textile mills in the south essays

material plants in the south articles For what reason did the material specialists association in the southern United States spread so quickly? The material business was, one after another, perhaps the biggest business in the south. Beginning in the late 1800s with little neighborhood weavers spreading to become enterprises controlling the south and whose impact extended universally. One of the souths first material organizations started in Gaston County, North Carolina, and its enormous achievement prompted the opening of factories over the Carolinas and Virginia. As these ventures developed they started to control increasingly more of their workers lives. These colossal organizations were allowed to exploit their laborers on account of the people failure to retaliate. The representatives of these plants lived in conditions looking like that of slaves before the common war. They were worked difficult hours in cold jails called material plants, yet were paid on normal not exactly some other mechanical specialist in America. In the mid twentieth century a notion of scorn started to develop between the working class and the al mighty partnership. The majority started to push for association portrayal. The industrys numbers speaks to the significance of this industry. Materials were the establishment of southern economy. In 1900 there were one hundred seventy-seven factories in North Carolina, however by the mid nineteen twenties, that number had developed to more than 500. Fifty were in Gaston County alone, and by 1929 there were more than one hundred plants in Gaston County which could process cotton, with about seventeen thousand specialists winning their living only from the factories (Williams 29). Materials were a blasting industry in the south. South Carolina utilized just 2,053 individuals in the business when the new century rolled over, however by 1920, about 50,000 individuals worked in plants, one 6th of South Carolinas populace. Virginias material industry became similarly as q... <!

Experiment 9 formal report Lab Example | Topics and Well Written Essays - 1250 words

Test 9 formal - Lab Report Example System additionally includes depiction of strategies like chronicle of matched qualities and ensuing computation of proportionality constants, means and standard deviations. Results area gave arranged data together relating charts for the three tests. This report additionally contains a conversation area rotating around discoveries made in the former segment. Conversation demonstrates whether the speculative case made before is valid or bogus. At last, an end sums up fundamental ideas of the trials. Independent of their constituent molecules, all gases comply with specific relations with natural parameters of weight, temperature and volume. One of a kind connection of gases to these parameters comprises the three gas laws. This implies gases have comparative physical properties, be it CO2, NO2 or H2O (g). While portraying conduct of gases comparable to the three physical parameters recognized before, a forward factor, explicitly the quantity of atoms, is utilized. The three gas laws clarify conduct of gases when two physical parameters are combined. Actually, conduct of gases corresponding to any of the three parameters is free of one another (Myers, 19). For this situation, a gas’ conduct with changing temperature can be estimated by keeping the blending variable, either weight or volume consistent. Basically, gases may show slight variety of variable amounts from hypothetically anticipated qualities. This clarifies the idea of perfect gas law, a law that joins relations hip of all the four fundamental factors of weight, temperature, volume and the quantity of moles. Perfect gas law is composed as PV = nRT where n = number of moles, P = pressure, T = temperature, V = volume and R = gas consistent with a uniform estimation of 0.0821 L-atm/mole-K. As recognized before, connection between two factors can be resolved since conduct of every factor in free of different factors. In the trial, the forward

How to Punctuate Quotes in Essay

How to Punctuate Quotes in Essay When you are writing an essay, its very important to support arguments with good evidence. Quotations can be an effective thing, and if you use them in your work properly, its possible to create a successful and bright paper. Needless to say that your essay must be written in accordance with certain rules. If you are going to include some quotations into your work, you have to know all rules about punctuation. In this article, we are going to tell you how to punctuate quotations in an essay. Keep reading and find the main rules of punctuation weve gathered for you here. What are marks for quotes? While you are making an essay, you may need to put some persons words in it. Special marks are used to put such phrases correctly in the paper. They help to mark other persons words you use from sources. You should remember that marks have to be used in pairs always. There are some differences in using such marks. For example, in the USA, they use single marks if include some quoted words within another quote. People in Great Britain have different rules about single-quote marks and double-quote marks. But in general, all quotes should be marked in your essay according to the requirements. Thats why its an important moment to clarify with your professor or teacher when you are going to create a paper with some quotations included. Rules how to use quotes in an essay correctly There are some certain rules when you need to put quotation marks in your paper. Follow the next rules when youre making an essay: In general, we need quotation marks to mark direct quotes, words, or titles. Marks shouldnt be put when youre using block quotations. When you quote an entire sentence, the text should be capitalized, but you shouldnt do it when you need to put just a fragment. Punctuating quotations in essays can be varied for different cases. Single marks must be used for quotes within quotes. Direct quotations should be introduced and interrupted with commas. If your quotation goes before words “she said”, “he reported”, “they asked”, you should put the comma after the quote. If a quotation is used as an object or subject, it doesnt need a comma. You must mark technical terms, words put in any unusual way, or other non-standard expressions. If a quoted material is more than one paragraph, you need to open a new paragraph with a mark, and to use closing quotation mark only when the passage is ended. How to correctly write a quote in an essay: direct and indirect quotes If you need to use someones word in your essay, it is possible to do with quotation marks. There are two ways how to do it. For example, lets say you need to put into your paper a phrase that your friend said: Arthur said, “Its better to fulfill my homework on math for tomorrow before I go to the party”. But, from the other side, it is possible to make the same sentence without quotation marks: Arthur said that hed like to fulfill his homework on math for tomorrow before he goes to the party. The first sentence is an example of the direct quote, where you just put Arthurs words into your essay. The second example is an indirect quote where you just paraphrase Arthurs saying. Remember that you must mark only direct quotes. Rules how to punctuate quotes in an essay You have to remember these simple rules to punctuate quotations in the paper properly: The beginning quotation mark should be inserted right before the quoted phrase (without spaces), and the end of mark must be inserted after the last word of the quote, without spaces. You have to place the period right after the citation. Never use a semicolon to introduce a quotation; keep in your mind you must use only comma and colon for this. How to introduce quotations in an essay Its quite understandable that you cannot just integrate a quote standing alone into your essay. There are four ways how to correctly put a quote in an essay: Write a complete sentence related to the quote and put a colon. Example: Colin R. Davis said about the success: “The road to success and the road to failure are almost exactly the same.” Write an explanatory phrase and put a comma to separate it from the quotation. Example: According to Jim Rohns words, “Successful people do what unsuccessful people are not willing to do.” Integrate a quotation into your own sentence without any punctuation between your sentence and quote. Example: Michael John Bobak insists that “All progress takes place outside the comfort zone”. Use just a few words of quotation as an integrated part of your own sentence. Example: Thomas J. Watson detects his formula of success by his famous words “go ahead and make mistakes”. Verbs and phrases used to introduce quotations All words that introduce quotes, can be divided into three categories: Neutral verbs that usually mean “says”. Example: the author comments, reports, states, shows, notes â€" these are neutral verbs that go before the quote. Strong verbs that usually shows an argument, and the quote after this word can disagree or support the one side of the argument. These are words: the author argues, compares, rejects, claims, denies, etc. Inference verbs that indicate an argument and a quote shows support or disagreement. Example: The author thinks, suggests, implies. So, now you know everything about how to put a quote in an essay correctly. We hope this article was helpful, and you will create a successful paper with proper quotation marks. Remember that its important to make an interesting and bright work, but its also important to follow all rules about punctuation.

