Conflict is the essence of drama Essay

The effect of conflicts in drama is profound, and conflicts contribute to a great extent in making drama attractive for audience to watch. Conflict basically forwards drama, while in the meantime it leads to changes that attract audiences as it progresses through time. Conflict shows character, their realizations, and also realizations of audiences, all of which make drama interesting to attract audiences. It projects meanings and gives vividness to drama, thus it makes drama interesting in order to attract audiences. Conflict forwards drama by introducing changes that keeps the audiences sited. Audiences find an unchanging play that follows routine to be boring and hopes to find differences. Thus, changes are necessary in drama for it to demand a reaction from the audiences that’s maintained, so that they can keep focused to the play. In Oedipus, changes occur from the beginning of the play to the end. Oedipus doesn’t go through a normal life as being a king or live a happy life with his wife, but experiences through a catastrophe that influences his life. Critical changes are brought out by conflict at certain moments and introduce newness to drama, for example when Jocasta discovers that Oedipus is the child she sent years ago. The conflict is within Jocasta herself, of sinfully being both a wife and mother of Oedipus. Also the conflict is between her and people of Thebes, including Oedipus, where the normal relationship has been destroyed. These two conflicts mean a dramatic change in Jocasta herself, and for the play, as it moves on acknowledging the effects of these changes. Similarly, in â€Å"Macbeth†, changes are brought out throughout the play, enriched by conflicts within characters, such as Macbeth, and conflicts between characters, such as between Lady Macbeth and Macbeth. The two monologs of Macbeth shows his inner conflict between his consciences and his ambition, which slowly drives him towards murdering the king. The vast change in his inner mind based on the conflict sets the basis for the play and leads to the potential consequences that happen later. Conflict between Lady Macbeth and Macbeth occurs when Lady Macbeth accuses her husband of not being a man to have the courage murder. Changes are brought out as Macbeth becomes more firm and aggressive towards the murder, which then affects direction of the whole play by moving closer towards the murder and gives the audiences anticipation towards th e killing. This brings a sense of delight in the audiences to keep them focused to the play. By having conflicts which leads to changes, drama is forwarded along with the reactions from the audiences. At the same time conflict forwards a play, conflict also shows character of the characters. In â€Å"Oedipus†, conflict is presented between characters such as between the Terisias the priest and Oedipus. The technique of stichomythic dialogue is used when the two have a conflict in their conversation, to show the characters’ emotions, especially Oedipus’s pride. Short, fast sentences are used when Oedipus hears Teiresias’s accusation on him, he says â€Å"Shall I bear more of this†¦Ã¢â‚¬  and Teiresias answers â€Å"I will. The stichomythic dialogue shows Oedipus’s jealousy and his tyranny behavior. By being not able to see the warning language of Terisias, he’s also shown to be arrogant. His conversation with Creon further shows his arrogance and hubris. Again, stichomythic dialogue is used when Oedipus says â€Å"By no means. I would have you dead, not banished† and Creon answers â€Å"if you can show in what way I have wro nged you†. In â€Å"Macbeth†, conflict within Macbeth himself shows his character. In Shakespeare’s portrayal of Macbeth, there’s resolution and irresolution, there’s decision and indecision, all which describes his character. During the two long monologs, his relentless ambition fights with his conscience, showing the opposing two sides of his inner character. When Macbeth sees the dagger hanging in front of him, he mentions he thinks not of them and that â€Å"there’s no such thing†, but it is indeed ironic because he’s mind is actually focused on them. The irony shows his character, the fighting between trying to remain conscience by not thinking of them and murdering the king. He mentions the dagger as a â€Å"false creation†, but in his deep heart desires to use it. Along with showing character, conflict shows their realizations, and more, makes also the audiences to realize. With â€Å"Oedipus†, audiences realize the effect of hubris of people, after seeing how Oedipus experiences his downfall. Audiences realize how the dominating emotions of arrogance, jealousy, pride affect Oedipus in refusal to recognize his wrongness. The paradox of Terisias of being physically blind but sees things correctly in terms of morality further contrasts with Oedipus’s emotion, and further encourages the audiences to realize hubris. Although in â€Å"Oedipus†, realizations happen while the audiences have a certain outline, some knowledge on the play, audiences still experience the play differently, since it is live. However, this is not true with â€Å"Macbeth†, as history of the play is made up as going along. Audiences realize the consequences of Macbeth after murdering the king by seeing that, in the end, he dies in the battle. Characters themselves also have realizations in drama, usually at critical moments where conflict makes the play changes its plot dramatically. Oedipus’s realization of him being the son of Laius comes slowly, but also catastrophically. Again, the tension of the realization is built up using stichomythic dialogues. Oedipus realizes that he can never go back to where he was. His conflict lies in that he wishes to return to being the king as before, but the truth does not allow him to do so. Similarly, In â€Å"Macbeth†, realization of Macbeth comes with his action of murdering the king. There is clearly a feeling of being scared of others discovering their actions inside Macbeth and Lady Macbeth after murdering the king, as they rhetorically question the noise of the surroundings. Also, Macbeth mentions† I’ll go no more. I am afraid to think what I have done†, suggesting he realizes the dangers that would occur to him if his actions were discovered. Conflict in drama projects meaning, though it might not project a resolution to the problem at the end of the play. The end of one conflict in the play doesn’t necessary mean that there will be no future conflicts. In â€Å"Oedipus†, the fall of Oedipus doesn’t indicate the problem of the nation has been solved, but on the contrary, there might be other arrogant tyrants like Oedipus in the future. However, the story of â€Å"Oedipus† somehow teaches the audiences to be morally good, therefore it has a meaning. Similarly, in â€Å"Macbeth†, the tragedy of Macbeth and Lady Macbeth teaches audiences to realize that following a path similar to them will lead to destruction. Duncan’s speeches of gracefulness, loyalty, honor, honesty and integrity are meant to project moral rightness, therefore to teach morally. Still, there’s no final resolution at the end of the play and it may mean that there will be other tyrants like Macbeth in the future. However, the play itself has projected meanings which, attracts audiences to watch it because simply no one would be interested in a play with no meanings. In conclusion, conflict does not only perform the basic functions for drama, such as forwarding the play, but conflict’s main effect is that it makes drama more interesting, which is essential to attract audiences. Changes are brought out by conflict that introduces something different, and something new. Also, characters in drama are shown vividly through conflict. Conflict projects meaning, create realizations of the audiences and characters, with all of this, it makes drama fascinating and irregular.

Feminization of Poverty Essay

Researching Feminization of poverty was quite interesting. I read all the different opinions on the internet, the student forum and articles about it as well. As I feel strongly about the subject I had already formed my opinion about it. Coming from a not so great upcoming when I was young I always analyzed women’s actions and the reasons why most women my mother and the people she associated with were under the poverty line. I came up with three very specific reasons, one relation with men, two low self-esteem, and three uneducated. My mother actually possessed all three. I have till the day I can remember have always observed women and their relationships with men and studied what I thought they did wrong and what I thought they did right. I would see my mom give in quickly to my father even though she was right in the situation and that caused rifts in the relationships that will ultimately jeopardize finances and in return cause many other issues in the household from havi ng to budget and find different resources to accommodate the needs of what wasn’t being met at home. Even though that meant my mother going to churches for charity for clothes, shoes, gifts for holidays and rent assistance just to keep a couple of extra bucks in my father’s pocket. Secondly, Self-esteem it seems kind of unruly but it definitely fits in to the equation if you think about it. Self-esteem stopped my mother and others she associated with to go out and seek better opportunities. Not having perfect teeth, suitable clothes, or being groomed a certain way can lower your self-esteem to the point where you doubt yourself in to being able to get that position which leads to settling for what you have and in return you do not better your life or are able to teach your children that you can achieve whatever your heart desires in life. Lastly Education, my mother and others she knew did not have sufficient or any education to advance into any new positions or give them the ability to apply for a better position else were. Not knowing or not advancing in a career can leave you stuck in a dead end job for years and ultimately leave you wondering where have all the years gone by? Although many may read this and think that I am putting women at fault for everything involving feminization of Poverty. I can only help but see the facts as a person who has been through it and has made the efforts to change that cycle I can only express my opinion and wait for  someone to prove me otherwise.

