What are the most important present and future foreign policy Essay

What are the most important present and future foreign policy challenges and what are the possible foreign policy options for dealing with those challenges - Essay Example The question then becomes how to fight for the values we believe in. America during this period and up until the present day has been trying to find foreign policy options that allow it to fight for what is believes in. The choice in a real sense has been between soft power and hard power. America has chosen the latter, while Europe has chosen the former. The Balkan Wars were one of the first stumbling blocks to the concept of a peaceful new world order. It turned out that having the US as the lone power in the world was not a solution to problems around the world. There was simply too much to be responsible for. As was demonstrated in the Balkans in the 1990s, Europeans weren’t able to project a credible military force even within Europe. This was a painful time for Europe. Instead of solving global conflicts, they looked inward. The Europeans resorted to the only real talent they had at the time: endless diplomatic measure through international institutions such as the UN. The success of European integration and solving the "German problem" had led a lot of Europeans at the time to believe that they live in a Kantian paradise where international institutions could banish war forever. This illusion came crashing down with the Balkans, where the Europeans were powerless in the early 1990s, and Chechnya, where they chose to tur n a blind eye, intimidated by an unstable and resurgent Russia, and unable to finding a compelling political reasons to engage. The truth is that America and Europe are very different and have different foreing policy goals and different methods of achieving those goals. Indeed, they have different values. There is reason to believe that the Americans and Europeans act differently. Americans are big and strong (both economically and militarily) whereas Europeans are relatively weak (especially militarily). This influences the way they see the world in a very profound sense. This means that America has to

Thinking about your future self Essay Example for Free

Thinking about your future self Essay When I am 72 years old, I will have a large family with grandchildren and grand-grandchildren. I will be the happiest person in the world, who has overcome seven decades of fruitful life, has valued the essence of the life; to love and be loved, and has learned how to love and be loved. I see myself as a tender and loving grandmother, full of optimism and respect towards innovation and progress. I will cherish warm relations with all of my family members, old friends and other relatives. I do not imagine my life without close people, especially at the end of the life, human relations become more specific and as all elder people, I too, will greatly depend upon positive relations. Maintenance of friendly and loving atmosphere around me will be my main goal. I would dream to be in good health and good shape but for 72 years old person being able to take care of myself, to be able to move, to see and hear, do not have chronic serious illnesses is a positive perspective. From now on I foresee that I might have problems with my backbone and probably have blood pressure problems. Problems of mobility are also threatening me and many of the population, due to ignorance of healthy lifestyle and less time spent on walking and being in the nature. It’s difficult to look ahead and see what goals I will have in my elder years, practically the last years of my life. They will be short termed and rather practical; to try to be in good health, make my days differ and spend those years surrounded by family members. The last dream seems so unreal, due to the life conditions and intentions of the younger generation to live separately. In many cases the education and career development of the younger members force tem to leave home. One more point, I will probably not be adaptable to new places to live and will keep the house I am used to live in. I tried to analyze if I will be self centered or an open and devoted person. Today I am in the middle, and I hope to keep the same line also during the years that seem so distant. In order to be able to love and be loved, one should keep the middle line and not forget the outer world or oneself. I will be surely concerned about the well being of my relatives and friends, as much as I will be concerned about myself and try to get the same attitude towards me. I will be very upset if I am forgotten, or my birthday is not remembered, my heritage and life experience is not appreciated etc. Anyway, the goals of my last years will be like a prologue; appreciation of my past. When I thought about the age 72, it seemed to me that I will be full of wisdom, will know EVERYTHING about life. It is an expectation young people cherish in their hearts, that one day they will get all the answers. It is something impossible; people leaving the world leave much more puzzled than they were before. I have always read the question â€Å"Why?† in the eyes of the dying people. I am not someone special and will probably think about the life and human relations, about God, birth and death, life full of sufferings and efforts, full of endless work, failures and successes. I have the feeling that I will be sitting on a high hill and look down at the world. I will probably be extremely puzzled about what I see Daily activities will surely save me from thinking about global issues that have not so far found their answers. I will read a lot; will watch TV, mainly news and new films, will listen to music, the old and my loved ones. Internet will have its place in my life. I will try to walk a lot and attend clubs of my interest. If my health and finances allow me, I will travel a lot. I will try to make the last stage of my life into an endless vacation. Active lifestyle is my passion. If I am healthy, I will be in motion every minute. Again and again, my family members will take the most special part of my life. I really dream to be able to spend time with my grandchildren, to play with them, talk to them, take care of them and serve their loved dishes on their birthdays. I will try to create commemoration days, family days which will gather the large family all together. Unity can save from an endless number of troubles. The main goal of the elderly, in reality, should be the cultivation and maintenance of unity among the family members. I will try to reach this goal and be the tying force for my family.

The Character of Alice in Animal Dreams :: Animal Dreams Essays

The Character of Alice in Animal Dreams      Ã‚  Ã‚  Ã‚   She is dead.   She does not appear physically but haunts mentally.   She is Codi and Hallie's mother Alice, the late wife of Homero Noline.   Throughout the novel Animal Dreams by Barbara Kingsolver, Alice impacted the characters, action, and theme(s).      Ã‚  Ã‚  Ã‚  Ã‚   When Alice passed away she took part of Homer with her.   What she left was a misfit of time and circumstance; an emotionally distraught and distant man who attempted to resemble a father but veered more towards the tin man. Homero existed beyond his wife as only a page out of an instruction manual, the one with the caution statement. Homero's delicate heart decided that the only way to endure Alice's death was to flush any remembrance or resemblance of her out of his fortified technical realm which throughout the novel becomes increasingly skewed. Kingsolver pushes home this idea by omitting Alice from any of Homer's frequent flashbacks which are usually mishaps from the past involving his daughters.   These incidents are his only recollection of his daughters' estranged childhood   in which he strained to create slippery and unmothered women.      Ã‚  Ã‚  Ã‚  Ã‚   Homer's fear of becoming attached to anything which reminded him of Alice resulted in an unorthodox childhood for Hallie and Codi.   Homero was more of a child mechanic than a father.   Retaining only   his technical aptitude after Alice died all he could do was provide his kids with orthopedic shoes and the correct medicine.   When not fixing Codi or Hallie's present or future ailments Homero took photographs of natural objects and slyly transformed them into man- made devices by doing what he seemed to be best at, distorting images.      Ã‚  Ã‚  Ã‚  Ã‚   Codi, similar to her father mentally blocked out her past.   Her childhood remained within her as only a series of stained and misplaced memories.   Codi attempted to follow in her father's emulsion lined footprints, fixing every one of life's problems with an internal wrench.  Ã‚  Ã‚   By approaching life from behind this falsified image Codi managed to distance herself from everything and everyone who could have hurt her.   One aspect of life and time in which Codi was bred to be distanced from is the past.   As Codi grew older she

The Unwanted

I am writing this letter because I want to recommend the book –â€Å"The Unwanted† by Kien Nguyen to 11th graders in high school. â€Å"The Unwanted† is a work of nonfiction and it is about the Vietnam War. This is the true story about Kien’s childhood life after the communist takeover Vietnam in 1975. In my opinion, war is cruel for people, and it causes many different social issues. The students in 11th grade are studying history, and history is a requirement subject in high school. The major theme in this book for 11th graders is the effect of war. Since teens need to study history at school, they only learn from the book.However, they never imagine a war is always related to our life. The reason for 11th graders to learn from war is discrimination. Discrimination happens in every country and discrimination still exists in our life, especially in the United States. The United States is a multi-ethnic country, and there are many different races’ p eople live in the same community. Discrimination not only happens during the war, but it is also happens in school. At school, teens are studying with different races of classmates, and they have different cultures and backgrounds. So teens should learn how to get alone with each other.For example, Kien is a mix-raced and he is a good student whom his teachers are proud of his accomplishments. His teacher recommends him to be a leader in front of parade. He is very proud and it is a good challenge for him to do his best. He wants his mother to be proud of him too. However, his dean cancels his qualification before the parade begins because of his mix-raced. His mother is ashamed about Kien’s mix-raced and she is very worry about him. When the police go to check their family status after the fall of Saigon; his mother worries about his identity.If the police know about Kien’s identity, they might take him to jail. So his mother dyes his hair to make him looks like a Vie tnamese. To dye Kien’s hair and hide his identity shows Kien is discriminated by social community. Although racial discrimination exists in our society, people take pride in mix-raced. Most people nowadays consider mix-raced kids as beautiful or handsome. However, mix-raced kids are discriminated during the Vietnam War; their fates are terrible because the communist take over Vietnam and American help their opposite side. Therefore, the communist consider American as enemies. So the discrimination nfluences teens 11th graders because they need to know more about the social problem in the war. Also, teens should learn the racial discrimination from Kien’s experience. It could always remind teens to get alone with others when they have discrimination at school or in community. Besides, learning more discrimination information also helps them to improve their historical knowledge. Another reason for me to recommend this book to 11th grader is appreciation of Kien’s hard life after the war. Now, our living standard is better than the life in war; however, some families are still facing financial problem.Also, Kien’s life is affected by Vietnam War which he must work hard to support his family’s financial problem. Moreover, 11th graders can learn from Kien’s experience, begin to live independently. So, this is a good chance for the teens to learn a lesson from Kien’s experience. For example, Kien was living in a wealthy family, and he doesn’t need to worry about his life. However, his life has changed after Vietnam War. He works hard to less his mother’s burden. Sometimes he feels helpless because no one can help him; everyone is worrying about their life at the same time.He finally learns how to take care of his family and earn money for his family. He is matured by his life and he acts like an adult. No matter how bad the living environment Kien has, he still accepts it. As teenagers, we should learn from Kien’s life experience to handle our difficulties. Also, this is the useful and helpful message for 11th grader; they can learn a lesson from Kien’s hard life and learn how to handle the difficulties if they have family financial problem. On the other hand, survival and hope are the most important factors in our life.Everyone has a hope when they live in the world and works hard to find a living way. If people do not have a hope to survive, they might live like a person without soul. Also, some of people never give up when they lose their hope; they try to find their hope to survive. But some teens do not think so, sometimes they feel hopeless when they are facing difficulties without any helps. In this book, Kien is hopeless just after the fall of Vietnam. He is too little to handle all of his difficulties in his life. Because he is the oldest son for his mother, he has to take all of the responsibilities.Kien never gives up when he is facing his difficulties. He tries his best to help his family out of Vietnam. His father is an American and he is looking for his father; he needs his father’s help, and he wants his father takes him out of his misfortune. From his difficulties to a way out of Vietnam, it gives him a hope in his life. When 11th graders study many different wars around the world, some of them might feel people in the war are hopeless and helpless; they don’t want to accept their misfortune. It also helps teens to understand even the environment is terrible, they still can find their way to live.As a result, survival is very important in everyone’s life. I like this book very much after I finish it. I am so excited and nervous by Kien’s life changes in this book. I really want to recommend this book to 11th graders who are interest in history and want to study history, because students in 11th grade begin to study history and it is the requirement subject in high school. So, this book can helps them to know more details of historical events in Vietnam War. From Kien’s life, hope and discrimination in the war, they can get the different point of view in the book.Also, they will learn how Kien helps his family and handles his hardship in his life. Now, the teenagers don’t understand the difficulties after the war, because they live under their parents’ protection. For some teens are mix-raced like Kien, they can compare the different situation about the discrimination with Kien’s experience. Before, I had heard some histories from my parents about the Vietnam War and I had learned a little bit at school, and I don’t know how people live during the war. Now, I can image how Kien’s life in Vietnam and how hard he lives under the community society.

