Motivating and Leading Borders

Question: Compose an exposition onMotivating and driving across outskirts: overseeing groups and assorted variety. Answer: Inspiration is utilized to depict the procedure that can trigger an individual so the person can even now remain concentrated on the undertaking ahead. At the end of the day, inspiration can be utilized to characterize the components that keep an individual keen on going on with a specific venture or errand. These elements run generally from social, natural to passionate and psychological powers which influence how an individual demonstrations. There are various speculations that have been recommended that clarifies the different parts of inspiration, for example, Maslows Needs Hierarchy Theory. In an enhanced society, there are a ton of administration abilities and coordination is required to keep the individuals propelled. An expanded group can comprise of individuals from various nationalities. For this situation, the pioneer ought to have the option to manage every part successfully. The comprehension of a culturally diverse society will assist the pioneer with deciding on the co mpelling way to deal with use in driving the organization.Managing groups in an association include planning the endeavors of all in people in an association so at to accomplish the set objectives. An all around oversaw group is constantly inspired and such the association will be bound for progress. A propelled group will perform better than a demotivated group. Be that as it may, keeping up a group is additionally of incredible worry since in the event that a created group isn't very much overseen, at that point the group may self-destruct and this will greatly affect the group. In this way, it is the obligation of the group head to get their group and expertise well to oversee it. A compelling pioneer ought to comprehend the capacities of his group. The pioneer ought to likewise get their authority aptitudes and accurately execute them for the achievement of the association. The pioneer must have the option to comprehend the decent variety that exists in their group and arranges it for better performance.Diversity might be characterized as the distinction that exists among people that are, characteristics in a given gathering of person that are absent in another gathering. Assorted variety might be because of various to age, race and so on. Assorted variety greatly affects a people execution, and how she or he will be inspired while associating with others. The assorted variety in a group can be of incredible assistance to an association and as such a pioneer ought to have the option to misuse it. This report, consequently, will examine a portion of the administration issues and difficulties in a culturally diverse condition that are, an enhanced domain and how well to rouse individuals in such a situation along these lines, that they may utilize their capacities and contrasts to arrive at their latent capacity. The report will likewise portray the significance of work and depict a portion of the methodologies that can be utilized to persuade people in a gi ven association. Likewise, the report will depict the necessities order; this is one of the speculations that are utilized to portray methods of keeping an individual propelled. It will likewise examine authority in a broadened society. Likewise, the kinds of authority will be examined. The fluctuation in the way of life and how pioneers can utilize such contrasts for the advancement of the association are talked about. As a rule, the report portrays powerful initiative in an expanded domain and the difficulties related with dealing with a broadened society (Mitchell, Boyle, Parker, Giles, Chiang Joyce, 2015) The executives Challenges Dealing with an association or a group may represent a great deal of difficulties particularly if the pioneer is managing an expanded group. These difficulties may run generally relying upon characteristics that achieve the decent variety. Coming up next are a portion of the difficulties related with dealing with an expanded association or society;1. Poor communicationEffective correspondence is the main impetus of some random group. For a group to perform well both the pioneer and the colleagues need to have a proper method of how they trade data among themselves. In a broadened group, this is an extraordinary test particularly if the people in a group have diverse social foundation and semantic contrasts. Since various societies have various qualities and think about certain perspectives as proper and others unseemly, it might bring about correspondence challenges among the colleagues. What's more, a group may comprise of people who have diverse imparting styles relying upon the ag e, sexual orientation, and religion (Kirton, Greene 2015). This may bring about misconception and hence distortion of data which will, thusly, influence the presentation of a group. In dealing with a various group pioneers ought to have the option to urge the individuals to receive a typical specialized technique and welcome the every others differences.2. HegemonyThis is where a specific gathering in a group or association is a lot of predominant than others. In an association that comprises of people from various societies, the test of greater part authority may emerge because of the predominance of a given gathering over another. In such a case an organization may will in general build up a business culture that favors the lion's share bunch over the minority gathering. This can demoralize the minority bunch coming about into underperformance of the group. On the other hand, the less predominant gathering may join the prevailing gathering to feel as a component of the organizatio n. It is, along these lines, significant for the group chief to comprehend the distinctions that exist in their group and attempt to have them cooperate without causing a specific gathering or individual to feel as an outsider.3. ResistanceA given group may comprise of people who are not prepared to acknowledge the decent variety that the group has. Such people may not be prepared to adapt to the current assorted variety plan in a group and thusly, its execution might be a test. With such mentalities in a group, some individual become unsettled and demotivated prompting an abatement in the presentation of the group. Pioneers ought to have the option to inspire their colleagues to beat this obstruction and improve the presentation of the group (Siegel 2015).4. GroupthinkThis alludes to a choice that has been for the most part showed up at by a greater part of individuals. Oblivious conformity is ordinarily utilized by colleagues as a methods for improving gatherings and limits conten tions in an association. This would essentially prompt digestion of others points of view and consequently, the groups potential probably won't be completely misused. A pioneer should devise a powerful methodology that will permit all the colleagues to share their viewpoints without being compelled to absorb their deduction with that of the groupthink.Meaning of WorkThe progression of innovation has prompted an alternate point of view of work. Work can be characterized dependent on the accompanying three perspectives; the importance of work, the work esteems, and the work cognizance (Shek Chung 2015).The noteworthiness of work portrays the characteristics that an individual joins to their work and how the person in question speaks to it. It likewise clarifies the significance of work to ones life.Work values depict the responsibility that one has towards life and the perspectives that direct one in their work. There are commonly five significant perspectives including; self-governan ce, self-accomplishment, chance taking, social cooperations, and social advancement.Work cognizance characterizes the equalization that exists between ones work and him. The Needs HierarchyFor a group to perform effectively, the individuals should be roused. There are a great deal of strategies utilized by pioneers to keep their colleagues persuaded with the goal that they may work successfully to accomplish a companys destinations. The requirements speculations clarify a portion of the interior factors that may persuade a person to act in a given manner. Necessities might be characterized as deficiencies in specific parts of a people life and these will consistently impact the conduct of that specific individual.One of the most widely recognized requirements hypothesis is, Abraham Maslows chain of importance of necessities hypothesis which expresses that ones inspiration is because of an endeavor to fulfill the five essential needs that incorporate; self-realization, physiological, regard, social, and safety.In the worldwide setting, pioneers ought to consider the over five needs with the goal that each worker remains roused to perform as per their latent capacity. This will include;Physiological needs; this depicts the essential needs important for endurance. Representatives ought to be given acceptable working conditions. The conditions should be good for everybody and not only a chose few.Safety needs; the pioneer ought to have the option to ensure the colleagues security for their funds, wellbeing and so on without demonstrating favoritism.Social needs; dealing with a group comprising of people from various nationalities will include creating compelling implies that will energize communication and coordinated effort among representatives (Drucker 2007).Thus, it is vital for a pioneer to think about the above needs among others while dealing with an enhanced team.Motivation of PeopleMotivation is a word that begins from the thing thought process, an intent ion is alluded to as that angle or thing that prompts a person to act with a particular goal in mind (Wood 1991).Motivation alludes to a people heading to conduct or a perspective or factor that may cause a person to have the need to rehash some conduct. The inspiration of individuals is anyway connected with certain focal points and disservices. These may include;Advantages Interest and Responsibility When representatives are constantly persuaded by their managers, the intrigue level and the energy to work for that organization will in general be so much expanded. Resources Employ inspiration has a significant impact on the conduct representatives conduct. It is simpler, in this way, to persuade a representative who is persistently spurred to consistently stay working in your association. Along these lines, an utilize may turn into an advantage of an organization. Proficiency In an association where the workers are constantly persuaded, the association of such organization

