7 Habits of Highly Effective People - Book Report Essay

My name is ********* and I am a 35-year old single mother of a 13-year old son. I am currently employed as a School Secretary for the **********. I started working at ******* on October 23, 2006. However, I have been employed for ******* since May 1, 1995. Since 1995, I have held numerous positions for ******* such as Clerk, Recreation Leader, Teen Coordinator, Project Coordinator and Cheerleading Coach. In my current position as School Secretary, my job duties include: daily attendance, answering telephones, copying, filing, greeting and assisting students, staff and visitors who come into the school office, filling teacher supply orders, student transportation and other duties as assigned by the administrators. In â€Å"The 7 Habits of†¦show more content†¦Time management is a crucial concern for positive outcomes. We have to be aware of what needs to be focused on in our lives and be able to focus on it. We need to be able to look into the future. We need to realize what needs to be done now to affect the future. We also should look at the present. We should monitor ourselves and understand how to implement the things needed for our personal wants and goal outcomes. Put First Things First appears to be the very implementation tool for setting the first two habits into action. Personally, the ideas presented in this chapter are very helpful in my present situation. Covey helps me better understand the consequences that each of my actions can lead to. He gives creative and ingenious ideas that can lead to a better and more effective me. I currently am using and will continue to use the great management schemes presented in this chapter. Habit 4 – Think Win/Win The fourth habit begins the first habit of the public victory portion. Here we learn how to have more open public bettering of ourselves. Win/Win describes how we need to focus not just on ourselves but on the team we are playing with. Many people focus too much on themselves. What they look at is if they have won or lost. They don’t look at the big; overall picture of what has happened as a result of their actions. If we win, does this mean that someone or something has lost manyShow MoreRelatedThe 7 Habits of Highly Effective People, authored by Steven Covey Book report in APA format1160 Words   |  5 PagesThe 7 Habits of Highly Effective People Stephen Covey authored the book, The 7 Habits of Highly Effective People, to offer his expert, professional, and personal insight of seven habits, or traits, exhibited by effective people. While outlining the seven habits, he emphasizes that each previous habit is the building block for the next. He also shows how all the habits are tied together to effectively transition through the growth stages of dependence to independence to interdependence to becomeRead MoreThe Habits Of Highly Effective People By Stephen R. Covey Essay1858 Words   |  8 Pages7 Habits of Highly Effective People by Stephen R. Covey When I went through professor’s required book list, I recognized the book, 7 Habits of Highly Effective People, at my first glance. I do remember that I read its Chinese version which was a present from my grandfather almost ten years ago when I was a teenager. Shortly after feeling excited, I was a little embarrassed because I barely remember the 7 habits. Now as an adult almost a decade later, after finished the book, the original work,Read MoreThe Habits Of Highly Effective People1283 Words   |  6 Pages7 Habits of Highly Effective People: Powerful Lessons in Personal Change Covey, Stephen R. New York: Simon Schuster, 1989 Andrew R. Sweeney Psychology of Adjustment Introduction I work full-time at Dollywood, and attend Walters State, soon to graduate with an Associates in Psychology. I already have a Bachelors Degree in Physics Mathematics from Carson-Newman University and have recently been admitted to ETSU in the Fall and will enter a Masters program in Mathematical Sciences. At ETSU I willRead MoreStephen Covey 7 Habits1529 Words   |  7 PagesQ1-Q2 Q1:Write a report to explain the 7 habits by Stephen Covey? The 7 Habits of Highly Effective Capture Managers * Habit -1 - Be Proactive in Taking Responsibility for the Capture   Ã¢â‚¬Å"If the problem is perceived as out there, then that thought is the problem.