Ethics Essay Topics - Three Essay Topics That Will Help You Stand Out From the Crowd

Ethics Essay Topics - Three Essay Topics That Will Help You Stand Out From the CrowdIf you want to publish your ethics essay for this year's high school ethics competition, here are three topics you may consider for the essay that will help you stand out from the crowd of similar essays. Many high school students start writing their essays based on a topic that is a passion of theirs and they discover that these topics are often not too far from the truth.College freshmen are likely to have come into the college experience with a lot of misconceptions. You may not realize it but you might be better off applying for one of these essays than one based on bad personal experiences. These young adults will be far more concerned about getting an A in the class than they will be about finding out what grade they get.One of the biggest misconceptions for a college student is the notion that it is wrong to refuse a handout. This is true if the offer is given as a gift but it is also a good re ason to refuse a phone call or letter. Try to avoid quoting figures, statistics, or books when you are writing your essay.A successful essay has a variety of subjects. You need to give some thought to the best place to start. Look at the names of your college, a college town, and/or a college campus. It may be easier to talk about these three subject areas than to put all of your research into one topic area.When you are writing an ethical argument essay, it is easy to make a mistake that can hurt your reputation in the future. You should look at writing an essay very carefully and try to avoid making any mistakes. This can be especially important when you find that you have made a careless mistake in your research.One of the most important aspects of a successful essay is a thorough discussion of all sides of the debate. Use multiple sources to include viewpoints from each side of the argument. You may wish to use both your own and others views when you are compiling your essay. Of ten times, when you go through the process of researching the topic, you are also doing the same for the other side of the argument.Writing an ethical argument essay is one of the easiest things to do as a student. However, to make sure that you get a good grade, take some time to think about your topic, consider both sides of the argument, and make sure that you do not miss a point.

Islamic World Evolution Of Islam - 1779 Words

Islamic World Evolution One of the most controversial topics is whether if the Islam religion is a peaceful religion or a corrupt. To have a better understanding of the faith, one must know about the history and the way the religion has evolved throughout the years. The evolution of their political system, economic and social impacts during the middle ages and the Renaissance. Also, what they have accomplished throughout those years. It may be an achievement in medicine, agriculture or their industrial system. The religion Islam is made up of various factors. Factors that are a whole and have an affiliation on the way the Islam religion evolved or how they could have developed other fields. In my perspective, significant achievements that the Islam had were the way the religion established, when the Ottoman Empire was founded, the economy during the middle age, the revolution of agriculture, first fiction literature book published, industrial growth, technology, art, and medicine. A ll of these topics have played a huge role in the development of Islam and how they used it all to their advantage and how they were able to benefit out of it. The Islamic establishment began with Prophet Muhammad’s death in 632. After this death, the expansion of Islam went from Mecca, Medina and the Hijaz religion. However, the newly tribes who joined to Muhammad’s organization tried to leave the institution, and that is where the Ridda wars began. The conquest of all the Sassanian andShow MoreRelatedIslamic Reform Since 9/111184 Words   |  5 Pages The religion of Islam garners large amounts attention. Many believe it is a violent and backwards religion. Since 9/11, Islamic reform has become an all-purpose phrase: equally a western impulse to protect itself from Muslim violence and a humanist notion aimed at assisting voiceless Muslims (Eteraz1). Extreme displays of Islamic faith such as the attacks on the World Trade Center on 9/11 have generated negative stereotypes about Islam as a religion. These stereotypes of violence and backwardsRead MoreMessi Is the Best Player776 Words   |  4 PagesWhat is Islam Islam , [Arab.,=submission to God], world religion founded by the Prophet Muhammad. Founded in the 7th cent., Islam is the youngest of the three monotheistic world religions (with Judaism and Christianity). An adherent to Islam is a Muslim [Arab.,=one who submits]. Believers Worldwide There are more than 1 billion Muslims worldwide, fewer than one fifth of whom are Arab. Islam is the principal religion of much of Asia, including Indonesia (which has the world s largest Muslim population)Read MoreEssay about Hebrew Wisdom on Diligence and Laziness934 Words   |  4 PagesCritical Thinking Assignment Part I 1) I chose the Islam worldview i)The Question of Origin-- Islams believe that man came into being through a long process of evolution. They believe the evolutionary process which produced man in its form today took millions of years, and man evolved from lower forms of animal life. In their belief,it was only small types of animals in the beginning, and in the course of time animals got larger and eventually one of these animals developed into manRead MoreUnderstanding Islam Assignment Essay626 Words   |  3 PagesUnderstanding Islam Assignment Although Islam is the second largest religion in the world, the infamy alone is not sufficient enough for some people to change their current views of the adherents of this religion. This history of this religion is remarkable; it started out among a small population of advocates in Arabia. It did not take a long time for this religion to spread and flourish. A religion that was established in Arabia suddenly extended to the natives of Spain, Africa, and China (â€Å"Background-TwoRead MoreA Look at Prominent Worldviews1349 Words   |  6 Pagesthat world view is â€Å"†¦a set of presuppositions†¦ which we hold†¦ about the makeup of our world.