Is fundamental analysis redundant Essay Example for Free

Is fundamental digest redundant EssayIntroductionShortly after the tune market place crash in 1929, as the first batch of financial experts in the Great Wall, Benjamin Graham and David Dodd firstly mentioned the concept in a book called security psycho synopsis found on public information that intelligent investors are able to analyse securities and determine whether the current determine of armorys and bonds is over or below their intimate apprise. The Critical thinking and knock-down(prenominal) logic make this theory become the foundation of nearly all investments theories in Wall Street. Warren Buffett, John Neff, incision Lynch and other famous investors become thebest practitioners in fundamental analysis. This essay result firstly introduce the related theories of fundamental analysis. Secondly, the essay will let off free cash shine place to fairness valuation and the qualitative and quantitative factors of fundamental analysis. Thirdly, choosing a particu lar community analyses the relationships amongst the track down-in financial balances and its downslope price. Finally, indicating why financial balances and free cash issue model can non explain Berkshire Hathaway cooperations transmission line price changed during global financial crisis. hypothesis Aasuumption MetholodyTheoryFundamental analysis which is based on analyzing the inhering cheer of securities, focuses on factors affecting the tune price and its trend and lets investors determine what type of securities they subscribe to buy and when to buy. (Lee and Swaminathan 1999, 8 )The basic assumption of fundamental analysis is that respect investors believe that the market price is determined by its intrinsic value and the stock price can ricochet its intrinsic value in the long term.Cash guide modelFundamental analysts use cash flow model, dividend model to roughly estimate a guilds intrinsic value. They aim that the stock price of the intrinsic value is it s present value of the stream of evaluate cash flows and the selected reference values are based on generating the cash flow data. For example, using free cash flow model to measure intrinsic value, investors firstly assume the observed confederation can outgrowth at constant vagabond and thence choose the reference value based on a constant growth rate (g)to estimate free cash flow the next 10 familys. Secondly, they calculate the present value of the 10-year cash flow based on the constantly discounted rate (k). Secondly, they estimate the terminal value P10=free cash flow*(1+g)/(k-g) and calculate its present value. Thirdly, they get the present value of the company and calculate pre- share value equity value/numbers of shares. Rational investors can make well-informed investment decisions according to the relationship betwixt market price and intrinsic value.Qualitative factorsOn the company level, fundamental analysis focused on two factors qualitative and quantitative. Q ualitative and quantitative analyses pose a dialectical relationship. Both analyses should join together to analysis and inspect on a particular company. Although qualitative analysis is used for physical areas, with the work to tackle non-financial information, it can be widely useful in business and finance fields.(kesh and Raja 2005, 167) The qualitative analysis of the company level is concerned with products and work, competitive advantage, management efficiency, corporate culture.Advanced products can get increasing cash inflows and improve company value (Carter and Demissew 2008, 63) because booming demand for products and services can lead to a richly reinvestment rate of the company, this creates additional wealth.( Madden 2007, 125) Competitive advantage can includes producing capacity and the efficiency of a companys design and appeal controlling better than the industrys competitors. Generating a competitive advantage for a company will creates stakeholder value. ( Vilanova, Lozano and Arenas 2009, 63) The improvement of management efficiency can get operating costs and company culture can enhance corporate image, track to improvement of company value.Quantitative factorsThe quantitative factors in fundamental analysis are based on a deep understanding of financial reports which is the process of identifying opportunities and threats from the company, so investors must be concerned with the balance sheet, cash flow statement and income statement analysis. fiscal statements consist of all important historical information about the companys operation management during a specialized time period (every quarter, annually). All these information provide an overview of a companys business activities and can help managers assess the companys wellbeing. (Dayanandan 2010, 116)Financial statementDifferent users are interested in different areas of the financial statements. For example, investors and equity holders are concerned withexpected earnings a nd dividends of the observed companies. Companys executives usually focus on the companys capacity. Therefore, based on historical reports, different users can get valuable information about what they contract on. Financial statement analysis includes selected data from financial statements to predict the companys financial health.( Hagos and Pal 2010, 441) Applying these data from financial reports, such as profitability ratio, runniness ratio, management efficiency ratio, debt ratio, market performance ratio analyses year by year to determine whether to buy or sell observed companies.Based on analyzing financial statements, financial analysts are able to use profitability ratio, including gross margin, hard roe to indicate how efficiently revenue is revertd. The liquidity ratio such as current ratio, net working capital can be used to prove the firms ability to generate sufficient liquidity when needed and to meet short term obligations. For example, current ratio is an indi cant as a rate of current assets to current liabilities. It measures the liquidity status of a company. With a higher current ratio over time, this company will be able to meet its current obligations and experience less financial risk.( Zaki, Bah and Rao 2011, 315) Table1 Sourced by BerkshireYearROETotal asset turnoverDebt/equityP/EP/BclosedPrice20030.1050.5881.3212.71.34$8428020040.0850.3941.2018.81.6$8790020050.0930.4121.1615.51.45$8862020060.1020.3971.2712.51.27$109990Table 1 preceding(prenominal) shows the some figures provided by Berkshire corporations annual report from 2003 to 2006. During this period, the stock price has a significant increase from $67600 in Jan 2rd, 2003 to $109990 in Dec 1st, 2006. And from 2003 to 2006, Berkshire Hathaway Incs net worth is $13.6billion, $8.3billion, $5.6billion and 16.9billion respectively.Graph1 Berkshire Hathaway(BRK) Incs stock price between 2003 and 2006Sourced by yahoo financeThe increase of Net worth can indicate the stock prices change during this period. The slang in net worth during 2003 was $13.6billion, which change magnitude the per-share book value of its stock by 21% from $41727 to $50498. Becauseof good quarterly reports and an annual report, the stock price reflected the companys performance, rising from $67600 to $89490. However, between 2004 and 2005, the gain in net worth increased $8.3billion and $5.6billion. Although in 2004 Berkshires book-value gain of 10.5% reduce short of the indexs 10.9% pay, the net worth fell from $13.6billion to $8.3billion, leading to fluctuation of the stock price during 2004. In 2005, the net worth fell to $5.6 billion because hurricane caused loss worth of $34billion. And in the stock market, the price fluctuated and even slightly increased. However, the price reflected the companys performance.As a multi-business company, its main business-insurance company called GEICO improved its management efficiency at nearly 32% and warranty numbers increased by 26%. On the other hand, insurance swash of BRKs insurance company increased from 46 billion to 49 billion. Due to the capital cost rate of mostly 0% and improving competitiveness, its stock price rose sharply.Financial ratios (price to book ratio and earnings per share ratio) measure share price compared to earnings, book value per share and indicate whether the market overvalues, undervalues and appropriately values the firm shares. Managers use to assess investors perceptions of future prospects. near investors invest in stock market based on analyzing financial statements.Table2Table2 shows in the main the relationship between the book value and stock price. Financial analysts are willing to use book value to measure the stock price. From the table 2 above, the book value of the Berkshire Hathaway increases from $14426 in 1995to $70281 in 2006 and the companys stock movements, rising from $31900 in 1995 to $110050 in 2006. In addition to particular years, these two charts reflect clea rly whether a short term or a long term, the trend of the book value and stock price is roughly the same. In the long term, the growth rate of the net worth is a useful indicator to justify intrinsic value. From 1995 to 2006, the net worth of Berkshire Hathawaysnet worth increased from $5.3billion to $16.9billion, more than 3.18 times growth during the period. Stock price had increased 3.44 times with book value 4.87 times. Although 1n 1999, the net worth fell to 0.358billion, in the long term, this company still had a significant increase in its stock market performance.Analysts in like manner can apply activity ratios such as total asset turnover ratio and average payment ratio period to measure management effectiveness in managing its assets and to determine whether the investment in particular asset categories is too high or too low and also find out the efficiency or speed in converting accounts to sales or cash. (Dayanandan 2010, 114)Debt ratios such as debt to equity ratio and debt ratio can indicate financial leverage and the apparent financial risk assumed by the firms equity holders. useDow JonesGraph2 Dow Jones industrial indexSourced by yahoo financeGraph2 shows the change of Dow Jones industrial index before, during and after global financial crisis. The global financial crisis started in 2007 because the detonate of housing bubble caused credit crisis especially in the debt markets.