† - Stephen Covey * Be Proactive in Taking Responsibility for the Capture * Initiate Actions to Mobilize Resources in Response to Perceived Needs for the Capture * Develop IdeasRead MoreThe 7 Habits of Highly Effective People Essay1001 Words   |  5 Pagesfor me. I suppose I am a victim of my generational upbringing, in that, I feel the need to be informed in an entertaining manner. This book has good information, but I had to continually check my focus. Those times when I was truly drawn in were the times when the writer was relating back to a story from his life or others and how it worked in to the particular habit he was teaching at that time. That being said, the following areas are where I believe I can use to make myself and my team better. Read MoreAre You a Good Communicator Essays1164 Words   |  5 Pagesemployment and experience in interview and investigation techniques will need to be utilized in working with others in the field of business development. Symptomatic signs of avoidance, disinterest in conversation, lack of social networks and hobbies. People become engulfed with pre occupation on how or what others think about them. I think I have spent more time in worrying about how other perceive the things I do rather than living a life of uninhibited speaking. Being able to communicate with outRead MoreHow Does Technology Influence the â€Å"Google Generation†?1616 Words   |  7 Pagesthe so-called â€Å"Google generation†, is being influenced in a negative way. So what is the actual meaning of â€Å"Google generation†? One of the common definitions is that â€Å"The â€Å"Google generation† is a popular phrase that refers to a generation of young people, born after 1993, growing up in a world dominated by the Internet† (Rowlands et al. 292). However, that definition is not definitely precise. Jim Ashling says, â€Å"Everyone is members of the Google generation. All age groups exhibit some Google-generationRead MoreThe Seven Habits Of Highly Effective People By Dr. Covey891 Words   |  4 PagesThe Seven Habits of Highly Effective People by Dr. Stephen Covey outlines seven behaviors of a successful leader. He called it Principle-Centered Leadership (2000, p. 13). The seven habits as described by Dr. Covey are: 1. Be proactive 2. Begin with the end in mind 3. Put first things first 4. Think win/win 5. Seek first to understand†¦ then to be understood 6. Synergize 7. Sharpen the Shaw The attached profile sheet reflects a panoramic view of my alignment to some of those principles. The sevenRead MoreBackward Design, a planning guide1555 Words   |  7 Pagesï » ¿ The concept of planning â€Å"backward† starting from desired results (the end in mind) is not new. In 1949 Ralph Tyler described this approach as an effective process for focusing instruction. Recently, Stephen Covey, in the bestselling book, Seven Habits of Highly Effective People, reports that effective people in various fields are goal-oriented and plan with the end in mind. Although not a new idea, the deliberate use of backward design for planning curriculum units and courses results inRead MoreExperiential Language Module On Indonesian1609 Words   |  7 Pageslanguage they are learning. No longer is the language some foreign entity preserved in text books, but a living language connected to real people and real experience somewhere in the real world. I presently play a similar game in my own language learning journeys. I have been admittedly addicted to a social networking app on my phone called, HelloTalk. It s specifically designed to connect a community of people who are simultaneously learning a language while teaching their own.   I am learning French

Plato on the Parthenon Essay - 905 Words

Plato on the Parthenon The philosophical ideas of Plato that relate to the Parthenon include whether the structure is an element of the Visible World or the Intelligible World. In my opinion, Plato would view the Parthenon as an object in the Visible World. The Parthenon is a one of a kind monument that is tangible and exists in our real world. The Parthenon is an architectural project and deals with forms of science and mathematics. Platos view of science and mathematics are categorized as forms in the Intelligible World, which are intangible. Through analysis of illusory tactics, the Tripartite Soul, the simile of the line, and the artistic qualities of architecture, Platos, as well as my view of the Parthenon will become†¦show more content†¦in architecture of the times. Several elements of the Parthenon follow nature-based models. The rectangular shape of The Parthenon was derived from the Golden Ratio of 5:8, which can be seen in some flowers and nautilus seashells. The drums of The Parthenon ?s columns also have natural characteristics. Their diameter is similar to the height of man. Plato?s view of compensation making The Parthenon ?less real? can be contradicted with the nature based models that were used to construct it. Plato?s view of Justice can be seen in his model of The Tripartite Soul. In this model Plato outlines 3 sectors of his ideal society. This theoretical society is composed of Guardians, Auxiliaries, and Producers. The Guardians were the upper class citizens who had the authority to pass judgment. Guardians were rational and wise, and could participate and become involved in politics. The Auxiliaries were positioned as courageous citizens who