5 Stages of Grief

Kubler-Ross Model of 5 Stages of Death Daniel Redwood, D. C. (1995) mentioned the 5 stages of death was introduced by Elisabeth Kubler-Ross in the book On Death and Dying (1956). The 5 stages of death is also known as Kubler-Ross Model. According to this model, there are 5 stages that a person will face when he or she is going through death or is about to lose someone they love or have just lost their loved ones. The 5 stages are Denial, Anger, Bargaining, Depression and the final stage is Acceptance (as citied in Elisabeth K. B. , 1956).The 5 stages will be further explained as below. The first stage is ‘Denial’. In this stage, people who are about to die or have lost their loved ones will be very numb and they will find that there is no purpose in life. Besides that, during this stage, one will not be able to focus in their life and will usually lose their hope. Through being in denial, one will be able to cope and thus making survival to be possible once again. Being in the denial stage also protects them from being overwhelm with the anxiety that they are about to die or have lost their loved ones.Another important reason why one will be in this stage, is because they are unable to accept the reality that they are about to die or have lost their loved ones ( Elisabeth K. B. , 1956). The second stage of death is ‘Anger’. In the ‘Anger’ stage, one will usually be feeling very angry because they got that particular sickness or because they have lost their loved ones. They feel angry because they feel it’s not fair for them to fall sick or for their loved ones to fall sick. This is mainly due to the reason of belief that they have lived a balanced and healthy life. Therefore, they should not easily fall sick and face death.During this stage, the person will usually have a targeted person to release their anger. Usually, the person who is facing death due to some terminal illness will release their anger towards the doctor who is treating them, immediate family members or the person who is taking care of them. According to Axelrod, J. (2006), doctors usually becomes the targeted person because the doctor was not able to find a cure or treatment for the illness that the person is facing. This may be due to the stereotype that doctors should be able to treat and cure all of their patient’s sickness.Family members and the immediate person who is taking care of the person who is facing death becomes the targeted person because the person who is facing death will usually be filled with anger and disappointment due to the fact that they are about to leave their loved ones and not be able to ever see them again. After the ‘Anger’ stage, comes the ‘Bargaining’ stage. According to Elisabeth, K. B. (1956), just before we are about to lose our loved ones, the bargaining stage comes in the form of ‘doing anything and everything’ to spare the life of your loved ones, so that we are able to see them survive and continue living.The bargaining usually involves spirituality, where one will look towards a higher Being for miracle to take place. After a loss, bargaining will appear in the form of â€Å"What if.. † or â€Å"If only.. † statements. This is because, we would wish if we could have return to the past and change things so that we would not have lost our loved ones. The next stage is ‘Depression’. Elisabeth, K. B. (1956) mentioned right after the ‘Bargaining’ stage, we will step into the present state. Feeling of emptiness, sorrow and grief will be very deep and at times unbearable.During this stage, one will feel as though this depression will always be there. Elisabeth, K. B. (1956) also state that the stage of depression is normal when one has lost their loved ones. Finally, we will go through the ‘Acceptance’ stage. During this stage, we have finally accepted the reality and able to live in the present. We may not like the reality, however we have learned to accept. We have finally made a way to be able to continue living our life and move on. Instead of denying the past, one will be able to change, grow and continue living

Simple Stimulus Learning

a. Explain the concept of habituation. The American Heritage Dictionary defines habituation in terms of psychology is the decline of a conditioned response following repeated exposure to the conditioned stimulus. That is an action done over and over in response to a specific situation. One way we learn is by repetition of a specific response across a number of situations (Carducci, 2002). The more we do something the more we have learned it. Then when exposed to the stimulus (an agent, action, or condition that elicits or accelerates a response), regardless of situation, then we perform the behavior. Habituation takes place in small children when trying to teach a new concept or in adults with amnesia when needing to learn a lost skill. Schools use habituation for spelling test and new math concepts. On Mondays students are given the list of spelling words, then each day the write out the words [five times each], find the definitions of each word, write the words in sentences, and then tested on the spelling of each word on Friday. A person suffering from amnesia that lost the knowledge of driving can regain the skill through habituation. b. Analyze the factors that affect perceptual learning. As with most learning, positive reinforcement or rewards have played a factor in how quickly and adequate we learn. Perceptual learning occurs when there is repeated exposure to a specific stimulus followed by a reward, in the form of praise, monetary, or good feelings. It has been proposed that perceptual learning may occur through a reinforcement process, in which consistently pairing stimuli with reward is sufficient for learning (Franko, 2010). In the spelling test example above the positive reinforcement in learning the spelling words is the grade received on the spelling test. Another important factor to perceptual learning is that the stimulus is recognizable and the reinforcement is desirable. In the amnesia case above the person knew how to drive at one time, and currently has a driver’s license (their reinforcement). They would be more inclined to want to learn to drive again to regain independence and also to utilize the already have license. c. Examine the effects of stimulus exposure. If used correctly stimuli have the intended effect of response and learning. The same stimuli will not work the same on everyone, and will not always produce the same response. A good stimulus done correctly will have a positive effect with the desired response (Mundy, 2009). Just as a bad stimuli done incorrectly will have a negative effect with either no response or the opposite desired response (Mundy, 2009). A stimuli that is exposed to too quickly will result in false memory; person replaces what they think they saw (the lost exposure) with an image from memory and report that as what they saw. Schedule of exposure to similar stimuli contributes to the degree of perceptual learning over and above the amount of exposure in a variety of species and stimuli (Mundy, 2009).

Analyzing A Selection Of Childrens Literature English Literature Essay

Analyzing A Selection Of Childrens Literature English Literature Essay With the birth of the field of children’s literature over two centuries old, Carnegie Medal winners represent only a small part of the history and tradition of children’s literature. The Graveyard Book (2009), the most recent addition recipient of the award, follows some of the traditions of the field, and differs in others. In my attempt to discuss how The Graveyard Book fits into the history and tradition of children’s literature, I will be comparing it with other notable works in the field, specifically, Robert Louis Stevenson’s Treasure Island (1883), J. K. Rowling’s Harry Potter and the Philosopher’s Stone (1997), and Philippa Pearce’s Tom’s Midnight Garden (1958). As a fellow Carnegie winner, Tom’s Midnight Garden, offers a comparison of fantasy fiction, and when considered with Harry Potter and the Philosopher’s Stone provides an interesting view of the changes that have occurred in the genre over the years . Treasure Island is structured similarly to The Graveyard Book, and both novels are good examples of the bildungsroman genre. In the course of this essay I will be referring to a range of critical material relevant to my discussion. The effect of children’s literature on children, and the reverse, is circular; as children’s attitudes to the world around them change, so too does the literature written for them, and as that literature changes, it again affects children’s attitudes. Furthermore, the evolution of adults’ understanding of childhood has affected which books are deemed suitable for publication. Children’s literature commonly exemplifies the beliefs and context of the culture in which it is written, however, since the majority of children’s literature is written by adults, it often reflects issues that concern adults, and not the intended audience. Adult-authors must make assumptions about the reaction of a child-reader or the beha viour of a child-protagonist, and in doing so, can sometimes offer a poor representation of a child’s perspective. This difference between the adult’s and child’s attitude to children’s literature can often be seen in the contrast between best-selling books, and those books that win literary prizes. Contrary to this, The Graveyard Book has won the Newbery Medal, Hugo Award for Best Novel, and the Locus Award for Best Young Adult novel in 2009, and the 2010 Carnegie Medal (Wikipedia contributors, 2011), spent fifteen weeks on the New York Times best-seller list for children’s chapter books (Rich, 2009), and has a film adaptation currently in production (Wikipedia contributors, 2011). Gaiman himself recognized the unusual nature of a book being both popular and prestigious, saying that typically ‘there are books that are best sellers and books that are winners’ (Gaiman quoted in Rich, 2009). The popularity and prestige of a children†™s book is dependent on a number of different elements; instruction and/or delight, and social, cultural and historical contexts (Maybin, 2009, p. 116). Maybin states that ‘prizes signify a book’s prestige in the eyes of the critics, but they are not necessarily an indication of its appeal to children’ (Maybin, 2009, p. 118). The division between the children’s books awarded literary prizes, and those that are popular with children is significant. An example of such division can be seen when comparing Philip Pullman’s Northern Lights (1995) and Rowling’s Harry Potter and the Philosopher’s Stone; Northern Lights was the 1995 Carnegie Medal winner, while Harry Potter and the Philosopher’s Stone only reached the shortlist for the 1997 Medal, but went on to win the Nestlà © Smarties Book Prize, The British Book Award for Children’s Book of the Year and the Children’s Book Award, all of which, suggestively, have invo lved children in the judging process. Like The Graveyard Book, both books are fantasy-adventure novels featuring a young protagonist. All three novels are read an enjoyed by adults and children, but while Northern Lights is considered by adults to be ‘quality’ literature, Harry Potter is criticised being not literature but a ‘phenomenon’ (Zipes, 2009, p. 289). Nicholas Tucker (2009) argues that the criteria for judging the quality of children’s books varied according to conceptions of childhood; for those with a romantic conception, the emphasis is on an exciting, imaginative storyline, whilst those who view childhood primarily as preparation for adulthood favour books that are ‘truly representative’ (Tucker, 2009, p. 153). If compared to earlier children’s books, it appears that modern children’s literature reflects the development of a clearer concept of childhood.

