Theories of European Integration free essay sample

For some mature ages, the scholastic study of the European Communities ( EC ) , as they were alleged, was essentially interchangeable with the overview of European coordinating. The abdominal muscle initio unobtrusive and generally technocratic achievements of the EC appeared to be less significant than the conceivable that they spoke to for the steady incorporating of the conditions of western Europe into something different: a supranational common request. At the point when the coordinating strategy was voyaging acceptable, as during the 1950s and mid 1960s, neo-functionalists and different theoreticians tried to elucidate the method whereby European incorporating continued from unassuming sectoral beginnings to something more extensive and progressively driven. At the point when things appeared to travel harshly, as from the 1960s until the mid 1980s, intergovernmentalists and others tried to explain why the coordinating methodology had non continued each piece wonderfully as its laminitiss had trusted. Despite the distinctions among these natural structures of hypothesis, we can state unmistakably that the early writing on the EC looked to elucidate the method of European incorporating (rather than, state, strategy making ) , and that in making so it drew for the most part ( yet non altogether ) on speculations of universal dealingss. We will compose a custom paper test on Speculations of European Integration or on the other hand any comparative point explicitly for you Don't WasteYour Time Recruit WRITER Just 13.90/page In the primary version of this volume, Carole Webb ( 1977 ) reviewed the contention among the so prevailing schools of European coordinating, neo-functionalism, and intergovernmentalism, pulling from each assault a lot of findings and theories about the idea of the EC strategy method. So also, here we survey neo-functionalism and its situations about the EU strategy method, thus the intergovernmentalist reaction, each piece great as the refreshing of # 8216 ; expansive intergovernmentalism # 8217 ; by Andrew Moravcsik during the 1990s. In add-on, we inspect later natural structures of incorporating hypothesis institutionalism and constructivism-which offer extremely various places of the coordinating methodology and extremely various derivations for EU strategy making. Neo-functionalism Neo-functionalism In 1958, on the Eve of the constitution of the EEC and Euratom, Ernst Haas distributed his original work, The Uniting of Europe, puting out a # 8216 ; neo-functionalist # 8217 ; hypothesis of provincial incorporating. As explained in ensuing writings by Haas and different bookmans ( e. g. Haas 1961 ; Lindberg 1963 ; Lindberg and Scheingold 1970 ) , neo-functionalism placed a system of # 8216 ; practical overflow # 8217 ; , in which the underlying assurance by authoritiess to put a specific segment, for example, coal and steel, under the approval of cardinal foundations makes power per unit zones to augment the approval of the foundations into neighboring nations of strategy, for example, money trade rates, income improvement, and prizes. Along these lines, neo-functionalists anticipated, sectoral incorporating would deliver the unintended and unforeseen impact of progressing farther coordinating in additional issue nations. George ( 1991 ) recognizes a second strand of the overflow m ethod, which he calls # 8216 ; political # 8217 ; overflow, in which both supranational histrions (, for example, the Commission ) and subnational histrions ( contribution gatherings or others inside the part regions ) make additional power per unit regions for farther coordinating. At the subnational degree, Haas recommended that association bunches runing in a fuse division would hold to cooperate with the universal association accused of the course of their segment. Over clasp, these gatherings would come to welcome the advantages from incorporating, and would in this manner reassign their requests, standpoints, and even their truenesss from national authoritiess to another Center, subsequently going an of import power for farther coordinating. At the supranational degree, besides, natural structures, for example, the Commission would advance such a transportation of truenesss, propelling European strategies and facilitating bargains among the part regions to # 8216 ; overhaul the normal inclusion # 8217 ; . As an outcome of such sectoral and political overflow, neo-functionalists anticipated, sectoral coordinating would go independent, taking to the imaginative action of another political element with its Center in Brussels. The greater part of import piece of neo-functionalists to the study of EU strategy making was their conceptualisation of a # 8216 ; Community technique # 8217 ; of strategy making. As Webb called attention to, this perfect sort Community strategy depended for the most part on the perception of a couple of explicit divisions ( the regular agrarian arrangement ( CAP ) , and the imposts fellowship, see Chapters 4 and 15 ) during the developmental mature ages of the Community, and introduced a recognizable picture of EC strategy making as a method driven by a pioneering Commission and having supranational pondering among part state delegates in the Council. The Community strategy in this position was non only a legitimate arrangement of strategy making foundations yet a # 8216 ; procedural codification # 8217 ; molding the viewpoints and the conduct of the members in the methodology. The cardinal components of this unique Community strategy, Webb ( 1977: 13-14 ) proceeded, were fourfold: 1.governments acknowledge the Commission as a legitimate dealing life partner and envision it to play a functioning capacity in developing an arrangement accord. 2.governments exchange with one another with a committedness to critical thinking, and haggle over how to achieve corporate conclusions, and non whether these are alluring or non. 3.governments, the Commission, and different members in the method are antiphonal to one another, do non do unsatisfactory requests, and are eager to do transient relinquishes in viewpoint of longer term increases. 4. Unanimity is the guideline, asking that exchanges proceed until all dissuasions are survived or losingss in one nation are made up for by augmentations in another. Issues are non seen as independent yet related in a continuous strategy of assurance with the end goal that # 8216 ; log-moving # 8217 ; and # 8216 ; side installments # 8217 ; are conceivable. This Community technique, Webb proposed, described EEC dynamic during the period from 1958 to 1963, as the first six part regions met nearby the Commission to set in topographic point the basic components of the EEC imposts fellowship and the CAP. By 1965, by the by, Charles de Gaulle, the Gallic President, had accelerated the asserted # 8216 ; Luxembourg emergency # 8217 ; , take a firm remaining on the significance of territory sway and seemingly go againsting the inexplicit procedural codification of the Community technique. The EEC, which had been booked to make a trip to broad qualified mass vote ( QMV ) in 1966, kept on taking most conclusions de factoby unanimity, the Commission rose debilitated from its encounter with de Gaulle, and the country state seemed to hold reasserted itself. These tendencies were fortified, moreover, by improvements in the seventiess, when financial downturn prompted the ascent of new non-levy hindrances to stock among EC part regions and when the in tergovernmental features of the Community were reinforced by the inventive movement in 1974 of the European Council, a customary summit meeting of EU caputs of territory and specialists. In add-on, the Committee of Permanent Representatives ( Coreper ) , an intergovernmental natural structure of part state delegates, rose as a significant dynamic natural structure fixing rule law for acknowledgment by the Council of Ministers. Essentially, observational surveies indicated the significance of national gatekeeping foundations ( H. Wallace 1973 ) . Indeed, even a portion of the major progresss of this period, for example, the innovative movement of the European financial framework ( EMS ) in 1978 were taken outside the development of the EEC Treaty, and with no proper capacity for the Commission or other supranational EC foundations. Intergovernmentalism Mirroring these turns of events, another # 8216 ; intergovernmentalist # 8217 ; school of coordinating hypothesis developed, get bringing down with Stanley Hoffmann # 8217 ; s ( 1966 ) guarantee that the country state, a long way from being neglected, had demonstrated # 8216 ; resolved # 8217 ; . Most obviously with de Gaulle, however in this manner with the promotion of new part areas, for example, the UK, Ireland, and Denmark in 1973, part authoritiess clarified that they would oppose the continuous transportation of sway to the Community, and that EC dynamic would mirror the go oning supremacy of the country state. Under these fortunes, Haas himself ( 1976 ) articulated the # 8216 ; outdated nature of territorial coordinating hypothesis # 8217 ; , while different bookmans, for example, Paul Taylor ( 1983 ) , and William Wallace ( 1982 ) contended that neo-functionalists had thought little of the strength of the country state. At a similar clasp, authentic grant by Alan Milward and others ( Milward 2000 ; Milward and Lynch 1993 ) bolstered the position that EU part authoritiess, rather than supranational associations, played the cardinal capacity in the recorded improvement of the EU and were fortified, rather than debilitated, as an outcome of the coordinating methodology. By diverge from neo-functionalists, the intergovernmentalist picture recommended that # 8216 ; the bartering and accord building procedures which have risen in the Communities are minor polishs of intergovernmental discretionary dealings # 8217 ; ( Webb 1977: 18 ) . Thus, the early versions of Policy-Making in the European Communitiesfound significant grounds of intergovernmental bartering as the predominant way of strategy making in numerous

Legal Issues Case Study For Nursing Essay -- essays research papers

Lawful Issues Case Study for Nursing Case 2 Nursing Situation: Cindy Black (invented name), a four-year-old youngster with wheezing, was brought into the crisis room by her mom for treatment at XYZ (invented name) medical clinic at 9:12 p.m. on Friday, May 13. Starting triage appraisal uncovered that Cindy was experiencing a sore throat, wheezing respectively all through all lung fields, seal-like hack, brevity of breath (SOB), respective ear torment. Crucial signs on affirmation were beat rate 160, respiratory rate 28, and a temperature of 101.6 Â °Fahrenheit (F) (rectal). Cindy Black was admitted to the crisis office for treatment. Notes composed by the crisis office doctor on starting assessment peruse, "Croupy female; course breath sounds with wheezing; gentle two-sided tympanic film hyperemia. Chest X-beam uncovers respective infiltrates." Drug recommended included Tylenol (acetaminophen) 325 mg orally for raised temperature, Bronkephrine (ethylnorepinephrine hydrochloride) 0.1 millimeter subcutaneous, and screen results. Attendant Slighta Hand, RN (imaginary name) regulated the medicine as requested and the kid was watched for thirty minutes. Miss Hand's diagramming was brief, practically indecipherable, and read, "Medicines given as endorsed. Cindy seen without positive outcomes. Doctor notified." The doctor analyzed the kid; notes read that the youngster had "minimal clearing" because of the bronchodilator. The accompanying prescriptions were at that point endorsed: Elixir of turpenhydrate with codeine one milliliter by mouth, Gantrinsin (sulfisoxazole) 10 Case 3 milliliters, and Quibron (theophylline-glycerol guaiacolate) 10 milliliters. Attendant Slighta Hand, RN graphed the drugs were given as endorsed. Her note at 11:08 p.m. peruse, "Vomiting; incapable to hold medication. Breath expanded (54), temperature 101.4Â °F (rectal); wheezing with expanded trouble breathing." No further notes were made with respect to Cindy's condition on the crisis division record by the attendant, but to express that at 12:04 am, "child discharged from crisis department." Thirty minutes after release from the crisis division, Cindy Black was taken back to the emergency clinic. This time her indispensable signs were missing, her skin was warm without mottling, and the understudies of the eye were expanded however responded slowl... ...30 minutes) Â · Pulse rate, mood, quality (at regular intervals) Â · Respiratory rate, mood, character (at regular intervals) Â · Patency of the aviation route (somewhere around at regular intervals, more if in trouble) Â · Blood pressure (each 30 to an hour) Â · Skin shading and temperature (like clockwork) Â · Level of cognizance (at regular intervals) Â · Emesis sum, character, and recurrence Rundown: Correspondence all through the nursing procedure is pivotal for the arrangement of safe patient consideration reliable with the common expert norm. Spoken correspondence among all individuals from the human services group, and particularly among attendant and doctor for explaining orders, arranging understanding consideration, and detailing critical patient perceptions is imperative to the nursing procedure. Similarly significant is composed correspondence by the medical attendant as brief also, exact sections in the clinical record. References Bernzweig, E. (1996). The medical attendant's obligation for negligence. (sixth ed.). St. Louis: Mosby Creasia, J. also, Parker, B. (1991). Reasonable establishments of expert nursing practice. St. Louis: Mosby Sincere, V. (1993). Clinical abilities in nursing practice. (second ed.). Philadelphia: J. B. Lippincott

