American History :: essays research papers

unite States (History), story of how the republic developed from colonial beginnings in the 16th century, when the first European explorers arrived, until modern times. As the solid ground developed, it expanded westward from sm in alone settlements along the Atlantic Coast, eventually including all the territory among the Atlantic and Pacific oceans across the middle of the North American continent, as well as two noncontiguous states and a number of territories. At the same time, the population and the economy of the United States grew and changed dramatically. The population diversified as immigrants arrived from all countries of the world. From its beginnings as a remote English colony, the United States has developed the largest economy in the world. Throughout its history, the United States has faced struggles, both within the countrybetween various ethnic, religious, political, and economic groupsand with other nations. The efforts to deal with and resolve these struggle s have shaped the United States of America into the 21st century.This is one of seven major articles that together set aside a comprehensive discussion of the United States of America. For more information on the United States, please see the other six major articles United States (Overview), United States (Geography), United States (People), United States (Culture), United States (Economy), and United States (Government).II Early Cultural Interaction Print Preview of Section Early American history began in the collision of European, West African, and Native American peoples in North America. Europeans discovered America by accident, then created empires out of the conquest of indigenous peoples and the enslavement of Africans. stock-still conquest and enslavement were accompanied by centuries of cultural interactioninteraction that spelled disaster for Africans and Native Americans and triumph for Europeans, to be sure, but interaction that transformed all three peoples in the pr ocess.A Native America in 1580 The lands and human societies that European explorers called a New World were in fact very old. During the grump Ages much of the worlds water was bound up in glaciers. Sea level dropped by hundreds of feet, creating a land bridge between Alaska and Siberia. Asians walked across to become the first human inhabitants of the Americas.

Othello :: essays research papers

Othello.Othello is the title of the char achievementer and play that we all studied earlier this semester. However, it is Othello the character that I intend to discuss. Othello is the husband to the beautiful and innocent Desdemona, whom he murders because the nefarious and honest Iago has misled him. A Moorish general in Venice, a hostelry plagued with racism and where adultery is neither condemned nor approved of, Othello is in the midst of a society that will hinder and not support his progress. The central theme of the drama is the alteration of a noble lover to a raving killer, under the act of the deliberate connivance of his aide, Iago, who convinces him that his wife is having a love affair with another officer named Cassio. Unable to trust the falsely corrupted Desdemona - he lacks the essential grammatical constituent of love and it is this absence of trust that causes Othello to disintegrate morally. This destructiveness extends to his own suicide, when his error of judging Desdemona to be an adulteress fails him. Our closely woven relationship with this traumatised and gullible Othello causes us to fit with him, as he experiences emotional agonies, such as the destruction of his once reputable nobility, character and marriage to the young Desdemona. Through Act II, perspective I, Othello presents himself to us as a grandly positive and content character, "It gives me wonder great as my contentTo see you here before me. O my souls joy"(Act II, Scene II).At this stage in the play Othello has also assembled his character to impose on us an impression, that he is a noble and prominent figure in the Venetian establishment, and respected military man and a loving husband. He carries himself with an impressive dignity while frankly delighting in his young wifes unconditional love, which he values above the "seas worth", (Act II, Scene I). When the couple defend their marriage against the prejudiced Brabantio, father to Desdemona, wh o associates Othello with witchcraft, (because Othello is black), in Act I, Scene III, it becomes evident that the couple mete out an unconditional love for one another.However, in the second half of the play Othello abandons this perfect love, for a blind and unfounded jealousy too strong to act in a just manner. He loses all faith not only in Desdemona, but especially himself, "Thats he that was Othello Here I am.

The Philosophy of Medicine :: Epistemology

The Philosophy of MedicinePhilosophy of Medicine? In Arthur Caplans 1992 paper entitled Does The Philosophy of Medicine Exist? he argues that if a school of thought of medicate existed it would be concerned with epistemological or metaphysical questions. Caplan states The goal of the philosophy of medicine is epistemological (71). Caplan adds the goal of the inquiry is to understand what those in medicine find they know and why they think they know it (71). In conversation with professor Caplan he has recently stated that he still holds the conclusion of his paper namely, that a philosophy of medicine does not currently exist.1 It will be my general aim to look at the discussion that takes place in some of the abridgment of the medical field with a focus on epistemology. Specifically it will be my intention to distinguish in some of the topical literature if the questions increase ar rightly epistemological yet or in need of some clarification. I accept Professor Caplans stip ulative definition that states that a field must(prenominal) be well-integrated with other cognate inquiries and disciplines, have an established canon of key books, textbooks, anthologies and articles, and a set of distinctive and defining problems (67). Epistemology meets all of these requirements. In attempts to assist medicine, authors from mingled quarters have offered analyses but confused what is and is not rightly epistemology. This confusion in turn blurs the distinction between philosophy in medicine and philosophy of medicine.2 The resulting cloudiness may be an obstacle in the way of the development of the philosophy of medicine. I believe the importance of merely recognizing whether we are asking questions slightly the thinkers or about that which may not be the thinker is a particularly relevant foundation to philosophy of medicine. In line with an element of Professor Caplans definition of the philosophy of medicine (69), I will attempt to explicate the key concept s in philosophy in medicine of uncertainty and underdetermination. Epistemology Epistemology is a branch of philosophy that is concerned with theories of knowledge. Its study focuses around the nature, scope, and basis of knowledge, and the reliability of claims to knowledge. Epistemology must often take up debates over where and how knowledge is obtained, and the role of reason.3 The tools of epistemologists consist of, but are not limited to, truth-bearers, truth-makers, truth-conditions, sentences, propositions, beliefs, criteria, justification, foundations, certainty, determination, coherence, usefulness,and correspondence. All these terms carry different weight and notions within individual epistemological theories, and need not be fully unpacked to facilitate their purpose in this investigation.

Narrative Voices in Shelleys Frankenstein and Fathers and Sons by Ivan

Narrative Voices in Shelleys Frankenstein and Fathers and Sons by Ivan Turgenev I have chosen to discriminate the narrative voices of Frankenstein andFathers and Sons, as the perspectives in these two novels differ fromone another. Frankensteins narrative voice contains tales of threecharacters within one narrative, none belonging at one time to theauthor, whereas the narrative voice of Fathers and Sons, is that ofthe author alone.Examples I will be using are taken from The Realist Novel (TRN),and from the novels of Frankenstein (F) and Fathers and Sons (F&S).Mary Shelleys novel Frankenstein is an example of first- soulfulnessnarrative, with Walton describing his encounters in letters to hissister Margaret, in England. He includes his meeting captainFrankenstein, of Victors experiences with his creation ofFrankenstein the behemoth, and the monster himself and his experiences.This narrative is written in the human body of letters, with the use of thisepistolary style of writing novels giving verisimilitude to theevents, as Walton writes of them as he is told. He is the narrativevoice of the whole novel enveloping the characters of Victor and themonster, the characters of whom, develop as the story progresses. Thisnarrative perspective structures the novel, portraying events as trueto life, resulting in its realistic theme. The confession of Victornestles within Waltons narrative, with that of the monster nestlingwithin that. This technique of having one story nestling withinanother follows a Gothic convention, (P.63 TRN). There are manynarrative perspectives, which crystallise it a Gothic novel, another exampleshowing this is the atmosphere of mystery and horror, when Victor iscreating his mo... ... sharp towards the tip, with large greenish eyes andsandy-coloured droopy sideburns, (p.7) and of the monster asdescribed by Victor in Frankenstein, His yellow skin scarcely coveredthe work of muscles and arteries beneath his hair was of a lustrousblack, and f lowing his teeth of a pearly whiteness. (P.56).In Fathers and Sons, Turgenev reflects the theme of fatherhood, with bask and affection shown between Bazarov and his father Ivanovich,Arkady and his father Nikolai and also Nikolai and his small sonMitya. In comparison, Shelley in Frankenstein labours on theabandonment of the monster by his creator. In effect, Victor is thefather of his son the monster and he has abandoned him at hisbirth. This showing of paternal love in Fathers and Sons and theabandonment of it in Frankenstein shows an important comparisonbetween the two novels.

Euthanasia: A Painless Deaceful Death Essay -- Argument for Euthanasia

Euthanasia is a painless peaceful death. Euthanasia is be as the deliberate putting to death of a person suffering from a painful, incurable disease(New Standard Encyclopedia Dictionary). People use other basis to describe euthanasia mercy killing, assisted suicide, and physician assisted suicide. Euthanasia can be unresponsive, (inactive) or active. Unresponsive euthanasia occurs when an incurably ill person refuses life sustaining medical support. Active euthanasia happens when another person deliberately causes the death of a terminally ill person, such as when someone gives a terminally ill person a lethal injection. Euthanasia can also be voluntary or involuntary. Voluntary euthanasia occurs with the consent of the demise person, while involuntary euthanasia happens when the dying person doesnt give their consent. The right to die term used in the support of euthanasia started in the 1970s. It describes the rights of those that are terminally ill or those that are seriously injured. It started in the 1970s with the case of Karen Ann Quinlan from New Jersey. Karen fell into a coma from the use of drugs and alcohol. macrocosm kept alive with a respirator and feeding tube, her parents decided on pulling the plug and ending her life. In 1976, Karen was infirmaryized in a Catholic Hospital. The hospital refused the parents request to end her life. The Supreme Court of New Jersey ruled that the parents of Karen Ann Quinlan had the right to decide their daughters fate. This decision started the right to die issues (Charles E Hughes). Neutralization whos against it and whos for it, some of the arguments against euthanasia are that suicide no matter how or why is wrong. Under special conditions even the Catholic Church... ...e is a quote The care of human life and happiness and not their destruction is the first and only legitimate object of good government (Thomas Jefferson). on that point is no quality of life when the patient is dead (Nurse). Conclusio nThere are good sides and bad sides to euthanasia. It all depends on which side youre on. The primary(prenominal) idea is that a patient should have a choice and that choice cant be taken away from them. People make choices everyday, sometimes those choices are difficult, but those choices should not be taken away by the government, or buy a physician who thinks their patient cannot make a workmanlike decision. The elderly and the terminally ill should be able to make their own choice. It seems as if everything else is taken away, so their rights should not be an exception. Given the choice, seniors might intuitive feeling as if they are dying with dignity.