Transfer Pricing Essay Example | Topics and Well Written Essays - 1250 words

Transfer Pricing - Essay Example It is usually applied when bodies are separate entities and are individually responsible for their profitability and divisions are accountable for their own profits (Jensen and Meckling, 1976, 315). Since transfer pricing is an agreement between two divisions of same group there is greater chance of conflict of interest as both buying and selling side try to transfer to counter party resulting increased benefit to its division (Chan, Landry, and Jalbert , 2004, 39). This report will also analyze a case between Millwall Company and Reading Company as both these companies are interested in buying and selling with each other and both of these companies belong to the same group of companies. EFEFCTOF EACH PROPOSED PRICE ON MANAGEMENT OF READING The transfer price mechanism is the source of revenue for selling division which in this case is Reading Company and cost for buying division which in mentioned case is Millwall Company. Former aims to get it maximum revenue from deal and latter t ries to get supply at minimum cost. The best option can, therefore, be negotiated at point where both firms are given autonomy as finally they will be held responsible for the profitability of the respective divisions (Grubert and Joel Slemrod , 1998, 368). Considering the fact that Reading Company is already performing under capacity, therefore, it can serve Millwall Company without reducing its supply to other external suppliers and so no opportunity cost would be involved in this scenario. With these assumptions, standard variable cost and opportunity cost would be the total cost that it has to incur. Since opportunity cost is nil in this case then standard variable cost constitutes main component of cost and any point above this would be the profit. Using its spare capacity, selling at any price over and above the average variable price would increase the profit for Reading Company by same amount. For instance, Profit for Reading company = (selling price – average variabl e price) * quantity In the given case price demanded by Reading Company is inclusive of fixed cost as well and only selling and distribution cost is foregone. It is in due alignment with the need of Reading Company as it has to keep profitability improved with its operation under capacity. Offer from Millwall Company is true on its part as it is well calculated from buyer’s current condition of operating under capacity and it would like to pay minimum or at least less than what it would pay to an external supplier to improve its profitability. But management of Reading Company would surely not like this scenario as it would not benefit the profitability of the company as selling the same product to an external buyer give the company revenue of $ 13per unit. Supplying on the price given by Millwall Company would only then improve the profitability of Millwall Company and this can raise an intra-company conflict of interest and reduction in its revenue will reduce its profit. T he best Reading Company is ready to forego its profit by $1.20, which is the market selling price less price offered to Millwall Company. For the price offered by management is less than the one asked by Reading company. This price has already covered the cost and the margin that is suggested to be foregone and it is higher than the Reading’s acceptable price. This price is also not considered suitable for overall profitability of group as it would yield a profit of $ 3 per unit (price: $13 – cost $10) if sold to outsider and this management’s suggested price would reduce the profit of overall group by $2.88 (13- 10.12) and loss in profit is $1.68 (11.80- 10.12) above than profit Reading company is ready to forego. In point of ROI comparison Reading company would finally be held for less profitability overall.

Interstate Agencies Essay Example | Topics and Well Written Essays - 750 words

Interstate Agencies - Essay Example However, is marred with controversy regarding their power position and role legitimacy. It proposes the need to explore the issue and reconcile the power position and legitimacy of the interstate agencies, and clear the air. The constitution provision, in this case, was written in 1787 and ratified in the subsequent year. Since then, the provision regulates the port’s administrative practices. The U.S. constitution is a combination of ideas and views from a significant number of American people and related document such as Declaration of Independence and Articles of Confederation (Peacock, 2008). Since the ratification of provisions in the constitution in 1787, there had been twenty seven amendments by 1992 (Evartt, 2003). Both groups engage in a debate until a common or general understanding is reached. The following is a verbatim derived from the articles in section 1regarding the establishment of the interstate agencies â€Å"Administrative agencies shall created by the federal Constitution, the U.S. Congress, state legislatures, and local lawmaking bodies to manage crises, redress serious social problems, or oversee complex matters of governmental concern beyond the expertise of legislators. †¦all legislative Powers herein granted shall be vested in a Congress of the United States, necessary-and-proper. †¦The Congress shall have power to make all Laws which shall be necessary and proper for carrying into Execution the foregoing Powers and all other Powers †¦ in any Department or Officer thereof." The ratification of the provision can be described as that which was achieved in a constitutional and conventional manner. Furthermore, as can be inferred from the above verbatim of the constitution stipulation, the approach was well set in achieving desirable governance. Indeed, it is arguable that every participating party had the

Religious Imagery in The Glass Menagerie Essay Example | Topics and Well Written Essays - 500 words

Religious Imagery in The Glass Menagerie - Essay Example Religious Imagery Act 1 Scene 4: Probably one of the strongest religious images in the play is the trivialized representation of Christ in the person of the magician named Malvolio (i.e., â€Å"hatred†). Malvolio changes water into wine, then to beer, and finally whiskey. By depicting one of the most popular miracles of Christ (The Wedding at Cana) as a mere trick or illusion, the image is a commentary on superficial religiosity, and Christ compared to a mere magician. Finally, Malvolio rises from a nailed coffin without any injury, quite apparently a farcical re-enactment of Christ’s Resurrection. In a way, the Resurrection encapsulizes the theme that runs through the play, which is all about escape. Act 2 Scene 8: Another religious symbol is also that of Christ as Savior, in the person of Jim, the should-have-been suitor to Laura. Tom brings Jim home on the orders of Amanda, in the hope that romance would blossom and they would eventually get married. The dinner scene was quite suggestively called â€Å"Annunciation† in the stage direction, depicting Tom as the messenger who informs the virgin Laura of the coming of the Savior (Jim).

Heineken Case Study Example | Topics and Well Written Essays - 750 words

Heineken - Case Study Example Nonetheless, the consumption level of beer has been increasing along with its price (Colen & Swinnen, 2011). The diagram represented below exhibits the structure of the internationally expanded beer market as on 2005 along with highlighting the changes since 1961: Structure of the Global Beer Market Source: (Colen & Swinnen, 2011) From the above figure, the consumption level of beer in the global market can be observed and thus it can be stated that the profit ratio of beer industry is also rising with its demand and consumption in various global markets. It is worth mentioning in this regard that with the passing time, the degree of competition along with the threat of substitute products have increased considerably. In this context, wine can be regarded as a major substitute of beer in the global market (Colen & Swinnen, 2011). With reference to Porter’s Five Forces, the threat of substitute products in the global beer market can be regarded as other alcoholic drinks like wi ne and various other types of liquors. However, in recent phenomenon, the industry also needs to witness a strong influence from non-alcoholic substitute products such as soft drinks exhibiting a high degree of substitution threat. Threat of new entrance can also be identified as high within the current structure of the industry as the venture is considered to require only experience and expertise workers involving affordable costs for manufacturing beer. Bargaining power of buyers does not seem to have a major affect on the beer industry mostly owing to its size and diversity. From a similar point of view, the bargaining power of suppliers also has an insignificant impact over the current structure of beer industry due to the easy availability of raw materials. Nonetheless, competitive rivalry indicates the presence of multiple market players, dealing with the similar product. With the increasing threat of new entrants and substitution effects to beer products, it is quite likely t hat the competitive rivalry is expected to increase in the near future (Ekanayake, Getov, & Naridze, 2012). It is in this context that the degree of substitution effect can be regarded as the greater threat to the industry. Contradictorily, the bargaining power of buyers can be regarded to have a minimal effect over the industry operations. 2. What strategy does Heineken follow in the global beer market? Discuss this with respect to competitive strategy, corporate strategy, and international strategy. Concerning its competitive strategies, the company emphasized on adopting various innovative measures intended to change the traditional family-oriented marketing ideologies towards a more technology-oriented modern process. Considering the current industrial structure, it can be stated that a beer company needs to value its competitive strategies along with its corporate and international strategies so as to sustain in its competitive position for a longer period of time. With a simil ar concern, Heineken also adopted the corporate strategy to acquire relatively smaller market players, who were mostly identified as new entrants to the industry. Hence, the corporate strategies adopted by Heineken can be observed as highly influenced by the threat of new entrants in the international arena. Apart from acquisitions, the company also emphasized on encouraging cross-border deals in its international str

Analysis of Circuit City Case Study Example | Topics and Well Written Essays - 250 words

Analysis of Circuit City - Case Study Example I do not think that Circuit City performed poorly merely as a result of the replacement of highly paid workers with poorly paid workers. Stating that the organization’s performance was pegged on employee pay is too simplistic. Figure 1 and Figure 2 below are used to support this argument. Figure 1 shows that as Circuit City’s stock prices increase, customer satisfaction (ASCI index) decreases and vice versa. Assuming stock prices truly represent the financial performance of the organization, and also that there is a correlation between worker pay and customer satisfaction, interpreting Figure 1, one could argue that Circuit City gets higher returns when customer satisfaction is low. In this case, we would expect Circuit City to have performed better with the poorly paid workers who offered poor service. On the other hand, Figure 2 shows that the only time stock price increase/decrease corresponded with a similar increase/decrease in customer satisfaction (ASCI index) wa s between 2006 and 2007. This Figure shows no correlation between stock price and customer satisfaction. Best Buy and Circuit City are in the same industry thus we would have expected their graphs of similar variables to display the similar correlation between stock price and ASCI index unless there are other factors affecting the curves. For this reason, we find it inconclusive to state that the replacement of highly paid workers with lower-paid workers did or did not cause Circuit city to perform so poorly.

