Pride that Leads to Tragedy

Pride can be a very pernicious quality in a person. This theme is displayed very well by Creon, a character in the book Antigone and also the tragic hero, whose pride led him to a tragic downfall. Sophocles, the author of this Greek drama, encompasses tragedy in most of his plays. As I mentioned before, a bad quality of Creon is his obstinacy. This got in the way of a lot of things, including his family. Creon, the king of Thebes, believed at one point that State comes before family. The reason he said that statement is because he wanted to prevent anarchy and if he were to let only his family break the law, then all the townspeople would get very angry. Letting his condescension blind him, Creon ignored the warning of Tiresias, a blind prophet, and his son Haemon. Following this rebuff, Creon gets a wake-up call from the gods and loses most of his family. Although he went through this cataclysm, he did it with the seemliness he had not previously displayed. He acted so noble because the hardships he went through changed his principles. Creon realizes that family should come before state and that he did not need to let his pride get in the way of his duties as a part of his family. The audience, everyone who read the book in Mrs. Pink s class, at one point probably felt sorry for Creon. He had to deal with so many different adversities that he went from a bad guy persona to a person that deserved sympathy. Even though we may have felt sorry for Creon at one time, he did not deserve too much pity because he could have changed his mind at one point. He had many opportunities to change his mind, including when he talked to Tiresisas, as I stated before. If Creon had rethought his arrogance, his fate wouldn t have been half as bad as it turned out to be. In closing, Creon was an arrogant, conceited person until he experienced the loss of his family. After he lost them, he was changed in every way that he could be, emotionally. Creon was the tragic hero because of the fact that his pride led him to a tragic downfall.

Demand and Supply for Money

DEMAND AND SUPPLY FOR MONEY – MACROECONOMICS REPORT DEMAND FOR MONEY * What is Demand for Money? The demand for money represents the desire of households and businesses to hold assets in a form that can be easily exchanged for goods and services. Spendability, or liquidity, is the key aspect of money that distinguishes it from other types of assets. For this reason, the demand for money is sometimes called the demand for liquidity. * Many factors influence our total demand for money balances. The four main factors are 1. the level of prices 2. the level of interest rates . the level of real national output (real GDP) 4. the pace of financial innovation * Three Reasons or Motives for a Large Demand of Money Economists have identified three primary motives for holding money: †¢ To settle transactions, since money is the medium of exchange. †¢ As a precautionary store of liquidity, in the event of unexpected need. †¢ To reduce the riskiness of a portfolio of assets by including some money in the portfolio, since the value of money is very stable compared with that of stocks, bonds, or real estate. * Transaction Motives Money is an essential element in order to have a purchasing power. * This is money used for the purchase of goods and services. The transactions demand for money is positively related to real incomes and inflation. As an individual's income rises or as prices in the shops increase, he will have to hold more cash to carry out his everyday transactions. The quantity of nominal money demand is therefore proportional to the price level in the economy. * The  transactions motive  for demanding money arises from the fact that most transactions involve an exchange of money.Because it is necessary to have money available for transactions, money will be demanded. The total number of transactions made in an economy tends to increase over time as income rises. Hence, as income or GDP rises, the  transactions demand  for money also rises. * The transactions motive for money demand results from the need for liquidity for day-to-day transactions in the near future. This need arises when income is received only occasionally (say once per month) in discrete amounts but expenditures occur continuously. Example: Households and firms hold money or demand money in order to conduct regular payments of goods and services they purchase from the market. * The households and firms hold money to pay for daily expenses such as food, clothing, transportation, and rentals. * In other words, people hold money for transactions purposes – hence the motive is for transaction. * Precautionary Motive * This is money held to cover unexpected  items of expenditure. As with the transactions demand for money, it is positively correlated with real incomes and inflation. People often demand money as a  precaution  against an uncertain future. Unexpected expenses, such as medical or car repair bills, often require  immediat e payment. The need to have money available in such situations is referred to as the  precautionary motive  for demanding money * People need to be financially secure in the future, especially in financing or paying for unforeseen events. * Example: Money is used for emergency expenses such as hospitalization, accidents, contingency funds for unidentified household or business expenses. * Speculative Motives This is money not held for transaction purposes but in place of other financial assets, usually because they are expected to fall in price. * People want to earn the highest possible income from their different investments. Hence, they hold money to invest into assets or business prospects that have a promising steady flow of returns or income. * It depends on the decisions of households and firms to hold other assets that are liquid and free risks of depreciation in terms of money. * People hold money to make profits or avoid possible losses when the opportunity in the fina ncial market comes. Example: If the bank interest rate is low, the amount of money held for speculative purposes is higher while it is lower if the interest rate is high since the interest rate is the ‘opportunity cost’ of holding cash. QUANTITY THEORY OF MONEY (QTM) It states that the level of prices in the economy is dependent on the amount or level of money circulating in the economy. * The level of prices in the economy is basically the inflation rate. It is the rate at which prices are increasing. * Inflation – refers to the increase in the general level of prices and therefore is the result of too much money circulating in the economy.What would happen if there is an increase in the supply of or too much money circulating in the economy? * There is a possibility that every actor in the economy has so much money and it is natural for them to purchase goods or even services in the economy. An increase in the demand of goods and services without accompanying i ncrease in the available supply will cause the equilibrium price in the economy increase. This premise can be clearly explained if we discuss the quantity theory of money. The Quantity Theory of Money can be expressed by the equation: MV=PYWhere: M= quantity of money or money supply V= velocity of money P= price level Y= aggregate output * PY can be interpreted as the market value of output of the economy or the national income or the GNP. * PY refers to the total income or expenditure for the economy’s final goods. Since it is the value of all final goods and services produced in the economy. It is simply regarded as the nation’s GDP. * From the given equation, velocity of money or V can be expressed as the ration of GNP and money supply. Let us take a look at this equation: V=PYM= GNPM For instance, GNP is equal to P300 B while the amount of money supply in the economy is P50 B then the velocity of money is equal to 6. V= GNPM= 30050=6 * This means that a peso was us ed six times that year to purchase goods and services. * It also being interpreted as the speed of money per year in the circulation. * The QTM assumes that the velocity of money (V) and aggregate output (Y) are fixed, or at least for simplicity purposes, we assume that these factors do not change (or do not change much) MV=PY As a result of the assumptions we made, changes in prices level (or the inflation level in the economy) is directly proportional to changes in money supply * It means that a percentage increase in the money supply will cause an equal percentage increase in the price level or will lead to inflation. THE COMPONENTS OF THE MONETARY STOCK There is a wide range of financial assets in any economy. * Money in the economy is not confined to be circulating paper, bills and coins and the reserved money in the vaults of banks. * Money has many forms which comprises the monetary stock or the money supply in the economy.However, the question is, which part of these is call ed as or being considered as money? * The following table shows the classification of the monetary stock or the money supply. Definition of Money| Components| M1| Currency + Checking Deposits + traveler’s Check + other checkable deposits such as NOW and ATS| M2| M1 + Savings and Small Denomination Time Deposits + Money – Market Mutual Funds| M3| M2 + Large Denomination time Deposits + Repurchase Agreements| L| M3 + liquid assets such as securities (i. e. Treasury Bills), Bankers? Acceptances, Commercial Paper| M1 comprises claims that are liquid. This refers to claims that can be used directly, instantly, and without restrictions to make payments. It consists of items used as medium of exchange. * M2 includes in addition, claims that are not instantly liquid, those that may require notice to depository institution or banks. * M3 includes items that are held primarily by large corporations and wealthy individuals. * L consists of several liquid assets that are close sub stitutes for money. MAIN FEATURES OF THE COMPONENTS OF THE MONETARY STOCK Liquid Low interest earnings Less Liquid High interest earnings It should be noted that from M1 to L, the monetary stock is becoming liquid. M1 is directly used for transactions and L is less liquid and cannot be directly used for transactions purposes. * However, the trade-off is that if the individual hold more M1 than L, the individual is forgoing potential interest earnings from L. the L is being offered at a higher interest rate as compared to the M1. * In general, if you hold more M1, you are very liquid yet you earn little. On the other hand, if you hold more L, you find it very difficult to conduct day-to-day transactions yet you are earning much.Basic Concepts in Definitions * Currency * It refers to coins and bills (paper money) in circulation. * Checking Deposits * Accounts that grant a depositor the right to write checks to individuals, firms, or the government. This component is used in order to a void carrying large amount of money. * This particular component can be considered as money because checks are accepted as for of payments or exchange. * Traveler? s Check * It includes checks issued by non-banks such as American Express 8checks issued by banks are not checking deposits).It is usually used by travelers and tourists, since personal checks are not acceptable in other territories. Therefore, traveler? s check is generally accepted as payment in different territories. Negotiable Order of Withdrawals * A check is invented by thrift institutions as a way getting around the prohibitions of having checking accounts. It is almost same function as travelers check. * Automatic Transfers from Savings Accounts (ATS) * When deposit holders keep money in savings account, the bank automatically transfers from the savings account to the checking account when payment has to be made.This method is usually for bank to bank or institutional transactions. All commercial banks offer this service where savings account can be transferred to other forms of financial assets such as checks or current account (e. g. Land Bank ATS and Metro Bank ATS) * Savings Deposits * Deposits at banks that are not transferable by checks and are often recorded in a separate passbook or ATM (Automated Teller Machine) card kept by the depositor. * Time Deposits * These are the accounts in a bank which require certain maturity date. * Money Market Mutual Funds Interest-earning checkable deposits in financial intermediaries that raise funds by selling shares to individual savers and invest in short-term assets. In addition, these are built-in in all commercial banks such as the BPI Mutual Funds and PNB Mutual Funds * Repurchase Agreements * These are transactions in which bank borrows from a non-bank customer * The bank sells a security today and promise to buy it back at a fixed price tomorrow (that is why it is repurchase) * In that way, the bank gets to use the amount borrowed for a day * Liquid Assets These are assets that can be easily converted into cash such as stocks, cash on hand, cash in banks and accounts receivable- * Treasury Bills * Securities that are issued by the government that have certain maturity date. For instance, the Philippine Government treasury bills (such as the Centennial Treasury Bills). * Banker? s Acceptance * These are orders to pay specific amount at a specific time. This concept usually arises from future date and guaranteed by a bank that stamps it as accepted. * Commercial Paper * It refers to a liquid short term debt instrument issued by private corporations.