My Writing is My Voice :: Teaching Writing Education Essays

My Writing is My Voice For a very long time, I truly didn't have the foggiest idea what my identity was. Not that I was befuddled about who I found in the mirror, however I had know thought why I figured the manner in which I did about things. Science had consistently intrigued me. Creatures have such a one of a kind character made out of the requirement for endurance. They are not affected by outside weights to acclimate. I settled on the choice to read them for an incredible remainder. In any case, I truly didn't have the foggiest idea what isolated me, as a human, from my feline. The educational systems and church attempted to give me clarifications. They enveloped the way that I think legitimately, have critical thinking aptitudes, feelings, and settle on choices dependent on these feelings. Creatures didn't have these capacities and this isolated them structure us. Be that as it may, the training began to repudiate itself. In the wake of being presented to a larger part of creatures, I saw capacities that people can't groups. Some can fly, breath submerged, and exist in atmospheres where people can't without fake gadgets. People can't endure winters without garments or travel the seas without vessels. The framework was deceiving me. Creatures could adjust and think very well. We were worse, simply unique. This caused me to lose confidence in the framework and I started to take up free idea. Since I figured I ought to be a really autonomous scholar, I accepted that all that I knew was my very own result revelation. Inside my own brain, everything was how it was on the grounds that I thought it. The remainder of the data in my mind was just a lot of stuff set up by society for me to learn. At the point when I left my humble community of Big Lake after graduation, I was looking for an advanced education. Where? A college obviously! I hurried into the universe of students with expectations and dreams of some time or another having the option to clarify a purpose behind everything. In any case, I would not like to do it in a similar manner the framework was requiring it. They made the guidelines and I should tail them. I didn't care for what they needed to state. I addressed most everything. There were trains however that I didn't address. Material science, science, and science existed some time before people. I have just observed them in nature. Nature itself was verification enough to trust in their legitimacy.

Search, Taxonomy & Collaboration Tools Essay Example | Topics and Well Written Essays - 1000 words

Search, Taxonomy and Collaboration Tools - Essay Example As the conversation highlightsâ the information laborers are viewed as the individuals who center around applying various ways to deal with investigate the information they have picked up and build up the equivalent towards achieving new and dynamic perspectives. In such manner, it tends to be affirmed that with the viable improvement of specialized headways, countless apparatuses were fused for upgrading a procedure that is related with blend of information and starting successful learning. From this paper it is clear thatâ knowledge the executives has risen to be the most significant instruments that has been starting dynamic turn of events and influencing movement inside the framework. With the persistent change in the business condition, dealing with the differing and complex business changes must be alleviated with the viable administration of information. This administration of information, then again, can be upheld and advanced with the various utilization of shared device s, starting progression inside the general public and supporting information laborers to build up their proficiency. With the movement of the different apparatuses and innovation, there have been fruitful headways during the time spent information social occasion and amalgamation, opening new roads towards information progression. Estimably, with the incorporated utilization of the synergistic devices, there include been generous headways inside the degree of information accessible to the general public or network players.

How to Write Good Religion Essay Topics

How to Write Good Religion Essay TopicsReligion essay topics are generally easy to come up with, depending on what you feel a piece of literature should be about. However, they still need to be written in a way that would be suitable for submission to your college or university as an assignment. For this reason, you must make sure that you do not get carried away with your ideas and write something just because you want it to be published.What you can do is look through the list of religion essay topics that are available online and see what they are all about. Look at the first paragraph of each essay that you find and decide which one is more appropriate for your topic. This will help you in making your choice of essay topic. Your assignment will be very important to you, so you must put it first.As a rule, religion essay topics should present an analysis or a description of a religion, its community or its beliefs. A good starting point would be to define your topic as a religion or a part of religion. The reader should know what you are trying to say by the first paragraph.In terms of a research paper, you should research a lot about the people who are trying to establish a religion, or those who practice religious beliefs. You will have to know what motivates people to get involved in religion, as well as their belief systems. It is easier to understand their world if you know how they react and think about things that happen in that world.Religion essay topics can be difficult for the students, however, and this makes them very stiff when they read it. For this reason, you should discuss your topics with others in class. Those who are acquainted with Christianity or Islam will have a better grasp of what you are writing about.It is not easy to write about these topics, as you will have to be very objective, careful and clear in expressing your ideas. There are many ways to define the principles of a religion, but you have to be able to express this to the reader. Be aware that some students will put too much personal opinions into their piece of literature, so take note of this when you have a student write an essay on something that they feel strongly about.Do not be afraid to show your cultural and social background when writing about religion essay topics. Use words and phrases that are understandable to the group of people you are trying to persuade, instead of the stereotypes that the author might have heard. Most likely, it will do you much good to have such a conversation in the classroom with other students.To sum up, you should remember that your religion essay topics will depend on what you believe, as well as what people think about the religion that you believe in. As long as you are not a militant believer, you can talk about any aspects of religion that are beyond the orthodoxy of the church. Remember to try to understand people and what their belief systems are before writing an essay on religion.