Free Essays on Mythic Tragedy

Hydra was an excellent island†¦and then the plague came. The ranchers of Hydra invested wholeheartedly in their harvests and animals. Their large animals trouble were respected all through the land on account of the highest caliber of wellbeing they had. So normally, it came as a stun when the principal bulls were found dead lying in the fields. Doubts emerged regarding the reason for their abrupt passings. Numerous doctors examined the dead bodies, yet found no variations from the norm in the killed creatures. At that point gradually, more ranchers started to lose their dairy cattle to a similar unreasonable illness. It was felt that by isolating the animals from everybody, the development contamination could be controlled, seeing as how the farmer’s centurion populace had been not recognizably been tainted. Be that as it may, the individuals who had been doled out as overseers of the rest of the groups, which had dwindled to a bunch, started to display certain social ch anges. Their tempers were immediately touched off, and they were inclined to vicious sessions. However, with the keeping mixing of the overseers among everyone, the whole centurion cooperation started to disintegrate. Battles were begun, family structure started to separate, yet the reason for such inconsistent savagery and cultural corruption was as yet ambivalent. Numerous who had seen the impacts of the pollution fled the purported wellbeing of the group of centurions, just to be pursued somewhere around the mentally changed centurions. One was blessed enough to make it to the sure after catch and extreme torture...beaten nearly to the point of death he battled toward the coast, liberating a vessel from the docks utilized for different exchanges farming. With an end goal to get away from the wanton carnage and dispirited culture currently getting uncontrolled in his once cherished country the lost centurion destroyed his vessel on the shores of Anelis. Discovering the rough preci pices, the waves pulverizing his debilitated body, he hears the hints of lifeï ¿ ½... Free Essays on Mythic Tragedy Free Essays on Mythic Tragedy Hydra was a wonderful island†¦and then the plague came. The ranchers of Hydra invested heavily in their harvests and animals. Their helpful animals trouble were appreciated all through the land due to the highest caliber of wellbeing they had. So normally, it came as a stun when the primary bulls were found dead lying in the fields. Doubts emerged with regards to the reason for their abrupt passings. Numerous doctors examined the dead bodies, yet found no irregularities in the killed creatures. At that point gradually, more ranchers started to lose their steers to a similar silly ailment. It was imagined that by isolating the animals from everyone, the development contamination could be controlled, seeing as how the farmer’s centurion populace had been not discernibly been tainted. Be that as it may, the individuals who had been alloted as overseers of the rest of the herds, which had dwindled to a bunch, started to display certain conduct changes. Their tempers were imme diately touched off, and they were inclined to vicious sessions. In any case, with the keeping mixing of the overseers among everybody, the whole centurion partnership started to disintegrate. Battles were begun, family structure started to separate, yet the reason for such inconsistent savagery and cultural debasement was as yet ambivalent. Numerous who had seen the impacts of the pollution fled the purported security of the family of centurions, just to be pursued somewhere around the mentally changed centurions. One was blessed enough to make it to the sure after catch and extreme torture...beaten nearly to the point of death he battled toward the coast, liberating a vessel from the docks utilized for different exchanges farming. With an end goal to get away from the wanton slaughter and dampened culture presently getting widespread in his once cherished country the lost centurion destroyed his pontoon on the shores of Anelis. Discovering the rough precipices, the waves walloping his debilitated body, he hears the hints of lifeï ¿ ½...

Approaches to the Study of Religion Essay -- Theology Religion Sociolo

The sociological methodology takes a gander at strict conviction and practice according to the general public. Sociologists are keen on two topics, the centrality of religion in the public arena and the decent variety of structures it possesses (Hamilton 1995/2001:1). It sees religion as a social actuality subject to experimental perception, which produces observational proof (Dillon 2003:7). The human science of religion is a result of the illumination, from which it acquired an inclination to excuse religion as incongruent with judiciousness (Dillon 2003:6). This excusal has had huge effect on the mentality towards religion and it is the reason for the most persuasive worldview throughout the entire existence of the field; secularization. The secularization hypothesis guarantees that religion is or will be on the diminishing in the public eye. So significant was its effect that advanced human science regularly intends to represent the proceeded with nearness of religion in the publ ic arena and has commonly held a somewhat negative perspective on religion just like a shameful subject of study(Davies 2007:2). The explanation behind the secuarlisation can be found in the way that humanism is a hypothesis both guided by and expects to manufacture speculations (Wuthnow/Dillon 2003:21). Hypotheses require examination and speculation. It is difficult to break down a subject without first characterizing the subject (Robertson 1970:34). Definition is an argumentative issue on the grounds that various definitions involve various rules which lead to various examples being indentified in information. Speculations are made by the distinguishing proof of examples in information which are then generalised.(Davies 2007:5). In this manner a definition will endlessly influence the substance and idea of a hypothesis. Meanings of religion in human science fall into two classes, useful and considerable. This exposition will evaluate... ...in the appropriate responses yet in the inquiry. Works Cited Davie, Grace (2007) The Sociology of Religion. London. Sage Publications Dillon, Michele (2003) Handbook of the Sociology of Religion. Cambridge. Cambridge college press Hamilton, Malcom (1995/2001) The Sociology of Religion: Theoretical and Comparative Perspectives. second version. Routledge. London Chase, Stephen J (2002) Religion in Western Society. London. Palgrave McGuire, Meredith B. (1997) Religion: The Social Context fourth version. Wadsworth Pickering, W.S.F. (1984) Durkheim’s Sociology of Religion: Themes and Theories. Routledge. London Robertson, Ronald (1970) The Sociological Interpretation of Religion. Blackwell Sociology Series. London Steinsaltz, Adin (2000) A Guide to Jewish Prayer . New York Wuthnow, Robert (2003) ‘Studying Religion, Making it Sociological’ in Dillon (2003) pp.16-30

Drexler’s World Famous Bar-B-Que

Drexler’s BBQ is a family eatery that is situated on the Third Ward Houston, TX. This café is being open for a long time, and it’s turning into a family custom. A great many ages the business stay at administration, considerably in the wake of being rename, or close for extension and revamp another cutting edge café individuals on the local despite everything discussing it. The café is particular with the privileged insights of the old family plans however just on the food arrangement yet the most significant on the insider facts of the family esteems. The manner in which the family picture the business isn't what number of they sell depends on how the sell, underlined quality including fondness and gratefulness for the client and companions. Here and there apparently are not entirely adaptable with the tasks hours, however is on the grounds that they need to make a point to provide for the network what the network provides for them. They are exceptionally agile to in any case have a business standing and they care about the network that makes it conceivable. At the point when it ‘s to business choice we need to recollect that costumer allow us our notoriety and to stay in business, so at certain point we depend of them. This is exceptionally urgent in this family required on a privately-run company with good and qualities. What job do values play in how Drexler’s Bar-B-Que communicates with its neighbors and clients? Qualities assume a huge job with its neighbors and clients. Purchasers will in general gander at the all out worth and on account of Drexler’s the clients get fantastic consideration. Mrs. Scott continually is checking with clients to ensure they are accepting wonderful assistance. Clients need associations to be receptive to their necessities, give the best cost and item and be expeditious with administrations. Drexler’s likewise offers back to the network, which is a significant piece to being a powerful association. You should offer back to your condition. The café puts stock in supporting the network in offering back to the encompassing African American people group I accept that since this eatery is extremely a family arranged business situated close to the Third Ward, which is a financially burdened neighborhood they need to elevate to residents that there is trust, you simply need to buckle down for it. Is Drexler’s a successful association? Why? I surmise you would state the café proprietors remembered where they originated from and needs to help other people who are destitution blasted get an opportunity to encounter things/occasions that couldn't be experienced without the assistance of sponsorship. Drexler’s is a compelling association. They esteem their clients; offer predominant assistance and an extraordinary item. Drexler’s additionally adjusts to the outside condition. They extended their café so as to suit the developing customer base. Apply the frameworks model to delineate how Drexler’s Bar-B-Que works with its condition. As indicated by the reading material, frameworks hypothesis is the point at which an association takes assets (contributions) from the bigger framework (nature), forms the assets and returns them in a changed structure (yield) Beginning with the information sources the association will enter their qualities and supplies, which they at that point procedure so as to produce an effective. Yield †their brilliant food. Their item is a consequence of the qualities the association and its representatives hold. The yield brings about producing income, which at that point returns into nature through drawing in shoppers to the zone, support a nearby softball crew and a Boy Scout troop.

Whats In Your Backpack

Whats In Your Backpack Its not unusual to overpack for college move-in day. Any Pinterest photo or BuzzFeed article will provide you with an extensive (and quite honestly, exaggerated) list of things, from TVs to cars.  And while these may (or may not) be helpful, there was one area I failed to find expertise on: what to bring in my backpack. First off, it is important to get a high-quality backpack that can carry a heavy load as well as last an entire school year. While a stylish backpack may seem like the priority, quality beats appearance on this one. Recommended backpack brands include Northface, Herschel, Amazon, and Swissgear. Second, and most importantly in my opinion, get a backpack with AT LEAST one cupholder. Carrying a reusable water bottle around campus is not only great for the environment but is necessary for student health. In any given day, a college schedule can fit in 3 miles of walking, and not drinking water can lead to serious dehydration. Third, invest in a backpack with a laptop sleeve. Unlike high school, laptops are generally allowed in classes for note taking and are much lighter than carrying a notebook for each class, not to mention that laptops save tons of paper. A backpack without a laptop sleeve will result in a heavier feel and less protection for the laptop. Last but not least, test your backpack out BEFORE you leave for home. Try walking around the block with a water bottle, a laptop, and a yearbook to check your chosen backpack for optimal comfort. Backpacks without proper comfort and support can lead to back pain, poor posture, and a very grumpy mood. Rachel Class of 2020 I am studying Middle Grades Education with concentrations in Social Sciences and Literacy in the College of Education. Although I now reside in Champaign, I am originally from Vernon Hills, a Northwest suburb of Chicago.

