Lenovo’s Product Life Cycle Essay

As a global leader in the PC market, Lenovo’s success rests on its ability to deliver consumer centric innovations in products that deliver a blend of mobility, performance and price. Design is an infrastructural element that helps define every aspect of a company, including Web site, stores, customer support, packaging, and messaging as well as its products. Lenovo has a well-earned industry reputation for delivering superior quality products. Quality is a fundamental component and commitment to customer satisfaction by delivering products that are of superior quality to comparable offerings from their competitors is the key to Lenovo’s success. In recent years, Lenovo relies heavily on local manufacturing strategies to shorten ship requirements and had achieved an award-winning use of thermoplastics and other recycled packaging materials. Lenovo-a consumer product Lenovo is a business that is built on product innovation, a highly efficient global supply chain and strong strategic execution. Its products range from exceptionally engineered laptops, ultrabooks, tablets, desktops and servers. It’s ThinkPad and IdeaPad that are the most popular among all of them. Lenovo’s systems are designed with extended battery life with up to 10 hours on some systems and with extended battery options that can last as long as 30 hours with the lithium ion technology. Smart air flow system allows the laptops to run cool which takes battery little power. Enhanced Windows 7 with Intel multi-core processors, One-key data recovery, ambient light sensor which automatically dims the system when not in use and VeriFace face recognition software for password login are among the few novel functional features that are available in Lenovo products. Lenovo has powerful security protection tools that prevent malicious malware, and viruses from swarming into the computers and can even locate and control PCs that have been stolen. Lenovo’s security begins with their core technology and award-winning ThinkVantage technologies that are exclusive to Lenovo. Their secure and private cloud files access allows sharing or streaming files without the need to store them locally. The premier X1 Carbon is the latest in ThinkPad’s and its island style X1 keyboard, light design which weigh less than 3 pounds and is only 18mm thin is truly considered the best. Its quality and simple design immediately reveals trendy and fascinating ThinkPad perception. Branding and design are to a large extent inseparable as a brand is not just a logo but it’s a gut feeling people have about a particular product and I believe that Lenovo is providing that to its customers with their latest innovative products. Packaging and Support Services Customers benefit from many of the advances that have been made in packaging. Lenovo is committed to offering environment friendly packaging for its products. Over the past several years, Lenovo has had a strong focus on increasing the use of recyclable materials in packaging; reducing the size and expanding the use of bulk and reusable packaging. Recent research estimates that Lenovo has totally eliminated over 1000 tons of packaging consumption by weight through design optimization and refinement across all Lenovo product shipments. The new packaging material, made from 100 percent recycled thermoformed cushions, enables PCs to be stacked together and requires less packaging material. This new material also helps minimize shipping costs. In addition, on many Lenovo notebook product lines Lenovo has implemented the use of 100% post-consumer molded fiber (paper pulp) packaging, which can typically be readily recycled in municipal waste streams. Lenovo is currently in the process of assessing the global availability of FSC certified packaging to support manufacturing facilities in all geographic regions. Lenovo’s Asset Tagging Service that is executed in production ensures that a user PC is easily identifiable and traceable right out of the box. Lenovo provides flexible options to meet personal or variable business needs. Lenovo’s reliability and its ability to provide speedy maintenance and repair deserve further emphasis. Lenovo’s Priority Technical Support service provides anytime direct access to the right level of tech support on the first call. Its accidental damage service offers protection from operational or structural damage due to common accidents like drops, spills, electrical surges or failure of the integrated screen which saves its customer the cost of repairs or a new PC purchase. Parts, labor repair and coverage of expenses while shipping to the repair center are all paid for by Lenovo as well. Warranty extensions are available for periods of up to five years. Accidental damage insurance, online tech support, on-site or in-home service of parts and labor coverage is also provided. User guides and manuals are readily available on Lenovo’s website for the customer’s convenience. Product Life Cycle Lenovo has a Transition service that saves its customers valuable time and resources, its hardware refreshes, and purchase through deployment to aged asset recovery. According to research, Lenovo’s PC management tools help users reduce costs that capture 80% of a PCs full lifecycle beyond the hardware price. Its ThinkVantage technologies reduce machine downtime and provide data security and their PC lifecycle analysis helps reduce the running and ownership costs. Lenovo helps customers manage the complete PC lifecycle and maximize the productivity and usefulness of devices; they do this by covering each phase of the typical PC lifecycle including planning, procurement, deployment support, asset management and disposal. Given the extent of technological advances both in hardware and software, nowadays a typical life cycle of the PC is estimated to be 3-4 years. According to Lenovo’s internal research, their customers have recorded consistent savings of up to $691 per PC over its lifecycle. Product issues and Warranty, Branding, Packaging considerations Packaging is an area where managers face issues of social responsibility, including concerns about the role of packaging in pollution, global warming, and resource use. The ink to print the package graphics often has toxins that later creep into the soil and water. Although Federal Fair Packaging and Labeling Act provide guidance on many packaging issues, many areas still require marketing managers to make ethical choices as even small changes can add up to big improvements. Lenovo is committed to ensuring that their products are safe throughout their life cycle as its products comply with the laws and regulations in each country that they ship to. Lenovo products are designed, tested and approved to meet the correct worldwide standards for product safety, electromagnetic compatibility, ergonomics and other regulatory compulsory requirements when used for their intended purpose. In addition, Lenovo maintains a series of specifications and standards that capture product environmental design requirements, including restricted and reportable materials, energy requirements, labeling and recycling. Lenovo has implemented a comprehensive product recycling programs worldwide to meet their customers’and legal requirements. Branding means the use of a name, term, symbol, or design or a combination of these to identify a product. A brand is the real asset to the company and Lenovo has a well-earned industry reputation for delivering superior quality products. Recognized brands make shopping easier and the more popular a brand name is the more control of target market there can be for that product. Successful branding should include easy identified label, dependable and widespread availability, and favorable shelf locations or displaying space in stores. In general, consumers are willing to pay a premium for well known branded products and Lenovo has used this to its advantage and has established a well deserved niche with its customers. A warranty explains what the seller promises about its product and a marketing manager should decide whether to offer a specific warranty, and if so what the warranty will cover and how it should be communicated to the target market. This is an area where legal, environment as well as customer needs and competitive offerings must be considered. Lenovo’s uses warranties to improve the appeal of their products as a marketing strategy and all the products carry written warranty agreements.. Most of the Lenovo’s laptops carry standard one-year warranty to fix your laptop for optimal speed and overall performance in the comfort of your own home. Marketing research needs Promotion and distribution of the product to its target market is very essential to the marketing mix. A target market of price conscious customers can be influenced by advertising campaigns that positions the company in consumers mind as value oriented product. Lenovo is already excelling in it marketing needs and will continue to adapt its marketing mix in response to evolving competition and customer needs. Even seemingly trivial differences in buying behavior are important because success often hinges on fine-tuning the marketing mix. Lenovo streamlines their distribution with the goal of providing consumers better service. Its fast global expansion is due to committed innovativeness, entrepreneurial spirit and teamwork across various cultures. Lenovo is committed to the goals of achieving customer satisfaction by delivering superior products, solutions, and services and ensuring they meet customer requirements. Lenovo frequently acquires inputs on design and product features fro m its customers and partners. Consumers are very observant and cautious of their products and consumer trust is one thing that is very difficult to establish nowadays. Lenovo’s global Quality Management System, which has received ISO 9001 certification, ensures the continual delivery of design improvements into Lenovo’s current and future products. Focusing on quality and sustainability in everything is how Lenovo gives back to the communities. References http://www.lenovo.com/social_responsibility/us/en/GreenPaper_Packaging.pdf http://www.lenovo.com/social_responsibility/us/en/Lenovo_ISO9001 Corporate_Certificate.pdf http://www.lenovo.com/social_responsibility/us/en/FY2011_Lenovo_Sustainability_Report.pdf# page=16&view=fit http://www.fastcompany.com/1830073/9-principles-great-branding-design http://www.doyoumatter.com/ http://www.lenovo.com/services_warranty/US/en/pdf/lenovo-warranty-services.pdf Lenovo Reveals ThinkPad X1 Carbon, Shakes Up Ultrabook Market Lenovo Reveals ThinkPad X1 Carbon, Shakes Up Ultrabook Market

Hrm Assignment

Assignment 1 Question 1 i. Name and describe in your own words two such HRM challenges as discussed in class. (4 marks) Two of the challenges are technology and motivation. Technology challenge is a new change that HRM has to face when working in a corporate. Advanced technology changes HR practices such as recruitment, training and collecting information and so on. To specific, HR uses technology to work more efficiently than before. Therefore, in the information age, HR has to know how to use tech better or the organization would be fallen behind.Motivation also is a challenge for HR. One of HR’s responsibilities is encouraging employees working more passionately and earnest. If HR cannot drive them in their work, a company is likely to lose some talent employees. So increasing motivation is important and hard to do for HR. ii. For each named challenge, give a description of how an HRM professional may assist the company in responding to the presenting situation. (4 marks) H RM professional rely on new technology to recruit.For example, HR professionals can post jobs on the internet instead of on newspaper or Flyers. Thus, applicants around the world can know the jobs and try to employ, the corporate would have more chances to have capable workers. For training, technical utilities help new staffs to be trained better. They can learn more professional skills and practice software in training programs by PowerPoint and video. For data storage, â€Å"The use of electronic imaging has made it possible for companies to store and retrieve files in an electronic format† (Lewis, 2001).Tech has been saved HR professionals’ time in organizing information statistics. About motivation challenge that HRM has to deal, HR professionals must be capable to recognize what the employees’ advantages are and how to distribute their tasks. Under the detailed division of labor, HR manager can inspire their working enthusiasm to increase productivity. A H R manager is a leader to conduct the labors to show their talents and guide them for the effectiveness of the company. However, it is a huge challenge for HR professionals.Once a HR manager does not arrange accurately the division of labor, a company is likely to be fallen behind. Therefore, motivation challenge is always significant and difficult for HR professionals. iii. For one of your named challenges, explain whether you think the HRM manager’s response is â€Å"proactive† or â€Å"reactive†. (2 marks) In my opinion, technology challenge is proactive for the HRM manager. Technology not only makes work period shorten, but increases job competition. Tech has promoted society including HRM.Question 2 Name and define in your own words the competency you think is being shown in this HR generalist’s work. (2 marks) I think organizing ability is required in the HR generalist’s work. Organizing ability is keeping a scenario run in the normal order an d maintaining members in a group do their works disciplined and in order. Why in your opinion is this competency important for the HRM generalist to have in a company setting, particularly in light of the importance of productivity enhancements discussed in Chapter 1? 3 marks) Organizing ability is significant because HRM generalists need to organize the employees to serve the company and increase productivity. Productivity is depending on ability, motivation and work environment. A HR generalist who has organizing ability can distribute labor’s work correctly so that they can develop their talents and promote their motivation in work. Under such positive work atmosphere, more employees will be influenced and continue work earnestly. Thus, productivity will be enhanced. Therefore, organizing ability is vital for HR generalists.

