Nhs Application Essay

I am interested in running for the position of Secretary of the National Honor Society so that I can assist the President and Vice President in making our school a better place. We, as members of this prestigious group, have the duty to involve Saucon Valley as a whole in order to do community service for the benefit of all. As Secretary, I plan to amp up the school spirit here at Saucon so that every individual student feels included and motivated to better our school and our community.For example, the blood drive that NHS hosts every year can become a schoolwide effort with a little more enthusiasm. In previous years, many underclassmen ignore the blood drive completely because of their age and thus, their inability to donate blood. But if we were to make the event more â€Å"fun† as a whole, we could encourage students to get the word out to their parents, neighbors, or friends to get involved and donate their blood to those who need it.And by â€Å"fun†, I imply dec orations throughout the school, exaggerated morning announcements, offers of food, anything that will get the student body excited to share their blood! On a more serious note, aside from the blood drawing, I would like to say that I greatly represent the four pillars of NHS: Character, scholarship, service, and leadership. I always maintain a positive attitude, even when faced with frustrating tasks.I strive to better myself through education as well, taking my classes seriously and valuing my grades. I also attempt to help others as well as our Community, providing service wherever it is needed. And lastly, I know how to take control of a situation with stern kindness, leading with an efficient and thoughtful mindset. I firmly believe that these abilities qualify me for the position of Secretary. Thank you!

Social class is linked to educational achievement

It has been suggested that societal category is linked to educational accomplishment. The lower the socio-economic position of a household, so it is said, follows a form of low educational accomplishment. Conversely, kids from so called, center and upper category households in general tend to be higher winners academically than their on the job category equals, and are more likely to go to university. Research suggests that kids with parents in extremely paid professions are more likely to obtain higher classs in their GCSEs, take A degrees and so go on onto university than kids with parents in low paid manual employment. Therefore, it could be argued that a kids ability to go socially nomadic remains inactive, as it is likely that they will go on along the way of their parents. ( REFERENCE ) The research undertaken for this undertaking seeks to find if the same applies to maturate pupils either go toing Bath Spa University or maturate alumnuss known to the research workers. The research will try to look into whether or non there is any correlativity between parental societal category and that of the mature pupils and graduates educational accomplishments. The research will besides research the impression of societal mobility and seek to detect if the topics of the survey believe that they have or will, accomplish societal mobility due to their educational accomplishments. The consequences of this survey, if the result is favorable, could perchance assist to promote other mature pupils from lower socio-economic backgrounds into higher instruction. However, if the consequences seem to hold with old research, which argues that lower income households feel that the costs outweigh the benefits of higher instruction, and hence would non see university, so the research may hold an inauspicious affect and merely reenforce the fact that people feel that a university instruction is merely for the wealthy. The consequences of the survey could enable universities to nail jobs mature pupils face, which could enable them to explicate schemes to promote pupils from lower socio-economic backgrounds to use for a topographic point at university. However the consequences could reenforce the generalization or old research which suggests that kids from working category households are less likely to travel to university and hence deter people from even trying to travel through the application procedure. ( mention ) The consequences could besides assist to detect replies to go on the procedure of shuting the spread between societal category and educational accomplishment. However, if the findings suggests the opposite to already published research, eg, if our findings argue that societal category has no bearing on the educational accomplishment of the topics of the survey, so inquiries would necessitate to be asked as to why our survey appears to differ from the norm. ( mention ) Hypothesis. Does societal category affect educational accomplishment? This research will try to set up a nexus between societal category and educational accomplishment. As already stated in the debut, research ( current and historical ) suggests that low socio-economic position constantly leads to low educational accomplishment. The undermentioned research is intended to look into whether this generalized impression is true of the topics who volunteered to be interviewed for this undertaking. The variables to be measured will be that of ; the societal category of the topics parents and the educational accomplishments of the topic. Following on from this the research will besides try to set up whether or non the single topics have, or expect to accomplish, societal mobility due to their educational accomplishments. Literature reappraisal There are many pieces of research which have attempted to reply the inquiry ‘does societal category affect educational accomplishment ‘ . Assorted theories have been introduced as to the grounds why kids from lower societal categories appear to make less good academically than their more advantaged equals and as to why at that place seems to be a big spread in the consumption of university topographic points from people from low socio-economic backgrounds. Connor et Al ( 2001 ) found that there was a continuing and â€Å" long standing form of societal exclusion † of lower category groups in higher instruction. Their research suggests that there are legion factors which lead to the under-representation of the lower categories, including ; household background and support, and fiscal considerations. They besides make the interesting point that over the last 50 old ages statute law has been put in topographic point to guarantee that educational patterned advance is based on ability instead than wealth. However, their research seems to propose that the statute law has non been successful in accomplishing its purposes. Research conducted by Goldthorpe ( 1996 ) agrees with the findings of Connor et Al. goldthorpe provinces that the differences between societal category and educational attainment have changed really small since the beginning of the 1900 ‘s. It is suggested that kids from lower category households have remained more likely to go forth the instruction system once they have finished their compulsory instruction than their more financially advantaged equals. This could be due to the fact that parents with a higher economic position appear in general to put a higher value on instruction than the parents of kids from the lower categories. It has been suggested that the lower categories place more value on vocational and on the occupation developing instead than higher instruction. There has been research such as that by bowles and gintis ( 1976 ) that suggests that instruction is a signifier of ‘cultural reproduction ‘ . They argue that the dominant or higher categories use their power to guarantee ‘social structural reproduction ‘ . Therefore, it is suggested that societal control is maintained by the educational system by working category inequality. In practise schools would non lawfully be allowed to consciously discriminate against kids from lower societal categories. However, there may be unconscious favoritism. For illustration, kids are praised and given inducements such as certifications for stand outing in the schoolroom. Yet the kids more likely to stand out are those from more advantaged households who are able to afford the excess resources such as excursions and books. Following on from this, Goodwin and le expansive ( 1987 ) suggest that those households in greatest demand are non the mark of educational subsidies. They a rgue that province support for instruction by and large merely helps the more financially advantaged households maintain their ability to come in higher instruction. However, although it could be argued that statute law, schools and support are all colored towards households of higher socio-economic position, Gambetta ( 1987 ) suggests that a kids ability to come in higher instruction is all due to their parents. Gambetta found that the picks parents made comparative to their kids ability was based on their perceived societal category. Therefore working category households were less ambitious with respects to their kids instruction than those of higher socio-economic position. As the above research suggests that societal category affects educational accomplishment in kids, it so has to be asked ‘does the same apply to adults? ‘ A study on higher instruction and societal category ( Bolton 2010 ) shows historical informations refering how societal category affected university engagement in the early twentieth century. The information shows that the per centum of entrants with male parents who have a manual business, and hence considered working category, were as follows ; 1928-1947 23 % 1955 25 % 1961 25 % As the authorities have introduced statute law to assist shut the spread between societal category and entryway to higher instruction at that place should perchance be additions in these Numberss in more recent times. However, informations from UCAS shows that in 2001 the Numberss were much the same as those shown supra. In 2001 merely 27 % of entrants were from a working category background. However, the study concluded that ; ‘since the mid 2000 ‘s ; immature people from disadvantaged countries are well more likely to come in higher instruction ‘ ( Bolton 2010 ) . However, a research paper entitled ‘ Social Class and Higher Education ‘ ( Connor et al 2001 ) commissioned by the Department for Education and Skills ( DfES ) suggests that there are many factors every bit good as societal category that affect possible pupils determinations to come in into higher instruction. The research workers province that ; â€Å" pupils from lower societal category backgrounds take into history a wider scope of issues than their opposite numbers in higher societal category groups when taking the determination to come in higher instruction † . The countries of concern for those from a working category background included the fiscal facet, nevertheless, they besides raised issues such as experiencing unable to get by with the work load, the application procedure and personal issues such as working during term clip and besides set uping child care. However, the chief issue does look to be that of a fiscal nature. Those from the lower classed either would instead get down paid employment every bit shortly as possible after go forthing mandatory instruction or they feel that the cost of analyzing at university outweighs the benefits. Despite the chief findings of this study being reasonably negative towards higher edication by the lower categories there were some positive facets. The participants of the survey from the lower categories who had decided to come in university did so with the belief that the makings that they would finally derive would intend that their calling preospects and future gaining possible were raised well. The little graduated table research undertaking which follows is slackly based on old research into societal category and higher instruction. If the published research is right so we should happen that societal category does in fact affect educational accomplishments in grownups. If our research corresponds with others, so we should happen that merely about 25 % of our participants who are from working category backgrounds have entered into higher instruction. Methodology. The focal point of this survey was to find whether or non socio-economic position had any impact on educational accomplishment. A series of inquiries were devised to be delivered in either a face to confront interview or by manner of an electronic mail questionnaire, depending on which was more practical, due to distance and clip restraints. Those topics who were asked to answer via electronic mail were asked to react in every bit much item as possible instead than merely yes or no replies. The purpose of the inquiries asked was to find the effects of the topics parents societal category and educational accomplishment on that of their kids. The initial inquiries asked were general inquiries to find the age, sex and location of the interviewee. This was followed by a set of inquiries to set up parental educational accomplishment and societal category. The inquiries besides attempted to set up whether or non their parents attitude towards instruction had any impact on the topics educational picks. The concluding set of inquiries sought to detect the educational accomplishments of the topic and their current or future socio-economic position. aˆÂ ¦aˆÂ ¦aˆÂ ¦aˆÂ ¦.of the topics are undergraduates and aˆÂ ¦aˆÂ ¦aˆÂ ¦aˆÂ ¦ aˆÂ ¦aˆÂ ¦aˆÂ ¦aˆÂ ¦of the questionnaires were completed by manner of face to confront interviews. Another aˆÂ ¦aˆÂ ¦aˆÂ ¦aˆÂ ¦aˆÂ ¦.were conducted via electronic mail questionnaire. The interviews and questionnaires took about 10 proceedingss to finish. All of the persons who were asked to react did so. The determination to utilize interviews and questionnaires was taken because we felt that we could acquire a more unequivocal reply to our hypothesis this manner instead than a simple questionnaire that merely needed yes and no replies. However, there are restrictions when utilizing this method for research. Some of the inquiries which were asked were unfastened to sentiment and besides self-perception. Some of the information was besides 2nd manus as we had asked for information about parents. Once once more, this may non be entirely dependable as the topics were non asked for unequivocal cogent evidence of either their parents, or their ain educational accomplishment or societal position. Therefore, the research is based on the premise that the topics were true in the answering of the inquiries. There are other restrictions. The research was really little graduated table and therefore it could be argued that the sample of topics is non representative of the general population of under alumnuss and alumnuss in the United Kingdom. However, as a usher it could take to similar inquiries being asked on a larger graduated table to enable the theory that societal category does or does non hold an consequence on educational accomplishment, depending on the findings of this research, to be proved or disproved. With respects to the ethical considerations of this research, those who participated were ensured namelessness at all times. No names have been used in the write up of the research and merely the general location and age of the particiants have been documented. All participants were made aware of the grounds for the research and how the information they gave would be used. They were besides informed that a transcript of the finished research undertaking would be made available to them for their blessing, if they so requested, before it would be handed into the university. They were besides made aware that they could retreat their part at any clip before the entry day of the month.Findingss and decisionThe chief intent of our research undertaking was to find whether or non a on the job category background created a barrier to higher instruction for grownups in the same manner as antecedently mentioned research suggests it has on kids. The research argues that kids of mandatory school age are at a disadvantage educationally if they are from low income households and we wanted to look into as to whether or non this translated into maturity. Our findings seem to propose that low socio economic position does non restrict the opportunities of grownups come ining into higher instruction. Seven out of the 12 subjects interviewed categorised themselves as coming from a working category background and six of them had either gained grades or were analyzing for a grade at the present clip. This translates to about 86 % of people from lower category background come ining into higher instruction, whereas old research has stated that the norm is about 25 % . However the contradiction is likely due to the little graduated table of the undertaking which was undertaken. The other five participants considered themselves to be from a in-between category background and all five had enetered into higher instruction. Therefore, our little graduated table research undertaking seems to propose that there is no disadvantage in a individuals ability to derive makings from university or other higher instruction constitutions based soley on their on the job category background. It could be said that it is an persons ain motive and aspirations, or deficiency of both, that has the most impact on their educational accomplishment, instead than their on the job category background. One of the topics interviewed declared that her parents had ; â€Å" influenced me to travel out and accomplish what I want careless of category, money or background † . Bing at university as a mature pupil I felt that the result of our research would in fact find that category did non find educational accomplishment. However, it is a really little graduated table undertaking and could non be perceived to be dependable informations which reflects the educational accomplishments based on category for the state as a whole. The information could be seen as colored and undependable as eleven out the 12 subjects interviewed had been, or were presently at, university. Those interviewed were besides known to the research workers. If there had been a wholly random sample of topics from a shopping promenade for illustration at that place would hold perchance been a really different result. I feel that to do the research valid and dependable it would necessitate to be done on a much larger graduated table. The topics interviewed should be selected at random throughout the united land to enable a broad assortment of people and therefore a varied choice of repli es, which would perchance in bend produce more valid and dependable informations which would more likely correspond to old research in the same field.

