Compare and contrast Piaget’s and Vygotsky’s theories of cognitive development in children Essay

This essay will compare Piaget’s and Vygotsky’s theories of cognitive development in children. Also, show the differences between the two psychologist’s theories. Thus, by showing their similarities like in language and adaptation theories. Further, differences like Piaget’s theory on cognitive developmental stages and the schemas which are build to learn or accommodate new words or things. Vygostky’s theory differs to Piaget’s theory by his socio-cultural and language theories. Finally, bring all this points together by drawing a conclusion. Cognitive development is defined as the growth of mental faculties from birth to adult age. This is continually process as the children go about life they learn skills, language to further their cognitive development. Jean Piaget and Lev Vygotsky were both interested in this field and they findings have influenced and impacted the children learn and education in better way. According to Piaget children c ognitive development is universal a process which the child goes through once and this process is divided into four different stages: sensorimotor, preoperational, concrete operations and formal operations (Gross, 2004). Sensorimotor stage beginnings between the birth until two years of age. At this stage Piaget suggested that children distinguished themselves from objects. Also, they experience their environment through their senses (Gross, 2004). Further, children start to take initiative and be able to reflex like kicking playing or grasping things. In addition, children start to realise that even when the object is not visible but still exist, which is called object permanence (Beck, 2000). The second stage Piaget called it as preoperational a stage between the ages of two and seven years old. In preoperational stage children are able to use language to name objects animals and group things into groups. But their abilities of thinking at this stage still egocentric because hardily they can take the view point of others (Beck, 2000). Also, Piaget divided this stage into two; the pre-conceptual and the intuitive. First, children in preconceptual cannot differentiate colour or size at the same time a process which Piaget called centration. In contrast, Vygotsky named it as complexive  thinking meaning that when one is grouping things or events accord ing to their common features like shape or colour (Gross, 2004). The pre-conceptual stage is between the ages of two to four years. Further, children at this sub stage cannot recognise order or sequences (Gross, 2004). Second, intuitive stage takes place between the ages of four to seven years. In this stage Piaget believed that children cannot understand conservation that still the same when they change their form (Gross, 2004). The third stage is the concrete operational stage which Piaget believed that children at ages of seven to eleven they develop metal abilities of thinking logically (Carlson, 2010). Further, children at this stage understand compensation, reversibility and identity (Beck, 2000). The fourth and finally Piaget stage is the formal operational at this stage the children have ability to think abstract and logically (Gross, 2004). Thus, in this stage young people go through different changes in their development meaning that they are aware of their decisions making and taking other peoples opinions. According to Piaget this stage is between the ages of eleven until the adolescent (Gross, 2004). Thus, another different between Piaget’s theory and Vygotsky’s theory is the Piaget schemas theory. According to Piaget schemas are divided into three points the assimilation, accommodation and equilibration (Gross, 2010). Actually, schemas are defined as mental and physical aspect of understanding better children during their life span (Beck, 2004). Assimilation is process when a child adds new information into the ones which are known to her or to him (Gross, 2010). Instead, accommodation inquires adapting and be aware of new and old information. The last one is the equilibration which Piaget believed that a child at this point has the abilities to balance information back and forth in order to practise and get the information restored. And the child does it by accommodation and assimilation (Carlson, 2010). In other hand, Vygotsky suggest that language is the fundamental basis for the children cognitive development (Gross, 2010). Also, language is one the factors that influence children to use inner speech when learning new objects or words (Gross, 2010). But there is problem with this theory because other psychologists do not support this theory. Instead, Piaget argued and suggested that children at that stage are egocentric and have some form vocabulary limitation. Further, this might explain the children self talk (Gross, 2010). In another  Process which Vygotsky explained was the Zone of Proximal development which the child learn skills with help of adults to expand their knowledge (Carlson, 2010). Further, Vygotsky also suggested that by children interacting with their family members helps them to become better verbally (Beck, 2004). Furthermore, Vygotsky come with theory of scaffolding which is explained that parents or adults should support their children y solving problem step by step without causing them frustration. By doing that when children show some form of improvement of master those skills, parents should then leave the children by themselves (Carlson, 2010). But Piaget contradicts this theory by suggesting that children at this they cannot think properly (Gross, 2010). Vygotsky’s suggested that there are three processes which parents pass their knowledge through their children; imitative learning, instructed learning and collaborative learning (Beck, 2004). Imitative is when children do or copy what their role models do. Further, the instructed learning is when the child does what he or she was told by adults or puts it into practice. Another point is the collaborative learning when a group of children work together to learn or to achieve a goal (Gross, 2010). Contrary to Piaget’s theory, was the socio- cultural theory which Vygotsky suggested that, the environment in which the child grows plays an important role in cognitive development of the child. In addition, Vygotsky went on by suggest that children learn from important people in their life, like parents, teachers and friends or family members which are as role model in their point of view (Gross, 2010). This contradict Piaget’s cognitive development stages theory which he believed to be universal, and what the child goes through or what she or he learns at every age is the same everywhere in world and for every child (Beck, 2004). Looking at how Piaget and Vygotsky went about to explain their theories one can found contrast and similarities. Vygotsky focused in importance of language and how they went on learning how to resolve problems. In addition, Vygotsky’s theories lacked enough evidences to support them and for this reason they were not tested (Beck, 2004). Meanwhile, Piaget observed his own children when playing to support his theories (Gross, 2010). Further, Piaget had less interest on the social development theory. But Vygotsky focused on the social part of the cognitive development (Gross, 2010). Overall, there are differences between the Piaget’s theories and Vygotsky’s theories but in  some point there were similarities. For instance, Vygotsky focused mainly in socio- cultural suggesting that where the child grows has vital role on his cognitive development. Whereas, Piaget’s theory were more related to schemas and stages of cognitive development which Piaget suggested that they were universal. But both agreed that language is important and that teacher were important for child’s cognitive development. In brave, Piaget’s theory and Vygotsky’s theories have improved and gave better understanding of children cognitive development and also in the education. References Berk, L. E. (2000). Child Development. 5th ed. Massachusetts: Allyn & bacon. Martin, G. N., Carlson, N. R., & Buskist, W. (2010). Psychology. 4th ed. Essex:Pearson Education. Gross, R. (2004). Psychology: The science of mind and behaviour. 3rd ed. Tonbridge: Hodder & Stoughton. Piaget, J. (1950). The Psychology of Intelligence. New York: Routledge Classics.

