Knowing Imagination, Fantasy and Faith in Essay

Knowing Imagination, Fantasy and Faith in - Essay Example When tight spots emerge, they have nothing to say. Chances are high, that young ladies and young men, will need to know how imagination, fantasy, and faith are being explored and exploited, or put into action as apparently realistic, at times grotesque in some symbolic works of fiction which may serve them well when opportunities surface. In story books, tales often compel the readers to picture things that came to pass and may come about using representations, similar to what authors' do. For example, "Bontshe Shvayg" (146-151), is purely a product of the author's imagination in addition to borrowed ideas from the authors of the scriptures. In 'The Story of a Young Man', "What is the soul' (93), the author projected his mind's thoughts in terms of a boy at the tender age when it comes to the question of what happened to the soul after death. Most readers also who would examine the story are set and framed to view things the way a child would also be able to picture death, soul, and ascension having been given the symbols of water, cloth, 'The Story of a Young Man' (94), "Souls are flying, souls are flying!", flight, and akin to some small birds ways where they can be seen in still pictures portrayed to be seeping some water, wipe its bill on some dry grasses, and then fly and soar high until when it is beyond one's sight. The symbolism may be low key to some, but, it shows how allegories are by themselves effective whether one is young or old to communicate the message that authors want to deliver whether they are appreciated or not. One high-quality approach to discover how imagination, fantasy, and faith are being explored and exploited in a written piece is primarily to learn to characterize the underlying principle behind the script. For example, some readers may not really understand and appreciate White Challah (1-8). When the satirical narrative was written, the author might have been too affected by the idea of not only what is one gist in "White Challah" (1), bigotry, and also "White Challah" (2), hostilities because of differences in faith. Yet, within the congregating community of believers, "White Challah" (2), there also was hierarchies of prominence depicting a group of people, subservient to mere human yearnings. The satire to some extent, "White Challah" (3-8) exposes men's folly when the intellectual abilities are not fully honed to adhere to reason and logic. But, how will the reader know that the narrative used differences in faith and symbolism to expose human weakness For the Jews, "White Ch allah" (8), challah or braided bread is very important table offering during Sabbath as an entwined food, symbolizing mirror images that were once upon a time created by God on earth. Conversely, the Christians believe in God, but, consider, "White Challah" (1), Christ as the manna from heaven. After reading the full text of the story, "White Challah" (1-8), the reader may find that the purpose of the author was to showcase the disparity between the Christian faith and the Jewish faith dwelling in the same nation, and apparently to motivate readers to make decisions on which group would one like to be identified and join given the opportunity. In other words, the author expressed his feelings about the Christians and the Jews while providing information of their activities, persuading the readers

USA Admission Essay Essay Example for Free

USA Admission Essay Essay Every person is affected by the myriad of events and people who have managed to change their life direction. The same was with me. Many people have seriously influenced my decisions, choosing my life path and future career. For example, my mother taught me the heroism of selfless devotion to worthy cause as she was interested in the destinies of abused children. My playwriting teacher changed my attitude towards music and now I do appreciate the role of classical music in our dazzling world. My teacher of world history showed me that the history isn’t simply facts and dates – the history is the connection between cultures. In such a way my history teacher broadened my view that the world is wrapped up in lots of historical mysteries. Of course, these people influenced my life and contributed to my spiritual and psychological development, and these people easily strike my mind. Nevertheless, these people are elders and I am rather distanced from them. The person, whom I am going to devote my essay, has influenced me to change my life direction, but his influence is hardly describable. James was the first international student in my class and it is he who had influenced my decision to become international student, too. Before our meeting I thought I’d not be able to leave my native country and to become labeled as ‘international student’. It sounded for me as death penalty – I was afraid of discrimination. However, James showed how wrong I was. Together we developed our new personalities open to perception of new cultures and nationalities; we developed our own sense of humor and attitude towards girls. James came to my country having no friends and not knowing the language, but he was a strong person ready to fight all difficulties. I really admired his personal strength and his character. He said that leaving his native country was the most difficult decision he had ever made, but he realized that he would have more opportunities here. I saw how difficult for him it was to find new friends and to communicate with other people, but he never gave up. Before meeting James I felt sometimes like an outcast, but James made me feel more confident and find myself. Moreover, I re-affirmed my inspirations and drives. James and I had the same thoughts and the same problems and, therefore, sometimes I felt we are brothers. However, everything ends in our life and James left my school as his family moved to another city. Despite our efforts to maintain our relations, our friendship gradually drifted apart. Now I understand that our friendship was based on growing at the same surrounding and under the same conditions sharing similar hopes and fears. Our friendship in the middle school was magical, but, it is a pity that lighting doesn’t strike twice. Nevertheless, I became firm of purpose to become international student as James showed that I had nothing to fear. Yes, difficulties did challenge me, but I found strength to cope with them. James did work the lesson in my heart – you should be always confident in who you are and others will perceive you the same way. Actually, if I had never met James, I definitely would have missed experience of being international student. James exerted positive influence on my future life which became full of projects, ideas and companionships with new friends and classmates. Newton’s First Law of Motion states that ‘an object in motion tends to stay in motion in the same direction unless acted upon by an external force’. Actually, James was that external force! Now I made up decision to transfer to the University of South Carolina as it is one of the best private research universities in the world. I think that University will provide me with more opportunities and knowledge how to succeed in our highly-competitive business world. Moreover, I will be provided with the highest-quality education, skills and values which will be necessary for responsible citizenship in changing world. Apparent strength of University is diversity of faculties, where each student is able to choose the direction he is interested in the most.

