Wednesday, October 30, 2019

Transportation Management Assignment Example | Topics and Well Written Essays - 1500 words

Transportation Management - Assignment Example public consciousness is one of the most vital elements, which is associated with any particular domain including the society, the business and the lives of individuals among others (Sharma, 1992). From the above depiction, it is apparent that any kind of resources are quite vital for the long-term existence of the human beings. Contextually, this particular paper will evaluate the potential of reducing fuel cost by using trucking equipment that is more efficient and socially conscious by proposing at least five processes or rules. It is believed that with the rising prices of the resources such as petrol and other fuels, there has developed a need to emerge with alternative options in order to deal with the challenges of fuel inadequacy in the future context. However, individuals also hold perceptions that emerging with methods that ensure fuel efficient operations of vehicles might also be a potential measure for dealing with the decreasing level of fuel resources in the contemporary scenario. Contextually, certain procedures or policies will be evaluated with regard to the use of fuel in trucks further ensuring reduction of the cost of fuels through using efficient and socially cognizant equipment. There are various processes that can be determined with regard to reducing the fuel consumption of vehicles which are highlighted and explained in a detailed manner hereunder. The first step that can be adopted in this regard will be proper use and maintenance of the equipment used in the vehicles which will include tires, engines and other parts of vehicles. The type of tires that is being used in the vehicle is directly interlinked with the fuel efficacy of the vehicles. It is known that heavy trucks or any other vehicles consume more fuel in comparison with small light-duty vehicles. This is because of the difference in tire rolling fuel consumption amid the two sorts of vehicles. It is known that the light duty passenger vehicles use low rolling resistance

Monday, October 28, 2019

Voice of the Customer Case Study Essay Example for Free

Voice of the Customer Case Study Essay 1. Explain how the Voice of the Employee sup ports improved internal processes (Voice of the Business), and how the Voice of the Business supports customer satisfaction (Voice of the Customer).  As stated by the United States Postal Service annual performance report, The Voice of the Customer goal category focuses Postal Service resources on growth to generate sufficient revenue to support the public service mission of universal service that â€Å"binds the nation together. † Providing timely, consistent delivery across all classes of mail will increase customer satisfaction and generate growth in support of our central mission (2002). The Voice of the Employee goal category focuses on creating a workplace environment that fosters a motivated, productive and inclusive workforce and embraces the values of fairness, opportunity, safety, and security. The Voice of the Business goal category focuses on maintaining the affordability of Postal Service products and services by improving productivity so as to control costs and improve contribution levels to grow business (USPS annual performance report, 2002). For each Voice, a goal statement focuses on the overall performance sought. For Voice of the Customer, the goal is to provide services that meet the needs of different customers in competitive markets and grow the revenue necessary to support the public service mission of the Postal Service. For Voice of the Employee, the goal is for a motivated, productive and inclusive workforce and a goal of affordability for the Voice of the Business. 2. While Figure 8. 14 shows only representative measures associated with the balanced scorecard, suggest some other measures that might be included, using your knowledge of postal operations. Traditionally, performance measures used to assess success were financial in nature. This allowed only one view of what happened. The measure is complete only at the moment, and there are limited indications where current operations are effective or ineffective as the measures are historical in nature. Financial measures are outcome measures that show what has happened in the past. A more forward looking set of performance measures tells managers and employees where they are headed, what aspects of the organization are succeeding, and what aspects need improvement to effect future successful outcomes. For example, customer satisfaction levels tell us something about the future predisposition of customers to use our service in the future, which relates to future financial measures. In the same manner, if we know there is a connection between meeting customer requirements and internal process measures that are tracked, and then there is a clear sense of what we need to do in managing our processes in order to meet customer needs (Thompson Mathys, 2006). 3. Note what are some of the advantages and disadvantages of using a Balanced Scorecard approach. The first advantage of using the balanced scorecard method is that by looking at four aspects of a companys performance, you really do get a balanced view of company performance. Unlike traditional methods of tracking the financial health of a business, the balanced scorecard gives you a full picture as to whether your company is meeting its objectives. While it may seem that a company is doing well financially, it may be that customer satisfaction is down, employee training is inadequate, or that the processes are outdated (Bowen, 2011). As explained by Bowen (2011), by using a balanced scorecard approach, the immediate future isnt the only thing being evaluated. Often, when an accountant sees the financial bottom line (perhaps the company isnt doing well), suggestions are given that are immediate, but do not look at the long-term. Using balanced scorecards allows for stakeholders to determine the health of short, medium, and long-term objectives at a glance. Finally, by using a balanced scorecard, a company can be sure that any strategic action implemented matches the desired outcomes. Will raising the price of a product help the bottom line of the company in the long run? It might, if the customer is satisfied with that product, or if the processes involved with creating that product make the product of a higher quality (Bowen, 2011). While there are many advantages to using balanced scorecards in your accounting toolbox, there are a few disadvantages to the method as well. First, the balanced scorecard takes forethought. It is not a tool you can just think up one night to solve a problem. Instead, it is recommended that you hold a meeting to plan out what goals you would like to see your company reach in each of the four above areas. Once you have clearly stated objectives, you can then begin to break down these objectives in what you will need, financially, to bring these objectives to fruition. As explained by Bowen (2011), while the balanced scorecard gives you an overall view of the four areas for concern in business growth and development, these four areas do not paint the whole picture. The financial information included on the scorecard is limited. Instead, to be successfully implemented, the balanced scorecard must be part of a bigger strategy for company growth that includes meticulous accounting methods. Many companies use metrics that are not applicable to their own situation. It is vitally important when using balanced scorecards to make the information being tracked applicable to your needs. Otherwise, the metrics will be meaningless.

Saturday, October 26, 2019

Training the Parent for Sport Essay -- Sports Athletics Parenting Essa

Training the Parent for Sport Imagine a beautiful spring afternoon at a community soccer match for young children in the area. The game begins with an enjoyable and exciting atmosphere. The kids are running their hearts out chasing down the ball and the parents watching seem so incredibly proud of their little Johnny or little Suzy. Everyone seems to be having fun. Then, simply be accident, one of the players trips and falls on the field. He or she gets up unhurt but the player’s parent is sent into a torrent yelling and screaming that their child’s fall was a result of foul play. The parent becomes louder and when the coach tries to calm the parent down, the parent throws a punch at the coach. A fight ensues, the game is halted, and everyone goes home disappointed and discouraged by the day’s events. As coaches I realize many of you may not have seen with your own eyes a parent’s obnoxious behavior escalate to such irrational violence, but you have seen disruptive and rude behavior in parents attending your games. This is a serious problem and is becoming more and more prevalent. While there are no official statistics on the amount of violence involving parents at youth sporting events, the examples are numerous. A Sarasota father was arrested after storming the field and punching the referee during his son’s flag football game (Elvin 3). Other incidents reported last year include â€Å"a soccer mother in Greensboro, NC was charged with assault after hitting a referee after a game. A father in Cleveland punched a 15-year-old boy during a soccer game because he felt the player had pushed his son† (Stewart 1) and, probably the most familiar case, Thomas Junta was charged with manslaughter af... ...al behavior. This training class is the best possible way to fix this problem. Sports are supposed to encompass learning to work together as a team, sportsmanship, and trying your hardest, not the pressure that an obnoxious parent can put on a game. Engh highlights the importance of the training program so as to â€Å"ensure that all children have fun and rewarding experiences. After all, that’s what sports are all about!† (Sachs 3). Works Cited Elvin, John. â€Å"New Penalties for Being a Bad Sport.† Insight on the News . V17 (April 23, 2002): 35. Robinson, Bryan. â€Å"More Lessons Needed.† ABCNews.com. http://abcnews.go.com/ Sections/us/DailyNews/sportsviolence020114.html . (February 17, 2002). Sachs, Michael L. â€Å"Lighten up, Parents!† USA Today . Nov. 2000: 62. Stewart, Mark. â€Å"Good Sports?† Insight on the News . V16 (June 19, 2000): 28.

Thursday, October 24, 2019

Business continuity and disaster recovery Essay

The mission-critical business systems and services that must be protected by this DRP are as follows: Payroll, Human Resource Data, POS backup media, and Web Servers and their services. b. Internal, External, and Environmental Risks b. i. Examples of internal risks that may affect business are unauthorized access by individuals who are employed by the company, and those who aren’t employed by the company but still have access to individual store’s computer systems, applications, or areas where the servers and backup media are located. Other external and environmental risks include fire, floods, power outages, hardware failure, software glitches and failure, storms, and other acts of nature. II. Disaster Recovery Strategy a. Most cases, having an alternative site (a hot site, or cold site depending on the disaster) would be the correct way of dealing with most disasters. As well as having a backup and retention site to work from, and recover from for the main servers and web services. b. Unwanted access can be turned off, or excluded when logged in via a monitoring service, as well as time restricted login. Any unauthorized logins will be recorded and terminated as well as site information and tracing information. Security measures are implied (camera, onsite security, etc. ). III. Disaster Test Plan a. Monthly walkthroughs of the equipment, as well as quality assurance through the electric company, Internet Service providers, will ensure upkeep of the facilities main sources of outside connection as well as power. Weekly walkthroughs from management will keep the records up to date, as well as daily walkthroughs by IT will keep day to day evaluations up to date. b. Working with the electric company, as well as the internet service provider for the company will ensure that during a â€Å"Blackout† that services will be restored or alternative accommodations are made. Such as Internet Service Provider at the main location has been lost, the backup â€Å"hot† site is then initiated and work to restore the main site is commenced as well as recorded. If the hot site is compromised as well, the cold site and/or the backup media site will then come into play. This goes for in an event where power is lost, or a natural disaster happens at the main location, the services then begin on alternative sites where backup has been made, or at least working services implemented. c. Unwanted access will again be monitored and recorded, as well as terminated upon login. d. During a full interruption of service, where the site as well as backup media, hot site, and cold site are not accessible, emergency protocol is implemented to recover main site as soon as possible with minimal loss. In worst case scenario, the hot site will become the main site until main site become available again.

Wednesday, October 23, 2019

Epic poetry Essay

?This article is about the art form. For other uses, see Poetry (disambiguation). Literature Major forms Novel Poem Drama Short story Novella Genres Comedy Drama Epic Erotic Nonsense Lyric Mythopoeia Romance Satire Tragedy Tragicomedy Media Performance (play) Book Techniques Prose Poetry History and lists Outline of literature Glossary of terms History (modern) Books Writers Literary / Poetry awards Discussion Criticism Theory Sociology Magazines Literature portal v t e â€Å"Poem†, â€Å"Poems†, and â€Å"Poetic† redirect here. For other uses, see Poem (disambiguation), Poems (disambiguation), and Poetic (disambiguation). Poetry (from the Greek poiesis — — meaning a â€Å"making†, seen also in such terms as â€Å"hemopoiesis†; more narrowly, the making of poetry) is a form of literary art which uses aesthetic and rhythmic[1][2][3] qualities of language—such asphonaesthetics, sound symbolism, and metre—to evoke meanings in addition to, or in place of, the prosaic ostensible meaning. Poetry has a long history, dating back to the Sumerian Epic of Gilgamesh. Look more:  types of satire essay Early poems evolved from folk songs such as the Chinese Shijing, or from a need to retell oral epics, as with the Sanskrit Vedas, Zoroastrian Gathas, and the Homeric epics, the Iliadand the Odyssey. Ancient attempts to define poetry, such as Aristotle’s Poetics, focused on the uses of speech in rhetoric, drama, song and comedy. Later attempts concentrated on features such as repetition, verse form and rhyme, and emphasized the aesthetics which distinguish poetry from more objectively-informative, prosaic forms of writing. From the mid-20th century, poetry has sometimes been more generally regarded as a fundamental creative act employing language. Poetry uses forms and conventions to suggest differential interpretation to words, or to evoke emotive responses. Devices such as assonance, alliteration, onomatopoeia and rhythm are sometimes used to achieve musical or incantatory effects. The use ofambiguity, symbolism, irony and other stylistic elements of poetic diction often leaves a poem open to multiple interpretations. Similarly, metaphor, simile and metonymy[4] create a resonance between otherwise disparate images—a layering of meanings, forming connections previously not perceived. Kindred forms of resonance may exist, between individual verses, in their patterns of rhyme or rhythm. Some poetry types are specific to particular cultures and genres and respond to characteristics of the language in which the poet writes. Readers accustomed to identifying poetry with Dante, Goethe, Mickiewicz and Rumi may think of it as written in linesbased on rhyme and regular meter; there are, however, traditions, such as Biblical poetry, that use other means to create rhythm and euphony. Much modern poetry reflects a critique of poetic tradition,[5] playing with and testing, among other things, the principle of euphony itself, sometimes altogether forgoing rhyme or set rhythm. [6][7] In today’s increasingly globalized world, poets often adapt forms, styles and techniques from diverse cultures and languages.