Analysis for the article The touch screen generation Essay

Analysis for the article The touch screen generation - Essay Example She also analyzes the changing mindset of parents at the new development, who instead being skeptical, have chosen to promote their children to adept themselves to digital technology (Rosin, 2013). The article starts with the author’s visit to a digital media conference of the children game developers in California. It is clear from the opening dialogue that the app developers’ clientele are babies, which is a cause of concern to the author (Rosin, 2013). Rosin cites American Academy of Pediatrics concern over the excessive exposure of electronic media on the growing children (Rosin, 2013). The author interacts with parents to know their views on the interactive media technology. A parent who is a teacher tells her that she has proscribed rules for game playing for her children. She has fixed â€Å"no screen time,† (Rosin, 2013). The fixing of game playing times has caused her to ask many others about ground rules of playing e-games. The most shocking revelation was that the parents were willing to give not more than â€Å"half an hour a day,† (Rosin, 2013). Thus, parents seem to be worried about the effects of the new age technology (Rosin, 2013). The term â€Å"digital natives† (Rosin, 2013) coined by Marc Prensky is discussed in the context of new developments such as iPads and touch screen technological devices (Rosin, 2013). The devices have now been seen in the hands of toddlers as means to â€Å"mollify, pacify or otherwise entertain them,† (Rosin, 2013). Jane Healy has gone to the extent of calling this situation a â€Å"zombie effect,† (Rosin, 2013). However, the researchers such as Kirokorian from University of Wisconsin at Madison, are dismissive of the alarm raised. Now the experts say children have become so adapted to the medium that at the age of two children become â€Å"very cognitively active,† (Rosin, 2013). The other way of looking at this development may be that digital technology is furthering

Summary Essay Example | Topics and Well Written Essays - 1250 words - 1

Summary - Essay Example that Ronald Regan did not formulate the drug law with the intention of saving the American society but with the intention of making his leadership popular. From the interview, it is evident that the new drug law simply focuses much on fishing out African-Americans and taking them to prison since the notion that most police departments have is that individuals from this race are potential criminals. As a result, the drug law, as Michelle asserts, is simply a replica of the Jim Crow System, which ensures mass African-Americans incarceration. Certainly, the evidences provided by Michelle are backed up by most of the incoming callers who also agree that the drug law is just but another form of Jim Crow System (On-Point with Tom Ashbrook). Generally, the drug law has resulted to some innocent individuals being taken to jail for drug offences, thereby their rights being violated. Since most U.S. police departments are keener on the way African-Americans carry out themselves than other races, a higher percentage of prisoners in most jails are African-Americans. Therefore, there is clear evidence that racial discrimination against African American still exists, and there is enough evidence depicted when an explanation of what feels like to be a young African-American in the U.S. is described; African-Americans are always viewed as potential criminals. In this On-Point Radio discussion, Tom Ashbrook interviews two guests; David K. Randall (a professor at New York University) and Rosalind Cartwright (a professor at Rush University). The discussion focuses much on Randall’s book â€Å"Dreamland: Adventures in the Strange Science of Sleep.† Generally, what inspired Randall to write this book was the fact that he used to sleepwalk. Therefore, after visiting several doctors with few positive results, he decided to carry out research on sleep in humans. According to Randall, his main focus was to recognize whatever takes place when an individual is asleep. In addition,

Location analysis and group work daily Essay Example | Topics and Well Written Essays - 1000 words

Location analysis and group work daily - Essay Example The other advantage is that in terms of flow of traffic within the site, this has made it possible to maintain its market appeal to the customers (Blackaby, 2009). As a group, we performed relatively well. Several issues came up in the course of the meeting and it affected the way in which we completed the task. The lecturer required that we form our own groups that we would all be comfortable working with. This we did, and it was convenient to us because we had similar background in terms of the course we studied at the university and this made us to cope well. In addition, we had worked previously together in group work for other subjects that we studied together. In the course of the group work, several issues manifested themselves as we worked together. Time management was not accomplished well because some group members lived far away from the university and therefore, the time that we had agreed on was at no particular adhered to and we obviously had to accommodate all group members in order to work as a team. Conflict in the process of group work was a big issue that arose. At times, the participants in the group openly attacked each other and this at one point brought the discussion to a halt for some time. The way the group members stated some major points during the discussion brought out both the negative and positive criticism. Despite all these challenges, we were finally able to complete the assignment on time. What I would change to the process. For the group members who were not living within the university, I would ensure that we set the time that is convenient to them and comfortable to us as a team. I would convince other group members to agree on a time limit in which the discussion would take. For instance, one hour for each meeting scheduled to take place so as to allow the affected persons to attend and leave the meeting at their own pleasure. In the issue of conflict, I as the group leader would ensure that if there were any disagreements, they would be constructive and not directed to any particular person. I would also ensure that there was room for free expression of thoughts while coordinating the group and encourage criticism (Hansen, et al 2002). How to improve performance as a group. I as the group leader would manage the group well for it to work effectively. I would ensure that the set aims and objectives of the group work are incorporated from each and every member. For example, all participants in the group would make contributions in the setting of aims and objectives. This would help each individual develop personally .The group would also benefit as a whole. Other benefits would be to that the participants would learn academically. We would also ensure that the responsibilities that we adapt help us to achieve the desired success together. My individual role and contribution. My group members

