Romanticism, Realism, and Modernism an Example of the Topic Literature Essays by

Romanticism, Realism, and Modernism Romanticism, Realism, and Modernism: The Stories Construction and Movement Romanticism, Realism, and Modernism are some of the literature movements that occurred and developed from one period to the other. Romanticism emerged the first while Realism exists the second and Modernism is the last among the three. However, these three movements overlapped one another. Even if Realism and Modernism emerged to deconstruct the existence of Romanticism, it still exists within the text of Real and Modern construction of the stories. This paper will tackle the stories where Romanticism, Realism, and Modernism exist. It will also discuss how these movements change the theme of these stories through the development of the characters, conflict, and resolution. From these, the theme of the stories presented in this paper is, Humanity is vain and evil in nature; the world consciously attempts to be good, though it is not. Need essay sample on "Romanticism, Realism, and Modernism" topic? We will write a custom essay sample specifically for you Proceed Undergraduates Usually Tell EssayLab writers: How much do I have to pay someone to write my essay online? Essay writers propose: Help With Essay Writing. Here Is Your Life Vest! Flauberts story entitled A Simple Heart was presented during the Romantic period. Its elements and literary images were depicted as symbolization of love and unselfish construction of being. Felicity was portrayed in this characterization. Through her, Flaubert showed his own way of deconstructing the traditional definition of Romanticism. Though it is a story of love, Flaubert illustrated that passion does not only exists between opposite sexes but also within friendship and family. It was seen that a person does not need to be intellectual to perceive the right kind of love because it is within the persons own acceptance and capability of loving. In the morning, from habit, Felicity went into Virginias room and looked at the walls. She missed not having her hair to comb, her boots to lace, to tuck her in her bedand not seeing continually her pretty face, not having to hold her hand when they went out together (Flaubert). Flaubert also showed in his story how Felicity counterattacks the love of a man towards him. It was seen that men are meant to be liars and egoistic. Flaubert also illustrated how men described women an object of desire and financial stability. However, through the creation of Felicitys love towards the people around her, the author portrayed an unconditional love. Henrik Ibsens story entitled A Dolls House and Cynthia Ozicks story entitled The Shawl are portrayals of Social Realism. These two authors showed in their story the definition and essence of woman in the society. The way the authors illustration of female characters, they emphasized the worth of women in a deprived and oppresses situation. These stories are issues of social construction that was putted into the womens head like a crown a crown of suffering and distress. The theme in these stories showed how the movement of Realism exists within the hands of the society. Because the society dictates that women are always behind men, they should always obey men despite of the odds, infidelities, and deprivations of men towards them. Nora said in Ibsens story, I have waited so patiently for eight years; for, goodness knows, I knew very well that wonderful things dont happen every day. Then this horrible misfortune came upon me, and then I felt quite certain that the wonderful thing was going to happen at last (Ibsen). However, despite of the womens way of characterizing their beings, Ozick showed resolution in her story as what Ibsen has also shown in his story. Nora recalls, She looked like a butterfly touching a silver vine, (Ozick) Even if Noras journey is full of misery and suffering because she had her daughter who could not able to eat and drink that made them weaker each day, she needs to be stronger. She needs to save her children from the march of death. The way she saw her daughter in this kind of beauty, she became stronger as what she needs to be. This is a form of realism that we could not take for granted. Women are always willing to sacrifice for their family. They do not need to be threatened or objected because it is already part of their individuality. Both Ibsen and Ozick wanted to convey the realism of women into the hands of the society. The theme of the stories changed and somehow transformed into a new found resolution because of the context of Realism. Frank Kafkas Metamorphosis and Frederick Douglasss Narrative of the Life of Frederick Douglass, an American Slave are depictions of modernistic creation. If we look at the generalized perspective, there is no difference between these stories from the ancient narratives of folklores and magical formation. However, the differences that can be seen in these stories are the attacks and symbolizations of the authors. They also used contemporary occurrences and conflicts to balance the story and be found into a modernism influence. Kafkas story is an illustration of family problems and circumstances that exists within because of their own weaknesses and incapability. He really did want to open the door, really did want to let them see him and to speak with the chief clerk; the others were being so insistent, and he was curious to learn what they would say when they caught sight of him. If they were shocked then it would no longer be Gregor's responsibility and he could rest (Kafka). It is part of the Modernism period because it was presented as a cultural crisis that exists and developed into the characters and their environment. Kafka showed that family tradition and culture cannot be taken off despite of the circumstances and unwanted situations that emerged in their lives. It deconstructs the tradition point of view towards the issue of romanticism and realism. Even if Kafka described the main character as an insect, he showed internal crisis that can be seen and felt throughout the narrative. It also consid ers new ideas and rationalization of facts that can be perceived within the environment of the characters. On the other hand, Douglass showed the importance of magic and power in every issue that may occur in every person. He identified his own identity as a symbolization of natural form of institution. Even if he is only a slave, he makes sure that there is a transformation that will emerge in his character at the end of the story. Douglass stated, This battle with Mr. Covey was the turning-point in my career as a slave. It rekindled the few expiring embers of freedom, and revived within me a sense of my own manhood. It recalled the departed self-confidence, and inspired me again with a determination to be free (Douglass, Narrative of the Life of Frederick Douglass, an American Slave). The author has illustrated in his story the crisis in his own personality because of his situation but he made an opposition to the oppressive and divesting situations. Through this, Modernism occurred and influenced the characters and outcome of the stories of Kafka and Douglass. In conclusion to this, it can be said the three major movements made a significant effect to the creation of the stories that were presented in this paper. The theme of the stories is based on the period and movements that exists during their times. However, there are also ways of constituting different attacks and symbolizations to strengthen or weaken the traditional construction of these movements. Works Cited Ibsen, Henrik. (2001). A Dolls House. 19 March 2008. Flaubert, Gustave. (2004). A Simple Heart. 19 March 2008. Kafka, Frank. (2005). Metamorphosis. Douglass, Frederick. (1999). Narrative of the Life of Frederick Douglass, an American Slave. The Rector and Visitors of the University of Virginia. Ozick, Cynthia. (2006). The Shawl. 19 March 2008.

