Int Fin

Sample Midterm #1 Questions 1. Which of the following does not constitute a form of direct foreign investment? a. Franchising b. International trade c. Joint ventures d. Acquisitions of existing operations e. Establishment of new foreign subsidiaries 2. Which of the following theories identifies specialization as a reason for international business? a. theory of comparative advantage. b. imperfect markets theory. c. product cycle theory. d. none of the above 3. Agency costs faced by multinational corporations (MNCs) may be larger than those faced by purely domestic firms because a.Monitoring of managers located in foreign countries is more difficult. b. Foreign subsidiary managers raised in different cultures may not follow uniform goals. c. MNCs are relatively large. d. All of the above e. A and B only 4. Which of the following industries would most likely take advantage of lower costs in some less developed foreign countries? a. assembly line production. b. specialized professional services. c. nuclear missile planning. d. planning for more sophisticated computer technology. 5. The North American Free Trade Agreement (NAFTA) increased restrictions on: a. rade between Canada and Mexico. b. trade between Canada and the U. S. c. direct foreign investment in Mexico by U. S. firms. d. none of the above. 6. Which of the following is mentioned in the text as a possible means by which the government may attempt to improve its balance of trade position (increase its exports or reduce its imports). a. It could attempt to reduce its home currency's value. b. The government could require firms to engage in outsourcing. c. The government could require that its local firms pursue outsourcing. d. All of the above are mentioned. . If a country's government imposes a tariff on imported goods, that country's current account balance will likely ____ (assuming no retaliation by other governments). a. decrease b. increase c. remain unaffected d. either A or C are possible 8. Assu me that a bank's bid rate on Swiss francs is $. 45 and its ask rate is $. 47. Its bid-ask percentage spread is: a. about 4. 44%. b. about 4. 26%. c. about 4. 03%. d. about 4. 17%. 9. If a U. S. firm desires to avoid the risk from exchange rate fluctuations, and it is receiving 100,000 in 90 days, it could: a. btain a 90-day forward purchase contract on euros. b. obtain a 90-day forward sale contract on euros. c. purchase euros 90 days from now at the spot rate. d. sell euros 90 days from now at the spot rate. 10. LIBOR is: a. the interest rate commonly charged for loans between banks. b. the average inflation rate in European countries. c. the maximum loan rate ceiling on loans in the international money market. d. the maximum deposit rate ceiling on deposits in the international money market. e. the maximum interest rate offered on bonds that are issued in London. 11. Eurobonds: a. an be issued only by European firms. b. can be sold only to European investors. c. A and B d. none of the above 12. A Japanese yen is worth $. 0080, and a Fijian dollar (F$) is worth $. 5900. What is the value of the yen in Fijian dollars (i. e. , how many Fijian dollars do you need to buy a yen)? a. 73. 75. b. 125. c. 1. 69. d. 0. 014. e. none of the above 13. A quotation representing the value of a foreign currency in dollars is referred to as a(n) ____ quotation; a quotation representing the number of units of a foreign currency per dollar is referred to as a(n) ____ quotation. . direct; indirect b. indirect; direct c. direct; direct d. indirect; indirect e. cannot be answered without more information 14. The value of the Australian dollar (A$) today is $0. 73. Yesterday, the value of the Australian dollar was $0. 69. The Australian dollar ____ by ____%. a. depreciated; 5. 80 b. depreciated; 4. 00 c. appreciated; 5. 80 d. appreciated; 4. 00 15. Baylor Bank believes the New Zealand dollar will appreciate over the next five days from $. 48 to $. 50. The following annual interest r ates apply: Currency Dollars New Zealand dollar (NZ$) Lending Rate 7. 10% . 80% Borrowing Rate 7. 50% 7. 25% Baylor Bank has the capacity to borrow either NZ$10 million or $5 million. If Baylor Bank's forecast is correct, what will its dollar profit be from speculation over the five-day period (assuming it does not use any of its existing consumer deposits to capitalize on its expectations)? a. $521,325. b. $500,520. c. $104,262. d. $413,419. e. $208,044. 16. If inflation increases substantially in Australia while U. S. inflation remains unchanged, this is expected to place ____ pressure on the value of the Australian dollar with respect to the U. S. ollar. a. upward b. downward c. either upward or downward (depending on the degree of the increase in Australian inflation) d. none of the above; there will be no impact 17. The one-year forward rate of the British pound is quoted at $1. 60, and the spot rate of the British pound is quoted at $1. 63. The forward ____ is ____ percent. a. discount; 1. 9 b. discount; 1. 8 c. premium; 1. 9 d. premium; 1. 8 18. If your firm expects the euro to substantially depreciate, it could speculate by ____ euro call options or ____ euros forward in the forward exchange market. a. selling; selling . selling; purchasing c. purchasing; purchasing d. purchasing; selling 19. Assume that a speculator purchases a put option on British pounds (with a strike price of $1. 50) for $. 05 per unit. A pound option represents 31,250 units. Assume that at the time of the purchase, the spot rate of the pound is $1. 51 and continually rises to $1. 62 by the expiration date. The highest net profit possible for the speculator based on the information above is: a. $1,562. 50. b. ?$1,562. 50. c. ?$1,250. 00. d. ?$625. 00. 20. You purchase a call option on pounds for a premium of $. 3 per unit, with an exercise price of $1. 64; the option will not be exercised until the expiration date, if at all. If the spot rate on the expiration date is $1. 65, your net profit per unit is: a. ?$. 03. b. ?$. 02. c. ?$. 01. d. $. 02. e. none of the above 21. A U. S. corporation has purchased currency call options to hedge a 70,000 pound payable. The premium is $. 02 and the exercise price of the option is $. 50. If the spot rate at the time of maturity is $. 65, what is the total amount paid by the corporation if it acts rationally? a. $33,600. b. $46,900. c. $44,100. d. $36,400. 