High School compared to middle school

When I got home I would eat something and relax for 1 hour and then I would start my homework around 6 pm. Most times, it would take my 15-20 minutes to finish my homework. If I had any projects or other work to do, it would extend my work time to about 1 hour. But that all changed once I got to high school. Once got to high school, would get home at 7 and as soon as I got home, I had tons of homework. Start my homework at 7:30 pm and if it is normal homework, then I am done at about 9 pm.If I have project or there work, have to work until 11 pm. And that is without AP human geography homework, which itself takes 1 hour per night. The second problem I have is band. Band in middle school is nothing compared to band in high school. When I was in middle school band, practiced for 30 minutes a day and that was enough for me to be good. After school practices were rare events and they lasted for about an hour when we had them. Once got to high school, even one hour of band practice a day isn't enough.And after school rehearsals are an almost everyday thing and each practice is a little more than one hour marching in the hot sun. And being at the Friday football games is mandatory. The games go from 7 pm to 1 0:30 pm and if it is an away game, then you don't get home until 12 midnight. And, in middle school concerts and contests were during the weekdays, but in high school you have to sacrifice your Saturdays to be at the competitions. And if you are not at the Ames or the contests in high school, then you get a detention.So, thinking that high school would be easy was a big mistake. Made this mistake and I am now paying the price. So, no matter what you do, don't make the mistake that made. Make sure you get prepare to have long days and lots of homework. And start preparing for having at most 7 hours of sleep on the wee stays. This is a medium compare-contrast because it is contrasting, but it is only contrasting it is not comparing anything as the same.

ASSIGNMENT WEEK 3 Essay Example | Topics and Well Written Essays - 500 words

ASSIGNMENT WEEK 3 - Essay Example Despite the fact that I am against the implementation of SOX in the private sector this does not mean that the government should not promote ethical behavior in the financial dealings of private corporations. There are other stakeholder groups other than investors that rely on the validity of financial reports to make decisions regarding private corporations. Three of those stakeholder groups are lenders, suppliers, and the employees. Class Discussion 1: Topic B To test the value of an academic education from a particular university I would use some other alternative methods that do not necessarily take into account the cost of acquiring the education. The cost of an education will vary by state or country, university, and career field among other factors. A simple way to test the value of a college education is by comparing the average salary of one school’s graduates vs. another school’s graduates. Another good metric to measure how effective a college education of a particular school is to measure the unemployment rate among the graduates of different colleges. Universities with low employment rates among their graduates are doing a good job of fulfilling the purpose of college which is to graduate to obtain a good job in the workplace.

Managing Budgets and Financial Plans Essay Example | Topics and Well Written Essays - 1250 words

Managing Budgets and Financial Plans - Essay Example II. Objectives that are important to Kitchens2Go: Ultimately, it appears that the Manager is concerned with the profitability and long term prosperity of the firm, so all of the objectives that are important to the Manager should be important internally as well. III. Measuring the Objectives: The objectives can be measured by the use of Statement of Financial Performance, cash flow analyses, analysis of cost of goods sold, expense analysis, etc. All of these will show how much revenue is being generated as well as how much the firm is spending. Ultimately, the Statement of Financial Performance shows whether or not a profit is being generated, and exactly how much profit, or the lack thereof. IV. Integration of the Objectives: These objectives could be integrated into budget and reporting systems by performing a given analysis as it relates to a specific department, as well as an overall analysis of the entire operation. It appears that the Bank Manager would like copies of Kitchens2Go's financial statements every year in order to monitor expenses, revenue, and profit or loss, so that a clear picture of the health of the firm can be examined. The most useful calculations that the bank can be doing on these statements are calculations of the cost of the goods sold, value of inventory on hand, labor

UK Company Law Shareholders and Directors Essay

UK Company Law Shareholders and Directors - Essay Example If S has began to take less active part in the management of the company, she can be paid less than the agreed amount. However, this should be done according to the laid down procedure. In her present state, she is entitled to be paid the agreed amount of money that is 30,000 Pounds. Paying her 10,000 is unjustified because in order to effect this, the directors must pass a special resolution requiring that: - (1) In absence of any express words in the articles requiring that a director who takes a less active role in the company shall be entitled a salary three times less of his / her monthly, she is entitled for the whole pay of 30,000 pounds. (2) In absence of any special resolution, which is passed at a general meeting o a company by a majority of 75% of members present and entitled to vote, the directive of the directors to the payroll staff to pay S 10,000 pounds is unjustified. In this case S can challenge the decision of the directors in a court of law if they adamantly refuse to pay her 30,000 pounds, which she is entitled to be paid till the meeting is convened, and resolution passed to this effect. First of all, the proposal has to be approved by the directions who make-up the board. The board shall decide the date and time of the general meeting and secretary will be authorized to convene the meeting. The directors will also approve the draft of notice, special resolution and explanatory statement. Secondly, the special resolution should be passed in the general meeting held on the appointed date. Thirdly, within thirty days of the passing of the resolution the company has to file a certified copy of the resolution. After the approval, the company should file printed copies of the articles with the registrar of companies within one month of the date of the receipt of approval. The company Act provides that, subject to the provisions of the Act and to the conditions contained in this

Globalization and Racism in Context of Australian Education Assignment

Globalization and Racism in Context of Australian Education - Assignment Example It may be subject to certain restrictions like the will of the host country to accept the foreign student or may be subject to various other privations like visa, passport, and funding for international studies. Globalization, on the other hand, transcends all borders and the concept of nation or state seemingly does not exist. Here the world is a single entity, comprising of a common ‘knowledge society’. Since globalization has been the result of a worldwide economic and commercial integration, (unlike the internationalization of education, that sees knowledge exchange at very high scholarly levels), it has been identified with transnational educational systems that are based on private entrepreneurial market-driven forces and related competition; and a resultant knowledge exchange that is commercial based (Teichler U and YaÄŸcÄ ±Ã‚  , 2009).Observing the current accelerated rate in globalization it is indeed necessary that the colleges and universities worldwide (in cluding Australia) come together and change their present curriculum to form an integrated educational system so that the concept of a singular ‘knowledge society’ becomes a reality. Globalization, an innovation of the 21st century, is a term that has â€Å"come from nowhere to be almost everywhere† (Giddens, 1999, 7). Globalization though mainly associated with the concept of a worldwide economic integration and a borderless market, its effect without any doubt â€Å"extends well beyond the economy...it transforms people, states, societies, cultures and civilizations† (Comeliau, 1997, 30). The effects of globalization are visible in three main areas, in context of any particular country.  

Miss Celie Assignment Example | Topics and Well Written Essays - 250 words

Miss Celie - Assignment Example Celie’s hardships forced her to learn others’ values and beliefs. Ms. Celie’s bank was filled with a poor self image. The banking concept did not work with Ms. Celie, especially because she was abused and taught by others around her. When Shug, Mr. Johnson’s lover, came into Ms. Celie’s life, she began to teach Ms. Celie differently. Shug respected Ms. Celie after being around her for awhile. The two became confidants and lovers. Shug taught Ms. Celie that she was worth something. This allowed Ms. Celie to blossom. She opened her own shop after leaving Mr. Johnson. Ms. Celie even contacted her sister and children after Shug showed her letters Mr. Johnson had kept from her. Ms. Celie came back after her stepfather’s death to inherit her rightful estate. None of these things would have been possible without Shug teaching her self confidence and esteem. Shug treated the pupil with respect and taught Ms. Celie in her own individual way. Paulo Frieire’s idea of respecting each individual student instead of using the banking model is admirable, but impractical. Not every one comes from a loving or nurturing home. Some like, Ms. Celie, have hard lives. Too many people, educators included, are like Mr. Johnson, Pa, and others who treated Ms. Celie cruelly. The banking concept is the best method to teach children now, but Frieires ideas cannot be applied effectively to all

Education Essay Example | Topics and Well Written Essays - 500 words - 29

Education - Essay Example The ratio of teachers to students is very unfair and the slow students needing specialized attention in classrooms find themselves with the greatest struggles (Vlachou, 87). We were around 60 children in one class with only one teacher who did not even know the names of all of us. In the private school were only twenty five and hence the teacher-student ratio was equal enabling the teachers to pay much closer attention to our education. This therefore means that increasing the number of teachers will bridge the existing gap hence enabling teachers to pay more attention to students (Nozaki, Luke & Openshaw 116). In terms of access to research and other educational material, institutions of education should seek institutional subscription which will then grant access to the materials to their students. As for the ratio of teachers to students, the state and federal government should put an effort to hire more teachers as the resources are available within each state. I struggled in my earlier educational years and these are the same struggles that most children in the public school system are undergoing to get quality education. If only I had gotten into a class with smaller number of students from the onset of my education, I would have performed much better and I would be in a better place or even in a better career than I am currently in. I would not have struggled so much with my education as a grown up as I have had to do. When I get quality education, I am bound to have more opportunities in life to choose from as I will be learned with various skills and increased knowledge within me. The higher the educational level I attain, the more skills I acquire and hence the more the job opportunities. Since I will have knowledge from getting quality education, I can even become self-employed as the skills to start my own business. Educational background means having a strong foundation in whatever area one wants to

