I Hope You Dance

I hope you dance â€Å"And when you get the chance to sit it out or dance, I hope you dance. † (Sillers,2010, ll. 8. &9. ) If you had the chance to sit it out or dance, would you dance? This amazingly, inspirational song was written by Tia Sillers when she was at her breaking point, sitting on the beach just after going through a heart wrenching divorce. It really is peculiar that such an inspirational and beautiful song such as â€Å"I hope you dance† was written at such a devastating time.As she sat beside the ocean, pondering on all that she been through, she realized, things aren’t so bad. She interprets this in her lyrics by saying â€Å"I hope you still feel small when you stand beside the ocean. † (Sillers,2010, l. 5) â€Å"I hope you dance† is unmistakabley pulled from deep within Siller’s soul. Anyone who hears this song, and truly takes these lyrics to heart could undoubtedly pull themselves out of whatever strife they may be go ing through at any given time. With Mrs.Siller’s inspirational words, she truly has created the most breath taking song of our time. I have a very deep understanding of this song because â€Å"I hope you dance† has helped me through some extremely difficult times. I was homeless at the age of sixteen and ready to give up on the world when I first heard this song playing over the radio. With the help of Sillers words I was able to find the inspiration inside myself and keep going to school even if it meant sacrificing a day of pay from missing work.I knew that although things would be extremely difficult to attempt to be able to work enough hours to get my own place and attend high school on a regular basis, but with the help of her words I found the motivation within myself to give it my all. After three months I had saved enough money for the deposit and first month’s rent and my grades we’re decent enough for me to graduate on time with the rest of my p eer’s. Now that I am more stable things have become less difficult, but whenever I am having a hard time, I simply go to you tube and listen to Siller’s song. I hope you dance† has undoubtedly shed light on an endless number of suffering souls.â€Å"Don’t let some Hellbent heart leave you bitter, when you come close to selling out reconsider. † (Sillers, 2010, ll. 15. 16. )Those lyrics convey the struggle life can throw at a person, but they are also telling them to never give up. Tia was trying to reach into the hearts of all the suffering souls out there, and try to get them to look at the bigger picture. â€Å"May you never take one single breath for granted. (Sillers, 2010, l. 3) Tia was trying to get the point across that life is a gift, and to simply sit it out and let it pass you by could be a tremendous mistake that no one can ever take back. She also indicates this in like thirteen: â€Å"Livin might mean takin chances, but they’re worth takin. † (Sillers, 2010, l. 13. ) Throughout life there are many obstacles to overcome, and not every road you take will be a smooth one, but the bumpiest road, will often lead you to the greenest field.Siller’s showed an understanding for this by writing â€Å"I hope you never fear those mountains in the distance. Never settle for the path of least resistance. † (Sillers, 2010, ll. 11. 12. ) Every successful person has had to struggle in life, but with struggle, comes satisfaction. If every person was able to listen to this song, but not just listen, understand this song, I feel as though statistics such as the high school drop-out rate, or the college drop-out rate would decrease.Giving up would simply not be an option. Sometimes we all need a little inspiration, something to get us motivated and focused on the bigger picture. Life is about making mistakes, Siller’s portrays this perfectly by saying â€Å"Whenever one door closes I hope one more opens. † (Sillers, 2010, l. 6. ) Although doors may close, and devastation may take a toll on a person’s life, one needs to be able to pick themselves back up, and open another door, but not just for the sake of moving, but for their own satisfaction.If â€Å"I hope you dance† was listened by everyone at least once a day, people would be able to find it in themselves to pick themselves up and keep moving forward, for with every step one takes forward is another step closer to their ultimate goal of success. No one would drown themselves in their own self-pity, for they could find the inspiration in themselves through the understanding of the lyrics of â€Å"I hope you dance. †References Kawashima, D (2010) â€Å"I hope you dance† Retrieved August 28, 2012 from Song Writer Universe: http://www. songwriteruniverse. com/sillers. htm

Emile Bronte and Wuthering Heights Essay

Wuthering Heights is one of the most influential novels of 19th century; even though a dark and powerful novel the deeper aspects of life and strong emotions form the pillar of the novel. The novel is intricately weaved with strong emotion, powerful imagery and the conflict of possession. It reveals the most complex love story interlaced with separation and union under most conflicting circumstances. Love has been portrayed as a very evasive powerful emotion where give and take is exercised in complete isolation, just with the individual soul, and in that manner every character is lonely and isolated. It has been critically analyzed that the circumstance and the characters in the book reflects close similarity to the writer Emile Bronte’s personal life and surrounding. Wuthering Heights is the only novel which she wrote and since Emile Bronte’s life was dark and dreary, Wuthering Heights was influenced by her experience of isolation. Emily Bronte was an extraordinary writer of 19th century known for her imaginative and inspiring streak which reflects in her work as well as her life. Emily never married, stood up for her inner convictions and lived all her life at her family’s home in Haworth Parsonage, near Yorkshire Moors in northern England. She loved her home and her surrounding, which was rugged, dreary and wild in landscape, full of storms and harsh and unpredictable weather. Her novel Wuthering Heights is very clear imagery of her home surrounding in manner of exposure to the moors, cliffs and the isolated and dark setting. (Jennings). The early tragedies of loss of her mother and her two elder sisters as a result of terrible illnesses, affected her very deeply being very closely associated with pain and isolation. She lived with her other siblings two other sisters and a brother creating an imaginary world inspired by the toy soldiers which was a gift from her father. Emily seemed to be more overpowered by this imaginary world, even as an adult unlike her other siblings. Her fantasy world was called â€Å"Gondal†, and this private world provided her with immense strength and inspiration. In this world which was ruled by a woman she was in charge and control of her life. The character of Catherine Earnshaw in Wuthering Heights reflects this aspect of her personality in imagination, holding on to her past and in her intensity of love, which gives her more pain than pleasure. The intensity and the passion is in proportion of the pain and anguish to save what she has in the depth of her heart fighting with the external environment tormented by harsh winds and storms. Wuthering Heights is in many ways a clear reflection of Emily’s life, and the society in which she lived where women were not treated as an equal with the men of the society. The rules by which women had to live were very strict and allowed for little freedom or independence. Catherine, merges with Emily in her thinking, feeling and intensity. Even the steps she takes to make compromises in her life, is reflection of her courage and strength as it is taken to ensure security for Heathcliff or to ensure that her love thrives in more secure circumstances. Catherine is wild and intense and follows her heart, in sincerity, the main objective of her life is make things better for Heathcliff, who is her other image. Heathcliff and Catherine are inseparable, they are like two bodies with one soul. They cannot live without each other, and all their life they are drawn in relationship, which changes with the change of identity for Catherine from Catherine Earnshaw as a girl and teenager who is madly and inseparably in love with Heathcliff, to Catherine Heathcliff as two inseparable identities merged into one and Catherine Linton who is the regeneration of the Catherine, to keep her alive through her spirit and beauty. The story of Wuthering Heights begins with the introduction of the pages from Catherine’s diary, a love story which is ready to be brought before the world as one of the most intense stories of the time with timeless passion and intensity which begins with life and carries until the grave. There are intrusions but there is always the clarity of focus on who really belongs to whom, in the inner world of heart and soul. This is so closely connected with the conditions of Emily’s life and her close bond with the novel Wuthering Heights, Catherine’s diary can be said as Emily’s diary where she is trying to reveal her inner world to the outside world, it is intimate, personal and deep. She expresses her free and independent attitude thorough Cathy, with similar rebellion and strength of character, to stand up against the injustice done towards Heathcliff. There is a very intimate relationship between the dream and the reality, which is guided through the pages of the diary. The different inscriptions of Catherine’s name are reflective of the movement of the novel from one generation to another linking the key relationships which are covered under layers of hypocrisy. â€Å"When you have processed the information you have been waiting for, you see the point of the order of the scribbled names, as Lockwood gives them: Catherine Earnshaw, Catherine Heathcliff, Catherine Linton. Read from left to right they recapitulate Catherine Earnshaw’s story; read from roght to left, the story of her daughter, Catherine Linton. The names Catherine and Earnshaw begin and end the narrative†¦ this is an account of the movement of the book: away from Earnshaw and back, like movement of the house itself. (MW,419-20) (Jacobs 1979) The sequential order of the names as they first appear on the window ledge, then in the diary and elsewhere, connects the story with past and present, interweaving in it the aspect of darkness of the nightmares and the dreams and the powerful influence of nature with the supernatural element, overshadowing the moors and the Wuthering heights. The sinister darkness of the towering Wuthering heights, can be compared to the dark impressions left on her tender mind of the loss of her mother and the sisters, the personal loss and pain have emerged as the source of darkness and the isolation, which the inhabitants of Wuthering Heights have to endure and live day after day without any clear sign of hope and light. The outside physical world is dark and gloomy; the only refuge is in the sanctuary of the heart and soul, which drives the novel from beginning to end in the service of love, regardless of social constraints. The isolation which the characters of the Wuthering Heights experience is beyond imagination. It is sheer inner strength which allows for the characters to emerge from the dreary darkness, just like Emily, whose inner strength and courage made her survive the road of solitary path in the midst of social stigma and environmental control. This isolation can be seen almost all of her characters in Wuthering Heights. This aspect can be seen as the homelessness and the anguish of isolation is experienced by Hindley when he is forced from home, after old Earnshaw’s death Heathcliff is driven away, returning some years later, on the death of Heathcliff finally Hareton has a chance to live who had live almost in destitude and isolation within the walls of Wuthering Heights. Isabella first leaves her home in The Grange for life with Heathcliff, and then is devastated by her marriage with Heathcliff escapes to anonymity with impossibility for return. Her son Linton is first uprooted to his uncle’s home and then to his fathers home. The young Catherine, daughter of Catherins Earnshaw is first taken from Thrushcross Grange as Heathcliff’s temporary prisoner and then is forced to become his daughter-in-law and his permanent prisoner. The ultimate of isolation and exile is the conscious choice made by Cathy(Catherine Earnshaw ) who creates her exile as a conscious act of imagination, just like Emily in her Gonad world: â€Å"If I were in heaven, Nelly, I would be extremely miserable. I dreamt one that I was there. Heaven did not seem to be my home; and I broke my heart with weeping to come back to earth; and the angels were so angry that they flung me out, into the middle of the heath on the top of Withering Heights; where I woke up sobbing for joy† (Jacobs 1979) The marriage to Edgar fulfils this prophecy of homelessness from which only death promises respite. Yet, Cathy’s death is again another self-imposed exile, as she refuses to get better and wants to die, this scene has amazing similarity with the manner in which Emily died. The manner, in which Emily dies in isolation, is an example which captures the synthesis of the conviction and the courage with which she lived her life. Emily was the strongest and the most sincere of the Bronte family, who had the inner strength to stand for her inner faith and conviction, unruffled by the outside world and its changing influences. â€Å"She was a strong willed person who remained true to herself and her vision, even until her very last breath. † (Jennings). She was very ill, just like the protagonist of the novel Wuthering Heights, Cathy, â€Å"she was suffering from severe lung infection, but she refused to give in to her illness and continued to live as she always had: believing her own strength would help her endure and survive and ultimately overcome the physical limitations of her life. Emily Bronte’s life and death of courage and independence is a lasting example to us all†(Jennings) Emily Bronte valued life greatly and her novel reflects her close vision about the preciousness of life and the power of the inner self (soul). She had strong conviction that no matter how violent the turmoil outside, as is reflected in many aspects of Wuthering Heights in relationships, weather and social conflict, the human soul had the power to endure and go beyond the barriers and the hardships which inflict pain and suffering as part of our experience in life. Her greatest accomplishment was writing her novel Wuthering Heights, which is the only novel she ever wrote and through which â€Å"she was able to speak her mind able to speak her own mind, make clear the power of her voice, and reveal her entire vision of humankind to the world. It has been 150 years since Wuthering Heights was first published, yet it is still a widely-read book and is studied in many schools. Emily Bronte’s story of two childhood companions who are unable to remain together once they are adults is powerful and moving. It reminds each of us, no matter who we are, that we are often left alone in the world, and that we all long to be a part of something more than ourselves, but that it is only through love of ourselves that we can truly find love with others. The story is written in one of the most unforgettable, original voices ever heard, and almost everyone who has read this novel has been deeply affected by it. Emily died at the age of thirty, only a year after Wuthering Heights was published, but she still speaks to us through her writing. † †(Jennings) â€Å"No Coward soul is mine†¦ No trembler in the world’s storm-troubled sphere†¦ I see Heaven’s glories shine†¦ And Faith shines equal arming me from Fear†¦ There is not room for Death†¦ Nor atom that his might could render void†¦ Since thou art Being and Breath†¦ and what thou art may never be destroyed†¦ â€Å"