Beer Wars-Documentary Review Essay

Introduction Beer Wars was a very eye-opening documentary. It was interesting to see how the market share of the largest beer company, Anheiser-Busch, has grown throughout the years. In 1965, Anheiser-Busch had a meager market share of twelve percent. As marketing on television grew in popularity, Anheiser-Busch’s market share grew as well. By 1985, Anheiser-Busch’s market share had grew to thirty-seven percent. By 2005, Anheiser-Busch’s market share had grown to an enormous forty-nine percent. This was very shocking to me that one company could control almost one-half of the market share of a $97 billion industry. Also, in 1985, the other two largest beer makers, Miller and Coors, made up about twenty-six percent of the market share. Thus, in 2005, major beer companies made up seventy-five percent of the beer sales in the United States. Which tells us that craft breweries only had twenty-five percent of the market share. How the Large Got/Stay Large In the beginning, all beers were craft beers, until the big three companies wanted to grow, and grow they did. Unfortunately, as the three largest beer companies in the United States grew, the beer-drinking public that was buying their beer were actually the people who were suffering. The reason that I say this is because of the way the large beer manufacturers got to this point. The large beer manufacturers were not very concerned about the quality of their beers as much as they were about the number of sales that were created. The way that the large beer companies did this was through their advertising campaigns. The large beer companies were/are millions and millions of dollars during different sporting functions and on every day television. Beer Wars told us that, on average, there is about $1. 5 billion spent on advertising by the large beer companies every single year. That number is astounding to me, considering how popular their beers are. I think if they were to cut back their advertisements by about 50%, they would still maintain a stranglehold on the beer market in the United States. Another way that large beer companies tend to stay on top of the market is through shelf space at different locations. The large beer companies tend to make many different varieties of beers and thus are afforded more space on the shelves and local markets and liquor stores. This leaves a very small area for craft beers to be displayed, especially when it is very difficult to determine if a beer is a craft beer or made by one of the large beer companies. I will talk more about this later in the discussion. Why Light is King The large beer companies tend to market light lager beers, and for good reason. About eighty-five percent of the beer consumed in the United States is light lager. So, Miller Lite, Coors Light and Bud-Light are very good money makers for the large beer companies. I would not blame the companies for pushing and selling what the people want, or is this what people want? Craft Beer Facts Well, craft beers haven’t fully caught on in the beer markets. NPR. org tells us that craft beers only make up about five percent of the total beer market. According to NPR. org, there are currently over two thousand breweries in the United States. Of those two thousand, about 1,950 of those breweries are considered craft beer breweries. That’s another very interesting point. Ninety-five percent of the breweries in the United States are brewing about five percent of the beer that is sold in the United States. That really doesn’t seem right, but NPR. org goes on to tell us that in order to be a craft brewery, the breweries cannot brew more than 6 million barrels of beer every year. According to texaswatchdog. org, Anheiser-Busch alone brewed over one hundred million barrels of beer in 2011. That is an amazingly large amount of beer for one company to sell. This also tells us that the hope is not nearly lost for craft brewers. If all of the 1,950 craft brewers produced only ? million barrels of beer each year, they could easily cripple the large beer manufacturers with an influx of 975 million barrels of beer flooding the marketplace. But, the vast majority of craft brewers would never want to do that. The Craft Beer Way The craft brewers in the United States and around the world have a completely different take on what it means to brew beer. Dogfish Head craft beer was said to only have . 0002% of the market share of beer sales in the United States. According to brewersassociation. org, Dogfish Head craft beer ranked 12th in the nation in 2011, based upon the number of sales for a craft brewery. That is truly amazing, how a company ranked 12th in the whole country in craft beer sales still only has . 0002% of the total market share of the beer industry. However, the owner of the company said that he would never want to grow like the large beer companies have. He is more concerned about each and every bottle of beer being the best beer possible, rather than worrying too much about how many cases he is able to send out the door. As a whole, craft beer makers try to capture their piece of the market through differentiation of their products and not through advertising like the large beer companies. Craft beer makers still try to do new and interesting things with beer, but they do their best not to lose focus on the most important factor, a good quality brew. Spreading the News Beer Wars told us that one event that allows craft breweries to get their name out to the public is the great American beer festival. This is an event where brewers go to from all over the world for people to sample and try different beers that the craft brewers make. This is a great way for the small breweries to get their name out to the market. Unfortunately, Beer Wars told us that even the large beer companies are starting to attend this event. Large Feeling the Effects The large beer companies have now started feeling the effects of small craft beers in the marketplace. According to brewerassociation. org, craft brew beer sales have increased from about one percent to about six percent of market share in the past fifteen years. This is the only portion of the beer industry to have any sign growth in that timeframe. Once again, the large beer companies are using their financial advantage to combat this trend. Anheiser-Busch has gone out and purchased several small beer company names and have been selling them as craft beers, where in fact they are mass produced at one of many Anheiser-Busch’s factories. Another way that large beer companies are flexing their monetary muscles is through lawsuits. Beer Wars described how one craft brewer was being sued by Anheiser-Busch for using a name that the brewer had used for years. The problem with this is that Anheiser-Busch had not been using that name for very long. Another issue with this is that craft brewers do not have the financial means to be able to hold off many lawsuits from large beer manufacturers. The reason that this is difficult for craft beer makers is the fact that funding for craft breweries is very hard to come by. Usually investors either invest in very large ventures or very small ventures. Most of the time, craft beer makers are somewhere in the middle as far as their funding needs go. Because of this oddity, gaining funds for the production facilities for a craft brewery is very hard to obtain through normal financing. Political Issues Some of the other challenges for the craft beer manufacturers is found in Washington, D. C. Beer Wars tells us that beer lobbyists are one of the most powerful group of lobbyists in Washington. The main focus of these lobbyists is ensuring that the three-tier system of distribution is held intact. The three-tier distribution system basically splits up the beer manufacturers, the beer distributors and the beer retailers. This rule was put in after prohibition to make sure that beer sales would be fair across all persons involved. Basically, so the large beer makers couldn’t prevent others from getting their product onto store shelves. Unfortunately, this is exactly what is happening. Distributors tend to lend favor to the large beer companies, because they are paid by how much beer they deliver, and as we saw from Beer Wars, the large beer manufacturers still control that volume of beer sales. So, when the distributors are putting the beer on the shelves of the retailer, they will basically give the large beer companies whatever kind of shelving presence that they desire, basically because they are getting incentivized to do so. I definitely think that the three-tier system needs to be looked at and revamped to meet the needs of today’s marketplace. Conclusion Overall, this documentary was a very interesting look into the beer manufacturer marketplace. I never realized before how devious the large beer manufacturers are when it comes to protecting their market share. With both the lawsuits over naming rights and the basic control of beer distributors, it’s amazing that any craft beer makers even stand a chance of holding any portion of market share. I believe that the large beer manufacturers are scared of what could happen very quickly if they do not do something to respond to the expanding requirements for quality beer in the marketplace. This documentary definitely made me change my mind on how I thought about craft beers. I always figured it was just some fad that would eventually fade away. I see now that this is not the case at all. Craft brews are just being produced to give the marketplace a much higher quality, even if they have to pay a little more. I have a much greater respect for craft beer manufacturers. I would hope to someday be able to brew my own beer just to see how fulfilling it can be. I will definitely start drinking more craft beers because of this documentary. References (Other Than Beer Wars) 1. â€Å"BREWERS ASSOCIATION RELEASES TOP 50 BREWERIES IN 2011. † Brewers Association. Brewers Association, 17 Apr. 2012. Web. 28 Nov. 2012. . 2. Chappell, Bill. â€Å"U. S. Craft Beer Brewers Thrive, Despite Small Share Of The Market. † NPR. org. NPR, 18 May 2012. Web. 28 Nov. 2012. . 3. Lisheron, Mark. â€Å"Anheuser-Busch InBev Roars against Craft Breweries Bill in Texas Legislature. † Texas Watchdog | Investigating Government Waste, Fraud and.

Issues in the correctional system, the case study analysis of facility

Issues in the correctional system, the analysis of facility murder - Case Study Example Moreover, it explains the necessities of reducing the liberties given to the prisoners in America. According to Ikilo, (n.d.), it is the duty of The Federal Bureau of Prisons to â€Å"protect society by confining offenders in the controlled environments of prisons and community-based facilities that are safe, humane, cost-efficient, and appropriately secure, and that provide work and other self-improvement opportunities to assist offenders in becoming law-abiding citizens† (Ikilo, n.d.). However, nobody thinks about the safety of correctional officers while saying volumes about the safety of the public. It should be noted that many of the correctional officers working in American jails are females. They were forced to interact with many of the hard-core criminals who have less faith in humanity and more faith in cruelty. Many of the criminals in correctional system are sex offenders. Moreover, it is quite possible that even normal criminals may become sex offenders in jails si nce they are not getting any opportunities to relieve their sex energy. Many studies have proved that homosexuality is common in American jails. This is because of the lack of opportunities for heterosexuality in jails. Under such circumstances, the logic of asking women officers to work in American jails can be questionable. The ill fate suffered by Marsha Wills point towards the serious issues prevailing in American jails which needs immediate attention from the authorities. This paper tries to identify the issues, and make recommendations on how to improve the correctional system based on the given case study. Major issues prevailing in American correctional system James (2010) pointed out that â€Å"In "Tent City", a notorious convict camp in the Arizona desert that lacks even basic air conditioning, temperatures regularly top 130 degrees, causing no end of heat-related health problems among its internees† (James, 2010). It is a fact that absence of basic living condition s may cause distress in the minds of people and in the case of criminals, such distress may result in unexpected outcomes. Majority of the criminals in American jails are leading a no hope life. For example, life imprisonment in American means the culprit should spend his remaining life span in jails. He may not get enough opportunities for parole or probation. The US is the only country where juveniles are serving life imprisonment without parole under the so-called "life means life" policy. Only the US and Somalia have refused to ratify the UN Convention on the Rights of the Child, which rules out life sentences with no chance of release for crimes committed before the age of 18 (Pilkington, 2011). Even though America is believed to be the most civilized country in the world, they are not so at least in terms of considering criminals who got life sentencing. In other countries such as India, life imprisonment means only 15 year jail term. Moreover, during this 15-year jail term it self the criminal can spend lots of time outside in the name of parole. Those who are behaving decently in Indian jails, may get paroles frequently. In other words, criminals in Indian jails have hope for a future life outside the jail campus. The incidents or the murder of Marsha Wills in the given case should be analysed in the above context. John James, the 52

Module Questions Law Coursework Example | Topics and Well Written Essays - 750 words

Module Questions Law - Coursework Example Assignment 1-2 Q. In Edward Sutherland's definition of crime, there are three areas that form the foundation of specialty areas in criminology. List and discuss each of the three areas. In order to discuss the founding areas of Sutherland’s definition of crime, I’ll paste the definition as it is. "Criminality is a probabilistic event determined by the frequency and quality of interaction with persons holding definitions favorable or unfavorable to violation of the law." According to this definition â€Å"Criminality is a probabilistic approach†, something that describes the probability of committing a crime, something that is not instinctive but occurs with a potential threat in the society or a matter of self tolerance. â€Å"Probabilistic event†, explains that nothing can be proven with a 100% guarantee. In an experiment carried on 10 people to determine how many out of those 10 commit crime when exposed to a potential threat, if the ratio turns out to b e 51%, the probable explanation of the theorist is proved and hence the theory as well. â€Å"Frequency and quality of interaction with persons holding definitions favorable or unfavorable to violation of the law†; this factor of the statement describes the possible root of committing a crime, a proposed tendency to adopt criminal thoughts or criminal approaches if the person has more interaction with people who are involved in such acts, the depth or strength of the relationship with such people. Q. Discuss the importance of theory. Your answer should include the aspects and fundamental issues of theories. The most important thought that this theory puts forward is the fact, that a person is not born with a tendency to commit a crime. Biological factors might only have a 50% effect on a man’s nature but his social inclination towards people who have a history or background of crime increases a man’s potential to commit a crime. Social or civil discrimination or other such factors are also the reasons which cause a rise in criminal activities. Q. Define "cause". Theorist always present words in a way that don’t really present the fixation of their thoughts. ‘Cause’ of a possible crime can be explained by playing with words, providing general interpretations of what could be the possible factors. A ‘cause’ can be defined as a possible reason or a factor that may provoke a potential crime. Q. List and briefly discuss four of the definitional problems in defining crime. The first definitional problem in defining crime is its failure to specify it with determinance. Explaining an act on probable grounds does give a ratio of high regard but it still isn’t 100% guaranteed. Secondly is the relationship between the frequency and the quality of the relationships between individuals. Both frequency and quality set to give an entirely different outlook to the behavior of attempt of crime. The favorable and unfa vorable definitions on the attempt of crime vary differently on different occasions; hence, it cannot be a standard to determine crime. Q. What is the difference between criminology and criminal justice? Criminology is described more as a behavioral or a social study that intends to describe the social causes of crime or the reaction to crimes. Criminal justice on the other hand, is the field that deals with the collective aspect of criminal policy making. Or in other words its

American global supremacy Essay Example | Topics and Well Written Essays - 1000 words

