Cultural Influences Of A Brazilian Business Environment Essay

Economic development is defined by the ability to succeed internationally. It is important to understand the dynamic role that culture plays in this development as well as in a business setting. This can be done by realizing that every society has its own set of cultural themes or attributes. These themes have a substantial impact on how that culture does business. Upon doing business cross-culturally a strong management structure is essential. Cross-cultural management is the ability to have successful interactions between clients, customers, suppliers, etc. across cultures and around the world. This management style is important to understand because the work behaviors within this style directly affect the organizations’ successful international ventures and projects. This is why understanding organizational culture in Brazil is the main focus of being successful there. In the scope of my analysis for the cultural influences in a Brazilian business environment, it is important to keep in mind the major areas in which Brazil relies on for most of their business culture. Some of these attributes are building relationships, understanding the high power distance and high in-group collectivism, their values, their motivations, and how they would describe being satisfied with their jobs. First of all, in relation to building relationships, Nancy Adler (2008) talks about the heavy reliance on effective communication during business interactions in the bookShow MoreRelatedThe Cultural Differences Of Adidas1336 Words   |  6 PagesChina and to also build market share, several factors such as economic, fiscal, technological developments, legal and cultural requirements and the business environment are taken into account. In this section we will discuss about the cultural differences that Adidas has to consider to operate business in china moving from brazil. The chart below shows the comparison of the cultural dimensions according to Hofstede. Brazil to China: The Hofstede Dimensions of Culture PDI (Power Distance Index)Read MoreCultural Differences Between Brazil And Brazil Essay950 Words   |  4 Pagesdid the Portuguese influence Brazil about languages, but also religion. The Portuguese brought over their religion which was Roman Catholic. About 64% of the population ascribes to the Roman Catholic faith. Other religions in Brazil included: other Catholic religions, Protestant, Christians, Spiritism, and others. Only 8% of the population ascribe to no religion of any kind (Central Intelligence Agency, n.d.). Diversity Brazil has a rich culture with a unique blend of cultural variations. BrazilRead MoreCross Cultural Communication Essay1361 Words   |  6 Pagesincluding traditions, religion, language, behaviors, arts and everything that creates identity to a country. In such a globalized world, where in most organizations we have people from all over the world, it is very important to know about cross-cultural management in order to understand people’s behavior and needs in order to avoid problems and have a pleasant and successful workplace. My name is Mariana Martins and I am from Brazil. Below I will talk about two different countries besides BrazilRead MoreCorporate Social Responsibility And Csr1555 Words   |  7 PagesCorporate Social Responsibility (CSR) works in the Brazilian market. CSR is quite a recent theme in the world, and even more in Brazil. There is not an exclusive concept accepted when it comes to the definition of CSR, (Araujo, 2006; Oliveira Claro; Pimentel Claro; Lucci, 2009). According to Passador (2002), the first CSR concept in Brazil (between businesses, society and the State) emerged with the publication of the Brazilian Social Report by the Brazilian Institute of Social Analysis (IBASE). In 1998Read MoreBusiness Customs Paper - Brazil1716 Words   |  7 PagesInternational Business Business Customs Paper County: Brazil When conducting business in Brazil, there is a lot to know about how this country interprets gestures, how they perceive Americans and the best ways to conduct business that will impress them. There are some formalities and policies we may not be aware of in the US. They are important to know in order to conduct successful business in Brazil. Relationship building is key, along with formal attitude and attire and always showing professionalismRead MoreThe Amazing Success Of Starbucks1148 Words   |  5 Pagesin concern to ethical and cultural guidelines. Country and Company examples will be provided. Like the pros and cons of many traditional companies and markets becoming obsolete, constant economic flux, Structure, strategy, technological, cultural US companies are even branching out global. Expanding globally allows U.S. companies to expanding their business into different nations. Keeping in mind that different nations have different political, economic, and cultural insti tutions. Millions ofRead MoreEssay on International Commodity Flows and New Trade Network973 Words   |  4 Pagesnew trade networks feeding consumption have developed, influencing the way Africa integrates into the global economy. Dobler analyses different trade networks that link Oshikango, Nambibia to the world through four case studies on Scotch whisky, Brazilian furniture, Japanese used cars and Chinese sneakers commodities. Through the case studies, he exemplifies how there has been a shift from old colonial domination of trade to new manufacturing countries or trade routes, as well as the essential roleRead MoreBrazil Geography and Culture1542 Words   |  7 Pagesover one million residents. Three important cities in Brazil including Sà £o Paulo, Rio de Janeiro, and Salvador. Brazil is a diverse country with ethnic groups including: 54% European, 39% mixed European-African, 6% Africa, 1% other. The physical environment in each region determined the types of crops grown or the resources extracted and this, in turn, influenced the populations that settled there and the social and economic systems that developed. Brazil s economic history, in fact, has been markedRead MoreCultural Awareness Of Brazil, Unity Among Chaos. Introduction.1579 Words   |  7 PagesCultural Awareness of Brazil, Unity Among Chaos Introduction Every country in the world has its own challenges based on its location, economy and social make up. Brazil is no exception, but its response to these challenges makes it unique. The vast scope of Brazils varying demographics, leadership, economics and geography makes it a melting pot of diversity and the people of Brazil have embraced it. Their intention of distinguishing themselves from the rest of Latin America has proven to be aRead MoreBrazil s Global Knowledge And Communication Has Affected The Country Over The Years Essay1701 Words   |  7 Pagesfinancial growth over the past decade. The Brazilian government has demonstrated a commitment to pro-business policies and taken advantage of the fact that their government can act swiftly on behalf of their financial well being, while so many other developed nations find themselves stuck in a political bureaucracy. The global economy has taken an interest is Brazil which is why the country is consistently ranked in the top 20 em erging markets by world renowned business publications over the years (need citation)

Similarities Between Descartes And Hume - 1627 Words

Two famous philosophers came up with different approaches on how we gain our knowledge. Renee Descartes is often known as the father of modern philosophy. He was also a mathematician and scientist. He developed the coordinate system, explained blood circulation and rainbows. He also discovered how the earth orbits the sun. He is a rationalist about knowledge. (Pismenny, 2016) This means that he believes we can gain knowledge through our minds. He argues that you do not need to have experience of something to know it. David Hume, another philosopher, is an empiricist, so he disagrees with Descartes and believes that experience is the only way to gain knowledge. (Hume, 1910) Hume is a Scottish philosopher, historian, economist and essayist. He is also a skeptic and naturalist. (Pismenny, 2016) When it comes to knowledge, Descartes and Hume both have very different approaches, but it can be argued that Hume has the better approach. Descartes is a rationalist about knowledge, so that means he believes that it is possible to gain knowledge through our mind and that we have the ability to know things that we have never seen or experienced before.(Descartes, 1641) He believes that everyone is born with the inherent ability to know two things; mathematics and God. He argues that we have the ability to infer mathematic skills from our minds. (Pismenny, 2016) He also says that we are born with the idea of God and religion already in our minds and that God is responsible forShow MoreRelatedDavid Hume s Bundle 1041 Words   |  5 PagesHume’s ‘bundle’ (written as a reply to Descartes) The silhouette of a subject was drawn by a council of moments and David Hume named it an illusion, humanity named it the self. In the modern ages of philosophy while Rene Descartes’ affect still remains eminent, David Hume comes with an argument which kills the I Descartes created and lets it fly as a ghost in human perception. Not only in the case of the subject, the contrast between Hume’s and Descartes’ ideas can be seen in their search for aRead MoreSelf-Identity Qualities1010 Words   |  4 Pagessame as Y so long as X possesses the same soul, body and consciousness as Y. Descartes theory of dualism supposes that there are two fundamental substances. The body is an example of a material substance, as it can be defined by its dimension, shape, movement, and other extensions. However, an immaterial substance like the mind cannot be defined by such concepts, nor can it be interpreted from sensory data. Descartes argues that the mind is the soul, as it cannot be altered by physiological meansRead MorePhilosophy C100 Quiz 121572 Words   |  7 Pageslistening closely to the teachings of the Delphic Oracle. | 20.   For Aristotle, a marble statue is a combination of   X | matter and form. |    | act and potency. |    | essence and form. |    | All of the above. | 21.   In pointing out some similarities between the early Greek metaphysicians, Aristotle pointed out that they were all concerned with    X | causation. |    | the certitude of sense perception. |    | the impossibility of true knowledge. |    | the Theory of the Forms. | 22.   A ________________Read MoreComparing Philosophers Locke And Hume On Personal Identity1375 Words   |  6 Pages Garrett Intro to Philosophy Dr. Christian University of West Georgia 31 March, 2016 Compare Philosophers Locke and Hume on Personal Identity Introduction The question on personal identity has been a philosophical debate for a long time. Philosophers over time have tried to argue what being a person that one is, from one day to the necessarily contains. In their endless search for philosophical bases on the same, multiple questions on the issues of life and death arise such that the correct answersRead MoreHistory of Modern Psychology Essay754 Words   |  4 Pagesat the present time. Many philosophers can be credited to the development of this science. Starting in the early 18th and 19th centuries philosophers such as Rene’ Descartes and John Locke opened the world of what we know as psychology today. The British empiricists also contributed to psychology. Some of these men include David Hume and David Hartley. Psychology has a long past, yet its real history is short. –Hermann Ebbinghaus 1908 Key Issues in Psychology’s History A psychologist/historianRead MoreDoes God Exist?1074 Words   |  5 PagesAnselm, Descartes, Leibniz and Platinga who are all rationalists. The design argument is rooted in empiricism and proposes that all matters of fact to be discussed based on experiment and observation (much in the same way as science). It uses observation of our world, complex interaction of forces of nature and the scientific laws governing them, to propose that this world is like a complex machine and hence must have a designer. This designer is God and hence it proposes that god exists. Hume, PaleyRead MoreEssay about Descartes vs. Spinoza1588 Words   |  7 Pages Evaluation Comparison Between Descartes and Spinoza About The Paper: What I will do in this following paper is to discuss two very interesting philosophers, Rene Descartes and Benedictus de Spinoza. I will discuss each philosopher’s perspectives and insights on their most recognized theories and thoughts. I will then evaluate them and then give my opinion on the given topic. By doing this, I will contrast the similarities and differences between the two genius minds. ByRead MoreModern Psychology : The Scientific Study Of Mind And Behaviour1637 Words   |  7 Pagesthat ultimately allowed for the transformation of an ancient discipline into the scientific study of the mind. It was 1879 before psychology officially became a science. Previously philosophers endeavoured to understand human nature and the links between the body and the mind - formerly referred to as the soul. In fact, the main concerns of today s psychology, reflect themes that intrigued humanity for thousands of years. â€Å"Psychology has a long past but a short history† (Ebbinghaus, 1908). ThereforeRead MoreThe Argument For The Existence Of God1411 Words   |  6 PagesThe teleological argument expressed unsupported inferences from similarities of experiential remark and materialists supplied other possibilities that are reasonably legal. The cosmological argument failed as well since it not once understandably argued the making of the universe. There are many amazing individuals who’ve consumed an immense sum of time in studying the Bible. Brilliant philosophers like Plato, Paley, Socrates, Descartes, Aristotle, have made arguments whether god truly exists. We mustRead MoreComparing Hegel, Marx, Kants Views on Pantheism Essay978 Words   |  4 PagesGod and the Human soul. God is everlasting and unchangeing he is also perfvect, the human soul is distinctly human, it is changeable. What can possibly make it so that these to can communccre? Well the anseww is Jesus Christ, he was the synthesis between God and humans, being that Jesus was both God and man at the same time. So we are all moving towards a specific goal, and the ore we learn the closer we get and eventually we will arrive, once we have learned enough we will come to the realization

