A Healthy And Vibrant Economy Finance Essay - Free Essay Example

Sample details Pages: 13 Words: 4036 Downloads: 10 Date added: 2017/06/26 Category Finance Essay Type Argumentative essay Did you like this example? A healthy and vibrant economy requires a financial system that moves funds from people who save to people who have productive investment opportunities Mishkin, 2009. Therefore, the first and most important aim of each economy in any country is to preserve a long term economic growth and to maintain efficiency in the lending-borrowing process. For example, if purchasers of securities can distinguish good firms from bad, they will pay the full value of securities issued by good firms, and good firms will sell their securities in the market (Mishkin, 2009), this way, the securities market will then be able to transfer funds to the good firms that have the most productive investment opportunities. Don’t waste time! Our writers will create an original "A Healthy And Vibrant Economy Finance Essay" essay for you Create order The question arisen is the following: Does the job of stock markets and financial institutions sponsor economic growth? One line of research says it does: i.e. stock market does lead to economic growth and financial institutions enhance economic growth. Such result is obvious in Beck and Levine (2004). However, according to Krueger (2006), the financial sector is not the key to development and growth. It is thus vital to take a look into the history of such impact in developing countries such as the MENA region and specifically Lebanon, and to mention the role of financial information in financial markets, and to what extent it can affect any purchase or sale of a marketable security. The positive relation between stock markets, financial institutions and economic growth Lets firstly define the role of financial institutions in financial markets and how did it evolve throughout the years. Commercial activities in a Barter Economy were limited between two nations or business communities as per the Economy Watch (2010). However, this economy presented many drawbacks when it comes to trade; the concepts of money and barter dont match together, moreover, there has to be double coincidence of wants for exchange to take place and the problem of indivisibility of commodities comes in the matter of exchange. This led to the rise of an intermediary, specifically the financial markets, which will facilitate the flow of funds from individual surplus units to deficit units and where financial institutions participate and operate in a manner to maximize shareholders wealth. In addition, if financial markets were perfect, all information about any securities for sale in primary and secondary markets would be continuously and freely available to investors. So, all securities for sale could be unbundled into any size desired by investors, and security transaction costs would be nonexistent (Madura, 2003). This implies that there is no necessity for financial intermediaries existence. But because markets are imperfect, participants do not have full accessibility to information and cannot always break down securities to the precise size they desire. Thus, financial institutions are importantly needed to solve the troubles caused by market imperfections. For instance, financial institutions will use the information received of the requests on what securities are to be purchased or sold to match up buyers with sellers. In the 1960s and 1970s, deposits provided by surplus units to commercial banks and saving institutions were heavily regulated (Madura, 2003), but in the 1980s, saving institutions, insurance companies and other financial institutions were permitted more flexibility by regulators on the uses of funds (Krugman Obstfeld, 2009). A s regulations have been reduced, financial institutions had the opportunities to capitalize on economies of scale; i.e. commercial banks acquired other ones to produce a higher volume level of services rendered. By increasing the echelon of business supported, the average cost of services is reduced. Furthermore, the reduction in regulations has also allowed different types of financial institutions to capitalize on economies of scope, known as the industry consolidation (Brealey, Myers Allen, 2011). Commercial banks have merged with saving institutions, securities firms, finance companies mutual funds and insurance companies which enabled the customer to benefit and to obtain information of all the financial services from a single financial institution at a lower cost. Lets take for instance an example of a new graduate who needs $60,000 for his new vending machines project to be implemented in an area where the demand for such products is high. For that reason, you know that it i s an unmissed opportunity and would like to lend him the money so that he purchases the machines and to trigger the route of this project. However, to guard your investment, the legal part is seek to clarify all the crucial points specifying what will be the principal along with the interest to be repaid. Hiring the lawyer will cost an additional $500 so you realize that the total inflow from this transaction is not that worth business to invest in and decide not to go in it. This is why financial intermediaries are there to help the customer achieve the intended transaction from a single place at a lower cost which increases efficiency in trade, i.e. economic growth. On the other part, financial intermediaries focused on how investors can construct the best possible portfolio by diversifying and hence not putting all the eggs in one basket as the old adage states. During the late 1990s, many people scoffed at being diversified, because the idea of mixing the investments among st ocks, bonds and other financial securities meant missing out on the soaring gains of tech stocks (Luccheth Francis, 2002). But with the collapse of the tech bubble and then the fall of Enron Corp, the example that will be discussed in the next part, the danger of holding a portfolio in a single industry turned on the red alarm and induced a corrective action especially that many investors were hit home as a result of the mentioned threat. Additionally, financial intermediaries promoted of appraising the risk and return characteristics of an investment in terms of how that security held affects the risk and return of the portfolio instead of evaluating it in isolation. To illustrate, we consider the following question: Would we expect to find higher correlations (measure of the degree of relationship between two variables) between the returns on two companies in the same industry or in different industries (Besley Brigham, 2005)? For example, would the correlation of returns on For ds and General Motors (GM) stocks be higher, or would the correlation coefficient be higher between Ford or GM and Procter Gamble (PG)? How would these correlations affect the risks of portfolios containing them? The answer would be that the choice shall go for the perfectly negatively correlated stocks so to reduce risk. Fords and GMs returns should have a positive correlation of 0.9 since both are affected by auto sales. However, the correlation of Fords and GMs returns with PGs returns should be at about 0.3. What would the financial intermediary advice is to hold a two-stock portfolio consisting of Ford or GM plus PG since it is less risky to hold a diversified portfolio than to carry stocks of the same industry. We elaborate our study to ask the following: Do financial institutions lead to a better economic growth or economic growth leads to better financial institutions? To summarize what was previously demonstrated, the rewards of sound financial markets are well known . These markets play a vital role in assembling savings and in allocating them to fruitful investment. Moreover, strong local markets can also provide a more stable source of financing for the public and the private sectors, protecting them to some extent against unstable investments. In several industrial countries, such as the United States and the United Kingdom, financial markets over the past decade have substantially improved economic performance, through the development a wide array of products that allow for a more efficient allocation of savings. This rapid financial development has helped boost growth in both countries (de Rato, 2007). For example, since the mid-1990s, productivity has grown by about 1 percent a year more in the United States than in the euro area. And almost half of this difference is accounted for by differences in productivity in the financial sector. Similarly, several countries in Latin America have made good progress in developing their financial mar kets. Pension and mutual funds in Chile have helped extend maturities and intensify financial markets. Similarly, both Brazil and Chile have developed foreign exchange derivatives markets which are among the most sophisticated in the world. These developments are helping to enhance stability and economic growth. Moreover, it is no coincidence that the economic growth leads to better financial institutions. The causality runs both ways. As macroeconomic policies have become more credible, and people are confident that inflation will remain low, demand for financial services will as a result increase. Thus, as the inflow to financial markets amplifies, the accessibility of credit increases, encouraging faster growth. And as financial markets become more sophisticated, and risk management and hedging become easier and clearer, economies become better able to manage volatility. In this framework, we conclude that countries carrying more developed financial sectors, stronger instituti ons, sound macroeconomic policies, and more open trade systems (de Rato, 2007) are more likely to entail an economic growth. Raising funds can be achieved either through debt markets or equity or stock markets. Stocks are claims to share in the net income (income after expenses and taxes) and the assets of any organization (Bodie, Kane Marcus, 2008). If supposedly you own one share of common stock in a company that has issued one million shares, you are entitled to 1/million of the firms net income and 1/million of the firms assets. A recent report prepared by Pascale Balze, a case writer, Stephen Mezias, professor in INSEAD Business School Abu Dhabi, and Yousef BAZIAN, Partner, Corporate FinanceÂÂ  atÂÂ  PricewaterhouseCoopers (which firms provide industry-focused assurance, tax and advisory services to enhance value for clients) in September 2011 discusses the future of the MENA region within the next 5 years. This paper states that Most Private Equity (PE) firms tha t participated in the PwC/INSEAD survey continue to believe that the MENA regions sound demographics and vast natural resources will spur economic growth in the next five years. This activist outlook is largely driven by the growth predictions of the Gulf countries, the economic engine of the wider region, which has remained largely protected from the political chaos. PE firms are optimistic about the forecast of sectors such as healthcare, education, consumer goods, oil and gas, which are likely to benefit from government spending plans. PE firms are seeking to invest in industries such as railways, toll-ways, ports and utilities, which definitely attract billions in capital spending. As per the geography, PE firms will look growing outside the region in places like Turkey or as far as India and Sub-Saharan Africa or explore riskier markets such as Iraq. Within the region, PE firms say they are likely to invest more in Egypt, Saudi Arabia and United Arab Emirates. However, as PE fi rms regained confidence in the economic situation towards the end of 2010, the beginning of 2011 brought renewed worries as a result of the political and social protests that spread across the region. It started with Tunisia followed by Egypt. Instability was developed elsewhere in the region including Algeria, Bahrain, Jordan, Morocco and Oman, while the situation further deteriorated in Lybia, Syria and Yemen. Confronting this political uncertainty, many participants in the regional PE industry arrested their immediate investment plans in countries affected by the protests and exercised more caution before proceeding with investments elsewhere in the region. Yet, the industry remained confident for the remainder of 2011. This sentiment is driven by the fact that the GCC (Gulf Cooperation Council), which is the economic engine of the region, has been largely sheltered from the Middle East protests and prospects for its economic growth remain strong. From the investors point of view , opportunities for PE investments arise in the outcome to develop skills of a rapidly growing population in the MENA region. Moreover, the efforts of oil