Relationship between Rose and Ruby in the novel The Girls Essay

Relationship between Rose and Ruby in the novel The Girls - Essay Example The girls in Lori Lansens’ â€Å"The Girls,† are the extraordinary ones. How to describe the relationship between Rose and Ruby in the novel, â€Å"The Girls†? Its description in one word is, ‘divine’! From the secular point of view, the relationship is both scientific and human. At the beginning of the story Lori Lansens (2007,p.5) makes mention of it in the own words of the sisters thus: â€Å"We have an unspoken, even unconscious, system of checks and balance to determine who’ll lead the way at any given moment. There is conflict. There is compromise.† Each moment, each day of their life is miraculous, yet regulated struggle. Is it a difficult one? One should be hesitant to assert thus. They find an unspeakable joy through their struggles. Their trials and tribulations are extraordinary ones, considering the fact that they are at the threshold of their thirtieth birthday. What a glorious saga it must have been! It is too poignant and adventurous for the printed page to capture! They faced ridicule and admiration with the rarest of rare equanimity of their minds and Lansens puts it thus: â€Å"We’ve been called many things: freaks, horrors, monsters, devils, witches, retards, wonders, marvels. To most, we’re a curiosity. ... ides of our twin heads.†(p.3)They are separate, yet joined together through a very, very special procedure that is difficult for the ordinary mind to comprehend. In the words of Rose, â€Å"When Ruby is tired; I’m hardly ever ready for bed. We’re rarely hungry together and our tastes are poles apart. I prefer spicy fare, while my sister has a disturbing fondness for eggs.†(p.5)The conjoined twins since their birth have many things in common. They remained joined at the head. Their ‘life-together’ began thus: Rub’s arm curled around rose’s neck, her foreshortened legs wrapped around Rose’s hips. The journey of their life has been an incomparable one. Rose enjoys reading and writing, Ruby likes to watch TV and spend time with the kids. They have the normal quota of quarrels like other sisters. If Rose consumes alcohol, Ruby would turn sick. Even the pattern of their jobs is different. In the library Rose shelves books and Rub y reads out the content loud to children. On every count of similarity and difference, their lives are delicate and baffling. In the chronicle of their life’s journey they create many head-lines. The physical relationship between the two sisters is a marvel right from birth. Lansens writes, â€Å"How long must they have stared before someone spoke? Our combined weight at birth was ten pounds seven ounces. I was the longer one; my legs perfectly formed my torso somewhat shorter than normal, making my arms appears somewhat longer.†(p.23) Ruby is pretty, but short and truncated and cannot walk. She is a permanent load on the hip of Rose. Though tall, Rose has a distorted and grotesque face because Ruby’s head constantly pulls at hers. The story has a great philosophical message explained through the struggles of the two girls, physical

Search on Mechatronic Essay Example | Topics and Well Written Essays - 3000 words

Search on Mechatronic - Essay Example Mechatronics may also be referred to as "electromechanical systems" or less often as "control and automation engineering" (Wikipedia, 2007). Mechatronics meant a mechanism that is electrified until the early 1980s. Where as in the mid-1980s, mechatronics came to mean engineering that is the boundary between mechanics and electronics. In this 21st century, the term mechatronics encompasses a large array of technologies. However, each technology still has the basic element of the merging of mechanics and electronics but now it also may involve software and information technology (IEEE/ASME, 1998). For instance, many early robots resulted from mechatronics development. As robot systems became smarter, software development, in addition to the mechanical and electrical systems, became the main focus of mechatronics. To give some of the common examples where mechatronics systems are used include: the design of robots, washing machines, cameras, microwave, motor vehicles, DVD, etc. and other machines where an integrated engineering design is being adopted. Integration involves subjects such as mechanical, electrical, electronics and control engineering. In other words, mechatronics combines together areas of technology that involve sensors and measurement systems, drive and actuation systems, analysis of the behaviour of systems, control systems and microprocessor systems. In general a mechatronic system consists of the following basic items. The product or production process involves a mechanical structure containing actuators (generally it may be a motor to make things move), a microprocessor to control the overall operation of the system, sensors to allow the microprocessor to monitor the state of the system and electronics to connect the other parts together (fig 1). Mechatronics in the 1970s, was concerned by and large with servo technology used in

POV’s and Traffic Tickets Essay Example for Free

POV’s and Traffic Tickets Essay There are quite a few soldiers in Oahu, Hawaii that own POV’s (Personally Owned Vehicles), but many do not know the risk behind owning such dangerous tools. Yes, a POV is typically used as a form of transportation, but more reckless behavior tends to be the trend among younger soldiers. Reckless behavior such as texting and driving, drinking and driving, eating and driving, sleeping and driving, not wearing seatbelts, but the most dangerous of these behaviors is racing or speeding. As described previously young soldiers tend to show many signs of reckless driving one of which was racing or speeding, but you may ask yourself why racing and speeding? What reason might soldiers, especially younger ones, have for racing or speeding? Well it is quite simple. Many young soldiers have not fully POV’s and Traffic Tickets

Harlem Renaissance Essay Example for Free

Harlem Renaissance Essay Claude McKay was Jamaican American who moved from Jamaica to the United States in 1912. He attended the Tuskegee Institute in Alabama. This is where he received his first taste of racism here in America and this would have a drastic effect on his future writing. He left the Tuskegee Institute to attend school in Manhattan, Kansas. Mr. McKay then moved to New York invested in a restaurant and got married. The restaurant fell through and McKay moved back to Jamaica. He later became an editor of the Liberator and wrote some of his own poems during the time period known as the red summer. One of his poems he wrote in protest of the harsh times would later be used by Winston Churchill during World War II to motivate the soldiers. (Modern American Poetry, 2011) â€Å"If We Must Die†, written by Claude McKay during the summer of 1919, is a mantra for people to stand up against those who wish to keep them down or in Churchill’s case to kill them during battle(Sayre, 2012). He is saying even if they must die they should do it with dignity. They may only have the grave to come, but he does not wish them to just lie down even in the face of adversity. Claude McKay displays double consciousness from the time he comes to America. He is first an intelligent Jamaican man who has come here to America in search of an education. Here he was seen by the white Americans around him in Alabama as nothing more than just another â€Å"colored† man. Claude had to deal with both being â€Å"colored† or â€Å"Negro† and being an American. In his poem â€Å"If we must die† McKay shows the idea of double consciousness all the way through. He shows the pride of a dignified man who will not just sit back while anyone attempts to push down into the grave. His writing is not specific to one race or ethnicity, as proven when the British Prime Minister used it to motivate the British and American soldiers. (Sayre, 2012) Langston Hughes was a young poe t, writer, and musician during the Harlem renaissance period. According to Sayre (2012), Langston was like many African-Americans searching for a freedom they could not find in America moved to Paris. In France he was subjected to a music very similar to jazz and ragtime. Harlem was quickly becoming the Paris of America to African-Americans because they were free to be who they want to be and accepted by all those around. When Hughes moved backed to Harlem he became one of the most powerful voices for the African-Americans in Harlem due to his abilities, according to Sayre. His capability to speak to your emotion and to create a feeling empathy, as well as his use the local speech, grammar, and dialect made his works attractive to all. According to the Kansas Heritage Group (n.d.), Langston Hughes had only been in college a year before finding the allure of Harlem, where he met many other famous poets of the times. Langston Hughes wrote the poem â€Å"As I grew older† describing how he has a dream but because he is a â€Å"Black† man he has walls that rise up between himself and his dream. This is a perfect example of double consciousness, because like all Americans he has these dreams that are always growing within him. However because of his ethnicity he has walls that are placed in his path. He feels because he is black man he is being forced down into the shadows and blocked from his dreams. He also is persistent enough in the poem to not lie in the shadows and let the wall win. He breaks through the wall and pursues his dreams despites the efforts to block him. (Poemhunter.com, 2003) The poetry of the times brings out the views and emotions of the people who were writing it. These poems bring out the feelings desire to be free to chase their dreams that write about as well. There are many poems that display thoughts of death and dying. Some of the themes were being brought on by the war, while others are themes were brought on by the feelings of oppression and racism. The biggest theme of them all is the fact we are American, whether we are black or white, Jamaican, German, or French descent, we are American. In Langston Hughes poem â€Å"Theme for English B† he states he is black and â€Å"You are white- yet a part of me, as I am a part of you. That’s American†. We are all American and we are all one. We all have similar desires not identical but similar in nature. We want to be free to be what and who we want to be without being held back by others who wish to hold us back in order to advance themselves. In his poem â€Å"As I grew older† he writes about oppression, â€Å"And then the wall rose, Rose slowly, Slowly, Between me and my dream†, The wall rising is the oppression brought about by the racism he faced here in America. Claude McKay in â€Å"If We Must Die† he writes a poem that can used to motivate a group of people as Churchill used to motivate the soldiers of WWI or to motivate the African-Americans here in America. He wants his people to have their honor even in death. â€Å"If we must die-oh, let us nobly die,† He wants to be seen with honor and dignity as he wishes for all his people. In the poem Christianity I write about beliefs and faith in a world where it seems to shun anyone who openly believes in Jesus Christ and his teachings. In today’s society Christians are often told they are cannot display their crosses in public spaces, because â€Å"we are pushing our beliefs on others†. This country was formed with the idea that people would have their freedoms. Freedoms that their previous government denied them, and one of the biggest freedoms they searched for was freedom to practice the religion of their choice. Christianity in its many forms was the biggest religion at the time of this country formation and you can see that in many ways even still today, however publically today there seems to be a push to hide all forms of religion. Christianity seems to be the religion that people wish to hide the most. This is why I chose to use this theme for my poem. Christianity Faith Belief in only one Love all – even my enemy They don’t want love They don’t want faith Truth Will Science ever agree Where is your evidence Is your truth, My truth Freedom Freedom to live Freedom to Love Freedom to believe Freedom to question Faith Who wants it Who needs it Why have it They certainly do not want it References Modern American Poetry (2011). Claude McKay. Retrieved from http://www.english.illinois. edu/maps/poets/m_r/mckay/mckay.htm PoemHunter.com (January, 2003) As I grew older by Langston Hughes. Retrieved from http://www.poemhunter.com/poem/as-i-grew-older/ Sayre, H. M. (2012). The Humanities: Culture, continuity and change, Volume 2 (2nd ed.). (2011 Custom Edition). Upper Saddle River, NJ: Pearson Education. Kansas Heritage Group, (n.d.). Langston Hughes Biography. Retrieved from http://www. kansasheritage.org/crossingboundaries/page6e1.html