Everything You Need To Know About Milestones Planning

Everything You Need To Know About Milestones Planning Project management is quite a daunting task, because we are talking about overseeing an entire project from start to finish. In fact, it starts even earlier, during the milestones planning stage of the project and long before its actual implementation and execution. Part of what makes it actually doable is the existence of various tools that can facilitate the whole process of managing a project. You know your project objectives, you are fully aware of the expectations, and you even have complete control of the resources that will be used over the course of the project. You have the timeline mapped out. Now it is time to mark the timeline with milestones. © Shutterstock.com | Sira AnamwongIn this article, you will get to learn about 1) an introduction to milestones planning and 2) guidelines to milestones planning.INTRODUCTION TO MILESTONES PLANNINGWhen we speak of tools used in project management, one of the first things that will come to mind, particularly with respect to timing and scheduling, is milestones planning. Milestones mark specific key points or anchors along the timeline of a project.You have probably heard the word used often to describe key events in one’s life. It could be a young lady’s 18th birthday, or when she graduates from college. Another milestone is when she gets married, followed by when she gives birth to her child.In a business context, let us take the example of a budding entrepreneur. His milestones would most likely include the time when he started his first business. When he landed his first major deal. When he made his first million in sales. When he took his business public. These are all milest ones.But, of course, we are talking about milestones planning in terms of project management.The specific points are indicative of moments on the project timeline where major progress has been made towards the accomplishment of the project objective or goal. They are the small steps that are taken to ultimately lead you to the end goal, which may be the development of a product or a service. These milestones are marked on the project timeline, and are deemed realized when they have been reached with success.More often than not, these milestones have nothing to do with how long the project will last. In other words, setting milestones does not shorten or extend the life of a project. This is why milestones are also defined as “zero-duration” tasks, because they are achievements or commitments. They are a point in time, and not a length of time.Importance of Milestones PlanningThe area of project planning that benefits the most from the use of milestones planning is project schedu ling. Milestones are in fact, referred to as the “building blocks” or “stepping stones” of a project schedule.Project scheduling basically involves creating a project tool, which indicates clearly the work that must be performed, the personnel that will perform the work, the resources that are required in the work performance, and the time frame that must be followed in the completion of the work. Project scheduling has one objective: to ensure that all the work involved will be performed so that the project will be completed within the time allotted, and even before the deadline.There are several methodologies currently being used in project scheduling, and two of the most popular ones are the Critical Path Method (CPM) and the Program Evaluation and Review Technique (PERT). Milestones are considered to be very helpful even when these methodologies are employed.We will be better able to understand why we should do milestones planning if we look into the importance of the mi lestones themselves.Milestones are primarily used in monitoring the progress of a project. They serve as excellent indicators on whether the project is going on schedule or not. Overall, it provides managers a way or an opportunity to see if the project is going as planned or if drastic action must be taken for adjustment purposes.Aside from the time factor, milestones are also useful in checking whether or not the project is still within budget as it goes along.Milestones aid in the identification of critical segments, or project segments or activities that need more attention or time than others. This will help managers assign the proper amount of time and resources where and when they are most needed.Milestones provide the forward momentum that will push or propel a project forward until it reaches its completion. They offer a degree of motivation to get the different activities in the project done, as the workers will feel the urge to complete the milestones, towards the complet ion of the whole project.Milestones planning also helps in managing the expectations of stakeholders and everyone involved in the project. All these point to one major important role that milestones planning plays in project management: MILESTONE CONTROL, one of the key control activities of project management.Milestone control addresses four areas:What to complete: The project is divided into smaller manageable segments, which are subsequently monitored until completion to evaluate whether they are in accordance with the plan and the schedule.What was completed: All the accomplishments and milestones that mark the progress of the project, are recorded and subsequently compared to the project schedule that was earlier prepared.When was it completed: Comparing the actual completion date of a milestone to the scheduled one will indicate the effectiveness and efficiency of performance of the various activities of the project.When will it be completed: There is a need to check if there are variances in the project schedule with respect to the milestones and accomplishments. It is not enough that they see whether they met the milestones or not; they also have to find the reason why they were not able to do so, or why they were able to meet them well ahead of time. This will further aid in assessing whether the entire project will be finished on schedule.There are, however, some minor arguments against milestones planning. It is effective, yes, but only to a certain extent. As pointed out by expert makers of project schedules, milestones show the progress only on the critical path. This means that the non-critical activities of the project are largely ignored.This leads to project managers trying to perform some window-dressing of their own. What they do is to move resources from non-critical activities to the identified critical activities in order for the milestones to be met. On the surface, it would appear that the project is “healthy”, on schedule and on bu dget. It does not immediately reveal the fact that some non-critical activities have been sacrificed or even completely ignored.Types of MilestonesThe most common milestones are made on the following points in a project timeline:Start date of the projectEnd date of the projectDates for budget reviews or evaluationsDates for the conduct of external reviewsPoints where major input to the project is madeSimply put, milestones are often expressed in terms of dates. We can categorize these dates into three:Key Dates. In the examples enumerated above, take note that they are mostly dates. The usual key dates used as milestones include the dates of launch parties, board meetings and product rollouts.Key Deadlines. Projects always have to deal with deadlines. In fact, that is what they are all working towards: finishing the project and having the deliverables ready on or before the deadline.External Dates. There are a lot of external factors that will also affect the way your project is exe cuted, and they must be reflected as milestones if they are significant or relevant enough. Examples include the delivery of important materials that will be used in several activities of the project, or the schedule of external review or audit by an independent firm.Most of us have been nurturing the idea that milestones are something “big” and “momentous”, thus discounting the smaller and more mundane points as inconsequential. This is a mistake that even many experienced project managers do.There is no such a thing as “typical milestones”, or those that are not necessarily “big” or have a lot of impact, but are still integral to the overall conduct of a project. Some of the typical milestones that project managers come across are:Approval of applications for patents of new productsReceipt of funding from external investors or lendersInstallation of major facilities, plants, or equipmentInitial rollout of product prototypesSigning of major contracts affecting the c onduct of the projectRecruitment and hiring of key personnel or staffIf we are to give them proper classifications, they would be:Milestones on phase transitions. These are milestones in a project that focuses on the product development or product or service expansion. Usually, milestones under this classification include the conduct of marketing research, product design, product testing, and the delivery.Milestone on completion of a deliverable. Once the non-tangible or tangible output of an activity has been completed and delivered, this is marked as a milestone.Milestone on rates of completion. This is different from the completion of a deliverable, because the milestones are marked when stages of a process towards completion of the project have been completed. Normally, this is for long-running projects that are done in stages. Once a stage is completed, it is marked as an achieved milestone. The next milestone would be when the next stage is also completed, until such time that all stages â€" and the whole project â€" has been completed.Milestone involving performance recognition. This milestone focuses more on the quality of the work performed, not necessarily on the pace it was performed or the amount of work completed within the time allotted. For example, if the workers were able to turn in a specific number of hours’ work, they will merit recognition. This can be deemed as a milestone.GUIDELINES FOR MILESTONES PLANNINGWhen setting milestones for a project, there are several guidelines or steps that must be followed.A. Development of a Work Breakdown StructureThere are several project management documents and forms that must be prepared even during the project planning stage, and the work breakdown structure is one of those. You will need this because it provides an overview of all the tasks or activities within the project.A work breakdown structure is a tool that is created in order to break down the components or sections that are more manageable and easier to execute and track or monitor. It is especially useful in complex and large projects, because of the following benefits:It aids project managers in organizing and planning project activities with accuracy.It aids project managers in identifying the skills sets required for the activities in the project, and assigning the responsibilities to the qualified personnel.It helps project managers in budgeting, scheduling and risk management.It is useful in identifying the control points and milestones of the project along the project timeline.The Work Breakdown Structure can be simple or complex in its representation, depending on what the project requires. The components are identified, along with their respective activities or elements, as well as their interconnections, if any. It could be represented in a simple outline or a diagram, or it may be through an animated presentation. The project deliverables, or the output of a project (or a segment thereof) that will ultimat ely be handed over to the end user, are also clearly identified in the work breakdown structure.One of the more common ways to do this is through a Gantt Chart.B. Spotting MilestonesOnce you have an overall general idea of the work that the project entails, it is time to look for opportunities that you can use to set up milestones. The milestones must be in view of the accomplishment of the tasks or activities that were clearly identified in the work breakdown structure.Keep in mind that milestones are not just achievements but also commitments. They must be met, and they must be met on time. But they are also excellent learning tools, informing project managers â€" even as early as the project planning stage and all throughout the project execution â€" of areas where adjustments must be made.This is probably one of the more difficult parts of milestones planning: actually looking for them. Many project managers are apprehensive that they may not be able to identify a milestone even when it is staring them in the face. You can make use of the following parameters to make the job of spotting milestones easier.Importance. A good rule of thumb is that, if the deliverables are important, they may be designated as milestones. Those who are involved in the project planning must use their professional judgment to identify the significant and relevant events that are expected to take place along the project timeline, and mark them as milestones.Frequency. It does not automatically mean that, if an event occurs frequently, then it is so relevant or significant and merits being designated as a milestone. There is nothing wrong with paying attention to the more frequent points, but do not immediately assume that they are milestones. You have to first weigh them according to their importance, which is the first parameter discussed above.Timing. We keep hearing this: in business, timing is everything. The same is true when looking for milestones. Milestones are spaced even ly, at intervals. If they are placed too closely together, they become routine and not distinct at all, so they lack the impact that milestones are known for. In contrast, if the milestones are too far apart, the forward momentum of the project will be affected. There is a danger of the members of the project team to lose motivation when they cannot see the next milestone up ahead. Usually, projects with a timeline of about 3 to 5 months space their milestones at least 2 to 3 weeks apart.Accountability. There needs to be a proper matching of the objectives of the project and the resources assigned to the activities directly addressing those objectives (as well as the people accountable for these resources and activities). This is for easier evaluation, in case quick adjustments must be made.Visibility. If the milestones are unclear or vague, then there is no way that the members of the project team will be able to easily identify them for the milestones that they are. They must be c learly identified and visibly indicated on the project timeline. This is also a mode of reinforcement for everyone involved.Amount of risk involved. Milestones should have weight, and this comes with the degree of risk involved. As mentioned earlier, milestones are commitments and, as most commitments go, there is a possibility that they will not be met. If there is a certain degree of risk involved â€" no matter how small or large â€" the motivation to meet them will be greater, and so will be the ensuing reward.