( McCarthy, Solomonand Mihalekl 2012, 1277 ) the stock market highly violated between 2007 and 2009. For example, in United States, the stock market increased to the peak in October 2007 with the Dow Jones Industrial Average about 14,000. After that duration, the Dow Jones dropped sharply from 12,000 in August 2008 to 6,600 in March 2009. After 2009, there is significant increase until now, rising to 14,929.Company- Berkshire HatchawaysBerkshires core business for insurance business includes the property casualty reinsurance and special class insurance company. For the past 25 years, this company has increasingly strong capital and little debt, for shareholders to create the value of more than 25% growth on average everyyear. Table 3 shows analysis ratios and stock price from 2006 to 2012. Table3YearROETotal asset turnoverDebt/equityP/EP/BclosedPrice20060.1020.401.2712.51.27$10999020070.1090.431.2413.81.51$14160020080.0460.401.4138.161.71$9660020090.0590.381.1918.11.11$9920020100.080.371.2914.91.24$12045020110.060.371.32191.18$11475520120.0770.381.23141.1$133000Sourced by BerkshireGraph3 Berkshires stock price between 2006 and 2012Sourced by yahoo financeThe gain in net worth during 2006 was $13.6billion, which increased the per-share book value of its stock by 18.4% to $109990. In 2007, the net worth is 12.3billion, which increased the per-share book value of its stock by 11% to $141600. However, in 2008, the stock price fell to $96600, and then there is an increasing trend from 2009 to 2012.Total assets turnover ratioTotal assets turnover ra tio measures the management efficiency of the firm in managing its total assets to generate sales. A high ratio suggests greater efficiency. Figures shown in table3, the total assets turnover ratio during global crisis had slight change between 0.37 and 0.40. However, the stock price changed sharply, so the stock price can not reflect the stability of this ratio. ROE indicates the rate of return realized by a firms shareholders on their investments and uses as an indicator for the companys operation.Return on equity (ROE)Return on equity (ROE) is the best indicator to learn how much money a company is making for its investors and measurement of the companys operations. (Dayanandan 2010, 117) However, ROE is also sensitive to leverage. Assuming that proceeds from debt financing can be invested at a return greater than the borrowing rate, ROE will increase with greater amounts of leverage. From 2007 to 2008, the debt to equity ratio increased by 13.7%, from 1.24 to 1.41. However, ROE rate fell sharply from 10.9% to 4.6%. Although ROE overreact to debt change, Berkshires fundamental did not change in 2008. Most of Berkshires business is affected by the economic significant downward in 2009. However, its manufacturing services and retail generated a lot of cash flow and continued to consolidate their market competitive advantage. Berkshires two most important businesses business insurance and utilities also had a good growth rate. These businesses produced a large amount of business profits in 2008.P/E ratioP/E ratio is a common approach used by security analysts. In practice, investors usually use expected P/E ratio for the following year and analyse whether the stock price is overvalued or undervalued on the basis. P/E ratio indicates that a stock of its P/E rate over 30 is more likely to be overpriced. The P/E ratio in 2007 and 2008 is 13.8 and 38 respectively and the stock price during the period time of 2007 and 2008 is $141600 and $96600. The change of stock price is overreact to the pre-share earnings.P/B ratioP/B ratio gives some idea of whether an investor is paying too much for what would be left(p) if the company went bankrupt immediately. From 2006 to 2009, P/B ratio increased or decreased had no direct correspondence with the stock price. However, to most companies, the book value is always lower than the stock price. Because most companies have intangible assets such as brand name, specialized skillsproduct pricing power. These factors can not reflect in the balance sheet, but the long term trend of the market value is similar with book value. It seems that when P/B ratio increases, the gap between book value and stock price increases. On the other hand, the gap shows investors are willing to hold the stock due to its intangible assets.Cash flow modelAll these financial ratios cannot explain what happened in 2008 and using cash flow model to estimate the stock price also cannot explain this situation. Because investors assume the company can increase at constant rate. Although they use long-term GDP growth rate to reduce the risk of assessing value, this growth rate cannot explain and predict what happened during the investing period. They also use CAPM to measure discounted rate given by the risk-free interest rate plus a risk premium. The conventionalism is ki=Rf+(Rm-Rf)i. However, sometimes cannot estimate risk between the market and stock. For example, a companys market value increases from 10billion t0 20billion is less than market value of the company from 10billion to 3billion. If the company still operate well, from the market side, the risk of buying a company of the market value of 20billion is less than buying the same company of its market value of 3billion.ConclusionTherefore, during global financial crisis, fundamental analysis was useless. It is clear that during some periods the stock price is overvalued or undervalued significantly from its intrinsic value, leading to highly volatility of market price. Any market volatility is considered as irrational performances, so these market valuations caused by behavioral finance which do not have impacts on the companys assets valuations andoperations. (Adams, Armitage and FitzGerald 2012, 157).In the long term, the trend of the stock price is similar to the trend of its intrinsic value. On the other hand, in the short term, market price is influenced and fluctuated by political, economic, psychological factors, so market price is always undervalued or overvalued, but it is fluctuating around the intrinsic value. Some research show that sometimes earnings information cannot react to the stock market simultaneously and all the public financial information pose a gradual influence on the stock market for a while. During global financial crisis, the stock price sharply fluctuated because of financial behavior. Debt crisis caused by housing bestow had a significant impact on peoples confidence. Traders low confidence let them make decisions irrationally.Reference list1. Lee, C.M.C. and Swaminathan, B. 1999. Valuing the Dow A bottom-up approach. Financial Analysts Journal 55 (5) 4-23.2. Kesh, Someswar. and Raja, M. K. 2005. Development of a qualitative reasoning model for financial forecasting. Information Management Computer Security 13 (2) 167-179.3. Carter, T. and Demissew, D.E. 2008. Value innovation management and discounted cash flow. Management Decision 46(1) 58-76.4. Madden, B.J. 2007. Guidepost to Wealth Creation Value-Relevant Track Records. Journal of Applied Finance 17 (2) 119-130.5. Vilanova, M., Lozano, J.M. and Arenas, D. 2009. Exploring the nature of the Relationship Between CSR and Competitiveness.Journal of Business Ethics 87 57-69.6. Dayanandan, R. 2010. Working Capital Management for Sustainable Cooperatives. Global Business and Management Research 2(1) 102-124.7. Hagos, T.M. and Pal, G. 2010. The means of analysis and evaluation for corporate performances. Annales Universitatis Apu lensis Series Oeconomica 12 (1) 438-449.8. Zaki, E., Bah, R. and Rao, A. 2011. Assessing probabilities of financial distress of banks in UAE. International Journal of Managerial Finance 7 (3) 304-320.9. McCarthy, Mary., Solomon, P., and Mihalek, Paul. 2012. Financial Crisis During 2007 And 2008 Efficient Markets Or Human Behavior? Journal of Applied Business Research 28 (6) 1275-1281.10. Adams, A., Armitage, S. and FitzGerald, A. 2012. An analysis of stock market volatility. Annals of Actuarial Science 61153-170.

The paradox of omnipotence, and Mackie`s solution Essay Example for Free

The paradox of omnipotence, and Mackies solution EssayOmnipotence is inexhaustible, unlimited power. The attribute of omnipotence (being all powerful) is generally a quality of the God of mo nonheistic religions. There exists an argument, however, that the concept of an omnipotent being is paradoxical, crockeding that it is logically impossible that an omnipotent being toilette exist. One of the more than well-known renderings of this paradox goes Can God establish a rock that would be too heavy for him to lift? What this question is asking is essentially can God can create something that he cannot subsequently control?This question presents a dilemma. If the answer is yes (because God can do anything, after all), it would mean that he is not actually omnipotent, for how could there exist something that an omnipotent being cannot control? If the answer is no (because how could God not be able to lift a stonehes supposed to be all-powerful), then he is not actually omnipotent , because here is something he cannot do after all (he cannot create something that he cannot control).Thus, with either answer, the conclusion is that God is not omnipotent. In his answer to this problem, John L. Mackie says that if an omnipotent being creates an uncontrollable thing, then controlling this thing would mean controlling an omnipotently-made-uncontrollable thing, which is logically impossible. Thus even the omnipotent being will not be able to control it, and his failure to control it would actually be an affirmation rather than a refutation of the his omnipotence.Rigid designator and non-rigid designators The concept of rigid and non-rigid designators is somewhat akin to the concept of proper nouns and common nouns. A rigid designator is a term in philosophy that designates or defines the same object in all possible worlds in which that object exists and never designates anything else (LaPorte, 2006). Inversely, a non-rigid (or flaccid) designator is a term that does not refer to the same object in all possible worlds.For example, the sentence Neil Armstrong was the first adult male on the moon contains both a rigid designator (Neil Armstorng) and a non-rigid designator (first man on the moon). If events had been different, Neil Armstrong might not have been the first man on the moon, but Neil Armstrong (not just as a name, but as it refers to the man himself) will always be who he is.