Future Concerns †Gattaca and Fahrenheit 451 Essay

Popular fictions texts expressing views of the future educate audiences about current issues and the dystopias that develop from them. Texts such as the film ‘Gattaca’, directed by Andrew Niccol and novel ‘Fahrenheit 451’ by Ray Bradbury explore futuristic societies and the implications that become of their innovation. Although entertaining, texts such as these are didactic and must be taken seriously, as they communicate messages to audiences regarding prevalent concerns and possible futures based on society’s choices. Gattaca’ (1995) directed by Andrew Niccol, follows the story of the underdog Vincent, who is challenged by genetic discrimination against ‘in? valids’ like himself. Through an elaborate identity switch and the help of ‘genetically advantaged’ Jerome, Vincent prevails to achieve his dreams and find his place at Gattaca Space Station. Niccol utilises conventions of film to convey messages to the audience by highlighting issues relevant to the context of production. Gattaca’ incorporates many themes which highlight the corruption and inequality in this strange, new world. Niccol explores concepts such as elitism, perfection, inequity and modernism. This film opens with two contrasting epigraphs, which entices viewers’ interest into moral themes in ‘Gattaca’. The first quote reads: â€Å"Consider God’s handiwork; Who can straighten what He hath made crooked? † Ecclesiastes 7. 13. An interpretation of this quote is that life is intended to be left alone to take its course, which is contradictory to many ideas in ‘Gattaca’. The quote following reads: â€Å"I not only think that we will tamper with Mother Nature, I think Mother wants us to. † Willard Gaylin. This presents audiences with differing opinions to contemplate as they consider what scientific advancements their own future holds, watching Vincent in his. The opening scene is an extreme close up shot of Vincent’s fingernails, hair follicles and loose skin, against a blue cubicle. The extreme close up shot suggests importance as the camera focuses in on the subject matter, emphasising the significance of Vincent’s DNA. Sterility and cleanliness is suggested by the use of cold, deep blue hues. The use of blue is constant throughout the film, as is the significance in detail. These concepts tie to other scenes, such as ‘The Eyelash’, where Vincent’s own ‘invalid’ eyelash is discovered during a murder investigation. This concept highlights the precision of technology in the future, and that life with such structure becomes complicated. Audiences can learn lessons from examples such as these scenes s they can relate the situations Vincent is put in with possible futures based on the direction society is heading in present times. Another effective technique demonstrated by Niccol is the first person narration by the central character, Vincent. This is important for the development in the movie, as Vincent is the protagonist we are encouraged to empathise with. Therefore, the use of bias narration and perspective is effective in supporting the ideas presented in the film. Following the opening scene is ‘The Not Too Distant Future’, which cuts to a low angle shot looking up to the bold, symmetrical lines of the building. In this shot, Gattaca is shaded in black and grey tones, also indicating the power and formality of the institution. As the camera tilts down, the strong lines and colouring remain constant as view of the staff are also brought into the frame. Directors have dressed actors in blue business suits, again, enforcing the concept of formality, conformity and sterility. The uniformed staff are very bland and indistinguishable from one another in their uniformed clothing. Silence is broken by the rising volume of diagetic sound effects, such as the beeping sound of accepted ‘valids’ through the turnstile, as well as an anonymous greeting by a placid female voice: â€Å"Welcome to Gattaca†. These techniques develop the idea that society has become lifeless and ‘black and white’, as Gattaca presents characters as clinical and robotic products of genetic modification, teaching audiences about social issues that relate to futures.

Global Warming In Ohio Essay Example | Topics and Well Written Essays - 1000 words

Global Warming In Ohio - Essay Example Global Warming In Ohio Carbon pollution is seen to be one of the greatest contributors to the issue of global warming. It has been observed that the single major source of this pollution are the power plants that use coal as a fuel to produce energy. Not only that, but statistics have shown that the state of Ohio has a share of 20 percent among the carbon polluters in the United States ("Blade"). The major dilemma of the community is that even though this piece of information is now a widespread fact, there is no imposition of any sort of federal limits on the rate and quality of the emissions from these power plants. For many years, the government has been unwilling or rather said to be least bothered about implementing any kinds of measures that would help in solving this issue. With the increase in the population and hence, the demand of fuel in both commercial and domestic sectors, coal power stations continue to spring up every now and then all across the state. This coupled with the government’s ignorance simply happens to add fuel to the fire of global warming. Any guidelines or standard measures proposed by organizations dedicated towards protecting the environment have more or less been ignored up till now. Little has been made out of those that have been considered worthy enough to act upon since the rate of pollution is much higher than their capacity to deal with.

Business Theory Essay Example | Topics and Well Written Essays - 2000 words

Business Theory - Essay Example As the IS curve shifts to the right the goods market will clear on a new equilibrium level E2 increasing the interest rates and the level of income. As the IS-LM model is based on the assumption of continuous market clearance in the assets markets the adjustment path is along the LM curve, as depicted in the figure below. Through the increase in the government expenditure the private investment spending falls since the interest rates get higher changing the formation of output with the increased share of larger public sector. The decrease in investment spending with an increment in the government expenditure is regarded as the notion of crowding out. With more crowding out the fiscal policy becomes more ineffective. This can be understood as, the more interest rates rise in response to the increase in government spending the more crowding out will occur and the less effective fiscal policy will be in expanding the economy. This can be graphically understood as the steeper the LM curve the greater the crowding out effect. As we know that the slope of LM curve shows the interest elasticity of the demand for money. A steeper LM curve shows that the increase or decrease in the rate of interest does not effect the demand for the real balances. For instance, the less responsive the demand for real balances to changes in interest rates the steeper the LM curve. This leads to a conclusion that in case of significant crowding out the demand for money is not affected by increase or decrease in interest rates. In this particular situation the Government can increase spending by financing it through lower the price of its bonds and hence raising the interest rate. The slope of the IS curve also depicts the effects of expansionary fiscal policy. The effects of expansionary fiscal policy also depends on the size of the shift in the IS curve arising from the government spending increase. Complete Crowding Out A vertical LM curve depicts the complete crowding out. When the LM curve is completely vertical it means that

Industrial Relations in Asia-Pacific Region Research Paper

Industrial Relations in Asia-Pacific Region - Research Paper Example Multinational firms prefer the former country over the latter because of its superior infrastructure, population strength and per capita discretional spending. However, these firms generate positive as well as negative impacts over the local labor markets, through wage, export and productivity spillover effects. Multinational business firms have created greater job opportunities in the industrial and tertiary sectors of China and Indonesia. The labor rights of these countries have achieved global standards. However, many foreign firms outsource laborers through contracts and hence generate employability in a volatile pattern. Finally, the paper has evaluated that the labor force is managed for creating the biased, asymmetrical and perplexed response to the international firms. These responses can affect the local labor markets positively or adversely.  A labor market is a destination where the employers and workers relate to each other (Bama, 2004). In such a market, the employers intend to hire the best workers and in turn, the employees compete against each other to get the most satisfying job (Bama, 2004). In a modern economic system, the labor market operations are determined by the aggregate supply and demand for labor. However, the strength of employment demand and supply depends on the changes in the bargaining power of the employers and the employees. Flexible labor markets accompanied by low welfare costs are the primary symbols of economic growth in a nation. Social welfare is maximized under perfectly competitive market but the modern economies are governed by mixed economic principles.

Current strengths and weaknesses of the Microsoft company Assignment

Current strengths and weaknesses of the Microsoft company - Assignment Example Communication and innovation is not prioritized within the organization. Despite the popularity of handheld devices, the demand for computers in the united sates and across the world continues to grow. In this regard, it is realized that the future prospects for the organization are still good. Apple and Linux certainly threaten the large market share presently held by Microsoft. Indeed, the popularity of the products from these manufacturers continues to grow and there is a strong indication that Microsoft cannot continue to hold the 88% market share (Phelps, 38). Fluctuations in the exchange rates across the world greatly affect the demand for the software in certain countries. The fluctuating currencies greatly affect revenues from the organization especially in the international markets. It is presently realized that some hardware manufacturers like Oracle, Sun manufacturers, and IBM have collaborated with new platform technologies thereby greatly reducing the demand for windows (Stross, 45). In the same way, some of the hard ware manufacturers issue software application with their hardware sales. This means that Microsoft’s products do not apply in such

Cause-Effect Analysis Essay Example | Topics and Well Written Essays - 1000 words - 1

Cause-Effect Analysis - Essay Example Through the emergence of these technologies, the sources of reading have increased to include e-learning, e-mail, e-papers, chat rooms messaging and blogs (Miedema, 2009). Majority of the teacher educators, classroom teachers and researchers in the field of education have agreed that engaging in voluntary and school-related readings is essential for all the students. They include those pursuing reading for development of academic achievement purposes (Miedema, 2009). This essay focuses on establishing the effects of the emergence of internet and television as examples of current trends in technology to the reading behaviors of students. Additionally, the paper explores whether the time spent by the students on the internet and watching television interferes with the time the students uses in both academic and recreational readings. Lastly, the essay offers recommendations on how to avoid the new forms of technology from interfering with individual reading habits and skills. Several researches have been conducted in America to determine the cause of declining statistics of American youths and adults who participate in voluntary and achievement reading. The intriguing study resolved that most american youths and adults have ceased from the active participation in reading as compared to others in the previous years. Further to that, the research showed that very few American youths are engaging in reading helpful literature. The statistics are alarming since they have negative implications on the civic, social and economic status of the country. Additionally, most people are unable to recall what they read in a given period. Consequently, it results to downgrading the aspects of good reading habits (â€Å"Programme for International Student Assessment., and Organization for Economic Co-operation and Development†, 2010). Many researchers have been conducted

