Menstruation Disorders Research Paper Example | Topics and Well Written Essays - 2500 words

Monthly cycle Disorders - Research Paper Example A menstrual issue will influence the lady ordinary menstrual cycle, and the disarranges incorporate agonizing menses, anomalous substantial draining and absence of menses. Typical period will undoubtedly happen during the long periods of pubescence and menopause. Additionally alluded to as â€Å"period† involves a procedure where blood streams from the uterus to the cervix and out of the vagina. A few ladies will encounter passionate and physical manifestations during the hour of feminine cycle while another won't and such factors may disturb a woman’s typical life in various manners. It is fundamental for the conceptive matured lady to comprehend their menstrual cycles and a portion of the requests that will undoubtedly happen to have the option to forestall, oversee them and look for clinical consideration. The vast majority of these clutters have direct clarifications and medicines alternatives that exist to help in soothing the manifestations. It is fundamental for a lady encountering abnormality in their cycle to look for clinical consideration from a social insurance calling (Peacock, Alvi, and Mushtaq, 2012). Significant subjects in the exploration paper incorporate the menstrual cycle and its highlights, the menstrual issue and their hazard factors and the administration and intricacies of the hidden issue. The menstrual cycle is arranged and managed by an intricate flood of conceptive hormones that cooperate to set up the lady body and frameworks prepared for pregnancy. The districts of the body that control these hormones are the nerve center in the mind and the pituitary organ that all control six significant hormones in the body.

Explanation of the Internal Control Weaknesses †MyAssignmenthelp.com

Question: Talk about the Explanation of Internal Control Weaknesses. Answer: Presentation The business associations are viewed as indicating the clarification of the inside control shortcomings as it is being clarified for this situation. The imperativeness of the jobs are being clarified by demonstrating the improvement of the work which is delineating the acknowledgment of the shortcoming as it is being clarified by indicating the clarification of the deformities which is being clarified for this situation. The clarifications are encompassing the examination which is being made by demonstrating the clarification of the work and furthermore the articulations are made through relieving the feeble focuses as it is being utilized for indicating the clarification of the work. This is just clarifying crafted by the inward review as it is being made as the clarifications gave to this specific situation (Appannaiah, Reddy and Putty, 2010). The frameworks are viewed as indicating the proper protecting qualities as it is being clarified for this situation. This is just clarifying the structure of the investigation and furthermore it is rotating round the particular approaches that must be actualized for the advancement of the administration and the groups engaged with the work structure. The introduction of the shortcomings are viewed as demonstrating the perspectives which are outlined through clarifying the suitable structure for the administration of the fills in as embraced for the investigation. Inward Control Weaknesses The sort of the showcases made for demonstrating the portraying the kind of the provisions can be handily clarified by indicating the showing the colossal digging tools as it is being clarified in this investigation and furthermore the depiction is being made by delineating the improvement of the work by demonstrating the clarification of the focuses as gave beneath (Bragg, 2013). It is essentially clarifying the issues as distinguished in the administration which is being depicted by showing the cures of every shortcoming and are spoken to in the accompanying focuses:- Shortcoming in the executives of credit: The issue is as a rule fittingly recognized on account of the credit the executives is clarifying the subtleties by which the administration of the work can be effectively clarified. The Everyday Supplies Pty Ltd is outlining the moving consents which are being made by demonstrating the upgrade of the issues as it is being clarified for this situation. This is just clarifying the structure of the authoritative morals and furthermore the work is delineated to show the issues as it is being clarified for this situation. The dishonest lead made by the supervisor in regards to the administration of the money is outlined (Britton and Waterston, 2013). From this time forward the checking of these endeavors are turning into the critical point for indicating the administration of the providing forms with confronting the over obligation positions. This work is representing the cures which can be handily utilized for this situation for the relief of the issues as it is being introduced. The issue must be understood in that each case by the creation of some changing arranged by flexibly framework. Shortcoming in management of receivable record: The correct spotlight on the issues is being made by showing the record keeping ways which is informed on account of the Everyday supplies restricted. As the case is encompassing the purpose of the accommodating, the structure can be effectively spoken to through indicating the introduction of the work as it is being referenced for this situation (Horngren, 2013). Suitable obligation must be done by the administration for the improvement and the moderation of the issue as it is being distinguished for this situation. Shortcoming of money taking care of: The administration is indicating the suitable upgrade of the work by introducing the unseemly attempts which is being made for distinguishing the interior control estimations. The procedure of the dangers is fittingly perceived by indicating the moderation of the structures that are being utilized through demonstrating the development of the work. The wrong upgrade of the work is being made by demonstrating the viable cures and furthermore represented by indicating the inbuilt dangers present in the association (Horngren, 2014). The administration of the work are demonstrating the proper administration of the work which must be made by indicating the suitable acknowledgment of the money dealing with forms. The shortcoming of the Bookkeeping: The arrangement and introduction of the budget summary is a lot of significant which is the duty of the bookkeepers. The issues are shows the hidden tasks that it is records made by wrong judgment (Weil, 2017). The foundation of the precise information and data is so as to adjust the records so as to be increasingly significant of the investigation. The procedure isn't just the fitting estimation of the qualities yet in addition deciding the blunders and exclusions in the budget reports. The usage of the following data framework will assist with deciding and assess the issues in the budget reports (Powers and Needles, 2012). Indicating the estimation of the exact kind of exchange that are attempted for the individual issues exchanges, and simultaneously of unseemly administration ought to be so as to evacuate by usage as a stage of cure and furthermore the wrong administration must be expelled by executing this progression as a cure. It additionall y performed by empowering the fitting administration can be handily made up. The hazard the board systems ought to be actualized so as to decide and assess the hazard level. Each Supplied Pty restricted will ready to set up the budget reports in a fitting way. The issues of the exchange can be resolved and assessed for the improvement of the association (Horngren, 2014). The estimation of the qualities and readiness ought to be done in a suitable way. Therefore for the association of that individual organization of the which is fittingly develop for the development of the investigation that it is embraced in this every instance of that individual organization. Discounts: Each of the clients will be unable to utilized the post arranged by bookkeeper that is uncollectable restoration. Each organization so as to get the bookkeeper of the record of the early express that damages the coordinating standards. At the point when the bookkeepers discount the record that is uncollectible, the bookkeeper get the coordinating rules that disregards the misfortune proclamation. The uses can happen in the time of record of introductory deal damaging the coordinating rule (Schroeder, Clark and Cathey, 2011). Record receivable is alluded to the present resource that shows the due sums from the clients. In this way, in the event that the sums become uncollectible, at that point the record receivable parity become high. The receivable sum in the composing strategy is considered at the hour of the deal. The progressions influence the estimation of the asset report. The benefit limit can be a purpose behind the upgrade or lessen of the terrible cost introductio n (Libby, Libby and Short, 2014). The bookkeepers set up the records and shows the sum that is expected from the clients. In a similar period, the costs can happen that the bookkeepers need to discount on the money related position explanation. It might lead that more often than not during the later stage the poor charge charges are spoken to in an ill-advised way indicating the benefit of the pay articulation. The estimations of the thing in the budget summaries are by and large impacted in a room which is given by the discounting procedure (Chorafas, 2000). Endurance: In this budgetary record, the unprejudiced nature resources property and the lawful duty are appeared through the equalization graph. Human rights and obligation: the human rights and the obligations are administered by the properties and they are mindful to pay the charges to the organization. Next Completeness, property, liabilities and value adjusts and the report of advantages are put together by the organization in an appropriate manner and the parity diagram ought to uncover appropriately the submitted report. In appraisal and conveyance, the estimation of the property, value and the risk ought to be done and the equalization graph ought to contain the suitable valuation of the previously mentioned things. In the trial of control for money receipts: Occurrence, two clerks ought to be utilized by the organization for rolling and pulling back the check. Those two clerks will deal with the messages, balance and the recommendations identified with the installment (Kew an d Watson, 2012). The record bookkeepers ought to get the diaries identified with the business and which are arranged and posted by the bookkeepers of the organization. The whole cash which is put in the bank ought to have a legitimate record to be submitted to the bookkeepers. In the hour of affidavits all the measure of cash ought to be followed and recorded by the administration and bookkeepers of the organization. for better correspondence and the creation of the income the organization ought to plan progressively consummate equalization report the measure of cash. In light of the fiscal summary the professional interactions ought to be proceeded. End The business organization Everyday Supplies framework Pty Ltd needed to confront numerous difficulties because of the nearness of different negative focuses in their inner control framework. The issues looked by the organization can be a significant danger to the business. The exhibition of the business association and the administration assists with identifying the negative focuses in their inward control framework. The shortcoming of the internal control framework can be an explanation behind the decrease of the evaluating execution. Diverse sort of inspecting issues are shows up because of the inadequacy of the inner control and it additionally can be the clarification for the reviewing inconvenience. The development of the firm additionally can be influenced by this issue . References Appannaiah, H., Reddy, P. also, Putty, R. (2010).Financial bookkeeping. Mumbai [India]: Himalaya Pub. House. Bragg, S. (2013

Blog Archive Set the Tone Early, and Employ Active Verbs in Your MBA Application Essays