Tuesday, October 22, 2019

Essay on REDUCTION OF COLLEGE COSTS

Essay on REDUCTION OF COLLEGE COSTS Essay on REDUCTION OF COLLEGE COSTS Corey Lucas ENC1102 - 135988 K. Thompkins October 30, 2014 Reduction of College Costs Are Essential â€Å"At a time when higher education has never been more important, it’s also never been more expensive. Over the last three decades, the average tuition at a public university has more than tripled.† This statement was said by President Barack Obama at a press conference about making college more affordable in June of 2014. This statement couldn’t be any more precise. The fact is that the cost of college, both public and private, is way too expensive and the costs are only rising. The government should work on lowering the growing cost of college because the effects of higher college costs have been nothing but detrimental for students and going to college is necessary for the future of our economy. The cost almost makes it a necessity for low income students to take out multiple loans to pay these increasing costs, only to run into financial crisis when these debts become due. Also because of the growing cost of college, students find themselves running into a cademic problems because of jobs that interfere with classes and assignments, but are needed just to pay bills such as housing and food. It’s obvious that if these costs were made more affordable, there would be less people without a college degree, therefore becoming more eligible for jobs in the workforce. Everyone is entitled to an education and everybody should be able to afford to attend public or even a top tier college. Recently, more and more high school graduates have been deciding to attend college. In these cutthroat companies, they can only hire low amounts of new employees and as the outcome; they must find the best applicant. Most likely, the chosen one is the one with an education from a four year university and this form of choosing has become a popular way of sorting resumes. Unfortunately, some students are denied the opportunity for such an education due to financial restraints. College graduates earn significantly more in their lifetimes as opposed to those who only have a high school degree. Employers are looking for more specialized skill sets from potential employers, but these skill sets can usually only be acquired through higher education. In the job market, those people who can’t afford a college education are usually behind those who can. The government needs to help subsidize or reduce tuition costs so more people have access to a college education. If more people had co llege educations, they would be able to get better paying jobs. When people have more money, they tend to spend more money, causing the economy to grow. Government subsidization of tuition could ultimately help the economy grow. College is a great investment, especially because it paves the way for your future career that will eventually become your lifestyle. However, unless your parents were able to put away a college fund, you would probably end up taking out a student loan. Today, easy credit from federal loan programs gives little motivation for colleges to keep tuition low, and many students borrow, only to come across financial debt when the loans come due. Delinquency rates on student loans reached 12% in 2013, higher than the 10% delinquency rate on mortgages at the height of the housing crisis in 2008-09. (Palacios, Miguel, and Andrew P. Kelly) And to make matters even worse, more than 40% of students who start a degree, can’t finish within 6 years and many borrowers cannot find a job to even afford the investment, according to Federal Reserve data and new federal data show that more than 650,000 federal student loan borrowers who entered repayment in 2011 defaulted on their loans by 2013. The federal student-loan system is no help, since lenders do not consider the likely return on degree programs when making loans, leaving students with no information about the value of different options. The standard 10-year repayment plan demands the heftiest percentage of a

Monday, October 21, 2019

Free Essays on Marketing Research

Proposal – Marketing Problem Background Brown-Forman Corporation is one of the largest American companies in the wind and spirits industry, Fetzer Vineyards is their largest winemaker. Revenue and gross profit for the beverage segment of Brown-Forman were up 11% and 14%, respectively, in fiscal 2004. However, the growth was driven by the premium spirits brands, and the gross profit from the company’s wine brands declined due to a drop in volume for both Fetzer and Bolla wines. There are many symptoms for why this decline has occurred. Health consciousness is a rising trend among Americans of all ages and the latest crazes are the low-carbohydrate diets. Recently, Fetzer has introduced into the market two new low-carbohydrate wines, a chardonnay and a merlot. Their premium spirits brands have not been affected by the new diets because bourbon, whiskey, rum, gin, and vodka all contain no carbohydrates. However, most mixers used to accompany these spirits usually contain a significant amount of carbohydrates. Introducing these new wines could offer a new choice, but not a substitute, for many dieters and at the same time give Brown-Forman the lead in this new market. In 2003, Brown-Forman announced that they were going to begin using organically grown grapes to make their wine. Fetzer Vineyards plans to have nearly all the grapes used in its four major labels grown organically by the end of 2010. According to Marc Jonna, buyer for the Whole Foods Market, â€Å"demand for organic wine is small, but a move by a major player like Fetzer could change that.† Women already perceive wine as a healthier alternative to other alcoholic beverages. This health conscious image will allow Brown-Forman to direct their marketing efforts in response to this cultural trend and penetrate the market by providing information through advertising about their new wine ingredients. Another symptom of the decrease in wine sales is due to the... Free Essays on Marketing Research Free Essays on Marketing Research Marketing requires good knowledge of what is supplied and what is demanded by the public. The definition of marketing is â€Å"all the activities which begin at the producer, and end at the consumer. According to Stanford University Career Development Center, marketing is the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational goals. In other words, the goals of marketing are to create supply and demand for a certain product or service. People are affected by marketing everyday of their lives, whether it is looking at TV commercials, billboards, or even receiving junk mail. Marketing is broken down into thirteen different areas: product marketing, brand management, marketing research, internet marketing, product support, strategic planning, advertising, public relations, promotions, corporate communication, physical distribution, sales, and retailing. All of these areas are tied into the activities of the producer, which is also known as the manufacturer of the product, the whole seller, which buys the products from the producer, and sells to the retailer, whom makes the sales to the consumer. Marketers must know how people think, and what their interests are. That’s why many marketing divisions will target certain individuals. An example of this would be an internet survey of what your favorite type of car is. This strategy is known as marketing research. Marketing research can help marketers be more persistent in selecting potential customers to buying their product or service. A major strategy of mass-marketing is the use of TV advertisements. This is probably the most effective way to target a large amount of people, in a short amount of time. A business gets fifteen seconds, on average, to prove that its product or service will benefit the viewers. This is how most TV stations make the... Free Essays on Marketing Research Product Manager Product manager is playing the main role in controlling the product management system. The product management system is designed to support capable product, which maintain a steady and proactive focus on the individual product. One of the most important features of the product management system is the existence of dedicated management personnel who take care of all aspects of the product. Product managers differ in authority, knowledge, and experience from organization to organization. Their titles may vary; these professionals may also be called "product group manager," "brand manager," or "product market manager." Main roles of product manager are as follows 1. Coordinating roles Product managers are responsible for coordinating home office, field, and international product activities; encouraging practical, integrative, and strategic solutions to business problems; and engendering a profit-, customer-, and opportunity-oriented management culture. 2.development of product Product manager plays a crucial role in the development of product. Better development of product increases the competitiveness, quality, customer satisfaction, and profitability. 3. Develops other managers In addition to more efficiently providing resources to the company’s individual products and markets, the product manager also develops a cohort of capable, experienced managers. Later on called to assume new corporate roles as general managers, regional officers, department heads, change agents, or task force leaders, they would develop the skills required to lead market-savvy activities, coordinate the efforts of a variety of departments, develop strategy, and perform planning activities. 4.main role in ensuring the product goal product manager has a high degree of responsibility for ensuring that product goals are met. 5. Leadership role They are assigned primarily administrative tasks which focus on op... Free Essays on Marketing Research Proposal – Marketing Problem Background Brown-Forman Corporation is one of the largest American companies in the wind and spirits industry, Fetzer Vineyards is their largest winemaker. Revenue and gross profit for the beverage segment of Brown-Forman were up 11% and 14%, respectively, in fiscal 2004. However, the growth was driven by the premium spirits brands, and the gross profit from the company’s wine brands declined due to a drop in volume for both Fetzer and Bolla wines. There are many symptoms for why this decline has occurred. Health consciousness is a rising trend among Americans of all ages and the latest crazes are the low-carbohydrate diets. Recently, Fetzer has introduced into the market two new low-carbohydrate wines, a chardonnay and a merlot. Their premium spirits brands have not been affected by the new diets because bourbon, whiskey, rum, gin, and vodka all contain no carbohydrates. However, most mixers used to accompany these spirits usually contain a significant amount of carbohydrates. Introducing these new wines could offer a new choice, but not a substitute, for many dieters and at the same time give Brown-Forman the lead in this new market. In 2003, Brown-Forman announced that they were going to begin using organically grown grapes to make their wine. Fetzer Vineyards plans to have nearly all the grapes used in its four major labels grown organically by the end of 2010. According to Marc Jonna, buyer for the Whole Foods Market, â€Å"demand for organic wine is small, but a move by a major player like Fetzer could change that.† Women already perceive wine as a healthier alternative to other alcoholic beverages. This health conscious image will allow Brown-Forman to direct their marketing efforts in response to this cultural trend and penetrate the market by providing information through advertising about their new wine ingredients. Another symptom of the decrease in wine sales is due to the...

Sunday, October 20, 2019

What Is the Distributive Property

What Is the Distributive Property SAT / ACT Prep Online Guides and Tips What is the distributive property? Did you go over the distributive property definition in school but still aren’t sure what it is or why it’s important? The distributive property is a key mathematical property you’ll need to know to solve many algebra problems. In this guide, we explain exactly what the distributive property is, why it’s important, when you should use it, what other math rules you need to know for it, and we also work through several examples so you can see the distributive property in action. What Is the Distributive Property? The distributive property, sometimes known as the distributive property of multiplication, tells us how to solve certain algebraic expressions that include both multiplication and addition. The literal definition of the distributive property is that multiplying a number by a sum is the same as doing each multiplication separately. In equation form, the distributive property looks like this: $a(b+c) = ab + ac$ (Remember, in math, when two numbers/factors are right next to each other, that means to multiply them.) Like many math definitions, the distributive property is easier to understand when you look at a few examples. Here’s a simple one: $$5 (2 +7)$$ Normally, if you had a problem like this, you’d add 2 and 7 together to get 9, then you’d multiply 5times 9 to get 45. This is the simplest way to solve the equation, and it also follows the order of operations, which tells you to simplify whatever is in the parentheses first before moving onto other operations like multiplication. Solving that equation using the distributive property would look like this: $$5 (2+7)$$ The distributive property means doing multiplication before the addition within the parentheses, so we’d distribute the 5 to both values within the parentheses: $$5(2) + 5(7)$$ Work out the multiplication: $$10 + 35$$ Then add the two numbers together: $$10+35=45$$ We get the same answer as we did solving the problem with the first method, which shows that the distributive property works. Now, why would you want to use the distributive property when it took longer than the first method? The distributive property comes in handy when you have terms within the parentheses that can’t be added together, such as this equation: ${3/4}(a + 2b)$. Because there are variables involved, there’s no easy way to simplify $a + 2b$. In these more complicated equations, the distributive property can help us get the equation into a form that makes it easier to simplify or solve. We’ll see examples of how to do this later on in this guide. 3 Key Rules Related to the Distributive Property When you’re using the distributive property, you’ll often have to use or be aware of other mathematical rules and properties in order to solve or simplify the equations. Here are three of the most important ones to know. Commutative Laws The commutative laws state that you can swap numbers when adding or multiplying and still get the same answer. So $x + y = y + x$ and $x(y) = y(x)$ These are likely intuitive for you by now, but they’re an important part of the distributive property, which wouldn’t work without them. You can use them when you need help simplifying certain equations in order to get them into a more workable form. Order of Operations When you have a complicated equation that looks like it can be simplified in multiple ways, the order of operations gives you the correct way to work through those operations. The acronym PEMDAS makes it easy to remember which operations to work on first. From first to last, here’s the order you should work out operations: Parentheses Exponents Multiplication and Division (do these at the same time, working left to right) Addition and Subtraction (do these at the same time, working left to right) The order of operations is important to know because you’ll often have to remember it when simplifying equations that include a lot of different operations. It can also help you determine whether to use the distributive property or not. Order of operations states the first step you should take when simplifying an equation is to work out whatever is in a parentheses set, but if what’s in the parentheses can’t be simplified, that’s a sign to use the distributive property. Quadratic Formula The quadratic formula states that, for $ax^2+ bx + c = 0$, the values of $x$ which are the solutions to the equation are given by: $$x={-b ±Ã¢Ë†Å¡{b^2-4ac}}/{2a}$$ When using the distributive property, you may be able to simplify some equations into the $ax^2 + bx + c = 0$ form so that you can use the quadratic equation to solve for $\bi x$. Distributive Property of Multiplication Example Problems In this section we go over three examples of simplifying problems using the distributive property. You’ll notice each of them contain variables in the parentheses, which is a key sign that the distributive property is needed. Example 1 $$\bo4\bi x(\bo5\bi x + \bo6) = -\bo7$$ First, we’re going to distribute $4x$ to both $5x$ and 6. $$4x(5x) + 4x(6) = -7$$ Now, multiply those out: $$20x^2+ 24x = 7$$ Add 7 to both sides: $$20x^2+ 24x +7 = 0$$ This equation is now in the proper formula to solve for $x$ using the quadratic formula (x would equal $-0.7$ and $-0.5$), or you might be able to keep the equation in that form if you were just being asked to simplify it. Example 2 $$\bo3\bi x(\bi x-\bo4) + \bo5(\bo4\bi x + \bo6)$$ For this equation, there are two sets of parentheses, so we need to use the distributive property twice. Distribute the 3x to its set of parentheses and the 5x to its set of parentheses: $$3x(x) + 3x(-4) + 5(4x) + 5(6)$$ Multiply it out: $$3x^2- 12x + 20x^2+ 30$$ Add the two $x^2$ terms together to simplify $$23x^2- 12x + 30$$ Example 3 $$-\bo7(\bi x + \bo4) + \bo8(\bo2 - \bo4\bi x)$$ This example is a bit trickier because the 7 has a negative sign in front of it. When the value just outside the parentheses is negative, the negative sign must be distributed to each term within the parentheses. Distribute the -7 to its set of parentheses and the 8 to its set of parentheses: $$(-7)(x) + (-7)(4) + (8)(2) + (8)(-4x)$$ Multiply those out: $$-7x -28 + 16 - 32x$$ Now simplify: $$-39x - 12$$ Summary: What Is the Distributive Property Definition? What is distributive property? The distributive property of multiplication states that $a(b+c) = ab + ac$. It’s often used for equations when the terms within the parentheses can’t be simplified because they contain one or more variables.Using the distributive property, you can simplify or solve equations that would otherwise be difficult to work with. When using the distributive property, remember to distribute negative signs if they’re in front of the parentheses, and keep in mind other important math rules, such as the quadratic formula, order of operations, and commutative properties. What's Next? Are you learning about logarithms and natural logs in math class? We have a guide on all the natural log rules you need to know. What is dynamic equilibrium and what does it have to do with rusty cars? Find out by reading ourcomplete guide to dynamic equilibrium. Rational numbers are another important math concept you should understand.Read our guide on rational numbers for everything you need to know about them!