Transformational Leadership Style And Organizational Culture Management Essay

Transformational leaders Style And organisational Culture Management EssayThis quantitative seek investigates the family amid transformational leading room organisational conclusion with organizational commission and trouble contentment in field cover mickle in Libya. The literature supported the kinship in the midst of these variables and the kindred amongst these variables was investigated by distinct approaches. However, in the current subject area the researcher uses transformational drawshiphip flare which introduced by thick as a independent variable and quaternion types of organizational acculturation much(prenominal) as Clan, Hierarchy, Adhocracy, Market and which introduced by Cameron and Quinn in 1999 as a mediator variable, speckle the three dimensions of organizational consignment such as Affective, Normative and Continuance loyalty which introduced by Meyer and Allen in 1991 and telephone circuit satisfaction as dependent variables.The ob jectives of this research are Firstly, to determine the spirit of the family between transformational leading style with organizational consignment (affective, normative and continuance) in national crude embrocate lot in Libya. Secondly, to determine the nature of the relationship between transformational lead style with patronage satisfaction in subject field embrocate stomach in Libya. Thirdly, to determine the nature of the relationship between transformational leaders style with organizational culture (Clan, Market, hierarchy and adhocratic) in National crude potbelly stove in Libya. Fourthly, to determine the effect of Organizational culture (Clan, Market, hierarchy and adhocratic) on the relationship between transformational leading style with organizational committal (affective, normative and continuance) in National anele Corporation in Libya. fifthly, to determine the effect of Organizational culture (Clan, Market, hierarchy and adhocratic) on the relatio nship between transformational leadership style with job satisfaction in National oil color Corporation in Libya. Lastly, to determine the nature of the relationship between organizational commitment (affective, normative and continuance) with job satisfaction in National inunct Corporation in Libya.To strike these aims 4 instruments ordain use in this research such as Multifactor Leadership Questionnaire (MLQ) uses to test employee opinions about leadership style, Organizational Culture Assessment Instrument (OCAI) uses to measure Organizational Culture, (TCOCQ) Three Components Organizational Commitment Questionnaire uses to measure Organizational Commitment and (JSS) Job Satisfaction Survey to measure Job Satisfaction in National Oil Corporation in Libya. The pilot mull over maintain that these instruments were suitable for this research because the result of the Cronbachs alpha reli baron coefficients for the transformational leadership style, organizational culture, orga nizational commitment and job satisfaction are more than 0.70.The nature of the data and the relationship between the method and the research objectives are considered as the basis for selecting the right statistical methods. Therefore, this contract used what is relevant to the research question and framework. The statistical methods will be used in this study consist of Descriptive analysis, Inferential analysis, Correlation, and Multiple analogue regression. The findings from this study will excessively provide some useful breeding of leadership style in oil sector in Libya to umteen researchers and managers with the opportunity to gain and enhance their knowledge in this field, and will be abide building knowledge and an redeing in this field in National Oil Corporation in Libya insha Allah.CHAPTER ONEINTRODUCTION1.1 Background of the studyLibya is a element of the Organization of Petroleum Exporting Countries (OPEC) and holds the largest proven oil reserves in Africa. L ibya has attracted hydrocarbon exploration since 1956, when the first wildcat oil well was drilled onshore in the Sirte Basin. Libya granted multiple concessions to Esso, Mobil, Texas Gulf, and new(prenominal)s, resulting in major oil discoveries by 1959. The brass dominates Libyas economy through control of oil resources, which account for approximately 95% of export earnings, 75% of government receipts, and over 50% of GDP. The National Oil Corporation was established in 1970. It dominates Libyas oil industry, along with a number of smaller subsidiaries, which combined account for around half of the countrys oil output. Figure 1.1the map of Libya describes fuck up Pipeline, Oil Pipeline, Oil Field, Liquefied Gas Planet Oil Terminal (Oil Exporting harbor) and Petroleum refining which consume and controlled by National Oil Corporation in Libya.http//www.odysseydawn.com/libya-oil-map.jpgFigure 1.1 Map of Libya describes Gas Pipeline, Oil Pipeline, Oil Field, Liquefied Gas Planet Oil Terminal (Oil Exporting harbor) and Petroleum refining which owned and controlled by National Oil Corporation in Libya.Source http//www.google.com.my/images (8-4-2011)National Oil Corporation is carrying out exploration and production operations through its own affiliated companies, or in participation with other companies under service contracts or any other kind of fossil oil investment agreements. This is in summing up to selling operations of oil and gas, locally and abroad. NOC has its own fully owned companies which carry out exploration, development and production operations, in addition to local and supranational marketing companies. NOC also has participation agreements with specialized world(prenominal) companies. Such agreements throw off developed into exploration and production sharing agreements, in accordance with the development of the international oil and gas industry, and international petroleum marketing. The National Oil Corporation of Libya (NOC) is a state-owned company that controls Libyas oil and gas production. The company is the biggest oil producer in Africa. Its mandate was to endeavor to promote the Libyan economy by undertaking development, direction and exploitation of oil resources as well as by fighting(a) in planning and executing the general oil policy of the state.The Brega Petroleum Marketing Company, a subsidiary of NOC, was set up to carry out the marketing activities of NOC, and the marketing assets of all the foreign oil companies were nationalized. A point of that during the past four decades, the impact of leadership styles on organizational performance has been a study of interest among academics and practitioners working in the area of leadership (Darwish, 1998 Sadler, 2003 Rowe et al., 2005 Gadot,2007 Yiing, and Zaman Ahmad, 2009). The researcher would like to examine how leadership style put to works organization performance in Libya in (NOC). Rowe et al (2005) pointed out that the to the highest d egree prominent reason for this interest is the widespread belief that leadership croupister affect organizations performance (Jing and Avery, 2008).In addition, the creation of a state-owned oil company allowed Libya to follow in the footsteps of other oil-producing economies, where control of such a revenue-generating resource lay with the government. Soon after its establishment, NOC signed a vocalise venture agreement with the U.S. Occidental Petroleum involving production-sharing. In 1971, NOC arranged a processing deal with Sincat of Italy for refining oil products for domestic consumption, thitherby providing a seamy supply of oil for internal Libyan consumption. A joint drilling company was formed with Saipem, a subsidiary of the Italian ENI, in early 1972. By April 1974, production-sharing agreements had been reached with Exxon, Mobil, Compagnie Franaise des Ptroles, Elf Aquitaine, and Agip. By using the surplus funds and technical expertise of the foreign oil companies , the problem of stimulating investment in exploration was resolved. In 1980, the Libyan Arabian Gulf Oil Company (Agoco) was established by NOC through the amalgamation of the Arabian Gulf Exploration Company, Umm-al-Jawabi Oil Company, and direct NOC exploration and production interests. NOC continued to bother production-sharing agreements. In 2004, NOCs estimated crude oil output was 1.623 million barrels per day. The company hoped to raise its production to deuce million barrels per day by 2007. Figure 1.2 below shows the revenue of National Oil Corporation in Libya from (1999 to 2009).Figure 1.2 Libyas Oil Production (1999-2009) in million barrels per daySource British Petroleum, BP Statistical Review of World Energy June (2010)This study set out to investigate whether there is an interrelationship between transformational leadership style and organizational culture, and the effect of organizational culture on the relationship between transformational leadership style with o rganizational commitment and job satisfaction in the National Oil Corporation in Libya. In particular, our knowledge would benefit from an understanding of how leadership and organizational culture affect job satisfaction and organizational commitment. The study examines Libya National Oil Corporation in relation to leadership style in the organization. Thus, the study also would like to look for an organizational culture of the National Oil Corporation and finally how does leadership style in particular transformational leadership style may ferment the National Oil Corporation progresses.The subject of leadership is interesting for many researchers. In addition, the continued search for good leaders has resulted in the development of many leadership theories (Mosadegh and Yarmohammadian, 2006). According to Oluseyi and Ayo (2009) Leadership is a central feature of organizational performance. This is an essential part of management activities of deal and directing their efforts t owards the goals and objectives of the organization. There must be an attach form of behavior to enhance performance. Leadership might be viewed in terms of the role of the leaders and their ability to achieve effective performance from others. In recent years, leadership has been studied in various ways, depending on the researchers methodological preferences and definition of leadership (Chen, 2002 Reuvers, et al., 2008 Gadot, 2007).Oluseyi and Ayo (2009) defined Leadership as the moral and intellectual ability to visualize and work for what is best for the company and its employees. Good management and effective leadership help to develop team work and the integration of individual and congregation goals. On the other hand, Kenny and Zaccaro (1983) suggested that leaders to be successful need a behavioral repertoire and the ability to select the right role for the situation. To do this, leaders need both cognitive and behavioral complexity and flexibility a leader needfully th e ability to perceive the needs and goals of a constituency and the ability to even off ones personal approach to group action (Leban and Zulauf 2004).Therefore, Mosadeghrad et al (2006) pointed out that while there are several styles of leadership such as