Foreign Exchange Risk Exposure on Toyota Motors

Foreign Exchange Risk Exposure on Toyota Motors The globalization phenomenon allows companies to internationally expand their sales and production activities. A consequence of this phenomenon, however, is the existence of foreign exchange rate exposure which can impact the companys profitability, net cash flow and market values. In the past years, several academic researches have been developed in order to explain and analyze how foreign exchange risk exposure fluctuations affect a multinational company or a purely domestic company value, and how this risk is influenced by the companys risk management strategy. Consequently, this dissertation aims to find some knowledge on these subjects for a specific company, Toyota Motor Corporation. By applying the capital market approach and analyzing three different periods, it is possible to conclude that Toyota Motor Corporation, in a crisis situation, was able to protect itself against some of the primary exchange rates fluctuations it is exposed to. Thus, the predictability of higher fluctuations allows the company to apply effective risk management strategies. Considering a ten year period, bilateral exchange rate fluctuations are more significant to the company stock returns than for other periods. However, being an exporting company, its coefficient for exposure is not consistent with the competitive advantage an exporter holds when its company home currency depreciates. It is consistent, however, when the broad currency index is considered. Additionally, the impact of foreign exchange risk fluctuations is small for company stock returns. This can thus indicate that exchange rate fluctuations dont have a significant impact on company stock price returns. INTRODUCTION The globalization phenomenon has allowed the integration of national economies into the international economy, giving them easier access to information, goods and services through trade and foreign direct investment around the world. This process has been encouraging an increasing number of companies to start operating on a global scale, expanding their networks worldwide. In recent years, the number of multinational companies has grown in order to respond to the competitiveness experienced in the domestic market and explore new markets to produce or sell new products and services. Multinational companies, or purely domestic companies with a broad network, are exposed to several risks. An important risk that has a significant impact on the management of a company is the foreign exchange risk, due to the fact that it may affect the companys cash flows, value and performance. Nevertheless, besides the foreign exchange risk, many other risks affect companies, such as the interest rate r isk. Several financial and operating instruments and techniques are being used and developed by multinational companies to handle these risks. However, in order to manage these risks, companies must know exactly what their risks are and how to measure them. With regard to foreign exchange rate exposure, several studies conducted in recent years have presented various risk management approaches in order to understand to what extent its fluctuations affect the companys value and performance. However, there is little consensus among the different studies, which indicates that exchange rates are complex and can affect and be affected by different factors. The most traditional approaches are the cash flow approach and the capital market approach. In this study, the capital market approach is used to assess, through quantitative methods, to what extent foreign exchange rate fluctuations affect the companys value. It is important to note that several studies using quantitative methods found no statistical significance when trying to understand the impacts of foreign exchange fluctuations on the companys value. Thus, an explanation given for this fact was that the company was able to protect itself against foreign exchange rate fluctuations by means of hedging instruments and techniques. The main purpose of this study is to analyze the foreign exchange risk exposure of a multinational company using the capital market approach, and also to what extent the various assumptions underlying this approach produce different results. The choice of the multinational company was based on the following requirements: it had to be a public company operating in a competitive industry and could not be the subject of any other study in the same area. Accordingly, the Toyota Motor Corporation was chosen. Its main plants are located in Japan; it operates in the Automotive Industry and was the worlds largest manufacturer in 2009. Furthermore, 61.4% of total sales to external costumers are overseas, which indicates that the company is likely to face considerable impacts from foreign exchange risk exposure. In order to achieve the main purpose of this study, Toyotas foreign operations are analyzed in a first phase to understand to what extent the company is internationalized. Moreover, this initial analysis also envisages the foreign exchange rate fluctuations against the companys stock price returns and their direct impact on its report accounts, as well as the hedging instruments used to handle the foreign exchange risk. In a second phase, the capital market approach is used to suggest that foreign exchange risk exposure could be measured as the sensitivity of stock price returns to exchange rate movements. This approach requires the implementation of statistical regressions. For this purpose, market, stock price and foreign exchange rate data were collected from 1999 to 2009. Considering the studies developed by different authors, regressions involve several hypotheses for the exchange rate variables, such as a Nominal Broad Index that is like a basket of currencies and several bilateral exchange rates, in order to understand which variables affect stock price returns. In this second phase, the quantitative method is applied to three different periods in order to compare how the company handles the foreign exchange risk. As this dissertation takes into account the investors point of view, it can help to understand how investors determine and quantify the exposure of their portfolio to the foreign ex change risk. Moreover, this approach allows comparing the companys exposure to foreign exchange rate fluctuations with that of competitors in order to understand the effectiveness of the hedging activities. To complement this study, this dissertation is organized under the following sections: The first section is a thorough review of the literature on this subject. It explains why it is important that companies know how to handle the foreign exchange risk and presents the findings of past research. In the second section, the traditional categories of foreign exchange risk exposure are described, the effects of hedging the foreign exchange risks are shown and the most used analysis methods are discussed. The third section provides an overview of Toyota and an analysis of its foreign operations. The main purpose of this section is to support the interpretations that emerge from the regression results and this information is used as the basis for selecting the variables for the regression model. In the fourth section, relevant analyses are provided about the variables that may be a source of risk for Toyota and which were chosen for the regression model. In addition to this, it presents the hedging programs undertaken, the designated and undesignated financial instruments used and the reasons why the company does not need to have financial instruments to hedge translation and economic exposure. The fifth section describes the methodology used. The reasoning, as well as the issues of each variable included in the model, is expressed in this section. It also presents the study time periods and data sources. In addition to this, it provides an analysis of the descriptive statistics for the data and different periods used in the model. The sixth section contains the regression results and provides an analysis and explanation of the findings. It also presents the limitations of the software used for the regressions and a brief analysis of the foreign exchange risk exposure of Honda and Nissan Motor Corporation. The seventh and last section summarizes the main conclusions of this study and presents some suggestions for further research. LITERATURE REVIEW The goal of creating a global business has, in the past years, been the fundamental reason behind the growth of multinational companies. Such an example is the registered growth in Japanese companies exports. In 2000 and 2009, exports from Japanese companies amounted to 0.8%  [1]  and 10.8%1 of the GDP, respectively. An annual growth of 32.9% in foreign activity, for a nine year period, is one of many advantages that companies can obtain by opening themselves in many ways. Other advantages include the opportunity to diversify labor force, to enter new markets and sell more, to reduce transport costs and to benefit from economies of scale. This, however, also creates new problems, challenges and demands. A multinational company is either a company with operating subsidiaries, branches or affiliates in more than one country, or a purely domestic company engaged in international activities (imports and exports). Some of the new problems and challenges these companies face include an increased exposure to foreign risks, such as exchange rates, interest rates and commodity prices [Miller, 1998]. Moreover, the risks associated to exchange rates appear do to the contact with new currencies  [2]  . Exchange rates constitute one of the most important macroeconomic risks, which can potentially impact, positively or negatively, the companies profitability, cash-flows and market value, due to exchange rate fluctuations. Consequently, in order to handle exchange risk exposure, companies can adopt several hedging tools. In the past decades, thanks to the increasing number of international trade activities and multinational enterprises, as well as the large currency fluctuations registered, the volume of research that tries to measure and analyze the impact of exchange rate fluctuations in multinational companies and their vulnerability to it has grown. However, produced results/conclusions have a mixed nature due to the complexity of this subject. The main goal in this section is to understand, through previous researches, what types of companies are most affected by exchange risk exposure, the importance of hedging, several types of foreign exchange risk exposure, types of hedging activities depending on the foreign exchange risk exposure the company is facing and traditional approaches to measure exchange risk exposure. Exchange Risk Exposure of Multinational Companies vs. Domestic Companies Thanks to the phenomenon of globalization, as well as the increase in companies foreign activities, several researches have been developed in order to give some input on what type of companies show a higher exchange risk exposure: multinational or domestic companies. The results of previous empirical studies suggest that only certain industries and/or companies are exposed to foreign exchange risk  [5]  . In the other hand, even a purely domestic company with importing or exporting activities is impacted by fluctuations in exchange rates. This idea is connected with competitive advantage; for instance, the products an exporting company sells abroad can still affect the companys value due to the effect of exchange rate fluctuations in competitors, suppliers and in customers demands. Muller and Verschoor (2006) concluded in their study that a companys size is also an indicator of its foreign exposure. They found that a companys lower dividend payout ratio results in a stronger short-term liquidity position and, consequently, a smaller hedging motivation and a higher exchange risk exposure. Other authors however, such as Choi and Jiang (2009), defend that multinationality is important for a companys exchange exposure, but not in the popular notion that was mentioned. Some authors found evidences that foreign exchange risk exposure is actually higher and more significant in absolute magnitude for domestic companies, when compared to multinational companies. The existing explanation for this finding is the fact that multinational enterprises are more capable to effectively and easily use financial hedging and operational hedging in order to reduce their position against foreign exchange risk, and also to increase their stock returns. Additionally, these companies are more aware of foreign exchange risks. Dominguez and Tesar (2006) agree with this finding and they also found that small companies, rather than large and medium-sized companies, show a higher exposure due to the same reasons. As a result, companies that dont engage directly in international business but compet e against foreign companies can be affected by exchange rate fluctuations [Dominguez, Tesar, 2006]. Dominguez and Tesar (2006) also found that the industry level may influence exposure. They suggest that exposure increases in highly competitive industries. In more competitive industries, however, an almost perfect pass-through can be expected since they are more aware of their vulnerability and are consequently better motivated to hedge foreign exchange risks, when compared with less competitive industries  [6]  . Regarding purely domestic companies, Pritamani, Some and Singal (2005) found that importing companies are more affected by fluctuations in exchange rates than exporting companies. Therefore, companies with importing activities should have more reasons to hedge exchange risk exposure. The Importance of Hedging Exchange Risk Exposure Hedging means taking a position when acquiring a cash-flow, an asset or a contract in order to protect the owner from losses and to eliminate any gain in the position hedged. Several researches indicate that currency risk management is very important to manage earnings and unexpected losses. Consequently, this should be done in order to reduce any impacts on the stockholders equity and to prevent value declines for the equity holder due to cash flow changes and unfavorable exchange rate fluctuations, respectively. Hedging currency exposure can therefore reduce some of the expected fluctuations in future cash flows and increase their predictability [Smith and Stulz, 1985]. It is believed that foreign exchange rate fluctuations impact financial decision-making in production, marketing, planning and strategy [Moffett and Karlsen, 1994]. It is therefore necessary to make contingent investments or develop long-term strategic plans and management perspectives in order to understand the volatility of foreign exchange. Companies can implement hedging tools based on policies that define when and how to hedge against foreign exchange risks. Hedging tools are not static mechanisms, companies are able to dynamically adjust their behavior in response to foreign exchange risks; for instance, a company can decide to hedge only part of their foreign transactions. To undertake these policies, the company needs to determine its risk tolerance and needs to understand the direction that the currency to which it is exposed is likely to take. A value maximization corporation that hedges its exposure to exchange risks can reduce the costs connected to financial distresses and taxes, as well as agency problems existing between shareholders and bondholders [Martin and Mauer, 2005]  [7]  . A possible reduction of financial distress costs allows investors to require lower risk