Thursday, December 26, 2019
How to Research Loyalist Ancestors
Loyalists, sometimes referred to as Tories, Royalists, or Kings Men, were American colonists who remained loyal to the British Crown during the years leading up to and including the American Revolution (1775ââ¬â1783). Historians estimate that as many as 500,000 people ââ¬âfifteen to twenty percent of the population of the Coloniesââ¬â opposed the revolution. Some of them were active in their opposition, actively speaking out against the rebels, serving with British units during the war, or supporting the King and his forces as couriers, spies, guides, suppliers, and guards. Others were more passive in their choice of position. Loyalists were present in large numbers in New York, a refuge for persecuted Loyalists from September 1776 until its evacuation in 1783. There were also large groups in New Jersey, Pennsylvania and in the southern colonies of North Carolina, South Carolina and Georgia.1 Elsewhere they were a large minority of the population but least numerous in Mas sachusetts Virginia. Life as a Loyalist Because of their beliefs, Loyalists in the Thirteen Colonies were often treated as traitors. Active Loyalists may have been coerced into silence, stripped of their property, or even banished from the Colonies. In areas under Patriot control, Loyalists could not sell land, vote, or work in occupations such as doctor, lawyer, or schoolteacher. The outright hostility against the Loyalists both during and following the war ultimately resulted in the flight of about 70,000 Loyalists to British territories outside the colonies. Of these, approximately 46,000 went to Canada and Nova Scotia; 17,000 (primarily Southern Loyalists and their slaves) to the Bahamas and West Indies; and 7,000 to Britain. Among the Loyalists numbered not only colonists of British heritage, but also Scots, Germans, and Dutch, plus individuals of Iroquois ancestry and former African-American slaves. Begin with a Literature Survey If you have successfully traced your ancestry back to an individual living in America during the American Revolution, and clues seem to point to him being a possible Loyalist, then a survey of existing published source materials on Loyalists is a good place to begin. Many of these can actually be researched online through free sources that publish digitized version of historical books and journals. Use search terms such as loyalists or royalists and your area (state or country of interest) to explore available resources online in Google and in each of the historical books collections listed in 5 Free Sources for Historical Books Online. Examples of what you can find online include: Siebert, Wilbur H. The Loyalists of Pennsylvania. The Ohio State University Bulletin, 24 (April 1920). Digitized copy. Archive.org. http://archive.org/stream/pennsyloyalist00siebrich#page/n3/mode/2up : 2013.Lambert, Robert Stansbury. South Carolina Loyalists in the American Revolution, second edition. Digital book. Clemson: Clemson University Digital Press, 2010. http://www.clemson.edu/cedp/cudp/pubs/lambert/lambert.pdf : 2013. When searching specifically for historical publications, try various combinations of search terms such as United Empire Loyalists or loyalists pennsylvania or south carolina royalists. Terms such as Revolutionary War or American Revolution can turn up useful books as well. Periodicals are another excellent source of information on Loyalists. To find articles on this topic in historical or genealogical journals, conduct a search in PERSI, an index to over 2.25 million genealogy and local history articles appearing in publications of thousands of local, state, national and international societies and organizations. If you have access to a university or other large library, the JSTOR database is another good source for historical journal articles. Search for Your Ancestor in Loyalist Lists During and after the Revolution, various lists of known Loyalists were created which may name your ancestor. The United Empire Association of Canada has probably the largest list of known or suspected Loyalists. Called the Directory of Loyalists, the list includes about 7,000 names compiled from a variety of sources. Those marked as proven, are proven United Empire Loyalists; the rest are either unproven names found identified in at least one resource or those who have been proven NOT to be Loyalists. Most of the lists published during the war as proclamations, in newspapers, etc. have been located and published. Look for these online, in U.S. state archives, in Canadian provincial archives, and in archives and other repositories in other areas where Loyalists settled, such as Jamaica. --------------------------------Sources: 1. Robert Middlekauff, The Glorious Cause: The American Revolution, 1763ââ¬â1789 (New York: Oxford University Press, 2005), pp 549ââ¬â50.
Wednesday, December 18, 2019
Analysis Of The Book The 57 Books By Elie Wiesel
EXPOSITION: Night, in its original Yiddish form, was the first of the 57 books written by Elie Wiesel till date. The book titled Un di velt hot geshvign (And the World Remained Silent) in Yiddish, was published in abridged form in Buenos Aires, Brazil. Wiesel rewrote a shortened version of the manuscript in French, which was published as the 127-page La Nuit, and later translated into English as Night. The book gives a detailed and heart wrenching first person account of the activities that took place in the concentration camps under the Nazi rule during the Second World War. It describes how Elie, then a small boy, was severed from his mother and sister forever, and how he lost his father, his faith and also the will to survive by the end of his unimaginable ordeal. At first, the book did not become very popular because it brought forward the darkest zone of humanity; it broached a topic that the world wanted to leave untouched, forgotten. But that is exactly what Wiesel did not want to let happen. One of the great successes of this hugely appreciated and critically appraised book was that it managed to bring out the stark reality of the concentration camps, the Nazis, the Polish and all the people in the world who kept silent on the face of such atrocities meted out to their fellow citizens. Wiesel once remarked that the opposite of good was not evil, but indifference. The horror of the Holocaust was not only the acts committed by a section of people but the fact that aShow MoreRelatedTeaching Reasoning Methods in the Classroom Essays2083 Words à |à 9 Pagesadd up to analysis. Analysis is a more exact process than simply playing critic. In An Introduction to Student Involved Assessment for Learning, Rick Stiggins (2012) walks the reader thro ugh a variety of reasoning methods including but not exclusive to analysis, synthesis, and evaluative reasoning. He helps the reader to understand the importance of the cognitive processes behind education and how sometimes the means are more valuable than the ends. According to Stiggins (2012), analysis involvesRead MoreAwareness6564 Words à |à 27 Pagessocialisation and a better transmission of memories.20 Schacter21 highlights the primordial role that literature and the arts in general play in the recalling of memories and in the construction of autobiographical memory and ââ¬Å"narrative identity.â⬠22 The analysis of numerous literary works has indeed shown that it is through the writing process that memory is constructed and that seemingly lost memories can re-emerge. For instance, Marcel Proust considered the ââ¬Å"search for lost time,â⬠or the ââ¬Å"remembrance of
Tuesday, December 10, 2019
Understanding the IT Virtualization Concepts
Question: Describe about the Understanding the IT Virtualization concepts, solutions and patterns in todays Organizations? Answer: Executive Summary The technology keeps on developing, and the need for generating virtual systems for refreshing the behavior of the real environment has become a major role of the IT software providers. For making a virtual environment, IT professionals have to use virtualization through developing a server implementation, investigating the requisition or operating system renovation as well as examining the use of software technology in the development habitat. This study has demonstrated the use of virtualization considering Citrix as the case organization. The study has shown that the importance of IT virtualization is increasing with a great speed where many business territories like Citrix are using virtualization to sprint live arrangement of servers to provide discharge, privacy, reliability and a nominal cost for hardware possession. With the help of server virtualization environments one hardware platform is able to deliver many servers or remote agency. The study has also revealed that different vendors are providing software and hardware virtualization results to the customers. This report enables the user to access either server-based virtualization or desktop-based virtualization. Developing a virtualization environment requires an understanding of the host system and its shortcomings including the need of the guest operating system. The overall study of this report encourage the reader to explore how virtualization can be imple mented in an organization and what are the possible steps for maintaining virtualization solution. 1.0 Introduction Virtualization is a software technique, which allows running numerous operating systems and different applications on the identical server at the same time (Lim et al. 2015). In the field of computing, the act of creating a virtual version of any technology includes virtual operating system, virtual storage gadget, and several resources of computer network (Li et al. 2013)). The implementation of virtualization in different IT services enables to transform the IT scenario. To perform this study, Citrix System has considered as the case organization. It is a multinational software company whose primary motive is to develop mobile workspace technologies, which comprises of virtualization, networking, mobility management, and cloud services (Hodge et al. 2012). In the first section, the evaluation of current virtualization solutions is mentioned which has been adopted by any organization. The later discussion contains potential benefits of virtualization and assessment of the technology requirements for improving the productivity of the chosen group. At the same time, an analysis of the needs for implementing virtualization and designing of a virtualization solution by a preexisting virtualization technique has been discussed. Systematic testing of virtualization environment in the chosen company and identification of the critical environmental factors within the enterprise that have a great impact on its virtualization solution has been discussed. Documentation and analysis of the test results of the test carried out in the previous section and how it impacts on the virtualization solution of the organization chosen. In the last part of the report monitoring the virtualization environment of the selected organization, measures that can be taken by the chosen company to maintain a virtualization have been discussed. Understanding the Commercial Impact and Potential of Virtualization Current Virtualization Solutions in an organization In this, new era of science and technology, application of computer-networking is getting sophisticated which results in demanding network security issues. Notably, virtualization in small enterprises is reducing the time disbursed on daily IT administrative tasks, like managing and summing up of new server tasks at hand, the addition of new employees or enlarging and projecting new applications. These techniques serve the business needs of the small enterprises (Marakas et al. 2014). Some companies like Citrix System, VMware, Oracle, Red Hat, Oracle, Amazon, Google, Virtual Bridges, Parallels, Proxmox etc. are providing the best software solutions are using virtualization (Demestichas et al. 2013). Examples of small and medium sized organizations that are using virtualization solutions are VMware and Proxmox. (Bennett et al. 2012). The virtualization solutions implemented in VMware are VMware vSphere Essentials Plus, VMware vCloud Suite and VMware Horizon Suite. (Tsugawa et al. 2012). The application of VMware vSphere Essentials Plus is to start quickly the virtualization in small organizations and allows