How To Stay Safe Around Your University Campus This Autumn/Winter

University can be the best part of your life. Letting certain things spoil that due to carelessness or a lack of responsibility can seriously damage your time in higher education. As the days get shorter and the nights darker, here at Essay Writing Service we know just how crucial staying safe and looking after yourself around campus is. Always walk in open spaces at night Be aware of your surroundings no matter what the situation and avoid walking in unfamiliar places at night. Open spaces which are likely to have more people around tend to be safer; if something happens someone is likely to see and come to help. Avoid walking through unlit public areas You may always have a route into campus through a park or wooded area but this should be off limits at night. Many wooded areas tend to be poorly lit and provide coverage for any incidences that might occur. Plan a route that will take you through a thoroughly lit area. Try to walk home in a group It can be easy to lose your friends when you are on a night out but having an action plan to stick together is a must. If someone tries to leave the group, make sure they don't go alone. People that move in groups are less likely to be the victims of any offense compared to those that are alone. Stay in touch with friends/family If you are in a situation where you are on your own, whether you have left or lost your group of friends, or are travelling back from somewhere at night, stay in touch with people. A quick message to a friend or family member to tell them you are safe goes a long way. Don't cause any unnecessary worry. Make phone-calls if necessary to help you feel more comfortable and safe when alone. Keep an eye on your locks Student areas are particularly prone to burglaries or crime so be vigilant with your locks. Always keep windows and doors locked when you leave the house, if you are home alone, and at night. If there are any problems with your locks report them immediately to your landlord to get them fixed straight away. Many landlords present keys with a label of your house number attached; it is a good idea to remove this in case you lose your keys. Place your belongings out of sight Leaving electrical or expensive equipment on show when you are not around the house is a temptation to the opportunist. As well as keeping windows and doors locked, consider putting your things out of plain sight. Insurance is a good thing to have at university because things can break or go missing all the time; Endsleigh offers tailored student insurance packages to suit your needs. (via NHS) Know your limits and be alcohol wise Going out with your friends and socialising is a big part of the university lifestyle. Being careless though can ruin an entire night and can often have very dangerous consequences. When you're at a bar, club or pub always keep an eye on your drink and refuse drinks from strangers. With the NHS announcing that every year hundreds of people are thought to be the victims of drinks spiking, as well as the increase in date rape drugs and rape cases, it is vital that you always keep an eye on your drink. Know your limits too and don't be pressurised into drinking something you don't want to. Have fun but stay safe. Don't invite strangers back Meeting someone when you are out, particularly under the influence of alcohol, can give you only a limited knowledge of that person. As trusting as they may seem, many people will take advantage of vulnerability. Whether you feel comfortable with them or not, don't invite a stranger back to your house. If you are interested in seeing that person again, arrange to meet somewhere public. Save emergency or late night numbers Have the numbers for your local services, safety watches or wardens saved in your phone. Trying to fumble around for a number that isn't there is the last thing you want. Know the late night services and schedules of your public transport options; if you are travelling alone on public transport don't sit in an empty carriage. Keep late night taxi numbers to hand too; never get into an unlicensed taxi though and always check that it is the correct vehicle before you enter. Make sure your hands are free If you are obstructed by an armful of books or other possessions you are an easy target. Have your hands free when you are walking or travelling alone at night. Many universities or self-defence programmes would advise carrying your keys in one hand just in case you need to defend yourself. Making a phone-call to feel safer is a good option but be aware of what is going on around you whilst you are on your mobile, and keep your other hand free. Listening to music or using a headset isn't recommended either as you are less likely to hear someone coming towards you. Above all here at Essay Writing Services we want you to get the most out of university. Make your university time memorable but in all the rights ways by following our guidance and taking particular care when you are out at night. For more tips and help on how to survive your first term at university, head to our blog. Our professional experts can help with any areas of academia from proofreading or advising on essays, to assisting with dissertations. Don't hesitate to contact us today.

Cuban Cinema essays

Cuban Cinema essays The film industry changed dramatically after the revolution. Before Batistas dictatorship was overthrown, Cuban cinema faced many difficulties. The United States had a very strong influence on the films being made, as many of the movies were actually filmed in the in the U.S.. Many Cubans found the movies being made as another countrys perspective of Cuba, and came to resent the false portrayals. The U.S. and Mexico mostly controlled everything from production to distribution of the films. Despite this, movies were still extremely popular for the Cubans that had access to them. However, those who live in rural areas did not have the option of seeing movies. The true boom for Cuban film occurred when the revolution was over and Castro had overthrown the Batista dictatorship. Three months after this occurred, the Cuban Institute of Cinematographic Art and Industry, also known as the ICAIC, was founded. This institute was vital for the movie industry in Cuba. Cas! tro was a huge proponent of the television and film industry made sure that is would be well established in his country. He felt it was an essential tool for revolution, which was most of the films made at that time would focus on. In 1968, the film called The Underdevelopment of Cuba, was directed by Tomas Gutierrez Alea, who was also one of the leaders of the ICAIC. This film was considered the greatest films of all time. This movie was actually a documentary and paved the way for films of this type to become the most popular genre in Cuba. There are so many types of documentaries in Cuban film, that they could be divided into one of five categories: historical, cultural, domestic politics, international relations, and didactic. Within these categories, there are two themes that are prominent, being history and underdevelopment. Something else that stands out when referring to Cuban cinema is the fact that, b ...

Humanitarian Aid Produces Instability and Violence for the Waves of Research Paper

Humanitarian Aid Produces Instability and Violence for the Waves of Refugees Living In Sudan - Research Paper Example This paper is informative enough and should be used by other NGOs and support agencies to ensure that the services they advance in the banner of humanitarian grounds do not facilitate and aggravate the existing or rather ended violence in their areas of target. For close to thirty years, Sudan, a country in Africa, has faced several internal conflicts in which the Southern and the Northerners have been engaged in the series of fights because of fundamental differences. Sudan has experienced political instability for all the years, and in the recent past the southern part of the country seceded and is now a democratic republic. Even though it got its independence following the successful secession, it should be noted that there has not been peace yet in the country, and certain economic issues like oil fields, specifically situated in Abieyi, still make the country’s tension palpable (Whitman, 1999). Because of the long period of war, the country has experienced extreme interna l conflicts, and this has made the population move to other countries to seek refuge. Some of the countries that have experienced the influx of the Sudanese following the constant state of war in the country are Kenya, Egypt, Uganda, Ethiopia, Chad, Eritrea, the Democratic Republic of Congo, and so on. Of course, many are also displaced within the country and are referred to as the internal displace persons. This research paper particularly looks at those who are displaced within the country. It should be mentioned that the population that is displaced within the country is more than those in various individual countries; the population of the internally displaced people stands at 4,644,800. It must be understood that the climatic condition of Sudan is arid. The fact that the country is an arid land coupled with the successive violence in the area has made the lives of the people very difficult. This has made very many humanitarian sympathizers build camps in the area to provide the necessary basics to the otherwise suffering population. Humanitarian aids have been synonymous with areas that have undergone political turbulence in the entire world, and this is not new to Sudan. At the face-value look, it is always construed that the humanitarian aids provision is targeted at extending a helpful hand to the suffering population and attempts to bring relative peace in the area; this can be a misconception, according to the research. In fact, the humanitarian aids form the basis of new wave of violence and war in the area. This research paper explains how the humanitarian aids are responsible for the rounds of new waves of war instead of the primary role of providing humanitarian help during crisis time (Whitman, 1999). Objective of the Study For this research paper about the humanitarian provision in Sudan and the subsequent increment of violence and war related cases, the study was designed to unravel the following: I. To understand the context in which the refu gees in the country come to be; whether it is politically motivated or otherwise; II. To understand the role of the humanitarian aid providers in Sudan as far as logistical and basic need support to the refugees is concerned; III. To establish whether there is a demilitarization program for

