Lyndon B Johnson Fast Facts

Lyndon Baines Johnson succeeded to the presidency upon the assassination of John F. Kennedy. He had served as the youngest Democratic Majority Leader in the United States Senate. He was extremely influential in the Senate. During his time in office, major Civil Rights legislation was passed. In addition, the Vietnam War escalated.   Following is a quick list of fast facts for Lyndon B Johnson. For more in-depth information, you can also read the Lyndon B Johnson Biography Birth August 27, 1908 Death January 22, 1973 Term of Office November 22, 1963 - January 20, 1969 Number of Terms Elected 1 Term; Completed Kennedys term of office after his assassination and then was elected again in 1964 First Lady Claudia Alta Lady Bird Taylor - While serving as First Lady, she advocated beautifying Americas highways and cities.   Chart of the First Ladies Lyndon B Johnson Quote Just like the Alamo, somebody damn well needed to go to their aid. Well, by God, Im going to Vietnams aid. Major Events While in Office Vietnam Conflict Continues (1963 - 1969)Civil Rights Act (1964)Twenty-Fourth Amendment ratified outlawing the poll tax (1964)Medicare and Medicaid (1965)Twenty-Fifth Amendment ratified concerning the order of succession for the presidency (1967)Dr. Martin Luther King, Jr. assassinated (1968)Robert Kennedy assassinated (1968)Pueblo Incident (1968) Related Lyndon B Johnson Resources These additional resources on Lyndon B Johnson can provide you with further information about the president and his times. Essentials of the Vietnam War. Vietnam was a war that brought great pain to many Americans. Some would consider it to be an unnecessary war. Discover its history and understand why it is an integral part of American History. A war that was fought at home as well as abroad; in Washington, Chicago, Berkeley and Ohio, as well as Saigon.Chart of Presidents and Vice Presidents. This informative chart gives quick reference information on the presidents, vice-presidents, their terms of office, and their political parties.

The Invention Of The Automobile Industry - 1832 Words

Introduction The Machine that changed the world published in 1990 is an example of unity of purpose which created an alternate epistemology of the automobile industry for the discerning audience. It is a tightly knit teamwork of three senior managers of the IMVP led by Jim Womack, Daniel T. Jones Daniel Ross and a collective endeavor of several associates and advisors. The book offers a panorama of key concerns in automotive industry based on a research, which took place over a period of five years at a cost of $5 million dollars at Massachusetts Institute of Technology. It was the fecundity of imagination and the need for reformation in the automobile industry that gave birth to the International Motor Vehicle Program at the Massachusetts Institute of Technology .The research, kicked off with industry- government-academia participation and, with funds coming in equal amounts from North America, Western Europe and Japan along with a commitment from industry partners to provide extensive access to motor-vehicle companies. The cameo portrait of the automobile industry is a keener revelation which focuses on smooth transition of industry of industries from mass production to the concretized lean foundation. The automobile industry is the world’s colossal manufacturing exercise, each year producing millions of vehicles. The author’s singled out and embraced automobile industry in this management classic for two reasons a) the automobile industry which is the largestShow MoreRelatedThe Invention Of The Automobile Industry Essay1150 Words   |  5 Pagesdefinitely the biggest invention on history changing the way humans transport. In the past, there were no vehicles and therefore people used to walk while only the few lucky had the privilege of enjoying a horse ride. There were also horse wagons which were made in order to increase the number of persons who could be carried (Lynn, 54). However, in the year 1907, Henry Ford invented the first car model which was referred to as T model, that a llowed everyone to own a automobile. In this paper I willRead MoreThe Invention Of The Automobile Industry1622 Words   |  7 PagesThere is a well known proverb that applies to many industries that goes â€Å"Necessity is the mother of all invention,† but, when it comes to the automobile industry it’s hard to say necessity was the main driving force, as opposed to, say, money. The mechanics of an automobile, and most other power-based machines, revolve around the invention of the internal combustion engine in the early 1860’s and it’s later commercialized application; at first it was more of a luxury item but soon after investorsRead MoreThe Invention Of The Automobile Industry1450 Words   |  6 PagesBackground: One of the most innovative inventions of the 19th century was the invention of the automobile. It is clear that the automobile industry has changed the way people and goods travel. The industry basely existed until a man named Henry Ford made the automobile accessible to the public. He put into full motion what we now know today as the automobile industry. Henry Ford had both changed the automobile industry, as well as the manufacturing industry. Ford did this with the way he used theRead MoreThe Invention Of The Automobile Industry1302 Words   |  6 PagesThe automobile industry is said to have its beginnings dating to the 19th century. Gottieb Daimler and Wilhelm Maybach, of Germany, fitted their engine into a stagecoach in 1886 (Kindersley, 2011, 10). They were both successful at creating the first four-wheeled, gas-engine vehicle. It reached a top speed of ten miles per hour. Each engine was still being fitted into stagecoaches (Kindersley, 2011, 10). The industrial revolution introduced a wide array of new ideas for the automobile. The ideas rangedRead MoreThe Invention Of The Automobile Industry1429 Words   |  6 PagesBefore we begin, let us first look at the history of the automobile to better understand the industry’s roots and its growth. Technological innovations have driven the automobile industry since the very first car was ever created. Utilizing the steam engine, Nicolas Joseph Cugnot was able to create the first vehicle capable of human transportation. Only 40 years later, Francois Isaac de Rivaz engineered an automobile that was powered by an internal combustion engine, using hydrogen as its fuel sourceRead MoreThe Invention Of The Automobile Industry915 Words   |  4 Pages(US) with the automobile. It has often been pictured in media as a staple of the middle class life, a sign of prosperity, and a symbol of freedom. The birth of the worldwide auto industry happened in the US. Cars in some form or another had already existed around the world but they were labor intensive to produce and without a supply the market considered them more of an interesting novelty than a must have product. Henry Ford revolutionized the nascent automobile industry with the developmentRead MoreThe Invention Of The Automobile1051 Words   |  5 PagesThe Invention of the Automobile, A Turning Point in History One could argue that one of the best inventions of the 1900’s was the Model T Ford or Tin Lizzie. The invention of the automobile has certainly left an indelible mark on the American Society. Consequently, the automobile has become the center of an extraordinary industry with the assembly lines and mass production techniques. These elements have essentially revolutionized the automobile industry. The Model T Ford made car travel affordableRead MoreThe Automobile Industry Influenced The American Economy1012 Words   |  5 PagesIn 1769, the first automobile, a steam-powered carriage that would carry up to four people at two miles per hour, was created. Years pass as gasoline engines, wheels, and a steering device were added to the automobile, which began to make it useful but expensive (â€Å"The Invention of Automobiles†). They were hand-crafted at this time, therefore making it unaffordable. Until Henry Ford introduced the assembly line in 1913, automobiles remained expensive. His discovery of the assembly line turned theRead MoreInvention of the Combustion Engine1570 Words   |  7 Pagesinventors and engineers developed a practical, effective internal combustion engine that greatly affected the world. This paper will give opposing views on the background and analyze the effects it had on transportation and the environment. The invention of the internal combustion engine sprouted from the work of several engineers and inventors across Europe and into America. First, in 1859, Jean-Joseph Etienne Lenoir developed the first practical internal combustion engine which after many modificationsRead MoreThe Invention Of Automobiles : A Turning Point For Life852 Words   |  4 Pageswake up and go through his or her daily routines: showering, eating breakfast, and getting ready to go to work or school. Then they go outside or into the garage and get in their vehicle, one of the best inventions man has created. With a car almost anything is possible. The invention of automobiles was a turning point for life in America. Cars gave us the possibility of a brighter future by offering us quicker travels, relief of harsh elements, and the expansion of economic potential. Hundreds of

Why Do People Fail to Mature Free Essays

The teenagers of our generation, with all the latest Innovations and novelties today, are being fed with lots of information and lore. To our dismay, taking in too much information will end up being strapped on a chair, paralyzed, and unable to move. Managing to contain all these backup ideas Is difficult. We will write a custom essay sample on Why Do People Fail to Mature or any similar topic only for you Order Now Our mind Just keeps on storing files. But what about our Are you sure you can handle it? A great paradox In a teenager’s life, too much knowledge makes one unable to function. The problem with teens these days, they get ahead of themselves, making them curious about legion things. Exploring the unknown is fun and exciting for it enriches our minds with new Ideas and thoughts. However, using liberty to do Is quite over the line. The question is, are the teenagers of this generation ready? Unequivocally, no, they are not ready. Well, at least, not now, not yet. Whilst on the other hand, I assays again, if your emotional growth is stunted, do you think that you have developed enough to say that you have really matured? If you ask me. I do not think so! If your emotions control your actions and decisions and If you make these fast and careless, you might want to have second thoughts. This factor, your emotions, hinders your maturity growth. Our feelings are our weakness. Ergo, we must take Into considerations compromising in making our decisions. It Is for us to make our cognitive and emotional maturity to grow forth. We must develop this gradually. We gain too much knowledge than we could take in. However, we are not capable of handling this much for we are not yet ready. Our intellect may have been pacing up UT our psychological aspect isn’t catching up that fast. You are a teenager, undergoing puberty, who is in the middle of being an adult and being a child. If you rush ahead in knowing things, you must not know, and hastening the chances of being an adult immediately will get you stacked in an adolescent body with a child’s mind. It is comparable to the metamorphosis of butterflies. If you crack open the cocoon, rushing it to become a butterfly, yes, you came out as a butterfly, but onto fully developed one. Because of the vast world around us, we tend to get befuddled and curious by arioso things. We rush in knowing too much than we could carry which holds back our emotional maturity. If you want to be mature, act like it. You must be responsible enough to make better decisions. Do not do doltish and idiotic stuff. Start acting your age. Do not get ahead of yourself. Use your brain. It’s not above there for nothing. You are not yet ready. You may gain knowledge, but your emotional health is suffering. That’s why we fail to mature. Other factors may have been excelling, but you cannot be a butterfly it you haven’t gone into a cocoon. How to cite Why Do People Fail to Mature, Essays

