A Study on Job Satisfaction of Employee

A STUDY ON JOB SATISFACTION OF EMPLOYEES CONTENTS |Sl. No. |Title |Page No. | |1. Introduction |1 – 5 | | | |Statement of the Problem |1 | | | |Objectives of the Study |1 | | | |Scope and Significance of the Study |2 | | | |Research Methodology |2 | | | |Limitations of the Study |4 | | | |Chapteraisation |4 | |2. Profiles |6 – 17 | | | |Industry profile |6 | | | |Company profile |8 | | | |Product profile |13 | |3. |Theoretical Framework |18 – 28 | |4. |Analysis and Interpretation |29 – 40 | |5. |Findings and Recommendations |41 – 42 | |6. Summary |43 | | |Bibliography | | | |Appendix | | LIST OF TABLES |Table |Description |Page No. | | | | | |4. 1 |Score of Various Attributes |30 | |4. 2 |Score of Various Attributes |31 | |4. |Score of Various Attributes |32 | |4. 4 |Score of Various Attributes |33 | |4. 5 |Gender of Respondents |34 | |4. 6 |Educational Qualification |35 | |4. 7 |Experience of the Respondents |36 | |4. 8 |Age of the Res pondents |37 | |4. |Marital Status of the Respondents |38 | | | | | LIST OF FIGURES |Figure |Description |Page No. | | | | | |4. 1 |Score of Various Attributes |30 | |4. 2 |Score of Various Attributes |31 | |4. 3 |Score of Various Attributes 32 | |4. 4 |Score of Various Attributes |33 | |4. 5 |Gender of Respondents |34 | |4. 6 |Educational Qualification |35 | |4. 7 |Experience of the Respondents |36 | |4. 8 |Age of the Respondents |37 | |4. |Marital Status of the Respondents |38 | | | | | Chapter I Introduction Introduction ? Statement of the problem ? Objectives of the Study ? Scope and Significance of the Study ? Research Methodology ? Limitation of the Study ? Chapterisation Chapter III THEORETICAL FRAMEWORK Chapter IV ANALYSIS AND INTERPRETATION Chapter V SUMMARY, FINDINGS AND RECOMMENDATIONS Chapter VI SUMMARY APPENDIX BIBLIOGRAPHY Chapter IIPROFILES Industry Profile ? Company Profile ? Product Profile INTRODUCTION A study was conducted at, WESTERN INDIA PLYWOODS, VALAPAT TANAM, the largest integrated wood processing complex in the country on Job Satisfaction of the employees. Job satisfaction is a set of favorable or unfavorable feelings and emotions with which employees view their work. Job satisfaction is an affective attitude — a feeling of relative like or dislike toward something. Job satisfaction typically refers to the attitudes of a single employee. STATEMENT OF THE PROBLEM Western India Plywoods has been incurring losses in the last few years. Health, knowledge, skill level etc. f employees are significant factors that can influence the fate of an organization. The causes of business failure may be internal and external, mostly by people related issues. This study attempts at finding the current level of job satisfaction of employees at Western India Plywoods and what it means for its turnaround. OBJECTIVES OF THE STUDY Main Objective The main objective is to study the satisfaction level of workers with respect to various factors. Su b-Objectives ? To study the employee perception about personnel policies. ? To identify ways of improving job satisfaction, if possible. SCOPE AND SIGNIFICANCE OF THE STUDY The study is limited to the workers at the WESTERN INDIA PLYWOODS.It is conducted with the objective of finding various factors affecting the job satisfaction of workers in the company. This study in its practical and theoretical sense will help the management in assessing the satisfaction level of the workers. Job satisfaction of the employees is the major concern of every organization. Dissatisfied employees is a major threat to the company causing a decline in every functions of the company. So the study on the job satisfaction of the employees gains more importance and significance in the sense that it affects productivity and hence the existence of the company. RESEARCH METHODOLOGY Research Design . The study conducted at WESTERN INDIA PLYWOODS was descriptive in nature.It aims at portraying accurately the c haracteristics of a group or situation. Sampling Design The technique adopted for the sampling is convenient sampling . Sample Size and population The workers of Western India Plywoods constituted the population for the study. It has 900 permanent workers. The sample selected for the study is limited to 50 for convenience. Study Variables The following variables were selected for the study ? Gender of respondents ? Age of respondents ? Educational qualification ? Experience of employees ? Time spent with family ? Wage level ? Opinion about promotion policy, job security, recognition, work place relationship, etc was also included. Methods of Data CollectionData were collected from both primary and secondary sources. Primary data were collected from the workers by means of Questionnaire and the secondary data were compiled from past records, journals and the Internet. Tools of Data Collection Questionnaire was prepared to collect the relevant data. Major variables such as promotional factors, motivational factors, personal factors and environmental factors were considered while preparing questionnaire. The questionnaire was prepared after an initial discussion with a few employees, HR manager, trade union representatives etc. For the questionnaire, closed -end questions were used. Data Analysis and InterpretationThe data analysis and presentation were done using mean, chi-square test, frequency tables, bar charts and pie-diagram. LIMITATIONS OF THE STUDY ? Chances of bias from the respondents cannot be neglected. ? Qualitative study poses a problem of proper articulation of feelings and emotions. In an organizational context superior behaviour may also affect quality of responses. CHAPTERISATION Chapter I Introduction deals with â€Å"introduction to the study†, â€Å"Statement of the Problem†, â€Å"Objectives of the Study†, â€Å"Scope and Significance of the Study†, â€Å"Research Methodology† and â€Å"Limitation of the S tudy†. Chapter II Profile deals with â€Å"Industry Profile†, â€Å"Company Profile†, and â€Å"product profile.Chapter III, â€Å"Theoretical Framework† of job satisfaction Chapter IV, Analysis and Interpretation deals with the analysis and interpretation of the data collected from the respondents. Chapter V Summary, Findings and Recommendations deals with findings from the analysis and the suggestions based on the findings. CONCLUSION This chapter we presented the problem, objectives, scope and significance of the study. The research methodology and limitation of the study were also mentioned . The next chapter deals with profile of the company, its products and markets. INDUSTRY PROFILE INTRODUCTION According to archeologist, man’s cultural progress can be traced in the art of wood veneering.Relics, found in Egypt and Chinese tombs dating from 2002 BC indicate that veneering combines art and science. The 14th century witnessed the revival of art and brought to veneering a new figure and beauty. Today modern machinery and mass production technique produce veneers that are used to build nearly 80% of furniture. PLYWOOD INDUSTRY The necessity of making plywood arises out of the inherent defect in wood plywood in an engineered wood panel . made from thin layer of wood veneers assembled with grain direction of adjacent veneer as right angled to each other with layers of synthetic resins, adhesive and pressed under high heat and pressure, thus imparting a great degree of strength.It is dimensionally stable and strongest sheet material to weight ratio . It is technically designed to be strong and stiff enough to safely replace more than three times thick solid timber for the same use. It appears, plywood industry has become an innocent victim of gross misconception. The unfounded impression that this industry is exerting pressure on our natural resources is factually incorrect. It is in total disagreed to its excellent role as an economic substitute of solid wood and thus prevention of natural forest and ecology. Strangely enough the government desires that the use of aluminium, steel and plastic as substitute of solid wood in buildings may be encouraged.Similarly other substitute like wood based board and medium densified fiber board are claiming their superiority over plywood in terms of its functional use and ecology conservation role. PRODUCT PROFILE The company produces traditional general-purpose commercial and decorative plywood. In addition to that the company proudly presents an exciting range of specially plywood panels and materials for specific applications. 1. WESIND FIRE RETARDANT PLYWOOD This plywood is ideal for residential and non-residential building, transportation vehicles etc. This plywood meets the British Standards Specification and has been certified by the British Standard Institute. 2. WESTIND FIRE RETARDANT PLYWOODExperts in the aviation field have acclaimed this extra ordinary pr oduct of the Company for its unparalleled quality. This product has earned the recognition of the Directorate of Civil Aviation, Government of India, on its introduction itself. 3. WESTIND MARINE PLYWOOD Made of special category timber, this highly durable plywood ensures smooth sailing of vessels in the harsh marine environment. 4. WESTIND RESIN COATED PLYWOOD BWR plywood is coated with a special grade phenolic resin coated plywood's impart a superior finish to the concrete surface and avoid the tedious and expensive plastering operation. 5. WESTIND FLOORING BOARDS These boards have been developed using veneer hard board laminates.The boards have been given a social water repellent treatment and the unique is that they can be cut to nay size to suit the requirement of the floor area. It can be directly laid on a raw concrete floor by applying a thin coat of suitable adhesive. 6. WESTED FURNITURE WESTERN INDIA PLYWOOD specializes in exquisite and molded plywood furniture, which will exceed your expectations regarding strength and durability. WESTIND furniture is manufactured utilizing the finest building material available in the market. It is a matter of pride to WIP that the loose furniture in the Leela Goa project was entirely supplied by the company. It is made with a judicious blend of solid timber and composite panels to optimise strength and cost.The company adopts ultra modern technology to give the products of lasting value and elegance. 7. WESTED SUPTER BLOCK BOARDS Bonded with phenolic resing to produce by a special process with extra core. This product is free from warping and surface undulation. It is a superior to conventional block board and particle board. Its more stable than conventional block boards and its nailing and screw holding properties are superb. 