Moral and Social Responsibility Practices in Small Business

Moral and Social Responsibility Practices in Small Business There are so many kind of people within different country in the world. Some people will only care about themself and unscrupulously to complete their target and some people will care about the country future. This kind of selfish people will destroy our country’s economy. So, ethical and social responsibility is so important to our country. From a conceptual framework, the impact seems to ethical and social responsibility approach to financial and non-financial performance of SMEs (small and medium-size entreprises) in Malaysia. Ethical business practices and social responsibility is seen as a strong reason to build a multi-ethnic community in harmony between Malaysias business dealings turn may affect the overall performance of SMEs in the key. In Malaysia, there was so many different kind of business. In different business interests, ethics and social responsibility practices of different cultural perspectives and unique historical skills and understanding of the industrys business environment can provide a wealth of perceptual framework. Although it was reported that there is a minimum distance of cultural between Malays, Chinese and Indians, but it may face a variety of challengers in the business environment, awareness of ethics and socially responsibility. So we can envisaged that this study can provide a deeper knowledge and understanding of the cultural different between the entrepreneur in Malaysia for the greeting values, ethics and socially responsibility practices and promote a better understanding of personal values that held in Malaysia. According (Noor Hazlina Admad, Azlan Amran and Hasliza Abdul Halim 2012) the study, for the introduction, that was influence the behavior of existing entrepreneurs on business ethics and national culture of a prolific discussion. There was some scholars seeking to move beyond national cultures suggest focusing on more fine-grained variations within a nation. In Malaysia, the intercultural differences provide an important reflection on the existence and range of values and beliefs within a nation. Certainly, it was cautioned that may be linguistic, regional, tribal, ethic or caste cleavages within nations that may sometimes make national data non-representative for the nation. It is believed that there still exist some values among the three major racial groups which was Malay, Chinese and Indian. These three major racial groups can be markedly from different dominant culture, especially in business practices. This is because the ethnic divisions tend to be reinforced by religious, cu ltural, linguistic and economic divisions in Malaysia. The reason is the ways of thinking of people are behavior, personal, cultural values entrepreneurs may also affect the business environment in the moral and social responsibility practices prevalent cognitive. After that, there are three important reasons as to why these practices in smaller firms should be examined more closely. Firstly, there is a large disparity in the number of studies of ethical and social responsibility issues between large firms and small firms. There was work on ethics and social responsibility has been largely concentrated on large firms particularly in the context of Malaysia until now. Secondly, small businesses have a strong interrelated community in which it operates. Typically, they deal with who live in the local are mark that ethical and socially responsible business behavior is an important factor for creating a customers harmony business-customer relationship in the local community. Thirdly, there is increasing number of people awareness on ethics and social responsibility, thus leading to social disapproval is considered bad ethics or corporate irresponsibility. For the â€Å"good ethic is good for business† notion, this means that if we want our business stay longer and stronger, the ethical behavior is the reason. If we ignore the ethic, it would have an adverse impact on our own business. According (Noor Hazlina Admad, Azlan Amran and Hasliza Abdul Halim 2012) study by Corruption Perception Index (2009) reported that it was reported that Malaysia was ranked 56th of the 180 countries studied that the way behind other Asian countries. This means that Malaysia is just a medium country in Asian. Although the CPI report is not limited to small business, but this is a general ethical standards reflected between the people in this country. Regard to the social responsibility, there was reported that the Council of Small Business Organization of Australia had received a sample of 9000 revealed show that a strong socially responsible behaviors especially in terms of providing support for the local community. â€Å"There was a genuine enthusiasm for the notion of corporate social responsibility which was viewed as duty†, this is the result found out of the Australian. This was happening among the SMEs in Australia. On the contrary, it was noted that in regard to the mora l sense of corporate social responsibility and smaller still relatively lacking in Malaysia. This is because the focus on such issues in Malaysia is often directed to large firms compared to smaller firms. Nevertheless, for the question of ethics and social responsibility, small businesses may be due to larger peers and different characteristics of these companies from nature to a certain extent. Small firms are, by nature, independent and self-managed. Presumably, the main aspects of morality will revolve around personal values, the owners themselves, and not bound by the ethical code of conduct as a large companys belief. ‘Multitasking’ is another key criterion of small businesses. Besides that, the variety of tasks facing small business owners can make them less time to consider ethics in the daily management. In addition, according to the notice what constitute personal and business ethics are probably closer in situations where the owner is also the manager in a business. Relatively speaking, recession has greater impact on small firms compared to larger ones, making business survival one of the top agenda among smaller firms. It means that ethic and social responsibility will make the small business survive in the challengers. Because of these limitations faced with small business owners, it is vital, so be careful to check the moral and social responsibility to consider to what extent is suitable for small businesses. In surmise, the purpose of this paper is to address these issues for examples, ethics and social responsibility in SMEs by advancing a conceptual framework that links the personal value of SME owner-managers, the ethical and socially responsi ble practices, and business performance. Followed by a conceptual framework beginning of this article, some propositions are formulated in the discussion of the relevant literature, and during use. Then, subsequent data collection methods will be used to sample and measure presents brief details. Finally, this paper summarizes the discussion of research and its impact. On the other hand, Malaysia is a multi-ethnic country that contains 27 million people. That have the three largest ethnic in our country, it is Malays, Chinese and Indian. Malaysia also has many smaller ethnic in the country. Because of this multi-ethnic composition of communities, many people believe that Malaysians have different cultural values, even though there is evidence that similar cultural value orientation. Malaysians generally share examples of collectivism and relationships. The only difference found among the three races was in terms of religiosity, with Malays holding religious beliefs to be far more important than their Chinese and Indian counterparts. However, people think different communities and ethical groups within a country, with their diverse business interests, different cultural perspectives and unique history of the skills and industry to understand the ethical and social responsibility practices in the business environment of the rich perceptual framework. It was a contention that personal or cultural values held by individuals may lead to different views on what is considered to be right or wrong, moral or immoral, and social responsibility, or otherwise. Interestingly, an investigation of cultural values in Malaysia using the right cultural values suggests that Malays, Chinese and Indians share similar cultural values. However, the increased pressure from economic development could result in changes in term of cultural values. Therefore, even if there are reported that the minimum distance between the cultures of Malays, Chinese and India, is likely to be a different business environment facing challenger cognitive moral and social responsibility on a certain bearing. Since the SMEs in Malaysia are labor-intensive, they will create employment opportunities. Secondly, SMEs enhance regional development and create more equitable income distribution due to their location and ongoing expansion throughout the broader community. Thirdly, SMEs play a vital complementary role in relation to larger firms. In many cases, large firms depend on SMEs as suppliers and distributors. For example, many SMEs in Malaysia supply component parts, tools, and equipment to larger manufacturing firms. Large firms also rely on SMEs for the distribution of their products to the consumer. Fourthly, SMEs serve as a training ground for developing the skills of workers and entrepreneurs. Finally, the presence of SMEs curbs the monopoly power of larger firms and provides the structure of the economy with greater flexibility. Thus, a country can strengthen SMEs and to ensure its success in reducing its vulnerability to financial crises. To promote the harmonious business and societal relationship, we should suggests to the word â€Å"ethics is not a luxury of advanced economies; it is an indispensable means to foster economic development†. Therefore, in developing economies to understand their daily business activities, such as the importance of the structure, especially in the context of Malaysia, small business is crucial. There may here also gives information about the entrepreneurs personal values may affect the moral and social responsibility practices cross-cultural variation. As a large company code of ethical conduct of business ethics research has been the center of attention. With a view that ethical practices should be the guiding principle for all businesses, large or small, researchers have begun to investigate the small business ethics gaining momentum. A study found that the interests of small businesses in the UK has experienced around the stakeholders, the protection of knowledge and informat ion, legal and moral obligations, as well as issues of personal and business decisions conflict is a moral issue. It is also uses a dilemma to determined that small business owners have faced, including the maximization of profits, life priority, enlightened self-interest and social priorities of the four problems. When the concept was first developed more than twenty years ago, companies are finding it difficult to operate their business practices, because it requires sacrifice to be carried out in the financial level. However, recently, the organizations leaders have begun to recognize the importance of social responsibility in business. Specifically, they found that small businesses have expressed their willingness to make arrangements to meet the requirements of social responsibility, especially their customers, their employees and the public. Through the lens of business, ethics and social responsibility practices are considered in the long run, help the economy entrepreneurs. In a rapidly changing and unpredictable environment, socially responsible behavior, to help businesses get the support from various external stakeholders groups. Such behavior, to provide them with some protection from unforeseen problems they face. It is also important to note that an organizations image and reputat ion may be in good moral behavior shaping public effects. Taken together, the benefits of ethical and socially responsible practices enable competitive advantage to be attained as a firm distinguishes itself from its competitors. Apart from a business perspective, entrepreneurs show such subtle gesture is considered to be the mechanism to promote the harmonious business and social relationships. In particular, it can enhance trust, cooperation, and taking into account that people can understand why other people behave the way they tolerates each other in three different ethnic groups. The three elements are intrinsically important because they are core characteristics that positively affect the emotional and interpersonal aspects of the work and life relationships. Because of this moral and social responsibility survey should get more attention and make the people think that important of it. The foregoing discussion is a strong link between the imaginary moral and social practice, results of operations, relations harmonious society, indicating the stakeholder theory, both from tool and normative perspective. The instrumental stakeholder theory methods treat the interests of maximizing the wealth of the company by means of stakeholder interests meet to achieve, whereas the fundamental assumption of normative approach to stakeholder theory suggests that â€Å"a company should behave in a socially responsible manner because it is morally correct to do so†. Based on this underpinning theory, conceptual framework is advanced for further investigation. Personal values of the SME entrepreneurs from the three main races in Malaysia are treated as the independent variable. Perceived role of ethics and social responsibility as well as ethical and socially responsible practices in business are mediating variables. The dependent variable is business performance in the context of SME. From this paper (Noor Hazlina Admad, Azlan Amran and Hasliza Abdul Halim 2012) ,we can make a stage to solve this problem. Firstly, in practice, we should provide between Malaysian entrepreneurs on values, ethics and social responsibility in a better understanding of cross-cultural differences. Secondly, we should promote a better understanding of the interaction of the three individual values in business practices and ethnic groups held in Malaysia. Then, we need to find the SME entrepreneurs consider important ethical and social responsibility practices. For the fourth point, we need to make sure that if this practice ethical and social responsibility does affect results of operations for example financial and non-financial. After that, fifth point is benefit of society, it will promote a harmonious business and taking into account the related parties of this study will inspire the similarities and differences between them, the strong ground of public relations in a multiracial soc iety. In conclusion, the value of this study lies in its efforts to provide moral and social responsibility practices and informed understanding of small businesses, especially in the environment of Malaysia. Determine the signal such noble approach because of its strong interaction with employees, customers and the local community about this approach, especially an important message is ubiquitous in small businesses. Ethical and social responsibility considerations are considered critical in view of harmony business enterprise, customer business relationships and community business could enhance the companys performance and to a greater extent, promoted the establishment of trust, respect for community solidarity and integrity. Importantly, this study will alert was similar and look at ethics and social responsibility in a manner different from each ethnic community and entrepreneurs, especially in Malaysia. The awareness of ethical business practices among smaller firms could also furnis h a healthier economy as they make up more than 80% of all establishments in most countries. Above all, business practitioners should realize that ethics, social responsibility and profit making can go hand in hand; they are not conflicting agendas. Therefore, the challenge of entrepreneurship education and policy-makers face is to recognize the unique aspects of these practices of SMEs, rather than through the lens of large companies the problem of moral and social responsibility corporate policy but as for creating competitive advantage for small businesses. Training programs that could portray the relationships among strategic planning, ethics, and social responsibility of the entrepreneurs is of great value. Finally, ethical is important to our country, it is because ethical and social responsibility can make our economy become better or badly. So all people in Malaysia need to unite and always help each other even not same ethnic to make our country become a stronger country an d increase our economy in future.

The Tapestry Metaphor Essay -- Intercultural Communication Cultural Es

The Tapestry Metaphor We have all heard or used the tapestry metaphor at one time or another: â€Å"It's like a tapestry —with many delicate threads all woven together to make a whole.† Yes, we have heard it again and again. But why not repeat it? Well, after contemplating on the sociocultural experiences I chose to study—attending a Sunday worship service at the local Nazarene church and arraignments at the Juneau Court House—I believe that a person's idea of her or his cultural self is like a tapestry. One's own life experiences and communications with others are the threads. And woven together, the experiences of one's life create a unique cultural being. The Juneau Church of the Nazarene conducts its Sunday services much like many other churches I have attended. A pastor, associate pastor, or music director leads the service from the front of the sanctuary, each taking turns standing at the pulpit when speaking. Also up in front sits the musicians, two pianists and a guitarist. In the main part of the sanctuary sit the congregation in rows of pews. The service usually begins with a reading of scripture, church announcements, or a hymn. Then there are small orders of business, like prayer concerns, special music sung by church members, or other scripture readings. The climax of the hour-long service is the pastor's sermon, in which he preaches about some specific topic centering on the Christian doctrine. The two services I attended followed this basic outline, with little to no deviation from the bulletin. Rather than a bulletin, the Juneau Court House conducts its arraignments according to a calendar, which is posted outside the door to indicate which cases will be addressed on a particular day. A judge or, in this case... ...Well, we could go with Lustig and Koester's definition: â€Å"Culture is a learned set of shared interpretations about beliefs, values, and norms, which affect the behaviors of a relatively large group of people† (27). But why not use a timeless analogy? Cultural identity is a tapestry, a tapestry of one's social interactions, traditions, values, philosophy on life, and so on. Culture is not purely family or ethnicity or location or religion; it is an amalgam of these things—a unique weaving of what makes up our everyday lives. Works Cited and Consulted Jandt, Fred E. An Introduction to Intercultural Communication: Identities in a Global Community. 4 th ed. Thousand Oaks, CA: Sage Publications Inc., 2004. Lustig, Myron W., and Jolene Koester. Intercultural Competence: Interpersonal Communication across Cultures. 4 th ed. Boston: Pearson Education Inc., 2003.