Elman Network Intrusion Detection Algorithm - Myassignmenthelp.Com

Question: Discuss About The Elman Network Intrusion Detection Algorithm? Answer: Introducation Telstra Corporation is a renowned organization in telecommunications as well as media in Australia. It is associated with developing and operating in telecommunication networks along with providing internet access, mobile and various other products as well as services for entertainment. The organization is considered as one of the largest company related to telecommunications. In the past few years, there has been a tremendous growth in their business and hence it has acquired a building in Perth, Australia to open a new office for expanding their network. There are various departments required for running the organization however only six departments will be accommodated in the new building. Hence, this report is focused on providing a suitable network design for the new office of Telstra Corporation to meet increasing demand of the organization. Further, the description of the IP addresses and subnets that will be allocated for the devices is also presented along with devices and c abling requirements. Network design and floor plan The network design for Telstra Corporation that has been presented below reflects that there are overall five floors in which the six departments will be accommodated. The floor plan has been prepared as such that sales and marketing department will be in first floor and the other departments will have independent floors for particular department. The network design illustrates that each floor will have a separate router connected to the central router in which ISP (Internet Service Provider) will provide internet access. Further, a wireless access point will be dedicated to each department in the building. The server room will be situated on fifth floor along with Information technology department. IP addresses and subnets A simple addressing solution will be followed for allocating IP addresses to the devices required for the organization. The solution for IP address allocation that has been designed for the network of Telstra Corporation is presented below: Major Network:10.0.0.0/23 Available IP addresses in major network:510 Number of IP addresses needed:230 Available IP addresses in allocated subnets:276 About56%of available major network address space is used About83%of subnetted network address space is used Subnet Name Needed Size Allocated Size Address Mask Dec Mask Assignable Range Broadcast Sales 60 62 10.0.0.0 /26 255.255.255.192 10.0.0.1 - 10.0.0.62 10.0.0.63 Information technology 50 62 10.0.0.64 /26 255.255.255.192 10.0.0.65 - 10.0.0.126 10.0.0.127 Marketing 50 62 10.0.0.128 /26 255.255.255.192 10.0.0.129 - 10.0.0.190 10.0.0.191 Research 30 30 10.0.0.192 /27 255.255.255.224 10.0.0.193 - 10.0.0.222 10.0.0.223 Accounting 25 30 10.0.0.224 /27 255.255.255.224 10.0.0.225 - 10.0.0.254 10.0.0.255 Dispatch 15 30 10.0.1.0 /27 255.255.255.224 10.0.1.1 - 10.0.1.30 10.0.1.31 The network has been designed such that it can accommodate around 510 hosts if there is increasing demand with growth in the business. It has been determined that presently there will be 230 workstations as hosts in the network. The IP address will be allocated to the devices by central router using DHCP (Dynamic Host Configuration Protocol). This means that automatic allocation of IP address will be carried out for devices in the network. The wireless access points will provide gateway to access the network through mobile devices so that guests are able to have the facility of Internet access. However, the accessibility to the network will be restricted according to the authorization level of users. Used devices and cable types The devices that will be used to set up the network infrastructure for Telstra Corporation along with the required types of cables are presented as below: Device Name Model Specification Router Cisco 2911 Integrated Services Router 3 integrated 10/100/1000 Ethernet ports (RJ-45 only) 4 enhanced high-speed WAN interface card slots 2 onboard digital signal processor (DSP) slots Switch Cisco 2960-X series switch PoE: Power over Ethernet LAN Base: Advanced Layer 2 Feature set IP Lite: Basic Layer 3 Feature set Server Cisco UCS C480 M5 Rack Server 2666-MHz DDR4 memory and 48 DIMM slots 12 PCI Express (PCIe) 3.0 slots 32 Small-Form-Factor (SFF) 2.5-inch, SAS, SATA, and PCIe NVMe disk drives Wireless access points Cisco RV130W WF wireless router 4-port switch Ethernet, Fast Ethernet, Gigabit Ethernet, IEEE 802.11b, IEEE 802.11g, IEEE 802.11n 825 Mbps 12000 IPSec VPN tunnels: 10 VPN tunnels: 10 Workstation Dell XPS 8500 Desktop CPU - Intel Core i7 (3rd Gen) 3770 / 3.4 GHz Max Turbo Speed - 3.9 GHz Technology - DDR3 SDRAM - non-ECC Memory Speed - 1600 MHz Installed Size 8 GB Laptops Apple MacBook Air Processor - 5th Gen Intel Core i5 RAM - 8 GB Disk Drive - 128 GB SSD Operating System - MacOS Sierra Cables Cat 6 cable Frequency - 250 MHz Return Loss (Min. at 100MHz) - 20.1 dB Characteristic Impedance - 100 ohms 15% Cost analysis The cost benefit analysis that has been calculated in context to the proposed network design for Telstra Corporation is illustrated below Criteria Costs Development Hardware $ 32,500.00 Software $ 1,250.00 Networking team salaries $ 9,650.00 Training $ 1,500.00 Total Development Cost $ 44,900.00 Operations Hardware $ 9,250.00 Software $ 350.00 Operational Labor $ 13,500.00 Total Operational Cost $ 23,100.00 Net Benefits Approximate salary savings $ 150,000.00 Reduced operating cost $ 50,000.00 Total Benefit $ 200,000.00 Discount Rate Used 4.00% The total benefit that will be achieved from implementing the proposed network design has been estimated as $ 200,000.00. The net benefits that will be achieved annually has been calculated as the total of operational costs annually and one time development cost. Discount Rate Used 4.00% Annual Benefits $ 200,000.00 Annual Operational Costs $ 23,100.00 One-Time Development Cost $ 44,900.00 The below table presents the analysis of costs and benefits in context to the network design where it is calculated that the investment will be returned within 05 years. Year of Project 0 1 2 3 4 5 Economic Benefit $0.00 $ 200,000.00 $ 200,000.00 $ 200,000.00 $ 200,000.00 $ 200,000.00 Discount Rate 1.0000 0.9615 0.9246 0.8890 0.8548 0.8219 PV of Benefits $0.00 $192,307.69 $184,911.24 $177,799.27 $170,960.84 $164,385.42 NPV of all BENEFITS $0.00 $ 192,307.69 $ 377,218.93 $ 555,018.21 $ 725,979.04 $ 890,364.47 One-Time COSTS $(44,900.00) Recurring Costs $0.00 $ (23,100.00) $ (23,100.00) $ (23,100.00) $ (23,100.00) $ (23,100.00) Discount Rate 1.0000 0.9615 0.9246 0.8890 0.8548 0.8219 PV of Recurring Costs $0.00 $ (22,211.54) $ (21,357.25) $ (20,535.82) $ (19,745.98) $ (18,986.52) NPV of all COSTS $(44,900.00) $ (67,111.54) $ (88,468.79) $ (109,004.60) $ (128,750.58) $ (147,737.10) Overall NPV Overall ROI Break-even Analysis Yearly NPV Cash FLOW $(44,900.00) $ 170,096.15 $ 163,553.99 $ 157,263.46 $ 151,214.86 $ 145,398.91 Overall NPV Cash FLOW $(44,900.00) $ 125,196.15 $ 288,750.15 $ 446,013.60 $ 597,228.47 $ 742,627.37 References "Expand your network, get rewarded",IEEE Design Test, vol. 33, no. 5, pp. 100-100, 2016. Todd, A. Ibigbami and J. Doucette, "Survivable Network Design and Optimization with Network Families",Journal of Computer Networks and Communications, vol. 2014, pp. 1-12, 2014. Clement and P. Puranam, "Organization Design as Guided Network Evolution",SSRN Electronic Journal, 2015. Vacca,Network and system security. . Wang, "The Design of Improved Elman Network Intrusion Detection Algorithm in Digital Campus Network",Advanced Materials Research, vol. 1049-1050, pp. 2096-2099, 2014. Mahshid and R. Eslamipoor, "An efficient and secure authentication for inter-roaming in wireless heterogeneous network",Social Network Analysis and Mining, vol. 4, no. 1, 2014. K and K. Gopal, "A Survey on Cost Effective Survivable Network Design in Wireless Access Network",International Journal of Computer Science Engineering Survey, vol. 5, no. 1, pp. 11-18, 2014. Chen, Z. Zhang and Q. Cui, "Design of Three-dimensional Interchange Network Based on IPv4/IPv6 Network",Journal of Networks, vol. 8, no. 3, 2013.

BigLafz Puzzle Company

BigLafz Puzzle Company is experiencing some organizational challenges owing to the deteriorating financial performance. Having been in the business environment for almost a century, the organization finds itself caught between ‘a rock and a hard place’ owing to its decreasing profitability. In fact, it has lost its competitive edge over its rivals and the collapse of the economy that has stripped the consumers off their spending power complicating the situation even further.Advertising We will write a custom case study sample on BigLafz Puzzle Company specifically for you for only $16.05 $11/page Learn More To rectify the situation, the managing director seeks to minimize the labor costs through layoffs and downsizing strategies. This brings about the ethical dilemma of which employee to fire given that the company has decided to fire only one employee. Potential employees for layoff are four. The manager ought to choose the one to fire cons idering they all have different credentials and needs. This analysis provides insights of the employee who deserves to go home by use of reasoning. Baradacco Jr (1997) provides an outline of factors to consider when making right versus right decision and solving ethical dilemmas and puzzles. Cost benefit analysis explores the consequences of a certain managerial decision. If the negative consequences are considerably lower than the expected benefits, the decision is appropriate. Beyond this analysis, it is important not to infringe on the human and labor rights of an individual when making a decision (Baraccado Jr, 2002). Hence, it is appropriate to explore the potential of the decision to violate people’s rights. Third, individual character is of paramount importance and so is the organization’s character. For this reason, a manager ought to analyze the way the decision will injure or enhance the organization’s character and integrity. Finally, a manager should consider pragmatism as explicated by Machiavelli of dealing with the world as it is and being realistic (Baraccado Jr, 2002). Considering all these factors, as the manager of BigLafz Puzzle Company I would make a decision of firing Tyrone. The rationale is that on a cost-benefit analysis, the company stands to lose a young, ambitious and multi talented employee whose has been impeccable in performance. But at what cost? In Tyrone, the organization has a person who is boastful of his achievements, casual on deadlines and ignorance of detail when asked to deliver on a project. Apparently, the organization is unsure of the longevity of his stay at the company owing to various resumes he has dropped to competing companies. As such, the company will lose an employee it has nurtured making the organization to train other people or even recruit new person to fill his position incurring even increased expenses in the long-term. Second, the company will not be infringing on the employeeâ₠¬â„¢s rights. The rationale is that the company management has noticed his unbecoming behavior in the context of the organization and consequently, given him some warnings. He has not worked for the organization long enough to be pensionable and thus, his rights will not be violated. Third, character is an important factor that managers should consider when making such decisions.Advertising Looking for case study on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Tyrone is single and has no dependants unlike employees such as Felicia who works extra hard to meet the obligations of her household composed of three teenagers. Hence, the only person that the decision will affect is Tyrone. This will enhance the character of organization since the barbaric behavior he exhibits is not in line with the culture of the organization. It also defies integrity that the organization desires (Baraccado Jr, 2002). Finally, the organizat ion’s management should be pragmatic and deal with the world as it is. This does not entail acting recklessly but understanding that the image of the organization would ultimately stand to lose owing to the behavior of Tyrone. To that end, I would fire Tyrone. References Badaracco Jr, J. (1997). Defining Moments: When Mangers Must Choose Right and Right. Wisconsin: Pearson Books. Braccado Jr, J. (2002). Defining Moments: Lecture Text. Harvard Business School, 1(2), 1-12. Chester, B. Thomson, K. (2003). Organization and Management. New York: McGraw Hill Publishers. This case study on BigLafz Puzzle Company was written and submitted by user Sara L. to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.

Innovations and Inventions for the Hearing Impaired

Innovations and Inventions for the Hearing Impaired No one person invented sign language; it evolved worldwide in a natural fashion, much the way any language evolved. We can name a few people as the innovators of specific signing manuals. Each language (English, French, German, etc) developed their own respective sign languages at different times. American sign language (ASL) is closely related to French sign language. In 1620, the first book on sign language that contained the manual alphabet was published by Juan Pablo de Bonet.In 1755, Abbe Charles Michel de L’Epee of Paris founded the first free school for deaf people, he used a system of gestures, hand signs, and fingerspelling.In 1778, Samuel Heinicke of Leipzig, Germany founded a public school for deaf people, where he taught speech and speechreading.In 1817, Laurent Clerc and Thomas Hopkins Gallaudet founded Americas first school for deaf people, in Hartford, Connecticut.In 1864, Gallaudet College, in Washington, D.C was founded, the only liberal arts college for deaf people in the world. TTY or TDD Telecommunications TDD stands for Telecommunications Device for the Deaf.  It is a method of coupling Tele-Typewriters to telephones. Deaf orthodontist Doctor James C Marsters of Pasadena, California shipped a teletype machine to deaf physicist Robert Weitbrecht in Redwood City, California and requested a way to attach it to the telephone system so that phone communication could take place. The TTY was first developed by Robert Weitbrecht, a deaf physicist. He was also a ham radio operator, familiar with the way hams used teleprinters to communicate over the air. Hearing Aids Hearing aids in their various forms have provided needed amplification of sound for many persons experiencing hearing loss. Since hearing loss is one of the oldest of the known disabilities, attempts to amplify sound go back several centuries. It is unclear who invented the first electric hearing aid, it may have been the Akoulathon, invented in 1898 by Miller Reese Hutchinson and made and sold (1901) by the Akouphone Company of Alabama for $400. A device called the carbon transmitter was needed in both the early telephone and the early electric hearing aid. This transmitter was first commercially available in 1898 and was used to electrically amplify sound. In the 1920s, the carbon transmitter was replaced by the vacuum tube, and later by a transistor. Transistors allowed electric hearing aids to become small and efficient. Cochlear Implants The cochlear implant is a prosthetic replacement for the inner ear or cochlea. The cochlear implant is surgically implanted in the skull behind the ear and electronically stimulates the nerve of hearing with small wires touching the cochlea. External parts of the device include a microphone, a speech processor (for converting sounds into electrical impulses), connecting cables, and a battery. Unlike a hearing aid, which just makes sounds louder, this invention selects information in the speech signal and then produces a pattern of electrical pulses in the patients ear. It is impossible to make sounds completely natural because a limited amount of electrodes are replacing the function of tens of thousands of hair cells in a normally hearing ear. The implant has evolved over the years and many different teams and individual researchers have contributed to its invention and improvement. In 1957, Djourno and Eyries of France, William House of the House Ear Institute in Los Angeles, Blair Simmons of Stanford University, and Robin Michelson of the University of California, San Francisco, all created and implanted single-channel cochlear devices in human volunteers. In the early 1970s, research teams led by William House of the House Ear Institute in Los Angeles; Graeme Clark of the University of Melbourne, Australia; Blair Simmons and Robert White of Stanford University; Donald Eddington of the University of Utah; and Michael Merzenich of the University of California, San Francisco, begin work on developing multi-electrode cochlear implants with 24 channels. In 1977, Adam Kissiah a NASA engineer with no medical background designed a cochlear implant that is widely used today. In 1991, Blake Wilson greatly improved the implants by sending signals to the electrodes sequentially instead of simultaneously - this increased clarity of sound.