Critical Lens Essay Essay

â€Å"It is not what an author says, but what he or she whispers that is important,† by Logan Pearsall Smith. This quote means that the author delivers the theme through underlie themes. A lot of the times he may not come out and say what they are trying to say. Most of the time you have to read between the lines. This statement is true in literature as well as in life. Two literary works that prove this quote to be true are â€Å"The Tragedy of Macbeth†, the play, by William Shakespeare and â€Å"The Lord Of The Flies†, the novel by William Golding. â€Å"The Tragedy of Macbeth†, the play, by William Shakespeare proves this quote to be true by using many different methods. William Shakespeare uses themes to whisper that too much drive for something can help to destroy a person. Also taking part in evil can destroy a person. The Main character, Macbeth, allows his drive, or tragic flaw, to control his life to the point of death. One Example is when Macbeth gets killed because he killed so many other people, including Macduff’s family, and Macduff wanted revenge. In it self the title of the play â€Å"The Tragedy of Macbeth†, is a way of the author whispering to the audience that Macbeth will die by the end of the play. Throughout the play Shakespeare tells the readers that it was his drive and participation in evil that lead the Macbeth’s death, you just have to read between the lines to see this. The second literary work that helps to prove this quote to be true is â€Å"The Lord Of The Flies†, the novel by William Golding. This novel also uses theme to prove this quote to be true. Golding whispers that the theme of â€Å"The Lord Of The Flies† is that man’s evil action dictates the extent that democracy can flourish. The protagonist, Ralph, is elected as the leader of the young group of boys on the island. Throughout the novel Ralph is constantly challenged by the antagonist, Jack. Golding uses the conch as a symbol of democracy. Because of Jack Simon and Piggy both died. Simon and Piggy symbolized intellect and reason. Throughout The Lord Of The Flies Golding whispers that everybody has a dark side, which is what prevents democracy from flourishing. † It is not what an author says, but what he or she whispers that is  important,† by Logan Pearsall Smith. This quote means that the author delivers the theme through underlie themes. A lot of the times he may not come out and say what they are trying to say. Most of the time you have to read between the lines. This statement is true in literature as well as in life. Two literary works that prove this quote to be true are The Tragedy of Macbeth, the play, by William Shakespeare and The Lord Of The Flies, the novel by William Golding. Both of these novels used many different methods of showing how the author whispers the theme to the audience. In both situations the readers were able to figure it out.

The eNotes Blog Happy Birthday, ToniMorrison

Happy Birthday, ToniMorrison Today, February 18, marks the 82nd birthday of Toni Morrison. Morrison was awarded the Pulitzer Prize in 1988 for her novel Beloved.   She is the United States only living literary Nobel Prize winner (awarded to her in 1993). Morrison was born   Chloe Wofford to working class parents in 1931. She grew up in Lorain, Ohio and converted to Catholicism at age twelve.   Her baptismal name was Anthony, which is where Toni comes from; Morrison is her married name. In 1958, she married fellow  Howard University professor Harold Morrison. The couple had two children but divorced in 1964. In the late 1960s while a professor at Howard, Morrison began writing with an informal group of friends. She developed her first story there about a black girl who longed to have blue eyes. This story was the basis for her novel  The Bluest Eye  (1970).  Ã‚  Other novels have enjoyed both critical and popular success, including   Sula  (nominated for a National Book Award in 1975),  Song of Solomon  (1977),  Beloved  (1987) and  Jazz  (1992). Morrison has been called a writer who has enriched our literary heritage over a life of service, or a corpus of work   and one whose   novels [are] characterized   by visionary force and poetic import [and] give life to an essential aspect of American reality. Here are ten of the most memorable lines from Morrisons works  and lectures: 1.   Ã¢â‚¬Å"Make up a story For our sake and yours forget your name in the street; tell us what the world has been to you in the dark places and in the light. Dont tell us what to believe, what to fear. Show us beliefs wide skirt and the stitch that unravels fears caul.†Ã‚  Ã¢â‚¬â€¢Ã‚  Ã‚  The Nobel Lecture In Literature, 1993 2.   Ã¢â‚¬Å"She is a friend of my mind. She gather me, man. The pieces I am, she gather them and give them back to me in all the right order.†   Ã‚  Beloved 3.   Ã¢â‚¬Å"Dont ever think I fell for you, or fell over you. I didnt fall in love, I rose in it.†   Jazz 4.   Ã¢â‚¬Å"I tell my students, When you get these jobs that you have been so brilliantly trained for, just remember that your real job is that if you are free, you need to free somebody else. If you have some power, then your job is to empower somebody else. This is not just a grab-bag candy game.† 5.   Ã¢â‚¬Å"What difference do it make if the thing you scared of is real or not?†   Song of Solomon   6.   Ã¢â‚¬Å"In this country American means white. Everybody else has to hyphenate.† 7.   Ã¢â‚¬Å"Along with the idea of romantic love, she was introduced to anotherphysical beauty. Probably the most destructive ideas in the history of human thought. Both originated in envy, thrived in insecurity, and ended in disillusion.†   The Bluest Eye 8.   Ã¢â‚¬Å"Love is or it aint. Thin love aint love at all.†   Beloved 9.   Ã¢â‚¬Å"Gimme hate, Lord,† he whimpered. â€Å"I’ll take hate any day. But don’t give me love. I can’t take no more love, Lord. I can’t carry itIt’s too heavy. Jesus, you know, You know all about it. Ain’t it heavy? Jesus? Ain’t love heavy?†   Song of Solomon   10.   Ã¢â‚¬Å"All paradises, all utopias are designed by who is not there, by the people who are not allowed in.

Medical Law deals Essays

Medical Law deals Essays Medical Law deals Paper Medical Law deals Paper Medical Law deals with the ethical and philosophical issues medical profession encounters during the course of treatment of patients. There is no separate legislation as such but it encompasses contract law, tort law and criminal law mainly and in addition administrative law, procedural law, trusts, conflicts of laws, labour law, and personal and intellectual property law. All these relating to the human body â€Å"recognised as an immensely complex index of social attitudes, and ambivalence, cultural expression, and expectations, public representations, and regulation. Medical Law is not a subject but a responsibility and largely is a process of naming,blaming,claiming and declaiming each having ethical and philosophical dimensions. (Morgan 2001 p 4) Medical Ethics Medical Law can be construed as body of medical ethics giving rise to moral values conflicting with medical cases and covers many principles in the related branches of health care ethics and nursing ethics. Many a time medical community is confronted with issues touching the values of individual patient, family and non-medical community. The values arsing out of medical ethics are: 1) Beneficence ((Salus aegroti suprema lex. ) Best interest of the patient should be the utmost motive in the mind of the medical practitioner while treating a patient. 2) Non-maleficence (Primum non nocere) Doing no harm under any circumstances should be the maxim for the medical profession. 3) Autonomy (Voluntas aegroti suprema lex) Freedom should be available to patients to avail or decline a line of treatment. 4) Justice Optimum use of health resources which are scarce to be made available to the most deserving cases. 5) Dignity Dignity of the patient and the practitioner should not be sacrificed in the process of treatment. 6) Truthfulness and honesty This is arising out of concept of â€Å"informed consent† dictated by the historical events of Nuremberg trials and Tuskegee Syphilis Study. Often it becomes difficult to rigidly apply these values as they come into conflict with reality mostly concerning the patients’ well being even if it means that patient should die for good. In the United Kingdom Good Medical Practice guidelines have been given by General Medical Council to act under these situations. Philosophies in decision making in health care by Professionals, managers and policy makers Deontology It is the concept of duty or moral obligation. (Webster’s 1978) If person acts wrongly for good and rightly for a negative outcome, it is a violation of deontology. The theory of deontology was propounded by German Philosopher Immanuel Kant. He insisted that duty must be absolute and categorical which must be always carried out uninfluenced by circumstances. What is right must be upheld. This kind of duty is unlike contingent duty to be performed depending upon the need. This absolute duty called categorical imperative has been prescribed by Kant as follows. One’s action should be guided by the principles which should be universally applicable to all keeping in view that mankind is both means as well as an end and as if one is a law maker. Deontology argues for laying down of the rules for taking moral decisions to be applicable equally for all on the premise that God’s human creations are equal. And for who do not believe in God, still the all humans are equal as they share the same genes. Critics of Kant’s Deontology were Jeremy Bentham and John Stuart Mill. Jeremy Bentham maintained that Deontology is a euphemism for morality and that inflexible principles of Kant’s natural law or universal reason are subjective. John Stuart Mill held that since Deontology does not prescribe which shall prevail whether rights or conflict when both comes into conflict, Deontology does not guide us in such situations. â€Å"Shelly Kagan, a current professor of philosophy at Yale University, notes in support of Mill and Bentham that under deontology, individuals are bound by constraints (such as the requirement not to murder), but are also given options (such as the right not to give money to charity, if they do not wish to). His line of attack on deontology is first to show that constraints are invariably immoral, and then to show that options are immoral without constraints. Another, unrelated critique of deontological ethics comes from aretaic theories, which often maintain that neither consequences nor duties but character should be the focal point of ethical theory. The ancient Greek philosopher Aristotle, for example, sought to describe what characteristics a virtuous person would have, and then argued that people should act in accordance with these characteristics† ( Kant 1964) Consequentialism The theory of consequentialism is correctness or otherwise of an action depends on its outcome unlike deontological view of absoluteness of morality. Hence an action is not unethical if it results in greater advantage than the damage it causes. It is akin to approaching the issues by weighing cost against benefit resulting in best outcome by selecting the right action. This consequential-based decision is what is known as utilitarianism which examines utility as a measure of maximum benefit for the maximum number possible. Economising and better living standard are the other two cannons of consequentialism. Quality-adjusted-life-years (QALYs) or Disability-adjusted-life- years (DALYs) are the two measures that determine the measurement of living standard. Advocates of consequentialism do not give much credence to principles when dealing with materialism especially life and death matters as the so called principles are not capable of being recognised, given priority and validated. However critics hold the view that consequentialism results in the end justifying the means by surrendering rights of an individual for the common good. The above two theories of deontology and consequentialism play crucial roles in health care decision making which invokes morals. This branch of knowledge is biomedical ethics. As already discussed above, while taking health related ethical decisions, the four principles to be followed are respect for autonomy, beneficence, non-maleficence and justice for the patients and their family and community. (Beauchamp, T and Childress, J 2001) The physician should ask himself whether his action would violate the patient’s personal autonomy, whether all concerned have consented to his action and whether he respects their choosing differently. He should know whether his action results in benefits or any one will affected by his action in which case what he can do to mitigate the suffering. He should ask himself if he has informed the patient and or the patient’s family members of the risks frankly and in case of crisis how best he can avoid the harm likely to be caused. Further he should recognise all the parties likely to be affected by his action and whether his action will be justifiable and if there is any scope for making it more justifiable. (Carter 2002) Deontology and Consequentialism illustrated In hospitals it is a practice keep occasionally organs and tissues of infants and fetuses after post-mortem for the educational purposes. While informed consent for this is currently being taken from the parents, there was no such practice of taking informed consent 10 to 20 years ago. Lately it came to be known that some hospitals in England had kept the organs without informed consent which was discovered by the parents concerned. Hospital justified their action as paternalistic in order to avoid emotional problems for the parents and at the same time for the reasons of benefits accruing to society through research and education using the retained organs. This issue gives rise to discussion on moral relativism, utilitarianism, and Kantian ethics and biomedical ethics as these principles are relative to time and place. (Arcus and Kessel 2002) Moral relativism is about changes over time and place in that ethics depends on history, culture and context. Galen, the celebrated physicist of Rome used to carry out his research on pigs and dogs as it was regarded immoral to handle organs of humans in his time. By the turn of 19th century human cadavers became available to England Hospitals through clandestine sources from the graves mainly for their teaching purposes. Today that these practices cannot be justified without consent, is moral relativism. At the same time same analogy can not be used for Nazi experiments on prisoners during the world war II under moral relativism framework. This is so because principles are the same regardless of the time. Because retention of organs without consent was still ethical for its good intentions and Nazi experiments were unethical for the torture they perpetrated on humans. Moral relativism can not be applied even during the old time under the premise ‘value changes over time’. Deontology based on duty tells that people should be treated as ends in themselves and not as means to an end. Parents’ argument is that the organs of their babies are used for research and not as ends in themselves. In the countries of Buddhists and Hindus, state of bodies of the dead is important as they believe in reincarnation. Hence under Deontology retention of the organs is unethical. On the other hand consequentialism allows retention of the organs for the reasons of benefits to society. In situations such as these when morals and duties come into conflict, the above said four principles i. e. respect for autonomy, beneficence, non-maleficence and justice should be applied. â€Å"As Lindblom says, we need to incrementally muddle through in our decisions. We need to be aware of these underlying principles and continually monitor how they are being exhibited in practice. Guidance is available from the Royal College of Pathologists and the Nuffield Council, as well as from international mandates such as the Nuremberg Code and the Declaration of Helsinki. They all emphasise the importance of respect for peoples autonomy. The Declaration of Helsinki, for example, states that considerations related to the well-being of the human subject should always take precedence over the interests of science and society. (Arcus and Kessel 2002) Euthanasia Euthanasia is legal in Netherlands. A case study by Leget C (2004) reveals reactions from the Dutch medical students towards medical ethics on being shown a 1994 documentary ‘Death on Request’(Ikon Televison Network) portraying the case of a patient being put to death by Euthanasia for the reasons of his having been diagnosed with ‘amyotrophic lateral sclerosis’. These students had been asked to prepare themselves by reading the Dutch Medical ethics Handbook which with many arguments for and against Euthanasia does not take sides. Four kinds of responses from the students who are emotionally involved on the subject reflect four different concepts of ethics. The first response is that Euthanasia is lawful and has nothing to with ethics â€Å"This attitude is endorsed by a particular version of liberal individualism. Liberalism, as a tradition in ethical and political thought, has contributed to peaceful coexistence and discussion in a situation of disagreement. The version of liberal individualism embraced by some of the students, however, lacks any awareness of the political dimension and importance of this tradition. This version inhibits ethical discussion by banning all ethical discussion to the personal sphere and subsequently reducing it to a matter of agreement† (Leget C 2004) Second response is death by progression of disease does differ much by euthanasia as consequences are the same. Hence refusing euthanasia is not justified as otherwise the patient is left with terrible possibility of suffocation. â€Å"This approach can be endorsed by various consequentialist theories as utilitarianism or pragmatism. Ethical discussion is inhibited here by the fact that the problem is considered to be medical rather than ethical. A good doctor should not deliver his patient to unnecessary suffering. †(Leget C 2004). The third response is argument on ethical basis is useless because it amounts to subscribing to personal choices. â€Å". In this particular case, the fact that so many arguments for and against euthanasia are listed in the medical ethics handbook confirms their conviction that ethical lines of reasoning can sustain and justify any possible viewpoint. Eventually, however, one’s stance is determined by personal factors like individual history and education that cannot be analysed or argued further. This approach is supported by emotivist theories that identify ethical stances as personal preferences. Again ethical discussion is avoided and made impossible† (Leget C 2004) Fourth response is based on religion. Though Dutch students are not religiously oriented, some of them come from religious background which prohibits euthanasia. While the latter strongly argues against, the former group thinks that it is their moral obligation to identify with latter’s religious sentiments. â€Å"Here the individual liberalism that promotes the respect of non-religious students strikes an alliance with deontologism by the common idea that the ethical viewpoints of a religious community are beyond argumentation. Again any ethical discussion is made impossible or rather suffocated under the veil of tolerance† (Leget C 2004) The same arguments can hold good for other controversial issues like selective abortion, surrogate motherhood, and cloning, subjecting humans to clinical trials etc. Conclusion When there can be an ethical theory for each response, it only shows that ethical theories do not offer any solution as they amount to nothing. On the other hand there are reasons outside the moral and ethical paradigm to make the relationship of medicine with ethics tricky and challenging. First reason, a science should be result oriented i. e. it should lead to recovery from sickness or promote well-being. Hence it can be by nature as art should produce results. Ethics as a philosophical sermon only defines the problem where as medicine seeks to solve the problem having to decide on issues within short time span and therefore accords with consequentialist theories. The second reason â€Å"Students, who are trained in approaching problems from such a perspective, are likely to adopt a pragmatist or consequentialist stance in ethics. All this has been described as the influence of the so called hidden curriculum: the process of socialisation by which students learn how to cease to be a lay person by . Hafferty F, Fanks R 2002 and by the role models, jokes, anecdotes by Paice E, Heard S 2002† (Leget C 2004) The third one is that medicine should be viewed a part of modern way of life.. â€Å"As North Atlantic culture is dominated by liberal individualism, the so called ethical questions are no longer primarily seen in their social dimension. Ethical decisions are delegated to the personal life sphere; a sphere that is very much individualised. †(Legit C 2004). The last being the age of doctors. Greek Philosopher Aristotle had opined that involvement with ethical issues matures with age. â€Å"Maturity helps seeing the tragic and complex nature of reality†. (Leget C2004) As a coping mechanism, detachment is a natural reaction. †(Finlay S, Fawzy M 2001) REFERENCES Arcus Kim, Kessel Anthony S Are ethical principles relative to time and place? A Star Wars perspective on the Alder Hey affair British Medical Journal 2002, 325:1493-1495 (21 December) Beauchamp, T. Childress, J. (2001) Principles of Biomedical Ethics, 5th Ed, Oxford University Press, Oxford. Carter Lucy 2002 Office of Public Policy and Ethics Institute for Molecular Bioscience The University of Queensland, Australia uq. edu. au/oppe October 2002 Finlay S, Fawzy M. Becoming a doctor. J Med Ethics: Medical Humanities 2001; 27:90–2 Hafferty F, Fanks R. The hidden curriculum, ethics teaching and the structure of medical education. Acad Med 1994; 69:861–71. [Medline] Ikon Televison Network, Death on Request, 1994. Immanuel Kant (1964). Groundwork of the Metaphysic of Morals. Harper and Row Publishers, Inc. ISBN 0-06-131159-6. Leget C 2004 University Medical Centre Nijmegen, Nijmegen, Netherlands Avoiding evasion: medical ethics education and emotion theory Journal of Medical Ethics 2004; 30:490-493 © 2004 BMJ Publishing Group Ltd Institute of Medical Ethics Morgan Derek 2001 Issues in Medical Law ad Ethics page 3 Cavendish Publishing Limited, London Paice E, Heard S, Moss F. How important are role models in making good doctors? BMJ 2002; 325:707–10 Websters New World Dictionary of the American Language, p. 378 (2d Coll. Ed. 1978).