Biography of Elie Wiesel

This book was published in France in 1958 as La Nuit (Night), translated into multiple languages, became the most famous in the history of the Holocaust, probably the most influential personal record. Elieie Wiesel's opposition to indifference was primarily due to him and his wife establishing one of the most authoritative organizations like the Elie Wiesel Humanitarian Foundation. It is wrong to go to various countries to talk about his beliefs and why it is done to human beings. Dawie by Elie Wiesel In this report, you will see a comparison of the life of the novel Dawn and its creator Elie Wiesel. If you understand the life of Elie Wiesel, these comparisons are very obvious. Elie Wiesel was born in Hungary on September 28, 1928. Wessel experienced many difficult times as a young age. In 1944, Wessel was banished from the Nazis and brought to concentration camps. His family was taken to the town of Auschwitz. Wiesel's father, mother, and older sister died at night by Elie Wiesel Ni ght is a memoir written by Elie Wiesel, a Jewish boy who talked about his experience during the Holocaust. His favorite activity is to learn the Talmud and spend time with his spiritual tutor Moshe the Beadle at the temple. When I was very young, Erie was simple and confident for God. But this belief will be tried when the Nazis took him from his town. That night started in 1941. At that time, Erie was 12 years old. growing up The book Night by Elie Wiesel is a reminiscence of the Holocaust about the author's experience during the Holocaust. Elie Wiesel was born in Sighet in Transylvania in 1928. A book named Night is said by a boy named Eliezer. Eliezer is the representative of the author. Elie Wiesel said that the story is not about his experience, but most of the events in the novel are based on the life of Elie Wiesel. Elie and Eliezer's experience has subtle differences. This novel starts with Zeek in Transylvania. The night of Elie Wiesel is an iconic book whose headline repre sents the pain, pain, and most important death witnessed by childhood experience in the concentration camp in Elie Wiesel. Elie Wiesel, born in Shige in Transylvania, is from the Jews and is very interested in traditional Jewish religious studies. The Wiesel family (related to his three sisters, mother and father) was eradicated at Siguet's house and brought to Auschwitz as part of the massacre. Eli separated from his mother and three sisters at the Auschwitz concentration camp, surviving in Auschwitz, Buna, Buchenwald, Gleevitz.

Robert Walpole's political style stabilized Great Britain in the 18th Essay

Robert Walpole's political style stabilized Great Britain in the 18th Century - Essay Example Walpole started his political career in the year 1701, winning the General Election from Castle Rising. Soon he left Castle Rising and moved to the crucial borough of King’s Lynn, where he enjoyed victory consecutively for forty years. Robert Walpole was an enthusiastic member of Whig Party (which was stronger than the opposing Tory Party, then). Walpole became a part of Council of Lord High Admiral in 1705, the Council which took care of the Naval matters. He had excellent administrative skills and was promoted as the Secretary at War (1708) by Lord Godolphin. He managed the post of Navy Treasurer also. These experiences helped him to become an advisor of Duke of Marlborough. Robert Walpole very soon became an important member in the Cabinet. In spite of having such an influence, he could not prevent Lord Godolphin and the Whigs from forcing the prosecution of Henry Sacheverell, who popularized anti-Whig ideas. This attempt was very unpopular and resulted in the fall of Whig Party and Duke of Marlborough in the 1710 Election. The new rule under Tory Robert Harley no longer allowed Walpole to be the Secretary at War, but permitted him to continue as the Treasurer of Navy. Harley’s attempt to influence Walpole to make him join the Tories did not succeed. Walpole denied the offer and played an important role in Whig Opposition as its most outspoken member. He spoke for Lord Godolphin in Parliamentary debates as well as in press, defending him from Troy attacks. Tories were not happy with him and wanted to discredit both him and the Duke of Marlborough. They came up with a wrong allegation that he had done corruption during his tenure as Secretary at War. The origin of this blame was nothing but political hatred. He had to undergo impeachment in the House of Commons, and the House of the Lords also charged him. He had to suffer six months imprisonment (in the Tower of London) and was banished from the Parliament. But the

Analysis Article Example | Topics and Well Written Essays - 750 words - 1

Analysis - Article Example Physicians opted to use early screening in identifying yellow flags and develop intervention guidelines as well as achieve secondary preclusion. Although various psychological factors have been found to be support prognosis of yellow flags, questions still linger as to which strategies work best either individually or in combination and to what extent yellow flags influence outcomes in patients with acute pain. Although previous research indicate that targeting yellow flags especially when they are high significantly affect the obtainment of positive results than providing ominous interventions. The authors conduct this research with the aim of unraveling the mystery surrounding the yellow flags and formulate concrete and solid conclusion that will enhance the operations in the health care industry and embolden management of yellow flags and back pain (Gray et al., 2011). Apparently, various psychosocial factors including personal and work allied factors play a significant role in delaying return to work and continuation of symptoms in people with back pain. Commonly, people complain of excruciating back pain that makes them wince with the discomposure but apparently, they can engage in many activities that can ostensibly be considered light. When handling such persons, physicians wonder as to whether the pain is musculoskeletal or has merely been caused by psychological factors. As part of back pain management, it is, therefore, imperative that physiotherapists have the enthusiasm and abilities to evaluate and manage psychosocial issues. The authors’ main intentions were to methodically assess and encapsulate literature on the skills and perceptions that physiotherapists have when gauging and treating Yellow and Blue Flags in patients who experience back pain that often causes them discomfiture. The authors candidly concentrate on the narrowed

Constitutional Law Research Paper (Mock Case Study aka Memorandum of

Constitutional Law Research Paper (Mock aka Memorandum of the Law) - Case Study Example The detectives arrested Sam for violating parole and for possession of child pornography. The warrant was issued on application of affidavit by Detective Tom Murray, who used false information that Sam was not living he had agreed to his release on parole. Tom had lied that the residence was vacant and that Sam had violated parole, although he knew that Sam was living in the same apartment as he had declared during his release. The detectives who made the arrested were not aware that Tom Murray had gotten the arrest warrant after presenting false information on Sam in his affidavit. The investigators seized evidence on child pornography as there were hundreds of child pornography images in Sams bedroom, and there was some evidence that Sam was communicating with children over the internet. However, the issuance of the execution of the search was valid under the Fourth Amendment of criminal justice. Following the exception that the search was in good faith, and the search was reasonab le enough to warrant a recovery of sufficient evidence against Sam Mark criminal behavior. From the exception named above, the detectives had the right to go access Sams residence to confirm that Sam was not indeed living in the declared home (Beatson, 2006). The search led to the discovery of the evidence that incriminated him as a child sex predator. The agents took the time to go through the Sams computer as well in search of more evidence against Sam. Sam is not guilty of violating parole under the evidence provided by Tom in the affidavit, but is according to the evidence gathered as a result of the warrant that Tom acquired. The search warrant was reasonable and in good faith. Tom applied for the search warrant under a suspicion that Sam was involved in child abuse in his house as is demonstrated below. Rule 41 (a) of 18 United States Constitution states that search warrants shall only be issued ‘upon the request of a federal law enforcement

