Humour in Advertising - 2135 Words

Humour in Advertising Introduction The Encyclopedia Britannica defines humor as a  ¡Ã‚ §form of communication in which a complex, mental stimulus illuminates, or amuses, or elicits the reflex of laughter ¡Ã‚ ¨. Many marketers use humor in advertising as a way of appealing to consumer ¡Ã‚ ¦s emotions. These positive emotions can potentially lead to cognitive processes that entice the consumer to purchase the related product. Doing it right means not only engaging the prospect but getting them to remember the product. However, that depends, among others, on Social and psychological factors, How a person has been socialized may affect there judgment of humorous advertising. Humorous advertising can be found in variety of forms including TV, radio,†¦show more content†¦But after a while, although they still may smile at the joke, it ¡Ã‚ ¦s not so funny any more. Funny ads need to be replaced periodically which in turn increases cost. Another point to consider when using humor in advertising is that different things are funny to different people. A commercial that may leave one person gripping their sides from laughter may leave a bad taste in another ¡Ã‚ ¦s mouth. The target market must always be considered. What ¡Ã‚ ¦s funny in a client presentation may not be funny on an airplane, in a cinema or in a hospital. Advertising humor can backfire. If you make a joke at the expense of any one group, you will surely alienate them which will in turn lose customers and devalue the company ¡Ã‚ ¦s image. Advertising humor also needs to be product specific. Everyone has seen funny ads they have liked so much that they have forgotten what was being sold. Advertising humor must relate directly to the company or products if they want to be remembered. Corporate image and industrial advertising are serious business. Unknown, risky, expensive, or sensitive products are not normally suited to the lighter touch of advertising humor. The Marketing Environment When dealing with humour marketers must consider the various factors in the marketing environment. Some of these factors include: Social/cultural Factors: Marketers must understand that their audience and consumers are of a multiculturalShow MoreRelatedAn Effective Advertisement For A Company s Brand Essay1509 Words   |  7 PagesAnother power of humorous advertisement is its ability to build a company’s brand by adding value to it and ensuring a lasting customer relationship. In fact, humour is one of the best tools that businesses can use in their advertisements to build their brand. Primarily, a brand is an intangible asset that differentiate companies, and humour is commonly associated with increasing brand awareness. A company’s that has a strong brand is more likely to be more powerful in the market. Therefore, the easiestRead MoreHow John Smiths Advertising Campaign Achieved its Success Essay1442 Words   |  6 PagesHow John Smiths Advertising Campaign Achieved its Success The advertising campaign for John Smith’s beer achieved its success using a variety of techniques. The main reason for the achievement was the approach that the producers took. The purpose of the adverts was evidently to encourage the public to buy John Smith’s beer. Analysing the audience allowed them to aim their adverts to people who would be most likely to purchase the product. Once the purpose and audienceRead MoreThe Impact Of Sexualization Of Women In Advertising1217 Words   |  5 Pagesare still present today. These similarities are present in advertising today as women are sexualized and demoralized for men’s enjoyment. Portraying women as objects to satisfy men’s needs contributes to a decreased view of women in society and for the female population which will lead to decreased self-worth, increased eating disorders, and depression (Jones Reid, 2011, p. 213). The sexualization of women is increasing in advertising and it needs to be addressed as it has many damaging effectsRead MoreEssay about Conflict of Cultures in the film Bend It Like Beckham1198 Words   |  5 Pagesvarious different ways in the film Bend It Like Beckham. Gurinder Chada uses techniques such as accents in the voice, contrasts, stereotypes, sarcasm, characterization and juxtaposition of British and Indian cultures which creates humour. This creates a film that attracts the attention of the audience and keeps them interested in the storyline. In the film Bend It Like Beckham a young female Indian footballer hopes that one day she will be able to become a professional Read MoreBurger King s Advertisement As A Blonde Woman With Her Mouth Open Towards A Burger1028 Words   |  5 Pagesthat the advertisement was likely trying to appeal to, was one that encourages sexual assertiveness. Thus, the advertisement was hoping to engage this specific target group through a sexually-charged image, coupled with â€Å"employ[ing] male adolescent humour† with phrases like â€Å"super seven-incher† and â€Å"it’ll blow† (O Barr, 2011). The advertisement achieved this by framing and positioning the model and the burger in such a way as to infer oral sex. In terms of communication techniques, this advertisementRead MoreClemenger BBDO Advertising in our modern world is ineffective and no longer relevant. Do you agree2200 Words   |  9 PagesClemenger BBDO Advertising in our modern world is ineffective and no longer relevant. Do you agree or disagree with this statement and why? Today’s consumer is constantly inundated with advertisements. Their acclimatisation to this saturation of messages has resulted in defence mechanisms which have essentially allowed the modern consumer to block out undesirable attempts to capture their attention. This new era of consumer cautiousness does not mean the end of advertising, rather the dawning ofRead MoreConsumer Purchase Decision2355 Words   |  10 Pageseffectively (Singh and Kaur, 2011). Tools such as marketing and advertising are used extensively for persuasion and its effectiveness and success can be judged on the extent to which the message is perceived and interpreted by the target market. Singh and Kaur (2011) showed that the impact of marketing and advertising activities is extremely important and sensitive in terms of society and marketing organisations. They studied that advertising plays a vital impact on consumer memory and behaviour. MoreoverRead MoreA Comparison of Three Advertisements Essay683 Words   |  3 Pagestypical image of people that the audience recognises. Soft focus might imply romance, olden days and femininity. I will be analysing three adverts. The first one will be a citroen advert and the last two will be jeep adverts. Advertising uses special techniques to catch the reader or viewer. The advertiser hopes to persuade the reader to buy their product or products. The first advert, the citroen one uses the smiling face of a man who is looking directly at the cameraRead Moreconsumer Essay1018 Words   |  5 Pagesmostly appeals from advertisement, so production manager should try to make customers willing to buy this product by successful ad with a ‘catchy’ affect, having a bit of fear and humour could be helpful. The way in which company can change beliefs about brand is putting less emphasis on product strength in its advertising and more emphasis on others value which cereal has. b) Product manager can change consumer attitude toward the brand by using a broad statement (for example that only cereal withRead MoreThe Effects Of Television On The Consumer Behavior And Reception Of A Consumer1602 Words   |  7 Pages15005652 MPO422- Advertising How can a specific advertising medium- of your choice- be considered crucial in affecting the consumer’s reception and behaviour to an advertisement which utilities said platform? Advertising is believed to be potent within our society, yet critics tend to frequently argue whether or not it is in fact having an effect on our behaviour; one of the reasons being that, we have been surrounded by advertising throughout all of our lives, and it is no longer a novelty (Heath