Biography of Brett Kavanaugh, Supreme Court Justice

Biography of Brett Kavanaugh, Supreme Court Justice Brett Michael Kavanaugh (born February 12, 1965) is an Associate Justice of the Supreme Court of the United States. Prior to his appointment, Kavanaugh served as a federal judge on the United States Court of Appeals for the District of Columbia Circuit. Nominated to the Supreme Court by President Donald Trump on July 9, 2018, he was confirmed by the Senate on October 6, 2018, after one of the most contentious confirmation processes in U.S. history. Kavanaugh fills the vacancy created by the retirement of Associate Justice Anthony Kennedy. Compared to Kennedy, who was considered moderate on some social issues, Kavanaugh is regarded as a strong conservative voice on the Supreme Court.   Fast Facts: Brett Kavanaugh Full Name: Brett Michael KavanaughKnown for: 114th Associate Justice of the United States Supreme CourtNominated by: President Donald TrumpPreceded by: Anthony KennedyBorn: February 12, 1965, in Washington, D.C.Parents: Martha Gamble and Everett Edward Kavanaugh Jr.Wife: Ashley Estes, married 2004Children:   Daughters Liza Kavanaugh and Margaret KavanaughEducation: - Georgetown Preparatory School; Yale University, Bachelor of Arts cum laude,1987; Yale Law School, Juris Doctor, 1990Key Accomplishments: White House Staff Secretary, 2003-2006; Judge, U.S. Court of Appeals for the District of Columbia Circuit, 2006-2018; Associate Justice of the United States Supreme Court, October 6, 2018- Early Life and Education Born on February 12, 1965, in Washington, D.C., Brett Kavanaugh is the son of Martha Gamble and Everett Edward Kavanaugh Jr. He gained his interest in the law from his parents. His mother, who held a law degree, served as a judge on the Maryland state Circuit Court from 1995 to 2001, and his father, who was also an attorney, served as president of the Cosmetic, Toiletry and Fragrance Association for over 20 years As a teenager growing up in Bethesda, Maryland, Kavanaugh attended the Catholic, all-boys Georgetown Preparatory School. One of his classmates, Neil Gorsuch, went on to serve as a U.S. Supreme Court Justice. Kavanaugh graduated from Georgetown Preparatory in 1983. Kavanaugh then attended Yale University, where he was known as a â€Å"serious but not showy student,† who played on the basketball team and wrote sports articles for the campus newspaper. A member of the Delta Kappa Epsilon fraternity, he graduated from Yale with a Bachelor of Arts cum laude in 1987. Kavanaugh then entered Yale Law School. During his confirmation hearing testimony, he told the Senate Judiciary Committee, â€Å"I got into Yale Law School. Thats the number-one law school in the country. I had no connections there. I got there by busting my tail in college.† An editor of the prestigious Yale Law Journal, Kavanaugh graduated from Yale Law with a Juris Doctor in 1990.   Early Legal Career Kavanaugh began his career in the law working as a clerk for judges in the Third Circuit U.S. Court of Appeals and later the Ninth Circuit Court of Appeals. He was also interviewed for a clerkship by Chief Justice of the United States William Rehnquist but was not offered the job. After being admitted to the Maryland Bar in 1990 and the District of Columbia Bar in 1992, Kavanaugh served a one-year fellowship with then-Solicitor General of the United States, Ken Starr, who later headed the investigation that led to the impeachment of President Bill Clinton. He then worked as a clerk for Supreme Court Associate Justice Anthony Kennedy, the justice he would eventually replace on the court. After leaving his clerkship with Justice Kennedy, Kavanaugh returned to work for Ken Starr as an Associate Counselor in the Office of the Independent Counsel. While working for Starr, Kavanaugh was a principal author of the 1998 Starr Report to Congress dealing with the Bill Clinton-Monica Lewinsky White House sex scandal. The report was cited in the House of Representatives debate as grounds for President Clinton’s impeachment. At Kavanaugh’s urging, Starr had included graphically detailed descriptions of each of Clinton’s sexual encounters with Lewinsky in the report. Independent Counsel Kenneth Starr, center, talks with Deputy Independent Counsel John Bates, left, and aide Brett Kavanaugh, right, and another colleague in the Office of the Solicitor General during the Whitewater Investigation on November 13, 1996 in Washington DC. Getty Images In December 2000, Kavanaugh joined the legal team of George W. Bush working to stop the recount of Florida’s ballots in the controversial 2000 Presidential election. In January 2001, he was named as an associate White House Counsel in the Bush Administration, where he dealt with the Enron scandal and assisted in the nomination and confirmation of Chief Justice John Roberts. From 2003 to 2006, Kavanaugh served as the Assistant to the President and White House Staff Secretary. Federal Court of Appeals Judge: 2006 to 2018 On July 25, 2003, Kavanaugh was nominated to the United States Court of Appeals for the District of Columbia Circuit by President George W. Bush. However, he would not be confirmed by the Senate until almost three years later. During the on-again-off-again confirmation hearings, Democratic senators accused Kavanaugh of being too politically partisan. After winning the recommendation of the Senate Judiciary Committee on a party-line vote on May 11, 2006, Kavanaugh was confirmed by the full Senate by a vote of 57-36 on May 11, 2006. During his 12 years as an appeals court judge, Kavanaugh authored opinions on a range of current â€Å"hot-button† issues ranging from abortion and the environment to employment discrimination law and gun control. As to his voting record, a September 2018 Washington Post analysis of some 200 of his decisions found that Kavanaugh’s judicial record had been â€Å"significantly more conservative than that of almost every other judge on the D.C. Circuit.† However, the same analysis showed that when cases for which Kavanaugh had written a majority opinion were appealed to the Supreme Court, the Supreme Court agreed with his position 13 times while reversing his position only once.   Supreme Court Nomination and Confirmation: 2018 After interviewing him, along with three other U.S. Court of Appeals judges on July 2, 2018, President Trump on July 9, nominated Kavanaugh to replace retiring Justice Anthony Kennedy on the Supreme Court. The tumultuous Senate confirmation process that played out between September 4 and October 6 would become a source of debate that deeply divided the American public along political and ideological lines.  Ã‚   Senate Confirmation Hearings Shortly after learning that President Trump was considering Kavanaugh for the Supreme Court, Dr. Christine Blasey Ford contacted the Washington Post and her local congresswoman, alleging that Kavanaugh had sexually assaulted her while they were both in high school. On September 12, Senator Dianne Feinstein (D-California) informed the Judiciary Committee that allegations of sexual assault had been lodged against Kavanaugh by a woman who did not want to be identified. On September 23, two other women Deborah Ramirez and Julie Swetnick, came forward accusing Kavanaugh of sexual misconduct. Protestors rally against Judge Brett Kavanaugh as they march in Washington, DC. Getty Images   In testimony during Senate Judiciary Committee hearings held between October 4 and October 6, Kavanaugh strongly denied all the allegations against him. Following a special supplemental FBI investigation that reportedly found no evidence corroborating Dr. Fords allegations, the full Senate voted to 50-48 to confirm Kavanaugh’s nomination on October 6, 2018. Later the same day he was sworn in as the 114th Associate Justice of the U.S. Supreme Court by Chief Justice John Roberts in a private ceremony. Family and Personal Life On September 10, 2001, Kavanaugh had his first date with his wife, Ashley Estes, a personal secretary to President George W. Bush at the time. The next day- September 11, 2001- they were evacuated from the White House during to the 9-11-01 terrorist attacks. The couple married in 2004 and have two daughters Liza and Margaret. A lifelong Catholic, he serves as a lector at the Shrine of the Most Blessed Sacrament Church in Washington, D.C., helps deliver meals to the homeless as part of the church’s outreach programs, and has tutored at the Catholic private Washington Jesuit Academy in the District of Columbia. Sources , Brett Kavanaugh Fast FactsCNN. July 16, 2018Kellman, Laurie. ,Kavanaugh Confirmed U.S. Appellate Judge The Washington Post. (May 23, 2006)Cope, Kevin; Fischman, Joshua. ,It’s hard to find a federal judge more conservative than Brett Kavanaugh The Washington Post. (September 5, 2018)Brown, Emma. , California professor, writer of confidential Brett Kavanaugh letter, speaks out about her allegation of sexual assaultThe Washington Post. (September 16, 2018)Pramuk, Jacob. , Trump Supreme Court nominee Brett Kavanaugh categorically denies sexual misconduct accusation detailed in New Yorker reportCNBC. (September 14, 2018)Sampathkumar, Mythili. ,Brett Kavanaugh confirmed to Supreme Court amid widespread outcry over sexual assault allegations The Independent. New York. (October 6, 2018)