gaining the interest of server association and business progression (Lim et al. 2015). VMware vCloud deals with providing the components to convey infrastructure as a supply and rapidly evolve a data center into an easy moving private cloud. VMware Horizon Suite allows IT to convert physical and virtual applications and desktops into consolidate IT services that can be delivered safely to end users on their devices. (Tzanakaki et al. 2013). On the other hand, Proxmox implemented two virtualization solutions that are, Proxmox Mail Gateway and Proxmox virtual environment. A full virtualization management explanation is explained by Proxmox virtual environment, which is based on KVM and storage virtualization. While Proxmox mail gateway is a displayed mail proxy resulting in virus and spam filtering. It protects the mail server contrary to all email threats (Tzanakaki et al. 2013). Examples of two large organizations include Amazon and Google. Virtualization solutions used in Amazon includes paravirtual (PV) and hardware virtual machine (HVM). (Marakas et al. 2014). PV AMIs enables booting with a special boot loader named as PV-GRUB, which outset the boot cycle and then order loads the kernel mentioned in the menu (Li et al. 2013). HVM AMIs replenishes the strength to run an operating system precisely on top of a virtual machine beyond any adjustment (Yemini et al. 2013). On the other hand, Google uses Ganeti, which is a virtualization solution and helps in disk formation, OS installation, migration, creation and shutdown and can be recycled to shift a virtual machine slender by a physical system preemptively (Christensen et al. 2012). Potential benefits of virtualization Proper utilization of virtualization solution enhances the effectiveness of hardware with appropriate care to solve the problem if any. In the todays world of IT enterprises, the application of latest technologies that enables businesses to rise gradually thereby meeting customer needs (Christensen et al. 2012). Virtualization automation approves a virtual figure on an instrument, which is possibly re-imaged on other server when there is a failure in machine (Xavier et al. 2013). Virtualization of systems allows averting system striking caused due to software like device drivers. To get greater reliability, availability, and security VT-d for Directed I/O Architecture imparts methods for controlling the system devices in a better way using the construction of DMA and remapping of interrupt to individual the improved separation of I/O resources (Rost et al. 2015). Virtualization is adopted for collection of ineffective servers that can be exchanged against fewer machines. Moreover, software is tested even when separated in a safe virtual barriers and data centers can skillfully yield to new technologies, shifting work models and unstable corporate superiority using virtualization. Virtualization reduces the VMM complexities, upgrades reliability, allows protection and security, and improves the functionality, efficiency and performance (Tsugawa et al. 2012). The benefits that the selected company named Citrix is obtaining by virtualization include cloud-based storage techniques, XenApp, and XenDesktop (Kerravala et al. 2013. Cloud-based storage method allows Citrix to store the data of the customers in the cloud and enables to mobilize the date of the customers of Citrix, which they already contain (Demestichas et al. 2013). Now the application of XenApp is to transform Windows apps into a shielded mobile services, on the other hand, XenDesktop provides power to complete virtual desktops that are the applications of virtualization used in Citrix (Lim et al. 2015). Current technology requirements for implementing virtualization in a small medium enterprise Virtualization not only enhances the hardware regulation, but it also reduces the time that was taken to install a new server online. However, to implement IT virtualization technology, a small and medium size organization is required to be fulfilled the below mentioned requirements: The technology of virtual machine sprawl has become one of the primary concern facing by many small, medium enterprises that are using desktop and server virtualization (Yang et al. 2013). The ability for creation of virtual machines without the controlling and disciplinary acts of the physical world resulting in devices being provided unnecessarily Email, messaging, databases and storage facilities are the examples of information technology that encounters sprawl issues and are solved by virtual machine sprawl (Sun et al. 2013). The egenera vBlade technology provides support to the processor that can install the intricacy and restore all the trouble created by alteration of the hosts and the OS systems (Rost et al. 2015). It virtualizes and manages resources on a frame comprised of two-socket and four-socket x86 servers including storage and switches (Demestichas et al. 2013). The enterprise that has the unified content platform can debug and modify all the mistakes made by the cloud technology (Bennett et al. 2012). The free products could be handled by setting up the applications and the platforms which actually tries to debug and bring an approach (Uddin et al. 2012). Some of them are: VMware Ready seeks to implement proper management and mechanization that support the system against all features. Embedded OEM tried to evolve the coding stream, which has a business comprises of logging and automation services. ISV Centre focuses on the machines that can handle the physical mobility and manage the different platform levels. VMware Solution Exchange provides more concrete solutions by tracing the applications that are essential to execute the outcome and decide confidence (character). Each organization has some unique requirements, and similar steps are intricate in creating a good technology plan (Peng et al. 2013). Centric Systems can implement these five steps in developing technology plan: Firstly, the accessible technology strategy must be defined to clarify that whether the proposed technology can be used in the business or not (Drutskoy et al. 2013). Secondly, a comprehensive set of necessity has been developed to describe the accessibility requirements of Citrix and thereby assessing the latest technology (Dong et al. 2012). Thirdly, the purchasing of accessible technology is required, and identification of internal technology systems is needed to increase accessibility (Khan et al. 2012). Fourthly, when the accessible technology is available in addition to new technology it can be forwarded to Centrix Systems. This step also includes increasing awareness within employees about the opportunity of affordable technologies, and the employees must be trained to use accessible features (Tsugawa et al. 2012). Lastly, the available technology that has been implemented on Citrix Systems is required to be maintained, and success is evaluated including opportunities for improvement. Be able to design virtualization deployments. Needs analysis for a virtualization deployment in an organization Citrix Systems provides application and desktop virtualization, enabling to have a complete, flexible result that supplies Windows applications and desktops to all users on available devices while securing necessary information in the data center (Khan et al. 2012). Using virtualization in Citrix reduces VMM complexities, it enhances reliability, protection and certainty, improves the functional operations, and improves the performances (Kerravala et al. 2013). Streamlined implementation and lifecycle management reduce desktop and application management costs. Implementing virtualization process leads to delivery of apps and desktops on demand, without working for hours to prepare traditional hardware and thereby build focus on business initiatives (Drutskoy et al. 2013). Design of a virtualization solution for a given virtualization implementation in an organization Virtualization is a hardware / software solution that enables multiple operating systems to work on a single hardware system. In an organization like Citrix, the following designing methodologies can be implemented to get best IT solutions: Storage virtualization can be used in Citrix Solutions that can ensure the best performance involved with storage I/O real and virtual servers (Uddin et al. 2012). Network access virtualization facilitates production of any application containing high network activity, which will be influenced without committed NICs or a robust network virtualization solution (Sun et al. 2015). Memory and CPU virtualization is required in Citrix not over to commit virtual storage in a single operating system (Dong et al. 2012). To neglect the critical situations created by harmoniously active virtual machines may not outreach the actual memory (Hodge et al. 2012). Be able to implement virtualization deployments Steps taken to maintain virtualization solution Citrix System applies IT virtualization rostrum, and different steps are need to be followed to get a proper performance of the virtualization techniques. The steps that need to be taken by Citrix System to maintain virtualization solutions are: Step 1: Choosing of a proper virtualization solution Before implementing virtualization solution in Citrix, the appropriate virtualization solution is needed to be adopted. In general, two methods are available which can organize centralized thin-client background for customers including virtual desktop infrastructure (VDI) and remote access terminal services. Citrix system has an option to use XenApp as remote access terminal services (Jain et al. 2013). Step 2: Assessment of the network before implementation of virtualization In this step, the Citrix System need to investigate the network and must check whether satisfactory bandwidth is available or not. Moreover, enough bandwidth is required to be maintained to guide the peak load of all virtual desktop users (Lim et al. 2015). Step 3: Development of a desktop virtualization server scheme In this step, Citrix System needs to use server supervising tools to accumulate and dispatch data about the systems resource implementation (Xavier et al. 2013). If there is a failure in the server, then all the virtual desktops will breakdown and to avoid such circumstances the virtual desktops need to spread across multiple servers (Yemini et al. 2013). Step 4: Up gradation of storage to support desktop virtualization In this step, desktop virtualization settles every PC's data on servers. Hence, the data center SAN requires enough additional storage to host all the virtual desktops (Bennett et al. 2012). Citrix need to estimate their customers repository requirements and combine this extra storage with current SAN environments before implementing desktop virtualization (Peng et al. 2013). Step 5: Requirement of protocol interoperability and graphics acceleration hardware Citrix system may use Microsofts Remote Desktop Protocol (RDP) and the Independent Computing Architecture (ICA) to exchange the client-server data (Tzanakaki et al. 2013). The company must also be aware of whether their customers desktop endpoints are suited with the virtualization protocols or not (Kerravala et al. 2013). Latest rules are designed to implement graphics acceleration hardware and virtualization software named CAD is used which can still strive software-based protocols (Christensen et al. 2012). Step 6: Implementation of desktop virtualization in phases For maintaining desktop virtualization, Citrix system needs to prepare a mockup application in laboratory using apparatus that is relevant to their customers and also refreshing workloads to construct for real deployments (Yang et al. 2013). Step 7: Aggressiveness with endpoint security Citrix System needs to perform due assiduity when implementing desktop virtualization to firm each endpoint attacking. Effective endpoint security allows virtualization less acceptable that customers will alter their local operating systems or create other changes to the endpoint (Tsugawa et al. 2012). Systematic testing of virtual environment and its usefulness in Citrix System Virtualization is IT field provides many desktop virtualization solutions. Several virtualization techniques are available in Citrix, which includes server, desktop virtualization application, networking, cloud computing techniques and software as a service (Rost et al. 2015). The