COMMUNICATING RISK-POST KATRINA BY PETE CALI Assignment

COMMUNICATING RISK-POST KATRINA BY PETE CALI - Assignment Example The 1978 map below shows the impact of the growth population on the sypress swamp areas are more land was reclaimed to pave way for resettlement implying that the city was barely protected from any hurricane flooding. The encroachment and growth of the population behind the hurricane protection system indicates the level of confidence the people had in the engineering projects to protect them from floods. The Katrina had devastating effects in the city of New Orleans. Firstly, ninety-five percent of homes in New Orleans East were flooded while 10,000 homes in the Greater New Orleans area were destroyed. Secondly, the Katrina destroyed vital infrastructure such as roads, sewerage, gas and water pumping stations, hospitals and public transportation. Thirdly, the Katrina destroyed approximately 160 miles of flood protection levees and floodwalls at the London Avenue Canal, the Inner Harbor Navigation Canal and the 17th Street Canal. According to Pete Cali, the Katrina caused 50 breaches in the hurricane protection system. Forty-six of these breaches were caused by overtopping that caused excessive scour at the floodwall base or levee toe and four were caused by floodwall failures due to water loads within the design conditions. Cali argues that these failures were imbedded in three engineering mistakes namely: insufficient levee height, the use of substandard soil in the construction of the levee and inadequate definition of possible failure mechanisms. Despite the devastating impact of the Katrina on the city of New Orleans, it is imperative to note that the heart of the City, especially the French Quarter, the Garden District and the Saint Charles Avenue were spared from severe damage. However, the damage can still be felt in the Ninth Ward and the New Orleans East whose water supply and sewerage system is yet to be repaired and the housing facilities are barely enough to accommodate half the pre-Katrina population. Due to the limitations in the tax revenue,

Understanding Cultural Differences in Successful Global Businesses Essay

Understanding Cultural Differences in Successful Global Businesses - Essay Example Understanding Cultural Differences in Successful Global Businesses This paper shall discuss the thesis that understanding cultural differences is fundamental to success in global business. This paper shall first discuss the common differences apparent in various corporations and businesses. Secondly, it shall then review how corporations are dealing with these differences. Thirdly, a deeper understanding of cultural differences and how they impact on successful global businesses will be presented. Lastly, this essay will provide a summary and conclusion of the discussion. This article is being carried out in order to establish a clear and deeper understanding of globalization as well as the impact of cultural differences in relation to this phenomenon. Body In the current business context, cultural differences have a significant impact on the way businesses are carried out. Culture refers to shared values which impact on perceptions, attitudes, as well as responses. These qualities are very much apparent in the workplace and marketplace. Language is one of the main elements of culture and although English is considered the universal language, not all states speak it. Despite the universality of English however, corporations have sought to expand their language functionality, noting the marked increase in the number of languages being used in the business world, including Chinese, Spanish, and Japanese. For most international companies, most of them have understood that in order to be globally competent, they need to establish at least two versions of their websites. Japanese companies, for example, have adopted two versions of their websites – one in their native language and another one in English (Scholtens and Dam, 2007). Through these adjustments, these companies have managed to be accessible to their country and to the international community. Hofstede (1980) discusses how other elements of culture also impact on the effective globalisation of businesses. These elements include: power distance, uncertainty avoidance, individualism, masculinity, and long-term orientation. Power distance refers to the extent by which the less powerful m embers of society accept power (Hofstede, 1980). Cultures of Japan, Asian, and other Latin countries have high power distance relationships, however, this is low for the Nordic, Anglo, and German cultures (Robbins and Stylianou, 2008). Uncertainty avoidance is seen based on how people adjust to uncertainties, with some cultures having weak uncertainty avoidance and others having strong uncertainty avoidance. The Anglo and Nordic areas are known to have weak uncertainty avoidance, and the Latin, German, Asian, and Japan cultures have strong uncertainty avoidance (Robbins and Stylianou, 2008). As for individualism and collectivism, those which are individualistic are usually those who stick to rights of privacy and individual freedom; for those with collectivist cultures, their press is often controlled by the state and private lives are within public realms of interest (Robbins and Stylianou, 2008). Anglo, Nordic, Latin, and German cultures portray individualist qualities, while Asia n cultures have collectivist cultures. In relation to gender divisions, the masculine-dominated cultures are those which have aggressive and assertive males and have strong material success goals; on the other hand, feminine cultures tend to focus on preservation, conservation, and sympathy for the weak (Robbins and Styl