Blog Archive Set the Tone Early, and Employ Active Verbs in Your MBA Application Essays Any good journalist will tell you that the key to writing a good news story or opinion piece is to grab the reader’s attention with the very first line. Many book authors employ this same tactic. Perhaps few of us have actually read Herman Melville’s  Moby Dick, but many know that the novel begins with three famous words: “Call me Ishmael.” A powerful first line can stick with readers long after they have finished readingâ€"and sometimes even when they have not even read something firsthand. For example, we all likely recognize the statement “It was a dark and stormy night,” but few may know that it is the opening line of a book by an obscure writer (Paul Clifford  by Edward George Bulwer-Lytton). Although beginning an essay with a very short introduction is the norm, sometimes a punchy opening line can capture a reader’s attention in a useful way. Consider the differences between the following pairs of openers. Which line in each example better captures your attention? Example 1: A “Why MBA?” essay A: “After I graduate with my MBA, I want to work in the wine industry.” B: “Blood runs in the veins of all humans, but wine also runs in mine.” Example 2: A “What are you most passionate about in life?” essay A: “I enjoy nothing more than playing ice hockey.” B: “As soon as the nearby river freezes, I wake at 6 a.m. each day and join my teammates for a prework hockey scrimmage.” No set formula exists for opening linesâ€"the possibilities are endless, and each opener depends on the context of the story being told. Nonetheless, our point is that you must carefully consider your opening line, because it will set the tone for your essay and determine whether your reader will want to read more. Now let us examine the role of active verbs in your essays. Anyone who has ever written an email that has been misunderstoodâ€"let alone an MBA application essayâ€"is no doubt aware of the subtleties of language and the nuances that can change  a message’s  meaning. Indeed, you can enliven a basic sentence simply by choosing more active verbs. For example, consider the verb “earn.”  By using “earn” rather than a more passive verb in the following examples,  we can alter the meaning and impact of each sentence. Suddenly,  you  are in control. Suddenly,  you  worked hard and, as a result, accomplished great things. Passive/poor example:  â€œI was promoted from junior to senior analyst.” Active/good example:  â€œI earned a promotion from junior to senior analyst.” Passive/poor example:  â€œAfter being awarded my MBA, I will be able to…” Active/good example:  â€œAfter earning my MBA, I will be able to…” Once you have finished your application essays, review them to see how often you can replace certain words with “earn” or a similar verbâ€"such as “achieve,” “gain,” and “attain”â€"that denotes action on your part. Share ThisTweet Essays Blog Archive Set the Tone Early, and Employ Active Verbs in Your MBA Application Essays Any good journalist will tell you that the key to writing a good news story or opinion piece is to grab the reader’s attention with the very first line. Many book authors employ this same tactic. Perhaps few of us have actually read Herman Melville’s  Moby Dick, but many know that the novel begins with three famous words: “Call me Ishmael.” A powerful first line can stick with readers long after they have finished readingâ€"and sometimes even when they have not even read something firsthand. For example, we all likely recognize the statement “It was a dark and stormy night,” but few may know that it is the opening line of a book by an obscure writer (Paul Clifford  by Edward George Bulwer-Lytton). Although beginning an essay with a very short introduction is the norm, sometimes a punchy opening line can capture a reader’s attention in a useful way. Consider the differences between the following pairs of openers. Which line in each example better captures your attention? Example 1: A “Why MBA?” essay A: “After I graduate with my MBA, I want to work in the wine industry.” B: “Blood runs in the veins of all humans, but wine also runs in mine.” Example 2: A “What are you most passionate about in life?” essay A: “I enjoy nothing more than playing ice hockey.” B: “As soon as the nearby river freezes, I wake at 6 a.m. each day and join my teammates for a prework hockey scrimmage.” No set formula exists for opening linesâ€"the possibilities are endless, and each opener depends on the context of the story being told. Nonetheless, our point is that you must carefully consider your opening line, because it will set the tone for your essay and determine whether your reader will want to read more. Now let us examine the role of active verbs in your essays. Anyone who has ever written an email that has been misunderstoodâ€"let alone an MBA application essayâ€"is no doubt aware of the subtleties of language and the nuances that can change  a message’s  meaning. Indeed, you can enliven a basic sentence simply by choosing more active verbs. For example, consider the verb “earn.”  By using “earn” rather than a more passive verb in the following examples,  we can alter the meaning and impact of each sentence. Suddenly,  you  are in control. Suddenly,  you  worked hard and, as a result, accomplished great things. Passive/poor example: “I was promoted from junior to senior analyst.” Active/good example: “I earned a promotion from junior to senior analyst.” Passive/poor example: “After being awarded my MBA, I will be able to…” Active/good example: “After earning my MBA, I will be able to…” Once you have finished your application essays, review them to see how often you can replace certain words with “earn” or a similar verbâ€"such as “achieve,” “gain,” and “attain”â€"that denotes action on your part. Share ThisTweet Essays Blog Archive Set the Tone Early, and Employ Active Verbs in Your MBA Application Essays Any good journalist will tell you that the key to writing a good news story or opinion piece is to grab the reader’s attention with the very first line. Many book authors employ this same tactic. Although only a small percentage of people have actually read Herman Melville’s Moby Dick, most know that the novel begins with three famous words: “Call me Ishmael.” A powerful first line can stick with readers long after they have finished reading (and sometimes when they have not even read it!). For example, we all likely recognize the statement “It was a dark and stormy night,” but few may know that it is the opening line of a book by an obscure writer (Paul Clifford by Edward George Bulwer-Lytton). Although beginning an essay with a very short introduction is the norm, sometimes a punchy opening line can capture a reader’s attention in a useful way. Consider the differences between the following pairs of openers. Which line in each example better captures your attention? Example 1: A “Why MBA?” essay A: “After I graduate with my MBA, I want to work in the wine industry.” B: “Blood runs in the veins of all humans, but wine also runs in mine.” Example 2: A “What are you most passionate about in life?” essay A: “I enjoy nothing more than playing ice hockey.” B: “As soon as the nearby river freezes, I wake at 6 a.m. each day and join my teammates for a prework hockey scrimmage.” No set formula exists for opening linesâ€"the possibilities are endless, and each opener depends on the context of the story being told. Nonetheless, our point is that you must carefully consider your opening line, because it will set the tone for your essay and determine whether your reader will want to read more. Now let us examine the role of active verbs in your essays. Anyone who has ever written an email that has been misunderstoodâ€"let alone an MBA application essayâ€"is no doubt aware of the subtleties of language and the nuances that can change  a message’s  meaning. Indeed, you can enliven a basic sentence simply by choosing more active verbs. For example, consider the verb “earn.”  By using “earn” rather than a more passive verb in the following examples,  we can alter the meaning and impact of each sentence. Suddenly,  you  are in control. Suddenly,  you  worked hard and, as a result, accomplished great things. Passive/poor example:  â€œI was promoted from junior to senior analyst.” Active/good example:  â€œI earned a promotion from junior to senior analyst.” Passive/poor example:  â€œAfter being awarded my MBA, I will be able to…” Active/good example:  â€œAfter earning my MBA, I will be able to…” Once you have finished your application essays, review them to see how often you can replace certain words with “earn” or a similar verbâ€"such as “achieve,” “gain,” and “attain”â€"that denotes action on your part. Share ThisTweet Essays

Flowers Of The Attic, V.c. Andrews - 1188 Words

In her book, Flowers in the Attic, V.C. Andrews describes the tragic life of the Dollanganger children when their mother, Corrine, moves them to her parents’ house, Foxworth Hall, after her husband dies in a car accident. When the four children, Chris, Cathy, Cory and Carrie, arrive at Foxworth Hall, their grandmother, Olivia hides them in the attic. Olivia and Corrine must hide the children from their grandfather Malcolm, so they can still inherit his wealth. In the beginning, Corrine visits her children often, but eventually fades the children out of her life and abandons them for a new, rich husband. When Olivia oversees their care, she verbally and physically abuses them. At one point, she even pours tar in Cathy’s hair and poisons Cory with arsenic. Eventually, Chris and Cathy plan an escape, but they do not leave Foxworth Hall undamaged. As the children develop, they face various psychological and behavioral problems due to their extreme conditions. In particular, Cathy faces serious challenges in peer relationships, parent-child relationships, and sexual maturation. In the story, Cathy is not given the opportunity to development healthy peer relationships because she is trapped in an attic with only her siblings. Normally, during adolescence, teenagers begin to spend less time with their family and more time with their peers (Berk 2014). The development of friendships allows teenagers to explore themselves, develop an understanding for others, create a foundationShow MoreRelatedFlowers in the Attic by V.C. Andrews823 Words   |  3 PagesFamily history The movie Flowers in the Attic follows the Dollangangers as they try and survive the abuse perpetrated by both their mother Corrine Dollanganger who is approximately 36 years of age, and their grandmother Olivia Foxworthy, who is approximately 60 years of age. Olivia is known by the children as the grandmother. The movie opens with what looks to be a normal American family in the 1960’s with two boys Christopher Chris Dollanganger, Jr., who is approximately 16 years old, CoryRead MoreEssay about Analysis of Flowers in the Attic by V.C. Andrews1076 Words   |  5 PagesAnalysis of Flowers in the Attic by V.C. Andrews Flowers in the attic that’s what four children thought of themselves. They were born so brightly colored, but fading duller as their long dreary nightmarish days, held prisoners of hope, and kept captive by greed. The Dollengangers were a loving and happy family. Chris had meet Corrine when she was fourteen. After she turned eighteen they eloped. They had four beautiful children. They all had blond hair, blue eyes, and fair skin. ChristopherRead MoreElements Of Criticism In Flowers In The Attic820 Words   |  4 PagesIn V.C. Andrews’ novel, Flowers in the Attic, the elements of classic Gothic literature are present in profuse quantity, relating directly to the ideologies outlined in Noà «l Carroll’s The Philosophy of Horror, or, Paradoxes of the Heart. Andrew’s novel dements the ideologies of a late twentieth century America, directing her focus towards the perversion of the family unit through her incorporation of incestuous relationships and inconceivable familial abuse. The characters draw heavily on Carroll’sRead MoreWhat Do You Think Your Granny Will Be Like?1071 Words   |  5 Pageslittle Maggie feeding off it of all people. What can I do, though? We†™ve never met our mom’s mother Gertie before, so I think it’s better for her to picture an impeccable character out of a fairy tale instead of maybe a V.C Andrews villainous Grandmother from Flowers in the Attic. Well, on the bright side, will only be staying with our grandmother for our entire winter break. Then, on another note, while we re away, our feuding parents can articulate about their cookie-cutter marriage andRead MoreAnalysis Of The Book Flowers On The Attic By J.k. Rowling Essay1186 Words   |  5 Pagesalong with me being an extremely creative individual. My teenage years were long before J.K. Rowling penned the first word of the Harry Potter series and even longer before Stephenie Meyer’s had the idea for her vampire love story. V.C. Andrews’ series â€Å"Flowers in the Attic† was the most memorable and influential work I read during this period in my life. Not only was I wrapped up in the dramatic storyline, it was the longest continual story I had ever read, spanning three books. As an adult there