exporting countries to diversify their economies by developing knowledge-based activities will generate further opportunities in the education sector, such as investments in private schools, adult education and preparation centers which will offer attractive returns. In addition, the healthcare sector in the MENA region attracted just 1% of investments (in value) in 2006 but has since increased to 43% in 2010. Large government spending in healthcare, growing population, superior desire for healthcare services, increased longevity, and the need to engage in the effects of unhealthy lifestyle problems are key factors driving PE investment in the health sector which again will contribute to economic growth. To recap, it is clear to state that sound financial institutions and stock markets are supposed to pool the inflows and to de dicate it in the right investments that will assure economic growth. Furthermore, as the economy becomes more stable with developmental projects taking place, demand for investments will increase and thus the load of work in the financial institutions will be boosted, leading to better financial institutions and stock markets. However, as the economy grows, and grows more complex situations; the financial sector needs to stay in a state of race. Banks shall grow and become more sophisticated in their ability to appraising scenarios for risks and returns. Constant and rapid growth needs to be withstood by a strong financial system, capable of allocating the needs of all the economys chain. Those economies that have experienced rapid growth over the long term have faced vast structural change, as they have shifted from being primarily rural and agricultural to a more urban, manufacturing and service based economy. Now that we have analyzed the optimistic effect of stock markets and financial institutions on economic growth, lets examine next the unhelpful milieu. The shortfalls of the financial institutions role in the economic growth process Until 2001, Enron Corporation, a firm oriented towards the trading in the energy market, appeared to the public successful. It occupies the one fourth of the energy-trading market and was valued at $77 billion in August 2000, making it the seventh largest corporation in the US during this year. However, in 2001, Enron collapsed and announced a $618 million loss along with disclosed accounting errors which had let the SEC to conduct a formal investigation of Enrons financials. It turned out that Enron was hiding large amounts of debt off of its balance sheet. In December 2011, the company declared its bankruptcy. The collapse of Enron raised the question of the confidence in the institutional pillars such as corporate disclosure, external audit and failure to notice by regulators and the SEC (Krishnaswany Stuggins, 2003). This example shows that companies wanted to clean their balance sheets from risky projects so that to keep investors unaware of the risky portfolio theyre holding . From this case, we point at the vital role of the financial information and how it is affecting negatively the confidence of investors in injecting their money in the unknown. If we break down the financial structure in the world, we find eight fundamental facts, out of which: -Marketable securities are not the primary source of financing for businesses in any country in the world, and stocks are not the most important source of financing. Lets illustrate this fact by the example of the vending machines stated earlier. This young graduate is unable to assess the real quality of the machine and therefore must pay an amount reflecting the average prices of the machines in the market. In contrast, the owner of a bad used vending machine will be delighted to sell it at the average price since its sold above its real value. However, if the machine is good, the holder may not want to sell it at a price lower than its real value. This is a particular feature of the way the adver se selection problem interferes with the professional performance of the market and hence prohibits the pathway for the economic growth that shall exist through the transparency of the financial information under the wings of the regulators. This is exactly what describes the asymmetric information (a situation where one partys knowledge about conducting a certain transaction is insufficient; players in the same field dont hold the same amount of information) which envelops as well the moral hazard problem (situation where the borrower tends to invest the money in risky projects since if he gains, he will return the money and if he doesnt win, it wont be his money lost). If I carry LBP 37,500,000 and want to deposit this amount in a certain Lebanese bank, if this latter collapses, I lose everything, therefore I shall have full information of where the bank will invest my money which means that the bank have to be transparent to depositors so that savers have full confidence. The asy mmetric information in this case is when the saver is unable to monitor if the bank is investing his money properly. When investors cant decide where to deposit and the bank isnt transparent, investors wont be able to fund their investments which will contribute to a downturn in the economic growth. From the investors scale, he might want to subscribe to financial companies that will help him assess the value of any company hes intending to invest in. Mr. X knows that this investor has additional information, therefore he will react as a free rider, and as a result he wont benefit from this information. We all know that the very first aim of any financial institution is to make loans, but can it help mitigate the asymmetric information? The answer is clearly YES, instead of lending the money to whomever, it shall lend borrowers with the most productive investment opportunities. The issue of free rider problem is very limited in financial institutions due to the reason that it issues private loans. This is why banks play an important role in sponsoring the activities of businesses more than securities markets do. Tools to help reduce adverse selection and moral hazard problems envelop the government regulation to increase the transparency and availability of information, collateral and net worth which will reduce the lenders loss in case the borrower defaulted and the monitoring and enforcement of restrictive covenants which will rule out each and every risky activity and will encourage desirable behaviors. In most developing countries such as Lebanon, the use of collateral is not always effective since bankruptcy procedures are too slow, creditors must first sue the defaulting debtor for payment which can take several years, then, the creditor has to go to court again to acquire title to the collateral. The process can take too long to the extent that by the time the creditor obtains the collateral, it may have been neglected and thus have little value. Whe n the market is unable to use collateral effectively, the adverse selection problem will be worse since the requirements for additional information concerning the creditworthiness of the borrower is highly needed by the lender so to monitor the quality of the loan. In this case, there will be less outstanding productive investments which will induce a lower growth rate for the economy. Also, many developing countries enclose a weak regulatory system that makes it hard to provide adequate information to the market. For instance, accounting procedures implementations are somehow fragile making it hard for the lender to evaluate the borrowers balance sheet. Again, this inhibits the flow of money within financial systems to projects that may be productive and donor to the economic growth. Another issue raised as to defend the cause of the slow rate of economic growth in the MENA region is the issue of illiquid market. Liquidity refers to the degree, at which an asset is converted int o cash. The financial crisis has worsened the liquidity complexities in these markets. In 2010, the exchange turnover ratio, which is the annual traded volume as a percentage of market capitalization, dropped throughout the region (Balzian et al., 2011). The ratios of Saudi Arabia, Kuwait and Dubai were around 70 to 75% below their 2008 level at respectively 57%, 37% and 35%. However, the NYSEs turnover ratio declined by just 29% during the same period standing at 98% in 2010. And as mentioned earlier, the MENA region suffers from a standardized clearing systems and proprietary systems. There was a hope that the crisis would encourage MENA governments to consolidate the regional capital markets and make them more open to worldwide investors, unfortunately, few measures have been taken into consideration and few were implemented, the issue that promised even more a very slow rate of growth. Referring to Blominvest Bank views on regional economic and financial developments for the sec ond quarter of 2012, the overall economic activity in the Middle East, hardly hit by the eruption of the Arab Spring, reveals significantly quieter in 2012. The Egyptian revolution against the government was accompanied by plants shutdowns, simply economic downturn. Employees couldnt collect their salaries as banks stayed closed for a long period of time. While Egypt is characterized by a cash society, stores declined to sell on credit basis and ATMs were empty of cash, citizens were left with no liquid cash which pushed them to borrow money from friends so to buy the cheapest foods. The Egyptian stock market was closed as well because of this economic crisis. The Egyptian crisis slowed down the countrys growth rate which affected the work of the Egyptian stock market. Rating agencies started to downgrade Egypts foreign debt. Moodys cut Egypts foreign currency bonds to Baa3 from Baa2 and foreign currency deposits to Ba3 from Ba2. Lets cover next the close example of Lebanon and t he role of the Lebanese banks in the economic growth. The case of Lebanon High public debt and political instability hold back Lebanons ratings. Credit ratings occupy a crucial role in determining the countrys risk of default and as a result the corresponding yield on its debt issues. The grades are set as per many indicators such as the countrys economic performance, Debt-to-GDP ratio and political security. Lebanon was firstly given a grade in 1997 by Moodys (B1) and by SP (BB-) due to its risk of default and to the outstanding public debt. Lebanons debt to GDP ratio had been estimated at 78% in December 1996. By 2000, Lebanons debt accounted for $25.4 Billion amounting to 151% of total GDP. Lebanons opportunity to break down the debt in 2002 so to build new confidence in its debt issues was accompanied by securing funds from the Paris II conference where the international community provided $2.4 Billion in direct financial support at maturity of 15 years and an interest of 5%. BDL and Commercial banks provided a total of $7.8Billion in long term loans , almost half of which with zero interest. This was shown in 2003 when huge capital inflows doubled BDLs foreign reserves to $10B. Furthermore, the rise in domestic consumption resulting from higher liquidity, and the result in tourist activity due to a relatively stable political environment stemmed an average economic growth rate of 3.77% between 2002 and 2005. Although Debt to GDP ratio was estimated at 176%, 2006 was a turnaround year for Lebanons debt ratings despite the 1 month military clash that year. We can thus conclude from that the economic and political instability in Lebanon is the factor thats affecting stock markets, however, financial institutions and specifically commercial banks in Lebanon belong to a rigid industry under the umbrella of the Lebanese Central Bank. Conclusion In a nutshell, as a Lebanese citizen, I would like to note that Lebanese banks and especially the Central Bank is seeking a strategy thats obliging most of Lebanese people to become investors of the risk averse type. Commercial banks offer an average of 6.5% on all Lebanese deposits giving incentive to people to open savings deposits instead of investing this money in projects that may occupy a huge lack in Lebanon, such as infrastructure projects. On a daily basis, we see banks ads on TVs encouraging people to apply for all types of loans such as personal loans, wedding loans, and even plastic surgery loans, and we unfortunately lack some incentives on educating people for trading in the stock market that will enable them to maybe succeed more than depositing their money in the bank saving accounts. The taxi driver in the states holds a well diversified portfolio of stocks and bonds while here in Lebanon, we lack this lifestyle, this education that might really shift the whole eco nomy into a higher level of educational growth, and thus contribute to an economic growth.