Saturday, October 19, 2019

Answer the questions for each of the articles Quant and Quali Research Paper

Answer the questions for each of the articles Quant and Quali - Research Paper Example 53). The design is generally categorized under the major class of quantitative approaches to research. The major category of the design was experimental design. The random assignment of sampled subjects into a treatment and control group are identifiers characteristic of an experimental design (Sears et al., 2010, p. 53). An independent variable is a variable that the researcher has control over. In this case, the independent variable in the research was the mode of training adopted for nursing education. The manipulation of this variable was attained by assigning differing models of nursing education delivery, which included clinical simulation-based education and actual clinical placement. The dependent variable is the measured element of interest, which is affected in the research, and in this research the dependent variable was the medication errors (Sears et al., 2010, p. 52). Survey forms were used as the data collection instruments and these were filled by the instructors and students (Sears et al., 2010, p. 53). Observed medication errors were entered into forms that only bore the instructor’s name in order to preserve the confidentiality of the participating students. The external validity of the research was low because the research cannot be widely generalized. In spite of randomly selecting the participants, generalization cannot be possible for other populations and locations because all participants were from a single collaborative nursing program. This limitation reduces the external validity, but it can be overcome if the research could be replicated for different populations and locations across different times (Sears et al., 2010, p. 54). The second research titled â€Å"Whatever it takes": nursing students experiences of administering medication in the clinical setting† was authored by Happell, B. Walker, S. Moxham, L. and Reid-Searl, K. The research appeared in the seventh issue of the 20th volume of the

Friday, October 18, 2019

Job Brochure Essay Example | Topics and Well Written Essays - 1250 words

Job Brochure - Essay Example Additionally, it provides quality of life to patients, which is not provided by other hospitals, as well as provides fair wages. It also has plans to expand the facility in order to provide its services to patients better. It has trained and mentored staff members in order to make its clients or patients have full confidence on the facility. Additionally, it aims at providing ample services and treatment to their employees through treating them well, paying them reasonably as well as giving them time for recreation. There are also spacious rooms for individuals suffering from different conditions to ensure efficient and effective delivery of Bright Home services. There are a number of old people around the Bright House Nursing Home facility which helps boost its client base. However, in order to reduce its expenses, it has plans to purchase a new facility and renovate the Wayfield bed and breakfast. Its center location also helps in promoting its accessibility to all its clients arou nd as well as from other areas. Additionally, being a non-profit organization, as well as an alternative care model, it helps the facility to offer other self-oriented facilities at a good price. Therefore, it provides health care to its patients at affordable prices. Its main focus is to make sure its patients; especially old people get the quality health care to make sure they live a healthy life. The structure, culture and a business model of Bright House Nursing home offers services that are exceptional, cheap, of high quality and offered conveniently. All these services are offered to the customer on a clean, safe and friendly environment. Jones (2007), Chap 8, Pg,126 claims that the culture and structure of an organization coordinates and motivate employees to perform at a high level in team, group as well as in other departments. Additionally, it helps in solving problems that stems up from lack of cooperation, conflicts, and misguided goals. The above explained model, struct ure and culture of Bright Home, will allow the company to operate more effectively and efficiently. The Bright House Nursing Home structure and business model can be summarized as having the following elements; Dedication, Competence, moral and ethical values. I chose competence, because, in any business, what the employee does normally leads the business in to the market. Dedication can also be referred to as ethical and moral values, which drive the owner of the business to go beyond offering customer service in order to lead his employees into achieving his goals in a fast, competitive, and friendly manner. By being honest with the clients, it is the most unique value as well as important that any business can offer to the customers, of course with the best service, (Jones, 2007, Chap 8, Pg,128). Bright House Nursing Home has chosen to draw the attention of its clients who receive quality-oriented service and have the desire to satisfy the constant need of their patients as well as exceed their expectations (Jones, 2007, Chap 8, Pg, 130. However, in order to achieve the results Bright House Nursing Home is committed to offering exceptional services in an environment that is combined with employee retention and motivation. We also provide health care to the elderly, skilled nursing care which only employs qualified personnel, computerized medical

Discuss the impact of social media on traditional media in relation to Essay

Discuss the impact of social media on traditional media in relation to news production,delivery and consumption - Essay Example This role as well as the role of gatekeeper to information is being redefined in the light of social media usage patterns. This paper discusses how social media has influenced the way in which users consume and experience news as well as the ways in which traditional media organizations produce and distribute news content. The discussion in this paper highlights the challenges posed by social media to the authority of traditional media. It also identifies the opportunities for collaboration between the two. Social Media and User Engagement Crowe (2012) describes five types of user involvement in citizen journalism, with varying degrees of involvement and objective reporting. Blogs, discussion boards, tweets, etc. have become common tools to share news items within social networks. These tools allow users to create editorial content for others. Crowe (2012) argues that citizen journalism has had considerable effects of the traditional media in terms of profitability. He explains that although the content produced by citizen journalists does not go through the rigorous vetting of traditional media channels, the sites encouraging such form of journalism collect information from a large number of similar sources which results in validation of the information. This is particularly true in emergency situations when reporters may not arrive for some hours. Crowe (2012) notes that these developments have inspired traditional media organizations to collaborate with social media platforms for delivery of news content. Organizations entering into such collaborations include Newsweek and AOL. Changes in News Production The way in which news is produced on social media is dramatically different from the traditional methods of news production. Kerrigan and Graham (2010) note that the Internet and Web 2.0 technologies are having a huge impact on the production and consumption of regional and local news. In the social media environment, news is increasingly produced by blogger s and citizen journalists in a way that encourages the consumers to participate in the news generation process. On the other hand, in the traditional media, the production function is performed by the journalist and the news is then offered to the consumers as information. Kerrigan and Graham (2010) note that it is a competitive disadvantage for traditional regional news media if they do not exploit the potential for engaging readers in the production of local and regional news. Traditional media have been affected by reduced entry barriers and advertising share to more engaging social media sources. News consumers can act as reporters and editors of news content in the new media which leads them to prefer new media news sources over traditional ones. Thus, there is a need for traditional media sources to overcome resistance to change and embrace the new social media environment. The advent of social media has had considerable impact on the credibility and power of traditional news media sources. O’Connor (2012) notes that the role of traditional media as gatekeeper of information has been considerably weakened. In addition, the perception of a news media organization as a brand has eroded to some extent in favour of the personal branding enjoyed by citizen journalists, bloggers and others in the social media. O’

Thursday, October 17, 2019

Marketing Financial Services Essay Example | Topics and Well Written Essays - 2500 words - 2

Marketing Financial Services - Essay Example Hence, they started to follow and implement free trade policies that encourage multinational companies to enter into the global markets. Ultimately, overall market became competitive and matured. Monopoly market structure has become very rare and oligopoly becomes prominent. Hope and Maeleng have defined free trade policy as â€Å"competition-enhancing device† (Hope and Maeleng, 1998, p.52). The international and domestic countries started to compete with each other on price, better service, customer satisfaction etc for achieving greater market share. In this respect, to gain competitive advantage in market, the post modern organisations are using latest management tools, theories and models developed by many experts, critics and scholars. Financial services industry consist a number of financial services sectors like banking sectors, insurance, security market, factoring, credit ratings etc. With increased activities of trade and business and intensified competition, the imp ortance of these financial services sectors has grown significantly. This paper will attempt to present and SWOT analysis of American International Group (AIG) which is one the most popular financial service organisation. In order to indentify its major internal strengths and weaknesses, external opportunities and threats, this paper will analyse important areas of this organisation like its customer relationship managements, marketing tools used the company, major issues and its mechanism of control system. Finally, the overall findings of this paper will be summed up in the conclusion. Brief Overview of American International Group (AIG) American International Group Inc. (AIG) is one of the popular insurance services providers in US and in global market. Primarily, it is a New York-based company and it is considered to be one of the most prominent market leaders in global insurance sector. AIG is a multinational company and offers its insurance services in more than 130 countries in the world. The company has acquired a large base of customers and its consumers primarily consist of institutional, commercial and individual clients. The major market share of the company comes from its domestic market i.e. from United States. In this market, the AIG offer retirement services and life insurance. With better performance, it has acquired an upper hand position in U.S. insurance sector. Along with the domestic market, AIG’s stocks are also listed in Tokyo and Ireland Stock exchange (American International Group, Inc-a, 2011). While tracing the history of AIG, its primary origin is found in Shanghai, China during 1919. However, later during the 1940s due to political issues, the company withdrew from the Chinese market. â€Å"AIG abandoned China completely in 1949, as the Communist People’s Liberation Army, led by Mao Zeding, advanced on Shanghai† ( H.W. Wilson Company, 2000, p.247). In U.S., the AIG had been formed by consolidating three compan ies and its multiple affiliates. These leading three companies are New Hampshire Insurance Company, American Home Assurance Company and National Union Fire Insurance Company. Since its inception, AIG has undergone through many significant occurrences like mergers and acquisitions. SunAmerica Inc was merged with AIG on January 01, 1999. In November 2000, the company

Poetry Analysis Essay Example | Topics and Well Written Essays - 2500 words

Poetry Analysis - Essay Example Connotations: Rhyme scheme not regular, Sensuous imagery-the waves sound- lights falling etc. Romantic imagery. Historical reference to Sophocles. Irregular length of stanzas. Free verse. Language simple. Sea of Faith- image of a sad person. Pathetic fallacy- human feelings are attributed to sea. Light is gone- symbolizes uncertaininty. Sea of Faith- symbolizes religion. Adjectives- â€Å"tremulous cadence†, â€Å"note of eternal sadness†. Attitude: The poem opens with a romantic tone. The melancholic note is added as the poet reflects on the nature of human life. Sadness and sorrowful. â€Å"Ah† indicates pain and â€Å"let us be true† indicates acceptance. Theme: The poem is about maturity and reflects the poet’s understanding of life. Life brings sadness. Like the beach is beautiful but the melancholic note can be heard. Similarly love is beautiful but it brings with itself miseries, sorrow and loneliness. Title: Poem appears to be about the dreams that have not been fulfilled. The alliterative â€Å"d† in the title give a hard impression which prepares the reader for the harsh consequences of the dreams that have been left unfulfilled. Paraphrasing: The poet questions about the end result of such dreams that have been left unfulfilled. He asks if they become dry, sore or rotten. He compares them with a dry raisen or like a sore. He indicates that unfulfilled dreams can cause social and political damage. Connotations: Short. Alliterative â€Å"d†- to stress harshness. Dreams deferred are compared to dry raisen, sore etc. Symbolism: dream could be American dream or negro aspirations. Hot sun- circumstances. Images of decay and waste to symbolize the dreamer’s fate. Title: Is aptly used since it discusses the consequences of the unfulfilled dreams. The dream could be the American dream of success that attracts many. Or the fate of black people in America victimized racially and socially. Theme: The poem is about dreams

Wednesday, October 16, 2019

Marketing Financial Services Essay Example | Topics and Well Written Essays - 2500 words - 2

Marketing Financial Services - Essay Example Hence, they started to follow and implement free trade policies that encourage multinational companies to enter into the global markets. Ultimately, overall market became competitive and matured. Monopoly market structure has become very rare and oligopoly becomes prominent. Hope and Maeleng have defined free trade policy as â€Å"competition-enhancing device† (Hope and Maeleng, 1998, p.52). The international and domestic countries started to compete with each other on price, better service, customer satisfaction etc for achieving greater market share. In this respect, to gain competitive advantage in market, the post modern organisations are using latest management tools, theories and models developed by many experts, critics and scholars. Financial services industry consist a number of financial services sectors like banking sectors, insurance, security market, factoring, credit ratings etc. With increased activities of trade and business and intensified competition, the imp ortance of these financial services sectors has grown significantly. This paper will attempt to present and SWOT analysis of American International Group (AIG) which is one the most popular financial service organisation. In order to indentify its major internal strengths and weaknesses, external opportunities and threats, this paper will analyse important areas of this organisation like its customer relationship managements, marketing tools used the company, major issues and its mechanism of control system. Finally, the overall findings of this paper will be summed up in the conclusion. Brief Overview of American International Group (AIG) American International Group Inc. (AIG) is one of the popular insurance services providers in US and in global market. Primarily, it is a New York-based company and it is considered to be one of the most prominent market leaders in global insurance sector. AIG is a multinational company and offers its insurance services in more than 130 countries in the world. The company has acquired a large base of customers and its consumers primarily consist of institutional, commercial and individual clients. The major market share of the company comes from its domestic market i.e. from United States. In this market, the AIG offer retirement services and life insurance. With better performance, it has acquired an upper hand position in U.S. insurance sector. Along with the domestic market, AIG’s stocks are also listed in Tokyo and Ireland Stock exchange (American International Group, Inc-a, 2011). While tracing the history of AIG, its primary origin is found in Shanghai, China during 1919. However, later during the 1940s due to political issues, the company withdrew from the Chinese market. â€Å"AIG abandoned China completely in 1949, as the Communist People’s Liberation Army, led by Mao Zeding, advanced on Shanghai† ( H.W. Wilson Company, 2000, p.247). In U.S., the AIG had been formed by consolidating three compan ies and its multiple affiliates. These leading three companies are New Hampshire Insurance Company, American Home Assurance Company and National Union Fire Insurance Company. Since its inception, AIG has undergone through many significant occurrences like mergers and acquisitions. SunAmerica Inc was merged with AIG on January 01, 1999. In November 2000, the company

