Saturday, August 31, 2019

Role of Money Market in Economic Development of Nigeria

Discount Houses Operations, the Money Market and the Nigerian Economy: A Preliminary Investigation C. B. Ezirim and F. E. Enefaa Abstract This paper investigates the relationships subsisting between the operations of discount houses and the performance indices of the money market and the general economy. The method used involved the estimation of regression models and subsequent analysis of results using conventional statistics. The findings indicate that positive and significant relationships existed between the indicators of discount houses and those of the money market and the macro economy.Thus, the operations of these houses reserve the potentials to boost the performances of the money market and the economy considerably. This calls for policy options that would favor the encouragement of existing houses and licensing of new ones to adequately carter for the needs of the overall economy. Introduction It has been underscored that discount houses play very important roles in stimu lating investments in the economy and in boosting the general operations of the money market.Not only do they serve as catalyst in the market, they are, on their own, large-scale investors in the money market as well. Their role in facilitating profitable open market operations is worth stressing (CBN, 2004; Ezirim, 2005). Notwithstanding these and other roles performed by discount houses in a typical economy, the Nigerian money market operations are said to be sub-optimal in terms of engineering desired growth in the economy. The observed sub-optimality of the Nigerian money market is blamed, in part, on the poor performance of discount houses and other money market institutions.Discount houses, from the onset of their operations in the country, were expected to cause the Nigerian money market to operate optimally. Since the money market is yet to achieve this objective, can we then say that the discount houses have failed in their expected duties? It is the burden of this study to ravel the true position by x-raying the relationships between relevant variables representing the operations of the money market and those of the discount houses.Furthermore, the entire activity of the discount houses is expected to directly or indirectly boost aggregate domestic investment, output, and income. The levels of these macro magnitudes, even with the advent of discount houses, have left much to be desired. Does this suggest that these institutions, alongside others, have failed in their critical duty to the economy? The need to investigate the relationship between the 94 operations of these financial institutions and relevant macro indicators is only rife.It is, therefore, main purpose of this study to analyze the operational performance of discount houses in a bid to see how they relate with the general performance of the money market and the macro economy. Theoretical Framework and Review Concept and Roles of Discount Houses Discount houses are recent but novel develo pments that are meant to further the catalytic processes in the economic advancement of the less developed countries (LDCs) like Nigeria, especially in the money market sub-sector.By definition, discount houses are financial institutions devoted to trading in money market securities in the secondary market. As in Ezirim (2005), discount houses (DHs) were established to serve as financial intermediaries between the Central Bank of Nigeria (CBN), licensed banks, and other financial institutions. DHs mobilize funds for investments in securities by providing discounting/rediscounting facilities in government short-term securities.According to Central Bank of Nigeria (2004: 1) Revised Guidelines for discount houses in Nigeria, â€Å"a discount house means any person in Nigeria who transacts a discount house business which in the main consists of trading in and holding of treasury bills, commercial bills and other securities and whose operations are in the opinion of the CBN those of a d iscount house†. Local Banks and other financial institutions including insurance companies, with or without the participation of international finance institutions acceptable to the CBN, can subscribe to the shares of a iscount house business. However the maximum permissible equity holding for any single investor in a discount house is 40%. Kakawa Discount House Ltd. (2005) provided a distinct approach to understanding the discount house phenomenon. To them, a discount house is a specialist financial institution, which intermediates in the money market by accepting short-term monies for onward investment in short-term financial securities from commercial, universal, investment and development banks, building societies, other financial institutions and high net worth individuals.They are credited with playing a vital role in the Nigerian Monetary System by sitting at the centre of the money market, and offering the safest avenues available for investment in Nigeria today. They invest mainly in government treasury bills and to a lesser extent in commercial bills issued by blue chip companies, and accepted by creditworthy bank. Their principal specialization is in providing primary liquidity in the Nigerian financial sector through the buying and selling of security in huge volumes for very short period of time.A discount house in Nigeria is a specialist financial institution that acts as an agent for facilitating the Open Market Operation (OMO) allocations; and as a market marker in Nigeria money market. Ajie and Ezi (2001) maintained that the establishment of discount house in Nigeria has been an important development that led to an increased level of activity, fund flows and growth of the money market. 95 Establishment and Raison d’etre of Discount Houses in Nigeria Discount Houses were set up by the provisions of Section 28, of the Central Bank of Nigeria (CBN) Decree No. 4 of 1991 and sections 61 of Banks and Other Financial Institutions (BOFID) Decree No. 25 of 1991 as amended. Three discount houses commenced operations in 1993 while two others joined between 1995 and 1996. Discount Houses were primarily created in Nigeria to carry out the following functions: (a)Promotion of rapid growth and efficiency in the money market; (b) Acting as an intermediary between the CBN and licensed banks in Open Market Operations (OMO) transactions and other eligible transactions; (c ) Facilitating the issuance and sale of short termGovernment securities, (d) Providing discount/re-discount facilities for Treasury Bills, Government Securities and other eligible financial instruments; (e) Accepting short-term investments on an intermediary basis from banks and wholesale investors; and (f) Providing short term financial accommodation to banks. The CBN injects or withdraws funds from the money market through the Discount Houses, whose operations will enable them serve as a mirror with which the CBN gauges the liquidity position in the market. Discount Houses help banks to adjust their books on a daily basis, resulting in the stimulation of the money market and paving the way for healthy growth, efficiency and professionalism. Following the recent CBN 2004 Guidelines, the functions of a Discount House were expanded to include: (a) Providing portfolio and funds management services, (b) Providing financial and business solutions, and (c ) Other functions that may be prescribed by the CBN from time to time (CBN, 2004).Regulation and Control of Discount Houses in Nigeria The Central Bank of Nigeria (CBN) and the Securities and Exchange Commission (SEC) regulate and control the activities of the Discount Houses. In a bid to keep Discount Houses secure, the CBN strictly regulates them through daily, weekly, monthly, semi-annual and annual reporting of their statement of affairs while relevant quarterly reports are sent to SEC. This keeps the regulatory agencies continuously informed of the situation prevailing in the Discount H ouses on a daily basis ( Kakawa, 2005).In terms of prudential requirements, the CBN (2004) required that every discount house shall: (a) transfer to the statutory reserve a minimum of 15 percent of profit after tax if the reserve fund is less than the paid-up capital and a minimum of 10% if the reserve fund is equal to or more than the paid-up capital; (b) maintain capital funds to risk assets ratio of 1:13 and cash asset ratio (CAR) of 10% or as may be prescribed by the CBN from time to time; (c ) not exceed a maximum ratio of 50:1 between its total borrowing and capital plus reserves without the prior approval of the CBN; (d) not grant to any bank, facility of more than 75% of its shareholders’ funds unimpaired by losses without the prior approval of the CBN; (e) (i)at all times maintain not less than 60% of total borrowing in government securities; (ii) Any discount house which fails to maintain the 60% of borrowings in government securities is guilty of offence and liable to fine as stipulated in Section 15(4)(b) of BOFIA as amended. (f) shall classify and make provision for its risk assets in line with prudential guidelines for banks; (g) maintain proper books of accounts; (h) every discount house shall display its daily rates or interest in a conspicuous position in all its offices; (i) 96 hanges in the discount house’s top management and Board of Directors shall be subject to the prior approval of CBN; (j) every discount house shall appoint an auditor approved by the CBN whose duties shall be to make to the shareholders a report of their annual balance sheet and profit and loss account. The qualifications, duties, powers and responsibilities of the approved auditors shall conform to the provisions of Section 29 of BOFIA 1991, as amended; and (k) all repurchase transactions (Repos) by discount houses shall be reported on the balance sheet if the securities used are owned by the discount houses with the affected assets remaining in the books of the sellers (discounting houses), while the cash received by them shall be recognized as a liability (CBN, 2004). Services and Financing of Discount Houses Discount Houses offer a wide range of financial products to Banks, Non-Bank Financial Institutions and the general public.The main services include: (a) Securities trading which includes buying and selling of: Treasury Bills, Treasury Bonds, Government Bonds, and Commercial Bills; (b) Accepting short-term investments from banks and providing short-term accommodation to banks; (c) Short-term financial intermediation through the acceptance of funds and simultaneous investment of the funds in: Commercial Papers, Bankers Acceptances, Government Securities; (d) Providing personalized wealth management to high net-worth individuals through a network of investment managers, financial consultants and other specialists; (e) Effective portfolio management on both discretionary and non-discretionary basis through the provision of medium to long term investment management services to: Pension funds, Private clients, Employee Schemes, Trustees of family settlements and charities; and (f) Providing Business Solutions in: Financial Arrangement and Management, Mergers and Acquisitions, Privatization, Business Assessment, Business Structuring, and Data Resource and Management (kakawa Discount House Ltd. , 2005) The Sources of funds for discount houses in Nigeria included: (a) Equity – Paid- up Capital and Reserves. (b) Call money and short-term borrowings of not more than three years maturity. (C) Call money placed by banks with discount houses shall form part of the specified liquid assets of the respective banks for the purpose of the liquidity ratio requirement. d) A discount house that is short of funds may: (i) obtain from the CBN an overnight advance against acceptable collateral. However such an advance shall not exceed 20 percent of the total assets of the discount house and shall not in any event be gran ted if the discount house has exceeded the borrowing limit as prescribed by CBN; (ii) sell short-term bills and/or other securities to the CBN. The CBN shall provide rediscounting facilities for treasury and other eligible securities; and (iii) enter into Repurchase transactions with the CBN using eligible securities. The short-term nature of the liabilities of a discount house requires that its assets be substantially liquid.The assets of a discount house shall consist of the following: a) Treasury Bills; b) Treasury Certificates; c) Negotiable Certificates of Deposit (NCDs); d) Bankers’ Acceptances; e) Commercial Papers (eligible); f) Asset-Backed Securities (of not more than three years to maturity); g) Federal Government Development 97 Stocks (development stocks not exceeding five years); h) Eligible State Bonds (bonds with not more than five years to maturity); i) Promissory Notes issued by State Governments; and j) Any other securities that may from time to time be appr oved by the CBN. Discount Houses, Open Market Operations, and the Money Market Open Market Operations (OMO) is an indirect monetary policy technique that is used to control the level of money supply.It involves the sale/purchases of money market instruments in the open market. In Nigeria, the money market instrument used for OMO auctions is the Treasury Bills. Discount houses are the exclusive agents, in the conduct of OMO in Nigeria. OMO auction are held on a weekly basis. Presently, the notice is put out on Wednesday. Banks and other participants forward their bids to the discount houses on Thursday whilst the results are released the following day, Friday. The Discount House submits bids from authorized dealers, including its needs for OMO instruments, to the Central bank and facilitates the payments and settlement of the transactions.The money market is a wholesale market for low risk, highly liquid, short-term debt instruments. Shortterm refers to a tenor of less than one year. In Nigeria, the instruments traded in the main are Treasury Bills, Bankers Acceptances and Commercial Paper. The heart of activity in the money market occurs in the dealing rooms of discount houses and banks. Each day, billion of Naira is traded between operators in the money markets (CBN, 2004; Kakawa, 2005). Performance of Discount Houses in Nigeria Since inception, the discount houses have especially increased the level of activity in the secondary market for government securities. This is apparent from the volume of treasury bills currently held by banks. This increased from N5,181. million in 1992 to N38,286. 8 million in 1994. This is very remarkable when we consider that the treasury bills issued by the CBN had shown a downward slide from N81152. 1 million in 1992 to N30633. 2 million in 1994 and N20247. 7 million in 1996. As at 2002, there were 5 discount houses operating in Nigeria. Relative to their performance in 2001, they recorded significant growth in 2002. The total assets of the 5 operating Houses amounted to N57. 3 billion at December 2002 and N67. 3B as at the end of 2004 ( See Table 1 below). Total funds available amounted to N28. 7 billion compared with N9. 7 billion in 2001. The funds were sourced mainly from money-at-call (N13. billion), other amounts owed to bank and non-bank customers (N11. 7 billion), accretion to capital and reserves (N1. 6 billion), and reduction in cash and balances with banks (N1. 5 billion). 