The Management Roles of a Principal Essay Example | Topics and Well Written Essays - 500 words

The Management Roles of a Principal - Essay Example From this paper, it is clear that courses offered once, as well as the availability of teachers, influence the schedule’s development. Together with the principal, the counselor does the actual work, remembers not to schedule courses at the same time, and considers to accommodate the schedule of teachers. In making adjustments, the principal and the counselor make an initial run through to determine arising conflicts. The district provides a computer program called TEAMS to help manage the schedule. The guidance office, as well as the principal, makes the final approval. As the paper outlines budget management is also part of the role of an administrator. However, the central office is the one responsible for allocating the budget, as well as in providing assistance. In preparing the budget, the goal is to look at the needs of the campus and try not to exceed in its allocation. Budget management process begins towards the end of the year and extends into the Summer months since the school does not have the actual budget until the start of the next school year. Campuses receive their budget allocations after September 1, which includes general operating funds, special education, title funds, and compensatory education funds, as well as the travel and staff development. The Site-Based Decision Making (SBDM) committee, which is composed of teachers, parents, and community leaders helps the principal in making sure that the whole management process is thoroughly made. Allocating the funds is the last step of the process, and the budget is then finalized before September 1st.

Shakespeare Explication Essay Example | Topics and Well Written Essays - 750 words

Shakespeare Explication - Essay Example Their love can not be accepted by society, because the family has to approve it first. In this sense love is impossible and tragic. When lovers meet they can experience only "momentany" and momentary passions. Their encounters are short and painful, because they can not fully dedicate each other to the moment of pleasure. They are afraid that they might be seen or caught. That is why their union is "Swift as a shadow, short as any dream". Love is the primary idea around which the play is built up and throughout the scenes we audience is presented with different forms of love. Love is arbitrary and irrational. Compassion and kindness can also inflame passions. Where does this passage stand in the meaning of the whole scene 1 from Act 1. Lysander and Hermia are in love. However, her father Egeus is planning to marry his daughter to Demetrius and is very angry that she refuses. During scene 1 Lysander is trying to convince the public that he deserves Hermia and is equal to Demetrious. What is more he has true feelings to Hermia, whereas Demetrious had a recent affair with Helena. Regardless of his, Helena's tormented by love too, because Demetrious is indifferent to her. And in powerless attempt to win his love, Helena tells him about Hermia's and Demetrious plan to escape from Athens. Unfortunately, the more Helena loves Demetrious, the more he despises her. Love is unexplainable, because there is no reason why Demetrious should not love Helena. If Hermia chooses Lysander she will be punished, just like he describes "War, death, or sickness did lay siege to" true love. At the end of the scene Lysander tries to explain to Hermia that all lovers reach to such moment in their lives, and that this is the only possible course for the true love they have for each other. In Lysander's monologue he is prolific in metaphors to express the nature of love - it is "swift" it is fleeting like the "shadow" it is evanescent as a dream, it is quick as a flash of lighting in a midsummer night. The brevity of love described by Lysander forms the overall feeling that love can not be everlasting when lovers hide their emotions. The course of true love never runs smoothly. Class differences and family bonds "did lay siege to it". Even when love is mutual and is based on sympathy, it often meets the family disapproval. The memories and flashes of love "unfolds" and displays where is the heaven, blissful state and where is the bitter reality. The lovers can not be left alone, they have to be punished for their disobedience. From the background knowledge, love and law are opposed in the play - whether to obey the law and marry the one that your family prefers, or to flee and die for the one you love. Love and law are juxtaposed throughout the play, as well as the motifs of choice, freedom and social values. After the brevity of experiencing their