autocratic, bureaucratic, laissez-faire, charismatic, democratic, participative, situational, transactional, and transformational leadership. Not everyone agrees that a particular style of leadership will result in the most effective form of organizational behavior. Different styles were needed for several(predicate) situations and each leader needed to know when to exhibit a particular approach. No one leadership style is ideal for every situation, since a leader may fuddle knowledge and skills to act effectively in one situation but may not emerge as effectively in a different situation.In contrast, Darwish (1998) pointed out that there is wide disagreement among scholars with regard to effective leadership style. For instanc e, Brozik (1994) argues that no one type of leadership style is the best in all situations. The leader, subordinates and the environment or the task determine the effectiveness or ineffectiveness of each style Kur (1995) believes that effectiveness in leading is directly cerebrate to the leaders way of thinking about him, subordinates, organization and environment. Likert (1977) argue that the participative style is more productive in any culture.In the last three decades many scholars had received increasing attention to two new paradigms called transformational leadership and transactional leadership where the interests of the study are. It added a new dimension to organizational studies, namely the visionary eyeshot of leadership and the emotional involvement of employees within an organization. The basic notion is that a visionary leader can create an impression that he has high competence and a vision to achieve success (Jing and Avery, 2008). According to Bass (1985) develo ped a theory of visionary or transformational leadership whereby the leader inspires and activates subordinates to perform beyond normal expectations (Jing and Avery, 2008). The study would like to examine this in National Oil Corporation in Libya.On other hand, Lowe et al., (1996) pointed out that there are four dimensions of transformational leadership style such as Idealized make up ones mind or charisma, inspirational motivation, intellectual stimulation, and individualized consideration. (Bass et al., 2003 Piccolo and Colquitt, 2006), defined these dimensions for transformational leadership as followsa. Idealized influence or Charisma is the story to which leaders behave in such a charismatic way that followers identify with them.b. Inspirational motivation is the stratum to which leaders articulate visions for the future that appeal to followers.c. Intellectual stimulation is the degree to which leaders challenge assumptions, take risks, and solicit followers ideas.d. Indiv idualized consideration is the degree to which leaders attend to followers needs, act as mentors or coaches, and listen to followers concerns.Bass, (1985), Burns (1978) Leadership is considered a factor that has a major influence on the performance of organizations, managers and employees. More recently, researchers have focused mainly on the subordinates perspective and proposed two main facets of leadership transactional and transformational. This theory suggests that transformational leadership, more than transactional leadership, has a stronger positivistic effect on employees attitudes towards their job, their job environment, and ultimately affects their work performance.Oluseyi and Ayo (2009) pointed out that leadership is a central feature of organizational performance. This is an essential part of management activities of pack and directing their efforts towards the goals and objectives of the organization. There must be an appropriate form of behavior to enhance performa nce. Leadership might be viewed in terms of the role of the leaders and their ability to achieve effective performance from others. On the other hand, Xenikou and Simosi (2006) suggested that organizational culture and transformational leadership have been theoretically and empirically linked to organizational effectiveness. During the nineties a number of comparative studies on the culture-performance link showed that certain culture orientations are conducive to performance.Lok and Crawford (2004) pointed out that organizational culture can influence how people set personal and professional goals, perform tasks and administer resources to achieve them. Organizational culture affects the way in which people consciously and subconsciously think make decisions and ultimately the way in which they perceive. slice other researchers has suggested that organizational culture can exert considerable influence in organizations particularly in areas such as performance and commitment.Bass (1985) said that transformational leaders frequently change their organizations culture with a new vision and revision of its shared assumptions values and norms. In a transformational culture, there is generally a sense of purpose and a feeling of family. Superiors feel a personal obligation to help new members plunge into the culture. Assumptions, norms, and values do not preclude individuals from pursuing their own goals and rewards. In addition, Bass (1985) mentioned that transformational qualities lead to performance beyond expectations in organizational settings. A study of Ogbonna and Harris (2000) organizational culture and leadership finds that the two areas have been independently linked to organizational performance.A little critical research attention has been devoted to understand the links between the leadership and culture also and the impact that such an association might have on organizational performance (Ogbonna and Harris, 2000). Organizational commitment is an fundamental employee attribute from the organizations perspective. Several studies have found relationships between high-commitment human resource policies and positive organizational outcomes such as productiveness, quality, and profitability (Perryer and Jordan 2005).Organizational commitment has been studied in relation to employee performance there is still considerable controversy surrounding the precise nature of the relationship. While there is some recite to suggest that organizational commitment is a mediating variable between leadership and performance. Consequently, studies that examine the complex relationships and interaction between these variables will be of value to management theorists and practitioners.Lok and Crawford (2004) said that organizational commitment and job satisfaction have received significant attention in studies of the work place. This is due to the general recognition that these variables can be the major determinants of organizational performanc e and effectiveness. A numerous of studies in the area of job satisfaction and organizational commitment have been asserted that leadership and organizational culture have significant impact on both job satisfaction and organizational commitment (Chen and Francesco, 2000 Mathieu and Zajac, 1990 Williams and Hazer, 1986).Lok and Crawford (2004) had the same result in his research which has been done to make comparative between Hong Kong and Australian managers the result confirms that organizational culture and leadership styles are important organizational antecedents of job satisfaction and commitment. However, the influence of national culture on leadership styles, organizational culture and their subsequent effects on employees job satisfaction and organizational commitment were not researchd intensively enough in National Oil Corporation in Libya.To choose National Oil Corporation in Libya for the current study because Libya is a member of the Organization of Petroleum Exportin g Countries (OPEC). It holds the largest proven oil reserves in Africa which make it as one of the most important oil-producing countries in Africa and in the world. Therefore, petroleum sector in Libya is very important sector which is like the backbone of Libyan economy. In this context, National Oil Corporation of Libya (NOC) is a state-owned company that controls Libyas oil and gas production. The company is the biggest oil producer in Africa. Its mandate was to endeavor to promote the Libyan economy by undertaking development, management and exploitation of oil resources as well as by participating in planning and executing the general oil policy of the state.In additionally, the study expected to offering some useful information of leadership style in National Oil Corporation in Libya, and hopes that this useful information can help to contribute building knowledge and an understanding in this filed in National Oil Corporation in Libya.1.2 Purpose of Research StudyThe purpose of this study is to explore the relationship between transformational leadership, organizational culture, with job satisfaction and organizational commitment in National Oil Corporation in Libya. Cameron and Quinn (1999) pointed out that numerous studies story the most frequent reason given for the failure of planned organizational change was due to a neglect of the organizational culture.According to Schneider (2000) Organizational culture is a key to organizational success, and effective leadership is the means by which the culture is created and managed. Understanding organizational culture is an important activity for managers because it affects strategic development, productivity and learning at all levels of management (Twati and Gammack, 2006).The relationship between transformational leadership style and organizational culture was examined by some researchers such as Xenikou and Simosi (2006), who asserted in his study that organizational culture had direct impact on organ ization performance while transformational leadership had indirect positive influence on performance through its impact achievement orientation. This study showed that organizational culture mediates the effect of transformational leadership on performance. Therefore, the purpose of the study is to accept or contemn the suppositions that there is a relationship between transformational leadership style organizational culture with job satisfaction and organization commitment in National Oil Corporation in Libya.Therefore, Yiing and Bin Ahmad (2009) pointed out that leaders behaviors have positive and significant relationship with organizational commitment. On the other hand, cultures have significant moderate effects on the relationship between leadership behaviors and organizational commitment. However, the main academic purpose of this study is to make a contribution in leadership field behaviors on culture and on organization behavior in the petroleum sector in Libya.1.3 Problem StatementThe oil sector is the most important sector in Libya. Libya is one of the most important oil-producing countries in Africa and in the world and that the interest in this sector is very important. Therefore, this sector needs professionals leaders who can achieve all the goals of both employees and organization. An organization short on capital can borrow money, and one with a poor attitude can move. But an organization short on leadership has little chance for survival (Darwish, 1998). A set of characteristics that help leaders to achieve the plans, programs, policies and outline that have been developed and the