Against tithing in the modern-day christian church Essay

Against tithing in the modern-day christian church - Essay Example Tithing should not be practiced in the modern-day Church. There are several reasons for this, five good ones being the following: God does not dwell in churches made with human hands; the old Covenant cannot justify men through works and righteousness anymore; there would be less prosperity churches as well as their propaganda; the church can have a different approach towards giving than tithing; and the practice of tithing ended with the last book of the Old Testament in Malachi. These are just a few of the many reasons why tithing should not continue to be practiced in the modern Christian church. Tithing is an outdated notion which only serves to place a burden upon the people who have very little already—and casts a pall over the church as an organization that is only motivated by money and getting congregation members to handily donate or give to the Church. II. God’s New Covenant Dwells in a Body of Believers, Not a Physical Building Under the new Covenant, God do es not dwell in churches made with human hands—but rather dwells within a temple that is made of the body of believers. This is significant because Christians should not be focusing entirely on the revenue that a church creates through tithing, but rather make it a situation where people can donate or give openly or anonymously—in whatever fashion they see fit that is in line with church standards. Additionally, now believers under the new Covenant are now God's temple—and as such, the issue of tithing and giving 10% of one’s income is not an option.... , and—while people should still be encouraged to give freely to the church if it is within their power to do so—people should not be bullied into giving such a large portion of their income over to the Church, an obvious fact. III. Christ’s Appearance Abolished the Necessity for Tithing People used to tithe in the church in order to ensure that the Levirate (the priests who were descendants of Levi) were taken care of in order so that they could serve the church. Therefore, ten percent of the peoples’ offerings went to the priesthood. To continue such a practice by supporting pastors with ten percent of one’s income is not only based on a Biblical concept that is now out-of-date, but also unnecessary. The old Covenant cannot justify men through works and righteousness anymore, as Christ has already come. Since Christ came to the world because he loved the world—God having given ‘His only [begotten] son’ to pay recompense for the sins of the world—it no longer became necessary for the old rule of tithing to continue to stay in place.1 Christ died in order to bring the new Covenant into fruition, thus becoming the fulfillment of the law. People no longer had to abide by doing good works and seeking righteousness in order to secure their place in heaven. That is not saying people should not do good works or continue to live righteously—but works and righteousness are evidences that a Christian is still practicing the faith. These are the fruits of righteousness, which ever Christian should display. This is more important than some fabricated obligation to â€Å"give God 10%.† Christ should be the focus in the Church’s congregation, with every church appropriately divining God’s message as the churches’ missions are developed into full-fledged

Restless Giant Essay Example | Topics and Well Written Essays - 250 words

Restless Giant - Essay Example Therefore, he planned his actions and visited China, becoming the first American president to step on the land (ghk). This has been a significant action taken in the history of the United States because it begun the conception of other political strides the United States later implemented in order to make friendly relationships with other nations, especially with Russia which became Nixon’s next focus. Creating alliance with other nations is indeed very important for any nation because in times of troubles, there can always be a source of help that the nation might need. Although America may be known as a strong nation, it does not capable all by itself. Therefore, the nation needs to form strong alliances with other nations. The friendship formed with China had a domino effect on other nations which were formerly not given notice. Even though the nation is now known as a restless giant, putting its fingers on every nation’s affairs, it is playing a very important role in maintaining world peace. Finally, the friendly step did not just affect the nation economically and politically but it also seemed that the nation has become the ambassador for the warring nations it has allied

Analysis of Across the Universe Essay Example | Topics and Well Written Essays - 500 words

Analysis of Across the Universe - Essay Example The aesthetic regime can be seen in creating scenes that just seem to be there to add to the feeling of the film, without adding much or any information, and sometimes lacking in any dialog, such as the scenes of swimming, or the scenes of the carnival. They most likely are not even real, just there to imply drug trips. It is irrelevant to argue whether or not â€Å"Across the Universe† is art because it is a representation of reality, as Arnheim's perspective of cinema fits well with this movie because it is not an actual representation of reality at all. Big blue men dance at the carnival, imaginary joints produce real smoke, and giant creatures flail about. However, in adding elements such as those, one could argue that the character of certain objects are not strengthened but destroyed in a very informal manner. This is only done to further enhance our perceptions of certain aspects of the movie, such as raw feelings that have no actual, physical equivalent. While watching â€Å"Across the Universe†, it is easy to have more faith in Bergson's ideas of movements in cinema. Throughout the movie there seems to be this phenomenon of moving continuity, everything constantly flowing and changing, yet remaining the same. This perception of movement fits this particular movie more than the more concrete, or grounded view of Deleuze. The sensory-motor schema is frequently thrown out throughout the course of this, movie. Indeed, as quoted in the notes, the characters do seem to go off on a trip, to wonder about.

What impact does nurses have on obtaining their own accu check versus Research Paper

What impact does nurses have on obtaining their own accu check versus nursing assistants on the timely delivery of insulin therapy to patients - Research Paper Example Nurses should be in the fore front in enhancing diabetes control mechanisms. Bearing in mind that some patients may be too old to use the advanced technology in trying to curb the disease, nurses come in handy in ensuring the patients are taken care of (Farmer et al., 2007). Nurses may be involved in teaching patients how to handle the monitoring devices. To avoid patients having further complications from the disease due to lack of proper insulin therapy, nurses and nurses assistants should make sure they oversee the insulin therapy process. They should ensure patients are assisted wherever possible and that they (patients) get their dosage in time. Patients benefit from nurses who undertake their own accu check as the results are received in less time. The accu check gets results in the least time possible and nurses have the privilege of administering relevant dosage to patients as they require. This has led the nurses to get accurate information of a patient’s diabetic state, from where nurses can give the right medication to the patient. This trend of nursing obtaining their own accu check has made patients feel more confident about the treatment they get as they know the results are highly reliable. Some stakeholders involved in this sector are: patients, nurses, the medical agencies. Diabetes has been of a major concern thus, necessitating the unveiling of new methods to deal with the challenges it brings. Patients are directly affected by the disease and any invention towards their treatment affects them directly. Accu checks are meant to assist the patients undertake their glucose tests in real time. The results for accu check are efficient thus promoting efficient medication towards controlling the effects of diabetes. When nurses undertake their own accu check, efficiency can be easily achieved as a patient may be confident of getting the right treatment. Patients

UCC and Common Law Case Scenarios - Essay Example | Topics and Well Written Essays - 500 words

UCC and Common Law Case Scenarios - - Essay Example Due to floods, Cereal Inc warehouse is flooded and cereals destroyed that result in the inability to supply as stated in the contract. However, soggy flakes is not damaged and supplies 10 bags to grocery Inc. Besides, before the delivery was made, Grocery Inc had requested to be supplied with a variety of cereals at its different stores. Due to the inconvenience Grocery Inc wants to turn down the supply and terminate the contract. Even though it is within their rights to be supplied with the cereals they had specified at different stores, a complication will arise if they cancel the supply and the contract. The supplier will protect themselves by using the gap-filling rule. In the contract, it is not specified what type of cereals to be supplied or where to be supplied. The gap can be used in the defense that Cereal Inc had the right to choose what to supply and where to deliver it. The gap-filling rule gives a party of the contract the possibility of concluding some aspects of the contract that are not specific. In this case, it was not articulate on the type of cereals to be supplied or the store they were to be delivered. Cereal Inc can use this as its defense as the cause of the damages was not deliberate and the fact that inability to make the supplies was not the intention at the time of signing the contract. The amicable way of dealing with this case is for both parties to have a consensus. Grocery Inc should not be in a hurry to terminate the contract and cancel the supplies. They should give Cereal Inc time to recover from the loss. Alternatively, the contract can be amended such that it is specific on the type of supplies and the destination. Tom had promised to sell his model trains to Harry once he retired. Harry prepared by building a house to store them and borrowed money to pay for them. However, when the time came Tom did not honor his promise. Tom was sued by Harry for breach of

