Audit Framework Case Study Example | Topics and Well Written Essays - 6500 words

Review Framework - Case Study Example To do a review, there must be data in an irrefutable structure and a few principles (models) by which the evaluator can assess the data. Data can and takes numerous structures. Reviewers routinely perform reviews of quantifiable data, including companies’ budget reports and individuals’ government annual assessment forms. Examiners additionally perform reviews lf increasingly abstract data, for example, the viability of PC frameworks and the proficiency of assembling operations.This is a contextual analysis for inspecting Southern Rock, a high road UK Bank, enlisted in Southampton. Here review accomplice in the firm is â€Å"APMC Auditors† has given a few inquiries to reply. Answers of the given inquiries are replied as cry respectively: Answer to the inquiry no-1:Concept of Going Concern: The â€Å"going concern† observation is one of the administrative establishment stone of the money related bookkeeping arena.â The soul of going concern express that the Balance Sheet of an organization must be a reverberation the heaviness of that organization as though it would remain in presence for and past the anticipated future. At the end of the day, the going concern idea additionally expresses that the organization would be seek financial protection inside one year from the date of Balance Sheet. This paper would go to dissect the going concern idea and its crucial concentration to a sane perception of Southern Rock Plc. a Banking organization to the extent possible.â There are two significant gatherings in the appraisal of an organization as a going concern,â they are the company’s the board and its auditors.... Data can and takes numerous structures. Inspectors routinely perform reviews of quantifiable data, including organizations' budget summaries and people's government annual expense forms. Examiners likewise perform reviews lf progressively emotional data, for example, the viability of PC frameworks and the effectiveness of assembling tasks. This is a contextual analysis for examining Southern Rock, a high road UK Bank, enrolled in Southampton. Here review accomplice in the firm is APMC Auditors has given a few inquiries to reply. Answers of the given inquiries are replied as cry individually: Answer to the inquiry no-1: Idea of Going Concern: The going concern observation is one of the administrative establishment stone of the money related bookkeeping field. The soul of going concern express that the Balance Sheet of an organization must be a reverberation the heaviness of that organization as though it would remain in presence for and past the anticipated future. At the end of the day, the going concern idea additionally expresses that the organization would be seek financial protection inside one year from the date of Balance Sheet. This paper would go to break down the going concern idea and its indispensable concentration to a judicious perception of Southern Rock Plc. a Banking organization quite far. It would find the Impact of Going Concern on Financial proclamation and Audit system to set up Going Concern in Banking Sector just as the liquidation estimation of an organization and its advantage. Going concern evaluation: There are two significant gatherings in the evaluation of an organization as a going concern, they are the organization's administration and its examiners. Likewise, the accompanying variables may prompt a going concern reevaluation. The rundown

Is there such a thing as a post-modern novel Essay Example

Is there such an unbelievable marvel as a post Is there such an unbelievable marvel as a post-present day novel Essay Is there such an unbelievable marvel as a post-present day novel Essay Is there such an unbelievable marvel as a post-present day novel? Post-innovation expands pioneer uncertainness, much of the time by assuming that world, in the event that it exists by any stretch of the imagination, is mysterious or unaccessible through an etymological correspondence become segregated from it’ ( Stevenson: 28 ) . The use of the post-present day has become a generally significant term in basic and artistic hypothesis in ongoing yeas. Where a few pundits contend that post-innovation is just an advancement of innovation, others, for example, Fredric Jameson, (Postmodernism, or, The Cultural Logic of Late Capitalism:1991 ) contend that various assaults to post-innovation exist. Jameson contends that postmodernism is characterized primarily as a lack of a cardinal part ( be it development, account, story-line ) and thinks about that recorded, political and monetary qualities, in accordance with entrepreneur economy, have modified political directions and thus decentred customary artistic qualities. Shirvani ( 1994 ) agrees, Post-innovation rose as a signal of disobedience to the canonisation of innovation and the chaperon destruction of its oppositional potential’ ( 291 ) . The post-current non only motivations pundits to disregard in finding a methodical portrayal of the term, however neither would they be able to hang on a precise section from innovation to pos-innovation. Regular partitions exist with some proposing the perishes of Joyce and Woolf, while others favor the terminal of the Second World War or the terminal of Colonialism. The numerous scholarly devices that sub-partition the term, for example, folklore, women's liberation, investigator fiction or postcolonial story are potentially the solitary way of arranging its essentialness. Artistic surveies and readership have later called into request abstract worth, which appears to hold less significance inside the handy mechanical universe. Notwithstanding, it is absolutely the request of the reasonable and the existent that has lead a figure of essayists to get down to sort out an artistic standard that requests these common restrictions by sense of self checking on non just the writer however next to the peruser. Where as Jameson shuns intensions to craftsmanship, Hutcheson (A Poetics of Postmodernism, 1988 ) contends that style play an of import partition in post-innovation. An arrival to style each piece great as self-reflexive characteristics and the utilization of the existent in occasions and individuals from history ( 3 ) make an adaptable talk which the two developments and de-structures abstract writings. This internal looking and hesitance, two subjects that are curious to what hold been characterized as post-present day books rule the central developments of a few books that will be talked about in this exposition. Italo Calvino’sSe una notte d’invierno United Nations viaggiatorepublished asIf on a winter’s dim a travelerin 1979,Lunar Park( 2005 ) by Bret Easton Ellis andNumber9dreamby David Mitchell, distributed in 2001, embody the bound and illimitable developments of the post-present day content. Bret Easton Ellis’sLunar Park, the first of his books to be written in the past tense, is obviously a semi-self-portraying account. This new exemplifies absolutely the equivocalness that frequents numerous books that are named post-present day. The main character in the content is Bret Easton Ellis himself who starts the book novelizing his prior life and his ascent to distinction as an author. This standard segment of the novel is by all accounts an actual existence which, to the peruser, appears to be back to back frontward and most likely. In any case, it is during the drop into a whirlpool of medication and intoxicant reliance that the line among world and phantasy Begins to film over. He weds an entertainer ( who, it appears, has her ain site [ 1 ] however there is no record of her somewhere else ) and later moves to a disengaged town called Midland, close to New York. It is in clearly considered Midland that the obscurity among world and dream Begin to impact. As Ellis b ecome continuously engrossed with issues of expire ( especially those of his male parent ) which matches the logically spooky feel of his home, Ellis’s suspicion appears to take catch, changing the reader’s develops of what is existent inside the novel. This third interminable that is made now in the novel is apparently manufactured yet the trust that Ellis makes toward the start of the novel powers the peruser to oppugn their ain perusing of the content: is Ellis capricious and jumpy, are the characters around him just exorbitantly questioning to acknowledge his reality or is Ellis playing an evil game with the peruser? Number9dreamby David Mitchell other than utilizes a useful world in which to set up his book. Once more, the limit line that should separate the down to earth world from world is addressed. The supporter, Eji Miyake attempts two excursions inside the novel ; that of his chase for uniqueness and the one which matches the more created assault to his life. Despite the fact that the skeletal segment of the book is Eji’s story, Mitchell further uncovers the supporter through dreams, games, books, etc. This intertextual part of the book powers the peruser to oppugn their capacity inside the novel. Mitchell, through using changing story strategies ( Eji’s encounters in every part mirror the way of account ) uncovers the numerous essences of the supporter. In fact this content maps as a journal, as a fantasy, as a chase for distinction and a hypothesis of life. The uncertainty that is made through these maps neer uncovers to the peruser the genuine ground for Eji’s need to brood in down to earth world rather than stand up to his ain world. The solitary suggestion is perhaps Eji’s powerlessness to come to footings with the expire of his sister Anju, in any case, even this is only managed through an envisioned world which so makes the peruser oppugn what amount is dependable. Mitchell keenly proposes contrasting universes. Initially, there is the world we can contact and encounter and use as everyday life. There is the substitute universe of dreamscapes which are practical ( we can non make a picture which is non a thought of our encounters ) ; the registering machine games and books are an alternate world, that are perchance individual else’s world yet alongside permit the member to go another sense of self. Moreover, Mitchell, by utilizing the mechanisms of writing, human advancement, media and history, utilizes this content to talk the lamenting procedures that we suffer and hints that down to earth world plays a major bit in larning to get by with cataclysm. Eji gets dependent on phantasy and dreaming: he changes from the chase for himself ( That was who I genuinely was, a fantasy of the Real Miyake’ : 408 ) to a chase for a down to earth self image ( I would offer anything to be woolgathering right now’ : 418 ) . This is other th an obvious sing his folks where he understands that his chase for his male parent ( and his musings of what he would resemble ) was extremely more rousing and of import than world when he in the long run meets him. Calvino’s book,If on a winter’s dim a travellerreminds the peruser in the main case that they are perusing a book by opening it accordingly: You are going to get down perusing Italo Calvino’s new novel,If on a winter’s dim a voyager. Unwind. Concentrate. Disperse each other thought. Let the universe around you fade’ ( 1 ) . Calvino so keeps on reding how the peruser ought to sit or put themself so as to get the most from perusing the novel. In any case, it is the sentence, Let the universe around you fade’ that is seemingly one of the a large portion of import sentences in the novel. The peruser is purposefully approached to permit the universe vanish and to go settled in the novel. Nonetheless, this request itself makes the peruser perceptive that they are perusing a book. Moreover, it calls into request the unbounded among phantasy and world that is other than displayed in Calvino’s tale. The peruser can neer permit the universe cut ; they need their ain encounters of the universe so as to put with the book and its characters. It is other than their experience of the universe that will name into request the world or the falsity of the account. Moreover, the untypical development of the content purposefully helps the peruser to remember what their identity is and their part in the novel: the peruser. This update proceeds with unabated all through the novel. As such the author powers the peruser to play their capacity however he is other than discerning of his ain obligation. Calvino requests what a creator is with a passive sober mindedness: initiation is an occupation to do cash, non to joy a group of people. In reality the Good for you’ ( 4 ) that he tells the crowd with carefree impassion of the nature of the novel draws close to banishing the crowd. [ 2 ] He so proceeds, inside this bit of fiction, to confront the mass of unneeded books that are accessible to buy that divert fromexistentbooks. [ 3 ] Calvino’s considerations on the worth that is set on writing ( particularly since troublesome judgment has supported total human advancement in late mature ages ) plainly supported the awareness of non only creating yet perusing as Re ( 1998 ) agrees: writing might be troublesome work, however perusing it might be only as requesting. The request of who understands what, the political relations of readership, social imbalanc e and the opposition among high and low human progress, are cardinal to the present contention in social surveies and the emergencies in abstract studies†¦ [ Calvino ] accepted that to happen perusers one must make them by imagining a perfect reader†¦ The peruser whoever the person might be and any place the individual in question may originate from-must be lured by the content into going need the writings needs them to be’ ( 127 ) . It was the

