Social Support Networks Lowering The Risk For Depression

Social Support Networks Lowering the Risk for Depression in Young Mothers Introduction Young mothers, those under the age of 25, are a special group of women. They can be wonderful parents and love their children as much as older mothers who are more prepared for their children, however younger mothers can have higher risks for some issues such as depression. There are some ways that can help lower these risks and these include increasing social support networks for young mothers. The Aggregate The aggregate chosen for this paper is that of young mothers. For the purpose of this paper young mothers will constitute any mother under the age of 25. The aggregate of young mothers can be linked to chapter 15, maternal and child health from Community Health Nursing by Stamler and Yiu (2012). In this group of women some may be married, some single, some have higher education, and some are high school dropouts, but they all are under the age of 25 who have one or more children. The Issue Affecting The Aggregate One issue that is a concern for young mothers is a lack of social support leading to an increased risk for depression. The risk of depression for a young mother is higher than that of the risk for older mothers to develop depression (Lanzi, Bert, Jacobs, 2009). The risk for depression is a health issue as depression lowers the mother’s warmth and sensitivity towards her child, which links to poorer behavior in the infant, and also links to the mothers isolating themselvesShow MoreRelatedThis Essay Will Discuss The Impacts Of Social And Environmental1638 Words   |  7 Pagesimpacts of social and environmental determinants of health on the well-being of an older person named Bill. Per The Ministry of Health (2016), The Healthy Aging Strategy takes a life-course approach that ultimately seeks to improve the health and well-being for all older people. Bill lives in a rest-home, which as an environmental determinant, positively affects his well-being. 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Charles Babbage, A Brilliant And Well Educated Man

Charles Babbage was a brilliant and well educated man. His mother, Plumleigh Babbage gave birth to him in 1791 A.D. His father’s name was Benjamin Babbage. He was one of four children. His father was a banking partner of founding Praed’s Co. in London. Benjamin was a rich man, so he and his wife had big plans for Charles to attend many good schools; but when he was around the age of eight, he had to move to a country school in order to recover from a life threatening fever. He had an unstable and delicate health status for most of his early life, which kept him from going to the schools his parents wanted him to go to. He relied on private lessons and teachings for most of his childhood. He attended two different colleges as well. First, he went to Trinity College in Cambridge but wasn’t pleased with the math program there. So, he then attended Peterhouse, in Cambridge. He was the best mathematician at Peterhouse. He graduated from Peterhouse but didn’t r eceive an honorary degree. He wasn’t successful when he first graduated. He did some lectures on astronomy every now and then; And eventually helped to establish the Astronomical Society. A little later he received his honorary degree without question. After receiving his honorary degree, he married Georgiana Whitmore. They had eight children together. Five of their children never lived to become adults. In 1822, Charles designed the plan and idea of a machine that he called the â€Å"difference machine†. TheShow MoreRelatedImportant Thinkers of Management Their Contribution2587 Words   |  11 Pagesresources† (Cascio). 7-S framework created by McKinsey amp; Company distinguishes seven components in a company’s architecture: strategy, structure, systems, staff, style, skills and shared values. PF Drucker had remarked that â€Å"man, of all the resources available to man, can grow and develop purpose of human resource management is to improve the contribution made by people to organizations, (Davis) through effective and efficient use of resources HRM is, to some extent, concerned with any Read MoreMGT1FOM Key Management Theorists26579 Words   |  107 PagesWiley Sons, Hoboken, NJ. Contents Babbage, Charles (1792–1871) 2 Barnard, Chester Irving (1886–1961) 4 Fayol, Jules Henri (1841–1925) 9 Follett, Mary Parker (1868–1933) 18 Lewin, Kurt T. (1890–1947) 24 Mayo, George Elton (1880–1949) 25 McCallum, Daniel Craig (1815–1878) 29 Poor, Henry Varnum (1812–1905) 29 Taylor, Frederick Winslow (1856–1915) 31 Weber, Max (1864–1920) 36 1 Babbage, Charles (1792–1871) (pp.66-69) To call Charles Babbage an irascible genius is to pay him the