Policy and procedure Development Essay Example | Topics and Well Written Essays - 500 words - 1

Policy and procedure Development - Essay Example The following policy and procedure provides a guide for the management of fatigue for cancer patients. Relaxing body massage is a proven non-pharmacological fatigue management therapy for cancer patients undergoing chemotherapy treatment. Cancer patients develop fatigue due to the inadequate number of red blood cells to circulate oxygen to body muscles. Accumulation of carbon dioxide in the body cells result in chronic body fatigue for cancer patients (Ahlberg, 2003). The drugs administration lack the complete relaxation effect for most cancer patients. Current studies have downplayed the use of drugs to control chemotherapy fatigue. More ever, traditional relaxation methods such as resting and escaping are time-consuming. Massage is cost-effective and time-saving. While other relief methods such as drugs may have cost implications, massage is cheap and has long-standing effects. Studies conducted at the University of Miami suggests that massage helps reduce fatigue. Smooth, soft caresses over the affected area trigger the mind to produce Dopamine, a chemical that induces a feeling of well-being. The research also indicated that massage causes an increase in the white blood cells that boost immunity. The cancer foundation called them the natural killer cells and appeared on the first and last days of the massage. Massages offer a significant fatigue reduction to cancer patients undergoing chemotherapy as compared to drugs. Specialized massage combined with other non-pharmacological practices such as physical exercise have proved effective in the control of body fatigue. Long usage of drugs to stimulate the body overworks the body cells and is detrimental more so to patients at the chronic cancer stages. Specialized cancer nurses and trained masseuse help determine the patient’s knowledge on non-pharmacological fatigue management. The cancer patient’s rights and family diversity will be

Youth Work in Schools Research Methodology Essay

Youth Work in Schools Research Methodology - Essay Example al, 2008, 63). Much more specifically, however, the authors attempt to better understand how and to what degree youth work can affect learning outcomes of margenalized and disengaged students, including the so-called â€Å"quietly disengaged† that may not frequently the central topic of educational research (Morgan et. al, 2008, 2), because of the lack of their obvious need when compared to other similarly marginalized students. In particular, this work attempts to dissect many of the ‘soft’ educational outcomes that may be improved or affected by youth work, such as â€Å"raising self-esteem, increasing young people’s confidence, building relationships, challenging values and beliefs etc† (Morgan et. al, 2008, 46). These outcomes, though obviously incredibly important for the healthy development of young people in any educational environment, can be a difficult target to track or put political will into because of the lack of measureable objectives. This research attempts to uncover the degree to which youth work can be effective in achieving these soft outcomes, while simultaneously understanding how youth work, an informal educational tool, can be integrated into the formal educational environment of schools. ... Furthermore, qualitative analysis gives the researchers the ability to use the findings of educational professionals in their own words, which obviously helps generate increased validity and a more thorough understanding of the subtleties and complexities involved in the research (Cohen, et. al., 2000, 31). The researchers used a soft form of coding, whereby they would group similar types of responses together and attempt to give their reader a good idea of majority or frequently cited opinions, often to be immediately followed by a few specifics either paraphrased or given in full quotation. When describing the first question of interviews, for instance, the researchers said that â€Å"while the youth workers launched into a straightforward response by outlining their work the schools perceived ‘informal’ education in quite a different light while those from Youthreach understood it in the context of a programme that was, in the first instance, divorced from schoolâ₠¬  – giving a characterization of frequent responses, followed by analysis, and finally specific examples which are not quoted here (Morgan et. al., 2008, 70). Obviously one significant issue with this type of qualitative analysis is that it grants the researcher incredible amounts of leeway in characterizing results, and deciding where to put emphasis: this can be either beneficial, focusing on small ideas of great importance, or detrimental, such as possibly ignoring or under-representing important trends or frequent responses. This research piece used a wide variety of different qualitative research methods: â€Å"In-depth interviews with key informants from youth work, schools and Youthreach; A worksheet/questionnaire for young people with experience of informal practices in formal settings; Focus

Characteristics of a Problem Essay Example | Topics and Well Written Essays - 500 words

Characteristics of a Problem - Essay Example Problems are always complex dealing with the interrelation of variables and not solely focused on one entity. And lastly, problems deals with time consideration as there is a certain time frame which they should be solved before they get worse. In our workplace, there has been a problem of motivation in the sales department. This problem presented itself in unmet sales quotas and the prevalent absenteeism among account executives. Inefficient motivation strategies were firs unclear as the sales manager was unaware of what is really happening with his sales team. Secondly, she knew that there is a certain goal which should be met—high profitability—yet was unsure whether to change compensation scheme in order to provide higher benefits to employees. This option might have motivated the sales team but will cause ballooning of costs. This shows the complexity which underlies the problem. Lastly, as the level of sales was monitored monthly, there is a pressure for the manager to act immediately to solve the situation. 2. How should a problem be investigated and identified? What are five steps to be considered while framing a problem? Provide us a problem which you could apply this process to. Be specific. (200 words) There are five steps which should be considered in solving problems: identify the problem; evaluate alternatives; select alternatives; implement the solution; and evaluate the results. This systematic way of framing a problem is commonly considered whether in business organizations, home or school. An application of this approach can be seen in a company which is contemplating in bringing its product into the global market instead of just selling them in the local market. Suppose that the problem is where to take the product considering the slowdown in stable economies like US and Europe. The company then evaluates available alternatives by looking at market

Managing across culture, international business Essay

Managing across culture, international business - Essay Example Given such a role, I would get to learn the different employees, their cultural background and their culture, for example, learn about their holy days. This is essential as societal cultures influences how employees understand the terms of the employment relationship i.e. what they expect from the employer, and what they think they owe them. Secondly, with reliance on such information, I would design effective communication and reward systems that will address the expectation from these different groups. This should help to retain key employees and increase loyalty, commitment and performance. I would develop mechanisms strategies and programs focused on cross functional team projects and mentoring programs. Such encourages interaction, build trust, and promote shared identity amongst employees, which would help employees understand each other’s culture in an informal setup. This effort should help to arrest cultural intolerance and shock in the business set up among the employees from different cultures. To add, I would lead by the example, promoting cultural tolerance, emphasizing the importance of diversity, adopting policies and procedures that support diversity, anti-discrimination, anti-harassment, holding staff and any other person accountable for any intolerance and providing training an awareness in the work

Strong relationships Essay Example for Free

Strong relationships Essay Dreams can be described as reflections, unconscious wishes, and a by-product of mental house keeping or interpreted as a brain activity. Guiley (1998) says, â€Å"Dreams are the inner powers that project out creativity which has changed lives†. All these descriptions may be true or false depending on which type of the dream that has occurred during the night. In is interesting that a greater percentage of dreams occur at night. Then the question is why do many dreams occur at night? Noticeably, this it the time of resting and every body part or organ rest or relax. This means organs like the heart, lungs and the brain do not rest but they relax. Therefore, this time of the day, that is during rest some crucial brain activity goes on and in many occasions it is a reflection of what might have happened during the day. There are many types of dreams, some of them turn out to be nightmares where some people may walk at night, others scream and few have lucid dreams for instance some people dream of playing football and they throw legs at night as if they are kicking the ball they had watched or they had played during the day whereby some end up kicking anything near them only to be awakened and find they are not injured. Other dreams may be about relationships especially among lovers. Parker (1999) says, â€Å"There is believe that the mind consists of three things that is the ego, the super ego and the id. The unconscious side that is the id consists of instinctive drives called pleasure principle† et al Freud (2001) agrees, â€Å"that most desires expressed in dreams are sexual†. This is may be the reason why people experience sexual arousal and wet dreams. There are strong relationships between physiological theories and psychological theories. It has been concluded by the scientists that many dreams occur during the Rapid Eye Movement (REM). Every person dreams, right from the toddlers or infants to the aged but dreams differ. This means a teenager’s dreams may not be same as of the elderly dreams. Averagely everybody dreams every night but the intensity of the dreams differ depending on the reflective stance of the brain at that time. Time is also a factor for dreams, some dreams are short and others are long winded depending on the time taken in dreaming. Parker (1999) observes that, â€Å"a dream takes roughly 30- 45 minutes and those awakened during the REM are able to remember or recall their dream at that moment†. Some dreams are so vivid that they can be revealed immediately a person wakes up. Many of the dreams are forgotten before or immediately a person wakes up. Them memory plays an integral role on dream remembrance as Christos (2003) concurs, â€Å"Neural network models suggest that memories are constantly competing with each other, they change with time and some memories are easily displaced† Dreams are extremely important in many ways, for instance, prophets during the ancient times were able to discern events to come and or befall people or a community through dreams. Lukeman (2001) says that, â€Å"in some dreams, we tap into prophecy and other kinds of information that cannot be known in the ordinary sense. † Parker (1999) agrees that, â€Å"whether old superstitions can help you see the future is questionable but a great deal of empirical evidence suggest that dreams can be prophetic. The most interesting dreams of the future can come through a phenomenon called lucid dreams. † A good number of musicians confess that their greatest musical hits appeared in dreams at night. One day I dreamt on how to manufacture a pistol and if I had the time I could have drawn the sketch just the way I saw it in the dream but unfortunately three day passed and I forgot the whole sketch. The dream came about after one of the family members had regularly thwarted my good plans to go overseas for further studies. So, I was extremely annoyed and I could think of any way to eliminate him. Luckily I did not do it and today the family member is a good neighbor. This dream falls under the psychological theory. I had suffered psychological torture after losing a golden chance to go overseas for further studies. Therefore good things produce good dreams while bad and stressful things cause bad or evil dreams. Conclusion Dreams are essential for psychological and physiological aspects of life. Lukeman (2001) says, â€Å"Dreams are crucial to every day health and well being. Studies have shown that bizarre things start to happen when people are prevented from dreaming. Things like confusion, exhaustion and physical illnesses start to manifest. † References: Christos, G. (2003). Memory and Dreams: The Creative Human Mind. New York: University of New South Wales. Freud, S. (2001). On dreams. New York: Dover Publications. Parker, C. H. (1999). The Hidden Meaning of Dreams. Carlsbad: Sterling Publishers Guiley, R. H. (1998). Dreamwork for the Soul. Boston: New York: Berkely Trade Publishers. Lukeman, A. (2001). What Your Dreams Can Teach You. New York: M. Evans and Company Inc.

