FINANCIAL ACCOUNTING Essay Example | Topics and Well Written Essays - 1250 words

FINANCIAL ACCOUNTING - Essay Example More specifically, the report will answer the question, â€Å"What was the adjusted profit for the financial year ending 30th September 2010 and which were the actual adjustments made to the accounts to reach at that amount?† 1. In this case the problem lies in the fact that the financial assistant was not aware of the new changes where there was a review in 31st March 2010 giving the plant a useful life of 5 years. The depreciation rate that should be reflected in the financial statements and in the comptation of profits for the financial year should be based on the reviewed value. This is when IAS number 16 has been applied. The adjustments are going to be shown in the appendix number (1). A journal entry is to be used to correct this error by the Financial Assistant. 2. This was a case by the Assistant where he did not consider the review of the value of the building in 1st October 2009. This is from the original  £700,000 to  £1,200,000. The review was to affect the profits by being included as a profit or gain to the firm rather than opening a revaluation account and reflecting the same in the asset account (in this case the building). IAS 16 is also applicable in this case as it is the most appropriate. Adjustments necessary are shown in Appendix (2). 3. This is a case where the Investment property was shown under land and buildings. There was no clear cut line as to where it should have been included. Though, IAS 16 still applies in this case no action is going to be made in making a journal entry to rectify. This is since there are neither rates nor the depreciation rate applicable. Investment property shown in 30.09.2009:  £800,000 Adjustment: since the rate of depreciation is not given nor the useful years as well as how the assistant treated it during the current financial year, no adjustment is to be

Knolege creatain Essay Example | Topics and Well Written Essays - 250 words

Knolege creatain - Essay Example niversities are responsible for this in efficient growth of clusters and business industries are putting in no effort to make use of them for growth and innovation. Each sector has to play a certain role with constant coordination to overcome crises. Grant (1996) suggests that knowledge infuses increased performance opportunities for firms able to understand, and utilize relevant knowledge efficiently. The role of a business industry is to sponsor extensive funds for research work to universities who are struggling hard to raise funds beside their limited funds from government to bring in exceptional innovations, technology and knowledge. Mode 2 is interconnected and not possible without a thorough work of mode 1, therefore business industry should collaborate with universities to carry on research and expand the area of innovative knowledge with practical experiments over it and simultaneously, business industry should give internships, job training and design an individual area to comprehend mode 1 studies into mode 2 work which can examine the loopholes in academic knowledge and its implementation in practical experiences which is not possib le in isolated environment of universities. This changing wave of knowledge economy has a great impact and acts as a driving force towards new opportunities for industries and will smooth the dynamics between universities and industries in the long run. Students independently cannot achieve a complete combination of theoretical and practical work if exposure is not provided but can help demonstrate through their university projects, though not sufficient to unfold their growing minds but can contribute. It is beneficial for students to use their academia through internships or part time jobs in the relevant industry in summers or annual vacations. Universities are the pathways for students but students themselves should take initiative to promote practical enforcement of their academic theories however on large scale,

Endocrine System Communication

Endocrine System Communication Explain the importance of intercellular communication and describe the mechanism involved. Intercellular communication is important because it assist the nervous system to elongate the long-term process of growth, development, or reproduction. The endocrine system uses chemical messengers to relay information and instructions between cells. One of the mechanisms involved in intercellular communication is know as direct communication this communication is rare but is important when it occurs. This is when two cells of the same type and the cells must be in extensive physical contact. The cells are so close they function as one. The majority of the communication is known as paracrine communication which is where the cell continuously exchanges chemical messages between each other so they are in sink with one another. Compare and contrast the modes of intercellular communication used by the endocrine and nervous systems and discuss the functional significance of the differences between the two systems. The nervous system performs short term â€Å"crisis management† and the endocrine system regulates long-term, ongoing metabolic processes. The endocrine system uses endocrine communication which helps regulate hormones through the circulatory system and the nervous system dose not have the capability to do this. Another significant difference is synaptic communication, the nervous system uses this form of communication of neurons to release neurotransmitter at a synapse very close to a target cell that bears the right receptors. This form of communication allows the body to react quickly to situations to escape from harm. Explain the general mechanisms of hormonal action and identify which hormone types work through each mechanisms. A hormone receptor is a protein molecule to which a particular molecule binds strongly. Each cell has receptors for responding to several different hormones, but cells in different tissues have different combinations of receptors. For every cell, the presence or absence of a specific receptor determines the cells hormonal sensitivities. Hormone receptors are located either on the cell membrane or inside the cell. The mechanisms of hormonal action are that receptors for catecholamines, peptide hormones and eicosanoids are in the cell membrane of target cells. Thyroid and steroid hormones cross the cell membrane and bind to receptors in the cytoplasm or nucleus, activating or inactivating specific genes. Describe the control of endocrine organs. The endocrine organs are controlled by three mechanisms of the hypothalamic control. One is the secretion of regulatory hormones to control activity of anterior lobe of pituitary gland. Two the production of ADH and oxytocin. And finally is the control of sympathetic output to adrenal medullae. Explain the structural and functional relationship between the pituitary gland and the hypothalamus. The pituitary gland releases nine important peptide hormones that all bind to the membrane receptors and use cyclic-AMP as a second messenger. The pituitary gland hangs inferior to the hypothalamus which all the anterior lobe of the pituitary gland to help in the function of the hypophyseal portal system. By the hypothalamus secreting specific regulatory hormones it controls the production of hormones in the anterior lobe. This whole system works to secret hormones from the hypothalamus through the pituitary gland in a network of capillaries that are connected. All this ensures that all the hypothalamic hormones entering the portal vessels will reach the target cells in the anterior lobe of the pituitary gland before entering general circulation. Predict how alternations in hormone production, delivery, or reception by target tissues would affect its action and blood concentration levels. Describe the factors that could determine a cells hormonal sensitivity. Cells sensitivity is determined by two factors down-regulation and up-regulation. Down regulation is a process in which the presence of a hormone triggers a decrease in the number of hormone receptors. This process is when levels of particular hormones are high, cells become less sensitive to it. Up-regulation is a process in which the absence of a hormone triggers an increase in the number of hormone receptors. In this process the levels of a particular hormone are low, cells become more sensitive to it. Identify the hormones produced by the anterior and posterior lobes of the pituitary gland and specify the functions of those hormones. The anterior lobe produces seven hormones: Thyroid-stimulating hormone (TSH) targets the thyroid gland and triggers the release of thyroid hormones. As circulation concentrations of thyroid hormones rise, the rate of TRH and TSH production decline. Adrenocorticotropic hormone (ACTH) stimulates the release of steroid hormones by the adrenal cortex and targets cells that produce glucocorticoids. Gonadotropins regulate the activities of the gonads. Follicle-stimulating hormone (FSH) promotes follicle development in females and, in combination with luteinizing hormone, stimulates the secretion if estrogen by ovarian cells. In males, FSH stimulates sustentacular cells, specialized cells in the tubules where sperm differentiate. Luteinizing hormone (LH) induces ovulation, the production of reproductive cell in females. Also promotes the secretion, by the ovaries, of estrogen and the progestin, which prepare the body for pregnancy. In male hormone is sometimes called interstitial cell- stimulating hormone (ICSH), because it stimulates the production of sex hormones by the interstitial cells of the testes. Prolactin (PRL) works with other hormones to stimulate mammary gland development. Growth hormone (GH) stimulates cell growth and replication by accelerating the rate of protein synthesis. The posterior lobe produces two hormones: Antidiuretic hormone (ADH) is released in response to a variety of stimuli, most notably a rise in the solute concentration in the blood or a fall in blood volume or blood pressure. A rise in the solute concentration stimulates specialized hypothalamic neurons. Oxytocin (OT) stimulates smooth muscles contraction in the wall of the uterus, promoting labor and delivery. After delivery this hormones stimulates the contraction of myoepithelial cells around the secretory alveoli and the ducts of the mammary gland, promoting the ejection of milk. Discussion the results of abnormal levels of pituitary hormones Abnormal levels of pituitary hormones can have a cast and complex impact on the growth, fertility, and function on the human body via the effect of the hormones on their target organs. Diseases anywhere from asthma to growth problems can occur. Identify the hormones produced by the thyroid gland, specify the functions of those hormones, and discuss the causes and results of abnormal levels of thyroid hormones. The thyroid gland produces thyroglobulin, tyrosine, and thyroxine. The functions of these hormones are: Thyroid hormones enter target cells by means of an energy dependent transport system and they affect almost every cell in the body. Thyroid hormones bound to cytoplasmic receptors are held in storage until intracellular levels of thyroid hormone decline. Thyroid hormones bound to mitochondria increase ATP production. Thyroid hormones bound to receptors in the nucleus activates genes that control energy utilization. The calorigenic effect: the cell consumes more energy resulting in increased heat generation. In growing children, thyroid hormones are essential to normal development of the skeletal, muscular, and nervous systems. The thyroid gland is primarily responsible for a strong, immediate, and short-lived increase in the rate of cellular metabolism. The major factor controlling the rate of thyroid hormone release is the concentration of TSH in the circulating blood. The causes of abnormal levels of thyroid hormones can create an iodide deficiency because in the U.S. we consume more than they daily amount needed. Thyroid hormone production declines, regardless of the circulating levels of TSH. Describe the functions of the parathyroid hormones, and the effects of abnormal functions of each hormone. Parathyroid hormone has four major effects: 1. It stimulates osteoclasts, accelerating mineral turnover and the release of Ca2+ from bone. 2. It inhibits osteoblasts, reducing the rate of calcium deposition in bone. 3. It enhances the reabsorption of Ca2+ at the kidneys, reducing urinary losses. 4. It stimulates the formation and secretion of calcitriol at the kidneys. The effects of calcitriol complement or enhance those of PTH, but one major effect of calcitriol is the enhancement of Ca2+ and PO43- absorption by the digestive tract. The parathyroid glands, aided by calcitriol, are the primary regulators of blood calcium I levels in healthy adults. When the parathyroid calcium levels become abnormal there are two disorders that can occur. Hypoparathyroidism the gland secretes low calcium concentrations in body fluid. Hyperparathyroidism is when calcium concentrations become abnormally high. Identify the hormones produced by the adrenal cortex and medulla and specify the functions of each hormone The adrenal cortex secrets the hormones adrenocortical, mineralocorticoids, glucocorticoids and androgens. The adrenocortical steroids or corticosteroids are vital: if the adrenal glands are destroyed or removed, the individual will die unless corticosteroids are administered. Mineralocorticoids increase renal reabsorption of Na+ and water which accelerates urinary loss of potassium. Glucocorticoids release amino acids from skeletal muscles and lipids from adipose tissue; promote liver formation of glucose and glycogen; promotes peripheral utilization of lipids; anti-inflammatory effects. Androgens are not important in men; encourages bone growth, muscle growth, and blood formation in children and women. The adrenal medulla secrets epinephrine and norepinephrine. These hormones increase cardiac activity, blood pressure, glycogen breakdown, blood glucose levels; releases lipids by adipose tissue. Also this is where the fight or flight syndrome is sparked. Discuss the results of abnormal levels of adrenal hormone production When the adrenal hormone becomes abnormal it produces several different disorders. The first is hypoaldosteronism; the zona glomerulosa fails to produce enough aldosterone, generally either as an early sign of adrenal insufficiency or because the kidneys are not releasing adequate amounts of rein. A rare but serious disorder can occur called Addisons disease which results from inadequate stimulations of the zona fasciculata by the pituitary hormone ACTH or, more commonly, from the inability of the adrenal cells to synthesize the necessary hormones, generally from adrenal cell loss caused by autoimmune problems. Another disease is Cushings disease which results from overproduction of glucocorticoids. There is another aspect of abnormal production of adrenal hormones that affects men and womens sexual characteristics called adrenogenital syndrome. In women, this condition leads to the gradual development of male secondary sex characteristics, including body and facial hair patters. In male to causes an increase of estrogen resulting in larger breast tissue or other female secondary sex characteristics. Last but not least there is a disorder of the adrenal medulla called pheochromocytoma which is an overproduction of epinephrine that causes a tumor that produces catecholamines in massive quantities. Describe the functions of the hormones produced by the pineal gland. It contains pinealocytes, which synthesize the hormone melatonin. The suggested functions of the pineal gland is that it inhibits reproductive functions, protects against damage by free radicals, and sets circadian rhythms. Identify the hormones produced by the pancreas and specify the functions of those hormones. The pancreas contains both exocrine and endocrine cells. Cells of the endocrine pancreas form clusters called pancreatic islets (islets of Langerhans). The pancreatic islets release insulin and glucagons. Insulin is released when blood glucose levels rise, and it stimulates glucose transport into and utilization by, peripheral tissues. Glucagon is released when blood glucose levels decline, and it stimulates glycogen breakdown, glucose synthesis and fatty acid release. Discuss the results of abnormal levels of pancreatic hormone production. When the pancreatic hormones produce abnormal levels of insulin and glucose it causes an individual to be diabetic. Diabetes mellitus is characterized by glucose concentration that is high enough to overwhelm the reabsorption capabilities of the kidneys. Glucose appears in the urine, and urine production generally becomes excessive. Describe the functions of the hormones produced by the kidneys, heart, thymus, testes, ovaries, and adipose tissue. Control of the heart, kidneys, thymus, gonads, and adipose tissue. The kidneys release erythropoietin and calcitriol into the red bone marrow, intestinal lining, bone and kidneys. All of the hormones releases are to stimulate red blood cell production and calcium and phosphate absorption and it also stimulates calcium ions from bone; inhibits PTH secretion. The heart controls the hormones natriuretic that targets the kidneys, hypothalamus and adrenal gland. These hormones increase water and salt loss at kidneys; decrease thirst; and suppress secretion of ADH and aldosterone. The adipose tissue contain two hormones that support to different functions, first is leptin which targets the hypothalamus for suppression of appetite; permissive effects on GnRH and gonadotropin synthesis. Second is resistin that targets cell throughout the body that suppresses insulin response. Last but not least are the gonads with the hormones androgens, inhibin, estrogen and progestin. All these hormones are targeted by the pituitary glands to support the reproductive organs in males and females. In males the interstitial cells of the testes produce androgens. Testosterone is the most important sex hormone in males. Sustentacular cells in the testes support the differentiation and physical maturation of sperm. Under FSH stimulation, these cells secrete the hormone inhibin, which inhibits the secretion of FSH at the anterior lobe. The female body develops oocytes in the follicles; follicle cells produce estrogens, especially estradiol. After ovulation, the remaining follicle cells reorganize into a corpus luteum. Those cells release a mixture of estrogens and progestins, especially progesterone. Explain how hormones interact to produce coordinated physiological responses. Hormones interact to produce coordinated physiological responses in four ways: 1. antagonistic (opposing) effects 2. synergistic (additive) effects 3. permissive effects, in which one hormone is necessary for another to produce its effect 4. integrative effects, in which hormones produce different, but complementary, results Identify the hormones that are especially important to normal growth, and discuss their roles. There are several hormones that are important for normal growth: GH, insulin, PTH, calcitriol, reproductive and thyroid hormones. The circulation concentrations of these hormones are regulated independently. Changes produce unique individual growth patterns. Growth Hormone (GH): effects are most apparent in children where GH supports muscular and skeletal development. In adults GH assists in the maintenance of normal blood glucose concentrations and in the mobilization of lipid reserves. Thyroid hormones: if these hormones are absent during fetal development or for the first year after birth, the nervous system will fail to develop normally and mental retardation will result. If T4 concentrations decline before puberty, normal skeletal development will not continue. Insulin: without insulin the passage of glucose and amino acids across cell membranes will be drastically reduced or eliminated. Parathyroid Hormone (PTH) and Calcitriol: promote the absorption of calcium salts for subsequent deposition in bone. Without adequate levels of both hormones, bones will be weak and flexible. Reproductive Hormones: the sex hormones (androgens in males, estrogens in females) stimulate cell growth and differentiation in their target tissues. Differential growth induced by each hormone accounts for gender-related differences in skeletal proportions and secondary sex characteristics. Define the general adaptation syndrome. Any condition that threatens homeostasis is a stress. Our bodies respond to a variety of stress-causing factors through the general adaptation syndrome (GAS), or stress response. The GAS can be divided into three phases: the alarm phase the resistance phase the exhaustion phase Reference page: S.Schaffer. Chapter 18. The endocrine system. Retrieved January 20, 2008 from http://www.harford.edu/faculty/SSchaeffer/Endocrine%20Outline.doc Martini. Chapter 18. The endocrine system. Retrieved January 20, 2008 from http://www.miramar.sdccd.cc.ca.us/faculty/kpetti/Bio160/Martini7DetailLectOutlines/18-Detailed_Lect_Out_LO.pdf.pdf