A Day (and a Year) in the Life of a Ross MBA Student

Learn how real students navigate their way through the business school admissions process and b-school itself with our What is Business School Really Like? Series. Meet James, a Ross MBA student with a background in education. James, thank you for sharing your story with us! What made you decide to pursue an MBA? James: Part of me always knew I wanted to get an MBA. My parents were both small business owners and I remember loving talking about the challenges of competing in a changing business environment and how best to provide value to customers. While Dartmouth (my undergrad) didnt have a business program, they did offer a few Tuck classes for undergrads and I took two of them and they were some of my favorite classes. In terms of my career, I had worked in education prior, first as a teacher and then as a product manager at an education technology company, and realized there was a lot to learn from the business world in terms of how to make decisions. Im particularly interested in how organizations can leverage human capital to achieve ambitious goals. Coming from the education sector where resources (financial and human) will always be limited, Im excited to explore how organizational design and strategic people development can support those goals. I also felt like I would be limited in my approach given my background as I didnt have an understanding of the bigger picture decision-makers were facing. I saw an MBA as that bridge between gaining the foundational business acumen and allowing me to pivot into a field that would allow me to get the hands-on experiences I thought would drive my long term career growth. Did you experience any bumps along the road to business school acceptance? If so, how did you identify and address the issues? James: Absolutely. The first time I applied to business school, I applied to five schools and got rejected from every single one. The first thing I did was take some time off from the frenzy of MBA applications. During that time, I did a lot of reflecting and honing into what I wanted my personal vision of change to be and what strengths I thought I could bring to the table. I also took the GRE again (and improved two whole points!). At the end of the day, I think my applications the second time around were more authentic and better reflected who I was and what I wanted to do. The second time, I also applied to additional schools through The Consortium for Graduate Study in Management (CGSM) which was the biggest blessing. I hadnt applied to Ross the first time and only applied on a whim the second time. And it worked! Can you tell us more about the Consortium for Graduate Study in Management? What resources are available to fellows? James: The Consortium for Graduate Study in Management (CGSM) is a network for students who demonstrate a commitment to enhanc[ing] diversity and inclusion in global business education and leadership. There are currently 19 MBA programs in the Consortium, and, from a prospective student perspective, is similar to the undergraduate Common Application that helps to streamline applications to those member schools. Once accepted to one of the CGSM member schools, Consortium fellows are offered additional networking and professional development opportunities that prepare them for business school. Did you take the GMAT or GRE? How did you prepare? Any study tips that sound crazy, but really work? James: I took the GRE. I took a practice GMAT and those data sufficiency questions were just too much for me. I took a Manhattan Prep class which, more than the class itself, was really helpful in keeping me accountable for doing the studying (the course pace is about a workbook a week). The second time around, I used Magoosh which was great because the online question banks could be customized so I could focus on the types of problems that I found most challenging (anything probability/combinations/permutations). I think I also tried to keep everything in perspective. I knew that what was going to get me into a program was never going to be my test score or my GPA those were going to be fine and show that I can do the work, but those arent the strengths in my application. I instead decided to really focus on the areas where I thought I could control my essays and preparing for interviews. Did you participate in any extracurricular activities prior to applying to business school? How do you think these experiences contributed to the strength of your candidacy? James: My big extracurricular involvement post-college and pre-business school was getting involved with Teach For Americas LGBTQ affinity groups. I led the affinity group when I was in the classroom in Houston and served on the LGBTQ alumni board when I was in Boston after that. Inclusion and diversity are things that Im super passionate about and I identify as LGBTQ so doing those things made sense for me. It also fed into professional goals of thinking of how to foster inclusion as a means of enabling people to bring their full selves to the workplace so I think it all fit as well. Did you visit the Ross campus, either while researching schools or to interview? If so, what impressed you? James: I visited Ross for my interview and it was my first time on campus. The entire interview day was impressive. Compared to some of the other interviews that I did, I really appreciated the intentionality with which the admissions office and the current students approached the day. At some other schools, it felt like this was just another event on the calendar but you could tell that Ross cared about (and then took action on) making a strong impression on candidates. I think Ross does a really good job at aligning their brand and student culture with the evaluative exercises which helps the adcom make the best decisions but also the accepted students know what theyre getting into. Ross interview style is somewhat unique, as students participate in a team-based exercise. How does this differ from a traditional interview, and what was your experience with the exercise? James: There are two components to Ross interview: a 1-1 behavioral which is pretty straightforward and then the group exercise which is unique. I cant speak too much to this as I am a group exercise evaluator. Thinking back to my time as an applicant though, I remember not feeling too stressed about the process. Soojin has videos online that helped to ease any worries I might have and, having been through the process and evaluated them, can say that watching those videos are the best prep for it. What has surprised you most about Ross so far? James: Coming to Ross, I knew it had a very down-to-earth kind of culture. But Ive been surprised as to how grounded my classmates seem to be. In classes, no one is trying to impress anyone else or one-up someone which creates this very collaborative and open environment for people to ask questions and share their experiences. Can you describe REAL and MAP? How have you benefited from these experiences? James: REAL is the umbrella office that houses all of our action based learning so MAP falls under them. Action-based learning was a huge reason Ross stood out to me. I found out in college that I learn best by doing and wanted a program where it wasnt just something that you might do in one elective course but was built into the foundation of the program and theres no program where thats more true than Ross. Learning by doing is evident in all parts of our MBA program and it starts at orientation with the Business+Impact Challenge and continues with extracurricular activities like the Crisis Challenge. In that lens, MAP would be considered the capstone experience as its something all students complete. Its the last 7 weeks of your first year where teams of 4-6 work with a sponsor to present a strategy to solve some sort of challenge that organization is facing. Its a way for us to take everything weve learned in the core and apply it in the real world. During those 7 weeks, MAP is the focus and takes up the entire courseload so its something everyone goes through together. Im currently working with a tech startup in San Francisco thats looking to build out their employee volunteerism program. Were considering issues of employee engagement and motivation and thinking strategically about how the program can sustain an ever growing organization. We were just in San Francisco for a week onsite doing firsthand interviews and working on our strategy and recommendation now back on campus. Coming from the education space, social impact and volunteerism are important to me so its been a tremendous experience being able to think strategically about how to ingrain volunteerism into the fabric of the organization. Outside of MAP, there are additional curricular opportunities for hands-on learning through courses like the Living Business Leadership Experience and a course working with AT Kearney consultants on operations/supply chain related projects. And then, typical to all business schools, you can join clubs that work with local business/community partners to get hands-on experience and do case competitions. We also have a number of student investment funds that many of my peers participate in to get that experience. What do you love about business school? Whats the biggest challenge? James: Lets be honest, business school is fun. Its a two-year time when you get to take a step back from working life and spend time with some incredible human beings. Whether thats in study groups, lunches on campus, happy hour at a local bar, football tailgate, weekend trip, whatever, its a fun experience. Thats also the biggest challenge there are so many things to do and options that it can get really overwhelming. I think those who are most successful at business school have found out how to prioritize and say No such that they can protect their time and get the most out of their experience but doing that isnt always easy. What is a typical day like for you? James: A typical day is a mix of preparing for classes (working on problem sets, doing readings) and going to classes, meeting for group projects and extracurricular activities, and social engagements. Some of my classmates squeeze in a workout somewhere in the day also, I sometimes squeeze in a nap. During recruiting season, theres usually at least 3-4 recruiting events during the week and many networking calls in the middle. Can you tell us about recruitment at Ross? James: At Ross, like most other business schools, there are two routes: on-campus recruiting and off-campus recruiting.   On-campus is traditionally for the major functions (consulting, finance, marketing, operations, general management, human capital, and strategy) and for companies that have more formal recruiting practices. It involves campus corporate presentations and networking opportunities and is very structured.   Off-campus is traditionally for those with more niche interests or what we consider recruiting with companies that traditionally dont come to campus. Off-campus is basically how well all get jobs after business school and involves a lot of networking and sourcing opportunities on our own. What do you think your classmates would be surprised to know about you? James: Living in Ann Arbor will be the first time since leaving for college at 18 that Ill be living in the same apartment for more than 12 months Im so excited I dont need to pack! Where do you see yourself professionally in 5 years from now? James: I hope to still be in consulting and transiting more into managing and developing effective teams. I also assume Ill be at the point where Ill be specializing more in my practice and Im hoping to focus more on strategic priorities that involve organizational capacity and effectiveness. If you could relay one message to MBA applicants, what would it be? James: Take a deep breath and trust in the process. If it doesnt work out the first time, try again it worked for me. The more you can bring yourself to the process and be authentic, the more successful you will be. Do you have questions for James? Questions for us? Do you want to be featured in our next What is Business School Really Like? post? Know someone else who you’d love to see featured? Are there questions you’d like us to ask our students in this series? LET US KNOW! You can learn more about James by connecting with him on LinkedIn. Are you setting out on your own b-school journey? We can help you reach the finish line! Check out our MBA Admissions Consulting Services to team up with an admissions expert who will help you join the ranks of thousands of Accepted clients who get accepted to their dream schools. hbspt.cta.load(58291, '7de5e366-4f37-4aa9-8313-45a286c4665c', {}); For 25 years, Accepted has helped business school applicants gain acceptance to top programs. Our outstanding team of MBA admissions consultants features former business school admissions directors and professional writers who have guided our clients to admission at top MBA, EMBA, and other graduate business programs worldwide including Harvard, Stanford, Wharton, Booth, INSEAD, London Business School, and many more.  Want an MBA admissions expert  to help you get Accepted? Click here to get in touch! Related Resources: †¢ Why MBA, a guide to writing about your MBA goals †¢ Michigan Ross MBA Essay Tips Deadlines [2019 – 2020] †¢ Podcast Interview With Michigan Ross Directors of Admissions