How far was Platos Essay Example for Free

How far was Platos Essay With this end in mind, it seems that he can set about the task by whichever means he likes, so long as it will achieve the end. By telling the creation myth, it is his intention to promote the tripartite theory of society, which will, in turn, promote the ideal balance and justice. For justice to be maintained among the people, the Philosopher kings must hold absolute power. Justice is only possible when each class of the society stays in its own place and does that which is its duty. The Philosopher Kings are the rational element, and, according to Plato, the golden part of society. The silver auxiliaries provide the spirited element, and the workers are the base metal, the appetite element. If appetite should begin to rule over reason, then the body is out of balance, and so cannot function correctly. The same is true of society. If the Philosopher Kings were to be ruled over by the workers in society, balance would no longer be maintained. However, even in the reverse direction, should the Philosopher kings try their hand at farming, they are unlikely to have the specialised knowledge to do so, and so society again cannot function correctly. After all, the city cannot have wisdom and judgement because of the knowledge of its carpenters21, as this would simply make it good at carpentry22. The quality of good judgement is clearly a form of knowledge, as it is because of knowledge and not because of ignorance that we judge well. 23. The society must necessarily, then, be hierarchical, where those who know, rule. They are masters of all the others, and perhaps with an eye on Protagoras, Plato says Master of oneself is an absurd phrase. For if youre master of yourself youre presumably also subject to yourself, and so both master and subject24. The rhetorician places the just society in jeopardy. They are capable of influencing the people and so upsetting the balance between the classes of society and between the elements of the soul. They would be capable of over-egging the spirit of the auxiliaries to such an extent that they might overthrow the guardians, or behave in a way which is reckless rather than brave and jeopardise the protection of the state. As he says, we are left with two qualities to look for in our state Self discipline, and the real object of our whole enquiry, justice25. The base metal, or appetite, could be influenced to feed itself to too great an extent, and so cause the state to cease to flourish. Just as in the context of the human body, appetite must be encouraged to sustain balance and life, but if it is over-excited it causes greed and disharmony. Emotion and appetite must remain in the correct balance to allow normally functioning life. Reason must have ultimate control over the system. Therefore, by analogy, Philosopher kings should have power over the people. On the face of it, the picture emerging is a chilling one, similar to the situation in George Orwells 1984. Whilst it may at first seem that it is this sort of world towards which Plato is leading, the Philosopher Kings have access to the world of forms, and most importantly, the form of the good. For Plato, knowing the Good is both a necessary and sufficient condition for doing the Good, and therefore, once the philosopher kings know the good, they will always do the good. If the Philosopher Kings do only what is good for the sake of the state, then Platos creation myth is, in his terms, justified, as the people are being led towards the truth, and to justice. The Philosopher Kings are incorruptible, and as such will only guide the people towards that which is good for them. Having earlier described rhetoric as used by the sophists as flattery26, Plato now presents it as boldness and irresponsibility. 27. Plato believes that it is the popular applause which destroys any good in such people and deceives them into thinking that they really are statesmen28. He knows that, as it stands, they are so sunken into their own rhetoric and lies that they can be easily swayed, in the way that a Philosopher King cannot. The rhetoricians must pander to public opinion to remain powerful. Rhetoric is a dangerous weapon in the hands of people never trained in its use, who are those who do not know the best interests of the state. The implication is that the Philosopher kings, on the other hand, could know how to use rhetoric to the advantage of the community, and so have more than a mind which is good at guessing, some courage, and a natural talent for interacting with people29. As the rhetoricians do not know reality, they are dangerous to the state, and belong to the group in the simile who see only the shadows on the cave wall, and do not see by the light of the sun. However, we are aware that Platos utopia is based on an aristocratic and elitist view. Indeed, Karl Popper, in his Open society and its Enemies holds that, should Platos Republic ever become a reality rather than merely a philosophical exercise, Plato himself, or just such a person, would be the only one with the knowledge, and therefore, the only philosopher king. The people, the silver and most especially the base metal, have no power in this society. In our modern society, we are shocked by dictatorship, associating it with fascism and Communism. In the context of Poppers own experience of twentieth century Europe, his dislike of Platos apparent aspiration is understandable. We cherish what we see as our right to choose between what the politicians have to say. However, if Plato is right, this does not make sense. After all, we would not choose a surgeon simply by virtue of the strength of his rhetoric. If we would not entrust our lives to a doctor on these grounds then we should not entrust our lives to a politician for the same reasons. However, the two would not be comparable if both were not knowable. In his simile of the sea captain, Plato would have us believe that the good for man is just as knowable as the skill of navigation. If we accept that the good is indeed as knowable as navigation, then we are unable to contest Platos ideas. However, I am more convinced by his pupils view. Aristotle states that the science that studies the supreme good for man is politics30 and yet politics is not an exact science31. This is clearly antithetical to Platos form of the good, and in book I, vi, Aristotle says that things are called good in as many senses as they are said to exist Clearly, then, there cannot be a singe universal common to all these cases, because it would be predicated not in all the categories, but in one only32. This appears to confirm my initial response to Platos theory of forms, which does not seem to stand up to scrutiny in the real world, as apart from the evidence given in The Republic 508e, and the images of the sun, and apart from this, which is on no way substantive enough, there is no evidence for the existence of the form of the good. Gorgias argues that the rhetoric can be used like any competitive skill When morally appropriate33. Plato, however maintains that this would lead the general public to believe that he is an expert on morality when he isnt and think hes a moral person when he isnt34. This is odd, as in the Republic, he appears to support the argument made by Gorgias, yet, in the Gorgias, he presents rhetoric as wholly dangerous, and the rhetoricians as dangerous weapons out of control. The Utopia which Plato has created is presented to us largely in terms of metaphors and similes. Some of these are sufficiently outrageous, such as his creation story, that he even apologises. However, Plato, with the subtlety of a true rhetorician, seems to make his similes so close to reality as to make us accept the truth of what he is saying. Many of those in The Republic include references to everyday things such as farming and sailing. In Gorgias, he speaks of cooks and doctors. We are easily led into accepting his ideas through the everyday nature of these discussions. Then suddenly we find that the sun outside the cave is not merely a part of a simile, but is actually being used to describe the source of all reality and truth. There is no doubt as to the existence of the sun in our world, and we are aware that Plato has led us, by clever rhetorical devices, into accepting his similes as reality. However, the evidence that he presents us with is in no way substantive enough to prove the existence of his world of forms, and so we must wonder whether his rhetoric is merely a means to gaining his political ends. If this is the case, then he is going against his professed views of rhetoric, which would indeed be inconstant. However, the only other alternative would be that he truly did wish us to conform to his ideals. Whichever was the case, it seems likely that, ironically, Plato was the greatest rhetorician we have yet experienced. Bibliography Primary Source Aristotle, The Nicomachean Ethics trans. J. A. K. Thomson, Penguin Classics (1976) Plato, Gorgias Worlds Classics (1994) Plato, The Republic Penguin Classics (1987) Popper, Karl, The Open Society and its Enemies: The Spell of Plato Routledge and Kegan Paul (1962) Thucydides, The Peloponnesian War trans. Richard Crawley, Encyclopaedia Britannica: The Great Books (1952) Secondary Source Encyclopaedia Britannica Rhetoric Encyclopaedia Britannica Rhetoric: Importance in Ancient Greek Education www. wikipedia. org: Plato www. wikipedia. org: Rhetoric 1 The Republic, 492b 2 Thucydides, The Peloponnesian war boo.