Musical cultures of native american and brazil Essay

Musical cultures of native american and brazil - Essay Example "Traditional music culture in Brazil and Native American cultures" essay describes the diversity of music styles of these cultures. These two groups of people have had a long history characterized by struggle, the strife and the final triumph. To begin with, The American Song published by Alexander Street Press. It is a large database that contains over 50,000 tracks which offer room for people to listen to and have a feel of America's past music. As such the database includes songs formulated by the Native Americans, the immigrants as well as slaves. Also inclusive in the database are Civil Rights songs, the political campaigns, Civil War among much more. The Encyclopedia of Natives Music: More Than a Century of Recording from Wax Cylinder to the Internet by Brian Wright-McLeod, illustrated by photographs and cover albums. And printed by Tucson: The University of Arizona Press, 2005 for Fine Art Music Collections provides vital information concerning the Native American culture. As such, the Encyclopedia of Native American Music recognizes contributions made by some Native recording artists by examining commercially released music history. Indeed it provides an overview of the recorded Native music while pointing out its historical value which has been organized by the genre for a much quicker reference. In addition, soundtracks as well as, compilation albums for artists have been included. As such this book enumerates some spoken word recordings and further includes comedy, poetry and audio books. Indian Blues: American Indian and Politics of Music, 1879-1934 written by, John W.T,    Norman: University of Oklahoma Press, c2009. As such, Troutman  examines the politics of music on the Indian reservations and public venues as well as, reservation boarding schools at the beginning of the 20th century. During this period , US government (Office of the Indian Affairs) was engaged in controlling the musical practices Indian Americans as a way of assimilating them. The author uses the opening of the Carlisle Indians School in 1879, and the enactment of the Indians Reorganization Act in 1934 at the start and conclusions. As such, he examines how the Native American, government officials as well as , the non-Indian audiences adopted musical practice in order to shape the Indian policy. Music of the First Nations: Traditions and Innovations in the Native North American edited by Tara Browner.  Urbana: University of Illinois Press, c2009.  As such, this anthology lays out a numb er of ways in approaching an ethnomusicology of the musical expression of the Native Americans. Concerning the Culture in Brazil, About.com Latin music describes different types of traditional songs performed in Brazil, more particularly; the samba, Bossa nova and Choro have been identified. Additionally, Buzzlle describes different forms of Brazilian music, and the musical instruments used, listing, Bateria, Ganza Shekere, and the tambourine among others RESPONSE TO III The challenges include language diversity, rise of global communications and the ease at which people move, increased competition, the American cultural exchange service, the Bahia

Disorders and Diseases of the Thyroid Research Paper

Disorders and Diseases of the Thyroid - Research Paper Example Introduction In evidence-based practice, only after the problem is understood and researched can medical professionals state a current best method of treatment. In this type of medical practice, medical professionals rely on cutting-edge research results to make treatment decisions, rather than on the older method of assuming that tradition and authority always held the right answers for a patient. The best patient care is recognized to be a combination of the current valid medical research, a practitioner's own experience and education, and the situation of an individual patient (Fineout-Overholt, Stillwell, Williamson, Cox, & Robbins, 2010). Applied to the area of thyroid dysfunction, evidence-based and best practice guidelines could mean recognizing the effect of a specific patient's lifestyle on their body's health in order to tell the difference between simple obesity and a depressed thyroid, for example, and keeping up with the most current literature on which types of thyroid hormones are considered to be most effective (Maas, 2007). Since by some estimates, as much as five percent of the general female population and more than twenty-five percent of the entire population over the age of seventy-five suffers from some form of thyroid disease, it is vitally important that the medical community understand these issues as they relate to thyroid dysfunction (Maas, 2007; Mulryan, 2010). Some types of thyroid dysfunction result in the over-production of metabolic hormones. This over-production results in a condition known as hyperthyroidism (Mulryan, 2010). Hyperthyroidism is most commonly seen in women until the age of sixty-five or seventy-five, at which point, as in seen in thyroid disease across the board, the incidence greatly increases and becomes equally likely between the sexes (Gutierrez, 2008). As would be expected from a gland whose purpose is to regulate the body's metabolism, hyperthyroidism leads to a severely increased basal metabolic rate. The overactive thyroid can produce as much as five to fifteen times the normal amount of thyroid hormones and can result in a myriad of detrimental effects on the rest of the body. This increase in secretion is achieved through an increase in the size and an available cellular matrix of the thyroid gland, so that many more cells can live within the gland, as well as through an increase in the secretion of the hormone by the individual thyroid cells (Hall, 2011). Generally, this condition is induced by a direct infection within or damage to the thyroid gland itself, though it can also occur rarely as a secondary disorder when there is a dysfunction in the pituitary or hypothalamus glands (McCance, Huether, Brashers, & Rore, 2010). The most common diseases that lead to either the primary or secondary dysfunction of the glands are auto-immune diseases, while some causes of reversible primary damage to the thyroid itself are an iodine deficiency in the diet or viral infection of the thyroid (Mulryan, 2010).  

What kind of thinker are you Essay Example | Topics and Well Written Essays - 500 words

What kind of thinker are you - Essay Example Critical thinkers usually tend to be self-disciplined, self-directed, self-monitoring and self-corrective; they raise crucial questions about an issue then go ahead to formulate questions clearly and precisely to come up with the most effective way of reasoning (Hills, 2011). There are six stages in critical thinking that include; the unreflective thinker who is not aware of the significant flaws in his way of thinking, the confronted thinker who are aware of problems in their way of reasoning. The third stage is that of the novice thinker, who is aware of the problems in his thought process and tries to improve his thinking although this type of thinker is not consistent, proactive thinker is the fourth phase where the thinker acknowledges there is need to have a regular and consistent training in order to improve their thinking process. The fifth phase if that of the advanced thinker where the individuals begin to advance in their thinking process due to the amount of practise they have put in place and the final phase is the master thinker where an individual becomes skilful and insightful, he is analytical and reflective in his thinking process. Another area of critical thinking that was key in learning was the procedure of becoming a critical thinker, the various way that an individual can develop his thinking process through the six phases of critical thinking to become a master thinker. The importance of the critical thinking can also not be underrated in the learning process as it explains how and where the process of critical thinking is useful. My critical thinking has changed since starting the study of critical thinking in that I did not initially acknowledge my thinking process was flawed but after learning about the process of critical thinking, I now realise the flaws in my thinking. My stage of development has been that of an unreflective thinker, this is informed by the

