CAPM’s Contribution to the Stock Market

The Capital Asset Pricing Model (CAPM) is a mathematical, analytical formula to help investors make the wisest decisions on the stock market. Before purchasing a common stock, an investor may use the CAPM (a mathematical formula) to estimate its expected returns. The Model may be used for all kinds of assets. In brief, the CAPM helps to explain â€Å"the relationship between the risk of a particular asset or stock, its market price, and the expected return to the investor (â€Å"Capital Asset Pricing Model or CAPM,† 2007). By using CAPM as a tool to project expected returns from stocks, investors automatically affect the demand and prices of stocks sold on the market. The CAPM starts out with the assumption that there are two kinds of risks that must be assessed before an investment decision is made. Systematic risk includes risks facing the market as a whole and that cannot be dampened through portfolio diversification. Examples of systematic risks include rates of interest and economic slumps (McClure, 2008). While systematic risks must affect all stocks at the same time, unsystematic risks or specific risks are risks that are â€Å"specific to individual stocks and can be diversified away as the investor increases the number of stocks in his or her portfolio (McClure). † Of course, good investors are well-versed in investment theories such as the modern portfolio theory, which clearly states that diversification cannot resolve the issue of systematic risks, although specific risks may be easily handled by diversifying an investment portfolio. CAPM was developed as a way to address the issues raised by the modern portfolio theory. This Model is a tool to measure systematic risks as well (McClure). The Risk Glossary explains the importance of estimating systematic risk before the formula for measuring such risk is described: According to CAPM, the marketplace compensates investors for taking systematic risk but not for taking specific risk. This is because specific risk can be diversified away. When an nvestor holds the market portfolio, each individual asset in that portfolio entails specific risk, but through diversification, the investor's net exposure is just the systematic risk of the market portfolio. Systematic risk can be measured using beta. According to CAPM, the expected return of a stock equals the risk-free rate plus the portfolio's beta multiplied by the expected excess return of the market portfolio. Specifically, let and be random variables for the simple returns of the stock and the market over some specifi ed period. Let be the known risk-free rate, also expressed as a simple return, and let be the stock's beta. Then where E denotes an expectation (â€Å"Capital Asset Pricing Model,† 1996). The formula of CAPM is considered its conclusion (â€Å"Capital Asset Pricing Model†). To put it simply, the formula states that â€Å"excess expected return† of a stock is dependent on the beta of the stock rather than the stock’s volatility (â€Å"Capital Asset Pricing Model†). The same can be stated for an investment portfolio. Another way to explain the formula is that â€Å"the stock's excess expected return over the risk-free rate equals its beta times the market's expected excess return over the risk free rate (â€Å"Capital Asset Pricing Model†). † Or, excess expected return from a stock is dependent on systematic risk rather than the total of risks (â€Å"Capital Asset Pricing Model†). As suggested previously, by knowing the beta and expected returns for a certain stock or asset, investors are able to bid up or down its price. Expected returns are adjusted so long as the formula has not been satisfied. Thus, the Capital Asset Pricing Model ends up predicting the equilibrium price of a stock or asset. One of the assumptions of the model is that all investors agree on the expected return of certain stock or asset as well as the beta. Although this assumption is unrealistic, the CAPM is believed to affect the stock market by urging investors to raise the demand for particular assets or stocks as compared to others, based on the information they obtain through the use of the Model (â€Å"Capital Asset Pricing Model†). Apart from the unrealistic assumption of CAPM mentioned above, there are other problems with the Model that experts have identified by way of research. As an example, Eugene Fama and Kenneth French, upon considering expected returns on the American Stock Exchange, Nasdaq and the New York Stock Exchange for a period of 27 years, found that the differences of beta do not consistently describe the performance of stocks (McClure). McClure reports that the study conducted by Fama and French is not the only one that raised doubts about the validity of the Capital Asset Pricing Model. A major problem with the Model is the fact that beta cannot be used as a sure predictor of the reaction of stocks to various changes. All the same, the CAPM continues to be used by countless investors around the globe (McClure). In other words, beta continues to affect investment decisions that run the stock market day after day. References Capital Asset Pricing Model. (1996). Risk Glossary. Retrieved Nov 4, 2008, from http://www.riskglossary.com/link/capital_asset_pricing_model.htm. Capital Asset Pricing Model or CAPM. (2007). Money Zine. Retrieved Nov 4, 2008, from http://www.money-zine.com/Investing/Stocks/Capital-Asset-Pricing-Model-or-CAPM/. McClure, B. (2008). The Capital Asset Pricing Model: An Overview. Investopedia. Retrieved Nov 4, 2008, from http://www.investopedia.com/articles/06/CAPM.asp.

“What is right and wrong?” and “What is Truth?”

Life is characterized by many situations that require decision making, especially on moral grounds. The issue of what makes an action right and wrong has been studied for a lengthy period of time and several theories developed to address this issue. Socrates and Aristotle are some of the early philosophers who came up with theories about the rightness or wrongness of actions. As noted by Warnek (2005), Socrates considered self-knowledge as necessity of life and also, an important ingredient to success. Socrates stated that every individual needs to attain self-knowledge which is acquired by studying every fact necessary for existence. Socrates believed that by possessing knowledge about what is right, individuals are most likely to perform good deeds and that the bad deeds in the society come from those who are ignorant of what is right and wrong. Socrates proposed that, by being aware of the spiritual and mental consequences of wrong actions, no individual would even consider engaging in such actions. According to Socrates, any individual who is aware of a truly right action will automatically choose it over the wrong one. Aristotle on the other hand stated that all humans have physical, emotional and rational natures. Of the three, Aristotle considered the rational nature as not only being the most important of the three but also uniquely human and fundamental to philosophical self-awareness. Aristotle encouraged moderation and regarded extreme actions as being immoral and degrading. For instance, recklessness and cowardice are extreme virtues of courage. Therefore, According to Aristotle, humans should strive to live well by letting their actions be governed by moderate virtues. He further stated that this way of life can be achieved by choosing the right things in life at the right time and place. The ethical theories associated with the modern era include consequentialism and deontology. Consequentialism is made up of moral theories that propose that the rightness or wrongness of an action is determined by the outcome or the consequences of the act (Darwall, 2003). Thus, from the perspective of a consequentialist, a morally right act is one that results in a positive or good outcome. Consequentialist theories put a lot of weight on outcomes when assessing the rightness or wrongness of actions. Generally, according to consequentialists, consequences always outweigh all other considerations when determining right and wrong. Most of the consequentialist theories generally address issues like consequences considered as good, the main beneficiaries of moral actions, the mode or judging consequences, and who is to judge them. Consequentialism can be categorized according to the consequences that matter most. For example, hedonistic utilitarianists propose that good or the right actions are those that result in increments of pleasure, and the best actions are those that result in the most pleasure. The other category is that of eudaimonic consequentialism, who believe that the right action is one that ultimately aims at making an individual achieve a flourishing and full life (Darwall, 2003). Similarly, the consequence that matters most to aesthetic consequentialists is beauty and there are numerous other consequentialist theories that regard different things to be of uttermost importance. Deontologists differ from consequentialists in that, unlike consequentialists who examine the consequences when seeking to determine the rights and wrongs, deontologists examine the virtue of the act. Thus, according to deontologists, an act can be right even if it results in negative or bad consequences. Immanuel Kant is among the individuals who adopted the deontology when coming up with theories addressing righteousness and wrongness (Brooks & Dunn, 2009). Kant argues that individuals must act according to their duties if their actions are to be considered right and also that it is the motives of the individual carrying out the act that are the primary determinants of the rightness or wrongness of their actions. Postmodern ethics however approaches this issue from a different perspective. According to postmodernists, the world is full of rationality and if one is to determine the rightness or wrongness of an action, the individual would first have to study the complex situations surrounding the action. Thus, according to postmodernism, an idea cannot be simply regarded as right or wrong and there are no moral absolutes. For instance, if one were to find oneself in the Second World War, hiding a Jew in his or her house and a Nazi solder knocks on the individual’s door and asks the individual if he or she has any Jews in his or her house, would it be right or wrong to tell the truth knowing that his or her answer will determine if the Jew lives or not? Such an issue presents a complex moral dilemma given that it is wrong to tell a lie about the Jew being in the house but at the ame time, it is still wrong to let an innocent individual be killed when it can be prevented. For a long time now, individuals have utilized dilemmas like the one stated above to argue that there are no moral absolutes. The above situation is an example that one can use to argue that lying is not always wrong and that in such complex dilemmas, the right thing to do is determined by the act that results in a greater good. Most individuals in the world today embrace reality and argue that ethics is relative to individuals, time and the culture of the individuals. It is with such arguments that the world today is presented with numerous disagreements about issues like abortion, the death sentence, pre-marital sex and gay rights, to mention but a few. Most individuals have different views when it comes to interpreting the rightness or wrongness of some controversial issues such as the above mentioned. What is truth? The definition of truth may be simple but its interpretation is complex and just like the question of what is right and wrong, varies from individual to individual. A basic definition of truth is that it is that which is agrees with reality, actuality or simply, a fact (Rappaport, 1999). One way to approach the definition of truth is by considering that all the perspectives of approaching truth are equally valid and that truth is relative to an individual. This perspective that bases truth on realism is however faulty given the contradictions surrounding relativity. For instance, what is true to one person is not always true to another as shown by the contradiction between religious truths. Christians believe that Jesus is the son of God and the Messiah; a view Muslims do not agree with. This is not to imply that there are no absolute truths. An example of a sentence of absolutely truth is that, ‘something cannot create itself. ’ Logically, the thing would first have to be present if it is to possess the ability to create and if it already exists, then how would it create itself? The above example is truth based on logic but there are truths that cannot be logically explained for instance, stating that an individual truly loves another. It can be very difficult to use the theories of logic to explain the individual’s feelings. From the above examples, it can be concluded that truth is that which obeys the rules of logic and reality, or any of the two. Realism, to a certain degree agrees with logic and truth and therefore presents the best approach towards the determination of truth. To adopt a relative perspective however, individuals must be ready to acknowledge that a statement regarded as being true by one individual may not be acceptable by another.