Conflict Process Essay Example | Topics and Well Written Essays - 4250 words

Conflict Process - Essay Example Such groups at a basic level may comprise of relationships between family members, friends and acquaintances, or colleagues at work places (interpersonal, inter-organizational or intergroup). Within the framework of such socially constructed groups, there may be disagreements between members with varying needs, objectives or beliefs, which may lead to conflicts. Within a larger framework, groups relate to regional, national or even international levels, where such conflicts if not managed well, may even lead to a full-scale war. Conflicts are confrontations between two or more people having opposing requirements, ideals, notions, faiths, or objectives. Conflict between human beings is unavoidable and pervasive. However, the outcome not being predetermined, it can be altered to arrive at a peaceful resolution. If a conflict is kept unchecked, it can escalate to produce results that may be destructive or even non-productive. Conflict analysis and management is thus an integral part in maintaining strong and productive interpersonal relationships amongst family members, within colleagues in an organization, and even between nations. While it is difficult to exactly delineate conflict, most of existing definitions include two factors: for a conflict to occur there must be at least two groups working/interacting with each other. , and there must be some perceived sense of an incompatibility between the groups (Kuhn & Poole, 2000). A.W. Green defined conflict as â€Å"the deliberate attempt to oppose, resist or coerce the will of another or others† (cited in, Bhattacharya, 2008, 64). Two other definitions of conflict frame it as the â€Å"the interactive process manifested in incompatibility, disagreement, or dissonance within or between social entities† (Rahim, 1992, 16), or as the â€Å"process in which one party perceives that its interests are being opposed or negatively affected by another party" (Wall & Callister, 1995, 517). In the context, that â€Å"a conflict is life as usual† (Abigail and Cahn, 2010, 3) and hence inevitable between human relationships the process must be studied in order to control and effectively manage it and produce beneficial outcome (especially for those looking to work within organizations where working would involve teamwork) this paper will analyze the process of conflict analysis. It will examine a recent interpersonal crisis that occurred in the researcher’s life (pertaining to the divorce case between my ex-wife and me) and is especially important, as it allows me and the reader both, to comprehend whether during the entire process our confrontation went out of control, and whether in future I should seek a better route while dealing with interpersonal conflicts, in personal life or at workplace. This paper will analyze a conflict situation using various conflict theories and conflict management processes (from a Christian perspective), to derive that negotiation through effectiveness communication and mediation, anger control and forgiveness helps to achieve beneficial results for the disputants, without the members having to resort to physical violence. Discussion 1. Description of the situation Who was involved?- In any relationship when there are two or more interdependent people conflicts tend to occur when relatio nship rules are not adhered to and there is lack of sincere explanation to explain the rule break (Webster, MLOS561- conflict and negotiations in organizations, Slide 14). Due to the break in relationship rules, there arises incompatibility, which may lead to adverse effects on the relationship, and if the problematic situation is not handled appropriately, the entire

Kenneth Burke’s Dramatism Essay Example for Free

Kenneth Burke’s Dramatism Essay Life is drama; playing roles in relation to other people. Interest in the interaction of language and action. Symbolic Interactionist—Language is symbolic action. â€Å"Verbal symbols are meaningful acts from which motives can be derived (Griffin, p. 329).† â€Å"Human beings†¦are a symbol-creating, symbol-using, and symbol misusing animal (Littlejohn, 1978, p. 69).† A theory of Motives—why do people act (particularly rhetorically) the way they do? Assess motives. Texts/Speeches created by people to â€Å"DO SOMETHING.† Can be analyzed to determine what it is they are trying to do. Distinguishes human â€Å"Action† from Animal â€Å"Motion† Action Motion Done on purpose;Behaviors that are non- voluntary behavior purposeful/non-meaningful e.g. DramatismïÆ' ª ïÆ' ªAll animals and objects Peoplehave motion ïÆ' ªÃ¯Æ' ª Forms of ThoughtThe study of motion is ïÆ' ªmechanism Understood through motives ïÆ' ª Pentad (tool for understanding motives) Motive: Linguistic Product of Rhetorical Action Created a Grammar of Motives (â€Å"grammar† meaning rules, principles, elements, structure and/or book) Motives are viewed by Burke in terms of internal sources of action; but rather in terms of how language and terms are used to make actions understandable. Guilt as Motive: guilt is an â€Å"all-purpose word for any feeling of tension within a person—anxiety, embarrassment, self-hatred, disgust, etc. (Littlejohn, 1978, p. 70).† We communicate to purge ourselves of guilt. Guilt arises out of language. Three sources of guilt: 1. The Negative: Language allows for rules, morals, etc. that surround us and we can’t escape violating. 2. The Principle of Perfection: Language allows us to â€Å"imagine† the ideal (should). 3. The Principle of Heirarchy: Structure society with competing class and group distinctions We seek redemption (reduce or eliminate guilt) through communication/rhetoric/dramatism 1. Mortification: self-blame 2. Victimage: external enemy is the source 3. Scapegoating: blame other(s) Substance: general nature of a thing Consubstantiation: (shared substance, commonality) Identification: (same as consub) degrees of; conscious or unconscious; 1) material identification—goods, possessions, things 2) idealistic identification—values, ideas, feelings, attitudes 3) formal identification—form or arrangement of act/conventions; roles, customs, etc. Division—differences with others (source of guilt) PENTAD Tool for understanding motives Act SceneAgent Agency Purpose (Hexad: Attitude: delayed or incipient action) Statement of motives will answer: What was done (act), when or where it was done (scene), who did it (agent), how it was done (agency), and why it was done (purpose).

Gold is a precious meta Essay Example for Free

Gold is a precious meta Essay Gold is a precious metal and its price since its discovery is usually determined by the open market. However, a bench mark figure is set daily through a procedure referred to as gold fixing and this benchmark figure controls the gold industry thus the prices of gold. This gold fixing procedure was introduced in 1919 and it originated from London where it is still practiced even today. Gold is usually measured using grams and also by troy weights like all other metals considered precious. In the past, gold was being used as currency and this only ended with introduction of paper money. In 1968, the economic conditions which were prevailing led to the formation of a two-tier pricing scheme. Under this format, a standardized currency based on the gold value at that time was allowed to settle all international accounts while gold trade at the private market was being controlled by the market forces. This arrangement however ended in 1975 and gold started operating in a free market. This caused the price of gold to fluctuate with the price rising to $850 per ounce of gold in 1980 to as low as $252 in 1999. The historic prices of gold have been known to fluctuate greatly although a benchmark figure is set to ensure that the price do not exceed the upper and lower limits. Before the collapse of the gold standard in the 1970s, the price of gold was highly influence by the United States dollar since the dollar was pegged on the gold (GOLDPRICE. ORG, Para 1-5). This research paper will evaluate the impacts that the current recession may have on the prices of gold, the differences between government and gold investment, the causes of gold fluctuations as well as the effects that gold fluctuations may have on the present value of money. Impact of recession on gold prices One of the questions which are being frequently asked today is what would happen to the prices of gold as a result of the recession or depression being experienced in United States. A research conducted by the world gold council aimed at comparing gold performance during the recessionary periods. However, it has been established that gold prices are not affected by the global recession. During recessionary periods, the must be losers and winners based on the terms used in evaluating asset performance. Fixed income assets like gold tend to win during such periods while cyclical stocks lose. An analysis on correlation and regression carried out during a recessionary period in the United States showed that there is no possible relationship between the growths of the country’s GDP and the gold price changes. As such, a recession does not impact negatively to the prices of gold. This underpins the role of gold as a diversifying asset especially in times of recession and also outlines the forces that control gold prices. The recession unlike it was widely believed has had positive impact for gold prices despite the decline in the dollar strength (Connell, Para 2-4). Due to the recessionary period being experienced in most parts of the world, more people have turned to gold investment thus making the present value of money to decrease. An increase in gold trading would lead to an increase in the gold prices thus purchasing the same value of gold for more money. This would mean that the value of money would have gone down. On the other hand, a decrease in the volume of gold would lead to and increase in the present value of money (Potter, Para 4-5). Gold investment versus government investment There is a heated debate on what form of investment is more viable and beneficial between gold investment and investing in government securities or bonds. Both of these two investment options have their advantages and disadvantages. Gold investment is recognized as one of the best investment since it offers solid investment. As noted above, gold prices are not adversely affected by the recessionary periods meaning gold can still maintain value of investment even when there are economic crisis in a country. The fact that gold prices are not negatively influenced by recession makes gold investment more attractive than investing in government bonds especially in times of economic crisis (Willink, Para 2). However, gold investment is a risky investment especially for a person who is not an expert in the gold field. Also, some forms of gold can be confiscated by the government in times of war leading to big losses. Government bonds on the other hand amounts to lending to the government which is usually done at a fixed rate of interest. The bonds are considered to be risk free and also repayment is guaranteed. This form of an investment does not yield higher returns to the investor making it less desirable. Due to the improvement of technology and globalization, investing in gold is becoming risky as they are chances of being cheated. Gold is also very costly and the returns may not be good especially due to the form of market in which gold operates. As such, investing in government bonds would be more effective since the risk involved is minimal and returns are guaranteed (Willink, Para 3-6). Causes of gold price fluctuations Gold prices are regulated by the market forces and as such they are subjected to the law of demand and supply which explains the gold prices fluctuations. During inflationary periods, people buy more gold for investment since it is not affected by inflations. This leads to an increase in gold demand thus the prices. On the other hand, people sell their gold investment during the boom period making the price of gold to decrease. Demand and supply forces are major contributors to the fluctuation of gold price. Another possible cause of gold price fluctuation is the exploration cost of gold and also the cost involved in developing gold to make the needed products such as jewelry. When exploration and manufacturing cost increase, the price of gold and gold products also increase and vice versa. Fluctuations in the paper currency may also affect or lead to price fluctuation of gold. When paper money loses value or individuals lose faith in a country’s currency, the demand for gold increases leading to price surge (Jackson, Para 1-4). Conclusion Gold trading is one of the oldest forms of trade in the world. In the ancient times, gold was being used as a means of exchange and was used as a standard that was being used in the international markets. During the gold standard, the dollar was pegged on gold and was used to ensure equitability and measurability. However, after the collapse of the gold standard, gold prices were left to be determined by the free market which has led to the fluctuations being experienced in the gold market. Unlike in the past, more people are turning to gold investment mainly due to its resistance to global market fluctuations and economic crisis. However, gold investment is one of the most risky and also lucrative investments as it may lead to huge losses or huge profits. Investing in this market also requires experts due to the complexity and instability of this market. Reference: Connell, Rhona: What does a US recession imply for the gold price? (2008). Retrieved on 16th March 2009 from, http://www. ibtimes. com/articles/20080604/what-does-a-us-recession-imply-for. htm. GOLDPRICE. ORG: Gold Price History. Retrieved on 16th March 2009 from, http://www. goldprice. org/gold-price-history. html. Jackson, Dave: Why Gold Prices Fluctuate. Retrieved on 16th March 2009 from, http://ezinearticles. com/? Why-Gold-Prices-Fluctuateid=720555. Potter, Christopher K. : Gold Money. (2007). Retrieved on 16th March 2009 from, http://news. goldseek. com/GoldSeek/1194370818. php Willink, Andrew: Alternative Investment Round-up. (2008). Retrieved on 16th March 2009 from, http://www. ratecity. com. au/savings-accounts/info/alternative-investment-round-up/.