98 Table 1: Selected Indicators of Discount Houses, Money Market and Nigerian Economy Discount Houses Shareholders’ Funds (DHSF) NM 1993 436. 0 1994 565. 7 1995 865. 6 1996 1251. 7 1997 1430. 5 1998 1710. 3 1999 2136. 5 2000 3730. 7 2001 4948. 6 2002 6511. 0 2003 7679. 0 2004 9924. 5 Source: CBN Annual Reports, various years. Year Discount Houses Assets (DHASS) NM 4,461. 8 9,583. 2 3,431. 9 1,178. 4 6,996. 1 7,842. 6 15,049. 6 30,260. 8 32,353. 7 57,282. 52,731. 2 67,346. 2 The funds were largely utilized for investmen ts in government securities (N19. 7 billion), settlement of claims to banks (N2. 4 billion), and acquisition of other assets (N2. 4 billion) among other uses (CBN, 2002: 42, 43). The Central Bank (2004a) reported that the level of activities of discount houses recorded relatively improved performance in 2004 relative to compared with what obtained in 2003. The total assets/liabilities rose from N52. 7 billion in 2003 to N67. 3 billion in 2004, representing an increase of N14. 6 billion or 27. 7 per cent, while the total funds sourced amounted to N22. 6 million, compared with N15. billion in the preceding year See Table 1). The funds were sourced mainly from non-bank customers (N8. 1 billion), reduction on claims by banks (N5. 7 billion), and an increase in reserves (N2. 2 billion). The funds were utilized mainly in the purchase of Federal Government securities of less than 91-days maturity (N16. 2 billion). Discount houses’ investment in Federal Government securities of less than 91 days maturity amounted to N38. 1 billion at end-December 2004, representing 80. 1 percent of their total deposits liabilities. This was 20. 1 percentage points higher than the prescribed minimum of 60. 0 per cent for fiscal 2004 (CBN, 2004a).These show how important the impact of the discount houses has largely been felt in the level of activity and nature of holding of government debts instruments. Research Methodology Design of the study and Data: The study investigates the effect of the operational Performance of the discount houses on the Nigerian economy. The method employed included the estimation and analysis of regression models. For the purpose of this study, the research design used was the investigative research method which is mainly biased to inferential statistical analysis (Baridam, 2005). This study was intended to cover the entire discount houses operating in Nigeria.Accordingly, time series annual data 99 covering the period of 1993 through 2004 were obtain ed and analyzed. The Annual Report and Statement of Account of the CBN for various years constituted the sources of the time series data for the estimations. Operational Measure of the Variables: The dependent variables in this study are the operational performance indices of the money market and the entire economy, namely the total value of operations of the money market and the real GDP respectively. The independent variables are the operational performance indices of the discount houses, namely the discount houses shareholders’ fund (DHSF) and discount houses assets (DHAS).Data Analysis Techniques: Besides the desk research method which informs an extensive review of the theoretical underpinnings related to this topic, the study involved the estimation of conventional regression models as earlier mentioned which assisted in analyzing the data. The ordinary least square (OLS) technique was also adopted using the SPSS software for the estimation of the variables. The tand F- tests were used to test for significance of the results obtained. Hypotheses, Estimation Results, and Analysis Two hypotheses were formulated to the intent of finding the nature and magnitude of relationship existing between discount houses operations, on one part, and the money market operations and the general economic activity of the country, on the other. The resultant linear regression models were estimated and analyzed below. Relation between Discount Houses’ and Money Market Operations The first ypothesis states that: there is no significant relationship between the country’s money market operational performance and the operations of discount houses in the country. As expected the regression statistics were calculated using the SPSS computer software programme. The indicator of the money market, namely money operations from 1993 through 2004 were regressed against the indicator of discount houses, namely, the total capital injections (shareholders fund – DHSF) of discount houses on one part, and total assets of discount houses (DHAS) on the other. This procedure yields two subhypotheses: one relating money market operations (MMOP) with discount houses shareholders’ fund (DHSF) and the other linking MMOP with discount houses assets (DHAS).The results of the computations are summarized on Table 2 which depicts the regression results of relations between the above variables. In each case, the MMOP remained the dependent or explained variable, while the DHSF and DHAS were the independent variables. As shown by the Table, for the MMOP-DHSF relation, the observed coefficient of regression was 0. 995, while the same statistic was observed as 0. 978 for the MMOP-DHAS relation. 100 This suggested that the degree of association between the money market performance and the discount houses’ operations was very high, being at least 97%. The observed high degree of relationship was confirmed by each of the coefficient of determinat ion (r2) of 0. 91 and 0. 957 respectively. The results of the r2 showed that at least 95. 7% of the variations in money market operations can be attributed to the effects of discount houses’ operation, when the explanatory variable was DHAS. Table 2: Regression Results Showing Relationship between Discount Houses and Money Market Operations Independent Variables Statistics DHSF DHAS Coefficient of Regression (R) . 995 . 978 Coefficient of Determination (r2) . 991 . 957 Adjusted R Square . 990 . 952 F-Ratio 1050. 12 220. 522 Significance Level of F . 000 . 000 Regression Coefficient (beta) . 995 . 978 t-Statistics 32. 406 14. 85 Significance level of t . 000 . 00 * Dependent variable is MMOP. Source: Computer Printout (SPSS) The level of explained variation when the explanatory variable was DHSF was 99. 1%. The range of the degree of explained variation attributable to the models, thus, was between 95% and 99%. After adjusting for the effects of small sample size (number of ob servations) and number of independent variable (which remained constant however in each case implying that only sample size was adjusted), the adjusted coefficient of determination, r2, were 0. 99 for DHSF and 0. 952 for DHAS. By implications after the necessary adjustments, the proportion of explained variation remained at between 95% and 99%.The F-ratios of 1050. 12 for DHSF variable and 220. 522 for DHAS variable are all significant at 1% level or less (P = . 000 in each case). This implies that the relationships between MMOP and DHSF and DHMS are statistically significant at the conventional levels. The relative effects of each independent variable as denoted by the t-statistics are equally computed to be statistically significant as expected (t = 32. 406 for DHSF and t=14. 85 for DHAS; P= . 000 in each case) at 1% level of significance. Given these, we cannot accept a null hypothesis of no significant relationship between operations of the money market and those of the discount houses.Thus, there is a statistically significant relationship between discount houses operations and money market performance in Nigeria. Discount houses operating in Nigeria affect the Nigerian money market both positively and significantly. Relationship between Aggregate Economic Performance and Discount Houses Operations The second hypothesis attempts to know whether or not the general economy has been significantly impacted by the discount houses’ operations in the country. This hypothesis stated in the null is as 101 follows: There is no significant relationship between the aggregate economic performance represented by the GDP and the operations of discount houses in Nigeria.Table 3: Regression Results Showing Relationship between Discount Houses’ Operations and Real DGP Independent Variables Statistics Coefficient of Regression (R) Coefficient of Determination (r2) Adjusted R Square F-Ratio Significance Level of F Regression Coefficient (beta) t-Statistics Sign ificance level of t DHSF . 971 . 943 . 937 163. 97 . 000 . 971 12. 805 . 000 DHAS . 947 . 898 . 887 87. 705 . 000 . 947 9. 365 . 000 * Dependent variable is real GDP. Source: Computer Printout (SPSS) The regression statistics were calculated using the SPSS computer software program. The indicator of the economy namely Real GDP from 1993 through 2004 were regressed against the indicators of iscount houses, namely, the total capital injections (shareholders fund – DHSF) of discount houses on one part, and total assets of discount houses (DHAS) on the other. This procedure yielded two subhypotheses: one relating Real GDP (RGDP) with discount houses shareholders funds (DHSF) and the other linking RGDP with discount houses assets (DHAS). The results of the computations are summarized on Table 3 which depicts the regression results of relations between the above variables. In each case, the RGDP was treated as the dependent or explained variable, while the DHSF and DHAS were the in dependent variables. As shown by the Table, for the RGDP-DHSF relation, the observed coefficient of regression was 0. 971, while the same statistic was observed as 0. 947 for the RGDP-DHAS relation.This suggested that the degree of association between the aggregate economic performance and the discount houses’ operations was very relatively high, being at least 94%. The observed high degree of relationship was confirmed by each of the coefficient of determination (r2) of 0. 943 and 0. 898 respectively. The results of the r2 showed that at least 89% of the variations in aggregate economic activities can be attributed to the effects of discount houses’ operations, when the explanatory variable was DHAS. The level of explained variation when the explanatory variable was DHSF was 93. 7%. The range of the degree of explained variation attributable by the models thus was between 89% and 94%. 102After adjusting for the effects of small sample size (number of observations) and number of independent variable (which remained constant however in each case implying that only sample size was adjusted), the adjusted coefficient of determination, r2, were . 937 for DHSF and . 887 for DHAS. By implications after the necessary adjustments, the proportion of explained variation remained at between 88% and 93%. The F-ratios of 163. 97 for DHSF variable and 87. 7 for DHAS variable are all significant at 1% level or less (P = . 000 in each case). This implies that the relationships between RGDP and DHSF and DHAS are statistically significant at the conventional levels. The relative effects of each independent variable as denoted by the t-statistics are equally computed to be statistically significant as expected (t = 12. 8 for DHSF and t = 9. 4 for DHAS; P= . 00 in each case) at 1% level of significance. Given these, we cannot accept a null hypothesis of no significant relationship between aggregate economic activities of Nigeria and operations of the discount houses . Thus, there is a statistically significant relationship between discount houses operations and economic performance of Nigeria. Discount houses operating in Nigeria affect the Nigerian economy both positively and significantly. Concluding Remarks It was thus the main purpose of this study to analyze the operational performance of discount houses in a bid to see how they relate with the general performances of the money market and with the macro economy.Put simply, the study investigated the effects of the operational Performance of the discount houses on the Nigerian money market and the economy. The method employed included the estimation and analysis of regression models. The results indicated that: there is a statistically significant relationship between discount houses operations and money market performance in Nigeria. Discount houses operating in Nigeria affect the Nigerian money market both positively and significantly. Furthermore, there is a statistically significant rel ationship between discount houses operations and economic performance of Nigeria. Discount houses operating in Nigeria affect the Nigerian economy both positively and significantly.The results suggest that the establishment of discount houses has been shown to be one of the potent measures that have tremendous potentials to strengthen and cause real growth to the money market and the economy. In keeping with the above, the Government and the Central Bank should endeavor to license more discount houses since their operations are beneficial to the country. The five discount houses currently operating are too few to satisfy the requirements of a vast country like Nigeria. The opearational Houses and the authorities should also endeavor to awake the consciousness of the investing and the business public to proper usage of the facilities and services provided by discount houses.Candid awareness should be provided and information made available to the investor public to know which discoun t house is performing better and good for patronage. The management of the operating discount house should endeavor to improve in their service offerings to their customers especially in the area of making their discount charges to be reasonably competitive. This could also improve the clientele level of the 103 operating discount houses in the economy. It is important that discount houses’ management, investors and government critically analyze and understand the effect of under-utilization of services or facilities provided by discount houses.It is the humbly suggestion of the authors that further empirical works be carried out on the identified relationships using more powerful and sophisticated tools and larger number of observations such as in the cases of monthly and quarterly data. Comparisons between the Nigerian experiment and the experiences of other developing countries should also be made. These would assist the general understanding of the unique roles of discoun t houses in the less developed countries. 104 References: Ajie, H. A. and Ezi, C. T. (2001) Financial Institutions and Markets, Paragraphics Publishers, Enugu. Baridam, D. M. (2005) Research Methods in Administrative Sciences. NTA Road, Port Harcourt. Sherbrooke Associates. Central Bank of Nigeria (2002) Annual Report and Statement of Accounts. Abuja: CBN Press. Central Bank of Nigeria (2004) Revised Guidelines for Discount Houses. CBN Press.Central Bank of Nigeria (2004a) Annual Report and Statement of Accounts. Abuja: CBN Press. Ekezie, E. S. (1990) Elements of Banking. Ibadan: University of Ibadan Press. Ezirim (2005) Finance Dynamics: Principles, Techniques, and Applications. Port Harcourt: Markowitz. Federal Government of Nigeria (1991) Banks and Other Financial Institutions (BOFID) Decree No. 25 of 1991. Lagos: Government Press. Federal Government of Nigeria (1991) Central Bank of Nigeria (CBN) Decree No. 24 of 1991. Lagos: Government Press. Kakawa Discount House Limited (2005 ) Discount Houses in Nigeria. www. Google. com, Accessed October 2005. Layi Afolabi (1992) Law and Practice of Banking. Lagos: Lagos University Press. 105