I Am A M The Civil Rights Movement - 975 Words

Title â€Å"I am a man†. â€Å"I am a woman†. â€Å"Equal rights for all†. When our founding fathers developed this country, they wanted equal rights for all, but they did not mean all. What about the suppressed Africans, who were forcibly torn from their mother country and country men? Even after they were no longer slaves, it wasn’t until the Civil Rights Movement that things started to change. Still considered 3/5 of a man, as once was wrote in the constitution, African Americans were still being denied the right to vote, or for jobs, while still experiencing segregation and discrimination. Today, although, racism has improved, the protest in Ferguson has shown we still have a long way to go. Civil right movement background info During the civil rights movement African Americans, particularly the younger generation fought against white supremacy. The older generation in comparison have been â€Å"so completely drained of self-respect and a sense of â€Å"somebodyness† that they have adjusted to segregation† (Dr. Martin Luther King Jr.). Many African Americans were discriminated against but to fight against it could ruin they’re way of life, they found â€Å"†¦their state intolerable, but are too heavily oppressed to change it, they are simply pawns in the hands of larger powers† (James Baldwin, 90). Many people during the Civil Rights movement were arrested, harassed or much worse. The younger generation could present they’re â€Å"†¦very bodies as a means of laying our case before the conscience of theShow MoreRelatedCivil Liberties And Civil Rights1083 Words   |  5 Pages2017 1 Civil Liberties vs. Civil Rights 2 Civil Liberties are basic rights and freedoms that we are guaranteed by the government. You can find them in the Bill of Rights and in the Constitution. Civil liberties are liberties that we as Americans feel safe to interpret on the daily basis. 3 Some civil liberties include, the right 4 for free speech, the right to privacy, the right to remain silent in a police interrogation, the right to be free from unreasonable searches of your home, the right to aRead MoreWomen of the 20th Century Essays1670 Words   |  7 Pagesâ€Å"I feel empty somehow†¦ incomplete†¦ I feel as if I don’t exist.† A sense of numbness was not uncommon for many women who lived in the suburban world of the 1950’s. Confined by a strong emphasis on family and gender roles, women acted as wives and mothers, but did not live as individuals; always being their child’s mother, or their husband’s wife, led these women to lose their sense of self. As prisoners of their own lives, suburban housewives experienced an identity crisis that stripped them ofRead MoreSummary Of Ellen Degeneres Essay1529 Words   |  7 Pagesbehavior and movement was restricted. Many masters†¦rewarded obedient slave behavior with favors, while rebellious slaves were brutally punished† (http://www.history.com). In 1865, the Civil War ended after the North defeated th e South. As a result, slavery was abolished; however, many southern states still discriminated African Americans, as over 1/3 of the population was filled with former African American slaves. After the abolition of slavery in 1865, a new movement began: The Civil Rights MovementRead MoreMalcolm X : An Influential Leader Of The Civil Rights Era1556 Words   |  7 PagesMalcolm X was one of the most influential leaders of the civil rights era, along with Martin Luther King Jr. I have chosen this speech because I think it shows prime examples of rhetoric. This speech was very important to the people of the civil rights movement as it motivated and empowered them not to back down and to fight back with force. He was adamant in his resistance to white oppression and very militant in his actions. He both invigorated and separated the African Americans throughRead MoreJackie Robinson And The American Dilemma882 Words   |  4 PagesRobinson and the American Dilemma by John R. M. Wilson, it tells the story of racial injustice done after world war II and explains how Jackie Robinson was pioneer of better race relations in the United States. The obstacles Jackie Robinson overcame were amazing, he had the responsibility to convert the institutions, customs, and attitudes that had defined race relations in the United States. Seldom has history ever placed so much of a strain on one person. I am addressing the importance of Jackie Robinson’sRead MoreLeaders for Social and Political Change1007 Words   |  5 Pagesmost important political change that was the direct result of Nelson Mandela’s actions was the end of apartheid in South Africa. He began his cause as a leader of the African National Congress that took a non-violent approach to the fight for human rights, but shortly after the Sharpeville Massacre, Mandela formed the Umkhonto, which advocated the use of violence. He raised money abroad for the organization and made arrangements for paramilitary training and anti-apartheid war. Nelson Mandela was arrestedRead MoreThes Benevolent Association, The Knights Of Labor And The Farmers Union1223 Words   |  5 Pagespost civil war laborers, these organizations invested considerable time and funding in advocating for the concerns of the working class. Established socialist communities were natural supporters for unionization based on their beliefs in cooperation for the greater good. Within a transformative decade for Texas workers, the Knights of Labor reached the pinnacle of its influence, failed a railroad strike in 1886 and eventually transformed into an agrarian and mechanics’ organization. (AM and ReidRead MoreThe Supreme Court s Court848 Words   |  4 Pagesman, I feel that it is unusual for me to support same sex marriage. Be that as it may, after observing my manager with her wife and considering how many other couples in the LGBT community could experience such happiness, there is no way that I could agree with denying them the right to marry their loved ones. When I assess the situation, it simply comes down to letting Americans live the lifestyle that they desire (within rationality) and putting them in the best position to live happily. I thinkRead MoreGay Marriage Should Be Legal1123 Words   |  5 PagesSupreme Court’s decision to rule in favor of gay marriage was eye opening to me and made me dig deep for an honest opinion. While I do not necessarily agree with gay couples or gay marriage, I came to a fair conclusion. I am surprised it took this long to finally get this law passed since gay couples are no different from straight couples, and no one should be denied the right to marry. The backlash to this was very astonishing and disgusting. All these couples want to do is love each other and liveRead MoreAnalysis Of Nashville By Tiana Clark1526 Words   |  7 Pagesand details the experience of a black women through first person during present time and how her life as a black woman relates back strongly to the civil rights movement of the 1960’s. The speaker is a woman who is married to a white man and that is chasing someone who said a racial slur to her on the streets. She talks about how the civil rights movement happened and how it changed but how history repeats itself in a way that racism is still around today. The poem ends with her trying to come with