Civil War And Reconstruction Essay

The Civil War is the most widely written about event in American history and Reconstruction is the most mis-understood and least appreciated subject within this wider issue. Most people would prefer to escape into the heroic exploits of the battles that were fought than deal with the difficult social problems that the former enslaved population had to deal with. I am offering this essay since I believe that the African-Americans have been done a great disservice by the Nation. As a people they were forcibly brought to this land, they were enslaved in an illegal and immoral system, and then they were abandoned by that same Nation ostensibly after having their freedom returned. What happened to them was not fair and there is a debt due to them. I hope to show in this paper some of the offenses that I find glaring. What was Reconstruction supposed to accomplish? Was it supposed to provide a new economic start for the freed peoples? Was it supposed to rebuild and reorder the state governments that had seceded? Was it supposed to prosecute and imprison former Confederate officials? These questions were never fully answered, and for the most part they were never even adequately addressed. Liberals and African-Americans are more sensitive to the burden of the unfulfilled promise of Emancipation and Reconstruction, while so-called â€Å"realists† and conservatives proclaim that too much help has already been given (think: â€Å"Affirmative Action†). The truth though, does not lie neatly in the middle between these extremes. Horrific treatment was an unpleasant fact for the enslaved peoples, and they were denied an equal opportunity to enter fully the American body politic. To make matters worse this bitter cup of â€Å"denied citizenship† is still too often a fact today. Recently, the folk singer Bob Dylan (Rolling Stone, Sept. 2012) has said â€Å"†¦the country will never be able to rid itself of the shame of being founded on the backs of slaves. † I would like to rehearse some of the story of Slavery, some critical events in the war and afterwards, and to offer a reasonable suggestion for Restitution. The introduction of African Slavery to these shores was an unplanned event although the Spanish and the Portuguese had been involved with this trade for almost 100 years in this hemisphere before it appeared here. These are some of the highlights of that practice here: The first African slaves were 19 people, who in 1619 were captured by Dutch sailors from Spanish slave traders. Subsequently they were sold to the colonists at Jamestown for food. Initially, these people worked as indentured servants but they ultimately gained their freedom after completing a â€Å"work contract† for the colonists. The phrase â€Å"indentured servant† is misleading in this case since its modern usage means someone who works for a fixed period and is then manumitted. This was not the arrangement that was applied to the African captives who arrived later than these initial individuals did, since the practice gradually evolved to treat the adults as well as the children of the female slaves as also enslaved people (partus sequitur ventrum) 2.  Another misleading statement is that the term â€Å"servant† was widely used in the South, even past 1865, to refer to African people who were actually enslaved. Therefore, not much credence should be put into the seemingly benign phrase of â€Å"servant†3 when applied to these unfortunate human beings. The cost of this labor was attractive to the colonists since by 1638 an enslaved African laborer could be purchased for $27 while a European indentured servant cost a planter $255 for one year’s work. 4 The economic appeal of enslaved African laborers became the norm and quickly spread throughout the colonies.  After twenty years, ordinances legitimizing enslavement were commonplace in almost every colony and the practice had morphed into bondage for life, or more properly, chattel slavery. 5 These practices were immoral; they had no place in a respectable society. The pernicious tendency to view the Africans through the white supremacist lens quickly became dominant and was a concomitant of this chattel slavery. This was punctuated by the knowledge that Europeans were never enslaved while most enslaved people were Africans. The skin color of the enslaved became a facile marker that fit in well with the culturally supremacist view of the European colonists. In this section I try to show how the African Slave System, after gaining a foothold went on to become the most important part of the economy of the new Nation: As the profitability of the colonists’ agricultural enterprises quickly rose, it was essential to procure a sufficient number of workers since labor shortages were a constant headache. 7 Enslavement of the Indigenous Peoples had become steadily more problematic and by the 1750’s this practice had ceased altogether. European workers were both expensive and tended to leave their employers to start plantations of their own, or to return home. Therefore, a more reliable source of economically viable labor became a necessity, and that baleful need coincided with the rise of the Trans- Atlantic Slave Trade from Africa. This phenomenon was heaviest during the 16th through the 19th centuries,9 when an estimated 11 million captives from Africa were ultimately landed at Western Hemispheric destinations out of 15 million who had been loaded onto these horror-filled ships. 0 The differences in these numbers were human beings who had died en route through miserable treatment meted out by the slave traders. The attrition rate during these voyages was a startling 0. 36 persons for every person who disembarked in the New World. We should not forget these stark truths. About 650,000 ~ 720,000 apprehended persons of the numbers shown above,11 it is thought, were brought into what was to become the United States. Employing the attrition rate noted before we can estimate that about 245,000 people were lost from the aggregate number of cap tives bound for these shores. Given the losses in the war that was to come it’s almost as though the Divine Being had decided to punish this country for these sins at a rate of three-to-one. By 1860, the survivors had increased through natural growth to more than 4. 000,000 enslaved and freed peoples12 and were primarily located in the states that were to become part of the Confederacy (76% there and another 18% in the Border States13). What fueled this enormous increase in the numbers of the enslaved was that starting in the 1790’s the revolution of the cotton gin and the corresponding leap in cotton exports demanded an exponential rise in subservient labor. So what had started as a straightforward small-scale agricultural experiment, primarily growing foodstuffs, had metastasized into an industrial system practically keeping the Nation afloat with its lucrative revenues. Before the war began the cotton trade – or more realistically â€Å"King Cotton† – constituted 2/3 rds of the wealth of the Nation. 14 What motivated these slaveholders to import and retain so many African Laborers besides the economics? Evidently the lure of being a member of an aristocratic leisured-class was appealing. Most of the apologists for these slaveholders had classical education, and they employed arguments from Greek and Roman Antiquity, which portrayed slavery as a prominent component of the civilizing mission they were engaged in. Their lower income regional compatriots, although not slave owners themselves, were eager to emulate this conduct, which they viewed as valuable and status-filled. The Southern way of life was born: it was profitable for the elite; it was an identity vehicle for the lower classes; but it was hellish for the enslaved. Further, it was built upon the most cruel and involuntary system imaginable which had as a mainstay the dissolution of the Africans’ families both here and in their original homelands. The American governmental establishment – at all levels -bears the greatest guilt for this outrageous affront. It is important to recall that these slave traders and slaveholders were in many cases prominent members of the various governments that acceded to or promoted this horrific conduct. The enslaved people, it should be remembered, did not voluntarily agree to be forcibly dragged to these shores. Despite the claims made by the â€Å"Slavocracy† that they were performing a civilizing mission by maintaining this obscene practice, the only positive good was that the lives of the slaveholders was being enhanced! EXASPERATION After Slavery had become such an integral component of the Nation, regional differences in the attitudes towards that infernal system began to be felt all around. Exasperation was the order of the day but the African enslaved people were suffering the most: There were three sets of players in this tragedy: the Northern Whites; the Southern Whites (slaveholders and on-slave holders); and the enslaved Africans. It is unequivocally true that the enslaved peoples did not create nor did they benefit from this monstrous catastrophe. The other groups however, either benefited in a direct way or thought their social status was improved through the bacillus of racism. Exasperation however, was shared by all to some degree. The Northerners became progressively m ore dissatisfied with their impotence following the Revolution while the Southerners were increasingly anxious that the North was lining up new Free Soil states that would nullify their voting majorities in Congress. The enslaved though, were in anguish since everything that people could cherish was systematically being denied to them after they had been wrenched away from their homes. The enslaved increasingly attempted to build an alternate life, sub-rosa as it were, by fleeing their masters or by engaging in sabotage or willful incoherence. 15 They also constructed a parallel universe of their own by founding separate places of worship (the Whites did not allow the enslaved to be an equal part of their devotional services) and their own systems of less-than-formal education. t was during this period that it could be said that a new genus was born – the â€Å"African –American†. What they did not have was any significant power over their futures except as ad hoc combinations that could be assembled, when conditions permitted. They expressed this through manifestations such as the Underground Railroad16 (which saw 6,000~ 30,000 African-American flee; figures are imprecise), various slave rebellions (some bloody), and a general unwillingness to be smothered by enslavement (conduct just short of insurrection). Another group, though small in numbers, was the Free Blacks. These people became the vanguard of the African-American middle and professional classes that successfully operated between the seams of the larger society. The actions of this sub-group were able to relieve some of the pressures that had built up in the larger body of enslaved African-Americans and help to point the way for a more prosperous life for all.

