Saturday, August 31, 2019

Chapter 1 Essay

The problem and its background 1.1 Introduction A peer group is both a social group and a primary group of people. It may be defined as a group of people who share similarities such as age, background, and social status. The members of this group are likely to influence the person’s beliefs and behavior. Also, a peer group can have a serious effect in an academic status of a person. School is where many children meet peers, form friendships, and take part in groups. For friendless, rejected, or victimized children, the school must be a less-than desirable context and certainly a place that is unlikely to promote learning or well-being (Tarrant, 2002). Individuals tend to study in groups because of the fact that studying with peers is easier and fun. The study group environment offers students the opportunity to engage in a more in-depth discussion with peers, sharing information and knowledge about a course they are collectively enrolled in. Peer group studying can help with the issue of procrastination. Many students tend to cram for tests/exams on the night before or begin projects with very limited time before the due date. When involved in a study group, meeting at scheduled times can keep the active participants from procrastinating. In addition, individuals in study groups are less likely to delay or put-off assignments because they understand that other people are relying on them. Also, it can help in understanding information more efficiently; students tend to learn faster working within a group than working alone. If a student was working on his/her own, there would be a lot of time wasted puzzling over the difficulty. However, when students work in groups, they have the opportunity to explain concepts, review material, exchange ideas, and disagree/reason with one another about why one person’s answer differs from another. Thus, one can seek clarification and learn faster working in a group setting while gaining personal skills. In other countries, governments and officials are supporting peer group studying; they see it as a more effective way in learning. A number of programs focused on the early identification of at-risk students exist at the institutions in this peer group. All of these programs are designed to ease the transition from secondary school to higher education, particularly for students who are likely to be at risk once in  the university, and/or to identify these students once they have begun their first semester classes. They are overall aggressive in helping those students who need help (Sherif, 1964). In the Philippines, no agencies or government are supporting this kind of study, but individuals especially students are influenced by peer group studying. Filipino students are more comfortable in studying with their peers rather than studying alone (Benilde Students, 2008). In the Lyceum of the Philippines University – Manila, peer group studying is applied by some students, they also tend to see that group studying is more effective way to learn the lesson or courses they are studying (Lyceum Students, 2010). Nevertheless, peer group studying still have disadvantages to an individual. Peer pressure is the pressing of a member of the collective group to behave in a manner that s/he finds unacceptable. Often, when parents are telling their children they may not participate in a behavior, a child responds with what the other kids are doing. This response demonstrates a level of pressure felt by the child to participate in an activity or behavior. Another disadvantage is the feelings associated with rejection. These emotions include resentment, dislike, a feeling of isolationism and even depression. Also, peer groups are powerful agents of risk behaviors in adolescence. Adolescents typically replace family with peers regarding social and leisure activities, and many problematic behaviors occur in the context of these groups. A study (Kertz, 2012) focused on adolescents’ engagement in risk behaviors. Participants completed a self-report measure of identity commitment, which explores values, beliefs, and aspirations, as well as a self-report that measures perceived peer group pressure and control. Both peer group pressure and control were positively related to risky behaviors. However, adolescents who were more committed to their personal identity had lower rates of risk behaviors. Overall, this study shows us that adolescent identity development may help prevent negative effects of peer pressure in high-risk adolescents (http://www.montclair.edu/media/montclairedu/residentialeducation/pdffiles/Study-Group-Tips-and-Advantages-1.pdf). Another issue about peer groups is sexual activity. A longitudinal study done in 2012 followed a group of adolescents for thirteen years. Self-reports, peer nominations, teacher ratings, counselor ratings, and parent reports were collected, and results showed a strong correlation between deviant peer groups and  sexual promiscuity. Many teens claimed that the reasons for having sex at a young age include peer pressure or pressure from their partner (http://en.wikipedia.org/wiki/Peer_group). The aforesaid issues and concern about peer group studying have prompted the researchers to conduct a study on the effects on the academic performance of peer groups among freshmen CITHM students of the Lyceum of the Philippines University – Manila. 1.2 Theoretical Framework This study will be anchored on the theory of social learning (Mead, 2004). According to this theory, children begin to perceive themselves from the perspective of the generalized other, the community as a whole. Knowing the norms and values of society, children can begin to know how their actions are perceived by the generalized other. Mead said that everyone has an â€Å"I† and a â€Å"me.† The â€Å"I† is the individual or the true self and the â€Å"me† is the way one acts in different social situations under the norms of society. Through social interaction people learn the acceptable â€Å"me†. Mead felt that children develop their â€Å"selves† through interaction. Children begin to pattern their â€Å"selves† after a role model (www.webspace.ship.edu/cgboer/erikson.html). This theoretical framework can be applied to the study that mentoring has positive effects on children. The mentor acts as the generalized other and serves as a role model to the student who begins to imitate the mentor. This then reflects the positive effect of mentoring. The student changes his/her â€Å"me† to conform to the norms of society. Moreover, this study will be anchored on the theory of the Zone of Proximal development (Vygotsky, 1978). This theory focuses on the importance of a child’s culture and notes that a child is continually acting in social interactions with others. The Zone of Proximal development is defined as the gap between what a student can do alone and what the student can achieve through teacher assistance. The values and attitudes of the peer group are essential elements in learning. Those who surround themselves with academically focused peers will be more likely to internalize this type of behavior (http://en.wikipedia.org/wiki/Zone_of_proximal_development). This theoretical framework can be applied on the study that with assistance, student can achieve more lessons rather than studying alone. And by the help of peers, individuals can be more successful i n their field. 1.3 Conceptual Framework The conceptual paradigm below explains the advantages and disadvantages in studying with peer groups. Advantages in studying with peer groups. 1. Helps with procrastination. Many students tend to cram for tests/exams on the night before or begin projects with very limited time before the due date. When in a study group, meeting at scheduled times can keep the active participants from procrastinating. In addition, individuals in study groups are less likely to delay or put-off assignments because they understand that other people are relying on them. 2. Improve new study skills. There are always ways to enhance your studying methods/techniques in your study skills. Joining a study group will provide you the opportunity to observe a wide variety of study methods and incorporate them into your regimen. Note-taking and organization skills are two major study components that continue to be improved through study groups. 3. Absorb information more efficiently. Students tend to learn faster working within a group versus working alone. If a student was working on his/her own, there would be a lot of time wasted puzzling over the difficulty. However, when students work in groups, they have the opportunity to explain concepts, review material, exchange ideas, and disagree/reason with one another about why one person’s answer differs from another. Thus, one can seek clarification and learn faster working in a group setting while gaining personal skills. Disadvantages in studying with peer groups. 1. Peer pressure. is influence that a peer group, observers or individual exerts that encourages others to change their attitudes, values, or behaviors to conform to group norms. Social groups affected include membership groups, in which individuals are â€Å"formally† members (such as political parties and trade unions), or social cliques in which membership is not clearly defined. A person affected by peer pressure may or may not want to belong to these groups. 2. Aggression and prosocial behavior. Social behaviors can be promoted or discouraged by social groups, and several studies have shown that aggression and prosociality are susceptible to peer influence. A longitudinal study done in 2011 focused on these two behaviors. A sample of adolescents was followed over a one-year  period, and results showed that adolescents who joined an aggressive group were more likely to increase their aggression levels. Also, adolescents were likely to display prosocial behaviors that were similar to the consistent behaviors of the group they were in. An adolescent’s peer group plays a role in shaping him or her into an adult, and the lack of positive behavior can lead to consequences in the future. 3. Sexual promiscuity. Adolescence is also characterized by physical changes, new emotions, and sexual urges and teenagers are likely to participate in sexual activity. A longitudinal study done in 2012 followed a group of adolescents for thirteen year s. Self-reports, peer nominations, teacher ratings, counselor ratings, and parent reports were collected, and results showed a strong correlation between deviant peer groups and sexual promiscuity. Many teens claimed that the reasons for having sex at a young age include peer pressure or pressure from their partner. The effects of sexual activity at a young age are of great concern. Pregnancy and sexually transmitted diseases are only a few of the consequences that can occur. 4. Risk behaviors. Several studies have shown that peer groups are powerful agents of risk behaviors in adolescence. Adolescents typically replace family with peers regarding social and leisure activities, and many problematic behaviors occur in the context of these groups. A study done in 2012 focused on adolescents’ engagement in risk behaviors. Participants completed a self-report measure of identity commitment, which explores values, beliefs, and aspirations, as well as a self-report that measures perceived peer group pressure and control. Both peer group pressure and control were positively related to risky behaviors. However, adolescents who were more committed to a personal identity had lower rates of risk behaviors. Overall, this study shows us that adolescent identity development may help prevent negative ef fects of peer pressure in high-risk adolescents. DISADVANTAGES: STUDYING WITH PEER GROUP PEER PRESSURE ADVANTAGES: AGGRESSION AND PROSOCIAL BEHAVIOR Helps with Procrastination SEXUAL PROMISCUITY Improve New Study Skills RISK BEHAVIORS Absorb Information More Efficiently Figure 1. Conceptual paradigm of the research. 1.4 Statement of the Problem The purpose of this study is to identify the academic effects of peer group study in freshmen CITHM students of the Lyceum of the Philippines University – Manila. Specifically, the study seeks answers to the following questions: 1. How can a student obtain the advantages in peer group studying; and 2. What are the disadvantages of peer group study; and 3. What are the programs that can help a peer group in their academics. 1.5 Significance of the Study The study focused on explaining the effects of peer group study among freshmen CITHM student of the Lyceum of the Philippines University – Manila. Moreover, the results of the study will be beneficial to the following: Commission on Higher Education Department (CHED). The result of this study can help them provide a program for students on how they can improved their academic performance. Respondents. The respondents will have an awareness on the importance of the peer group program and its role on the improvement of their academic performance. Teachers/Mentors. The result of the study will help the teachers/mentors provide encouragement to think of ideas that will give proper guidance to the students. This may also increase their competency. Future Researchers. The findings of the study will serve as a reference material and a guide for future researchers who wish to conduct  the same experimental study or any study related to peer group effects. 1.6 Scope and Limitation This study covers the effects of peer group study among freshmen CITHM students of the Lyceum of the Philippines University – Manila. Nevertheless this study will not cover anyone who does not belong to the respondents. Moreover, this study covers the advantages and disadvantages of peer group study. Nevertheless, this study will not cover the reasons why a respondent faces rebellion, and this study will cover what programs of the school can help the respondents study more efficiently with their peers. Nevertheless, this study will not cover social identity. The results of this study is applicable only to the respondents of this study and should not be used as a measure of the effect of mentoring program on the students who do not belong to the population of this study. 1.7 Definition of Terms The terms in this study are conceptually and operationally defined for better understanding of the readers. * Aspiration. An individual’s need to meet realistic goals, receive feedback and experience a sense of accomplishment * Course. A unit of instruction in one subject, lasting one academic term * Cram. Is the practice of working intensively to absorb large volumes of informational material in short amounts of time. * Isolationism. A policy of national isolation by abstention from alliances. * Longitudinal. A research study that involves repeated observations of the same items over long periods of time * Norms. A principle of right action binding upon the members of a group and serving to guide, control, or regulate proper and acceptable behavior. * Peer group. Is a group of people who are equal in some way. Those in a peer group have the same status and are about the same age. They often interact with the group as a whole. * Procrastination. To put off intentionally the doing of something that should be done. * Prosociality. Beneficial to all parties and consistent with community laws and mores. * Sexual promiscuity. Is the practice of casual sex with multiple sexual partners. * Sexually transmitted diseases. are illnesses that have a significant probability of transmission between humans by means of human sexual behavior, including vaginal intercourse, oral sex, and anal sex. * Social Group. Has been defined as two or more people who interact with one another, share similar characteristics and collectively have a sense of unity. * Victimized. To make a victim of. * Zone of Proximal development. Is the difference between what a learner can do without help and what he or she can do with help.