22.Which of the following is not true regarding the Mexican peso crisis? a. Mexico encouraged firms and consumers to buy an excessive amount of imports because the peso was stronger than it should have been. b. Many speculators based in the U. S. speculated on the potential decline in the peso by investing their funds in Mexico. c. In December of 1994, the central bank of Mexico allowed the peso to float freely. d. The central bank of Mexico increased interest rates after the peso declined in value in order to prevent investors from withdrawing their investments in Mexi co's debt securities. e. All of the above are true. Int Fin Sample Midterm #1 Questions 1. Which of the following does not constitute a form of direct foreign investment? a. Franchising b. International trade c. Joint ventures d. Acquisitions of existing operations e. Establishment of new foreign subsidiaries 2. Which of the following theories identifies specialization as a reason for international business? a. theory of comparative advantage. b. imperfect markets theory. c. product cycle theory. d. none of the above 3. Agency costs faced by multinational corporations (MNCs) may be larger than those faced by purely domestic firms because a.Monitoring of managers located in foreign countries is more difficult. b. Foreign subsidiary managers raised in different cultures may not follow uniform goals. c. MNCs are relatively large. d. All of the above e. A and B only 4. Which of the following industries would most likely take advantage of lower costs in some less developed foreign countries? a. assembly line production. b. specialized professional services. c. nuclear missile planning. d. planning for more sophisticated computer technology. 5. The North American Free Trade Agreement (NAFTA) increased restrictions on: a. rade between Canada and Mexico. b. trade between Canada and the U. S. c. direct foreign investment in Mexico by U. S. firms. d. none of the above. 6. Which of the following is mentioned in the text as a possible means by which the government may attempt to improve its balance of trade position (increase its exports or reduce its imports). a. It could attempt to reduce its home currency's value. b. The government could require firms to engage in outsourcing. c. The government could require that its local firms pursue outsourcing. d. All of the above are mentioned. . If a country's government imposes a tariff on imported goods, that country's current account balance will likely ____ (assuming no retaliation by other governments). a. decrease b. increase c. remain unaffected d. either A or C are possible 8. Assu me that a bank's bid rate on Swiss francs is $. 45 and its ask rate is $. 47. Its bid-ask percentage spread is: a. about 4. 44%. b. about 4. 26%. c. about 4. 03%. d. about 4. 17%. 9. If a U. S. firm desires to avoid the risk from exchange rate fluctuations, and it is receiving 100,000 in 90 days, it could: a. btain a 90-day forward purchase contract on euros. b. obtain a 90-day forward sale contract on euros. c. purchase euros 90 days from now at the spot rate. d. sell euros 90 days from now at the spot rate. 10. LIBOR is: a. the interest rate commonly charged for loans between banks. b. the average inflation rate in European countries. c. the maximum loan rate ceiling on loans in the international money market. d. the maximum deposit rate ceiling on deposits in the international money market. e. the maximum interest rate offered on bonds that are issued in London. 11. Eurobonds: a. an be issued only by European firms. b. can be sold only to European investors. c. A and B d. none of the above 12. A Japanese yen is worth $. 0080, and a Fijian dollar (F$) is worth $. 5900. What is the value of the yen in Fijian dollars (i. e. , how many Fijian dollars do you need to buy a yen)? a. 73. 75. b. 125. c. 1. 69. d. 0. 014. e. none of the above 13. A quotation representing the value of a foreign currency in dollars is referred to as a(n) ____ quotation; a quotation representing the number of units of a foreign currency per dollar is referred to as a(n) ____ quotation. . direct; indirect b. indirect; direct c. direct; direct d. indirect; indirect e. cannot be answered without more information 14. The value of the Australian dollar (A$) today is $0. 73. Yesterday, the value of the Australian dollar was $0. 69. The Australian dollar ____ by ____%. a. depreciated; 5. 80 b. depreciated; 4. 00 c. appreciated; 5. 80 d. appreciated; 4. 00 15. Baylor Bank believes the New Zealand dollar will appreciate over the next five days from $. 48 to $. 50. The following annual interest r ates apply: Currency Dollars New Zealand dollar (NZ$) Lending Rate 7. 10% . 80% Borrowing Rate 7. 50% 7. 25% Baylor Bank has the capacity to borrow either NZ$10 million or $5 million. If Baylor Bank's forecast is correct, what will its dollar profit be from speculation over the five-day period (assuming it does not use any of its existing consumer deposits to capitalize on its expectations)? a. $521,325. b. $500,520. c. $104,262. d. $413,419. e. $208,044. 16. If inflation increases substantially in Australia while U. S. inflation remains unchanged, this is expected to place ____ pressure on the value of the Australian dollar with respect to the U. S. ollar. a. upward b. downward c. either upward or downward (depending on the degree of the increase in Australian inflation) d. none of the above; there will be no impact 17. The one-year forward rate of the British pound is quoted at $1. 60, and the spot rate of the British pound is quoted at $1. 63. The forward ____ is ____ percent. a. discount; 1. 9 b. discount; 1. 8 c. premium; 1. 9 d. premium; 1. 8 18. If your firm expects the euro to substantially depreciate, it could speculate by ____ euro call options or ____ euros forward in the forward exchange market. a. selling; selling . selling; purchasing c. purchasing; purchasing d. purchasing; selling 19. Assume that a speculator purchases a put option on British pounds (with a strike price of $1. 50) for $. 05 per unit. A pound option represents 31,250 units. Assume that at the time of the purchase, the spot rate of the pound is $1. 51 and continually rises to $1. 62 by the expiration date. The highest net profit possible for the speculator based on the information above is: a. $1,562. 50. b. ?$1,562. 50. c. ?$1,250. 00. d. ?$625. 00. 20. You purchase a call option on pounds for a premium of $. 3 per unit, with an exercise price of $1. 64; the option will not be exercised until the expiration date, if at all. If the spot rate on the expiration date is $1. 65, your net profit per unit is: a. ?$. 03. b. ?$. 02. c. ?$. 01. d. $. 02. e. none of the above 21. A U. S. corporation has purchased currency call options to hedge a 70,000 pound payable. The premium is $. 02 and the exercise price of the option is $. 50. If the spot rate at the time of maturity is $. 65, what is the total amount paid by the corporation if it acts rationally? a. $33,600. b. $46,900. c. $44,100. d. $36,400. 22.Which of the following is not true regarding the Mexican peso crisis? a. Mexico encouraged firms and consumers to buy an excessive amount of imports because the peso was stronger than it should have been. b. Many speculators based in the U. S. speculated on the potential decline in the peso by investing their funds in Mexico. c. In December of 1994, the central bank of Mexico allowed the peso to float freely. d. The central bank of Mexico increased interest rates after the peso declined in value in order to prevent investors from withdrawing their investments in Mexi co's debt securities. e. All of the above are true.