Friday, August 30, 2019

The Significance of Cultural Differences for Foreign Companies

My essay is about significance of cultural differences for international companies which want to set up a business in China. To do a clearly demonstration, I break it down into 3 parts: First is an example that the culture differences affect international companies in China; Second is the significance of these cultural differences; Third is how the companies would overcome them. For the first part, there will be examples of international companies which set up a business in China. As we know, since China joined the WTO in 2001, many foreign companies were attracted by China’s huge market and lower labour cost. But some of them experienced hard times when they came into Chinese market. The unfamiliar of the cultural difference is a very important factor. From their experience, we can have a direct impression of how the culture differences would trouble for foreign companies in China. Second part is very important. As I choose China as the country. I will try to show some Chinese features, which are the Chinese cultural difference from others. I will to analysis why the cultural differences are significance and what effects they will cause. Real evidence will be given to support my idea. The third part is most critical, because it is not enough for us just know about the problems. We should find out ways to solve them. I will from four parts to demonstration, and try to cover the ways which can both improve the ability of foreign companies to deal with cultural difference in China as possible as I can. Example that the culture differences affect international companies in China: Looking back at past, we can find that China has been the first place of absorbing international capital in all developing countries for nearly 18 years. Since China joined the WTO in 2001, many international companies had been attracted by China’s huge market, lower labour cost, preferable government policies for foreign investors. But in fact, we can easily find some of them had come across a hard Why KFC had a better development than McDonalds? The reason is KFC was more careful to deal with culture difference in China. Before the year 2004, the McDonalds focus their customer group on children, and then parents and young people. Meanwhile, KFC focus on young people, then children and parents. We cannot say McDonalds strategy was wrong, because it brought great successful for it in USA. But it is not suitable in China. A survey made by China Chain Operation Association (CCFA) showed that no matter in the ratio of customers number or the ratio of money consume, the young people account for more than 60%. After 2005, McDonalds push-off its new series called â€Å"I just like it†, and changed their strategy to young people, the situation came better. This is an example of difference of the market positioning caused by the culture difference. [3] The McDonalds’ failure was not only because of this. It also ignored that people in different culture background may have different tastes. The GADLING website (2005) [4] showed that before 2005, while KFC began to create some news kinds of foods which were fit for Chinese people’s tastes, such as the Traditional Peking Chicken Loaf, Tomato and Egg Soup, the McDonalds still insisted on its western taste hamburger. In this period, the McDonalds had to cut half price to attract customers. And there was a thing which had a very bad influence about McDonalds. The Sina website [5] has some details about it. In June, 2005, McDonalds pushed a new advertisement. One scene of this advertisement is a man kneels down to beg the McDonalds lengthen the promotion period. This advertisement caused a very bad effect. Because in China, kneel down is very important and serious thing. Chinese people think kneel down to others is a sign of lost dignity. In some countries, people may regard it just as a funny advertisement. But in China, this kind of advertisement should be avoided. This is the difference of philosophy caused by different culture. It is also which the international company should be careful. The McDonalds’ example shows us how the cultural differences affect international companies in China. Then, in the following part, I will give a more clearly demonstration based on real evidence and shows what are the China’s specificity and why the culture differences is significance for international companies in China. Significance of cultural differences in China Culture is a very widely identity. For a company, we usually consider two main parts: the national culture, and the corporate culture. So when talk about Chinese culture’s influence to international firms, I will include both Chinese national culture and Chinese corporate culture. For Chinese national culture, we need to consider many parts, such as the philosophy. Because of the long history, China has formed very complete and complicated philosophy, which has a great different from western countries. Some traditional ideas are still kept in every Chinese people’s mind. A simple example is the advertisement of McDonalds mentioned above. Kneel down in China could never be a joke or used in an advertisement. Because of the influence of Confucianism, Chinese people in some parts are more conventional than western people. Some things which have a strong sex and violence implication may be forbidden by the government. The Techcn website (2009) [6] has showed that one of the reasons why Google suffer from a failure in China in 2007 is the Chinese most powerful media CCTV made it public that Google can link to some porn websites. It would be a common thing in some countries, but in China, this let Google at the disadvantage. â€Å"Abstract, Characteristics of national cultures have frequently been claimed to influence the selection of entry modes† (Bruce Kogut) [7]. After these years of developing, Chinese market has formed its own potential market culture. It means the sales models which are successful in other countries may not work in China. To take Best Buy for an example, as the world chain electronics giant, the Best Buy didn’t have a satisfactory performance in Chinese market. An report on Netease website (2010) [8] shows that after Best Buy opened the first shop in China in 2006, it only opened 7 shops in the following 4 years. And in the 2009, while the Best Buy had done a good job in global market, which has about 45 billion dollars sales, it didn’t make a profit in Chinese market. One important factor is Best Buy insisted on its traditional model, decorated the shop and hired the sales promotion person by themselves. But in China, these things are always hand to the suppliers. This cause high cost for Best Buy and also caused for discontent of the suppliers. The suppliers in China were not like the ways which Best Buy play down the publicity of product brands, while enhance the publicity of its own brand. If Best Buy can not get the support of Chinese suppliers, its failure is an understandable result. This kind of potential market rules are critical but easily to be ignored. How to overcome cultural differences After discussed the significance of cultural difference, and the bad effects they will make, we should try to find ways to overcome them. To deal with this, I will from 4 parts to analysis. First is the foreign companies should find a suitable management mode. The reason of some foreign companies failed in Chinese market was their management mode didn’t adapt to Chinese market to a large extend. Like Best Buy I had mentioned above, even though its management mode had been proved successful in North America. It didn’t work well in China. In my personal view, the main advantage of foreign companies is their tremendous capital and their foreign background. So when the foreign companies enter Chinese market, they can learn the management mode which Chinese native companies have. Then they can use their advantages to have a foothold in the Chinese market, and continuing complete their management mode based on their improved understanding about Chinese market. Second is the companies should do clearly and comprehensive market research before they come into Chinese market. The researches which are just about the market prospect are not nearly enough. They should investigate other things like Chinese culture, government policies, the operating mode of market. These kinds of research can provide the companies much more clearly understanding about Chinese market. At least they will not make some silly mistakes when they enter Chinese market. Third is about the employ of staff. To employ staff, the companies can give priority to overseas students and the people who had the experience of working in other foreign companies. These kinds of people are more easily to adapt to the different kinds of culture in the companies. Meanwhile, they can deal with things based on Chinese practical situation, which means more efficient in sometimes. And in my opinion, the top level of the company’s Chinese branch should have at least one Chinese people, it is not only because he or she has a deeply understand about China, but his or her personal networking with others can bring some help for the company. It is also kind of Chinese specific culture, networking with others sometimes are as important as own strength. The last one is staff training and internal management [10]. The foreign company should pay attention on the training of staffs. For the Chinese staffs, the training should include the part of training them to adapt the company’s culture and ways to deal with things. For the staffs from the home country, the company should train them about the Chinese culture, at least the part in relation to their professional business. And the internal management should consider about Chinese people’s value view and norms, it should be more humanization and can provide the staffs a more stable life, that’s what most of Chinese people desirous. Conclusion: To summarise, the cultural different is a very important problem which troubles most of foreign companies. For these companies, the incomprehension of Chinese people’s and market’s view about value and norms is one of the factors which limit their development in China. Things like the potential market culture of China; the cultural conflicts inside and outside the company; the different taste and tendency for Chinese people had brought a lot of problems for the foreign companies. That’s why some foreign companies which are very strength didn’t perform well in China. To overcome those problems caused by the cultural difference, the companies should do clearly and comprehensive researches for different parts of China and Chinese culture, and they should not overconfidence about their management mode even they are successful in other countries. Meanwhile, the companies should try to employ the people who are familiar about China. It can help the companies blend in Chinese society and market. The companies should also enhance the training of both Chinese staff and staff from home country. It will reduce the conflict between two cultures in the company. A humanize internal management mode and treatment which can provide staffs more stable life will also be helpful to attract Chinese people and reduce the rate of job-hopping.