Examining Ethnic Differences in Achievemen Essay

1. The definition of an ethnic group is a group of people of the same race or nationality that share the same cultural norms and values. 2. Three ways in which the education system may encourage separation between children of different ethnic backgrounds are: Labelling and teacher racism, many teachers label their students and studies by interactionist sociologists found out that many teachers labelled black children as disruptive and they didn’t want them in their class. Another reason is the ethnocentric curriculum. Troyna and Williams describe the curriculum in British schools as ethnocentric because it gives priority to white culture and the English language; this causes separation between white pupils and other ethnic pupils. A final reason is the selection and segregation available to schools. David Gillborn argues that marketization has given schools greater scope to select pupils. This puts some ethnic minority pupils at a disadvantage because selection gives more scope for negative stereotypes to influence decisions about school admissions. 3. There are many ways in which factors in children’s home background may lead to differences in achievement levels between ethnic groups. The first way is cultural deprivation; this is split into 3 aspects. The first is intellectual and linguistic skills. Cultural deprivation theorists argue that many children from low-income black families lack intellectual stimulation and enriching experiences. Bereiter and Engelmann consider the language spoken by low-income black American families as inadequate for educational success. The next aspect is attitudes and values. Cultural deprivation theorists say that some black children are socialised into a subculture that instils a fatalistic ‘live for toady’ attitude that does not value education and leaves them unequipped for success. The final aspect of cultural deprivation is family structure and parental support. Daniel Moynihan argues that because many black families are headed by a lone mother, their children are deprived of adequate care because she has to struggle financially in the absence of a male breadwinner. Also Ken Pryce claims that Asians are higher achievers because their cukture is more resistant to racism and gives them a greater sense of self-worth. However, he argues, black Caribbean culture is less cohesive and less resistant to racism. As a result, many balck pupils have low self-esteem and under-achieve. Another reason is Material deprivation and class. According to Flaherty; Pakistani’s and Bangladeshis are over three times more likely than whites to be in the poorest fifth of the population, as a result statistics show that Pakistani and Bangladeshi boys are among the lowest ethnic groups in the country to obtain 5 A-C GCSE’s. A final reason is racism in wider society. David Mason says â€Å" discrimination is a continuing and persistent feature of the experience of Britain’s citizens of minority ethnic origin. † 4. The differences in educational attainment between different groups of pupils have been a major focus of much sociological research. These differences can often be seen to be largely due to different social class, but also gender or ethnicity. Social class is the most significant and dominant factor when looking at these differences, but ethnicity also has a relative impact on educational achievement. Education has a key role to play in eradicating racism and valuing diversity and it a responsibility for all educational establishments, including those with few or no ethnic minority pupils. Promoting racial equality demands a whole school approach and commitment from all those who are involved in the life and work of their school. Racism is linked to the educational achievement of minority ethnic groups, however the connections are complex. Gilborn and Mirza conclude that ‘social class and gender differences are also associated with differences in attainment but neither can account for persistent underlying ethnic inequalities: comparing like with like, African Caribbean, Pakistani and Bangladeshi pupils do not enjoy equal opportunities. ’ They also argue that in promoting educational inclusion as a means of raising standards, there is a need ‘for clarity and guidance in translating the commitment to equality and inclusion into policy proposals and practice at the local and school level. Many cultural deprivation theorists see the lack of intellectual and linguistic skills as a major cause of under-achievement. Gordon Bowker identifies their lack of standard English as a major barrier to progress in education and integration into wider society. However the Swann Report found that language was not a major factor in under-achievement. Other cultural deprivation theorists suc as Charles Murray argue that a high rate of lone parenthood and a lack of positive male role models lead to the under-achievement of some minorities. Also Anthony Flew believes that ethnic differences in achievement stem from cultural differences outside the education system, not discrimination within it. However Geoffrey Driver criticises the cultural deprivation theory for ignoring the positive effects of ethnicity on achievement. He shows that the black Caribbean family, far from being dysfunctional, provides girls with positive role models of strong independent wome Driver argues this is why black girls tend to be more successful in education than black boys. Some socilogists that the ethnic differences in education are cause by racism. John Rex shows how racial discrimination leads to social exclusion and how this worsens the poverty faced by ethnic minorities. In housing, for instance, discrimination means that minorities are more likely to be forced into substandard acoomodation than white people of the same class. This creates separation due to the ethnic children not being able to study at home and therefore getting lower grades than the white children who are able to study at home.