PCB Pollution Essay Example For Students

PCB Pollution Essay The Hudson River is a body of water that stretches for 315 miles from theAdirondack Mountains to the Battery in Manhattan, reaching its deepest point of216 feet in the Highlands near Constitution Island and West Point and reachesits widest point of 3 miles across at Havestraw. This river is one of the mostbeautiful and scenic of the Tri-State area. Unfortunately, it happens to be NewYorks most polluted river. The river has been influenced upon since the early1600s, when Englishman Henry Hudson commanded the Dutch ship Half Moon on anexploration of the river, certain that he had discovered a trade route to China. It soon dawned that this was no Atlantic-to-Pacific passage but an Edenlikeplace of awesome potential-a river valley teeming with prospect and spirit thatwas worth fighting for. In the centuries that followed, the fight for the riverand its commerce never stopped, and still continues to the present. Then duringthe Industrial Revolution, with the advent of hulking manufacturing plants onthe riverbanks, everything changed. The river became a sewer, cut off from thepeople around it by the electrification of the railroads. The 1825 completion ofthe Erie Canal instantly opened trade to the Midwest by linking Troy to Buffaloand established the Hudson River as the major commerce channel for New YorkCity. Tycoons transformed the landscape in New York and across the country withthe railroad, and the Hudson River valley became a hotbed for iron mining,limestone quarrying and clear-cutting. Toward the 19th century, when dynamiteblasting was reducing the face of the Palisades to rubble, conserva tionistsbecame alarmed that something was being lost to progress. In 1900, New York andNew Jersey established the Palisades Interstate Park Commission to preserve thecliffs from further quarrying. Although conservation efforts continued into the20th century, there was no progress to protect the Hudson River and its banksfrom industrial pollution. Some of the largest factories in the nation startedproduction on the Hudson River, including Anaconda Wire and Cable inHastings-on-Hudson and GM in the present day Sleepy Hallow, discharging wasteinto the river. There are numerous known contaminated sites around the U.S. Among the most dangerous of these, and of particular concern to residents of theHudson Valley, are the forty hot spots in the Hudson River resulting fromthe dumping and leakage from General Electric plants at Fort Edward and HudsonFalls. From 1947 to 1977, these two plants legally discharged from 500,000 to1.5 million pounds of PCBs into the Hudson, and unknowingly saturated thebedrock beneath both sites with at least that much again. There are PCBs inHudson River water, biota, and sediment from Hudson Falls to New York City 200miles that comprise the nations largest Superfund site. Pure PCBs are oozing outof the bedrock to this day, constantly recontaminating the river and over300,000 pounds remain concentrated in bottom sediments of the river today. Thespread of PCBs throughout the Hudson River and the food chain, which itsupports, has created one of the most extensive hazardous waste problems in thenation. Polychlorinated biphenyls (PCBs) are a group of synthetic oil-likechemical s (therefore insoluble in water) of the organochlorine family. Untiltheir toxic nature was recognized and their use was banned in the 1970s, theywere widely used as insulation in electrical equipment, particularlytransformers. Reputable chemists have since concluded, it was probably amistake ever to make or use PCBs. These are serious poisons, which have beenshown to cause damage to the reproductive, neurological and immune systems ofwildlife and humans and are known to cause cancer. Exposure has also been linkedto behavioral damage. Specifically, because PCBs in the body mimic estrogen,women of childbearing age and their infants are particularly susceptible to avariety of development and reproductive disorders. Once in the body, thesecompounds do one of two things: they block the normal passage of hormones intotheir receptors, or, mimic the hormone itself and enter the receptor in lieu ofthe hormone. By doing so can irrevocably alter and damage the development of theorganism. Small amounts of PCBs are taken up by microscopic organisms in theriverbed and passed up through the food chain. PCBs accumulate inmicroorganisms, which are eaten by small fish, which are eaten by big fish,which are eaten by bigger fish still, and so on up the food chain. The processby which PCBs concentrate at higher and higher levels up the food chain iscalled biomagnification, or bioaccumulation. Once bottom-dwelling organismsabsorb the material, PCBs are not readily excreted and remain, inever-increasing concentration, lodged in the fatty body tissues of fish as theygrow, as for humans they persist at elevated levels within the bloodstream,allowing for continuous internal exposure. As one consequence, a once-thrivingcommercial fishing industry in the Hudson Valley, earning about $40 millionannually is now all but dead. Almost all of the river-dwelling fish aremigratory, and the effects are such that the NYS Dept. of Health has issued anadvisory telling people to severely limit their consumption, even of fish caughtrecreationally in the Hudson. Women of childbearing age and children underfifteen are advised to eat none at all. All other individuals are advised to eatno more than one meal per week of many species (like yellow perch) and no morethan one meal per month of others (like striped bass). Although humans can beexposed to PCBs in a variety of ways, eating contaminated fish is by far themost potent route of human exposure, with exposure levels of about 4,000 timesgreater than from breathing (contaminated air) or drinking (contaminated water). .u430957a696dd413315708dd49381a5f7 , .u430957a696dd413315708dd49381a5f7 .postImageUrl , .u430957a696dd413315708dd49381a5f7 .centered-text-area { min-height: 80px; position: relative; } .u430957a696dd413315708dd49381a5f7 , .u430957a696dd413315708dd49381a5f7:hover , .u430957a696dd413315708dd49381a5f7:visited , .u430957a696dd413315708dd49381a5f7:active { border:0!important; } .u430957a696dd413315708dd49381a5f7 .clearfix:after { content: ""; display: table; clear: both; } .u430957a696dd413315708dd49381a5f7 { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .u430957a696dd413315708dd49381a5f7:active , .u430957a696dd413315708dd49381a5f7:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .u430957a696dd413315708dd49381a5f7 .centered-text-area { width: 100%; position: relative ; } .u430957a696dd413315708dd49381a5f7 .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .u430957a696dd413315708dd49381a5f7 .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .u430957a696dd413315708dd49381a5f7 .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .u430957a696dd413315708dd49381a5f7:hover .ctaButton { background-color: #34495E!important; } .u430957a696dd413315708dd49381a5f7 .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .u430957a696dd413315708dd49381a5f7 .u430957a696dd413315708dd49381a5f7-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .u430957a696dd413315708dd49381a5f7:after { content: ""; display: block; clear: both; } READ: Analysis On The Impact Of Frankenstein Family And EssayDespite commercial fishery closures and recreational fishery health advisories,exposure to PCB-contaminated Hudson River fish continues to occur! The primarydistribution of health advisories in NYS is through publication in recreationalfishing licenses. However, because licenses are not required on the main stem ofthe Hudson or in the marine waters, many recreational anglers never receivehealth advisories. As long as PCBs remain in the river, the danger of exposurewill remain as well. Removing contaminated sediments from the river is thesurest way to reduce PCB levels in fish, and in the people who eat Hudson Riverfish . The NYS DEC is investigating a long-term solution to PCB-contamination atGEs facilities in Hudson Falls and Fort Edward. This will include stoppingongoing migration of PCBs to the Hudson River and remediating both upland sites. At the same time, EPA continues to conduct a Superfund Reassessment ofPCB-contaminated sediments. The culmination of this process will result in aRecord of Decision, which may recommend dredging contaminated sediments fortreatment and destruction. Advanced dredging techniques exist which could removethe contaminated material with minimal dispersal of material into thesurrounding water. This has been successfully demonstrated in cleanups aroundthe country. Deposited onshore in a prepared location, the material could thenbe concentrated and treated biochemically of preferably thermochemically undercontrolled conditions to break down the PCB molecules into hazardous residues. These are established, proven technologies. Another technique of removal wouldbe the usage of a cutterhead suction dredge. This will limit the resuspention ofcontaminated sediments within the water column by combining the action of arotating cutter with hydraulic suction. This has been shown to have a moreeffective and efficient design than other dredging equipment, with the mostoperational flexibility and the best maneuverability near shorelines. A totalproject cost of $280 million has been estimated. This is less than one percentof GEs annual revenues! PCBs will not be removed from the Hudson Riverwithout two things: political will and money. There is a strong need for furtherresearch of these techniques as well as its effects on the environment withinand around it. We can help by writing to the state legislatures or senators,EPA, or, NYS DEC urging them to: Order prompt and comprehensive cleanup of PCBsfrom the riverbed Use safe, effective and commercially available technologies t opermanently destroy PCBs once they are dredged Require GE (the companyresponsible for the contamination) to pay for a full cleanup. With the help andaction of non-profit organizations, environmental groups, as well as the humanpopulation, there is hope to defend the river and its once awesome awe renewed. I grew up and lived on the river all my life and it makes me sick to know thatthis happened, because it affects relatives, friends and myself. I am part ofsome of the organizations listed in the bibliography and continue to do my fairshare of letter writing to save the most serene place in my life, my home theriver!BibliographyLaws, Edward A. Aquatic Pollution. 2nd edition. New York: John Wiley andSons, Inc. 1993. Pg. 301-305. Adams, Aurthur G. The Hudson Through the Years. New Jersey: Lind Publications, 1983. The Hudson: A Guide to the River. Albany:State University of New York Press, 1981. Barnthouse, Lawrence W. Science, Law,and the Hudson River

