In the play Hamlet by William Shakespeare Essay

In the play ‘Hamlet’ by William Shakespeare, one of the main themes is the discrepancy between appearance and reality. The development of this theme through the plot, soliloquy and imagery help to reinforce the player’s role in the play and directs the audience to where their allegiances should lie for the climax of the play. The theme appearance versus reality is clearly evident throughout this Shakespearean play; it is introduced at the very beginning through Claudius’ speech to the court. The structure and rhythm of this blank verse carries him through but the imagery that Shakespeare uses signals to the audience the corruption in Denmark – he uses phrases such as ‘defeated joy’, ‘one auspicious and one drooping eye’ and ‘wisest sorrow’. These opposing images and hollow phrases reveal the hypocrisy of the diplomat’s words; how can a person have ‘one auspicious and one drooping eye’ unless they are duplicitous? Claudius’ opening speech is also eloquent, relaxed and so carefully structured that it appears rehearsed – he deals with three items of business before confronting his black-suited nephew: Old King Hamlet’s death; the threat from Fortinbras’ army; Laertes’ impending departure to France. Shakespeare here signals to the audience that Claudius is uneasier than he appears by leaving his nephew and son-in-law to deal with last. In my opinion, the exposition of Claudius’ Machiavellian mature at the beginning through the theme appearance versus reality is very effective as it reveals to the audience the corruption in Elsinore which essentially instigates Hamlet’s revenge and also exposes Claudius at the beginning of the play as the antagonist, aligning the audience’s sympathies. Furthermore, this main theme is developed through the soliloquies – in particular Claudius’. During his agonised soliloquy, Claudius puts on the appearance of praying but he is pseudo-sincere in this: ‘Pray can I not, though inclination be as sharp as will. ‘ This reveals Claudius confessing to the murder of his brother but not repenting for his sins. As he is not sincere in this, he believes that he will not go to heaven: ‘My words fly up, my thoughts remain below, words without thoughts never to heaven go. ‘ This rhyming couplet not only reveals the theme appearance versus reality, but is also richly ironic as this ‘prayer’ actually saves his life. Shakespeare also employs the transferred epithet ‘stubborn knees’ to further emphasise Claudius’ reluctance to repent for his sins and how he is putting on the appearance of praying, albeit mendaciously. In my opinion, the development of the main theme through Claudius’ soliloquy successfully polarises Claudius from the protagonists and reinforces him as the villain in the play, directing the audience to where their allegiances should lie for the climax of the play. In addition, Shakespeare conveys the theme appearance versus reality through Hamlet’s ‘antic disposition’. This is illustrated particularly well through Hamlet’s exchanges with Polonius: ‘Let her not walk i’th’sun. Conception is a blessing. But as your daughter may conceive – friend, look to’t. ‘ Although these words sound like nonsense to Polonius and the audience, there is a thread of bitter satire running through them. Hamlet reveals his witty sarcasm here as he is aware that Ophelia has been prevented from seeing him and tells Polonius that he should not let her walk in the sun if he wishes to prevent her becoming pregnant. Hamlet’s ‘antic disposition’ is reinforced throughout the play but particularly through his exchanges with Claudius: ‘Excellent i’faith – of the chameleon’s dish. I eat the air, promised crammed. You cannot feed capons so. ‘ Hamlet here is trying to make Claudius think that he is frustrated at not being the King; Claudius pretends not to understand him. In my opinion, Shakespeare effectively polarises Hamlet from Claudius through his ‘antic disposition’ and wit which in turn successfully aligns the audience with the protagonist for the denouement. Furthermore, it could be argued that the theme of surveillance intertwines with the main theme appearance versus reality which helps to further develop the audience’s awareness of the conflict between reality and appearance. For example, Hamlet’s conversations with the two people he loved, Gertrude and Ophelia, were eaves-dropped by Polonius. As a result of the spying, Ophelia and Gertrude spoke to Hamlet with constrained formality: ‘How does your honour for this many a day? ‘. This heated exchange between the eponymous prince and Ophelia during ‘the nunnery scene’ recapitulates arguably the main theme of the play; appearance versus reality which is exposed at the very beginning and is reiterated through Hamlet’s exchanges with Rosencrantz and Guildenstern – they also spy on Hamlet for Claudius: ‘they did make love to this employment! ‘. In my opinion, Shakespeare effectively evokes sympathy for Hamlet and his little allies through dramatic irony and further polarises Hamlet and Claudius through the development of this main theme hence reinforcing Hamlet as the tragic hero of the play. In conclusion, the development of the theme appearance versus reality is essential in augmenting the audience’s understanding and appreciation of the play as a whole. In my opinion, Shakespeare effectively develops this main theme through the plot, soliloquy, imagery and dramatic irony which successfully reinforces the player’s role in the play and also directs the audience to where their sympathies should lie for the denouement.