What Makes A Good Friendship - 1533 Words

Abstract While opposing in differences, a wide variety of perspectives merge on the fact that adolescent friendships are good for development. Research studies have shown a low status of younger adolescents being at risk for having a lot of negative outcomes, but there have been little found on the focused qualities of â€Å"youths relations with peers†. Our youths that reported that having a close relationship with someone creates higher self-esteem, it makes them create better relationships with their parents, and can even increase later on greater marital satisfaction. Furthermore, psychological distress doesn’t increase in adulthood, criminal activity has an outcome of lower increase, and research shows more positive outcomes happening. In contrast, sociodemographic qualities and level of connection shows better outlooks on adolescent friendship. Introduction Comparable questions about the effects of friends and friendships with adolescents have been discussed in abstract writings for periods. However, in most recent years, some of the questions have been answered from realistic research. Advances in recent research have shown researchers succeeding in defining exactly what a good friendship is. In much of the literature, good friendships are now defined as friendships high in quality (e.g., Berndt, 1996). In this paper I will be focusing on how friendships have an important influence on adolescent’s attitudes, behaviors, and development. Some people don’t agree,Show MoreRelated Friendship Essay: What Makes A Good Friend?965 Words   |  4 Pageson when times are tough. The dictionarys definition of a good friend is a person attached to another by feelings of affection or personal regard. A good friend is there when you are struggling. For example, when a boy breaks your heart a good friend walks you through it and offer s a shoulder to cry on. According to Bree Neff, a good friend is someone who is trustworthy, doesnt talk behind your back, listens to your problems, gives good advice and tries to lend humor along with his or her supportRead MoreAristotle on Friendship1069 Words   |  4 Pagesof friendships that exist in the Greek word philia (a broader definition of friendship than one might think), which are based off usefulness, pleasure, or goodness, the three reasons for liking something: friendships of utility, friendships of pleasure and complete friendships. In the beginning, Aristotle says that friendship is a virtue or at least involves virtue. It is necessary to life, since no one would choose to live without friends even if he had all other material goods. Friendships serveRead MoreAristotle s Nicomachean Ethics : Friendship1744 Words   |  7 PagesThe concept of friendship and what makes a friendship may seem simple depending on what people look for in friendships. Some people may h ave friendships that are solely based on pleasure or it is because it is useful to them in their time of need or a friendship that gives the person both pleasure and usefulness. A person may have these types of friendships with different people. Aristotle’s Nicomachean Ethics, brings up what the best kind of friendship is. A long-lasting friendship is the best kindRead More Nicomachean Ethics: Friendship, Virtue and Happiness Essay examples933 Words   |  4 Pages  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  In the writings of Aristotle, seen in  Nicomachean Ethics, it is evident that Aristotle believes that friendship is necessary for a virtuous and therefore happy life. I believe that this is accurate due to the similar conditions necessary for a complete friendship and a happy life. It is also evident that friendship is useful in achieving a happy life because friendship can make performing virtuous actions easier. His interpretation can be misunderstood and mistakes in practice can be madeRead MoreCicero: on Friendship Analysis Essay1045 Words   |  5 PagesB. Thomas First-Year Symposium 12 November, 2012 Cicero Aristotle once said, â€Å"Friendship is a single soul dwelling in two bodies.† There are many things that go into the process of friendship. Some people deal with friendship one way while others deal with it in another way. Cicero had a lot to say about the different aspects of friendship in his time, but how would he view modern friendship? Some friendships Cicero may not be proud of; like the common relationships that are forced on in a classroomRead MoreTaking a Look at Nicomachean Ethics957 Words   |  4 Pagesabout the three different kinds of friendship that (Utility, Pleasure, and Goodness) that Aristotle claims exist. I will also discuss later in my paper why Aristotle believes that Goodness is the best type of friendship over Utility or Pleasure. In addition to that I will also talk about the similarities and differences that these three friendships share between one another. And lastly I will argue why I personally agree with Aristotle and his feelings on how fr iendship and virtue go hand in hand andRead MoreThe Purpose Of Friendship1304 Words   |  6 PagesProfessor Baker Intro to Philosophy 13 April 2015 The Purpose of Friendship We all have friends that we enjoy spending time with, but we do not seem to think heavily as to why we have these friends. These relationships are not necessary to survival; all that is needed for our physical body to survive is food and water, yet people want to create long-lasting friendships with people they cherish. In his work, Lysis, Plato says that that friendship is the least of natural loves, ones which we do not needRead MoreFriendship1166 Words   |  5 Pagesin every child’s life. They are there to comfort, to laugh with, and to create wonderful memories My Friendships have played an extremely important role in my life. I do not know where I would be without my friendships.   Friends to me are the people you know and enjoy being around and talking to. There are the best friends that are usually closer than the others and you are always with. What I find most important is being able to laugh at anything with them and share common interests in humorRead MoreVirtue is a Necessary Feature of Friendship871 Words   |  4 PagesFriendship offers a basic good that is necessary in human life. But to what extent, if any, is virtue a necessary feature of a true friendship? A popular view, and one I agree with, is the highly moralized view, according to Cocking and Kennett, â€Å"friendship is an essential vehicle for moral development and improvement † (Cocking and Kennett, 280). In order to argue my view that virtue is a necessary feature, I will discuss Aristotle’s view of the best kind of friendship, reconstruct Cocking Kennett’sRead MoreThe Importance Of Friendship883 Words   |  4 PagesThomas Aquinas states, â€Å"There is nothing on this earth more to be prized than true friendship†. In everybody life, there are many things and friendship may be one of the most important. Friendship is a very wonderful thing and, it is one secret of the happiness secrets in life. Everyone agrees that friendship adds a special flavor to life and that with friends we spend the most beautiful times and the most beautiful moments of life. It is not limited to individuals but also between peoples, nations