Book Review of Night and Dawn Essay - 2568 Words

Book Review of Night and Dawn Never shall I forget that night, the first night in the camp, which has turned my life into one long night, seven times cursed and seven times sealed. Never shall I forget that smoke. Never shall I forget the little wreaths of smoke beneath a silent blue sky. Never shall I forget those flames which consumed my faith forever. Never shall I forget that nocturnal silence which deprived me, for all eternity, of the desire to live. Never shall I forget those moments which murdered my God and my soul and turned my dreams to dust. Never shall I forget these things, even if I am condemned to live as long as God Himself. Never. (9) These are the words of the acclaimed writer Elie Wiesel. From this simple†¦show more content†¦Night opens in 1941 when Eliezer is 12 years old. At the time he is living in the Hungarian town of Sighet. He is the only son in an Orthodox Jewish household, highly observant of Jewish tradition. Eliezer keen interest in Judaism brings him to avidly study the Cabbala, a book based on Jewish mysticism. His instruction is cut short, however, when his teacher, Moche the Beadle, is deported. Moche returns after a few months with a horrifying tale. The Gestapo, or German secret police, took charge of his train, led everybody into the woods, and systematically butchered them. Nobody believes Moche and the small town quickly takes him for a lunatic. Yet, the reality of Moches experience becomes evident when a series of increasingly repressive measures are passed by the Nazis who occupy Hungary in the spring of 1944. The Jews of Eliezers town are herded onto cattle cars, commencing a ni ghtmarish journey: after days and nights crammed into the car, exhausted and near starvation, the passengers arrive at Birkenau, the gateway to the concentration camp, Auschwitz. At Aushwitz, he and his father are separated from his mother and sisters, whom they never see again. They are then stripped, shaved, and disinfected while their captors treat them with almost unimaginable cruelty. Eventually, they are marched to a work camp, Buna, where Eliezer is put to work in an electrical-fittings factory. Under slave-labof conditions, severely malnourished and decimated by the frequentShow MoreRelatedThe Holocaust Of Night By Elie Wiesel991 Words   |  4 PagesElie Wiesel wrote this non-fiction book to alert his audience of his and his families experiences in the Holocaust and what they went through. He notes his journey through chronological events using extreme description. He accomplished this purpose by detailing every little thing that he experienced and that the people around him experienced. The central thesis of Night by Elie Wiesel is that a hostile and insensitive environment and world can cause even the strongest person to lose faith and identityRea d MoreInfluence of Cultures on The Thousand and One Nights Essay examples1456 Words   |  6 Pagesstories from the Arabic work The Thousand and One Nights. The work of The Thousand and One Nights represents basically a female that is a strong and clever idol and continuously imaginative and creative. It is an anonymous work which is widely known in the Arab world. It is an Arabic collection of a thousand tales, which is derived from the Persian version, telling of a King who was in the habit of killing his wives after the first night, and who was led to abandon this practise by the clevernessRead MoreThe Thousand and One Nights1472 Words   |  6 PagesInfluence of Cultures on The Thousand and One Nights Stories like Sindbad, Aladdin and the Magic Lamp and other popular stories are very common today in the western culture. Animated movies were also made for the entertainment of kids on these popular stories. One might wonder that where these stories originated and how it came down and made place in the western culture. Although these stories are very popular in both the western culture and the eastern culture but the original literary workRead MoreEssay on Conquering My Fear of Writing1002 Words   |  5 Pagesspot in my otherwise invincible academic armor. I hate writing and I despise reading. Other than magazines, I cannot recall reading anything since The Crucible which was a teacher assigned book in my sophomore high school English class. Not that I read a lot before that, I dont remember reading any books in my middle school years neither. Now, with this writing assignment since a long time, my brain feels like an old rusty engine of an 81 Porsche cranking up for the first time in years, readyingRead MorePersonal Essay - Reading and Writing1036 Words   |  5 Pagesspot in my otherwise invincible academic armor. I hate writing and I despise reading. Other than magazines, I cannot recall reading anything since The Crucible which was a teacher assigned book in my sophomore high school English class. Not that I read a lot before that, I dont remember reading any books in my middle school years neither. Now, with this writing assignment since a long time, my brain feels like an old rusty engine of an 81 Porsche cranking up for the first time in years, readyingRead MoreTheater Review : The Arabian Nights1262 Words   |  6 PagesTheater Review: The Arabian Nights On Sunday, March 19, 2016, I had the pleasure of attending Cal State University San Bernardino’s The Arabian Nights musical theater production written by Mary Zimmerman and adapted from the classical story of â€Å"The Book of the Thousand Nights and One Night†. Run time was a total of 2 hours and 35 minutes, with special ticket pricing for students was 6 dollars, general being 15 dollars and special 12 dollars. As the book suggests the original story consists of 1001Read MoreNarrative Of The Life Of Frederick Douglass1068 Words   |  5 Pages Frederick Douglass: Narrative Of The Life Of F.D Frederick Douglass wrote several books, but one of his best selling books was: The narrative life of Frederick Douglass. This book talks about how crucial Frederick’s life was since a child. His mother was Harriet bailey, a dark skinned women who was a pure breed African. His Father was a white man, rumors were circling that his master was his father. Since a newborn he was separated from his mother, which means that he couldn’t remember how herRead MoreAnalysis Of The Book Don Quixote 1141 Words   |  5 PagesStory Author and journalist, Barbara Reynolds, in a scholarly review by Arthur Terry, stated that the book Don Quixote, â€Å"†¦offers a great detail, especially the interesting introduction, the excellent notes, and the helpful cast of characters. Students and other serious readers of the classics will be grateful.† (Terry 107) Reynolds expresses her opinion that Don Quixote is a well written and highly recommended novel. Within the book, there are a series of short stories, poems, and essays. ThoughRead MoreThe Novel Perpetual Fear 1343 Words   |  6 Pagesprison camps during the Cultural Revolution. In the novel, the leaders are ignorant and the boys easily outsmart them. In real prison camps, the leaders were violent and very strict. The boys also used literature as an escape from their lives, but the books they read were banned and would get people in reeducation killed. Lastly, the boys were able to roam around and had the ability to go wherever they wanted. In reedu cation, they were given very little freedom and had a curfew. The experience of theRead MoreTechnologys Impact on Childhood, a Comparison of Past and Present1594 Words   |  7 Pagesthe street and gives helpful tips and cheers when due. Afterwards, he tinkers in his workshop or attends to a household repair, before retiring to the living room to read, watch television, or listen to the radio. The mother, home-maker, rises at dawn to make her family breakfast and prepare the children for school. She spends the day cleaning the house and doing any shopping required for the family. Home in time to greet the children home from school, she makes their afternoon snack and instructs

Case Study of Evaluation of whether Ed’s Samples †MyAssignmenthelp.co

Question: Discuss about the Evaluation of whether Eds case might be helped by a real option and the way it could help. Answer: Based on the provided case study, Airway Technologies has an engineering manager named Ed Draycutt. The organisation is engaged to produce computer systems for control installations related to air traffic in the airports. In order to deal with this situation, real option could be useful to evaluate the feasibility of the project. In the words of Burns Walker (2015), real option is the alternative available within the opportunities of business investment, as it references a tangible asset rather than financial instruments. Hence, with the help of real option, Airway Technologies could change or curtail project depending on the changing market conditions. In addition, factoring in real options influences the potential investment valuations (Grob, 2013). As real options do not take into account derivative financial instrument; however, it provides real choices or opportunities, which Airway Technologies could seek or exploit opportunity. For instance, investment in a new system might fetch an organisation with new opportunities of initiating new products and making adjustments to the changing conditions in the market (Bierman Jr Smidt, 2012). Hence, in order to undertake the investment decision, Airway Technologies needs to take into account the value of the real option that the facility provides. In this case, the use of abandonment option could be made, as it permits both parties to walk out of the contract before the fulfilment of obligations (Brunzell, Liljeblom Vaihekoski, 2013). Airway Technologies could include this option explicitly as portion of the terms of contract along with specifying that there would not be any penalty imposed on any the parties, if the contract was terminated before maturity. For instance, if Ed Draycutt withdraws providing his proposed system having a clause of abandonment, Airway Technology could not sue him for violating the terms of the contract. Thus, this option of abandonment is an attractive characteristic for the participants, as it helps in protecting the financial interest of each party in the circumstance that an investment does not generate the desired benefits. However, both Airway Technology and Ed Draycutt need to be aware that if any party withdraws the contract, it could have serious repercussions on the other party. It has already been observed that there is a substantial risk of loss associated with the project. It is required to be made explicit in any management presentation. The option of abandonment would be highly significant for the organisation, if a considerable portion of the developmental cost could be avoided or recovered in the initial year. Hence, it would seem like the proposed system might not be installed. Due to thus, the magnitude of loss could be reduced; however, this might have considerable effect on the overall productivity and profitability of Airway Technologies. Therefore, it is highly suggested that the organisation need to make use of the clause of abandonment, since changing market conditions might necessitate the requirement for stopping the installation of the new system to avoid serious losses. References: Bierman Jr, H., Smidt, S. (2012).The capital budgeting decision: economic analysis of investment projects. Routledge. Brunzell, T., Liljeblom, E., Vaihekoski, M. (2013). Determinants of capital budgeting methods and hurdle rates in Nordic firms.Accounting Finance,53(1), 85-110. Burns, R., Walker, J. (2015). Capital budgeting surveys: the future is now. Grob, H. L. (2013).Capital budgeting with financial plans: an introduction. Springer-Verlag.