Measuring weak-form market efficiency

Measuring weak-form market efficiency Measuring Weak-form Market Efficiency ABSTRACT This paper tests weak-form efficiency in the U.S. market. Both daily and monthly returns are employed for autocorrelation analysis, variance ratio tests and delay tests. Three conclusions are reached. Firstly, security returns are predictable to some extent. While individual stock returns are weakly negatively correlated and difficult to predict, market-wide indices with outstanding recent performance show a positive autocorrelation and offer more predictable profit opportunities. Secondly, monthly returns follow random walk better than daily returns and are thus more weak-form efficient. Finally, weak-form inefficiency is not necessarily bad. Investors should be rewarded a certain degree of predictability for bearing risks. Efficient market hypothesis (EMH), also known as information efficiency, refers to the extent to which stock prices incorporate all available information. The notion is important in helping investors to understand security behaviour so as to make wise investment decisions. According to Fama (1970), there are three versions of market efficiency: the weak, semistrong, and strong form. They differ with respect to the information that is incorporated in the stock prices. The weak form efficiency assumes that stock prices already incorporate all past trading information. Therefore, technical analysis on past stock prices will not be helpful in gaining abnormal returns. The semistrong form efficiency extends the information set to all publicly available information including not only past trading information but also fundamental data on firm prospects. Therefore, neither technical analysis nor fundamental analysis will be able to produce abnormal returns. Strong form efficiency differs fro m the above two in stating that stock prices not only reflect publicly available information but also private inside information. However, this form of market efficiency is always rejected by empirical evidence. If weak-form efficiency holds true, the information contained in past stock price will be completely and instantly reflected in the current price. Under such condition, no pattern can be observed in stock prices. In other words, stock prices tend to follow a random walk model. Therefore, the test of weak-form market efficiency is actually a test of random walk but not vice versa. The more efficient the market is, the more random are the stock prices, and efforts by fund managers to exploit past price history will not be profitable since future prices are completely unpredictable. Therefore, measuring weak-form efficiency is crucial not only in academic research but also in practice because it affects trading strategies. This paper primarily tests the weak-form efficiency for three stocks-Faro Technologies Inc. (FARO), FEI Company (FEIC) and Fidelity Southern Corporation (LION) and two decile indices-the NYSE/AMEX/NASDAQ Index capitalisation based Deciles 1 and 10 (NAN D1 and NAN D10). Both daily and monthly data are employed here to detect any violation of the random walk hypothesis. The remainder of the paper is structured in the following way. Section I provides a brief introduction of the three firms and two decile indices. Section II describes the data and discusses the methodology used. Section III presents descriptive statistics. Section IV is the result based on empirical analysis. Finally, section V concludes the paper. I. The Companies[1] A. Faro Technologies Inc (FARO) FARO Technologies is an instrument company whose principle activities include design and develop portable 3-D electronic systems for industrial applications in the manufacturing system. The companys principal products include the Faro Arm, Faro Scan Arm and Faro Gage articulated measuring devices. It mainly operates in the United States and Europe. B. FEI Company (FEI) FEI is a leading scientific instruments company which develops and manufactures diversified semiconductor equipments including electron microscopes and beam systems. It operates in four segments: NanoElectronics, NanoResearch and Industry, NanoBiology and Service and Components. With a 60-year history, it now has approximately 1800 employees and sells products to more than 50 countries around the world. C. Fidelity Southern Corp. (LION) Fidelity Southern Corp. is one of the largest community banks in metro Atlanta which provides a wide range of financial services including commercial and mortgage services to both corporate and personal customers. It also provides international trade services, trust services, credit card loans, and merchant services. The company provides financial products and services for business and retail customers primarily through branches and via internet. D. NYSE/AMEX/NASDAQ Index It is an index taken from the Center for Research in Security Prices (CRSP) which includes all common stocks listed on the NYSE, Amex, and NASDAQ National Market. The index is constructed by ranking all NYSE companies according to their market capitalization in the first place. They are then divided into 10 decile portfolios. Amex and NASDAQ stocks are then placed into the deciles based on NYSE breakpoints. The smallest and the largest firms based on market capitalization are placed into Decile 1 and Decile 10, respectively. II. Data and Methodology A. Data Data for the three stocks and two decile indices in our study are all obtained from the Center for Research in Securities Prices database (CRSP) on both daily and monthly basis from January 2000 to December 2005. Returns are then computed on both basis, generating a total of 1507 daily observations and 71 monthly observations. The NYSE/AMEX/NASDAQ Index is CRSP Capitalisation-based so that Decile 1 and 10 represent the smallest and largest firms, respectively, based on market capitalisation. In addition, The Standard and Poors 500 Index (SP 500) is used as a proxy for the market index. It is a valued-weighted index which incorporates the largest 500 stocks in US market. For comparison purposes, both continuously compounded (log) returns and simple returns are reported, although the analysis is based on the result of the first one. B. Methods B.1. Autocorrelation Tests One of the most intuitive and simple tests of random walk is to test for serial dependence, i.e. autocorrelation. The autocorrelation is a time-series phenomenon, which implies the serial correlation between certain lagged values in a time series. The first-order autocorrelation, for instance, indicates to what extent neighboring observations are correlated. The autocorrelation test is always used to test RW3, which is a less restrictive version of random walk model, allowing the existence of dependent but uncorrelated increments in return data. The formula of autocorrelation at lag k is given by: (1) where is the autocorrelation at lag ; is the log-return on stock at time; and is the log-return on stock at time. A greater than zero indicates a positive serial correlation whereas a less than zero indicates a negative serial correlation. Both positive and negative autocorrelation represent departures from the random walk model. If is significantly different from zero, the null hypothesis of a random walk is rejected. The autocorrelation coefficients up to 5 lags for daily data and 3 lags for monthly data are reported in our test. Results of the Ljung-Box test for all lags up to the above mentioned for both daily and monthly data are also reported. The Ljung-Box test is a more powerful test by summing the squared autocorrelations. It provides evidence for whether departure for zero autocorrelation is observed at all lags up to certain lags in either direction. The Q-statistic up to a certain lag m is given by: (2) B.2. Variance Ratio Tests We follow Lo and MacKinlays (1988) single variance ratio (VR) test in our study. The test is based on a very important assumption of random walk that variance of increments is a linear function of the time interval. In other words, if the random walk holds, the variance of the qth differed value should be equal to q times the variance of the first differed value. For example, the variance of a two-period return should be equal to twice the variance of the one-period return. According to its definition, the formula of variance ratio is denoted by: (3) where q is any positive integer. Under the null hypothesis of a random walk, VR(q) should be equal to one at all lags. If VR(q) is greater than one, there is positive serial correlation which indicates a persistence in prices, corresponding to the momentum effect. If VR(q) is less than one, there is negative serial correlation which indicates a reversal in prices, corresponding to the mean-reverting process. Note that the above two test are also tests of how stock prices react to publicly available information in the past. If market efficiency holds true, information from past prices should be immediately and fully reflected in the current stock price. Therefore, future stock price change conditioned on past prices should be equal to zero. B.3. Griffin-Kelly-Nardari DELAY Tests As defined by Griffin, Kelly and Nardari (2007), delay is a measure of sensitivity of current returns to past market-wide information.[2] Speaking differently, delay measures how quickly stock returns can react to market returns. The logic behind this is that a stock which is slow to incorporate market information is less efficient than a stock which responds quickly to market movements. SP 500 index is employed in delay test to examine the sensitivity of stock returns to market information. For each stock and decile index, both restricted and unrestricted models are estimated from January 2000 to December 2005. The unrestricted model is given by: (4) where is the log-return on stock i at time t; is the market log-return (return for SP 500 index) at time t; is the lagged market return; is the coefficient on the lagged market return; and is the lag which is 1, 2, 3, 4 for the daily data and 1, 2, 3 for the monthly data. The restricted model is as follows which sets all to be zero: (5) Delay is then calculated based on adjusted R-squares from above regressions as follows: (6) An alternative scaled measure of delay is given by: (7) Both measures are reported in a way that the larger the calculated delay value, the more return variation is explained by lagged market returns and thus the more delayed response to the market information. III. Descriptive Statistics A. Daily frequencies Table I shows the summary statistic of daily returns for the three stocks and two decile indices. The highest mean return is for FARO (0.0012), whereas the lowest mean return is for NAN D10 (0.0000). In terms of median return, NAN D1 (0.0015) outperforms all the other stocks. Both the highest maximum return and the lowest minimum return (0.2998 and -0.2184, respectively) are for FARO, corresponding to its highest standard deviation (0.0485) among all, indicating that FARO is the most volatile in returns. On the other hand, both the lowest maximum return and highest minimum return (0.0543 and -0.0675, respectively) are for NAN D10. However NAN D10 is only the second least volatile, while the lowest standard deviation is for NAN D1 (0.0108). Figure 1 and 2 presents the price level of the most and least volatile index (stock). All the above observations remain true if we change from log-return basis to a simple return basis. In terms of the degree of asymmetry of the return distributions, all stocks and indices are positively skewed, with the only exception of NAN D1. The positive skewness implies that more extreme values are in the right tail of the distribution, i.e. stocks are more likely to have times when performance is extremely good. On the other hand, NAN D1 is slightly negatively skewed, which means that returns are more likely to be lower that what is expected by normal distribution. In measuring the peakedness of return distributions, positive excess kurtosis is observed in all stocks and indices, also known as a leptokurtic distribution, which means that returns either cluster around the mean or disperse in the two ends of the distribution. All the above observations can be used to conclusively reject the null hypothesis that daily returns are normally distributed. What more, results from Jarque-Bera test provide supportive evidence for rejection of the normality hypothesis at all significant levels for all stocks and indices. B. Monthly frequencies Descriptive statistics of monthly returns are likewise presented in Table II. Most of the above conclusions reached for daily returns are also valid in the context of monthly returns. In other words, what is the highest (lowest) value for daily returns is also the highest (lowest) for monthly returns in most cases. The only exceptions are for the highest value in median returns and the lowest value and standard deviation in minimum returns. In this situation, NAN D10 (0.0460) and FARO (0.1944) have the least and most dispersion according to their standard deviations, compared with NAN D1 and FARO in daily case. From above observation, we can see that decile indices are more stable than individual stocks in terms of returns. Whats more, monthly returns have larger magnitude in most values than daily returns. Coming to the measurement of asymmetry and peakedness of return distributions, only NAN D10 (-0.4531) is negatively skewed. However, the degree of skewness is not far from 0. Other stocks and index are all positively skewed with both FEIC (0.0395) and LION (0.0320) having a skewness value very close to 0. Almost all stocks and index have a degree of kurtosis similar to that of normal distribution, except that NAN D1 (8.6623) is highly peaked. This is also consistent with the results of JB p-values, based on which we conclude that FEIC, LION and NAN D10 are approximately normal because we fail to reject the hypothesis that they are normally distributed at 5% or higher levels (see Figure 3 and 4 for reference). However when simple return basis is used, FEIC is no longer normally distributed even at the 1% significant level. Except this, using simple return produces similar results. IV. Results A. Autocorrelation Tests A.1. Tests for Log-Returns The results of autocorrelation tests for up to 5 lags of daily log-returns and up to 3 lags of monthly log-returns for three stocks and two decile indices from January 2000 to December 2005 are summarised in Table III. Both the autocorrelation (AC) and partial autocorrelation (PAC) are examined in our tests. As is shown in Panel A, all 5 lags of FARO, FEIC and NAN D10 for both AC and PAC are insignificant at 5% level, except for the fourth-order PAC coefficient of FARO (-0.052), which is slightly negatively significant. On the contrary, NAN D1 has significant positive AC and PAC at almost all lags except in the fourth order, its PAC (0.050) is barely within the 5% significance level. The significant AC and PAC coefficients reject the null hypothesis of no serial correlation in NAN D1, thereby rejecting the weak-form efficiency. In terms of LION, significant negative autocorrelation coefficients are only observed in the first two orders and its higher-order coefficients are not statistically significant. Besides that, we find that all the stocks and indices have negative autocorrelation coefficients at most of their lags, with