Financial Decision Making and Theory

Financial Decision Making and Theory Abstract The aim of this research is to provide an overview of financial decision making and theory and practise according to which the decision has been taken. In this research the risks faced by any person or company in financial decision making and the strategies adopted by companies will be discussed. Decision making is plays an important role in progress of any company. Basically there are some set goals and objectives according to which company make their strategies and take financial decisions. Intelligent decisions put company on a progressive way and all this depends on the financial manager that how to make the strategy, how to follow a set plan of strategies and how much will be the success. Making right decision at the right time will lead a company to success, for this purpose one have to analyze the resources and then define some goals. Different strategies will be brought in to action to achieve those objectives and goals. Afterwards what will be the impact of investment for the company and how much profitable it will be also the role of taxation will be discussed. Chapter 1: Background and Introduction Introduction: Decision making is an important and necessary part of everyones life. When it comes to making business decisions i.e. where huge money is involved, and loss and profit make a big difference then financial decisions will be more risky, and difficult, however there will be certain rules and procedures by which risk of financial decision can be reduced or minimize the loss. The process of corporate decision making is the most important decision for effective management. Decision making process is based on experts knowledge and experience. The good financial decisions help the organization to generate profit effectively, if the decision is accurate, business in specific time will be successful, and however poor decision could lead to failure of business (Mind tools 2007). Every firm have some objective and goals because if there are no objectives and goals, then there is no point to struggle and hard work and therefore no development and success. According to those goals and objectives there will be a vision and mission of company and then some strategies will be defined to achieve those objectives. Profitability is the basic aim behind every strategy because it will help the company to forecast their profits, revenues and profits according to each strategy.(Lumby,S 2004) When deciding on an investment opportunity, one has to consider the risks involved. As an investor or manager makes decisions on which project to invest, consideration must be given for the Net Present Value (NPV) of the different projects from which to choose. Afterward, a good investor should conduct sensitivity and scenario analysis as well as a risk analysis. Sensitivity analysis shows NPV under varying assumptions, giving managers a better feel for the projects risks (Ross et al, 2005). In the real world, it is likely that there will be many variables affecting a project. The sensitivity analysis only modifies one variable at a time. This is where the scenario analysis comes into play. Scenario analysis examines a projects performance under different scenarios (Ross et al, 2005). Finally, the break-even analysis helps to calculate the figure at which the project breaks even. This is useful as Company want to know how bad forecasts must be before a project loses money. All three analyses help an organization or individual understand the risks involved in a project. The goal of dissertation is to analyze the risks associated with the investment that will help to make financial decision. Profitability index is a good tool to help determine which of the projects will give the company the highest value after investment. As a financial analyst, it is extremely difficult to eliminate bias for analysis. One has the option to adjust his or her stance and can choose to be conservative, moderate or aggressive. The value of the NPV, IRR and PI can be higher or lower based on the position that the financial analyst favours the most. This is a risk as it also poses some form of bias relating to the financial analysts view. The results would not show the true stance of the company, rather it would show the analysts view. To mitigate this risk, a strategic analyst will make decisions based on a combination of results and abstain from decisions based on his or her own stance (Ross et al, 2005). The fact that no one can be certain as to how the economy or market will perform in the coming years also poses a major risk. As the values are selected and decided, outside factors might have a major effect in the following years that will skew the current values. In the Financial decision making, no information is given on the stability of the market. If the market is not stable, predictions could not be made to a certain extent, thereby making investment decisions risky. To mitigate this risk, the concept of forecasting needs to be applied. Although forecasting would not eliminate all risks associated with the future, it may help identify and evaluate risks, clarifying factors and reveal assumptions (Veryard Projects, 2001). Forecasting will help to identify future risks in order for the companies to create a backup plan. Environmental scanning is also another mitigation method as it will help identify external factors that might pose a threat to their decisions (Veryard Projects, 2001). The Risk element in concept of investment decision is an imperative factor in the valuation of likely investments. Risk and risk management are at the core of an investments success. Risk refers to the volatility of unexpected outcomes, usually relating to the value of assets or incomes gained from them (Jorion and Khoury, 1996). In simple words, risk refers to a measure of the possibility of being surprised. A key concern for financial institutions and investors is the enormous issue of market risks. Risk can be categorised into number of types but a clear understanding of Financial Risk is beneficial in evaluation and monitoring of investments. Financial Risk is the variability in the investors returns. Investors can considerably reduce the variation in returns by carefully investing in two or more assets. Finally it is concluded that decision making is all about compare possible options and alternatives and financial decision is totally based on the theory of valuation because company valuation is necessary in order to make multiple alternatives and in all types of decisions there are same essential concepts involved which has exclusive features in the valuation and later on decision making process (Lumby, S 2004). These strategies help in making intelligent decisions by analyzing the given or required information. These strategies also help in selecting the best possible action based upon the consequences of decisions and also work out the significance of individual aspects (Mind tools 2007). Aims and Objectives The aim of this dissertation is to reduce the risk of financial decision making. To define a way for the managers by which they can reduce the risk of uncertainty and they can identify that whether to invest in this business is profitable or is there any risk of loss. There will be certain processes and procedures. By following them financial decision making will not very difficult and after investing these process will also make an estimation of the profit or loss. The main objectives of this dissertation will be as follows:- Identify the risks in financial decision making process. Define the methods and procedures to minimize the risk. To calculate that after investing in certain project what will be the impact of that investment i.e. Profitable or not. What will be the taxation effect? These objectives will be addressed in the different sections and then based on the research and findings a conclusion will be defined at the end. Chapter summaries This dissertation consists of an Abstract and five further chapters. In first chapter will be a thorough introduction of dissertation and about the aims and objectives In second chapter the literature review will highlight different areas of research and about the objectives to be achieved. Research methodology will be described in the third chapter and in this chapter different methods using during the research will be explained and also the collection of data. Chapter four will be about the outcomes of the research and there comparison with literature. Chapter five will be about the conclusion and recommendation by analyzing the objectives through different methodologies that what the final outcome of the dissertation is. Chapter 2: Literature Review Responsibilities of Financial manager in investment decision making The financial manager is the person whom primary responsibility for financial management in a firm. The financial manager must act as an intermediary standing among financial markets and the firms operations, where the firms securities are traded. The role of financial manager is very complicated its a two way process. Firstly, maintain a cash flow from shareholders to company and secondly from company to shareholders. This cash is for the purpose to acquire real assets used in and by the company operations and expanses. Later on if the performance of company is good and progressive these real assets generate profits for the company which works as cash inflows and finally this profit is returned to the shareholders who have earlier made the investment (BusinessCreditInfo.com, 2006). This shows that the financial manager has to deal with capital markets as well as the firms operations. Therefore, the financial manager must understand how capital markets work. The financial manager must undertake certain specific duties to carry out the responsibilities satisfactorily. Some of the main duties are summarized by the following; 1. The financial manager is continuously involved in financial analysis to monitor the financial performance of a firm. For example, financial manager has to ensure and provide adequate financial control such that funds are allocated in an efficient manner. 2. The financial manager must ensure that the firm meets its day-to-day cash requirements. 3. The financial manager advises on the acquisition of fixed assets such as cash, market securities, accounts receivable and inventories. 4. The current and fixed assets of a firm are usually financed through a combination of current and long-term liabilities, and equity, or shareholders money. The financial manager must ensure that a firm invests in the types and amounts of fixed assets needed for efficient operation. 5. The financial manager must pay attention to the welfare of the firms shareholders. In this regard, financial manager needs to develop and implement a dividend policy which is acceptable to these shareholders. The fundamental financial goal of any organization is to maximize the stockholders value. In general, an increase in stockholders wealth means that value has been added to firm assets and wealth of society has generally increased. In addition, stockholders are satisfy to contribute cash only if the decisions made to generate at least equal to the returns that stockholders could earn by investing in financial markets. Otherwise, shareholders might be wanted their money back. (Ardalan, K 2003) According to Van Horne J., (2007) stated that maximization of profits is regarded as the proper objective of the firm; however, maximization of profits is not as inclusive a goal as that of maximizing shareholder wealth. For one thing, total profits are not as important as earnings per share. A firm could always raise total profits by issuing shares and using the proceeds to invest in Treasury bills. The viewpoint of financial manager and stockholder regarding to maximizing share value are as following (Arcas, 2007); 1. The viewpoint of financial managers is creating high retained earning or profit to the company. Whereas, Shareholders consider to dividend and stock price of the company so the aim of the management is always to make the company profitable and progressive to maximize shareholders value. The makeup of the shareholders can change without affecting the operation of the corporation whereas the decision from financial manager could imply the trend of shareholders wealth. 2. Long-term and Short-term; financial managers: good financial managers will have a long-term plan to increase share value along with the current market situation. Meanwhile stakeholders and shareholders may desire to get the higher return with short-time period. Therefore, they may change and move around to find more profits. 3. Ethics in management; unethical financial manager may attempt to find the short-term prosperity and give him/herself a return in many kinds from company compensation. Meanwhile stakeholders: the inappropriate practice may lead to the unacceptable image and may relate to the industry wealth. In addition, shareholders: the unethical decision from manager could pull down the share value and may result in bankrupt if the owners are not promptly action to solve the issue. 4. Different Opinion in a type of investment to increase the shareholder wealth between financial manager and Shareholders because each person may see the high return from different perspective and the best decision can not be concluded. For example, stockholders may not think about risk of the possible earnings stream. Stockholders want to increase stock price by increasing the risk. On the other hand, financial manager who looks at the overall pictures for long-term goal, financial manager want to accelerate good performances of the company by limiting the risk that the company should take. Market price is the performance indicator for any company. It tells that how much company is earning and also the management performance on their shareholders behalf. The management is under continuous review. If a shareholder is dissatisfied with managements performance, he/she may sell his/her shares and invest in others company. This action, if taken by other unsatisfied shareholders, will put downward pressure on the market price per share. Therefore, the company cannot survive and raise the fund on as favorable terms as possible in the market which impact directly to the financial manager. In short, financial manager has important roles in managing financial in the firm, dealing with conflictions either boards of director, employees or shareholders, which made financial manager requires short-term and long-term viewpoint to increase financial status and to maximize shareholder value. Techniques used in financial decision making and risks involved Researches show that investment decisions which are made, no matter in large or small businesses are mostly dependant on Capital Budgeting techniques. According to Jones and Smith (1982), an American engineer has first use the present value calculations to calculate non financial investments back in 1887 who were really concerned with the railway construction economies (Jones and Smith, 1982). It is also seen that Fishers (1907) seminal work called The Rate of Interest is first discussed by an American economist evaluating in finding net present value.