Tuesday, October 15, 2019

No city in the world has been designed for and by the automobile as Essay

No city in the world has been designed for and by the automobile as has Los Angeles - Essay Example Seemingly, the nature and design of its city has adopted similar trends. To a large extent, its distinctive features are reflective of the auto-culture that the respective society has assumed. To begin with, the land use practices in the city of Los Angeles underscore the fact that the locals place great emphasis on the use of vehicles. In this respect, Bottles indicates that the central business district of Los Angeles has allocated up to 79% of its total area to packing facilities, garages and streets (Bottles 33). These facilities imply that a significant percentage of the inhabitants use vehicles. The sidewalks on the other hand have shrunk significantly as very few pedestrians use them. Certainly, the high use of automobiles greatly influences the urban land use decisions that are developed, implemented and enforced by the relevant authorities. Another indicator of automobile dominance in Los Angeles pertains to the increase of traffic congestion in the region. Transport and urban reports of this nation cite traffic congestion as one of the main problems that Los Angeles is currently grappling with. Although intervention measures such as improvement and expansion of the road system network have been undertaken in the recent past, the problem still persists. Relevant authorities are still taking measures to address this issue through construction of more freeways. Comparatively, these require less space than the current road network structure. The emergence and flourishing of relative automobile industries is also indicative of increasing dominance of the automobile culture. In this respect, Bottles indicates that gas stations have increased significantly, repair and auto parts stores and several other automobile dealership has increased (Bottles 47). This trend ascertains that the population greatly values the automobile. These seek to respond to the increasing and changing needs of the users. To a great extent, this also seeks to offer new

