10 Behaviors Of Un Stoppable Entrepreneurs - 950 Words

10 behaviours of un-stoppable entrepreneurs There are different groups of entrepreneurs, those who talk about their great ideas but never get started or give up at the first obstacle and those who are on an unstoppable quest to get things done. Having mentored and worked with many high profile organisations and individuals over the years, I’ve learnt that often an ‘overnight success story’ is actually the result of someone working hard over a long period of time and exhibiting certain behaviours. Success leaves clues and it’s the implementation of this knowledge that sets apart the good from the great, creating an ‘unstoppable entrepreneur’. 1) Get up and get at it The most successful and unstoppable entrepreneurs I know are early risers. They wake up early with drive and motivation. A clear idea of what needs to be achieved is at the forefront of their mind and they don’t start their day with a delay. Holding a clear focus and daily intention ensures objectives are met. 2) Exercise first thing participating in exercise first thing in the morning, whether it’s going for a run or hitting the gym is something that can’t be overstated. An unstoppable entrepreneur puts as much emphasis on their wellbeing as they do on their business. Exercise not only benefits the body, it also kick starts the day, putting an entrepreneur in the right head space to perform at their best. 3) Healthy Diet Along with exercise, a healthy diet is crucial to an unstoppable

Rhetorical Analysis Of I Have A Dream - 1372 Words

The combination of a dignified speaker amidst one of the greatest movements in American history culminated in one of the most famous speeches ever given. On August 28, 1963, Dr. Martin Luther King, Jr. delivered his renowned â€Å"I Have a Dream† speech on the steps of the Lincoln Memorial in Washington, D.C. This speech is a prime example of rhetorical approaches and rhetorical devices flowing effortlessly together to create an effective speech that leaves a legacy. The use of rhetorical devices and approaches gives a speech or text more power in its deliverance to the audience and is able to evoke emotions that would not show with the use of solely literal, direct language. Rhetorical devices are key in persuasion and inspiration of the†¦show more content†¦In addition to an intentional occasion of deliverance, King knew his audience. The Movement was supported by young and old, black and white, male and female, and citizens across the nation and those people are ex actly who he wrote for. He did not waste his breath persuading non-supporters to join the movement, but rather used his time to encourage and inspire the supporters. He uses terms like â€Å"we† and â€Å"us† to connect with his target audience. King knew his words would be well-received because he was well-respected by those who participated in the March as well as those who may have only heard the speech through the radio or seen it in print. He uses terms like â€Å"we† and â€Å"us† to connect with his target audience. In addition to the speech transcript, the tone of any speech is important because it is a vocalized text. King uses a projected voice, anyone would if they were speaking to more than 250,000 people. However, it is more than volume that creates an effective tone, he was inspirational and emphatic about each of his topics. His passion grows from the beginning to the end, leaving the audience feeling inspired and wanting more. In a speech , the speaker wants to find a way to touch the audience’s hearts and connect on a personal level, whether he or she is addressing two family members in a living room or millions of peopleShow MoreRelatedI Have a Dream: Rhetorical Analysis865 Words   |  4 Pagesâ€Å"I Have a Dream† Rhetorical Analysis Five elements of rhetoric: * Speaker: Martin Luther King Jr., a Baptist minister from Atlanta, Georgia, who was inspired by Christianity and Gandhi. * Audience: Primarily African-Americans were present at the speech, but it was heard by many white Americans across the country. * Subject: A call for an end to racism in the United States. * Context: The speech was given on August 28, 1963, at the Lincoln Memorial, in a time where it was very difficultRead MoreRhetorical Analysis I Have A Dream767 Words   |  4 PagesShelly Ahmed Deborah Williams Rhetorical Analysis 04 November 2017 â€Å"I Have a Dream† The March on Washington for Jobs and Freedom took place in Washington, D.C. on August 28, 1963. There was about 250,000 people in attendance. It was the largest demonstration ever seen in the nations capital, and the first to have a lot television coverage. Dr.King uses the bible to receive an emotional reaction and connection from the audience as The glory of the Lord shall be revealed and all flesh shall seeRead MoreI Have A Dream Rhetorical Analysis1346 Words   |  6 Pagesâ€Å"I Have a Dream† Rhetorical Analysis The speech â€Å"I Have A Dream† was voiced by activist Martin Luther King Junior on the Lincoln Memorial during an era in which blacks suffered prejudice in America, a place in which whites could enjoy the land’s opportunities and freedoms but blacks could not. Martin Luther King’s speech was intended to express his present and future aspirations towards the upheaval concerning the inequality and racial injustice that the nation was experiencing however, lackingRead MoreRhetorical Analysis Of I Have Dream1489 Words   |  6 Pages28, 1963 Martin Luther King Jr. presented his iconic well-known speech, â€Å"I Have Dream† in Washington D.C. This speech was addressed over forty years ago and it is still relevant to this day and will live on for generations. His purpose was to command racial justice to African Americans who have experienced maltreatment and to come together to fight for equality afforded to all under the Constitution. King used the rhetoric al devices: ethos, logos and pathos to persuade the nation to grant all equalRead MoreA Rhetorical Analysis: of I Have a Dream Essay1484 Words   |  6 PagesIn Martin Luther King’s I Have a Dream speech, King makes use of an innumerable amount of rhetorical devices that augment the overall understanding and flow of the speech. King makes the audience feel an immense amount of emotion due to the outstanding use of pathos in his speech. King also generates a vast use of rhetorical devices including allusion, anaphora, and antithesis. The way that King conducted his speech adds to the comprehension and gives the effect that he wants to rise above the injusticesRead MoreRhetorical Analysis Of I Have A Dream 1349 Words   |  6 Pagescollege dropout, someone who didn’t even have enough for food stood before the students of Stanford College; graduating class of 2005. Words are just words if not spoken in a correct manner. What a person speaks with passion is what moves a n audience. Throughout time, speeches have been remembered because of how they connected with their audiences: â€Å"If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter.† â€Å"I have a dream†¦Ã¢â‚¬  The message that was given to theRead MoreRhetorical Analysis Of I Have A Dream Speech924 Words   |  4 Pagesis his â€Å"I have a dream† speech. The reason â€Å"I Have a Dream† speech made massive impacts, is due to It struck directly into the hearts of Americans both black and white making America realize just what is really going on in this world. King informed people about racial equality and fairness. This speech hit home so well just by the way he structured his speech. You can notice that MLK structures his speech to appeal to the different types of audience, supporting it with the three rhetorical modes;Read MoreRhetorical Analysis Of I Have A Dream Speech752 Words   |  4 Pages28, 1963 At th e Lincoln Commemoration 200,000 individuals accumulated after the Walk on Washington. This is the place Dr. Martin Luther conveyed his discourse I Have a Dream to America. He talked about the treacheries of isolation and separation of African Americans that was occurring in our country. In his first explanation he stated, I am happy to join with you today in what will go down in history as the greatest demonstration for freedom in the history of our nation. In this announcement heRead MoreRhetorical Analysis Of I Have A Dream Speech1198 Words   |  5 PagesThe, â€Å"I Have a Dream† speech given by Dr. Martin Luther King Jr. is arguably the most emotionally moving and persuasive speech of all time. But, to understand the speech one must first understand the context. At this time, the slave era was far gone but, not forgotten. Negro men and women were still experiencing segregation in the 1960’s. There was negro bathrooms, negro schools, negro water fountains, and eve n negro restaurants. Martin Luther King Jr. was an influential black man who took on theRead MoreRhetorical Analysis Of I Have A Dream Speech1058 Words   |  5 PagesMartin Luther King Jr’s â€Å"I have a Dream† demonstrates the combination of the rhetorical appeals to support his argument for equality and social justice because he draws attention to the past history of America’s Injustice and oppression towards black Americans. One of the explanations that the I Have a Dream address by Martin Luther King Jr. is memorable is that it contains a superb balance of Aristotles 3 rhetorical appeals: attribute, pathos, and logos. Ethos is associate charm to authority

Stock Market And Macroeconomic Variables In India - Free Essay Example