Bipolar Issue Paper

Bipolar Issue Paper Bipolar Issue Paper Abstract: Treatment for the Bipolar Disorder patient is one of the complex to accomplish. They have an increased risk for cardiovascular disease, obesity and diabetes. This is not only due to their manic and depressive behaviors but the pharmacological treatment they receive. Studies have shown that they receive less screening and treatment for these conditions (2). There seems to be a gap between the mental and physical health care that leads to these comorbidities which can result to premature death for Bipolar patients. Importance of a multidimensional care model for the treatment of a Bipolar Disorder patient especially with any or increased risk for cardiovascular disease, obesity and diabetes. Proper screening, medication reconciliation, and help from many health professionals can help increase their physical health as well as their quality of life. Bipolar Disorder (BD) patients have an increased risk for cardiovascular disease, obesity and diabetes. Cardiovascular disease is also the leading cause of premature mortality among individuals with bipolar disorder. These conditions can be worsened by psychiatric symptoms and unhealthy behaviors such as inactivity, overeating and tobacco use (3). Diabetes and CVD are closely linked to one another, therefore a patient would be at risk for one just by having another. BD patients are 30% less likely to receive care for CVD and diabetes and tests for blood glucose and lipid (2). It may be easier to tell if someone is obese but CVD and diabetes do not show symptoms until they have progressed and are commonly known as silent killers. Therefore, detailed screening is important before these diseases cause permanent damage such as a myocardial infarction, kidney damage or even worse death. Individuals with Bipolar Disorder receive fewer prevention interventions and have difficulty implementing lifestyle interventions that can modify risk factors (7). Obesity can be linked to the characteristics of bipolar disorder, su ch as binge eating, sedentary behavior, and treatment non-adherence which stems from the shifting symptoms of mania and depression (1). Bipolar patients are less likely to seek help from their general practitioner because of decreased awareness of cardiovascular risk factors and symptoms (7). In nursing, it is key to educate patients and to never assume what they have been taught before. BD patients are not properly screened or educated just because they have a mental illness. â€Å"Poor quality of medical care for persons with bipolar disorder has also been attributed to the organizational and professional separation of mental and physical health care and to lack of effective self-management strategies that target cardiovascular disease-related risk factors† (1). Bipolar Disorder medications lead to an increased risk for cardiovascular disease and patients lack proper screening and treatment for these conditions. CVD and diabetes are twice as prevalent in SMI and are relate d to unhealthy lifestyle behaviors and the use of antipsychotic medications (2). Antipsychotic medications also have adverse effects that contribute to these conditions. These medications can lead to elevated glucose and lipid tests but BD patients are lacking the proper screening to determine these findings (2). â€Å"Atypical antipsychotics, lithium, and other mood stabilizers is postulated as one important determinant of weight gain† (4). As mentioned before, weight gain will lead to obesity which will increase a patient's risk for diabetes and CVD. BD patients are also less likely to be prescribed blood pressure management or cardiovascular medications (7). The effect of not being prescribed these medications could lead to many severe life-threatening conditions, the most serious being death. Lithium is one of the most common drugs prescribed for Bipolar Disorder patients and it has a small therapeutic index which increases the risk of toxicity. When lithium is given with angiotensin converting