Friday, August 30, 2019

The effect of talent management on business success in Nigeria’s telecoms sector

Summary Talent management is a key challenge for organisations in the current economic climate and, in particular, when it comes to a dynamic industry within an emerging market. With this in mind, the research proposed here looks at the role of talent management in gaining business success, with specific reference to Etisalat, a growing telecoms company within the Nigerian economy. Introduction In emerging economies, such as Nigeria, there is a need to consider the strategy for growth within organisations, both national and multinational. This raises several questions, in terms of business strategy and specifically requires the consideration of whether or not talent management should be the central theme for this discussion. As part of this research the key themes will be to look at talent management in the context of how this aligns with busienss success and then beyond that how it works within the emerging economies. . Motivation for the Research Determining the level of importance of talent management and the way in which it is best incorporated into the wider business strategy is of key importance to Etisalat and the technological industry, in general, but also potentially has an impact on the other industries looking to enter an emerging market and aiming to develop and utilise home grown talent, as well as identifying how talent can be encouraged to join and develop the region. This is a dynamic region and is currently in an appropriate stage for research to be undertaken as to how to develop this, in the future. Rationale for the Research Countries, such as Nigeria, are under an ongoing pressure to provide a region of growth for both their own national companies and for multinational organisations looking to make the most of developing regions that may offer a strategic advantage, in the long ru. (Newman, 2001). This research offers value to the current organisation and any other company looking to going into the region. Where such development is likely, the research here will provide strong guidelines which can be used for the future. Scope and Limitation of the Research This research will look specifically at the issue of talent management within a large telecoms company in Nigeria which is, in itself, a limitation on the research, as the telecoms industry is dynamic and constantly changing. Therefore, although this provides a good area of research currently, it needs to be borne in mind that this is likely to change over time and also when moving from industry to industry. Furthermore, different countries will have slightly different dynamics, which will need to be taken into consideration when looking at research areas for the future. Research Questions / Hypotheses and Objectives The overall research hypotheses aim to prove, or indeed disprove, the link between early adoption of talent management within the organisation and ultimate business success. It is suggested, at the outset, that there is a direct link between the ability of an organisation to expand successfully and the concerted approach to talent management that is taken by the management team, at the outset. The objective is to identify whether this is indeed a substantial link and, if so, what specific management practices are effective and which are not. Literature Review The concept of talent management has been well documented across a variety of different jurisdictions, including the UK. Talent management is referred by the CIPD (2010) as being â€Å"initiatives and strategies†¦ to harness the unique talents of individual employees and convert their talent potential into optimum organisation performance†. Although there are multiple different definitions in relation to talent management, this is seen as being one of the leading definitions. Back in 2001, the concept of talent management was established by McKinse and Company 2001, who created the concept of â€Å"the war on talent†, which was then taken on by the CIPD, with the likes of the 2012 CIPD documentation, where talent was considered to be the qualities â€Å"of those individuals who can make a difference to organisational performance either through their immediate contribution or, in the longer-term, by demonstrating the highest levels of potential†. Bearing these principles in mind, the literature can then go to consider the role that this approach would take within the emerging market of Nigeria and with particular reference to the telecoms industry. For example, Etisalat created a strategy plan that would span 2011 – 2016 called â€Å"Engage†, with the aim of inspiring staff and encouraging greater emphasis being placed on management and its ability to engage with the staff during a period of dynamic expansion (Etisalat, 2014). When looking specifically at the area of the telecoms industry, it is seen that Etisalat is one of the more pro-active talent management companies, with its own Academy providing learning and development opportunities for staff members in its central head office, in Dubai. As well as creating learning opportunities, there are is also an argument that the company has gained success by looking at the greater brand loyalty from the staff, with the wider perception of what is meant by talent management and how this can link with the emerging markets and companies, such as Etisala (Etisalat, 2014). Gap in LiteratureA seeming gap in the literature which is to be dealt with as part of this research is that of understanding the role of traditional talent management will have on an emerging market and, in particular, the telecoms industry. Specific consideration needs to be given to the notion that there is likely to be an issue with the mobility of staff and the willingness of individuals to move either to or from the area, in order to sustain employment. Research MethodologyResearch designThe proposed research method is deductive in nature, involving multiple different observations which ultimately provide an overall theory. In order to achieve this, it is necessary to undertake both primary and secondary research, to gather a rounded understanding of both theory and then its practical application.Data SourcesFor the literature review, the information will be primarily gathered from journals and reports surrounding the area of talent management, as well as from direct information from Etisalat. It is anticipated that this information will be gathered from free sources, as well as subscribed online journals such as Emerald Insight. Primary research will look at the opinions of HR staff, as well as those subject to â€Å"talent management† within the workplace.Data Collection / Analysis TechniquesA total of 100 individuals will be contacted through the use of questionnaires, to determine the use of talent management and the perc eptions of talent management within the workplace. Of these 100 questionnaires, a further 10 one-to-one interviews will be undertaken, to supplement and further the understanding gained as part of the wider questionnaires. This is based on availability and time constraints, as well as the desire to obtain a balanced view, overall.Sampling TechniquesThe selected individuals will be a mixture of HR professionals and staff members who are targeted as part of the talent management process. This split is thought to be approximately 80 / 20 and will allow both sides of the action to be considered alongside each other and research then undertaken into whether or not the perceptions of the staff differ from the perceptions of the managers implementing these agendas.Practical ConsiderationsEthical considerationsA potential difficulty emerges with the primary research, in that it is asking employees about their perceptions of talent management within the organisation. This is because some ind ividuals may be concerned that expressing honest opinions could have a negative impact on their own career progression. For this reason, as well as commercial confidentiality reasons, the data collected will be entirely anonymised and pass-worded, so that the answers cannot be directly linked to the individuals in question.Suggested Research TopicsThe overall topic is the link between talent management and business success; however, there will be several sub areas of research that will also be considered as part of this; for example, how can various initiatives impact on the role of talent management, the role of talent management from the point of view of recruitment, performance management and promotion. Consideration will also be given to the mobility of individuals within the emerging world and the political aspects that may be relevant. Project Plan The research will take place over one academic year and 10 months of total work. This is broken down as follows: Month 1Background research and delineation of questions and areas of research Month 2Literature review and setting out the questionnaires for the primary research Month 3Literature review and sending out of primary research Month 4Collation of primary research and analysis Month 5Collation of primary research and analysis Month 6Review of literature based on findings of primary research Month 7Review of literature based on findings of primary research, conclusions and summary Month 8Conclusions and summary Month 9Writing of report Month 10Review and preparation of presentation This is a reasonably flexible time frame, with recognition that there will need to be a consolidation time period at the end, to revisit key areas. Bibliography – suggested initial bibliography (to be added to during the research) Bersin & Associates. (2012). New research finds UK talent acquisition spending rose six per cent in 2011. London: Bersin & Associates. Chartered Institute of Personnel and Development. (2006). Talent management: understanding the dimensions. London: CIPD. Chartered Institute of Personnel and Development. (2010). The talent perspective: what does it feel like to be talent-managedCIPD, London. Available: http://www.cipd.co.uk/NR/rdonlyres/95D2D604 -36C6-450A-996A-01F45F0B17C5/0/5262_Talent_Perspective.pdf (Accessed 18/09/12) Chartered Institute of Personnel and Development. (2012). Talent management: an overview, CIPD, London. Available: http://www.cipd.co.uk/hr-resources/factsheets/talent-management-overview.aspx (Accessed 3/10/12) Cheese, P. (2008). The talent powered organisation: strategies for globalisation, talent management and high performance. Cornwall: MPG Books ltd. Etisalat (2014) Etisalat Strategu. Available at: thttp://www.etisalat.com/en/ir/corporateinfo/etisalat-strategy.jsp McKinsey & Company. (2001). The war on talent, McKinsey & Company Inc, USA. Available: http:// autoassembly.mckinsey.com/html/downloads/articles/War_For_Talent.pdf Newman, E. (2012). What is the definition of CRMInside Talent Management Technology, Available at:

Thursday, August 29, 2019

Demand for Money Essay Example | Topics and Well Written Essays - 1000 words

Demand for Money - Essay Example Defining M as the money supply, P as the price level, Y as the real aggregate output and V as the Velocity of money, the average frequency of spending of a unit of money across all transactions in a given time period, the focal representation of the theory is through the equation of exchange: MV=PY. This equation simply states that the amount of money supplied multiplied by the number of times a single unit is circulated equals the nominal value of aggregate output or income. This is more or less a tautological identity. The equation of exchange however can be translated into a theory of money demand by noting that in equilibrium, money supplied is equal to money demand and therefore, M=MD and rewriting the equation of exchange as: (1) Thus, evidently, this theory implies that given a constant velocity in the short run and the price level, the demand for money is a function of Y only. Additionally, if Y is fixed at its full employment level and V is fixed in the short run then note t hat an increase in the money demand will lead to a proportional increase in the price level implying inflation. The assumption of a constant velocity in the short run follows from the belief that velocity is determined through technological and institutional factors of the economy and these factors undergo changes at very slow paces or are altered in discrete jumps over large intervals of time. Thus velocity remains unaltered over shorter time horizons. Therefore, to summarize Fischer's theory of money demand, money demand is determined by the magnitude of transactions generated by any particular level of nominal income PY and institutional and technological factors that determine the velocity of money. Rate of interest has no significance in the determination of the demand for money in an economy. The Baumol-Tobin approach to money demand is essentially an extension of Keynesian ideas regarding the demand for money. Keynes argued that interest rate has a substantial role to play in the determination of money demand. Particularly, Keynes noted that money demand has three components: the transactions demand for money, the precautionary demand for money and the speculative demand for money. Transactions demand for money is the demand that is generated due to the fact that receipts of money and expenses occur at different points in time and therefore, people have to maintain a reserve of money for transaction purposes at points in time when receipts do not occur but expenses must be made. Precautionary demand for money is the demand for cash that results due to people maintaining reserves for unforeseen contingencies. These two types of money demand, in Keynes' theory are functions of the income only. These were clubbed together by Keynes as L1(Y). The last part of money demand is the speculative demand for money which derives from the fact that people hold money since it is a store of value. According to Keynes' theory, people can either invest in bonds or hold cash money. The opportunity cost of holding cash as opposed to bonds is the forsaken interest payments or capital gains. The interest rate therefore has an inverse relationship with the speculative demand for cash. The idea was that if people expect a particular interest rate to prevail then if interest rates were above this, people would expect a decline in interest rates in future. This implies that bond

Wednesday, August 28, 2019

Jazz music Assignment Example | Topics and Well Written Essays - 2750 words

Jazz music - Assignment Example It was attended by a huge audience consisting f mainly university students. I attended the concert to have a firs-hand experience and make personal observations n whatever I encountered. This paper presents a candid, critical and in-depth review of the concert. It does this by focusing on the performers, audience, venue and general performance. During the concert, the band played a series of tracks. These were very interesting jazz songs that have dominated the music scenes for decades. As a band, Paul Iquihua consists of a team of experts who are specialized in playing different instruments as they perform to thrill their audiences. Having taken my time to attend the concert, I got an opportunity to enjoy jazz songs which I have never seen being performed live on stage. Just like the rest of the audience, some of the songs were familiar to me. At the same time, there are others that I have never gotten a chance to attend a live concert and enjoy them being performed on stage. In the program was Faubourg Treeme. The melodious song was composed by the legendry John Cooper. It was played during the concert because of its popularity. While doing this, I observed that the musicians were quite organized and well coordinated. All the instruments were properly played to ensure that the vocalists and the instruments produce sweet melodies throughout the performance. According to my observation, the song was a right choice for the concert as it was used to create a good rapport between the artists and the audience. Everyone danced to the tunes because it was quite outstanding and remarkable. The song was quite hilarious because it was composed by a renowned American musician who has been attributed to the composition of great hits that have of course revolutionized the jazz industry (Szwed 71). In the list of performance was another song called Daahoud. It was composed by Clifford Brown, an American trumpet player who lived between