Louis Philippe Sub Brands Marketing Essay

Louis Philippe Sub Brands Marketing Essay Louis Philippe was launched in India in 1989. Celebrating the sophistication of the Indian gentleman, Louis Philippe garments establish that their wearer is a man of infallible taste and class. The brands Franco-Italian lineage, combined with its focus on global fashion gives it indisputable premium and an exclusive image. Today, Louis Philippe is a brand leader in formal and quasi-formal wear. The embellished Crest is a sign that the wearer of a Louis Philippe wardrobe has truly arrived. Today, the Crest is prized even more for its focus on luxury, exquisite craftsmanship and attention to detail, establishing that its wearer is truly a member of The Upper Crest. The comfort and perfection of the clothing is also evident in their line of elegant shoes, crafted from the finest leather, and their range of innerwear, sourced from the softest cotton. Louis Philippe garments are available at 125 stores, and at the exclusive LP stores created by famous European architect John Marsala. The brand continues to be the leader in retail sales in all leading menswear and department stores. The retail experience is further augmented by Madura Fashion Lifestyles retail chain Planet Fashion. Louis Philippe also launched sub-brands including LP and Luxure. LP by Louis Philippe has an exciting range of shirts, trousers, T-shirts, suits, jackets and accessories to put together a youthful wardrobe. Luxure, the masterpiece collection, was created to deliver sartorial elegance for the refined connoisseur. Louis Philippe recently made a foray into the footwear segment, offering more than 40 exciting designs, in an unparalleled width in the formals market. Louis Philippe sub brands LP by Louis Philippe http://www.madurafnl.com/brands/images/lp_image.jpg Louis Philippe expanded its offering with the launch of a sub-brand in November 2007. LP by Louis Philippe is aimed at young achievers and upscale urbanites, who demand wardrobe versatility. It ascertains the style mantra for todays generation.   Formals finally get what they have always deserved: style, attitude and panache. The new age formals with hidden styling detail in every single garment: a coloured gusset on the side seam, an innovative trim, or a unique fabric wash. Half the battle is already won with the all-occasion LP wardrobe. Priding itself on being the trendsetter for the cool, stylishly spirited confident youngster who lives today with a confident eye on tomorrow, LP is the brand for those who are in a hurry to make a mark in this world, but will not compromise on either their values or on fun, en route.   The LP line has an exciting range of shirts, trousers, T-shirts, suits, jackets and accessories to put together a youthful wardrobe. Crafted with love and passion, and a fine eye for detail, the collection has been designed by ThincTank New York, a group of ace designers from New York, and the Design laboratory at Bangalore. With two trendy fits in shirts and denims, four styles in trousers and three in suits and jackets, the LP range provides ample options for customising a wardrobe to individual preferences.   Luxure Inspired by Louis Philippe, a monarch of another age, and Art Nouveau, an artistic movement of an era gone by, brand Louis Philippe was born in the United Kingdom in 1965.   A lyrical ode to the tailor, artist, craftsman, all rolled into one, Louis Philippe celebrates the craft of the artisan in true Art Nouveau style. Louis Philippe test-launched the Luxure brand in select stores across India in November 2008. Created to deliver sartorial elegance for the refined connoisseur, the masterpiece collection strengthens brand Louis Philippes promise to deliver excellence to customers who have an appreciation of the finer things in life. With Luxure, consumers have access to exquisite apparel, consummate craftsmanship, luxurious materials and delicate aesthetics, all core to the values and heritage of Louis Philippe. Louis Philippe footwear http://www.madurafnl.com/brands/images/luxure_shoe.jpg Louis Philippe recently made a foray into the footwear segment, offering more than 40 exciting designs, in an unparalleled width in the formals market. The footwear range includes the Classic, the Dress and the Relaxed product lines for style-conscious, comfort-seeking customers. Louis Philippe shoes have been manufactured with the latest know-how of the Italians, who are known for their fine craftsmanship. Louis Philippe shoes undergo 200 different processes of production excellence in order to craft every single masterpiece. Pure leather has been used for both the outer body and the inner lining. The soles are soft and light; some of them constructed with the lightest wood, Masonite. Leather boards have been introduced in the front and back of the shoe to help retain its elegant shape for a long time. Twin material leather sole helps it to breathe and thereby retain freshness for the feet at all times. In order to provide longevity, technical sole construction is introduced in the shoes. TALKIN ABOUT BRAND BUILDING ACTIVITIES Teeing off Indias richest domestic golf tournament   Louis Philippe is a premium brand synonymous with sophistication, style and success, qualities that are essentially associated with golf as well. And in a perfect match between the Madura Fashion Lifestyle brand and the prestigious sport, Louis Philippe has come to be associated with Indias richest domestic golf tournament, the Louis Philippe Cup, held at the KSA Golf Course, Bangalore, between March 5- 10, 2012.   According to Jacob John, Brand Head, Louis Philippe, fan involvement is a key element of the Louis Philippe Cup. We want to build a platform where true golf fans have a chance to play alongside pros, he adds. Pointing out that the values and qualities of Louis Philippe blend with those of golf, he feels this association with the premier sport is a perfect match, and will help the brand to move up to the next rung in the ladder. The Louis Philippe Cup is creating a buzz in Indias 100,000-strong golf community, which is growing phenomenally. The event promised to tee-off greater interest in the sport, raising its profile across India. Louis Philippe presents DIMENSIONS with Vijay Amritraj Louis Philippe, the premium mens clothing brand, in association with CNN-IBN brings you Dimensions with Vijay Amritraj, a first-of-its-kind show in the history of Indian television. This special series presented by Louis Philippe, will be anchored by the legendary tennis player Vijay Amritraj and will feature the brightest global icons that have mesmerised people across the globe with their magic; from sporting legends and business tycoons to supermodels and Hollywood A-listers. http://www.madurafnl.com/images/dimension_vijay_donald.jpg BUSINESS POTENTIAL AND ENVIRONMENT FACTOR ASSESSMENT A Shirt A Louis Philippe Shirt Functional Emotional/Functional Concrete, Rational Conceptual, Perceived Describes What Describes What Who Generic Unique, Distinct Limited life span Unlimited life span Transaction oriented Relationship oriented Easy to copy Cant be copied Luxury Brand Management Protect clients from non-clients. Luxury brand awareness must be superior to its penetration. An object must always be up to par with its brand. Brand Strategy Source Brand Strategy Endorsing Brand Stategy Analysts said the new sub-brands which were launched as a result of the brand getting extended both to new segments as well as to other product classes like footwear would contribute too much of the projected future growth. Despite the phenomenal growth in the sales, the Louis Philippe brand had been facing some problems. The raw material costs associated with apparel making had increased due to the high rates of inflation which the Indian economy had been facing for some years before 2011. Rupee Depreciation Blues Louis Philippe has stepped up local sourcing and reduced imports to protect it from the rupees vagaries. It imports specialty fabrics, trims, finishing and woven garments from China, Indonesia, Italy and Turkey. Imports account for 25 per cent of its fabric needs. This used to be 35 per cent till a few months ago. With the rupee depreciation, imports have become costlier. We have increased domestic sourcing to reduce dependence on imports. If the rupee behaviour continues, we will reduce imports further, says Jacob John, Brand Head. Specialty fabrics The brand has traditionally sourced from mills in Ahmedabad and Chandigarh. Apart from deepening existing ties, Louis Philippe has now found new suppliers in Kolhapur. Many Italian mills have set up units in Kolhapur, says John. But imports cannot be shunned, given that certain specialty fabrics are hard to find in the country. They need a good balance of local and imported fabrics. We are negotiating with suppliers abroad on the price front. While the rupee depreciation has not affected most apparel brands in the country, as they mainly source locally, premium brands which have a high import content face a margin squeeze. The weak rupee forced Louis Philippe to hike retail prices by Rs 100-200 in July, which marked the start of the autumn-winter season. Price hikes Earlier, Louis Philippe shirts were priced between Rs 1,299 and Rs 3,000. Now, the price range is Rs 1,399-Rs 3,500. With the end-of-season sales hogging the limelight in July-August, the real impact of the price hike will be felt this month onwards. There is an overall sluggishness in the market. Hopefully, the festive season will perk things up. We will continue to expand our retail network aggressively. Says Brand Head. In the last one year alone, Louis Philippe added 50 exclusive stores to take its total tally to 135. Louis Philippe expects to grow 15 per cent and touch a retail turnover of Rs 1,000 crore this year. OVERVIEW These new super premium ranges of branded apparel were priced 100 percent higher than the other existing premium brands in the market. The Louis Philippe brand was also extended to cater to the needs of different customer segments. Louis Philippe entered the luxury market for mens formals with the introduction of the Luxure sub brand. Luxure was very successful and contributed to nearly 15 percent of the total revenues in the stores in which it was introduced. Louis Philippe introduced another sub brand called LP for semi-formal clothing for young customers. It also introduced premium footwear for men in the year 2010. The introduction of new sub brands paid off and the sales of Louis Philippe reached Rs. 6.5 billion for the fiscal year ending March. 2011. But Louis Philippe was also facing some challenges in the form of new players entering the market and an increase in excise duties which increased the price of branded apparel. The question to be asked is whether Louis Philippe wil l be able to sustain its growth momentum in future and what the implications are for marketing. The market for branded readymade mens wear was very limited in India till the early 1980s. The growth rates were also very low. One of the main reasons for this was that Indian men were accustomed to buying cloth and getting it stitched as per their custom body measurements. This practice hindered the emergence of national level brands in the apparel business. The market began to change by the mid-1980s and a small market for branded apparel started to emerge. One of the first entrants into this sector was Madura Coats India; a 51 percent subsidiary of the UK-based JP coats. It entered the ready to wear garments business in India through three divisions: Madura Garments (ready to wear clothing), Coats India (threads division), and Madura Textiles (fabric supplier). Madura Garments was acquired by ABG in the year 2000 and later renamed as Madura Fashion and Lifestyle (Madura FL) The Louis Philippe brand was extended into the footwear segment in April 2010. The entry into the footwear sector was aimed at giving more choice in style and needs to Indian customers in the matter of their footwear. The lack of choice in the Indian footwear market had led to many Indians shopping abroad for their footwear needs. Initially, mens shoes were launched in the formal wear sector with 40 unique designs to choose from. Just like its apparel business, the new footwear was launched in the premium and super-premium segments Continuing its growth momentum, sales of the Louis Philippe brand were expected to reach Rs. 8.50 billion by the fiscal year 2011- 2012.