UCCS personal statement Example | Topics and Well Written Essays - 500 words

UCCS - Personal Statement Example Moreover, it will be a dream comes true if my choice of carrier can be fulfilled. Apparently, since childhood, I have always had this urge to pursue nutrition since I believe good health depends on what a person consumes within the body. Evidently, biologist believes with the proper diet and workout, one’s health will never go wrong and medicines will be a mystery never to be uncovered. Furthermore, I am a person with a good heart to help others. In addition, I believe with the right training in a good institution I can impact other people positively and hence add some few days to other people’s lives. Moreover, I am deeply concerned that However, I already well informed on what a balanced diet entails. Actually, proteins, vitamins and carbohydrates constitute the basic components to a healthy diet. On the contrary, it’s not diet only that contributes to one’s good health. Another pertinent regiment towards perfect health is regular physical exercise. Furthermore, my inspiration towards studying nutrition is to intricately comprehend what good health means emotionally and spiritually towards the holistic wellbeing of an individual, A perfect example is the health advice pertaining to water therapy where one has to take like eight glasses a day. Evidently, this amount of water is proven to cure illnesses like headaches, flu and tiredness and prevent many more diseases. Therefore, in my endeavor to become a nutritionist I will be able understand the rationale behind such health therapies. In conclusion, I would like to humbly appeal for you to consider my request to join your institution of higher learning so that I can achieve my lifetime goal of engaging in the nutrition field. Clearly, I have a passion to in this field and will really appreciate if the fruits of my hard labour in education finally pay off. It is my utmost

Compare and contrast modern conservatism and modern liberalism Essay

Compare and contrast modern conservatism and modern liberalism - Essay Example The paper tells that one of the major requisites of the comparative analysis of modern conservatism and modern liberalism is a thorough understanding of the underlying principles of both these ideologies. In an attempt to classify the major arguments of modern conservatism, one may recognize that the body of opinion called conservatism does not have a clear-cut dogma or ideology. Rather than a system of ideological dogmata, it is mainly a body of sentiments which upholds the attitude we call conservatism. As Russell Kirk remarks, â€Å"Perhaps it would be well, most of the time, to use this word â€Å"conservative† as an adjective chiefly. For there exists no Model Conservative, and conservatism is the negation of ideology: it is a state of mind, a type of character, a way of looking at the civil social order.† However, a clear understanding of the major tenets of modern conservatism suggests that it is an ideology which shows respect for the institutions of law, Consti tution and the rights of the people. Although it has changed many of the traits of true conservatism, modern conservatism has played a crucial role in the equality, liberty, justice, and education of the people in the modern states. This fact is clear from Russell Kirk discussion of the ten principles that have loomed large during the two centuries of modern conservative thought, and he specifies that the conservative understanding of justice, education, etc have similar significance in the modern world. ... Rather than a system of ideological dogmata, it is mainly a body of sentiments which upholds the attitude we call conservatism. As Russell Kirk remarks, â€Å"Perhaps it would be well, most of the time, to use this word â€Å"conservative† as an adjective chiefly. For there exists no Model Conservative, and conservatism is the negation of ideology: it is a state of mind, a type of character, a way of looking at the civil social order.† (Guide, pg. 40) However, a clear understanding of the major tenets of modern conservatism suggests that it is an ideology which shows respect for the institutions of law, Constitution and the rights of the people. Although it has changed many of the traits of true conservatism, modern conservatism has played a crucial role in the equality, liberty, justice, and education of the people in the modern states. This fact is clear from Russell Kirk discussion of the ten principles that have loomed large during the two centuries of modern conser vative thought, and he specifies that the conservative understanding of justice, education, etc have similar significance in the modern world. In his comparison of the ideologies of modern conservatism and modern liberalism Russell Kirk considers that the former has more relevance than the latter. According to him, the great line of demarcation in modern politics is between the ultimate principles of these ideologies: â€Å"on one side of that line are all those men and women who fancy that the temporal order is the only order, and that material needs are their only needs, and that they may do as they like with the human patrimony. On the other side of that line are all those people who recognize an enduring moral order in the universe, a constant human nature, and

Emprical evaluation of Value at Risk(VaR) model using the Lusaka stock Dissertation

Emprical evaluation of Value at Risk(VaR) model using the Lusaka stock exchange - Dissertation Example Abstract This study develops an evaluation of Value at Risk measure for a portfolio consisting of three stocks traded at the Lusaka stock Exchange. The analysis set out from 1-day, 1% VaR and take a two dimension approach: the volatility models and the distributions are used when computing VaR. Consequently, the historical volatility, the EWMA volatility model, GARCH-type models for the volatility of the stocks and of the portfolio and a dynamic conditional correlation (DCC) model were considered. VaR was computed using standard normal distribution, and other different methodologies of taking into account the non-normality of the returns (the Cornish-Fisher approximation, the modeling of the empirical distribution of the standardized returns and the Extreme Value Theory approach). The objective was to evaluate the Value at Risk model using the Lusaka stock exchange return. The results suggest that using conditional volatility models and distributional tools that account for the non-n ormality of the returns leads to a better VaR-based risk management. ... ACKNOWLEDGEMENT 2 DECLARATION 3 BACKGROUND TO THE STUDY 7 1.1 INTRODUCTION 7 1.2 Overview of Lusaka Stock Index 9 1.3 Problem statement 12 1.2.2 Research Questions 13 1.2.1 Objectives 14 1.2.3 The Hypothesis: 14 1.2.4The organization of the rest of the chapters 14 LITERATURE REVIEW 15 Theoretical and Conceptual Framework 27 3.1 Introduction 27 3.2.2 Discussion of the Model 30 3.2.3Advantages of GARCH 31 3.3 Other Models 31 3.3.1 GARCH DCC 31 3.3.2 Historical volatility 33 3.3.3 EWMA Volatility Model 33 3.4 Distributions 34 3.4.1 The standard normal distribution 34 3.4.2 The historical quantiles 35 3.4.3 the t-Student, Normal Inverse Gaussian (NIG) and Generalized Hyperbolic (GH) distributions 35 3.4.4 The Cornish-Fisher (CF) approximation 36 3.4.5 Extreme Value Theory(EVT) 36 Methodology 39 4.1 Introduction 39 4.2 Research Design 39 4.3 Sources of Data 40 4.5 Data Collection Methods 40 4.6 Data Reliability 40 4.6 Data Analysis 41 4.7 Limitations to the Study 41 4.8 Summary 41 5.0 DAT A ANALYSIS , FINDINGS AND DISCUSION 42 5.1 The Data 42 5.2 VaR using the Historical Volatility 47 5.3 VaR using the EWMA volatility model 58 5.4 VaR using a GARCH volatility model for portfolio returns 66 5.5 VaR using GARCH volatility models for the stock returns 77 6.0 CONCLUSIONS 98 BACKGROUND TO THE STUDY 1.1 INTRODUCTION In the financial literature, three types of risk are distinguished; these are business risk, strategic risk and financial risk. Business risk pertains to the risks a firm faces exclusively on account of their presence in some product market. This type of risk stems from uncertainty in such activities as technological innovations, product

The Unglamorous Interface of an iPad Research Paper

The Unglamorous Interface of an iPad - Research Paper Example For some, it’s a declaration of who they are and what they can afford, but for most, it’s merely coping to the dictates of the society. With this virtue, capitalists please consumers by delivering the sleekest, fastest, and newest innovation on devices almost every week pushing their limits far from what used to be impossible and pulling its realization to the now. Who does not drool with the sight of an iPad, or with the sleeked digital SLRs in the market, or the sleekest smart phone? Who would not want a lifeline device that can answer any query or do things for you with just a touch of your hand? Man’s means comes way out of hand sometimes in order to meet an unachievable goal so as the capitalist’s aim to manufacture more even if this equates to considerably creating environmental of humanitarian damages. These electronic devices do not end up on the shelves of a gadget store in a whisk on the capitalist’s wand for the consumers to buy it. It go es to a tedious process of conceptualizing, engineering, manufacturing, and marketing. And like in any organization, this process can be echoed as a pyramid with the product on the high end exposed to the world of consumers and the manufacturers at the bottom kept hidden from everyone’s awareness (Lacy, p.32). ... As it proved to be a cost saving method, the giants seek suppliers from low-wage high-labor countries in Asia (Kwok, 776). In the beginning, it was seen as a win-win situation where companies attain their production goal at a very low cost while the labor country receives employment and compensation to salvage their economy. Yet, as time goes, this gratification became one sided tilting the better end to the capitalists and leaving the laborers on the grim end. It is with everyone’s knowledge that manufacturing evolves chemicals and materials that are damaging to the health of the people and the environment. Policies and regulations have been made to control this situation. Unfortunately, not every company placed this on their priority list. Just like the incidence that occurred in one of the factories in Chengdu, China, where a twenty-two year old man, named Lai Xiaodong, died from an explosion while at work due to combustion of chemicals. It is the factory that polished thou sands of iPad cases every day. Even the world’s mightiest company such as Apple cannot come clean when it comes to ethical issues of their manufacturing scheme. As the demands for the latest recline so as their demand for these manufacturers on the other side of the world. And meeting these demands is parallel to long working hours for the laborers, poor compliance of policies, risk of negligence in monitoring safety precautions and even sorting to usage of cheaper more volatile chemicals to lower the production costs (Duhigg, par.9). Above are the images of industrial districts of China depicting its hazardous consequence to the environment and its people (Lu Guang). â€Å"Apple never cared about anything other than increasing product quality and decreasing production cost†¦

Nursing Assignment Case Study Example | Topics and Well Written Essays - 750 words

Nursing Assignment - Case Study Example From this study it is cleaer that one of the most obvious features that an individual might seek to overlook with respect to Marcus situation and the means by which he adapted to the illness and overcame it has to do with the fact that he was a young relatively fit non-smoker that exhibited a better than average level of physical conditioning and strength. Because of this, the time that he spent affected by the disease and the general care that his girlfriend provided to him, as well as the address and white, bland foods, he was once again ready to return to his normal activities. Without any one of these factors, it is unlikely that Marcus would have improved and/or that would not have required further medical attention.This discussion highlights that  the reason behind the outcome being far worse in a potential outbreak within the community nursing home has to do with the fact that the individuals that are within the nursing home are ultimately there for one of two reasons; perha ps even both of these. As such, these individuals are invariably in a nursing home due to the fact they are either unable to take care of themselves due to old age and/or they are physically incapable of maintaining their own health/body functions.  Within such a weakened situation, the immune system and the overall strength of the body would be compromised; lending to a situation in which the mortality rate of this outbreak would likely be extraordinarily high.