Tuesday, August 27, 2019

Marketing plan Essay Example | Topics and Well Written Essays - 750 words - 2

Marketing plan - Essay Example With a range of popular brands in the FMCG sectors including: Americana Meat, Americana Cake, Farm Frites, California Garden, Greenland, Lion, Kiko, Gulfa, Americana has a great chance to expand their presence and to reach more consumers in one of the biggest and most complicated markets in the world. In the UK market, the target market for the â€Å"HALAL† brand will be the Muslim people who immigrants whose number has greatly increased due to their settlement in the country decades ago. We will also target the Muslim business people who have been moved to the country by multinational companies that have invested in the country. Therefore, Halal will target these two groups of Muslims who still holds on to their religion and its teachings. As a result, they are willing to spend their income on foods that is stipulated in the Quran to constitute a lawful meet among the Muslim religion. In the UK, we will modify our brand positioning. The new Brand position to be adopted is the provision of a lawful meat among the Muslim religion. In addition, UK being a highly stable economy with high minimum wage, we will still adopt the pricing the product high to presage the quality of the product because consumers have high disposable income and high spending level (Cadogan, 2009). Several methods of communication will be used in relaying messages to the respective consumers informing them how the product is of high value to their religion. In short, Americana will position themselves in the UK market as a convenient, healthy, tasty, nutrient, and high-quality and high value to Muslim religion brand. In addition, the Americana meat products will be linked with indulgence and health benefits. In the UK, we will launch the product under the same brand name. This is so because such brands are well established and are therefore recognised widely by all the Muslims. Changing the

Monday, August 26, 2019

The Contributions of Web 2.0 in E-Learning in Saudi Arabia Research Paper

The Contributions of Web 2.0 in E-Learning in Saudi Arabia - Research Paper Example Very many studies and researches have been carried out with the aim of promoting E-Learning as a means of fostering better education in the world (Webster & Hackley, 1997). Most of these researches have failed to contribute to the development of E-Learning due to various reasons especially in Saudi Arabia. One of the main reasons maybe their failure in assessing the relationship between Web 2.0 and E-Learning. Students in Saudi Arabia have shown less or no interest in using E-Learning as compared to their counterparts in Ukraine and Russia (Al-Jarf, 2004). Students are although still reluctant to accept E-Learning (Alenezi, Veloo, Karim, 2010, Al-Jarf, 2007). Several factors have been found to have significance contribution to the acceptance and use of E-Learning (Yi et al., 2001; Galletta et al., 1995). One of the factors that have had significance influence on E-Learning is the Web 2.0 technology. The use of Web 2.0 is on the increase; moreover, Web 2.0 features such as social netw orks have made enormous changes to various aspects of our lives. People involved with social networks can share their opinions, photos and videos, and they can learn many things that relate to their studies and their lives (Weaver & Morrison, 2008; Bemis-Dougherty, 2010). This research aims at establishing what contributions Web 2.0 technology has had on online E-Learning in Saudi Arabia. Aims of the research This research aims at: To spread the culture of technology that helps to create an e-learning community. To provide higher education for people who do not have the opportunity to join a university. Objectives There are several reasons as to why this research is significant and they are: To examine the number of users on Web 2.0 on education purposes To investigate challenges of using Web 2.0 on E-learning To provide an opportunity for many users to learn through Web 2.0 To determine how to reduce the cost of education using e-learning To determine how to boost the confidence of people who want to share To compare the gender differences as far as the use of Web 2.0 is concerned To determine the value of Web 2.0 for students To identify the barriers of using Web 2.0 in Saudi Arabia To determine the popular uses of Web 2.0 by students Literature review In this research, literature review will come from various studies and work from different information designs concerning with World Wide Web. Reports and other representations from individual researchers, as pertains this subject matter, will be used. Different reports that attribute to the effects of using the web, especially Web 2.0., on E-learning will be used to support the research. The researcher will determine the contribution of Web 2.0 in supporting e-learning in Saudi Arabia as discussed below. Examples of Web 2.0 support of E-learning Web 2.0 includes social network sites. One way of distributing information is to have the society accept it. E-learning is hugely enhanced by social networks. All age s are encompassed in this network. Every age is represented in this network. Information is easily shared if people consider it to fun. In order to embed a new culture into a society, the society must accept and welcome the new culture. Blogging is also provided by Web 2.0 where information is shared amongst a focus group, and each is allowed to give feedback. This is the best way of dialogue. A topic is provided, and people can give

Sunday, August 25, 2019

Law Essay Example | Topics and Well Written Essays - 1750 words - 1

Law - Essay Example The ways in which a defendant may interfere with the interests of the claimant is either by affecting materially his land or affecting his use or enjoyment of land or the interference with the servitudes and similar rights over the land. The most important case in respect of material interference with property and interference with use or enjoyment and their distinction was St Helens Smelting Co. v. Tipping1 whereby the House of Lords that the surrounding circumstances were important but there were different provisions when the concern was in respect of material injury to the said property. There had been different reasons which had been attribute to such a reasoning a few included that greater protection was offered to the prior aspect of property than to enjoyment derived from the property or the ease of quantifying. The next issue that needs to be considered in respect of nuisance is material damage to property and whether the defendant is held liable for such material damage. The important aspect in respect of nuisance which relates to this question is that of interference with the use or enjoyment of land. It is important to mention that not every interference in respect of enjoyment of property is held to be actionable as can be seen in the judgment of Vice-Chancellor in Walter v. Selfe2 that the inconvenience must be ‘considered in fact as more than fanciful, more than one of mere delicacy or fastidiousness, as an inconvenience materially interfering with the ordinary comfort...of human existence, not merely according to elegant or dainty modes and habits of living, but according to plain and sober and simple notions among the English people’. Thus a balance must be struck with enjoyment of use of occupier and his neighbour (Halsey v. Esso Petroleum Co, Ltd.)3. The interference is dependent on reasonableness which in turn is dependent on a number factors that duration of the interference, sensitivity of the plaintiff, character of neighbourh ood and fault of the defendant. The first aspect is that of duration which should be appreciable. (Cunard v. Antifyre Ltd. where it was said to be substantial length of time)4 . However, in Harrison v. Southwark and Vauxhall Water Co.5 it was stated that something which would normally constitute to be nuisance would because of its temporary and useful nature be excused. As far as sensitivity is considered, the courts would not allow a claim for an abnormal sensitivity of the claimant or his property which makes a undisruptive activity to be harmful to the defendant. The next aspect is that of character of the neighbourhood which as stated in St Helens is not to be considered in respect of cases which deal with physical damage to property, however, it is applicable to cases where the interference is in respect of enjoyment or use. In Sturges v. Bridgman Thesiger LJ stated ‘Whether anything is a nuisance or not is a question to be determined, not merely by an abstract considerat ion of the thing itself, but in reference to its circumstances; what would be a nuisance in Belgrave Square would not necessarily be so in Bermondsey; and where a locality is devoted to a particular trade or manufacture carried on by the traders and manufacturers in a particular established manner not constituting a public nuisance. Judges and juries would be justified in finding, and may be trusted to find, that the trade or manufacture so carried on in that locality is not a private or actionable wrong.’

Saturday, August 24, 2019

Evolution of Mass Communication Essay Example | Topics and Well Written Essays - 500 words

Evolution of Mass Communication - Essay Example There had been past references to the power of mass media to influence its audience in a large measure, but it was in the 1920s and 1930s, through the growing influence of radio and newspapers, that theories were formulated. One of the earliest theories on mass media is called Magic Bullet. This concept is anchored on the early thinking that messages were like magic bullets that struck the audience equally, creating uniform effects in terms of perception. It is postulated on the belief that everyone is passive and equally susceptible to media messages. A classic application of the Magic Bullet Theory happened on October 30, 1938, when on the eve of Halloween, regular radio program was interrupted for the first time with a "news bulletin" that Martians had begun an invasion of Earth in Gover's Mill, New Jersey. About 12 million people in the United States heard the broadcast, with at least one million actually believing that a serious alien invasion was happening, creating a wave of hysteria that triggered traffic jams and clogged communication lines. The aftermath of the broadcast suggested that media could manipulate a passive and gullible public, leading media theorists to believe the power of mass media. Not everyone believed in

Friday, August 23, 2019

Business Ethics opinion paper Essay Example | Topics and Well Written Essays - 500 words

Business Ethics opinion paper - Essay Example It is against the law for an employer to discriminate against people on other factor other than disqualification especially those with disabilities. I agree that discrimination can both be institutional or at individual level. I believe that people can discriminate by stereotyping or on personal prejudice. I understand that other people can unconsciously or thoughtlessly discriminate at workplace while trying to accept the traditions, norms or stereotypes. For instance, an employer can look at women and assume that they should be at home taking care of their families and become biased in making decisions on hiring women to the workplace. Focusing on this example, I suggest that organizations should provide materials and training to avert such situations by condemning actions of stereotyping in the workplace since both men and women have the same opportunity and knowledge of taking up responsibility in any company (Roth 46). Sometimes institutions can intentionally and explicitly discriminate against certain groups. On institutional-based discrimination, I strong believe stern and severe action should be taken to mitigate discrimination to provide examples and curb against discrimination. I strongly disregard institutions that when hiring disrespect people like older employees, marginalized tribes, other sexes or the young in the society. For instance, where a black man is forced to work in the kitchen where he cannot be seen by customers who are believed to be white, I strongly condemn this action since it is against the human rights of the black man. I am of the view that employers should give an opportunity to the black man to undertake responsibilities in the where the whites are working in the restaurant as long as he has the qualifications for the job (Roth 46). My study on general statistics and evidence on occupational discrimination have proved that women worker were the most discriminated whereby they

Technology for business Coursework Example | Topics and Well Written Essays - 250 words