premiums. Consequently, the company value increases [Smith and Stulz, 1985]. Therefore, as mentioned by Smith and Stulz (1985), hedging is part of the overall corporate financing policy. Moreover, Dumas and Solnik (1995) concluded that part of the return rate of an assets price is influenced by the foreign exchange risk premium. Thus, when a company implements risk management activities that decrease its foreign exchange risk exposure, the cost of capital is reduced. Some authors sustain that exposure management may not reduce total risk. Copeland and Joshi (1996) argued that anticipating hedging strategies is difficult given that so many other economic factors change when foreign exchange rates fluctuate. This is confirmed by Moffett and Karlsen (1994), who argue that the uncertain nature of future cash-flows hinders the implementation of long-term strategic plans and better investment decisions. It is also argued that risks connected to an inefficient hedging activity can increase exposure [Hagelin and Pramborg, 2004]. Additionally, currency risk management usually consumes some of the companys resources, consequently lowering its expected cash-flow [Eitman, Stonehil and Moffett, 2010]. Therefore, companies need to know whether their hedging strategies are successful or not, and if they are relevant to shareholders [Hagelin and Pramborg, 2004]. Findings regarding the Vulnerability of Multinational Companies to Foreign Exchange Risk Exposure Hedging tools that handle exposure to foreign exchange risks are not simple and they dont hold only a few complexities, since the companys exchange risk exposure correlates with its size, multinational status, foreign sales, international assets and competitiveness and trade at the industry [Dominguez, Tesar, 2006]. Adler and Dumas (1984) suggested that a companys foreign exchange risk exposure can be measured by the stock prices sensitivity to unexpected foreign exchange rate fluctuations. On the other hand, it could also be measured as the companys cash flows sensitivity to foreign exchange rate fluctuations. Considering that the main goal of this dissertation is to analyze economic exposure, it is important to note that several authors have developed researches that try to measure and analyze unexpected impacts of exchange rate fluctuations on companies performances, portfolios and Industries. Nevertheless, these researches have produced mixed empirical results. Jorion (1990) found that only 15 of 287 US multinational companies were statistically significant concerning the impacts of exchange rate fluctuations in companies stock returns. Additionally, the author detected that higher company foreign operations reflected higher exposure to exchange risks. Nevertheless, Bartov and Bodnar (1994) found that 208 of the companies with foreign operations that composed their sample were not statistically significant to the effect of US exchange rate fluctuations on companies stock price returns. Additionally, other researchers have reached mixed conclusions using different methodologies, samples and alternatives for the main variables. The inconsistency in these results, therefore, doesnt allow a sustainable conclusion on this subject. Recent studies, however, found evidences that exchange rate fluctuations do have an impact in companies performances. Such an example is the research developed by Dominguez and Teaser (2006), who found exposure to be statistically significant due to the effect of exchange rate movements on stock returns at Industry and country level. Some explanations have been pointed out by several authors for these mixed results. The registered contradiction can be explained by limitations concerning data, variables and methodologies used. Different researches develop different alternatives in order to determine foreign exchange risk factors and company values, which include different samples, the use of companies with less opened economies (USA) or more opened economies and different periods; all of these affect research. Bartram (2008) also explains that the use of stock returns to measure company value reflects the hedging position of companies, and the analysis is thus considering a lower level of risk exposure. Crabb (2002) also suggests that these mixed results can reflect different financial hedging strategies on data or simply reflect noisy data. Additionally, Bartram and Bodnar (2007) found that operational hedging activities help companies reduce their exposure and, consequently, have no statistical significance over the impact of foreign exchange rate fluctuations on companies returns. Therefore, as suggested by Crabb (2002), a statistically non significant exposure to exchange rates can result from an efficient hedging strategy set in place by the company. Types of Foreign Exchange Risk Exposure The hedging decision depends essentially on the level of risk exposure, its magnitude and the magnitude of hedging that companies deem necessary. Companies should essentially hedge activities that put them in a position with a high level of uncertainty, i.e., risk exposure in the strategy field (competitive, input supply, market demand and technological risk) and fields of interest to finance and international business scholars (foreign exchange risk), [Miller, 1998]. Before initiating the hedging process, the company has to decide what exchange risk exposure to hedge and how. There are three traditional foreign exchange rate exposure categories  [8]  that impact companies and that have a specific managing method: the transaction exposure, the operating exposure and the translation exposure. Generally, these exchange risk exposures can be hedged through the use of derivatives and financial instruments, such as commodities, futures and forward contracts, options and swaps [Miller, 1998]. The main goal of this dissertation is to measure and to analyze how unexpected foreign exchange rate fluctuations affect a multinational company. Notwithstanding it is also important to understand how the other two types of exposure impact companies and the types of hedging mechanisms available to handle exposure, in order to reach a deeper analysis and optimal conclusions. Economic Exposure Economic exposure, also known as operating exposure, is an unexpected change in exchange rates that affects the present value of the company by changing future operating cash flows, arising from inter-company and intra-company activities [Eitman, Stonehil and Moffett, 2010]. The unexpected exchange rate fluctuations affect the expected future operating cash-flows changing the volume, price and/or costs of future sales [Moffett and Karlsen, 1994]. Economic exposure approaches the impact of long-term currency exposure and analyzes the health of a companys business in the long run. The changes registered in the expected future cash flows depend of the change in the position the company holds in international competition  [10]  . Managing economic exposure involves all aspects of a company. Before establishing hedging policies, a company needs to measure its economic exposure. In order to do that a company should invest some resources in assessing its exposure, i.e., identifying the set of environmental contingencies affecting and relevant to the creation of shareholder value [Miller, 1998]. This identification allows the assessment of alternative environmental scenarios and consequent adoption of improved strategic decisions by the company. This is the reason why identifying and measuring economic exposure can be complex and difficult, bearing in mind that environmental contingencies vary across industries and across companies within those industries. Moreover, some authors mention economic exposure as being subjective, since it is based in estimates of future cash flows. Hedging Strategies The main goal of economic exposure management is to anticipate and influence unexpected and unpredictable effects in exchange rates. This can be accomplished if a company diversifies and changes its international operating and/or financing policies. This diversity allows the company to react in an active or passive way. The company can diversify operations through sales, location of production facilities and raw material sources or inputs [Eitman, Stonehil and Moffett, 2010]. A company can expand its sales through subsidiaries distributed across different countries, bringing its products or services to new markets and taking advantage of economies of scale, being also capable of diversifying its exposure to foreign exchange risks. Flexible management policies allowing a faster sourcing of raw materials and components can easily mitigate this exposure if this adaptation considers the impact of exchange rate fluctuations in the company costs and revenues. Additionally, RD can also mitigate this exposure, allowing the cutting back of costs and enhancing productivity as well as product differentiation. Choi (1989)  [11]  pointed out that international investment is one of the major instruments in managing economic exposure. In the same line, Miller and Reuer (1998) developed a study that showed this exposure is considerably reduced with a higher and direct foreign investment by the company (foreign market entry mode). Additionally, Smith and Stulz (1985) found that mergers achieve results that are similar to hedging results. Consequently, a company may wish to diversify the location of its production facilities internationally in order to mitigate the effect of exchange rate movements. This mitigation is possible because the company measures its cash flows in different currencies. Thus, exchange rate fluctuations in all currencies the company is exposed to can be naturally offset as can, consequently, the gains or losses while the company still reacts competitively. Diversification in financing is achieved by raising funds in more than one capital market and in more than one currency  [12]  . This method allows the company to reduce future cash-flow variability, to increase capital availability and to reduce costs, as well several risks, such as political risks. Allayannis et. al. (2001) observed that companies with geographical dispersion are more likely to use financial hedging strategies to lower their foreign exchange risk exposure. Accordingly, the use of exclusively operational hedging does not increase the companys value. However, if companies combine operational and financial hedging they will improve their value and, consequently, reduce exposure to foreign exchange risks. Companies can also adopt proactive policies (including operating and financing policies) to offset anticipated foreign exchange risk exposures. These policies allow a partial management of this exposure. The most generally employed are  [13]  : matching currency cash flows, risk-sharing agreements, back-to-back loans, currency swaps, leads and lags and reinvoicing centers. [Eitman, Stonehil and Moffett (2010)]. Transaction Exposure Transaction exposure measures gains or losses resulting from unexpected changes in future cash flows already contracted in a currency-denominated transaction [Martin and Mauer, 2005]. The uncertainty stems from the impact of exchange rate changes on the consolidated financial reports [Friberg and Ganslandt, 2007] and the fact that it is not anticipated in any line item of a financial statement [Eitman, Stonehil and Moffett, 2010]. Thus, the uncertainty can be the specific quantity of foreign currency or the timing of cash-flow [Moffet and Karlsen, 1994]. Transaction exposure approaches foreign exchange risk exposure in the short-term. It is therefore easier to identify and to measure, allowing a greater effectiveness of hedging strategies to be expected. Hedging Strategies The exposure to foreign exchange transactions can be hedged by contractual, natural, operating and financial hedges. The company, however, needs to determine its own risk tolerance and its expectations concerning the direction the exchange rates will assume. Contractual techniques include hedges in forward  [17]  , policies that imply proportional hedging. A natural hedge is basically an unhedged position where the transaction is left uncovered. Crabb (2004) suggests that this is not a very good hedge because it doesnt control variation over time and, consequently, companies cannot perfectly hedge their exchange rate exposure. An operating hedge means that the company will simply create an off-setting operating cash-flow (account payables, for instance). This hedge can also be implemented through several techniques, such as invoice currency, leads and lags in payment terms and exposure netting [Eun and Resnick, 2004]. Hedging through invoice currency allows the company to shift its foreign exchange risk exposure, invoicing foreign sales in home currency, or share foreign exchange risk exposure  [18]  , pro-rating the invoice currency between foreign and home currencies. Additionally, a company can also diversify its exposure to foreign exchange risks by invoicing sales in a market basket index [Eun and Resnick, 2004]. By hedging with leads and lags companies can accelerate or decelerate the timing of payments (receipts) made (received) in foreign currencies. This hedging strategy is efficient if a currency is expected to appreciate or depreciate against another [Eun and Resnick, 2004]. Finally, the technique of exposure netting suggests that a multinational company should not consider its deals in isolation, focusing rather on hedging the company in a portfolio of currency positions. This means that companies should consider overall payments (receipts) that must be done (received) after taking in account the opposite operations that naturally hedge each other. To use this technique some companies have re-invoicing centers, separate corporate subsidiaries that serve the parent or related unit in one location and all foreign subsidiaries. The reinvoicing center receives the invoice between the subsidiaries, taking legal title of the good that manufacturing plants sells to distribution subsidiaries of the same company, managing all foreign exchange transaction exposure for intracompany sales [Eun and Resnick, 2004]. Additionally, the reinvoicing centers can guarantee the exchange rate for future orders  and also manage intra-subsidiary cash flows [Eitman, Stone hil and Moffett (2010)]. Financial hedging refers to the creation of an off-setting financial cash flow by either borrowing or lending in the currency the company is exposed to. The company can use some type of proactive policies such as back-to-back loans and currency swaps. A back-to-back loan occurs when two companies in different countries coordinate themselves to borrow each others currency for a specific period of time. They then return the borrowed currencies at an agreed terminal date. By hedging via currency swap, the company and a swap dealer agree to exchange an equivalent amount in two different currencies (for instance, a company enters a swap paying yens and receiving dollars) for a specified period of time. The swap dealer assumes the role of a middleman. A matching currency cash flow proactive policy can act like a financial hedge or an operational hedge. The first alternative to offset a long-anticipated and continuous exposure to a particular currency (i.e., the Japanese Yen) is to acquire debt in that currency (in Yens). Suppose the following exposure: A US Corporation exports goods to a Japanese corporation. The inflow of the Japanese Yen creates a foreign currency exposure. An hedging technique requires that the debt payments in Japanese Yens, which consist of the principal and the interests paid by the US Corporation