† As of me, my definition does not deviate much. World view is the way, either supported or unsupported, how I see what I see. It’s like glasses where I see everything through the filter of glasses. Supposedly, world view can affect one very much. The fact that Muslims goes to Mecca or Christians going to church e very week or the mere choice between chocolate bar and ice cream are all affected by world viewRead MoreIslam, Science, and Evolution1370 Words   |  6 PagesSince the 1800’s, the influence of Darwin’s theory of evolution has been taken into thorough consideration and repetitively debated to whether human biological development evolved from chimpanzees through out time along with the idea of how all life on earth came to existence. In fact, this theory has struck such a high level of controversey that it primarily became a crucial idea of intellectuality discussed within the West and around the world. Science and relegion have been the greatest factorsRead MoreRise and expansion of islam1336 Words   |  6 PagesThe rise and expansion of Islam has had a significant impact on the role and rights of women throughout history. Since its origin in the seventh century until modern times, the Muslim faith has somewhat broadened, but has mostly restricted women’s ri ghts in numerous Islamic communities. The history of Muslim women is complex, as it involves many advances and declines in numerous locations, such as Egypt, Afghanistan, and Iran, concerning several subjects, including both civil and social rights. ThusRead MoreReligion Is The Most Important Aspect Of A Person s Life1057 Words   |  5 Pagescommunity in the world have adopted their rules of law, and societal rules according to the tenets of their religious views. Although one may think that religion caused humans to be less technologically advanced, religion has nonetheless brought social changes and shape communities to live according to moral and ethical guidelines. For example; The Islamic religion have recently endured high criticism among western nation. Such criticism have been led to nationalist groups, Islamic terrorist organizationsRead MoreSimilarities Between Buddhism And Islamic Religion1272 Words   |  6 PagesEvery religion presented in society is connected to one another, if even in the smallest ways. Buddhism and Islam are religions that demonstrate similarities in ethical standards artistic works despite they emerged 1000 years apart. Buddhism and Islamic artwork expresses similar feelings on icons placed on art, yet these religions have different reasons why. The spread of Buddhism and Islamic religion once illustrated similarities in their artwork however; they began to branch off showing differencesRead MoreThe Islamic Civilization And Islam1658 Words   |  7 Pageswell-versed discussion about Islamic civilization without first defining two key terms: Civilization and Islam. Associate Professor at Washington University in St. Louis, Ahmet Karamustafa, defines civilizations as, â€Å"nothing more than a particular, even unique combination of ideas and practice that groups of human actors – who are the real agents of human history – affirm as their own and use to define and develop their own sense of presence an d agency in the world† (Karamustafa 103). Thus,

International Financial Markets And Forex Desk Brs Finance Essay - Free Essay Example

Sample details Pages: 14 Words: 4126 Downloads: 3 Date added: 2017/06/26 Category Finance Essay Type Argumentative essay Did you like this example? The main objective of multinational financial management is to make financing and investment decision that add as much value as possible to the firm. The main focus of this report is on foreign exchange and the risks associated with it. The primary purpose of the foreign exchange market is to assist international trade and investment, by allowing businesses to convert one currency to another currency. Don’t waste time! Our writers will create an original "International Financial Markets And Forex Desk Brs Finance Essay" essay for you Create order This report will cover the risk management tools with reference to hedging and derivatives in depth. The main topics discussed in detail in this regards are exchange rates, foreign exchange risk exposure and the use of option. FOREX DESK BRS EXCHANGE RATES: Internationalization of businesses has long since begun when companies through stiff competition looked for new markets and cheap materials and labour. So today a global foreign exchange market is not something new. Money is easily transferred from investors and borrower and buyers and sellers even across borders. Since different countries use different currencies, money has to be converted. Conversion occurs when there is foreign currency exchange. The place where exchange of currency happens is called the foreign exchange market. The date on which two foreign currencies are exchanged is called a settlement date. Before discussing about the fundamental determinants of exchange rates, it is essential to know the significance of exchange rate. Significance  [1] The exchange rate expresses the national/domestic currencys quotation  in respect to  foreign  ones. For example, if one US dollar is worth 10 000 Japanese Yen, then the exchange rate of dollar is 10 000 Yen. If something costs 30 000 Yen, it automatically costs 3 US dollars as a matter of accountancy. Going on with fictious numbers, a Japan  GDP  of 8 million Yen would then be worth 800 Dollars. Thus, the exchange rate is a  conversion factor, a multiplier or a ratio, depending on the direction of conversion. In a slightly different perspective, the exchange rate is a  price. If the exchange rate can freely move, the exchange rate may turn out to be the  fastest moving  price  in the economy, bringing together all the foreign goods with it. Types of exchange rate Firstly it is essential to distinguish nominal  exchange rates from  real  exchange rates.  Nominal  exchange rates are established on foreign exchange (forex) markets. Rates are usually established in continuous quotation, with newspaper reporting daily quotation (as average or finishing quotation in the trade day on a specific market). Central bank may also fix the nominal exchange rate. Real exchange rates are  nominal rate corrected  somehow by  inflation  measures. For instance, if a country A has an inflation rate of 10%, country B an inflation of 5%, and no changes in the nominal exchange rate took place, then country A has now a currency whose real value is 10%-5%=5% higher than before. In fact, higher prices mean an appreciation of the real exchange rate, other things equal. Foreign Exchange Rate Determination: There are three broad factors that affect foreign exchange rate: supply and demand for money, government intervention and inflation. Supply and demand of money:  [2]  the more people want a certain currency the higher the foreign exchange rate will be of such currency. The laws of supply and demand show that:  [3] High supply causes low prices, and high demand causes high prices. When there is an abundant supply of a given commodity then the price should fall. When there is a scarce supply of a given commodity then the price should increase. Therefore, an increase in the demand for a commodity would cause it to appreciate in value, whereas an increase in supply would cause it to depreciate. I have taken the example of British pound and US Dollars to show how these forces work. Demand Curve: The following figure shows the demand for British pounds in the United States. The curve is a normal downward sloping demand curve, indicating that as the pound depreciates relative to the dollar, the quantity of pounds demanded by Americans increases. For Americans, British goods are less expensive when the pound is cheaper and the dollar is stronger. At depreciated values for the pound, Americans will switch from American-made or third-party suppliers of goods and services to