Patriot Act Research Paper Example | Topics and Well Written Essays - 1250 words

Patriot Act - Research Paper Example Though there is some opposition to this act, with the opponents arguing that it has some abuse on the civil liberty and discourages free speech (Mascaro, W06). The opponents also argue that the act jeopardizes the privacy and the freedom of the American citizens, by legalizing the surveillance of their private life activities by the government. However, this notwithstanding, the act has gone a long way in ensuring the safety of the American people against terrorist attacks. Through the ability to intercept telephone lines and internet messages, the act allows the government to spy all the activities of the terror groups and individuals, and serve to apprehend those involved in such plans, just before the attack is full-blown (Mac Donald, 23). The act has many other provision all meant to guard against the planning and execution of criminal and terror attacks within the US and its other areas of Jurisdiction. Under this section 215 of the Act, the director of Federal Bureau of Investi gations (FBI) or a designee of the director may make an application for an order requiring the suspected individuals to produce anything tangible may it be books, papers, documents, for use in investigation against international terrorism (Mac Donald, 11). Such applications are to be made to a judge, who then grants the director such orders authorizing the suspect to produce such tangibles. However, such orders shall not disclose that they are issued for such investigations (Steranko, 36). The information that the FBI has sought such tangibles is not to be disclosed by any one, the person from whom they are sought inclusive. This section has served to protect the lives of the American people against terrorism. This is because, it allows the intelligence agencies to investigate suspected terrorists well in advance and that guard against a likelihood of them organizing and perpetrating terrorist attacks (Keller, A2). For example, this section allows the FBI to wiretap communication or obtain an order to search a home of an individual they suspect is an agent of foreign power, or a member of a terror network, without prior notice of search a search to the individual. The only concern the opponents raises is that there is no adequate protection against such violations occurring in the future. The section has effectively eliminated the limitations associated with specific target people and group from whom the materials and information is to be sought, since it is not possible to predict who the terrorist and the criminals are. By providing for the acquisition of such information from any one and any place, the provision ensures a complete coverage of all areas that are likely to be sources of terrorist threats, even when such sources are disguised. This is important, since libraries and bookstores can be a vital source of information for the terrorists and criminals. Section 805 of the Patriot Act makes provisions, which makes any offer of material support to terro rist or terrorist organizations in the US illegal (Mascaro, W06). The definition of crime under this section is broadened to illegalize the provision of support to include monetary instruments, financial securities, and any form of expertise advice or assistance (Steranko, 38). This section has served to protect the American people from terrorist attack, through ensuring that no support is obtained domestically by the terrorist from their terror networks or

Female Bloggers Assignment Example | Topics and Well Written Essays - 2500 words

Female Bloggers - Assignment Example She has been on the blog since August 2004 and has had over 50, 000 profile views but the blog entries stop in September 2010. The blogger writes about her personal experiences and expresses her thoughts, views, and concerns about her family, friends and constantly gives an update about the situation in Iraq. This is a traditional blog as opposed to a news blog. Her journey begins as a new wife of an Iraqi man and she takes us through the changes she experiences over the course of six years. She also writes about her experiences of being a mother and gives detailed accounts of her visits to her motherland i.e. Iraq. In her last entry, she has thanked all her fans and discloses her permanent shift to the United States. She says that the new beginning of her life in the United States would not allow her to communicate via the blog and thus breaks the news of stopping any further blog entries (Neurotic Iraqi wife). She has a good writing style and articulates her thoughts well. It is very informal and there is no use of technical jargon which makes it easy to read. Her ideas are consistent, while her writing is coherent and fluent. Often when telling a story, she makes use of â€Å"anadiplosis†. This is when the same word or words are used at the end of a sentence and the beginning of a new one. She makes good use of this technique when she wants to grab the attention of the reader and overemphasize something. This example can be found in the following sentence where she writes â€Å"Today after all these years I stopped asking. I stopped asking †¦Ã¢â‚¬ ¦..† (Neurotic Iraqi wife). The blog has a background image of a woman standing in a mosque. The subtle brown color of the blog coupled with the light gold imprints of the writings gives it a very surreal touch. It is aesthetically pleasing to the eyes.  

Immigration Policies in the USA Essay Example | Topics and Well Written Essays - 1750 words

Immigration Policies in the USA - Essay Example Policies throughout the years are at constant change, especially when they need to adapt to ever-changing matters like demographic impact on a society, ideological shift or even immigration issues. The progress of the policy change regarding immigration in the U.S. went through three phases. The first one was ‘the laissez-faire’; the second was ‘the qualitative restriction’ and the final phase ‘the quantitative restriction’ . Policy-makers went through these varies stages to accommodate foreign immigrants, while maintaining the native-born American identity. This finally poses the question; in how far has the issue of contemporary immigration in the U.S. affected the policy making and the American society? Moreover, it will answer the question of whether rights and liberties have been infringed upon, due to the current or altering immigration policies. This paper will also shed light on the fairness of the passed legislations to deal with the issue at hand. Additionally, it will expound whether features of American politics will hinder or expedite changes to the issue at hand. Finally, the paper will conclude on how far the contemporary immigration issue in the U.S. has affected both policymaking and society. American experience has been overspread by the culture of immigration ever since the first European settlers set foot in North America. Immigration is indeed a chain that ties many of the values that unite Americans. Not only is the vision of the U.S role in the world designed by immigration but it also trickles our view of human nature. A phenomenon that â€Å"will construct a new race, a new religion, a new state, a new literature† in the United States was seen by Ralph Waldo Emerson. The concerns about ethnic relations, the environment, social services, economy & other issues have been jostled by the sentiments evoked in the public policy arena by the idealism that surrounds the immigration. The debate over immigration has been expanded in the recent years, in order to broaden the range of foreign policy issues. The world refugee crisis, human rights, international trade, Latin America and the national security are the features of argument on U.S. It is crucial for American s to have an understanding of the issues that concern the long term goals for immigration policy, as per Congressional representatives debate for reform for current immigration law proposes. Issues related to border control, law enforcement and undocumented workers are current the primary focus of the existing proposals. Other issues such as human rights, the economy and the environment and security are the additional concerns raises by the proposed legislative policies. The age of a large amount of non-Europeans migrating to the United States is known as contemporary immigration, it hastened in the end of 1960s to the middle of 1970s after a prolonged interruption of constrained immigration. 1.6 million formerly unauthorized aliens and 1.1 million Special Agricultural Workers1 (SAW) were granted permanent resident status with a total of 17.1 million immigrants admitted in the United States between 1971 and 1995 under the provisions of Immigration Reform and Control Act of 1986( her eafter IRCA). Contemporary immigration was as high as it has been in the first quarter of the century, which has been 17.2 million between 1901 and 1925. This was the time immigration was at its peak. The annual admission trends in both the peak periods show a very different trend, despite the similarity in numbers in both the time periods. With a number of obvious ebbs and movements the figure of annual admission

Business Cannot Afford to Stand Still Essay Example | Topics and Well Written Essays - 1500 words

Business Cannot Afford to Stand Still - Essay Example The businesses around the world are witnessing changes in the demographic situations and thus are bound to modify their business marketing strategies around the changing character of the populations. Page (2010) contends that there exist a great variety of factors that influence the way the organizations operate. It is evident that factors like unemployment, old age, economic downturns have made the people change their buying patterns. Thus the businesses around the world need to adapt to such changes and prepare themselves to serve the people better.It is within the last two decades that the social and cultural perspectives have changed drastically. The perspectives relate to the aspects like concerns over environment and a healthy lifestyle. This led to changes in environment policies of the companies. For example, the plastic bags could not used as freely as earlier. This gave birth to the recyclable packing material in the form of bio degradable bags manufacturing (Page 2010).Pri or to creation of business plans, it becomes important to study the external environment of the forces. The investigation of the social, legal, economic and political environments exercise influence over the businesses. These environment scan is also important to know the competitors plans. The forces behind the changes are themselves continually monitored and thus are found to be in a state of change. The social factors are associated with behavioral patterns and thus change the character of the fashions and lifestyles.

Malcolm X (in the text, he calls himself Detroit Red) Essay

Malcolm X (in the text, he calls himself Detroit Red) - Essay Example This is the real situation for most hustlers. They would pass as executives or people high on the corporate lane. Beneath these lives they live, they are illiterate. Although he had little formal education, Malcolm X spent his time in prison trying to educate himself using the dictionary. Then with time, he was able to make simple logical grammatical sentences which came in handy when writing letters. His efforts also paid off because he started understanding books when he read them. Although the prison authorities were aware of the letters that Malcolm wrote, they did not say anything to him about them. He believes that during that time, the white man knew he was the devil. During the time, there was widespread knowledge that the white man was responsible in a way for the black man’s condition. Malcolm X was filled with the desire to use his writing skills to educate about Allah and Islam. His desire to learn more led to his dedicated study of the dictionary. From this he taught himself to read and write. This expressly shows how someone can achieve their desires with dedication and a little investment in time (Benson and Cosgrove,

Economic Geography Essay Example | Topics and Well Written Essays - 1000 words - 2