Create a Reflective Piece Using The Gibbs Reflective Model - Free Essay Example

Create a reflective piece using the Gibbs Reflective Model which identifies an incident in the workplace where there was a lack of leadership. Use critical analysis of a reflective cycle to explore how this incident has increased your knowledge and understanding of professional practice with respect to the values and behaviour s in the field of nursing, and how future your behaviours will change. Definition of Gibbs Reflective Cycle Gibbs reflective cycle (1988) is a tool used by numerous professionals, including (but not limited to) health professionals, education workers and those in leadership positions: its purpose is to assist practitioners in reflection, which contributes to continuous personal development (CPD) and helps to ensure that a person is continually learning and improving in their role. The idea is to systematically reflect on a particular situation to ensure that all aspects have been considered and evaluated, as this will assist the reflector in understanding what to do next time they are in a similar situation. The process consists of the following steps: Click to Expand Description: What happened? Feelings: What were you thinking/feeling? Evaluation: What was good about the experience? What was bad about it? Analysis: What sense can be made of the situation? What was really going on, as opposed to what you may have perceived? Conclusion: What was the end result à ¢Ã¢â€š ¬Ã¢â‚¬Å" how well did you think you managed the situation overall? What else could you have done in the situation? Action plan: If the situation occurred again, what would you do? Would you act differently? Is there a skill you can develop or something you can learn to help you to be better equipped next time? Introduction The incident I will be reflecting on occurred whilst I was placed with the vascular team. We had received a request for a duplex carotid scan for a patient on ITU who had been admitted due to a large stroke. Upon arrival we read her notes which highlighted significant aphasia and difficulties with communication. The nurse also informed us that the patient had a long standing memory problem and as a result of this, she did not remember why she had been admitted and would become very distressed when her stroke was discussed. When we approached her to perform the scan we found that she was under minimal sedation and was having assistance from a ventilator. The scan was completed without difficulty and we began to document our findings in the notes. A nurse came onto the ward with two members of the public in order to show them around ITU before the mans surgery. This has been a long-standing protocol which strives to decrease worry before a planned stay in ITU. The members of the p ublic were brought to the bedside where the nurse began to explain what the equipment was and what it was used for. The nurse made no effort to introduce the members of the public or herself to the patient. She also glanced at the patients notes and then informed the members of the public that she had been admitted to ITU because of a stroke. Upon hearing this, the patient became overtly distressed and had to be more heavily sedated after the nurse in charge of her care could not calm her by talking in a soothing manner. This event clearly caused undue anxiety to both the patient and members of the public, in addition to the members of staff who bore witness to the incident. The incident was reported using an in-house critical incident report by both myself and staff from ITU as this was a breach of patient confidentiality and poor practice. Interpretation of the incident Before the incident, I was aware that the nurse was showing the members of the public around the ITU in order to familiarise them with the ward. I was very surprised when the nurse did not check the patients notes beforehand, and the distress caused to both the patient and the members of the public was entirely unnecessary. To critically reflect upon this incident I shall use a well-known reflective cycle from Gibbs (1988). This model is cyclical and is unique because it includes emotions, knowledge, and actions and believes that experiences are repeated, which moves away from the model proposed by Kolb (1984). Some scholars, such as Zeichner and Liston (1996), believe that a wider and more flexible approach is needed by examining values in a critical light and how the practice of this can lead to changes in quality. Description The most important factor in this incident was the lack of intervention from myself or the other healthcare professionals. The nurse should have been made aware that this was not a suitable area to bring the members of the public to. I also assumed that there would not be disclosure of specific patient details as this would be a breach of patient confidentiality policies which are covered in numerous guidelines from the Healthcare Professions Council (HCPC, 2012) and the Nursing and Midwifery Council (NMC 2015). Feelings The main emotion that I felt in this situation was anxiety. I had been to ITU many times before and it is an environment in which I feel comfortable. I had not been to ITU to perform a carotid ultrasound before and I felt nervous as I wanted to perform the test well. I believe that, as a result of this, I moved some accountability to my senior colleague. I found the incident upsetting to witness as the distress was caused by a member of staff and their actions were avoidable. Evaluation My role was to complete the scan and establish the presence or absence of carotid disease, which I did. The results of the scan would have been used to determine the best course of management for this patient. It is important to note that acting in the patients best interests was also part of my role, and I feel that I did not fulfil this completely. The duty to protect patients and patient confidentiality at all times lies with all staff, including myself, my vascular colleague, and the ITU staff. Our failure to act as a team could be explained by Rutkowskis (1983) theory of group cohesiveness. This theory proposes that altruistic behaviour is dependent upon the social norm, and is defined as people helping those in need, and who are dependent upon them for help. Rutkowskis (1983) showed that the group is more likely to act in accordance with the perceived social norm if there is a high level of group cohesiveness. In the situation that I have described, neither my colleague nor I were familiar with the healthcare professionals on ITU and there may have been a low level of group cohesiveness as a result of this. Further work (Koocher Keith-Spiegel 2010) has demonstrated that irresponsible professional behaviour can be averted by informal interventions. People were found to be more likely to take action if they were the senior person in a situation, and most felt that a positive outcome was as a result of their intervention (Koocher Keith-Spiegel 2010). It is important to note that the way in which this outcome was measured (taken from data described as feelings after intervention), may have introduced bias as it is likely that participants felt pleased with their courage in acting in an appropriate manner, regardless of the outcome of the intervention. It is possible that their intervention garnered no difference in professional behaviour. It is important to note that cases of major misconduct, such as those which could result in harm to patients or dam age to the reputation of the Trust, should be dealt with by more formal routes. We completed an internal incident report which automatically flags the incident to senior clinicians and managers which would ensure that this incident was not unheeded. If this incident had not been reported, it would be an indicator of declining professionalism and acceptance of inferior standards of care. Tolerance of poor standards was highlighted by the Francis report (2013) as a consequence of poor staffing, policies, recruitment and training, and leadership. Analysis The patient had a jugular line in place, which I had anticipated would make the scan more difficult and therefore probably contributed to my increased level of anxiety. I feel that if I had not been as anxious I would have been more likely to intervene; however it is clear that both my colleagues and I should have intervened more quickly. I believe that an informal intervention as described by Koocher and Keith-Spiegel (2010) would have been appropriate in this situation. Conclusion Having witnessed the distress caused to both the patient and members of the public, I am now aware of the important of being more assertive if similar situations were to arise in future. Although I believe I should have intervened at the time, the experience I have gained from this has made me more aware of the important of always acting in the best interests of the patient even when this may take courage. I believe that having greater confidence in my ability to scan would have reduced my diffusion of responsibility and allowed me to act in a more autonomous fashion. There should also be a greater emphasis to establish strong working relationships between healthcare professionals to in turn increase levels of group cohesiveness (Rutkowski et al 1983). Action plan My future practice will involve becoming more proactive when I believe that there is a risk to patient confidentiality, and I will not assume that other members of staff will act in a professional manner at all times. I will continue to undertake reflective practice by using the model proposed by Gibbs (1988), and will aim to become confident when protecting patient confidentiality, particularly in situations where I am applying clinical skills which are new to me or that I do not feel completely confident with. As a trainee healthcare scientist, I aim to consistently implement the values and principles as set forth by the HCPC (2012) of a clinical scientist, and although this experience was difficult, I now feel that I have a greater understanding of these principles and values. Changes in norms and behaviours Due to the incident, I have formed a new set of behaviours. The first of these is that I will no longer assume that all members of staff will act in accordance with guidelines about patient confidentiality. Tied to this is a conscious effort on my part to refrain from assuming that I can predict the actions of other healthcare workers and I will always prioritise the welfare of patients in my care. Gibbs (1988) model has allowed me to critically reflect on my behaviours and has allowed me to identify aspects of my behaviour which may be detrimental. Critical reflection of this incident has made it clear that there is a deference to those I deem more senior than myself, perhaps due to a subconscious desire to maintain good working relationships. It is possible that the major obstacles which prevented me from speaking out in this incident were my perception of an authority gradient between myself and my colleague and low group cohesiveness. To prevent future events like this occur ring I will express any concerns about my clinical skills before beginning any procedures in order to both reduce any authority gradient and to also reduce the diffusion of responsibility as much as possible. I now feel more confident in protecting patient confidentiality and will aim to always embody the values and principles of a healthcare scientist. References Dewey, J. (1933). How we think: A restatement of the relation of reflective thinking of the educative process. 2nd edition. New York: Heath and Company. Francis Report (2013), Report of the Mid Staffordshire NHS Foundation Trust Public Inquiry, London: The Stationery Office. Gibbs, G. (1988) Learning by doing: a guide to teaching and learning methods. Oxford: Further Education Unit. Hatton, N. and Smith, D. (1995). Reflection in Teacher Education: Towards Definition and Implementation. The University of Sydney: School of Teaching and Curriculum Studies. Healthcare Professionals Council (2012), Confidentiality à ¢Ã¢â€š ¬Ã¢â‚¬Å" guidelines for registrants, London: Park House. Kolb, D. (1984). Experiential learning: experience as the source of learning and development, New Jersey: Prentice Hall. Koocher, G. and Spiegel, K. S. (2010) Peers Nip Misconduct in the Bud, Nature, 466(2), 438-440 National Committee of Inquiry into Higher Education (1997) Dearing Report: Higher Education in the Learning Society. London: The Stationery Office. Nursing and Midwifery Council (2015) The Code for Nurses and Midwives. London: Park House. SchÃÆ' ¶n, D. (1983) The Reflective Practitioner. How professionals think in action, London: Temple Smith. SchÃÆ' ¶n, D. (1987) Educating the Reflective Practitioner, San Francisco: Jossey-Bass. Quality Assurance Agency (2001). Personal development planning: guidance for institutional policy and practice in higher education. Rutkowski, G. K., Gruder, C. L., Romer, D. (1983). Group cohesiveness, social norms, and bystander intervention, Journal of Personality and Social Psychology, 44(3), 545-552. Zeichner, K. and Liston, D. (1996) Reflective Teaching: an introduction. New Jersey: Lawrence Erlbaum Associates.

Being Human Essay - 1010 Words

The age old question of what it means to be human can be answered through many viewpoints. There are several specie specific qualities that differentiate humans from any other creature, but with that being said, humans are often compared and contrasted with animals and machines. Some of these specific qualities are the ability to interpret, free will, and the use of language, but what does it really mean to be human? Everything created has specie specific qualities. Human beings are closely linked to animals because of the similarities of these specie specific qualities, but these alone do not make humans animals or animals humans. While there are quite a few characteristics that are similar there are enormous differences. One is†¦show more content†¦At most another gorilla could imitate and mock. Speech is the only medium capable of expressing and dissembling historical time. It is the most complex reality of human action and behavior. Speech usually isnt mastered until adulthood because there are so many rules and regulations to follow. In the book of Genesis when it speaks of man being made in the image of God, what is seen is that just as God created the earth, we can give form to the formless. We can make a date with another, and we can plan to do something at a certain time. Humans unlike any other creature can describe an exciting experience, or tell a scary story. Through speech we can say, I dont know, which is the first step to gaining understanding and knowledge. Humans are more than just mere creatures of nature because of the art of remembering, recalling, and through language either written or spoken. Aside from the biological image, humans have also been seen to be like a machine. The mechanical image started when there was a boom in technology; around the time robots came about. Some say that man is like a machine in the sense that man is a complex system behaving in lawful ways. Because of physics, it is a known fact that all things have their own distinct features according to a finite number of fixed laws. Everything happens according to strict forces controlled by the universe. So humans, like machines are programmed by a higher being. While everything does have certain laws thatShow MoreRelatedSartre s Views On Human Beings Essay1302 Words   |  6 Pagesartificial artefacts, for example a paper knife. However, this claim set forth is differed when it comes to human beings as Sartre argues that in this instance existence precedes essence as humans first exist and define their purpose through existing. However, this according to Sartre is not an individualistic view but wha t one man does will define all of mankind as there is no prior essence of human beings thus the image is fashioned in our actions, our thoughts and our interactions with others. In thisRead MoreThe Human Of Human Beings1142 Words   |  5 Pages Humans view themselves as unique and special organisms whom have managed to adapt to all manner of habitats, subsistence pathways and social structures in spite of evolutionary heritage. Humans have been successful in every habitat on the planet, and this is due to technology and the adaptation to form it to the needs and desires of the human species. Author Michael Bess writes a provocative article about how human beings are already cyborgs, due to the enculturation, enskilment and adaptation ofRead More Being and Humans in Heideggers Letter on Humanism and in his Contributions to Philosophy3073 Words   |  13 PagesBeing and Humans in Heideggers Letter on Humanism and in his Contributions to Philosophy ABSTRACT: Heideggers main question, the question of Being concerning human facticity, struggles to uncover the original ground to which humans belong, a ground from which modern society tends to uproot itself through the dominance of calculative and representational thinking. What is most dangerous for Heidegger about this process is that the original ground of humans and beings in general might be coveredRead MoreHuman Beings Are Not Perfect Beings861 Words   |  4 Pagessafe.† Human beings are not perfect beings. People make mistakes, get distracted, lose concentration, miscalculate, make wrong decisions, and get weakened reflexes. However, when humans make mistakes, it is also the humans that recognize their faults, improve on them, and vow to never make the same mistakes again. Yet, in driverless cars, if the computer commits faults, who will be liable? Can the computer accept that it made the wrong move? Inevitably, the blame would direct again to the human beingsRead Mo reHuman Testing On Human Beings1727 Words   |  7 Pageschemicals effect humans and animals? The answer is, we must perform test on something that is similar to the human species. Animals having similar traits and features in the body have often been the experimentation method of choice. By using animals in testing has raised a lot of concern and controversy over the years, but so has testing on human beings. One of the most horrifying examples of human testing was during World War II, the Nazi party in its quest to create the ultimate human species, performedRead MoreThe Podcast Is Human Being721 Words   |  3 PagesThe main topic of the podcast is human being is probably the only animal that thinks about the future and usually that thinking is taken underestimated. The interviewee in the podcast argues that we often think about future as if it would not be so different from the present. However, this assumption generally turns out to be wrong: people would say this year has b een a disaster with horrible events happened to them, but then last if they asked the same question, they may end up saying it was notRead MoreThe Human Nature Of Human Beings1119 Words   |  5 PagesHumans by comparing themselves to nature around them, they can detect their natural connection to the animal world with which they share most of their vital functions. They also have realized that they are unique and emerging over the rest of the natural world. Human beings are the subject of a specific phenomenology which belongs to them only, and whose origin raises critical questions when considered in the context of their habitat, of the Earth, and in the larger sense of things; the universeRead MoreThe Nature Of Human Beings1189 Words   |  5 PagesIntroduction To survive as a species, human beings have to have the desire to live and to live long enough to be able to pass on their genes to their young ones. This is the only way that a species can survive. This desire is inbuilt; we are born with it. We as human together with other animals will tend to seek from the environment that which will enable them to live and survive. These could be food, oxygen, and water. It can also be called self-preservation. Additionally, in our fight to surviveRead MoreThe Is Not A True Human Being1462 Words   |  6 PagesOn the road to becoming fully human, people will face several tests in order to arrive at our targets and goals. Humans will encounter all sorts of obstacles during a lifetime. We need all the strength and determination one can muster in order to become a true human being. Being fully human is always a hope in people’s minds because we’re born into the world with a destiny. When people think about how a human’s instinc t influences a person’s life, greed is one of humanity’s instincts that can profoundlyRead MoreThe Philosophy Of Human Beings2101 Words   |  9 PagesFrom the beginning in the history of human beings, we have wondered what special purpose we have and how we can find it. We have also questioned, if we can choose our own purpose. The new generations say that we can choose our purpose in life rather than finding it, as the classical view tells us. The argument tells us whether or not we choose our own special purpose. The answer is yes. We can choose our own purpose. As a justification, as humans can spend our whole life asking ourselves, which is

Essay on Mozarts Sonata k331 - 660 Words

Mozarts Sonata k331 The first movement of Sonata K331 is comprised of a theme, six variations and a coda. The theme comprises of 18 bars: four times four bar phrases with an extension tacked onto the end. Mozart followed this strict binary theme but this does not mean that the music is at all predictable; he uses different techniques to bring the best out of this form, as detailed later. The extension is an example of Mozart surprising the listener and enhancing the journey to the end of the theme. Each of the groups of four bars ends with a cadence. This is periodic phrasing, one of many signatures of galant musical style (also known as Viennese classical music) that had its emphasis on†¦show more content†¦This could be countered by contrasting the first movement to the radically different form later in the piece and by pointing out that the use of the two bar extension was unusual and Mozart added this primarily to avoid becoming too predictable. A piece lacking in continuity may also have several ideas that may only appear for short periods in the piece or not work well together. However, Mozart uses the same simple melodic ideas throughout this movement that does provide continuity. He achieves this through using the melody within different textures and not using much counterpoint at all. Next is the question of tonal variety- Mozarts use of chords and shape in the piece. There is a good argument for the lack of tonal variety in the piece- in the whole Andante only one type of chromatic chord is used (in bar 12 of variations 1-4). Also, Mozarts reliance on the tonic and dominant chords is evident; in the theme, over 75% of the chords are in the tonic (A major) or the dominant (E major). However, as the variations progress, the listener can hear plenty of tonal structure to ward off criticism. Right from the beginning of Variation 1 (bar 19) the theme is decorated in the right hand with semi-tonal appoggiaturas as well as contrasting semi-quaver octaves in bar 23. There are many tonal marks in the piece-

The Transformation of 1850s California The Sisters...