British suppliers. Before they can purchase goods made in Britain, they must exchange dollars for British pounds. Consequently, the increased demand for British goods is simultaneously an increase in the quantity of British pounds demanded. Supply Curve The following figure shows the supply side of the picture. The supply curve slopes up because British firms and consumers are willing to buy a greater quantity of American goods as the dollar becomes cheaper (i.e. they receive more dollars per pound). Before British customers can buy American goods, however, they must first convert pounds into dollars, so the increase in the quantity of American goods demanded is simultaneously an increase in the quantity of foreign currency supplied to the United States. LAW OF ONE PRICE: The  Law of One Price  says that identical goods should sell for the same price in two separate markets. This assumes no transportation costs and no differential taxes applied in the two markets. For example, an ounce of  gold should cost the same on commodity exchanges in Chicago and London. If the gold costs more on one exchange, then traders would have incentive to purchase the gold on one exchange and sell it at the other one. They would do  what is called an  arbitrage. Interest Rates: Interest rates, inflation and exchange rates are all highly correlated. By manipulating interest rates,  central banks  exert influence over both inflation and exchange rates, and changing interest rates impact inflation and currency values. Higher interest rates offer lenders in an economy a higher return relative to other countries. Therefore, higher interest rates attract foreign capital and cause the exchange rate to rise. The impact of higher interest rates is mitigated, however, if inflation in the country is much higher than in others, or if additional factors serve to drive the currency down. The opposite relationship exists for decreasing interest rates that is, lower interest rates tend to decrease exchange rates Rate of inflation.  [4]  The faster prices rise, the lesser is the value of money. Traders watch the development of inflation closely because inflation is said to erode the value of money. If $20 can buy two pairs of running shoes four years ago, by inflation it is possible that only a pair of shoes can be bought at present time. As a general rule, a country with a consistently lower inflation rate exhibits a rising currency value, as its purchasing power increases relative to other currencies. The countries with higher inflation typically see depreciation in their currency in relation to the currencies of their  trading partners. This is also usually accompanied by higher  interest rates. Balance of Payment: A  balance of payments (BOP)  sheet is an accounting record of all monetary transactions between a country and the rest of the world.[1]  These transactions include payments for the countrys  exports  and  imports  of  goods,  services, and financial capital, as well as  financial transfers. The BOP summarises international transactions for a specific period, usually a year, and is prepared in a single currency, typically the domestic currency for the country concerned. Sources of funds for a nation, such as exports or the receipts of loans and investments, are recorded as positive or surplus items. Uses of funds, such as for imports or to invest in foreign countries, are recorded as a negative or deficit item. 2) Fund Flow Theory and Asset Approach: The net of all cash inflows and outflows in and out of  various  financial  assets. Fund flow is usually measured on a monthly or quarterly basis.  The performance of an asset or fund is not taken into account, only share redemptions (outflows) and share purchases (inflows).  [5] PURCHASING POWER PARITY: Type of Purchasing Power Parity Purchasing power parity (PPP) is a theory which states that exchange rates between currencies are in equilibrium when their purchasing power is the same in each of the two countries. This means that the exchange rate between two countries should equal the ratio of the two countries price level of a fixed basket of goods and services. When a countrys domestic price level is increasing (i.e., a country experiences inflation), that countrys exchange rate must depreciated in order to return to PPP. The basis for PPP is the law of one price. In the absence of transportation and other transaction costs, competitive markets will equalize the price of an identical good in two countries when the prices are expressed in the same currency. Emperical Evidence: A particular TV set that sells for 750 Canadian Dollars [CAD] in Vancouver should cost 500 US Dollars [USD] in Seattle when the exchange rate between Canada and the US is 1.50 CAD/USD. If the price of the TV in Vancouver was only 7 00 CAD, consumers in Seattle would prefer buying the TV set in Vancouver. If this process (called arbitrage) is carried out at a large scale, the US consumers buying Canadian goods will bid up the value of the Canadian Dollar, thus making Canadian goods more costly to them. This process continues until the goods have again the same price.. Economists use two versions of Purchasing Power Parity: absolute PPP and relative PPP. Absolute PPP was described in the previous paragraph; it refers to the equalisation of price levels across countries. Relative PPP refers to rates of changes of price levels, that is, inflation rates. This proposition states that the rate of appreciation of a currency is equal to the difference in inflation rates between the foreign and the home country. For example, if Canada has an inflation rate of 1% and the US has an inflation rate of 3%, the US Dollar will depreciate against the Canadian Dollar by 2% per year. This proposition holds well empirically especially when the inflation differences are large. INTEREST RATE PARITY:  [6] Interest rate parity  is a relationship that must hold between the spot interest rates  of two currencies if there are to be no  arbitrage opportunities. The relationship depends upon  spot  and  forward exchange rates between the currencies. It  is Where s  is the spot exchange rate, expressed as the price in currency a  of a unit of currency  b;   f  is the corresponding forward exchange rate; ra  and  rb  are the interest rates for the respective currencies; and m  is the common maturity in years for the forward rate and the two interest rates. There are two types of interest rate parities covered and uncovered.  Covered interest rate parity is when the interest rate returns of the two methods are equal and in parity because the investor covered himself through a forward contract against the currency changes.  