Violence Against Women Act Essays - Commerce Clause,

Violence Against Women Act The Violence Against Women Act creates a right to be "free from crimes of violence" that are gender motivated. It also gives a private civil right of action to the victims of these crimes. The Senate report attached to the act states that "Gender based crimes and fear of gender based crimes...reduces employment opportunities and consumer spending affecting interstate commerce." Sara Benenson has been abused by her husband, Andrew Benenson, since 1978. Because of this abuse, she sued her husband under various tort claims and violations under the Violence Against Women Act. Now Mr. Benenson is protesting the constitutionality of this act claiming that Congress has no right to pass a law that legislates for the common welfare. However, Congress has a clear Constitutional right to regulate interstate commerce. This act is based solely on interstate commerce and is thereforeConstitutional. Because of abuse, Sara Benenson was afraid to get a job because it would anger her husband. She was afraid to go back to school and she was afraid to go shopping or spend any money on her own. All three of these things clearly interfere and affect interstate commerce. Women like Mrs. Benenson are the reason the act was passed. There has been a long history of judgements in favor of Congress's power to legislate using the commerce clause as a justification. For the past fifty years, Congress's right to interpret the commerce clause has been unchallenged by the Court with few exceptions. There is no rational reason for this court to go against the powerful precedents set by the Supreme court to allow Congress to use the Commerce clause. In the case of Katzenbach v. McClung, the Court upheld an act of Congress which was based on the commerce clause, that prohibited segregation. McClung, the owner of a barbeque that would not allow blacks to eat inside the restaurant, claimed that his business was completely intrastate. He stated that his business had little or no out of state business and was therefore not subject to the act passed by Congress because it could not legislate intrastate commerce. The Court however, decided that because the restaurant received some of it's food from out of state that it was involved in interstate commerce. The same logic should be applied in this case. Even though Sara Benenson's inability to work might not seem to affect interstate commerce, it will in some way as with McClung, thus making the act constitutional. The Supreme Court had decided that any connection with interstate commerce,as long as it has a rational basis, makes it possible for Congress to legislate it. In the United States v. Lopez decision, The Supreme Court struck down the Gun Free School Zones Act. It's reasoning was that Congress had overstepped it's power to legislate interstate commerce. The Court decided that this act was not sufficiently grounded in interstate commerce for Congress to be allowed to pass it. The circumstances in this case are entirely different than in the case of Sara Benenson. For one thing, the Gun Free School Zones Act was not nearly as well based in the commerce clause as is our case. The Gun act said that violence in schools kept student from learning and therefore limited their future earning power. It also said that violence affected national insurance companies. These connections are tenuous at best and generally too long term to be considered. However, in the case of Mrs. Benenson, her inability to work and spend directly and immediately affected interstate commerce. Therefore, the Lopez decision should not have any part in the decision of this case. The Supreme Court, in McCulloch v. Maryland, gave Congress the right to make laws that are out of their strict Constitutional powers so as to be able to fulfill one of their Constitutional duties. In this case, the Court allowed the federal government to create a bank. There is no Constitutional right to do this and Maryland challenged the creation of this bank. The high court ruled that in order for Congress to be able to accomplish it's duties. The same logic should be applied here. The Violence Against Women Act is an example of Congress overstepping it's direct

Abroad and Overseas

Abroad and Overseas Abroad and Overseas Abroad and Overseas By Maeve Maddox Lucia Waterman asks: What is the difference between abroad and overseas? When use it? As adverbs meaning out of ones own country, abroad and overseas are used interchangeably, as can be seen in these headlines and the text that follows them: Renewable energy money still going abroad, despite criticism from Congress Money from the 2009 stimulus bill to help support the renewable energy industry continues to flow overseas†¦ Lawyer Barred from Going Abroad Authorities ban a Chinese rights lawyer from traveling overseas. Overseas and abroad can also be used as adjectives, but overseas is used before a noun, while abroad always comes after the word it describes. In an increasingly global economy, overseas employment is becoming a realistic alternative for many people. Thin U.S. job market translates study abroad into work abroad Heres a headline that manages to use both overseas and abroad as adjectives to describe the same noun: Overseas Jobs Abroad, International Jobs in Caribbean Cayman Islands As adverbs, overseas and abroad are not always interchangeable. Travelers from the United States to Canada or Mexico can be said to be going abroad, but it would make little sense to say that they are going overseas. Want to improve your English in five minutes a day? Get a subscription and start receiving our writing tips and exercises daily! Keep learning! Browse the Vocabulary category, check our popular posts, or choose a related post below:Regarding Re:Five Spelling Rules for "Silent Final E"Phrasal Verbs and Phrasal Nouns

5 Animals That Inspire Canine Connotations

5 Animals That Inspire Canine Connotations 5 Animals That Inspire Canine Connotations 5 Animals That Inspire Canine Connotations By Mark Nichol The characteristics of canids have long been applied to characterize humans, as this discussion of words and expressions based on the names of various canine species demonstrates. 1. Coyote A slang term for a person who guides illegal immigrants into the United States (usually from Mexico), rather than a term based on behavior, coyote nevertheless suggests at best a person who profits from the desperation of others and at worst cheats or misleads his or her clients or endangers their lives. 2. Dog Dog is an insult comparing a person to the animal in terms of its worst characteristics, such as laziness or groveling, though it may also indicate (perhaps grudging) admiration, as in the statement â€Å"You lucky dog.† To go to the dogs is to decline in health or condition; to hot-dog is to show off. Somebody who puts on the dog affects stylishness or sophistication. Dogged describes stubborn determination, but dog-eat-dog behavior is treacherous behavior, suggesting the members of a pack of dogs turning on each other. Hound, a term for a particular class of dog bred for hunting, is sometimes used to label an unpleasant person, although the term may also apply to someone who doggedly pursues something, as in chowhound for a person avid about eating. 3. Fox Foxy enjoyed a brief heyday as an adjective to describe sexual attractiveness, but it has had a much longer tradition in the sense of â€Å"cunning, crafty.† To say that someone is crazy like a fox, meanwhile, means that the person is craftily feigning insanity to some end. 4. Jackal Someone who serves another menially or to unsavory ends, or abases oneself, is sometimes referred to as a jackal. 5. Wolf Lecherous or sexually aggressive behavior in men is often compared to the predatory nature of a wolf. Want to improve your English in five minutes a day? Get a subscription and start receiving our writing tips and exercises daily! Keep learning! Browse the Vocabulary category, check our popular posts, or choose a related post below:What Is Irony? (With Examples)List of 50 Great Word Games for Kids and Adults"Wracking" or "Racking" Your Brain?

Case study Essay Example | Topics and Well Written Essays - 2000 words - 2

Case study - Essay Example On this end, much depends on how Maersk Line implements business strategy that would ensure efficient use of resources at their disposal to effect a sustainable change (Ferrulli 2005, p.26). The new business model that Maersk Line intends to implement is appropriate in terms of the company’s position as a leader in the shipping business. Compared to competitors, Maersk Line is in ideal position to capitalize on its stature as a world leader in container shipping to increase its clientele. In addition, the company deals in the shipment of various goods and this provides a competitive edge compared to other companies that specializes in the shipment of goods from one line. The company also boasts of an edge over competitors in regard to its extensive network globally and essential in improving the company’s sales across the globe. In terms of modernization, the company boasts of modern vessels compared to competitor’s vessels and this is important in enhancing the shipment of sensitive cargo. The strategy of focusing on long term contracts is essential in terms of maintaining a significant number of clients that deals in large shipment globally such as Nike and Walmart. The existence of extra add-value services as offered by Maersk Line is very essential in terms enhancing customer satisfaction, often disappointed with delays in the delivery of goods. In this sense, despite Maersk Line improving its competitiveness in container shipping, the challenges that still exist in the container shipping business require the company to adopt other business strategies significant in resolving the identified challenges (Slack & Fremont 2009, p.23). Differentiation as a business strategy is important in terms of improving a company’s advantage over competitors in the same line of business. This is important in attracting and maintaining previous customers or clients that a company serves, and the main features of differentiating involves reviewing a company’s available human skill, the techniques used to provide services to customers and brand name incapable of duplication by competitors, without incurring extra costs and risks. In addition, differentiation as a strategy entails setting out predetermined measures ideal in producing or delivering services to customers in a way that customers view as different (Slack & Fremont 2009, p.26). As a result, the strategies that Maersk Line intends to implement should target unique needs of the customers and in a way that provides Maersk Line a competitive edge. The current trend in container shipping business is hyper-competitive and adopting a formidable business strategy in terms of differentiation is necessary. Companies often compete by either adopting a low price strategy or implementing an efficient differentiation strategy that improves sales. In essence, differentiation as a marketing tool is important for any company’s survival in a competitive global market. W hile Maersk Line intends to address the challenges, it has identified in the container shipping industry to improve its competitiveness, it is also important to look at issues such as performance gap, as felt by customers in the