I Desire a Masters in Science :: Graduate Admissions Essays

I Desire a Master's in Science    My interest in science dates back to my years in high school, where I excelled in physics, chemistry, and math. When I was a senior, I took a first-year calculus course at a local college (such an advanced-level class was not available in high school) and earned an A. It seemed only logical that I pursue a career in electrical engineering.    When I began my undergraduate career, I had the opportunity to be exposed to the full range of engineering courses, all of which tended to reinforce and solidify my intense interest in engineering. I've also had the opportunity to study a number of subjects in the humanities and they have been both enjoyable and enlightening, providing me with a new and different perspective on the world in which we live.    In the realm of engineering, I have developed a special interest in the field of laser technology and have even been taking a graduate course in quantum electronics. Among the 25 or so students in the course, I am the sole undergraduate. Another particular interest of mine is electromagnetics, and last summer, when I was a technical assistant at a world-famous local lab, I learned about its many practical applications, especially in relation to microstrip and antenna design. Management at this lab was sufficiently impressed with my work to ask that I return when I graduate. Of course, my plans following completion of my current studies are to move directly into graduate work toward my master's in science. After I earn my master's degree, I intend to start work on my Ph.D. in electrical engineering. Later I would like to work in the area of research and development for private industry. It is in R & D that I believe I can make the greatest contribution, utilizing my theoretical backgr ound and creativity as a scientist.

Measuring academic proficiency under the NCLB.

The No Child Left Behind (NCLB) Act was designed to close the achievement gap between high and low performing children, especially the achievement gap between minority and non-minority students and between disadvantaged children and their more advantaged peers (NCLB, 2001). The key components of the act are the adequate yearly programs (AYP), and the annual measurable objectives (AMO). The AYP is the working principle of the act and it is seen as the mechanism for which all schools and all students meet the same academic standards in reading and mathematics by school year 2013-2014. The AMO indicates the performance of the school in terms of proficiency in reading and mathematics tests. Moreover, the law identifies student subgroups like economically disadvantaged students, students form major racial and ethnic groups, students with disabilities and students with limited English proficiency. The law also specifically requires that 95% of the total number of students in a school and 95% of each subgroup to take the reading and math standardized tests, while the state is tasked to determine its own AMO targets and the minimum number of students in each subgroup who are required to meet or surpass the AMO targets (NCLB, 2001). The AYP requirements apply to Title 1 and non-title 1 school that receive federal funding. Schools that do not reach AYP for two or more years will be labeled as in need of improvement and are sanctioned. The NCLB employs a conjunctive accountability system wherein each subgroup of students are required to reach the minimum levels of proficiency in math and reading regardless of their previous proficiency levels, thus within 12 years, all students should reach 100% proficiency. NCLB is based on the idea that high expectations for achievement would result to higher actual achievement levels. By requiring each school to reach a uniform level of proficiency  would mean that in a given period, all schools and all students would have mastered the same skills and learned the same knowledge in reading and mathematics. The NCLB measures progress through a single mean proficiency score across levels and subgroup.   However, this frame of mind does not consider the diversity of American students and their backgrounds. For example, requiring each subgroup to meet the minimum mean proficiency score would ensure that the school would not reach the AYP. Using a single mean proficiency score to measure performance is not a true measure of school improvement nor student performance. Although, NCLB have positive visions, its method of attaining its objectives undermines what it is supposed to do. The law treats each school and each student as a single and uniform entity when our society is composed of different races and backgrounds, not even taking into account the difference between the rich and the poor. Even if the law identified the subgroup of students, it still however assess each group in terms of the single mean proficiency score which is the same as implementing a one size fits all policy. The problem with NCLB is that it asks schools to be assessed against a single mean proficiency score, wherein if a school fails to reach this score, would indicate that the school is not performing as it should be in accordance with federal and state rules. The use of a single mean proficiency score says that each school is treated as equals, however the reality is differences in each school is present. For example, different districts cater to different students and since education have been the purview of the state; they have also different standards on accountability and accreditation. The schools seek to attain the level of performance required by the state and in cases where measures of school performance differ from the NCLB would say that schools are making progress in the state level but is not up to standard in the national level. Students also would be burdened by being pitted against a single score that may or may not be realistically attainable, and if they fail to reach the mark they would have caused the failure of the entire school. Another problem with the NCLB is that by identifying subgroup of students and requiring them to achieve the mean proficiency score puts them in a bind. The subgroups identified by the law in some cases could be an unnecessary repetition of the groups, for example most Blacks and Latinos are economically disadvantaged, and that most of these groups also have lower mean proficiency scores. Thus if a school is composed of many poor students, of different racial groups, of students with limited English proficiency, then this school will surely not reach that mean proficiency score. The NCLB is not friendly to racial groups, economically disadvantaged children, children with disabilities and children with limited English proficiency. It is common knowledge and even supported by statistics that those who are identified as economically disadvantaged are those who belong to a minority racial group. In which case they will be asked to reach the same proficiency score twice, then they will be labeled as under performing and the school as needing improvement. It will compromise what the students have accomplished in a school year, because failing to reach the mark is not equal to no improvement or no learning. As for the parents, they would probably think that NCLB is good for their children as it ensures equality between groups in terms of academic achievement. However, if their state certifies that their children are performing to expectations like in Virginia and California, but the federal government says otherwise would saw confusion and distraught among parents. Schools and districts complain that using a single mean proficiency score to measure performance is not realistic and appropriate. It does not take into consideration that high-poverty schools have students with less academic preparation than those with low-poverty schools. Moreover, by using a system of conjunctive accountability dooms schools from reaching AYP. The short term effects of NCLB on low-income students and of color is that thy will b subjected to more requirements in school or additional interventions that would enable them to reach the desired improvement of scores as well as being pressured to make that mark. The long-term effect is that when they fail to reach AYP and cause the school to lose out on the AYP race, then they will be blamed for it and probably will be faced with angry members of the community. When schools still fail to make the mark and is identified as needs improvement and probably would be given less funding the more the low-income and racial groups become more disadvantaged, instead of closing the academic achievement gap, the NCLB does not even consider what academic achievement is. I think that NCLB was born out of the sincere desire to make sure that our students have the same level of academic proficiency even for math and English only. Whoever drafted the bill however did not have a clear understanding of achievement, intelligence and environmental factors that are part and parcel of learning and education. It is also funny to think that as diverse a population as we have we want to be pitted against a single score when what is more important than the grade or score is actual learning and the evidence of improvement across the years. Thus, as a law that seeks to close the achievement gap between groups of students, the NCLB divides and places the minority groups in a more difficult situation and at a more disadvantaged position.   