Uncovered interest rate pa rity assumes that the difference between the interest rates of two currencies will equal the predicted depreciation of a currency. INTERNATIONAL FISHER EFFECT: International Fisher Theory states that an estimated change in the current exchange rate between any two currencies is directly proportional to the difference between the two countries nominal interest rates at a particular time. According to  International Fisher Theory hypothesis, the real interest rate in a particular economy is independent of monetary variables. With the assumption that real interest rates are calculated across the countries, it can also be concluded that the country with lower interest rate would also have a lower inflation rate. This will make the real value of the countrys currency rise over time. This theory is also known as the assumption of Uncovered Interest Parity. The International Fisher theory is calculated by the following formula: E = [(i1-i2)/(1+i2)] ÃÆ' ¢Ãƒ ¢Ã¢â€š ¬Ã‚ °Ãƒâ€¹Ã¢â‚¬   (i1-i2) Where: E represents the percentage change in exchange rate i1 represents the interest rate of country A i2 represents the interest rate of country B For example, if the interest rate of country A is 10% and that of country B is 5%, then the currency of country B should appreciate roughly 5% compared to the currency of country A. FOREIGN EXCHANGE QUOTATION: It can be quoted in two ways : Direct Quotation : It means a rate of exchange quoted in terms of X units of home currency to one unit of foreign currency. Indirect Quotation It means a rate of exchange quoted in terms of Y units of foreign currency per unit of home currency. Example: Now Future (Spot Rate) (Future Spot Rate) Cs Fs Lets assume, the current exchange rate is $ 1.6/  £. If the UK inflation is 10% and US is 6%, what would be the exchange rate in one year . Direct Quotation Formula: Fs / Cs = ( 1 + i home / 1 + i foreign ) Fs = 0.625  £ / $ ( 1 + 0.10 / 1 + 0.06) = 0. 648  £ / $ Indirect Quotation Formula: Fs / Cs = ( 1 + iforeign / 1 + i home ) Fs = 1.6 $ ( 1 + 0.06 / 1 + 0.10 ) = $ 1.541/  £ SPOT RATE AND FORWARD RATE: The  forward rate  is the rate which appears in a contract to exchange a currency for another date in the future. It is distinguished from the  spot rate, which is the rate used in agreements to exchange one currency for another immediately. No currency changes hand between the parties in a forward contract at the time it is signed; the currency is exchanged at the maturity date of the contract date in the future. The bid ask spread represents the difference between the bid and the ask price. Some  securities  will have a very small spread (as small as one penny) and others will have very high spreads which generally mean that the  security  is very illiquid. Current spread for US$ =bid rate- ask rate = 1.55813 0.64180= 0.91601 Current spread for GBP( £)= 1.55815-0.64179=0.91636 TIME SERIES PLOT: GBP PER US DOLLAR: USD PER GBP: From the plot, it can be observed that: In 2009: 1 USD = 0.61834 £ In 2010 1USD = 1/1.56673 $ = 0.63827 £ Hence the value of the GBP depreciated by: (0.61834-0.63827)/0.61834= 3.3% FOREIGN EXCHANGE RISK EXPOSURE: Foreign Exchange Exposure: The sensitivity  of the real home currency value of an asset, liability or an operating income to an unanticipated  change in the exchange rate, assuming unanticipated changes in all other currencies as zero. Foreign Exchange Risk: It is the variability  of the domestic currency values of assets, liabilities, operating incomes due to unanticipated  changes in exchange rate. Amount lent by the US based firm to British Client for 1 Year is : $ 10,000,000 Suppose the spot exchange rate is $1.5/ £. Therefore the British client will receive in Pounds can be calculated as: $10,000,000*  £1/1.5 =  £ 6,600,000 Therefor the client will return back  £6,600,000. There are 2 scenarios to be considered: If the exchange rate becomes low: say $1.2/ £ Therefore the client will be paying back  £6,600,000*$1.2 = $7,920,000 Hence the foreign exchange risk exposure for the US based firm will be $10,000,000 - $7,920,000 = $2,080,000 If the exchange rate becomes high, say $1.8/ £ Now the client will be paying back  £6,600,000*1.8$ = $ 11,880,000 Hence the clients risk exposure will be $1,880,000 or  £ 1,044,444 HEDGING FOREIGN ECHANGE RISK EXPOSURE: The following are the ways in which the US based company and the British based clients can Hedge their foreign exchange risk: Hedge using futures or forwards contracts. This is the most common way of managing foreign exchange  risk. A forward contract is a transaction in which the delivery of the commodity is postponed until the contract has been made. The delivery is often in the future, however, the price is well determined in advance. Hedging is the act of taking an offsetting position in a related security. A good example would be if you own a currency, you will sell a futures contract stating that you will sell the currency at a set price in the future. A perfect hedge can reduce risk to nothing except the cost of the hedge. Use options trading as a  strategy  to reduce foreign exchange risks. Just like stocks, currencies have calls and puts that allow buyers to buy or sell the financial asset at a predetermined price during a certain period of time or on a specific date (exercise date). Options is considered to be the most dependable form of hedge. When traditional positions are used with a forex option they can minimize the risk of loss in a currency trade. Use swaps: If firms in separate countries have comparative advantages on interest rates, then a swap could benefit both firms. For example, one firm may have a lower fixed  interest rate, while another has access to a lower floating interest rate. These firms could swap to take advantage of the lower rates. For example, our company based in the United States our client company based in England. Our company (US based) needs to take out a loan denominated in British pounds and our client needs to take out a loan denominated in U.S. dollars. The two companies swap to take advantage of the fact that each company has better rates in its respective country. When these two companies swap, they will be able to save on interest rates by combining the privilege they hav e in their own countrys market. c) INTEREST RATE SWAP AND CURRENCY SWAP: A  swap  is a  cash-settled  OTC  derivative  under which two counterparties exchange two streams of cash flows. It is called an  interest rate swap  if both cash flow streams are in the same currency and are defined as cash flow streams that might be associated with some fixed income obligations. The most popular interest rate swaps are  fixed-for-floating swaps  under which cash flows of a fixed rate loan are exchanged for those of a  floating  rate loan. A  currency swap  [7]  Ãƒâ€šÃ‚  is most easily understood by comparison with an  interest rate swap. An interest rate swap is a contract to exchange cash flow streams that might be associated with some fixed income obligations say swapping the cash flows of a fixed rate loan for those of a  floating  rate loan. A currency swap is exactly the same thing except, with an interest rate swap, the cash flow streams are in the same currency. With a currency swap, they are in different currencies. Since the client is British based requires loan in terms of pounds and the home currency is US Dollars, my recommendation would be to go for currency swap to minimize the risk of foreign exposure since currency swap involves swap of two different currencies whereas for interest rate swap the currency should be the same. C. USE OF OPTION:  [8] TYPES OF FOREIGN CURRENCY OPTION: A foreign