Choose a company or organisation. Suggest an additional green product Essay

Choose a company or organisation. Suggest an additional green product or service it could offer in the market - Essay Example Although we may not recall, reusable diapers with their security pins and artificial wrappings kept numerous of us dry as babies. Today, throwaway diapers have become the standard mostly due to their convenience. However, much has altered in latest years and there are numerous causes for holding our natural environment. The days of being restricted to disposable diapers and plastic diapers should be gone. Many parents who are focused on eco friendliness have found the expediency of disposables hard to give up. In detail, the diaper argument can get a bit confusing. Proponents of disposable diapers contend that eco friendly diapers or cloth diapers need time, water, electrical power, and petrol for consignment and washing. However, it is significant to recall that if the output method for organic piece of cloth diapers is much friendlier on the soil than the method for disposables. Washing piece of cloth diapers does take electrical power and water but if you integrate them into your laundry usual and restrict many of additional burdens, the added influence can be reduce. Organic Diapers are free of chemicals; organic cotton fabric diapers bypass the use of chemicals and thus are much device for your babys skin at a time when your babys skin is very weak. In compare, not reusable diapers use several chemicals, which are either for aesthetics or soaking up power. One demonstration is sodium polyacrylate which is utilized in diapers to make them permeable. Sodium polyacrylate can soak up as much as 400 to 800 times its group in water which makes it one of the most significant components of a throwaway diapers. However, sodium polyacrylate has been discovered to origin allergies in offspring amidst other troubles. Throwaway diapers may furthermore comprise find allowances of dioxin which is a side-effect of the bleached paper used (Brody

United States Dominance After Civil War Essay Example for Free

United States Dominance After Civil War Essay The American Civil War, also known as the â€Å"War Between the States† was a war between the Confederate States and the Union. The Confederacy was composed of eleven states which supported slavery, while the Union was comprised of all free American states and five states bordering the slave states. The American Civil War became one of the most important events that led into the emergence of the United States into world dominance. The development of the American nation as a world leader came after a series of events and wars being won. The Civil War all throughout was highlighted by the intense social, political and economic conflicts and differences between Northern and Southern States. The war commenced in about 10,000 states and more than 3 million American people have been involved in it. The years between 1861 to 1865, the war has escalated between American states and resulted to the destruction of peace and unity among fellow Americans. The war made the American nation ironically more oblivious to the concept of freedom and individual rights, given that the civil war was fought on the basis state rights and freedom in America. However, by the end of the Civil War, the American nation took the whole experience as a â€Å"new birth of freedom† for the people and the government. And as such, the years following the end of the Civil War marked the start of the American dominance in the international community. America After the Civil War: Unification, Expansion and Industrialization Despite the destruction, the death toll, and the chaos that the Civil War has drawn upon the American society, nonetheless, it has become as one of the focal points for world domination for the United States. The separate states which used to be hostile to one another due to their differences, became a single united and strong nation The end of the war marked the new era of expansionism for the United States of America. Indeed, the start of the 19th century was highlighted by the intensifying of the American expansion. Alongside America’s move to industrialize and urbanize its territory, the American exploration pushed further to the west. In 1803, Louisiana was obtained from the French government; and during the period between 1816 to 1821, a total of six states were added to the American territory. Aside from the westward expansion, in 1865 the American government also took control of eastern states. This westward and eastward expansion of the United States territory became strategically beneficial to the industrialization in the United States. And as such, the strength of the United States industrialization became one of the strongest points of the United States emergence as a world superpower. Although the industrialization in the United States before the Civil War was largely preempted and minimal due to the political and social conflicts of the time, the end of the war and the emergence of the new American society greatly hastened the industrial development in the United States. And despite the fact that industrialization has been an old trend in other advanced countries such as England, Belgium, France, Germany and Japan, the United States transformation was more profound, developed and powerful. In addition to United States’ more sophisticated and impressive industrialization, the American government was able to carefully and strategically utilize its unique advantage over its colonies and among those less developed and powerful countries. The American government used its sphere of influence in order to drive economic advantages and power towards them. Moreover, the United States territory, given the vastness of its newly acquired areas and colonies were greatly endowed with raw natural resources that once tapped, can be used to generate a large amount of benefits and profits. The states acquired by the United States became its focal points of industrialization, modernization and development. Some of these states served as main centers for finance, manufacturing and commerce. Other states were also suitable for agricultural growth and revolution in the transportation sector. In addition to these developments, the wave of immigrants between 1840 to 1860 also strengthened manpower stability in the country. As such, by the end of this period of expansionism and industrialization, the United States emerged as one of the most successful countries in the world. The American government grew extremely confident of the stability of their economic, political and military strength. In addition, the wide sphere of influence that it was able to establish became one of the assets that qualified United States as one of the strongest country in the world. Threats to American Power and Leadership A series of American war involvement has been etched in the world’s history. And as such, each war wherein the American nation has took part in signified a threat against the United States’ dominance. The First and Second World War, though commenced between a large gap that went for years were fought on almost same reasons. Economic imperialism, military conflicts, trade barriers, proliferation of weapons, political rivalries and balance of power were among the main cause of the first and second world wars. During these wars, the world was divided into two spheres. And of which, both wars were won distinctively by the side that the United States has taken. The victorious emergence of the United States and its allies in these wars has further established its government as one of the strongest leaders in the world. During the Second World War in particular, the victory of the United States, the Soviet Union and their allies became the closest call to the American dominance. At the end of the Second World War, the United States and the Soviet Union emerged as two world leaders, and as such, became the pillars for balance of power. The end of the Second World War and the emergence of two dominant states resulted to another series of conflicts and hostility. After the Second World War, the Cold War commenced and a series of indirect confrontations took place between the United States and the Soviet bloc. The Cold War served as a proxy war between the two states wherein instead of a direct confrontation, their allies became more involved in the war. The Cold War became the measure of stability, leadership and influence of the two world superpowers. Political ideology became the main focus of the rivalry between the United States and the Soviet bloc. During this period, the American government was largely threatened by the spread of communist ideology within the European states. As such, the antagonism between capitalism and communism became the root of the conflict between the two states. In addition to this antagonism, nuclear arms race, espionage, economic rivalry and the Cuban missile crisis were among the issues that further intensified the conflict. Despite the absence of direct confrontation between the Americans and the Soviet bloc, the outcome of the Cold War still became one of the most important factor in the emergence of a lone world superpower. As such, by the end of the Cold War, the Soviet bloc disintegrated and the communist ideology became less influential. Although the American government and its allies were not successful in fully containing the communist ideology, the Soviet disintegration became a step to weaken communist states. In addition, the disintegration of the Soviet bloc marked the end of the Cold War. And the triumphant emergence of the United States in the Cold War automatically rendered the United States as the lone world superpower. United States in the Present Era Following the end of the Cold War and the demise of the biggest threat to United States leadership, the American government is now considered as the lone hegemonic power in the world. The establishment of international organizations such as the United Nations, World Bank, International Monetary Fund and the World Trade Center to name a few, strengthened the American hold on world dominance and leadership. In the present generation, the most probable threat against the American government is the current proliferation of terrorist organizations posting terrorist activities that might induce chaos and fear amongst the citizens. However, despite these threats and current economic and political dilemma experienced by the American nation, United States still stands as one of the strongest, influential and stable countries in the international community. Bibliography AE Television Networks. â€Å"The American Civil War.† History.com. (2008). Database on-line. Available from http://www.history.com/minisites/civilwar/ (accessed October 10, 2008). American Information Resource Center. â€Å"History of the United States.† The United States Diplomatic Mission to Poland. (n.d). Database on-line. Available from http://www.usinfo.pl/aboutusa/history/slavery.htm (accessed October 10, 2008). Burns, Ken. â€Å"The Crossroads of Our Being.† The Civil War. (2002). Database on-line. Available from http://www.pbs.org/civilwar/war/ (accessed October 10, 2008). Mabry, Donald J. â€Å"Triumph of Industry in the United States.† Historical Text Archive. (2008). Database on-line. Available from http://historicaltextarchive.com/sections.php?op=viewarticleartid=597 (accessed October 10, 2008). Nosotro, Rit. â€Å"The Cold War.† HyperHistory. (n.d). Database on-line. Available from http://www.hyperhistory.net/apwh/essays/big/w30coldwar.htm (accessed October 10, 2008).

She Held The Piece Of Paper And Looked At Me :: essays research papers

Jackie stared at the piece of paper with trembling hands and then back at me, her eyes danced uncontrollably with joy. Elated, she held onto the letter tenaciously and ran around the room in a frenzied madness. "Grandfather Morgan, is dead!" she proclaimed, her pale arms gesticulated wildly as she re-read short extracts from my grandfather's lawyer's letter in her formal tone, which was occasionally punctuated by short bursts of laughter. "He's dead," together, we proclaimed again and again in jubilation. Dressed in a somber suit to disguise our euphoric hearts, Jackie and I rushed to grandfather's opulent mansion, which was perched on the outskirts of Nome, a small district with big people. We entered the mansion only to be welcomed by wailing relatives who had suddenly remembered grandfather only after he had passed on. After a short sermon we gathered around the teak coffin to say our final farewells to Morgan. Eventually, Jackie strolled towards the coffin, bent down and kissed grandfather's ashen cheeks and hissed into his ears, "So glad you finally decided to die, old man, and you had better left me something worthwhile," Finally, we entered a glumly lit room filled with excited chatter. Obviously, they were all vying for Morgan's coveted treasures. This was the moment we were all eagerly awaiting; the will was going to be read .A scrawny lawyer hobbled into the room, sat on the leather sofa and loosened his strangling tie. Clearing his throat he fumbled for his reading glasses as he peered at us through his milky green eyes. Flashing a conspitoral smile, he started to read Morgan's will in a hoarse voice. After rambling on and on about what other relatives were to be given, he finally reached Jackie's name. " Lastly, to my loving granddaughter, Jacqueline, the one whom I had always doted upon, will be given the family heirloom." "What?" Jackie screeched in utter dismay. Immediately, she sprang up and rushed towards the will. Grabbing the yellowed paper from the bedlam lawyer, Jackie read the will again. Shaking her curly locks in disbelief she wailed, "It cannot be, I served him for so long and I end up with a worthless piece of junk." " Madam, you must understand that your grandfather's ring was worth much more to him than just money itself, he would expected you of all people to understand this, "the lawyer meekly retorted.