Sample details Pages: 15 Words: 4496 Downloads: 10 Date added: 2017/06/26 Category Statistics Essay Did you like this example? ABSTRACT The present paper is aimed at studying the nature of the causal relationship between stock prices and macroeconomic aggregates in India, if any. By applying the techniques of unità ¢Ã¢â€š ¬Ã¢â‚¬Å"root tests, cointegration and the Granger test the causal relationships between the NSE Index à ¢Ã¢â€š ¬Ã‹Å"Niftyà ¢Ã¢â€š ¬Ã¢â€ž ¢ and the macroeconomic variables, viz., Real effective economic rate (REER), Foreign Exchange Reserve (FER), and Balance of Trade (BoT), Foreign Direct Investment (FDI), Index of industrial production (IIP), Wholesale price index (WPI) using monthly data for the period 1st April 2006 to 31st March 2010 have been studied. The major findings of the study are (i) there is no cointegration between Nifty and all other variables except Wholesale price index (WPI) as per Johansen Cointegration test. Therefore causal relationship between such macro economic variables having no cointegration with nifty is not established. (ii) Nifty does not Granger Cause WPI and WPI also does not Granger Cause Nifty. Don’t waste time! Our writers will create an original "Stock Market And Macroeconomic Variables In India" essay for you Create order Key Words: Granger Causality, Macroeconomic Variables, Cointegration, Stock Prices JEL Classification: G1, E4 Introduction The movement of stock indices is highly disposed to the changes in rudiments of the economy and to the changes in future prospects expectations. These expectations are influenced by the micro and macro fundamentals which may be formed either logically or adaptively on economic fundamentals, as well as by many subjective factors which are unpredictable and also non quantifiable. It is believed that domestic economic fundamentals play seminal role in the performance of stock market. However, in the era of globalisation and integration of world economies, domestic economic variables are also subject to change due to the policies adopted and expected to be adopted by other countries or some global events. The common external factors influencing the stock return are stock prices in global economy, the interest rate, foreign investment and the exchange rate. For illustration, capital inflows and outflows are not determined by domestic interest rate alone but also by the changes in the inte rest rate by major economies in the world. Recently, it is experienced that contagion from the US sub prime crisis has played significant movement in the capital markets across the world as foreign hedge funds unwind their positions in various markets. Other burning example in India is the appreciation of Indian currency due to increased inflow of foreign exchange. It has resulted in a decline in the stock prices of major export oriented companies especially in Information technology and textile sectors. The modern financial theory concentrates upon systematic factors as sources of risk and contemplates that the long run return on an individual asset must replicate the changes in such systematic factors. This implies that securities market has an important relationship with real and financial sectors of the economy. This relationship is generally viewed in two ways. The first relationship considers the stock market as a leading indicator of the economic activity in the country, wher eas the second relationship focuses on the possible impact the stock market might have on aggregate demand, predominantly through aggregate consumption and investment. The first case states that stock market leads economic activity, whereas the second case suggests that it follows economic activity. Knowledge of the sensitivity of stock market to macro economic behaviour of key variables and vice-versa is important in many areas of investments and finance. This research may be helpful to comprehend this relationship. Since the decade of 1990 in India, a number of measures have been adopted for economic liberalization of the country. Coupled with this various other steps have also been taken to strengthen the stock market such as opening of the stock markets to international investors, increase in the regulatory power of SEBI, reforms in the capital markets, trading in derivatives, etc. These measures have resulted in noteworthy improvements in the size and depth of stock markets in India and they are beginning to play their due role. Presently, the movement in stock market in our country is viewed and analysed carefully by a large number of global players. An understanding of the macro dynamics of Indian stock market can be valuable for traders, investors and also for the policy makers of the country. Results of the study may help in diagnosing whether the movement of stock market is the result of some other variables or it is one of the causes of movement in other macro variable in the economy. The study also expects to explore whether the movement of stock market is associated with the economy. In this context, the purpose of this paper is to explore such causal relations for India for the period of 2006 to 2010. The complete paper is organised in the four sections. Section I provides review of selected literature on the causal relationship between stock prices and macro economic variables. Section II discusses the data and explains the methodology for testing the stationarity, the existence of cointegration, and the direction of causality if any. Section III reports the results and their interpretation. Finally, Section IV deals with the concluding remarks. I. Review of Literature Many empirical studies have been conducted to study the causal relationship between stock market and macro economic variables. In retrospect of the literature, a number of hypotheses support the existence of a causal relation between stock prices and economic variables. Ma and Kao [1990] unearthed that a currency appreciation has a negative effect on the domestic stock market for an export-dominant country and a favourable effect on the domestic stock market for an import-dominant country, which appears to be consistent with the goods market theory. Bahmani and Sohrabian [1992] establish a bi-directional causality between stock prices (Standard Poors 500 index) and the effective exchange rate of the dollar in the short period of time. However, co-integration analysis did not reveal any long run relationship between the two variables. Abdalla and Murinde [1996] in their research study the relationship between exchange rates and stock prices in the emerging financial markets of India, Korea, Pakistan and the Philippines. As per their study granger causality tests results show uni-directional causality from exchange rates to stock prices in all the sample countries, except Philippines. Ajayi and Mougoue [1996], show significant interactions between foreign exchange and stock markets by using daily data for eight countries, while Abdalla and Murinde [1996] document that a countryà ¢Ã¢â€š ¬Ã¢â€ž ¢s monthly exchange rates tends to lead its stock prices but not the other way around. Pan, et al. [1999] examined the causal relationship between stock prices and exchange rates with the help of daily market data and found that the exchange rates Granger-cause stock prices with less significant causal relations from stock prices to exchange rate. They also find that the causal relationship has been stronger in the aftermath of the Asian crisis. Malliaris and Urrutia [1991] observed that the performance of the stock market might be used as a leading indicator for real economic activities in the United States. For the United Kingdom, Thornton [1993] also found that stock returns tend to lead real income. In related work and Chang and Pinegar [1989] also concluded that there is a close relationship between stock market and the domestic economic activity. Chen, Roll, and Ross [1986], Bodie [1976], Fama [1981], Geske and Roll [1983], Pearce and Roley [1983], Pearce [1985], James et. al. [1985], and Stulz [1986] and many papers have tried to show empirical associations between macroeconomic variables and security returns. Bodie [1976], Fama [1981], Geske and Roll [1983], Pearce and Roley [1983] and Pearce [1985] document that inflation and money growth has an inverse impact on equity market. Many experts however believe that positive effects will outweigh the negative effects and stock prices will eventually rise due to growth of money supply [Mukherjee and Naka, 1995]. Mukherjee and Naka [1995] reveal in their study that cointegration relation existed and positive relationship was found between the Japanese industrial production and stock return. However, Cutler, Poterba, and Summers [1989] (CPS) find that Industrial Production growth is significantly positively correlated with real stock returns over the period from 1926 to 1986, except the 1946- 85 sub-period. In context of developing countries Mustafa, K et al. [2007] have done a study to investigate the empirical relationship between the stock market and real economy in Pakistan economy by taking up various variables like per capita GDP, output growth to represent the Real economy and stock market liquidity, size of stock market representing the Stock Market. Cointegration and Error Correction Model Technique has been adopted to establish the empirical relation, if any between the two from the time period 1980- 2004. Husain, F. [2006] examined the causal relationship between stock price and real sector variables of Pakistan economy, using annual data from 1959-60 to 2004-05. It studied the causal relationship between them using various econometric techniques like ECM, Engle-Granger co integrating regressions and Augmented Dickey Fuller (ADF) Unit Root tests. The study indicates the presence of a long run relationship between the stock prices and real sector variables. More recently, Humpe, A., et al. [2009] have tried to relate the macro economic variables with long term stock market movements in US and Japan within the framework of a standard discounted value model by using monthly data over 40 years. A cointegration analysis has been applied to model the long term relationship between the industrial production, money supply, the consumer price index, long term interest rates and stock prices in US and Japan. The authors have found a significant relation between the macro economic variables and stock market in the long run. In Indian context, Abhay Pethe and Ajit Karnik [2000] has investigated the inter à ¢Ã¢â€š ¬Ã¢â‚¬Å" relationships between stock prices and important macroeconomic variables, viz., exchange rate of rupee vis-ÃÆ'  -vis the dollar, prime lending rate, narrow money supply, and index of industrial production. The analysis and discussion are situated in the context of macroeconomic changes, especially in the financial sector, that have