American global supremacy - Essay Example Walters, whom I interviewed for this project. I chose to interview him, my uncle who is going to be 75 in December, because he is a very knowledgeable and shrewd man. He was with the army as a doctor for his entire career until retirement. During his many appointments, he was posted in various countries all over the world and thus was an ideal candidate to elucidate on this topic. I took notes as we had a casual conversation. When I asked him whether he thought America was a ‘superpower’ right now, he explained to me what a superpower is. He said: The superpower is the nation that has a say in the world events and decisions the most. There cannot be a superpower without there being nations who give it that status, just like there cannot be a leader without having followers who want him to lead†¦ Before the 20th century, Great Britain provided tutelage to the world, as it had colonies and followers all over†¦ Look up history, you know, books and biographies and you will see the superpowers the world has seen, rule and then disintegrate. Soviet Union happened just a couple decades ago. However, the world has never been as global as it is now. America was building up to take this position when there was want of hope and optimism in the 17th, 18th centuries. It gained that position, and the acceptance from other nations in the 20th century. When I asked him how America came to be a superpower, he said it was through invention, progress and trade. Americans have always been very open, adventurous and have opted to set up work sites (Steingart) and joint ventures in countries all over the world. American language, food and culture have precipitated world over. From McDonalds to Apple, email to ‘F.R.I.E.N.D.S’, American items have penetrated all the cultures of the world in some form. Another very important factor that established the position of the US in the global arena is the US dollar. It has become the global currency for trade in the

A Sports Development Work Programme and a Sports Development Action Essay

A Sports Development Work Programme and a Sports Development Action Plan - Essay Example A four year plan is published by the council. The council has been working in partnership to ensure that they deliver the most efficient and highest quality services to business, citizens and communities in the South Lanarkshire. There has been need of developing a leisure structure of NBG in South Lanarkshire such as a swimming. The reason behind the choice of area of work is to improve the quality of life of citizens in South Lanarkshire and at the same time improve the overall enjoyment of living and working in South Lanarkshire by providing equal access to opportunities. There is need to prepare a work programme when commencing any given new project. Many projects reach undesirable end results, such as structural collapse, cost overruns, and/or litigations reason because those with experience in the field did not make detailed plans and maintain careful oversight during the project to ensure a positive outcome. Hence, for our project we should establish a team of workers and advisors to create an overall plan to ensure that our project will proceed in an orderly manner to a desirable end. We will include advisors such as accountants, insurance brokers, mortgage bankers, architects and engineers. Effective planning is essential for the successful execution of a project. Those involved with the design and execution of the infrastructure will consider the environmental impact of the job, the successful scheduling, budgeting, site safety, inconvenience to the public caused by construction delays, preparing tender documents, etc. A SWOT analysis identifies factors that may facilitate or inhibit the proposed development of a leisure structure of NBG in South Lanarkshire. A SWOT Analysis to Development of a Leisure Structure of NBG in South Lanarkshire Strengths Weaknesses Good support network by sports fans Improved link with other partners Support by the council Difficult of development without support of the community If government support the project, then we account more also to it. Opportunities Threats Potential improved government funding Other partners may high jack the project The development of the leisure structure of NBG will succeed if it gets support from the sports fans and the required support from the council. It will also succeed if it gets funds from the government and other well wishers. On the other hand the project might fail if other partners high jacks the project before we implement it and also if the community will not support the project. Action Plan Action 1 Goals: Consultation with relevant organisation on the development of swimming Evaluation Strategy: I will know that the goals have been achieved if we reach to a compromise. Steps Necessary to Achieve the Goal Time Scale Resources Having consultative meeting with various stalk holders 3 - 6 Months Myself, Council, Community Leaders, Church Leaders, Government Representatives

Diagnostic Writing Essay Example | Topics and Well Written Essays - 750 words

Diagnostic Writing - Essay Example The patriarchal society was created by men to maintain a dominant position in the society that restricts the role of women in any decision making and promotes a set of rules for their conduct and actions, both within the family and outside the family environment. The women are denied the basic right for self expression and empowerment of women has increasingly become a major issue for the societies at large. Later, when the women, especially those coming from lower strata of society and from black community, started sharing work with their counterparts, they were denied their rightful wages and status. Truth’s speech in 1851 at Ohio’s Women’s Rights Convention, is a persuasive text that question’s the society’s moral right to deny the women equal rights when they have shown that they are capable of working alongside men, in every field. In her speech, Truth has pointed out that though women, in general, have been denied equal rights and decision powers but the ‘black’ women have even been stripped of their gender identity and denied the basic minimum respect that ‘white’ women command! She has been highly critical of system that lets the ‘black’ woman do the work of men but when it comes to recognizing them at par with the men, there is no hesitation in highlighting the gender discrimination. It is but for a woman, Mary, that ‘Jesus our God’ was born so how can a society morally deny the women any rights? She says that she has worked like a man, borne lashes and at times, even done better than them. At the same, she has borne and reared children who were sold into slavery in front them and still she has not been accorded the status of either a woman or equal partner! She has exhorted the women to fight collectively for their rights because ‘if the first woman God ever made was strong enough to turn the world upside down all alone, these women together ought to

Pocahontas Essay Example | Topics and Well Written Essays - 750 words

Pocahontas - Essay Example This custom could be seen as a ritual death which the hostile natives perpetrated on strangers in their land. Later, the chief adopted Smith as his son, or a subordinate chief. Pocahontas and Smith soon became friends. Pocahontas started visiting the English settlement to bring them food since there was always a shortage of food in the English settlements where Smith lived. The colonists were not adept at hunting food and also were not familiar with the local terrains which became a handicap in their search for food. Despite being the chieftain’s daughter, Pocahontas provided immense help to the English settlers, for which her efforts should be seen as the first attempt to bridge the cultural difference and ethnic rivalry. Because of this contribution, â€Å"she remains an important part of American folk history to this day.† (Spectrum home & school magazine 2006). Subsequently, an injury from a gunpowder explosion forced John Smith to return to England in 1609. The settlers told the natives that John Smith was dead and Pocahontas also believed it. In the year 1613, Pocahontas was kidnapped by some English settlers and brought to Jamestown. They used her as a ransom for negotiating the release of English prisoners and firearms from her father. He agreed to release the prisoners but refused to part with the weapons, and hence Pocahontas was held back. From Jamestown she was moved to Henrico for religious indoctrination into Christianity. This denotes the fact that intrinsically the Algonquian tribe was receptive to the idea of cultural transition from one religion to another. This is all the more significant because a teenage girl had done this. She was one of the first America in Virginia State to convert to Christianity, and this act pioneered the advent of Christianity in North America, from where it spread to other regions of America. Thus Pocahontas marked an important milestone in the cultural history of America. During her stay in Henrico, in the

Strategy Recommendation Research Paper Example | Topics and Well Written Essays - 1000 words

Strategy Recommendation - Research Paper Example In addition, businesses sell their products through various online platforms such as e-bay and Amazon. Nike Inc began its operations in September 8, 1969.The Company engages in design, development, marketing and worldwide distribution of apparel, footwear, accessories, equipment and services. The company mainly focuses on manufacturing athletic apparel and footwear. The corporation’s major products offerings include football wear, running gear, and basketball uniform in addition to training and boxing apparel. The company also produces sports apparel for children and other equipment for sport-oriented recreation activities such as swimming, golf, lacrosse, American football and outdoor activities. Nike also manufactures sports accessories like bags (Carty, 2010). The company’s marketing strategy entails promotion activities such as event sponsorships, billboards and television advertisement. It also promotes its products through placement in various reality TV shows across the world. Nike is the largest designer and manufacturer of sports apparel in the world. The company initially specialized in the production of sports footwear. Its current line of production comprises of various types of sportswear such as swimsuits, footwear, training wear, boxing gears and its accessories, football apparel and basketball gear. The company utilizes the internet to market and sell their products. Moreover, it communicates with the consumers on various social network platforms such as Facebook, Twitter, and MySpace. Nike Inc also uses Instagram to highlight various updates on their products such as Nike shoe customizations and the enhancement of comfort in its running gear. The internet enables the company to communicate, sell and market its product s easily. Nike Inc uses the internet to enhance its operations in the apparel market, which makes it an excellent case study for the proposal (Knight, 2000). The internet is