Thursday, August 29, 2019

Globalization and Religion in Latin America Essay

Dr. Marian Cusimano Love’s argument on globalization is very clear and straight forward as she pointed out the other side of globalization, which according to her creates institutional crises â€Å"as existing states and regimes are having difficulties in coping with the challenges globalization brings† (p. 2). She contends that this difficulty creates and exacerbates institutional gap. The institutional gap according to the author is that while globalization is at fast pace, institutional responses is slow. The problems move faster than the solutions to it and this cannot be managed by any government alone even by the strongest state in the world. However the author’s emphasis falls on the institutional gap that exists between the rich and poor countries. Here, the author rightly pointed out the wide discrepancy of the rich and poor countries in the sharing of the benefits of globalization. The author argues that only the rich countries led by the United States enjoy the benefits of globalization as the world economy is ruled by Multinational Corporation, which only cares about profits while the states seek wealth and development. Thus, the author pointed out that whether globalization is driven by multinational companies or by powerful states,† many observers decry the ethical basis of globalization is driven by an ethic of crass materialism and consumption, or western cultural imperialism† (p. 4) As the ethical issue widens, the author emphasized that today more than half of the world’s population are not getting any benefits of globalization, and human development is unfulfilled, sacred creation is destroyed, and human life is lost. This emphasis clearly implies a strong course of action in favor of the poor people or poor states that cannot advance or protect their interest in the global economy. The author noted that this problem is looming and worsening as the world’s poorest population is growing which will further enhance the gap between the rich and the poor. The author’s discussion of the unequal sharing of the benefits of globalization calls for a unified response from rich countries on the growing ethical concerns between the rich and poor countries, because, after all poor people are also sacred creation. But as the author turned to religion to search for answer to the growing institutional and ethical crises brought about by globalization, it appears that this is not possible as the corporations and states are not only engines but are both engine and beneficiaries of globalization. In turning to religion, the author presented an entirely different view from that of the states or corporation. The author noted that corporations view people as a source of profit while the state sees people as a subject to be governed or taxpayers. Religion sees people not as an instrument or a servant or useful object, but a spiritual being created by God, therefore he must be independent. He has the right to share in the blessings, which is the product of economic development. The author argues, â€Å"Religious organization has long been playing an active role in globalization† (p. 5), and can be a mediating institution in the institutional and ethical gap between the rich and the poor. I believed that the author is right in saying that religious organization â€Å"may have some advantages in responding to these institutional gaps, to help manage the problem of globalization† (p. 6). Indeed, many religious international organizations are doing exactly these things. The author cited that there is already a course of action taken in coordination with the Roman Catholic bishops of Latin America and the Canadian Bishops Conference, which is a seminar on debt relief for heavily indebted poor countries. This is important course of action because it proves that religious institution can indeed fulfill the task of bridging the gap between the rich and the poor. The Latin American Catholic bishops were coordinated for the conference for the reason perhaps that many of the world’s poorer country is located in Latin America. It is where most of these ethical problems relating to benefit of globalization are generally experienced. In bridging the gap by the Catholic Church, the author pointed out that the US bishops and the United States Catholic Church â€Å"may not be well equipped to bridge the gaps created by global problems† (P. 8) as US Catholic bishops are not quick to make decisions, and â€Å"many developing countries believed that globalization benefits the US at their expense† (p 8). I think these reasons are valid, as it has been mentioned in this paper that the US along with other rich countries and multinational corporations are the ones who get most of the globalization benefits. But Catholic Church is a global institution with highly organized yet centralized leadership, which would be ideal in mediating or bridging the gap created by the problem of globalization. The Latin American Catholic Church can perfectly facilitates this bridging as the economy of most Latin American nation belongs to the third world economies. They maybe fully know the whole agenda of bridging the gaps between the poor and the rich economies of the world. The author noted that the Catholic Church has over 2000 years’ experience as a global institution, which made the Catholic Church deserving of the task. Furthermore the author pointed out that â€Å"globalization brings institutional gaps, but the Catholic Church has rich, extensive networks and institutions, from schools and hospitals to parishes and social development agencies, which are not only service oriented but in it for the long haul† (p.8). Religion bridges the institutional gap of rich and poor by presenting alternative visions of globalization, which is seeing people not as market, nor instrument but people of God that participate in the benefits of globalization. Work Cited Love, Maryann Cusimano. Bridging the Gap: Globalization and Religion, and the Institutions of the U. S. Catholic Church. USA: American Academy of Religions Conference, November 20, 2001.

Wednesday, August 28, 2019

Statistics in Business Essay Example | Topics and Well Written Essays - 500 words - 2

Statistics in Business - Essay Example ii. Inferential statistics is the second type that deals with the collection of samples from a large statistical set of data and deducing general conclusions. Therefore, descriptive statistics summarizes business data while inferential statistics computes the same information in the form of representative samples. i. Nominal statistics. It is the categorical discrete data for example names that represent the units being measured. In business such names may include examples like the types of cars being sold or the organizational department involved in a particular transaction ii. Ordinal or Rank. Refers to the ordering or ranking of the quantities being measured. A business empire may choose to rate its departments in a particular order of merit when conducting statistical analysis iii. Interval data. It is similar to ordinal in terms of ranking except for the fact the intervals between statistical values are split on an equal basis. Financial information appertaining to a business can be split orderly to create equal intervals to aid in statistical analysis iv. Ratios. Show statistical relationships between various sets of data. Therefore, comparison of financial and other statistical business information is made possible. Examples of business ratios are liquidity, profitability and efficiency Statistics gives a scope of the market and enable the managing body of a business to plan appropriately for the customers. When statistical analysis is conducted on a representative sample of customers, the process becomes cost-effective because not every customer has to be involved. Therefore, the organization is able to formulate a cost-effective financial plan in relation to the target market. Leaders in business organizations make vital decisions for the business. Such decisions should be supported by an accurate and substantive basis. Statistical