Risk Manahement Essay Example | Topics and Well Written Essays - 1500 words

Risk Manahement - Essay Example These strategies are forward contracts, futures contracts, swaps, call options, collars etc. All these strategies have significant strengths and weaknesses, which needs to be efficiently balanced by firms. This paper illuminates the impact of commodity price risk on the firms as well the significance of hedging such risk. It also analyzes different hedging strategies used by companies and their strengths and weaknesses. Hedging constitutes one of the most important financial decisions of any firm. It refers to different ways through which a company can minimize its exposure to various kinds of risks. Fuel represents a crucial cost in the total airline expenditure and thus fuel price risk has a great impact on the earnings and cash flows of airlines. Any drastic increase in oil prices can adversely affect cash flows. Effective hedging strategies are imperative for airlines to minimize the variability of cash flows due to volatility in oil price (Carter, Rogers. and Simkins, 2003). This is why almost firms use various hedging strategies to protect their cash flow from variations resulting out of oil price fluctuations. Froot, Scharfstein and Stein propound that "if a firm does not hedge, there will be some variability in the cash flows generated by assets in place." (1993, p. 1630) A non-hedging airline is also likely to be greatly vulnerable to any change in fuel market price. Because of effectiveness of hedging in commodity price risk manageme... that "for a given level of debt, hedging can reduce the probability that a firm will find itself in a situation where it is unable to repay that debt." (1993, p. 1632) This is one of the greatest benefits of using hedging strategies to manage commodity price risk. These strategies assure management that even if the commodity price moves in the unfavourable direction, it will not have a great impact of firm's earnings and cash flows. Forward contracts are the most common hedging strategies used by firms. Southwest airlines managed its exposure to oil price risk in the year 2005 with the help of forward contracts and successfully enhanced its earnings. On the contrary, in the same year other airlines like Delta and United Airlines faced great difficulties. However, there is high credit risk involved in hedging strategy using forward contracts. Froot, Scharfstein and Stein elaborate that "because they are not settled until maturity, forwards can involve substantially more credit risk than futures." (1993, p. 1649) Forwards have a distinctive feature as compared to the futures contract that they cannot be settled before maturity date. Hence, on one hand forwards strategy helps firms to considerably minimize their exposure to commodity price risk, it also leads to significant credit risk. Futures contract is another most commonly used strategy that firms can use to hedge against the commodity price risk. Veld-Merkoulova and de Roon (2003) illuminate a 'nave' strategy which relies on short term futures contracts for the purpose of hedging long term position in the spot market when the size of both the positions are the same. Under this hedging strategy, the futures contract is closed on the same date as that of the spot contract if futures contract has a maturity date

Pricing and Quality Assignment Example | Topics and Well Written Essays - 250 words

Pricing and Quality - Assignment Example g them to provide a top quality healthcare service, our healthcare organization can benefit as it fulfills the ultimate objective of a patient which is none other than obtaining a quality healthcare service and we are here to provide that quality service to every patient. There are different justifications for negotiating the rates with the managed care organizations such that a long term relation with those managed care organizations can ensured in future, assurance of charging high price from the customer but expecting an exchange of providing the top quality service from the managed care organization to the patients, ensuring the managed care organization to increase their share in the profits in the future if they kept providing higher quality services to both the healthcare organization as well as to the patients. As the healthcare organization is in its early stage therefore in order to make an impact upon the patients, initially higher quality of healthcare must be provided to them even at a lower cost, but as the healthcare organization will be gaining more popularity, the price charged from the patients can be

Solutions for Renewable Water Sources in Desert Regions of the World Essay

Solutions for Renewable Water Sources in Desert Regions of the World - Essay Example Water scarcity is increasing and there should be sustainable solution to provide water for the urban as well as rural regions. Desert Regions have less sources of renewable water and Green solutions have the capability to provide water for the desert regions of the world. The main objective of the paper is to â€Å"Give solutions to reduce or limit water scarcity in desert regions of the world†. Water resources The planet ‘Earth’ is covered with about 71% of saline water that cannot be utilized by humans for readily use. Although, oceans and seas contribute much in providing life for the marine creatures that are beneficent for humans and balance of the planet, but the water cannot be utilized in the pure state. About 97% water present on water is salty and remaining 3% is fresh. The most part of the fresh water content about 68.7% remains frozen in the shape of glaciers, and mountainous ice caps and 30.1% are conserved by nature in ground (Ground water). The rema ining 0.9% is in the form of lakes and rivers and available of humans, animals’ and plants’ use. Thus, there is a little portion of water that is available for human use, and there is a need to develop strategies and methods to conserve water for the future of the human race and for the future of the planet (Reisner, 438-442). Image Source: Chenje, nd Water scarcity is rising due to the impact of climate change. On the other hand, humans have done fewer efforts in developing technologies and strategies to conserve the water resource with the increase in the population. Renewable water resources are the resources of water that generate water through natural or artificial processes by utilizing the waste water. Rivers, Lakes and streams are the renewable water resources, where water is maintained by the natural process of rain. Renewable resources can also be considered as the fresh water resources (Reisner, 438-442). Water Scarcity Water stress has a deep relation with the size of the population and the resources the region has. The ration depicts a region is facing the water stress if the region’s water sources are unable to provide 1700 cubic meters of water to single person on an annual basis (Howard, n.p). However, if the water sources are unable to provide 1000 cubic meters of water to a person annually, the region is considered to be facing water scarcity (Webb 51-57). On the other hand, if the supply water drops lower than 500 cubic meters, the regions is considered to be facing absolute scarcity that can unable to provide enough drinking water to a person. On the other hand, the quality of water has an inverse relation with the water scarcity. People will compromise on the quality of water in water scar regions. Water scarcity is directly related to the food scarcity as crops are also unable to survive without water. Image source: Accessed from www.revolve-magazine.com A report by United Nations Department of Economics and Social Af fairs (USDESA) writes â€Å"Around 700 million people in 43 countries suffer today from water scarcity† (Un.org, n.p). In another place, the Report predicts â€Å"By 2025, 1.8 billion people will be living in countries or regions with absolute water scarcity, and two-thirds of the world's population could be living under water stressed conditions† (Un.org, n.p). The corresponding report depicts that the most stressed regions of the world are Sub Saharan Africa, the Middle East and in the Desert regions of Arizona and Nevada in the United States. The Report

How effectively two productions of Macbeth introduce Duncan Essay Example for Free

How effectively two productions of Macbeth introduce Duncan Essay Examine how effectively two productions of Macbeth introduce Duncan. In your answer you may wish to consider setting, lighting, costumes and choice of actor? King Duncan is introduced in the text as text as the first speaking character after the witches, and in only a short space of time has shown himself to be a figure of power, able command the respect of his fellow man and is a keen listener. William Shakespeares text starts by showing King Duncans authority in his first sentence: What bloody man is that? The king demands, instead of waiting for an answer, he puts two and two together and says: He can report, as seemth by his plight And the soldier tells the king about the battle. Duncan also keeps his Reponses short and to the point, he appears to be a good listener as he never interrupts anyone while there talking and waits for his turn to talk, a respectful king. Also as king he appears to be noble even though he doesnt have to be, this is shown by: O valiant cousin, worthy gentleman Here he addresses Macbeth with a title furthermore calling him brave and he calls the captain worthy. He is also a caring man this is demonstrated after the bleeding captain finishes tells him about the battle: Go get him surgeons. The king doesnt have to have anything to do with this but he takes action. In 1971Roman Polanski directed a cinema version of the Shakespeare play Macbeth. This film introduced a whole new generation to William Shakespeare, Listed below are differences between this form of media and what was traditionally seen as the home of Shakespeare, the stage. The differences being a less sophisticated audience, in terms of knowledge Shakespeares plays. Ability to film on location, this has the advantage of looking great it if done correctly but if it is done badly it looks cheap and tacky. The amount of actors in the movie industry out weights that of the stage productions, so a range of talent to choose from is greater. Roman Polanski not only takes advantage of all of the above but he makes the characters his as he sees them. An example of the is King Duncan, Polanski chooses a man of about 45 years of age, he does this because he doesnt to see older less active man, he wants to show a king of action, this is shown in the movie, when we see the king on horseback riding across the battlefield, this happens at the expense of the text at the start of act 1 scene 2 where it says the location: King Duncans camp near Forres It says camp not battleground, the king would never go into battle himself this was his right as a king. Another thing Polanski does is to show the king wearing a poncho with his family coat of arms embroiled on it, below this Duncan is clad to battle armour, this gives us a false impression of bravery, and he also rides with his crown on his head this is to gain yet more attention, almost rubbing his advantage over the lesser men. The opening with scene with Duncan has him riding over a sand dune, but before we even see this we people play the trumpet, you have to important to have your own fanfare and guard, as they ride on to beach the camera keeps up with them and we see the sky the is heavily over cast, maybe a sign of things to come. Polanski has also seen fit to shorten the parts to the play, the effect of this is to keep things flowing fast and to hold the audiences attention. When Duncan starts talking to the injured captain, it seem very informal, theyre all it horse and none of them show respect to king by bowing or other courtships. The king then travels to see Cawdor, who is pined down, by seeing this man Duncan is lower himself because it almost like he is getting his hands dirty as appose to just giving orders, then he takes out his board sword and lowers it to Cawdors neck where in skilfully removes a medallion and for the briefest of moments we think he going to kill him. In the Trevor Nunn version of Macbeth, this is a stage production by the Royal Shakespeare Company. There are more limitations placed on the director because it is a stage production all the action takes place in the same place, this also forces the audience to use there imaginations, more that a film. Props can be used but there are limitations to how much you can do. The opening sequence we see a circle of light, a metaphor for everlasting life, everything is in complete darkness except the for this circle, the forces of evil and the force of good are both represented and both will play roles in the play. The actors come on stage from the darkness and one stands the king, he is wearing a white one piece sheet, the white is in contrast with the darkness and could be a metaphor for peace and purity. The camera then pans around each actor in turn, each is wearing black and looks to be about middle age, then it passes Duncan who has a full beard and looks quite like a Santa Claus figure Santa is known for his kindness and good judgement this also true for Duncan. After the witches predicts, we see how frail he is when to friendly face comes to his aid helping him to his feet, his maybe a sign that the end is coming. In summary the both versions of Macbeth enlightening, it was useful to get some elses perspective on Macbeth. But there can be not denying Duncan greatness when an enemy say this: Besides, This Duncan hath borne his faculties so meek, hath been so cleat in his great office Macbeth says this about Duncan, with enemies like this who need friends. I think Trevor Nunn version represented Duncan better because Nunn used simple but very powerful metaphors.

