Piping

Introduction: The term fabrication applies to the cutting, bending, forming, and welding of Individual pipe components to each other and their subsequent heat treatment and nondestructive examination (N DE) to form a unit (piping subassembly) for installation. The term installation refers to the physical placement of piping subassembly, valves, and other specialty items in their required final location relative to pumps, heat exchangers, turbines, boilers, and other equipment; assembly thereto by welding or mechanical methods; final NEED; heat treatment; leak testing; ND cleaning and flushing of the completed Installation.Depending on the economics of the particular situation, fabrication may be accomplished in a commercial pipe fabrication shop, or a site fabrication shop, where portions of the piping system are fabricated into subassembly or modules for transfer to the location of the final installation. As a general rule piping NAPS 21/2 (DNA 65) and larger for nuclear and fossil power plants, chemical plants, refineries, industrial plants, resource recovery, and generation units are most often shop fabricated.Piping NAPS 2 (DNA 50) and smaller Is often shop fabricated where special heat treatment or cleaning practices may be required: otherwise it is field fabricated. Pipelines and other systems involving long runs of essentially straight pipe sections welded together is usually field assembled. In recent years, the infusion of new bending technologies, new welding processes, new alloys, fracture toughness limitations, and mandatory quality assurance (QUA) programs have made piping fabrication and Installation much more complex than In the past.Greater emphasis Is being placed on written procedures for QUA and quality intro (ICQ) programs, special processes, and qualification and certification of procedures and personnel. Improper selection of fabrication or installation practices can result in a system, which will not function properly or will fail before its expected life span. Accordingly, fabrication and installation contractors must work closely with the designer and be aware of the mandatory requirements of the applicable codes, the unique requirements and limitations of the materials, and those of the fabrication and installation techniques being applied.Codes and Standards Considerations: A great many codes and standards apply to piping. It is incumbent on the fabricator and/or Installer to be familiar with the details of these codes and standards since some codes have the force of law, As an example, the SAME 331. 1 Power Piping Coded is referenced by SAME Section I Power Boilers: for piping classed as Boiler External Piping. The latter that is law in most states, contains rules for code stamping, data reports, and third-party inspection. Piping under SAME Section 1113 also has legal standing. Most other piping codes are used for contractual agreements.Most codes preference SAME Section for nondestructive examination methodol ogy and SAME Section XIX for welding requirements. Each of the codes covers a deferent piping practices, some have mandatory requirements, while others only have recommendations. Heat treatment requirements may vary from one to another. The manner in which the code-writing bodies have perceived the hazardous nature of different applications has led to differing NEED requirements. Generally, the codes are reasonably similar, but the owner, designer, fabricator, and installer must meet the specifics of the applicable code to ensure a satisfactory installation.It is essential that the designer be very familiar with the code being used and that purchasing specifications for material, fabrication, and installation be very specific. Reference to the code alone is not sufficient. In the design, a particular allowable stress for a specific material, grade, type, product form, and/or heat-treated condition was selected. The specifications issued for material purchase and fabrication must ref lect these specify to assure that the proper materials and fabrication practices are used. It is also incumbent upon the fabricator and/or installer to be very familiar with the applicable code.Each project should be reviewed in detail. â€Å"Standard shop practices† may not always produce the desired result. Communication between the designer, fabricator, and installer is essential. All should be familiar with the various standards used in piping design. Most piping systems are composed of items, which conform to some dimensional standards such as SAME 836. MM and SAME 836. MM for Pipe, 816. 57 for flanges, etc. The Manufacturers Standardization Society (MS) and the American Petroleum Institute (API) issue other dimensional standards.The Pipe Fabrication Institute (IF) publishes a series of Engineering Standards, which outline suggested practices for various fabrication processes. These standards give excellent guidance for many aspects of piping fabrication not covered by t he codes. The American Welding Society (SAWS) publishes a number of recommended practices for welding of pipe in various materials. Materials Considerations: Piping systems are fabricated from a great variety of metals and nonmetals, material selection being a function of the environment and service conditions. Materials must inform to the standards and specifications outlined in the governing code.Some codes such as SAME Section Ill impose additional requirements on materials beyond those in the material specifications. All fabrication and installation practices applied to these materials must be conducted so as to assure that the final installation exhibits all of the properties implicit in the design. For example, hot bending of certain austenite stainless steels in the assassination range will reduce their corrosion resistance if they are not subsequently heat-treated. Accordingly, a heat treatment to restore these properties should be specified.

Outline the case for Votes at 16

In Modern time we have seen the voting system become fairer and simpler in order to incorporate all members of society. From giving Women the right to vote many citizens have believed that the voting age should in fact be lowered from the current standard EU Law of 18, to the minor age of 16. The idea of this vote has been popular among citizens however it seems to be less popular among the older generations. Firstly if young people were given the opportunity to vote then it would allow them to engage more within their society. So in theory if more teenagers feel that they are part of the community then we could expect to see a drastic fall in national crime rates for this age bracket. It makes sense for young people to develop a political opinion whilst they are young and it would ensure that the vote represents a wider society therefore making the political system fairer. At the age of 16 many young people have completed their education and therefore it would make sense for them to be allowed to vote. By the age of 16 they would have been able to form options and does Article 21 of the UN Human Rights list state that every citizen (regardless of age) has the right for their voice to be heard and for action to be taken accordingly. By the age of 16 young people can enrol themselves to serve HM Armed Forces. Therefore if a 16 year old can serve their country, be offering their life then why are they not allowed to vote? Stopping 16 year olds from voting could be classified as discrimination, for a particular group of society are being shunned away due to personal characteristics. Currently a 16 year old can be tried in an Adult Court of Law and sentenced to terms in Adult Prisons. This seems unfair if teenagers do not have the right or ability to question acts of law, in means of voting in a general election. The voice of young people is being shunned away. At the age of 16 the law provides teenagers with the right to leave school and move away from home. These abilities are far more serious than voting due to the fact that the will have huge effects on the person’s later life. I believe that society has rejected the idea of students voting due to the fact that they are being stereotypical. In my opinion society look upon teenagers as outcast thugs whom destroy society. As we begin a chapter in modern politics it is time that we leave these views behind and accept that in fact a huge majority of 16 year olds are in fact strong and educated members of society. Many students at the age of 16 will begin a new chapter into adulthood consequently these students will go out into the world of work. Despite not being able to vote the students will still have to pay taxes! This seems unjust when you consider that they do not have the ability to vote for what they believe to be the fairer tax policy. Young people are the future of this country and therefore they should have the ability to input what they want they would like their society to be like within the future. If a student was to vote at the age of 16 then by the age of 20 a government would have already have shaped their future. I believe that a 16 year old has a stronger right to vote over perhaps a 70 year old for they are the future of tomorrow. It is amazing that despite years of education and a number of new rights 16 year olds can not vote in an election, these seems unjust considering that they are subject to the laws that Parliament makes and they would be subject to paying tax if they were to work. The exclusion of 16 year olds from the ballot boxes is discrimination and a deprivation of a basic international human right.