Open topic Essay Example | Topics and Well Written Essays - 1500 words - 1

Open topic - Essay Example Democracies can either be direct or representation. In direct democracy, the public is allowed to directly participate in their government. In representative democracies, citizens are always allowed to elect representatives who will represent them in the decision making processes. Despite being popular, democracy cannot be referred to as the best form of governance. This paper aims at proving that democracy has greatly failed as a form of governance. Democracy can be said to be faulty in the sense that it is a form of governance that it is always determined by what the majority wants and not what is good for the country. The question here is what will happen in a situation where the majority is wrong. This will mean that whatever will eventually take place will not be the best thing for the country at large. The majority can always be wrong as a result of misinformation or being fed with completely wrong information by influential figures for their own selfish gain. This will definit ely lead to a governance error that might haunt the country for decades affecting even generations that were not part of the faulty decision making (Diamond and Plattner 184). Democracy can also be said to be a highly expensive form of governance. There are a lot of resources that always go to literal waste during democratic processes. A country always spends a lot of money just trying to make sure that democratic elections are always free, fair, and accurate. Despite all these efforts, there are always complaints about elections not being free and fair. This would raise the question of whether democracy is really governance by the people as is commonly referred to. Other resources also go to waste in the form of resources used during election campaigns. These resources are usually used for the purpose of influencing the choices of the public during political elections. The resource used during the political campaign would rather be used for other activities that are much more profi table and productive. In comparison to a monarchy form of governance, democracy would be definitely unreasonable expensive. Democratic processes can also be said to be faulted by baseless preferences of leaders. Democratic elections involve a battle for supremacy of races, ethnic groups, religions and many other forms of grouping. People will always vote for certain candidates on the basis of their ethnicity, race, religion, and not their capability to be good leaders. This leads to situations where the ethnic, racial, or religious groups with the highest number of citizens always carry the day. The obvious result of such an election is a government that lacks diligence and expertise. As much as one group might pride of being successful during the elections, the consequences of having incompetent leaders will be faced by the whole country( Adler and Weismann 221). Democracy can lead to the imbalanced development in a country. Since the leaders are always elected by the majority, the y will always strive to those who voted for them at the expense of those who did not vote for them. For instance, if a leader was highly voted for in a certain region of the country and rejected in others, they will always tend to favor those who voted for them when it comes to developmental projects. This is mainly due to human nature, which makes it almost impossible for a person to respond to bad deeds with good ones. In the same manner, it will be

Introduction to the History of western art Essay - 1

Introduction to the History of western art - Essay Example In trying to keep with the spirit of humanism, artist of the early renaissance tried as much to show a lifelike human forms with accurate proportion and realistic expressions and clothing (Johnson, 2005). For example a woman of the Renaissance, like a woman of the middle ages, were never given any political rights and were treated to be legally subject to their husbands. Women of all classes were required to perform, first and foremost, the tasks assigned to a housewife. For thousands of years women had very few economic, legal, or political rights and, in theory were expected to be submissive to their fathers or husbands (Hartt et al, 2011). Women were restricted to traditional gender roles, which forced them to remain in the domestic or private restriction of a community. Women’s roles as daughters, wives, or mothers were therefore considered their most important function in a community (Johnson, 2005). For the high class members of society, the reproductive ability of a wom an was an extremely significant determinant of inheritance and maintenance the family line (Hartt et al 2011). Through all classes of society, the social system of patriarchy evolved as the primary way to regulate women’s behavior and maintain social control (Slovely et al, 2001). Although women were often depicted in Renaissance art or literature, the cultural advancements and political developments that emerged from the Renaissance overwhelmingly neglected women (Johnson, 2005). The Renaissance brought a renewal and rebirth of intellect, culture, art, and social advancement that was seemingly only advantageous to men. Women continued to be deployed in communities only for the advantage of men, as daughters who could potentially help the family through an advantageous marriage, or as wives who took care of the home and produced children to help work on the farm or to carry on a family name (Hartt et al, 2011). The behavior of women were also an important indication of the social

Nurses dealing with the death of their patient Essay

Nurses dealing with the death of their patient - Essay Example There are several tips that can help those entering the nursing field for the first time and who need guidance on how to handle death and the bereaved family once the death of one of their patients occurs. The tips will be discussed in detail below. The first thing to always remember and put in mind is that death is inevitable for anyone no matter whether the patient had signs to die or not. This therefore calls for acceptance once it happens. Acceptance is not always easy but reminding oneself that the patient wherever he or she is has no more pain and is better off comprises acceptance. One has also to think about the rest of the people who are living and how lucky they are to be alive and this will help with the acceptance process. There is no time limit for this process of acceptance just as there is no time limit for grieving (Kasher, 2009). The other thing the nurse has to remember is that everyone is allowed to grieve and in whichever way they want to as long as if it is in the workplace, one has to still maintain professionalism unless under closed doors, in the presence of a counselor or fellow nurses who have also undergone the same thing in the past or more often. One can shed tears in the work place and once at home, they can fully grieve and breakdown. Grieving even though is another step of acceptance is a channel to express the feelings of pain, anger and unhappiness that come with death. Talking is another way to cope with bereavement of a patient. Talking can be with family members, with grief professional, with other nurses who have had to undergo the same during their career or even with close friends and spouse as long as they understand. It helps to talk to people who will not judge but who will be understanding and considerate of your feelings and hence the coworkers and grief counselor are the best. Talking will also help to heal quickly and move on so that you will be able to pay more attention to the rest of the loving patients who

The Secret Life of Walter Mitty Essay Example for Free

The Secret Life of Walter Mitty Essay The Secret Life of Walter Mitty is a short story that deals with the life of a Walter Mitty, a middle-aged, absent-minded man who spends much of his time daydreaming about a fantasy world in which he is at the center of various heroic escapades. During a trip to town with his wife, he dreams about a life filled with images of conquest—he pictures himself as being a Navy pilot commanding a hydroplane in the middle of a storm, a brilliant surgeon about to perform an emergency operation, an adept killer being questioned in court, and a brave soldier on a mission to bomb an ammunition dump. It is an interesting story, which can be interpreted in many different ways. Thematically, it touches on various aspects of social, psychological, as well as existential issues that afflict the common man and that many can relate with. One of the main and prevalent themes in the story is about escapism. Mitty is a timid and henpecked husband who appears to live a mundane and colorless life. He represents the average American middle-class man whose real experiences are dull and conventional. Through his depiction of Mitty, the author suggests that the life of an average, middle-class man offers little opportunity for an exciting existence. Because of this, Mitty tries to escape life through his imagination. This way, he is able to get away from the defeats of his life as well as the conflicts posed by his wife and society in general. The story shows how that for some people, fantasy is a welcome alternative to reality. In his mind, Mitty takes on the characteristics he would like to embody. Not only is he brave and heroic, he can hold quick and witty dialogues in his fantasies. In contrast to real life, he is meek and mild-mannered—in scenes wherein he parks his car and shops for puppy biscuit, it is seen that his real nature is the reverse of that of the characters he imagines himself to be. Another theme deals with failure and the feeling of helplessness in one’s life. Throughout the story, Mitty is shown passively taking orders from his overpowering wife. He wanders into his alternate reality even as his wife gives out orders. It can be speculated that Mrs. Mitty is one of the sources of his frustrations. While in his daydreams he is controlled and â€Å"masculine†, in real life, he lets himself be dominated and ordered around by his wife. His fantasies represent his inner character which he is too afraid to actualize in real life. The fact that Mitty does not complain is a sign that he feels powerless and that he is already resigned to his fate. Therefore, the only way he is able to survive his lackluster life is through his fantasies. Mitty also appears to have issues with self-fulfillment. One can deduce that he is not successful and thus re-creates himself as an accomplished man (i. e. being a celebrated doctor or a dazzling naval commander). Not only does his life lack excitement, it seems that his very existence is deplorable—his wife constantly nags him, park attendants and cops talk down to him, women on the street laugh at his actions. Mitty’s last fantasy can be interpreted a number of ways, one is that it evokes the feelings of helplessness Mitty feels about his real-life situation. He imagines himself facing a firing squad an this shows that he feels tired living his life and that he’d rather not live it.