helped preserve the spirit and emotion of a society by ?protecting and serving? much like a modern day public works department or police and fire squad. In the lowest tier of Plato?s ideal society were the Producers, whose job it was to create. The Producers were to use temperance in their lives, for they were classified as appetitive souls who could easily succumb to bodily desires. The Producers were to practice asceticism, which is the eradication of bodily desires. Relating to The Parthenon, theShow MoreRelatedPlato on the Parthenon Essay928 Words   |  4 PagesThe philosophical ideas of Plato that relate to the Parthenon include whether the structure is an element of the Visible World or the Intelligible World. In my opinion, Plato would view the Parthenon as an object in the Visible World. The Parthenon is a one of a kind monument that is tangible and exists in our real world. The Parthenon is an architectural project and deals with forms of science and mathematics. Platos view of science and mathematics are categorized as forms in the IntelligibleRead MoreThe Parthenon Essay1464 Words   |  6 PagesThe Parthenon There are some historians that believe before the Parthenon began, Athens concluded a peace treaty with Persia in 449 BC. The Athenian Empire was at the height of its power when the work on the Parthenon began in 447 BC and continued until 432 BC. The Delian League/Athenian Empire continued to exist even after the reason for its existence ceased to be valid. It is now openly acknowledged that Athens was not just the head of the Greek defense league but an imperial master over otherRead MoreDifferences Between Cuneiform And Cuneiform1229 Words   |  5 PagesPantheon and The Parthenon? How did these structures manage to â€Å"withstand the test of time?† The Parthenon is a temple of Athena Parthenos on the Acropolis in Athens according to the Ancient Greece article The Parthenon and while the Pantheon is the best-preserved building from ancient Rome, the exact function is ambiguous as stated in the Ancient History Encyclopedia article Pantheon. The Pantheon has a large dome shape, while the Parthenon lacks a dome. Although the Parthenon has much damageRead MoreHow Did Ancient Greece Influence Western Civilization951 Words   |  4 PagesWithout the ancient Greeks, the modern world would not be the same. Men such as Socrates, Plato, and Aristotle changed the way we look at philosophy. The Athenians created the first known democracy, setting the stage for future governments. The Euclidian Theorem and the Pythagorean Theorem among others made mathematics easier and more developed. Even current architecture can be traced back to the Parthenon and other pieces of Greek architecture. The Olympics even started in ancient Greece, creatingRe ad MoreClassical Ideals : Ancient Athens1589 Words   |  7 Pagesthe Golden Age of sculpture and architecture. The quality of the architecture is amazing and we have been deriving most of our buildings in our country from the Athens. Some of the most recognizable architecture from the Athens includes the Parthenon. The Parthenon is famous for its architectural perfection and for the sculptural decoration that is carefully crafted in the structure (Sayre). This beautiful piece of art has a perfect union of harmony and overall sense of proportion and balance and itRead MoreDbq: Ancient Greek Contributions1467 Words   |  6 Pagestoday. It also give humans to used it in T.V. shows and movies that we have right now. Moreover, in .(doc. 10) The Parthenon is one of the most famous building in Athens. It was used to honor the Goddess of Athena. It was built at the command of Pericle. The building structure of The Parthenon has expanded architects aspect of designing buildings in the co mradeship today. Thus, The Parthenon has to be approached with many thoughts and ideas, it inspire humans today to use the same techniques as the GreeksRead MoreEssay about Ancient Athens1399 Words   |  6 PagesLater, Pericles was able to gain, â€Å"14 years of peace,† that allowed him to, â€Å"develop the splendor of Athens† (SOURCE 8). One of these buildings, or splendor, was the Parthenon. The Parthenon, â€Å"stood on a rocky hill called the Acropolis† and inside, â€Å"stood a statue of the city’s protector-goddess Athena† (SOURCE 3). The Parthenon was a major accomplishment by Pericles and is a major landmark of Athens. As time went on, the Toronto Star reports that, â€Å"†¦a great epidemic broke out in Athens thatRead MoreAncient Greek And Modern Western Civilization872 Words   |  4 PagesDemocratic and progresses from this time period have influenced politicians and governments and continue to do so today (Ancient Greek D emocracy). Greece was the home of many great philosophers; three of the most well-known philosophers are Socrates, Plato, and Aristotle. They are still considered