Case Study Barings

Summary: One of the most infamous tales of financial demise is that of Barings Bank. Trader Nick Leeson was supposed to be exploiting low-risk arbitrage opportunities that would leverage price low rage differences in similar equity derivatives on the Singapore Money Exchange (Simex) and the Osaka exchange. In fact, he was taking much riskier positions by buying and selling different amounts of the contracts on the two exchanges or buying and selling contracts of different types.Thanks to the lax attitude of senior management, Leeson was given control over both the trading and back office functions. As Leeson's losses mounted, he increased his bets. However, after an earthquake in Japan after caused the Nikkei Index to drop sharply, the losses increased rapidly, with Leeson's positions going more than $1 billion into the red. This was too much for the bank to sustain; in March of 1995, it was purchased by the Dutch b bank ING for just one pound sterling.Overview: Barings Bank had a lo ng history of success and was much respected as the UK's oldest d merchant bank. But in February of 1995, this highly regarded bank, with $900 million in capital, was bankrupted by $1 billion of unauthorised trading losses. In 1993, Nick Leeson was appointed general manager of the bank's Barings Futures subsidiary appointed in Singapore. In this capacity, he was able to conceal his unauthorised trading activities for over a year because he managed both the trading and back office functions.The senior managers at a Barings came primarily from a merchant banking background and knew very little about trading. Even in the face of large profits, which should have tipped management off to the fact that substantial risks were being taken, they continued to believe that Leeson held matched Leeson positions on the Singapore International Monetary Exchange (Simex) and the Osaka exchange, and hence was making a low-risk profit. low In fact, Leeson was trading derivatives contracts on the two e xchanges that were, in some cases, of different types and, in some cases, in mismatched amounts.For example, Leeson rent executed a trading strategy known as a â€Å"straddle,† with the objective of making a profit by selling put and call options on the same underlying financial instrument, in this case, the Nikkei th 225 Index. A straddle will generally produce positive earnings when markets are stable but can result in large losses if markets are volatile. Leeson created an error account numbered 88888 as a holding area for any premiums or losses that he made. Leeson claims that he initially opened the account to conceal a single loss of e. 0,000 pounds sterling that had resulted from an accounting error until he could make up the difference through trading. However, he continued booking various losses into the account and also continued to increase his volume of trading and level of risk taking. Leeson took unauthorized speculative positions primarily in futures linked to the Nikkei 225 and Japanese government bonds (JGB) as well as options on the Nikkei. He hid his trading in an unused BSS error account, number 88888. Exactly why Leeson was speculating is unclear.He claims that he originally used the 88888 account to hide some embarrassing losses resulting from mistakes made by his traders. However, Leeson started actively trading in the 88888 account almost as soon as he arrived in Singapore. The sheer volume of his trading suggests a simple desire to speculate. He lost money from the beginning. Increasing his bets only made him lose more money. By the end of 1992, the 88888 account was under water by about GBP 2 million. A year later, this had mushroomed to GBP 23 million.By the end of 1994, Leeson's 88888 account had lost a total of GBP 208 million. Barings management remained blithely unaware. On February 23, 1995, Nick Leeson hopped on a plane to Kuala Lumpur leaving behind a GBP 827 million hole in the Barings balance sheet. As a trader, Leeso n had extremely bad luck. By mid February 1995, he had accumulated an enormous position—half the open interest in the Nikkei future and 85% of the open interest in the JGB future. The market was aware of this and probably traded against him.Prior to 1995, however, he just made consistently bad bets. The fact that he was so unlucky shouldn't be too much of a surprise. If he hadn't been so misfortunate, we probably wouldn't have ever heard of him. Traders sometimes speculate without authorization. Presumably, a few are able to cover their tracks. Others are caught. When they are caught, they are fired, and their employer eats the loss. Usually, neither the trader nor his employer has any interest in publicizing the incident. Leeson made headlines precisely because he was so unlucky.By the time he was discovered, he had bankrupted his employer. Publicity was unavoidable. What is amazing about Leeson's activities is the fact that he was able to accumulate such staggering losses w ithout Barings' management noticing. As Leeson lost money, he had to pay those losses to SIMEX in the form of margin. Leeson needed cash. By falsifying accounts and making various misrepresentations, he was able to secure funding from various companies within the Barings organization and from client accounts.His misrepresentations were flimsy at best. For example, he claimed that he needed funds to make margin payments on behalf of BSS clients, and he gave a technical argument related to how the SIMEX collected margin as justification. This claim was false. It was actually against SIMEX rules for a broker to post its own money as margin for a client. Even if the claim were true, the funds would have been needed only temporarily—until the client could make payment. Instead, Leeson continued to ask for ever more funding.Leeson increased the size of his open positions even as his losses increased due to volatility in the markets. When an earthquake in Japan caused a steep drop i n the Nikkei 225 equity index , however, Leeson's unauthorised trading positions suffered huge losses and his operation unravelled. On March 3, 1995, the Dutch bank ING purchased Barings for 1 pound sterling, providing the final chapter in the story of the 223-year-old bank that had once helped the United States to finance the Louisiana purchase.The beginning of the end occurred on January 16, 1995, when Leeson placed a short straddle (an options trading strategy) in the Singapore and Tokyo stock exchanges, essentially betting that the Japanese stock market would not move significantly overnight. However, the Kobe earthquake hit early in the morning on January 17, sending Asian markets, and Leeson's investments, into a tailspin. Leeson attempted to recoup his losses by making a series of increasingly risky new investments, this time betting that the Nikkei Stock Average would make a rapid recovery.But the recovery failed to materialize, and he succeeded only in digging a deeper hole . Realizing the gravity of the situation, Leeson left a note reading â€Å"I'm Sorry† and fled. Losses eventually reached ?827 million ($1. 4 billion at then-prevailing exchange rates), then prevailing twice the bank's available trading capital. This led to the bank's collapse. After fleeing to Malaysia, Brunei and finally Germany, Leeson was arrested and extradited back to Singapore on March 2, 1995. While he had authorization for the January 16 short straddle, he was charged with raud for deceiving his superiors about the riskiness of his activities and the scale of his losses, although some observers (and Leeson himself) have place much of the placed blame on the bank's own deficient internal auditing and risk management practices. Sentenced to six and a half years in jail in Singapore, he was released from prison in 1999, having been diagnosed with colon cancer, which he has survived despite grim forecasts at the time. While in despite prison, in 1996, Leeson published an autobiography, Rogue Trader, detailing his acts.There may be a temptation to view this debacle as being caused by just one individual – the â€Å"rogue trader† – but in reality the fiasco should be attributed to the underlying structure of the firm, and particularly to the lack of internal checks and balances. Events: 1993: Nick Leeson becomes general manager of Barings Futures (Singapore), running the bank's Simex (Singapore International Monetary Exchange) activities. January 1994: By this date (at the latest), Leeson started selling put and call options on the Nikkei 225 equity index, placing the premiums earned into an error account number 88888.This strategy, known as a straddle, is essentially a bet on the stability of market prices. 24 February 1994: A memorandum from the Barings' asset and liability committee values the 4 options portfolio at 2. 8 billion yen. July 1994 – August 1994: James Baker, an internal auditor, spends two weeks in Singapor e investigating the immense profits being made there. Baker identifies the weakness of internal controls and recommends that the general manager should no longer be responsible for the back office.In response, a separate financial manager in Hong Kong is given part part-time responsibility for watching over the back office. ng August 1994: In an attempt to better evaluate its overall risk, Barings sets up an integrated Group Treasury and Risk function, reporting to a new asset and liability committee (Alco). December 1994: A later Barings investigation reveals that, for unknown reasons, Leeson has run up an accrued loss amounting to Y7. 7 billion on the account by the end of 1994. 23 January 1995: The Nikkei 225 drops by 1000 points after an earthquake hits Japan's industrial heartland. 6 January 1995: The London futures team gives Barings' Alco Committee a presentation on the Baring Futures (Singapore) operation, which states that Leeson is operating a perfectly perfectl matched bo ok – long in Osaka, but short to the same amount on Simex. 8 February 1995: Coopers & Lybrand decides to hold off signing off on Barings' accounts until it becomes possible to clear up a few points with Leeson. 23 February 1995: At close of trading, the error account contains 55,399 Nikkei contracts trading, expiring in March and 5640 expiring in June.As of February 25, this totalled a loss of 59 billion yen on Simex. 24 February 1995: The Barings Board meets to discuss a hastily prepared analysis of the hastily-prepared transactions in Account 88888. March 1995: The Dutch Bank ING agrees to purchase Barings for 1 pound and assume all of its liabilities (Bull, 1995). Lessons to be Learned: Lack of internal checks and balances Even when segregation of duties was suggested by internal audit, the concentration of power in the Leeson's hands was scarcely diluted. Lack of understanding of the business.If Barings' auditors and top management had understood the trading business, the y would have realised that it was not possible for Leeson to be making the profits that he was reporting without taking on undue risk, and they might have questioned where the money was coming from. Arbitrage is supposed to be a low risk, and hence low profit, business, so Leeson's large m. profits should have inspired alarm rather than praise. Given that arbitrage should be cash cashneutral or cash-rich, additional alarms should have gone off as the Bank wired hundreds of rich, millions of dollars to Singapore.Poor supervision of employees Although Leeson had never held a trading license prior to his arrival in Singapore, there was little oversight of his activities and no individual was directly responsible for monitoring his trading strategies. Lack of a clear reporting line Leeson's fraud may have been facilitated by the confusion caused by two reporting lines: one to London, for proprietary trading, and another to Tokyo for trading on behalf of customers. customer Allikas: http ://www. erisk. com/Learning/CaseStudies/ref_case_barings. asp Kusimused:1. Millist kauplemisstrateegiat Nick Leeson oma ulemustele teadaolevalt kasutas? Kuidas selle strateegiaga teoreetiliselt raha on voimalik teenida? 2. Millist kauplemisstrateegiat Nick Leeson tegelikult kasutas? Kuidas selle strateegiaga teoreetiliselt raha on voimalik teenida? 3. Mis on back-office funktsioonid? 4. Mis sundmus sai Barings pangale saatuslikuks? Mis selle tulemusel juhtus Leesoni positsioonidega? 5. Mis olid pohjused (mida tehti valesti), et kaesolev Baringsi case sai uldse juhtuda (5 pohjust)? 6. Milliseid eetilisi noudeid Nick Leeson oma tegutsemisega rikkus ning kuidas oleks tulnud korrektselt kaituda?