been taking place in India since the early 1990s. Chakradhara Panda, et al. [2001] explored the causal relations and vibrant interactions among monetary policy, real activity, expected inflation and stock market returns in the post liberalization period by using a vectorà ¢Ã¢â€š ¬Ã¢â‚¬Å"autoregression (VAR) approach. The major findings of their study are (i) expected inflation and real activity do affect stock returns, (ii) monetary policy loses its explanatory power for stock returns when expected inflation and real activity are present in the system, ( iii) the relationships of monetary policy, expected inflation and real activity with stock returns lack consistency, (iv) there is no causal linkage between expected inflation and real activity. Bhattacharya and Mukherjee [2002] studied the nature of the causal relationship between stock prices and macro aggregates for the period of 1992-93 to 2000- 2001. The results of their study show that there is no causal relationship between stock price and macro economic variables like national income, money supply, and interest rate but there exists a two way causation between stock price and rate of inflation. Their result further points that index of industrial production lead the stock price. Kanakaraj, A. et al. [2008] have examined the trend of stock prices and various macro economic variables between the time periods 1997-2007. They have tried to explore upon and answer that if the recent stock market boom can be explained in the terms of macro economic fundamentals and have concluded by recommending a strong relationship between the two. As per the review of the literature there is no unanimity with regard to the causal relationship between key macro between key macro economic variables and stock prices. This relationship is different in different stock markets and time horizons in the literature. This paper makes an attempt to add to the existing literature by providing robust result which is based on more than one technique, about causal links for a period of 4 years monthly data. II. Empirical Methodology and Data For drawing useful inferences time series analysis must be based on stationary data series. Generally a data series is said to be stationary if its mean and variance are constant (non-changing) over a given period of time and the value of covariance between two time periods depends only on the distance or lag amid the two time periods and not on the actual time at which the covariance is computed. The correlation between a series and its lagged values are assumed to depend only on the length of the lag and not when the series started. This property is known as stationarity and any series obeying this is called a stationary time series. To test the stationarity of a series three unit root tests have been applied. Stationarity of the time series has been tested by using Augmented Dickey Fuller (ADF) and Phillips Perron (PP) tests. [Dickey and Fuller (1979, 1981), Gujarati (2003), Phillips and Perron (1988), Enders (1995)]. For testing null hypothesis of stationarity, KPSS test has also been applied for robustness [Kwiatkowski, Phillips, Schmidt. and Shin (1992)]. Augmented Dickey Fuller (ADF) Test Augmented Dickey-Fuller (ADF) test has been carried out which is the modified version of Dickey Fuller (DF) test. ADF makes a parametric correction in the original DF test for higher-order correlation by assuming that the series follows an AR (p) process. The ADF approach controls for higher-order correlation by adding lagged difference terms of the dependent variable to the right-hand side of the regression. The Augmented Dickey-Fuller test specification used here is as given below: p à ¢Ã‹â€ Ã¢â‚¬  yt = ÃŽÂ ±0 + ÃŽÂ »yt-1+ ÃŽÂ £ÃƒÅ½Ã‚ ³ià ¢Ã‹â€ Ã¢â‚¬  yt-i +ut (I) i=1 Phillips-Perron (PP) Test Phillips and Perron (1988) adopt a nonparametric method for controlling higher-order serial correlation in a series. The test regression for the Phillips-Perron (PP) test is the AR (1) process. The ADF test amends for higher order serial correlation by adding lagged differenced terms on the right-hand side and the PP test makes a correction to the t-statistic of the coefficient from the AR(1) regression to adjust the serial correlation in ut. The correction is nonparametric in nature. The important plus of Phillips-Perron test is that it is free from parametric errors. Phillips-Perron test allows the disturbances to be weakly dependent and heterogeneously distributed. In view of this, PP values have also been checked for stationarity. KPSS Test A major criticism of the ADF unit root testing procedure is that it cannot differentiate between unit root and near unit root processes especially when using short samples of data. This prompted the use of the KPSS test, where the null is of stationarity against the alternative of a unit root. This guarantees that the alternative will be accepted (null rejected) only when there is strong evidence for (against) it [Kwiatkowski, Phillips, Schmidt. and Shin (1992)]. Co-integration Test Using non-stationary series, cointegration analysis has been used to examine whether there is any long run equilibrium relationship. For instance, when non-stationary series are used in regression analysis, one as a dependent variable and another as an independent variable, statistical inference become tricky [Granger and Newbold, 1974]. If two variables are cointegrated, they would on average, not drift apart over a period of time this concept provides insight into the long-run relationship between the two variables and testing for the cointegration between two variables. In the present case, Johansenà ¢Ã¢â€š ¬Ã¢â€ž ¢s Maximum Likelihood procedure for Cointegration has been applied. Granger Causality Test The dynamic linkage is examined using the concept of Grangerà ¢Ã¢â€š ¬Ã¢â€ž ¢s causality test (1969, 1988). Granger causality test is applied on a stationary series. This test analyses the fact that between two given factors which one is the causing one and which factor is getting affected by another. The test is based on following two regression equations: n n Yt = ÃŽÂ £ ÃŽÂ ±i Xt-i+ ÃŽÂ £ ÃŽÂ ²j Yt-j+ u1t __________________________________ (II) i=1 j=1 n n Xt = ÃŽÂ £ ÃŽÂ »i Xt-i+ ÃŽÂ £ ÃŽÂ ´j Yt-j+ u2t __________________________________ (III) i=1 j=1 In the two equations given above it has been assumed that disturbances u1t and u2t are not correlated with each other. Equation (II) postulates that current Y is related to its own past values as that of X and next equation (III) postulates a similar behaviour of X. There are following four possibilities of cause and effect: Unidirectional causality from X to Y is indicated if the estimated coefficients on the lagged X in equation (II) are statistically different from Zero as a group (i.e. ÃŽÂ £ÃƒÅ½Ã‚ ±i à ¢Ã¢â‚¬ °Ã‚   0) and the set of estimated coefficients on the lagged Y in equation (II) is not statistically different from zero (i.e. ÃŽÂ £ÃƒÅ½Ã‚ ´j à ¢Ã¢â‚¬ °Ã‚   0). Unidirectional causality from Y to X is indicated if the estimated coefficients on the lagged X in equation (III) are statistically different from Zero as a group (i.e. ÃŽÂ £ÃƒÅ½Ã‚ ±i à ¢Ã¢â‚¬ °Ã‚   0) and the set of estimated coefficients on the lagged Y in equation (III) is statistically different from zero (i.e. ÃŽÂ £ÃƒÅ½Ã‚ ´j à ¢Ã¢â‚¬ °Ã‚   0). Feedback, or bilateral causality is suggested when the sets of X and Y coefficients are statistically significant different from zero in both the regression equations. Independence is suggested when the sets of X and Y coefficients are not statistically significant in both the cases. Lag-Length Criteria Determination of the lag length of an autoregressive process is one of the most difficult tasks in applying econometrics techniques. To overcome this difficulty various lag length selection criteria (Akaike Information Criterion, Schwarz Information Criterion, Hannan-Quinn Criterion, Final Prediction Error, Corrected version of AIC) have been proposed in the literature. Asghar and Irum have compared Akaike Information Criterion, Schwarz Information Criterion, Hannan-Quinn Criterion, Final Prediction Error, Corrected version of AIC for lag length selection for three different cases that is under normal errors, under non-normal errors and under structural break by using Monte Carlo simulation. The study shows that the performance of all these criteria improves with an increase in the sample size. For sample size of 30, although AIC and FPE have the highest probability of correct estimation but all other criteria also perform very well. For sample size equal to 60, probability of correct estimation for HQC is highest but AIC and SIC also has probability of correct estimation close to that of HQC. For large sample size (120 or greater) performance of SIC is the best. This shows that AIC and FPE are efficient but not asymptotically consistent where as SIC, AIC and HQC are asymptotically consistent criteria. Liew and Khim [2004] have carried out this stud y for both normal and non-normal errors. They found that HQC is the best for large samples. In the present study lag length is determined on the basis of Hannan-Quinn Information Criteria. III. Empirical Analysis The descriptive statistics for all four variables are calculated and presented in table 1. These variables are Real Effective Economic Rate, Balance of Trade, Foreign Exchange Reserve and NSE Nifty. The skewness coefficient, in excess of unity is taken to be fairly extreme [Chou 1969]. High or low kurtosis value indicates extreme leptokurtic or extreme platy-kurtic [Parkinson 1987]. Generally values for zero skewness and kurtosis at 3 represents that the observed distribution is normally distributed. It is seen that the frequency distribution of the above mentioned variables are not normal. Jarque-Bera statistics also indicates that the frequency distribution of the underlying series does not fit normal distribution. Further, the coefficient of variance indicates that the Foreign Direct Investment, Balance of Trade, Foreign Exchange Rate and Nifty are relatively more volatile in comparison to Index of Industrial Production, Wholesale Price Index and Real Effective Exchange Rate. Table 1: Descriptive Statistics BOT FDI FER IIP NIFTY_CL REER WPI   Mean -33750.19   8658.104   1046881.   