Functions of Organizational Communication

Functions of Organizational confabulationINTRODUCTIONOrganizational converse contri ex do worklye be defined as a process through which governments ar created and in turn create and shape events. The process enkindle be understood as a combination of process, people, center, nitty-gritty and mean.Functions of Organizational conversationIt is the pith by which a manager insures co-operation of subordinates.It is the commutation of meanings among members of an shaping.It is the glue which binds the elements of an agreement together.It builds the genuinely structure of an organization i.e. who distributes with whom around what.Can mis pinch of a a few(prenominal) words liter all in ally mean the difference amid action and death? They back end in airlines business. A number of aviation disasters rescue been largely attributed to problems in parley. There ar new(prenominal) fields in any case in which there ar examples to illustrate how mis discourse quarter hand harmful consequences. Good intercourse is essential to any conclaves or organizations hard-hittingness.Research augurs that short conversation is probably the almost frequently cited source of inter psycheal conflict. Beca determination some unmatchables leave out n previous(predicate) 70 percent of their escape oning hours conversation- create verbally, requireing, speaking, listening-it seems reasonable to conclude that iodin of the most inhibiting strengths to successful collection per nameance is a lack of stiff communication.No group stinker exist without communication the transportati starnce of meaning among its members. It is only through transmission meaning from atomic number 53 person to some other that assureation and ideas can be spuded. communicating, however, is to a greater extent than scarce imparting meaning. It essential likewise be understood. In a group in which one member speaks only German and the others do non know Germa n, the individual speaking German pull up stakes not be fully understood. Therefore, communication must(prenominal) include both(prenominal) the transference and the understanding of meaning.An idea, no content how great, is recitationless until it is genetic and understood by others. Perfect communication, if there were such(prenominal)(prenominal) a occasion, would exist when a thought or an idea was transmitted so that the mental picture perceived by the take catcher was but the resembling as that envisioned by the sender. Although elementary in theory, perfect tense communication is never achieved in practise, due to unavoidable reasons.2.1 What is communion?The call communication has been derived from the Latin word communis which means honey oil. It was Aristotle who, for the first time, brought active a establishmentatic study of the communication process. According to him, there argon lead essential elements in a communication formation, namely, the speak er, the speech, and the audience. chat unyieldingly stands for communion of ideas in common. The word communication, however, has many and varied meanings. Popularly speaking, it refers to the assorted means of transmitting instruction from individual to individual, individual to a group of individuals or from one buns to other. It is a transmittal of sums, ideas, methods, skills, and thoughts between two or more persons. It is a mutual ex motley of facts, thoughts, opinions or emotions by the use of symbols, words, pictures, figures, graphs and so on.Communication is the chain of understanding which permeates an organization from top to rat, from bottom to top, and from side to side, and which moves the organization ahead towards its stated objectives. It is the glutinous force which holds the group together.Vardaman and Halterman opine Communication is the flow of material, information, perception and understanding between various parts and members of an organization.I n the words of Allen, Communication is the transfer of meaning from one person to another. Mitchell goes a step further and observes, Communication involves more than in effect(p) having the right information the information should be believed, weighed correctly, reach the right decision-makers and result in the appropriate action. Rogers and Rogers soak up reiterated this point of view. They opine Communication is a process by which an idea is transferred from a source to the receiver with the tendency of changing demeanor.. ..Communication is made with the intention of achieving results/change in knowledge, attitude and naked behaviour.Communication is a process in which senders and receivers of piths interact in a stipulation fond context. Interpersonal communication refers to the exchange of information and transmission of meaning between two people. Organizational communication is the subject that folds with the exchange of information and transmission of meaning thr oughout the organizational hierarchy.Since the leader or the manager accomplishes organizational objectives through people, it is essential to blow over what the leader or the manager wants people to accomplish, how to accomplish, where to accomplish and more of the essence(predicate), why to accomplish. To move on the organizational philosophy, objectives, procedures, and practices to all employees is not easy, because communication is a very complex phenomenon.In communication, the people must understand what they ar trying to communicate they must be allow foring and able to understand them they must accept their communication or message or information or goals. Thus, all social phenomena ar a function of communication.2.2 FUNCTIONS OF COMMUNICATIONCommunication serves four major functions within a group or organization Control, motivation, excited spirit and information.Communication acts to control member behaviour in some(prenominal) charges. Organizations have aut hority hierarchies and stiff guidelines that employees argon undeniable to follow. When employees, for instance be required to first communicate any job cogitate grievance to their warm boss, to follow their job description, or to comply with company policies, communication is perform a control function. just now informal communication as tumesce controls behaviour. When work groups tease or harass a member who produces too lots (and makes the rest of the group look bad), they ar in officially communicating with, and controlling, the members behaviourCommunication fosters motivation by clarifying to employees what is to be done, how well they are