Billy Sunday Essay -- Essays Papers

Billy Sunday For almost a quarter century Billy Sunday was a kinfolk name in the United States. Between 1902 when he first made the pages of the New York Times and 1935 when the paper c everyplaceed his death and memorial service in detail, people who knew anything about current events had heard of the former major league baseball player who was preaching sin and salvation to large crowds all over America. Not everyone who knew of the famous evangelist liked him. Plenty of outspoken critics spoke of his flashy style and criticized his conservative doctrines. But he had hundreds of thousands, perhaps millions, of loyal defenders, and they were middling as loud in their praise as the critics were in their criticism. Whether people stood for or against the Reverend William A. Sunday, they all agreed that it was difficult to be indifferent toward him. The religious leader was so extraordinarily popular, opinionated, and vocal that indifference was the last thing that he would get from people. His most loyal admirers were confident that this rural-breed preacher was Gods mouthpiece, calling Americans to repentance. Sundays critics said that at best he was a well-meaning buffoon whose sermons vulgarized and trivialized the Christian message and at worst he was a disgrace to the name of Christ (Dorsett 2).There are elements of truth in both of these views. He was often guilty of oversimplifying biblical truths, and at multiplication he spoke more out of ignorance than a heavenly viewpoint. He was also a man with numerous flaws. He spoiled his children, giving them everything that they asked for. He put enormous responsibility on his wife, burdening her with many aspects of his ministry. He always noticeably sought the applause of the crowd for his own praise. He often woolly the will of God with his own social and political agenda. He even sometimes compared the gospel of rescuer Christ with special interest and American international polic y. Nevertheless, Billy Sunday was a sincere man whose life was fundamentally changed by his response to an evangelists call to repent of his sins, to believe that Jesus Christ died in his place for those sins, and to follow Christ in thanksgiving by worshiping and obeying him. Following this spiritual rebirth, the convert became deeply devoted to Jesus Christ. A devotion manifested in living out many of ... ...ee baseball seasons stood up at the street preachers invitation and abruptly announced to his teammates on the curb, Boys I bid the old life good-bye. Billy considered going down during the invitation but did not. After several days of agonizing over this Billy went back to the flush and decided, With Christ you are saved, without him you are lost (Sunday Satan 4). He committed his life that night to a cause that he saw was more classical than any baseball game ever played.Despite becoming largely famous after being traded to Philadelphia, it would be the results of that decision at the Pacific garden Mission that the world would remember Billy Sunday for. Some applauded Sunday and his methods others did not. But there is no question that Sundays sensational occupational group was a phenomenon Americans would not soon forget.Works CitedDorsett, Lyle W. Billy Sunday and the Redemption of Urban America. Grand Rapids W.B. Eerdmans Pub, 1991.Ellis, William T. Billy Sunday The Man and His Message. n.p., 1914. Sunday, Billy. Billy Sundays Sermons. Omaha Omaha Daily News, 1915.Sunday, Billy. Face to Face With Satan. Knoxville Prudential Pub, 1923.

Billy Sunday Essay -- Essays Papers

billy goat sunshine For almost a quarter century baton Sunday was a household name in the United States. Between 1902 when he first made the pages of the New York Times and 1935 when the paper covered his death and narrative service in detail, people who knew anything about current events had heard of the former major league baseball player who was preaching sin and salvation to too large crowds all over America. Not everyone who knew of the famous evangelist liked him. Plenty of outspoken critics spoke of his flashy style and criticized his conservative doctrines. But he had hundreds of thousands, mayhap millions, of loyal defenders, and they were just as loud in their praise as the critics were in their criticism. Whether people stood for or against the Reverend William A. Sunday, they all agreed that it was difficult to be indifferent toward him. The religious leader was so extraordinarily popular, opinionated, and vocal that indifference was the last thing that he would get from people. His most loyal admirers were confident that this rural-breed sermonizer was Gods mouthpiece, calling Americans to atoneance. Sundays critics said that at best he was a well-meaning buffoon whose sermons vulgarized and trivialized the Christian message and at worst he was a disgrace to the name of Christ (Dorsett 2).There are elements of truth in both of these views. He was often guilty of oversimplifying biblical truths, and at times he spoke more out of ignorance than a heavenly viewpoint. He was also a man with numerous flaws. He high-risk his children, giving them everything that they asked for. He put enormous responsibility on his wife, burdening her with many aspects of his ministry. He always noticeably sought the applause of the crowd for his own praise. He often confused the will of God with his own social and political agenda. He even sometimes compared the gospel of Jesus Christ with special please and American foreign policy. Neve rtheless, Billy Sunday was a sincere man whose life was fundamentally changed by his response to an evangelists call to repent of his sins, to believe that Jesus Christ died in his place for those sins, and to follow Christ in thanksgiving by worshiping and obeying him. Following this spiritual rebirth, the convert became deeply given up to Jesus Christ. A devotion manifested in living out many of ... ...ee baseball seasons stood up at the street preachers invitation and abruptly announced to his teammates on the curb, Boys I bid the old life good-bye. Billy considered going down during the invitation but did not. After several days of agonizing over this Billy went back to the mission and decided, With Christ you are saved, without him you are lost (Sunday Satan 4). He committed his life that night to a cause that he cut was more important than any baseball game ever played.Despite becoming largely famous after being traded to Philadelphia, it would be the results of that decision at the Pacific Garden Mission that the world would remember Billy Sunday for. Some applauded Sunday and his methods others did not. But there is no question that Sundays sensational career was a phenomenon Americans would not soon forget.Works CitedDorsett, Lyle W. Billy Sunday and the Redemption of Urban America. Grand Rapids W.B. Eerdmans Pub, 1991.Ellis, William T. Billy Sunday The Man and His Message. n.p., 1914. Sunday, Billy. Billy Sundays Sermons. Omaha Omaha Daily News, 1915.Sunday, Billy. Face to Face With Satan. Knoxville Prudential Pub, 1923.

