Compare/Contrast Organic Food vs Processed Food Essays

Taylor 1 Professor Williams English 1010 7 October 2012 Organic Food vs. Processed Food How important is the food that the averages person puts into their bodies every day? Eating is a way of making peace, passing the time, sharing friendships, and having a communion. The narrator of Food Inc points out that, â€Å"The way we eat has changed more in the last 50 years than in the previous 10,000† (2008). How has it changed? Americans have gone from eating hunter-gatherer style organic greens and fruits, to severely processed sugars, carbohydrates, and high protein meats. Most Americans eat something similar to a â€Å"chicken and pasta† diet nowadays. This may not be bad, but is this â€Å"new† food really better for us than what people ate 50†¦show more content†¦Consuming fresh vegetables, fruits, and other items grown naturally without any preservatives is what the body naturally expects. It’s easy for that sustenance to be converted to energy because that’s what one’s body expects. An organic diet usually results in a trimmer and more energetic body and mind set. Eating organic is not always helpful to one’s budget; the supply of organic food is more limited than the demand. Handling the food results in higher costs because of the mandatory separation of organic and conventional products, and selling and dispersing the organic food throughout the country can also result in higher costs because it’s rather inefficient and the volumes are smaller (FAO: Food and Agriculture Organization). Fast food may appear to be cheap food and, in the literal sense it often is, but that is because huge social and environmental costs are being excluded from the calculations. Taylor 3 Any analysis of the real cost would have to look at such things as the rise in food-borne illnesses, the advent of new pathogens, such as E.coli 0157, antibiotic resistance from the overuse of drugs in animal feed, extensive water pollution fromShow MoreRelatedThe Culture Of Organics : A Way For Live Reflection Essay1564 Words   |  7 PagesThe Culture of Organics: A Way to Live Reflection My introduction to organics was, technically, in February of 2016 when I made the decision to become vegan. I began to shop naturally and organically although I was almost completely unaware of what those words meant. I shopped for those labels because that was what all the vegan websites and recipes said that I should do, not because that was what I came to know as the best decision. My more intimate meeting with organics was in August of 2016Read MoreFast Food Vs Healthy Homemade Meals Essay1293 Words   |  6 PagesFast Food vs Healthy Homemade Meals In today’s society, most people plan their daily meals around their busy schedules. Food plays an important role in our lives and most just rely on fast food because it is quicker and easier. However, devouring fast food is one of the worst choices you can make. In order to maintain proper health and prevent numerous illnesses and diseases, consuming healthy homemade meals is definitely a more ideal choice. According to a recent study, â€Å"when people cook mostRead MoreFast Food Vs. Healthy Homemade Meals Essay1321 Words   |  6 PagesFast Food vs. Healthy, Homemade Meals In today’s society, most people plan their daily meals around their busy schedules. Food plays an important role in our lives and most people prefer what is quicker and easier on a day-to-day basis. However, devouring fast food is one of the worst choices you can make. In order to maintain proper health and prevent numerous illnesses and diseases, consuming healthy homemade meals is definitely a more ideal choice. According to a recent study, â€Å"when peopleRead More50 Harmful Effects of Genetically Modified (Gm) Foods14312 Words   |  58 Pages50 HARMFUL EFFECTS OF GENETICALLY MODIFIED (GM) FOODS In a sentence This article outlines the many harmful effects of GM or genetically-modified foods (known also as genetically-engineered foods) and representng lab-created GMOs or genetically-modified organisms. By Nathan Batalion, ND We are confronted with what is undoubtedly the single most potent technology the world has ever known - more powerful even than atomic energy. Yet it is being released throughout our environment andRead MoreLas 432 - Genetically Modified Foods Essay14589 Words   |  59 PagesGenetically Modified Organisms | in Food | | Team Members: | | Team Leader: Brenda Brown | Outline Abstract by Brenda Brown and Tony Balch 3 Thesis Statement and Summary by Kelly Baker and Brenda Brown 4 GMO Technology by Vanessa Brogsdale 5 I. What are GMO’S? II. Scientific Techniques and Experiments History of GMO by Vanessa Brogsdale 12 I. Biotechnology Timeline II. Advantages and Disadvantages Political and Legal Issues by Brenda Brown Read MoreMicrobiology Study Questions Essay8522 Words   |  35 Pagesmicroscope over a light microscope, and vice versa? An advantage of the electron microscope is that it has a max. magnification of ~100,000X while a light microscope only has a maximum magnification of ~1,000X. One drawback of the electron microscope (vs. a light microscope) is that the specimen and the lenses both must be in a vacuum (otherwise air molecules would interfere w/ the path of electrons). Thus this results in an expensive and bulky microscope and complex specimen preparation. This alsoRead MorePrivate Label vs National Brands: a Comparative Study6681 Words   |  27 PagesAnalysis†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.21 i. Demographics†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦21 ii. Awareness†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.†¦Ã¢â‚¬ ¦..23 iii. Importance of Factors influencing Purchase†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦25 iv. Consumer Attitude†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.†¦Ã¢â‚¬ ¦27 †¢ Private Label Vs National Brand: Brand Strategy†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.36 †¢ Findings of Research†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..†¦.40 Section VI †¢ Implications for Retailers†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..41 †¢ Suggestions †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦...42 †¢ Conclusion†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦43Read MoreThe Impact of Agricultural Sector on Economic Growth in Nigeria18675 Words   |  75 Pagesincluding Professor Noble Nweze, Professor C. U. Okoye, Dr. (Mrs.) Ifeyinwa Achike and Professor C. J. Arene. Also, I recall collaboration with lecturers from other Departments including Animal Science, Crop Science, Soil Science, Agricultural Extension, Food Science and Technology, Home Science and Nutrition, Sociology, Economics, Political Science and others. For some years now, I have received tremendous support and cooperation from the staff and Associate Fellows of the African Institute for AppliedRead MoreMonsanto: Better Living Through Genetic Engineering96204 Words   |  385 Pageselectrical engineering division C A S E E I G H T Television New Zealand: Balancing between commercial and social objectives C A S E N I N E From greenï ¬ eld to graduates: University of the Sunshine Coast C A S E T E N Whole Foods Market, 2005: Will there be enough organic food to satisfy the C A S E E L E V E N growing demand? Wal-Mart Stores Inc.: Dominating global retailing C A S E T W E L V E 14_Hanson_3ed_SB_3869_TXT.indd 441 8/29/07 1:09:33 PM 442 INTRODUCTION A SUMMARY OFRead MoreMm-Chapter 1-3 Dawn Iacobucci17854 Words   |  72 PagesMcGrath/Getty Images ChaPter 6 B r a nds 62 What Is a Brand? Why Do We Brand? 63 Brand Name 64 Logos and Color 64 Why Brand? 66 What Are Brand Associations? 67 Brand Personalities 69 Brand Communities 70 What Are Branding Strategies? 70 Umbrella Brands vs. House of Brands 70 Brand Extensions, Line and Product Category Extensions, and Co-branding 71 How Are Brands Best Rolled Out Globally? 73 Store Brands 74 How Is Brand Equity Determined and Valuated? 74 Endnotes 76 ChaPter 7 ne w Pro duct s 78 What

Pros And Cons Of Capital Punishment - 1471 Words

Introduction Capital punishment is one of the most controversial ethical issues that our country faces these days. Capital punishment is the legal penalty of death for a person that has performed heinous acts in the eyes of the judicial system. Discussion on whether capital punishment is humane or considered cruel and unusual punishment has been the main issue this of debate for years. Recent discussion goes far beyond the act itself but now brings into question whether medical personal should aid in this practice. It is important to state that this paper will not address the issue on whether capital punishment itself constitutes cruel and unusual punishment. Instead I will discuss allowing nurses to participate in lethal injection,†¦show more content†¦Having a nurse perform this duty does not give approval of the act itself, but does abide by both the ANA and the Constitution’s stance that the person is treated humanely and with dignity. Another argument made against capital punishment it goes against the nurses’ code of ethic (similar to the Hippocratic oath for medical doctors). It is argued that participation in capital punishment would tarnish the reputation of the medical community and associate medicine with death and execution. However, the Hippocratic oath and code of ethics has previously been revised to accommodate the Roe vs Wade legislature (George, 2011), which addresses the issue of abortion. Again, the ANA takes an opposition stance regarding the topic of abortion, but does not condemn nurses from participation. A letter written by a nurse to the editor of the Nebraska Nurse questioned the ANA’s stance on both these issues stating: â€Å"The nursing’s ethical code of conduct, stipulates that the nurse does not act deliberately to terminate the life of any person. and ... historically, the role of the nurse has been to promote, preserve and protect human life ... regardless of the personal opinion of the nurse on the appropriateness of capital punishment, it is a breach of the ethical traditions of nursing, and the Code for Nurses to participate in taking the life of any person. The writer questioned if the ANA would take the same stance on nurse participation if the words capital punishment wereShow MoreRelatedPros And Cons Of Capital Punishment1608 Words   |  7 Pageswhere capital punishment is legal. As of April 2016, there have been 1,431 executions in the United States, but the number of executions in recent years has been steadily decreasing (Timmons 2017). The death penalty can be put up for moral debate, and one can ask oneself whether the death penalty is ever morally permissible. There are some pros and cons to having capital punishment. For example, deterrence and prevention are good reasons to have the death penalty, but, in reality, the cons far outweighRead MorePros And Cons Of Capital Punishment1237 Words   |  5 PagesPros and Cons of Capital Punishment INTRODUCTION Each year there are around 250 people added to death row and 35 executed. The death penalty is the most severe method of penalty enforced in the United Sates today. Once a jury has condemned a criminal of a crime they go to the following part of the trial, the punishment phase. If the jury recommends the death penalty and the judge coincides, then the criminal will face some form of execution. Lethal injection is the most common process of executionRead MorePros And Cons Of Capital Punishment1319 Words   |  6 PagesPeople and courts often justify capital punishment as society’s moral duty to safeguard the safety and well-being of its citizens. According to Miriam-Webster, capital punishment is the practice of killing people as punishment for serious crimes. Murder is the unlawful killing of another human being. There is much controversy in the punishment of offenders who have committed murder. It is the maximum sentence a person can receive if the crime of murder is com mitted. Some would say it is inhumaneRead MorePros And Cons Of Capital Punishment1303 Words   |  6 PagesCapital Punishment: The Benefits and Downfalls Taylor M. Osborne Charleston Southern University Abstract The following essay explores the pros and cons of capital punishment. A brief history of how capital punishment was introduced into modern society is included. Various resources have been used for research which include online articles, studies, and textbook references. This paper suggests the costs of capital punishment to be very high, but brings closure and justice to families, and evenRead MorePros and Cons of Capital Punishment3687 Words   |  15 Pages1.  Morality PRO: The crimes of rape, torture, treason, kidnapping, murder, larceny, and perjury pivot on a moral code that escapes apodictic [indisputably true] proof by expert testimony or otherwise. But communities would plunge into anarchy if they could not act on moral assumptions less certain than that the sun will rise in the east and set in the west. Abolitionists may contend that the death penalty is inherently immoral because governments should never take human life, no matter what theRead MoreThe Pros and Cons of Capital Punishment Essay855 Words   |  4 PagesThe Pros and Cons of Capital Punishment Since the mid 1900’s, capital punishment has brought many individuals into many diverse view points throughout the years. Capital punishment is a way of punishing a convict by killing him or her because of the crime he or she committed. Capital punishment will always have its pros and cons. There are opponents who absolutely disagree with capital punishment. And then there are advocates who support the idea. In the advocates view point, capital punishmentRead MoreEssay on The Pros and Cons of Capital Punishment1208 Words   |  5 PagesThe topic of capital punishment is one that is highly debated in our society today. Capital punishment is the ultimate punishment our society can give one for their actions. On the other hand, it is viewed as a denial of human rights that promotes more violence in our society. Religious Tolerance.org states that in the United States, over 13,000 people have been legally executed since colonial times. (Religious Tolerance) Is capital punis hment a moral act? It is not a moral punishment as it deniesRead MoreDeath Penalty: The Pros and Cons of Capital Punishment Essay527 Words   |  3 Pagesto you about these problems with the death penalty in my paper. Everyone should ask themselves what they believe. Do you believe that by killing people using the death it will save lives. The death penalty is called capital punishment. You get sentenced with capital punishment for really bad crimes. Some of the ways they do the death penalty are with lethal injection, deadly gas. In some of the foreign countries they will kill people that have been given the death penalty by a firing squadRead MoreCapital Punishment Essay667 Words   |  3 PagesAdvent Catholic Encyclopedia, Capital Punishment is the infliction by due legal process of the penalty of death as a punishment for crime. Capital Punishment, also known as, the Death Penalty has been around for centuries. The first established death penalty laws date as far back as the Eighteenth Century B.C. in the Code of King Hammaurabi of Babylon, which codified the death penalty for 25 different crimes (www.deathpenaltyinfo.org). Not only is Capital Punishment ancient, it is highly controversialRead MoreBureau Of Justice Statistics : The United States Primary Source For Criminal Justice1439 Words   |  6 PagesCapital Punishment. Bureau of Justice Statistics (BJS). U.S. Department of Justice. 25 Nov. 2014. Web. Web. 25 Nov. 2014. Bureau of Justice Statistics is the United States primary source for criminal justice statistics. The website has published information on crime, criminal offenders, victims of crime, and the operation of justice systems at all levels of government. According to Bureau of Justice Statistics, â€Å"The Bureau of Justice Statistics (BJS) is a component of the Office

