investors and Sophisticated Investors There are different techniques and valuation methods that investors use to estimate the price of the stock and then make their investment decision. Not all the techniques would give the same kind of results; however these techniques are helpful in giving a signal or a hint to the investors. Investors have different aspects and factors to consider while making the investment decision. Investors have different socio-economic background, q ualification, believe, emotions. Moreover, differences in race and age of investors also influence the investment decision and therefore the decision of one investor could differ from other investor and this has been the main role of behavior finance i.e. to define and discuss why people are not only concerned about the market decisions but they have their own perception and opinion and judgment as well while making the investment decision. Behavior finance has been defined as the study of how people understand and take actions on the financial information they have in making investment decisions (Simon, 1987). Every investor would like to earn higher return on his investment however he or she needs to define his or her risk tolerance level, goals of the investment and other factors that could influence the decision. Different investment and stock valuation techniques are used by investors and it is up to the investor to choose which technique he or she would like to use to make the investment decisions. Some would prefer using PE ratio whereas others would like to use PEG ratio. Some would fancy going for Gordon Growth Model whereas others would like to analyse the previous price and identify the ‘hi and low prices’ and believe that the stock price would go in the same way as in the last few years. Even after using different techniq

Quantitative Methods Assignment Example | Topics and Well Written Essays - 1250 words - 1

Quantitative Methods - Assignment Example In this problem, where what influences the prices of a second hand car is determined; confounding variables could be colour, style, fuel, mot and condition. The main dependable variables could be the age, mileage and engine size. There are two methods to manage confounding, by analysis and design (Gravetter and Forzano 2012). By design comprises inclusion, randomization and exclusion decisive factors; by analysis comprises stratified and matched testing. Matching is more proficient to control confounding when the sample range is small. In this case, Inflation could be an unwanted factor that affects prices and it is hard to avoid (Richardson 2011). Y denotes dependent variable, indicating a quantity that differs from entity throughout the sample, and is the key focus of interest. X1... Xk are independent variables, which also differ from various entities, and are contemplated to be correlated with Y. Lastly, ÃŽ µ is the residual expression, which denotes the composite impact of all other kinds of individual variances not explicitly recognized in the model (Black 2012). In this regression, looking at age alone, it cannot provide explain much explanation though it shows correlation of second hand cars prices dependency (Richardson 2011). Looking at mileage only, it can explain more of the observed car prices variation in buying and selling costs. However, variations in mileage and age jointly can explain a bigger percentage of the variation in prices. The reason they can clarify more jointly than the computation of what they can elucidate individually is that mileage masquerades the effect of age in this data set. When both are incorporated in the regression model, the impact of mileage is alienated from the impact of age, and the latter impact then is observed (Richardson 2011). In business, to be competitive, there must be a design quality into processes and products. Business must allow a process of

Teacher Tenure Essay Example for Free

Teacher Tenure Essay Imagine a world where teachers were perfect and students never failed exams. This world is impossible, due to the fact that no one is perfect. Unfortunately, the reality is that some teachers are very bad at their jobs. Many grade unfairly, don’t thoroughly cover the course material, and fail to make their class enjoyable. College students pay good money for an education and expect quality teachers to help them learn effectively. It is for reasons like this that teachers should not be rewarded with tenure after a certain amount of time. This idea of teacher tenure has good intentions behind it, but there are too many negative outcomes that arise from this regulation. Teacher tenure removes incentive to improve teaching, makes it more difficult to remove underperforming teachers, and makes seniority the main factor of employment instead of performance quality. Teacher tenure started in the late 1900s around the same time as some other labor movements. Some of these movements protested for safer work environments or higher pay. Teacher tenure was an idea that arose in order to protect teachers from being fired for non-work related reasons. For example, before tenure, women could be removed from teaching because they got married, pregnant, or simply because they wore pants (Stephey). These reasons were clearly very irrational and unfair. However, it is now the 21st century and those reasons are very outdated, just like the main reason for teacher tenure. Many teachers take advantage of this gift and slack off once it is given to them. After a teacher is tenured, it is very unlikely for them to be fired, meaning that they can teach in any way that they please. This could mean that they choose to ignore the course material or make their students read a textbook every day for class. Some argue that tenure allows educators to try new ways of teaching without the fear of being fired. This is a true statement, but it is irrelevant if one is not passionate about his or her profession. It seems as if many teachers become comfortable with their course material and become lazy or incompetent when it comes to adequately covering the necessary information. If there was no tenure, educators would feel more obligated to perform to the best of their ability as opposed to the bare minimum. Getting rid of tenure would also  prevent conflict when attempting to fire an incompetent teacher. Teacher tenure makes it more difficult to fire underperforming teachers. It is a timely process and it also costs much more than it should. This problem became evident in 1986, when it took eight years and $300,000 to fire an English teacher in California. After twenty years on the job, Juliet Ellery refused to improve her teaching methods. School officials documented more than 400 reasons why she should be removed from the teaching community. She stated that â€Å"the charges represented nothing more than opinions, exaggerations and lies.† After the long process of removing Ellery, she was only suspended from teaching for one year (Bathen). This is just one of many cases that exemplify the cost and time that comes with firing a tenured teacher. Unfortunately, many schools refuse to go through this process because of the cost. In some cases, the administration of the school will pay a teacher â€Å"under the table† to resign instead of trying to fire them. This is similar to Edward F. Murin’s case when he was bribed to resign so accusations of his poor behaviors would be dropped. A few of these behaviors included strangling a student and denying a diabetic student a soda in class. There were also numerous complaints from parents about racial and abusive behavior in the classroom. After 22 years of teaching and a ten-year legal battle, it cost tax-payers $1 million to remove Murin from the education world (Bathen). These two examples may be on the higher spectrum of time and money, but they exemplify the extremity of the issue. It also gives an explanation as to why, in most situations, nothing is done to banish the teachers. This means that students receive a lesser education and they can’t do anything about it. Another problem resulting from this law is the fact that seniority is a higher priority than the quality of the teacher. In many circumstances, seniority is the most important factor that determines a teacher’s salary and job position. It is very reasonable that teachers who continue to improve every year should receive raises. This would make sense that the oldest teachers would then have the highest salary. Of course, some teachers take advantage of this luxury and don’t try to improve their teaching methods. Sometimes, teachers even become worse with age. It is also common that the older teachers have the privilege of choosing their courses. This means that they have the attractive opportunity to teach General History as opposed to American Literacy of War or a much  more perplexing subject. Consequentially, students who strive for a challenge suffer with inexperienced educators. Clearly, there are many issues in regard to this policy. Some argue that tenure gives teachers academic freedom to try different teaching methods; however there are other laws that protect and allow them teach how they please. Although tenure gives educators job security and an opportunity to attempt new things, it also diminishes the quality of education given to students in some cases. Teachers should not be rewarded with tenure after a certain amount of time. This idea of teacher tenure has good intentions behind it, but there are too many negative outcomes that come from this regulation. Teacher tenure removes incentive to improve teaching and makes it nearly impossible to fire poorly performing teachers. Seniority also plays an unfair role in the education community and should also be reevaluated.