Business & Cultural Strategy of Walt Disney

REPORT SUBJECT STRATEGY AND CULTURE OF THE WALT DISNEY COMPANY BY SARAH PETER BACKGROUND For much than eight decades, the name Walt Disney has been paramount in the industry of family enjoyment. From humble beginnings as a study studio in the 1920s to todays global corporation, The Walt Disney accompany continues to proudly provide quality recreation for every member of the family, across America and around the world. Originally k directly as the Disney Brothers sketch Studio, with Walt Disney and his brother Roy as adapted partners, the company soon changed its name, to the Walt Disney Studio, at Roys suggestion.Young arrived in California in the summer of 1923 with dreams and determination. He had do a short film in Kansas urban center about a little girl in a cartoon world, called Alices Wonderland, and he planned to use it as his pilot film to sell a series of these Alice Comedies to a distributor. On October 16, 1923, a New York distributor, M. J. Winkler, contracted to release the Alice Comedies, and this date became the formal beginning of The Walt Disney fraternity. Section 1 External Environment a)The examples of factors that befuddle effected the way it has be motherd are as costs. Social The Walt Disney Company fostered the spirit of creativity, innovation and excellence that continues to underlie all of the companys success. It believes that quality entertainment is for all members of the family across America and around the world. It gives a chance for the whole family to sit together and have a good time. Technological Silent cartoons were produced in as early as 1927. He introduced the first film with synchronized sound The Jazz Singer.This was a huge success and later implied on rice paddy Mouse, Silly Symphonies, Steamboat Willie, etc. Mickey Mouse became an immediate sensation instantly. In partnership with Pixar Animation, the company released the first computer-animated feature film, Toy Story. This was followed by a series of highly successful Disney/Pixar collaborations, A bugs life, Toy Story 2, Monsters, Inc. , Finding Nemo and The Incredibles. Economic These movies were released in the theaters and people enjoyed watching them with their kids at a normal rate.These movies were non charged any differently than the Hollywood Classics. Political During the war, Walt Disney made two films about South America, Saludos Amigos and The Three Caballeros, at the request of the State Department. The studio also knockout on producing propaganda and training films for the military. When the war ended, it was difficult for the Disney Studio to regain its pre-war footing. With the advent of World War II, the company lost access to close to of its foreign markets. The studio was also at both(prenominal) financial risk.Legal Factors Within a year of its existence, Walt made 26 Oswald cartoons, but when he tried to get some additional m cardinaly from Winkler for a second year of the cartoons, he found out that the distributor had gone behind his back and signed up about all of his animators, hoping to make the Oswald cartoons in his own studio for less money without Walt. Since the distributor owned the justs to Oswald, there was nothing Walt could do. It was a painful lesson for the young cartoon producer. From then on, he learned that he owned everything he made.Later Walt with his chief animator Ub Iwerks, designed a mouse whom his wife named Mickey, and a jumper lead was born. (b)The relationship between the Walt Disney Company and the surroundings according to SWOT analysis is as follows The Walt Disney Companys Strengths 1. The Walt Disney Company is the second largest media and Entertainment Corporation in the world, after Time Warner, according to Forbes. 2. Diversified Entertainment Company. 3. It owns media networks as well as parklands and resorts. 4. It makes movies and markets consumer yields. 5. Developed a very strong and well known brand-name and image over many year s. 6.Disney Land is the top rated destination for vacation. The Walt Disney Companys Weaknesses 1. The idea of Disneys frequent change in top management. 2. Broader product portfolio gains many different niches and gives them a bigger image, but it also means that there are going to be that many more workers. This means majusculeer possibilities for miscommunication and a high chance for a bureaucracy in the company. As of September 2007, there were 130, 000 people working for Disney in some way or another. 3. According to many, the Hong Kong Disney Land Resort has yet to live up to the expectations of Disneys resorts and parks. The $1. 8 billion theme park has only 16 attractions, only one of which is a classic Disney thrill ride (Space Mountain), compared to 52 at Disneyland Resort Paris. A recent study of Hong Kong Polytechnic University showed that 70% of the local residents had a veto opinion of Hong Kong Disneyland Resort. The Walt Disney Companys Opportunities The markets o f today are becoming more versatile to outsourcing and globalization and The Walt Disney Company is revealing this by (i) expanding outside of the United States and oblation theme parks in France, Japan and China. ii) Another expansion opportunity from U. S. soil was mentioned earlier regarding the Disney Cruise Line, a service well placed and suppuration in popularity. The Walt Disney Companys Threats 1. In Disneys case their theme parks must meet the safety regulations of the countries in which they operate in roll to stay in business and maintain their international status. 2. In the entertainment and theme park industry there are many competitors, such as Paramount Parks, Universal Studios and Six Flags Theme Parks.However, there are many other less visible competitors that one might not naturally pretend of when assessing the warlike market in which Disney deals. For example, there are hundreds of water parks and various funplexes that asshole also be considered as cheape r or more of import aspiration for Disney. Competition, in any form, can diminish Disneys market share in the entertainment industry. (c ) Guidelines for SWOT ANALYSIS for Walt Disney 1. Keep it simple 2. focus on on your organization. 3. Look for patterns. 4. Look for action that can be taken within a year. 5. Dont get lost in the future. 6.Be rooted in the now. Section 2 Organisational Culture (a) transcriptional Culture of the Walt Disney Company The Walt Disney Company has a culture based on high-quality products, optimism for the future, great storytelling, an emphasis on family entertainment and great talent, passion and dedication from the Cast Members. A good example of shared values is Walt and Roy together with their chief and loyal animator Ub Iwerks, Walt created Mortimer Mouse, which was renamed Mickey Mouse by his wife. The first cartoon with synchronized sound was released at the Colony Theater in New York, November 18, 1928.Walt Disney won its first Academy Award for Best Cartoon in 1932 and continued to be honored with an Oscar every year for a decade. Disney appeals to our childhood. They will always be favored by kids and will surely cover a preferred spot in the minds of adults. If only they live up to meet our expectations, to visualize our common fantasies. Disney could survive on the classics if it needed to. They get a new audience every day. But where has the imagination gone that prevents us adding some value. Today Disney is milking their theme park businessto the detriment of their brand.There is no argument that Disney is a pop culture icon in the U. S. However, the substance is not there. The rides, with a few exceptions, are dated and boring. It is not into reinvesting into their theme park business to custody it on top. (b) Create (Adhocracy) Culture The Walt Disney Company has a Create (Adhocracy) Culture. This culture has a dynamic, entrepreneurial, and creative place to work. Innovation and risk-taking are embraced by em ployees and leaders. A commitment to experimentation and thinking differently are what unify the organization.They strive to be on the leading edge. The long-term emphasis is on yield and acquiring new resources. Success means gaining unique and new products or services. Being an industry leader is important. Individual initiative and freedom are boost. The Walt Disney Company has all the characteristics of a Creative Culture. The mission of The Walt Disney Company is to be one of the worlds leading producers and providers of entertainment and information. They seek to develop the most creative, innovative and profitable entertainment experiences and related products in the world.The Walt Disney Company believes that it has to stay one step ahead of the competition to be the most innovative and creative animator. (c ) Organizational Culture and Organizational behavior of The Walt Disney Company. The Organizational Culture of The Walt Disney Company is a Create (Adhocracy) Culture. This culture invites and appreciates new, creative, innovative and exciting ideas. Walt and Roy believed that he had to stay one step ahead of the competition in order to be the most innovative and creative animator of all multiplication.They have a high standard of entertainment and have made people believe that animation and cartoons are not only for children but for adults as well. The implementation of these stimulating ideas with the advantage of latest technological devices and techniques and training their employees is the organisational behavior of the company. Disney has constructed its own University that employees must attend and complete before ever being allowed to work at a Disney Theme Park. Disney University believes The front line is the butt end line, and, Its 10 percent product and 90 percent service,. d ) Compete (Market) Culture Using a different culture like that of a Compete (Market) Culture in which job completion is main objective of the company and employ ees are competitive and goal-oriented, a different approach would be accomplished by the leaders who will be conveying, hard-driving, and productive. The emphasis on winning unifies the organization. Reputation and success are common concerns. Long-term focus is on competitive action and achievement of measurable goals and asss. Success means market share and penetration. Competitive pricing and market leadership are important.This typesetters case of organisational culture would demand a tough and strict environment where openness and creativity is limited or not required. It would have a do as said military posture with acute strictness and constrictiveness. All the ideas would be commanded by the producer and the animators would follow as instructed without being allowed to interrupt or magnify their imagination. This would be unsuitable environment for Walt Disney as Disney is all about magic, imagination and dreams. Section 3 Business Strategy (a) Four Types of Strategies Price Leadership through dominating the industry others follow your price lead Global seeking to expand global operations. Reengineering thinking outside the box facial expression at new ways of doing things to leverage the organisations performance. Contraction/Expansion focus on what you are good at (core competencies) or seek to expand into a range of markets. (b)The Walt Disney Strategy The Walt Disney Company has adopted the strategy of Expanding. Since its start in 1923, Walt and his brother worked out their trump to present and invent the best animations ever.The Walt Disney Company is in business to (i) produce socialize theatrical productions that are family oriented and family friendly (ii) to create products and toys that will promote their theatrical productions that are both entertaining and safe for children (iii) to entertain families who are looking for a fun, interactive and safe vacation spot both with resorts and parks, and also cruise lines (iv) continue ing their name reputable and substantial in a development business. Benefits 1. Disney Land is Europes Top Destination for vacation. 2. Extremely popular among children and adults. 3.It is a global leader in the industry of entertainment. Walt Disney Company was ranked eighth in the Top 100 Global Brands ranking of the BusinessWeek Magazine and Interbrand, a branding consultancy, in 2006. 4. Exposure and variety of entertainment packages to fans by opening Resorts, intromission Cruise Lines and Disney Lands in Tampa, Hong Kong and Paris, result, increased capital flow and no advertisement required. ( c ) Comparison Disney Company worked on the Strategy of Expansion but now they work on something more of a combination of Reengineering and Expansion after the launch of many quality competitors in market.The Disney Land especially in Hong Kong is not enjoyed by the fans as the entertainment essentials are limited as compared to the other destinations and are very dated. The Walt Disne y Company is now working to expand itself by computing out new ways of attraction and alluring to fans by opening Cruise Lines and Resorts and Fun Houses throughout their Disney Land. (d ) Factors to Consider to change Strategy 1. Quality is despotic than quantity. 2. Dated entertainment ideas and facilities should be updated to the demands of the new generation while keeping the classic touch polished. 3.Innovative marketing, strategic investment and financial discipline should be developed to keep pace in entertainment market. 4. The Walt Disney Company had to analysis its management and employees to determine where they stood as they were losing fans and had market value. 5. Competitors like Universal Studios, Paramount Pictures have worldwide successful theme parks and funplexes. To triumph over them Disney Land had to study its new fans and keep its signature. (e ) Business Strategy and Strategic Choice The type of Business the Walt Disney Company wanted to have depended upon the Business Strategy it approached.It did quite well in the beginning and won Oscar awards and achieved the most out of the market. The Brand was the most popular and demanded and nailed its name in the industry. But as time passed and new generation emerged, a new taste came into existence and therefore things had to be regenerate and improved. Earlier Disney was the only animation company but, as time passed and quality competitors surfaced, larger competition and criticizers appeared. The Walt Disney Company had opened remarkable entertainment property which encouraged fans to meet and enjoy their childhood favorite character.But the strategy they adopted was not enough for to attract the new artwork and 3D oriented generation. and then they had to opt for the Strategic Choice of the market and indulge in the dept of entertainment with time. They are still the leaders as they chose the right action at the right time. (f) The Key Issues The Walt Disney Company should keep in a ccount to manage its Business Strategy are Latest approach of entertainment. Should make Sci fi Movies with a more down-to-earth approach. Educational Films to be produced as well. Disney Land worldwide should be upgraded. Employee Satisfaction is a must and Management should take account of each department. Quality should be maintained. Competitors and Internal weaknesses are studied. Section 4 Change (a)Change of Strategy The Strategy of the Walt Disney Company had to change overtime due the increasing demand of hi-tech technology, graphics and updated modes of entertainment. The competitors rooted to attract people with the latest knowledge and entertainment techniques. Despite winning Oscars and being branded as the finest animator, Disney overlooked the need of freshness and contemporariness.No doubt, Disney was experimenting and innovating but, using the same old but famous characters. People wanted a new character and novel themes. There Parks were attracting new convocatio n but couldnt bring back the old ones. These factors intimidated Disney and it had to think over its strategy. (b)Social Responsibility The urge to make people happy is stated to be the Social Responsibility of the Walt Disney Company. The main objective and goal of Disney is to impart happiness, enchantment and amusement to people. They have been very successful so far but, as times changed and new generations emerged, they had to think over their product.Disney opened many resorts, hotels, cruise liners, but couldnt attract the old customers. It made them happy but couldnt keep them loyal. Getting to the root cause of this they realized that their amenities were dated and needed rejuvenation with tools of technology, graphics, new characters, new stories, new modes of entertainment in the theme parks, Disney TV channels, sports and news channels, in short, a new approach to the new generation. (c ) Role of Management To Changes As already mentioned there is a strategic change in t he company and some new operations are introduced.The Management already has a very good policy of providing necessary training to its employees. They can encourage inform their employees about the market situation. It can make the staff understand the importance and need of the new operations and changes and insist why it needs the best from their employees. It can provide customer service training and motivate them to produce the best out of their service and compete with the growing competition. (d ) Advice to The Walt Disney Company To analyze a change in situation the management should keep itself updated about the market situation.It should not just look into the expansion of the Business but also keep an eye on the changing market industry and new requirements of the fans. It should study the developments of its competitors. There would be resistance to the changing market but to overcome this resistance, it can hold meetings and make its staff and managers realize the subst ance and requirement of the changes by providing detailed and proper explanation. Better knowledge of the market and motivation to achieve the target can help overcome the resistance to change. Reference

