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Between study group, debate, and chess tournaments there wasn’t much of a social scene around Winchester University in Omaha, Nebraska. The school year at this college was year round, but the students were given a 30 day summer vacation in July. The majority of the students went back home to visit their families during this time. But as juniors at the University Charles, Fredrick, and Stanley, all childhood buddies, decided it was time for a change and that they needed a little more spice in their life. Realizing that they were almost twenty-one and had never breached their comfort zone, they knew a road trip was in store.   Ã‚  Ã‚  Ã‚  Ã‚  As June came to an end the nearly grown men finished exams and planned to leave for their escapade the first day of July, also being the 1st day of break. They made a pact to keep the trip a secret until their return, for the main reason that their parents wouldn’t approve. If their families had any question as to why hey weren’t coming home to visit, they would simply say they were staying at the University to get ahead on the following year. This would be a reasonable lie, because no one would expect them to do any different.   Ã‚  Ã‚  Ã‚  Ã‚  The morning of their departure they loaded all the luggage and food that they could into Fredrick’s forest green Ford focus. Before they pulled out of the parking lot they had to lay some ground rules:   Ã‚  Ã‚  Ã‚  Ã‚  ~ No school attire   Ã‚  Ã‚  Ã‚  Ã‚  ~ No proper English   Ã‚  Ã‚  Ã‚  Ã‚  ~ No acting like themselves, only the new â€Å"cool† young adults that they were. Freddy, as they called him, established one last rule. They were to stop at four places and the rest of the time they were driving. This gave them a reasonable amount of time to live and get back to the University to start the New Year. And now†¦they were off†¦ As Freddy peeled out of the parking lot Charles, sitting in the passenger seat, turned on 93.3 KTNP modern rock.. The first 3 days of their trip were mainly getting out of the places they had seen time and time again. They didn’t experience much except for driving and eating as they reminisced on the past. Stopping frequently for Stanley’s immensely small bladder they reached about 50 miles the first few days. As they approached the evening on July 3rd they drove by a college, and decided to see if anyone would let them crash for the night.

Security Analysis & Portfolio Management

1. Introduction Before Fama and French question it, most business schools taught their student CAPM is the means of describing the relationship between expected return and risk in stocks. In 1992, Fama and French hade a study on stock market decision factors of differences between stock returns, they found the beta (sensitivity to the market return) of the CAPM cannot explain all the differences between the stock returns, and the market value, book value ratio, p/e ratio of listed companies can explain the differences between the stock returns.The Capital Asset Pricing Model (CAPM) by Sharpe (1964), Lintner (1965), Black (1972), believe that stock returns just relative to the risk of the whole stock market. But in fact, only measures the risk cannot explain all the variation in expect returns, the sensitivity to the market return is more complicated. This article will show the different between Capital Asset Pricing Model and Fama & French Model, and the way to analysis the stock ret urn. 2. Comparison of Value versus Growth Stock 2. 1 Value Stock & Growth StockIn this article, the researchers define the value stock as those stocks that have low ratios of book value to market value, the growth stocks as those that have low ratios of book value to market value. 2. 2 Findings of Value versus Growth Stock on Investing Most investors think the growth stocks can bring a better return, because they think those are good company, and the returns will be high. But the researchers find the growth can bring a better return, the value stocks got a high price by the market, which make their returns be low.In fact, the growth stocks have low ratios of book value to market value, it make the growth stocks get good return. 3. Determinants of stock return Fama and French founding that the market risk factor and the value-growth risk factor can explain average return of this set of large international stocks. The market risk factor is the return on an international market portfol io of stocks, and the value-growth factor is the difference between he return on an international portfolio of high book-to-market stocks and the return on an international portfolio of low book-to-market stocks. 4. Capital Asset Pricing Model vs. Fama & French Model 4. 1 CAMP and Its Importance The CAPM is built on a single measure of risk that explains asset returns. The CAPM helps investors determine how much they will earn by taking into account the risk of investments and the time value of money. With higher risk, the investor will want a higher rate of return for his investment.Although most researcher question CAMP, but this model still used widely in investing. Use beta to forecast single stock is different, but the investors still believe that, when the stocks’ portfolio of beta is small, it means the stock change small than the volatility of the market; when the stocks’ portfolio of beta is large, it means the stock change more than the volatility of the mark et. For the fund managers, this is important, they can use the CAMP, and no matter the market price is rising or falling.When the market price is falling, they can invest the portfolio of beta is low, and vice versa. 4. 2 Fama and French Explanation about Stock Return Compared with the CAMP, Fama and French use more complicated way to explain the stock return. They use three risk factors to design a more perfect model. It often used by the finance professionals to explain the risk and return of equity portfolios. In this model, the beta still is the most important risk factors.The second risk factor is the size, it compare the weighted average market value of stocks in the market. Small stocks have a different activity than big stocks in ever market. In the long run, the big stocks have low returns than small stocks. But this return is not free, the small stock have more risk. The third factor is comparing the amount of value stock exposure in relation to the market. In most compani es, the value stock rend have lower earnings growth rates, higher dividends, and higher book-market value.In the long run, the value have higher return. 4. 3 Implications of the Two Models for Investors This tow models had implications for investors, although the CAPM is not accurate,but it still can help people to get investing idea for the market. First of all, the CAPM thinks the market too simple, it only considers the risk, and there are at least two additional dimensions of risk, no matter it is a domestic or international portfolios of stock, it is get rewarded in average returns.Secondly, another implication is that, it makes the investors believe the value stocks have higher returns than growth stocks in markets around the world. Looking at book-to-market equity, Fama and French found that value stocks outperformed growth stocks in 12 of 13 developed countries from 1975 to 1995, and that the difference between average returns on global portfolios of high and low book-to-mar ket stocks was 7. 6 percent per year. Furthermore, when earnings-to-price, cash flow-to-price and dividend-to-price were examined, the value premium continued to be evident.Conclusion Although the CAPM stills an important mean to describe the relationship between expected return and risk in stocks. But CAPM has some serious flaws, especially with the assumptions of the risk-free rate and the market rate. Investors must consider current market conditions before deciding what numbers to use. Additionally, CAPM ignores taxes and transaction costs, lower returns on higher risk and adequate risk measurement. Fama and French think more about the stock return, this model use more risk factors to analysis the change of the stock price.