Ukraine: Facts :: essays research papers

Ukraine: Facts Ukraine is a state in Eastern Europe, bounded on the north by Belarus, on the north and east by the Russian Federation, on the west by Poland, Slovakia, on the southwest by Hungary, Rumania, and Moldova, and on the south by the Black Sea and the Sea of Azov. Ukraine includes the Crimean Autonomous Republic, which was elevated from an oblast to a constituent republic in 1991. Kyiv is the capital and largest city. Ukraine is the second largest country in Europe after Russia. The total area of Ukraine is 603,700 sq. km (compare the area of France - 551,000 sq. km; Germany - 356,000; Great Britain - 244,000; Italy - 301,000; Spain - 505,000). The area spanned in a west-east direction is 1300 km; from north to south - 900 km. The population of Ukraine is 52 million (Germany - 78 million; France - 56 million; Great Britain - 58 million; Italy - 59 million; Spain - 40 million). Ukraine's state border extends for a total of 7698 km: with Russia - 2484 km; Belarus - 952 km; Rumania - 608 km; Poland - 542 km; Slovakia - 98 km; Hungary - 135 km; Moldova - 1194 km. The total length of Ukraine's sea coast is 1758 km (Black Sea - 1533 km; Sea of Azov - 225 km). The climate of Ukraine is moderate-continental; in the southernmost region of the Crimea the climate is sub-tropical. The largest river of Ukraine is the Dnipro, which is 2201 km in length, of which 981 km flow through Ukraine. The largest mountain system in Ukraine is the Carpathian Mountains that extend for more than 270 km and are 100-110 km wide. The highest peak is the Hoverla (2061 m). Government Names: conventional long form: none conventional short form: Ukraine local long form: none local short form: Ukrayina former: Ukrainian Soviet Socialist Republic Digraph: UP Type: republic Capital: Kiev (Kyyiv) Administrative divisions: 24 oblasti (singular - oblast'), 1 autonomous republic* (avtomnaya respublika), and 2 municipalites (mista, singular - misto) with oblast status**; Cherkas'ka (Cherkasy), Chernihivs'ka (Chernihiv), Chernivets'ka (Chernivtsi), Dnipropetrovs'ka (Dnipropetrovs'k), Donets'ka (Donets'k), Ivano-Frankivs'ka (Ivano-Frankivs'k), Kharkivs'ka (Kharkiv), Khersons'ka (Kherson), Khmel'nyts'ka (Khmel'nyts'kyy), Kirovohrads'ka (Kirovohrad), Kyyiv**, Kyyivs'ka (Kiev), Luhans'ka (Luhans'k), L'vivs'ka (L'viv), Mykolayivs'ka (Mykolayiv), Odes'ka (Odesa), Poltavs'ka (Poltava), Respublika Krym* (Simferopol'), Rivnens'ka (Rivne), Sevastopol'**, Sums'ka (Sevastopol'), Ternopil's'ka (Ternopil'), Vinnyts'ka (Vinnytsya), Volyns'ka (Luts'k), Zakarpats'ka (Uzhhorod), Zaporiz'ka (Zaporizhzhya), Zhytomyrs'ka (Zhytomyr) note: names in parentheses are administrative centers when name differs from oblast' name Independence: 1 December 1991 (from Soviet Union) National holiday: Independence Day, 24 August (1991) Constitution: using 1978 pre-independence constitution; new constitution currently being drafted Legal system: based on civil law system; no judicial review of legislative acts Suffrage: 18 years of age; universal