Van Gogh

Power of Art: Vincent Van Gogh Vincent Van Gogh was a unique and unusual man, yet one would surely not believe that he was a self-taught painter. Vincent was born in 1853 in Grotto-Sunders, a village located in the south of Netherlands. Van Gogh did not pick up painting until the age of 27 which is somewhat late for the average painter of his time. He also did not Jump straight to being an artist, but attempted to be a minister, a missionary, an art dealer, and a teacher. We will see what shaped Van Sago's art whether it was through his perception of the world or through his quest to keep his sanity.We can observe most of Van Sago's life through the connection he and his brother made by the writing of each other's letters. His younger brother, Thee helped Vincent emotionally and financially as he started his new found passion for creating art. Since his attempt of being a preacher did not go as planned, Vincent in a way turned to painting because of familiarity and to express his rel igious faith. Despite his motives, Van Gogh fell short of capturing an audience through his art work. For a while he shared an apartment with a prostitute name Seen. Seen was said to be his muse, his source of inspiration in the creation of artwork.When Vincent father caught wind of this relationship that had trouble written all over it, he demanded that Vincent immediately rid himself of her and continue on his way. He finally gave in and abandoned Seen, leaving her alone where she once again turned to prostitution for her source of income. Van Gogh did not have much luck at first when it came to attracting buyers for his artwork, but the creation of his painting â€Å"The Potato Eaters† was one of his first works to gain some recognition. It was a painting of poor peasants eating potatoes around a inner table.Vincent purposely chose to depict them in their natural environment where it can easily be seen that these hard working peasants labor tirelessly to earn their small r ations of food. The painting further complements the idea of â€Å"poor and unfortunate† through the use of dark, thick, and dusty looking colors. Van Gogh was very heavy on his brush when it came to painting portraits like this because he did not Just want to paint something, but he wanted to create philosophical connection with his audience which most likely were the middle and upper class of society.After moving to Paris, Van Gogh finally found impressionism and began creating paintings with the use of lighter and more brilliant colors. Thee had informed Vincent that it was a very difficult endeavor to sell his paintings to art collectors who disliked his type of dark art style. It was at that point that Vincent embraced his light side and embraced nature as a source of beauty that could only be captured through the use of richly draped yellows, and other lavish colors. One of Van Sago's painting called â€Å"the Sorer† incorporates complementary colors to bring a s ort of immersed intensity to the picture.This painting is a recreation of an earlier painting, but Van Sago's has a glow of brilliance to it through the use of a variety of colors that is sure the audience's eyes in ecstasy. Vincent was always a little skittish growing up, but now it was evident that he was beginning to go mad. It is quite unsure how it came about, but it was said that Van Gogh, in a moment of immense tension, cut his own ear off because of an argument between Gauguin and himself. From there on it was all downhill for the upcoming artist.Vincent eventually admitted himself to a mental hospital where he painted for while in an effort to keep himself from becoming a lunatic Later, he moved with a doctor who specialized with artists who suffered from mental illnesses. Van Gogh seemed to have recovered enough to have left the care of the doctor and returned to painting soon after. One of his last and one his notable works is called â€Å"Wheat Field with Crows†. It is painting that depicts a dramatic landscape set in a wheat field with a great sea of blue as the sky. The single road and flock of crows direct you in an unsure direction, It brings about a sense of loneliness.With thick and heavy strokes, the setting is set or a wind-swept field of golden wheat. This painting is one amongst his unique and haunting works created. A man who may have been mentally ill or Just a man mad at the world for not understanding his views through his art? No one will ever know for sure because his story came to an end when it was said that he shot himself in the stomach later dying due to infection from the wound. It is not clear what type of mental illness Van Gogh suffered from if he did at all suffer from one, but it is fact that he had a way of creating art through the power of his mind and emotion. Van Gogh It seems when one closes their bedroom door all mundane thoughts are gone and you are left with your imagination. One who agrees with this interpretation is Jane Flanders. Jane Flanders is a highly educated woman, as she attended Mar College and Columbia University, she has three books of poems published and has won many awards. A person whose mind is always running and always working such as hers can agree that rest for the imagination is the best way to strengthen it.One simple painting of his bed and petite, creaky room and one simple four stanza poem shows how materialistic possessions can never reflect the human soul, simplicity in life heightens creativity ND how solitude doesn't have to be a negative aspect in life. â€Å"l can tell you that for my part I will try to keep a straight course, and will paint the most simple, the most common things† (Van Gogh, 545). This was written in a letter to Vincent brother Thee, Van Gogh is declaring how he now wants to live his life : straight forward and simple.As one can see in the painting he did not accumulate many riches in his life. He never kept heirlooms or anything of wealthy status. His bedroom as described in the poem is â€Å"is narrow†¦ Clumsy but friendly†¦ Empty' (Flanders, Van Sago's Bed). The pictures on the wall are crooked, it's a tiny room for one with a narrow window, filled with a table where he works and chairs to sit on. Flanders describes it Just as it is, these adjectives can be not be clearer. To me this proves that materialistic objects in life can never reflect the soul off person.Van Gogh had a talent that millions of apprentices striver for. It was typical for only the rich to be educated and/or learn an artist's trade. It's common for the wealthy to obtain more opportunities in life than he poor, yet a man with many personal struggles in his life is known as a man today that is hard to measure up to. Many people believe your status, or what you own is who you are, this is not true. One can see how his bedrooms looks like one of a peasants, yet this status or preconception does not diminish nor prove that he is not gifted or have a remarkable soul.It's like today how homeless people are looked down upon like uneducated, untalented scum but in reality they could be Just as gifted as a privileged person. Just because they struggle in different ways than we do goes not mean their soul is any less valuable. The value of what we own does not determine the value of our souls and being. What creates this value is our imagination, spirit, morals, personality, creativity and expression. These aspects in life help us find our purpose, our materialistic success can never fulfill such a destiny.Without imagination what would life be like? The only word I can think of is lifeless. No child's smile would light up the room, no painting would be filled with color, no Joke would ever hear a laugh, no purpose would there be in life. Just as cells re the building bl ocks of physical life, imaginations are the building blocks of our purposes in life, whatever they may be. When looking at his painting I take from the simplicity, rest. Rest of the mind, body and spirit, when these three are at rest they grow a unique, metal potential kinetic energy.When one locks themselves away from the world in their bedroom, a safe place where no one can disturb them, their mind is now at ease. There are no worries that can bother them, whatever is out of sight is now out of mind and the mind now becomes clearer. When the mind is clear and jack to its simplistic ways all that is left is imagination and creativity that is free to roam. This is why Van Sago's bed is right next to his work desk where his mind can freely express itself. It's common for all humans to lay in bed and because the complexities of our day is over we no longer have to think about what is next until the morning.Nothing left is on our lists for us to be preoccupied with. Life complexity cri pples creativity, if we're constantly thinking about our mundane world, we never have a chance to think about our inner selves. This can also be proven in the color Van Gogh uses. The brilliant, vibrant colors such as orange, yellow, blue and green come to life via simple form. His use of these colors bring his bedroom to life, it proves that even though it's a simple picture, its one little thing in life that makes the difference of it Just existing or it living, that's creativity that sparks from imagination.All in all, rest lets our minds breathe and gives us a greater creative potential, and anything else more than simple can deprive us from this. Looking at his painting, one might feel sadness by observing how there are two pillows for one head and two hairs for one body. Being alone is mostly deemed as a negative aspect in life, and it is natural to think that due to humans instinctual being social creatures. Though it is lovely having loved ones in life, solitude is not alway s negative, you can be alone without feeling lonely.Flanders describes his bedroom as, â€Å"is empty, morning light pours in like wine, melody, fragrance, the memory of happiness† (Flanders, 545). She perfectly shows how emptiness isn't always a hollow pain, but rather a nostalgic memory. Memories were created in that bedroom, paintings with inexplicable expressions of the Joy in life and the sad confusion. Van Gogh wasn't alone, he had himself, he had his artwork, and his imagination alone kept him company. Solitude is one of the many paths to figure out our niche in life, something that he longed for.Learning to be happy alone brings a life time of happiness, you never have to depend on someone or something else to bring you happiness in life. You are always with yourself and loving and enjoying your own company is a stable way to ensure your happiness. Even though Van Gogh is seen historically as an unstable man, solitude ay have given him stability. He didn't seem to â⠂¬Å"fit into† the world around him, but the world he understood was his own through art.One can also see in this stanza how Flanders compares the morning light pouring in like wine, a melody or a fragrance, all very simple things that can spark a memory. These may have been things one experienced by themselves resting, reflecting upon them alone, how a memory of an experience learning about themselves can bring self-happiness. This is why solitude is not always a such a bad thing, we are our greatest teachers in life, only we can fulfill our destinies and we can only move to the next step by knowing who we are and we do this through solitude.A painting so simple yet packed with so much. Van Gogh succeeded in showing the viewer what he wanted to portray, how our materialistic life can never reflect the life we live on the inside of ourselves, how when we rest our minds they finally begin to work the way they were destined to and how solitude enables us to progress in our person al purposes in life. Van Gogh states, â€Å"It's Just simply my bedroom, only here color is to do everything, and giving by TTS simplification a grander style to things, is to be suggestive here of rest or of sleep in general.In a word, to look at the picture ought to rest the brain or rather the imagination† (545). Van Gogh shows all he intends to through color, life could not exist in black in white, and nothing would be unique. He uses these bright colors in his unique signature pattern to portray how different ones imagination can change something so simple. It's still simple, Just more valuable, it's customized. This shows how materials can never prove who we are, imagination sparks from rest and prospers from ourselves.