Use of Moral Hazards in Workplaces

Use of Moral Hazards in Workplaces The use of the term moral hazard has a history of more than 200 years. As Dembe and Boden (2000) showed that, since the 1600s, the term moral hazard is used in the discussion about the possibility of incentives for people under insurance to be less careful to protect themselves or insured goods and the tendency of fraud for obtaining financial benefits from insurance. It first appeared in the economic literature in the 1960s in terms of decision-making under uncertainty. Arrow (1963) and Pauly (1968) are two frequently quoted papers. Arrow (1963) considered moral hazard as one of the problems in the insurance market and pointed out that the assumption that insured events are taken place out of the control of insured individual is not really true in the real life and, therefore, there is not complete insurance market if the uncertainty exits. Pauly (1968) also explained that the moral hazard problem can be analyzed by orthodox economic tools in different kinds of insurance. In the economic literature nowadays, moral hazard is studied in various fields. Dembe and Boden (2000) concluded that there are two major categories of researches on moral hazard. One is originated from the early literature about insurance market; the other is about economic decision-making, such as finance, banking, accounting and management. In the current financial crisis, moral hazard is more frequently discussed and blamed as one of the causes of the banking problem. Summers (2007) claimed that the problem of moral hazard is overrated and warned people be aware of moral hazard fundamentalism. Dowd (2009) disagreed and believed that the problem is underrated and should be taken seriously. Dowd discussed the policy failures in the US financial industry in regards of moral hazard. Dow (2010) analysed the concept of moral hazard in relation to the financial crisis and concluded that there is immoral behaviour in financial market but the problem should go further than conventional understanding. The rest of the essay is organised as follows. In the second section, the definitions and nature of moral hazard are discussed. In section three, examples will be provided and analysed. I will also describe the ways to overcome these problems in the fourth section. 2. What is Moral Hazard? Moral hazard is defined in various ways in different aspects. The earliest explanation is from the perspective of insurance sector. Marshall (1976) provided the definition as any misallocation of resources which results when risks are insured with normal insurance contracts and only with such contracts. Briefly, moral hazard as the risky behaviour an insured individual may act because of the insurance cover. There are two kinds of moral hazard in insurance field. One of them is ex ante moral hazard, which is the risky behaviour itself. In this situation, the insured will act risky, which results in more payment by the insurer for the negative consequence. The other one is ex post moral hazard. This is the type of behaviour that people change their reaction of risk when insurance is provided or enlarged to cover their cost. Moral hazard can be also explained in terms of agent-principle problem. Dowd (2009) defined moral hazard as the potential behaviour that one party who is in the behalf of another party puts his own interest first. This definition is often used in management area. It is considered as the consequence of asymmetric information. Michael Parkin (2010) explained this as follows: In some markets, either the buyers or the sellers- usually the sellers- are better informed about the value of the item being traded than the person on the other side of the market. Information about the value of the item being traded that is possessed by only buyers or sellers is called private information. And a market in which the buyers or sellers have private information has asymmetric information. Asymmetric information causes two problems: adverse selection and moral hazard. Moral hazard is the tendency for people with private information, after entering into an agreement, to use that information for their own benefit and at the cost of the less-informed party. 3. Examples of Moral Hazard There are many cases about the moral hazard problem in insurance market. An example provided by Stiglitz (1997) is about the auto insurance in New Jersey. In the 1980s, New Jersey was considered to have the worst problem on auto insurance. It had no upper limit on the medical costs that could be claimed from any accident and the state even provided auto insurance, Joint Underwriting Authority (JUA), to drivers who are too risky to get insurance from private companies at a similar rate for the less risky drivers. The state suffered a big loss by its insurance policy. The traffic accident rate and car theft rate were much higher than most of other states. Drivers took more risky behaviour when they are insured against medical treatments and car theft. The JUA had accumulated a $3 billion deficit at the end of the 1980s and extra taxed were needed to cover the loss which brought big problem to the government. In finance and banking industry, moral hazard also can be found in various cases. Too big to fail banks speculative investment banking activities are guaranteed by the government, because their failure will influent the whole economy. The belief that they will always be rescued from collapse causes these big banks to take greater risks in their lending policies in search of higher returns. Another example of moral hazard problem in banking industry