Strategic planning Research Paper Example | Topics and Well Written Essays - 2000 words

Strategic planning - Research Paper Example Benchmarking b. Knowledge management c. Utilization of general quality management skills VIII. Conclusion a. General Statements about Wal-Mart. b. Strategic Planning Abstract This is an 8 and half pages of in depth evaluation and analysis of Wal-Mart. The paper focuses on a resource based analysis and SWOT analysis of Wal-Mart’s strategic planning. There is also a look at control development and evaluation followed by a discussion of quality management at Wal-Mart. Wal-Mart: A Master of Strategic Planning Name: (fill in) Strategic Planning Ashford University Wal-Mart: A Master of Strategic Planning Since its beginnings Wal-Mart has implemented strategic plans and innovative concepts to move to the place of the number one retailer in the world. What has made Wal-Mart a world leader in the retail industry? The purpose of this paper is to evaluate how Wal-Mart’s corporate management has succeeded through innovative strategic planning and implementation of the plans to grow Wal-Mart into a multibillion dollar operation. First section of this paper will contain a brief corporate background, an evaluation of culture and environment, and a resource-view analysis of the corporation will make up the first section of this paper. In section two, a deeper analysis of strategic planning and implementation, leading to the conclusion. Humble Beginnings Wal-Mart was the brainchild of Sam Walton. Sam Walton began Wal-Mart in the 1960’s after he had researched the changes in retail environments across the country. He drafted a plan for deep discounted operation that not only sold a variety of merchandise, but would include a pharmacy. His plan also would expand to include four types of retail stores; discount stores, supercenters, Sam’s clubs and neighborhood markets. Sam Walton opened his first discount store in the Rogers, Arkansas in July 1962. Walton incorporated his stores in 1969 with corporate headquarters in Bentonville, Arkansas. In 1970 his corporation went public. (Gamble and Thompson 2011) By this time his company had grown from the one store in the beginning to 38 stores. A short nine years later, in 1979, the company was at 276 stores in 11 states. Culture and Environment The culture that Sam Walton promoted and developed with his company was part of the strategies that lead to his company’s success. Walton’s four core principles for managing are treat employees as partners, build for the future, recognize the road to success includes failing, and involve employees at all levels in the total decision making process. The three basic beliefs that underlie the culture at Wal-Mart are respect for the individual, service for the customers, and strive for excellence. Walton was a hand on manager and has passed this philosophy on to the current CEO of the company. Walton’s legacy is still very present in the way the company handles employees, customers, and expansion. Resource-based Analysis This anal ysis will look at the resources that are unique to Wal-Mart and produce and maintain a competitive edge for the company. Wal-Mart’s most unique resource was the founder Sam Walton and his business philosophy. His willingness in pioneering discount stores in no traditional settings, pioneering just-in-time inventory, online processes with suppliers, maintained corporate offices in a low cost environment, and set an example for others that few have been willing to repeat. (Price 1996) The analysis done shows that as a corporation Wal-Mart demonstrates; a great

Strategic Management and Leadership Assignment Example | Topics and Well Written Essays - 3500 words

Strategic Management and Leadership - Assignment Example Its main competitors include Kmart, Targets, and Canada’s The Real Canadian Superstore (Wal-Mart stores Inc. 2014). If we talk about the rationale for growth and the success of the Wall Mart stores then there are many of the indicators which show the real success story of the company. The Wall Mart managers took many of the decisions which are the real cause behind their success and the growing development. These strategies may include the reduction in the intermediaries in its supply chain the direct relationships with the customers can increase the likelihood of development and success. Another strategy is the use of modern technology in its operations and processes, therefore almost every single operation at Wall Mart is now computerized and technology based and thus we can say that this involvement of technology is actually meant for the reduction in costs and also for time saving (Hoskisson, 2014). According to the recent research studies, there are almost 245 million customers who regularly visit Wall Mart stores in nearly 27 countries globally. The annual sales for the last year were appro ximately 473 billion dollars. This number of sales is a sign of popularity and the successful operations of the Wall Mart. Wall Mart is covering at least 25 % market share of the target market as compare to the other competitive stores (Wall Mart Stores Inc. 2014). Conversely, all other operations of the company have been attributed to good management that has put it at the top. Understanding customer needs helps in developing organizational culture that enable organizations develop and maintain competitive advantage (Hoskisson, 2014). Thus, various aspects of management have been documented to contribute to the success of a company. One of the most important reasons behind the success of the Wall Mart is the efficient cost management which helps to support the large network of Wall Mart Stores. Business expansion strategy is another