Examining The Application Package Of Accounting Software Information Technology Essay

Examining The Application Package Of Accounting Software Information Technology Essay It is a widely researched topic to motivate small businesses to adopt IT. There is little research focused specially on the motivating factors for adopting computerized accounting systems (CAS) in small organization, though there is much study on the overall adoption of IT. However, small business accounting software is an essential sub-set of overall small business IT research. Accounting software was the biggest application package used and the powerful factor behind the IT hardware acquisition decision. To look into the motivating factors for adopting accounting software, it would be practical to first review the more comprehensive literature on overall IT adoption. Hence, this literature review begins with a discussion of the studies of general IT adoption and then reviews studies particularly focused on accounting software adoption. 2.1 FACTORS FOR ADOPTION OF IT Thong (1999), Harrison, Mykytyn and Riemenschneider (1997), Cragg and King (1993), Moore and Benbasat (1991) and Treadgold (1990), who have made research about small business IT adoption, have now identified a variety of motivating factors. Thong (1999) attempted to strengthen the myriad of IT adoption research by developing an integrated model of information systems adoption. This model is a useful framework in reviewing the variables that impact on a small business owners decision to adopt IT. Thong classified the factors into four elements: Characteristics of the organization; Characteristics of the management; Characteristics of the technological innovation; and 4. Characteristics of the business environment. 2.2 Characteristics of the Organization The characteristics of the organization are variables that manipulate the decision whether to adopt IT or not. Organizational characteristics for instance: employees level of IT knowledge, business location, information-intensity, business size and industry sector has been evaluated in preceding research studies of Fink (1999); Burgess (1998); Wenzler (1996); Attewell (1992); Yap (1990); and Delone (1988). In general, the greater the sales turnover are determined by the larger the number of employees and the more information-intensive the industry, thus the more likely a small business will adopt IT innovation .In addition, Thong (1999) states that small businesses tend to suffer resource poverty in terms of financial competence, offered time and IT skilled staff to facilitate innovation adoption. As a result, Attewell (1992) adds that resource poverty raises the obstacle to innovation adoption in small business. 2.2.1 Information Intensity Yap (1990) quoted in Thong (1999), that businesses have different information-processing needs in different sectors. Those in more information-intensive sectors are more likely to adopt IT than those in less information-intensive sectors. Further, (Porter and Millar, 1985) have reported that greater uses of IT in businesses are due to greater information intensity. Therefore, greater information intensity will lead the holder or supervisor of small business to perceive IT as a most important competitive device and as a result increase the probability and complexity of applying computer software. 2.2.2 Business Size Dewar and Dutton (1983) and Moch and Morse (1977) quoted in Thong (1999), point out that the technological innovation literature has found that larger businesses have more capital and infrastructure to facilitate to adopt computerized accounting system. However, Ein-Dor and Segev (1978), specify that small and medium businesses face considerably more barriers, among others, a lack of internal information system expertise, restricted monetary resources and as such are less likely to adopt information systems than large businesses. Supplementary literature Alpar and Reeves (1990) quoted in Thong (1999) disagree that, even among small businesses, the larger the business, the more able it is able to employ people with specialized skills, for example, knowledge of information systems. Hence, there is a greater opportunity to move from manual system and adopt the computerized one. 2.2.3 Industry SEcTOR Some particular industries are more suited to computerized record keeping than others are discussed by some researchers. These findings are partly supported by the Australian Bureau of Statistics (ABS) 1999-2000 report, Business Use of Information Technology. The maximum use of computers was in businesses in the material goods, business services, electricity, gas and water supply industries. At the same time, the minimum computer use was in the private and other services like housing, cafes, restaurants, transport, storage, retail trade and construction. Therefore, it is more suitable to implement a CAS in industries in which there are more trading dealings and transaction processing so that to facilitate day-to-day running of the business. 2.3 Characteristics of Management Thong (1999) points out that in large businesses, group teams are usually involved in the IT decision-making process. However, this is in distinction to small businesses where the owner-manager is generally the IT decision maker. Therefore, Rizzoni (1991) indicates that in small businesses, the characteristics of the owner-manager are vital in determining the businesss approach to IT. Thong (1999) emphasized that the three major characteristics of owner- manager which are important to IT adoption are: Level of IT education and accounting knowledge. Computer self-efficacy, and Innovativeness. 2.3.1 Level of IT Education and Accounting KNOWLEDGE In view of the fact that managers have miniature knowledge about accounting or seeing as they do not know how to prepare accounts and financial statements, they generally prefer to contract out their accounting work to public accounting firms. In addition, in several countries and in several businesses, managers neither considered the accounting subject by any means nor the accounting subject in the secondary level or tertiary level. Accordingly, Lees (1987), DeLone (1988) and Neidleman (1979) quoted in Thong (1999), specify that the possessors are not alert of the significance and the usefulness of accounting information over and above the advantages of using computers to make effortless accounting works. Thus, it still exists an unwillingness to apply computer software for the reason that business process outsourcing decreases the lack of accounting perceptive of owners. Consequently, there would be a larger possibility to implement a CAS, if managers have been educated about the a ccounting knowledge or if they could be learned about the advantages of computer know-how to produce rapid and precise accounting information. 2.3.2 Computer self-efficacy Self-efficacy is the belief that one has the capability to perform a particular behavior that is extending the social cognitive theory. Compeau and Higgins (1995) described computer self-efficacy as a judgement of ones capability to use a computer. Delone (1988) and Raymond (1988) state that small businesses owners or managers who have commenced computer training and possess computer self-efficacy are more liable to implement IT. The key leader for innovation is the owner-manager and small businesses often cannot afford the luxury of experts to guide them towards the innovation adoption and diffusion process. Thus, it is important for the owner-manager to have computer self-efficacy. It is posited here that, to the degree that the owner-manager feels comfortable and confident with the information technology, here construed as the owner-managers computer self-efficacy, innovative information technology will be adopted. On the other hand, Gableand Raman (1992) discovered that managers in quite a lot of firms are less alarmed or have no idea of the probable remuneration resulting from the use of computers in accounting as they do not possess computer knowledge. Hence, managers would be willing to adopt such computer technology to process accounting data and produce appropriate and consistent financial reports on time, if they could be learnt about the favourable effects resulting by adopting accounting software package. 2.3.3 INNOVATIVENESS Innovation is defined as a change made in the traditional way of doing things. In this framework, innovation means the development of altering the way of preparing financial reports from manual system to accept accounting software package as a device for recording and processing accounting transactions and financial reports. Thong (1999) states that the owner-manager is the one who is in charge for the running of the company in small and medium businesses. As a result, the characteristics of owner-manager are essential in determining the innovation attitude given that they are the main decision maker. Kirton (1976) quoted in Thong (1999), contends that everyone is located on a continuum ranging from an ability to do things better to an ability to do things differently. The owner-manager will seek solutions that have already been tried and understood, if the latter is not a modernizer. In contrast, Kirton, (1984) indicates that the owner or manager who wants to innovate will favour so lutions that have not been attempted and are thus hazardous. However, Thong (1999) suggests that there is not anything that other associates of the business can do to use computers for accounting works if the owner-manager has not the willpower to innovate. 2.4 Characteristics of the Technological Innovation The decision to implement Information Technology is dependent on the characteristics of the technological innovation itself as they are also a vital determinant. Rogers (1983) defined diffusion as the process by which an innovation is communicated through certain channels overtime among the members of a social systems. Rogers uses the terms technology and innovation synonymously, but explains that technology is a design for instrumental action that reduces the uncertainty in the cause-effect relationships involved in a desired outcome. There are five, potentially relevant, characteristics of innovation noted by Rogers (1983) which are potentially valuable in explaining the results of our research. Complexity: how difficult technological innovation is perceived as easy or difficult to understand and use; Compatibility: how technological innovation must be consistent with the existing values, past experiences and needs of potential adopters, for instance producing quick reports as efficiently and effectively; Relative advantage: how much technological innovation must be perceived as better or worse to be compared to its predecessor system; Trialability: is the degree to which an innovation may be experimented with by potential users on a limited basis; Observability: how much time it takes for the results of technological innovation to become visible and maximize profit. It has been noticed, over the past decade that the initiation of powerful, economical microcomputers jointly with available accounting software, have enhanced and raised the barriers to IT modernization. Thong (1999) confirms that, this has shown the way to a boost in the adoption of IT in the accounting field of small businesses. 2.5 Characteristics of the Business Environment Business environment encompasses all those factors that affect a companys operations, and includes customers, competitors, stakeholders, suppliers, industry trends (accounting firm and accountants), regulations, other government activities, social and economic factors and technological development. 