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

Come and Go Back :: essays research papers

The book I read is called â€Å"Come and Go Back†. This book was written by an anthropologist by the name of Joan Abelove whom lived in a village like the one in the book to study there culture. She wrote this book to explain to people through a story how there way of life is and some things which she experienced when she was there. This book is under fiction and is referred to as realistic. This book is based on events that took place in the 1970’s. This book was printed in 1998 in the United States of America; it is a Los Angeles time’s book prize finalist.   Ã‚  Ã‚  Ã‚  Ã‚  Alicia lives in the Brazilian Rainforest. Her people are visited by two anthropologists named Joanna and Margarita. These women are called old ladies by Alicia's people even though they are only in their late twenties. They are asked to stay for a year. During the visit Alicia and the anthropologists come to respect each other's cultures, which are very different. Her people believe that if you have something you must share it with everyone, and they don't believe in saving anything for another time.   Ã‚  Ã‚  Ã‚  Ã‚  The tribe gets upset when the anthropologists want to save some of the liquor they have for another occasion. They feel that the supplies the women have brought should be community property. At the beginning of the story Alicia doesn't want the newcomers to stay, but by the end of the story they have become good friends and truly regret the end of the visit. Also part of the story, Alicia is believed to be mature enough to have children of her own. Although she is still a young teenager. When Carmella, a young trader's wife in Alicia’s tribe, fears that her husband will kill their baby, Alicia volunteers to take care of the baby on her own. None of her people think that the baby is worth much, and they don't think it will survive since it is not fat. They call the baby a Nawa, but Alicia learns to love the baby she has agreed to care for.   Ã‚  Ã‚  Ã‚  Ã‚  In this story the author tried to educate people on how this tribe had different values, beliefs, customs and well just a totally diverse way of living altogether, but the simple fact that even though there way of life was different from us we still shared similar problems and feelings.