Pain Affects - Free Essay Example

Sample details Pages: 1 Words: 375 Downloads: 6 Date added: 2019/06/10 Category Literature Essay Level High school Tags: The Giver Essay Did you like this example? Pain affects more Americans than diabetes, heart disease and cancer combined according to nih.gov. In the book The Giver, people have never experienced pain. In the community, there is no color, past, or pain. But a boy named Jonas can experience all of those things. The community should have pain, because it helps with growth, confidence, and connections with each people. People can have growth by learning from the pain. An example is Jonas is riding on his bicycle. Painfully righted himself and the bike, and reassured Gabe (171). This quote shows how Jonas continued in pain, yet he continued to reassure Gabe. Another example, is when Jonas is remembering a time when his friend was disciplined. He couldnt seem to stop, though for each lapse the discipline wand came again, escalating to a series of painful lashes that left marks on Ashers legs (55) This quote tells us that Asher learned from the pain, and grew as a three. From then on, he learned to keep his mouth quiet. Don’t waste time! Our writers will create an original "Pain Affects" essay for you Create order Pain can also help grow a personrs confidence. The book states Something within him, something that had grown there through the memories, told him to throw the pill away. This quote proves that even through all the memories off pain, color, and past. Jonas grew as a person, through all the memories he had received. Another example is when Jonas is thinking how the people would be able to handle all the past. Their attention would turn to the overwhelming task of bearing the memories themselves. This quote shows how much growth Jonas mustve had to endure the memories, compared to others who would be overwhelmed. Finally, pain can help people connect. In the book Jonas and Gabriel are hiding from the planes, under a bush, waiting anxiously. So always, when he heard the aircraft sound, he reached to Gabriel and transmitted memories of snow, keeping some for himself. Together they became cold; and when the planes were gone, they would shiver, holding each other, until sleep came again. (169.) This quote show how memories can help us connect with other people. Another example that proves my idea, The Giver would help them (161). This quote shows how memories can help people connect and relate to each other.

Barriers to Economic Growth in Bangladesh - 1885 Words

â€Å"For a developing country of your choice, identify and critically evaluate the barriers to growth and development. How can public policy attempt to lift those barriers?† This piece will look to identify and evaluate barriers to growth and development in Bangladesh, and then suggest ways of overcoming those barriers. Bangladesh has achieved significant results in her economic sector since her independence in 1971. Through the Nationalization Order of 1972, all key industries including jute, cotton textiles and sugar were vested upon the public sector. The wholesale nationalization of industries resulted in a low growth of the economy. The Gross National Product (GNP) per capita of the country grew at an average annual rate of 0.4 per†¦show more content†¦In South India the earnings connected to corruption for an executive engineer were as much as nine times his salary in the 1970s (Easterly, 2002 p.244). Increasing the salary of the employees would therefore reduce corruption. With Bangladesh’s high corruption levels and apparent lack of institutional quality, there is certainly scope for more FDI and therefore higher growth and development levels if bureaucratic corruption and institutional quality can be improved. Another major impediment to growth in Bangladesh is a rapidly growing labor force that cannot be absorbed by the agricultural sector. The agricultural sector is one of the main markets for Bangladesh, and a large proportion of Bangladesh’s FDI is concentrated on this sector. Underemployment is still a serious problem, and an increasing burden for Bangladesh’s agricultural sector will be its capability to absorb additional manpower. This is put into context by Todaro and Smith (2009, p.94), â€Å"Bangladesh has approximately half the population of the United States, squeezed into an area less than half the size of Wisconsin†. Finding alternative sources of employment will continue to be a daunting problem for future Bangladesh governments, especially with the increasing numbers of landless peasants who already account for about half the rural labor force. The overwhelming levels of manpower in the labor force tie in with another barrierShow MoreRelatedPolital Environment in Bangladesh1040 Words   |  5 PagesPolitical Environment in Bangladesh and its Impact on International Trade Introduction The interface between international trade obligations and domestic regulation of trade, health, safety and the environment, special and differential treatment of developing countries dictates whether a country will be able to gain from trade, commerce which contributes to development of a country. 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Corruption has been the problem belonging ever since from the human civilisation.Corruption is not a new phenomenon Bangladesh. It got heavily engaged with the administrative and socio ­political system of Bangladesh. The word Corruption came from the Latin word Rum ­pere which means breaking.†AccordingRead MoreMain Issues That Affect The Quality Of Access Education1688 Words   |  7 PagesThis paper discusses five main issues that affect the quality of and access to education in developing countries, namely; economic barriers, conflict barriers, climate change barriers, gender barriers, and language barriers. Definitions of ‘education’ such as â€Å"the acquisition of the art of the utilisation of knowledge† (Whitehead, 1966), or â€Å"making available to each generation the organised knowledge of the past† (Good, 1959, p191), or â€Å"the means whereby one generation transmits the wisdom, knowledgeRead MoreBangladeshs Trade Barriers in Global Perspective - a Comparative Analysis11770 Words   |  48 Pagescountries have high tariffs. Since early 1980s Bangladesh promoted trade mainly through removal of structural obstacles to production and trade. In this p aper a number of measures to determine crosscountry Trade Barrier were discussed. Though the methodology adapted by Dr Raihan got especial treat as it is current and relates to Bangladesh. Then Bangladesh’s progress of trade with SAFTA countries and other major trading partners were discussed. 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Mean Variance Optimisation in the market - Free Essay Example