Recommend Your Friends Essay Example for Free

Recommend Your Friends Essay 1. F. James McDonald the former president of the US automobile workers federation suggested an average reduction of 4% in the price of the car. The automobile market was weak, which resulted in unemployment. Lower price would lead to greater sales and stimulate employment. McDonald believed that a 4% reduction in price would increase sales by 16%.David black, representing the management of the automobile manufacturers disagreed with McDonald’s estimation. Black cited studies which indicated price elasticity’s ranging from 0.5 to 1.5.Black made it clear that he was referring to the elasticity of demand in response to a permanent price change of all manufacturers. He admitted that the elasticity to a temporary price cut might be greater. The studies to which Black referred found elasticity’s ranging from 0.65 to 1.53. a. Explain the concept of elasticity of demand and the factors that affect it. Answer:- From the decision-making perspective, the firm needs to know effect of changes in any of the independent variables in the demand function on the quantity demanded. Some of these variables are under the control of management, such as price, advertising, product quality, and customer service. For these variables, management must know the effects of changes on quantity to assess the desirability of institution the change. Other variables, including income price of competitor’s products, and expectations of consumers regarding future prices, are outside the direct control of the firm. Nevertheless, effective forecasting of demand requires that the firm be able to measure the impact of changes in these variables on the quantity demanded. The most common used measure of the responsiveness of the quantity demanded to changes in any of the variables that influence the demand function is elasticity. In general, elasticity may be through of as a ratio of the percentage(%) change in one quantity(or variable) to the percentage(%) change in another, ceteris paribus(all other things remain unchanged). In other words, how responsive in some dependent variable to change in a particular variable? With these in mind, we define the price elasticity of demand(Ed) as the ratio of the percentage (%) change in quantity demanded to a percentage (%) change in price. Where [pic]Q= Change in quantity demanded [pic]P= Change in Price Because of the normal inverse relationship between price and quantity demanded, the sign of the price coefficient will usually be negative. Occasionally, price elasticity’s are referred to as absolute values. The use of absolute values will be indicates where appropriate. Problems result when calculating elasticity if initial prices and quantities are used as bases, so economists typically use midpoint bases. The price-elasticity of demand is negative but, for convenience, we use absolute values to avoid the negative sign. If price elasticity is less than one, then demand is relatively unresponsive to changes in price and is said to be inelastic. If elasticity is greater than one, demand is very responsive to price changes and is elastic. Demand is unitarily elastic if the elasticity coefficient equals one. Elasticity, price changes, and total revenues (expenditures) are related in the following manner: If demand is inelastic (elastic) and price increases (falls), total revenue will rise. If demand is elastic (inelastic) and price rises (falls), total revenue (expenditures) will fall. If demand is unitarily elastic (ed = 1), total revenue will be unaffected by price changes. The number and quality of substitutes, the proportion of the total budget spent, and the length of time considered are three important determinants of the elasticity of demand. Demand is more elastic the more substitutes are available, the more of the budget the item consumes, and the longer the time frame considered. Along any negatively sloped linear demand curve, parts of the curve will be elastic, unitarily elastic, and inelastic. The price-elasticity of demand rises as the price rises. Factors Affecting the Elasticity of Demand:- Availability of Substitutes- The most important determinant of the price elasticity of demand is the availability and closeness of substitutes. The greater the number of substitute goods, the more price elastic is the demand for a product because a customer can easily shift to a substitute goods if the price of a product in question increases. Durable Goods- The demand for durable goods tends to be more price elastic than the demand for nondurable. This is true because of the ready availability of a relatively inexpensive substitute in many cases; that is repairing a worn-out durable good, such as a television, car, or refrigerator, rather than buying a new one. Consumer of durable goods is often in a position to wait for a more favorable price, a sale, or a special deal when buying these items. This accounts for some of the volatility in the demand for durable goods. Relative Size of Expenditures- The demand for relatively high-priced goods tends to be more price elastic than the demand for inexpensive items. This is true because expensive items account for a greater portion of a person’s income and potential expenditures than do low-priced. Consequently, we would expect the demand for automobiles to be more price elastic than demand for children’s toys. Time Frame of Analysis- Over time, the demand for many products tends to become more elastic because of the increase in the number of effective substitutes that become available. For example, in the short run, the demand for gasoline may be relatively price inelastic because the only available alternatives are not talking a trip or using some from of public transportation. Over time, as consumer replaces their cars, they find another excellent substitute for gasoline- namely, more fuel-efficient vehicles. Also, other product alternatives may come available, such as electric cars or cars powered by natural gas or coal. b. Interpret the meaning of David Blake’s demand estimate ranging from .65 to 1.53.Explain the significance of demand elasticity in taking business decision. Answer:- McDonald believed that, 4% reduction in price would increase sales by 16% therefore, 1% reduction in price would increase sales by 4% So, PED = 4 McDonald believed that PED was only Elastic. He did not consider the Rich end of the buyers who may not be much affected by this change. Thus PED should be Inelastic for them. The Middle Class buyers would get a chance to buy Automobiles at lower prices. So the sales would be high for some times. But, in time, as the Factors affecting Elasticity comes in action, sales may go down or not in future. Blake, on the other hand, referred to statistical studies that considered both ends of the buyers (Range on the Demand Curve, where Elasticity was both greater and smaller than 1) and also other Factors of Elasticity. For Long term offer, it considered the Factors of Elasticity and consecutive steps taken by the competitive Automobile companies. As a result, the Range of Elasticity was: PED = 0.5 (Inelastic for Rich) to 1.5 (Elastic for others) Average = 1.0 For Short term offer, it was affected less by the Factors of Elasticity. As a result, the Range of Elasticity was: PED = 0.65 (Inelastic for Rich) to 1.53 (Elastic for others) Average = 1.09 So Elasticity is more on the Short Run offer.