Technology for business - Coursework Example This is through the various tools that are available ranging from software management and social networking tools. Finally, the company has achieved improved customer experience as technology has led into better ways of managing and retrieving customer information. On the other hand, the use of technology poses threats to the company. First, the company is likely to lose its customers who rely on the products that are carefully crafted by the employees. The use of technology makes the products that are produced by the similar to other companies in the market. It can be observed that the customers opt for products that are produced by the company since they are specially crafted by hand (Attaran 588). The second threat is that technology within the sector is dynamic and this means that the entity is forced to invest heavily in technology. The company is advised to implement the new technology gradually into its poduction and this will ensure that the customers accept the change process in the same way. Finally, the company should invest into the form of production that is likely to be used for a longer

Thursday, August 22, 2019

Key aspects of legislation Essay Example for Free

Key aspects of legislation Essay For example: Having a training session in a room only accessible by stairs would discriminate against a person with difficulty walking due to disability or age. Unnecessarily strict dress codes could discriminate against a person who wears a turban, hijab or sari. In most cases, such inadvertent discrimination could be avoided by ensuring that full details of any requirements are obtained at registration. It is vital that the reasonable adjustments required by the student are available right from the start, if possible without the student having to ask for them. This will enable that student to participate at the same level as their peers, without drawing specific attention to their additional requirements. A teacher would also need to be on guard to ensure that no deliberate or accidental discrimination took place between students, such as sexism or racism, even in jest. One way of addressing this is to have the students themselves develop and agree to a code of conduct from the start. Health and Safety at Work Act 1974 This Act is concerned with securing the â€Å"health, safety and welfare of persons at work† (Health and Safety Act 1974) as well as protecting other people in connection with the activities of the person at work (for example, students). Some examples of this might include: Ensuring that electrical equipment is tested and safe before use Ensuring that there are no trailing wires which may cause a trip hazard Ensuring the teaching space is safe and suitable before the students arrive Checking any materials for possible hazards, such as risk of allergic reaction Carrying out and maintaining a risk assessment. Other legislation and codes of conduct to be mindful of include: Child Protection Guidelines – although my area of interest is with teaching adults, it is feasible that I would come into contact with children under 16 professionally Data Protection Act 1998 – I would need to ensure that all personal data held on my students was stored accordingly Freedom of Information Act 2000 – this legislation may apply should I be employed by a public body Copyright, Designs and Patents Act 1988 – for example, the use of photographs downloaded from the internet and used in training materials Specific codes of conduct issued by employers. References www.legislation.gov.uk Last accessed:12th May 2014