currency option is an option which gives the owner the right to buy or sell the indicated amount of foreign currency at a specified price before a specific date. The Call Option establishes a ceiling for the exchange rate, and the option can be used to hedge foreign currency outflows (potential payments). The 2 major types of foreign currency options are: CALL OPTION: ÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¢If SX (Where S is the Spot price and X is the exercise or Spot exchange rate) Profit increases one-for-one with appreciation of the foreign currency. At (X+P) the holder of the option breaks even (ceiling price). Here P is the Premium. ÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¢If SX The call option will not be exercised, because the holder is better off buying the foreign currency in the spot market. The holder will have a negative profit reflecting the premium,  P Profit Profile For a Call Option Example: The holder of a call option expects the underlying currency to appreciate in value. Consider 4 call options on the euro, with a strike price of 152 ($/ÃÆ' ¢Ãƒ ¢Ã¢â€š ¬Ã… ¡Ãƒâ€šÃ‚ ¬) and a premium of 0.94 (both cents per ÃÆ' ¢Ãƒ ¢Ã¢â€š ¬Ã… ¡Ãƒâ€šÃ‚ ¬). ÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¢The face amount of a euro option isÃÆ' ¢Ãƒ ¢Ã¢â€š ¬Ã… ¡Ãƒâ€šÃ‚ ¬62,500. ÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¢The total premium is: $0.0094 ·4 ·ÃƒÆ' ¢Ãƒ ¢Ã¢â€š ¬Ã… ¡Ãƒâ€šÃ‚ ¬62,500=$2,350 PUT OPTION: The Put Option establishes a floor for the exchange rate, and the option can be used to hedge foreign currency inflows ÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¢If SX = The call option will not be exercised, because the holder is better off selling the foreign currency in the spot market. The holder will have a negative profit reflecting the premium, P If SX = Profit increases one-for-one with depreciation of the foreign currency. At (X-P) the holder of the option breaks even (floor price). Profit Profile for a Put Option EXAMPLE: The holder of a put option expects the underlying currency to depreciate in value. Consider 8 put options on the euro with a strike price of 150 ($/ÃÆ' ¢Ãƒ ¢Ã¢â€š ¬Ã… ¡Ãƒâ€šÃ‚ ¬) and a premium of 1.95 (both cents/ ÃÆ' ¢Ãƒ ¢Ã¢â€š ¬Ã… ¡Ãƒâ€šÃ‚ ¬). ÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¢The face amount of a euro option is ÃÆ' ¢Ãƒ ¢Ã¢â€š ¬Ã… ¡Ãƒâ€šÃ‚ ¬62,500. ÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¢The total premium is: $0.0195 ·8 ·ÃƒÆ' ¢Ãƒ ¢Ã¢â€š ¬Ã… ¡Ãƒâ€šÃ‚ ¬62,500=$9,750 BUYING A CALL OPTION AND WRITING A PUT OPTION: Buying a call option: A person would buy a  call option  in the commodities or futures markets if he or she expected the  underlying  futures price to move higher. Buying a call option entitles the buyer of the option the right to purchase the underlying futures contract at the  strike price  any time before the contract expires. This rarely happens and there is not much benefit to doing this, so dont get caught up in the formal definition of buying a call option. Most traders buy call options because they believe a commodity market is going to move higher and they want to profit from that move. You can also exit the option before it expires during market hours, of course. Writing a put option:  [9] Put  writing is an essential part of  options  strategies. Selling a put is a strategy where  an investor writes  a put contract, and by selling the contract to the put buyer, the investor has sold the right to sell shares at a specific price. Thus, the put buyer now has the right to sell shares to the put seller. Selling a put is advantageous to an investor because he or she will receive the premium in exchange for committing to buy shares at the strike price. If the price of the stock falls below the strike price, the put seller will have to purchase shares from the put buyer when the option is  exercised. Therefore, a put seller usually has a neutral/positive outlook on the stock or expects a decrease in  volatility  that he or she can use to create a profitable position. 3.) Two options which are similar in all respects but with different expiration dates would not trade at the same premium due to the consideration o f time value of money. The value of an option can be calculated using The Black-Scholes model. It is used to calculate a theoretical call price (ignoring dividends paid during the life of the option) using the five key determinants of an options price: stock price, strike price, volatility, time to expiration, and short-term (risk free) interest rate. The original formula for calculating the theoretical option price (OP) is as follows: Where: The variables are: S = stock price X = strike price t = time remaining until expiration, expressed as a percent of a year r = current continuously compounded risk-free interest rate v = annual volatility of stock price (the standard deviation of the short-term returns over one year). See below for  how to estimate volatility. ln = natural logarithm N(x) = standard normal cumulative distribution function e = the exponential function DEEP-IN-THE MONEY OPTIONS: An option is said to be deep in the money when it is very favourable to exercise the option. A call option is said to be deep in the money if its exercise price is extremely lower than the strike price. For example: Suppose the exercise price agreed for the option was 40  £ and the strike price is 70 £, then it is obvious that the buyer will definitely but the option. Hence it does not go unexercised. On the other hand a put option is said to be deep in the money if its exercise price is higher than the share price. For example: Suppose the exercise price of the option was set at 50 £ and the strike price is 30 £. Then the seller will definitely sell the option and exercise the option since it profits the seller. Hence a deep in the money option never goes unexercised. If GBP ( £) were to depreciate against US $, British exports would become cheaper. This can be illustrated using the following figures used in section A. The GBP depreciated from 0.61834 £ to 0.63827 £, so the foreign market will demand for more products from the UK, so exporter will buy the put option to protect the value of his receivables. Conclusions The risk management tools used by the bank with specific reference to hedging and derivatives have been discussed in depth. Exchange rates which are the most important factor to be considered in international investment have been discussed considering the current spread in the market. The calculation of the foreign risk exposure has also been performed and it is advised that the use of option as a hedging technique would benefit both the home company and the foreign company. Therefore as far as foreign exchange market is conserved it is very essential to keep a watch on all the risks that a company may face and be prepared to minimize of the risk. :BIBLIOGRAPHY: Solnik, B. McLeavey, D., 2004. International Investments. 5th Edition. London: Pearson Education. Buckley, A., 2004. Multinational Finance. 5th Edition. London: Pearson Education. Shaprio, Alan C., 2003.Multinational Financial Management. 7th Edition. US: John Wiley Sons, Inc.