Effects of Online Advertisements on Newspaper Advertisements Essay

Advertisements can either take the form of print advertising through newspapers, magazines, brochures, and fliers or in non-print form such as those found in television, radio, video, and internet. The key purpose of advertisements is to bring to the attention of potential customers the existence of a new product or service. A good advertisement should be able to persuade the potential customers to purchase and keep them motivated to do a certain action (Tolani, 2010). While the function of advertising has not changed from the act of influencing the decision of a potential customer, the form of advertisement has radually evolved with new advertisement media emerging. Radio advertisement emerged with the coming of radios in the 1920s. The number of people who owned radios increased to about 82% by 1940. However, television was introduced in the 1950s, and was soon a common appliance in almost all households. This resulted in the increase of television advertisement expenditure to near ly $1. 5 billion by 1960s. Outdoor advertisement can be traced back to the post World War era to the American Safety Razor Company in 1925 when it advertised a brushless shaving cream on a mega billboard (Tolani, 2010). The advent of video cassette recorders saw a new trend in advertisement during the period between the early 1980s and late 1990s. The video cassette recorders became very popular with viewers, but video advertisement met a major hitch as viewers easily fast-forwarded ONLINE AND NEWSPRINT ADVERTISEMENT 11 through advertisements while watching tapes. This compelled firms to resort to product placement in which their products were used in television shows and films. The latest media development in this field is the use of internet for advertising. There has generally been an increase in computer ownership and the use of internet has rapidly grown. It might not be easy to predict the advertisement media that will be widely used in the future. However, it is an open fact that advertisements will continue to improve and strive to become more useful to businesses and to the consumer (Tolani, 2010). Entrepreneurs and business managers are faced with the challenge of making a choice for an advertising media on a daily basis. This is because the success of their establishments greatly depends on the ability of the entrepreneurs and managers to create product and service awareness, build their firm’s image and reputation, and generate sales leads and revenues. These efforts can only be realized by the use of newspaper and magazine advertisements, radio advertisements, television advertisements, outdoor advertising, web advertising, among many other advertising media. What will determine the final medium choice may vary from one business to another and the various factors that are in play toward meeting the specific business objectives (Patsula Media, 2007). Irrespective of the medium of advertisement that a business chooses to use for its products and services, it is important to note that both the print advertising and online advertising are highly necessary, given that the approaches toward both, the purposes, and even the audiences are very different. It is not very advisable to consider one of these media as more effective that the other on mere basis of seasonal variance because either may overtake the other at some give time. A good number of people also have access to both sources and this makes it ONLINE AND NEWSPRINT ADVERTISEMENT 12 mportant for entrepreneurs and business managers to give due consideration to both (Web Windows, 2010). Thesis Statement Given the increased growth of information that is available over the internet and the subsequent increase in the number of people who tend to spend more time on the internet, companies are turning to advertise their goods and service online so as to capture this newly generated m arket. Emphasis has thus shifted to the possible effects that this emerging trend of online advertisement may have on newsprint advertisement, both in popularity and advertisement revenue. Statement of the Problem Advertisement plays a very important function in the trading processes as it is the only means through which a business can bring to the attention of the consumers about their products, introduce a new product in the market or promote the sales of an existing product or service. All these are core activities—without which, a business setup cannot effectively compete for customers in the already-crowded market. Though there are numerous media through which a business may place its advertisements, the most commonly used medium is the newspaper because of its wide readership and circulation. With the advent and advancement of technology, newspaper publishers have embraced information technology to an extent of presenting their publications both as newsprint and online versions. This advancement means that entrepreneurs have the option of choosing which version of a newspaper through which to place their advertisements. This will mainly be determined by an entrepreneur’s own evaluation of the medium that will best suit the business needs. Lately, there ONLINE AND NEWSPRINT ADVERTISEMENT 13 as been growing debate about the popularity of online newspaper and newsprint. This debate cannot escape the attention of entrepreneurs who significantly rely on these news media for their advertisements. There is general consensus that online versions of newspapers are gaining popularity among readers worldwide. Could this increasing popularity and, to some extent, translate into increased preference by entrepreneurs to place their advertisements online instead of the newsprint version of newspapers? Background of the Problem Given the central role which newspapers play in the advertisement of goods and services by businesses, it is only important that entrepreneurs give special attention and critical evaluation on the volume of readership and scope of circulation of both the online version and newsprint version of newspapers. This would mean that new considerations are factored in when making a choice for advertisement media by business contrary to previous emphasis that focused only on readership and circulation. Ability to access n advertisement by potential customers is a major concern that attracts heated boardroom debates in companies, particularly due to intense competition for the crowded market. The significance of an advertisement media with regard to scope of outreach means that both entrepreneurs and advertisement agencies have a responsibility to adopt the use of advertisement media capable of optimizing market outreach for a product or service. Key aspects for consideration with regard to ch oice of advertisement media are mainly in areas of target audience and access. These entail considerations of readership and circulation which would ensure that an advertisement reaches the highest number of target audience within the shortest duration possible and draws attention in the most appropriate way. ONLINE AND NEWSPRINT ADVERTISEMENT 14 While many entrepreneurs are coming up with several measures of ensuring they significantly save on advertisement costs for their products and services, advertising agencies are of the opinion that optimizing market outreach can best be achieved by choosing a media with huge readership and wide circulation. Key areas suggested by advertisement experts include impact and ability to attract attention among other advertisements. When due consideration is given to these two aspects, an advertisement media will be able to achieve market outreach by approximately 70%, which is equivalent to nearly 5% of the total product market in a crowded environment. It is generally agreed that upgrading of newspapers to online versions can help to significantly improve their readership and accessibility, translating to wider market outreach for online advertisements. Such advancement in technology has for long been credited as significant part of increasing readership, expanding circulation, and making lasting impact in advertisement. The most remarkable gain for online advertisement can be attributed to the increase in number of people owning computers and therefore spending a lot of time on the internet unlike the numbers of people buying newsprint and the time they spend reading it. Justification for the Study Effects of online advertisement toward newsprint advertisement are a welcome topic at this time when there is growing concern that newsprint advertisement is becoming less and less effective in an environment where consumers are increasingly getting their information online and from other non-traditional sources. This belief has also drawn a lot of objection from newspaper advertisement sales agent who insist that newsprint advertising is more effective than online advertising. To them, newsprint advertising is tangible, making it possible for a potential ONLINE AND NEWSPRINT ADVERTISEMENT 15 customer to clip it out, hold in the hand and carry to the store unlike online advertisements, which is only visual. Though online advertisement can cost a business slightly more, it is becoming more popular with consumers and can thus not be simply brushed off. This calls for a strategy that will ensure that this advertisement medium is embraced without jeopardizing the profits of a business. Deficiencies in the evidence The choice of an advertisement media that an entrepreneur or a business opts to use for its products or services are mainly determined by size of business and the target audience— whether they are other businesses, youth, elderly, men or women. The access to an advertisement by these groups of persons is quite varied as all of them have their own preferences of media choices. The youth may be found of internet while the elderly may be accustomed to newsprint. While online advertising may make a big impact among the youth, it may not necessarily do the same with the elderly or housewives. The size of a business will also play a big role in the choice of advertising media. For example, small businesses may not have all the money to invest in certain media which are considered expensive and are therefore a preserve for big businesses. Advertising is an expensive venture and may not be appealing or affordable to all entrepreneurs. This means that the choice of a media may not necessarily be determined by its effectiveness but rather by the investment capacity of any given entrepreneur. Evidence obtained for this study will thus be influenced to a greater extent by individual entrepreneur considerations and not necessarily by the popularity of any given media. ONLINE AND NEWSPRINT ADVERTISEMENT 16 Definition of Terms Advertising Media: refers to means by which an advertising message is carried to potential customers and includes television, radio, internet, magazines, newspaper, and signage Online Advertising: refers to advertising that is done over the internet Newsprint Advertising: refers to placing advertisements on a newspaper Purpose of the Study The purpose of studying effects of online advertisement toward newsprint advertisement is to: 1. Ensure that entrepreneurs are provided with ample information regarding the various advertisement media to enable them make informed choices 2. Ensure that myths revolving effectiveness of either newsprint advertisement or online advertisement are eliminated and substituted with live statistics 3. Ensure that advertisement agencies are able to adjust their media in a manner that will enable businesses reach their target audience in the most effective way and at the least cost possible 4. Ensure that recommendations are made that would help entrepreneurs make a choice on the most effective media for their advertisements. This study is significant because it would help in ensuring that useful information is made available to help entrepreneurs with their advertisement decisions, particularly those focusing on newsprint and online advertisements. It will also ensure that advancements in technology are ONLINE AND NEWSPRINT ADVERTISEMENT 17 embraced and advertising services evolve to best meet the opportunities and challenges of the future with regard to market outreach. Hypotheses The following hypotheses were tested in this study: 1. H01: Advertising plays a central role in business success. HA1: Advertising does not play a central role in the success of a business. 