8. WESTING COMPREG Densified and super toughened wood panel products made from veneers impregnated with synthetic resin adhesive and pressed at elevated temperatures and pressures. ? WIPWOO D – for textile and jute mill looms. ? WIPROC – for press forming tools in sheet metal and Aeronautical industries. WIPLAC-panels for rail coach furnishing. ? WIPBEAR-for rolls bearing application ? WIP FILTER PLATES AND FRAME WORKS – for filtration in Chemical industries. ? WIPCHECK-compressed floor board for Automobile, industrial and rail coach furnishing. ? WIPCOM-for high and low voltage insulation in air or in an oil bath. COMPREG MOULED CHAIR SEATS – for EMU rail coaches, Auditorium, Theatres and restaurants. The introduction of WIPLAC and a host of other innovative products underlie the company's commitment to the industry and provide reason for the luminous reputation in the country's larges integrated wood product company enjoys in domestic and international markets.In 1978, WIP set up a plant for manufacturing Di-ally phthalate molding powder, a thermo set which had to be imported with them. Significantly, the technology was developed in house with support from Shree Ram Institute of Industrial research, Delhi. In 1989, the Company put up a pre-finishing plant for direct printing wood grains and plain colours onto hard boards and plywood using radiation curved surface finishes. The pre-finishing plant is the only one of its kind in the country and one of the few in the world. All the raw materials and processes employed in the plant are 100% Eco-Friendly. The company's products are exported to quality conscious markets around the world. MARKETSThe Company has been passing through acute problems for sourcing good raw materials, the price of which increases almost on a daily basis. The main raw material for the company, i. e. , timber, is being exported and here again the company has no control over the price, which varies from shipment to shipment. The company has also no control over the levies being made by Central State Government. Also, the steep increase in cost of imported raw materials, the high power tariff and the ever increasing cost of Furnace oil and other petroleum products collectively put together rendered the company's products uncompetitive in the market. CONSERVATION OF ENERGY The energy conservation measures taken are as follows:Installed variable frequency drives for mating conveyors in No: II Hard board line to eliminate components like brakes, clutches, V-belts and inching motors. By retaining the existing motors, considerable power saving has been achieved. Optimized cooling tower operation by retrofitting and introduction of energy savers in cooling fans Installed level monitoring, closed loop control system for white water chest, and achieved optimisation in white water usage. Introduced automatic Delta Star running system for partial loaded motors in plywood and hardwood plants. The company has also achieved 100% utilization of source raw materials due to its integrated production system. Therefore, it would be apt to call the Western India Plywood's Ltd. â€Å"the company with a conscience. THEORETICAL FRAMEWORK INTRODUCTION In this chapter theoretical aspect of job satisfaction is recorded. Job satisfaction reflects the extent to which people find gratification or fulfillment in their work. Job satisfaction is a combination of psychological and environmental factors that make a person to admit, I am happy at my job. Extensive Research on job satisfaction shows that personal factors such as individual's needs and aspirations determine his attitude, along with group and organizational factors such as relationship with co-workers and supervisors, working conditions, work policies, and compensation. DEFINITIONWe can define job satisfaction as involving cognitive, affective and evaluating reactions or attitudes and states it is a pleasurable or positive emotional state resulting from the appraisal of one's job or job experience. Job satisfaction is a result of employee's perception of how well their job provides those things that are viewed as important. Through the years five job dimensions have been identified to represent the most important characteristics of a job about which employees have affective responses. These are: ? The work itself: The extent to which the job provides the individual with interesting tasks, opportunities for learning and the chance to accept responsibility. Pay: The amount of financial remuneration that is received and the degree to which this is viewed as equitable that of others in the organization. ? Promotional opportunities. The chances for advancement in the organization. ? Supervision: The abilities of the supervisor to provide technical assistance and behavioral support. ? Co-workers: the degree to which fellow workers are technically proficient and socially supportive. There are number of factors that influence job satisfaction. However the main factors are: I. PROMOTIONAL FACTORS Promotional opportunities seem to have a varying effect on job satisfaction. This is because promotions take a numb er of different forms and have a variety of accompanying rewards.For example, individuals who are promoted on the basis of seniority often experience job satisfaction but not as much as those who are promoted on the basis of performance. A promotion is the transfer of an employee to a job which pays more money or one that carries same preferred status. A promotion may be defined as an upward advancement of an employee in an organization to another job, which commands better pay/wages, better status/prestige, and higher opportunities/challenges, responsibility, and authority, better working environment, hours of work and facilities, and a higher rank. A promotion is a vertical move in the rank and responsibility. Involved in a promotion may be some measure of skill; and responsibility. Promotions are usually given: ?To put the worker in a position where he will be of greater value to the company and where he may derive increased personal satisfaction and income from the work; ? To re cognize an individual's performance and reward him for his work so that he may have an incentive to forge ahead. Employees will have little motivation if better jobs are reserved for outsiders. ? To increase an employee's organizational effectiveness; ? To promote job satisfaction among the employees and give them an opportunity for unbroken, continuous service; ? To build up morale, loyalty, and a sense of belonging on the part of the employees when it is brought home to them that they would be promoted if they deserve it; ?To attract suitable and competent workers for the organization. II. MOTIVATIONAL FACTORS There is no doubt that motivation is the key to the promotion of proper good human relations. The term â€Å"motivation† was originally derived from the Latin word movere, which means â€Å"to move†. We can define motivation as an inner state that energises, activates, or moves (hence ‘motivation'), and that directs or channels behavior towards goals. Thu s motivation is a general term that applies to the entire class of energy, drive, tension and similar forces. The studies can be classified under two groups, on the basis of convenience and simplifications, viz. , traditional theories, and modern theories.The traditional theories are based on mostly the â€Å"human relations approach† in management, with little attention to psychological processes that occur. This approach was based upon three simple assumptions: ? Personnel primarily are economically motivated and secondarily desire security and good working conditions. ? Provision of the above rewards to personnel will have a positive effect on the morale. There is a positive correlation between morale and productivity. III. PERSONAL FACTORS Personal factors comprises name, age, sex, marital status, experience, spending time with the family are the personal factors affecting the level of job satisfaction.Age: The relationship between age and job satisfaction could be comple x generally one would expect that as the person gets older greater would be his job satisfaction level because of the experience and the case with which he would he will be able to perform his work Education: The relation between job satisfaction and education is based on how his educational qualification helps him to meet the job requirements and how he is able to utilize to earn additional promotion or a fare salary. However it is reasonable to assume that the more educated would be more frustrated. Years of experience: The relation between job satisfaction and years of experience is such that a new employee would be more satisfied with his job because of the enthusiasm of the work but these gradually decrease and increases when he reaches the stage of retirement as there is no other alternative opportunity available to him IV. ENVIRONMENTAL FACTORSInterpersonal relationship with supervisor-There seems to be two dimensions of supervisory style that affect job satisfaction. One is employee centeredness, which is measured by the degree to which a supervisor takes a personal interest and cares about the employee. It commonly is manifested in ways such as checking to see how well the employee is doing. The other dimension is participation or influence, as illustrated by managers who allow their people to participate in decisions that affect their own jobs. In most cases, this approach leads to higher job satisfaction. A participative climate created by the supervisor has a more substantial effect on worker's satisfaction Interpersonal relation with work groups will have an effect on job satisfaction.Friendly, co-operative co-workers or team members are a modest source of job satisfaction to individual employees. The work group especially a â€Å"tight† team, serves as a source of support, comfort, advice and assistance to the individual members. A â€Å"good† work group or effective team makes the job more enjoyable. However, this factor is not job satisfaction. On the other hand, if the reverse condition exists the people are difficult to get along with this factor may have a negative effect on job satisfaction. Working conditions have a modest effect on job satisfaction. If the working conditions are good (clean, attractive surroundings for instance), the personnel will find it easier to carry out their jobs.If the working conditions are poor (hot, noisy surroundings for example), personnel will find it more difficult to get things done. In other words, the effect of working conditions on job satisfaction is similar to that of the work group; there may or may not be a job satisfaction problem. Hertzberg’s motivation and hygiene factors are relevant in job satisfaction. If the workers get adequate opportunity to hear and to be heard by the top management it can be a source of job satisfaction. This observation has been subscribed by Vroom while he holds that there exists a relationship between job satisfaction and opp ortunity for self-express. [pic]A MODEL OF JOB SATISFACTION The model of job satisfaction is presented below: EXPECTATIONS ACTUAL ABOUT JOBSCONDITIONS DISCREPANCIES PAYPAY WORK ITSELFWORK ITSELF PROMOTIONSPROMOTIONS COWORKERSCOWORKERS WORKING CONDITIONSWORKING CONDITIONS SUPER VISORSSUPER VISORS EMPLOYEE JOB SATISFACTION Basically, job satisfaction is determined by the ‘discrepancy’ between what individuals expect to get out of their jobs and what the job actually offers. A person will be dissatisfied if there is less than the desire amount of job characteristics in the job. For instance if a person expects to be promoted in six month and then is not, the person will be dissatisfied.A person will be satisfied if there is no discrepancy between decide and actual conditions. If it is more than the employee expected of some job factor and the excess is beneficial (e. g. a large bonus, faster promotion) then the person will be very highly satisfied. Job Satisfaction And Pro ductivity Historically the concept of human relations assumed that high job satisfaction led to high productivity but later research indicated that this was an incorrect assumption. Satisfied workers turned out be either high producers or low producers only on average producers. The satisfaction-productivity relationship appeared to quite complex being influenced by various intermediate factors such as rewards than an employee receives.The question has often risen whether job satisfaction leads to performance of performance leads to job satisfaction. Lawler and Porter have developed a model that suggests that productivity leads to satisfaction. According to them, performance leads to reward and if these are perceived to equitable employee, satisfaction is the result. The assumption, which seems most realistic, is that satisfaction and productivity are in a circular relationship in which each affects the other. From the various studies a general relationship emerges between job satis faction and productivity as shown in figure Relationship between Job satisfaction and Productivity [pic]Here in X, Y graph where X = Productivity and Y = Job satisfaction Line A = High Job satisfaction and Less Productivity Line B = High Job satisfaction and High productivity Lind C = High productivity and less job satisfaction. Here ‘line C’ of chart shows the conditions of high productivity and low job satisfaction which can be occur when the supervisors push the production through techniques of scientific management such as methods study, time study and close supervision. C. B MAMORIA – PERSONNEL MANAGEMENT ‘Line A’ represents a condition which believes that satisfied workers are the best workers and try to keep workers happy regardless of the affects on organizational goals.In this condition, the worker may derive such job satisfaction, but work may be done. One supervisor describes this condition, as â€Å"my workers due so happy that they donà ¢â‚¬â„¢t feel like my working†. The middle ‘line B’ appears to be the most desirable agreement-where high satisfaction and high productivity are combined together CONCLUSION In this chapter the theoretical aspects of job satisfaction were discussed. Major variables such as promotional factors, motivational factors, personal factors and environmental factors were considered . The relationship between job satisfaction and productivity was also described. The next chapter gives analysis and interpretation of the survey data. ANALYSIS AND INTERPRETATION INTRODUCTIONIn this chapter the analysis of the collected data is shown. Analysis of data is made possible through Frequency Tables, Bar Charts, Pie-diagram, and Chi-Square test. Information is interpreted in percentage forms. Scoring method is also used to find the score of various attributes. Mean of various attributes are also shown. In scoring method score is given to the options for example. Score given to Strongl y agree, agree, no opinion, disagree, strongly disagree is +2, +1,0, -1, -2 respectively. Mean: mean is the most common measure of central tendency and can be defined as the value of various given items in a series by the total number of items. Mean = (fx / (f TEST OF HYPOTHESISThe test of hypothesis is a process of testing significance regarding the parameter of the population on the basis of the sample. Chi-Square test is used to test the significance of the parameters of the population. Formula for Calculating X2 : [pic] Where O = Observed Frequency, E = Expected Frequency, Degree of Freedom = (C-1) (R-1) Table: 4. 