Self development and attaining my SMART goals

I have a dream. I see myself as the main HR strategian of a universe renowned media company or a top HRD consultancy. Sound academic apprehension of HR is a precedence developmental demand, as highlighted in â€Å" 11 Qualities of Effective Directors † Pedler et Al. ( 2006 ) . I am from Pakistan and am remaining in the UK for my married woman ‘s PhD. Using this as an chance I have enrolled on the MSc. HRD & A ; Consultancy class. Different larning manner appraisals helped border my apprehension of myself as a learner/manager. My learning manner is Tactile/Kinaesthetic harmonizing to Jester ( 2000 ) . I view my calling as an chance to accomplish meaningful aims in a larger context. Here Schein ‘s ( 2006 ) appraisal sees strength: SV/Dedicated to Cause. I qualify as Directive on the Rowe ( 1987 ) Inventory and on Belbin ‘s ( 1981 ) I am an Implementer, Team-worker and Monitor/Evaluator. A Reflector on Honey Mumford ( 1986 ) appraisal, my personality type/signat ure on Personal Style Inventory Hogan and Champagne ( 1980 ) is ESTJ ( Extrovert, Sensing, Thinker, Judger – Stabilizer ) , whereas I am the Confronting Owl on the Conflict Questionnaire Thomas & A ; Kilmann ( 2007, 1974 ) . An illustration linking and specifying most of the above findings may be that I want to do a difference by inventing and implementing HR schemes which have a lasting impact on employee well-being [ dedication to do ] . With aims like this, I like to be at the helm of personal businesss, preferring full liberty and control over the state of affairs [ directing ] . This brings independency to form and travel things at the needed yet desired gait and affords me clip to believe things through, listen to everybody before make up one's minding and carefully see results before reasoning [ reflector ] . I love to be involved in community activities. Persevering, realistic, practical, loyal, steadfast, logical, are keywords for depicting me [ ESTJ ] . However, my calling programs are under menace as I face redundancy at work. My married woman is anticipating a babe so I may hold to either postpone the grade or axial rotation back wholly due to pecuniary solvency issues. This write-up critically reviews consequences of assorted larning manners appraisals and derives a Personal Development Plan holding with the averment that persons are responsible for their calling development and non merely organisations CIPD ( 2010, 2003 ) . It suggests possible ways for self-development and achieving my Smart ends. Guidance is provided on get the better ofing failings to understate and forestall current and future menaces. I can non and make non govern out the possibility of this being revised as my calling evolves in future ( possibly 5-10 old ages ) .Career history, Life state of affairss, Overall intent of planIntroductionI started my calling as HR/Admin Officer working for an NGO after finishing M.A. in English from Pakistan. The experience proved to b e the diving deck to the field of HR. After 4 old ages in the function, I joined as Senior HR Officer at GEO TV Network, one of Pakistan ‘s prima intelligence channels. A twelvemonth subsequently I moved to London when my married woman was awarded a scholarship for PhD. At present, I am free-lancing at one of UK ‘s taking messenger companies as Training Support Co-ordinator. My married woman is anticipating a babe and I may confront redundancy. My grade in English was my male parent ‘s pick and since the really start of my calling in HR, I felt the demand of complementary formal instruction. Thus, I had two aims: foremost, geting a sound understanding on academic degree ; 2nd, heightening professional competency, personal/self development. Bing in London has helped as I have enrolled for a specialist grade in HR. Developing a personal development program is an exercising in forming oneself, placing development demands, and puting precedences. The really first positive consequence of this exercising I noticed was that I learned how non to prioritize and discovered that I could ever utilize the PDP as a tool/meter to maintain a cheque on personal development. I can see that the PDP will function as my usher towards developing a ‘resilient sense of personal efficaciousness ‘ ( Bandura, 1994: 72 ) .Self-description & A ; AnalysisI want to go on my calling in HR. Miles and Snow ( 1996: 97 ) following Arthur et Al. ( 1989 ) see calling as â€Å" the germinating sequence of a individual ‘s work experiences over clip. † At present I am working as Training Support Co-ordinator at a company ‘s Technical section. However, I am looking to exchange back to HR every bit shortly as I get a HR related occupation. Given that I was Senior HR Officer before traveling to London, in my new occupation i.e. in the UK, I expect to be at least on the same place if non an associate director or director. If, nevertheless, I have to travel back to Pakistan, I will fall in my parent organisation GEO TV Network and continue with my programs. Between the following 5-10 old ages I plan to concentrate on developing expertness in strategic decision-making and policy preparation. I aim to work my manner to accomplishing a top place e.g. Director HR in a prima company like Reuters. It is the sense of fulfillment and effectivity that I am seeking. Effective callings net income persons, organisations, and society, notes Wilensky ( 1961 ; cited in Miles and Snow, 1996 ) . Earning sufficient expertness while traveling step-wise up the calling ladder, I will guarantee that I have sound apprehension of and experience in functions like ‘partner in scheme executing, administrative expert, employee title-holder, and alteration agent ‘ Ulrich ( 1998 ) .Learning/Development Needs AnalysisIdentifying larning manner is polar to developing a PDP. Learning Manners can be identified by taking learning manners appraisals which highlight learning/development demands, placing nucleus competences and strengths and observing spreads. Table 1 on the following page shows consequences from assorted appraisals. Learning Style, Keefe ( 1979:2 ) is a â€Å" complex of characteristic cognitive, affectional, and physiological factors that serve as comparatively stable indexs of how a scholar perceives, interacts with, and responds to the acquisition environment. † While with Stewart and Felicetti ( 1992:1 ) acquisition manners are â€Å" educational conditions under which a pupil is most likely to larn. † Therefore, larning manner is non about â€Å" what † is learned, instead â€Å" how † it is learned.Table 1: Learning/Development Needs AnalysisThere is greater consistence in the concluding consequences of the analysis than in-consistency. Sound academic apprehension of HR is a precedence developmental demand, as highlighted in â€Å" 11 Qualities of Effective Directors † Pedler et Al. ( 2006 ) . In consonant rhyme with my purpose of heading the HR section of a celebrated company, this questionnaire assesses most of the qualities likely to be needed to accomplish my purpose. As the rubric suggests, the questionnaire seems designed for on-job professionals.11 Qualities of Effective DirectorsCommand of basic facts Relevant professional cognition Continuing sensitiveness to events Analytical, job resolution, decision/ judgement-making accomplishments Social accomplishments and abilities Emotional opposition Pro-activity Creativity Mental legerity Balanced larning wonts and accomplishments Self cognition Pedler et. Al ( 2006 )Table 2: 11 Qualities of Effective DirectorsWhile taking the Honey and Mumford ( 1992 ) assessment a notable point was that even after I took the appraisal twice, with a spread of about two hebdomads I scored the highest for being a Reflector, considered to be more thought and less practical. Honey and Mumford ( 1986 ) proposed the Learning Styles Questionnaire ( LSQ ) claiming it to be more meaningful than Kolb ‘s ( Swailes and Senior 1999 ) . However, this theoretical account owes its origin to Kolb ( 1984: 41 ) , â€Å" acquisition is the procedure whereby cognition is created through the transmutation of experience. Knowledge consequences from the combination of hold oning experience and transforming it. † Kolb ‘s ( 1988 ) posit is based on the construct of experiential larning with the acquisition procedure affecting four distinguishable larning abilities/styles, based on a four-stage acquisition rhythm. Kolb devised his Learning Styles Inventory ( LSI ) to mensurate an person ‘s comparative penchant for the four acquisition manners ( Swailes and Senior 1999 ; Kolb, Rubin and Osland 1995 ) .Fig. 2, Honey & A ; Mumford Learning StyleBeginning: hypertext transfer protocol: //www.nwlink.com/~donclark/hrd/styles/honey_mumford.htmlHoney & A ; Mumford utilize different nomenclatureMilitant for Concrete Experience Reflector for Brooding Observation Theorist for Abstract Conceptualization Pragmatist for Active ExperimentationFig. 1: Kolb ‘s Learning StyleBeginning: hypertext transfer protocol: //www.nwlink.com/~donclark/hrd/styles/kolb.htmlKolb ‘s Learning ProcedureLearning from: CE – Concrete Experience RO – Brooding Observation AO – Abstract Conceptualization AE – Active Experiment The consequence on the LSQ i.e. Reflector is in crisp contrast to the diagnosing on the Personal Style Inventory, Hogan and Champagne ( 1980 ) where my personality signature is ESTJ ( Extrovert, Senser, Thinker, Judger ) – the Stabiliser. The Personal Style Inventory, Hogan and Champagne ( 1980 ) works with four braces of personality dimensions: Introversion/Extraversion ; Intuition/Sensing ; Feeling/Thinking and Perceiving/Judging. These concepts are based on the original work of Carl Jung ( 1921 ) and are a discrepancy of Myers-Briggs Type Indicator ( in Myers and Mc Caulley, 1985 ) . Learners/managers with ESTJ personalities are thought to be more practical than believing unlike reflectors. However, there is a run of similarity every bit good. The Thinker in ESTJ is analytical, so is a Reflector Honey and Mumford ( 1992 ) idea of as. The Senser in ESTJ plants with ‘tedious item ‘ Hogan and Champagne ( 1980 ) so does the Reflector take every item into history before determinations. The Thinker in ESTJ has critical ability, the Reflector weighs pro ‘s and con ‘s. I view my calling as an chance to accomplish meaningful aims in a larger context. This scores high as a strength on Schein ‘s ( 2006 ) appraisal and identifies me as SV/Dedicated to Cause. The same appraisal shows my strong GM/General Management competency, wishing for AU/Autonomy and Independence, and a desire for SE/Security and Stability. The determination wholly correspond to Rowe ( 1987 ) Decision Style Inventory where I qualify as Directive. The best organisational tantrum for Rowe ‘s Directive type and Schein ‘s AU/Autonomy type is ‘structured, such as bureaucratisms, or where power and authorization are of import, ‘ notes Rowe ( 1987 ) . My learning manner is Tactile/Kinaesthetic harmonizing to Jester ‘s ( 2000 ) which seems linked to being Reflector, working with item. On Belbin ‘s ( 1981 ) I am an Implementer, Team-worker and Monitor/Evaluator. I am the Confronting Owl on the Conflict Questionnaire by Thomas & A ; Kilmann ( 2007, 1974 ) . Consistent with findings on the LSQ – Reflector, Implementers dislike unproved solutions or thoughts. Team Workers are risk-averse and work good with clearly defined ends like Reflectors. Team worker besides matches Owl the Confronter who seeks to decide differences until all stakeholders agree on a solution. Monitor/Evaluator are slow deciders like Reflectors and prefer to believe things through and see pro ‘s and con ‘s of sentiments and determinations. While Learning Manners are the â€Å" complex of characteristic cognitive, affectional, and physiological factors that serve as comparatively stable indexs of how a scholar perceives, interacts with, and responds to the acquisition environment. † Keefe ( 1979: 2 ) , what such an analysis may neglect to see is the context in which a learner/manager behaves in one or the other manner. An agreeable averment in this respect would be by Sadler-Smith ( 2001: 295 ) warning against the application of larning manner â€Å" in an indiscriminate manner. A necessary component of any statement that seeks to generalise is some comparing of the spheres which one seeks to generalise from and to. † Personally, I find â€Å" 11 Qualities of Effective Manager † Pedlar et Al ( 2006 ) and the Hogan and Champagne ( 1980 ) Personal Style Inventory others as both clearly indicate facets which are developed or are otherwise.Smart GoalsGet a calling occupation ( HR related )Get a occupation which facilitates personal development on strategic and decision-making and policy preparation accomplishmentsWork towards purpose: to be Director HR at a taking company like ReutersKeep in head: Learning and Development demands and better uponToolkit: Detailed PDPTable 3: Smart Goals3.1 Learning and Development NeedsDifferent larning manner appraisals helped border my apprehension of myself as a learner/manager. These exercisings have been exhaustively helpful in foregrounding my acquisition and development demands.REQUISITE LEARNING & A ; DEVELOPMENTDescriptionPrecedenceAcquire relevant professional cognition High – Immediate Proactive Attitude High Mental Agility High Time Management MediumTable 4: Learning and Development NeedsTheoretical background/academic apprehension, which will augment my professional competency, is what I am acute to work on and therefore hold enrolled myself on the class at Birkbeck. Successful directors must exhibit ‘career resiliency ‘ and should â€Å" take part in the direction of their callings by taking greater duty for their acquisition † Thomson et al. , 2001 Waterman et al. , 1994, as quoted in Martin and Butler, 2000. Absence of professional classs induces a sense of under-confidence and sometimes professional insecurity. The immediate negative consequence is that it makes my occupation really demanding and requires usage of creativeness. On the other manus nevertheless, I have thorough cognition sing my company and its countries of specialization. I have been actively involved in assorted undertakings, pulling up policies and processs, forming occupation carnivals, employer stigmatization, covering with ER issues, disciplinary, exit interviews, etc. The sense of under-confidence may good be a beginning of deficiency of pro-active attitude and mental legerity. Given the fact that on my occupation there are other co-workers with more makings and preparations under their belt, this may be keeping me back from being active and agile. I am reasonably good with Time Management. However, I do see the demand to be more effectual at this. Green and Skinner ( 2005 ) believe that pull offing clip has positive impact on calling and life.Proposed Learningâ€Å" Learning is perceived as a consequence from four chief sources/activities viz. ‘experience ‘ ( from mundane life and on-the-job ) , ‘training ‘ , ‘modelling others in the workplace ‘ and ‘coaching ‘ ( i.e. apprenticeship and being looked after ) † Antonacopoulou, ( 1999 ) . There is an discernible inter-dependence between the acquisition and development demands. This translates into a dependable PDP. As mentioned earlier, I will utilize the PDP to maintain a cheque on my advancement. This means that the PDP will be revised from time-to-time.Table 5: Personal Development PlanDecisionThis write-up critically reviewed consequences of assorted larning manners appraisals and derived a Personal Development Plan holding with the averment that persons are responsible for their calling development, non merely organisations CIPD ( 2010, 2003 ) . Under the undermentioned two sub-headings, I will transport out a larning reappraisal every bit good as give a self-reflective history.Learning ReviewAssorted appraisals have given me a clear image of what my larning precedences should be and that in order for this to be a learning exercising and experience that delivers, it is indispensable that my ends be interdependent every bit good as SMART. At present, figuratively talking, I am stat mis off from where I should be working i.e. my current occupation in a proficient section of a messenger company is no aid to my calling programs. However, I am now excess and this might be a approval in camouflage. I want to be in a HR occupation. This will assist me go on my journey towards my ends all the manner developing strategic decision-making accomplishments. Besides it will relieve the sense of professional in-security as I am seeking complimentary formal instruction. I see that this fright has done me harm in footings of decreased mental legerity and low degree of proactive attitude. I will maintain a cheque on my advancement through the PDP. All of the above is clip dependent. Green and Skinner ( 2005 ) put it as holding ‘positive impact ‘ and I will work towards accomplishing excellence in clip direction.Self-reflectionUnder larning reappraisal above, I have tried to reexamine my ends as set above to and turn out that they are inter-dependant. Further immediate betterment is direly needed in footings of theoretical constructs and formal specializer knowledge-base which will assist me derive more professional competency and encouragement assurance.