The Delusional Governess in Henry James The Turn of the Screw Essays

The existence of the ghosts in The Turn of the Screw has always been in debate. Instead of directly discussing whether the ghosts are real or not, this essay will focus on the reliability of the governess, the narrator of the story. After making a close examination of her state of mind while she is at Bly, readers of The Turn of the Screw will have many more clues to ponder again and to decide to what extent the governess can be believed. While critics like Heilman argue that there are problems with the interpretation that the governess was psychopathic, textual evidence incorporated with scientific research show that the governess did go through a period of psychical disorder that caused her insomnia, out of which she created hallucinations. In the prologue, Douglas gave a detailed account of the master from the governess ¡Ã‚ ¦s point of view. She regarded him as  ¡Ã‚ §handsome and bold and pleasant, off-hand and gay and kind; he struck her ¡Ã‚ ¨ (James 4). Later on we learn from Douglas that the governess accepted the job at Bly for the master ¡Ã‚ ¦s sake, and of course the generous salary offered by the master. Without any experience, the governess ¡Ã‚ ¦s passions for the master supported her to accept the job and confirmed her decision to take the challenge even though she feared not having the ability to accomplish the job.  ¡Ã‚ §The moral of which was of course the seduction exercised by the splendid young man. She succumbed to it ¡Ã‚ ¨ (James 5). With the love for the master, the governess had the courage to visit the master again and eventually took the job.  ¡Ã‚ §He held her hand, thanking her for the sacrifice, she already felt rewarded ¡Ã‚ ¨ (James 6). Her obsession with the master was somehow repressed owing to the absence of the master and the condi... ...ose cannot be the proof of the reliability of the governess. The issue whether the governess was insane or not may never be solved. Not only because critics seem to be able to find as much evidence as possible to prove their arguments but also, the reliability of the account of the governess colors the whole story with great ambiguity. We are not certain of the state of mind of the governess when she wrote down the story and when she related the story to Douglas. However, as we closely examine the state of mind of the governess, her reliability does appear to be in question. Beidler provided two readings of The Turn of the Screw and in the second one he declared:  ¡Ã‚ §the governess saw only what she wanted to see ¡Ã‚ ¨ (Beidler 9). She was so exhausted from her prolonged insomnia that she envisioned a story with ghosts for herself to fulfill her growth as a governess. The Delusional Governess in Henry James' The Turn of the Screw Essays The existence of the ghosts in The Turn of the Screw has always been in debate. Instead of directly discussing whether the ghosts are real or not, this essay will focus on the reliability of the governess, the narrator of the story. After making a close examination of her state of mind while she is at Bly, readers of The Turn of the Screw will have many more clues to ponder again and to decide to what extent the governess can be believed. While critics like Heilman argue that there are problems with the interpretation that the governess was psychopathic, textual evidence incorporated with scientific research show that the governess did go through a period of psychical disorder that caused her insomnia, out of which she created hallucinations. In the prologue, Douglas gave a detailed account of the master from the governess ¡Ã‚ ¦s point of view. She regarded him as  ¡Ã‚ §handsome and bold and pleasant, off-hand and gay and kind; he struck her ¡Ã‚ ¨ (James 4). Later on we learn from Douglas that the governess accepted the job at Bly for the master ¡Ã‚ ¦s sake, and of course the generous salary offered by the master. Without any experience, the governess ¡Ã‚ ¦s passions for the master supported her to accept the job and confirmed her decision to take the challenge even though she feared not having the ability to accomplish the job.  ¡Ã‚ §The moral of which was of course the seduction exercised by the splendid young man. She succumbed to it ¡Ã‚ ¨ (James 5). With the love for the master, the governess had the courage to visit the master again and eventually took the job.  ¡Ã‚ §He held her hand, thanking her for the sacrifice, she already felt rewarded ¡Ã‚ ¨ (James 6). Her obsession with the master was somehow repressed owing to the absence of the master and the condi... ...ose cannot be the proof of the reliability of the governess. The issue whether the governess was insane or not may never be solved. Not only because critics seem to be able to find as much evidence as possible to prove their arguments but also, the reliability of the account of the governess colors the whole story with great ambiguity. We are not certain of the state of mind of the governess when she wrote down the story and when she related the story to Douglas. However, as we closely examine the state of mind of the governess, her reliability does appear to be in question. Beidler provided two readings of The Turn of the Screw and in the second one he declared:  ¡Ã‚ §the governess saw only what she wanted to see ¡Ã‚ ¨ (Beidler 9). She was so exhausted from her prolonged insomnia that she envisioned a story with ghosts for herself to fulfill her growth as a governess.

Comparing William Wordsworths Composed Upon Westminster Bridge and Wil

Compare and Contrast William Wordsworth's Composed Upon Westminster Bridge and William Blake's London William Wordsworth and William Blake wrote poems about London, but they presented their views from different angles. Wordsworth sees the beauty in London and Blake sees only the ugliness. William Wordsworth's "Composed Upon Westminster Bridge" gives a step-by-step look at the awe-inspiring beauty of a London sunrise, whereas William Blake's "London" shows the dreary ugliness of London life by taking a stroll down London's streets. "Composed Upon Westminster Bridge" affects the reader with a sense of wonderment at the beauty that is created with a sunrise. London appears to be the most beautiful place on earth during a sunrise. The sun bathes the city in light and gives the reader a sense of purity and cleanliness. "London" affects the reader with an opposite feeling. The reader sees the unsavory side of London in the faces of its citizens. The citizens of London are unhappy with their lives, but they accept it with resignation. It is appalling how the Church uses the small chimney-sweeping children to clean the soot of London and the poor become soldiers that die for the monarchy. The purity and cleanliness of London is lost when young women become prostitutes. The death that falls upon a marriage is often transmitted through the diseases a prostitute passes on. A sense of anger is felt at a life that allows such sadness and darkness to fall upon the citizens of London. Wordsworth and Blake use different techniques in their poems to present their views. Wordsworth uses personification to bring the beauty of the sunrise to life. London takes on human traits with "This city now doth, like a garment, wear! The beauty of... ...y emphasizing the dreary bondage of the London citizens in "London." Wordsworth's use of imagery and rhythm places the reader in a calm and peaceful situation. Blake's use of imagery and rhythm places the reader in an angry tension filled situation. Wordsworth's readers have the wonders of a sunrise unfold before them and beauty is seen everywhere. Blake's readers become angry at the ugliness and unfairness of life and bondage and resignation are seen everywhere. Both authors achieved their tasks admirably. Works Cited Blake, William. "London." Literature: An Introduction to Fiction, Poetry, and Drama. Ed. X.J. Kennedy and Dana Gioia. 7th ed. New York: Longman, 1999. 729. Wordsworth, William. "Composed Upon Westminster Bridge." Literature: An Introduction to Fiction, Poetry, and Drama. Ed. X.J. Kennedy and Dana Gioia. 7th ed. New York: Longman, 1999. 1157.