Business Research for Performance in Hospitality- myassignmenthelp

Question: Discuss about theBusiness Research for Sales Performance in Hospitality. Answer: Reflective writing I have initiated this business research on the topic Factors affecting sales performance in the Hospitality industry in Australia. In this research program, I have discussed the various factors which are responsible for the change in the sales performance of the companies operating in the hospitality industry of Australia. In this reflection, I will present the key aspects discussed in the business research program, knowledge and skills which I have developed from the execution of this business research. I have discussed the various factors which affect the sales of the companies of the hospitality industry in Australia. For developing knowledge and gathering data related to these factors, different sources have been put to use in this business research program. These factors include intensive competition in the industry, decreasing customer retention, change in the perspectives of customers, increase in wastage, high employee turnover rates and increased operating cost (Tar, et. al., 2014). Sales of the companies operating in the hospitality industry of Australia are also getting affected due to the political, economic, social and technological factors. These factors are the part of the business environment which needs to be dealt in a proper manner (Kandampully, et. al., 2015). This business research has developed my knowledge regarding the hospitality industry and different factors which need to be considered while analyzing the sales performance of the company. This business research has contributed at large to my learning process and to the experience which I have gained from the execution of this program. This knowledge will be applied in different phases of the life and enhances the courage to conduct future research programs. This research has motivated me to conduct research programs in future for developing my knowledge (Cantallops and Salvi, 2014). From the execution of this business research in a successful manner, I have attained the objectives of the course. Requirements of the course need to be met for this program. For the future career, this research will act as a base and the knowledge and skills which I have developed from conducting this research. I have focused on performing the research by presenting the quality data for ensuring the reliability of the research. The research topic is a common topic and knowledge of these aspects is crucial for the future career. In the general life, knowledge of the environment and society is vital as this helps in coping with the different uncertain situations arising in front of the individual (Powers, et. al., 2016). I have performed this research program by forming a plan which has served as a guide for the activities of this research. This research has been initiated on the basis of the plans formulated. I have considered the limitations which could have affected the research program. I have considered ethical aspects for performing the research in a right manner. During the execution process of this business research, knowledge of the various aspects associated with the hospitality industry and factors affecting sales have been developed. This knowledge will help in resolving the events in future and taking advantage of the opportunity available (Tsingos-Lucas, et. al., 2017). This business research program has boosted the learning process of mine. This knowledge developed from the execution of this business research program is of great use for me as I have developed knowledge of the aspects of the business environment, the manner of performing research programs and different approaches or techniques for data collection. This program has played a very crucial role by providing a direction to the knowledge regarding the research topic (Dalley-Hewer, et. al., 2015). I have carried out this research program in three parts. In the first assignment, the discussion has been made regarding the background of the research topic, framing objectives, describing the scope of the research and presenting data gathered from secondary sources. In the second assignment, the discussion has been made regarding the approaches or techniques applied for collecting data. Action has been covered in the second assignment which has helped in the completion of the research within the time specified. I will apply the knowledge in future for taking effective steps for solving the issues or events faced in the future. As a professional, there is a need to develop a technique for resolving the issues or events faced in the professional and personal life effectively (Powers, et. al., 2016). Thus, from the above, it can be stated that this business research has contributed to my knowledge and skills. I have learned about the various factors which can affect the sales of an organization. I have developed the skills of conducting a research which will be used in future for initiating research programs. References Cantallops, A. S. and Salvi, F., 2014, New consumer behavior: A review of research on eWOM and hotels,International Journal of Hospitality Management,36, pp. 41-51. Dalley-Hewer, J., Opie, J. Knowles, N., 2015, A creative alternative to reflective writing: promoting skills of reflection through walking a labyrinth,Physiotherapy, 101, pp.e766e767. Kandampully, J., Zhang, T. and Bilgihan, A., 2015, Customer loyalty: a review and future directions with a special focus on the hospitality industry,International Journal of Contemporary Hospitality Management,27(3), pp. 379-414. Powers, E., Vance, M. Fleming, L., 2016, Teaching Reflective Writing Through Learning Communities: An Opportunity to Meet Student Needs and Improve Student-Faculty Relationships, Medical Science Educator, 26(1), pp.129133. Tar, J. J., Molina-Azorn, J. F., Pereira-Moliner, J., Lpez-Gamero, M. D. and Pertusa-Ortega, E. M., 2014, Quality Management and Performance in the Hotel Industry: A Literature Review, InAction-Based Quality Management. Springer International Publishing, pp. 1-12. Tsingos-Lucas, C., Cherie, Anticevich, B., Sinthia, Schneider, C. R., Smith, L., 2017, Using reflective writing as a predictor of academic success in different assessment formats,American Journal of Pharmaceutical Education, 81(1), pp.18.

The Three Strangers By Thomas Hardy and A Vendetta By Guy De Maupassant Essay Example

The Three Strangers By Thomas Hardy and A Vendetta By Guy De Maupassant Essay Both these stories build up mystery. However, because they are written in different ways, there is significant contrast in the way the two stories are built up. Hardys story is longer, and has much more detail than Maupassants. Hardys has more characters and there is a twist in the tale. Maupassants is simpler, to the point and only has one character. These differences in structure contribute to the contrasting styles in which the mystery is built up. The setting at the beginning of The Three Strangers, plays a big part in creating mystery. Thomas Hardy describes a lonely cottage (page 130) as solitary. The way he describes this leads the reader to think that if anything happens out there, no one would know about it. Hardys descriptive use of the weather when he says the level rainstorm (on page 131), creates an atmosphere that plays on the readers emotions. The setting for Maupassants story builds up mystery too. It opens with a horrific murder. On page 201, we are told that the victim was treacherously knifed. This is important, as straight away there is some action in it, which makes us wonder whats going to happen next. This is a clever way to build up mystery. We will write a custom essay sample on The Three Strangers By Thomas Hardy and A Vendetta By Guy De Maupassant specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on The Three Strangers By Thomas Hardy and A Vendetta By Guy De Maupassant specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on The Three Strangers By Thomas Hardy and A Vendetta By Guy De Maupassant specifically for you FOR ONLY $16.38 $13.9/page Hire Writer Like Maupassants, Hardys story gets to the point almost straight away: an incident had occurred (page 133). This is mysterious, because it doesnt tell you what the incident was until a little bit later. This builds up suspension and mystery very well. As the first stranger ascends the hill, Hardy develops mystery by using nature. The time of day helps when on page 134, it says the time of full moon. The sense of mystery is developed further through this, as a full moon is often associated with mysterious events. The way the first stranger walks also brings out the mystery in him. It says on page 134 there was caution in it, referring to his walk. This makes us wonder why and leads the reader to think that the man is scared of something, mystery being built, as we dont as yet know what the danger is. On several occasions, Hardy refers to the first stranger as a solitary pedestrian. This adds to the mystery rather well because if one is alone, no one will know if something happens to you. Later, as he is about to enter the house, the first pedestrian is described to be mentally looking through the door (page 135). This shows that he might be uncomfortable with what the people inside might ask him. This is backed up by the quotation on page 135. The question of his entry. This argument could be reinforced by the quotation on page 136. His hat hung low over his head. It is evident that the stranger doesnt want to be recognised in the house. Overall, Hardy gives the impression to the reader that the man did not want to be recognised, and he did not want too many questions to be asked about him. This builds up suspension and mystery as it tells us that something is going on, and the man has a secret. In Maupassants story, there is also a secret. This secret is being revealed to us little by little, gradually telling us how the widow will carry out the vendetta. By doing this, he introduces the idea she has had. First, he tells us that there was nothing else on her mind but this. On page 202, it tells you she had no rest. This shows she was determined to carry out the vendetta, but it seems she didnt know how to go about it. Next, he tells us that she has decided what to do. On page 202, it reads inspiration. We now know that she has decided what she is going to do, however, the reader has not been informed what it is and still, Maupassant gives the pieces little by little. The story continues and we finally get to know what is going to happen on page 203, when it says the dog tore the face to pieces. This is somewhat different to the way Hardy develops the plot. Hardy draws it out even more, and I think this helped Hardys story immensely with the build up of tension and mystery. Once the second stranger is inside, and the people at the party are asking about the strangers professions, the first stranger does not seem to be too pleased to be asked about it. It seems at first that he is keen to let everyone know what he is when he says very quickly and firmly Im a wheelwright. However, it appears that he is feeling a little too keen, especially as when the hedge carpenter says you can tell a mans profession by his hands, the first man instinctively sought the shade (page 142). All this shows that he is not telling the truth about his profession. This also adds to the mystery of the story, and again, it makes the reader wonder why the man is so secretive about himself, and why he would lie about his profession. In Maupassants story, there is a level of predictability regarding what is going to happen when it reads, on page 203; reduced the throat to ribbons. Before this, though, the clues are introduced very gradually. This also shows the determination and intelligence of the old woman. Usually a plot like this would be very well planned-out. However, it says that she had a sudden inspiration (page 202). This tells you that the woman is not a gentle, soft woman, or not in this case, at least. This is because she is so determined to do what she has to do, since it is what she has believed in throughout her whole life. Page 202 also says that the inspiration was a fierce vindictive one. The woman had forced herself to be less shy and timid, especially to be able to carry out the vendetta on her sons behalf. This builds up mystery well, as it means that the woman could be unpredictable as she is not her usual self. Hardy also uses this method in his story. He does not disclose to us the next mystery that is about to arise. The mystery is what the second stranger does for a living. There are clues scattered about when he talks. For example, on page 138, it says not a face without power. This gives the impression, that at least he is a boss of some kind or in charge of something. He was in fact, in charge of something, that thing being other peoples lives. Something that could put you off track however, is the second strangers kindness. On page 140, he says relieve the needy. You dont really expect an executioner to help the needy, as if he didnt kill people every week, so this is a clever way to draw out the little mystery. Later on, when asked about his occupation, the second stranger says I leave a mark upon my customers (page 142). This is again a clue to the strangers profession. Finally, in the second verse of his song, he gives his final clue. A post whereon to swing (page 143). The post is the hanging pole, and they are swinging because of the rope holding them up by their necks. I think Hardy has used this riddle well, for as well as leaving the readers to unfold it themselves, he has placed into their minds the question what will this man have to do with the rest of the story? It was clever to use this riddle, as it builds such great suspense, that mystery is built up immensely in this part of the story. The third stranger comes in and flees so suddenly, that it is obvious that there is significance in the way he does so. It must provide a vital clue to the story. After he has fled, the party in the cottage wonder why he did so, which is what the reader is intended to wonder too! When they hear the gunshot, and suspect what this man might have done, the story starts to unfold. After they have thought about it for a while, and heard the shots going off at regular intervals, it says their suspicions became a certainty (page 146). After they supposedly become certain of their suspicions, the second stranger puts himself in charge of drawing up a plan. This plan consists of some danger. This also excites the reader, making him wonder whats to come. On page 147, the constable says, staves and pitchforks. This shows that Hardy is developing a sense of danger, which helps the build up of mystery in the story. On page 148, the first and second strangers are back in the cottage. They seem very confident of the others, as they say theyll have him. Although they seem confident, the reader is not supposed to be so sure. This helps greatly in the mystery development, as it helps to form suspense. Hardy has used this well, as when the reader finds out the whole thing was a red herring, he is excited by what the true answer is. Red herrings are important for mystery stories because they excite the reader. The example in Hardys story is used very well. Maupassant does not have a red herring in his story. This is makes it is shorter and more to the point. Maupassant finishes his story how he started it: with a horrific murder. On page 204, it says the dog seized his throat. It also says that when the dog was finished, Nicolas Ravolati writhed. This shows that the death was a very painful one. Of course, it seems that the woman has got away with it. However that is what Nicolas thought. If the story had continued, we might have learnt that the old lady herself had been murdered in a vendetta for his life. In leaving the ending open, Maupassant is still building the sense of mystery even though the text has concluded! At the end of Hardys story, when he writes the explanation, he tries to make it really interesting for the reader. First, before the real answer is explained, the magistrate says havent you got the man after all? (Page 151)? This makes the reader wonder who the man really is, and why the third stranger ran away if he is not the man. Gradually, from here on, Hardy explains the real answers to these questions. First the third stranger says the condemned man is my brother (page 151). This is the first thing that is revealed. Still, though most of the questions remain. The next revelation is the real identity of the criminal. On page 151, the third stranger says my brother was in the chimney corner. This is the mystery solved, and Hardy has done this in a very shrewd way. He has kept readers guessing to the last second. Hardys explanation summed up the whole story well, and explained the puzzle. This enthrals the reader and the whole story has built up the sense of mystery very well. I noticed that both stories used isolation as a way to build up mystery. Hardy used it as in the isolation of the little cottage, whereas, Maupassant used it as in the isolation of the widow. On page 201, it says the widow refused to let anyone stay. The authors are building up mystery in the same way, but in a different context. I can now say that I immensely enjoyed reading both of these stories. They had both contrasts and comparisons, but more contrasts. The two stories built up mystery very well, but they built it up in completely different ways. I think this is because both authors were not setting out to write the same kind of story. I personally preferred Hardys story. I think this is because it built up mystery in a very shrewd way so that I was guessing what the answer would be right until the very end. One part that I did enjoy greatly, however, was the red herring. I found this to be a very clever way of putting readers off course from the real answer, as it did to me. I did enjoy Maupassants story as well, but I didnt find it as mysterious as Hardys. In conclusion, I would like to say that I think both stories built up mystery well, but I think Hardys built it up to a greater effect.