a few of the most influential people who have ever lived, even over 2000 years after their deaths. Aristotle contributed to almost every field of knowledge and founded many new fields. In fact, he was the founderRead MoreThe Emergence Of Greek City, The Apology, And The Parthenon928 Words   |  4 Pagesused to be nothing. Ancient Greece has influenced many countries around the world. They have created some of the most influential things to humans everywhere. In this paper, I will be explain the emergence of Greek city-states, the Apology, and the Parthenon. All of which are very important to us today. A city-state by definition is a city that with its surrounding territory forms an independent state. Greek city-states began as poor farming communities. City-states formed because the landscaping ofRead MoreEssay on The Parthenon- A Culture in Itself1652 Words   |  7 PagesOne of the most impressive accomplishments of Ancient Greece is the remarkable structure of the Parthenon on the Acropolis. The Parthenon is one of the most inspiring works of architecture known to mankind. The project of the extraordinary Acropolis was taken on by one of the most influential leaders of history, Pericles. Pericles influenced not only the building of one of the grandest works but the example of democracy displayed by the Greeks. The architecture was unique for its time, it featured

Diversity in Workplace - 1483 Words

DIVERSITY: GROWTH AND IMPORTANCE OF MANAGING Harpreet Singh City University ABSTRACT: As companies are becoming more and more diverse it s becoming more and more important for companies to understand and manage it. The people of different background, races, religion creates diverse workforce. There is an importance of having diverse workforce to provide better performance. There are perspectives of managing the diverse workforce, which require organization leaders and managers of being responsible of attaining better diverse workforce. INTRODUCTION Diversity means differences, difference of age, sex, race, religion and culture etc. People with different demographic differences working in the†¦show more content†¦In short, they claim, diversity will be good for business. Research stated that the Canadian companies leading the way in the area of diversity management have discovered that by embracing the elements of ethnic and cultural diversity in their workforce they have enhanced their ability to understand and tap new markets, both within Canada and abroad. Research generated from a variety of fields predicts that important benefits will accrue from demographic heterogeneity in organizations by increasing the variance in perspectives and approaches to work that members of different identity groups can bring (e.g., Thomas and Ely, 1996). IMPORTANCE OF MANAGING DIVERSITY As the companies of today are getting more and more diverse, the need of managing the diverse workfare is increasing. All Countries specially USA and Canada are having more diverse workforce everyday. So it is becoming important for the companies manage the diversity to get better results out of employees. Research stated that Forward-thinking Canadian organizations have recognized that competing successfully in the new global marketplace requires more than the latest technology, most efficient production processes, or most innovative products. Canadian organizations competitive strength is increasingly contingent on human resources. Competing to win in the global economy will require an abilityShow MoreRelatedDiversity In The Workplace. . Diversity In The Workplace990 Words   |  4 PagesDiversity in the Workplace Diversity in the workplace is imperative even though some commentators argue that too much diversity can be negative. Diversity can lead to staff feeling ‘threatened or even annoyed by persons with views and backgrounds different from their own’ (Barsoux, Strebel and Manzoni, 2010). Instead of inclusivity, diversity can end up causing conflicts, as some staff are reluctant in changing their viewpoints and are less adaptable to change. The discourse relating to diversityRead MoreDiversity Of Diversity At The Workplace942 Words   |  4 PagesIn this week’s integrated article, review, I am focusing on diversity at the workplace. This is a topic very relevant and important for any organizations success. Diversity at the workplace refers to any characteristic that makes people different from one another. Today’s workforce is a diverse mix in terms of age, gender, ethnicity, generational attitudes. It is important for an organization to adopt diversity management practices to bring this diverse mix together into a stable productive unitRead MoreWorkplace Diversity And The Workplace853 Words   |  4 PagesWorkplace Diversity Many outstanding articles, books, journals and papers have been written regarding the topic of workforce