Leadership style affect on employee work performance

Leadership style affect on employee work performance According to Khurana, R. (2002) leadership is essentially the secret to successfully fulfilling demanding roles in todays society. A leadership style encompasses a consistent combination of individual behaviors and attitudes towards group members in order to achieve goals. Effective leadership can be a fundamental tool in maximizing company performance and has elicited an abundance of research. Employee performance comprises of two components: performance on the job and withdrawal from the job (Brayfield, A.H. and Crockett, W.H., 1955). Performance on the job refers to factors such as efficiency and overall quantity and quality of output. Withdrawal from the job demonstrates adverse occurrences including absences, accidents and turnover. Subsequent definitions have marked performance as the ability to accomplish a purpose and produce the desired result (Chatman and Flynn, 2001). This essay seeks to outline types of leadership styles projected by various researchers. In a culture that has denoted the immense importance of effective leadership, it will then analyse the effects of leadership styles on employee work performance in accordance to the criteria above. To conclude, this essay will question the impact of leadership style, and finally debate whether it is crucial for adequate performance. During the twentieth century, it was thought that reaching goals were vital to success, leading to the development of classical theories such as Taylors theory of Scientific Management and Fords introduction of the Assembly Line. However, Mayos Hawthorne Studies exposed the importance of social factors in addition to economic motivators. Thus, the Human Relations Movement emerged resulting in a shifted focus onto social processes, and effectively the expansion of leadership theories. The Ohio State Studies highlighted two central factors to leadership: Initiating Structure and Consideration (Stogdill, 1974). Initiating structure addressed task behaviours which served to fulfill duties whereas consideration represented relationship behaviours which aided to build leader-follower links. Essentially, levels of each component would combine to signify the leadership style a particular leader would adopt (see Appendix 1 in Appendices). Likert (1961) went on to summarise leadership styles into four types: exploitative autocratic, benevolent autocratic, consultative and democratic. Leadership styles could be distinguished into four main types: autocratic, democratic, laissez-faire and human relations. An autocratic (or directive) leader would exude a sense of control and often outlining the means of how to achieve targets. Democratic leaders would alternatively consult group members and implement a vote before final decisions. Democratic leaders fall into a sub-group of participative leaders which involve group members in decision making. The laissez-faire approach encourages independence of followers and rarely contributes to the methods of output. Finally, a human relations style comprises of attributes similar a democratic leader, emphasizing the importance of consulting those involved before making a decision (Berkowitz, 1954). The Michigan Studies concluded that leadership styles could be formed on a basis of their employee orientation and production orientation, which consisted of behaviours similar to the Ohio State studies (Katz, D., Kahn, R.L., 1951). Originally, these constructs were seen as dependent variables; that is, if a leader was highly employee orientated their focus on product was compromised and vice versa. However, this principle was subsequently reconceptualised and viewed as independent constructs (Kahn, R.L., 1956). The development of assessment methods later materialized including the Managerial Grid which assigned leaders levels of task and people concern (Blake and Mouton, 1964, 1978 1985). The five central styles are exhibited in Appendix 2 in the Appendices. An authority-compliance leadership style would possess large focus on output and presuppose that followers would obey their orders. Conversely, a County club style leader would stress the importance of addressing peoples needs before output. Impoverished Management Style involves little input from the leader in both aspects, which could be associated with the laissez-faire approach. Initially, autocratic leadership appeared to be idyllic in boosting performance. Before Fords Assembly Line was introduced the factory was producing two-hundred cars per day at a rate of ten days per car. The introduction of Fordism entailed ordering employees when and how to complete tasks. Consequently, productivity rose leading to a total increase of two-thousand-and-five hundred cars per day (Roberts, A., 2009). One cannot deny that autocratic leadership was effective in reaching, and even exceeding, performance targets. However, according to Blake, R.R. and Mouton, J.S. (1975), the effectiveness of authority has diminished. It seems that as the human relations movement emerged, so did new preferential leadership styles: today, in an environment of vastly improved education many are rejecting traditional authority and trying to set up and act upon their own. Results from Blake and Moutons Managerial Grid found that most respondents score towards the 5, 5 middle-of-the-road style. This implies that most common leadership styles consist of a balance between people and task concern. The 9, 9 approach is acknowledged by managers as the soundest way to achieve excellence. This conclusion has been verified from studies throughout the U.S. and around the world. (Blake Mouton, 1975). It seems that nowadays attention to employees needs whilst maintaining performance targets is a must. Leadership styles that incorporate both concerns are vital to boosting employee performance. According to Lewin et. al (1939), variations of leadership styles influences performances. This study measured the consequence of leadership style on aggression, which could used to connote performance since aggression could be attributed to withdrawal from the job. Laissez-faire was the most common situation for provoking aggression followed by autocracy and democracy. This suggests leadership styles alternate aggression levels and possibly performance. However, it is difficult to generalise findings from a study of young children performing trivial tasks to large organisations where tasks are complex and aggression is not tolerated. Further findings concluded the boys agreed in a relative dislike for their autocratic leader whereas the majority of participants preferred their democratic leaders to their autocratic ones. Assuming that higher liking for a leader would result in preferential performance, this could infer that a democratic leadership style has a positive effect, thus supporting the argument that leadership style impacts performance. However, it would be reductionist to draw a finite conclusion on the practicality of leadership styles according to this piece. It fails to recognise the importance of upbringing which evidently affects the impact of leadership styles. The participant to dislike their democratic leader happened to be the son of an army officerand consciously put a high value upon strict discipline. Thus, it is not exclusively leadership style that affects behaviour but also the values and social norms an individual has acquired. If this concept were expanded onto organisational terms, it could be said that the culture of a business would contribute to whether leadership has a consequence. For instance, in the Ford factories a democratic approach may have been inappropriate in an environment where workers were unskilled and required guidance, hence why autocracy succeeded in boosting performance. An important factor to consider when assessing the usefulness of leadership style is situational variables that exist beyond the control of leaders. According to Tannenbaum and Schmidt (1958) these variables include: Type of Organisation; Group Effectiveness; The Problem Itself and The Pressure of Time These factors could determine the success of leadership styles, and leadership as a general instrument of performance. Participative leadership has been found to be more favourable for moderately structured problems while directive leadership was more compatible in situations facing fairly structured problems (Kahai, S. et. al, 1997). This most certainly has implications for the role of leadership styles within the workplace. It could infer that under circumstances where the problem comprises of routine and repetitive tasks a participative leadership style is complimentary in motivating employees to sustain performance. Conversely, problems which are more ambiguous may call for a directive leadership style to inspire followers and unite towards the same goal. Thus, in one respect, it could be argued that leadership styles are ineffective in promoting employee performance as situational variables will ultimately alter overall success. Nevertheless, it is not unreasonable to dispute th at, provided the right style is adopted, leadership style can be imperative in steering employees towards the right aims using the appropriate methods. Conducted research measured the effects of directive and participative leadership style on Heterogeneous teams (teams comprised of members deriving from varying backgrounds with dissimilar skills) and team reflection, and subsequently performance (Somech, A., 2006). Findings discovered that participative leadership lowered team in-role performance under the condition of high functional heterogeneity but found no effect on low functional heterogeneity. Directive leadership, however, had a positive impact on performance. Therefore, it could be debated that leadership style has a consequence on work performance. However, Somech has pointed out that an investigation by Kahai et al. (1997) found no difference in frequency of supportive remarks or of critical remarks in teams working with a participative and with a directive superior. Hence, suggesting that workers cease to notify a difference between these leadership styles and are able to respond to both forms, which subsequently casts d oubt over the value of leadership styles. The relevance of leadership styles is challenged by several theories including the trait approach. It proposes that successful leadership is derived from the possession of certain characteristics such as drive, honesty and integrity and self-confidence rather than styles (Kirkpatrick, S.A. and Locke, E.A., 1991). Supporting research for this approach is plentiful in comparison to the style approach (Stogdill, R.M, 1948 1974; Mann, R.D., 1959; Kirkpatrick, S.A. Locke, E.A., 1991). However, it is yet to generate a definite list of traits and there is less clear evidence to support certain traits such as charisma. In reality, despite its enticing facade, the possession of charisma can often lead to corporations hiring inappropriate candidates. The detrimental effects of charisma were exposed in the case of Enron; the hiring of Jeff Skilling as CEO contributed to their fatal downfall as he was able to justify unethical activities through his charismatic traits, such as allowing top exe cutives to participate in the off-balance-sheet partnerships, (Khurana, R., 2002). However, this approach has failed to produce substantial research linking it to performance outcomes (Yukl, G., 1994). The issues addressed in this essay relate to the introduction of leadership styles and examines the value on employee performance. The profusion of research in this area infers that leadership style has a consequence on employees in the workplace. Nonetheless, research has failed to depict an adequate association between leadership style and work performance, with many results proving contradictory and inconclusive (Yukl, 1994). The lack of conclusive evidence for any approach to explaining leadership could have implications for the concept itself. There is reason to suggest that leadership is not critical with studies finding that forty-seven percent of executives rated their companies overall leadership capacity as poor/fair while a minor eight percent ranked it as excellent (Csoka, L.S., 1998). The reliance of leadership in enhancing performance has largely been questioned with some arguing it as a romanticized conception (Meindl, J.R., et. al, 1985) and others speculating the concept as a social myth which symbolically represents a regressive wish to return to the symbiotic environment of the womb (Gemmill, G. and Oakley, J., 1992). In other words, leadership is a necessity that society has created itself in order to disillusion individuals with the belief that another should be responsible for creating the visions and responsibilities that they could merely accept themselves. In addition, researchers ha ve argued that leadership is not vital if substitutes are available such as individual job expertise and intrinsic task satisfaction (Kerr, S. and Jermier, J.M., 1978). Thus, it brings it into question that if leadership is not a stabilized concept, then perhaps all theories based on leadership could be brought into interrogation, including the principle of leadership styles. The usefulness of leadership styles is undermined by the lack of an optimal style in all situations. Nevertheless, it has been suggested that leaders have back-up strategies if the usual style of accomplishing tasks fail (Blake, R.R Mouton, J.S, 1975). As oppose to debating which style is superlative, it may be sensible to advocate the notion that styles could compliment one another (Sagie, A., 1997). This proposal reinforces the usefulness of leadership style providing that the appropriate style is employed according to varying circumstances. The extent of research conducted, regardless of its substantiality, generates implications that leadership styles do matter(Somech, A., 2006). It would be ignorant to deny the magnitude of leadership in organisations, but that is not to say it should not be considered with caution. It would be reductionist to claim leadership is purely the reason for performance variations. Situational variables, such as culture, will inevitably influence leadership success. Rather than arguing a prime style, an appropriate approach to delegating leadership style would be the Path-Goal Theory which states that leadership styles should be allocated according to the characteristics of the subordinates and the nature of the task (House, R.J. Mitchell, R.R., 1974). Leadership style as a reputable concept clearly imposes an effect on efficacy but companies cannot place full reliance on this tool; leadership style is merely a stimulant and not the sole foundation of employee performance. Appendices Appendix 1 Classic descriptors of leaders decision behaviours diagram taken from Roberts, A. and Corbett, M. (2009) Understanding Organisational Behaviour IB1230. Warwick Business School; McGraw Hill Custom Publishing, p. 197. SHOWING CONSIDERATION High Human Relations Democratic Low Lassez-faire Autocratic Low High INITIATING STRUCTURE Appendix 2 Blake Moutons Managerial Grid. (Blake, R.R and Mouton, J.S. 1975) Bibliography Berkowitz, L. (1954) Group Standards, Cohesiveness, and Productivity, Human Relations 7, pp. 509-514. Blake, R.R. and Mouton, J.S. (1964) The managerial grid. Houston, TX: Gulf Publishing Company. Blake, R.R. and Mouton, J.S. (1975) An Overview of the Grid, Training and Development Journal, 29 (5), May, p. 29-36. Blake, R.R. and Mouton, J.S. (1978) The new managerial grid. Houston, TX: Gulf Publishing Company. Blake, R.R. and Mouton, J.S. (1985) The managerial grid III. Houston, TX: Gulf Publishing Company. Brayfield, A.H., and Crockett, W.H. (1955) Employee Attitudes and Employee Performance, Psychological Bulletin, 52 (5), pp. 396-424 Chatman, J.A., and Flynn, F.J. (2001) The Influence of Demographic Heterogeneity on the Emergence and Consequences of Cooperative Norms in Work Teams, The Academy of Management Journal, 44, p. 956-974. Corbett, M. (2009) Understanding Organizational Behaviour (IB1230) Martin Corbett Lecture Slides: Leadership. Warwick Business School; University of Warwick. Csoka, L.S. (1998) Bridging the Leadership Gap. New York: Conference Board. Dubrin, A.J., 2007, Leadership: Research Findings, Practice and Skills. Fifth Edition. Boston, New York. Houghton Mifflin Company. Gemmill, G. and Oakley, J. (1992) Leadership: An Alienating Social Myth? Human Relations, 45 (2), February, p. 113-129. House, R.J. Mitchell, R.R. (1974) Path-goal theory of Leadership. Journal of Contemporary Business, 3, pp. 81-97. Kahai, S., Sosik, J. and Avolio, B.J. (1997) The effects of leadership style and problem structure on work group process and outcomes in an electronic meeting system environment, Personnel Psychology, 50 (1), March, p. 121-146. Kahn, R.L. (1956) The Prediction of Productivity. Journal of Social Issues, 12, pp. 41-49. Katz, D., Kahn, R.L. (1951) Human Organization and worker motivation. In L.R. Tripp (ed), Industrial productivity (pp. 146-171). Madison, WI: Industrial Relations Research Association. Kerr, S. and Jermier, J.M. (1978) Substitutes for Leadership: Their Meaning and Measurement, Organizational Behavior and Human Performance, 22, December, pp. 375-403. Khurana, R. (2002) The Curse of the Superstar CEO. Harvard Business Review, 80 (9), September, p. 60-66. Kirkpatrick, S.A. and Locke, E.A. (1991) Leadership: do traits matter?, Academy of Management Executive, 5 (2), May, p. 48-60. Likert, R. (1961) New patterns of management. New York; McGraw-Hill. Lewin, K., Lippitt, R. and White, R. (1939) Patterns of aggressive behavior in experimentally created social climates. Journal of Social Psychology, 10 (2), May,   p. 271-299. Mann, R.D. (1959). A Review of the Relationship between Personality and Performance in Small Groups. Psychological Bulletin, 56, pp. 241-270. Meindl, J.R., Ehrlich, S.B. and Dukerich, J.M. (1985) The Romance of Leadership, Administrative Science Quarterly, 30 (1), March, p. 78-102. Northouse, P.G., 2007, Leadership: Theory and Practice. Fourth Edition. California; London; New Delhi. Sage Publications, Inc. Roberts, A. (2009) Understanding Organizational Behaviour (IB1230) Ashley Roberts Lecture Slides: Lecture 3, Classical Theories (2): Ford and The Assembly Line. Slide 8. Warwick Business School; University of Warwick. Roberts, A. and Corbett, M. (2009) Understanding Organisational Behaviour IB1230. Warwick Business School; McGraw Hill Custom Publishing. Sagie, A. (1997) Leader direction and employee participation in decision making: Contradictory or compatible practices? Applied Psychology: An International Review, 46. p. 387-452. Somech, A. (2006) The Effects of Leadership Style and Team Process of Performance and Innovation in Functionally Heterogeneous Teams, Journal of Management, 32 (1), February, p. 132-157. Stogdill, R.M. (1948). Personal factors associated with Leadership: A survey of the literature, Journal of Psychology, 25, pp. 35-71. Stogdill, R.M. (1974). Handbook of leadership: A survey of theory and research. New York: Free Press. Tannenbaum, R. and Schmidt, W. (1958) How to Choose a Leadership Pattern, Harvard Business Review, 36 (2), March/April, p. 95-101. Yukl, G. (1994). Leadership in organizations. Third edition. Englewood Cliffs, NJ: Prentice Hall. Page 1 of 11

Censorship of Music :: Music Censoring Singers Bands Musicians Essays

Censorship of Music During the Doors concert in Miami, in 1969, lead singer Jim Morrison, "did lewdly and lasciviously expose his penis and shake it. . ." (Rosen et al. 90). Today, Billy Joe Armstrong, lead singer of Green Day, bares all at his concert in Philadelphia (Bernstein 95). The eccentric Courtney Love will rip off her bra for the audience to marvel and glorify at her action (Bernstein 95). She acts in such a fashion because she is insane and wants to prove it to the world, where as Billy Joe just performs naked for the shock value and the love of hearing tabloids and gossip. Both performers of past and present conducted strange acts on stage for the shock value and attention, but with performers of old, it reflected their life and what they were really like. Today's performers, however, do not act like that in real life, for the most part. Today, performers take on challenges, like the dare of a child. . . "Betcha won't do it!" These rock performers cannot turn down a dare or back away from even the slightest bit of public notoriety. By listening to one of their "questionable" albums, it is easily noticeable how they thrive off of it. All of these performers do have one thing in common, at one time or another, censorship made them victims because of their social unacceptable actions or the content of their music and lyrics. While censorship is slightly more realistic and open-minded (no more censoring performers from the waist down, like Elvis Presley on the Ed Sullivan show), it still affects listeners and their choice of music quite significantly. Although the government, music associations, and other various groups try censorship, the music a person chooses is still, and always should be, his choice. Some children are too young for the exposure to certain types of music. Albums containing sexually explicit lyrics depicting sexualacts in great detail are not good for young children to hear. Also, sexual content within the albums, as in their artwork, is unacceptable. For example, the Frankenchrist album by the Dead Kennedys, which portrays an extremely sexual painting by H.G. Giger, entitled Landscape #20: Where Are We Coming From (Wishna 444). Not to mention all the shows and concerts in which some kind of pornography is used or displayed that is inappropriate for younger kids, such as Billy Joe Armstrong, of Green Day, baring all for a concert of his in Philadelphia (Bernstein 95). Also, in Cleveland, a frustrated Courtney Love tore off her bra and screamed, "Now you know how I get all the guys," (Bernstein 95).