Economic Geography - Essay Example The most important factor, after taking into account the use of technology, is the availability of labor at reasonable cost. The main reason for outsourcing American businesses, including manufacturing, has been the relative lesser cost of production. This was due to the availability of labor in countries like China at a friction of American cost. Apart from this, available of quality services at the selected location is another factor, which manufacturers would like to consider. The other factors that go into making manufacturing location decisions include, business environment, easy access to raw material and components, overall quality of life at he selected location and marketability of the finished goods. Availability of labor This is related to the type of goods to be manufactured. For products, which require quantity output in limited time, the manufacturing becomes labor-intensive with high turnout, to achieve bigger sales volumes. In such cases, locations that can provide la bor at considerably lesser cost remain the favorite of any manufacturer. This was the case of China getting most of the world’s manufacturing business, about two decades ago. ... American manufacturers are finding it difficult to maintain their facilities, as the cost advantage is vanishing. This is truer for high turnout goods.(Hanink) The case of Foxconn manufacturing facility in China is an ideal example of the labor cost relation with the manufacturing location. China never wanted to display the living conditions of its citizens, particularly the factory workers. However, these conditions have been worse, if not inhumane. People had to huddle together for sleep in bunkers and dormitories. Wages like $400 per month were paid to a worker who would put around 50 hours a week on the plant job. People would go to market in factory uniform only. Foxconn recruited most of its interns and apprentices from the boys belonging to age group of 14-15 years, to reduce further the cost of labor.(Fallows) However, things are changing in China very rapidly. With the living conditions, as detailed above, reports of suicide attempts were frequent. That was the reason for Fo xconn to introduce†suicide nets† for prevention of such attempts. Things could not be stopped there. The factory owners had to increase wages three to four times during last three years. It has created serious problems for the manufacturers and exporters. Chinese goods have been selling throughout the world, due to their lower prices. That advantage is now vanishing. American manufacturers are feeling the cost pinch from such outsourced units. Labor is available at competitive cost in America now. Reverse shifting has begun.(Fallows) Technology plays an important role in availability of adequate services The manufacturing activities for new start-ups relate to an idea, which is converted into the marketable product. In older days, the original idea

Strategic marketing management (examination) Term Paper

Strategic marketing management (examination) - Term Paper Example The culture of an organization may prove so hard to change when change facilitators think of a unitary culture for an organization. In real world, no company operates as a uniform whole, but various units of a company may display different culture, which make subcultures of an entire organization. Changing organizational culture demands a deep understanding of the existing culture and clear knowledge about what culture the management intends to inculcate in the company to replace the old culture. Therefore, planning should always be done based on existing corporate culture because employees are already familiar with what is expected of them and know what values the company embrace. For example, Google gives its employees the freedom to explore new ideas and staff members have easy access to co-founders as well as executives. If the company wanted to implement a culture that takes away the autonomy of employees in the way they work and create a barrier to founders and executive access , it is most likely that employees will rebel against the proposed change. Penetration pricing: under this pricing strategy the company decides to set artificially low prices for its products in order to attract more customers and establish loyalty among existing customers, thus expanding market share. For example, Apple can decide to set prices for it Smartphone lower than its competitors such as Samsung in order to regain its market share. The approach was utilized by France Telecom as well as Sky TV to widen their market share. Skimming pricing: Using this strategy, a company can set high initial price for its product and then gradually lowers the price of the product to gain more market share. For example, Apple Company may have set high price for its Smartphone then later reduced the price amidst competition so that it can make it available to low market end and increase the company’s market share. Franchising is a business

Histories of Photography Essay Example | Topics and Well Written Essays - 750 words

Histories of Photography - Essay Example Therefore, using cameras, ethnographers during this period were able to capture all the aspects of a community’s culture, which were observable and manifest (Torresan Web). Therefore, the camera, and overall photography was considered a neutral way of the ethnographers’ collection of objective data. During most part of the 19th Century, photography was characterized by various challenges, as far as ethnography is concerned. For instance, low technological advancements in photography had rendered cameras to be heavy and expensive, and the film was considered a volatile tool. These and other factors resulted in some ethnographers arguing against use of photography in ethnography. However, in the 20th century, with increased technological advancements in photography, most of the technological problems experienced previously were resolved. This therefore, led to an increased usage level of photography in ethnography. For instance, ethnographers used photography as a tool fo r documentation. This would include recording videos of rituals, of which their details would be lost, if an ethnographer took notes only (Torresan Web). Through this, ethnographers are able to gain greater understanding of case studies. In the ethnographic studies in the 19th and 20th centuries, ethnographers held the ideological assumption that culture is manifested through symbols that are visible, and which are embedded in gestures, artifacts, rituals, ceremonies, and natural and constructed environments. The people in a community are considered as the actors in culture, which presents itself as a script. With this therefore, ethnographers believed that photography was an essential way of revealing the intangibles of social life, which include facial expressions, pauses in speech, body gestures, and tonal variations (Torresan Web). It was impossible to capture these using written ethnography; thus making photography to be core to ethnography. Part 2 From its time of invention, t here had been a great debate on whether to or not to consider photography as an art form. Different artists had varied views and arguments on whether photography was an art form or not. One of the most important early advocates of photography as an art form include Le Gray. This was a trained artist, who was highly influential in early photography. In 1852, Le Gray wrote, â€Å"The future of photography does not lie in the cheapness but in the quality of a picture. If a photograph is beautiful, complete, and durable, it acquires an intrinsic value before which its price disappears entirely. For my part, it is my wish that photography, rather than falling into the domain of industry or of commerce, might remain in that of art. That is its only true place, and I shall always seek to make it progress in that direction† (Drogoul Web). This therefore, shows Le Gray’s justification of photography as an art form. On the other hand, Henry Peach Robinson was one of the most pro minent photographers of the 19th century. Like Le Gray, Robinson felt that photography deserved to be respected as an art form. He therefore, was involved in different association of artists, which promoted photography as an art form. In addition, Robinson wrote various texts, in which he promoted photography as a form of art (Harry Ransom Center Web). Oscar Gustav Rejlander was another important artist, whom many

Thomas Keller Essay Example for Free

Thomas Keller Essay Who is Thomas Keller? Why is he so important to Culinary world? Thomas Keller is considered to be one of the top chef in culinary world today. An adventurous, hard-working, quick learner, manager, businessman and a cookbook writer. Many people support him and believe him as a greatest chef in the kitchen. At present he is working towards the opening Bouchon restaurant in Tokyo, Japan in 2013. Keller, a restaurateur, was born in the town of Pendleton in Oceanside, California in 1955. His father is a former marine drill sergeant who left his family when he was 5 years old. On his teens, Keller learned how to cook from his mother while working at the Palm Beach restaurant she managed. Keller started his profession as a dishwasher and quickly moving up to cook. When he was 22, a French Master Chef named, Ronald Henin, his mentor, showed the real task of being a chef, and nurturing people-making them happy. He described when you nurturing a people it brings him pleasure as a human being in every smile of a guest about his cooking. He also mention his brother as the earliest mentor, Josef Keller, who is the chef and the owner of the restaurant â€Å"Josef† in Las Vegas, who gave inspiration to cooking. With no professional training and culinary experience, he moved to France and served apprentices in Michelin-starred restaurant. By the early 1980’s he was working in New York City where he gained national recognition at La Reserve and Restaurant Raphael as chef de cuisine. After several years as a executive chef, Keller opened his first restaurant in 1994 at Yountville, California named â€Å"The French Laundry†. The old century building was built in 1900 and has 62 seat capacity with elegant interior and surrounding gardens. The food is mainly French with contemporary American influences and served two different nine course tasting menus. Later that year, he opened other restaurant Per Se and Bouchon Bakery in New York and Ad Hoc in California. Thomas Keller has several different lines of philosophies related to cuisine. He believes in what he calls â€Å"The law of diminishing returns.† He explains that during the first few bites, flavors kicked in before flavor saturation and palate fatigue sets in. He also talked about the flavor profiles or compositions of foods, each dish had so many components, and there were steps upon required to layer the flavor and texture. The French Laundry garden has a 3 acre land located across the street to supplies Keller’s restaurant in the area, the menu is composed of 100% organic vegetable and herbs. Another part of his philosophy is the contribution, he explained that it might take a young chef to train up to three months to increase the speed and figure out â€Å"who they are and how they’ll develop in the restaurant.†, once they know the style, their ideas and opinions are encouraged. He also wants a young chef with highly motivated, capability, great skill and ambition to his restaurant. And last, the constant evolution, Keller wants to give emotional ownership of his restaurant to the staff and have them embrace that restaurant as if it were part of their own. â€Å"Teamwork† is one of the reason why is Thomas Keller became a successful chef in this world. The dining team, the kitchen team, the restaurant team are part of this dynamic. Being close together as a team and work hard they can achieve a goal and helped build the reputation of the restaurant. Another part is creating kitchen organization, he explained that organization give a maximum productivity and high degree of responsibility to maintaining quality of food ensuring consistency. He insists that the secret to his success is not talent but hard work and an obsessive dedication to detail. Thomas Keller was awarded the best chef in California in 1996 and the Best Chef in America in 1997 by James Beard Foundation. As Ruth Reichl (1997) stated â€Å" The French Laundry, the most exciting restaurant in America.† On food critic of the â€Å"The New York Times.† In 2005, his New York Restaurant Per Se received three Michelin Stars. In 2003 and 2004, The French Laundry was awarded as a â€Å"Best Restaurant in the World† and received three Michelin stars. That made Keller the only American chef to hold two Michelin three-star ratings. I love this video because it was easy to understand how Thomas Keller became a famous from dishwasher to celebrity chef. The story of Thomas Keller video supplies a full course of culinary education and deserves a place in every cook’s kitchen. I also found interesting recipes online that I thought I’ve had a private cooking lesson from the chef. The most interesting part at this video when French Laundry restaurant serve two different nine-course tasting menu and none of which uses the same ingredient more than once. The video also shows how mainly use fresh quality ingredients from the garden, the style and technique of cooking, a course or dishes with its own unique style was probably the most artfully presented and well prepared which things should be appealing to the eyes as well as the palate. For me, a Thomas Keller video gives a world of information, discovery and an inspirational to all young chef or old chef to experience a new ideas, explore great minds and e xperience great art.