The Kite Runner By Marjane Satrapi - 1110 Words

Women in a patriarchal society are oppressed into subordination. Even as global societies grow more progressive, there are still parts of the world where women are stripped of their basic human rights, forcing women to fight for equality. Marjane Satrapi, author of Persepolis, depicts the political turmoil in Iran by including the degrading rights of women. In places where Islamic extremism exists, the strict fundamentalism affect the rights and societal views of women (Bobic et al., 4-8). Khaled Hosseini, author of The Kite Runner, tells the story of a Pashtun boy and the consequences of extremism in Afghanistan, such as racism and sexism. Both Hosseini and Satrapi use the historical backdrop of their work to develop the theme of feminism. Both novels include women developing their own personal views of feminism within their patriarchal society. In Persepolis, by Marjane Satrapi, the protagonist is influenced by the women around her; they help shape her beliefs and individuality as a woman in Iran. When Islamic extremists begin imposing their strict interpretation of the Qur’an to the civilians, the newly implemented Islamic law forces women to dress in traditional attire. In Iran, Marjane Satrapi states that it is â€Å"obligatory to wear the veil at school† (3). Satrapi reveals the submission of women in a male-dominated society, where wearing a veil signifies modesty and piety in the Islamic culture. To Satrapi and other feminists, it is considered dehumanizing, and thoseShow MoreRelatedPersepolis : A Modern Context Of Iranian Life969 Words   |  4 Pagestheir significant focus on family. In Iran, family formed the foundation of Muslim society (Dhami). This focus on family was evident in Persepolis in that the grandmother lived with the family and her words of wisdom influenced Marjane constantly throughout the story. Marjane returned to the oppressiveness of the Regime not because she missed her home, but because she missed the support her family provided her. When she divorced with Reza, her family was fully supporting her decision. Even when thisRead MoreQuote Essay950 Words   |  4 Pages Leslie Igbo Summer Reading Assignment PERSEPOLIS By: Marjane Satrapi Chosen Quote.. â€Å"I really didn’t know what to think about the veil. Deep down I was very religious but as a family we were very modern and Avant-Garde.† Respond and Analyze.. This quote stands out, because it focuses on the character and her personality, which is a young girl who is very passionate about her Read MoreLiterary Criticism : The Free Encyclopedia 7351 Words   |  30 Pagesby Peter Ackroyd (1992)[39] The Gods Laugh on Mondays, by Reza Khoshnazar (1995) About a Boy, by Nick Hornby (1998) The Perks of Being a Wallflower, by Stephen Chbosky (1999)[40] Persepolis, by Marjane Satrapi (2000)[41] 21st century[edit] The Secret Life of Bees, by Sue Monk Kidd (2002)[42] The Kite Runner, by Khaled Hosseini (2003)[43] The Fortress of Solitude, by Jonathan Lethem (2003) [44] Never Let Me Go, by Kazuo Ishiguro (2005)[30] Looking for Alaska, by John Green (2005) Indecision, by Benjamin

An Academic Critique Of A Research Article By Karen L....

This paper is an academic critique of a research article by Karen L. Gischlar and Joanne P. Vesay entitled: Literacy Curricula and Assessment: A Survey of Early Childhood Educators in two States. I was attracted to this article because being an early educator myself, I know how important literacy instructions is in the early years. It intrigued me to read about the types of curricula and assessment used by other educators to assess young children learning. The purpose of the article was to survey early childhood educators regarding their literacy practices and the assessments implemented in their classroom. However, the goal was to determine to what extent preschool teachers addressed literacy skills areas through classroom instructions. (Gischlar Vesay 2014, p. 298). The authors believed that teachers should be using literacy curricula to teach literacy skills and get proper training in how to monitor students’ progress. If such curricula are not being implemented, then expl icit instructions in early literacy instruction should be conducted daily. This paper will provide a critical review of the methods used, the result of the study and the authors discussion of the article. In the article, the authors stress the importance of literacy education in the early years. In fact, it is noted that pre-school years are critical to the development of early literacy skills that will lay the foundation for future reading skills and help present problems from developing (Gischlar

Organizational Culture Important Concept of Culture

Question: Describe about the Organizational Culture for Important Concept of Culture. Answer: Introduction In the paper, the aim is to throw glimpse on the concept of the cultural web. It stands out to be an important concept as it leads to forming connections in between the corporate culture and the strategy. The duo of these two would bring forth success and fortune on the part of the company. With the help of the case study, it would be helpful enough carrying out analysis, such that the changes brought forth could be of great assistance. It is to support the firm attain the pre-determined goals and objectives as well. For this, the culture should be workable enough to encourage and persuade workers to put in efforts and work in the best interests of the company (Greets, 2010). Cultural Web Before moving on to the case analysis, it is very much imperative to understand the concept of a cultural web. In general parlance, the cultural web is the concept used to form a liaison in between the persisting organizational culture and the strategies devised for meeting the target levels. An organization makes perfect use of the Cultural Web to have a look at the present organizational culture. In another way, it sees to it as to how one wants to see the culture, and thirdly to discover the differences between the two. These differences are the possible changes one look forward to achieving the superior culture Using cultural models for changing corporate culture (Anon., 2014). The Cultural web comprises of six important elements that would make the picture clear in front of the company. In addition to this, it would allow the firm to understand the current situations and to make a move ahead. The elements of cultural web prove to be valuable enough in conveying about the changes to be brought forth with respect to its working culture. For doing the same, the objective is to get aware of these six key elements and are discussed below: Using cultural models for changing corporate culture (Anon., 2014). Power Structures: It can be denoted by means of the greatest amount of authority shown with regards to decisions taken, operations performed, and strategic direction given. Stories: It is the way past events are discussed and the way concerning people within the organization talk about the inner and outer aspects. The major part is to what is to be given value and deriving worth for the same Rituals and Routines: Employees behavior that takes place on a daily basis, would lend a hand in getting to know about their receptiveness towards it. It is