The Alcatel Lucent Merger

Running Head: THE ALCATEL-LUCENT MERGER ! The Alcatel-Lucent Merger-What went wrong? American Public University 1 THE ALCATEL-LUCENT MERGER ! 2 The Alcatel-Lucent Merger-What went wrong? Referring to the case and this chapter, discuss what conditions and negotiation factors pushed forth the merger in 2006 that were not present in 2001. In 1999, as the Internet boom was approaching its apex, Lucent Technologies was the world’s largest telecommunications equipment company (Lazonick & March, 2011). With revenues of $38. 3 billion, net income of $4. billion, and 153,000 employees for the fiscal year ending September 30, 1999, Lucent was larger and more profitable than Nortel, Alcatel, and Ericsson, its three major global competitors (Lazonick & March, 2011). Unfortunately for Lucent, as quickly as it rose to the top, it began to fall to the bottom. Lucent recognized, and so did its competitors, that something had to be done to sustain profitability in its market. In 2001, Alcatel of France, the communications equipment maker in Paris, and Lucent Technologies, the U. S. telecommunications giant, began negotiations for a merger of the two companies (Deresky, 2011, p. 76). In 2001, many communications companies began to see a fall in sales due to an internet crash. Companies like Lucent that were just years prior at the top of its game in the market were now quickly loosing sales and on the brink of bankruptcy (Lazonick & March, 2011). Creating a merger was a choice that Lucent had to again gain power and profitability, but mergers rarely go easily. As in this case there are two competitors attempting to come together and negotiate for a mutually acceptable agreement that affects the future of both companies and the employees.THE ALCATEL-LUCENT MERGER ! 3 By the mid-2000s it became evident that Lucent was faced with the choice of becoming merely a â€Å"niche† player in the communications technology industry or finding a partner to supplement its resourc es so that it could compete once again as a â€Å"full line† supplier. In May 2001, Alcatel and Lucent held initial merger talks with a view to creating a $50 billion global firm. A year earlier Lucent would have dominated such a combination. By May 2001, however, Lucent had already been severely damaged by the downturn in the telecommunications industry.In contrast, Alcatel sales and profits remained strong at the time of those merger talks. If the merger had gone through, Alcatel shareholders would have owned 58 percent of the combined company. It had been agreed that the new headquarters would be in Murray Hill, New Jersey and that Alcatel Chairman Serge Tchuruk would run the company. In the end, the 2001 merger failed when Alcatel insisted that because of its stronger position it would select 8 of the 14 board members, while Lucent Chairman Henry Schacht insisted that his company send two more members for an even split (Sorkin and Romero 2001).The 2001 merger was not succ essful because negotiations were not successful. For longterm positive relations, the goal should be to set up a win-win situation-that is to bring about a settlement beneficial to all parties concerned (Deresky, 2011, p. 152). Unfortunately, that was not the case with this merger. The two companies could not agree on how much control the French company would have. Lucent’s executives apparently wanted the deal as a â€Å"merger of equals,† rather than a takeover by Aslcatel (Deresky, 2011, p. 176).Furthermore, according to Deresky (2011), the negotiation process should encompass fives stages: preparation, relationship building, exchange of task-related information, persuasion, and concessions and agreement (p. 153). The entire negotiation process in 2001 had flaws. THE ALCATEL-LUCENT MERGER ! 4 Research the status of the merged company at the time of your reading this case. What has happened in the industry since the merger, and how is the company faring? In 2006, Alc atel was almost twice the size of Lucent in terms of revenues and employes when the merger that created Alcatel-Lucent took place (Lazonick & March, 2011).Since then, the merger has proven to be successful overall. To support this, in February 2013, a five year managed services agreement was announced by Alcatel-Lucent with KPN, the leading telecommunications service provider in the Netherlands (Mena Report, 2013). According to the report, Alcatel-Lucent will plan, design and implement an end-to-end solution to provide KPNs network with increased capacity, upgraded equipment, and best-in-class customer service processes.Alcatel-Lucent will also help KPN transform its existing multi-vendor voice and core networks enabling its customers to access and share multimedia content from wherever they are or using the device of their choice be it a smartphone, computer or tablet (Mena Report, 2013). Two years after the merger, Alcatel-Lucent University received a certificate of quality from t he European Foundation for Management Development, an honor bestowed on only 14 corporate universities throughout Europe (Alcatel-Lucent University, 2010).Evaluate the comment that the merger is â€Å"a giant transatlantic experiment in multicultural diversity. † What evidence is there that the company has run into cross-cultural problems since the merger took place in 2006? THE ALCATEL-LUCENT MERGER ! The comment was made because there were so many multicultural and diversity issues surrounding the merger. While Lucent was an American company that conducted its business within the borders of the United States, Alcatel was already a global business before the merger.Alcatel â€Å"already operated as an international company with a wide mix of nationalities† (Deresky, 2011, p. 176). The question was raised by many during the merger, â€Å"how will the merged company deal with cross-cultural conflicts? †, but Tchuruk said that, while cultural issues could arise, e verything is under way to make sure this human factor is dealt with (Deresky, 2011, p. 176). This statement of confidence was actually part of the reason why the merger was actually somewhat ironically poised with problems because there were indeed many problems related to multicultural diversity.Some of these problems included language barriers between members of the merged companies, their stockholders, and other stakeholders. Analysts quickly suggested that the corporate culture of Lucent clashed with Alcatel’s French business model (Deresky, 2011, p. 177). This was coupled with Russo’s inability to work well with Tchuruk and it soon became clear that it was a poor decision to appoint leaders based on their nationality rather than their skills. Russo was also the first woman to run a company listed on the CAC 40 in the male dominated world where French business and politics overlap (Deresky, 2011, p. 77). Chinese rivals were also at Alcatel-Lucent’s doorstep providing similar service and technology for less money. According to Deresky (2011), a Barron’s article in August 2008 noted that â€Å"while it might have been helpful if outgoing CEO Patricia Russo had spoken French, that’s not why she and Chairman Serge Tchuruk failed to make a go of the 2006 merger of Alcatel and Lucent Technologies (p. 177). 5 THE ALCATEL-LUCENT MERGER ! 6 How much of the decline do you attribute to leadership problems, as opposed to industry factors?I think the majority of the decline was attributed to leadership problems. The structure of the organization is only effective if the leaders within it are committed to achieving company objectives and working with each other as a team. They must perform their roles and responsibilities knowledgeably and creatively when necessary. The cultural change that was required to create an entrepreneurial sprit throughout the company began with executives being willing to relinquish some of their existing co ntrol to drive decision making downward through the organization.The purpose was to enable faster and better decisions and more competitive responses to market conditions and customer desires (Lazonick & March, 2010). What, if any, factors should have been negotiated differently? Just about everything should have been done differently during the attempted first merger in 2001, but both companies did learn a lot from that merger and they were better prepared in 2006, although still a far cry from being as ready as they should have been.The executives of both companies really did not take cultural values and differences into consideration as much as they should have and as it turned out they had a difficult time communicating with each other, not only due to language barriers, but also just because business was conducted so differently between the French and American cultures. THE ALCATEL-LUCENT MERGER ! 7 References Alcatel-lucent to transform KPN s fixed network operations in the ne therlands over next five years. (2013). MENA Report, Retrieved from http://search. roquest. com/docview/ 1313279184? accountid=8289 Alcatel-lucent university. (2010). Development and Learning in Organizations, 24(2), 31-32. doi: http://dx. doi. org/10. 1108/14777281011019515 Lazonick, W. , & March, E. (2011). The rise and demise of lucent technologies. Journal of Strategic Management Education, 7(4), 201-270. Retrieved from http:// search. proquest. com/docview/1015336210? accountid=8289 Sorkin, Andrew Ross, and Simon Romero, 2001, Alcatel and Lucent call off negotiations toward a merger. New York Times, May 30. The Alcatel Lucent Merger Running Head: THE ALCATEL-LUCENT MERGER ! The Alcatel-Lucent Merger-What went wrong? American Public University 1 THE ALCATEL-LUCENT MERGER ! 2 The Alcatel-Lucent Merger-What went wrong? Referring to the case and this chapter, discuss what conditions and negotiation factors pushed forth the merger in 2006 that were not present in 2001. In 1999, as the Internet boom was approaching its apex, Lucent Technologies was the world’s largest telecommunications equipment company (Lazonick & March, 2011). With revenues of $38. 3 billion, net income of $4. billion, and 153,000 employees for the fiscal year ending September 30, 1999, Lucent was larger and more profitable than Nortel, Alcatel, and Ericsson, its three major global competitors (Lazonick & March, 2011). Unfortunately for Lucent, as quickly as it rose to the top, it began to fall to the bottom. Lucent recognized, and so did its competitors, that something had to be done to sustain profitability in its market. In 2001, Alcatel of France, the communications equipment maker in Paris, and Lucent Technologies, the U. S. telecommunications giant, began negotiations for a merger of the two companies (Deresky, 2011, p. 76). In 2001, many communications companies began to see a fall in sales due to an internet crash. Companies like Lucent that were just years prior at the top of its game in the market were now quickly loosing sales and on the brink of bankruptcy (Lazonick & March, 2011). Creating a merger was a choice that Lucent had to again gain power and profitability, but mergers rarely go easily. As in this case there are two competitors attempting to come together and negotiate for a mutually acceptable agreement that affects the future of both companies and the employees.THE ALCATEL-LUCENT MERGER ! 3 By the mid-2000s it became evident that Lucent was faced with the choice of becoming merely a â€Å"niche† player in the communications technology industry or finding a partner to supplement its resourc es so that it could compete once again as a â€Å"full line† supplier. In May 2001, Alcatel and Lucent held initial merger talks with a view to creating a $50 billion global firm. A year earlier Lucent would have dominated such a combination. By May 2001, however, Lucent had already been severely damaged by the downturn in the telecommunications industry.In contrast, Alcatel sales and profits remained strong at the time of those merger talks. If the merger had gone through, Alcatel shareholders would have owned 58 percent of the combined company. It had been agreed that the new headquarters would be in Murray Hill, New Jersey and that Alcatel Chairman Serge Tchuruk would run the company. In the end, the 2001 merger failed when Alcatel insisted that because of its stronger position it would select 8 of the 14 board members, while Lucent Chairman Henry Schacht insisted that his company send two more members for an even split (Sorkin and Romero 2001).The 2001 merger was not succ essful because negotiations were not successful. For longterm positive relations, the goal should be to set up a win-win situation-that is to bring about a settlement beneficial to all parties concerned (Deresky, 2011, p. 152). Unfortunately, that was not the case with this merger. The two companies could not agree on how much control the French company would have. Lucent’s executives apparently wanted the deal as a â€Å"merger of equals,† rather than a takeover by Aslcatel (Deresky, 2011, p. 176).Furthermore, according to Deresky (2011), the negotiation process should encompass fives stages: preparation, relationship building, exchange of task-related information, persuasion, and concessions and agreement (p. 153). The entire negotiation process in 2001 had flaws. THE ALCATEL-LUCENT MERGER ! 4 Research the status of the merged company at the time of your reading this case. What has happened in the industry since the merger, and how is the company faring? In 2006, Alc atel was almost twice the size of Lucent in terms of revenues and employes when the merger that created Alcatel-Lucent took place (Lazonick & March, 2011).Since then, the merger has proven to be successful overall. To support this, in February 2013, a five year managed services agreement was announced by Alcatel-Lucent with KPN, the leading telecommunications service provider in the Netherlands (Mena Report, 2013). According to the report, Alcatel-Lucent will plan, design and implement an end-to-end solution to provide KPNs network with increased capacity, upgraded equipment, and best-in-class customer service processes.Alcatel-Lucent will also help KPN transform its existing multi-vendor voice and core networks enabling its customers to access and share multimedia content from wherever they are or using the device of their choice be it a smartphone, computer or tablet (Mena Report, 2013). Two years after the merger, Alcatel-Lucent University received a certificate of quality from t he European Foundation for Management Development, an honor bestowed on only 14 corporate universities throughout Europe (Alcatel-Lucent University, 2010).Evaluate the comment that the merger is â€Å"a giant transatlantic experiment in multicultural diversity. † What evidence is there that the company has run into cross-cultural problems since the merger took place in 2006? THE ALCATEL-LUCENT MERGER ! The comment was made because there were so many multicultural and diversity issues surrounding the merger. While Lucent was an American company that conducted its business within the borders of the United States, Alcatel was already a global business before the merger.Alcatel â€Å"already operated as an international company with a wide mix of nationalities† (Deresky, 2011, p. 176). The question was raised by many during the merger, â€Å"how will the merged company deal with cross-cultural conflicts? †, but Tchuruk said that, while cultural issues could arise, e verything is under way to make sure this human factor is dealt with (Deresky, 2011, p. 176). This statement of confidence was actually part of the reason why the merger was actually somewhat ironically poised with problems because there were indeed many problems related to multicultural diversity.Some of these problems included language barriers between members of the merged companies, their stockholders, and other stakeholders. Analysts quickly suggested that the corporate culture of Lucent clashed with Alcatel’s French business model (Deresky, 2011, p. 177). This was coupled with Russo’s inability to work well with Tchuruk and it soon became clear that it was a poor decision to appoint leaders based on their nationality rather than their skills. Russo was also the first woman to run a company listed on the CAC 40 in the male dominated world where French business and politics overlap (Deresky, 2011, p. 77). Chinese rivals were also at Alcatel-Lucent’s doorstep providing similar service and technology for less money. According to Deresky (2011), a Barron’s article in August 2008 noted that â€Å"while it might have been helpful if outgoing CEO Patricia Russo had spoken French, that’s not why she and Chairman Serge Tchuruk failed to make a go of the 2006 merger of Alcatel and Lucent Technologies (p. 177). 5 THE ALCATEL-LUCENT MERGER ! 6 How much of the decline do you attribute to leadership problems, as opposed to industry factors?I think the majority of the decline was attributed to leadership problems. The structure of the organization is only effective if the leaders within it are committed to achieving company objectives and working with each other as a team. They must perform their roles and responsibilities knowledgeably and creatively when necessary. The cultural change that was required to create an entrepreneurial sprit throughout the company began with executives being willing to relinquish some of their existing co ntrol to drive decision making downward through the organization.The purpose was to enable faster and better decisions and more competitive responses to market conditions and customer desires (Lazonick & March, 2010). What, if any, factors should have been negotiated differently? Just about everything should have been done differently during the attempted first merger in 2001, but both companies did learn a lot from that merger and they were better prepared in 2006, although still a far cry from being as ready as they should have been.The executives of both companies really did not take cultural values and differences into consideration as much as they should have and as it turned out they had a difficult time communicating with each other, not only due to language barriers, but also just because business was conducted so differently between the French and American cultures. THE ALCATEL-LUCENT MERGER ! 7 References Alcatel-lucent to transform KPN s fixed network operations in the ne therlands over next five years. (2013). MENA Report, Retrieved from http://search. roquest. com/docview/ 1313279184? accountid=8289 Alcatel-lucent university. (2010). Development and Learning in Organizations, 24(2), 31-32. doi: http://dx. doi. org/10. 1108/14777281011019515 Lazonick, W. , & March, E. (2011). The rise and demise of lucent technologies. Journal of Strategic Management Education, 7(4), 201-270. Retrieved from http:// search. proquest. com/docview/1015336210? accountid=8289 Sorkin, Andrew Ross, and Simon Romero, 2001, Alcatel and Lucent call off negotiations toward a merger. New York Times, May 30.