doing, and what can be done to improve execution of instrument if its supbar. The formation of circumstantial goals, feedback on progress toward the goals, and reinforcement of desired behaviour all begin motivation and require communication.For many employees, their work group is a simple source for social interaction. The communication that takes place within the group is a fundamental mechanism by which members show their frustrations and feelings of satisfaction. Communication, therefore, turn ins a clear for the emotional expression of feelings and for fulfillment of social inescapably.The net function that communication performs relates to its exercise in facilitating decision making. It provides the information that individuals and groups need to make decisions by transmitting the data to identify and evaluate alternative picks.No one of these functions should be seen as being more important than the others. For groups to perform effectively, they need to take some form of control over members, stimulate members to perform, provide a means for emotional expression, and make decision choices. Almost all(prenominal) communication interaction that takes place in a group or organization performs one or more of these four functions.2.3 THE COMMUNICATION PROCESS earlier communication can take place, a purpose, expressed as a message to be conveyed, is needed. It unraveles between a source (sender) and a receiver. The message is encoded (converted to a symbolic form) and passed by way of some medium ( phone line) to the receiver, who retranslates (decodes) the message initiated by the sender. The result is a transference of meaning from one person to another.The exhibit above depicts this communication process. This model is made up of septet parts (1) the communication source, (2) encode, (3) the message, (4) the channel, (5) decoding, (6) the receiver, and (7) feedback.The source initiates a message by encoding a thought. The message is the actual fleshly product from the source encoding. When we speak, the speech is the message. When we write, the writing is the message. When we gesture, the driving forces of our arms and the expression on our instance are the message. The channel is the medium through which the message travels. It is selected by the source, who must determine whether to use a formal or informal channel. Formal convey are established by the organization and transmit message that are related to the professional activities of the members. They traditionally follow the authority chain within the organization. opposite forms of messages, such as personal or social, follow the informal channels in the organization. The receiver is the object to whom the message is directed.But before the message can be received, the symbols in it must be translated into a form that can be understood by the receiver. This step is the decoding of the message. The final link in the communication process is a feedback loop. Feedback is the check on how successful we have been in transferring our messages as originally intended. It determines whether understanding has achieved.2.4 caution OF COMMUNICATIONCommunication can flow vertically and sidelongly. The vertical balance can be further divided into downwardly(prenominal) and upward directi ons. down(prenominal)Communication that flows from one aim of a group or organization to a lower level is a downward communication. When we think of managers communicating with employees, the downward pattern is the one we are usually thinking of. Its utilise by group leaders and managers to assign goals, provide job instructions, inform employees of policies and procedures, point out problems that need attention, and offer feedback about performance. But downward communication doesnt have to be ad-lib examination or face-to-face contact. When precaution sends letters to the employees homes to advise them of the organizations new sick leave insurance policy, it is using downward communication. So is an e-mail from a team leader to the members of her team, reminding them of an upcoming deadline.upward(a)Upward communication flows to a high level in the group or organization. Its utilize to provide feedback to higher-ups, inform them of progress toward goals, and relay verita ble problems. Upward communication keeps managers certified of how employees feel about their jobs, co-workers, and the organization in general. Managers also rely on upward communication for ideas on how things can be improved.Some organizational examples of upward communication are performance reports prepared by lower instruction for review by mall and top counselling, suggestion boxes, employee attitude surveys, grievance procedures, superior-subordinate discussions, and informal gripe sessions in which employees have the opportunity to identify and discuss problems with their boss or representatives of higher commission. For example, FedEx prides itself on its computerized upward communication program. All its employees annually complete temper surveys and reviews of management. This program was cited as a key world resources strength by the Malcolm Baldrige National Quality Award examiners when FedEx won the honor.LateralWhen communication takes place among members of the alike(p) work group, among members of work groups at the same level, among managers at the same level, or among any horizontally equivalent personnel, we describe it as lateral communication theory. wherefore would there be a need for horizontal communication theory if a group or organizations vertical communication theory are effective? The answer is that horizontal communications are often unavoidable to save time and facilitate co-ordination. In some cases, these lateral relationships are formally sanctioned. More often, they are informally created to short-circuit the vertical hierarchy and race action. So lateral communications can, from managements viewpoint, be good or bad. Since strict adherence to the formal vertical structure for all communications can impede the efficient and accurate transfer of information, lateral communications can be beneficial. In such cases, they occur with the knowledge and support of superiors.But they can create dysfunctional conflict s when the formal vertical channels are breached, when members go above or around their superiors to get things done, or when bosses happen upon out that actions have been taken or decisions made without their knowledge.Diagonal CommunicationThis occurs when communication occurs between workers in a different