Management of Chronic Disease in Children â€Myassignmenthelp.Com

Question: Discuss about theManagement of Chronic Disease in Children. Answer: Introduction Type 1 diabetes is chronic illness under which the pancreatic beta cells stop making insulin and are destroyed by the immune system. This kind of diabetes is considered as insulin dependent and prevails in people below age of 30 years. However, this disease can occur at any age. This essay is based on the case study of Lachlan, who is a 14 years old boy and studies in secondary school. Type 1 diabetes was diagnosed in the case of Lachlan at the age of 9 years. Lachlan often misses his lunch in school, but his disease has been well managed, which was followed by the regime of insulin. According to Lachlan his parents have good knowledge of the disease and care required. Lachlan has many developmental issues that could hinder his access to good health, he has lack of peer support and due to seeking independence, self-management is important. This essay will discuss the key issues associate with Lachlan and his family, and will develop the interventions to mange his chronic condition. A ccording to his age there could be many developmental issues and challenges, thus essay will also discuss those challenges and will develop communication strategies for him. This essay will use two models that are family centered approach and child-centered approach for managing the chronic illness. Key Issues Related to the Case Study of Lachlan The key issues is managing the chronic illness can be varied according to the age and condition of the patient. Lachlan is a 14 years old boy and according to his developmental stage, such children seek more independence and want to come out from the dependence to independence. The children between the ages of 12-15 years are considered as being in their early adolescent period. According to the development stage that child requires more independency and start managing with the body changes (Guthrie et al, 2003). This is the stage when children develop a strong sense of self identity. They start understanding the concept between right and wrong and also have the sense of their legal rights. The management of the chronic disease like type 1 diabetes changes from parent management to self management stage (Dashiff, McCaleb, and Cull, 2006). The period of puberty bring many physical as well as psychological changes, due to which the requirement of the insulin increases in this age. This period could also be a transition period for Lachlan and he may have more developed sense of his rights and independence. Children at this stage start detaching from their parents and families and influence of the peers is very strong. The children in this transition period strive to gain importance and to make identity among their peers (Chiang et al, 2014). The rapid biological changes occur in this transition period. Understanding independence and rights is the example of physical, emotional and cognitive development. In the struggle to find their own identity, young children start separating from their families. The risk taking behavior is again a challenge with this developmental stage in the case of Lachlan. The risk taking behavior cans interfere the process of disease management. For the gaining peer acceptance, the children could avoid managing the chronic illness and can avoid taking insulin. According to Silverstein et al (2005), in this age-group, there is a struggle for independence from parents and other adults that is often manifested as suboptimal adherence to the diabetes regimen. The children at this stage are also referred as adolescents, have the fine motor control, which makes them competent enough for the self-management of the disease. Also it seems to be tempting for the parents to turn the management of diabetes to the adolescents. Though adolescents are able for the self management of the disease, still they require support of the parents for decision making, and adjustment of the insulin. According to various studies it has been found that parents, who provide guidance and supervision to their children in management of the chronic illness, such children have better control over metabolism. The involvement of the parents in the management of diabetes can also affect the parent adolescent relationship. The disclosure of the disease in front of peers can be very beneficial for Lachlan. The healthcare professionals can provide education to the trustful peers and can inform them about the management of disease. Independent Behavior Gaining a sense of independence is an important part of transition from a child to adolescent. Due to the significant biological development, the children at this stage want to come out from being dependent on their parents and want to make their decisions independently. Detachment from the parents is the biggest reason, which is influenced by sense of independence. Due to independent and risk taking behavior. Children at this development stage do not want to discuss their illness in front of their peers and often display non-adherence to diet and treatment. They are stigmatized about not being accepted by their peers (Freeborn et al, 2013). According to the research study of Comeaux, and Jaser (2010), anticipation of negative peer reactions to their diabetes care has been associated with higher levels of diabetes-related stress, problems with adherence in social situations, and poorer metabolic control. The metabolic control is also affected by the biological and psychological facto rs. Changes in the psychosocial factors can impact the condition and severity of the disease. According to the developmental stage Lachlan has the responsibility of self-management of the diabetes and adhering to the treatment. The positive self care behavior is important for him because according to the study of Dashiff, McCaleb and Cull (2006), health deviation and universal self-care were significantly and positively related. The child centered approach is very important for Lachlan. This will include the appropriate education and training program for Lachlan as well as his peers to understand the importance of the self-management and treatment adherence. Parental Involvement The family centered approach is the new evidence based practice, which used for the benefit of the patient and improve the patient outcomes. Family is the most important part of an individuals life. Family can play a significant role in care giving and management of chronic disease like type 1 diabetes. Parents of Lachlan contacted school at the beginning of his school year and informed about his juvenile diabetes since the age of 9. The biggest challenge faced by the parents of the adolescent are their adherence to the treatment and self-management of the disease. The poor adherence to the treatment is mainly found in boys. Adherence and glycemic control can be effective with the involvement of the parents. Family centered care is a way of caring for children and their families within health services which ensures that care is planned around the whole family, not just the individual child/person, and in which all the family members are recognized as care participants (Jolley Shield s 2009). It is important for the healthcare professionals to understand the importance of the family in providing family centered care to the patient. Maintaining respect and dignity of the patient can effectively improve the patient outcomes. It is also important to identify the strength and weakness of the family. The family bonding and strength can be used in the case of Lachlan for developing more adherence and self-management of diabetes. Knowledge and problem solving skills of the family can be beneficial in planning appropriate care interventions for Lachlan. According to the given case study Lachlan has explained that his parents have good knowledge and information about the disease, thus it would be easy for the healthcare professionals to involve them in decision making process (Schilling, Knafl, and Grey, 2006). Parents should be provided with appropriate knowledge about the developmental stage of their child. They should be informed that having a sense of independence and for the purpose of developing self identity, children are required to be encouraged for independence. Thus, family centered approach can be very beneficial of managing the disease at home. Peer pressure, fear of difference, desire for independence, and separation from parents can hinder an accurate management of diabetes and cause blood glucose fluctuations (Palmeret al, 2004). Thus, this situation requires the supervision and cooperation of the parents and family members to have better metabolic control. Due to the puberty, the insulin resistance in the body increases, which impact the body metabolism. But according to the study of Cheraghi et al (2015), the family centered approach or applying the family based interventions can control the level of blood glucose in children like Lachlan. If the parent and families provide and encourage independence in their children, it would help in improving the parent child relationship and will develop more trust among family (Dashiff et al, 2005). Lachlan family has stopped being more concern about his treatment. Since last two years he had been administering insulin by himself. Previously his father administered insulin, as his mother had aversion to needles. His mother can administer insulin, but she opts not to do so. This displays that his family members are little unaware about the problems which can occur. They are unaware of their responsibilities and both are more involved in managing their business. This situation can increase non-adherence to insulin and treatment of diabetes in Lachlan. Parents should offer support to Lachlan, so that he may have a sense of security and dependence, which can improve his health outcomes (Cheraghi et al, 2015). Family centered approach is one of the most significant approaches in the pediatric care that helps to increase the knowledge of the parents and emphasize on continuous support and care towards their child. The main aim of this approach is to reinstate the integrity of the families and to provide care to the children suffering with diabetes (Faulkner, and Chang, 2007). The family centered framework includes the concept of parents and family participation in the decision making, caring for their children and identifying the strength of their families. The participation of the families in care and management of diabetes can improve family bonding and strengthening their family values (Schilling, Knafl, and Grey, 2006). Community Access According to the case study and subjective data obtained from Lachlan, it is clear that he is solely managing his disease with the help of a GP and do not have any kind of community based support service. The transition period of the children bring many biological and psychological changes in children. The community based services can provide important education and knowledge to children for developing understanding of the disease, importance of adherence to treatment and successful self-management (Hanas, 2007). During this age as that of Lachlan, the children may face many social, emotional and educational problems that cannot be resolved just by consulting with GP. The community based service provides assistance and support in resolving all kind of problems in this developmental stage of adolescents (Powers et al, 2015). The community based services are also involved in identifying the needs of children and ensure that, when such children enter in adulthood, they may have good health and must be able to manage diabetes on their own (Hanas, 2007). The high quality care is offered by the community based services, which also emphasize on the support of family and peers and to effectively manage the transition period. Conclusion Diabetes type 1 is a chronic illness that can occur in any age, but mainly found in the young people below age of 30. Juvenile onset diabetes mellitus is the diabetes that occurs in children before the age of 11 years. This paper is based on the case study of Lachlan, who is a 14 years old Secondary School boy. Since last two years, he is solely managing his disease by administering insulin by himself. The paper focused on the importance of family centered care and child centered care that can effectively use in the case of Lachlan for management of type 1 diabetes. According to his development stage, he is in the transitional period, which involves more social, emotional and psychological changes. This transition stage can be effectively managed with the help of child centered care and family centered care. Bibliography Cheraghi, F., Shamsaei, F., Mortazavi, S.Z. and Moghimbeigi, A., 2015. The Effect of Family-centered Care on Management of Blood Glucose Levels in Adolescents with Diabetes.International journal of community based nursing and midwifery,3(3), p.177. Chiang, J.L., Kirkman, M.S., Laffel, L.M. and Peters, A.L., 2014. Type 1 diabetes through the life span: a position statement of the American Diabetes Association.Diabetes care,37(7), pp.2034-2054. Comeaux, S.J. and Jaser, S.S., 2010. Autonomy and insulin in adolescents with type 1 diabetes.Pediatric diabetes,11(7), pp.498-504. Dashiff, C.J., McCaleb, A. and Cull, V., 2006. Self-care of young adolescents with type 1 diabetes.Journal of pediatric nursing,21(3), pp.222-232. Dashiff, C., Bartolucci, A., Wallander, J. and Abdullatif, H., 2005. The Relationship of Family Structure, Maternal Employment, and Family Conflict With Self-Care Adherence of Adolescents With Type 1 Diabetes.Families, Systems, Health,23(1), p.66. Faulkner, M.S. and Chang, L.I., 2007. Family influence on self-care, quality of life, and metabolic control in school-age children and adolescents with type 1 diabetes.Journal of pediatric nursing,22(1), pp.59-68. Freeborn, D., Loucks, C.A., Dyches, T., Roper, S.O. and Mandleco, B., 2013. Addressing school challenges for children and adolescents with type 1 diabetes: The nurse practitioner's role.The Journal for Nurse Practitioners,9(1), pp.11-16. Guthrie, D.W., Bartsocas, C., Jarosz-Chabot, P. and Konstantinova, M., 2003. Psychosocial issues for children and adolescents with diabetes: Overview and recommendations.Diabetes Spectrum,16(1), pp.7-12. Hanas, R., 2007.Type 1 diabetes in children, adolescents, and young adults: how to become an expert on your own diabetes. Class Publishing Ltd. Jolley, J. and Shields, L., 2009. The evolution of family-centered care.Journal of pediatric nursing,24(2), pp.164-170. Oskouie, F., Mehrdad, N. and Ebrahimi, H., 2013. Mediating factors of coping process in parents of children with type 1 diabetes.Journal of Diabetes Metabolic Disorders,12(1), p.1. Palmer, D.L., Berg, C.A., Wiebe, D.J., Beveridge, R.M., Korbel, C.D., Upchurch, R., Swinyard, M.T., Lindsay, R. and Donaldson, D.L., 2004. The role of autonomy and pubertal status in understanding age differences in maternal involvement in diabetes responsibility across adolescence.Journal of Pediatric Psychology,29(1), pp.35-46. Powers, M.A., Bardsley, J., Cypress, M., Duker, P., Funnell, M.M., Fischl, A.H., Maryniuk, M.D., Siminerio, L. and Vivian, E., 2015. Diabetes self-management education and support in type 2 diabetes a joint position statement of the American Diabetes Association, the American Association of Diabetes Educators, and the Academy of Nutrition and Dietetics.The Diabetes Educator,41(4), pp.417-430. Schilling, L.S., Knafl, K.A. and Grey, M., 2006. Changing patterns of self-management in youth with type I diabetes.Journal of pediatric nursing,21(6), pp.412-424. Silverstein, J., Klingensmith, G., Copeland, K., Plotnick, L., Kaufman, F., Laffel, L., Deeb, L., Grey, M., Anderson, B., Holzmeister, L.A. and Clark, N., 2005. Care of children and adolescents with type 1 diabetes a statement of the American Diabetes Association.Diabetes care,28(1), pp.186-212.

The Merchant of Venice was offered to Shakespeares audience as a comedy Essay Example