Short Story - 772 Words

what are you doing dex? runner bear hugged me from behind. thinking about kicking you in the nuts why? he screamed and ran behind blade Dont let her do this to me blade!!! runner clutched onto blades shirt. We need to start training the pack. Were about to attack on the biggest murdering pack in the world. I circle the castle like pack house on the map. Who is the alpha dex? The king.. my voice goes dry. WHAT ARE YOU FUCKING INSANE!? runner screams at me. Blade nodding in agreement. The king is the only alpha that I fear. The stories of all that he did.. killing children, families for power. Mason fane. hello earth to Dex? blade snapped at me. we will go tonight, scout around. Rosie will stay here. I didnt†¦show more content†¦Dex damnnnnn runner whistled. will you shut up? blade punched him in the arm. we ready to ride? I walk to the garage which is giant , filled with nice cars with pretty colors. Not me though i hop on my baby a black Ducati since I was the leader I got choice of what car I wanted or whatever so I got a sexy beast. We drove for 3 hours till we got to a small diner on the outside of georgia. Im starving.. I moan. Youre always hungry honeybuns blade patted my back. Then feed me!!!!! I yelled. As blade threw me over his shoulder and walked In the diner. He threw me in the booth. He sat beside me and runner sat across from us. I want waffles,eggs,hash browns,and bacon lots and lots of bacon. I lick lips. Runner laughs and blade just shakes his head. Dex something is wrong very wrong. I smell a Rouge. Jinx panicked. Where? I looked around and of course there were 5 rogues outside sniffing our cars. I mind linked blade he was one of the few who were Werewolfs like me. *rouges outside* *fucking great lets go get em dex* He stood up and I followed behind him runner was in the restroom so he didnt have to fight. He was the baby of us three it was blade because he was the oldest even tho Im the leader Im the middle kid and runner is the youngest of us. Were a fucked family as blade and Rosie say. We walked out side and THEY SCRATCHED MY BIKE! I ran and grabbed the first Rouge and snappedShow MoreRelatedshort story1018 Words   |  5 Pagesï » ¿Short Stories:  Ã‚  Characteristics †¢Short  - Can usually be read in one sitting. †¢Concise:  Ã‚  Information offered in the story is relevant to the tale being told.  Ã‚  This is unlike a novel, where the story can diverge from the main plot †¢Usually tries to leave behind a  single impression  or effect.  Ã‚  Usually, though not always built around one character, place, idea, or act. †¢Because they are concise, writers depend on the reader bringing  personal experiences  and  prior knowledge  to the story. Four MajorRead MoreThe Short Stories Ideas For Writing A Short Story Essay1097 Words   |  5 Pageswriting a short story. Many a time, writers run out of these short story ideas upon exhausting their sources of short story ideas. If you are one of these writers, who have run out of short story ideas, and the deadline you have for coming up with a short story is running out, the short story writing prompts below will surely help you. Additionally, if you are being tormented by the blank Microsoft Word document staring at you because you are not able to come up with the best short story idea, youRead MoreShort Story1804 Words   |  8 PagesShort story: Definition and History. A  short story  like any other term does not have only one definition, it has many definitions, but all of them are similar in a general idea. According to The World Book Encyclopedia (1994, Vol. 12, L-354), â€Å"the short story is a short work of fiction that usually centers around a single incident. Because of its shorter length, the characters and situations are fewer and less complicated than those of a novel.† In the Cambridge Advanced Learner’s DictionaryRead MoreShort Stories648 Words   |  3 Pageswhat the title to the short story is. The short story theme I am going conduct on is â€Å"The Secret Life of Walter Mitty’ by James Thurber (1973). In this short story the literary elements being used is plot and symbols and the theme being full of distractions and disruption. The narrator is giving a third person point of view in sharing the thoughts of the characters. Walter Mitty the daydreamer is very humorous in the different plots of his dr ifting off. In the start of the story the plot, symbols,Read MoreShort Stories1125 Words   |  5 PagesThe themes of short stories are often relevant to real life? To what extent do you agree with this view? In the short stories â€Å"Miss Brill† and â€Å"Frau Brechenmacher attends a wedding† written by Katherine Mansfield, the themes which are relevant to real life in Miss Brill are isolation and appearance versus reality. Likewise Frau Brechenmacher suffers through isolation throughout the story and also male dominance is one of the major themes that are highlighted in the story. These themes areRead MoreShort Story and People1473 Words   |  6 Pagesï » ¿Title: Story Of An Hour Author: Kate Chopin I. On The Elements / Literary Concepts The short story Story Of An Hour is all about the series of emotions that the protagonist, Mrs. Mallard showed to the readers. With the kind of plot of this short story, it actually refers to the moments that Mrs. Mallard knew that all this time, her husband was alive. For the symbol, I like the title of this short story because it actually symbolizes the time where Mrs. Mallard died with joy. And with thatRead MoreShort Story Essay1294 Words   |  6 PagesA short story concentrates on creating a single dynamic effect and is limited in character and situation. It is a language of maximum yet economical effect. Every word must do a job, sometimes several jobs. Short stories are filled with numerous language and sound devices. These language and sound devices create a stronger image of the scenario or the characters within the text, which contribute to the overall pre-designed effect.As it is shown in the metaphor lipstick bleeding gently in CinnamonRead MoreRacism in the Short Stor ies1837 Words   |  7 PagesOften we read stories that tell stories of mixing the grouping may not always be what is legal or what people consider moral at the time. The things that you can learn from someone who is not like you is amazing if people took the time to consider this before judging someone the world as we know it would be a completely different place. The notion to overlook someone because they are not the same race, gender, creed, religion seems to be the way of the world for a long time. Racism is so prevalentRead MoreThe Idol Short Story1728 Words   |  7 PagesThe short stories â€Å"The Idol† by Adolfo Bioy Casares and â€Å"Axolotl† by Julio Cortà ¡zar address the notion of obsession, and the resulting harm that can come from it. Like all addictions, obsession makes one feel overwhelmed, as a single thought comes to continuously intruding our mind, causing the individual to not be able to ignore these thoughts. In â€Å"Axolotl†, the narr ator is drawn upon the axolotls at the Jardin des Plantes aquarium and his fascination towards the axolotls becomes an obsession. InRead MoreGothic Short Story1447 Words   |  6 Pages The End. In the short story, â€Å"Emma Barrett,† the reader follows a search party group searching for a missing girl named Emma deep in a forest in Oregon. The story follows through first person narration by a group member named Holden. This story would be considered a gothic short story because of its use of setting, theme, symbolism, and literary devices used to portray the horror of a missing six-year-old girl. Plot is the literal chronological development of the story, the sequence of events