273.6208   4205.306   97.51708   224.6375   Median -29714.00   7836.500   1166866.   269.2500   4305.400   97.56500   226.5500   Maximum -15376.00   22529.00   1301645.   347.3000   6144.350   106.0900   250.5000   Minimum -69925.00   2405.000   690730.0   225.2000   2674.600   87.48000   199.0000   Std. Dev.   14217.27   4646.714   214050.1   26.96276   872.2687   5.679449   15.35988   Skewness -0.759591   0.869245 -0.452362   0.620278   0.098875 -0.074652   0.116621 Co-eff. of Variance -42.125 53.66896 20.44646 9.854061 20.7421 5.824056 6.83763   Kurtosis   2.751454   3.416896   1.530345   3.330791   2.359419   1.856711   1.689008   Jarque-Bera   4.739378   6.392298   5.956823   3.296808   0.898900   2.658803   3.546204   Probability   0.093510   0.040919   0.050874   0.192357   0.637979   0.264636   0.169805   Sum -1620009.   415589.0   50250309   13133.80   201854.7   4680.820   10782.60   Sum Sq. Dev.   9.50E+09   1.01E+09   2.15E+12   34168.56   35760076   1516.039   11088.51   Observations   48   48   48   48   48   48   48 The first and simplest type of test one can apply to check for stationarity is to actually plot the time series and look for evidence of trend in mean, variance, autocorrelation and seasonality. If any such patterns are present then these are signs of non-stationarity. The seven time series displayed in figure-1 exhibit different such patterns. Foreign Exchange Reserve, Index of Industrial Production and Wholesale Price Index seem to exhibit a trend in the mean since they have a clear upward slope. In fact, sustained upward or downward sloping patterns (linear or non-linear) are signs of a non-constant mean. The time series on Balance of Trade, Nifty and Real Effective Economic Rate in the figure contain an obvious trend in both mean and variance. This is a sign of non-stationarity. Figure 1: Dataset Graph Apart from visual inspection, formal test for stationarity is essential to opt for appropriate methodological structure. As a first step, we tested all the variables (Balance of Trade, Foreign Exchange Reserve, Foreign Direct Investment, Nifty, Real Effective Economic Rate, Index of Industrial Production and Wholesale price index) for stationarity by applying ADF, PP unit root test and KPSS stationarity test. The result of ADF, PP and KPSS statistics are given in table-2. On the basis of ADF statistics and PP test, all the series are found to be non-stationary at levels except Foreign Direct Investment which is significant at one percent. Further, ADF statistics and PP test rejects null hypotheses of unit root in case of first differences for all the variables. In the end, KPSS test is also applied which has a null hypothesis that series is stationarity. In this case, all variables are non stationary in levels (except nifty) and stationary in first differences. Assuming all the varia bles are non-stationary at levels and stationary at first differences on the basis of ADF, PP, KPSS tests and visual inspections, Johansenà ¢Ã¢â€š ¬Ã¢â€ž ¢s approach of cointegration and Granger causality test have been applied. Table 2: Unit Root Test Variables Null Hypothesis: Variable is non-stationary Null Hypothesis: Variable is non-stationary Null Hypothesis: Variable is stationary Augmented Dicky Fuller Test Statistic Phillips-Perron Test Statistic Kwiatkowski-Phillips- Schmidt-Shin test statistic Level First Difference Level First Difference Level First Difference t- statistic p-value t- statistic p-value t- statistic p-value t- statistic p-value LM-Stat. LM-Stat. BOT -2.389654    0.1500 -7.779047* 0.0000* -2.389654    0.1500 -7.724768* 0.0000* 0.515649** 0.043815 FER -1.795759 0.3781   -5.191802* 0.0001* -1.651677    0.4488 -5.360630* 0.0000* 0.759324* 0.341829 NIFTY_CL -1.638304    0.4554 -6.201501* 0.0000* -1.727747    0.4110 -6.205292* 0.0000* 0.145549 0.086579 REER -0.958878    0.7602 -5.515513* 0.0000* -1.236302 0.6510 -5.591141* 0.0000* 0.422529*** 0.184626 IIP 0.234639 0.9719 -8.117466* 0.0000* -1.213731 0.6609 -13.32941* 0.0000* 0.823505* 0.133640 WPI -0.812230 0.8061 -3.547469** 0.0109** -0.756054 0.8220 -3.643894* 0.0085* 0.860559* 0.046077 FDI -3.962301 0.0035* -10.05718* 0.0000* -3.955949 0.0035* -10.26543* 0.0000* 0.378648*** 0.065507 Asymptotic critical values*: 1% Level -3.48 -3.48 0.74 5% Level -2.88 -2.88 0.46 10% Level -2.57 -2.57 0.35 Figure 2: Dataset Graph To explore whether there is any long-run relationship between Indian stock markets and macro economic variables such as exports, exchange rate, index of industrial production, foreign direct investment, interest rate and money supply, Johansenà ¢Ã¢â€š ¬Ã¢â€ž ¢s cointegration test has been applied. The number of lags in cointegration analysis is chosen on the basis of Hannan-Quinn Information Criterion. Before discussing the results, it is important to discuss what it implies when two variables are cointegrated and when they are not. When two variables are cointegrated, it implies that the two time series cannot wander off in opposite directions for very long without coming back to a mean distance eventually. But it does not mean that on a daily basis the two series have to move in synchrony at all. When two series are not cointegrated it implies that the two time series can wander off in opposite directions for very long without coming back to a mean distance eventually. As is concluded by unit root tests that all the variables considered except the Foreign Direct Investment (FDI) are I(1), while the FDI is I(0). So for the testing of cointegration among the variables, the FDI is dropped from the further analysis. Results indicate that Nifty and Wholesale Price Index may be cointegrated in the long run as the results vary depending on the varying assumption about trend and intercept. However, all other variables and Nifty are not cointegrated in the long run under all assumptions. In case of Balance of Trade Nifty, Foreign Exchange Reserve Nifty, Real Effective Exchange Rate Nifty and Index of Industrial production à ¢Ã¢â€š ¬Ã¢â‚¬Å" Nifty, there is no evidence of co-integration. (See table-3). Table 3: Johansen Co-Integration Test: Nifty and Other Macro Variables (Number of Cointegrating Relations by Model) Data Trend: None None Linear Linear Quadratic Test Type No Intercept Intercept Intercept Intercept Intercept No Trend No Trend No Trend Trend Trend NIFTY_CL à ¢Ã¢â€š ¬Ã¢â‚¬Å" BOT(1) Trace Max Eig 0 0 0 0 0 0 0 0 0 0 NIFTY_CL à ¢Ã¢â€š ¬Ã¢â‚¬Å" FER(1) Trace Max Eig 0 0 0 0 0 0 0 0 0 0 NIFTY_CL à ¢Ã¢â€š ¬Ã¢â‚¬Å" REER(1) Trace Max Eig 0 0 0 0 0 0 0 0 0 0 NIFTY_CL à ¢Ã¢â€š ¬Ã¢â‚¬Å" IIP(2) Trace Max Eig 0 0 0 0 0 0 0 0 0 0 NIFTY_CL à ¢Ã¢â€š ¬Ã¢â‚¬Å" WPI(2) Trace Max Eig 0 0 0 0 0 0 1 1 2 2*Critical values based on MacKinnon-Haug-Michelis (1999) **Appropriate lag is given in parentheses on the basis of Hannan-Quinn Information Criteria Table 4: Pairwise Granger Causality Tests Lags: 2   Null Hypothesis: Obs F-Statistic Prob.     D(WPI) does not Granger Cause D(NIFTY_CL)   45   0.38604 0.6822   D(NIFTY_CL) does not Granger Cause D(WPI)   0.99976 0.3770 Since there is no evidence of cointegration in the macro economic variables and Nifty series the test of Granger Causality is not applied between Nifty and such variables except Wholesale Price Index which is cointegrated with Nifty under the model of Linear Trend Intercept and Quadratic Trend Intercept. The test results in table 4 suggest that we fail to reject the null hypothesis of Granger non-causality from WPI to NIFTY_CL as well as the null hypothesis of Granger non-causality from NIFTY_CL to WPI. The results suggest that the NSE Index Nifty neither leads Wholesale Price Index nor Wholesale Price Index lead the Nifty. This implies that the stock market cannot be used as a leading indicator for future growth in wholesale price index in India. IV. Concluding Remarks The purpose of the present study is to explore the relationships between stock prices and the key macro variables representing real and financial sector of the Indian economy. These variables are the index of industrial production, foreign exchange reserves, foreign direct investment, balance of trade, real effective exchange rate, wholesale price index and NSE Nifty. The present analysis is based on monthly data from April, 2006 to March, 2010. Although there seems to be a significant relationship between macro economic variables and stock market but results of our study show that stock market boom is not much supported by the real economic fundamentals. Even there is no sign of causality between the variables which are integrated of same order which further concretizes the issue that stock markets in India are in their childhood phase as their impact on real economic variables is less as that in developed countries and moreover effect of real economic variables is almost nil on stock market index in case of causality. To solve this problem monthly data was used from April 2006 to March 2010 and the basic and believed to be à ¢Ã¢â€š ¬Ã…“indicatorà ¢Ã¢â€š ¬? variables were used and studied and analysed by first applying the basic statistical and analytical tools such as unit root test, cointegration and finally Granger causality. The results shows that series of variables used are not stationary at levels but at first difference. Further, there is no evidence of cointegration among the economic indicators chosen and Indian stock market except with inflation (Wholesale Price Index). Granger Causality test was applied between the two variables found integrated of same level I(1) i.e. Nifty and WPI. The analysis pointed that there are no sign of causality between the two variables and neither Nifty Granger causes WPI nor WPI causes Nifty. Thus implying that real sector is not causing the vibes in stock market and even the volatility in it is due to some other external factors and not these real economic factors. Adding to it, is one more reason that just 2 to 3% of the Indian population invests in stock market which makes it not so good representative of the Indian financial health.