The Merchant of Venice was offered to Shakespeares audience as a comedy Paper The Merchant of Venice is a story of love and hate, power, control and inequality. It evolves around Shylock, a rich Jew moneylender who lives in Venice and Venetian Christians, which have constantly abused and humiliated Shylock. The moneylender tricks Antonio, one of his abusers, to sign a bond that will entitle him to one pound of his flesh if he doesnt pay back the money he borrowed in three months. Antonio borrowed this money to lend it to his friend Bassanio who needs it to try for the hand of Portia, a rich and beautiful heiress. After Shylocks daughter, Jessica runs away with a Christian and Bassanio wins Portias hand, news come that Antonios ships have been destroyed and he isnt able to pay Shylock in time. The spiritually wounded Shylock wants revenge and demands a pound of Antonios flesh but Portia turns the tables on him during the court hearing. He not only doesnt get a pound of Antonios flesh but half his wealth is confiscated by the venetian state and hes forced to become a Christian, the very thing that humiliated and reduced him. We will write a custom essay sample on The Merchant of Venice was offered to Shakespeares audience as a comedy specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on The Merchant of Venice was offered to Shakespeares audience as a comedy specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on The Merchant of Venice was offered to Shakespeares audience as a comedy specifically for you FOR ONLY $16.38 $13.9/page Hire Writer The reason Shakespeares work is so popular today is that he wrote about human nature and how people behave. That is why The Merchant of Venice is as relevant now as it was four centuries ago. Shakespeare wrote The Merchant of Venice to be viewed in front of white people in the 16th century. The Merchant of Venice followed other plays where Jews were involved like the Jew of Malta. Unlike in these other plays where Jews involved performed all kinds of outrages; Shylock is someone who the Christians pick on. In Shakespeares time white people were very racist towards the aliens. Venice was one of the few cities in the world that had laws and gave rights to the ethnic minorities but even so the rights of Christians were superior. If you prick us, do we not bleed? The villainy you teach me I will execute, and it shall go hard but I will better the instructions. We do not know whether Shakespeare himself was racist or not. But from these words said by Shylock we realise that that Shakespeare understood how Shylock felt and where his anger and hatred came from. This story was written to be viewed in front of a racist audience who would expect Shylock to be humiliated and reduced yet Shakespeare managed to create sophisticated characters that can be played in a number of different ways. Shakespeare points out in this play to stories that only educated people would know about such as Portias reference to the Hercules and sea monster legend that she uses to be compared to Troys virgins: I stand for sacrifice. The rest aloof are the Sardinian wives. This reveals that the play was also written for high classes that would attend when the play was shown. Educated people like these would understand more of the plays complexity and characters. They would analyse the play and see which actions sparked, which feelings, but from my point of view theyd have similar views towards Shylock and other characters as the rest of the audiences. The Elizabethans audience would have seen Antonio as noble gentlemen. On the contrary today we see Antonio as a self-seeking, arrogant, racist. Antonio abuses Shylock in many different ways simply because he is a Jew. He calls him a misbeliever and many other names offending his Jewish faith, he spits on him, he kicks him. This would look normal to the Elizabethans audiences while today in the 21st century we would be outraged and disgusted by such behaviour. Such behaviour as Antonios would not be tolerated and if Antonio was to abuse Shylock today he would be arrested charged and probably sentenced to jail. The fact that Shylock is a Jew would have automatically made him the bad guy and a subject of abuse ion by the audience. He would have probably been played as an evil and dark also comic character. Unlike us the Elizabethans audience would have not been interested in Shylocks complexity. They would have not been listening to him nor interested in figuring out where do his feelings of anger and rage towards Christians come from. On the contrary theyd found it hilarious when Shylock is deeply hurt. Despised as an alien and unconverted Jew they would believe that he was a sinner bound for hell. Shylock can be played in very altered ways. In the two versions that I have seen hes portrayed in the Modern version as businessman that speaks with a Jewish accent who is a good, warm but strict father and who wants to teach Antonio a lesson. He is broken to pieces from Jessicas elopement. When he is given the right to cut a pound of Antonios flesh he firstly hesitates and then is stopped by Portia. He is represented colder and darker in the Oliver production therefore more malicious. Depending on how you represent a character gives the audiences a view angle to look at this character. The Elizabethan stage Jew would have been someone who showed hatred towards the Christians and would do anything to harm them. Portia appeals herself as a confident and composed young woman yet gives herself to Bassanio as unschooled girl. She can be depicted in opposed methods. In the Oliver production Portia is presented as more in control, someone that knows herself and capable of hiding feelings. In the courtroom she is very professional and formal. She makes her speech on mercy standing up, talking to Shylock from across the table. On the other hand, in the Modern production Portia is also in control but is represented as slightly softer and gentle. In the courtroom she takes a chair, sits next to Shylock and looking him in the eyes, gently explains him about mercy as thought he is a child. On the contrary with her behaviour in the Oliver production shes desperate to change Shylocks mind. The Elizabethan audiences would admire Portia and simply see her as angel who saved a poor merchants life. Theyd have been delighted when Antonio is saved and Shylock starts to get charged. To them he just was a bloodthirsty moneylender. Now we see Portia as a touch of cruelty. We understand in the trial she carefully plans her actions against Shylock. She knows about the loophole in the bond all along, gives him three chances to back down and waits until the very moment hes going to cut Antonios flesh when she stops him. Tarry a little, there is something else. This bond doth give thee here no jot of blood Portias suitors Morocco and Aragon can either be interpreted as comics or serious. In the Oliver production Morocco was a comic who wore traditional clothes and talked to himself while Arragon was an old man about 70 years of age who clearly did not deserve Portias hand. In the Modern version Morocco was a wealthy black businessman while Arragon was a Spaniard who used Spanish gestures and talked with a Spanish accent. Although Aragon looked serious he was made to be a comic. The gestures and accent formed a rather racist humour that managed to get me laughing. As it was described as a comedy Shakespeare must have made the two characters comics. The audiences would have been entertained and would probably insulted these two if they thought they were not worthy of Portias hand. Humour races and different traditions is still present in blockbuster films made today like Scary Movie or Black Night. The difference is that today the humour is not humiliating for a race. Solanio and Salarino make Shylock the subject of their jokes after his daughter runs away with Lorenzo. Referring to him as the dog Jew they say that Shylock is bothered more about his money than his daughter running away: My daughter! O my ducats! O my daughter! Fled with a Christian! O my Christian ducats! They continue their victimisation although they know Shylock is grieved at his daughters disappearance. While the Elizabethan audience would have found this amusing, we see it as racist and senseless. Throughout the play there are moments were the emotional intensity is high and others where its low. The main, most powerful excitement in The Merchant of Venice starts to rise when we hear about Antonio ships and drops Shylock has been punished. The courtroom is a very tense scene. Although we know what happen we would follow the action in silence. To the Elizabethan audience the play would have been unknown. In Elizabethan times Jews were not expected to hit back to the Christian abuses therefore Shylocks actions would not have been understood by the audience and regarded as immoral. The law of Venice itself prohibited Jews from retaliating. Shylock used the law to reciprocate against Antonio. He used the Christian law against a Christian. This would have made him an even more hated figure by the audience. The Elizabethan just like the rest of the white Christian population thought themselves as being superior to other races, like Jews. Shylock had tricked Antonio, showing more int elligence than him. The Elizabethan audience would have shouted out rude remarks. Theyd have become furious when Shylock refuses the money and some could have even thrown food on the stage. Finally when Portia stops Shylock the Elizabethans would have been overjoyed. As we look at Gratiano as an unfeeling racist the Elizabethans would have loved it when he discriminates and torments Shylock, joining in the discrimination. According to them Shylock got the punishment he deserved for such wickedness. Although todays audiences sees Shylock as a man who has been controlled by his feelings and goes too far in his search for revenge, we do feel sorry for him. Nevertheless what he was trying to do is wrong. It is impossible to watch this play today without big feelings of discomfort because we see each other as equal and think it is wrong to maltreat people because of their race. The humour is practical rather than jokes said by the characters. For example in the end Portia and Nerissa torment their husbands for giving their rings away when it is they who have them. They share this secret with the audience while the husbands do not know yet that their wives were the doctor and the clerk. It is amusing the situation Bassanio and Gratiano find themselves in. Alternatively this scene can be played as a very serious one because their husbands have been persuaded to give the rings, which they swore theyd wear until death. The play was originally described as a comedy while in fact it is a drama. The views on races have completely changed and today we have totally different views and treatments towards the outsiders. Unlike the Elizabethans we think its completely wrong to abuse or mistreat people because of their race. We see the play as a drama rather than a comedy as it was originally described. The needs of the audiences have changed. Today we have different views towards racism. Rather than being prejudice we judge people on their actions. The only parts of the play that todays audiences could look at as comical are the scenes with Morocco and Arragon and when Portia and Nerissa torment their husbands in Act 5. This is of course if the characters are played in comical ways. The Merchant of Venice is a story of love and hate. Shakspeare has joined together hatred and racism evolving around Shylock with love and romance story developing with Lorenzo and Jessica, Basanio and Portia and Gratiano and Nerissa. The amorous scenes like the gentle night with Lorenzo and Jessica sharply contrast in the scenes where is shown hatred, revenge and racism like the court scene. There is love and hatred language used before. For example when Portia gives herself to Bassanio her gentle spirit/ Commits itself to be directed and when Shylock reveals his hatred for Antonio I hate him for he is a Christian. But in my opinion the moonlight night is the most romantic scene and the courtroom shows more of the issues of racism and hate. The romantic language used by Lorenzo and Jessica while speaking gently to each other, remembering famous lovers contrast with the language for revenge used by Shylock and the racist language used by Gratiano towards Shylock. The moon shines bright, in such a night as this, When the sweet wind did gently kiss the trees, And they did make no noise, in such a night. contrasts with My deeds upon my head! I crave the law, The penalty and