African Kingdoms and Empires

African Kingdoms and Empires During 400 AD, West Africa witnessed the rise and fall of the indigenous medieval empires of ancient Ghana, medieval Mali, and Songhai. Many other states and kingdoms arose during this time but Ghana, Mali and Songhai achieved the status of fully-fledged, functioning and long-living conquest states and expansionist empires. These empires regulated the Trans-Saharan trade by offering protection for trade caravans as well as taxing slaves, gold, firearms, textiles and salt.Ghana reached its height by 1200 AD and was ruled by the Serahule people which eventually broke apart by in the 13th century. The Mali Empire was a Mandinka territory but also took on Ghana’s territory and extended into the 13th century. At the peak of the empire, Mali covered an area over 24,000 sq. km. Songhai succeeded Mali in the 14th century and grew to be the largest land empire in tropical Africa. Throughout the presentation I will cover each Empire in grave detail.Ghana may have existed as early as the 5th century, however, by the 8th century it was known as â€Å"The Land of Gold. † In 1068 Ghana was the largest, wealthiest, and most powerful state in West Africa. The empire was situated in the vast Savannah area between the Senegal and Niger Rivers with its authority extending from the frontiers of Futa Toro to the Western banks of the Niger, and from the Mandinka area in the south to beyond the fringes of the desert in the north. Ghanaweb) The Serahule were the founding people of â€Å"The Land of Gold,† who established their capital at Kumbi Saleh, which at that time was the leading trading centre of the Western Sudan and the focus of all trade with a systematic form of taxation. The Serahule formed themselves into a strong trading state which spread its power over many neighboring people and in the process became an empire. With the introduction of the camel during the Trans-Saharan trade, Ghana derived power and wealth from gold an d increased the quality of goods transported.As stated earlier, the Soninke people also sold slaves, salt and copper in exchange for textiles, beads and finished goods. (Ghanaweb) According to Ghanaweb, â€Å"The wealth of ancient Ghana is mythically explained in the tale of bids, the black snake. This snake demanded an annual sacrifice in return for guaranteeing prosperity in the Kingdom, therefore each year a virgin was offered up for sacrifice, until one year, the fiance’ (Mamadou Sarolle) of the intended victim rescued her. Feeling cheated of his sacrifice, Bida took his revenge on the region, a terrible drought took a hold of Ghana and gold mining began to decline.There is evidence found by archaeologists that confirms elements of the story, showing that until the 12th century, sheep cows and even goats were abundant in the region. † Traders took the route from Maghreb to Ghana starting in Tahert, North Africa through Sjilmasa, Southern Morocco. The trail led sout h running parallel with the coast, then south-east through Awsaghust and ending in Kumbi Saleh. Through their travels the traders brought the Islamic community to Kumbi Saleh but the Islam’s managed to remain a separate community a distance away from the King’s palace. Ghanaweb) McKay wrote, â€Å"The city of Ghana consists of two towns lying on a plain, one of which is inhabited by Muslims and is large, possessing twelve mosques- one of which is congregational mosque for Friday prayer; each has its imam, its muezzin and paid reciters of the Quran. The town possesses a large number of jurisconsults and learned me,† (McKay, pg 279) Ghana was originally known as Wagadou (Ouagadou, Aoukar) by its rulers, but was changed into the general use, â€Å"Ghana† because one of the king’s titles â€Å"Ghana† meant war chief. Each succeeding king kept the title Ghana but went by their own name.The kings were in charge of organizing the trade and keeping good relations with the Saharan traders, as well as acting as senior religious leader and representative on earth of the founding ancestors of the Serahule people. To increase the wealth of Ghana, the kings were able to make lesser kings or chiefs obey their laws and pay them taxes. This in turn gave the kings of Ghana more power and could command the services of many descent lines. They were able to raise big armies and employ larger numbers of messengers and other servants. (Ghanaweb)The International trade was causing the empire continuous growth so the Serahule were inventing new methods of governing themselves by raising money to pay for a government and producing wealth. They decided the central authority would need to be a king that would rule over many lesser authorities or governments. Since Serahule had already occupied the lands to the north of the upper waters of Niger, their towns and trading settlements became the middlemen between the Berber and Arab traders of the no rth and the gold and ivory producers of the south. This position made Ghana strong and prosperous and gave its rulers glory and power. Accessgambia) The empire included many arrears of people who were not Serahule and therefore had different religious loyalties to their Gods other than the king. In order to ensure the continued allegiance of the conquered states, the kings of Ghana insisted on the son of each vassal king being sent to their court. Both provincial governors of Serahule areas and tributary rulers of the conquered peoples had the duties of loyalty to the king, provisions of annual tribute, and the contribution of bands of warriors to the imperial army when they were required for active service.In return for their loyalty, the king provided protection against external enemies. However, by 1240 Ghana was no more. There are many reasons for Ghana’s decline and fall, starting with the royal treasury placing a monopoly on the export of gold. The gold industry was the fame of what Ghana rested on because it was the king’s largest source of income. Secondly, the way the empire was organized. At its peak, Ghana was made up of many states and people and lacked political and cultural unity which the kings failed to achieve.The different ethnic groups such as the Soninke, Susu, Serer, Berber and Tuclor each had its own language and cultures owed allegiance to the king. Conquered states such as Futa Toro, Silla and Diara were only expected to pay annual tribute contingents to the kings in times of war but were left to operate under their own traditional rules. Lastly, during the second half of the Eleventh century, the military became weakened and broke up into component parts. Later, there was an invasion by the Berber Almoravid dynasty that conquered Ghana and forced its rulers and people to convert to Islam.McKay stated that â€Å"while Almoravid and Islamic pressures certainly disrupted the empire, weakening it enough for its incorporation into the rising Mali empire, there was no Almoravid military invasion and subsequent forced conversion to Islam. † (McKay, pg 280) The