applications provided by Citrix solution includes: Request for mobilizing apps and desktops- XenApp- It is a virtualization solution, which allows accessing to Windows applications and desktops independent of the machine (Hodge et al. 2012). XenDesktop- It is a virtualization solution which conveys Windows apps and desktops as a source of safe mobile services (Demestichas et al. 2013). With the help of XenDesktop, IT mobilizes the business, and the centralizing control minimizes the costs for intelligent belongings (Christensen et al. 2012). Application for managing enterprise mobility XenMobile- It is a virtualization solution, which conveys mobile device management (MDM), enterprise-grade productivity apps and mobile application management (MAM) (Khan et al. 2012). Application for optimizing and securing networks NetScaler- It is a web application distribution controller that creates applications run five times greater. CloudBridge- It is a common platform that enhances and associates applications, optimizes bandwidth usage beyond third party applications (Sun et al. 2015). Application for building cloud infrastructure XenServer- It is an open source virtualization environment that allows in managing server, cloud and desktop practical framework (Tzanakaki et al. 2013). Documentation and Analysis of the test results Citrix System is required to plan in an organized manner to obtain experimental findings in the virtualization solution as provided by them. IT needs to focus on data management, accessing of applications and data, managing of enterprise mobility, mobilizing of desktops and applications, optimization and security of networks, and need to build cloud infrastructure (Dong et al. 2012). The different techniques of virtualization solution enable the customers of Citrix to obtain a useful output. For accessing data Citrix receiver is used which allows access to applications, desktops and data quickly (Khan et al. 2012). For managing the enterprise mobility XenMobile, Worx Mobile Apps, and GoToAssist is used which helps in maintaining and securing apps, devices, and data (Kerravala et al. 2013).To mobilize apps and desktops XenApp, XenDesktop and XenClient are used. For optimizing and securing networks NetScaler and CloudBridge are used which allows the data center network to amend the del ivery of all web applications and CloudBridge advances user involvement and productivity by enabling rapid, safe remote access. To build the cloud infrastructure, Citrix is using CloudPlatform, CloudPortal Business Manager, and XenServer as their virtualization solutions (Khan et al. 2012). Be able to manage virtualization environments Monitoring the virtualization environment in Citrix Citrix provides the flexibility that carry out some complexity in the administration of virtualized infrastructure. It provides its single share of complications though virtualization is advantageous to IT operations (Hodge et al. 2012). Citrix is a cloud computing company that allows mobile workstyles. Its offers virtualization solutions for different requirements including: Citrix Receiver to access the data and applications. XenMobile, Worx Mobile Apps, and GoToAssist to manage the enterprise mobility. XenApp, XenDesktop and XenClient to mobilize the applications and desktops. NetScaler and CloudBridge used to optimize and to secure the networks. CloudPlatform, CloudPortal Business Manager and XenServer used to build the cloud infrastructure (Jain et al. 2013). Measures taken by Citrix to maintain a virtualization environment Scalability: Citrix system deals with the capability of the network it is applying for various applications. It supports the regular workloads. There are different hardware and software used as resources. Allocation of an additional capacity virtual machine is also used (Lim et al. 2015). Consolidation: To maintain the physical environment based on IT infrastructure, Citrix system need appropriate hardware, software, supply, storage device, RAM, etc. Every day the company is developing different products related to an application (Peng et al. 2013). Agility: The unparallel level of flaccidity and acuteness to the data center happens in virtualization. Citrix uses discrete components of software, which can develop various servers. Distribution of the hardware and software resources is done to get a fixed performance (Yemini et al. 2013). Reliability: When Citrix system uses costly hardware and software then failure may occur, error by human or potential failure. Whenever it is required the organization migrates a software object to physical hardware (Bennett et al. 2012). Critical review and analysis of overall impact of virtualization and impact on a business due to virtualization: In any business, the use of virtualization is much more essential. The business organizations are implementing virtualization for getting the following benefits: Lessen the operating expenses. Provide better reply by IT to appeal for new services. Increase SLAs on IT services (Xavier et al. 2013). Replenish business continuity. Improve the service given to the customers. If any business organization does not implement virtualization then the following consequences may occur: The cost of the application equipment will be increasing gradually. Minimize the business value of data centers. Lack efficiency in the work structure. Reduce the functionality and performance. 5.0 Conclusion: Virtualization solution is the most important aspect in IT sectors. Citrix system is an American software organization using virtualization or a potential combination of hardware and software to implement Windows application, desktop virtualization, and networking, cloud computing. It operates an integrated software service that tests the virtualization environment and identifies the critical factors and its solution. For high productivity in IT companies, virtualization solutions play the crucial role. References Bennett, S.M., Anderson, A.V., Neiger, G., Rodgers, D., Huntley, B.E. and Smith, L.O., Intel Corporation, 2012.Injecting virtualization events in a layered virtualization architecture. U.S. Patent 8,151,264. Christensen, C. and Wessel, M., 2012. Surviving disruption.Harvard Business Review,90(12), pp.56-65. Demestichas, P., Georgakopoulos, A., Karvounas, D., Tsagkaris, K., Stavroulaki, V., Lu, J., Xiong, C. and Yao, J., 2013. 5G on the horizon: key challenges for the radio-access network.Vehicular Technology Magazine, IEEE,8(3), pp.47-53. Dong, Y., Yang, X., Li, J., Liao, G., Tian, K. and Guan, H., 2012. High performance network virtualization with SR-IOV.Journal of Parallel and Distributed Computing,72(11), pp.1471-1480. Drutskoy, D., Keller, E. and Rexford, J., 2013. Scalable network virtualization in software-defined networks.Internet Computing, IEEE,17(2), pp.20-27. Hodge, P., 2012. Virtualizing Your Process Control Computers.Chemical Engineering Progress,108(1), p.22. Jain, R. and Paul, S., 2013. Network virtualization and software defined networking for cloud computing: a survey.Communications Magazine, IEEE,51(11), pp.24-31. Kerravala, Z., 2013. The Software-Defined Data Center is Key to IT-as-a-Service.Cell,301, pp.775-7447. 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Monday, December 2, 2019
Unethical business practices and their effects
Introduction In the contemporary world, businesses that comply with the rightful ethical conducts are decreasing drastically. In most businesses, at least one business practice is done in an unethical manner. The unethical practices in businesses are adversely affecting governments through the loss of taxes (George Jones, 2010). Consequently, the world economy is facing a crisis as businesses evade from paying taxes.Advertising We will write a custom term paper sample on Unethical business practices and their effects specifically for you for only $16.05 $11/page Learn More With globalization, companies are trying their best to reap maximum profits and outweigh their competitorsââ¬â¢ profits at the expense of the global economy. Transparency and accountability is outdated as companies are aiming at one thing; to reap maximum profits at all cost. Cases have occurred where companies that had been involved in unethical practices clear their names in cour ts through bribery. The executives of such companies protect their brand names, and they fight to maintain the companyââ¬â¢s reputation through corruption. At the end of the day, the government, employees, investors, competitors, and the customers suffer while the crooks enjoy the fruits of their unethical business practices. This paper will give a stringent analysis of the various unethical business practices and the effect that they have on the organization. The paper will bring in ideas, information, and examples of unethical business practices in major organizations. Unethical business practices and their effects on the organization Manipulation and exploitation of employees Employees are very essential stakeholders in any company because they determine the level of productivity of the company. However, some managers take advantage of defenseless employees to exploit them in one way or another. The vulnerable employees have no choice but to be submissive. Some unethical pract ices that harm the employers include low wages and unsafe working environment. Some employers have made it a routine to have their private cloakrooms while the other employees use unsanitary cloakrooms. Essentially, any practices that make the employees uncomfortable in the work place are unethical, as they do not comply with the federal working standards. We take an example of G4S Company, which is one of the largest private companies in the world. The company has a motto of delivering excellent services and maintaining the highest level of ethical standards. However, in the recent past, reports indicated that G4S did not adhere to its motto, and its ability to control its worldwide operations failed considerably.Advertising Looking for term paper on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More The executives of the company have turned up to be violent towards their junior employees. The executives confront the employ ees; they pay then low wages, and increase pressures in the work environment (Hill Plimmer, 2013). Unethical business practices are likely to have adverse consequences to the organization. G4S is at the risk of destroying its reputation; therefore, the future of the company is at risk. The G4S Company has existed for decades and it has expanded globally, however, the company can collapse within a short period if its reputation is disputed. Currently, G4Sââ¬â¢s has slipped in its ability to manage its global empire. It was so embarrassing that G4S was unable to supply enough security guards in a contract that would earn it massive profits during the 2012 Olympics. It is noteworthy that G4S operates in third world nations that have rampant corruption and fraud cases. There is a very high possibility of the G4S executives in such nations to be drawn into unethical practices that may further portray the companyââ¬â¢s incompetency. Essentially, there are numerous fraud cases in th e management of the company, and those practices are driving G4S into the grave. Unfair competitive practices All business people aim at gaining a competitive advantage over their competitors to win the trust of many customers. Companies would spend millions of dollars to employ strategies that would enable them to enhance their sales. However, there are those business people who opt to employ unfair and unethical business practices that result into unfair competitive practices. Wal-Mart was a victim of unfair business practices in the recent past. The multinational company invested heavily to investigate and determine the extent to which its competitors adhere to the anti-bribery law. Wal-Mart did the investigation in Mexico, Brazil, China, and India, which are its major international markets. In its investigations, Wal-Mart discovered that its competitors were indeed violating the corruption act that guides foreign investors. One of the Mexican subsidiaries that happen to be Wal-M artââ¬â¢s major competitors had indeed paid bribes to be allowed to open new stores in Mexico (Clifford Barstow, 2012).Advertising We will write a custom term paper sample on Unethical business practices and their effects specifically for you for