Situational Leadership in Organizational Behavior and Relationship Management

SITUATIONAL LEADERSHIP AND CONTINGENCY THEORIES Executive Summary This ensuing essay is a formal discussion on the need for leadership change based upon continuously evolving situations in modern day conglomerates . The introduction summarizes situational leadership followed by a critical analysis on the same. The latter presents various leadership styles which are respectively applied in specific types of situations and tasks. Recommendations are provided at the end along with the conclusion.Introduction The present day conglomerate story is strewn with complexities which are hard to define or comprehend . At the center stage of such complexities is the concept of staff welfare. Being the most significant connection between the company and the customer , successful employee relation is the cornerstone that every corporate wants to excel at . The way in which staff relate to clients is of paramount importance as ‘customer delight’ is a direct resultant of the same .Hence modern day literature on leadership has devoted considerable focus on comprehension of different leadership approaches adopted in specific sorts of situations. Better or worse employee management skills is the key differentiating factor as far as profitability gaps are considered. In the following writings, we try to evaluate the various concepts which provide us a detailed evaluation of staff management issues and application of the latter in present day management policy. Critical AnalysisWe are confronted by a scenario in which a manager at a particular company is conducting a meeting with his one downs. The number of such people is 10. The staff are disgusted and flabbergasted at the heinous manner in which senior management has been treating them. The manager overheard certain staff comment that they felt like ‘cogs in a machine’. However in the other divisions of the company , the situation is not as grim and staff are given their due recognition and respect.Henc e came in the need to preach and practice ‘situational leadership’ which would help in erasing such differentiated inter departmental behavioral patterns. But another manager by the name of William is completely averse to such idea and feels that employees should be thankful for being hired, in the first place. Wage income earned by the staff is their means of survival and provision of the same by the company entitles the latter to put in place tough work standards that need to be complied with .Thus arises the paramount importance which needs to be attributed to the concept of situational leadership , since the latter is the most effective tool which can bring an end to rigidities in leadership behavior that will ultimately see a contented workforce delivering on higher efficiency and productivity . Literature on leadership has been focusing more and more on a situational theme rather than the more traditional dictum of a traditional kind. The situational approach is f lexible and adaptive in character as opposed to the traditional variant that kills innovative thought in management.Leadership styles can be differentiated as – coaching , affiliative, commanding, pacesetting , visionary and democratic. A forward looking leader is one who appropriately adopts one or more of such styles depending upon the task and occasion in question. Goleman along with other colleagues, is of the belief that employee engagement and performance drive of the greatest magnitude can be achieved if one has a cautious concoction of the visionary approach, coaching, the affiliative approach and the democratic approach.Post the Goleman era ,further inroads into the phenomenon of corporate leadership suggest that leadership cannot be effectively defined by any one single approach . On the contrary , multiple styles describe leadership and such styles are contingent on varying situations. Thus came into existence, ‘contingency theories’ on leadership whic h elaborated on the adaptation of management styles to the requirements of a specific situation, group and the manager’s own personal values. We now make a humble attempt to investigate some of these theory hypotheses : )Fiedler’s contingency theory : During the course of his study on contingency theory literature between 1964 and 1967 , Fred Fiedler tried to establish the linkages between the leadership style and performance of a group , in changing situational circumstances. In his opinion , three basic situational variables alter the extent of ‘favorableness’ of a situation when we consider a leader: (i)Leader-Member connect in respect of trust ,confidence and respect. (ii) The definition and overall purview of the task in consideration. iii)The amount of leadership control exercised by the leader over his sub ordinates. ‘Very favorable’ or ‘Very unfavorable’ situations called for an authoritarian(task oriented) fashion of lead ership. On the contrary ,when unstructured tasks were investigated upon, low leadership control and good leader-member relations marked a ‘medium favorable’ situation . This situation would be best supported by a democratic (relationship oriented) style of leadership. However a standard criticism of this model, is the fact that the favorability variables are mostly qualitative in nature and difficult to be estimated.Also the least preferred co-worker(LPC) scale formulated by Fiedler to determine leadership patterns, with the help of a lucid questionnaire asking leaders to specify the individual they collaborate least with , in terms of sixteen extremes ,has been under the scanner in terms of the rationale . Studies concerning the LPC scale have elaborated that LPC scores of a particular leader can vary , thus not providing any conclusive evidence of leadership pattern. Nevertheless, Fiedler’s work has to be viewed as a catalyst that encouraged further studies in the contingencies of leadership. )Path-Goal theory : The Path Goal theory is a far more empirical research model on the concept of contingency theory . It was formulated as a correction to the previous Ohio State studies which presented the fact that though successful leaders tended to be optimistic with both the initiating structure and consideration sets of leadership, there were exceptions. The basic ground to this model is expectancy theory . This theory claims that definition of an unambiguous path to a particular achievable situation could act as a tool of motivation .But if such path is already chalked out, additional inputs from the leader to his one downs could be felt uncalled for and thus satisfaction with the leader would diminish. Thus higher consideration results in higher satisfaction in case the staff works on repetitive tasks and aiming to initiate structure gives greater results in ambiguous work situations. The Path-Goal theory of leadership has not been without i ts share of critics. Having predicted resultant scenarios of different task structures, it has also beeped upon inconsistent research outcomes.Apparently, such theory gives one greater insights in predicting leader-subordinate behaviors rather than leader-peer interactions. c)Life-Cycle Theory : A more relevant and present day theory of contingency which considers the points discussed till now and puts gives them a shared common perspective is the Life Cycle model. This theory was presented by Paul Hersey and Ken Blanchard , rests on three key variables – the amount of task-orientation that a leader exhibits , the amount of relationship-orientation along with the quantity of willingness that the staff throw out in the course of the task implementation.These variables combine with the historical and present performances of the sample staff as comprehended by the leader and also the interactions within their own selves are combine in order to determine the appropriate leadershi p style. The most interesting result of this model is that a particular leadership trend can come out (sometimes over a finite time horizon) hence pointing to a clear developmental phenomenon ,given delegation of decision-making and responsibility to seasoned team members .However ,the outcome is opposite in cases where leaders maintain great concern for tasks as well as employees. The above model has often been criticized being a ‘post hoc ‘concept ,unable to be utilized as a predictive framework. Thus the need for change in leadership We have argued in the preceding section of the essay using various models of contingency theories that there is in fact an imperative need for changes in leadership styles, according to varying situations.William, who in this write-up is all for an autocratic mode of leadership, has not considered certain pertinent issues that creep up silently when such style is enforced. Staff become scared and tense , dependency on the supervisor incre ases manifold , morale takes a bad hit and absenteeism at work increases. All of these result in low productivity levels and the organization faces trouble. Thus there is a strong requirement for this particular organization to have situational leadership in place , argues our pro-change manager.A democratic style should be used when the management wants staff to be participative in decision-making and problem-solving. Complex issues require diverse formulation of ideas and the latter is possible only if staff are encouraged to join in the related discussion forums. Such opportunity also provides the staff to form a greater sense of belonging , personal growth and job satisfaction. A ‘laissez-faire’ or a ‘hands-off’ mode of leadership is also effective at times when the sub ordinates in question are highly skilled , perfectly trained and well educated.Trustworthiness and self-pride in tasks undertaken are two important attributes which the staff should poss ess ,to make such style a success. We can also talk of the pacesetting or transformational leadership style that forms and retains a context which brings out the best in sub ordinates hence optimizing human and organizational competencies. This approach also helps in bringing about transformation at multiple levels and aligns staff with certain core values along with a common purpose.We can note from the above arguments that one particular leadership style is rarely effective in managing the present day complex corporation and we must adopt a mix and match of leadership styles in order to bring out the best results in terms of staff productivity and efficiency. Leadership needs to change Cautious self-probe and the ability to change given behavioral traits are key in being successful in altering a particular leadership style . Acclaimed leaders are usually the section of people that have managed to do so.We can elaborate on some ways in which the leader can alter his management meth ods: a) He should ask for quality feedback from his team of sub ordinates, such that he understands their unbiased response to the effect of his style on them , on his specific department as well as on the company at large. He should be able to accept truthful answers on his face and should refrain from being offensive at certain responses . Honest feedback by direct sub ordinates is one of the most relevant tools , that informs the leader of areas of improvement and helps him in changing his management style. )Small changes in leadership style should be brought about at the initial stage as opposed to swaying changes since the latter would sweep the staff off their feet. Influences to changes in leadership Some particular factors have a telling effect on leadership styles. These can be enumerated as follows : i)Positive office environment ii)Promoting creative thought iii)Low staff churning ratios iv)Staff Skill set v)Probing and Decisiveness vi)Managing , encouraging and rewarding performance viii)Team work ix)Deveolping both self and team through extensive quality tranings )Client Focus APPEALS TOWARDS CHANGE â€Å"The world as we have created it is a process of our thinking. It cannot be changed without changing our thinking. †Ã‚   ? Albert Einstein Conclusion: We have established with the help of the above essay that changes in leadership styles are quintessential to management today and if such approach is adopted we would see productivity and efficiency increase manifold . Recommendations: Thus it is strongly advocated that corporations instruct and encourage managers to participate fully in situational leadership styles.Democratic style of leadership appears to be the best option in most situations. References: A Primer on Organizational Behavior; Bowditch, Buono, Stewart Seventh Edition, Pages 220-226, Leadership Styles;www. unpan1. un. org retrieved from unpan1. un. org/intradoc/groups/public/documents/unssc/unpan024704. pdf, How To Change Lea dership Style; www. ehow. com retrieved from www. ehow. com/how_7579100_change-HYPERLINK â€Å"http://www. ehow. com/how_7579100_change-leadership-style. html†leadership-style. html, Factors that influence choice of leadership style; www. ukessays. com retrieved from www. kessays. com/essays/management/factors-that-influence-choice-of-leadership-style-management-style. php , Factors influencing leadership style; businesscasestudies. co. uk retrieved from businesscasestudies. co. uk/tesco/developing-appropriate-leadership-styles/factors-influencing-leadership-style. html#axzz2OyXVYv3j, Quotes about change www. goodreads. com retrieved from www. goodreads. com/quotes/tag/change On Managing People ;Harvard Business Review Press Pages 12-13 Leadership the Challenge; Kouzes and Posner Pages Third Edition Essentials Of Organizational Behavior ;Robbins and Judge Ninth Edition

Masculinity Representation in Films Essay Example | Topics and Well Written Essays - 2000 words

Masculinity Representation in Films - Essay Example 54). However, at times, when these action heroes start going back to the action roles that brought them into the limelight, in some instances, several years down the line, scholars extend their ignorance and overlook the fundamental divinity of age as they discuss the hard bodies of these hegemonic heroes (Bould 2005, p. 39). As such, this paper intends to analyse the representation of masculinity in one of the Die Hard films, namely Die Hard 2. The analysis will be drawn by references to the works of Mulvey (1974), Neale (1983) and Tasker (2004). Masculinity as a spectacle merely depicts an idea of opinion which a filmmaker tends to deliver to the audiences. This depiction merely involves physical prowess, sexual virility and aggression (Rzepka and Horsley 2010, p. 61). These are potentially bewildering images of action heroes. With that in mind, it is interesting to note that this hegemonic ideal is not only hard to create but also implausible to maintain for the contemporary male. Therefore, the figure that depicts powerful masculinity may only exist or be embodied in legendary heroes, mythical figures and a minute number of males within a society (West and Lay 2003, p. 27). Die Hard 2 is a story revolving around a police officer who lives in New York. The movie begins when on the eve of Christmas he visits his ‘distanced’ wife, who lives in Los Angeles. Upon his arrival, he finds her and the rest of her work colleagues having a Christmas party at the building in which they work (Gates 2006 p. 35). Coincidentally, some criminals posing as political terrorists invade the building, demanding the release of war criminals who are jailed in an American penitentiary facility. John McLane works as a New York law enforcement officer. He stays far away from his wife and has some unresolved issues; it is partly due to them that he is not on good terms with his wife (Rzepka and Horsley 2010, p. 89). He is a masculine character with virile physical prowess and social dominance. Another important aspect is the high level of aggression noted among these heroes. Prior studies undertaken concerning the subject matter of Hollywood’s presentation of male genres have characterised Die Hard 2 as a male-driven action movie. The audiences of this movie will not find it difficult to spot the genre of the movie, i.e. male-driven. This is visible and prominent in the case of presentation of the lead hero as a macho man (Milestone and Meyer 2012, p. 50). This is because of his spectacular ability to wrestle his enemies, which is a trait of a hero from a movie of the male-driven genre. Indeed, extant studies and research from a feminist perspective clearly state that the physical masculinity of an action hero gives a preferential tone for the action narrative (Carroll 2003, p. 79). An analysis of Die Hard 2 highlights that movie directors focus on physicality in such action heroes as John McLane, and the way they display their bodies forms a vital ingredient of the visual effects (Gates 2006, p. 58). Several suggestions are that American action films strive, frequently at the expense of developing the narrative, to contrive situations or instances for displaying the body of an action hero. Ideally, extant literature that examines both the hegemonic male and the action hero