Tuscan Columns From Roman Architecture

Tuscan Columns From Roman Architecture The Tuscan column - plain, without carvings and ornaments - represents one of the five orders of classical architecture and is a defining detail of todays Neoclassical style building. Tuscan is one of the oldest and most simple architectural form practiced in ancient Italy. In the United States, the column named after the Tuscany region of Italy is one of the most popular column types to hold up American front porches. From the bottom up, any column consists of a base, a shaft, and a capital. The Tuscan column has a very simple base upon which sets a very simple shaft. The shaft is usually plain and not fluted or grooved. The shaft is slender, with proportions similar to a Greek Ionic column. At the top of the shaft is a very simple, round capital. The Tuscan column has no carvings or other ornamentation. Fast Facts: Tuscan Column Shaft is slender and smooth, without flutes or groovesBase is simpleCapital is round with unornamented bandsAlso known as Tuscany column, Roman Doric, and Carpenter Doric Tuscan and Doric Columns Compared A Roman Tuscan column resembles a Doric column from ancient Greece. Both column styles are simple, without carvings or ornaments. However, a Tuscan column is traditionally more slender than a Doric column. A Doric column is stocky and usually without a base. Also, the shaft of a Tuscan column is usually smooth, while a Doric column usually has flutes (grooves). Tuscan columns, also known as Tuscany columns, are sometimes called Roman Doric, or Carpenter Doric because of the similarities. Origins of the Tuscan Order Historians debate when the Tuscan Order emerged. Some say that Tuscan was a primitive style that came before the famous Greek Doric, Ionic, and Corinthian orders. But other historians say that the Classical Greek Orders came first, and that Italian builders adapted Greek ideas to develop a Roman Doric style that evolved into the Tuscan Order. Buildings With Tuscan Columns Boone Hall Plantation, Mount Pleasant, South Carolina. John Moore/Getty Images (cropped) Considered strong and masculine, Tuscan columns originally were often used for utilitarian and military buildings. In his Treatise on Architecture, the Italian architect Sebastiano Serlio (1475–1554) called the Tuscan order suitable to fortified places, such as city gates, fortresses, castles, treasuries, or where artillery and ammunition are kept, prisons, seaports and other similar structures used in war. In the United States, many antebellum plantation homes were adorned with Tuscan columns, as the Greek Revival style suited the authority demanded of the masters house. Tuscan columns projected a nos include Boone Hall in South Carolina, the Rosalie Mansion in Natchez, Mississippi, Houmas House plantation near New Orleans, Louisiana, and the 1861 Gaineswood plantation house in Demopolis, Alabama. The Long Branch Estate in Millwood, Virginia was built in the Federal style in 1813, but when porticos and columns were added around 1845, the house style became Classical (or Greek) Revival. Why? The columns, Tuscan in the North and Ionic columns in the South, are features of Classical architecture. Franklin D. Roosevelts Little White House, Warm Springs, Georgia. Bettmann/Getty Images (cropped) In the 20th century, builders in the United States adopted the uncomplicated Tuscan form for wood-framed Gothic Revival, Georgian Colonial Revival, Neoclassical, and Classical Revival homes. With simple, easy-to-construct columns, simple homes could become regal. Residential examples abound throughout the U.S. In 1932, the future president Franklin Delano Roosevelt built a home in Warm Springs, Georgia, hoping to find a cure for his polio by swimming in the warm waters of the south. FDR chose a classical approach to his Little White House, with a pediment being sustained by the strength of the Tuscan columns. Tuscan Columns on Shingled Cottage. Compassionate Eye Foundation/Getty Images Adding a portico with columns, even simple columns, can add grandeur to a home - and affect the entire style. Even the informality of shingle siding can be transformed by a simple white column. The Tuscan column is seen throughout the world in residential architecture. Carpenters could easily shave and shape long wooden pieces to desired heights. Today, manufacturers produce all types of columns from all types of materials. If you live in a historic district, however, the type of column and how its made is very important when repairs are necessary. Although the homeowner can achieve the Tuscan look with a polymer plastic column, historic preservationists encourage replacing rotted wooden columns with new wooden columns. It could be worse - remember that Tuscan columns used to be carved from marble stone, a replacement that no historic commission would enforce. Columned Porches in Salem, Massachusetts. Jackie Craven Slender and unornamented, Tuscan columns are perfect to support the height of multi-story front porches. By painting them the same color as the molding, rails, and trim, the columns become integrated into the design of a New England home. Tuscan columns can be found on many front porches across the U.S. A colonnade, or a series of columns, is often made up of Tuscan columns. The simplicity of its individual design creates a majesty when many columns are evenly spaced in rows. The colonnade at Saint Peters Square in Vatican City is a well-known example of Tuscan columns. Likewise, sections of the colonnade walkways on the Lawn of Thomas Jeffersons University of Virginia also represent the Tuscan Order. Colonnade at the University of Virginia. Jay Paul/Getty Images The Tuscan column may be Italian in origin, but Americans have embraced the architecture as their own - in large part, thanks to Americas gentleman architect, Thomas Jefferson.

Wells Fargo Company

Wells Fargo Company This article is going to discuss different ways and situations of analyzing a company’s, profitability, sustainability and its moving forward.Advertising We will write a custom essay sample on Wells Fargo Company, Its Profitability, Sustainability and Moving Forward specifically for you for only $16.05 $11/page Learn More The article is also going to highlight different types of analysis and how they differ from one another in relation to purpose and profitability. The article is going to have a look at Well Fargo’s analysis. There are different situations, which lead to the companys analysis. The company might choose to assess various sections that constitute to the whole company for various purposes. One of the main purposes of conducting an analysis on a company is to determine its position in relation to profitability. A company’s profitability is never stagnant; a company is moving either forward or backwards. A company will never b e at the same position in relation to profitability. There are different types of analysis; they differ from one another in regards to purpose and methodology. A research will always have a unique way through which it looks at the details presented in the aim of research. The SWOT system of analysis is one of the most effective methods of analyzing a business organization. The SWOT analysis highlights strengths, weaknesses, opportunities and threats. Through this analysis an organization is evaluated into the fine details. The company’s strengths can be seen in the ranking it has received from world renowned financial analysts. The company is listed as the best small business lender, best agricultural lender, second best debt card issuer, second best prime home-equity lender, third best mutual fund provider among the U.S. Banks. For instance, the company is the 18th most respected company in the world. This was a ranking established by Barrons. Wells Fargo has been ranked as the 17th most profitable company all over the United States. The organization has received the â€Å"Aaa† credit rating from Moody. The company has a good relation with the community, the customers, and the team members. The company has been ranked as the 41st in relation to revenue in the United States. This ranking was given by the Fortune 500. Another area where the company’s strength is displayed is in relation to organization. The company’s organization structure is set up in a manner that helps various departments and branches to work as a single body. The Wells Fargo Bank has been established as the first bank in the United States as of 2008 (Fradkin, 2002).Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More The company has two major weaknesses. These weaknesses are presented in bad mortgages and low debit card market share. One of the major areas where ot her competitors beat this company is in relation to debit cards. Whereas other financial institutions are focused on providing debit cards for their customers, this company has been left behind. For this cause, Wells Fargo has been constantly loosing customers. The market share that the company continues to lose every other day where debit cards are being used in the market is a loophole through which competitors continue to enjoy other benefits. The other weakness of the company is in relation to bad mortgages. As a lender, there are mortgage problems that the company continues to face every day as the credit market continues to experience problems (Navarro, 2006). The opportunities the company is presented with, include reduced competition, cross-selling options, consolidating industry, international expansion, and Wachovia. In relation to international expansion, the company is looking to establish a strong presence in the international market as well as increasing the growth and profits. In the event the company is to venture out into international markets, it would experience improved synergies and the customer base would increase. The opportunities would also improve the company’s financial stability as well as enhancing the individual economies in the countries where it has been established. Innovation will increase the company’s profitability (Ferrell Hartline, 2010). The threats that the company faces include mortgage issues, credit market crisis, slow expansion of mortgages, credit cards write offs, housing crisis, and government intervention. The credit market is perceived as a threat mainly because of the effect it has on cost of borrowing. Shareholders fail to benefit mainly because the free cash flow is interrupted. This also affects margins adversely. The housing crisis has two major effects that qualify it as a threat to the operations of Wells Fargo. The housing crisis is responsible for the decrease in value of equity and compa ny assets as well. This has the effect of making business slow and reducing its profitability. The pressure also affects the growth of equity and cash flow. Although the government is a big customer for the company, there is always some pressure on the intervention it provides. In the event the company intervenes, the effect is felt on stock. The stock is usually under pressure in the event such intervention is launched. The government involvement in business also comes with its adverse effects.Advertising We will write a custom essay sample on Wells Fargo Company, Its Profitability, Sustainability and Moving Forward specifically for you for only $16.05 $11/page Learn More For instance, the government has been associated with past problems and these have led businesses to experience huge losses. In the event the company ventures into a market where the industry is regulated by the government, there are adverse effects that the company is set to experience. These adverse effects are usually rooted in the manner the government makes its decisions. In the light of the fact that the government makes decisions, various businesses are set to flourish. Taking into consideration that these decisions are not based on the welfare of the citizens, the businesses will suffer, too. The involvement of government in business is also a risky affair as it brings it political risks. Credit card write offs also decrease the profitability of Wells Fargo (Fradkin, 2002). References Ferrell, O.C. and Hartline, M. (2010). Marketing Strategy. Ohio: South-Western Cengage Learning. Fradkin, P.L. (2002). Stagecoach: Wells Fargo and the American West. New York: Simon Schuster Publishers. Hume, J.B. and Thacker, J.N. and Wilson, R.M. (2010). Wells, Fargo Co. stagecoach and train robberies, 1870-1884: the corporate report of 1885 with additional facts about the crimes and their perpetrators. North Carolina: McFarland Co. Navarro, P. (2006). The Well-timed Strat egy: Managing the Business Cycle for Competitive Advantage. New York: Wharton School Publishing. Paul, R. Elder, L. (2006). Critical thinking: Tools for taking charge of your learning and your life (2nd ed.). Upper Saddle River: NJ: Prentice Hall.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More

Free Essays on Social Change

Abstract When treating psychological patients, there are many factors which need to be considered. In fact, depending on the problem, the context under which the evaluation takes place may influence the outcome of the evaluation. Looking for solutions to psychological problems, there are times when known relationships can be leveraged to make a difference. In this paper, the relationship between education and poverty, in light of psychological inquiry, will be considered, compared and contrasted within multiple contexts. Social Change in Context: Poverty and Education Introduction During treatment, it is important to establish an open, honest relationship with the psychologist; however, often times a client may be embarrassed, or ashamed to be completely honest. For example, when an individual has not achieved even a minimal degree of education, say past grade school, or when an individual’s financial situation places him/her below the poverty line. As clinicians, the way patients are treated, the advice they are given and ultimately the path chosen to move past illness may have a profound impact on the individual’s life. As a result, many persons who are poverty stricken, or who have not gone through basic education training may choose not to reveal these facts for fear of being ridiculed. That is to say, persons who struggle financially, people who have not achieved in the world of academia may have a difficult time in treatment. Is difficulty cause by clinician bias? What about client bias? â€Å"Will the Psychologist understand the plight of someone in my situation†? â€Å"Will the psychologist treat me differently†? Surely the daily struggles of an individual who has concerns about paying for the next meal, or the daily grind of an individual who cannot read will impact the possibility for the individual to build and maintain a relationship, especially a relationship clinical in nature. Is it possible, howeve... Free Essays on Social Change Free Essays on Social Change Abstract When treating psychological patients, there are many factors which need to be considered. In fact, depending on the problem, the context under which the evaluation takes place may influence the outcome of the evaluation. Looking for solutions to psychological problems, there are times when known relationships can be leveraged to make a difference. In this paper, the relationship between education and poverty, in light of psychological inquiry, will be considered, compared and contrasted within multiple contexts. Social Change in Context: Poverty and Education Introduction During treatment, it is important to establish an open, honest relationship with the psychologist; however, often times a client may be embarrassed, or ashamed to be completely honest. For example, when an individual has not achieved even a minimal degree of education, say past grade school, or when an individual’s financial situation places him/her below the poverty line. As clinicians, the way patients are treated, the advice they are given and ultimately the path chosen to move past illness may have a profound impact on the individual’s life. As a result, many persons who are poverty stricken, or who have not gone through basic education training may choose not to reveal these facts for fear of being ridiculed. That is to say, persons who struggle financially, people who have not achieved in the world of academia may have a difficult time in treatment. Is difficulty cause by clinician bias? What about client bias? â€Å"Will the Psychologist understand the plight of someone in my situation†? â€Å"Will the psychologist treat me differently†? Surely the daily struggles of an individual who has concerns about paying for the next meal, or the daily grind of an individual who cannot read will impact the possibility for the individual to build and maintain a relationship, especially a relationship clinical in nature. Is it possible, howeve...