only $16.05 $11/page Learn More To make the matters worse, the subsidiaryââ¬â¢s parent company suppressed the investigations through bribery. With regard to the mentioned allegations, there is a high possibility that the competitor company evades many other compliance payments to the government though bribery. The unfair competitive practices would only earn a company massive profits in the short run. However, upon investigation and publicity of the matters, the company will have its reputation destroyed. Unethical business practices as those practiced with Wal-Martââ¬â¢s competitors will result into bad publicity, and the company may never win the publicity trust in the future even though it struggle s to employ ethical conducts. Moreover, if the courts decide to be very strict with such companies, they may be fined heavily. The executive may receive merciless jail terms and finally, the company may end up becoming bankrupt because of the high costs associated with unethical business practices. Bending the company rules In many companies, employees are obliged to submit to their supervisors and managers. They have to obey the authority and perform all their commands. In fact, junior employees have a tendency of alleging to their supervisors in every aspect. Therefore, regardless of how wrong an instruction is, the junior employees are sometimes obliged to abide by the rules of their supervisors and managers. It is noteworthy that performing unethical practices in the work environment is wrong regardless of where the orders came from. Some junior employees are obliged to withhold information regarding the unethical practices of their bosses for the fear of intimidation, which tha t is also unethical. In July 2 2010, the New York Times revealed the case of GlaxoSmithKline Company. The companyââ¬â¢s director agreed to pay fines amounting to $3 billion because of promoting a drug for unapproved uses, and improper marketing for other drugs (Thomas Schmidt, 2012). Further investigations indicated that the company lured the doctors by enticing them with luxury trips and spa treatments. The company would meet the full payments of hunting excursions and all sorts of luxuries to win the doctors, and force them to promote some unapproved drugs. Moreover, GlaxoSmithKline financed the publishing of a medical journal that had manipulated clinical trial data to promote the use of the Paxil drug in children.Advertising Looking for term paper on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More The highly sensitive information was very essential for the prosecutors to file charges against the GlaxoSmithKline Company, and it was very controversial to find out who disclosed those unethical practices. Sure enough, the whistle blowers were some of the employees of the company. Companies have to be warned that there is a whistle blower policy that rewards employees with substantial rewards. Essentially, whistle blowers earn a great share of the amount that the federal government recovers from the unethical business practices that they report. In fact, a policy guiding taxpayers against fraud has set aside about $10 billion to compensate the whistle blowers. Therefore, managers and supervisors should be warned that employees would be submitting to their unethical orders to set them up. Lack of transparency Companies are always obliged to portray transparency in all their activities. However, cases have occurred where company executives hide some controversial information from th e most important stakeholders of the company. Some companies will present false statements to the investors to clarify why they cannot afford to pay the dividends. Whenever the investors resolve to have the company investigated, the company managers and other executives resist the investigations. The executives of some companies have taken advantage of humble investors to mishandle their propriety. Some executives are even sued for creating false financial statements to deceive the investors. Moreover, company executives evade form paying the taxes using the false statements. Cases have occurred where auditors are bribed to certify false financial statements so that powerful companies can evade from paying the rightful amounts of taxes to the government. Company executives ought to know that legal lawsuits have adverse consequences to the company. Firstly, the court can impose heavy fines to the company, which can declare it bankrupt. The court can order the suspension of the compan yââ¬â¢s activities for a considerably long period. In the case of molesting the investors, the company places itself at a high risk of lacking investors in the future. Of course, new investors would never buy the shares for such companies, and the companyââ¬â¢s activities may come to a spontaneous halt because of the lack of funds. Unethical treatments to suppliers and customers Every business must have suppliers of raw materials and customers who purchase their finished products. Essentially, the relationship between the company, its suppliers, and its customers ought to have mutual benefits. However, some businesses are too greedy to allow the other parties to enjoy some good profits. Some companies pay their suppliers so low, such that the suppliers lack the value of the efforts that they input in their work. As if that is not enough, some companies go ahead to produce low quality or unsafe products. In case the company faces strict regulations in the country of production, the unsafe products are shipped into third world nations. This very sad incidence affects innocent individuals who purchase such products unknowingly. Some companies are used to offering the intermediaries with kickbacks so that they can continue purchasing their products. Companies that practice unethical business conducts that harm the suppliers and the consumers should know that their practices might have adverse consequences than anticipated. Once the suppliers find other places where they can sell their products at fair prices, they would stop supplying raw materials for such companies with immediate effect. Unethical business practices that involves the offering of kickbacks to win customers could have costly legal repercussions. Finally, the consumers have all the rights to file lawsuits in case they consume unsafe products. Such cases may have adverse consequences to the business, which may end up paying heavy fines, or even being ordered to close down because of their unet hical practices. The destroyed reputation of such companies may cause their sales to reduce drastically, and the company may end up being bankrupt. Deceptive sales practices Companiesââ¬â¢ sales managers are obligated to try all possible ways of making massive sales. However, that does not mean that the companies should involve themselves in deceptive sales practices. In the GlaxoSmithKline case, the company promoted its unapproved antidepressants for human consumption (Thomas Schmidt, 2012). The unethical business practice clearly indicated that the executives of the company were extremely selfish. No amount of fine can compensate for the unethical practice of selling unapproved drugs to humans. Further, the company distorted the data of a diabetic drug that recorded very high sales, and it marketed other drugs improperly. Genuinely, drugs are meant to enhance human life, and the named unethical practices concerning drugs are so inhumane. Even after paying the fine amounting to $3 billion, GlaxoSmithKline does not tremble because their sales exceeded that amount by far. While GlaxoSmithKline may not feel the pain of paying such a huge fine, the company executives should know that its publicity reputation was destroyed. The company may never gain the huge profits that it made in the past. Regardless of how effective their drugs would be, informed customers will tend to shy away from purchasing their drugs. Once consumers know that a company employs unethical business practice in their operations, the effects are inerasable. A company like GlaxoSmithKline that has had some good reputation for many years can have its brand name torn down because of a single unethical incident. Therefore, companies that are practicing deceptive and unethical sales practices should know that their practices would tore the company down in a matter of seconds. Harming the environment All companies ought to adhere to the pollution norms set by the government. Moreover, the compan ies should adhere to the corporate social responsibility policy that obliges companies to honor the surrounding environment and the people in it. However, cases have occurred where companies are involved in unethical behaviors that harm the environment. Some companies release chemical pollutants into the air or into water bodies. Such companies do not care about the repercussions of their ill deeds. The companies release toxics that harm the lives of the living things around their locality. They evade the expenses that are associated with the treatment of toxics before they are released into the environment. This sad incidence clearly indicates that the greedy executives of such companies care less about those individuals and other living things that are affected in one way or another. One thing that companies harming the environment without caring ought to know is that some individuals who lived in the past cared about the people in the current generation. They should make it their obligation to think about their descendants who will need a safe environment. Moreover, the affected individuals would be junior employees of the company who may suffer from lifestyle diseases. Of course, the company will have to cater for their Medicare bills, and pay fines if employees decide to sue the company. It is noteworthy that the worst repercussion of unethical behaviors regarding the destruction of the environment is the lowered organizational credibility. The companyââ¬â¢s partners, customers, and all other stakeholders will feel intimidated to be associated with a company that does not value the environment. Further, the courts can even order the company to be closed down. Conclusion Indeed, unethical business practices harm a series of people, whereas; only a few greedy incumbents enjoy the fruits of their ill deeds. Essentially, if the global economy is to be on the safe side, companies must adopt ethical business practices. Business executives must ensure that th eir businesses spend their investorsââ¬â¢ monies in worthwhile projects. They should ensure that the investors obtain their dividends in time. As discussed, some vulnerable employees suffer in silence, and it is upon the business managers to ensure that they treat all their employees equally. The managers have a responsibility of offering a favorable working environment for all their employees. They have to ensure that the employeesââ¬â¢ salaries are disbursed at the right time. In the case of customers, the involved stakeholders of the company must ensure that the customers obtain quality products and services. Business managers should never take advantage of their might to disadvantage their competitors. Moreover, company managers should understand that the government depends on taxes to develop the nations. Therefore, company executives are obliged to ensure that the company pays taxes exclusively. Finally, companies are requested to have a corporate social responsibility. Polluting the environment should be outdated, as companies ought to employ practices that are environmental friendly. Companies should comply with the governmentââ¬â¢s rules of conserving the air, water, and the general environment. Certainly, if all companies adopt the above named ethical practices, every individual in the world would be very comfortable, whereas, companies will be making honorable profits. References Clifford, S. Barstow, D. (2012). Wal-Mart inquiry reflects alarm on corruption. The New York Times. Web. George, J.M. Jones, G.R. (2010). Understanding and managing organizational behavior (6th ed.). Upper Saddle River, NJ: Prentice Hall. Hill, A. Plimmer, G. (2013). G4S: The inside story. Financial Times. Web. Thomas, K. Schmidt M.S. (2012). Glaxo agrees to pay $3 billion in fraud settlement. The New York Times. Web. This term paper on Unethical business practices and their effects was written and submitted by user Camryn Campos to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.