Neuroticism as a Predictor for Smoking

Neuroticism as a Predictor for Smoking Abstract To modern people, stress is a common obstacle that they face every day. Neurotic symptoms and smoking, which are the two typical symptoms of stress, might have a significant connection (Eysenck, 1965). In this research, we examined whether one’s neuroticism scale has significant relationship with one’s smoking behaviour. Furthermore, gender differences in both smoking habits and neuroticism scale have been analysed. A random sample of 64 female and male participants (Mage = 22.36 years) living in Selly Oak, Birmingham took part in this research. Statistical analyses from completed questionnaires demonstrated the relationship to be non-significant in neuroticism and smoking and gender differences in both smoking and neuroticism. To future research, neuroticism, a categorization of smokers by related features, might enable attempts at smoking cessation. Neuroticism as a Predictor of Cigarette Smoking  and Individual differences in Smoking: Gender To modern eyes, it may seem that their daily life is a fight against stress. Stress from work, school, relationship to social life, has been causing great influence on health of modern people negatively. Symptoms of stress not only include physical symptoms such as fatigue or insomnia, but also emotional and behavioural symptoms. Nervousness, a neurotic symptom, and smoking are the typical examples. Although stress is the main cause of all the diseases, symptoms themselves, neurotic symptoms and smoking, may have a significant association (Eysenck, 1965). By this time, numerous studies have been published related to this hypothesis with various results. Some studies examined that there was no evidence that the neurotic grade was related to the amount smoked (Waters, 1971), however, others stated that smoking behaviours are correlated with state anxiety and neuroticism (Herrà ¡n, 2000). In this paper, to replicate Water’s (1971) study towards smoking and neuroticism, we collected results which included standard questions on smoking behaviours, and also questions about their personality trait based on Eysenck Personality Questionnaire (EPQ) from random female and male samples. Furthermore, gender differences in both smoking habits and neuroticism scale have been analysed. Method Sample Description A random sample of 64 female and male participants (age range from 18 to 52, Mage = 22.36 years) living in Selly Oak, Birmingham took part in this research. Completed questionnaire included questions on their current smoking habits, personality traits, and gender; age for demographic. Assessment Smoking Habits In smoking habits questionnaire, after the instruction, specifying age and gender was followed by three options in current smoking behaviour. The three options were – A) I have smoked a Cigarette within the past week, B) I previously smoked cigarette, but not within the past 6 months, and C) I have never smoked a Cigarette. Personality Factor: Neuroticism Eysenck Personality Questionnaire (EPQ) was used in this study to assess the personality traits of the participant, with the result referred to as the Eysenck’s Personality Inventory (EPI) (1968). Statistical Analyses All analyses were performed using a Pearson Chi-square in order to identify whether there is an association between two categorical variables in each hypothesis. Results As their questionnaire results, participants were divided into three groups in their smoking status, two groups in gender, and three groups in neuroticism. First, participants who chose ‘Never smoked’ (n =27, 42.2%) option, had not smoked for their entire lifetime, participants who chose ‘Previously smoked’ (n=15, 23.4%) had not smoked within the past 6 months, and lastly participants who chose ‘Current smoking’ (n=22, 34.4%) were those who had smoked within the past week. Next, 34 female (Mage = 21 years) and 30 male (Mage = 23 years) participants were in each gender group. Third, in EPQ, we only coded twelve questions (number 1, 5, 9, 13, 17, 21, 25, 30, 34, 38, 42, 46 in Eysenck (1975)) which refer to neuroticism/stability scale out of total 48 yes/no questions. The neurotic grade (0 to 12) given in this paper is the sum of the affirmative replies to these questions. Three divided groups calculated by neurotic grades were ‘Low (0-4)’ (n=15, 23.4%), ‘Medium (5-8)’ (n=27, 42.2%), and ‘High (9-12)’ (n=22, 34.4%). Table 1. Smoking habits and neuroticism scale Neuroticism Scale n Smoking Status: % of n Never Previous Current Low (0-4) 15 37.0 26.7 4.5 Medium (5-8) 27 33.3 53.3 45.5 High (9-12) 22 29.6 20.0 50.0 Total 64 42.2 23.4 34.4 χ ² = .9188 (df =4), p = .057 Neuroticism as a Predictor of Cigarette Smoking Results of cigarette smoking behaviour, with neuroticism as the independent variable and the indicator variable (smoking habits) as dependent variable revealed that neuroticism was not significantly associated with whether the participants are never, previous, or current smoker as shown in Table 1. To be specific, according to Table 1, 37 % within smoking (Cigarette) behaviour, never smoker, of the participants showed ‘Low’ in neuroticism scale, whereas 53.3 % within smoking (Cigarette) behaviour, previous smoker, of the participants showed ‘Medium’ in neuroticism scale which had a slight difference towards the percentage within smoking (Cigarette) behaviour, current smoker, of the participants showed ‘High’(50 %), which if the former had a smaller percentage than the latter, smoking would have a direct proportional to neuroticism scale. Moreover, the results of the chi-square also showed no significant association between neuroticism scale and current smoking status (χ ² (4) = .9188, p = .057). Individual differences in Smoking: Gender Among the participants, more women were never smokers (15.6% men versus 26.6% women), whereas more men were current smokers (21.9% men versus 12.5% women). Gender differences among the previous smokers were small compared to other two groups (9.4% men versus 14.1% women). The differences were insignificant, showing that the association between gender and smoking habits is statistically non-significant (χ ² (2) = 3.816, p = .148) Gender differences in Neuroticism Although, more women scored ‘High’ on neuroticism scale than men (41.2% women versus 26.7% men; percentage within Gender), more men scored ‘Low’ and ‘Medium’ on neuroticism scale than women (26.7% men versus 20.6% women and 46.7% men versus 38.2% women; percentage within Gender). Neuroticism analysis by gender showed the relationship to be insignificant (χ ² (2) = 1.496, p = .473). Discussion In the current research, statistical analyses from completed questionnaires demonstrated the relationship to be non-significant in neuroticism and smoking and gender differences in both smoking and neuroticism. The present finding, that there is an insignificant correlation between the neurotic grade and one’s smoking behaviour, is in the same line with the conclusions of Water (1971), however, is in strife with the conclusions of Eastwood and Trevelyan (1971). Our results may have been affected by our lack of participants. The present data are based on a random 64 people on a voluntary basis of rather smaller numbers and with a narrow age range. Also, in our smoking questionnaire, there was a gap between the second option, previous smoker who had not smoke within the last 6 months, and the third option, current smoker, who had smoke within the past week. Participants who had smoke within the span of less than 6 months and more than the past week were included as previous smokers. However, the limitation toward non-delicate smoking habit questionnaire is minor because according to other studies, the options in smoking habits were more not sophisticated; non-smokers and smokers (Terra cciano, 2004). Result of neurotic grade and smoking habits had a minor difference to significant relationship; neuroticism scale seemed to vary in direct proportion to the participants’ current smoking status, therefore, various age range and sufficient number of participants are the factors that might have influenced the results to significant connection. To further research, neuroticism, a categorization of smokers by related features, might enable attempts at smoking cessation to be specific for each individual. The use of index of neuroticism might be value in assessing the effectiveness of different methods of preventing smoking and seems worth further investigation. To summarize, a standard questionnaires were completed by 64 individuals selected at random, asked about smoking habits and included questions from which a grade for neuroticism was obtained. The result demonstrated that, there is no evidence that the smokers are more neurotic than non-smokers, and there was no statistically significance between gender differences in both smoking habits and neuroticism scale. Reference Gorman, 1968 B. Gorman Social desirability factors and the Eysenck Personality Inventory Journal of Psychology, 69 (1968), pp. 75–83