The California Gold Rush left a huge mark on America. In the novel, The Sisters Brothers, written by Patrick deWitt, the Gold Rush had a large effect on transforming Californian lifestyle and its population. This research paper will prove that America was transformed by the 1851 Gold Rush and that this has been portrayed realistically in the novel. The novel, The Sisters Brothers, written by Patrick deWitt is the story of two adventurous brothers named Eli and Charlie who travel from Oregon to San Francisco during the gold rush in the 1850s. The brothers are hired to find and kill a man named Hermann Warm. They run into a wide range of tough situations and sketchy characters such a rich businessman named Mayfield who runs his own town.†¦show more content†¦When he was 2 he moved to Southern California and grew up travelling back and forth between Vancouver to the United States. Now age 37, he lives in Portland, Oregon. Mark Medley describes how, years ago, the main idea of, The Sisters Brothers, came to deWitt with just a simple few words â€Å"sensitive cowboy† written on a notepad. They spawned a fictional conversation between two cowboys which grew to become the main characters, Eli and Charlie. One day while deWitt was riding his bike, he came across a yard sale and found an old leather-bound volume titled, The Forty-Niners, which contained pictures and text on the subject of the San Francisco Gold Rush. DeWitt focused on the pictures of old prospectors and abandoned steam ships in harbours â€Å"If I hadn’t happened across that book, I think it would have been a much more stationary story, looking at the old pictures and drawings and paintings was much more inspirational than the cold, hard facts.† said deWitt. He cut out pictures of this book and pasted them all over his walls for inspiration. His novel is not like many stereotypical cowboy characters which many Western movies depict. He did not want it to be a research heavy novel which contained too many hard facts. DeWitt would rather focus on his story and the development of his original cowboy characters. The large gold deposits in California were not

John D. Rockefeller The Wealthiest Man Of American History

The wealthiest man in American History. He began from humble origins and worked his way up to becoming one of the most influential businessmen in American History. His business model revolutionized the way unions, and workers operated. He was one of the men who propelled the American Economy to the global powerhouse it is today. John D. Rockefeller was one of the most successful businessmen ever because of these bold business decisions. Rockefeller was born on July 8th, 1939 in a middle-class family in upstate New York. When he was 20 he entered a business partnership, in which they were fairly successful. Rockefeller gained great business exposure along with experience. He then went on to marry his wife, Laura Celestia Spelman. Her father was a wealthy merchant which helped Rockefeller gain the capital to begin his business. He began this business with his brother and a few other investors, and standard oil began with him at the helm. After two years of work, he amassed enough mone y that he was able to pay his father in law back and buy out a few other investors. This was the start of his monopoly. The major problem with the oil business was that there was not a good use for it. Automobiles were not invented yet, and other uses were seen as luxury items. Rockefellers keen insight told him that the streets of Ohio were missing something, Lights. The streets and homes were dark at night not allowing any work to happen. So, Rockefeller realized that the very refinedShow MoreRelatedA Brief Biography of John D. Rockefeller Essay1422 Words   |  6 PagesWilliam Avery Rockefeller was a common pitchman â€Å"doctor† that sold cancer treatment tonics for $25 town to town and city to city. His wife, Eliza Davison Rockefeller, was a deeply religions and very disciplined woman (Poole). John D. Rockefeller was born into a humble existence but was taught many valuable life lessons from his parents. He learned the basics of business paperwork along with the sacredn ess of a business contract from his father and the importance of giving money to church and charitiesRead MoreEffects Of The Industrial Revolution On The United States1212 Words   |  5 PagesSpencer Neal Mr. Connolly US History Term Paper 10 November 2015 The Effect of the Industrial Revolution The American Industrial Revolution changed the United States residents from rural people to individuals that were exceedingly industrialized. They performed their work in processing plants and used machines. Many people took control of the Industrial Revolution such as: JP Morgan, Cornelius Vanderbilt, Andrew Carnegie, and John D. Rockefeller. These men took hold of their respective industryRead MoreJohn D Rockefeller s Legacy Has Impacted American History Essay1720 Words   |  7 PagesMy research paper will consist of how John D Rockefeller’s legacy has impacted American History. John D Rockefeller was the founder of the Standard Oil Company and became not only a major philanthropist, but one of the world’s wealthiest men to live. His company, Standard Oil, controlled about 88 percent of all U.S. refineries and pipelines. Critics often accused him of unethical practices in his business, causing the U.S. Supreme Court to find Standard Oil in violation of anti-trust laws and demandedRead MoreThe American Dream By James Truslow Adams1577 Words   |  7 PagesThe American Dream Lives On Since 1776, the â€Å"American Dream† has continued to evolve. Originally, our forefathers intended the American Dream to be a country where individuals were free from the tyranny of royalty and nobility, working as a part of a whole, making everyone comfortable and happy - all men created equal with equal opportunity. Over the years, this original intent has continued to change. In 1931, James Truslow Adams stated that the American Dream means that, â€Å"life should be betterRead MoreIndustrialization After Civil War1523 Words   |  7 Pagesyour responses with specific examples and details. A. The first aspect of industrialization that during 1865 and 1920 that influenced U.S. society, economy, and politics was the expansion of railroads. It created more job opportunities for Americans and the new immigrants coming into America. The federal government helped support this expansion of the railroad development, but also made it difficult for some railroad workers, such as the Chinese. They viewed them as a threat because of the massRead MoreRobber Barons By John Davison Rockefeller And Andrew Carnegie2403 Words   |  10 PagesRobber Barons such as John Davison Rockefeller and Andrew Carnegie were a large part of the propelling force that led the United States into a new frontier, setting the standard for the American dream. 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In case you were wondering, a robber baron is a ruthlessly powerful U.S. capitalist or industrialist of the late 19th century consideredRead MoreAnalysis Of Winter Dreams1507 Words   |  7 Pagesthe same themes as â€Å"The Great Gatsby,† the greatest novel in American history. â€Å"Winter Dreams† is about a young man named â€Å"Dexter† who has desir es, but thinks the only way he can have them is if he is rich. His ambition gets the best of him when he strives for everything he cannot have. When unmasked to reality, your dreams can expire instantaneously. F. Scott Fitzgerald is one of, if not, the single best writer in the history of American literature. Fitzgerald was born on September 24, 1896, in StRead MoreWho Can You Spare A Dime?1407 Words   |  6 Pages All of these headlines portray the tragedy that had left millions of Americans in shambles: Black Tuesday. Within two months after Black Tuesday, the crash of the stock market had thrown several million people out of work. 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I run, every now and then when things in life get tough Free Essays

It was a cool November night and there I was running through the smoky populous city of Chelmsford, rows upon rows of cars sped along the narrow concrete roads. Noise from the movement of cars and the odd occasional sound of a horn were to be heard. Among all this chaos and confusion there I was running, running as far away from my troubles as possible. We will write a custom essay sample on I run, every now and then when things in life get tough or any similar topic only for you Order Now My heart was pounding vigorously against my chest demanding more and more oxygen. Pain was accumulating in the lower part of my legs causing much agony. The only way that I could stop the pain was to stop running but I kept on running. I run, every now and then when things in life get tough. Every stride I take releases more stress and anger in my body. I was now panting, sweat gathered round my chest making my white cotton tee-shirt wet. I could now feel the force of the cool November air as I was making my way down hill. Maybe I shouldn’t have lost my temper with my mum. I could remember the scene at home just fifteen minutes ago which made me very angry. † You’ve got three English essays to do and you are sitting here watching television!† I recall my mum saying. She just came home from a twelve hour shift from the hospital; physically and emotionally she was very exhausted – it’s a stressful job being a doctor. Then she found me in the living room watching television – usually she doesn’t say anything about that, but when I have three pieces of coursework due, she gets angry. † You have got to take some responsibility of your own,† I recall her uttering. I can still remember her brown weary eyes looking at me and the expression on her face represented someone who was tired and disappointed. Disappointed to find her only child watching television at a time when he really should be catching up with work – to be honest I don’t blame her for getting angry. â€Å"Just trust me,† I remember my self pleading, † You know I will do it.† † When will u do it!†, I think my mum said, † I know when you’ll do it, you’ll do it at the very last minute, you’ll stay up till about two o clock in the morning doing it and this will affect the quality of your essays!.† It was getting colder – maybe I should have worn something more instead of my plain white tee-shirt and my rugby shorts. I turned the bend smoothly and now was going through the final two mile stretch. This is usually the hardest part of the race. It depends on the amount of will power I have. This is the stage where the pain intensifies to such an extent that I could hardly feel my shoulders and legs. The only thing that keeps me going is my raw determination, my anger, my will power. â€Å"Mum, God damn it leave me alone!† I remember shouting when she told me to do my work. â€Å"Just go and mind your own business.† I regretted the fact that I shouted. The expression on her face turned to one of utter surprise and disbelief. Her face reddened with anger, â€Å"Why do you think I work so hard?† I remember her saying. â€Å"It’s so that you get a chance in life to get educated and make something of your self!† She explained. â€Å"You don’t know how hard life is, it’s a harsh world out there, if you do not get educated you will probably end up doing a low- paid unskilled labour work, do u want that? This is when I got angry. I hate it when she says that she works just for me! This is when I got upstairs, changed into my training gear and went running! Sweat was dripping from my nose; my breathing was gradually getting heavier, as I ran on the cemented pavement. I was tired, my vision was getting more and more blurry, and all I could see was the headlights of cars as they drove opposite me. There are two different characters in me when I run, one says: â€Å"Come on you fool, what do you want to be a mediocre or the best?, Run, run, and never stop.† I have no trainer to give me encouragement during the hardest part of the race; therefore I have to provide encouragement myself. The other character says: â€Å"Why are your running fool! Why are you going through so much hardship when you could be sitting at home watching television?† There is a constant battle between my two characters when I run. Sometimes my negative character wins and I stop running but in most cases my positive character wins and I finish my race. Just three hundred yards left; this is the part in the race when I increase my speed to such an extent that I loose all my senses in my legs – they go completely numb. The only thing which could keep me going is my determination, my will to succeed and not be a failure. Another two hundred yards; â€Å"Keep running!† I shouted to myself, â€Å"No pain! No pain!† I kept instructing my self – in fact the only thing I could feel was pain. One hundred more yards left: â€Å"You’ve done it! Come on!† Finally I finished my run -I was outside my house and I was heavily breathing and sweating. Throughout the whole race all I suffered was pain and anguish- there was times when I thought I was going to stop. However I endeavoured to accomplish the goal I had set for myself. Now all I could feel was complete satisfaction. Maybe, if I set the same attitude towards school work and if I finish tasks in time I would be feeling the same level of satisfaction as I am feeling now. I looked up and saw my mother standing in front of me. â€Å"Released all your anger have you?† she asked with a smile on her face. â€Å"Yes, I’m calm now!† I replied. â€Å"Come on then, I’ll make you a cup of tea and then you can get started on your essays!† It’s bizarre how the whole atmosphere changes after a four mile run. How to cite I run, every now and then when things in life get tough, Essays