Job Design Model Analysis

Job Design Model Analysis Topic 2 Business process and job re-design Collaborative space Curtin University has embarked on a BPR program called EQUIP. What is the primary objective of the program? The primary objective for the EQUIP program been put into place at Curtin University is to enable Curtin to streamline/improve business processes in administration, support services, clarify responsibility among faculties and to seek out ways to make better use of current and future technologies. For example, Curtin, every semester has a high intake of new students so administration will be under intense pressure to process applications and get student timetable sorted out in a timely manner. With EQUIP being put into place Curtin can propose implementing better automation software, which in turn highlights one of Curtin strategic plan to be a responsive and innovative organisation. Describe the job design model. In EQUIP the job design model will greatly impact the staffing at Curtin as faculties reporting lines will change drastically, which may decrease paperwork or getting approval from multiple sources. All student service staff from July will be forced to join a transitional pool meaning that staff will be eligible to apply from new vacant Teaching Support Coordinator and teaching support staff position. This may require staff to get re-trained in these new job roles or Curtin have found a way to regulate the amount of staffing they have in the Student Service faculty. New proposed positions will be readily available for Curtin staff members at all level of employment allowing the staff to be focused on specialising in their roles. Senior leadership roles may not be filled by current Curtin Staff in which case Curtin will look from external applicants. What implementation issues will the University need to manage? The implementation of EQUIP in Curtin will greatly impact the staff as it will affect 600 to 700 staff members. The Curtin Hierarchy must work closely with faculty managers and supervisors to give staffing clear instruction to save mass confusion on how their roles will be affected. Another implementation issue will be how staff training will be provided for the enormous number of staff be relocated and be put into new job roles which may differ from their current role which they occupy. Staffing in research administration, HR and finance must be aware of the new reporting lines and processes. How will the University know if it has done a good job or otherwise? Curtin will know they have done a good job by conducting staff survey in each affected faculty. Another way of seeing if the implementation has been affected is by considering staff complaints in regards to the implementation. Thirdly another way to compare if the EQUIP implementation compare historical data on involuntary redundancies and staffing requests to new roles. What are the ethical issues of using internal consultants? (refer to the six values of the ACS Code of Ethics) Public interest will be put at risk as internal consultants might have formed strong bonds will departments or have family working for Curtin so the personal interest will be placed above public interests, resulting in unfair decisions been made effectively. This sort of judgement issues will lead to Curtin staff not seeing the consultant as a professional staff member who can perform their job with competency. Ethical morals will get distorted as good principles, values and beliefs wont be at the forefront of decision making. Social ethics can change drastically as the consultants deals with certain departments it may not like on a personal level ruling in unfairness against them. For example HR was slow in processing the consultants annual leave so the consultants may deal with that department in a fair manner. Refer to the article Trading places brick by brick provided in class. What changes in business process would Hadrian force? Hadrian would revolutionise the business processes of the brick trading business as this machine would set over a medium to long term new standard on how fast and efficient the brick layering industry will be. A good return on investment will enlighten the invests as the robots helping hand in decreasing production cost will be outweighed by initial set up. Construction companies can potentially save more money brick for brick with robots as they natural hold leverage over the brickies who are over charging due to shortages in various parts of Australia. Hadrians introduction into the construction industry will force the workforce to become more technology savvy which will require specialised training/certifications. This might indicate the older generation of the workforce might have to change career. This automation movement will just be like the one the automotive industry has experienced. Human interaction has become very limited in this industry as only electricians and machine operaters are the only human element of the automotive left in contact with the cars. Robots have provided the automotive industry with the means to achieve high throughputs with the least amount of spending. Definite deductions in scheduling and cost will encourage more buying customers to buy land to build houses as Hadrian would drive down housing cost. A normal business processes in the construction industry having a lot off cover insurance on workers to cover the company which can cost a lot of money but with Hadrian that process become less and less important as the human element of building houses will be eliminated. Hadrian would slowly phase out the older workforce leaving the industry reaping the benefits of a younger workforce, as retirement packages and pensions costs will be lowed. The whole industry will experience a decrease in pension/retirement payouts and health care costs because of lower aging work force and lack of retirees. How would jobs be redesigned? Jobs can be redesign in the fact that tradies wont be obsolete; trades men will still be needed to do the task like window, insulation installations, electrics and joinery in housing projects. It will be an environment where machines and humans can work in sync with one another. Another way jobs can be redesigned is tradies can become trained certified specialists in programming, operating and troubleshooting the machine. For example, job roles like configuration analyst or control engineer will be available in the brickie industry as jobs. Old workforce will be phased out as they would cost more to retrain then training a post graduate TAFE student getting trained in the field, making jobs for the younger generation easier to come by. Brickies would have to reinvest them self as window fitter or be qualified on mechanic to be able to work with Hadrian. Once Hadrian hits commercial usage and become industry standard, the industry will become 85% machine 15% human making jobs harder and harder to come by within the industry.