1 SCORE OF VARIOUS ATTRIBUTES |SI NO |ATTRIBUTES |SCORE | |1 |Standard of living |0. 6 | |2 |Promotion policy |-0. 4 | |3 |Job security |0. 64 | *Source: survey data From the table we can find that the score of standard of living is 0. 6 and the score of promotion policy is -0. 54 while job security got 0. 64. Figure 4. 1 SCORE OF VARIOUS ATTRIBUTES [pic] The above ta ble is shown in graph. From that we can see that the graph of promotion policy came to the negative side. Majority of the employees are not satisfied with the promotion policy. They have the opinion that the present job has improved their standard of living and they think that their job is secure. Table 4. 2 SCORE OF VARIOUS ATTRIBUTES SI NO |ATTRIBUTES |SCORE | |1 |Appreciation |-0. 38 | |2 |Suggestion |0. 08 | |3 |Salary |-0. 3 | *Source: survey data From the table we can find that the score of appreciation from superiors is -0. 38. The score of salary is -0. 3 Figure 4. 2 SCORE OF VARIOUS ATTRIBUTES [pic] The above table is shown in graph. From that we can see that they are not getting appreciation from the superiors. The superiors are not inviting suggestions from the employees. The salary given to them is not adequate. Table 4. 3SCORE OF VARIOUS ATTRIBUTES |SI NO |ATTRIBUTES |SCORE | |1 |Better job prospect |-0. 6 | |2 |Job change |-0. 02 | |3 |Skill |-0. 32 | |4 |Time spent w ith family |0. 5 | *Source: survey data From the table we can find that the score of desire to change the present job is -0. 02.Utilization of skill got a score of -0. 32 while the time spent with family got 0. 5. Figure 4. 3 SCORE OF VARIOUS ATTRIBUTES [pic] The above table is shown in graph. From that we can analyse that majority think that they don’t have a better job prospect as per their qualification. They don’t want to change the present job. Majority are having the opinion that their skills are not properly utilized. They are getting enough time with their family. Table 4. 4 SCORE OF VARIOUS ATTRIBUTES |SI NO |ATTRIBUTES |SCORE | |1 |Trade union activities |0. | |2 |Welfare measures |0 | |3 |Working condition |0. 44 | |4 |Relationship with co-workers |0. 82 | *Source: survey data From the table we can find that the activities of trade union got 0. 4 as its score, while working condition scored 0. 44. the relationship with co-workers scored 0. 82. Figure 4. 4 S CORE OF VARIOUS ATTRIBUTES [pic] The above table is shown in graph. The employees are having a nice opinion about the trade union activities and working condition. A healthy relationship exists between workers and their superiors.The welfare measures provided by the company are not adequate. Table: 4. 5 GENDER OF RESPONDENTS |SI NO |SEX |FREQUENCY |PERCENTAGE | |1 |Male |41 |82 | |2 |Female |9 |18 | *Source: survey data From the table we can analyze that 82% of the employees are male and 18% is female Figure 4. 5 GENDER OF RESPONDENTS [pic] The same date is shown with the help of pie-diagram. From that we can see that majority of the respondents are male. Table: 4. 6 EDUCATIONAL QUALIFICATION SI NO |EDUCATION |FREQUENCY |PERCENTAGE | |1 |SSLC |39 |78 | |2 |HSC |8 |16 | |3 |GRADUATION |3 |6 | |4 |PG |0 |0 | *Source: survey data The educational qualification of respondents is shown in the table. 78 % of the workers have education up to school level and 16% of them are having education al qualification HSC . 6% of the respondents are graduates. Figure 4. 6 EDUCATIONAL QUALIFICATION [pic] The above table is shown in graph. From that we can interpret that majority are having their education up to school level. Table: 4. 7 EXPERIENCE OF THE RESPONDENTS |SI NO |EXPERIENCE |FREQUENCY PERCENTAGE | |1 |0 to 10 |8 |16 | |2 |10 to 20 |27 |54 | |3 |20 to 30 |10 |20 | |4 |30 to 40 |5 |10 | *Source: survey data Mean experience= 17. 4 The experience of respondents is shown in the table. 54% of them are having experience between 10 to 20 years. 16% comes under the range 0 to 10. Only 10 of them have experience above 30 years. Figure 4. 7 EXPERIENCE OF THE RESPONDENTS [pic] The above table is shown in graph. From that we can see that majority are having experience between 10 to 20 years. Table: 4. 8 AGE OF THE RESPONDENTS SI NO |AGE |FREQUENCY |PERCENTAGE | |1 |21 – 30 |12 |24 | |2 |31- 40 |32 |64 | |3 |41 to 50 |4 |8 | |4 |above 50 |2 |4 | *Source: survey data Mean age = 36 From the table we can see that 64%of the respondents come under the age group 31 to 40 Figure 4. 8 AGE OF THE RESPONDENTS [pic] The same data is shown in the graph. Table: 4. 9 MARITAL STATUS OF THE RESPONDENTS SI NO |MARITAL STATUS |FREQUENCY | | | | | | | | | | |PERCENTAGE | |1 |Married |35 |70 | |2 |Single |15 |30 | *Source: survey data The marital status of the employees is shown in the table. We can see that 70%of the employees are married. Figure 4. 9: MARITAL STATUS OF THE RESPONDENTS [pic] The same data is shown with the help of graph. Chi- square is a non parametric test that has assumed great importance in statistical analysis and statistical inferences because it can be used without making assumptions about parameters, as it is a distribution free test.Chi-square is a measure which evaluates the extent to which a set of the observed frequency of a sample deviates from the corresponding set of the expected frequency of the sample. RELATIONSHIP BETWEEN EXPERIENCE AND WAG ES H0=There exist no significant relationship between experience and wages H1= There exist significant relationship between experience and wages | |Wages | |Experience |Agree |Disagree |Total | |0 to 20 |12 |23 |35 | |20 to 40 |7 |8 |15 | |Total |19 |31 |50 | O |E |O-E |(O-E)2 |(O-E)2/E | |12 |13. 3 |-1. 3 |1. 69 |. 1271 | |23 |21. 7 |1. 3 |1. 69 |. 0779 | |7 |5. 7 |1. 3 |1. 69 |. 2965 | |8 |9. 3 |-1. 3 |1. 69 |. 1812 | |Total |. 6827 | Calculated Value of X2=. 6827Degree of freedom = 1 Table value at 5% level of significance =3. 841 As the calculated value is less than the table value the null hypothesis is accepted. The test of hypothesis reveals that there is no significant relationship between experience and wages. Those with more experience are not paid higher. Conclusion Analysis of collected data is shown in this chapter. Analysis of data is done by Frequency Tables, Bar Charts, Pie-diagram, and Chi-Square test. Information is interpreted in percentage forms Findings and reco mmendations are given in the following chapter. FINDINGS ? Majority of the employees are not satisfied with the promotion policy. The present job has improved their standard of living to some extend. ? Majority have the opinion that their job is secure. ? The employees are not getting adequate salary and the appreciation from their superiors is not satisfactory. ? Majority have the opinion that their skills are not fully utilized. ? The employees have a nice opinion about trade union activities and working condition. ? A healthy and relationship exists between workers and their superiors. The welfare measures provided by the company are not adequate. ? Majority of the respondents at WIP were male. ? Majority of the workers have education up to school level. ? Main experience of the workers at WIP is 17 years. Most of the workers fall in the age group of 31-40 mean age is 36 years. ? The test of hypothesis reveals that there is no significant relationship between experience and wages . Those with more experience are not paid higher. RECOMMENDATIONS ? It is advisable that the company should pay sufficient attention in providing monetary benefits to the employees ? The Management should take some initiative to enhance the welfare measures ? The employers should duly recognize and appreciate the efforts taken by the employees. It will give motivation to the employees ? It was found that the more experienced workers are not paid higher and thus resulting in employee dissatisfaction.It is advisable that the company should take some initiative to implement new wage system in which experience gets more importance. ? Timely promotions would greatly help the workers as they feel recognized. ? Valuable suggestions made by the workers should given due consideration. SUMMARY The findings generated by the analysis of data resulted in the following conclusions. This study finds that personal factors like experience, time spend with the family affect the level of job satisfact ion. Further analyses of data revealed that organisational factors like wages, reward, job security; role of job in increasing the standard of living affects the level of satisfaction.This study shows significant relationship between wages and standard of living Additionally this study reveals that managerial factors like ability, suggestions for improvement, relationship with superiors and co-workers contributes to the level of satisfaction. This study also indicates that working condition, role of trade union, welfare measures affects the level of satisfaction. BIBLIOGRAPHY Books Referred 1. VSP RAO, HUMAN RESOURCE MANAGEMENT, EXCELL BOOKS, NEW DELHI, 2000. 2. MAMORIA C. B. ; GANKAR S. V. ‘PERSONNEL MANAGEMENT TEXT AND CASES. HIMALAYA PUBLISHING HOUSE, MUMBAI 2004. 3. BISWAJET PATTNAYAK, HUMAN RESOURCE MANAGEMENT EXCELL BOOKS, NEW DELHI, 2000 4. KOTHARI C. R. RESEARCH METHODOLOGIES, WISHWA PRAKASHAN PUBLICATION, NEW DELHI, 1999. Websites www. questionpro. com www. wipltd. co m. INTERVIEW SCHEDULE A Study on Job Satisfaction of Employees Conducted at Western India Plywoods, Valapattanam 1. My job is secure Strongly agree(Agree(Disagree( Strongly disagree(No opinion( 2. I get comparatively better salary Strongly agree(Agree(Disagree( Strongly disagree(No opinion( 3. I usually get appreciation from superior officers Strongly agree(Agree(Disagree( Strongly disagree(No opinion( 4. They encourage me to offer suggestions for improvement of my establishment Strongly agree(Agree(Disagree( Strongly disagree(No opinion( 5.My job improved my standard of living Strongly agree(Agree(Disagree( Strongly disagree(No opinion( 6. I had a better job prospect as per my qualification. Strongly agree(Agree(Disagree( Strongly disagree(No opinion( 7. I like to change my present job Strongly agree(Agree(Disagree( Strongly disagree(No opinion( 8. I am satisfied with the relationship with my superiors and co-workers. Strongly agree(Agree(Disagree( Strongly disagree(No opinion( 9. My skills are completely utilized Strongly agree(Agree(Disagree( Strongly disagree(No opinion( 10. I am satisfied with the trade union activities. Strongly agree(Agree(Disagree( Strongly disagree(No opinion( 1. Company provides number of welfare measures. Strongly agree(Agree(Disagree( Strongly disagree(No opinion( 12. I have a convenient working condition. Strongly agree(Agree(Disagree( Strongly disagree(No opinion( 13. Your opinion about present promotion policy Strongly agree(Agree(Disagree( Strongly disagree(No opinion( 14. I get enough time to look after my family Strongly agree(Agree(Disagree( Strongly disagree(No opinion( 15. Name: 16. Sex: 17. Age:21-30(31-40(41-50(Above 50( 18. Educational qualification SSLC(HSC(Graduation(PG( 19. Experience 0-10(10-20(20-30(30-40( 20. Marital Status Married(Single( ———————– C B A 21 – 30