The Opponent Process Theory of Color Vision

The Opponent Process Theory of Color Vision Theories Cognitive Psychology Print The Opponent Process Theory of Color Vision Understanding How We See Color By Kendra Cherry facebook twitter Kendra Cherry, MS, is an author, educational consultant, and speaker focused on helping students learn about psychology. Learn about our editorial policy Kendra Cherry Medically reviewed by Medically reviewed by Steven Gans, MD on May 22, 2017 Steven Gans, MD is board-certified in psychiatry and is an active supervisor, teacher, and mentor at Massachusetts General Hospital. Learn about our Medical Review Board Steven Gans, MD Updated on January 13, 2020 Juliet White / Getty Images More in Theories Cognitive Psychology Behavioral Psychology Developmental Psychology Personality Psychology Social Psychology Biological Psychology Psychosocial Psychology The opponent process theory of color vision suggests that our ability to perceive color is controlled by three receptor complexes with opposing actions. These three receptor complexes are the red-green complex, the blue-yellow complex, and the black-white complex. According to the opponent process theory, these cells can only detect the presence of one color at a time because the two colors oppose one another. You do not see greenish-red because the opponent cells can only detect one of these colors at a time.?? How the Opponent Process Theory Differs From Trichromatic Theory While the trichromatic theory makes clear some of the processes involved in how we see color, it does not explain all aspects of color vision. The opponent process theory of color vision was developed by Ewald Hering, who noted that there are some color combinations that people simply never see.?? For example, while we often see greenish-blue or blueish-reds, we do not see reddish-green or yellowish-blue. Opponent process theory suggests that color perception is controlled by the activity of two opponent systems:  a blue-yellow mechanism and a red-green mechanism.?? How the  Opponent Process Works The opponent color process works through a process of excitatory and inhibitory responses, with the two components of each mechanism opposing each other.?? For example, red creates a positive (or excitatory) response, while green creates a negative (or inhibitory) response. These responses are controlled by opponent neurons, which are neurons that have an excitatory response to some wavelengths and an inhibitory response to wavelengths in the opponent part of the spectrum.?? Example of the Opponent Process The opponent process theory explains the perceptual phenomena of negative afterimages. Have you ever noticed how after staring at an image for an extended period of time, you may see a brief afterimage in complementary colors after looking away? You can see this effect in action by trying out the following demonstration. Take a small square of white paper and place it at the center of a larger red square.Look at the center of the white square for approximately 30 seconds, and then immediately look at a plain sheet of white paper and blink to see the afterimage.What color is the afterimage? You can repeat this experiment using green, yellow, and blue. So, how does opponent process theory explain afterimages? Staring at the white and red image for 30 to 60 seconds caused the white and red opponent cells to become fatigued. When you shift your focus to a blank surface, those cells are no longer able to fire, so only the opposing black and green cells continue to fire in response to visual stimuli. As a result, you will see a brief afterimage that is black and green instead of white and red.?? Which Theory of Color Vision Is Correct? Which theory is correct -- trichromatic theory or opponent process theory? It turns out that both theories are needed to account for the complexity of color vision. The trichromatic theory explains how the three types of cones detect different light wavelengths, while opponent process theory explains how the cones connect to the ganglion cells. These ganglion cells are where the opposing elements inhibit each other to determine how color is perceived.??

Seven Deadly Sins Canterbury Tales Analysis - 802 Words

It would seem that everyone is guilty of at least one of the seven deadly sins in some shape or form. The Pilgrims of The Canterbury Tales are not strangers to sin, and questionable motives that may or may not clash with their professions or individual stereotypes. The Canterbury Tales follows a group of pilgrims set out on a long journey to the Canterbury Cathedral in London. The characters, whom are supposed to follow certain rules and morals in the poem, can exhibit traits of the seven deadly sins, â€Å"transgressions which are fatal to spiritual progress.† (Shannon). The first notable sin is Anger, being defined as becoming angry at someone or something to the point that one can lose control over their actions and words. The pilgrim who†¦show more content†¦The Wife of Bath is the most obvious pilgrim for this particular sin because of the fact that she has had multiple husbands, and perhaps even more men in her youth. â€Å"She had five husbands, all at the chu rch door, apart from other company in youth;† (Chaucer 109). The fifth sin is Envy, defined as wanting to be someone else because of the qualities and/or possessions a person has. Instead of honoring the life one has, they dishonor what they were given by being dissatisfied with it. The Nun can be found envious by her behavior. She wears makeup, although she shouldn’t be concerned about her physical appearance because she chose a life to help others. She does this in efforts to get attention from men, when nuns pledge themselves only to God. â€Å"Her nose was elegant, her eyes glass-gray; Her mouth was very small, but soft, and red. Her forehead, certainly, was fair of spread, almost a span across the brows, I own† (Chaucer 101). The sixth sin is Gluttony, described as not being satisfied with what one has, and wanting more. The Summoner is a great example of the sin Gluttony because he eats and drinks until he cannot take anymore. He even carries garlic and onions on his person at all times because he enjoys them so much. â€Å"Garlic he loved, and onions too, and leeks, and drinking. Strong wine till all was hazy† (Chaucer 113). The final sin is Pride, which is whereShow MoreRelated Summary and Analysis of The Parsons Tale Essay724 Words   |  3 PagesSummary and Analysis of The Parsons Tale (The Canterbury Tales) Prologue to the Parsons Tale: When the Manciples Tale was done, it was then four oclock. The Host claimed that only one tale remained. The Parson, however, refused to tell a foolish story, for Paul advised against telling false stories. He says that he will tell a virtuous tale in prose. The Parsons Tale: There have been many spiritual ways that have led people to Jesus Christ and to the reign of glory. The most prominentRead More Canterbury Tales Morality Paper1070 Words   |  5 PagesEternal Bliss or Life Amiss?: Analysis of Theme in Chaucer’s The Canterbury Tales The Christian Church has been a driving force in politics and morals for hundreds of years. In the medieval time period in Europe, the Church was particularly strong, a majority of the European peoples and rulers were followers. The set of moral codes and virtues the Church sets forth dictates how each person should live. Provided that one follows these morals, the Church guarantees every follower a placeRead MoreMy Own Creative Process And Transformative Experiences During The Stages Of Work Essay2156 Words   |  9 Pages This paper intends to describe the application of my own creative process and transformative experiences during the stages of work from creation to completion of an original body of sculptural artwork. Secondarily, providing analysis and interpretation of the relationship to the theories of creativity that have been studied throughout this course. I will be using the concept of self-awareness found in Maslow’s hierarchy of needs (Runco, 2014) and the concept of self-observation as a form of measurement

Face Perception Human Behavior, Personality, And...

Are faces special in relation to prosopagnosia facial disorder Faces are very crucial in terms of social interactions and are an important perceptual skill. They provide information about people’s identity, personality, and characteristics. Given its importance, facial processing has also become one of the most eminent areas of research in cognitive science, this has helped advancing an enormous number of neuropsychological, neuroimaging studies as well as behaviour to assist people’s understanding of the developmental, cognitive, and neural based of face perception. Loss of visual processes can lead to many deficits; one of the major disorders is prosopagnosia. Correlations between disorders of visual recognition of object and face recognition are currently being investigated with a variety of research method. Visual processing studies initially started during infancy experimenting on infants about their visual preference and have found infants spend longer time and attention at faces compared with other outstanding visual stimuli (Richler Gauthier, 2014). This has set the ground for debate on face perception, such as is there an innate genetic predisposition responsible for face-like stimuli or by experience with faces? Whether faces processing differ with other objects processing, and if there is a difference between face and object process, are the processing mechanisms specific to faces, or they share certain properties? Therefore, the purpose of this article is toShow MoreRelatedCustomer Personality And The Product Selection Process Essay1178 Words   |  5 PagesMarket segmentation is a marketing tool that divides a large heterogeneous market into smaller homogeneous subsets of consumers with similar needs, wants and characteristics. 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Communication Continuing through the interview questions, I asked Bianca â€Å"what advice she has for someone looking to be a manager?† She said, â€Å"Someone who is looking to become a manager needs to be able to have extreme patience, an open mind, and good communication skills. As a manager , he or she deals with many different personalities and at times it can be difficult to manage each employee if the employee