2.5.1 ACCOUNTING firm Oran (1988) and Shannon (1986) indicate that many small business owner-managers are not alert of the extra services supplied by accountants. Additionally, until a problem does not arise, owner-manager will not discuss with accountants (Holmes 1987). Moreover, ASCPA (1992) and Breen et al. (1994) maintained in their research that an external accountant used up much of his time on an act in accordance with accounting practice and accounting standards, thus he can help a business to acquire and put into practice the accounting software in the business accounting cycle. Gorton (1999) found that businesses that were recently start-up were more liable to move toward an external accountant for suggestion than more grown-up organizations. Also, Wenzler (1996) states that accountants are exceptionally placed to provide accounting software advice and support to their clients. Such proposal shows to be efficient and effective for businesses to opt for accounting software. There are close relationships between small and medium business owners and accountant, seeing as quite a few small and medium businesses contract out their operation transaction recording and reporting to external accounting firms. In addition, Davis (1997) noted that small and medium businesses depend a lot on accounting firms as their most faithful business advisors. Accounting firms have more acquaintance about their clients and their clients business. They know what their objectives are, and can put forward approaches to help in attaining those objectives. For this reason, as recommended by Yap et al. (1992), accounting firms can considerably influence CAS adoption among small and medium businesses and besides their participation may also contribute to the achievement of computerized accounting implementation. Nevertheless, to reduce errors and put a stop to fraud, it is essential for accountants to be aware of the impact of making use of of computers on the accounting procedures and controls that are premeditated. Moreover, computers cannot replace the opinion and insight of educated accountants but the computerized accounting software can facilitate the tasks by automating much of the everyday bookkeeping processes in the manual accounting systems (e.g. posting, trial balance preparation). Furthermore, computer software allows the accountant to spotlight more on how to proceed with the accounting entries and techniques on financial reports. Last but not least, more of the accountants hard work can be paying attention on supporting management in considering the impact of financing, investing and operating decisions on financial statements and other measures of performance by utilizing accounting software. 2.5.2 Competition Ives Learmonth (1984) and Link Bozeman (1991) quoted in Thong (1999) confirmed that it is usually assumed that competition will enhance the possibility of innovation adoption. Ettlie (1983) and Ettlie Bridges (1982) quoted in Thong (1999) also point that competition leads to environmental insecurity and increases both the need for and the rate of innovation adoption. Porter and Millar (1985) advise that, businesses will be able to compete in three ways by adopting IT: IT can create competitive advantage by reducing costs or increasing differentiation. IT can change the industry structure and, in doing so, change the rules of competition. IT generates new businesses by creating derived demands from new products, often within existing operations of the business. 2.5.3 External Agents Small businesss customers were a considerable reason for implementing IT, more than the pressure of competitors suggested by Wenzler (1996). Luckily, Public Practice Accountants are in a superior position to provide systems analysis, design, implementation, and support advice to their clients as many small businesses are in lack of resources to adopt CAS. Furthermore, the introduction of the Goods and Services Tax (GST) was an external influence on small business owner-managers decisions to adopt a CAS. Many small businesses would have taken advantage of Government incentives to help with the transition costs of the GST. Many small businesses computerized their accounting systems following the introduction of the GST because accounting for the GST using manual records proved to be too complicated (Lief 2000). Since the introduction of the GST, it has been shown that many small businesses agree that the costs involved were usually: offset by better record-keeping and resultant better business management. The general consensus was that the move to computerized records was very positive for the small business sector overall. 2.6 BARRIERS FOR ADOPTION OF IT Computerized accounting implies that the only thing that employees do is inputting and recording transactions into the computer, which then processes the other steps of the accounting cycle automatically or by a request. Davis and Olson (1985) defined Information System adoption as using computer hardware and software applications to support operations, management, and decision making in the business. In this study, computerized accounting is defined as using computer software applications to support accounting operations. However, many small businesses are cautious about the effect computer may have in their firm. When a CAS is installed, if there is a bad option of hardware or software, or insufficient planning, this may lead to obscurity and may have severe long-term consequences. Some reasons constantly mentioned in literature to explain why small firms that had not yet adopted IT, identified the three main barriers to IT acquisition. 2.6.1 Lack of computer skills and knowledge Stanworth and Gray (1992) and Marlow (1998) reported that drains on time and money characterize important limitations. Computer technology infuses businesses both large and small; the need for employees with adequate IT knowledge is serious. There are two achievable solutions to this dilemma. Firstly, it is the employment of devoted IT staff. However, this is can be outer the budget of the small association and is expensive. Secondly, IT training is another choice. Conversely, this also appears to be costly. The courses for small firms, professional practices where clients are to be paid on a time basis, time used up when undertaking training is considered by many owner-managers to be a loss of income as all these have proved to be expensive. Accordingly, many small and medium enterprises struggle forward with what knowledge exists inside the organization. The small body of study emphasizing upon the outcome of training in small firms is contradictory. Delone (1988), investigation of vital process factors, stated that the level of computer training was not connected with IT success (measured as the impact of IT on the organization and computer use). On the other hand, Montazemi (1988) stated that there is a favourable relationship between levels of training and measures of the impact of IT. Where workers were disappointed with the levels of training available, he noticed their computer literacy, end-user fulfillment and approval of IT was poorer than their better-trained counterparts. In addition, Igbaria et al. (1997) accounted that training also is useful for small organizations. Their research demonstrates training to be definitely related with the apparent effectiveness of IT and to use it without difficulty. On the basis of their conclusions, Igbaria et al. declare that individuals with no sufficient training are liable to face troubles while using the system. Since they are struggling, they may in fact consider that the system is too rigid to utilize and that the performance remunerations of practice are offset by the hard work of employing it and finally become hesitant to adopt the technology, thus defeating the purpose of establishing the new technology. 2.6.2 Lack of Time Niederman et al.(1991) and Galliers et al.(1994) state that analysis carry out in large businesses have constantly revealed information systems (IS) planning to be one of the top priorities of information systems and business managers for time management. However, Fidler et al.(1993) and Dou- kidis et al, (1994) report that existing study puts forward that small organizations are fading to pursue the model set by their larger counterparts and remain, in terms of modern management practice, in the dark ages. Whilst it is recognized by Malone (1985) and Cragg (1990) that the official planning techniques of large businesses are not essentially suitable for small businesses as investigation recommends that small firms that have adopted more formal planning systems come across lesser IS problems. Regardless of such results, Cragg and King (1993) report finding `few formal planning and control activities associated with the computer, or for that matter, with the business as a whole. Where planning does take place it has a tendency to be assumed on an unexpected, problem basis; only an action of the owner-manager; informal, periodic and closed; and prejudiced seriously by advice from external sources with less skills and experience than the owner-manager. While Doukidis et al. (1996) suggests, although IT is generally linked with a systematic approach to management and decision-making and its introduction requires careful planning, much small business management performance is based on short-term, informal, ad hoc lines. Furthermore, McMahon (2001) study mentioned that it really develops management in small firms and frees up time by using a computerized record keeping system. However, John Breen and Nick Sciulli (2002) initiated that business operators are probable to have complexity finding time to put into operation a CAS as they lack the time to examine and or implement a computer software package. For that reason, it may have a positive effect on the business taken as a whole and may facilitate to find the time to adopt CAS, if owner-managers could have the required management and financial skills. Besides, Proudlock et al (1999) research observed that some businesses owners did not have enough time to locate and acquire particular accounting software that satisfy their business necessities, and they did not have time to set up the accounting software and to record the routine business dealings. This is why they did not adopt Information Technology in the financial accounting system. 2.6.3 financial resources Iacovou et al. (1995) finds that small and medium enterprises need a constant supply of sufficient financial resources for a flourishing adoption of CAS. The financial resources are looked-for to face the installation costs, maintenance, and other current expenses that might crop up during the whole course of the system operation. However, Iacovou et al. (2005), Quayle (2002) and Riquelme (2002) added that not all small and medium enterprises have enough financial resources needed to support the adoption of CAS and as such financial limitation becomes the barrier to CAS. Head (2000) confirmed that: ..small business cries poor when it comes to buying computers. This shows that it is very costly and difficult when shifting from manual system to computerized system. Also, due to costly investment, many small business managers were unwilling to use computer software in the accounting system as mentioned by Head (2000) research study. However, Doukidis et al. (1994) and Proudlock et al. (1998) state that consultant assistance comes at an elevated price, often too high for the small business. Consequently, many small organization owners prefer to obtain advice from neighbouring firms and support firms as well as less formal sources of advice such as immediate family, friends and acquaintances, who basically have little or no understanding of the business. In the same way, Delone (1988) and Gable (1991) affirmed that IT consultants may not always be the reply. Although they are familiar with the application of IT in business, they hardly ever are aware of the specific needs of individual businesses in the same depth as the owner-manager. 2.7 Conclusion This overview of past research studies has clearly demonstrated the criteria which influenced the factors for the adoption of information technology in the accounting profession for some small and medium businesses. Nevertheless, these past studies have lifted a debatable issue in the literature. Consequently, no contrasts are made between businesses that use a computerized accounting system. This assessment would be practical in the reasons for using or not using computerized records, over and above what factors would persuade more businesses to adopt IT irrespective of their dimensions. Moreover, according to the literature, all of the above characteristics influence the owner or managers decision to implement IT in the accounting field to a varying extent depending on the economy and industry in which the business operates. .