Massacre of the Dreamers

Ana Castillo, the author of â€Å"Massacre of the Dreamers: Essays on Xicanisma† explores the 500-year old roots of Chicano feminism in America. Her collection of short essays dedicated to the issues of Xicanisma is aimed to denounce discrimination, the stereotypes and exploitation of Chicanos in the U.S. She begins her collection of essays by the phrase â€Å"I am a brown woman, from the Mexican side of town† and continues the confession with the astonishing confession, – â€Å"At an early age we learn that our race is undesirable† (Castillo, 1994). Chicanos â€Å"have been marginalized in every sense of the word by U.S. society† (Castillo, 1994). Probably, it seems too terrible to be true, but this what Ana Castillo asserts.The writer imitates no standard and generally accepted literary style of those times. The essays have no lack in tension, strength and dynamics. Ana Castillo doesn’t deviate from the theme, despite being limited by gende r bounds. This woman wrote the book in the course of important cultural and social changes; therefore Massacre of the Dreamers deserves detailed exploration. It is apparent, that Mexican-American literature cannot but place emphasis on social, feminist and racial issues. In this regard Castillo’s collection of essays can be called a perfect example of the literature of ‘resistance’. Ana Castillo tells not only about the loss of culture and land, but also the role offered to Mexicans. The ‘promised paradise’ turned into the land of changes and struggle for national identity.Ana Castillo evidently created her unique literary work at the intersection of numerous factors of social, political and cultural life at that time. The ‘historical chronicle’ brings the reader closer to the understanding of deep philosophical, social and political conflicts, patriarchal prejudices, gender stereotypes, nationalism, racism, the interests of influential academic structures of American society and mass media. Massacre of the Dreamers is notably complex, contradictory and ambiguous; it reflects the change in stereotypes, transformation of cultural and social space in U.S.The success of Castillo’s book can be explained not only by the ability of the author to tell the stories of Chicano movement, but, above all, by the ideological pathos of her essays. Ann Castillo tells the stories of discrimination and racism. She reminds that changes in social status and structure of people of Mexican origin created social and political prerequisites for mass movement of protest – Chicanos.The Chicanos movement was shaped in the image and likeness of any other movements; the ideology was based on the fact that Mexican Americans were people deprived of right for their territory. These people were treated like the objects of political and economic exploitation, and the second-rate nation. The writer dwells on inequality in economic, soc ial, political and cultural life of America, on long-standing discrimination in sphere of employment, focusing attention on high unemployment and crime rates, to mention a few.Ann Castillo dwells on the issues of language discrimination. Although Mexican Americans spoke Mexican language, in contrast to other ethnic groups, the system of education refused to take into account the peculiarities of â€Å"Spanglish† nation. The vast majority of Chicanos had to leave schools with no education necessary to get a qualified job. The language barrier was the main obstacle on their way.Ann Castillo brings the understanding that Chicanos accepted no ‘melting pot’ theory, according to which Mexican Americans had to refuse from their culture, language and traditions. The writer presents a proof of revolutionary consciousness and testimony, signaling real hope and inevitable changes. She even criticizes a ‘white feminism’, traces ancient Mediterranean roots for ma chismo, explores the moral dualism, repression of sexuality, and fear of death.Ann Castillo demands justice, writing that â€Å"When we profess a vision of a world where a woman is not raped somewhere in the United States every three minutes, where one of every three female children does not experience sexual molestation, where the Mexican female is not the lowest paid worker in the United States–we are not male-bashing or hating whites because overall they live a healthier life than we do, we are trying to change the facts of our condition† (Castillo, 1994).Massacre of the Dreamers can be compared with an ‘alternative’ letter, which is set off against patriarchal culture of that time. Ann Castillo’s literary style is a multilevel and dynamic system. The basis of her writing is feminist social and even literary movement, as well as radical changes in social conscience, attempt to overcome ‘masculine’ diktat, racism, the feeling of infer iority, gender stereotypes and clichà ©s. It seems that the writer’s main idea is to offer the alternative – not a mere equality, but creative cooperation and complementarity of cultures.Ann Castillo treads on forbidden ground. She dwells on problematic relationships between Chicanos and Americans, the issues of power and superiority of nations. She tells on correlation between racism both in literature and real life. The writer criticizes patriarchal culture with its racist’s values, and places emphasis on the necessity of self-realization through creative work. She strives for language expressiveness and makes an effort to create the independent Mexican American character.Massacre of the Dreamers sends a challenge to traditions, rules and stereotypes. Probably, she is not the first writer, who tries to express the history of Mexican Americans in U.S. but she is the first feminine writer, presenting a collection of the most acute and detailed literary confessi ons.Ann Castillo created the most brilliant and sometimes ironical essays. Although she writes from a palette consisting almost exclusively of grey and mud brown gloomy tones, she is extremely frank describing all nuances of Chicanos and their movement, their desires, fears, emotional experiences and doubts.ReferencesCastillo, A. (1994). Massacre of the Dreamers: Essays on Xicanisma. Albuquerque: University of New Mexico Press.

Reflection ( Global Media ) Assignment Example | Topics and Well Written Essays - 500 words

Reflection ( Global Media ) - Assignment Example Old types of media were not as effective as new media. The increasingly powerful role of social media and the internet were proved to influence everything around. It did not take long to spread information all over the world. As a result, some people took advantage of new media and shared biased information with others in order to benefit from it. One more trend is media was greatly explained by the You Tube assignment. The site which was used to post short videos became a huge educational database. I was impressed by the fact that full documentaries and mane educational tutorials could be found easily. You Tube videos could not substitute tutor in the classroom; at the same time, they provided great support and additional sources for information for all people who were interested in the task. Media became more realistic. Online communication can lead to real consequences and suffering. Cyber bullying cases showed to what extent life online can become real for some people. Unfortunately, there current legislation cannot stop the cases of cyber bullying which are harmful for many people and especially teenagers. People need to remember that their online activities can hurt; even though online personalities are different from people who create them, they still remain personalities who deserve understanding and respect. The content of the course was very motivating for every student. Activism assignment stimulated creative thinking in all participants. Moreover, it was a nice opportunity to apply cultural diversity knowledge practically. Communication via internet was quick and effective. It was amazing to understand that people from all around the world could communicate at their usual pace without any delays related to bad network connection or other technical issues. Overall, this course can become a solid knowledge platform

Reflective Communication Audit Essay Example | Topics and Well Written Essays - 4000 words

Reflective Communication Audit - Essay Example It determines what is working well, what is not, and what might work better if adjustments are made†. An organization communicates with its stakeholders and public in variety of situations. The strategy of the company in respect of all manners of communication, oral, written or actions needs to be designed to convey its philosophy and values to the stakeholders and public. The purpose of this study is to reflect upon and analyse the communication practices, processes and issues that are evident in TESCO, which is the third largest retail chain in the worth with its head quarters in the UK. Organisational background Started as grocery retail in the UK, TESCO has transformed into a multinational company over the period of time, with retailing in clothing, furniture, electronic goods and many other goods including petrol which are regularly bought by households or businesses. It has also entered into financial services, software and telecom. The company is listed in LSE and includ ed in FTSE 100 Index. Therefore, communication in such a geographically and functionally diversified company needs to be structured to achieve the objectives or goals with limited misunderstanding and conflicts. The slogan â€Å"The Tesco Way† seeks to portray the manner in which the company wants the public to remember its philosophy and values, and in a sense, it is a message to the public. The company’s innovations like installation of camera and self-service tills in the stores could be considered as reactions in tune with the technological developments. Also, these changes communicate a message to the customers about TESCO’s desire to improve the level of service. The Balanced-scorecard system implemented in TESCO unites the group’s resources at all levels. Communication audit would be useful and effective in monitoring of the operations including risk management on a balanced basis in relation to various divisions and the stakeholders could be augme nted. According to the TESCO’s website, the  Ã¢â‚¬ËœVision’  is for Tesco to be: Most highly valued by the customers we serve, the communities in which we operate, our loyal and committed staff and our shareholders A growth company A modern and innovative company Winning locally, applying our skills globally This vision statement and one of its stated strategies ‘to put our responsibilities to the communities we serve at the heart of what we do’ seeks to communicate its commitment to its stakeholders which includes community as well. The intense competition in the retail sector in the UK and globally necessitates advanced planning and formulation of effective strategies in achieving its corporate objectives. The expansion of the business into new products and services calls for coordination of its various activities at all levels. It also underlines the need for an integrated communication policy for a sustained development in the long run. Communicati on in an organization has several dimensions and is complicated unless it is coordinated with high standards of efficiency and audited on a regular basis. Communication audit The standard of living of the people has been increasing over the period of time which results into changes in tastes and fashions and shorter product life cycle. This is an important factor especially in retail business of TESCO and Communication audit would be useful in evaluating the communication strategies adopted by the company to make

Critically Assess the Claims That Animals, Particularly Chimpanzees, Essay

Critically Assess the Claims That Animals, Particularly Chimpanzees, Have a Humanlike Understanding of Mental States - Essay Example This paper stresses that there are many debates between scientists over theory of mind and do animals have one? Those who are primatologists and other observors of animal behaviour term theory of mind ‘Machiavellian intelligence’, ‘metarepresentation’, ‘metcognition’, ‘mind reading’ and ‘pan’ or ‘pongo-morphism’. Now a researcher who would use the term ‘mental state attribution’ is likely to believe law-like generalisations underlie mental state ascription. This report makes a conclusion that the report states, ‘theory of attention in which organisms are subjectively connected to the world not through any particular sensory modality such as vision but rather through other (as-of-yet unspecified) behavioural indicators’. As observed, behaviour is not always valid indictor of having a theory of mind. Hence it will not be obvious to the untrained individual if or not chimps have a human like understanding of mental states. In research like povinelli’s ‘reasoning about beliefs, a human specialisation?’ a very striking point is brought up that ‘theory of mind is unique to our species, and that its original function was to provide a more abstract level of describing ancient behavioural patterns (such as deception, reconciliation, and gaze following)-behaviours that humans share in common with many other species.’ This material sheds knew light on what we thought we knew bout the human mind’ s ‘theory of mind’.

