Discuss the flexible price monetary model of exchange rate

Essays on Discuss the flexible price monetary model of exchange rate determination and its ability to explain foreign exchange movements. How realistic is the assumption that prices are fully flexible Does this model perform well when tested empirically Essay Finance and accounting Flexible price monetary model as d by Frenkel (1979) works with assumption that prices are all flexible. The supply curve is always vertical and a shift in demand has no effect on the output. Output level cannot be adjusted up or down because it is determined by side factors of supply. Effects on foreign exchange are determined using the monetary model (Riad 2008).the government suggests the use of monetary policy and fiscal to ensure stability of exchange rate and price. Monetary model assumes equilibrium. The flexible model of price monetary assumes that the capital is mobile that is foreign and domestic bonds are considered perfect substitutes. In this regard there are negligible transaction costs, markets are very competitive and all investors hold expectations of exchange rate with a lot of certainty (Friedman Woodford 2010). In the monetary model, all the prices including the wages are considered to be flexible. The economic agents are also rational. In this model capital is mobile, PPP will hold continuously and supply of money is normally exogenous. The attention is given to the money market because there is no independent role by bonds in exchange rate determination. An increase in the domestic income will automatically lead to increase in demand for money whereas an increase in domestic interest leads to depreciation of domestic currency. The monetary assumes a stable foreign and domestic demand functions for money and excellent capital mobility (Craigwell 2009). Flexible model assumes the parity of purchasing power will always hold. The exchange rate is therefore considered to be constant. This model assumes that an increase in the output of a given country will result in depreciation of the currency. This is because real income growth increases money demand in order to finance bigger value of all transactions. According to the flexible model, increase in domestic interest will cause a decrease in the demand for the domestic money hence causing depreciation of the currency. This means that if the increase rate is caused by tightness in monetary, it will lead to home currency appreciation or if caused by inflation the result will be depreciation of home currency. Naturally monetary model states that exchange rate is always determined by three variables which are relative interest rate, money supply and a relative national output (Zhang 2007). An example of exchange rates is using two different countries that produce the same kind of goods. Wealth constraint for all domestic residents: W=M+V where M stands for the money stock and B represents bonds. The bonds are assumed to be perfect substitutes. Equilibrium in money market suggests equilibrium also in bond markets. An exchange rate is a price or prices. An exchange rate between any two currencies, according to flexible model is the ratio of the currency’s value determined by money supply basis and demand positions for money of the two given countries. An increase in the rates that are prevailing in the market will lead to a rise in foreign exchange prices. In the flexible model prices are considered to be flexible because they normally adjust very fast in all money markets. In this model domestic money is only demanded by domestic people while foreign money by foreign residents only. The exchange rate will adjust so that the level of price equilibrates supply and demand for money hence the equilibrium of money market. Demand for the money will depend positively on the income and depend negatively on nominal interest rate level. According to the parity of purchasing power, exchanged rate is a s a result of dividing home country price level with the one from foreign country. That is P=eP* , where P represents level of domestic price and P* the level of foreign price whereas e is the exchange rate (Watch 2010). The equation of money demand is shown as Md=kPy and here k is usually constant and y represents level of real income. Flexible exchange rates always protect nations from the unexpected foreign economic changes. For example they may protect a country from high foreign inflation rates. In the flexible approach, increase in money leads to higher levels of price and hence domestic currency depreciation. When the money supply is less than the domestic output there will be a lot of demand for money balances which will result to domestic currency appreciation. When there is interest rate rise, there will be less demand for the money and therefore the domestic currency will depreciate. Any increase in the supply of money