forfeit of my band. and O be thou damned, in execrable dog. It looks a little absurd for racism and hatred to unfold with romance and love. Nevertheless it does make a powerful combination of contrast and provides us different with aspects and ways to look at the play. Through years people have been concentrating in different points. As we tend to focus in Shylocks tragedy the Elizabethans would focus in the love story. After Shylock leaves the stage the atmosphere lightness up. Right after the court scene we meet the episode of romance and rings. We are transported from the tense atmosphere of the courtroom in to the world of the couples. After getting what they wanted and expected, Shylock to lose, the Elizabethans would have enjoyed the poetry between Lorenzo and Jessica and the torment of Bassanio and Gratiano by their wives. The sudden change in temper and variety would look bizarre to us. Focusing on Shylock we fail to adapt as good to the romance and jokes of the next few scenes. We would be left shocked by what happens in the courtroo m. However Shakespeare gives us time for the tragic feelings evoked in the audience to soften and mellow by adding the ring episode. Act 5 draws us from Shylocks world. It would have also been too abrupt to end the play with Shylocks exist. At the end there is a happy ending for all except Shylock and Jessica, the outsiders. Shakespeare could have given the play another title like The Jew of Venice, The Gentleman of Venice or The Lady of Belmont but he chose to call it The Merchant of Venice. Antonio is the merchant of play. So why did Shakespeare name the play after this character? Antonio is the fountain of the play. He is racist and arrogant that takes pleasure in humiliating outsiders without taking in configuration that the victim would one day hit back. Antonio is one Venices principal anti-Semites. Antonio is one of the characters that represents how the white Christians would feel towards the outsiders in Elizabethan times and how the whites would treat them. He is the one that triggers everything. He has invested his money and is exposed to Shylock by Bassnio. Being against money lending he borrows 3000 ducats and is tricked into signing the bond. You dont expect favours from someone you have maltreated but Antonio being arrogant easily falls in Shylocks trap. Maybe this explains Shakespeare action. Antonio has called Shylock misbeliever, cut-throat dog and spat upon my Jewish gabber dine, simply because I am a Jew. Shylock tells he has cooled my friends and heated mine enemies. Antonio arrogance shows when hes asked by Shylock why he expects money from someone he has abused and humiliated. Antonio answers: I am as like to call the so again, To spit on the again, to spurn thee too, If thow wilt lend this money, lend it not. As to thy friends, But lend it rather to thine enemy. Antonio regards Jews as less than human. In the court scene Antonio offers his share if Shylock turns into a Christian which looks as a merciful act from him. But in fact Antonio strips Shylock of the last things he has left. By becoming a Christian Shylock abandons his religion nor can he lend money because the law does not allow it for the Christians. Antonio has separated Shylock by the last things identifying him as who he is. Jews are originally from Israel. Many Jews migrated in other countries to seek new lives. They are known as hard working and clever people that know how to deal with business matters. Jews kept their religion, culture and traditions. Through the history they have been persecuted and tortured. Many countries have records of crimes against Jews. Shylock is the Jew of this play. He is identifiable as member of an alien race by appearance, manners and speech. The Christians need his services to borrow money but hate him for being a usurer. Shylock is one of the most complex characters Shakespeare has ever written about. He can either be interpreted as a dark villain, an insensitive moneylender that makes money from peoples misfortunes and takes great delight on his way to kill a merchant that has exposed his corrupt ways. Or as the victim of the society, someone who has been humiliated because of his race and becomes obsessed in his search for revenge. Audience over the years have regarded Shylock in different ways and have had different feelings towards him. Of course Shylock is a bit of both but today we look at him as a victim rather than a villain. Being a successful usurer Shylock has suffered humiliation and racism. The main fountain of his suffering is Antonio and his friends. Just like the other Jews Shylock has tried to ignore and rose over the prejudice following him. Shylock has kept his traditions and religion. Tubal is willing to help Shylock in searching for his daughter which would suggest that Shylock is respected in the Jewish community. What happens to him represents what has happened to Jews through the history. We firstly meet Shylock in scene three, when Bassanio and Antonio see him to borrow 3000 ducats. Shylock is intelligent and a good businessman. He manages to hide his feelings towards Antonio and reveals them aside to the audience. He says that I hate him for he is a Christian, lends out money gratis and he hates our secret nation. Although Shylock gives three reasons I believe that the only real reason he hates Antonio is that he is a racist anti-Semitic who has humiliated and abused him and other Jews. Shylock informs us that his treatment has been taking place before the play started by referring to ancient grudge I bear him. Some people may think that Shylock is an unfeeling money leader who was given a chance to be accepted and is being rejected because of his intensively and ruthless ambitions. They would rely on Shylocks hatred I hate him for he is a Christian and what Jessica says about her fathers intention he would rather have Antonios flesh therefore say that Shylocks true purpose was to kill Antonio. But I dont agree. A lot happens in this play that could change Shylocks intentions. I look at him as a man with a darker side that is pushed too far. Antonio many times has insulted him by calling him a misbeliever and cut-through dog disrespecting his faith, has spat on him and kicked as though he was an animal. Shylock brings up the bond as a merry sport and tricks the arrogant Antonio into signing it. Although he doubts the safety of Antonios ships he lends him the money but I believe he just wanted to teach Antonio a lesson. Shylock has suffered in human treatment in the hands of the Christian. Although the ethnic minorities had some rights the law of Venice prohibited the outsiders like Shylock from retaliating when Christians abused them. Even Shylocks servant, Lancelot has no respect for him. Shylock uses this Christian law to hit back at Antonio. He has been bullied and wants revenge but has no intention of harming Antonio. Shylock is a good loving father but strict. He has planned Jessicas future and is devastated when she steals from him and runs away. As a father he fails to understand Jessicas feelings. In the Modern version of the play Shylock and Jessica sing to each other. We realise they love each other and have a good father and daughter relationship by the eye contact, how they sing to each other warmly. Shylock touches Jessica with love and gently kisses her hand. Then Lancelot mentions that there is a mask ball and Shylock suddenly slaps Jessica. This suggests that hes very strict and does not want his daughter to have anything to do with Christians. He immediately shows signs of regret. You can tell by his body language that he is sorry and feels bad about what he did but does not actually apologise to her. This night the Christians conspire against Shylock. They invite him to dinner while Lorenzo and others get Jessica. What Jessica has done is the most appalling disaster that can happen to an orthodox Jewish family. She defies her father and steals from him. In such cases the daughter would be considered dead. Shylock has been abandoned by his own flesh and blood, which really wounds him. Leahs ring has big sentimental valve to shylock. The fact that Jessica gave it away for a monkey deepens his wound. She is seduced by Christians to run away leaving behind her father, her house, her religion, culture and traditions. Shylock is torn to pieces. The repetition of words in the conversation with Tubal adds to the dramatisation, shows how saddened Shylock is. -Why there, there, there, there! This is what causes the fire of revenge within Shylock to start burning out of control. When he hears about Antonios ships he feels the need for revenge. He could not control his daughters actions nor how the Christians treat him but he is able to control the life of Antonio and the Christian law itself gives him this right. He chooses to plea for Antonios flesh and revenge all the humiliation that he has suffered from him. If you prick us, do we not bleed? If you tickle us, do we not laugh? If you poison us, do we not die? And if you wrong us, shall we not revenge? Shylock argues that a Jew and a Christian are the same therefore he will take revenge just like a Christian would. He says to Salerino and Solanio that The villainy you teach me I will execute. Modern plays make The Merchant of Venice Shylocks play. Shylock stops tolerating his in human treatment and rebels against it. He knows that suffering is the badge of his tribe and wants to change the way the world treats Jews. He refuses the money but is touched by Portias speech. He insists that he must cut a pound of Antonios flesh. Shylock knows what he is doing is wrong but he must avenge his treatment, daughter and wife. His social side tells him to take the money but his emotional side insists on revenge. So deep in his pain to push him in extreme circumstances. But he was wrong in thinking that the law could be exploited for him. Portia stops him announcing that Shylock has been breaking the law. As consequence half his wealth is confiscated by the state, his life is forgiven but he is forced to convert into a Christian. Once again Shylock is a looser in a Christian world. His humanity is laughed at. He is reduced to the very thing that humiliated him, stole his daughter and spat on him. He abandons the fight to change how the world treats the Jews and learns that suffering will always be his tribes badge. His liability to obsession has dragged him to the brink of death. But he does not die physically. By forcing him to become a Christian Antonio and the Duke strip away the last things he has left. His money, his proud, his daughter, his religion and everything that makes him who he is, is taken away from him by the Christian society. There is nothing left to indicate that this man is Shylock. By being a Christian he cannot even practise his occupation. The Oliver version of the play ends with a Kaddish, a song sang to the Jews dead. For a man like Shylock this is spiritual death. The true him does not exist any more. Shylock threatens no further revenge, on the contrary he quietly with draws saying that he is not well. Portia is the lady of Belmont. It is her hand that Bassanio wants to win. She is described by Morocco as this shine, this mortal breathing saint, by Arragon as my hearts hope, by Lorenzo as awarded with god-like amity, by Bassanio as of wondrous virtues and even by Jessica as the joys of heaven here on earth. During the play Portia changes from one identity to another. She moves from her soft existence to the harsh, strict young advocate in the court of law and than back again. Portia has one true friend that she confides in, her maid Nerissa. She has a variable character. She is gentle and nice to those that she likes and ruthless to those that she dislikes. She communicates gently and politely with Bassanios friends but ruthlessly punishes Shylock and makes racist remarks on her suitors. These characteristics of her character allows on actress to develop her role. Portia compares herself to the Dardanian wives considering herself as a victim that she cant choose her own husband but has to marry the first, no matter whether she likes him or not, that chooses the right casket. She acts differently with Bassanio. She enjoys staying with him and opens herself to him. I think that she does have feelings for Bassanio but Portia believes that women should keep quite about their feelings and that is what she does. Bassanio does not see Portia only as the woman who he loves but also as a rich prize and a source of wealth. Portias reference of the rack suggests that she doubts Bassanios love. Nevertheless she is happy when Bassanio chooses right.