Analysis of the US Healthcare System

Analysis of the US Healthcare System Cost, Efficiency, Choice and Equity in the United States Health Care System While excellent medical care is available in the United States, health care economics and the service delivery system present many challenges for the consumer and practitioner alike. This paper addresses four dimensions that are pivotal to the successes and failures of the system: cost, efficiency, choice and equity. The interplay of these dimensions across the canvas of health care options defines a system in flux, policymakers seeking a fair balance, and a nation in need of quality, affordable, accessible care. How do Americans pay for health care? The cost of health care in the U.S. is the highest in the world today. A higher percentage of national income, and more per capita, is spent on medical care by the United States than by any of the twenty-eight other country members of the Organization for Economic Cooperation and Development (OECD). The United States spent $4,178 per capita on health care in 1998, more than twice the OECD median of $1,783, and far more than its closest competitor, Switzerland ($2,794). U.S. health care spending as a percentage of gross domestic product (GDP), 13.6 percent in 1998, also exceeded the next most expensive health care systems, in Germany (10.6 percent) and Switzerland (10.4 percent) However, the U.S. government finances a smaller portion of health-care spending than does any OECD country except Korea (Friedman, 2001; Hilsenrath et al., 2004). Being without medical insurance is synonymous with a lack of access to medical care. In the absence of a coherent, all-encompassing national health policy, such as universal coverage, Americans, under the age of 65 and above the low-income mark, face the necessity of obtaining some sort of private health insurance. However, more than forty-two million Americans (15.5 percent) were not insured in 1999 (Bureau of Labor Education at the University of Maine, 2001). Most of the uninsured have no employer-provided health care options and are unable or unwilling to bear the cost for the few types of plans available to them. If ineligible for government assistance, the uninsured have little choice but to wait until their health concerns justify emergency room treatment, an extremely costly option for hospitals. In fact, these emergency facilities may turn patients away unless their conditions are deemed to be medical emergencies. Of those who are insured, some can afford to pay, while others are covered by their employers for at least a portion of the cost. Employer-provided health care coverage, once an expected benefit, is becoming less common in the contemporary American workplace. Also, over the years, the array of services covered has become more limited, while the cost of insurance has risen. Rather like a black hole, the insurance industry, and the medical establishment in general, appear to suck in more resources while emitting less output. What are the private plan options? Cost, efficiency, freedom of choice and equity vary across the assortment of private health care insurance alternatives. The following includes a brief description of each type of plan (derived, in part, from Levchuk et al., 2000), and thoughts on the balance of these dimensions across alternatives. The traditional fee-for-service plan, while still a key part of the Medicaid and Medicare vocabulary, is a rarity in todays managed care world. Under this type of plan, freedom of choice is high for patients and for the medical establishment. Patients with a fee-for-service indemnity or reimbursement plan can choose any physician or facility. Out-of-pocket costs apply until a deductible is satisfied. Each service performed is the unit for payment and treatment decisions are not limited. Efficiency of service providers is not so precious a goal given these contingencies. While fee-for-service remains an option, the need for increased cost control and accountability drove reform that took the shape of managed care. Managed care organizations vary in cost, efficiency and freedom of choice across an alphabet soup of plan types. To the degree that equitable access to services can be seen as a function of cost for those services, equity also varies across plan types. However, some characteristics are shared among all these plans. In service of cost-effectiveness, these organizations manage the financing of care delivered to members. For example, buying in bulk achieves lower prices for services from hospitals and practitioners. Efficiency and cost control are enhanced by limiting choice; members are limited to a list of approved physicians, and doctors are restricted to formularies and sanctioned procedures. Another cost-saving measure is the prevalent requirement for referral from a primary physician in order to consult a specialist. This restriction may undermine efficient service delivery, as well as access to services. Choosing a pricier plan can mitigate the restrictions on freedom of choice; however, this poses the broader issues of equity and access. Of course, the member realizes efficiency benefits in that the plan manages the delivery system: the where, what and by whom of health care. Perhaps the best example of this is the one-stop shop of the HMO. Health Maintenance Organization (HMO) staff-model. Everything the member ordinarily needs is efficiently contained in a single location; caregivers and customer service, pharmacy and labs. The HMO premium is paid in advance by the plan member or the members employer. The size of the premium is independent of the individual plan members pattern of service utilization. Therefore, the actual cost to the plan for services delivered to members at the high end of the utilization distribution serves to raise the premium for all members. The premium covers all in-plan services, with the exception of deductibles and co-payments. This is an efficient fiscal arrangement in that it saves administrative costs for the billing process and the members time in responding to requests for payment. The inclusion of preventive care is a cost-saving strategy, as is the requirement for a referral process. Requiring referrals may benefit the patient by screening out unnecessary and, thus, inefficient procedures. If misused, however, this requirement becomes a barrier to obtaining necessary care. The potential for misuse is heightened by the practice of casting administrators, rather than caregivers, as architects of the guidelines for appropriate referrals. Health Maintenance Organization (HMO) independent practice association (IPA) model. With this type of HMO, the member sacrifices the efficiency of convenience for a greater freedom of choice; the plan sacrifices a modicum of control but gains facility-maintenance cost savings. IPAs are comprised of primary care doctors and specialists who see plan members in their own offices. Each doctor may be a participant in several IPAs, thus defraying the added facility-maintenance cost. Equity can be a greater issue with IPAs than staff-model HMOs; physical/geographic access to care is more variable with the IPA model. Preferred provider organizations (PPOs) are structured to offer members more freedom of choice in selecting a health care provider than do HMOs. In order to ensure coverage of cost, however, the member is constrained to choose from a defined network of physicians and treatment facilities. Typically, premiums are more costly for this type of plan. Providers within the network have contractual relationships with the PPO plan, agreeing to treat plan members at a discounted rate. The plan is responsible for recruiting/selecting an equitable mix of providers across locations, as well as for referral coordination and treatment plan review. Providers, who serve at the pleasure of the plan, must operate efficiently or operate at a loss to remain participants in a network. The final two types of private insurance plans to be discussed are hybrids of those previously described. Point of service (POS) plans offer greater freedom of choice than other managed care plans, and, therefore, command a higher price. Each point at which a health care service is desired presents an opportunity for the member to choose any service professional at any location to provide that service. Typically, resources characteristic of HMOs, PPOs and traditional fee-for-service plans are available to the POS plan member. The contingencies that condition this freedom are based on out-of-pocket cost to the member and are part of the agreement for membership in the plan. A different level of cost may be associated with each type of service; e.g., a visit with a physician outside the HMO and PPO entails higher out-of-pocket expense. In many POS plans, choice also is conditioned by the requirement for a primary care physician referral. Flexibility is high here. A member who prefers the efficient containment of an HMO for a routine physical and lab work may make this choice. The same member, experiencing headaches, may seek service from a clinic specializing in migraines, knowing that a portion of the cost will be absorbed by the plan. However, the cost for this degree of flexibility brings equity into question. Managed indemnity plans combine the freedom of choice and cost base characteristics of fee-for-service with certain cost-control measures inherent in managed care plans. Members may visit any physician they chose. Typically, members must seek prior approval from the plan administration before certain outpatient procedures and inpatient stays are warranted as covered by the plan. Often, preventive health care is not covered by managed indemnity plans, an arguably inefficient decision. Freedom of choice is quite pricey with this type of plan. Reimbursement for services is a relatively cumbersome process. The physician or member is required to submit fee-for-service claim forms to the plan. After the members deductible is satisfied, most plans pay a percentage of what they consider the Usual and Customary charge for covered services. The plan generally pays eighty percent of this amount, leaving twenty percent, known as coinsurance, for the member to pay out-of-pocket. If the chosen provider charges more than the Usual and Customary rates, the member is responsible for both the coinsurance and the difference. As with many of the plans discussed, the expense associated with a managed indemnity plan bars many Americans from taking advantage of the benefits offered. These are the privately-insured health care plans available, in varying degrees, to the American people. Each has strengths and weaknesses, evident in the relative balance of cost, choice, efficiency and equity across plan types. What publicly-funded options exist and who is eligible? Medicare is the federally funded health insurance program for Americans age sixty-five and older. Younger citizens with qualifying disabilities also are covered under this program. Medicare falls within the Social Security administration, the federal program charged with providing financial assistance to older Americans, the unemployed and the disabled. The program is funded by taxing employers and employees nationwide. Sounds like a good and straightforward idea; few would contest that the program has a great to offer and that these benefits are sorely needed. Medicare is really two health care plans: Medicare Part A insurance applies to hospital costs. Stays at other 24-facilities, including nursing facilities, psychiatric hospitals and hospice care, also are covered. Part A is free of cost to any Medicare recipient. Medicare Part B covers many outpatient procedures, doctor visits, lab test, some home health care and in-home use of medical equipment. Medicare-qualified individuals are enrolled automatically in Part B, and the monthly fee is deducted from the persons Social Security payments. However, a good deal of the medical care one is likely to require is not covered by this program. For example, Medicare does not cover nursing home care or long-term care in the home. Prescription drugs and routine physicals are not covered. Medicare also requires co-payments and deductibles. For seniors and others on a fixed and limited income, these charges add up over time and can serve as a real disincentive to appropriately seeking health care. Choice also is limited by the fact that many doctors do not accept Medicare and, of those that do, some do not accept the Medicare assigned amount as payment in full for all services. This means more out-of-pocket expense for health care services. Fewer doctors opening their doors to Medicare beneficiaries is an access problem, compounded by other barriers, such as the need for transportation and specialized services seniors may require to facilitate health care use. As a result, seniors able to afford the extra cost (an equity issue) are enrolling in private insurance plans structured to supplement Medicare benefits. Medigap offers one of the most widely available sets of plans for this purpose. Plans A-J, the ten plans available in most states, vary widely in coverage and in cost. Such plans help defray the expense of Medicare co-payments and prescription drugs, for example, but they do not apply to any service that is not covered by Medicare. Given that an acid-test for Medicare coverage is medical necessity, seniors and other Medicare beneficiaries still are in the cold with respect to such services as preventive care and regular check-ups. A fairly recent Medicare reform is the introduction of the HMO as a potential care provider. Traditionally, Medicare operates on a fee-for-service basis; patients are billed for each service received. Increasingly, states have begun to offer an HMO alternative to Medicare recipients. This type of public-private partnership for health care service delivery has many proponents and an equal number of critics. As discussed, HMO services can be more efficient, convenient and comprehensive than a fee-for-service plan. HMOs can compliment Medicare services by offering lower costs, much less paperwork, and a primary care doctor for coordination of care. However, without paying more, the patient is restricted to care providers within the organization. This can be especially troubling for seniors who may bring a long and complex relationship with a particular physician. Also, under HMO guidelines, the patient cannot seek service from a specialist without referral. The HMO model is particularly unsuitable for seniors who spend part of the year is a different location; services simply may be unavailable. The most terrifying health care issue in the Medicare arena is its potential bankruptcy. According to U.S. Census projections, the Medicare-eligible population will burgeon between the years 2010 and 2030 (when the baby boom generation reaches age 65). By 2030, there will be about 71.5 million older persons, more than twice the number in 2000. People age sixty-five and older made up12.4% of the population in 2000; that percentage is expected to increase to 20% by 2030. The number of people eighty-five and older is projected to increase from 4.6 million in 2002 to 9.6 million in 2030. To compound health care equity issues, minority populations are projected to represent 26.4% of the elderly population in 2030, up from 17.2% in 2002 (AoA, 2003). There are many proposals on the table with the aim of saving the Medicare program. This is one example of a political hot potato that deflects policymakers from the task of solving the overall health care dilemma in America. In President George Bushs proposal to strengthen and modernize Medicare, public-private partnership is at the forefront. He contends that, through private health plans competing for the business of Medicare beneficiaries, better coverage at lower prices can be achieved; also, government gets out of the medical price-setting business. He also foresees government leaving the field of crafting coverage guidelines because competition, again, will yield more flexible and innovative plans. What about a safety net for Americans who need health care but lack the resources to obtain it? Medicaid is that safety net for Americans. This is the joint state-federal program for financing health care delivered to people with sufficiently low incomes, or to the chronically ill and disabled. As with Medicare, services traditionally are reimbursed on a fee-for-service basis. Each state commits funding for the program and the Federal government provides a percentage match for these state funds. The rules by which states must run their Medicaid programs are dictated by the Federal government; however, many aspects of the program structure are at the discretion of each state. Therefore, the shape of the program varies from one state to another. Medicaid is subject to the same problems as Medicare, problems of access, cost, choice, equity and efficiency. Low-income recipients have difficulty locating providers, partly because low-income neighborhoods typically are underserved, but also because many doctors will not accept Medicaid patients. Often, the limited amount Medicaid pays for services is below market rates. Therefore, as previously mentioned, Medicaid recipients are forced to rely on emergency rooms for primary health care services. Another similarity to the Medicare program is the move by states to adopt a managed care model for Medicaid recipients. Managed care may correct some of the problems faced by Medicaid beneficiaries. If enrollment is achieved, then locating a provider is unnecessary. Access to preventive care may increase, and the range of coverage may improve. In the last part of the twentieth century, Medicaid expansions led some to see this as the path to universal coverage; yet it remains a means-tested program, subject to threats of political retrenchment (Grogan Patashnik, 2003). It should be noted that, without the Medicaid program, the majority of the current 51 million beneficiaries would be without coverage, because, according to the criteria that private insurers currently use to determine whom they will insure, most of these people need not apply (Iglehart, 2003, 2418). Conclusion Iglehart (1999) points to the painful conclusion that, for whatever reasons, the United States is alone among industrialized nations in its failure to develop a health care policy that offers basic benefits to all Americans, regardless of their ability to pay. The idea of a single-payer, publicly-funded plan has vocal and prestigious advocates (see Friedman, 2001); equally vocal and powerful advocates speak for the insurance industry and the medical establishment. The great American nationwide debate regarding how to make health care more widely available to all and still to control cost continues. Questions such as how best how best to measure efficiency in the provision of services, how to structure efficient care, and how efficiency compares with other health care values (e.g., equity and choice), continue as a focus of the debate. The World Health Organization (WHO) defined a fair health care system as one that provides a fair distribution of medical responsiveness across population groups and of financial support, so that everyone is protected equally from the financial risk of illness (Bureau of Labor Education at the University of Maine, 2001). For the United States, the overarching balance of cost, choice, efficiency and equity remains elusive. References Administration on Aging (AoA), U.S. Department of Health and Human Services (2003). A Profile of Older Americans: 2003. Washington, D.C Bureau of Labor Education at the University of Maine, (2001). The U.S. health care system: Best in the world, or just the most expensive? Issues Brief, Summer, pp. 1-8. Friedman, M. (2001). How to cure health care. The Public Interest, 142, pp. 3-30. Grogan, C. Patashnik, E. (2003). Between welfare medicine and mainstream entitlement: Medicaid at the political crossroads. Journal of Health Politics, Policy Law, 28(5), pp. 821-858. Hilsenrath, P., Hill, J., Levey, S. (2004). Private finance and sustainable growth of national health expenditures. Journal of Health Care Finance, 30(4), pp. 14-20. Iglehart, J.K. (1999). The American health care system: Medicaid. The New England Journal of Medicine, 340(5), pp. 403-408. Iglehart, J.K. (2003). The dilemma of Medicaid. The New England Journal of Medicine, 348(21), pp. 2140-2148. Levchuk, C.M., Kosek, J.K., Drohan, M. (2000). Health care systems, in Healthy Living, ed. A. McNeill, Farmington Hills, Mich.: UXL, Vol. 2.