Wednesday, August 21, 2019

The takeover of HBOS

The takeover of HBOS Introduction Mergers and acquisitions have become the most frequently used methods of growth for companies in the twenty first century. Nowadays the information about mergers and acquisitions (MA) can be seen every day in newspapers, internet, television MA can suddenly become a hot topic at anyones workplace because their company is going to merge with another. There are many sides to an MA transaction strategic, legal, financial, and technological to getting a deal done. One very important element to every deal is the human element, this should always be kept in mind. We are going to evaluate the challenges faced by the management of the new organisation in terms of Human Resource Management (HRM) with reference to the recent takeover of Halifax Bank of Scotland (HBOS) by Lloyds TSB in September 2008. The evaluation will include the role of HRM in analyzing the Lloyds TSBs decision to make a takeover bid for HBOS, how this analysis related to Culture, Conflict and Change within the organisatio n and possible dilemmas facing Lloyds TSBs stakeholders. Background and purpose of the takeover of HBOS by Lloyds TSB Background On 17 September 2008, very shortly after the demise of Lehman Brothers, HBOSs share price suffered wild fluctuations between 88p and 220p per share, which lost almost half its market value in the week, despite the Financial Services Authoritys assurances as to its liquidity and exposure to the wider credit crunch. However, on 18 September 2008 the terms of the recommended offer for HBOS by Lloyds TSB were announced. The two lenders also revealed plans to raise a combined  £17 billion under a government-funded recapitalisation programme aimed at strengthening the UK banking sectors capital reserves. The government backed the deal using a special national interest clause on the grounds that a collapse of HBOS would have had a disastrous impact on the UK. On 16 January 2009 the Lloyds TSB acquisition of HBOS was completed following final court approval and Lloyds TSB was renamed Lloyds Banking Group plc. Purpose of the takeover: The proposed acquisition of HBOS would combine two powerful financial institutions, and would be another significant and positive step on our journey to provide substantial benefits and value for customers and shareholders alike. Challenges faced by HRM in MA Organisational Behaviour Model Due to the resulting pressure for the MA to succeed, the management of the new organisation is forced to find new strategies as well as evaluate the additional challenges faced. To answer the question of how well the management performed during the integrating activity, it is useful to look at internal factors using the McKinsey 7-S framework. This framework was developed in the early 1980s by Tom Peters and Robert Waterman. The basic premise of the model is that there is a framework which maps a constellation of interrelated factors that influence an organisations ability to change. The McKinsey 7-S model involves seven interdependent factors which are categorized as either hard or soft elements: Hard elements are easier to define or identify and management can directly influence them: these are strategy statements; organisation charts and reporting lines; and formal processes and IT systems. Soft elements, on the other hand, can be more difficult to describe, they are less tangible and more specifically related to HRM. These soft elements are as important as the hard elements. A conservative estimate is that roughly 10% of people at work at any one time are directly affected by transformations of this sort. Moreover, another 30% are closely related to those experiencing combination-related tensions and trauma (Buono and Bowditch, 2003). These figures show how the critical challenges faced by management in every MA relate specifically to HRM. The company that effectively addresses people-related issues up front and throughout integration will have a better chance of succeeding and gaining the competitive advantage it seeks. The challenges faced by management in term of HRM in MA. The HRM issues in the MA can be classified in two phases; the pre-MA phase and the post MA phase. HRM should be involved from the beginning and throughout all stages of the MA process. Due diligence is important in the first phase while integration issues take the front seat in the later phase, including: Cultural clashes: Each organisation has a different set of beliefs and value systems. The exposure to a new culture during the MA leads to a psychological state called culture shock. Dissimilar cultures can produce feelings of hostility and significant discomfort which can lower the commitment and cooperation on the part of the employees, therefore post-merger cultural clashes are often blamed for disappointing MA outcomes. According to Anders Spilling and Jarle Hà ¸ien, managers in BearingPoints Business Strategy and Transformation pratice, there are five areas of cultural conflict: Leadership: every companys leadership style can seem unique. When post-MA senior leaders sitting at the same table motivate their staffs and resolve conflicts in diverse ways the resulting friction often creates additional risks. Examples of these risks could be a lack of commitment to new company goals or a high level of turnover among key employee groups. Governance: effective corporate governance requires much more than a system to protect stakeholder interests. It must encompass the way decisions are made in each part of the company and across organisations. One problem that usually arises is the debate over whether the new organisation should adopt one merger partners governance model or define a different model. Communication: Attitudes about confidentiality, preferences for formal versus informal channels and the frequency of communications may all come into play. By anticipating these risks well in advance, the acquiring companys leadership can develop communication tactics that best support the merger objectives. Business process: most companies have distinct ways of developing, updating and enforcing core business processes which must be understood and respected during the integration phase. If changes in core business processes are not deliberately and systemically thought through during the integration phase, organisations face the risk of internal breakdowns and failures in delivery of products and services to customers. Performance management and reward systems: new organisation should include efforts to harmonize performance standards and compensation systems where possible, while explaining important differences when necessary. Newly merged companies must help employees understand that their different recognition and reward systems are fair, even if not always uniform across the organisation. Because cultural change involves both hard and soft issues, HRM considerations will include visible manifestations such as key performance indicators, communication styles, employee interaction, as well as less tangible corporate values and assumptions about how a company does business, such as how leaders drive and assess results and new organisation governance model These findings have important implications for how organisations can anticipate post-merger cultural clashes and tailor leadership programs to address their underlying roots, ultimately enhancing merger success rates. Uncertainty job security: The MA leads to duplication of certain departments, bring about the excess manpower and downsizing is, unfortunately, an inherent result. Hence talking about MA, the first set of thoughts that occur in the minds of employees are related to security of their jobs, changes in designation, career path, working in new departments and fear of working with new teams. The MA also changes future opportunities for the employees in the organisation. Some employees also have to be relocated or assigned new jobs. This may have an impact on the performance of the employees and cause the organisation to lose some talent. The enormous challenges posed by an MA to the HRM are keeping all employees informed of all crucial decisions as well as enhancing effective two-way communication by involving line managers; ensuring an equitable and fair treatment of employees and in case of lay-offs, HRM should offer outplacement services and fair severance packages. All these efforts from HRM can help build trust, quell the rumour mill, relieve anxiety, focus people on the business and its possibilities and lessen productivity loss. Inability to manage changes: Often there are rapid changes in the business environment after MA. Internally HRM will manage a bigger work force, externally HRMs industrial relations will be extended The role of HRM is to quickly develop a HR plan to lead the process for helping the company to achieve the synergies it needs. The HRM must fully be prepared for the significant role they will play throughout the MA process. The issues faced by HR professionals when supporting the MA are extremely demanding they require the creation of a single unified organisation with a clear purpose and set of values from two groups of people with different cultures. HRM should continuously update their knowledge and skills in managing, controlling and monitoring the enlarged workforce, HRM need the ability to adapt to changing circumstances, acknowledge the problems when they arise, improving communications skills, create training programme, explain new roles to employees, implement stress reduction programmes and orientation pro grammes, help post merger team building and feedback helpline for employees. The issues faced by HR during MA deals are enormous, yet it is clear that the key to the success of an MA is the management of people. By identifying the common challenges and finding solutions which work for the new organisation. The value of HRM in the MA should be realised early enough to enhance the chances of a successful deal. Analysing Lloyds TSBs decision in making a takeover bid for HBOS. Issues related to Culture, Conflict and Change: The theory mentioned above regarding issues related to organisation development in term of culture, conflict and change applied very closely to the general challenges faced by the new Lloyds TSB organisation in the post-takeover period. Culture The basis of corporate culture is shared values. These values must be stated as both corporate objectives and individual values, explicit or implicit fundamental beliefs, concepts, and principles that underlie the culture of an organisation. Lloyds TSB and HBOS were two of the UKs leading financial services companies, they have some similarities in organisational structure. According to Charles Handy (1985), who popularized the work of Roger Harrison (1972), has linked organisational structure to organisational culture, both Lloyds TSB and HBOS have Role culture in where people have clearly delegated authorities within a highly defined structure. Power derives from a persons position and little scope exists for expert power. Lloyds TSB and HBOS rest on the strength of strong organisational pillars-the functions of specialists, for example, customer advisors, banking advisors, personal financial advisors On closer inspection, each of them will have its own unique culture, and like most large businesses are likely to be something of a mix of culture and even, each branch, or division has its own culture. From table 1- Soft elements by McKinsey 7-S framework in Lloyds TSB and HBOS, while Lloyds TSB creates an exciting place to work with a lively and fun atmosphere, they affirmed on their website that they have a work hard, play hard culture. HBOS seems to have a more formal working environment with very professional attitude in their approach to work, results-driven, always looking for more ways to move forward and over-achieve. About leadership style, Lloyds TSB built a feedback and coaching culture with regular appraisals twice annually based on Key Performance Indicator system with hierarchy structure. HBOS employed a non-hierarchical culture where everyone was treated equally, fairly. The communication system in Lloyds and HBOS followed these styles as well, hierarchy and non-hierarchy respectively. I dont think these differences in leadership style and communication system were sufficiently considered in the takeover decision. Governance model of Lloyds and HBOS were almost the same, the core purpose was to make it better for their staff, customers and to maximise shareholders value over time. Both groups were led by a board comprising executive and non-executive directorswith wide experience.The roles of the chairman,the group chief executiveandthe boardand its governance arrangements, including the schedule of matters specifically reserved to the board for decision, were reviewed annually. Lloyds and HBOS had very different ways of doing business. Lloyds was very conservative, largely a consumer bank. HBOS was aggressively following the high risk business model, HBOS transformed their traditional banking activities into global trading and speculative operations with little oversight and policing. Although the way of doing business is very important in choosing a strategy for the organisation, the unexpected result of HBOSs strategy and the dominance of Lloyds in the takeover meant that the new merger organisation did not take time to affirm which business model should be followed, therefore this aspect was not critical in the decision making of the takeover. The performance management and reward systems: The Lloyds performance approach includes objective setting using a balanced scorecard, Lloyds has regular performance reviews with competitive remuneration package. HBOS has results-driven rewards, always looking for more ways to move forward and increase achievements. The salary they received is only the beginning because for every role there was a tailor-made total rewards package which was based around three key areas: Performance, Flexibility and Choice. Furthermore, remuneration package for each role, contributory pension scheme, share-save and share-plan schemes, numbers of holidays. are hard to match between the two organisations. These differences of culture will involve much due diligence to identify implicit as well as explicit issues and will require time to build up a proper plan for HRM. The outcome of this plan has an integral role in the decision of the takeover. As the result of the takeover, the above differences in culture mean that the exposure to a new culture is unavoidable. The employees of both Lloyds and HBOS not only need to abandon their own culture, values and belief but also have to accept an entirely different culture. The takeover also leads to changes in organisational climate, the main source of organisation conflicts, which are summarized below Conflict Post-takeover integration demands significant involvement in all level of organizations, both Lloyds and HBOS, causing conflict at work from individual level to organisation level. Organisation cultural: there is no doubt that Lloydss culture is dominant and may lead to feelings of superiority among some of the employees. The employees of non-dominating culture, HBOS, may also get feelings of loss of identity associated with Lloyds. The dissimilarity in the cultures can produce the feelings of hostility and significant discomfort, for example HBOS may feel uncomfortable with the hierarchy of organisation structure and the communication system of Lloyds. In case of