Lying and Deception in Our Personal Relationships Essay Example

Lying and Deception in Our Personal Relationships Essay There is no single person in this world who has never told a lie. No matter how big or small, direct or indirect, verbal or non-verbal; we all have told a lie. The problem with lying is most of the time your lies comes to light. Knapp and Vangelisiti state, â€Å"If acts of omission, exaggeration, vagueness, evasiveness, and substitution are all part of the act of lying, than everybody lies† (2006, p. 248). Whether you wore your sister’s dress, after she said no, only to have her come home with the dress in the dirty clothes and you tell her you did not wear it. Or you went out to eat with an ex-lover and told your partner you went with a friend, only for your partner to see that same friend at the gas station. It is all lying and deceiving. We live in a society where lying and â€Å"sugar-coating†, which is not fully telling the truth, has become more and more acceptable. In our personal relationships lying can have a detrimental effect; whether we accept it or not lying and deception affects our communication in our personal relationships as well. Deception violates both relational and conversational rules is often considered to be a negative violation of expectancies† (Guerrero, Anderson, Afifi, 2007, p. 292). In our personal relationships, deception usually leads to feelings of distrust and betrayal. Deception leads to uncomfortableness whether you are being deceived or you’re the deceiver. I have lied in many of my personal relationships. Many times the lies were intentionally. Most of the time the lies were either t o hide something, trying to make myself look better, or just simply because I was ashamed of the truth. We will write a custom essay sample on Lying and Deception in Our Personal Relationships specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Lying and Deception in Our Personal Relationships specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Lying and Deception in Our Personal Relationships specifically for you FOR ONLY $16.38 $13.9/page Hire Writer My personal experiences with lying have been nothing but horror movies. Some people who are professional liars or deceptors might say I just do not know how to lie correctly. However, whether it’s lying correctly or incorrectly it is still a lie. A lot of the times lying is actually more work than telling the truth because you must remember you lies, â€Å"many liars have a hard time keeping their story straight† (Knapp, Vangelisiti, 2006, p. 251). Lying is nothing more than a technique, or a way to escape a current or past moment. In most personal relationships lying can severely and/or moderately affect your relationship. In fact, Knapp and Vangelisti conclude, â€Å"Lying appears as one of the most complicated relational interaction patterns† (2006, p. 247). This is mainly because the outcomes of a lie and/or being deceived by a love one or someone you care about. However, lying is not the only way partners can deceive each other, â€Å"deception includes all communication or omissions that serve to distort or omit the truth† (Guerrero, Anderson, Afifi, 2007, p. 292). This application paper will discuss, define, contrast and explain lying and deception. This paper will also discuss how deception can affect your personal relationships and how it can affect your communication in personal relationships. But, â€Å"baby I had to lie or else we would not have stayed together. † Is there any appropriate time to justify a lie? Do you really care about me if you’re lying to me? â€Å"Many People decided whether to tell the whole truth and nothing but the truth, based on the possible outcome of that choice† (Knapp amp; Vangelisti, 2006, p. 47). Lying to maintain a relationship is a very selfish strategy to keep the relationship together. Knapp and Vangelisti state, â€Å"lying as a behavior is involved in maintain a close relationship† (2006, p. 248). However, this is primarily a short term solution. Although, many deceptors who use lying as a tool to keep a relationship together it is not. Many times lying after you have deceiv ed your partner, makes the situation worst in the long run; this is mainly because you have to tell another lie to keep the truth from coming out. Ultimately, no matter how much the truth hurts, the truth is always better than a lie. In personal relationships, honesty is an important trait. It is a trait that most people require when they seek to further a relationship. But, making the decision to tell the truth depends on what constitutes a relationship. So, if lying will temporarily maintain the relationship, than most people will lie. In personal relationships, especially romantic, if you know a person well enough, you know what they can handle and what they can’t, so if telling the truth will damage the relationship, most people will lie. In fact, â€Å"the best predicator of relationship termination as a result of a discovered lie, is the perceived importance of information lied about†. This statement best applies to many romantic couples who are committed to their relationship with each other. In a study comparing strangers, friends and romantic partners, it showed the most lying occurs in romantic relationships (p. 292). Buller and Burgoon (1994) defined deception as â€Å"intentionally managing verbal and/or nonverbal messages, so that a receiver will believe or understand something in a way that the sender knows is false† (as cited in Guerrero, Anderson, Afifi, 2007, p. 93). Deception is never expected to happen in relationships. However, in many romantic relationships (as well as personal relationship) it happens with thought, until after. If relational communication â€Å"is about how communication affects the personal relationships we create, sustain, revise, and sometimes dismantle† (Wood , 2000, p. xix), than deception has to be a downfall in our relational communication when deception and lying occurs. There are five primary types of deception: lies, equivocations, concealments, exaggerations, and understatements. I have experience all forms of deception, but the two I have experience greatly are, concealment and Understatement. Guerrero, Anderson, and Afifi state, â€Å"Concealment or omission is yet another form of deception† (2007, p. 293). Leaving things out and not including relevant information to your partner is concealment. For example, my ex would go out to night clubs, but would leave out the fact that he was going to a strip club. He knew I would have a problem with it, so he was reluctant to inform me. â€Å"Understatement or minimization, on the other hand, involves downplaying aspects of the truth. I often experience this form of deception. A lot of times it is to make myself look better. Why is it so hard to confront a liar when you know they are lying? Someone once told me if you’re not a part of the solution, your apart of the problem. When being a part of the deception, you don’t always realize you are also a part of the problem. However, I believe your mind can play tricks on you and you might not always feel like you’re being deceived, even if it’s right in front of face. When someone is close to you, you expect them to tell the truth. However, the truth is not always told and you might have to search to detect a lie. When partners suspect they have been lied to or deceived they might take drastic measures to seek the truth. Knapp and Vangelisit state, â€Å"Changes in behavior or activity patters often trigger partner alertness if not suspicion† (2006, p. 250). However, many times suspicions and can lead to troubles. â€Å"Suspicion can create suspicion to the point where neither person trusts the other and the lie decteor have created the very thing he or she set out to destroy† (Knapp, Vangelisiti, 2006, p. 250). Your relationship can be easily destroyed by going on a hunt for the truth, because even if you have suspicions it does not always give you the right answer. Your mind could be playing tricks on you. â€Å"Detecting deception is difficult, because there are no completely reliable indicators of deception† (2007, p. 294). As a romantic partner, I have been deceived more times in my romantic relationships than in my other personal relationships. I believe in forgiveness, but the hard part is forgetting. I was in a relationship where I was deceived many times and forgave many times. Every time I was deceived I would trust less and less, but somehow believed the relationship would work and time would heal everything. My communication styles changed, I no longer could speak slowly or without anger. Even if it was about clothing on the floor I had to yell. My love styles changed, instead of the gentle person I was, I became very aggressive. I went from an Agape lover to a Mania lover. The lies and deception changed everything for me. I was not myself. I began to downplay all the positive aspects about the relationship and could only see the negative aspects (the lies and deceitfulness). We eventually broke up, mainly because of the lack of trust and also confusion of what we really wanted in each other. After we broke up, I attempted to find answers to why my partner deceive me in so many ways. Guerrero, Anderson and Afifi, talk about partner-focused motives, self focused motives, relationships-focused motives (p. 293). I think my ex had a mixture of all three motives. In conclusion, I would like to say lying and deception can lead to conflict and relationship break up. I know first hand on what it is like to be deceived. No one likes the feeling. We have discussed defined, contrast and explain lying and deception. References Guerrero L. , Anderson P. A. , amp; Afifi W. (2007). Close encounters: Communication in Relationships (2nd ed. ). Los Angeles; CA Sage Publications. Knapp, M. L amp; Vangelisti, A. L (2006). In Galvin, K. M. , amp; Cooper, P. J. (Eds. ) (2006). Making connections: Readings in relational communication (pp. 247-252) (4th ed. ). Los Angeles, CA: Roxbury. Wood, J. T. (2000). Relational communication: Continuity and change in personal relationships (2nd ed. ). Belmont, CA: Wadsworth.