is that bankers encourage borrowing which is not in the customers best interest. In many business, bankers act as both lenders and financial advisors for their customers because of their financial expertise. Cases such as bankers provide advises in their own best interest rather than customers can be found. In many banks incentive systems, bankers can get bonus by lending more to customers, but will get no or an insignificant amount of penalties when the lending is not beneficial to customers or the debt cannot be collected. This would pro bably result in customers or banks losses which has little impact on the bankers individual benefits. Similar examples can be found in management area. Managers who act on the behalf of shareholders to operate the companies would take risky and short-term oriented strategies which could maximise their own benefits at the cost of shareholders. Managers whose payment is related to the companys profit would possibly carry out operation policy which would increase the profit within his employment period but might not create shareholders wealthy in the long run; some managers who hold the companys stock option might try to boom the stock price by fraud. These are all considered as moral hazard problems which come from the agency problem and the asymmetric information. The most famous example is probably the fall of Enron in which not only the governance and incentive of management were involved, auditing, fund management and financial analysts also played a part which can be considered immoral in this case. 4. Some Further Discussion In this section, after taking examples of moral hazard problem from different aspects, what they have in common are discussed. The question why moral hazard is considered as a problem will be analysed and possible solutions to these examples are also be provided. (1) Common features and negative consequence of moral hazard First of all, at least two parties are involved. In the examples of insurance, the two parties are the insurer (insurance companies or the state) and the insured party. In the banking examples, the problem is between banks and the state or bankers and customers. And in terms of management, it comes to agent (managers) and principle (shareholders). Secondly, one partys interest is guaranteed, which encourages taking higher risk. The loss of the insured party can be partly covered by the insurance no matter how risky his behaviour is. Similar feature is showed in the cases of banking and management, although they do have some risk management system to limit the risk within certain extent. Additionally, the highly risky behaviour of one party is difficult to or cannot be controlled by the other party. An auto insurance provider is impossible to control every insured drivers driving speed. Not all customers of banks and shareholders of companies have a clear view of what their agent (bankers and managers) are doing because of lacking private information and professional knowledge. Whats more, these moral hazard problems result in the cost of others and could lead to misallocation of social resources. The case of New Jersey auto insurance in the 1980s, the fall of Enron in 2001 and the recent banking crisis all caused huge social costs and brought economy problems. (2) Can these problems be overcome? Dowd (2009) suggested that measures that limit and eliminate moral hazard should be welcomed to reduce excessive risk-taking practice; and those create moral hazard should be avoid. Generally, a risk management system should be built. For example, insurance companies insure ones property up to a certain percentage of its replacement cost rather than fully cover it. Therefore, even if a big part of the risk is taken over, the insured party will still be worse off if bad thing happened. And this will encourage them to reduce their risk-taking behaviour. In Pauly (1968), deductibles and coinsurance are suggested to reduce the moral hazard. Deductible is an insurance in which an amount should be paid by the insured before the insurer will cover any expenses. Coinsurance is a sharing of risk between insurer and insured. Both methods aim to splitting and spreading the risk among the two or more parties involved in moral hazard problem. In Dowd (2009), he argued that the state support should be removed from banking and banks should survive on their own strength in order to remove the moral hazard. However, this would not be possible in practice. More essentially, the size of too big to fail banks should be cut down or controlled at a limited level. Moreover, better performance measurement and incentive system should be introduced. Credit rating by bankers should be carried out more effectively and bankers should bear the risk of their behaviour and get penalties for bad debt at an amount that is high enough to warn them to avoid the excessive risk. In terms of management, long-term performance measurement should be taken from the shareholders perspective; regulations that require more transparent disclosure are also highly required. Conclusion In this essay, definition of moral hazard and examples from insurance, banking and management perspectives are discussed. The commons of these examples include the parties involved in the moral hazard, the uncontrollable risky behaviour of one party whose benefits are guaranteed and the social costs which the problem brings. Risk measurement and control system should be built to reduce moral hazard problem. Solutions such as risk-sharing insurance, significant penalties of bad debt and long-term performance measurement are suggested.