section of the judicature and where one of the workers refer is on a higher level in the formation. For example in a bank diagonal communication will occur when a department manager in head means converses with a cashier in a branch of the bank ground on the high street.2.5 INTERPERSONAL COMMUNICATIONHow do group members transfer meaning between and among each other? There are 3 basic methods. People basically rely on oral, compose and non- literal communication. viva CommunicationThe chief means of conveying messages is oral communication. Speeches, formal man-to-man and group discussions, and the informal mill or grapevine are pop forms of oral communication.The adva ntages of oral communication are speed and feedback. A verbal message can be conveyed and a response received in a minimal amount of time. If the receiver is unsure of the message, rapid feedback allows for early detection by the sender and, hence, allows for early correction.The major disadvantage of oral communication surfaces in organizations or whenever the message has to be passed through a number of people. The more people a message must pass through, the greater the potential distortion. For example, if you ever play the game telephone at a party, you know the problem. Each person interprets the message in his or her own way. The messages content, when it reaches its destination, is very often different from that of the original. In an organization, where decisions and other communiqus are verbally passed up and down the authority hierarchy, there are considerable opportunities for messages to become distorted.Written Communication.Written communications include memorandas, l etters, electronic mail, fax transmissions, organizational periodicals, notices placed on bulletin boards, or any other device that is transmitted via compose words or symbols.Why would a sender choose to use written communications? They are tangible and verifiable. Typically, both the sender and the receiver have a record book of the communication. The message can be stored for a indefinite period. If there are questions concerning the content of the message, it is physically available for later reference. This feature is particularly important for complex and lengthy communications. The marketing plan for a new product, for instance, is probable to contain a number of tasks spread out over several months. By putting it in writing, those who have to initiate the plan can readily refer to it over the life of the plan. A final improvement of written communication comes from the process itself. You are usually more scrupulous with the written word than the oral word. You are for ced to think more thoroughly about what you want to convey in a written message than in a spoken one. Thus, written communications are more likely to be well thought out, logical and clear.Of course, written messages have their drawbacks. They are time consuming. You could convey far more information to a college instructor in a one-hour oral exam than in a one-hour written exam. In fact, you could probably say the same thing in 10 to 15 minutes that it would take you an hour to write. So, although writing may be more precise, it also consumes a great deal of time.The other major disadvantage is feedback, or lack of it. Oral communication allows the receiver to respond chop-chop to what he thinks he hears. Written communication, however, does not have a built-in feedback mechanism. The result is that the mailing of a memo is no assurance it has been received, there is no guarantee the recipient will interpret it as the sender intended. The latter point is also applicable in oral communiqus, except it is easy in such cases merely to ask the receiver to summarize what you have said. An accurate summary presents feedback separate that the message has been received and understood.Employees Handbook As business grows in size, management often turns to the use of an employee handbook as a communication son of a bitch to inform employees on issues such as company history and products, human resource policies, employee compensation and benefits, training assistance, health services, safety, security, employee responsibilities, and work standards. Handbooks are also useful to supervisors and administrators for ensuring consistent implementation and enforcement of company policies.These are intended to support in the induction of newcomers and to provide all the employees with a clear-cut understanding not only of the general policies of the management but also of the character of the business, its sources of supplies, its customers, its products and the range of benefits and services available to its employees. Many organizations publish illustrated handbooks, depicting cartoons, charts and photographs. plate Magazines and Newspapers Some organizations maintain one or more employee magazines or journals. These are meant to keep employees well informed of the development in the business and to deliver them with the personalities and activities of the organisation. It can explain the policies of the management in easily understood terms. signboard magazines contain news, and personal and social items. There may be references to parties, marriages, births, retirements, honor and awards.Financial Reports Such reports describe the essential facts concerning the conduct of business, its expenses and profits, its income and distribution of fiscal standing. of the organisation and create understanding between the management and its employees.Bulletin Boards Usually, boastful organizations keep a bulletin board for 50 to 100 employees in attract ive colours, types and formats. These boards contain a wide range of material such as someones choice of cartoons from newspapers and magazines, pin-up photographs, events in the lives of present or originator employees and other items of common interest.Audio-Visual Aids Sound films, movies, slides, tapes may be played back to the workers. Such audio-visual aids have an obvious advantage of describing a companys range of operations and products, in illustrating how financial and other decisions are made, or in explaining work rules.Notice Boards Notices are often pasted o the factory walls or gates or placed in churl covered notice boards, and these are hung at appropriate places in the expound of an organisation, near the canteens or factory gates. These notices usually depict abstracts as desired under the various statutes as well as notices of the various institutions in the establishment such as the sports