How to Write a Dbq Essays

How to Write a Dbq Essays How to Write a Dbq Essay How to Write a Dbq Essay 1. Writing Essays for the AP World History Exam Document Based Question 2. APWH essays 3 essays Doesn’t matter which essay you write first Label the essay so that a reader can figure out which one you are writing ? or 50% of total test score and each essay is equally weighted Must not spent all of your time on one essay although the DBQ will take a little longer as you must read the documents Every single point count and even if you are running out of time you write whatever you can 3. Document Based Question Know the rubric Quickly tackle the documents to look for categories to form your thesis Draft your thesis and note your groups Draft your issue sentences (list the possible documents that relate to this issue)? Find your evidence (from the documents)? Make a quick list of the documents or devise a manner to determine when you have used all of the documents Tackle your documents again for POV (a 3 rd time)? Finish your outline, THEN write your essay 4. Rubric You can score 9 points on the DBQ. You can score 7 points on the Core. In you earn all 7 points on the core, you might be able to earn 2 bonus points. Don’t worry about the expanded core as it will be there if you follow the steps to writing the DBQ 5. Thesis If you don’t have a thesis or you have a really bad one it could cost you THREE points. 6. EVERY DOCUMENT must be mentioned at least ONE time in your essay. You cannot â€Å"double-dip† for document points (besides mentioning them). You must use documents more than once for it to count more than once. Understanding means you interpret it correctly (discuss/analyze it). You then use the document as evidence. To get points for grouping, you only need to put it in a group. 7. Specific question: Start with thesis†¦ If it includes dates, they are important – You must make your points inside the time frame. You can mention events outside the time frame but these will not get points. Should include the dates in the thesis statement Factors: Identify the time period or region or even the issue and you might have some clues. Start with systems (Social, Political, Economic, Cultural, Educational, and even Technology, Intellectual or Religious issues) then narrow down the issues within this system. . READ THE DOCS AND PULL OUT COMMON THEMES, CONCEPTS AND WRITE THEM AROUND EACH DOCUMENT 9. Attack the documents and look for issues and factors and common themes. That will shape your thesis. Fine tune the issues and factors by creating narrow categories Factors, factors? PEACE or nationalism 10. Another Factors†¦factors†¦ Nationalism or the economy!! Notice you might be able to u se document in several categories 11. Continue identifying factors issues Oh†¦ this is also about making money – economics – earnings, profits, etc†¦2 documents make a group. 12. Thesis Think of your thesis in three parts†¦ Answer the question that is asked in one sentences (this is your argument and what you assert). Indicate the grouping and categories that you will use to address the question. You will have more groups than just 3 – more later. Define your categories as to what you will address in each group (especially if it is a very broad category) by narrowing the category using words like type (of profits) methods (of earnings) Leave space around thesis so that as you write you can place new phrases or alter the thesis based on what you proved 13. Thesis The initial goal of the modern Olympics planned in 1892 was to promote world peace, but from 1892 to 2002 issues such as corporate profit, the rise of nationalism and feminism, as well as cold war issues that required the demonstration of political and military power influenced the individual and overall goals of late 19 th and 20 th century Olympics. One sentence and preferably at the end of the 1 st paragraph. 14. Improve this to get points 15. This also need tweaking 16. These are historical INFORMATIVE essays and the only thing that matters is if you use evidence to support your argument. You must make an assertion then prove your assertion 17. Application The initial goal of the modern Olympics planned in 1892 was to promote world peace, but from 1892 to 2002 issues such as corporate profit, the rise of nationalism and feminism, as well as cold war issues that required the demonstration of political and military power influenced the individual and overall goals of late 19th and 20th century Olympics. Group 1 concept Sentence Group 2 concept Sentence Evidence from Docs and when possible POV Conclusion and if you have not done additional document do it NOW!! Group 3 concept Sentence Evidence from Docs and when possible POV Evidence from Docs and when possible POV 18. Application The initial goal of the modern Olympics planned in 1892 was to promote world peace, but from 1892 to 2002 issues such as corporate profit, the rise of nationalism and feminism, as well as cold war issues that required the demonstration of political and military power influenced the individual and overall goals of late 19th and 20th century Olympics. One of the factors that shaped the Olympics was the rise of nationalism. Nationalism created a new role of women and the Olympics created an environment where this role could be promoted Evidence from Docs and when possible POV Conclusion and if you have not done additional document do it NOW!! Nationalism sometimes dictated the demonstration of political and military power. Evidence from Docs and when possible POV Evidence from Docs and when possible POV 19. Point of View must be analysis and not just a statement WHO/WHAT says it†¦ WHAT does he/she say (this could be used as evidence to support your thesis)? WHY does he/she say it (this is the POV and this is where you get POV points. 20. Examples 21. Point of View This is a POV. 22. No point for this because incorrect This is incorrect. The Cold War did not end in 1980. 23. Attempt to do POVs for EVERY document†¦Yes, every document. Do enough correctly and you get into the expanded core!!!! You don’t have to do POV for every document 24. 25. Example of Point of View Willy Brandt, Chancellor of West Germany expressed great support for the ECC. Brandt stressed the importance of the ECC and how it might lead to lasting peace in Europe. According to Brandt, the ECC would be as significant to Europe as the Marshall Plan was; however, since Brandt made these comments at Harvard University, he might have chosen the American Marshall Plan to highlight so that he could better connect with the American audience (doc. 9). 26. Another example 27. Hints for POV Consider the following about each person Title, position, or job (economic motives, political motives, etc. )? Male/female Country or religion of the person (in favor of country or historically doesn’t like people from a different country; supports or dislikes a religious group)? Date the statement was made (around a war)? Consider the type of document and why it was created†¦ Political speech, diary entry, newspaper article )what type of paper)? Maps, graphs, charts – who created it and why Pictures, paintings – who paid for it? 28. Additional document: Allows for another voice to be heard The additional document†¦ Something that might change the outcome of your argument This is simple, if you do it right†¦you re really saying whose voice is NOT heard and what their voice would add to the discussion. Women Poor Those who â€Å"lost† Workers Ethnic Groups Look for obvious omissions 29. Where can I put the additional document? Officially, anywhere, but just like POV, about ? of the â€Å"additional documents† are wrong, so I say include one per group – REMEMBER TO SAY WHY – ANALYSIS 30. Another one Relate the factors to the Olympics 31. Another prompt So any additional document would have to apply to attitudes toward technology†¦ 32. Does this count? 33. Why does only one of these count? 34. Notice what counts here 35. Another example 36. 37. Expanded Core Forget about it†¦ You are going to provide POV for each document and at least 3 additional documents (one per group) – your Expanded Core is met!!! 38. 39. Notice that they usually give the rubric.. 40. GENERAL PROBLEMS NOT ADDRESSING THE PROMPT SIMILAR BUT NOT DIFFERENT CHANGE BUT NOT CONTINUITY LOSING FOCUS GIVING UP GOOD LUCK AND NEVER, NEVER, NEVER, GIVE UP

Cutting the Mustard

Cutting the Mustard Cutting the Mustard Cutting the Mustard By Maeve Maddox I read an online comment in which the writer said that something wouldn’t â€Å"cut the muster.† I cruised the web a bit to see if this is a common alteration of the idiom to cut the mustard. It doesn’t seem to be too wide spread, but it’s out there. Apparently there’s a mix-up with the expression to pass muster, meaning â€Å"to meet a required standard.† Ex. You call that project â€Å"finished†? It doesn’t pass muster with me! muster: Chiefly Mil. An act of calling together soldiers, sailors, prisoners, etc.; an assembling of people for inspection, exercises, etc. We can say: The general mustered his troops. The private did not pass muster because his shoes were dirty. The expression to cut the mustard derives from associations with the spicy condiment. The expression keen as mustard dates from 1679. Ex. That lad is keen as mustard. (He’s enthusiastic and bright.) Mustard is pungent. It’s strong. It’s hot stuff. It adds flavor to bland food. There was a cowboy expression, the proper mustard, which meant â€Å"the genuine article.† Perhaps from that use mustard came to mean â€Å"the best.† The word â€Å"cut† in the expression hasn’t anything to do with snipping off leaves. It’s used in the sense it has in the expression to cut a fine figure. A person who can cut the mustard has strength and energy. It’s the lack of these qualities that would cause someone to say, â€Å"He’s too old to cut the mustard.† Being unable to cut the mustard doesnt always imply that a person is too old. It may mean that the person, of whatever age, simply hasnt got what it takes to perform a particular activity: Perhaps I could get a job as a maid in somebody’s houseIdden convinced me I would never cut the mustard at this occupation. Hons and Rebels, Jessica Mitford. Marlene Dietrich and Rosemary Clooney used to sing a song called Too Old to Cut the Mustard. Want to improve your English in five minutes a day? Get a subscription and start receiving our writing tips and exercises daily! Keep learning! Browse the Misused Words category, check our popular posts, or choose a related post below:When to Capitalize Animal and Plant NamesUsed To vs. Use ToEnglish Grammar 101: Prepositions