Greasy Lake

The Difference Between, Story and Song In the story and the song, what is too be learned? The story and the song are different in so many ways. The story has a dark side to it and it is not all fun and games anymore. The boys in the story get hurt and scared. The song on the other hand has a lighter touch to it. The boys are having a great time and living it up. They do not focus on the next day just what is going on at the time. They both show how teenagers can be irresponsible and not have a care in the world. They also have their unique qualities to the story they tell.The setting in the story had a dark side to it. It was all fun and games as they rode around town, got drunk and smoked weed. Then they decided to go to Greasy Lake. They thought they saw their friend and started honking to give him a hard time, but they were wrong. Everything thing went downhill from there. The guy that owned the car was mad and it started a huge fight. This shows darkness by it being late so every one is out that should not be and there fighting someone could have got killed. The main character had lost his keys and could not find them so that they could get away.Jeff and Digby, friends of the main character, were fighting the guy that owned the car; the main character went for the tire iron under the seat of his own car. He thought, â€Å"I kept it there because bad characters always keep tire irons under the driver’s seat, just for an occasion like this† (127). He got the tire iron and hit the guy over the head with it and he hit the ground. Everyone just froze and stared for a minute. This is one example of how the story is dark and what could happen; no one got knocked out in the song. Then a girl came around the car yelling, â€Å"animals† (128).The boys just stared and lusted of her. Then they started tearing her clothes off and were trying to pin her to the hood of the car. This is a dark point in the story because they were going to rape the girl. Before they could do it head lights peered into the lot. The boys took off running. They were friends of the guy they had knocked out. The girl was screaming, â€Å"it is them they tried to rap me† (129). They guys chased they boys through the woods. They boys all separated in different directions. The main character had plunged into the lake and just as he started to swim he hit something.He said it was, â€Å"unspeakable, obscene, something soft, wet, moss-grown† (129). He figured out it was a dead body floating in the water. The boys where hanging out where bad characters go, that body in the water could be them one day. He had to stay there and hide for a while though. They boys finally met back up after the other guys left and the car was ruined. The windshield smashed in, dented all over and trash thrown into the car. He found the keys and two girls pulled up looking for the dead guy. They got out of that and got out of there, they were scared they were going to jail and just wanted to go home.The song has a lighter setting to it. The boys are cruising around town having the time of their lives. They go around and pick up all of their friends and head to Greasy Lake. The song lyrics say, â€Å"I got a bottle of rose so let's try it and I'll take you all out to where the gypsy angels go, They're build like light And they dance like spirits in the night† (Spirit in the Night). They just want to have a good time and go out with their friends to the lake. There was some fighting in the song but not as graphic as in the story. The boys were just dancing under the stares all night.The song lyrics said, â€Å"And we danced all night to a soul fairy band† (Spirit in the Night). The boys did not try to rape anyone like they did in the story, but they were making love under the stares. The song lyrics say, â€Å"Me and Crazy Janey was makin' love in the dirt, Singin' our birthday songs† (Spirit in the Night). They did not have a care in the world. Also they were not running from anyone and finding dead bodies in the lake. They were all drunk or high and going out for a good time. Both the song and the story talk about rout 88. That’s the way to greasy lake.I think the song is meant for just going out and having a good time. It leaves out all the bad things that could happen. The song is like a dream the story is more of a reality. In that kind of situation: getting drunk and smoking weed, normally always something goes wrong. In the song it is all fun and games and a little fighting. It is mostly just dancing under the stares, drinking, smoking, and making love. The song lyrics say, â€Å"Now, the night was bright and the stars threw light, On Billy and Davy dancin' in the moonlight† (Spirit in the Night).This is a sugar coated version of the story. The story has a darker side to it. People are fighting and getting knocked out. There was an attempted rape and dead bodies floating in the water . The song and the story are completely different. The boys in the story were scared that they might go to jail for all the stuff they have done. In the song they did not have a care in the world. Also in the story the boys tried to act like they were bad characters and were mean and did all this stuff. When really they were just young teenagers who really did not understand it.They were foolish and just wanted to act like they were cool. They really had no idea what it meant to be that way until that night a greasy lake. The main character thought, â€Å"I wanted to go home to my parent’s house and crawl into bed† (131). What I learned from the story and the song are opposite. The boys in the story think they are these cool bad characters. In reality they just wanted to act that way. They had no idea what it was like to really be that way until they got in the fight with that guy and his friends showed up.The song has a more upbeat tone to it. It shows them having a g reat time and getting along for the most part. I like the fact that they portray different stories though. It makes it more interesting and gets you thinking. Works Cited Boyle, Coraghessan. â€Å"Greasy Lake. † Literature: An Introduction to Fiction Poetry, Drama, and Writing, 11thedition. Ed. X. J. Kennedy and Dana Gioia. New York: Longman, 2010. 125-132. Print. Springsteen’s, Bruce. â€Å"Spirit in the Night. † Greetings from Asbury Park. Clive Davis, 1973. CD.

Computer and American Culture essays

Computer and American Culture essays How the Computer Has Changed American Culture When trying to envision the world of today without computers, I imagine that our lifestyles would be extremely different. As exciting as technological developments may be...it is important to remember that people who lack the skills or the machines to tap into this information are in the same position as those a century ago who could not read or had no access to books (240). These new technologies have undoubtedly altered our sense of what it means to be literate (239). Years ago, being educated simply meant that you could read and write. Today one must go through years of formal schooling to be considered scholarly. This is because, Our sources of information have become much more diverse than they were even a generation ago, (239). Early in the century, being able to read and write was a skill that only the wealthy could attain. Those without the ability to read and write were typically poor and powerless. As education became available to nearly all of America, the amount of education past high school was the key to wealth and power. Today, information and the skills to access information are past becoming linked to success. This is in part because of the computer, which recently celebrated its 50th anniversary. Those without computer skills in the future will be left behind, powerless. I can still remember the excitement that I felt the first time I placed my hands on a keyboard. As Neil Postman states, What is peculiar about such interpositions of computers is that their role in directing what we will see or know is so rarely noticed, (247). Throughout this paper, I will examine the advancement of inventions, work ethics, jobs, and how the computer has changed these to make our lives easier in some ways, but more complex in others. Following the development of computers, American culture underwent vast and fast-paced changes. These new ma...

MicroEconomics Essay Example | Topics and Well Written Essays - 500 words - 1

MicroEconomics - Essay Example This type of monopoly emerges due to natural advantages like abundant mineral resources, good location and so on. For instance, Gulf nations have monopoly in the exploration of crude oil as a result of plenty of natural oil resources (Mankiw & Taylor, 2006).   It also occurs when it is financially impractical or impossible for many companies to engage in a business, for example, when it requires large investments of capital that other companies cannot raise (Tucker, 2011). This occurs when the government passes laws and regulations that reserve a particular trade, services or goods for government agencies (McKenzie & Lee, 2006). For instance, many governments are in charge of running water. Occurs when multiple businesses or firms combine or amalgamate, for example, a combination between competitors like Burger firm and Pizza firm leads to join monopoly thus reducing competition (Tucker, 2011). Monopolies exist so as to dominate the market place by controlling the pricing of a specific product. This is due to lack of economic competition because such a firm controls a significant volume of the market. It also exists due to high overhead cost which discourages other firms (Tucker, 2011). For instance, it requires a high overhead cost to construct power lines from scratch and acquire necessary equipment to generate power, making power company a monopoly. c) Intellectual property protection- extension of patents and copyrights to businesses by the government give them the right of being the sole provider of that new product thus creating a temporary monopoly (Mankiw & Taylor,

Operational Risk Management of xx company Essay

Operational Risk Management of xx company - Essay Example But due to the worldwide credit crunch of 2007-08, the Lehman Brothers has resulted in a tremendous downfall. On September15, 2008, it filed for Chapter 11 bankruptcy, condemned to become the biggest bankruptcy filing in U.S. history and caused a downfall of the world’s financial system (Lounsbury and Hirsch, 2010, p.71). The federal government decided to not bail the company. The firm’s share fall more than 90% and shook financial stocks. The bankruptcy was mainly due to the sub-prime mortgage crisis. However, there were other factors also that were responsible for the failure of the company such as: the overall culture of the company, the tools they utilized and the risk management department. Lehman Brothers overleveraged themselves while not preserving the minimum capital required, depending on risk tools in isolation (Alman, Cudmore, and McVeigh, 2013, p.1). The company has obtained huge amounts of subprime mortgage debt and also the lower rated assets. In 2007, de spite the fact that the Lehman Brothers had closed its subprime mortgage division, it had uphold much of its subprime mortgage liability, therefore resulting in huge losses from the collapse of the subprime market. Its bankruptcy caused the investors to lose millions (Ferrell, Fraedrich and Ferrell, 2011, p.403). Lehman Brothers are exposed to various types of risk such as market and credit risk, counterparty risk, liquidity risk, country risk, operational risk and foreign exchange risk. This report will focus how they are exposed to these various types of risks, what are the threats of these risks and how they will manage these risks. Identification of Risk and Analysis of Threats Risk is the change or probability of a deviation from an anticipated outcome. In order for risk to be present there should be exposure and uncertainty. Risk is measured with the use of risk measurement framework and process (Hays and et al, 2005, p.3). It arises due to various causes such as macroeconomic or external shocks, for example foreign exchange crisis or liberalization-induced credit booms (Bank and Fund, 2005, p.213). Market, Counterparty and Credit Risk The Lehman Brothers was exposed to market counterparty and credit risk through the sudden collapse of its total return swap counterparty. The firm’s share also fall more than ninety percent due to market risk and shook financial stocks. It has been exposed to credit risk which has arisen from derivatives transactions and it has been revealed with the bankruptcy of this firm and has resulted in the credit default swap market. Loss due to credit risk has resulted in decline in the creditworthiness of borrower. During bankruptcy, the total notional value of credit default swap (CDS) trades indicating Lehman Brothers was around USD 72 billion. This has caused bilateral payments of USD 21 million among buyers and sellers of credit default swaps that allusion Lehman Brothers based on auction determined payments. Due to th e firm’s bankruptcy, this was the credit loss for the sellers of the CDSs. For the buyers, this amount signifies their

Put and Call options Research Paper Example | Topics and Well Written Essays - 500 words

Put and Call options - Research Paper Example In the call option the security deposit is allowed to take a certain commodity at a certain price if one chose to. On the other hand the put option has got an insurance policy that protects the commodities against loss in value. When it comes to motivations the buyer of the call option hopes to the price of the underlying product will go up but the seller of the call option hopes for it to go down. The buyer of the put option is advantaged if the prices went down. This is to prevent the risk that is limited to the premium. When it comes to the profits the buyer of the call option hopes that he will make a profit by buying stocks for less than their rising value. The seller of the call option hopes to make profits when the stock prices go down or if the prices go high below the price the buyer pays for creating the call option. When it comes to the put option the buyer is advantaged when the put option expires with the stock price above the strike price. Sellers In the put option make profits if the stock price falls below the strike price. Call options shows how options trading are high risk, high reward by contrasting buying call options with buying stock. Both require the investor to believe that the stock price will rise. However, call options give very high rewards compared to the amount invested if the price appreciates wildly. The downside is that the investor loses all her money if the stock price does not rise well above the strike price (Sheeba 136).

You Might Forgive, but Forgetting is not Always Possible Essay Example for Free

You Might Forgive, but Forgetting is not Always Possible Essay There are many different responses to this statement, and different people hold different opinions, both for and against it. I agree with the statement, because Christians are taught that to sin is human, to forgive is divine, proving that it is difficult even to forgive, never mind forget. An argument in favour of the statement is, as human beings, we do not possess the capability to completely wipe out memories from our minds, no matter how hard we may try. Also, memories involving pain and suffering are nearly always fresh in our minds, and it is the thoughts of this kind that we are told to forget, which is extremely difficult, and very rarely possible. see more:to forgive is divine In addition, some sins are so serious that to simply forgive and forget is not an option. Even Jesus himself enforced this point, when he told his disciples that one of them was going to betray him. He used the words it would have been better for this person had they never been born, which may sound a cruel thing to say, but what Jesus really meant was that it was going to be difficult to forget what Judas was about to do to him. Another point strongly agreeing with the statement is, human beings can learn from their mistakes, and if sins and crimes were erased from our memories we would never learn. This is true, as we are not perfect, and we need to learn from our mistakes in order to make ourselves a better person. On the other hand, it could be argued that forgetting is central to the forgiving process, and true forgiveness involves being able to move on and forget what was done in the past. If people keep bringing up what has been done in the past, and dwelling on it, then this suggests that forgiveness has not truly been granted, therefore, reconciliation does not occur. Also, by refusing to forget what has been done, a person becomes consumed with regret, bitterness and anger, all of which are all destructive characteristics resulting in their lives becoming focused on mourning and revenge, and the motivation and ability to move on is lost. Constantly reminding someone of past feelings is un-Christian behaviour. In conclusion, I believe that it is possible for a person to forgive, but I agree that it is not always possible to forget what they have done. Are we supposed to forget every time a person sins? Maybe we can forget the odd venial sin, but what about mortal sins, like somebody killing someone close to you? It is just not possible to forgive and forget about somebody who commits mass murder such as Myra Hindley, and we know that a victims mother, Anne West, can never forgive what Myra Hindley did to her daughter, and cannot bring herself to say the words, forgive us our sins, as we forgive those who trespass against us, in the Lords Prayer. As Christians we all do our utmost to forgive and forget none of us are without sin, let those who have committed no sin cast the first stone.