Incorporating Quality Through Business Excellence Models Case Study

Incorporating Quality Through Business Excellence Models - Case Study Example TQM is the management function, which should be incorporated in all the processes that will happen in an organization. Furthermore, if Excellence is inbuilt into that TQM, then there will be optimal quality in all the processes, making the organization’s every initiative a successful endeavor. So, this paper by focusing on the â€Å"Excellence Models† from the perspective of TQM, will discuss how excellence can be managed optimally in an organization with the leader playing the optimal role. According to princeton.edu, Excellence can be defined as the â€Å"quality of excelling and also possessing good qualities of the highest degree†. The term gives the same meaning when analyzed from the organizational perspective as well. That is, when the organization manufactures products or offers services, during that process, they have to incorporate quality in every level. Only if the quality is incorporated at every level, the product or service will be of optimal quali ty, when it reaches the intended clients. Otherwise, the clients can find out the deficiency in quality in the initial stages or later, and surely it will be disliked by them. While trying to achieve than expected quality, organizations in many sectors will also or should also try to achieve excellence. This standard or level of excellence could be something that is set by the organization themselves or by certain external agencies focusing on quality testing and certifications. Thus, if the organizations following its own quality standards or external standards, achieve excellence in quality, it can maximally reach the ‘minds’ of the customers. When they entice their minds, they can ‘make’ the customers use their hands to buy the product or utilize the services.

Dissertation- Introduction and theoretical background Essay

Dissertation- Introduction and theoretical background - Essay Example a 228-home tower block, an exemplary innovation which satisfies the Energy Efficient Building requirements; also exhibiting values of sustainability like ensuring the well being of its inhabitants, signifying usability and appropriation of space (BNPParibas, 2012). High-rise tower blocks were made possible as living systems with the advent of the elevator (Princeton, 2012). A Tower Block or a High-Rise is a tall multi-story building or structure used for residential or official purposes, occasionally also referred to as an MDU, Multi Dwelling Unit (Princeton, 2012). They offer not only accommodation but also consist of offices, shops and other community based needs. Tower blocks are becoming a distinguished accommodation solution in the highly populated cities around the world, as they provide technical and economical advantages in urban settings with high density population (Price & Myers, 2012). High-rise towers provide dwelling for more people than solitary homes, while occupying less space and can specially be resourceful in communities with single unit families/couples. High rise tower blocks have been a part of urban high population solution for a long time. Its traces are found through history; in major cities like ancient Rome along with other large cities of the empire; to the Roman Egypt which consisted of up to seven stories buildings; to the Arabian Egypt which had buildings to house hundreds of people in number (Princeton, 2012). The concept of the tower block has been evolving with the ages as people evolve as a society. Where there are those who advocate the residential high rise tower blocks as a solution to the dense cities of the modern times; others tend to view it as an unsuitable solution for the modern city with no pedestrian presence, density, and movement, thus bearing no resemblance with the concept of a traditional city (Pagliardini, Porta & Salingaros, 2008). Traditional cities are known for their hustle and bustle, and the

Addictions Theory Essay Example | Topics and Well Written Essays - 500 words - 3

Addictions Theory - Essay Example To expound on these observations, Tiffany created a cognitive model, which maintains that cognitive processing by humans incorporates both non-automated and automated processes. Tiffany’s theory is the most accurate because as she puts it, the automatic process is usually characterized by performance of the task being fast, the behavior is usually elicited by specific stimuli, the behavior is very difficult to inhibit, easy to carry out, and can be conducted without significant conscious awareness (Thombs & Osborn, 2013). This is one of the best ways of explaining relapse mostly because the automated part of the theory that maintains a task being performed fast and being difficult to inhibit expounds one side of relapse, which is correct. Tiffany goes ahead to suggest an example of the automated where she maintains that an individual can drive a vehicle to a familiar destination without the requirement of much awareness. In a similar instance, the automated process can lead to a compulsive drug administration on one’s self, which could be drug injection, alcohol use or smoking. This adds to Tiffany’s theory and makes it stronger. Moreover, with continued acquisition and administration of the drug, the process becomes automated, as consumption becomes a behavior, which is generated by automated cognitive processes. The drug use action-plan expounds on this issue in sequential and over time behaviors of using the drug becomes integrated within an individual in that it is efficient and effortless. This provides a clear explanation on why the administration of the drug or alcohol becomes so easy to the point that individuals are no longer keen in what they are doing. Tiffany’s model becomes more effective because it expounds on the idea of urge generation. To explain urge generation, Tiffany uses the non-automated cognitive process. Since an urge does not develop abruptly, Tiffany attempts to explain how it

Briefing a Case Essay Example | Topics and Well Written Essays - 500 words

Briefing a Case - Essay Example was an appeal against the decision of Erie County Court of Common Pleas. The lower court had denied the claimant negligence claims by from Pfeil Funeral Homes for the injury she sustained within the latter’s premises. The primary issues set for determination by the court of appeal were whether: a) the escort of the claimant by an agent of the defendant and his failure to warn her over the sharp drop on the public sidewalk was a matter of fact or law, and b) the junior court overlooked the facts about the case regarding the failure of the defendant to put a notice warning the guests of the risks of the eight-inch step down in the sidewalk. The Appellate court held that the issues of case were merely factual and not legal. As such the court affirmed the earlier ruling of the trial court, saying the claimant was not entitled to any negligence claims from the defendant. The court began by legitimizing the summary judgment of the lower court which it said was valid because: a) the issues in question did not meet the thresholds of material fact; b) the issues in question lacked the required basis in law to facilitate a fair, legal and reasonable verdict of the court and c) it would be unreasonable to impose any claims upon the defendant for the injury sustained at their premises because by doing so, the claimant would have gained more than she deserved while the defendant would have been unfairly disadvantaged by such a ruling. In addition, the court said the claimant would have been entitled to negligence claims if the statement of facts were supported by law. The court cited the precedent set in the case of Mussivand v. David (1989), 45 Ohio St.3d 314, 318, 544 N.E.2d 265, in which grounds for the awarding negligence claims arose. In the Musivand case, the court said that any negligence claims must meet three conditions: a) the duty of care owed to the claimant; b) a violation of the term, and c); the violation of the term being the proximate cause of the

Discussion Board 1-1 Assignment Example | Topics and Well Written Essays - 250 words - 2

Discussion Board 1-1 - Assignment Example Bio-psychosocial framework is an important tool in determining whether a child is age appropriately on track in development or delayed. With bio-psychosocial framework, counselors are able to understand life issues facing, children and that affects or influence their developments (Kail & Cavanaugh, 2013). The concept of genetics, heredity and diseases are important biological concepts to help in understanding variation of height, size and health with age of a given child. The concept of life cycle as contained under bio-psychosocial framework concerns the timing of processes and events in people’s life. There is particular standard time for something to occur in life of people. Psychologists and counselors may concentrate on the standards to analyze and predict issues affecting or influencing appropriate development of children. According to Kail and Cavanaugh (2013), the psychological aspect of bio-psychosocial framework dictates and explains behaviors and relationship of people with their environments. People exhibit different but almost standard behaviors at different ages in the course of their growth and development. Counselor and psychologists can analyze behaviors and other psychological definers as emotions and problem solving skills to understand whether a child is undergoing through appropriate growth process (Kail & Cavanaugh,

Mock IRB Proposal for Experimenta Psychology Class Essay

Mock IRB Proposal for Experimenta Psychology Class - Essay Example Then I planned to provide the questionnaire to different students at State universities to gauge their reactions to both the job candidates and their preference of which candidate for the job. By having students of both Caucasian and Black pigmentations take the questionnaire, I’ll be able to derive a clear idea whether racism is still present in the perceptions of young adults today. Although media and education have tried to erase the effects of hundreds of years of mental and physical slavery from the memory of American children, but the fact remains that prejudice comes naturally with human instinct (Buhler & Heim, 2001), thus even by meticulous education, people will tend to be biased against anybody who is in some way slightly different from them. According to previous studies, racism is as yet present in society and continues to have an adverse effect on the psyche of the African American community (Landrine & Klonoff, 1996). But those surveys were held on a general level, with the subjects being people from less-educated backgrounds as well as professionals and academics. I hope to be more specific and will target basically younger people who would be less susceptible to racism. In very obvious cases such as gender and pigmentation of skin, it can be easier to divulge whether bias still functions unconsciously (Landrine & Klonoff, 1996), whereas matters such as different nationality, religion, and background cannot usually be judged at first sight nowadays due to globalization (clothing, appearance are similar internationally). Hence by comparing two people identical in every manner except the color of their skin, and asking people their preference of one over the other; we can easily discover whether racism is as yet still latent in the normal American’s mindset. Another feature of interest would be whether racism is marked ‘white only’. Throughout history, the Caucasian’s remarkable ability to be hostile