The Pros and Cons of Teaching Sex Education in Public Schools Essay

     Ã‚  Ã‚  Ã‚  Ã‚   Picture a young couple being on the verge of exploring their sexual desires for the first time. The question is does this young couple have the proper education to make this life changing decision? They most likely were given their education from the school they attend. Hopefully the school taught them what they needed to know to make such a decision. Should sex education be taught at school by teachers or by the parents? Problems with having sex education at school There are many problems with having sex education in public schools. Religion plays an important part to the topic of sex education. Some parents feel that if the school gets to speak to their children about sex before they do, than important things about their religion will be left out of the discussion. If their religion says not to have premarital sex, then that child doesn't need to learn the proper way to put on a condom, where to go to get birth control pills, or anything about abortion. None of this information is going to be needed because the child of the family who uses religion as a guideline for everyday life. These children don't need their heads filled with what isn't important in their religion. According to the Web page SIECUS, parents are-and ought to be-the primary sexuality educators of their children. From the moment of birth, children learn about love, touch, and relationships. Infants and toddlers receive sexuality education through example when their parents ta lk to them, dress them, show affection, play with them, and teach them the names of the parts of their bodies ("Sexuality"). Another reason parents want to teach their children about sex education is that they feel it is up to them and no one else to teach their kids ... ...ks Cited Cooper, Carol. "What shall we tell the children?" The Lancet 356 (2008): 780. "Does Sex Education work?" AVERT 18 Nov. . Harris, Wendy. "Schools fail sex ed, new studies say Parents, students want more comprehensive; lessons even as scope of teaching has narrowed." Spokesman Review 27 Sep. 2007: A1. Jordan, Timothy R. "Rural parents' communication with their teen-agers about sexual issues." The Journal of School Health 70 (2008): 338-344 Schemo, Diana J. "Survey Finds Parents Favor More Detailed Sex Education." The New York Times 4 Oct. 2007: A.1 Sexuality Education is the Schools: Issues and Answers." SIECUS Report 27 (2007) Web. 19 Nov. 2008 http://www.siecus.org/pubs/fact/fact/0007.html. Ubell, E. "Sex-education programs that work-and some that don't." Parade Magazine 12 Feb. 2007: 18-20.

Essay --

Lifelong Learning Lifelong learning is the process of gaining knowledge based on an individual’s interest and developing skills throughout the life to improve their life irrespective of traditional educational schooling activities. This long term process influences an individual’s personal development and improves their thinking and thought process thus recreating themselves in a new experience of the positiveness. These learning’s can be of different types ranging from the home education, cultural learning, personal learning, spiritual learning, learning to keep up to date with technologies and local medical sciences education etc. Learning through experiences in life helps an individual to visualize the purpose of life from a new prospective that inspires them to be self-contended. Importance of Lifelong Learning Lifelong learning is important because knowledge is the primary source of value in the world today and ability to expand our mind and thinking out of box is the key to attain success. For example to be successful in your career/field you need to be up-to-date with the information and knowledge available in your field and this needs a lifelong learning. Lifelong learning improves cognitive abilities and positive thinking. For example in India many people give importance to Vedas and Indian literature which also has information on every aspect of life. People learn these through home education, self-interest or in a Vedic school. People who learn Vedas and Indian literature participate in Avadhana (a kind of quiz which tests your cognitive ability). Those who have completed these Avadhana’s successfully are proved to have good cognitive abilities. Indian music and traditional dances (like bharathanatyam, kathak, kuchip... ...also makes me influential. So having a greater knowledge will help me tackle problems and overcome challenges.. This change makes me involve in more other activities and eventually leads me to a successful Engineer. Education brings me a healthy body and mind throughout my life. Finally a career that embraces a program of continuous lifelong learning will ensure that I have a successful career. Because every moment of time, everywhere, under all circumstances something is being added to our previous attainments. My Career will be filled with many proud accomplishments, earning respect from colleagues, friends and a career that is fun and exciting. References: Blog: http://www.questia.com/library/education/higher-and-adult-education/lifelong-learning Paper: http://www.ieeeusa.org/communications/ebooks/files/47skc0ie/Launching-Your-Career-Lifelong-Learning.pdf

Celeron or Pentium II? :: Research Papers

Celeron or Pentium II? The computer industry is flourishing because of the advent of new, powerful processors. Recently, Intel Corp. released its Pentium II-450 MHz chip: the fastest processor on the planet. But because the chip is overpriced, Intel is also marketing the downgraded version of a PII, the inexpensive Celeron-333 which has a 128K cache compared to the PII’s 512K cache. To potential computer buyers, this situation presents a dilemma because they must decide whether to opt for price (i.e. buy the Celeron) or speed (i.e. buy the PII-450). In an attempt to answer this question, Lincoln Spector of PC World and Christopher Yates of PC Week analyze the two chips in their articles entitled "Double Feature" and "Intel Celeron Cache in With New Power," published in October and August of 1998 respectively. In this paper, a rhetorical and discourse analysis will be performed on the two articles to examine the similar and different strategies used by Spector and Yates in presenting their argum ents. The strategies will determine which article is more convincing. Since the articles are present in magazines that pertain to the genre of computer and computer writing, it is first also necessary to analyze the genre. Comparing and contrasting the magazines can obtain an introduction to the way material is presented and organized. The criteria for the analysis include the types of articles present in the magazines. In addition, analyzing the sources of evidence used to support the claims can provide crucial information to the kinds of appeals (i.e. logos, ethos, or pathos) used by the authors writing in the genre of computer writing. Other similar factors such as article length, ads, and the advertisers can also be examined. But the demographic data of the magazines is of utmost importance because it describes the audience and thus, defines the way authors write for their audience. PC World and PC Week have a circulation of 1,125,000 and 305,443 respectively. The former is published monthly and the latter is printed weekly. Eighty-eight percent of the audience of PC World is male and the remainder is female, with ages ranging from 25 to 54 years. Thirteen percent of both magazines' readers are employed by the computer industry, while 59% of PC World's compared to 13% of PC Week's readers work in some sort of management (SRDS 445). Celeron or Pentium II? :: Research Papers Celeron or Pentium II? The computer industry is flourishing because of the advent of new, powerful processors. Recently, Intel Corp. released its Pentium II-450 MHz chip: the fastest processor on the planet. But because the chip is overpriced, Intel is also marketing the downgraded version of a PII, the inexpensive Celeron-333 which has a 128K cache compared to the PII’s 512K cache. To potential computer buyers, this situation presents a dilemma because they must decide whether to opt for price (i.e. buy the Celeron) or speed (i.e. buy the PII-450). In an attempt to answer this question, Lincoln Spector of PC World and Christopher Yates of PC Week analyze the two chips in their articles entitled "Double Feature" and "Intel Celeron Cache in With New Power," published in October and August of 1998 respectively. In this paper, a rhetorical and discourse analysis will be performed on the two articles to examine the similar and different strategies used by Spector and Yates in presenting their argum ents. The strategies will determine which article is more convincing. Since the articles are present in magazines that pertain to the genre of computer and computer writing, it is first also necessary to analyze the genre. Comparing and contrasting the magazines can obtain an introduction to the way material is presented and organized. The criteria for the analysis include the types of articles present in the magazines. In addition, analyzing the sources of evidence used to support the claims can provide crucial information to the kinds of appeals (i.e. logos, ethos, or pathos) used by the authors writing in the genre of computer writing. Other similar factors such as article length, ads, and the advertisers can also be examined. But the demographic data of the magazines is of utmost importance because it describes the audience and thus, defines the way authors write for their audience. PC World and PC Week have a circulation of 1,125,000 and 305,443 respectively. The former is published monthly and the latter is printed weekly. Eighty-eight percent of the audience of PC World is male and the remainder is female, with ages ranging from 25 to 54 years. Thirteen percent of both magazines' readers are employed by the computer industry, while 59% of PC World's compared to 13% of PC Week's readers work in some sort of management (SRDS 445).