Relationship between Different Components of an Airport Research Paper

Relationship between Different Components of an Airport - Research Paper Example Landside portion; this portion consists of the arrival and departure enclosures, passenger handling area, baggage handling area, cargo handling, and processing area, retail, and catering area.  Landside portion; this portion consists of the arrival and departure enclosures, passenger handling area, baggage handling area, cargo handling, and processing area, retail, and catering area.  Airside portion; this portion consists of the runway, taxiway and the area where the aircraft stands before and after takeoff and landing respectively.  The above figure shows that an ideal airport should be having one side for its ‘departure’ functions while the other side is kept for ‘arrival’ functions. Both of these converge into the front or the urban access portion for seamless integration.  Suppose at present the airport handles 2.5 million passengers and it is being estimated that by 2016 it would have to handle 5 million passengers annually. The airport would h ave to go for expansion in the context of runways, terminals, taxiways, and allied services. The airport is important for the adjoining area from the perspective of economy, business, tourism, and social development.  Ã¢â‚¬ ¢ Points of consideration: Land issues: The existing airport when going for expansion would require a huge amount of land. There could be scientific, social, environmental as well as political issues in the context of acquiring land, which have to be taken into account. Runway-taxiway: Runways and taxiways should ideally run parallel. The dimensions of the former would depend on the number, size, and type of aircraft being handled.   The size and dimensions of taxiways would depend on the number of passengers being handled and the probable increase in the number in the future.