Impact of foreign institutional investors on Indian stock market

Impact of foreign institutional investors on Indian stock market CHAPTER 1 Generalities of Study Introduction In the initial period the economic growth of all the countries were started by government planning and action by developing the agricultural, manufacturing and the infrastructure facilities of the country. Though these facilities were adequate for the economy but it didnt boost the domestic growth of the country as it did not lead to much saving or any further investment. Since these domestic savings were inadequate, countries had to depend on the loans from different countries for the development of their country through different public organisations. This led to growth of economies by increased foreign investments which came in the form of overseas loans. Foreign capital plays a significant role in the development of any economy. It fills the gap between domestic savings and its required investment for growth. But this investment limited the scope of growth as loans were not easily available. So countries induced foreign investments by allowing them to invest in the companies list ed on stock markets to a major extent. This led to development of stock markets. Stock Markets initially were just a way for people to invest their money into different companies and they were not that big. But as of today they have become an important part in the growth process of any country. Due to development of stock markets, economies are getting globalised and world is getting smaller. Hence the significance of stock markets has grown above leaps and bounds. As of today the Gross Domestic Production of a country largely depends on stock markets. As a result each country is trying to enhance its stock markets in order to attract foreign investments and to boost the growth process of their own country. The best decision of the century has been the financial liberalisation of the equity markets all over the world which gave opportunity for foreign investors to invest in domestic markets especially of the emerging economies. According to Lalitha, S (1992), the main reason for opening stock market for FIIs was to attract foreign investments and stop country from raising more debts. According to Cerny (2004), the behaviour of stock market is affected by the globalisation of the world economy. The Foreign Investors are eyeing these days on the Asian markets specially India due to many obvious reasons. First of all growth potential in Asian Markets is higher, secondly its cheaper in countries like India to invest as the costs are low, thirdly there is a higher investor base and fourthly mostly the Asian economies are developing and hence the Governments are welcoming to Foreign investors as they play a major role in boosting the growth of the country. Now the question that arises is who are Foreign Institutional Investors? According to SEBI, FII means an entity which is established or incorporated outside India and which proposes to make investments in India. According to Sehgal and Tripathi (2009) FIIs are speculators instead of investors as they tend to invest in stock for short term and after attaining short term gains they tend to move away to different company and this might lead to volatility in stock prices and may lead to financial crisis. FIIs investments in stock market increases volatility in market due to excessive liquidity but it also leads improvement in value of stocks. According to Choe et al., (1999) Froot et al., (2001) Griffins et al., (2002), Foreign Investors run after returns from stocks, in a way they will buy shares in those companies whose returns they expect to be high. According to Syste et al. (2003), Foreign Investors invest in large liquid companies which enable them to exit quickly at lower cost. Another research by Prasana (2008) Foreign Institutional Investors have been eyeing on Indian Markets because of the positive fundamentals of the economy and potential to grow fast. Since foreign investors are freely available and are unpredictable, therefore FIIs are always on look out for profit. FIIs move their investments regularly and because of these swings there is a tendency to be fluctuations in prices and hence increased volatility in the market. Another study by Clark and Berko (1997) finds that stock prices rises due to increase in capital flows by foreign institutional investors but they could not conclude that the rise in pri ces are for short term or for long term. Another finding which indicates positivity of presence of FIIs was produced by Banaji (2000). According to him, due to presence of FIIs in Indian market there has been improved transparency in the procedures, automation and regulations regarding disclosure and reporting standards were initiated. So it becomes the necessity to study the Impact Foreign Institutional Investors have on Indian Stock Market. Background of Indian Economy India was ruled for nearly 200 years by British rule and in 1947 it gained its independence.( http://www.iloveindia.com/history/modern-history/british-india.html) So the growth of India has come in the last 60 years in which Indian economy has been thriving to set its foothold in the world. Under the British rule India was mainly dependent on its agricultural production and few basic industries were in existence as in textile industry which was basically for the benefit of the British colony to support them in their trade for European goods by exporting Indian basic agricultural goods and textile manufactures. After Independence, India carried on with its policy of attaining self sufficiency and closed the doors for the foreign investors. But this policy of government limited the growth of economy. So in order to finance the needs to economy of providing basic necessities to its citizens and for getting over with the burden of loans as the foreign reserves were at their all time low, Government of India took support from World Bank and International Monetary Fund to get the country on to revival path. These organisations agreed to help Indian economy on the condition that they will allow foreign investors to enter India. So basically a reform process was initiated in India after balance of payment crisis of 1991 which was recommended by M. Narsimham, chairman of committee of financial system. This became starting point of deregulation of financial sector and development of various sectors of financial markets. This resulted in significant changes in Indian market from dull to highly buoyant stock market. As a result Indian markets were opened to foreign institutional investors in September 1992 and this event led to effective globalising of the financial services and since then the Foreign Institutional Investments have been rising positively year on year. These investments helped India in developing infrastructural facilities which were necessary for the growth of the country. These investments were led due to increasing confidence in Indian stock markets which were based on strong macro-economic fundamentals of the economy, abolition of long term capital gain tax, improved performance of Indian com panies and transparency in the regulatory system. The opening up of markets for foreign investors had its own pros and cons. Pros of financial liberalisation are that firstly stock markets had to improve its trading mechanism and match up to world standards and secondly with the presence of foreign investors, information system saw a drastic change. Con of financial liberalisation was that it brought destabilisation in the economy and increased more volatility in stock movements. But overall it increased confidence of foreign investors in Indian stock market. The last two decades has led to growing participation of Institutional Investors which includes not only the foreign Institutional investments but also investments by domestic institutional investors. Indian economy has been an attractive avenue for foreign investors as nearly 16% of the world population lives in India and also India has joined the elite club of 12 countries to cross trillion dollar economy. Other countries which have in past breached this trillion dollar economy mark in the past includes countries like U.S, Japan, Germany, China, France, U.K, Italy, Spain, Canada, Brazil and Russia. Besides this countrys stock Market capitalisation has also risen to $944 billion which is close to trillion dollar level. As per Credit Suisse Report, stock markets have risen in eight out of ten countries after reaching this mark. Foreign Institutions have played a major role in Foreign Investments in India which resulted in changing the face of Indian Stock Market. According to M Puri, ICICI Securities Chief, ( 2009) India has been looked upon as the safest destination for foreign investors. Foreign Institutional Investors are the companies which are registered outside India. They are registered with Securities and Exchange Board of India and they are guided by SEBI in participating in stock market through limits placed by it. The major source of their investment in Indian Stock market is through Participatory notes which are almost 50% of the money invested in markets. The disadvantage of participatory notes is that the investor is anonymous and hence it could be an investment by any organisation including terrorist organisations. Foreign Institutional Investors have invested more than $41trillion of funds in India in the past four years which resulted in bull market witnessing unprecedented growth with BSE Sensex rising in absolute terms. India has witnessed over a decade of FIIs portfolio flows and these flows have gained significance and have played a key role in the overall Indian Economy. The impact of foreign investments in India is significant. The increasing role of Institutional investors led to both qualitative and quantitative developments in Indian Stock Markets. The Foreign institutional investors has also impacted the domestic investors to a large extent in the sense that if FIIs sell the stocks then there is a situation of panic created among the domestic investors and they tend to sell as well. Hence there is a need to study its impact on Indian companies and economy in general taking into consideration all the factors affecting movement of stocks on Indian Stock Market. Significance of Study Indian economy is growing at a very fast pace. Most of the FIIs are investing in India due to its significant growth. These FIIs though they are investing in the country, they not only invest for profit they also are affecting the movement of stocks in stock markets. Hence they are impacting the stock market in a large way which is an important perimeter of the Indian economy as it contributes to the growth process of Indian Economy. So it is significant to study the impact of Foreign Institutional Investments on Indian Stock Market. Objectives of Study The main objectives of study are: To analyse the impact of FIIs investments on the shareholding pattern of Stock exchange companies. To find way to reduce risk associated with investing in stock market and to know when to exit. To look for investment opportunities CHAPTER 2 Review of Literature and Studies Determinants of FIIs Foreign Institutional Investors play a major role in the economic growth of India. Their impact is significant even though their market capitalisation is not much and is improving year on year. Several attempts have been made to understand the impact FIIs have on Indian Stock markets. According to Aggarwal 1997, Chakrabarti 2001 and Trivedi and Nair 2003(cited in Rai and Bhanumurthy) equity returns have positive impact on FIIs. But Gordon and Gupta,2003 ( as citied in Rai and Bhanumurthy) contradict by saying that foreign investors are here for earning profits, they invest in a company and make the price go up as other investors follow and then book their profits and leave. So it can be said that there is a bidirectional relationship between FIIs and equity return. After the bursting of infotech bubble in 1998 and Asian crisis, Chakrabarti (2001) analysed and found a shift in regime in the determinants of FIIs. He analysed that before the Asian crisis, any change in investment pattern by FIIs had a positive impact on equity returns but after Asian Crisis he found that if there is a change in equity return then the behaviour of FIIs change. But Trivedi and Nair (2003) are of a different view point, they feel that any investments made depend a lot on the risk associated with it. They further divide realised risk into two factors, ex-ante and unexpected risk. According to them, ex-ante risk is negatively related to FIIs whereas the relation of FII with unexpected risk is not certain. This is because uncertain activities can bring unimaginable loss or gain depending on the situation. Take for example U.S subprime crisis. Those crises were unexpected and they led to unexpected movement in stock markets and FIIs activity. Studies in the past have concluded that the return in source country and inflation in that country doesnt exert pressure on FII. But this theory has been contradicted by the recent subprime recession in US which led to most of FIIs withdrawing their investments in order to cope up with crisis in their own country. Hence if stock markets of foreign investors home country are doing well and there is stability in their economy then it leads to a positive impact on the investments by FIIs. According to Aggarwal 1997 (as cited in Rai and Bhanumurthy 2004) world stock market capitalisation has a positive impact on growth of FIIs in India. According to literature survey shows that most of the existing studies do not reflect the effect of stock volatility and also they do not account for realised risks in foreign and domestic markets. Another observation by Ahmadjian and Robbins (2005) after analysing firms in Japanese economy showed that foreign investors are more inclined towards profit making than going in for long term ownership. They tend to make money and move away towards other company. Investment Preferences of FIIs According to Douma, Pallathiatta and Kabir (2006) there is a positive impact of foreign ownership on firm performance and especially on the emerging economies. They also found the impact on business group affiliations of FIIs But FIIs dont invest in any firm, they invest in those firms which have good corporate governance as the firms with poor corporate governance are least protective about the investors and instead they are concerned about their own interest only, this was observed by Aggarwal, Klapper and Wysocki (2005). According to them companies which are controlled by block of shareholders they find it difficult to find external investors as they are derived by private benefits and may manipulate things accordingly. This was already concluded by Cho and Padmanabhan 2001 (as cited in Prasana 2008) that block shareholders influence firm performance. They also said that corporate governance of listed companies play an important role in attracting foreign investments. They also cl arified that block shareholders mean basically businesses run by family groups and distinguished them from times when government acts as block shareholders; they act quiet differently from private investors. Bhanumurthy and Rai (2003) made an attempt to examine the determinants of FIIs by using the monthly data from January 1994- November 2002 by analyzing the effect of return, risk and inflation in domestic and foreign economy. They firstly calculate the domestic and foreign returns from daily returns on BSE Sensex and SP 500. After the analyses they find out that FIIs inflow depend on stock market returns, inflation rate and Ex-ante risk. According to Yin-Hua and Woidtke 2005 (cited in Prasana 2008) investors protection is weak when company board is dominated by members of controlling family and it gets difficult to separate the ownership from management then firm value is inversely related to family ownership firms. Their view was supported by Choe, Kho, Stulz (2005) who analysed US investors and concluded that they hold fewer shares in companies where ownership structure is more conducive to insiders. Another observation by LI (2005) was that if there was poor corporate governance then foreign investors tend to prefer other route of Foreign Direct Investment instead as Foreign Institutional Investors. Going further in accessing the information on firm ownership, Leuz, Nanda and Wyoscki (2003) assessed the firm level characteristics and found family control increases insider trading which gives less benefit to foreign investors. They were supported by Haw, Hu, Hwang and Wu (2004) who concluded that firm level charact eristics cause information asymmetry problems for FIIs. In order to analyse the investment preferences of FIIs, Dahlquist et al (2003) analysed the foreign ownership and firm characteristics of Swedish Stock Market and they concluded that FIIs prefer firms which are large, pay low dividends and have a huge cash holdings. Whereas Covirg et al (2007) were of the view that foreign managers have comparatively less information than domestic managers and hence they concern FIIs preference to be based on size of sales and stocks which are listed on foreign soil. According to Li and Jeong-Bon 2004 (as cited in Prasana 2008), FIIs are in a better position to analyse the public information and hence they tend to avoid stocks with high cross-corporate holdings whereas according to Morin 2000 (as cited in Prasana 2008) as they analysed the French model of shareholding and management of FII pattern concluded that France has undergone a rapid change and has gone away with the traditional system of FII holding and facilitated with new techniques which demands corporate management. Stock Market Volatility Research by Forbes and Rigobon (2002), Bekaert, Harvey and Lumsdaine (2002a,b) , Edwards (2000) and others focussed on stock market volatility concentrating on moving of volatilities among different economies and also of the financial crisis which happened thereafter. Bakaert and Harvey 2000 (as cited in Batra 2004) analysed equity returns of a group of emerging markets before and after financial reforms. According to Aggarwal, Inclan and Leal 1999 (as cited in Batra 2004) local events and happenings make the stock markets to turn volatile in emerging economies. In order to draw this conclusion they analysed emerging stock markets for volatility for period of 1985-95 and by using ICSS algorithm they identified points of sudden change when some event occurred or when there was large movement in stock market volatility. They calculated the variance at each point. According to De Santis and Imrohoroglu 1997 (cited in Ranjan Kumar Dash and Sumanjeet Singh) studied the behaviour of volati lity in emerging markets and the effect of liberalisation on financial markets and concluded that volatility decreased after liberalisation. Their study was contradicted by Singh (1993), Grabel (1995), Levine and Zervous (1998), Kamminsky and Schmickler (2001 and 2003), Nission (2002) and Edwards et al. 2003 (cited in Ranjan Kumar Dash and Sumanjeet Singh) by saying that financial liberalisation increases stock market volatility. In Indian context, Samal 1997 and Pal 1998 (cited in Ranjan Kumar Dash and Sumanjeet Singh) found that FIIs investment is the major source of volatility whereas stock market volatility was lower in liberalized economy. This view was supported by Richards 1996 who took three different methodologies and two different sets of data to calculate the volatility in emerging markets and came with the conclusion that there was no empirical evidence which supports that liberalization of economy increases volatility in stock markets. Hamao and Mei 2001(as cited in Batra 2004) examined Japanese market at a time when foreign portfolio investments in Japan were small and found no proper evidence to prove that foreign investments tend to increase volatility more than increase in volatility due to domestic investors. Folkerts Landau and Ito 1995 (as cited in Batra 2004) computed market volatility in emerging economies at different periods in which there was a difference in flow of portfolio and found in case of Mexico that stock prices were less volatile when Foreign flows were more volatile and vice versa for Hong Kong. According to Nilsson (2002) by using Markov regime switching model in Nordic Stock markets, liberalisation in stock markets leads to increase in volatility. Nilsson also evidenced that higher volatility and higher expected returns have strong links with international stock markets. Considerable attention has been paid these days to stock market volatility and especially after global recession. Stock Markets had been highly volatile in emerging markets like India and its study becomes important. Investment strategies of FIIs There has been a considerable amount of research done on the investment strategies of FIIs which show the Positive feedback and herding strategies being followed by FIIs. Research done by Lakonishok, Shleifer and Vishny (LSV) 1992(cited in Sehgal and Tripathi 2009) looked at the investment behaviour of 769 US tax exempt equity funds managed by 341 money managers for the period of 1985 to 1989. They concluded that there was no herding by money managers but it was prevailing in the behaviour of stock prices of small companies than in large companies. The reason given by LSV is that information on large stocks is easily available whereas small companies do not provide much information to public, so money managers look at the investments by other big investors into small stock and follow them. According to LSV, it is difficult to find the effect of herding as at times a small amount of herding can bring significant movement in stock prices. An argument was put forward by Dornbusch and P ark (1995) that foreign investors follow positive feedback strategy which leads to stock unusual movement in stock prices. Wermers 1998 (cited in Sehgal and Tripathi 2009) used LSV measures to check the presence of herding among mutual funds. He took the quarterly data of mutual funds from 1975 till 1994 and concluded that mutual funds showed existence of herding. He also analysed stocks and concluded that herding among those stocks tend to be higher which had reported higher amounts stock returns in the previous quarter. He concluded that investors buy those stocks which had good returns in the previous quarter and sell those stocks which had poor quarterly results. After computing average level of herding by Wermers model it was concluded that herding is more in mutual funds than in stocks. But after analysis of trading behaviour of large pool of mutual funds it was found that the herding behaviour in fact reduces in mutual funds and it was justified as large pool of mutual funds carry stock which have large amount of capitalisation and companies with large capitalisation tend not to do any herding. A nother analysis by Bonser- Neal et al 2002 (cited in Sehgal and Tripathi 2009) analysed the foreign trading behaviour on Jakarta Stock exchange between 1995 and 2000 and found positive feedback trading and herding by foreign investors but they didnt find any evidence indicating destabilising of markets due to foreign investors during Asian crisis. Richards 2002 (cited in Sehgal and Tripathi 2009) used data pertaining to net purchases by foreign investors in six Asian emerging markets over 1999-2001 and found an evidence of positive feedback trading. According to Kim and Wei (2002) foreign investors who live outside Korea are more likely to indulge in positive feedback trading and herding strategies as compared to their branches and subsidiaries who are living in Korea or any foreign national staying in Korea. According to them this difference in trading behaviour arises due to different kind of processing of information by those living outside Korea than those living inside. CHAPTER 3 Data and Methodology Research Methodology and Design According to Collis and Hussey (2003), Methodology refers to overall approach to research process which includes underpinning of theory, collection of data and analysing it. However the research process adopted depends to a great extent on the approach taken by the researcher. Research design is the general plan of how to go about answering the research question. It gives the logic behind every interpretation. Due to nature of research carried out the prime focus has been on gathering the secondary data which is relevant to analysis being carried out. According to Collis and Hussey (2003), there are two main paradigms of research that is qualitative and quantitative. Qualitative research is followed by those people who have phenomenological bent as it deals with understanding the behaviour of human beings. Therefore it is also known as Phenomenological Paradigm. On the other hand Quantitative research refers to those who relate to positive view of the world and therefore this kind of research is also called as Positivistic Paradigm. Positivistic paradigm is used basically in natural sciences as this approach gathers facts with subjectivity of the nature of research and individual bias. For the purpose of research both qualitative and quantitative data will form part. Qualitative Data: this data has been collected by: Studying into the certain days on which markets fluctuated in upside or downside direction to a great extent Studying the changes in regulations by the Securities and Exchange Board of India in relation to foreign institutional investors. Studying the behavior of domestic investors and other factors affecting the market. Studying the basis on which the foreign institutional investors entered Indian Stock Market and there enter and exit strategy and its impact on Indian economy. Quantitative Data: this data has been collected by: Studying the market capitalization of foreign institutional investors and their cumulative effect on stock market Looking in the growth of number of institutional investors and the share of their investments year on year. The research onion below in the diagram gives an overview, how to achieve the objectives by using the techniques in each layer of the onion. In order to carry on with the research each onion of the Research Onion has been peeled systematically so as to get in the right direction. The philosophy adopted for the purpose of research is Positivism philosophy as research has been undertaken mostly from the data already published in journals, articles, previous researches etc. Approach taken by the researcher is mainly inductive as maximum data is qualitative and it has been of utmost importance to cover every aspect of research. Researcher has taken the case study strategy to analyse the data. The Researcher has used Mixed Method research choice in the sense the data collected comprises of both qualitative and quantitative data. The time horizon for research has been longitudinal as this research has been carried on after observing the behaviour of stock markets over a long period of time and on happening of any event. While carrying out the research it has been kept in mind that the research objectives and the characteristics of the information collected match. In order to analyse the Impact of FIIs on Indian Stock market, a thorough research has been done from different sources which includes RBI and SEBI publications, newspaper articles, journals, previous research done on the topic and also from internet. For the purpose of our research study we are looking into the data till financial year 2008-09. Limitations of Study: This study has been taken during the time when impact of recession has not been fully analysed and its exact nature and impact on the movement of stock markets and Financial Institutional Investors cannot be justified as it is a global recession. So research may miss out some of the implications of recession and may not correlate to impact which FIIs may have during the normal market conditions. Data has been collected mostly through online source. It was not possible to conduct personnel interviews with top brokers in India due to distance barriers. Hence the findings and analysis has been derived on the basis of data available online. Summary of Research: The majority of this research is conducted by making use of secondary sources of data which includes journals, articles, books, magazines, newspapers, Internet and other electronic sources. The research in this area has already been conducted but the purpose of this research is to generate new ideas and to gain further understanding into the subject by looking into each and every detail of it. This research is conducted at the time of recession, the condition which was not prevalent earlier, so it is expected to bring new concepts and theories into existent and it will also over rule some of the studies that have already been conducted. CHAPTER 4 Analysis of Indian Stock Market Overview of Indian Stock Market Stock markets were first introduced to India in 1875 as a non profit making organisation. Bombay Stock exchange is the oldest stock market in whole Asia. Stocks in India are traded on the stock exchanges which are around 23 which includes Bombay Stock Exchange and National Stock Exchange. Stock exchange is a corporation which provides its brokers to trade stocks of companies which are listed with them. The organisation of Stock Exchange, its systems and practices are regulated by Securities Contract, (Regulation) Act (SC(R) ACT), 1956.They are highly efficient organisations which have led to growth of securities market. Stock exchanges trade securities which include shares, unit trust, pooled investments and also bonds which are listed on them. Members of the stock exchange act as its agents as they are only allowed to trade on behalf of their customers who pay brokerage to them for the services provided by them. Stock exchanges also provide plenty of services as in issuing and redee ming shares and also in payment of dividends to its shareholders through its participants or members. Stock exchanges are important even though it is not necessary to issue shares via stock exchange. Shares are normally issued through Initial Public Offering (IPO). Stock exchanges play a major role in the economy as of today as they help with expansion plans of the country by mobilising the savings to investments and also by redistributing wealth among the economy. Stock exchanges maintains the records of all the shareholders at one central location but shares that are traded on stock exchange they are not dependent on that central location as the computerisation has made it easier to trade stocks. All stock exchanges have become an important part of world market for securities as global investors can invest in any market from anywhere. Importance of Stock Markets in India: Stock markets play an important role in the economy as they are now the financial indicators of growth in any country. They represent the crux of functioning of all the sectors of country. NSE NIFTY comprises of 50 top Indian companies from each sector and BSE SENSEX comprises of 30 companies from all the sectors. The following points describe the role stock markets play in India: Improving Corporate Governance: Since Stock markets are regulated by SEBI, companies are bound to follow the rules and regulations in order to have a good market value of their stocks on stock markets. This is possible only if they keep their shareholders satisfied. So they