Racial Bias Toward The Black Community - 1518 Words

â€Å"But race is the child of racism, not the father.† A quote by Ta-Nehisi Coates in his book Between the World and Me encompasses the culture of racial bias toward the black community. Freddie Gray, Michael Brown, Eric Garner, Tamir Rice and Walter Scott are just a few names that represent the widespread, institutionalized racism embedded within our police and incarceration systems. From traffic stops to America’s prison population to mandatory minimums, racism is prevalent in every facet of America’s â€Å"domestic security† apparatus. Facing harsher punishment, 1 in 3 black men will go to prison and receive a 10% longer sentence than their white counterpart. Cocaine and Crack Cocaine are virtually the same substance but with vastly different mandatory minimum sentences. Cocaine is inhaled through the nasal cavity and Crack Cocaine is smoked with a pipe. Powder Cocaine is predominantly used by affluent white males while Crack Cocaine is predominately u sed by lower income black males. The mandatory minimum sentence for possession of 28 grams of Crack Cocaine is 5 years in prison while it takes 500 grams of Powder Cocaine to receive the same sentence. That comes out to nearly 18x harsher punishment for Crack Cocaine users, who are mostly black, than Powder Cocaine users. These are only few of the many injustices facing minority communities around the country that are brought fourth by an engrained stigma of racism within police forces and prison systems across the nation. Can theseShow MoreRelatedRace And Crime : Criminal Justice System1460 Words   |  6 Pageshave a racial bias against blacks and incarcerate them in larger numbers than any other race. Statistically, blacks have a higher arrest and incarceration rate than other races do. Due to police being taught that racial profiling is a necessary part of the job, blacks have now become a prime target for many false arrests and often serve jail time for a crime they may not ha ve committed. The black community often expresses their distaste with the criminal justice system, and how their community is handledRead MoreThe World Is Not Black And White : Racial Bias1688 Words   |  7 PagesIn the article The World Is Not Black and White: Racial Bias in the Decision to Shoot in a Multiethnic Context Implicit racial biases were examined in the decision to shoot potentially hostile targets in a multiethnic context. Results of two studies showed that college aged participants and police officers showed anti-black racial bias in their response times: the participants were quicker to â€Å"correctly† shoot armed black men or targets and to indicate â€Å"don’t shoot† for unarmed Latino, Asian andRead MoreArguments Surrounding Racial Profiling846 Words   |  3 PagesLiterature Review The arguments surrounding racial profiling can be distilled into two fundamental questions. Is this racial profiling practiced widely by police agencies in the United States? And if so, is the practice beneficial? Many feel that the use of profiles is beneficial for law officials. Some proponents argue that when race is used, but not necessarily as the sole factor profiles are useful. Additionally, those who support the use tend to find that complaints about profiling by raciallyRead MoreRacial Hierarchy Of Ferguson Shooting Incident1267 Words   |  6 PagesXueyuan Wang Writing 150 April Davidauskis Oct 6th Assignment 2 Racial hierarchy in Ferguson Shooting Incident On August 9th, 2014, Michael Brown, an innocent young black teenager was murdered in Ferguson, Missouri by Darren Wilson, a white police officer. Since the dashboard cameras are not installed in Ferguson police cars, the clear evidence of what happened is still unclear. But based on the testament of Brown’s friend Johnson who was walking with Brown, they were ordered to move off the streetRead MoreRethinking the Color Line: Larger Issues of Races and Racism Reflected By Romance1727 Words   |  7 Pagesand romance, one can easily understand the shift observed in racist attitude over last few decades. Considering the statistics given, it is visible that Black-White marriages and Asian-American marriages were a taboo in the early twentieth century however this trend has gain familiarity and fame in the masses reflecting that individuals from Black and Asian ethic groups are becoming more acceptable to Whites. It was the interracial marriages which made many states change their legislation, lift bansRead MoreResponse Paper to Michelle Alexanders The New Jim Crow: Mass Incarceration in the Age of Colorblindness743 Words   |  3 PagesThe New Jim Crow: Mass Incarceration in the Age of Colorblindness was written by Michelle Alexander to expose the truth of racial injustice in the system of mass incarceration through the comparison of the racial control during the Jim Crow Era. She reveals how race plays an important role in the American Justice System. Alexander argues about the racial bias, particularly towards African-Americans, immanent in the war on drugs as a result of their lack of political power and how the Supreme Court toleratesRead MoreWhat Is Racial Bias?853 Words   |  4 Pages What is racial bias? Racial biases are a form of implicit bias. Which often refers to the attitude or stereotypes that affects an individual’s understanding, actions, and decisions in a unconscious manner. What is race? Race is a group of people thought to share certain distinctive physical characteristics; facial structure, skin color, etc. Racial characteristics are thought to be biologically inherited unlike ethnic characteristics, which are cultural. This test result really made me think aRead MoreAll Lives Matter, By Nikita Carney Essay1344 Words   |  6 PagesMedia bias is displayed repeatedly in news coverage of black tragedies and in the persecution of black bodies. From protest following the non indictments of cop killing unarmed black men to the uninformed persecution of the BlackLivesMatter movement, mainstream media is constantly standing in opposition to anything that threatens the status quo. My five articles assessed said media bias, and if that bias whether negative or positive affected the African-American community. Nikita Carney’s â€Å"All LivesRead MoreBlack Lives Matter Is An International Activist Movement1693 Words   |  7 Pages Black Lives Matter Movement Black Lives Matter is an international activist movement, originating in the African-American community that campaigns against violence towards black people. â€Å"Black lives matter† became a rallying cry of a new chapter in the long black freedom struggle. Its unique campaign contributes beyond extrajudicial killings of Blacks by policemen and vigilantes. It all started year 2013, after a white/hispanic male, â€Å" George Zimmermanâ€Å" was found not guilty of the fatal murderRead MoreRacial Discrimination In To Kill A Mockingbird848 Words   |  4 Pagesâ€Å"was a system of segregation and discrimination that barred black Americans from a status equal to that of white Americans,† as described by Tsahai Tafari (1). In To Kill a Mockingbird, Jean Louise â€Å"Scout† Finch occasionally acknowledges the social separation between African Americans and Caucasians in Maycomb. The institutional racism justified by the Jim Crow laws included the location of res idency separation between white families and black families. Not only were colored people separated from white

Mexican American Borderlands and The Caribbean Free Essays

The negative side effects of tattoos Tattoos are permanent pictures or designs on the skin, pricked and stained with indelible dyes. They contain mainly industrial organic pigments with high microbiological impurities load. Tattoos are body arts. We will write a custom essay sample on Mexican American Borderlands and The Caribbean or any similar topic only for you Order Now In our society today, tattoos have Increase In popularity among all ages but most prevalent among the adolescent and young adults. Reports have shown that the Increase in the adolescent involvement in tattooing is fuelled by peer pressure and their quests to belong to certain groups or to be accepted. (A. E Almsman Pl). This makes them not to consider the hazards that are associated with it. In this essay, I will be investigating the negative side effects that are associated with tattoos such as how society view people involved, common health risk and Flanagan hardships. According to Anne E. Almsman of Fingers School of Medicine and North Western University, tattooing has been associated with high-risk behaviors such as sexual intercourse, binge ringing, smoking, marijuana use, fighting, gang membership, and truancy and school failure. (A. E Almsman P 2). Many health professionals also, associate body arts with criminal activity or psychiatric disturbances. Tattoos are viewed in our society today as unprofessional and offensive. It can reduce an employment opportunities. For example, you cannot be a recruit of the military If you have offensive tattoo on your neck, above. r on any obvious part of your body that suggest gang membership. Furthermore, excessive tattoos may be a form of self-harm. There is usually ins during the procedures and while the tattoo and is healing. Tattoos from most commercial tattoo parlors are associated with infections, including potentially deadly infections like stash, tetanus, hepatitis B or C, and HIVE. Other side effects include; acute Inf lammatory reactions caused by physical tissue injury and Injection of pigment dyes, excessive and unsightly scarring, nerve damage, allergic reactions and sometimes uncontrolled bleeding. MEMBER reports) Furthermore, tattoos can cause misdiagnoses or interference with medical procedures like Mrs. (Robert Prepaid 2). Also because of the risk of infection, one will not be able to donate blood for at least a year after having tattoos for the risk of infections. It cost a lot of money to do tattoos and take care of it during the healing process. From a survey I conducted, an average tattoo studio cost about a $100. 00 per hour. Think about spending more than three hours. In addition, removing tattoos can be expensive and painful, and usually does not leave the area looking completely healed. In conclusion, getting tattoos poses a read health risk that can lead to infections or even attracting HIVE and those involved are mostly associated with negative criminal activities and high-risk behavior. . Anne E. Almsman Epidemiology of tattoos and piercing . Legislation in the United States Robert Prepaid; Publication on Medicine plus Health Day, American Academy of Dermatology, â€Å"Tattoos, Body Piercing, and Other Skin Adornments† www. Monoclinic. Com, Foundation for Medical Education and Research (MEMBER) â€Å"Tattoos: Understand risks and precautions† http://www. Tenement. Com/ teen-issues/piercing-and-tattoos. HTML How to cite Mexican American Borderlands and The Caribbean, Papers