kingdom of Ghana split into several small kingdoms that feuded among themselves. The Mandinka, from the kingdom of Kangaba had been part of the Ghanaian empire and soon dominated the feuding kingdoms.Building on the Ghanaian foundations, Kangaba formed the core of the new empire of Mali and developed into a better organized state than Ghana. There were two rulers for the Mali Empire, Sundiata and Mansa Musa which combined, had military success and creative personalities. Mali had a large agricultural and commercial base that provided for a large population and enormous wealth. (McKay, pg 280) McKay also noted that dating to the early eleventh century, the Mandinka were extremely successful at agriculture.Consistently large harvests throughout the twelfth and thirteenth centuries provided a supply of food, which helped steady the population gro wth. The Mandinka also acted as middlemen in the gold and salt traffic that flowed north and south during the Ghanaian hegemony. In the thirteenth century, Mandinka traders formed companies and gradually became a major force in the entire West African trade. Sundiata, the founder of Mali, set up his capital at Niani and transformed the city into an important financial and trading center.McKay stated, â€Å"through a series of military victories, Sundiata and his successors absorbed into Mali’s other territories of the former kingdom of Ghana and established hegemony over the trading cities of Gao, Jenne, and Walata. Into the fourteenth century, these expansionist policies were continued by Sundiata’s descendant Mansa Musa. † (McKay pg 280) In the language of the Mandinke, Mansa means â€Å"emperor. † Musa consolidated the foundations laid down by Sundiata and ruled the empire at its greatest height.Musa’s influence extended northward to several Ber ber cities in the Sahara, eastward to the trading cities of Timbuktu and Gao and westward as far as the Atlantic Ocean. He maintained a strict empire and it grew twice the size of the Ghanaian kingdom and contained roughly eight million people which brought Musa Fabulous wealth. (McKay, pg 281) It was the Musa’s pilgrimage to Mecca in 1324 that put the empire on the map. He travelled with thousands of porters and servants that carried six-pound staffs of gold and one hundred elephants each bearing one hundred pounds of gold. On his ay to Mecca, Musa stayed in Egypt and spent and gave away so much gold that there was a devaluation of the local currency and it sparked an inflationary crisis in Egypt as well as depressing world prices of the commodity. Twelve years later, al-Omari, one of the sultan’s officials, recounted. â€Å"This man Mansa Musa spread upon Cairo the flood of his generosity: there was no person, officer of the court, or holder of any office of the Sul tanate who did not receive a sum of gold from him. The people of Cairo earned incalculable sums from him, whether by buying and selling or by gifts.So much gold was current in Cairo that it ruined the value of money. † (McKay, pg 281) As a result of Musa’s display of wealth, his fame spread as far as Europ,e where the Catalan map by Abraham Cresques of about 1375 shows Musa seated on a gold throne wearing a gold crown while holding a gold nugget, describing him as â€Å"the riches and most noble king in all the land. † Mansa Musa extended his borders of Mali and set up an effective system of government that had a justice administration that was relatively impartial. The field of diplomacy was able to establish friendly relationships with other African states such as Morocco and Egypt.To help the king in his work, he had judges, scribes, and civil servants that helped to strengthen the administrative machinery of the empire. There were fourteen provinces in Mali t hat were ruled by governors who were typically famous generals. The others such as the Berber province were governed by their own Sheikhs. All of the provinces administrators were responsible to the Mansa and they were all said to be well paid. Under Musa, Timbuktu began as a campsite for desert nomads and grew into a thriving trading post or entrepot, attracting merchants and traders from North Africa and all parts of the Mediterranean world.In the fourteenth century, Timbuktu developed into a center for scholarships and learning for Architects, Astronomers, Poets, Lawyers, Mathematicians, and Theologians. The tradition and reputation for African scholarships lasted until the eighteenth century. (McKay, pg 282) The rise of the Mali Empires was swift but its decline was gradual. In the fifteenth century, Mali lost its ability to dominate the affairs of the Western Sudan because it became a tiny principality of kangaba. It wasn’t until the seventeenth century that Mali complet ely lost its political identity as it had broken up into a number of small independent chiefdoms.Between 1337 to 1341 Musa’s son, Maghan I, ruled the Empire. During this period, the Mossi of present day Burkina Faso raided across Manding and devastated Timbuktu. Then the Tuareg of the Sahara conquered the Northern part of the Mali Empire. During the periods of 1360 to 1400 there were as many as six kings and a series of civil wars. During the fifteenth century, the Songhai, under their leader Sunni Ali, conquered Jenne and Timbuktu and replaced Songhai as the most important power in the Western Sudan. Songhai succeeded Mali and became the third great West African empire. (Accessgambia)The Songhai Empire originated in the nineth century as a medieval civilization that was a small principality in West Africa on the banks of the Niger River called Al-kaw kaw. The kingdom had a very fertile area suitable for livestock rearing, agriculture, and fishing. As early as 800 AD, the kin gdom made full use of their resources and divided into two specialized professional groups; the Gabibi who were agriculturists and the Sorko who were fishermen. The Songhai borders extended from the central area of present Nigeria to the Atlantic coast and included parts of what is now Gambia, Senegal, Mali, Burkina Faso, Niger, Guinea and Mauritania.The areasof the land being rich and fertile allowed the people of Songhai to attract traders to their kingdom and become very astute traders and merchants themselves. As early at the tenth century the leaders of Al-kaw kaw moved their capital from Kukia to Gao. Gao became the last stop for three major trade routes. The routes included the trans-Saharan route from Egypt into Fezzan, Ghat and Agedez, the Tripoli and Tunis from Ghat and the route from Algeria and Morocco.During this time is when the Arab traders brought the Islamic influences which contributed to shaping the direction of the empire. In the thirteenth century Gao was part o f the Mali Empire and in 1275 Gao managed to break away from Mali. It wasn’t until 1464 when the small kingdom of Gao was transformed into the Songhai Empire and signaled the start of a new royal dynasty. Sources McKay, pgs 280-280 http://www. accessgambia. com/information/african-empires. html http://www. ghanaweb. com/GhanaHomePage/history/