Public Relations Theories Study Marketing Essay

Public Relations Theories Study Marketing Essay 1.0 Introduction Public relations have been acknowledged as a powerful tool in commutations for individuals, groups, organizations and nations to achieve their respected purposes. Whether the purpose is for profit or not, public relations process a key stage that conveys messages between different parties. Individuals even see it as imperative aids for career promotion. For the past couple of centuries ¼Ã…’with the development of public relations techniques have become more and more sophisticated and, in a sense, more manipulative, the profession of public relations has become more important accordingly. As scholars, professionals and consultants explore further into this field; as a result, the theories are applied to multiple contemporary circumstances. Today, Public Relations, as a new and ever-improving profession or academic discipline, have taken on formats including, but not limited to, face-to-face and mediated communications to achieve goals for organizations and how strong relationships put these organizations in a strong competitive business position. In this essay, I will discuss how the Public Relations theories are applied in current environments given in the following three cases: The Case of Queensland floods Organization, in which Queensland volunteers, partnered with boutique PR agent Espresso Communications, launches a website to provide timely information for Queenslanders and establishes communications between people who are willing to help and those who need help; The case of Good Returns 100 Women campaign, which the organization uses pro-bono PR to help raise fund and provide microfinance for poor women in South Asia to start their own business and improve livelihood skills; The case of Malaysian Kitchen Food Market. Malaysian Kitchen Food Market introduces a campaign that MATRADE to improve awareness of Malaysian cuisine and restaurants in Australia. The first two are examples of PR practices for nonprofit organizations while the latter is considered a commercial case. In each of the three cases, organizations are creating communication that strengthens relationships of stakeholders to achieve their purposes by utilizing a combination of PR techniques through carefully selected media and detailed implementation plans. 2.0 Theory for Application in Case Analysis In this section, I will analyze and evaluate the role and application of public relations theory and practice in the commercial and public sectors using Grunigs models of PR practice and other models and theories. Based on Grunigs four models of PR practice, the following points are helpful in devising and implementing effective public relations (Harrison, 2011): 1. Press agentry, publicity, propaganda can be used to complete truth but not essential area in One-way, such as sports, theater and marketing promotion etc. 2. Public information can be used for truth important such as readability, readership surveys, government, not-for-profit and organizations etc. 3. Two-way asymmetrical can be used for persuasion, marketing PR and improve acceptance of the message from feedback of receivers. 4. Two-way symmetrical can be used to creates mutual understanding between sender and receivers such as in regulated business and flat-structured companies. 2.1 Dissemination of Public Information In determination of a publics communicative needs, does the public merely need to be provided with information, encouraged to alter a belief or to act on an issue, or sent feedbacks? Basic public relations activities are relatively simple and require only modest tools simple press release, work with the media, assemble a press kit and coordinate a press event. Development of these skills will enable nonprofit managers to accomplish key goals of increased awareness for fundraising events, volunteer opportunities and organizational programs, products or services. In the case of Queensland Floods, the first and foremost object for this nonprofit organization is to provide information for the people needed help in a timely manner. Public information display is the objective. Traditional media and new media are both used. Social media, relatively new channels, this is more like one-way information. While in the case of Malaysian, this organization tries to persuade receivers` perception on Malaysian food in order to shift their consumer behavior to make more benefit to the Malaysian restaurants. Many traditional media are interactional campaigns are held to support. While in the case of Good Returns 100 Women campaign, this is also a nonprofit organization used multiple media and Internet to disseminate the information of a campaign in order to get build high awareness of the organization. It spread their activities strategically instead of focusing on a single media, and builds a movement through convening discussion, stimulating online dialogu e, generating word of mouth and media coverage about the campaign. 2.2 Choice of symmetrical or asymmetrical communication determines whether to use one-way or two-way communication to enact the informative, persuasive message. The primary issue to consider is whether the method of communication should be in the organizations best interest or the publics best interest. The choice of symmetrical or asymmetrical communication should be based on whether the selection ultimately benefits the organization, the publics, or the dominant coalition. Ideally, the choice will result in a win-win position. For example, in the case of Good Return Women, the choice of Two-way symmetrical communication works both in the benefits of the organization itself. In the case of Queensland Floods, this is a campaign using two-way symmetrical model to generate media buzz. Constant dialogue with key team members to ensure messages were consistent and all parties kept informed with the status of the campaign and Liaise with numerous local government bodies and the QLD Local Government Association to ensure that we had a full understanding of how we could best communicate