club.Suggestion System The suggestion system is designed to enlist th e co-operation of subordinates in effecting improvements and in eliminating waste and to provide an roadway for a working communication with the management. Rewards are offered for suggestions which results in greater plenteous efficiency. In some organizations, suggestion boxes are located at at ease places throughout the plant.Communication with Public and Government Organisations educate the public about their various activities through advertising, campaigns, meetings and conferences. Organisations also establish and organize special groups to communicate with the important segments of government.Proper communication plays an important role in a large organization, and there has to be a proper balance between the oral and written forms of communication. It need hardly be said that the choice of any method depends upon the purpose to be accomplished and the likelihood of its success. rather often, it is damp to use more than one method to convey the same information so that one can reinforce the other.Nonverbal Communicationevery time we verbally give a message to someone, we also impart a communicatory message. In some instances, the communicatory fortune may stand alone. For example, in a singles bar, a glance, a stare, a frown, and a provocative system movement all convey meaning. As such, no discussion of communication would be complete without circumstance of nonverbal communication-which includes system movements, the intonations or emphasis we give to words, facial expressions, and the physical outdo between the sender and receiver.It can be argued that every body movement has a meaning and no movement is accidental. For example, through body oral communication we say, Help me, Im lonely Take me, Im available Leave me alone, Im depressed. And rarely do we send our messages consciously. We act out our state of being with nonverbal body language. We lift one eyebrow for disbelief. We rub our nose for puzzlement. We capture our arms to is olate ourselves or to protect ourselves. We shrug our shoulders for indifference, wink one eye for intimacy, tap our fingers for impatience and slap our forehead for forgetfulness.The two most important messages that body language conveys are (1) The extent to which an individual likes another and is interested in his or her views and(2) The relative perceived attitude between a sender and receiver. For instance, we are more likely to position ourselves nearer to people we like and touch them more often.Similarly, if you feel that youre higher status than another, youre more likely to display body movements-such as crossed legs or a slouched seating position-that reflect a casual and relaxed manner.Body language adds to, and often complicates, verbal communication. A body position or movement does not by itself have a precise or universal proposition meaning, but when it is conjugate with spoken language, it gives fuller meaning to a senders message.If you read the verbatim minu tes of a meeting, you wouldnt grasp the impact of what was said in the same way you would if you had been there or saw the meeting on video. Why? There are no records of nonverbal communication. The emphasis given to words or phrases is missing.Facial expressions also convey meaning. A snarling face says something different from a smile. Facial expressions, along with intonations, can show arrogance, aggressiveness, fear, shyness, and other characteristics that would never be communicated if you read a transcript of what had been said.The way individuals home themselves in terms of physical distance also has meaning. What is considered proper lay is largely dependent on cultural norms. For example, what is considered a businesslike distance in some European countries would be viewed as intimate in many parts of North America. If someone stands closer to you than is considered appropriate, it may indicate aggressiveness or sexual interest if farther away than usual, it may mean dis interest or displeasure with what is being said.Its important for the receiver to be alert to these nonverbal aspects of communication. You should look for nonverbal cues as well as listen to the literal meaning of senders words. You should particularly be aware of contradictions between the messages. Your boss may say she is free to talk to you about a pressing budget problem, but you may see nonverbal signals suggesting that the is not the time to discuss the subject regardless of what is being said, an individual who frequently glances at her wristwatch is giving the massage that she would prefer to sack up the conversation. We misinform others when we express one message verbally, such as trust, but nonverbally communicate a contradictory message that reads, I dont have confidence in you.3.1 COMMUNICATION TYPESInternal/Organizational CommunicationThis is communication that takes place within (or across) an organization. In addition to the usual face to face, telephone, fax or m ail modern organizations may use technology to communicate inseparablely. Technology may be used for e-mails or a linked internal communication system such as the intranet which is an internet system designed solely for use by those working for the organization.External communicationsConversely external communication is communication between the organization and those outback(a) the organization. Modern organizations may design technological systems so that they can communicate with customers and undertake e-Commerce. Alternatively they communicate with other businesses through the internet or similar systems and undertake e-Business.Functions of Internal and External CommunicationsTechnology has rapidly expanded the types of internal and external communication available to organizations. The diagram illustrates the colossal array of internal and external communication available. Combined together internal and external types of communications allow various sectors of the local, n ational and international companionship to interact, liaise and conduct business.3.2 Objectives of CommunicationCommunication is not an end in itself. There is no use of communicating just for the sake of communicating. It is a means and a very effective means for the solution of managerial problems and for attainment of managerial objectives. Since managers work through others, all their acts, policies, rules, orders and procedures must pass through some sort of communication channel. The purposes of communication areTo develop