will raise the level of domestic price. Dornbusch (1976) feels that the assumption of flexible price that PPP continuously holds and that real rate of exchange doesn’t change is very unrealistic (SHARAN 2012). In real life, the exchange rate has changed in the short run at some point in time. However nominal exchange rate variability has been greater. Whenever there is an increase in real domestic income, the agents are likely to reduce their expenditure on services and goods so as to increase money balances (Zhang S 2005). Equilibrium will then be restored through the parity purchasing power and appreciation of domestic currency. A decline in real domestic income will cause the opposite process of equilibrium. The assumption that prices are flexible is somewhat not realistic. This is because when exchange rates are flexible they will influence a nation to determine monetary policies on their own (Marthinsen 2014). The presence of price flexibility cannot alter any standard prescriptions for money policy in an open economy. It implies that the optimal rate of exchange rule in a price flexibility environment acts to minimize degree of flexibility of price (DOR 2012). The reason is price flexibility is expensive. In addition flexible model assumes that foreign and domestic goods are great substitutes and hence no barriers international trading of goods. For this reason assumption of flexibility of prices for the goods is tantamount to the conclusion that PPP holds all the time (Butgereit 2013) The model has been put into empirical testing. However, the results received have greatly been disappointing. During high inflation periods the models works well because the supply of money changes tend to influence prices and exchange rates (Apte 2008). The parity of purchasing power is an important aspect in the model and as noted it doesn’t hold well empirically mostly in the short run. The model has poorly performed when tested empirically. Flexible model can also be tested in the short as well as long run. One of the tests for flexible model was done by Frenkel over the high inflation rate in Germany. In all monetary models coefficients are said to be insignificant or that there are wrong signs. An example of the poor performance is if there could have been omitted variables while testing. Boughton (1987) also states that the variables explain a small portion of the changes in exchange rate which means that the rate movements can be responses to disturbances that are unf oreseen. Rogoff and Meese used the empirical method of parameters of the exchange rate models. They used â€Å"random walk† model assuming the exchange rates are always driven by random shocks that are unpredictable, this is so that a guess about exchange rate tomorrow is only today’s rate of exchange. They found that the exchange rate would not outperform the random walk (Nakaruma 2013). An empirical test was used in Taiwan to show the validity of PPP on Taiwan and other industrial countries. The data used was bilateral exchange rates in Taiwan relative to US, France and other countries and the price index of consumers in each of these countries. There is difficulty in choosing which index to use for PPP calculations. Therefore this leads to poor performance of the model. The monetary model has performed very poorly on sample forecasts and also on estimation. In the flexible model the money supply coefficient is always positive and also equal to one on money neutrality. When t he sample period for empirical testing was extended from 1978 onwards, the regressions produced disappointing results. The results by Frankel (1984), Dornbusch (1980) and Taylor (1992) yielded wrongly and hence the regressions produced poor performance on the samples (Cao, Ying 2011). It is therefore easier to conclude that the flexible model does not perform well when it is tested empirically. Bibliography Apte. 2008. International Finance. California: Tata McGraw-Hill Education. Butgereit, F. 2010. Exchange rate determination puzzle long run behavior and short run dynamics. Hamburg: Hamburg Diplomica-Verl. Cao Yong, O. W. 2011, June 25. PPP and the Monetary Model of Exchange-Rate ... - ç™ ¾Ã¥ º ¦Ã¦â€"‡å ºâ€œ. Retrieved March 4, 2015, from wenku.baidu.com/view/cc9ac6140b4e767f5acfcedf.htm Craigwell, R. ‎2009. Exchange Rate Determination in Jamaica - UWI St. Augustin. Retrieved March 4, 2015, from https://sta.uwi.edu/conferences/.../EXCHANGE_RATE_IN_JAMAICA.p... DOR, E. 2012. how do exchange rates move following an expansionary ... Retrieved March 4, 2015, from www.researchgate.net/...RATES...MONETARY.../0f3175302bfbbee3ea0... Friedman, B. M., Woodford, M. 2010. Handbook of Monetary Economics, Volume 3B. Burlington: Elsevier Science. Marthinsen, J. 2014. Managing in a Global Economy: Demystifying International Macroeconomics. Berlin: Cengage Learning. Nakamura, E. 2013, January 21. Price Rigidity: Microeconomic Evidence and ... Retrieved March 4, 2015, from www.columbia.edu/~en2198/papers/psurvey.pdf Riad, N. S. 2008. Exchange Rate Misalignment in Egypt. Chicago: ProQuest. SHARAN, V. 2012. INTERNATIONAL FINANCIAL MANAGEMENT. India: PHI Learning Pvt. Ltd. watch, E. 2010, November 23. Retrieved March 4, 2015, from www.economywatch.com/exchange-rate/monetary-approach.html Zhang, b. S. 2007. The Monetary Exchange Rate Model - Journal of Economic . Retrieved March 4, 2015, from www.e-jei.org/upload/N4M17605Q4075475.pdf Zhang, S. 2005. cointegration in a monetary model of exchange ... - ASBBS. Retrieved March 4, 2015, from www.asbbs.org/files/2005/PDF/Zhang.pdf