Economic evaluation as a perspective in evaluating health program Term Paper

Economic evaluation as a perspective in evaluating health program - Term Paper Example In addition, the cost of health care is assuming a larger role in clinical policymaking. Even wealthy nations, squeezed between the Scylla of exponential technology growth and the Charybdis of shrinking health care resources must make hard choices about which technologies they can afford (Gold et al, 2007). Economic evaluation is a methodology that is being used increasingly to help clinicians and policymakers think about these hard choices. Economic evaluation is the â€Å"comparative analysis of alternative courses of action in terms of both their costs and consequences† (Drummond et al, 2005). When measuring the effects of health programs on both resource consumption and health, economic evaluation allows us to see how much health care â€Å"bang† we are getting for our â€Å"buck.† Over the last 20 years the number of published CEAs has grown exponentially, particularly in clinical journals. Insurers, health maintenance organizations (HMOs), and regional and national governments are showing an increasing interest in the results of CEAs, particularly in the area of pharmaceuticals. Economic evaluation has matured as a scientific discipline. In this brief review we discuss some of the characteristics and uses of economic evaluation and provide direction for those who wish to learn more. Full economic evaluations are always comparative. No treatment is ever â€Å"cost-effective† in isolation. It is always more or less so in relation to some other treatment, even if the alternate treatment is to â€Å"do nothing.† Even doing nothing has health and cost consequences that must be considered (Ketley, 2009). What programs should be compared? In their work on the subject, Zweifel and his colleagues (2009) states that economic evaluation ideally includes all potential and mutually exclusive programs for a defined population. Thus an ideal economic evaluation of colorectal cancer

MANAGEMENT IN THE REAL ESTATE SECTOR Essay Example | Topics and Well Written Essays - 4000 words

MANAGEMENT IN THE REAL ESTATE SECTOR - Essay Example It means that a drop in number of clients that the real estate company serves would translate into low income. Success in this industry depends on the number of clients a real estate company has been able to serve. Communication opens avenues for transacting new deals in real estate industry (Crane, 2007: 45). Arguably, managers in real estate industry provide satisfactory information about the services their offer to their prospective clients. Many clients believe that level of contact is a factor that assures them about a company’s interest to their needs. The need to address issues affecting clients’ satisfaction can only occur when real estate managers have developed an avenue, which allows the flow of information from clients to management. Managers must be able to identify preferences of their clients. Managers should develop templates, which can assist their clients to identify the products that real estate industry offers to them. Service delivery assures many c lients that management considers their needs. Many clients in the industry would project their demands to the company. The response that the company takes in responding to the needs of the clients indicates the level of satisfaction the clients are likely to get. Quality of service in this industry influences perception of many clients. Managers must ensure that product quality is satisfying the demand of the client. It means that managers must develop strategic approaches, which will enable them to respond to concern of their clients. Developing products, which respond to the demand of clients, is an indication that managers have been able to respond to needs of their clients. 2. Examine the ways in which stakeholder expectations might present challenges for managers in a commercial real estate advisory firm. Stakeholders concern is to realize proceed out of the money they invested in real estate. This expectation posits many challenges to management because of complexities involve d in the real estate business. Factors such as flow of money in the market influence the purchasing power of clients. It means that real estate industry expect to face fluctuation in demand for real estate products. Stakeholders might lose their patience during low money flow in the market because it reduces purchasing power of real estate products, which subsequently translates into the income of the company. Economics of purchases verses rental influence the performance of real estate enterprises (Crane, 2007:87). People weigh values they are likely to gain from purchasing a house or renting a house. Managers in real estate have no direct influence of individual needs. On the contrary, stakeholders might to fail to understand the economics in this market because they expect to see proceeds of the company. Sometimes managers might decide to speculate anticipating a fall in demand for rentals. Stakeholders might not understand the speculation approaches adopted by managers because t hey feel the company should be earning proceeds out of the investments. Investments in real estate do not translate into profit suddenly as many stakeholders may expect. Stakeholders expect to start earning dividends from their investment after some period. The construction period in real estate does not translate into profit because the industry is still spending instead of gaining. Managers should be able to highlight complexities in real estate to their stakeholders. Perception of society as shaped by

Prometheus Bound Essay Example | Topics and Well Written Essays - 1250 words

Prometheus Bound - Essay Example As a punishment for this rebellion, the powerful Zeus commanded Hephaestus, the blacksmith of the gods, to bind Prometheus deep in a gorge, in a mountain. Accompanying Hephaestus in this god-given mandate were Kratos and Bia, representing Power and force respectively. After Prometheus is chained in the gorge, he laments about the excessive punishment that Zeus has commanded for him. The Oceanids, the daughters of the Oceanus, the sea God, arrives and start consoling Prometheus. Shortly, Oceanus arrives and offers to go to Zeus to plead with him so as to forgive Prometheus for the rebellion. But Prometheus warned Oceanus that such an action would make Zeus wrath to turn to him, Oceanus. Towards the end of the play, Zeus strikes Prometheus with terrible sufferings, organ devouring eagle that perpetually devours his regenerating liver. In this play, Prometheus is the personification of reason and justice/truth; Prometheus defies the unjust mistreatment of human beings and fights for the common good of human beings. In the process he is cruelly punished by the cruel and tyrannical Zeus. In the face of the power of Zeus, Prometheus is utterly powerless. This fact shows that in the face of tyrannical power, reason is helpless. But despite the cruel punishment, Prometheus did not give up, but continued fighting for the good of human beings. In this play, language is used skilfully to develop the theme of the play. To begin with, in asking Hephaestus to execute his god given mandate to bind Prometheus, Kratos describes Prometheus as a malefactor. As a faithful servant of Zeus, Kratos used this strong term to show the seriousness of Prometheus crime; according to Zeus, Prometheus crime was a very serious crime. Kratos also describes Prometheus as a traitor, this also emphasises the seriousness of Prometheus crime according to the god Zeus. In describing his sufferings after he was bound to the gorge,

Personal statement for applying graduate school in MS in Information

For applying graduate school in MS in Information system - Personal Statement Example They have raised their kids with strong perseverance. Like them, I am also very hard working, and intend to train myself in various skills, like leadership, communication, management, and organization. I have always been a very good student getting positions and certificates. My teachers and professors always considered me a student worthy of reward. I feel that I have enough knowledge and passion to show that I have a craze about going ahead in the information systems, and contribute to the tech market. To maintain my interest, I keep myself updated with market requirements. I have always thought about bringing my knowledge into use that I gained during my college. I keep on reading related journals, books and magazines, and attend related seminars held in my vicinity. I feel that I possess those special skills needed to fulfill the requirements for this course. I have always come up fresh, innovative and unique ideas. I have learnt basic computer knowledge so as to equip myself wit h the latest technology that may help me in excelling in this course. For example, I am proficient in Microsoft Access, Excel, PowerPoint, HTML, CSS, Python and JES. This enthusiasm is what pulls me to take do MSIS. I would also like to discuss my educational background, experience and personal interests. I completed Bachelor of Science in Business from the Indiana University, Kelley School of Business, Bloomington, IN, in December 2013, with GPA 2.92/4.00. I took Finance as my major, and have remained a member of national society of collegiate scholars. I have also worked in the Food Service Department in Gresham Food Count-Bloomington, IN, in 2012. That was an overwhelming experience for me as I learnt how to be practical in life. I have also served as a tutor in Ouhai middle school, Wenzhou, Zhejiang in 2009. I have also a passion for sports. I have remained a great basketball player in Ouhai middle school basketball match from September 2009 to