Should the U.S. intervene in the Syria conflict Essay

Should the U.S. intervene in the Syria conflict - Essay Example Also, U.N. Secretary General Ban Ki-Moon remarked, â€Å"After nearly two years, we no longer count days in hours, but in bodies. Another day, another 100, 200, 300 dead,† (p.4). The rapid death rate has also been abundantly documented by Human Rights Watch, the U.N. Independent International Commission on Inquiry on Syria and Amnesty International. All have charged the regime of Assad with a state sanctioned policy ‘crimes against humanity’ and ‘war crimes. Besides, the UNHCHR and Navi Pillay have appealed to the U.N. Security Council several times to refer the country to the International Criminal Court (ICC) (Hashemi and Postel, p.4). Syria’s ghost of conflict has been on the limelight of the world for about two years but there seems to be no consensus on how to address the disaster completely. The U.S., the E.U., the U.N. and the Middle East nation-states are mystified on how to cease Syrian conflict (Hashemi and Postel, p.5). Several politics and moral arguments have emerged lately concerning the intervention of the U.S. in addressing conflict of Syria. This paper will justify the involvement of the U.S. in Syrian conflict and refute some of the opposing arguments against the intervention. First, through sending of its forces to Syria, the U.S. could alleviate massive slaughtering of Syrian civilians. The U.S. has to intervene for humanitarian purposes and to prevent a similar occurrence in the future. Morgan-Russell (p.1) argues that in 1994, the international community watched as Rwandan Hutu group armed with machetes massacred the Tutsi community across the country. Despite the fact that the U.S. and human rights observers provided evidence on the heinous acts, the U.S. came to a decision that it had no permanent interests in the African Great Lakes Region and that deploying few soldiers would be extremely risky. After three months, about 900,000 Rwandans were massacred. The international community blamed the U.S.

Critically discuss the leadership and change management theories Essay

Critically discuss the leadership and change management theories within the case study - Essay Example Biogen Idec is a global biotechnology company that has transformed greatly in the past 25 years to become one of the largest companies in the world. Through mergers with other companies, it has developed into a big company with presence in most parts of Europe and America. Currently, the company is on the verge of changing its operations in order to improve the performance of the company. Managing change is an important aspect of the organization in order for them to remain competitive by responding the market needs. The concept of organizational change and leadership management require a lot of concern since any mistake may lead to big losses (Styhre, 2002; Charlton & Andrew, 2004). Organizations operate in increasing competitive and chaotic global business environment and thus it should form a major focus of the business management. This is because there is enough evidence that about 70% of organizational changes fail to yield enough fruits as projected by the management (Burnes & Jackson, 2011). A properly structured organizational change should thus take full care of content, people, and process since they are the determinants of success or failure of such an initiative (Myungweon, 2011). Leaders are the formulators and implements of any organizational change; hence, they should be responsible for the success or failure of such initiatives (Aaron & Elizabeth, 2012). Leaders are also important to the change process since they create and develop an acceptance culture of change in the organization and develop the ability to achieve such as change as projected by the company (Northouse, 2012). Change Models Kotters 8 Steps The use of Kotters method is evident in the change undertaken by Biogen Idec Inc since they began their initial step of organizational change by conducting research and creating urgency for change. In this method, organization change can be effectively managed using a dynamic 8-step approach that includes increased urgency, building grid team s, get the right vision, communicate for a buy in, enable action, create a short term win, don’t let up, make it stick. The steps are further divided into three phases whereby the first phase is creating a climate change; the second phase is engaging and enabling the whole organization while the last step entails implementing and sustaining the change (Hayes, 2010). Creating urgency This is the first step of Kotters change model whereby he argues that creating urgency enables the members know what they really want and develop a sense of urgency around the need for change. In the case of Biogen Inc, the headquarters in Paris was responsible for all finance, legal, Human resources, and commercial activities of the organization, making the decisions slow and bureaucratic. The urgency created by the management is upon realization that this type of organizational structure is slowing decision making and at times leading to erroneous decisions. They thus needed a structural model t hat can quicken decision making of the managerial functions to avoid several errors that may inhibit the development of the company. Creating urgency helps spark the initial motivation of the workers so that they respond by getting things moving in the direction of change. It involves showing people the poor performance of the organization and increased competition that threatens the existence of the company. Kotter (2012) argues that about three quarters of the organization management needs to support the change initiative for it to be successful hence, the need for creating urgency must be very strong. Form a powerful coalition After the worker have seen the need for change, they need to work together to achieve these desired changes. This step involves convincing people that change is necessary and it encompasses strong governance and sustenance from individuals within the organization. In order to influence the process of change within the organi

Designed House Cooling System Research Paper Example | Topics and Well Written Essays - 1500 words

Designed House Cooling System - Research Paper Example The design to be improvised is affordable and readily available. According to Givoni, countries with hot, humid climates call for a building layout that provides a potential for cross ventilation. The following outlines the priority features in the solving of the housing problem in An Minh with respect to obtaining a serene environment.†¢ Roofing will constitute the use of light reflecting fabrics interwoven on coconut leaves to reduce cost. The essence of using reflective materials is to minimize the level of absorption thereby, minimizing the amount of heat to the housing unit.   Ã¢â‚¬ ¢ The roof will be narrow and tall to enhance air circulation and give room for air movements; it will also be extended to provide extra room for shading and less heat radiation thus, minimize heat from the sun entering the house. Cool roofs are remarkably effective in the reduction of power consumption for cooling system.†¢ Double ceiling incorporating readily available materials and ext ends with the roof to encase and prevent any heat absorption to the house. The ceiling insulation will be waterproof and heat resistant material like old newspapers or clothes.  Ã¢â‚¬ ¢ There will be an extractor fan designed to be installed ten meters above the ground in the house.   This will enhance air circulation by using air from outside to cool the house. A fan is an appliance used for ventilation of a room or any enclosed spaced.   It extracts air and moisture hence keeping the house less humid.  ... The ceiling insulation will be waterproof and heat resistant material like old newspapers or clothes. There will be an extractor fan designed to be installed ten meters above the ground in the house.1 This will enhance air circulation by using air from outside to cool the house. The fan is an appliance used for ventilation of a room or any enclosed spaced.2 It extracts air and moisture hence keeping the house less humid. Warm air rises as it is lighter than cool air, thus extracted by the fan placed in the house. Consequently, the sun heats the air in the roof space; therefore, the presence of the fan is highly critical as it will extract the warm, humid air from the house before it circulates. The windows will be placed on opposite sides of the housing unit, and the orientation of the house will be directing towards the direction of summer winds. The positioning is in such a manner as to enhance entry of cool air in the morning and facilitate maximum air circulation when it is hot. The windows will be accompanied by shutters which will enhance air circulation and contribute to the cooling process. The ceiling and interior roofing of the house will be insulated with readily available materials like old newspapers, clothes, shoes, and rice husks. This will maintain the cool air in the house as it will not allow heat from outside to enter into the housing unit. The use of evaporative window technique is also critical in cooling system; this can use old clothing materials on the large windows devised for air circulation.3 Consequently, the windows will be enlarged, placed above the plants outside and obliquely designed at 20o- 120o to the wall to enhance cooling system.4 They will also contain shutters that

A. Making a Gene Product Essay Example for Free

A. Making a Gene Product Essay We have just seen that one way of identifying cells carrying a particular gene is by assaying for the gene product. Such products are themselves, of course, a frequent objective of genetic engineering. Most of the earliest work in genetic engineering made use of E. coli to synthesize the gene products. E. coli has the advantage that researchers are very familiar with this easily grown organism and with its genetics. It also has several disadvantages. Like other gram-negative bacteria, it produces endotoxins as part of its outer layer. Since endotoxins cause fever and shock in animals, their accidental presence in products intended for use in humans would be in a serious problem. Another disadvantage of E. coli is that it does not usually secrete protein products. To obtain a product, cells must usually be broken open and the product purified from the resulting â€Å"soup† of cell components (Barton, 2000). Recovering the product from such a mixture is expensive when done on an industrial scale. It is more economical to have an organism secrete the product so that it can be recovered continuously from the growth medium. One approach has been to link the product to a natural E. coli protein that the bacterium does secrete. This approach has been used to produce insulin. Certain gram-positive bacteria, such as Bacillus subtilis, are more likely to secrete their products and are often preferred industrially for that reason. Another microbe that shows promise as a vehicle for the expression of genetically engineered genes is baker’s yeast, Saccharomyces cerevisiae. Its genome is only about four times larger than that of E. coli and is probably the best understood eukaryotic genome. Yeasts may carry plasmids; their cell walls can readily be removed to introduce plasmids carrying engineered genes. As eukaryotic cells, yeasts may be more successful in expressing foreign eukaryotic genes than bacteria. Furthermore, yeasts are likely to continuously secrete the product. Because of all these factors, yeasts have become the workhorse of eukaryotic cells. Yeasts also have a psychological advantage in the marketplace. Bacteria and viruses are, unfairly, associated in the public’s mind with diseases, whereas yeasts have a much more benign image, thanks to their association with baking, brewing, and wine-making (Barton, 2000). Animal viruses have also been used in making engineered gene products, primarily in the field of vaccine production. For example, scientists have been able to insert genes for the surface proteins of pathogenic microbes into the generally harmless vaccinia virus. The result is a sort of â€Å"sheep in wolf’s clothing,† a virus that has the external proteins of a pathogen but dies not cause disease. When an animal host is infected with the engineered virus, the host’s immune system recognizes these proteins as foreign and, in response, develops an immunity that can protect it against the actual pathogen. Because the vaccinia virus is unusually large and has room for several extra genes, a genetically engineered vaccinia virus might theoretically be used as a vaccine for several diseases simultaneously (Weaver, 2004). Mammalian cells in culture, even human cells, can be used much like bacteria to produce genetically engineered products. Scientists have developed effective methods for growing mammalian cells in culture as hosts for growing viruses. In genetic engineering, mammalian cells are often the best suited to make protein products for medical use; these products include hormones, lymphokines (which regulate cells of the immune system), and interferon (a natural antiviral substance that is also used to treat some cancers) (Anderson Diacumakos, 2001). While plant cells can also be grown in culture, altered by recombinant-DNA techniques, and then used to generate genetically engineered plants. Such plants may prove useful as sources of valuable plant products, such as alkaloids (the painkiller codeine, fro example) and the isoprenoids that are the basis of synthetic rubber.