hostility in certain environment, some teams may develop us versus them attitude which may be detrimental to the organisational growth. Conflict in maintaining stability: The need for reform in organisation structures, redefinitions of assigned duties and responsibilities, adjusting the procedures and methods of work after the takeover, can result in conflict in maintaining stability. There should be a commitment to maintain employment in those parts of the UK in which either HBOS or Lloyds TSB currently have significant operations. This should be backed by a commitment to take all possible steps to avoid involuntary redundancies in order to avoid the potentially devastating impact on local communities and economies of large site closures. Conflict in investment in resources: both Lloyds and HBOS have their own large resources that may already be committed to investments in other areas or strategies before the takeover. As this takeover had a short notice period, assets such as branch offices, CRM software, equipment and people which have just been invested cannot easily be altered, thence conflicts arise. Which invested categories should be dropped? In fact, HBOS had in-house call centre operations, while Lloyds had a policy to outsource or off-shore its call centre. Each call centre model has its own advantages and disadvantages, what operation model should be maintained? In the short term, HBOS calls for Lloyds TSB to review all existing and planned outsourcing or off-shoring of operations to maximise employment opportunities in the UK for current employees. Conflict with past contracts or agreements: Both Lloyds and HBOS entered into contracts or agreements with other parties, such as government, trade unions, suppliers, customers and their own employees. These contracts and agreements can conflict with the changes cause by the takeover. For example, there should be a statement from Lloyds TSB committing that HBOS employees pay, pension provisions, employment benefits will be protected. Also, there should be a commitment that if there are new terms and conditions of employment for HBOS and Lloyds TSB staff, those should be no less favourable than the terms and conditions applying before the acquisition. Conflict in power or influence: Another practical problem is differences in the grading or organisational structures. The organisational structures used have different designations for the employees. During the integration Lloyds need to develop a mechanism to remove the differences in the grading systems, bring them to equal levels between Lloyds and HBOS, introducing standard levels of control over decisions, resources or information. Lloyds TSB should make a commitment to dignity at work for all employees and commit to the highest standards in relation to equality, diversity, equal pay and future career development opportunities post-takeover. The reaction of the employees in conflicts can vary from anger to dejection and depression. There can also be a fall in the morale, commitment and loyalty which can lead to impaired performance. Identifying the conflicts in advance will help Lloyds TSB management decide on the takeover. I think Lloyds TSB management was confident enough in their ability to control the above defined conflicts and believed that they would get more chances of success in the changes below: Change: In the decision of the takeover bid for HBOS, Lloyds TSB management board had targeted the opportunity to change for a stronger Lloyds Banking Group. As a common reaction, every change in the enlarged Lloyds TSB is resisted at both the individual and the organisational level. According to Alvin Toffler (1970), people are naturally wary of change and suspicion is out of control. Besides the changes in strategic, legal, financial and technology, the changes in HRM should be carefully designed and proceed with gradual pace. As part of the decision regarding the takeover, Lloyds TSB had considered the strategy to overcome the individual resistance and organizational resistance. Monday 19 January is Day one, the two brands still remain separate. A spokesperson for Lloyds TSB said: It is business as usual. This statement helps to maintain the secure feelings in customers, shareholders and employees. From the early stage of the takeover, Lloyds TSB had set up a guiding team to provide change leadership and handle every steps of the change process. They have created a website to update on a regular basis to shareholders, employees and customers on the proposed acquisition of HBOS by Lloyds TSB and to give them information about the Lloyds Banking Group in this rapidly changing environment.Divisional changes will be communicated via line management and divisional intranet sites. HBOS partner unions, Accord and Unite, will continue to play an important role as before in the new business. There will be no major changes for the vast majority of HBOS employees. The existing HR policies and procedures remain in place. The 2009 pay review will be in May as usual. There will be little immediate change to Total Reward. The current pension arrangements will continue for all employees. Initially, there will be no change to the HBOS performance management approach. Employees will be introduced to the Lloyds Banking Group performance approach during 2009. Lloyds TSB was aware of the default response of resistance during the change of the takeover decision. Therefore they had suitable response to manage the sustaining of a healthy climate in order to gain a commitment to change in the whole organisation. Dilemmas facing Lloyds TSBs stakeholders Lloyds TSB and HBOS had, on a number of occasions over the years since 2000, discussed the possibility of a merger. It was only the unique circumstances of September 2008 that enabled this transaction to happen with the nature of the Governments involvement in the banking sector. In particular, the purpose of Governments interventions that is to stabilise the banking system, provide liquidity and to encourage more lending. Following the collapse of Lehmans, closely followed by the nationalisation of the worlds biggest insurance company AIG and the spreading of the world recession meant that the Government needed to take swift and decisive action by taking the extraordinary step of waiving competitions concerns to get the deal done. Lloyds TSB management board was very aware of the compelling logic of this transaction, including the substantial market positions they would secure and the significant and substantial synergies, the opportunities for growth which a stand-alone Lloyds TSB might not have been in a position to deliver to the same degree. Furthermore, the opportunity to acquire HBOS only came about in the middle of economic adversity and in conditions which are unlikely to be repeated. Besides the support from Government and the opportunity for growth, Lloyds TSB management board was very mindful of the difficult economic backdrop to this transaction with the prospect of further declines to come. However, Lloyds TSB purchased  £17.9 billion of HBOS net asset value for  £7.7 billion so, they were very much convinced that this was the right transaction for Lloyds TSB. The short-term outlook was indeed difficult and problems with the finances of HBOS will not disappear overnight. However, the earnings potential of Lloyds Banking Group will be significantly improved in the longer term. Lloyds TSB directors also understood that after the takeover, to reduce the systemic risk in the UK banking system, the recapitalization scheme has already cost Lloyds its 240-year-old independence. The UK Government, as part of the capital raising process, has now become a 43.4 per cent shareholder in the group. As part of Her Majestys Treasury (HMT) recapitalisation scheme, the Group was required to suspend the payment of cash dividends to ordinary shareholders until the HMT preference shares issued as part of the scheme are repaid. This is considered as a noticeable contribution from Lloyds TSB shareholders in their favourable voting for the takeover. One big concern to the Lloyds TSB employees and unions is the redundancy issue during the global financial recession. Although Lloyds TSB and the government dismissed reports of redundancies involving one third of the workforce and pledged to continue using HBOS headquarters in Scotland, the union leaders believe the job cuts will be about 15,000 in one year out of a 140,000 workforce. This brings concern to the employees about the serious plan which is designed to protect the members jobs and terms conditions of employment. The governments dilemma is how to stabilise the banking system and maintain an equitable business environment. The management boards dilemma is how to continue growing and manage the burden of the ailing HBOS, between short term and long term outlook. The shareholders dilemma is the potential of future substantial share value versus waiving current dividends or the workforce redundancies. In the context of the economic downturn in autumn 2008, Lloyds TSB had to consider the weighting between the benefits and adversities of the takeover, it was really the hard dilemma facing Lloyds TSBs stakeholder in making the decision of the takeover. Conclusion: 2008 was a very difficult and challenging year for the banking industry, the deteriorated market conditions have continued into 2009, both in the UK and overseas, a prolonged period of economic difficulty for many households and companies. The UK Government had to intervene in the banking system by providing capital and liquidity where the markets had failed. At times of great economic and financial uncertainty, many apparently settled ideas come under great scrutiny. When Lloyds TSB announced it was acquiring HBOS plc; and now about a year since the transaction was completed (16 January 2009), the deal is still receiving ceaseless criticism. Critics should consider what would have happened to the UK banking industry and the UK economic situation if the takeover had not taken place? If HBOS had failed, how many HBOS branches would have closed? How many employees would have lost their job? How many bank accounts of customers would have been affected? As a bank with a strong focus on customer relationships, Lloyds TSB is committed to helping its customers wherever possible to manage their way through these challenging times. Without doubt, the Lloyds Banking Group have spent great deal of time to overcome the challenges faced and fulfilled all necessary obligations to society. Here, never forget to mention about the crucial role of Human Resource Management during the pre-takeover and post-takeover. With only a short period of time for preparation, Lloyds TSB Human Resource Management have tried their utmost to create new HR practices and strategies that meet the requirements of the takeover. Employment law challenges, culture clashes, talent retention, employee engagement, recognition and conciliation conflicts, the HRM of Lloyds TSB has harmonised all activities in all phases leading to the creation of a unified organisation with a mission, vision, a clear purpose and values from two culturally different groups. Although there a re some shortcomings due to subjective and objective factors, the job that Lloyds TSB Human Resource Management is doing for employees and company is very valuable and highly valued, and it managed not to cause a big disturbance in the UK labour market. Finally, the decision by Lloyds TSB to takeover HBOS appears to have been the right transaction for the company. The support from government was definitely necessary and the favourable vote from both Lloyds TSB and HBOS shareholders showed that they believed this to be the best solution to the problems of both banks. The short-term outlook for the enlarged Group is challenging. Whenever economic conditions do begin to normalise, however, we believe Lloyds TSB will be in a very strong position to reap the benefits. Their strong franchise across the whole range of product lines will enable them to do just that. One of the most important ways in which leading businesses differentiate themselves from their peers is through the quality of their people and their strong commitment and Lloyds Banking Group believes that they have the qualities and the right people to ensure the bright future. APPENDIX 1: Background of Lloyds TSB and HBOS Lloyds TSB Bank Plc is a UK-based financial services group, which employed about 70,000 people. It was established in 1995 by the merger of Lloyds Bank, established in 1765 and traditionally considered one of the Big Four clearing banks, with the TSB Group which traces its origins to 1810, creating Britains largest retail bank, over all, Lloyds-TSB would be the fourth-largest bank on the stock exchange in terms of assets. Lloyds provides a wide range of banking and financial services to personal and corporate customers. Its main business activities are retail, commercial and corporate banking, general and life insurance, pensions and investment provision. Its services are offered through a number of brands, including Lloyds TSB, Cheltenham Gloucester and Scottish Widows. Its UK turnover in 2007 was  £18 billion. HBOS is a financial services group, which employed about 72,000 people in the U.K., was created in 2001 in the 9.7 billion-pound merger of Yorkshire-based mortgage lender Halifax Plc and Edinburgh-based the Governor and Company of the Bank of Scotland. It is the UKs largest mortgage lender. HBOS provides a range of banking, insurance, financial services and finance-related activities in the UK and abroad. Its UK turnover in 2007 was  £4.25 billion. The deal of takeover of HBOS by Lloyds TSB was concluded on 16 January 2009. The three main conditions for the acquisition were: Three Quarters of HBOS shareholders voted in agreement with the boards actions; Half Of Lloyds TSB shareholder voted to approve the takeover; UK government dispensation with respect to competition law. On 19 November 2008, Lloyds TSB shareholders voted 95.98% in favour of the takeover. They also approved plans to raise  £5.5bn by issuing new shares and special preference shares. On 12 December 2008, the takeover was approved by HBOS shareholders. A group of Scottish businessmen challenged the right of the UK government to approve the deal by overruling UK competition law, but this was rejected. The government has allowed the takeover of HBOS by Lloyds TSB to bypass normal competition rules. The exchange of HBOS shares for Lloyds Banking Group shares took place at an exchange ratio of 0.605 of a new Lloyds Banking Group share for every one HBOS share held. As a result, the UK Government through Her Majestys Treasury owned approximately 43.4% of the enlarged ordinary share capital of Lloyds Banking Group. Lloyds Banking Group is now the largest financial services franchise in the UK with a range of leading market positions in important product lines, such as savings, current accounts, mortgages, insurance and long-term savings. They are also a leading player in the Small and Medium Enterprise (SME) and wholesale banking sectors. The Group clearly has a very significant retail banking footprint and, with approximately 3,000 branches, is present in more UK locations than any other financial institution. Lloyds TSB Chief Executive Officer Eric Daniels will be Chief Executive of the enlarged company, and the banks Victor Blank will be Chairman. References Mullins, L.J. (2007) Management and organisational behaviour. 8th edn. London: Prentice Hall Buono, A.F. and Bowditch,