2. H02: Most businesses advertise on newsprint media. HA2: Most businesses do not advertise on newsprint media. 3. H03: Most entrepreneurs prefer to use online advertisements for their products. HA3: Most entrepreneurs do not prefer to use online advertisement for their products. 4. H04: Newsprint advertising is more effective that online advertising. HA4: Newsprint advertising is less effective than online advertising. 5. H05: Online advertising is the future of product advertisement. HA5: Online advertising is not the future of product advertisement. Summary The shift in focus by entrepreneurs and businesses to put more attention on online advertisement instead on the traditional advertisement media is broadly seen as one of the main steps toward technological revolution of the advertising industry. This would go a long way in realizing wider market outreach and increased sales for businesses and publishers who embrace the internet for their publications. This, in essence, would mean increased readership for online version of newspapers, translating into bigger profit margins. ONLINE AND NEWSPRINT ADVERTISEMENT 18 This study has been designed to explore various modes of newspapers as major advertisement media which can be used by entrepreneurs and businesses to advertise their products and services. Special focus has been given to Star Newsprint and Star Online, which are Malaysia’s leading English publications. Chapter two of this work is an extensive literature review on matters relating to online and newsprint publications as well as online and newsprint advertisement. Chapter three is an outline of data collection and treatment while chapters four and five respectively present findings and discussions. Chapter six outlines major conclusions and recommendations. ONLINE AND NEWSPRINT ADVERTISEMENT 19 CHAPTER 2: LITERATURE REVIEW Introduction Newspapers have conventionally played a very significant role in the advertisement of goods and services. This has been mainly attributed to their wide readership and circulation since they can be easily obtained, from the nearest street vendor to the biggest shopping mall in the biggest city. The readership of newspapers also cut across all ages, sexes, and social classes as they normally publish articles that would be useful to all these category of persons in one way or the other,. Newspapers have for long dominated the advertisement scene due to the low costs involved as compared to other advertisement media. Newspaper comes either as newsprint or online. Newspaper publishers have lately resorted to the two kinds of publication to meet the various demands of different readers (Mutter, 2010). The introduction of online version of newspaper has seen a significant drop in the readership of the print newspaper, and this trend is projected to continue into the future. This scenario which is almost inevitable and probably irreversible is generating big concern on the future of printed newspaper as well as newsprint advertisement. The printing of newspaper remains very important for publishers since it is responsible for the biggest volume of revenue for publishers, contributing nearly 90% of the total revenue for a newspaper company. Analyst are quick to point that any attempt to rid of print newspaper would simply through publication companies out of business since the advertising revenue will almost drop to 5%, if not zero (Mutter, 2010). However, the continued survival of print newspaper will to a great extent be determined by consumer demands, good state of an economy, and the interest of marketers to use newsprint ONLINE AND NEWSPRINT ADVERTISEMENT 20 advertising. It is predicted that with the diminishing economic prospects declining advertising revenue, there is a high possibility of a major drop in consumer demand for print newspapers. This is based on the fact that close to half of print newspaper readers are aged population who are statistically likely to pass out with time. The younger population is not found of print newspapers, and this habit will probably accompany them to old age. Unless this readership habit of the younger population changes, it is quite evident that the print newspaper readership will continue to shrink as the aged population slowly makes their exit, leaving the younger population that has already formed a habit of not reading the print newspaper (Mutter, 2010). Evaluation of Print Newspaper Print newspaper has conventionally been associated with a number of advantages, which have probably made it very popular. It is generally agreed that print newspapers have loyal readership, which makes it a powerful advertising tool as compared to internet. Print newspaper is considered very effective when a particular geographic area is being targeted; for example, when you want to notify people of about a forthcoming sporting event. For those who have information to convey, print newspaper is more flexible in terms of space as one is able to determine the size that would best suit his/her needs. Certain print newspapers enjoy many loyal fans, thus increasing their readership (Lad, 2009). On the other hand, print newspapers have certain disadvantages. Print newspaper generally has limited lifespan, meaning they are only available to the public for a single day after which they are withdrawn from sale. Print newspaper may not give a wide reach as compared with internet that has a global audience. Print newspapers have the limitation in terms of the ONLINE AND NEWSPRINT ADVERTISEMENT 21 audience who may actually read it, and certain copies may actually not be available on demand at all times (Lad, 2009). Evaluation of Online Newspaper Online newspapers tend to offer information to the reader much more quickly as compared to the print version. The online version is always available on the internet before the print version is on the streets. Online publications can normally be updated several times in a day with the latest news and happenings. Moreover, while print version is purchased, online newspapers are accessed free of charge. This makes it possible for a reader to use a wide spectrum of newspapers possible. Online versions enable users to make use of links to divide large units of information into more easily digestible portions, and to search information in the newspaper is also automated. Readers of online versions are able to archive articles on the computer, contact editors via e-mail, and use interactive games (Lad, 2009). The disadvantages attributed to online versions included the fact that they do not give detailed reports on all the subjects and tend to omit several sections found in the print version. This limits information available to the online reader. Reading from a computer does not convey the traditional experience of reading a newspaper, which is a key characteristic of print newspaper. During peak times when several users are scrambling to access news, the download times are very long. Online newspapers are characterized by so many links which are quite confusing instead of being useful, particularly the amount of research necessary and the need to constantly check the link address. One gets tired looking at the computer screen and it may take time to get used to them (Lad, 2009). ONLINE AND NEWSPRINT ADVERTISEMENT 22 Case Study: Star Online and Star Newspaper The Star is one of the leading English language newspapers in Malaysia. The statistics issued from the Audit Bureau of Circulation indicate that the print version of this newspaper has a daily circulation of nearly 950,000 copies while the Sunday Star records a readership of nearly 850,000. The publication is mainly owned by the Malaysian Chinese Association. The main competitors of this publication are The Sun and the New Straits Times, which are also published in English. The Star newspaper traces its history back in 1971, when it was first published as a regional newspaper in Georgetown. By 1976, the newspaper had gained national circulation in Malaysia, and established its headquarters at the country’s capital, Kuala Lumpur. The growth in business saw the company relocate to Petaling Jaya, where it is currently based (Star Publication, 2009). The company’s print newspapers, The Star Daily and The Sunday Star are published in five different editions. Two of the editions cover the northern eninsular states of Penang, Kedah, Perlis, Kelantan, and Perak. Two other editions cover the larger country. The Star Daily is divided into sections consisting of the Main Paper, StarBiz, StarTwo, Star Metro, and classified section. The features of the Main Paper are predominantly local and international news. The StarBiz is mainly concerned with trade and reports on market trends, financial reports, and stock market updates. On the other hand, Star Tw o mainly feature articles on entertainment, environment, science, lifestyle, and fashion among several others. Lastly, the content of Star Metro is varied and tends to focus more on the area of circulation (Star Publication, 2009). The continued demand by the publication’s readers saw the emergence of The Star Online, which is an internet version of The Star newspaper. This was in response to the persistent ONLINE AND NEWSPRINT ADVERTISEMENT 23 demand for an online version of the newspaper, and it finally made entry into the market in 2005. The company prides its strengths as a newspaper on the cornerstones of internet and media ventures. The Star Online and its many components are produced, managed, developed, and