Briefing a Case Essay Example | Topics and Well Written Essays - 500 words

Briefing a Case - Essay Example was an appeal against the decision of Erie County Court of Common Pleas. The lower court had denied the claimant negligence claims by from Pfeil Funeral Homes for the injury she sustained within the latter’s premises. The primary issues set for determination by the court of appeal were whether: a) the escort of the claimant by an agent of the defendant and his failure to warn her over the sharp drop on the public sidewalk was a matter of fact or law, and b) the junior court overlooked the facts about the case regarding the failure of the defendant to put a notice warning the guests of the risks of the eight-inch step down in the sidewalk. The Appellate court held that the issues of case were merely factual and not legal. As such the court affirmed the earlier ruling of the trial court, saying the claimant was not entitled to any negligence claims from the defendant. The court began by legitimizing the summary judgment of the lower court which it said was valid because: a) the issues in question did not meet the thresholds of material fact; b) the issues in question lacked the required basis in law to facilitate a fair, legal and reasonable verdict of the court and c) it would be unreasonable to impose any claims upon the defendant for the injury sustained at their premises because by doing so, the claimant would have gained more than she deserved while the defendant would have been unfairly disadvantaged by such a ruling. In addition, the court said the claimant would have been entitled to negligence claims if the statement of facts were supported by law. The court cited the precedent set in the case of Mussivand v. David (1989), 45 Ohio St.3d 314, 318, 544 N.E.2d 265, in which grounds for the awarding negligence claims arose. In the Musivand case, the court said that any negligence claims must meet three conditions: a) the duty of care owed to the claimant; b) a violation of the term, and c); the violation of the term being the proximate cause of the

Mock IRB Proposal for Experimenta Psychology Class Essay

Mock IRB Proposal for Experimenta Psychology Class - Essay Example Then I planned to provide the questionnaire to different students at State universities to gauge their reactions to both the job candidates and their preference of which candidate for the job. By having students of both Caucasian and Black pigmentations take the questionnaire, I’ll be able to derive a clear idea whether racism is still present in the perceptions of young adults today. Although media and education have tried to erase the effects of hundreds of years of mental and physical slavery from the memory of American children, but the fact remains that prejudice comes naturally with human instinct (Buhler & Heim, 2001), thus even by meticulous education, people will tend to be biased against anybody who is in some way slightly different from them. According to previous studies, racism is as yet present in society and continues to have an adverse effect on the psyche of the African American community (Landrine & Klonoff, 1996). But those surveys were held on a general level, with the subjects being people from less-educated backgrounds as well as professionals and academics. I hope to be more specific and will target basically younger people who would be less susceptible to racism. In very obvious cases such as gender and pigmentation of skin, it can be easier to divulge whether bias still functions unconsciously (Landrine & Klonoff, 1996), whereas matters such as different nationality, religion, and background cannot usually be judged at first sight nowadays due to globalization (clothing, appearance are similar internationally). Hence by comparing two people identical in every manner except the color of their skin, and asking people their preference of one over the other; we can easily discover whether racism is as yet still latent in the normal American’s mindset. Another feature of interest would be whether racism is marked ‘white only’. Throughout history, the Caucasian’s remarkable ability to be hostile

Phidias & Associates Essay Example for Free

Phidias Associates Essay In the best interest of the productivity and success of Phidias Associates, I’d like to suggest the adoption of a corporate strategy already in use by NASA and other leading countries across the world. Corporate napping is an exceptionally cost-effective and efficient way to improve the accuracy, alertness, and speed of workers by as much as 34%. The conversion of Phidias Associates to a nap friendly zone would enhance the experience of around 92% of employees. Immediate improvements in energy, creativity, problem-solving, and job satisfaction would be in the bright future of this company. The first step to realizing the reality of this advancement is the addition of a nap room to the offices of Phidias Associates. What other room in our building can offer such impressive gains for our country? A nap room doesn’t need to be elaborate. Many companies utilize a sound proof room, several couches, and a dimmer switch to provide a place for employees to recharge and renew. Rather than rearranging the office space, I’ve discovered an even easier alternative for the company to immediately begin reaping the benefits of corporate napping. The company MetroNaps rents and sells individualized EnergyPods to high-paced future-thinking organizations like Phidias Associates. For only $12,485, we could purchase an EnergyPod. There’s also the option to rent EnergyPods for only $10/per employee/per month. A productivity boom is only a small investment away! In addition to a place to nap, our employees will require one other change to fully embrace this advancement. In America, a strong negative stigma surrounds the concept of napping in the workforce. This judgment is holding back our country’s and company’s potential for success. Other countries, like Japan, and some of our own country’s top leaders, like Thomas Edison and John Kennedy, utilized napping for its purpose-the restore energy. A few brief informative meetings and distribution of educational materials could change the mindset of Phidias Associates to view napping as a tool for our company’s growth. Ten and twenty years ago, large and successful companies modernized their facilities by adding fitness centers. Realizing that physical and mental health extends beyond the benefits of exercise, corporate napping is what’s missing from our organization. By becoming a leader in the industry, we can harness the secret gains of this largely unknown trick to boosting productivity. Nap rooms benefit the executives, the employees, and the advancement of Phidias Associates. Please consider the lofty paybacks of installing a nap room and e-mail me your reply.