Free Essays on No More On Route 54

No More on Route 54 Route 54 has been referred to by various agencies as â€Å"The deadliest highway in San Diego County†. This stretch of freeway, which follows the Sweetwater River from I-5 to Spring Valley, has claimed the lives of nine adolescent drivers and passengers in the past year alone, especially in a small area near Sweetwater Road. Despite the tragic loss of life in these accidents, the public is largely unaware of the dangers of this road, and I myself was personally unaware of it until an accident on Route 54 took the life of someone close to me. On the evening of March 5th, 18-year old Damien LaFrancis of Chula Vista was driving three friends in a 1989 Dodge Colt when a road rage incident with another driver caused him to swerve into the path of a Ford F250. Damien and two of his passengers were killed in the collision and the sole survivor, 16-year old Harmony Kielty of Chula Vista, is lucky to be alive. The pain that Harmony has endured since then is something that no person should have to suffer through, and that is why I call for â€Å"No More on Route 54.† In order to prevent any more people from losing their lives on this road, the community must work together with the media and police forces to spread awareness of the dangers of Route 54 and alleviate their effects. In order to lessen the dangers caused by speeding and reckless driving on Route 54, local police and Highway Patrol forces must crack down on these actions. Driver’s speeds should be monitored both by ground-based checkpoints and by airplane, and cameras installed to capture the license plate numbers of offenders. Signs should be posted at on-ramps to warn drivers of the new precautions and to inform them of the fines for speeding or reckless driving. The media should be made aware of the new program too ensure that everyone who lives in the area and uses Route 54 is aware of the dangers involved and the steps being taken. The local media must a... Free Essays on No More On Route 54 Free Essays on No More On Route 54 No More on Route 54 Route 54 has been referred to by various agencies as â€Å"The deadliest highway in San Diego County†. This stretch of freeway, which follows the Sweetwater River from I-5 to Spring Valley, has claimed the lives of nine adolescent drivers and passengers in the past year alone, especially in a small area near Sweetwater Road. Despite the tragic loss of life in these accidents, the public is largely unaware of the dangers of this road, and I myself was personally unaware of it until an accident on Route 54 took the life of someone close to me. On the evening of March 5th, 18-year old Damien LaFrancis of Chula Vista was driving three friends in a 1989 Dodge Colt when a road rage incident with another driver caused him to swerve into the path of a Ford F250. Damien and two of his passengers were killed in the collision and the sole survivor, 16-year old Harmony Kielty of Chula Vista, is lucky to be alive. The pain that Harmony has endured since then is something that no person should have to suffer through, and that is why I call for â€Å"No More on Route 54.† In order to prevent any more people from losing their lives on this road, the community must work together with the media and police forces to spread awareness of the dangers of Route 54 and alleviate their effects. In order to lessen the dangers caused by speeding and reckless driving on Route 54, local police and Highway Patrol forces must crack down on these actions. Driver’s speeds should be monitored both by ground-based checkpoints and by airplane, and cameras installed to capture the license plate numbers of offenders. Signs should be posted at on-ramps to warn drivers of the new precautions and to inform them of the fines for speeding or reckless driving. The media should be made aware of the new program too ensure that everyone who lives in the area and uses Route 54 is aware of the dangers involved and the steps being taken. The local media must a...

Free Essays on American Exceptionalism In The New World

American’s as a whole would like to think that the United States is the greatest nation on the planet, and for the most part we do. It has been driven into our heads, seen on television and cheered at sporting events. Whether or not this assumption is true, it is easy understood that Americans have an egotistical mindset as a whole. This â€Å"mindset† is often referred to as American Exceptionalism and its roots can be drawn from as far away as Europe and chronologically dates back to our nation’s birth. During the seventeenth century Europe was becoming a difficult and unattractive place to live for many of its inhabitants. Overcrowding of major cities, disease, and tyrannical rule allowed Europeans to dream of a better life, a life which would allow them to follow their religion and apply themselves for their own good and prosperity. Europe’s social order was the major concern for those looking to further themselves. Two groups usually formed Europe’s social order, this being the rich and poor. As the saying goes â€Å"the rich get richer and the poor get poorer†, leaving false hopes for those born in to a poverty stricken community. The law of the land was actually the law of the church leaving no separation between church and state, or government. Although this may sound quite confining for today’s citizens it was the norm not only in Europe but all over the world. As is human nature many non conformists were looking for something better, a place where they could attain a pure civilization removed from corruption and deception. A community where people were treated equally, could practice any religion, and further themselves with hard work and dedication. A new form of government was also a major concern to deserters of Europe. They no longer wanted a single monarch to control all aspects of their day to day lives. The idea of democratic rule had been brought forward by Montesquie, and was gaining popularity and under... Free Essays on American Exceptionalism In The New World Free Essays on American Exceptionalism In The New World American’s as a whole would like to think that the United States is the greatest nation on the planet, and for the most part we do. It has been driven into our heads, seen on television and cheered at sporting events. Whether or not this assumption is true, it is easy understood that Americans have an egotistical mindset as a whole. This â€Å"mindset† is often referred to as American Exceptionalism and its roots can be drawn from as far away as Europe and chronologically dates back to our nation’s birth. During the seventeenth century Europe was becoming a difficult and unattractive place to live for many of its inhabitants. Overcrowding of major cities, disease, and tyrannical rule allowed Europeans to dream of a better life, a life which would allow them to follow their religion and apply themselves for their own good and prosperity. Europe’s social order was the major concern for those looking to further themselves. Two groups usually formed Europe’s social order, this being the rich and poor. As the saying goes â€Å"the rich get richer and the poor get poorer†, leaving false hopes for those born in to a poverty stricken community. The law of the land was actually the law of the church leaving no separation between church and state, or government. Although this may sound quite confining for today’s citizens it was the norm not only in Europe but all over the world. As is human nature many non conformists were looking for something better, a place where they could attain a pure civilization removed from corruption and deception. A community where people were treated equally, could practice any religion, and further themselves with hard work and dedication. A new form of government was also a major concern to deserters of Europe. They no longer wanted a single monarch to control all aspects of their day to day lives. The idea of democratic rule had been brought forward by Montesquie, and was gaining popularity and under...

If Sentences for ESL Learners

If Sentences for ESL Learners English learners should learn if sentences, also known as conditional forms, in order to discuss various possibilities that are either realistic or imaginary. Follow the introduction below, you will find a grammar overview and explanation for each tense. Once you are familiar with these forms, use the referenced materials to practice and further your understanding of these forms. Teachers can print out the comprehension materials related to the materials, as well as the suggested lesson plans with point-by-point instructions on how to teach the conditional  forms in class. The Basics: What Are If Sentences? If sentences are used to discuss things that happen based on the condition that something else happens. There are three main types of if sentences. Use an if sentence in the first conditional to consider real, possible events in the present or future: If it rains, Ill take an umbrella. Use an if sentences in the second conditional to speculate about unreal, improbable events in the present moment or future: If I had a million dollars, Id buy a big house. An if sentence in the third conditional concerns imaginary (unreal) outcomes of past events: If he had spent more time studying, he would have passed the exam. If Sentence Forms Overview: If Sentence # 1 First Conditional If S present simple objects, S will verb objects- If the boys finish their homework early, they will play baseball. If Sentence # 2 Second Conditional If S past simple objects, S would verb objects- If he bought a new car, he would buy a Ford. If Sentence # 3 Third Conditional If S past perfect objects, S would have past participle objects- If she had seen him, she would have discussed the issues with him. Study If Sentences In Depth: Here is a detailed guide to all conditional forms with examples, important exceptions to the rules and a structured guide. The alternate guide provides options for advanced level learners. Finally, this guide to choosing between the first or second conditional provides further help on deciding whether to use the real or unreal conditional. Test Your Understanding of If Sentences: Once youve studied the rules - or if you already know the rules - test your knowledge: Conditional Forms Quiz For advanced level learners here is a reading dialogue comprehension exercise that focuses on using the third conditional. Teach a Lesson about If Sentences: This first and second conditional forms lesson employs reading comprehension about emergencies to help students discover and review the forms. Once students are comfortable with the form, they discuss other difficult or unusual situations using the first and second conditional This conditionals tic-tac-toe is a great game to help students review all three if sentence forms. Finally, here is a printable conditional form quiz to use in class. If Sentence Activities: Practice if sentences with grammar chants. Using chants, you and your classes can practice the structure so that it becomes natural and easy to remember.