Income Distribution and Economic Growth in LDCs Essay -- essays paper

Income Distribution and Economic Growth in LDC's INTRODUCTION In recent years, one of the major concerns of economic development is the study of poverty, the income distribution and growth in the less developed countries (LDC’s) or Third World countries. Economists from all over the world have been doing researches and studies on how to induce a growth in those underdeveloped countries. However, countries differentiate in historical backgrounds, cultural believes and natural resources. As a result, the government would implement different strategies to attain a much fairer distribution of income among the society. The relationship between the income distribution and growth in the LDC’s is a significant factor that would affect government policies. Also, the study of the strategies, promoted from the government, would show us how the government can enable economic growth with a more equal income distribution. INCOME DISTRIBUTION AND ECONOMIC GROWTH For years, most of the more developed countries have been helping the less developed countries. Most of them believed that the only solution to the problem of poverty is to make the GDP grow. However, some other questions may arise as to who would make it grow, and should they be the few or the many. If it is the many who need to make it grow, then the GDP may be shared more equally. On the other hand, in order to make the GDP rise, we need to make decisions in production. The Production Possibility curve can show us the maximum amounts an economy can produce, but it doesn’t tell us which decision would be made. A country makes the decision on what to produce is accordance to the income distribution. The most ideal case is to have perfect income equality (Gini Coefficient equal to 0) in one society. However, studies tell us that this can never be reached. In most of the more developed countries, a Gini Coefficient (G.C.) of 0.2 to 0.35 is considered to be in relative equa lity. One may wonder what is the G.C. in the less developed countries? The answer is assumed to be a number in the higher rank. In fact, in most LCD’s, the G.C. is about 0.5 to 0.7 or even higher. This shows us that the problem of income inequality is very seriously in those countries. â€Å"We were taught to take care of our GNP as this will take care of poverty. Let us reverse this and take care of poverty as this will take care of po... ...ad to many positive notes such as increase in productions, employments, and indirectly increase the local investments. Increase in productions, employments and capitals in the country thus enable a growth in the economy and therefore, the government should make careful decisions keeping in mind that of the impact these factors have on the societies. Bibliography: Judith Randel and Tony German., The Reality of Aid 1998/1999, UK:Earthscan Publications Ltd., 1998 Adelman and Morris: Economic Growth & Social Equity in Developing Countries, California: Stanford University Press.,1973 David Dembo, Clarence Dias, Ward Morehouse, James Paul: The International context of Rural Poverty in the Third World, Newyouk: Council on International and Public Affairs, Inc., 1986 Jacques Lecaillon, Felix Paukert, Christian Morrisson, Dimitri Germidis. Income Distribution and economic development,French:International Labour Organisation., 1984 Gary S. Fields. Poverty, Inequality, and Development, New York: Cambridge University Press.,1980 Michael P. Todaro. Economic Development, New York: Longman.,1994 Simon Kuznets. Population Capital & Growth, New York: W.W. Norton & Company. Inc.,1973

Band :: essays research papers

MILES DAVIS This is my report on Miles Davis that I have written for band class. When I first started I didn't even have a clue who Miles Davis was. But for the past week I have been working on this report I have began to realize the amazing life that this famous musician has lived. So I hope you learn as much as I did on this wonderful trumpeter. Even in the beginning he was already miles ahead. It's very evident that Miles knew and lived by that old axiom if it's named, then it's outmoded. Miles Dewey Davis was born May 25, 1926 in Alton, Illinois and grew up in East St. Louis. Miles collected records and for his 13th birthday was given his first trumpet. By age 16, Miles was playing professionally and received his first real taste of what playing jazz was like when Billy Eckstine's band was traveling through and needed to replace a sick horn player. At that time, the band employed Diz and Bird and for two weeks Miles soaked it up! Undoubtedly, the fire had been ignited. After high school, Miles was off to study music and enrolled in Juilliard in September 1944. Practicing his ass off every day and feeding his mind every night Miles' sound was taking shape. As a sideman, Miles recorded his first recording in New York with singer "Rubberleggs" Williams and later recorded "Now,s The Time" & "Ko-Ko" in Parker's quintet. Miles Davis was known to the general public primarily as a trumpet player. However, in the world of music he had a great deal of influence not only as a innovative bandleader but also as a composer. His music and style was important in the development of improvisational techniques incorporating modes rather than standard chord changes. Miles experiments with modal playing reached its apotheosis in 1959 with his recording of Kind Of Blue. Brought up in the Bebop tradition and taught under the auspice of Bird and others, Miles was now ready to lead. After a few solo records, Miles transformed jazz into it's next phase with his BIRTH OF THE COOL sessions, which were recorded 1949-50. These sessions took Bebop, with it's fast running styled chords, which changed on every beat, to a more modal concept and chords that changed every other measure, like in the tune "Dig". As a experiment, Miles formed a nine piece band, with Mulligan, Evans and Lewis as arrangers and incorporating Gunther Schuller on French Horn.

All Quiet on the Western Front :: essays papers

All Quiet on the Western Front Mental abuse is sometimes overlooked, because of the rough physical abuse, but soldiers see a good side of both during wars. Maria Remarque shows the mental part of abuse on the book All Quiet on the Western Front. The narrator discusses all the hard times that went on during World War I, all through the book. Paul Baumer, the narrator, explains it when he and his friends enter the German army, very deeply although he is only eighteen. Baumer tells a story about fighting for their own sanity as well as their country. As the war begun, he and his friends got an real look at what the war was truly about. This book shows the conflict coming during the actual war, the boys use their spirits to try to overcome it. But the mind against reality that is described in the books, gives them a reality check on how life really is. During the beginning of the book, Remarque explains the boy's job, relating it to how hard it is to be in the war. Their was always something, not getting much sle ep, relieving the front line, and they also didn't have much to eat. What was going to happen, is described good by the way that the author talked about the life of the soldiers, but the boys failed to realize reality. Thinking that the war was just an ideal character. Convincing the reader to believe the boys didn't know the risk they were taking by being in this war. They way the boys viewed it, shows that, true their are some hard times in wars, but their minds are young and they thought it was just another thing to talk about. When they should have been taking things more serious, but thinking about the good parts helped them to keep a hold on their sanity. "They ought to have been mediators and guides to the world of maturity, the world of work, of duty, of culture, of progress to the future", was the beliefs of the boys after their friend Behn dies. Their generation thought that the authorities were going to look after, and take care of them, the authorities were thought of real highly by them. Until their friend passed away, then everything changed. "We had to realize that our generation was more to be trusted than theirs", this is where they came to reality that, everybody was taking c are of their selves, and didn't want anything to do with other peoples problems.