Sub Sector Indices and Crude Oil. Gold, Market Return

Sub Sector Indices and Crude Oil. Gold, Market Return CHAPTER 1 INTRODUCTION 1.1 Introduction The global crude oil price has been seen a sharp increase in recent years and has been widely reported in the daily newspaper or TV news. For example, popular business and financial US based website Bloomberg has been constantly providing breaking news headlines like The crude oil hits to level of $ 120 per barrel or Crude Oil Increases to 25-Month High as Commodities Gain. Besides, video clips are uploaded on the website with commentary by senior investment analyst on the last traded crude oil price with prominent TV host. It has been noted that rising crude oil prices has created jittery and uncertainty in the financial market. For example, any negative news on price increase or disruption to oil supply will cause stock market indices like Hang Seng Index, Nikkei 225, STI (Straits Times Index), Shanghai Composite, Seoul Composite, and others regional markets to fall sharply knee jerk reaction from the investors on panic selling . Theoretically, soaring of crude oil prices will cause inflation and inadvertently would cause interest rates to go up. Consequently, this would impact various segments of the financial market especially the stock market. It has been argued that continues rising on global oil price will eventually erode the company profit margin. Basher, Haug, and P. Sadorsky (2010) found that oil price can affect prices directly by impacting future cash flows or indirectly through an impact on the interest rate used to discount future cash flows along with in the absence of complete substitution effects between the factors of production and rising oil price. For example, there would be an increase in the cost of doing business as cost of capital will increase. In financial terms, discounting the free cash flow with the higher discount rate (cost of capital) will cause the fair value of stock price valuation to decrease significantly from previous valuation. J.Happonen (2009) also highlighted that spi king high prices on crude oil will affect greatly the poor as fuel costs are most significant in food production and transportation cost. High oil costs also hit various economies on a macro-level. Commodity analysts employ various types of methodology e.g. fundamental or technical analysis to forecast the future trend of the crude oil price meanwhile investment bankers start to develops and launches a new commodity mutual fund or unit trust products to attract attention on the public. As a precaution and in order to protect their investment, risk adverse investors are moving their assets into the safer assets like precious metal, e.g.; gold, silver and etc. According to Basher Sadorsky (2006), oil is the lifeblood of modern economies. When growth of Growth Domestic Product (GDP) of the countries are rapidly increasing like BRICs (Brazil, Russia, India, and China), total demand oil of the countries will increase significantly. There is a positive relationship between the crude oil price and global gold price trend in the market. The linkage of gold between the risings of crude oil price has been investigated and empirical studies show that the two commodities are correlated each others. P. Narayan, S. Narayan and Zheng (2010) examine the long-run relationship between gold and oil spot and futures markets at different levels of maturity and found a significant positive correlation between crude oil and gold price. The most oil producers Organization of the Petroleum Exporting Countries (OPEC) members are from Islamic country such as Iran, Iraq, Saudi Arabia, Libya, and etc. Based on the Islamic historical studies, Islamic law is forbids the use of a promise of payment such as fiat money USD dollar acting as a medium of exchange. Thus, most of members try to diversify their vast US dollar revenue holding into precious metals e.g. trade in gold Dinar and Dirham. The concept of Gold Dinar System was mooted out by our former Prime Minister Malaysia Tun Dr. Datuk Seri Mahathir on year 2002 before. The purpose of adopted the gold Dinar and Dirham is to represent the solely currency for international trade and prevent the Asia currency crisis 1997 to happen again. Meanwhile, some of the members also refused to accept USD as currency trade on the crude oil like Iran and Venezuela have been pushing for a switch to the euro to protect the value from further losses. This caused by US government adopted t he ease monetary policy on keep printing their money to curb the recession economy. Ultimately lead to USD dollar depreciated value relative with the Middle East oil producers currency. 1.2 Problem Statement Oil has been an important commodity and influences the economic activities of the country. On the other hand, gold has been used as important hedging tools to hedge against inflation which among others has been caused by rising oil prices. At present, with the present escalating oil prices, the world economy is grappling to contain inflation and ensure that the economic growth is not derailed. As a result, commodities like crude oil and gold has been a subject of studies by academics in various countries. Gold has been used as a good indicator of expected inflation in the market while oil is a barometer for deflation. Thus, when inflation is expected, investors will divert their asset to the gold portfolio to protect their asset value. On the other hand, when deflation is expected investor will reallocate their funds and start to buy safer government bond. This reaction can partially be explained by behavioral finance whereby the investor is irrational and market is an imperfect. A large body of empirical research has been conducted on the impact of oil prices and other macro variables with relation to the stock market. Wang, CP. Wang, and Huang (2010) attempt to establish the relationships among oil price, gold price, exchange rate and international stock market. They investigated the fluctuations in crude oil price, gold price, and exchange rates of the US dollar against other various currencies on the stock price indices of the United States, Germany, Japan, Taiwan and China respectively, as well as the long and short-term correlations among these variables. G. Sharma, A. Mahendru, (2010) studies on the impact of macro-economic variables on stock prices in India. In Malaysia, Shaharudin and Hon (2009) extended the research to investigate the stock return in relation with firms size and macroeconomic variables (Consumer Price Index, Industrial Production Index, Money Supply, Interbank Money Market Transaction, three months and six months Treasury Bills Disc ount Rate and crude oil prices) and found that stock return were significantly influenced by selected macroeconomic variables. Based on the importance of two commodities prices and gold, this paper is attempt to investigate and address the significant level of relationship between the commodities and the selected 10 major sub-sector components indices in FBM Kuala Lumpur Composite Index (KLCI). There have been limited researches studies on the different degree of impact of the crude oil price, gold price, market return, and short-term interest rate against sub-sector components index. A small number of studies were mainly using stock index FBM Kuala Lumpur Composite Index (KLCI) as the general proxy for overall performance of stock market. However, the stock index consist a numbers of sub sector components index in FBM Kuala Lumpur Composite Index (KLCI) it may not be a true reflective of a particular contribution of a sector to the overall stock market index. Thus, in our research will studies on these and examine the degree of significant level for commodities impact to a particular sub sector composite in dex. 1.3 Objective of the Study The main objective of the study is to examine the relationship of majors sub-sector indices between the crude oil prices, gold prices, market return, and short-term interest rate. The study will includes the examination of correlation between sub sector indices and 4 other variables as mentioned earlier. A sub-analysis on the gold oil ratio will also be conducted. Gold oil ratio is a barometer of economic vibrancy and when times are good; the ratios indicator remains low and these reflect a relatively robust priceand demandfor crude oil. When fear is pervasive or the economy slumps, the ratio is high, as gold is chased by investors looking for a safe haven. In other words, this would infer that when the current ratio is below the benchmark, gold price is either too cheap or crude oil is too expensive. When the ratio is greater than benchmark, it will mean otherwise. 1.4 Significance of the Study The economies of the world are now integrated in terms of trade and capital flows with formation of global network across different region. As such, when financial crisis occur, it will have systematic effect throughout the world. A clear example is the occurrence of U.S. Sub-prime crisis which happened in 2009 and present year Euro Zone Debt Crisis was created contagion effect to the global economy. With advancement of technology and innovation of financial product, risk adverse investors should be more alert on the important signals or indicators as a guide to monitor and time the market to avoid any unexpected risk. The aim of this paper is to study the relationship of oil prices, gold price, market return, and short-term interest rate on majors selected sub-sector index. The results on this study will add to the body of knowledge and assist policymakers like Bank Negara Malaysia as well as pratictioners such as corporate managers and investors to participate in the stock market. It also enhance their understanding on the level of impact on the four (4) variables to the selected sub-sector indices. The Arbitrage Pricing Theory (APT) postulates that every investor believes that the stochastic properties of returns of capital assets are consistent with a factor structure. For the purpose on this study, the APT model was adopted in evaluating the major sub-sector components indices relationship with various macroeconomic risk factors. The conclusion of the study shall enrich investor understanding on some sub-sector industries relationships to macroeconomic risk factors. Thus, smart investors still have a chance to explore it and gain return on that sub-sector industries. 1.5 Definition of Terms KLSE (Kuala Lumpur Composite Index) The FBM Kuala Lumpur Composite Index (KLCI) is used as a proxy for the performance of the Kuala Lumpur Stock Exchange and comprises the largest 30 companies listed on the Main Board by full market capitalisation that meet the eligibility requirements of the FTSE Bursa Malaysia Ground Rules. The two main eligibility requirements stated in the FTSE Bursa Malaysia Ground Rules are the free float and liquidity requirements. London Bullion Market (LBM) (U$ Troy Ounce) price Index shows the performance of gold prices over time per troy ounce. The troy ounce is a weight measure for precious metals, which is still used in the Anglo-American zone. It is named for the French city of Troyes. Crude Oil WTI (West Texas Intermediate) Known as Texas light sweet, is a type of crude oil used as a benchmark in oil pricing. It is a light (low density) and sweet (low sulfur) crude oil. It is the underlying commodity of New York Mercantile Exchanges oil futures contracts. T-Bill band 4 T-Bill band 4 is type of money market instrument. The Malaysian Treasury Bills (MTB) issued by the Central Bank of Malaysia are tradable on yield basis (discounted rate) based on bands of remaining tenure (e.g., Band 4 = 68 to 91 days to maturity). The standard trading amount is RM5 million, and it is actively traded in the secondary market. This instrument represents the short-term interest rate in the Malaysia money market. The high or low interest rate will make bonds look more attractive than stock and consequently impact the stock price return. Sub-sector Price Index Major sub-sector prices index are the 10 majors sub-sector price index consist of Consumer, Plantation, Finance, Trading and Services, Industrial, Industrial Products, Construction, Mining, Properties, and Technology. Each index is representing overall performance instituted on sub-part of FBM KLCI index. CHAPTER 2 THEORETICAL FRAMEWORK AND LITERATURE REVIEW 2.1 Introduction This chapter provides a comprehensive review on the empirical evidences on four (4) variables and the theories on Arbitrage pricing Theory (APT) model and Efficient Market Hypothesis (EMH). It will provide a better understanding of the relationship between variables and sub-sector component indices performance. 2.2 Macroeconomic Factors Choo, Lee and Ung (2011) investigates the behavior of Japanese stock market volatility with respect to a few macroeconomic variables including gold price, crude oil price and currency exchange rates (Yen/US$). The authors using the performance of GARCH models and Ad Hoc methods to carried out a comparison study. Their results show that macroeconomic variables used in this study have no impact on the volatility of Japanese stock markets and the simplest GARCH (1, 1) model yields the best result. Maysami et al. (2004) study on relationship between macroeconomic variables and stock market indices: co-integration Evidence from Stock Exchange of Singapores All-S Sector Indices and based on the study concludes that the Singapores stock market and the property index form co-integrating relationship with changes in the short and long-term interest rates, industrial production, price levels, exchange rate and money supply. 2.3 Crude oil Based on the past study from Huang et. Al, (1996), they found that oil future returns do not have much impact on SP 500 Index. On the other hand, Al-Rjoub,Samer Am* (2005) investigated the effect of oil price shocks in the U.S. for 1985-2004 using VAR Mixed Dynamic and Granger Causality Approaches to study the whether the U.S. stock market react to the oil shocks, a big importer of crude oil. They found that from VAR suggests that oil shock affect the stock market returns in the U.S. oil price are important in explaining the stock market reactions. According to Basher Sadorsky (2006), oil is the lifeblood of modern economies and can have significant impact on the growth of a countrys economy. In addition, Driesprong, Jacobsen and Maat (2004) found that investors in stock markets under react to oil price changes in the short run. Recent study by Charles (2009) found that higher volatility in both gold price and oil price reduces volatility of stock price. Some studies directly tested the relationship between oil prices and stock values. Huang, Masulis and Stoll (1996) applied vector autocorrelation models to find the time-series relationship and concluded that crude oil futures lead stock prices of oil companies. However, they were unable to bring a conclusion for any significant relationship to other stock prices. In addition, the volatilities of crude oil futures lead the volatilities of oil industry stock index. A related study (Sadorsky, 1999) had different conclusion. It showed that oil prices as an important factor which predicts stock prices very well. Sadorsky (2003) used vector autocorrelation model to verify the importance of oil price, federal fund rate, CPI, fo reign exchange as variables to describe the performance of technology stock prices. Hamilton (2008) examines the factors responsible for changes in crude oil prices and the statistical behavior of oil prices. The study includes the role of commodity speculation, Organization of the Petroleum Exporting Countries (OPEC), and resource depletion and found that although scarcity rent made a negligible contribution to the price of oil in 1997, the situation at present would be different and crude oil prices might play an important role. 2.4 Gold Melvin and Sultan (1990) consider a different approach of establishing the relationship between gold and oil markets. Their study was based on the implication of the gold prices through the export revenue channel. As gold is an integral part of the international reserve asset of several countries, including the oil producing countries, their finding reveal that stock shock will leads to expectations of official gold purchases and this in turn will make the expected future price of gold to soar higher. Sultan (1990) argue that when oil price rises, the oil exporters countries will benefit in terms of higher oil revenues. This in turn may have implications on the price of gold especially when the gold consists of a significant share of the asset portfolio of oil exporters (relative to other nations) and oil exporters purchase gold in proportion to their wealth. The impact on this will lead to an increase in demand for gold and subsequently rise in price of gold and ultimately an oil pr ice rise leads to a rise in gold price. Ismail et al. (2009) develop a forecasting model for gold prices using Multiple Linear Regression Method to predict gold prices based on economic factors such as inflation, currency price movements and others. They argue that investor starts to invest their asset in gold because of depreciation of US dollar currency and gold as an important stabilizing role for investment portfolios. based on their findings, they conclude that many factors determine the price of gold and several economic factors such as Commodity Research Bureau future index (CRB); USD/Euro Foreign Exchange Rate (EUROUSD); Inflation rate (INF); Money Supply (M1); New York Stock Exchange (NYSE); Standard and Poor 500 (SPX); Treasury Bill (T-BILL) and US Dollar index (USDX) were considered to have influence on the gold prices. 