Breath, Eyes, Memory by Edwidge Danticat

Breath, Eyes, Memory by Edwidge Danticat The novel breath, eyes, memory is a true manifestation of the medieval and present human society. In simpler terms, it reflects the basic elements that spun our existence. These elements are explained from the main themes of the novel. These themes form the framework of this paper because immigration, love and parenting are discussed as the main themes in the novel.Advertising We will write a custom essay sample on Breath, Eyes, Memory by Edwidge Danticat specifically for you for only $16.05 $11/page Learn More Immigration Immigration is a major theme in the novel breath, eyes, memory because it describes the foundation of the novel’s plot. Moreover, the theme of immigration is almost representative of the current and past American immigration trends. From the novel, a reader is able to see the difference in culture between Sophie and her mother. Sophie was raised in Haiti but her mother lived in New York (Danticat 3). As the novel progresses, we can see that Martine (Sophie’s mother) invites her daughter to the US to stay with her. From this understanding, the theme of immigration is profound. After shifting her residence from Haiti to New York, Sophie discovers missing pieces of her past. In addition, she is able to adjust to the new American lifestyle. Later in the narration, Sophie returns to Haiti to see her grandmother after she develops some resentment towards her mother. Her trip back to Haiti is also another manifestation of the theme of immigration, where she goes back to her native homeland to live with her grandmother and aunts. However, throughout the novel, the differences in culture (between native Haitians and Americans) are exposed, and the concept of assimilation is emphasized to synchronize the two cultures (Danticat 15). Love The theme of love is profound in the novel breath, eyes, memory. Love manifests in the Haitian ritual to check female virginity, where mothers test their daughters to ensure they are still pure. This is an act of love, which manifests in protection. Testing is therefore done to ensure mothers protect their daughters from the social evils of the world. Briefly, this ritual acts as a deterrent for young women to engage in runaway sexual adventures, which may expose them to harm (Danticat 23). Therefore, due to the practice of the ritual, young women observe chastity because they would not want to be condemned if they failed the test. Though the entire experience is traumatizing for Sophie, clearly, the procedure is done out of love.Advertising Looking for essay on american literature? Let's see if we can help you! Get your first paper with 15% OFF Learn More When Sophie moves to America, she finds love with her husband. This episode in the novel’s plot is a fast forward to Sophie’s life after high school (Danticat 31). Sophie becomes obsessed with the man next door and through love; they are able to court and live together . From this love, they bore a daughter. The analysis of love within the above framework can be understood in the context of family love because Sophie and her husband lived together, bound by love. By extension, the theme of love also manifests in the bond that existed among the Caco women. Coupled by a deep sense of history, the theme of love binds the practices, beliefs and values shared by the Caco women (Danticat 31). When Sophie moves back to Haiti, she seeks counsel from these women and consequently, their advice shape her ideals as a woman. The bravery and struggles of the Haitian women are passed down to Sophie through the love they have for her. They also treat her as one of their own because of the love they all share. Parenting A major part of the novel breath, eyes, memory highlights the theme of parenting. In fact, Sophie’s entire experience is understood within the framework of parenthood (Danticat 40). Her trip from Haiti to New York, her experiences as a mothe r, and her trip back to Haiti highlight her quest and experiences in understanding parenthood. Raised without a mother, the theme of parenting manifests in Sophie’s life during the earlier chapters of the novel when Martine (a childless mother) invites Sophie (a motherless child) to live with her in the US. Parenthood is at the center of this invitation because Sophie is curious to learn the history and life of a mother that she never knew. Similarly, Martine is desperate to unite with her daughter. All along, Sophie’s grandmother raised her until she was 12. Everything that she knew before she joined her mother was because of the parental care she received from her grandmother in Haiti. Later sections of the novel revolve around Martine’s parenting skills, which eventually form a rift with her daughter. For instance, the virginity test is a form of parental skill Martine inherited from her past as a Haitian girl. She passes this practice down to her daughter bu t Sophie is not receptive to it.Advertising We will write a custom essay sample on Breath, Eyes, Memory by Edwidge Danticat specifically for you for only $16.05 $11/page Learn More It is from this understanding that a rift is created between Sophie and her mother. This sentiment prompts her trip back to Haiti where she goes to seek her grandmother’s counsel. The entire narration manifests the need for good parenting. Conclusion The themes of immigration, parenting and love feature prominently in breath, eyes, memory because they are used to explain the lives of the main characters. These themes represent real-life situations affecting people in the society, and almost concisely, they summarize the fabric of our social relationships. For instance, love and parenting are core foundations of family life, while family life is the core of the society. Based on this understanding, the themes discussed above are core to the understanding of the novel breath , eyes, memory and a mirror of the society. Danticat, Edwidge. Breath, Eyes, Memory. New York: Vintage Books, 1998. Print.

Groups, We All Participate in Them †Pyschology Essay

Groups, We All Participate in Them – Pyschology Essay Free Online Research Papers Groups, We All Participate in Them Pyschology Class Essay Everyone at some point has or will be in a group of some type. Your basketball team, the cub scouts, being a college student, being an employee, and even your own family are examples of groups. Some groups are good and some are bad. An example of a being apart of a good group is being a law abiding citizen. On the contrary, an example of a bad group would be being an inmate in a penitentiary. Your family group can be both good and bad. But, is it really the group that is bad or good, or is it the actions of the group that decides? One can argue that the single most important aspect of a group is their communication. No matter how good a group and their intentions are if the communication is bad the group will overall be a bad group. Think of your job and your co-workers is vital to produce a successful business. â€Å"The widespread use of decision-making teams in American businesses suggests that organizational leaders believe that groups generally will perform better than individuals when solving problems and making decisions† (Propp, 1). If you and your co-workers are trying to solve a problem or just simple communicate with one another and you both have different views and beliefs it is very hard to make a good group if neither of you are willing to budge. The Catholic Church is the perfect example. It is seen as a good group, but as times have changed many views have changed as well. The older Catholics might not agree with a lot of the newer changes, but because the younger Catholics are able to communicate well with their elders the church is seen as a good group. Communication will make or break any group during problem solving. Bruce Tuckman and Aubrey Fisher both have their models on how a group operates in problem solving. Both Tuchman’s and Fisher’s models seemed too simple for a design of how a group operates in problem solving for one man. Marshall Scott Poole felt that there was something more to problem solving. Moving on this feeling he developed his multiple-sequence model. He believed that he had an answer to how a group works in problem solving. He believed that a group develops in problem solving on three different tracks that work together as one. So, did Poole have the right answer? What made his model different from prior models? He felt that his three tracks were much more complex than what Tuckman and Fisher had believed. TASK â€Å"The process of drawing together ideas from individual group members into one list serves important functions across many group activities, including problem solving, decision making, negotiation, planning, and innovation† (Jackson, 1). Poole believed that groups worked on ways to complete their tasks by presenting problems and create possible solutions during their initial discussions. Poole knew that there were many problems that could rise during this part of problem solving. â€Å"It is often difficult to coordinate input from several group participants especially as the group size increases† (Corbitt, 1). This problem can be simplified if every member of the group speaks only about the task at hand, does not interrupt other group members while they are speaking, and stay open minded to other group members’ ideas. If the group is able to discuss their task at hand and evaluate possible problems and solutions they will be able to work together on the same page on their task. â€Å"Hidden profiles exist when group members individually hold information favoring a low-quality decision but collectively hold information favoring a high-quality decision† (Cruz, 2). If everyone goes into the discussion pulling in different directions and having hidden agendas the task at had will not be completed. Task was the first track on Poole’s problem solving railroad. TOPIC If the group is able to come to an agreement on the task stage then the group will move forward to the topic stage. Here, groups are able to move from one topic to another and back again because they are now working together. Group members are now able to work together creating a main topic and various sub-topics. Members become very motivated towards their topics. â€Å"Motivated behaviors are the fundamental elements around which we construct a framework for thinking about group process† (Brett, 3). The motivated group members begin to rise to the top and are able to allow other members to create sub-topics, but are able to make sure that these sub-topics do not stray far from the main topic. These members help with allowing the group the ability to jump from topic to topic in the problem solving process. Poole felt that if a group is strong enough in the topic part of his problem solving model then they could move onto the next track of his problem solving railroad. RELATION As the task and topic trains are both heading towards the same destination there is a third train that is running side-by-side with them. The third track in Poole’s problem solving model (multiple-sequence model) is relation. Here, group members are concerned with relational problems and trying to solve any tensions and conflicts that are in the group. This stage requires patience and understanding. The group members put their trust in other members to the test. â€Å"A person’s trust is explained as a function of his or her tendency to trust† (Poole, 3). If a group member does not trust another group member then it creates some tension and conflict in the relation of the group. If the group is able to solve their relational problems then all three trains arrive at their destination: â€Å"The Problem Solved Station† (patient pending!). WHAT WAS POOLE THINKING!? Many researchers had previously come to the same conclusions on problem solving in groups. These researchers believed that the problem solving in a group goes in a certain sequence. There belief was that it was a sequence that worked like a set of dominos. The sequence was that one stage would follow another. They concluded that the sequence was simply 1,2,3,4,5. Poole did not think that it was that simple. Poole’s main problem with prior theories was that he believed that there were no stages, but that there were tracks that worked all together in problem solving for a group. He knew that could be set stages, but for the most part that all of the â€Å"stages† described by prior theorists were inner twined together a lot more than what was prior believed. He knew that there might be primary tensions during orientation, conflicts do arise, decisions will emerge, and good groups do end up reinforcing fellow group members like the models described by Tuckman and Fisher, but the tracks that a group take in problem solving is not always as predictable. He knew that every group was different and every group’s tracks or stages are different as well. Poole did not necessarily believe in conflict, but he saw these problems as minor break points. While Tuckman and Fisher provided different stages for each conflict that goes on during problem solving in groups, Poole believed that there would be moments that would disrupt the progress of the group and could possible cause the group to repeat earlier tracks rather than having a predetermined time and place for each conflict in problem solving in groups. â€Å"Normative, as opposed to informational influence, can have a detrimental effect on decision-making groups† (Hennignsen, 1). Poole believed that by using his tracks could create group members who influence a desire to make better decisions (informational influence) while other models would influence a group member to simple want to maintain harmony in the group or simple agree with everything the group decides because they are wanting the group members to like them (normative influence). Simple put, Poole did not believe that the pre-determined process of problem solving put forth by Tuckman and Fisher where correct. He believed that group members are affected by various social structures like group norms and peer pressure. Yet, in a some what of a contradiction to his own model, he believed that there may never be a set theory that can predict how a group will operate during their problem solving process. That is why he is very basic with having three tracks that could happen at anytime while being complex by saying that they could happen at anytime during a group’s problem solving process. Poole’s theory is very different compared to previously stated theories on problem solving in a group. CAN YOU QUESTION POOLE’S ATHORITY? 1. How does your problem solving process work in your groups? The next time that you are at work and you are presented with a problem that needs to be solved by you and your co0workers write down how you were able to work with or not work with your fellow employees at solving the problem. When put under pressure at work of an immediate deadline to solve a problem, you will be able to see that everything is not as simple and predetermined like Tuckman and Fisher believed. It may not end up exactly like Poole’s model, but it will be very close. 2. What role does communication play in problem solving in your groups? â€Å"There is less consensus, however, on the proper way to assess the role of communication† (Jarboe, 1). Many theorists have tried to determine the exact role that communication plays in problem solving. Some believe that it is the most important part, while others believe that leadership or group cohesiveness play the biggest role. Try to figure out how much communication plays into problem solving in your own groups. 3. Is it more important to have a set leader or just equally powerful group members when trying to solve a problem? A leader can provide a specific set of rules and give out specific jobs to each member. They can provide a final answer to a question. Equal power can allow every member the chance to have a voice and use their positives to help the group. Having equal power can cut down on tyrants and having members hold grudges because they feel that the leader is doing things wrong. 4. In what ways can you cut down on conflicts that arise when your group has to solve a problem with an immediate deadline? Try and think of anything that you can do to get a speedy and great answer to the problem. The key could very well be the small and simple things. If you can go into a situation where your group has an immediate deadline on solving a problem and you already have set up a couple of ways to help your group then your group and the answer it creates will be much better. Conflict is going to happen no matter what. The ones who can control and cut down on the conflict will be able to make things easier. 5. How do you judge the problems that you are presented in your groups? Which ones are hard and which ones are easy? Try to make a scale for you to help judge which problems in your groups are the hardest and will require the most time spent on them. If you are able to take on the harder problems first then it should make it easier when you transfer to the easier problems. Everyone’s scale of hardest to easiest problems is going to be different. Take into account that your easy may be someone’s hard. If you are able to understand this it will help expose each member’s strengths and weaknesses. Your group will be able to attack the problems head on with the best from each member. If you wanted to continue with your study on group problem solving there are a couple of places you could look. If you want to see how groups go about making decisions under extreme distress then you could read The Structure of Communication Behavior in Simulated and Actual Crisis Negotiations by Paul J. Taylor and Ian Donald. It explains some of the harder situations that involve group problem solving. Do you want to learn how to better control conflict in group problem solving? If so, read Do Conflict Management Styles Affect Group Decision Making? by Tim Kuhn and Marshall Scott Poole. Every wonder if it is better to have a group attack a problem or individuals? Charles Pavitt addresses the debate in Colloquy: Do Interacting Groups Perform Better Than Aggregates of Individuals? Why We Have to be Reductionists About Group Memory. The paper talks about how groups are able to help remember things that will help later on when they have to solve a problem. What is the most common group ? Family. Keith Sanford wrote Expectancies and Communication behavior in marriage: Distinguishing proximal-level effects from distal-level effects which talks about how married couple will problem solve in an entirely different way than any other group. The world is evolving as we speak. The world of tomorrow is going to involve a lot of technology. If you were wanting to know how to relate problem solving in technology Eun-Ju Lee and Clifford Nass wrote Experimental Tests of Normative Group Influence and Representation Effects in Computer-Mediate Communication When Interacting Via Computers Differs From Interacting With Computers. All of these suggested readings will aid with your quest to gain more knowledge on how problem solving in groups works. Research Papers on Groups, We All Participate in Them - Pyschology EssayThe Relationship Between Delinquency and Drug UseResearch Process Part OneWhere Wild and West MeetEffects of Television Violence on ChildrenMoral and Ethical Issues in Hiring New EmployeesQuebec and CanadaThe Effects of Illegal ImmigrationIncorporating Risk and Uncertainty Factor in CapitalStandardized Testing19 Century Society: A Deeply Divided Era