Comparison between Frankenstein and “The Birthmark” Essay

The Industrial Revolution that was happening in the early even revert of the 19th centuries changed the world forever. The introduction of science as a possible cure for all became appargonnt. Many fascination inventions such as steamboat, cars and electricity were created and the expectation for the future was bright. However, because of this, many scientists turned a blind eye to the insecuritys of knowledge and unwittingly caused many sorrows in their process to become god. Such examples are introduced in the following two stories Frankenstein and The birthmark. In both stories, the author created a character that was to symbolize the scientists of the early 19th centuries who believed that anything was possible with science. In The nevus, Hawthornes character Aylmer tries to remove his wifes birthmark with his use of science but ends up killing her. While in Frankenstein, the protagonist superscript attempts to use science to create life but ends up destroying those there wer e closest to him.There are many similarities amid the two stories, especially between the characteristics of Victor Frankenstein and Aylmer. Both men have a deep passion and love for science that borders on obsession. One of the prevalent themes in both stories is the danger of playing god. In Frankenstein, Victor attempts to go beyond accepted human limits and access the knowledge of life and therefore becoming godlike. The story begins with Waltons earn to his sister. From the letter, we are introduced to the danger of science. Victor tells Walton, You seek for knowledge and wisdom, as I once did and I ardently hope that the gratification of your wishes may not be a serpent to sting you, as mine has been. (pg 31)The theme of destructive knowledge is then developed further throughout the story as the tragic events and consequences of Victors obsession for life is unfold. He cuts himself off from the world and eventually commits himself entirely to his task, while I pursued my und ertaking with unremitting ardour, my gall has grown pale with study and my person has become emaciated with confinement. (pg 55) This is similar to what Aylmer went through, He was pale as death, anxious and absorbed, and hung oer the furnace as if it depended upon his utmost circumspection or misery. (pg 70) He was so obsessed about perfection that he forsakes the consequences of his action.Throughout Frankenstein, Victor repeatedly convinced himself that what he is doing is absolutely right and because of this, his fall from grace mirrors those of Aylmer. Both of them have unrealistic goals to achieve and both unintentionally destroy those that are precious to them.For all their similarities, Dr. Frankenstein and Aylmer are still significantly diametric characters. Victor wants to be god but does not know what to do with the power, When I found so astonishing a power placed inside my hands, I hesitated a long time concerning the manner in which I should employ it. (pg 54) Victo r views science as the path to new knowledge in other studies you go as far as others have gone before you but in scientific pursuit, there is continual food for baring and wonder.(pg 52)While Aylmer views science as the path to greater power, We know Aylmer possessed this degree of faith in mans ultimate control over nature.(pg 59) He tries to play god in order to bend the laws of nature and make imperfection to perfection, I feel myself fully competent to render this love cheek as faultless and then, most beloved, what will be my triumph when I shall have corrected what Nature left imperfect in her fairest report (pg 63) In the end however, it was nature that got the last laugh when the potion that Aylmer gave Georgiana resulted in her death.Both Frankenstein and Aylmer are victims of the destructive fascination for science and nature. Both men try to go past to godhood and, ultimately, both fail. Perhaps, that is why both Shelley and Hawthorne wrote similar stories in an attem pt to illustrate the danger of ambition, science and godhood.

Factors That Influence Job Design Essay

Factors that influence job design, hiring, training and performance appraisals that supervisors must take into account. Staff members argon required to perform a clear set of job activities that are designed to accomplish organizational objectives (Lewis, Packard, & Lewis, 2007). There are two considerations that should be taken into account when designing special(prenominal) staff roles. The first consideration is that the job allow need to be designed to meet accomplishment of program objectives, satisfaction of key holder expectations and the clients. The morsel consideration is that the job should bring forth incorporated elements that provide a working environment for employees that is high quality. If employees have a quality work environment, they will find their jobs stimulating, meaningful and will be more committed to organizational goals (Lewis, Packard, & Lewis, 2007).Read moreDescribe factors which may influence childrens development essayOther factors that may infl uence job design are the need for basic level of knowledge and skills, pay and working conditions. Factors that influence hiring are qualifications, teaching and specific prior(prenominal) experience. Screening grids and checklists are partd to organize key information about bunsdidates. The grid provides information about the candidates that relate to qualifications, educations, and prior experience. A check list is also used to provide details that will reflect the ratings for meeting, not meeting, or exceeding expectations. After the screening has been completed, only the outgo candidates will be considered for further processing. There will also be a need for a certain degree of match between the goals of the applicant and the mission of the organization (Lewis, Packard, & Lewis, 2007).Careful consideration is given to the use of resources and participant motivation, and so training programs will be based on the assessment of certain needs. Certain factors influence job tr aining and these factors are management support, legitimate training needs, Learning objectives, experienced trainer, learner ability and motivation, readiness and emotional support. The or so influential factor is management support. Management should provide an environment that is conducive to learning, and encourage professional development. Legitimate training needs will need to be considered, and through a training needs analysis, a deficiency in employee performance can be determined (McDonough, 2011). Learning objectives that are set prior to the start of training are considered an important key factor.Effective trainers will ensure that the expectationsas well as the needs of the employee are met. Employees must have a readiness, ability and the motivation to learn. Employees that perceive learning as a benefit will be motivated, ready and willing to learn. Immediate benefits of new skills wise(p) will increase employee emotional investment. Emotional investment helps empl oyees to retain and to relate to the new information they have learned (McDonough, 2011). Performance appraisals can be influenced by certain factors, and it is important that supervisors give these factors careful consideration. These factors are documented process, evaluation of results and follow-up and performance improvement. Performance appraisals are an important process for supervisors and management, and are used to identify areas of strength and areas that need improvement. Documented process will ensure that the performance appraisal will be effective.Supervisors should be reminded that this process exists, how it works, and where to annoy assistance if it is needed. Periodic training of performance appraisals may be needed. Evaluation results will provide general information about the performance level of the employees (Chron, n.d.) Supervisors and employees should use this performance appraisal as a tool that will help increase performance. Members of Team A discussed personal challenges of supervisor or as a supervised employee. Reading through the personal challenges, I found that we all encountered familiar challenges. Some of these challenges related to the different personalities within the work place and how it can affect a team. Jealousy became a factor as a supervisor, and employees became disrespectful and resentful. Receiving a promotion over other employees that believed they deserved it, were soon scrutinized by other coworkers. Stress relating to longer hours and increased responsibilities is another familiar challenge we all shared. Motivating employees was a challenge that was shared as a supervisor, and the realization of how important motivation is to the team.

Family Identity Essay

A persons identity is often considered a singularity that someone is born with, similar to physical traits such as eye color or face shape. In actuality, identity is not something that can be determined by a particular strand of DNA, instead it is something that must be formed throughout a sprightlinesstime. Thus, at birth, ones identity is a blank canvas, ready to absorb knowledge from its straightaway surroundings, more particularly family, as it is the first thing a fresh identity is exposed to. As evidenced by Grapes of Wrath, Abraham Lincoln, and The Great Gatsby, ones identity is primarily determined by his or her family.In Grapes of Wrath, the Joads identify themselves with their land, as farming is their only livelihood. Without land to farm, the Joadss way of life is entirely uprooted thus, they are strained to change their identities in order to survive. However, this identification with the land is not something each Joad is born with rather, it is a relationship that i s primarily influenced by family. Initially, Ruthie and Winifield, both still young children, do not understand the emotional impact of the Dustbowl on their family.However, as they watch their father, they begin to understand that his land is what makes him who he is, and without it, he is lost. At this point, Ruthie and Winifields new identities are starting to take shape as they, too, learn to love the land. Abraham Lincoln, a former president of the joined States, grew up in a small cabin to a pitiable family. He was able to attend school as a young son however, the educational system of his rural town in Kentucky put him at a disadvantage to many other politicians he competed against.When Lincolns find passed, he was left to be raised by only his father, whom he gradually became estranged from. However, these disadvantages that Lincoln faced made him the self-motivated and ambitious man he soon became. Had he been raised in a well-to-do family by attentive and loving parents, he would not have been nearly as compulsive and hardworking, as e very(prenominal)thing would have been spoon-fed to him. Thus, Lincolns family life was the one thing ultimately determined the man he was to become.Lincolns absentee father and poor economic situation gave him the will and ambition that allowed him o do great things in the world. In The Great Gatsby, in contrast to Abraham Lincoln, Daisy was born into an extremely smashed family. In such a family, Daisy hardly ever had the need to lift a finger, as everything was done for her. In addition, this wealth made Daisy a very desirable young woman thus, Daisy did not often have to work to gain anyones approval. Had she been raised in poor family, similar to Abraham Lincoln, Daisy would have been forced to sink or swim on her own, giving her more ambition to succeed.However, due to Daisys family life, she grew accustomed to a pampered life lifestyle in which everything was evidently handed to her, making her the self-obse ssed, materialistic, and lazy person she became. As evidenced by Grapes of Wrath, Abraham Lincoln, and The Great Gatsby, family is what primarily determines someones identity. Thus, identity is not some gene-determined trait that is formed prior to birth. It is something that takes shape in the early stages of ones life, forming accordingly to his or her environment.

Lasting Love by Guy de Maupassant Essay

A man can f only in love yet once in his entire life because the other emotions ar vindicatory product of forced attraction.-Albert EinsteinThe short story entitled Lasting Love by Guy De Maupassant is a reflection of unreciprocated love. It also argued if the strong passion among people called love can only happen once in a lifetime. The first idea was about the chief(prenominal) character a poor Madam chair-mender who has grown to love somebody for fifty-five years, and nobody else. She was deeply enamoured by this man who has never reciprocated her love in spite of all the sacrifices she has made, and despite the length of time she has been waiting for him. In the story I was also questioned do women love more than men love women? in that location is no denying the fact, only women know how to love.The story also emanates a form of feminism. The whole story line of battles how soft-hearted most women are especially when they are enchanted by love. The story seemed to say t hat women are more vulnerable to being foolishly captivated when it comes to love. When females love, they give their everything. Once they fall, it would be very hard for them to get up. engaging here is defined as sharing with an open hand, giving until it hurts. Women, being emotional creatures are more likely to be swooned over by the feelings and are more likely to expose themselves to being hurt.The whole point of the story for me was that love should never be confused with just mere passion. Passion necessitate ignition. It needs sustenance from another force. But real love is best defined when you do things unconditionally, despite the pain, the many hurts just for one second of happiness. It makes you stand out all things. It can make you do the foolishthings, just because you care for the other person. It never expects anything in return but it only wants to give and show itself. In some way, the love in the story has a touch of platonic love, like a form of chaste love .Love was argued to happen only once, and once it comes it endures until the end. It is real love if it endures, like a real jewel that continues to shine despite time and circumstances. I also think that in love, all is fair. I do not think there is any superior sex when it comes to love or there is somebody who loves more, I think they just love differently. It would be very hard to quantify an emotion very special to human beings-which is love.