Project Management 7 Essay Example | Topics and Well Written Essays - 500 words

Project Management 7 - Essay Example This may leave the organization trying to look for different consumers, which may not be an easy task. The severity of such changes might be tremendous. Information about poor products might spill over to the target market as consumers choose to voice their concerns about products from that organization. The project’s parameters may be affected negatively in the sense that the scope may be reduced as the changes take time to reach the target market. The schedule for release and sale of the products may have to be moved forward as the changes cannot be mended overnight. If there was the option of making these changes, the quality of the product may be affected as willingness and focus may be missing factors in the final production of the products (Dodds, 2003). In such a case, there are at least three possible courses of action. One might be to ignore the problems relayed by the product engineer while hoping for the best in terms of customer satisfaction. The second action might be to delay or re-schedule the shipping of the product to a later date. This might give the company time to make the needed changes and save face in the midst of all the adversity. The third action might be to inform consumers of the changes in the product. This is to avoid any confusion that may arise upon opening of the package. Each course of action mentioned may have its ramifications. Delaying shipping may result in the cancelling of subscriptions for the product. Announcing the changes in the package may result in a few disgruntled consumers who might have loved the product because of the initial look it had. Ignoring the problem might result in loss of a tremendous amount of consumers, and a recovery might seem unlikely. I would recommend having a delay in shipment to allow the changes to take place. Even though, a few consumers might be annoyed, it will still give the organization room to retain some of the loyal

Employee resourcing Essay Example | Topics and Well Written Essays - 3000 words - 1

Employee resourcing - Essay Example The contrast between these two classifications is that in external selection process, employments are not constrained like corporate recruiters (Tong & Shivanand, 2005). Companies have taken up advanced methods to perform their human resource practices like recruitment, selection, preparing and promotions and appraisals, execution evaluation and so forth. Online recruitment is successful regarding fast data accumulation of seeker, giving definite and uniform information to the petitioner sand efficient (Internet Recruiting: Is It Right for you, July 2001). This discovering is further backed by Hopkins & Markham (2003) study which contends that to accelerate the recruitment process, online recruitment is acknowledged as the best practice. Online recruitment is likewise compelling regarding performing ability administration process (Burbach & Royle, 2010). These discoveries are tested by the report dependent upon the point of view of top official. It states that top executives normally stay away from web selecting because of their hesitance towards the utilization of web to seek work (Top Executives Shun Internet Recruiting, April 2000). As stated by these executives, web does not give itemized impression of their encounter that is essential for indicating their learning range. It could be contended starting here that still there is a need to enhance the discernment of top executives to make them understand that online recruitment and choices are powerful. It is additionally recognized that Davenport Management Limited, a UK firm has attained colossal profits after the execution of contracting administration framework (HMS), an online recruitment and choice regarding diminished recruitment expense, employing of value hopefuls and speedy determination process. At NHS, E-recruitment methodology takes after an orderly approach to enroll individuals in a practical manner and spares time of applicants (Recruitment

Political Power Essay Example for Free

Political Power Essay A gets B to do something that he or she would not otherwise do. Does this sum up the essence of political power? Political analysis can be defined quite simply as the analysis of the nature, exercise and distribution of power.1 This argument is criticised of being too broad, excluding almost nothing, nevertheless it is reasonable to argue that power is the central theme which lies throughout the study of politics. Therefore defining the concept of power is one of the crucial things in the study of politics consequently it is often contested and can never be agreed among the scholars. This essay will focus on so-called the faces of power controversy in the post war period. First of all, the idea which consists of the first and basic part in interpreting power will be introduced. Then what its critiques argue and their flaws will also be discussed to draw the conclusion how far the argument A gets B to do something that he or she would not otherwise do reflects the essence of power. The faces of power debate was raised from different theoretical traditions and approaches to political analysis. Basically the argument is about whether the concept of power is simple and quantifiable or it is rather complicated and intuitive concept which cannot be measured. Lukes2 acknowledges that this concept can never be settled. Alternatively he accepts the broad definition of power as As ability to get B to do what he or she would not otherwise have done but tries to highlight 3 different ways in which A can influence Bs behaviour: decision-making, agenda-setting and thought control. The one face of power power as decision-making was suggested by Dahl in the early post war years. The thesis put forward above was originally proposed by him and this one-dimensional view of power was significant and influential in 1950s. Power is somehow about getting things done, and is therefore most clearly reflected in decision and how they are made.3 For Dahl, in order to find out power relationship, three steps are needed. First, a number of decision areas are selected and then the actors involved in that decision and their interests are figured out. Finally by comparing the decisions made and the actors preferences, the power relationship can be revealed. In this sense power is understood as a concept which can be simplified and quantified. A clear example was shown in?Political Analysis?: Anna buys Bens car for à ¯Ã‚ ¿Ã‚ ½500 which is actually worth à ¯Ã‚ ¿Ã‚ ½800 and both of them are aware of the real value. In this case, Annas power has been exercised over Ben in terms of decision-making since this decision would not have been the case if he had an influence in the process. One of the critical assumptions here is that the actors involved are fully aware of the information. Anna could have made this deal without exerting power if Ben did not know the real value. This argument of power as a decision-making does often make sense in tripartite political system where a number of different parties exercise their influence on controversial issues. In this case it is obvious to see the frequency of a particular partys preference coincides with the final decision. Thus, how far they have influence on decision-making can be understood in terms of their political power. However Dahls argument faces critical attack in a sense that it too focuses on its narrow concept of power in decision-making. First of all, since only the key decisions are studied, it raises the problem of how far we are capable of distinguishing key issues and routine issues which are often ignored. Moreover, it does not take the potential power into account. In this manner, the power which is not exerted cannot be regarded as power. For instance, some business groups would not be concerned with the welfare issues until they realise the increased burden for welfare tax. Then it might be possible for them to begin exercising their power which has not been exercised without any explicit need for it. Also as assumed from its name, it only uncovers one face of power ignoring other circumstances in which decisions are prevented from happening, the area of non-decision-making.4 This gave a rise to the second face of power argument by Bachrach and Baratz. According to their view, power should be understood as agenda-setting which is the two dimensional approach. Power might be manifested not only in doing things but also in ensuring that things do not get done.5 What they basically insist is that power is exercised in choosing what should be involved in formal discussion and what should not be. In other words, who holds the power needs to be understood in agenda-setting process before the actual decision-making process. In this way, they have broadened the boundary in the concept of power. This kind of approach is well shown in the liberal democratic system where parties are seen as the medium of representing a particular preference on issues. However they can actually block a certain kind of issue to be discussed by disregarding it or make an agreement not to raise the issue. It is difficult to quantify the concept of power from this approach nonetheless not impossible. Thus they agree with the one-dimensional approach in a sense that there should be observable and demonstrable evidence of power relationship between the one who exercise power and the other who are subject to the power. However the attempt to limit the concept of non-decision-making to observable behaviour is entirely arbitrary6 since it does not take in the case in which the subordinated do not recognise themselves as being subordinated. Consequently this problem gave a rise to the third-dimensional view introduced by Lukes. According to his argument, the basic assumption of the above two views is not quite right. What people believe as their interests does not necessarily mean their real interests. The ability of A to exercise power over B, not by getting B to do what he would not otherwise do, but, by influencing, shaping or determining his very wants'7 What is meant here is that power lies in shaping peoples consciousness rather than their actions. In other words, without forcing them to do something visibly it is possible to make them do regarding that as natural and beneficial for them. This can be true where peoples preferences are often influenced by social experiences such as culture, education and media and these can be manipulated by those who have the power. In this way it naturally leads to the concept of false consciousness which reflects the idea that people are prevented from recognizing the fact of its own exploitation8 However Lukes argument also faces severe criticism. Back in the example of Anna and Ben, the critical point is not in the fact that Anna forced Ben to do something that he would not otherwise do, but in the fact that Ben behaved in a way which is contrary to his genuine interest. This raises a problematic point that who is to know Bens real interests. In effect, It is impossible to argue that peoples perceptions and preferences are a delusion, that their felt needs are no their real need, without a standard of truth against which to judge them.9 In this sense this debate become meaningless since there is no scientific method which to prove and make an absolute judgement over this. Furthermore it is contested that nobody is capable of distinguishing the autonomous decision based on real interests and the one based on felt interests being manipulated from powerful. To conclude, the debate over the concept of power has been developed from the shallow one dimensional understanding to a more intuitive and complex three dimensional one. It cannot be said that the effort of developing it into more sophisticated form has always been successful. However through this process, it is true to say that the concept of power has been understood from various approaches which enabled better understanding. Nevertheless the important point to note is that the latter has never attempted to replace or deny the former approach since no single argument can define the political concept of power by its own. Rather, it has its root in the former argument and tries to make it more convincing. From this point of view, power is definitely something which enables A gets B to do something that he or she would not otherwise do. Therefore on one hand, it is possible to say that the essence of power lies in this argument to a certain extent but there can be plural ways dependi ng on approaches in doing so. (1,419 words) References Clegg, S.R. (1989:11) Frameworks of Power. London: SAGE Publications Ltd. Hay, C. (2002:168) Political Analysis: A critical introduction. Basingstoke: Palgrave. Heywood, A. (2004:122, 124, 125, 127 and 128) Political theory: An introduction (3rd edn). Basingstoke: Palgrave Macmillan. Goverde, H. et al. (eds) (2000:26) Power in Contemporary Politics. London: SAGE Publications Ltd. Bibliography Clegg, S.R. (1989) Frameworks of Power. London: SAGE Publications Ltd. Goodwin, B. (1997) Using political ideas (4th edn). Chichester: John Wiley Sons Ltd. Goverde, H. et al. (eds) (2000) Power in Contemporary Politics. London: SAGE Publications Ltd. Hay, C. (2002) Political Analysis: A critical introduction. Basingstoke: Palgrave. Heywood, A. (2004) Political theory: An introduction (3rd edn). Basingstoke: Palgrave Macmillan. McLean, I. McMillan, A. (2003) Oxford concise dictionary of Politics (2nd edn). Oxford: Oxford University Press. 1 Hay, C. (2002:168) Political Analysis: A critical introduction. Basingstoke: Palgrave. 2 Heywood, A. (2004:122) Political theory: An introduction (3rd edn). Basingstoke: Palgrave Macmillan. 3 Heywood, A. (2004:124) Political theory: An introduction (3rd edn). Basingstoke: Palgrave Macmillan. 4 Heywood, A. (2004:125) Political theory: An introduction (3rd edn). Basingstoke: Palgrave Macmillan. 5 Clegg, S.R. (1989:11) Frameworks of Power. London: SAGE Publications Ltd. 6 Goverde, H. et al. (eds) (2000:26) Power in Contemporary Politics. London: SAGE Publications Ltd. 7 Heywood, A. (2004:127) Political theory: An introduction (3rd edn). Basingstoke: Palgrave Macmillan. 8 Heywood, A. (2004:128) Political theory: An introduction (3rd edn). Basingstoke: Palgrave Macmillan. 9 Heywood, A. (2004:128) Political theory: An introduction (3rd edn)). Basingstoke: Palgrave Macmillan.