The Unglamorous Interface of an iPad Research Paper

The Unglamorous Interface of an iPad - Research Paper Example For some, it’s a declaration of who they are and what they can afford, but for most, it’s merely coping to the dictates of the society. With this virtue, capitalists please consumers by delivering the sleekest, fastest, and newest innovation on devices almost every week pushing their limits far from what used to be impossible and pulling its realization to the now. Who does not drool with the sight of an iPad, or with the sleeked digital SLRs in the market, or the sleekest smart phone? Who would not want a lifeline device that can answer any query or do things for you with just a touch of your hand? Man’s means comes way out of hand sometimes in order to meet an unachievable goal so as the capitalist’s aim to manufacture more even if this equates to considerably creating environmental of humanitarian damages. These electronic devices do not end up on the shelves of a gadget store in a whisk on the capitalist’s wand for the consumers to buy it. It go es to a tedious process of conceptualizing, engineering, manufacturing, and marketing. And like in any organization, this process can be echoed as a pyramid with the product on the high end exposed to the world of consumers and the manufacturers at the bottom kept hidden from everyone’s awareness (Lacy, p.32). ... As it proved to be a cost saving method, the giants seek suppliers from low-wage high-labor countries in Asia (Kwok, 776). In the beginning, it was seen as a win-win situation where companies attain their production goal at a very low cost while the labor country receives employment and compensation to salvage their economy. Yet, as time goes, this gratification became one sided tilting the better end to the capitalists and leaving the laborers on the grim end. It is with everyone’s knowledge that manufacturing evolves chemicals and materials that are damaging to the health of the people and the environment. Policies and regulations have been made to control this situation. Unfortunately, not every company placed this on their priority list. Just like the incidence that occurred in one of the factories in Chengdu, China, where a twenty-two year old man, named Lai Xiaodong, died from an explosion while at work due to combustion of chemicals. It is the factory that polished thou sands of iPad cases every day. Even the world’s mightiest company such as Apple cannot come clean when it comes to ethical issues of their manufacturing scheme. As the demands for the latest recline so as their demand for these manufacturers on the other side of the world. And meeting these demands is parallel to long working hours for the laborers, poor compliance of policies, risk of negligence in monitoring safety precautions and even sorting to usage of cheaper more volatile chemicals to lower the production costs (Duhigg, par.9). Above are the images of industrial districts of China depicting its hazardous consequence to the environment and its people (Lu Guang). â€Å"Apple never cared about anything other than increasing product quality and decreasing production cost†¦

Use an example of your choice to discuss how corporate restructuring Essay

Use an example of your choice to discuss how corporate restructuring transformed market, productive and financial performance - Essay Example At such a point, the effectiveness of a company’s old structure (original structure) has reduced to an extent of not being able to cater for the output and the larger interests (which includes the future interests) of the company. Corporate restructuring is where a company restructures or changes one or several of its aspects. It has been defined as changes in ownership, changes in assets or even alliances in a bid to improve and increase the shareholders wealth, meet consumer demands among others (Aden, 2014). The restructuring may be in form of divisions and departments combinations, production focus laying back, asset restructuring, employee scale back among others (Arocena, Blasquez and Grifell, 2011). This work shall analyse on how corporate restructuring transformed the market, the productive and the financial performance of a named company. The named company (case study) shall be Caterpillar, a public limited company which survived a harsh economic climate, thanks to corporate restructuring. In the first part of the work, the company shall be introduced and its main competitors analysed. The market it operates on currently and on which it operated on in the early 80’s shall also be discussed. Thereafter, there shall be a discussion on how Caterpillar embraced and applied corporate restructuring and analysis on how successful this was. The main aims of restructuring include creating a decentralised approach, increasing the level of responsiveness and expanding the customer focus for matured markets. There are many businesses that have adopted corporate restructuring in order to maximize their profits and their chances of survival. Caterpillar, a public limited company is one such company that has a successful experience with the adoption of corporate restructuring (Vartan, 1987). It specialises in three operational segments which are power systems, construction

The developmental milestones of a toddler Essay Example for Free

The developmental milestones of a toddler Essay This is a case study presenting the developmental milestones of a three-year old American boy named Kevin (not his real name).   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Kevin was the first-born child of Sam and Joan. After a full term of nine months, his mother gave birth to him via normal delivery on the 4th of December in 2003. He weighed 7.7 lbs and was 21 inches in length. As an infant, he was healthy and breastfed by his mother who attended to his care full-time. His father, who is a real estate agent, also gave him proper care and attention. Despite his hectic work schedule, he made sure that he spent enough time with Kevin at night and on non-working days. Kevin took his first solid food at five months old but was still being breastfed by his mother. Occasionally, he would have stomach upsets that would result to loose bowel movement, though not severe. At six months old, he started to fixate on baby toys and other objects but still did not have object permanence. For his social progress, he would smile when cuddled and touched on the chin. Also at this stage, his sleeping time decreased from 16 hours to 13 hours, as he was awake most time of the day. For his developmental milestones, Kevin started to crawl at seven months old. Nearly a month after that, he spoke his first word (mama). He started walking when he was one year old. As months passed, he eventually learned to communicate with others using â€Å"baby talk† (more milk, want toy, where ball?, touch doggie). He also started showing resilience to strangers and visitors in the house. When he was nearly two years old, he had an accident in their backyard. He tried to climb a slide but fell. Fortunately, he only had bumps and bruises. His x-ray results did not show any bone fracture or dislocation. For his social development, Kevin started having playmates at two years old. His favorite toys were building blocks, ball, and toy cars. He was also fond of scribbling and would even ask for paper and crayons. It was also at this stage when he was constantly showing tantrums whenever he did not get what he wanted. He would cry, whine and throw himself on the floor. Sometimes he would also throw things and try to attack his playmates, parents or baby-sitter. Moreover, he frequently sought attention by being affectionate and impressing people through his baby antics (beautiful eyes, flying kiss, moonwalk). When he was two years and five months old, his mother decided to go back to work and get a baby-sitter to watch over him while they were out. At first they had difficulty adjusting to this set-up since Kevin would cry every time his mother left the house. It seemed that he was overly attached to his mother that he could not trust anyone other than his parents. This might be due to the principle of separation anxiety (Santrock, 2002). Eventually, he got used to this set-up and was able to establish a good relationship with his nanny. His toilet training began at this stage, though he was not yet able to urinate and/or defecate on his own. He would just tell his nanny that she needed to change his diaper. He was also taught how to eat and drink on his own despite spillages, which was typical for his age. Last December of 2006, Kevin turned three. At this point, he has been showing great progress in his physical, cognitive, and socio-emotional development. His parents are very caring and they make sure that they give Kevin the proper love and attention that he needs. References: Santrock, J.W. (2002). Life-Span Development 8th ed. New York: McGraw-Hill

Resource Planning At Hershey Foods Corporation

Resource Planning At Hershey Foods Corporation Enterprise resource planning (ERP) encompasses virtually every facet of information technology (IT); therefore, its implementation is vital to the overall effectiveness of an organizations IT processes. In 2008, the Hershey Foods Corporation was the focus of a study conducted from 1997-2002 during which time Hersheys attempt to implement ERP was a failure. In 1996, Hersheys moved to modernize its hardware and software from legacy systems to a client/server environment by April 1999. The software module implementation was to be outsourced to three software vendors (SAP, Manugistics, and Siebel); however complications delayed the projected switch to July 1999. To bypass the complications, Hershey chose Big Bang ERP implementation but that choice proved fruitless as retailers experienced problems with order fulfillment, processing and shipping. Hersheys warehouse contained sufficient inventory but retailers still received shipments late. During the third quarter of 1999, Hersheys revenu es dropped by 12%. The purpose of this study is to examine the past failure of Hersheys ERP implementation, while reviewing current information and data to determine the effectiveness of Hersheys efforts since 2002. Studying the circumstances that led to Hersheys ERP implementation failure will aid in illustrating the process of ERP implementation in large organizations with focus on the role management plays in ERP success or failure and how these factors can be avoided in the future. Contents Executive Summary 2 Contents 3 Terms of Reference 4 Literature Review 6 Evaluation of Alternatives 10 Recommendations 13 References 15 Terms of Reference Background In 1894, the Hershey Foods Corporation (Hershey) was founded by Milton Hershey as the Hershey Chocolate Company. Hersheys corporate headquarters is located in Hershey, Pennsylvania. Since its founding, Hershey has grown from a one-product company to a multi-billion dollar corporation with sales exceeding $1.41 billion during the first quarter of 2010 (Wahba 2010). After a tumultuous entry into the twenty-first century, Hershey is finally overcoming some of the obstacles that led to a significant decline in sales. Advertising spending was raised significantly during the first quarter of 2010 with plans to increase advertising spending up to 40% throughout the year. The company was one of many that experienced a decline during the global economic crisis but Hersheys strong leadership and conscious efforts to revamp its image has proven effective in boosting sales. Primary focus during 2010 has been on boosting sales for Hersheys Kisses, Kit at, and Twizzlers brands. Increased advertisi ng is predicted to put these products well above the 25-30% range previously forecast (Wahba 2010). Currently, about 85% of Hersheys sales are generated in the U.S., but it has failed to meet the desired outcome in international markets, putting Hershey behind its major competitor, Nestle. When Nestle began sales in emerging markets its sales rose by more than 10% (Wahba 2010). Problem Hershey has a long history of success and failure, mixed with both effective and poor leadership at the top management level. However, one of the companys most memorable failures is its initial attempt to implement ERP. At present, sales are rising amid a rocky economy but Hershey is still rebounding from the stigma of the failed ERP implementation. Reported sales are lowest among its competitors, indicating Hersheys need for improving its production strategies is of the utmost importance. Effective ERP implementation coupled with a strong top management team is one method of improving productivity and increasing sales -both domestic and abroad. Scope of Study By analyzing the past ERP implementation efforts, this study will illustrate how Hersheys production will benefit from an effective ERP solution. Information reviewed during the course of this study includes, but is not limited to, academic journals, corporate reports, past case studies pertaining to the Hershey Corporation, government resources, and print and online library sources. The information obtained during the course of this study aid in fostering an understanding of the relationship between the information system and the external environment, strategy, business processes, structure and culture, and information technology infrastructure of an organization. The outcome of the references reviewed will provide sufficient data to conduct an evaluation of the potential impact implementing ERP has on Hershey. Following the submission of this report, the reader will understand the importance of implementing ERP as a vital component of an organizations IT system, particularly for He rshey and its expanding needs amid the global marketplace. Literature Review When Hershey began planning to implement an enterprise resource planning (ERP) system, the companys top management was unaware of the potential pitfalls it would encounter. ERP systems are management information systems that incorporate and automate many of the practices linked to general operations and production of a company, including manufacturing, logistics, distribution, inventory, shipping, invoicing and accounting. An ERP system is integrated with a relational database system that, when implemented effectively, can improve the efficiency of the organizations business processes. However, the process involves extensive employee training and retraining and the development of modified or new work procedures. Due to the cross-functional and extensive nature of the ERP system, all functional departments must be involved in operations and productions. The benefit of an ERP system for Hershey is the systems effectiveness in improving and automating much of the processes linked to the supply chain while improving timelines for shipments. Hershey opted to implement SAP because of its reputation as a leader among IT solutions in the early 1990s. Hersheys initial attempt to implement SAP spanned over three years and was conducted during the companys peak periods. The implementation process was to be completed over a period of time to allow the company to continue production and sales; however, the complications that Hershey faced hindered its productivity and sales. The impact of such a drastic change during the peak sales period created a major setback resulting in a significant loss in profits and sales (Analyzing n.d.). The company maintained full compliance with the vendor during the implementation process. However, the problem stemmed from timing issues. Hersheys choice to implement the change during its peak period provided detrimental to production and sales and put the overall organization at risk. In retrospect, the companys primary errors were related to the timing of the planned implementation and the implications regarding workloads. Based on the companys sales history, Hersheys top management should have been aware of the risks implementing a major solution would have on the organizations processes. The impact was felt at all levels, particular during periods when confectionary products are in highest demand. The companys order processing systems were impacted the most. Retailers complained that orders were not received, were delayed or that the wrong products were received (Stedman 1999). The relationship between Hershey and its customers were bruised and trust was dwindling. The fiasco opened the door for competitors to step in and take up the slack Hershey left in the marketplace. As a result, Hersheys annual sales plummeted and the competitors annual sales soared. When implementing an ERP solution, the initial planning process is most important. Hersheys top management was aware of peak sales periods; therefore, the authorization to proceed with a drastic organization-wide change was the first error. The initial proposal for implementation should have raised red flags among the companys executives, but the plans moved forward and the result was devastating for the company, its customers and employees. The use of IT should yield results opposite of what was achieved at Hersheys. IT, particularly ERP systems, are designed to create barriers to competition, lower the costs of market entry, shorten timelines, speed cash flow, cut out intermediaries, build bridges, and keep the organization better informed than its competitors (Benson and Standing 2002). Technology, in the context of organizations similar to Hershey, can change production, business processes and organizations, including the potential to change and maximize the potential of social structures and interactions (Benson and Standing 2002). When contemplating IT changes the organizations management must pay close attention to the areas of the business that may be impacted by the change. Despite the belief that success in one area of business usually comes at the cost of another, this does not have to be true (Benson and Standing 2002). Understanding the organizations strengths and weaknesses aids in the planning process. Management will then be able to plan for potential obstacles and implement an alternative before complications put the organization at risk. Under the same premise, Hersheys decision to implement SAP was not the problem, poor management and ineffective planning was the companys major problem. Hersheys error was linked to ineffective restructuring of its business processes and the amendments needed to accommodate the companys production during the ERP implementation period. Furthermore, the company pushed to implement a process in 30 months when the typical implementation process averages about four year s. The rapid implementation attempt disrupted the companys normal functioning and created mass confusion and conflict at both an internal and external level. Since [Hersheys] attention was wholly diverted to ERP, it was not possible to rectify the uncertainties that emerged in the business as a result of ERP (Analyzing n.d.). The companys efforts, although limited, were unbalanced. Hershey found it difficult to focus on both the regular processes of conducting business and the ERP implementation. The result was a reduction in sales, irate customers, conflict among employees, and a growing reputation as a vendor that could not be trusted. The situation was worsened at the end of the 30 month period when Hershey realized the implementation was not effective because the ERP systems were not working in full capacity due to some final touches which were not done (Analyzing n.d.). The optimal solution for ERP implementation is to plan the process around an organizations peak periods. If Hershey had begun the implementation process during slow periods, the outcome would have been different. However, the impact of missing final touches would still be an issue. Again, the fault falls to the companys management team, who is ultimately responsible for ensuring that such major changes begin only when the company is least vulnerable. Implementing during slow market periods gives the company the time needed to make the change, to prepare its departments and respective employees for the change, and emerge stronger than before the change was made. Evaluation of Alternatives ERP is a complex process that requires stringent maneuvering and processing within the organization. Prior to beginning the ERP implementation, Hershey should have put more effort into ensuring the success of the process. Hershey should proceed with the process only after researching and planning to ensure that ample time and efforts needed to achieve successful change was possible. Instead, Hershey chose to proceed during a time when its sales were highest and risks were compounded. Most disturbing is that the company was no stranger to implementing IT processes. In the past, Hershey had implemented a CRM solution, so it should have been aware of the complications that can arise. The company simply chose the wrong time to implement the ERP solution, and timing is everything. In the contemporary business world, particular amid a time of rapidly advancing technology, Hersheys main focus should be on maintaining productivity. However, the use of ERP solutions is a must to meet the growing demands of the consumer. Customers want easy ordering options, fast order processing, and rapid order receipt. The ERP system is designed to improve these functions in businesses but for an effective implementation process that will yield the desired results, the company must carefully choose the time for the implementation process -even if that means dividing the process into stages. By segmenting the implementation process, Hershey would meet its objectives of a streamlined IT process while maintaining productive operations and retain satisfied customers. An ERP system can help increase a businesses efficiency, which increases customer satisfaction. Instead of focusing on independent departments for processing and meeting objectives, the ERP system streamlines the process from production to shipping and beyond. Prior to beginning the ERP implementation Hershey should have met with department heads who, in turn, would explain the upcoming processes including how the implementation process would impact production within the company. From there the employees would be knowledgeable in how to handle issues that could arise (e.g. order fulfillment issues, shipping, et al). Overall, the bottom line is to plan accordingly so that the ERP implementation process can be effectively achieved while the organizations regular processes are not negatively affected. Inadequate training is a common factor in ERP implementation failure. Hershey failed to train its employees on how to handle potential changes that would occur during the implementation process, while also preparing for training for the new system. All the way around, management failed. While pre-implementation research and planning is one alternative to effective implementation, the companys management team should have been more diligent in handling its responsibilities for the organization. Therefore, the company should have taken a closer look at its management team to determine where the error originated. The complications originated at the management level creating a domino effect where the companys individual departments were impacted and the customer was left in the cold. In a customer-driven market it is not the product or service that matters most; instead the greatest value rests in how the customer perceives their overall relationship with the company. It is the value factor. The management team should have been aware of the customers view; then it should have approached the implementation process accordingly to ensure the customers needs were not ignored. In retrospective, Hersheys management team should have known, prior to the ERP implementation, how the company would maintain customer satisfaction during the process. Both internal and external factors should have been better analyzed. Hershey failed to analyze the very components that achieve customer satisfaction. Management should have focused its change in a way that would not jeopardize its relationship with current customers, their use of the companys products, and their impression of Hersheys service. The information obtained during the pre-planning phase is more important than the overa ll projected change since this information is a guiding point for successful ERP implementation. Recommendations When Hershey decided to implement an ERP system, it failed to analyze the companys history of peak sales periods and plan the implementation process around the most productive periods. Instead, the company began implementation during its peak period which resulted in overload among its workforce nd complications within production and shipping that led to a significant loss of sales, a tarnished reputation, and a loss of trust among its customers. The decision to implement an ERP system was a good idea but the timing was wrong. Timing is everything, especially when the risks involve not only the organization and its employees but retaining customers. Furthermore, Hersheys management team failed to consider its supply chain management functions and the outcome was chaos within the internal and external processes associated with production, order fulfillment, and shipping. The onset of pre-planning begins with reviewing the companys current balance (Caruso 2007). When management has a v iew of what it takes to keep the organization productive, then the planning phase can begin. When accurate planning is achieved the risks to the organization are minimized. Studies reveal that one of the most common reasons the implementation of change results in failure is linked to unplanned or under planned phases of implementation. Planning is crucial for effective implementation of an ERP system. However, there is no universal single point of failure linked to unsuccessful ERP implementations. In the case of Hershey, however, the causes are directly linked to efforts that are easily remedied: inadequate training, corporate culture, timeline flexibility, and unrealistic expectations. Hershey has since worked hard to ensure the same mistakes are not repeated. Its current management team is more in tune to the needs of all the organizations stakeholders. Adequate training within Hershey has become paramount to all other functions. The companys management team realizes that inadequate training, particularly at the management level, is a leading cause of organizational failure. Now, the company focuses on how to do business differently, rather than training on new computer software. While training for the ERP system was a focus, it was not the predominant focus. Hershey learned the hard way that change had to be made internally before an ERP solution could be effective in streamlining its internal and external processes. Many ERP projects are bound to fail because employees are not trained to handle the factors that come with change. Timeline flexibility is imperative to success, as well. In its subsequent attempts to streamline operations, Hershey worked to ensure t hat the system was fully tested and ready for implementation to avoid negative consequences similar to those the company experienced in 2002.