Only Yesterday Essay

The â€Å"Roaring Twenties† as they’re called, was the period of ten years in the Untied States, which saw the biggest change in society, the boom in the economy, and later the downfall of the nation. This time in America was a time of economic prosperity for the most part; a great social revolution took place and saw the formation of a modern America. All this is the subject, Only Yesterday: An Informal History of the Nineteen-Twenties, written by Fredrick Lewis Allen. Allen writes a very informative book of what happened throughout this great decade, but from the aspect of an ordinary individual. He writes of the social history of the 1920s, with little to mention of major politics and economics. From presidents to fashion, Allen covers it all. It’s an effective look at people in the 1920s, and what life was like. Only Yesterday begins in May 1919, and ends with a brief look at 1930 and 1931. The book begins out with a prologue more or less, in which Allen writes of a fictitious couple, the Smith’s, in the year 1919. Allen, through this prelude, tells the reader of the accomplishments up until 1919, and what is to come in the coming decade. This 14-page introduction lets reader get an idea of what is to come, within the book. It begins with a look at the wartime economy and slow down from it. The period of the so-called â€Å"Red Scare† is written in detail in this book. Allen writes of the terror during this time, from everything like Attorney-General Mitchell Palmer’s raids on radicals, labor strikes and anarchism, and the intolerance of the early 1920s. The Ku Klux Klan also played a major part in this period. The early 1920s was a great time of mass hysteria, and intolerance for anything â€Å"un-American†. In one such story Allen writes about, how a black boy is stoned to death in a lake by whites on the shore, in the summer of 1919. Even though this existed, the 1920s brought great change. The first radio broadcast was in November 2, 1920. Allen talks about the social times changing during this time as well. Everything from sports to makeup was becoming an obsession, like baseball and tennis for the guys, and bathing suits and makeup for the women. During this time new games such as Mah Jong from China and crossword puzzles, and new songs, all which captured the  American spirit, as well as many other things, which thrilled Americans. As Allen writes, â€Å"A few weeks later there was new national thrill as the news of the finding of the tomb of King Tut-Ankh-Amen, cabled all the way from Egypt, overshadowed the news of Radical trials and the K.K.K.† This new time was the social revolution for the people. Ladies began smoking and drinking in public, skirts became shorter, the use of makeup, and the quest for slenderness began. The twenties was also a time of relaxed spirituality. Many looked at society as more important than religion. Celebrities replaced religion in some cases. The younger gernartion searched for things such as passion and thrills, and were much more open with their sexuality. Charles Lindbergh and his trans-Atlantic flight threw him to stardom. Impressing others became the â€Å"thing to do†, and sexual appeal was big. Also during this time of social revolution, prohibition was in full swing, while the 18th amendment was passed, and did reduce drinking in the country, it wasn’t very effective for a number of reasons. The mob and Al Capone ran â€Å"bootlegging† of alcohol. Racketeering was introduced during this time, many people looking for the get rich quick schemes, brought them into illegal activities such as bootlegging and such. People were just discovering themselves during this time and speak-easies and social clubs became the rage. Women would openly drink and smoke to show their independence. Allen talks of the Harding Presidency and the scandals that surrounded it. The return to normalcy as it was called; he returned the presidency to the people. His scandals, which range from sneaking to secret bars in this time of prohibition, to appointing friends and family to the cabinet, and many others. Allen also writes of the Coolidge presidency and the prosperity along with it. The stock market was in a boom, and the economy pumping. The automobile industry fueled the economy and radios brought the people closer to each other. Under the Coolidge prosperity the â€Å"Big Bull Market† was formed. The stock market grew and grew. The economy grew and couldn’t be stopped, the stocks grew dangerously high, but like all good things, it came to an end. The end of an era came about in 1929 on September 3, after that prices crashed and continued to fall until October 24, when the market began to steady again. Yet, the market fell even more, after that and into 1930  the m arket would be at an all time low. Allen attributes this to a list of seven things ranging from overproduction to the psyche of the American public, all which led to the Great Depression. This is the last thing Allen writes, and he asks the question, â€Å"What was to come in the nineteen-thirties?† With the fall of the market, came the fall of individualism, as Allen writes, â€Å"As the stock prices fell so did the lengths of the dresses†Ã‚ ¦Ã¢â‚¬  These are the things, which defined the decade of the 1920s: oily scandals, non-spirituality, the â€Å"good old days†, and the revolution, which, fell just as soon as was started. The 1920s was nothing like America had seen before. It was returned to the people, people weren’t afraid to speak out, or try something new. What was to come in the 1930s? A new decade, which people needed to survive the depression rather than socialize, and it would dismantle everything, which was made in the 1920s. Only Yesterday, was a very good look at the 1920s. It effectively shows what people went through in this crazy time. This book focuses around the social history of the â€Å"ËÅ"20s, from women’s skirts to the economy of 1929. Allen balances this with the politics of the three presidents, which defined this era. The book is very easy to read, and spares the reader with his simple clear and simplistic style of writing. The book was immensely enjoying, and grabs the attention of the reader immediately. He refers back to the New York Times, on numerous occasions, which seems to be one of his primary sources. He uses many details to back up the stories in which he writes about. While he is not very specific in his writing, he incorporates a lot of information in the book. He told everything from the good, to the bad and even to the ugly, which exposed America’s true sense. Only Yesterday: a great book for anyone looking at the social history of the 1920s: where individuali sm ran wild and â€Å"normalcy† had returned.