E-Commerce and Globalization SLP essay

E-Commerce and Globalization SLP essay E-Commerce and Globalization SLP essay E-Commerce and Globalization SLP essayToday, the emergence of e-commerce and the development of new information technologies and telecommunication systems open new opportunities for the successful business development for many companies. In this regard, even renowned leaders, like FedEx have to implement new technologies and enter new markets, including online ones. In actuality, FedEx focuses on the wide implementation of new approaches to its business and develops its e-commerce to enhance its position not only in the US market but also in the global one. As e-commerce tends to outpace the conventional one, the decision of FedEx to shift toward e-commerce by means of the development of the variety of online services and solutions open new prospects for the company’s further business development and successful international market expansion.At the same time, FedEx is virtually forced to develop its online branch to confront the emerging competition from the part of such behem oths as Amazon.com Inc., which attempt to develop their own distribution network and, thus, to take the market share from FedEx and its traditional rivals, like UPS (Barr, 2013). Therefore, FedEx applies online services to facilitate the process of booking, making orders, and shipping products. The company allows users not only to conduct all transactions online but also conduct all operations online, while the company takes the responsibility for the delivery virtually from a customer to the target destination. In addition, customers can track the shipping of their good online that facilitates the control over the delivery conducted by customers.In actuality, the development of e-commerce enhances consistently the competitive position of FedEx because the company becomes closer to its customers. Customers do not need to go anywhere to make an order or use services of the company. Instead, they can make all transactions and operations online, while the company will perform its funct ion of the delivery of goods, parcels and other items. In addition, the development of the online business of FedEx helps the company to maintain its competitive position in face of new rivals, such as Amazon.com, and other behemoths of e-commerce, which attempt to develop their own distribution network and their own delivery system with the help of online services. Moreover, even large retailers, like Walmart, are trying to enter this segment of the market. Therefore, if FedEx remains inactive and ignores the development of its online branch, then the company will face a steep decline in the nearest future as e-commerce keeps progressing fast. If the company loses its position in online segment of the market, then the company will lose its currently strong position in the future.E-commerce contributes to the better sharing knowledge within the organization because online solutions developed and implemented by FedEx are convenient not only for customers but also for employees of the company, who can share information more effectively (Growth Solutions, 2014). FedEx uses the full potential of new information technologies and telecommunication systems to develop its business and improve its performance. New technologies developed and applied in terms of its online business improve the communication within the organization and allow employees of the company to enhance their interaction because new technologies eliminate physical boundaries among them.Thus, the development of e-commerce by FedEx is a strategically important direction in the development of its business worldwide.