Geordie Essay Example | Topics and Well Written Essays - 3000 words

Geordie - Essay Example The dialect originated from Celtic, the native tongue of the Brythons or Britains, who occupied the British Isles south of what is today Scotland. Although Roman occupation may have had some influence on this ancient language through the introduction of Latin into elite Celtic society, subsequent invasions by the Anglo-Saxons, tribes from the north of what is now Germany and from Denmark, have left little concrete evidence. A clearer picture emerges with regard to the invaders themselves who, despite having evaded Roman occupation, had had considerable contact with the empire, reflected in the linguistic development of their vernacular. Leith points to such words as cheese, which he traces back to the Latin caseus (Leith 1997, p. 15). With this quite considerable Latin component in their ‘undeveloped, oral vernacular’, they either killed, displaced or absorbed the Celtic population of Northern England, with little evidence that the Celtic language was absorbed together w ith the people (Leith 1997, p 17). When Latin eventually did feature more prominently in the Anglo-Saxon language, it was through writing, the preserve of elite scholars, brought via Christianity from Ireland. From this period come such words as Abbot, Choir, Mass, with clear religious origins (Leith 1997, p. 20). Parallel to this development, the Anglo-Saxon language ceased to be oral vernacular and became a written administrative function in support of the various small kingdoms that had begun to form. Among these, Northumberland was of some importance but the written language that developed here was distinctly different from those in other monarchies, to the extent that the difference impaired mutual comprehension and where these ‘dialects’ could be... This report approves that many of the prominent features of Geordie have already been discussed in a more general context, and are common to a number of Northern dialects. Examples of more specifically Geordie features are a sing-song quality to their speech and rising intonation, followed by a sustained pitch, if the first rising syllable is not the final one. Geordie features a significant component of words that bear close resemblance to original Anglo-Saxon words, some of which have already been discussed. Other features of Geordie are less specific to the Tyneside area and form part of Northern dialects in general or at least some of them, giving the impression of a lively ongoing exchange and continual movement within and between dialects. Trudgill has examined this phenomenon and has predicted the continued existence of the Northeast area dialects, with Geordie set to spread to encompass a larger area that includes Newcastle and surroundings. This paper has traced the historical, political and socio-economic influences that have shaped the modern dialect of Tyneside, highlighted some of the more salient points along the way and, above all, has attempted to portray the complex and overlapping nature of transmission of dialectic features. The picture that has emerged is one of general leveling of dialectic elements, brought about in the past by the standardization attempts to which all English dialects have been subjected.

The Civil War in Syria Coursework Example | Topics and Well Written Essays - 250 words

The Civil War in Syria - Coursework Example The current issue or trend to write about is the revolution in Syria that would help bring peace and reduces the mass casualties of innocent citizens due to increased civil war. The audience for my commentary includes but not limited to the course instructor, the students, peer counselors, the institution management team and other nations involved in the civil war at large. 1. Through revolution, a country like Somalia in East Africa has stabilized its government with a reduction in the number of al-Qaeda. Therefore, the revolution in Syria is no exception to a possibility. 2. Syria is one of the most oil productive nation worldwide and with the existence of civil war, it cannot be able to enjoy its absolute and comparative advantages of the other countries in oil production. 3. The political instability of a nation leads to poor economic performance, lack of democracy, the high number of refugees and increased number of civil war that rise number of casualties hence the need for the revolution in Syria. 4. A country in war can be described as a fallen country as people are divided, however, the revolution will help to unite people together. This can be summarized as, â€Å"together we are united, divided we fall.† 5. There is need to have effective rules and regulations governing people and this can only be possible via revolution where the amendment can be made. However, with existence of civil war, this cannot be achievable hence the need for revolution

The Trusted Traveler Program Essay Example | Topics and Well Written Essays - 1000 words

The Trusted Traveler Program - Essay Example The â€Å"Trusted Traveler" program in essence was made to facilitate the frequent flyers that could include all the business entrepreneurs, government officials and employees as well as other selected individuals who could get their easy way off as regards to airport security checks. The Trusted Traveler program is undoubtedly a good idea when we literally think about it in the first go, but it is also a source of problems on the part of the security people who are present at the airports and are responsible for everything as they are at the helm of affairs when we talk about security and its long checks. This program can have its disadvantages if say for instance a terrorist gets hold of a Trusted Traveler card, would he or she still be unstoppable. The same goes true if he or she is carrying some explosives or weapons on board, would the person be allowed to board the flight? There are serious questions that can be posed with respect to the Trusted Traveler program. The â€Å"Trusted Traveler† program is in the process of being studied thoroughly by the American Senate and would soon, hopefully is put into practice so that American flyers could get extra privileges when they think of security and ease of actions at the airport and within the flights. The reason why this program has not been approved as yet owes to the fact that there are a number of glitches and loopholes through which terrorists and criminals can run off scotch free, thus delaying the whole process. Once these problems are addressed in the broader context of the airline security and with meticulous attention paid to the ease of the passengers, this program would pretty surely be in place for one and all to enjoy and witness at the airports, in the coming times. As regards to passenger authentication, it usually entails the corroboration of passenger ID, which includes from his beginning as a passenger is transited through the airport and

Aspects Of Connected Speech Research Paper Example | Topics and Well Written Essays - 3750 words

Aspects Of Connected Speech - Research Paper Example Preceding the conclusion, findings will be accrued in relation to the three particular characters providing the dialogues (Chapter 3), in an attempt to determine whether particular phonetic features and/or phonological rules pertain to each individual accent or whether the same occur across the connected speech of all three people. Hypothesis: it is expected that results will show similar occurrences in terms of pronunciation and phonological rules across all three characters. Apart from the fact that all three actors are of British descent this assertion is made on the basis that all three are portraying a British accent in a British movie, so it is to be expected that similar phonetic and phonological occurrences will be evident. Chapter 1: Simplification Assimilation An important aspect of connected speech is that of assimilation, wherein the articulation of words is altered in accordance with phonetic characteristics in their immediate environment; in other words sounds are influ enced by other immediate sounds and thus assimilated (Davenport & Hannahs, 2005, p.25). It largely depends upon context, with speakers who are speaking slowly and carefully using it less, and speakers who speak rapidly using it more (Roach, 1998, p.123), and is the reason why mechanized speech, where each word is recorded in isolation, does not work (Roach, 1998, p.123). Roach (1998, p.124) states there are two basic types of assimilation, namely progressive and regressive. Progressive assimilation is where the affected word comes after the word that affects it, as in ‘did you’ [did ju]; for example, in connected speech many speakers would assimilate the approximant /j/ with the alveolar /d/ and articulate it as [did?u] or [did] (Tyrode, 2008, p.2)....   An important aspect of connected speech is that of assimilation, wherein the articulation of words is altered in accordance with phonetic characteristics in their immediate environment; in other words, sounds are influenced by other immediate sounds and thus assimilated (Davenport & Hannahs, 2005, p.25).   It largely depends upon context, with speakers who are speaking slowly and carefully using it less, and speakers who speak rapidly using it more (Roach, 1998, p.123), and is the reason why mechanized speech, where each word is recorded in isolation, does not work   (Roach, 1998, p.123).   Roach (1998, p.124) states there are two basic types of assimilation, namely progressive and regressive.   Progressive assimilation is where the affected word comes after the word that affects it, as in ‘did you’ [did ju]; for example, in connected speech many speakers would assimilate the approximant /j/ with the alveolar /d/ and articulate it as [didÆ ·u] or [didÆ ·Ã‡ ] (Tyrode, 2008, p.2).  Regressive assimilation, on the other hand, is where the affected word precedes the word that affects it, as in ‘is she’, where in isolation the word ‘is’ ends with a voiced alveolar fricative /z/ [É ªz] not its voiceless counterpart.   In connected speech, however, the final articulation of ‘is' /z/ assimilates with the voiceless postalveolar fricative /ÊÆ'/ to and becomes devoiced [É ªs ÊÆ'i] (Tyrode, 2008, p.1).