Sample details Pages: 15 Words: 4485 Downloads: 9 Date added: 2017/06/26 Category Economics Essay Type Analytical essay Did you like this example? Mean-variance theory was developed in the 50s and 60s by Markowitz, Tobin, Sharpe, and Lintner, among others. It is still called Modern Portfolio Theory (MPT) by some people. Mean-variance theory continues to be the main workhorse on which analytical portfolio management is based. Don’t waste time! Our writers will create an original "Mean Variance Optimisation in the market" essay for you Create order The equilibrium version of mean-variance theory is called the Capital Asset Pricing Model (CAPM). The goal of the theory is to optimally invest funds in wide variety of assets. It is a quantitative tool, allowing making investment decisions by considering the trade-off between risk and return. There are single and multi period mean variance optimisers. Single-Period MVO considers designing of portfolio for single upcoming period and maximising return considering presumed level of risk. Multi-Period MVO is a strategy, rebalancing portfolio at the end of each period. 5.1 Single Period Problem [11]Inputs: o The expected return for each asset o The standard deviation of each asset (a measure of risk) o The correlation matrix between these assets Output: o The efficient frontier, i.e. the set of portfolios with expected return greater than any other with the same or lesser risk, and lesser risk than any other with the same or greater return. 5.2 Multi-period Pro blem Input: o The full historical data set Desired output: o The Geometric Mean Frontier; i.e. the set of rebalanced portfolios with greater geometric mean return than any other with the same or lesser standard deviation, and lesser standard deviation than any other with the same or greater geometric mean return 5.3 Benefits of MV optimiser [12]Satisfaction of client objectives and constraints. It is possible to integrate client constraints and objectives in MVO, which enables individual approach to each client, dependant on his risk acceptance level. Control of portfolio risk exposure. It is possible to control risk exposure of portfolio with the help of MVO. Implementation of style objectives and market outlook. It is possible to reflect company s investment style, philosophy and market outlook in MVO. Efficient use of investment information. MVO is designed to reflect all the relevant information available for the optimisation of the portfol io. Timely portfolio changes. MVO is capable of processing large volumes of data very quickly, which is useful for large organisation, that need to incorporate this information in there portfolios in order to reflect the changes in environment. Portfolio management is the process of managing assets of a mutual fund, including choosing and monitoring appropriate investments and allocating funds accordingly. A mutual fund is an open-ended fund managed by an investment company which raises money from shareholders and invests in a group of assets. Mutual funds raise money by selling shares to the public. [1] In return for the money, shareholders receive an equity position in the fund and, in effecting each of its underlying securities. Investors often hold more shares in more than one company and there are two approaches to portfolio management. The two types are: Active Passive Maximising the expected utility of the excess return over a chosen benchmark is known as active portfolio management, whilst passive portfolio management just tracks the benchmark. The simplest example of passive management is the index fund that is designed to replicate exactly a well-defined index of common stock, such as SP 500.The fund buys each stock in the index in exactly the proportion it represents the index. If J.P. Morgan Chase represents 3% of the index, the fund places 3% of its money in J.P. Morgan Chase stock. Every portfolio manager needs to decide if s/he will approach an active or passive approach to portfolio management. Factors that needs to be considered when choosing a portfolio strategy are the following: Cost/ Fees It s much cheaper to run an indexed portfolio than an actively managed one. Every time a portfolio manager is trading on behalf of an investor and is adjusting the portfolio the investor is charged a fee, which is often a substantial amount of money, and sometimes can prove to be too costly if the returns are not high. Taxes Index funds sell stock only when companies enter or leave the index they re mirroring, which is infrequent, so shareholders rarely incur capital-tax gains tax. In contrast to active management, every time a sale has made a profit shareholders are liable for capital gains tax. State of the economy some firms may be very sensitive to the state of the economy, some not so. The index decreases during a recession, so investors need to be aware of which companies are very susceptible to the state of the economy. For example during a recession share value of Tesco may not decrease as much as share price of a manufacturing firm during a recession. The reason being is that people still need to eat and so Tesco will have sales no matter what the state of the economy. Time Horizon Investors that want to invest in the long term, go for index, and will track the market. For example the SP 500 is higher today (even with the looming depression) at 1360.54 compared to 3 years ago at 1171.36 open on 31/1/05 (FTSE charting) Source: www.ft.com Investors investing over a short time period, such as day traders will actively manage a portfolio and be selling and buying shares very quickly and following the market very closely to make as much money as possible as quickly as possible. The time horizon can coincide with the goals they are trying to achieve, be it long, medium or short term. If the investor is faced with a short term goal, then it is possible that the investor will approach an active management strategy to make the most money as quickly as possible. Having an active approach over a long period of time can prove to be costly. Attitude towards risk an investor s attitude towards risk will play a integral part in the decision of managing a portfolio passively or actively. If I was an investor and my attitude was risk loving I would actively manage a portfolio, as this involves picking stock, based on forecasts of the stock being under pri ced and market timing. The believe, is the higher the risk the higher the return. However if I were a risk averse investor I would not like to run the risk of individually picking stock and would prefer to spread the risk by investing in a well-defined Index. Both strategies have its positive and negative points and the approach taken by the investor is depended on personal preferences to risk and the situation the investor is facing. I, personally, would take the passive approach to portfolio management. The reasons behind this choice is that I am risk averse, so I would not like to run the risk of picking stock in the believe that the market has not been able to price the stock correctly and instantaneously to its true value. The costs of managing an active portfolio are high. These costs include transaction costs and taxes. So to reduce my costs of managing a portfolio I would choose a passive approach so that I am not paying out to brokers and to the government. Lastly I b elieve that the market is efficient and so this does not allow big amounts of profits to be generated as the market corrects any inefficiency. Q1b) The CAPM provides the relationship between an investments systematic risk and its expected return. The treatment of risk in the CAPM refines the notions of systematic and unsystematic risk developed by Harry. M. Markowitz [3] Unsystematic risk is the risk to an assets value caused by factors that are specific to an organisation, such as quality of management, RD, marketing effectiveness. A fundamental principle of portfolio theory is that unsystematic risk can be diversified away. Systematic risk is risk that cannot be diversified away. This risk represents the variation in an assets value caused by economic fluctuations. The market only provides a return for risk that cannot be diversified away. The CAPM assumptions can be divided into two groups. First set of assumptions are for the investors and the second is for the fi nancial market environment within which investments are bought and sold. The assumptions behind CAPM for investors are 1. Investors are rational, risk averse and utility maximisers 2. Investors perceive utility in terms of return. 3. Investors measure risk by the standard deviation of return 4. Investors have a single period investment time horizon 5. Investors have the same expectations about what the future holds. The assumptions for the financial market are perfect and that 1. there are no taxes 2. there are no transaction cost 3. investors can both lend and borrow at the risk free rate of return. As one can see these assumptions are highly restrictive and not a real representation of reality, as we live in complex world. Yet with these set of assumptions the model still gives an accurate picture, to a certain extent, of what investors experience when investing. I will go through all the assumptions in turn and explain what the result will be i f they are untrue. Firstly in reality investors may be rational but not all are risk-averse, some are risk-loving and will be high risk investors in the hope to reap in high returns. This may not be the most efficient portfolio or share and as a result the investor will not be on the Capital Market Line. Secondly if the assumption of investors perceive utility was untrue then it would not be possible to measure the efficient portfolio set. Whilst return is a dominant factor in determining utility other factors come into play. An investor will consider utility factors such as: will this investment complicate my tax calculations Would I be better off consuming this wealth instead? Could the investor gain any lifestyle benefits from this investment (ie. Art) Thirdly, not all investors understand statistics and hence do not know what standard deviation is so investors do not look at the standard deviation of return. Alternatively they can see risk in terms of the st ate of the economy, recent business conditions and trading information. As a result the CAPM should not solely rely on standard deviation of returns, as the measurement of risk is more complex and certain aspects are difficult to measure. In addition, investors rarely have a single time period of investment time horizon. All investors are different and have different time horizons of investment. For this reason this assumption makes the model static, but as we very well know the world is dynamic in which investors are free to manipulate their portfolio. One of the other assumptions of the model is that all investors are homogeneous and have the same expectations of the future. Clearly this is untrue in the real world. Not all investors share the same view; some are optimistic others are not so. As a result this would lead to different investors to hold different portfolio sets. We have seen what the results are if the assumptions of the investors are untrue. Now I will move on to discuss what the results will be if the assumptions of the financial market are untrue. The figure below describes portfolio opportunities. The assumptions under CAPM The CAPM is important as it quantifies and prices systematic risk and expresses it relative to the market portfolio. Thus CAPM provides us with the expected return of any asset or portfolio based on its risk as measured by beta, the risk premium of the market, and the risk free rate. This model is constructed in a hypothetical world based on several rigorous assumptions, but like in any economic model, these simplifications are essential in developing a workable model in a complex and diverse financial world. The assumptions of CAPM and deriving the CAPM through a simple proof, as pointed out in Elton and Gruber[1] are as follows. The first of all assumption to take is there are no transaction costs. This assumption implies frictionless markets; however in reality transaction costs play a varied part in investment decisions. If transaction costs were present, the return from any asset would be a function of whether or not the investor owned it before the decision period. Thus transaction costs play an important role in reality as in most cases as it is not instantaneous shifting one portfolio of assets to another, and also the delivery costs may dissuade an investor even though it might be an included to form an optimum portfolio. Portfolio theory is also called modern portfolio theory which was developed by Harry Markowitz in his famous paper Portfolio Selection in 1952. Before he developed this theory, investors had no specific measurement of risk. It is the theory that explains why the investors should choose several investments, rather than put all of their funds in just one. In his paper, he used some scientific methods and logical reasoning to demonstrate how the efficient portfolio theory works. It includes some assumptions to reinforce the theoretical model and applying the deductive and inductive reasoning to develop the theory. Also he used some mathematical ways to explain how the model works underlying the assumptions. Under these methods, it displays how the investors should select their efficient portfolio of investments. Before analyzing the portfolio theory, I should explain and illustrate some terminology which relates to the scientific and logical reasoning, including theory, model, assumption, inductive and deductive reasoning. One definition of assumption from the Oxford English Dictionary is That which is assumed or taken from the granted; a supposition, postulate . From the definition, we can see the term of assumption is a statement