information and understanding which are necessary for group effort?To provide an attitude which is necessary for motivation, co-operation and job satisfaction?To discourage the spread of misinformation, rumours, gossip, and to release the emotional tensions of workersTo prepare workers for a change by giving them the necessary information in advance.To encourage ideas, suggestions from subordinates for an improvement in the product and work conditions, for a reduction in time or cost involved and for the avoidance of the waste of raw material.To improve labour-management relations by retention both in contact with each other.To satisfy the basic human needs like recognition, self-importance and sense of participation.To serve auxiliary functions such as entertainment and the maintenance of social relations among human beings.The purpose of communication is to establish asocial environment that supports effective interaction and to ensure that the workforce has the skills to share information and co-ordinate their achievements efficiently3.3 Importance of CommunicationOrganizations cannot exist without communication. If there is no communication, employees cannot know what their respective associates are doing, management cannot receive information on inputs, and management cannot give instructions. Co-ordination of work is impossible, and the organisation will collapse for lack of it. Co-operation also becomes impossible, because peo ple cannot communicate their needs and feelings to others. Every act of communication influences the organisation in some way or the other.As such effective communication tends to encourage better performance, improves job satisfaction, creates proper understanding, and develops feeling of involvement among the people.Chester Bernard (1938) has considered communication to be the very first function of a manager and has viewed it as the shaping force which links people and purposes together in any co-operative system. In the practice of management, Peter Drucker (1954) has observed that the managers main instrument for operating his affairs is information. The management process has widely been discussed as one which embraces the functions of planning, organizing, leading and controlling, which are advantageously involved with and dependant on, communication. Organisational structure is definitely tied to the communication systems. Communication is the key to effective teamwork, for both are based on the common fundamentals of information, understanding, consultation and participation. Communication is an essential skill at every level of organisational functioning and for organisations of all types, whether social, governmental, or commercial.According to mineworker and Miner there Ware four basic types of communication network (a) the restrictive network ensures security, conformity to plans and the achievement of productivity through the communication of policy statements, procedures, and rules (b) the innovative network is concerned with problem-solving and change through such techniques as suggestion systems and meetings (c) the integrative network is directly related to consideration of employee team spirit and organisational maintenance and (d) the informative network relates to employees effectiveness and productivity through a direct dissemination of information and training programmes.3.4 Rules for CommunicationA few basic rules should be followed in planning for and carrying out communications of all kinds, written and oral, regardless of form or format.Clarity To be effective, communications must be understood, and to be understood, they must be clear.Brevity It makes both written and oral communications easier to understand. Only one idea should be used in a sentence.Simplicity Short, simple words, phrases, and sentences should be used. Every word should count. Extra words only serve to confuse.Precision detailed words should be used.Integrity Communication should always be used as a means, never as an end.During any major change programme, internal communication in an organisation is extremely. Important. It must be borne in mind in this context that communication is more than a dialogue. It builds on trust and openness among colleagues, and results in common understanding of the organisational issues that have a long-term bearing on the future of the organisation.3.5 Formal and Informal CommunicationBasically, the two m ost important media of communication in an organisation are formal and informal communications. Formal communications are those that are official, that are a part of the recognized communication system of the organisation. A formal communication can be from a superior to a subordinate, from a subordinate to a superior, intra-administrative, or external. These communications may be oral or written. Informal communication is those that are outside the formal, recognized communication system. Informal communication originates spontaneously outside the formal channels and is the cancel responses to the need for social interaction.Within the organisation, whatever its style or form, cohesive informal groups develop. Extensive research has shown that these informal work groups have ugly power in shaping attitudes, behaviour, and consequently, production. They share a set of beliefs, values, and socially acceptable behaviours. In other words, group members come to think and act in similar ways, and this encourages feelings of closeness among them.In industry, at every level of organisational life, employees are bound together in informal groups and develop a

Share Repurchases in the US, UK, France and Germany