Technological advances that have affected health care delivery in Essay

Technological advances that have affected health care delivery in America - Essay Example A survey that was conducted by r/j Blendon in 2001 indicated that majority of the US population is not satisfied with the healthcare systems in the country. Moreover, they are dissatisfied with the private insurances in the country. The survey is conducted every five years in order to understand the reaction of the American population on issues related to health. One of the major causes of a decrease in public confidence on the health care systems is lack of technological development (Kabene, 2010). On the other hand, some people feel that the recent technology is being used to collect data unethically. This is data that can be used against the patients. The second historical perspective is related to American capitalism. Although the healthcare system is mainly concerned with provision of high quality and affordable care to the members of the public, it is mainly run by a business model which is profit oriented. Technology advancement has enhanced the level of capitalism in the health care system (King, 2003). For instance, through the use of technology, it has become more efficient and faster to provide high-quality services to the people. This has made the healthcare organization to become more profitable. One of the major technological advancement that has affected health care delivery in United States is the evolution of Smartphone. Although Smartphone is not related to health care, it has played a significant role in enabling the doctors to access patient information. In addition, the development of different applications related to health has improved the well being of the people. In an example, a Checkup Experience application which was developed by Masimo Company has enabled people to check their pulse rates. The application comes with a specific device which can be easily placed on the finder and read the oxygen, pulse rate, and perfusion rate of the person. Such

Professional Management Skills Assesment. cASE ANALYSIS Essay

Professional Management Skills Assesment. cASE ANALYSIS - Essay Example With David Neeleman started out his career in the airline industry, he had learned and had become accustomed to the ins and outs of operating an airline. While spending time with airlines such as Southwest after his first entrepreneurial venture, Neeleman saw the immense opportunity in the industry in the form of the growing dissatisfaction in the market due to poor service and high fares. Coupled with the information that was publicly available regarding the operations related to the industry, he came to justify the dissatisfaction as an opportunity by looking at its market potential. Neeleman then saw that there was sufficient demand to back up this opportunity. The vision of an airline with high quality service and low fares was not entirely what Jet Blue was about when Neeleman conceived the idea in his mind. It was built on the Southwest model, only that with the use of technology it would aim to differentiate itself, as well as its way of doing things as a player in the airline industry. According to the founder, this new airline would â€Å"leverage technology for safety and efficiency and with a commitment to people. (Gittell & O’Reilly, 2001, p.3)† The overall market for the airlines most especially in New York City as stated in the case, experienced dissatisfaction given the current level of services at the price level in which they are offered. Due to this, an enormous opportunity for an airline that could offer lower costs for air travel with high quality service awaited as a promise and reward. This one Neeleman had observed and taken advantage of using of information technology as one of the differentiating factors. Jet Blue’s marketing was strategic in a way that it aimed to support the goal of the company to become a different sort of player in the airline industry. For one, in line with Neeleman’s vision which was to provide high quality service at affordable fares while improving the experience of

Traits That a Good Teacher Should Possess Essay Example for Free

Traits That a Good Teacher Should Possess Essay The word good can have quite a few interpretations. For the purpose of this essay, it is assumed that good here means, effective that is, a teacher can impart his knowledge and whatever other value it is his responsibility to spread to his charges. It is also assumed that the teacher under discussion is one who teaches secondary school. First of all, a teacher must know his profession thoroughly. He must know his subject beyond the point he intends to teach. He needs to be an expert. For example, if he is teaching literature, he should know all the plays of Shakespeare or at least most of them, rather than just the play he is teaching. He can then make cross references and answer all the questions that arise in the minds of his students. Knowing his subject is of no use if he does not know how, or not bother to, to teach it most effectively to his students. Though it is true that in a secondary school, student should take the responsibility for their own learning, it would be dull and boring to learn from a teacher who does not present his subject in an interesting manner. It is the teachers duty to promote love of his subject among his students. This he will do first by loving the subject himself. His enthusiasm and love for his subject will catch on with his students and if they learn to love a subject they can learn it better. A bad teacher, usually by his lack of enthusiasm and interest, will cause his subject to be hated. it is fir such reason that a teacher should adopt good teaching methods instead of resorting to easier methods like just reading out of textbook. Every teacher must be genuinely interested in his job. He must feel that it is his calling to develop young minds, and through them, to actually shape the destiny of the country and the world. He must be dedicated and caring at least to the point that it matters to him that his students learn all that they need to know. Over and above teaching his subject, a teacher has the responsibility to develop characters of the students in his life. Quite often, a teacher is a students role model. All of us who go through school, hero worship at least one teacher whom we would like to emulate. A teacher should always be aware of this responsibility. If by chance he were to show flexibility in ethics and morals, he is more or less giving a sanction to his charges that it is acceptable for them to e like that too. This applies to simple vices like smoking and more serious errors where the teacher fails to draw a clear line between good and bad behaviour. From this time immemorial, teachers have been the pillars of society. Staying in the background, at least for most of the time, they have been indirectly responsible for the advancement of the race. Often, it is their lot to go unnoticed. But time and again, all great men and women have been unsparing in their praise of teachers. this is by far their greatest responsibility: teachers are the ones who guarantee that our tomorrows will be as hood as, id not better than, our todays. By shaping characters they ensure that the world continues to be.

Ethics, Business, and the Human Genome Project :: Genetics DNA Genes Science Essays

Ethics, Business, and the Human Genome Project The Human Genome Project began in 1990, as part of a collaborative movement by the scientific community to better understand our own genetic makeup. The U.S Department of Energy and the National Institutes of Health coordinate this original 15-year plan, which are parts of the National Human Genome Research Institute. The major goals cited by these institutes is as follows: Identify all the estimated 100,000 genes in the human genome. Map the three billion chemical bases that make up human DNA. Store this mapped information in databases worldwide. Develop even better tools for sequencing and analysis. Address the many ethical, legal and social issues that come with this project. The debate over the importance of a Human Genome Project can be cleared up by looking at what the human genome actually is, and why knowing its DNA sequence can be beneficial to the scientific and the human community. The human genome is made up of about three billion base pairs, which contain about 100,000 genes. The 100,000 genes in the 46 human chromosomes only account for a small total of the DNA in our genome. Approximately 10 percent of our DNA make up these genes in our genome, these genes are what is actually encoded for and used by our body to make vital proteins needed for everyday life. The remaining 90 percent of our three billion base pairs are repeated sequences between genes that do not encode for any particular product. These repeated sequences account for the reason why 99 percent of any humans DNA is identical to another human's (1). With this knowledge many people believe it is not worth the time or money to sequence the entire human genome when only a small percen t is used to encode for proteins. However, by sequencing the whole genome researchers will no longer have to do a needle in the haystack type of search for small genes, like the one found on chromosome four that is responsible for Huntington's disease (4). Also, knowing the complete human DNA sequence will allow scientists to determine the role and importance of the repeated DNA, non-protein encoding, sequences in our body. The Human Genome Project has brought to light the importance of single nucleotide polymorphism's (SNPs), which occur every 100 to 300 bases (1). A single nucleotide variation in the DNA sequence can have a major impact on how humans react to bacteria, viruses and drug therapy.