The Development Mechanism And Trading Of Sukuk Bonds Finance Essay

The Development Mechanism And Trading Of Sukuk Bonds Finance Essay A Sukuk bond is an Arabic word for financial investment certificates, or sometimes can be refer as Islamic bonds. It is the famous element in the Islamic Finance among the Muslim and non-Muslim. Other than that, sukuk also refer to trust certificates and participation securities. Moreover, it is one of the fastest growing tools in the Islamic capital market that triggered the desire of research and writings of many researchers and scholars, as a result of which is the existence of many academic writings and publications [1]. It has become one of the most dynamic tools for capital mobilization in both the Islamic and conventional capital markets (2007, Umar). For your information, base on their Islamic law, it is not allowed fixed income and interest bearing bond. After that, Islamic Finance comes out the sukuk bonds to fulfill its investment principles, which is charging or paying the interest. Besides that, it is similar to the financial bonds in the conventional bank, which are proof of ownership title to the investor and utilized by financial institution to raising the fund. For both conventional bonds and sukuk bonds are structured to generate revenue on the physical assets. However, the differentiation between both bonds is sukuk bonds can be consider as modern application of Islamic financial. Malaysias fully experience and concrete fundamentals in Islamic finance developed over 30 years, tied with its strength in the domestic sukuk market, offers strong exciting value propositions to government agencies, multinational corporations and multilateral development banks or financial institutions across the world to originate sukuk out of Malaysia.  Malaysia leads the global sukuk market, represented by 61% of total sukuk outstanding at the end 2008.2 Development of Sukuk Bonds What is Sukuk? Sukuk is an Islamic financial certificate bond but it refuted to conventional bonds, which is debt based instrument and Sukuk is asset based instrument. Sukuk securities adopt the Islamic laws referred to as Shariah and it own principles, Islamic religious law, which no all interest can make and its forbid the charging or payment of interest such as fixed income, interest bearing bonds are not permissible in Islam . Sukuk instruments are like a middleman or a bridge to issuers, primarily sovereigns and corporations in other foreign countries such as in the Middle East and Southeast Asia, with a large pool for investor to finding diversify their holdings beyond traditional asset classes. In Sukuk market, fund raised can classified in two way which is an efficient and transparent way in over 100 non-member countries in the world. Diagram 1: Different between conventional financial and Islamic financial Selected Historical Highlights Key Highlights in Malaysias Islamic Capital Market: 1990: Issuance of first Islamic Corporate bond by Shell MDS Sdn Bhd 1993: Launch of first Islamic Equity unit trust fund by Arab-Malaysian Unit Trust Bhd 1994: First full fledged Islamic stockbroking company, BIMB Securities, was established 1999: Launch of the KLSE Syariah Index 2000: Launch of the first Islamic bond fund by RHB Unit Trust Management 2001: Issuance of the worlds first Global Sukuk by Kumpulan Guthrie Source: Bloomberg (based on Sukuk issued out of new and existing programmes for the YTD ) Global vs Malaysia Sukuk Issuances 2005- 1H20112002: Issuance of the worlds first Global Sovereign Sukuk Figure :Global vs Malaysia Sukuk Issuances 2005- 1H2011 In 2005 to first half of 2011, global Sukuk market and Malaysia Sukuk market was faced few economic growth and crisis, therefore it was effect issued Sukuk bond. Based on the data, Malaysia Sukuk market doesnt showed significant growth compared with global Sukuk market between 2005 to first half of 2011. However Malaysia Sukuk market looks more stable than global market. In 2008, global Sukuk faced financial meltdown, it is global financial crisis and the Dubai debt woes, therefore it dropped from US$31 billion to US$14.2 billion, dropped around 54%. Besides that, Malaysia Sukuk market also dropped, but the dropped amount lower than global market, around 41%.Apart from that, in 2009 Malaysia Sukuk market of the total Sukuk issuance growth around 31%, it was showed those investor have confidence to Malaysia Sukuk market. http://biz.thestar.com.my/archives/2009/9/9/business/p8-sukukcht.JPG Figure 2:Sukuk issuance by country in 2009 In 2009, Malaysia is the largest country issuer Sukuk bond compare with Indonesia, Sausi Arabia and Bahrain.Malaysia almost having around 45% of issuer Sukuk bond. The second largest is Saudi Arabia, they has around 22% for issuer Sukuk bond. Figure 3 Malaysia: Outstanding Sukuk vs. Bonds In this several years, Sukuk continues growth but compare with normal bond, amount of outstanding Sukuk still lower than bond. In 2011, Sukuk still not famous for the investor or issuer therefore the number was just had small amount for the outstanding Sukuk. Besides that, between 2001 and 2007 the amount of outstanding Sukuk was growth significantly. In 2007, outstanding Sukuk was catching up the normal bond and after year 2007 outstanding Sukuk still having a positive growth in the market. This three chart showed that investor have confidence with Malaysia Sukuk market because it has its potential. In 1990s, Malaysia already had a powerful and transparent Islamic structure. Other than that, Malaysia also do more effort to promoted to foreign investor show that Malaysia is an international Islamic financial hub and had recognized by worldwide and continues lead at the front of the development of Sukuk bond. The strength of Sukuk is lies in its own unique framework. Sukuk can carry distinct value position to issuers and investors. The Sukuk growths rapidly because had few factors. 1. Structure growth sophistication. Sukuk have a good superiority which is it had the flexibility of Sukuk structure to lead its growth continuously and it also can meet the requirement and preferences of investor and issuers by tailored suitable Sukuk to them. Now a day, Malaysia have more than a types of Sukuk in the market such as profit and loss sharing (Musyarakah), cost plus financing (Murabahah), deferred payment (Al-Bai Bithaman Ajil), leasing (Al-Ijarah), agent(Al-Wakalah) and so on to wider range of investors. Figure 4: Type of Sukuk apporeved in Malaysia In 2011, Malaysia has few types of Sukuk approved in Malaysia Sukuk market and types of Sukuk in Malaysia market can classified to Contracts of participation and exchange. Contracts of participation are such as Mudharabah Sukuk and Musyarakah Sukuk. Contracts of exchanges are such as Murabahah and Ijarah. The largest number of investor invest is Musyarakah, the number is around 63% in Sukuk market. The second largest is Ijarah, its around 15% in Sukuk market. 2. Clarity on the regulatory treatment. Excellent regulatory treatment in Sukuk structure has provided regulatory certainty to Islamic financial institutions with regard to their investments.The adherence of the Capital Adequacy Standard was accomplish and issued by the Islamic Financial Services Board (IFSB) 3. Strategic centralize to develop overall Islamic financial system. Every investor or issuers have it own demand or requirement therefore Sukuk can base on each investor or issuers to choice suitable own Sukuk to themselves. For example, in takaful operators the investors can choice medium or long-term liabilities of takaful funds. 2.1 Introduction to Mechanism of Sukuk Bond Sukuk bond is one of the Islamic financial products which grow rapidly nowadays. It is generally known as Shariah compliant  [1]  bond as it is structured according to the Islamic principles. The Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) has defined sukuk as the certificates of equal value that represent an undivided share in the ownership of the underlying asset, usufruct, services or investments in particular projects or special investment activities. (Institutions, 2008) Besides, sukuk bond also can be described as an asset-based investment because the investor which is the sukuk holder owns the undivided interest in the underlying asset even if bad situation occurs. Sukuk bond is not a debt certificate, hence, the claim of sukuk bond is not just a claim to cash flow but it also represents the ownership claim on a pool of underlying assets. However, under the various types of sukuk which structured based on different Islamic principles, the investor has different rights and obligations. When the sukuk is represent the ownership of the underlying asset such as Ijarah sukuk, the investor can claims not only on the underlying asset. But, at the same time, it can be claimed against the cash flow and revenues generated from the sale of the asset. Besides, for the sukuk which issued as the sale of asset-based through the contract of exchange such as the Murabahah and Istina sukuk, the investor has the rights to claim against the cash flow from the contract of exchange but not on the physical asset. This is due to the transfer of ownership which is now to the obligator. On the other hand, for the type of sukuk which provide funds for projects such as Musyarakah sukuk and Mudharabah sukuk, the investor has the rights on the undivided interest in the specific investments. The difference in both of this sukuk is just that the musyarakah sukuk holder shares both the profit and loss however the mudharabah sukuk holder share only the profit while loss will not be sharing. (Bank Negara Malaysia and Securities Commission Malaysia, 2009) Therere many types of sukuk bond which is structured based on various approved Islamic concepts and principles. Among the 14 types of sukuk which are identified by AAOIFI, the most common sukuk included Ijarah sukuk (leasing of specific assets) and the Musyarakah sukuk (profit loss-sharing scheme). Therere also other types of sukuk which included Murabahah sukuk (cost-plus sale), Istina sukuk (project finance), Mudharabah sukuk (profit-sharing), Salam sukuk, Hybrid sukuk and so forth. In the end of October 2011, Musyarakah sukuk leads the biggest proportion among the various types of sukuk bond which is 59%. It then was following by Ijarah sukuk (13%), Murabahah sukuk (10%), Mudharabah sukuk (9%) and Wakalah sukuk (9%). (Team, 2012) 2.2 Similarities and Differences between Sukuk Bond and Conventional Bond Sukuk bond shared some similar characteristics with the conventional bond. For instances, both of these bonds have a fixed term maturity, can bear a coupon and are tradable on the normal yield price. Besides, both of the sukuk bond and conventional bond have similarities in the following features: marketability, rate ability, enhance ability and also the versatility. (What is Sukuk?) Both of them are liquid instruments, therefore can be easily transferred and tradable in the financial markets. Furthermore, both of these bonds are structured based on the assets that generate revenues. The revenue generated from the underlying asset is the source of income to pay for the profit on the sukuk bond. (Bank Negara Malaysia and Securities Commission Malaysia, 2009) However, there still have differences among the sukuk bond and the conventional bond. First of all, conventional bond is structured in such a way that the interest is the main point of all those transactions. The issuance of conventional bond is based on the exchange of paper and it doesnt represent the ownership of conventional bondholders in the enterprises that issue the bond. Rather, it represents the interest-bearing debt owed to the conventional bondholders. Consequently, the issuer of conventional bond has the contractually obligation in paying the interest and also the principal to the bondholders on a specific date. On the other hand, sukuk bond is structured in a way that the issuance is based on the exchange of an approved asset. Because of the prohibition of interest charging by Islamic law, sukuk bond allows the sukuk bondholders to claim an undivided ownership in the underlying asset and share the revenues generated from the underlying asset. Furthermore, sukuk bond is different with conventional bond due to its asset-based features. When the situation occurs where the issuer of conventional bond is unable to pay for the debt they owed to the bondholders, the bondholders which is the investors will face a great loss on their investments. This is because the contract usually doesnt guarantee that the asset can be secured and be used to recover at least partial of the investments. However, for sukuk bond, because it is asset-based and the sukuk bondholders have undivided ownership on the underlying asset, even how bad the situation, the investors can claim against major part of their investment. Hence, the sukuk bondholders are more protected from this kind of risk compared to the conventional bondholders. Besides, the issuance of sukuk bond must compliant with the Islamic law in its nature and use. However for the conventional bond, it can be issue for almost any purposes as long as it is legal under jurisdiction. Next, for the sukuk bondholders, the expenses that related to the underlying asset may be attached to them while the conventional bondholders are not responsible in these asset-related expenses. 2.3 Benefits of Sukuk Bond Sukuk bond which structured compliant with the Islamic law have the following benefits. First of all, it acts as a tool for banks and Islamic financial institutions in liquidity management. (Benefits of Sukuk) When the bank and financial institutions have excess amount of liquidity, they can use these excess money to purchase and invest in sukuk bond. Meanwhile, when theyre in the need of liquidity, they can choose to sell their sukuk bond through the secondary market. This clearly shows the features of sukuk bond which is liquid and hence can be easily traded in the financial market. Besides, sukuk bond provides a way in raising funds. It allows the corporate to raise funds through the issuance of sukuk bond. However, the sukuk bond can only be issue for any purpose that complaint with Islamic law. Furthermore, due to the asset-based feature of sukuk bond, it offers a lower risk and hence reduces the cost of financing. This is because even when bad situation happen to the issuer of sukuk bond, the investors can claim against the ownership on the underlying asset and get recover from major partial of their investment. 