Creative and effective curriculum Essay Example | Topics and Well Written Essays - 5000 words

Creative and effective curriculum - Essay Example This brainstorm was done after guided reading. Children read in pairs about Viking shields and at the end they completed a brainstorm as a group and presented to the class. This brainstorm was done before designing the shield so that makes more sense and gives children ideas. Children benefit from this activity because they worked in pairs and groups (social skills), in the essay, this point can be extended Further, the teacher will provide a direction on the decoration by providing more information on the shapes, patterns, symmetry, tessellation and the use of a plan to remind the children of the designs. The students construct the longships on their own. In history, the approximate ratio of the longship’s length to the width was four to one almost the half the size of an egg carton. The construction should be carried out by at least two children. First, the children should cut the top half off the egg carton, as the bottom half will be the longships. The pieces left from the top portion will be glued over the leaks in the bottom portion of the carton. The item is then allowed to dry completely, and in the sink, water is allowed to flow and be filled close to a level of two inches. Demonstration of the longships during the Vikings age is carried out by floating the egg carton toy ship built by the students on top of the water in the sink. Further, items are placed on the egg carton to show weight. The weather conditions in Iceland and an explanation on the changes of the weather conditions in the country, particularly the fact that from early may to the end of July the weather conditions remain permanent daylight and that winters are have five hours of daylight from November to the end of January. (Feasey. 2007: 17)  Ã¢â‚¬Å"Teachers are expected to share lesson outcomes with the children†¦so that they may know the contents that they are going to receive†¦ and at the end of the lesson reflect on the success of the lesson†. Creative learning and

Aldemar Hotel and Spa [Operations Management Case Study] Essay

Aldemar Hotel and Spa [Operations Management Case Study] - Essay Example Yield management has become particularly important in the travel and hospitality industry. This is primarily because the resources such as airline tickets and available rooms in a hotel are fixed and cannot be increased or decreased to manage the demand of the consumers at different periods of time (Barnes, 2008). This is also the main reason that yield management is so important for Aldemar. It allows the owner to manage the hotel’s limited resources which includes its rooms in the best possible manner. The managers at Aldemar cannot increase or decrease its room capacity to facilitate the demand of the customers. When there is increased demand of the rooms during holiday season, the management risks losing its important and loyal customers when the rooms are already booked and they cannot overbook due to its long-term impact of the customers’ perception and the hotel’s reputation. Similarly during low demand of the rooms, Aldemar faces issues of decreased reven ues and increased costs as rooms require maintenance and the organization has to pay for its overhead costs that remain more and less constant during all seasons. With the help of yield management, Aldemar can hope to move certain customers during the off-season thus keeping room occupancies more or less constant. What other approaches to capacity management could Aldemar use? There are other different approaches to capacity management that Aldemar can benefit from. One of them includes promotion. Aldemar Hotels can use promotion as a mode of attracting consumers during the off-peak season. They can offer rooms at discounted prices or could introduce new features during the off-peak season. They could use their online website to promote such offers. Another approach to capacity management is product development that falls under the category of demand management. Demand management includes managing price, promotion, reservations, and waiting etc. During the off-season, Aldemar Hotels can offer certain services and products that would attract a high number of customers. Aldemar can for example shift the opening and closing times of their hotels to accommodate their guests. They could allow guests to benefit from tour guides for discounted rates during off-peak season. Aldemar could particularly benefit from using its spa for product development. It could introduce new offers or products for consumers during the off-peak season. The third approach is to adjust the changeable resources in line with the demand of the organization. This is known as chase demand that involves sub-contracting, hiring part time labor, multi skilling and participation of the customers. For example, during peaks seasons, Aldemar can hire extra part-time labor to make up for the increased work load. They could add or share their equipment through partnership agreements. Furthermore, Aldemar can delegate extra work during off-season period such as renovations in the hotel rooms. Critically assess Aldemar’s current yield management practices (e.g. the organizational structures, procedures, performance monitoring). Even though yield management has come forward as one of the best approaches for managing capacity for the hospitality industry, many organizations fail to incorporate this management strategy in the best of manner. In this manner, they lose a

Evaluating the supervisors skills in high schools in the state of Essay

Evaluating the supervisors skills in high schools in the state of Kuwait - Essay Example The educational system is, and needs to be a system that is based on an informed open door policy. This in turn is based on achieving a balance between the dimension of maintenance and adaptation, and hence is able to achieve responsible and informed stability, growth and development (Albakr, 2001). Technical supervision may be considered an important means of developing education. It not only raises the professional competency of teachers, but it also helps to ensure continuous growth. It is also important for solving problems that crop up in a teaching situation. as one of the main components in the education-learning situation, problem solving takes place when required educational experiences are provided, and information about these experiences are spread across the board, educational research is undertaken and used in organizing courses, and providing the facilities required by teachers. (Fiver and Don lab, 1997). At present, there are no legal guidelines that may be used by a court to determine whether supervisors have the skills to support teachers in Kuwaiti schools. This research study was proposed as a means of evaluating the skills of supervisors across three dimensions of teaching. These are, Methods of Teaching and Learning, Communication Skills and Tutorial Skills as defined by the ministry of education in the State of Kuwait. Silver and Kilpatrick (1994) have pointed out that the goals of educational research tend to reflect the diversity and complexity of its subjects of inquiry. At a basic level, the goal of research is to produce new knowledge and reaffirm already established units of knowledge. In a field that is still in the process of defining itself, this knowledge provides an important base for progress. This is very true of Education as a field of study. How one characterizes such progress,