The Effects of Jacksonian Democracy :: essays research papers

When John Quincy Adams was elected to the office of president of the United States in 1824, â€Å"hot headed† Jackson was infuriated. He started a campaign that would land him in the Whitehouse in 1828. With his place in office brought profound political change to America, and a direct effect that would last for the next 20 years after his two terms, until 1848. This time in American History is known as the Jacksonian Period, commonly referred to as the era of the â€Å"common Man.† It is reform movements and economic development that characterize this era. One of the reasons for the growth of the US economy was Jefferson's Embargo Act, which halted trade with all foreign countries, and forced the country to industrialize, by forcing it to produce goods domestically it would normally import. A classic case of "supply and demand" was seen by this growth of the factory system and industry; as the demand for more factories increased, the labor supply decreased, inciting a need for factory owners to hire more workers. Many of these workers were filled from the immigrant and middle class. Shifting roles in society, young women as well as children worked and lived at factories, during which they were overworked and underpaid. After earning enough to aid add sufficiently to the family income, the women left work at the factory, and back to their roles as housewives and child rearers. Along with Whitney's cotton gin, inventions in society came about. This was a stark contrast to pre Jacksonian rule out of which few inventions came: The decade ending in 1800 saw only 306 patents, while the decade ending in 1860 saw 26,000 patents. Elias Howe and Isaac Singer contributed to the clothing industry with their 1846 invention of the sewing machine. This contributed to northern industrialization, and when combined with the power of steam to produce an automatic sewing machine, it was capable of producing clothing on its own in large quantities with little supervision. John Deere helped to revolutionize farming once more with his invention of the steel plow in 1837. This plow enabled the "virgin soil" of Western lands to be broken, furthering agriculture. It was also light enough to be horse-drawn, which meant it was easily maneuverable. Cyrus McCormick's 1831 horse-drawn grass reaper enabled one man to do the work of five. This caused an abundance of c ash crops to be produced.

Teachers Need to Feel Empowered and in Control of their Career Essay

What does 2.0 look like? I became a teacher when spiders spun webs and a library teacher when the Internet was accessed through the telephone. I was an early adopter and adapter of everything 1.0. I embraced the magic of the CD-Rom, remember Encyclopedia Encarta. What a revelation. I became a librarian the same year that the card catalogue was replaced by lookup stations. I have no idea about creating a title, subject or author card but boy can I come up with the perfect key words for a Boolean search. During the days of Web 1.0 I taught students who were just as awed by computers and astounded with the Internet as I was. Together we explored this new digital world. Today the digital natives look upon computers and the Internet as a ubiquitous component of school and education. I understand. That’s all they have known. I know that I need to continue to embrace the new technologies. I need to continue to be on the cutting edge, be aware of the newest and coolest, what is the n ext Twitter, Facebook or YouTube and, most importantly, how can this technology be used to impact student learning. To that end I am a teacher leader in the area of technology. If a volunteer is needed for a presentation I’m the one. This year I have used Prezi to present copyright law to my staff at school. I have also coordinated building-wide training for district wide tech competencies assessment. I have been on the school’s technology leadership team since the school opened. I see myself as a leader in the field of technology integration. In order to help students and staff keep current with the software and now apps, that are available. I have embraced LibGuides a data management program that has revolutionized the old library pathfinders and web quest... ...ally policy, but also best teaching practices. These conferences have empowered me to take on these leadership roles in my school district and local NEA association. My primary objective after any of these professional growth experiences is to share them with my colleagues. And to that end I make it a practice to mentor new educators. I am also guide the students to think of the field of education as a valid career choice. I am concerned that with the negative image of education and educators, the poor economic climate that our smartest and gifted students and new teachers will not consider a career as a teacher, or continue in that career. I believe that if teachers feel empowered and in control of their career they will not only remain in education they will make a difference in the life of a child. And they will continue in this worthwhile and important career.