2.4 Sukuk Guidelines Starts from 1 July 2000, any issuance, offer or invitation of sukuk has to get approval from the Securities Commission Malaysia (SC) under section 212 of the Capital Markets and Services Act 2007 (CMSA)  [2]  (Malaysia S. C., Introduction, 2011) The following information are the guidelines which stated by Securities Commission Malaysia (SC) and effective from 12 August 2011 (Malaysia S. C., 2011). Any corporation that wishes to issue, offer or make an invitation of sukuk has to first appoint a principal adviser who specified by the SC in the Principal Adviser Guidelines. The purpose of appointing a principal adviser is to help the corporation to seek approval from SC for the proposed issue, offer or invitation of sukuk. (Malaysia S. C., Issuers Submission of Proposals, 2011) Therere a set of documents and a declaration letter that SC requires the issuer to submit through the principal adviser. These documents and the declaration letter are needed to obtain the approval from SC. (Malaysia S. C., Appendix, 2011) Two hard copies and one electronic copy of these documents should be submitted. Within 14 working days after SC receives the required documents and declaration letter, SC will either grant its approval or reject the proposal which doesnt fully follow the guideline. Once the issuer obtains the approval from SC, they should submit another set of documents (Malaysia S. C., Appendix, 2011) to SC through their principal adviser. (Malaysia S. C., Documents and Information Required, 2011) Besides, the issuer is required to conjunct with the principal adviser in appointing a Shariah adviser to make sure that the documentation, structure and the mechanism of sukuk are following the Islamic law. Therere plenty of Shariah rulings that have to follow for all types of sukuk as well as some specific type of sukuk in the requirement of underlying asset, asset pricing, compensation and so forth. (Malaysia S. C., Appointment of Shariah Adviser Shariah Rulings Applicable, 2011) Meanwhile, the underwriting of any issue, offer or invitation of sukuk will depends on the decision of the issuer. (Malaysia S. C., Underwriting, 2011) The implementation time frame for sukuk issuance is within one year from the date of the approval of SC except for the case of shelf registration scheme which must be implemented within two years. (Malaysia S. C., Implementation Time Frame for Sukuk Programme or Sukuk Issuance, 2011) 2.5 Sukuk Market in Malaysia From the journal, we know that the sukuk market has been developed rapidly in this decade with the evidence that more than 50% of Malaysias bond market belong to the sukuk market. Sukuk market in Malaysia successfully attract the attention of international corporations and multilateral agencies and drawn a lots of participation of these parties in raising funds and as well as investing in the sukuk market. Moreover, sukuk market of Malaysia is now having continuous innovation such as it offers the chance for international corporations to participate and plays a role in our Islamic financial system. As mentioned before, there have a greater development compared to the beginning of Malaysias sukuk market which our country started with a RM125 million of issue size by Shell MDS Sdn. Bhd.. The improving development once again can be clearly proven by the shoot up of the value of sukuk issue which is at RM15.4 billion by the Binariang GSM Sdn. Bhd. Besides, Malaysia is the fastest growing country in the global for the area of sukuk market with 22% of average annual growth within the period of 2001 until 2007. Therere a lots of efforts that has been put in the sukuk market to enhance its stability. First of all, to ensure the financial stability, Malaysia had cooperated with several regulatory authorities and participates in Islamic Financial Services Board (IFSB), Islamic Financial Stability Forum (IFSF), Islamic Development Bank (IDB) and also involve itself in the International Islamic Liquidity Management Corporation (IILM). Besides, the introduction of new type of financial instruments which has the extended maturity profiles has brought the Malaysias sukuk market to become more innovative. This is because it increases the diversity of both local and foreign participants and also meets the requirements of both issuers and investors so that there will be a win-win situation. Meanwhile, the increasing number of issuance in foreign currency had successfully extended the international gateway and attracts the participations from foreign countries in Malaysias sukuk market. This in turns s peed up the development of our sukuk market and also facilitate a good relationship with the international financial markets. The development of Malaysias sukuk market brings the economy to become more diversified and more driven by the private sector than the government. This is shown by the increasing demand for the financing requirements from private sector compared to the market which is previously mainly control by the Government debt securities. In a nut shell, Malaysia leads the development of sukuk market not only in terms of total sukuk issuance which accounted 68.9% of total global outstanding at the end of 2007, but at the same time showed excellent performance in the innovative sukuk structure and is more competitive in attracting the investors. In the future, Malaysia will continue its efforts to enhance the relationship with others international financial markets through ways such as partnership or maybe cooperation. (Technology, Sukuk Market in Malaysia, 2011) 2.6 Challenges of Sukuk Market According to the journal, we understand about few challenges that occur in sukuk market. First of all, the sukuk market faced the problem when there is lack of uniformity in the procedures that applied Shariahs principles. The lack of professional in Shariah standards and also the lack of awareness of the employers and manager of sukuk even make the things worse. Besides, when it comes to the collaborations among the countries, things become challenges because each country has their own laws and some of their laws will conflict with Islamic financial system and has to be amending in order to operate the system. Furthermore, therere still occur the gap of knowledge even though AAOIFI, Central Bank of Malaysia and also other organizations have put efforts in distributing the information to the public. Therefore, more focus have to put at the information dissemination through ways such as forums, training as well as set up more education center. Last but not least, it is difficult to maintain the unique features of sukuk. This is because those who already get used with the characteristics of conventional products will tend to request for the products which has the same characteristics with conventional products. This in turns will neglect the identity of the unique sukuk bond. (Technology, Challenges in Sukuk Market, 2011) Trading of Sukuk Market in Malaysia Between these ten years, the institutional arrangements particular gave a greater focus to develop the sukuk market. The sukuk market now accounts for more than fifty percent of Malaysias bond market. The market has drawn the participation from a wide range of international corporations and multilateral agencies in raising funds and investing in the sukuk issuances out of Malaysia. More lately, there has also been continuous innovation and an increasing number of issuances in foreign currency. As Malaysia offers international participation in the Islamic financial system, also offer to be an international gateway, particularly in strengthening the link between the two important dynamic growth regions of Asia and the Middle East. (Zeti Akhtar Aziz, 2010) Shell MDS Sdn. Bhd. started Malaysias sukuk market with a simple issue size of RM125 million in 1990 and is growing in size and increasingly sophisticated now. This development is evident in the largest sukuk issue recently valued at RM15.4 billion which is USD4.7 billion by Binariang GSM Sdn. Bhd. Now, the sukuk market in Malaysia with an average annual growth of 22% issued for the period 2001-2007 is among the fastest growing in the world. Malaysia has continued it success by introducing innovative sukuk structures such as convertible sukuk musyarakah by Khazanah Nasional Berhad, the Malaysian government investment holding company after introducing the first sovereign global sukuk in the world in 2002. This combines the features of the first full convertibility is usually only used for conventional equity-linked transactions is a historic issue of the first of its kind in the world. (Central Bank of Malaysia, 2007) Malaysia also continues to collaborate with other regulatory authorities to ensure financial stability in the Islamic financial system. This will be through Malaysias active involvement in the Islamic Financial Services Board (IFSB), the Islamic Financial Stability Forum (IFSF), the initiatives by the Islamic Development Bank (IDB), and finally in the newly formed International Islamic Liquidity Management Corporation (IILM). Depth and liquidity of the market has increased by secondary trading in the Malaysian sukuk market with the participation of more companies, including foreign-owned companies continued use of this market for funding purposes. Long-term funding needs are financed by a large number of corporate issuance. The diversity and size of the sukuk transaction was the increasing value proposition is very attractive to investors who want to diversify their asset portfolios, therefrom creating a vibrant secondary market. The Malaysian sukuk market has also grown to become more sophisticated and innovative to meet the multiplex risk-return requirements and profiles of both investors and issuers. Diversified range of players have been generated by the proliferation of new types of instruments with extended maturity profiles , both local and foreign to participate in the market. This was facilitated by the liberalization of the market in 2005 to allow for issuance of debt securities by foreign corporations and multilateral agencies in ringgit denominated papers. This was extended to foreign currency denominated issuances in year 2007. Actually, this has attracted many multilateral agencies, multinational corporations and foreign corporations to raise funds and invest in origination and issuances out of Malaysia, therefore enhancing the Malaysian market, and strengthening Malaysias inter-linkages with other international financial markets. The transformation of the Malaysian economy has been accompanied by the development of the sukuk market in Malaysia that has now become more private and diversified sector driven. The Government debt securities initially dominated the market, now reflects the growing demand for the long term financing requirements of the private sector. Now, the corporate sector raises 58% of their financing requirements through the sukuk market and debt securities compared to ten years ago is about 33%. The presence of a liquid and deep debt securities and sukuk market thus contributes towards the stability of the financial system. Now, with a number of Malaysias sukuk issues by 68.9%, or USD62 billion (or RM213 billion) of total global outstanding at the end of year 2007, Malaysia is the worlds largest sukuk market. Amount of corporate sukuk in Malaysia more than RM30 billion in year 2007. Malaysia not only lead the development of the sukuk market in terms of total sukuk issuance, even in terms of the introduction of innovative sukuk structures and competitive to attract more individual or corporation investors. Moving forward, Malaysia will continue its efforts in strengthening our international linkages in the global Islamic financial system through cooperation and collaborative partnerships with the objective of contributing towards greater economic integration and international financial. Certainly, sukuk ( Islamic bond ) proved that it is among the most successful Islamic financial product in the industry and be one of the fastest-growing sectors in the global financial landscape. Type of Sukuk Bonds Ijarah Sukuk Ijarah sukuk is an Islamic alternate of conventional leasing. Ijarah is a contract the distribution of funds to use right transfer (benefit) of an item within a certain time to the lease payments (ujrah), between the finance company as the lessor (muajjir) with tenants (mustajir) not followed by transfer of ownership of the goods themselves [1]. These are sukuk that represent ownership of equal shares in a rented real estate or the usufruct of the real estate. In other words, issuing certificates of ownership of assets, leased to a particular consumer is known as Sukuk Al Ijarah or simply Ijarah Sukuk. Other than that, Ijarah sukuk also is a bond between a bank with consumer to take on an item or even object leases and bank-owned banks have a service fee for items which is rent, and at the end with the purchase of leasing object by the consumer. (In Shaukats (2010) article, Common Structures of Sukuk, Ijarah sukuk were described as Ijarah sukuk are the securities representing ownership of well defined existing and known assets tied up to a lease contract, rental of which is the return payable to sukuk holders. (p. 10).) Ijarah sukuk have a main concept which means selling the benefit of apply or service for a fixed price or salary. Base on this concept, the Islamic bank make it available to the consumer applies of service of assets or equipments for a fixed period of time and also the price. 1Source: Sharia Economy Journal, Ijarah Definition (2011) Figure 5: The process of Ijarah SukukSukuk al-Ijarah.png The chart above shows few stages of the transaction process. First stage is Contract of Cash Sale. SPV purchases property from obligator as the step 1 above, such as SPV purchases hospital from government. After that, the assets purchased by the SPV are funded by the issuance of sukuk which is trust certificates which represents beneficial  ownership in the assets and the lease as the step 3 shown above. Besides that, government received cash proceeds as step 7 while Stage 2 is Contract of Leasing (Ijarah). At first, SPV rents property to the government for specified period which is step 2 shown above. After that, step 6 shows that SPV collects rentals. During the tenure, SPV passed the rentals to investors as the step 9. For your information, example is periodic distribution or coupon. Continually, at the maturity, SPV sells the property to the government at an agreed price. Government pays cash to SPV. Lastly, SPV simultaneously pay investors cash for sukuk redemption. Musharakah Sukuk Musharakah sukuk is a structure of partnership which is used in Islamic finance instead of interest-bearing loans. It is also a mode of financing against which Sukuks can be issued for. It does not differ from the Mudaraba sukuk except in the organization of the relationship between the party issuing such sukuk and holders of these sukuk, whereby the party issuing sukuk forms a committee from the holders of the sukuk who can be referred to in investment decisions [1]. Musharaka Sukuk are used for mobilizing the funds for establishing a new project or developing an existing one or financing a business activity on the basis of partnership contracts (Shaukat, 2010). Moreover, Musharakah Sukuk have a specified maturity date, and are negotiable in the secondary market. In the assets of the Musharakah sukuk, for every sukuk would have a representative holders proportionate ownership. These Musharaka certificates can be treated as negotiable instruments and can be bought and sold in the secondary market [2]. Musharakah sukuk  allows each party involved in a business to share in the profits and risks. Other than that, profit earned by the Musharakah sukuk is shared according to an agreed ratio between the Issuer and Investors at an agreement. Although the profit and loss is sharing, while it shared between the investors as per investment ratio only. Besides that, to ensure the tradability of Musharakah sukuks, all the assets should not be in liquid form. 1Source: Accounting and Auditing Organization for Islamic Financial Institution, AAOIFI 2Source:Common Structure of Sukuks, Mughees Shaukat Figure 6: The process of Musharakah SukukSukuk al-Musharaka.png From the above shown that, at the beginning, Corporate and the Special Purpose Vehicle (SPV) enter into a Musharakah Arrangement for a fixed period and an agreed profit-sharing ratio. Thus, the corporate undertakes to buy Musharakah shares of the SPV on a periodic basis. First, Corporate (as Musharik) contributes land or other physical assets to the Musharakah. After that, in 2 a b shown that SPV (as Musharik)