contributed to by the Star Division, The Star Online and Multimedia Newsdesk teams of The Star’s Editorial Department (Star Publication, 2009). Newsprint Advertisement Advertisement can be traced to the emergence of trading activities from very early days as evidenced by archeological artifacts drawn from different parts of the world. With the invention of the printing press in 1440 by Johannes Gutenberg who was a German Goldsmith, merchants were able to duplicate advertisements for their wares. By the late 19th and early 20th centuries, newsprint advertising had become the primary means for companies to communicate their sales and promotions to the consumers. This was mainly through media such as newspapers, magazines, fliers, posters, and billboards (Walker, 2010). Following the invention of printing press, advertisements became a common place in weekly newspapers and periodical journals. The items, which were mainly featured in such advertisements, included new machines, other print publications or reported the discoveries and inventions of the enlightenment era. The first newsprint to offer advertising space for sale was the French publication La Presse in 1836. This saw this newsprint being sold more cheaply, hence recorded increased readership and profitability. This move inspired other newspapers and magazines across the world to follow suit in this commercial strategy. In the contemporary newsprint, advertising designers are able to visualize highly creative commercials through digital image manipulation in order to make the biggest market impact (Walker, 2010). ONLINE AND NEWSPRINT ADVERTISEMENT 24 Newsprints still remain key advertisement medium for every business to such a point that it is hard to imagine doing business without advertising in a newspaper or a magazine. This is particularly important for small businesses that can hardly afford other media of advertisement. Paid-circulation newspapers have for long dominated the mass media market for advertisement as reflected in advertisement sales volumes. Newspapers are very popular with both multinational businesses and small-scale dealers. This is probably due to the fact that businesses come in three distinct forms namely local, regional, and national newspapers each targeting different audience according to its scope of circulation (Patsula Media, 2007). Advantages There are a number of advantages that print newspaper advertisements have over online advertisements. Print newspapers have very wide circulation as almost every home in the city subscribed to daily access of a printed newspaper. Where the advertisement is intended to reach audience only in a particular geographical region, print newspaper readily permits this. The printed advertisement benefits from both permanence and desired obsolescence. This means that a reader is able to refer back or even cut out a particular advert. Print newspapers have a predictable frequency of publication, either on daily or weekly basis, making it possible for advertisers to target days of wider readership for their adverts (Brassil, 2010). The immediacy that print newspapers have makes it possible for urgent advertisements to be responded fast, thereby producing urgent results. When deadlines are short, it permits quick responses to changing market conditions. Readers are already accustomed themselves to getting advertisements on print newspapers to an extent that a good number buys print newspapers just to read advertisements. At the same time, print newspaper reading has nearly become a habit for ONLINE AND NEWSPRINT ADVERTISEMENT 25 most people. Specific sector adverts can be very easily placed on the various sections of print newspaper such as sports, news, and classifieds to ensure the target is directly hit (Brassil, 2010). Print newspapers give advertisers a lot of flexibility both in size and placement. This means that production changes can be easily responded to whenever the need arises. Advertisements that are placed on print newspapers can be examined at leisure since the exposure is not limited, thus readers are able to take their time going through the message. Since placement on print newspaper can be tailored to a size that suits the budget of the advertiser, it is possible even for small businesses to place their small adverts at low costs. Print newspapers offer wide options to advertisers whether place their advertisements as copy only, copy with graphics, colored, or black and white. Finally, print newspapers features supplements which readers can easily pull out and save (Brassil, 2010). Disadvantages Advertising on print newspaper has not escaped its own set of shortcomings. Because of the large number of advertisements which are featured on the newspaper, any particular advertisement must compete for reader’s attention. This means that readers who only spend a few minutes reading the print newspaper may fail to capture the advertisement. At the same time, there is hardly a guarantee that everybody who reads the print newspaper will read the advertisements placed in it. This is because a print newspaper has several sections and not all readers read every section of the newspaper. The short lifespan, normally daily, that newspapers have forces advertisers to insert multiple advertisements even for a whole week so as to reach a good number of readers. This may be expensive particularly for small businesses (Brassil, 2010). ONLINE AND NEWSPRINT ADVERTISEMENT 26 Online Advertisement The revolution in information and communication technology has come with both opportunities and risks for the business community, particularly from the point of view of the traditionally-established media. Internet as a form of computer aided communication is equally unsure for the print media. The technical potential in advertisement that online newspaper offers surpasses that of the printed newspaper in several ways. Online newspaper is interactive multimedia for providing internal and external networks, while offering a selection of functions, possibility for regular updates, access to archives, rapid access to large number of newspapers, and being paperless, thus ensuring there is no problem of waste disposal (Neuberger, Tonnemacher, Bibl & Duck, 1998). Advantages The economic constraints that businesses face on everyday basis often leave enterprises with very little money to spare on advertising. This is more common among the small businesses who often find themselves light in the pocket. It is therefore important to opt for an advertisement medium that give optimum output and minimal costs. Online advertisement is generally seen to be complacent in this line than the traditional newsprint advertisement. When online advertisements are on a pay-per-click basis, an entrepreneur only pays when a potential customer clicks on the advert and ends up on the entrepreneur’s website. This ensures that businesses only pay for leads that end up in their website as opposed to mass messages in the print newspaper that may or may not reach the target audience. There is therefore maximum return on investment for a business using online advertisement (Rogers, 2010). ONLINE AND NEWSPRINT ADVERTISEMENT 27 Online advertisement also works very quickly given the fact that the day that one gets started is the same day that results manifest. There is basically neither waiting period nor long startup process. Once an entrepreneur is ready to get started, he/she can very easily launch a successful advertisement promotion on a number of channels. This tends to produce quick results and the campaign can also be maintained for a longer period of time unlike print newspapers which have daily lifespan. Online advertisement enables businesses to target their markets more efficiently than print newspapers. This can be achieved through the use of social networks that an entrepreneur considers relevant to the campaign. Once these social networks are identified, a business can dig very deeply into their niche, enabling them to produce the maximum results with very little investment (Rogers, 2010). Advertising online has the advantage of giving elaborate and thorough statistics that enables a business to tweak and optimize their campaigns to the maximum. This is a total deviation from newsprint advertising when one can do very little to track the success of one campaign as compared to another. Online advertising avails quite a number of information just at a mouse click. With online advertising, an entrepreneur is able to monitor the number of people who visits the business website, where they come from, what they did once they were there, and many other details. Online advertisement also allows full control and analysis since one is able to manage how many times to show up in the search engines, thus make it possible to gain huge returns for the business (Rogers, 2010). Disadvantages One key disadvantage that is associated with online advertisement relates to advertising overload as there is incredible amount of clutter on most web pages. This arises from the fact that ONLINE AND NEWSPRINT ADVERTISEMENT every advertiser tries to draw the attention of web viewers, making readers have access to too much information which they can hardly digest. Under these circumstances, the web viewers normally choose to ignore the advertisements and this will lead to low rates of return. Also, online advertisement is still a new concept for many advertisement agencies, which simply cannot tell just yet which advertising method works best (Rogers, 2010). 