The Twilight Saga 4 Breaking Dawn 35. Deadline Free Essays

string(57) " disappointed that my examination was not more thorough\." â€Å"Headed out?† Edward asked, his tone nonchalant. There was a sort of forced composure about his expression. He hugged Renesmee just a little bit tighter to his chest. We will write a custom essay sample on The Twilight Saga 4: Breaking Dawn 35. Deadline or any similar topic only for you Order Now â€Å"Yes, a few last-minute things†¦,† I responded just as casually. He smiled my favorite smile. â€Å"Hurry back to me.† â€Å"Always.† I took his Volvo again, wondering if he’d read the odometer after my last errand. How much had he pieced together? That I had a secret, absolutely. Would he have deduced the reason why I didn’t confide in him? Did he guess that Aro might soon know everything he knew? I thought Edward could have come to that conclusion, which explained why he had demanded no reasons from me. I guessed he was trying not to speculate too much, trying to keep my behavior off his mind. Had he put this together with my odd performance the morning after Alice left, burning my book in the fire? I didn’t know if he could have made that leap. It was a dreary afternoon, already dark as dusk. I sped through the gloom, my eyes on the heavy clouds. Would it snow tonight? Enough to layer the ground and create the scene from Alice’s vision? Edward estimated that we had about two more days. Then we would set ourselves in the clearing, drawing the Volturi to our chosen place. As I headed through the darkening forest, I considered my last trip to Seattle. I thought I knew Alice’s purpose in sending me to the dilapidated drop point where J. Jenks referred his shadier clients. If I’d gone to one of his other, more legitimate offices, would I have ever known what to ask for? if I’d met him as Jason Jenks or Jason Scott, legitimate lawyer, would I ever have unearthed J. Jenks, purveyor of illegal documents? I’d had to go the route that made it clear I was up to no good. That was my clue. It was black when I pulled into the parking lot of the restaurant a few minutes early, ignoring the eager valets by the entrance. I popped in my contacts and then went to wait for J inside the restaurant. Though I was in a hurry to be done with this depressing necessity and back with my family, J seemed careful to keep himself untainted by his baser associations; i had a feeling a handoff in the dark parking lot would offend his sensibilities. I gave the name Jenks at the podium, and the obsequious maftre d’ led me upstairs to a small private room with a fire crackling in a stone hearth. He took the calf-length ivory trench coat I’d worn to disguise the fact that I was wearing Alice’s idea of appropriate attire, and gasped quietly at my oyster satin cocktail dress. I couldn’t help being a little flattered; I still wasn’t used to being beautiful to everyone rather than just Edward. The mattre d’ stuttered half-formed compliments as he backed unsteadily from the room. I stood by the fire to wait, holding my fingers close to the flame to warm them a little before the inevitable handshake. Not that J wasn’t obviously aware that there was something up with the Cullens, but it was still a good habit to practice. For one half second, I wondered what it would feel like to put my hand in the fire. What it would feel like when I burned___ J’s entrance distracted my morbidity. The maftre d’ took his coat, too, and it was evident that I was not the only one who had dressed up for this meeting. â€Å"I’m so sorry I’m late,† J said as soon as we were alone. â€Å"No, you’re exactly on time.† He held out his hand, and as we shook I could feel that his fingers were still quite noticeably warmer than mine. It didn’t seem to bother him. â€Å"You look stunning, if I may be so bold, Mrs. Cullen.† â€Å"Thank you, J. Please, call me Bella.† â€Å"I must say, it’s a different experience working with you than it is with Mr. Jasper. Much less†¦ unsettling.† He smiled hesitantly. â€Å"Really? I’ve always found Jasper to have a very soothing presence.† His eyebrows pulled together. â€Å"Is that so?† he murmured politely while clearly still in disagreement. How odd. What had Jasper done to this man? â€Å"Have you known Jasper long?† He sighed, looking uncomfortable. â€Å"I’ve been working with Mr. Jasper for more than twenty years, and my old partner knew him for fifteen years before that†¦. He never changes.† J cringed delicately. â€Å"Yeah, Jasper’s kind of funny that way.† J shook his head as if he could shake away the disturbing thoughts. â€Å"Won’t you have a seat, Bella?† â€Å"Actually, I’m in a bit of a hurry. I’ve got a long drive home.† As I spoke, I took the thick white envelope with his bonus from my bag and handed it to him. â€Å"Oh,† he said, a little catch of disappointment in his voice. He tucked the envelope into an inside pocket of his jacket without bothering to check the amount. â€Å"I was hoping we could speak for just a moment.† â€Å"About?† I asked curiously. â€Å"Well, let me get you your items first. I want to make sure you’re satisfied.† He turned, placed his briefcase on the table, and popped the latches. He took out a legal-sized manila envelope. Though I had no idea what I should be looking for, I opened the envelope and gave the contents a cursory glance. J had flipped Jacob’s picture and changed the coloring so that it wasn’t immediately evident that it was the same picture on both his passport and driver’s license. Both looked perfectly sound to me, but that meant little. I glanced at the picture on Vanessa Wolfe’s passport for a fraction of a second, and then looked away quickly, a lump rising in my throat. â€Å"Thank you,† I told him. His eyes narrowed slightly, and I felt he was disappointed that my examination was not more thorough. You read "The Twilight Saga 4: Breaking Dawn 35. Deadline" in category "Essay examples" â€Å"I can assure you every piece is perfect. All will pass the most rigorous scrutiny by experts.† â€Å"I’m sure they are. I truly appreciate what you’ve done for me, J.† â€Å"It’s been my pleasure, Bella. In the future, feel free to come to me for anything the Cullen family needs.† He didn’t even hint at it really, but this sounded like an invitation for me to take over Jasper’s place as liaison. â€Å"There was something you wanted to discuss?† â€Å"Er, yes. It’s a bit delicate.. ..† He gestured to the stone hearth with a questioning expression. I sat on the edge of the stone, and he sat beside me. Sweat was dewing up on his forehead again, and he pulled a blue silk handkerchief from his pocket and began mopping. â€Å"You are the sister of Mr. Jasper’s wife? Or married to his brother?† he asked. â€Å"Married to his brother,† I clarified, wondering where this was leading. â€Å"You would be Mr. Edward’s bride, then?† â€Å"Yes.† He smiled apologetically. â€Å"I’ve seen all the names many times, you see. My belated congratulations. It’s nice that Mr. Edward has found such a lovely partner after all this time.† â€Å"Thank you very much.† He paused, dabbing at the sweat. â€Å"Over the years, you might imagine that I’ve developed a very healthy level of respect for Mr. Jasper and the entire family.† I nodded cautiously. He took a deep breath and then exhaled without speaking. â€Å"J, please just say whatever you need to.† He took another breath and then mumbled quickly, slurring the words together. â€Å"If you could just assure me that you are not planning to kidnap the little girl from her father, I would sleep better tonight.† â€Å"Oh,† I said, stunned. It took me a minute to understand the erroneous conclusion he’d drawn. â€Å"Oh no. It’s nothing like that at all.† I smiled weakly, trying to reassure him. â€Å"I’m simply preparing a safe place for her in case something were to happen to my husband and me.† His eyes narrowed. â€Å"Are you expecting something to happen?† He blushed, then apologized. â€Å"Not that it’s any of my business.† I watched the red flush spread behind the delicate membrane of his skin and was glad – as I often was – that I was not the average newborn. J seemed a nice enough man, criminal behavior aside, and it would have been a shame to kill him. â€Å"You never know.† I sighed. He frowned. â€Å"May I wish you the best of luck, then. And please don’t be put out with me, my dear, but†¦ if Mr. Jasper should come to me and ask what names I put on these documents †¦Ã¢â‚¬  â€Å"Of course you should tell him immediately. I’d like nothing better than to have Mr. Jasper fully aware of our entire transaction.† My transparent sincerity seemed to ease a bit of his tension. â€Å"Very good,† he said. â€Å"And I can’t prevail upon you to stay for dinner?† â€Å"I’m sorry, J. I’m short on time at present.† â€Å"Then, again, my best wishes for your health and happiness. Anything at all the Cullen family needs, please don’t hesitate to call on me, Bella.† â€Å"Thank you, J.