A New Solution to Bring Back the Smile Essay -- Customer Service McDon

A New Solution to Bring Back the Smile Robert Liney is a divorced 34-year-old lawyer with four year old, a six year old, and an eight year old. Robert lives outside of Morristown, New Jersey and commutes an hour each way to his law firm. His law firm handles corporate mergers, and on average Robert works 60 to 70 hours a week. About two years ago, Robert and his wife, Marie, got divorced because of his busy schedule. On days when Bob gets custody of the kids, he does not have a lot of time to prepare dinner. McDonald’s fits well into his budget, is conveniently located on his way home from work, provides a great atmosphere for family dining, and, to top it all off, the kids love the Happy Meals. Robert and his children visited McDonald’s five to six times a month and spent around $18 dollars each visit. However, one day Robert and his children stopped in to McDonald’s before seeing the movie, Pokemon. First, the teenage cashier made them wait while he answered his cell phone and exchanged comments with the other workers. Then the cashier did not smile and warmly greet the family. He rushed through the order, placed it incorrectly, and undercharged him. Robert was happy to notice that he was undercharged, but then was completely disappointed to notice that he was given an incorrect amount of change back to make the meal an overcharged one. Due to this poor employee service, Robert and his family never come back to McDonald’s again. Robert and his family spent around a hundred dollars each month that McDonalds will now lose. What about all the other customers that this employee dealt with? How many other customers and how much money did the franchise lose from the rudeness of employees on that ni... ...several thousand dollars per unit in which McDonald’s will regain in a short period of time. In conclusion, the quality McDonald’s customer service is dropping and a new strategy is needed to bring a smile back onto customer faces. Customers such as Robert Liney should not have to face poor customer service at such a reputable restaurant chain as McDonald’s. By using technology as the intermediate between customers and employees, this will greatly enhance customer relations and lost profits. McDonald’s is the place that loves to see you smile. Works Cited Gibson, Richard. â€Å"McDonald’s Finds Angry Customers on Its Menu.† Wall Street Journal. 16 Jul. 2001 : A14 Reh, F. John. â€Å"Good Customer Service Is No Longer Enough. †About the Human Internet. 2001. http://management.about.com/library/weekly/aa042699.html.

Freak the Mighty and The Mighty compare and contrast

Freak the Mighty and The Mighty and both known by many. One is a book and the other is a movie based on the book. Although they can relate to each other this book and movie both are unique in their own ways. One similarity of these pieces of art is that the chapters match up. Max’s childlike chapter titles are very much incorporated in the movie. For example, chapter 6 of the book â€Å"Close Encounter of the Turd Kind† is narrated in the movie. In addition, Killer Kane comes to the down under just as expected after the chapter title â€Å" What Came Down the Chimney†.Also, when Grim gets a gun Max hears the wretchedly loud conversation his grandparents had that he is not supposed to hear, just like in the book. Furthermore, the tone set by Rodman Philbrick is undeniably there considering the execution of the suspenseful scenes, i. e. when Kevin starts choking on american chop suey and when Max is throwing things in frustration when he learns his father is on par ole. While these similarities show what these pieces have incommon Freak the Mighty and The Mighty still have differences that make them distinctive.Although the characters have the same names, I have got to say there appearance was definitely incorrect. In the book Max was said to be 7 feet tall, while Kevin was said to be 2 feet tall. In the movie Max was about 6 feet and Kevin was the height of an average 6th grader at Eldorado K-8 ( about 4†6’). Kevin was supposed to have blond hair and blue eyes ( the movie gave him brown eyes and brown hair) while Maxes appearance was not clear in the book. Additionally, in the book, Kevin and Max seemingly lived in suburbia while the movie gave the impression they lived in much more of a city.For example, the old testaments seemed much bigger and better-looking than described in the book ( broken toys and ragged and dirty children who seemed a little broken themselves). The minor problem in plot detail is a third difference. In t he movie, Kevin is apparently Max’s LD (learning disabled) reading tutor. In the book there is no mention of tutoring that went on between the boys in school. Without a doubt, Freak the Mighty and The Mighty remain comparable by their names and who the story was inspired or written by, but these pieces are individual works of art with varying traits.