diversity. Some are relatively short papers such as Diversity in the Workplace published by the University of Florida, and seek to provide the reader with a basic understanding of what is meant by workplace diversity, as well as the potential benefits to both employers and employees alike. Other resources can be significantly more in-depth and explore subtopics of workplaceRead MoreDiversity At Workplace Diversity Within The Workplace3281 Words   |  14 Pages1.0 Diversity at workplace Diversity is a very extensive subject and can be in any genre or class; it is difficult to categorize because of its complex nature. According to Res (2012), diversity can be represented as a variety of human aspects pertaining to different societies and cultures in the workforce or can be explained tolerating the differences. On the contrary, diversity is a quest of differences among human beings in safe, positive and nurturing surroundings and moves beyond simple toleranceRead MoreWorkplace Diversity Of The Workplace965 Words   |  4 PagesJob’s face many struggles and challenges each and every day. Workplace diversity is something which is being talked about the most here lately. Out breaks of minimum wage, sexualities, gender, and even your skin color affects what diversity a business would want. Within the business, the professional level is set pretty high due to the superior designers making us able to dress well fashioned. When people step into a business they do not want someone that is going to walk in with a t-shirt and gymRead MoreDiversity in the Workplace964 Words   |  4 PagesRunning head: DIVERSITY IN THE WORKPLACE Abstract Select (highlight) this text and then begin typing your abstract, which should be limited to one paragraph of not more than 120 words A Survey of Organizational Culture and its Effectiveness on Managing Diversity in the Workplace Diversity in the workplace is a relatively new concept that has been attracting considerable attention from the executives of most businesses. â€Å"Ongoing demographic trends (increasing percentages of African-AmericansRead MoreThe Diversity At The Workplace747 Words   |  3 PagesThomas (1992) entails the diversity at workplace in terms of all ancestry, ethnicity, age, gender, race, educational background, sexual orientation, marital status, religious belief, income, geographic location and work experience. The mobility in human resource trend is emerging within the competitive market that requires more strategic role on account of human resource management. Organizations may fall in dire consequences of outplaying by other competitors in strategic employment. Nowadays, workforceRead MoreDiversity in the Workplace1096 Words   |  5 PagesRunning head: DIVERSITY IN THE WORKPLACE Diversity in the Workplace Amber Barger ORG536 – Contemporary Business Writing and Communication Colorado State University –Global Campus Dr. Phillip Jackson November 26, 2013 DIVERSITY IN THE WORKPLACE As companies start to regain their footing after the recent economic downturn, 2 factors such as the rising number of immigrants, mergers of large corporations, the popular use of temporary workers and the increasing globalization of business,Read MoreDiversity in the Workplace714 Words   |  3 PagesDiversity in the Workplace Introduction Workplaces are becoming increasingly diverse, and this is a dynamic that is causing some tension between and among employees. What are the positives and negatives of diversity in the workplace? America is a place with a great diversity of cultures, but sometimes in the workplace cultural values can clash and this paper discusses the why and how of those issues. The Literature Why are workplaces becoming more diverse, and why does diversity in a companyRead MoreDiversity in the Workplace1465 Words   |  6 Pagesï » ¿ Diversity in the Workplace As stated in our book, workplace diversity is defined as â€Å"diversity at work means having a workface comprised of two or more groups of employees with various racial, ethic, gender, cultural, national origin, handicap, age, and religious backgrounds†. There are many positives and also negatives of diversity in the workplace. Some of the negatives from workplace diversity are stereotyping, discrimination, tokenism, ethnocentrism, and also gender- role stereotypes. Some

Essay on Benjamin Franklin - 577 Words