Management Research Paper Example | Topics and Well Written Essays - 2000 words - 3

Management - Research Paper Example Several technological advancements have been made in the field of manufacturing affecting the supply chain in different ways. Current application of manufacturing technology in supply chain management and how best the technology can be utilized to improve the supply chain is analyzed in the below discussion. Logistic management is the management of the flow of goods, services and information from source to the desired destination at the lowest possible cost. Through the various stages of transmission, goods and information are faced with various challenges that are a threat to the process. Mismanagement of the logistics can lead to disruption of the supply chain both in the short and the long run. Safety measures in the logistic system determine the effectiveness of the logistic system for a successful supply chain. Among the threats to logistics are increasing with the developments in the market. Risk factors include the unpredictable change in transport and energy costs, higher cost of financing, insolvency of a basic logistic provider, changes in local and international legal requirement and insufficient number of skilled employees in the necessary field (Bielecki & Szymonik 2011) Management of the centralized supply chain is receiving much attention from firms. Firms use customer service measure based on frequency to measure efficiency in the supply chain. The actual measures conducted are the fill rate and stock out rate. These measures indicate the efficiency of the centralized supply chain system. The assumption is that suppliers are able to meet all customer needs and supply the orders as to when required. Advance production is the case with a centralized supply chain to meet customer demand with supply. However, the changes in the market are posing a threat to this system. Given the changes in technology, the supply chain

English is seen by some as 'the global language'. Discuss with Essay - 1

English is seen by some as 'the global language'. Discuss with reference to some of the domains in which English is gaining most - Essay Example It is interesting to discuss why English, and why not any other language. According to Crystal David (2003 ) a language achieves a global status only when it develops a ‘special role’ and fulfils certain functions. The ‘power function’ of language expects that it should enable us to gain goods and services in order to live well and lead a good life. The ‘community function’ of language helps us to represent a personal and social identity. The former is a centrifugal force and the latter is a centripetal force. Let us examine how far the English language is successful in playing the ‘special role’ which implies numerous facets, so that it can rightly be called an international language. One hypothesis can be that a language that is the Mother Tongue of people in maximum number of countries can be an international language. But geographically speaking, English is a mother tongue in a handful of nations like USA, Canada, Britain, Irela nd, Australia, New Zealand, South Africa several Caribbean countries and a few others. Yet, we observe that its influence has reached all parts of the world. Hence, being a mother tongue of many nations cannot be a criterion for being qualified as an international language. ... The language adhered to the religion and was retained. English was the language of administration during the British rule and even after Independence, English continued to be used as an official language in more than 70 countries like Ghana, Nigeria, India and Singapore, to mention a few. In the 19th century, England was politically a powerful nation. In the 20th century, its power began to wane and USA became economically dominant. The mother tongue in USA is also English. Political power establishes a language, as it happened in the 19th century. But it is economic power that helps to maintain and expand it. This happened in the 20th century when America became an economic power. It is indeed true that ‘English was at the right place at the right time’. ( Crystal David, 2003 ) The Industrial Revolution and the Electronic Revolution were two important historical events that changed the face of the world. These revolutions were led by British and American scientists. The y brought vast changes in the lifestyle of people all over the world and were two major steps towards globalization. Following these events, English language captured areas like media, advertising, popular music, broadcasting, cinema, computers and internet. In order to stay ‘with the world’, people realized that they had to know the English language. It promoted international relations. English is taught as a foreign language in more than 100 countries today, the chief among them being China, Germany, Spain, Egypt, Brazil, India and an ever increasing number of countries for that matter. A lot of time and money is spent by many countries in teaching English as a foreign language. It is realized by one and all

The History of Chicago House Essay Example | Topics and Well Written Essays - 1000 words

The History of Chicago House - Essay Example Chicago house takes disco’s usage of a noticeable bass drum on each beat and establishes a new pattern by blending in a thick electronic synthesizer base, electronic effects, electronic drums, pop and funk samples, and delay-enhanced vocals. Chicago House, after relishing noteworthy club-based and underground triumph in Chicago since 1980s onwards, surfaced into the pop market of the United Kingdom mainstream in the middle to late 1980s. Popularity swiftly ensued in other parts of Europe, and it turned into a global spectacle from the early to middle 1990s onwards. Chicago house evidenced to be a thriving genre, commercially, and beyond pop-based mainstream distinction flourished progressively popular. DJ International with Trax Records released most of the tracks that distinguished Chicago house sound, mostly on vinyl. Both record labels owned distribution channels outside Chicago ensuing to house popularity in other cities including London. House music is associated with thr ee styles of dancing namely: footwork, lofting and jacking. They comprise a range of skills with sub-styles that comprise of stomping, shuffling and skating. House dancing involves the body sensuality and setting oneself free. One key aspect of house dancing is a skill, which derived in Chicago, which encompasses the chest moving frontward then rearward into a flowing movement. A sped-up repetition of the movement totally the rhythm of a track is known as the jack. Artists and groups like Janet Jackson, Madonna, C+ C Music Factory and Bjork.... They comprise a range of skills with sub-styles that comprise of stomping, shuffling and skating. House dancing involves the body sensuality and setting oneself free. One key aspect of house dancing is a skill, which derived in Chicago, which encompasses the chest moving frontward then rearward into a flowing movement. A sped up repetition of the movement to tally the rhythm of a track is known as the jack. Artists and groups like Janet Jackson, Madonna, C+ C Music Factory and Bjork integrated the genre into their music. After relishing notable, thrive in the middle 1990s, Chicago house came to be even more popular in the second eruption of Progressive House (1999-2001). Chicago house is remains widespread besides it is sometimes integrated into other popular subgenres. Today House tunes remain popular in both mainstream pop display and within the clubs, while still maintaining a strong foothold on underground scenes globally (Hanson 66). Similarities and Differences in Chicago House and Disco Both Chicago and Disco music were influenced by funk, soul and Latin music. While house music has an up temple dance feeling with three commonly known dancing styles- the Jacking, Footwork and Lofting. Most disco music has a soaring sound. House music has a snare drum on taps 2 and 4 of each bar. Both house and disco have frequently reverberated vocals above a firm 4 and floor rhythm, a quaver (8th note) and disco has a semi-quaver (16th note) hit hat outline alongside the exposed hat at the off- rhythm, and a noticeable, accented bass line electric occasionally comprising of tones on the eighth degree. The Jazz Fender Bass is frequently connected to bop bass strings, since the device bear a very projecting vocal sound within a melodic blend. In many

Should Juveniles Be Charged as Adults in Criminal Cases Research Paper

Should Juveniles Be Charged as Adults in Criminal Cases - Research Paper Example Transfer mechanisms may vary according to where the responsibility for the transfer decision making lies and the provisions for this fall into three categories: a judicial waiver, concurrent jurisdiction, and statutory exclusion. In a judicial waiver, the juvenile court judge has the power to relinquish the juvenile court’s right and move the case to an adult criminal court. In a concurrent jurisdiction however, the original jurisdiction for certain cases is shared by both the criminal court and the juvenile court and the prosecution has the discretion to decide in which courts to file the cases in. In statutory exclusion, a state statute excludes certain juvenile offenders from the jurisdiction of a juvenile court and the cases against them come from criminal courts. Because of the increasing crime rates, as well as the more dangerous crimes being committed by juveniles, more pressure is being exerted not only by prosecutors and but also by the general public to charge these youths as adults as opposed to their being processed through the juvenile justice system. Virtually every juvenile offender with a past criminal history or is notorious for violent crime, is tried an adult court (Buffalo News, 1994). Rhodes, K (2008) states that while structures are present in all states to try and discipline juveniles in ways that are distinctive from adults, crimes such as rape and homicide are controversial because it is not easy to determine whether juveniles merit a less punitive treatment from that of adults. It is understandable that some people would seek to have the juvenile offenders receive a harsher punishment for their crimes especially considering the high number of crimes being committed by juveniles. The juvenile justice system has been reformed so much to an extent that they are almost indistinguishable from the adult justice system. The question that we have to consider is whether all these reforms have been of any benefit to the society or not. Th ese harsh laws which have been put in place to curb juvenile crime have been proven not to work over the years and have instead treated this age group unfairly and inhumanely, not achieving the safer society which was the purpose for their being enacted (Crime Control Digest, 2004). It has been proven that juveniles who have been prosecuted through the adult system serve shorter sentences and their experiences in adult prisons teaches them to become even more dangerous criminals once they are released. Furthermore, counseling, which is crucial in helping the juveniles in the transition to life beyond prison, is denied them in adult prisons and it has been observed that many juveniles have a hard time adjusting to life once they are released back into society. This is due to the fact that while youths in the juvenile system undergo programs to reform them, those in the adult system learn to become hardened criminals, hence the increasing likelihood their going back to crime in societ y once they are released. While the juvenile system hides the criminal records of youths who have gone through it, the adult system does not and the adult criminal records of convicted juveniles keep them from getting jobs or being admitted to some schools and this leads them towards committing new crimes in order to make money for survival. Once these youths are stuck with criminal records, they tend to be permanently stigmatized and are allowed few opportunities to regain

Intermediate Macro Writing Assignment Example | Topics and Well Written Essays - 1000 words

Intermediate Macro Writing - Assignment Example This inefficiency and nuisance led to the plunge of several countries who had invested in financial institutions in the U.S, drowning their market commodities and share values and disrupting the entire stock and trade market with a series of sequential bailouts, buyouts, and collapses. (Havemann, The Financial Crisis of 2008, 2015) Of the most affected from this crisis emergence was China, with the most foreign exchange reserves held than required to withstand shocks. However it was found that countries that had accumulated large reserve assets before the crisis, such as China, are more likely to recover GDP growth after such global financial dilemmas. (Dominguez, Global Financial Crisis, 2011) Here we shall investigate to see the cause and effects of this incident in China. China is famously seen as the engine of the world economy, emerging as (once a major contestant), now a renowned leading exporter and generous importer in the past two decades, with its GDP increasing from 1.7-9.5%, a high purchasing power parity (PPP) after market exchange valuation and trade ratios doubling every 4-5 years. Its commodities have the power to lower consumer prices hence having a great impact on prices of goods and services internationally, with exports share raised from 3-10% and worth approximately $1.5 trillion. Chinas super competitiveness has been achieved by its universal trade and business activities that led to its popularity, holding 20% demand of world platinum and 17% pallid. High rank and prosperity was experienced until the downfall of the financial crisis had dawned upon their hard work and achievement. With trillions of dollars worth investment in foreign reserves, accelerating trade surpluses and a two-digit growth rate in the initial months of 2008, China came under the tidal wave of the financial crisis by mid year as banks began