The Battle Of The World War - 1455 Words

It is generally considered that the Pacific War began on 7/8 December 1941, when Japan invaded Thailand and attacked the British Malaya, Singapore, and Hong Kong as well as America’s state of Hawaii, where they bombed the military bases there. Australia entered World War II shortly after the invasion of Poland, declaring war on Germany on 3rd September 1939. By the end of the war, almost a million Australians had served in the armed forces, who fought primarily in the European theatre, North African campaign, and the South Pacific theatre. The Second World War saw the involvement of Australian troops more than ever and the closest to home. In addition, for the first time in history, attacks were aimed at mainland Australia. According to esteemed British author and military historian Antony Beevor, â€Å"The Second World War was such a huge combination of different conflicts that it’s almost impossible to point to a single battle as a turning point† During the war some turning points for the Allies were; The Fall of Singapore, The Bombing of Darwin, The Battle of the Coral Sea, The Battle of Midway and The Kokoda Campaign. The United States Forces also played a big role in the war in The Pacific Theatre and the turning points for The Australian Forces. The Japanese Bombing of Pearl Harbour on 7th December 1941 was the starting point of the war in The Pacific Theatre and a significant event for the Allies, Australia in particular. The attack severely damaged the main AmericanShow MoreRelatedThe Battle Of The World War1608 Words   |  7 Pages In 1914 the first World War broke out in the center of Europe which divided the great empires practically in half. 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Facebook Social Networking Site Free Essays

string(55) " disillusioned and wonder off as our attention drifts\." Against – Individuals connect through faceable to their co-workers or colleagues which helps them to remain up to date. – Faceable is used to advertise products which are relatively new in the market and can be easily purchased through faceable. – It is good way to update people about the recent events taking place nearby or in the world. We will write a custom essay sample on Facebook: Social Networking Site or any similar topic only for you Order Now – Faceable being a quick and effective way of communicating (people separated by time zones) can not be termed as a time pass activity. – Faceable teaches a lot of new aspects about different websites. Faceable is Just a fad that will pass Yes because†¦ No because†¦ The Web Is something rich and strange and Faceable Is not Back in 1988 before the Web arrived we used to play a lot of image based games around the internet, passing encoded images back and forth and basically working hard to make some sense of this dark network where no-one could see anyone else. From that point on for me the internet and the web have been a rich and strange something unknowable to the sum total of where we worked and played. Faceable doesn’t really do any of that. It’s a nice tidy ‘bur where everyone has more or less the same house, same garden, same car, same attitude. Sure, we can all add friends and Join networks and add applications, but it’s always clear that there is no curtain behind which strange things might lurk. Faceable is the Auber controlled environment – useful and wanted by many, but not pregnant with potentials. Faceable is more about the known than the unknown – and that’s a good thing. Who but the most insecure of us cares about having 429 ‘friends’, most of whom we wouldn’t talk to twice if we met them in real life. Faceable provides a way of connecting to the people you already know – but for one reason or another don’t stay in regular contact with. As we get older, settle down, have kids and spend more time at work, those little catch up chats or times hanging out with friends dwindle to almost nothing. That’s not to say you don’t like the people you don’t see as much, Just that they’re not in your immediate circle and the genuine desire to ‘meet up soon’ Just never gets realized. Faceable allows us to keep in contact with them through their status updates, when they add pictures, when someone they know tags them in a picture, when they add an app and ask a question – or in a hundred other ways. This is a way of connecting to them and of ensuring we know what they’re up to. It is therefore easier to send a quick note about their daughter or wish them a happy birthday. These small things break down the distance between us, they make the barrier of getting in touch smaller to cross – and they make the real world meetings more easy to make happen. Furthermore, faceable lacks clarity in who you are actually becoming friends with Faceable is Just a fad that will pass There are only so many new people Faceable is experiencing a huge wave of migration. This is held up as proof of the genius of Seersucker, and indeed in many ways they have played a blinder. From a closed College based network, they have taken a gamble to open up to anyone and everyone and seen it pay off begrime. The viral nature of Faceable is supreme, with member get member raised to a new artwork. Eve read dozens of articles about how all of someone’s friends have arrived in Faceable in the very recent past, usually it looks safe in here and there are lush pastures for the cattle. Then everyone else takes up residence, and as they overlap with other social groups, the process repeats itself. There is something engaging and exciting about arriving in n easy to understand social network, with tools to explore and people to Poke (ooh, the underlying sexual thrill of it all, it reminds me of my first disco, I didn’t know what that was all about either, but by God it turned me on). Face it, when someone invites you to Join Faceable and be their friend, its a cheap thrill to sign up and be that friend. If people want a social networking site there are millions, faceplate, hi, bebop, namespace etc†¦ Casebook IS a fad that will pass, as some person eventually will outdo it, one of these pages will take all it’s features and make something better, as yuccas has done with bebop, as bebop has done with faceplate, etc.. Anyone could log onto namespace, and minus a few ‘pokes’, they can pretty much do the same, look at their friend’s status updates, chat to their friends etc. Why should faceable be THE social networking site? And also, namespace is the site that seems to get all the hype for getting musicians noticed. So what’s the fad for bands? Namespace! Faceable is Just a fad that will pass There Just are no sophisticated tools in Faceable I’m used to some level of sophistication in my tools. I don’t mind using your online lolls, after all, it’s your community. But ifs, all I can do in my Groups is write on the wall? And then you can write on the same wall back to me. I can upload photos? Every time someone does something, I get sent an email without the content. There Just are no sophisticated tools in Faceable – everything is like a shallow version of what we’re used to on the outside. For sure, the APS have started to put some depth back into the system, but it’s hard to imagine that we’ll en masses abandon our email and our IM and our other contact and memory tools and use the stubs that Faceable offers. Not for a while anyway, we’ll get disillusioned and wonder off as our attention drifts. You read "Facebook: Social Networking Site" in category "Papers" Getting an email without the content was annoying, though this has now changed, and there are bound to be other parts of the site which don’t work as well as tools which are specifically designed for the Job. But if there is a demand for features not currently provided someone out there will provide them. And some of the features Faceable does provide, such as tagging photos, inviting others to events, and garnering support for a great cause, are great It’s also worth considering the value of Faceable as a social aggregation tool for non- chess. Sure you’re used to some sophisticated tools, but the majority of internet users aren’t. They’re people with non-technical Jobs who Just want things to work. Faceable works without anyone leaving the comfort of a great LU and the safety blanket known as a privacy controls. There are other colors I know this will sound very shallow and pathetic, but I really can’t imagine living with #baobab only for the rest of my life. As someone who was working with the web when there was not even any right align, let alone fancy layouts or the CSS wonders we see today, it pains me to have to use such a limited interface. With respect, it is the sort of interface that the East German government would have commissioned for their citizen network if they had lived to see in the true glory of the web. Where I come from we call this color Navy Blue and with good reason, children grow up to hate it. Allied to the fixed layout, baobab is the antithesis of everything that design stands for and everything that the web has taught us – that we are individuals and that we make and remake our environment to work with our needs and desires. Even Google, that great interface reducer, has relented and offered multiple funky interfaces to heir start pages. So what’s with the fascist control freakier? Don’t you trust me to change things the way I like ‘me? Think I might, like, go mad with funky colors? So what, that’s my freedom. Hammy, Faceable or Namespace which is the easiest to use? Given most people’s inability to create a readable web page I’m happy that Faceable restricts the look of its pages to one recognizable format. Give people free reign over the look of their page and they’ll go the flashy, blinks, confused way of Namespace. And there are friends I’d rather keep than lose for the knowledge of what they think looks cool. Call that a network? I live in Brighton Hove, East Sussex, UK. So for some reason that’s my network. It has 54,384 members who, I guess, live in Brighton and Hove. The total population of Brighton is 247,820, which means my network contains approximately one sixth of the entire population of this town. There are only 117032 15 to 44 year olds, which means that almost 50% of them are members of my local network. Huh? I mean, this is some kind of groovy town, but I find that rather unlikely. Every single sentient being between the ages of fifteen and forty-five in my town? I see I can go to a costume making event at pm or GUILFORD MONDAY UNITE at pm that’s Guilford, not Brighton, but hey). Popular in Brighton and Hove includes the faceable wide food fight and Britton’s Largest Water Fight. The Discussion Board has 164 discussion topics, starting with ‘How Many Wap To Say I Love You? , but frankly life’s too short. And then there’s The Wall. 754 posts starting with a bit of spam from Ben Williams. To say the will to live deserted me at this point would be an