Succubus on Top CHAPTER 14

I wasn't prepared for Dana to answer Bastien's door the next day. Oh my God, I thought. He finally slept with her. The truth turned out to be far less exciting. Bastien – as Mitch – was covered up to his elbows in flour, his hands busily kneading a medium-sized lump of dough. â€Å"Hey Tabby Cat,† he said upon seeing me and my startled expression. â€Å"Dana's teaching me to bake bread.† â€Å"Wow,† I said. Really, there was no other way to respond to a statement like that. I had personally seen Bastien make bread in far more primitive conditions, but he apparently believed the old teacher-student routine was going to pave the way to Dana's bed for him now. It did have its merits, of course. Human nature liked showing superiority in areas of expertise, and a teaching relationship provided lots of alone time together. I suspected that even with that tactic, Dana might still be out of reach, but hey, maybe it was worth a shot. The fact that she actually made time for this struck me as odd. I figured she'd be too busy bombing abortion clinics and handing out school uniforms. Speaking of alone time, I worried that I'd blundered into some meaningful opportunity for the incubus. I met his eyes. â€Å"I can come back later if it's a bad time,† I told him. â€Å"No, no. Dana's got to go to a meeting soon. You can keep me company once this baby's in the oven.† His tone was genuine. He'd probably already exhausted efforts to get her to stay. Uneasy in her presence, I sat on one of the stools by the counter and sipped the white-chocolate mocha I'd picked up on my way over. Dana sat down beside me. I resisted the urge to move away. Glancing at his kitchen table, I saw stacks of CPFV pamphlets and brochures. â€Å"Why the interest in cooking?† I asked blandly when no one said anything. â€Å"A bachelor can't live on fast food and frozen dinners forever, huh?† He turned up the dial on his smile. â€Å"And hey, I'm always open to new experiences. Next time she's going to teach me to make creme brulee.† I grunted. â€Å"You learn to makecreme brulee, and I might have to move in.† Dana turned to me, elegantly crossing her legs, showing that oh-so-wholesome slip obtained during the infamous shopping trip. I'd given up on slips a while ago. They just delayed the main event. â€Å"I could show you too.† Hell no. I'd gotten roped into yard work by pursuing a similar vein of conversation with Jody. No more domestic vices for me. Besides, I knew Bastien wouldn't welcome my presence. â€Å"Thanks, but I'll just leave it to Mitch. He's the brilliant one in this family anyway.† Bastien gave the bread a final pat. â€Å"Okay, now what?† â€Å"Now we put it in the pan.† She walked over to show him. As she did, he leaned in extra close, supposedly to get a better look. He even reached out his hand to brush hers, following her motions as they transferred the bread. Perhaps it would have been polite to look away, but there was nothing overtly romantic going on, and besides, I felt a professional interest in the matter. Histechniquewas good, I had to admit. Very subtle. Nothing that could be misconstrued as more than a polite accident. Yet, I saw Dana – just as subtly – stiffen and step away once the bread was in its pan. â€Å"Now you just let it rise,† she said, in a somewhat cooler tone. â€Å"Then it goes in the oven.† Interesting. She hadn't liked Bastien's proximity. That didn't bode well for him. I didn't think he noticed, however. I would have expected her to leave, but she sat down next to me again. I could never think of anything interesting to say around her; she unnerved me too much. So I let the two of them talk, answering only when spoken to and otherwise letting Bastien run the show. He positively glowed. Dana tried to draw me in a number of times, again asking me things about my life I really didn't want to answer. When she finally rose to go, she commented, â€Å"I'm off to a board meeting to plan our upcoming rally against gay marriage. You two should join us when it happens.† â€Å"Absolutely,† said Bastien, who probably would have agreed to an anti-incubus rally at this point. She glanced over at me. My tongue suddenly felt thick, words again eluding me. â€Å"Are you for gay marriage?† she asked with surprise. â€Å"I thought when we talked about this at the mall, you had implied you were more in favor of helping them see the error of their ways.† Christ. Had we discussed this on the mall trip? I couldn't remember. The only thing I recalled clearly was the lingerie debacle. I wanted to argue right then that I didn't think homosexuality was a â€Å"choice† for all people, nor did I believe there should be laws about who people loved. Fortunately, my control switch was fully operational. That, combined with Bastien's heavy gaze, made me redirect my answer and evade the question. â€Å"I'd love to go to the rally,† I said flatly. â€Å"It'll depend on my schedule.† She smiled thinly, made a few parting remarks, and then left. I exhaled. â€Å"Sorry about that, Bas. I nearly choked up on you.† â€Å"Not a problem. You recovered. Besides, I think things are turning around. I thought of it the last time she and Jody were over. This cooking thing is going to be what does it.† He peered into the oven at his now-baking bread before sitting at the kitchen table happily. â€Å"Can't you see it? We'll be like, I don't know, baking a cake together, and I'll say, ‘Why Dana, you have chocolate frosting on your cheek.' Then she'll say, ‘Will you get it off for me?' Then I will, only I'll lick it off – â€Å" â€Å"Okay, just stop now, please. I get the picture. I really don't want to hear about you two rolling around in cake batter.† â€Å"You'll have to once it's on the evening news.† I smiled, relieved to see him so cheered up after our last encounter. I couldn't bring myself to tell him I didn't think the cooking lessons were making Dana quite as hot and heavy as he would have liked. If we were going to save Bastien from demonic wrath, I believed we needed a better understanding of what – if anything – turned that woman on. And I had the distasteful feeling that I would be a better agent for that particular piece of reconnaissance than he would be. One more thing to add to my list. â€Å"So what's new with you?† â€Å"Oh, the usual. Another awkward physical encounter with Seth. Not nearly as big a deal as the last one, but still.† Bastien shrugged. â€Å"Alas for mortal weakness.† Dana left my mind as my own personal relations came to the forefront. â€Å"That's the thing. Everyone's been going on and on about how he wouldn't be able to handle our relationship, but it's not his weakness that's the problem. It's me. I'm the faulty piece here. Seth's done exactly what he's supposed to. He handles every horrible thing I tell him about myself, and he never does anything to cross the sexual line. His one moment of weakness was when I initiated things. He's perfect.† â€Å"Nobody's perfect, Fleur .If there's anything I feel certain of in this world, it's that. Even the angels themselves are imperfect.† I thought about Carter's chain-smoking and penchant for hard liquor. â€Å"That's for damned sure. But Seth comes pretty close. At least as mortals go. Whereas me†¦I don't know. I feel so useless in our relationship.† He stood up and drew me to him. â€Å"What is this, your day to feel melodramatic and depressed? Look. No way are you useless – not if you've been with him this long. He's in it for more than sex. He's in it for you. For that delightful wit and charm that manages to cheer even grumpy bastards like me up. What I can't figure out is what the hell you're getting out of it.† â€Å"Plenty,† I said, thinking of Seth's humor and intelligence, his serious and steady nature. â€Å"And I suppose he's happy with what he's got, but he must still, you know, feel unfulfilled. He's a man, right? I see him looking at me sometimes, and I know what he's thinking†¦what he wants.† I thought about my toe-teasing. â€Å"I don't think I really make it easy on him either. I flirt without thinking about it. I wish I could give him, I don't know, something. Something nonlethal to reward his amazing celibate strength – and overall amazingness with everything that's happened so far. â€Å" â€Å"Nonlethal's going to be hard for you. You're the ultimate look-don't-touch girl.† My slumping head shot up. â€Å"That's it.† â€Å"What's it?† â€Å"Looking without touching. You're going to help me.† I felt my natural optimism and vigor seizing me as I flashed the incubus a saucy grin. â€Å"You're going to be my photographer.† His eyebrows rose, but I think he already knew where I was going with this. â€Å"And pray tell, what will I be photographing, my dear?† â€Å"Me. In a bevy of alluring poses and skimpy underwear. Or nothing at all. We'll do a whole spread.† His smile twitched at the word spread. â€Å"And you think this will help him? All it'll do is drive him into the bathroom alone for ten hours.† â€Å"Hey, he can do whatever he wants with them, but it's a great idea. It'll be a treat. A safe way of having me without having me.† I poked the incubus in the arm. â€Å"You'll help, won't you? You're the only person I trust to take these.† â€Å"Of course I'll help you. Why'd you even ask?† I sighed happily, like a great load had been taken off of me. â€Å"Of course, even if this is good for Seth, it doesn't solve the problem of me being a weak-willed strumpet. I'll still be thinking about him all the time. Still wondering what it'd be like to touch – really touch – him. Still breaking down with him in moments of weakness.† I sighed again, this time with frustration. â€Å"There's no helping me, I guess. Pictures of him won't do it.† â€Å"Hey,† said Bastien, touching my chin. â€Å"Smile again. You'll figure out something. And if not, I promise you I will. The brother you never had, remember? We're here for each other, n,est-ce pas ?† I smiled and leaned my head against his chest. â€Å"Oui.† We stayed like that for a few pleasant minutes until I remembered far less sentimental issues. I sat up. â€Å"Oh, hey, you have got to check something out.† I picked up my purse and pulled out the bag of crystals Alec had given me. Bastien recoiled when I held them out to him. â€Å"What the hell are those?† â€Å"That's the million-dollar question. These are what's causing my friend at the bookstore to act so weird.† Regaining his composure, he leaned in to look closer but wouldn't touch the bag. â€Å"They're strange,† he said slowly. â€Å"They give off something†¦Ã¢â‚¬  â€Å"Like an immortal signature,† I agreed. â€Å"But I've never felt an inanimate object that did this. It's not the same as an enchantment.† â€Å"It doesn't feel bad exactly†¦just not right.† â€Å"I asked Seth about it. Mortals don't feel anything, only us. Ever come across anything like this?† â€Å"No, but then I'm the novice next to you, right?† I slid the crystals back into my purse, to the relief of both of us, and then explained what Alec had said about mixing them in liquid. â€Å"Curiouser and curiouser,† mused Bastien. â€Å"Not like any drug I know, but it's not giving off any legitimate potion vibes either. If you want to know what this is, Fleur ,you're going to have to break out the big guns.† I knew he was right. We hung out together a while longer, moving on to less weird subjects. The bread smelled so good cooking that there was no way I could leave until I'd tried a piece. Upon tasting it, I decided that whatever her other faults, Dana knew what she was doing with food. I ended up getting away with a good half loaf of the bread and then drove back downtown to find the â€Å"big guns.† I got a lucky break, and Jerome actually answered his cell phone and gave me his location. Even if he hadn't, it would have been on my list of places to try. The Cellar was an old, dark pub in Pioneer Square, Seattle's historic district. You had to take a flight of stairs down to get to the Cellar, and I always had the feeling the place wouldn't survive the Northwest's next big earthquake. The Cellar was one of Jerome and Carter's favorite haunts. I found them both there in their usual corner. The place was dark, as always, and was starting to pick up a little with happy-hour traffic. Angel and demon watched me enter with their typically amused expressions, both having sensed me before I cleared the door. Jerome always gave the impression over the phone that I was taking up his time, but neither seemed particularly busy now. I ordered a gimlet at the bar, smiling at the two guys who made conversation while I waited, and then moved on to join the dynamic duo. â€Å"A working lunch?† I asked, inclining my head at the empty shot glasses in front of them. The two practically sat side by side, so the only other chair was across from them, like I was at an interview. Carter picked up one of the empty glasses and offered me a mock toast. I clinked my glass with his. â€Å"Don't question the divine workings of the universe, Daughter of Lilith. â€Å" â€Å"The Lord's work is never done,† added Jerome solemnly. They both seemed a little loopy, but I wasn't fooled. Higher immortals like angels and demons could control their levels of intoxication. The other lesser immortals and I had said a number of stupid things in front of them when we thought either Jerome or Carter had been wasted. Their eyes held a shrewd scrutiny even now that told me they were both curious about why I'd sought out my supervisor in the middle of the day. â€Å"Been to see the incubus?† Jerome asked a moment later. I nodded. â€Å"He thinks he's making progress.† â€Å"Thinks?† asked the demon, raising one eyebrow. I wondered if John Cusack could actually do that. â€Å"Is there a doubt?† â€Å"I didn't say that.† â€Å"But you also didn't say that he is making progress.† â€Å"A slip of the tongue. I misspoke.† â€Å"You don't misspeak often, Georgie. And I've come to actually believe you do know something about seduction after all. And maybe even human nature.† â€Å"Something?† Carter laughed at my incredulous tone. â€Å"So,† continued Jerome, â€Å"in your expert opinion, is your friend going to be able to do this or not?† I was about to say â€Å"of course,† but knew Carter would recognize the lie. Hell, even Jerome probably would. â€Å"I don't know. She's hard to read. Very strange woman.† I pursed my lips, thinking. â€Å"If anyone is capable of seducing her, though, it'll be him. With my help.† I hesitated before adding, â€Å"You know about the Barton thing, don't you?† â€Å"Of course. Very foolish on Bastien's part.† â€Å"I guess.† I didn't want to slam one of my best friends in this company. â€Å"But it's not like our side is really known for impulse control. And it seems kind of stupid for Barton to get so worked up over a woman who sleeps around all the time anyway. What's one more person, immortal or not?† â€Å"Because the immortal meant something,† said Carter seriously. â€Å"You of all people should recognize the nuances here. What would Seth think if you slept with me?† â€Å"Are you offering?† I turned to Jerome, feigning excitement. â€Å"I get to retire if I bag an angel, right? Full pension and everything?† â€Å"Depends on the angel,† yawned Jerome. Carter kept his complacent smile, unfazed by jokes about his celibacy or immortal standing. â€Å"You know what I mean. There's a difference between business and choice.† I nodded. I did know what he meant, and he was right – being with Seth made me especially cognizant of the subtleties. â€Å"You know, I didn't come here to discuss this,† I told them. Both had the tendency to steer me off topic into subjects I didn't want to explore. â€Å"Well, do enlighten us then,† said the archdemon indulgently. â€Å"I'm dying to know what would draw you away from suburban conspiracy and mortal intrigue in the middle of the day.† â€Å"Actually, it involves mortal intrigue.† I gave them a debriefing on the Doug situation. Jerome maintained his perpetual look of disinterest. Carter almost did, but snide or not, he was still an angel, and I saw compassion flicker in his eyes as I spoke. He couldn't help it. â€Å"So, I finally managed to get Alec to give me the stuff, and now I need to know what it is. You two seemed like my best shots at identification. â€Å" Jerome's disinterest turned to astonishment. â€Å"This is what we've been reduced to? Drug identification? Do we look like the DEA?† Carter stretched lazily. â€Å"Remember the good old days when succubi used to want our help defending them from nephilim and other lethal creatures? This is a sign of the times, I tell you. â€Å" I let them have a good laugh at my expense, forcing myself to stay calm and not say something that would get me into trouble. â€Å"Are you guys done?† I asked a minute later. â€Å"Because I'd really like to get moving on this.† â€Å"Are you going to share some of it with us if we can tell you what it is?† asked Jerome. Rolling my eyes, I reached into my purse. With a flourish, I tossed the little bag out onto the table so it slid across the surface and came to rest just in front of both of them. Their smiles disappeared. They stared at the bag for a moment and then – in almost perfect synchronization – looked at each other and back to me. When Carter spoke, he was amused, but grimly amused. â€Å"Maybe I shouldn't have been so quick to rule out supernatural monsters after all.† â€Å"How,† exclaimed Jerome, nostrils flaring, â€Å"do you always manage to get yourself mixed up in the middle of this shit?† I looked back and forth between the two of them. â€Å"What? What is it?† â€Å"This, Georgina,† announced Carter, tapping the bag with his finger, â€Å"is the Food of the Gods.†