The Importance Of Oil Price In Market Economy

The Importance Of Oil Price In Market Economy Oil price has become a fundamental factor of todays market economy as it influences financial markets as well as consumers, corporations and governments. Oil fluctuation has not only a tremendous impact over the stock markets but also a major influence on the global economy: oil is needed for industrial purpose such as power generation, chemical products, transportation etc. In particular oil demand and supply drive volatility and any upward or downward price movements is tracked by any financial market player as it directly influences future outlook and real growth of exporting and importing countries. Higher crude oil price implies higher price of energy leading to a slower economic growth, inflationary pressure, asymmetrical results on consumers and producers side and global imbalances. Oil scarcity and increasing demand of emerging market countries have changed oil market as well as political uncertainty leads to an increase in oil volatility. Since 2000, crude oil has experienced an incredible price rally, moving from $25 in 2000 to over $144 in July 2008 and getting back later December 2008 to $35. These huge price changes are mainly undesired because they increase uncertainty and undermine investment in oil as well as alternative energy sources. Even if we are getting more and more familiar with this price uncertainty or at least with oil price volatility, it is necessary to understand the key driver of this commodity in order to be able to conduct accurate studies and to forecast and prevent new worldwide market chock: there are mainly two different explanation to oil price behavior. The first one is related to the idea that markets are experiencing a structural transformation in oil price fundamentals; the second one is related to substantial speculation in oil market. The supporters of this second view argue that the massive oil crude price cannot be explained by simple change in market fundamentals but can be rather explained through a market distortion caused by speculators. This dissertation will investigate oil and the oil market players trying to understand the different price determinants and the interaction of key players: it starts with an historical overview of oil price and it successively analyzed oil as a commodity, oil as a financial asset, the role of expectations in the formation of oil price, the industry outlook for the next years, oil derivatives on the financial markets. Oil Fundamentals History Oil industry was born in the 1859 in Pennsylvania, United States when Edwin Drake opened the first oil well. The industry grew slowly during the second half of 1800 when the business pioneer George Bissell together with the banker, James Townsend, established the first oil company: Pennsylvania Rock Oil Company. The industry became more and more attractive and in 1870 John D. Rockefeller established the Standard Oil Company. Boosted by the introduction of the internal combustion engine and by an increasing energy demand caused by the outbreak of World War I, the oil industry became one of the foundations of modern industrial society, ready to overcome coal as the most used and requested energy source. As the graph points out the price of oil remained steady from the beginning of the century until the first energy crisis, risen by less than two percent per year. Spot crude oil price moved from $2.83 per barrel of 1973 to $10.41 of 1974. This increase in price was caused by the oil embargo proclaimed by the OPEC, Organization of Arab Petroleum Exporting countries in response to the U.S. decision to re-supply the Israeli military during the 1973 Arab-Israeli War, fought between Israel and a coalition of Arab states backing Egypt and Syria. The OPEC countries limited their production as well as the shipment of oil cargos to United States and other countries. The embargo led to quadrupled and extremely volatile oil price and it showed how high was the dependency of western economies from the oil reserves controlled by the OPEC members. Following the first oil crisis, in 1979 took place another sharp rise of oil prices following the Iranian revolution: the overthrow of the regime of Sha h Reza Pahlavi triggered a strong speculative movements of oil price. The price increased from the $14 needed to buy a barrel in 1978 to roughly $30 in 1979 causing a widespread panic and affecting geopolitical forces. Moreover in 1980, Iraqi invaded Iran leading to oil cut production of Iraq and a total stop of Iranian production. All these events strongly influenced oil price and demonstrated how pure supply and demand get overcome from sociopolitical facts. The so-called oil glut of 80s changed again the oil market environment as the price of the black gold fell from $35 to $15 in 1986 due to a falling demand, slowed economic activities in industrial countries and an increase in production. The crude oil price fluctuated between $15 and $25 until 1999. At the beginning of the new century the oil price increased exponentially and reaching $30 in 2003, it moved to $60 dollar in 2005 and peaked at $148 in 2008. This incredible ride of oil can be explained by different factor such as decreasing US Dollar value against other currencies, declining petroleum reserves, speculation, increasing demand from emerging market and OPECs lower than expected increase in production. But after reaching the peak on July, 11th 2008 the price declined consistently falling below $100 on September 2008. Because of the financial crisis world oil demand fell rapidly and in just a couple of months it touched the lowest point at $34. Until April 2009 oil price flu ctuated between $35 and $40 and recovered to roughly $70 in early 2010. Oil as a product People are more familiar with refined oil products such as gasoline, diesel, kerosene and heating oil rather than with crude oil. The basic oil refining process is distillation: crude oil is heated and oil products bubble off at different temperatures, the lightest at the lowest temperatures and the heaviest at the highest temperatures  [1]  . Afterward these products are treated further to make finished oil products such as gasoline kerosene etc. Gasoline is commonly used for cars while kerosene is widely developed for airplanes and households illumination heating. Diesel is widespread as combustible for tracks and agricultural machines while heating oil is mainly used for space heating. Oil this different refined products come from crude oil and even if crude oil is considered as a commodity, there are several qualities of crude depending mainly on two different chemical properties: density and sulphur content. Crude oil is therefore divided into heavy or light according to the density level and sweet or sour according to the sulphur content. Nonetheless, in financial market, the three most quoted products are: West Texas Intermediate Crude, WTI very high-quality, sweet, light crude widely traded in Nord-America Brent Crude a basket of 15 similar middle-high quality, light, sweet crude oils extracted in the North Sea Dubai Crude light sour crude oil extracted in Dubai Even though West Texas Intermediate Crude has the highest quality, Brent is used to price two thirds of the worlds internationally traded crude oil supplies according to the International Petroleum Exchange (IPE). Oil characteristics: Exhaustibility One of the leading feature of oil is that oil is a non-renewable resource as once it is consumed, it is no longer available. In particular once extracted, oil is consumed quicker that it is naturally produced: oil is therefore not replaceable within short time. Another very important feature is that supply of such as product is limited relative to demand. This two characteristics are essential to understand that oil can only be analyzed through dynamics models and that unlike standards goods, oil provides oil holder a positive premium known as scarcity rent. When demand for crude oil exceeds supply, oil price earns an economic rent due to its scarcity: in other words, it worth keeping oil underground waiting for increase in demand not covered by an increase in supply. The framework which is widely widespread regarding non-renewable resources is the Hotelling model: first introduces in 1931, the model questioned which is the amount of resources that should be extracted during a certain time frame in order to maximize the profit of the resource holder? Assuming no extraction costs, a risk free rate on investment equal to r and a certain price per barrel, according to Hotelling model, the optimum extraction quantity is the one that leads the price of oil to grow over time at a interest rate r. In other words, the resource holder has two opportunities: he can extract oil today or he can leave it underground waiting for a rose in price. Assuming that he decides to extract a certain amount today, he can invest the proceeds at a risk free rate r; otherwise, if oil price is expected to grow at a higher rate than r, the resource holder is not incentivized to extract oil. Thus, if all the resource holders behave the same way, it is highly probably that oil price will increase. Therefore, according to Hotelling models, the optimum extraction is the one in which oil price grows at the rate of interest. This model suggests and implies that oil price will increase over time: due to oils exhaustibility oil price must increase as fast as it is consumed. Even though Hotellings model is commonly used to predict the shape of oils trend, one of the most important Hotellings assumption is that the reserves of oil are fixed: as can be understood later on in the dissertation, oil reserves calculation is far from being detailed and exhaustive. Oil is extracted as well as found continuously: new reserves become continuously new available resources. Thus, an argument against the Hotelling approach is that it is not possible to evaluate scarcity rent and therefore it is not possible to use models such the Hotelling one which are based on this data. Demand and supply. As for any product, the main drivers influencing oil price are demand and supply. In the long term oil price is determined by the match of demand and supply; however, due to the peculiarities of oil, it is really difficult to predict future price: unknown future events, wars, natural events, OPEC decisions on cutting production and demand elasticity shape different demand-supply equilibriums. While price and income are demands main drivers, on the supply side it is necessary to take into consideration several factor such as reserves, oil depletion, technologies and oil cartel decisions. Oil Supply In January 2010, global oil supply accounts for 85,8 million barrels per day, out of which 51,6 has been produced by non-OPEC countries. There are different factors that are needed to take into consideration analyzing crude oil demand. Evaluating the supply is more complicated than evaluating the demand as there are different player involved, OPEC and non-OPEC countries and there is the central issue related to oil reserves level. First of all, exporting countries do not incur in any storages cost for crude oil as they can simply decide to leave oil underground while importing countries, in order to establish a minimum reserve level, need to built storage facilities. In regard to production countries, the most important and influential player is the Organization of the Petroleum Exporting Countries. While non-OPEC countries act competitively, OPEC is a cartel whose aim is to maximize revenues and profits. OPEC The Organization of the Petroleum Exporting Countries (OPEC) is a permanent, intergovernmental organization founded in Baghdad in 1960 and at that time it encompassed 5 countries: Iran, Iraq, Kuwait, Saudi Arabia and Venezuela. The founding members were later joined by nine other members: Qatar (1961- 2009); Indonesia (1962 2009); Socialist Peoples Libyan Arab Jamahiriya (1962); United Arab Emirates (1967); Algeria (1969); Nigeria (1971); Ecuador (1973); Angola (2007) and Gabon (1975-1994). Since 1965 OPEC headquarters is Vienna. It is interesting to highlight that the declared mission of the organization is to coordinate and unify the petroleum policies of member countries and ensure the stabilization of oil markets in order to secure an efficient, economic and regular supply of petroleum to consumers, a steady income to producers and a fair return on capital to those investing in the petroleum industry  [2]  . In order to understand the relevance of the OPEC countries over oil market, it is important to quantifies to what extend are worldwide oil reserves in OPEC territories: at the end of 2008, world proven crude oil reserves stood at 1,295,085 million barrels, of which 1,027,085 million barrels, or 79.3 per cent, was in OPEC member countries. In 2008 OPEC countries produced around 33 million barrels per day of crude oil, or 45.9 per cent of the world total output  [3]  . Besides owing the largest oil reserves, OPEC countries have the lowest production costs: roughly $4.00 per barrel for Saudi Arabia or $ 4.50 for Iran, as compared, for example, with $9.85 for the North Sea and $12.50 for Brazil.  [4]   Non-OPEC countries Non-OPEC countries are generally considered as price taker and even though in the last decade oil price has grown consistently and observers would expects a proportional increase in non-OPEC supply, the response of oil producers countries outside OPEC has been weak. There are several factors that are needed to taken into account in order to understand this behavior: first of all it is becoming more and more costly to develop oil reserves in this countries and the level of technologies needed to increase or at least maintain stable the production output is really high and expensive. Moreover, price volatility has increased uncertainty, changing the risk profile of non-OPEC countries: they are becoming more sensitive to oil price cycle. Investment are therefore asymmetrical: during tremendous increase in oil price, investment are modest, while during a decrease in crude oil price investment rate in exploration or new technologies decrease consistently leading sometimes to underinvestme nt periods. In order to analyze non-OPEC countries oil supply, it is possible to use a model introduce by Marion King Hubbert in 1956. According to Hubbert model, known also as the Hubbert peak theory, oil production tends to follow a bell-shaped curve which can be divided in three different phases: the first one, the pre-peak phase shows a exponential growth in oil production; around the peak, the production reaches the maximum production level and the production becomes stagnant; in the following phase, the last one, oil production starts a terminal decline due to resource depletion. The peak is reached when half of the oil reserves has been discovered and used: in order to draw the bell-shaped curve, it is necessary to calculate historical cumulative production, discovery rate of new oil deposit and the size of the URR, ultimately recoverable reserves. The main idea of the model is in fact that oil is a finite resources and therefore, when discovery rate is less than the oil consumption rate, oil production starts inexorably to decline with all the related consequences on oil price. The bell curve is drawn considering both the cumulative production and the remaining volume of oil that will be produced as a percentage of the total oil already produced in past. As a consequence it can be used in order to calculate and forecasts oil production and consequently price forecasts. According to Hubbert, North America reached the peak point in 1960, while in United Kingdom and Norway the maximum has been touched in 1999. The limits of this approach are related to the difficulties to calculate ultimately recoverable reserves: improvements in technologies and discoveries of new deposits or higher exploitation of existing deposits are pushing the oil peak to the right. Instead of being static, ultimately recoverable reserve is a dynamic measure: underestimation or overestimation of oil reserves as well as higher rate of technological improvements lead to mistakes in calculation of the year in which world will reach the peak oil. Oil reserves A proper forecast of existing oil reserve is a fundamental aspect of oil supply as it is central to Hubbert peak theory. First of all, it is necessary to define the different type of reserves available: Proved reserves are crude oil reserves that once calculated, provide at least with a rate of 90% of certainty at least the oil crude amount estimated. This depends on how accurate are the geological researches Unproven reserves are crude oil reserves similar to proved reserves but for several reasons such as political or contractual are certain for a rate lower of 90%. Therefore unproven reserves are divided into probable reserves which are reserves that are certain for at least 50 % of the amount estimated and possible reserves which are unproven reserves that are certain only for a 10% of the previous amount estimated Given the different definition of oil reserves, it is very important to highlight that there is not a convergence estimation of oil reserves: several studies calculated different reserves level according to different study methods and according to the extent of proved and unproved oil definition. Another distortion of oil reserve calculation is due to the fact that exporting countries are willing to overestimate their reserves because higher are the reserves, higher is the quantity that they can sell or export. Moreover, higher are the reserves declared, higher are the loan that these countries can raise. There is another issue related to the difference between conventional oil and unconventional oil. Unconventional oil refers to the oil extracted using other techniques than the common oil well method such as biofuels, oil shale, oil sands etc. In addition to these, there are reserves of oil that are yet to be discovered but given the current level of technologies are too difficult to be reached and explored. It is therefore clear that oil reserve calculation is really complicated: according to OPEC annual statistical bulletin 2008, world proven crude oil reserve are estimated to be 1,3 trillion barrels out of which 79, 3% are maintained under OPEC countries ground  [5]  . According to the Oil Gas Journal  [6]  , in January 2009, proved world oil reserves were estimated at 1,342 billion barrels-10 billion barrels (about 1 percent) higher than the estimation for 2008; 56 percent of the worlds proved oil reserves are in the Middle East while just under 80 percent of the worlds proved reserves are concentrated in eight countries out of which only Canada and Russia are not OPEC members. According to BP Statistical Review Of World Energy of June 2009 proven reserves accounts for 1258 billion barrels, AGGIUNGI Oil Demand In 2009 the worldwide oil demand fell by 1.4 percent in comparison to 2008 due to the financial crises that invested mainly OECD countries: this was the biggest drop since early 1980s. During the previous period, 2003-2007 growth rate in oil demand averaged 2,0% per year, 0,8% faster than during the preceding 5 years and 1,2 % faster than it average since 1980  [7]  . Around 90% of demand growth during this period came from non-OECD economies. Indeed, OECD demand has been falling year on year since the end of 2005. Daily crude oil demand in early 2010 has reached 86.5 million barrels as the last quarter of 2009 has been the first quarter of demand recovery after 5 consecutive quarters of decline. GO ON Oil market volatility and elasticity Price elasticity to crude oil demand The relationship between oil demand and price can be analyzed looking at elasticity of demand: elasticity measures the relationship between the change in quantity of oil demand for a given change in oil price. As the chart XX shows, both short term and long term price elasticity of demand are really is low ranging from 0 to -0.6. Furthermore it is clear that short term elasticity of oil demand is even smaller with a range from 0 to -0,1. This means that change in oil price have a very little impact on long term crude oil demand an even lighter effects on short term oil demand. The difference between short and long term demand responsiveness to change in oil price is due to bigger rate of substitution and energy conservation in the long term. What is really important to notice is that oil demand may respond asymmetrical to changes in oil price  [8]  ; in other words there is a substantional difference of demand elasticity for either an increase in price or a decrease in price. For an increase in oil crude price it is expect a reducing demand, but it is not necessarily true that a decreasing oil price would lead to an increase in demand of the same measure: for example an increase in oil price can be exploited in order to invest heavily on innovation and new equipments that would increase oil production leading to a positive impact on price. Last but not least, there is another important aspect concerning demand elasticity that has to be taken into account: the responsiveness of oil demand to a new peak price is different to the responsiveness of oil demand to a price recovering  [9]  . It is possible to describe two different elasticity scenarios at different price levels: elasticity of demand during increase in oil price that lead to new price records, elasticity of demand during increase in oil price following a low point in price history As expected, some studies argues that higher responsiveness of change in oil price can be seen when oil price is reaching new records, while there is a lower elasticity for other changes in price level. Thus, to summarize, elasticity of demand is not always linear, it may respond asymmetrically to changes in oil price and it can be different depending to historical price level. Income elasticity of price crude demand Income elasticity of crude oil demand measures the change in quantity of oil demanded for a given change in income. As the graph xx points out, income elasticity is more responsive in comparison to price elasticity: the long run elasticity ranges from 0,4 to 1,4. Moreover there is an important difference between income elasticity of emerging market and OECD. Emerging markets shows higher income volatility demonstrating how important is oil in their production processes. Spare capacity A very important component and determinant of oil market is oil spare capacity, the amount of excess production that oil producers can bring online quickly. The volume of spare capacity is fundamental as it can be a driver of oil price: spare capacity is in fact utilized to balance excess of oil demand and it can be used to counterbalance temporary oil shock. In other words, spare capacity is a tool that offers flexibility to the market: the higher the spare capacity, the higher is the ability to absorb oil price shock or respond to unexpected increase in demand. Thus in the short term, spare capacity can be exploited to offset increase in demand until oil supply is adjusted to meet demand. As the graph points out , there is an inverse correlation between oil price and spare capacity: high spare capacity level is associated to weak oil price, while when spare capacity is low oil price is expected to be high or increasingly. Spare capacity evolution over years have dropped from 10 million barrel per day of the late 90s to less than 2 million barrel per day or 2% of global oil demand in 2004. In particular, the increase in demand not covered by an increased in supply of non-OPEC countries has been met by OPEC using also spare capacity and therefore diminishing them. As expected, during the credit crunch that took place in late 2008, oil price fell dramatically while the spare capacity increased reaching 6% of global oil demand. According to the International Energy Agency, OPEC spare capacity excluding Iraq, Venezuela and Nigeria, accounts for 5,54 million b/d.. in addition to this, other 5,8 million b/d are estimated to be producible by OPEC countries within 3 months. To sum up, it is clear the role of spare capacity in oil market economy: a relevant inventory allows to maintain the flexibility required in order to play an active role once an oil shock is predicted or strong is conducting price to new records. The key issue is whether it is possible in the current scenario to maintain or even increase spare capacity and which is the player that should take this responsibility. Should oil companies create bigger inventories, even if it is uneconomical from a profits maximization point of view to hold higher reserves than needed, or should national oil companies keep bigger reserves? Oil demand projections According to the World Economic Outlook of the International Monetary Fund issues in April 2009, global oil demand is expected to grow by 0,6% or 540000 barrel per day per year on average between 2008 and 2014. World oil demand will therefore increase from 85,8 mb/d to 89mb/d while in a more conservative scenario it is expected that demand will remain stable around 85 mb/d depending on how fast and how strongly global recovery will take place. Given the recent historical pattern of oil demand it is highly probable that non OECD countries will drive oil demand growth within the next future; oil consumption in OECD countries will tighten. Asia, Middle East and Latin America will increase their oil demand by 2,6%, from 38,3 mb/d to 44,6 mb/d over 2008 to 2014 on average per year while at the same time, OECD consumptions will declined by 1,1 from 47,5 mb/d to 44,4 mb/d. As the graph points out, by 2013 non-OECD oil demand will be equal to OECD oil demand. The growth in oil demand of non-OECD reflects higher GDP growth expected as well as higher income elasticity to crude oil. In fact in several emerging market, oil price is administered: in Iran for example gasoline costs just à ¢Ã¢â‚¬Å¡Ã‚ ¬0,8 per liter while OECD countries are usually more responsive to oil price changes Macroeconomic Variables Exchange Rates The relationship between exchange rates and oil prices is complex and it is necessary to note that generally when there is a depreciation of the dollar, oil price expressed in dollar increases. Being dollar the most widespread currency for oil price, a lower exchange rate of the dollar to another currency leads to a minor foreign currency cost of oil causing a rise in oil demand. This increase in demand put upward pressure on the price of oil. Having said that, it is not possible to estimate a precise relationship between oil price and the value of dollar exchange rate: all it is possible to say is that oil price moves roughly proportionally to change in dollar value ceteris paribus. Thus a 10% increase in nominal exchange value of the dollar causes a 10% decrease in oil price expressed in dollar, ceteris paribus. As the graph XX shows, the dramatically decrease in exchange value of the dollar since 2002 and the strong increase of WTI crude oil price in different currencies, would su ggest the inverse relationship between oil price and dollar exchange rate is true even if it is not possible to evaluate to what extent. Looking at the relationship between oil price and exchange rate, another important factor that should be taken into account is the decision of leading oil exporters: if dollar depreciates against other currencies, oil exporters international purchasing power declines. In order to protect their interest, leading oil exporters tend to tight oil supply, leading to an increase in oil price. Another issue that should be taken into consideration looking at the exchange rate is that United States is a major oil producer and oil consumer; an increase in oil price has therefore a double effect: it leads to a deprecations of dollar against the currencies of exporting countries and an appreciation against the currencies oil importing countries. Even if this two divergent movements of exchange rate should be cancelled out each other, in the last years oil imports of oil in the Unites States has soared causing a major concerns in the American capability to respond to and increasing trade deficit influencing negatively the value of the dollar. Interest rates The relationship between oil price and interest rate is not univocal as it is impossible to identify a singular and unique effect of changes in interest rate on oil price. Generally the correlation between these two data is inverse as a decrease of interest rates would lead to increase in price. On the contrary, a decrease of interest rates in order to recover from a financial downturn would lead to a decrease in oil price which would suggest a positive correlation. An explanation of the reason why there is a negative correlation is that an expansionary policy causes a cost reduction of storing cost for commodities goods, driving up the oil price. On the other hand, a change of U.S. interest rate will have an impact on the pegged currencies to U.S. dollar or to the currency currencies which are traded against the American one: too expansionary policy in the U.S. may not be proper to foreign central banks influencing foreign economic growth and consequentially oil prices. Oil price speculation or massive change in oil fundamentals? One of the main issue related to oil price is whether increasing volatility and rise in prices during the last decade has reflected a massive change in oils fundamentals or if market speculators played an active role in massive price fluctuations. In particular it is necessary to understand if the oil price reached the high ever level in 2008 due to growing flow of money in oil derivatives or due to enormous change in underlying fundamentals, supply and demand. An increase from $28 per barrel in early 2002 to over $100 per barrel at the end of 2007, heading to the record $140 in 2008 and then falling below à ¢Ã¢â‚¬Å¡Ã‚ ¬40 by the end of 2008 is the result of the burst of an energy bubble or it the natural evolution of oil price during a worldwide financial crises? In other words, it needs to be investigated if the strong increase followed by the collapse in oil price is a cause or a result of the main worldwide financial crises. As analyzed in the first part of the dissertation, oils demand and supply during the period 2002 and 2008 changed significantly: emerging countries such as China and India drove oil demand while at the same time, oil suppliers reacted slowly and they tighten spare capacity. Those that support oil demand a