Scoot service Essays

Scoot service Essays Scoot service Essay Scoot service Essay Scoot service is a biggest advantage from the point view of customers.   There are various benefits that are available for customers by availing scoot service.   Some of the biggest benefits out of scoot service to customers are, timely service, moderate and reasonable charges, service availability of 24 x 7 and above all ensuring safety and security of customers to reach destinations.Scoot service is both innovative and practical with the fact that when the customer is need of scoot service, customer calls scooter cab and informs about the need of chauffeur. Scooter cab arranges for chauffeur with a facility of scooter. Chauffeur places the scooter at the trunk of car and drives customer to the destination point. After attending to customer, chauffeur takes back the scooter from customer’s car and drives back to scooter cab.STRENGTHSIn fact this is a wonderful service reaching customers to the door step and customers in all probability have to appr eciate this kind of service and use this service repetitively.In this particular channel of service, scooter cab comes across several kind of customers. One of a kind is,   customers who are inebriated or intoxicated, put lives in great danger or risk by driving cars either in late hours at night, or in the evening and this is very much common in all parts of the world.   There are greater chances for customers to lose control over steering while in doze off condition.   At times, families are seated at the back whereas head of the family would be driving and even in such instances, it is both unsafe and hazardous. In such serious situations, scooter cab service can be opted for to ensure safe travel to homes.WEAKNESSESScoot service company may not be able to keep all the track of information, while chauffeur is on the job and the probable conversation that is conducted between customer and chauffeur which may lead to indisciplinary motives in receiving money from the customer or any such monetary sources etc.,   Further from the point view of company, chauffeurs are the main strength or asset for the company apart from owning scooters and if these strengths are not maintained, leads to loss of business.OPPORTUNITIESFurther a good knowledge of transport system i.e. busy traffic areas, signal points, route maps, snowy and forest areas,   locations of fuel filling stations, hill areas and any other information that is important to easily reach destination point have to be kept in advance with chauffeur in order to prevent any unforeseen hurdle in transport. Appointed chauffeurs have to be energetic, hardworking, smart and trained with good skills of driving on roads and above all must possess the knack of avoiding / preventing accidents on the roads.   Opportunities are vast for scoot service such that, network operations can be distributed, franchisees can be appointed and even scoot service can operate on hire basis such as cab hiring service. It i s important to remember, that customers always run short of time, and look for quick and speedy service.   Most importantly customers opt for those who maintain time and order in rendering scoot service and it is for scoot service to optimize and maximize these opportunities to make a big business out of scoot service.THREATSHowever, it is important that scooter cab service must ensure, that customers are genuine, registration and license of four wheelers have to be verified before rendering service to customers, which otherwise, there is a possibility of even fraud or misconduct in customers causing chaos for scooter cab service.   The emphasis here is laid on identifying genuine customers in order to function carrying smooth operations for scoot service which if taken leniently may lead to a threat in service.  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Another important risk for scoot service cab is, in case intoxicated customer has developed any cardiac arrests or any other sudden illness, which requires immediate attendance of physicians, scoot service has to take the responsibility of admitting the customer into hospital and inform family members. Therefore, scoot service is held responsible both socially and in business handling of customers.  Ã‚   Unforeseen repairs to scooter are probable and inevitable which cannot be avoided. A regular service to scooters keeping in good and working condition makes the scoot service a best job.