‘Originally’ By Carol Ann Duffy Essay

Our Life is one long Journey, with good as well as bad times in it. From childhood to old age, we strive forever to experience and learn, often positive as well as negative turns in life often bringing upon one a lot of change. In the poem ‘originally’ by Carol Ann Duffy, one reads about a seemingly sudden change in a Childs life, where one is confronted with leaving their home, their country, to live somewhere else unknown. In ‘Originally’, which is divided into three parts, one follows the experiences of a speaker, who seems to have been forced to leave his or hers home, change and crisis being endured, and how the speaker in the end effect, slowly, adapts. The Poem though seemingly talks about this child leaving its home and changing, the Poem also shows how People all there lives change, starting by growing up to become a teenager, then to an adult and in the end to an aged person. The Poem starts of with a type of introduction; it begins the Poem by setting up a mood, by explaining how she moved with her family. The speakers love for her homeland is exemplified by using domineering words such as ‘own’, which makes it seem as something unique, and also by telling the reader that her brothers were ‘bawling’ the word ‘home.’ A combination of alliteration and imagery in the first line â€Å"red room† and â€Å"fell through the fields† also helps emphasize this. All of these rather unsympathetic words encourage a development of a depression throughout the Poem. The personification of the ‘miles (which ran) back to the city†¦Ã¢â‚¬â„¢ seems to indicate how, while being on this train, makes the child feel worse and worse knowing its becoming more distant from its homeland, and this reflecting that the land is passing so quickly it seems to be running away past. The whole stanza mainly concentrates on the child and its family, except for the last line, this sudden change also brings up strong emotions because from one image of leaving the place you have always known to be your home, one suddenly notices how scared this child must me when the speaker says that it ‘stared/at the eyes of a blind toy, holding its paw’ it shows how terrified it feels and how it only has her old trustworthy bear with her to help her. The Bear being blind seems symbolic, suggesting that the speaker does not know what will become of its family in their new home, and much like an old toy is often blind because it has lost its eyes over the years. In the second stanza one learns about the problem the person had to go through once it had arrived in its new homeland. The first line ‘all childhood is an emigration’ fittingly captures the themes of the entire poem it shows how especially in ones childhood one changes all the time, teenager, Puberty, becoming an adult these are huge changes and can also be compared with types of emigrations. Throughout this stanza one learns about what difficulty the child had learning to adapt to the new culture, the accent sounds unfamiliar, kids do things she has not seen any of her friends do in her old homeland, and it shows how people all there lives are confronted with unknown customs and traditions, and one must nearly always learn to live with them, often to such an extent that you don’t know anything else anymore. The speaker talks about a lot of unusual and seemingly repulsive things like boys eating ‘worms’ or shouting words one doesn’t understand, in the lines before she also talks about Pebble-dashed ‘estates’, meaning very boring and dull housings. All this also seems to point out that the child seemed to have once lived in a better place, maybe the child parents use to have more money and something happened making them loose everything, and forcing them to move to a cheaper living area. This also gets reflected when the speaker talks about its ‘parents anxiety stirred like a tooth in my head’ which is a very effective way of explaining the worries and problems the child was confronted with. In the last line the font is though changed to italics representing the speaker talking and for the last time saying ‘I want our own country’, the speaker saying ‘own’ for the last time also shows how the child still doesn’t feel at home and by wanting its own country, meaning its ‘original’ homeland where it lived in before everything else changed. In the last stanza the Crisis has ended the person has gotten use to its new surroundings and is already feeling at home in this once new place. The mood is still relatively unenthusiastic but the person does start seeing a positive side in things. The speaker incorporates the persons family for a last time, when she says ‘seeing your brother swallow a slug, feel only/a skelf of shame.’ this line links back to the previous stanza with the  imagery of worms and slugs, which is not literal, but a metaphor for fitting in. The simile ‘my tongue shedding its skin like a snake’ tells the reader of the speakers not only of the speakers changed accent but also perhaps refers to many of the speakers old memories and habits which she has had to get rid of as they seem useless in her new home, and the person now in class ‘sounding just like the rest’ also emphasizes it having completely adapted to its (now not so) new surroundings. In the final lines of the poem though the person looks back one last time when being asked, ‘where do you come from?’ by a stranger, remembering its troubles having to adapt and sadness of having leave its once homeland, but now when being asked ‘Originally?’ the child ‘hesitates’ because it doesn’t not anymore if this is now his homeland or if ‘Originally’ means the one he once came from. The poem shows, in this case, how a child had to suddenly move from its homeland to a new place, strange and bizarre, in its view so different and at first seemingly impossible to be able to adapt, but in the end the child does manage to get over all its troubles, and to adapt to a completely new culture, where people do things it thought know one does. The Poem seems to use this child’s story as an example, of how much change people have to go through, and that even though it always seems impossible to be able to learn and adapt, one nearly always manages, and even though one does remember how it had once been, lives with it, and enjoys its new way of living.

Parallel Forces Physics Lab

Parallel Forces Objective: Find FA and FB on the apparatus which are parallel to both Fulcrum A and B. Calculations: Theoretical FB = 0 +FB 0. 5 – (0. 1kg x g x 0. 1m) – (0. 2kg x g x 0. 4m) – (0. 05kg x g x 0. 7m) – (0. 1kg x g x 0. 3m) = 0 -[{(0. 1kg x 0. 1m) + (0. 2kg x 0. 4m) + (0. 05kg x 0. 7m) + (0. 1kg x 0. 3m)}x 9. 8] + 0. 5FB = 0 0. 5FB = [(0. 1 x 0. 1) + (0. 2 x 0. 4) + (0. 05 x 0. 7) + (0. 1 x 0. 3)]x 9. 8 FB = FB = 3. 04 N Experimental FB FB = mpanB g – mfulcrumB g FB = (0. 385kg x 9. 8) – (. 0816kg x 9. 8) = 3. 77 – . 800 FB = 2. 97 N Theoretical FA -[(0. 1kg x g) + (0. 2kg x g) + (0. 5kg x g) + (0. 1kg x g)] + FA + FB = 0 -[(0. 1kg x g) + (0. 2kg x g) + (0. 05kg x g) + (0. 1kg x g)] + FA + 3. 04N = 0 -4. 41 + FA + 3. 04 = 0 FA – 1. 37 = 0 FA = 1. 37 N Experimental FA FA = (mpanA x g) – (mfulcrumA x g) FA = (0. 205kg x 9. 8) – (. 0693kg x 9. 8) = 2. 01 – . 679 FA = 1. 33 N Conclusion: Since the distance of FB is greater than that of FA, the torque of FB is larger. The line of FA, lies directing on the 0. 2 m axis, causing a torque of zero for FA. The theoretical and experimental values for both forces are very close, supporting the theory of torque and parallel forces.

U S Involvement in Vietnam From Truman through Johnson essays

U S Involvement in Vietnam From Truman through Johnson essays The United States first got involved in Vietnam when President Harry Truman extended official international recognition of Vietnam, Laos, and Cambodia on Feb. 7, 1950 (according to Professor Sandra Whittman, Oakton Community College, Des Plaines Illinois). This recognition by Truman was by way of taking sides with the south, as the north's communist-led aggression led American presidents to fear the "Domino Theory": when one country falls to the communists, such as Korea, others will fall like dominos, too; and if Vietnam was to fall, Truman, and later Eisenhower believed, all of Truman set up a group of "advisors" known as the Military Assistance and Advisory Group (MAAG), to advise the French, as they fought communist- led insurgents (Viet Minh) in the north of Vietnam. Truman initiated the training of "unconventional warfare operations and forces." And when the French were defeated by the Viet Minh at the battle of Dien Bien Phu, President Dwight D. Eisenhower established a CIA military mission in In July, 1959, the first American military deaths occurred as two "advisors" (soldiers) were killed. By 1961, under President John Kennedy, there were 1,500 Americans in South Vietnam. In August, 1964, President Johnson responds to an alleged attack on the U.S. Navy (in the Gulf of Tonkin) by getting Congress to approve the bombing of North Vietnam and later (in 1965), Johnson sends ground troops. Up to a half a million troops are engaged by the late 1960s. Question: What was the common link between all four U.S. presidents' Answer: Communism and the "Domino Theory." What caused the U.S. to commit to the war' The goal was stopping the communists. ...