Genie the Wild Child Essay

1) A case study is when researchers conduct in-depth investigations of individuals or of small groups. The EX POST FACTO method is an experimental research process, where the researcher manipulates the independent variable, while the dependable variable is controlled with the aim of establishing the effect of the independent variable on the dependable variable. There are many advantages and disadvantages to case studies. An advantage is that it can provide insight to specific cases. A disadvantage is that it may focus on isolated circumstances or events that cannot be replicated. Also a disadvantage is that people interviewed in case studies may distort their past experiences. 2) The scientists were trying to find out if people learn language from their environment or are they born with an innate ability to speak? They were also trying to find out if people can learn a language at any time in their lives or must they learn to speak when they are young? The hypothesis of their study was that she would not be able to come back to be a normal living human that is her actual age. 3) Genie spent nearly all of the first thirteen years of her life locked inside a bedroom strapped to a potty chair. She was a victim of one of the most severe cases of social isolation ever documented. Genie was discovered by Los Angeles authorities on November 4, 1970. Psychologists exhibited great interest in the case because of its perceived ability to reveal insights into the development of language and linguistic critical periods. Initially cared for in the Children’s Hospital Los Angeles, Genie later became the subject of bitter debate over where and with whom she should eventually live, moving between the houses of the researchers who studied her, to foster homes, to her mother’s house, and finally to a sheltered home for adults with disabilities in California. Funding and research interest in her abilities eventually ceased and she quickly regressed to her previous state. 4) I do agree with Genie’s treatment by all involved because in the end her treatment made it possible for many new inventions for children that might have possibilities like Genie’s. Her case study made many people think about how children are to be brought up correctly. If I was her teacher, I would try to help her while she is in class. I would also let someone know that I think that she could have some serious problems both mentally and at home. If I was her doctor, I would put her on medication. I would also tell authorities about what is wrong with her and how her home life could possibly be causing these problems. If I was her psychiatrist, I would let authorities know about what I think is going on at her home. If I was a social worker and I saw her, I would be really concerned and want to investigate to why she is acting the way that she was. If I was someone that wanted to adopt her, I would be ready for an experience of a life time and I would also be ready to have someone that needs lots of attention living with me. 5) Her behaviors and mental processes were unlike anyone around her age group. She was very much undeveloped. Researchers believe that this was caused from the lack of human contact. Also, because Genie was brought up in an environment that was not good, her verbal skills were very poor. At the age of 13 she only could understand about 20 words. The words that she did know were harsh and unusual for a little girl to understand. 6) The last time that Genie was found by someone was in 2000. At this time she was living in a privately owned facility for six to eight mentally undeveloped adults. I feel that today she should been someone that could show people what happens to children who are brought up in poor childhoods. 7) My connection to this specific case study is that people, who are brought up in â€Å"unhealthy† early lives, are going to have problems later on in their lives. There is not a specific case study that is similar to this one for many reasons.

Ernst Von Mansfeld Thirty Years

Thirty Years' War: Ernst von Mansfeld Ernst von Mansfeld was a German military commander in the Thirty Years War. Although he fought for the Protestant cause, Mansfeld was a Roman Catholic. He was considered one of the most dangerous opponent of the Catholic League. He was born in 1580 as the illegitimate son of Peter Ernst I von Mansfeld-Vorderort and Dorothea von Solms- Lich. In 1594 he served under Archduke Leopold. Then, in 1610 he Joined Frederick V and the Protestant Union. At the age 36 he led his first regiment of 2000 men.He fought for the Protestant Union until he died from illness in November, 1626. In the Bohemian Phase of the Thirty Years' War Mansfeld led an army of 2000 men, raised by the Duke of Savoy, to aid the Bohemian rebels. He successfully siege the Bohemian city of Pilsen in 1618. Mansfeld was defeated in the Battle of Sablat after being inactive for a while. At the Battle of White Mountain Masfeld and his forces were defeated, and in shortly after forced to su rrender Pilsen to the Catholics. Toward the end of the Bohemian Phase King Frederick V selected Mansfeld to lead is Bohemian troops.Following this he undertook Frederick's position in Upper Palatinate. He then moved into Rhenish Palatinate. This allowed Mansfeld to successfully defend against Johann Tserclaes, the Count of Tillys attempt at overtaking Bohemian rebel regiments. He also was defeated by Tilly twice. Mansfeld's troops were very destructive, not only to the lands of his enemy, but to the lands he was supposed to defend. During the Palatine Phase of the Thirty Years' War Mansfeld raised another of Frederick Vs armies in an effort to recover Palastine.The effort was a failure, because he was once again defeated by Tilly. Then Mansfeld was given an army of 12,000 men by James I of England. These troops were sent into the Dutch city of Breda as an attempt of relief for the Siege of Breda, but the troops were not permitted set foot on land, and Breda fell in 1625. Mansfeld le d the remainder of his army to Dutch lands, where they were once again defeated by Habsburg forces. Mansfeld continued to fght. He led his forces to Bergen-op-Zoom, a Dutch city seiged by the Spainish in 1622. This led to the relief of the city.Mansfeld spent 1624 and 1625 raising an anti-Habsburg army. He led this coalition in a march on Bohemia in 1626, but in a turn of events Mansfeld was forced to turn to Hungary. He intended on returning to his base after being defeated by Tilly once again. On his return home Mansfeld fell ill, and on November 29, 1626 he died in Bosnia. Mansfeld was a great force to be reckoned with during Thirty year's War. The Protestant Union can contribute much ot their success during the early phases ot the war. He was remarkable because he fought for the Protestant cause while remaining a faithful Catholic.