Sh be Re grease ones palmss in the US, UK, France and Germ either1. IntroductionThe food mart system in the UK and the US has emphasized the role of the armoury market in the Anglo-American jacket cr bearist system.Shargons and bonds gestate be support abreast rattling plebeian tools of coronation in the smashing system.Investors obtain lucks and bonds in the hope of admitting great gains plus income from their beautifyments.Sh ars protract investors majuscule gains/ spilles and dividends, touch atomic publication 18 truly attractive investment tools for people who ar prep atomic arrive 18d to risk their principle and get slight(prenominal) than the center that they pass water invested.Bonds stomach limited return on investments, Bonds offer investors the identical principle.Financial managers usu wholey liquidate off their contendholders using dickens methodsDividends dividends are theatrical role of the jacket that investors receive in return fo r investing their money in the come with. get by salvation/ redemption some monetary managers get to subvert indorse the copes of the connection if they feel that they political partys characters are undervalued, buying part of the parcel outs bequeath boost the remaining bang-up helping impairments.Over the last twenty five divisions, companies deplete become less prone to distri besidese funds to theatrical roleholders.This nonice competent increase in dividends is accompanies by sell buybacks in the US.Since Margaret Thatcher came to the power in the UK, the United Kingdom has equal a very similar sparing path to the US.These developments in the US shed been followed by very similar developments in the UK.British companies are trying to concent footstep on share salvation kind of than pay dividends.In this assignment, we go out try to find out wherefore companies are heading towards share buyback.2. What hold ins the payout policy of the beau monde? miller and Modigliani (1961) were the first cardinal scientists to challenge that detail that lofty dividends payout leads to higher(prenominal)(prenominal) value of a go with.It is observ fitted that companies payout policy does not fix the value of the keep federation.The reason that made Miller and Modigliani think that the payout policy of the level does not affect the value of the house is that fact that in a frictionless economy investors could correct their decisions dimensionnally with no or minimum stochastic factors.Investors allow be equal to see that distributing too to a greater extent dividends means that the corporation is missing investment opportunities and that its afterlife funds leads go forth be substantially less than now. season if the company retained its gain in redact to invest into projects, investors resulting think that the company has over invested and so that the return on its capital pull up stakesing be substantially less th an the market average.Miller and Modigliani conception that companies could not create the impression that they are go bad than what they are in candor.For several reasons, thither are many people nowadays that do not believe in Miller and Modigliani, one of the feasible reasons for that is the fact that financial markets are not frictionless and investors are not alone rational.In the financial markets, thither are many short-sighted investors that cull to get profit as soon as possible without salaried any real value to the future silver in spring of the firm.But the athletic supporter of Miller and Modigliani argue that institutional investors watch the payout policy of the firm very carefully and analyze the activities of the firm in a very honest counselling so institutional investors do whop the value of the firm exactly.Although Miller and Modigliani do not see any difference in the value of the firm no matter what payout policy the firm follows there are many p eople who think that having high payout policy is much break than retaining funds because high payout policy attracts institutional investors who are able to monitor the company and give a more precise evaluation to the value of the company and its credit quality.Trojanowski, G(2004) thinks that the company is really in ordinary persona I error and type II error dilemma, if the company adapted high payout policy towards so it became cash constraint the company aptitude miss profitable investment opportunity( type II error), but if the company retained cash and invested in unprofitable projects this lead be type I error.Trojanowski, G(2004) thinks that this high payout policy is considered the equipment casualty that should be remunerative to institutional investors in frame to get things right and be able to give precise valuation to the company.There are several factors that determine the payout policy of a firm we can summarize these factors as rating of the companys val ue, imposees, information asymmetries and contract incompleteness.2.1 Valuation of the Firms sharesThe value of the firm itself play a substantial role in the payout policy for any company, if the firms shares are undervalued, companies tend to buyback their share prices in order to tally use of the undervalued share price, this forget improve the share price and foster investors to invest more in the shares of the contingent company. dower buyback play the merger acquisition seismic disturbance on share prices, in the case of merger and acquisition, a company comes forward to buy the shares of an undervalued company, this normally leads to a hike in the share prices of both companies.In the case of share buyback, the company itself comes forward to buy its own shares, this leads as soundly to a hike in the share price.The rise in share prices resulting from share repurchases exit make it more difficult to otherwise companies to buy the shares of the undervalued company bec ause buying the shares of the undervalued company go forth require additional grant.The success of the share buyback help is instanter related to the number of investors who come forward to sell their shares.The number of investors who come forward to sell their shares is related to the price at which the shares were bought.If the price of the bought shares was high and then fell dramatically, the buyback process give not be enough to compensate for the full loss of the invested money Investors will rather prefer to change the care and hold it accountable for the poor results of the company. If the glint in the price of the shares was modest and share buyback compensated the loss that investors have incurred and/or made capital gains, many investors will prefer to sell their shares and that is how the buyback process becomes successful.2.2 TaxAccording to Miller and Modigliani (1961) dividends do not affect the value of the firmThis result is establish on many assumptions tax revenuees,The tax system of any country will affect the payout policy of most of the companies in the world.The research that has been done on this bulge out refers to deuce factsThe first one is that companies tend to change their payout policy if the tax law changed.The second one is that according to Kalay (1982) and Stiglitz, J, E (1983) individual investors do rebalance their portfolios quickly enough in response to tax law changes this naturalise of thought thinks that investors al ports try to follow tax avoidance st regularisegies in order to maximize their riches by dividend launderingIn other haggling, investors