important enough to gain understanding with the way situations would crop up in the near future. Organizational Structure: In this, the organizational structure is defined to be the one that comes out in the form of the organizational chart. Along with this, it effectively reveals the power and influencing lines and to gain acquaintance of the positive involvements at the part of the human resources. Symbols: These are denoted by means of logos, dress codes, and the behavior carried out by the representatives of the company. Control Systems: At last, these are the systems very much needed in order to assess the effectiveness of the systems used, be it quality, financial systems, and rewards used. These six elements play an important role in allowing and permitting the company to bring forth requisite changes to it. In this way, the best possible moves and initiatives could also be taken up just to dealing with the things in the most effective manner. Moreover, the changes introduced would be welcomed with open arms. Case Analysis Under this part, the analysis would take place for the company Heinz. It goes through significant challenges and looks forward to managing and handling situations with the utmost effectiveness. From now and then, the company has evolved with certain changes that transform the whole picture towards the positive end. It can also be taken in a way that the augmenting profits at the company level are itself communicating about the current situation. Culture in Heinz Australia After joining the company, Widdow served as a Managing Director, makes out that the conditions are really hard to believe. It becomes really hard to understand the actual situation and as to how the running circumstances could be made managed and tackled. At this point, it mainly sees to it that the best possible understanding towards the organizational culture is highly demanded. The key elements that would speak well as to how the changes have evolved from low to high levels are to be encompassed in the discussion carried out. Organizational Structure: With Widdows leadership and supervision, the changes that shape up gives a new manifestation to the working culture. Due to this, the workers are very much apparent about the roles to perform and this helps in contributing to the full extent. At an earlier, the organizational structure was quite intricate in its nature and making things very much difficult.Widdows leadership was highly admirable, as his efforts to introduce changes comes out to be worthwhile enough (Simmonds, 2003). Stories: Formerly, the image and repute of the company were really depressing and discouraging. Employees did not form any kind of connection and make out such stories that used to spoil and defame its image. But, the situation has changed, and the workers are admiring and considering the role played by their leader. Rituals and Routines: Due to complex organizational structure, the workers behave negatively and that results in lower absenteeism, and morale, bringing forth high turnovers, and outrage on the part of the workers. In turn, the changes introduced make workers feel encouraged and happy enough that their behavior changes a lot and is more dutiful and devoted towards their job. Symbols: The symbols can be the dress codes, positive behavior, and the logos engraved over their identity cards. Power Structures: In the company, the power rests in the hand of the leader, and he knows making appropriate use of it. In other words, it can be very well understood that the leader has the potential to reach at better decisions, possessing command over operations carried out, and influential in giving strategic direction as well (McCalman, 2000). Control Systems: The changes introduced in control systems can be very well understood in a way that the company ensures the quality maintained in its working, assessing workers performance and providing with the best reward systems. Additionally, the financial systems are also effective such that the functioning takes place incessantly. These changes are very much auspicious and make the situation better than before. At the part of the company, the workers are encouraged to contribute in its crucial affairs. It provides them with more of amenities and making working culture flexible. On the whole, the workers are made to feel special enough and this happiness can be very well perceived by means of augmenting profit levels. Cultural Web Audit The culture web audit carried out is very much effective to provide details about lacking and deficient areas. It is very much effective in figuring out the differences and also to adopt such ways that could lead to greater growth and progress. Formerly, the companys working environment was pathetic and making workers condition pitiable. The organizational structure was very much complex and that causes disorderliness and indiscipline. The conditions of the workers were so miserable that they do not feel to take initiative for the companys betterment. Low level of involvement in the companys affairs and discouraging working conditions come out to be the most important area to be taken into consideration. The key forces against the change are the employees, board members, and the shareholders as well. Actually, they do not have any hope left for any good thing to take place by means of the change process (Heracleous, 2003). Widdows trust and conviction towards the change are the only reason that turns out to be a forcing agent in bringing forth amendments. In this way, the things demand significant changes in order to experience the most convinced and pleasing experiences. At this point, for and against areas are conceived with broad mindset. It would aim more at ensuring that the conditions would also come out to be of great importance and relevance. The attempts made by Widdow are very much capable inducing the most positive behaviors from the part of the workers only. It mainly aims at helping the business grow and prosper incessantly. Forces play an active role in behaving properly and also to draw in the most optimistic returns out of the same. The change takes place by means of cultural web audit and it has contributed actively to the companys growth and achievement. The performance levels of the employees also gain momentum and that appear to be very much supportive and compassionate in its nature. But, the leader should also be very much careful in possessing continuous watch over its working area to ascertain about its sound position. One has to be very much keen towards changes brought in and need to provide with such a workplace setting that would stimulate and incite workers to act in the best possible interests. Strengths of the New Culture In the respective session, the key aim is to figure out the pros associated with the new organizational culture. One cannot deny the fact that the new culture has contributed effectively and actively towards meeting the destined goals and objectives. It plays a noteworthy role in ensuring about the way workplace conditions are up to the mark and remarkable enough. This has also helped in maintaining better rapport and harmony in between the employers and the employees (Holbeche, 2012). Worker involvement could also be received at the time of reaching