Leadership interview Essay

Our group interviewed five leaders varying from business owners to Sr Vice Presidents of different organizations. As we began to analyze the interviews from our leaders we noticed more common themes than differences amongst them. The first common theme was that three out of the five leaders stated that they defined themselves as participative leadership styles. They functioned as a facilitator rather than simply issuing orders to those that they support. The leaders encouraged active participation from their teams allowing them to express their opinions and be able to demonstrate their abilities. Our leaders participative leadership styles allows the skills of all their team members to be utilized in making suggestions and decisions but the leader is still responsible for making the final decision. This will allow everyone to have their input and provide a well rounded decision that will create a positive environment which will only bring profitability to the organization. As the tra its theory of leadership, most of our leaders agreed that leaders are born with leadership characteristics. They also agreed that there are certain characteristics that can be strengthened and developed by the leaders through their childhood years, beliefs, the environment in which they surround themselves, the ability of how they learn, and most importantly how they react when being provided with feedback. Leaders can enhance and learn certain characteristics through advice, observation of others, and their own experiences. Everyone is born with certain characteristics that will develop into strengths and weaknesses. A good leader will identify these characteristics and apply then into their leadership capacity. As far as the common characteristics that the leaders valued in their employees commitment to the vision of the organization was among the most common. By having the same vision people have a better understanding of the future environment where they are operating, a better understanding of what the organization must be like in the future to be successful, a common goal for building team work and a common vision ensures that everyone makes decisions based on the same direction. Our leaders agreed that result driven employees were another characteristic that they value. Our leaders explained that they like their teams to bring forth not only the problem but possible solutions tha t will help make the best decision for the team and at the same time enhancing the  teams’ decision making skills. Trustworthiness and interpersonal skills were also common characteristics that our leaders stated that they valued in their employees. Interpersonal skills are needed on a daily basis which would include verbal communication, non-verbal communication, listening skills, problem-solving, and decision making. One of the leaders stated that â€Å"the biggest challenge day to day is people and remembering that people are people.† This is when having a person with good interpersonal skills can be very useful to the organization. When it came to the decision making process our leaders stated that they like to take their time in making the correct decision but at times when time is limited they need to follow their instinct based decision. When time is not of the essence our leaders stated that they make their decisions in the following steps: 1) Identifying and clarifying the issue in question this gives them an opportunity to gather facts and ask questions about the issue in question 2) Possible solutions or options 3) Process the information that has been provided to them and then finally 4) Implementing the decision. This process allows the leaders to strengthen the communication between the leaders and their team. This goes back to making a decision where everyone has input based o n the vision and culture of the organization. Consistency with solutions to issues will bring consistency when the need for a resolution arises within an organization. You will have the ability to treat issues equally and know that you have done your due diligence in gathering as much facts and data necessary to make the right decision. One thing that our leaders agreed is that they lead by example. Leading by example is one of the strongest ways to show your dedication the team. As a leader you have to remember that actions speak louder than words. Our leaders know that treating our employees with honesty and respect in another motivation for their employees. Leaders understand that how they treat a person is the same way that the person will treat them. As far differences between leaders there were not noticed during the interview process there were not any that were noticeable. They all seemed to have the same values when it came to their teams or departments. They all expressed that they have confidence in the teams and the people that work with them. The answers provided by the leaders tie into what we have learned in class because as the interviews were being conducted we looked at leadership styles of each individual leader. We also analyzed the examples  that they provided as they explained their styles an d made sure that the style matched the examples that they were providing us. For example, in the case where our leaders stated that they considered themselves Participative style we looked for examples that clearly matched the style like the leaders being supportive of their teams and the input. All leaders mentioned a clear vision of the organization that they support. In order for our leaders to expect that others follow that vision that would need to understand it themselves. It was very interesting to see that all the leaders had a vision that coincided with the value system of the organization. The most important lesson that we learned about true leaders is that leaders will support and help strengthen characteristics of those that are willing to follow to the vision of the organization. We have a better understanding of what leaders expect from their teams and will make the team be effective.