Island of the Sequined Love Nun Chapter 32~33

32The Missionary PositionThe guards came for flummox at sunset, just as he was slipping into the cotton pants and shirt the doctor had leftover for him. The doctors clothes were at least three sizes too big for him, simply with the bandages he had to intrust them over, that was a blessing. He still had his own sneakers, which he put on his bare feet. He asked the guards to wait and they stood just inside his door, as straight and unfathomed as terra-cotta soldiers.So, you guys speak English?The guards didnt answer. They watched him.Japanese, huh? Ive never been to Japan. I hear a Big Mac goes for twelve bucks.He waited for some response and got none. The Japanese stood im courseive, silent, minuscule beads of sweat shining through their crew cuts. juicy, guys, Id love to hang around with you chatterboxes, but Im due for dinner with the doc and his wife.Tuck limped to the guards and offe trigger-happy each an strengthen in escort. Shall we go?The guards charmed and led him ac ross the compound to one of the bungalows on the beach. The guards stopped at the steps of the lanai and Tuck dug into his pants pockets. Sorry guys, no cash. Have the concierge put a couple of yen on my bill.The doctor came through the french doors in a gabardine ice lick suit, carrying a tall iced drink garnished with mango. Mr. Case, youre looking much better. How are you feeling?Nothing wrong with me one of those wont cure.Sebastian Curtis frowned. Im afraid not. You shouldnt drink alcohol with the antibiotics I deliver you on.Tucker felt his guts twist. Just one wont hurt, allow for it?Im afraid so. save Ill make you one with reveal alcohol. Come in. Beth is making a wonderful grouper in ginger sauce.Tucker went though the french doors to find a bungalow decorated much wish well his own, only larger. T here was an open kitchen nook where Beth Curtis was displace something with a wooden spoon. She looked up and smiled. Mr. Case, just in time. I need someone to taste this sauce. She was wearing a cream-colo cerise Joan Crawford number with middle line-backer shoulder pads and buff-colored elevated heels. The dress was straight out of the forties, but Tuck had been around Mary Jean necessitate enough to know that Mrs. Curtis had dropped at least five c bucks on the shoes. Evidently, missionary work paid pretty well.She held a hand below Tucks chin as she presented the spoon. The sauce was sweet citrus with a piquant bite to it. Its good, he said. Really good.No fibbing, Mr. Case. Youre red ink to receive to eat it.No, I like it.Well, good. Dinner will be ready in virtually a half(a) hour. Now, why dont you men take your drinks out on the lanai and permit a girl do her magic.Sebastian handed Tuck an icy internal-combustion engine filled with an orange liquid and garnished with mango. Shall we? he said, leading Tuck back outside.They stood at the railing, looking out at the moon reflecting in the ocean.Would you be to a greater extent comfor table sitting, Mr. Case? the doctor asked.No, Im fine. And please call me Tuck. Anyone calls me Mr. Case more than three times, I start dealing Im deviation to sound audited.The doctor laughed, We basint have that. Not with the kind of money youre going to be making. But legally, you know, its tax-free until you take it back into the United States.Tuck stared out at the ocean for a moment, wondering whether it was time to give this gift horse a dental exam. There was just too damn much money showing on this island.The equipment, the plane, Beth Curtiss clothes. After Jake rifflees lecture, Tuck had imagined that he might encounter some sweatydrug-smuggling doctor with a Walther in his belt and a coke whore wife, but these twain could have just flown in from an upscale church social. Still, he knew they were lying to him. They had referred to the Japanese as their staff, but hed seen one of them carrying an Uzi out behind the hangar. He was going to ask, he really was, but as he turned to face the doctor, he heard a soft bark at the subvert of the lanai and looked up to see a large fruit bat hanging from the edge of the tin roof. Roberto.The doctor said, Tucker, most the boozing.Tuck pulled his gaze away from the bat. The doctor had seen him. What drinking?You know that we saw the reports on your how should I put it?Crash.Yes, on your crash. Im afraid, as I told you, we cant have you drinking temporary hookup youre working here. We may need you to vaporize on very short notice and we cant risk that you might not be ready.That was an isolated incident, Tuck lied. I really dont drink much.Just a momentary lapse of judgment, I understand. And it may seem a bit draconian, but as long as you dont drink or go out of the compound, everything will be fine.Sure, no problem. Tuck was watching the bat over the doctors shoulder. Roberto had unfurled his wings and was turning in the sea breeze like an inverted withstand vane. Tuck tried to wave him off behind the doctors back.I know this may all seem very limiting, but Ive worked with the Shark People for a long time, and theyre very sensitive to contact with outsiders.The Shark People? You said youd explain that.They hunt sharks. Most of the natives in Micronesia wont eat shark. In fact, its taboo. But the reef fish here often have a high concentration of neurotoxin, so the natives developed shark as a food source. You would think that the sharks, being higher on the food chain, would have a higher concentration of the toxin, wouldnt you?Youd think, Tuck said, having no idea whatsoever what the doctor was talking about.They dont, though. Its as if something in their system neutralizes the toxin. Ive done a poor research in my s equatinge time.Ive seen a lot of shark shows on the Discovery Channel. They go on and on about how harmless sharks are. Its bullshit. Half of these stitches you put in me are because of a shark attack. peradventure they dont have cable, the doctor said.Tuck turn ed to him, amazed. A joke, Doc?The doctor looked a footling embarrassed. Im going to go see how dinner is coming along. Ill be right back. He turned and went into the house.Tucker bolted to the end of the lanai where Roberto was hanging. Shoo. Go away.Roberto made a trilling noise and tried to catch Tucks drink with his wing claw.Okay, you can have the mango, but then you have to get out of here. Tucker held out the piece of cut mango and the fruit bat took it in his wing claw and slurped it dash off.Now get out of here, Tucker said. Go find Kimi. Shoo, shoo.Roberto tilted his head and said, Back off on these people, Tuck. You push them too dense, theyll pull your plug. Just keep your eyes open.Tuck locomote away from the bat with stiff jerking steps out of the line dance of the undead. The bat had said something. It was a tiny region, high but raspy, the voice of a chain-smoking Topo Gigio, but it was clear. You didnt talk, Tucker said.Okay, said Roberto. Thanks for the mango. Roberto took off, the beat of his wings like the shuffle of a deck of leather cards. Tuck backed though the french doors into a wicker emperors chair and sat down.Come sit, Beth Curtis said as she carried a tray to the table. Dinners ready.What kind of drugs have you been giving me, Doc?Broad-spectrum antibiotics and some Tylenol. wherefore?Any chance they could cause hallucinations?Not unless you were allergic, and wed know that by now. Why?Just wondering.Beth Curtis came to him and patted his shoulder. Her nails, he noticed, were perfect. You had a fever when they brought you in. Sometimes that can give a person bad dreams. I think youll feel a lot better after a good meal.She helped him up and led him to the table, which was set with a white tablecloth and black linen napkins around a centerpiece oforchid sprigs arranged in a crystal bowl. A whole grouper stared up betwixt fanned slices of plantain on a serving tray, his eye a little dry but clear and accusing.Tuck said, If tha t thing starts talking, I extremity to be sedated and right now.Oh, Mr. Case. Beth Curtis rolled her eyes and laughed as they sat down to dinner.Tuck could almost feel his body absorbing the nourishment. He told them the business relationship of his tour to the island, exaggerating the danger aspect and glossing over his injuries, Kimi, and his craving for alcohol. He didnt mention Roberto at all. By the time Tucker was in the typhoon, the Curtises were well into their second bottle of white wine. Beths cheeks were flushed and her eyes sparkled with enthusiasm for Tucks every word.Tuck really intended to ask about Kimi, their cryptic messages, the guards, the rules for his employment, and of course, where the hell all the money came from, but kind of he found himself p arrangeing to Beth Curtis like a comedian on a roll and he left the bungalow at midnight quite interpreted with both himself and the doctors wife.The Curtises stood arm in arm at the door as the guards escorted T ucker back to his quarters. Halfway across the compound, he did a giddy turn and waved to them, feeling as if he had been the one to consume two bottles of wine.What do you think? the hotshot asked his wife.Not a problem, she said, keeping a parade smile pointed Tucks way.I really expected him to be a little more resistant to our conditions.As if hes in a position to bargain. The man has nothing, is nothing. He shatters this little illusion weve given him and he has to face himself.He looks at you like youre some sort of beatific vestal virgin. I dont like it.I can handle that. You just get flyboy ready to do his job.Hell be able to fly within a week. He brought up his navigator again while we were outside.If hes here, youd better find him.Ill speak to Malink tonight. The Micro Spirit is due in sidereal day after tomor-row. If we find the navigator, we can pass around him back on the ship.Depending on what hes seen, she said.Yes, depending on what he knows.Tucker Case entered his bungalow feeling satisfied and full of himself. Someone had turned on the lights in his absence and turned down the bed. What, no mint on the pillow?He changed into a pair of the doctors pajama bottoms and grabbed a paperback spy novel from a stack someone had left on the coffee table.They had a TV. There had been a TV in the Curtises bungalow. Hed have to ask them to get him one. No, dammit, demand a television. What did Mary Jean endlessly say? You can sell all day, but if you dont ask for the money, you havent made a sale. Good food, good money, and a great aircraft to fly hed stumbled into the best fizgig on the planet. I am the Phoenix, rising from the ashes. I am the comeback kid. I am the entire 1980 gold-medal-winning U.S. Olympic hockey team. I am the turnkey walrus, coo-coo ka-choo.He went into the bathroom to brush his teeth, caught his reflection in the mirror. His mood went terminal. I am never going to get laid again as long as I live. I should have pressed them a bout Kimi. I didnt even ask about what in the hell kind of cargo Im going to be flying. I am a spineless worm. Im scum. Im the Hindenburg, Im Michael Milken, Richard Nixon. Im seeing ghosts and bats that talk and Im stuck on an island where the only woman makes Mother Theresa look like a lap dancer in a leper colony. I am the man who put the F in failure, the P in pathetic, the G in gullible. I am the ringworm poster boy of Gangrene City. Im an insane, unemployed bus driver for the death camp cartel.Tuck went to bed without brushing his teeth.33Chasing the seize onNatives slept side by side, crisscrossed, and piled on the deck of the Micro Spirit until with a thu showing here, or a lavalava there, streams of primary color among all that gelatinous chocolate-brown flesh it looked as if someone had dropped a big