Benjamin Franklin Who was he? In reading the Benjamin Franklins Autobiography one can see the true character of a great man. But some may argue that this man, deep down inside, was not so great. Through out his book he touches on many aspects of his life. He lets the readers have a glimpse at what he was thinking and why he did things the way he did. Some critics do not agree that Franklin was such a noble man. They thought he might not have been telling his whole story, and that he was hiding a lot he had to offer. This paper will look at how one critic portrays Franklin--- Benjamin had no concern, really, for the immortal soul. He was too busy with the social man (292). This critic is D.H. Lawrence. In Lawrences piece he†¦show more content†¦At one point in his writings he says, â€Å"I admire him. I admire his sturdy courage first of all†¦I do not like him (293).† This is how a lot of critics and Americans have felt about Franklin. Yes, he might have helped us all out. Yes, he has made advancements for the good of the country. But was he out for making a buck? Lawrence then again in the next paragraph says, â€Å"Because, although I still believe that honesty is the best policy, I dislike policy†¦(293).† At this point in his piece, Lawrence is really reaching to disagree with everything Franklin says and stands for. The opinion of many might have been that Franklin as a harsh and cutthroat man, but isn’t that the way to get by in America? Is that why foreigners come to this great nation, the land of opportunity? In Franklin’s autobiography it says that he was a hard workingman. It said he would stay to all hours of the night to get things done. He would wake up in the morning and get to work early. This shows all his doubters that he really did care, and was really hard working. Who cares if he was selfish? Is that a crime? Well D.H. Lawrence, it’s not! Franklin carried himself with such dignity that he was proud of where he worked. Some nights he would cart a wheelbarrow full of papers home with him to work on deep into the night. Even if he might not have worked on those papers there, no one will ever know. Lawrence’s argument that Franklin was a greedyShow MoreRelatedThe Benjamin Franklin1357 Words   |  5 PagesBenjamin Franklin In our American history many figures have left their mark, and are remembered still today. Benjamin Franklin was as famous as any president, but yet never elected to public office. He was one of the nation’s revolutionary founding fathers of all time. Benjamin Franklin was a respected hero of America of many talents and accomplishments. First of all, Benjamin Franklin was born at Boston in 1706. He was the tenth sibling in the family. He was the son of a soap and candle maker.Read MoreThe Autobiography Of Benjamin Franklin1367 Words   |  6 PagesMatthew Matheny HIST 2020 A.P. Tammy Prater 23 November 2014 Benjamin Franklin The Autobiography of Benjamin Franklin is a detailed account of the illustrious experiences of Benjamin Franklin. Though the cultural differences in writing has changed since the 18th century one can learn a lot about one of America’s greatest forefathers through this book. It accounts for Franklin’s life when he was born January 17th, 1706 till the year 1757. Unfortunately, he died in 1790 and was never able to finishRead MoreBenjamin Franklin Essay1518 Words   |  7 Pagesï » ¿Susanna Dey 19 November 2011 Benjamin Franklin Say the name Benjamin Franklin and you may picture a chubby man with spectacles holding a kite during a lightening storm. Perhaps you picture him a older man with spectacles propped up on his nose standing in a great room full of distinguished gentlemen signing the Declaration of Independence. Both of these facts about Benjamin Franklins life would be true. However, there was so much more to Mr. Franklin. He was a diplomat, a statesmanRead More Benjamin Franklin Essay1954 Words   |  8 Pages Benjamin Franklin-Scientist and Inventor Benjamin Franklin has influenced American technology, and indirectly, lifestyles by using his proficiencies and intelligence to conduct numerous experiments, arrive at theories, and produce several inventions. Franklins scientific and analytical mind enabled him to generate many long lasting achievements which contributed to the development and refinement of modern technology. Few national heroes, including George Washington and ThomasRead MoreThe Autobiography By Benjamin Franklin1952 Words   |  8 PagesThe Autobiography In the autobiographical essay aptly entitled â€Å"The Autobiography† (1791) Benjamin Franklin, a writer, renowned inventor, and American founding father confides that he had made attempts in his youth at emulating Perfection through the apprehension and application of 13 traits: Temperance,Silence, Order, Resolution, Frugality, Industry, Sincerity, Justice, Moderation, Cleanliness, Tranquility, Chastity, and Humility. Enunciating his ideas by checking the aforementioned traits off theRead More Benjamin Franklin Essay1332 Words   |  6 PagesBenjamin Franklin was born on Milk Street in Boston on January 17th, 1706. His father was Josiah Franklin, a candle and soap maker. His mother was Abiah Folger and she was Josiahs second wife. Benjamin Franklin was the youngest son of 17 children. Benjamin attended Boston Latin School for two years but did not graduate because of lack of