2.5 T-bill (short term interest Rate) T-Bill rate is a benchmarking for short-term interest rate and is deemed as risk free. As such, T-Bill rate is normally taken into consideration for financial valuation purpose and widely used by financial institutions and academics especially to determine the fair value of stock pricing. Chan et al. (1992) reaffirmed that the short-term riskless interest rate is one of the most fundamental and important prices determined in financial markets. In referred to Damodaran (2002) published textbook Investment Valuation: Tools and Techniques for Determining the Value of Any Asset, Choice of risk-free security the returns on both Treasury bill (t-bills) and treasury bonds (t-bonds), and the risk premium for stocks can be estimated relative to each other. This was based on the yield curve in the US that has been on upward-sloping for most of the past seven decades. The risk premium is larger when estimated relative to short-term government securities (such as Treasury bills). Damodaran (2002) also stated that the risk risk-free rate chosen in computing the premium has to be consistent with the risk-free rate used to compute expected returns. So, if the Treasury bill rate is taken into consideration as a risk-free rate, the premium has to be earned by stock over that rate. This applies to the Treasury bond rate as well and premium has to be estimated relative to that rate. He also mentioned that for the most part, in corporate fi nance and valuation, the risk-free rate will be a long-term default free (government) bond rate and not a Treasury bill rate. Thus, the risk premium used should be the premium earned by stocks over Treasury bonds. 2.6 FBM Kuala Lumpur Composite Index (KLCI) The FBM KLCI is taken as a proxy to represent the market growth optimal portfolio. This research paper attempt to construct and compare various total-return world stock indices based on daily data. The data was collected from DataStream Advance cover the period from 01 January 1973 to 31 August 2006. Due to the diversification, these indices are noticeably similar. This proposed method of constructing a proxy for the growth optimal portfolio has specific advantages over the methodologies of diversity weighting and market capitalization weighting. The diversified world stock index has applications to derivative pricing and investment management. Petttengill et al. (1995) developed a conditional relationship between return and beta that depends on whether the excess return on the market index is positive or negative. When the excess return on the market index is positive (negative), there should be a positive (negative) relationship between beta and return. Their empirical results support the conclusion that there is a positive and statistically significant relationship between beta and realized returns. Furthermore, consistent with Hodoshima et al. (2000), the results are similar when the test is done on 20 beta sorted portfolios. However, it seems that the negative relationships during down market are steeper in Tokyo Stock Exchanges (TSE), which seems to have contributed to have negative rewards for holding beta risk in the long run. Consistent with the findings of Pettengill et al. (1995) in the USA and Hodoshima et al. (2000) in the Tokyo Stock Exchange (TSE), the result found that there is a significantly positive relat ionship between portfolio beta and portfolio return during up markets and the relationship is significantly negative during down markets. Moreover, the test of individual stock return shows that this conditional relationship can even be seen in individual stock returns. That is, there is a significantly positive (negative) relationship between individual stock beta and individual stock return up (down) markets. However, the results of the study suggest that the beta-return relation, in the Tokyo Stock Exchange (TSE), seems to be negatively steeper during down markets, which seems to have contributed to have a negative reward for holding beta risk even in periods where the average market excess return is positive. Therefore, in conclusion, the results suggest that, though the slopes during down markets seem to be steeper than up markets, there seems to have a conditional relationship between beta and return, which justifies the continued use of beta as a measure of market risk. 2.7 Arbitrage Pricing Theory (APT) The Capital Asset Pricing Method (CAPM) is a single factor model it specific risk as a function of only one factor, the securitys beta coefficient. CAPM has been considered as one of the main tools to study for the risk-return trade-off assets. CAPM has been widely referred and used in academic research and business financial studies. As long as the return for any asset is interrelated to one variable with its market beta, or the systematic risk, it is defined as the covariance of an assets return and the market return. CAPM implies that expected returns and market beta exists, and only market beta that efficiently exanimate the time series and cross-sectional tests for asset returns. CAPM has its restrictions, assume investors are rational and based on several assumptions that were not practical in the real world. According to empirical studies by Fama and MacBeth (1973), there are several variables e.g. the market value of equity ratio (MVE), the earnings to stock price ratio (E/P), and the book-to-market equity ratio that having greater influence compare to market beta. Another study was carried out by Ross (1976) on the Arbitrage Pricing Theory (APT) which was considered a new modeling for CAPM. Ross refute through Arbitrage Pricing Theory (APT) that market beta is not the only variable to measure the systematic risk. There are multiple variables that have an effect on the stock returns beside market beta. The study tested on systematic, unconditional, and positive trade-off between average returns and beta. Perhaps the risk-return relationship is more complex, with a stocks required return a function more than one factor. For example, what if investors, because personal tax rate on capital gain are lower than those on dividends, value capital gains more highly than dividends. Then, if two stocks had the same market risk, the stock paying higher dividend would have the higher required rate of return. In that case, required returns would be a function of two factors, market risk and dividend policy. The Arbitrage Pricing Theory (APT) can include any number of risk factors. So the required rate of return could function of two, three, four or more factors. The Arbitrage Pricing Theory (APT) is based on complex mathematical and statistical theory that goes far beyond the scope for discussion in this paper. Even though the Arbitrage Pricing Theory (APT) model is widely discussed in academic literature, the practical usage to date has been limited. The concepts of Arbitrage Pricing Theory (APT) which assume that all stocks return depend on only three factors: Inflation, industrial productions, and the aggregate degree of risk aversion (the cost of bearing risk, it was assume that this will be reflected in the spread between the yields on Treasury and low-grade bonds). The primarily theoretical advantage of the Arbitrage Pricing Theory (APT) is that it permits several economic factors to influence individual stock returns, whereas the CAPM assumes that the effect of all factors, except those unique to the firm, can be captured in a single measure fewer assumptions than the CAPM and hence is more general. Efficient Market Hypothesis (EMH) The Efficient Market Hypothesis (EMH) was developed by Professor Eugene Fama. He said that an efficient capital market theory is one in which security prices adjust rapidly to the arrival of new information and, therefore, the current prices of securities should be reflected all information about the security. In simple terms, it means that no investor should be able to employ readily available information in order to predict stock price movements quickly enough so as to make a profit through trading shares. If markets are efficient, stock price will rapidly reflected all available information. There are different types of information available to incorporate into stock prices. Financial theorist have been developed the three form of market efficiency. There are three common forms in which the efficient-market hypothesis is commonly statedweak-form efficiency, semi-strong-form efficiency and strong-form efficiency, each of forms has different implications for how markets work. In weak-form efficiency, future prices cannot be predicted by analyzing prices from the past. The abnormal return cannot be earned in the long run by using investment strategies solely depend on historical data share prices. Moreover, technical analysis techniques will not be able to consistently produce an abnormal profit, though some forms of fundamental analysis may still provide excess returns. In semi-strong-form efficiency, it is implied that share prices adjust to publicly available new information very rapidly and in an unbiased fashion, such that no excess returns can be earned by trading on that information. Semi-strong-form efficiency implies that neither fundamental analysis nor technical analysis techniques will be able to reliably produce abnormal return. However, in strong-form efficiency, share prices reflect all information, public and private, and no one can earn excess returns. If there are legal barriers to private information becoming public, as with insider trading laws, strong-form efficiency is impossible, except in the case where the laws are universally ignored. CHAPTER 3 RESEARCH METHODOLOGY This chapter provides an outline of the research process designed to investigate the relationship between economic variables and Sub-sector price index. 3.1 The Data In this section, we will summarize our models data and present the methodology of our model. The daily data for interdependent and dependable variables e.g. FBM KLSE (Kuala Lumpur Composite Index), T-Bill band 4, Crude oil WTI (West Texas Intermediate) price, London Bullion Market (LBM) (U$ Troy Ounce) price, and Sub-sector Price Index are collected from the DataStream and cover from period 17/04/2000 to 18/04/2011. There are 2610 daily observations obtained from DataStream. The data set is given in the Appendix of this paper. In relation on this, dependable variable are consists of ten (10) majors price index e.g., Consumer Product, Plantation, Finance, Trading and Services, Industrial, Industrial Products, Construction, Mining, Properties, and Technology. As can be seen from figure 1, there is an increasing trend on global gold price and reached its the highest point, $ 1,492.06, on 18th April, 2011. The gold price was tending to increased since year October, 2008. We believe this trend will continues increasing due to strong demand and short supply gold in the commodities market. Moreover, some expertise research firms like GFMS, a leading global precious metals consultancy, released its 2011 Gold Survey and GFMS expects that gold will reach $1,600 by the end of 2011. Another independent variable, Crude oil WTI (West Texas Intermediate) price known as Texas light sweet, is a type of crude oil used as a benchmark in oil pricing. As refer to figure 2, the oil price increase significantly during year 2007 and the reasons behind can be explained by the Asian growing demand on oil to sustain their economy growth. The past researchers also been reported, that oil consumption in India was increased approximately 8.7% according 1998 and 6.5% according to 2006. Mehmet Eryigit (2009) has studied and found that in year 2007, USA has been consumed the 23.9% of the total oil, however total share of the world oil consumption for China, India and Turkey in 2009 is only accounted 13.4% (China consumed 9.3%, India consumed 3.3%, and Turkey consumed 0.8%). Meanwhile, back to middle of year 2008 Sub-prime crisis was happened in U.S financial system and the crude oil price has reached to a minimum price $31, that is a minimum last trader price was reported since year 2004. After decreasing trend along the year 2008, early of 2009 crude oil price are at the recovery stages and maintained a reasonable price between $ 65 -$ 100 per barrels. We expect the crude oil price bullish will continue increasing. The next independent variable is Market returns FBM Kuala Lumpur Composite Index (KLCI). The Kuala Lumpur Composite Index (KLCI) is used as a proxy for the performance of the Kuala Lumpur Stock Exchange and comprises the largest 30 companies listed on the Main Board by full market capitalization. The last independent variable is T-Bill band 4. T-Bill band 4 is type of money market instrument. The Malaysian Treasury Bills (MTB) issued by the Central Bank of Malaysia Are tradable on yield basis (discounted rate) based on bands of remaining tenure (e.g., Band 4 = 68 to 91 days to maturity). This instrument are represents the short-term interest rate in the Malaysia money market. The high or low interest rate will make bonds look more attractive than stock and consequently impact the stock price return. Figure 1: London Bullion Market (LBM) (U$ Troy Ounce) Price Figure 2: Crude Oil WTI (West Texas Intermediate) Price 3.2 Conceptual Framework 1. Crude Oil WTI 2. London Bullion Market (LBM) (U$Troy Ounces) 3. KLSE (Kuala Lumpur Composite Index) 4. T-Bill Band 4 Sub Sector Price Index Consumer Product, Plantation, Finance Trading and Services, Industrial, Industrial Products, Construction, Mining, Properties, and Technology.The conceptual framework of this study was derived from literature review where proven macroeconomic variables like FBM Kuala Lumpur Composite Index (KLCI) are used as independent variables. The Crude oil WTI (West Texas Intermediate) future contract price, London Bullion Market (LBM) (U$ Troy Ounce) price, and T-bill band 4 had been widely used in evaluating a significant statistical rel