Molly Dinton Essay Example for Free

Molly Dinton Essay I dont know where documentary is going, but at the moment it is fast becoming a soap opera in order to keep its place in the schedules Molly Dinton. Dinton believes that the documentary genre is changing in order to survive. This evolution of the genre could be justified, and enables the diverse genre to still be able to attain fixtures on the British television broadcasting stations. The statement of the documentary fast becoming a soap opera, can to some extent be supported. Currently on British television, there has been a swarm of reality TV programmes and Docu- soaps, which can be seen as a polluted hybrid of the documentary genre. These programmes are noted as successful in attracting an audience, therefore, the TV institutions are more likely to exploit these wining formulas of the genre and schedule the newer, more popular American format of documentary rather than the traditional documentary formula that aims to construct a social criticism and catalyse change, which often has a stigma of smelling of dust and boredom (Alberto Cavalcanti). Institutions are able to have a minimal risk of financial failure with docu- soaps and reality TV programmes, because as well having a high rating of audience consumption, the programmes are financially very cheap to produce. This is because the hybrid forms do not generally have professional actors but consist of real people. Also the programmes are often filmed in cheap locations over a relatively short period of time compared with Nick Broomfields Aileen- The Life and Death of a Serial Killer. In this recent documentary (2003) Broomfield worked in America for multiple months, which would have been extremely costly. Paul Hanmann, head of BBC Documentary features, says that a reality programme is three times cheaper as comparable light entertainment. Or take for example, Martin Bashirs The Michael Jackson Story, where by Bashir followed Michael Jackson from country to country over a period of a year, making a very costly production for ITV. In this investigative documentary, it too can also be noted as conforming to the new soap opera style of documentary, as Bashir chose to present to the nation the version that sensationalised the Jackson story in a negative light creating a spin off of conversation for a duration after. Bashir, like a soap opera director, chose to present the narrative version of the documentary that would create the most dramatic effect or shock for the audience. TV executives are more keen on scheduling the popular forms of the documentary genre and make the values of the programme centre on entertainment, as they feel entertainment is more appealing to the audience than a documentary that exits on a moral and ethical dimension. The intertextuality of the Docu- Soaps such as Vet School, The Cruise and Driving school, attract huge viewing ratings. For example Driving school had a 12. 5 million audience. The Docu- soap resembles the conventional fly on the wall antecedents, but like a Soap Opera, the genre prioritises audience entertainment over social commentary, and focuses on characters and their personalities, rather than on their social roles or professions. Characters are picked for their personalities, to ensure interesting viewing and strike a parallel with the Soap Operas, in that the characters are known on a first name basis to build up a relationship between audience and screen characters. Likewise, the episodes are strongly based on the drive of the narrative structure, to make more entertaining, simplistic and more story- like for the audience to follow and enjoy. Yet another demonstration of documentaries becoming a soap opera is with channel 4s Thatll teach them. In this series, teenagers of today were seemingly sent back in time to be educated in the 1950s. The programme is then followed up, several months later with, That taught em, making the series like a soap opera because the channel are adding to the original narrative, in order to get a greater knowledge of the teenagers. Reality TV combines the commercial success of tabloid content with a public service mode of address. The genre includes The Salon, Big Brother, Police Camera Action and Wife Swap, which are all hugely popular. Big Brother had a staggering 45, 000 people audition to be on the programme. These programmes are essentially very alike in comparison to Soap Operas. Often in reality TV, contrasting personalities are deliberately selected or an arisen conflict sensationalised; also many of the programmes are edited in order to capture comedy moments. Moreover in the Docu- Soap Driving School, there is evidence to suggest that many of the sequences, or body language/ facial expressions in the programme were faked in order to create further dramatic effect. Through sensationalising episodes, these programmes are able to compete with the story lines of many soaps, and attract viewers who enjoy much of the dramatisation that occurs in the soap operas. It also serves to entertain the audience. Reality TV is very much like many soaps. This is achieved by using editing. The Directors are able to create a persona or character of the participants, that the audience will either love or loathe, through selecting which footage to air and which to discard. With CCTV footage in Police Camera Action and 24/7 actuality footage of the constructed documentary, Big Brother, the audience is able to involve themselves in dramatic irony and acquire a greater knowledge of the characters and their situations, like we are also able to do through watching soaps. As McCann states it often turns us into Peeping Toms, which obviously appeals to a sector of society. There is however, evidence to suggest that many documentaries, which adopt the objective of catalysing change in the law or the dominant ideology and use film verite, are also still scheduled on British TV. For example, during November of each year, war documentaries will be broadcasted for Remembrance Day, and in the month of August, documentaries on Princess Diana and her death will be documented, to heighten the audiences level of awareness surrounding her suspicious death. These documentaries try to offer several new pieces of information discovered that are based on fact and not fiction. Experts, eyewitnesses, and official civil servants provide the evidence for the programme, giving it credibility. The documentary serves to criticise, the way in which the investigation was run, but also to cause the audience to change their previously held opinion on the subject, and to take on and believe the message given by the text. Occasionally other documentaries by famous documentarians are scheduled, such as Nick Broomfields Biggie and Tupac, (channel 4 2003), where Broomfield exposes the maze of obstacles and corruption complicating the investigation of the unsolved murders of the rap stars. Also, it is evident that many nature documentaries are shown on channel five, but not at peak times, which docu- soaps and reality TV are aired. In addition to this there is evidence to suggest that not all documentaries have to become soap operas in order to keep its place in the soap operas. This point can be clearly illustrated with the co- production by the BBC and Discovery Channel in their creation of Walking with Dinosaurs. The documentary achieved huge success and was stated as being the biggest thing on TV in 160 million years. With the aid of computer graphics, the programme portrayed to the audience at peak times of scheduling, a factual account of how dinosaurs lived, adapted into the different time periods, and eventually became extinct. There are also niche channels on Digital or Sky channels, such as Discovery, History, and the Learning channel, all of which schedule films solely from the documentary genre. These channels have high ratings and status, but are not available to everyone. In conclusion, I feel that Molly Dinton was justified in stating that the documentary is fast becoming a soap opera in order to keep its place in the schedules. This is mainly because the mass audience prefer docu- soaps and reality TV, which are closely related to soap operas. This is because these factions of the documentary genre entertain, and cause diversion and escapism for the audience, who are easily able to relax in their leisure time and watch the light- entertainment programmes. They are not presented with a programme that requires the mind to work too hard after a draining day. The broadcasting institutions generally broadcast, what is demanded from the public and what is financially better for their business, making the way clear for further reality shows that resemble the soaps to be produced. Perhaps the film verite documentaries are not as popular as the hybrid genres because in general they require a higher intellect/ socio- economic group to follow the programme or be interested in the issues investigated. This form of documentary perhaps has outlived its usefulness and no longer has a very clear significance. The vast docu- soaps and reality television programmes are scheduled at peak times, because they appeal to a wider audience where as the occasional documentary is scheduled mainly in the late eve. Therefore it is true that documentaries are fast becoming soap operas in order to survive.