Communication system Essay Example for Free

Communication system Essay Use and develop systems that promote communication 1. Be able to address the range of communication requirement in own role 1. 1 Review the range of groups and individuals whose communication needs must be addressed in own job role. Working within Surestart I work with many groups and individuals whose communication needs must be addressed which include 16 staff members, services users to date we have 1700 families registered with Surestart. We would have a lot of communication with Health visitors regarding referrals that they have sent in and also follow up telephone calls if there is any concerns with the family. I would also have contact with social services and be asked to attend case review meetings. I would also be expected to communicate with other agencies to refer our service users on the appropriate agencies for example other children centres, counsellors, women’s Aid and Hidden Harm Social worker, 1. 2 Explain how to support effective communication within own job role Effective communication and interaction play a very important role in the work of everybody that works within Surestart. I feel that how I support effective communication is by setting a good example to staff. With communication been so important for the day to day running of the centre, each staff member would be asked to write in the diary in the main office so people can know where they are (this is for the save guarding of staff if they are out of the office, lone worker policy) There is also a white board in the main office so when staff are in programmes other staff are aware of this and that the parents/baby room are booked. I would also support communication by attending staff meeting ever second week and staff are told that they must attend once a month. There is also an open door policy as sometimes there is information that staff do not want to share in a team meeting as there maybe difficulties within the team and they would like to share information on a one to one basic. 1. 3 Analyse the barriers and challenges to communication within own job role The barriers and challenges that I would face is staff working part time, staff out doing programme and also may be difficult feeling between staff members. The other barriers and challenges that I would face is staff do not take on board what you are saying to them as they feel they are right so they do not even listen to what you are trying to explain. Some people may pick you up wrong on the information you are trying to get across. 1. 4 Implement a strategy to overcome communication barriers Make sure I speak very clear, focus on what information I would like them to take on board. Supervision on a monthly basis, open door policy if anyone has a problem they can talk about it. Staff can ring and send emails at any time. The childcare supervisor meets with the childcare team every morning to make sure that all creches have enough staff and if they have any concerns regarding the children. There is also a referral meeting once a week where we discuss the referral that health visitor/social workers have send in and also to discuss and concerns we would have regarding the parents. I also send rely slips to social worker / health visitor to let them know if a home visit has been completed or if we have been unable to contact the family. Use different means of communication to meet different needs I am aware that each staff member has different learning styles, some staff like sharing information in a group and other staff like to share information in a one to one. It is also very important for me to take this on board as I do not want any member of the team feeling frustrated and ineffective. I want staff to be able to trust me and let them see that I value the work that they do. The different means of communication I use to meet different needs are. Emails are a very effective means of communication as each staff members gets the information at the same time and not second hand. Emails can be sent at any time and also printed out to file or record information that has been sent or received. Team meeting again are a very good as all staff are getting the same information and this is a nice way for other staff to meet and let everyone else know how things are going and if anyone is finding a family or child difficult then there is the support of the whole team for ideas of how to handle a situation. If anyone cannot make it then the team minutes are there to read. Telephone if I am not in the office I can still be reached on my mobile if anyone needs anything. Health visitor/Social worker would also contact me by telephone if they needed an update on a family. Staff diary in the main office this lets staff members know who is in which room and if anyone is on leave or sick or if someone has an appointment. Sign in and out sheet beside the exit door this is for safety reasons as if there was a fire in the building then I would know who is in and out Reply slips are back to the health visitors/social worker as an update for the referral they have send in. Letters to parents this is to invite them along to programmes/events. Thought-out the year I would facilitate information mornings for breastfeeding support, weaning work shop and feeding for under 5’s this would be to share information to welcome new service users to the Surestart. Face to face, my office is open to all staff at any time if they need to talk about anything. CU2941 Use and develop systems that promote communication 2. Be able to improve communication systems and practise support positive outcomes for individuals 2. Monitor the effectiveness of communication systems and practices. The diary in the front office if very effective for staff on home visit as we know where there are for their safety (lone worker policy). white board in the main office is very effective as this is where all staff write down their programmes so if there is any phone calls for staff the secretary knows if they are in the office or in programmes. Emails can be sent at any time and it means that the same information is been told to the staff at the same time and it is also the staffs responsible to pick up their emails. The childcare supervisor meets with the childcare staff each morning I feel that this is very effective as this is in place to make sure that all rooms are covered with their ratio, and most importantly that the needs of the children are met and if there is any problem in any of the setting it can be addressed as needed and that staff do not have to wait 2 weeks for a team meeting to discuss. One to one communication i. e. Supervision and APR, I feel that this is very important within a setting. N-Drive this is where documents can be saved and all staff can access it. In our office we have a policy of hot desking so documents can accessed at any computer. This is also for Surestart forms and newsletters so all staff can print them out as needed. Reply slips to health visitors/social worker/other agencies this is where I reply to any referral letter that the project receives, I would reply to the other agencies if this family had received a home visit and services offered, if I was unable to contact the family for different reasons or if the family did not want to avail of Surestart services. Phone if I cannot be reached at any time then a message can be left for me to return there call. 2. 2 Evaluate the effectiveness of existing communication systems and practice Evaluating the effectiveness of existing communication systems and practice I am going to start with the ones I feels are the most effective. One to One Communication I feel that this works very well within a team as some staff members do not like to speak in front of other and feel that their ideas might not be good enough. I also feel that face to face communication is very effective as some people can pick up a message wrong and take the wrong tone with an email. Supervision this is there for staff to talk confidently with their manger I feel that this is very effective means of communication for the manger to tell how well things are going for that member of staff and for the staff member to say how they really feel about how things are going. ( I also feel that you have to have a good relationship with your staff for this to work, you have to be relaxed and friendly and staff members also have to trust you). Supervision is also very effective as this give staff clear boundaries of what is expected of them for the month a head and also make sure they are on target to achieve the targets in their APR. Team meetings I also think this is effective as this can let everybody know how programmes are going if there is any follows to do with families in any of the programmes. If anyone is having any difficulties if any of the programmes is nice to get other ideas how to deal with it. It is also there for sharing information for the Surestart board and action for children. To let staff know what training is coming up. ARP- I have been working in a Surestart setting for the last 11 years, I feel that this is the first year I have felt that an APR has been effective like the rest of communication systems if it is not done right then it will not be effective. APR is there to set goal and targets for the year ahead, I feel this is very important for staff as they know what is expected of them for the year ahead and then this is monitored at each supervision to make sure that staff in on track with their targets. Childcare meeting every morning I feel that this is very effective as each member of the childcare team no where they are each day and who is covering in each setting and also if any member of the childcare team is concerned about a child this is discussed each morning. Emails- I feel has pro and con. It is very effective in a way that emails can be sent at any time and is very good for all staff to receive the information at the same time. I also feels that staff can pick the tone of emails up wrong and some information is best said face to face. Reply letter to health visitors/social workers/other agencies I feel that this is a very effective The diary in the front office This is effective if everyone plays there part in filling it in. If someone is on training or off on A/L and forgets to fill it in then it is very hard for other staff to know where they are. N-Drive This is effective as all the Surestart form and standard letters are on it as well as newsletters. It is also that as this is used while hot desking it means that the documents that are placed on this drive can be accessed by the whole team so if I was saving any confidential information I would also password protect it. Phone I do feel that this is effective as if I am not available by phone or mobile then a message can also be left. 2. 3 Propose improvements to communication systems and practices to address any short comings I feel that communication can always be improved as we are only human and staff do forget to pass on messages, response to emails, and even fill in the diary in the main office. I have proposed that each desk has message pad so that all messages have to written down. I have proposed that the main diary is to be brought to the team meeting so that if anyone has any leave booked, any visits arranged or training then this can go into the diary. I would also remind everybody at team meeting about remembering to fill in the diary I have also propose that the reply slips to the health visitors/social workers be changed as I feel it could be improved. 2. 4 Lead the implementation of revised communication system and practices CU 2941 Use and develop systems that promote communication 3. Be able to improve communication systems to promote partnership working 3. 1 Use communication systems to promote partnership working The systems that we use to promote partnership working is: One to one communications I meet with the health visitor for breastfeeding once a week. Also any of the health visitors are welcome to call in at any time. Some health visitors like to bring parents that are hard to engage into the centre to meet me to show them around the building and meet the staff. I would also have contact face to face with our families on a daily basis through programmes and also registrations. Phone call health visitors/social services and other agencies would phone for update and regarding case review meetings. Families would also phone on a daily basis if they needed help with anything or information. Post we post letters to the agencies if we are unable to reach the families or if they no longer wish to be involved with the service. I would also post letters and newsletter to families. Emails some agencies like to send email as it is a faster way for them and this is ok with me as long as it is recorded. Referral reply this is a letter drawing and signed by Surestart parents that we have permission to send it back to the health visitors to say we have been in contact and the Surestart services have been offered. Information events this is different events for Surestart to promote their services 3. 2 Compare the effectiveness of different communications systems for partnership working I feel within waterside Surestart the systems we use are very effective. One to one communication I feel is very effective as this can reassure service users and colleagues and also outside agencies, you can focus on the goal. I can be supportive and positive to all that need it. I can also assess the services users’ needs and provide them with the support needed and I also feel that this builds trust and relationships. Phone call I feel that this is a very effective way of communicating as some health visitor/social worker/other agencies need an update ASAP as they may be on their way to a review meeting. All if a member of staff is not on the office this is a good way of communicating. As my role as family support worker I be in contact with families every day on the phone, may it be they have a question or I am inviting the families to programmes or arranging home visits. Emails This is a very effective way that I communicate in Surestart, supervision notes to be sent 3 says before supervision, team meeting are to be sent and read before the meeting. Agencies are able to send emails / newsletters Referral Response I feel that this is a very effective way that Surestart communicate. This is send to health visitors/social workers who send in a referral this is to show the agencies that we have made contact with that family or that we have tried to contact the family and after 4 weeks we are unable to reach them. Information events I feel that this is not really effective as we work on catchment areas and this is very hard to have an event in a general area, it has to be within the area, as we do not like to turn people away that may be interested in the service, as when agencies send in referrals they have a list of streets that is inside the catchment area and only if there is a need then they can be outside the area. Propose to improvements to communications systems for partnership working I do believe that communication within waterside Surestart has got a lot better in the last year, I feel that this has a great deal to do with our new manager, she has gained the trust and respect of the staff and in return it is a pleasure to work with. I feel that I have a great leader to follow and learn a great deal from. The only improvement that could be made is that a leaflet could be drawn up for families that are outside the catchment area so that they leave with something rather than going away with no information (this is in the process on being done). I am also assisting the upgrade of the referral response form so that families sign this form so that we have permission to hold their information and that we are allow to send the form back to the referrer. CU2941 Use and develop systems that promote communications 4. Be able to use systems for effective information management 4. 1 Explain legal and ethical tensions between maintaining confidentiality and sharing information Working with in a Surestart setting for the last 11 years, I know that confidentiality is very important. It’s important for agencies and services users to build a trusting relationship with me. I am very honest with the people I work with, when I am completing a registration form with parents I do tell them that their details will stay in a locked filing cabinet for 7 years, that there information is stored on a database password protected until there child/ren turn 4. I also let the parents know that under the data protection act they are able to see their file at any time. Parents also sign a form that we are able to share information with the health visitor and other agencies involved if we have any concerns regarding the child or parents. When I have taking programmes with parents I also start with group rules. Confidentiality always comes up, I always tell parents that whatever is discussed at the group I do not take it outside of the group, I can only speak for myself but that I would hope that everyone would stand by this too. I also always make it very clear to parents that if anything is discussed or disclosed any information regarding harm or danger or abuse to a child/ren then I will past this information on to my manger and the appropriate authorises. I feel that if I am honest with all the people that I work with then I do believe that you build up a trust and that by law I have to report and record all that is disclosed to me, although I did have a parent in the past that did not understand this, they felt that I was just reporting them to social services and she believed that social services where there to take her child away. This lady did not return to Surestart as what she disclosed I had to discuss with my manger. Analyse the essential features of information sharing agreements within and between organisations Under the data protection act 1998, the purpose of the act is to protect the rights and privacy of individuals and to ensure that data about them are not processed without their knowledge and are processed with their consent whenever possible, this act covers personal data held in electronic formats, manual data and relevant filing systems. Surestart has devised a form that has recently been updated by my colleagues and myself, this form is where we get service users to sign that they agree Surestart is able to keep their details in a secure place for up to seven years, and that if we had any concerns regarding the child that we would contact the appropriate service also that if there is a social worker involved that we are able to update them on any programmes they attend for case review meetings. Health visitors would send in referral form with parent’s consent, what happens is we then phone that family and do a home visit and in that visit we fill out the Surestart forms with the families details on it, the consent for is then signed and sent back to the health visitor to say we have completed a visit this is what programmes they would like to attend, I would also send back a form to the heath visitor if that family did not wish to avail of Surestart services or that I could not reach them. These forms are kept with the registration and filed in a locked cabinet. When I am facilitating a programme within Surestart I always do group rules, parents can put what they like on it, confidentially always comes up, I just remind parents that what happens in the group will stay in the group with me, but I can only speak for myself and not the rest of the group and I do tell them that It would not be nice to hear anyone talking bad about another parent. I do inform the parents that if there anything disclosed within the group that has caused abuse of harm to a child them I am bound by action for children policies and procedures and under the children order act 1995 to past this information on to my manger and the appropriate services, I do tell the parents that I would discuss this with them before I reported what I have heard. Demonstrate use of information management systems that meet legal and ethical requirement Under the data protection act 1998 Surestart need permission to hold data on the families that I work with, how this is done  is that all parents have to sign the registration form and also the consent for their details to be stored according to action for children policies and procedures, which is that their details are stored for up to seven years, in a locked filing cabinet and up to four years on the Surestart database. Under the children’s order 1995 I am bound to report anything that I have heard or seen that my or has caused harm to a child. This would also be discussed with the parent/s what information I would be passing on to my manger. This also gives the parent an opportunity to explain. The information my lead to a referral been made to social services.