Woolworths Integrated Marketing Communication Plan

Question: Describe about the Woolworths Integrated Marketing Communication (IMC) Plan for Global Market. Answer: Introduction Integrated marketing communication is an essential part in the process of the organizations pursuit to increase the market share, introduction of new product to the market and increasing the sales volume. When the plan is designed based on the identified needs and implemented very well, then the organization will not regret on the actions taken. It is with this view that the following sections will give in details the IMC plan with Woolworths being the organization in consideration. Communication Objectives The objective of the campaign is to promote Woolworths products to the international market, to increase customer base, to increase sales volume Positioning Strategy The positioning strategy is a technique that gets employed so as to make a brand have a distinct place in the market. It is a strategy that gets utilized so that marketing is effective. It entails the identification of points and parity of differentiation that allows the product to meet standards as well as presenting products of added value based on price, quality, functionality and innovation aspects (Blankson, Kalafatis, Cowan Singh, 2012). Niche Identification In consideration of Woolworths and the plan to enter into the global market, it is suggested that the organization begin with the identification of the niche in the market segment. In order to get the niche, the organization has to segment the market based on demographics and psychographic so as to know the needs of each segment (Wong Wu, 2013). The niche that the organization has to target is professionals of age between 25-30 years since these are the group with particular attributes like entertainment, leisure and adventure. In doing this the organization need to watch on the competitors elements of positioning strategies (Blankson, Kalafatis, Cowan Singh, 2012). In order to have an effective positioning, the organization must have clear message. The message that the organization have selected is Fresh Food People. The message implies that the organizations products are fresh and meant for people. This must be communicated via an appropriate channel so as to reach targeted segment that the organization are giving fresh products that are consumable (Wang, Xie, Jagpal Yeniyurt, 2016). Price-Quality Strategy The strategy that is suggested for positioning is the price-quality approach. The organization must set their prices on the new product such that it is favorable to the customers and that the price does earn some proceeds to the organization (Simola, Hyn Kuisma, 2015). The price that is affordable will keep customers running for the product. In tandem with the price is quality, the organization must ensure that alongside the favorable price, the product must be of quality (Wong Wu, 2013). The aspect of quality when augmented with price that is affordable makes customers loyal to the price. The customer base get to increase and in the end the sales volume goes high thus translating to high proceeds (Hollensen, 2015).. Additionally, the two aspects of quality and price thus lead to the curving of a niche that can never be broken by the competitors (Blankson, Kalafatis, Cowan Singh, 2012). Customer Value The other strategy that the organization has to adopt for positioning is the customer value approach. The new product to be introduced into the market must be made such that it is of beneficial value to the customer. When communicating the message concerning the product, the marketing team has to include all these benefits so that the customers are aware of the new features that the organization has included in the new product (Wang, Xie, Jagpal Yeniyurt, 2016). Value is made the same amount of by an emphasis on procedures and frameworks as much as it is by attitude and culture. Outlook and culture are considerably more hard to change, furthermore hard to copy. It is less demanding to duplicate items and frameworks than to change attitudes and culture. Thusly, for long haul achievement, outlook and culture are vital and enduring. These, alongside frameworks make awesome experience and esteem. Esteem changes amid the utilization of an item or amid the Customer Journey. Esteem is seen amid the buy purpose, the shopping, the real buy or purchasing, the establishment or start-up, the utilization and even the re-deal. We infrequently call this the waterfall of necessities. Needs change amid the Customer Journey. Making Customer Value builds consumer loyalty and the client encounter. The turn around is likewise valid. A decent client experience will make esteem for a Customer. Making better advantages versus cost expands faithfulness, piece of the overall industry, cost, decreases mistakes and builds effectiveness. Higher piece of the overall industry and better productivity prompts higher benefits. Communication Strategy Mix The strategy refers to the techniques that the organization will use in order to promote the product that is to be taken to the targeted segment. The organization in entering into the international market will employ the following enumerated strategies (Quirke, 2012). Advertising The strategy is one of the most employed techniques in the communication mix. It encompasses all the messages that an organization pays so as to make the information get to the targeted segment. The organization has to spend a sizeable amount of finances on the form of communication. Therefore in the initial planning stage, the organization set reasonable finances for the strategy. Irrespective of the fact that this type of strategy is expensive, it is one where the organization has complete control of the delivered information. Also, the message reaches a wider spectrum of customers in the target segment and hence very effective (Parente Strausbaugh-Hutchinson, 2014). Personal Selling It is a strategy where the organization opts to sell its product to the customers on face to face basis. It is done concurrently with direct marketing. The advantage of the method is the customers are able to meet face to face with the sellers, the product being sold can be demonstrated to the customers on the spot, there is direct meeting with the customers hence one can have a feel of the target segment and be in a position to advice accordingly. The seller is able to place emphasis on the value of the product as well as the benefits that a client can enjoy from buying the product (Helm, Gritsch, 2014). Discounts and Promotions The product under this strategy gets promoted with the use of paid communication. The organization through the strategy pays the communication so that clients are able to know on the discounts and promotions that the organization presents. The strategy consists of coupons rebates or percent-off deals. Additionally, the organization uses in-store signage and exterior signs as a way of alerting customers to the offered deals. The aim of the strategy is to increase proceeds as well as the flow of cash, attract customers and clearing unfinished stock. The strategy is efficient when well executed through proper planning and get to attract large customers (Parente Strausbaugh-Hutchinson, 2014). Public Relations This is the strategy in which the organization creates a positive image of the organization through good passage of the organizations products to the target market. It entails use of good personal relationship between the customers and the organization. The method is different from the others in that one does not pay for the passage of information. The disadvantage of the method is that one does not have control of the message. If the media is used as a form of propagation of the message, the message can in most cases be changed and distorted in a negative manner to the target market and hence causing a negative impact in the market segment (Quirke, 2012). Event Sponsorship The strategy is a component in the marketing mix. It is where an organization pays for a function in order to have some presence in the event that will happen for example in sports. There are benefits that come with the use of event sponsorship like giving out samples, gifts etc. (Quirke, 2012). Sponsorship of occasions can be particularly successful as a promoting technique since it can be used for getting to an extensive variety of customers. It can be especially valuable for organizations that participate in worldwide events, since sponsorship rises above social and dialect hindrances. Given the affinity of buyers to partner supports with the occasion they advance, it is critical for organizations to choose occasions that are suitable with their itemor corporate picture (Parente Strausbaugh-Hutchinson, 2014). A developing number of advertisers presume that corporate sponsorship is more than any strategies as it gives chances to measure client reaction to items promptly. Occasions permit entrepreneurs relate straightforwardly with their clients, while they give clients the chance to experiment with the results of an organization firsthand. In examination, promoting research techniques, for example, center gatherings are typically exorbitant and may not concentrate on the right sort of individuals, while advertise studies or surveys generally don't permit forthcoming clients the chance to experiment with items (Nissa Mishra, 2016). The type of promotion is effective since it allows in the access of a bigger population and particularly to the organizations that take part in big events. The functions allow owners of business to relate directly with consumers, present the opportunity to the clients to taste the product. It creates high visibility dues publicity that is positive which raises the visibility as well as wide exposure (Jha et al., 2016). Media Mix Digital Media The type of media mix entails the use of digital signs encoded so that it represents the message. It is created with the aim of passing messages concerning the product to the segment that is targeted. The organization with the use of this strategy will increase the level of playing field such that any competitor will never meet the standards of the organization. Besides this, the organization can pass the message with little cost since it is cheap. Additionally, it is cheap to measure. The number of traffics that come in contact with the message is easily determined and hence the number of visitors checking the product. Also, the organization is able to get results on real time by monitoring on the number of customers attracted to the product (Percy Rosenbaum-Elliott, 2016). With the online real time results, the organization is able to refine its strategy with the aim of attracting more customers to the organizations products. It implies that the organization is able to measure and determine focused returns in a given period of time. The organization can as well develop the brand based on the customers visiting the site by adding value. This will present significant value leading the creation of market opportunities since there is great exposure to the product (Nissa Mishra, 2016). Print Media It is recommended that Woolworth adopts this they of strategy in communicating to the customer owing to the many benefits that come with this type of media mix. This is the form of strategy where message get passed to the customers with the use of printed materials on the paper. The approach is proposed for Woolworth because it tangible. Customers like real content that they feel and have in their hands. The strategy has the ability to trigger feeling of sense, smell etc especially when the paper used can change color when subjected to certain forms of environments (Pouya, 2015). The media is efficient and effective in that it can be made in different sizes and can as well pass information to a larger part of the customers. It creates engagement via attracting attention and is trusted by larger part of the population. The method offers the chance to store the media so that information gets retrieved when needed. In the media, different type of messages can be included: education, news, inspiration offer and entertainment (Jha et al., 2016) Social Media This is a type of media mix where an organization uses any form of social sites in the promotion of their products. There are many forms of social media such as Face book, Twitter among others. The advent of technology made it possible for the growth of the media (Nissa Mishra, 2016). The organization will use these media mix because it has the potential on increasing brand awareness and cost effective since the only requirement for the organization is the creation of the company profile. Also, social media has the potential of increasing inbound traffic and hence assist the organization to get customers even those who are not loyal to the product. This is possible by syndicating the content in many platforms and this will allow people not loyal to reach the organizations product (Nissa Mishra, 2016). Through the social media, the organization can improve its ranking on the web with the use of optimization engine. The social media has the capability of examining the state of over 58% marketers who were using the social media for the past one year (Nissa Mishra, 2016). The use of social media makes and increase customer satisfaction. There is customization of messages and clients are able to comments and ask for suggestion or information concerning a product. Hence through feedback, customers get satisfied as they get direct interaction with the organizations information page (Jha et al., 2016) Brand loyalty is created and improved. When customers get the right information concerning the product, they get to know all the features and benefits that a product presents. This gives the client the affinity to the product and hence making him/her loyal to the product. The strategy is cost effective since there no initial costs that get incurred and hence cheap and through the social media, the needs as well as the thoughts of the customer get known. The information obtained from the customer assist in lying up better strategies for penetration to the market (Nissa Mishra, 2016). Budget Concepts MEDIA COST ($) Advertising 17,000 Personal Selling 5,000 Discounts and Promotion 10,000 Event Sponsorship 15,000 Digital Media 6,000 Print Media 4,000 Total 57,000 Evaluation Metrics The evaluation metrics that the organization will employed in order to assess the market are described below: ROAS This Return On Advertising Spend and utilized in order to know the profits that can be attained through promotion by giving the best marketing channel as well as the target segment for a product. It is calculated with the use of the formula: ROAS = (Ad revenue/ Cost of ad source). ROI This is Return on Investment which indicates the effectiveness together with the value investment. It as well indicates the losses and assists in assessing the level effectiveness of a promotion strategy. It is given by- ROI = (Net Profit / Cost of Investment) x 100. Customer Retention Rate This is another technique that determines customers to ascertain whether they are loyal to the product, if the company is attracting new clients and retaining old clients. It is given by: Customer Retention Rates = (Customers End Period New Customers for this Period) / Customers at Start of the Period x 100 Sales Numbers Based on the number of sales, an organization is able to know whether the promotion undertaken was effective or not. It is possible by comparing the sales of previous period prior to promotion and the sales of the period from which the campaign was done. Customer Response When a feedback mechanism is entrenched in the promotion plan, then feedback can be obtained and analyzed. The number and nature of feedback can tell whether the plan was successful or not. Market Research Research can be undertaken on brand loyalty prior to campaign and at the same time undertake after the campaign and then the results be analyzed and reports to get the results. In comparing the two, one is able to tell the impact of the campaign. Conclusion/Summary With the objective of the report under consideration, the positioning strategy is a technique that gets employed so as to make a brand have a distinct place in the market. It is a strategy that gets utilized so that marketing is effective. It entails the identification of points and parity of differentiation that allows the product to meet standards as well as presenting added value. Communication strategy gets used in order to promote the product that is to be taken to the targeted segment. The organization in entering into the international market will employ the following enumerated strategies Media mix entails the use of digital signs encoded so that it represents the message. It is created with the aim of passing messages concerning the product to the segment that is targeted. Print the form of strategy where message get passed to the customers with the use of printed materials on the paper. The approach is proposed for Woolworth because it tangible. Customers like real content that they feel and have in their hands. The use of social media makes and increase customer satisfaction. There is customization of messages and clients are able to comments and ask for suggestion or information concerning a product. Hence through feedback, customers get satisfied as they get direct interaction with the organizations information page. Recommendations The organization must have clear message together with the message that the organization have selected. The strategy that is suggested for positioning is the price-quality approach. The organization must set their prices on the new product such that it is favorable to the customers and that the price does earn some proceeds to the organization. The price that is affordable will keep customers running for the product. In tandem with the price is quality, the organization must ensure that alongside the favorable price, the product must be of quality. The organization has to adopt for positioning is the customer value approach. The new product to be introduced into the market must be made such that it is of beneficial value to the customer. The organization has to spend a sizeable amount of finances on the advertising form of communication. Therefore in the initial planning stage, the organization set reasonable finances for the strategy. The organization ought to employ discount and promotion strategy so that clients are able to know the discounts and promotions that the organization presents. The strategy consists of coupons rebates or percent-off deals. It is where an organization ought to under event sponsorship in order to have some presence in the event that will happen for example in sports. There are benefits that come with the use of event sponsorship like giving out samples, gifts etc. The organization with the use of digital strategy will increase the level of playing field such that any competitor will never meet the standards of the organization. It is recommended that Woolworth adopts this they of strategy in communicating to the customer owing to the many benefits that come with this type of media mix. The media is efficient and effective in that it can be made in different sizes and can as well pass information to a larger part of the customers. It creates engagement via attracting attention and is trusted by larger part of the population. The method offers the chance to store the media so that information gets retrieved when needed. In the media, different type of messages can be included: education, news, inspiration offer and entertainment. The organization ought to use media mix because it has the potential on increasing brand awareness and cost effective since the only requirement for the organization is the creation of the company profile. Also, social media has the potential of increasing inbound traffic and hence assist the organization to get customers even those who are not loyal to the product. This is possible by syndicating the content in many platforms and this will allow people not loyal to reach the organizations product. References Blankson, C., Kalafatis, S., Cowan, K., Singh, J. (2012). Market orientation and positioning strategy: review and propositions.Thriving in a New World Economy, 131. Business2community, (2016). digital-marketing. Retrieved from https://www.business2community.com/digital-marketing/5-digital-advertising-strategies-using-01221408#eUElKXEHrkhR8Biv.99 Helm, R., Gritsch, S. (2014). Examining the influence of uncertainty on marketing mix strategy elements in emerging business to business export-markets.International Business Review,23(2), 418-428. Hollensen, S. (2015).Marketing management: A relationship approach. Pearson Education. Jha, P. C., Aggarwal, S., Gupta, A., Sarker, R. (2016). Multi-criteria media mix decision model for advertising a single product with segment specific and mass media.Journal of Industrial and Management Optimization,12(4), 1367-1389. Nissa, R. U., Mishra, P. (2016). New Media Content Mix of Popular Category of Products Advertised: A Brief Study.International Journal of Business and Management,11(10), 252. Parente, D., Strausbaugh-Hutchinson, K. (2014).Advertising campaign strategy: A guide to marketing communication plans. Cengage Learning. Percy, L., Rosenbaum-Elliott, R. (2016).Strategic advertising management. Oxford University Press. Pouya, A. (2015). The Role of Communication Mix Technologies in Border Trade Zones: A Case Study in Baneh, Kurdistan.European Online Journal of Natural and Social Sciences: Proceedings,4(1 (s)), pp-2333. Quirke, M. B. (2012).Making the connections: using internal communication to turn strategy into action. Gower Publishing, Ltd.. Simola, J., Hyn, J., Kuisma, J. (Eds.). (2015).Perception of visual advertising in different media: from attention to distraction, persuasion, preference and memory. Frontiers Media SA. Wang, X. S., Xie, Y., Jagpal, H. S., Yeniyurt, S. (2016). Coordinating RD, Product Positioning, and Pricing Strategy: A Duopoly Model.Customer Needs and Solutions,3(2), 104-114. Wong, I. A., Wu, J. S. (2013). Understanding casino experiential attributes: An application to market positioning.International Journal of Hospitality Management,35, 214-224.