Marketing Strategies Beckett Organics

Question: Discuss about theMarketing Strategiesfor Beckett Organics. Answer: Effective Strategic Marketing for Beckett Organics Backett Organization in the UK has immense potential to explore for the growing market and consumer awareness. John Beckett needs to adopt steps to adhere to strategic marketing initiatives in order to grow and expand his organic vegetable business base(Cravens, 2006). Figure 1 : UK Organic Market 2014 Source : (Greehousepr.co.uk, Retrieved on 20th October 2016) The organization can adopt direct business to consumer (B2C) based marketing tactics in order to expand market share. In order to do so the company needs to accommodate the 4Ps concept into its working tactics. Product, the company needs to offer a wide variety of products and just not limited ones to as to be able to cater to wide segment of customers. Price, the company needs to offer competitive price to its customers such that they only prefer purchasing products from the company. Place, it is not possible to reorganize the place of the firm, but a proper logistic and supply chain procedure can ensure that customer gets product ordered at his doorstep at a suitable time. Promotion, the company needs to do promotion and awareness campaign such that consumers are aware regarding the company and its various products. Figure 2 : Organic Food Sales by Country Source : (Statista.com, Retrieved on 20th October 2016) The company can set up social media campaigning in Facebook, Twitter, and Instagram to attract more number of customers. The company can also give out pamphlets in the local area such as to create awareness. The company can further develop an app which customers can install and order their choices accordingly. Strategic Planning Process for Beckett Organics In order to gain success in the field of organic business Beckett Organics need to formulate a strategic plan and then progress accordingly. The various steps in the strategic planning process involve defining of goals for the organization, which is to cater to maximum number of customers with its organic produce. Then is to examine internal issues, one major area of concern for the company will be to cater to a vast array of customer. External issues also needs be conducted these involve political scenario consideration of UK, economic situation evaluation in terms of economic growth, inflation, GBP fluctuations. Understanding social conditions, this refers to taste and preferences of UK consumers(Connolly, 2006). Technological understanding which defines the advancements in field of developing apps and other technologies that can be applied to the business. Legal understanding of the various laws that needs to be conformed to as the soil certification tests and so on. Then the vari ous environmental emission norms of the business need to be evaluated, this is referred to as the PESTLE analysis. Figure 3 : Strategic Planning Process Source : (Draw, Retrievd on 20th October 2016) Apart from these factors the company also needs to develop an understanding of the industry rivals, purchasing power of consumers as well as suppliers, threat from new entrants in the market and from substitute products, this is Porters 5 force analysis. Once both the analysis has been done an internal SWOT analysis for the company has to be done to evaluate its strength and capitalize on its opportunities. Thus, the stage of strategy formulation will help build strategies for marketing and commercialization of the product. References Connolly, J. a. (2006). Identifying fair trade in consumption choice. Journal of strategic marketing, 14(4), 353-368. Cravens, D. a. (2006). Strategic marketing (Vol. 7). New York: McGraw-Hill. Draw, S. (Retrievd on 20th October 2016). Strategic Planning Proces. https://www.smartdraw.com/strategic-planning/strategic-planning-process-start-to-finish.htm. Greehousepr.co.uk. (Retrieved on 20th October 2016). Organic Food Growth in UK 2014. https://greenhousepr.co.uk/organic-food-organix-yeo-valley-riverford/. Statista.com. (Retrieved on 20th October 2016). Organic Food Sales by Country. https://www.statista.com/statistics/196952/organic-food-sales-in-the-us-since-2000/.

Sanskrit Schlarship Application Form free essay sample

Rashtriya Sanskrit Sansthan (Deemed University) 56-57, Institutional Area, Janak Puri, New Delhi-110058 Notification of Scholarship Rashtriya Sanskrit Sansthan (Deemed University) set up by the Government of India for propagation and promotion of Sanskrit language invites applications in the prescribed form for award of merit Scholarship to: i. Regular students studying Sanskrit in any recognized traditional Pathshalas/modern institutions / Secondary / Senior Secondary Schools from 9th to 12th standard. ii. Regular students pursuing higher course of studies in Sanskrit in recognized educational Institutions at the levels of Shastri / Graduation / Acharya / Post Graduation / Vidyavaridhi / Ph. D. Details for grant of scholarship are as under:S. No. Courses of Study for which Scholarship is given 1. 9th and 10th classes / Purva Madhyama or equivalent courses with Sanskrit as a paper of least 100 marks 11th 12th classes / Prak Shastri / UttarMadhyama and equivalent courses with Sanskrit as a paper of at least 100 marks Shastri / Graduation / B. A. /B. A. (Hons. ) and equivalent course of three years duration with Sanskrit as a subject of at least 100 marks. Eligibility Criteria Must have passed the previous examination of the respective class with a minimum of 60% marks or equivalent in the aggregate and also in the concerned subject i. e. in Sanskrit Must have passed Plus 2 level examination with a minimum 60% marks or equivalent in the aggregate and also in Sanskrit Must have passed Graduation with at least 60% marks in the aggregate in Sanskrit Must have passed Acharya or M. A. in Sanskrit with at least 60% marks in the aggregate Scholarship Amount Rs. P. M. 250 2. 300 3. 400 4. Acharya Degree in Sanskrit and its equivalent Post-Graduation Degree 500 5. Vidyavaridhi / Ph. D. and equivalent in Sanskrit 1500/-** ** The student of Vidyavaridhi / Ph. D and equivalent courses shall also be entitled for a contingency grant of Rs. 2000/- per annum for two years. Number of Scholarship: Number of Scholarships to be awarded each year depends on the availability of funds. Relaxation: Minimum percentage of marks for the candidates belonging to the categories mentioned below under eligibility criteria shall be as under: – SC / ST OBC Women Physically Handicapped Terms Conditions: 1. Students must have opted for the subject i. e. Sanskrit in the current class of Study for which he or she has applied for the Scholarship. However, the grant of Scholarship will depend on the marks secured in the previous class of study in the concerned subject and also in the aggregate as stipulated in this advertisement. 0 % 55% 55% 50% 2. The Scholarship up to Post-Graduate and equivalent courses will be tenable for one Academic year i. e. (10 months) starting from the 1st July and ending with 30th April. As Scholarship is awarded only for one academic year on the basis of marks obtained in the previous examination, students have to apply every year afresh. It will not be renewed automatically. 3. The Scholarship for the Ph. D will be tenable for two full Years i . e. 24 months subject to satisfactory progress report. 4. Candidates applying for scholarship for 9th and 10th standard must submit the application duly counter signed by the concerned District Education Officer. 5. The Students of faculties of Arts or Humanities having Sanskrit as a major subject will be eligible for scholarship in case of Graduation and Post Graduation level. 6. The Scholarship amount will be payable from the 1st July of every academic year and will be released in the name of the concerned students by account payee cheque through the Head of the concerned institutions. In case any student wishes to receive the Scholarship directly in his/her State Bank Account, he/she must furnish State Bank Account number in the application form legibly. 7. In the case of Ph. D and equivalent students, the institution concerned shall send Utilization Certificate and progress repot on the work done by the scholar through the guide and Head of the Department, to enable the Sansthan to release Scholarship for the second year. 8. A candidate who receives any Scholarship or gets monetary benefits from any other institution will not be considered for Scholarship of the Sansthan under this Scheme. A candidate who accepts any remunerative job during the tenure of the Scholarship or undertakes to any other course of study which does not have component of Sanskrit will be disqualified from receiving this Scholarship. 9. The Sansthan reserves the right to make such changes in these terms and conditions as it may consider necessary. The Sansthan also reserves the right to reject any application after due scrutiny. The decision of the Sansthan in this regard will be final and binding. 10. Every student will be required to submit application form through the Competent Authority in the prescribed pro-forma indicating interalia :- i. ) That he/she is pursuing a course of study for which he/she has applied for the Scholarship with Sanskrit as a regular student. ii. ) iii. ) iv. ) That he/she is not in receipt of any other Scholarship from any other source. That he/she is not employed anywhere. That during the currency of the Scholarship if he/she is awarded Scholarship from any other source and/or is employed he/she will immediately inform the Sansthan through proper channel. Application procedure: The application on the prescribed form alongwith attested copies of the mark-sheet of the latest qualifying examination and caste / category certificate in case of SC/ST/OBC/Physically Handicapped issued by the competent authority must be sent to the Registrar, Rashtriya Sanskrit Sansthan (Deemed University) 56-57, Institutional Area,Janak Puri, New Delhi- 110 058 within one month from the date of publication of this advertisement. The application form can also be download from Sansthan’s website www. sanskrit. nic. in Registrar RASHTRIYA SANSKRIT SANSTHAN Deemed University) 56-57, Institutional Area, Janak Puri, New Delhi-110058 Affix attested Passport size photograph Application for Scholarship 1. Name of the Student (In Capital letters) : 2. Gender Tick in the relevant box Male Female 3. 4. 5. 6. Father’s / Husband’s Name Date of Birth and age on 01. 10. 2010 Class, in which the student is studying Stream Tick in the relevant box Subjec t’s taken : : Class Year I,II,III Modern Traditional : 7. 8. Whether Sanskrit has been offered as a : Major Subject Tick in the relevant box Full Name Address of the Institution / : University in which the student is studying or doing research work Yes No 9. 10. Name of the Institution and full address of : Head of Department / Principal / Director or the authority to whom the cheque may be sent including PIN code and also mobile no. / email 11. Whether you belong to (i) S. C (ii) S. T : (iii) O. B. C. (iv) Handicapped (v) Female (if yes, Please attach copy of certificate issued by Competent Authority in case of (i) to (iv). 12. Complete Residential / Postal address to : which the intimation / correspondence can be sent (Please give phone no. and email id if available) 13. Particulars of examinations passed including latest qualifying examination: Please use additional sheet if required in the same format Name of the Examination Year of examination passed passing body Class/Div. and overall %age of marks Marks in Sanskrit as a Major Subject Total Obtained Percentage 14. 1. For Research Students only Whether student has been registered for Ph. D/ Vidyavaridhi course? If so, please furnish i. Registration No. and date of : registration ii. Please furnish copy of admission and letter of joining Ph. D / Vidyavaridhi Name of the Research Guide with Full Residential Address/Phone : No. /Email Id. / Mobile No. 2. * Note :- (1)Applications for 9th and 10th standard must be counter signed by the concerned District Education Officer. (2) No column of the application form should be left blank, which may be liable for rejection of the application form. 15. Declaration I hereby declare that all the information given by me in this application form and documents submitted by me in support of this application are true to the best of my knowledge and belief. My mark sheet is duly attested by Competent Authority. I also declare that in case I am selected for the Scholarship applied for, I shall devote my full time to approved course of study/research and that I shall not undertake any other paid work or receive any other Scholarship or any other grant from any source during the tenure of this Scholarship. Date :†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. Place :†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. SIGNATURE ( ) Name of the candidate Recommendation of the forwarding authority. (Head of Deptt. /Competent authority of the University in the case of Reasearch student and Head of the Department/ Head of Institution / Prinicpal of the Institution in case of the student of other course of studies) Certified that________________________________is a regular student /research Scholar in Name of applicant ____________________________________________________________ _________________ Name of the university / institution and address in full As per the records, the date of admission and enrolment number of the student to the above Course is as under:Enrolment No Academic Session Date of admission Class to which admitted Date :†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ Signature of Head of Deptt. /Head of Institution/Principal with official seal Place:†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. Countersignatures of District Education Officer (in case of students of 9th 10th standard) Request to the forwarding authority: Forwarding authorities are requested to accord top priority in forwarding the application so that the eligible students do not miss the opportunity of being considered for Scholarship due to non receipt of application on time. IMPORTANT INSTUCTIONS FOR APPLICANTS i. ) ii. ) iii. ) iv. ) v. ) vi. ) vii. ) viii. ) ix. ) Application form must be forwarded through Principal/Head of the institution / Head of Department and counter signed by the DEO as the case may be. Marksheet / document must be attested by the Principal / Gazetted Officer / Any Competent Authority. Application form must be signed by the Principal/Head of the Deptt. /Head of Institution with seal/Rubber stamp. (They should verify signature of student and entries of the form). In case of Ph. D / Vidyavaridhi students, the registration No. and date be mentioned along with documentary proof. Application must be filled in prescribed form only. Each column should be properly filled up. Students of IInd and IIIrd year of any class can also be applicant for Scholarship The application form must be filled in Hindi or English language only. If the student has taken Sanskrit as a subject, it is necessary to write Sanskrit specifically in the subject column, otherwise the application form will not be entertained. Student must submit advance receipt in the following format immediately to enable the Sansthan to release payment in case he/she is selected for Scholarship. ADVANCE RECEIPT I †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. †¦Ã¢â‚¬ ¦received a sum of Rs†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. (Rupees†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦) Name of candidate from the Vice Chancellor, Rashtriya Sanskrit Sansthan (Deemed University), New Delhi being the Scholarship awarded to me for the year 2010-2011 for the class†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. Date :†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ (Signature of Candidate)