The Last Empress by Daniele Varè Essay -- China Literature Essays

The Last Empress by Daniele Varà ¨ The Empress Dowager Tzi-his (1835-1908) was a unique ruler unlike any other China had ever seen. She is considered to be one of the most influential people in Chinese history, a rarity in the male dominated Chinese world. The empress dowager exerted great power over the Chinese empire and influenced the political structure in ways it had never been influenced before, making many great reforms that she believed would help the Chinese people. Born on November 29th, 1835, Tzi-hsi was named Yehonala after her tribe. Her father, Huei-cheng died when she was a child and her family took care of her until she was sent to Emperor Hsien-Feng’s court as a concubine. Although Hsien-Feng had many wives and concubines, Tzi-hsi was the only to bear him a son. In 1861, the Emperor died and his court was left to the son, who was not of age and thus Tzi-hsi was able to rule through her son, The Emperor Tung-chih. When he turned 17, she was forced to give up her immediate power to him. Tung-chih died in 1875. Through much controversy and manipulation, Tzi-hsi was able to convince the court to nominate her choice as successor, and when the Empress of the Eastern palace died, Tzi-hsi became the sole surviving regent of the empire (Varà ¨). Shortly after, Tzi-hsi was forced to give up her regency and retired to a summer palace, but she soon resumed rule over China. From that moment on until her death in 1908 she ruled China, instilling new policies and reforms into Chinese culture. There have been many assertions and assumptions about Tzi-hsi’s policies and their value to the history of China and her popularity among Chinese citizens (her tomb was raided and destroyed). Regardless of these opinio... ...its objectivity. It provides a clear picture of the Empress’ life in her cultural context and the impact it had on China. I recommend this book to anyone exploring the life of the Empress Dowager—whether it be her personal life, her social life, or her political life. The book truly does provide an extensive amount of information about the Empress—its age stands testament to this (it has been around for 70 years), and I would highly recommend it. Works Cited â€Å"Biography.† Rev. of The Last Empress by Daniele Varà ¨. Saturday Review of Literature 14 Sept. 1936: 19. Gilroy, Thomas J. Tzu-hsi: The Empress Dowager from China. 16 Nov 2002. King’s College History Department. King’s College. 3 Mar 2004. Varà ¨, Daniele. The Last Empress. New York: Doubleday, Doran & Company, Inc., 1936.

Explain How the Procedures of the Work Setting Protect

Explain how the procedures of the work setting protect both children and young people and practitioners. Not only do Gap Club’s procedures protect the children who attend the club but they also protect the staff too. An example of this would be the policies and procedures relating to the receipt, storage and administration of medicine. All staff at Gap know that this should be strictly adhered to as the aim of the policy is to protect us and the children against medication errors.The dose and frequency of a child’s medication should be very clearly stated and must always be followed exactly, this is because there is considerable risk of harming a child if they are given medication that has not been prescribed to them or if the medication they do need is given to them at the wrong time or in the wrong amount. If a member of staff were to issue a child with incorrect medicine then they could well face losing their job or end up entering a lawsuit, especially if a child be comes seriously ill. Not only do Gap Club’s procedures protect the children who attend the club but they also protect the staff too. Associated essay: Procedures For Infection ControlAn example of this would be the policies and procedures relating to the receipt, storage and administration of medicine. All staff at Gap know that this should be strictly adhered to as the aim of the policy is to protect us and the children against medication errors. The dose and frequency of a child’s medication should be very clearly stated and must always be followed exactly, this is because there is considerable risk of harming a child if they are given medication that has not been prescribed to them or if the medication they do need is given to them at the wrong time or in the wrong amount.If a member of staff were to issue a child with incorrect medicine then they could well face losing their job or end up entering a lawsuit, especially if a child becomes seriously ill. Not only do Gap Club’s procedures protect the children who attend the club but they also protect the staff too. An example of this would be the po licies and procedures relating to the receipt, storage and administration of medicine. All staff at Gap know that this should be strictly adhered to s the aim of the policy is to protect us and the children against medication errors. The dose and frequency of a child’s medication should be very clearly stated and must always be followed exactly, this is because there is considerable risk of harming a child if they are given medication that has not been prescribed to them or if the medication they do need is given to them at the wrong time or in the wrong amount.If a member of staff were to issue a child with incorrect medicine then they could well face losing their job or end up entering a lawsuit, especially if a child becomes seriously ill. Not only do Gap Club’s procedures protect the children who attend the club but they also protect the staff too. An example of this would be the policies and procedures relating to the receipt, storage and administration of medicin e. All staff at Gap know that this should be strictly adhered to as the aim of the policy is to protect us and the children against medication errors.The dose and frequency of a child’s medication should be very clearly stated and must always be followed exactly, this is because there is considerable risk of harming a child if they are given medication that has not been prescribed to them or if the medication they do need is given to them at the wrong time or in the wrong amount. If a member of staff were to issue a child with incorrect medicine then they could well face losing their job or end up entering a lawsuit, especially if a child becomes seriously ill.

Cat on a Hot Tin Roof Essay

A critic has written that a family at the centre of the party â€Å"is clothed with the atmosphere of the south as with a garment. † How important is the setting of â€Å"Cat on a Hot Tin Roof† to the play’s dramatic impact? You may consider: – The bed sitting room of the stage set – The wider, geographical setting of the Mississippi Delta – The values of the play of the society revealed in the play In my opinion, the setting of the play is vital to the level of dramatic impact for a number of reasons. The main themes behind â€Å"Cat on a Hot Tin Roof† are represented and shown through the setting of the play. For example, the whole play is situated around the bedroom sitting area to put forward a key theme of the play: sexuality. If the setting wasn’t relevant to themes of the play, the audience would find it difficult to fully understand key elements of the play that Tennessee Williams was trying to put across. The bed sitting room in which the play is based around belongs to Brick and Maggie, two main characters. The irony of this being that bedrooms are assumed to be private and personal, yet it’s the most invaded room in the house. A prime example being when Big Mama, Brick’s mother enters the bedroom, commenting on how she â€Å"hates locked doors in a house†¦ † Maggie’s responds lightly by stating that â€Å"†¦ people have got to have some moments of privacy,† only to receive the invasive and ignorant reply â€Å"No, ma’am, not in my house. † Even as early as Act One, we witness the couple’s privacy being denied. The bed sitting room is also where many secrets of the family are eavesdropped on and later revealed. Again, as early as the start of Act One, Maggie reveals that â€Å"The walls in this place have ears,† clearly, it’s not only Big Mama being prying into the couple’s affairs. It’s also greatly ironic that the scorching heat outside is completely conflicting to the â€Å"heat† inside Maggie and Brick’s bedroom. It becomes increasingly apparent as the play develops that there are blatant problems facing the couple’s sexual relationship, again emphasising the recurring themes of sexuality, homosexuality and mendacity. The fact that the play is based around the bedroom of Brick and Maggie also helps the audience gain a better understanding of their characters, especially Brick’s. Not once throughout the entire script does Brick approach another character; it’s always the other characters that approach him. This shows the audience how reserved Brick is and how he likes to keep himself to himself, despite him being in such high demand with his fellow family members. These qualities of Brick are vital in the understanding of the play’s plot. The geographical setting of the play also greatly affects the dramatic impact. The play is set in the irritatingly hot Mississippi Delta, symbolising both the argumentative tension between characters such as Mae and Maggie and also the sexual tension between characters like Maggie and Brick. The plantation itself is relevant to meanings behind the play and its dramatic impact. Being built on very fertile land, the plantation shows the irony of Maggie’s great desire to become pregnant, contrasting with Mae who has six, irritating children. It also reinforces that the family are staying on Big Daddy’s property. Big Daddy has the power over both his wife and his sons, for it’s his decision as to who will inherit the land. â€Å"I’ll tell you what they’re up to, boy of mine! – They’re up to cutting you out of your father’s estate†¦ † The question of which son gains Big Daddy’s estate occurs regularly, causing conflict between the two couples. Whilst enhancing dramatic impact, it also represents the themes of mendacity and money. The history of the plantation itself relates strongly to the theme of homosexuality. Two homosexual men (Peter Ochello and Jack Straw) used to own and live on the plantation whilst Big Daddy worked there. With no family to pass the land onto, they handed it over to their loyal employee, Big Daddy. Knowing the history behind the place, the audience almost expects the theme of homosexuality to occur once again and indeed it does, this time with Brick and his friend Skipper. The South itself is also relevant to the play’s dramatic impact and putting it into context. With knowledge of the Civil War, slavery and enormous amounts of racism that took place in the South which was to some extent still very much present in the time the play was set, the audience is able to gain a better understanding of smaller characters and their relevance. Language is used for example that today would be considered racist such as when it says â€Å"A negro voice answers. † The black servants are mere voices in the play because of the script’s context. The South’s battle to cling onto slavery is reflected in the characters when some try desperately to cling onto their past. For example when Brick tells Big Daddy â€Å"†¦ Skipper and I went into pro-football after we left ‘Ole Miss’ because we were scared to grow up†¦ † The family values in which the play is set on is responsible for a lot of dramatic impact. Mae and Gooper’s lack of family values and determination to do whatever it takes to inherit Big Daddy’s plantation contrasts wonderfully with Big Mama’s determination for everybody to get along with one another, â€Å"We must all love each other†¦ † The great contrast allows the audience to delve, even further into the themes of money and family. It’s shown through the play’s entirety that money values only destroy families. The sexual values of the time were to have lots of babies as May and Maggie show us. May is constantly competing with Maggie, using the fact that she’s childless to win arguments, â€Å"Maggie , honey, if you had children of you own you’d know how funny that is†¦ † Maggie also feels the need to lie at the very end of the play by telling her family that she’s pregnant. The homosexual value of the play is quite relevant as Brick finds refuge in his bedroom and by drinking large amounts of alcohol to escape his homosexual feelings. Both women being expected to have lots of children and Brick having to turn to drink in an attempt to block out unwanted feelings are due to the time that the play was set and what was expected in society. The religious values of the play are to reflect Williams’ own feelings on the matter, creating great dramatic impact at the same time. Reverent Tucher, the family’s local reverent doesn’t even take religion seriously. He says â€Å"Did you all know that Halsey Bank’s widow put air-conditioning in the church†¦ † The reverend’s main worries are of money and his personal comfort in the church which contradicts everything Christianity stands for. Williams illustrates the characters of Brick and Big Daddy as being intelligent men, with lots of general knowledge and common sense. Therefore when he makes it apparent that neither of them believes in religion, he’s making a very controversial statement, especially among the outwardly religious society of 1950s Southern America. To conclude, the overall setting of the play has proven to affect the plot of the play, hidden symbolism, qualities of the characters and the key themes behind the play. Without specific references to the setting, the amount of dramatic impact would be absolutely minimal, probably resulting in the audience not fully understanding the points that Williams most wanted to stress and losing interest in the play altogether. So yes, the setting of the play is imperative to the play’s dramatic impact.

burrial at the ornanas essays

burrial at the ornanas essays I first look at Burial at Ornans and take a dislike to it. I see a painting of a small group of people with grim expressions on their faces. The piece is oil on canvas. Its simply painted, perhaps a palette knife has been used, and the colours are harsh and real, with definite edges and colour changes. Space has been used well, with the majority of the detail across the middle length of the piece, leaving the top and bottom lengths rather plain and empty to signify the ground and skies. The piece is balanced well the people are all standing on mutual ground and are roughly similar height. The artist has proportioned the people adequately to complement the size of the canvas with plenty of room around the to add background detail. The piece is of a group of people wearing black and a priest (they are presumably at a funeral). The expressions on their faces are dismal as they stand and mourn for someone on that gloomy day. The artist doesnt appear to be conveying a message; he has just painted what he has seen. The piece expressed sadness and mourning. The misery of the people and the overcast day work hand in hand together, creating a twice as poignant scene as if either one had not existed. The artist has used the characteristics of the above two stages well. He as painted what he saw and, as I can only assume this is exactly what he saw, he painted it superbly. He has captured the feeling of the people at the funeral and exerts these feelings to their full potential. Courbet only painted one way; he was a realist. He painted what he saw and tried to capture the feeling of the now, and not the later or the earlier. He had a particular interest in painting exactly what he saw, so this piece is certainly effective. The piece was meant to show the scene at hand. Courbet has done this well. I can see the scene and I can feel the scene. ...