The Health Insurance Portability And Accountability Act Essay

Abstract The Health Insurance Portability and Accountability Act (HIPAA) is divided into five titles. Title I is health insurance portability, title II is administrative simplification, title III is medical savings accounts and health insurance tax related provisions, title IV is enforcement of group health plan provisions, and title V is revenue offsets. HIPAA affects many features of health care, including providing the privacy rights of patients for release of financial and medical information without written consent. No information can be sent to employers, medical institutions, or financial institutions. The patient must also state who can receive their medical information. This will paper discuss and conclude the HIPAA privacy rule. The Health Insurance Portability and Accountability Act was passed on August 21, 1996. HIPAA was passed by the United States Congress and it was signed by the President at that time, whom was Bill Clinton. HIPAA consists of five titles. Title I is h ealth insurance portability, which protects health insurance coverage for workers and their families when they change or lose their jobs. Title II is administrative simplification, which require the Department of Health and Human Services to establish national standards for electronic health care transactions and national identifiers for providers, health plans, and employers. It also addresses the security rule which covers electronic protected health information and privacy of health dataShow MoreRelatedThe Health Insurance Portability And Accountability Act Essay1704 Words   |  7 PagesThe Health Insurance Portability and Accountability Act, most commonly known as HIPAA, was passed by Congress and signed by President Bill Clinton on August 21, 1996. The purpose of this act was to regulate the privacy of patient health information, lower the cost of health care, as well as to help fix the many pieces of our complicated healthcare system. When switching employers or possibly los ing employment, HIPAA secures individuals their health insurance. HIPAA nearly affects all individualsRead MoreThe Health Insurance Portability And Accountability Act890 Words   |  4 Pagesinformation. The Health Insurance Portability and Accountability Act (HIPAA) is Protected Health Information (PHI) that: Relates to a person’s physical or mental health, the provision of health care, or the payment for health care. Identifies the person who is the subject of the information. Is created or received by a covered entity Is transmitted or maintained in any form (paper, electronic, or oral) There are five major components to the Health Insurance Portability and Accountability Act (HIPAA) PrivacyRead MoreHealth Insurance Portability And Accountability Act1253 Words   |  6 Pagesgiving information to the healthcare professional and motivates the patient to seek health care when needed (Jessica De Bord, Burke, MD PhD, Dudzinski, PhD MTS, 2013). In 1996, Congress passed an act that enforces the patient’s right to information confidentiality. The act was named, Health Insurance Portability and Accountability Act, or for short â€Å"HIPAA†. Not only does HIPAA regulate the protection of patient’s health information, but they work to reduce healthcare fraud and abuse, mandate standardsRead MoreThe Health Insurance Portability And Accountability Act1416 Words   |  6 PagesHistory The history of the Health Insurance Portability and Accountability Act, or HIPPA, began in 1996 when a legal mandate was issue by Congress to protect the ethical principles and confidentiality of patient information (Burkhardt Nathaniel, 2014). Prior to this legislation, employees were not protected between jobs. Waste, fraud and abuse in health insurance and healthcare delivery was prevalent. The need to protect the rights of the patient was needed but also the Act contained passages to promoteRead MoreHealth Insurance Portability And Accountability Act1914 Words   |  8 Pageshave always and will always be behind criminal acts, and new laws are put in place to tackle the every changing technological advancement. Law Review Health Insurance Portability and Accountability Act (HIPAA) The Health Insurance Portability and Accountability Act of 1996 (HIPAA) required the Secretary of the U.S. Department of Health and Human Services (HHS) to develop regulations protecting the privacy and security of certain health information. To fulfill this requirement, HHS publishedRead MoreThe Health Insurance Portability And Accountability Act946 Words   |  4 Pagesour own health information, but how is this beneficial to us as patients and healthcare providers? As healthcare is increasingly becoming complex what are ways to enforce these policies and rules? HIPAA rules and standards will need to be the same in each state so there is interoperability the proper way, but will we be able to really accomplish this? This paper will discuss these aspects and ways to overcome these obstacles that are occurring. What is HIPAA? HIPAA also known as the Health InsuranceRead MoreThe Health Insurance Portability And Accountability Act1609 Words   |  7 PagesIt has always been the job of health care providers to maintain doctor-patient confidentiality. Not only is it a legal obligation it is also an ethical obligation to many doctors, nurses, physician’s assistants and many other medical staff. Until recently medical records were primarily recorded on paper and stored in cabinets and locked in what was believed as a secure room. The Health Insurance Portability and Accountability Act also known as HIPAA, was passed on August 21, 1996. Although the lawRead MoreHealth Insurance Portability And Accountability Act Essay1382 Words   |  6 Pages Health Insurance Portability and Accountability Act Final Research Paper Dominique Bracco Healthcare Today (300) Professor Diana December 7, 2016 â€Æ' Abstract The Health Insurance Portability and Accountability Act (HIPAA) is divided into five titles. Title I is health insurance portability, Title II is administrative simplification, Title III is medical savings accounts and health insurance tax related provisions, Title IV is enforcement of group health plan provisions, and title V is revenueRead MoreThe Health Insurance Portability And Accountability Act768 Words   |  4 Pages/ Mrs. CEO, The Health Insurance Portability and Accountability Act (HIPAA) Privacy Rule is the driving force in protecting our patient’s information. We take patient privacy serious and will continue to do so. The following is a summary of the HIPAA Privacy Rule and the Notice of Privacy Practices (NPP). Organizations/facilities that are regulated by the Privacy rule are called entities. Entities play a major part in protecting patient’s health information. Per the Health and Humans ServicesRead MoreThe Health Insurance Portability And Accountability Act817 Words   |  4 Pagesresearch on the Health Insurance Portability and Accountability Act (HIPPA). Enacted by Congress in 1996, HIPPA was created to â€Å"modernize health information exchange† (Solove, 2013). For the consumer, HIPPA sets rules which protect the privacy of health information, to be followed by health care providers and