Show How Transactions in Derivatives Can Be Used to Either Hedge Risk or to Open Speculative Positions. Essays

Show How Transactions in Derivatives Can Be Used to Either Hedge Risk or to Open Speculative Positions. Essays Show How Transactions in Derivatives Can Be Used to Either Hedge Risk or to Open Speculative Positions. Essay Show How Transactions in Derivatives Can Be Used to Either Hedge Risk or to Open Speculative Positions. Essay Economics of the Financial System Show how transactions in derivatives can be used to either hedge risk or to open speculative positions. Derivatives have become popular in response to the increasing volatility and complexity of financial markets. A diverse range of new financial products have been created to enable market participants to handle the risks arising from trade in securities and to speculate on future expected movements in securities prices, without direct trade in the assets themselves. Derivative contract creates a promise to deliver or trade an underlying product at some time in the future. The contract gives one party a claim on an underlying asset or cash value of the asset, at a fixed date in the future. The other party is contractually bound to meet the corresponding liabilities. Financial derivatives are traded on organized market such as LIFFE (London International Financial Futures Exchange) and through the intermediation of the clearing house system, there is more flexibility of exchange, and the risk of credit default is reduced. The two parties need not know each other they only have to satisfy the exchange that they are creditworthy to transact. The initial purpose of derivative contracts was to allow traders to hedge risk which they faced in the cash market. Two of the most popular derivative instruments are financial futures and options. Financial futures commit the parties to buy or sell underlying assets at set prices on an agreed future date. The benefit of financial futures in its most basic form can be exemplified by a poultry farmer who is worried about the risk of price fluctuations in eggs for instance. He knows in 8 months he will sell a certain quantity of eggs. He can hedge against this risk by selling (going short) an eight month â€Å"future† in eggs. The â€Å"future† will consist of a standard amount of chicken to be exchanged in eight months, at an agreed fixed price on the day the â€Å"future† is sold. The agent buying the eggs goes long, and is bound by contract to purchase the eggs in 8 months. A premium reflecting the risk of price fluctuation would be charged by the agent. If all goes well, the rate of profit on future contract can be very high but not without considerable risk. Investing in securities expose investors to many risks, the most important is the risk of an unexpected fall in the value of an investment. Likewise, not investing also exposes them to opportunity risk; the risk that future prices of portfolio of asset would rise thereby making it more expensive to acquire. Derivatives market offer investors an efficient way of managing some of the risks incurred in investment by purchasing derivative instruments. This allows them to attain desired adjustment to risk without having to trade in the underlying securities and sometimes gaining a profit. Hedging has become increasing popular as it helps investors to protect against the future value of their portfolio. An investor with a portfolio of cash, bonds and shares can take out a hedge to protect the future sale price of her portfolio by selling a corresponding amount of the appropriate futures contract. Risk could be hedged through options or future contracts. Hedging through future contracts involves taking a position in financial futures contract that will incur a gain to offset a loss in their existing investment portfolio. For example, Amana Mutual Fund manages a large portfolio of stocks. The portfolio manager speculates the prices of stock will fall over the coming month but will increase again after that time. They would like to hedge their portfolio against a loss over that period. A stock index futures contract with a month to settlement date is offered on the Dow Jones Industrial Average stock index at an index level of 20,000. Amana chooses to sell a futures contract on this index because it reckons that this index is strongly correlated with its existing stock portfolio. In a month, at the stipulated settlement date, Stanford will purchase the same contract. If stock prices plunge over this period, the index will fall as well, and so will the futures contract on the index in response. Amana will profit on its future position, because the future price paid at which the index is sold will be less than price paid for the index at settlement date. After a month, the stock market falls as anticipated, and the futures price of the DJIA is at an index level of 19,000. DJIA futures contract are rated at ? 10 the DJIA index, so Amana stands to gain. Sold DJIA futures for 20,000; receives 20,000 times ? 10 =? 00,000 Purchased DJIA futures for 19,000; owes 19,000 times ? 10 =? 190,000 Gain is ? 200,000 ? 190,000 = ? 10,000 This shows that Amana benefits from selling a DJIA futures contract. Amana has gained from a market decline, which can partially counterbalance the loss on its existing stock portfolio. However, to hedge a huge stock of portfolio, Amana would have to take a short position that had a value equal to the size of its entire stock po rtfolio. Options give one party the right, but not the obligation, to buy (or sell) at a set price on an agreed future date. Future Contracts are a means of avoiding risk but at the cost of eliminating opportunity. A trader may prefer to hedge risks through options so he can take advantage of an unexpected upswing. If hedgers of an equity portfolio sell futures contracts against their position to protect their portfolio and see the stock market go up rather than down as they presumed, they would not be able to take advantage of the upswing. It is therefore advisable to use future contracts when the investor is certain of future outcome as the contract fixes the value of an asset. However, hedging via options is more expensive as it protects from downside loss while leaving upside potentials open with the right but no obligation to purchase asset at a fixed price. Derivatives allow firms to hedge against security prices and interest rate movements, the latter being the most actively traded future contract used by banks and treasury managers. A pension fund manager holds an equity portfolio which closely resembles the US stock market in its compositions. If he thinks the US market is going to fall and wishes to turn his portfolio into cash. He has two choices, he could either sell shares which would not be as profitable because share prices might be depressed if it is a large portfolio plus it is time consuming. Or she could simply sell stock index futures against her portfolio. If accurate, the loss incurred on her equity portfolio will be counterbalanced by a profit on her financial futures position. Derivatives reduce the cost of protection through sophisticated risk management. Firms that are adversely affected by interest rate movements can take particular position in derivative securities to offset the effect of interest rate movement thereby reducing risk. By coming into a ‘forward rate agreement’ a company treasurer can fix the cost of borrowing which will be required on some future date, thus avoiding the risk of fluctuating interest rates in the prevailing period. Interest rate future contracts can be used to match the interest rate characteristics of the bank’s asset and liabilities portfolios. Market makers can hedge the risk resulting from significant positions in equities or bonds by buying offsetting contracts in equity or interest rate futures. Interest rate futures specify the amount of the notional bond and its interest- rate coupon, for instance a ? 50,000 nominal 15-year treasury bond with a 10 per cent coupon. Traders using futures to hedge against risk to which they are exposed in the cash market are seeking to lock into existing exchange or interest rates on future transactions. Once a firm has traded out of its open position in the cash market it no longer needs the hedge in the futures market. Howe ver, the use of futures to hedge to hedge against interest rates for instance can give rise to basis risk. Basis risk is the risk that fluctuations in future prices will differ from movement in the price of risk being hedged. Firms are also faced with exchange rate risks, in the absence of fixed exchange rates or monetary unions, firms must take action to protect themselves against these risks by taking out contracts which carry the opposite risk to that which they face in the underlying market. Another advantage of financial futures contract is that they offer both traders and investors the ability to take a short position in the underlying security; sell something they do not have. Traders may think a financial market is falling, by selling future contracts and buying them back later after the price has fallen they would be able to gain profit in a bear market. Derivatives help to combat adverse effects of volatile commodity prices on the economy as forward prices tend to be less volatile than spot prices. Since the spot price of a security can be offset by the sale of future contracts, the risk of holding securities is neutralized. Hedging is the basic motivation for a lot of businesses trading in financial derivatives market. Nonetheless, speculation is just as popular as derivatives allow firms and investors to take positions in the securities on the basis of their expectations of movements in the underlying financial asset. In other words, derivatives are instruments that allow market agents seeking profit gain to gamble on movements in the prices of other instruments without being required to trade in them. Furthermore, speculation provides liquidity in the markets and enables it to operate efficiently. Speculative positions are required to offset any imbalance which may arise from hedging transactions, and active speculation in response to small price movements ensures that any temporary imbalance would not lead to a drastic price change thereby reducing volatility. Derivative markets respond to information quicker than cash market. Therefore it allows speculators to predict with accuracy cash market prices and return of their investment. For example, a speculator who presumed that interest rate was likely to rise or a currency’s value decline would go short in the particular asset by selling a future contract. Derivatives permit traders to build an open position with speed, traders usually close this position when they have achieved profit objective. If anticipated profits are unlikely, they cut losses before delivery date. Investors could either purchase call or put options for speculative purposes. Call options are bought by investors who speculate a rise in price of underlying stock. An investor pays the option premium and becomes the owner of a call option he is entitled to the right to purchase stock at the exercise price up to the time of expiration date. The advantage of this is that investors have secured a price to be paid for stocks and therefore gain a profit in secondary market of stock prices rise. Tayo purchased a call option on British Telecoms (BT) Plc. for $3 per share, with an exercise price of $75 per share. She decides to exercise her option at the expiration date if the market stock price is above $75 at the time. Tayo wants to find out what her possible profit outcomes are per share under the different prices of Boots plc. stock. Possible Outcomes for Investment in a Call Option Possible price of boots plc stock at expiration($)| Premium paid($)| Amount Received from Exercising Option($)| Profit share from investment($)| 71| 3| Option not exercised| -4| 76| 3| 1| -2| 78| 3| 3| 0| 82| 3| 7 | 4| 85| 3| 10| 7| At any price above $75 but below $78, Tayo will exercise the call option but make a loss. For instance, at the price of $76, she can exercise the option by buying the stock at $75 and selling them for $76. However, with a premium of $3 to be paid, she incurs a loss of $2 on her investment. At the price of $78, tayo breaks even and at any price beyond that she makes a profit from this call option. On the other hand, put options are purchased by investors who expect a fall in price of assets. The contract is set at a predetermined rate lower than the current market price, so if prices do plunge further investors earn a profit from put option. This leverage allows speculative investments to be used to take advantage of specific profit opportunities or to insure a portfolio against risk. For an options contract, there has to be a corresponding seller (or writer) to the purchaser of an option, who is prepared to accept the increased risk exposure and the premium has to be large enough to compensate risk. The buyer of a call option acquires the right to buy specified instrument. For example, an investor who speculates that euro will rise against the US dollar could buy a euro surplus giving the right to buy euro at a specified price, say $0. 60 =? 1. If the spot exchange rate were to rise to $0. 68 =? 1, the option holder could acquire euro at $ 0. 60 under the terms of the option and sell them in the spot market at $0. 68. As the price of the underlying product rises, so too will the profit that can be made from exercising the option. The buyer of a call option thus assumes a long position in the underlying product. Swaps are a huge market. The first major example of a derivative trade occurred between the World Bank and IBM in 1983. The World Bank was lending in Swiss Francs and wanted to borrow in Swiss Francs, but it had depleted all its borrowing options, hence it faced rising costs. On the other hand, IBM was a dollar borrower but had never borrowed in Swiss Francs as it had no use for the currency. Nonetheless, Salomon Brothers, the investment bank set up a deal with IBM because IBM could borrow Swiss Francs at a cheaper rate than the World Bank could, so both institutions borrowed currencies they did not need. IBM in Swiss Francs and World Bank in dollars, this was done simultaneously and they converted proceeds into currencies they did need. Salomon Brothers was the ‘writer’ of the debt obligation and because of their dealings with each other; both institutions faced a lower interest rate. All of the above gives evidence that derivatives are a powerful instrument in combating risks and making profits from speculation amongst other. However, Warren Buffet warns that derivatives are not without its curses. He likens derivatives to â€Å"hell†¦. easy to enter and almost impossible to leave† and states that increasing trade in it pose a mega-catastrophic risk for the economy as it pushes companies onto a ‘spiral that can lead to a corporate meltdown’. For example, derivatives trading were held partially responsible for the collapse of the stock market in 1987. The story being that stock market trader anticipated a decline in the price of stocks that weekend. Immense orders to sell were made at brokerage houses and many traders automatically sold futures in shares of major corporations. This panic and wrong speculation destabilised stock markets and contributed to the volatility of the cash market. An example closer to home is the losses of ? 91 million made by traders at NatWest Capital Markets (the investment banking arm of the National Westminster Bank in London) in 1995 and 1996 on deutschmark and sterling options. In Conclusion, financial derivatives , although not without faults, has become a major global growth industry as financial agents have become increasingly assertive and innovative in their use of futures, options and swaps to hedge risks and take speculative positions. References 1) http://news. bbc. co. uk/1/hi/2817995. stm Accessed on the 20th April 2010 2) globalresearch. ca/index. php? context=vaaid=8634 Accessed on the 28th April 2010 3) Howells P Bain K (2007) Financial Markets and Institutions, London: Prentice Hall 4) Mervyn K. Lewis (1999) The Globalization of Financial Services, Cheltenham: Elgar Reference Collection 5) Rutterford J Davison M (2007) An Introduction to Stock Exchange Investment, New York: Palgrave Macmillan 6) Howells P Bain K (2002) The Economics of Money, Banking and Finance, Essex: Pearson Education 7) Henderson R (1993) European Finance, Berkshire: McGraw Hill Book Company 8) Gitman L Madura J (2001) Introduction to Finance, Boston: Addison Wesley 9) Heffernan Shelagh (1996) Modern Banking in Theory and Practice, Chichester: Wiley 10) A. D Bain( 1992) The Economics of the Financial System, Oxford: Blackwell