(Fisher, 1907). Capital Budgeting, frankly speaking is the process of generating, evaluating, selecting and following up on capital expenditures (Study Finance, 2007), or in other words the planning process used to determine a firms long term investment. According to Maccarrone (1996), in the last few years capital investment has boost in decision making and further believes that most of the theories about capital investments behavioural aspects and about the association between investment decision. (Maccarrone, 1996). Also looking at the research paper by Fourcans (1987), where he says that, in the success of all big names and multinational companies capital budgeting is the most popular strategy and plays very important role in the development of any organization. As other techniques there are some drawbacks, ambiguity and risks involved in using capital budgeting as Fourcans (1987) focused that when you use certain strategies in business, a certain risk level is associated with each technique (Fourcans, 1987). As mentioned before, majority of investment decision which take place are mostly backed up by capital budgeting techniques, but in real life, not all companies follow the same type of techniques. The type of techniques they use sometimes depends on their size or on the position of the business in the market. In this report wewill be looking at different business positions and list the type of techniques they use based on research. Also there will be a discussion on looking at the risks and uncertainty involved in capital budgeting techniques because theories and researches suggest that quite a lot of time the results from capital budgeting are inefficient and in-accurate. Technically speaking, every investment project is worth the go if the net present value (NPV) is positive, but according to Holmà ©n (2005) this is not always the case. For the calculation of NPV, different cash flows of a project required and then discount them at a given discount rate. Discount rate is the risk of cash flow for which the price is charged by capital markets. The formula for NPV is Where t is Time of the cash flow. r is The discount rate. Ct is the net cash flow. The stockholders from big organizations think that discount rate is a risk according to the strategy that affects the project value. During capital budgeting, the deficiency of capital markets, bankruptcy costs were mostly ignored when there is capital market imperfection (Holmà ©n, 2005). This reason is also backed up by Stulz (1999) who believes that there are certain aspects which are neglected while making decisions based on NPV (Stulz 1999). There is no doubt that NPV is the most commonly used technique, but there are also other alternates like payback period etc. The payback method used is consider the most imperfect method because firstly it overlooks cash flows and secondly time value of money; this factor is ignored. According to Graham and Harvey (2001), which is also a surprising fact that 57% of Corporate Finance Organizations (CFo) apply payback method for capital budgeting decisions and 76% use NPV method (Graham and Harvey, 2001). Koedik et al (2004) says that the met hod of payback is widely used not only in Europe but also in UK, Germany and France. It is second largely popular technique in Netherlands subsequent to NPV (Koedjik et al, 2004, pg 71-101). As stated previously in the report, most of the organization use capital budgeting in different ways and techniques depending on the size and growth because if a company is bigger in size and position is stable then they have higher expectations and they will use more complex techniques because they have extra shares in the markets and they have got enough time to achieve what they have budgeted. As mentioned in the research done by Holmà ©n (2005), large and growing organization, the majority of them use NPV more willingly then other techniques (Holmà ©n, 2005). Even Ryan AND Ryan (2002) states in his research that NPV and IRR is most popular capital budgeted technique in progressed organization. Patricia and Glenns research was done on 1000 companies and the outcome was, about 49.8% big organizations use NPV and on the other hand 44.6% use IRR with the possibility of using each more commonly being 85.1% and 76.7% respectively (Ryan and Ryan, 2002). Collis and Jarvis (2000) say that in small companies financial decision is all depends on owners and managers that how they use their resources and information to manage and control their process (Collis and Jarvis, 2000). Consequently, According to Peel and Wilson (1996), if financial management practices in the small firm sector could be improved significantly, then fewer firms would fail economic welfare would be increased substantially (Peel and Wilson, 1996). Normally in practise small companies tend to follow the criterion of big financial names but according to their size and growth they make their own policies and strategies with clear intention keeping in mind their objects and goals and are quite similar like the big organizations are following. These can be explained critically as follows. First, the financial management practices of large firms are neither conclusive nor indisputable. On the contrary, they are controversial and continually changing (Johnson and Kaplan, 1987). Second, the larger companies themselves, even with highly skilled and experienced staff, do not always stick strictly to standards defined by them so could not avoid the serious failure in real practise of financial decision making (Jarvis et al., 1996).Third, many research studies have demonstrated that because of the structure small companies do not function in the circumstances as large organizations because of the different environment, economy and financi al restrictions (Curran, 1990). According to McMahon and Stanger (1995), because of different size and growth there is a difference in operation environment and so in the level of risk and uncertainty (McMahon and Stanger, 1995). So it can be said that uniqueness of small firms required financial strategies which suits to its requirements and which are designed to fulfil its requirement according to their scale and quite similar to the strategies of big successful organizations (Jarvis et al., 1996). Small organizations have limited resources to manage the strategies in the real world as compare to the big organization (Jennings and Beaver, 1997). So the fact is that small companies have different environment and conditions as compare to large organizations because the decisions making capability of small firms is often unstable by success point of view which big organizations dont face many times. According to Taylor III (1998) research, when assess the investment management there are two perspective namely local and global. In local perspective company performance can be calculated by its smaller units and then combine them on a local level. If performance of the company at the local level is good then it will maximize the performance of the organization as a smaller component. Local measures include usually Pay back method, IRR (Internal Rate of Return) and NPV (Net Present Value). On the other hand global measures assess any company performance as complete unit. If the performance of company as complete unit is fine it will maximize the performance of the organization completely. In global measures ROI (Return on Investment) net profit and cash flow techniques are being used (Taylor, 1998). As above explained that the difference of capital budgeting techniques in small and big organizations. Now see that do these techniques make any difference in public and private sector. According to Habib et al (1997) tells how financial decisions made. In his paper he said, Recent developments, such as privatization and the private finance initiative, have raised the issue of which assets should be owned by the public sector and whether assets have different values in the public and private sectors (Habib et al 1997). The research shows that there is a difference between capital investment in each sector and in different organizations depending upon their size, capabilities and growth and how well establish companies maximize shareholders value and how finance managers take decisions for the benefit of shareholders. As the research continues it tells us that NPV (Net Present Value) is used to calculate shareholders value but calculation by NPV shows a risk in the financial market and more research shows that calculation by NPV calculation in evaluating the risk factor is efficient or not. Further research shows that projects using NPV in most of the public sectors are quite similar so the outcome is also similar which will help in getting the profitability and maximize the shareholders wealth (Habib et al,1997). Capital budgeting techniques which are frequently used these days in every organization do involve certain amount of risk. In investment decisions the techniques involved not always give perfect outcome. Drury andTalyes (1997) in their research say that for a long time capital budgeting techniques in UK and USA and using all four techniques of capital budgeting i.e. NPV, IRR, ARR and PBP. Further says despite the increased usage of the more theoretically sound discounting techniques, several writers in both the UK and USA have claimed that companies are under investing because they misapply or misinterpret discounted cash flow techniques(Drury and Tayles, 1997). Other writers like Finnie (1988), Hodder and Riggs (1985) and Kaplan (1986) say that firms are guilty of rejecting worthwhile investments because the improper treatment of inflation in the financial appraisal; inflation affects both future cash flows and the cost of capital that is used to discount the cash flows (Finnie, 198 8; Hodder and Riggs, 1985; Kaplan 1986). Amongst the risk involved in the investment appraisal techniques is the use of excessive discount rates. Dimson and Marsh (1994) say that many UK companies may be using excessively high discount rates to appraise investments and, as a result, these companies are in danger of under investing (Dimson and Marsh, 1994). Porter (1992) says that in the USA it has also been alleged that firms used discount rates to evaluate investment projects that are higher than their estimated cost of capital (Porter, 1992) Ehrhardt and Daves (1999), in their research for unusual and extraordinary cash flows, say that by ignoring cash flows, capital budgeting results are incorrect which are Quite large From normal operating cash flows risk are quite different Not part of companies normal operating cash flows. There are some risk avoidance methods which can be used to get more accuracy in investment decisions. These methods and techniques can be used for the future purposes in taking financial decisions (Ehrhardt and Daves, 1999). Take right decision at the right time is important so to get good outcome from capital budgeting it is essential to use right technique at the right time. (Pollet et al, 2006). Research shows that there is a difficulty in calculating the theory of capital budgeting and find different opportunities of investment and when making investment decisions the market should be consider positive. Further it is observed that organization using complex budgeting techniques to achieve their high standard goals and objectives for short term and in order to gain maximum market share, but on the other side companies with high goals for long term use target oriented strategies which are not very difficult to achieve (Della Vigna and Pollet, 2006). Chapter 3: Research Objectives Research questions How much external and Internal funds impact on Corporate financial decisions and how? How corporate capital structures effect the financial decision making? Has tax effect in corporate financial decisions? If yes how and how much? Objectives To find out the financial decision making process of a company and the basic ideas on which that decision is based. To identify how taxes affect the process of financial decision making process and how much the effect will be? To find out how different type of investments effect the financial decision making process and how much the effect will be? To research how can we reduce the risk of decision making in the industry using corporate financial decision, how a company should make its decision and which aspects a company should be concerned about while making an investment decision? Chapter 4: Methodology Research Philosophy According to Remenyi et al (2003, p.32) positivistic philosophy aims at the derivation of laws or law-like generality which are related in natural and physical sciences. In quantitative research the researchers are allowed to understand the concept of the problem which is under observation. Facts and the causes of behaviour is the major emphasis area(Bogdan and Biklen 1988), in which the numeric information can be calculated, and summarized using a mathematical process and then the final outcome which is in statistical terminology is formulated (Charles 1995). There are two features common in realistic philosophy and positivism philosophy: a belief that for data collection in social and natural sciences the approach is almost same and for explanation and assurance to the view that scientists normally pay attention to the external reality (Bryman 2001). The interprevistic philosophy in contrast, emphasize that the suppositions of both philosophies are unnecessary; especially in cases where many factors manipulate the objective of the study, very complex to separate and control in experimental laboratory settings (Hirschheim and Klein 1994). Qualitative research, generally defined, means any kind of research that generates result not arrived at through quantification (Strauss and Corbin 1990, p.17) and which take place from real-world circumstances (Patton 2001, p.39). In this situation this study is using interprevistic approach because the findings i.e. how to make investment decisions and how much will be the risk in that decision and how much will be the impact of that investment afterwards is really difficult to calculate exactly and also is a complex collection in real-world scenario, so it will not appropriate to use positivistic approach. Research approach Inductive reasoning implement to the situations where measurements or some particular observations are formed towards formulating broader conclusions, generalizations and theories (Saunders et al. 2003, p.87-88). The deductive reasoning is the approach in which one start thinking about generalizations, and then continues towards the particulars of how to implement the generalizations (Saunders et al. 2003, p.86-87), mostly applicable in disciplines where agreed facts and established theories are available (Remenyi et al. 2000, p.75) From the following table will tells the major differences among inductive and deductive approaches and in this research, inductive approach will be used as it is best suitable for an interpretivistic research. Deduction Induction Processing from theory to data high structured approach collection of quantitative data independence to researcher understanding research context closely realization that the researcher is the part of research process collection of qualitative data providing flexible structure allow to change the research emphasis by the progress of research <