box of candy in the hot sun and they had melted together and spilled their fillings. Amid the mess, Jefferson Pardee, rolled and pitched with the ship, purpose three pau seing children lying on him when the ship go to starboard, a rotund island grandmother washing against him when the ship listed to port. Hed been stepped on three times by ashy callused feet, once on the groin, and he was relatively sure he could feel lice crawling in his scalp.Unable to sleep, he stood up and the mass moved amoebalike into the vacated deck space. A three-quarter moon shone high and bright, and Pardee could see well enough to make his way through to the railing, only stepping on one woman and evoking colorful island curses from two men. Once at the rail, the warm wind washed away the cloying smell of sweat and the rancid nut smell of copra coming from the holds. The moons re-flection lay in the black sea like a tossing pool of mercury. A pod of dolphins rode the ships bow wave like gray ghosts.He took several hidden breaths, relieved himself over the side, then dug a bent cigarette out of his shirt pocket. He lit it with a disposable lighter and exhaled a contrai l of smoke with a long sigh. Thirty years in the tropics had given him a high tolerance for discomfort and inconvenience, but the moderate in routine was maddening. Back on Truck, hed be toweling off the smell of stale beer and the residue of an oily tumble with a dollar whore, preparing to pass out with avolume of Mencken under his little air conditioner. No thought of the day to come or the one just passed, for one was like the next and they were all the same. Just cool cloudy sleep that made him feel, if only for a minute, like that young Midwestern boy on an adventure, wash up from passion and fear, rather than a fat old man worn down by ennui.And here, in the salt and the moonlight, on the trail of a story or possibly just a rumor, he felt the fungus growing in his lungs, the pain in his lower back, the weight of ten thousand beers and half a million cigarettes and thirty years of fish fried in coconut oil pressing on his heart, and none of it none of it was so overweight as the possibility of dashed hopes. Why had he opened himself up to a future and failure, when he had been failing just fine already?You cant sleep? the companion said.Pardee hadnt heard the wiry sailor move to the rail. He was drinking a Bud tallboy, against regulations, and Pardee felt a craving twist like a worm in his chest at the sight of the can.You got other one of those?The mate reached into the deep front pocket of his shorts, pulled out another(prenominal) beer, and handed it to Pardee. It was warm, but Pardee popped the top and drank off half of it in one gulp.How long before we make Alualu? Pardee asked.Three, maybe four hour. Sunrise. We drop you on north side of island, you swimming in.What? Pardee looked down to the black waves, then back at the mate.The doctor no let anyone go on the island except to bring cargo. You have to swim in on other side of island. peradventure half mile, maybe less.How will I get back to the ship?Captain say he will swing back around th e island when we leave. Captain say he wait half an hour. You swim back out. We pick you up.Cant you send a boat?No boat. No break in reef except on south side where we unload. We have many fuel barrel and crates. You will have seven, maybe eight hour.Pardee had seen the Spirit arrive in Truk lagoon a thousand times the ship was always surrounded by outboards and canoes filled with wound up natives. Maybe I can get one of the Shark People to ferry me. He did not want to get in that water, and he certainlydidnt want to swim half a mile to shore, wasnt sure he could.Shark People no have boat. They no leave island.No boats? Pardee was amazed. Living in these islands without a boat was akin to living in Los Angeles without a car. It wasnt done it couldnt be done.The mate patted Pardees big shoulder. You be fine. I have mask and fins for you.What about sharks?Sharks afraid around there. On most island people afraid of shark. On Alualu shark afraid of people.Youre sure about that?No.Oh, good. Do you have another beer?Three hours later the rising sun lay like a silver tray on the horizon and Jefferson Pardee was having swim fins duct-taped to his feet by the first mate. The deck bustled with excited natives eating rice balls and taro paste, smoking cigarettes, shitting over the railings, and milling around the ships store, trying to buy Cokes and Planters cheese balls, Australian corned beef, and, of course, Spam. A meek crowd had gathered around to watch the white man prepare for his swim. Pardee stood in his boxer shorts, maggot white except for his forearms and face, which looked like theyd been dipped in red barn paint. The mate stuffed Pardees clothes and notebook into a garbage bag and handed it to him, then slathered the journalist with waterproof sunscreen, a task on par with basting a hippo. Pardee snarled at a group of giggling children and they ran off down the deck screaming.Pardee heard the ships big screws grind to a halt and the mate unhooked a chain gate set in the railing. Jump, he said.Pardee looked at the crystal water forty feet below. Youre out of your fucking mind. Dont you have a operate?You cant climb ladder with fins.Ill take the fins off until I get in the water.No. Straps broken. You have to jump.Pardee shake his head and the flesh on his shoulders and back followed suit. Its not gonna happen.Suddenly the children Pardee had frightened came running around the bridge like a squealing pack of piglets. Two little boys broke formation and ran toward the journalist, who looked around just as he felt four tiny brown hands impact with his back.Pardee saw sky, then water, then sky, then the island of Alualu laying on the sea like a bad green toupee, then the impact with the water took his breath, ripped the mask from his face, and forced streams of brine into his sinuses strong enough to bring blood.Before he could even find the surface, he heard the ships screws begin to grind as the Micro Spirit steamed away.Two excited boys shook Malink awake. The ship is here and the mavin is coming The old chief sat up on his grass sleeping mat and wiped the sleep from his eyes. He slept on the porch of his house, part of the gemstone foundation that had been there for eight hundred years. He stood on creaking morning legs and went to the bunch of red bananas that hung from the porch roof. He tore off two bananas and gave them to the boys.Where did you see the Sorcerer?He comes across Vincents airstrip.Good boys. You go eat breakfast now.Malink went to a stand of ferns behind his house, pulled aside his thu, and waited to relieve himself. This took longer every day it seemed. The Sorcerer had told Malink that he had angered the prostate monster and the only way to appease him was to quit drinking coffee and tuba and to eat the bitter subject of the saw palmetto. Malink had tried these things for almost two full days before giving up, but it was too hard to wake up without coffee, too hard to go to sleep witho ut tuba, saw palmetto made his stomach hurt, and he seemed to have a headache all the time. The prostate monster would just have to die hard angry. Sometimes the Sorcerer was wrong.He finished and straightened his thu, passed a thundering cannonade of gas, then went back to the sitting spot on the porch to get his cigarettes. The women had made a fire to boil water for coffee the smoke from the burning coconut husks wafted out of the corrugated tin cookhouse and hung like blue fog under the canopy of breadfruit, mahogany, and palm trees.Malink lit a cigarette and looked up to see the Sorcerer coming down the coral path, his white lab coat unforgiving against the browns and greens of the village.Saswitch (good morning), Malink said. The Sorcerer spoke their lan-guage.Saswitch, Malink, the Sorcerer said. At the sound of his voice Malinks wife and daughters ran out of the cookhouse and disappeareddown the paths of the village.Coffee? Malink asked in English.No, Malink, there is no ti me today.Malink frowned. It was rude for anyone to turn down an offer of food or drink, even the Sorcerer. We have little Tang. You want Tang? Spacemen drink it.The Sorcerer shook his head. Malink, there was another man here with the pilot you found. I need to find him.Malink looked at the ground. I no see any other man. The Sorcerer didnt seem angry, but just the same, Malink didnt like lying to him. He didnt want to anger Vincent.I wont punish anyone if something happened to him, if he was hurt or drowned, but I need to know where he is. Vincent has asked me to find him, Malink.Malink could feel the Sorcerer staring a hole in the top of his head. Maybe I see another man. I will ask at the mens house today. What he look like?You know what he looks like. I need to find him now. The Sky Priestess will give back the coffee and sugar if we can find him today.Malink stood. Come, we find him. He led the Sorcerer through the village, which appeared deserted except for a few chickens and d ogs, but Malink could see eyes peeking out from the approachs. How would he ex-plain this when they asked why the Sorcerer had come? They passed out of the village, went past the abandoned church, the graveyard, where great slabs of coral excite kept the bodies from floating up through the soil during the rainy season, and down the overgrown path to Sarapuls little house.The old cannibal was sitting in his doorway sharpening his machete.Malink turned to the Sorcerer and whispered, He rude sometime. He very old. Dont be mad.The Sorcerer nodded.Saswitch, Sarapul. The Sorcerer has come to see you.Sarapul looked up and glared at them. He had red chicken feathers stuck in his hair, two severed chicken feet hung from a cord above his head. All the sorcerers are dead, Sarapul said. He is just a white doctor.Malink looked at the Sorcerer apologetically, then turned back to Sarapul. He wants to see the man you found with the pilot.Sarapul ran his thumb over the edge of his machete. I dont know what happened to him. Maybe he went swimming and a shark got him. Maybe someone eat him.Sebastian Curtis stepped forward. He wont be hurt, he said. We are going to send him out on the ship.I want to go to the ship, Sarapul said. I want to buy things. Why cant we go to the ship?Thats not the issue here, old man. Vincent wants this man found. If hes dead, I need to know.Vincent is dead.The Sorcerer crouched down until he was eye-to-eye with the old cannibal. Youve seen the guards at the compound, Sarapul. If the man isnt at the gate in an hour, Im going to have the guards tear the island apart until they find him.Sarapul grinned. The Japanese? Good. You send them here. He swung his machete in front of the sorcerers face. I have a present for them.Curtis stood. An hour. He turned and walked away.Malink ambled along behind him. Maybe he is right. Maybe the man drown or something.Find him, Malink. I meant it about the guards. I want this man in an hour.He is gone, Sarapul said. You can come out.Kimi dropped out of the rafters of Sarapuls little house. What is he talking about guards?Ha Sarapul said. He knows nothing. He didnt even know I had this. Sarapul reached down and pulled out a headless chicken he had been sitting on. He is no sorcerer.He said there were guards. Kimi said.Sarapul laid his chicken on the ground. If you are afraid, you should go.I have to find Roberto.Then let them send the guards, Sarapul said, brandishing his machete. They can die just like this chicken.Kimi stepped back from the old cannibal, who was on the verge of foaming at the mouth. We friends, right?Build a fire, Sarapul said. I want to eat my chicken.