Chocolate Milk As A Sports Recovery Drink Physical Education Essay

Chocolate Milk As A Sports Recovery Drink Physical Education Essay Sports drinks are a highly lucrative business with many athletes believing they significantly improve performance. However recent research analysing the potential of low-fat milk as a post-exercise recovery aid has shown that highly commercialised carbohydrate-based sports drinks may be less beneficial. I have witnessed the rebranding of drinks such as Mars Refuel being packaged in sports bottles and using athlete endorsement and am interested in its effectiveness in intermittent sports. As a badminton player, I am keen to see whether low-fat milk can be used to aid recovery in varying-intensity intermittent sports. Also, there is currently a new campaign, Milk it for all its Worth, run by the Dairy Council following funding by the EU aiming to promote the health benefits of milk in young people (Dairy Council, 2010). Therefore, it is a good time to be conducting research in this area. Title Is post-exercise consumption of chocolate milk a suitable recovery drink following glycogen-depleting exercise in male badminton players? Literature Review Roy (2008) reviewed the current research on milk and its potential as a sports drink. He recognised that the limited research in this field has been conducted into the recovery from resistance training and endurance sports. The available research suggests milk favourably alters protein metabolism and is more nutrient dense than commercial sports drinks. This review also recognises the need for further research into the possible applications and efficacy of milk as a recovery drink. Recent research has shown that milk consumption immediately and one hour after exercise, is effective for strength and resistance training athletes to increase muscle mass, encourage type II muscle fibre hypertrophy and promote loss of fat mass leading to leaner mass and favourable change in body composition, (Hartman et al. 2007 and Josse et al. 2010). This is topical as young women in particular avoid dairy products believing them to be fattening (Josse et al. 2010). Hartman et al. (2007) tested whether consuming fat-free milk post resistance exercise would promote greater lean mass accretion compared to consumption of soy or an isoenergetic carbohydrate drink in young novice weightlifters. They used a relatively large sample size, increasing reliability. Josse et al. (2010) conducted an equivalent experiment in female athletes producing similar results, verifying Hartman et al.s method. Josse et al. (2010) also theorised milk consumption may have led to increased bone health; howe ver more research is needed for verification. Cockburn et al. (2010) investigated the most effective timing for consumption of a milk recovery drink. They investigated consumption before muscle damaging exercise, immediately after and 24 hours later. The study produced the recommendation that athletes consume milk immediately post-exercise, which would allow the athlete to perform at closer to optimal levels 48 hours later. This corresponds with recommendations from Pritchett et al. (2009). Precise recommendations have been given as 50-75g of carbohydrate consumed 30-45 minutes post-exercise and 1.0-1.5g of carbohydrate.kg-1.h-1 for next few hours (Ivy et al. 2002). Research has also been conducted into the effectiveness of milk for rehydration. Shirreffs et al. (2007) found milk an effective recovery aid following mild exercise-induced dehydration. They compared low-fat milk, low-fat milk with added sodium chloride, a sports drink and water at restoring fluid balance post-exercise. A volume equal to 150% of the volume of body mass lost during exercise was consumed 20 minutes post-exercise to ensure sufficient rehydration. All four drinks initially hydrated participants. However, the gastric emptying rate of milk is much slower than for sports drinks and water. This gave a greater percentage of drink retention with the milk drinks and the subjects remained in a net positive fluid balance and euhydrated at the end of the recovery period (Shirreffs et al. 2007). Conversely, the sports drink and water increased urine output resulting in a net negative fluid balance. There was no difference between the two milk drinks possibly because low-fat milk a lready contains a moderate quantity of sodium, higher than most commercial sports drinks. Research is needed to compare milk and sports drinks containing the same electrolyte content to confirm whether it is the haemodilution effect of sports drinks that led to a negative fluid balance. Low-fat chocolate milk contains the same nutritional benefits as low-fat milk but has been found to be more palatable than popular carbohydrate replacement drinks (Pritchett et al. 2009). Karp et al. (2006) found chocolate milk an effective recovery aid between two exhausting exercise bouts. Their study on endurance-trained cyclists involved glycogen-depleting exercise, a recovery period in which test drinks were consumed and a test to exhaustion. The research showed that both the time to exhaustion and the total work performed was significantly greater following the consumption of chocolate milk compared to a carbohydrate replacement drink with subjects cycling for 49% longer (Karp et al. 2006). However the chocolate milk had no significant difference compared with the fluid replacement drink. The carbohydrate content of the three different drinks in this research were equal, which had not been addressed in previous studies and produced contrasting results showing no significant difference in performance between the different drinks. However the types of carbohydrates and calorie content of the drinks were unequal. Both the chocolate milk and fluid replacement drinks contained a mixture of monosaccharides and disaccharides compared to the complex carbohydrates present in the carbohydrate replacement drink. This may account for the results as the complex carbohydrates may not have completely digested in the 4 hour recovery period. Also the greater number of calories in the chocolate milk may have accounted for the improved performance. Thomas et al. (2009) addressed this problem with a study comparing isocaloric chocolate milk and carbohydrate replacement drinks with an isovolumetric fluid. The protocol was also a submaximal (70% VO2max) endurance exercise cycle in a glycogen-depleted state. Participants cycled for 51% longer and 43% longer with post-exercise chocolate milk consumption compared to consumption of carbohydrate replacement and fluid replacement drinks respectively (Thomas et al. 2009). This further supports the usage of chocolate milk as an effective post-exercise recovery drink, following prolonged endurance exercise. This research focuses on endurance athletes and the test to exhaustion is at a moderate intensity suggesting fat may be the predominant fuel source. The increased fat content of chocolate milk and subsequent increased concentrations in free fatty acids circulating in the plasma could account for the increased time to exhaustion, suggesting carbohydrate replacement drinks may be a more b eneficial recovery aid when working at higher intensities. Therefore, this research shows chocolate milk to only be a good recovery aid for moderate endurance exercise. Furthermore, this research was partially funded by Mars U.K. Ltd. which could be a potential source for bias. More recent research has studied this area, finding chocolate milk to be an effective recovery aid for cyclists after intense exercise. (Pritchett et al. 2009). The ratio of carbohydrate to protein in chocolate milk is similar to that in carbohydrate recovery drinks and therefore may help attenuate muscle damage post-exercise. Pritchett et al. (2009) compared chocolate milk and a carbohydrate replacement drink as recovery aids. They investigated the time to exhaustion working at 85% VO2max following intermittent high-intensity training and a 15-18 hour recovery period. Their study showed chocolate milk and carbohydrate replacement drinks are equally effective in attenuating muscle soreness. Time to exhaustion was not significantly different between the two drinks. The study by Pritchett et al. (2009) used drinks that were isocaloric and had equal carbohydrate content. The recovery period was 15-18 hours to allow complex carbohydrates to be broken down and participants worked at 85% VO2max during the test to exhaustion to ensure a greater reliance on carbohydrates as the main fuel source. Despite all this, the participants used to test milk as a recovery aid for high-intensity training were endurance trained cyclists. Therefore this is unrepresentative of athletes who participate in high-intensity intermittent sports. There has been only one recent study into the effects of milk consumption in team sports (Gilson et al. 2010). Training programmes for competitive sports containing varying-intensity intermittent exercise such as football have been shown to deplete muscle glycogen stores. Such programmes should produce similar results in badminton players. Gilson et al. (2010) found that post-exercise chocolate milk compared to carbohydrate consumption had no preferential effect on short-duration, high-intensity exercise. The exercise regime in this study may not have been of an adequate intensity to impair muscle recovery which could explain the results as increases in training volumes were relatively modest. The above evidence shows low-fat milk based drinks to be suitable for rehydration and recovery from endurance and strength training. However, it fails to reach a firm conclusion on whether they are more effective than carbohydrate drinks and lacks analysis on physiological reasons behind the findings. For example, none of these studies directly measures the efficacy of milk to promote muscle glycogen recovery following endurance exercise; only performance is analysed. Admittedly this is harder to achieve. The lack of research into the efficiency of milk as a post-exercise recovery drink to varying-intensity intermittent exercise sports, despite the large market for recovery drinks in this field of sport, has prompted my research. The aim is to find through similar testing as in the studies reviewed whether chocolate milk can be an effective aid for those who participate in varying-intensity intermittent sport, focusing on badminton players. Research problem There will be no significant difference in the time to exhaustion from high-intensity intermittent shuttle running following the consumption of chocolate milk and an isocaloric carbohydrate-based drink during a recovery period post glycogen-depleting exercise. Method Sampling County-level, healthy, male badminton players between the ages of 18-30 will be used (n=14). Other studies have used a sample size of 9 so whilst being realistic the increase should provide more reliable results. Well-trained athletes will be used to avoid mood or learning impacting performance. The standard will be defined as a minimum of 6 hours training per week, playing for their county and minimum of 3 years playing badminton. The Leicestershire Badminton Association (LBA) will be contacted to provide the participants needed. Snowball sampling may be used to gain participants or random sampling to reduce numbers if necessary. Lactose intolerance volunteers will be excluded. Procedure The procedure will be based on the Thomas et al. (2009) study, but will focus on intermittent exercise. This will be a crossover and fully counter-balanced study. Each participant will complete glycogen-depleting exercise to exhaustion, followed by a recovery period and an experimental trial on three occasions. Participants will be asked to arrive in a fully rested, hydrated state and to have refrained from strenuous exercise for 24 hours. They will be required to complete a 3 day food diary prior to each trial. They will be asked to arrive at the same time of day for each trial to minimise diurnal variation and this will be in the morning following an overnight fast. Participants will come for a familiarisation trial where they will be fully informed of all the risks and basic measurements such as height, mass, age and frequency of participation will be recorded. They will then be required to do a VO2max test, see Ramsbottom et al. (1988) for method, from which the running speeds for 55% and 95% will be calculated. They will also have a trial at the Loughborough Intermittent Shuttle Test (LIST) (see Nicholas et al. (2000) for method) to familiarise themselves. During this they will be able to consume water ad libitum. In the following experimental trials they will be encouraged to consume an equal amount. Experimental Sessions Following a warm-up, participants will complete the LIST (Nicholas et al. 2000). Heart rate monitors will be fitted and record heart rate every 15 seconds during exercise using short-range radio telemetry. Rate of perceived exertion using Borgs 6-20 scale will be recorded every 15 minutes. Sprint times in one direction over 15 metres using two infrared photo-electric cells and computer software will also be recorded throughout the test. Following completion of the LIST they will be given one of the two experimental drinks; Mars Refuel Chocolate Milk (CM) or carbohydrate replacement drink; Endurox R4 Chocolate (CR). The volume of CR will be calculated to provide 1 g carbohydrate.kg-1 body mass. The volume of CM will be calculated to give an isocaloric amount. The drinks will be placed into opaque bottles by a laboratory assistant not directly involved in the test. Recovery drinks will be assigned to the participants by a coin-toss. Once half the sample has been assigned to one drink t he remaining participants will be given the other for the first experimental trial. Participants will be given the alternative drink during the second trial. An equal total amount of carbohydrate will be given to the participants immediately post-exercise and 2 hours into the recovery period. Although the LIST does not replicate the situation of a badminton match, it does include the correct type of exercise used in training and often during tournaments players have long waiting periods. A total recovery time of 4 hours will be given representing this waiting period. During this time water may be consumed ad libitum in the first trial. This will be recorded and they will be encouraged to consume the same amount in trial 2. After the recovery period participants will be required to complete the LIST again. The time to exhaustion and variables previously measured will be recorded. Participants will then be asked to return one week later in the same state as previously described, replicating their diet 24 hours before the trial. The experimental procedure for trial 2 will be the same, however participants will be given the opposite recovery drink. A placebo is not being used as it has already been shown in many studies that post-exercise consumption of carbohydrate improves recovery. If at any point during the trials the participant wishes to stop or their health and safety becomes compromised the experiment will be stopped. Statistical Analysis Statistical analysis will be used on the collected data using SPSS (version 17). The time to exhaustion, sprint times and heart rates following consumption of the two drinks will be compared as will the results for the initial LIST and post-recovery LIST. The significance level for tests will be P