Tuesday, August 20, 2019

Facades And Building Envelopes Engineering Essay

Facades And Building Envelopes Engineering Essay Facades and building envelopes, which are the external skin of a building, project the image and creative intent. They can also become important environmental moderators and key influencers in project risk and commercial success. A well designed faà §ade allows a new building to work more effectively for its owners, occupants and the environment. The faà §ade plays a crucial role in heat and light exchange as it is the interface between the exterior environment and interior space. Comfort, productivity, energy use and running costs can all be improved. http://www.arup.com/Services/Facade_engineering.aspx Double skin facades are often used in Europe to resist the cold climate however double-skin systems in Australia are relatively new. One example where the double faà §ade system is demonstrated in Australia is Sydneys 1 Bligh Street high rise. The faà §ade provides great solar control while maintaining clear views of the Sydney Harbour. 1 Bligh Street is a premium grade high-rise building offering 27 levels of office accommodation and features a double-skin, glass facade with a naturally ventilated full height atrium. Amenities include a cafe, childcare centre, shower facilities, bicycle racks and parking for 92 cars. The buildings 6 Star, Green Star rating achievement is the highest awarded in NSW and includes the maximum allowable five points for innovation in categories such as environmental design initiative and exceeding Green Star standards. The building was designed with a focus on maintaining views while providing sufficient daylight levels and solar control. Ray Brown, director of Architectus, stated that the geographic and climatic conditions at 1 Bligh Street were major influences on specification of the double skin faà §ade. BACKGROUND Owners Co-owned by DEXUS Property Group, DEXUS Wholesale Property Fund (DWPF) and Cbus Property. Architects Australian Architectus and Germanys Ingenhoven who came together in 2006 for a design competition. Builders Grocon : Australias largest privately owned development and construction company. Facade Contractor Arup. Facade Consultant Enstrust. Awards 1 Bligh has received a number of awards and has been highly commended for its sustainable design, development and architecture. Awarded Best Retail/Commercial Development Urban Development Institute of Australia NSW Highly commended Office Development Australia category, Asia Pacific Property Awards (May 2011) Highly commended Office Architecture Australia category, Asia Pacific Property Awards Voted Best Tall Building 2012 for Asia and Australis by the CTBUH (Council for tall Building and Urban and Urban Habitat, IL, USA) 2012 NSW Architecture Awards Urban Design Award Sir Arthur G. Stephenson Award for commercial architecture 2012 Milo Dunphy Award for sustainable architecture DESIGN Ingenhoven produced a design allowing workers and the public to see and feel the whole of the community of the building. 1 Bligh Streets elliptical geometry effectively resolves the sites urban condition at the meeting of two city grids. The ellipse is rotated on the site to encompass views to the harbour, thus resolving the urban condition and maximising the buildings commercial value (). The disadvantage is that it is more costly to construct an elliptical building than a square building. However, this is made worthwhile by a magnificent curved atrium at the buildings core providing a sanctuary to its inhabitants. A naturally ventilated glass atrium climbs the full height of the building, providing a circulation of fresh air and a sense of openness on all floors. The glass provides dynamic views through the building making the atrium an arrival point for every floor, enhancing communication, connection and community. The buildings scale is broken in the centre by a large outdoor terrace cut into the floor plate at the lift transfer level. This space has been reserved as its reception floor, making it one of the most spectacular and unique reception of any legal firm in the city. The terrace also cleverly conceals the air intake for the air handling plant above, which is covered in a glass skin making it fully visible within the building. At the top of the building, the inner glass layer peels away, creating a large outdoor timber terrace incorporating banksia trees. This creates the buildings fifth elevation which is observed by taller surrounding buildings. ENVIRONMENTAL THERMAL STRATEGIES Cost effective and sustainable buildings have been a key focus in building design for years. Double skin faà §ade systems are becoming increasingly common in high profile buildings and are being enthused as an exemplary green building strategy. The system consists generally of exterior skins which respond dynamically to varying ambient conditions, which can incorporate a range of shading, natural ventilation, and thermal insulation strategies. The overall purpose of the double skin differs from the conventional system used in European buildings where the intention is to trap the heat by incorporating an extra thermal layer of air. The thermal skin of 1 Bligh is designed to keep the building cool. It does this by stopping direct sunlight from hitting the internal glass. Between the inner and outer glass layers, motorised venetian blinds track the sun and automatically adjust to suit. The outer glass skin incorporates fixed horizontal ventilation slots at each level of the building to encourage upward airflow within the cavity which helps to expel unwelcome hot air. This flow is driven by natural wind since Sydney rarely experiences a completely still day. This result is that the internal skin will never be exposed to air temperatures that are vastly higher than the outside ambient air temperature. The outer glass layer also acts as a weather shield to protect the blinds from severe winds. The inner layer which is double gla zed for world class thermal efficiency acts as a barrier against heat gain in summer and heat loss in winter, thus complimenting the benefits derived from the venetian blinds. http://www.architectus.com.au/sites/default/files/06_0.jpg One of the major benefits of the double skin faà §ade is that operable external blinds can be introduced which normally cant be installed on a high-rise, thus producing a shading coefficient of 0.15 with the blinds down and uninterrupted views when up. Reduced heat and optimised light is obtained as a result, underpinning high performance sustainability and unprecedented environmental innovation. It can be foreseen that double-skin faà §ade systems require more cleaning than a single-skin glass faà §ade, however the outer skin which is the only surface exposed to the elements, will only require six-monthly cleaning with minimal cleaning required on other surfaces. The cavity between the skins is less vulnerable to environmental grime, and the gantry set up will significantly improve the speed and safety of the cleaning task. SUSTAINABILITY Overall, the key sustainability innovations which have been encompassed along with the double glass faà §ade include, natural ventilation to the atrium, 40% recycled concrete, 90% recycled steel, FSC certified timber, recycled timber, solar cooling, tri-generation, black water treatment, rainwater harvesting, sewer mining. 94% of the demolished buildings materials were recycled including steel and concrete (Horiso). An advanced hybrid of VAV and chilled beam air conditioning systems are run off a series of curved solar thermal collectors. The tri-generation system uses gas and solar energy to generate cooling, heating and electricity. The black water recycling method, which is the first to be used in an office tower, reduces the overall water consumption throughout the building with some of the recycled water being used for irrigation. Recycled rain water is also used for irrigation. http://www.architectus.com.au/sites/default/files/04_1.jpg The sustainability features of 1 Bligh Street result in the lowest operating costs of a premium grade building in Sydney, equating to estimated savings of approximately $2 million per annum (Horiso). CONSTRUCTION The inner skin was constructed of high-quality, double-glazed windows, while the outer skin was constructed of single-sheet laminated glass. A 600mm cavity between the two skins provides the required space to accommodate the automated venetian blind system, as well as walkway gantries at each level of the building for access by cleaners and maintenance personnel. 1780 blinds were used in total http://www.architectus.com.au/sites/default/files/05_0.jpg The construction process took ten years to complete. Where normally one subcontractor works the building perimeter, Grocon had three to coordinate the faà §ade contractor, the waterproofers and the blinds contractor. GLASS TYPE Office buildings typically incorporate some form of tinted or reflective glazing in order to minimise the amount of direct sunlight and heat entering the building. The trade-off is a darkened or pearlescent finish that can visually isolate the occupants of the building from the natural environment and create unwanted reflectivity, particularly at night, when the inner glass can resemble a mirror. The Bligh Street glass, supplied by G. James, has a 62% Visual Light Transmission (VLT), compared to normal office glazing specifications of approximately 25 40%. In other words, onlookers will be struck by the crystal clear views into the building; meantime, the occupants will experience true-to-life panoramic views of the harbour and the citys genuine colours. This is because the sun protection is very efficient, and therefore non-tinted glass could be used on the outer skin. This makes the building extremely transparent and offers the user a different experience.   CONCLUSION In conclusion, it can be seen that building strategies such as the double faà §ade system, can be adapted to suit a specific climate while maintaining sufficient sustainability and economic properties. Similarly, glass as a building material can be used in many applications not only for aesthetic purposes but also for a thermal and sustainable strategy. 1 Bligh Street may be the beginning of an effective double glass faà §ade system which will be implemented on high-rise buildings throughout Australia.

Monday, August 19, 2019

Satire :: essays research papers

Country vs. Court There are many different ways to reveal one's perception of society. In art for instance, the reflection may be revealed in the form of a sculpture, a song or a picture. Satire is one the ways that the reaction or perception of life is expressed. People look at life from different stand points, as matter of fact, they naturally perceive it in numerous ways. As a result of the variety in perception, the way of revealing the effects or reflections of these perceptions also shows variety. In the satiric work of Jonathan Swift’s â€Å"Gulliver’s Travels† and George Orwell’s â€Å"Animal Farm† both authors make a distinction between country vs. court or in Orwell’s case, country (people) vs. government. Gulliver's first adventure takes place in Lilliput. Gulliver gets shipwrecked and finds himself tied down by a considerable number of little people called Lilliputians. The Lilliputians stood only six inches high. During this time Swift recognized that England was also small in stature but was dominant force and had a great influence in Europe. England, despite its small size, had the potential to defeat any nation that might try to conquer them. Swift relates this situation with the Lilliputians. They only stood six inches tall but had the power to take on the, "Man-Mountain", Gulliver. The ability of the Lilliputians to capture someone ten times their size can be seen as reinforcing their strength as a small nation, such as England. Thus becoming and remaining a great and powerful country. Swift further illustrates satire of the country vs. court distinction by comparing English government to Lilliput. In the early eighteenth century, the English government was under the Whig's political party. Swift represented himself as Gulliver as being a Tory, and the Lilliputians as being power-hungry Whigs. Their heels of their shoes identified these parties. In Lilliput the High-Heels represented the Tories and the Low-Heels represented the Whigs. George I favored the Whigs, so the Lilliputian emperor favored the Low-Heals. But the Prince of Whales favored both parties, and thus the Lilliputian heir to the throne wore one High-Heel and one Low. When Gulliver started learning about the Lilliputians government he noticed that their government officials were chosen by rope dancing. To Gulliver and the reader these practices seem ridiculous and idiotic, but to the Lilliputians they see these practices as normal. Swift uses this scene to satire the British government at this time.

Sunday, August 18, 2019

Candlelight Dreams :: essays research papers

My older friend next door once told me that if I shut my eyes and blew on a candle, all of my wishes would come true... I used to believe her and go around the house candle hunting. How my parents must have laughed to see me scrambling around the furniture, picking up the candles around the room , and blowing the little flame out until my cheeks hurt.   Ã‚  Ã‚  Ã‚  Ã‚  I made the most outrageous wishes. I wished to own a monkey, a horse, and a dragon; I wished to grow-up and be just like Sailor Moon. And, of course, I wished for a thousand more wishes so I would never run out.   Ã‚  Ã‚  Ã‚  Ã‚  I always believed my wishes would come true. When they didn’t, I ran next door and demanded and explanation. She laughed and said I just hadn’t done it right. â€Å"Hadn’t done it right?,† I would say. â€Å"Then how should I do it?† â€Å"It only works if you do it a certain way,† she told me with a little smile, â€Å"but you’ll have to figure that out by yourself.† I watched her with wide, admiring eyes and thought she must be right. She was ten years older than me and knew the ways of the world; nothing she said could be wrong. I went back and tried again. Time passed, and I grew older. My â€Å"perfect† friend started spending less and less time with me†¦.got busier and busier. Distressed by the scant attention I received from her, I spent most of my time staring out the window. I wondered what she was doing, where she was, and if she was having fun. Occasionally, I would wander around the home, blowing out a few candles, wishing for my friend to be how she used to be. Each time I hoped desperately that I had done it the right way and that the wish would come true. But it never happened. After a while, I gave up—not only on my friend—but on the candles as well. Distress had turned into anger and then to rejection of my friend and every thing she had told me. The old dreamer within me vanished and was replaced by a harsh teenage cynic who told me over and over that I should have known better than to believe in free wishes. It chided me for my past belief in dragons and laughed at the thought of my growing up to be a five foot ten, make-believe, Sailor Moon.