Discussing Foot Reflexology Among Elderly Health And Social Care Essay Free Essays

This chapter deals with the treatment of the informations analyzed based on the aim and hypothesis of the survey. The job stated is â€Å" An experimental survey to measure the effectivity of foot reflexology among aged people † . The treatment was based on the aims of the survey and the hypothesis specified in the survey. We will write a custom essay sample on Discussing Foot Reflexology Among Elderly Health And Social Care Essay or any similar topic only for you Order Now With regard of demographic features of the sample in of experimental group, the bulk 10 ( 33.33 % ) of aged people belong to the age group of 66-70yrs and 17 ( 56.67 % ) of the aged people were male,8 ( 26.67 % ) of them were illiterate, 11 ( 36.67 % ) of them were from Christians faith, 9 ( 30 % ) of them were divorced,12 ( 40 % ) of them were sedentary workers, 9 ( 30 % ) of them are gaining less than 1000 rupees and 3000-5000 rupees per month. There by 12 ( 40 % ) were populating in the urban country. With respect of demographic features of the sample in control group, the bulk 9 ( 30 % ) of the aged people were from the age of 71-75yrs, 16 ( 53.33 % ) of the aged people were male 11 ( 36.66 % ) of them were completed their, primary instruction. 11 ( 36.67 % ) of them were from Hindu religion,12 ( 40 % ) of them were married,13 ( 43.33 % ) of them were heavy workers, 9 ( 30 % ) of them are gaining less than 1000 rupees per month and 14 ( 46.67 % ) were populating in the semi urban country. The first aim was to measure and compare the pre and station trial degree of psychological well being among experimental group. The analysis of pre intercession degree of psychological well being of experimental group revealed that the bulk 15 ( 50 % ) were non good. The analysis of station intercession degree of psychological well being of experimental group revealed that the bulk 20 ( 66.66 % ) of them sing moderate degree of psychological well being. The experimental group showed a average value of 3.4 with standard divergence of 0.66 in pre assessment degree and a mean of 1.83 with standard divergence of 0.67 in station appraisal degree. The deliberate ‘t ‘ value was 13.7 which showed a important difference between the pre and station trial degree of psychological well being among experimental group of aged at P lt ; 0.05 degree. Hence the research hypothesis stated H1 denotes that †there is a important difference in pre and station trial degree of psychological well being among aged people of experimental group † was retained at P lt ; 0.05 degree. Kim, Hyang A ; Hye Gyung ( 2002 ) assessed the effects of pes Reflex Therapy on Health Status of Institutionalized seniors utilizing a quasi-experimental design. Pre and post-experiment steps were compared. Institutional seniors were selected as the experimental group and 15 as the control group. Foot automatic therapy was performed to the pess of seniors in the experimental group for 30 proceedingss twice a hebdomad for a month a sum of 8 times. The effects of pes reflexology on physical wellness such as systolic/diastolic force per unit area, pulse rate, respiration rate, musculus endurance, legerity, and psychological wellness such as perceptual experience of wellness position, perceptual experience of hurting, sleep form and religious wellness such as quality of life of institutionalised seniors were evaluated. The informations were analyzed utilizing SPSS + Personal computer 10.1for window with frequences, agencies and standard divergences, Chi-square trial and t-test. The surv ey provided support that pes automatic therapy for seniors promotes positive physiological responses, psychological wellness and quality of life. From this consequence it can be concluded that pes automatic therapy is effectual as a intercession for wellness publicity in seniors. The 2nd aim was to measure and compare the pre and station trial degree of psychological well being of the aged people among control group. The analysis of pre intercession degree of psychological well being revealed that the bulk of aged people in control group holding 15 ( 50 % ) were mildly