Conflict: Father

Parent child relationship has never been easy. We can easily realize it in the texts that we have been reading. I preferred â€Å"mother† by Grace Paley and â€Å"Father† by Yasushi Inouye. The conflict in the relationship between parent and children is not very clear in those texts, but it is present. What really captured my attention was how in both texts this conflict was resolved by the death of the parents. I also liked how both authors painted the caring of a parent for his child. I think that both texts have a valuable lesson: that we should not take thing for granted. The conflict in the relationship between parent and child in â€Å"mother† is the most common one we come upon in our world today. Kids often mistake their parent’s advice for annoying scolding that is not important. In â€Å"Mother† the story starts with a girl having a flashback about her mother; which is caused by a song that she heard in the radio. â€Å"Oh I long to see My Mother in the Doorway† says the song. She had many other memories with her mother of course but she particularly remembers her mom standing in the doorway, educating her. â€Å"If you come home at 4 A. M. when you’re seventeen, what time will you come home when you’re twenty? † Of course at that time she was still young and only taught about the present and the fun part of life, and felt like her mother was being annoying with all her scolding and complaints. She barely listened to what her mother had to say, still doing whatever she felt like doing. She didn’t value the lessons her mother was trying to teach her. I also feel that because her mother was always trying to educate her she attached herself to her dad who seemed more tolerant than her mother. It shows when she evokes her father in her memory of her mother urging her to go to sleep instead of staying in front of the TV. â€Å"Go to sleep for godsakes, you damn fool, you and your communist ideas. We saw them already, Papa and me, in 1905. † The conflict in â€Å"Father† on the other hand is different. Whereas I â€Å"Mother† you can deduct that the mother of the narrator is acting the way she is because she loves her child, you cannot say the same for the narrator’s father in â€Å"Father†. You can at first realize the lack of affection in the relationship between the father and his son when the father takes his son’s hands into his on his death bed. Since father had never done anything like that before, I could not understand what he wanted. † This just shows that there has never, not even once been a demonstration of affection between his father and him. The conflicts in both texts get resolved by death. In both text the nar rators realize how much their parent loved and cared about them. In â€Å"mother† the narrator wishes she could see her mother in every doorway, ready to scold her or teach her a new lesson. She now realizes that her mother her mother did everything she did because she loved her. It is only now that she understands the troubles, the worries, and sadness that she brought to her mother when she was younger. The fact that she remembers it and wishes to see her mother in the doorway â€Å"I wish I could see her in the doorway†, shows in my opinion how much she regrets acting the way she did, how much she wishes her mom could be there to see that now she is grown and is behaving well, that she heard her every time she tried to teach her a lesson. In â€Å"Father† death also resolves the conflict in the relationship between the father and the son. In the text when the author’s father took his hands into his, he never really understood what it meant. â€Å"For some time after Father’s death this incident stayed in my mind, and I speculated about it like one obsessed. † It did not occur automatically to him that his father took his hand into his because he wanted to show him that he loved him. It is only when he reached about the age his father retired that he understood fully that his father loved him and that he was acting the way he did because he loved him. As he is getting closer to death he realizes that his father was always so cynical because he knew he was dying from cancer, and wanted to protect them from death. â€Å"I also became aware that one of the roles father performed in his lifetime was to shield me from death. † I also think that just like in â€Å"mother† the narrator feels some sort of regret. He never understood his father and spent year trying to be his exact opposite: â€Å"From the time I was a student I consciously willed myself not to think like Father, not to behave like him†. Now that he understands why his father was acting the way he did he feels like he has been a little too harsh on him. One thing Liked about both texts was the love of both parents. They both died worrying about their children. The father taking his son’s hand in â€Å"Father† shows many worries: worry that he will die without his children knowing that he loves them, worry about how well they will do without him, worry about the image they will keep of him. In â€Å"Mother† the narrator’s mother shows her worry more clearly then the ather in â€Å"Father. † She keeps wondering about what her daughter will become when she is not there which makes us wonder if she has a fatal illness. â€Å"You never finish your lunch. You run around senselessly. What will become of you? Then she died† A lot of times we don’t realize the importance of what we have until we lose it. In this theory often applies to children and their parents. We teenagers o ften don’t value our parents, what we don’t realize is that we can’t live without them.

Greek Myths and English Language Essay

Abstract: Do you know â€Å"Achilles’ Heel†? It’s an allusion from Greek myths. Instances like this are not difficult to find in English language. They are terse and vivid because of Greek myths and legends behind them. Therefore, they enjoy popular use. But these words and phrases are peculiar to the native culture and language, they appear exotic to foreign learners. So let’s share some words and idioms which are relevant to Greek myths in view of knowing the ins and outs of them and understanding how to apply them. In the meanwhile, they can help you understand English history and English culture more thoroughly and deep and taste the wisdom and humor of the English people. Key words: relationship, Greek myths, English language, English idioms  Once the Republican supporter made comments on Clinton’s scandal, â€Å"A misbehaving president is regarded as a government’s Achilles heel and is expected to resign.†Ã‚  What is Achilles’ heel? If you don’t know it, you will not understand the meaning of the supporter’s comments. The idiom means the weak or vulnerable point of a person, organization and country, etc. which comes from Greek myths. The story is about Achilles, one of the Greek heroes in the Iliad. When he was a child, he was taken by his mother Thetis and dipped in the river Styx to make him invulnerable. The water washed every part of his body expect the heel in his mother’s hand. It was precisely at his vulnerable point that Achilles was later killed in Trojan battle. Greek mythology is a set of legends about the gods, heroes, natural events and universal history of Hellenic civilization. The myths of Greece mostly come from Hellenic literature such as Homer’s Iliad, Hesiod’s Theogony and Sophocles’ drama. From the Renaissance to now, Greek Myths is one of their required courses when the English people receive classical education. These stories and myths are so enjoyable that they impress themselves upon the English. Therefore the myths of Greece become the abundant supply of English language. Let’s take Europe for instance. Sometimes it is also called Europa, which originally comes from Greek Mythology. In it, Europa is a princess who is abducted and carried off by a white bull to Crete, the cradle of Hellenic civilization. And the bull is actually Zeus, king of the Gods. In the same way, Paris is a person’s name also from Greek myths. Paris is the son of the King of Troy. These two are place names. And the main characters from Greek mythology also appear in everyday speech. For instance, a huge or heroic task is said to herculean. This is in tribute to the Greek mythological hero Hercules. And when you talk about a book of maps, atlas will occur to you. It is named after Atlas, a titan who supported the heavens on his shoulders. Here’s one you are probably familiar with it. It’s the word promethean which describes a daringly creative or defiantly original act, because of the Titan Prometheus, who defied the wrath of Zeus and stole fire in order to benefit humankind. And another word you may have used before without realizing your debt to Greek mythology. The word panic comes from Pan, the God of shepherds. Pan was always considered to be the cause of the sudden fear especially in lonely places. That’s why it’s called panic. Then more attention will be paid to the relationship between Greek myths and English idioms. Idioms consist of set phrases and short sentences, which are loaded with the native cultures and ideas. Therefore, there are a great deal of idioms are relevant to the myths of Greece. And these idioms are not easy to understand from its literal meanings, for example, Greek gift. Does it mean a gift made in Greece? Of course not, it symbolizes a dangerous gift. But as they are colourful, blunt, expressive and impressive, they form an important part of the English vocabulary and are now used in different situations. So I will share some of them with you in view of giving you the background of them. As defined by famous psychologist Sigmund Freud, Oedipus complex is the unconscious desire of a young child for sexual intercourse with the parent of the opposite sex, especially between boys and their mothers. The source of this complex is from the Greek legend of King Oedipus. Oedipus was the son of King Laius of Thebes, a city in Greece. There was a Apollo’s oracle predicted that he would killed his father and marry his mother. So when he was born his father Laius bound his feet together and had exposed him on a lonely mountaintop where it must soon starve. Then the poor infant was rescued by a shepherd and raised by Polybus, King of Corinth. And he was called Oedipus. Years later, Oedipus, too, like Laius, thought to make it impossible for the oracle to come true and resolved never to see Polybus. But on his journey he unwittingly killed King Laius with whom he quarreled. He arrived at Thebes shortly thereafter and saved the city from the ravages of the Sphinx. He was proclaimed king in Laius’ stead, and he took the dead king’s widow, Jocasta, as his own wife. After several years a terrible plague struck Thebes. The Apollo declared that the plague would be stayed upon one condition: whoever had murdered King Laius must be punished. In the course of his investigation, Oedipus discovered that he himself was the killer and that Laius had been his real father. Finally he couldn’t act against the decrees of fate. In his despair at this discovery, Oedipus blinded himself. Girls have a similar sexual desire for the father which is repressed in analogous fashion and is called Electra complex. It also comes from Greek mythology. Electra is the daughter of Agamemnon, the king who led the Greeks against Troy in the Trojan War. To obtain favorable winds for the Greek fleet sailing to Troy, Agamemnon sacrificed his daughter Iphigenia to the goddess Artemis and so came under a curse. After he returned home victorious, he was murdered by his wife, Clytemnestra, and her lover. To avenge his father’s death, Electra helped her brother kill their mother and her lover. The allusion also comes from the Greek legend of King Oedipus. The Sphinx is winged monster having the head and breasts of a woman and body of a lion. She lay in wait for the wayfarers along the roads to Thebes and whoever she seized she put a riddle to, telling him if he could answer it, she would let him go. No one could, and the horrible creature devoured man after man until the city was in a state of siege. And at that time, Oedipus heard what was happening in Thebes in his lonely wanderings. He was a homeless, friendless man to whom life meant little and he determined to seek the Sphinx out and try to solve the riddle. â€Å"What creature,† the Sphinx asked him, â€Å"goes on four feet in the morning, on two at noonday, on three in the evening?† â€Å"Man,† answered Oedipus. â€Å"In childhood he creeps on hands and feet; in manhood he walks erect; in old age he helps himself with a staff.† It was the right answer. The Sphinx, inexplicable, but most fortunately, killed herself. The Thebans were saved. It is so called Sphinx’s riddle which means difficult problems. And Sphinx is also used to describe an enigmatic person. The following are a few examples in actual uses.