28 ONLINE AND NEWSPRINT ADVERTISEMENT 29 CHAPTER 3: METHODOLOGY Introduction In research undertaking, the methodology section is one of the crucial areas to be tackled in a proposal document because it forms the basis of the results of research findings. A research can be faced with big challenges due to wrong choice of method used. To avoid this, good planning of the method is essential and in order to get reliable results. The issue of reliability establishes that a research should have the ability to show consistency in the results even after a study is repeatedly done by different researchers. Reliability in research study can also be enhanced through good structure of the methodology. When the correct data collection methods are used, proportional samples are collected, and the correct method of analysis is used, a research can achieve validity. Since this thesis is inductive in nature, it prompted the application of a qualitative methodology. This means that the views of newspaper publishers and advertisement experts have been given a lot of weight. This was done by administering both physical and online questionnaires as well as conducting in-depth interviews—each lasting nearly 45 minutes. Those interviewed had to be newspaper publishers, advertisement agencies, and general newspaper readers in Malaysia who have been in the sector for the last five years. Moreover, at the time of the interview, they were actively engaged in related media and general businesses. This ensured very rich data was gathered from persons with a wealth of experience. Data Collection Methods The key purpose of data collection was to ensure that a rich set of description was obtained. To achieve this, the interviews were transcribed in real time by the interviewer. The ONLINE AND NEWSPRINT ADVERTISEMENT 30 responses were then reduced and analyzed by adopting principles of data codification and clustering (Miles & Huberman, 1994). This was supplemented by administration of questionnaires as well as comprehensive review of relevant literature. Sources The data gathered for this research is from a wide range of documentary sources relating to newspapers as advertisement medium in general as well as those specifically relating to print newspaper and online newspaper giving special emphasis to The Star Publications. These mainly included policy documents and academic and the non-academic documents. First, journals on newspaper advertisements were searched. Second, electronic databases were searched using key words like ‘newsprint advertisement’, ‘online advertisement’ ‘real The Star newspaper’ and ‘effects of online advertisement on newsprint advertisement. ’ Literature review included both conceptual and empirical works, with about 15 articles reviewed for this study. Interviews The interviews dwelt on the following areas: ? The considerations when choosing advertisement media ? The relationship between newspaper readership and circulation and advertisement impact ? The means of promoting advertisement on both print newspaper and online newspaper so as to enable business reap maximum benefits from these advertisement media ? What the future holds for print newspapers and online newspapers, with emphasis on The Star Daily and The Star Online. ONLINE AND NEWSPRINT ADVERTISEMENT 31 Questionnaires A questionnaire survey of the newspaper publication sector was conducted to understand the aspects of print newspaper and online newspaper advertisements in Malaysia. The survey was explanatory in nature as the objective was to gain insight on the effects of online advertisement on newsprint advertisement. The questionnaire was administered to nearly 100 Malaysia entrepreneurs, 100 Star Publication readers, and over 100 advertisement experts. The set sent to the entrepreneurs and advertisement experts included a cover letter, which explains the purpose and need for the study, the questionnaire document, and a prepaid reply envelope. Letters reminding the respondents of the questionnaires were later sent to those who had not responded within the three weeks duration. Case Study This thesis involves classical use of case studies to gain a deeper insight through the application of a set of ideas. A multiple case study approach helps in developing a theory which is better grounded, more accurate, and more generalized (Eisenhardt & Graebner, 2007). Case studies are introduced to test the possible effects that advertising in online newspapers could have on advertising on print newspapers, and the users’ adoption of one over the other. The use of case study is important in practical testing of theories with practitioners in real life situation. The case study organizations are selected based on the idea of theoretical sampling. This is because when it comes to building a theory, theoretical sampling tends to be preferred as compared to generalized concept found in statistical studies. This means that the cases are chosen for theoretical and not for statistical reasons (Schroeder, Linderman, Liedtke & Choo, 2008). An analysis has been developed on how the use of online advertisement is steadily gaining popularity among entrepreneurs in Malaysia, and particularly the use of The Star Online. ONLINE AND NEWSPRINT ADVERTISEMENT 32 Survey Analysis From the nearly 100 questionnaires that were mailed to entrepreneurs, 85 were returned. This represented an 85% response to the questionnaires. However, those that contained usable data were only 70, thus a satisfactory response rate can be said to have been reasonably attained. From the 100 questionnaires administered to advertisement experts, 80 were duly completed and handed over. From these about 74 contained usable data representing nearly 80% response rate which can be considered satisfactory. Ninety-five out of the 100 readers of both versions of The Star duly responded to the questionnaires and all had useful data. Chart 1 Treatment of Data In research, the data collected need to be synthesized in order to make sense with regard to what is being studied. The data from the questionnaires in this research were analyzed extensively to retrieve the information contained in them (Zikmund, 2003). The triangulation method for data analysis and interpretation was used to interpret the data collected, basing arguments on grounded theory (Dick, 2000; Knafl & Breitmayer, 1991). In addition, the information obtained from the case study were analyzed individually and thereafter, a comparison was made between the different data sources. ONLINE AND NEWSPRINT ADVERTISEMENT 33 Research Limitations The main limitation that may be pointed out in this research is the use of a single case study. However, it is also true that online advertisement is still a recent concept that has not gained much popularity among entrepreneurs. At the same time, the single case approach has weight in the sense that it allows the achievement of a comprehensive analysis. Some of the information have also not been validated through multiple case analyses so as to provide a solid and practical basis for understanding the effects of online advertisement on newsprint advertisement. Rigor, Validity, Reliability, and Ethics The four categories of quality management in research were highly considered. These include validity, reliability, ethics, and rigor (Zikmund, 2003). Reliability of a research is its ability to demonstrate consistency in results; this was achieved through the control of sample by stratifying the population to get a more representative sample. On the other hand, validity is the ability of a scale to measure what it is intended to measure but not going beyond the topic of the study. The triangulation method was used to control this aspect in the thesis. Ethics involves adherence to the norms accepted in gathering of information and this has been ensured by providing secrecy on the information collected from the entrepreneurs. Lastly, the rigor of the research was directed toward efficient sample size in a critical facet in any investigation. The main purpose that a researcher utilizes a sample is to reduce the charges and to collect important data faster (Zikmund, 2003). ONLINE AND NEWSPRINT ADVERTISEMENT Human Rights Protection The people who were interviewed were assured of their confidentiality. In addition, the information gathered ensures the people’s privacy. The entrepreneurs and their businesses will have their rights protected. Research Schedule/Timeline This research took a period of eight weeks. This is considered an ideal timeframe given the busy schedule of some of the subjects who were to be interviewed and have granted appointments at later dates. A detailed summary of the work plan for the research has been tabulated below: Table 1: Work Plan Week 1 Week 2 Week 3 Week 4 Week 5 Week 6 Week 7 Week 8 Research proposal Preliminary literature review search Literature review and writing Interviews Case study collection Interview editing, coding and interpretation Report interpretation Report writing and presentation 34 ONLINE AND NEWSPRINT ADVERTISEMENT 35 CHAPTER 4: RESULTS Research findings indicate that The Star Online is not yet well explored as regularly as The Star Daily print version. According to the survey, only 41% of the users of The Star Online read it daily, as opposed to the 60% who read The Daily Star daily. Chart 2 Seventy percent read The Star Online edition several times a week, while 80% read The Star Daily several times a week. Only 5% of online users say they never read a print version. Online newspapers are read less frequently and also for shorter periods than printed newspapers. Four out of five users (81%) spend less than an hour reading The Star Online on days when they read it. Only 35% of print readers spend such a short time on it. About one-third of the readers of both The Star Online and The Star Daily were unwilling to pin themselves down to a particular time of day for reading the paper. One in four (25%) said they read The Star Daily between 5 and 9 a. m. The main time for reading The Star Online is around 6 p. m. (38%)—this is the time preferred by users of the online edition, which can be read ONLINE AND NEWSPRINT ADVERTISEMENT 36 on the evening before the printed version appears or which are updated several times in the course of the day. In The Star Online version, the classic sections of the newspaper are the most frequently used. The section Local News is also highly popular. One in three readers of the online version uses the archive frequently (32%) and only about one-third of users did not read the small ads (37%). Items with entertainment value or with feedback possibilities were not very popular. Clear differences emerged between the different kinds of versions, and this only shows that preferences are transferred from the print media to their online equivalents. Proof of this is the strong interest in Local/Regional Affairs of Internet users of local and regional newspapers or the importance attached to up-to-date information on politics and business matters. A number of questions dealt with the comparison of the information content of The Star Online compared with The Star Daily. Compared with the print version, the online newspaper was rated 45% of the respondents as providing more expanse of information, while only 30% voted in favor of the print version on this criterion; 20% rated both versions on this count. The smaller size of The Star Online compared with The Star Daily may be the reason that the print newspaper was rated by considerably more respondents as providing greater scope of information. Chart 3 ONLINE AND NEWSPRINT ADVERTISEMENT 37 Regarding finding information in the paper, the position is more positive for The Star Online: 50% of users stated that they could find their way around just as well as in The Star Daily, while 20% were able to find their way around the online version better. With regard to entertainment value, 40% of users found The Star Online just as good as print version, 35% of users rated print version better and 27% favored online version. What about reader loyalty? About 65% would have chosen The Star Daily and just fewer than 30% would have preferred The Star Online, if only one of the versions had been available. The decision in favor of the print version was based on its portability, while the advantages of the online version were seen as being its accessibility from outside the normal circulation area and