Religious Experience is Nothing but Fantasy Essay Example for Free

Religious Experience is Nothing but Fantasy Essay The above criticism to religious belief was proposed by Sigmund Freud; who thought that the origin of relig exp (religious experience) is rooted in the unconscious and that they are a product of eschewed psychosexual development. Freud rejected any appeal to the supernatural to explain these occurrences as our mind regularly deludes itself, pointing to dreams as an obvious example. The materialistic approach to explaining relig exp has led scientists to pinpoint specific physical causes of this phenomena; St Paul of Tarsus is thought to have possessed a form of epilepsy. In this case, Pauls relig exp would be a fantasy but perceived as real experience. A theistic challenge to materialism is that God and organic explanations of religious phenomena. In this way our brains may be wired up to experience God; materialism does not necessarily deem all relig exp fantasy. But how does one explain those who do not experience religious phenomena? Are some people born with Gods calling card? This in my mind is where atheists and theists will never agree; theists will say God only chooses some to be his messengers and atheists will say that our genetics and upbringing predispose some of us to superstition. In this way we cannot know whether each and every religious experience is fantasy; a conclusion reached by Bertrand Russell who reasoned that the fundamental truth that we cannot get inside someone elses head and verify the experience deems this argument irresolvable. William James set out specific criteria for a religious experience. For example, the experience must be transient i.e it is temporary and therefore cannot be sustained. This conveniently prevents science from examining the psychological causes of the experience; further evidence that this argument is irresolvable. James based in conclusions in part on Pragmatism; the doctrine that truth is the acceptable conclusion for whomever concerned; in this sense, religious experiences are very much true to the believer. This would be seconded by Ludwig Wittgenstein who indentified religion as a closed language game; proposing that the experiences are fantasy is not an accepted move and is only know to the outside observer. Ergo, to say religious experiences are fantasy excludes the one accepted explanation upon which religion is based; God did it. The term fantasy is vague; does this indicate a belief that we want to be true and know is false or rather a true deception ourselves. The former seems plausible in the case of Mass Hysteria e.g The Toronto Blessing, where our desire to fit in overtakes our desire to be right; what psychologists call Normative Social Influence. As James pointed out, these psychological explanations do not necessarily reject God. However, they do give us no reason to believe in him via Occams razor (believe in the most simple of the explanations) and thus reckon religious experiences as fantasy. This brings to mind Anthony Flews Death by 1000 qualifications; constantly changing the goalposts for the definition of God so that the eventual result is an idea that possesses no verifiable or falsifiable claim. Thus God cannot be counted in or out of existence, or even on the fence. Kant objected to the term religious experience; calling it a contradiction. How can we experience that which is fundamentally beyond our sensory capacity? We experience people and trees and the world around us because it is finite; as are we. We can level the challenge that we experience the universe, which is infinite, but that we experience finite sections of the infinite set. Similarly we can count numbers but not count to the be it and end all of real of the numbers. God we can experience in short, transient bursts but cannot experience the sum of him; this is not logically impossible. Kants reasoning is not the reason to reject religious experience as fantasy; as with religion there can only be one wholly true explanation of religious phenomena. Only one religion can be wholly true as they make incompatible claims; and so we must dismiss most religious experiences as fantasy. And if we reject most religious experiences, then those remaining must be of the same psychological nature so they too can be dismissed as fantasy. Jamess pluralism is merely another get out clause; another death by 1000 qual which offers no explanation to how faiths are linked, and is infinitely less simple than materialism. In conclusion, not every criticism levelled against religious experience is sound. However, only one is sufficient; that because we can track the experience of God to psycho/physiological phenomena, there is no reason left to believe in God even though the two are not mutually exclusive. Since the debate cannot be resolved ala Russell, we must assume the answer is not the theistic one.

Synthesis of a Potential Enzyme Inhibitor

Synthesis of a Potential Enzyme Inhibitor Delaram Salehifard Aim Synthesis and characterisation of Benzocaine. Introduction The Fischer esterification of 4-amino benzoic acid is catalysed by an acid is fully reversible. Method: 3g of 4-aminobenzoic acid was weighed out and placed into a dry 100cm3 round bottom flask (ensuring no residues are left inside the joint). 20 cm3 of methylated spirits was measured out and added to the 4-aminobenzoic acid in the round bottom flask. 3 cm3 of concentrated Sulfuric acid was measured out and added to the round bottom flask mixture (ensuring no residues are left on the joint), a condenser was fit onto the round bottom flask and the mixture was gently swirled. Using a heating mantle, the mixture was heated and upon boiling; refluxed for 30 minutes. At the end of reflux, the heat source was removed and the mixture was allowed to cool to room temperature. Upon cooling, the mixture was gently stirred using a glass stirring rod and Sodium hydroxide solution (20%) was slowly added to the mixture until a neutral pH was attained. The mixture was allowed to stand for 5 minutes before the contents were poured into a beaker containing approximately 70 cm3 of ice, the reaction vessels was rinsed with distilled water and the washings were transferred into the beaker to reach an approximate volume of 150cm3. The product was filtered using a Buchner funnel (washed with some cold water) ensuring that the moisture is completely sucked out. The product was then transferred onto a watch glass and dried in an oven at a temperature no greater than 60oC. The dry mass was then noted and the product submitted for analysis. Steps1-10 were repeated using Isopropyl alcohol instead of Methylated spirits and the melting point for the product was attained. Mechanism of action Step one portrays the protonation of the carbonyl oxygen on 4-aminobenzoic acid where the Sulphuric acid acts as the H+ donor (the regeneration of this proton would establish the Sulphuric acid as a catalyst). This proton transfer results in a delocalisation of positive charge which gives rise to the presence of the three resonance structures portrayed in â€Å"step 1- resonance†. Of these three structures, the middle structure (where the positive charge is localised onto the carbon atom) allows for the esterification to proceed as its partial positive charge allows Nucleophilic attack by the Oxygen atom on Methanol; as seen in step two. Following this nucleophilic attack, a protonation and de-protonation occurs (which has a net effect of proton transfer) thus leading to the formation of a water molecule on the carbon atom which cleaves off in the hydrolysis in step 3. This hydrolysis results in a delocalisation of positive charge which gives rise to the presence of the three resonance structures portrayed in â€Å"step 4- resonance†. Of these structures, the middle structure where the positive charge is localised onto the carbon atom allows for a de-protonation to occur as the Hydrogen atom donates its electrons to the positive carbon thus neutralising the carbon and forming a double bond. This de-protonation also results in the regeneration of the Sulphuric acid proton which protonated the reactant in step 1 thus establishing Results Week one percentage yield: Mass of reactant: 3g Mass of product obtained: 2.38g RMM reactant: 137 RMM product: 165 Reactant/product moles: 0.022 Theoretical yield= 3.62g % Yield = (Actual yield / theoretical yield) * 100 = 65.75% Week two percentage yield: Mass of reactant: 3g Mass of product obtained: 2.79g RMM reactant: 137 RMM product: 179 Reactant/product moles: 0.022 Theoretical yield= 3.92 % Yield = (Actual yield / theoretical yield) * 100 = 71.18% Melting point: Experimental product 1MP: 85.9-88.4oC Literature product 1MP: 88-90oC Experimental product 2 MP: 83.5-84.1oC Literature product 2 MP: 84oC H NMR 4-amino benzoic acid Benzocaine 13CNMR 4-amino benzoic acid Benzocaine DEPT-135 4-amino benzoic acid Benzocaine Analysis The melting points for both products were average reading from three attempts and are reasonably within the literature range. This can be attributed to accurate measurements, clean utensils (thus avoiding impurities) and sufficient drying. At roughly 66% and 71% the percentage yields for products one and two respectively are reasonably low. This may be due to a number of problems such as, incomplete transfer of reactant into the reaction vessel, not transferring all of the reaction vessel washings for filtering, incorrect filtering technique where some product was allowed to pass through instead of being retained e.g. filtering too fast or incomplete transfer of the product from the filter paper after filtration. With reference to the HNMR tables, I have deduced corresponding H atom based on integration, splitting and chemical shift. The chemical shift of an atom depends on the extent of shielding it has, for example a H atom attached to an Oxygen (e.g. H atom number 6 on 4-amino benzoic acid) has less shielding due to the Oxygen atoms’ electronegativity whereas a H atom attached to a C atom has more shielding as carbon is not electronegative and in the case of H atoms number 2 and 3, they are also surrounded by other atoms which give them some shielding. I found locating H atoms 2 and 3 particularly tricky as their quintet splitting pattern and integration of 3 where very misleading however their chemical shift reaffirmed their identity as it is relatively to the left thus indicating a fair amount of shielding. With reference to the 13CNMR tables I was able to deduce the corresponding Carbon atoms based on two properties, chemical shift and peak height. The chemical shift (in accordance to the level of shielding/position of the C atoms) allowed me to locate peaks for carbonyl carbons (Carbon number 7 in both reactant and product) and more shielded carbon aand the height/integration of the peaks which corresponds to the number hydrogen atoms attached to the C atom in question. With reference to the DEPT-135 tables I was able to distinguish the difference between the C atoms in accordance with the different number of H attached to each C atom. This technique portrays CH and CH3 atoms as positively phased and CH2 atoms negatively phased. For atoms with the same phasing, I used the chemical shift ( as with 13 CNMR ) to distinguish between the C atoms in question. In this esterification, the product was maintained in a pH of 7-8. This was done in order to prevent a nucleophilic attack from hydroxide ions which would hydrolyse the product which and reverse the esterification thus converting the product back into the reactant. Rf values can be used to deduce the polarity of a molecule, where a low Rf value can indicate a polar molecule. This is based on how the molecule interacts with the mobile and stationary phases. For example; a low Rf value is a result of the molecule interacting with the polar stationary phase/silica and not travelling very far up the plate allowing us to deduce that its polar. Based on this theory and the fact that polarity increases with RMM; a larger molecule would be more polar and thus have a lower Rf. I would therefore predict that Isopropyl 4-Aminobenzoate would have a lower Rf value than Benzocaine due to its larger RMM making it more polar than Benzocaine. References UNCP. (2014). CNMR spectroscopy. Available: http://www2.uncp.edu/home/mcclurem/courses/chm550/nmr_lec4.pdf. Last accessed 06/03/2014.Chemspider. (2014).4-Aminobenzoic acid.Available: http://www.chemspider.com/953. Last accessed 06/03/2014. Chemspider. (2014).benzocaine.Available: http://www.chemspider.com/Chemical-Structure.13854242.html?rid=752b9fda-5ccb-49f3-bf93-47ceb79356b4. Last accessed 06/03/2014. Jim Clark. (2002).THE MECHANISM FOR THE ACID CATALYSED HYDROLYSIS OF ESTERS.Available: http://www.chemguide.co.uk/physical/catalysis/hydrolyse.html#top. Last accessed 06/03/2014. Chemspider. (2014).4 aminobenzoic acid.Available: http://www.chemspider.com/953. Last accessed 06/03/2014. Chemspider. (2014).Isopropyl 4-Aminobenzoate.Available: http://www.chemspider.com/Chemical-Structure.78903.html. Last accessed 07/03/2014.