Essay on Pinker Essays

Essay on Pinker Essays Essay on Pinker Essay Essay on Pinker Essay Two Sides of a Bad Coin â€Å"Fucking†. How is that for a start of an essay? Does it pack a punch? Does it surprise you? Well, that is how Steven Pinker, a professor of psychology at Harvard, decided to start his article â€Å"What the F***† in The New Republic. It seems inappropriate that a Harvard professor would start any piece of writing in this way; however, as the piece goes on, his stance on cursing loses its initially crude air and becomes a more credible, scientific argument. By introducing cursing in a new scholarly light, Pinker is able to morph the reader’s initial repulsion to cursing into a thoughtful deliberation of its advantages and disadvantages. This purpose is not evident from the start though because he is preoccupied with trying to pull the readers into reading his article. He does this by first unbalancing the readers with his unconventional beginning. He then mentions the contemporary example of Bono cursing as he accepted a prize for his group to interest the readers a bit more. Finally, he drops the expletives â€Å"asshole† , â€Å"cocksucker†, and â€Å"motherfucker† all in the same sentence and finishes brilliantly with â€Å"nigger† and â€Å"cunt†. Usually this flagrant lack of indiscretions would deter the general reader from venturing on, but in Pinker’s case, the controversial nature of his beginning is utilized to hook the readers in. In this way, it is a bit like a Michael Moore movie. All of them do not take the time to be subtle and are shockingly biased. Yet, all types of people still watch his movies: liberal thinkers are attracted to the freedom with which taboos are mentioned while conservatives gravitate towards them, itching for the chance to disarm the argument. Both are interested for completely different reasons but the end result is the same: everyone is interested in learning more about the content. Unlike Michael Moore though, Pinker does not continuously pelt the reader with fact after fact, story after story, in an effort to get the reader completely on his side. He takes a more gradual approach and tries to get the reader to slowly understand his side of the story. In a matter of a few paragraphs, I was surprised to find that I, a long-time dissenter of cursing, had already become habituated to reading f, c, n, m, and etc. -bombs. I appreciated how, instead of approaching cursing as a black and white subject and having a very partisan tone, he approached it in a very technical manner. He did not handle the topic of swearing as the shunned topic it is usually treated as, but he manipulated his diction and made cursing a more sophisticated science which, according to him, â€Å"raises many other puzzles† and incorporates â€Å"linguistic, neurobiological, literary, [and] political† issues. Who has ever described cursing using these types of words? He then goes on to analyze the different parts of the brain-the limbic system and the neocortex-which are activated when people curse. He even categorizes cursing into different types as a biologist would categorize different cell types. There is cathartic swearing, there is vulgar swearing, and there are figures of speech swearing. When I first read the article, it seemed that he was simply using this technical jargon to make his argument more intellectual and credible; however, it soon became clear that although his utilization of language did accomplish this feat, it was also a technique of his to get the reader to a less prejudiced standpoint about cursing. Children grow up under the impression that cursing is wrong. Some children grow up to respect this belief and not curse while others decide to rebel and curse. Both sides though have their one-dimensional viewpoints in common. Cursing is rarely ever a neutral ground of conversation for anyone, but Pinker, by analyzing and discussing cursing, is able to separate the reader from the negative connotations of cursing just long enough so he could insert the idea that there is a beneficial side of cursing. He understands that people feel comfortable with facts so he takes his evaluation and observations of cursing and throws it at the reader so they think about the data instead of dwelling on the negative undertone of the topic being discussed. Then, at the end, he finally introduces arguments which are pro-cursing. According to psychology, everyone has a confirmation bias: a tendency for people to only rely upon information which confirms their beliefs and disregard material which does not. If Pinker had just listed reasons cursing was fine from the beginning, the reader would have probably either taken them in hungrily or downright rejected them according to their opinions. As a professor of psychology at Harvard, Pinker was probably well aware of this occurrence and therefore decided to soften the readers’ predispositions to cursing and then persuade them. As support for his pro-cursing stance, he states how cursing is necessary sometimes because of the extra flavor that it can add to a conversation and that sometimes the employment of a curse word is the most effective way to express a certain sentiment. Pinker refers to the film adaptation of Isaac Bashevis Singer’s Enemies: A Love Story Curse in which a Polish girl curses after being slapped by a her Jewish husband who she had hid, fed, and kept safe during the Nazi occupation. In this awful situation there are no other words which could have had the same impact in such a concise manner. She had every right to curse at her husband. Pinker also mentions that cursing has lost much of the crude image it used to have and that many people, even people in high positions, curse frequently. To support his point Pinker referred to the colorful usage of the English language by Lyndon Johnson, our former president, to illustrate how common cursing is in everyday society and that even people who would not be expected to curse do. Since everyone is cursing it cannot possibly be that bad. As per Pinker, swear words are nothing to be feared or dreaded; they are just words in the English Language which can be used whenever necessary and just like any other word, there is no need to over-use them, but in the correct situation, they can be the perfect words to evoke a feeling and impart the full impacted desired. It still seems a bit strange that a Harvard professor would decide to write an article that seems as casual as this- a more scholarly article would seem more appropriate. But, I think he made a wise choice of deferring from the usual course of action because the techniques which he applied were very effective. Although I still feel that cursing is wrong and I don’t feel very comfortable with it, Pinker has successfully tempered my attitude towards it and has given me a new understanding of cursing.