Prosthetic Limb Research Paper Essay

Prosthetic limbs all started with a very simple problem. Do you just give up hope when you lose an arm or a leg, or is there some other way to make the best of a situation? Hope was not given up by us persistent human beings and that is how artificial limbs were thought of. Instead trying to get around, we thought of artificial legs to help those who have lost them. Instead of only having one arm, we thought of artificial arms to be able to have two again. Prosthesis not only brought hope to those who were seriously injured and lost their limbs, but it helped these people bring their lives back to as normal as it could be. Of course prosthesis did not start off as being perfect and high tech, but they slowly progressed throughout thousands of years to the technology we have today, as well as the ideas we have for the future. Artificial limbs date back all the way to the times of the ancient Egyptians. These were very basic prosthetics and were made from the materials they had readily available such as wood, iron or leather. Alan J. Thurston discusses the early Egyptian prosthetic, â€Å"One of the earliest examples comes from the 18th dynasty of ancient Egypt in the reign of Amenhotep II in the fifteenth century BC when members of an Egyptian–German mission working in the Sheikh Abdel-Gurna area of the Theban necropolis were carefully brushing away accumulated dirt from the burial shaft inside the rockhewn tomb of Mery, a priest of Amun. The mummy that is on display in the Cairo Museum has clearly had the great toe of the right foot amputated and replaced with a prosthesis manufactured from leather and wood (Fig. 1). An even older example comes from the fifth Egyptian dynasty (2750–2625 BC) discovered by archaeologists, as being the earliest known splint from that period† (Thurston 1114). The ancient Egyptians and other early cultures to use prosthetics did so not only for the physical need for them, but to have a feeling of being whole and complete. Many cultures feared amputation over death because they wouldn’t be whole in the afterlife. So if a person had to have an amputation and had a prosthetic put in place, they would save their old limb and be buried with it so they would have their whole body in the afterlife with them. The first written record of artificial limbs was from around 3500 BC. It was a poem written by Rig-Veda and was about a queen who lost her leg in battle and had an iron prosthesis put in place to where her leg was supposed to be so she could return to battle. The next recorded records of prosthetics that were actually made for rehabilitation came from the ancient Roman and Greek civilizations. â€Å"The books by the Greek historian Herodotus of Halicarnassus, report a prosthetic replacement. Herodotus states that in 484 BC, a Persian soldier escaped imprisonment by cutting off his leg then replacing it with a wooden prosthesis. The report states that he was able to travel 30 miles to Tregea. He was unfortunately captured by Zaccynthius and was promptly decapitated. This has been validated with the finding of a copper and wood leg in Capri, Italy, in 1858, which has been dated to 300 BC (Fig. 2). 5 Lower-limb prostheses of the time were typically made of bronze plates with a wooden core and leather straps† (1114). As seen here, this was the first step to actually have a limb that served a function to help the man walk. The concept of an artificial limb had slightly progressed and become a better tool. The next stage of prostheses came from around 450-1000 A. D. These are the typical peg legs that people think of and are typically thought of as what pirates like â€Å"Captain Hook† had. Peg legs made of again wood, leather or metal were used to help people walk. â€Å"Hook hands† were also made to replace people who lost a hand. â€Å"This style of prosthesis that is basically a modified crutch with a wooden or leather cup persisted into the early part of the twentieth century (Fig. 3). The use of these basic materials persisted until relatively recent times and many examples have survived. † (1114). So for many years people were content with this simple type of prosthetic limb and it wasn’t for about 500 years until it began to progress into something better. The next â€Å"wave† of prosthesis came from Ambroise Pare, a Frenchman born in 1510. He was a surgeon for the French Army and was prominently known for his treatment to gunshot wounds. He also made great progress in artificial limbs. â€Å"His ‘Le Petit Lorrain’, a mechanical hand operated by catches and springs was worn by a French Army captain in battle. He also devised an above-knee prosthesis consisting of a kneeling peg and a prosthetic foot. It had a fixed equinus position, a locking knee and a suspension harness, features that are still in use today† (1117). This hand was the starting point for the advanced prostheses in existence today as well as the leg he developed. It was the first successful leg to have the locking knee, suspension harness and the equinus position and it set the bar for other prosthetics to come. Also Pare was the first to make a prosthesis with joints; â€Å"The leg he designed for amputation through the thigh is the first known to employ articulated joints† (Wilson Jr. 2). The next wave of progression with artificial limbs came from the Civil War, and with anesthetics present, the surgeries were improved tremendously. Also the United States government paid for prosthesis for war veterans so they became more common. There was unfortunately not much advancement in prosthesis during this time period; â€Å"Many patents on artificial limbs were issued between the time of the Civil War and the turn of the century, but few of the designs seem to have had much lasting impact†(6). World War I also didn’t create much advancement in artificial limbs because of low casualties and the depression. After World War II , prosthetic research developed the beginnings of the prostheses in widespread use today† (Spaeth vii), in what was called the Artificial Limb Program. They even further developed artificial limbs by making things such as; â€Å"the patellar-tendon-bearing (PTB) below-knee prosthesis, the quadrilateral socket and accompanying method of alignment, the Henschke-Mauch hydraulic knee unit, a totally new armamentarium for management of upper limb amputees, and the amputee clinic team of concept. Of tremendous significance was the emphasis on early fitting and saving the knee when amputation was necessary due to arteriosclerosis†(6). All of these progressions were very important in changing prosthetics from a simple peg leg to the types of artificial limbs present today. If it weren’t for these, we wouldn’t be nearly as advanced in the field or prosthetics and would be far behind. From here many organizations were made in order to support amputees. Also because the profession of being a prosthetist was only taught by experienced prosthetists and