2 Minute Presentation Topics on Modern Architecture

2 Minute Presentation Topics on Modern Architecture 2 Minute Presentation Topics on Modern Architecture If you are tasked with giving a presentation on modern architecture, you have the unique opportunity to introduce a not well known aspect of buildings and their history. While 2 minutes are not that long, it is still long enough to give your classmates an introduction to one aspect of architecture you might find fascinating. If you are in need of 2 minute presentation topics on modern architecture then consider the list of 20 topics below: How Social Housing Architecture Is Changing Urban Redevelopment: Architectural Assessments and Change The Role Played by the Church of England in Maintaining National Architecture Preserving National Heritage: How Modern Architecture Must Remake Historic Buildings Global Cultural Spaces: How Architecture Reflects Identity Sustained Buildings: Combining Nature and Architecture University Architecture and Design: The Search for Modern Perfection The Rich Decoration of Venetian Style Architecture Victorian-Edwardian Styles of Modern Architecture What Changing Architectural Styles Tell about the Civic Pride in Modern Architecture The Political Aesthetic of Foster’s Dome The Americanization of British Urban Architecture Reinventing Civic Design with Modern Architecture Environmentally Friendly Architecture: How Modern Utilities Have Changed Architectural Standards Clean Lines Creating Challenges for Modern Maintenance The Influence of Islam on the Architecture of Turkey: How Changing Rulers Changed the Construction The Influence of Christianity on Architecture: The Incorporation of Religious Artwork on Public Buildings The Geometric Shapes Used in Islamic Construction: How Interior Designs Reflect Internal Beliefs The Decline of Modern Architecture How Architecture Expresses More than Structure: The Historical Lessons Hidden in Each Building The first thing you must note is that nearly all academic writing is opinionated to some degree, meaning that no matter what you are writing, your goal is to present your opinion, often supported with facts. That being said, when writing on this particular topic, your goal is to present enough facts to support your point of view. Once you have a topic, you must start writing out the key points you want to cover. By writing a short draft or outline the same as you would do in an essay, you can review what you have and time your speech before you stand up in front of the class. Editing is important, but you should not rush it. Start at least 24 hours after you produce your first draft. In addition to this you want to make sure that your sentences flow smoothly and all of your thoughts or ideas are properly connected. You want to finally look over everything for spelling or grammar mistakes. Print out a copy too! Reading it out loud gives you the opportunity to catch smaller errors that might have gone otherwise unnoticed. Having the red pen with you allows you to write down immediately what areas need to be fixed so that once you are done, you can go back and make any necessary changes before printing out your final copy. Our professional custom writing company is a good PowerPoint presentation maker  available for students. All you need is to place your order at our website.

Controversial Planning Decisions Case Study Example | Topics and Well Written Essays - 2000 words

Controversial Planning Decisions - Case Study Example This shift has created tremendous ramifications for the governance of environmental matters. In this new philosophy, governance of environmental matters is reconceptualised in terms of ‘networks’ and ‘associations’ with which the government has to parley, so as to be effective and gain the favour and support of the citizens and the related stakeholders. As a result, planning decisions made by the government without consulting the relevant stakeholders and policymakers are considered controversial regardless of their intended objectives (Newig and Fritsch, 2009). This system of governance is usually very problematic because even though the government is required by law to make the public and the relevant stakeholders and policymakers aware of its objectives to review their development plans and consult using conferences and documented avenue, citizen and stakeholder involvement in planning decisions pertaining to the environment remains negligible (Callanan, 2005; Flynn, 2003) In the contemporary world, planning decisions pertaining to the environment are accompanied by a myriad of controversial issues. Controversial issues pertaining to environmental planning decisions usually revolve around fairness, ethics, and the manner in which evidence is used in coming up with environmental decisions and regulations. In the UK, current controversial environmental planning decisions manifest themselves in two events which are going to be critically examined in this paper. The first event is the decision, which was made by the UK’s Secretary of State, declared that thirty two hectares of an ancient woodland be wiped out to enable the expansion of an existing rag-stone mine. . The second thing is the revelations that were identified in a meeting that was held by representatives from the UK Business Council for Sustainable Development to deliberate on issues pertaining to environmentally sustainable development.  Ã‚  

Beveridges Social Security Essay Example | Topics and Well Written Essays - 500 words

Beveridges Social Security - Essay Example "There is world economy, but there is no world polity". (Altiero Spinelli and Brit Federa: Writings by Bevirdige, Robbins and Spinelli) The Beveridge Report is based on certain principles that put forth the cause of the lower strata of the society and social security. Firstly, the main principle underlines in the Report is that all the proposals for the establishment of a Welfare State and to promote the interests of the society, need to be unbiased and non-partisan. The proposals need to be commonly targeted and certainly not in the interest of a section of the society. Besides using past experience and knowledge in governance, proposals need to highlight the positive impact they would bring about, on the entire society, and not only the affluent strata. Secondly, the Report highlighted that social insurance must be incorporated into the process of bringing about social welfare.

Youth Consumption and Fragrances Essay Example | Topics and Well Written Essays - 2500 words - 1

Youth Consumption and Fragrances - Essay Example But the new and cheaper mass brands have registered the highest growth in percentage and absolute levels. The perfumes and fragrances segment have targeted the younger age groups particularly the teen segment. The teens whose ages range from 13 years old to 19-years-old have a total population of 860 million all over the world. These teens have a bigger purchasing power than most of the generations before them. The teens' market is valued at US$250 billionannually worldwide, based on studies done by Euromonitor International. This market segment is a wealthy and sophisticated segment which bodes positive prospects for premium fragrances and celebrity scents. Indeed, celebrity scents have increased the profitability and the resilience of the perfume and fragrances industry on a global sale. Celebrity scents base itself on the established image of an actress or performer and it guarantees a deep consumer base. Hence, this helps fragrance makers to reduce marketing and promotions expens es. Young people look for celebrity scents since they want to imitate their favorite R & B performers, Hollywood actors and actresses and musical artists. Having a good and pleasant smell is a status symbol and an example of making a good impression on one's friends and on one's sweetheart. The basic barometer is this: that what smells good is good, and that what smells bad is bad. The fragrance industry exemplifies that fact that smell is a reflection of material culture and it enhances the olfactory senses of persons. The fragrance market as a whole is composed of these sets: (1) soaps and detergents (in which scents are added in a particular way) (34%); (2) cosmetics and toiletries; and (3) others (air fresheners, polishes, foods, and others) which are designed to convey an unconscious scent experience. (41%). The market is equally shared between flavors (51%) and fragrances (49%). Perfumes, fragrances and deodorants are part of a global beauty business that has been pegged at US $160 billion dollars a year with a very high annual growth rate of 7%. The seven percent growth rate is higher than the growth rate of the Gross Domestic Product (GDP) of the world's developed countries. The estimated global market in 2008 for the perfumes and fragrances segment is pegged at US $15 billion dollars. The Japanese market accounts for US $4.5 billion (Fuji Keizai, 2002, "Fragrance," p. 145).