Optimal Economic Uncertainty Index

Optimal Economic Uncertainty Index Introduction Economic uncertainty states about the uncertain of future economic events. This means we cannot foresee what will happen to the country’s economic in the future and this is why this research is been investigate. There are many situations which caused the uncertainty to happen such as the changes in economic and financial policies, various views about the growth prospects, the productivity movements, wars and natural disasters (Bloom et al., 2013). The first innovative work which discussed about the effects of uncertainty is done by Knight (1921). Knight formalized a distinction between risk and uncertainty. Based on Knight’s research, risk was applies to the situations where is unpredicted but still can accurately calculate the odds. However, uncertainty applies to the situations where is unpredicted all the information we need with the purpose of set accurate odds. According to a theory of profit and entrepreneurship, Knight suggests that the function of the entreprene ur is to earn profit by undertaken the investments with uncertain outcome (Bewley, 2002). Thereafter, more and more researcher has constructed diverse models to investigate the uncertainty. Mises (1949) states that researchers never gave up in searching the best ways to reduce the problems which caused by the uncertainty. However, the results gain by most researchers which tested the uncertainty could not supply suitable and meaningful outcomes. This is because the researchers’ understanding and the modeling created has supply limited information from the empirical data and too much effort has been applied in explaining and estimating the characteristic of human beings under variety situations (Ellsberg 1961; Epstein 1999). However, an open question remains as to whether or not research in this area could better our knowledge of economic turbulences and other utmost uncertainties and improve the scientific accuracy of economic theory. There are fewer of empirical studies on the economic uncertainty index depend on normative analysis. This type of analysis creates value judgments about the economy or the goals of public policy to be archive. (Caplin and Schotte 2008). Thus, normative analysis cannot be used to refute the precision of the economic uncertainty index (Gan 2014). Monetary conditions indexes (MCI) have become famous in several countries over the past few years as a useful tool and indicator for the stance of monetary policy. Although MCI played as an alternative monetary policy rule sparked intense debate and yet whether a consensus can be reached remained unknown at the beginning however it has been losing its magnet effect on the economy from the past years. The main factor of this change would be exchange rate, which is merely determined by the market. Gan (2014) conducted a paper namely the optimal economic uncertainty index constructed is one of many in the economic uncertainty literatures, which the optimal form may reflect the true economic conditions. This study will apply two monetary policy rules which are MCI and OEUI in selected Asian countries to examine which rules would facilitate achieving the best economic outcomes and lead to rational and wise policy decisions through a comparison. Matters of the study The argument of monetary policy rules in an economic uncertainty A good monetary policy rule is very important to the economy. It can help the economy respond efficiently to economic upheavals by limiting the gap of actual economy activity from its equilibrium, without significantly changing the ultimate goals of monetary policy. As stressed by Svensson (2000), monetary policy rule can either describe a systematic response of policy instrument to events in the economy (e.g., changes in macro variables and changes in policy variables), or it can suggest a specific economic outcome, or it can target the central bank’s goals (e.g. output and/or inflation). This behaviour of the policy rule can be inferred only in the context of a full model that links the policy instrument to the targeting variables included in the rule. Levin, Wieland, and Williams (2001) investigated the performance of forecast-based monetary policy rules by using five macroeconomic models that present a wide range of views on aggregate dynamics. They categorize the characteristics of rules that are robust to model uncertainty. However, the performance of monetary policy rule in an economic uncertainty is still under debate. Dotsey and Plosser (2012) examine the design of monetary policy rules in an environment. The argument is lingering around the issue that people have only an imperfect knowledge of the economy to confront challenges arising from various forms of economic uncertainty. The inadequate of non-optimal monetary policy rules in an economic uncertainty Simple monetary policy rules – non-optimal – such as Taylor (1993) may involve a reaction to variables other than conventional variables such as inflation gap and output gap, which are considered intuitively relevant to the conduct of monetary policy. Generally, these rules are similar to those discussed in Clarida et al. (1998). The great virtue of the simple rules is simplicity, which makes them easy to understand. Simple rules still can be used in central bank communication, although the public would not be able to verify the exact rule that is being followed. The rule can perform well in a wide range of models, which makes it robust to model uncertainty (Taylor, 2000). As stressed by Orphanides (2007: 11), some useful elements of policy design surface from historical analysis of TR: (i) good stabilization performance have a strong relation to the inflation’s reaction; (ii) good performance is associated with policy rules that show considerable inertia; (iii) a strong reaction to incorrectly measured output gaps has historically proven counterproductive; (iv) successful policy could still usefully incorporate information from real economic activity by focusing on the growth rate of the economy. Additionally, financial market analysts, scholars and central banks’ staff have been using monetary policy rules increasingly to forecast interest rates and to evaluate and describe central bank actions. Despite the fact that simple policy rules can often provide a good approximation to fully optimal policy under perfect information and are typically more robust to uncertainty (Cateau, 2007), simple rules have a number of weaknesses. Although their performance is rarely disastrous, they can involve large welfare losses relatively to fully optimal rules (Nikolov, 2002). In the similar vein, Svensson (2003) argued that a commitment to a simple instrument rule might be far from optimal in some circumstances. Crucially, simple rules are rarely optimal. Some studies, for example, Batini, Harrison and Millard (2003) argued that Taylor-type rules are not robust to open economy features. Taylor (2007) recognized that the TR is not supposed to be followed mechanically, but he also argued that monetary policy might deliver better results in terms of low inflation and output variability by staying closer to the rule. The failure of monetary conditions index Generally an MCI is a measurement of demand pressure; demand pressure is often measured by the output gap (output gap is the difference between current output and the estimated output in equilibrium level). The MCI is simple economic uncertainty measure because it involves gap variables in estimation; any estimation of gap variables is subject to considerably uncertainty (Gan, 2014). The equation of MCI[1] is a combination of interest rate gap[2] and exchange rate gap[3]. Thereby, increases in interest rates as well as increases in exchange rates[4] indicate a higher MCI figure and, therefore, tighter monetary conditions rested here. The estimation of the weights of the two variables in the MCI is at the heart of calculating of the MCI. The ratio of these weights would encode whether an appreciation in interest rates can be compensated along with depreciation in the exchange rate. The weights also reflect the relative impacts and changes of the interest rates as well as in the exchan ge rate affected on monetary conditions. Therefore, the MCI is generally viewed as a summative and informative tool for the public; meanwhile it serves as an early indicator for the central banks. However, the benign MCI played as an alternative monetary policy rule still sparked intense debate and yet whether a consensus can be reached remained unknown. Noticeably, the MCI has been losing its magnet effect on the economy from the past years. The most contributive factor of this change would be exchange rate, which is merely determined by the market. Further, the MCI mixes up two variables that are situated on two fundamentally different stages of the transmission process. The evidences can be briefly summarized by the application of the two MCI formerly leading advocates, the Bank of Canada (BOC) and the Reserve Bank of New Zealand (RBNZ). Since the early 1990s, BOC officially used MCI as an operating target (operating target is variable that the central bank influences directly by its monetary policy instruments[5]); however, the BOC did not directly control both the interest rate and the exchange rate simultaneously, but merely focused on the control of the interest rate. This means that central bank adjusted its interest rates to modify monetary conditions directly, which in turn is assumed to affect the exchange rate in various systematic approaches (usually via uncovered interest parity – UIP).[6] Due to its inability to target the exchange rate under MCI’s mechanical way, The RBNZ in 1999 gave up the concept of MCI may. The recurrent depreciation during the crisis and the evocable changes in the MCI were interpreted as signals of upcoming tightening that can cause long-term interest rates to rise and consequently exacerbate recessionary forces (Ito and Hayashi, 2004). To sum up, the concept of the MCI had lost a great part of its initial attractiveness in the end of the 1990s. The RNBZ abandoned published an MCI in March 1999 and concentrated its policy statements on a short-term interest rate. While the BOC continues to publish the MCI, its role in taking monetary policy decisions was reduced to that of many other indicators in recent years. The perform of optimal economic uncertainty In economics, optimal analysis is a normative analysis. It studies what the economic ought to be. However, the study about the optimal economic uncertainty is very limited. Most of the empirical studies are approximate form but not optimal. The optimal analysis is very common in most of the economic study such as the studies of monetary policy rule and others. In the late 1970s, the Federal Reserve stabilized the country’s economy by using the optimal Taylor Rule in the monetary policy. However, the Taylor Rule has misplaced the policy makers to face the real time data (Orphanides, 2003). This is because the optimal Taylor Rule only can perform better in the interest rate function. Giannoni (2000) investigated optimal policy rule in a simple forward-looking model, when the policymaker faces uncertainty about model parameters and shock processes. Other than that, Dieppe et al. (2004) examined the optimal monetary policy rule in the model of the euro area which is known as the ECB’s Area Wide Model, including a high degree of intrinsic perseverance and a restricted role for forward-looking anticipation. The optimal economic uncertainty index constructed by Gan (2014) is one of many in the economic uncertainty literatures, which the optimal form may reflect the true economic conditions. Since the economic uncertainty index is not observable. The rule of optimal economic uncertainty index suggests optimal economic uncertainty index can be computed by using grid search method based on small open economic model; a small open economic model is very close to a true economic model and it is not partial economic model. Motivation of the Study What is the response of optimal economic uncertainty to macro variables and policy variables? Until today, there are no policymakers (hereafter, central banks) have publish the optimal economic uncertainty index, for the reason they might be unwilling to publish such an index, or such an explicit formula simply does not exist. As stressed by Bernanke (2010a), economic engineering to address economic uncertainties needs to be improved. Optimality in this study can be given by particular specifications of the central bank’s loss function. Therefore, an optimal rule is the one that derived by minimizing a loss function. Two models are practically employed here. The first model is an optimal economic uncertainty index, which is proposed by Gan (2014). The second one is MCI concept which is based on the theoretical works by De Wet (2002). Thereby the optimal monetary responses can be derived. What is the welfare gain from taking into account the external variable? In order to answer this question, the study attempts to compare the derived optimal economic uncertainty index to a set that assumes with the exchange rate variable and a set that assumes without exchange rate variable. In line with this measure, one feasible approach is to measure the difference in the loss function values. For this purpose, the study would derive the optimal economic uncertainty index for a small open economic model in two setting, in other words, a model with the exchange rate variable and a model without the exchange rate variable. Objectives The objective is to examine the optimal economic uncertainty index (see Figure 1.1) while including the role of external variables – normative analysis. Specifically, this model is augmented and examined with exchange rates. The first model is the MCI of Bank of Canada is a variant of economic conditions rule, which can serve as a competitive rule; this rule consists exchange rates, interest rates and past output. The second model is the optimal economic uncertainty index based on a small open economy model, which was proposed by Gan (2014). Since the basic idea is to keep the rules at constant, i.e., MCI (De Wet, 2002) and optimal economic uncertainty index (Gan, 2014), these optimal rules would bring the economy back to its long-run equilibrium; the process can be indicated by MCI (i.e. an indicator that encompassed the total effects of interest rates and exchange rates), and by optimal economic uncertainty index (i.e. an indicator that encompassed the total effects of inter est rates, exchange rates, inflation and output at optimal level). This study also examines the dynamic profiles of monetary policy rules through a comparison. Eventually, this would enable us to draw an inference regarding which rules would facilitate achieving of the best economic outcomes and lead to rational and wise policy decisions and aid in assessing the behavior of the economic uncertainty in the future. Figure 1.1 Analytical Frameworks (theoretic framework of optimal economic uncertainty index) Figure 1 (a) 3D macro model and the optimal economic uncertainty index at zero uncertainty level of macroeconomic conditions. (b) 2D field of view of the optimal economic uncertainty index with zero uncertainty level of macroeconomic conditions. (c) 2D field of view of the negative-optimal economic uncertainty index with economic contraction. (d) 2D field of view of the positive-optimal economic uncertainty index with economic expansion. Significance of the Study The attainment of these objectives will certainly benefit the central banks. With the growing international mutual consent, both in academia and among central banks, maintaining the medium to long-term price stability is the overriding goal of monetary policy (Asian Development Bank, 2008). Research provides strong support in maintaining low and stable inflation, ultimately; this is beneficial for overall economic outcome (Mishikin, 2008). In line with this consensus, the proposed economic uncertainty index based on a small open economic model – suggested in this study may be considered by the central banks as an alternative framework with the end view of coming up with an improved and more effective economic policy strategy. This study provides exploration of two types of monetary policy rules in an economic uncertainty, the MCI of Bank of Canada and optimal economic uncertainty index based on a small open economic model of Gan (2014), where a set of parameters inducing different decision rules are determined. This study encompasses two macro variables (i.e., output and inflation) and two policy variables (i.e., interest rates and exchange rates) in the optimal model. Not only does this facilitate a better understanding of current policy actions, but it permits markets to better forecast the central bank’s future actions. The optimal policy in one setting may not be optimal policy in some other setting because there is no agreement on the best model of the economy (Plosser, 2008). The rules derived in this study can be contrasted. The optimal economic uncertainty index may outperform other rules (e.g., the Taylor rule and MCI rule) as it can be useful for the central banks. The proposed rule can serve asa policy of inflation targeting that in line with a welfare maximizing policy aiming at minimizing the output gap and inflation gap. This rule is superior that maintaining public confidence while giving monetary authorities to achieve the best economic outcomes in an optimal way. Conclusion This thesis is divided into five chapters. The current chapter sets the background and motivation for the thesis. Chapter 2 explores the theoretical and empirical literature on monetary policy rules with the aim of highlighting two research gaps that motivate the present study. Chapter 3 examines the MCI rule â€Å"true† policy reaction function through optimal TR, while Chapter 4 furthered the MCI rule by employing optimal economic uncertainty index based on a small open economic model. Lastly, Chapter 5 summarizes the major findings of the thesis and their implications, together with some recommendations for future study. [1] [2]Interest rates in the current period minus interest rates in the base period, i.e., changes in interest rates. [3]The level of the effective exchange rate minus the effective exchange rate in the base period divided by the level of the base period. i.e., changes in exchange rates. [4] A positive value for indicates appreciation of the domestic currency. [5] Cf. Burton and Lombra (2006: 671) and Thomas (2006: 608) for textbook definition. [6] Interest-rate-parity theorem states that the interest rate differential between two countries will be equal to the difference between the forward-exchange rate and the spot-exchange rate (equation), in other words, interest differential between two countries should be equally expected in term of the exchange rate change.