Herois Tradition throughout British Literature :: essays papers

Herois Tradition throughout British Literature Throughout British Literature, there are many instances of heroism. To be considered a hero by others in the time period of 449 to 1625, you must be, â€Å"noted for feats of courage or nobility of purpose: especially, one who has risked or sacrificed his life† (Morris 618). Four characters in British Literature that portray heroic traits are Beowulf, Sir Gawain, Macbeth, and the Knight of The Canterbury Tales. Beowulf shows himself worthy of the title of being a hero when he leaves his country to help a neighboring country, Denmark and rid them of the long lasting fear of a malicious monster known as Grendel. Sir Gawain is considered a hero by many because of his loyalty to King Arthur. He even risks his life so that King Arthur would live and participates in the Green Knights challenge. Although Macbeth has got a few more faults than other heroes have in British Literature, his name is still synonymous with â€Å"hero†. Aristotle says â€Å"the tragic hero has to fa ll from grace †¦ after being on top† (Chui 1). Before the three witches tell Macbeth the false prophecies, Macbeth is in held is high accord, yet afterwards, his ambition tears him down and he does anything it takes gain the role of King. The Knight, from The Canterbury Tales, excels beyond all others when it comes to being a hero. He is the most loyal and is admired by the other characters for his courage, bravery in battle and his exploits in war. He is on a religious pilgrimage not to make money or any other avaricious deed that the other characters are on the pilgrimage for, he is on the pilgrimage to worship God, which is also honored by his peers as being heroic. All four characters mentioned have heroic traits and they all are considered heroes. Although they might gain their title in different ways and for the wrong reasons, they are truly heroes. In British Literature, many stories have been influenced by the heroic traditions of their time period. The characters , although in different stories, all portray the heroic tradition in British Literature. The character Beowulf, â€Å"a man of great strength and bravery† (Magill 388), is a hero in the way he defends his neighboring country, Denmark. When the word that a hostile creature, known as Grendel, was killing tons in Denmark, Beowulf set sail to help defend the people and rid them of the hideous monster.

Factors Affecting Employee Productivity

When we say employee efficiency this means the employee characteristics and also relates to the speed and accuracy of an employee against the role, job and duties. Employee productivity underpins employee efficiency wherein the more efficient employees are the more productive they will be especially when managed correctly. Employee productivity creates an environment that encourages effective performance and hence essential in management of human capital function.In maximising employee productivity, there is the need to focus on areas of personal motivation and the infrastructure of the work environment, both of which form factor that affect the employee productivity. While the most obvious motivating factor for employee factor is often thought to be based on salary and promotions, this may not always be the case. The question is: what makes employee work harder? 2. 0 Statement of the problem While workers are on the job, they do not produce more simply because they are being paid to do such.This is said to be human nature that is triggered by different factors. This study aims to understand these different factors affecting employee productivity. In particular, the study will determine the factors that are affecting the productivity of Ghanaian workers working in fast food chains. With this, the following questions will be given answer to: 1) What are the factors that influence Ghanaian workers to work even harder while in the workplace? ) Specifically, what are the factors that affect their works positively and negatively? 3) How do they perceive their immediate managers to motivate them to work harder? 4) Are their workplaces and/or work environment can be considered productive for them to align their productivity with such? 3. 0 Aims and objectives The main aim of the study is to explore the various factors that influence and affect the productivity of Ghanaian workers who work in fast food chains. There could be positive and negative factors influencing su ch.In lieu with this, the following specific objectives will be addressed: †¢ To determine the nature and dynamics of employee productivity in Ghana and in fast food industry †¢ To distinguish the different perceptions of Ghanaian workers on various influences to own productivity 4. 0 Overview of methodologies Primary and secondary research will be conducted in the study. In primary research, the study will survey Ghanaian workers who work in fast food chains that are generally private.A structured questionnaire will be developed and it will be used as the survey tool for the study. It is planned that the questionnaire will have a 5 point Likert Scale, as well as ranking questions. Data on both medium will be compared and evaluated using SPSS. Aside from survey, a secondary research will also be conducted in the study. Sources in secondary research will include previous research reports, newspaper, magazine and journal content, organization statistics, etc.Sometimes, secon dary research is required in the preliminary stages of research to determine what is known already and what new data are required, or to inform research design. In this paper, existing findings on journals and existing knowledge on books will be used as secondary research. The findings from the journals and books will be evaluated in the data analysis. Types of research journals chosen are all related to issues in advertisements. Basically, interpretation will be conducted which can account as qualitative in nature.Read more: http://ivythesis.typepad.com/term_paper_topics/2010/10/factors-affecting-employee-productivity-case-study-of-private-ghanaian-workers-working-in-fast-food-chains.html#ixzz1H9R8haOi

Experiment with Diffusion Essay

Introduction The movement of molecules from an area of greater concentration to an area of less concentration is called Diffusion. Osmosis is the diffusion of water through a selectively permeable membrane from an area with greater concentration of water to an area with less concentration. A Hypertonic Solution is a solution of a higher concentration of solutes and a smaller concentration of water molecules than another solution. However, an Isotonic Solution is a solution that contains an equal concentration of solutes and of water molecules, the same as another solution. A solution that contains a lower concentration of solutes and a higher concentration of water molecules than another solution is called a Hypotonic Solution. A cell that has a Selectively Permeable Membrane has a plasma membrane that allows certain substances to pass through more readily than others. From this I have come up with a hypothesis of what will happen with the 2 bags. The one containing fresh water and put into salt water will lose weight, based on a Hypertonic Solution stated above. However, the bag containing salt water and put in fresh water will gain weight based on the Hypotonic Solution also stated above. Procedure 1.First we folded one side of the membrane-like bag we were given and tied it shut over the folded part. 2.Then we filled it 2/3 full of freshwater and tied the other end shut, and weighed it. 3.Next we weighed it and put the bag into the saltwater. 4.After that, we did Steps 1, 2, and 3, except, we filled the bag 2/3 full with saltwater, weighed it, and put it into freshwater. 5.After about 30 minutes we went back and took both bags out and weighed them. Results Before we placed the bags in the salt and fresh water we weighed them. The bag filled with freshwater weighed 18.3 grams and the bag containing the saltwater weighed about 23.9 grams. After they had soaked in their rightful waters for about half an hour we weighed them again. The freshwater weighed 16.2 grams and had sustained an 8.9% decrease of weight. The saltwater weighed 25.1 grams and had attained a 9.5% increase of weight. Conclusion Well, the freshwater bag lost weight through the Hypertonic Solution theorem. Because there was no salt in it, the fresh water left the cell to mix with the salt outside its cell. No salt molecules could get in, in return. The saltwater bag had gained weight during the 30 minute time period. It had done this through the Hypotonic Solution theorem. The freshwater outside the bag(cell) had entered it because there weren’t many water molecules inside the cell. Causing the bag filled with saltwater to gain weight.

Isolation in American Literature Essay

The individual and his role in society, based on American Literature, is portrayed through many different characters, all sharing the same feelings of isolation. The feeling of isolation, in reference to Huckleberry Finn , is a choice that Huck Finn brings on himself. Throughout rebellion towards his father, Huck tries to find his true self by isolating himself from societies views and beliefs. In the novel Great Gatsby , by F. Scoot Fitzgerald, Jay Gatsby was isolated from the outside world by society. Throughout many examples of American Literature we are aware that isolation was not a pleasurable state of freedom, but more like a state of imprisonment brought on by society. In Steinbeck’s Of Mice and Men, Lenny was isolated by societies fear of difference. Society was prejudice against Lenny’s differences. This caused isolation in both societies standards and in Lenny’s mind. Throughout many images portrayed by American Literature, the recurring theme of isolation is a role that each character takes on based on societies beliefs, views, and prejudices. Isolation played a key role of the character development in Huckleberry Finn. Twain carefully selected ways to show isolation in Huck’s life based on societies views of his adventures, thoughts, and of his feelings toward slavery. Huck’s beliefs in issues that society condoned isolated him from the â€Å"normal† state of living that everyone else practiced. This same view that society cast upon Huck was also thrust upon Jay Gatsby in The Great Gatsby . Because of his wealth and his self-removal from gossip and other immoral issues, that society thrives on, Jay too, was isolated. Maybe this state of seclusion was brought on by society but Nick Carraway demonstrated that, â€Å"Once banishment is brought on by others, it is soon picked up within. † (Fitzgerald, Great; 86) Hester Prinne also demonstrates a state of solitariness, in The Scarlet Letter. After society condemns her actions she goes into seclusion and lives in her own state of peace. This is brought on by societies harsh judgments. This leads to total isolation of their views in Hester’s mind. She knows that there is a difference between her beliefs and societies views of morals. These beliefs, that she has come to accept, yet curse at the same time, cause her to continue to wear the Scarlet letter, but these beliefs also cause her to isolate herself so she is not outcast by society. Lenny Small, in Of Mice and Men , is outcast into a state of seclusion â€Å"all because of societies prejudices and views on living, thinking, and acting. † (Hart, Oxford; 73) Always having a special place for Lenny to run off to and hide when things got tough is another example of isolation. When society didn’t feel something was right with Lenny’s behavior he would go into seclusion and isolate himself from the world. The fact that Lenny Small was not aware of the way people outcast him exhibits another form of isolation. Lenny’s sequestration by society set the overall issue of isolation in Of Mice and Men. Huckleberry Finn isolated himself from society because he rebelled against their ignorant beliefs. Every time Huck changed identifies, he isolated himself even deeper. † The overall character change of Huck Finn demonstrates Twains own rebellion against societies views. † (Scott, Mark; 38) As Huck Finn comes across the different aspects, attitudes, and restrictions of society, he learns to prefer his own individual freedom over societies restrictions. Gatsby is secluded out of both, personal choice, and societies choice. Under his own personal choice of isolation Gatsby seems satisfied, but when the issue of society condemning him arose, the view of isolation seems less appealing. When seclusion by society is made into a recurring theme in Great Gatsby, Jay tries to change his social status and forgets about his moral responsibility. He becomes like all other characters in society that judge and gossip. This new outlook may pull him out of isolation, but in the end it also kills him. The need for social acceptance pulls the trigger that ends Jay Gatsby’s life. Throughout many examples of American Literature, it is apparent that society played a key role in character development. In numerous examples from American Literature we see that society isolated certain characters for being different than the socially accepted person. Authors, such as Mark Twain ( a. k. a. Sammual Clemmens), John Steinbeck, F. Scott Fitzgerald, and Nathanial Hawthorne, portray the best examples of isolation in their classic American literature novels. They show, throughout their novels, that the conflict between society and the individual is based on seclusion, condemnation, but most of all through isolation.