Strategic Marketing Assignment Essay Example | Topics and Well Written Essays - 1000 words

Strategic Marketing Assignment - Essay Example It has same responsibilities as in any large corporations that could be found. 3.2.2 Senior management is comprised of talented and experienced people in the industry, and was given specific responsibilities in the company’s operation. Giving responsibilities is an act of recognition of talents which according to Deutsch, Barry n.d. is one way of keeping best employees. An example is Neil Montefiere, the current CEO and Executive Director of StarHub who brought with him his 36 years of telecom experience. Neil was chosen as Asia’s Best Executive and one of the 100 most powerful people in the industry in 2010. (See Annex 1 ) Corporate culture is defined as an organization’s shared values, symbols, behaviors and assumptions or simply put, ‘it is the way things are done†. (Jason, Martin. M. 2006) StarHub has a vision â€Å"to be Singapore’s first choice for information, communication, and entertainment services† and a mission â€Å"To provide every person, home and business in Singapore with world-class multimedia services and content. (Starhub 2012) StarHub considers people as their as their most important assets in the communication industry. Management fosters a work culture that values teamwork, customer responsiveness and reliability. Its core values are Excellence, Integrity and Teamwork. In setting up, Pophal, Linda.( 2009)said goals for business should be realistic, measurable and achievable. For this purpose, goal is to increase customer base by 10% in 2013. But how could this be done? These could be done by wrapping up the 4Ps of business – the product, price, place and promotion. Although Starhub Mobile is the last entrant to the Singapore’s mobile market, operating nation-wide, it is now the nation’s second largest mobile service provider. It is recognized by customers due to its innovative and pioneering services and pricing plans offered to users. For

Intermediate Macro Writing Assignment Example | Topics and Well Written Essays - 1000 words

Intermediate Macro Writing - Assignment Example This inefficiency and nuisance led to the plunge of several countries who had invested in financial institutions in the U.S, drowning their market commodities and share values and disrupting the entire stock and trade market with a series of sequential bailouts, buyouts, and collapses. (Havemann, The Financial Crisis of 2008, 2015) Of the most affected from this crisis emergence was China, with the most foreign exchange reserves held than required to withstand shocks. However it was found that countries that had accumulated large reserve assets before the crisis, such as China, are more likely to recover GDP growth after such global financial dilemmas. (Dominguez, Global Financial Crisis, 2011) Here we shall investigate to see the cause and effects of this incident in China. China is famously seen as the engine of the world economy, emerging as (once a major contestant), now a renowned leading exporter and generous importer in the past two decades, with its GDP increasing from 1.7-9.5%, a high purchasing power parity (PPP) after market exchange valuation and trade ratios doubling every 4-5 years. Its commodities have the power to lower consumer prices hence having a great impact on prices of goods and services internationally, with exports share raised from 3-10% and worth approximately $1.5 trillion. Chinas super competitiveness has been achieved by its universal trade and business activities that led to its popularity, holding 20% demand of world platinum and 17% pallid. High rank and prosperity was experienced until the downfall of the financial crisis had dawned upon their hard work and achievement. With trillions of dollars worth investment in foreign reserves, accelerating trade surpluses and a two-digit growth rate in the initial months of 2008, China came under the tidal wave of the financial crisis by mid year as banks began

Video games Essay Example for Free

Video games Essay This is very useful as it tells the staff in GAME quickly and efficiently about the availability of software in the shop. It allows them to inform questioning customers. GENERAL SECURITY Â  CCTV (Closed Circuit Television) this device is used to monitor everything that is happening. They are based everywhere in the company, in every department. This device can pick out things like thieves who are stealing merchandise to finding out what caused a certain accidental incident in another part of the company. Â  Login Systems a login system is a security lock that allows only authorised people to access computers. A username would be asked for followed by a password confirmation. This is a simple method to keep out people from accessing files on computers that are important. These are on all the computers in the company. Â  Keypad- this device is used in GAME to restrict areas that are only allowed for people that are authorised personnel. The person would have to key in a password to gain access to the restricted area. All the departments have areas that are restricted. Â  Norton Anti-Virus this program scans the computers for viruses and removes them. This is very useful if you are connected to the internet a lot where a lot of viruses try to attack you. Â  Norton Internet Security this program gives you extra protection from internet abusers. This allows you to enforce parental control, intrusion detection, privacy control, ad blocking, AntiSpam and a personal firewall to keep out intruders. DEPARTMENT SPECIFICS This section is on the specific hardware, software and security used in each department. SALES DEPARTMENT This is the Hardware and Software used specifically in the Sales Department. Hardware Input. These are the input devices used only in the sales department. Barcode Reader The barcode reader in the EPOS system scans the barcode on the items and keeps track of what items are being taken out and being returned. This also lets the company know whether they are running out of any specific items. They can also in the future use the information they obtained from the EPOS system and evaluate whether they should stock up on more items or less. Â  Magnetic Strip Reader This device is like a barcode reader but it has some advantages. It can hold more information and it also has more security. In a barcode you could find out the code on the barcode because of the numerals under it, but in a magnetic stripe you have to pass it through its reader to obtain its code. In the GAME industry they accept credit cards that have a magnetic strip. They also let people register for a GAME card, which also has a magnetic strip. Hardware Output These are the output devices used only in the Sales department. Â  Receipt Printers These printers print out the item that was purchased and include other details such as the date it was purchased, etc. These receipts are extremely useful, as they will allow the customers to return goods that do not satisfy them or is faulty. A unique system of GAME allows the customer to return goods that do not agree with them as long as they still have their receipt. Software Application These are the application software only used in the Sales department. Â  MS Publisher this program allows the Sales department to create sophisticated marketing products. Products like posters, leaflets and other paper-based marketing goods. Â  MS Excel this program allows the sales department to produce a database on their customers. The reward card scheme allows GAME to keep a record of their customers and their history with GAME. GAME can use their database to find out what each customer has bought and returned. They can find out what each customer likes and dislikes. They can use this information to improve on what they need to do to make GAME a better service to the customers. Security These are ways security is handled only in the sales department. Â  Security Guards security guards are used in the sales department to guard retail shops from vandals, thieves and troublemakers. They are trained professionals that can handle all different situations. Â  Sensor Barrier this device is used in the sales department in the retail outlets. People have to go through it whenever they want to enter or leave the shop. If it rings then that means the culprit that caused it has an item that has not been bought but in fact is being stolen. It is very useful in cutting down shop robbery. Â  Finance Supervisor these are people who have been hired to watch over the people who are involved in the transactions of the money belonging to GAME. So if a worker is seen to be trying to steal some of the companys money, then the supervisor would report the culprit for arrest. PURCHASING DEPARTMENT This is the Hardware and Software used in the Purchasing Department. Hardware Input These are the input devices used only in the Purchasing department. Â  Barcode Reader The barcode reader in the purchasing department is used to key in all the items that are being bought in and out of the retailer. It helps it to determine how much of each product is in stock. Hardware Output. These are the output devices used only in the Purchasing department. Ordering Software this software is used to buy products from different manufacturers. Whenever the company is low on a product the ordering software would purchase more of that same product to restock. Security The purchasing department uses only the security stated in the general security section. FINANCE DEPARTMENT This is the Hardware and Software used in the Finance Department. Software Application These are the application software only used in the Sales department. Â  BACS (Bankers Automated Clearing Syst.