Cause and Effect Essay †The Causes of Divorce :: Expository Cause Effect Essays

Cause and Effect Essay – The Causes of Divorce From the past to present, people all over the world have determined to live together, which is called â€Å"get marriage† in another word, so that they depend on for living each other. Nevertheless, some couples are unable to maintain their relationship; therefore they choose divorce, which is one of the solutions to cope with problems between husband and wife. Furthermore, most people think carefully before they get marriage. However, the divorce rates trend to continually increase nowadays, thus it might be argued that divorces can be taken place easier than the past. There are three main causes of divorce: changing woman’s roles, stress in modern living and lack of communication, which are highlighted below. The first significant cause of recent rise in the rates of divorce is that women completely change in roles. In the past, men have to earn whole money to afford the expense of family, whereas woman only do housework, hence women have no money leading to depend on husbands’ money. Because of these situations, it is too difficult for most women to separate from their husbands. Nonetheless, these situations entirely change nowadays. The equality between men and women in roles are very clear at the moment, thus women can work outside to earn money, while men share the household tasks such as cooking, cleaning, washing as well as caring for children. It can be clearly seen that women are independent from money as they can earn money by themselves to support their living cost. Accordingly, the divorce rates recently rise. Another cause to confirm the recent increase in divorce rates is stress in modern living. Many people, who live in globalisation, have considerable pressures to earn money. It can be obviously seen that the stress has occurred since they are children. For instance, in Thailand, students generally want to go to famous school so that they take advantage to go to well-known universities. Studying in celebrated universities mostly causes having a good opportunity to find a job or earn a lot of money. This circumstance not only happens in Thailand, but also occurs in many countries. Some people are laid off from their companies; consequently the stress occurs in their family, which leads to divorce. Some families can earn money, but inadequate for covering their expenses, therefore it is easy to think about divorce. Nevertheless, the rates of unemployment trend to continually increase as a result the divorce rates can also rise.

Summary of Raymond Carvers Cathedral :: essays research papers

In Raymond Carver’s story, â€Å"Cathedral,† the story tells of how a close outside relationship can threaten a marriage by provoking insecurities, aggravating communication barriers, and creating feelings of invasion of privacy. The husband in the story is given the gift of seeing the cathedral through a blind man’s eyes. Although the title suggests that the story is about a cathedral, it is really about two men who come together and share a vision and realize it is he who is blind. As the story begins, the character of the husband has a negative personality. He lacks compassion, is narrow-minded, and is jealous of his wife’s friendship with a blind man named Robert. His constantly complains that â€Å"a blind man in my house was not something [he looked] forward to† (362). The close outside friendship between the narrator’s wife and Robert provokes his insecurities. This friendship has lasted for ten years and during those years, they have exchanged countless tapes regarding experiences they have gone through. Because of this, her husband feels â€Å"she [has] told him everything or it so it seemed† (363) about their relationship. Upon the arrival of his wife’s friend, the husband is ultimately uncomfortable around Robert because he does not know how to communicate with or act around him. His discomfort is revealed when Robert and his wife were sharing their experiences â€Å"about the major things that had come to pass for them in the past ten years† (367). He felt it was necessary to join in because he thought Robert would â€Å"think [he] left the room and didn’t want [his wife] to think [he] was feeling left out† (367). It is obvious the husband is overly involved with Robert’s handicap and fails to see him as a person with his own thoughts and ideas. As the story progresses, the husband’s attitude towards Robert changes. During dinner, he â€Å"watched with admiration as [Robert] used his knife and fork† (366) on a piece of meat. As bedtime draws near, his wife heads upstairs, leaving both men alone. The husband begins to flip through channels and comes across a program about a cathedral. Robert is unaware of what a cathedral is and the husband is attempts to explain, but has a hard time in doing so. To get a better understanding, Robert suggests that he draws a cathedral while he places his hands on top of those of the husband.

Understanding Tay-Sachs Disease Essay -- Human Diseases, Genetic Diso

Introduction When presented with this assignment, Tay-Sachs disease was one of the first choices that came to mind since it is one of many diseases associated with Ashkenazi Jews (Jews of Eastern European descent). Tay-Sachs is a deadly heritable disease caused by the absence or mutation of Hex- A, an enzyme that breaks down complex fats called gangliosides found in nervous tissue. Without Hex- A, there is a buildup of gangliosides in the cells of the brain, causing major damage to the cells (â€Å"Learning About Tay-Sachs Disease†). Tay-Sachs is an autosomal recessive genetic disorder, which means that both parents must be a carrier of the diseased allele for the children to be at risk. The interesting thing about autosomal recessive disease allele is that they are hidden by the functionally normal allele and therefore can remain hidden for generations. Only when the couple has the same recessive disease allele there is a twenty-five percent chance that the disorder will appear in the chi ld (Teichler-Zallen 162-163). Though there are three existing forms of Tay-Sachs disease (Classic (Infantile), Juvenile, and Late Onset Tay-Sachs), this paper will focus on the most common form, Classic (Infantile) Tay-Sachs. General symptoms for all three forms include: loss of motor skills, muscular weakness, and respiratory decline ( ¹Tay-Sachs Disease). This paper will give the reader insight into the history as well as a more detailed description of the symptoms, diagnosis, and prevalence of the disease. History In the early 1880’s, three partially blind infants were brought to a clinic in London supervised by an ophthalmologist named Warren Tay. All three infants had the same symptoms: they were unable to turn over or sit up and they were unab... ...e.gov/10001220>. Goldberg, Carey. "First Human Gene Therapy Trial Planned For Deadly Tay-Sachs Disease | CommonHealth." CommonHealth | Reform And Reality. 11 Nov. 2011. Web. 21 Nov. 2011. . "Tay-Sachs Disease | CCJGD." Chicago Center for Jewish Genetic Disorders | CCJGD. Web. 16 Nov. 2011. . "Tay-Sachs Disease." NTSAD. National Tay-Sachs & Allied Diseases. Web. 16 Nov. 2011. . Teichler-Zallen, Doris. To Test or Not to Test: a Guide to Genetic Screening and Risk. New Brunswick, NJ: Rutgers UP, 2008. 162-63. Print. "WHO | Genes and Human Disease." Genomic Resource Centre. World Health Organization. Web. 16 Nov. 2011. .

A Scrutiny of the Ethical Dilemmas in ‘A Few Good Men’

A young Navy Lawyer named Lt. Daniel Kaffee is in charge of the cases of two Marines, namely: PFC Louden Downey and LCpl Harold Dawson, who have been court-martialed because of allegedly murdering a fellow marine that goes by the name of PFC William T. Santiago (Reiner et. al., 1992).PFC William T. Santiago criticizes the status of Guantanamo Naval Base Bay in terms of its health condition (Reiner et. al., 1992). The top officials ignore his appeals which led him to finally decide on requesting that he be transferred to another Naval Base (Reiner et. al., 1992). As they continue to pay no attention to his complaints, he threatened that he would expose a case of an â€Å"illegal fence-line shooting† if they would not transfer him to another Naval Base (Reiner et. al., 1992).He then sends a letter to Col. Nathan Jessep, the CO of the Marines at the aforementioned base (Reiner et. al., 1992). Col. Nathan Jessep reads it as a way of informing Lt. Col. Matthew Markinson, who is Col . Nathan Jessep’s executive officer and 1st Lt. Jonathan Kendrick, who is the platoon commander of PFC William T. Santiago (Reiner et. al., 1992).Both Col. Nathan Jessep’s subordinates get mad as they were being notified about it but they disagree with the decision of transferring PFC William T. Santiago to another Naval Base (Reiner et. al., 1992). Lt. Col. Matthew Markinson wants to transfer PFC William T. Santiago, however, Col. Nathan Jessep do not agree with it stating that PFC William T. Santiago will be trained there instead (Reiner et. al., 1992).Lt. Daniel Kaffee establishes that PFC Louden Downey and LCpl Harold Dawson were just carrying out the instructions/orders given by Col. Nathan Jessep, as well as, 1st Lt. Jonathan Kendrick (Reiner et. al., 1992). PFC Louden Downey and LCpl Harold Dawson reiterate that they were given instructions to â€Å"give the victim a Code Red† (Reiner et. al., 1992). A â€Å"Code Red† is a â€Å"colloquial termino logy† that pertains to â€Å"extrajudicial punishment† (Reiner et. al., 1992).When Lt. Daniel Kaffee began to infer that he was only specifically picked to be the lead counsel of PFC Louden Downey and LCpl Harold Dawson, he knew immediately the reasons why (Reiner et. al., 1992). It was because he used to engage himself in â€Å"quickly settling cases by plea bargains† (Reiner et. al., 1992).The ones who picked him had two motives for choosing him: number one is to hamper the case of PFC Louden Downey and LCpl Harold Dawson from being tried and number two is to humiliate the Marine Corps which will eventually tarnish Col. Nathan Jessep’s promotion (Reiner et. al., 1992).Fortunately, as the case progresses, Lt. Daniel Kaffee is more motivated to work on the case (Reiner et. al., 1992). He even learned to cooperate and respect LCDR JoAnn Galloway, his partner in defending the case of PFC Louden Downey and LCpl Harold Dawson (Reiner et. al., 1992).In the end, Lt. Daniel Kaffee is successful in defending the case by providing evidence that indeed Col. Nathan Jessep â€Å"ordered a Code Red† to get back at PFC William T. Santiago who has written a letter with regards to a case of an â€Å"illegal fence-line shooting† (Reiner et. al., 1992).As Col. Nathan Jessep confesses that he ordered so, he was arrested and detained while PFC Louden Downey and LCpl Harold Dawson were not charged by the court as â€Å"guilty of murder and conspiracy to commit murder† however, was charged for â€Å"conduct unbecoming of a United States Marine† (Reiner et. al., 1992). PFC Louden Downey and LCpl Harold Dawson were â€Å"dishonorably discharged† because of that (Reiner et. al., 1992).   