Shakespeares presentation of Cleopatra Essay Example

Shakespeares presentation of Cleopatra Paper Cleopatra has been described as both an enchanting Queen and triple-turned whore. Examine Shakespeares presentation of Cleopatra and how a modern audience might respond to her. In Antony and Cleopatra, written around 1606, according to Wells and Taylor, it is apparent that it is characterised by informality and decadence and this may be a reflection of the times. Audiences might have wanted or expected such things and the dramatist merely complied with current tastes. Drama was the prime means of public entertainment during Shakespeares time. To go and watch a Shakespeare play was a form of escapism for his audiences. They escaped into another world and would be fascinated by the plays Shakespeare produced. Cleopatra was an especially fascinating character for the Jacobean audience because she was controversial, shocking and challenging. The Jacobean people were predominantly devout Catholics and Protestants, they wouldnt have practiced monogamy, adultery and more than one sexual partner would have been disgraceful. Women were by far the lesser sex; however this status was acknowledged, they may have seen it as customary and it was generally accepted by most women. The audiences would have been very shocked by the behaviour of Cleopatra although it was to be expected; she represented an opposite of how their women acted; she had a lot of control and her relationships with the several men she courted were all sexual. She had ultimate control over which men she chose to love and the fortunate gentleman she loved were under her command. A distressing part of Cleopatras character for them socially and morally; was that she was very erotically charged and had a lust for love. To glow the delicate cheeks which they did cool, And what they undid did. This tells us that as her servants tried to cool her down only the opposite would happen, and her lust and passion kept heating her body more. This would have been fascinating and astonishing for them. We will write a custom essay sample on Shakespeares presentation of Cleopatra specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Shakespeares presentation of Cleopatra specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Shakespeares presentation of Cleopatra specifically for you FOR ONLY $16.38 $13.9/page Hire Writer In the first three acts Shakespeare presents Cleopatras character to fulfil the expectations of the Jacobean sterotype for her. The first act of the play opens with Philos, one of Antonys Romans addressing Demetrius, he talks of Antonys love for Cleopatra as being nothing more than a pointless infatuation which is damaging Antonys former greatness. Making it obvious that the Romans disapprove of Cleopatra, this is emphasised when Antony and Cleopatra enter, and he tells Demetrius to take note of the triple pillar of the world transformed/into a strumpets fool. This gives the audience the immediate impression of the power Cleopatra has over Antony which is emphasised on several occasions throughout the play. Cleopatra is first shown to us in her court, provocative and teasing towards Antony, testing him already to see where his loyalties and affections lie: Wheres Fulvias process? Caesars would I say? Both. Call in the messengers. As I am Egypts Qqueen.. When the messenger enters with news for Antony, her manipulative persuasion leads Antony to dismiss him and leave with her. Anthony In the Jacobean era, Antony and Cleopatra must have been shocking. The thought that a woman could have that kind of control over a Triumvir, a man of explosive power and privilege, was outrageous. At the time the play was written, Queen Elizabeth I was on the throne. In normal circumstances, this would have been seen as an outrageous act- giving a woman such power. However Elizabeth behaved much like her male counterparts, fighting in war and leading a life of celibacy. Cleopatra did not behave like a queen. She used her power to play games, she flaunted her wealth and laughed at those who scorned her. She was not proper and not right. But I feel it was also probably very satisfying to see. For once a woman was not only an equal but a superior and she manipulated a man to get her way. Antony and Cleopatra was successful because it was entertaining, because it was new and foreign. People didnt have to accept it because it was art, it was okay to enjoy this without worrying about how factual it was. Also this was a different culture. Cleopatra could be passed off as a foreigner without self control. She was not a threat because she was an Egyptian and did not endanger the English way of life. Actors on the Shakespearean stage were often youths. Boys with high-pitched voices were trained from early years to take womens parts, they were capable of playing the mature women since females were not allowed on Elizabethan stage, most difficult for a boy to play a mature, but still sexy woman such a Cleopatra. This technique was adopted for characters in Hamlet and Macbeth.

Extreme conditional value at risk a coherent scenario for risk management The WritePass Journal