the avoidance of unwanted paper. The main advantage, however, in the eyes of the respondents was that online newspapers are normally provided free of charge. It is therefore not surprising that only 35% of users would be prepared to accept a charge. Out of these, 80% stated that they would only be willing to pay for online newspapers if they were cheaper than print newspapers. Only 1% of those users willing to accept a charge could imagine paying more for online newspapers. Apparently, then, users are not willing to pay for the advantages of online newspapers. ONLINE AND NEWSPRINT ADVERTISEMENT 38 CHAPTER 5: DISCUSSION The case study of Star Publications shows that online newspaper users base their activities and/or expectations on the print newspaper and use or design their product accordingly. The online user knows what to expect of a site as the online version retains the name of the printed version, use a similar layout, and similar contents. Moreover, the positive image of a paper can be transferred to the internet. On the other hand, too strong orientation toward the printed original could mean that the possibilities offered by internet technology are not fully exploited—that copy is simply lifted from the printed version. Given such trends toward the future consumption of newspapers, it is clear that online newspapers are steadily taking over the readership of print newspapers. This has the potential of influencing the choices of advertisement media, which entrepreneurs will be making regarding print newspapers or online newspapers. The concern for newspaper publishers would be about the timeframe for which their print newspaper audience would be big enough to justify such huge investment toward publication and distribution of print newspapers. Similar concern would be to entrepreneurs and businesses which still rely heavily on print newspaper for their advertisements. Are they likely to continue using print newspapers for their advertisements or the trend would most likely shift toward online newspapers? The introduction of charges for use seems scarcely possible—at least not as long as the same or similar information is available on the Internet free of charge. The doubts of the advertising industry may evaporate as the Internet becomes increasingly widespread and commonly used (Mutter, 2010). ONLINE AND NEWSPRINT ADVERTISEMENT 39 CHAPTER 6: CONCLUSION AND RECOMMENDATIONS Major Conclusions It would be quite wrong and misleading to rule out the future of print newspapers as advertising media just because of the increased use of online advertising. The reality is that paid circulation newspapers like The Star and Sunday Star still remain very popular advertising media for both local and international businesses. Print newspapers are the most aged forms of mass media, and will thus continue to be dominant in this field, recording big volumes of advertising revenue. Multinationals and local convenience store will continue to depend on print newspapers for their advertisements. Print newspapers are found in each and every community worldwide and readers are very fond of them (Brassil, 2010). Both online and newsprint advertisement have their characteristics which show strong and weak points. This explains why despite the perceived decline in readership of print newspapers, a scan through a print newspaper will reveal a number of businesses that continue to place their advertisements on daily basis. The continued presence of advertisements on newsprint clearly indicates that it still works as a very effective advertisement medium. Although printed newspaper no longer enjoys exclusive monopoly as the predominant source of news, it is clear that they still remain a strong factor in their specific sphere of influence, and online advertisement is not about to edge it out (Brassil, 2010) Recommendations 1. Entrepreneurs should highly consider using both print and online newspapers for their advertisements since both have reasonable number of loyal readers. ONLINE AND NEWSPRINT ADVERTISEMENT 2. When placing advertisements on online newspapers, designers should avoid putting a lot of emphasis on feedbacks since readers rarely give them attention. 3. Advertisements on both versions of newspapers should be critically placed on segments that are frequented by readers so as to attract their attention with ease. 4. Links placed on online newspapers should be more easy to use so that readers can easily navigate through the paper. 5. Most advertisements that target younger persons should be preferably placed on online newspapers while those targeting older people should be placed on print versions.

Contrasting Sonnets 18 and 116 by William Shakespeare Essay

The two poems I will be comparing and contrasting in this essay are two of William Shakespeare’s most famous sonnets. Sonnets numbered 18, ‘Shall I compare thee†¦Ã¢â‚¬â„¢ and 116, ‘Let me not.’ Both of these poems deal with the subject of love but each poem deals with its subject matter in a slightly different manner. Each also has a different audience and purpose. In the case of ‘Shall I compare thee†¦Ã¢â‚¬â„¢ the audience is meant to be the person Shakespeare is writing the sonnet about. Its purpose is to tell the person it’s written about how the speaker feels about them. In the case of ‘Let me not’ the audience is anyone who wishes to read it. Its purpose is to introduce what love should be like. This makes ‘Shall I compare thee†¦Ã¢â‚¬â„¢ much more personal and realistic as a poem about love. ‘Shall I compare thee†¦Ã¢â‚¬â„¢ seems to deal more with the idea of a lover rather than the idea of a relationship, as ‘Let me not’ does. ‘Shall I compare thee†¦Ã¢â‚¬â„¢ deals with the idea of a perfect lover and the fading beauty of both women and the seasons. ‘Let me not’ is about ideal love in its most perfect and purest form. In ‘Shall I compare thee†¦Ã¢â‚¬â„¢ Shakespeare describes a lover ‘more temperate’ than a summer’s day. Shakespeare asserts the opinion that the beauty of summer is nothing compared to this perfect human being. In the poem Shakespeare deals with the fading beauty of this perfect human being and lover. Shakespeare expresses the sentiment that even though outer beauty fades inner beauty (‘eternal summer’) will not fade. The perfect lover’s beauty will not fade because she has been immortalised in a sonnet. ‘So long live this, (sonnet) and this gives life to thee.’ In ‘Let me not’ Shakespeare vocalises the perfect love that does not alter ‘when it alteration finds.’ It is a ‘marriage of true minds’ two like minded people joined in a relationship built on understanding and trust. In both sonnets Shakespeare uses a lyrical and narrative method to convey his points. Also the tone in each is a loving one, although ‘Let me not’ has a slightly more didactic tone. Shakespeare believes so completely in this perfect love that if he is proved wrong he must take back all his writing. Even goes so far as to say that if it is not true then no man has ever  really loved. As both of these poems are sonnets they follow a set form. Three four line stanzas followed by one set of rhyming couplets. This style is known as the Shakespearean sonnet form. Each line in every stanza is of a similar length, and it is similar in style to all of Shakespeare’s sonnets. This gives it a regular and controlled rhythm with enjambment. Especially in ‘Let me not’ on line 2 leading onto line 3. It is orderly in structure, which in my opinion goes very well with the subject matter of the sonnets. ‘Let me not’ describes love as ‘ever-fixed’ and ‘never shaken.’ The only thing to break this rhythm is at the end, the rhyming couplet. Shakespeare uses the couplet to reiterate the point he is making in the last two lines. Both sonnets follow the same rhyme scheme. It is also a very simple rhyme scheme A B B A, C D D C, E F F E, G G. This rhyme scheme is in keeping with many of the other sonnets, following the Shakespearea n sonnet form. There is plenty of imagery in both of these sonnets. In ‘Shall I compare thee†¦Ã¢â‚¬â„¢ Shakespeare uses the image of time and the changing of the seasons to show the coming of old age, or rather the loss of youth and beauty. Shakespeare starts off by getting his speaker to ask a rhetorical question to his lover. Shall I compare thee? He is almost asking his audience if this is the right comparison he is making. In the second line of the first stanza he makes up his mind that this comparison is not nearly good enough. Summer is by far the loveliest season and even that pales in comparison to this perfect lover. The reason for this is simply that ‘sommers lease hath all too short a date.’ Summer will fade away quickly but the perfect lover will stay beautiful for longer. Because Shakespeare describes this lover as being more temperate than summer he is free to explain how. She is not affected by her splendour as summer is affected by its. The magnificence of summer is overwhelmed by the intensity of the sun’s light. In this sonnet Shakespeare is saying how summer is too brief, and so are youth and beauty. ‘Every faire from faire sometimes declines.’ The repetition of the word faire is used to signify it’s two meanings within the context of the poem. The first is its simple meaning, a  fair day, clear and beautiful. The secondary meaning is the deeper meaning, a fair woman. This second meaning of faire is used to indicate that beauty will one day fade away too like summer does every year. Shakespeare addresses the idea of fading beauty in the third stanza. ‘But thy eternal summer shall not fade.’ Her internal beauty will not leave her, though her external beauty might. She will not grow old or ugly as she has been immortalised in poetry. She will forever be remembered, as she is in this poem in its ‘eternal lines.’ The rhyming couplet at the end of the sonnet summarises the whole poem and finalises it. The summers sun dims and fades away, but the life and beauty of the subject of this poem will be eternal. In ‘Let me not’ the imagery is mainly concerned with unmoving and unchangeable love. The sonnet describes how true love will not change to fit in with circumstance, nor when face with a uncertain situation will it cease. It is described as not being ‘Time’s fool,’ love is not at the mercy of time nor subject to change. Shakespeare describes it as ‘an ever fixed mark,’ that watches storms yet is unmoving. A love that is like a star guiding people. This love described is like a beacon shinning out to all the lost soul trying to find their way back. Love can only be measure to a small degree, but we still do not fully understand it. I believe that what Shakespeare is trying to say is that love’s worth will forever remain a mystery. In the final two lines Shakespeare, one again, uses the rhyming couplet to summarise the sonnet. He is so sure of this ever-fixed mark that he is willing to stake his writing on it. He is even prepared to claim that if this love does not exist then no one has ever really loved.