insurance companies. It also gives consumers rights over their health information, such as obtaining a copy, making sure it is accurate, and to know who is or has seen their health information The Health Insurance Portability And Accountability Act Essay The Health Insurance Portability and Accountability Act, most commonly known as HIPAA, was passed by Congress and signed by President Bill Clinton on August 21, 1996. The purpose of this act was to regulate the privacy of patient health information, lower the cost of health care, as well as to help fix the many pieces of our complicated healthcare system. When switching employers or possibly losing employment, HIPAA secures individuals their health insurance. HIPAA nearly affects all individuals within the healthcare field including but not limited to patients, providers, insurance companies and third parties. There are many parts to the HIPAA act to explain, however for the purposes of this paper, the primary focus will be on the main purpose of HIPAA. HIPAAS’s two most important titles, a brief summary of the remaining three titles, along with an overview of how HIPAA works with today’s newer technology in the medical field. The main two purposes of HIPAA includes pro viding continuous insurance coverage for individuals who change jobs as well as reducing the costs and administrative burdens of receiving health care (What is HIPAA?, 2016). HIPAA protects the privacy of a patient’s personal along with the patient’s health information. HIPPA also provides electronic and physical security of personal and health information, simplifies medical billing, and provides a process for individuals to make a documented complaint. Although one of its main purposes is to reduce costsShow MoreRelatedThe Health Insurance Portability And Accountability Act890 Words   |  4 Pagesinformation. The Health Insurance Portability and Accountability Act (HIPAA) is Protected Health Information (PHI) that: Relates to a person’s physical or mental health, the provision of health care, or the payment for health care. Identifies the person who is the subject of the information. Is created or received by a covered entity Is transmitted or maintained in any form (paper, electronic, or oral) There are five major components to the Health Insurance Portability and Accountability Act (HIPAA) PrivacyRead MoreHealth Insurance Portability And Accountability Act1253 Words   |  6 Pagesgiving information to the healthcare professional and motivates the patient to seek health care when needed (Jessica De Bord, Burke, MD PhD, Dudzinski, PhD MTS, 2013). In 1996, Congress passed an act that enforces the patient’s right to information confidentiality. The act was named, Health Insurance Portability and Accountability Act, or for short â€Å"HIPAA†. Not only does HIPAA regulate the protection of patient’s health information, but they work to reduce healthcare fraud and abuse, mandate standardsRead MoreThe Health Insurance Portability And Accountability Act1416 Words   |  6 PagesHistory The history of the Health Insurance Portability and Accountability Act, or HIPPA, began in 1996 when a legal mandate was issue by Congress to protect the ethical principles and confidentiality of patient information (Burkhardt Nathaniel, 2014). Prior to this legislation, employees were not protected between jobs. Waste, fraud and abuse in health insurance and healthcare delivery was prevalent. The need to protect the rights of the patient was needed but also the Act contained passages to promoteRead MoreThe Health Insurance Portability And Accountability Act Essay1267 Words   |  6 PagesAbstract The Health Insurance Portability and Accountability Act (HIPAA) is divided into five titles. Title I is health insurance portability, title II is administrative simplification, title III is medical savings accounts and health insurance tax related provisions, title IV is enforcement of group health plan provisions, and title V is revenue offsets. HIPAA affects many features of health care, including providing the privacy rights of patients for release of financial and medical informationRead MoreHealth Insurance Portability And Accountability Act1914 Words   |  8 Pageshave always and will always be behind criminal acts, and new laws are put in place to tackle the every changing technological advancement. Law Review Health Insurance Portability and Accountability Act (HIPAA) The Health Insurance Portability and Accountability Act of 1996 (HIPAA) required the Secretary of the U.S. Department of Health and Human Services (HHS) to develop regulations protecting the privacy and security of certain health information. To fulfill this requirement, HHS publishedRead MoreThe Health Insurance Portability And Accountability Act946 Words   |  4 Pagesour own health information, but how is this beneficial to us as patients and healthcare providers? As healthcare is increasingly becoming complex what are ways to enforce these policies and rules? HIPAA rules and standards will need to be the same in each state so there is interoperability the proper way, but will we be able to really accomplish this? This paper will discuss these aspects and ways to overcome these obstacles that are occurring. What is HIPAA? HIPAA also known as the Health InsuranceRead MoreThe Health Insurance Portability And Accountability Act1609 Words   |  7 PagesIt has always been the job of health care providers to maintain doctor-patient confidentiality. Not only is it a legal obligation it is also an ethical obligation to many doctors, nurses, physician’s assistants and many other medical staff. Until recently medical records were primarily recorded on paper and stored in cabinets and locked in what was believed as a secure room. The Health Insurance Portability and Accountability Act also known as HIPAA, was passed on August 21, 1996. Although the lawRead MoreHealth Insurance Portability And Accountability Act Essay1382 Words   |  6 Pages Health Insurance Portability and Accountability Act Final Research Paper Dominique Bracco Healthcare Today (300) Professor Diana December 7, 2016 â€Æ' Abstract The Health Insurance Portability and Accountability Act (HIPAA) is divided into five titles. Title I is health insurance portability, Title II is administrative simplification, Title III is medical savings accounts and health insurance tax related provisions, Title IV is enforcement of group health plan provisions, and title V is revenueRead MoreThe Health Insurance Portability And Accountability Act768 Words   |  4 Pages/ Mrs. CEO, The Health Insurance Portability and Accountability Act (HIPAA) Privacy Rule is the driving force in protecting our patient’s information. We take patient privacy serious and will continue to do so. The following is a summary of the HIPAA Privacy Rule and the Notice of Privacy Practices (NPP). Organizations/facilities that are regulated by the Privacy rule are called entities. Entities play a major part in protecting patient’s health information. Per the Health and Humans ServicesRead MoreThe Health Insurance Portability And Accountability Act817 Words   |  4 Pagesresearch on the Health Insurance Portability and Accountability Act (HIPPA). Enacted by Congress in 1996, HIPPA was created to â€Å"modernize health information exchange† (Solove, 2013). For the consumer, HIPPA sets rules which protect the privacy of health information, to be followed by health care providers and insurance companies. It also gives consumers rights over their health information, such as obtaining a copy, making sure it is accurate, and to know who is or has seen their health information