good. The analysis of station intercession degree of psychological well being revealed that the bulk of 16 ( 53.33 % ) of the aged people in control group were mildly good. The control group showed a average value 3.23 with a standard divergence of 0.67 in pre assessment degree and a average value of 3.46 with a standard divergence of 0.66 in station appraisal degree. The calculated’t ‘ value was 0.92 which showed that there is no important difference in the pre and station assessment degree of psychological well being in control group. Hence the research hypothesis stated H2 denotes that there is a important difference between the pre trial and station trial degree of psychological wellbeing among aged in control group was rejected at P lt ; 0.05 degree. The 3rd aim was to compare the pre trial degree of psychological well being between experimental and control group of aged people. The experimental group showed a average value of 3.4 with standard divergence of 0.66 in pre assessment degree and the control group showed a average value 3.23 with a standard divergence of 0.67 in pre assessment degree. The deliberate ‘t ‘ value was 0.67 which showed that there was a no important difference between the pre and station trial degree of psychological well being of the experimental and control group at P lt ; 0.05 degree. Hence the research hypothesis stated earlier that H3 denotes â€Å" there is a important difference between pre trial degree of psychological well being among experimental and control group of aged people was rejected at P lt ; 0.05 † degree. The 4th aim was to compare the station trial degree of psychological well being between experimental and control group of aged people. The experimental group showed a mean of 1.83 with standard divergence of 0.67 in station appraisal degree and the control group showed a average value of 3.46 with a standard divergence of 0.66 in station appraisal degree. The calculated’t ‘ value was 7.98 which showed a important difference on the station trial degree of psychological well being between experimental and control group. This revealed that the degree of psychological well being in station trial degree in experimental group is enhanced than the control group. Hence the research hypothesis stated earlier that H4 denotes â€Å" there is a important difference between station trial degrees of psychological well being among experimental and control group of aged people was retained at P lt ; 0.05 degree. Williamson, White, Hart A ; Ernst ( 2004 ) did a randomized controlled test of reflexology for menopausal symptoms for Seventy-six adult females, aged between 45 and 60 old ages by utilizing the Women ‘s Health Questionnaire ( WHQ ) , the primary steps being the bomber scores for anxiousness and depression. Severity ( ocular parallel graduated table, VAS ) and frequence of flowers and dark workout suits Women were randomized to have nine Sessionss of either reflexology or nonspecific pes massage ( control ) by four qualified reflexologists. Mean ( SD ) scores for anxiousness fell from 0.43 ( 0.29 ) to 0.22 ( 0.25 ) in the reflexology group and from 0.37 ( 0.27 ) to 0.27 ( 0.29 ) in the control group over the class of intervention. Mean ( SD ) scores for depression fell from 0.37 ( 0.25 ) to 0.20 ( 0.24 ) in the reflexology group and from 0.36 ( 0.23 ) to 0.20 ( 0.21 ) in the control ( foot massage ) group over the same period. For both tonss there was strong grounds of a clip consequence ( P lt ; 0.001 ) but no grounds of a time-group interaction ( P gt ; 0.2 ) .The research worker concluded that pes reflexology was effectual in cut downing the menopausal symptoms like depression and anxiousness. The 5th aim was to tie in the pre trial degree of psychological well being among experimental group and control group of aged people with selected demographic variables: Association of pre assessment degree of psychological well being with demographic variables done utilizing chi-square trial. Data findings revealed that there was statistically important association in the pre trial degrees of psychological well being in experimental group merely with their age, educational position and faith. And besides the informations findings revealed that there was important association in the pre trial degrees of psychological well being of the control group merely with their age. Hence the research hypothesis H5 stated denotes that â€Å" there is a important association of pre trial degree of psychological wellbeing among experimental group and control group of elderly selected demographic variables was partly retained at P lt ; 0.05 degree. The 6th aim was to tie in the station trial degree of psychological well being among experimental group and control group of aged people with selected demographic variables: Association of station assessment degree of psychological well being with demographic