money; however he continued his education by reading great quantities. His parents wanted him to go i nto the church, however at age 10 his schooling ended and heRead MoreThe Birth Of Benjamin Franklin1014 Words   |  5 PagesIn January of 1706 the future of America was changed forever with the birth of Benjamin Franklin. Born in Boston, Massachusetts Ben was the son of Josiah Franklin and Abiah Folger, Ben was the youngest son of 17 children. Josiah was a soap maker and he wanted Benjamin to enter the clergy. Ben went to South Grammar School where he excelled, he even skipped a grade. Unfortunately with such a large family, Josiah was unable to afford the education that it took to become a clergyman. Ben only had theRead More Benjamin Franklin Essay990 Words   |  4 Pages Benjamin Franklin nbsp;nbsp;nbsp;nbsp;nbsp;Benjamin Franklin was a remarkably talented man. He started his career as a simple printer apprentice, but went far beyond the printers shop. He developed products that were far beyond the time. The Franklin stove for example, for cold winter nights and bifocal lenses for reading. Franklin tracked storm paths to help understand the wicked weather endured by the colonies. His study of electricity made him most famous for he was known around the worldRead MoreBenjamin Franklin Essay1741 Words   |  7 PagesWho was Benjamin Franklin? Probably not quite who we think he was. Yes, he was one of the Founding Fathers, the only one who put his name to all three of the founding documents of the United States: the Declaration of Independence, the Treaty of Peace with Great Britain, and the Constitution under which we still live. He may have become famous for his many sayings in praise of being industrious and frugal in one’s calling, but he left his own calling as a printer and retired from business at theRead MoreThe Autobiography Of Benjamin Franklin529 Words   |  3 PagesThe Autobiography of Benjamin Franklin by Benjamin Franklin has many things, but maybe more than anything else about Benjamin Franklin it explains about him being a politician, and there is no more reason to look out for an unbiased autobiography from Franklin than from any other politician. This Franklin is a persona, a conscious literary creatio n bestowed for our contention One of Franklin’s virtues is humbleness, and his humbleness comes out in the form of his book. His narrative is extremely

Week 5 Quizzes †Eco/Gm 561 Free Essays

Week 5 Quizzes ECO/GM 561 Your Results for: â€Å"Readiness Assessment Quiz†Print this page Site Title:Economics UOP custom CW Book Title:UOP-custom course for Economics Book Author:Case Summary of Results 100% Correct of 7 Scored items: 7 Correct: 100% 0 Incorrect: 0% More information about scoring ________________________________________ 1. GDP includes all transactions in which money or goods change hands. Your Answer:False ________________________________________ 2. We will write a custom essay sample on Week 5 Quizzes – Eco/Gm 561 or any similar topic only for you Order Now GDP is equal to the value of total sales in an economy. Your Answer:False _______________________________________ 3. I bought a record last year. I don’t like it any more and am going to sell it to my cousin for $2. This sale should be included in GDP. Your Answer:False ________________________________________ 4. Consumption, investment, government purchases, and net exports are the four components of total expenditures. Your Answer:True ________________________________________ 5. Households have all of their personal income to spend or save. Your Answer:False ________________________________________ 6. When economists calculate nominal GDP it means they are calculating GDP only approximately. Your Answer:False ________________________________________ 7. Per capital GDP is a country’s GDP divided by its population. Your Answer:True ________________________________________ Your Results for: â€Å"Readiness Assessment Quiz†Print this page Site Title:Economics UOP custom CW Book Title:UOP-custom course for Economics Summary of Results 100% Correct of 8 Scored items: 8 Correct: 100% 0 Incorrect: 0% More information about scoring ________________________________________ . The twin evils of macroeconomics are unemployment and inflation. Your Answer:True ________________________________________ 2. Recessions last six months. Anything longer is called a depression. Your Answer:False ________________________________________ 3. To be considered employed a person must be working for pay for at least 20 hours per week. Your Answer:False ________________________________________ 4. You need to be 14 years old to be considered part of the labor force. Your Answer:False ________________________________________ . A discouraged worker is not actually working. Your Answer:True ________________________________________ 6. People typically are unemployed for at least six months. Your Answer:False ________________________________________ 7. Recessions have a good side to them because they help reduce inflation. Your Answer:True ________________________________________ 8. The consumer price index is based on a bundle of goods and services purchased yearly by the typical urban consumer. Your Answer:False ________________________________________ How to cite Week 5 Quizzes – Eco/Gm 561, Papers