The dotcom bubble and the stock market fall in 2000-2001 Free Essays

Summary of the main points covered in my essay. How did the dotcom bubble burst contribute to the economic crisis of the 2008? Could we expect the similar crisis and how can it be prevented? What are the lessons that should have been learned from the dotcom crisis? When the global financial crisis occurred in 2008, both experts and general public started heated discussion as everyone was eager to identify the reasons for such a calamity. It is clear that nothing happens with no reason at all. We will write a custom essay sample on The dotcom bubble and the stock market fall in 2000-2001 or any similar topic only for you Order Now Let’s consider the famous speech1 of Ben Bernanke, who is the Chairman of the Federal Reserve System. In that testimony he tried to explain the causes of the recent financial and economic crisis to the Financial Crisis Inquiry Commission, highlighting the vulnerabilities in different sectors of economics. The idea of inadequate risk-measurement that he focused on is very important for us, as this particular issue makes the recent crisis akin to the dotcom bubble we are about to examine in detail. (The same idea is one of the major issues of the next Ben Bernanke’s speeches, where he underlines the importance of reasonable risk management and possible destructive effects of being too optimistic about the future of the economic system). To sum up, experts claim that flaws in evaluating the perspectives of new technologies in the 90ies caused the dotcom bubble burst in 2000, while the inadequate risk-measurement of the financial instruments connected to mortgages led to the global financial and economic crisis in 2008. Could we have predicted the economic disaster coming in 2008 and which lessons could have been gathered from the dotcom crisis? These are the questions that make the topic urgent and exciting to examine. To begin with, let’s define the key term. What is a dotcom? Dotcom is a firm conducting its business mainly over the Internet. They usually possess a Web site intended for business use. The term is based on the â€Å"com† that forms the last part of the address for most commercial Web-sites. Now, what were the reasons for the dotcom bubble burst and what actually happened? (We should mention that this phenomenon is also referred as the Internet bubble and the Information Technology Bubble in many articles). It all started during the mid 1990is. The Internet was extremely popular those days and the Stock Market soared on technology and Internet stocks. Stock prices were rising and it seemed there was to limit for their value to expand. The masses believed there was a new world coming and the Internet was for sure to become the future of business. The steady confidence took place that the e-companies would turn future profits and there is no limit for technologies development. These expectations were reflected in the NASDAQ composite index. The NASDAQ composite is a stock market index of the common stocks and similar securities, which are listed on the NASDAQ stock market. The index reflects the performance of stocks of technology companies and growth companies. From January 1994 to February 2000, the it rose from 776. 80 to 4,696. 69, a 605% increase, and was influenced mainly by prices of high-technology stocks. But these expectations turned out to be far too positive. The market became overvalued. The Stock Market crashed. The culmination happened on March 10, 2000, with the NASDAQ peaking at 5132. 52 in intraday trading before closing at 5048. 62. (see the graph 1) Graph 1. NASDAQ composite dynamics2 The period when the bubble expanded rapidly was marked by the founding of many new small Internet-based companies commonly referred to as dotcoms. Many of them failed in 2000. A very specific phenomenon could be noticed at that time – the way for a new unknown company to become prosperous was just to add an â€Å"e-† prefix to their name or a â€Å". com† to the end. One of the authors called it â€Å"prefix investing†3, as the result of this simple renaming was the incredible growth of stock prices. I suppose that was one of the first indicators that something was wrong and the calamity was coming. But everyone considered it the steady development of the market that has big future. Alan Greenspan (an American economist, the Chairman of the Fed in 1987-2006) in 2005 said, that â€Å"this vast increase in the market value of asset claims is in part the indirect result of investors accepting lower compensation for risk. Such an increase in market value is too often viewed by market participants as structural and permanent†4. However, the situation isn’t unique and appeared to happen again. When in 2003 nanotechnology became the â€Å"hot† thing, everyone started to add a â€Å"nano† prefix in their name. It seems that the lessons that should have been learned from the dotcom bubble burst were forgotten. Let’s turn to the term itself in its theoretical sense. What is the bubble in financial markets? In a word, we say that a stock market bubble occurs when there is a rise or boom in the share prices of stocks of a particular industry. Meanwhile, the rise in prices usually bears little relation to the intrinsic value of the asset. The term â€Å"bubble† may be used with certainty only in retrospect when share prices have since crashed, as it happened in our case. An important basic characteristic of a bubble is the suspension of disbelief by most market participants during the â€Å"bubble phase. They fail to recognize that all of them are engaged in a speculative activity. That characteristic describes the dotcom crisis as well, as we already found out. It would be interesting to mention that financial bubbles have existed for centuries and one of the earliest crises of the type in known as the Dutch tulip mania. In the 17th century prices for tulip bulbs rose and finally reached extraordinarily high levels and then collapsed in the blink of an eye. The same happened to the stock of e-companies in the late 90ies. I suppose we can refer to this case as to â€Å"the dotcom mania†. The speculators who represent all the people in the economy that what to get high profits very fast, note the fast increase in value and decide to buy stock in anticipation of further rises, not taking into account that the shares are overvalued. Consequently the rise happens responding to the high demand for stock and many companies thus become grossly overvalued. When the bubble â€Å"bursts†, the share prices fall dramatically, and many companies are forced to leave the business. In order to be more precise, we can name five stages of any financial bubble5: First. Displacement. When people, especially investors, get enamored by a new paradigm, such as an innovative new technology or dotcom companies, as in our case, displacement occurs. That is