I run, every now and then when things in life get tough Free Essays

It was a cool November night and there I was running through the smoky populous city of Chelmsford, rows upon rows of cars sped along the narrow concrete roads. Noise from the movement of cars and the odd occasional sound of a horn were to be heard. Among all this chaos and confusion there I was running, running as far away from my troubles as possible. We will write a custom essay sample on I run, every now and then when things in life get tough or any similar topic only for you Order Now My heart was pounding vigorously against my chest demanding more and more oxygen. Pain was accumulating in the lower part of my legs causing much agony. The only way that I could stop the pain was to stop running but I kept on running. I run, every now and then when things in life get tough. Every stride I take releases more stress and anger in my body. I was now panting, sweat gathered round my chest making my white cotton tee-shirt wet. I could now feel the force of the cool November air as I was making my way down hill. Maybe I shouldn’t have lost my temper with my mum. I could remember the scene at home just fifteen minutes ago which made me very angry. † You’ve got three English essays to do and you are sitting here watching television!† I recall my mum saying. She just came home from a twelve hour shift from the hospital; physically and emotionally she was very exhausted – it’s a stressful job being a doctor. Then she found me in the living room watching television – usually she doesn’t say anything about that, but when I have three pieces of coursework due, she gets angry. † You have got to take some responsibility of your own,† I recall her uttering. I can still remember her brown weary eyes looking at me and the expression on her face represented someone who was tired and disappointed. Disappointed to find her only child watching television at a time when he really should be catching up with work – to be honest I don’t blame her for getting angry. â€Å"Just trust me,† I remember my self pleading, † You know I will do it.† † When will u do it!†, I think my mum said, † I know when you’ll do it, you’ll do it at the very last minute, you’ll stay up till about two o clock in the morning doing it and this will affect the quality of your essays!.† It was getting colder – maybe I should have worn something more instead of my plain white tee-shirt and my rugby shorts. I turned the bend smoothly and now was going through the final two mile stretch. This is usually the hardest part of the race. It depends on the amount of will power I have. This is the stage where the pain intensifies to such an extent that I could hardly feel my shoulders and legs. The only thing that keeps me going is my raw determination, my anger, my will power. â€Å"Mum, God damn it leave me alone!† I remember shouting when she told me to do my work. â€Å"Just go and mind your own business.† I regretted the fact that I shouted. The expression on her face turned to one of utter surprise and disbelief. Her face reddened with anger, â€Å"Why do you think I work so hard?† I remember her saying. â€Å"It’s so that you get a chance in life to get educated and make something of your self!† She explained. â€Å"You don’t know how hard life is, it’s a harsh world out there, if you do not get educated you will probably end up doing a low- paid unskilled labour work, do u want that? This is when I got angry. I hate it when she says that she works just for me! This is when I got upstairs, changed into my training gear and went running! Sweat was dripping from my nose; my breathing was gradually getting heavier, as I ran on the cemented pavement. I was tired, my vision was getting more and more blurry, and all I could see was the headlights of cars as they drove opposite me. There are two different characters in me when I run, one says: â€Å"Come on you fool, what do you want to be a mediocre or the best?, Run, run, and never stop.† I have no trainer to give me encouragement during the hardest part of the race; therefore I have to provide encouragement myself. The other character says: â€Å"Why are your running fool! Why are you going through so much hardship when you could be sitting at home watching television?† There is a constant battle between my two characters when I run. Sometimes my negative character wins and I stop running but in most cases my positive character wins and I finish my race. Just three hundred yards left; this is the part in the race when I increase my speed to such an extent that I loose all my senses in my legs – they go completely numb. The only thing which could keep me going is my determination, my will to succeed and not be a failure. Another two hundred yards; â€Å"Keep running!† I shouted to myself, â€Å"No pain! No pain!† I kept instructing my self – in fact the only thing I could feel was pain. One hundred more yards left: â€Å"You’ve done it! Come on!† Finally I finished my run -I was outside my house and I was heavily breathing and sweating. Throughout the whole race all I suffered was pain and anguish- there was times when I thought I was going to stop. However I endeavoured to accomplish the goal I had set for myself. Now all I could feel was complete satisfaction. Maybe, if I set the same attitude towards school work and if I finish tasks in time I would be feeling the same level of satisfaction as I am feeling now. I looked up and saw my mother standing in front of me. â€Å"Released all your anger have you?† she asked with a smile on her face. â€Å"Yes, I’m calm now!† I replied. â€Å"Come on then, I’ll make you a cup of tea and then you can get started on your essays!† It’s bizarre how the whole atmosphere changes after a four mile run. How to cite I run, every now and then when things in life get tough, Essays

Steinbeck exposes the racism that was prevalent at that time in America through the character of Crooks Essay Example For Students

Steinbeck exposes the racism that was prevalent at that time in America through the character of Crooks Essay Steinbeck exposes the racism that was prevalent at that time in America through the character of Crooks, a sentimental, proud and aloof black man and sadly known as the nigger. He has a very realistic way at looking at the dream maybe as he sees the dream as a way of escaping but knows that there is no way and so speaks of the realization which fills him with pessimism. Yet gets caught up in optimism, and begins to link the dream with heaven in a way saying happiness is not possible on earth. He is an outcast due to his colour and therefore has to wait outside the bunkhouse and call all the other white men formal names. Therefore he is very protective of others entering his room of solitude where he has now one but himself. Furthermore Crooks is somewhat a vulnerable character and Curleys wife is vicious towards him strung up on a tree so easy she too has suffered much negligence she reminisces back, ironically, to her dream of becoming a movie star could have been in the pictures but was forced into marrying curly, where then she no longer could portray her dream. Crooks in a way desires company and love and affection and admits he longs for a companion a guy needs somebody therefore allows lennie into his bunkhouse, also the fact that Crooks maybe feels lennie is more vulnerable than he is. Lennie is the only one who really accepts Crooks as an equal human being. Steinbeck shows how powerless and lacking in value Crooks is written in the novel, at one point Crooks provided entertainment for Christmas they let the nigger come in one night, they also made him fight the guys wouldnt let him use his legs on account of the niggers crooked back this is a quite sad event in the story and really exposes the way black people were treated at that time. Crooks is so often the victim that he cannot resist the opportunity to take power and inflict pain on someone else and so torments lennie by telling him George will not come back again. We are prepared for future events. Furthermore he says lennie will be treated like an animal in a cage and end up in a booby hatch. There are also many more reasons Steinbeck portrays Crooks is one that many readers begin to sympathise with, which may also include the fact that he lives in stable all alone and has nobody and has many personal possessions unlike the rest which gives the idea he is a permanent character. Also the fact he is surrounded by books giving the idea he is educated and skilled highlighting the factor of permanency. Another factor is he has a face lined with pain we know this is a character who has suffered much in his life, not only from his crooked spine but from exclusion pain tightened lips. Consequently, the past also plays a big part in this novel as Crooks ironically used to live the dream in his past on a chicken ranch my old man had a chicken ranch this is ironic because all the other workers are looking for this I could live so easy. He has seen many men never reach the dream and become very depressed in doing so crazy with loneliness for land but every time a whore- house or blackjack game comes giving the idea that men never reach the dream due to the fact it is not the men themselves, its money. Steinbeck shows how Crooks has suffered so much in justice he protects himself by Pride aloofnessà ¢Ã¢â€š ¬Ã‚ ¦ Crooks experiences mean that he is a private man who retains personal dignity. .ua67c4a78f253d74fdcaacb4616556e35 , .ua67c4a78f253d74fdcaacb4616556e35 .postImageUrl , .ua67c4a78f253d74fdcaacb4616556e35 .centered-text-area { min-height: 80px; position: relative; } .ua67c4a78f253d74fdcaacb4616556e35 , .ua67c4a78f253d74fdcaacb4616556e35:hover , .ua67c4a78f253d74fdcaacb4616556e35:visited , .ua67c4a78f253d74fdcaacb4616556e35:active { border:0!important; } .ua67c4a78f253d74fdcaacb4616556e35 .clearfix:after { content: ""; display: table; clear: both; } .ua67c4a78f253d74fdcaacb4616556e35 { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .ua67c4a78f253d74fdcaacb4616556e35:active , .ua67c4a78f253d74fdcaacb4616556e35:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .ua67c4a78f253d74fdcaacb4616556e35 .centered-text-area { width: 100%; position: relative ; } .ua67c4a78f253d74fdcaacb4616556e35 .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .ua67c4a78f253d74fdcaacb4616556e35 .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .ua67c4a78f253d74fdcaacb4616556e35 .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .ua67c4a78f253d74fdcaacb4616556e35:hover .ctaButton { background-color: #34495E!important; } .ua67c4a78f253d74fdcaacb4616556e35 .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .ua67c4a78f253d74fdcaacb4616556e35 .ua67c4a78f253d74fdcaacb4616556e35-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .ua67c4a78f253d74fdcaacb4616556e35:after { content: ""; display: block; clear: both; } READ: Antigone character comparison EssayHe is the victim of racism and is unwelcoming when lennie appears in his room. Crooks is not just pessimistic and gets caught up in optimism and says Id come and lend a hand, I aint so crippled and opens up to lennie and frequently laughs Crooks laughed again maybe due to the fact he remembers his past were he used to turn the chickens out in the alfalfa which echoes George and lennies dream. Finally I conclude that Crooks being the only black man on the ranch creates the most sympathy within the readers as the fact he is very realistic towards the idea of the dream maybe because he knows its not possible on earth, also mostly his crooked back and has to frequently throughout the book put liniment on, in a way disabled yet still viciously and racially abused. Also his past experiences in the bunkhouse and how horribly they treated him just because he had dark coloured skin. Another reason is that he yearns love and affection and so is attentive to anybody who tries to communicate with him. Also the way Steinbeck portrays the idea of permanency through the description of Crooks room giving the idea that Crooks disability means he cant go anywhere else.

Case Study Tata Steel

Question: Discuss about theCase Studyfor Tata Steel. Answer: Company's Approach Towards CSR Tata Steel has a very strong CSR (Corporate Social Responsibility) policy. CSR can be defined as an approach adopted by an organization that takes into consideration the economic, social and environmental aspects of business (Gelbmann, 2010). The CSR policy adopted by Tata Steel reflects the company's commitment towards business ethics. The company believes that providing good products and services is not sufficient to survive in today's business environment. Companies are constantly being judged by the stakeholders on the basis of what is being offered, how it being offered and what is the impact on the environment. The company makes every possible effort to adopt "greener" business options (Gelbmann, 2010). The company demonstrates its CSR by advocating ethical behavior. The company values its stakeholders and fulfills its ethical obligations towards them. The company's sustainability policy tries to integrate its business activities with economic development, conservation of the e nvironment and social reforms. This approach is beneficial for the environment, local communities, employees, and customers. Tata Steel believes in regulatory compliance and ethical compliance (Gelbmann, 2010). For example, the company abides by the anti-pollution laws. The company not only strives to achieve the lower limits but also tries to make significant contributions towards environmental protection. The company takes initiatives towards cost reduction through proper utilization of energy and waste management. Sustainable Practices Adopted by the Company to Underpin its Vision Steel has innumerable applications. But at the same time, it is recyclable. When recycled, the quality of steel does not deteriorate. Production of steel leads to carbon dioxide emissions that result in climatic changes (Katewa, 2015). The company's sustainable practices included the reduction of carbon dioxide emissions. The gases produced at the manufacturing plant are re-used to produce electricity. The produced electricity is equivalent to 10% of company's electricity needs. This brings down the consumption of natural gas for the production of electricity. As a result, carbon dioxide emissions have reduced by 300,000 tons (Katewa, 2015). The company is making investments in Research and Development activities for manufacturing steel with low carbon content. The company wants to offer products that generate lesser carbon dioxide in their life cycle. Analysis of Life Cycle Assessment Life Cycle Assessment (LCA) is used to study the impact of the product on the environment throughout its life cycle. According to LCA, steel is considered as the most environmental-friendly building material (Jha and Arora, 2013). Steel used in construction can be recycled whereas; concrete and timber are dumped at the end of their life cycle. This reduces carbon footprints. Thus, builders are using steel for low carbon impact. The UK government is trying to introduce sustainability in the packaging industry by bringing down the weight of packaging material used by companies (Jha and Arora, 2013). According to the LCA done by Tata Steel, it is not a right decision. These regulations can lead to companies using lighter packaging materials that are not recyclable. According to LCA, steel is a sustainable option for packaging because it can be recycled. Steel cans are a sustainable option. Tata Steel also encourages other brands in the steel industry to follow sustainable practices. Veh icles are a major source of carbon dioxide emissions (Gjlberg, 2010). The emissions are not only generated during the usage phase of automobiles but also during their production and disposition. According to LCA, steel is the most suitable material for reducing carbon emissions from automobiles especially cars. Sustainable Approach It is important for an organization to maintain a good brand image. The sustainable decisions which are to be taken for the company project such companies are socially-responsible and environmentally-committed organization. This boosts the reputation of Tata Steel. The product offered by the company also ensures sustainability. Tata Steel makes decisions on the basis of product life cycle. Thus, sustainable decisions are made by taking into consideration the manufacturing, usage, and disposition of products (Jha and Arora, 2013). Most companies base their decisions on one phase of product life cycle- manufacturing or usage. But Tata Steel considers the environmental and social implications throughout the product life cycle. Conclusion Tata Steel ensures that its business practices do not impact the society and environment in a negative manner. Steel is a sustainable option in the several industries like automobile, construction, and packaging because it can be recycled. CSR helps to difference Tata Steel from its competitors (Gjlberg, 2010). Ethical and sustainable decisions also increase employee satisfaction. Sustainable business approaches increase business efficiency and customer loyalty. Corporate sustainability creates value for the stakeholders and improves company reputation. Thus a company enjoys higher profits. References Gelbmann, U. (2010). Establishing strategic CSR in SMEs: an Austrian CSR quality seal to substantiate the strategic CSR performance.Sustainable Development, 18(2), pp.90-98. Gjlberg, M. (2010). Varieties of corporate social responsibility (CSR): CSR meets the Nordic Model.Regulation Governance, 4(2), pp.203-229. Jha, V. and Arora, S. (2013). Strategic leadership for corporate sustainable development at Tata Steel.International Journal of Indian Culture and Business Management, 7(3), p.283. Suh, S. and Heijungs, R. (2007). Power series expansion and structural analysis for life cycle assessment.The International Journal of Life Cycle Assessment, 12(6), pp.381-390.