Images and Imagery Helps Us To Understand Macbeth :: Macbeth essays

Macbeth: Imagery Helps Us To Understand Its Themes and Characters      Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   For me to answer this essay question I must first find out what exactly imagery is,   to do this I used an Oxford dictionary and this is the definition; Imagery n. Images collectively;   statuary,   carving;   mental images collectively;   ornate figurative illustration,   esp.   as used by author for particular effect.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   An image is a picture that the author places in your head by graphic descriptions about a subject.   This image is designed to help the reader understand the plot or mood or to simply add life to a story. Shakespeare uses imagery a lot in his books and this imagery also symbolises a person or a theme in the story.      Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   In the first line of act one scene two Duncan is asking his Lords who the bloody man stood before him is.   He says that judging by his wounded state he could tell them of the latest news of the battle.   This opening sentence sets the scene for the whole of the play, a bloody war. There is more blood when MacBeth and his lady have killed Duncan,   the blood symbolises guilt so Lady MacBeth smears blood onto the guards and then cleans herself of the blood on her.      Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   "A little water clears us of this deed," meaning that if there is no blood on them they can not be guilty.      Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Banqueting,   eating and food symbolise a happy and unsuspecting atmosphere.   When you are in a crowd you feel safe and not threatened.   If you are with a lot of people when there is a crime you have a very strong alibi.   When Macbeth was at his banquet he made a toast to Banquo who was not present,   MacBeth knew exactly why Banquo was not present because it was he who sent out two murderers to kill him;   the play is full of such lies and stories to cover up crimes so much that the criminals can not handle the guilt.      Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The whole play is a reflection of chaos and order.   The population are all in an order and set rank but at the top of the hierarchy where the order matters there is a state of chaos and this is filtered down through the hierarchy to everyone in the play.   The people are fighting for order to be restored and justice done.      Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Throughout the book there are a lot of dark and light images.   The witches are always in the dark because the darkness represents a fear full unknown. It is in the dark where crimes occur   because they can go

Desperate Times Call for Desperate Measures an Essay on the Rise of Adolf Hitler Essay

When Adolf Hitler and his party of National Socialists were elected into power, Germany was in quite a rut. The stock market had crashed, it was the middle of the great depression, and Germany was still in uproar over the Treaty of Versailles. The public was desperate to find someone to take them out of this terrible place, and because they were willing to listen to the outlandish ideas that Nazis had, what they got was far from that. Adolf Hitler was a phenomenal public speaker and he was very firm in his own beliefs. He managed to pin every German fault on someone else, creating a sense of power in the German public, and thus why he was elected. The times were so desperate, Germans turned to a mentally unstable man for help. Hitler became leader because the living conditions were so bad in Germany that he was the only guy it made sense to turn to, which is a problem in itself. The Treaty of Versailles is a big reason why Germany was having such bad troubles. The main terms of the Treaty stated that : â€Å"- Germany to give up Alsace-Lorraine to france – The Rhineland to be demilitarized and placed under Allied occupation – Germany to lose West Prussia and Posen to Poland – Danzig to be made an international city – Germany to surrender all its overseas colonies – Germany to be deprived of its warships and aircraft and to have its army limited to 100 000 † (Lynch 2004: 4) The German Public felt that the terms of the treaty were unfair and were humiliated by it. The Nazi party felt the same, and when Germans discovered this they felt more comfortable siding with them. It was because of these people and the overwhelming sense of humiliation in Germany that the Nazi government (when elected) violated the treaty in many different ways, and ultimately caused WW2. The times that these people lived in would have been difficult for any country to handle, not just Hitler and the Nazis and Germany. The economy in Germany was terrible after the first war. Not only were they already in debt for the money they used to finance the failure of a war that they had, but now because of the war guilt clause they had another $5 billion debt to pay off. Instead of paying out of their own pocket, they decided to begin printing more money until they could wax off their debts. However this did not help the economy, but hindered it instead. The more money Germany printed out, the less it became worth as a currency, creating mass inflation. This put Germany in an even worse economic situation, and the worse that situation got, the more popular the Nazi party became. The party took advantage of the economic struggles in germany, and the better the situation got, the less people felt the need to side with the Nazis. In May of 1924 the Nazi party had 32 seats and 6.6 percent of the vote in Germany. In December of 1924, these numbers dropped to 14 seats and 3 percent of the vote, and worsened in Ma y of 1928, at 12 seats and 2.6 percent of the vote. However, in the beginning of the 1930’s (Lynch 2004: 10), the economy steadily got worse and worse, and the Nazi party gained more recognition and was finally elected. The times had become so rough that the mentally unstable Hitler became a beacon of hope. At the end of the day, Hitler became leader of Germany because of economic instability, and because the public hated the Treaty of Versailles. The times were extremely difficult and due to the Nazi’s extreme views on how to fix Germany’s problems (and the fact that they only had 2 opposing parties), they were elected into the Reichstag. So what does this mean? It means that the times were what made the people turn to Hitler, not Hitler just flat out being an awesome guy.