the first stage of a financial bubble. Second. Boom. At this stage prices rise slowly at first, following a displacement, but then they gain momentum. More and more participants enter the market. All of them are determined to get prosperous as soon as possible. In case of dotcoms, a huge amount of small companies appeared on the market. The low interest rates in 1998-99 helped to increase the start-up capital amounts. Not all of them possessed innovative ideas, but they were sure that in the wave of e-companies they must succeed. No wonder they all had the same business plan of monopolizing their respective sectors through network effects. However it was clear that all of them wouldn’t become successful as the competition was tough. For many of them the â€Å"get big fast† plan would fail. During this phase, investors become even more enamored by the asset, considering it once-in-a-lifetime opportunity that increases speculation even more. Mass media also played its role. American respected business publications such as Forbes and the Wall Street Journal, encouraged the public to invest in risky companies in the wave of the wide-spread euphoria. As the result, many â€Å"ordinary† people became investors, some of them even gave up their job to become fill-time traders. Third. Euphoria. During this phase investors as well as the whole financial system forgets about prudence and asset prices skyrocket. During the dotcom bubble, the euphoria stage took place in the beginning of March 2000, when NASDAQ composite reached its top at 5132. 2 in intraday trading before closing at 5048. 62. This and the previous stages can be clearly revealed from the NASDAQ dynamics (see graph 1). Fourth. Profit taking. By this time the warning signs of coming debacle can be seen. This is the point when smart investors can make fortunes by selling out positions and taking profits. However, it is obvious that it’s very difficult to estimate the exact time when a bubble is due to collapse. John Maynard Keynes once mentioned that â€Å"the markets can stay irrational longer than you can stay solvent. As for the dotcoms founders, few of them made vast fortunes when their companies were bought out before the collapse. Fifth. Panic. In the panic stage, asset prices change direction and descend as rapidly as they had ascended. Investors and speculators are faced with margin calls, which are â€Å"demands on an investor using margin to deposit additional money or securities so that the margin account is brought up to the minimum maintenance margin†6, and the value of their holding plunge. Consequently, they want to liquidate them at any price. The supply overwhelms demand, and asset prices slide sharply. In 2000 the market index fell by almost 11% and NASDAQ fell by about 41%7. To explain the bubble applying the tools of mathematics, we’ll apply the most common concept that shows the existence of bubbles8. Considering the most simple case of price of a single share, the mathematical definition of an asset price bubble uses the fair price of a financial asset as its starting point. The price of an asset is the present value of the future cash flows, generated by the asset. pt =Et(dt+1+pt+1)/(1+r), here dt is dividend, pt is the price of the asset at a certain time t, and Et(i) is the expected value of the expression in the brackets based on the information available at t time. If the interest rate (r) is held constant during the whole period, then share price at t time (pt) in a general form can be given as follows: The first part of the sum on the right, which is the discounted present value of dividends, is the fundamental value of the share (pt * ). The remainder (bt) is a deterministic or the stochastic component satisfying the condition bt = Et(bt+1) /(1 + r), which is the asset price bubble itself. So, if the price of an asset is formed as following: pt =p t*+bt, and if p =? p*, then in the mathematical sense an asset price the bubble is formed. To continue our analysis, let’s describe the consequences of the dotcom bubble burst in 2000. Many small companies and some of the largest ones were forced to file for bankruptcy. Some of them ran out of capital, some of them were acquired, some were convicted of fraud in their financial statements. WorldCom, which was one of the leaders in the market was found practicing fraudulent accounting practices to exaggerate its profits every year. As it was revealed, it’s stock price fell dramatically, and finally the company filed for bankruptcy. Other examples include NorthPoint Communications, Global Crossing, JDS Uniphase and many others. However, some of the e-companies managed to survive the calamity. Large companies, for example, Amazon. com and eBay, are quite successful nowadays. Google also survived the turmoil and became one of the market leaders. As many economists predicted, harsh recession began from 2001. The crash on the stock market of 2000-2002 caused the loss of $5 trillion in the market value of companies from March 2000 to October 2002: the market value of NASDAQ companies peaked at $6. 7 trillion in March 2000 and bottomed out at $1. 6 trillion in October 20029. The economic bottom was the followed by 9/11 terrorist attacks of the World Trade Center’s Twin Towers. CONCLUSION After the case of dotcom crisis the word â€Å"dotcom† started to be used with unfavourable inflecton. It is frequently used to refer to a poorly thought-out unsuccessful businesses. Experts claim that dotcom crisis was one of the events that preceded the global financial crisis in 2008. It was kind of a â€Å"rehearsal†, as the global crisis also contained a speculative bubble, though it embraced a much wider variety of securities. Luckily, the recession following the bubble burst of 2000-2001 was not as deep as it could have been thanks to very aggressive interest rates lowering. However, a deeper downturn in the financial activity is much harder to overcome. The Internet bubble is also similar to the recent downturn because they were both preceded by inadequate risk-measurement and agents’ overconfidence. The financial and economic crisis of 2008 could have been predicted, if everyone was more prudent and learned a lesson from the 2000 dotcom case. In conclusion, I’d like to address the issue of a new Internet crisis that is predicted by some economists. Nowadays World Web companies place their stock at unbelievably high prices. Can a successful Internet project cost more than a huge transnational oil company? The common sense says definitely no, but investors have their own specific point of view. For example, the shares of Groupon, a famous discount service, we evaluated at $12,7 trillions, despite the company’s loss of $400 trillions the previous year and gross debt equal to $420 millions. This estimation is not reasonable and very far from reality. Meanwhile, the expected IPO of social network Facebook is evaluated at $100 trillions. It can be the beginning of the Dotcom Crisis 2. 0. On the other hand investors are optimistic about e-companies, as they survived the recent global crisis, unlike huge interconnected firms in other fields, such as financial, machinery and so on. However, if the case of Groupon is not unique (which is so, judging by the investors’ optimistic mood) the crisis can occur once again. The most important thing in preventing the possible debacle is being prudent. Investors shouldn’t be too optimistic and should be sensible when acquiring assets. PR and advertising can be astonishing, however being reasonable means evaluating the real business indicators to make rational decisions. Risk-management is the field that shouldn’t be ignored if we want to avoid new crises. How to cite The dotcom bubble and the stock market fall in 2000-2001, Papers