Extreme conditional value at risk a coherent scenario for risk management CHAPTER ONE Extreme conditional value at risk a coherent scenario for risk management CHAPTER ONE1. INTRODUCTION1.1.BACKGROUND1.2   RSEARCH PROBLEM1.3   RELEVENCE OF THE STUDY1.4   RESEARCH DESIGNCHAPTER 2: RISK MEASUREMENT AND THE EMPIRICALDISTRIBUTION OF FINANCIAL RETURNS2.1   Risk Measurement in Finance: A Review of Its Origins2.2   Value-at-risk (VaR)2.2.1 Definition and concepts2.2.2 Limitations of VaR2.3   Conditional Value-at-Risk2.4   The Empirical Distribution of Financial Returns2.4.1   The Importance of Being Normal2.4.2 Deviations From NormalityCHAPTER 3: EXTREME VALUE THEORY: A SUITABLE AND ADEQUATE FRAMEWORK?1.3. Extreme Value Theory3.1. The Block of Maxima Method3.2.  Ã‚   The Generalized Extreme Value Distribution3.2.1. Extreme Value-at-Risk3.2.2.   Extreme Conditional Value-at-Risk (ECVaR): An Extreme Coherent Measure of RiskCHAPTER 4: DATA DISCRIPTION.CHAPTER 5: DISCUSION OF EMPIRICAL RESULTSCHAPTER 6: CONCLUSIONS  References Related CHAPTER ONE 1. INTRODUCTION Extreme financial losses that occurred during the 2007-2008 financial crisis reignited questions of whether existing methodologies, which are largely based on the normal distribution, are adequate and suitable for the purpose of risk measurement and management. The major assumptions employed in these frameworks are that financial returns are independently and identically distributed, and follow the normal distribution. However, weaknesses in these methodologies has long been identified in the literature. Firstly, it is now widely accepted that financial returns are not normally distributed; they are asymmetric, skewed, leptokurtic and fat-tailed. Secondly, it is a known fact that financial returns exhibit volatility clustering, thus the assumption of independently distributed is violated. The combined evidence concerning the stylized facts of financial returns necessitates the need for adapting existing methodologies or developing new methodologies that will account for all the stylised facts of financial returns explicitly. In this paper, I discuss two related measures of risk; extreme value-at-risk (EVaR) and extreme conditional value-at-risk (ECVaR). I argue that ECVaR is a better measure of extreme market risk than EVaR utilised by Kabundi and Mwamba (2009) since it is coherent, and captures the effects of extreme markets events. In contrast, even though EVaR captures the effect of extreme market events, it is non-coherent. 1.1.BACKGROUND Markowitz (1952), Roy (1952), Shape (1964), Black and Scholes (1973), and Merton’s (1973) major toolkit in the development of modern portfolio theory (MPT) and the field of financial engineering consisted of means, variance, correlations and covariance of asset returns. In MPT, the variance or equivalently the standard deviation was the panacea measure of risk. A major assumption employed in this theory is that financial asset returns are normally distributed. Under this assumption, extreme market events rarely happen. When they do occur, risk managers can simply treat them as outliers and disregard them when modelling financial asset returns. The assumption of normally distributed asset returns is too simplistic for use in financial modelling of extreme market events. During extreme market activity similar to the 2007-2008 financial crisis, financial returns exhibit behavior that is beyond what the normal distribution can model. Starting with the work of Mandelbrot (1963) there is increasingly more convincing empirical evidence that suggest that asset returns are not normally distributed. They exhibit asymmetric behavior, ‘fat tails’ and high kurtosis than the normal distribution can accommodate. The implication is that extreme negative returns do occur, and are more frequent than predicted by the normal distribution. Therefore, measures of risk based on the normal distribution will underestimate the risk of portfolios and lead to huge financial losses, and potentially insolvencies of financial institutions. To mitigate the effects of inadequate risk capital buffers stemming from underestimation of risk by normality-based financial modelling, risk measures such as EVaR that go beyond the assumption of normally distributed returns have been developed. However, EVaR is non-coherent just like VaR from which it is developed. The implication is that, even though it captures the effects of extreme mar ket events, it is not a good measure of risk since it does not reflect diversification – a contradiction to one of the cornerstone of portfolio theory. ECVaR naturally overcomes these problems since it coherent and can capture extreme market events. 1.2   RSEARCH PROBLEM The purpose of this paper is to develop extreme conditional value-at-risk (ECVaR), and propose it as a better measure of risk than EVaR under conditions of extreme market activity with financial returns that exhibit volatility clustering, and are not normally distributed. Kabundi and Mwamba (2009) have proposed EVaR as a better measure of extreme risk than the widely used VaR, however, it is non-coherent. ECVaR is coherent, and captures the effect of extreme market activity, thus it is more suited to model extreme losses during market turmoil, and reflects diversification, which is an important requirement for any risk measure in portfolio theory. 1.3   RELEVENCE OF THE STUDY The assumption that financial asset returns are normally distributed understates the possibility of infrequent extreme events whose impact is more detrimental than that of events that are more frequent. Use of VaR and CVaR underestimate the riskiness of assets and portfolios, and eventually lead to huge losses and bankruptcies during times of extreme market activity. There are many adverse effects of using the normal distribution in the measurement of financial risk, the most visible being the loss of money due to underestimating risk. During the global financial crisis, a number of banks and non-financial institutions suffered huge financial losses; some went bankrupt and failed, partly because of inadequate capital allocation stemming from underestimation of risk by models that assumed normally distributed returns. Measures of risk that do not assume normality of financial returns have been developed. One such measure is EVaR (Kabundi and Mwamba (2009)). EVaR captures the effect of extreme market events, however it is not coherent. As a result, EVaR is not a good measure of risk since it does not reflect diversification. In financial markets characterised by multiple sources of risk and extreme market volatility, it is important to have a risk measure that is coherent and can capture the effect of extreme market activity. ECVaR   is advocated to fulfils this role of ensuring extreme market risk while conforming to portfolio theory’s wisdom of diversification. 1.4   RESEARCH DESIGN Chapter 2 will present a literature review of risk measurement methodologies currently used by financial institutions, in particular, VaR and CVaR. I also discuss the strengths and weaknesses of these measures. Another risk measure not widely known thus far is the EVaR. We discuss EVaR as an advancement in risk measurement methodologies. I advocate that EVaR is not a good measure of risk since it is non-coherent. This leads to the next chapter, which presents ECVaR as a better risk measure that is coherent and can capture extreme market events. Chapter 3 will be concerned with extreme conditional value-at-risk (ECVaR) as a convenient modelling framework that naturally overcomes the normality assumption of asset returns in the modelling of extreme market events. This is followed with a comparative analysis of EVaR and ECVaR using financial data covering both the pre-financial crisis and the financial crisis periods. Chapter 4 will be concerned with data sources, preliminary data description, and the estimation of EVaR, and ECVaR. Chapter 5 will discuss the empirical results and the implication for risk measurement. Finally, chapter 6 will give concussions and highlight the directions for future research. CHAPTER 2: RISK MEASUREMENT AND THE EMPIRICAL DISTRIBUTION OF FINANCIAL RETURNS 2.1   Risk Measurement in Finance: A Review of Its Origins The concept of risk has been known for many years before Markowitz’s Portfolio Theory (MPT). Bernoulli (1738) solved the St. Petersburg paradox and derived fundamental insights of risk-averse behavior and the benefits of diversification.   In his formulation of expected utility theory, Bernoulli did not define risk explicitly; however, he inferred it from the shape of the utility function (Bulter et al. (2005:134); Brancinger Weber, (1997: 236)). Irving Fisher (1906) suggested the use of variance to measure economic risk. Von Neumann and Morgenstern (1947) used expected utility theory in the analysis of games and consequently deduced many of the modern understanding of decision making under risk or uncertainty.   Therefore, contrary to popular belief, the concept of risk has been known well before MPT. Even though the concept of risk was known before MPT, Markowitz (1952) first provided a systematic algorithm to measure risk using the variance in the formulation of the mean-variance model for which he won the Nobel Prize in 1990. The development of the mean-variance model inspired research in decision making under risk and the development of risk measures. The study of risk and decision making under uncertainty (which is treated the same as risk in most cases) stretch across disciplines. In decision science and psychology, Coombs and Pruitt (1960), Pruitt (1962), Coombs (1964), Coombs and Meyer (1969), and Coombs and Huang (1970a, 1970b) studied the perception of gambles and how their preference is affected by their perceived risk. In economics, finance and measurement theory, Markowitz (1952, 1959), Tobin (1958), Pratt (1964), Pollatsek Tversky (1970), Luce (1980) and others investigate portfolio selection and the measurement of risk of those portfolios, and gambles in general. T heir collective work produces a number of risk measures that vary in how they rank the riskiness of options, portfolios, or gambles. Though the risk measures vary, Pollatsek and Tversky (1970: 541) recognises that they share the following:   (1) Risk is regarded as a property of choosing among options. (2) Options can be meaningfully ordered according to their riskiness. (3) As suggested by Irving Fisher in 1906, the risk of an option is somehow related to the variance or dispersion in its outcomes. In addition to these basic properties, Markowitz regards risk as a ‘bad’, implying something that is undesirable. Since Markowitz (1952), many risk measures such as the semi-variance, absolute deviation, and the lower semi-variance etc. (see Brachinger and Weber, (1997)) were developed, however, the variance continued to dominate empirical finance. It was in the 1990s that a new measure, VaR was popularised and became industry standard as a risk measure. I present this ris k measure in the next section. 2.2   Value-at-risk (VaR) 2.2.1 Definition and concepts Besides these basic ideas concerning risk measures, there is no universally accepted definition of risk (Pollatsek and Tversky, 1970:541); as a result, risk measures continue to be developed. J.P Morgan Reuters (1996) pioneered a major breakthrough in the advancement of risk measurement with the use of value-at-risk (VaR), and the subsequent Basel committee recommendation that banks could use it for their internal risk management. VaR is concerned with measuring the risk of a financial position due to the uncertainty regarding the future levels of interest rates, stock prices, commodity prices, and exchange rates. The risk resulting in the movement of these market factors is called market risk. VaR is the expected maximum loss of a financial position with a given level of confidence over a specified horizon. VaR provides answers to question: what is the maximum loss that I can lose over, say the next ten days with 99 percent confidence? Put differently, what is the maximum loss that will be exceeded only one percent of the times in the next ten day? I illustrate the computation of VaR using one of the methods that is available, namely parametric VaR. I denote by the rate of return and by the portfolio value at time. Then is given by (1) The actual loss (the negative of the profit, which is) is given by (2) When is normally distributed (as is normally assumed), the variable has a standard normal distribution with mean of and standard deviation of. We can calculate VaR from the following equation: (3) where implies a confidence level. If we assume a 99% confidence level, we have (4) In   we have -2.33 as our VaR at 99% confidence level, and we will exceed this VaR only 1% of the times. From (4), it can be shown that the 99% confidence VaR is given byVaR (5)Generalising from (5), we can state the quantile VaR of the distribution as follows (6)VaR is an intuitive measure of risk that can be easily implemented. This is evident in its wide use in the industry. However, is it an optimal measure? The next section addresses the limitations of VaR. 2.2.2 Limitations of VaR Artzner et al. (1997,1999) developed a set of axioms that if satisfied by a risk measure, then that risk measure is ‘coherent’. The implication of coherent measures of risk is that â€Å"it is not possible to assign a function for measuring risk unless it satisfies these axioms† (Mitra, 2009:8). Risk measures that satisfy these axioms can be considered universal and optimal since they are founded on the same mathematical axioms that are generally accepted. Artzner et al. (1997, 1999) put forward the first axioms of risk measures, and any risk measure that satisfies them is a coherent measure of risk. Letting be a risk measure defined on two portfolios and. Then, the risk measure is coherent if it satisfies the following axioms: (1)  Ã‚   Monotonicity:   if then We interpret the monotonicity axiom to mean that higher losses are associated with higher risk. (2)  Ã‚   Homogeneity:   Ã‚   for; Assuming that there is no liquidity risk, the homogeneity axiom mean that risk is not a function of the quantity of a stock purchased, therefore we cannot reduce or increase risk by investing different amounts in the same stock. (3)  Ã‚   Translation invariance: , where is a riskless security; This means that investing in a riskless asset does not increase risk with certainty. (4)  Ã‚   Sub-additivity:   Possibly the most important axiom, sub-additivity insures that a risk measure reflects diversification – the combined risk of two portfolios is less than the sum of the risks of individual portfolios. VaR does not satisfy the most important axiom of sub-additivity, thus it is non-coherent. More so, VaR tells us what we can expect to lose if an extreme event does not occur, thus it does not tell us the extend of losses we can incur if a â€Å"tail† event occurs. VaR is therefore not optimal measure of risk. The non-coherence, and therefor non-optimality of VaR as a measuring of risk led to the development of conditional value-at-risk (CVaR) by Artzner et al. (1997, 1999), and Uryasev and Rockafeller (1999). I discus CVaR in the next section. 