or a fact to consider as the truth. In other words, it is an idea to be accepted without the experimental proof as the basis of argument. Assumption is a basic condition as the part of logical analysis and comes into being before the theory formed. Moreover, the development of theoretical model is underlying the assumptions. So it is a limited statement that cannot be treated as the principle and theory. As the example I mention above, before Newton developed the Gravity Theory, he used the existence of earth gravity as the assumption and then proved it through the lots of experiment. There are lots of explanations of model in the Oxford English Dictionary. One of them relates to the topic I discuss by explaining model is A simplified or idealized description or conception of a particular system, situation, or in the mathematical terms, that is put forward as a basis for theoretical or empirical understanding, or for calculation, prediction, etc . Although model also can be seen as a system, it is not a universal idea like theory. A model is a scientific statement through some experimental proof and is only accurate in the limited situations. In addition, a model also can be seen as a part of proof in the process of inference in the theory and can be described as a mathema tical way. For instance, Helium atom model shows nucleus with two protons and two neutrons orbited by two electrons. There is no doubt that the effective argument needs the premises by logical steps to construct the valid conclusion. For a logical argument can take two shapes: Deductive and Inductive reasoning. In deductive reasoning, if the premises are true, the conclusion is impossible to be false. Although it is valid from the proof, it can also lead a false conclusion, the reason is that the premise is incorrect. So the validity of the deductive reasoning depends on the truth of the premises. For example, the sum of the angles for any triangles is 180 degree, so we can conclude that a triangle whatever the shape is, its angle must be 180 degree. In inductive reasoning, the premise with some degree of the probability supports the conclusion, but do not sure the validity of the conclusion. In fact, it is not logically valid and can never be used to provide proofs, because t he conclusion is drawing under the experience and observations. In some logical terms, it defines as from general to special . For instance, one day you see lots of people who do the presentations wearing the suits in the university. Then you conclude the people who wear the suits in university must have the presentation today. Obviously, the conclusion does not make sense. If people who have the presentation or not, it can not depend on wearing the suits. Instead, inductive reasoning need collect lots of information and evidences, in order to reach an appropriate conclusion. So the development of theory, it needs to construct propriety assumptions and using some theoretical models and logical reasoning to demonstrate them. From the definition of theory, we can conclude the modern portfolio theory is an acceptable general principle to explain the investment behavior and investors can choose the efficient portfolio base on both the expect return and variance of return. In the p aper Portfolio Selection , Markowitz also applied these logical and scientific methods to develop his theory, I will discuss below. Markowitz noted that there are two stages in the process of selecting a portfolio. The first stage starts with observation and experience and ends with beliefs about the future performances of available securities . Stage two starts with the relevant beliefs about future performances and ends with the choice of portfolio. In his paper, he considered the process of second stage. Firstly, he rejected the hypothesis that the investor does (or should) maximize discounted expected, or anticipated returns because it never implies that there is a diversified portfolio which is preferable to all non-diversified . Then he applied the reductive reasoning to explain the rejection of the hypothesis in terms of observed experience and logical reasoning. From the observed experience he referred to diversification is both observed and sensible . However the rule of behaviors does not imply the superiority of diversification . Then he concluded this hypothesis should be rejected. In other words, the argument gives a premise that any acceptable theory attempts to account for investment behaviors must not contradict observed experience. However, the hypothesis contradicts the observed experience. According to the deductive reasoning, the conclusion is the hypothesis is not an acceptable theory to explain the investment behaviors. Markowitz noted that there are two stages in the process of selecting a portfolio. The first stage starts with observation and experience and ends with beliefs about the future performances of available securities . Stage two starts with the relevant beliefs about future performances and ends with the choice of portfolio. In his paper, he considered the process of second stage. Firstly, he rejected the hypothesis that the investor does (or should) maximize discounted expected, or anticipated returns because it never implies that there is a diversified portfolio which is preferable to all non-diversified . Then he applied the reductive reasoning to explain the rejection of the hypothesis in terms of observed experience and logical reasoning. From the observed experience he referred to diversification is both observed and sensible . However the rule of behaviors does not imply the superiority of diversification . Then he concluded this hypothesis should be rejected. In other words, the argument gives a premise that any acceptable theory attempts to account for investment behaviors must not contradict observed experience. However, the hypothesis contradicts the observed experience. According to the deductive reasoning, the conclusion is the hypothesis is not an acceptable theory to explain the investment behaviors. From the logical reasoning, the rejection of the hypothesis also can be proved. Markowitz said the hypothesis implies that the investor places all his funds in the security wit h the greatest discounted value . Then he used the mathematical way to analyze the discounted return of two or more securities and give the conclusion that there is no evidence to show a diversified portfolio preferred to all non-diversified portfolios. So we rejected the hypothesis. It is also an example of deductive reasoning. After the rejection of the hypothesis, Markowitz indicates one of variation of hypothesis that the investor should diversify and that he should maximize expected return . He argued that adjusted hypothesis depended on the assumption that there is a portfolio which gives both maximum expected return and minimum variance . From the observational evidence, the assumption is not unreasonable, because the return on securities are too inter-correlated so that this kind of portfolio is difficult to exist. Then he concluded that the portfolio with maximum expected return is not necessarily the one with minimum variance . It can be seen as the example of reductive reasoning, Due to the hypothesis is inadequate to explain the investors behaviors. Markowitz developed a new hypothesis, which is investor does (or should) consider expected return a desirable thing and variance of return an undesirable thing and used Expected Return-Variance of Return Model (E-V rule) to explain it, Under the E-V model, Markowitz used a number of assumptions to reinforce the theoretical model. Firstly, the investors consider the return on investment alternative as being represented by a probability distribution of rates of the investment outcome. Secondly, investors measure the risk using the variance of return. Also in a portfolio of shares, they calculate the risk by using the covariance computations. In addition, investors are willing to basing on decision on the two parameters the expected return and variance of return in their investment. Finally, it assumed the risk-averse behaviors; an investor will select the efficient portfolio. For a given level of risk, investors prefer maximum expected return. Similarly, for a given expected return, investors prefer minimum risk. (Richard Dobbins, Stephen Witt and John Fielding, 1994) Markowitz argued that the E-V rule is used both as a maxim to guide the investment behaviors and as a hypothesis to explain it. Also using mathematical analysis to show the investors can select the efficient portfolio from the combinations of expected return and variance. One reason of rejecting the expected return rule that is never implies the superiority of diversification. So Markowitz used the deductive logic to conclude it does not mean that the E-V rule never implies the superiority of an undiversified portfolio . He indicated the one particular undeversified portfolio would give maximum expected return and minimum variance . However, most of efficient portfolios are diversified which is underlying the E-V rule. In the end, he concluded not only does the E-V hypothesis imply diversification, it implies the right kind of diversification for the right reason . He also indicated that the adequacy of diversification is not thought by investors to depend solely on the number of different securities held , because in the real world, the same industries have the similar economic characteristics. It is likely for the same industries to performance badly at the same time. Using the point as the premise, according to the inductive reasoning, he concluded that diversification depends on the investment on the different kind of industries. Moreover, the firms in different industry have lower covariance than the firms in the same industry. In order to avoid the high covariance in the portfolio of securities, the investor should select the securities in the different industries. Portfolio theory that was established in the early 1950s has five basic assumptions, which are: Agents prefer more wealth to less. Agents are risk-averse and require a higher expected rate or return for taking on more risk. The rates of return follow a normal distribution. This means that the risk of an individual security can be measured by its standard deviation. The wealth-holder cannot affect the probability distribution of the security held. The theory considers only existing assets not new issues. (Keith Pilbean, finance financial markets, published 1998, page 130). The return of assets on a portfolio can be observed by the next expression: N Rp=SwiE(Ri) I=1 Where we can say, that Rp is the price weighted return on a portfolio of risky assets, wi is the price-weighted proportion of a portfolio spent in asset i, Ri is the return on the asset i in the portfolio and N is the amount of securities in the investors portfolio. Furthermore, the average expected return on the portfolio is shown by the following expression, where E (Ri) shows the average expected return on asset I, and the E (Rp) is the average expected return on the portfolio. N E(Rp )=SwiE(Ri) i=1 isk/standard deviation When a portfolio dominates another, it will happen because either it has the same standard deviation, or it has a lower standard deviation and the same expected rate of return as another portfolio, and this is called the dominance principle. We can read from the graph that portfolio A dominates B and B dominates C and D. But not all combinations are of interest since some of them dominate others. In this case, we can see that A dominates C and E dominates portfolio F, so our attention focuses only in the thick black part of the efficiency frontier. The portfolios that dominates the others portfolios is the so-called efficiency frontier. Furthermore, all dominated portfolios are called inefficient portfolios and the portfolio that for a given level of risk offers the highest possible return is called efficient portfolio. A technique, which is known as quadratic programming, and comes from the Markowitz method, can give us the mathemat ical solution for the portfolio efficiency frontier. The basic ingredient in this technique is to calculate a reachable target rate of return X% and then find a set of weights wi, which attains this target with the minimum of variance, which is illustrated next: N N N s p=Sw i s i +S S wi wj sij I=1 I=1 I=1 i =j Then by using the diversification, the risk can be reduced until the minimum risk of a given return is reached. This can be achieved by minimizing the correlation among the rates of return on two or more securities. However, this method has a major problem, which has to do with the amount of covariances that have to be calculated. In N securities the formula that is used is (N N)/2 and we think of 500 securities then the covariances goes over the number of 120.000. but even in N securities the risk of every combination will be less than the weighted average of the securities that make up the portfolio. The MVO Scenarios Commodities Scenario -1 Bonds and Equity Scenario (2) Commodities Scenario -3 Forex Scenario -4 Minerals Scenario -5 Security scenario 6 Securities Forex Scenario 7 Insurance Scenario 8 Mutual Funds Scenario -9 Real Estate Scenario -10 Elton and Gruber Modern portfolio Theory and Investment Analysis p285 l CAPM Empirical Problems and the Distribution of Returns p. 1 l Eugene F. Fama and Kenneth R. French, The Capital Asset Pricing Model: Theory and Evidence l Cheol S. Eun The Benchmark Beta, CAPM, and Pricing Anomalies Oxford Economics Papers 46(1994) ________________________________________ [1] Elton and Gruber Modern portfolio Theory and Investment Analysis p285 [2] CAPM empirical problems and the distribution of returns p. 1 [3] Elton, Gruber, Das and Hlavka, 1993 [4] Eugene F. Fama and Kenneth R. French, The Capital Asset Pricing Model: Theory and Evidence