These 5 Microsoft Word tweaks that will make your resume shine

These 5 Microsoft Word tweaks that will make your resume shine A good resume is your foot in the door at the best companies. Even if you have a solid background filled with relevant jobs that make you an ideal candidate, you still need your resume’s formatting to sing. Your number one goal is to make it easier and faster for recruiters to read (and fall in love with) your resume. Remember, you likely have only a quick glance of a few seconds to make a first impression- anything sloppy, out of place, or distracting might send you right into the reject pile before a recruiter has even read one word. Read on for the basic checklist you should use to make sure everything is clean and professional in MS Word before you attach and send away.1. Show/Hide formatting and fix sloppiness.Utilize the Show/Hide feature to see if everything is laid out neatly by clicking the button that looks like a backwards â€Å"P† on your Home toolbar or clicking Ctrl+8 or command+8. Now, you can see all the paragraphs you’ve made and your use of spac ebar vs. tabs. Using the now-visible marks, standardize all spaces and delete any that don’t belong. This is your chance to clean up all the messy bits of DIY formatting you did that might not translate well across computers.At this point, align all of your content uniformly. Use the tab stop menu in the top left corner of your document, just to the left of the ruler. Click until you see the tab stop you want, then click the ruler where you want that stop to be. Use bullets for consistent (and easier to adjust) spacing when you’re listing experiences or skills, and use the Line and Paragraph Spacing tool to manage the size of spaces in-between sections, sentences, bullets, and paragraphs.2. Insert a header and footer.Use the header and footer feature to make use of all the precious space you have. You don’t have a lot of space to work with on one page, so you want to use the body of your resume to list skills, work history, and education. Don’t waste this space with contact information- put that at the top and bottom. Just use the â€Å"Insert† tab drop menu to find the kind of header/footer formatting you want, then go nuts.3. Go bold and use bullets.Bold job titles to make them pop. Then, use bolded headers to delineate your sections, and under them, use bullets to list your skills and relevant bits of detail. Formatting your resume like this makes it easy to follow, clean, and organized. Keep your bullet style neat and simple- in most cases, a resume is not the time for creativity.4. Prioritize.Put your best and most relevant experience and skills at the top, moving all the rest (especially if it’s basically filler) to lower sections. The recruiter’s eye reads the top few lines first (and sometimes stops there!). Make sure your best stuff is most easy to find.5. Convert to PDF.To ensure security and to make sure your beautiful formatting work doesn’t get jumbled up on someone’s not-updated machi ne, make sure to click â€Å"Save as† and then convert your final resume into a PDF. A quick double check will show that this new uneditable document is ready to be uniformly read by any recruiters- just as you wanted them to see it.

Globalization impact on supply chain Essay Example | Topics and Well Written Essays - 3000 words

Globalization impact on supply chain - Essay Example The supply chain has also seen the impact of globalization on its management, and the globalization practice can be seen in various companies that have global operations and market places (Monczka et al 2010). The essay analyses the globalization practice with discussion on its key elements related to the supply chain management. Furthermore, there is discussion of major benefits as well as risks associated with the globalization practice in the supply chain management so that the issues associated with the practice in the companies can be analyzed. This is analyzed with the help of the case study of a manufacturing organization with barriers on implementation of the globalization practice. Analysis of the globalization practice The forces and practice of globalization are changing the supply chain. The supply chains are becoming disintegrated. Product designers, marketers and manufacturers are widespread over various continents with organizations that have different languages, cultu res as well as different business objectives. The key elements of the globalization practice in supply chain management are integrated supply chain, maintenance of flexibility, balancing of risks and rewards, and clear understanding of the global marketplace and management of costs and complexities (Kersten 2011). It is necessary to understand the global landscape and companies should also have a proper plan in place for the recognition of how to capture the opportunities present in the new market. Maintenance of flexibility is another key element in the globalization practice and the supply chains that are global in nature have to remain flexible enough so that they can quickly shift to the new identified opportunities and grab them quickly (Creating the Optimal Supply Chain 2012). The principles of the supply chain are basic, but the execution of globalization practice in the supply chain is different and complex as under this practice, the company has to navigate through the comp lexities of the global supply chain in the areas such as sourcing, manufacturing and the process of delivering across different parts of the world (Mangan et al 2008). Managing component costs and logistics costs is another key element of the globalization practice in supply chain management. Component costs include costs related to raw material, energy, facility, labour, overhead, and productivity. Logistics costs include transportation, warehousing, administration, packaging and inventory (The Faculty of Thunderbird and The American Graduate School of International Management 2000). The impact of globalization on supply chain is vast. It has made supply chains to become more efficient and has helped the companies to create competitive advantage with creation of strong infrastructure. The impact of globalization practice is such that competitors from different areas around the world are competing against the established market leaders that have a depth of resources, deep customer l oyalty and known brands. This has happened because of the flexibility in the supply chai

Project Management Challenges Research Proposal

Project Management Challenges - Research Proposal Example For Project Managers to work effectively, collaboration with Functional manager is mandatory. Let’s understand who functional managers are and how they differ from project managers. Functional managers are those who are managing the core operations of the business and are appointed permanently, usually for a longer period of time. On the other hand, Project Managers are appointed for a particular task such as building a new branch, constructing a port etc. Project Managers are usually appointed for a particular period of time whose job is completed after the completion of the project. Any organization may choose from various combinations of power strategy that are assigned to the Functional Manager and the Project Manager. These types are Weak Matrix, Balanced Matrix, Strong Matrix and Projectized (JOSH, 2009). Project Managers might be dependent on Functional managers for various things. For example, Project managers usually borrow staff from functional managers when they are short of team members. Sometimes, the project manager is a functional manager too where he/she performs the additional job of a project manager. For example, a restaurant business wants to expand its business in another city. The CEO might appoint the Operation Manager of the main branch, the additional task of Project Manager for building the design, processes, menu, hiring employees etc of the new branch in this new city. Appointing your own Functional Manager as the Project Manager is helpful in various ways. The Project Manager, in such cases, knows the culture, system, processes, vision, and mission of the company. It will also save cost as hiring a new project manager will cost a hefty amount and your own functional manager might not need that much amount. It is necessary for functional management to effectively coordinate, communicate and work collaboratively with the project management team. Project Managers might need a lot of information from the functional managers for v arious things. The authorities given to project managers are usually restricted, especially the cost and expenditure control, legislative decision making etc for the reason that Project Managers might not have sufficient experience of handling specific tasks. Thus, usually, financial controls are not given to the PM. However, many Project Management specialists say that they should have control over costs and expenditure within a specified and agreed limit. This should be one reason why Functional Manager must collaborate closely with the project manager and understand their compelling issues. The ultimate aim of a Project Manager is to make happy the project sponsors and all stakeholders included through efficient completion of the project without consuming an excessive amount of money and time.  

Issues of the Service Plan Development Essay Example | Topics and Well Written Essays - 1500 words

Issues of the Service Plan Development - Essay Example Therefore, Salama did not have much interest at first in development of the service plan. However, after much convincing she agreed to participate with me in the process of developing the service plan. The fact that she agreed to contribute to the making of the service plan together with her articulation and wise contribution makes me think that the process of making the service plan was effective. This is because the ideas and wishes of my client were encompassed in the service plan including identifying issues, setting goals, developing action plan, setting timelines, and estimating the outcomes. However, since Salama was a new migrant with no legal documents to work in Canada, we realized that we needed to look for the documents from the relevant authority before she could start working as we had planned. Thus, in future I would ensure that my client has the necessary documents to enable work according to the plans and therefore, avoid misses in meeting the timelines set. Further, because of the nature of my client having children and having no one to babysit them, we had to look for a babysitter first before she started looking for work. This was also an oversight in our planning because it delayed meeting certain goals and timelines and where we managed to meet timelines and outcomes were not as expected in our plan. Since I was the expert in the area of service planning, I made most of the suggestions that were included in the service plan. Salama on her part could only expound and seek clarification on what each goal implied in respect of her welfare. Nevertheless, her contribution was highly valued especially in the area of work and how she wanted to meet the goals that were set in the timelines. On my part, I believe that the goals that were set in the service plan are within reach of my client since they are all directed towards facilitating her