variables done utilizing chi-square trial. Data findings revealed that there was a important association in the station trial degrees of psychological well being of the experimental group with their matrimonial position. And besides the informations findings revealed that there was no statistically important association of station assessment degree of psychological well being in control group with their selected demographic variables. Hence the research hypothesis H6 stated denotes â€Å" there is a important association of station trial degree of psychological wellbeing among experimental group and control group of elderly selected demographic variables at was denied P lt ; 0.05 degree. How to cite Discussing Foot Reflexology Among Elderly Health And Social Care Essay, Essay examples

Lyric Poetry-The Courage My Mother Had Essays - Lyric Poetry, Poetry

Lyric Poetry-The Courage My Mother Had The definition of lyric poetry- relating to a category of poetry that expresses subjective thoughts and feelings. The first paragraph explains the basic components of a lyric poem, which mainly consists of the poet's strong emotions in the poem. The second term tells the poetic terms and devices and describes how they play a role in lyric poetry. The final paragraph explains how I fit into the poem. ?The Courage That My Mother Had? falls into the category of lyric poetry because of the strong emotions and poetic devices located throughout the poem. A lyric poem is created with two basic elements in mind- a subject, and the poets feeling towards that subject. For example, in ?The Courage That My Mother Had? the poet expressed many strong feeling through the girl at her mother and her mothers courage. She is proud of her mother, yet she almost seems envious of her courage. She also seems a little angry that her mother has so much courage and she has so little. So the feelings in this poem are a main regard at recognizing the poem as a lyric. The poetic devices play a key role in describing the poem as a lyric because it can emphasize the feelings throughout the poem. For example, Millay used metaphors describing the mother's courage as granite. Granite, being an extremely tough stone, signified that the mother's courage was also incredibly tough and hard to break. Here, the poetic terms also describe the poem as a lyric. I believe that I would like to be someone in life. I would want to better myself by adding a part or trait of someone else. I think it is invaluable for a person to be able to incorporate others. Poetry Essays

Walmart Fighting World Hunger †How it affects Sales Essays

Walmart Fighting World Hunger – How it affects Sales Essays Walmart Fighting World Hunger – How it affects Sales Essay Walmart Fighting World Hunger – How it affects Sales Essay Essay Topic: Nashville Walmart Fighting World Hunger – How it affects Sales Name: Course: Date: Wal-Mart Fighting World Hunger – How it affects Sales Hunger has continued to be a major threat in most world countries, affecting millions of people especially in America. Nashville Wal-Mart market manager, Wade Hunt wants to make a big change to solve the issue of hunger. On a daily basis, many families countrywide have to deal with the constant task of fending for themselves and their loved ones. Indeed, the USDA reported that during the course of the year, almost sixteen percent of the population was unaware of the next source of their meal. This takes a toll on all members of the nation, with millions of people left at the brink of despair every day. This includes both children and senior citizens who are the most vulnerable members of the society. This is a major concern and Wal-Mart is inimitably positioned to make a significant impact, by working with nonprofit associates, societies and its own clientele in order to alleviate hunger in the nation. â€Å"Fighting Hunger Together† initiative was launched in 2010 by Wal-Mart and Wal-Mart Foundation. It committed a $2 billion cash and in kind kitty, through to 2015, to assist in stamping out hunger across the nation. This scheme allows a room for Walmart’s expansion and leverages his magnitude and assets to offer wholesome provisions and enable the Wal-Mart Foundation to award subsidy to nonprofits that aids to solve the great issue. Donations in form of cash, mobile pantries, food, refrigerated trucks and other forms of resources are bringing a great change in the lives of many Americans. To date, the initiative has provided more that $122 million donations and 594 million pounds of provisions to counties across the country. By the end of 2015, the initiative is expected to have achieved various goals. Firstly, the initiative will have contributed in excess of 1.1 pounds of food from Wal-Mart stores, Sam’s club location and major distribution centers valued at approximately $1.75 billion. This would highly boost sales in the