Contrastive Linguistics Essay

The Language of the Stock Exchange – A Contrastive Analysis of the Lexis V clanku je podana analiza jezika borze s stalisca slovensko-angleske protistave. Izrazje (samostalniske zveze) obeh jezikov smo protistavili tako v strukturnem kot v semanticnem smislu, pri cemer se je razkrilo vec protistavnih znacilnosti, med drugim razlicni nacini ubeseditve istega pojma, terminoloske praznine in lazni prijatelji, slovensko borzno terminologijo pa zaznamujejo tudi angleske tujke. The article analyzes the language of the stock exchange from a Slovene-English contrastive viewpoint. The specialized lexis of the two languages was juxtaposed as to the structural and semantic differences of their respective terms and expressions (nominal phrases), revealing such contrastive phenomena as different conceptualizations, terminological gaps and false friends, while the Slovene stock exchange terminology is also characterized by English foreignisms. 1. Introduction James characterizes contrastive analysis (CA) as a hybrid linguistic discipline (1989: 4), since it is neither particularist nor generalist and is interested both in the immanent genius of a language and in the ways in which one language compares to other languages. CA does not strive to classify languages and is interested both in the differences and similarities between them. Having had strictly pedagogical implications at first, the theoretical foundations of CA were initially laid down by Robert Lado in his Linguistics Across Cultures (1957). Lado supported the conviction that if learners of a foreign language (L2) were made aware of the ways in which their mother tongue (L1) and L2 differed, this would facilitate foreign language learning. He went even further by claiming that the elements of L2 that are similar to the learners’ L1 will prove simple to learn, with those that are different being difficult. Lado was the first to suggest a systematic set of technical procedures for the contrastive study of languages; this included descriptions of languages and their comparisons as well as predictions of L2 learning difficulties. In its most ambitious phrasing, the Contrastive Analysis Hypothesis claimed to be able to predict all learners’ errors committed in using an L2. However, empirical studies conducted during the 1970s could not sustain this claim, making it clear that CA could only predict certain problematic areas for learners and some of the errors they are bound to make in their versions of L2 (James 1989: 145; my italics). All comparisons work on the basis of the assumption that the entities to be compared have certain things in common, and that any differences between them can be laid 154 Slovenski jezik – Slovene Linguistic Studies 7 (2009) against this common background. A CA thus always involves a common linguistic platform of reference, against which contrastive deviations are stated. This common platform is termed tertium comparationis (TC). Depending on the adopted TC, the same aspects of language may turn out be similar or different (Krzeszowski 1990: 16). In syntactic and lexical contrastive studies, the TC is often taken to be formal or semantic correspondence (ibid. ), chiefly in combination. Contrastive linguistics is not a unified field of study. The focus may be on general or on language specific features. The study may be theoretical (theoretical CA), without any immediate application, or it may be applied (applied CA), i. e. carried out for a specific purpose (Fisiak 1981: 2–3). Further, Gabrovsek (2005: 75–6) points out that contrastive work can be done at the levels of: phonology, graphology, lexicology, grammar, and textology. This is why any contrastive work must necessarily be limited in scope and thus always represent but a fragment of the overall contrastive landscape of a given pair of languages. Contrastive lexicology is the contrastive study of the vocabularies of two (or more) languages. It concerns itself with the transposition of lexical items from L1 to L2 and vice-versa, facing such difficulties as culture-bound vocabulary, interlingual mismatches, lexical gaps, etc (ibid.: 62–194). Equivalence between lexical items in two languages can be complete (trgovalni dan—trading day), partial (organizirani trg—regulated market), or nil (TUVL; insider). There are two possible scenarios in transposing such problematic lexical units: either the L2 equivalent is completely unknown to us (what, for example, is narocilo z razponom in odstranitvijo neizvrsene kolicine in English), which might lead to considerable confusion or even a communication breakdown, or we are uncertain as to the correct collocate (is SLO organizator trga EN market organizer or market operator?), which may make our L2 unidiomatic, but does not impede successful communication. Depending on the pattern and environment it appears in, a lexical item will typically benefit from additional semantic shading imposed by the surrounding lexical elements (semantic tailoring), and often consequently receive different counterparts in L2. Note the pairs svezenj—bundle, avkcija—auction, majhen—small, but (in a stock exchange context) svezenj—block (trade), prekinitvena avkcija—volatility interruption, mali vlagatelj—retail investor. The collocator and the base, even if lexically predictable in L2, may appear in the opposite order in the two languages (zascita vlagateljev—investor protection) or be joined by a different preposition (trgovati z obveznicami—trade in bonds). Another collocation-related problem, interlingually, is false friends: (borzna) kotacija ? (market) quotation. Lexicological CA also deals with divergent polysemy (vzdrzevalec likvidnosti—liquidity provider or market maker). This article focuses on lexical contrastive studies and chooses as its TC the English and Slovene lexis of the language of the stock exchange, juggling between formal and semantic equivalence of the terms and expressions in the two languages. Taking the Slovene-English contrastive viewpoint, we focused on nominal phrases (NPs), which have been examined as to the types of (non-)correspondence, on the structural as well as semantic level. The aim of this article has not been a discussion of terminology as such; terminology is here solely the object of contrastive lexicology, which lies at the core of this paper. B. Bozinovski, The Language of the Stock Exchange †¦ 155 As to the structural aspect, a divergence had been expected of the following kind: SLO simple NP complex NP EN simple NP complex NP complex NP simple NP On the semantic level, an occasional discrepancy had been anticipated between the meaning of a particular NP in isolation and that in a particular context (in different word combinations, most notably collocations), semantic tailoring being a feature of not only LGP (language for general purposes) but also LSP (language for special purposes). We had thus expected NPs to have different translation equivalents in different environments. English being the lingua franca of the financial world, we had also expected to find the English terms to be of a much more specialized nature than their Slovene counterparts. 2. Materials and methods The present CA entailed a lexicological comparison of pairs of (original) Slovene and (translated) English texts used in the regular operations of the Ljubljana Stock Exchange Inc. (LJSE). In juxtaposing texts with the same TC—the common platform for comparison was stock exchange terminology—pairs of lexemes (terms and expressions) relevant to our discussion were singled out and compared as to their structural and semantic properties. Given that we dealt with an LSP, our primary concern was with NPs, which constitute the main part of any LSP. The analysis was based on the thus-compiled database of over 1,000 pairs of headwords, of which only a selection appears in this article. 3. Analysis 3. 1. SLO: simple NP > avkcija CVS delnica delnicar dividenda glavnica indeks izdaja nalozba narocilo obveznica posel EN: simple NP auction NAV share shareholder dividend principal index issue investment order bond trade 156 Slovenski jezik – Slovene Linguistic Studies 7 (2009) 3. 1. SLO: simple NP > promet sklad svezenj trg EN: simple NP (continued) turnover fund block market The logical English equivalents for promet, posel and izdaja in general language or in isolation would be, for example, traffic, business and betrayal, with bond, auction and share being translated into Slovene as vez, drazba and delez, but in a stock exchange context the respective equivalents are LSP specific and uncontroversial. Svezenj and trg prove more problematic. The former can either be translated as block (of securities) or as block trade, since it can refer to a particular quantity of securities or to a trade executed in that particular quantity of securities—both svezenj in Slovene. Trg can either be rendered as single-word market or compound order book, depending on the context. In the case of the securities market in general, trg is equivalent to the EN market, but in combination with the trading platform and orders placed in the trading system, trg will normally be order book (narocila na trgu—orders sitting in the order book). SLO avkcija and dividenda are LSP terms of an international character, having been adopted from English (which their English counterparts clearly show), while the others are Slovene words. While avkcija, trg, izdaja, and narocilo are polysemous words of widespread use in Slovene LGP and only obtain specialized meanings when used in proper stock exchange contexts, dividenda, sklad, delnica, glavnica, nalozba and obveznica are financial terms of an inherently terminological nature. In English, the situation is slightly different; only dividend and investment belong to the financial field, while all other words have a wide range of uses and senses. In their full versions, CVS (cista vrednost sredstev) and NAV (net asset value) are structurally divergent but lexically transparent. 3. 2. SLO: simple NP borza dokapitalizacija kupnina lot nezaupnica pooblascenec pripojitev Statut VEP > EN: complex NP [N+N] [N+N] [N+N] [Adj+N] [N+PP] [N+N] [N+PP] [N+PP] [N+PP] stock exchange capital increase purchase price trading unit vote of no confidence proxy holder merger by acquisition Articles of Association NAV per unit Except for dokapitalizacija—capital increase, kupnina—purchase price, pripojitev—merger by acquisition and nezaupnica—vote of no confidence, which share at least some lexical elements, the remaining pairs are lexically completely divergent. B. Bozinovski, The Language of the Stock Exchange †¦ 157 3. 3. SLO: simple NP > EN: simple NP [N+N] [Adj+NP] [Adj+N] [N+PP] [Adj+NP] [N+N] [Adj+N] [N+PP] [N+N] [Adj+N] [Adj+N] unit futures point delisting derivative tick LJSE quote (n. ) ticket ticker security enota premozenja financne terminske pogodbe indeksna tocka izkljucitev iz (borznega) trga izvedeni financni instrument korak kotacije Ljubljanska borza narocilo za nakup in prodajo stevilka posla trgovalna koda vrednostni papir The lexically completely divergent Ljubljanska borza and LJSE deserve a word of mention. While having an adjectival premodifier (denoting the place) and a simple nominal head (denoting the institution) in Slovene, English lexicalizes the concept differently in several respects. First, Ljubljana in Ljubljana Stock Exchange is a nominal premodifier, as opposed to the adjective ljubljanski. Further, the simple borza has a complex equivalent in English, namely the compound stock exchange, the two terms being lexically miles apart (the word borza itself has nothing in common with stocks or securities or exchanges of any kind). What is more, all this is packaged into an English acronym of the stock exchange name, thus LJSE, which is common practice with English names of stock exchanges (New York Stock Exchange—NYSE, London Stock Exchange—LSE, National Association of Securities Dealers Automated Quotations— NASDAQ), while less so in Slovene. The Slovene name of the exchange either appears in its full form or is shortened to borza. English abbreviations and acronyms are a common feature of stock exchange terminology and have penetrated Slovene in their original forms in large numbers. Examples include ETF (exchange traded fund—indeksni vzajemni sklad), SI (systematic internalizer—sistematicni internalizator), MiFID (Markets in Financial Instruments Directive—direktiva o trgu financnih instrumentov), OTC (over-the-counter, which has no lexicalized equivalent in Slovene), FOK (fill-or-kill—narocilo z razponom in odstranitvijo neizvrsene kolicine). In these cases, there are no equivalent Slovene abbreviations (although descriptive equivalents do exist), since the English ones are recognized and actively used by all Slovene speakers of the LSP in question. Note also the difference between the highly idiomatic fill-or-kill as opposed to the descriptive Slovene expression. 3. 4. 3. 4. 1. SLO: complex NP > EN: complex NP Structurally and lexically transparent equivalents auction trading brokerage house avkcijsko trgovanje borznoposredniska hisa 158 Slovenski jezik – Slovene Linguistic Studies 7 (2009) 3. 4. 1. Structurally and lexically transparent equivalents (continued) electronic trading financial instrument institutional investor public company trading day elektronsko trgovanje financni instrument institucionalni vlagatelj javna druzba trgovalni dan  Note further instances of the so-called international words in both columns, underlining the international character of the terminology: avkcijsko—auction, financni—financial, instrument—instrument, elektronsko—electronic, institucionalni—institutional. Although we do have a native Slovene word for institution, which is ustanova, there is no semantically corresponding Slovene adjective (ustanovni in this case would be a false friend); this is why the Slovene term employs the international premodifier. 3. 4. 2. Structurally parallel, lexically unpredictable equivalents official market regulated market retail investor semi-official market average price initial public offering bullish market registered shares private bonds government bonds open-end fund borzna kotacija organizirani trg mali vlagatelj prosti trg enotni tecaj prva javna prodaja bikovski trend imenske delnice podjetniske obveznice javne obveznice vzajemni sklad Here we have NPs of the uniform structure Adj+N on both sides, and what is problematic is the lexical choices—either of premodifiers or of heads. In place of official one would expect a fusion with the words stock exchange (judging from borzen). Kotacija does have a direct translation, namely quotation, but the English term refers to the highest bid or lowest ask price available on a security at any given time and thus the two are false friends. The very specific Slovene term borzna kotacija, which stands for the part of the LJSE regulated market intended for companies complying with strict reporting and disclosure obligations, only has one equivalent in English, namely official market. For organizirani trg, many would expect organized market, which, however, is a mistranslation. Instinctively, and not being familiar with stock exchange terminology, a translator might also be tempted to translate the seemingly unproblematic mali vlagatelj as something like small investor, which would of course result in implications divorced from the stock exchange context. If looked at in isolation, prost, enoten, prodaja, trend, imenski, kotacija, podjetniski, javen would all get translations different from those in the above right B. Bozinovski, The Language of the Stock Exchange †¦ 159 column. Here they appear in typical multi-word lexical items from the language of the stock exchange, and demand specific equivalents. The above pairs are also illustrative of the different conceptualizations in the two languages. Take podjetniske obveznice—they are not *entrepreneurial bonds or *company bonds, but rather private bonds. What is more, although one might expect, in view of the logic of things, the opposite of private to be public bonds, English nevertheless calls them government bonds (while Slovene does see them as public, thus javne obveznice). 3. 4. 3. Structurally divergent, lexically parallel equivalents 3. 4. 