Capital Asset Pricing Model importance in financial world

Capital Asset Pricing Model importance in financial world Capital asset pricing model popularly referred to as CAPM has been of great importance in the asset pricing world. There have been wide acceptances as well as strong arguments regarding the validity of the model over the years, with regards to the fundamental assumptions of the model and the practicability of the model (Bodie, Kane and Marcus, 2005). (Bodie, Kane and Marcus, 2005) The capital asset pricing model provides a yardstick rate of return for appraising possible investments. The standard rate of return is a fair return given the risk involved in the investment. The model also helps us make an educated guess as to the expected return on assets that has not yet been traded in the market place. (Bodie, Kane and Marcus 2005) The CAPM assumes that the security market is large and investors are price takers, there are no taxes or transaction costs, all risky assets are publicly traded, investors can borrow and lend any amount at a fixed risk free rate, all investors analyze securities in the same way and share the same economic view about the world. (Bodie, Kane and Marcus 2005) The organisation of this write-up is as follows a detailed introduction of the capital asset pricing model (CAPM), followed by a literate review of the model which goes into an in-depth analysis of the model as regards to its functions, compatibility and suitability as it relates to asset pricing. Finally, in conclusion a capsulation of the defects, modification and significance of CAPM. J.Balvers, 2001 The Capital Asset Pricing Model (CAPM) is the most popular model of the determination of expected returns on securities and other financial assets. It is considered to be an asset pricing model since, for a given exogenous expected payoff, the asset price can be backed out once the expected return is determined. Additionally, the expected return derived within the CAPM or any other asset pricing model may be used to discount future cash flows (J. Balvers, 2001.p.35). Furthermore according to Bodie, Kane and Marcus, 2005, described CAPM as a method suitable for determining required rate of return of an asset. The model is considered as an extension of Markowitzs portfolio theory. It is expressed in a linear relationship between the return required on an investment and its systematic risk. As described below: E [Ra] =RF + ÃŽÂ ²a [E (Rm) RF), Where, E [Ra] is expressed as the required return on financial assets. Rf is the risk-free rate of return, E [Rm] is the expected market return and ÃŽÂ ²a is the measure of risk [Beta]. CAPM advocates; investors need to be rewarded in two ways: firstly for the time value of money and secondly risk associated with the security. The first half of the formula represents risk free return (Rf) that compensates the investors for placing money in any investment over a period of time. The other half of the formula represents [ÃŽÂ ² E(Rm Rf)] risk premium for bearing additional risk. (Hanif and Bhatti 2010) A more graphical and pictorial representation of CAPM is expressed in the Security Market Line (SML); the line shows the most efficient risk and return to an investor. It shows the expected rate of return of an individual security as a function of systematic risk (beta). FIGURE 1: THE SECURITY MARKET LINE Y X Source: Balvers,(2001:41) The Y-intercept (beta=0) of the SML is equal to the risk-free interest rate. The slope of the SML is equal to the market risk premium (Â µm -rf) and reflects the risk return trade off at a given time: SML: E(Â µM) = Rf + ÃŽÂ ²i [E(Â µm)-Rf] The risk expected return relationship is called the security market line (SML).The expected return on security equals the risk free rate plus the risk premium. In CAPM the risk is measured as beta times the expected return on the market minus the risk free rate. The risk premium of a security is a function of the risk premium of the market and varies directly with the level of beta, no measure of non-systematic risk appears in the risk premium, as CAPM assumes that diversification has eliminated it. (Mullins 2000.) LITERATURE REVIEW Beta is the standard CAPM measure of systematic risk, one way to think of beta is that it gauges security volatility relative to the market volatility (Mullins, 2000,p.108). Stock whose beta are greater than 1 has a high level of systematic risk and are very sensitive to the market changes, stock with beta less than 1 has a very low level of systematic risk and less sensitive to market changes, stock whose beta is equal to 1 as an average level of systematic risk, rise and falls at the same percentage as the broad market index. (Mullins, 2000) In a freely competitive financial market described by CAPM, no security can sell for long at a price low enough to yield more than its appropriate return on the SML. The security will be very attractive compared with other securities of similar risk and investors would bid its price up until its expected return fell to the appropriate position on the SML. Conversely, investors would sell off any stock, selling at a price high enough to put its expected return below its appropriate position. The resulting reduction in price would continue until the stocks expected return rose to the level defensible by its systematic risk. (Mullins 2000). On the SML the stocks with low beta will lead to a low risk premium. Despite the stocks high level of total risk, the market would price it to yield a low expected return. In practice such counterintuitive examples are rare, most companies with high total risk also have high betas and vice versa. Though according to CAPM the financial market cares only about systematic risk and price securities such that expected return lie along the SML. (Mullins 2000). One of the major purposes of the Capital asset pricing model is the determinant of the institutional demand for common stock. At the most basic level, institutional demand should be a function of the risk-return attributes of individual stocks. (Hanif and Bhatti 2010). It is mostly used by the finance managers and/or investors in finding the risk of the investment and to predict the expected return of the stock (Jagannathan and Wang, 1993). It is also used to find out the cost of capital, Capital budgeting is used by a firm to note profitable and unprofitable projects. A key variable in any capital budgeting procedure is the cost of capital, also referred to as the opportunity cost of the capital necessary to finance the project. The opportunity cost accounts for time preference as measured by the risk free interest rate and risk. It assumes that relevant risk is systematic risk that can be measured based on the (estimated) beta of the project and the anticipated market excess return. A related application is in regulation. In a case, for instance, where the government fixes the price of a particular service provided by a utility, the administered price depends on providing the utility with a fair return on capital. This fair return is often calculated by applying the CAPM to determine the systematic risk of the utilitys activities and thus obtaining the required return (J. BALVERS, 2001). CAPM is also an effective tool for portfolio return evaluation; it is used to find out how a managed portfolio has performed. This is because higher levels of systematic risk in the portfolio imply higher average returns. In practice it is used to adjust for risk and also differentiate abnormal returns from simply excess returns. (J. BALVERS, 2001) Mullins, 2000 states that CAPM as an idealized theory of financial markets is surrounded by some controversies in that the models assumptions are viewed as clearly unrealistic. But the true test of CAPM is naturally evident in how well it works there have been numerous empirical test of CAPM. Most of these have been examined in the past to determine the extent to which stock returns and betas have corresponded in the manner predicted by the security market line. With few exceptions the major empirical bodies in this field have concluded that betas are not fixed through time. This fact creates difficulty when betas estimated from historical data are used to calculate costs of equity in evaluating future cash flows. Beta which is used as a measure of risk appears to be associated to with past returns, due to the close link between total and systematic risk, distinguishing their effects will be difficult. Under CAPM it is believed that Beta should change has both company fundamentals and capital structure changes in reality. It is also argued that beta estimates from the past are subject to statistical estimation error. The estimate of the future risk free rate and the expected return on the market are also subject to error, although quite alot of research has concentrated on developing methods to reduce the possible error (Mullins, 2000). Reality matches what the CAPM foretell as the relationship between beta and past returns is linear. Also the relationship is positively sloped which implies that high returns are associated with high risk and low returns are associated with low risk (J. BALVERS, 2001) CONCLUSION In conclusion despite CAPM shortcomings in measuring the cost of capital and due to its single period model coupled with its inability to reflect all market information (efficient market hypothesis) (Johnson, Spearin Groenewegen 2006). Speaking of the inability of CAPM to fully capture and reflect a real life situation this can be better explained in the role CAPM plays in efficient market hypothesis (EMH). Basically there are three forms of market the strong form of market efficiency (EMH) in which the market prices reflects all available information which includes both the insider information and forecast information on a real time basis making asymmetry information absent. Though this cannot be totally assured in the two remaining forms of EMH the semi-weak and weak form of efficiency do no justice when it comes reflecting all available information present in the market on a timely basis and a more informed investor can outperform both uninformed investor and the market as a whol e (Z.A. Ozidemir 2008). In line with the above statement (Merton 1987) was of the notion that in reality some investors were better more informed than others to the extent that some less informed investors were not aware of the existence of some opportunities in the capital market. Despite this deficiency some investors still used CAPM to measure asymmetry information that was present in the market by modifying it to take care of the heterogeneous information. Which included the measurement of how asymmetry information influences stock prices and cost of capital (Easley and OHara 2004).An in-depth examination of the model proves that the use of CAPM both in theory and in practice cannot be totally discarded in that it has much to say as regards to the way returns are determined in the financial market as compared to other models. Its key advantage is that it quantifies risk and provides a widely applicable, relatively objective routine for translating risk measured into estimates of an expected return coupl ed with modification of the traditional CAPM contain the impact of changes in expected return distribution (Javed, 2000). Finally a major advantage of CAPM is the objective nature of the estimated cost of equity that the model can yield. CAPM cannot be used in isolation because it necessarily simplifies the world of financial markets. But financial managers can use it to supplement other techniques and their own judgement in their attempts to develop realistic and useful cost of equity calculations (Mullins, 2000).