Bestbuy’s Strategy Essay

According to the case, BestBuy is trying to create a competitive advantage in three areas: customer-centricity, employment policies, and exclusive branding. After studying the VRIO framework, I have found that BestBuy’s three areas of strategy do fit into the VRIO framework. BestBuy believes that an effective strategy is a commitment to customer-centricity. A business that implements customer-centricity caters to specific customer needs and behaviors. According to the book, BestBuy wants to steer away from a product-centered marketing approach to a more customer-oriented marketing approach which will have them asking what problems its customers are facing, and then providing solutions. Furthermore, BestBuy wants to segment its customers into four different profiles: Upscale Suburban, Urban Trendsetter, Empty Nesters, and Middle America. In different regions around the U. S. you will find these diverse groups. BestBuy has been able to utilize the rare attribute of the VRIO framework with its ability to serve the needs of the predominant customer segment in a given region. BestBuy is unlike any company in the consumer electronic industry because as the book mentions, â€Å"Nearly all companies claim to be customer oriented, but being customer centric required a radical reorganization and shift in employee mindset. † BestBuy has reformatted the physical space in its stores and related products have been bundled together to meet the needs of certain segments. Store teams have also been trying to answer the following questions: What kind of traffic do we have coming in our stores today, how effectively are we selling to the people in the stores, what does our customer information look like, what segments do we have coming in, and what kind of market share do we have for those segments? To answer those questions BestBuy has been investing in the right tools so that the field knows what to focus on. BestBuy has taken customer interest a step further, and so far it has given them a rare advantage. BestBuy has also done a good job of organizing its employment policies to capture value. According to the book, BestBuy has set up an employee listening program that uses open communication to better understand the needs of its workers. This program has done a great job of exploiting the company’s capabilities because it is implementing tools such as annual company-wide surveys, a virtual discussion board, and one-on-one dialogue sessions. BestBuy is capturing value because they are listening to their employees and discerning information that was previously unknown to management. The final area that BestBuy is focusing its strategy on is exclusive brands. This last area is very important to BestBuy because it is valuable, rare, and costly to imitate. BestBuy currently owns these private labels: Insignia, Dynex, Init, Rocketfish, and Geek Squad. As far as background goes, Insignia produces TVs, monitors, home-theater systems, and portable video/ audio players. Dynex produces storage media, data and power cables, webcams, and office supplies. Init produces media storage, equipment bags, totes and furniture for home theaters. Rocketfish is a top notch producer of cables that are mostly used for TVs. And most famously, Geek Squad provides computer repair and installation services. BestBuy realizes that they cannot solely rely on these small private labels to create, on their own, enough revenue to stay in business. But nevertheless, these private labels are valuable because they add attractive features to the company. Most of the products offered by these small labels are accessories that add value to the more expensive products which in turn increase the profitability of BestBuy. In particular, I think Geek Squad is valuable because a lot of older people do not know how to set up the more complex electronics and often run into problems. Easy-to-setup installation and troubleshooting is a very attractive feature to most consumers. Along those same lines, these small labels are rare because their products are only being sold in BestBuy stores. If you’re a huge fan of Rocketfish cables or really appreciate the helpfulness of Geek Squad then you have to come to BestBuy to get you want. These private labels are also costly to imitate I imagine because it could be costly to implement and staff a repair and installation service in all of your stores like BestBuy has done with Geek Squad. Also, these private labels have a few unique products that could be hard to replicate. I know that Init has created some nice, high quality equipment bags and furniture for home theaters. I believe that after weighing the benefits of all three of these areas that BestBuy has indeed created a competitive advantage. In one way or another they have valuable, rare, costly to imitate, or are organized to capture value with their products and services. BestBuy’s business level strategy is to focus on its people through customer centricity and employment policies. The managers in both areas want to listen to the people and discern how to best appeal to them. Managers have planned to become customer centric by profiling its customers and then design the stores and provide products according to the profiles in the region. The cost driver associated is the cost of input factors because it requires a radical reorganization and shift in employee mindset. Stores need to be reformatted and related products need to be bundled. The main value driver for this focus has been customer service. BestBuy has excelled at customer service because they are able to identify customer needs and appeal to their wants because of the unique profiles that have been created. The main cost driver for employment policies has also been cost of input factors because I imagine it has been costly to implement the new annual company-wide surveys, a virtual discussion board, and one-on-one dialogue sessions. The main value driver for the employment policies is customer service. BestBuy has created distinctive techniques for company-wide communication that in turn provide better customer support. Managers now know what the consumers are thinking because the employees are able to share information with their superiors in an efficient way. The competition between BestBuy, Amazon, Apple, and Wal-Mart has been fierce over the last several years. BestBuy has found itself to still be at the top of consumer electronics in the minds of its customers with 40% of the votes. However, BestBuy comes in 11th place in the Top 15 most valuable retail brands. Furthermore, Apple has recently made a large push in the race by reaching $2. 8 billion in sales in 2010 which puts them in third place behind BestBuy and Amazon. However, BestBuy is in last place according to share performance in 2010 and 2011. After looking at all of the different results and surveys I would say that BestBuy is right in the thick of things and battling for the top spot. Amazon may be more a valuable company but the consumers still view BestBuy as the leading consumer electronic company. One of the critical problems facing BestBuy is people coming into the store and testing the products and then leaving and buying the product elsewhere. I think that BestBuy’s strategy to become customer centered is a good strategy. Many of the same products are sold by multiple companies, but if BestBuy can appeal to the segments and profiles of people coming into their stores then they can get people to buy the products in their stores. Identifying the profiles of people coming in is the first step and then being able to bundle products and arrange displays in an appealing way is a good strategy. If BestBuy continues to value its consumers I think they will find a way to sustain a competitive. After all, people want to feel important and be given what they need and desire.