Arguments of Definition Assignment Example | Topics and Well Written Essays - 500 words

Arguments of Definition - Assignment Example Yes. I was honestly surprised about that piece of information from the talk. I have always made an assumption that whatever information I was searching for online and the results I got as a result would be available exactly what anyone else searching would get as well. This is the reason the talk was not only important but provided revealing information that shocked me. This information about the filter bubble should be passed around to as many people as possible so that they can be keen on the search results they get from the first search and compare it to results of other searches as well. I was worried over Pariser’s information that the content being released in the internet is tailored which is very inconveniencing. If one can be searching for a particular topic and each and every piece of information about it but ends up getting the wrong information, irrelevant information as well as misplaced information, then one will start to really not trust the internet at all. It is supposed to not only connect people but keep them abreast at all times of everything taking place around the world. As a result of the filter bubbles, this reality is being taken away from the users. Privacy indeed matters as very few people would like to be seen at their weakest or most vulnerable moments. This is the reason according to Greenwald (2014) that most people as explained by the speaker prefer doing stuff in private than in the public eye. They lack the courage to be criticized or people to change their point of view about them hence the reason they hide in private. People should respect the privacy and not brand people as bad or good for it. Having taken the same experiment taken by Pariser’s student, I was shocked to realize that it is true. I tried it several times taking different screen shots and the results were still different each and every time. The most shocking of all research was the fact

Sy2001 G Essay Example | Topics and Well Written Essays - 2500 words

Sy2001 G - Essay Example This does not however imply the so-called cyber infrastructure is the utopia of office environments, albeit on a virtual basis, there are a number of factors that also contribute to the threats towards this modern type of infrastructure, as well as a number of factors that may well culminate within the "failures in the cyber infrastructure" (Goetz & Shenoi p. 351 2008). With this in mind these factors and situations must be analysed to measure the efficacy of either of the scenarios, and weigh up which is indeed arguably the most feasible. Although a definition is provided within the question and title of this paper, a more comprehensive definition is made available from DeSanctis & Monge (1999) in "Virtual Organization [n]: a collection of geographically distributed, functionally and/or culturally diverse entities that are linked by electronic forms of communication and rely on lateral, dynamic relationships for coordination." This definition incorporates the aforementioned definition, however provides a little more insight in terms of factors that need to be taken into account, with specific reference to the organization. Five main elements exist within this definition, which may be analysed within the greater context of the cyber infrastructure. These elements are: Starting with these five elements, the geographically distributed factor certainly pertains to the traditional corporation as well as the virtual organization, specifically with reference to organizations that operate on a global basis, or even those with regional representation. However specifically to the virtual organization, the possibility and "variety" of such distribution is far more diverse than being limited to a specific office area or building, as compared to that of the traditional organization, within specific geographic locations, such as that of a head office and satellite branches. Within the case of the

A critical study of credit risk management in the First Bank of Dissertation - 1

A critical study of credit risk management in the First Bank of Nigeria PLC - Dissertation Example In designing the credit policies, due considerations are given to the commitment of the bank which involves: Creating, monitoring and managing credit risk in a way that complies with all the applicable laws and bank regulations (Basel III: A global regulatory framework for more resilient banks and banking systems, 2010) Identifying the credit risk in every investment, loan or in other activities of the Bank (Risk management disclosure, 2011). Utilizing appropriate, accurate as well as timely tools to measure the credit risk in every department (Risk management disclosure, 2011). Adopting a risk-based approach in determining the appropriate pricing strategy while lending products and service offerings (Risk management disclosure, 2010). Setting an acceptable risk parameter. Maintaining an acceptable level of credit risk for the existing individual credit exposures. Maintaining acceptable levels in the overall credit risks for the portfolio of the bank. Coordinating the credit risk man agement and other risks that are inherent within the Bank’s business activities. Setting remedial and recovery measures and actions (Risk management disclosure, 2012). To effectively handle its credit policies and practices in the first bank of Nigeria, five departments have been formed that control and manage credit processing functions. This are- 1. Credit Analysis & Processing (CAP) which is responsible in developing the appraisal of non-specialized credit requests and processing in order to obtain requisite approvals that are in line with the Bank’s policies (Credit Risk Management, 2009). 2. Specialized Lending Department (SLD) is responsible for the appraisals of credit requests and processing till its final decision to sanction specialized types of credit which are peculiar because of the size and complexity involved in such transactions (Transformation, 2010). It handles departments like power, oil and gas both upstream and downstream, utilities such as water p rojects, etc, transportation like mass transit, aviation, commercial real estate business projects which are the business proposals that are conceived for commercial gain, infrastructure that would also include concessions in public assets. 3. Credit Risk Management (CRM) which is concerned with the planning, monitoring and the reporting of the credit portfolios (Principles for the Management of Credit Risk, 2012) 4. Remedial Management Unit (RMU) that would have a bias for the proactive work-out of accounts that would show early signs of weaknesses and 5. Classified Assets Management (CAM) that would be concerned with for the recovery of the classified retail loans which are 90 days past their due date, wholesale accounts that are classified as lost with days past their due period (DPD) by over 540 days and accounts that are written off from the on-balance sheet into their CAM SOL (Risk management disclosure, 2012). 4.2 Internal ratings scale In measuring the credit risk of loans a nd advances to their customers and to the banks at a counterparty level, the Group considers the following features. The first feature concentrates on the character and the capacity to make payments by the client or the counterparty on their contractual obligations. The second feature surrounds the current exposure of the bank to the counterparty and its likely development in future. The third and the last feature center around the credit history analysis of the counterparty and its likely recovery ratio in the cases of default obligations (Risk management disclosure, 2012). The Group also has internal credit limits for approval for various levels in the credit process. The levels are shown in the following table. Approval levels Investment grade