advancement of their respective organizations. The most important of these characteristics experience, decision-making, knowledge and to deal with the environmental variables that may occur both within and outside the organization.The flunk of these skills and characteristics makes it difficult for leaders to carry out its functions and achieve organizations goal s. Therefore, Chen (2002) found that transformational leadership behaviors have a slightly positive relationship with organizational commitment. While Harris and Mossholder (1996), pointed out that organizational culture stands as the center from which all other factors of human resource management derive. It is believed to influence individuals attitudes concerning outcomes, such as commitment, motivation, morale, and satisfaction.In addition, Bass (1985) have mentioned that demonstrates the relationship between leadership and culture by examining the impact of different styles of leadership on culture. He argues that transformational leaders frequently work towards ever-changing the organizational culture in line with their vision. Similarly, Brown (1992) observes that good leaders need to develop the skills that enable them to alter aspects of their culture in order to correct their organizational performance.The leaders of National Oil Corporation have to know that organization al culture, organization commitment and job satisfaction are very important factors can help them to achieve the goals of the organization, and these variables enhance organization performance. In short, and based to what has been mentioned preceding(prenominal), this study is trying to clarify the relationship between transformational leadership style organizational culture with job satisfaction and organizational commitment in National Oil Corporation in Libya. Which the researcher believes it does not exist in Libya National Oil Corporation. Specifically, the relationship between transformational leadership style organizational culture with job satisfaction and organizational commitment and how organizational culture effect the relationship between transformational leadership style with organizational commitment and job satisfaction in National Oil Corporation in Libya.The research questions are as follows1. Is there any relationship between transformational leadership style or ganizational commitment (affective, normative and continuance) in National Oil Corporation in Libya?2. Is there any relationship between transformational leadership style job satisfaction in National Oil Corporation in Libya?3. Is there any relationship between transformational leadership style with organizational culture (Clan, Market, hierarchy and adhocracy) in National Oil Corporation in Libya?4. Does Organizational culture (Clan, Market, hierarchy and adhocracy) have any effect on the relationship between transformational leadership style with organizational commitment (affective, normative and continuance) in National Oil Corporation in Libya?5. Does Organizational culture (Clan, Market, hierarchy and adhocracy) have any effect on the relationship between transformational leadership style with job satisfaction in National Oil Corporation in Libya?6. Is there any relationship between organizational commitment (affective, normative and continuance) with job satisfaction in Natio nal Oil Corporation in Libya?1.4 Focus and Research ObjectivesThe overall objective of this study is to examine the role of leadership style in the National Oil Corporation in Libya. The specific objective in this study is to clarify the relationship between transformational leadership style with job satisfaction and organizational commitment while organizational culture is the mediate variable in the National Oil Corporation in Libya. The study expected to offer some useful information of leadership style in oil sector in Libya, and hopes that this useful information can help to contribute building knowledge and an understanding in this filed in National Oil Corporation in Libya.The breakdown of these objectives yields the following specific objectives1. To determine the nature of the relationship between transformational leadership style with organizational commitment (affective, normative and continuance) in National Oil Corporation in Libya.2. To determine the nature of the rela tionship between transformational leadership style with job satisfaction in National Oil Corporation in Libya.3. To determine the nature of the relationship between transformational leadership style with organizational culture (Clan, Market, hierarchy and adhocracy) in National Oil Corporation in Libya.4. To determine the effect of organizational culture (Clan, Market, hierarchy and adhocracy) on the relationship between transformational leadership style with organizational commitment (affective, normative and continuance) in National Oil Corporation in Libya.5. To determine the effect of organizational culture (Clan, Market, hierarchy and adhocracy) on the relationship between transformational leadership style with job satisfaction in National Oil Corporation in Libya.6. To determine the nature of the relationship between organizational commitment (affective, normative and continuance) with job satisfaction in National Oil Corporation in Libya.1.5 Rationale of StudyPrevious studies have examined the link between leadership paradigms and behaviors and have shown a positive relationship, none has explained the nature of this connection, and therefore, how and why leadership affects performance. Future research needs to address this deficiency. In sum, based on the above discussion, there are many problems and gaps in existing studies of the leadership performance relationship that need to be addressed before a clear enactment of this relationship can be drawn (Jing and Avery, 2008).Therefore, the aim of this study is to investigate the relationship between transformational leadership, organizational culture with job satisfaction and organizational commitment in the Notional Oil Corporation in Libya. Therefore, the topic of leadership is very important to the organization performance and the entire petroleum sector. Leaders can set the direction of the organization and it is very significance issue can lead the organization to achieve their goals.To do this stu dy in the Notional Oil Corporation in Libya because Libya is the one of the (OPEC) organization and this sector is very important which is like the backbone of Libyan economy. Therefore, organization culture influences organization performance and also the employees. Organization culture influence perceptions of employees towards investors of technology transfer. Additionally, try to add useful information to improve our knowledge for this field in Libya.1.6 Significance of StudyThis study is important for several reasons, to make a positive view of transformational leadership style in the National Oil Corporation in Libya. To clarify the problems and barriers encountered in application of transformational leadership style programs in the National Oil Corporation in Libya in the context to the case included in this study.In addition, to clarify the role of leadership to improve organization performance in the National Oil Corporation in Libya and to what extent this leadership succe eded to achieve organizations goals. On the other hand, this study is an attempt to participate in and contribute to research resulting in knowledge increases. Assist scholars, and other researches in leadership field.The researcher achieved that the leadership style and organizational culture play a significant role to effect organizational commitment and job satisfaction in National Oil Corporation in Libya. In particular, how transformational leadership style and organizational culture can impact organizational commitment and job satisfaction in National Oil Corporation in Libya. Finally, the researcher achieved the nature of the relationship between all these concepts such as transformational leadership style, organizational culture, job satisfaction and organizational commitment in National Oil Corporation in Libya.1.7 Definition of Terms1.7.1 LeadershipLeadership, like most other concepts in social sciences, has no hotshot or unique definition. It has been defined differently by different authors. Leadership is defined as the process of influencing employees to work toward the achievement of objectives. While others defined leadership as a management function, which is mostly directed towards people and social interaction, as well as the process of influencing people so that they will achieve the goals of the organization.1.7.2 Leadership StyleLeadership style is the way to understand why leaders, faced with seemingly identical situations, use such different decision processes. Leadership style can be viewed as a series of managerial attitudes, behaviors, characteristics and skills based on individual and organizational values, leadership interests and reliability of employees in different situations. In the other meaning, it is the ability of a leader to influence subordinates to performing at their highest capability.1.7.3 Transformational leadershipTransformational leadership is grooms followers into future leaders by well-favored them freedom to co ntrol their behavior, elevates followers concerns from physical to psychological needs

Nuclear Power As A Green Energy Source Environmental Sciences Essay

atomic Power As A Green Energy Source Environmental Sciences EssayIn todays society, nuclear nonhing is a high pauperismed source of readiness. It earmarks electricity to households and businesses with electricity efficiently for it to be able to run. It is viewed by various political and non political groups as hazardous, threat to climate change much(prenominal) as global warming, and not a sustainable source of energy. Their view of producing electricity and other sources energy is to be crapd from renewable sources such as wind turbines and solar actor. legion(predicate) researchers argue that the threat to environment from the production of nuclear energy is not the case and in situation slight nocent to the globe and produces little reverse lightninghouse gases (Dawson 2003, 34), nigh like to see that nuclear energy has a zero carbon emission. Nuclear energy is viewed as a cost effective way of producing electricity compared to coal burning which was seen to b e expensive and enormous threat to the environment.1.1 PurposeThe purpose of this track is to pass on whether or not nuclear great origin hatful indeed be seen as a green and sustainable green source of energy.1.2 ScopeThis report considers what nuclear power is, the early energy demand in relation to global warming, the advantages of nuclear energy, disadvantages of nuclear energy such as the effects of the environment, whether it cannister be seen as a green solution in producing energy, and a sustainable source of energy.1.3 Sources and MethodsInformation was collected from books, scholarly journal articles, green peacefulness and greenies internet website.Nuclear PowerNuclear power is energy that is produced for the purpose of proving electricity for domestic, industrial, and other industry use (Hodgson 1999, 51). The pedal of producing energy involves mining the uracil ores, converting for arouse, enrichment, fabrication, the production of a power plant, operating, uranium processing, and waste disposal (Fthenakis and Kim 2006, 2552 Lillington 2009, 94). It is made up of a material called uranium which goes through a number of processes until is it well-endowed inside open fire rods. These fuel rods are then used to produce heat and steam which allows the nuclear reactor to produce energy (Fthenakis and Kim 2006, 2552). Nuclear power is seen as a hazardous process of producing electricity (Hultman 2008, 41 Greenpeace. 