Wednesday, November 27, 2019
The best custom papers provider Essays
The best custom papers provider Essays The best custom papers provider Essay The best custom papers provider Essay Many students are aware of the fact that there are many custom papers providers on the internet. However, not every student knows which provider has a good reputation and which one is a scam. If you are reading this article, I want to assure you that have come to the right place. There are lots of benefits to be reaped if you buy custom papers from us. As a matter of fact, the benefits are inexhaustible and you will only be aware of them if you decide to befriend us. Nevertheless, let me highlight a few reasons why you should choose us. All custom papers that you buy from us are written by a team of resourceful writers. These writers have no less than two years experience and they go through a rigorous recruitment procedure. You can be sure that no writers join our team unless they have the necessary qualifications. As far as their credential are concerned, Im proud to note that the least qualified writers hold masters degrees. With this kind of writers we are sure you would not like to shop elsewhere for cheap custom papers. The other reason why you should enlist our services for custom papers has to do with discipline and responsibility. We regard the ability to beat even the tightest deadlines as discipline. May be you have ever found yourself in a situation where you have an urgent paper which you feel that you cannot complete by yourself. If you ever find yourself in such a situation, worry not because our writers will be there to salvage your situation. Before wrapping up, I would like to assure all our potential and current customers that their custom papers will always be written from scratch. Under no instances will we resell old custom papers. Additionally, when customers buy custom papers from us, these papers are checked for plagiarism and if necessary, plagiarism reports are sent together with completed orders.
Saturday, November 23, 2019
1996 Mount Everest Disaster - Death on Top of the World
1996 Mount Everest Disaster - Death on Top of the World On May 10, 1996, a ferocious storm descended upon the Himalayas, creating perilous conditions on Mount Everest, and stranding 17 climbers high upon the tallest mountain in the world. By the following day, the storm had claimed the lives of eight climbers, making it- at the time- the greatest loss of life in a single day in the history of the mountain. While climbing Mount Everest is inherently risky, several factors (aside from the storm) contributed to the tragic outcome- crowded conditions, inexperienced climbers, numerous delays, and a series of bad decisions. Big Business on Mount Everest Following the first summit of Mount Everest by Sir Edmund Hillary and Tenzing Norgay in 1953, the feat of climbing the 29,028-foot peak had for decades been limited to only the most elite climbers. By 1996, however, climbing Mount Everest had evolved into a multi-million dollar industry. Several mountaineering companies had established themselves as the means by which even amateur climbers could summit Everest. Fees for a guided climb ranged from $30,000 to $65,000 per customer. The window of opportunity for climbing in the Himalayas is a narrow one. For just a few weeks- between late April and late May- the weather is typically milder than usual, allowing climbers to ascend. In the spring of 1996, multiple teams were gearing up for the climb. The vast majority of them approached from the Nepalese side of the mountain; only two expeditions ascended from the Tibetan side. Gradual Ascent There are many dangers involved in ascending Everest too rapidly. For that reason, expeditions take weeks to ascend, allowing climbers to gradually acclimatize to the changing atmosphere. Medical problems that could develop at high altitudes include severe altitude sickness, frostbite, and hypothermia. Other serious effects include hypoxia (low oxygen, leading to poor coordination and impaired judgment), HAPE (high-altitude pulmonary edema, or fluid in the lungs) and HACE (high-altitude cerebral edema, or swelling of the brain). The latter two can prove especially deadly. In late March 1996, groups assembled in Kathmandu, Nepal, and opted to take a transport helicopter to Lukla, a village located about 38 miles from Base Camp. Trekkers then made a 10-day hike to Base Camp (17,585 feet), where they would stay a few weeks adjusting to the altitude. Two of the largest guided groups that year were Adventure Consultants (led by New Zealander Rob Hall and fellow guides Mike Groom and Andy Harris) and Mountain Madness (led by American Scott Fischer, assisted by guides Anatoli Boukreev and Neal Beidleman). Halls group included seven climbing Sherpas and eight clients. Fischers group comprised eight climbing Sherpas and seven clients. (The Sherpa, natives of eastern Nepal, are accustomed to the high altitude; many make their living as support staff for climbing expeditions.) Another American group, helmed by filmmaker and renowned climber David Breashears, was on Everest to make an IMAX film. Several other groups came from around the globe, including Taiwan, South Africa, Sweden, Norway, and Montenegro. Two other groups (from India and Japan) climbed from the Tibetan side of the mountain. Up to the Death Zone Climbers began the acclimatization process in mid-April, taking increasingly longer sorties to higher elevations, then returning to Base Camp. Eventually, over a period of four weeks, the climbers made their way up the mountain- first, past the Khumbu Icefall to Camp 1 at 19,500 feet, then up the Western Cwm to Camp 2 at 21,300 feet. (Cwm, pronounced coom, is the Welsh word for valley.) Camp 3, at 24,000 feet, was adjacent to the Lhotse Face, a sheer wall of glacial ice. On May 9, the scheduled day for the ascent to Camp 4 (the highest camp, at 26,000 feet), the expeditions first victim met his fate. Chen Yu-Nan, a member of the Taiwanese team, committed a fatal error when he exited his tent in the morning without having strapped on his crampons (spikes attached to boots for climbing on ice). He slipped down the Lhotse Face into a crevasse. Sherpas were able to pull him up by rope, but he died of internal injuries later that day. The trek up the mountain continued. Climbing upward to Camp 4, all but only a handful of elite climbers required the use of oxygen to survive. The area from Camp 4 up to the summit is known as the Death Zone because of the dangerous effects of the extremely high altitude. Atmospheric oxygen levels are only one-third of those at sea level. Trek to the Summit Begins Climbers from various expeditions arrived at Camp 4 throughout the day. Later that afternoon, a serious storm blew in. Leaders of the groups feared that they would not be able to climb that night as planned. After hours of gale-force winds, the weather cleared at 7:30 p.m. The climb would go on as planned. Wearing headlamps and breathing bottled oxygen, 33 climbers- including Adventure Consultants and Mountain Madness team members, along with a small Taiwanese team- left at about midnight that night. Each client carried two spare bottles of oxygen, but would run out at about 5Ã p.m., and would, therefore, need to descend as quickly as possible once they had summitted. Speed was of the essence. But that speed would be hampered by several unfortunate missteps. Leaders of the two main expeditions had supposedly ordered Sherpas to go ahead of the climbers and install lines of rope along the most difficult areas in the upper mountain in order to avoid a slowdown during the ascent. For some reason, this crucial task was never carried out. Summit Slowdowns The first bottleneck occurred at 28,000 feet, where setting up the ropes took nearly an hour. Adding to the delays, many climbers were very slow due to inexperience. By late morning, some climbers waiting in the queue began to worry about getting to the summit in time to descend safely before nightfall- and before their oxygen ran out. A second bottleneck occurred on the South Summit, at 28,710 feet. This delayed forward progress by another hour. Expedition leaders had set a 2Ã p.m. turn-around time- the point at which climbers must turn around even if they had not reached the summit. At 11:30 a.m., three men on Rob Halls team turned around and headed back down the mountain, realizing they might not make it in time. They were among the few who made the right decision that day. The first group of climbers made it up the famously difficult Hillary Step to reach the summit at about 1:00 p.m. After a brief celebration, it was time to turn around and complete the second half of their laborious trek. They still needed to get back down to the relative safety of Camp 4. As the minutes ticked by, oxygen supplies began to dwindle. Deadly Decisions Up at the top of the mountain, some climbers had been summiting well after 2:00 p.m. Mountain Madness leader Scott Fischer did not enforce the turn-around time, allowing his clients to stay on the summit past 3:00. Fischer himself was summiting just as his clients were coming down. Despite the late hour, he continued up. No one questioned him because he was the leader and an experienced Everest climber. Later, people would comment that Fischer had looked very ill. Fischers assistant guide, Anatoli Boukreev, had inexplicably summited early on, and then descended to Camp 4 by himself, instead of waiting to assist clients. Rob Hall also ignored the turn-around time, staying behind with client Doug Hansen, who was having trouble moving up the mountain. Hansen had tried to summit the previous year and failed, which is probably why Hall made such an effort to help him up despite the late hour. Hall and Hansen did not summit until 4:00 p.m., however, far too late to have stayed on the mountain. It was a serious lapse in judgment on Halls part- one which would cost both men their lives. By 3:30 p.m. ominous clouds had appeared and snow began to fall, covering up tracks that descending climbers needed as a guide to find their way down. By 6:00 p.m., the storm had become a blizzard with gale-force winds, while many climbers were still trying to make their way down the mountain. Caught in the Storm As the storm raged on, 17 people were caught on the mountain, a perilous position to be in after dark, but especially so during a storm with high winds, zero visibility, and a wind chill of 70 below zero. Climbers were also running out of oxygen. A group accompanied by guides Beidleman and Groom headed down the mountain, including climbers Yasuko Namba, Sandy Pittman, Charlotte Fox, Lene Gammelgaard, Martin Adams, and Klev Schoening. They encountered Rob Halls client Beck Weathers on their way down. Weathers was stranded at 27,000 feet after being stricken by temporary blindness, which had prevented him from summitting. He joined the group. After a very slow and difficult descent, the group came within 200 vertical feet of Camp 4, but the driving wind and snow made it impossible to see where they were going. They huddled together to wait out the storm. At midnight, the sky cleared briefly, allowing guides to catch sight of the camp. The group headed off toward camp, but four were too incapacitated to move- Weathers, Namba, Pittman, and Fox. The others made it back and sent help for the four stranded climbers. Mountain Madness guide Anatoli Boukreev was able to help Fox and Pittman back to camp, but could not manage the nearly comatose Weathers and Namba, especially in the middle of a storm. They were deemed beyond help and were therefore left behind. Death on the Mountain Still stranded high on the mountain were Rob Hall and Doug Hansen at the top of the Hillary Step near the summit. Hansen was unable to go on; Hall tried to bring him down. During their unsuccessful attempt to descend, Hall looked away for just a moment and when he looked back, Hansen was gone. (Hansen had likely fallen over the edge.) Hall maintained radio contact with Base Camp through the night and even spoke with his pregnant wife, who was patched through from New Zealand by satellite phone. Guide Andy Harris, who was caught in the storm at the South Summit, had a radio and was able to hear Halls transmissions. Harris is believed to have gone up to bring oxygen to Rob Hall. But Harris also disappeared; his body was never found. Expedition leader Scott Fischer and climber Makalu Gau (leader of the Taiwanese team that included the late Chen Yu-Nan) were found together at 1200 feet above Camp 4 on the morning of May 11. Fisher was unresponsive and barely breathing. Certain that Fischer was beyond hope, the Sherpas left him there. Boukreev, Fischers lead guide, climbed up to Fischer shortly thereafter but found he had already died. Gau, although severely frostbitten, was able to walk- with much assistance- and was guided down by Sherpas. Would-be rescuers had attempted to reach Hall on May 11 but were turned back by severe weather. Twelve days later, Rob Halls body would be found at the South Summit by Breashears and the IMAX team. Survivor Beck Weathers Beck Weathers, left for dead, somehow survived the night. (His companion, Namba, did not.) After being unconscious for hours, Weathers miraculously awoke late on the afternoon of May 11 and staggered back to the camp. His shocked fellow climbers warmed him up and gave him fluids, but he had suffered severe frostbite on his hands, feet, and face, and appeared to be near death. (In fact, his wife had been notified earlier that he had died during the night.) The next morning, Weathers companions almost left him for dead again when they departed camp, thinking he had died during the night. He awoke just in time and called out for help. Weathers was assisted by the IMAX group down to Camp 2, where he and Gau were flown out in a very daring and dangerous helicopter rescue at 19,860 feet. Shockingly, both men survived, but frostbite took its toll. Gau lost his fingers, nose, and both feet; Weathers lost his nose, all of the fingers on his left hand and his right arm below the elbow. Everest Death Toll The leaders of the two main expeditions- Rob Hall and Scott Fischer- both died on the mountain. Halls guide Andy Harris and two of their clients, Doug Hansen and Yasuko Namba, also perished. On the Tibetan side of the mountain, three Indian climbers- Tsewang Smanla, Tsewang Paljor, and Dorje Morup- had died during the storm, bringing the total of deaths that day to eight, the record number of deaths in one day. Unfortunately, since then, that record has been broken. An avalanche on April 18, 2014, took the lives of 16 Sherpas. A year later, an earthquake in Nepal on April 25, 2015, caused an avalanche that killed 22 people at Base Camp. To date, more than 250 people have lost their lives on Mount Everest. Most of the bodies remain on the mountain. Several books and films have come out of the Everest disaster, including bestseller Into Thin Air by Jon Krakauer (a journalist and a member of Halls expedition) and two documentaries made by David Breashears. A feature film, Everest, was also released in 2015.