Financial performance of microfinance institutions

Financial performance of microfinance institutions Financial Performance of Microfinance Institutions Abstract The paper investigates the financial attractiveness of microfinance institutions (MFIs). With the use of CAMEL methodology is the performance of MFIs analyzed. A comparison with G10 commercial banks shows†¦. Secondly, the systematic risk factors of MFIs are identified. The study * VU University Amsterdam, Faculty of Economics and Business Administration, De Boelelaan 1105, 1081 HV Amsterdam Comments are welcome at: [emailprotected] Introduction This paper investigates the financial performance of microfinance institutions (MFIs) from the perspective of a foreign investor. Microfinance institutions offer a broad amount of financial products and services to people who lack access to traditional banking services, also called; ‘the unbankable. Starting from social driven performance measures, the microfinance industry has been arguably effective in reducing poverty worldwide. In the last decades the microfinance industry has developed into an alternative investment class. The sector is characterized by attractive returns, low default rates and an explosive growth. Nevertheless, there is only a small scientific basis about the promises microfinance offers as a financial investment class. The financial attractiveness of MFIs for investors is questioned within this paper. Through analyzing the performance of MFI with CAMEL ratings and identifying the systematic risk factors, enriches this paper the academic field of finance. The study starts from the findings of Krauss Walter (2008). Their empirical results show that MFIs have a low or non exposure with international commercial markets from developed nations. Microfinance investments are for investors thus useful for portfolio diversification. Besides the social benefit that social oriented investors gain, the question arises what is the potential financial gain for a foreign investor? Nonacademic sources present microfinance as a interesting alternative investment class for solely return oriented investors. Institutions as the Consultative Group to Assists the Poor (CGAP) are reporting profits twice as high as their local peers and returns on investments in some parts of the world between 117 and 847 percent (Little field Holtman, 2005). Gonzales Rosenberg (2006) presented evidence of MFIs that outperform commercial banks on the return on assets. The returns are combined with a repayment rate of loans of almost 100 percent. Group liability repayment systems realize the low default rates. The repayment schemes are typical for the microfinance industry since clients lack collateral for the provided loans. The numbers indicate a save investment with a high return for investors. Nevertheless, investors seem to be skeptic about investing in MFIs. As Krauss Walter (2008, p.6) righteously mention: â€Å" Investors appear to perceive microfinance as excessively risky relative to the returns it generates, partially due to a lack of viable foreign exchange hedges, absence of a solid track record, poor reporting standards, heterogeneous products and inadequate liquidity.† The Microfinance Exchange (MIX) tracks the performance of MFIs since 1998. The MIX is a platform which gathers and publishes financial and communal oriented (outreach) numbers of MFIs. The institutions deliver the data voluntary to the MIX. Of the approximately 10.000 MFIs worldwide, only a small percentage (around 8 percent) send reports to independent platforms as the Microfinance Exchange. The incentive to offer data is to attract more funds from investors (Hartarska Nadolnuak, 2008). The attraction of more funds leads to a higher amount of accessible capital for the low-income clients. A high return on investment is promised by MFIs to investors. In combination with the support to poor people, seems microfinance to be the commercial solution for worldwide poverty. In practice, this promise is only rarely fulfilled by the institutions, due to the high operating cost per client and the lack of knowledge and transparency within the institutions. Academic research is necessary to cl assify the sources of growth in microfinance institutions, thereby establishing a valid basis to assess the performance and risk of MFIs. The paper aims to increase the transparency and rationale behind the data of microfinance. Transparency is increased by presenting measures of performance of the institutions in relation with their domestic environment. MFIs are considered as emerging banks in developing countries. A comparison with commercial banks using adjusted performance methods is used as a starting point. Identifying the systematic risk factors within the domestic environment results in a valid basis to assess the performance of MFIs. The financial statements of the MFIs are downloaded from the MIX website. A drawback in microfinance related research is the low quality of the data. Although the MIX offers the best available set of data and puts serious efforts to increase the quality is the dataset relative young. The dataset contains annual data and is subject to subjectivity due to the voluntary basis and a lack of legislation and authorization in the nations were MFIs are effective. To deal with the low quality of the data this paper first checks till which extent the data makes sense. CAMEL ratings as an efficiency parameter are used SYSTAMTIC RISK The rest of the paper is organized as follows: section 1 reviews the literature of the microfinance industry and the recent developments. Section 2 describes the bank performance methodologies to assess the performance of banks. Section 3 describes a comparison of banking ratios between commercial banks and MFIs. Section 4 discusses the results on the performance drivers of MFIs as a result of the systematic risk of emerging nations. Section 5 concludes the paper with a discussion of the main findings found in this paper The Microfinance Promise The success of the book ‘Creating a world without poverty of Muhammed Yunus (founder of the Grameen bank in 1970 Nobel Prize Winner for the Peace in 2006), increased the awareness and popularity in microfinance. Microfinance refers to the financial products as savings, insurance, transfer services, microcredit loans and other products targeted at low-income clients. From origin is microcredit the key product of MFIs. Loans are used to develop local economies to banish poverty from the low-income communities. The difference between traditional banking and microfinance is the level of creditworthiness of clients. Low-income clients in microfinance lack collateral, structural employment and/or a verifiable credit history almost by definition. This disables them to meet the minimum creditworthiness requirements to gain access to traditional finance products and services. Microfinance clients are therefore often referred as: ‘the unbankable. The lending activities of MFIs are characterized as follows: 1) loans are solely available to members of the MFI; 2) loans are relatively small and generally unsecured; 3) assets and liabilities of the MFI are owned jointly by the members (the clients are the owners), 4) internal monitoring and social sanctions (group liability) are used to enforce the loan contracts (Skees Barnet, 2006). Microfinance institutions thus use group lending methods to guarantee repayment of the financial services which is a substitute for the lack of collateral. This innovative and reversed perspective on banking enables MFIs to provide financial support to the poorest people of the world. This considers 1 billion people worldwide or a potential of 1 billion clients. Reducing poverty worldwide is incorporated in the G8 millennium development goals. Microfinance is considered to be a proven way to realize this millennium goal. Judged against the profit maximization ideology of commercial banks in developed countries have MFIs a dual mis sion; reducing poverty worldwide while being financial sustainable (Drake Rhyne, 2002). The success of microfinance increased the interest of developed nations and the mainstream finance industry. Commercial organizations support initiatives in microfinance as an act of corporate social responsibility. For investors and financials is microfinance attractive for its low correlation with commercial markets. Real life examples are the diversification possibilities that pension and insurance funds find in microfinance (Krauss Walter, 2008). The balance between social and financial returns was studied by the Consultative Group to Assist the Poor (CGAP) in February 2008. The CGAP identifies a stream of private investors investing in microfinance with no particular interest in the social objective of MFIs since 2006. The entry of private investors in microfinance is seen as one the most important development since institutional investors noticed microfinance in the beginning of 2000. Before this period mainly governments, NGOs and charity funds invested and supported MFIs. In 2006 seventeen billion dollar of loans represented 10% of the potential microfinance market (Swanson, 2007). The money market return in that year was 5.8% in dollars and 3.2% in euros (Reille Foster, 2008). Although multiple sources report extreme returns on equity in microfinance, is investing in microfinance far from riskless. MicroPlace is the first online platform to trade in MFIs developed by Ebay. The average yield on a investment is 3% which matures in 3 years. In order to realize high net return on equity should organizations keep the operational cost low. Especially in the case of MFIs are operating cost high. Still lack of control and transparency makes investing in MFIs risky. Difficulty to comply with regulation standards, if any regulation framework is available MFIs act like banks, by collecting any in developed nations and from local communities and invest them in the area. Criticism is about the lack of transparency and knowledge in the sector. Databases consist of low quality accounting numbers and the absence of legislation, authorization in emerging economies aInsights in this industry will thus not only benefit the poor of the world, but also investors of the world as well as the lessons for the financial systems worldwide. The promise that microfinance offers is a reduction of poverty worldwide, with without any means of charity or subsidy (Cull, Demirguà §-Kunt Morduch, 2007). The poverty line is defined as having less than 2 dollar to spend on a daily basis. Group liability schemes are the response of MFIs to avoid the lack of traceable credibility and liquidity of clients. The group structure of loan repayment proves to secure high rates of repayment. Even with the lack of collateral or means of liquidity of the clients (Cull, Demirguà §-Kunt Morduch, 2007). The backside of this concept is that the industry is characterized by a high amount of transactional and operational cost due to monitoring cost. Also the high geographical distances and spread of clients, without technology standards or infrastructure to bridge these distance, increases the operational costs. A stereotype client of an MFI would be a woman (approximately 97% of all microfinance clients are woman), with a low level or non education. The idea that most clients are entrepreneurs is a biased view. Since microfinance believes in the strength and flexibility of people new entrepreneurial business arise, but everyone with a spendable income of less than 2 dollar a day, could be a client of an MFI. Grootte markt Although the loans and services provided are relative low is the amount of clients enormous. Ownership and governance (Call for legislation and authorization) Technology influences (Mobile phones) Microfinance for investors (brug naar bank performance en systematic risk) Portfolio diversification Return oriented (non academic article) not more than a T bill) Null hypothesis 3: MFIs dont generate excess returns more over equity indices. How to sustain credibility High fixed cost to monitor clients No collateral as a backup in case of default, so MFIs have to define risk management methods in order to control potential default rates. Bank performance From NGO to Commercial bank Null hypothesis 1: MFIs have the same banking ratios compared with commercial banks from G10 nations. Systematic risk of MFIs Impact of macroeconomic indicators on MFIs and visa versa Null Hypothesis 2: MFIs and macroeconomic indicators are not related. Microfinance business and investors MFIs have a different business model than traditional banks. This affects capital structure of the institution. The expectations of investors are also higher. A return hurdle is identified in †¦. Which state that investors expect return on equity of MFIs between 20-25 percent due to additional risk of the underdeveloped markets. Transaction costs are high for investors. Since most MFIs are not publicly tradable investors have to spend relative more time and effort to find, retrieve and monitor funds of MFIs. Exchange rates and effort to buy forgein shares in MFIs The lack of transparency creates information asymmetry Asymmetric information contributes to high transaction costs associated with underwriting, monitoring, and loss adjustment. The very same asymmetric information and transaction costs problems also plague financial markets in rural areas of low-income countries, contributing to high market interest rates. Market interest rates are also affected by default risk. Financial regulations can protect the interests of consumers by reducing information asymmetries. So Camel But for MFIs instead of commercial banks it is very difficult to diversify risk. Since most lenders have a business in agricultural oparetions a nature disaster or a change of policy within the domestic border affects almost the compete loan portfolio. For this reason it is important to understand the underlying sustamtic risk of an MFI with a nation. Bank Performance Measurement Measurement of the financial performance of banks increases the transparency of the banking sector in various ways. First, the performance indicators are warning signals for troubled banks. This increases the safety of the banking system. Secondly the indicators are useful tools for allocation decisions for investors. Especially in the case of MFIs, investors lack perfect information. Compared with developed nations the information asymmetry is greater, since commercial banks from industrialized countries have easy accessible and reliable performance indicators. Monitoring MFI performance decreases the information asymmetry gap for investors, which helps MFIs to attract more funds and increase their performances. A performance model assesses the efficiency of the organization. Efficiency is the ratio of the effective or useful output to the total input of a system. Different methods are available to measure the efficiency of banks. Statistical and intelligent techniques to model bank performance models are extensively reviewed by Kumar Ravi (2009). The most common approaches are data envelopment analysis (DEA) (Liu, 2009) and CAMEL analysis (Cole Gunther, 2008). DEA is a non parametric method which uses linear programming to measure multiple in- and outputs of business units. The business units are compared through creating an efficient frontier of best performing business units. DEA is mainly used to asses the internal efficiency of a bank. On-site examinations are the most precise way to monitor the performance of a bank. In developed nations are banks assessed between every 12-18 months. The ratings are known to CAMELS ratings according to their functional areas: capital adequacy, asset quality, management quality, earnings strength and liquidity. The performance of each area is rated on a 5 point scale (1 strong performance, 2 satisfactory performance, 3 performance that is flawed to some degree, 4 marginal performance that is significantly below average, 5 unsatisfactory performance that is critically deficient and in need of immediate action). From the 5 areas is a composite overall rating constructed. The Commercial Bank Examination Manual produced by the Board of Governors of the Federal Reserve System qualifies an institution consequently as; 1 an institution that is basically sound in every respect, 2 an institution that is fundamentally sound but has modest weaknesses, 3 an institution with financial, operatio nal, or compliance weaknesses that give cause for supervisory concern, 4 an institution with serious financial weaknesses that could impair future viability, 5 an institution with critical financial weaknesses that render the probability of failure extremely high in the near term. Although the CAMEL approach is widely used, Cole Gunther (2008) point out that the reliability of the ratings decays rapidly once published. To deal with the diminishing value of CAMEL ratings, they offer a method to create CAMEL rating based on accounting data. The off-site examination of the CAMEL rating performs better after two quarters since the last on site assessment. The CAMEL approach is a suitable starting point to asses MFI performance, since MFI data is only published annually. The rating enables to benchmark multiple MFIs and filter credible and well performing institutions from the dataset. CAMEL offers thereby the possibility to incorporate the social objective of MFIs within the performance model. Besides CAMEL are seven approaches established to measure MFI performance. The Global Development Research center describes all approaches which find their origin from private and commercial initiatives to rank MFIs. The ACCION Camel approach is comparable to the measuremen t as suggested above. An overview of the systems: PEARLS rating system. This is a rating system developed for credit unions by the World Council of Credit Unions (WOCCU). ACCION Camel. The evaluation guideline for MFIs developed by ACCION International. Girafe rating system. Developed by PlaNetFinance. MicroRate. Developed by Damian von Stauffenberg of MicroRate. MicroBanking Bulletin/ MicroBanking Standards Project. Funded by the Consultative Group to Assist the Poorest (CGAP). The Philippine Coalition for Micro-finance Standards.Developed a set of performance standards to serve as guidelines or benchmarks to assess the operations of NGOs involved in microfinance. Institutional Performance Standards and PlansDeveloped by the Committee of Donor Agencies for Small Enterprise Development and United Nations Capital Development Fund. CAMEL is suggested as most suitable for investors. The reliance on qualitative measurement through interviews with the MFIs management is a drawback of the above mentioned methods. Although interviews are useful to assess the performance of an institution, it does not allow investors to asses the institution based on free available information (for example from MIX markets). The CAMEL approach offers an objective evaluation method to assess the performance on quantitative measures. CAMEL is thereby widely recognized as a well performance rating method of financial institutions. The areas of the CAMEL approach are defined, but the indicators to generate the rating of the areas vary per organization or study. Microfinance has a different banking perspective compared with traditional banking. To adjust for this basic principle the set of accounting indicators for the CAMEL model is different, compared with models of traditional banks. ACCION is a rating agency which uses CAMEL to measure the performance of MFIs. A combination of qualitative (interviews) and quantitative (accounting data) analysis is used to rate the institutions. The present study solely uses quantitative measures to assess MFI performance. The indicators are adjusted to the amount of the gross loan portfolio to adjust for company size. Capital adequacy is measured by the amount of total equity and the amount of leverage within the organizations. A higher amount of equity reduces the probability of the occurrence of insolvency. A higher reliance on debt increases the financial pressure on the institution. Leverage reduces therefore the overall CAMEL score. Asset quality indicates the quality of the loans. The write of ratio of the loans and the not winnable loans in 30 days, reduces the quality of the assets. The ACCION model and the model of Cole Gunther (2008) do not include a quantitative measure of management. The current study measures the way the management uses the financial resources efficiently to provide as many loans with the same resources. Better management should be able to reach more clients (possibly with a higher amount of an average loan). Operational self-sufficiency is a measure of overall financial performance of the management. The ratio of operational expenses and loan portfolio presents how effective the management distributes loans to clients. This serves as a proxy for the objective of MFIs to reduce poverty. Secondly is the amount of active borrowers an absolute measure of how many clients the management reaches compared to the financial resources. The average loan balance divided by the GNI of the domestic nation indicates how much a MFI offers to clients within the local context. Earnings strength is the most important for return oriented investors. Return on assets and equity are a widely accepted measures of financial performance. Profit margin is included as a profitability measure of the services offered by the institution. Liquidity is a measure of how well an institution deals with short term cash flows and needs. Unfortunately the database only provides annual information of balance sheets. Specific (short term) cash flow information is not available. Liquidity represents the ability of an institution to meet obligations as they come due. In order to create a proxy for liquidity, data is gathered to determine till which extent institutions can meet loan requests of clients. Two ratios are calculated. The first represents the growth of the assets compared with the growth in the total loan portfolio. The second ratio focuses on the growth of equity compared with the growth in the total loan portfolio. If the ratios are above one, institutions are able to meet the obligations of new loans on a short term basis. An overview of the indicators used in the present study is given in table X, together with the expected effect on the overall CAMEL score. BEKIJK CLEAM Winker Tank, 2008 Exponential weighting is used to include past performances of institutions into the model. Other CAMEL models do not incorporate the time dimension, but past performances are a reliable proxy for future performance. Capital adequacy is for example calculated as: CA1 and CA2 are the camel scores on the indicators as discussed above, is the weight of the indicator within the specified CAMEL area. This will be normally equally distributed over the amount of parameters. The is the degree to which the past years taken into the equation. N is the amount of years of available data of MFI performance. The overall CAMEL score is constructed by an equal or adjusted weighting of the five performance areas. The sums of the weights of the indicators have a maximum of 1. Regarding the social objectives of MFIs a distinction is made between solely return oriented investors and more social oriented investors. A customized CAMEL rating on the preferences of an investor is created by shifting the weights of the areas, yielding the CAMEL rating which reflects the preferences of the investor. Within this study we will use an equal weight distributing, a distribution which stresses the financial performance (ES) and a rating which focuses on the social objectives (MQ). Two words of caution have to be made with the use of the current model. The comparability of the ratings is not straight forward when investors adjust weights to their preferences. Traditional CAMEL models use always an equal weighting over the areas, to grant comparability. Secondly, in line with Cole Gunther (2008) the CAMEL ratings are a not interchangeable with the CAMEL based on on-site visits. For investors the model designed for MFIs provides a reasonable indicator to determine the quality of MFIs on various aspects and should be seen complementary with the on site visits. Summarizing, CAMEL is used as a starting point to measures the financial performance of MFIs. Specific indicators are chosen to adjust for the special case of a microfinance institution. The ACCION CAMEL model provided a first start for the current model. The solely quantitative model incorporates proposes a measure for effective management of an MFI, as a reflection of the social objective of MFIs. Secondly the model also considers past performance of MFIs with the use of exponential weighting. Thirdly the model enables to provide weights according to the investor preferences. For MFIs the model presents indicators which could be embedded in the MFIs performance goals. This way MFIs could attract more funds necessary through establishing a better rating and so, become more attractive for investors. In the appendix are the CAMEL rating for the indicators specified. Systematic risk in microfinance Sentivity to market risk as a extension of the CAMEL model. Descriptive statics are used to compare the performance of MFIs with commercial banks. Banking ratios of commercial banks of the G10 are used as a benchmark. The comparison of banking ratios provides a glance of the performance of the MFIs. The return on assets (RoA) and on equity (RoE) is compared to give an indication of the profitability of MFIs. The outstanding loan portfolios and write off ratios, provide a view of the riskiness MFIs, since micro credit represents the largest product class with microfinance. Leverage is used as an additional proxy for the riskiness of the organizations. Operational costs are compared to get a feeling for the efficiency of MFIs. According to Krauss Walter (2008) is the performance of MFIs mainly driven by macroeconomic factors within the domestic borders. The drivers of the financial performance of MFIs are studied with the use of the arbitrage pricing model (APT). The asset pricing model is used to determine the risk premiums of the macro economic factors of MFIs within the nation. Roll Ross (1995) find that the return on assets or equity consists of a system of risk factors. The systematic risk factors are macroeconomic factors. The expected return on a portfolio of assets is given by The betas on the factors represent a risk premium for a systematic risk factor. The alpha, as a residual idiosyncratic factor is canceling out in large portfolios. By using the linear multi factor model an indication of the impact of the macroeconomic factors is revealed on the performance of MFIs. The factors incorporated in the model are the growth of GDP, GNI, inflation and the penetration of the financial sector within the nation. In line with the