Monday, October 14, 2019

Obesity Amongst Mexican Children Essay Example for Free

Obesity Amongst Mexican Children Essay Abstract: The prevalence of overweight children in the United States of Mexican descent is higher for second generation than their first generation counterparts. First generation immigrants tend to keep a healthier lifestyle by consuming more fresh fruits and vegetables, walking longer distances and smoking less than the more acculturated Mexican-Americans. Acculturation is a major contributing factor for the alarming rates of obesity within Mexican children. When children of Mexican immigrants are exposed to American society, they develop unhealthy habits such as eating pizza and hot dogs during school lunch hours, access to vending machines, and media exposure where they are constantly bombarded with food related commercials of unhealthy nature. A lower socio-economic status, such as the recently immigrated parents, is also a contributing factor for obesity within Mexican children. High calorie and high fat content foods tend to be less expensive than fresh fruits and fresh vegetables, leading to poorer, unhealthier choices. Fast food chains are prohibitory expensive in Mexico, whereas in the US they are not. As young Mexican children develop their sense of identity while they separate from their parents or caregivers and seek acceptance from their American peers, they integrate themselves into the fast food culture leading to obesity amongst Mexican-American children of second generation in the US. The incidence of obesity in Mexican adults has increased markedly over the years. Data from the 1993 National Survey of Chronic Diseases (Encuesta Nacional de Enfermedades Cronicas) showed an obesity prevalence of 21. 5%. The 2000 National Health Survey (Encuesta Nacional de Salud) indicated that 24% of adults suffered obesity. Data from the 2006 National Health and Nutrition Survey (ENSANUT 2006) revealed that 30% of adults of both sexes were obese. (Rojas,R, Aguilar-Salinas, C. , Jimenez, A. , Gomez, F. , Barquera, S. , 2012, p. 8) In the last two decades, the prevalence of childhood obesity, defined as at or above the 95th percentile of body mass index (BMI) for age and gender (Center for Disease Control, 2009), has more than doubled among children aged 6–11 years and tripled among adolescents aged 12–19 years, and here is no evidence that this trend is coming to an end (Ogden, 2002). This is a serious public health concern because obese children and adolescents are at an increased risk for various physical, mental, and emotional health problems, including impaired glucose tolerance , insulin resistance, atherosclerosis , coronary heart disease in adulthood , development of eating disorders, and low self-esteem (Seo, D. Sa, J. , 2009). The obesity epidemic disproportionately affects racial/ethnic minority children, who are defined as American Indian, Alaska Native, Asian American, Black, African American, Hispanic, Latino, Native Hawaiian, or OBESITY AMONGST MEXICAN CHILDREN: ARE FIRST GENERATION MEXICAN CHILDREN 3 MORE PRONE TO OBESITY THAN THEIR SECOND GENERATION COUNTERPARTS? other Pacific Islander (CDC, 2009). According to estimates based on the 2001–2002 National Health and Nutrition Examination Survey (NHANES), among children aged 6–19 years, 22. 2% of Mexican American children and 20. 5% of non-Hispanic Blacks were obese as compared with only 13. 6% of non-Hispanic whites. Other studies performed by Ogden and colleagues (2002) also affirm a larger prevalence of obesity among Mexican American and Black children compared with white children. These rates of obesity are far from the 2010 national health objective of Healthy People 2010. The higher incidence of obesity among minority children is alarming because these racial/ethnic groups have a lower insulin sensitivity than white children (Seo, D, Sa, J. 2009). Obesity is an epidemic facing millions of people across the globe, resulting in more than 300,000 deaths in the United States alone (Dishman, 2004). Historically, the majority of people affected by obesity were adults. However, in the last decade this epidemic has spread to our youth. Excess weight in U. S. children has increased in prevalence and has become a serious public health concern. Currently, about 33% of children ages 2–5 in the U. S. are overweight (BMI in the 85th percentile or above), and 12% are considered obese (BMI in the 95th percentile or above) (CDC, 2009). Overweight children have a 70–80% chance of becoming overweight or obese adults, which may lead to an increase in obesity related disease among adults (United States Department of Human Health and Services, 2007). Obesity is one of the leading risk factors for disease and fatal health conditions, such as hypertension, type II diabetes, coronary heart disease, stroke, gallbladder disease, osteoarthritis, sleep apnea and respiratory problems, and some cancers (CDC, 2009). Not only is obesity linked to clinical conditions, but it may also lead to mental health problems such as self-blame and low self-esteem ( Haboush, A., Phebus, T. , Tanata Ashby, D. , Zaikina-Montgomery, H. , Kindig, K. , 2011). This paper will focus on the contributing factors for the alarming obesity rates amongst Mexican children. Are second generation Mexican children more prone to obesity than their first generation counterparts? Mexican immigrant parents usually don’t view obesity as a threatening health issue. In fact, some research reports that Mexican mothers see childhood obesity as a sign of good heath (Rosas et al. ) and thinness as a sigh of illness (Sosa, 2012). Acculturation, or the process of adjusting to a new culture, describes social, psychological, and behavioral changes that an individual undergoes as result of immigration (Buttenheim, A. , Pebley, A. , Hsih, K. , Chung, C. , Goldman, N. , 2012). The drastic changes in lifestyle and social interactions that immigrants encounter upon arriving to the United States often put them at risk for negative health consequences (Ogden et al. , 2009). Of the negative health outcomes associated with OBESITY AMONGST MEXICAN CHILDREN: ARE FIRST GENERATION MEXICAN CHILDREN 4 MORE PRONE TO OBESITY THAN THEIR SECOND GENERATION COUNTERPARTS?acculturation in Mexican children, obesity is significant because it has implications for development of chronic diseases such as heart disease and Type II Diabetes (CDC, 2009). Mexican children are at increased risk for obesity upon immigration to the United States and are predisposed to development of chronic diseases,(Buscemi, J. , Beech, B. , Relyea, G. , 2011). Mexican American mothers’ views on obesity, 40% of mothers with overweight children did not identify overweight as a health issue (Ariza et al. , 2004). When weight was used as an indicator of health, parents were more concerned with the health of skinny children than overweight children. Mexican American mothers were concerned with having thin children because a thin child could become sick and die (Small, L. , Melnyk, B. , Anderson-Gifford, D. , Hampl, J. 2009). A second and less studied mechanism linking nativity of US immigrants to obesity risk is the interconnectedness of the food environment and migration dynamics in the sending country (Buttenheim et al. , 2012). This is particularly relevant in the case of obesity risk for Mexican-origin children in the US, given the large, circular migration flows between the two countries and the well-documented nutrition transition underway in Mexico (Popkin Udry, 1998). This transition is characterized by a shift from unprocessed and low energy density diets to highly processed, energy dense foods. The transition is due in part to new food marketing strategies and a simultaneous decrease in physical activity that has accompanied urbanization and economic development in Mexico (Popkin Udry, 1998). Mexico’s nutrition transition has been notably rapid: Mexico now has the second highest rates of adult obesity among OECD (Organization for Economic Co-operation and Development) countries (after the US) (Rosas, 2011). A potential explanation for the increased obesity rates within the Mexican immigrants in the US is acculturative stress (Van Hook et al. , 2011). Mexican-origin immigrants, are often faced with discrimination based on race/ethnicity and immigrant status. This discrimination, in turn, leads to chronic stress and psycho-physiological stress responses, which are known to affect health over the long run . Thus, the process of integration into a society that views Mexican-origin immigrants as being of lower status than other social and racial/ethnic groups may itself result in chronic health problems, even if health behaviors remain constant over time and across immigrant generation. Why would duration of time in the US and immigrant generation affect obesity? The acculturation literature has emphasized the importance of dietary changes by duration in the US and across generation: increased acculturation is hypothesized to lead to decreased consumption of healthy foods and increased consumption of processed high OBESITY AMONGST MEXICAN CHILDREN: ARE FIRST GENERATION MEXICAN CHILDREN 5 MORE PRONE TO OBESITY THAN THEIR SECOND GENERATION COUNTERPARTS? fat/sugar foods. Gordon-Larsen et al. (2003) reported that first generation Mexican immigrant adolescents eat more rice, beans, fruit, and vegetables and less cheese and fast food than second generation Mexican-origin immigrants. Kaiser and colleagues (2007) say that acculturation seems to be a contributing factor for obesity amongst Mexican children. Acculturation can be defined as the process by which immigrants adopt the attitudes, values, customs, beliefs, and behaviors of a new culture. Two studies reported their findings on acculturation and potential implications on the nutritional status of Mexican American children. Kaiser and colleagues (2007) concluded that less acculturated mothers were more likely to provide alternate food choices when a child would not eat and use child-feeding strategies that may contribute to childhood overweight, such as bribes, threats, and punishment. Ariza, Chen, Binns, and Christoffel (2004) conducted a study to test their hypothesis that overweight was more prevalent in highly acculturated Mexican American children aged 5 to 6 years; however, the results did not substantiate an association between overweight and acculturation in this population. Duerksen and colleagues (2007) reported that increased levels of acculturation may lead to higher rates of overweight among Mexican American families if they were eating more meals at fast-food and buffet-style restaurants rather than selecting traditional, authentic Mexican restaurants. Studies indicated that less acculturated Mexican Americans consumed less fat, and more fiber, protein, vitamins A, C, E and B6, folate, calcium, potassium, and magnesium than their more acculturated counterparts (Rosas et al. 2011). Most research conducted across age groups and outcomes indicates that newly-arrived and less acculturated immigrants are healthier and live longer than natives. Unfortunately, this health advantage dissipates with duration of U. S. residence and does not extend to the next generation. In addition to the influence of parents’ acculturation on children’s behaviors, children can accelerate the acculturation process for their families as well because children are more likely to have a consistent exposure to typical American foods at school and likely to affect purchasing decisions of their parents. One of the biggest changes in children’s diets after moving to the United States has been suggested to be with the foods children consume at school. It has been reported that although Mexican American children liked the traditional ethnic foods they received at home, they preferred the American foods they were served at school (e.g. , pizza, hamburgers) (Rosas et al. 2011). Furthermore, there seemed to be a lack of awareness among children about the healthfulness of traditional Mexican foods (such as fruits, vegetables, and beans) or potential health risks of the typical American diet, which was perceived as pizza, hotdogs, hamburgers, and French fries. As children develop their own self and ethnic identities, they may seek separation from their parents and acceptance from their peers, and they may identify fast food and other less healthful food options with the United States culture. This can eventually lead to less healthful dietary patterns both for children and their families because children are likely to affect food-purchasing OBESITY AMONGST MEXICAN CHILDREN: ARE FIRST GENERATION MEXICAN CHILDREN 6 MORE PRONE TO OBESITY THAN THEIR SECOND GENERATION COUNTERPARTS? decisions in their households (Rosas et al. 2011). When looking into the influence of acculturation on food intake behaviors among children and youths, another important element of the social environment must be addressed: media exposure. Media exposure can have detrimental influences at both ends of the spectrum in terms of eating behaviors: children may adopt an unrealistically thin body image through exposure to popular culture, and unhealthy dieting practices or eating disorders may follow. Alternatively, they may increase their consumption of nutrient-poor, energy-dense foods that they are exposed to through advertisements, and this type of behavior may eventually lead to overweight status. There have been some initiatives to limit food marketing aiming at children, but nutritionally poor and energy dense foods (e.g. , high sugar cereals, candy, soft drinks, chips) still constitute the majority of the foods advertised on television (Kunkel et al. 2009). Several reports indicate that children choose advertised foods at significantly higher rates and attempt to influence their parents to purchase these foods. Unfortunately, advertisement of the nutritionally inferior food choices is not limited to television only; it is widespread through a variety of channels such as schools (vending machines, corporate sponsorship of school events and materials, etc. ), and online applications(e.g. , interactive games, sweepstakes, computer screensavers). Media exposure among children has been increasing over the past 10 years, and according to the 2009 estimates (Kunkel et al. 2009). American children spend about 7. 4 hours per day using or watching media such as television, computers, video games or movies. These estimates seem to be even higher among minorities) and individuals with lower socio economical status( SES) (Sussner et al. 2009). Hispanic youths were reported to spend about 5. 5 hours per day watching television while this estimate was 3. 