the only exception of NAN D1, whose coefficients are all positive. The strictly positive AC and PAC indicates persistence in returns, i.e. a momentum effect for NAN D1, which means that good or bad performances in the past tend to continue over time. We also present the Ljung-Box (L-B) test statistic in order to see whether autocorrelation coefficients up to a specific lag are jointly significant. Since RW1 implies all autocorrelations are zero, the L-B test is more powerful because it tests the joint hypothesis. As is shown in the table, both LION and NAN D1 have significant Q values in all lags at all levels, while none of FARO, FEIC and NAN D10 has significant Q values. Based on above daily observations, we may conclude that the null hypothesis of no serial correlation is rejected at all levels for LION and NAN D1, but the null hypothesis cannot be rejected at either 5% level or 10% level for FARO, FEIC and NAN D10. This means that both LION and NAN D1 are weak-form inefficient. By looking at their past performance, we find that while NAN D1 outperformed the market in sample period, LION performed badly in the same period. Therefore, it seems that stocks or indices with best and worst recent performance have stronger autocorrelation. In particular, LION shows a positive autocorrelation in returns, suggesting that market-wide indices with outstanding recent performance have momentum in returns over short periods, which offer predictable opportunities to investors. When monthly returns are employed, no single stock or index has significant AC or PAC in any lag reported at 5% level. It is in contrast with daily returns, which means that monthly returns follow a random walk better than daily returns. More powerful L-B test confirms our conclusion by showing that Q statistics for all stocks and indices are statistically insignificant at either 5% or 10% level. Therefore, the L-B null hypothesis can be conclusively rejected for all stocks and indices up to 3 lags. When compared with daily returns, monthly returns seem to follow random walk better and are thus more weak-form efficient. A.2. Tests for Squared Log-Returns Even when returns are not correlated, their volatility may be correlated. Therefore, it is necessary for us to expand the study from returns to variances of returns. Squared log-returns and absolute value of log-returns are measures of variances and are thus useful in studying the serial dependence of return volatility. The results of autocorrelation analysis for daily squared log-returns for all three stocks and two decile indices are likewise reported in Table IV. In contrast to the results for log-returns, coefficients for FEIC, LION, NAN D1 and NAN D10 are significantly different from zero, except for the forth-order PAC coefficient (0.025) for FEIC, the fifth-order PAC coefficient for LION (-0.047) and third- and forth-order PAC coefficient for NAN D1 (-0.020 and -0.014, respectively). FARO has significant positive AC and PAC at the first lag and a significant AC at the third lag. The L-B test provides stronger evidence against the null hypothesis that sum of the squared autocorrelations up to 5 lags is zero for all stocks and indices at all significant levels, based on which we confirm our result that squared log-returns do not follow a random walk. Another contrasting result with that of log-returns is that almost all the autocorrelation coefficients are positive, indicating a stronger positive serial dependence in squared log-returns. In terms of monthly data, only FEIC and NAN D10 have significant positive third-order AC and PAC estimates. Other stocks and indices have coefficients not significantly different from zero. The result is supported by Ljung-Box test statistics showing that Q values are only statistically significant in the third lag for both FEIC and NAN D10. This is consistent with the result reached for log-returns above, which says that monthly returns appear to be more random than daily returns. A.3. Tests for the Absolute Values of Log-Returns Table V provides autocorrelation results for the absolute value of log-returns in similar manner. However, as will be discussed below, the results are even more contrasting than that in Table IV. In Panel A, all the stocks and indices have significant positive serial correlation while insignificant PAC estimates are only displayed in lag 5 for both FARO and LION. Supporting above result, Q values provide evidence against the null hypothesis of no autocorrelation. Therefore, absolute value of daily log-returns exhibit stronger serial dependence than in Table III and IV, and autocorrelations are strictly positive for all stocks and indices. Coming to the absolute value of monthly log-returns, only FEIC displays significant individual and joint serial correlation. NAN D1 also displays a significant Q value in lag 2 at 5% level, but it is insignificant at 1% level. Based on the above evidence, two consistent conclusions can be made at this point. First of all, by changing ingredients in our test from log-returns to squared log-returns and absolute value of log-returns, more positive serial correlation can be observed, especially in daily data. Therefore, return variances are more correlated. Secondly, monthly returns tend to follow a random walk model better than daily returns. A.4. Correlation Matrix of Stocks and Indices Table VI presents the correlation matrix for all stocks and indices. As is shown in Panel A for daily result, all of the correlations are positive, ranging from 0.0551 (LION-FARO) to 0.5299 (NAN D10-FEIC). Within individual stocks, correlation coefficients do not differ a lot. The highest correlation is between FEIC and FARO with only 0.1214, indicating a fairly weak relationship between individual stocks returns. However, in terms of stock-index relationships, they differ drastically from 0.0638 (NAN D10-FARO) to 0.5299 (NAN D10-FEIC). While the positive correlation implies that the three stocks follow the indices in the same direction, the extent to which they will move with the indices is quite different, indicating different levels of risk with regard to different stock. Finally, we find that the correlation between NAN D10 and NAN D1 is the second highest at 0.5052. Panel B provides the correlation matrix for monthly data. Similar to results for daily data, negative correlation is not observed. The highest correlation attributes to that between NAN D10 and FEIC (0.7109) once again, but the lowest is between LION and FEIC (0.1146) this time. Compared with results in Panel A, correlation within individual stocks is slightly higher on average. The improvement in correlation is even more obvious between stocks and indices. It implies that stock prices can change dramatically from day to day, but they tend to follow the movement of indices in a longer horizon. Finally, the correlation between two indices is once again the second highest at 0.5116, following that between NAN D10 and FEIC. It is also found that the correlation between indices improves only marginally when daily data are replaced by monthly data, indicating a relatively stable relationship between indices. B. Variance Ratio Tests The results of variance ratio tests are presented in Table VII for each of the three stocks and two decile indices. The test is designed to test for the null hypothesis of a random walk under both homoskedasticity and heteroskedasticity. Since the violation of a random walk can result either from changing variance, i.e. heteroskedasticity, or autocorrelation in returns, the test can help to discriminate reasons for deviation to some extent. The lag orders are 2, 4, 8 and 16. In Table VII, the variance ratio (VR(q)), the homoskedastic-consistent statistics (Z(q)) and the heteroskedastic-consistent statistics (Z*(q)) are presented for each lag. As is pointed out by Lo and MacKinlay (1988), the variance ratio statistic VR(2) is equal to one plus the first-order correlation coefficient. Since all the autocorrelations are zero under RW1, VR(2) should equal one. The conclusion can be generalised further to state that for all q, VR(q) should equal one. According to the first Panel in Table VII, of all stocks and indices, only LION and NAN D1 have variance ratios that are significantly different from one at all lags. Therefore, the null hypothesis of a random walk under both homoskedasticity and heteroskedasticity is rejected for LION and NAN D1, and thus they are not weak-form efficient because of autocorrelations. In terms of FARO, the null hypothesis of a homoskedastic random walk is rejected, while the hypothesis of a heteroskedastic random walk is not. This implies that the rejection of random walk under homoskedasticity could partly result from, if not entirely due to heteroskedasticity. On the other hand, both FEIC and NAN D10 follow random walk and turn out to be efficient in weak form, corresponding exactly to the autocorrelation results reached before in Table III. Panel B shows that when monthly data are used, the null hypothesis under both forms of random walk can only be rejected for FARO. As for FEIC, the random walk null hypothesis is rejected under homoskedasticity, but not under heteroskedasticity, indicating that rejection is not due to changing variances because Z*(q) is heteroskedasticity-consistent. As is shown in Panel A for daily data, all individual stocks have variance ratios less than one, implying negative autocorrelation. However, the autocorrelation for stocks is statistically insignificant except for LION. On the other hand, variance ratios for NAN D1 are greater than one and increasing in q. The above finding provides supplementary evidence to the results of autocorrelation tests. As Table III shows, NAN D1 has positive autocorrelation coefficients in all lags, suggesting a momentum effect in multiperiod returns. Both findings appear to be well supported by empirical evidence. While daily returns of individual stocks seem to be weakly negatively correlated (French and Roll (1986)), returns for best performing market indices such as NAN D1 show strong positive autocorrelation (Campbell, Lo, and MacKinlay (1997)). The fact that individual stocks have statistically insignificant autocorrelations is mainly due to the specific noise contained in company information, which m akes individual security returns unpredictable. On the contrary, while the positive serial correlation for NAN D1 violates the random walk, such deviation provides investors with confidence to forecast future prices and reliability to make profits. C. Griffin, Kelly and Nardari DELAY Tests The results of delay test for the three stocks and two decile indices over the January 2000 to December 2005 period are summarised in Table VIII. We use lag 1, 2, 3, 4 for the daily data and 1, 2, 3 for the monthly data. As is presented in Panel A for daily returns, Delay_1 value for NAN D10 is close to zero and hence not significant, while NAN D1 has the highest delay among all stocks and indices. The rank of delay within individual stocks seems to have a positive relationship between size and delay value, by showing that delay of LION, the stock with smallest market capitalization is lowest, while the delay of FEIC, the stock with largest market capitalization is highest. It seems to contradict with the Griffin, Kelly and Nardari (2006) study, which says that there is an inverse relationship between size and delay. One possible explanation for that is that delay calculated by daily data on individual firms is noisy. The scaled measure Delay_2 produces consistent conclusion but with higher magnitude in values. Delay_2 values are very different from zero for FARO, FEIC, LION and NAN D1. The largest increase in value is seen in FARO from 0.0067 for Delay_1 to 0.7901 for Delay_2. Therefore, Griffin, Kelly and Nardari delay measure is preferable, because the scaled version can result in large values without economic significance. As is displayed in Panel B, employing monthly data also leads to higher Delay_1 values, indicating that more variation of monthly returns are captured by lagged market returns and hence monthly returns are not as sensitive as daily returns to market-wide news. However, an inverse relationship is found this time between delay and market value of individual stocks. Therefore, monthly data provides consistent result to support Griffin, Kelly and Nardari (2006) result as one would normally expect larger stocks to be more efficient in responding to market. Similar to the result for daily data, scaled measure once again produces higher values than its alternative but it provides the same results. V. Conclusion The main objective of this paper is to test weak-form efficiency in the U.S. market. As is found by selected tests, NAN D10 and FEIC provide the most consistent evidence to show weak-form efficiency, while the deviation from random walk is suggested for other stocks and indices, especially for NAN D1 and LION. It indicates that security returns are predictable to some degree, especially for those having best and worst recent performance. The three autocorrelation tests provide different results in terms of daily returns. While the null hypothesis of random walk is rejected for NAN D1 and LION based on log-returns, it is rejected for all stocks and indices based on both squared and absolute value of log-returns, indicating that return variances are more correlated. On the other hand, results in the context of monthly returns are consistent. Monthly returns follow a random walk much better than daily returns in all three tests. Most evidently, the autocorrelation test fails to reject the presence of random walk for all stocks and indices when monthly log-returns are employed. The variance ratio tests provide supportive evidence for autocorrelation tests. Both tests find that in terms of daily return, NAN D1 and LION show a significant return dependence. In particular, variance ratios for NAN D1 are all above one, corresponding to its positive AC and PAC coefficients, thus implying positive autocorrelation in returns. Whats more, individual stocks have variance ratios less than one with FEIC and FARO both being insignificant. The above evidence conclusively suggest that while individual stock returns are weakly negatively related and difficult to predict, market-wide indices with outstanding recent performance such as NAN D1 tend to show a stronger positive serial correlation and thus offer predictable profit opportunities. The evidence regarding delay tests is consistent with earlier findings to a large extent. NAN D1 has highest delay in both daily and monthly cases, implying an inefficient response to market news. In the context of monthly log-returns, delay values for individual stocks rank inversely based on market capitalisation with larger cap stocks having lower delay, suggesting that small stocks do not capture past public information quickly and are thus inefficient. Finally, deviation from a random walk model and thus being weak-form inefficiency is not necessarily bad. In fact, investors should be rewarded a certain degree of predictability for bearing risks. Therefore, future research could be done by incorporating risk into the model. [1] Company information is mainly obtained from Thomson One Banker database. [2] Griffin, John M., Patrick J. Kelly, and Federico Nardari, 2006, Measuring short-term international stock market efficiency, Working Paper