Improving The Risk Return Performance Of Portfolios

Improving The Risk Return Performance Of Portfolios With the development of the Chinese capital market, more and more investors start to look for a more rational way to invest. To increase the investment return and decrease the risk, investors must learn to allocate their funds in order to diversify risk. However, due to the limited assets that can be invested in, the convenience and effectiveness of portfolio diversification must be studied. This paper mainly explores the function of futures in the ordinary stock portfolio through the study of risk-return performance. By comparing the efficient frontiers of different portfolios, the risk-return performance of the futures portfolio and mixed stock-futures portfolio is better than the stock only portfolio. Futures play an important role in upgrading the integrated portfolio of stock and futures. The results of this study provide investors with a feasible way to diversify their funds in multi-type investment portfolios, which is of great theoretical and practical significance. I. An introduction to Chinese capital market Ever since December 19, 1990, when Shanghai stock exchange opened, people become more and more interested in investing in the security market to make money. After twenty years, investing in stocks is a quite popular and important way for ordinary Chinese people to manage their money. However, stock market itself can not meet investors needs of diversifying risk and increase capital return, and investment diversification becomes a natural solution and guiding concept. Although twenty years have passed since Shanghai stock exchange came in existence, development of Chinese capital market is quite slow, with limited kinds of investment products. Lack of varieties of trading tools and incomplete structure of capital market products make it difficult to diversify in Chinese capital market. In developed capital markets such as Hong Kong, over 80% of financial derivative instruments in international financial market have been introduced. In stock market, the trading of index futures, options and warrants is quite active with a trending of exceeding the trading of spot market. Hong Kong bond market is even more diversified. Based on three basic kinds which are bond, note and certificate of deposits of fund-raising tools, many more complicated derivatives such as floating rate bonds, variable rate bonds, convertible bonds, credit card receivables, and the current debt instruments traded on the Hong Kong Stock Exchange listing has been increased to 129.(20 09) On the contrary, despite of stocks, there are few more than five years investment instruments in mainland China capital markets. The trading of 1-5 year instruments is also confined so that the available trading instruments are quite limited. As an emerging market the risk of stock market is higher than normal, both systematic risk and market risk. The systematic flaws in Chinese stock market such as no trades of state owned and corporation owned stocks and lack of index futures  [1]  or other kinds of hedging instruments make the whole stock exchange system more uncertain. The strong influence of state policy changing is also a reason for high uncertainty. As for the market risk, stock market is in sharp adjustment since the end of 2007. On the one hand, the overall risk has lowered a little; it is still too high compared with the mature capital markets. On the other hand, the low self-control ability of the participants involved in stock market makes the unsystematic risk highe r than average. Investing only in stock market can not successfully diversify risk. Considering the incompleteness of Chinese warrant market, futures have been chosen to diversify risk. Chinese future market also started in 1990. After six years of cleaning up and reconstruction (1995-2000), future market is in good development. In 2002, stock market turned down, which made part of the stock market capital switch to future market and made it a hot deal. This situation is quite similar to what happened in 2007-2008. Chinese future market developed from first pilot reform to rectification and now has entered a new stage of stable development. The legal operation and market discipline have been significantly improved. These features make futures possible as a component of portfolio. At present, research of the role of futures in the portfolio is focused on index futures and its hedging properties, while the research of commodity futures is focused on its function of price discovering. Adding futures into ordinary stock portfolio has not been well discussed so that this article will research on the performance of portfolio with commodity futures to see whether futures can effectively diversify risk and raise the return. How to optimize investment portfolio becomes the first and most important question that investors need to consider. Thus, modern portfolio theory becomes quite widely applied in practice. Portfolio means investors allocate certain amount of money to different kinds of assets in order to gain as much as possible return or to get the lowest possible risk. II. Past literature review in portfolio selection theories In 1959, Markowitz published his paper named Portfolio Selection: Eficient Diversification of Investments, which conducted a pioneering study of optimizing portfolio in the security market. Ever since then, modern finance and investment decision making comes into a quantitative stage. Portfolio theory is a set of theories and methods to help investors choose certain types and allocate their money from varieties of instruments to form efficient portfolio. In Markowitz theory, mean-variance model can be applied to any class of financial assets, as long as its expected return and the correlation of each asset can be accurately estimated (Markowitz, 1959). In his model, mean represents the expected return of an asset and its risk is represented by the variance. In order to use the Markowitz mean-variance method, we need to find the expected rate of return and risk. However, considering the ineffectiveness of Chinese stock market, the simple mean-variance is not applicable. Thus, more app ropriate method of evaluating return and risk needs to be found. Among these different evaluating methods, people tend to agree using expected return as a representative of future earnings. The return of a financial asset is consisted of two parts: intertemporal cash flows and capital premium (asset price changes during the holding period). The return that this article is going to use is the daily logarithmic rate of return, so the intertemporal cash flows can be ignored. The yield can be expressed as: Because logarithmic rate of return can be simply added which facilitate the data processing by software and its value can be any real numbers, this article will use logarithmic rate of return as the evaluation of asset yields. The simplest way to get the expected rate of return is calculating its average. Its flaws are also quite obvious: the result is far from accurate. In order to find more accurate estimation, we need to fit time series data to appropriate model and find the unconditional expectation of asset return. In 1980s and 1990s, lots of literatures have discussed the predictability of stock market and suitable model of predicting asset returns. M.Hashem Pesaran and Allan Timmermann (1995) found that the predictable components of stock returns are highly correlated with business cycle and the magnitude of shocks influences the model more than expected. But because what they studied is a long term relationship in the stock market, the results can only be a consultation. As for the daily stock return, many researches suggest that it shows significant dependence on former returns. Vedat Akgiray found in his paper about the conditional heteroscedasticity in stock returns that the probability distribu tion of return lag of s days is dependent on return today for several values of s (1989). He used daily returns on the CRSP (Center for Research in Security Prices) value-weighted and equal-weighted index from January 1963 to December 1986 to find that GARCH (1,1) shows the best fit and forecast ability among the econometric models. Noticing that the return he used is also logarithmic rate, the features of logarithmic rate in this article can be expected to be just like that in his study. Similar results can be obtained from other literatures. There is a positive relation between the expected risk premium and the predictable level of volatility and a negative relation between unpredictable component of stock market risk and excess holding period return (K. R. French et al, 1987). Although they can not determine a certain model to describe the exact relation (difficult to choose between ARIMA and GARCH-M), the relation between return and risk is quite significant. Studies about Chinese stock market also show evidence of fitting stock return data in ARMA or GARCH models. The daily returns of Shanghai and Shenzhen index indicates significant ARCH effect and the data fit in GARCH-M model well (Hua Tian and Jiahe Cao, 2003). It is reasonable to choose ARMA or GARCH model to simulate the actual stock movement. But as for the measurement of risk there are comparably various methods. Markowitz explained the mean-variance theory in his 1959 portfolio selection paper which introduced the statistical concept of expectation and variance into the study of investment portfolio. Under a certain probability distribution of returns, he used the average deviation from the average return of all the random returns. Thus, risk can be quantified with the expectation of return as return expected and standard deviation as the measurement of risk. Although variance has some easy to use features such as simple calculating and easy understanding, it is only an approximate measurement of risk. Using variance needs the distribution to be systematic and does not take the investors different feeling about capital gain and loss into consideration. Given the same amount of gain and loss, the pain of loss is usually larger than the happiness of the capital earnings. Variance ignores this asymmetry while LPM (lower partial moments) would be a better measurement. Harlow proposed this new indicator as a more accurate way to describe risk (1991). LPM is an abbreviation of lower partial moment, which P (partial) stands for its measuring only one side of the returns compared with the fundamental rate and L (lower) stands for less than fundamental rate (downside risk). LPM is a risk measurement which meets the requirements of Von Neumann Morgenstern utility function and can cover almost all peoples risk preference. It shows a new way to describe risk apart from the traditional utility measurement which is the function of variance or the standard deviation. The expression of LPM is: , where n is called the order of LPM indicators, representing the risk aversion of investors, and z is called fundamental rate of return which is the minimum return that investors would accept. Different values of n would change LPM into different measurements of risk and therefore meet different investors risk preference, from risk preference to risk neutral, then risk aversion. One advantage of LPM is that it can show only the pain or loss possibility when the return is lower than the expected. The other is it can show what investors different risk preference can affect the feelings to the same asset by simply changing the order n. LPM is less popular in evaluating volatility than variance as the calculation of LPM is more complicated. Another reason is that LPM must be calculated separately for each variable while variance can be added or processed under certain assumptions. This means people need to program it in order to use LPM with computer data processing programs. On the contrary, all the data processing programs have a default function of calculating variance. The way to evaluating the performance of asset portfolios is its efficient frontier. Every combination of risky assets can be plotted in a risk-return space, and those combinations with the highest return under the same risk or with the lowest risk under same return are called efficient portfolios. Usually, the upper part of the curve which describes risk-return features of efficient portfolios is called efficient frontier. Ordinary efficient frontier of investment portfolio is calculated by Markowitzs mean-variance method. This article will use LPM to substitute variance to calculate efficient frontier which makes it more like investors thoughts of risk. Merriken suggested that variance and LPM are suitable for the study of short-term investment (1994), which is quite popular in Chinese capital market. Based on the review of the related literatures, this article will use econometric models to get expectation daily return of stock and futures and both variance and LPM to calculate efficient frontiers to see whether adding futures into stocks would improve the performance of portfolios. III. Theoretical study and empirical data results i. Theories of econometric models and multi-type asset portfolio The econometric models used to estimating the expected return and risk are ARMA and GARCH models depending on the features of different stock and futures time series. ARMA is an abbreviation of autoregressive and moving average model, which is typically used in estimating autocorrelated time series. As what is mentioned in the literature, auto-correlation in daily logarithmic return is shown by theoretical study, and the empirical study of the realistic data also suggests this result. Typical ARMA model is consisted of two parts: AR (auto-regressive) part and MA (moving average) part. It is normally notified as ARMA (p, q) where p is the order of autoregressive part and q is the order of moving average part. AR part is written as: , where are the parameters and is the error term (usually white noise). The value of p suggests how many lags of are regressed on and therefore is a measurement of autocorrelation. For the need of stays stationary, usually we need the absolute value of is less than unit. MA part is written as: , where are the parameters, is the expectation of , and is still the error term (usually white noise). The value of q suggests how many error terms are included in the smoothing process of average and MA process is always a stationary time series. Thus, ARMA model is written as: , which is a combination of autoregressive part and moving average part. The value of parameters is generally determined by the least square method which minimized the residual error term. The value of p and q is chosen to better fit the model without too much lags or smoothing terms. The method used in this article is through the value of ACF (autocorrelation function, which is used to determine the order of moving average) and PACF (partial autocorrelation function, which is used to determine the order of autoregressive part). In spite of autocorrelation, there are other special features of financial time series data such as fat tails, extreme values and volatility clustering. Simple ARMA models assume that the error term is independently and identically distributed which does not meet the fact. Thus, Engle (1982) posed ARCH (Autoregressive Conditional Heteroscedasticity) model to analyze this volatility feature of financial data. Four years later, T.Bollerslev improved this model and made it GARCH which is a generalized ARCH model. GARCH model is developed specially for financial data and is widely used in the study of volatility. In addition to the normal econometric model, people use GARCH to better analyze and forecast volatility. GARCH model can be written as: where the first equation is a simple ARMA model, but this time is not an independently and identically distributed normal error term. is an independently