Montar Conjugation in Spanish, Translation, and Examples

Montar Conjugation in Spanish, Translation, and Examples The Spanish verb montar is a regular -ar  verb like cenar, ayudar, or bajar.  It has several different meanings, but the most common is to mount. This article includes the conjugations of  montar  in the indicative mood (present, preterite, imperfect, future and conditional), the subjunctive mood (present and past), imperative mood, and other verb forms such as the gerund and past participle. Meanings and Examples of the Verb Montar The verb montar  is a cognate of the English verb to mount, so it can mean to mount or to put on. For example, Voy a montar el televisor en la pared is translated as I am going to mount the television on the wall, and  Ellos van a montar una obra de teatro  means They are going to put on a play.   Another meaning of  montar is to ride a horse or a bicycle. For example, A ella le gusta montar a caballo  (She likes to ride horses) or  A à ©l le gusta montar en bicicleta  (He likes to ride bicycles).   Yet another meaning of the verb  montar  is to put together or to assemble. For example,  Tengo que montar los muebles que comprà © en Ikea  (I have to assemble the furniture I bought at Ikea.) This meaning can even be used for putting together or starting a business. For example,  Vamos a montar un negocio de vender frutas  (We are going to start a business selling fruit.) The verb  montar  can also be used as a reflexive verb,  montarse,  in which case it means to get on something or to climb into something. For example, you can talk about  montarse en el bus  (get on the bus),  montarse en el carro  (get in the car),  montarse en el avià ³n  (get on the plane),  montarse en el caballo  (get on the horse), etc. Montar Present Indicative Yo monto I mount Yo monto mi bicicleta para ir al trabajo. T montas You mount T montas a caballo en la finca. Usted/l/ella monta You/he/she mounts Ella monta el cuadro en la pared. Nosotros montamos We mount Nosotros montamos una obra de teatro. Vosotros montis You mount Vosotros montis los muebles rpidamente. Ustedes/ellos/ellas montan You/they mount Ellos montan una tienda de zapatos. Montar Preterite  Indicative The preterite tense can be translated as the English simple past. It is used when talking about actions in the past that have been completed. Yo mont I mounted Yo mont mi bicicleta para ir al trabajo. T montaste You mounted T montaste a caballo en la finca. Usted/l/ella mont You/he/she mounted Ella mont el cuadro en la pared. Nosotros montamos We mounted Nosotros montamos una obra de teatro. Vosotros montasteis You mounted Vosotros montasteis los muebles rpidamente. Ustedes/ellos/ellas montaron You/they mounted Ellos montaron una tienda de zapatos. Montar Imperfect  Indicative The  imperfect  tense can be translated to English as was mounting or used to mount.  It is used to talk about ongoing or repeated actions in the past. Yo montaba I used to mount Yo montaba mi bicicleta para ir al trabajo. T montabas You used to mount T montabas a caballo en la finca. Usted/l/ella montaba You/he/she used to mount Ella montaba el cuadro en la pared. Nosotros montbamos We used to mount Nosotros montbamos una obra de teatro. Vosotros montabais You used to mount Vosotros montabais los muebles rpidamente. Ustedes/ellos/ellas montaban You/they used to mount Ellos montaban una tienda de zapatos. Montar Future  Indicative Yo montar I will mount Yo montar mi bicicleta para ir al trabajo. T montars You will mount T montars a caballo en la finca. Usted/l/ella montar You/he/she will mount Ella montar el cuadro en la pared. Nosotros montaremos We will mount Nosotros montaremos una obra de teatro. Vosotros montaris You will mount Vosotros montaris los muebles rpidamente. Ustedes/ellos/ellas montarn You/they will mount Ellos montarn una tienda de zapatos. Montar Periphrastic Future  Indicative Yo voy a montar I am going to mount Yo voy a montar mi bicicleta para ir al trabajo. T vas a montar You are going to mount T vas a montar a caballo en la finca. Usted/l/ella va a montar You/he/she is going to mount Ella va a montar el cuadro en la pared. Nosotros vamos a montar We are going to mount Nosotros vamos a montar una obra de teatro. Vosotros vais a montar You are going to mount Vosotros vais a montar los muebles rpidamente. Ustedes/ellos/ellas van a montar You/they are going to mount Ellos van a montar una tienda de zapatos. Montar Conditional  Indicative The conditional  tense can be translated to English as would mount.  It is used to talk about possibilities. Yo montara I would mount Yo montara mi bicicleta para ir al trabajo si viviera ms cerca. T montaras You would mount T montaras a caballo en la finca si estuvieras ms saludable. Usted/l/ella montara You/he/she would mount Ella montara el cuadro en la pared si tuviera las herramientas necesarias. Nosotros montaramos We would mount Nosotros montaramos una obra de teatro, pero no tenemos tiempo para ensayar. Vosotros montarais You would mount Vosotros montarais los muebles rpidamente, pero son muy grandes. Ustedes/ellos/ellas montaran You/they would mount Ellos montaran una tienda de zapatos si tuvieran el dinero para empezar. Montar Present Progressive/Gerund Form The present participle or gerund  for -ar  verbs is formed with the ending  -ando. The present participle is used in  progressive tenses  like the present progressive. Present Progressive of Montar est montando Is mounting Ella est montando el cuadro en la pared. Montar Past Participle The past participle for -ar  verbs is formed with the ending  -ado. The past participle is used in  compound tenses  like the present perfect.   Present Perfect of Montar ha montado  Has mounted Ella ha montado el cuadro en la pared.   Montar Present Subjunctive Que yo monte That I mount El mdico sugiere que yo monte mi bicicleta para ir al trabajo. Que t montes That you mount El jefe quiere que t montes a caballo en la finca. Que usted/l/ella monte That you/he/she mount Mam quiere que ella monte el cuadro en la pared. Que nosotros montemos That we mount El director quiere que nosotros montemos una obra de teatro. Que vosotros montis That you mount El cliente quiere que vosotros montis los muebles rpidamente. Que ustedes/ellos/ellas monten That you/they mount Pedro sugiere que ellos monten una tienda de zapatos. Montar Imperfect  Subjunctive There are two different ways of conjugating the  imperfect subjunctive. The tables below show both options, which are equally correct. Option 1 Que yo montara That I mounted El mdico sugiri que yo montara mi bicicleta para ir al trabajo. Que t montaras That you mounted El jefe quera que t montaras a caballo en la finca. Que usted/l/ella montara That you/he/she mounted Mam quera que ella montara el cuadro en la pared. Que nosotros montramos That we mounted El director quera que nosotros montramos una obra de teatro. Que vosotros montarais That you mounted El cliente quera que vosotros montarais los muebles rpidamente. Que ustedes/ellos/ellas montaran That you/they mounted Pedro sugiri que ellos montaran una tienda de zapatos. Option 2 Que yo montase That I mounted El mdico sugiri que yo montase mi bicicleta para ir al trabajo. Que t montases That you mounted El jefe quera que t montases a caballo en la finca. Que usted/l/ella montase That you/he/she mounted La mam quera que ella montase el cuadro en la pared. Que nosotros montsemos That we mounted El director quera que nosotros montsemos una obra de teatro. Que vosotros montaseis That you mounted El cliente quera que vosotros montaseis los muebles rpidamente. Que ustedes/ellos/ellas montasen That you/they mounted Pedro sugiri que ellos montasen una tienda de zapatos. Montar Imperative   The imperative mood is used to give direct orders. The tables below show the positive and negative commands for  montar. Positive Commands T monta Mount! Monta a caballo en la finca! Usted monte Mount! Monte el cuadro en la pared! Nosotros montemos Lets mount! Montemos una obra de teatro! Vosotros montad Mount! Montad los muebles rpidamente! Ustedes monten Mount! Monten una tienda de zapatos! Negative Commands T no montes Dont mount! No montes a caballo en la finca! Usted no monte Dont mount No monte el cuadro en la pared! Nosotros no montemos Lets not mount No montemos una obra de teatro! Vosotros no montis Dont mount! No montis los muebles rpidamente! Ustedes no monten Dont mount! No monten una tienda de zapatos!

Texting While Driving Essay Example | Topics and Well Written Essays - 500 words

Texting While Driving - Essay Example Texas is one of the states of the region of United States of America that has implemented quite stringent laws and regulations to counter texting while driving. Texas is one of the only five states of United States that has banned texting while driving for those drivers who are driving on their learning permit for the initial six months since the time they have attained their license (Txdot.gov, 2015). Furthermore, Texas is even one of the states that do not allow early age drivers who have a full license to drive while using the cell phones. Individuals below the age of 18 are restricted from driving and using cell phones. Texas is even only one of the three states of United States that have disallowed school van drivers to drive while using a cell phone. Furthermore, a regular bus driver is not even allowed to use a cell phone in the region of Texas if the driver is moving along with a passenger who is below or equal to seventeen years of age. Driver of all vehicles experience a co mplete ban on texting while driving when they are driving in school zone and they are fined between the ranges of $200 to $500 (Txdot.gov, 2015). Different cities of Texas have different rules in relation to texting while driving. For example, Austin is one of the several cities that have implemented a complete ban on the act. Texas is one of the states that have implement quite strict rules to restrict its drivers from using a cell phone while driving but it has not banned every individual driver from doing so. There are a total of 45 states that have implemented a complete ban on texting while driving a motor vehicle and Texas is not one of those states. During the period of 2015 a bill was voted in the Legislative House of Texas and as per the bill all drivers would be banned from using a cell phone while driving (Barnett, 2015). The bill even states that drivers would be allowed to text message while they are not driving and are in a driving lane such as a