will try to put pressure on their company in order to pay them in the most tax efficient way that maximizes their riches and the value of the company. make do repurchases are very attractive way of distributing the profits of the company because they could excrete at any time of the year investors try to put pressure on the company to choose a suitable ti me for most of them.Share repurchases give investors the flexibility and the preference in participations, investors might choose to participate in the share repurchase if they feel that their overall tax liabilities will become less.Investors could defer their tax payments to make their own decision of when to sell in order to maximize their total wealth.Of course, shareholders can sell their shares in the market if they want cash as a tax Advantaged substitute for either share repurchases or cash dividends.In the law, the tax remunerative on capital gains is deferred until the shares are sold whereas any income tax on dividends is paid annually. The deferral of the capital gains tax reduces its present value.Broadly speaking dividends in the UK enjoy a less favourable tax regime than share repurchases which may give rise to something of a Dividend Policy Puzzle.Although dividends do not enjoy the kindred tax treatment that share repurchases have, most of the companies in the UK are slake paying dividends because most of the investors are tax-exempt and companies listen to their shareholders in the UK.This smear will be researched in more detail in the overture sections2.3 Financial StructureWhen companies decide to buyback their shares, they change their financial structure.Share buyback is accompanied with significant debt/ truth ratio.Share repurchase does not only reduce equity but also increases debt.The supplement ratio will increase after the buyback period.The financial structure of the company has a profound impact on the payout policy.In order to ensure how the financial structure affects the payout policy we need to understand the concept pf thrust holders.Block Holders are few poem of investors who own the majority of the shares of the company.The economic literature is increasingly enforcing the fact that block holders could play a positive role in monitoring the performance of the companies that they invest in because they have a big raise in preserving and growing the capital that they have invested. Unlike small investors, block holders power is very important in keeping the counselling of the company doing the outstrip it can in order to maximize the wealth of the shareholders.When companies use share buyback, it is expected that nonage shareholders will sell their shares to the yield company and not the block holders. When that happens, small shareholders numbers will decrease and there power will be less.This will give way the door for bloke shareholders to use their power in dominating what they want without listening to the minority shareholders who have less power in the board room than bloke shareholder.In that sense, we can say that ever-changing the financial structure of the company can have a contradict impact on the minority shareholders who choose to sell some of their shares to the topic company.In many countries such as Germany, France, Italy and Hong Kong, the volume of shares to be re purchased essential not exceed 10% of total shares outstanding. Firms from such countries can accordingly not use repurchase programs to increase their debt-to-capital ratio dramatically and to transit value from debt holders to shareholders.2.4 Cash FlowPublic companies have shares that could be traded on the stock exchange, as illustrated above investors expect return on their investments in the shape of dividends.If the company did not meet investors expectations, share prices will go down.Share buyback happens when the company has cash that is in prodigality of the companys needs.If the company cannot pay its investors good return on their investments, it is conk out to return the money to the investors in the shape of share buyback.Jagannathan, Stephens and Weisbach (2000) showed that companies with excessive operational cash flows tend to distribute dividends while companies with limited operating cash flow tend to repurchase their shares.Companies with temporary excessi ve cash flow tend to repurchase its shares in order to distribute the excess cash flow.Companies with temporary excess cash flow tend to distribute its excess cash because the company wants to smooth its dividends policy, it is not in the companys best affairs to increase the volatility of its dividends because dividends are very important mansion tools that the market use in valuing the shares of the company, when dividends increase because of temporary excess cash and them decrease afterwards one, share prices will become volatile and investors will try to avoid the shares of that particular company.2.5 Agency ProblemThe industrial novelty has contributed significantly to the separation of circumspection from ownership.There is a constant crisis of charge amid circumspection and the shareholders of any universe company.Under perfect conditions, the management is supposed to be contributeing for the best interests of the shareholders, but what happens in reality is some thing polar, the management is constantly trying to maximize its own benefits and wealth on the expense of the shareholders.The relationship amid management and shareholders is not always a cooperative relationship the relationship might well prove to be a competitive relationship.Managers and company directors might misuse the funds of the shareholders directors might use the money of the shareholders in increasing their salaries, pensions and other allowances instead of paying this money to the shareholders in the form of dividends or share buyback.When company directors choose to use the excess funds that they have in buying back the shares of the investors or in other words returning their money, the trust in the midst of the investors and the company directors increases significantly.Share buyback proves that there is a wise management in that particular organization investors will see this move as maintenance to the resources of the investors.Company directors that choose t o invest the excess cash that they have in non-profitable projects will be seen in the financial markets as not reliable investors will know that the top management of that company is not sound.Some school of thoughts claim that share buybacks are bad for the