Thursday, November 21, 2019
Domestic violence as it relates to pregnacy (Option 2) Research Paper
Domestic violence as it relates to pregnacy (Option 2) - Research Paper Example Additionally, the roles through which I would be addressing this issue are also mentioned. Domestic Violence as it relates to Pregnancy Introduction Women have been experiencing domestic violence since the start of this world and its intensity has been noticed to increase especially during pregnancy. This leads to pre and post pregnancy complications which require immediate corrective actions under the supervision of an experienced nurse (Shah PS, 2010). As a professional nurse I once encountered a patient who was suffering from intense domestic violence for more than a year. Throughout the pregnancy period her husband practiced battering over her which ultimately led to poor health of both the baby and the mother. She had severe complications during her delivery which also resulted in improper development of her child. The child was significantly underweight and was highly sensitive to common diseases. The overall situation got even worst when the patient could not get the assistanc e of a satisfactory nurse. This example raises questions that what should be the role of nurses when they are particularly dealing with such patients? How domestic violence is related to pregnancy and what nursing care considerations are required? What are the possible impacts of battering over the patient, new born baby and the overall family setup? Finally, how I would be addressing all these issues in my future nursing career? An overview of domestic violence as it relates to pregnancy Domestic violence during pregnancy is also termed as the Intimate Partner Violence (IPV) which commonly occurs during pregnancy and ultimately ends in severe outcomes including high stress level during pregnancy, usage of drugs which further worsen the condition of mother and child, preterm delivery, significantly low weight child, susceptibility to infectious diseases and lower level of child care soon after delivery. This indicates that domestic violence is highly hazardous for pregnant women and its poor outcomes even intensify if violence continues after the child birth. Children who are raised in sadistic homes are naturally aggressive and practice the some behavior with their future partners as they have observed in their childhood. Domestic violence simply adds significant value to the overall treatment and care cost of pregnant women. The role of nurses is very crucial in this regard as they provide first hand care to such women and also look after their child in adverse conditions. It is the initial responsibility of nurses to identify such cases existing in the society and then provide them suitable guidance so as to end violence in their lives (LR, 2008). Nursing care considerations related to domestic violence assessment The question about domestic violence usually occurs when a patient shows substantial symptoms of battering, inadequate prenatal care, higher occurrence of high-risk behaviors, direct physical trauma, increased stress and postulated mechanisms (Sha h PS, 2010). Majority of women entering first time into the medical assistance clinics during their pregnancy period which is also their encounter to a medical professional require special attention and care from the health care service provider. Therefore, professionals who are in direct contact with pregnant women maintain a distinctive position in the society as they closely witness the marital
Tuesday, November 19, 2019
Financial Statements Paper Part II Research Example | Topics and Well Written Essays - 1000 words
Financial Statements Part II - Research Paper Example The Home Depot is the worldââ¬â¢s largest home improvement store in terms of sales. In fiscal year 2008 which ended in February 1, 2009 the company generated $71,288 million dollars (Annual Report, 2008). The most important report that is released by public corporations regarding the operating and financial status of the company during a period of time is the annual report. In the annual report the managerial staff of the company provides an overview of the financial condition of a company. This paper analyzes the managerial assessment of the financial condition of the company. In order to determine whether the managers are being truthful about the situation ratio analysis will be used. In the 2008 annual report the managers admit that 2008 was a down year, but they claim that the firm made improvements to its operation and that considering the recession the firm is happy with the results. The managers are telling the truth in regards to the negative effects that a recession has o n the retail industry. In the annual report it claims that the company reduced its revenues by 7.8% and that operating earnings per share was reduced by 22%. The managers are insinuating that the profitability of the company was weak. In accounting there is a principle called the conservatism principle. This principle states that when in doubt; choose the method that will be least likely to overstate assets and income (Weygandt & Kieso & Kimmel, 2002). Three ratios that provide information regarding the profitability of the company are the gross, operating, and net margin. The metric results for Home Depot for these three financial ratios respectively in fiscal year 2008 were 34%, 6%, and 3% respectively. Financial analysis evaluate whether a financial metric is good or not is by comparing it to the industry ratio. The gross margin, operating margin, and net margin industry standards are 26.85%, 5.11%, and 3.18%. The company outperformed the industry in two of the three profitabilit y ratios and in the one that it was below the industry it was only by 0.18%. In the annual report the company claimed that the firmââ¬â¢s generated over $5.5 billion in cash which help the firm reduce its debt obligations. A financial ratio that can help a person determine the validity of the managerââ¬â¢s statement is the current ratio. The current ratio is a financial metric that test the ability of a company to pay off its short term debt (Garrison & Noreen, 2003). The current ratio of Home Depot in fiscal year 2008 was 1.20. A current ratio is normally regarded as good if it is above 1.0. The current ratio of Home Depot at 1.20 is also above the industry norm of 1.15. Another statement the manager claim in the annual report is that the firm had accumulated a very solid $41 billion in assets. Having a lot of assets is good, but it is more important to generate income off those assets. A financial metric that test how efficient a company is at utilizing its assets to generat e income is the return on assets (ROA) metric. The return on assets of the company in 2008 was 5%. The figure is good when you compare to the industry standard of 3.9%, but the firmââ¬â¢s ROA was reduced by 100% in comparison with the previous fiscal year. There were other operational decisions of significance mentioned in the 2008 annual report such as the fact the company closed down 15 stores, it
Sunday, November 17, 2019
Hope by Emily Dickinson Essay Example for Free
Hope by Emily Dickinson Essay Can you imagine life with out hope? I think Emily Dickinson may have used hope a lot in her life and thatââ¬â¢s why she wrote this wonderful poem, to inspire those without hope to give them a perspective from a beautiful bird that hope can change your life in any way you dream it. I choose to analyze the famous poem ââ¬Å"hopeâ⬠by Emily Dickinson, Such an interesting and mysterious poet she lived her entire life in Amherst, Massachusetts, only two of her poems where published in her life time, she died in 1886, she was never married and live most of her life as a recluse. In this poem Dickinson uses imagery and metaphors to describe, ââ¬Å"hope is the thing with feathers.â⬠Stanza One In the poem ââ¬Å"hopeâ⬠is the thing with feathers by Emily Dickinson, I love how Dickson compared the idea of hope as a bird or ââ¬Å"featherâ⬠I think the feather symbolizes freedom as in with hope you can fly away and be free, it examines the ideas of hope as a free spirit. She uses an imaginary metaphor to describe why hope is the thing with feathers. In the first line she uses a bird to create a clear image of a free spirit, a bird flying freely reaching what ever it wants, by using hope as a bird this metaphor is saying if you have hope you can fly to where ever it is you dream of. By giving hope feathers it gives the reader an idea or illusion of hope flying freely. By hope having feathers it is like a free home, flying to a new place. In the second line that says ââ¬Å"That perches in the soulâ⬠I believe she means the hope comes from the spirit, from very deep down in your heart. She is using another metaphor comparing a bird sitting on its perch, as our spirit is or where hope sits. In the third line where Dickinson speaks of singing a tune without words, that never stops at all, I see the song as being hope, that the bird is continuously singing its praise of hope even without knowing the words or the meaning of the song, giving us all hope that even if we donââ¬â¢t know the song or the words we too can sing a song of hope. Ending the first stanza with ââ¬Å"and never stops at allâ⬠showing that this song is never ending and available to all, it never stops. Stanza Two ââ¬Å"And sweetest in the gale is heardâ⬠tells of the birds song as the sweetest of all songs, ââ¬Å"And sore must be the stormâ⬠showing that when we need hope the most, through the worst of lifeââ¬â¢s storms, we can still hear that sweet song of hope. In line seven Dickinson shows that without hope we could be crushed by the storm, again showing a metaphor. I believe it means that without hope you would be without wings, no way to soar above your conflicts or hope of escaping, without hope its like you have a broken wing and cannot fly anywhere. The antagonist of the poem is the one who could abash the little bird, taking away all hope, representing problems of the world the negativity, stress, financial, relationship difficultyââ¬â¢s of everyday life, being the hammer bearing down on us, causing pain and discomfort. In line eight that says ââ¬Å"That kept so many warmâ⬠means that hope has brought people through a lot of things, through the cold and hurtful times. Hope is like a blanket in the winter you need it to stay warm without it you will freeze to death. Stanza Three By Dickinson saying ââ¬Å"Iââ¬â¢ve heard it in the chilliest landsâ⬠I see this as yet another reason to have hope and that hope is obtainable in even the ââ¬Å"chilliestâ⬠of lands, continuing with ââ¬Å"And on the strangest seaâ⬠that hope can reach any distance. As Dickinson ends her poem with ââ¬Å"Yet, never, in extremity, it asked a crumb of me.â⬠Dickinson shows us hope is free it doesnââ¬â¢t coast a thing, that it comes from within, not at a store or a mall, hope is what you make it, it dose not run away from you, its there when ever you need or want it, you donââ¬â¢t need money to use it, all you need is the right mind set then you can just take it out of your pocket and use it whenever you need it, its that simple. As you can see hope is the only thing you need, fear is the opposite. Hope doesnââ¬â¢t cost anything, all you need is a little faith and all your dreams will come true, hope is a free gift so why not use it every second of every day. Hope is used in even the saddest places to make them happier. The poorest person with hope is happier than the richest without hope. Some of the richest people used hope to get where they are now with just a little bit of faith and hope, that is all you will ever need in life, because it provides you with everything you will ever need. Hope exists for everyone; there is not one-person that canââ¬â¢t use hope. I use hope everyday and Iââ¬â¢m extremely happy. If you have hope you can fly to your dreams in life, for example when we were all little someone asked us what we wanted to be when we grow up and no matter what that kid said he or she didnââ¬â¢t have a doubt in their mind that they were not going to be what they dreamed but as we get older we start to loose hope and focus more on ââ¬Å"realityâ⬠. But the Dickinson shows us how to escape reality and dream a little. I think every one should use hope and read ââ¬Å"hopeâ⬠is the thing with feathers because it may cause you to see hope every day of your life and change your life forever.