J. R. R. Tolkiens The Lord of the Rings - Frodo Baggins as a Christ-Fi

J. R. R. Tolkien's The Lord of the Rings - Frodo Baggins as a Christ-Figure J. R. R. Tolkien's The Lord of the Rings has delighted readers since its publication owing to its author's skillful development of his fantastic realm and its inhabitants adventures therein. In fact, Tolkien is rightly regarded as the father of the modern fantasy genre, and it often seems all fantasy imitates his work in some way. However, as readers return to the work, it often becomes apparent that the work is more than a simple escapist journey into an imaginary world; the work represents the finest traditions in literature and rich grounding in Tolkien's study of language and mythology. Equally surprising, though, Tolkien himself admits that the series is a "fundamentally religious and Catholic work†¦"[1] To the casual reader, Middle-Earth, the setting, seems a world devoid of religious practice, Christian or otherwise. Unsurprisingly, Tolkien added that the religious aspect about which he spoke appeared "unconsciously so at first, but consciously in the revision," and that "the religious element is absorbed into the story and the symbolism."[2] Therefore, an investigation into probable sources of Christian symbolism leads to questions of characterization and its most obvious target: Frodo Baggins, a Christ-figure. The protagonist of the story, Frodo Baggins is a Hobbit, a small humanoid creature, short in stature and big in appetite. As soon as Tolkien introduces him in the first chapter, Frodo's status as a Christ figure emerges: "Anyway: there was this Mr. Frodo left an orphan and stranded," gossip Frodo's new neighbors when his uncle Bilbo adopts the him.[3] immediately, Frodo possesses two important characteristic of any Christ ... ...ery land of Mordor, conquering an evil which seems far greater than himself. In doing so, Frodo makes up for carelessness of the nations of Middle-Earth who in their sloth allowed the evil to rise up, despite forewarning of the danger. In all these things, there exist clear similarities with Christ who undertakes a similar goal, vanquishing the evil of sin from the world with total selflessness, compassion, and determination. In the end, Frodo admits admirably, "I tried to save the Shire, and it has been saved†¦."[6] [1] Tolkien, J.R.R.. "To Robert Murray, S.J." 2 December 1953. The Letters of J.R.R. Tolkien. Ed. Humphrey Carpenter and Christopher Tolkien (Houghton Mifflin Company: Boston, 1981) 172. [2] Ibid. [3] Tolkien, J.R.R.. The Lord of the Rings (Houghton Mifflin Company: Boston, 1954) 31. [4] Ibid, 217. [5] Ibid, 309. [6] Ibid, 309.