Capital Punishment Essay -- essays research papers fc

  Ã‚  Ã‚  Ã‚  Ã‚  Capital punishment is a method of retributive punishment as old as civilization itself. Anti-death penalty supporters argue the death penalty is unconstitutional. Capital punishment is a barbaric remnant of an uncivilized society. It is immoral in principle, and unfair, and discriminatory in practice. It assures the execution of some innocent people. As a remedy for crime, it has no purpose and no effect. The arguments against capital punishment are many and cogent.   Ã‚  Ã‚  Ã‚  Ã‚  Capital punishment is irrevocable, and the errors of justice cannot be rectified. All possibility of reconsideration is taken away. Innocent persons have been hanged, and judge, jury, and the legal machinery involved have thereby been made a privy to the very crime they sought to punish. The only way to destroy a criminal is by reforming the man who is a criminal. To destroy a criminal is by reforming the man who is a criminal. To destroy his bodily life is nothing but a stupid blunder.   Ã‚  Ã‚  Ã‚  Ã‚  The strongest argument against using capital punishment for retributive purposes, is the argument that capital punishment is cruel and unusual punishment. The Eighth Amendment of the United States Constitution, condemning cruel and unusual punishment, is used to protest capital punishment. Officials often defend this punishment as not being cruel and unusual, but how can they defend this opinion in the case of John Evans, who was executed by electrocution in 1983? According to witnesses at the scene, Mr. Evans was given three charges of electrocution over a period of fourteen minutes. After the first and second charges, Mr. Evans was still conscious and smoke was coming from all over his body as a result of flesh burning. An official there even tried to stop the execution on account of it being cruel and unusual punishment, but was unsuccessful. Witnesses later called the whole incident a â€Å"barbaric ritual.† Studies show that in this century at least four-hundred innocent people have been convicted of capital crimes that they did not commit, and of those four-hundred, twenty-three were executed. The wrongful execution of an innocent person is an injustice that can never be rectified. Maybe the punishment would not be as bad if there was absolute surety that the person the jury was putting on death row was guilty, but as most... ...nbsp;  Ã‚  Ã‚  Ten Commandments radio program delivered in the early 90's.   Ã‚  Ã‚  Ã‚  Ã‚     Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Gross, R. and Robert Mauro. Death and Discrimination.   Ã‚  Ã‚  Ã‚  Ã‚   Northeastern University Press, 1989   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Bohm, Robert M.. ed. The Death Penalty in America: Current Research.   Ã‚  Ã‚  Ã‚  Ã‚  Anderson Publishing Co., 1991   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Radelet, Michael L. ed. Facing the Death Penalty.   Ã‚  Ã‚  Ã‚  Ã‚   Temple University Press, 1989 Capital Punishment Essay -- essays research papers fc   Ã‚  Ã‚  Ã‚  Ã‚  Capital punishment is a method of retributive punishment as old as civilization itself. Anti-death penalty supporters argue the death penalty is unconstitutional. Capital punishment is a barbaric remnant of an uncivilized society. It is immoral in principle, and unfair, and discriminatory in practice. It assures the execution of some innocent people. As a remedy for crime, it has no purpose and no effect. The arguments against capital punishment are many and cogent.   Ã‚  Ã‚  Ã‚  Ã‚  Capital punishment is irrevocable, and the errors of justice cannot be rectified. All possibility of reconsideration is taken away. Innocent persons have been hanged, and judge, jury, and the legal machinery involved have thereby been made a privy to the very crime they sought to punish. The only way to destroy a criminal is by reforming the man who is a criminal. To destroy a criminal is by reforming the man who is a criminal. To destroy his bodily life is nothing but a stupid blunder.   Ã‚  Ã‚  Ã‚  Ã‚  The strongest argument against using capital punishment for retributive purposes, is the argument that capital punishment is cruel and unusual punishment. The Eighth Amendment of the United States Constitution, condemning cruel and unusual punishment, is used to protest capital punishment. Officials often defend this punishment as not being cruel and unusual, but how can they defend this opinion in the case of John Evans, who was executed by electrocution in 1983? According to witnesses at the scene, Mr. Evans was given three charges of electrocution over a period of fourteen minutes. After the first and second charges, Mr. Evans was still conscious and smoke was coming from all over his body as a result of flesh burning. An official there even tried to stop the execution on account of it being cruel and unusual punishment, but was unsuccessful. Witnesses later called the whole incident a â€Å"barbaric ritual.† Studies show that in this century at least four-hundred innocent people have been convicted of capital crimes that they did not commit, and of those four-hundred, twenty-three were executed. The wrongful execution of an innocent person is an injustice that can never be rectified. Maybe the punishment would not be as bad if there was absolute surety that the person the jury was putting on death row was guilty, but as most... ...nbsp;  Ã‚  Ã‚  Ten Commandments radio program delivered in the early 90's.   Ã‚  Ã‚  Ã‚  Ã‚     Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Gross, R. and Robert Mauro. Death and Discrimination.   Ã‚  Ã‚  Ã‚  Ã‚   Northeastern University Press, 1989   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Bohm, Robert M.. ed. The Death Penalty in America: Current Research.   Ã‚  Ã‚  Ã‚  Ã‚  Anderson Publishing Co., 1991   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Radelet, Michael L. ed. Facing the Death Penalty.   Ã‚  Ã‚  Ã‚  Ã‚   Temple University Press, 1989

The Black Cat Essay -- essays research papers

The Black Cat   Ã‚  Ã‚  Ã‚  Ã‚   The Black Cat, by Edgar Allen Poe, is a story about a man whose love for animals is overcome by an extreme hatred toward the creatures. What goes around comes around is a saying that would most effectively convey the message of this story because Poe implies that people will inevitably suffer the consequences of their actions. Through the careful construction of plot, the ongoing use of irony, and the rapid development of character, Poe captures the reader’s undivided attention and evokes a wide variety of emotions through this short story   Ã‚  Ã‚  Ã‚  Ã‚  This story is a confession of an atrocious sin told by an old man on his deathbed. The plot begins to unfold as the main character reflects back on his childhood. He recalls having been an animal lover all of his life. A conflict first arises between himself and Pluto, his cat. He becomes angered when the cat rejects him out of fear. However, he quickly resolves this problem by killing the cat. Throughout the story he seems to be having an 2 inner conflict as well. He realizes how horrible and atrocious his sins are but is unable to feel remorse. While he seems to be an intelligent and virtuous man, he cannot seem to control his violent fits of drunken rage. He also deals with conflict on a more spiritual level. The cat that he has killed is haunting him. He tries to shrug it off as coincidence, but every time he comes up with an explanation for an unsettling even...

Mobilizing a Nation: America’s Entry Into World War I :: United States History Historical Essays

Mobilizing a Nation: America’s Entry Into World War I Works Cited Missing Woodrow Wilson delivered his now-famous War Message to Congress on April 4, 1917. Four days later, Congress declared war and the United States became a formal partner in the war to end all wars. As the Wilson administration was to discover, however, declaring war and making war were two very different propositions. The former required only an abstract statement of ideals and justifications and a two-thirds Congressional majority; the latter required the massive mobilization of virtually every sector of American society - military, industrial, and economic, as well as public opinion. The Wilson administration sought to accomplish this daunting task in two concomitant and interdependent fashions. First, it undertook an unprecedented assumption of federal control and regulation. The federal government established an array of bureaus and agencies endowed with sweeping powers to regulate the nation’s economy and industrial production. Furthermore, it passed a ser ies of laws designed to support these agencies and to stifle what it deemed subversive antiwar opinion and activity. Second, and of equal importance, the administration appealed to the public’s patriotism and sense of civic responsibility, effectively encouraging volunteerism in both the public and private sectors. Each of these tacks was bulwarked by a pervasive dose of pro-war government propaganda. In the end, in terms of raising an army, mobilizing the economy and influencing the outcome of the war, the administration’s mobilization efforts were largely successful. However, there were significant consequences to the government’s actions, most acutely in the realm of civil liberties, both during and in the aftermath of the war. One of the earliest examples of federal muscle in wartime mobilization was the passage of the Lever Act in August 1917. The act gave the president the power to regulate supplies and prices of food and fuel by creating two new government agencies: the United States Food Administration and the United States Fuel Administration, headed by Herbert Hoover and Harry Garfield, respectively. Hoover and Garfield operated with â€Å"virtually unlimited power† and used the implicit threat of federal nationalization to regulate prices and cajole producers into increased production and conservation (Zeiger, 72).