exaggeration, but to say the will to live in Brighton and Hove fled my feeble frame Just about sums it up. Why am I in this network? I am a sophisticated online denizen, I partake of and participate n hundreds of online societies and for a of all kinds. Some are good, some are bad, some are essential to life. But none are as depressingly pointless as this all consuming Brighton and Hove Network. And yes, I know I can change my regional network, but what exactly would be the point of that? I quite like seeing my local friends’ faces peering out at me from the sidebar – but that’s not quite enough to make it worthwhile. I guess this approach worked quite well when it was a college based network, but imagine what it is like to be a London or Shanghai network member – they’ve elevated inanity to a whole new level. Faceable offers a unique perspective to social networking in that you can friend people you know and the people they know to an extent. I find Faceable most useful for college because it helps the organizations I’m a part of invite people to our events. I can also find out about other group’s events on campus and even Join a greater cause to support Darker, let’s say. I’ve been able to keep in touch with people I went to kindergarten with! Granted most of them went to school with me since eighth grade, but it’s interesting to see where hey are based on how they were way when (the ass for us young folks). It’s cool to see how they’ve changed and how they’ve stayed the same. I’ve also been able to keep in touch with high school friends who I get to visit a few times a year back in California while I go to school in Philly. No matter what my URL is I’m still unique. Having a long URL with a combination of random numbers and letters doesn’t decrease individuality at all. Sure I have a lot of friends I don’t really talk to and some I have never met, but at least it opens the door to a conversation: â€Å"Hey we’re Faceable friends, right? In fact I was walking down the street yesterday, no Joke, and I saw two of my friends with one of their friends. We’d never met, but we were Faceable friends through each other. It was great to meet the guy and get to know him in person as much as it is to get to Basically the regional network lets you see people in the same one as you and helps people know where you’re from. I keep my network as Los Angles even though I go to school in Philly. It lets my friends know where I’m from. High school and college networks help you know who that person is trying to friend you and if you actually now them from somewhere. For now Faceable rocks. Let’s hope it doesn’t turn into another Namespace. Gaining Revenue for Networking Sites is Extremely Difficult Faceable, like Namespace, has not been able to successfully fund itself via advertisements. Click through rates are low, and Namespace has tried desperately to salvage funds from these ads. Menace’s home page is filled with ads that most users don’t click on. Case in point: http://www. Businesslike. Com/technology/ content/ Feb../tc2008024 252834. HTML? Chant=search Unless Faceable can gain revenue from ads it will suffer and possibly go bankrupt. Faceable knows how old I am, what interests and hobbies I have, where I live, what my social network looks like and even what my educational and work history is. Are you telling me that’s not a potential goldmine for advertising? Sure at the moment you get the generic breast enhancement and zany college t-shirt ads (or perhaps they’re not generic and faceable has decided that’s what I most want in life), which are going to generate as much response as any other banner and popup ads. But if Faceable can utilities it’s main resource, information, it will make Microsoft’s revenues look tiny. Faceable has been slow at incorporating music It can be argued by some that Faceable has taken over from Namespace in terms of which is the better social networking site. Although this may be valid, there is one area in which Faceable is clearly lacking – and that is music. One of the main building blocks of Namespace is the close links with music – bands can have pages on which they are able to upload their music and reach out to a new crowd, members may add a song to their profile which gives other users more of an idea what the person likes and there is even the Namespace record label, getting physical copied of USIA out. Although Faceable are now beginning to add pages for artists, these are not as built on the foundation of music so it will be more difficult now to lure over music lovers from similar social networking sites (such as Namespace, Purposeful and Buzzed) that cater more to their tastes. Admittedly it would seem that, thanks to it’s emphasis on music, Namespace is more popular amongst wannabe rock stars than Faceable. On the other hand almost every university student in the I-J (and I’m assuming the US, Australia etc) has a faceable account, in 10 to 15 years time that will mean that he majority of the best paid 50% of society in the English speaking world have faceable accounts. Let’s see which contributes better to the long term survival of the respective business models. People have been put off by scandals concerning identity fraud If a ‘fad’, then Passbook’s passing will only have been hastened by the widespread concerns over identity theft as reported in the UK national press. Perhaps more importantly, people have grown increasingly aware and scrutinizing of Passbook’s capacity to allow potential employers to ‘snoop’ on one’s character as an employment suitability exercise. In short, people grow less and less eager to share their lives on the web, curiously perhaps because Faceable has been thrown open to wider and wider groups of people. Privacy controls? My friends get annoyed that they can’t trawl idly through photos of me surging drunkenly at a camera, but it means I’m less likely to get fired in the future. And I also highly suspect that the potential employer snooping is a little bit of an urban myth, seeing as even if you drag all the privacy slider bars down to their minimum your profile is still only visible to those in your network. Just bad luck if you .NET to the same Nun as your prospective boss I guess. If celebrities are punished more severely then surely other influential people should also be. There are many people within society who make huge decisions regarding our country and who have the potential to endanger thousands of lives with their decisions if those decisions were influenced by drugs and alcohol. It has been speculated for many years that highly trained professionals such as consultant doctors, airline pilots, and managing directors who have huge responsibilities also punished for their influential status surely it would only be fair to find these individuals as well and severely punish them ? There is a trend and acceptance regarding drug taking among celebrities but celebrities lives often require them to speak in front of millions of people, they are Judged constantly by society and the media and anything short on perfection is publicly ridiculed. It might be that they choose this fate for fame and fortune however if other people who benefit from this national recognition are found to be taking drugs this argument implies they too should be punished and although it might be wrong for these people to take drugs ND alcohol I doubt that our country would work in the same way if these people were punished in a way that prohibited them from working for an extended period of time. Many of our greatest, artists, musicians and composers took a wide and varied selection of drugs some of which used these substances to influence their work. How in this day and age can we separate artist from celebrity. This point does not even remotely relate to faceable will have a large impact on coming generations†¦ Face book and other socio s will probably be adding to the knowledge of the youths all over the world especially the teens.. TTS the time when the teenagers absorb the special interest on getting connected through some or the other way with their friends and contacts†¦. What is actually binding everyone to face book is the likes of its easy and simple networking process . Ace book uses a very simple way of connecting a person to another which makes it a very advanced and widely proffered compared to the others. Faceable with its such wide network would be difficult to end or quit but surely be fading out because of advancements and dynamism in peoples lives. It helps me to communicate and stay in touch with friends However you have to have the acceptance of the friend you wish to be in contact with. In any case, some day, another site will pop up that makes it Just as easy to communicate with people, and everyone will flock to that. Namespace usage plummeted when Faceable became popular, and when another â€Å"next big thing† emerges, no doubt Faceable usage will go the same way. It’s accusable and easy, it’s a free way to remain in touch with people. Internationally especially. It enables people to get in touch with old friends If you’ve fallen out of touch with people it’s usually for good reasons. Not to say that our old friends are bad people Just that you’ve both moved in different directions. I’ve had a few different emails from long-lost friends and after the initial wonder of seeing them again there’s not much which really connects us. You can find people that you haven’t been in contact with for years, or maybe went to school with. Faceable is good too for students based in a university environment as they can keep in touch with friends, online. Not only at university, but School contacts too. Its a useful way to find out how your school friends have got on in life and to even arrange a reunion. If, after all, relationships made in school fizzled out once the connection of going to school together is lost – they wouldn’t have added you would they? As a university student, faceable is simply, but wonderfully, a device to contact friends about meeting up, homework etc rather than spending phone credit by testing. Faceable. A cheapskates haven. It’s free and easily accessible What’s wrong with calling them or going to visit them. We spend far too much of our time online and far too little in the real world. Faceable Just makes this worse. Faceable is ‘at home in your boxers’ Faceable is not real world socializing. People should hang out and visit friends not scribble something on their ‘wall’ or go ‘poking’ around complete strangers. It is cost effective and has made keeping in touch with my friends from home while I’m at nun much easier. Also sometimes real-time communication is less than practical. If someone lives in a different time-zone it may be difficult to Just phone the person. People invest too much time in Faceable to let go. The same was said of Namespace and Friends before it. Faceable is an addiction that will run out of steam and it is one that annoys many