Company of Lovers :: essays research papers

THE COMPANY OF LOVERS: JUDITH WRIGHT Judith Wright’s 1946 poem â€Å"The Company of Lovers† makes a juxtaposition of two essential forces of major impact upon human existence, the effects of love and those of death. Within the poem it can be noted that the two stanzas reflect each of the certain themes. The first, a universal description of love and the ambitions two lovers might have, whilst the second a reflection of how quick all may soon be lost through the loneliness of death. Wright is renown for her use language, and many of her poems contain paradoxes in which the reader is confronted with a phrase completely unrealisable, but effective in portraying the nature of the poem. â€Å"The Company Of Lovers† itself opens with the use of a paradox â€Å"†¦We meet and part now†¦Ã¢â‚¬  instils an image of simultaneous unity and depart, evoking in a sense of temporary cohesion that may soon be lost. This may represent a changing nature of ‘lovers’ and perhaps such a quick meeting and farewell represents the promiscuous nature of some who class themselves as ‘lovers.’ Nonetheless, a different approach is taken as the first stanza introduces ‘the lost company’ which could quite well represent lost ideals or values that once offered what was a company of lovers, which has now become short-term relationships. This emphasis goes on to describe, with passion, the joining of ‘hands together in the night’ of those â€Å"who sought many things, throw all away for this one thing, one only† – love. Such descriptions change, however, as the last lines change in tone, bringing forth a harsh reality, even to those submerged in the unified joys of love with a strategically placed ‘narrow grave’ to emphasise the loneliness of death. Ambiguity can also be noted through the use of many words within the poem, even from the first lines of the title itself. The word ‘company’ has several connotations of which could signify the reader being within the company of lovers, or perhaps lover’s in the company of one another.

Shakespeare As You Like It: Effective Use Of Sound In Jaques Speech :: essays research papers fc

Shakespeare' As You Like It: Effective Use of Sound In Jaques' Speech As infamous as Shakespeare is, and as well known as his works are, some prose are just simply more extraordinary than the rest. There are many ways to look at Jaques speech, such as use of language or imagery yet, something we often do not reflect on is the sound of the prose. When reading this particular speech, the subject is directly related to the sounds Shakespeare has chosen. We are guided gracefully through the stages of life in twenty-seven lines. As it is read aloud, the reader hears the actual sounds that each stage exhibits, and finds themselves part of the speech, experiencing it, as opposed to merely reading it. The introduction is like a drum-roll before the show starts. The intonation at which the reader proceeds begins with a high sound due to† ...(a)ll...† 1 being the first word. The ‘aw' sound is repeated at the beginning and three times during the next sentence, â€Å"And all the men and women merely players;† (2.7.140). The next sentence is lower in pitch, using a lower ‘ e' sound â€Å"..exit and their entrances,† (2.7.141). Reappearing in the final two sentences, before the actual ages begin, is the ‘aw' sound. The fluctuation like that of a ring master, is striving to gain attention before the show starts. The first three stages can be considered the childhood progressing into adulthood stages. â€Å"Mewling and puking...† (2.7.144), are two words, which when said, they are slurred and unclear, much like that of the speech of an infant. The ‘ew' in mewling and the ‘you' sound in puking are common noises from young children. Next we reach the schoolboy stage. Young men are often reluctant to attend school, and their protests take the form of â€Å"...whining...† (2.7.145). When the word whining is pronounced, it sounds like a whine. The word starts with a dragged out ‘why' sound, making the reader again feel like they are making the sounds which are pertinent to that age. Words associated with lovers are soft and flowing, much like those used by Shakespeare in the prose of this age. â€Å"Sighing like furnace, with woeful ballad† (2.7.148), depict more emotion than seen within the prior two stages. When sighing is pronounced, it takes the form of an actual sigh, causing the reader to actually act out the verb instead of simply speaking it. The three initial stages are complete, leaving the reader dangling on the edge of adulthood. Soldiers are usually equated with fast wit and decisiveness. The use of short words and short sounds emphasize these next five lines of prose in

Chad Foster’s “Teenagers Preparing for the real world” Essay

Chad Foster’s book Teenagers Preparing for the Real World, is a great motivational piece for teens and leaves a lasting impression on the reader. In the chapter â€Å"Mr. X and Mr. President,† Foster instills the importance of contacts and friendship in a person’s life. His example of Mr. X shows kids that a friendship formed in a person’s younger years can pay off greatly down the road, emotionally and even financially. He then tells the tale of his father’s first experience in the work world, where he met two men, had a brief friendship for a few months, then moved. Foster senior continued to correspond with these men for the next thirty years, never even seeing each other. As it turns out, one of these men was President George Bush and Foster had the opportunity to meet him in person. This story is significant because it shows that everyone grows up to be someone in the world, and someday you just might want to be their contact. Overall, this is a very well put together chapter and defiantly leaves an impression on the reader.

College Athletes Should be paid Essay

Today, professional sports are no longer just fun and games like they used to be, they are a business. And college sports are the same. High-level college sports provide a majority of a universities’ income. From ticket sales to television contracts, universities are making millions from their sports. And while this is all happening, the athletes are receiving a scholarship and little more. Although a full ride to college may be nothing to complain about; when the situation is more closely examined it is realized that for some athletes, that isn’t enough. If universities are making millions of dollars off of their superstar’s jersey, then he should be entitled to some of those earnings. That money is rightfully his or hers and college athletes deserve the money that they earn through their hard work and dedication just as the professionals do. College athletes need to be paid because the universities are using their talent for money opportunities, for some athlet es the pros isn’t guaranteed, and an injury on a sport scholarship could set some up for failure. The biggest controversy with all the revenue â€Å"The NCAA is a multi-billion dollar industry that generated over $845 billion last year due to their players’ ability to entertain and perform to their fullest extent at all times.†(Sonny) College Athletes Should Be Paid Today, professional sports are no longer just fun and games like they used to be, they are a business. And college sports are the same. High-level college sports provide a majority of a universities’ income. From ticket sales to television contracts, universities are making millions from their sports. And while this is all happening, the athletes are receiving a scholarship and little more. Although a full ride to college may be nothing to complain about; when the situation is more closely examined it is realized that for some athletes, that isn’t enough. If universities are making millions of dollars off of their superstar’s jersey, then he should be entitled to some of those earnings. That money is rightfully his or hers and college athletes deserve the money that they earn through their hard work and dedication just as the professionals do. College athletes need to be paid because the universities are using their talent for money opportunities, for some athletes the pros isn’t guaranteed, and an injury on a sport scholarship could set some up for failure. The biggest controversy with all the revenue â€Å"The NCAA is a multi-billion dollar industry that generated over $845 billion last year due to their players’ ability to entertain and perform to their fullest extent at all times.†(Sonny) College Athletes Should Be Paid Today, professional sports are no longer just fun and games like they used to be, they are a business. And college sports are the same. High-level college sports provide a majority of a universities’ income. From ticket sales to television contracts, universities are making millions from their sports. And while this is all happening, the athletes are receiving a scholarship and little more. Although a full ride to college may be nothing to complain about; when the situation is more closely examined it is realized that for some athletes, that isn’t enough. If universities are making millions of dollars off of their superstar’s jersey, then he should be entitled to some of those earnings. That money is rightfully his or hers and college athletes deserve the money that they earn through their hard work and dedication just as the professionals do. College athletes need to be paid because the universities are using their talent for money opportunities, for some athlet es the pros isn’t guaranteed, and an injury on a sport scholarship could set some up for failure. The biggest controversy with all the revenue â€Å"The NCAA is a multi-billion dollar industry that generated over $845 billion last year due to their players’ ability to entertain and perform to their fullest extent at all times.†(Sonny) College Athletes Should Be Paid Today, professional sports are no longer just fun and games like they used to be, they are a business. And college sports are the same. High-level college sports provide a majority of a universities’ income. From ticket sales to television contracts, universities are making millions from their sports. And while this is all happening, the athletes are receiving a scholarship and little more. Although a full ride to college may be nothing to complain about; when the situation is more closely examined it is realized that for some athletes, that isn’t enough. If universities are making millions of dollars off of their superstar’s jersey, then he should be entitled to some of those earnings. That money is rightfully his or hers and college athletes deserve the money that they earn through their hard work and dedication just as the professionals do. College athletes need to be paid because the universities are using their talent for money opportunities, for some athletes the pros isn’t guaranteed, and an injury on a sport scholarship c ould set some up for failure. The biggest controversy with all the revenue â€Å"The NCAA is a multi-billion dollar industry that generated over $845 billion last year due to their players’ ability to entertain and perform to their fullest extent at all times.†(Sonny) College Athletes Should Be Paid Today, professional sports are no longer just fun and games like they used to be, they are a business. And college sports are the same. High-level college sports provide a majority of a universities’ income. From ticket sales to television contracts, universities are making millions from their sports. And while this is all happening, the athletes are receiving a scholarship and little more. Although a full ride to college may be nothing to complain about; when the situation is more closely examined it is realized that for some athletes, that isn’t enough. If universities are making millions of dollars off of their superstar’s jersey, then he should be entitled to some of those earnings. That money is rightfully his or hers and college athletes deserve the money that they earn through their hard work and dedication just as the professionals do. College athletes need to be paid because the universities are using their talent for money opportunities, for some athlet es the pros isn’t guaranteed, and an injury on a sport scholarship could set some up for failure. The biggest controversy with all the revenue â€Å"The NCAA is a multi-billion dollar industry that generated over $845 billion last year due to their players’ ability to entertain and perform to their fullest extent at all times.†(Sonny) College Athletes Should Be Paid Today, professional sports are no longer just fun and games like they used to be, they are a business. And college sports are the same. High-level college sports provide a majority of a universities’ income. From ticket sales to television contracts, universities are making millions from their sports. And while this is all happening, the athletes are receiving a scholarship and little more. Although a full ride to college may be nothing to complain about; when the situation is more closely examined it is realized that for some athletes, that isn’t enough. If universities are making millions of dollars off of their superstar’s jersey, then he should be entitled to some of those earnings. That money is rightfully his or hers and college athletes deserve the money that they earn through their hard work and dedication just as the professionals do. College athletes need to be paid because the universities are using their talent for money opportunities, for some athlet es the pros isn’t guaranteed, and an injury on a sport scholarship could set some up for failure. The biggest controversy with all the revenue â€Å"The NCAA is a multi-billion dollar industry that generated over $845 billion last year due to their players’ ability to entertain and perform to their fullest extent at all times.†(Sonny)