Terminal Data Capability

Terminal Data Capability [What is it? ] – Generally, It is a data element that stores information particularly on terminal that can be individually addressed by tag ID. Data element resident in the terminal shall be under control of one of the following parties:†¢ Terminal manufacturer: For example, IFD Serial Number†¢ Acquirer/Agent: For example, Merchant Category Code†¢ Merchant: For example, Local Date and Local Time (these may be controlled by either merchant or acquirer)Terminal should be constructed in such a way that data which is under control of acquirer is only initialised and updated by the acquirer (or its agent).[Types] 1. Application Independent[1] Data:†¢ Terminal related data†¢ Transaction related data -Unique to terminal. -Shall have parameters initialised so that it can identify what language(s) supported to process the card’s language preference.2. Application Dependent[2] Data: [Characteristic] – A terminal data shall be initialized in the terminal or obtainable at the time of a transaction. A terminal data can be of any format: alphabetic, numeric to binary. – Some terminal data serves as a constant whereas the rest is updatable. – Each terminal data has its own functionality and usage which facilitates an EMV transaction. – The dependency of the terminal data in application indicates how data management is done in terminal. – During the transaction, the terminal shall ignore any data object coming from the ICC which is terminal-sourced or issuer-sourced. [How it involved in EMV] Transaction (Exchange/Supply Data to ICC) Counter Record (updatable) ComparableReference Notes: Terminal data element, ICC data element, Issuer data element, EMV function. [Counter] [Record] Cardholder Verification Method (CVM) Results: – Being set/updated upon Cardholder Verification completion. [P102B3] – Consists of 3 bytes: CVM Performed, CVM Condition, and CVM Result. †“ There are 5 applicable CVMs in Cardholder Verification: Online PIN, Offline PIN, Signature, No CMV Required, and Combo CVM (2 CVM combination). – After a successful CVM, CVM Results reflect the successful CVM; an unsuccessful CVM, CVM Results reflect the unsuccessful CVM. Byte 3 of CVM Results is set to ‘successful’, IFF: i. Applicable CVM is ‘No CVM required’, and terminal supports it. ii. Offline PIN verification by the ICC is successful. – Byte 3 of CVM Results is set to ‘unknown’, IFF: i. Applicable CVM is ‘Signature’, and terminal supports it. ii. Online PIN verification is successful. – Byte 3 of CVM Results is set to ‘failed’, IFF: i. Previous applicable CVM is failed, and succeeding (last) application CVM failed as well. – Byte 1 and byte 2 of CVM Results indicate method and condition of the last performed CVM throughout CMV List.In addition, byte 2 is set to ‘00’ (N o meaning) IFF byte 1 is ‘3F’ (No CVM performed). – Table 2: shows all the possible failed/unknown CVM Results. [P49P121B4] Terminal Verification Result (TVR) Initialized to 0: Initiate Application Processing Function: Offline Data Authentication, Processing Restrictions, Cardholder Verification, Terminal Risk Management, Online Processing, Issuer-to-Card Script Processing. Use in analysis: Terminal Action Analysis. Description: Status of different function as seen from terminal. Diagram: [P165B4], TVR bytes breakdown: TVR byte |EMV Function |Status jotted on bits |When will it be set | | | |RFU |Reserved for future use | | | | | | | | | | | |1 |Offline Data | | | | |Authentication | | | | | |RFU | | | | |CDA failed |If CDA is performed but unsuccessful. [P44B4] | | | |DDA failed |If DDA is performed but unsuccessful. | | | |Card appears on terminal exception (set at Terminal Risk |If a match on presence card (Application PAN and Application PAN | | | |Management ) |Sequence Number) is found in the exception file. | | |ICC data missing (Can be set at any function) |When an optional data object that is required because of the | | | | |existence of other data objects or that is required to support | | | | |functions that must be performed (AIP) is missing. | | | |SDA failed |If SDA is performed but unsuccessful. | | | |Offline Data Authentication was not performed |If neither SDA nor DDA nor CDA is performed. | | |RFU | | | | | |Reserved for future use | |2 | | | | | |Processing Restriction | | | | | |RFU | | | | |RFU | | | | |New Card (set at Terminal Risk Management) |If Last Online ATC Register == 0. [P113B3] | | | Requested service not allowed for card product |If all test against Issuer Country Code and Terminal Country Code | | | | |fail. [T32B4] | | | |Application not yet effective |If Transaction Date > Application Effective Date | | | |Expired application |If Transaction Date > Application Expiration Date | | | |ICC and terminal have different application versions |If AVN in ICC ? AVN in Terminal. | | |RFU |Reserved for future use | | | | | | |3 | | | | | |Cardholder Verification| | | | | |RFU | | | | |Online PIN entered |If online PIN is successfully entered. | | | |PIN entry required, PIN pad present, but PIN was not entered |If CVM is online/offline PIN, but bypassed by terminal in the | | | | |direction of merchant or cardholder. | | |PIN entry required and PIN pad not present or not working |If CVM is online/offline PIN, but neither of them were supported | | | | |by terminal or malfunctioned PIN pad. | | | |PIN Try Limit exceeded |If PIN Try Counter < 1. | | | |Unrecognised CVM |If CVM is not recognized by terminal. | | | |Cardholder Verification was not successful |If CVM List is exhausted without any successful case or applicable| | | | |CVM indicates ‘Fail CVM Processing’. | | |RFU | | | | | |Reserved for future use | |4 | | | | | |Terminal Risk | | | | |Management | | | | | |RFU | | | | |R FU | | | | |Merchant forced transaction online |An attended terminal may allow an attendant to force a transaction| | | | |online, such as in a situation where the attendant is suspicious | | | | |of the cardholder. If this function is performed, it should occur | | | | |at the beginning of the transaction. | | |Transaction selected randomly for Online Processing | | | | |Upper Consecutive Offline Limit exceeded |If ATC ? Last Online ATC Register (Precautious) or | | | | |If (ATC – Last Online ATC Register) > Upper Consecutive Offline | | | | |Limit. [P113B3] | | | |Lower Consecutive Offline Limit exceeded |If ATC ?Last Online ATC Register (Precautious) or | | | | |If (ATC – Last Online ATC Register) > Lower Consecutive Offline | | | | |Limit. [P113B3] | | | |Transaction exceeds floor limit |If (Amount, Authorize + Amount stored in log) > Terminal Floor | | | | |Limit. Or if (Amount, Authorize) > appropriate Terminal Floor | | | | |Limit. P111B3] | | | |RFU | | | | | | Reserved for future use | |5 | | | | | | |RFU | | | | |RFU | | | | |RFU | | | |Script Processing |Script Processing failed after final GENERATE AC |If an error occurred while ICC processing Issuer Script Template | | | | |1. | | | |Script Processing failed before final GENERATE AC |If an error occurred while ICC processing Issuer Script Template | | | | |2. | |Online Processing |Issuer authentication failed |When Issuer Authentication Data (part of authorisation response | | | | |message) from Issuer sent to ICC via EXTERNAL AUTHENTICATE/ second| | | | |GENERATE AC command failed, i. e. (SW1 SW2)! = 9090. [P120B3] | | | |Default TDOL used |If TDOL in ICC not presented and Default TDOL in terminal is used | | | | |to generate TC Hash Value. | Transaction Status Information (TSI) Initialized to 0: Initiate Application Processing Function: Offline Data Authentication, Cardholder Verification, Terminal Risk Management, Card Action Analysis, Online Processing, Issuer-to-Card Script Proce ssing. TSI byte |EMV Function |Status jotted on bits |When will it be set | | | |RFU |Reserved for future use | | | | | | | | | | | |1 | | | | | | |RFU | | | | |Script Processing was performed |If CDA is performed but unsuccessful. P44B4] | | | |Terminal Risk Management was performed |If DDA is performed but unsuccessful. | | | |Issuer Authentication was performed |If | | | |Card Risk Management was performed |When an | | | |Cardholder Verification was performed |If SDA is performed but unsuccessful. | | | |Offline Data Authentication was performed |If neither SDA nor DDA nor CDA is performed. | | |RFU | | | | | |Reserved for future use | |2 | | | | | | |RFU | | | | |RFU | | | | |New Card (set at Terminal Risk Management) |If Last Online ATC Register == 0. [P113B3] | | | |Requested service not allowed for card product |If all test against Issuer Country Code and Terminal Country Code | | | | |fail. T32B4] | | | |Application not yet effective |If Transaction Date > Application Effect ive Date | | | |Expired application |If Transaction Date > Application Expiration Date | | | |ICC and terminal have different application versions |If AVN in ICC ? AVN in Terminal. | [Comparable] [Reference] Array {What is it? } In data storage, an array is a method for storing information on multiple devices. In general, an array is a number of items arranged in some specified way – for example, in a list of in a three-dimensional table.In computer programming languages, an array is a group of objects with the same attributes that can be addressed individually, using such techniques as subscripting. An array is a collection of similar elements, must have the same data type. In random access memory (RAM), an array is the arrangement of memory cells. {Characteristic} You need an index to locate their value. The index starts from 0 and end with the length – 1. Data in array must be in same data type. {What is its implementation? } List, queue, stack, link list. —à ¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€œ [1] No matter what application is selected, its data will not be affected. [2] If an application changed, its value changed as well. ———————–Data Authentication Terminal Action Analysis Terminal Risk Management Read Application Data Online/ Offline Decision Processing Restriction ‘()34*[pic]hK? hAKyjhK? 0J;*[pic]U[pic]hY}_hY}_;*[pic]h;q;*[pic] h;qh;qh:[5? CJaJhm†¡Initiate Application Completion Script Processing Online processing & Authorization message request Card Action Analysis Cardholder Verification Data Authentication Terminal Action Analysis Terminal Risk Management Read Application Data Online/ Offline Decision Processing Restriction Initiate Application Completion Script Processing Online processing & Authorization message request Card Action Analysis Cardholder Verification

Cell Phone Use While Driving Essay

Cell phone use while driving has caused unnecessary injuries and deaths throughout history. Those injuries and deaths prove the ignorance of the victims and set an example for others. Many people have lost their loved ones in cell phone related accidents but with every experience comes a lesson, which in this case is that cell phone use while driving should not be allowed. The road would be a safer place to drive if the use of cell phone while driving is prohibited. The risk of accidents increases significantly when a cell phone is being used while driving. A study by the Harvard Center for Risk Analysis estimated that six percent of vehicle crashes causes about 2,600 deaths and 330,000 injuries a year, which can be linked to one or more of the drivers involved using a cell phone (â€Å"Cell Phone Use While Driving a Big Cause of Accidents†). According to this study, the use of cell phones while driving is causing many unnecessary deaths and injuries. To treat those irresponsible drivers, all the citizens of the United States pay in the form of taxes. The forbiddance of cell phone use while driving will not only make the United States to be a safer nation, but it will also make it a happier nation. Many people are unaware of the dangers and effects of cell phone use while driving. To most people, drunk driving is a very serious crime, but using a cell phone while driving is a trivial matter. However, a research by the University of Utah proves that drivers drunk at the .08 percent blood-alcohol level drive slower than drivers using a cell phone. Driving with a cell phone is more distracting because drivers tend to concentrate less on the road, and more on the conversation, which leads to many accidents. If one is caught driving drunk in Michigan, his or her license is suspended for several months and an additional fine ranging from $250-$10,000 has to be paid. If the crime of drunk driving has such punishments, then the use of cell phone while driving should also have severe punishments. To many people, it may seem that cell phone use while driving should not be outlawed because emergency calls need to be attended or made any time. However, people can pull over to the side and make or receive emergency calls. According to the Human Factors and Ergonomics society, cell phone distraction puts the driver at a four time great risk of a crash. It may take more effort to pull over, stop, and call, but doing so would decrease the number of accidents by a massive number. . Even using cell phones during school times can be a big problem. It can  distract a students studies, since he/she will be too busy texting and calling people; he/she wont be able to concentrate and will keep thinking about those text messages. If there is something bad then they will be depressed all day long. If parents need to talk to their children urgently they will be able to talk to them during school. Some students during classes are always tense because of someone/something so by calling or texting they can clear their tension and focus on studies. Cell phones will help them solve the problems outside the school so they can peacefully study. Schools should understand how important it is for students to study and this is only possible if they are not thinking about anything else. The rate of accidents for drivers using cell phones has increased alarmingly. The convenience that cell phones offer must be judged against the hazards that they pose. Therefore, the government should ban the use of cell phones while driving, which would not only decrease the number of traffic injuries and deaths, but will also make the road a safer place to drive. The use of cell phone while driving is a crime that should be outlawed and punished for severely. There are two dangers linked with driving and cell phone use, including text messaging. First, drivers should not take their eyes off the road while dialing. Secondly if the drivers start talking on the phone then they get so lost in others conversations that they have no clue what is going on in front of them which causes them to get in an accident. That is one reason why so many states and countries banned the use of cell phones while driving and even in schools so young teenage people know when they have to use the phone and when not to.