Decision Making Assessment (Synthesis) Essay Example | Topics and Well Written Essays - 500 words

Decision Making Assessment (Synthesis) - Essay Example The study deals in focusing on the decision making concept with reference to U.S. Army Corps of Engineers. Frame is defined as â€Å"the structural core of the paradigmatic mental model that brings to a problem† (Johnson & Russo, 1994, p. 290). In simple terms decision making frames creates its own ideas and focuses on the environment. By ideas it is meant that the environmental issues should be considered that are affected by the decision (Johnson & Russo, 1994, p. 290). U.S. Army Corps of Engineers considers environmental sustainability as their key principle. The Corp team diligently works to strengthen the security of the nation by developing and preserving the infrastructure of America and offering military facilities (About us, n.d.). Any type of decision making is backed by reasoning. A bad decision comes from distortion and biases, which creates a series of mental flaws and obstructs the sense of reasoning. So before coming to any decision reasoning should be done properly (The Hidden Traps in Decision Making, n.d.). Behind any decision taken by the organization, the main reason is to â€Å"strengthen the security system, energize the economy and reduce the risks from disasters† (Mission & Vision, n.d.). For this reason a group of trained individual is continuously working to provide innovative and sustainable solutions (Mission & Vision, n.d.). Declarative knowledge in decision making gives importance to the ordering of attributes and relative desirability of various levels within the attributes that are required to implement the strategy. Thus the experience and expertise of a decision maker is bound to be affected by the declarative and procedural memory in following a plan (Goldstain & Weber, 1995, p.116). U.S. Army Corps of Engineers always transform the ways they do their business based on the Campaign Plan. A set of experienced, trained and certified workers, work as per

In the 15th Century the idea of schooling began Essay Example for Free

In the 15th Century the idea of schooling began Essay It is used during the process of streaming within school subjects. For example pupils who the teacher feels is good or poor at a certain subject, will be taught in a high or low ability group, this has criticisms at it encourages pupils to think of themselves as having fixed educational ability. A pupil can also be given a label from their behaviour, such as trouble maker or thick, either at home or school. This can damage a childs self esteem or make them rebel, which leads to them believing the label they have been given, this is called the Self-fulfilling prophecy. For what ever reason they were given the label, they find it hard to be looked at without the label, so end up behaving in a way that fits to their given label. Working class not only have had inequalities in the past but also still do today. Although there are more opportunities in the education system, home life also plays large impact on how well a child does achidemically at school. Douglas (1964) conducted a study on middle and working class children through primary and secondary school. He found that children of a similar measured ability at age 7 varied a great deal in their educational achievement by the time they were 11. He claimed that the greatest influence on attainment was parental attitudes in the working class. He measured this by the number of times these parents visited the school, family size, early child-rearing practises, health and the quality of the childs school. Working class children are more likely to have a part time job whilst at school and likely to leave education at 16. The Plowden Report (1967) noticed in working class households there was an absence of books, educational toys, lack of finance, lack of motivation, no parent support of due to own experiences or as a need to work long hours. This has been described as Material and Cultural deprivation. Jackson and Marsden (1962) published a study, Education and the working class. It showed that working class children tend to be slower in learning how to read and write, they start school at a disadvantage and this normal continues throughout. Marxists would say that this is because there are less opportunities for some classes and that the education system just helps to reproduce the existing class structure, e. g. , the ruling class (upper and middle class) and the workers (the working class), thus conflict and inequalities will continue. Success at school depends heavily on language, for reading, writing, speaking and understanding. Bernstein argues that there is a relationship between language use and social class, and that the language used by the middle class is a better instrument for success at school than the language used by the working class, (Browne 2005). In his view there are two different language codes: Â  The restricted code- This language is used by both classes, but is more characteristic of the working-class people. It is used everyday amongst friends and family, which is informal and simple (such as slang). Bernstein argues that lower-class-working people are mainly limited to this form of language use. Â  The elaborated code- This is mainly used by the middle-class, and is spoken in a formal context, with explanation if required. It has a much wider vocabulary than the restricted code, and is the language that would be found in textbooks, essays and examinations. Bernstein has argued that as the language used in schools by teachers and in textbooks is the elaborated code, working class children are disadvantaged. They may find it hard to understand the elaborate language used in school, therefore their work will suffer. Unlike middle class children who are used to the language so will find the work easier. Differences have been found amongst the achievements of people from different ethnic backgrounds, possible reasons for this could be the differences in their cultural backgrounds, language barriers and understanding or suffering from racism. If English were not the first language for someone this would give him or her a large disadvantage in the understanding of the language, which would affect their work in most areas. Suffering from racism in or out of school would cause the pupil upset, which could affect their schoolwork. Many Pakistani, Bangladeshi and African Caribbean children have large families and are working class, so are likely so have deprived social conditions. These groups mentioned appear to have a below average reading ability and tend to get fewer and poorer GCSE results than white or Indian pupils. It can be seen on the below table they are the overall lowest achieving ethnic groups. Students that achieved 5 or more GCSE grades A*-C (%) Race Group 1989 1998 2002 Indian N/a 54 60 White 30 47 52 Bangladeshi N/a 33 41 Pakistani N/a 29 40 Black 18 29 36. (Department for Education and skills, 2004: in Livesley et al, 2005) From the data above it is clear that black children are the lowest achievers. In the past racist remarks have been made claiming that problem was they had lower levels of inherited intelligence. Which is untrue, in 1985 the Swann Report found that there was no significant difference between the IQs of black and white children, (Thompson et al, 1982). Black boys are often given labels such as unruly and difficult to control, due to how the teacher has interpreted them by their dress, manner or speech, and find them challenging. They are more often to be given detention than other pupils, and often feel unfairly treated, then respond in accordance with their label, self-fulfilling prophecy. Although they do not achieve well at school, the number of black women staying in education past the age of 16 is increasing, which may be influenced by the many future career opportunities available today. Kamala Nehaul (Parenting, Schooling and Caribbean Heritage Pupils 1999) has noted how black parents valued education for the enhanced life chances it offered. She also mentioned the encouragement and commitment from parents, talking about the school day and providing provisions needed for their child to study. Indian children do well within the education system, there is a strong emphasis on self-improvement through education within this culture. Many of these children have professional backgrounds, so have good role models and supportive parents and they also have material advantages. Differences in the achievement between gender, race and class will continue to be compared, though surely the person should be treated as an individual. Post-modern thinkers such as Elkind (1998), suggest a key characteristic here is the idea of difference and, in a sense, the fragment of identities. In other words, students want to be recognised and treated as unique individuals rather than as groups, (Livesey et al, 2005). Although a students background may effect their achievement, as evidence suggests, it must be remembered that everyone is an individual with their own abilities, no matter what race, class or gender they are, have the potential to achieve in education. A girl, black or white from a working class background may not have had any opportunities for a good career after education 50 years ago, due to inequalities in the system, but this is not the case today. Overall the educational achievements for all groups of people have improved. There will always be some people in all of the groups mentioned previously, that fail in education, as a result of self-gratification and now culture, they are more focused on living for the moment, and not thinking about how their actions during their education can effect their future life.

Hamlet :: essays research papers

Hamlet The Modern ntinued to fall as it had for the past week. Hayden was trying to figure out what had happen in the past six months. The lost of his father, the gain of a stepfather, it all puzzled him.   Ã‚  Ã‚  Ã‚  Ã‚  Ã¢â‚¬Å"How can all of this happen in such short amount of time? She didn’t even wait a month after my father’s death to get married, to his brother at that.† Hayden stared out the widow at the rain from his desk.   Ã‚  Ã‚  Ã‚  Ã‚  A sight breeze blew past him, Hayden turned around to see where it came from. He was faced with his father. Hayden was speechless. The spirit gently touched his left shoulder then spoke. â€Å"Hayden, my death was not an accident. Your uncle set up the plane crash, so he could have it all.†   Ã‚  Ã‚  Ã‚  Ã‚  Ã¢â‚¬Å"But what can I do? Hayden managed to mutter.   Ã‚  Ã‚  Ã‚  Ã‚  Ã¢â‚¬Å"I need you to stop Claude from ruining anymore lives, including yours.†   Ã‚  Ã‚  Ã‚  Ã‚  Before Hayden reacted, the room was empty again.   Ã‚  Ã‚  Ã‚  Ã‚  Suddenly a knocking came from his oak door. Hayden stood up, walked across the room to the door and opened it. It was Harry, Hayden’s best friend. He told Harry everything that just happened. They decided that taking Claude’s life would be the best plan.   Ã‚  Ã‚  Ã‚  Ã‚  Ã¢â‚¬Å"But, Lorne, I dunno if Hayden still wants to be with me. He says he cares for me, but he just doesn’t show his affection.† Olivia stated as she looked into her mirror and slowly brushed her silky blonde hair.   Ã‚  Ã‚  Ã‚  Ã‚  Lorne slowly walked up to Olivia, gently place his right hand on her left shoulder, and then said, â€Å"Livie, I have nothing against Hayden Christiansen, but I just dunno if he’s the right person for you.†   Ã‚  Ã‚  Ã‚  Ã‚  Ã¢â‚¬Å"Why is that?† Olivia was puzzled.   Ã‚  Ã‚  Ã‚  Ã‚  Ã¢â‚¬Å"I get a bad vibe from him.†   Ã‚  Ã‚  Ã‚  Ã‚  Well, last week, I was walking down the hall and I saw Hayden, so, naturally I stopped and said hi. But he just kept on walking. He completely ignored me. â€Å"Olivia said with an upset tone. â€Å"I just wanted to cry.†   Ã‚  Ã‚  Ã‚  Ã‚  Ã¢â‚¬Å"I just don’t know about him.† Lorne looked at his watch, then continued. â€Å"I have to go.†   Ã‚  Ã‚  Ã‚  Ã‚  Olivia turned, looked at Lorne, and questioned. â€Å"You’re leaving already? But you just came home last night.†   Ã‚  Ã‚  Ã‚  Ã‚  Ã¢â‚¬Å"I know, I’m sorry. But this time I won’t be got as long this time.†   Ã‚  Ã‚  Ã‚  Ã‚  Ã¢â‚¬Å"Promise?†   Ã‚  Ã‚  Ã‚  Ã‚  Ã¢â‚¬Å"Promise!†   Ã‚  Ã‚  Ã‚  Ã‚  Olivia sighed then said, â€Å"Okay.†   Ã‚  Ã‚  Ã‚  Ã‚  Ã¢â‚¬Å"But remember if he makes you cry, he’s just not worth it.†   Ã‚  Ã‚  Ã‚  Ã‚  Ã¢â‚¬Å"Alright.† Olivia replied then kissed Lorne on his pale lips.