Competitiveness of Philippines in global map Essay

0.5% of world-wide GDP share implies Philippines is really an insignificant player in world economy in terms of economic output, and 95 millions population, about 1.5% of ~7 billion world population, means current productivity level is only one third of world average. This is a typical characteristic of developing Asian countries, i.e., high population but low economic production output. However, even if only comparing with average of developing Asian countries, including China, India, Indonesia, Malaysia, Pakistan, Singapore, South Korea, Sri Lanka, Taiwan, Thailand, Vietnam, the growth of Philippines’ GDP per capita is still significantly lagging behind in the past 20 years, and the gap is continuously widen since 2006. Philippines is at the stage of transitioning from factor driven economy to efficiency driven economy. What is promising for Philippines is that the global ranking of competitiveness among 144 countries is improving for the last three year, 85 – 75 – 65, and indices â€Å"Macroeconomic environment†, â€Å"Market size† are even among the top 40. The indices show â€Å"Labor market efficiency†, â€Å"Infrastructure†, â€Å"Health and primary education†, â€Å"Institution† and â€Å"Innovation† are area lagging behind. From the survey data of â€Å"The most problematic factors for doing business† in Philippines show government corruption, bureaucracy and policy instability are the most problematic issues businessmen are facing, other than inadequate infrastructure such as road, stable supply of electricity etc. I. Trade and Foreign Direct Investment in the Philippines Historically, the Philippines have been an important centre for commerce for centuries for its important location in south east Asia. Since 1980s, the Philippines have opened their economy to foreign markets, and established a network of free trade agreements with several countries. Some Philippines’ Import and Export Indicators and Statistics are list below: – Total value of exports: US$50.72 billion – Primary exports – commodities: semiconductors and electronic products, transport equipment, garments, copper products, petroleum products, coconut oil, fruits – Primary exports partners: US (17.6 percent of total exports), Japan (16.2 percent), Netherlands (9.8 percent), Hong Kong (8.6 percent), China (7.7 percent), Germany (6.5 percent), Singapore (6.2 percent), South Korea (4.8 percent) – Total value of imports: US$59.9 billion – Primary imports – commodities: electronic products, mineral fuels, machinery and transport equipment, iron and steel, textile fabrics, grains, chemicals, plastic – Primary imports partners: Japan (12.5 percent of total imports), US (12 percent), China (8.8 percent), Singapore (8.7 percent), South Korea (7.9 percent), Taiwan (7.1 percent), Thailand (5.7 percent) The United States is one of the Philippines top trading partners. In 2010, according to US Department of Commerce data, trade between the Philippines and US amounts to US$15.4 billion. US is also the Philippines largest foreign investor, with foreign direct investment close to US$6 billion at the end of 2009. As of 21st century, the country is member in several international trade organizations including the APEC, ASEAN and WTO, under the new Aquino administration, the government plans to open up the country to more foreign investment in industries such as business processing operations, mining and tourism. However, this move may be hindered by restrictions such a prohibition of foreign ownership of land and public utilities. Also foreign investment was also impact by the financial crisis in 2008-2009 period, historical foreign investment data, breakdown by industry and country are listed below: Net inflows of foreign direct investments (FDI) to the Philippines for the first two months of 2012 were $850 million, three times higher than the $335 million during the same period in 2011, showing a strong recovery of the foreign investment in Philippines. II. Basic Education System The former basic education system of the Philippines is composed of: 6 years of elementary education starting at the age of 6 or 7, and 4 years of high school education starting at the age of 12 or 13. In this system, high school education is not compulsory. A formal public education system structure is show below: Participation rate for elementary school in 2009 is 89.43%, go up to 89.89% in 2010. As for secondary school, 2009 is 59.86%, go up to 61.26% in 2010. For Kindergarten, 1.65 million children enrolled in 2010, participation rate of 75.72%, grow to 2.04 million, participation rate of 91.67%, in 2011. These numbers are not impressive even compared