† I left with my contraband, glancing back to see that J was staring after me, his expression a mixture of anxiety and regret. The return trip took me less time. The night was black, and so I turned off my headlights and floored it. When I got back to the house, most of the cars, including Alice’s Porsche and my Ferrari, were missing. The traditional vampires were going as far away as possible to satiate their thirst. I tried not to think of their hunting in the night, cringing at the mental picture of their victims. Only Kate and Garrett were in the front room, arguing playfully about the nutritional value of animal blood. I inferred that Garrett had attempted a hunting trip vegetarian-style and found it difficult. Edward must have taken Renesmee home to sleep. Jacob, no doubt, was in the woods close by the cottage. The rest of my family must have been hunting as well. Perhaps they were out with the other Denalis. Which basically gave me the house to myself, and I was quick to take advantage. I could smell that I was the first one to enter Alice and Jasper’s room in a long while, maybe the first since the night they’d left us. I rooted silently through their huge closet until I found the right sort of bag. It must have been Alice’s; it was a small black leather backpack, the kind that was usually used as a purse, little enough that even Renesmee could carry it without looking out of place. Then I raided their petty cash, taking about twice the yearly income for the average American household. I guessed my theft would be less noticeable here than anywhere else in the house, since this room made everyone sad. The envelope with the fake passports and IDs went into the bag on top of the money. Then I sat on the edge of Alice and Jasper’s bed and looked at the pitifully insignificant package that was all I could give my daughter and my best friend to help save their lives. I slumped against the bedpost, feeling helpless. But what else could I do? I sat there for several minutes with my head bowed before the inkling of a good idea came to me. If†¦ If I was to assume that Jacob and Renesmee were going to escape, then that included the assumption that Demetri would be dead. That gave any survivors a little breathing room, Alice and Jasper included. So why couldn’t Alice and Jasper help Jacob and Renesmee? If they were reunited, Renesmee would have the best protection imaginable. There was no reason why this couldn’t happen, except for the fact that Jake and Renesmee both were blind spots for Alice. How would she begin to look for them? I deliberated for a moment, then left the room, crossing the hall to Carlisle and Esme’s suite. As usual, Esme’s desk was stacked with plans and blueprints, everything neatly laid out in tall piles. The desk had a slew of pigeonholes above the work surface; in one was a box of stationery. I took a fresh sheet of paper and a pen. Then I stared at the blank ivory page for a full five minutes, concentrating on my decision. Alice might not be able to see Jacob or Renesmee, but she could see me. I visualized her seeing this moment, hoping desperately that she wasn’t too busy to pay attention. Slowly, deliberately, I wrote the words RIO DE JANEIRO in all caps across the page. Rio seemed the best place to send them: It was far away from here, Alice and Jasper were already in South America at last report, and it wasn’t like our old problems had ceased to exist just because we had worse problems now. There was still the mystery of Renesmee’s future, the terror of her racing age. We’d been headed south anyway. Now it would be Jacob’s, and hopefully Alice’s, job to search for the legends. I bowed my head again against a sudden urge to sob, clenching my teeth together. It was better that Renesmee go on without me. But I already missed her so much I could barely stand it. I took a deep breath and put the note at the bottom of the duffel bag, where Jacob would find it soon enough. I crossed my fingers that – since it was unlikely that his high school offered Portuguese – Jake had at least taken Spanish as his language elective. There was nothing left now but waiting. For two days, Edward and Carlisle stayed in the clearing where Alice had seen the Volturi arrive. It was the same killing field where Victoria’s newborns had attacked last summer. I wondered if it felt repetitive to Carlisle, like deja vu. For me, it would be all new. This time Edward and I would stand with our family. We could only imagine that the Volturi would be tracking either Edward or Carlisle. I wondered if it would surprise them that their prey didn’t run. Would that make them wary? I couldn’t imagine the Volturi ever feeling a need for caution. Though I was – hopefully – invisible to Demetri, I stayed with Edward. Of course. We only had a few hours left to be together. Edward and I had not had a last grand scene of farewell, nor did I plan one. To speak the word was to make it final. It would be the same as typing the words The End on the last page of a manuscript. So we did not say our goodbyes, and we stayed very close to each other, always touching. Whatever end found us, it would not find us separated. We set up a tent for Renesmee a few yards back into the protective forest, and then there was more deja vu as we found ourselves camping in the cold again with Jacob. It was almost impossible to believe how much things had changed since last June. Seven months ago, our triangular relationship seemed impossible, three different kinds of heartbreak that could not be avoided. Now everything was in perfect balance. It seemed hideously ironic that the puzzle pieces would fit together just in time for all of them to be destroyed. It started to snow again the night before New Year’s Eve. This time, the tiny flakes did not dissolve into the stony ground of the clearing. While Renesmee and Jacob slept – Jacob snoring so loudly I wondered how Renesmee didn’t wake – the snow made first a thin icing over the earth, then built into thicker drifts. By the time the sun rose, the scene from Alice’s vision was complete. Edward and I held hands as we stared across the glittering white field, and neither of us spoke. Through the early morning, the others gathered, their eyes bearing mute evidence of their preparations – some light gold, some rich crimson. Soon after we all were together, we could hear the wolves moving in the woods. Jacob emerged from the tent, leaving Renesmee still sleeping, to join them. Edward and Carlisle were arraying the others into a loose formation, our witnesses to the sides like galleries. I watched from a distance, waiting by the tent for Renesmee to wake. When she did, I helped her dress in the clothes I’d carefully picked out two days before. Clothes that looked frilly and feminine but that were actually sturdy enough to not show any wear – even if a person wore them while riding a giant werewolf through a couple of states. Over her jacket I put on the black leather backpack with the documents, the money, the clue, and my love notes for her and Jacob, Charlie and Renee. She was strong enough that it was no burden to her. Her eyes were huge as she read the agony on my face. But she had guessed enough not to ask me what I was doing. â€Å"I love you,† I told her. â€Å"More than anything.† â€Å"I love you, too, Momma,† she answered. She touched the locket at her neck, which now held a tiny photo of her, Edward, and me. â€Å"We’ll always be together.† â€Å"In our hearts we’ll always be together,† I corrected in a whisper as quiet as a breath. â€Å"But when the time comes today, you have to leave me.† Her eyes widened, and she touched her hand to my cheek. The silent no was louder than if she’d shouted it. I fought to swallow; my throat felt swollen. â€Å"Will you do it for me? Please?† She pressed her fingers harder to my face. Why? â€Å"I can’t tell you,† I whispered. â€Å"But you’ll understand soon. I promise.’7 In my head, I saw Jacob’s face. I nodded, then pulled her fingers away. â€Å"Don’t think of it,† I breathed into her ear. â€Å"Don’t tell Jacob until I tell you to run, okay?† This she understood. She nodded, too. I took from my pocket one last detail. While packing Renesmee’s things, an unexpected sparkle of color had caught my eye. A chance ray of sun through the skylight had hit the jewels on the ancient precious box stuffed high overhead on a shelf in an untouched corner. I considered it for a moment and then shrugged. After putting together Alice’s clues, I couldn’t hope that the coming confrontation would be resolved peacefully. But why not try to start things out as friendly as possible? I asked myself. What could it hurt? So I guess I must have had some hope left after all – blind, senseless hope – because I’d scaled the shelves and retrieved Aro’s wedding present to me. Now I fastened the thick gold rope around my neck and felt the weight of the enormous diamond nestle into the hollow of my throat. â€Å"Pretty,† Renesmee whispered. Then she wrapped her arms like a vise around my neck. I squeezed her against my chest. Interlocked this way, I carried her out of the tent and to the clearing. Edward cocked one eyebrow as I approached, but otherwise did not remark on my accessory or Renesmee’s. He just put his arms tight around us both for one long moment and then, with a deep sigh, let us go. I couldn’t see a goodbye anywhere in his eyes. Maybe he had more hope for something after this life than he’d let on. We took our place, Renesmee climbing agilely onto my back to leave my hands free. I stood a few feet behind the front line made up by Carlisle, Edward, Emmett, Rosalie, Tanya, Kate, and Eleazar. Close beside me were Benjamin and Zafrina; it was my job to protect them as long as I was able. They were our best offensive weapons. If the Volturi were the ones who could not see, even for a few moments, that would change everything. Zafrina was rigid and fierce, with Senna almost a mirror image at her side. Benjamin sat on the ground, his palms pressed to the dirt, and muttered quietly about fault lines. Last night, he’d strewn piles of boulders in natural-looking, now snow-covered heaps all along the back of the meadow. They weren’t enough to injure a vampire, but hopefully enough to distract one. The witnesses clustered to our left and right, some nearer than others – those who had declared themselves were the closest. I noticed Siobhan rubbing her temples, her eyes closed in concentration; was she humoring Carlisle? Trying to visualize a diplomatic resolution? In the woods behind us, the invisible wolves were still and ready; we could only hear their heavy panting, their beating hearts. The clouds rolled in, diffusing the light so that it could have been morning or afternoon. Edward’s eyes tightened as he scrutinized the view, and I was sure he was seeing this exact scene for the second time – the first time being Alice’s vision. It would look just the same when the Volturi arrived. We only had minutes or seconds left now. All our family and allies braced themselves. From the forest, the huge russet Alpha wolf came forward to stand at my side; it must have been too hard for him to keep his distance from Renesmee when she was in such immediate danger. Renesmee reached out to twine her fingers in thefur over his massive shoulder, and her body relaxed a little bit. She was calmer with Jacob close.I felt a tiny bit better, too. As long Jacob was with Renesmee, she would be all right. Without risking a glance behind, Edward reached back to me. I stretched my arm forward so that I could grip his hand. He squeezed my fingers. Another minute ticked by, and I found myself straining to hear some sound of approach. And then Edward stiffened and hissed low between his clenched teeth. His eyes focused on the forest due north of where we stood. We stared where he did, and waited as the last seconds passed. How to cite The Twilight Saga 4: Breaking Dawn 35. Deadline, Essay examples