Globalization and Accountability Essay

A better quality of life has been the objective of societies and nations. This has been pursued since the ancient times to the present. About one hundred years before the Trojan wars, Minos, mythical son of Zeus, organized a communal society in the island of Crete. For centuries, universal justice and virtue reigned in the island. Conditions were similar to the fabulous Shangrila of the Lost Horizon. It was like a paradise for the people. They contributed their individual ideas, talents, skills, and labor to the community for its development, and for he good of all its members. The needs of the people were justly supplied, and they were happy and contented. Plato, the Greek philosopher, designed an ideal state in his book, The Republic. He proposed common ownership of properties as a general rule. The concept of equality of Plato was further improved by Christian doctrines. However, more active and courageous social reformers emerged into the limelight during the age of Enlightenment and Industrial Revolution. Rousseau, Fourier, Bentham, Owen and Marx were the more prominent among them. They stressed the social aspects of the national order, such as cooperation, perfectibility of human nature, and other human virtues. The clamor for equality was not only political but also economic and social. The abuses of the capitalists and landlords, and the great disparities in income and wealth were the primary targets of reformers. The aforementioned economic and social problems still pervade in many developing countries. Throughout the history of the development of nations, only very few have become rich, such as those in North America and Western Europe. Most of the poor countries are found in Africa, Asia and Latin America. In terms of goods and services, the gap between the poor and the rich countries has become wider and wider. In view of the presence of modern transportation and communication, leaders of the poor countries have seen the tremendous prosperity of the rich countries. As a result, people from poor countries have developed the tendency to emulate the rich countries- their economies, technologies, ways of life, and even the architecture of their houses and buildings. However, some intellectuals have realized the disadvantage of such colonial mentality. They have crusaded for economic nationalism to free their countries from the exploitations of the rich counties- and from the weaknesses of their own people. Industrialization has been their dream of solving their persistent problems like poverty, insecurity, and excess population. Even Nehru of India claimed that real progress must ultimately depend on industrialization. Every nation, rich or poor, has economic problems. However, these are more serious and widespread in poor countries. Economic problems do exist because of two fundamental facts: resources are limited and human wants are unlimited. Human wants cannot possibly be all satisfied because resources are scarce. For example, every family wants a house and a farm. This is not possible in many countries, especially in less developed countries. In fact, most countries cannot even meet the most basic needs of their people like food, clothing, and shelter. In the case of the United States of America, the people are capable of satisfying their essential needs. If some groups cannot, it is the government that provides them with basic goods and services. Welfare programs and other social security benefits are made available to the less fortunate, and to the aged. But still, rich countries have economic problems. People, human as they are, are not ultimately satisfied with the consumption of basic goods only. Naturally, they aspire for a higher standard of living. And it is the responsibility of the economic system to help the people acquire it. The economic system of any nation has different factors that are being considered in order to establish and open greater economic opportunities (Soros, 2002). Globalization The remarkable progress in communication and transportation has exposed the high standard of living of a globalized nation. Through foreign travels, periodicals, and movies the peoples of the less developed countries have seen the many wonderful and modern things which have been created by an industrial society like the United States of America, France or Japan. In contrast, many leaders of the third world countries have realized the big difference in their still primitive products of development. Thus, their impressions of a globalized and industrialized economy have further improved. Henceforth, there has been a strong clamor among many of the third world countries for globalization. For years, this has been their aspiration. Through globalization, they believe they can eliminate the problems of poverty, insecurity, and overpopulation. No less than the great Indian statesman Nehru said that real progress must ultimately depend on globalization (Thompson & Strickland, 2003). However, globalization or globalizing a less developed country is certainly not an easy task. There are great obstacles along the long path of globalization. It is not only massive capital, modern technology, competent management, and skilled labor that are required. Well developed commercial sectors are also needed. And of course, the most important requirement for globalization is the restructuring of values and institutions in society. In spite of the formidable barriers to globalized development, it is not completely impossible for a less developed country to globalized economy. There were several poor nations which became industrial economies. They were able to conquer an almost impossible dream through a vigorous and sincere implementation of economic, social, and political reforms. Former countries like England, Germany and the United States of America met fewer difficulties in globalizing their economies because of most favorable economic and political conditions. There are several processes being followed in terms of modern growth brought about by the system and principle of globalization. It must be noted that globalization among the developed countries did not happen overnight. Prior to their globalization, they experience various changes and improvement. The following are the most notable: 1. Economic, social, and political institutions were restructured to pave the way towards globalization and industrialization. 2. There was a rapid technological improvement. 3. Factors of production like capital, labor, and entrepreneurial scheme were made to be more responsive to globalization and industrialization. 4. Substantial improvement in transportation, communication, and electrification were undertaken. 5. Social facilities and services were increased. 6. Agricultural and commercial industries became variable. The aforementioned developments were greatly responsible in the globalization of the highly developed countries. Clearly, their economic growths did not go through a quick and easy process. They laid down the foundation of their industrial development. Such experiences of the industrial countries should provide a lesson to less developed countries that are aiming for rapid globalization and industrialization. However, there are some countries that have achieved very rapid industrial growth. But the other sectors of their economy have not developed as fast as their industries. For instance, there have been no appropriate changes in some industries such as the agricultural industries, public administration, social structure and values among other things and industries. But then again, it can be seen that there is more rooms for globalization even if it means that other industries are left behind. Moreover, there has been a great need for private sectors to be improved and flourished in order for globalization to push through. As far as the economics is concerned, the big challenge is poverty, and the surest route to sustained poverty reduction is economic growth. Growth requires good economic policies. The evidence strongly supports the conclusion that growth requires a policy framework that prominently includes an orientation towards integration into the global economy. This places obligations on three groups: those who are most responsible for the operation of the international economy, primarily the governments of the developed countries; those who determine the intellectual climate, which includes this audience but also government and non-government organizations and individuals; and the government of the developing countries who bear the major responsibility for economic policy in their countries. Economic globalization, the ongoing process of greater economic interdependence among countries, is reflected in the increasing amount of cross-border trade in goods and services, the increasing volume of international financial flows, and increasing flows of labor. As is well known to our profession, economic globalization thrived in the period before 1914, but was set back by the two World Wars and the Great Depression. 