Case: Problem in Pay System

MGT 302 Case: problems in pay system Xiamiao Zhu 1. Are the CCUA department’s current pay practices concerning data processor IIs and computer analyst Is externally equitable? Explain your answer. Pay practice in CCUA: * Data processor II position: * $11. 00—$12. 70 per hour. * $24,960 per year based on their 40-hour workweek. * Health and life issuance is provided by the company at a cost of $950 per year per employee. * Computer analyst I position: * Salary range $25,500—$32,500. * The average salary paid to the eight incumbents is $31,500. Health and life issuance is provided by the company at a cost of $950 per year per employee. Survey data: | CCUA| Average salary| Mfg/ Consumer| Mfg/ Industrial | Banking | Other Financial service| DP services| Wholesale distribution| Junior analyst and programmer| 31,500| 35,156| 33,750| 40,714| 35,000| 32,143| 37,500| 32,875| Data processor| 24,960| 27,500| 26,000| 29,000| 28,000| 26,500| 26,000| 27,000| * Data processor I I position closely matches the survey’s Data processor. Computer analyst position is most comparable with survey’s junior analyst and programmer. * Both DP II’s and CA I’s at CCUA are underpaid compare to the market. * Both DP II’s and CA I’s at CCUA have $950 health and life insurance. 2. What specific action, if any, do you recommend be taken now? Be specific and justify your recommendations as fully as possible. * Conduct a wage survey: Who is the relevant labor market? What is the competition paying? What sources for market data? What benchmark jobs should be included?Get the survey done in the rural southwest area more in the locality where department is situated so that data is more comparable and find the other benefits of the survey companies. * Choose a pay policy and develop a pay structure: decrease the number of the employee and pay the higher salary. Or hire employee buy using less recruitment cost and training cost. Hire and pa y employee following the policy and the structure. 3. What specific strategy do you recommend for the future so that these types of problems can be anticipated and avoided. Exit interviews: understand the reason for not stay in the company and find the solution to avoid it. * Better scanning of local and regional external pay referents, do let employee think you are paying much less than others. * Better two-way communication with employee. Do the employee satisfaction survey once a year before somebody is trying to quit. * Provide no monetary benefits * Provide larger budget for job categories 4. What additional information in this situation would have enable you to improve the quality of your recommendations? Improve the exit interview and focus on the questions like: * What is your primary reason for leaving? * Did anything trigger your decision to leave? * What was most satisfying about your job? * What was least satisfying about your job? * What would you change about your job? * Find some information about pay equity information: http://www. hrsdc. gc. ca/eng/labour/equality/pay_equity/about/guide. shtml * Conduct the web search O*NET to find if there is any help. 5. Occupations:| Wage & employment trend:| Computer systems analysts:| Median wages (2011) $37. 7 hourly, $78,770 annual Employment (2010) 544,000 employees Projected growth (2010-2020) Faster than average (20% to 28%) Projected job openings (2010-2020) 222,500 Top industries (2010) Professional, Scientific, and Technical Services (33% employed in this sector)Finance and Insurance (14%)| Computer programmer:| Median wages (2011) $34. 92 hourly, $72,630 annual Employment (2010) 363,000 employees Projected growth (2010-2020) Average (10% to 19%) Projected job openings (2010-2020) 128,000 Top industries (2010) Professional, Scientific, and Technical ServicesInformation| Computer and information system manager:| Median wages (2011) $56. 4 hourly, $118,010 annual Employment (2010) 308,000 employees Projected growth (2010-2020) Average (10% to 19%) Projected job openings (2010-2020) 102,800 Top industries (2010) Professional, Scientific, and Technical ServicesFinance and Insurance| Operations research analysts:| Median wages (2011) $34. 59 hourly, $71,950 annual Employment (2010) 65,000 employees Projected growth (2010-2020) Average (10% to 19%) Projected job openings (2010-2020) 30,000 Top industries (2010) Professional, Scientific, and Technical Services (23% employed in this sector)Finance and Insurance (22%)Government (17%)|

Observation of Chemical changes Essay

Abstract: The purposes of this lab is to observe the reactions of some common chemicals contained in consumer products and observe the macroscopic changes these chemicals undergo. Purpose: The purpose of the lab is to be able to interpret underlying macroscopic changes in terms of the behavior of atoms and molecules and also to learn how to separate mixtures into their component substances by solubility. Procedures/Materials Needed: 1 Toothpicks 1 Sheet of white and dark paper 1 Paper towel 1 Distilled water 1 Small amounts of household cleaning products 1 Goggle-safety 1 Well-Plate-24 1 Well-Plate-96 1 Pipet, Empty Short Stem 1 Aqueous Ammonia, 1M -1mL 1 Bromthymol Blue, 0.04% – 2 mL in Pipet 1 Copper (II) Sulfate, 0.2 M – 2 mL in Pipet 1 FDC Blue Dye #-1.0.1% – 2 mL in Pipet 1 Hydrochloric Acid, 1.0M-1 mL 1 Lead (II) Nitrate, 0.2 M- 2 mL in Pipet 1 PhenolphthaleinSolution1%1mL 1 Potassium Iodide, 0.1 M-2 mL in Pipet 1 Silver Nitrate, 0.1 N – 2 mL in white Dropper Bottle 1 Sodium Bicarbonate, 1 M – 2 mL in Pipet 1 Sodium Hydroxide, 1 M – 1 mL 1 Sodium Hypochlorite, 1% – 2 mL in Pipet 1 Starch Solution, 1% Stabilized – 2 mL in Pipet 1. For the following combinations of chemicals and using a different well of the 96-well plate for each combination, place 2 pipet drops of the first in one well and add 2 drops of the second chemical. Next observe the mixtures against the white and dark backgrounds by slipping white and black paper underneath the well plate. For each reaction record the well number of the mixture and your observations. a. Sodium Bicarbonate and Hydrochloric Acid b. Hydrochloric Acid and Bromothymol Blue c. Ammonia and Bromothymol Blue d. Hydrochloric Acid and Blue Dye e. Blue Dye and Sodium Hypochlorite f. Potassium Iodide and Lead Nitrate g. Sodium Hydroxide and Phenolphthalein h. Hydrochloric Acid and Phenolphthalein i. Sodium Hydroxide and Silver Nitrate j. Silver Nitrate and Ammonia k. Ammonia and Copper Sulfate Data and Observations: Sodium Hydroxide and Silver Nitrate Silver Nitrate and Ammonia Ammonia and Copper Sulfate Hint of pink when silver added looks like brown mud Brown Sediment layer baby blue with dark layer on top. A. Suppose a household product label says it contains sodium hydrogen carbonate (sodium bicarbonate). How would you test this material for the presence of sodium bicarbonate? You would mix it with HCI and observe it for bubbles. B. You know what color phenolphthalein and Bromothymol blue turn when testing an acid or a base. Use the empty pipet in the Auxiliary Supplies Bag to test several household items including household cleaning products with Bromothymol. Name the items tested and record their results. What do these results mean? Bleach with Bromothymol Blue – Yellow and blue layer/ it separates the acid and the base. Hand Soap with Bromothymol Blue – Turned yellow which means it’s an acid. Ammonia with Bromothymol Blue – Dark blue which means it’s a base. C. You found a sample of a solution that has a faint odor of vinegar. You are verifying that is indeed vinegar and you add a few drops of phenolphthalein. The sample turns pink. What assumption can you make about this sample. When turning pink it would mean it was a basic solution meaning the solution isn’t vinegar because vinegar is an acid. D. You decided to investigate if the new wave of vitamin water is pH neutral: neither to acidic nor to basic. Using Bromothymol blue, you select five flavors of Vitamin Water to test. Three of the flavor-samples turn a murky  green, indicating the likelihood of acid/base balance. Of the two remaining, one turns slight yellow, while one remains blue. What can you assume about the acid/base content of these particular flavors of Vitamin Water. You could assume that the three were neutral, the more yellow solution was more acidic and the blue solution was basic. E. You have read that a new brand of hair tonic is supposed to contain lead (an ingredient in Grecian Formula). Devise a simple test to confirm the presence or absence of lead in that hair tonic. You could add potassium iodide and if there is lead it will precipitate. Results/Analysis: The objective of the lab was to observe the macroscopic changes that occur in chemical reactions and attempt to interrupt the macroscopic changes of the atoms and molecules that allow for the macroscopic changes to happen. This taught me how to distinguish between acids and bases, how to differentiate between one chemicals reaction to many different other chemicals when added together and what these reactions mean. Errors that could have occurred were that the drops of chemicals could have easily been different sizes, which could have made the reactions different than if everything was an even ratio. Although since we were using such small amounts of each of the chemicals I feel the reactions were quit normal. Except for the silver nitrate and ammonia, there wasn’t any reaction that was recorded because I feel we didn’t use enough chemicals. We used our observations from another lab group whose paper turned brown after some time under a light. This error could have occurred because we didn’t hold our tissue closer to the light bulb or long enough. Conclusion: This lab experiment forces an individual to think critically as to what macroscopic changes are occurring and why they are occurring. It taught us the difference between acids, bases, and neutrals, also if two specific chemicals are mixed together such as, potassium iodide and lead nitrate it will take on a precipitate form. I also learned how important ratios are in an experiment. If one chemical is greater than another, than a  completely different reaction can occur than expected. With this said it is also important for us to learn how to separate mixtures into their component substance and solubility. If specific chemicals for example, HDI were greater in ratio than the reactions could have turned out much different. All in all, the entire lab was presumably helpful and a great introduction for what’s to come in class.