buy custom After-Action Report essay

buy custom After-Action Report essay Post Event Evaluation of How the Organizations IT Staff Responded to the Attack Describe the Nature of the Incident Spoofing attack enabled the employee to pretend to be the real user of the human resource system. In this spoofing attack, the employee created a misleading context, in order to make an inappropriate security relevant decision (Khosrowpour, 2002). The employee did this by spoofing an IP address, in order to eavesdrop on the network. The spoofing attack was used by the employee to pretend that he was the legitimate user of the human resource system to change his payroll details of his salary. Khosrowpour (2002) noted that the attacker in this form of attack intercepted and deliberately identified where the data was stored and modified. As a result, the employee made changes and received two paychecks with the new amount. The prime goal of the spoofing attack was to establish a connection that allowed the employee to gain root access to the host and to create a backdoor entry path into the organizations human resource system (Paquet, 2009). Through IP spoofing, the attacker gained unauthorized access to the human resource system and sent messages to the system with an IP address that indicated the message was coming from a trusted host. Identify Who Needs to be Notified Based on the Type and Severity of the Incident The chief information officer is the right person to be notified of the incident. This is because the network security of the company had been compromised two times, and this called for the senior management to demand a risk assessment and management report. The chief information officer should write a report geared towards finding out the possible areas, which had security holes allowing the employee to enter or interfere with the companys human resource system. The chief information officer should be notified, because the network security is a dominant concern amid information technology professionals and senior management of the organization. The chief information officer and the network administrator must include a stipulation for examining the network periodically to review its vulnerabilities. Outline How the Incident Could be Contained To address challenges of the attack, Das, Kant Zhang (2012) proposed an efficient and securekey management framework (SEKM) for distributed environments. SKEM will enable the network administrator to build a public key infrastructure (PKI) by means of applying an underlying multicast server group and secret sharing scheme. In a secure and efficient key management framework, the server group creates the view of certification authority (CA) and provides the certificate update services for all nodes, including servers (Das, Kant Zhang, 2012). In order to solve the spoofing attack problem, the management should introduce the concept of public key cryptography. This will enable each person to get a pair of keys; public and private ones. Through this, need for a sender and receiver to share the secret information is eliminated. The organization can implement IEEE 802.11 which has been designed with help of extremely limited management capabilities, using up to four static, long-term, key, shared by all the stations on the LAN (Das, Kant Zhang, 2012). This design will make it difficult for the attacker to revoke access fully from previously authorized hosts. In this context, a host should be revoked when it is no longer associated with the access network point. More importantly, it should be revoked, when it can no longer decrypt and eavesdrop traffic generated by other hosts in the local area network. Discuss How the Factor that Caused the Incident Could be Removed To remove the spoofing attack, the organization should move the network security and its risk assessment from the initial functional concern to a core part of the overall business trategy of the firm. Jones Ashenden (2005) say that the companys local area network presents a substantial risk because it does not address the wider issues of protecting information in the environments through which it flows across the information network (p. 9). Among the network security threats that the organization faces, there are trapping attacks, monitoring activities, intrusions attacks, identification, authentication, access control, availability, privacy, integrity, accountability and non-repudiation. Describe How the System Could be Restored to Normal Business Practice. Human resource systems performance parameters are mainly set to an acceptable compromise between security and usability. Cole (2011) says that the post attack step is to restore the compromised system to its original state. The first step is to remove files that were used in the penetration testing process. Secondly, the administrator revert any network setting changes to their original values. Cole (2011) says that in the process, network cards in promiscuous mode or ARP poisoning from sniffing needs to be corrected. Finally, the registry setting or any other system configuration that were changed during the attack process should be fixed (Cole, 2011). Explain How the System Could be Verified as Operational After the system is restored, it is necessary to ascertain that the system is operational. Cole (2011) says that the operation of the human resource system can be verified by developing a detailed test plan that provides for complete test coverage of the system. The network management and system administrator should establish an orderly schedule of events. The team should determine the expected output and perform a test run against the anticipated outputs. Cole (2011) says that the verification process should be done against a written record of test inputs. During the process, the team must exercise system limits and abnormal inputs. Perform a Follow-up of the Post Event Evaluation Identify Areas that Were not Addressed by the IT Staffs Response to the Incident The Information technology staff has not addressed the network security threats, which include the basic implementations done by organizations, in order to achieve some level of security to their systems. Some of this network security threats include basic integrity and confidentiality attacks. Fung (2004) says that confidentiality and integrity security technologies ensure that the content of a message is not visible to persons other than the intended or authorized recipients. There are some security technologies which provide competitive advantages to the organization. Security technologies have evolved from being basic, enhanced to integrated technologies (Fung, 2004). An example of enhanced security technology which provides competitive advantage is a digital signature which is used for implementing the source non-repudiation, as digital signature is built on the top of hashing algorithms used mostly for implementing confidentiality (Fung, 2004). Integrity and confidentiality ens ures that the organization is assured that its information is safe. Other Attacks Mentioned in the Scenario That Were not Noticed by the Organization Password attack occurred, but it was not mentioned in the scenario. Paquet (2009) says that password attacks can be implemented using several methods, including brute-force attack, Trojan horse programs, key loggers and packet sniffers. The employee used password attack to gain access to the human resource system. Usually, password attacks refer to repeated attempts of identifying password, user account, or both (Paquet, 2009). It is necessary to note that, since the human resource system had sufficient privileges, the employee created a back door for the future access, without concerns for any password and status changes to the compromised user account. Through password attack, the employee was able tto lower the salaries of the president of the company and several other employees, and then to include the salary difference in his own paycheck. Describe the Nature of the Attacks not Noticed by the Organization Integrity attack occurred in the organization. Integrity violations can occur when the employee changes salaries of the president of the company and several other employees, and then include the salary difference in his own paycheck without proper authorization. Paquet (2009) says that the attacker has permission to write the sensitive data and change or delete it. In case of this organization, the HR department did not detect such changes, until it was too late, when the changes had already resulted in tangible loss. This is the most serious threat to the organization because of difficulty while detecting changes, and possible cascading results of late detection (Paquet, 2009). How these Additional Attacks Can be Prevented in the Future The organization should use authentication security technologies to counter password and integrity attacks. Authentication ensures that only users who have permission can access particular information (Fung, 2004). This type of security technology uses Encapsulating Security Payload (ESP), packet filtering techniques, and user id and password authentication methods. Fung (2004) says that message integrity technologies also provide competitive advantage, because they ensure that data from sender to the receiver is the same. A message integrity technology maintains the originality of the information on transit. Message integrity technologies encompass protocols, such as generic routing encapsulation (GRE), point-to-point tunneling protocol and Layer 2 VPNs such as FR and ATM VPNS. The recent trend is that instead of simply responding once an organizations network security has been compromised, companies should move towards the real time proactive monitoring of its operations by using tools of intrusion detection that can assist administrators in spot unusual or illegal activities on the network (Evans, 2003). This means that the firm is able to detect activities that would have gone off unnoticed, which can be easily detected when they are in progress, and be easily blocked or their actions reported to security enterprise administrators. The extranets have to ensure that security will not be compromised. In the company, the extranet security ensures that passwords and identities are encrypted, while being sent through the network. Recovery Procedure to Restore the Computer Systems Restoring the system to its original condition is the most significant step that should be taken by the organization. Restoration means removing programs the employee placed on the computer and cleaning up any altered data files. To restore the system, there are three main options which include repair during continued operation, restoration from backup tapes and reinstallation from the original installation media (Bidgoli, 2004). Bidgoli (2004) further says that the organization should reinstall the human resource system and other program files from the last clean back tape. While restoring the human resource system to its original state, it is necessary to know when the attack begins. To achieve this, the restoration of program files from backup tapes requires the system to be taken offline at least temporarily. In conclusion, the management of the company should realize that globalization brings about tremendous opportunities, and therefore, the need for competitive security technologies should be implemented, in order to counter security threats. The firms network security should start with an evaluation of the known risks, threats, and then the associated impacts. Security professionals must understand, implement and operate effectively enhanced security technologies to ensure the business continuity in the firm. Buy custom After-Action Report essay