6 The international financial order that was established at the end of World War II sought to restore the volume of world trade, and by 1973, world trade as a percentage of world GDP was back to its 1913 level – and it has continued to grow almost every year since. While the founders of the Bretton Woods system saw the restoration of trade in goods and services as essential to the recovery of the global economy, they did not have the same benign view of capital flows. Nonetheless, capital flows among the industrialized countries did recover during the 1950s, and intensified in the 1960s. Rapidly they became too powerful for the pegged exchange rate system to survive, and by 1973, as a result of the impossible trinity – of a pegged exchange rate, capital mobility, and a monetary policy directed at domestic objectives – the Bretton Woods adjustable peg system had to give way to flexible exchange rates among the major countries. Capital flows to developing countries grew more slowly. In the late 1970s and early 1980s they consisted mainly of bank loans; by the 1990s they took the form mainly of foreign direct investment and purchases of marketable securities. And as the volume of international capital flows to and from the emerging market countries – the more developed and larger developing countries – increased, the impossible trinity once again asserted itself, and in a series of crises, country after country was forced to give up its pegged exchange rate and allow the currency to float. By now, the gross volume of international capital flows relative to global GDP far exceeds the levels reached in the period just before 1913, though net flows of foreign direct investment have not yet attained the extraordinary levels of the decade before World War I. It is generally believed that with respect to migration and labor flows the modern system is less globalized than it was a century ago. In 1911, nearly 15 percent of the United States population was foreign born; today that number is probably a bit above 10 percent. Emigration rates from Europe, especially Ireland and Italy, were amazing: 14 percent of the Irish population emigrated in the 1880s, and over 10 percent of the Italian population emigrated in the first decade of the twentieth century. Jeffrey Williamson (2002) attributes a significant part of the convergence of income levels in the Atlantic economy in the late nineteenth and early twentieth centuries to mass migration. Whether or not migration and labor flows are greater now than they were a century ago, we are becoming more globalized in this regard too, for migration rates have been rising – and in a potentially important way, for more migration than in the past is from less to more developed countries. All this is at an abstract level. In terms of people’s daily lives, globalization means that the residents of one country are more likely now than they were fifty years ago: to consume the products of another country; to invest in another country; to earn income from other countries; to talk on the telephone to people in other countries; to visit other countries; to know that they are being affected by economic development in other countries; and to know about developments in other countries. Globalization is much more than an economic phenomenon. The technological and political changes that drive the process of economic globalization have massive noneconomic consequences. In the words of Anthony Giddens, a leading sociologist: â€Å"I would have no hesitation in saying that globalization, as we are experiencing it, is in many respects not only new, but also revolutionary. Globalization is political, technological and cultural, as well as economic. The non-economic aspects are at least as important in shaping the international debate as are the economic aspects. Many of those who object to globalization resent the political and military dominance of the United States, and they resent also the influence of foreign – predominantly American – culture, as they see it at the expense of national and local cultures. The technological elements matter in practice as well as in the debate. For instance, the events of September 11, 2001 could not have taken place before the current global era. The communications and transport systems that have accelerated the pace of globalization are also at the disposal of terrorists, money- launderers, and international criminals. On the positive side, improvements in communications and the spread of information were critical to the collapse of the Iron Curtain. People learned what was happening in other countries, and understood that they did not have to live the way they were living, and the Iron Curtain fell. A broad range of critics is arrayed on the other side. Among them are academics, opinion leaders, individuals and groups who see their interests being affected by globalization, politicians, NGOs, and demonstrators – and these categories are not mutually exclusive. To listen to the debate in the terms each side paints the other, who believes that all is for the best in the best of all possible worlds, and those who believe that the world is going to hell in a hand basket. That is doubly misleading. In the first place, many of those who regard themselves as pro-globalization know that there is far too much misery in the world, that there are many wrongs to be righted in the global economy, and that it could be made to operate much better. And on the other side, many – but not all – of the critics are not against globalization. Rather, from NGOs demonstrating for further debt relief and campaigning for greater access of developing country exports to industrialized country markets, to academic critics questioning current policy views, many are seeking a better and fairer globalization.

Legal Professionals Report Assignment Example | Topics and Well Written Essays - 750 words

Legal Professionals Report - Assignment Example Nancy B. Heller’s education can be traced back to 1978, when she graduated from the Indiana University, with a Bachelor of Arts degree in Forensic Studies. Ms. Heller’s stint with the legal corridors is longstanding, given that in 1999, she became a Registered Paralegal. This admission into the Registered Paralegal came about as a result of Heller having passed the Paralegal Advanced Competency Test, which is carried out under the aegis of the National Federation for Paralegal Associations. From 1999 to 2011, Ms. Heller served as an Adjutant Professor at the Capital University School of Law Paralegal Program as a lecturer of Civil Litigation, Law and Ethics Office Practice and Trial Preparation and Practice. Particularly, Ms. Heller specializes in areas such as access, summation, accurint, E-discovery and PACER. According to Kirkwood (2009), it is important to note that the prerequisites that qualify the position that Ms. Heller presently occupies are not limited to the achievements discussed above. Particularly, Ms. Heller has played immense roles in community and professional initiatives. Ms. Heller served as: the Respite caregiver for the Hospice of Columbus (1994-2001); coordinator of the Walk for justice, the Legal Aid Society, Columbus, (1993-1997); the March of Dimes for Walk-America Participant and Coordinator (1985-97); the Volunteer, Greater Columbus Arts Council (1984-97); and the Trustee, Alpha Epsilon Phi Foundation (1995-7), among others. Alongside these educational achievements and illustrious professional experience, Ms. Heller in 2010 won the prestigious Ohio Jefferson Award for Public service. The Court-Appointed Special Advocates for Franklin County (CASA) is the organ that had nominated Ms. Heller, following Heller’s advocacy for neglected and abused children, and for her vehement support of the terminally ill, while working with Zusman Community Hospice. Prior to this, Ms. Heller had been named as being among the top 15 paralegals in America, in Lessons from Leading Paralegal Experts, 2008. The foregoing shows clearly that not only is Heller’s paralegal record impeccable, but also a seasoned one, spanning from as far back as 1978. Heller was able to ascend to her current position by the virtue of being a member of the Registered Paralegal (a qualification she has held since 1999), and her educational merit and experience in the field of law. At the moment, Ms. Heller is serving: in the Editorial Advisory Panel for the Legal Assistant Today (from 1999); as the Respite caregiver of the Zusman Community Hospice (since 2004); and as the court-appointed Guardian Ad Litem for the Court-Appointed Special Advocates for Franklin County (since 1994). Heller also serves as a litigation paralegal in the Columbus offices of Sater, Vorys, Pease LLP and Seymour. To this effect, she handles class and complex litigation issues such as toxic tort, products liability, employment and commercial cases. This mea ns that the responsibilities that Heller discharges are immense, cross-organizational and multiple. Kirkwood (2009) adds that one of the incidents that served as Heller’s source of challenge occurred when Nancy B. Heller and the Vorys Legal Counsel attempted to preside over matters relating to the Cleveland’

WW2 Japan and China's war AKA the Second Sino japanese war Research Paper

WW2 Japan and China's war AKA the Second Sino japanese war - Research Paper Example The results of the war were that they were displaced from their homes and properties totaling to billions destroyed1. This paper examines into details second Sino-Japanese War and its effects. The second Sino-Japanese War origin is traced back to the incident in Manchurian which took place in September 1931. Japanese being effectively consolidated had occupied different territories and the Kwantung army went ahead to occupy Munchuria. After this, they established their puppet state In Munchuria known as Manchukuo in February 1932. The Chinese were not happy with this change, but the Japanese forced them to recognize the independence of their puppet states. They opposed this by conducting suppressed anti-Japanese activities and in the process forming an autonomous regional government in Northern China. However, the Japanese succeeds in their quest of forming puppet states because between the periods of 1933 and 1935, the Chinese people were forced through their armies to create two demilitarized autonomous areas to border their puppet state2. The break of the Second Sino-Japanese war was traced back to increased internal opposition to the Japanese government by Chinese citizens who saw that the Japanese policy of making their selves stronger before carrying out an attack was a threat to their sovereignty. In 1937, the Japanese soldiers headed for Beijing and Tainjin demanding that the Chinese soldiers were to surrender under their terms. This was because they knew that the military might of the Chinese could not match them as they were advanced weaponry. However, this did not go as planned because the Chinese clashed with the Japanese as they saw that they were slowly loosing their freedom and country to the Japanese who were foreigners in their land3. The Chinese initial response to this was to place their troops outside Shangai an area occupied by the Japanese. This act greatly agitated the Japanese as they saw this as an act of challenge to their