Friday, November 15, 2019
Sustainable Development Essay -- Sociology Conservation Agriculture Es
Sustainable Development The term sustainable development was introduced in the 1987 report "Our Common Future". The World Commission on Environment and Development defined sustainable development as "development that meets the needs of the present generation without compromising the ability of future generations to meet their own needs". Different communities are organizing themselves to promote this ideology. They are combating the pressure of corporationsââ¬â¢ economic practices, which damage the environment and living conditions. Corporations are taking over community farms. This is degrading the land due to the harsh agricultural processes used for mass production. The use of chemicals, found in pesticides, fertilizers, and herbicides causes strain on the land. The meat industry is one of those corporations responsible for soil erosion and land destruction. McDonalds and Burger King use lethal poisons to destroy vast areas of Central American rainforest, to create grazing pastures for cattle, to be sent back to the states as burgers and pet food, and to provide fast food packaging materials. It takes 800 square miles of forest just to keep them supplied with paper for one year. In an interview in the meat production plant in Costa Rica, it was found that Montecillos Cooperative produces 20 to 24 tons of meat for hamburgers per month to export to fast-food restaurants in United States. ( S.D. "Sergio Quintana: Meat plant manager") Among other environmental and social problems is land use management. In Mozambique, for a family to own a small piece of land is a great privilege. Over 80 percent of Mozambiqueââ¬â¢s 17 million people are peasants whose survival depends on the food they grow. In the 1990ââ¬â¢s a peace treaty was sign... ...tional ways to work with the land and to re-establish our lost connection with nature as in the Andean region example. These changes and visions for a sustainable future are happening in every part of the world. The goal of sustainable development is to create a sense of responsibility towards other humans and nature and to promote the awareness that we only have a limited amount of resources, which need to be properly distributed. The most important aspect of sustainability is taking action in reflecting these ideas. Bibliography Conca Ken, Geoffrey D. Dabelko, Green Planet Blues, Westview Press 1998. Sustainable Development "Les Cheneaux Economic Forum" Witness Statement "Sergio Quintana: Meat Plant Manager" OXFAM America "U.S. and African Farmers Creating Co-Opportunities" OXFAM America "The Founding of Chuyma Aru: Reviving Andean Culture"
Tuesday, November 12, 2019
The Autobiography of Benjamin Franklin-Response Paper
Running head: PATH TO AUTO-IMPROVEMENT 1 The Autobiography of Benjamin Franklin: The Path to the Auto-improvement Luis A. Cruz Prof. Jerry Wallace HIST 1301 University of Texas at El Paso PATH TO AUTO-IMPROVEMENT 2 The Autobiography of Benjamin Franklin: The Path to the Auto-improvement The main reason that Franklin had to write his autobiography was to show how to live the life in a better way, at least in Franklin? experience. Franklin added two letters that eventually convinced him to finish his project of writing his autobiography. The letters (one from Mr. Able James and the other from Mr. Benjamin Vaughan) said to Franklin about the importance that had others would know about his life. Actually this book was not destined to talk about his role during the American Revolution. In fact, this book is about a way to get a life of excellence. During his autobiography Franklin remarked the facts that he thought more relevant for the auto-betterment.The main factors that I like were: the importance of reading, the education that Franklin? s father gave him and the accepting mistakes. During four parts of the autobiography, Franklin talked about how the books make him better. Franklin? s love for the books during his childhood was very important for his success. It is easier to acquire knowledge from books if you like reading than if it is just done as a task. His abilities for reading grew enough to develop his writing. At the time Franklin had developed reading (to gain knowledge) and writing (to transmit it) he is converted in a respectable man.In the most part of his life, due his knowledge, Franklin was very helpful in the development of the town where he lived. Also, with reading, Franklin reshaped his life style. For example, just consuming vegetables (sometimes ate fish), or just drinking water and nothing of beer although others laughed of it. Maybe getting a healthy life helped to the long life of Franklin. PATH TO AUTO-IMPROVEMENT 3 Next, Franklin? s father was too important in his development as person.I think the most important fact was when Franklin stole some quarry stones for a wharf. But when his father took notice of this, he taught to Franklin that when something bad is done to accomplish anything, then this does not worth it. Also, Franklin during his childhood and youth notice the importance of knowledge. Franklin saw his father as a respected man due his impartiality and capacity to solve problems. This example became a model to live in society for Franklin. Finally, Franklin showed the significance of accepting mistakes.Franklin said that he committed a very big mistake when he loses contact with Miss Read. At the time he returned from England, he married with Miss Read. Franklin believed that left her in the past was a big mistake because when they are married, they became happier. Also, accepting mistakes meant for Franklin the happiness. When he took notice that he could not be perfect, then just does not live mo re under pressure to reach perfection. This did not mean leave his life style. In conclusion, I think this is a very helpful book.Actually I believed that it would be more engaged with American history, but eventually, the lessons were very interesting like the importance of reading, the thirteen virtues, or working for the community. On the other hand, I think that the book is very hard to read due the differences and useless of some words, it is necessary a dictionary. Also, the way to write an autobiography is not the better. I remembered had read The Autobiography of Malcolm X, and this had a better sequence. Although this book was not made as a history resource, it helps to know the way of life in this era.
Sunday, November 10, 2019
Backup and Restore DHCP Database
Having a DHCP database backup protects users from data loss in case the database gets corrupted or lost due to circumstances. Three backup methods may be used for DHCP database and are all supported by DHCPServer service:â⬠¢ Synchronous backup ââ¬â this backup occur automatically and happens every 60 minutes (default backup interval)â⬠¢ Asynchronous backup ââ¬â this is a manual backup. The user can use this backup by using the Backup command on the DHCP console. â⬠¢ Windows Backup (ntbackup.exe) or non-Microsoft backup software The entire DHCP database is saved when the synchronous or asynchronous backup is used (Microsoft Corporation 2010). Restoring a DHCP database may be done by replacing the server database file Dhcp. mdb with a backup copy of the same file. The user may also get the databaseââ¬â¢s backup copy from the DHCPââ¬â¢s backup folder if the DHCP Manager is used. Restoration of the Dhcp. mdb file is also possible through the use of a tape backup or other backup media.All this procedures may be done if the user is a member of the Administrators group or has the proper authority to perform these tasks. Some points to remember when restoring a DHCP database are as follows (Microsoft Corporation 2010): â⬠¢ Restore database backup from the same Windows Server version. If the backup is from a different version, migrate the DHCP database to the same version using the netsh export/import command.â⬠¢ Restore database backup from the same language version.â⬠¢ DHCP service is temporarily stopped when restoring a DHCP database.