there was no other way of learning available, the University of California started offering classes in around the 1950’s. With classes now available about artificial limbs, this also encouraged a â€Å"take-off† in the field and brought great awareness to the public. From here classes began to expand to universities such as â€Å"New York University and at Northwestern University Medical School in Chicago†(8). After these schools began teaching, many colleges and universities began to follow and the field began to expand. The next milestone for artificial limbs came in 1965 when the Medicare bill passed. This bill gave people over the age of 65 little to no cost to receive an artificial limb. So because of this, the need for prosthetics increased and more and more studies were made on them. This leads us all the way to the prosthetics available today in 2012. The next progression of artificial limbs came from about 1945-1970 with the idea of bionic arms, or artificial limbs controlled by electricity. It would use myoelectric control to power the limbs; â€Å"The concept of a myoelectric prosthesis is simple. The electrical activity naturally generated by contracting muscle in a residual limb is amplified, processed and used to control the low of electricity from a battery to a motor, which operates an artificial limb (Muzumdar 1). It was the Germans who first claimed to be able to accomplish this feat, but it would be extremely difficult to make the limb look and feel normal. Reinhold Reiter was the first one to implement myoelectric control in 1945. His prototype however was not realistic because it was not portable. His prototype was essentially never going to work, but his beginnings of research on myoelectric control started a new wave in artificial limbs. This then sparked a worldwide quest to successfully control myoelectric electricity. Major countries began to compete and try to progress to successfully make a myoelectrically controlled prosthetic. The United States became close to having a successful and efficient one, but logistics problems caused the procedure to be unsuccessful. Then in the turn to the 60’s a Russian scientist named A. Y Kobrinski was able to create a â€Å"self-contained myoelectric control system. This was one of the first stand-alone, battery-powered systems to be used on a number of amputees† (56). Between the 70’s and the 80’s many different types of the â€Å"new† artificial limbs were used on adults as well as children. They were very successful and many people benefited from them. During this period, myoelectric hands were the main myoelectric powered prostheses. Competition sprang between corporations during this time period and they looked to make artificial limbs lighter and more efficient. Then in the 90’s, prosthetics began to be powered by computer technology â€Å"During the 90’s, the myoelectric prosthesis industry began to turn towards computer technology to provide programmable controls systems. These advanced controllers can be adjusted, while on the patient, to give a variety of functions from one or two electrode sites† (57). This computer technology leads all the way to the types of artificial limbs present today. Battery technology has also increased tremendously during the past years, which gives the prosthetics greatly improved battery life. Artificial limbs today are extremely efficient and the batteries last a long time. Also the computer technology available creates greater memory for movement and control, which allows the prosthetics to feel more natural. The artificial limbs today vary greatly depending on the need of the patient. There are cosmetic prosthetic limbs, also called a cosmesis. These are the prosthetics that look exactly like real limbs. â€Å"Advanced plastics and pigments uniquely matched to the patient’s own skin tone allow a modern day cosmesis to take on an amazingly life-like appearance. Even details such as freckles, hair and fingerprints can be included, bringing the cosmesis to the point where it’s nearly indistinguishable from the original missing arm or leg† (Clements 5). There are also the basic artificial limbs which just serve the purpose to walk and aren’t as natural looking. An example of this could be the prosthetics you see the runner in the Olympics wearing. Regardless, the essential components of prosthetics are generally the same. They are composed of the plyon, which is the skeletal frame for the limb and the main support. Today these are generally made of lightweight but strong metals such as carbon fiber components. Next there is the socket, which connects the artificial limb to the stub where the patient’s limb used to be. It is very important the socket is built correctly or it can cause further damage to the patient; â€Å"Because the socket transmits forces from the prosthetic limb to the patient’s body, it must be meticulously fitted to the residual limb to ensure that it doesn’t cause irritation or damage to the skin or underlying tissues† (3). The next and final essential component is the suspension system. This is the part that makes the artificial limb stay connected to the body and not fall off. This is generally done by a suction system, which uses an airtight seal to prevent the limb from falling off when it’s pushed on. Prosthetic limbs today are all unique in their own way. The type of amputation and where the limb is cut off all has a great effect on the type of prosthetic limb needed. A below the knee prosthetic for example is far different from an above the knee. The above the knee prosthetic will need an articulated knee and takes much more technology to make. It also needs to attach to different nerves as well as many other factors. One problem with these high tech limbs however is their price. Prosthetic limbs are extremely expensive, and the more high tech they are, the more expensive they become. There are even some prosthetic limbs today that use microprocessors and can remember your body movements; â€Å"Advanced prosthetic legs can be equipped with a microprocessor (computer chip) and sensors that measure angles and forces while a patient walks. Over time, the microprocessor learns how the patient walks and constantly adapts the stiffness of the knee accordingly† (5). This is an example of the type of limb that would cost a patient tens of thousands of dollars. One of the really cool and amazing prosthetics technology today has brought us to is the targeted muscle reinnervation or TMR. It was developed by Dr. Todd Kuiken and it has to do with controlling artificial limbs with your brain. When a person loses a limb, he created the idea to attach the nerves from that limb to a muscle close by that contributes to moving the â€Å"former limb†. When this is done and the patient goes to try to move the â€Å"used to be limb† it then is able to send electrical currents, which causes Kuiken’s prosthetic limbs to move. This breakthrough he made is fascinating and extraordinary and opens doors to artificial limbs of the future.