The Elevator :: Creative Writing Essays

â€Å"Unconfirmed reports from Rikkers Islands says that one of their inmates hasescaped, and may be in the vacinity,† the DJ on Amy Batts’s car radio reported. ‘Great. Another thing to worry about,’ Amy thought as she pulled her car into the parking garage. â€Å"It is rumored that the prisoner that alledgedly escaped as a distingising tatoo on his right hand. Its suppossedly of a snake wrapped around a young girl,’ the DJ was saying as Amy parked her car. It was almost 8:30 on Tuesday night at Smith & Johnson’s Law Firm. At the tender age of 25 Amy landed an intership at the New York law firm. It was great! She got the chance to aid attorney in cases (mainly by doing reshearch, but hey it will look great on a resuma). Other than her footsteps, which echoed through out the parking gargae, the place was dead silent. If she hadn’t forgotten an importin law book she won’t even be there. Amy felt her heart beating wildly as she neared the elevator. â€Å"Get a grip Batts,† she said to herself. â€Å"Its not like you’re the only person here.† Which was true, a lot of lawarys burned the midnight oil at Smith & Johnson, working hard to prove their case. Still, she hesated at the elevator. Amy has always feared elevators. Who could blame her? Think about it for a minute. You enter a steel cage. You are cut off from all help. You don’t know anyone else in the elevator. Still, she stood there, forced to decide between her faithful stairs, or the cold, metal elevator. ‘There’s nothing to be afraid of,’ Amy told herself. ‘It’s just an elevator. There have been reports of muggings on stairs. The elevator is safer,’ she rationalized as she pushed the button to summen the steel box. The doors swooshed open, and Amy had to step back from the glare of the lights. Then, very timidly, she stepped inside the death trap, and watched as the doors clanged together behinde her. Her work area was on the 25th floor. Takeing deep breaths Amy stared back at herself relected in the mirror like doors. Her long blonde hair was slightly messed up, and there were bags under her dark brown eyes. She was all alone. ‘It’s not that bad,’ Amy thought to herself as the elevator slowly asended.

A Meteor will Strike the Earth and Destroy All Life Forms Essay

A Meteor will Strike the Earth and Destroy All Life Forms â€Å"With millions and millions of meteors hurtling around in our solar system, there’s always a chance that one could hit Earth at any moment. But what would be the consequences and how would the Earth be affected if one does happen to hit? If an object from space hit the sea, a huge tidal wave would be formed, hundreds of meters high, which would leave most of the world under water for a period of time, destroying and killing everything in it’s way. This would have a catastrophic effect on the Earth, as most people would be killed, and leaving countries powerless, unable to do anything. Crops would also be destroyed, starvation would kill all of the survivors, homes would be washed away leaving no shelters, and without hospitals or medication disease would spread quickly killing even more people. As it can be seen, the effects of a meteorite hitting the sea would only cause a temporary, yet catastrophic flooding. Though a direct impact on the ice caps could cause a larger scale of destruction. The caps would melt, increasing the sea level a few hundred meters high. On the other hand, if an object from space hit land, it would cause a huge amount of dust and dirt to be thrown into the atmosphere. This dust would stay in the atmosphere for many years and would block out the sun, causing the Earth to fall into a darkness, as well as leaving many consequences on the planet. Crops would fail due to the lack of light, which would cause massive starvation and death. It would be difficult to breathe without special masks to filter out the dust. With no sunlight or heat, being able to penetrate the atmosphere, the overall world temperature would fall dramatically, causing a possible ice age to occur.† - â€Å"Death in June† (Discover; page 16). With all the facts and governmental resource, there is a good chance that a meteor could hit the earth at any moment causing the world to end!   Ã‚  Ã‚  Ã‚  Ã‚  Over the millions of years that Earth has existed, there have been billions of meteors that hit, but of all the ones that hit, scientists concluded that they were not Earth threatening. The most recent meteor that struck Earth, that caused serious damage, was on the morning on June 30, 1908 in Siberia. When it hit, it had the force of a 20-megaton nuclear bomb. The collision caused nearly a t... ...ll 100 or more people. They also feel that 1,000 people or more would get killed once in every 1,000,000 years due to a meteor. Just to warn you, there hasn’t been a major strike that killed that many people or left serious damage to Earth in a few million years. The last time a meteor caused great damage was in prehistoric time when a meteor weighting about 132,000 pounds landed in Southwest Africa. That meteor is the biggest one that scientists ever found on Earth. Sadly for us though, there are millions of meteors that are hundreds of times bigger then the one that hit in Southwest Africa. Just imagine the damage that could occur if one does hit!   Ã‚  Ã‚  Ã‚  Ã‚  In conclusion, a meteor will hit the Earth in the near future destroying the human race and every other form of life on Earth. It probably won’t happen in the next ten years, but maybe somewhere between the next hundred to thousand years. There have been many meteors that have struck the Earth’s surface, and there’s still millions of huge ones out there. Probably the only good news regarding a meteor hitting the Earth, is that both the Government and NASA are working on many ideas to prevent it from happening.

Genetics 301 Sample Final Examination

Genetics 301 Sample Final Examination Spring 2003 50 Multiple Choice Questions (Choose the best answer) 1. A cross between two true breeding lines one with dark blue flowers and one with bright white flowers produces F1 offspring that are light blue. When the F1 progeny are selfed a 1:2:1 ratio of dark blue to light blue to white flowers is observed. What genetic phenomenon is consistent with these results? a. epistasis b. incomplete dominance c. codominance d. inbreeding depression e. random mating 2. Mutations which occur in body cells which do not go on to form gametes can be classified as: a. auxotrophic mutations b. somatic mutations c. morphological mutations d. oncogenes e. temperature sensitive mutations 3. What would be the frequency of AABBCC individuals from a mating of two AaBbCc individuals? a.. 1/64 b. 1/32 c. 1/16 d. 1/8 e. 3/16 f. 1/4 4. The stage of meiosis in which chromosomes pair and cross over is: a. prophase I b. metaphase I c. prophase II d. metaphase II e. anaphase II2 5. Polyploidy refers to: a. extra copies of a gene adjacent to each other on a chromosome b. an individual with complete extra sets of chromosomes c. a chromosome which has replicated but not divided d. multiple ribosomes present on a single mRNA e. an inversion which does not include the centromere 6. A gene showing codominance- a. has both alleles independently expressed in the heterozygote b. has one allele dominant to the other c. has alleles tightly linked on the same chromosome d. has alleles expressed at the same time in development e. has alleles that are recessive to each other 7. The phenomenon of â€Å"independent assortment† refers to: a. expression at the same stage of development b. unlinked transmission of genes in crosses resulting from being located on different chromsomes, or far apart on the same chromosome. c. association of an RNA and a protein implying related function d. independent location of genes from each other in an interphase cell e. association of a protein and a DNA sequence implying related function 8. Mendel's law of segregation, as applied to the behavior of chromosomes in meiosis, means that: a. pairing of homologs will convert one allele into the other, leading to separation of the types. b. alleles of a gene separate from each other when homologs separate in meiosis I, or in meiosis II if there is a single crossover between the gene and the centromere. c. genes on the same chromosome will show 50% recombination d. alleles of a gene will be linked and passed on together through meiosis 9. Which component of transcribed RNA in eukaryotes is present in the initial transcript but is removed before translation occurs: a. Intron b. 3†² Poly A tail c. Ribosome binding site d. 5†² cap e. codons coding for the protein to be produced3 10. Choose the correct statement about the genetic code. a. includes 61 codons for amino acids and 3 stop codons b. almost universal; exactly the same in most genetic systems c. three bases per codon d. some amino acids are coded by multiple codons e. all of the above 11. X-chromosome inactivation a. normally takes place in males but not females b. is the cause of the Y chromosome being genetically inactive c. takes place in humans so that the same X chromosome is inactive in all of the cells of a female d. occurs in fruit flies but not in mammals e. results in genetically turning off one of the two X chromosomes in female mammals 12. DNA ligase is: a. an enzyme that joins fragments in normal DNA replication b. an enzyme involved in protein synthesis c. an enzyme of bacterial origin which cuts DNA at defined base sequences d. an enzyme that facilitates transcription of specific genes e. an enzyme which limits the level to which a particular nutrient reaches 13. An Hfr strain of E. coli contains: a. a vector of yeast or bacterial origin which is used to make many copies of a particular DNA sequence b. a bacterial chromosome with a human gene inserted c. a bacterial chromosome with the F factor inserted d. a human chromosome with a transposable element inserted e. a bacterial chromosome with a phage inserted4 14. An experiment was conducted in E. coli to map the following genes (pro, his, bio, met, phe and trp) on a circular map using 3 different Hfr strains. Strain 1 Order of transfer (early to late): trp met his pro Strain 2 Order of transfer (early to late): his met trp bio Strain 3 Order of transfer (early to late): pro phe bio trp Based on the results what is the most likely map? a. b. c. d. 15. Generation of antibody diversity in vertebrate animals takes place through: a. the presence of as many genes in the germ line as there are types of antibodies possible. b. infection with bacteria carrying antibody genes c. infection with viruses carrying antibody genes d. polyploidy in antibody-forming cells e. rearrangement of DNA in tissues that go on to produce antibodies 16. Replication of DNA: a. takes place in a â€Å"conservative† manner b. takes place in a â€Å"dispersive† manner c. takes place in a â€Å"semi-conservative† manner d. usually involves one origin of replication per chromosome in eukaryotes e. takes place only in the 3†² to 5†² direction trp pro his phe met bio trp pro bio met phe his phe met bio pro trp his trp pro met bio phe his5 17. A duplication is: a. an exchange between non-homologous chromosomes, resulting in chromosomes with new genes adjacent to each other. b. loss of genes in part of a chromosome c. an extra copy of the genes on part of a chromosome d. a reversal of order of genes on a chromosome e. an extra set of chromosomes in an organism 18. What is the co-transduction frequency for the A and B genes, from the following dataset? (Assume that there has been selection for the A+ form of the A gene). Genotype Number A+B+ C+ 10 A+B+ C- 30 A+ B- C+ 20 A+ B- C- 40 a. .10 b. .20 c. .30 d. .40 e. .50 19. A mutation in a codon leads to the substitution of one amino acid with another. What is the name for this type of mutation? a. nonsense mutation b. missense mutation c. frameshift mutation d. promoter muttion e. operator mutation 20. Mapping of human chromosomes: a. has been restricted to the sex chromosomes because of small family sizes b. proceeded much more successfully as large numbers of DNA markers became available. c. has determined that the number of linkage groups is about twice the number of chromosomes d. has demonstrated that almost all of the DNA is involved in coding for genes e. has shown that there are more genes on the Y than on the X chromosome6