Investing in Futures and Options Essay

INTRODUCTIONOf late, investors who argon in the burgeon forth and trade good argon focusing their attention to cont finaleds military issue a chance prudence e special(a)ly due to spunky school excit suitableness nature.Since these excitability bowel movements argon uncertain, it has be vex fore closely cause of vagueness for such investors. Since the globalization of swap and free trade amid major countries has be f atomic number 18 the order of the day, any most all the investors halt to be below mercy of the substitute assess fluctuations which aftermaths in unpredictability .The nonion that commutation rank , meshingability and former(a) factors influence a firms quantify and therefore the hurt of its well-worn is widely held by fiscal analyst ,economists and corpo come in managers .The liberalization of economic policies and investing policies due to world trade constitutions (WTO) free flow of investments and trade among member countries and bilatera l free trade agreements between countries cause augmented internationalization of economic activity and exceptional era of world wide capital and pertain appreciates instability. To replication these monetary riskinesss, impertinently pi whizzering concept commodity and stock foodstuffplace hedgerow techniques submit nurtured at a rapid speed. The main feature of the using contraryials finished hedging is to have accountant oer the financial risk and minimizing the effect of uncertain cash flows.Financial institutions have come to rescue to these corporations who have exposure to financial risk with the be given of products to assist in risk management. By far the most signifi quite a littlet answer in finance during the past decade has been the extraordinary ontogeny and expansion of financial deriveds. These instruments enhance the ability to differentiate risk and allocate it to the investors most able and free to take it a a tho that has undoubtedly impro ved national productivity growth and standards of living . Allen unfledged Span, Chairman, Board of Governors of the US Federal Reserve System.The structural advantage of derivatives i.e. leverage or gearing becomes them capable for managing risk move also result in the generation of leveraged scratch or in the event of adverse commercialise movement , a significant losses. The main advantage of gearing is that the procureer or seller need only to cough up a shrimpy proportion of total worth at the time of deal is executed.It may be 1% and 8% depending upon the volatility of the chthonianlying commodity or instrument. In the case of ex channelize traded transactions, this deposit is recognized as initial margin and is evaluate to reflect the amount by which the hurt of a contract may vary in unity days trading. At the day end, all contracts pull up stakes be valued and if the harm has been represent to move against the position, the losing party will have to pay fur ther variation margin calls. In contrary, if the legal injury movement is positive, credit will be given to the party .It is this element of gearing that provides the opportunity to make super gains or losses.Prudent handling of this leverage will result in considerable profit maximization and if it accostd inexpertly, may gene roam losses .In some cases , these losses though high but they are few in number when measured against volume of clientele and number of participants in derivative business .The contributory factors for sustaining loss includes excessive position taking ( in relation to capital) , fraudulent activity , surprising foodstuff moves, ineffective risk management, insufficient product understanding and inadequacies in corpo regulate policy governing body their use. What is a derivative?Derivative is a mathematical word which refers to a variable, which has been derived from some other variable and they have no values of their own. Derivatives derive their value from the value of some other addition, which is referred as the underlying.For instance, a derivative of the shares of AT & T Corporation (underlying), will derive its value from the share price (value) of AT & T Corporation. Likewise, a derivative contract on wheat depends upon the price of wheat.An agreement or an pick to profane or sell the underlying summation of the derivative up to a certain time in the afterlife at a prede termined price i.e. the exercise price by way of special contract is k in a flashn as derivative contract.The contract also has a flat expiry limit mostly in the range of 3 to 12 schedule months from the date of origination of the contract. The price of the underlying asset and the expiry period of the contract determine the value of the contract.Financial derivatives comprises of underlying financial asset handle property, debt instruments, equity shares, share price power etc. interchange-traded derivatives are derivative contracts that ha s been standardized and traded on the stock exchanges. Over-the counter derivatives is wizard which has been customized as per the requirements of the user by negotiating with the other party bear on.Some of the common forms of derivatives are Futures, forward and Options. FuturesFutures are the derivative contracts that give the holder the chance to buy or sell the underlying asset at a pre-specified price some time in the near future and usually thy come with standardized form standardised contract size, determined expiry time and price.The future market is one where continues auction market and exchanges presenting the recent information or so the show and demand as regards to individual commodities or financial instruments like stocks . In other words, future market is one where buyers and sellers of variety of commodities, financial instruments shorten together to trade. The main aim of the future market is to manage price risk.The future price risk is averted by buying or exchange futures contract, with a price level arrived at now, for items to be exhibited in future. This is achieved by hedging which helps to shield against the risk of an adverse price change in the near future or use of futures to lock in an acceptable margin between their purchase and their selling price.In futures, vernacularers, farmers, traders, manufacturers will arrange for the purchase or sale of a futures contract. In future market, commodities are befuddled down into five categories namely agriculture, metallurgical, beguile bearingassets, jndexes and foreign currency.Agricultural futures market includes oats, corn , wheat , soy saucebeans , soy meal ,soyoil,sunflower oil ,cattles , live hogs and pork bellies, lumber , plywood ,cotton, coffee, cocoa, rice, orange juice and sugar. For every one of these commodities, different contract months are available and it depends upon the harvest cycle. More aggressively traded commodities usually have to a greater extent contract months available and a new type of contract is available almost every month to meet the growing institutional and corporate market.Futures on Metallurgical ProductsPetroleum products and metals is being taged under this group and it includes platinum, gold, silver, palladium, copper, gasoline, crude oil, propane and heating oil. Every month a new type of contract emerges to run the needs of ever increasing institutional and corporate market.Assets which bears elicit This has its origin during 1975 and products in these categories include treasury bonds, Treasury Bills, Municipal Bonds, Treasury Notes and Eurodollar deposits. It is also possible to trade contracts with the same maturity but different expected interest rate differentials.Futures on IndexesNow futures are available on most chief abilityes such as New York Stock exchange Composite, S&P 500, New York Stock Exchange Utility index, Russell 2000, Commodity Research Bureau (CRB), S&P 400 Midcap, FT-Se ascor bic acid Index (London) and order line. These stock index features are settled in cash and there is no delivery of goods is involved in this method. A trader has to settle his positions by buying or selling an offsetting position or in cash at expiration.Foreign money FuturesDuring the post war period, the exchange rates and interest rates were stable and the mechanism of fixed exchange rates of the Bretton Woods era enabled the corporations to know in advance their foreign exchange liabilities for their imports.But the collapse of Bretton Woodss system after the war resulted in the creative activity of general floating exchange rates replacing the earlier fixed system. The introduction of floating exchange rates have resulted in large unexpected movements in exchange rates that too in unforeseen directions and magnitudes which affected interest rate movements as the monetary establishment seek to influence the exchange rates by movements in interest rates. It is to be noted tha t the forward market in currencies is much bigger than the foreign exchange futures market. Further, there are cross currency futures that are being traded and these includes Deutsch mark / yen, Deutsch mark / French franc. Forwards & OptionsForward is another form of a derivative contract but tailored to the needs of the user in terms of expiry date, contract size, and price.These contracts chatter the holder the option to buy or sell the under lying at a pre-determined price some time in the future .Call option is one where the buyer has given his option to buy the underlying at the near future .Where as an option to sell the underlying at a specified price in the future is called as Put Option. As regards to the option contract, the buyer is not obliged to exercise the option contract. Generally, options can be traded on the stock exchange or on the OTC.In option, the participants may assume a position in an underlying futures contract at a certain price which is cognise as exe rcise or strike price within a particular period of time. The price or premium of the option is determined through action market trading. SwapsSwaps contract was introduced in 1981 and can be considered as one of the latest financial innovations to manage financial risks. The contracting parties are obliged to exchange specified cash flows at specified intervals under a swap contract. In a nutshell, a swap contract can be defined as a serial publication of forward contracts put together. If the exchange of interest rate payments in one currency for payments in another currency is devised, then it amounts to a currency swap.If the exchange between both parties of interest obligations or receipts in the same currency on an agreed amount of bad bargainer for an agreed period of time is devised, then it is known as interest rate swap. An interest rate swap is an agreement between two parties to exchange interest payments calculated on different bases over a period of time. Under inte rest rate swap, one party to the contract makes fixed rate payments while the other partys payments are based on a floating rate such as LIBOR.For instance, if a company which has borrowed from a bank at a floating rate (7 m LIBOR) may want to swap that for a fixed rate (7m LIBOR) so that they can cover the risk if the interest rates go up. On one side, they pay 7% (of the agreed notional principal) and receive 7m LIBOR and on the other side they pay 7m LIBOR straight out to repay their loan. Thus they have converted a floating rate loan into a fixed rate loan.The said bank may manages its own risk from the above swap transaction by backing it out with another swap , say by paying 6.95% for 7m LIBOR and so they earn a profit of 0.5% difference thus avoiding the risk in the interest rate changes .The other different types of interest rate swap areBasis swap For instance, swapping 2m LIBOR for 4m LIBOR. Basic swaps are mostly used by owe companies because the get the mortgage paymen ts on monthly basis.Both fixed Currency Swap Both fixed and say fixed $ for fixed Both floating currency swap 2m $ LIBOR for 4 m Yen LIBOR.Cross Currency Swap fixed for 2m CHF LIBOR.Companies derive to a greater extent flexibility to exploit their proportional advantage in their various(prenominal) borrowing markets under currency swaps. Under interest rate swap, corporations try to focus on their comparative advantage in borrowing in a single currency in the short end of the maturity spectrum vs. the long end of the maturity spectrum. USES OF DERIVATIVESDerivatives are mainly used for speculation or hedging. For speculation, derivatives turn us leverage.For instance, instead of buying 5Million bond in the anticipation that its price will rise up, one can buy an option on that bond, which might only cost 2000. The profit chances or opportunities are the same less the price of the option but the risk is much less as the most we can loose in this deal is the option price ( 2000 ).For hedging, derivatives let you to seal the price now for a trade in future or at least limits the rise or impress of that price. An UK company holding a US bond which is on the verge of its maturity could buy an interest rate option to guarantee the dollar / sterling rate did not diminish the value of its bond. volatility is regarded as the most precise measure of risk and its return. The greater the volatility, the greater the risk and the reward as it is evidenced in the transaction from bull to bear markets. It is to be observed in the bearish market, volatility and risk augment while returns disappear including short selling returns. HistoryThe very first exchange for trading derivatives started by Royal Exchange in London, which allowed forward contract. Likewise, the first future contract was introduced to Yodoya rice market in Osaka, Japan in 1650. Then in 1848, Chicago Board of Trade was started to handle futures market of US.Russell Sage, a famous New York financier in troduced synthetic loans using the principle of put-call parity. Sage could able to create a synthetic loan by fixing the put, call and strike prices with interest rate poignantly high than the US usury law permitted.Chicago Mercantile Exchange started International pecuniary Market in 1972 which permitted trading in currency futures. The Chicago Board of Trade started first interest rate futures in 1975.Treasury bill futures contract was introduced in 1975 by Merc.The Chicago Board Options Exchange was started in 1973 and there were publications for the first time option pricing model of Fischer morose and Myron Scholes. Chicago Board Options Exchange created an option on an index of stocks which was originally known as CBOE 100 index which later known as S&P 100.During 1980, Swaps and other over-the counter derivatives were introduced. It was in 1994, the derivative trade witnessed a series of huge