Option Pricing Equity Portfolio Management

Question: Calculate the option price using Blacks formula. We are in June 27, 2011. A sugar producer has 1, 120, 000 pounds of sugar to sell in October. He wants to hedge the risk of a price fall between September and December. He hesitates between selling October futures and buying the put option described in question 2. We assume the margin requirement is 10% of notional (it is calculated once and for all at the inception of the position). The position is cleared on a monthly basis and the maintenance margin is the same as initial margin requirement (hence, a margin call is triggered every time the account balance falls below the initial level). Calculate the dynamics of the margin account balance and the margin calls between June and October 2011. Explain the possible problem for the sugar producer. Compare the final selling prices for the sugar producer in October 2011 if he does not hedge, if he hedges with futures contracts and if he hedges with a put option (we assume the final spot price in October is 24.84 cents per pound). Imagine again we are in June 27, 2011 but we dont know the final outcome in October. Calculate the minimal selling price secured when the producer buys the put. Plot the sugar selling price in terms of final Oct price (assumed unknown) within the 3 alternative strategies. Comment briefly on the pros and cons of the three strategies. Answer: According to (Collins and Fabozzi 1999, p.64), there are several assumptions that the Black Formula is based on. These include; The Black-Scholes model assumes European Options that can only be carried out at expiration. During the lifespan of an option, payments of dividends does not take place The Black-Scholes model makes the assumption that the markets are efficient and as such cannot be predicted by people easily. It uses the application of the random walk. The model also makes the assumption that there are no charges and any other transaction costs when purchasing and trading options and that there exists no barrier whatsoever to tradeoff. It assumes lognormal distribution that the underlying stock is normally distributed. The Black-Scholes model also makes the hypothesis that the interest rates are do no change and are known. It applies the risk-free rate to the known constant. It is also assumes that the volatility of the underlying stock which can be described as the measure of the expectations of near-future stock movements is known. The realism of this the assumptions in the real-life commodity markets. While some of the assumptions taken by the Black-Scholes model are reasonable and applicable in the real world scenarios like the lognormal distribution, others such as the risk free rates and known and constant interest rates do not apply in the real world markets. This is because rates are very likely to be affected by the volatility. Calculations N is the C.M.F of the standard normal distribution T-t is the time to maturity St is the spot value of the stock K is the strike worth of the underlying assets r is the rate not attached to any risk, usually in continues compounding terms is the volatility Replacing the figures on the formula with the values provided. =K e-r(T-t) St +C (St t) Risk free rate= 0.02 Spot price= 25.91 Strike price= 24.84 Time= 90 days Volatility=0.25 =24.84e-0.02(90)-25.91 +C (St t) C (St t) = N (d1) St -N (d2) K e r(T-t) Put price = 0.7458 3. Hedging for a price fall between September and December Time=6 X 30 = 180 days Put price =24.84e-0.02(180)-25.91 +C (St t) Put price = 0.0350 Possible problem: The new put price is too low for the sugar producer. While hedging for a price fall between September and December, the value of the put option is 0.0350. The final value of the put option by the end of October is highest if the sugar producer does not hedge. While hedging itself is the act of buying and retaining shares so as to reduce the risk on the portfolio, the put option price is highest at the end of November if the sugar producer does not hedge. The minimal price secured when the producer buys the put option is 24.0942. The advantages of hedging will include the fact they a hedged portfolio has lower risk than one that is not hedged. References Collins, B. and Fabozzi, F. (1999). Derivatives and equity portfolio management. 1st ed. New Hope, Pa.: Frank J. Fabozzi Associates, p.Page 64.