Improving the process of target setting

soulfulnessalised larning or else of kids acquiring a one- size-fits-all trainingPersonalised attainment has watch over rough as consequence of a response to an Ofsted Inspection that pointed to the demand to interrupt the subprogram of mark puting for pupils at an whizz degree.I was asked to fly one of 10 countries for this enterprise.The theme I choose for the indicator lamp was an E2E crowd unlike other(a) E2E gatherings in the college who develop their accomplishments on admission to ha firearm these pupils cause both E2E lessons and their chief case which is a flat 1 diploma in Bricklaying, a one class class.My job is this the group I am track overmatching with on this enterprise amaze qualifications below what is needed for our new parchment degree 1 in bricklaying. So we brook brought them in for an excess good afternoon for completion of two makings, Entry to occupation and a building Diploma. This I disembodied spirit is stacking excess put to drop dead on a group which would fight on tho one making, the Diploma. ( Appendix 1 ledger entry for 8/1/09 )I render this group on a Friday good morning for 1 hr of group tutorial followed up with single tutorials. My Individualized eruditeness session follows these.Each pupil depart be prison termtabled for a slot of ab turn up half an hr I receive found that this varies greatly with each pupil roughly(prenominal) assimilate needed 1 hr ( appendix 4 entry for 2/2/09 ) others merely 20 proceedingss. During this session we leave buttocks discourse their concrete appraisal abstractive accounts which they entrust defecate in the workshop and suck the virtues of trot direction and building techniques of constructing these constructions. Upon completion they will so necessitate to critically taproom how they take in done and reviewerlect on what they could make to accomplish a broad(prenominal)er(prenominal) class on their following labor.This is a monument al undertaking for whatever of these pupils as for most pupils interrupting down a undertaking into manageable pieces and so resounding how this could be achieved to a higher criterion is non necessary high on the docket of a 16 twelvemonth grey. During my Sessionss with my scholars I found it interrogatively arduous non to labour over and bounce them excessively much advice this should be their larning twist non mine.I get hold of found guidance pupils to reflect one of the most hard depicted objects for them to acquire their caputs and mine. I have utilise varied methods of observation from theoreticians to uphold in develop their brooding accomplishments every atomic number 42 good as mine. it is non until an unsure rural ara of affairs occurs a individual will believe ab by what it is they are making to do sense of the arouse of affairs Moon ( 1999 )Looked at how reflection is conjugate to larning to include it as a procedure which re structures the way t he head thinks ab proscribed issues to causal agent new larning or to upgrade matureer attainment.Within Vocational instruction and the carrefour in the midst of that of go toing college and that of expression in spite of appearance the work topographic point.Analyse the manner in which your has been put to admither etc ( eg Comparisons between journals/diary/log ( eg Moon ) and analyse between feasible different ship canal of showing the material-written, taped, drawings, maps, pictures ( eg Morgan, Buzan ) etcJournalTheorists over the old ages have defined diaries in different ways. Jennifer Moon has explored how journal authorship has some(prenominal) a(prenominal) a(prenominal) intents and will suffice in galore(postnominal) signifiers. A diary can exhibit a sense of ownership of acquisition, enhances larning by government agency of and through with(predicate) authorship and encourages metacognition. Metacognition is a word that appears many generation. prof Michael Martinez from Department of Education at the University of California says this definition will go more(prenominal) elaborate and complete as our sympathy grows. Many teachers would depict Metacognition, quite a tolerably, as accept about opinion. and I would suggest a more precise definition Metacognition is the monitoring and watch of idea . ( Martinez, 2006 ) Flavell defines metacognition as association and k instantlyledge about anything cognitive or anything mental ( Flavell, 2006 edition ) is this excessively general? Professor Michael Martinez I feel has described this roughly reclaim.The diary entries for this assignment have been employ as a reminder to what has interpreted topographic point over the cash in ones chips term. Although they have non covered every scholar who has participated in this fender program it gives an over stead of some of the troubles which have surfaced and a fewer suggestions should the buffer storage ply the underme ntioned twelvemonth. My slip away on a diary for the scholars to expend bandage working on this wing came in the signifier of a work battalionThe work battalions provide a structured method of supervising promotional material every bit good as assisting scholars to pull off their ain acquisition efficaciously, to raise assurance and to advance their accomplishments through puting ends and SMART marks.Developed accomplishments of puting SMART live up to programsTargets have amaze smarter and scholars have beget more motivated and marks have been achieved.More assurance in discoursing their strengths, accomplishments and individual(prenominal) marks.More successful in run intoing deadlines, organizing themselves and pull offing their ain acquisition.A Over all the pupils have become brooding in what they doResearching modify acquisition helped me understand a comminuted more into what I was really suppositious to develop in this buffer zone it is shown that the oncoming induces constructions on the appraisal jobs and larning objects, some(prenominal)ly, that can die hard as a footing for an economical adaptative appraisal of the scholars accomplishments, and for choosing separate version waies. ( Heller, Steiner, Hockemeyer, & A Albert, January 1 )What is brooding figure of speech? Debate the deflect of theoreticians, eg Dewey, Schon, Kolb, Mezirow, Habermas, Friere, Boud, Keogh etc.. ( Moon and Hillier have good mentions to these ) ( LO 1 )Brooding design in simple footings is larning from have it off, every teacher has done this. There are many different theoreticians who have given their ideas to broody pattern. All have their ain spending on how it should be done.As segment of any breeding making this is now the needed acquisition. You as a instructor will analyze and debate the influence of theoretician and how they whitethorn outdo slip your demands when reflecting on a session you may good dedicate taught that twenty-fou r hours.The likes of Donald Schon who in the 1980s invented the termReflection -in - body process to us, believing on the move this is when you would be reflecting while learning and accommodating you learning to manageable tempers and state of affairss. This is something which has ever been carried out notwithstanding had neer been defined. He thought instructors had in his footings become technicians by this he was mentioning to instructors who carried out the undertaking of learning for administrations to cover instruction jobs which occurred. The teachers themselves had non queried their values to how they taught. Some of his positions ran aboard David Kolb who I feel was one of the chief subscribers to how reflection is now perceived. A few old ages before Donald Schon came up with his theories John Dewey created a theory establish on phoebe bird strands of theory these were adapted by theoreticians Mezirow and Freire who were feeling into how scholars could treat crit ical reflecting, they wondered if acquisition was a signifier of a rhythm which would get down out as an experience growing into reflexion one time reflected upon leads to action and so becomes a concrete experience. The illustration they gave was a instructor has an brush with an angry pupil who failed an test. They labelled this as the experience. The reflection was would be them downking to break and do sense of the experience and equality with other experiences, was it the comparable or was it a new experience.Talking to other instructors who may to a fault confront same state of affairss. This would so take to a class of action would so take to far contemplation.Kolb afterward refined this procedure of contemplation farther by dividing it into two activities, comprehending and treating followed by a concluding mannequin called Abstract expression In the Critical Reflection phase inquiries are asked about the experience in footings of old experiences, in the Abstr act c one timeptualisation phase, we pick up to elapse the replies. We come up with decisions and organize thoughts about experiences learned. From these thoughts came Experiential acquisition rhythmWhich have been adapted by many theoreticians through the old ages? ( The profits TESL Journal, 1997 ) Kolb in my eyes simplified the theories of Schon, Dewey Mezirow and Freire. wherefore I feel Kolb s learning rhythm is use to great design as a larning tool in instructor preparation classs.Stephen Brookfield breaks down contemplation into premises.Paradigmatic premises as the hardest of three to act as out. This relates to facts which we know to be dependable. Brookfield so says it would take a considerable sum of inappropriate grounds and disconfirming experiences to alter them, barely one time changed the effects for our lives are explosive. The other two are prescriptive and causal premisesWhat are the features of a brooding practician? ( discuss checklist eg Hillier ) ( L O 1 )In footings of analyzing the situation/theme you have identified, what a priori account of brooding pattern have you found most serviceable? ( eg Ghaye and Ghaye, Brookfield, Peters, Burgess, etc etcThrough my enquiry it was proven that we as the instructors can merely help in the contemplation procedure, we can merely summate the construction or the stimulation to sharpen the scholar, it is up to learner to pull out their ain experiences and develop their ain ideas on how they may come on or better. The scholar can merely better if the scholar wants to do that attempt.Habermas said that he thought self-reflection needed one component of yourself to be split from the other in such a mode that the question can be in a place to render assistance to itself. ( Habermas )Although this appear a good remark at first, I would happen this peculiarly arduous to transport out, allow entirely a pupil with a naif overture to this construct. How could you divide yourself from the u ndertaking? The thought is to be able to self reflect. A second party is so needed, perchance the instructor would necessitate to step in to ease, is this non what we do?In my sentiment, a more naturalistic and manageable attack would be that of Stephen BrookfieldStephen Brookfield used a procedure known as the four critical reflective lenses. contrasted Habermas this brooding pattern is broken down into four countries all trusting on different state of affairss. Brookfield explains that the four countries areOur car lifes as pupil and instructorsThe instructors flavour at ourselves from the other side of the mirror, linking us to what the pupil would see. This would transport out through personal self- contemplation as Habermas had based his brooding pattern on. Using Personal reflective pattern you will go cognizant of matter-of-fact premises on how we teach. Brookfield so says that self-reflection can a times be less painful than put downing ourselves to the interrogative o f others , this I find really true macrocosm a private case of individual. Once we understand what this all means we can so travel on to the following phase.Our pupils eyes.This I used in my ain instruction idea I could see how pupils had perceived me by associating suffer to myself as an learner and my lector seeking to explicate to me how I had gone wide on a supposed account, learning methods although different so still had the same immature pupils as of today, unsure and needing support. Although this was my reading on what I saw, my pupils had different thoughts acquiring to cognize the pupil is easier than acquiring their opine and trust. Without these two standards it is difficult to acquire any accurate feedback. In mob if pupils look bored or have deep in thought(p) involvement attempt to travel on to a more interesting subject or present a applicative activity Donald Schon describes this as contemplation in action. This has worked for me although non ideal for th is E2E group. Groups such as second or 3rd twelvemonth have fallen into the Brookfield class every bit Brookfield as predicted the longer you work with the group regard and trust can boom.Colleagues Experiences look observations giving feedback have been used during this pilot although non in this peculiar session hardly with this group. The feedback from co-workers ever welcome particularly from person who can give critical contemplation and advice.Theoretical literaturethis can sometimes assist us to gain what we thought were countries of possible bad or vilify instruction, but happen this is non ever the voice it can be down to possible state of affairs that we may hold been put into.Example Not hold the right resources for the occupation or perchance being chosen to learn a topic best suited to person with back land cognition and site experience. This is non to state that with experience this would non come.What are the advantages and defects of these theoretical accounts? ( LO2 )What has your selected theoretical account of brooding pattern enabled you to see and gain? ( eg impact of state of affairs on colleagues/student perceptual experiences ref Brookfield or function of the formalizing organic structure in this state of affairs ref Ghaye and Ghaye, larning that has occurred ( Atkins and Murphy ) ( LO 2,4 )What has aided or hindered your contemplation and brooding pattern? eg your ain personality, characteristics of the purlieu in which you work, mentors/work shadowing/ turned on(p) involvement/ etc.. Moon, King and Kitchener, Boud etc ( LO 3 )The category have struggled with the idea of holding to fling clip reflecting on what they have achieved in their practical Sessionss in the workshop.Development of reflecting has non come easy to many of the scholars. Many of the group happen it difficult to show themselves, every through authorship or literal communicating. The group happen it difficult to stand for more than 20 proceedingss at a clip. So interrupting the Sessionss down to smaller Sessionss meant that we did nt acquire to a sufficient phase to reflect on anything.Barriers to the pilotSome scholars were electronegative to the idea of taking on excess work on top of the E2E and Diploma, although this pilot was non explained to the group as excess work in any manner. I have besides found many of the ply to be in a negative mentality when seeking to discourse the resultant of such a undertaking. This in go has meant I have had to travel to other sections in the college those of which are besides transporting out other countries of the pilot to discourse this.The individualized work battalion developed for this pilot has had many alterations this is due to the practical theoretical accounts and strategy of larning altering about once a term. This so alters the practical theoretical accounts list. The pupils find this off seting and in some instances put the contemplation back a phase or two, as the scholar thinks they are come oning merely to happen the work burden go oning.Foils to the pilotThe foils are at that place to poise out the barriers and there are several co-workers that I have that want to see this pilot win. The caput of School has been behind the pilot and has been a cardinal genius in the backup of this. He has intercommunicate in deepness to different caputs of school to assist happen the resources to help with the reading of this, using the aid of other members of staff in other sections, enabling the group to hold the right schoolroom to work from and to associate both our practical and individualise learning Sessionss.Another foil has been that some scholars have now developed an understanding why contemplation is needed to assist better their result and development.What is the following measurement in footings of the results of your contemplation, ( eg Kolb, Mc Niff sue Research, Schon/your PDP/training )My following measure to developing this is ..What wi ll you make to set the benefits of this contemplation into pattern ( eg course of study devt-Race, Gibbs/ course of study direction Preedy, Levacic, Lumby, /Team building-Handy/ partnership Huxham, Childs/ motive etc etc ( LO 5 )And in footings of your brooding capablenesss ( eg move to mention to theoretical accounts of brooding set/ mentor/critical friends/action research/team meetings/ Moon ( LO 5 )PS usage as many mentions in the reader as possible