the Benefits of Introducing a Career Development Polic an Example of the Topic Government and Law Essays by

the Benefits of Introducing a Career Development Policy Report on the benefits of introducing a career development policy within the company you work for or have an in depth knowledge of. If such a policy is already in place, evaluate its effectiveness. In order to succeed in the market, companies need to ensure they provide efficient management of human resources. Companies can perform well only in such a case when all of the employees are able to realize their potential, apply their skills and make sufficient contribution to the development of the company. Career development policies are particularly important for those organizations which want to be successful in the market. However, their application in various companies can be rather controversial. Need essay sample on "the Benefits of Introducing a Career Development Policy" topic? We will write a custom essay sample specifically for you Proceed On one hand, career development policies can be very expensive for the company because it has to hire well-known professors or consultants to give additional knowledge to its employees. Only large companies might be able to afford that, while small companies might not have enough resources for such investments. Smaller companies might thus choose to invest in other more certain assets than employees knowledge, in order to achieve the best allocation of their limited resources. However, the investments in employees knowledge can pay off very fast in many cases, and companies should always consider this alternative. By investing into the knowledge and skills of their employees, companies benefit greatly because employees productivity increases rapidly as the result of trainings. Employees become more confident and they are able to introduce many more new ideas, which will eventually bring great benefit to the company. As an example of a company with a well-developed career development policy, it is could be valuable to examine World Bank. This large institution is well-known in the world for its great career development opportunities. The paper seeks to investigate career development policy in World Bank and identify its effectiveness. Building blocks of career development policy is World Bank include the following ones: Career development services are available for all of the permanent employees of the company; Career development services are offered in a wide range of spheres, including 1-week orientation program for any new employee, various kinds of computer courses, language tutoring in all of the languages of the world (in large, middle-size, small groups or private tutoring), courses in communications, economic policy, poverty and a large variety of other subjects dealing with specifics of a particular department of the Bank; Career development based on performance appraisal of employees; Career development based on a particular program according to which the employee got enrolled in the Bank. The Bank annually adopts large budgets for career development of the personnel. According to the opinion of its executive, employees are the most valuable asset of the Bank, and thus their career development is number one priority. Such policy gives advantages both to every individual employee of the Bank and to the organization in general because productivity increases.It is important to mark that every employee who works full-time (or part-time, such as a consultant) at the World Bank is able to sign up for a large number of courses which he would like to take. An employee of the lower level is certainly not able to attend courses which are designed specifically for top-level management, but he is allowed to take any courses in the general list of the Bank. There might be a line for some courses because they are constantly in demand, and an employee will have to wait for a few months to get into the particular class, but he is always welcome to sign up for the class. Orientation program is offered to any new employee in the staff, disregarding the functions which he is going to fulfill. By attending the orientation program, every employee is able to find out about the operations of the Bank, its policies and prospects of the development. Orientation program last the whole week and every employee gets acquainted with the top professionals of the Bank running its departments, and learns everything about the Banks operations. After going through the orientation program, an employee is able to start studying any language he is interested in, and he will be placed in a group with the knowledge level which answers his level. Every employee is able to take computer classes in software which he is not familiar with. Further career development of the employees depends both on their desires and desires of their managers. Employees are free to choose courses according to their own interests, but from time to time they have to take certain courses because their managers consider it necessary, as the result of performance appraisal. Performance appraisal is currently one of the most important issues in human resources management, and World Banks managers devote considerable attention to it when it comes to career development issues. Bernardin Hall, Posner, Maroney Thomas & Bretz (1994) have all devoted considerable attention to the development of theoretical models of performance appraisal. How can a manager of World Banks department make a conclusion about the necessity to promote this or that employee, increase of decrease his salary, shift him to another department? How can the manager decide which employee needs special training or which can perform on the highest level without additional training? The most efficient tool in such a case is performance appraisal. If carried out correctly and on the basis of efficient methods, performance appraisal can be very helpful for the evaluation of employees work. Companies that hope to succeed in today's competitive business environment must learn to identify their most capable employees for placement in key organizational appointments. To do this, managers should devote more attention to maximizing the effectiveness of performance appraisal systems. (Mcbey 1994: 23). On the basis of performance appraisal, World Banks managers usually make decisions about the necessity of certain training for certain employees. Computer skills are crucial for administrative positions; therefore, most of the employees occupying these positions are required take 2-3 day courses on PowerPoint, Lotus Notes, Excel, SAP and other learning programs. As soon as the employees become professional in these software packages, they are able to perform all of