Inquiring Minds Want to Know - 1021 Words

Case Assignment 2 Liberty University BUSI 600 Abstract This paper defines Penton Media’s sampling plan and research design for their study on if their reader service cards are still successful in getting buyer’s attentions. There are five questions that develop the sampling plan and Penton Media’s answers to these questions are described in this paper along with the strengths and weaknesses of their decisions. Their research design is also explained in the eight categories given. Finally, the strengths and weaknesses of their research design are given. Case Assignment 2 Penton Media has designed a research study to determine if the reader†¦show more content†¦For data gathering, a communication study was used in the form of a survey. Ex post facto extent of control was used since Penton Media can’t change the results and have to report the results they receive. The purpose was chosen as a reporting study as they are compiling data and providing a summary of the survey results. This study’s time frame is cross-sectional with a survey being sent out once for the formal results. The topical scope is statistical because it wants to compare characteristics and draw conclusions. Field conditions were used in this study because there is no change in the surveyor’s environment. Finally, the participant’s perceptions are not changed and they are aware of the research being conducted. Strengths The strength of this study is in the ex post facto design where Penton Media has to report from the survey results. There is no way that Penton Media can change or modify the results so this makes the research more reliable and dependable. Another strength is that the participant’s environment and perceptions aren’t changed or affected. This makes for more honest and trustworthy results. Weaknesses A communication study is great for the research question that Penton Media is trying to answer. However, they could also get more data from their advertisers. 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Primary or Secondary Research Free Essays

Should I use Primary or Secondary Research in my Dissertation? our site – CUSTOM ASSIGNMENT WRITING – DISSERTATION EXAMPLES So, you are starting to think about your dissertation, and you’ve grasped the basics including the difference between primary and secondary research. However, understanding what the differences are won’t necessarily help you to decide whether you should go for a secondary-data based, literature-review style dissertation, or get to grips with primary research. This guide is designed to help you decide what’s best for you. We will write a custom essay sample on Primary or Secondary Research or any similar topic only for you Order Now Overview of the Differences Just to remind you, there are clear differences between primary and secondary research. Primary research means research which is carried out for the purposes of your study. Secondary research is information that already exists. Many people chose to do an extended literature review, and this is the main type of secondary study. Secondary data can include journal articles, textbooks, online sources, company and industry data and other types of information. However, you might also decide to carry out new analysis on existing data, for example SPSS analysis on a large dataset collected by other researchers. This is another form of secondary research. Primary or Secondary Research: How to Decide Your tutor, professors or department might have a preference for the type of dissertation you do. In some subjects you might be strongly advised to do a primary study; in others it might not be practical (English language or Philosophy, for example). To some extent, whether you chose primary or secondary research will also depend on your research question. If the area is under-investigated, adding to the body of existing information by a small-scale study might make sense. Also listen to what your tutor suggests. He or she might feel that a primary study would be worthwhile. You might feel negatively about primary research, imagining that it will involve more work, or be more difficult, but you can access a great deal of help along the way, either from your tutor or online, and the experience will be valuable for you in your future career. If you are particularly interested in exploring theory you might want to consider secondary research . You might feel strongly that one or other model is better than another, feel that a new model needs to be developed, or want to review a large amount of existing research in the field. You might want to look at the usefulness of existing theories for understanding particular circumstances or behaviour patterns, for instance, or review the existing studies in a particular field. It is easy to assume that secondary research studies are easier, but this is not the case. You will need to evaluate the importance of the material you look at, compare and contrast the theories put forward, arrange the material in a logical way, and critique and analyse it in much more detail. If you decide to do a primary research study, you will also need to decide whether to collect qualitative or quantitative data. You might also decide to use a mixture of both types of data. Qualitative studies are useful for finding out why people behave as they do, what they think about issues, and how they feel in depth and emotionally. Quantitative studies are appropriate to questions of number, amount, and for dealing with measurable phenomena. Bibliography PlymouthUniversity (2013) ‘Writing a Dissertation’ [online] (cited 4th March 2013) available from http://www.learningdevelopment.plymouth.ac.uk/LDstudyguides%5Cpdf/Writingadissertation.pdf University of Birmingham (2013) ‘Research Methodologies’ [online] (cited 4th March 2013) available from http://www.socscidiss.bham.ac.uk/methodologies.html University of Reading ‘Researching your Dissertation’, [online] (cited 4th March 2013) available from http://www.reading.ac.uk/internal/studyadvice/Studyresources/Essays/sta-researchingdissertation.aspx How to cite Primary or Secondary Research, Essays