and identically distributed error term and is called conditional variance which is estimated by the third equation (also an ARMA model). and are independent of each other and the distribution of is not restricted as normal but can be changed to satisfy actual situation. This makes GARCH a more accurate model in estimating the expected rate of return and risk. Hiroshi Konno and Katsunari Kobayashi (1997) made an attempt to add bonds into ordinary stock portfolio to find a new way of allocating investment. Their purpose is to extend the mean-variance model normally used in optimizing stock portfolios to integrated bond-stock portfolios. At that time, big scale mean-variance models were restricted in stock portfolios although the computer technology and mathematical methods in financial engineering developed fast. Although bonds seem always to be considered separately when people intend to invest in financial market, Hiroshi and Katsunari still want to add bonds into portfolios. The reason is that before 1980s, the return of bond was far less risky than that of stock due to the stable interest rate. However, after 1980s, interest rate became much more volatile and investors bore heavily loss and huge risks. Actually, the volatility of bonds at that time was even higher than that of stocks. Considering this, combining bonds and stocks into the same portfolio is of great realistic meanings. The method they used is mean-variance and mean-absolute deviation models where variance and absolute deviation are as the different measurement of risk. The results are also quite satisfied as adding bonds into stock portfolios can increase the expected return under the same risk level. Never the less, Raimond Maurer and Frank Reiner in 2001 also used this idea of multi-type asset portfolio to discuss the possible outcomes of adding real estate securities into international asset portfolios under a shortfall risk frame. They noticed the fact that financial time series data had its own features and the tradition way of evaluating risk using variance can not reflect what investors think in the reality. Therefore, LPM was introduced as the way of measuring risk to reflect the asymmetry in the rate of return of asset. They compared the situation in Germany and in US by calculating the efficient frontiers of common portfolios, then calculating the efficient frontiers of adding real estate securities into portfolios. Because they studied between different countries, Raimond Maurer and Frank Reiner also calculated the effects of hedging. The results are also quite satisfied as the efficient frontiers move to the left, especially for those high risk-averse investors in Germany. Also, hedging could improve the performance of portfolios, especially for the US investors. With hedging they can build investment portfolios with higher rate of return under a relatively low risk level. But as mentioned above in the introduction part, there are few commercial bonds besides the government bonds; the only possible type of asset besides stocks that can be added into investment portfolios is futures. This article will also calculate the efficient frontiers of stocks, futures and combined portfolios separately, using both variance and LPM as the measurement of risk. As to the number of assets that should be held in one portfolio, investors have different opinions. Most mutual funds in the US market hold more than 100 stocks. Although these over-sized investment portfolios may well diversified risks, the expected return can be just acceptable as higher operational fee are needed to maintain such a huge portfolio and these stocks usually contains some low return ones. Xianyi Lu (2006) discussed this question that how many stocks are suitable for Chinese investors to hold in a single portfolio. He constructed portfolios with different number of stocks to compare their risk-return performance. The measurement of risk he used is variance. He came to the conclusion that 20 stocks would be enough to diversify most of the risk. The close-up price of stock is quite easily obtained while to find suitable closing price of futures is somewhat tricky. Futures are contracts which specify certain quantity and quality of fundamental assets between two parties to trade at a specified date in the future with a price agreed today. Thus there can be various contracts with the same kind of fundamental asset in different delivery date. Considering the trading characteristics of Chinese future market, Chengjie Ge and Yong Liang from a Chinese fund called Guotai Junan tried to construct a continuous future contract to get the daily closing price in 2008. When a contract first comes into market, the transactions are quite few. One contract is traded most actively just three or four months before delivery date, as the coming of specified date the trading volume begins to fall quickly. Those investors, especially the speculators would only trade those contracts that so-called à ¢Ã¢â€š ¬Ã…“dominant contractà ¢Ã¢â€š ¬?. Thu s, each future contract is in good liquidity only for a short time period. A continuous future contract is selecting the most actively traded contract of same fundamental asset at the same time to form a new, artificial contract to get the continuous price time series of one asset. ii. Data collection and analysis This article uses daily closing price of stock and futures from the time period 04/01/2007 to 31/12/2008. The data is obtained from RESSET database  [4]   Futures chosen are copper, aluminum, rubber and fuel oil from Shanghai Future Exchange, corn and soybean meal from Dalian Future Exchange and cotton and wheat gluten from Zhengzhou Future Exchange. In order to get daily return we need to construct continuous future contracts by selecting the most active contracts. As to the 8 futures used in this article, the most active contracts of wheat gluten, soybean meal, cotton, fuel oil and corn are those contracts with delivery date four months before the current month (not accounting current month); the most transacted contracts of rubber, aluminum and copper are those with delivery date two months before the current month (still not accounting current month). For example, current time is 19970201, so the contract which should be selected for cotton is the 199705 contract whose delivery month is May 1997. When it comes to 19970301, the contract selected for cotton should be 199703, and so on, so forth. After constructing eight continuous future contracts, we can get the time series of close-up price. The calculation of logarithmic rate of return, variance and LPM is just like the stock data. Table 1 shows the descriptive statistics of futures like the mean, the standard deviation, and some others. As the bond market is not mature in China, the risk free rate that used in this article is the three-month central bank bill rate which is also from the RESSET database, same database as the closing price of stocks and futures. From the statistics in the table we can find that the logarithmic daily return of futures shows asymmetry and fat tails, far from the assumption of mean-variance model that the distribution of returns should be normal distribution, or at least a symmetric bell-shaped distribution. Thus, using variance or standard deviation or any other kind of symmetric statistics would be less accurate. Fitting data into econometric models should provide a better estimation of expected rate of return and risk. Table 2.1-2.4 and Table 3.1-3.3 show the estimation of coefficients using ARMA and GARCH models. The models of stock returns are mostly ARMA models, but of futures are half GARCH models and half ARMA models. Table 2 is the results of future data and table 3 is the results of stock data. From the table we can see that there are four futures which are better fit in GARCH models and for the other four, ARMA is enough as the residual series after ARMA does not show significant heteroscedasticity in error terms. As for stocks, none of the 19 stock time series show significant heteroscedasticity which means ARMA could describe the features of stock price series. One interesting finding is that only 11 stock price time series show the correlation effect while the other 8 stock price series seem to be random walk. Table 2.1 and Table 2.2 are the GARCH results of future returns. Cotton, soybean meal, aluminum and copper show significant auto correlated heteroscedasticity. The basic model that used to estimate the return is ARMA model, and the first two lags show the most correlation with current logarithmic rate of return. The null hypothesis for all the coefficient in the model is the coefficient equals zero. The constant terms in the models are not significant despite that of soybean meal whose p-value is 0.0202, which means we can reject the null hypothesis under a 5% confidence level. The reason for not able to reject the null hypothesis of constant terms equaling zero may be the absolute value of daily logarithmic rate of return is too small, usually under 0.01. In such a low level the normal test to calculating p-value may become not suitable. So the value of constant terms is still used in the ultimate model to calculate the estimation of expected return although we can not reject the po ssibility that it actually equals zero. Table 2.3 and Table 2.4 show the ARMA results of future returns. Wheat gluten, corn, fuel oil and rubber daily logarithmic rate of return are estimated by ARMA model. The null hypothesis is also that any coefficient equals zero with p-value stands for the probability of making mistakes when rejecting the null hypothesis. The problem is the same with that of GARCH models as the p-values are too large to reject. But still we accept this result and make forecast using the present model. In spite of the not-so-satisfying results in the constant term, the coefficients of AR term and MA term are quite significantly different from zero which can be tell from the p-values. This is also true in futures GARCH model and stocks ARMA models. The significance of correlations in logarithmic rate of return series matches the features of financial time series and is what we would like to expect when estimating these coefficients. There are 19 stock return series to be modeled, but only 11 of them shows autocorrelation with their lags. None of these shows significant heteroscedasticity in the error terms so the model chosen is ARMA model. The constant terms of each stock return model is smaller than that of future return model, and the p-value is bigger than 0.05 as expected. The current return of four stocks out of this eleven shows significant correlation with the six and seven lags, showing the existence of cycle effects in the stock market. For these four stocks, what happened in the week before affects the price of this week more compared with other time. Other seven stocks show the ordinary one or two lags correlation. The coefficients of AR and MA part are also of great significance and the null hypothesis can be rejected. For those 8 stocks which do not show the existence of autocorrelation, the processing method is to calculate the basic descriptive statistics such as mean and variance. This method may ignore the asymmetry and fat tails of the data, but as there is no good econometric model to estimate random walk series, this simple way has its own advantage and also of quite high accuracy in estimating the expected rate of return and risk. This article use the forecast value of each model as the expected rate of return, and the variance of the sample as the expected risk for the mean-variance model of investment portfolios. For those 4 GARCH future models, the expected risk is the forecast value of the error part model. As for those eight stocks whose logarithmic daily return series are random walk, simply use the mean as the expected rate of return and the variance as the expected rate of risk. LPM1 is using the three-month central bank bill rate as fundamental rate of return because of its risk-free characteristic. The mean-LPM model also uses the results of expected rate of return from the forecast of GARCH and ARMA models as the only change in this new model is the risk measurement from variance to LPM. Someone may argue that different econometric models could cause different estimation of expected rate of return, thus the results of efficient frontiers become not so convincing. The purpose of this article is to compare the efficient frontiers of different asset portfolios, trying to find the possible improvement of adding futures into the ordinary stock portfolios. The econometric estimation is used to construct Markowitzs mean-variance model. What can be seen from Table 2 and Table 3 is that most of the assets can be fitted into ARMA model. As a matter of fact, because the absolute value of daily logarithmic rate of return is too small, the difference of constant terms between GARCH and ARMA model for the same asset is very small that can be ignored. The calculation of efficient frontiers is using MATLAB financial tool box, and the original data is what has been done above. After calculating the correlation coefficient matrix of 19 stocks and 8 futures, there is not much correlation of each asset. In fact, most of the correlations coefficients are between 0.1 to 0.3, with some of them even to be negative correlated. It suggests that the risk diversify of investment portfolios should successful using these 27 assets according to the statement of Markowitz. 8 futures portfolio Stock and future portfolio (The green line is the efficient frontiers of 19 stocks portfolio, the purple line (in the middle) is of 8 futures portfolio and the blue line is of the mixed stock and future portfolio.) Compared these three efficient frontiers, we can find that adding futures into the ordinary stock portfolio can greatly improve the performance of portfolios, which is even greater under lower risk level. Single future portfolio also performs well compared with single stock portfolio as it can offer higher rate of return under the same risk level. From Figure 1 we can find with the same expected return of 0.4ÃÆ'—10-3, the mixed stock and future portfolio can reduce the risk from 0.012 of single stock portfolio to less than 0.006. This more than fifty percent of risk reduction shows great practical meaning of multi-type asset investment portfolios. Figure 2: the efficient frontiers of stock, future and mixed portfolios using mean-LPM model Figure 2 shows the same results as the Figure 1. The mixed stock and future investment portfolio can improve the risk-return performance of portfolios. Similarly, future portfolio performs much better than stock portfolio, and it can greatly raise the expected return under higher risk level. The mixed portfolios improvement is mainly under low risk level, as the risk becomes bigger, the performing difference between future portfolio and mixed portfolio are not so significant, for the efficient frontiers overlap each other. The efficient frontiers are straight lines in Figure 2 while they are curves in Figure 1. The different risk measurement may result in this. Because LPM only calculates the downside risk, the risks of the portfolios which provide same return are not the same. Every single LPM must be calculated separately. So the shape of the new efficient frontiers may look different from the traditional hyperbola-shaped curves in mean-variance models. Both the mean-variance model and the mean-LPM model show that only investing in stock market can not get as much return as investing only in future market under the same risk level because the efficient frontier of stock portfolio is to the right of that of future portfolio and the distance between the two efficient frontiers is quite large. It reveals a fact that investing only in stock market can not guarantee ideal revenue. Although twenty years has passed since the establishment of