Diabetes And Physical Activity Essays - Diabetes, Insulin

Diabetes And Physical Activity Health implications of diabetes type I Physical Activity What is physical activity? Why do we need physical activity in our lives? Physical Activity and Diabetes (Epidemiology) For our seminar topic "physical activity and disease" we chose diabetes as the focus of our research. Since diabetes is such a complex disease with many different forms, we decided to focus on diabetes type I. This is known as insulin-dependent diabetes mellitus (IDDM). This type of diabetes includes people who are dependant on injections of insulin on a daily basis in order to satisfy the bodies insulin needs, they cannot survive without these injections. OVERVIEW OF DIABETES TYPE I What is diabetes type I? In order to understand the disease we firstly need to know about insulin. Insulin is a hormone. The role of insulin is to convert the food we eat into various useful substances, discarding everything that is wasteful. It is the job of insulin to see that the useful substances are put to best use for our well-being. The useful substances are used for building cells, are made ready for immediate expenditure as energy and also stored for later energy expenditure. The cause of diabetes is an absolute or lack of the hormone insulin. As a result of this lack of insulin the processes that involve converting the foods we eat into various useful substances does not occur. Insulin comes from the beta cells which are located in the pancreas. In the case of diabetes type I almost all of the beta cells have been destroyed. Therefore daily injections of insulin become essential to life. Health implications of diabetes type I One of the products that is of vital importance in our bodies is glucose, a simple carbohydrate sugar which is needed by virtually every part of our body as fuel to function. Insulin controls the amount of glucose distributed to vital organs and also the muscles. In diabetics due to the lack of insulin and therefore the control of glucose given to different body parts they face death if they don't inject themselves with insulin daily. Since strict monitoring of diabetes is needed for the control of the disease, little room is left for carelessness. As a result diabetic patients are susceptible to many other diseases and serious conditions if a proper course of treatment is not followed. Other diseases a diabetic is open to: Cardiovascular disease, stroke, Peripheral artery disease, gangrene, kidney disease, blindness, hypertension, nerve damage, impotence etc. Basically there is an increased incident of infection in diabetic sufferers. Therefore special care needs to be taken to decrease the chances of getting these other serious diseases. PHYSICAL ACTIVITY What is physical activity? (Bouchard 1988) States that physical activity is any bodily movement produced by skeletal muscles resulting in energy expenditure. Therefore this includes sports and leisure activities of all forms. Why do we need physical activity in our lives? Physical activity and exercise helps tune the "human machine", our bodies. Imagine a car constantly driven only to stop for fuel. It would be a client for all sorts of damage, rusting, oil leaking, dehydration and the chances are most likely it would die in the middle of the road not long after. This is what the body would be like if we didn't exercise at all. We would be and as a result of todays lifestyle many of us are, the perfect target to all kinds of diseases and infections. For those of us who are carrier of some disease or illness we are still encouraged to exercise by our physicians if we have the strength to. This is to help make our organs, muscles, bones and arteries more efficient and better equipped to fight against the disease or illness. This is our way of counter attacking. And if we are still healthy then we reduce the chances of getting an illness or a disease. PHYSICAL ACTIVITY AND DIABETES (EPIDEMIOLOGY) Recently insulin injections have become available to dependant patients. However in the pre-insulin era physical exercise was one of the few therapies available to physicians in combating diabetes. For an IDDM carrier to benefit from exercise they need to be well aware of their body and the consequences of exercising. If an IDDM carrier has no real control over their situation and just exercise without considering their diet, time of insulin intake, type of exercise, duration of the exercise and the intensity, then the results can be very hazardous to the patient. In the first journal article that I used for this part of

How To Build The Highest-Trafficked Website With Mike Danner

How To Build The Highest-Trafficked Website With Mike Danner How can you grow your website to become the world’s largest in your niche? Traffic without conversions does not let you influence profitable customer action, which marketing is designed to do. How can you get more results from your Website traffic? Marketing automation with Google provides prospective customers with what they want and when they need it to help influence their purchase decisions. Today, we’re talking to Mike Danner, vice president of digital marketing at Ancient Nutrition. He helped the company’s Website, Dr. Axe, become the largest natural health Website in the world and generate about 19 million unique visits each month. Ancient Nutrition and Dr. Axe help educate and provide supplements for those who want a natural approach Ancient Nutrition is progressive and doing things right to grow its Website Every generation requires its own revolution; current generation is focused on sustainable farming and getting rid of big manufacturing lines Ancient Nutrition evolved out of passion and vision to become #1 natural health Website in the world and buy Whole Foods some day Organic and surge approach through success leaving clues; seek the best and biggest to mimic Use automation to help increase conversions; automation through ClickFunnels improved growth for Ancient Nutrition Focus on the return received from training, not the cost of the training Organize, optimize, customize when building automation Funnels that trigger journeys include micro-intense steps (cart abandonment) Review and analyze data to make decisions; phases of data absorption, monitoring, and testing experimentation and exploitation Shiny objects are fun, but deploy something to earn money Marketing Automation and Integrative/Holistic Approach to Testing Program: How often are you going to test? What are you going to do with the data? If brand new to marketing automation, anchor toward your goals; make as much as you can evergreen, and automation’s only as good as the multiplier Links: Ancient Nutrition Dr. Axe Jim Rohn Neil Patel ClickFunnels Brad Martineau Google Analytics Tim Ferriss Convert.com Austin Brawner Russell Brunson Write and send a review to receive a care package If you liked today’s show, please subscribe on iTunes to The Actionable Marketing Podcast! The podcast is also available on SoundCloud, Stitcher, and Google Play. Quotes by Mike Danner: â€Å"The marketing, the mechanics, the people- that was really laid on top of that foundation, which is just an incredible scaffolding for us to be able to build this marketing enterprise on top of.† â€Å"We were just writing the best content that we possibly could.† â€Å"We probably said the phrase- organize, optimize, customize––their mantra for building automation, which is to first get all your thoughts in paper then you get it out. Then, you optimize it.†

Johnson and Johnson Essay Example | Topics and Well Written Essays - 2500 words

Johnson and Johnson - Essay Example However, the operation of Johnson and Johnson is guided by its famous credo which is translated in 36 languages around the globe.1 This credo has become the company's guiding light in fulfilling its role to its various stakeholders which include its customers, its employees, its community, and its stockholders. In its quest to satisfy its customers, Johnson and Johnson promises the delivery of high quality products and services and efficient operations to maintain reasonable prices. The company also promises to enable its suppliers and distributors make a good profit from their partnerships. Johnson and Johnson recognizes the huge role carried out by its employees to ensure its success. With this, its credo promises the elimination of discrimination, hazardous working condition and abuse. Instead, the company provides respect, job security, equitable compensation, and opportunities for growth. Johnson and Johnson also encourages its employee to voice their various concerns. The compa ny is also mindful of the externalities it bring to the society where it operates. With this, Johnson and Johnson strive to become a good corporate citizen by supporting charities, paying taxes, and pushing for sustainable development. Lastly, Johnson and Johnson gives credit to its stockholders by ensuring the profitability of its operations (Johnson and Johnson 3). The credo of Johnson and Johnson provides a glimpse of the company's goals and objectives namely profitability, innovation, social responsibility, growth, and leadership. As with any other business organization, Johnson and Johnson's primary goal is the maximization of profit. With this, the company can have the financial muscle to back its operations. At the heart of its goals is the innovation of products which can be released to the public in order to convey greater customer satisfaction. Johnson and Johnson's goal of maintaining sustainable development is fueled by its being a socially responsible business organization. The company also continues to push for growth and market leadership. In order to achieve these goals, Johnson and Johnson has crafted strategies. On the corporate level, the company is seen to utilize its credo to achieve its numerous goals. However, the interdependence within its departments and the diversity of its product line leads to multiple strategies within its divisions. Taken altogether, the company's primary strategy in fulfilling its goal is the creation of high quality medicine, medical equipment, and consumer goods at reasonable prices. In order to market its product efficiently, Johnson and Johnson creates an excellent brand image by actively taking part in socially responsible programs and activities. It can also be seen that one of its main strategies is the acquisition of small companies which have embarked on promising new products. The company's broad product lines and growth has been the result of numerous acquisitions. However, it can also be seen that the business organization is slowly coming to grips with the reality that thi s strategy is unsustainable in the long run and that it needs to develop new products. Johnson and Johnson is comprised of three main divisions-Pharmaceuticals, Devices and Diagnostics, and Consumer Goods (Johnson and Joh

Knaan - Waving Flag Essay Example | Topics and Well Written Essays - 500 words

Knaan - Waving Flag - Essay Example People have to unite and love each other regardless of race, ethnic background and culture. The artist gives an example using sporting activities because people from different background come and celebrate together. Repetition has been portrayed in various stances right from the start. For instance, â€Å"And then it goes back† has been repeated many times the chorus section of the song. The artist uses a symbol â€Å"Just like a waving flag† as he associates freedom to the waving flag (Metro Lyrics 1). During normal circumstance, the flag has to change directions. It can be deduced that the artist used the flag to symbolize that people can change their fortune within a short period. This means that the situation of both the poor and the rich can easily change. The waving nature of the flag also represents freedom of movement, expression, personality, and uniqueness. Exaggeration has been used in the verse, â€Å"Born to a throne, stronger than Rome† (Metro Lyric s 1). This is because the present generations come from wealthy families, who are also privileged. Imagery has been used in the lines which states that, â€Å"poor people zone, but its my home† (Metro Lyrics 1). The stanza makes the audience imagine of poor people, their homes and clothing. Poor people are always associated with poor living conditions, suffering, and hunger as brought out in the stanza. Theme of fantasy has also been portrayed in the same verse when Knaan refers to his home as a concrete object. An individual would have an emotional feeling after listening to the song (Metro Lyrics 1). It starts with portraying the poor living conditions experienced by Knaan while still in a war-torn nation of Somali and ends with an inspiration of living together regardless of race and ethnic background. Most people would love the song because it is educative. For instance, people would realize that freedom could only be achieved in