stores because the products would be in high demand. The Wal-Mart stores will highly demand the hunger fighting tools, mainly food and other resources from the suppliers from the agricultural sectors, which would highly boost sales in all the affected sectors and parties involved. The initiative will also honor $250 million in funding to the benefit of hunger relief associations in all levels countrywide, thus being charitable to the society. Further, it would also mobilize Wal-Mart Associates and customers to work together in the fight against hunger in America. This would create awareness among people across the country and would sensitize the people on the methods ways to curb hunger and have a long lasting solution to the problem in America. Further, the initiative aims to collaborate with the government, other foundations and corporations and food manufacturers, to better understand and eliminate hunger in America. Through the government support, the initiative will help to create awareness at all levels on the measures required in the plan to alleviate hunger in the nation. The food manufacturers will also be armed in order to supply enough food and other products in the hunger stricken areas in America. Other foundations and corporations will help to secure and provide grants to eradicate hunger in the country and act as avenues that will enable the initiative reach the affected people and areas. In the fight against hunger, the government, food manufacturers and other foundations should cooperate and have a common goal to eliminate hunger.

Graduating College with Honors Benefits and Subtleties

Graduating College with Honors Benefits and Subtleties You have probably seen movie scenes with college students wearing honors regalia, and the whole audience applauding them. Have you ever imagined yourself in shoes of such a student? Would you like to know how your effort can be rewarded after graduation? In this article, we will try to understand what graduating with honors means and what the benefits of it are. What Is All the Fuss About? There are two types of students – the first one just tries to survive through college and get a diploma, the other is all about different programs, opportunities, and honors. It doesnt matter which you relate, as the following information will still be useful to you. So, almost every college has a few types of honors that students can obtain – Latin honors, English honors and Organization honors (be sure to check out which your learning institution offers). Every high school and college establishes certain rules about these honors and the criteria that you need to meet in order to become an honored scholar. Latin honors are: Cum Laude – as for Latin â€Å"With Praise,† typically a student with a 3.5 GPA. Magna Cum Laude – as for Latin â€Å"With Great Honor,† a 3.7 GPA. Summa Cum Laude – â€Å"With Highest Honor† is one of the highest honors a student can get which requires at least a 3.9 GPA. Such honors commonly imply receiving an honor cord (black, silver and golden respectively or the colors that a learning institution chooses) during the graduation ceremony. The fact of getting such an honor is indicated in your transcript. Check out the simple tips for you on how to become a top student without struggling. English honors can be received by the academic department which reviews seniors each year to pick the most deserving ones based on the grades in their major or other qualities. They can also provide you with a recommendation in addition to the honor. Organization honors are given by clubs and organizations to the most contributive students. There are various chapters of the National Honor Society in different learning institutions which offer special benefits for their members, such as help with a career start, discounts, tours, and activities. What Are the Benefits of Graduating With Honors? When it comes to the effort put in the studying process, one can reasonably ask â€Å"Will my effort be rewarded? Is studying  hard worth it?† The reality of the modern world is that no one can tell you for sure if your future employer will be looking at your GPA. There are a lot of vacancies that value experience or your communication skills more than your grades. Of course, there might be a chance that honors will affect the final decision if you and another candidate have pretty similar resumes and experience. Then, probably, the decision will be made based on the smallest advantages. So, here are the five benefits that are characteristic for graduation with honors: The possibility that it will be considered as an advantage when applying for a job. So, when a recruiter is looking through a resume, he or she might find that candidates are almost equally good and suitable for a particular job. If you provide an excellent resume and dont mess up your interview, the fact that you graduate