The Curious Incident Of The Dog In The Night Time Essay -- Mark Haddon

In Mark Haddon's contemporary novel, "The curious incident of the dog in the Night-Time", the protagonist, Christopher Boone, does seem completely unsuited to narrating a novel, as he takes on his authorial voice, thus demonstrating symptoms of his disability, 'Asperger's Syndrome.' This is a syndrome that enables him to see the world only through his limited perspective, which is closed, frightened and disorientated - which results in his fear of, and inability to understand the perplexing world of people's emotions. His description of events can be somewhat unreliable as he is unable to see the real truths that lie before him. As he narrates, readers are confronted with his peculiarities - whether it is not liking to be touched, his fear of germs, strangers and crowds to his inability to eat foods with particular colors. However, through Christopher's authorial voice, his description of events in his life, and in particular, his description of his oddities those seem completely 'no rmal' to him, make him an interesting and fascinating narrator. As he can be proven to be an unreliable narrator as he is incapable of lying (and understanding lies) and this limits his ability to perceive the full reality of the world, thus providing him with a strange combination of credibility and unbelievability. Again, this is what makes him a wonderful narrator - at times readers can mistrust his interpretation of such events, or they can believe him. As the novel progresses, Christopher takes his audience onboard his personal journey, and explicates his phobias to us, whether they be 'not liking yellow things or brown things' and 'refusing to touch yellow things or brown things', 'not eating food if different sorts of food are touching' each o... ...ic at the same time which is uncomfortable and confusing...It is like three people trying to talk to you at the same time about different things'. Christopher turns into a wonderful narrator through this device as he introduces us to a syndrome which we find alters all perspective of a person's life. Laughter, something many of us take for granted, sadly isn't really experienced by Christopher, another reason as to why readers would empathize with him, as the only enjoyment he would attain out of life would be on the notions of Mathematics and Science. Therefore, we learn to admire and empathize with him because of his intellectual brilliance and his courage, evident through his detective sleuthing he undertakes to seek his mother. We see how this syndrome alters all perspectives of a person's life; however, we also see how he faces his demons to find the truth.

The Greatest Motivational Factor in My Life Essay example -- Motivatio

Motivation is the process by which one is moved, whether the process is external or internal. It encourages one to do something or not to do something. It can bring about positive change or a negative reaction depending on the situation. Many things affect motivation such as, the environment, your family background, schools, the government, and many other stimuli. Probably the greatest motivational factor in my life is my mother. She has always encouraged me to complete my education, many times when I did not want to. I remember once when I was going to drop out of college, she nearly threatened me with bodily harm if I didn’t finish. Of course, I can’t say that I blame her, I only had one year left. I am extremely glad that she did. I have always had the notion that I had to please everyone else when I was growing up. In elementary school, I had to always do good because my older brothers and sisters were good. Naturally I had to behave as well. I come from a large family. My parents had 15 children! Everyone one of us graduated from high school as well as worked on a farm. When I attended school, all I ever heard was that your brother or sister did well with this subject so you will naturally do as well. Sometimes this was good motivation and sometimes it was not a good tactic to use. There was always one good thing going for the Jacobs family, which was the fact that all of us liked math in school and it was real easy. It is no wonder we had straight A’s i...

The Beach Essay -- essays research papers

The Beach Brothers and sisters grow up arguing, screaming, and fighting from dusk until dawn. The arguments range from talking on the telephone, sharing the bathroom, to who gets dibs on the car. These confrontations appear to be the norm between siblings. In reality, when one comes face to face with losing a sister, all the arguing, screaming, and fighting seem of little importance. I realized this during a blistering hot July afternoon sojourn at the beach. The long drive felt like a never-ending adventure. Instead of cool air, the air conditioner blew air from the gates of Hell. My sister and I sat in the back seat of the ever-shrinking Toyota Camry arguing and hitting each other until dad threatened us yelling, â€Å"Don’t make me drive this car into a telephone pole!† Mom sat on the other side with only two jobs, control the radio and navigate us to the beach. Both were done very poorly, giving us static from the radio and forty-five minutes on a road with no name. After hours of driving, which felt like an eternity, we finally arrived at the beach. Running toward the ocean, I felt the cool sand squish between my toes. The water was clear and inviting, seashells cover the bottom, and rolling waves punctuate the surface. My sister and I went into the ocean, diving through the waves and swimming as quickly as we could. We rode enormous waves into the shore on our raft and then swam back to catch more. We enjoyed ourselves for hours until I was totally exhausted and hea...