Impact of Exchange Rate Volatility on Bilateral Trade Flows

Impact of Exchange Rate Volatility on Bilateral Trade Flows Chapter 1: Introduction The relationship between exchange rate volatility and trade flows has been extensively reviewed in literature. Exchange rate volatility refers to the extent to which prices of currencies tend to fluctuate over time. Theoretical literature has provided diverging views on the effect on exchange rate volatility on trade flows. Some authors argue that an increase in exchange rate volatility implies that risk averse firms are faced with uncertainty with respect to their earnings and hence would generally respond by redirecting their activity to local markets. On the other hand, other researchers pointed out that when the assumption of risk aversion is lifted, it can be argued that market participants are more likely to take advantage of the fluctuations in the exchange rate so as to increase their profits which will cause an increase in international trade. The various empirical studies carried out on this topic have not been able to establish a clear link between exchange rate volatility and trade. Therefore from both theoretical and empirical point of view, the relationship between exchange rate and volatility is ambiguous. Mauritius is often cited as an example of a country which has undergone successful trade liberalization and export-led growth. It is also said that trade policies has shaped the countrys path of industrial development, contributing to over two decades of steady growth and propelling the country in the ranks of the â€Å"newly industrialized economies†. However since the 1960s, the Mauritius has experienced much changes and reforms in its trade policy. Early trade policies adopted by Mauritius involved an import substitution strategy while at the same time providing incentives for export promotion. However as from the 1980s, Mauritius moved towards a more outward-oriented strategy and embarked on trade liberalisation. Imports restrictions and tariffs were reduced while economic stability was maintained. By the mid-1990s, Mauritius had one of the most liberal economic regimes in Africa. Incentives for export promotion like tax incentives, preferential rates of borrowing and so o n were maintained. One of the key factors of exports competitiveness is the level of exchange rate in Mauritius which had to be kept low. In addition the exchange rate regime itself in Mauritius has been deregulated over the years in a set of financial liberalisation measures. The exchange rate regime in Mauritius has also evolved from a fixed exchange rate system to a manage float one. In the 1970s, Mauritius adopted a pegged exchange rate system where the rupee was first pegged to the sterling. The rupee started floating vis-à  -vis other foreign currencies in June 1972 while still being pegged to the sterling. However as from 1976, the Mauritian rupee was delinked from the sterling and was pegged to the SDR. The rupee-SDR peg lasted for seven years and as from 1983 Mauritius pegged its currency to a trade-weighted basket of currencies. This is because the appreciation of the dollar US which had the highest weight in the SDR basket caused the rupee to appreciate considerably and hence causing inflation. Hence the Mauritian rupee had to be delinked to the SDR. In the 1990s, Mauritius embarked on a set of financial li beralisation reforms and in 1994 exchange rate controls were removed and Mauritius adopted a manage float exchange rate regime. The evolution of the exchange rate system from a fixed to a manage float one implies that the exchange rate in Mauritius is subject to wider fluctuations. This begs the question whether the fluctuations in the rupee has any significant impact on the volume of trade in Mauritius and which of the theories advanced by researchers is applicable for Mauritius. Bilateral trade between Mauritius and USA is considered to assess this question. The rest of the paper is organised as follows: Chapter 2 presents a broad survey of the literature concerning the relationship between trade and exchange rate volatility. Chapter 3 describes the model that will be used and presents the methodology that will be applied. Chapter 4 presents the empirical findings of our study and the interpretation of our results. Finally chapter 5 presents the summary and conclusion of our study and also provides some policy implications and implications. 2.1 Introduction The 1970s saw the demise of the Bretton Woods system since a fixed exchange rate system no longer appeared feasible given the speculative flows of the currencies. This led to the adoption of a freely-floating exchange rate regime by many countries. Since March 1973, exchange rates have become more volatile and less predictable than they were during the fixed exchange rate period when changes occurred infrequently. There have been considerable investigations on the effect of Exchange rate volatility on the volume of trade. The increase in the risk of international transactions led researchers to investigate the exchange rate volatility-trade flows connection. Investigators argue that variability increases uncertainty and risk which causes firms to produce less than they would produce under certainty. This view was supported by Baron(1970), Clark(1973) and Ethier(1973). Empirical studies which yielded a negative relationship between exchange rate volatility and trade include Akhtar and Hilton(1984), Fountas and Aristotelous(1999), Arize(1997, 1998a and 1998b) and Rose(2000). However other authors have rejected this view, arguing that the exchange rate volatility have very little or at times even positive impact on trade volume. Researchers like Hooper and Kohlhagen (1978), Bahmani et Tavlas(1988), Bahmani et al.(1993), Bailey, Tavlas and Ulan(1987), found evidence of a negative effect of exchange rate uncertainty on trade volume, the effect was insignificant. Klassen(2004) also found no significant relationship between Exchange rate volatility and international trade. Research conducted by McKenzie and Brooks(1997), Franke(1991), Neumann(1995), Viaena and Vries(1992) and Baum et al(2004) on the other hand found a positive relationship between exchange rate volatility and trade. Other researchers like Cushman(1983) on the other hand obtained mixed results. This chapter provides an overview of the vast literature that covers this particular issue of exchange rate volatility and trade. Section 2.2.1 provides an overview traditional exports and imports functions used in most studies and their findings. Section 2.2.2 elaborates on additional factors which have been used in empirical studies. Finally section 2.2.2.4 outlines the research carried out to determine the relationship between exchange rate volatility and trade. Literature defines volatility as the tendency of prices to fluctuate either up or down. Exchange rate volatility is in fact a measure of how exchange rate changes over time. It has been argued that exchange rate volatility has a significant impact of the level of trade. First we will discuss the various factors that have an impact of trade in an economy. 2.2 Determinants of Bilateral Trade Flows Most of the empirical works used the traditional export and import demand models. While the traditional models were deemed to be significant in explaining trade, these works were often deemed to be unsatisfactory since several key determinants of trade were omitted which led to unreliable results and conclusions. Therefore, the traditional trade function was used in addition to other explanatory variables. Nevertheless, the major contribution of the traditional trade model in explaining exports and imports cannot be ignored. 2.2.1 Traditional Export Demand Function The traditional export demand function commonly used by many studies was expressed as a function of real income, relative prices and/or exchange rate. This was termed by Goldstein and Khan (1985) as the imperfect substitute model. An aggregate export demand linking real exports with a measure of foreign real income and relative prices is an important element in most conventional trade models. In theory, the higher the foreign income, the higher the demand for export. This is because an increase in foreign income is relative to an increase in the purchasing power of the foreign economy. Likewise an increase in domestic income will increase the demand for imports. Real foreign income were normally proxied using real GDP or real GNP or index of industrial production of the foreign economy. Relative prices were also included in the model. Relative prices are an indicator of a countries competitiveness and are normally proxied by the ratio of foreign prices to domestic prices or the ratio of import prices to import prices. Exports and relative prices is expected to have a positive relationship since an increase in relative prices implies that foreign prices are increasing which means that the competitiveness of exports is increasing. One of the most influential empirical work on export demand was that of Senhadji and Montenegro(1999) who estimated demand elasticities for a large number of developing and industrial countries using OLS and Phillip Hansenss fully modified ordinary least square techniques. They found that exports react to both the trade partners income and to relative prices in a large sample of both developing and industrial countries. Marquez and McNeilly(1988) examined income and price elasticities for exports of non-OPEC developing countries using quarterly data for 1973-84. This study was based on the two-stage square estimation technique. Import prices, real income and lagged endogenous variables were the main explanatory variables. They found a positive and significant income elasticities for exports and a significant relationship between prices and exports. Among other prominent empirical works which find a positive and significant relationship between trade and income are Sachs and Warner(19 95), Frankel and Romer(1999) and Edwards(1998). Wu(2004)constructed a foreign trade model for China using error correction model. They found a significant and inelastic relationship between relative price and export demand. Other empirical works included exchange rate as a determinant of export in their model. It is widely known in the international trade literature that a change in real exchange rates will affect trade flows directly with all other things being equal. A change in the real exchange rate rather than a change in the nominal exchange rate will affect exports and imports under the Generalized Marshall-Lerner condition. Also real exchange rate is another important measure of a countrys competitiveness. Real exchange rate is the nominal exchange rate that has been adjusted for inflation differentials. A real depreciation or devaluation of domestic currency will lead to an improvement in trade flows of a country and vice versa. This is because if the price of the currency of a country is low, its exports will be cheaper hence demand for its exports will increase. Imports also will be affected since imports will appear more expensive to local residents. However empirical works have found diverg ing results when assessing whether exchange rate have any effects on trade. Miles (1979) tested the effects of devaluation by entering the exchange rate directly into the trade flows. The results obtained were not conclusive since the exchange rate coefficient with respect to trade flows was significant in only three out of 14 cases examined. Warner and Kreinin(1983) specified the determinants of trade flows of 19 developing countries using conventional models. They found that the effect of real exchange rate changes on the volume of exports are significant as predicted by the theory. Similarly Himarios(1989) reassessed the impact of devaluation on real magnitude of trade flows and found that real exchange rates had a significant effect on trade flows. Rose (1991) analysed the relationship between the effective real exchange rate and the real trade flows for five major Organization for Economic Cooperation and Development (OECD) countries: the United Kingdom, Canada, Germany, Japan, and the United States. He found no relationship between these two variables, and thus the generalized Marshall-Lerner condition did not hold. Bahmani-Oskooee and Malixi (1992) based their work on Almon lag structure on real exchange rate but found no support for a relationship between trade and real exchange rate. However on employing the Engle-Granger cointegration approach, Bahmani-Oskooee and Alse (1994) assert that the long-run impact of devaluation on the trade balance model is positive. Bahmani-Oskooee concluded that trade flows are more responsive to changes in relative prices and to changes in the exchange rates in the long run than in the short run. Brada et al. (1997), who divided the data set into two sub-samples, reports no long-run relationship between the variables of the trade balance function in the 1970s but they have revealed reverse results for the 1980s Kale (2001) points out that a real depreciation of the domestic currency helps to improve the trade balance with a lag of about one-year and the impacts of devaluations on the trade balance are positive in the long-run. Haque et al.(1990) used a generalised non-linear 3-staged least square estimation for the period 1963-87. They used a conventional model where real imports is expressed as a function of real domestic output, real exchange rate and a lagged import term. All signs were significant. Real imports were found to be real exchange and income inelastic. While the above factors were used as the main determinants of exports, there are also other also factors which are important determinants of trade. 2.2.2 Other factors affecting bilateral trade 2.2.2.1 Inflation rate and trade Inflation is defined as a rise in the general level of prices of goods and services in an economy over a period of time. High inflation is like to have a negative effect on trade flows because it reduces exports competitiveness and makes imports cheaper. When domestic price rises, foreign goods are relatively cheaper (ceteris paribus) and demand for imports should increase, Inflation adversely affects some sections of the population, distorts relative prices, erodes value of financial assets and creates uncertainty and instability in the economy. This may lead to an overall decrease in output in the economy since investors and producers is faced with uncertainty about future prices and economic outcome. Gylfason(1998) used cross-sectional data covering 160 countries for the period 1985-1994 and found that high inflation tended to be associated with low exports in proportion to GDP. Kotan and Saygili(1999) found that inflation rate significantly and positively affect non-oil exportati on in the long-run while in short run inflation did not have any significant impact of non-oil production. 