important decisions. Control systems become well-defined and that helps in placing power over the workers and supporting them to take a better path. By means of the new culture, the workers show positive behavior and that contribute towards high-performance levels. Moreover, the workers find the company a great and a better place to work in. This is the most necessitated situation and would help the organization draw in the most pleasurable returns. In this way, it adds to great growth and prosperity for the company. The company is able enough to maintain a long-lasting presence at the market level. The best part of the new organizational culture is gaining trust and reliance from the part of the workers. It has to do great with respect to making an organization carry upon its working practices in the most likely manner. In this way, it could be made out effectively stated that the control should also be made formed over weak areas and management of the same should take place in a timely way. Monitoring Aspects of the organization need to be monitored and sustained to ensure that it does not slide back into the old ways of thinking and working. This is the most important area to be considered upon in order to maintain the effectiveness and success on the part of the company. For this, the monitoring and supervision have to be practiced at regular intervals. Employees demands and the business changes are to be studied in the most considerate manner. It is a must from the part of the organization to become aware of their workers expectations and act upon the same. Time to time invites is to be encouraged in order to come across with their issues and problems. Power structures and formal line of authority should also be assessed. In this way, it would be very much clearer as to how the workers are behaving and acting towards the roles assigned to them (Schechner, 2003). Business environment should also be observed on a regular basis. On getting an access to the ineffective areas, it could be modified in the most active manner. Timely accomplishment of the tasks and optimal use of the resources should also be taken into consideration. All these altogether would be contributing more towards prosperity and success. The company Heinz Australia should ponder over having checks and control over these aspects and that too in the most effective way. Recommendations The company Heinz Australia is advised and recommended to understand the value and importance of the change systems. It has to ensure that the perfect blend of an organizational structure and the strategies are made incorporated effectively. Regularly check on working conditions and the environment is highly obligatory. At the same time, the workers should also be inquired about problems faced by them. It is very much essential for the part of the organization to act and behave properly and to reach the most desirable levels. Conclusion At the end, it would be very much necessary and inevitable to form knowledge and acquaintance with the persisting conditions. It chiefly looks upon making sure that the results drawn are of utmost importance. The changes brought forth are to be made conveyed to the stakeholders of the company. Changes are very much needed so as to make better moves towards running conditions. This also allows an organization to adapt as per changing technologies and to make good use of it. The change is a positive aspect and adds more of progress and advancement in its working area. For this, the communication part is to be strong enough such that information passes on actively and effortlessly to the concerning person. Working culture is to be constructive in order to receive the best out of the workers. Not only this, the company should attempt for making it sustained in the most positive manner. In this way, it supports in forming better relationships with the workforces. Moreover, it is surely going to shore up the company maintain its growth and productivity levels. The company would enjoy the reputable presence at the industry level by recording a good number of proceeds. This appears to be the most ideal and ultimate position anticipated and expected by the company. References Greets, F., 2010. Managing Organisational Change. 3rd ed. Australia: VitalBook file. John Wiley Sons. Hendry, C., 2012. Human Resource Management. Milton Park, Abingdon: Routledge. Heracleous, L., 2003. Strategy and Organization: Realizing Strategic Management. Trumpington Street, Cambridge: Cambridge University Press. Holbeche, L., 2012. The High Performance Organization. Corporate Drive, Burlington: Routledge. McCalman, J., 2000. Change Management: A Guide to Effective Implementation. Thousand Oaks: SAGE. Schechner, R., 2003. Performance Theory. New Fetter Lane: Routledge. Simmonds, D., 2003. Designing and Delivering Training. Camp Road: CIPD Publishing. Using cultural models for changing corporate culture, 2014. [online] Avaialbe at: https://www.changefactory.com.au/our-thinking/articles/using-cultural-models-for-changing-corporate-culture/ [Accessed 18 September 2016].

Everyones day starts in the morning Essay Example For Students

Everyones day starts in the morning Essay There are two significant differences between working in the morning and in the evening, such as, changes of mood and behavior and changes in diet. The first difference of working in the morning and evening is the changes in persons mood and behavior. Unlike evening workers, morning workers are more energetic and fresh. Minded. Morning workers work more efficiently than evening workers because they have gotten enough sleep at night, so their body has recharged for the next morning. Moreover, working at sunrise helps the humans body to be productive. However, evening workers sometimes become lazy to do heir job properly. Sometimes, they cant focus on what they are doing because of irregular sleeping hours. Moreover, not having regular hours of sleep can cause a person to become depressed and mentally unstable. The second difference is the changes in persons diet, Unlike the evening workers, morning workers usually have their breakfast bettor they start working. Then, they usually get hungry at noon because they have already burned the energy which they gathered from breakfast. So, thats how their diets are regular. On the contrary, evening workers have time just to do their lunch. For instance, if a person is working from 7 pm to 6 am, he/she will sleep right after his/her working shift. Then, after waking up at noon, they get hungry and eat lunch. So, thats how not having a breakfast or dinner will disrupt their diet. Disrupting a workers diet can cause them many unintended consequences. In conclusion, it is really difficult to change a persons biological clock. There are many negative results Of working in the evening. In addition, irregular working schedule make the day-etc:-day activities tougher to complete. A person cant get enough time to do his/her day-to-day activities. However, morning workers have the best productivity to do their job. Getting enough sleep at night and working at sunrise are two factors that give energy to morning workers. Changes in a persons mood and behavior and changes in a persons diet are two major differences of working in the morning and evening.