with those affected evidence this PR model that is more likely to change the other parties attitude and behavior. An interact platform has been created for stakeholders, volunteers and victims of the flood in this case, before a research for receiving the details of flood variety and communication with QLD Local Government Association has been done. Research is an imperative stage for two-way model (Harrision, 2011). Media effects theories has been seen in this in Communication Strategy in this case. The model illustrates the process of steps from people receiving message to taki ng action. At first, people get the persuasive message from the media and pay attention to the message. Understanding of the situation caused by flooding convinced receivers and swayed their attitudes, thus eventually led to actual actions. Also this case combined the Situational theory of public, during the communication process. Receivers realize the problems come, and then they probably start to think about it and what to do with it. High importance of the problem will cause high level of involvement, and subsequently receivers will be driven by the recognition to deal with it. 2.3 Multiple Messages Dissemination Publics may hold many different opinions about an organization based on the fact that the individuals that comprise a public do not have a static perception of the organization. That is, individual perceptions of an organization vary based on their interactional history with the organization. Therefore, multiple messages must be disseminated to accomplish the varying communicative needs of publics. 2.4 Relationships with stakeholders Corporate Responsibilities Management of publics should be seen as an opportunity to build or maintain relationships with stakeholders. Promoting issues of importance to a public is a good way to build coalitions, reach out to the media, and make connections with individuals of influence or those who may be interested in becoming involved with the organization. This campaign launcher plays as a not for profit organization also take high Corporate social responsibility on this campaign. We can see the evidence from the result of this campaign. The Australian, Kindness helps combat miseryà ¢Ã¢â€š ¬Ã‚ ¢ ABC Brisbane, Website organizes beds for homeless flood victims Brisbane Times, Make us your home page Courier Mail, Site helps flood homeless Brisbane Times, Hunt for Missing flood victims online The case of Good 100 Women is a good example of PR practice for worthwhile non-profit organizations with very limited or no budget for public relations. With the help of Porter Novelli, an inexpensive public relations program and a most cost effective way to promote its services was created. 2.5 Implementation How these three cases implemented their PR practices by comparing plans. In the case of MATRADE, the campaign successfully increased popularity and established a clear definition of Malaysian food to the mind of Australians. As a commercial PR campaign, the practice and implementation is quite different from that of the Queensland Flood or the Good Return. It is important to underscore the connection between the public relations strategy and the organizational mission. Assess your public relations needs and tailor your plan accordingly. The PR practice generally follows an AWARENESS-INTEREST-DESIRE-ACTION model. First, partnering with Pulse, MATRADE found out the target audiencesnot just the Malaysian population in Australia, but also consumers in a broader meaning. By carefully implemented to showcase Malaysian cuisine to traditional and social media, social media though achieve its goal to increase awareness of Malaysian cuisine and thus increase footfall to Malaysian restaurants. Desire was created and consumer took actions-they made their purchase decisions. The results of the campaign were obvious: Malaysian restaurants experienced an increase in sales of approximately 30 per cent. 3.0 Ethical and Risk Issues relevant to these Public Relations Practices Corporate social responsibility is an important work for a Corporation or organization with long-term development, although people think that the responsibilities to public should be taken by government or country. However, to gain extension of a company who has already operated for many years, corporate social responsibility will be a key to increase the values. Corporate social responsibility does as no specific standard or rulers; it can be a philosophy notion. When a company starts to perform its business base on social responsibility, all of the management will be different. This attributes that ethic will be taken in high priority than profits, as well as high profile services for customers, as products are responsible for society. As a result, the company business is a social mission. If a company is lack of this responsibility, staffs find no honor and work holding no meaning. 4.0 Conclusion Public relations, after all is the process to draw on the most relevant theories and principles to help an organization to communicate betterbe it for commercial or nonprofit organizations. (Bernays, 1952) Public relations is not just a one-way street that only deliver message from one party to another, but a two-way street where leadership and the public find common purpose with each other and in which objectives and goals are predicted on the coincidence of public and private interest. (Grunig, 1984) Public relations practice is a channel to convey messages by persuading specific audiences to achieve successful professional performance, whether for commercial or nonprofit organizations. Its a set of actions to achieve desired outcomes based on research and strategies. However, sometimes dissonance between audience and group of stakeholders will be created when the interests of audiences and stakeholders are different on public relations. And given the rise of influence of stakehold ers on decisions, values, beliefs, policies and management of organizations, it is important to maintain effective stakeholders relationships and cater for the needs of different parties.