2.2.2.2 Investment and Trade   Ã‚  Ã‚  Ã‚  Ã‚  There are valid theoretical reasons why a high investment ratio should give rise to a strong export growth performance. One theoretical background is provided by Ghosh and Chandrasekhar(2001). They stated that the rate at which international trade grows varies over any period. Also a countrys ability to increase its exports would depend on its production structure and the rate at which this structure is changing. Furthermore, countries normally engage in international trade by XXXodernizesXXXg in the production of certain commodities only. Therefore a countrys ability to increase its exports will therefore depend on its capacity to rapidly transform its production structure in the direction of commodities where world trade would grow faster. The rapidity of this transformation is linked to the investment ratio(ratio of investment to GDP), that is the higher the investment ratio, the higher the rate of transformation of the production-structure and hence the greate r the ability of the country to participate in world trade, that is the greater the rate of export growth. Also production capacity, potential productivity, cost effectivesness, production process will all be increased by properly-oriented investment and hence export competitiveness should also increase. Investment is said to enlarge the production base and thus increasing production capacity. It XXXodernizes production processes and thus improving cost effectiveness. It also allows for the production of new and improved products, increasing value added in production. In addition it incorporates international world-class innovations and quality standards. All this leads to an active participation in international trade and favourably affects exports. Patnaik and Chandrasekhar(1996) in their research analysed cross sectional data for 25 developing countries for 20 years and found a positive relationship between investment-ratio and export growth. FDI is said to foster innovation and competitiveness in the local industry. Moreover it contributes to technological innovation and increased production capacity in the domestic economy. Another import element of investment is foreign direct investment(FDI) which has been argued to be a prominent factor in promoting exports. Horst(1972), Lipsey and Weiss(1984), Head and Ries(2001) and Camarero and Tamarit(2004) are among the authors that find a positive relationship between FDI and trade. 2.2.2.3 Capacity Utilisation and Trade Capacity utilization refers to the extent to which an enterprise or a nation actually uses its installed productive capacity. Thus, it refers to the relationship between actual output that is produced with the installed equipment and the potential output which could be produced if capacity was fully used. From theoretical and empirical point of view, the relationship between capacity utilisation and exports is ambiguous. On one hand, researchers argue that when firms uses excess capacity, this will increase to a general increase in capacity utilisation and will lead to an increase in output. It will be possible for firms to export more. Productivity also may increase since firms are employing more of their excess capacity. Likewise an increase in foreign capacity utilisation is likely to have a negative impact on domestic exports. This is because an increase in foreign capacity utilisation means firms are able to increase their productivity and output. Also Hooper and Kohlagen(1978) who were the first to introduce capacity utilisation in their model to determine the relationship between exchange rate volatility and exports, argued that as domestic capacity utilisation increases, domestically produced goods are delivered with longer lags and hence decreasing quantity demanded of imports. Likewise an increase in foreign capacity should decrease the demand of exports. Correa, Dayoub and Francisco(2007) in their study found that domestic capacity utilisation positively affect export intensity of Ecuador. On the other hand other authors argue that exports growth is possible mainly in the presence of large unemployment of domestic resources. Dunlevy(1979) and Artus(1977) argued that in the long run an increase in capacity utilisation will reduce the quantity of exports and increase the export prices. However Medhora(1990) found that both domestic and foreign capacity utilisation was insignificant in explaining West African imports. 2.2.2.4 Exchange Rate Volatility and trade Basic uncertainty trade models   Ã‚  Ã‚  Ã‚  Ã‚  The traditional models examine the behaviour of undiversified firms and are based on the assumption that the firms profitability is linked directly and unambiguously to the movement in one bilateral exchange rate. The variability of that exchange rate is assumed to measure the risk to the firm in conducting trade. Therefore in the simplest model, higher exchange rate risk is assumed to have a negative impact on trade, since it creates uncertainty with respect to profits of firms exports and, hence, lead risk-averse exporters to reduce their supply of exports, an effect that increases with the degree of risk aversion.   Ã‚  Ã‚  Ã‚  Ã‚  An example provided by Clark(1973) can be used to illustrate the concept of how exchange rate volatility can affect the level of a firms exports. Clark develops a model of a firm operating under competitive conditions. In the simplest version described, it is assumed that the firm produces a homogeneous commodity which is sold entirely in a foreign market. The firm has no market power and its does not import any inputs and the production decision is taken before observing exchange rate volatility, therefore output is constant over the planning horizon. Also the price of the exported good in foreign currency is an exogenous variable. The firm in paid in foreign currency and hedging possibilities such as forwards or futures market is very limited. The firm converts its proceeds from exports at the current exchange rates. Given the above assumptions, variability in the exchange rate will affect the firms level of profits since output cannot be altered in response to a favourable or unfavourable move in the profitability of exports due to exchange rate movements and there are also limited hedging techniques. Therefore uncertainty about future exchange rates translates into uncertainty on future export receipts in domestic currency. This uncertainty will be considered by the firm when deciding on the level of exports. The firm maximises the expected value of utility which is assumed to take the following quadratic form: U(p)= a p +b p2 Under conditions of risk aversion (b   Ã‚  Ã‚  Ã‚  Ã‚  However the above analysis is based on a number of restrictive assumptions. Other researchers attempted to examine the relationship between exchange rate variability and trade flows by relaxing some of the assumptions like no hedging possibilities while still maintaining the risk aversion theory. Clark (1973) notes that while risk-aversion among traders might depress the volume of a countrys exports, perfect forward markets might reduce this effect. Advanced economies have well developed forward markets where specific transactions can be easily hedged, thus reducing exposure to unforeseen movements in exchange rates. However most developing countries do not have access to such markets for currencies. Baron (1976) finds that forward markets may not be sufficiently developed, and traders may still be unsure of how much foreign exchange they want to cover. In addition, Baron provides another approach to the model developed by Clark by relaxing the assumptions of perf ect competition and by emphasising on the role of the currency in which the products are invoiced. He argues that invoicing in a foreign currency will result in a price risk. When an exporting firm invoices its commodity in foreign currency, it is faced with the risk of variations in the foreign exchange which will affect revenue. The quantity demanded will however remain the same since the price will not change over the contract period and hence the firm cannot benefit from fluctuations in the foreign exchange rate. When invoicing in home currency, the exporter will face a quantity risk. This is because the quantity demanded will be uncertain since the price of the commodity to the buyer will be uncertain. The firm will also face uncertainties regarding its cost of production since the assumption that the firm will not import factor inputs is relaxed. In both cases the risk averse firm will try to minimise its risk exposure either by expanding or contracting supply. Baron shows tha t an increase in risk will cause prices to rise which will result in an increase in supply. The higher price reduces expected profits since demand is elastic at optimal prices, but it increases expected utility. On the other hand, if the firm invoices in domestic currency, its response will depend on the properties of the demand function in the destination market. Baron shows that if the function is linear, prices will decrease resulting in an increased demand. However the price-cost margin decreases which reduces the expectation and variance of profits. Also, under the basic model, changes in exchange rate does not have any effect on real opportunities available to the firm. Firms are held to be risk averse and factor inputs are assumed to be fixed. They are also assumed to make production and export decisions before the exchange rate is known and inventories are ignored. When the assumption of risk aversion is lifted, the negative relationship between exports and exchange rate volatility can even be reversed. De Grauwe(1988) developed a model that shows that the effect of volatility on trade will depend on the degree of risk aversion. He argued that firms with a slight degree of risk aversion will decrease their exports whereas very risk averse firms will increase exports so as to avoid a drastic decrease in their export revenues caused by higher exchange rate volatility. Franke(1991) showed in given a monopolistic setting, risk neutral firms may increase exports if exchange rate volatility increases. The theory that trade may be a ffected by exchange rate volatility is also based on the assumption that factor inputs cannot be altered so as to adjust optimally to a change in exchange rates. If firms are able to adjust one or more factors of production with respect to a change in exchange rates, variations in exchange rate may provide firm with the possibility of making a profit. This view was analysed by Canzoneri et al.(2004), De Grauwe(1992) and Gros(1987). In addition, Clark et al.(2004) affirm that there are several other factors which can reduce the negative effects of exchange rate volatility and trade. They argued that a multinational firm which engages in a diversity of trade and financial transactions across several countries can benefit from various opportunities to exploit offsetting movements in currencies and other variables. For example if an exporting firm is importing intermediate inputs from a country whose currency is depreciating, this can offset a decrease in export revenues through a decrease in cost of production. Also recent studies has shown that the tendency for exchange rates to adjust to differences in inflation rates and hence if exports are priced in a foreign currency that is depreciating, the loss to the exporter from the declining exchange rate is at least partly offset by higher foreign currency export price(Cushman 1083 and 1986) Finally as put forward by Makin(1978), multinationals have many possibilitie s of internally managing their exposure to foreign exchange risk, for example by holding a portfolio of assets and liabilities in different currencies. In his analysis of exchange rate volatility, Gros(1987) takes into account adjustment costs. His model consist of a risk neutral and competitive firm which exports its entire output. It is shown that if some factor can be adjusted instantaneously, an increase in exchange rate volatility increases a firms investment. The rationale behind this is that if exchange rate for the exporting firm is high, this means output price will be high and thus the firm can increase production by utilising more of the flexible factor so as to obtain a more than proportionate increase in profits. On the contrary if prices are low, production can be reduced to limit losses. An increases in the volatility of prices means that there is the possibility for excessive prices increases. Therefore it is more desirable for firms to have high capital stock and over time the export supple function shifts upwards. In this study, exchange rate variability affects exports through its effect on investment. Another aspect of the relationship between exchange rate variability and trade is the presence of sunk cost. Sunk market-entry costs are faced by risk neutral firms when they enter the market for exports. This would arise particularly where the firm is exporting differentiated goods and require substantial investment by the firm for example to adapt their product to foreign market and to create a marketing and distribution network. Sunk cost tend to make firms less responsive to short run fluctuations in the foreign exchange rate as they would have the tend to continue to operate in the market as long as they can recover their variable costs and to wait for a change in the exchange rate which will allow them to recoup their sunk costs((Baldwin,1988; Krugman, 1989) Finally, other researches like Bacchetta and Van Wincoop (2000) conduct their study within a general equilibrium framework. They use a simple general equilibrium model for two countries where the source of uncertainty are monetary, fiscal, and technology shocks, and they compare the level of trade and welfare for fixed and floating exchange rate arrangements. They reach two main conclusions. First, there is no clear relationship between the level of trade and the type of exchange rate arrangement. Second, the level of trade does not provide a good index of the level of welfare in a country, and hence there is no one-to-one relationship between levels of trade and welfare in comparing exchange rate systems. Theoretical analysis of the relationship between exchange rate volatility and trade flows has yielded indeterminate results and hence this issue has attracted a large number of empirical researches. One of the earliest analysis was carried out by Hooper and Kohlhagen(1978) who assessed the effect of exchange rate volatility on the volume of aggregate and bilateral trade flow for all G7 countries except for Italy using time series data for the period 1965-1975. They utilised the model by Ethier(1973) for traded goods and derived equations expressing export prices and quantities in terms of cost of production reflection both domestic and imported inputs, other domestic prices, domestic income and capacity utilisation. Exchange rate risk was measured using the average absolute difference between the current period spot exchange rate and the forward rate last period, as well as the variance of the nominal spot rate and the current forward rate. Their conclusion was that they found no sig nificant effect of exchange rate risk on the volume of trade.   Ã‚  Ã‚  Ã‚  Ã‚  Cushman(1983) uses a model similar to Hooper and Kohlhagen to investigate the effect of exchange rate uncertainty on trade flows among industrialised countries. However he enhances the model by extending the sample size to include more recent data and by using real rather than nominal exchange rate. Of the 14 sets of bilateral trade flows, Cushman found a significant negative effect of real exchange rate on trade flows in 6 cases against only 2 cases where the association is statistically significant and positive. Along the same line Bailey and Tavlas(1988) did not find any significant evidence of a negative effect of exchange rate variability on trade.   Ã‚  Ã‚  Ã‚  Ã‚  The work of Akhtar and Hilton(1984) were among the few early papers which generated fairly consistent results. They derived volume and price equations for Germany and United States multilateral trade for the period pertaining to a floating exchange rate. Exchange rate volatility was measured in terms of the standard d