Double Edge Sword Essay Research Paper Double free essay sample

Double Edge Sword Essay, Research Paper Double Edge Sword After the civil war, we had 1000s upon 1000s of people looking for the # 8220 ; American Dream # 8221 ; , and Horace Greeley, who stated the celebrated words # 8220 ; Go west immature adult male # 8221 ; , helped to get down the great migration westward. There was plentifulness of inexpensive land West of the Mississippi, and gold was foud in the West, merely waiting for those who could acquire at that place. The migration finally interfered with the Native Americans, which changed their manner of life everlastingly. Many hapless psyches tried to do it in the West at raising cowss, agriculture, and excavation, but failed. Ther was besides those who made it large with new innovations, difficult work and tonss of fortune. The Native Americans were populating on a valuable plus called land, and the authorities was looking to spread out their territoty to the West. However, the U.S. had to make something with the Native Americans, so they strated to make reserve in hope to avoid land wars between the Native Americans and the new colonists. Tribes were congregated on little reserves ; each folks had their ain civilization and this caused clash among each other. Not to advert, there was already conflicts traveling on with their authorities health professionals. Futhermore, there were church-run embarkation schools, which took the kids off from theirr parents, so they could learnn the White adult male # 8217 ; s manner of life and that merely added to their emphasis. Ultimately, many of the Native Americans died due to conflicts, disease, and the mistreatment on the reserves. For illustration, the Sand Creek slaughter where 450 peaceable Indains were slaughtered. For those who survived, their lives change d everlastingly. In the name of advancement, we took their land and shattered their civilization by seeking to convey them into American # 8217 ; s manner of life. The husbandmans, who migrated due west, found themsevles in a unusual land it was nil that they were used to. The land was level, dry praisie grass, and for the most portion treeless. They had to larn how to biuld sod places, and utilize buffalo french friess for fuel. Planting their harvests was besides hard ; thhe plow they hhad would snarl in the difficult prohibitionist land, and the prairie grass roots were imbedded profoundly into the dirt. They had other jobs. like money, most of them were profoundly in debt due to the high monetary values of goods, and their piece of lands of land were non big plenty to be self-sufficing. In add-on, Mother Nature was really difficult on them with drouths, venue, and grass fires that led to harvest failures. Many of them had to work for other ranchers to do ends meet or travel back to the metropolis and seek to happen a occupation. There come a clip when things strated to look up for the husbandmans. New machines and the railway were heading t heir manner. A adult male name James Oliver invented a plough called the # 8220 ; farmer # 8221 ; that could plough through the tough dirt of the Greaat Plains and interrupt up the obstinate prairie grass roots. Others new innovations that helped the husbandman were the plantation owners and threshingg machines, yet this put many husbandmans deeper in debt, and the little husbandmans could afford them. The railway help the husbandmans by conveying them lumber and other goods, which in many instances they could non acquire otherwise. When the civil war had ended, there was a deficit of cowss, and there were 1000000s of Texas Longhorns rolling free in the West. Many people saw this as a great chance to do large money. Cowboys set out excessively round-up the cowss. Then they would drive them to the Missouri-Pacific railway and direct the cowss east. On the cattle thrusts there were some troubles due to cattle cattle thiefs waiting to assail and holding to travel around farming areas. Cowtowns started starting up across the West every bit far every bit Montana as the railway expanded. The first cow town was in Kansas and the adult male who started it was J. McCory. He bought 250 estates and so he built a stockyard, barn, office edifice, hotel, and bank. Thingss were looking up for the cowss industry, but thhey still had cowss that were died or sick by the clip they reach the East Coast. To repair the job the railway came up with the refrigerated auto, so the cow mans could butcher the cowss before transportation, and ship the beef to the East Coast without spoilage. The cowss were kept on unfastened scope for sometime, until the â€Å"barbed wire wars† started. Ffarmers were intudung on the scope to do their homesteads, as clip went on the cow mans started associations to maintain people off their al ready overstock lands. Then the sheep came on the scene and started to destruct the graze land. This started the scope wars between the husbandmans, shepherds, and cow mans. The new about happening gold rang out across the U.S. and people from all walks of life made a huffy elan to the West to interest their claims. Largely work forces lived in these cantonments and it was a unsmooth topographic point to populate. They had unequal shelter, nutrient and it was frequently violent. Many of them died or they tried to do their interest and return place to the E as fast as they could. Hawhers had moved into the cantonments such as, saloonkeepers, ladies of the dark, criminal, and other indelicate characters, which is manner the lynch jurisprudence justness was off of life for the clip being. After awhile, jurisprudence and order came into drama and excavation became a corporate businenss, so the independent mineworker eitherstarted to work for the corporation or they moved on to something else. These little excavation cantonments shortly became booming towns. After the gold haste in 1849, people started to demand for the transcontinental railway connexions, and influential people were experiencing the presser. The Union Pacific railway was started during the civil war, and the Federal authorities gave land grants to the railway companies to assist them along. As the tracks move westward the husbandmans and cow mans prosper and the transcontinental railway was join in May 10, 1869, to finish the coast-to-coast connexion. Now people and goods could go faster from east to west and they could go safer. However, by the 1870 # 8217 ; s people had gotten worried about the sum of power and certain patterns of the railway companies. Ther came a clip when railway committees with regulative powers started and the U.S. Supreme Court started the Interstate Commerce Commission to regulate regulations upon the railwaies. Great Progress was made during the 19th century. If non for the discovert of gold, it likely would hold taken longer to finish the transcontinental railway. The districts would non hold become States every bit promptly as they were, and Native Americans would hold been left entirely for the clip being. If non for the husbandmans homesteading in the Great Plains, some innovations may hold been invented, like the # 8220 ; farmer # 8221 ; . The demand for cowss in the E made it possible for the refrigerated autos, and the cow towns. However, if non for the railraods would any of these things be possible? Progress is like a dual border blade, and it will cut both ways. We have to be careful non to be cut to deeply by greed.

Transcendentalism Essays (554 words) - Lecturers, Concord

Transcendentalism Transcendentalism was an important movement in literature that occurred during the years of 1836-1860. Ralph Waldo Emerson and Henry David Thoreau were the best-known transcendentalists. Ralph Waldo Emerson gave the German philosopher, Immanuel Kant, the credit for making ?Transcendentalism? a familiar term. Kant had said that there were certain experiences that could be acquired only through ?intuitions of the mind.? In Kant's thoughts, transcendentalism was the knowledge or understanding a person gains intuitively. This, for the most part, sums up all of the transcendental writings that have been written to this day. Both Emerson and Thoreau were very similar in their thoughts on transcendentalism and personalities. Emerson was very strict on his-self and worked to make his writings spiritual. He made it clear that he wanted no followers. Emerson thought that if anyone were to copy his style of writing that the whole purpose would be defeated. He wanted his writings to inspire individuality. Thoreau was rigid and almost military-like. He cared little for group activities, and avoided organized reform movements. Emerson and Thoreau both wrote about how the world had an influence on their soul. They let the nature around them be their inspiration, and they wrote down the effects it had on them spiritually. Ralph Emerson wrote Nature, an essay about his surroundings, and the effect they had on him. Emerson said, ?Its effect is like that of a higher thought or a better emotion coming over me,?.? This quote came from Nature, which he wrote in 1836. Henry Thoreau wrote Walden, a book he wrote after keeping a journal about the nature around him while living at Walden Pond for seven years. Both of these works were prime examples of transcendentalism and its ideas and philosophies. After these works were published, writers started interpreting the idea in their own way. Today, we are still seeing the effects of Emerson and Thoreau in poems and other literature. The effect that nature has on us is, now, often a common thought among many of us. Transcendentalism is something we are well aware of because of Emerson and Thoreau, and their new ideas and theories. I am influenced most by transcendentalism when I sit underneath a clear starry sky on a warm summer evening. When you sit there, you can not help but let your mind wander. You start to realize how small you are compared to the rest of the world. The stars, which are, in reality, large and bright, are only a twinkle in the deep blue sky. While sitting there I take in the peacefulness of the night. You hear the crickets and other animals of the night and are forced to understand that humans are not alone in the world. We are accompanied everyday by so many other species, yet we do not pay attention to anyone but ourselves. I can also see a whole separate meaning and significance of nature, when I take in everything around me. It is not only our surroundings, but it is much greater. Nature has been here since the beginning of earth. The true aspects of nature have always been here. It shows what little amount of time we take up on Earth. We are nothing but a tiny dot on a never-ending time line of life. English Essays

F451-Burning of Books essays

F451-Burning of Books essays In Fahrenheit 451, author Ray Bradbury, made an infamous statement that puts the entire novel into perspective for a reader. His notorious quote, There is more than one way to burn a book, compiles the entire concept that he was trying to portray through the characters. In Fahrenheit 451, the dystopian society that was depicted destroyed books through various methods and tactics. When Bradbury said, There is more than one way to burn a book, he was referring to the fact that the society he depicted in his novel wanted to destroy their one main source of knowledge in order to make everyone think the same. In order to do this, the members of the community burnt books in various ways. Examples such as brainwashing, murder, censorship, and various other methods were used to help burn books. One way of burning a book is to brainwash a person to the point where they no longer need to rely on the knowledge within a book, instead they are absorbed in their own life. For example, Montags wife sheltered herself from the need to get the knowledge from a book. Books at this time were filled with useful knowledge, however Mildred and the rest of the community were so brainwashed that they could not understand what the books were referring to in life. Instead they turned their attention from the books that held so many thoughts and life issues and focused on non-knowledgeable items such as the televised walls. When every single person in the community neglected the knowledge within the books and focused on the same thoughts and ideas, each one of them soon began to think the same, react the same and have the same feelings as one another. They were in a sense, brainwashed into thinking alike. Their minds were not open to the various ideas and thoughts that the books contained. T his in fact was a form of burning books; the brainwashed members ...

Bio u4gp Essay Example | Topics and Well Written Essays - 500 words

Bio u4gp - Essay Example Also contained in the digestive tract is a layer of muscle that helps in the process of breaking down food (The National Institute of Diabetes and Digestive and Kidney Diseases, 2008). In addition to the aforementioned hollow digestive organs, there are also solid organs that produce or store digestive juices to aid in the digestive process. These solid organs are the liver, pancreas, and gallbladder. The liver and pancreas produce digestive fluids that travel to the intestine via ducts. The liver’s digestive juices are stored in the gallbladder until the intestine needs them. Also, there are parts in the nervous and circulatory system that play serious parts in the overall digestive process (The National Institute of Diabetes and Digestive and Kidney Diseases, 2008). Also according to the National Institute of Diabetes and Digestive and Kidney Diseases, â€Å"When you eat foods—such as bread, meat, and vegetables—they are not in a form that the body can use as nourishment. Food and drink must be changed into smaller molecules of nutrients before they can be absorbed into the blood and carried to cells throughout the body. Digestion is the process by which food and drink are broken down into their smallest parts so the body can use them to build and nourish cells and to provide energy.† According to Merck (2008, pg. 1), â€Å"Although an organ has a specific function, organs also function as part of a group, called an organ system. The organ system is the organizational unit by which medicine is studied, diseases are generally categorized, and treatments are planned.† The organ systems within the human body include the cardiovascular, respiratory, nervous, skin, musculoskeletal, blood, digestive, endocrine, urinary, male reproductive, and female reproductive systems. Organ systems do not function by themselves. Instead, they work with each other to accomplish tasks that are needed for the human organism to