to Asian developing countries. As the country need to improve overall productivity, higher quality human resource is a must pre-requisite, more resource allocation to education is in top priority list of Philippines government. Since June 4, 2012, Department of Education started to implement the new K-12 basic educational system, which includes the new curricula for all schools including one year of kindergarten(for 5 years old), 6 years of primary education, 4 years of junior high school and 2 years of senior high school. In this system, basic education is now compulsory. Program implementation in public schools is being done in phases starting SY 2012–2013. Grade 1 entrants in SY 2012–2013 are the first batch to fully undergo the program, and current 1st year Junior High School students (or Grade 7) are the first to undergo the enhanced secondary education program. First cohort of K to 12 grade 6 and Grade 12 will graduate in 2018. III. Population and Workforce Population – 103,775,002 (July 2011 est.) Age group – 0-14 years: 34.6% (male 17,999,279/female 17,285,040) 15-64 years: 61.1% (male 31,103,967/female 31,097,203) 65 years and over: 4.3% (male 1,876,805/female2,471,644) (2011 est.) Population growth rate – 1.873% (2011 est.) Birth rate – 24.98 births/1,000 population (2011 est.) Death rate – 4.98 deaths/1,000 population (July 2011 est.) Urbanization – urban population: 49% of total population (2010) Major cities – population – MANILA (capital) 11.449 million Relatively young population, due to high birth rate, is one of the key force that push Philippines economic growth. This means sufficient young labor force supply to industries and also a big consumer market demand for young people. It is estimated that between 9.5 million to 12.5 million Filipinos work or reside abroad, these Overseas Filipino Workers, or OFWs, constitute 11% of the total population. In 2012, the Bangko Sentral ng Pilipinas (BSP), the central bank of the Philippines, expects official remittances from OFWs coursed through banks and agents to grow 5% over 2011 to US$21 billion, but official remittances are only a fraction of all remittances. Remittances by unofficial, including illegal, channels are estimated by to be 30 to 40% higher than the official BSP figure. OFW remittances represent 13.5% of the country’s GDP, the largest in proportion to the domestic economy. Philippines is considered having a highly skilled labor force, proficiency in English, and a constant stream of college-educated graduates entering the workforce. This attracts many foreign companies to set up operation here. Take one of the fastest growing industries in the country, Call center, as example, Call centers began in the Philippines as plain providers of email response and managing services, these have industrial capabilities for almost all types of customer relations, ranging from travel services, technical support, education, customer care, financial services, and online business-to-customer support, online business-to-business support. Due to its less expensive operational and labor costs, highly skilled labor force, the Philippines is overtaking India as the largest call center hub in the world. Reference 1. World Economic Forum. 2012. Global Competitiveness Report_2012-2013. [ONLINE] Available at: http://www.weforum.org/reports. [Accessed 25 November 12]. 2. Economy Watch. 2012. Philippines Trade, Exports and Imports. [ONLINE] Available at: http://www.economywatch.com/world_economy/philippines/export-import.html. [Accessed 25 November 12]. 3. Department of Trade and Industry, Philippines. 2012. Total Approved Foreign Direct Investments 1996-2009. [ONLINE] Available at: http://www.dti.gov.ph/dti/index.php?p=3. [Accessed 25 November 12]. 4. Slideshare. 2012. The State of Basic education. [ONLINE] Available at: http://www.slideshare.net/arangkadaph/state-of-education-in-the-philippines-2012. [Accessed 26 November 12]. 5. Department of Education, Philippines. 2012. The K to 12 Basic Education Program. [ONLINE] Available at: http://www.deped.gov.ph/default.asp. [Accessed 26 November 12]. 6. World Bank, Human Development Department, 2010. â€Å"Philippines Skills Report, Skills for Labor Market in the Philippines†, Report No. 50096-PH, March 2010. 7. Youtube video: Population in the Philippines, 2012. [Accessed 26 November 12]. Available at: http://www.youtube.com/watch?v=YatkDHzahWw&feature=relmfu. Filipinos Working abroad, 2012. [Accessed 26 November 12]. Available at: http://www.youtube.com/watch?v=At1OVpefZus&feature=relmfu. World Call Center Capital, 2012. [Accessed 26 November 12]. Available at: http://www.youtube.com/watch?feature=endscreen&v=kFBgauGCOEQ&NR=1,