5 hours per day for non-Hispanic whites in 2009. Moreover, screen time seems to increase with greater acculturation (Gordon-Larsen et al. 2003). The data from the 2003–04 National Survey of Children’s Health indicated that, in comparison to U. S. -born non-Hispanic white children with U. S. -born parents, foreign-born Hispanic children with immigrant parents were 31 percent more likely and U. S. -born Hispanic children with U. S. -born parents were 51 percent more likely to watch television. Although foreign-born Hispanics seem to be less likely to consume less healthful foods (Osypuk et al.2009), a reverse trend can be seen if these foods are more expensive in the country of origin but cheaper in the United States. For example, qualitative studies indicated that lower cost and increased availability were among the reasons for Mexican Americans to consume snacks, sweets, and fast food more in the United States . An earlier report pointed out that some foods, such as mayonnaise, margarine, and salad dressing were considered high-status items by many low-income families in Latin America (Romero-Gwynn et al. 1993). Similarly, Mexican adults living in Florida reported that in addition to fast food not being as readily available in their native country, it was more expensive than in the United States and therefore, they tended to eat fast food only for special occasions in their native OBESITY AMONGST MEXICAN CHILDREN: ARE FIRST GENERATION MEXICAN CHILDREN 7 MORE PRONE TO OBESITY THAN THEIR SECOND GENERATION COUNTERPARTS? country. Once these types of foods become more readily available and affordable for the immigrants in the United States, an increase in the consumption levels would be expected. Lower costs, widespread availability, and the convenience of fast food in the United States appear to be an enticing solution especially for time-strapped immigrant families with children (Lindsay et al. 2009). Qualitative studies among immigrants suggest a more relaxed lifestyle in Mexico versus a very busy lifestyle in the United States that leaves less time to cook or prepare foods. This type of lifestyle makes convenience foods very appealing, and it is likely to result in an increase in fast food consumption (Gray et al. 2005). In addition to the economic conditions related to the food environment, limited socioeconomic abilities of individuals also put immigrants at greater risk for unhealthy food intake patterns and entailing health issues. Higher rates of food insecurity and low SES among minorities and immigrants are likely to force individuals to purchase relatively cheaper and filling, but often nutrient-poor, energy-dense foods (Drewnowski and Darmon 2005). A binational study that was conducted in the United States and Mexico provided support for these eating patterns, and it also pointed out the country- or culture-specific variations in these associations. In the United States sample of this study, children with food insecurity were more likely to consume fat, saturated fat, sweets, and fried snacks compared to their food secure counterparts. In Mexico, however, food insecure (versus food secure) children displayed a different food intake pattern that was characterized by higher intakes of carbohydrates, dairy, and vitamin B6 (Rosas et al. 2009). One of the least studied aspects of the relationship between socioeconomic factors and food intake is the residential context and demographic makeup of the neighborhoods. One of the few studies that examined this context in a mostly Hispanic (but mixed ethnic) sample suggested that greater density of immigrants in residential areas was positively related to fruit and vegetable intake after controlling for individual factors such as age, race/ethnicity, language, country of birth, and education (Dubowitz et al. 2008). Another study also reported that high-fat/processed food intake (fats, oils, processed meats, fried potatoes, salty snacks, desserts) was lower in immigrant-dense neighborhoods even after controlling for SES, demographic factors, and acculturation (Rosas et al.2011). These results indicate beneficial dietary intake patterns for all residents (immigrant or not) residing in that area. Some of the potential factors underlying these results could be resulting from socioeconomic advantages through greater social capital, availability of stores with healthier ethnic food options, and higher consumption of healthier food intake habits, social norms, and values in the ethnically dense neighborhoods (Dubowitz et al. 2008). OBESITY AMONGST MEXICAN CHILDREN: ARE FIRST GENERATION MEXICAN CHILDREN 8 MORE PRONE TO OBESITY THAN THEIR SECOND GENERATION COUNTERPARTS? Highly acculturated Hispanic adults were more likely to have higher BMIs than their less acculturated counterparts. Similarly, second or third generation Hispanic youths were reported to be more likely overweight than their first generation counterparts (Popkin and Udry 1998). For adults, the difference in the overweight status by acculturation seems to be seen usually in a range of 10 to 21 years of residence in the United States, but interestingly, BMI differences were detectable by age two among less acculturated mothers’ children in a mostly Hispanic sample (Sussner et al. 2009). Some of the mechanisms underlying these findings could be the existence of cultural beliefs that associate overweight status among children with perception of good health (Sussner et al. 2009), failing to recognize overweight status, or acceptance of a larger body size as a desirable body image among Hispanics. Taken together, these cultural preferences can lead to obesity over time with the additional contribution of the typical environment in the United States that stimulates consumption of energy-dense foods and discourages physical activities. Certain food intake patterns (e. g., energy-dense foods) can lead to overweight or obese status as people acculturate. Although a factor analysis of nationally representative data from the NHANES 2001–02 did not indicate a specific dietary intake pattern in relationship to BMI or waist circumference (as measures of overall or central adiposity) among Mexican Americans (Carrera et al. 2007), it is possible that dietary intake might be related to obesity indirectly, or collectively with other lifestyle factors (e. g. , physical activity). It is also possible that the effects might be most pronounced at specific time periods during acculturation. Supporting this potential mechanism is the results from the National Longitudinal Study of Adolescent Health indicating that increased probability of overweight, which was related to changes in lifestyle factors (i. e. , screen time, diet), was detectable among first generation Mexican adolescents but not among second (or more) generation participants (Gordon-Larsen et al. 2003). Although social economic status (SES) is also linked to obesity, this association seems to vary depending on the SES measures used and also by race or ethnicity. For example, in a nationally representative sample of children, both education and income were negatively related to BMI among non-Hispanic whites, but only income was positively related to BMI among Hispanics (Balistreri and Van Hook 2009). As suggested by the authors, increasing education level may be a reflection of changes in knowledge, learning abilities, social class, and personal skills while higher income among immigrants might be an indicator of greater purchasing capacity, which can result in less healthful eating patterns in the absence of adequate nutrition knowledge, skills, and a healthful food environment. SES also seems to have gender-specific and long-term consequences. Data from a nationally representative longitudinal survey among adolescents indicated that there was a strong positive association between long-term (persistent) low SES and obesity among females. Among males, however, obesity rates were highest among those who had a socioeconomically disadvantaged beginning but gained autonomy, for example, home ownership later on. Most importantly, the report pointed out that the effect of SES on OBESITY AMONGST MEXICAN CHILDREN: ARE FIRST GENERATION MEXICAN CHILDREN 9 MORE PRONE TO OBESITY THAN THEIR SECOND GENERATION COUNTERPARTS?obesity was probably initiated before adolescence (Scharoun-Lee et al. 2009). Conclusion: The research has shown that second generation Mexican children are in fact more prone to obesity than their first generation counterparts. Causative factors such as media exposure, school lunch programs, socio-economic factors, and the influence of parents’ own acculturation into American society are all factors that can be addressed through various means with legislative, policy changes, and education. Then we can begin to affect positively the rising trend of obesity in second generation Mexican children in the United States. OBESITY AMONGST MEXICAN CHILDREN: ARE FIRST GENERATION MEXICAN CHILDREN 10 MORE PRONE TO OBESITY THAN THEIR SECOND GENERATION COUNTERPARTS? References: Abraido-Lanza, A. , White, K. , Vasques, E. (2004)Immigrant populations and health. In: Anderson N, editor. Encyclopedia of health and behavior. Newbury Park, CA: Sage; 2004. p. 533–537. Ariza, A. J. , Chen, E. H. , Binns, H. J. , Christoffel, K. K. (2004). Risk factors for overweight in 5 to 6-year old Hispanic American children: A pilot study. Journal of Urban Heath, 81 (1), 150-161. Balistreri, K. , Van Hook, J. (2007). Maternal employment and overweight among Hispanic children of immigrants and children of natives. Journal Of Immigrant Minority Health, 11(3), 158-167. doi:10. 1007/s10903-007-9096-0 Buscemi, J. , Beech, B. , Relyea, G. (2011). Predictors of obesity in Latino children: acculturation as a moderator of the relationship between food insecurity and body mass index percentile. Journal Of Immigrant Minority Health, 13(1), 149-154. Buttenheim, A. , Pebley, A. , Hsih, K. , Chung, C. , Goldman, N. (n. d. ) ( 2012) The shape of things to come? Obesity prevalence among foreign-born vs. US-born Mexican youth in California. Social Science Medicine, doi:10. 1016/j. socscimed. 2012. 10. 023 Carrera, P. , Gao, X. , Tucker, K. (2007). A study of dietary patterns in the mexican-american population and their association with obesity. Journal Of The American Dietetic Association, 107(10), 1735-1742. Centers for Disease Control and Prevention. Healthy Weight. About BMI for Children and Teens: What is a BMI percentile? Available at: http://www. cdc. gov/healthyweight/assessing/bmi/childrens_bmi/about_childrens_bmi. html. Accessed May 19, 2009. Centers for Disease Control and Prevention (2009). Defining overweight and obesity. Atlanta, GA: Centers for Disease Control and Prevention. http://www. cdc. gov/nccdphp/dnpa/obesity/ childhood/defining. htm. Accessed April 1, 2009. Dishman, R. K. , Washburn, R. A. , Heath, G. (2004). Physical activity epidemiology (p. 30). United States: Human Kinetics Publishers. OBESITY AMONGST MEXICAN CHILDREN: ARE FIRST GENERATION MEXICAN CHILDREN 11 MORE PRONE TO OBESITY THAN THEIR SECOND GENERATION COUNTERPARTS? Duerksen, S. , Elder, J. , Arredondo, E. , Ayala, G. , Slymen, D. , Campbell, N. , B. , Baquero(n. d). Research: Family Restaurant Choices Are Associated with Child and Adult Overweight Status in Mexican-American Families. Journal Of The American Dietetic Association, 107849-853. doi:10. 1016/j. jada. 2007. 02. 012 Drewnowski, A. Darmon, N. (2005). Food Choices and Diet Costs: an Economic Analysis. The Journal of Nutrition. . April 1, 2005 vol. 135 (4) 900-904. Dubowitz, T. , Heron, M. , Bird, C. , Lurie, N. , Finch, B. , Basurto-Davila, R. , Escarce, J. (2008). Neighborhood socioeconomic status and fruit and vegetable intake among whites, blacks, and Mexican Americans in the United States. American Journal Of Clinical Nutrition, 87(6), 1883-1891. Encuesta Nacional de Enfermedades Cronicas. Mexico, DF:Secretaria de Salud, 1993. Encuesta Nacional de Salud 2000. La Salud de los Adultos. Mexico:Instituto Nacional de Salud Publica, 2003. Gordon-Larsen, P. , Harris, K. , Ward, D. , Popkin, B. (2003) Exploring increasing overweight and its determinants among Hispanic and Asian immigrants to the US: The National Longitudinal Study of Adolescent Health. Social Science Medicine 57:2023-34. Gray, V. B. , Cossman, J. S. , Dodson, W. L. , Byrd, S. H. (2005). Dietary acculturation of Hispanic immigrants in Mississippi. Salud Publica De Mexico, 47(5), 351-360. Haboush, A. , Phebus, T. , Tanata Ashby, D. , Zaikina-Montgomery, H., Kindig, K. (2011). Still unhealthy 2009: building community research to identify risk factors and health outcomes in childhood obesity. Journal Of Community Health, 36(1), 111-120. doi:10. 1007/s10900-010-9288-8. Healthy People 2010: Understanding and Improving Health (2nd edition), US Department of Health and Human Services, Washington, DC (2000) Available at http://www. healthypeople. gov/document/html/objectives/19-03. htm Accessed May 19, 2009 Kaiser, L. , Melgar-Quinonez, R. , Lamp, C. , Johns, M. , Harwood, J. (2001)Acculturation of Mexican-American Mothers Influences Child Feeding Strategies. Journal of the American Dietetic Association. 2001;101(5):542–47. OBESITY AMONGST MEXICAN CHILDREN: ARE FIRST GENERATION MEXICAN CHILDREN 12 MORE PRONE TO OBESITY THAN THEIR SECOND GENERATION COUNTERPARTS? Kunkel, D. , McKinley, C. , and Wright, P. (2009) The Impact of Industry Self-Regulation on the Nutritional Quality of Foods Advertised on Television to Children. Ogden C, Flegal K, Carroll M, and Johnson C. 2002. Prevalence and trends in overweight among US children and adolescents, 1999-2000. Journal of American Medical Association 288 (14):1728. Osypuk, Theresa L. , Ana V. Diez Roux, Craig Hadley, and Namratha R.Kandula. 2009. Are immigrant enclaves healthy places to live? The Multi-ethnic Study of Atherosclerosis. Social Science Medicine 69:110-120. Popkin, B. M. , Udry, J. (1998). Adolescent obesity increases significantly in second and third generation U. S. immigrants: The Journal Of Nutrition, 128(4), 701. Rojas-Martinez, R. , Aguilar-Salinas, C. , Jimenez-Corona, A. , Gomez-Perez, F. , Barquera, S. , Lazcano-Ponce, E. (2012). Prevalence of obesity and metabolic syndrome components in Mexican adults without type 2 diabetes or hypertension. Salud Publica De Mexico, 54(1), 7-12. Romero-Gwynn, E. , D. Gwynn, L.Grivetti, McDonald, G. Stanford, B. Turner, E. West, and E. Williamson (1993). Dietary acculturation among Latinos of Mexican descent. Nutrition Today July/August: 6-12. Rosas, L. , Guendelman, S. , Harley, K. , Fernald, L. , Neufeld, L. , Mejia, F. , Eskenazi, B. (2011). Factors associated with overweight and obesity among children of Mexican descent: results of a binational study. Journal Of Immigrant Minority Health, 13(1), 169-180. Small, L. , Melnyk, B. , Anderson-Gifford, D. , Hampl, J. 2009). Exploring the meaning of excess child weight and health: shared viewpoints of Mexican parents of preschool children. Pediatric Nursing, 35(6), 357-366. Thorpe, L. , List, G Childhood obesity in New York City elementary school students American Journal of Public Health, 94 (2004), pp. 1496–1500 US Department of Health and Human Services 19–3: Reduce the proportion of children who are overweight or obese United States Department of Health and Human Services (2007). OBESITY AMONGST MEXICAN CHILDREN: ARE FIRST GENERATION MEXICAN CHILDREN 13 MORE PRONE TO OBESITY THAN THEIR SECOND GENERATION COUNTERPARTS? The surgeon general’s call to action to prevent and decrease overweight and obesity. Web site. http://www.surgeongeneral. gov/topics/obesity/calltoaction/fact_adolescents. htm. Accessed January 15. Van Hook, J. , H. , Baker, E. , Altman, C. , Frisco, M. Canaries in a coalmine: Immigration and overweight among Mexican-origin children in the US and Mexico. Social Science Medicine, 74125-134. doi:10. 1016/j. socscimed. 2011. 10. 007. Scharoun-Lee, M. , Kaufman, J. , Popkin, B. , Gordon-Larsen, P. (2009). Obesity, race/ethnicity and life course socioeconomic status across the transition from adolescence to adulthood. Journal Of Epidemiology Community Health, 63(2), 133-139. doi:10.1136/jech. 2008. 075721 Seo, D. , Sa, J. (2010). A Meta-Analysis of Obesity Interventions Among U. S. Minority Children. doi:10. 1016/j. jadohealth. 2009. 11. 202 Sosa, E. T. (2012). Mexican American Mothers’ Perceptions of Childhood Obesity: A Theory-Guided Systematic Literature Review. Health Education Behavior, 39(4), 396. doi:10. 1177/1090198111398129 Sussner, K. , Lindsay, A. , Peterson, K. (2009) Research: The Influence of Maternal Acculturation on Child Body Mass Index at Age 24 Months. Journal Of The American Dietetic Association, 109218-225. doi:10. 1016/j. jada. 2009. 10. 056.