the tasks in their workplace much more efficiently. Employees in professional positions are often required to take courses connected with their position (for example, those who participate in projects dealing with economic policy of Nigeria, are often required to take a 1-week course in the basics of economic policy) or with the languages of the department they are working at (such as Chinese language for the Asia and Pacific Department). Managers are usually required to take courses in communications, for example, conflict solving. One of the most popular communications courses for senior level management at World Bank is Art and Science of Strategic Communication. This course is presented by well-known professors from Harvard and Wharton. Lecture notes of the course are prepared not only based on the course contents, but also the projects which the participants have been working on. Therefore, training is slightly different every time a new group of participants takes it. In such a way, the creators of the course do their best to make the learning program as efficient as possible for the participants. The career development tools at World Bank also greatly depend on the type of the assignment which the employee has. There are many ways to obtain a job at the World Bank, and your career development will be greatly influenced by the nature of your entry-point. If you get a job at the Bank as a consultant, you will have a chance to participate in many learning programs, but your career potential might still be a little limited. You will have to wait until you get a more permanent position to use all of the available learning opportunities. If you get a job as an administrative assistant, you might not be able to take advantage of professional learning programs for a long while. If your first job at the Bank is economist, or financial analyst, or communications officer, or any other professional job, you will have unlimited opportunities for career development. For mid-career professionals, the Bank offers a variety of employment contracts, either open-ended or term, based on the business needs of specific units. Searches are undertaken internationally for jobs that require global outlook and experience and for which staff are expected to be globally mobile. Managers also hire locally when their work programs warrant it. (Employment opportunities. Accessed on February 26, 2006 at URL: www.web.worldbank.org). However, it is usually very difficult to get a job like that from the start. The most rewarding entry-level position which one can get is a Young Professional. It opens the best horizons for career development for a young person. Young Professional Program is one of the most challenging programs available at World Bank. It is difficult to get selected in it, but those people who get selected have literally unlimited opportunities. As the World Banks website mentions, The Young Professionals Program (YPP) is a starting point for an exciting career in the World Bank. It is a great leadership opportunity in development, which offers a solid base to distinguish a path and start a career in the World Bank, gives the flexibility to work in different areas of the institution, providing an array of opportunities to learn about development work. The program offers the best opportunities for career development available at the Bank. Even though a Young Professional might not be familiar with operations of the Bank in the first place, all of the extensive training which he gets during two years is enough to make him into the top professional of the Bank. Young Professionals Orientation is specially designed to familiarize YPs with the operations of the World Bank. Training in Finance is an intensive program on the fundamentals of finance. Individual training opportunities are also being offered. YPs participate in training activities organized within the World Bank as well as external seminars. (Employment opportunities. Accessed on February 26, 2006 at URL: www.web.worldbank.org). Young Professionals are considered such valuable assets for the Bank that they get trained in every possible sphere of the Banks operations for them to determine what the best position for them at the Bank is. Young Professionals program has a very large budget because Young Professionals are even required to travel on various missions in order to get exposed to work in other countries during their rotation program. Grass Roots Immersion Program enables YPs with limited exposure to poverty participate in an immersion program so they can learn from the experience. Young Professionals Discussions provide YPs with a better understanding of the policies, procedures, and business culture so they can better integrate into the institution. Opportunities similar to Young Professionals Program are being offered by The Junior Professionals Program for Afro-Descendants (JPPAD). It provides young and motivated individuals with practical, on-the-job experience and training in a global development environment, while giving the Bank an opportunity to benefit from the knowledge, talent and diversity that they can bring to the institution. (Employment opportunities. Accessed on February 26, 2006 at URL: www.web.worldbank.org). People enrolled in this program also get a chance to obtain training in all of the aspects of the Banks activity in order to determine the most suitable positions for them at the Bank. As a conclusion, it is important to mark that career development policy at the World Bank is very beneficial both for every particular employee and for the Bank in general. As long as the Bank allows all of the employees to participate in various kinds of learning programs, the managers can be sure that employees will stay with the Bank. Employees at the World Bank have a saying that nobody ever leaves the Bank after starting to work in it. Even if somebody leaves, he will be back very fast because he will not be able to find better opportunities elsewhere. Career development policies offered by the World Bank make every employee feel like an important part of the organization, and employees loyalty to the Bank is unlimited. The policy which the Bank has chosen is very efficient. It is the most favorable for employees enrolled as Young Professionals or mid-career professionals because they have the most opportunities for learning, but other employees of the Bank also have great oppor tunities for learning during their careers. Bibliography Bernardin, J. H., & Klatt, L. A. (1985). Managerial Appraisal systems: Has practice caught up to the state of the art? Personnel Administrator, November, 79-82, 84-86. Canada Benjamin O. A Strategic View of Recruitment. School Administrator. Volume: 58. Issue: 1. January 2001. Coens Tom, Jenkins Mary (2001), Focusing on Performance. Security Management. Volume: 45. Issue: 8. August 2001. Hall, J. L., Posner, B. Z., Hardner, J. W. (1989). Performance appraisal systems: Matching practice with theory. Group and Organization Studies, 14(1), 51-69. Hornsby Jeffrey S., Shirmeyer Roslyn, Smith Brien N. (1996). Current Trends in Performance Appraisal: An Examination of Managerial Practice. SAM Advanced Management Journal. 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