cum laude or with other honors will increase your chances of getting the job. This is a little extra for your diploma. There is nothing bad about having some extra touch on your diploma. If you have such an opportunity, our advice would be to take it and dont bother about the efficiency of the effort you put in your studies. A special treatment. Of course, honored students have certain benefits within their learning institution or when deciding to continue their careers in academic circles. Such benefits might be - an opportunity to travel abroad for academic studying, honors program, research grants, club membership, etc. An extra thing to be proud of. When reaching another step in your life or having another accomplishment, you should think not about the output but about the value of it for yourself. If you know that you will be proud of yourself receiving a cord at the ceremony, why worrying about whether your choice was right? Merit-based scholarships for honored high school graduates. This is the main reason why high school students try so hard to stand out from the crowd and obtain honor when they graduate school. Receiving a financial award is definitely worth trying and is one of the main benefits of graduating from high school with honors. You might also find some information about graduating without debt useful. So, as you can see, there are some obvious benefits that every honored student can count on. However, if you are graduating without honors, it doesnt mean that you are somehow worse than honored students or that your resume will value less. Its more about the type of person you are than about wearing an honored cord at the graduation ceremony. Check out some of our tips that will help you to make your graduation unforgettable. Common Questions About Graduating With Honors What percent of college students graduate with honors? If taking Harward as an example, 2% of students receive summa cum laude, less than 2% get magna cum laude, and about 4% graduate with cum laude honors. In the undergraduate colleges and schools this percentage is higher – 5% for summa cum laude, 15% for magna cum laude and 30% for cum laude. How to graduate with honors in high school or college? The main factor of obtaining an honor is getting high grades. But you can also be considered as a candidate for the honor for: Your participation in various activities Club membership Outstanding research programs Significant accomplishments in sports or studying So, these were the main benefits and facts about graduating with honors. We hope that you found this information useful, and wish you good luck with your studies.

Change Work Diversity Essay Example | Topics and Well Written Essays - 2000 words

Change Work Diversity - Essay Example An organization could be structured to make sure that each department runs autonomously, but also collaborates with others to achieve its objectives. The structural breakdown in an organization is essential in ensuring accountability of each department so that the areas of weakness could be detected and corrected early. This is important for the growth and development of the organization. Sometimes, various departments may initiate competition aimed at increasing the overall productivity in the organization. In such scenario, none of the departments would lag behind in adopting progressive approaches to develop the respective section (Bartlett & Beamish 2011, p.74). One could understand the kind of interdepartmental relationships that the organization has. For instance, the human resource, finance and production departments are very critical to the organization and have to work closely to make sure that the company achieves its objectives. Moreover, they have to relate to other depar tments so that the production system does not halt. The procurement department also works closely with the production and export counterparts to harmonize the production system. On the other hand, the IT department also works closely with that of training, research and development to increase innovation and improve efficiency. Finally, all the departments have to coordinate with security docket to ensure that the operation is not threatened from external aggression and internal conflict. Implementing a Resource Accountability Matrix (RAM/RACI) In project management, resource accountability matrix is a way of ensuring transparency in implementing the project. Accountability reduces the amount of resources being wastage because the managers would utilize the available materials prudently. It shows commitment of the managers as they implement the project and it outlines the materials to be used (Hochschild 1983, p.64). This makes such information available for the people affected by th e project. The matrix includes a number of variables, which have to be applied in project management. For instance, the performance