Sunday, October 13, 2019

Winds of Change: From Vendor Lock-in to the Meta Cloud

Winds of Change: From Vendor Lock-in to the Meta Cloud Introduction: A software requirement specification is a complete explanation of the system that is to be created. Software requirement specification includes non-functional and functional requirements. Use case technique can be used in prepared to identify the functional requirements of the software inventions. Non-functional requirements are requirements which force constraints on the implementation and design. As systems grew more complex, it becomes more apparent that the goal of the entire system can’t be easily included. The software requirement specification consists of two important activities. Problem/Requirement investigation Product Function summary Security is one of the most important points in wireless communication studies because it is an essential challenge since wireless messages are transmitted in the air so there is a chance that hackers can read out the messages and see what all the contents are there in the message. Purpose of Software Requirement Specification: A software requirement specification personifies the requirements of a system IEEE standard and is a organized collection of information. A business analyst (BA), sometimes called system analyst is important for examining the business needs of their clients and for the persons having interest and concern in solving the problems and finding solution for the problems. BA typically performs a communication between the business side of an enterprise and the information technology department. To list the user requirement in a specified manner is the main purpose of software requirement specification. It defines requirements for the software and restrictions needed to this application and document. 4.2 Performance Requirements Portability: It is easy for the user to understand and respond as the Graphical User Interface of this application is user-friendly. Response time: It is the time taken to complete a work by the system by the user is found to be very less. Reliability: This system helps us to deliver the need for queries with high possibility and the functionalities that are available in the application. Scalability: To improve the quality of the product, the system can be extended to combine the changes that are done in the present application. Scalability is meant for the future works that is to be done on the application. 4.3 Functional Requirements: Functional requirements are the statements of services the system should supply, how the system should behave in particular condition and how it behaves to certain inputs. Also the functional requirements define what the system should not do in some cases. The functional requirements is based on the kind of software being evolved, when writing requirements the general approach taken by the organization and the anticipate users of the software. These requirements for a system report what the system should do. The requirements are normally describes in a fairly abstract way when it is exhibited as user requirements. Functional requirements may be exhibited in numerous ways for a software system and it describes the irregularity, its inputs and outputs and functions of system in detail. Some of the typical functional requirements are: 1. Transaction corrections, adjustments, cancellations: Here uploading the data on cloud by data owners are by the transactions which is done online. The end users upload the files to each cloud servers can be downloaded and viewed and these end users have to register to cloud service providers. 2. Authentication: Here the users authentication is required to enter any of the modules implemented in the proposed system and is used to login into the cloud service providers servers. 3. Authorization- functions user is assigned to perform: Here the users are allowed to login by registering and paying into cloud servers if the cloud services are to be used by paying. User has the right to upload the files to respective cloud servers and track the details which are uploaded after logging into the cloud by registering. 4. Audit Tracking: An audit trail which is also called as audit log provides documentary proof of the series of activities that have elaborated at any time a particular operation, procedure or event and is a security-applicable chronological record, set of records, and/or at the end of line and source of records. Scientific research and health care data transactions, financial transactions, or communications by individual people, systems, components, accounts or other entities are the activities in which the audit records typically result from. The procedure that generates an audit trail can enter and administer all actions from all users; a standard user is not authorized to stop or change it and is typically required to always run in a prosperous mode. Additionally, database table with a string or trail file is not reachable to normal users in some cases. The use of a role-based security model in the software is another way of dealing with this issue. When using audit trail functionality, the softwar e is required by many companies and it can also work as a ‘closed system’ or with closed-looped controls. 5. Historical Data: Historical data is the data which is a collection of old records and it should always be present in database. Historical data should not be deleted by the cloud service provider from the database except the data owners are asking to delete the historical data. 4.4 Non-Functional Requirements: Non-functional requirements are the requirements that are often called the qualities of the system. It can be used to form the operation of the system, rather than specific behaviors. Reliability (accuracy), response time and store occupancy are the emergent system properties that non-functional requirements deal with. Alternatively, they may define the constraints on the data representations used in system interfaces and the system capabilities of I/O devices. Non-functional requirements are constraints, quality attributes i.e. it provide the method for designing the fitness and suitability of the product, quality goals, non-behavioral requirements i.e. it achieves its job such as reliability(accuracy) and defines the attributes of the system, efficiency(planning), timing constraints etc.. Non-functional requirements are divided into two main classes: Security and usability are execution qualities. Testability, maintainability, extensibility and scalability are evolution qualities. Some of the non-functional requirements are: Accessibility Accessibility is the one in which a device, service, product or environment is available to many people as possible. Accessibility advantage from some system or organization and it can be observed as the â€Å"ability to access†. The cloud computing system is distributed software so it can be reached from any point of the world through internet without interfering. Availability Availability is the degree to which a system, subsystem, constituent or equipment is in a detailed operable and occurring state at the start of a mission, when the mission is called for as an unknown i.e. a non-specific time. The cloud computing system is distributed software so it can be reached from any point of the world without interference. Reliability Software reliability is the accuracy that has possibility that software will work properly in an identified environment and for a given time. The possibility of failure is calculated by testing a sample of all available input states using the following formula. Probability = Number of failing cases/ Total number of cases under consideration. System Reliability Specification: Hardware reliability Possibility a hardware component fails. Software reliability Possibility a software component will produce an incorrect output Even though a bad result will occur, software can continue to operate in that condition Operator reliability Possibility a system user will make an error Dept. of CSE,STJIT,RANEBENNURPage 1 Underpricing in Turkey: a Comparison of the IPO Methods Underpricing in Turkey: a Comparison of the IPO Methods Abstract This paper addresses the question of what kind of selling and underwriting procedure might be preferred for controlling the amount and volatility of underpricing in the Istanbul Stock Exchange (ISE). Using 1993-2005 firm and issue data, we compare the three substantially different IPO methods available in the ISE. One is very similar to the book building mechanism used in the U.S., another is the fixed price offer, and the third one is the sale through the stock exchange method. The empirical analysis reveals significant first day underpricing of 7.01% in fixed price offer, 11.47% in book building mechanism, and 15.68% in sale through the stock exchange method. Finally, we also show that fixed price offers can better control the impact of market information on underpricing than sale through the stock exchange method. 1. Introduction Extensive amount of research from a variety of different markets have documented the presence of first-day underpricing upon the listing of initial public offerings. The evidence is well documented by Loughran, Ritter, and Rydqvist (1994) and Ritter1 (1998), (2003) in many developed and emerging markets. In developed markets, in the absence of restrictions on intra-day price movements, first-day underpricing is observed in broad price bands. However, in emerging markets, in the presence of daily volatility limits, first-day underpricing is observed in narrow price bands. In contrast to the daily price limits, significant positive short run returns are observed in a number of emerging markets and substantial amount of money is â€Å"left on the table by issuers. Besides empirical evidence, most of the theoretical models explaining IPO underpricing are grouped under four broad headings by Ljungqvist (2005), these are (i) information asymmetry between the investors, the issuing firm an d the underwriter, these models assume that one of these parties knows more than the others, (ii) institutional reasons, institutional theories focus on three features of the marketplace: litigation, banks price stabilizing activities once trading starts, and taxes, (iii) control considerations, control theories argue that underpricing helps shape the shareholder base so as to reduce intervention by outside investors once the company is public, (iv) behavioral approaches, behavioral theories assume either the presence of irrational investors who bid up the price of IPO shares beyond true value, or that issuers suffer from behavioral biases causing them to put insufficient pressure on the underwriting banks to have underpricing reduced. These theoretical models almost always end with the conclusion that the average IPO is undervalued at the offer price, where the initial investors, in most cases, benefit from possessing information by receiving allocations of shares in IPOs and earn the largest first-day returns. The expectations of issuing firms, investors and underwriters in IPO pricing are considerably different. In an offering, the issuer generally wants to receive the highest possible price to maximize cash flows to the firm. Investors like to purchase shares at a deep discount so that they can realize positive returns *Baskent University, Faculty of Economics and Administrative Sciences, Baglica Kampusu, Ankara, 06530, Turkey, + 90 (312) 234 10 10 /1728, [emailprotected] 1 Ritter (1998), (2003) provides an update on the compilation of Loughran, Ritter, and Rydqvist (1994) in a short investment period. Underwriters, acting as an intermediary between investors and issuing firms, suffer from a dilemma, if an underwriter determines IPO prices too low, where the foreseen amount of money left on the table will be huge, the issuing firm may withdraw or switch to another underwriter. On the other hand, if an underwriter determines IPO prices relatively high, investors will hesitate to buy new issues, which would result in low commissions and an unwanted effort in aftermarket stabilization activities. Underwriters, however, have an incentive to underprice the shares to ensure that they can sell the offering, and, unsurprisingly, there is extensive evidence that IPOs are, on average, underpriced. Hence, pricing of stocks in IPOs may be the most critical stage of the IPO process. More recently, the literature on IPOs, both theoretical and empirical, focuses on the efficiency mechanisms of the following methods for pricing initial public offerings. At the center of this literature, book building, auctions and fixed price offers differ mainly in price-discovery and share allocation process. Book Building in which the underwriters do road shows and take non-binding orders from Auctions in which the company sets a price range to be used as a non-restrictive guideline for investors, than accepts bids, each specifying a number of shares and a price the investor is willing to pay for them, finally, the market-clearing price set by the investors approximates the real price the shares will command in the market. Fixed Price Offer in which the issue price is set first and than orders are taken from investors who typically pay in advance for part or all of the shares that are ordered. Sale through the Stock Exchange in which the sale is initially conducted in the primary market of the stock exchange by a designated underwriter. Those investors who buy the shares in the primary market must wait until the shares trade in the secondary market in order to sell their shares. The price designated at the time of registration with the securities exchange commissions is set as the opening price. Hybrid Offerings in which the underwriters combine the preceding IPO methods, and design auction/fixed price, auction/book building and book building/fixed price hybrids. For most hybrids, the most common combination is the book building/fixed price offer, where the underwriter uses the book building method to set the price and allocate shares to institutional and foreign investors, and retain the fixed price offer to the domestic retail investors who do not participate in the price-setting process. This paper addresses the question of what kind of selling and underwriting procedure might be preferred for controlling the amount and volatility of underpricing in the Istanbul Stock Exchange (ISE). In this regard, we first compare the three IPO methods available in Turkey. One is very similar to the book building mechanism used in the U.S., another is the fixed price offer, and the third one is the sale through the stock exchange method. Then, we estimate a binary probit on the issuers choice between fixed price offer and sale through the stock exchange method, however, because of the declining importance of the book building mechanism in Turkey, we excluded the book build IPO sample from our binary probit estimations. Finally, we determine the factors that are expected to have an effect on the IPO returns. Our results indicate that, the comparison of the two mechanisms yield that for certain values, namely first day underpricing, IPO amount and fractions of equity sold, fixed pric e offer outperforms the sale through the stock exchange method. To the best of our knowledge, this is the first empirical study on the comparison between fixed price offer and sale through the stock exchange method in the IPO literature. The uniqueness of the data and the availability of the sale through the stock exchange method in the ISE make it possible to conduct a study on the comparison between these two methods. The remaining part of this paper is organized in six sections. In the next section, we provide a comparison of the theoretical and empirical research conducted on IPO methods across many countries around the world. In section 3, we describe the three important Turkish IPO market selling procedures. In section 4, we describe the data and the methodology we used in our empirical tests. Section 5 documents the relationship between market conditions and underpricing of IPOs in different time series and the last section concludes. 2. Comparison of the IPO methods in the literature: Theory and Evidence The efficiency of the IPO methods has been the subject of an academic research over a decade, both empirical studies and theoretical models have tried to explain the advantages of one method over another. The argument that is often made in favor of IPO methods is often empirical as well as theoretical. Researchers studying on the efficiency of the IPO methods try to answer the most challenging question, â€Å"Which one of the IPO mechanism is the most efficient?2. However, according to our comprehensive literature research, both empirical studies and theoretical models listed in Table have some mixed answers. 1. Book Building vs. Fixed Price Offer and/or Auctions Comparison of the IPO methods in the literature goes back to Benveniste and Spindt3 (1988), (1989) and Spatt and Srivastava (1991), they suggest that the American bookbuilding procedure is efficient since it encourages investors to reveal their beliefs about the issues value at a cost of initial underpricing. Book building allows investors to collect information about the value of the stock and price the issue more accurately. To compensate the investors who reveal information, underwriter will favor them when allocating shares. However, fixed price mechanism does not utilize any information about realized buyer valuationsin setting the issue price and is generally inefficient. Loughran, Ritter and Rydqvist (1994) present the first international evidence on the short-run and long-run performance of companies going public in many stock markets around the world. They document that the fixed price method is associated with greater underpricing because of the greater probability of the issue failing and the increased uncertainty associated with the longer time delay between offer and issuance time. Chowdhry and Sherman (1996) point out that two features of fixed price offers tend to lead to greater underpricing, relative to the book building method. The first one is the length of the bidding process, as the time gap between the offer and first day market price widens â€Å"price information leakage occurs, the second one is the common requirement that investors pay in advance for their entire order. Benveniste and Busaba (1997), extend Welchs4 (1992), model of information cascades in investment decisions and present a theoretical comparison of the fixed-price and book-building mechanisms. They exhibit that issuers with a greater concern for risk will prefer a fixed-price offer, because book- building might generate higher expected proceeds, and exclusively provides an opportunity to sell additional shares at full value but it also exposes them to higher risk. Ritter (1998) demonstrates that countries that use bookbuilding typically have less underpricing than countries using f ixed-price offerings, more underpricing under fixed-price offering procedures can be attributed to informational cascades. However, Loughran, Ritter and Rydqvist (1994) and Ritter (1998) point out that IPOs with discretionary allocation (Fixed Price Offering and Book-building) are underpriced more than those with non-discretionary allocation (Offer for sale and Auctions), especially in Auctions. Under discretionary allocation, the first day price increase averaged 37% in fixed price offerings, 12% in book building. Under non-discretionary allocation, the first day price increase averaged of 27% in Offer for sale and 9% in Auctions. 2 In terms of controlling the amout and volatility of underpricing, share allocation and pricing. 3 The literature on underpricing in initial public offerings goes back to Logue (1973), Ibbotson (1975), Chalk and Peavy (1987), Miller and Reilly (1987), Ritter (1984), Rock (1986), Allen and Faulhaber (1989), Benveniste and Spindt (1988, 1989), Grinblatt an d Hwang (1989), and Welch (1989). However, the mechanism by which initial issues are sold has largely been ignored until Benveniste and Spindt (1988), (1989). 4 Welch (1992) focuses on the fixed-price procedure used in some non-US countries, and shows that this procedure can cause informational cascades: investors who observe the investment choice made by previous investors can update their beliefs about the value of the issued shares. Sherman (2000), (2002) shows that fixed price offer, can lead to higher underpricing than book building. Contrary to the fixed price offer and the auction method, in book building underwriters discriminate investors in the allocation of shares to establish long-run relationship with intermediates. Book building gives the underwriter greater flexibility in designing a solution that reflects the individual issuers preferences. By controlling investor access to IPO shares, book building controls both the winners curse problem that affects discriminatory auctions and the free rider problem that affects uniform price auctions. Book building also reduces uncertainty for both issuers and investors. In a study that covers 47 countries, Sherman (2002) has found that in all countries in which the bookbuilding mechanism has been introduced, pre-existing auction systems have decreased in popularity or disappeared altogether. Ljungqvist, Jenkinson and Wilhelm (2000) use a unique dataset containing information on 2,051 initial public offerings in 61 stock markets around the world, during the period of 1992-1999. The authors examine the relative direct and indirect costs of offerings carried out by book building and fixed-price methods. They find that, the direct costs of book building are typically twice as large as direct costs for fixed-price offers. Compared to fixed price offerings, book building efforts though more expensive produce far less underpricing. Nevertheless, fixed price offering is still an extremely common method that is not likely to be abandoned by the underwriters completely. Compared to book building efforts, fixed price offering is an efficient, low cost way to distribute shares to retail investors, avoiding the high fixed costs of road shows. Aorsio, Giudici and Paleari (2000), Guidici and Paleari (2001) present an empirical study conducted on the Milan Stock Exchange companies bet ween 1985 and 1999. Authors distinguish between fixed- price offers and open-price offers with bookbuilding and find different underpricing levels and statistically significant determinants. They state that if the offering is preceded by book building, the underpricing is significantly lower (8.32 % vs. 28.33% in fixed-price offerings), this method allows the issuing parties to collect information from the institutions and to signal good news or bad news to retailers through the revision of the prospectus price range. Therefore, the cost of raising private information is reduced and the requested underpricing is lower. The evolution of the placing procedure, from fixed price to book building, has considerably improved the efficiency of Italian IPO market. Biais and Faugeron-Crouzet (2002) analyze and compare the performance of book building, fixed price offering, uniform price auction, internet-based Open IPO mechanism, and an auction like mechanism called the Mise en Vente in France. Conclusions emerging from their analysis are; Fixed price offerings lead to inefficient pricing and winners curse. Dutch auctions can also lead to inefficiencies, to the extent that they are conductive to tacit collusions by investors. The book building and an auction like mechanism Mise en Vente can lead to optimal information elicitation and price discovery. Chahine (2002) investigates the relationship between underpricing and the investors interest prior to and after the IPO day on 305 French issues. Empirical results show that book-built issues have a lower underpricing, on median, but a higher variance level, than the auction-like and fixed-price offerings. Despite the high initial underpricing of some book-built issues, book-building procedure appears to better control the information gathering from investors participating in the offering, and to be a more efficient pricing system than the auction-like procedure. Paney (2004) examines the initial returns, characteristics of issuers and long run performance of Indian IPOs on a sample of 84 Indian IPOs between 1999 and 2002. In terms of initial returns or underpricing, Paney (2004) finds that fixed price offering yields higher initial returns on average, as compared to book building. In terms of issuer characteristics, Paney (2004) finds that fixed price offering are used by issuers of fering large proportion of their capital by raising a small amount of money. In contrast, book building is opted for by issuers, offering small portion of their stocks and mobilizing larger sums of money. Kutsuna and Smith (2004) present an empirical study conducted on the Japanese IPOs between 1995 and 1999. Using a sample of 163 book-built and 321 auctioned IPOs by JASDAQ companies, authors document that average total issue cost, measured as a percent of aftermarket price, was significantly higher in the book-building regime than in the earlier auction regime. However, when results are weighted by issue size, the estimated aggregate costs of auctioning and book building are similar. This outcome favors book building over auctions for two reasons. First, auction-method estimates do not reflect opportunity costs related to underinvestment. Second, issue cost estimates ignore other benefits of the more-accurate pricing that book building affords. Anand (2005) examines the differences between book building and Dutch-auction, and shows that the bookbuilding method of offering securities is superior to the Dutch-auction IPOs. Stated by Anand (2005), while the Dutch-auction may seem to lea d to efficient price discovery based on investor demand, recent transactions suggest that price discovery is not always accurate and that, indeed, underpricing occurs even in the Dutch auction. Further, even if the Dutch auction is more fair than the bookbuilt process in terms of allocating securities, the Dutch auction can lead to less capital market efficiency overall and can therefore be questioned as a basis for promoting this type of offering. Jagannathan and Shermans (2005) research on the efficiency of IPO mechanism show that hybrid bookbuildings5, unlike auctions, have proved effective in many different countries, cultures, time periods, and market conditions. Jagannathan and Sherman (2005) propose a new IPO mechanism that could overcome the problems with standard auctions. A method that retains the advantages of bookbuilding, while modifying it to increase transparency. Although not a direct comparison between book building, auctions and fixed-price offers, Cornelli and Gol dreich6 (2001), (2003) examine a unique data set of international book building allocations and find that the underwriter favors both regular investors and investors that supply information on the value of the issue. Degeorge, Derrien and Womack (2005) have presented empirical evidence from Frances IPO market that underwriters employing the bookbuilding process implicitly committed to providing more favorable coverage to the companies they took public in the aftermarket. Authors find convincing empirical evidence that in addition to placing the IPO shares with investors, underwriters employing book-building implicitly commit to providing more favorable coverage to the companies they take public in the aftermarket. Specifically, analysts, affiliated with the lead underwriter of the offering, issue more favorable recommendations for recent book-built IPOs than for auctioned offerings. 