An Overview Of Metaphor And Politics English Language Essay

An Overview Of Metaphor And Politics English Language Essay The earliest study of metaphor can be traced back to the ancient Greek philosopher Aristotle, whose definition of metaphor as transference of lexical meaning for achieving rhetorical and poetical value set the tones for scores of generations in their metaphor study. For a long time, metaphor was limited to a narrow field of practical rhetoric and composition, and even considered simply ornamental in function. The advent of cognitive linguistics, put forward by Lakoff and Johnson, has exerted a dramatic change to metaphor research. Metaphor is not merely a linguistic expression, but more fundamentally a form of thought with its own epistemological function. Furthermore, Lakoff also advocated that metaphor, as a phenomenon, involves both conceptual mappings and individual linguistic expressions (1992, p.5). In modern times, metaphor is recognized as a powerful tool in shaping the cognitive world that we experience and therefore is indeed something that we live by. Acknowledged as an in dispensable and decisive feature of natural language, metaphor is so ubiquitous that no study of language can be complete without an adequate account of it. Weekly Radio Address delivered by American Presidents is a special kind of language report in that the Presidents, facing a great number of audiences at home and abroad, have to analyze the current issues and persuade listeners to support or accept à ¥Ã‚ ¤Ã‚ © their ideas. America is a county largely propagating democracy and freedom, therefore, the President is placed on a high obligation to make his decisions open to the public. It should not be taken for granted that once winning the election and taking oaths in the inaugural address, the president can rest easy and relax himself forever. Weekly address serves as a channel for American president to communicate with people, strengthen his power and establish his image. In the address, either for political, cultural or economic, the main aim for the president is to win public support and acceptance; thus language choice and communication skills are of high necessity in achieving political persuasion. Charteris-Black (2004) once cla imed that Choice of language in general and metaphor in particular is essential to politicians overall pervasiveness. (p.2). In other words, proper metaphors are of top priority in the well-formed radio addresses, which can not A Study of Conceptual Metaphors in President Obamas Weekly Radio Addresses only get the speeches running smoothly, but add color to the language and make it easily accepted by the audience. Barack Obama is the first black president in American history. So in order to consolidate his position, he should pay much more attention to strengthening his impression on people through public communication. The image of reliability, honesty, morality and integrity is essential to making sure his long-term success in politics. Taking the weekly addresses made by previous presidents into consideration, it is not difficult to confirm that metaphor is widely employed owing to its nature of vividness and persuasiveness. In addition, as a great art work of language, metaphor also contributes a lot to polishing President Obamas speeches so as to avoid the risks of directly noting something unpleasant. So the relationship between politics and metaphor is like fish and water, just as Thompson (1996) once asserted that politics without metaphors is like a fish without water (p.185). In a word, metaphor and politics are closely related in one way or another. Without metaphor, politicians may encounter a lot of obstacles and troubles in expressing their ideas to the people; without metaphor, the strength of the political address will fade; without metaphor, human language will only serve a role of delivering information. Take what Miller (1976) said as a summary, metaphor is essential to political inquiry, because it permits us to extend our knowledge from our familiar world to a region that is not open to immediate experienceà ¢Ã¢â€š ¬Ã‚ ¦Metaphor is necessary to political knowledge precisely because the meaning and reality of the political world transcends what is open to observation (p.457). Therefore, President Obama extensively applies metaphors in his weekly radio address in that they can help to explain complex political issues, and Obama in this way can persuade listeners to accept his ideas, and influence their interpretation as well. 1.2. Goal of the Study Metaphor and politics are closely connected with each other. Weekly Radio address is a typical platform for the president conveying his political views and winning supports from the public. In the address, American president employs various tips, metaphor in particular, to make his speeches more accessible and powerful. In the past years, scholars both at home and abroad have made great efforts to study English political speeches in line with pragmatics, stylistics, rhetoric and syntax. But little 2 Chapter 1 Introduction emphasis has been placed on analyzing President weekly radio address from the perspective of conceptual metaphor. Therefore the purpose of the present study is to further analyze it in terms of the metaphor. We are expected to solve such problems: What kinds of metaphors are frequently selected in President Obamas Weekly Radio Address? What are the roles of metaphors in Weekly Radio Address? How do metaphors reveal president Obamas ideology meaning? By discussing the above three aspects, the author intends to raise wider awareness of metaphors and finally comes to a conclusion that selection of metaphor is to satisfy or realize the purpose of the speakers, that is, identifying speaker with the whole audience. 1.3. Data and Method The data in this paper is all Weekly Radio Addresses delivered by the current American President Barack Obama in 2010, from January 2nd to December 25th. These speeches mostly focus on discussing the important issues at home and abroad, and they are all downloaded from VOA website. As the main purpose for this thesis is to analyze the radio addresses in terms of conceptual metaphor, identifying or selecting the metaphors out is of top priority in the process. With the development of linguistics and science, Gerard J. Steen and other ten linguists have introduced a five-step procedure for metaphor identification (2002b); they are 1) identification for metaphor focus; 2) identification of metaphor ideas; 3) identification of metaphor comparison; 4) identification of incomplete compositions; 5) identification of metaphor mapping. (Steen, 2002b, p.393). Therefore, based on their theory of metaphor identification as well as Lakoff and Johnsons conceptual metaphor theory, the researcher will first select the conceptual metaphors from the data, and then classify them in groups for further discussion. Both quantitative and qualitative methods are used in the process of analysis, so that the conceptual metaphors, as well as their frequency and functions can be measured in details. 1.4. Organization of the Thesis In general, the thesis consists of three parts, introduction, body and conclusion. The 3 A Study of Conceptual Metaphors in President Obamas Weekly Radio Addresses introduction is responsible for presenting the purpose and the macro-organization of the thesis. Some background information and the research tasks of the thesis are also included in this part. The body is the main part in the study, including four chapters. Chapter 2 first presents the history of metaphor study and then mainly focuses on exploring the conceptual metaphor proposed by Lakoff and Johnson, including its categorization, working mechanism and systematicity. It comes to a conclusion that metaphor is pervasive in our daily conversation, no longer restricted in poetry language as before. Therefore, political language is also full of conceptual metaphors deserving our consideration and study. Chapter 3 gives a brief introduction to the Weekly Radio Address, and also explains its features and functions according to the varieties of public speaking. Chapter 4 discusses research design and research procedures. Conceptual metaphors from the weekly radio addresses delivered by president Obama in 2010 will be singled out and classified for special analysis. Then based on quantitative and qualitative methods, their discourse functions as well as frequency will meet careful investigation. Chapter 5 as the last chapter of the body mainly discusses the basis and the purpose for applying conceptual metaphors in radio address. That is, why should the prepared radio address choose metaphors to fulfill its goals? At last, the conclusion part is a brief summary of the above five chapters and generally restates the findings of this study. Some limitations and future proposals are also mentioned for further research. 4 Chapter 2 Literature Review and Theoretical Basis Chapter 2 Literature Review and Theoretical Basis 2.1. Previous Studies on Metaphor 2.1.1. A Brief History of Metaphor No technical term or concept in linguistics as well as in any other science is born out of nothing. The notion of metaphor originates from the Greek word metapherein, meta means with or after (denoting sharing) and pherein means bring across. Although the researches on metaphor have a long history which can be traced back to Plato and Aristotle, a widely-accepted definition for metaphor has not come into being yet. In the era of Greek scholars like Aristotle, metaphor was only referred to here and there in the ocean of linguistic literature or poetry. At that period, western literacy, linguistics and critical traditions had been interested in the possibilities of differentiating between literal and figurative language. Aristotle, generally praised as a first thinker to elaborate the theory of metaphor, also classified language into rhetorical and common ones, and in his book Poetics (1951, p.71) he pointed out that Metaphor is the application of an alien name by transference either f rom genus to species, or from species to genus, or from species to species, or by analogy, that is, proportionà ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦. Analogy or proportion is when the second term is to the first as the fourth to the third. We may then use the fourth for the second, or the second for the fourth. Sometimes too we qualify the metaphor by adding the term to which the proper word is relative., which indicates that the greatest scholar here identified metaphor as a figure of speech, using the name of one thing to refer to the other. After that, his view on metaphor has been largely followed by rhetorical scholars who also regarded metaphor as a displacement or an extension of the meaning of words (Ricocur, 1978), or an implied comparison of two different things (Feng, 1983). In addition, they also emphasized that an eye for resemblance was essential in making a good metaphor, and metaphor itself could polish language, make language more charming and distinctive. Later on, another slightly different view on metaphor, known as substitution, was proposed by the ancient Rome rhetorician Quintilian. It mainly stated that metaphor was formed by using one expression to substitute another equivalent literal expression (Lin Shuwu, 1997, pp.11-19). Therefore, both Aristotle and Quintilian have limited metaphor 5 A Study of Conceptual Metaphors in President Obamas Weekly Radio Addresses to lexical level, as a figure of speech no different from other rhetorical devices like synecdoche, metonymy and personification. But their main differences lie in that the former regarded resemblance or analogy as the essence of metaphor, while the latter shifted his attention to substitution or replacement. From 1930s to 1960s, a new view called Interactive Theory was put forward by Ivan A. Richards, one of the founders of modern, psychologically based literary criticism, to examine the metaphorical property of human beings mind and action and the structure of metaphor. He claimed that In the simplest formulation, when we use a metaphor we have two thoughts of different things active together and supported by a single word, or phrase, whose meaning is a resultant of their interaction(Richards, 1936, p.89). Therefore, according to Richards, when researchers are trying to find out how the language works, they are actually studying human beings mechanism of thought, emotion and other brain activities. Compared with the above mentioned two theories, Interactive Theory is much better and more authentic in that it no longer limits metaphor at lexical level, but shifts to the way of thinking. Whats more, Richards has widened the researching field of metaphor, not just in rhetorical or poetry d iscourse but in our daily language including science discourse. A new view of metaphor that challenged all these aspects of the powerful traditional theory in a coherent and systematical way was first developed by George Lakoff and Make Johnson in 1980 in their seminal study: Metaphors we live by. Their conception has become known as the the cognitive linguistic view of metaphor. Lakoff and Johnson challenged the deeply trenched view of metaphor by claiming that 1) metaphor is a property of concept, and not of words; 2) the function of metaphor is to better understand certain concepts, not just some artistic or esthetical purposes; 3) metaphor is often not based on similarity; 4) metaphor is used effortlessly in everyday life by ordinary people, not just by special talented people; and 5) metaphor, far from being a superfluous though pleasing linguistics ornament, is an inevitable process of human thought and reasoning (1980, p.3). They have been convinced that metaphor is pervasive both in thought and everyday language. 2.1.2. Definition of Metaphor In terms of the several theories discussed above, it can be taken for granted that metaphor has witnessed a great revolution, from rhetorical devices at lexical level to 6 Chapter 2 Literature Review and Theoretical Basis cognitive aspect as a way of thinking, and from poetry discourses to daily language. Its definition has also changed a lot: as in the ancient Greek, the word metaphor was defined as a novel or poetic linguistic expression where one or more words for a concept are used outside of its normal conventional meaning to express a similar concept; but since 1980s, the essence of metaphor has focused on cognition instead of comparison and the locus of metaphor is not in language at all, but in the way we conceptualize one mental domain in terms of another. Today, an increasing number of cognitive scientists, including cognitive linguists, are engaged in researches on metaphor. The reason is that metaphor study has extended to a much wider area, interrelating with human thought, understanding, and reasoning. Trying to understand metaphor, then, means attempting to understand a vital part of who we are and what kind of world we live in. So now one widely shared definition of metaphor is propose d by Lakoff and Johnson (1980): metaphor is not just a matter of language, that is, of mere words, but a cross-domain mapping in the conceptual system; the essence of metaphor is understanding and experiencing one kind of thing in terms of another; and metaphor is pervasive in everyday life, not just in language but in thought and action (pp.3-5). In addition, other scholars also put forward their ideas about metaphor. Metaphor is characterized by the conceptualization of one cognitive domain in terms of component more usually associated with another cognitive domain (Taylor, 1989, pp.132-133). Yu (1998) focuses on the mappings between the source domain between the target domain, stating that metaphor is a conceptual mapping from a source domain to a target domain with both ontological correspondence and epistemic correspondence entailed by the mapping (p.15). All the definitions indicate that metaphor is related to conceptual system and should be understood as a metaphorical concept. 