Barriers Of Implementing Technology In Education

Over the past fifty years or so, teachers and parents have read and heard forecasts of an impending educational revolution each time a new technological innovation arrived on the scene. Fifty years ago, radio broadcasting was suppose to revolutionize education. Soon thereafter, teaching machines were predicted to bring sweeping changes.Next, television was touted as the medium that would solve problems facing education. Now, the computer is being hailed as the next technological innovation to have a major impact on the educational process.Modern education, in fact, has sustained a long-term interest in the use of educational technology as a means to design more efficient learning opportunities for students. There are tools on how to use the new electronic technologies and this includes: skills software; computer graphics; word processors; telecommunications; simulations; multimedia/hypermedia; virtual reality and distributed learning.. In a field with such a wide range of powerful an d complex tools, experts cannot help but disagree about what teachers need to know and even where they should begin.Not long ago, many experts advised teachers who wanted to become capable computer users learn to write computer programs in languages such as FORTRAN and BASIC. To become computer literate, many assumed that teachers needed to know enough about the technical workings of computers to follow. Few people today believe that teachers need this much technical skill, but textbooks still provide wide varieties of information for beginning technology users. The following steps are needed to take by the beginning technology users: †¢ Develop a philosophy.Teachers must observe where current resources and types of applications fit in the history of the field. Then they must begin developing personal perspectives on the current and future role of technology in education and in their own classrooms. †¢ Purchase products. Teachers must become informed, knowledgeable consume rs of computer products and select wisely among available alternatives. †¢ Identify the problems. Teachers must be able to troubleshoot computer systems they use frequently in order to discriminate between problems they can correct and those that will require outside help.†¢ Speak the language. Sufficient understanding of the terms and concepts related to technology allows users to exchange information with other teachers and experts and to ask and answer questions to expand their knowledge. †¢ See where technology fits in education. In perhaps the most important- and the most difficult- challenge, teachers must identify specific school activities where technology can help to improve existing conditions or to create important educational opportunities that did not exist without it. As part of this process, teachers decide what they need to make these changes occur.This process of determining where and how technology fits is known among users of educational technology as integration. Successful integration requires a connection between how people learn and how teachers employ technology to assist and enhance this learning. DISCUSSION Computer networks offer a significant opportunity for improving the educational climate, especially in situation calling for teaching at a distance in settings which are either primarily educational or primarily business oriented. Computer-based education networks are characterized by a large-scale central computer connected by a communication link to remote terminals.Students work at the remote terminals either individually or in groups. The major advantage of computer-based systems to the student is the potential for individualizing instruction.. Student progress can be continuously evaluated and the student can be assigned to appropriate learning activities. Individualization of instruction is possible because of the one-to-one interaction between the educational system and the student. As far as the student is co ncerned, this is a confidential interaction between himself or herself and the system.The fact that the student is one of many persons using the system at the same time, and the fact that a record is often made of the students’ progress, do not seem to detract from the feeling of individuality and confidentiality on the part of the student. The significant problem for many students in using computer-based system, especially adults, is the typing ability required for the use of the system. The need for typing can be minimized by the use of programming techniques that limit the complexity of responses. System malfunctions are another disadvantage of computing networks and are very frustrating to the individual student.Malfunctions can occur either in the computing itself or in the communication links between the computer and the terminal. While the geographic and time-scheduling of computer-based systems can be an advantage, it can also be a limitation. The terminals themselves and communication links are expensive. At present they cannot be universally located throughout the world. The distribution of other educational materials, such as books, can be accomplished with considerably more ease. Information technology (IT) can be a very effective distance learning medium.The IT package consisted of word processing, spreadsheet and communications software (via Telecom Gold) and a personal computer. IT is an interesting teacher. It can make learning easier and more attractive; for example, a resource for learning about animals could include written information about their habitat, and pictures of it. There could be video clips showing the animal running, accompanied by animated diagrams of the operation of their skeletal structure and muscles. IT is also a patient and responsive teacher. Software does not tire of waiting for a response.Computer Aided Learning software can give pupils immediate feedback. Pupils are rewarded as they make incremental progress. T his can be particularly helpful where pupils have learning difficulties. Rewards can be structured so that pupils are motivated to learn. IT is pupil centered. Unlike traditional didactic teching, strategies for teaching IT will emphasize pupil centered, resource-based learning. This helps IT teachers with the particularly exaggerated problems they have in planning and controlling continuity, progression, differentiation, and breadth and depth of learning.After citing some of the benefits derived from using IT, what therefore, has inhibited a greater use of IT in management education? One reason may be a paucity of good quality educational material for use with computers. Another reason may be a lack of incentive or a resistance to change. Economic reason is also a possibility. Until very recently the use of IT as an instrument for individual learning has been prohibitively expensive. However, the reduced purchase price of the microcomputer has helped lower that barrier. Many teache rs are busy with their daily routines and can find any excuse when asked to add something new.â€Å"Why change what is working? † Many teachers find that it is easier to maintain the status quo: staying with what has been comfortable. Some teachers are afraid of taking any risk and exposing themselves as lacking skills, especially in front of their students. According to Rick Maurer, this fear of change can be categorized into three levels of resistance. Level One: â€Å"Resistance to any use of technology. † These teachers do not understand what the administration is trying to accomplish, or doubt if the school realizes how much technology will cost in time or money.They have their own ideas about what the school should do-they like the status quo, and believe the timing is wrong. Their main concern may just be fear of letting others know what they don't know. Level Two: â€Å"Deeper than the use of technology. † These teachers believe the administration has ma de promises before which they did not keep. They are afraid that technology use is really the start of something deeper and fear if they do not use technology, they will no longer be included as â€Å"in. † Actually, many of these teachers may be worn out by taking on so many changes all at once and may not be completely opposed to using technology.Level Three: â€Å"Deeply embedded resistance. † These teachers may have developed deeply entrenched distrust over many years. They fight anything the administration is supporting because values differ from what teachers want and what administration is proposing. Teachers need a great deal of motivation when it comes to implementing technology in the classroom (Gahala, 2001). There are many obstacles to overcome. Technology can be very intimidating for many teachers â€Å"because introducing technology almost always requires new learning† (Dyrli & Kinnaman, 1994).â€Å"Teachers may lack the time and the motivation to learn technology skills . The integration of technology into the curriculum will not succeed without giving teachers ample time to practice, explore, conceptualize, and collaborate† (Gahala, 2001). This can be done by inviting them to join the school technology planning committee. â€Å"Solicit teachers' participation on the technology planning committee and explain why their participation is important† (Conner, 2002). Another barrier to consider is the cost of technology to be implemented.Computer-based systems are more expensive to set-up. Hardware and softwares must be purchased and staff must be re-trained or recruited. Some disturbance and expense can be expected due to the need for the installation of additional electrical power circuits and computer network cabling and redecoration in parts of the school. Besides the high initial cost, the primary problem with investing in technology is the changing pattern of technology usage along with revisions in the associa ted definition of â€Å"adequate resources†.Maintenance and security for existing resources also became important cost issues. In the 1980’s and 1990’s, new directions in technology use replaced the emphasis on microcomputers with the trend toward multimedia and integrated learning systems. Schools now face a dual challenge that seems likely to remain the only constant amid changing educational technology. Monetary costs associated with the implementation of computer-based technology system includes : 1) Capital cost of computer and network hardware and software; 2) Installation cost, including classroom and laboratory renovation.; 3) Hardware and software upgrades; 4) Support personnel for hardware and software installation, repair, and maintenance; 5) Support personnel and facilities for training and support of users (instructors and students). Obsolete computers are replaced with more powerful computers, which include more sophisticated peripherals and networ k connections. These computers, software, and the associated infrastructure require a greater level of training to use and maintain. Public school systems in the U. S. are currently spending $4,100,000,000 on hardware and software [8].A detailed study of K-12 education estimates that a reasonable target spending for technology should be approximately $300/student, compared to $70/student now being spent [9]. A 1996 forecast predicts spending on educational technology by K-12 and higher education to rise from $6Ãâ€"109 to $14Ãâ€"109 by the year 2000 [10]. As a specific example in higher education, Virginia Tech, which has 25,000 total students, is spending $10-million over four years in an Instructional Development Initiative for classroom and faculty infrastructure.Computer projection equipment is being installed in classrooms, and approximately 1500 faculty members are receiving information technology training and a computer. Once all faculty members complete the course, another 4-year cycle will begin. The dollar amount of this initiative does not include money spent by individual colleges, departments, and research groups for information technology for educational use. Oberlin quotes a total expenditure of $40-million on information technology for a Research-I university of 25,000 students [11].This figure translates to $1,600 per student per year, and does not include the money spent by individual students who can afford their own personal computers, peripherals, and software. Whether purchased with government support, tuition, student fees, or personal funds, the use of information technology is increasing the cost of education. Moreover, other problems may arise during the implementation of technology and these include the following: 1) Methods of working are distorted to fit the requirements of the software used.If the software is not sufficiently flexible so that it can be changed to support current or proposed methods of working then these may have to be adjusted to match the requirements of the software. 2) Bringing new IT-based systems into use can be time-consuming, as it is prudent to continue with both the old system and the new system until it is clear that the new system is working effectively. 3) Software may not do what is required of it. This may happen when the software does not work as it should or because new demands are made for additional facilities that the software is not designed to supply.CONCLUSION/RECOMMENDATION: Nowadays, technology is rapidly moving and we cannot help but to cope with the advancement. It is true that using technology in education is very expensive and time consuming but it was worth the cost. Unfortunately, lack of global long-range planning often amounts to wasted efforts and excessive costs. For an innovation to be successful, teachers need to learn new skills and they may need to unlearn beliefs about students or instruction that have dominated their professional careers (Darling, Ham mond & McLaughlin, 1996).Thus teacher professional development is at the heart of sustaining an innovation. Student support and enthusiasm for the local innovation also played an important role in motivating teachers to continue to carry out and improve the innovation. Teachers want to do what is best for students to enhance their learning. If they believe that students are benefiting from a particular innovation, they in turn will be willing to devote additional time and effort required to maximize the advantage brought on by the innovation.Likewise, educators must resolve many complex issues in order to apply technology solutions to educational problems. They must address many concerns before and during implementation to ensure that technology will have the desired effects on students and schools. These concerns range from funding to selection and placement of technology resources. The author believes that regardless of the downfall of technology, computer-based system of educatio n must go on to continuously improve learning. REFERENCES: 1. Conner, D. (2002, April 12). Technology planning: Closing the communications gap Education World.Retrieved March 19, 2004, from http://www. educationworld. com/a_tech/tech152. shtml 2. Crawford, R. (1997). Managing information technology. London: Roulledge. pp. 131-135. 3. Dyrli, O. E. , and Kinnaman, D. E. (1994, January). Gaining access to technology: First step in making a difference for your students. Technology and Learning, pp 16-50. 4. Crawford, R. (1997). Managing information technology. London: Roulledge. pp. 131-135. 5. Gahala, J. (2001, October). Critical issue: Promoting technology use in schools. Retrieved March 29, 2004, from http://www. ncrel.org/sdrs/areas/issues/methods/technlgy/te200. htm 6. Maurer, Rick. (1995) Beyond the Wall of Resistance: Unconventional Strategies that Build Support for Change. Bard & Stephen. 7. Norton, P. & Sprague,D. (2001). Technology for teaching. USA: Allyn & Bacon. pp. 23-30. 8. Data from a Quality Education Data (QED) report(1996), quoted in J. Chem. Ed. 73, A248. 9. Glennan, T. K. ; Melmed. (1996) A. Fostering the Use of Educational Technology: Elements of a National Strategy; RAND: Santa Monica, CA. http://www. rand. org/publications/MR/MR682/contents. html 10. CCA Consulting Inc.(1996) quoted from News, Resources, and Trends, June 28, 1996, SyllabusWeb, Syllabus Press: Sunnyvale, CA. http://www. syllabus. com/ntr06_28_96. html. 11. Oberlin, J. L. (1996) â€Å"The Financial Mythology of Information Technology: The New Economics,† CAUSE/EFFECT , 19(1) issue of Spring 1996, 21; http://cause-www. colorado. edu/information-resources/ir-library/abstracts/cem9616. html 12. Darling-Hamilton, L. & McLaughlin, M. W. (1996). Policies that support professional development in an era of reform. In M. W. McLaughlin & I. Oberman (eds. )Teacher learning: New policies,new practices. NewYork: Teachers College Press.