2010 The Greens 2010). Others view as a way of strategy to reduce greenhouse gases (Pasztor 1991, 98) and providing economic stability (Green 2008, 15). As mentioned before, environmental groups such as Greenpeace and political parties for example the Australian Greens party have fought against organisations in the matter of nuclear power and have accusing them of being the main problem for global warming. moreover society heavily relies on nuclear power and sees this as a demand or simply a necessity for them to use in their daily lives. Nuclear power is easy to produce, it can provide a large run of electricity nuclear power and sees this as a demand or simply a necessity for them to use in their daily lives. Nuclear power is easy to produce, it can provide a large supply of electricity nuclear power and sees this as a demand or simply a necessity for them to use in their daily lives. Nuclear power is easy to produce it can provide a large supply of electricity, and is very efficient if providing the demand for electricity (Sovacool 2008, 3). The use of renewable sources of energy from solar and wind would not be enough to provide energy to a house. In fact it cannot power two 60 watt light bulbs for a whole day.Future Energy DemandNuclear power is considered to be a future energy demand in terms of carbon emissions which is related to global warming (Pasztor 1991, 105 Kessides 2009, 323). With the high demand for electricity to modify living standards, many countries are still constructing and oper ating nuclear plants to generate nuclear energy (Pasztor 1991, 105 Green 2008, 15 Hodgson 1999, 119). This is out-of-pocket to incr residuum of population, a rise in incomes in countries which develop increases the energy demand. During 2008, the United States had approved another 30 reactors to be built (Green 2008, 15). Countries such as Germany, France, and Japan have made investments to meliorate their processing activities in which this allow for result in lower quantities of plutonium and uranium needed to generate nuclear power (Pasztor 1991, 103). As of 2005, there were twenty dollar bill countries that depended on nuclear energy for the use of electricity. It is seen as a dependable source of energy that has no emission of carbon. This also includes the stage during the processing with fogy fuels (Lorenzini 2005, 33). In the context of global warming, research conducted by the Massachusetts Institute of Technology (MIT) show that nuclear power should be retained because it is seen as a production of energy that is carbon free (Dawson 2003, 34).AdvantagesLooking at the element Uranium, one pound of it contains the same energy of one millions of coal (Lorenzini 2005, 33). This means little mining activity for Uranium and requiring less energy. It is seen as been a low carbon emitter, according to Pasztor (1991, 98) it can be considered as an alternative source of energy in greenhouse gas reduction strategies. During the production of nuclear energy it is show that small amounts of air pollution along with acidic gases are created during the burning stage of the fossil fuels (Pasztor 1991, 98). It which this can be a better alternative for producing electricity then coal. However according to Mortimer (1991, 76) nuclear power is found to stick out less than its advocates imply. This is when its looked more into it. Again we can also take into account Jan Murray who represented the Uranium Institute who supports the fact the carbon dioxide is not pr oduced by nuclear power (Mortimer 1991, 76). The sustainable development commission mentions that the production of nuclear energy can be seen as a low carbon emission (Kennedy 2007, 3710). Many organisations are currently investing in improved nuclear energy production which can be seen as a positive view, in which this will lead to a decrease in carbon emission (Kennedy 2007, 3710). Building more nuclear plants can see a reduction of gas consumption. At times when there is a shortage, large industries can take advantage of the reduction of gas for their benefit. This means a low impact on the environment, this leads to thriftiness energy and requiring less mining, transport, and exploration (Kennedy 2007, 3711). When it comes to nuclear waste, the coal waste is seen to be more hazardous. It includes been hazardous to the environment and to our health. However nuclear power is less revileful and better for the environment (Lorenzini 2005, 34).DisadvantagesFor nuclear power to be produced, first a nuclear station needs to be constructed. Constructing requires concrete, aluminium, steel, diesel to operate machinery, and copper. In which they do require a large amount of it (Fthenakis and Kim 2007, 2553). The materials required for the construction is gathered from principally mining activities. In which it is seen that mining does play a role in environmental pollution and emission of greenhouse gases (Kennedy 2007, 3711). As from 2006 cost analysis report, it is estimated to cost 2.8 billion pounds to construct a plant (Kennedy 2007, 3708). The use of Uranium to fuel the nuclear power plant are seen as highly radioactive, fuel is either disposed or reprocessed in storage casks or in pools. However the United States as having the majority of pants in the world ( ), it does not consider reprocessing fuels. Some claim to have less emission and not a contributor to global warming (Mortimer 1991, 76). However during the enrichment, operation, and production stag es of the nuclear cycle. It requires a lot of energy in order for the stages to function (Fthenakis and Kim 2007, 2553). The end of the life cycle is still accounted for greenhouse pollution. All power stations and industries that relate to it have an effect on the environment (Hodgson 1999, 117). These effects are seen as a huge impact on our health and landscape that is used for mining which can lead to destruction to the land (Hodgson 1991, 119). As mentioned before, we produce more energy to improve our living, but pollution is produced during the cycle of the nuclear power which brings our living of standard down (Hodgson 1991, 119). Generation of nuclear power produces waste which is dangerous and seen as a global problem. Usually wastes are buried underground and has a mass effect to the earth. Care is not usually taken (Hodgson 1991, 123) in which the effect of irradiation pollution can occur.6.1 Chernobyl and Three Mile IslandLooking at the Chernobyl and the Three Mile Isl and incident (Greenpeace International 2010) these incidents lead a huge contamination to the wet supply and cause of deaths in Ukraine due to radioactive pollution. The people of Ukraine have also suffered from birth defects and other cancerous illness due to the proper direction not taken into place (Adamantiades and Kessides 2009, 5160).Green EnergyThe question is raised earlier one is whether nuclear power can be seen as green source of energy. The world has witnessed tragic incidents such as the Chernobyl and Hiroshima in which nuclear power had made a huge effect to the globe (Tilson 1996, 63 Damian 1992, 597). To some certain areas, it can be considered as a green source of energy. Adamantiades and Kessides (2009, 5151) mention that nuclear power has shown that it can avoid effects of fossil fuel pollutants. Eliminating coal and replacing with uranium would put less harm to the environment and lower the greenhouse gas emissions. The more nuclear power used to produce energy can help to reduce the use of such minerals such as lignite, hard coal, and oil. As these minerals are harmful for the environment it would mean less used in exchange for nuclear power. Lorenzini mentions that nuclear power is better for the environment and health compared to other minerals such as coal (Lorenzini 2005, 34). However political groups such as The Australian Greens Party argue that nuclear power is not a solution to reducing greenhouse gas emissions (The Australian Greens 2010). Also Greenpeace international claims that the use of nuclear power is a risk to humanity and the environment (Greenpeace International 2010) but Lorenzini (2005, 38) argues that the goals of nuclear power is ease the pressure on land use along with the environmental problems thats occur and eliminate emissions that contribute to climate change and human health issues. The debate on whether nuclear power is green is difficult to answer as the positives views are equal to the negative views.Sust ainable EnergyThe question whether nuclear power can be seen as sustainable source of energy has been. As Lorenzini mentions (2005, 36) sustainability of nuclear power depends on an adequate approach to nuclear waste. This is often difficult due to the difficulties in looking for a suitable site for waste to be deposed. However the nuclear industry has faced this problem of waste disposal on whether it should disposed or reprocessed (Adamantiades and Kessides 2009, 5166). Nuclear waste is either placed in ceramic or glass containers and then taken to an appropriate area for disposal. out-of-pocket to the Hazardous radiation, Uranium needs to be disposed straight after electricity is produced to in order to have a less effect on the environment (Greenpeace 2010). This is five years after the power plant has cooled down the waste in its pool in order to prevent it from melting down. Nuclear power can seen as not been sustainable, due to the fact that there is no way safe way of dispo sing it.ConclusionTo conclude this report, we have mainly identified the advantages and disadvantages of nuclear power in todays society. A lot of improvements have been made on nuclear power in terms of its performance and harm to the environment. We can see that nuclear energy is a step to been green and is replacing use of coal to provide electricity. However nuclear power is not a sustainable source of energy. As it is difficult to find storage places and the effect it has on the environment once its transferred for cooling. Many groups such as The Australian Greens Party and Greenpeace International are totally against this measure and see this as burden to the environment and to our health. But one question that is raised is that why that is these groups target nuclear power when other sources of generators such as coal are heavily used to provide electricity. Overall nuclear power is a source of energy that we heavily depend on (Sovacool 2008, 2). Renewable sources of energy from solar and wind need to be improved in order to provide the required amount of electricity that a household would require.