Cisco Systems Business Analysis Essay examples -- Technology Companies

Cisco Systems Cisco Systems - World's Leading Network Hardware Products Cisco Systems, Inc. is the worldwide leader in networking for the Internet. Cisco operates in one industry segment and creates hardware and software solutions that link computer networks so that people have easy access to information without regard to differences in time, place or type of computer system. Networking is a multi-billion dollar global market whose growth is spurred by the belief that the Internet is changing the way we work, live, play, and learn. Over the last year, there has been a key shift in the role of the Internet and in how the Internet is perceived. What was once a fairly complex tool used by an elite group of highly technical individuals is now a technology driving economic change globally by creating new jobs and market opportunities. The Company markets its products through its direct sales force, single and two-tier distributors, value-added resellers, service providers and system integrators. This multiple-channel approach allows customers to select the channel that addresses their specific needs and provides the Company with broad coverage of worldwide markets. Customers benefit from Cisco networking solutions through more efficient exchange of information, which in turn leads to cost savings, process efficiencies, and closer relationships with customers, prospects, business partners, suppliers, and employees. Cisco solutions are the networking foundation for companies, universities, utilities, and government agencies worldwide. The Company was founded in late 1984 by a small group of computer scientists from Stanford University seeking an easier way to connect different types of computer systems. Cisco Systems... ...Internet. Their relationship with Hewlett-Packard covers a broad range of initiatives including technology development, product integration, professional services, and customer service. Last May, GTE announced that it would build a national network based on Cisco's products, enabling service providers to rapidly deploy value-added services and drive next-generation Internet offerings. And the goal of their collaboration with Alcatel is to offer complete networking solutions to telecommunications carriers and other Internet service providers worldwide. Each of Cisco's strategic alliances will create a sustainable competitive advantage for both companies in order to optimize products, price points, distribution, and services. Through these relationships, Cisco will provide its customers the ability to become global networked businesses well into the next century.

Flaws in the Efficient Market Theory :: Economy

Flaws in the Efficient Market Theory According to the Efficient Market Theory, it should be extremely difficult for an investor to develop a "system" that consistently selects stocks that exhibit higher than normal returns over a period of time. It should also not be possible for a company to "cook the books" to misrepresent the value of stocks and bonds. An analysis of current literature, however, indicates that companies can and do "beat the system" and manipulate information to make stocks appear to perform above average. An understanding of the underlying inefficient "human" factors in the market equation is necessary in order to account for the flaw in Efficient Market Theory. Efficient Market Theory: A Contradiction of Terms Efficient Market Theory (EMT) is based on the premise that, given the efficiency of information technology and market dynamics, the value of the normal investment stock at any given time accurately reflects the real value of that stock. The price for a stock reflects its actual underlying value, financial managers cannot time stock and bond sales to take advantage of "insider" information, sales of stocks and bonds will not depress prices, and companies cannot "cook the books" to artificially manipulate stock and bond prices. However, information technology and market dynamics are based upon the workings of ordinary people and diverse organizations, neither of which are arguably efficient nor consistent. Therefore, we have the basic contradiction of EMT: How can a theory based on objective mechanical efficiency hold up when applied to subjective human inefficiency? As a case in point, America Online (AOL) offers a classic example of how investors can be misled by a company that uses the market system against itself. AOL, up until early November of this year, used an accounting system that effectively "cooked their books" and provided misleading figures on the company's performance. Instead of accounting for its promotion expenses and costs as a regular expense, as normal companies do, AOL spread them over two years. This let AOL report annual profits based on revenue figures derived from denying actual expenses (as cited in Newsweek, November 11 edition). By deferring those costs, AOL over the years reported profits $385 million greater than they would otherwise have been. The company then used these non-existent profits to promote itself as a money-making opportunity for both stockholders and potential investors, artificially increasing its stock prices. This accounting practice is perfectly legal, but the information was kept private for over two years. The company has recently announced that, effective immediately, promotion expenses will be charged to earnings as the expenses are incurred, the way a normal company does. AOL will also take a one-time special charge of $385 million for the

The Poets Soul as Described in Emersons The Poet :: Emerson Poet Essays

The Poet's Soul as Described in Emerson's The Poet Ralph Waldo Emerson's essay, entitled " The Poet", takes the reader into a new awareness concerning an artistic writer. This essay created new insight about a writer's handicraft. Emerson shows us how a poet uses his gift to connect a non-artist of words to feelings that he is unable to express. A poet uses his God-given ingredient, the soul, to describe the things that engulf our lives. We, that do not have this talent, are given this connection by the writings in "The Poet". Emerson resigned his position as a minister to concentrate his life work as a writer. His education and upbringing was rich in matters relating to theology. He describes the poet in terms of religion. He points out the theological term called Trinity (Father, Son and Holy Spirit) and then equates a poet to this using triple increments. Emerson calls the poet the Knower, the Doer and the Sayer. A poet's soul knows what is going on around us. He expresses himself by picking up a pen and saying what's going on. Most people know what senses they are experiencing in their world We are unable to write and/or say in words these experiences. The poet has this unexplainable talent or gift to share with the world. Emerson describes the poet as having scientific knowledge. He takes language and creates the words to enlighten us about our surroundings. He uses his God-given imagination to create thoughts in the reader's mind that were not present there before. These thoughts activate ideas in a non-poetic person. The reader then produces questions and inventions in areas that he shows expertise. Emerson shows the reader how a person without this knowledge of writing is omitted from expressing the beauty of nature. He tells us that the poet has the incredible ability to create images by his words to illustrate the things that we observe. Emerson believes that the poet uses his words to represent beauty (1648). The world is beautiful and it is the poet's job to paint his view of this in his words. "... but it is from the beginning beautiful; and God has not made some beautiful things, but beauty is the creator of the universe..." (1648).