Tuesday, August 27, 2019

Largemouth Bass Essay Example | Topics and Well Written Essays - 750 words

Largemouth Bass - Essay Example The blotches give it a beautiful look. The anterior part of the fish has 9-11 spines and a clearly divided fin; while, the posterior part consists of 12-14 soft rays (â€Å"Largemouth Bass†, para.1). They are given the name largemouth because their upper jaw is so big that it reaches the rear end of the eyes at either side. In the first year of its life, this fish grows 5-6 inches. In two years, it is about 8-12 inches; and a three year old fish is nearly 16 inches long. â€Å"The Alabama state angling record (16 lb, 8 oz) was caught in Mountain View Lake, Shelby County, in 1987† (â€Å"Largemouth Bass†, para.2). Largemouth Bass are said to be the biggest predators of the aquatic environment. They become active predators right in the first year of their lives. They feed on zooplankton, smaller sunfish, crayfish, smaller amphibians, and other little insects (Oster 10). Adult Bass feeds on smaller Bass and other fish of the aquatic ecosystem. Since this fish has a large mouth, it has the advantage of fewer predators. However, young largemouth bass is preyed upon by many predators like herons and larger fish. They can survive in a wide variety of aquatic habitats; however, they are most commonly found in quieter watery regions, such as manmade ponds, submerged logs, and rock ledges. They are able to tolerate turbidity and loose current in these waters. They are largely found in rivers and lakes in Texas, where they begin their spawning in spring season. It is when the temperature of the waters reaches 60? F. In winters, they move deep into the sea to find warmth; and in spring, they come up on bays that have become warmer (Bridges and Bester, para.6). They come in shallow waters when they are looking for food, in the mornings and evenings. The male bass makes nest under the water where the female bass lays eggs. Then she goes away, and the male bass protects the eggs that hatch in 5-10 days. The newborns are called fry, and they stay in groups called schools. Their schools are under direct supervision of the male bass. The lifespan of a largemouth bass is nearly 16 years (Texas Parks and Wildlife, para. 4). The Official Web site of Alabama Department of Conservation and Natural Resources (â€Å"Largemouth Bass†, para.3) states that: Native populations of Micropterus salmoides occur throughout the eastern United States. Extensive stockings of the Florida subspecies, M. s. floridanus, and the mainland subspecies, M. s. salmoides, have expanded the range of this species from the Atlantic to the Pacific coast and from southern Canada into Mexico. The Florida subspecies of largemouth bass has been selectively stocked in Alabama since 1971 and continues to be stocked by state and private fisheries biologists. Subspecies of largemouth bass have been introduced into Texas, and thus, largemouth bass becomes a specialty of this state. Texas has a great number of bass angling clubs where largemouth bass fishing is done. This fishing is very important for Texas’ economy as fish anglers prefer largemouth bass over any other fish for fishing. The trend of catch and release is growing, especially when the anglers catch adult largemouth bass. This is because most of these are female breeders, and it becomes important for the anglers to release them in the same water after catching, so that the breeding of fish is not disturbed. Texas is also popular for largemouth fish as delicious seafood, due to

Discussion Assignment Example | Topics and Well Written Essays - 250 words - 66

Discussion - Assignment Example Apparently, people tend to mix the political ideology of people with that of the religion and tend to take into consideration the faith of candidates while deciding on whether to vote for someone or not. 1People tend to prefer to know the core beliefs of the political candidates before deciding whether to vote or not and as such Mormonism is not yet accepted at mass level. Though it is more related with the Christianity however, its core differences make it different from the mainstream Christian religion. What is however, important to note that the religion has links and proximity with all major three religions which can easily make it the mainstream religion in the country? The religion’s similarity with all major religions is its major appeal whereas its certain practices such as secrecy maintained while conducting prayers sessions is something which can be considered as not having universal appeal to many who view these practices with more

Monday, August 26, 2019

You can choose the topic you want Essay Example | Topics and Well Written Essays - 2000 words

You can choose the topic you want - Essay Example VanderLans and Licko provided a stage in which artful typographic configurations could be explored to their greatest effect (Chwast, 235) while amateurs have introduced both a splash of new excitement and creativity as well as a cause for concern for the future expectations of quality. With the help of computers, fonts have introduced to the population at large and have allowed individuals to explore letterforms to the fullest extent of legibility. The introduction of graphics specific software like Adobe Photoshop symbolized a breakthrough in graphic design freedom and paved the way for ever more sophisticated programs such as 3DS Max and Macromedia Flash. With these tools, designers are now able to create nearly realistic 3D worlds within the confines of the computer. The degree of realism afforded through such features as lighting, shading and texturing has also sparked new areas of graphic design growth, specifically in the areas of animation and game design. With the advent of the computer, the world was introduced to an awesome new toy that could come up with all kinds of new tricks. One of these new tricks was an ever-increasing ability to digitally produce artwork that could then be manipulated to any degree and reproduced in precise detail any number of times. It was easily manipulated to fit all types of sizes and formats, instantly accessible from numerous sources and quickly printed in a variety of media at once. These attributes meant digital illustration became the wave of the future for graphic design as well as many other forms of art media. It was the perfect solution to advertising needs and the ultimate expression of precise control. As software became more advanced and more user friendly, a greater number of individuals with an idea of an image found it possible to create their own ‘artwork’ simply by following the step-by-step instructions of tutorials or copying and pasting elements of other people’s artwork into their own

Sunday, August 25, 2019

Approaches to Effective Change Management Essay

Approaches to Effective Change Management - Essay Example It is important for change managers to be open for new ideas that may be significant in the change process, which encourages all the stakeholders involved to participate and own the organizational objectives, thereby making it possible for the change managers to accomplish their tasks (Ivancevich et al. 2007). Kotter (1996) observes that change management also requires that the important decisions be defended from denunciation by other players who might not be informed or whose interest might only be focused on resisting change irrationally. If change managers allow new ideas to be dismissed in such a manner, there can be no progress. However, while defending the ideas against criticism, it is important to consider the suggestions of others who might have a different perspective in regard to approaching change. For example, technical personnel who understand the organizational systems better can offer essential advice regarding the necessary changes that are beneficial. Flexibility i n decision making is important for change to be accomplished. In other words, change managers need to disregard the manner in which they have always approached matters related with decision making. They need to allow flexible practices that broaden their scope of thinking, which allows them to identify new opportunities and methods of working. Rigidity in decision making hampers innovativeness in organizations since they do not open up to change (Szamosi & Duxbury, 2002). In other words, organizational culture is important in determining the success of the change process. It may hinder or promote change and therefore change managers should be keen on maintaining a culture of flexibility in organizational decision making. Promotion of flexible working is also important to ensure that the employees are aware that the typical procedures followed in the workplace can be changed at the realization of any opportunity for improvement, which is significant in avoiding resistance to change a mong the organizational staff (Lines, 2004). According to Ivancevich et al. (2007), successful change management involves learning from past experiences. The change managers can use examples of situations where they failed in the past and apply the knowledge to avoid undesirable occurrences in the change process. In choosing the approach towards implementing new ideas, it is important to keep focused on the positive aspects instead of looking at the possibilities of encountering difficulties in the implementation process. Focusing on potential difficulties leads to undesirable pessimism that may hamper progress. Risks also need to be shared by forming strong partnerships that are also significant in developing new ideas (Szamosi & Duxbury, 2002). Bennett & Durkin (2000) observes that the information obtained in the change management needs to be analyzed and sorted out to distinguish between the vital information from the irrelevant. Failure of the change managers to make out the dif ference in such information leads to the presence of surplus data that makes the tasks even more difficult. Such situations cause exhaustion and low morale in implementing the organizational activities, and the change process may be abandoned before the change management goals are accomplished (Mourier & Smith, 2001). On the other hand, Lines (2004) observes that there is a tendency for managers and data collection staff to make assumptions that they collect all the information that can be accessed while they do not. In other words, improper judgment regarding the information received by the change managers leaves substantial information that might be useful to the management

Saturday, August 24, 2019

Consensual Relationship Agreements Case Study Research Paper

Consensual Relationship Agreements Case Study - Research Paper Example The consensual relationship agreement (CRA) involves the two individuals acknowledging that their relationship is voluntary and promising to behave professionally while at the place of work. They also agree to behave ethically, therefore not offending other employees with their behavior; favoritism between them is discouraged. Moreover, the involved parties at the workplace are required to sign the consensual relationship agreement and abide to its rules and regulations. However, workplace romance can at times compromise the employees’ concentration, especially when the two lovebirds work in the same place. According to Amaral (2006, p.1), the mixture of genders in the places of work and time spent together creates room for growth of romantic feelings towards the employees, which yields to significant consequences. Most managers are sued by their employees for sexual harassment and failed relationships. Therefore, CRA works as a savoir for employers in such situations. In addition, a relationship that has the potential of yielding to a lawsuit is not worth it; therefore, CRAs creates a balance between individual interests. According to Amaral (2006, p.1), office romance has serious repercussions such as low productivity, as other employees believe that the boss is favoring his partner who is an employee. Therefore, in my future workplace, I would recommend the use of consensual relationship agreements, as their rules oppose favoritism and encourage professionalism. Upon signing this agreement, the involved parties are expected to comply with the rules and regulations of the CRAs. Consensual relationship agreements also reduce legal issues associated with sexual harassment. Upon signing a consensual relationship agreement, the parties attest that they are in the relationship voluntarily, and therefore, sexual harassment is out of question. In addition, CRA ensures that a relationship ends amicably,

Friday, August 23, 2019

Finite Element Analysis Essay Example | Topics and Well Written Essays - 1250 words - 1

Finite Element Analysis - Essay Example n into "series of smaller regions in which the differential equations are approximately solved; by assembling the set of equations for each region, the behaviour over the entire problem domain is determined". Considering a three-dimensional body (as shown in the figure), assume that force F is acting on the body, whereas the body is under gravitational pull by the virtue of its weight represented. The distributed load T is also acting of the body. The part of the body is segmented, and single specific outer surface is considered. The body is under stress, as result of the application of the external force, the distributed load and the gravitational force. The external force acts on surface of the body, and is regarded as the surface forces, whereas the weight is acting on the entire volume of the body and is regarded as the body forces. By the virtue of its material characteristic, the body will tend to deform upon application of the external force. The body initially behaves within the elastic limits, and will therefore retain its shape after the surface forces are withdrawn. This tentative deformation with the body in terms of length, area and volume is regarded as the strain. As per Cartesian system, the developed strain can be explained as, This entire set of differential equations is configured on the element of volume. Further calculations are pursued to obtain the energy change in the entire system due to the application of the forces. The node is the critical point for the specific surface. The location of this point is based upon the value of the known field variable. In specific cases, the net displacement at support node is amounted to be zero, in similar manner the temperature values are prescribed at nodes. The nodes are considered to the points at the boundaries of the finite element mesh. The mesh is the marking of regions on the surface area, and therefore in the case of continuous regions no gaps are evident during finite element mesh. The