Saving The World :: essays research papers

Is it too late to save the world? Probably not! Perhaps the real question should be if society will actually do something about it or not. Perhaps the world leaders are more interested in money than the welfare of the environment. Money makes the world go round, this could be true from an economical point of view but from the environmental aspect money is being fed into the wrong areas and screeching the world to a halt. The world should be putting plans into action at this stage in the earths rescue. Instead scientists are still trying to ‘understand’ what is going on. This is just taking up more and more time, leaving the earth to rot as they do their ‘research.’ There are many different ways that we as the earths population are destroying the environment. For example, the tall cooling towers used by industries. They do not remove pollutants but simply push them higher into the atmosphere, in this way they reduce their concentration at that particular area. The pollutants may then travel over large distances and produce negative effects in areas far away from the original site. This is only one example of how we are destroying the environment. Power stations are another source. These power stations make use of the cooling towers mentioned earlier, they also emit poisonous gasses such as some nitrogen oxides and probably more dangerous, greenhouse gases such as carbon dioxide and chlorofluorocarbons (CFCs). What are the consequences of this pollution? We have all heard about the hole in the ozone layer, global warming or even the famous armageggon. These are more drastic examples, why not look at some cases that have already happened. For instance acid rain is a regular occurrence all around the world.

Ontario Teacher’s Pension Plan Essay

Ontario Teacher’s Pension Plan Board: Hedging Foreign Currency Exposure Ontario Teacher’s Pension Plan Board: Hedging Foreign Currency Exposure Issue Identification The Ontario Teacher’s Pension Plan (OTPP) is a defined contribution plan that was created in 1917 to provide and administer a pension plan for Ontario school teachers. Sponsored by the Ontario Government and the Ontario Teacher’s Federation, the plan currently supports 343,000 teachers, former teachers and pensioners. The recent government decision to eliminate the 30% constraint on foreign investments and the increased volatility in the currency market has prompted the OTPP Investment Committee to address the following: 1. Whether to continue the International Equity Swap Program 2. Whether to administer changes to the Foreign Exchange Hedging Policy Goals and Objectives In order to come to a decision, it is necessary that any solution put forth must align with the goals and objectives of the fund. OTPP is a long-term fund determined to minimize risk, costs and the additional contributions required to fund the plan while maximizing its returns. OTPP Investment Strategy In the early 1990’s the OTPP board realized that it was essential to begin investing abroad to diversify risk and to capitalize on international opportunities to achieve greater returns, given the size of the fund. However, it was not until 1996 that the Foreign Exchange Hedge Program (FX Hedge Program) was implemented in response to a significant rise in currency exposure. As the fund faced increased foreign currency risk, risk management became essential and thus, a hedging policy of 50% of its foreign currency exposure was introduced. Due to the fact that OTPP has a continual commitment in supporting its pensioners, it must expose itself to limited risk and effectively hedge against any unexpected changes in its investments. Hence, a conservative policy of hedging 50% of foreign exchange exposure was enforced. Additionally, the International Equity Swap Program (IE Swap Program) was implemented as a solution to the government restriction of 30% ownership of foreign investments. Since most assets were tied up in non-marketable Ontario Debentures, a swap program enabled OTPP to reallocate its assets. OTPP Performance Evaluation The strategic decision to diversify beyond Canada and into global markets has proved to be beneficial to the OTPP investment portfolio. It has contributed substantial value to the fund over the 10 year period (1995-2005) by reducing potential losses, since five of the six foreign currencies appreciated against the Canadian dollar. For the past 15 years, OTPP investments have also consistently outperformed the benchmark rate of returns, generating a 10-year average rate of return of 11. 4% and a gross return of $15. billion over benchmark returns. Despite the portfolio’s negative rate of returns in 2001-2002, it has still produced considerable investment growth in relation to the benchmark, demonstrating the strength of OTPP’s investment policies in risk management. However, since interest rates have declined by approximately 3% (1990-2004), the value of the pension fund has increased. This has resulted in larger amount of payments made to pen sioners. Additionally, the demographics of the OTPP plan membership have changed significantly over the past 30 years. The ratio of active members per retiree has decreased from 10:1 in the 1970s to the present ratio of 1. 6:1. Moreover, the expected years retirees rely on the pension have also increased to 29 years. All these factors have exerted a great deal of pressure on the pension plan to sustain its funding with contributions from fewer working teachers. With the foreign currency market being increasingly volatile, OTPP is concerned regarding its future ability to support pension payments. Decision Criteria The Investment Committee must consider the following criteria when deciding whether to implement changes to the International Equity Swap Program and Foreign Exchange Hedging Policy: the fund’s exposure to foreign exchange risk, transaction costs, and an alignment of goals and objectives of the fund. Alternative: Although OTPP has performed well in the past, the future outlook of the pension plan remains uncertain. Therefore, OTPP has four alternatives to the future direction of the fund. OTPP can continue or discontinue the IE Swap Program and maintain or revise the current 50% FX Hedge Policy. Continue/Discontinue the Swap Program Previously, the swap program was used as a means to bypass the government restriction on foreign investment. With the regulation being lifted, OTPP has to now evaluate whether the swap program remains necessary. The program has allowed OTPP to reallocate their assets cost-effectively as it eliminates OTPP’s cost of transacting directly in foreign exchange market. Moreover, since OTPP does not gain ownership of the securities, it has reduced the amount of cash required and limited its risk by transferring the risk to counter-parties (UBS, Credit Suisse, JP Morgan, etc. ).

Find Out Where Killer Whales Live

Find Out Where Killer Whales Live Despite their prevalence in marine parks such as SeaWorld, killer whales (otherwise known as orcas) are a wide-ranging cetacean species in the wild. Learn more about where killer whales live and how they survive. Killer whales are found in all of the worlds oceans. In fact, the Encyclopedia of Marine Mammals states that they are second only to humans as the most widely distributed mammal in the world. You can see a killer whale range map on the IUCN site. These animals seem to prefer cooler waters, but may be found from warm waters around the Equator to polar waters. Orcas may enter semi-enclosed seas, river mouths, and ice-riddled areas, in addition to inhabiting waters far out in the open ocean.You may think they only live in deep oceans, but populations have been recorded living for longer periods of time in only a few meters of water.   The question of where killer whales live is complicated by the fact that there is disagreement over how many species of killer whales there are. Studies on killer whale genetics, physical appearance, diet, and vocalizations have led scientists to believe that there are more than one species (or at least subspecies) of killer whales (you can see a great illustration of the different types of killer whales). Once this question is answered, the habitat for various species may become more defined. SeaWorld notes that there are a few different types of Antarctic killer whales in different regions:  Type A killer whales live offshore in water that does not include ice.Type B orcas live in inshore waters of Antarctica and the Antarctic Peninsula; large type B near the pack ice; and small type B venture out to more open waters.Type C killer whales inhabit inshore waters and pack ice. They are most commonly found in the eastern Antarctic.Type D orcas reside in deep, subantarctic waters. The whales move around and can migrate based on where their prey goes. Where Orcas Live Areas where killer whales have been well-studied include: The Southern Ocean around AntarcticaThe Pacific Northwest  (where salmon-eating resident orcas, mammal-eating transient orcas, and shark-eating offshore orcas have been identified)AlaskaNorth Atlantic Ocean (Norway, Iceland, Scotland and the Strait of Gibraltar)On more rare occasions they have been seen in waters off of the Bahamas, Florida, Hawaii, Australia, the Galapagos Islands, the Gulf of Mexico, New Zealand, and South Africa.Rarely, they have been seen in freshwater locations.   Killer Whale Living Relationships Within the populations of killer whales in various areas, there may be pods and clans. Pods are long-term units made up of males, females, and calves. Within the pods, there are smaller units called maternal groups, consisting of mothers and their offspring. Above the pods in the social structure are clans. These are groups of pods that associate over time and may be related to each other. Want to see killer whales in the wild? You can get a list of whale watching sites around the world, many of which offer the opportunity to see killer whales.