Islamic Equity Investment Risk and Return Behaviour

Islamic Equity Investment Risk and Return Behaviour Islamic equity investments deal with the application of Shariah in stock selection in fund management. Islamic equity investment is a new and emerging concept in fund management and posed a slow growth compared with a fast paced growth in Islamic fixed income Sukuk markets and Islamic banking in the current decade. However Islamic equity investments contain a significant potential to generate above average risk adjusted returns than conventional equity investment as discussed in this paper. The thesis argues about the risk returns behavior of Islamic equity investments by analyzing the risk return behavior of Karachi Meezan Index, an Islamic index traded at Karachi stock exchange, over the period of two and a half years. Karachi Stock Exchange 100 index and Karachi Stock Exchange 30 index was used as benchmarks to find out if there are any significant differences in the returns volatility of KMI30 and KSE 100. The complete period was also divided into bull and flat periods and eac h period is analyzed to further augment the research. Our findings provide strong evidence to reject the notion that Shariah Compliant investment perform poorly than conventional equity investments. In fact our finding supported the assumption that Shariah Compliant Equity Investments can deliver better returns than conventional investments given the same level of risk. Chapter 1 Introduction In the past few years there has been remarkable growth in the field of Islamic finance. New products are being developed on a consistent basis in capital markets which comply with the Shariah. The main distinguishing feature of Shariah Compliant Stocks is their low risk characteristics which has induced many risk averse investors into investment in Shariah complaint stocks and equity funds. According to Ernst Young’s 2010 Islamic funds investment report, currently there are approximately $52 billion fund assets under management in the Islamic fund industry which is still a small proportion of the total assets under global fund management which are worth $22 Trillion in 2010. Total Shariah compliant assets now exceed $1 trillion worldwide because of the fast faced growth in Islamic finance during the current decade. Currently Islamic funds only constitute about 5.5% of total Islamic finance investments which signifies the potential of growth in this industry in coming years. From July 2007 to Nov 2009, MSCI World Islamic Index outperformed the MSCI World Index Standard Core in terms of variability of returns which shows that Shariah complaint stocks generate more returns in high volatility period compare to conventional stocks. In an Islamic equity fund, the amounts are invested in the shares of Shariah complaint stock companies. The profits are mainly achieved through the capital gains by purchasing the shares and selling them when their prices are increased. Profits are also achieved by the dividends distributed by the relevant companies. It is obvious that if the main business of a company is not lawful in terms of Shariah, it is not allowed for an Islamic Fund to purchase, hold or sell its shares, because it will entail the direct involvement of the shareholder in that prohibited business. In September 2008, Karachi Stock Exchange with the collaboration of Meezan Bank launched a new index called Karachi Meezan Index comprising of 30 companies. The distinguishing characteristic of this index is its Islamic nature in which selected companies will be fully Shariah-complaint. Companies will be selected in the index based on their liquidity in the stock market along with compliance with Shariah principles. These Shariah principles are formulated by the Shariah advisory council of Meezan bank which comprises distinguishing Islamic scholars. The objective of KSE-Meezan Index (KMI) is to serve as a gauge for measuring the performance of Shariah compliant equity investments. It may also act as a research tool for decisions in strategic asset allocation according to Shariah besides tracking performance of Shariah compliant equities; its construction will increase investor trust and enhance their participation. Stock Screening Requirements for KMI-30 Index Shariah compliance of stocks shall be done under the guidance of qualified and reputed Shariah experts. For stocks to be Shariah compliant, it must meet ALL the six key tests given below. Business of the Investee Company: Core business of the company must be HALAL and in-line with the dictates of Shariah. Hence, investment in securities of any company dealing in conventional banking, conventional insurance, alcoholic drinks, tobacco, pork production, arms manufacturing, pornography or related un-Islamic activities is not permissible. Debt to Total Assets: Debt to Asset ratio should be less than 40%. Debt, in this case, is classified as any interest bearing debts. Zero coupon bonds and preference shares are, both, by definition, part of debt. Non-compliant Investments to Total Assets: The ratio of non-compliant investments to total assets should be less than 33%. Investment in any non-compliant security shall be included for the calculation of this ratio. Non-complaint Income to total revenue – Purification of Non-compliant: income the ratio of non-compliant income to total revenue should be less than 5%. Total revenue includes Gross revenue plus any other income earned by the company. This amount is to be cleansed out as charity on a pro rata ratio of dividends issued by the company. Illiquid Assets to Total Assets: The ratio of illiquid assets to total assets should be at least 20%. Illiquid asset, here, is defined as any asset that that Shariah permits to be traded at value other than the par. Net Liquid Assets to Share Price: The market price per share should be greater than the net liquid assets per share calculated as: (Total Assets – Illiquid Assets – Total Liabilities) divided by number of shares. *Courtesy of Karachi Meezan Index Brochure retrieved from Karachi Stock Exchange Website Rationale of the Study Islamic equity investment funds pose immense growth potential in the future mainly on account of the following reasons: It attracts risk averse investors who previously ignore equity investments because of Islamic Equity’s low risk characteristics It attracts new Muslim investors who previously were wary of investing in stock markets because of non-Shariah compliance Therefore a study needs to be conducted which examines the risk return behavior of Shariah complaint stocks so that investors and general people will have a better idea about the risks profits which are inherent in Shariah complaint shares. Research Questions The study will help in answering the questions such as: Is there a difference in returns of KMI30 and KSE 100 indices? Is there a difference in the volatility of KMI30 and KSE 100 indices? Is KMI30 index giving more or less risk adjusted returns compared to KSE 100 index? How much variation is explained by KSE 100 index in returns of KMI30 index? Limitations of the Study KMI30 index represents the risk return behavior of only 30 blue chip Shariah compliant stocks. In order to have a better comparison with the KSE 100 index, a portfolio consisting of all the stocks from KSE 100 which comply with Islamic screening principles should be constituted and the return volatility attributes of this portfolio should be compared with KSE 100 index because a difference in returns between both indices can be because of superior judgment in the selection of stocks in KMI30. Chapter 2 Literature Khan (1998) studied the modern practices in commodity, currency and corporate stock trading in the light of Islamic economic framework and stated that under Islamic principles, Mudarabah or Shirakah certificates can be traded in stock exchanges. However there is no concept of preferred equity in Islamic finance as it Riba which is forbidden under Islam. Khan stated that liability towards losses of the organization need to be met which may have accumulated over a period in order to sell or disinvest shares of that organization which implied that each shareholder has a liability for cumulative past losses as well as current losses in proportion to the capital invested. Khan (1998) proposed a model of stock valuation which incorporates the Islamic principles that intrinsic value of shares should provide the prospective investor a fair amount of information about past performance of organization. Iv = intrinsic value of shares Pv = par value of shares Ri = Profits, Reserves etc L = losses S = No. of Share Lewis (2010) examined the current and historic structure and performance of Islamic investment funds and found out that Islamic investments have grown quickly over the past few years and now there are approximately 650 Islamic funds operating globally. Lewis also discovered that in the past Islamic funds have focused more on negative forbidden screening principles instead of focusing on both the negative and positive screening methodologies like socially responsible funds that focus primarily more on investments in companies which play a part in human welfare. However these Socially Responsible Investments (SRI) funds performed slightly poor compared to Islamic funds because Islamic funds invested a significant portion in energy companies who enjoyed profitability because of rising oil prices, SRI funds do not invest large portions in fossil fuel energy companies primarily because of their futile side effects on environment. Nik Maheran and Masliza (2008) analyzed the performance of Islamic mutual funds at Kuala Lumpur Stock Exchange to investigate if these funds underperform or over perform the market index using average return on mutual funds, standard deviation of weekly returns, coefficient of variation, Treynor and Sharpe index. They found out that most of the funds achieved a lower return than market from the period 2002 until 2006. However in terms of risk level Islamic mutual funds showed less risky behavior compared to the market since the betas of Islamic mutual funds was less than one. Rennebook, Horst and Zhang (2007) critically reviewed the available literature on socially responsible investments and concluded that a primary reason for low returns from socially responsible funds could be the multi-task nature of portfolio managers who pursue both financial and social objectives. They also found out that if investors avoid investments in unethical/asocial businesses, than they may require a low rate of return than other investors who do not show any similar type of preferences. Hussein (2007) analyzed the returns of FTSE Global Islamic index and Dow Jones Islamic Index from 1993 till 2004 and compared them with the returns of Dow jones world index and FTSE All world index. He found out that application of Shariah screening doesn’t adversely impact on Islamic indices performance as Islamic indices performed as well as their counterparts over the entire period. Hussein (2007) stated that Islamic indices yield statistically positive returns in bull market period though Islamic indices underperform the all world indices in the bear period and in the long run have a superior performance compared with counterparts in entire market period. Abdullah, Hassan and Mohammad (2007) compared the performance of Islamic and conventional mutual funds in Malaysian capital market with the help of Sharpe index, adjusted Sharpe index, Jensen Alpha, timing and selective ability and found out that Islamic funds are less risky than conventional funds and both Islamic and conventional funds have diversification levels which are less than 50 per cent of the diversification level of the market portfolio. They discovered that Islamic funds performed better than conventional funds during bearish periods while conventional funds performed better than Islamic during bullish periods and concluded that Islamic funds can be used as hedging tools. Hussein (2005) compared the performance of Dow Jones Islamic market index and FTSE Global Islamic index and benchmarked it against their counterparts, Dow Jones World index and FTSE Global Index respectively, using parametric t-statistic and non-parametric signed rank test. Monthly returns data had been used ranged from 1996 2004 and the periods had been divided into bull and bear return phases to make more meaningful conclusions from results. Hussein (2005) found out that Dow Jones Islamic Index outperformed its counterpart in the entire period (1996 – 2004) and bull period. The mean monthly return of Dow Jones World Index was higher than the DJ Islamic index over the entire bull period which indicated that the Islamic index has greater volatility in comparison with DJ world index. Contrary to this, Dow Jones Islamic index fails to maintain its better performance over the bear market phase where the DJ world index gives better returns. In case of FTSE indices, FTSE Global Is lamic index outperforms FTSE All world index in the entire and bull periods. However FTSE Islamic index underperforms FTSE world index over bear period. Hussein (2005) also found out that the beta of both Islamic indices is greater than one and higher than their counterparts which imply that both Islamic indices are riskier than their counterparts. Hence Hussein (2005) stated that the application of Shariah screening principles has no adverse effect on Islamic indices performance over the years and concluded that Shariah investing offer superior performance compared to unscreened portfolios. Albaity and Ahmad (2008) examined the performance of KLSI, A Shariah Compliant Index at Bursa Malaysia, and benchmarked it against KLCI which is a conventional stock market index at Bursa Malaysia using measures of risk adjusted returns and found out that KLCI is outperforming KLSI. Albaity and Ahmed (2008) also found out that KLCI has a higher beta as evident from conventional Non-Islamic indices and that in the short run both indices move in the same direction and tend to cause each other. Hence they concluded that there is no significant difference in the returns and movements of both indices. Hakim and Rashidian (2002) applied Islamic equity screening principles on Wilshire 5000 index and created a Shariah Compliant Portfolio and compared the return characteristics of the created Wilshire Islamic portfolio and Dow Jones Islamic market index portfolio with the parent Wilshire 5000 index and found out that the reduced diversification characteristic of newly created portfolio has not adversely affected its performance when compared with parent Wilshire 5000. Hakim and Rashidian (2002) examined the causality between the Islamic index, the Wilshire 5000 and the Tbill rate and found out that the Islamic index is influenced by factors independent from the broad market or interest rates which are contrary to the widely accepted notion that Dow Jones Islamic Index exhibits high correlation with broad market. They concluded that such correlation is temporary and false Sauer (1997) measured and analyzed the average monthly returns and variability, Jensen Alpha and Sharpe performance of the Domini 400 Social index portfolio and benchmarked it against the performance of two unrestricted portfolios (SP 500 and CRSP value weighted market indexes). Sauer (1997) discovered that the application of socially responsible strategy in stock selection does not impact the investment performance adversely. He concluded that the potential performance costs of implementing socially responsible criteria, as represented by the performance of Domini social index are negligible. Sauer (1997) also stated that the performance of Domini Social equity Mutual fund compares favorably to the performance of Vanguard SP 500 index. Bauer, Koedijik and Otten (2004) analyzed the