Friday, November 8, 2019
How to Perform the Dancing Gummi Bear Demonstration
How to Perform the Dancing Gummi Bear Demonstration Place a Gummi Bear candy into a test tube containing potassium chlorate and watch it dance amidst purple flames. This stunning demonstration is an example of a strongly product-favored reaction, plus its a lot of fun. Its easy and takes no time at all. What You Need Gummi bear candyPotassium chlorateLarge test tubeRing standBunsen burner or other heat sourceTongs Here's How Set up a large test tube over a heat source, such as a bunsen burner. Add a small amount of potassium chlorate to the test tube and heat it until it melts. The exact amount isnt important... aim for a small scoop.Using long-handled tongs, drop a Gummi Bear candy into the test tube.Its just that simple! The reaction between the sucrose in the Gummi Bears, potassium chlorate, and oxygen produces carbon dioxide, water, and potassium chloride. Tips Use proper safety precautions, including safety goggles and a lab coat. Be advised, the reaction is vigorous enough that the test tube may shatter. Adult supervision is required.The Instant Fire demonstration is very similar to the Dancing Gummi Bear demo.Another way to do this demonstration is to set the Gummi Bear on top of cold potassium chlorate. When you are ready to start the reaction, it can be initiated by adding a couple of drops of sulfuric acid to the contents of the test tube.
Tuesday, November 5, 2019
HMS Warrior (1860) in the Royal Navy
HMS Warrior (1860) in the Royal Navy HMS Warriorà -à General: Nation: Great Britain Builder: Thames Ironworks Shipbuilding Co. Ltd. Laid Down: May 25, 1859 Launched: December 29, 1860 Commissioned: August 1, 1861 Decommissioned: May 31, 1883 Fate: Museum ship at Portsmouth, England Specifications: Type: Armored Frigate Displacement: 9,210 tons Length: 418 ft. Beam: 58 ft. Draft: 27 ft. Complement: 705 Power Plant: Penn Jet-Condensing, horizontal-trunk, single expansion steam engine Speed: 13 knots (sail), 14.5 knots (steam), 17 knots (combined) Armament: 26 x 68-pdr. guns (muzzle-loading)10 x 110-pdr. Armstrong guns (breech-loading)4 x 40-pdr. Armstrong guns (breech-loading) HMS Warriorà -à Background: During the early decades of the 19th century the Royal Navy began add steam power to many of its ships and was slowly introducing new innovations, such as iron hulls, into some of its smaller vessels. In 1858, the Admiralty was stunned to learn that the French had commenced construction of an ironclad warship named La Gloire. It was the desire of Emperor Napoleon III to replace all of Frances warships with iron-hulled ironclads, however French industry lacked the capacity to produce the needed plate. As a result, La Gloire was initially built of wood then clad in iron armor. HMS Warriorà - Design and Construction: Commissioned in August 1860, La Gloire became the worlds first ocean-going ironclad warship. Sensing that their naval dominance was being threatened, the Royal Navy immediately commenced construction on a vessel superior to La Gloire. Conceived by Admiral Sir Baldwin Wake-Walker and designed by Isaac Watts, HMS Warrior was laid down at Thames Ironworks Shipbuilding on May 29, 1859. Incorporating a variety of new technology, Warrior was be a composite sail/steam armored frigate. Built with an iron hull, Warriors steam engines turned a large propeller. Central to the ships design was its armored citadel. Built into the hull, the citadel contained Warriors broadside guns and possessed 4.5 iron armor which was bolted onto 9 of teak. During construction, the design of the citadel was tested against the most modern guns of the day and none were able to penetrate its armor. For further protection, innovative watertight bulkheads were added to the vessel. Though Warrior was designed to carry fewer guns than many other ships in the fleet, it compensated by mounting heavier weapons. These included 26 68-pdr guns and 10 110-pdr breech-loading Armstrong rifles. Warrior was launched at Blackwall on December 29, 1860. A particularly cold day, the ship froze to the ways and required six tugs to pull it into the water. Commissioned on August 1, 1861, Warrior cost the Admiralty à £357,291. Joining the fleet, Warrior served primarily in home waters as the only dry dock large enough to take it was in Britain. Arguably the most powerful warship afloat when it was commissioned, Warrior quickly intimidated rival nations and launched the competition to build bigger and stronger iron/steel battleships. HMS Warrior - Operational History: Upon first seeing Warriors power the French naval attachà © in London sent an urgent dispatch to his superiors in Paris stating, Should this ship meet our fleet it will be as a black snake among rabbits! Those in Britain were similarly impressed including Charles Dickens who wrote, A black vicious ugly customer as ever I saw, whale-like in size, and with as terrible a row of incisor teeth as ever closed on a French frigate. A year after Warrior was commissioned it was joined by its sister ship, HMS Black Prince. During the 1860s, Warrior saw peaceful service and had its gun battery upgraded between 1864 and 1867. Warriors routine was interrupted in 1868, following a collision with HMS Royal Oak. The following year it made one of its few trips away from Europe when it towed a floating dry dock to Bermuda. After undergoing a refit in 1871-1875, Warrior was placed in reserve status. A groundbreaking vessel, the naval arms race that it helped inspire had quickly led to it becoming obsolete. From 1875-1883, Warrior performed summer training cruises to the Mediterranean and Baltic for reservists. Laid up in 1883, the ship remained available for active duty until 1900. In 1904, Warrior was taken to Portsmouth and renamed Vernon III as part of the Royal Navys torpedo training school. Providing steam and power for the neighboring hulks that comprised the school, Warrior remained in this role until 1923. After attempts to sell the ship for scrap in the mid-1920s failed, it was converted for use a floating oil jetty at Pembroke, Wales. Designated Oil Hulk C77, Warrior humbly fulfilled this duty for half a century. In 1979, the ship was saved from the scrap yard by the Maritime Trust. Initially led by the Duke of Edinburgh, the Trust oversaw the eight-year restoration of the ship. Returned to its 1860s glory, Warrior entered its berth at Portsmouth on June 16, 1987, and began a new life as a museum ship.
Sunday, November 3, 2019
San Francisco Symphony Case Analysis Study Example | Topics and Well Written Essays - 2750 words
San Francisco Symphony Analysis - Case Study Example The industry is characterized by declining subscriber base for concerts, which since and this forms the core product of artistic performance. Symphonies are experiencing challenges in attracting younger generation and growing their subscriptions due to changes in lifestyles and desires (Schmitt, p 5). Another trend in the industry is the increasing musician costs that have led to operating deficits for 9 out of 10 of the orchestras in the US. Musicianââ¬â¢s salaries form 50 percent of the operating costs and have increased substantially due to the need to retain talent and meet trade union demands (Schmitt, p 5). The industry is characterized by poor working relationships among musician unions, boards of directors and management staff. and tThis trend has led to musician strikes (Schmitt, p 5). For instance, the Detroit Symphony experienced a 6 -month strike in 2011. The while Chicago Symphony Orchestra experienced a 48- hour strike that culminated to higherin an increase of musician salaries without additional responsibilities like community outreach. SFS experienced a 2two-week strike in March 2013 thus leading to cancelation of the East Coast tour and performance at New Yorkââ¬â¢s Carnegie Hall (Schmitt, p 6). 2.1Corporate strategy The corporate strategy of SFS is aimed at ensuring the highest possible standard of excellence in music performance across the globve. The company has a range of musical styles and innovative approach to music presentation (Schmitt, p 12). It is imperative for the SFS to appeal to a younger generation through outreach programs.
Friday, November 1, 2019
Value at Risk framework and its utility in Risk Management Assignment
Value at Risk framework and its utility in Risk Management - Assignment Example filed bankruptcy due to failure on their part to manage risk during the financial disaster that occurred in 1990s. If there is not proper management or poor supervision, then billions of dollars may be lost when a financial disaster occurs. VaR is a technique of evaluating risk that employs standard statistical methodologies employed on regular levels in other technical fields. VaR reviews the worst financial loss over a target perspective that will not be surpassed with a given intensity of confidence. Footed on strong scientific groundwork, VaR offers its users with an outline evaluation of risk in market. ââ¬Å"For example, a financial institution might inform that its VaR of its trading assortment on a daily basis is $10 million at the 98% buoyancy or ââ¬Å"confidence levelâ⬠. This mean, there is only 1 opportunity in a 100, under typical market scenario, for a financial loss higher than $50 million to happen. This single number recapitulates the bankââ¬â¢s vulnerabilit y not only to the prospect of an unfavourable move but also to market risk.â⬠It evaluates the risk employing the analogues' units as the bankââ¬â¢s bottom-line dollars. ... As a result, it is truly a futuristic risk evaluation. VaR is applicable to all financial instruments though in the initial stage, it has been applied only to derivatives. (Jorion 2007: ix) 2- Background Every morning, in J.P Morgan Chase, the global head of Market risk receives a bulk report that summaries the value at risk (VaR) of the bank. JPMorgan Chase's bankââ¬â¢s global risk management system is generating this report during every night. Today, many brokerage firms, many banks, investment funds and even nonfinancial companies employ analogues methods to estimate their financial risk. Securities market regulators, private sector groups and banks have widely acknowledged statistical based risk management strategies like VaR. (Jorion2007:18). Till Guldimann can be said to be the father of the concept VaR while he functioned as the head of global research at J.P Morgan in the late 1980s. J P Morganââ¬â¢s risk management group had to decide whether fully hedged meant making investment in long-maturity bonds, thus creating a fixed and stable revenues but oscillations in market value or investing in cash thus making the market value as fixed. The J P Morgan bank concluded that ââ¬Å"value risks ââ¬Å"were more significant than ââ¬Å"earning risksâ⬠resulting from the invention of VaR. (Jorion2007:18). During that period, there were more concerns in the bank about managing the risk of derivatives. The Group of Thirty (G-30) which had a delegate from J P Morgan offered a way for deliberating best risk management techniques. Through the G-30 report which was published in July 1993, the term VaR term found its way. (Jorion2007:18). On June 26, 1974, the German authorities closed a troubled midsized bank namely
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