Conductivity Prac essays

Conductivity Prac essays Aim: To investigate the electrical conductivities of metallic, ionic, covalent molecular and covalent network substances when in the solid, liquid, and solution phases. Substance Solid (Class) Molten Solution Lithium Chloride X Probably Ionic X Tick ( ): shows conductivity (more than one shows more conductivity) The Zinc, Tine and Copper all conducted electricity and the bond is known as a Metallic Bond. There is a cloud of elections moving freely so it enables metals to be good conductors. Most metals are shiny and quite hard. An Ionic substance such as Potassium Chloride and Lithium Chloride do not conduct electricity in solid form but conducts when combined with H2O. When Ionic is in solid form most have a firm and secure bond but when combined with H2O the bond is worst. Therefore the separated substances can conduct electricity. A Covalent bond such as Ethanol, Glucose, Sucrose and Graphite generally do not conduct but in some cases they can. For example Graphite can conduct electricity because it has a free electron. We can see that all the metallic substances conducted electricity quite well. The Ionic Substances however did not conduct in a solid form but it did conduct in water and we can assume it happened because of flux. On the other hand the covalent substance did not conduct in liquid or solid form or in H2O. Graphite is a non-metallic and is not an Ionic bond however it still conducts electricity. This happens because of the free electron Graphite ...

Balanaced Scorecard and Performance Measurements Case Study

Balanaced Scorecard and Performance Measurements - Case Study Example 2007). The scorecard is effectively utilised in measuring the utilisation of resources in seeking to achieve the objectives stipulated within the context of the organisational vision and mission statement. The balanced scorecard for Otago Museum makes consideration of the companys objectives as compared to the various stakeholders within the organisational structure. The various stakeholders within the organisation need to be able to measure the performance in relation to the objectives of the organisation. As a non-profit organisation, effective functioning of the internal systems is essential in ensuring the stakeholders are focused in performing their responsibilities within the organisation. A consideration of the organisational vision enabled transformation of the objectives into operational goals, which become the fundamental responsibilities for the various stakeholders. The understanding of their responsibilities enables the stakeholders to identify instances when operations are not within the desired outcomes. This enables the stakeholders to adopt measures for making corrections in seeking to ensure the operations remain within the expected standards. These are the stakeholders who have continuously ensured the organisation remains operational. Their fundamental function is the coordination of resources towards achieving the identified outcomes of the organisation. These individuals are involved in the development of the organisational strategies in seeking to ensure delivery of the strategic objectives. Many of the developed strategies remain based on the organisational objectives, which are derived from the vision. The management functions and leadership provided by these stakeholders has remained fundamental in ensuring continued operation of Otago. These stakeholders need to be constantly informed about the modern trends within the business in order to integrate them within the context of Otago operations. The strategic

Expression of Political Thoughts in Latin American Cinema 1980s Article

Expression of Political Thoughts in Latin American Cinema 1980s - Article Example The filmmakers of that era proficiently employed their skills and creative capabilities to reveal huge issues in front of the masses using examples of different individuals and their lives (Wilson, p127). For instance, the official story (1985) tells about the miseries of people that were taken away from their homes during the Dirty War took place in Argentine. Romero (1989), on the other hands, tells how the authorities use to brutally deal with the people who publicly talk against their unfair acts. In the same way, Missing (1982) tells the story of American journalist disappeared during the Chilean cope of 1973 in order to refer the prodigious missing of people during the war. These films are based on different situations and stories, however; the common theme among these movies is the portrayal of true incidents took place during the war and political turmoil in Latin America during the 1980s. â€Å"The official story† was directed by Luis Puenzo in 1985 that basically tells the tale of a woman’s odyssey from complacency to political awareness. It was produced after the demise of the regime of the last dictator of Argentine General Galteiri in 1983. The movie is based upon real events occurred in Argentina during the late 1970s and 1980s, collectively referred to as Dirty war. The movie describes the real political incidents took place in 1976 when the Jorge Rafael Videla reactionary military known as â€Å"junta† came into power in Argentine. The Junta rule suspended the parliament, unions and political parties. The dictator rule initiated the Dirty War during which thousands of people were exiled from their homes. The movie highlights the issue of the disappeared people and tells about the repression and torture being experienced by the people of Argentina at that time. In the movie, Norma Aleandro played the role of high school teacher Alicia that lives with her husband Roberto who was a wealthy businessman and lawyer and uses to remain engaged with the government. The couple adopted a little girl named Gaby from the political prisons and after some years Alicia became inquisitive to know about the parents of her adopted daughter.