performance of 103 German, UK and US ethical mutual funds and found no indication of substantial difference in return behavior between ethical and conventional mutual fund returns after controlling for factors like book to market and size. Bauer, Koedijik and Otten (2004) also concluded that ethical mutual funds are typically less exposed to market variability compared to conventional funds. Hamilton, Jo and Statman (1993) studied 32 socially responsible mutual funds and compared their returns with a portfolio of 177 conventional mutual funds. They found out that market do not price social responsibility characteristics so investors can expect to lose nothing by investing in socially responsible mutual funds; social responsibility factors have no effect on expected stock returns or companies’ cost of capital. Derigs and Marzban (2009) analyzed SP, DJIM, FTSE, MSCI and HSBC Shariah Complaint indices and stated that current Shariah compliant strategies result in much lower portfolio performance than portfolios without considering Shariah Compliance. They suggested that the return from Shariah complaint strategies can be increased by making Shariah compliance an attribute of portfolio constructed rather than measuring compliance on as asset level. Derigs and Marzban (2009) argued, Funds are investment vehicles, which are financially independent of the institutions that establish them. Therefore, a fund takes the form of an independent company, such as a limited liability company (Norman, 2004), in which investors act as shareholders. So they proposed that with respect to compliance a fund which itself invests in multiple companies has to be evaluated in the same way as a conventional independent company. Hassan and Antoniou (2006) examined the potential impact of Islamic screening restrictions on investment performance by comparing the performance characteristics of a diversified of Islamic screened stock indices with conventional benchmarks (Data stream Global Index) and the degree of correlation and volatility in price movements between both indices. Hassan and Antoniou (2006) concluded that the impact of stock screens is closely related to the performance of stock markets and further stated that any argument that Islamic equity investments are less profitable than conventional types of investments is questionable which is supported by relatively major differences between Sharpe and Treynor measures and significant positive Alpha over the positive returns period when the Dow Jones Islamic Market Index outperformed the Data stream Global Index. Chapter 3 Methodology This section emphasizes the research methodology and the type of data that has been used in this research. The research is quantitative in nature as statistical and financial models are being used to test the STOCK INDEX time series for volatility and return. The data which is going to be used in the research is secondary in nature and in the form of time series. Daily index values of Karachi Meezan Index (KMI-30), KSE-30 index and KSE-100 index from Karachi stock exchange are being used as secondary data from December 15, 2008 till March 11, 2011. Daily logarithmic returns of all indices are being calculated such that: Where is the raw return for index i for the time t, refers to the price of index i at time t, and is the price of index i at time t-1. A descriptive statistical analysis was performed on the calculated daily logarithmic returns using to calculate mean, standard deviation, standard error, median, variance, kurtosis, skewness, maximum and minimum values of all three indices for the whole period from December 15, 2008 to march 11, 2011. Also Geometric mean for all three indices was also calculated as it contains the effect of compounding. Coefficient of variation is calculated to measure the variation in each index given its return. A correlation matrix was being calculated using excel spreadsheet to find the degree of correlation between KMI-30, KSE-30 and KSE-100 indices. A linear regression analysis has been performed using the returns of KMI-30 index as dependent variable and returns from KSE-100 as the independent variable to estimate the coefficient of determination (R-Square) and beta of KMI-30. Another linear regression was performed using KSE-30 as the dependent variable and KSE-100 as the market independent v ariable to estimate the beta of KSE-30 and coefficient of determination. The regression equations were as follows: Where is the intercept, is the beta of the stock index, and are the returns on KMI30 and KSE30 indices respectively and is the return on KSE100 regarded as the return on the stock market. Risk ratios which are used in the analysis to compare the risk reward profile of KMI30 with KSE 30 and KSE 100 are Alpha, Beta, Standard Deviation, R-Squared, Sharpe Ratio and Treynor ratio. A paired t-test was performed to check the hypothesis of difference in means of KMI30 and KSE 100 index because nearly all of the stocks of KMI30 are part of KSE 100 hence dependent. Also F-test was performed to check the difference in variances of KMI30 and KSE 100 indices assuming that the returns from both indices are normally distributed. The whole period from December 15, 2008 to March 11, 2011 is than divided into two bull periods and one relatively flat period to find out the risk-return profile of KMI30 and KSE 100 in these periods. The first bull period is from January 15, 2009 till October 15, 2009 while the flat period is from October 15, 2009 till October 15, 2010. The second bull period is considered from October 15, 2010 to January 15, 2011. A descriptive analysis was again performed on these bull and flat periods along with similar paired t-tests, F-tests, linear regression and correlation matrices. Sharpe ratio, Treynor ratio, Jensen Alpha, Beta and S. Deviation were also calculated for these bull and flat periods. Chapter 4 Results Analysis Descriptive Statistical Analysis Descriptive analysis shows that KMI30 index showed very good daily mean returns of 0.1014% since Dec 15, 2008 till March 11, 2011. KMI30 index started in September 2008 and considering the mean returns, it is a very good performance by a stock exchange index especially when comparing with geometric mean of KSE 30 returns of 0.0227% and KSE 100 daily returns of 0.0451% in the same period. The standard deviation of KMI30 index daily returns was 1.5051% which is considerably less than its counterpart KSE 30 index however more than the S. Deviation of KSE 100 index as expected because of large diversification effects of stock returns in KSE 100. The coefficient of variation for KMI30 index is 15.97 compared to 33.36 for KSE 100 and 74.593 for KSE 30 which clearly indicates that KMI30 is less risky when compared to both other indices per unit of return. The excess kurtosis for KMI30 for the complete period is 2.58 compared to 2.13 for KSE 100 and 2.29 for KSE 30 which shows that all three indices are more peaked than normal distribution and are leptokurtic. All three indices are negatively skewed which shows that most of the returns are negative. As indicated by higher standard deviations of KSE 30 index, its maximum and minimum return are greater than KMI30 maximum and minimum returns. The maximum one day return for KMI30 during the whole period was 5.3% while the minimum return was -5.19%. From January 15, 2009 to October 15, 2009, KSE showed a bullish trend. The geometric mean of KMI30 index daily returns during this first bullish period was around 0.31% much higher than 0.24% of KSE 100 and 0.28% of KSE 30. However the standard deviation of KMI30 index is 1.93% less than 1.88% of KSE 100 and 2.35% for KSE 30. This shows that not only KMI30 beat KSE 100 and KSE 30 in returns but also remained less volatile over the bullish period when compared to KSE 100 and KSE 30. The kurtosis of all three indices is slightly over 3 (Excel displays Excess Kurtosis) which shows that all three indices are mesokurtic and have a kurtosis equal to that of normal distribution. KMI30 showed a slight negative skewness of -0.0195, while KSE 100 showed positive skewness of 0.04058 in this bullish period. From October 15, 2009 to October 15, 2010, KSE showed a relatively flat period of returns with KMI30 index showing a mean geometric return of 0.0498% while KSE 100 and KSE 30 showed a geometric return of 0.017% and –0.0249% respectively. The KMI30 again outperformed KSE 100 and KSE 30 in returns over this flat period. KSE 30 had negative mean returns in this period. KMI30 also showed low standard deviation of 1.088% compared to 1.1049% of KSE 100 and 1.3866% of KSE 30. Hence KMI30 again outperformed KSE 30 and KSE 100 index in this relatively flat period in terms of returns and low volatility. KMI30 had an excess kurtosis of 2.18 more than 1.79 for KSE 100 but less than 2.26 of KSE 30. Hence all three indices have leptokurtic distribution with high peaks than normal distribution. KMI30, KSE 100 and KSE 30 all showed negative skewness in this flat period. From October 15, 2010 till January 15, 2011, KSE showed a relatively bullish trend with KMI30 showing a daily return geometric mean of 0.36% against 0.3% by KSE 100 and 0.33% by KSE 30 index. However KMI30 index showed a higher daily standard deviation of 0.86% compared to 0.73% of KSE 100. KMI30 also showed a more leptokurtic distribution compared to KSE 100 as the excess kurtosis of KMI30 was around 0.497 compared to 0.262 for KSE 100. During this bullish period all three indices showed a positive skewness with impressive returns in a short span of time. Over the whole period, from December 15, 2008 to march 11, 2011, KMI30 showed impressive annualized returns of 28.825% compared with KSE 100 and KSE 30 which showed annualized returns of 11.9367% and 5.85% respectively. The annualized standard deviation for KMI30 index was a little higher than KSE 100 but lower than that of KSE 30. Also the total return over this two and a half year period by KMI30 was quite impressive and 2.5 times more of KSE 100. KMI30 had a total return of 75.11% from Dec 15, 2008 to March 11, 2011. Sharpe ratio is only positive for the KMI30 because the other two indices had returns less than 12 month Treasury bill rate. Jensen’s alpha for KMI30 was 16.8687 which indicated the average return on KMI30 over and above the CAPM predicted return of 11.9566%. KMI30 also had a beta lower than one which shows that KMI30 is less volatile than the overall market. KSE 30 had a beta of greater than one showing that it’s more volatile than the market KSE 100 in dex. Correlation matrix shows a strong correlation of 92.933% of KMI30 and KSE 100 over the whole period from December 15, 2008 to March 11, 2011. KSE 30 showed a less strong correlation of 87.48% in the same period with KSE 100. In the first bullish period, KMI30 however had a rather less strong correlation with KSE 100 compared to the whole period correlation described above. In the flat period from Oct 15, 2009 till Oct 15, 2010, KMI30 had a very strong correlation with KSE 100 index. In second bullish period, from Oct 15, 2010 to Jan 15, 2011, KMI30 again had a relatively less strong correlation with KSE 100 as already happened in first bullish period. It looks like KMI30 is showing less strong correlation with KSE 100 in bull markets and very strong correlation with KSE 100 in relatively flat periods which shows that KMI30 shows returns which are less correlated with market in bull periods and give more correlated returns in flat market periods. In both bull periods, Jan 15, 2009 – Oct 15, 2009 and Oct 15, 2010 – January 15, 2011, KMI30 outperformed KSE 100 and KSE 30 index with impressive margins. KMI30 gave a total return of 81.68% in the first bull period, 13.24% in the flat period and 23.67% in the second bull period. KSE 100 gave total returns of 57.3%, 4.34% and 19.92% in the same periods. KMI30 also showed a relatively same standard deviation as the KSE 100 except for the second bull period when there was a large difference in S. Deviation of KMI30 and KSE 100 returns. What this means is that KMI30 is giving higher returns than KSE 100 while having the same risk as KSE 100 also evident by Sharpe ratio. In first bull period, KMI30 had a beta of 0.927 compare to 1.077 of KSE 30. In the flat period, KMI30 had a beta of 0.948 while KSE 30 had a beta of 1.06. In the second bull period, KMI30 and KSE 30 showed an irregular trend when the beta for KMI30 increased over 1 while beta for KSE 30 dropped less than o ne. Regression Analysis A regression analysis was performed on the daily returns of KMI30, KSE 30 and KSE 100 for the complete period to explain the variation in the returns of KMI30 and KSE 30 index by using KSE 100 as the independent market index. The regression equations are as follows: Equation 1 Equation 2 The R-Square for the first model of KMI30 returns come out to be 86.366% which tells us that 86% of the variation in KMI30 index is caused by KSE 100 index. The R-square for the second KSE 30 model was 77% which shows that KSE 100 causes more variation in returns of KMI30 than KSE 30 index. The intercept of first equation is 0.000523179 which shows that when the daily market return is zero, than KMI30 has a daily return of 0.0523179%. The slope of the first equation, beta of KMI30 index, tells us that a one percentage change return in KSE 100 index causes a 0.9752 percentage change return in KMI30 index which shows low volatility in KMI30 compared to KSE 100. The slope and intercept for the KSE 30 model are 1.1018 and -0.0216% respectively which indicates that KSE 30 is more volatile than KSE 100 (has a beta higher than 1) and that a zero return from market will causes a -0.0216% daily return fall in KSE 30 index. Hypothesis testing The first hypothesis was to test that whether there are any significant differences in daily returns of KMI30 and KSE 100 indices for the whole period from December 15, 2008 to March 11, 2011. Since all the stocks which are part of KMI30 index are also a part of KSE 100 index which indicates that both samples are dependent hence paired t-test was employed to test the differences between returns of both indices. The null and alternative hypotheses are given as: Ho: The difference in mean daily returns of KMI30 and KSE 100 index for the period from December 15, 2008 to March 11, 2011 is equal to zero H1: The difference in mean daily returns of KMI30 and KSE 100 index for the period from December 15, 2008 to March 11, 2011 is not equal to zero The paired t –test was performed on a 5% level of significance with 552 degrees of freedom. The calculated t statistic was 2.310548072 which was greater than the critical value of 1.96. Hence the null hypothesis was rejected and the conclusion was that the difference in mean daily returns of KMI30 and KSE 100 returns is different from zero. The second hypothesis tested whether there are any significant statistical differences in returns of KMI30 and KSE 100 indices during the first bullish period from January 15, 2009 to October 15, 2009. The same paired t test was employed to test the difference in returns in this bullish period using a significance level of 5%. The null and alternative hypotheses are given as: Ho: the difference in mean daily returns of KMI30 and KSE 100 index for the bullish period from January 15, 2009 to October 15, 2009 is equal to zero H1: the difference in mean daily returns of KMI30 and KSE 100 index for the bullish period from January 15, 2009 to October 15, 2009 is not equal to zero The calculated t-statistic was 1.2773207 less than the critical value of 1.972 at 5% level of significance with 187 degrees of freedom. Hence the null hypothesis was failed to reject and it was concluded that there is no difference in the returns of KMI30 and KSE 100 indices during the first bullish period from January 15, 2009 to October 15, 2009.