Should taxes on alcohol and tobacco be increased to help pay for Research Paper - 3

Should taxes on alcohol and tobacco be increased to help pay for rising medical costs - Research Paper Example Consequently, there are views that these two drugs are legal in the society, yet there challenges to human health are extremely uncontainable. The following discussion sets the basis of the prescribed solution in accordance with the professor’s view, an evaluation of the advantages of the solution, and an argument of the demerits likely to emanate from the tax increments. A critical review of the professor and classmates’ response indicates that the group acquired success to the extent they were able to determine the reasons as to why the society continues to suffer the menace of drug abuse and addiction (Jones, 2011). They indicated alcohol and tobacco as the most abused substances despite the administration setting constitutional constraints to ensure proper or reduced usage rates on them (Brisbin, 2008). The group indicated that most of the people indulge in the consumption of the legalities but health hazardous substances while seeking to relieve themselves from traumas and other types of psychological stresses. Amicably, the response sets a proper basis for the society to decipher vital knowledge on the untamed use of alcohol and tobacco products. In turn, the essay articulates the irresponsible behaviors that obviously pose threats to the society at large. For instance, consumption of alcohol has contributed to the spread of diseases since the consumers, make decisions based on the idealization. While they think that they are right, alcohol consumption impairs ones judgments and these drunks often find themselves in more troubles after realizing their deeds (Berry, 2005). The group indicates that in the absence of increased taxes on the commodities, the users are vulnerable to unprotected sex thus the consequences remain at large while they extend the infections to their spouses too. Therefore, the response seems to be successful as it denotes on the risks

Human Resource Management At Walt Disney World Resort Tourism Essay

Human Resource Management At Walt Disney World Resort Tourism Essay Theres probably no place on earth as magical as the Walt Disney World Resort in Florida. The theme park continues to thrill, delight and exceed its guests expectations nearly 40 years after its opening. The secret to Disneys success is its well-trained, enthusiastic and motivated work force. Its a secret that the founder, Walt Disney himself realized years ago. You can dream, create, design and build the most wonderful place in the world but it requires people to make the dream a reality, he said. A Brief History The Walt Disney World Resort, is the worlds largest and most visited recreational resort, covering 30,080-acres near Orlando, Florida, USA. The resort was founded with the opening of the Magic Kingdom theme park in 1971. It consists of four theme parks, two water parks, 23 resort hotels, lodges and time-share properties, sports facilities complex, and other recreational venues and entertainment. Epcot park was added in 1982, Disneys Hollywood Studios in 1989 and Disneys Animal Kingdom in 1998. This world famous resort was inspired by the dreams of Walt Disney and his creation of Disneyland in California. The resort is the largest single-site employer in the United States, employing 42,000 people, with over 3,000 different job classifications. More than 1000 people work in the security department alone. Hiring Disney is renowned for being a fun and friendly place at which to work. Its ability to offer attractive incentives make it a desirable place to work and it is constantly evaluating the market to ensure their wages remain competitive. All Disney employees participate in training programs that update them on the latest service techniques, product knowledge, and technology being used in their parks. Disney recruit both internally and externally, advertising vacancies on their website, via the press, job fairs, employment exchanges and colleges. There is a large quantity of college students working in Disney. Employment representatives also travel to Puerto Rico to recruit for positions such as housekeeping, custodial and food and beverage. It s 4 major employment strategies are: Hire the right people Develop people to deliver service quality Provide needed support systems Retain the best people Once potential employees have been identified, interviews follow. The skills and abilities that managers generally look for are: Excellent communication skills Good team player Self motivated Analytical ability Problem solver Leadership potential Strong computer skills Project management skills Relationships-builder Able to manage expectations Personal and professional style Strong business judgment Ability to facilitate and multitask A guest service orientation Disney theme parks promise to provide a superior service in order to create a à ¢Ã¢â€š ¬Ã‚ ¦imaginary world where visitors can escape the themes of the real world. To achieve this, the company has to employ people with the proper skills and personalities, who are also motivated, with a clear knowledge of the companys marketing objectives and strategies. Staff have to be polite, well dressed, energetic, enthusiastic, and people-loving, always serving guests whole-heartedly. All staff are provided with an extensive knowledge of the park facilities, rides, and sites. HRM Practises Disney believes in investing in its staff and provide various training programs and learning opportunities for employees to work their way into higher positions. The company promotes from within 70% of the time. Almost everyone including the managers start out in an entry-level hourly job (Disney almost completely promotes from within). There is a program to help hourly workers who want to become part of management, there is another that lets them transfer to the technical unions like plumbers and electricians as an apprentice. That program involves four years of training leading to a very well-paid job. Disney also give educational reimbursement for those who are continuing their education while working for Disney full-time. Supervisors try to create a family-like atmosphere in Disney by offering flexible schedules and on-site day care programs for working parents. . The company also host numerous special events for its employees that are held in the park after hours. Present day human resources practices at Disney are considered to be extraordinary, with all staff being trained in excellent customer satisfaction policies. However HR practices were very poor in the early years of Disney. The Walt Disney Company originated back in 1923, when Walt and Roy Disney started their first animated recording studio. Early animation production was highly labour-intensive. Rigid division of tasks was further delineated on gender lines. By 1941, the Walt Disney Company employed 1,100 people. Ellwood (1998) describes Walt Disney as a notorious workaholic, a perfectionist who pushed his staff relentlessly. Both paternalistic and domineering he rewarded loyalty and punished dissidents. There were no women or black people promoted to senior positions during this period. The company was the only Hollywood studio without union representation and as such was targeted by the American Federation of Labour. Eventually, animators took industrial action over conditions an d lack of recognition in 1941. By the end of the 1990s, the Walt Disney Company had developed into a $23 billion media conglomerate. Cast Members Employees in Disney are called cast members. Quality cast members are a direct result of quality hiring practices. Bonuses are paid to workers who refer new hires. Disney believes its important to have people who have actually worked in different parts of the company, to do the hiring. So these cast members working in the casting office, come from all different parts of the Disney organization, and work on 12-month assignments. While prospective cast members wait for their initial interviews, they watch a short video that describes the interview process and outlines what the company expects of them, if theyre successful. Once hired, all new cast members go through the same 1 and a half day training program called Traditions. Its here they learn the basics of being good cast members, from Disney history to direction on how to meet and exceed guest expectations. Cast members learn they must adhere to the companys strict 13 page manual of dress codes, known as the Disney Look. The Disney Look is a rigid code of cast member appearance that imposes a well-scrubbed, all-American look. It details the size of earrings allowed, to the size of finger nails, to the no tolerance rule regarding facial hair and dyed hair for both females and males. Disneys grooming standards make sense when you consider employees to be part of a cast of characters so there is no room for non-conformity. Every employee is instructed in the Seven Guidelines to Guest Service which highlights the need to smile and to be cheerful. From the very start, staff are encouraged to implement a have a nice day! mentality, and to smile the Disney smile all day. Casting Employees are routinely assigned jobs according to age and appearance, a process officially known as casting. The most presentable get the most popular front-line jobs and shifts. For example: Young and pretty workers get jobs that involve a lot of interaction with customers; Haitian women generally work in housekeeping; Older women sell in the shops Older men work in security Puerto Recons work in food preparation African Americans work as stewards or cooks, More than a 100 Africans are employed in the Animal Kingdom, to lend authentic flavour. Anyone who might appear less presentable work on the night shift Cast Members receive some excellent benefits including: Health, Dental, Life Insurance Complimentary Theme Park Passports Learning and Development Opportunities Paid holidays, vacations, and sick days Retirement plan. Scholarship Program 30% Discount on park merchandise Employee Stock Purchase Program Access to a Cast Member-only lake and recreation area with tennis, volleyball, and an Olympic-size swimming pool. Educational Reimbursement Educational Matching Gifts Program Service Awards Employee Cast Member Contests Childcare Centres Credit Unions Employee Stores Cast Members usually work 40 hours or more each week, with quality service being the responsibility of every one. Each one measures service quality levels, establish benchmarks and set goals, as there is no person in charge of quality. Instead of one quality director, Disney has 42,000 of them. (Paton S. M. Service Quality, Disney Style, Quality Digest) Disney University Many hours have been devoted to designing successful employee universities which train workers in the Disneyland philosophy. Walt Disney established the Disney University to teach these unique skills. The University provides cast members with free world-class training in diverse skills including computer applications, professional development, management/leaderships development, health safety, interviewing, business, etc. Empowerment Disney is committed to employee empowerment. Employees are empowered to resolve all guest issues on their own, with managers only getting involved in extreme circumstances. Managers use service measurement teams to empower employees. 1 or 2 employees from each department take note of any service issues that might take from a guests stay at the resort. By keeping records of every problem, and how it was dealt with, helps to reduce the chances of it happening again. To keep up-to-date with their guests expectations, Disney also collects huge amounts of data about guests from opinion polls, surveys, focus groups etc. From this information, the company know that the top three things that guests expect are for the parks to be clean, friendly and fun. Every worker, from the CEO to cleaner, know these 3 expectations well, and is empowered to make them happen. All employees know, too, the definition of quality at Disney: Disney defines quality as attention to detail and exceeding guest expectations. Performance Appraisals Management use performance appraisals and performance surveys, to measure internal service quality. The annual performance appraisal is designed to give the employee a broad perspective of his/her accomplishment from the previous year and to identify upcoming challenges. Another strategy employed by managers to deliver service quality, are monthly development action plans. (DAPs) (Zeithaml and Bitner, 2000) Rewards Disney certainly know the true value of retaining productive employees. Annual turnover amongst its employees is only 20%. This low turnover is made possible by treating employees like resort guests, and the extensive employees reward programs, Disney offers. There are in excess of 50 different reward and recognition programs, that are geared towards maintaining high employee morale, the most prestigious award being the Partners in Excellence program. This award involves one employee nominating another employee (who has excellent attendance and no disciplinary action record). The nominated employee then receives a bronze statue of the company founder, Walt Disney, and is invited to a dinner ceremony where he/she is individually recognized for his/her outstanding accomplishments by company executives. Disney also rewards employees through service pins, attendance awards, and Recognition-O-Grams (ROGs). Recipients usually wear service pins on their uniforms, which they receive service pins on their first, fifth, tenth, twentieth and twenty-fifth anniversaries. Attendance awards are also offered to employees after one, three, five, ten and fifteen years of perfect attendance. The awards range from honorary certificates to a $2000 gift certificate. Recession hits  Disney Theme Parks Like many other industries, the entertainment industry has been affected by the world economic downturn. Early this year, Disney reported a 32% drop in net income for its fiscal first quarter of 2010, attributing the results to the recessions effects on its studio, television and parks. The Walt Disney Co. axed 1,900 jobs from its theme parks in California and Florida. Walt Disney World in Orlando eliminated 1,400 jobs. The original Disneyland Resort in Anaheim, California, axed 300 positions. The rest of the jobs were eliminated at the companys corporate headquarters at Burbank. These decisions are not made lightly, but are essential to maintaining our leadership in family tourism and reflect todays economic realities, said Mike Griffin, a Walt Disney World spokesman. Those laid off received a 60-day paid administrative leave, a severance package that is based on their years of service, extended medical benefits, and job placement. According to the Los Angeles Times: Disney is bracing for an extended downturn as people skip theme parks to save money. The recession, and the recent decline, has really hit the theme park industry, but it has hit the destination parks more than the regional parks, People are staying closer to home, the newspaper said. Trade Unions Workers are represented by 34 unions, the biggest being the Service Trade Council Union (STCU), The STCU represents about 22,000 F/T and 5,000 P/T workers at Disney World. The SEIU is part of the STCU, a consortium of six trade unions that is the only group certified to bargain with the Disney company. In the last two years alone, Disneyland Resort has successfully negotiated nine agreements with the union. These agreements included wage increases, sick pay and access to seven affordable and reliable health care plans offered through Disneys Signature benefits package for full-time cast members. Conclusion This essay looked at the human resource practises that have been adopted at Disney in order to maximize the delivery of superior guest services. Reasons for the companys success include emphasis on customer service, and a focus on the elements of efficiency, courtesy, show, and safety. It has shown how employee strategies at Disney lead to the attainment of exceptional service quality. Disney takes a lot of care with its casting department and regularly assess its pay packages and new ways of recruiting. It offers a competitive package of wages and incentives to its staff, such as free park admission and discounts on park merchandise. In the past, Disneys theme parks has been fairly recession-proof. But this year, fewer people found their way to the Magic Kingdom as profits were down from 2008-10. Disney said the company manages its operation based on demand, and like any other business it is subject to the ups and downs of the economy Its important that management stress to workers that employee development and empowerment is an on-going process, as the actions of empowered employees have enabled Disney to develop a lasting relationship with millions of guests worldwide. The human resource department must continually develop successful recruiting strategies and effective reward and recognition programs to maintain high morale and promote teamwork.