2.3   Conditional Value-at-Risk CVaR is also known as â€Å"Expected Shortfall† (ES),     Ã¢â‚¬Å"Tail VaR†, or â€Å"Tail conditional expectation†, and it measures risk beyond VaR. Yamai and Yoshiba (2002) define CVaR as the conditional expectation of losses given that the losses exceed VaR. Mathematically, CVaR is given by the following: (7) CVaR offers more insights concerning risk that VaR in that it tells us what we can expect to lose if the losses exceed VaR. Unfortunately, the finance industry has been slow in adopting CVaR as its preferred risk measure. This is besides the fact that â€Å"the actuarial/insurance community has tended to pick up on developments in financial risk management much more quickly than financial risk managers have picked up on developments in actuarial science† (Dowd and Black (2006:194)). Hopefully, the effects of the financial crisis will change this observation. In much of the applications of VaR and CVaR, returns have been assumed to be normally distributed. However, it is widely accepted that returns are not normally distributed. The implication is that, VaR and CVaR as currently used in finance will not capture extreme losses. This will lead to underestimation of risk and inadequate capital allocation across business units. In times of market stress when extra capital is required, it will be inadequate. This may lead to the insolvency of financial institutions. Methodologies that can capture extreme events are therefore needed. In the next section, I discuss the empirical evidence on financial returns, and thereafter discuss extreme value theory (EVT) as a suitable framework of modelling extreme losses. 2.4   The Empirical Distribution of Financial Returns Back in 1947, Geary wrote, â€Å"Normality is a myth; there never was, and never will be a normal distribution† (as cited by Krishnaiah (1980: 279). Today this remark is supported by a voluminous amount of empirical evidence against normally distributed returns; nevertheless, normality continues to be the workhorse of empirical finance. If the normality assumption fails to pass empirical tests, why are practitioners so obsessed with the bell curve? Could their obsession be justified? To uncover some of the possible responses to these questions, let us first look at the importance of being normal, and then look at the dangers of incorrectly assuming normality. 2.4.1   The Importance of Being Normal The normal distribution is the widely used distribution in statistical analysis in all fields that utilises statistics in explaining phenomenon. The normal distribution can be assumed for a population, and it gives a rich set of mathematical results (Mardia, 1980: 279). In other words, the mathematical representations are tractable, and are easy to implement. The populations can simply be explained by its mean and variance when the normal distribution is assumed. The panacea advantage is that the modelling process under normality assumption is very simple. In fields that deal with natural phenomenon, such as physics and geology, the normal distribution has unequivocally succeeded in explaining the variables of interest. The same cannot be said in the finance field. The normal probability distribution has been subject to rigorous empirical rejection. A number of stylized facts of asset returns, statistical tests of normality and the occurrence of extreme negative returns disputes the normal distribution as the underlying data generating process for asset returns. We briefly discuss these empirical findings next. 2.4.2 Deviations From Normality Ever since Mandelbrot (1963), Fama (1963), Fama (1965) among others, it is a known fact that asset returns are not normally distributed. The combined empirical evidence since the 1960s points out the following stylized facts of asset returns: (1)  Ã‚   Volatility clustering: periods of high volatility tend to be followed by periods of high volatility, and period of low volatility tend to be followed by low volatility. (2)  Ã‚   Autoregressive price changes: A price change depends on price changes in the past period. (3)  Ã‚   Skewness: Positive prices changes and negative price changes are not of the same magnitude. (4)  Ã‚   Fat-tails: The probabilities of extreme negative (positive) returns are much larger than predicted by the normal distribution. (5)  Ã‚   Time-varying tail thickness: More extreme losses occur during turbulent market activity than during normal market activity. (6)  Ã‚   Frequency dependent fat-tails: high frequency data tends to be more fat-tailed than low frequency data. In addition to these stylized facts of asset returns, extreme events of 1974 Germany banking crisis, 1978 banking crisis in Spain, 1990s Japanese banking crisis, September 2001, and the 2007-2008 US experience ( BIS, 2004) could not have happened under the normal distribution. Alternatively, we could just have treated them as outliers and disregarded them; however, experience has shown that even those who are obsessed with the Gaussian distribution could not ignore the detrimental effects of the 2007-2008 global financial crisis. With these empirical facts known to the quantitative finance community, what is the motivation for the continued use of the normality assumption? It could be possible that those that stick with the normality assumption know only how to deal with normally distributed data. It is their hammer; everything that comes their way seems like a nail! As Esch (2010) notes, for those that do have other tools to deal with non-normal data, they continue to use the normal distribution on the grounds of parsimony. However, â€Å"representativity should not be sacrificed for simplicity† (Fabozzi et al., 2011:4). Better modelling frameworks to deal with extreme values that are characteristic of departures from normality have been developed. Extreme value theory is one such methodology that has enjoyed success in other fields outside finance, and has been used to model financial losses with success. In the next chapter, I present extreme value-based methodologies as a practical and better methodology to overcome non-normality in asset returns. CHAPTER 3: EXTREME VALUE THEORY: A SUITABLE AND ADEQUATE FRAMEWORK? 1.3. Extreme Value Theory Extreme value theory was developed to model extreme natural phenomena such as floods, extreme winds, and temperature, and is well established in fields such as engineering, insurance, and climatology. It provides a convenient way to model the tails of distributions that capture non-normal activities. Since it concentrates on the tails of distributions, it has been adopted to model asset returns in time of extreme market activity (see Embrechts et al. (1997); McNeil and Frey (2000); Danielsson and de Vries (2000). Gilli and Kellezi (2003) points out two related ways of modelling extreme events. The first way describes the maximum loss through a limit distribution known as the generalised extreme value distribution (GED), which is a family of asymptotic distributions that describe normalised maxima or minima.   The second way provides asymptotic distribution that describes the limit distribution of scaled excesses over high thresholds, and is known as the generalised Pareto distribution (GPD). The two limit distributions results into two approaches of EVT-based modelling the block of maxima method and the peaks over threshold method respectively[2]. 3.1. The Block of Maxima Method Let us consider independent and identically distributed (i.i.d) random variable   with common distribution function â„ ±. Let be the maximum of the first random variables. Also, let us suppose is the upper end of. For, the corresponding results for the minima can be obtained from the following identity (8) almost surely converges to whether it is finite or infinite since, Following Embrechts et al. (1997), and Shanbhang and Rao (2003), the limit theory finds norming constants and a non-degenerate distribution function in such a way that the distribution function of a normalized version of converges to as follows;, as (9) is an extreme value distribution function, and â„ ± is the domain of attraction of, (written as), if equation (2) holds for suitable values of and. It can also be said that the two extreme value distribution functions and belong in the same family if for some   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   and all. Fisher and Tippett (1928), De Haan (1970, 1976), Weissman (1978), and Embrechts et al. (1997) show that the limit distribution function belongs to one of the following three density functions for some. (10) (11) (12) Any extreme value distribution can be classified as one of the three types in (10), (11) and (12).   and   are the standard extreme value distribution and the corresponding random variables are called standard extreme random variables. For alternative characterization of the three distributions, see Nagaraja (1988), and Khan and Beg (1987). 3.2.  Ã‚   The Generalized Extreme Value Distribution The three distribution functions given in (10), (11) and (12) above can be combined into one three-parameter distribution called the generalised extreme value distribution (GEV) given by,, with (13) We denote the GEV by, and the values andgive rise to the three distribution functions in (3). In equation (4) above, and represent the location parameter, the scale parameter, and the tail-shape parameter respectively. corresponds to the Frechet, and distributioncorresponds to the Weibull distribution. The case where reduces to the Gumbel distribution. To obtain the estimates of we use the maximum likelihood method, following Kabundi and Mwamba (2009). To start with, we fit the sample of maximum losses to a GEV. Thereafter, we use the maximum likelihood method to estimate the parameters of the GEV from the logarithmic form of the likely function given by; (14) To obtain the estimates of we take partial derivatives of equation (14) with respect to and, and equating them to zero. 3.2.1. Extreme Value-at-Risk The EVaR defined as the maximum likelihood   quantile estimator of, is by definition given by (15)   The quantity is the quantile of, and I denote it as the alpha percept VaR specified as follows following Kabundi and Mwamba (2009), and Embrech et al. (1997): (16) Even though EVaR captures extreme losses, by extension from VaR it is non-coherent. As such, it cannot be used for the purpose of portfolio optimization since it does not reflect diversification. To overcome this problem, In the next section, I extend CVaR to ECVaR so as to capture extreme losses coherently. 3.2.2.   Extreme Conditional Value-at-Risk (ECVaR): An Extreme Coherent Measure of Risk I extend ECVaR from EVaR in a similar manner that I used to extend CVaR from VaR. ECVaR can therefore be expressed as follows: (17) In the following chapter, we describe the data and its sources. CHAPTER 4: DATA DISCRIPTION. I will use stock market indexes of five advanced economies comprising that of the United States, Japan, Germany, France, and United Kingdom, and five emerging economies comprising Brazil, Russia, India, China, and South Africa. Possible sources of data that will be used are I-net Bride, Bloomberg, and individual country central banks. CHAPTER 5: DISCUSION OF EMPIRICAL RESULTS In this chapter, I will discuss the empirical results. Specifically, the adequacy of ECVaR will be discussed relative to that of EVaR. 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