Equality & Diversity Level 2 – As3

NCFE Level 2 Certificate in Equality and Diversity Unit 3: Working or Learning in a Place that Promotes Diversity 1. In relation to your chosen workplace / place of learning, provide examples of policies / codes of conduct that encourage and / or protect equality and diversity. My chosen workplace to study place a lot of emphasis on complying with Equality and Diversity, they not only have a comprehensive policy setting out their aims and what they wish to achieve with the implementation of the Policy but they have extensive Codes of Conduct for staff and partners to follow.Their policy sets out what they wish to achieve, examples being:- The firm are committed to developing a culture which values and respects people from all section of the community and the contribution each individual can make to the work of the firm. The firm aims to ensure equality and diversity objectives are incorporated and become an integral part of governance, management and the duties of every employee. The Policy also goes on to provide definitions for staff of different types of discrimination, explaining in very detailed terms exactly what the firm feels falls into each category, these include:- Bullying & Harassment ? Dignity ? Prejudice Further, the Policy also provides how a complaint is dealt with, by whom and the timescales involved. In terms of the Codes of Conduct every employee is provided with a copy that they must read and retain. The company have implemented a system whereby the final page is signed by the employee and returned to the Equality & Diversity representative so that the company has a record that everyone has seen and read the document. The Code of Conduct sets out:- Also read: Equality & DiversityUnder Awareness – Staff will be tolerant of individuals needs and cultural differences, help; to provide a pleasant working environment,. Have empathy, support and understandings for individual needs and cultural differences, be receptive and adaptable to change, be professional when deal with clients, colleagues and third parties, respect confidentiality, respect the feelings of others and do not stereotype, make assumptions or pre-judge based on someone’s appearance or culture.Further staff will not discriminate directly or indirectly against someone’s age, gender, sexuality, religion, race, special needs or culture. Under Accessibility – staff will respect, understand and meet the needs of different cultural beliefs, be adjustable and adaptable, be aware of your language (both verbal and body) when you are dealing with clients and colleagues, be aware of different meanings according to culture and to offer help with commun ication and translation (braille, audio or interpreter).The Codes of Conduct have further headings with similar statements including policy and Support to assist staff in fully understanding the entire policy and it definitions. 2. In relation to your chosen workplace / place of learning, describe what is expected of members of staff who have specific responsibility for equality and diversity. Include information about their job titles and describe their responsibilities. In my chosen workplace there are two members of staff are responsible for ensuring our Equality & Diversity Policy / Code of Conduct are complied with.This role is covered by a Senior Partner and the Office Manager (terms Equality and Diversity Representatives by the firm) who ensure that the Policy / Code of Conduct is up to date and that they are up to date on the Law / Regulations including Law updates, case Law and advances in enforcing Policies. Should there be a breach of the Policy either the Partner or Offi ce Manager are responsible for ensuring this is investigated fully and fairly on behalf of either staff members or clients whom feel a potential breach may have occurred.They are also responsible for providing all staff with on-going training either via conferences in the office, outsourced conferences or memo based updates. 3. Describe what is broadly expected of all staff in relation to equality and diversity. All staff are expected to treat everyone appropriately regardless of their age, disability, gender reassignment, race, religion, sexual orientation or marital status. They also expect that all staff engage in developing a culture which values and respects people from all sections of the community and the contribution that each individual can make to the workings of a firm.All staff are further expected to have a good awareness of the Code of Conduct and abide by the same throughout their role, specifically expecting all staff to be tolerant, provide a pleasant working enviro nment, be receptive and professional, respect others feeling and confidentiality and not to stereotype or pre-judge. All staff are expected to make themselves aware of the Policy and adhere to it at all times to ensure that each and every aspect of the firm complies with Equality and Diversity to the highest possible standard.All staff are also expected to ensure that breaches or potential breaches are brought to the Partnerships attention quickly so that investigations can be put into place. 4. Based on the work you have done in Question 1 – 3, write a short summary of what you have discovered in terms of the organisation’s work on equality and diversity. Within my workplace the Equality and Diversity Policy / Code of Conduct is thought of as pivotal to the firm. Great pride is taken in the fact the firm have such a comprehensive regulation system and great care is taken by the Partners to ensure that at every opportunity Equality and Diversity is considered.The compa ny have a Equality and Diversity Board , including partners, staff representatives and external service providers, who meet once a month and discuss any issues that may have been raised, whether these be complaints, alleged breaches or simply comments from individuals with regards the Policy (wording etc) or any other issues. The minutes from the meetings are published and a copy placed in a centralised folder with additional copies being sent to all staff via email so that everyone can be kept up to date.Furthermore periodically quizzes are sent round to staff (including partners) with ten questions asking for multiple choice answers to be completed. The Equality and Diversity Representatives make this fun by awarding prizes to the winners but if somebody fails to grasp the quiz additional fact sheets and work is undertaken with that person to ensure the Representatives are confident they appreciate what Equality and Diversity is and why it is held in such high regard at the office . 5. Describe how equality and diversity is monitored within your chosen place of work / learning.The staff with conduct of the Equality & Diversity Policy in the office (Partner and office manager) monitor equality and diversity. They are responsible for monitoring Recruitment and selection processes, promotion and transfer, training, terms and conditions of employment, work live balance policy, grievance and disciplinary procedures, resignations, redundancies and dismissals. Furthermore reviews of the policies are conducted regularly with the help of external experts who ensure that the policies incorporate the most up to date Law and Case law to ensure proper compliance. 6.Prepare a short report on how your chosen place of work / study promotes (communicates) policies and practices for equality and diversity to employees and external stakeholders (such as customers and the community). Provide specific examples. The company has many ways in which it tells external people of the eq uality and diversity policy. It is included in the firm’s website under a separate tab which explains in general terms our policy, advising those who read that we run in accordance with the policy and confirming that a full copy of the policy is available should they wish to read it, free of charge on request.Furthermore our Twitter and Facebook accounts give general information but if the policy changes or is affected by any legal changes these are specifically documented via updates. Internally quizzes are held to help staff keep updated and also regularly memos or training seminars (by internal and external agencies) are also conducted. 7. Describe the organisation’s punishments or sanctions for any breach in the policies / codes of practice / guidelines where equality and diversity are concerned.Individuals are expected to report all incidents of harassment, bulling or discrimination to their head of department, staff partner or manger. In return the company promis e to ensure all complaints are dealt with confidentially and with sensitivity ensuring that investigations are swift and discreet. Anybody who is found to have been acting in contravention to the Code of Conduct or policies or any member of staff that allows a breach to go ahead by turning a blind eye or encouraging the same will face formal disciplinary action.The firm has several outcomes for an investigation via disciplinary action. If a complaint is upheld the offender will be sat down and confidentially spoken to about their conduct and told the behaviour will stop. This will be recorded but taken no further so long as there is no repeat. The second step could be mediation where the offender and victim with a natural member of staff are given the opportunity to sit and discuss the matter. If they do not want to do this face to face a letter exchange will be agreed and monitored.Again the process will be recorded and documented. If the above steps cannot be completed or the brea ch is too serious formal disciplinary procedures will commence in line with the companies normal disciplinary procedures. This takes the form of a disciplinary meeting whereby the offender can put forward mitigation or defence and then the disciplinary partner will decide the next course of action – this can be verbal warning, written warning, suspension or dismissal – again depending on the seriousness of the breach and / or the offenders past disciplinary record.Throughout all of the above the victim is kept informed and the victim can ask that a certain procedure be undertaken – ie: if they do not want a fuss they can ask that instead of disciplinary a warning is given to the person or they can refuse to undertake mediation because they are concerned it will not work or has not worked in the past. If the complaint is not upheld a meeting will be had with offender and victim individually to advise them of the reasons why and the outcome confirmed in writing to them.As in all disciplinary matters if either party is unhappy with the outcome grievance procedures can be commenced, this being done by requesting the same within 21 days of the formal decision. 8. Describe why the creation and maintenance of an environment that promotes and ensures equality and diversity is desirable. Describe the advantages for the organisation and provide examples. The advantage for ensuring Equality and Diversity are complied with within an organisation in the most basic sense is a better place to work.It builds a fairer environment for both staff and the public whereby they know that their views and rights, no matter their personal circumstances, will be dealt with properly and without prejudice. Ensuring prejudice does not â€Å"creep in† to a workplace is essential as prejudice breeds discontent and can cause severe upset to individuals or groups of people. The workplace has people from any cultural and economic backgrounds and therefore enforcing g ood equality and diversity practices means that a happy and social workplace develops. . Describe the consequences for your chosen organisation of failing to create and maintain a diverse and equal environment. You should consider aspects such as: †¢ Legal †¢ Economic †¢ Social Should the employer not create and maintain a proper Policy / Code of Conduct the consequences can be far reaching. A firm known to not comply with any policy could lose clients or professional contacts as they do not wish to engage with a firm that does not comply with Equality and Diversity.This could mean lost revenue and it could also mean that filling staffing positions is harder as people may be cautious of working for someone who would not support them if their rights were breached. Again legally a firm could be pursued via employment law and sued if a complaint via the tribunal was upheld whereby somebodies rights were breached or could be breached and there were no safeguards to protec t them.