2.2. Researches on Conceptual Metaphor In cognitive linguistics, conceptual metaphor, or cognitive metaphor, refers to the understanding of one idea, or one conceptual domain, in terms of another. There are two main roles for the conceptual domains posited in conceptual metaphor: one is source domain, referring to the one from which we draw metaphorical expressions; and the other is target domain, referring to the conceptual domain that we try to understand. For 7 A Study of Conceptual Metaphors in President Obamas Weekly Radio Addresses example, in the metaphorical sentence ARGUMENT IS WAR, the word war is the source domain, while argument as the target domain; the concrete source domain is used here to better analyze the abstract target domain. Therefore, with the advent of cognitive linguistics, metaphor has witnessed a great revolution in getting access to the conceptual study. In this part, some researches on conceptual metaphor are to be discussed for the sake of theoretical basis. 2.2.1. Categorization of Conceptual Metaphor Influenced by Michael Reddys Conduit Metaphor Theory (Reddy, 1979, pp.284-310) (He put forward that language functions like a conduit, transferring thoughts bodily from one person to another), Lakoff and Johnson in their cognitive theory of metaphor subdivided conceptual metaphor into three categories: structural metaphor, orientational metaphor, and ontological metaphor (1980, pp.93-112). Structural metaphor refers to the type of conceptual metaphor in which a target domain is understood by reference to the structure of its source domain (Wang Yin, 2006, p.409). In terms of its definition, there are two components and two conditions that are essential to compose a structural metaphor. The source domain and the target domain are the two components that must be two different concepts, which satisfy the first condition. The second condition requires that the two unlike concepts should have something in common by which the structural metaphor adopts to illustrate and comprehend the concept of the target. Again take the expression ARGUMENT IS WAR for example: Conceptual metaphor: ARGUMENT IS WAR Linguistic analysis: Your claims are indefensible; His criticisms were right on target; I demolished his argument; Ive never won an argument with him; He attacked every weak point in my argument. (Wang Yin, 2006, 459) It can be seen from the example that the words like claims criticisms and argument used for describing argument can also collocate with such war-related words or expressions as indefensible on target demolished won and attached. So we can come to conclude that the concept ARGUMENT is metaphorically 8 Chapter 2 Literature Review and Theoretical Basis constructed in terms of the concept WAR. Ontological metaphor is another evidence to show that metaphor is not only a phenomenon of language but also a means of thinking and behavior, which is pervasive in our daily life (Wang Yin, 2006, p.410). The source domain in ontological metaphor always refers to those familiar things or objects in our world, which can be seen and touched easily, so we can know its function and qualities at the first sight, then it contributes to the comprehension and cognition of the target which is regarded as non-material or supernatural experience. Take the following sentence as an example. ARGUMENTS ARE BUILDINGS. Obviously, buildings are the most familiar thing that we see and have a direct contact every day, so their special qualities, such as the appearance, the foundation, the thickness, the possibility of construction, repair, destroy, collapse, etc., can be physically perceived. Therefore, arguments are metaphorically described as buildings, implying that a successful argument is similar to a good building based on careful preparations, firm foundations, good working skills and so on. Otherwise, it will be defeated. In terms of the ontological metaphor: ARGUMENTS ARE BUILDINGS, there arise many expressions as follows. We need some facts or the argument will fail apart. We need to construct a strong argument for that. This is an argument, and it needs more foundation. If you dont support your argument with solid facts the whole thing will collapse. Orientational metaphor, also called the spatialization metaphor, refers to a series of conceptual metaphors structured according to spatial orientation such as up-down, in-out, front-back, left-right and central-peripheral (Wang Yin, 2006, p.410). The specialty of the orientational metaphors is that they are not used in arbitrary but in a fixed way based on peoples experience and culture, and their cognitive job is to give an ontological status to general categories of abstract target concepts. For example, Happy is up, sad is down. Im feeling up/down. You are in high spirits. He is really low these days. The above four sentences prove that we can understand and express our feelings in 9 A Study of Conceptual Metaphors in President Obamas Weekly Radio Addresses terms of the simple spatial concept (like up and down), and the spatial concept itself is constructed from our experiences, that is, interactive with the physical environment. The physical words up down high and low here are no longer understood as the direction words as before, but used to explain and describe the non-physical phenomenon. 2.2.2. Working Mechanism of Conceptual Metaphor In the past years, different linguists have formed different understandings on the working mechanism of conceptual metaphor, such as Richard and Black interaction theory (1936), Lakoff and Johnsons mapping theory (1980) and Fauconniers conceptual blending theory (1996). Mapping theory will be singled out in this part for further discussion. According to Lakoff and Johnson, there are two cognitive domains in the conceptual metaphor, the source and the target, and its working mechanism is to map the experiences of the source domain onto the relatively abstract target domain. They also reinforced that metaphorical thought, in the form of cross-mappings is primary, metaphorical language is secondary (1999, p.123). Fauconnier inherited Lakoff and Johnson cross-domain mappings, claiming that mappings between domains are at the heart of the unique human cognitive faulty of producing, transferring and processing meaning (1997, p.1). Mapping theory is widely applied in illustrating how the two parts or domains can be identified with each other. Take LIFE IS A JONRNEY for example; figure 1 shows the corresponding conceptual mappings between the source domain JOURNEY and the target domain LIFE: Figure 2-1: Mapping Structure in LIFE IS A JONRNEY Source domain Journey Travelers Point of departure Distance Obstacles Destination Termination Target domain Life Common people Birth Process of life Difficulties Goals in life Death 10 Chapter 2 Literature Review and Theoretical Basis 2.2.3. Systematicity of Conceptual Metaphor According to Lakoff and Johnson, metaphorical concept is systematic as metaphor is to understand one concept in terms of another (1980, p.12). Based on the above analysis of the expression ARGUMENT IS WAR, it can be seen that such war-related words as indefensible, on target, demolished, won and attacked are used in a systematic way to describe the battling aspects of an argument. The conceptual features of war are partially transferred to those of argument, adding much color and vividness to the abstract word ARGUMENT. The analysis of LIFE IS A JONRNEY put forward by Lakoff also proves that full clusters of semantically-related words (the italic parts) are sometimes used with related metaphorical meanings. It goes as follows: He got a head start in life. Hes without direction in his life. Im where I want to be in life. Im at a crossroad in life. Hell go places in life. Hes never let anyone in his way. Hes gone through a lot in life. (Lakoff, 1993, p.19) One aspect needs to be pointed out that the very systematicity allows people to comprehend one aspect of a concept in terms of another but meanwhile it also hides other aspects of the concept. Just as the above mentioned, the conceptual features are just partially not totally transferred from one domain to another. Some other features especially those inconsistent ones are not selected out for cross-mappings. For instance, air battle, naval battle, radar-invading airplane, missile, field hospital and Military Area Command are all under the vocabulary of war, but they are not chosen here to systematically depict the feature of argument. 11 A Study of Conceptual Metaphors in President Obamas Weekly Radio Addresses Chapter 3 Weekly Radio Addresses of the US Presidents 3.1. Introduction The Weekly Radio Address is the weekly discussion of current events in the United States by the President. Franklin D. Roosevelt was the first U.S. president to deliver such radio addresses, and then in 1982, President Reagan revived the practice of delivering a weekly Saturday radio broadcast which is followed by all the other successors including President Barack Obama right now (Wikipedia). It is a typical and important kind of discourse, as in the speech, the President usually announces many newly-emerged domestic or international issues, attracting public attention and responses. The address embraces a lot of useful and fresh information, ranging from politics, economics, culture, education, military service, to health care, etc.. Since Barack Obama made his inaugural address on January 20th, 2009 as a new President in America, his weekly addresses have continued on the White House website, showing his concern on America as well as the whole world. So it can be taken for granted that the weekly address is of great necessity either for the President who can build up his public image, or for the American people who can in this way enhance their vigilance and take current problems into further consideration. 3.2. Varieties of Public Speaking The Weekly Radio Addresses made my U.S. president can be perceived as a sort of public speaking for the audience around the world. Therefore, the varieties of public speaking are necessary to be mentioned here to illustrate the features of Weekly Address. In accordance with their general purposes, speeches usually can be classified into four categories: to inform, to persuade, to entertain, and to stimulate. 3.2.1. Informative Speech Information or information transition plays an important role in the development process of human society. In the ancient time, people could not have developed themselves without sharing information or drawing on the experiences of others. In 12 Chapter 3 Weekly Radio Addresses of the US Presidents addition, people in the modern world often consider information as a kind of power, bringing a lot of physical property and mental legacy. One of the major purposes for human communication is to collect, exchange and share information with each other, and so is public speaking. As for this type of speech, the speaker is required to convey information, or in other words, to keep the audience informed of something important and teach them how to deal with it. For instance, President Obama once started his radio address with a matter of doctors pay cuts aiming to keep people informed of its real reason and effect: More than a decade ago, Congress set up a formula that governs how doctors get paid by the Medicare program. The intent was to slow the growth of Medicare costs, but the result was a formula that has proposed cutting payments for Americas doctors year after year after year. These are cuts that would not only jeopardize our physicians pay, but our seniors health care. Since 2003, Congress has acted to prevent these pay cuts from going into effect. These votes were largely bipartisan, and they succeeded when Democrats ran Congress and when Republicans ran Congress which was most of the time. (12th, June, 2010) The above paragraph is a typical example of informative speech in Obamas weekly radio addresses. Furthermore, in the process of delivering speech, such techniques as discussion, explanation, illustration and description are of great help in ensuring that the audience can bear what the speaker said in mind and then really put them into practice. 3.2.2. Persuasive Speech The purpose of this type of speech is to influence or change audiences attitudes, beliefs, values, feelings, etc. or to persuade them to take some action. In ancient Greek, a famous scholar, Aristotle in his book Rhetoric and Politics (1954) once pointed out a reasoning formula known as the syllogism, in which ethos, pathos and logos were identified as the three criteria for achieving a successful argumentative speech. Ethos means the persuasive appeal of ones character, especially how his character is established by means of the speech and discourse. It is a vital factor in determining whether the speech enjoys a persuasive power or not, as only an ethical and honest speaker could present a truthful argument and win the audiences approval. Pathos is 13 A Study of Conceptual Metaphors in President Obamas Weekly Radio Addresses another communication technique and means persuading by appealing to the readers or listeners emotions. So in order to make the argument attractive enough, the speaker needs to have deep passion when delivering the speech. Logos stands for the appeal to reason. It is harder to argue against the argument built on reason and solid ground; and such arguments make the speaker look prepared and knowledgeable to the audience, which can in turn enhance the power of ethos. All the above mentioned three factors are of great necessity in improving the speakers persuasive ability when making a public speech. President Obamas radio address on 12th, June will be selected here once more for analysis: Im absolutely willing to take the difficult steps necessary to lower the cost of Medicare and put our budget on a more fiscally sustainable path. But Im not willing to do that by punishing hard-working physicians or the millions of Americans who count on Medicare. Thats just wrong. And thats why in the short-term, Congress must act to prevent this pay cut to doctors. If they dont act, doctors will see a 21% cut in their Medicare payments this week. This week, doctors will start receiving these lower reimbursements from the Medicare program. That could lead them to stop participating in the Medicare program. And that could lead seniors to lose their doctors. (12th, June, 2010) In persuading Congress to draft a plan to prevent doctors pay cut, President Obama first defines himself as a man full of sympathy, love and considerateness by putting on the shoes of physicians and the millions of Americans, and then presents several reasons to consolidate his argument. So ethos, pathos and logos are all skillfully used in this persuasive part. 3.2.3. Entertaining Speech As the name suggests, this type of speech is just to bring some entertainment or amusement to the audience rather than to arouse any serious response. It is