Nursing Practice Act

Nursing Practice Act Being a former nursing student in the state of Pennsylvania I have had the Nursing Practice Act of Pennsylvania. Before this assignment I knew little of the Pennsylvania laws and absolutely none of the state of Florida. Every state has their set of laws, which is referred to the Nursing Practice Act. Every nursing student must have a copy. The nursing practice act ensures that anyone practicing does not fall below the minimum competency and does not present danger to the public, and anyone who does will be prohibited from practicing (Nurse Practice Act, 2007, p. ). Nurses have a legal liability to advocate for patients, and provide safe administration of medications, and provide quality, nursing care to patients without negligence. With this paper I will explain nursing practice, continuing education and it’s requirements, as well as the composition and responsibilities of the state board of nursing. Nursing practice means the performance of those acts req uiring substantial specialized knowledge, judgment, and nursing skill based upon applied principles of psychological, biological, physical, and social sciences (Nurse Practice Act, 2007, p. ). That may sum up nursing but nurses do a lot more. Nurses have a legal liability to advocate for patients, and provide safe administration of medications, and provide quality, nursing care to patients without negligence. They educate the ill, injured, and infirmed. Promote wellness, maintenance of health, and prevention of illness of others. (Nurse Practice Act, 2007, p. 7). â€Å"Advanced or specialized nursing practice† means, in addition to the practice of professional nursing, the performance of advanced-level nursing acts approved by the board.Which by virtue of post-basic specialized education, training, and experience are appropriately performed by an advanced registered nurse practitioner. (Nurse Practice Act, 2007, p. 7). Being a Nurse Practitioner is the closest form of nursing to a doctor. They may perform acts of medical diagnosis and treatment, are able to write prescription, and when approved by the joint committee they can preform an operation. The committee consists of two advanced registered nurse practitioners; three members appointed by the board of medicine, and the State Surgeon general of the department or the State Surgeon General’s designee.All of the acts stated above must be performed under the general supervision of a licensed practitioner (Nurse Practice Act, 2007, p. 7).. (Nurse Practice Act, 2007, p. 7). Once you finally graduate from the nursing program (yay! ) you must take further steps in order to be able to practice. First you need to apply to the department to take your Nclexx. There is an application fee which does not exceed $150. 00, an examination fee set by the board which does not exceed $75. 00, and finally the actual per applicant cost to the department for purchase of the exam from the National Council of State Bo ards of Nursing.Next you will have to provide sufficient information on or after October 1, 1989, which must be submitted by the department for a statewide criminal records correspondence check through the Department of Law Enforcement. You must be in good mental and physical health, is a recipient of a high school diploma or the equivalent, and has completed the requirements for graduation from an approved program, or its equivalent as determined by the board, for the preparation of registered nurses or licensed practical nurses, whichever is applicable.Courses successfully completed in a professional nursing program, which are at least equivalent to a practical nursing program, may be used to satisfy the education requirements for licensure as a licensed practical nurse. You have be able to communicate in the English language, which may be determined by an examination given by the department. Finally, Each applicant who passes the examination and provides proof of meeting the educ ational requirements specified in subsection shall, unless denied pursuant to s. 64. 018, be entitled to licensure as a registered professional nurse or a licensed practical nurse, whichever is applicable. (Nurse Practice Act, 2007, P. 9). In any field of work there is a code of conduct. If you choose to stray away from the rules it can lead to disciplinary action; denial, suspension, or even revocation of a license. A thing we are seeing a lot of any more is sexual misconduct in the work place. Nurse-patient relationship is founded on mutual trust.Sexual misconduct in the practice of nursing means violation of the nurse-patient relationship through which the nurse uses said relationship to induce or attempt to induce the patient to engage, or to engage or attempt to engage the patient, in sexual activity outside the scope of the practice or the scope of generally accepted examination or treatment of the patient. Sexual misconduct in the practice of nursing is prohibited. The follow ing acts constitute grounds for denial of a license or disciplinary action, as specified in s. 56. 072(2):? Making or filing false reports or records; false, misleading, or deceptive advertising; unprofessional conduct; Engaging or attempting to engage in the possession sale or distribution of controlled substances set forth in chapter 893; Being irresponsible and unable to practice without reasonable skill and safety to patients due to illness or use of alcohol, drugs, narcotics, or chemicals, or any other type of material as a result of any mental or physical condition.Failing to report to the department anyone who the licensee knows is in violation of this part or to the rules of the department or the board, violating while being aware of any provision of the board or the departments or lawful order of the board, or failing to comply with a lawfully issued subpoena of the departments. Failing to report any licensee who the nurse knows has violated the grounds for disciplinary act ion, failing to meet the standards for acceptable and prevailing nursing practice. The board may deny licensure against any applicant or licensee who is found guilty of violating any provision of subsection 1.The board will not reinstate the license of a nurse until a person is capable of safely engaging in the practice of nursing. The board shall not reinstate the license of a nurse who has been found guilty by the board on three separate occasions of violations. The board shall by rule establish guidelines for the disposition of disciplinary cases involving specific types of violations. Such guidelines may include minimum and maximum fines, periods of supervision or probation, or conditions of probation or reissuance of a license. Nurse Practice Act, 2007, P. 14-15). The one thing I love about nursing is all of the advancements and the almost endless continuing education. Continuing education is defined as planned offerings designed to enhance learning and promote the continued de velopment of knowledge, skills, and attitudes consistent with contemporary standards for nursing practice. It is also important for nurses to be up to date with all of with all of the advancements in the medical field with technology and all of the new medicine the keeps coming out.Each licensed nurse, upon request, has to submit proof satisfactory to the Board of participation in appropriate continuing education. During each two years one contact hour must be earned for each calendar month of the licensure cycle. Any person licensed by examination within a two year period are exempt from the continuing education requirement for those two years; however, this exemption or limitation if you will, will only apply if the license is renewed in a timely manner at the end of the two years and does not apply if the license is suspended, revoked or is inactive at the end of the two years.Any nurse who is also licensed as a practical nurse may satisfy the continuing education requirements fo r renewal of both licenses by completing appropriate continuing education for a registered nurse. A license is also exempt from continuing education requirements at the time of renewal if the licensee was on active duty with the Armed Forces within six months of the renewal date. However, short periods of duty such as summer of weekend drills do not count. Duty in the U. S. Public Health Service is not considered duty in the Armed Forces.A nurse who is married to a member of the Armed Forces and was caused to be absent from Florida due to the spouses duties can be exempt from continuing education. The licensee must show satisfactory proof of the absence and the spouse’s military states (Nurse Practice Act, 2007, P. 60). The licensee must show satisfactory proof of the absence and the spouse’s military states (Nurse Practice Act, 2007, P. 60). The content of the education shall be specifically designed to meet the objectives and the stated level and learning needs of th e participants.The education should reflect the professional educational needs for the learner in order to meet the health care needs of the consumer. All of the offering contact hours will be at least 50 minutes in length or one contact hour. The hours will be awarded for clinical as well as classroom education (Nurse Practice Act, 2007, P. 62). Besides the basic nurse professional continuing education, there are specific areas a nurse is required to have continuing education in such as HIV/AIDS, Domestic Violence, Medical Errors, and End of life (Nurse Practice Act, 2007, P. 65-66).Every nursing school has their own requirements. For instance some use the TEAS entrance exam while others use the NET test or HESI. The nursing program shall have a written plan for the systematic evaluation of the total program and its outcomes for the purpose of determining competency, adequacy and effectiveness. The parent institution has to provide financial and administrative support and resources to the nursing program such as classroom space, labs, and office space. The faculty-student ratio shall be at a maximum ratio of 1:12 in community-based learning experience setting.The nursing program shall admit students to the program based upon the number of faculty, available educational facilities and resources, and the availability of clinical learning experiences for the student. It shall provide written policies for admission, readmission, transfer, advanced placement, promotion, graduation, withdrawal, or dismissal to the student shall be consistent with those for students in the parent institution and acceptable educational standards. (Nurse Practice Act, 2007, P. 39).The Board of Nursing is created within the department and shall consist of 13 members to be appointed by the Governor and confirmed by the Senate. Seven members of the board must be registered nurses who are residents of this state and who have been engaged in the practice of professional nursing for at leas t 4 years, including at least one advanced registered nurse practitioner, one nurse educator member of an approved program, and one nurse executive. These seven board members should be representative of the diverse areas of practice within the nursing profession.In addition, three members of the board must be licensed practical nurses who are residents of this state and who have been actively engaged in the practice of practical nursing for at least 4 years prior to their appointment. The remaining three members must be residents of the state who have never been licensed as nurses and who are in no way connected with the practice of nursing. No person may be appointed as a lay member who is in any way connected with, or has any financial interest in, any health care facility, agency, or insurer.At least one member of the board must be 60 years of age or older. As the terms of the members expire, the Governor shall appoint successors for terms of 4 years, and such members shall serve until their successors are appointed. (Nurse Practice Act, 2007, P. 9). Throughout this paper I have learned so much more than I had expected. The Nursing Practice Act is so important in so many ways. You have to work hard and maintain that hard work throughout a nursing career.Myself as well as the rest of the nursing students will use this book not as coffee table decoration but as a guide for our journey of becoming nurses. Nursing is an art: and if it is to be made an art, it requires as exclusive a devotion, as hard a preparation, as any painter’s or sculptor’s work: for what is the having to do with dead canvas or cold marble, compared with having to do with the living spirit—the temple of God’s spirit? It is one of the Fine Arts; I had almost said, the finest of Fine Arts. † (Nightingale) Reference Page Nurse Practice Act, F. S. 456 (2007)