Lysistrata

C/LT 320I: Notes on Greek Comedy and Lysistrata Waters/Fall 2011 this play acts as prophecy- war will destroy Pretext for Aristophanes’ Lysistrata (411 BCE)Homeric Epics- the bible for the greeks, the Iliad (more concerned with the war-translates as a catastrophe) and the odyssey, everybody looses type of thing, 1200bce, trojan war didn't happen, 1870 AD, Phallic Rituals- create something tall and worship it, masculine virility, ritual celebration, center of orgies and animal sacrifice, every woman has to get pregnant if they can, Dithyramb- chorus, both people and song, groups of farmers and shepards and practice and compete with song and dance, friendly competition, chorus never interacts with the main action- too busy bickering amongst their selves, Satyr Plays- satire- short comic skits done as popular entertainment, variations of themes, goatmen playing songs, structured like a bugs bunny cartoon, seduction songs ( forbidden fruit), satrys always get what they want, mood pieces ( gets people in the â€Å"mood†) Dionysus- story in spring, athens is greatest city at the time, god to celebrate, god of wine and feasting- the party god, is part human, the god most like us, he is constantly at war with himself, circular, father zeus + mother nymph, comic split- pulled between two worlds, always over does it Peloponnesian War (Athens v. Sparta) 15 years, spartans won, quagmire, end 6 years later with athens losing, alternative to self destruction, Characteristics of Greek Old ComedyAgon- means the problem, WAR, agonY, active and passive, explicit and inplicit, agon is active in lysistrata, comedy acts as a prophecy, Parabasis- seculusion of the dithyramb, â€Å"next to or simile† something like a doctor, basis foundation, parallel basis for pushing it forward, exaggeration variation of the agon of the play, is a point in the play when all of the actors leave the stage and thechorus is left to address the audience directly. The chorus partiall y or completely abandons its dramatic role to talk to the audience on a topic completely irrelevant to the subject of the play. Episodes- shorter punchier scenes at the end, pays off of initial investment, content gives way to pure form archetype: alazon is the baggard male, macho figure who needs to be brought down by clever servant miles gloriosus- † braggart solider† – boastful soldier, a posturing and self- deceiving boaster or bully igon- clever servant trong woman,Alazon- baggard male, macho figure who needs to be brought down by the clever servant Eiron-The modern term irony is derived from the eiron of the classical Greek theatre. Irony is the difference between the actual meaning of a something and the apparent meaning. [4] The eiron would frequently triumph over the alazon by making himself appear less than he actually is. ( the clever servant), Eiron usually succeeds in bringing his braggart opponenet ( alazon) down by making himself seem like less than he actually was Techne/Skene- stage, balconies, things high and above, tall massive backdrop, Orchestra- † pit† dancing place, social dance, costumes, megaphones, refer to paper Comic Effect in LysistrataScatology- humor based on bodily functions, gags that makes us go ew Reification- stereotyping, breaking down human beings into a cartoon, archetypes-caricatures, reification is always negatives, break down to appearance, attitude, things that make people vulnerable, think of lampido, the woman at the end as an object Anachronism- something that breaks us out of time, nobody is reading it in its time it is set, look for the ways translater takes the jokes that applies it to the current audience Anthropomorphism- attribution of human characteristics to non-human things, Early Comic Theory Aristotle, Poetics (ca. 350 BCE): Mimesis- name of the goddess of revenge, â€Å"to give what is due† Catharsis- purification or purgation of emotions that brings about spiritual renewal or release from tensionHubris- extreme pride or arrogance, indicates a loss of contact with reality and an overestimation of one's own competence and abilities ( especially when the person is in power) ; arrogance before the gods, defiance of authority after pelponesian war, aristotle- important greek philosopher, poetics- how to tell a story, how to make the relate to life itself, dramatic narrative ( most important, most like us) not narrative or visual, mimesis- imitates life, how does the story imitate experience, we are attracted to the spectacular imitation of life, imitation of the spiritual, how does the play make us think about ourselves, aspiration validation, catharsis- emotional release, taking away the lesson, hubris- defiance of the gods, defying any type of authority, comedy gives us a false sense of liberty,

Hamburger Universities Essay

As of today, we have seven Hamburger Universities (HUs) around the world. They are state of the art training centers for restaurant employees and corporate staff. Since its inception, Hamburger University training has emphasized consistent restaurant operations procedures, service, quality and cleanliness. The curriculum is comprehensive, thought-provoking and the perfect foundation for building a successful career. The fact that our Oak Brook Campus Hamburger University is the only restaurant company training academy awarded  college credit recommendations by the American Council on Education (ACE) is indicative of the value Hamburger Universities bring to our system and our employees. ACE recommendations mean that credits earned at Hamburger University can be applied toward a college degree. 100% of the restaurant manager and mid-management curricula are eligible for a total of up to 46 credits – approximately two years of full-time college study. Over the years, McDonald’s Malaysia sent its Restaurant Managers to Hamburger  Universities located in the United States, Australia and Korea. In mid-2006, we officially launched the McDonald’s Leadership Institute, a virtual learning community with guidance and resources to support and develop employee leadership and talent. It gives McDonald’s leaders opportunities to grow and develop through structured learning with other leaders, to participate in challenging development experiences and to access a wide variety of development tools and best practices resources. The Leadership Institute helps them develop critical leadership skills needed to address major short and long-term business challenges that are affecting the corporation. Under the auspices of the Institute, accelerated leadership development programs for high-potential directors and officers are offered annually across all areas of the world. As the end of 2007, 184 employees from 43 countries had participated with more than 40% of those who graduated receiving promotions.

Business Assignment Example | Topics and Well Written Essays - 1000 words

Business - Assignment Example For example, many people might think that The Walt Disney Company's mission is to run theme parks. But, Disney's mission is always moving toward an expanded view. Disney provides entertainment. "Disney's overriding objective is to create shareholder value by continuing to be the world's premier entertainment company from a creative, strategic, and financial standpoint." You might also think that Revlon's mission is to make cosmetics. Yet, Revlon provides glamour, excitement and innovation. Charles Revson, Revlon's founder understood the importance of mission. He said "In the factory, we make cosmetics; in the store, we sell hope." Microsoft's early vision statement was "A Computer on Every Desk and In Every Home." (At approximately the same time, President John Akers said IBM's goal was to become a $100 billion company by then end of the century. At that time IBM sales were $50 billion.) Ideally the vision should be presented in a language that reaches out and grabs people, creates a vivid image in their heads and provokes motivation and

Business Essay Example | Topics and Well Written Essays - 1000 words

Business - Essay Example In general, the role of MIS in terms of a DSS is to analyze and process business data that will aid business decision making efficiently (Nowduri 2011). For instance, MIS provides comparative sales figures pertaining to a week, revenue figures projected on assumptions of a new product and history of decisions or workarounds performed (Nowduri 2011). Types of information Systems Following are the five kinds of information system (Asemi, Safari et al. 2011) Office information system (OIS) Transaction processing system (TPS) Management information system (MIS) Decision support system (DSS) Expert system (ES) The hardware’s, software’s and networks are utilizes by the office information system (OIS) in order to improve the communication as, well as the work flow between the employees. In addition with the help of automated information system users can perform several tasks electronically while using other electronic devices such as computers etc. for instance, it is easy fo r a registration department to e-mail the class schedule to the students through internet. On the other hand if the information system is not implemented then manually the registration department has to photocopy the schedule and post it to the student’s house. The transaction processing system delineates the everyday transactions held by the organizations. Its main purpose is to confine and to develop the information that is produced by the organizations. The term transaction is described as the everyday business activities for example cash deposits, payments, orders or reservations. In fact, this activity is significantly performed by the accounting staff. The management information system (MIS) is a kind of information system that produces such information that is precise, appropriate and well structured. In addition, this information is utilizing by the managers and the other users in order to make right decisions, solves troubles, track progresses, provides reports on re gular basis (Awais, Samin et al. 2011) and manages activities. Therefore, the management information system (MIS) is also known as the management reporting systems (MRS). Furthermore, three fundamental kinds of information are provided via MIS such as (Awais, Samin et al. 2011): Example of detail report is Detailed Order Report. Example of summary report is an Inventory Summary. Example of exception report is an Inventory Exception Report. In a decision making situations an information system i.e. Decision Support System (DSS) is produced that can help the users to achieve better decisions. The data that is used by the Decision Support Systems (DSS) is either from internal or from external source. (Awais, Samin et al. 2011) The Internal sources of data might include sales, manufacturing, inventory, or financial data from an organization’s database. Data from external sources could include interest rates, population trends, and costs of new housing construction or raw material pricing. However, DSS provides a series of excellent decision making techniques. The Expert System is an information system that is designed to incarcerate and store data from human experts. Moreover, this information is utilized by the less expert employees that lack good decision making skills. This Expert System (ES) is based on two components such as, knowledge base and inference rules. Discussion One of the tight-spot in this research paper is that today managers are