Amazon PORTER’S FIVE FORCES MODEL

AMAZON. COM PORTER’S FIVE FORCES MODEL Bargaining power of suppliers The power of suppliers is medium-high. Suppliers have a medium power in the sense that much of Amazon’s own inventory could be obtained from numerous suppliers across the country or even across the globe. Suppliers have a higher power given that Amazon. com cannot compete with suppliers. Amazon. com does not run any production plants. Bargaining power of buyers The bargaining power of buyers is high. Amazon. com’s customers have the option of buying the products and services they desire on the hundreds of thousands of other retail web sites on the internet.If Amazon. com does not offer low prices to satisfy the customer then the customer will search the Internet until they find that low price. Rivalry among competing firms Despite Amazon. com is one of the first companies into the e-commerce field, rivalry is high (Barnes and Noble  , Google, Walmart, Ebay etc. ) Threats of substitute products Amazon. com has innovated their services and products along the years and the name of amazon. com is well recognized and trusted into the field, but still the threat for substitutes is high (Books can be purchased at Barnes and Noble Books, Books-A-million, and Half Price Books.Books are additionally sold at newsstands, drugstores, and discount stores. Books can also be borrowed for free at university libraries, music can also be purchased at discount retailers) Threats of new entry Threat of new entrants is low. It would be virtually impossible for a new company to reach the magnitude of inventory and status that Amazon. com maintains. Amazon. com has been in the internet marketplace for about thirteen years now- it would be extremely difficult for a start-up company in the industry to raise enough capital to even compete with Amazon. com on a lower level.

Booker T vs Washington

Booker T Washington and W. E. B Du Bois offered different strategies for dealing with the problems of poverty and discrimination faced by black Americans at the end of the 19th and beginning of the 20th centuries. By using my knowledge of the documents and my knowledge of the period 1877-1915, I was able to asses the appropriateness of each of the strategies in the historical context in which it was developed. I came to the conclusion that Booker T Washington’s strategy was more appropriate for the time period 1877-1915 then was W. E. B Du Bois’ strategy. A summarization of Booker T Washington’s strategy presented in The Atlanta Compromise Address or â€Å"Document D† would be to say that he wanted all black Americans to learn trades. He wanted them to pass on those skills, and use those skills so their families could have a better life. â€Å"Cast down your bucket where you are†¦while doing this you can be sure in the future, as in the past, that you and your families will be surrounded by the most patient, faithful, law-abiding, and un resentful people that the world has seen. †-Document D. This excerpt from the document basically says that when we are taught a specific trade and teach it to our families, they can in turn be successful and live good lives in the future. Because of you learning this skill and in turn teaching it to your family, they will be better off. A summarization of W. E. B Du Bois strategy can be described as ceaseless agitation stated in â€Å"The Niagara Movement†- â€Å"The Niagara Movement proposes to gain these ends†¦. If we expect to gain our rights by nerveless acquiescence in wrong, then we expect to do what no other nation ever did. What must we do then? We must complain. Yes, plain, blunt complain, ceaseless agitation, unfailing exposure of dishonesty and wrong- this is the ancient, unerring way to liberty, and we must follow it. †-Document F I disagree with his strategy for the period 1877-1915 for he only thought about a small number of the black race, the top ten percent. He was going to send them to Harvard and some how they were going to become the intelligence for the black race as a whole. This also appoints only specific figures as a mini government of the black race. Mainly in Booker T Washington’s proposal, it just seems as if he included the whole race as opposed to W. E. B’s proposal pertaining to only a small select few. By looking at the â€Å"School Enrollment Graph† in Document A, it seems as if the W. E. B strategy would have a better chance of working in a later time period. In the time period of 1877-1915, there really were not a lot of black Americans enrolled in school. The rate does rise; showing that after 1915 there would be a much better chance of any percent of Black Americans getting into college. I can also be seen in Document B-â€Å"Illiteracy by Race†, that Black people were becoming more and more literate, allowing them to thus go to college. It appears that in the ladder of the time period we are discussing, that there is a much larger opportunity for black Americans to go to college and progress while there, than there is a chance for them to go to go to college in the beginning of the time period being discussed. Another reason it seems the Booker T Washington’s way is more appropriate is because it worked. By looking at Document C- â€Å"Lynchings by Race†, the amounts of black lynchings were becoming more and scarcer. This is perceived by me in a number of ways. First off, black Americans were learning skills now by the way of Booker T, and were not only becoming smarter, but they were becoming more important to other persons. Their skills were needed by others which not only gave people a reason not to lynch them, but it also introduced many people to more black Americans, thus putting a personal perspective of actually knowing someone. A person would much rather lynch someone that they did not know personally, than someone that they get potatoes from. In Document G, Booker T is praised by T. Thomas Fortune, a black activist and newspaper editor who writes about BTW in the nationally circulated black periodical, â€Å"Christian Recorder. He is spoken of as a man whose value is impossible to estimate. His work involving Tuskegee College is hailed for having 400 students, great teachers, splendid farm equipments, stock-raising, fruit culture, laundry work, practical housekeeping, blacksmithing, wheelwrighting, carpentering, and more, all this while a normal school system is maintained. â€Å"No time is wasted on dead languages or superfluous studies of any kind. What is practical, what will best fit these young people for the work of life, and that is taught, and is aimed at. This shows that his approach was actually working and this is evidence enough for me to say that I believe by using my knowledge of the documents and my knowledge of the period 1877-1915, I was able to asses the appropriateness of each of the strategies in the historical context in which it was developed. W. E. B just might have been a little before his time with his views. Maybe later when the literacy rate would be higher and more black Americans were being accepted to college, his idea could have worked, but there would be many smart and skilled black Americans all from the concept given by Booker T Washington.