Case Study on Sumitomo Corporation Essay

1.Case Study on Sumitomo Corporation on Derivative Losses and Lesson Learned 1.1Introduction Sumitomo Corporation was top in market in copper business in the world prior to 1996 in term of trading size and it operations. Copper business is part of their portfolio and it was delegated to Yasuo Hamanaka who was the Head of Copper Trading and he was engaged in illegal copper trading and faced extensive losses and massive cover-up. As the result of this loses, he attempted to avoid losses many times. This was against the rules and regulation of the London Metal Exchange (LME). LME created new regulation to prevent the market domination, as the result of this; he faced losses on his operations. There were two malfunctions recorded; he maintained two types of books, one is to showing big profit, and the second one is to keep secrete account, unauthorized trades over 10 years. No one except Hamanaka was not aware of accumulated loss of $ 1800 million. 1.2Background of the Company Sumitomo Corporation is one of the subsidiaries of Sumitomo Group which is one of top 5 â€Å"Sogo Shosha† general trading in Japan. It has 120 overseas branches in 65 countries, and having diversified business of Metal, Mineral Resources, Energy, Chemical & Electronic and Infrastructure. Copper Department is one of the departments in Copper Corporation which is owned Mineral Resources, Energy, Chemical & Electronic Business unit. In 1800s, Sumitomo Corporation was diversified the business into Sumitomo Bank, Sumitomo Metals, and Sumitomo Corporation. In 1980, they obtained strong position & positive reputation in the Copper market. Competition in Copper industry was very high; Copper was traded on LME listed in London and COMEX in USA. Copper was placed 3rd used Metal after Iron & Aluminum. There were two types of market participants i.e. one is supplier who does physical supply, and the second is speculators who arbitrage deal without delivery. Sumitomo was acted as speculator and after acquiring mines in Philippines in 1984, Sumitomo changed from speculator to supplier. After 1988, they made of $3 to 4 million profit and they followed cost leadership strategy which caused huge loss because of having high inventory while declining demand. LME is popular for providing spot and future markets where clearing systems reduce counter party risks. The delivery would be taken place for the authorized warehouses and storage facility. The specification of copper would be included i.e. quality, trading unit, price quotation, trading month, minimum fluctuation, and tick value. The copper contract would meet the following conditions i.e. counter party information is open, and delivery condition is by the party, not LME. Yasuo Hamanaka was the Chief/Head of Copper Corporation. He was committed wrongful Act during the 1985-1996. He was referred as by many Mr. Five percent/Mr. Copper. He traded 0.5 million metric tons per year which was the 5 % of total world demand and having experience of 23 years in copper trading. 1.3Sumitomo Copper Scandals From 1985, Hamanaka lost a total of $1800 million. He executed as many as $20 billion worth of unauthorized trades a year. His main strategy was the â€Å"short squeeze†. The future market was particularly vulnerable to manipulation since the market volume was relatively small. By buying up futures and choosing physical delivery, future seller ended up buying copper in a spot market, which resulted in backwardation: the spot price is higher than the forward price. As far as LME concern, it considers only the inventory in their authorized warehouses. If someone moves away from copper inventory outside of an authorized warehouse, LME inventory appear to decrease and therefore, copper price rise due to a perceived tight supply in the market. Hamanaka implemented such strategy because of all his illegal trades was not booked, but is clear that this was a possible way to induce backwardation. In December of 1991, the LME decidbed to set new regulations that would limit the range of backwardation within 25 pounds to prevent market manipulation. Backwardation shrunk to almost $0 or even negative, thus causing a huge loss in Sumitomo’s portfolio. To recoup the loss, he conducted a Radr transaction in June 1993, but at the end he ended up closing their Radr position and incurred a $1.1 billion loss. Hamanaka tried to recoup the loss by increasing the trade volume and made a contract with Winchester for1 million metric tons over two years at the price of $2,800, however, due to price declines, the loss kept expanding. Hamanaka’s next step was to create an option portfolio named â€Å"Radr† transactions. He made six different transactions in Radr. The counterparty of these transactions was Credit Lyonnais Rouse (â€Å"CLR†, currently Calyon Group). Since the position held by CLR was large and caused backwardation, LME tightened the backwardation limit to $5 in September 8 1993. In addition, LME informed Credit Lyonnais that they were to cancel part of their transactions with Sumitomo on September 17th,, Thus resulting in a $1.16 billion loss for Sumitomo. ïÆ'Ëœ1st: In June 25, 1993, Hamanaka buys call option with an average price of $2,400 and which expires after 2 years. The transaction is totally irregular because the total volume was 1 million metric tons as compared to all LME inventory of 0.5 million. The portfolio could make a profit if the price went up to $2,480. To pay a premium of $69 million, Hamanaka made a 2nd trade. ïÆ'Ëœ2nd: Hamanaka made a short strangle, combination by selling a 0.5 million $2,100 call and $1,900 put option. The portfolio could make a profit if the price remained between $1,900 and $2,140. From this transaction, he got $94 million of premium and paid for the 1st option. With 1st and 2nd strategy, total breakeven was $2,700. ïÆ'Ëœ3rd: Selling future at a price of $2,000 which increased payoff to around $1,900. ïÆ'Ëœ4th: Buying 1.35 million metric tons of $1,750 put, breakeven was $1,580. He predicted that the copper price would go down below $1,600 level. ïÆ'Ëœ5th: Buying 1.35 million metric tons of $1,800 put again, breakeven was changed to $1,680. This portfolio could make a profit slightly if the price went down below $1,700 level. ïÆ'Ëœ6th: Selling 1.2 million metric tons of $1,950 call to get $29 millions of premium. With this transaction, breakeven was changed to $1,680. However, if the copper price exceeded $1,950, Sumitomo suffered a huge loss. 1.4Lesson Learned from Sumitomo Case The Sumitomo Case explains following lessons base on internal control and risk management prospective, and it believed that if controls were in place, losses would have been detected much earlier. (a)Management Level Control: Sumitomo Corporation failed to execute a risk management practices and they believed the expertise and specialized knowledge of Hamanaka. The essence of the problem was unauthorized trading that the culprit undertook to enhance his firm’s profitability and then his own career and pay. Hamanaka tries to cover up the losses through taking more risk that end up with further losses. Setting up corporate discipline and sound Management structure is important to manage the risks. (b)Independent Transaction Monitoring: Sumitomo should create a separate and independent supervisor system within the company hierarchy to avoid these agency issues; specifically the issues between recording and checking procedures. Segregation of duties is important to prevent the malpractices. Middle and bank office should be totally separated from the front office.   (c)Corporate Responsibility: We should also consider corporate responsibility with regard to timely reporting. In the Sumitomo case, the management waited ten days until issuing a press release. Sumitomo needed some time to calculate their losses; they could have avoided additional declines in copper prices that were caused because of the rumors and uncertainty in the market. (d)Government Regulations: The regulatory agency should execute more stringent rules on the derivatives market to avoid price manipulation and impose new regulations on corporate reporting obligations so as to provide investors and other market participants with greater information regarding the organization’s willingness to take risks and capability to manipulate market prices. The official and market pressures of stringent regulation will strengthen the internal auditing and information systems of many firms and provide a check against possible management discretions. 2.Case study on the Orange Country on Derivatives Losses & Lessons Learned The purpose of this case is to explain how a municipal lost $1.6 billion in the financial market. In December 1994 Orange County stunned the market by announcing that its investment pool had suffered a loss of $ 1.6 billion this was the largest loss ever recorded by local government investment pool and led to the bankruptcy of the county shortly thereafter. The loss was the result of unsupervised investment activity of the Bob Citron, the county treasure who was dealing with the $ 7.5 billion portfolio belonging to the county schools, cities, special districts, and county itself. In the tome of fiscal restrains Citron was viewed as a wizard who could painlessly generate greater results to the investors. Citron generate 2% higher than the comparable state pool Figure 01 citron’s track record Citron was able to increase returns on the pool by investing in derivatives securities and leveraging the port folio to the hit. The pool was such demand due to its track record that citron had turn down investments by agencies outside Orange County. Some local schools districts and cities even issued short term taxable notes to the investment in the pool by increasing the leverage even further. For that there was a repeated public warning, which was by notably by John Moorlach, who ran for treasurer in 1994, that the pool was too risky. Unfortunately, he was widely ignored by Citron when he was re elected. The investment strategy worked excellently until 1994, when fed started a series of interest rate hikes that caused severe losses to the pool. Initially it was announced as a paper loss. Shortly thereafter, the county declared bankrupts and decided to liquidate the portfolio. This occurred because citron expect that interest rates would fall or stay the same, the citrons main purpose was to increase income by exploitation that the fact that medium term maturities had higher yield than short term investments. On Dec 1993, for instance short term yields were less than 3%, while 5year yield were around 5.2% .which such positive sloped term structure of interest tares , the tendency maybe to increase the duration of the investment to pick up extra yield . The boost, of cause comes at the expense of great risk .the strategy went as long as interest rates went down. In February’94 however the Federal Reserve Bank starred a series of six consecutive interest rate increases, which led to a bloodbath in the bond market. The larger duration led to a $1.6 billion loss 2.1. Lessons Learned from Orange Country Case Due to the activities of Bob Citron the municipality lost $1.6 billion in financial markets. Therefore, it is essential to understand the lessons to be learnt from the Orange Country case. (a). No autocratic decisions should make in investment activities Bob Citron was investing the funds owned by the taxpayers in risky securities in Wall Street as per his own interest. Since he managed to generate higher returns for the funds invested in the early stages Citron was viewed as a wizard. This made him over confident on his actions which resulted in huge losses at the end. When the leverage increase due to these activities Bob Citron, the treasurer was warned by John Moorlach thath the pool was too risky. However, counter arguments were widely ignored and Citron was re-appointed as the treasurer. (b). Local governments need to maintain high standards for fiscal oversight and accountability. As noted in the state auditor’s report following the bankruptcy, a number of steps should be taken to ensure that local funds are kept safe and liquid. These include having the Board of Supervisors approve the county’s investment fund policies, appointing an independent advisory committee to oversee investment decisions, requiring more frequent and detailed investment reports from the county treasurer, and establishing stricter rules for selecting brokers and investment advisors. Local officials should adjust government structures to make sure they have the proper financial controls in place at all times. (c). State government should closely monitor the fiscal conditions of its local governments, rather than wait for serious problems to surface The state controller collects budget data from county governments and presents them in an annual report. These data should be systematically analyzed to determine which counties show abnormal patterns of revenues or expenditures or signs of fiscal distress. State leaders should discuss fiscal problems and solutions with local officials before the situation reaches crisis stage. (d). Always aware of the negative side on risky investments The treasurer was assuming that interest rates would fall or stay low when he goes for huge investment activities. However, when the things moved the opposite direction and the interest rates went up the pool suffered severe losses. Therefore, always be cautious when making predictions on market phenomena. (e). Use proper statistical risk assessing methods before invest in securities An investor could use a proper risk assessment method such as Value At Risk (VAR) method to assess the market risk of the portfolio. VAR is the maximum loss over a target horizon such that there is a low, pre specified probability that the actual loss will be larger. Therefore, shareholder and managers can decide whether they feel comfortable with the given level of risk. 3.Case study on the Procter & Gamble on Derivatives Losses & Lessons Learned Procter & Gamble Co. is a Fortune 500, American global corporation based in Cincinnati, Ohio, that manufactures a wide range of consumer goods. In late 1993, Proctor & Gamble financial managers, well known for actively managing their interest costs, expected interest rates to drop and went to Bankers Trust searching for aggressive interest rate swaps that would allow them to profit on these expectations. P&G told to Bankers Trust about ways of replacing a fixed-to floating swap that was maturing. P&G’s specific objective was to negotiate a new $100 million swap that would †¢Again put it in the position of paying floating rates and †¢Squeeze these to a minimum. Specifically, the company wanted to pay 40 basis points (0.4 of 1%) less than its standard, upper-crust commercial paper rate (then about 3.25% for six-month paper). Bankers Trust responded with a highly levered, extremely risky, and extremely complex five-year interest-rate swap agreement. In this the P&G had to pay 75 basis points less than rate of Commercial Paper, if the interest rates of 30 years and 5 years treasury bills will remain constant or go down. Five-year Treasury rates rose from 5% in early November 1993 to 6.7% on May 4, 1994. P&G’s other benchmark, 30-year Treasury rates, went from about 6% to 7.3%. Because of large duration the effect of rise in interest rate on long term bonds was very high. When interest rates headed up, Proctor & Gamble’s treasurer realized the magnitude of the company’s potential derivatives losses and decided to get out of the swap. Because of the intricate complexities and linked derivatives of the agreement, however, P&G lost $157 million to lock-in interest rates (which were 1,412 basis points (14.12%) above the commercial paper rate) in only six months of a five year contract. When interest rates headed up, Bankers’ trust entered into another contract with P& G- a wedding band. When this strategy also failed, it led P& G to pay even higher rate of interest from 14.12% above Commercial Paper (CP) to 16.40% above CP. CEO Edwin Artzt, called the swaps â€Å"a violation of the company’s policy against speculative financial transactions† and banned all leveraged swaps. As the Bankers Trust had suggested the contracts, P& G blamed them for the losses. 3.1Lesson Learned from Procter & Gamble Case The Procter and Gamble Case explains following, (a)Legal dispute between P&G and Bankers: Therein lies the crux of the legal dispute between P&G and Bankers. P&G claims that before the swaps were signed, Bankers repeatedly assured it that in the early stages of the swaps, the company would be able to do lock-ins at acceptable prices. Court papers, in fact, include letters from Bankers that make such assurances, though these consistently cite assumptions of stable or only slightly rising rates. P&G says, however, that on one occasion it â€Å"pointedly† asked the Bankers Trust person with whom it was dealing what the lock-in situation on the first swap would be if rates and volatility were not â€Å"stable.† The answer, P&G says, was that â€Å"possible changes in rates or volatilities would not have a material or significant effect† on the company’s lock-in position. (b) Purpose of Deliveries: A P&G spokeswoman stressed that the transaction was â€Å"speculative and goes outside the P&G policy of conservatively managing our debt portfolio.† Asked whether the company’s treasury was expected to be a profit center. In a speech, William J. McDonough, president of the Federal Reserve Bank of New York, warned that top managements of financial and nonfinancial companies have a responsibility to understand and constantly monitor derivative markets when their companies are involved in them. Also Mr. McDonough said. â€Å"To put it simply and directly, if the bosses do not or cannot understand both the risks and the rewards in their products, their firm should not be in the business.† 4.Case study on the Showa Shell Sekiyu on Derivatives Lossess & Lessons Learned Showa Shell Sekiyu is one of Japan’s leading oil refining companies and is engaged in producing gasoline, diesel fuel, fuel oil, kerosene, lubricants etc. It was established in 1876 under Samuel Samuel & Co, and was later became a subsidiary of Royal Dutch Shell group, in 1985. And presently, 50% of shares are owned by Royal Dutch Shell Group. In the year 1993, the Company made history by making approximately USD 1.4 Bn with unauthorized forward currency transactions. As an oil importer, company imported crude oil in US Dollars and sold the end products in Yen. Showa Shell had been used to hedge a proportion of its currency exposure using foreign exchange forward contracts. In 1989, company entered into a series of forward options where it agreed to buy dollars forward at an average rate of USD 145. Over the next few years Yen strengthened ageist the dollar. However, at the time of maturing of these contracts, the foreign exchange rate was at USD 125, indicating a difference of USD 20 or a drop of approximately 14%. But, treasury department of the company decided not to recognize the losses and chose to roll over the forwards using historical rates, without appropriate internal authority. And consequently, the actual losses made were concealed within the new forward contracts, and this actually meant that the company was borrowing money under the guise of forward contracts. This practice or rather malpractice was continued until the end of 1992, and at that time the company had in excess of USD 6.4 Bn of forward contracts on their accounts, and out of this, it was revealed by the management of the company that hidden financial losses were USD 1.4 Bn. And the losses amounted to more than five times of its annual oil import at that time. Four senior executives of the company had resigned following the discovery of unauthorized currency dealing including, Kiyoshi Takahashi chairman of Showa, Takeshi Hemmi the president, who took responsibility for the dealings that resulted in the huge losses. The resignations were made as shell, one of the biggest world oil groups , reported a 28% decline in net profits. Main reason for the losses was that treasury department of the company, entering into unauthorized forward currency transactions, with the expectation of US Dollar to rise against Yen, and attention was not given to the fact of worsening the situation in case of Yen strengthening against Yen. John Jennings, then Shell Group managing director, had stated that, an unauthorized currency speculation was like â€Å"A gross contravention of established rules and practices which was deliberately canceled†. The continued dealings that were made were the result of one treasury manager trying to recoup losses amounting to single figure millions, incurred during normal course of his job, although with failures in attempts made, continues dealings were made by exposing the company to increasingly large exchange rate risks. 4.1Lessons Learned from Showa Shell Sekiyu Case These huge losses made, forced the company to focus on more tight internal controls and focus on the importance of having internal controls. Although defining of risk limits is not necessarily provide results, if proper controlling is not there to take corrective measures, in case of deviations. And furthermore, it is never advantageous to assume that market fluctuations can be predicted accurately, at all times. And if being successful in the past, it can purely be due to luck and it does not guarantee that next time would be the same. Company incurred the losses on the assumption of currency value increasing rather than decreasing. The purpose of using derivatives is to hedge the risk and not to make profits by speculating and speculators take huge risks, rather than hedging risks. Company should have focused on the fact of maintaining their crude oil import price by mitigating exchange rate risks by using the forward contracts. If a loss is made in the process of trying to maintain price level, although losses are made in the profit and loss account, the objective of maintaining price level is still achieved. This fact is very important in dealing with derivatives and should not make harsh judgments on losses made when trying to maintain price level. It is difficult to measure the exact point, where, the hedging of risks ends and being speculative starts. And in Showa case, treasury department of the company, who were there to hedge risk, had dealt as a speculator and without adhering to the internal controls and not obtaining proper approval for its dealings. In addition, it took more than four years to recognize this malpractice by the higher authorities, which pin points the lack of transparency in accounting practices. And it was blamed by some experts on the Japanese accounting system, since the dealings were not identified earlier. And the dealings were only revealed by chance, during a conversation between a Japanese bank manager and Showa manager.