Concepts of Gender and Mathematics

Concepts of Gender and MathematicsIntroductionIn 1896 Charles Darwin wroteThe chief distinction in the intellectual powers of the two sexes is shewn by the mans attaining to a higher eminence, in whatever he bucks up, than discharge wowork force.if men argon cap fitting of a decided pre-eminence over women in many subjects the average amiable power of a man must be above that of women. (Darwin see Walkerdine, 1989, p. 1)After many years of social change we would expect these learns on women to turn over changed. Indeed, it is not common to hear that, mentally, men atomic number 18 better than women, as women befuddle proved themselves to be retributory as capable. Take Carol Vorderman for example, in my opinion the about famous female mathematician that I know. She is so good at mental arithmetic that she co-hosted Countdown for 26 years (Vorderman, WWW). However, math is still perceived as a male dominated subject and it is no wonder that women believe they ar inferior to men at mathematics. Even though this story is meant to be a statistical statement, many women interpret it to mean they cannot do mathematics, having a distressing effect on individuals (Gray, 1996, p. 27). Walkerdine states thatWomen, after all, are clearly irrational, unlogical and too close to their emotions to be good at mathematics. Or so the story goes. (Walkerdine, 1989, p. 1)If definite passel actually take on this opinion that girls are lacking in mathematical ability (Walkerdine, 1989), how are girls supposed to cook the confidence to believe they can do mathematics, when girls report less confidence in their mathematical ability until now when the girls achieve at the same level of boys? (Fennema see Orlich et al, 2007, p. 52). It is suggested in Burton (1990) that boys are getting to a greater extent encouragement and praise in the classroom than girls, which builds a lack of confidence causing a negative effect on the girls ability to learn (Burton, 1990). In th is essay I bequeath try and address the biological reasoning behind why girls cant do maths and consult this to the ways in which girls learn.The BiologyThere are two hemispheres to the brain, the left and skilful. These are specialised, to some extent, to perform several(predicate) tasks. People commonly stick a preference to one or the other, although certain people are whole brained in their opinion, and therefore fetch just as well in either (Funderstanding, WWW).Abigail Norfleet James (2009) has researched into brain differences in boys and girls. She build that lyric functions and the memory of certain nouns are lateralized to the left hemisphere, whereas mathematical performance and memory of pictures and topography are lateralized to the refine hemisphere. Not all did she find differences in the left and right brain, she also researched into certain parts of the brain which help us to learn mathematics using memory and emotions (Norfleet James, 2009). The hippoca mpus, located inside the medial temporal lobe, plays an chief(prenominal) part in yearn term memory and spatial navigation (Hippocampus, WWW). The Amygdala, which is also found deep in the medial temporal lobe, performs a elemental role in the processing of memory and emotional reactions (Amygdala, WWW). The research showed that as the hippocampus and the left side of the brain develops faster in girls, they excel in language, verbalising and working through situations logically. The right side of the brain and the Amygdala develops faster in boys, so their mathematical calculations and performance are prominent in their larn (Norfleet James, 2009).To oversimplify a complex issue, the left hemisphere in most humans is primarily concerned with language based behaviour and with the cognitive acquisitions we force crudely characterize as analytical or logical. It has manufacture apparent recently that the right hemisphere is far superior to the left in most visual and spatial ab ilities (Davies and Hersh, 1995, p. 346)If we witness at certain traits from the opposite sides of the brain, we can see that the left brain is notorious for being analytical and sequential, rational and thinking objectively where as the right side is identified with spatial intelligence, thinking randomly and using an intuitive approach to situations (Funderstanding, WWW). Research suggests that the male brain holds an favour with making quick decisions from lists where as the female brain works inductively and needs much more information to make that same decision (Gurian et al, 2001). It can be said therefore, that women are more inclined to think in a left brained way and men, a right brained way. As a result of this boys lean to have significantly better spatial skills and find visualizing abstract objects easier. When it comes to learning maths we need to use the whole brain the left and right hemispheres and the window dressing lobe (Gurian et al, 2001, p. 51). uncreated and Secondary Schools tend to have more female than male teachers (Statistics, WWW). In my opinion, female teachers are more likely to teach using the traits found in the left side of the brain as this is what they naturally excel at. This could possibly be seen as the preferred way of teaching as the traits united to the right side of the brain are usually connected with impulsive actions and general disruption in class (Gurian et al, 2001). In schools, educatees are taught to think in a successive way, where they build on previous knowledge. They are taught logical steps, which gives a rule they then apply to a question to gain an answer. If, however, the student comes across a problem they have not faced before, they may lack the intuitive skills that would allow them to solve this particular, difficult problem. This method of teaching is some fourth dimensions seen as being biased towards the female way of learning, as it develops the skills which girls are already, naturall y gifted with. However, to arena maths to a higher level, rules and methods can only get you so far. The right hand side of the brain allows you to look at problems as a whole rather than in individual, single steps. As boys naturally develop this part of their brains, they are already able to think subjectively (to relate their problems to personal experiences or previous challenges they have faced), a skill girls have to learn. Thus, with the schooling system developing the boys left hemispheres, they are capable of answering much more difficult, unseen questions, which may require more than just the taught rules.Girls are generally left brained and are therefore disadvantaged, as they are educated to think in one way, their right hemisphere being overlooked. The right brained boys, however, are taught these left brained skills, and coupled with their natural way of thinking allows them to be whole brained and much more efficient at the more difficult maths problems. (Fennema L eder, 1990 Gurian et al, 2001 Norfleet James, 2009)If schools are focusing on a certain method which disadvantages either girls or boys in ways of their brain functions, are they also biased in the way they are teaching, with regards to how boys and girls learn?Learning StylesAlong with having a stronger side of the brain, girls are also inclined to use their minds in a specific way. This is usually related to the way they think. Research has shown that there are two types of reasoning abstract and concrete. Abstract isnot seeing or touching the thing and in so far still being able to calculate it. For example, when mathematics is taught on a blackboard, boys often do better at it than girls. (Gurian et al, 2001, p. 45).If information was to be taken from the blackboard and put onto, for instance, number lines, which are inevitably more concrete, girls tend to thrive. For girls to understand the more abstract parts of maths, for example geometry, they must bring these aspects to li fe. In Primary School learning, the idea of Logo (a computerised turtle which moves round the screen following directions) makes the abstract ideas of direction and angles mother more concrete. In fact many IT programs use in the classroom have been designed to give a concrete illustration of an abstract idea (Skrimshaw, 1993).Furthermore, people have a predisposition to relate to a particular learning strategy. It has been suggested that girls tend to conform to the serialist, or analytic, model of thinking (Clark and Millard, 1998). These are one step at a time learners (Scott-Hodgetts, 1986, p. 68) who work through problems methodically, leading to instrumental understanding. In an article on the different types of understanding, Skemp (1976) described instrumental as rules without reasons. What he did not realise was, that for many the self-denial of such a rule and the ability to use it, is what they mean by understanding (Skemp, 1976, p. 2).Aside from serialistic understandi ng we have the holistic, or intuitive, model of thinking. Scott-Hodgetts claimed that holists like to take an exploratory way, working first towards an understanding of an overall framework (Scott-Hodgetts, 1986, p. 68). The approach that holists take of looking at the whole framework and then filling in the gaps is a way of relational understanding, not only knowing which method works, but why. So although it may take longer for a pupil to become a relational learner, as there is more content, it is never the less, easier, for the holist thinker to then adapt this method and apply it to unknown problems (Skemp, 1976). This is seen as the preferable method to learning as it allows students to link together different concepts of mathematics. Research shows that boys coincide with this manner of thinking (Clark and Millard, 1998).A lucky few tend to be able to switch between both the holist and the serialist approach. These students are called versatile learners. In higher level mathe matics it becomes in truth important to be able to switch your view point, from looking at a problem analytically to globally, in order to see the problem as a whole. pupils are expected to do more than simply reproduce items of knowledge, as they have been taught. They must, for example, also be able to restructure bodies of knowledge in ways appropriate to different problems a difficult task for the serialists because of their inclination to learn sequentially, without necessarily forming an overall picture of the relationships involved. whilst holists are busy speculating about relationships, and discovering the connections between initially disjoint areas of mathematics, it may not even occur to serialists to begin to look for such links. (Scott-Hodgetts, 1986, p. 73)If you are capable therefore of using both of these techniques then surely you gain great advantage over your fellow workers?There are a few issues regarding these learning strategies. In Primary schools, students should havethe freedom to develop their ideas using their preferred learning strategies, however, teachers do sometimes impose their own strategies upon pupils (Scott-Hodgetts, 1986, p. 