Thursday, August 22, 2019

Development of the United Kingdom Essay Example for Free

Development of the United Kingdom Essay Officially known as the Republic of Ghana, it was Europe’s first trading partner in sub-Saharan Africa – initially trading in gold and then later as a primary supplier of slaves. Although it was subsequently colonized by the British, it later became the first country in Africa to obtain independence from its colonizer (BBC News). Ghana came into existence in 1957 when what was then known as the Gold Coast acquired its independence from the British. Situated along the Gulf of Guinea in West Africa (see U. S. State Department map reproduced below), the country occupies an area of about 238,538 sq. km. composed of plains, rainforest, and some scrubland (U. S. State Department). Its capital city is Accra (population: 3 million) and the other principal cities are Kumasi, with an estimated population of 1 million, Tema (500,000), and Sekondi-Takoradi (population: 370,000). English has been designated official language of the Ghanaians but several dialects are spoken like Akan, which is spoken by about 49% of the population, Mole-Dagbani (16%), Ewe (13%), Ga-Adangbe (8%), and Guan, the dialect of 4% of the population. Sixty-nine percent of its estimated population of 23 million are Christians while 15. 6% are Muslims. Indigenous religious beliefs are being practiced by 8. 5% of Ghanaians. Although it existed as a democratic republic since its independence in 1957, the constitution of Ghana took effect only on January 7, 1993 (U. S. State Department). The cultural practices of Ghanaians which are mainly related to â€Å"conception, childbirth, and childrearing† consist of some harmful customs and traditions. One of these is â€Å"female genital mutilation (FGM). † This is a procedure which is conducted to partially or totally remove the external genitalia of a girl to turn her into a real woman. Another is a belief in dietary taboos which often leads to anemia or nutritional deficiency on the part of pregnant women. In Ghana, when a marriage does not produce an offspring after two years, it is considered defective. After a woman gives birth, the Ghanaians believe that burying the placenta near the house of the family would prevent the child from growing up into an errant or rebellious individual. In addition, they would wait for eight days after birth before naming the child and treating the umbilical cord with herbal preparations (Nyinah). Ghana is rich in natural resources with gold and cocoa being two of its major dollar earners. Its other export products are timber, diamonds, aluminum, tuna, manganese ore, and bauxite. In spite of this, the country still relies heavily on the assistance of international financial and technical institutions to remain viable. Thirty-five percent of its gross domestic product comes from the agricultural sector which also accounts for 55% of total employment in the country, mostly in the form of small landowners. Aside from seeking debt relief in 2002 under the Heavily Indebted Poor Country (HIPC) program, Ghana was also one of the beneficiaries of the Multilateral Debt Relief Initiative which came into force in 2006 (CIA World Factbook). As of 2006, total exports reached an estimated $3. 9 billion while imports totaled $6. 8 billion. Identified trade partners were the United States, the United Kingdom, China, Germany, France, Spain, Nigeria, the Netherlands, and Togo (U. S. State Department). Statistics gleaned by Global Health Reporting. org from the CIA World Factbook and a report published by UNAIDS in May 2006 about the global epidemic on AIDS showed that as at end of 2005, an estimated 29,000 had already died from AIDS in Ghana, leaving behind them about 170,000 children below 17 years old who had lost one or both parents to the disease. The same sources also revealed that by the end of 2005, there were 320,000 Ghanaians who were living with HIV/AIDS, 25,000 of whom were children below 14 years old. Aside from AIDS, another major health concern of the country is malaria. With about three million new cases being reported every year, malaria accounts for approximately 61% of total hospital admissions in the country among children below five years old (Global Health Reporting. org). In its fight against AIDS, malaria, and other diseases which have been plaguing Ghanaians, the country has received varying degrees of support from international organizations such as the World Health Organization, Global Fund To Fight AIDS, Tuberculosis and Malaria, the World Bank, the Department for International Development of the United Kingdom, and the United Nations Children’s Fund (Accra Daily Mail, 3/17 as cited in Global Health Reporting. org). On March 17, 2008, a campaign named â€Å"Voices for Malaria-Free Future† was launched in the country to educate the people about the techniques and the key concepts and practices used in fighting malaria. Rosemary Ardayfio, who represented the media in the launching ceremony, announced the formation of the Media Malaria Network composed of journalists from the print and online organizations. Ardayfio explained that aside from recognizing the role of the different media organizations in malaria advocacy, the network specifically aims â€Å"to disseminate information about the use of insecticide-treated nets and appropriate medication† (Global Health Reporting. org). Ghana was among the 177 countries that ratified the Kyoto Protocol which aims to require industrialized countries to reduce their emissions of greenhouse gases to prevent global warming (UNFCCC). In addition, Ghana was also a party to other international agreements governing hazardous wastes, biodiversity, endangered species, law of the sea, ship pollution, environmental modification, ozone layer protection, wetlands, and tropical timber (CIA World Factbook). The Republic of Ghana faces a bright future. It is endowed with plenty of natural resources. Its leadership has commitment itself to free and compulsory basic education. In fact, its â€Å"free, compulsory, universal basic education (FCUBE)† which was launched in 1996 has been labeled the â€Å"most ambitious pre-tertiary education programs in West Africa† (U. S. State Department). It has also been described as a â€Å"well-administered country by regional standards† and considered a model for economic and political reforms in the region. And, most of all, a major oil reserve was discovered in 2007 (BBC News). For these reasons alone, the country and its people have no reason to remain impoverished. Works Cited BBC News. â€Å"Country profile: Ghana. † International version. 6 February 2008. 22 March 2008. http://news. bbc. co. uk/1/hi/world/africa/country_profiles/1023355. stm CIA World Factbook. â€Å"Ghana. † 6 March 2008. 22 March 2008. https://www. cia. gov/library/publications/the-world-factbook/geos/gh. html Global Health Reporting. org. â€Å"Ghana. † 22 March 2008. http://globalhealthreporting. org/countries/ghana. asp? collID=11id=144malID=187 tbID=188hivIC=189malIC=190tbIC=191map=192con=Ghanap=1 Nyinah, S. â€Å"Cultural practices in Ghana. † World Health. March-April 1997. 22 March 2008. http://www. popline. org/docs/1204/126178. html UNFCCC. â€Å"Kyoto Protocol. † 22 March 2008. http://unfccc. int/kyoto_protocol/items/2830. php U. S. State Department. â€Å"Background note: Ghana. † January 2008. 22 March 2008. http://www. state. gov/r/pa/ei/bgn/2860. htm