data during the project’s implantation is crucial when analyzing and presenting the achievements and steps made by the implementers. Similarly, project allocations are equally important when evaluating resource accountability so that the financiers might consider extending the aid or intervention. In order to ensure accountability, awarded amounts for each program from resource acquisition to its completion must be documented. This includes the cost of labor, procurement of materials and transportation cost. The contract period should be clear to facilitate planning and accountability for the available resources. This is significant because it facilitates the distribution of available fund equally during the project. Mostly, projects depend on the available funds to finance its projections, depending on the period it will last. Moreover, projects that cover large area are difficult to manage if the implementers are not conversant with the program units. Each unit must be accounted for, including its budget, accessibility and the kind of activity to be carried out there. Resource accountability matrix encompasses the management of the project materials and funds to ensure its successful completion (Bateman & Snell 2010, p.112). Analysis of the British Airways Change Management Plan In making sure that the British Airways achieves its change management plans, it has to consider the

Open Topic under Composite Materials Term Paper

Open Topic under Composite Materials - Term Paper Example As described in Wikipedia, there are two main kinds of wind turbines one is Horizontal Axis Wind Turbine and second is Vertical Axis Wind Turbine (1). However, Horizontal axis wind turbines (HAWT) are the most widely used design for commercial purposes. Earlier standard parts and components were used for manufacturing of turbines; however, with advancement in technology, specialized materials and parts started to be designed for turbines introducing alternate solutions for manufacturing (Eker, Akdogan, and Vardar 2917). UTILIZATION OF COMPOSITE MATERIALS IN WIND TURBINES Two or more materials are arranged with each other with a specific medium in between them to form a composite material. The fiber material is usually harder and stronger than the binding medium (matrix) being used. This not only rearranges structural and physical properties like rigidity, toughness and corrosion but also unlocks new dimensions to electrical, thermal and environmental properties of materials forming a composite. The aim of modern research is to reduce the cost, improve performance and impact resistance of the composite materials for their better application in a wide range of fields. These discussed significant features of composite materials have made these future materials for wind turbines (Eker, Akdogan, and Vardar 2917). In general, metallic, organic and inorganic materials called matrix, fibers, particulates, stamps and layers having limited geometry constitute composite materials. The binding medium, matrix, creates a phase impact by producing distribution of other material structures in its own structure. This brings changes to overall physical, mechanical and chemical properties of the composite materials. These materials fibers, matrix and reinforcements are chemically inert and dissolved among each other. It is pertinent to note that in metallic composites even a small amount of dissolution may affect the overall properties of the material (Eker, Akdogan, and Vardar 2 918). Purpose of using composite material in turbine blades is to exploit one or more of the physical, mechanical and other properties of materials forming the composite. To achieve this, numbers of methods are used but the principle is same as to improve weak properties of the materials in composite to achieve a good performance turbine blade. WIND ENERGY A convertor is the main component that is required to convert the kinetic energy of motor due to blade rotation into electrical or heart energy, thus producing a power given by following equation P = Av3 where ? = Aerodynamic efficiency constant ? = Density of air A = Area of tubrine-plane v = Wind velocity The two or more blades are installed on central part (disc) of turbine called rotor to form a wind turbine which is rotated by action of wind on turbine blades (Brondsted, Lilholt, and Lystrup 506). Wind turbines usually consist of two to three large blades made of wood, plexiglass or a composite material. The basic design pri nciple encompassing the wind turbines is that of an aero engine turbine or air plane wing where lift is used to make use of energy. Complete turbine assembly consisting of two or more blades is installed in vertical plane on horizontal axis into wind. In a similar fashion, wind energy is captured using same basic design principle. Stall and pitch regulations are used to control the speed and power of