Managing Employee Performance Essay

In the article under review, Hoogenboezem and Hoogenboezem (2005) discuss the introduction of performance measurement in the Dutch Police service since 2002. This phenomenon followed radical changes in Dutch political organization largely precipitated by the rise of politician Pim Fortuyn who had government performance on top of his political agenda. The Dutch government, like most of its Western counterparts had been cited for underperformance with regards to public service delivery. The government had frequently shifted this blame on non-performance of its civil servants. This was taken as a key political agenda in the run up to the 2002 elections in the Netherlands. Fortuyn’s argument was that government had refused to exercise control by holding public sector managers accountable and setting targets for them. The authors examine the Dutch political system. Traditionally, the system has thrived on consensus building. This had affected efficiency in performance within the public sector which gave rise to a ‘’political attention for performance measurement’’ (2005:571). They also investigate the collapse of the Dutch pillars of society, the nature of policing and the community policing approach in the Netherlands and conclude that performance measurement will eventually become ineffective as a performance enhancing instrument. This they ascribe to the fact that the whole process of targeting in the Dutch Police administration does not have a firm philosophical base. It is based on loose arguments of a loud politician and an electorate that wanted change at all cost. Importing management practices like performance targeting from the private sector to the public sector comes with complexities (Adcroft and Willis, 2005). This is manifest in the struggle to cope with t argets by the Dutch Police. Effect of Targets on Performance Measurement The consequence of the political waves in the Netherlands in 2002 was the setting of quantitative law enforcement targets for political heads of the Police force. Specific figures for the number of suspects to be prosecuted for public violence and juvenile crime, for example were set. It appears to me that the targets are the result of undue political pressure rather than a carefully thought through system of performance management. Performance management systems are implemented to produce tangible results for organizations based on their mission statement and strategic objectives. Performance measurement is only one component of a performance management system. There is no indication, at least from the journal article, that the due processes for establishing a performance management process, namely prerequisites, planning, execution, assessment, review and renewal/recontracting (Agunis, 2009:32) are followed in the Dutch Police example. The effect is the general cynicism towards tar geting by the Police and the public. Again, employees react differently to performance measurement. This requires that organizations must be able to predict employee reaction to targets and factor these reactions into the management process (Selden and Sowa, 2011). Feedback from the parties involved in the Dutch Police targeting differs hugely. Whilst one group (senior management) appear enthused about the targets, another group (the operational policemen) are aggrieved. This suggests lack of consultation of all stakeholders which is a key component to successful performance management; especially in the setting of targets and measurement criteria. The essence of policing is to make society safer. Any ‘’†¦system that will not make the Netherlands safer†¦Ã¢â‚¬â„¢Ã¢â‚¬â„¢ (Hoogenboezem and Hoogenboezem, 2005:573) is doomed to fail ab initio. Such a system lacks strategic congruence and becomes a public relations gimmick. This is the position expressed by some in Police leadership. However another group are inspired about getting more money ((Hoogenboezem and Hoogenboezem, 2005:573). The ‘’more money’’ factor will tend to obscure an impartial assessment of the scheme. This is also the case with Police chiefs expressing some support for targeting, with targets linked to reward in their case. Policemen at the operational level have problems with the targets because they make their jobs a routine; leaving them with few choices in the maintenance of law and order. The exercise of discretion appears to be of intrinsic value to the operational policeman. Where targets have placed a strict regiment on the use of discretion the intrinsic motivation in being a Policeman gets lost. An unmotivated Policeman could be a danger to society. Although officers in lower and middle management appear inspired about targets and their alignment to rewards, this is not necessarily a motivator for performance. Job enrichment and job enlargement have been recognised as essential motivators in the not-for-profit organizations (Selden and Sowa, 2011) and the Dutch politicians must recognise this. Any perception of unfairness in the Performance management system could lead to decreased employee commitment (Aguinis, 2009) and eventually undermine the whole system. In this regard the conclusion of the authors that the performance measurement in the Netherlands Police is a mixture of cynicism and a public relations ritual of signing contracts is validated. This is largely the result of it being a knee jerk reaction not involving employees in the determination of the entire process. Employee involvement helps translate targets into operational language that is understood by all participants in the process (Chamberlain, 2011) and bought into. Employee buy-in is essential for the success of every performance management system. Worst still is the fact that the new requirements of the Dutch Policeman under the present circumstance has not come with any training package. It is also not evident that systems of recruitment and selection have been amended to reflect the expected outcome in view of the radical changes in nature of the job. Conclusion In my opinion performance of Policemen should not be measured against outcomes. It should be exhibited in various agreed behaviours and programmes. Take the example of Washington State in the US where pperformance data indicated an increase in motorcycle accidents. Several Agencies like the Department of Licensing, Washington State Patrol, Traffic Safety Commission and the Department of Transportation, worked together to provide more education for motorcycle operators and manufacturers as well as stricter licensing. These measures (programs and behaviours) resulted in fewer accidents (http://www.agacgfm.org/research/downloads/CPAGNo23.pdf). The case for quantifying performance outcomes for the public sector does not have much merit in my opinion. References Aguinis, H. (2009) Performance management. 2nd ed. Upper Saddle River, NJ: Pearson/Prentice Hall. Chamberlain, L (2011). ‘Does your performance management need a tune-up?’ Strategic Finance. November. pp.18-20. Available at: http://content.ebscohost.com.ezproxy.liv.ac.uk/pdf27_28/pdf/2011/5Y6/01Nov11/67179179.pdf?T=P&P=AN&K=67179179&S=R&D=buh&EbscoContent=dGJyMNLe80SeprY4wtvhOLCmr0mep69Ssam4SrWWxWXS&ContentCustomer=dGJyMOzprkmvqLJPuePfgeyx44Dt6fIA . Accessed on: 7 December 2011) Hoogenboezem, J. A., & Hoogenboezem, D. (2005) ‘Coping with targets: performance measurement in The Netherlands police’, International Journal of Productivity and Performance Management, 54 (7), pp. 568–578. http://sfx7.exlibrisgroup.com.ezproxy.liv.ac.uk/lpu?title=International+Journal+of+Productivity+and+Performance+Management&volume=54&issue=7&spage=568&date=2005&issn=&eissn Seldon, S., & Sowa, JE (2010) ‘Performance management and appraisal in human service organizations: management and staff perspectives.’ Public Personnel Management. 40(3), pp. 251-262. Available at: http://ehis.ebscohost.com.ezproxy.liv.ac.uk/ehost/pdfviewer/pdfviewer?sid=8b3e34b3-2e4c-4ffe-bcb5-f57ceb9d50f7%40sessionmgr113&vid=4&hid=120 (Accessed on: 7 December 2011) Adcroft, A., & Willis, R., (2005) ‘The (un)intended outcome of public sector performance measurement’ International Journal of Public Sector Management, 18(5) pp. 386-400. DOI 10.1108/09513550510608859. Available at: http://www.alternativeminds.co.uk/AA4.pdf. (Accessed on: 28 December 2011)