Wednesday, August 21, 2019

Sex Education in Secondary Schools Essay Example for Free

Sex Education in Secondary Schools Essay Background The health and bright future of every adolescent is shadowed by risk of sexually transmitted diseases, unintended pregnancy and even abortion, that will enable them to reach their goals in life. Research shows that one youth is infected with HIV every hour of everyday, while 5% increase in teenage birthrate, 40.5 births per 100 young woman ages 15-19 (Hamilton et.al.2009).This mind numbing fact, is pointed to the aggressiveness, curiosity and misguidance of teens about the issues of sexuality. In a Christian country, like Philippines, these issues are taken with great care and fragility, hence, according to Wagoner (2001), this are public issues that should be treated with rights, respect and responsibility instead of fear, denial and blame. The youth have the right to accurate information, deserving of respect and do have an obligation to act responsibly. Ignorance regarding this is a crucial matter that has an easy remedy: educate the youth and give hope for a more informed tomorrow (Leavitt, 2009). Because like what Wagoner (2001) said, â€Å"By this we could protect their (youth) health and their lives.† Sex education on the other hand, according to Kirby (2002) and Alford (2003), it teaches about abstinence as the best method of avoiding STDs and unintended pregnancy through contraception, it talks about interpersonal and communication skills which help young people explore their own values, goals and options, a prevention program that will affect multiple behavior and achieve positive health impacts. As support to the global call of sex education, Representative Lagman (2008) said that Reproductive Health Bill was formulated by the congress here in the Philippines, that promotes information on access to both natural and modern family planning method, which are medically safe and illegal permissible and assures an enabling environment where women and couples have the freedom and choice on the mode of planning their family while strengthening PopCom in educating the youth. For this reason, the researchers would like to expose the importance and effects of sex education program in the learning of teens and in the preservation of the country as a whole at the same time, assist and guide the youth to be responsible not only in their decision but more importantly to their judgment as to what Villegas (2009) said, â€Å"The only thing that will bring things to order is time.† Statement of the Problem 1. What are the importance of integrating sex education in the learning of teenagers? 2. What are the effects of integrating sex education in the learning and intellectual growth of teens? 3. What would be the impacts of sex education in social, spiritual and sexual development of teens? Statement of the Objectives 1. To instill among the youth the importance of sex education. 2. To show the effects of integrating sex education in the learning and intellectual growth of teens. 3. To reveal the impacts of sex education in social, spiritual and sexual development of teens. Scope and Limitations of the Study The study is only limited on the importance and effects of integrating sex education on the learning of teenagers in the secondary level and it’s feasible contribution towards nation building and global prosperity. It was conducted at La Filipina National High School, La Filipina, Tagum City, from February to March 2010 and was participated by 100 respondents consisting of 20 teachers (five every year level) and 80 students (20 per year level). Significance of the Study For the youth: The main purpose of this study is to provide information about sex education, its importance and effects to the academic performance of teens towards self-preservation and to showcase a wide array of choices to help live a healthy and productive life that would ensure active participation of youth in nation building and global development in the future. For the parents: The significance of the study is to help them to realized their big and vital duty to guide the youth and inculcate among them the values they should bear in mind to lighten their path towards a brighter future. For the teachers: The relevance of this research is to equip them with the right concept in providing not only quality education but also how education be used in fighting ignorance as core cause of deemed tomorrow. For the community: The importance of this research is to give the correct and clear meaning of sex education, as well as, its objectives to awaken the community of its advantage to address the increasing population growth and lessen if may not eradicate sexually transmitted diseases infected and to bring back youth closer to the Almighty creator. Definition of Terms Sex Education -is a program that teaches about abstinence and about using condoms and contraception to avoid STDs and unintended pregnancy, thus develop interpersonal and communication skills. Abstinence -refraining from doing sexual activity before marriage. Sexually Transmitted Disease -or STD is a disease transferred sexually like AIDS, HIV and many more. Morality-is a conduct or attitude judgment from moral standpoint. Unintended Pregnancy -is similar to unwanted pregnancy. Contraception is the process of controlling birth. Reproductive Health Bill -is a bill in the congress that: †¢ Aims to control rapid population growth, unwanted pregnancy and abortion. †¢ Provide the public contraceptives and intensive discussions about issues of sexuality. Chapter II Review of Related Literature The question of weather sex education should be taught in school took along debate up to this very moment inspite with the fact given by the University of the Philippines Population Institute (UPPI) and Demographic Research and Development Foundation, restated by Dr. Singson (2010), 26 percent of our Filipino youth nation wide from 15 to 25 admitted to have a premarital sex experience, and worst is 38 percent of youth are already in live-in arrangement. The Philippine Situationer dated 2009, added that about 1.8m boys and 670,000 girls aging 15-24 have pre-marital relations already, 766 HIV seropositive children and youth, and got pregnant between 18-19 years old that contribute to 400,000 indused abortion annually thus infecting the quality of education gained by youth that unable them to be productive. Wagoner (2001), emphasized sexuality education is not an either/ or proposition, it’s the reality young people needed and deserved. He further stretched, that he will always believe that the better way is to try rights, respect and responsibility to give young people tools and, more they will make safe and responsible decision out of it. Sex education on the other hand, according to Alford (2001), teaches abstinence as the best method to avoid HIV, unintended pregnancy and abortion, it provides value based education, shows variety of choices in the manner of living, accurate information about the reality of sexual issues, teaches proper usage of contraceptive materials to serve as protection, and preaches religious values to give youth opportunity to explore their own. Macken in 2006 also mentioned the programs efficacy in preventing HIV and other STD. Leavitt (2009), determined ignorance regard safe sex is a crucial matter with an easy remedy: educate the youth and give them hope for an informed tomorrow. However, Anderson (1993) President of Probe Ministries International, viewed that the problem is not lack of education, but lack of moral instruction, according to him, young people needed information about sex, but it must be placed in moral context. He further said that we should provide youth with biblical principles and moral leadership in dissecting this issues. In contrary, researchers of Advocates of Youth (2009), stated that sex education clearly shows programs that do not encourage teens to start sexual intercourse, do not increase even the frequency, instead decrease the number of sexual partners which was supported by Kirby (2001) and Alford (2003) and in Mckeon’s research in 2006. That is why Rep. Edcel C. Lagman (2008), author of the RH Bill of the Philippines, wishes to proved that, (1) Information and access to natural and modern family planning (2) Maternal, infant and child health and nutrition (3) Promotion of breast feeding (4) Prevention of abortion and management of post-abortion complications (5) Adolescent and youth health (6) Prevention and management of reproductive tract infections, HIV/AIDS and STDs (7) Elimination of violence against women (8) Counseling on sexuality and sexual and reproductive health (9) Treatment of breast and reproductive tract cancers (10) Male involvement and participation in RH; (11) Prevention and treatment of infertility and (12) RH education for the youth strengthen PopCom, are vital to promote a well oriented community that shall raised the level of public awareness on the urgent need to protect and promote reproductive health and rights. The study of Kohler and et al. (2008) said, that its not harmful to teach teens about birth control in addition to abstinence. Mauluer et al. (2009) also added, that sex education greatly boost the delay if not decreased the intercourse participation rate. Dr. Markham (2009), told that we need to develop prevention programs that address the needs of the students who are not yet sexually active to promote skills and attitude to help them wait until they are older to have sex, we need to provide knowledge of condom and other contraceptive materials to the sexuality active and to give accurate and factual information and services related to STD’s through education. Albert (2010) said, that no one suggests to set guidelines alone will work at all time for all people, that it is important that we will have a large portfolio and effective options, and that is what education could cater. Effects In the academic and intellectual growth. Supposed sex education is effectively implemented. The Millennium Development Goal or MDG #2, which seeks to achieve universal primary education will be attained, for the program will help youth to proceed and finish proper education, thus, creating them employable, said Virola (2009). Senderowitz in 2000 analyzed that, learning about the reproductive health is pout of the larger developmental process as child become adult. He further stated, this developed self-esteem, a sense of hope and goals for the future, and respect for others. Pick de Weiss et al. (1998), said that the study of Institute Mexicano de Investigacion de Familia y Poblacion or (IMIFP) and the New York- based Population Council showed that the course can increase student’s knowledge on how to incorporate sex in the larger context of life. Delano in 2000, Association for Reproductive and Family Health Executive Director, revealed that this assessment could provoke life-building skills like negotiation skills, values classification, refusal skills, decision- making and goal setting. She further emphasized, that this skill will enable youth to cope with the demands and challenges of growing up and self management. Moreover, Mahler (1896) agreed, because according to her this will help youth develop and practice decision- making skills, because sex education is not just about sex, but it facilitates self-esteem and the feeling that you have options and you are in control of things. Nguer in 1999 added, that this education allows youth to be more mature and to be able and face some of life’s problems, it was also supported by Vincent et al. (1987), that the program is focused to improve decision-making skills, interpersonal communication skills, self-esteem and balancing of personal values, which is parallel to what Bailie said in 1995, thus, expressed a strong desire for better education and parents should be part of it. In the study of Cairns (1990), he found out the self-esteem and locus of control were associated with benefits in a single sex school than a mixed- sex environment. Mallam (1993) also revealed that this kind of curriculum showed attitudes toward academic subjects. Impacts on the Social, Sexual and Spiritual development †¢ Social advancements Since social aspect is defined as the relationship and communication into someone or to the community, as a whole. Integrating sex education according to Kirby, restated by Leavitt (2009), that this program can effectively reduced the number of sexual partners. Sex education had been successful in various settings. Sendorovitz (2000), written that the program include peer-based approaches and media activities to reach people thus young people can comfortably and safely explore issues and concerns to practice safer sexual behaviors. Whitaker (2000), reported that its effects were safer behavior and strong ties in the family, school and church. Nguer of 2000 also emphasized, that this also involves respect and responsibility. Since the values of respect for women by men and violence were instill in their minds. Bailie (1995) also added that the opportunity for individual counseling with someone they trust like their parents and friends are also given importance. According to Dohoney (2007) they (youth) learned about how to say no to sex which is a clear result of having a sound judgment. †¢ Sexual improvements Sexual activities are both natural to human and animals yet for human it’s more sacred and treated with respect. Kirby (2007) found that 30 percent of this program lessens sex frequency and 60 percent reduced unprotected sex. Kohler et al. (2008) said that teens who received sex education were 60 percent was likely to report becoming pregnant. According to Grunseit (1997) this activity delayed the inset of sexual activity, reduced the number of sexual partners and decrease unplanned pregnancy and STD rates and a significant reduction in sexual risk-taking. Dohoney (2007) said, that receiving sex education before the first sexual activity has the positive outcome. According to Lagman (2008) this reduces abortion rates by as much as 85 percent that negates the need to legalize abortion. He added that the United Nation and countries with sex education stated, that the youth understand the proper sexual values, early initiation is delayed, multiple sex partners is avoided, spread of STDs is prevented. In conclusion he said this raise the level of public awareness on the urgent need to protect and promote reproductive health and rights. †¢ Spiritual enlightenment When temptation comes let GOD be your guide. 1 Corinthian 10:13 said, â€Å"There hath no temptations taken you but such as in common man: but GOD is faithful, who will not suffer you to be tempted. â€Å"It is clearly stated that with intimate relation with GOD no temptation will ever shake the foundation of our very soul which is faith. According to Leavitt, the mission can only be achieved by offering a personal relationship with Jesus Christ as the best way to live a sexually pure life. In addition, Sanches (2010) said, that if you’re sexually pure because you are educated, you will avoid things that may tempt you to do pre-marital sex, and aborting baby. You won’t feel cheap like used rags, because you believe in God and with it the pursuit for sexually pure is easy. Chapter III Methodology Locale of the Study The location of the study may be classified into two: First, was at La Filipina National High School, La Filipina, Tagum City and the second was at the University of Southeastern Philippines,Tagum-Mabini Campus, Apokon, Tagum City. The former, includes the gathering of data through survey and latter, signifies the interpretation, analysis and making of the entire research study. Procedure After deciding the topic, researches of the anything related to it followed. From these researches, the researchers come up to a survey questionnaire form making it accurate to answer the problems and objectives of the study. The survey was made last March 2, 2010 at La Filipina National High School which was participated by 20 students and 5 teachers every year level summed up to 100 respondents. In every year level, the focus of the survey was only on the first section class having 20 respondents each, composed of 10 boys and 10 girls selected on random order. For the teachers, there were no specific guidelines on choosing who will answer the survey questionnaire. The respondents were chosen for they will be the one who will be affected directly for what so ever the result may be. Interpretation and analysis of the data gathered followed to form the summary, conclusions and recommendations.