Coca Cola – Organization Management

Abstract This paper is about â€Å"Coca-Cola† company which produces and manufactures soft drinks, and this product is well known all around the world for many decades. The materials used to get the information about the company are from the internet, newspaper and the bottle itself. The paper will speak about how the product came to the final result as an output and what does it take to manufacture it. INTRODUCTION Coca-Cola is the most popular and biggest-selling soft drink in history, as well as the best-known product in the world.It is sold in more and more markets, creating thousands of new jobs in the local economies. The brand is owned by The Coca-Cola Company which works with franchisees across the world. These franchisees perform the bottling and canning operations and are also known as packagers. This paper will discuss the following: * What are the stages of manufacturing? * How does the company guarantee the quality of the products to reach customers satisfaction? * What are the steps after guaranteeing the product so that the product to be introduced to the markets? * Conclusion * Important keywords – Stages of manufacturing -Transforming resources Coca-Cola’s bottlers and canners are concerned with a range of processes involved in transforming resources into the bottles and cans of drink that we are familiar with. There is a difference between transforming resources and transformed resources: * The transforming resources are the managers, employees, machinery and equipment used by The Coca-Cola Company and its franchisees. * The transformed resources are the materials (the cans, bottles, liquids, etc. ) and the information which are processed to create the finished product. Manufacturing Coca-Cola Primarily, Coca-Cola is manufactured by franchisees who are the world’s leading bottling and canning companies. This franchise business is strictly controlled by The Coca-Cola Company. Soft drinks manufacture is a competitive business. Manufacturing techniques are continually improved. This helps meet the highest quality standards for its products using the most cost effective production techniques. For example, very small changes in the shape of the can could save a canning factory millions of dollars in production costs. The production of Coca-Cola involves two major operations: Creating the packaging material * Bottling and canning the finished drink. -Packaging For many years, Coca-Cola was produced in glass bottles. Because of the high cost of distributing bulky bottles, they had to be manufactured close to where the bottling took place. Today, this is no longer so important since new packaging methods have revolutionized the process. Advanced bottling and canning technology makes Coca-Cola cans and bottles very light but extremely strong. The Company has invested a lot of time and money in research and development to ensure the most effective life cycle impact of its packaging.By using the minimum quantities of materials in packaging, the cans and plastic bottles are simple to crush or to reprocess at the end of the initial life cycle. -Preparing to fill cans Cans are delivered in bulk to a canning plant. At this stage the cans are shaped like an open cup ready to receive the liquid drink. They are not fully formed because the ring pull end has still to be fitted. After they have been inspected to check that there are no faults, each can goes through a rinsing machine to make sure it is clean and ready for filling. Preparing the drink Coca-Cola consists of a concentrated beverage base and a liquid sweetener which are combined to form the syrup from which the drink is made. The Company ships the concentrate to bottling and canning plants where the franchisees mix it with sugar and local water. The water is passed through a number of filters to make sure it is absolutely pure. Carbon dioxide, which makes it fizzy, is also delivered to the canning plant where it is stored and th en piped into the manufacturing process through a carbonator and cooler.The Company specifies what equipment franchisees will use to carry out these processes. Samples are taken regularly for chemical analysis, and staff makes frequent spot checks to ensure that plants are maintaining the Company’s standards of cleanliness and quality. The Company provides its franchisees with the most up-to-date technology available and many of them use the latest computer technology and statistical process control methods. -Filling the cans The packaging and the finished drink are combined by a rapid filling process.Every minute hundreds of cans pass along an automated production line and are filled with a precise amount of Coca-Cola. As the cans move along the production line, they are seamed to include the ring pull end and produce the finished can. The ends are inspected to make sure they are smooth and do not have any gaps or leaks. An individual code is stamped on the cans so that each one can be traced back to the point and time of production. A date code ensures product freshness. Cans now look like those you will see in the shops. – Guaranteeing the quality of the product The manufacture of Coca-Cola is carried out by a set of processes called continuous flow production. On a production line, a process is continually repeated and identical products go through the same sequence of operations. Continuous flow production takes this one step further by using computer-controlled automatic equipment to produce goods 24 hours a day. The Company and its franchisees use Total Quality Management procedures that encourage everyone in the plant to think about quality in every-thing they do.Every employee sets out to satisfy customers and places them at the heart of the production process. By continually seeking to improve every aspect of production, employees are able to eliminate problems. Throughout the production process, quality control personnel monitor the pr oduct and take test samples. Guarantee that there are no errors; quality control inspectors take statistically selected samples at the end of the production line. Using chemical analysis, these inspectors can guarantee that the product meets the exact specifications; they also check that there are no faults in the packaging.A ‘fill height detector’ uses an electronic eye to ensure that the cans are filled to the right quantity. Cans that are not properly filled are rejected. 