schools colleges and universities, so much so that is has been banned from being accessed either completely or during teaching hours. I think faceable possibly has a time and a place but it annoys me when people are taking up computer suites Just to chat, applicant or poke people on faceable. Students are the biggest users of faceable and spend hours on it unknown to them that half the day has gone. I think it is something which Faceable has its pros and its cons. However, the matter of fact is that most Faceable users spend hours, days, weeks and even months customizing their profiles, finding rinds, adding photos and videos, creating groups and events. This is a heavy investment and most users will never seriously consider closing their faceable accounts. People have begun to identify themselves with their Faceable profiles. Hence, it is close to impossible for people to Just get off Faceable. Passbook’s Terms of Service ensures that people’s social information never leaves the walls of Faceable and therefore the social network will remain very popular and influential. Faceable has many practical applications and raises many more concerns. We have read quite a few of these in this debate. However, the question remains whether â€Å"Faceable is a fad that will Just pass†. I beg to differ. Social Networking is a whole new form of communication, of which Faceable is the most successful. Your argument is invalid. Did you even read the topic before posting? Its not saying social networking will die out, its saying (like namespace) Faceable will fade to the next amazing social networking site If you want to communicate with someone, in the old days you would either talk face to face or send a letter. Then came the telephone. Then came emails, further revolutionaries communications. Now there is social networking. Social networking is different. It can be very private, or very public. People have their own ‘space’ or ‘profile’ online, which people can search for as long as they know the persons name. No number or address is required or needs to be stored (and potentially lost). When you have a persons profile, you can add them as a friend in order to socially interact with them – which they must accept to facilitate the interaction (ensuring mutual consent of communications). When you are friends with someone, you can invite them to an event (along with an assortment of any or all of our friends) with a single click, and dispense information about that event. You can publicly display as much or little personal information about yourself as you wish. You can write on people’s walls to tell them information, which other people will freely be able to see. Suddenly people become so much more informed within their social circles, and for a social animal this is broadly positive. Faceable facilitates the spread of social information (or gossip) and people often consider faceable profiles to be an authority on a person (whether they are in a relationship, etc). How to cite Facebook: Social Networking Site, Papers

Internal And External Factors Of Companies - Myassignmenthelp.Com

Question: Discuss about the Internal And External Factors Of Companies. Answer: Companys Overview The company JB Hi-Fi was founded by Mr. John Barbuto (JB) in the year 1974, the company operates the trade from a single store in East Keilor, Victoria. the founder of the company follows the simple philosophy which says that the aim of the company is to offer the specialist variety of the Hi-Fi and recorded music at Australias lowest prices. JB stores provide the worlds leading brands of Computers, tablets, TVs, Cameras, Hi-Fi, speakers, Car Sound, Home theatre, portable audio and much more. Along with this the company also provide the largest range of games, recorded music, TV shows, DUD music + Blu-Ray at the lowest process so that the customer can buy the products from the stores or through online (JB Hi-Fi, 2017). The company is known because of its cheapest price of the products, convenient location, a wide range of the products, best brands and the personal service from the experienced specialist staff. The sale of the products in the year 2016 was more than the past few years. For instance; total sales up 8.3% to 3.95 billion, comparable sales up 5.4%, EBIT up 10.1% to $221.0 million, Net profit after task up 11.5% to $ 152.2 million and earnings per share up 11.5% to 153.8 cps (JB Hi-Fi, 2017). Environmental analysis The environmental analysis is used to identify or to determine the internal and the external factors that can create an impact on the working of the company or can influence the organization while making the strategic decisions. The analysis is done to assess the level of threat and the opportunity that the company is having across the borders (Fernie, Fernie, and Moore, 2015). JB Hi-Fi makes use of the PESTLE analysis as it works as an analytical tool that is used by the company while making the strategic business planning. It is a strategic framework used by the company for assessing the external factor influence in their business. PESTLE analysis includes political, economic, socio-cultural, technological, legal and environmental factors. All these factors can affect the working of the company but there is one of the factors that work as a huddle for the company that is a political factor (IEDU, 2017). Impact of political factors on company Political factors play a vital role in analyzing the factors that can create an impact on the JB Hi-Fi Limited. These factors consist of the changes in the legislative, policies and the laws formed by the government. The political factors impact the company while making the long-term profitability objective in a certain market (JB Hi-Fi, 2014). The company is currently operating the business of retailing in more than dozen countries and this shows that the company has been experiencing the different types of the political system risks. The company is facing the issues in many of the countries and then also the company is able to achieve the success in the retailing industry. The company analyzed the political factors in the retail industry before expanding the business (Fern Fort University, 2017). It is suggested to the company to the analysis below given certain aspects while entering the market or country. The company should find the country where they can find the political stability and the importance of the retailing sector in the country's economy. The political factor involvement in business can create an impact on the working of the business and especially the retailing sector. The JB Hi-Fi should consider the trade regulations and the traffic related to the retailing might affect the expansion of the business in the potential market (Fern Fort University, 2017). The pricing strategies or the pricing regulatory mechanism for retailing can affect the revenue of the company so the company should cross check these factors before expanding the business. Wage legislation such as minimum wage and overtime wages criteria of the market can affect the working of the company. The safety regulations related to the retailing sector can affect the working of the JB Hi-Fi and this is the reason which makes the company to analysis this factor before doing an expansion. The work regulation might vary from company to company in the retailing industry so the company analyses the work regulation of the market or the country before expanding the business (Root, 2017). In Australia, there were some of the political issues which show the real-life experience faced by the company. For instance; the ATO (Australian Taxation Office) was reduced from 30% to 25% which might lead to a reduction in the prices of all the products provided by the company to its customers to attract the customers. This shows that the company took the step considering the political condition of the company and according to the political factor company brought the changes in the strategy to enhance the sales and revenue of the company. CSR (Corporate social responsibility) and ethics The CSR (Corporate social responsibility) is a form of the corporate self-regulation integration into a business model (Korschun, Bhattacharya, and Swain, 2014). CSR is the business approach that contributes to the sustainable development by delivering social, environmental and economic benefits to all the stakeholders of the company (Servaes, and Tamayo, 2013). Each and every company understand their responsibility towards the stakeholders and the society. Similarly, the JB Hi-Fi fulfills its responsibility towards the environment and the social responsibility. The manager of the company knows that they have to fulfill their responsibility towards the community and the stakeholders; if the company is able to fulfill their responsibility then the company can get the funds easily for the expansion which leads to the growth of the company (Tai, and Chuang, 2014). The company has launched the program so that they can fulfill their responsibility towards the community. The name of the pr ogram is helping hands, through which the company is motivating the employees to contribute and this make the youth realize that they are responsible for the welfare of their community (JB Hi-fi, 2017). Helping Hands JB Hi-Fi Company knows the vital importance of the social responsibility to employees, suppliers and the customers being the leading retailer in Australia and New Zealand. The company established a new program known as Helping Hands in the year 2008 through which the company can easily fulfill its social responsibility towards the community and the stakeholders. The directors, executives and the employees of the company directly donate the amount to the charitable organization. The company works with the ACF (Australian Charities Fund) in Australia, so that company can develop and maintain the program smoothly in Australia (Australian Charities Fund, 2017). The motive behind the formation of the program- Helping Hands allows the employees to donate to 9 charity partners through weekly basis deductions from the payroll. In Australia: - The programs involve more than 4,700 employees which are approximately 68% of the employees of the company in Australia, each of the employees of the company making the contribution to the program weekly. There are many partners who are donating such as The Song Room, Bush heritage Australia, Medicins San Frontiers, Red Kite, ReachOut.com, Australian Animal Welfare league, Fred Hollows Foundations and many others (JB Hi-Fi Solution, 2017). In New Zealand: - The JB Hi-Fi came into the existence in the year May 2012, hence it includes 210 employees (Approximately 43% of New Zealand office employees). These employees do make the contribution every week for this program. Several New Zealand partners who support the program by contributing to the program consist of Shelter Box, Plunket, Forest and Bird and many others (JB Hi-Fi Limited, 