Gainesboro Machine Tools Corporation †Essay Essay

Executive Summary Gainesboro Corporation was a company who designed and manufactured a number of machinery parts, including metal presses, dies, and molds. The company was found in 1923 in Concord, New Hampshire, by two mechanical engineers, James Gaines and David Scarboro. The two men had gone to school together and were disenchanted with their prospects as mechanics at a farm equipment manufacturer. In the 1940’s Gainesboro produced armored-vehicle and tank parts and miscellaneous equipment for the war effort. And then in the early 1980’s, they focused on manufacturing machinery parts, war equipment, and now entered new field of computer aided design and computer aided manufacturing (CAD/CAM). Objective Ashley Swenson, chief financial officer (CFO) in mid-September 2005 needed to submit recommendation to Gainesboro’s board of directors regarding the company’s dividend policy. The Gainesboro’s stock also fallen 18%to $22.15 due to post impact of the Hurricane Katrina. Now, Ashley Swenson’s dividend decision problem was compounded by the dilemma of whether to use company funds to pay shareholder dividends or to buy back stock. Analysis >>Buy-back Stock Stock Price per share = $22.15 Net income in year 2005 = $18,018,000 Number of shares = 18,600,000 shares (assumed number in year 2004 is still the same with year 2005) Earnings per share = $0.98 Price to earnings ratio ( P/E Ratio)=(Price per share)/EPS P⠁„E Ratio=22.15/0.98=22.6 Number of retired shares=(Net income)/(Price per share) Number of retired shares=18,018,000/22,15=813,453.72≈813,454 Therefore, number of shares outstanding =18,600,000-813,454=17,786,546 shares Then we can calculate the new EPS after repurchase stock, Earnings per Share (EPS) =(Net income)/(Number of shares) EPS =$18,018,000/17,786,546=$1,013 Thus, the new market price is =EPS x PE Ratio=1.013 x 22.6=$22.89 It can be seen that by buying back the stock, the market price can increase for 3.34%. >Pay shareholders dividend a. Zero dividend payout Policy This policy required the company will not pay dividend from 2005 to 2011.In the year 2005, The company expenditure was about $63.3 million dollars but the amount of the total sources was only $40 million, so in order to balanced the company financial condition, the company borrowed $22.7 million. The same thing was also happened in 2006, the company borrowed $7.3 million (total expenditure $72.8 million –total source $65.5 million). From 2007 to 2011, the company excess cash are positive ($4.2, $11.5, $29.4, $27.2, $77.6) million, these situation happened because the total expenditure remained lower than the company total source, so the company did not have to borrowing needs. So, by sum all of the excess cash and the borrowed money data from 2005 to 2011, we can calculate that the company total excess cash is $120 million. This kind of policy has the best impact on company’s financial condition because of the absence of dividend that will reduce the company’s retained earnings. Retained earning posses a greater role to make sure the company runs smoothly in the future by using minimum portion of debt required on a project, reflected in the industrial zero-dividend payout ratio. b. 40% dividend Payout From data in exhibit 8, 40% dividend payout means that the company will pay dividend 40% from net income from year 2005 to 2011. This results and the total excess cash for borrowing needs from 2005 to 2011 is ($95.1) million. The company will do borrowing from year 2005 to 2010. Amount of money borrowed respectively, ($29.9), ($23.3), ($18.8), (17.6), ($7.2), and ($12.0). All of the value comes from deduction of the total expenditures to  the total sources. Year 2011 the company will get $13.6 million excess cash ($212.5 million – $134.9 million). $134.9 million is from the total expenditures (capital expense + change in working capital). And $212.5 million comes from the total sources (net income + depreciation). By sum up all of values (excess cash and borrowed money) from year 2005 to 2011 we get the total cash flow of ($95.1) million. By raise dividend payout from 31.4% in 2004, 140,784(Net income)/0.25(dividend per share) to 40% company need excess cash 95.1 million; only in 2011 the company gain profit. The following is the calculation table: c. Residual-payout Dividend The following is the calculation for the residual-dividend payout: By applying residual payout policy, at the total of excess cash from year 2005 to year 2011, Gainesboro still experiences negative cash. It means they will still have to borrow extra cash to pay the dividend. Conclusion and Recommendation Based on the market price value, EPS, and P/E Ratio calculation, the company’s stock will have higher market price if they buy back the stock. Therefore, it’s recommended to buy back stock instead of paying dividend. It is also supported by the comparison between zero payout dividend, 40% payout ratio, and residual-payout. The best ending cash the company has is when they do zero payout ratio, which means they don’t give dividend at certain years. Since, to pay the dividend they will have borrowing need forcing them to increase the debt level. Meanwhile, they current debt level is already higher than the maximum level management expect which is 40%. The year 2005 debt to equity ratio is 140%. Also, without paying dividend, the company still can attract investors. It is shown from the P/E ratio that is in average if compared to other similar companies.

Models for Interest Rate Risk Essay

Interest risk is the possibility of unexpected adverse changes in interest revenues and expenses. It can be shown that interest rate changes are unpredictable almost 100%. They depend on monetary policy; supply and demand, inflation etc. These in turn depend on many other factors. So how do financial institutions manage the risk of fluctuating interest rates give that they cannot predict it? The immunization of a portfolio against interest rate risk means that the portfolio will neither gain nor lose value if interest rates change. In this essay we will look at some of the different models used by financial institutions for managing interest rate risk. They are the re-pricing model, the maturity model and the duration model. We will describe them and evaluate the comparative advantages and disadvantages each model assumes. Firstly we consider the re-pricing model. It is a balance sheet where assets and liabilities are grouped according to the time periods in which the different assets and liabilities are rate sensitive. Assets or liabilities are rate sensitive within a given time period if the values of each are subject to receiving a different interest rate should market rates change. These groupings are referred to as ‘maturity buckets’. Then ‘Gap analysis’ is conducted where the rate sensitive liabilities are subtracted from rate sensitive assets for each maturity bucket. This is called the GAP. It can be shown that GAP * interest change = net interest income (or profit) change or the interest margin. We can also calculate the cumulative gap(CGAP) by adding up the gaps in the brackets over a period of time, for example 1 year.

Economic globalization makes rich get richer, poor get poorer Essay

Economic globalization is the unifying of all the economic systems and markets worldwide. The world obviously is nowhere near true globalization, but countries are making huge strides towards it. There is a premise that globalization makes rich countries richer and poor countries poorer. However, I do not agree with this. Firstly, it is true that the rich may very well get richer by globalization. It opens up new investment opportunities and new growth and if they are wise they can benefit financially. Take the recent boom in emerging markets. It is mainly the rich who have access to invest in these markets, and thus, the rich get richer. I would argue, however, that globalization has a very strong force to actually make the rich poorer. For examle, there has been much talk about outsourcing and that it is bad for America because American jobs get moved abroad. Now those Americans who have had their jobs outsourced are certainly poorer, and in this scenario the Americans are the rich so once again the rich got poorer. The idea that the poor get poorer is in most ways unfounded. Sweat-shops are an example of a terrible characteristic of globalization. Nevertheless, the use of sweat-shops is declining thanks to consumer pressure. Additionally, sweat-shops are a function of the governments of the countries in which they exist. It is not globalization’s fault that people are treated poorly in a country, but rather it is the fault of that government for not looking out for the welfare of its people. Beyond that, though, I believe globalization is helping the poor get richer. To start, take the example in the previous paragraph and reverse it. While Americans losing their jobs get poorer, workers in other countries get richer. Multinational corporations are finding these developing countries provide very appealing investment opportunities and so they are putting their money into these countries, by so doing, helping them to grow and enriching their citizens. Globalization typically leads to the industrialization of countries that have not been industrialized and makes the world a better place for everyone.