Measuring and Improving Employee Motivation Essay

Measuring and Improving Employee Motivation - Essay Example The performance is stereotypical a feature that implies that the employees can sue him for destroying their reputation and discriminating against them based on their races. Racial segregation is a heinous criminal offense with the American government striving to create a holistic society. Such performances, therefore, derail government’s endeavors targeted at developing a cohesive society. Additionally, the United States underwent a period of intense racial segregation. The animosity that existed among the numerous races impaired the development of the country. To limit the manifestation of the undesirable features, the government banned racial segregation in its attempt to create a cohesive American society. The government thus criminalized numerous social features that would amount to racial discrimination, performing such imitations in a workplace with numerous people from diverse backgrounds amounts to racial discrimination, thus a criminal offense. While none of the emplo yees considered undertaking a legal action against Smith, the stunt was illegal and was an abject portrayal of disregard to the basic values of humanity. In another equal action pact scene in the episode, Michael Scot harasses the Indian woman a feature that prompts the woman to slap him in the face. The act of aggression constitutes a criminal offense and is an unethical practice in an ideal workplace. As such, Michael Scot can readily accuse the woman of battery, which is a serious criminal offense in the country. Additionally, the woman can also accuse Scot of harassment, which is an equally serious offense. Sexual offenses are serious offenses in any society and the fact that the harassment occurs at a workplace worsens the situation. In fact, should Scot press charges for battery, the Indian can readily claim that she acted in self-defense since Scot makes the first move to harass him. The behavior of the two contravenes factors that create a conducive workplace.

Article critique Essay Example | Topics and Well Written Essays - 750 words - 1

Article critique - Essay Example The data collection and data analysis methods were appropriate for the research and information was also obtained easily from the target groups. I would carry out the same research making use of suitable references from books, educational journals and information from online resources (Wray.et.al, 1999). This would make results more credible and reliable. The article is addressing a critical issue in health care such as health planning and the problems facing veterans in rural areas. The design for the research study was appropriate. The method of data collection was favorable to all participants and the method of analysis t-test was appropriate to obtain good results (Wray.et.al, 1999). The research took into consideration other methods that would help in the attainment of credible results. To achieve a better research paper, researchers should improve their abstract and give a summary of all what they have done in the course of study. They should also provide a credible literature review that is supported with evidence from earlier researchers in the same field. The research should also provide recommendations that should be implemented to ensure better health care (Wray.et.al, 1999). Further, the research should provide room for future research studies and include references. The figures and tables referred to in the table should be shown to make the paper more appealing to readers and make it easier to understand. The article does not have adequate reliable references. In the article various studies were conducted by various researchers but only their names appear but the writer did not indicate the years when these studies were carried out and published (Wray.et.al, 1999). The research problem is in line with the objectives. It also relates well with purpose of the stud y which was to assess the health status of veterans receiving VA treatment and those receiving treatment from mobile clinics (Wray.et.al, 1999). Data

Project halim Assignment Example | Topics and Well Written Essays - 1750 words

Project halim - Assignment Example The main function of the encoders and decoders is to convert parallel data to series data. Design of the control circuit The function of the control circuit will be to give an alarm to indicate the departure of the child. The communication process that will be employed is the RF communication because it is the most accepted and affordable cost solution. In the RF module, both transmitter and receiver pairs are essential because the communication uses the principle of serial communication. The module of operation demands a component that converts the n-bit data to serial data. The RF module can, therefore, employ Serial encoders or decoders (HT12D and HT12E) to convert the data or task. RF communication block diagram The block diagram of the RF communication illustrated above employs the encoders/decoders that are TTL compatible. Therefore, the input levels are depicted in a TTL Logic level. To solve the problem, the TTL input must be changed into serial data input. To have a serial d ata input, an encoder must be used because; it can be read directly by the RF transmitter performing the amplitude Key shifting (ASK) modulation, and further transmitting the data via antenna. At the receiving end, modulated signal by the antenna is received; the RF Receiver carries out the filtering, demodulation and processing of the transmitted data. The data obtained at the end is a serial data that is converted to a TLL level logic data. The RF Module The module comprises of an RF receiver and transmitter. The two operate at a frequency of 434MHz. The transmitter obtains serial data from the encoder and transmits it using a wireless platform provided by the antenna attached to the pin 4 (data). The transmission speeds are between 1Kbps and 10Kbps. The RF receiver operated at the same frequency as the transmitter to obtain the data transmitted. In most cases, the RF module is used beside coupled with a pair of encoder HT12E and Decoder HT12D. The encoder is useful in encoding pa rallel data for transmission while the receiver send the required signal to the decoder for decoding. Features Range frequency of the TX: 433MHz Supply voltage of the TX: 3V ~ 6V Coverage in open space (standard Conditions): 100 Meters Receiver Frequency (RX): 433 MHz Operating voltage of RX: 5V Supply current of the RX: 3.5 mA RX IF Frequency: 1MHz Low Power consumption Easy Application HT12E and HT12D The decoder (HT12D) is ICs comprising a series of CMOS for remote control applications. The IC is paired with an encoder HT12E with the HT12D main role is the conversion of the serial input to parallel output. The HT12D decodes the serial addresses and data that are received by the RF receiver, which in turn sends the parallel data to the output pins after processing. For successful operation, the paired decoder and encoder must have the same number of address and data format selected. The serial data and address from matching encoder, received by the decoder, is transmitted by a car rier employing the RF transmission medium providing output to the output pins. Consequently, the HT12E encoder IC is also a series of CMOS specifically for Remote Control applications. The purpose of its use is interfacing the RF. The suitability of the encoder is restricted to 12 bit information consisting of N data bits and address bits. The encoder converts the parallel input from the