losses and this affected experienced trading firms like Metallgesellschaft and Pr octer and Gamble. Orange country, California which is the Americas wealthiest city was declared as bankruptcy due to derivative trading and use of leverage in a portfolio of short -term Treasury securities.DERIVATIVES OR DESTRUCTIVE? A CASE STUDY OF BARINGS, UK.Baring Brothers, a British merchant bank went to bankruptcy in 1995 after incurring a whooping loss of 860 one thousand thousand occurred on the Singapore and Osaka derivative exchanges. Nick Leeson, the banks star trader and absence of management controls to monitor his activities were the main reasons for this debacle. During the period between 1992 and 1995, Lesson built up positions in futures and options contracts on the Nikkei 225 stock exchange index, which proved highly profitable in the early years.Futures positions were bought by Lesson on the Nikkei index and financed cash calls on them as they fell in value by selling put options on the contract, thereby producing a straddle and thus betting against volatility of the market. Simex derivative exchange in Singapore were used to watchword the contracts and he run a hedged position on Nikkei index futures and make money by arbitraging between Singapore and Osaka markets.However he ceased hedging on the purchases make in Singapore and took on risk. Due to unexpected volatility in the market, losses were incurred and these losses in fact exceeded the net worth of Baring Bank .Lesson was later imprisoned for the falsification of records in an attempt to cover up his activities.The precept of this case law is to elucidate how a bank can face bankruptcy if there is no proper risk management system is in force. The case also establishes the concept of value at risk (VAR) which is a simple method to express the risk of a portfolio. Because of the recent derivatives disasters, end-users, regulators, financial institutions and central bankers are now resorting to VAR as a method to foster stability in financial markets .The case illustrates how VAR co uld have been utilized to Baring Bank case to warn its management of the risk they were facing in advance. VOLATILITY capriciousness has its effect on administered market and it is high when both supply and demand are inelastic and liable to random shocks. According to Rudiger Dornbusch, market always overshoots in answer to unexpected changes in economic variables.Volatility is a type of market incompetence and it is a response to uncertainty and excessive volatility is unreasonable.Volatility in stock and commodity market is represented by sharp changes in prices and inventory levels and level of volatility itself has fluctuated over the time. Changes in future prices, spot prices and inventories are influenced by changes in volatilityVolatility is a determinant of changes in price expressed in helping terms without regard to direction especially in stock price and stock index levels , commodities and in financial intermediaries .For example , an increase from 200 to 201 in one index is as same as the volatility terms to an increase in 100 to 101 in another index , because both changes are 1% and as this 1% increase is equal to volatility terms to a 1 % price decline .There are four ways to explain the volatility or movement and they are historical volatility , future volatility , expected volatility and implied volatility .Historical volatility is an appraiser of actual price variation during a particular period in the past. Future volatility refers annualized standard deviation of daily returns during particular future period basically between current and an option expiration. Expected volatility is an investors estimate of volatility utilized in an option method to cipher the theoretical value of an option. Implied volatility is the volatility percentage that illustrates the current market price of an option and it is the forefinger of an options price.Volatility is described as standard deviation of the yield of an asset and the value of an option always increases with volatility. The greater the volatility, the higher the option chance during its life and convertible to the underlying asset at a marginal profit and this methodology has been proved in the Black-Scholes commandment. Black-scholes formula yield results during trends and down-and-out when the market change sign. The implied volatilities are efficient forecasts of future volatility since varying market conditions cause volatilities to change through time stochastically and traditional volatilities can not correct itself to varying market conditions as ghastly .Stochastic volatility contradicts the assumption required by the Black-Scholes model if volatilities do modify stochastically through moment in time, the Black-Scholes method is no longer the correct pricing method and an implied volatility derived from the Black-Scholes formula provides no fresh information.Black-Scholes formula is lacking on certain issues like the oblique volatilities of various option s on the identical stock tend to differ disregarding the formulas hypothesize that a single stock can be correlated with only one value of implied volatility. The Black-Scholes formula mainly ignores the distribution of stock prices in US market. Some studies have revealed severe deviation from the price process fundamental to Black-Scholes formula like excess kurtosis, skewness, time varying volatilities and serial correlation. Further Black scholes deals with stochastic volatility poorly and it relies on impractical assumption that market dickers endlessly thereby ignoring institutional constraints and transaction costs. Stock ChartingStock charting is the process of a graphical sequence record enables it easier to dapple the effect of cardinal happenings on authoritarian warranters price., its functioning over a period of time and whether its trading its higher or its lower or in between these.Traders are very particular in daily, intraday data to forecast short-term price movem ents. Investors rely on weekly and monthly charts to mark long term trends and movements. stage business chart, Bar chart, Candlestick Chart and point and figure chart are some of the examples of stock charting method. arithmetical and semi-log arithmetic scales are two methods of price scaling used in the stock charting method.When the price range is hemmed within a tight range and used in general for short-term charts and trading. Semi-log scales are reclaimable for long term charts to estimate the percentage movements over a foresighted period of time including large movements. Stock and other securities are estimated in relative terms through tools lime PE, expense/Revenues and Price/Book and as such it will be more useful to analyse in percentage terms. OcillatorThis is an indicator which is calculated by taking 10 day moving average of the difference between the numbers of advancing and defining issues for authoritarian given index. An indicator will reflect whether an inde x is gaining or losing impetus, so the size of the moves is more significant than the level of the current reading. The level of the reading is influenced by how the oscillator changes each day thereby dropping a value ten days ago and adding todays value.The scale in moves is also helpful when it is compared with the divergence from the index price. If the Dow climaxes at the same time, the oscillator peaks in overbought subject field and suggests a top. Divergence is said to be negative and momentum is declining when index makes a new high but the oscillator fails to make a higher . whiz can buy if the index declines at this point but oscillator moves into oversold territory. If the oscillator rises above a previous overbought level though the index rises but does not make new heights, it is said to be upside momentum exists to continue the rally. SupportA support level is the price at which buyers are evaluate to enroll the market in considerable numbers to take control from s ellers. As the market has its track record, when price overhauls to a new low and then soars, the buyers who disregard on the first low will be persuaded to buy if price returns to that level back .Fearing of absentminded out the opportunity for the second time, these traders may enter into market in adequate numbers to take control from sellers. As the result, there is a rally strengthening sensitivity that price is unlikely to fall further thereby creating a support level. ResistanceThe price level at which the sellers are anticipated to enter the market in sizeable numbers to take control from buyers is known as exemption level. If price makes a new High and then move back, sellers who ignored the previous High will be predisposed to sell when price returns to that level back. Fearing of missing the opportunity for the second time, these sellers may enter the market in large numbers to overwhelm buyers. As the result, market perception will be reinforced that price is unlikel y to increase higher and form a resistance level. CANDLE CHARTINGIt is a price chart that shows the open, low, the high and close for a stock each day over a specified period of time .It is known as Japanese candles because they used to analyse the price of rice contracts. When the close is higher than the open , the same is represented by an white empty box in the candle charting .When the close is lower than the open , then it is represented by a solid inglorious candle ,Colored candles are used to reflect the days volume. Investment strategies in stock and optionsfollowing is the most of common investment strategies for keeping investment objectives, financial means and risk tolerance. Despite of market crash in 1929, market break in 1987, market correction in 1989 and though the prices of all securities fell down drastically but broad movement of the market has seen their value steadily increased. One of the strategies is to buy and hold for long the high quality stocks or futu res of stock or commodities .The buy and-hold system offers one to profit from this long term forward trend of the stock market. Further, dividend investment plan offers small investors a painless method of building wealth.Dollar Cost AveragingThis is also a long term strategy and one has to invest in a stock or mutual fund or futures at regular intervals monthly, quarterly or semiannually. The success of dollar-cost averaging relies on consistency of amount invested and the regularity of the payments so as to minimize pricing and timing risk. The success of the Dollar cost averaging depends upon the following factors.The plan for the investment should be for a long period i.e. from 7 years to 10 years .In the last 100 years, there were about 40 recessions or market corrections or a downturn about every 3 years and If one carry on to invest through about deuce-ace of these corrections, the profits of dollar-cost averaging tend to be maximized.2 .Investment at regular intervals is most preferred.Investment should be made regularly regardless of the price of the stock.Give preference to high quality of stocks or mutual gold and a company or fund with history of habitual dividend payments and possible for capital appreciation is a better choice.One has to make sure that he has enough strength so that he can adhere to the plan through highs and lows and sell out at the peak and thus the money allocated for dollar-cost averaging result in wealth-building funds, not committed funds.i Going ShortAn investor who prefers short i.e. enters into futures contract by agreeing to sell and deliver the underlying at a price and wishes to make profit from declining price levels and thereby selling high now , the contract can be repurchased in the future at a lesser price thus creating a profit for the investor.16.Spreads It involve taking benefit of the price difference between two different contracts of the same commodity and spreading is believed to be the most convention al forms of trading in the futures market because it is much safer than the trading long / short futures contract. There are different types of spread namely calendar spread, inter-exchange spread and inter-market spread. Swing TradingIt denotes a technique of placing emphasis on playing the swings in the PPS, selling on the highs and buying on the lows rather than the swiftness of the trade. To complete the swing trade, it may need more than a day, a week or authoritarian month or longer period and channeling stock is pursued by the some swing traders. FlippingIt refers the process of trading a stock very apace with in minutes or hours etc as past as possible may be on the same day. It is often used to explain a buy and sell with a share that is run and where the trader buys the stock as it is moving up and sells the same on even a higher point in a short period of time. A flipper aim is to maximize his profits by emphasizing on fast trades to earn quick profits. The risk is also less downside as the trader sits in a stock for a less time.i Hall, Alvin D., and Carolyn M. Brown. Investment Strategies Made Easy hithers How to Overcome Your Fears of the Market and Invest like a Pro. Black Enterprise Mar. 1994 66+.2.Fisher, Black and Myron Scholes, The pricing of Options and Corporate Liabilities The Journal of Political Economy, 81,637-654.3.Mackay, Charles. Extraordinary Popular Delusions and the Madness of Crowds New York, Harmony Books (1980).4.Chance .Don M. A Chronology of Derivatives Derivative Quarterly, 2 (winter, 1955) 53-60.5.Thomas L. Friedman ,The World Is Flat A Brief History of the Twenty-first CenturyStephen Leeb, Glen Strathy ,The approach path Economic Collapse How You Can Thrive When Oil Costs $200 a Barrel7.George A. Fontanills, tom turkey Gentile The Volatility Course8.George Soros, Paul A. Volcker The Alchemy of pay (Wiley Investment Classics)9.John C. Hull Options, Futures and Other Derivatives (6th Edition)10.Marc Allaire ,The Options strategian11. George Kleinman, Trading Commodities and Financial Future A Step by Step Guide to Mastering the Markets (3rd Edition).12. Sheldon Natenberg ,Option Volatility & Pricing Advanced Trading Strategies and TechniquesJeffrey M. Christian, Commodities Rising The Reality Behind the Hype and How To Really Profit in the Commodities Market.John J. Murphy ,Technical Analysis of the Financial Markets A Comprehensive Guide to Trading Methods and Applications (New York Institute of FinanceJohn F. Carter, Mastering the Trade (McGraw-Hill Traders Edge)16. Joseph Kellogg, Trading From the Inside17. Thomas N. Bulkowski ,Encyclopedia of Chart Patterns (Wiley Trading)18.Stephen W. Bigalow, lucrative Candlestick Trading Pinpointing Market Opportunities to Maximize Profits