2.2. Fixed Price Offer vs. Book Building and/or Auctions The pricing of Initial Public Offerings (IPOs) in the short-run has been analyzed by several theoretical and empirical studies referring to the major international stock markets. Extensive research has revealed that the fixed-price offering all over the world suffer from IPO underpricing especially in these major markets. However, studies conducted by Busaba and Cheng (2001), Bierbaum and Grimm (2003), Chemmanur and Liu (2003), Hsu and Hung (2005) present some evidence on the efficiency of fixed price offering over book building and auctions. Busaba and Cheng (2001) show that the bookbuilding process elicits much information from informed traders at the IPO stage by promising larger allocation of valuable stocks to investors who truthfully reveal their information, and therefore reduce the impact that such informed traders have in the after- 5 In the hybrid bookbuilding offers, all retail investors are allowed to place orders in a public offer tranche, and all have an equal chance of getting shares. The prices, however, are set by professional investors who are given incentives to attend the road show. Jenkinson and Jones (2004), cast some doubts about the findings of Cornelli and Goldreich (2001) upon the extent of information production during the bookbuilding period. market trading. In contrast, the fixed price method, that does not elicits such private information at the IPO stage, enables informed traders to use such information in the after-market at the expense of the uninformed traders. In this regard, if the underwriter building a book can not successfully target a subset of the informed investors, a simple fixed price strategy that involves allocating the issue to retail investors produces higher proceeds on average. The comparatively high adverse selection problems associated with the fixed-price method will spill over from the IPO stage to the after-market. This in turn means that liquidity will be relatively more important for IPOs carried out via a fixed- price method than via bookbuilding. Authors show that, compared with a fixed-price offering, the bookbuilding process elicits more information from informed traders at the IPO stage, and therefore reduce adverse selection problems in the after-market trading. However, by the same toke n bookbuilding may require larger informational rents to be paid at the IPO stage. This suggests that underpricing should be larger for IPOs carried out via bookbuilding than via a fixed-price method. Bierbaum and Grimm (2003) compare the fixed price and the uniform auction in a game theoretic framework. The comparison of the two mechanisms yields that for certain parameter values, namely a low variance of the asset and, at the same time, a sufficiently high probability of low demand, fixed price method outperforms the auction in terms of revenue. Moreover, the revenue in the fixed price mechanism is typically less volatile than the revenue in the auction. Chemmanur and Liu (2003) model the effect of costly information production on issuers choice of a fixed-price offer or a uniform-price auction with exogenous entry of bidders. Their model predicts that IPO auctions will exhibit a significantly lower mean and variance of underpricing compared to fixed- price offerings. This is due to the fact that the offering price in an IPO auction aggregates the information produced by outsiders to a significant degree, so that this offering price is greater for higher intrinsic-value firms and lower for lower intrinsic-value firms in IPO auctions than in fixed- price offerings. At the same time, there is less information production in IPO auctions compared to fixed-price offerings where the offering price is set by insiders to induce the optimal degree of information production, so that a lower amount of information is reflected in the opening price of the shares listed in the stock market. Thus, Chemmanur and Liu (2003) demonstrated that, in many situations, firms will prefer to go public using fixed-price offerings rather than IPO auctions in equilibrium, since such offerings allow the firm to induce the optimal extent of information production. Hsu and Hung (2005) present an empirical study conducted on the Taiwanese companies between 1996 and 2000. Using a sample of 280 pure fixed-price offers and 84 hybrid auctioned, authors find that, Taiwanese hybrid auctions are associated with less under-pricing and with a lower variance of under-pricing than versus the pure fixed-price offers, but these differences are not statistically different. On the other hand, we find that the market index returns prior to the IPO pricing date have a strong influence on the under-pricing of Taiwanese IPO auctions and of the pure fixed-price offers. Authors provide empirical evidence of how Taiwanese issuers make the choice of IPO method. Taiwanese issuers that float large IPOs, or which have a pricing conflict with underwriters, will likely use a hybrid auction to distribute shares. On the other hand, when the relative risk level of IPO auctions to fixed-price offers has increased, the issuers will likely avoid an IPO auction. Empirical evidenc e also explains why Taiwanese IPO auctions have lost market share to fixed-price offers. Further results reveal that Taiwanese IPO auctions are not associated with less under-pricing and with a lower variance of under-pricing, nor are they better at incorporating recent market information into the IPO price than the pure fixed-price offers. Authors examination on issuers choice of hybrid auctions or fixed-price offers indicates that Taiwanese issuers condition their choice of IPO method not only on firm characteristics, but also on IPO size and on market conditions. This is why Taiwanese issuers prefer a pure fixed-price offer to a hybrid auction are based on market volatility and the pricing conflict. In doing so, under a volatile market where Taiwanese hybrid auctions have become much riskier relative to the pure fixed-price offers, issuers will prefer a pure fixed-price offer to a hybrid auction, resulting in a lower popularity of Taiwanese hybrid auctions. As listed in Table 1, Fixed Price Offering seems to be the less favorable method comparing to Book building and Auction Methods. It is a fact that, the worldwide introduction of book building method during the 90s has promoted efficiency in the major equity markets. However, Sherman (2002) states that stock markets listing few IPOs each year, fixed price offering is still be the optimal method. 2.3. Auctions vs. Book Building and/or Fixed Price Offer Using a sample of 108 French firms marketed on the Second Marchà © between 1984 and 1991, Leleux and Paliard (1995) show that initial returns are significantly higher for firms issuing through the fixed- price procedure than for firms using auction-like procedures. Leleux and Paliard (1995) state that the auction mechanism is associated with less underpricing and thus more efficient, since this procedure is able to incorporate more information from recent market momentum into the pricing of the IPO. Beierlein (2000) compares the book-bu ilding method to two commonly used auction mechanisms, the discriminatory price auction and the uniform price auction in terms of underpricing and the long run performance of IPOs relative to the market. Using data from Japan, Israel and the U.S., author finds evidence that the U.S. book building is less efficient than the auction mechanisms are. Specifically, underpricing is significantly higher in the U.S. than it is in Japan or Israel and bookbuilding appears to incorporate less demand information into the offer price than the auction mechanisms do. Bennouri and Falconieri (2001) suggest that auction mechanisms are the optimal way to sell new shares because auction procedures are more informationally efficient than bookbuilding. Assuming ex ante uncertainty about the firm true value, then auction mechanisms are able to elicit and incorporate more information from the market as well as from investors into the pricing of IPOs. Draho (2001) suggests that underpricing in bookbuilt IPOs is due to the uncertainty about the price on the secondary market rather than about the firm value, as most of the literature assume. Nonetheless, his results indicate auction-like mechanisms as the most efficient ones, since they are open to all investors who are moreover required to submit price-quantity bids. McDonald (2001) examines the efficiency mechanisms of the sealed-bid uniform-price auctions over book building method in a theoretical framework and concludes that the uniform-price auction, due to its generalized Vickrey auction properties, is indeed an efficient auction mechanism especially for the sale of IPOs over the Internet. Biais, Bossaert, and Rochet, (2002) study the optimal IPO mechanism by which the seller can extract private information to maximize the expected net IPO proceeds. They find that the optimal mechanism they characterize is similar to auction-like IPO procedures used in the U.K. and in France. Kaneko and Pettway (2003) examine the Japanese initial returns before and after the introduction of book building, and find that underpricing in book building method is significantly higher than auctions, especially during hot markets. Results suggest that the move from auction-priced to underwriter-priced IPOs using book building in Japan has significantly reduced the wealth of issuing companies while increasing the wealth of underwriter-selected investors. Derrien and Womack (2003), use the French IPO data for the 1992-1998 period and compare the three underwriting/selling mechanisms available on the French market. One is very similar to the book building mechanism used in the United States. Another is a fixed price procedure. The third one is an auction-like procedure. Authors show that the auction procedure is better than the others at controlling underpricing in general as well as the variance of underpricing of the issued shares in â€Å"hot versus â€Å"cold markets. Fixed price offering method is indeed inefficient and leads to greater underpricing compared to IPOs sold through book-building and auctions. However, the main empirical comparison in this paper is between the two main procedures auction and book building. Authors find evidence that during hot markets auctioning is associated with less underpricing than book building. They attribute the result to the auction methods ability to incorporate more information about recent market performance into the offer price. This result provides empirical support for the theoretical work by Biais, Bossaerts, and Rochet (2002) who suggests the auction procedure is optimal. In line with the evidence of Derrien and Womack (2003) that an auction procedure is more efficient in incorporating recent market momentum in the offer price compared to fixed price procedure, Vandemaele (2003) uses the French IPO data for the 1984-1995 period and points out the factors that may influence issue procedure choice. Results indicate that, firms facing relatively high valuation uncertainty are high likely to opt for an auction-like procedure and the likelihood of opting for an auction increases as the investment bank reputation associated with the issue decreases. Although not a direct comparison between auctions, book building and fixed-price offers, studies in Pettway and Kanekos (1996) examination on Japanese auctions, Kandel, Sarig and Wohls, (1999) examination on Israeli auctions, and Liu, Wei and Liaws (2003) examination on Taiwanese auctions seem to suggest that IPO auctions lead to less under-pricing. Biais and Faugeron-Crouzet (2001) show that a uniform price auction can prevent tacit collusion among bidders and can truthfully elicit information from investors in much the same way as book building. Bulow and Klemperer (1998) also show that it can be optimal in an auction to set a price at which there is excess demand. 2.4. Research on IPOs in the Istanbul Stock Exchange (ISE) Firms in Turkey may offer their shares to the public through, book building, fixed price offer and sale through the stock exchange method, however, they are mainly underwritten and sold using the fixed- price offering method; a method which is very common world w ide is becoming much less common, particularly for more active markets. Recent empirical studies, focused mainly on the initial returns and under pricing, condu Email Protocol: SMTP, POP, and MIME Email Protocol: SMTP, POP, and MIME Email protocol governs the interactions between email clients and servers. An Email protocol is a standard method which is used at each end of a communication channel either server side or client side, in order to transmit information properly. User is required to use a mail client to access to the mail server, by using variety of email protocols, the mail client and server can only exchange their information with each other. Three examples of Email protocol are: Simple Mail Transfer Protocol (SMTP) Post Office Protocol(POP) Multipurpose Internet Mail Extensions(MIME) Simple Mail Transfer Protocol(SMTP) Simple Mail Transfer Protocol (SMTP) transmits electronic mail (email) within different hosts in the Department of Defense Internet protocol suite. Email servers and other mail transfer agents use SMTP to send and receive messages, while SMTP usually used by client side’s email application to send messages to the email server for relaying only. For receiving messages, client side would mostly use POP protocol which will be introduced at the next part. Examples of email client that used SMTP to send messages are webmail systems: Hotmail, Gmail and also Outlook, Microsoft Exchange and so on. SMTP listens on TCP protocol well-known port 25. Functions of SMTP: To enable the client side to send email message to a receiver (an email address which already exist), SMTP would perform the following functions: User authentication To verify the sender who is using SMTP server to send an email message has the right to do so. User notification After delivering the message to the destination, SMTP will check whether the message has been successfully delivered. If the message does not delivered successfully, SMTP notifies sender by using an error messages and the message that was not successfully delivered will be delivered back to the sender. Advantages of SMTP: Simplicity SMTP is the simplest way to send an electronic mail between various computers in a particular network. As long as there is a receiver destination and a sender who send the message, the message will be send to the destination. The message will pass through a simple process from SMTP server to an exchange server for the receiver’s computer. Quick Email Delivery As we known SMTP is the simplest way to transmit a message, email messages can be sent quickly and easily by using SMTP. As long as the condition of the mail server is good, the messages that are sent will reach to the recipients as quick as possible. Reliability When the message has failed to deliver, an error message will be sent to inform the sender and the message that failed to deliver will be sent back to the sender. In this case, sender doesn’t have to worry that the message send will failed to delivered, because when the message is failed to delivered, sender can choose to resend the message until the message is finally delivered to the recipient successfully. Limitation of SMTP: Additional administrative overhead Original SMTP identifies clients by using the IP addresses, but it is only available when the email services are provided by the same Internet server provider that supplied the connection. Therefore, an extension named† SMTP-AUTH† is required to verify the senders of the messages. Required to set up security Required expertise Post Office Protocol(POP) Post Office Protocol (POP) is a Internet standard protocol in the application layer which allows email clients to retrieve email messages from a remote mail server. Out of the versions of POP that has been developed, current standard which used in most of the client and server email communication architecture is version 3 of POP also written as POP3. POP3 server listens on TCP protocol well-known port 110. It uses the TCP/IP protocol stack for network connection and works with SMTP for end-to-end email communication. In this case, POP is responsible to â€Å"pull† the messages from the server and SMTP will â€Å"push† the messages to the server. Function of POP: Retrieve message from an ISP and whether to delete or not to delete it on the server, depends on users’ decision. Detect whether new message has arrived but not retrieving it from the server, meaning the messages will be stored at the server until the user choose to retrieve it from the server. To see whether the message is worth retrieving, POP will peek at the few sentences of the message before retrieving it. Advantages of POP: Once the messages have been retrieved to the client computer, it is visible with or without the internet connection including the attachment along with the message. User can choose whether to delete or not to delete the messages that already retrieved from the server. User can choose to save a copy of some of the important messages by choosing not to delete the messages from the POP server. Disadvantages of POP: Occupied a lot of hard disk spaces in computer as the email retrieved from the server are all store into the hard disk storage. Not accessible from other machine. Nowadays, people uses multiple devices to access to one email account, but not with POP, all messages are downloaded into one and only one PC. In order to read that specify message, user can only use the PC which used to download the messages to view it. Messages stored at local disk drive are vulnerable to data loss or even security threats. As those messages stored at local disk are deleted from the server and stored at only one PC at a time, it is more dangerous when the PC suffered virus attack or data corrupted. Multi-purpose Internet Mail Extension(MIME) MIME is an extension which allows users to use the protocol to send different kinds of data files on the Internet, for example: audio file, image file (PNG, GIF, JPEG), video or even application programs. SMTP protocol only handled ASCII text, which means, only ASCII texts can be send through the protocol. Media type of content in email is described by MIME type, some of the examples for MIME types are: Plain text: txt/plain Java applets: application/x-java-applet Adobe PDF documents: application/ pdf Advantages of MIME: Allows mail messages consists not only ASCII text. Old version of Internet email standard allows only ASCII characters messages, messages not exceed 1000 characters and so on. But with MIME, it allows additional fields for mail message by using the MIME headers that describe new types of content and organization for messages. MIME allows mail messages to consist of the following: Multiple objects in a single message. Unlimited length text messages. Other than ASCII characters, it also allows non-English messages. Message that consist multiple types of font. Application specify or even binary files. Audio, Image, Video and other multimedia attachment in the mail message. MIME header can help client PC to search for the suitable application software to open the attachment or file include in the mail messages. Disadvantages of MIME: Some compound formats are considered as an application when they are nor for example â€Å"application/pdf†. Diagrams below show how client and server send and retrieve messages via SMTP and POP protocols, also how the multipurpose internet mail extension works: How to apply the following email protocols (SMTP, POP, MIME) with ASP.NET? One way to apply the mentioned email protocols with asp.net is using System.Net namespaces. It consists of classes that provide simple programming interface for several number of network protocols, compose Email and send it, it also consist of representation of multipurpose internet mail exchange (MIME) headers. Besides, it also can access to network traffic data and peer-to-peer networking function. SMTP Inside System.Net, there is a namespace called System.Net.Mail, it contains classes that we needed which is to send email messages to a simple mail transfer protocol (SMTP) server for it to be delivered. Classes include in this namespaces are for example: an Attachment class which allowed user to add an attachment into the email, MailMessage class represents the email message that can be sent by using the SmtpClient class, while there is also a class which allowed user to send an email by using the SMTP. List of all the classes in System.Net.Mail namespace will be included in Appendix A. To actually send an email using SMTP, we will require these following items: The SMTP host server that we use to send email. A port number, which usually we use port number25. User name and password for authentication purpose. An email address of sender and recipients. The message content. Once we have accessible SMTP server, it is time to send our email message! Firstly we will need to create an empty page which consists of the example coding shown: Next we can choose to send the email to more than one person at a time, by adding email address to the â€Å"To† collection as shown below: After that we can set the name of the sender, this will be shown along with the sender email address to the recipient once the email has been received. For instance, we can do this: Next, we can use the CC and BCC fields in the email messages, for example: Other than that, we can also set priority of an email message, by using one of the method provided in the System.Net.Mail class: POP To log in to a POP server, we need to use System.Net.Sockets namespace. Classes that we can use from the System.Net.Sockets namespace are for example TcpClient and NetworkStream. Firstly, we will need a simple aspx page which consists of several textfields that allow user to enter the username and password. To initiate the connection to POP3 server, we will use the System.Net.Sockets. For example, after user enter their username and password, and then there is a on click event of the button as shown in the following header: Next, we will send the username and password to the server, and the server response will be displayed: If the username and password are valid and successfully verified by the POP server, we will get a response and then start to retrieve a list of messages from the server. We will request for using the LIST command and display each message that we loop through: At last, we need to close the connection to the server. In this case, QUIT command has come to use, and then server response will be display: MIME Similar with implementing SMTP into asp.net, we can use the classes within System.Net.Mail namespace to apply MIME into asp.net. There is one namespace called System.Net.Mime which holds the types that used to represent MIME headers. These types are use along with the types in System.Net.Mail namespace when a SmtpClient class send an email with attachment. Data of MIME is represented by Attachment class which we just mentioned in the System.Net.Mail part. Here are some example of classes included in the System.Net.Mime: For the full list of classes included in System.Net.Mime, please refer to Appendix B.