3- Introducing the product to the markets Packing the end product into cases The canners then prepare the cans for distribution to retailers such as super-markets, shops and garages. A machine called a case former creates the casing that protects the cans as they are sorted onto pallets. The cans are stored temporarily in a warehouse before they are collected by large distribution trucks. Bottling Coca-ColaSo far this case study has focused on the canning process for Coca-Cola. The bottling process, whether in glass or PET (plastic), is very similar. Each plastic bottle starts as test-tube size is blown up like a balloon into the final bottle shape. Whereas franchisees receive cans that already have the logo and any promotional details on them, bottlers apply the labels from large reels once the bottles have been formed. At the end of the bottling line, bottles are automatically sealed with a cap immediately after they have been filled. Just-in-time Canners and bottlers process vast quantities of materials each week.Receiving the raw materials and delivering the finished products involves a complex sequence of actions. The ideal solution is to make sure that the inputs for the process arrive ‘just-in-time’ so they can be transformed into a finished product ready for transportation ‘just-in-time’ to meet the needs of the retailers. At modern canning plants, the cans maker is often located in an adjoining facility, with delivery through a ‘Hole in the wall’ operation. The packagers are involved created supply chain networks with the supermarket chains and other outlets ensure that this process runs smoothly.Canners and bottlers must ensure that they do not build up large stockpiles of cans waiting to be sold but they must also make sure that deliveries are not late. This is where they benefit from advanced information technology that rapidly relays figures about the demand for Coca-Cola. For example, this demand usually rises in periods of hotter weather so the packagers need to plan increased production. Canners and bottlers work closely with The Coca-Cola Company and other suppliers to provide a smooth running supply chain so that consumers are always within ‘an arm’s reach of desire’ and can always buy a drink when they want one.Performance feedback to canners and bottlers In addition to each canner or bottler’s own quality assurance procedures, sample bottles and cans from each market ar e tested regularly by The Coca-Cola Company. The results are then reported back to the packagers. This feedback helps The Coca-Cola Company and the franchisee to work together and identify opportunities for improvement. Franchisees undergo constant training and retraining in quality assurance, and can always ask for help and advice about ongoing improvement. 4- ConclusionTo produce the world’s best known product, The Coca-Cola Company has to employ the highest quality processes and establish standards which guarantee the production of a standardized product which meets consumers’ high expectations each and every time they drink a bottle or can of Coca-Cola. In order to guarantee these standards the Company has had to develop a close relationship with its franchisees based on a mutual concern for quality. Total Quality management lies at the heart of this process involving a continuous emphasis on getting quality standards right every time and on continually seeking new ways to improve performance. – Keywords Continuous flow production: An ongoing twenty-four hour production cycle in which partly finished and finished products pass along a production line. Cost effective: It’s an approach that minimizes or significantly reduces the cost of operations. Franchisee: An individual (Or organization) that is licensed to produce and/or sell a named product in a given area, in return for a fee, a share of the profits or sales. Global brand: A product that is recognizable across the world by its logo, packaging or distinctive trade mark. Inputs:They are Materials and labor that go into a production process. Just-in-time: Supplies for manufacturing processes are received just as they are needed, and the end product reaches the consumer just when it is wanted. ‘Just-in-time’ reduces the need to carry large stocks of materials or finished goods helping cash flow. Life cycle impact: Examining the impact of a product from the point at which the raw materials start to be produced and assembled, through the manufacturing process, right up to the time at which the consumer finally disposes of the packaging of the product. Operations:The processes involved in the production of a product, such as filling a can, checking that the can is sufficiently filled, etc. Outputs: Goods and services that are produced once raw materials have gone through a transformation process. Performance feedback: It’s about providing information on the success of performances so that improvements can be made. For example, if a weakness is spotted in quality standards, then it would be necessary to inform the packager so that these could be rectified immediately. Statistical process control: The use of mathematical and statistical control processes in the manufacture of products e. . by measuring quantities of fluid used in given processes, measuring quantities of materials used, etc. to ensure that inputs and outputs always meet spec ified quantitative standards. Supply chain: It is the chain of processes that links a manufacturer through a distributor to a customer. Total Quality Management: It is an approach that ensures quality at every stage of production, rather than just at the end of the production cycle. Transformed resources: They are resources, such as raw materials and information that are modified in the process of production by the transforming resources.Transforming resources: They are resources that are used to transform other inputs. ——————————————– [ 1 ]. http://businesscasestudies. co. uk/coca-cola-great-britain/making-the-worlds-best-known-product/transforming-resources. html#axzz2EDxPK7W6 [ 2 ]. http://businesscasestudies. co. uk/coca-cola-great-britain/making-the-worlds-best-known-product/manufacturing-coca-cola. html#axzz2EDxPK7W6 [ 3 ]. http://businesscasestudies. co. uk/coca-cola-great -britain/making-the-worlds-best-known-product/packaging. html#axzz2EDxPK7W6 [ 4 ]. http://businesscasestudies. co. k/coca-cola-great-britain/making-the-worlds-best-known-product/filling-the-cans. html#axzz2EDxPK7W6 [ 5 ]. http://asq. org/blog/2011/11/coca-colas-quality-culture/ [ 6 ]. http://www. supplychaindigital. com/warehousing_storage/supply-tech-coca-colas-plantbottle [ 7 ]. http://www. supplychaindigital. com/warehousing_storage/supply-tech-coca-colas-plantbottle [ 8 ]. http://www. studymode. com/subjects/coca-cola-just-in-time-case-study-page1. html [ 9 ]. http://businesscasestudies. co. uk/coca-cola-great-britain/making-the-worlds-best-known-product/performance-feedback-to-canners-and-bottlers. html#axzz2EDxPK7W6