Communcation Assignment Example | Topics and Well Written Essays - 250 words

Communcation - Assignment Example I will endeavor to cover the course content before the instructor discusses it in class, as this will increase my level of understanding. Moreover, I will handle all assignments promptly. This will mean that I will devote more time in undertaking research, and handing my papers before deadline. It is unfortunate that in the previous years I have had the problem of handing in my assignment past the deadline, a factor that has affected my grades. In 2014, I purpose to change this trend, and prepare for exams thoroughly. This will translate to a high level of dedication the entire semester, so that the final exams are an easier task to handle (New York Times 56). I have been an average student in the previous years, and a self-analysis has helped me to realize that I have more potential. In 2014, I want to explore all the potential that I have, and tap it into my academics. I will seek opportunities of experiential learning during the holidays, and acquire new skills. Moreover, I will take advantage of some of the university career programmes in a bid to diversify my

Foreign direct investment Essay Example | Topics and Well Written Essays - 500 words

Foreign direct investment - Essay Example Foreign direct investment refers to a direct investment into production or business within a country by an entity in another country, either by purchasing a company within a target country, or by broadening operations of a present business within that country. The reasons that may make exporting unfeasible include cheaper producing abroad, reducing transportation costs, lack of domestic capacity such as when demand exceeds the capacity, the need to alter products and services, trade restrictions, and country of origin effects (OECD 57). There are three critical reasons for entities to seek a controlling interest; internalization theory (self-handling of operations), appropriation theory (denying rivals or potential rivals access to resources such as trademarks, capital, patents, and management know-how), and freedom to seek global objectives (participate in global or transnational strategy) (Nicholls 42). Reasons for buying existing operations entail avoiding start-up problems, getti ng an immediate cash flow instead of tying up capital, and gaining easier financing. Overall, the motives for collaborative arrangements entail to spread and reduce costs, specialize within distinct competencies, avoiding or counter competition, learning from other companies (gain knowledge), and securing vertical and/or horizontal linkages. The international motives for undertaking collaborative arrangements encompass aspects such as gaining location-specific assets, diversifying geographically, overcoming governmental constraints, and minimizing exposure in risky environments (Nicholls 44). Companies utilize equity and non-equity arrangements that can range from wholly owned subsidiaries, equity alliances, licensing, franchising, management contracts, turnkey operations, and joint ventures. Foreign direct investment is perceived as a means of enhancing the efficiency with which the world’s scarce resources are employed. Foreign direct investment