Tuesday, August 20, 2019

Australias Trading Links Have Changed Adapted With Society Economics Essay

Australias Trading Links Have Changed Adapted With Society Economics Essay Australia is one of the worlds greatest trading nations; it has developed strong trade links with the major traders of the world, including USA, Japan and China. Trade links are used to develop and maintain a countrys economy and to provide supplies for the population that might not be available domestically. International trade and globalisation has enabled Australia to establish relationships overseas through the exports and imports of goods and services. Over time, these links have changed and adapted to suit modern Australian society. Over the past few decades, Australias major items of trade have altered. Australias trade involves the exporting and importing of goods as well as services. Traditionally, Australias exports were mainly comprised of primary products, such as agricultural goods and minerals. Although these commodities still play a large role in Australian exports, export patterns have altered. Today, services and manufactured goods also account for a significant proportion of Australias exports. Exports of manufactured goods have developed slower in Australia, but now account for around a quarter of exports. Recently, Australias exports have included a large services component, which includes tourism and education. During the past twenty to thirty years, Australias trade links have also changed dramatically. Historically, Australias main trade links were tied with the United Kingdom and had a heavy reliance on European Markets. This shifted during post World War II, when the UK decided to increase its trading links with other European countries, forcing Australia to seek new trade relationships. Australian exporters then turned to Northeast and Southeast Asia as potential trading partners. Since then, Asia has become Australias major trading partner. Australia is a large advocate of Trade Agreements; Australia tries to maintain and develop strong bilateral relationships with other countries to boost its trade and economy. Multilateral organisations and institutions, such as World Trade Organisation (WTO) and Asia-Pacific Economic Cooperation group (APEC), also play an important role. Since the turn of the 21st century, Australia has mainly focused on trade links between the members of the Asia-Pacific Economic Cooperation group (APEC). Around 70% of Australias exports and imports are from or to other APEC members, which includes Japan, USA, China, Taiwan and South Korea. Globalisation has opened the path for trade relationships. It has provided opportunities for the development of internationally competitive economies. However, combined with trade liberalisation, it has, in turn, increased competition and reduced the protection between international and domestic affairs. Australia is one of the leading free trade economies in the world and has the lowest levels of industry protection, such as tariffs, quotas and embargoes. These trade barriers are used to protect domestic producers from international competition and redirect trade flows, but restrict the levels of productivity. Free trade allows nations to specialise in the production of particular commodities that it has a comparative advantage in; Australia specialises in minerals, services and elaborately transformed manufactures (ETMs). This enables countries to take advantage of the efficiencies that generate from economies and increase their levels of output, resulting in lower average costs and increased productivity. Over the past few years, Australias ratio of exports and imports to GDP have risen around 5%, as a result of trade liberalisation. This expansion of exports has strengthened Australias industrial base. With free trade, a greater variety of goods are available for consumers. Increased competition ensures that products and goods and services are supplied at the lowest prices. If the 1998 tariff levels still applied in Australia, imported motor vehicles would cost 25% more, while footwear and clothing would cost an extra 14%. Reducing tariffs has resulted in savings of up to $1000 per year for an average Australian family. Trade liberalisation will increase employment in the exporting industries, while workers in import industries will be displaced, as the industries collapse in the competitive environment. Due to free trade, numerous jobs, especially in manufacturing and service industries, have been created in Australia. Economic growth is also affected by free trade. Countries that are involved with free trade, are experiencing rising living standards, increased incomes and higher economic growth. Over 400 000 jobs were created between 1983-84 and 1993-94. According to studies, the removal of all tariffs would create an extra 40 000 jobs within the next few years. However, with the removal of trade barriers, there is an economic instability from trade cycles as countries tend to rely on global markets. The Asian economic crisis in 1998, which was the currency devaluation from one country eventually spread to others, is an example of this issue. Trade liberalisation can also create too much competition between industries, which may find it difficult to compete for long periods or to develop new industries. Free trade also leads to pollution and environmental issues as manufacturers are unable to include these costs into the total price of goods. Recently, a number of nations have been negotiating for free trade agreements. Singapore was pursuing bilateral agreements with Australia, Japan, Mexico and USA and was able to establish an agreement with New Zealand. The United States concluded an agreement with Jordan in 2000 and was negotiating agreements with a number of other countries. In the future, if all trade barriers were to be demolished, trading internationally would be more simple and productive. Developing countries would gain a more stable economic status, while developed countries would increase production levels and build and develop a stronger economy.

Film Adaptation of Sophocles’ Oedipus Rex Essay -- blind by ignorance,

â€Å"You are your own enemy† (Guthrie, Oedipus Rex, 22:43). In the film adaptation of Sophocles’ â€Å"Oedipus Rex† (1957), Sir Tyrone Guthrie portrays the characters as truth seekers that are ignorant when trying to find King Laius’ murderer. On the other hand, Sigmund Freud’s hypothesis of Sophocles’ work introduces us to â€Å"The Oedipus Complex† (1899) which states that as we’re young we grow infatuated with our opposite sex parent and feel resentment towards our same-sex parent. These two pieces have adapted mirror like meanings of Sophocles’ tragic play. Sir Tyrone Guthrie and Sigmund Freud explore this through the use of ethos, irony, social distance, and the visualization of state of mind in order to show the manifestation Oedipus undergoes living with his â€Å"mix of killing and unimagined shame† (Guthrie, Oedipus Rex, 21:19). Though the answer is in front of Oedipus, he wears a mask that protects him from the answers he does not want to believe is true. To begin with, Oedipus is his own tragedy since his actions and decisions are the reasons why he was not able to thoroughly see his mistakes. Sir Tyrone Guthrie places Oedipus in the middle of the town to begin the interrogation of finding the murderer of King Laius so the city can be unwind of its plague. Sir Tyrone Guthrie does this on purpose so the audience and the servants around him can see the foolish mistakes their great King achieves. Tiresias, the blind prophet who can see the past, present, and future, speaks to Oedipus, since Tiresias has the ability to only see the truth. Even though the audience can see that Oedipus is not taking any consideration of the prophet’s words when Tiresias directly yells to him that Oedipus is the â€Å"murderer [he] [seeks],† the ignorant side of Oe... ...now where he was â€Å"†¦in calamity,† seeking the truth to stop the plague was in his good intentions but his unconscious mask would not let him see the answers (Sophocles, Oedipus the King, 425). It is the reason why â€Å"most young people outgrow the compulsion† for their parent â€Å"and thereafter repress it† which is why Oedipus was unknowingly his own disaster (Jacobus 476). Works Cited Freud, Sigmund. "The Oedipus Complex." A World of Ideas: Essential Readings for College Writers. By Lee A. Jacobus. 8th ed. Boston: Bedford/St. Martin's, 2010. 475-85. Print. Oedipus Rex. Dir. Tyrone Guthrie. By Sophocles and William B. Yeats. Perf. Douglas Campbell and Eleanor Stuart. YouTube. YouTube, 01 Feb. 2013. Web. 07 Feb. 2014. . Sophocles. Oedipus the King. Trans. David Grene. 1st ed. Chicago & London: University of Chicago, 2010. Print.

Monday, August 19, 2019

Graduation Speech -- Graduation Speech, Commencement Address

It is with great pride and honor that I represent the class of 2012 of County High School. I do not want to brag or boast, but in my opinion, this class is just awesome! What do you guy's think? Our class has many amazing athletes and scholars who excel in their own capacities and musicians and artists who paint our world with their own language. The class of 2012, you should stand tall and be proud to sit here and be a part of such a talented and unique class. You cannot get an Annie Everett who has lettered 12 times from her athletics in just any typical class of seniors. You cannot find a more spirited guy with the skinniest and longest legs than Beau Hannifious, and you definitely cannot find a nicer, peppier person than Katie Burns in just any class of seniors. What I am trying to say is the class of 2012 is definitely a one of a kind, authentic kind of class. Family and friends, teachers and administrators, you have come here this evening to share this lifelong memory with us t oday. Thank you so much for being a part of this moment. Today, Friday the thirteenth of June, marks our very last day as high school seniors. We will soon begin a new chapter of our lives. Therefore, strap on your seatbelts and hold on tight, as we ride the most adventurous and bumpiest ride of our lives. After this moment, we will all go onto different paths. Some of us will go and further our education and become doctors, lawyers, engineers or some of us might join the military or navy and become soldiers to represent our country. Whatever paths you choose to follow, and whatever you choose to do, make sure you do what you want to do and become whoever you want to become. Success is a word that comes into many different meanings, shapes and size... ... goals. Do not let anyone stand in the way of your dreams or tell you what to become. The word "hawk" comes from the Middle English word hafoc, which means "to grasp or seize." Today, grasp and seize this moment of overflowing accomplishments and be proud of yourself. Grasp this moment especially because after today, we will fly our separate ways into the world. To all of the teachers at Roger High School, thank you. Thank you for flying with us for the four years we have been at Terrace and guiding us into our accomplishments. You have given us the most valuable gifts anyone can receive: the gift of knowledge. We are more intelligent and prepared for the world because of you. To the class of 2003: we did it. Savor this moment because there is not a more deserving class that deserves it more than the class of 2003 of Roger High School. Thank you, and God bless. Graduation Speech -- Graduation Speech, Commencement Address It is with great pride and honor that I represent the class of 2012 of County High School. I do not want to brag or boast, but in my opinion, this class is just awesome! What do you guy's think? Our class has many amazing athletes and scholars who excel in their own capacities and musicians and artists who paint our world with their own language. The class of 2012, you should stand tall and be proud to sit here and be a part of such a talented and unique class. You cannot get an Annie Everett who has lettered 12 times from her athletics in just any typical class of seniors. You cannot find a more spirited guy with the skinniest and longest legs than Beau Hannifious, and you definitely cannot find a nicer, peppier person than Katie Burns in just any class of seniors. What I am trying to say is the class of 2012 is definitely a one of a kind, authentic kind of class. Family and friends, teachers and administrators, you have come here this evening to share this lifelong memory with us t oday. Thank you so much for being a part of this moment. Today, Friday the thirteenth of June, marks our very last day as high school seniors. We will soon begin a new chapter of our lives. Therefore, strap on your seatbelts and hold on tight, as we ride the most adventurous and bumpiest ride of our lives. After this moment, we will all go onto different paths. Some of us will go and further our education and become doctors, lawyers, engineers or some of us might join the military or navy and become soldiers to represent our country. Whatever paths you choose to follow, and whatever you choose to do, make sure you do what you want to do and become whoever you want to become. Success is a word that comes into many different meanings, shapes and size... ... goals. Do not let anyone stand in the way of your dreams or tell you what to become. The word "hawk" comes from the Middle English word hafoc, which means "to grasp or seize." Today, grasp and seize this moment of overflowing accomplishments and be proud of yourself. Grasp this moment especially because after today, we will fly our separate ways into the world. To all of the teachers at Roger High School, thank you. Thank you for flying with us for the four years we have been at Terrace and guiding us into our accomplishments. You have given us the most valuable gifts anyone can receive: the gift of knowledge. We are more intelligent and prepared for the world because of you. To the class of 2003: we did it. Savor this moment because there is not a more deserving class that deserves it more than the class of 2003 of Roger High School. Thank you, and God bless.