3. a. Opposite order of lexemes or different parts of speech delnica [prostega trga] druzba za upravljanje [dvotirni] sistem [vodenja druzb] indeks [blue-chip delnic] indeks [celotnega trga] indeks obveznic posel s sveznjem struktura prometa vzdrzevalec likvidnosti N+[NP] N+PP [Adj]+N+ [NP] N+[NP] N+[NP] N+N N+PP N+N N+N [semi-official market] share management company [two-tier management] system blue-chip index [total market] index bond index block trade turnover structure liquidity provider [NP]+N N+N [NP+N]+ N N+N [NP]+N N+N N+N N+N N+N In phrases with indices, Slovene has plural nominal postmodifiers in the genitive case (indeks obveznic), while English will typically lexicalize the same concept though a singular nominal premodifier in the nominative (bond index). The delnice part of the respective Slovene NPs (indeks blue-chip delnic, indeks delnic investicijskih skladov) has a nil realization in English (blue-chip index, investment fund index). 3. 4. 3. b. Structurally different premodifiers avkcijsko trgovanje celotna trzna kapitalizacija delniska druzba osnovni kapital presezni certifikat tekoci podatki trzna kapitalizacija trzno narocilo cenovno obcutljiva informacija dobro pouceni vlagatelj auction trading total market capitalization joint-stock company share capital outperformance certificate real-time data market capitalization market order price-sensitive information well-informed investor 160 Slovenski jezik – Slovene Linguistic Studies 7 (2009) Slovene uses adjectival premodifiers where English has nominal ones, except in the last two cases, which both share the structure of a nominal head premodified by an adjective and even share the same head, but employ different premodifiers; the Slovene premodifier has the head obcutljiv premodified by the adverb cenovno, whereas in English the same information is lexicalized through a compound composed of a noun (price) and an adjective (sensitive). 3. 4. 3. c. Structurally different postmodifiers delnice investicijskih skladov predcasni odkup delnic stopnja donosa trzna kapitalizacija obveznic shares of investment funds early redemption of shares rate of return market cap of bonds The recurrent pattern here is a nominal postmodifier in the genitive case in Slovene as opposed to a postmodifying prepositional phrase (PP)—typically the of-phrase, as shown by all of the above examples—in English. Both groups of postmodifiers have the same function (namely that of expressing genitival relations), irrespective of their having different constructions; Slovene being a synthetic language, its expression of the genitive involves attaching genitival suffixes on postmodifying nouns, with English, an analytic language, having the same content expressed through an independent morpheme (the preposition of). Postmodifiers may be PPs on both sides, but with different heads: sredstva v upravljanju trgovanje z obveznicami sistematicni internalizator za delnice 3. 4. 4. N+PP N+PP NP+PP assets under management N+PP trading in bonds N+PP systematic internalizer in NP+PP shares Structurally and lexically divergent equivalents EN BTS trading system GBD brokerage house market maker TUVL segment 3. 4. 4. a. Explanatory equivalent BTS GBD TUVL segment The acronym TUVL stands for Trg uradnih vzdrzevalcev likvidnosti, BTS for borzni trgovalni sistem and GBD for Gorenjska borznoposredniska hisa, none of which have English counterparts. There are other Slovene acronyms and abbreviations that do not have direct English equivalents and need explanatory phrases when being translated into English, e. g. , CTG (celotna globina trga), ATVP (Agencija za trg vrednostnih paprijev), KDD (Centralna klirinsko depotna druzba), DZU (druzba za upravljanje), ID (investicijska druzba), PID (pooblascena investicijska druzba), and others. Disregarding the names of institutions, only a few are left, a situation B. Bozinovski, The Language of the Stock Exchange †¦ 161 somewhat different from that in English, which abounds in abbreviated forms. These, in turn, do typically not require explanatory Slovene phrases to be understood by Slovenes, being used world-wide by the speakers of the LSP in question. Slovene abbreviations, on the other hand, are not self-explanatory or known to English speakers, and therefore do need explanations. Cf. 3. 3. 3. 4. 4. b. Non-transparent equivalents Below are a few groups of recurrent constructions that appear in the two languages as equivalent: SLO: NP [NP(nomin. )+NP(gen. )] [Kodeks upravljanja] [javnih delniskih druzb] SLO: NP [N(nomin. )+N(gen. )] nihanje cen obrat kapitalizacije placilo kuponov revizija indeksov SLO: NP [N(nomin. )+NP(gen. )] indeks [delnic borznega in prostega trga] EN: NP [NP+N] [Corporate Governance] Code EN: NP [N+N] price volatility turnover rate coupon payment index review EN: NP [NP+N] [total market] index Note the contrastively problematic EN index review (similarly index performance, index structure, index constituents, etc), where the premodifying noun index is always in the singular, both if referring to a single index (SLO revizija indeksa) or several (SLO revizija indeksov). This calls for an attentive English-Slovene translator who must infer from context. SLO: NP [N(nomin. )+NP(gen. )] datum [zapadlosti zadnjega kupona] SLO: NP [N(nomin. )+N (gen. )] institut izstopa institut iztisnitve oddelitev druzbe SLO: NP [NP+PP] [prvi trgovalni dan] [brez upravicenja do dividende] [izvedeni financni instrumenti] [na blago] SLO: NP [NP/N+PP] [borzni clan] [z oddaljenim dostopom] narocilo [s preudarkom] EN: NP [N+N] coupon date EN: NP [cpd] sell-out squeeze-out spin-off EN: NP [N+N] ex-dividend date commodity derivatives EN: NP [Adj+N] remote member discretionary order. 162 Slovenski jezik – Slovene Linguistic Studies 7 (2009) SLO: NP [N+PP] delnice [v borzni kotaciji] 3. 4. 4. b. Non-transparent equivalents (continued) SLO: NP [N+PP] poslovanje [s sveznji] prenosi [med racuni istega imetnika] trgovanje [z vrednostnimi papirji] trgovanje [na podlagi notranjih informacij] SLO: NP [N+PP] potrdilo o pravnomocnosti SLO: NP [Adj+N] (borzni) clan kosovne delnice presecni datum EN: NP [NP+N] [official market] shares. EN: NP [N+N] block trading inter-accounts management securities trading insider dealing EN: NP [N(gen. )+NP] court’s [finality seal] EN: NP [N/NP+N] member (firm) [no par value] shares record date The above lists of corresponding construction patterns are far from exhaustive. We have merely made an attempt at classifying selected NPs both according to their structural (congruent or divergent) and lexical (transparent or oblique) properties, trying to show that there are innumerable patterns of correspondence between the two languages. 4.  Discussion and conclusion The present analysis has mapped out a complex web of interlingual correspondences between Slovene and English terms and expressions from the language of the stock exchange. The CA focused on the form of the identified pairs of NPs as well as on problems of meaning, discovering such interlingual difficulties as divergent polysemy, false friends, conceptual and lexical gaps. This was expected, since languages are known to differ in an unsystematic and largely unpredictable manner as to expressing the same content. We will now present our findings under the following three headings: a. Translation correspondence. Lexical (terminological) gaps The analysis has shown the prevalent type of translation correspondence between the identified Slovene and English NPs to be partial correspondence; it involves structural non-congruence, often coupled with complexities of meaning. Example pairs include: pooblascenec—proxy holder, trgovalna koda—ticker, posel s sveznjem—block trade, trzna kapitalizacija—market capitalization, promet clanov—turnover by member firms, nominalne delnice—par value shares, etc. There were also instances of complete correspondence, where the English and Slovene NPs were both structurally and semantically congruent, but these were a minority. Examples include: promet—turnover, trgovalni dan—trading day. B. Bozinovski, The Language of the Stock Exchange †¦ 163 Examples of nil correspondence between English and Slovene NPs have revealed lexical (or, rather terminological) gaps in the languages of the stock exchange, where certain concepts exist or have been lexicalized in one language but not in the other. English terms for which there are no ready-made Slovene equivalents include insider, blue-chip, OTC, and many others. Our expectations regarding the three types of translation equivalence to be found between lexical items in two languages, as laid down in the Introduction, have thus been confirmed. English is the lingua franca of business and finance, and this is also reflected (interlingually) in the language of the stock exchange. New concepts and terms for them are born in the Anglophone West, while the rest of the world adopts the English terminology and mostly just localizes it to a certain extent, often failing to come up with language-specific equivalent terms. As a result, Slovene stock exchange terminology abounds in carbon copies of English terms (blue-chip indeks, sistematicni internalizator, insajder), directly modelled upon their English counterparts, and descriptive expressions (izvedeni financni instrument, trgovanje na podlagi notranjih informacij, prvi trgovalni dan brez upravicenja do dividende). Especially tricky are virtually untranslatable English terms that have no lexical equivalent in Slovene at all (mistrade, market maker, OTC, hedge fund). Problematic as to their Slovene equivalents are also the idiom-like pumping dumping, painting the tape, wash sales, scalping, etc. When there are no ready-made translation equivalents (lexical, conceptual gaps), there are at least three options—a) to make up a new Slovene term, b) to opt for a descriptive equivalent, or c) to try to find an approximate â€Å"functional† equivalent. Descriptive expressions (posli, pri katerih je sprememba lastnistva financnih instrumentov zgolj navidezna for wash sales) can be long-winded. Functional equivalents (narocilo s skrito kolicino is a type of order very similar to iceberg order, but not identical to iceberg) can be inaccurate. The third option, to invent a new term, lies outside the scope of translation work, since in LSP it is not customary for translators to decide on preferred terms for concepts. These are for experts to agree on (sometimes in cooperation with linguists). Once they become used and catch on, the translator may recognize them as legitimate equivalents, based on expert advice, but not before, lest they become ghost words, i. e. terms that exist on paper, but not in actual use. There are also some Slovene terms with no mirror-image English equivalents, which is a general feature of any terminology, not just the language of the stock exchange. TUVL, BTS, and the like are limited to terms for concepts unique to the Slovene stock exchange trading platform. We can therefore speak of conceptual gaps. They are translated into English through explanatory equivalents, e. g. , market maker TUVL segment. b. Interference. Collocations, false friends and the like It is a known fact that language learners (translators as non-native speakers of an L2 included) are inclined to draw analogies with their L1 when constructing lexical units in L2. When the two languages overlap in their formal, semantic or grammatical features, this leads to positive transfer and correct L2 lexical items (terms and expressions). Slovene terms such as mednarodni razpis, nalozba, dividenda, obveznica and 164. Slovenski jezik – Slovene Linguistic Studies 7 (2009) their English translations are parallel in all of the above respects and thus unproblematic in translational and contrastive terms. If the formal, semantic or grammatical features of L1 and L2, however, do not overlap, or if they do but only partially (when meanings agree, but not forms, or the other way around), then constructing L2 terms on the analogy with L1 ones leads to lexical errors and we speak of interference or negative transfer from L1. This is a possibility with the bulk of Slovene stock exchange terms and expressions. Take aplikacija, for instance. A translator unfamiliar with the terminology of the field might be tempted to translate it as application, which, to my knowledge, has no specialized meaning in this field, the correct equivalent being the unpredictable cross trade. Or the much debated organizirani trg, which is not organized in English, but rather regulated market. Consider also the temptation of word-for-word rendering of korak kotacije, borzna kotacija, mali vlagatelj, prekinitvena avkcija and many others. Negative transfer works in the opposite direction as well, when it is known as backward interference; under the influence of L2, learners can be often tempted to remodel their L1 lexical items to match those in L2. Even if backward interference be at work, expressions such as financial markets, legal framework, investors would not cause any problems, since they are structurally and semantically parallel to their Slovene equivalents. It gets tricky when the Slovene term for open-end fund is not odprti sklad, but rather vzajemni sklad, and especially with terms such as quote. Quote has the attractive verbal equivalent kotirati that does exist and is widely used but with a different meaning, the correct rendering being narocilo za nakup in prodajo. The cross-linguistic floors are also slippery with terms such as regulated market, which appears unproblematic at first sight; in fact, however, regulirani trg is an expression that does not exist in the Slovene language of the stock exchange, where the same concept has been lexicalized through another lexeme—organizirani trg. Further, there are pairs of NPs that look deceptively similar, yet differ in important details, which we had anticipated in the Introduction to this article. For instance, trade in shares is trgovati z delnicami, assets under management is sredstva v upravljanju, right on a security is pravica iz vrednostnega papirja, bond (sg. ) index is indeks obveznic (pl. ), dobicek (sg. ) na delnico is earnings (pl. ) per share, and capital markets can either be kapitalski trg (sg. ) or kapitalski trgi (pl. ). Grammatical collocations are a notoriously difficult interlingual area, causing problems especially in encoding, and so are the singular—plural distinctions. When translating slovenski kapitalski trg into English, most would opt for the only reasonable choice, namely Slovene capital market. Yet the English prefer the plural expression, thus Slovene capital markets. Due to semantic tailoring, a lexical item may be endowed with a multitude of semantic shadings and consequently receive different counterparts in the other language. Trg, for instance, is not always market in the language of the stock exchange. Borzni and prosti trg are exchange and semi-official market, while for narocila na trgu we have orders sitting in the order book. Similarly, the adjective organizirani can either be organized (trading) or regulated (market) in English, while vzdrzevalec likvidnosti can either be liquidity provider or market maker, depending on the context. B. Bozinovski, The Language of the Stock Exchange †¦ 165 Conversely, the EN share is not always delez in Slovene; note the pairs share—delnica, official market share—delnica na borznem trgu, market share—trzni delez, share capital—osnovni kapital. This confirms our expectations worded in the Introduction on the possible discrepancy between translation equivalents of lexemes in isolation (aplikacija—application, organiziran—organized) and those of the same lexemes in a particular context (aplikacija—cross trade, organizirani trg—regulated market). It is one of the goals of contrastive lexicology to point out such controversial pairs of collocations and thus sustain the claim that translation equivalence is largely collocation-dependent. The analysis has also singled out Slovene and English NPs that look similar (have a similar form), but differ, at least partly, in meaning (the so-called false friends). One of them usually belongs to the LSP of the stock exchange, while the other has LGP applications divorced from the stock exchange context: quote (n. )—kotirati (v.), institutional inve.