Exponential Generalized Autoregressive Conditional Heteroskedascity Finance Essay - Free Essay Example

Sample details Pages: 7 Words: 2069 Downloads: 1 Date added: 2017/06/26 Category Finance Essay Type Narrative essay Did you like this example? This study investigates the effect of exchange rate volatility on the stock market in Malaysia, and also determined whether other macroeconomic variables have an effect on stock market volatility. In this study, the Exponential Generalized Autoregressive Conditional Heteroskedascity (EGARCH) model which is created by Nelson (1991) was used to measure the volatility of exchange rate and volatility of stock market. EGARCH model is an extension of widely used model, GARCH. Don’t waste time! Our writers will create an original "Exponential Generalized Autoregressive Conditional Heteroskedascity Finance Essay" essay for you Create order It used monthly time series data for 3 years period between January 2009 until December 2011. The result of this research found that, exchange rate volatility have negatively relationship with stock market returns where, in the long-run, depreciation in currency value will cause an in increase in stock market return. While in the short-run, depreciation in currency value will reduces stock market returns. This study also reveals that, other macroeconomic variables such as interest rate, and inflation also affect stock market volatility. 1.0 Introduction Stock market is the main institution in every country around the world because from the position of the stock market itself, people can measure the efficiency and the effectiveness of the economy in that country. Macroeconomic variables for example, exchange rate, interest rate, inflation rate, capital investment, money supply, and industrial production have been steadily rising due to combination of internal and external factors. Growing inflation will lead pressurize interest rates to rise higher, and this kind of situation may result in investors moving from the equities market to the bonds market to get higher return (CMA,2011). Interest rate, inflation and exchange rate are the most important determinant of countrys relative level of economic performances. Any changes in these factors will give big consequences in economic performances whether in short-run or long-run. Exchange rates play a vital role and it become one of the important economic factor that affect the common stock market (Hyde,2007,Vazz et.al.,2008). Besides that, any change in exchange rates might affect business field. It may causes an increases or decreases in price of product sold abroad and price of imported raw materials also may change. This will lead to the changes in price of competitors product in home market and indirectly, this will affect stock market return. Firms profitability, price stability, and countrys stability also will be affected because of exchange rate volatility since exchange rate volatility have real economic cost (Benita,Lauterbach,2004). Theoretically, the relationship between exchange rate and stock market can be proved positively, negatively, or either a weak or no relation at all. In a positive way, currency depreciation will makes the local firm more competitive which leading to an increase in exportation as a result while in a negative way, if a production is dependent on imported product, cost of production will increase as a result of currency depreciation, thus reduce profitability and this condition lead to a decline in stock returns. Whereas, there is a weak or no relation between exchange rate and stock market if an export oriented firms prices rises with currency depreciation since input cost is also affected by this currency depreciation than the effect would be nullified to some extent because of increases in cost of production. Many researchers have noted that stock market volatility changes over time and these changes is relate to the changes in macroeconomic variables (Officer, 1973). Other macroeconomic variables also can influences investors decision whether to make an investment or not and indirectly, this will affect stock market return whether in the short-run or in the long-run. Arbitrage Pricing Theory (ATP) , developed by Ross (1976), Chen et al (1986) is an example of study about how to capture the effect of economic forces on stock returns in different countries. This study used some macroeconomic variables to explain the stock returns in US stock markets. The authors found that changes in risk premiums, changes in terms structure, and industrial production are positively related to the expected stock return while, both anticipated and unanticipated inflation rates were negatively related to the stock returns. The paper begins with a general introduction about the exchange rate and stock returns and also a little bit about macroeconomic variables. Section two focuses more on the literature review while Section 3 explain about data and methodology used in this study. The last section present the findings and conclusion. Problem statement Stock return volatility has become the important thing that has been given full attention in the financial sector around the world. This is because, fluctuation in macroeconomic variables will give big impact on stock return volatility, thus will affect economy stability. Poon and Tong (2010), stated that high volatility of stock return is attributable to high risk, and since most investors are risk averse, they will stay away from the market due to the uncertainty in expected returns. High market volatility will also increase unfavorable market risk premium. So, it is difficult for policy maker to reduce the stock market volatility and finally enhance economy stability. There is need to determine factors affecting stock market volatility with some evidence from past researchers indicates that exchange rate fluctuations give a big impact on stock return volatility while some others contradicting. Objectives This study is to determine the following : Whether the exchange rate volatility give an impact on Malaysia stock market volatility, If other macroeconomic variables have effect on stock market volatility in Malaysia. LITERATURE REVIEW Relationship between Exchange Rate Volatility and Stock Market Volatility There are two main theories that relate the interaction between exchange rate and stock market. First, the flow-approach models (Dornbusch and Fischer,1980 and Gavin, 1989) and the other one is stock-approach models (Branson, 1983 and Frankel,1983). Flow-approach models state that the exchange rate is mainly determined by trade flows of an economy. The models point out that, any changes in exchange rate will affect trade balance and this will give impact on the real macroeconomic variables and indirectly, it will affect stock prices. Any changes in stock price on the stock market also will affect aggregate demand through wealth, liquidity effects and exchange rate. Generally, we can say that, the reduction in stock prices will reduces wealth of local investors and further reduces the liquidity in the economy. The reduction in liquidity will lead to the reducing in interest rates which in turn induce capital outflows and in turn will causes currency appreciation. On the other side, wh en currency depreciation occurs, this condition will make local investors become more competitive, and leading to an increase in their exports and indirectly will raises stock prices. Consequently, the flow-approach model suggests a positive relationship between exchange rates and stock prices, thus will result in stock market volatility. On the other hand, stock-approach model are based on the assumption that the demand and supply of financial assets such as equities and bond will reflect the exchange rate. Stock-approach models can be differentiated into the portfolio monetary model and balance model. The portfolio balance model shows that there exist negative relationship between exchange rate and stock price and that stock prices affect exchange rates (Frankel,1983 ; Branson and Henderson,1985). The expectations of relative exchange rate volatility have a significant impact on price movements of financially held assets. Thus, stock price volatility may influence or be influenced by exchange rate volatility. For example, if Ringgit Malaysia depreciates against foreign currency (for example, the US dollar), it will increase returns of the foreign currency (US dollar). This situation will encourage local investors to move funds from domestic assets (stocks) towards US dollar assets, which is depressing stock prices. Thus, a depreciating in currency value will give negative impact on stock market returns (Adjasi and Biekpe,2005). This models also state that, individuals hold domestic and foreign assets, including currencies, while exchange rates plays the vital role of balancing the demand and supply of the assets. Increasing in the domestic stock prices leads individuals to demand more domestic assets and in order to purchase more domestic assets, local investors have to sell foreign assets since they are relatively less attractive, causing local currency appreciation. Consequently, the relationship between exchange rate and stock price is negative. The study about the relation between exchange rates and stock prices have been explored by many researchers around the world. Soenen and Hennigan (1988) proved that, there are negative correlation between these two variables, exchange rate and stock prices. However, Frank and Young (1972) found no significant relation between these two variables and Jorion (1990) found a moderate relationship between the stock returns of US multinational companies and the effective US dollar exchange rate for the period 1971 to 1987. The analysis of relation between exchange rate and stock prices in US have been made by Bahmani-Oskooee and Sohrabian (1992). Their study found that, there are no long-run relationship among these variables but a dual casual relation in the short-run. Also, Abdalla and Murinde (1997) studied about the relationship between stock price and exchange rates in the emerging financial markets in few countries such as India, Korea, Pakistan and Philippines and they found these t wo variables does not have any significant interaction in India, Korea, and Pakistan. However, in Philippines it is contrary because the reverse causation was found in that country. Besides Bahmani-Oskooee and Sohrabian, Ong and Izan (1999) and Smyth and Nandha (2003) also agreed that there is no long-run relationship between exchange rate and stock price. Relationship between other Macroeconomic Variables and Stock Market Volatility Further, this study also found that, other macroeconomic variables such as interest rate and inflation rate also effected stock market volatility. VECM (Johansen, 1998) was applied to analyze the relationship between Japanese Stock Market and exchange rate, inflation rate, money supply, real economic activity, long-term government bond rate, and call money rate (Mukherjee and Naka, 1995). Their study concluded that there existed co-integrating relation and that stock price contributed to this relation. While, study that have been made by Maysami and Koh (2000) found that changes in short and long term interest rate, inflation, money supply growth, and variation in exchange rate result in a co-integrating relation with changes in economy in Singapore and all these factors affect stock market levels in that country. In related studies, Mao and Kao (1990) revealed that, there is another issue regarding the interaction between stock prices at the macro and micro level. They also found exporting firms stock price become more sensitive to the fluctuation in foreign exchange rates. In their findings on macro level, Ma and Kao revealed that a currency value appreciation give negative impact on domestic economic market for an export-dominant country while it gives positive impact on the domestic stock market for an import-dominant country, which seems to be consistent with good market theory. 2.2.1 Interest Rate Volatility and Stock Return Volatility Chen et.al indicated that interest rate had a positive effect on stock return while Wongbangpo et al(2002) observed interest rate had a negative effect on southeast Asian countries. Rapach et.al(2005) stated that interest rate was the most reliable variable but however, Chen et.al(1998) thought interest rate does not linked to the with stock return. In addition, Jefferis and Okeahalam (2000) proved that stock market in South Africa, Zimbabwe, and Bostwana are negatively influenced by the long-term interest rate when they investigated relationship between stock prices and selected macroeconomic variables. An increase in interest rate will lead to the increase in required rate of return and then will cause the share price to decrease and increasing in interest rate also will effect opportunity costs of holding cash, and this would lead to a reducing in stock prices. French et.al(1987) concluded that the stock returns responded negatively to both the long term and short term interest rates. However, studied that have been made by Allen and Jagtianti (1997) found that the sensitivity of interest rate toward stock returns has decreased dramatically because of invention of interest rate derivatives contracts used for hedging purposes. 2.2.2 Inflation Rate Volatility and Stock Return Volatilty Inflation rate can be defined as the rate of increase of a price index and it also the percentage ratio of change in price level over time. Studies by Fama and Schwert (1977), Chen, Roll and Ross (1986), Nelson (1976) and Jaffe and Mandelker (1976) pointed out a negative correlation between inflation and stock prices. Besides that, the movement in inflation and real output have weak predictive power on volatility of stock market and return (Schwert,1989) while Yaya and Shittu (2010) in their findings stated that the previous inflation rates has significant effect on conditional stock market volatility. These result are in agreement with Fishers effect in international stock market.