Surgery :: essays research papers

Surgery   Ã‚  Ã‚  Ã‚  Ã‚  My stomach and throat seemed to be playing ping pong with my heart as I entered the hospital’s waiting room. All week I had been playing it cool telling everyone that the surgery was not that big of a deal, and that I was enthused about all the attention I would be receiving. But today reality had hit me. I had never been through anything like this before.   Ã‚  Ã‚  Ã‚  Ã‚  The waiting room was sparsely filled with families waiting for their loved ones. I tried to look at the various magazines, but nothing helped relieve the tight feeling in my stomach. Finally after what seemed like an eternity the nurse called my name. I slowly got up, and headed through the door with my family. I was thankful that they were there. Their presence made me feel more at ease.   Ã‚  Ã‚  Ã‚  Ã‚  I was asked to change into the attractive dress without a back, and then I was handed some funny looking socks. I looked like an eighty year old lady in a fifteen year-old’s body with my new outfit. Another nurse entered the room to take my vitals, and give me an IV, the needle that she pulled out of the plastic looked huge. I had had shots before, but an IV was a completely different deal. After the IV was secured, I was afraid to move my arm, in case the IV fell out, because I was not having the nurse stick me again. With my vitals recorded, and my first shot administered to relax me, I was feeling slightly better about the procedure. Just when I was convincing myself that this would not be so bad, a nurse with a sour disposition came to wheel me away. Then it hit me, my family could not follow me to this next part, I was on my own. I had hardly noticed their presence for the last half hour, but now I was suddenly aware of their pending absence. As they w heeled me down the hall away from my mom, dad and sister, I had the urge to jump out of the Gurney, and race back to them.