Uncle Toms Cabin :: American America History

Uncle Tom's Cabin Uncle Tom's Cabin is one of the most famous and popular pieces of Civil War literature. It was drawn from selected pieces of a real life memoir done by Harriet Beecher Stowe. Uncle Tom's Cabin was a book that drew many people into the fight over the institution of slavery. Northerners hailed the book saying it exposed the truth, while southern slaveholders and plantation owners claimed that it had many falsehoods in it. President Lincoln, when he met Stowe called her, "the little lady who started this big war." Originally planned for a series of short essays for the National Era (an abolitionist newspaper) in 1851-1852, Stowe gathered so much information, that is was too large for newspaper print, and was published originally by the Boston publishing company Jewett. Immediately it became a hot seller, with northerners and southerners alike. It sold more copies than any other piece of literature, with the exception of the Bible and soon Stowe was touring the United States and Europe to speak against slavery. Many argued that there were false reports in what she wrote because the slave owners were portrayed as heartless devilish men, and the slaves were portrayed as their victims. These were mostly Southern slave owners who believed they treated their slaves well and the slaves were happy. To respond to this, Stowe published A Key to Uncle Tom's Cabin a year later, in 1853, to provide documentation of the truth upon which her novel is based. Uncle Tom's Cabin tells a story of adversity in the struggle for freedom, a look into human cruelty as well as human compassion, and one man's loyalty to those he is indentured to. It is set in a period just before the Civil War; during the time when the black people of America were not citizens, but property and had no rights. In the south during this time, the blacks were forced to work hard labor on plantations and were required to live in small dorms outside of their owner's homes. However, the novel is more than just a narrative of slaves, but of human emotion rising up in the face of adversity. It is a story of the fight for freedom, and an account of the history of America. The author brings out the humanity in the slaves, and describes the great injustices that took place during the time.

US History 1790- 1860 Essay examples -- essays research papers

  Ã‚  Ã‚  Ã‚  Ã‚  During 1790-1860, there were many reformations taking place and many events that lead up to the reformation of this very inexperienced country, of America. All these events effected the United States different ways and caused many grievances for the young people living in America. In 1790 we firmly incorporated the first American cotton mill which led to the economic augmentation of the United States. In 1791 we established the Capital of the United States in Washington D.C., and Alexander Hamilton establishes the first bank of America. In 1794 in Pennsylvania there was an uprising called the Whiskey Rebellion. People were rejecting the taxes on their way of life, and that was whiskey. In 1801, Thomas Jefferson became President of the United States, and the... US History 1790- 1860 Essay examples -- essays research papers   Ã‚  Ã‚  Ã‚  Ã‚  During 1790-1860, there were many reformations taking place and many events that lead up to the reformation of this very inexperienced country, of America. All these events effected the United States different ways and caused many grievances for the young people living in America. In 1790 we firmly incorporated the first American cotton mill which led to the economic augmentation of the United States. In 1791 we established the Capital of the United States in Washington D.C., and Alexander Hamilton establishes the first bank of America. In 1794 in Pennsylvania there was an uprising called the Whiskey Rebellion. People were rejecting the taxes on their way of life, and that was whiskey. In 1801, Thomas Jefferson became President of the United States, and the...

Profit Maximization

Firms are in business for a simple reason: To make money. Traditional economic theory suggests that firms make their decisions on supply and output on the basis of profit maximisation. However many Economists and managerial Scientists in our days question that the sole aim of a firm is the maximisation of profits. The most serious critique on the theory of the firm comes from those who question whether firms even make an effort to maximise their profits. A firm (especially a large corporation) is not a single decision-maker but a collection of people within it. This implies that in order to understand the decision-making process within firms, we have to analyse who controls the firm and what their interests are. The fact that most large companies are not run by the their owners is often brought forward to support this claim. A large corporation typically is owned by thousands of shareholders, most of whom have nothing to do with the business decisions. Those decisions are made by a professional management team, appointed by a salaried board of directors. In most cases these managers will not own stock in the company which may lead to strongly differing goals of owners and managers. Since ownership gives a person a claim on the profit of the firm, the greater the firm's profit, the higher the owners† income. Hence the owners goal will be profit maximisation. When managers† salary stays unaffected by higher profits they may pursue other goals to raise their personal utility. This behaviour strikes the critical observer regularly when for example reading or watching the financial media. Managers there often rather mention the rises in sales or the growth of their company rather then the profits. Some economists like Begg (1996) argued that managers have an incentive to promote growth as managers of larger companies usually get higher salaries. Others like Williamson (1964) suggested that managers derive further utility from perquisites such as big offices, many subordinate workers, company cars etc. Fanning (1990) gives a rather bizarre example: When WPP Group PLC took over the J. Walter Thompson Company, they found that the firm was spending $80,000 p. . to have a butler deliver a peeled orange every morning to one of their executives. An unnecessary cost clearly from the perspective of the company owners. But often it becomes difficult to identify and separate this amenity maximisation from profit maximisation. A corporate jet for example could be either justified as a profit maximising response to the high opportunity cost of a top executive or an expensive and costly executive status symbol. Baumol (1967) hypothesised that managers often attach their personal prestige to the company†s revenue or sales. A prestige maximising manager therefore would rather attempt to maximise the firms† total revenue then their profits. Figure 1 illustrates how the output choices of revenue- and profit maximising managers differ. The figure plots the marginal revenue and marginal cost curves. Total Revenue peaks at x r , which is the quantity at which the marginal revenue curve crosses the horizontal axis. Any quantity below x r , marginal revenue will be positive and the total revenue curve will rise as output goes up. Hence a revenue-maximising manager would continue to produce additional output regardless of its effects on cost. Given this information one might ask why the owners don†t intervene when their appointed managers don†t direct their actions in the interest of the owners, by maximising profits. First of all, the owners will not have the same access to information as the managers do. Where Information relates to professional skills of Business administration as well as those of the firms inner structure and its market enviroment. Furthermore, when confronted with the owners demands for profit maximising policies, a clever manager can always argue that her engagement in activities, like a damaging price war or an expensive advertising campaign serve the long-run prospect of high profits. This excuse is very difficult to challenge until it is too late. Another aspect is that managers aiming to maximise growth of their company (expecting higher salaries, power, prestige, etc. ) often operate with a profit constraint. A profit constraint is the minimum level of profit needed to keep the shareholders happy. The effects of such a profit constraint are illustrated in Figure2. Figure2 shows a total profit curve (T? ). T? is derived from the difference between TR and TC at each output level. If the minimum acceptable level of profit is ? , any output greater then Q3 will result in a profit below ?. Thus a sales-maximising manager will opt for Q3 which gives the highest level of sales at the minimum possible profit. This however would not be the profit maximising option. In order to maximise profits the manager would have to chose an output level that creates Q2, where profits are highest but sales lower then in Q3. So given this conflict of interests between the owners and the managers of a firm? What are the possible solutions available to the owners, to make their agents work in their interest? It is often suggested that an effective way to control the managers behaviour and bring it in line with the owners interests, is to make the managers owners themselves by giving them a share in the company. However, research by De Meza & Lockwood (1998) suggests that even with the managers owning assets, their performance does not necessarily become more profit raising. Rajan & Zingales (1998) assessed the impact of power and access to it on the behaviour and performance of managers. Their findings suggest that the power gained by access to critical resources is more contingent than ownership on managers or agents to make the right investment and decisions then ownership. They also report adverse effects of ownership on the incentive to specialise. Other ways to control managers include performance based pay, which can prove to be effective in the short-run but again, the long-run perspective of the firm may suffer, when managers neglect crucial Long-run investments into Research and Development, restructuring, equipment or advertising to raise short-run profits and hence their own salaries. In conclusion it is important to note that profit maximisation fails to demonstrate a general validity when applied as a theory of firm-behaviour. The real world businesses often operate on a multi-dimensional basis with many confronting interests and aims. As well as differing short-run and long run aims. Therefore profit-maximisation should be regarded as one possible goal of a firm but not necessarily its sole one. There is also a difference to be noted between the size of firms. A small family-run business for instance can easily adopt a pure profit-maximising approach, since the utility of its owners equals that of the labour-force and the management. In this setting, the income will equal profit. Therefore it is imperative to assess and develop a theory of firm behaviour on the different classes of firms with a perspective to their individual differences in management, ownership and market enviroment.