2013). Change for change The change for change represents the donation boxes that are kept by the company across all its stores in New Zealand and Australia. To collect the amount from the customers, JB Hi-Fi though to keep the donation boxes in the store near the cash counter so that people can easily find it. The company collected approximately $50,000 amount from the Australia stores and in total last year company raised approximately $ 485,000. Last year the boxes were introduced in New Zealand as well and they collected approximately $ 25,000 (JB Hi-Fi Limited, 2013). The company identifies the responsibility to give back to the society and community. JB believes workplace giving or donation is an effective and efficient way to perform the responsibility towards the society. The company has approximately 6,000 members of the company who contributes to the program on a weekly basis which is approximately 81% of our staff nationally. The company is proud that the company is getting the support from the Australian Charities Fund to achieve their goal of No. 1 Mdonors by 2020. To achieve the objective successfully the company matches staff contribution dollar-for-dollar as the company wants to double the positive impact on community and charities. Organisation culture The organizational culture is a system of shared assumptions, beliefs, and values that govern how the people behave in the organization. Every company wants to maintain a smooth organizational culture that helps the company in operating the business activity correctly (Babnik, et.al., 2014). JB Hi-Fi wants to maintain the unique culture in their organization by promoting the donation. The thinking, opinion and the views of the company are totally different which make the organizational culture of JB Hi-Fi unique.The company follows positive organization culture along with this the company supports the innovative technology and creativity that shows the companys culture. The company follows the smooth way for the communication, the managers of the company communicate with their employees and ask for the improvement in the plans formed by them to attract the customer and meet their expectations. The communication is the base of the organizational culture; this communication makes the e mployees feel respected and valued. This enhances the morale and motivates the employees of the company which leads to the growth in the productivity of the company. The productivity opens ways for the growth and opportunities of the company. Apart from the company promote the activities related to the donation and also promote the employees to support them which show the other side of the culture of the JB Hi-Fi. The company is forming partners to achieve their responsibility and their mission towards the donation programs, this gives a glimpse of the culture of the organization. Personal Insights Quiz Criteria Serial Number 1-Strongly Disagree 2-Disagree 3-Uncertain 4-Agree 5-Strongly agree I like the thrill and excitement from taking risks. 2-10 I prefer managers who provide detailed and rational explanations for their decisions. 2-11 If a persons job performance is inadequate, its irrelevant how much effort he or she made. 2-12 No persons needs should be compromised in order for a department to achieve its goals. 2-13 I like being part of a team and having my performance assessed in terms of my contribution to the team. 2-14 I like to work where there isnt a great deal of pressure and where people are essentially easy-going. 2-15 I like things to be stable and predictable. 2-16 Analysis and Interpretation 2 (2-10) + 3 (2-16) + 1 (2-12) + 2 (2-13) +5 (2-14) + 5 (2-15) + 3 (2-11) = 21 As it is clear the scores of the 2-11 and 2-16 have been switched and the total is 21 out of 35. The score of the 21 or lower shows that my preference for the organizational culture, according to the score the organization culture is more comfortable in a mechanistic, formal, rule-oriented and the structured culture. this preference of the score is mostly linked with the large organizations and the government agencies. Considering the survey, the lower the number of the survey shows the stronger preference for the type of the culture. Review The company is leading in the retail sector and the company is achieving success and making a profit. Being an employee it is going to be a pleasure for working in the company who is leading, as this is the good opportunity to start the career. The organization can guide the employees for their future growth and for achieving their personal knowledge. JB Hi-Fi helps the employees in enhancing their knowledge related to the concepts along with the creativity and innovation. Conclusion The report shows the business activity that is followed by the selected business JB Hi-Fi. The company is leading in the retail industry in both the countries; New Zealand and Australia. This proves that the objective of the company is to achieve the growth and success. Further, there is a discussion about the external factors that can affect the working of the company. One of the factors is discussed in the report which is Political factors; this factor might affect the decisions of the company (Mordon Inttelligence, 2016). The organizational culture of the company is discussed in the report and according to the survey, the employee shows their preference for the organizational culture. The analysis and the interpretation of the survey are included in the report. The Quiz analysis is done which show the total score of 21 which is favorable and fulfills my preference. References Australian Charities Fund, 2017, Helping Hands at the Centre of JB Hi-Fi Culture, Retrieved 17th December 2017, https://www.1mdonors.org.au/case-study/helping-hands-at-the-centre-of-jb-hi-fi-culture/ Babnik, K., Breznik, K., Dermol, V. and Trunk irca, N., 2014. The mission statement: organisational culture perspective.Industrial Management Data Systems,114(4), pp.612-627. Fern Fort University, 2017, JB Hi-Fi Limited PESTEL Environment Analysis, Retrieved 17th December 2017, https://fernfortuniversity.com/term-papers/pestel/nyse4/6096-jb-hi-fi-limited.php Fernie, J., Fernie, S. and Moore, C., 2015.Principles of retailing. Routledge. IEDU, 2017, Internal and External Environment Factors that Influences Organizational Decision Making, Retrieved 15 December 2017, https://iedunote.com/organizational-environment-elements JB Hi-Fi Limited, 2013, Annual report for the financial year ended 30 June 2013, Retrieved 17th December 2017, https://member.afraccess.com/media?id=CMN://3A392967filename=20130812/JBH_01432775.pdf JB Hi-Fi Solution, 2017, JB Hi-Fi Helping Hands, Retrieved 17th December 2017, https://solutions.jbhifi.com.au/project/helping-hands/ JB Hi-Fi, 2014, Empowering culture that has a positive outlook on the challenges presented by the current economic conditions", Retrieved 17th December 2017, https://www.glassdoor.com.au/Reviews/Employee-Review-JB-Hi-Fi-RVW4880156.htm JB Hi-Fi, 2016, JB Hi-Fi Full Year 2016 Results, Retrieved 17th December 2017, https://www.jbhifi.com.au/Documents/Company%20Announcement%20-%202016%20Full%20Year%20Results.pdf JB Hi-Fi, 2017, About us, Retrieved 17th December 2017, https://www.deakin.edu.au/students/studying/study-support/referencing/harvard JB Hi-fi, 2017, Corporate Social Responsibility, JB Hi-fi, retrieved 17th December 2017, https://www.jbhifi.com.au/General/Corporate/Consumer-Matters/Corporate-Social-Responsibility/ JB Hi-fi, 2017, JB Hi-Fi Solutions, retrieved 17th December 2017, , https://www.jbhifi.com.au/General/Corporate/commercial-solutions/solutions-sales/ Korschun, D., Bhattacharya, C.B. and Swain, S.D., 2014. Corporate social responsibility, customer orientation, and the job performance of frontline employees.Journal of Marketing,78(3), pp.20-37. Mordon Inttelligence, 2016, Retail Industry in Australia Major trends, Growth and Opportunities (2016 - 2021), Retrieved 17th December 2017, https://www.mordorintelligence.com/industry-reports/retail-industry-in-australia Root, G.N., 2017, Five Components of an Organization's External Environment, Retrieved 15 December 2017, https://smallbusiness.chron.com/five-components-organizations-external-environment-17634.html Servaes, H. and Tamayo, A., 2013. The impact of corporate social responsibility on firm value: The role of customer awareness.Management Science,59(5), pp.1045-1061. Tai, F.M. and Chuang, S.H., 2014. Corporate social responsibility.Ibusiness,6(03), p.117.

Factors Effectiveness of Delta Plc Team

Question: Discuss the factors which contributes to team effectiveness within Delta Plc using the team effectiveness model? Answer: Factors Effectiveness of Delta Plc team Team size: With the help of evaluating the team size of delta Plc , managers and owner are able to maximize its productivity in order to ensure high level of team effectiveness. The greater the team members within the team of delta Plc the more would be man power resources would available for fulfilling the objectives of the company (Montana and Bruce 2008). In order evaluate whether the team is too large or too small for the specific project, member work together and examine whether the existing task has been efficient has been done or not. Feedback: Efficient communications strategy plays crucial role in developing the effective teams. In order to understand the scope of goals, delta Plc manager need to take feedback from their employees which will again influence the company to make decision making by keeping this in mind (Noe, 2013).. Feedback system helps to enhance the communication gap between the management and the team. Work review: Work review is another major factor which influences for effective team composition. With help of work review, managers of the delta Plc would be able to understand whether the team is performing as per their standard or not (Price, 2000). Work review will reduce the formal conflicts resolution in cases where team cannot effectively resolve the conflicts internally. Interviewing team members: lastly, interviewing the team member would also bring the effectiveness within the team. For instance, delta Plc would conduct an interview after the finishing the task where the series of question would be asked to the team members about their task and members that would increase the effectiveness within the team some of the question (Price, 2000). Some of them are tell me about a team project that you worked on, describes the project that required input from people at different levels and tell about the time when you feel worked with difficult team member would bring best within the team. Reference list Montana, P. J.; Bruce H. (2008).Management. Hauppauge, New York: Barron's Educational Series, Inc. Noe, R. A. (2013). Fundamentals of human resource management. New York, NY: McGraw-Hill/Irwin. Price, A (2000). Principles of human resource management: an active learning approach. London: Wiley-Blackwell.