Feels Like Home

Feel like Home The first few weeks I arrived in Leeds, I felt quite lonely since I arrived late and I missed out the chance to meet new friends during the fresher programs. One day I received an email from the university telling that there will be a party to welcome new and returning Muslims faith students in Leeds Grand Mosque. I knew this will be my opportunity to meet and socialize with other students that have same faith as me. Without hesitation, I highlighted the date in my diary.On the day itself, when I reached the venue, I was surprised to see the crowd that gathered in the place. It was really beyond my expectation. For one second, I hesitated to join the party because I came alone and afraid that I will be isolated from the crowd. Suddenly a friendly young lady, whom I assumed to be one of the society members, greeted me warmly at the door and invited me to come in. I saw groups of young students around my age, busy chatting and mingling around in the hall.I walked to the girls to greet them and introduce myself. They were so friendly and welcomed me to join their group. We started to talk about ourselves, random topics and made jokes. Within that short acquaintance, I slowly felt so comfortable with them and no longer felt awkward at all. All of us came from different countries, ethnicities and some of them are locals too. It was good to know that you are not the only one who is thousand miles from your home. The event started with welcome speech from the society’s representative.Then, we were being informed briefly about the upcoming events that will be held by the society throughout the year. After the short opening, we were divided into two groups to have ice breaking session. We had so much fun during the session. All of us were then later being invited to have some refreshments that had been prepared by the society. Before the event ended, we promised to meet up again for the Eid celebration a week from now. As promised, on the 26th Octo ber 2012, we gathered again in the same place for the Eid Adha celebration.This time was not only for ‘us’ but the whole Muslims faith community in Leeds. It was great to meet even more new people on that day; some of them came with their families and small children too. We had prayer together in the morning. Then, all of us had photo session before heading to the feast in our friend’s house. It was such a great experience and glad to know that we are like a ‘big family’ here in Leeds. Most of all, this kind of gathering makes you will feel like home. I am absolutely looking forward to joining more social events like this in the future.

An Analysis of Jose Corozon De Jesus Essay

Isang aklat na maputi, ang isinulat: Luha! Kaya wala kang mabasa kahit isa mang talata; Kinabisa at inisip mulang ating pagkabata; Tumanda ka’t nagkauban, hindi mo pa maunawa. Ang Pag-ibig, isipin mo, pag inisip, nasa-puso! Pag pinuso, nasa-isip, kaya’t hindi mo makuro. Lapitan mo nang matagal ang pagsuyo’y naglalaho; Layuan mo at kay-lungkot, nananaghoy ang pagsuyo! Ang Pag-ibig na dakila’y aayaw nang matagalan, Parang lintik kung gumuhit sa pisngi ng kadiliman. Ang halik na ubos-tindi, minsan lamang nahalikan, At ang ilog kung bumaha, tandaan mo’t minsan lamang. Ang Pag-ibig kapag duwag ay payapa’t walang agos, Walang talon, walang baha, walang luha, walang lunos! Ang Pag-ibig na matapang ay puso ang inaanod, Pati dangal, yama’t dunong nalulunod sa pag-irog! Ang Pag-ibig na buko pa’y nakikinig pa sa aral, Tandang di pa umiibig, nakikita pa ang ilaw, Ngunit kapag nag-alab na pati mundo’y nalimutan — Iyan, ganyan ang Pag-ibig, damdamin mo’t puso lamang! Kapag ikaw’y umuurong sa sakuna’t sa panganib Ay talagang maliwanag at buo ang iyong isip: Takot pa ang pag-ibig mo, hindi ka pa umiibig: Pag umibig, pati hukay aariin mong langit! Ang Pag-ibig ay may mata, ang Pag-ibig ay di bulag; Ang marunong umibig, bawat sugat ay bulaklak: Ang pag-ibig ay masakim at aayaw ng kabiyak; O wala na kahit ano, o ibigay mo ang lahat! â€Å"Ako’y hindi makasulat at ang Nanay ay nakabantay!† Asahan mo, katoto ko, hindi ka pa minamahal! Ngunit kapag sumulat na sa ibabaw man ng hukay, Minamahal ka na niya nang higit sa kanyang buhay! Kayong mga kabataang pag-ibig ang ninanais, Kayong mga paruparong sa ilawan lumiligid, Kapag kayo’y umiibig na, hahanapin ang panganib, At pakpak ninyo’y masusunog sa pag-ibig! Author’s Biography Jose Corazon de Jesus or â€Å"Pepito† was born in Trinity Road District of Sta. Cruz, Manila, on 22 November, 1894. He was the second son of Dr. Vicente de Jesus who was the first director of the Kawanihan ng Kalinisan, and his  mother was a kapampangan namely Mrs. Susana Pangilinan. He had twins, Vicente Jr, the elder and Rosa, the younger. In their family, Jose Corazon de Jesus is closer to his mother because he is sickly. Since childhood, Corazon de Jesus was aware in Tagalog tula, awit, korido and the books that was famous in those days like â€Å"Florante at Laura† and â€Å"San Raymundo†. And because of these literary works, the skills of Jose Corazon de Jesus in poetry began. He was also fond of singing, playing the piano, and various physical games.He attended his first schooling in the town of his father. The childhood of Jose Corazon de Jesus was full of enjoyment. After graduating in the primary level, he was transferred in Liceo de Manila, one of the most popular schools in Manila then, to continue his secondary level. When he graduated, he studied law at Escuela de Derecho. When he finished his degree in 1919 he did not take the bar exam. Instead, he continued his passion in poetry. In October of 1918, Jose Corazon de Jesus elope his girlfriend Asuncion Lakan. Their relationship brought three children; they were Teresa, Jose and Rogelio. Jose Corazon de Jesus is not only a poet and writer but also journalists. He became the writer of the newspaper â€Å"Demokrasya†, â€Å"Pagkakaisa†, â€Å"Taliba†, â€Å"Mabuhay†, at â€Å"Sampagita.† But he was well known in the field of â€Å"balagtasan† and â€Å"pagbigkas†. Until now, he is still very well known in this field. Jose Corazon de Jesus, or Huseng Batute, died at 12:02 in the afternoon, on May 26, 1932 in General Hospital because of intestinal disease. Analysis Love is a variety of different feelings, states, and attitudes that ranges from interpersonal affection to pleasure. It can refer to an emotion of a strong attraction and personal attachment. It can also be a virtue representing human kindness, compassion, and affection—†the unselfish loyal and benevolent concern for the good of another†. It may also describe compassionate and affectionate actions towards other humans, one’s self or  animals. Ancient Greeks identified four forms of love: kinship or familiarity (in Greek, storge), friendship (philia), sexual and/or romantic desire (eros), and self-emptying or divine love (agape). Modern authors have distinguished further varieties of romantic love. The question, â€Å"What is love?† has been discussed widely by those who are puzzled by this existential phenomenon. Indeed, what is love? Nowadays a lot have their own idea about love. Each has his own convictions and beliefs about love. There is love at first sight, love is sweeter in the second time around, some even describe it as blind, others say that love is in the air and love is you. Love is a word that has a broad meaning. We cannot elucidate it in just simple terms; we can just give the characteristics but not the meaning of it. Only the person that feels that he/she is in love can give the interpretation of it not by the words but by the action. In his encyclical Deus Caritas Est (2005), Pope Benedict XVI writes, â€Å"Today, the term ‘love’ has become one of the most frequently used and misused of words, a word to which we attach quite different meanings.† Love is emotions that cannot be understand by human reason but only by heart. Defining love is very hard for everyone but feeling in love is common to all men. That is why Corazon De Jesus put in his poem â€Å"Ang Pag-ibig, isipin mo, pag inisip, nasa-puso! Pag pinuso, nasa-isip, kaya’t hindi mo makuro.† In our times today, the word love is very common but somehow different in meaning when we refer to the oldest time when our lolo courting our lola. That is why many old persons are complaining about the issue of love in our new era. They say that the true meaning of the love is being destroyed. Corazon De Jesus wrote his poem about Pag-ibig to show his point of view about love in a poetical way. He has the imagery of love in his mind expresses through words. When a man is truly in love with a woman, he will do everything to get her sweet answer. Courting a girl in the older times is very difficult. To have the hand of the girl, a man must know how to get water from the well, get firewood in the forest or in the mountain and giving the girl some fruits or vegetable from his farm. However, this culture is being forgotten by the youth of today. Courting a girl in our times is very basic. It will start  from getting the cellphone number followed by date and then without a year, a boy can get the girl. Ang Pag-ibig na buko pa’y nakikinig pa sa aral, Tandang di pa umiibig, nakikita pa ang ilaw, Ngunit kapag nag-alab na pati mundo’y nalimutan — Iyan, ganyan ang Pag-ibig, damdamin mo’t puso lamang! True love is self-denials love. We cannot say that it is love if it is still in our heart, if we do not express it. A quotation says a bell is not a bell until you ring it; a song is not a song until you sing it, and love in your heart is not love until you give it away. Some of us are just contended that we are in love. We are afraid to share it in our love ones not because we do not love him/her but we are afraid of rejection. We are satisfied of being in love but we are scared to stay in love. Corazon de Jesus mentioned in his poem, â€Å"Ang Pag-ibig kapag duwag ay payapa’t walang agos, Walang talon, walang baha, walang luha, walang lunos!† We are very futuristic. We always think what will happen for tomorrow that is why we are being terrified. We think if the person we love today is still in love with us in the next day. If the lover would deny his need for affection, expressing love would soon become a burden and it would only result to different form of isolation . Man has a natural longing to complete himself by personally relating with other men, for without love, there can be no true interpersonal relations among people.1 There is often little evidence for loving; we have to trust the person we love and without faith we cannot love either God or other people. And without love, life is not worth living. As Corazon de Jesus said in his poem Kayong mga kabataang pag-ibig ang ninanais, Kayong mga paruparong sa ilawan lumiligid, Kapag kayo’y umiibig na, hahanapin ang panganib, At pakpak ninyo’y masusunog sa pag-ibig! Conclusion As a seminarian, being in loved is very important. As what Fr. Lloyd Cinco said to us in our retreat, â€Å"You cannot be a priest if you do not know how to love.† Love is a duty. Only when it is a duty to love, only then is love eternally secured against every change and happily secure against despair.  There are three things that destroy love. First are the changes in our inclinations and feelings. Second are the changes in the person we love. The last is the unhappiness, pain and suffering that can lead to despair. That is the cause why people are afraid to stay in love, because of the tribulations and hardships in the relationship. They are just contented in falling in love. People are also terrified of their obligations because love seeks security. Therefore swear an oath, swear fidelity to each other. However this oath offers nothing but a false security because the two persons who swear to love each other forever, swears by something that is lower than love itself. The two swear by their love to each other forever, instead of swearing love to each other by eternity. Therefore, both of them swear by something that could change over time. If what one feels changes, then there would be nothing that would bind their love. The only way to find true security if one is to make an oath is to swear by the duty that shall love. Spontaneous love is still subject to change because it is not consciously grounded upon eternal but depends entirely on one’s emotion and feeling. It could change into its opposite, into hate or it can become the sickness of jealousy.