Research On Initial Public Offering And Underpricing Finance Essay

Research On Initial Public Offering And Underpricing Finance Essay Initial Public Offering (IPO) of firm is widely underpriced. IPO underpricing is presented as the percentage difference between the offer price and the closing price of the first-trading-day, usually in appearance of initial positive return when shares are newly issued. IPO underpricing is seen as selling shares at discount in the initial offering. The discount requires issuer to leave money on the table to compensate investors, which incur wealth loss for the issuer (Camp, Comer and How, 2006). Therefore, there are numerous theories established to explain the reason for this discount sale in IPO, which generally categorized into four branches: asymmetric information, institutional reasons, control considerations, and behavioral approaches (Ljungqvist, 2007). Among these theories, asymmetric information theory is the most studied direction in the past 40 years. Nevertheless, studies on the institutional and behavioral aspects are heating recently, especially when shedding lights on e merging IPO markets where lack of efficient institutional support and exist over-speculation behavior environment. Evidence of underpricing IPO underpricing phenomenon is firstly academic documented in 1970s (Stoll and Curley, 1970; Reilly, 1973; Logue, 1973; Ibbotson, 1975). Early findings (exclusively focused on US market) indicate that underpricing is influenced by particular periods (Ibboston and Jaffe, 1975) and particular industry, usually natural resource (oil and gas) industry (Ritter, 1984). However, these findings are challenged by Smith (1986) who claimed that underpricing occurs in the entire period of 1960s-1980s, rather than concentrates in particular periods, and underpricing level exists across all industries with average exceeds 15%. Recent study is more convincible with larger time period and sample observations. Loughran and Ritter (2004) document this underpricing discount has averaged around 19% in the US since the 1960s. Nevertheless, underpricing level (i.e. the average first-day return) tends to fluctuate, 21% in the 1960s, 12% in the 1970s, 16% in the 1980s, 15% in 1990-1998 and then exploded to more than 65% in the 1999-2000 internet bubble period, and falling back to 12% in 2001-2008 (reference). Table Empirical studies have extended the scope of research from the US to the whole world. Underpricing is internationally documented, and the level is extremely high in emerging markets. According to (reference)s research, China (1990-1996, 226, 388%); US (1960-1996, 13308, 15.8%); Japan (1970-1996, 975, 24%). Table. (Reference) provides wider research. France: 3-14%; Australia: 11-30%; Taiwan: 30-47%; Greece: 48-64%; Brazil: 74-78.5%; China: 127-950%. Table Due to its short history with strong government control characteristics, Chinese IPO market draws research interest. The average initial return of IPOs in China during 1999-2002 was 3.3 times the average emerging markets initial return (excluding China) and 6.9 times that of developed countries (Reference). Sample size Sample period Initial return (%) Mok and Hui (1998) 87 1990-1993 289.20% Datar and Mao (1998) 226 1990-1996 388.00% Su and Fleisher (1999) 308 1990-1995 948.59% Chen et al. (2000) 277 1992-1995 350.47% Liu and Li (2000) 781 1991-1999 139.40% Chi and Padgett (2002) 668 1996-2000 129.16% Su (2003) 587 1994- 1999 119.38% Chan et al. (2003) 570 1993-1998 175.40% Chan et al. (2003) 286 1999-2000 104.70% Wang (2005) 747 1994-1999 271.90% Kimbro (2005) 691 1995-2002 132.00% Li (2006) 314 1999-2001 134.62% Asymmetric information theory The cornerstone of this theory is that there is asymmetric information among parties (issuer, underwriter, and investor) in the IPO. Chambers and Dimson (2009) proved that the level of trust between investors, issuers, and underwriters plays a crucial role on the level of IPO underpricing over time in the UK. Asymmetric information leads to ex ante uncertainty among parties. Higher ex ante uncertainty results in higher underpricing. Ritter (1984) raised the changing risk composition hypothesis, which assumes that riskier IPOs will be underpriced by more than less-risky IPOs. Beatty and Ritter (1986) then extend Rock (1986)s asymmetric information model (winners curse) by introducing the ex ante uncertainty about an IPOs market clearing price. The ex ante uncertainty among investors over the value of firm determines the underpricing level of the IPO (Loughran and Ritter, 2004). The level of underpricing increases with the degree of ex ante uncertainty about the value of the firm (Beat ty and Ritter, 1986; Ljungqvist, 2007). Firms with more uncertainty about growth opportunities have higher levels of underpricing than other firms on average (Ritter, 1984; Beatty and Zajac, 1994; Welbourne and Cyr, 1999). Under the scope of asymmetric information theory, there are three models: winners curse, principal-agent and signaling. Winners curse assumes informed investors have better information. Principal-agent model argues underwriters gain better information. Signaling model emphasizes on the better information retained by issuers. Winners curse model is based on asymmetric information between informed and uninformed investors (Rock, 1986). This model assumes informed investors have better information about the new firms prospects than the issuer and its underwriters. Uninformed investors would only get unattractive IPO firms shares because informed investors have already picked up attractive firms share with better information. That is to say, uniformed investors would only expect negative return. Consequently, uniformed investors are willing to participate only if new-issue offer prices are low enough to compensate them for expected losses on less attractive issues (Rock, 1986; Ritter and Welch, 2002). Under this assumption, issuers or underwriters have to underprice their IPO shares, i.e. selling with discount, to attract these uninformed investors. Underpricing is seen as compensation to uninformed investors (Beatty and Ritter, 1986). Underwriters have the intention to underprice the IPO shares in order to keep the uninformed investors stay in the market to make offering successful. Underwriter could use underpricing to obtain full subscription in order to make the shares offering successfully. Moreover, Loughran and Ritter (2002) argue that winners curse is not the dominate explanation in IPO underpricing now. Winners curse problem and dynamic information acquisition were main explanations in 1980s in US IPO market. In 1990s US, analyst coverage and side payments to CEOs and venture capitalists (spinning hypothesis) are main reasons (ibid). Welch (1992) claims that underpricing is caused by the cascades effect in the IPO market. This Cascades effect is presented as the asymmetric information between informed and uninformed investors. Underpricing generates information momentum, which results in a higher market clearing price at the end of the lockup period (the time between share-offer day and listed day) when insiders (first buyers) typically start to sell some of their shares. These first buyers behavior would influence the following buyers perception on value of shares. Since there is selling pressure when IPO ends and the analyst coverage starts, the market price could still maintain at a high level in the first-trading-day, thus incur significant underpricing level (Bradley et al. 2003; Ofek and Richardson, 2003; Bradley, Jordan, Roten, and Yi, 2001; Brav and Gompers, 2003; Field and Hanka, 2001). Principal-agent model focuses on asymmetric information between underwriters and issuers (Baron and Holmstrom, 1980; Baron, 1982). Baron (1982) assumes that underwriter is better informed about demand conditions than the issuer, leading to a principal-agent problem. In this model, the function and role of underwriters are mainly studied. Underwriters want to underprice IPOs (Baron and Holmstrom, 1980; Baron, 1982; Loughran and Ritter, 2002/2004; Ljungqvist and Wilhelm, 2003). First of all, underwriter has to underprice in order to sell all shares, i.e. underwriters use underpricing to obtain full subscription in order to make IPO successfully. There are uninformed investors who have the money to invest in the market. Underwriters convince issuers into underpricing to prevent these uninformed investors from leaving the IPO market. Underpricing is to induce underwriters to put forth the correct level of effort (Baron, 1982). Underwriter has to balance this trade-off in the principal-ag ent problem. On one side, underpricing would incur wealth loss for the issuer and reduce commission revenue for underwriters, on the other side, Beatty and Ritter (1986) argue that as repeat players, underwriters have an incentive to ensure that new issues are underpriced by enough lest they lose underwriting commissions (especially for those uninformed investors) in the future. Empirical studies (Nanda and Yun, 1997; Dundar, 2000) claim that underwriters subsequently lose IPO market share if they either underprice or overprice too much. However, the principal-agent model is challenged by Muscarella and Vetsuypens (1989), who argue that underpricing phenomenon still exists in underwriter (investment bank) IPO itself in which there is no principal-agent problem. Second, underpricing could incur over-subsucription in an IPO, which gives underwriter the discretion to allocate IPO shares. Underwriters can decide to whom to allocate shares if there is excess demand. In this case, underwriters discretion acts like interest exchange with their clients. They want to retain the buy-side clients, thus to allocate underpriced IPOs to them. Recurrent institutional investors would get the IPO shares and enjoy a positive initial return (Loughran and Ritter, 2002). Underwriters have an incentive to underprice IPOs if they receive commission business in return for leaving money on the table. Underpricing could facilitate the loyalty between underwriter and its clients, which could in turn facilitate underwriters sale of subsequent IPOs and seasoned offerings. For example, in the late 1990s IPOs were allocated to investors largely on the basis of the past and future commission business on the other trades (Reuter, 2004). Third, spinning effect induces underwriter to underpricing. The spinning explanation describe issuers are willing to hire underwriters with a history of underpricing because issuers receive side-payments. Spinning may be used by the underwriter to acquire IPO deals and influence IPO pricing, but it can also be used as part of a long-term business strategy with a given issuer to attract future underwriter mandates. The side-payments of spinning makes issuers reluctant to change its original underwriter for subsequent offerings (Dundar, 2000; Krigman, Shaw and Womack, 2001; Burch, Nanda and Warther, 2005; Ljungqvist, Marston and Wilhelm, 2006/2009). Spinning effect was first documented by Siconolfi (1997) in a Wall Street Journal article. Specifically, underwriters set up personal brokerage accounts for venture capitalists and the executives of issuing firms in order to allocate hot IPOs to them (Siconolfi, 1997). The hot IPOs means shares those are underpriced and would gain a huge po sitive initial return aftermarket, which would increase the personal wealth of the managers of issuing firms (Loughran and Ritter, 2002). The use of hot IPOs to reward issuers created an incentive for issuers to seek out underwriters who willing to offer this hot IPO through underpricing, rather than to avoid such underwriters. Allocating hot IPOs to the issuers and their friends (through friends and family accounts) allowed underwriters to underprice even more, i.e. selling at a friendly price (larger discount) (Fulghieri and Spiegel, 1993; Loughran and Ritter, 2002; Ljungqvist and Wilhelm, 2003). Underwriters may be more inclined to give favorable allocations of shares to preferred investors (friends, family, executives, etc.) and unfavorable allocations to non-favored non-connected investors. The latter would require higher underpricing to participate in the IPO market. The outcome of this process is not due to ex ante uncertainty, but due to discretionary allocation of shares by underwriters. Furthermore, this discretion is not mitigated by strong institutional framework. During the late 1990s and early 2000, spinning was a widespread practice in the US, despite having one of the strongest investor protection rules at the same time (Liu and Ritter, 2009). Signaling model, first referred by Leland and Pyle in 1977, assumes the issuer itself best knows its prospects (possesses better information). Underpricing is a signal that the firm is good (Allen and Faulhaber, 1989; Grinblatt and Hwang, 1989; Welch, 1989). If the issuer possesses the best information about its true value, a high quality firm could use underpricing as a means to distinguish itself from low quality companies. These firms with the most favorable prospects find it optimal to signal their type by underpricing their initial issue of shares, and investors know that only the best firms can recoup the cost of this signal from subsequent issues. In short, a partial offering of shares is made initially, information is then revealed, and subsequently more shares will be sold. In contrast, low quality companies might tend to price fully (Bergstrom, Nilsson and Wahlberg, 2006). Hiring reputable underwriter with influential analysts would mitigate ex ante uncertainty, thus reduce the underpricing level. Empirical study shows the more market power of underwriter (with strong analyst team, influential and bullish, usually), the more underpricing extent (Hoberg, 2007). Hiring a prestigious underwriter (Booth and Smith, 1986; Carter and Manaster, 1990; Michaely and Shaw, 1994) or a reputable auditor (Titman and Trueman, 1986) is seen as a specific way to reduce the ex ante uncertainty. Carter and Manaster (1990) and Carter et al. (1998) argue that IPOs taken by prestigious underwriters benefit from superior certification. The choice of underwriter indicates the quality of this IPO implicitly, because the reputation of underwriter may provides certain guarantee on the value of the issuer, which in turn, mitigates the ex ante uncertainty, thus the underpricing level would be reduced. Nevertheless, empirical evidences show a mixed result. There is a negative relati on between underwriter prestige and underpricing level in the 1980s, but a positive relation in the 1990s (Beatty and Welch, 1996; Cooney, Singh, Carter, and Dark, 2001). Issuers want to hire reputable underwriters who have, not only because of this could reduce ex ante uncertainty, but also the influential and bullish analyst coverage provided by reputable underwriters (Dunbar, 2000; Clarke, Dunbar and Kahle, 2001; Krigman, Shaw and Womack, 2001). Analyst coverage is crucial on the discovery of true value of the firm, especially its impact on sequent shares offering. Ljungqvist, Jenkinson and Wilhelm (2003) prove that influential analyst could bring the businesses for underwriters (investment banks). Prestigious investment banks also tend to recruit analysts who making optimistic forecasts (Hong and Kubik, 2003). Although analyst coverage is expensive for underwriters (the largest US investment banks each spent close to $1 billion per year on equity research in 2000, for example) (Rynecki, 2002), these costs are covered partly by underwriting fee charging from issuers. Due to the information production cost, many firms would prefer later IPO. Firms d o IPO firstly could incur analyst coverage advantage (more information revelation) for other firms wanting for IPO in the same industry (i.e. free ride effect). In this case, underwriter compensate this information cost for the before Firms with underpricing to investors (Benveniste, Busaba, and Wilhelm, 2002; Benveniste et al., 2003). Moreover, issuers feel reluctant to change its underwriter for seasoned equity offering (SEO) if the underwriter did analyst coverage and the underprice effect is significant in the IPO. Cliff and Denis (2004) proved this with the example 1050 US IPO firms during 1993-2000. When initial offering shares, the issuer increases emphasis on the advertisement effect brought by analyst coverage from underwriter, rather than the level of underpricing itself. Empirical studies (Cliff and Denis, 2004; Dunbar, 2000; Clarke et al. 2007) illustrates that many US issuers accepted underpricing in 1990s since they focused more on choosing an underwriter with an influential analyst than on getting a high offer price. The underlying principal is that underpricing could attract investors attention to this firm. Issuers have the incentive to reduce underpricing, and model their optimal behavior. Firms could gain advertisement benefits from underpricing, which creates beneficial condition for sequent offering (Habib and Ljungqvist, 2001). A high quality firm is underpriced (sell shares at discount) at the initial offering in order to attract market attention through following analyst coverage, usually, massive and efficient analyst coverage would mitigate the asymmetric inf ormation among investors and present the high quality of the firm, finally, the more realization on the true value of the firm among investors could help the firm sell its sequent seasoned offering shares at a higher price (i.e. recoup the loss from the underpricing in the initial offering). This process is called partial adjustment phenomenon (Hanley, 1993). About one-third of all IPO issuers between 1977 and 1982 had reissued equity by 1986, the typical amount being at least three times the initial offering (Welch, 1989). Analyst coverage relates to the future predicted value of the issuer, thus it is important. Moreover, the development of internet and cable television extend the influence of analyst coverage on the share price. In this way, the share price aftermarket would increase, which further provides the opportunity for issuer to offer higher price for its seasoned offering. Behavior Finance Speculative bubble theory After the internet bubble collapse in the US in early 2000, the academic focus transferred to behavior finance. The asymmetric information theory is based on the efficient market hypothesis. The ex ante uncertainty leads to the difficulty on firm valuation for investors, therefore, issuer and underwriter would set higher underpricing level to attract investors. Underpricing is seen as deliberate selling strategy for an IPO, once listed in the secondary market, share price would return to its fair value. Asymmetric information theory predicts lower underpricing if information is distributed more homogeneously across investors (Michaely and Shaw, 1994). However, it is challenged by heterogeneous expectation hypothesis in the stock market (Miller, 1977), which argues this deliberated underpricing strategy of IPO (selling at discount) disrupts the market efficiency (Loughran et al., 1994). According to Miller (1977), there are two assumptions in the market: the heterogeneity expectation and restriction on short-selling. The optimistic investors buy and hold shares, whereas pessimistic investors can not participate in the trade since the short selling is restricted. Consequently, share price reflects the opinion from optimistic investors, and thus the share price is overvalued compared to its fair value. Aggarwal and Rivoli (1990) raised the speculative bubble theory to argue that IPO underpricing is caused by faddish behavior on behalf of investors. This theory reveals there is speculative environment in secondary market, which increases the market price of the first-trading-day, thus incurs severe underpricing phenomenon. The speculative bubble theory to Ibbotsons opinion that underpricing is cyclical, which could date back to 1970s. Ibbotson and Jaffe (1975) found the level of underpricing fluctuates between different time periods. One explanation for the fluctuation may be the fact that there are hot and cold IPO markets (Ibbotson et al., 2001). In a hot IPO market, the average level of underpricing is large and the amount of firms going public increases. Afterwards there is a high rate of firms going public, but the level of underpricing decreases. The following cold period starts with fewer firms going public and very low underpricing or even overpricing. There is strong empiri cal evidence for this recurrent pattern, but the existence of this pattern has not yet seen sufficiently explained theoretically (Ibbotson and Ritter, 1995). Aggarwal (2000) provides empirical evidence to prove there is positive relationship between underpricing level and market index. Faddish investor hypothesis claims that in the hot market, over-optimistic (irrational) investors overpriced the IPO. This means the high initial return of IPO is not caused by deliberate underpricing pre-IPO solely, but is overpriced by optimistic investors in the secondary market. On one side, large amount of irrational investor is the root of high initial return in IPO, because irrational investors determine the transaction price in the secondary market (Ljungqvist, Nanda and Singh, 2003). Ljungqvist and Nanda (2002) claim that personal investor is seen as irrational investor, whereas the issuer, underwriter and institutional investors are seen as rational investor. Ljungqvist and Wilhem (2003) proved that personal investors have over-optimistic expectation on stock return in the hot market and these personal investors are typical noisy traders in IPO market, who prefer to make investment decision in terms of past initial return of previous IPOs. Delong, et al. (1990) reveal the influence of noisy trader on the share price. These noisy traders in IPO market are typical positive market feedback traders. When recent initial returns are high in the IPO market, these investors would purchase new issues, thus these purchases increase the demand for following IPOs, thus raise the initial return for these following IPOs. On the other side, it is believed that inequality of demand and supply of IPO primary market causes or intensifies the speculative environment in the secondary market (Aggarwal, 2000). Inequality between demand and supply leads to speculative opportunity. The underlying reason for this inequality is that IPO mechanism is not market-oriented in some countries, which is controlled by government (China, for example) (Su, 2004). IPO supply in the primary market is not adequate because of the government control. When new issues are over-subscribed, the irrational investors (speculators), who are constrained in the primary market, would be released in the secondary market. Meanwhile, due to the restriction on short selling (in China, for instance), investors could only make money when price increases. Therefore, investors push up the price on the first-trading-day, which causes severe underprcing level. Legal framework theory Legal framework theory could explain the different underpricing level among different countries. Legal framework has significant impact on ex ante uncertainty in IPO market. Ex ante uncertainty caused by regulatory constrains, wealth redistribution, and market incompleteness, leads to the IPO underpricing phenomenon (Mauer and Senbet, 1992). Difference in legal frameworks of various countries explain the ex ante uncertainty degree and the decisions made by investors in the market (La Porta et al., 1997/1998/2002). Cross-country differences in the legal framework affect ownership structure (La Porta et al., 2002), ownership effectiveness (Heugens et al., 2009), capital structure (De Jong et al., 2008), asset structure (Claessens and Laeven, 2003), dividend policy (La Porta et al., 2000), corporate governance (La Porta et al., 2000; Mitton, 2002) and corporate valuation (La Porta et al., 2002). Legal frameworks deem to reduce uncertainty by creating a stable foundation in which subsequ ent human interactions can be grounded (North, 1994; Peng, 2009; Van Essen et al., 2009). First of all, legal framework affects issue firms value. Legal framework can influence the ex ante uncertainty about firm value in more or less the same way as ex ante firm-specific risk at the time of IPO. Firms operating in a legal environment with poor protection of intellectual property rights are unwilling to invest in intangible assets (Research and Development capability, or branding effect, for example), leading to lower firm growth and thus lower firm value. Second, legal framework affects investors decision. Stronger investor protection could reduce the investment risk (for example, lower asset volatility, lower systematic risk, lower stock volatility, higher risk-adjusted return as measured by the Sharpe and Treynor index) (Chung et al., 2007; Hail and Leuz, 2006; Chiou et al., 2010). In countries with weaker legal protection, investors will be more uncertain about realizing a return on their investment (Shleifer and Vishny, 1997). Lower levels of legal protection for investors will create more uncertainty with respect to post IPO strategies and managerial decisions that may negatively affect firm value (Claessens and Laeven, 2003). In a country with a weaker legal framework, managers or dominating shareholders have more opportunities to transfer profits or assets out of the firm at the expense of the minority shareholders. Weaker legal framework could provide opportunity for damaging firm value through transfer pricing, asset strippin g and investor dilution (Cheung et al., 2009; Berkman et al., 2009). This increased probability of ex post expropriation by management or dominating shareholders increases the ex ante uncertainty at the time of IPO (Johnson et al., 2000). The higher the expropriation risk, the more the offer needs to be underpriced to compensate for this ex ante uncertainty. There is conflicts between dominating shareholders and outside shareholders because outside shareholders require higher risk premiums (higher cost of capital) which caused by the weak legal framework (Himmelberg et al., 2004; Giannetti and Simonov, 2006; Albuquerue and Wang, 2008). Although it is argued that issuers can independently improve their level of minority investor protection by a listing on a foreign stock exchange with higher standards of investor protection (i.e. cross-listing), it is doubtful that they can fully compensate for the lack of an adequate legal framework at the country-level (Black, 2001; Reese and Weisb ach, 2002; Roosenboom and van Dijk, 2009). Third, Underpricing could avoid potential legal liability, which is another explanation theory provided by Tinic (1988). It is claimed that underpricing reduces both the probability of lawsuits if subsequently the firm does not do well in the aftermarket, because the investor is the direct recipient of the benefit from underpricing (Milgrom and Roberts, 1986; Tinic, 1988). Underwriters are unwilling to price these offerings at high level, in case that the market would concern about lawsuits and thus damage to its reputation if the shares eventually dropped in price aftermarket. The argument is based on that unsophisticated and uninformed investors were bidding up the price to unjustified levels, and the underwriters were unwilling to price the IPOs at the market price determined by these noise traders. Ownership control theory Ownership control theory is described as IPO is expected to bring in new shareholders, who would dilute the control power of original shareholders (managers), therefore, issuers have less motivation to bargain for higher offer price, and result in underpricing. Ljungqvist and Wilhelm (2003) explain this ownership fragmentation would incur underpricing through the realignment of incentives hypothesis. Logically, the issuer firms holding large proportion shares would have incentive to argue for higher offer price thus reduce the underpricing level (Barry, 1989; Habib and Ljungqvist, 2001; Bradley and Jordan, 2002; Ljungqvist and Wilhelm, 2003). Moreover, the excess demand for shares caused by underpricing enables managers to allocate small stakes of shares to many dispersed small investors. Therefore, original managers control power is strengthened since they would be the dominate shareholders. In other words, underpricing could give the managers power on control (Brennan and Franks, 1 997; Boulton et al., 2007). However, the ownership control theory is challenged. Other substitute mechanisms for retaining control such as takeover defenses, non-voting stocks and alike are more effective, because underpricing can not prevent outside investors from accumulating larger stakes of shares once trading begins in the aftermarket (Ljungqvist, 2007). Issue mechanism Fixed price Offer price = Predetermined price Bookbuilding Underwriter set the final offer price by consulting with investors Auction Offer price = lowest price which bid the final share Hybrid Bookbuilding + Fixed price; Auction + Fixed price Bookbuilding, by which underwriter has the discretion on share allocation, can induce investor to reveal their information through their indications of interest, which can reduce information asymmetry thus lower underpricing (Benveniste and Spindt, 1989; Benveniste and Wilhelm, 1990/1997; Sherman and Titman, 2002; Ritter and Welch, 2002; Gondat-Larralde and James, 2008). On one side, underwriters tend to allocate IPOs to investors who provide information about their demand (i.e. the price discovery process). Price discovery eliminates the winners curse problem, thus reduce underpricing level. On the other side, bookbuilding authorized underwriter the discretion on share allocation (so called rationing allocation). After collecting investors indications of interest, the underwriter allocates no (or only a few) shares to any investor who bid conservatively. This rationing share allocation could reduce the underpricing level. Koh and Walter (1989) found the likelihood of receiving an al location in this mechanism was negatively related to the degree of underpricing, and average initial returns fall substantially from 27% to 1% when adjusted for rationing allocation in Singapore case study. Levis (1990) and Keloharju (1993) claim Rationing share allocation mechanism could reduce the initial return in UK, and in Finland respectively. Aggarwal, Prabhala, and Puri (2002) also find that institutional investors earn greater returns on their IPO allocations than do retail investors largely in bookbuilding mechanism, because they are allocated more shares in those IPOs that are most likely to appreciate in price. However, imposing constraints on the underwriters allocation discretion can interfere with the efficiency of the bookbuilding. The quality of bookbuilding in many European and Asian countries is damaged by certain restriction on the use of bookbuilding, which leading to higher underpricing (Ljungqvist et al., 2003). Requiring that a certain fraction of the shares be allocated to retail investors, as is common in parts of Europe and Asia, reduces underwriters ability to target allocations at the most aggressive (institutional) bidders and so may force them to rely more on price than on allocations to reward truth-telling. Moreover, empirical study indicates that bookbuilding in countries outside the US only reduces the level of underpricing when used in combination with US investment banks (underwriter) and targeted at US investors. Although the functioning of the different issuing me