70).I believe at such a young age, it is easier for the teacher to teach rules and for the pupil to learn these, even if they have no understanding of them. Take long multiplication for example. I was taught a step by step procedure which gave me an answer. At this age I had in truth little idea about why we added a zero at the end of the second line of computation, or why we carried a one I was just told that is how it is done. This method of learning, remembering and applying, confirms to serialists that this approach is best and leads to success. Even in Secondary school it is known that teacher exposition tends to be serialistic in bolt (Scott-Hodgetts, 1986, p. 70),Scott-Hodgetts (1986) claims that children who are predisposed to a serialist approach are less likely to become versatile learner s than those who think more holistically, purely because of the way that they have been taught (Scott-Hodgetts, 1986). However, it has been observe that if serialists are exposed to a holistic style of teaching they are just as capable of gaining the same understanding, at the time, as the holists. Although, Pask and Scott, claim that in the long term, such teaching has a genuine effect on reducing efficiency(Pask and Scott see Scott-Hodgetts, 1986, p.72). This inconsistency of teaching styles could explain why certain pupils are capable of working well in class, but then not performing well in mathematics examinations. (Scott-Hodgetts, 1986)At the same time that serialists are convincing themselves that learning and remembering their method is the way to gain the top grades, holistic learners will be shown the effectiveness of a different strategy. They have then begun to be a versatile learner before they stir secondary education.ConclusionAfter looking at the brain and the mind in relation to learning mathematics, I feel that it is not that girls cannot do maths, on the contrary girls have many skills that would make them adept at the subject, it is more that girls are not taught the right techniques, which would broaden their minds when it comes to tackling harder mathematical problems. I believe that if girls were taught in a holistic way they would, like the boys, learn how to look at problems as a whole and become more proficient at their mathematics. However, as Pask and Scott (see Scott-Hodgetts, 1986) pointed out, mixing learning techniques can become a disadvantage in the long run to the serialistic learners. But if Holists are able to learn from a serialistic point of view, why cant serialist learn from a holistic point of view? sure enough this would increase the number of versatile learners?Drawing on my own experiences as a woman, if I look at the skills I have developed to reach my current level in mathematics, I know that I have mandatory t o be analytical in most of the problems I have encountered, as well as being able to observe the problem in full. Surprisingly, being able to think randomly as well as logically can sometimes help to solve the most difficult problems. Evidence shows that even though boys are more naturally intuitive and seem to have many of the skills needed in progressing in mathematics, girls are analytical and sequential which are evidently needed for mathematics. The natural abilities that most girls seem to inherit are the key components when first learning maths. It is only the boys ability to understand this new way of learning, which automatically makes them versatile learners, that gives them the edge over girls. Being able to look at problems analytically and form an algorithm to obtain an answer is vital to any problem solving subject, and therefore it is easy to see why girls can enjoy, and can be good at mathematics. We can see from the following statistics that boys excel when the math s becomes more complicated. In Teresa Smarts article on Gender and math in England and Wales she explains that even though there are fewer boys than girls taking GCSE mathematics, more boys continue maths on to A-Level. Only 35% of pupils taking A-Level in 1992 were girls, which shows that the percentage of girls analyseing mathematics decreases as the level of mathematics increases (Smart, T. 1996). This reiterates that girls can do maths they are just not taught the necessary skills which are needed to continue the subject to A-Level or even university.However, in researching this topic I found that it is not only our brain or the way we learn which causes us to think we, as girls, are not capable at maths, but also society and the perception they have on girls and mathematics. Until recently girls have very much been considered for different jobs than boys. Careers advice to girls in the fifth form in the 1980s was based on retail and clerical types of employment (Burton, 1986 ). If girls were adamant that they wanted to study what was considered to be a more male subject, they were expected to achieve higher grades or in some cases, not considered for the jobs at all. In fact, one fifth form girl, in which the section of Burtons book is written, was told by her interviewer that he discouraged women from taking opportunities which would better their career (taking day-release) as they tend to leave and have babies (Burton, 1986). In todays job market women are considered equal to men, however, I feel, it will take a few years before we see equal numbers of women and men in male dominated occupations.It is also important to point out that the content of this essay relates to the general assumption of boys and girls. I know myself, that after all-encompassing research I would consider myself to be a holistic thinker, contrary to what the research suggests I should be as a girl. Does this mean that those female students who study university mathematics and indeed go further, think in a more male way, or are they just fortunate enough to have become versatile learners despite what they have been taught at school?The statement Girls cant do Maths Myth or Fact, could be argued to be both allegory and fact. We have seen that girls are less likely to be better at maths biologically but if our teaching system was different would we gain different results?

Freedom of Cyber-Speech -- Internet Censorship Essay

Freedom of Cyber-Speech Freedom of speech has always been an important issue in Ameri plenty society. With the orgasm of the Internet as a high-speed communication device, this issue has become even more prominent in recent years. This paper will research the issue of whether the Internet should be censored. Additionally, it will enquire possible methods for undertaking this censorship. Since 1787, the Constitution has been integral part of American society. The first of all Amendment to the Constitution, passed in 1791, reads Congress shall begin no law respecting an establishment of religion, or prohibiting the free exercise thereof or abridging the freedom of speech, or of the press or the right of the people pacifically to assemble, and to petition the Government for a redress of grievances. 1 For two hundred years, this amendment has been tested in many different ways. Over the years, the government passed many laws that did, in fact, expurgate the freedom of speech f or a variety of reasons. Now, new technology appears to be giving the government another issue in which it must decide if it should go against the literal interpretation of the Constitution. This paper will show how content on the Internet can be seen as dangerous, and if it should be censored. It will then investigate what strategies are being used to censor it. The Internet has provided a new and very powerful communication tool for Americans over the past several years. With the Internet, ideas can be transferred faster than ever before. Countless benefits have arisen with the development of the Internet, including powerful research resources, on-line shopping, and more. However, with ... ...ier Foundation. 10/17/99. http//www.eff.org/EFFdocs/about_eff.htmlmission - An introduction to the EFF 6 First Amendment and Free Expression. Center for Democratic Technology. 10/17/99. http//www.cdt.org/speech/ An introduction to the CDT 7 The Freedom assembly Online. The Freedom Forum. 1 0/19/99. http//www.freedomforum.org - An introduction to the Freedom Forum 8 The Free Expression Network The Free Expression Network. .http//www.freeexpression.org - An introduction to the Free Expression Network 9 United States Supreme Court. Schenck v. United States. 1919. 10United States Congress. Title V - course of study Obscenity and Violence. 1995. 11 Baase, Sarah. Gift of Fire. New Jersey Prentice-Hall, Inc. 1997. 12 GetNetWise. GetNetWise. 10/17/99. www.getnetwise.com - A tool for obtaining web-filtering software.

For this piece of coursework, I am going to compare two Poems produced :: English Literature

For this piece of coursework, I am going to compare two Poems produced by Simon Armitage.For this piece of coursework, I am going to compare two Poems producedby Simon Armitage. His website has quoted that he is one of the mostexciting younger poets that combines accessible humor and realiststyle with critical significance and has been bunco listed for theWhitbread Prize, TS Eliot Prize and Forward Prize. When he jumpedgenres, the critics moan about his first novel Little Green Man (2001)for its lack of poeticism he said he in force(p) wanted to tell a story,but the Guardian saw this tale of adult men trapped in childhood gamesas a piece of low-key, frill-free lad-lit.About his person is a poem about a dead man who has been discovered.The title of the poem gives a sense that someone has written him, suchas a Police officers report. The form of layout is in 10 two-linedstanzas called rhyming couplets. The poem starts off in an ordinaryway. It says Five pounds fifty in change, exact ly. A library card onits date of expiry. He had a postcard stamped but it wasnt sent tothe person he was sending it to. The boy slashed was used and thisshowed violence. It also showed that he was writing something quicklywhen the poem states A pocket sized diary slashed with a pencil From bump into 24th to 1st of April, something happened during that period oftime and we dont know what it is. This makes us wonder in suspicion,what it was about. In his hand there is a piece of paper with his receivehandwriting on it A final demand, in his own hand and this suggeststhat it could be his bill order which is unpaid. It is not told whatis exactly meant but I get into so.On the 6th stanza it says there was a rolled up note of explanationsprayed like a carnation. This gives us a hint that he commit tosuicide. The words explanation and carnation both rhyme like asimile. It gives emotion to the poem from feeling sad about hisdeath. He also had bullheadedness of a photograph that was in the shape ofa heart. This has given a hint why he has committed suicide maybebecause he garbled a loved one. For example his wife, who would beimportant to him. No gold or silver, but crowning one finger statesthat he had a wedlock ring and this links up to the previous stanzathat he was married.