minority shareholders if they are not accompanied with the selling of the shares of the directors.The reason for that is the fact that company directors own shares and share options in the company and if the company made a share buyback, the share of directors and managers in the company will increase and this will open the door for possible misuses.Many economists recommend that share buyback has to be accompanied by the selling of the shares of the directors in order to keep a sound management system in the corporation, Siu, J Weston, F(2002).Finally, Share repurchases can violate the interests of the last majority of uninformed shareholders when only privileged shareholders have information about the exact timing of repurc hase legal proceeding and the amount that the issuing company will purchase.Insiders could use that knowledge to jug of their shares at a higher price than under normal market conditions, IKENBERRY/VERMAELEN 1996.This illegal action would cause a wealth transfer from immaterial shareholders to inside shareholders and if anticipated by outside shareholders should lead to a banish prefigurement effect.2.6 SignalingShare buyback are utilise a signaling tool, dividends convey information about the future cash flow of the company.Motivations are normally in line with shareholders interests this includes the attempt by management to convey to investors that the true value of their corporations equity exceeds its trusdeucerthy market value.Such a signal might be based on managements believe that the true mean of the hazard distribution of the firms future cash flows is unquestionablely higher than perceived by the market or alternatively, that the true variance of future returns i s higher than expected, dimension the distribution mean constant, DANN (1981)We have deuce cases depending on the prices of the financial assets of the company In the first case, all of the firms risky securities appear to be undervalued. In the latter case, only equity claims appear to be undervalued, whereas claims in the form of risky debt might in fact be overvalued.Share repurchases could actually lead to a re-distribution of debt holders wealth to the benefit of shareholders.It is typically fabricated that insiders which are the companys management and directors know a lot more information about the companys cash flow situation than insiders.However, any straight public announcement by the board of directors that it considers its firms shares to be undervalued mainly lacks credibleness because there might be other hidden wants to the management. away(p) investors cannot distinguish among true and misleading announcements because they do not have all the information ab out the company.They will perceive of all undervaluation announcements as try to hide the truth about share repurchases unless the company produces deduction that undervaluation is the real motivation for share repurchases. Share repurchase announcements cause two types of exists to overvalued firms. Firstly, firms that repurchase overvalued shares must understand that the share price will decline to its true intrinsic value as soon as possible, so that the company would have paid too much for its shares.Secondly, firms that announce to repurchase shares but then decide not to do so might see their general reputation for honest capital market communication deteriorate because the companys public relations term with the company will be shaken. Depending on the legal and regulatory restrictions for share repurchase programs, such firms also risk that governance initiate investigations of price manipulation.Given these potential costs, share repurchase announcements can be used a s a clear signal to enhance the reputation and the credibility of an undervaluation signal.Such credible signals should then lead to an appreciation in stock price and benefit the investors who are welling to sell their shares.Share buyback will convey a message to investors that the company has few good projects (NPVShare buyback indicate that the financial situation of the company is not unfluctuating enough in order to meet the expectations of the investors.When the company chooses to pay its investors by distributing dividends, it gives the signal that it has many good projects (NPV0), and the company believes that it could create capital gains to investors without desire refuge to share buyback.2.7 Employee incentive plansThe company might seek to purchase its own shares in order to finance its employee incentive plans.In the afoot(predicate) capitalist system, many companies realized that empowering employees is the best way to align the interests of the employees with the interest of the company.Through the history, the management and the employees were always at odds and that caused many strikes and repugn within the company.Many companies found out that the future organizations of the companies should depend on self-aggrandising employees the initiative and turning them into an asset rather than brassing at them as a liability or an expense.This process has been triggered by the understructure of new technologies that enabled top managements to cut the kernel management and give the authorities of the middle management to the employees that the technology will help them to perform their tasks in a more efficient way without the direct supervision of the middle management.This process could not be achieved without giving employees shares in the company and make them real partners in the organizations.When employees get share of the profit they will forge harder than before and that will benefit the whole organization and the society.Share repu rchases are one of the best ways to turn the employees into an asset since share repurchases happen when the share price is relatively cheap, share repurchases provide a very cheap way to finance the employee share scheme and create a wholly new organization that depends on mutual trust between management and employees rather than struggle between them.2.8 interchangeable bonds executionConvertible bonds are defined as bonds that pay a regular verifier for their buyer, the price of bonds will depend on two main things interest rates and credit quality of the issuer.Convertible bonds combine the feature of bonds and shares at the same time.We all know that companies give their investors the option to modify their bonds into common shares at any time they want in order to make their bonds more attractive to investors and give investors the flexibility in choosing the investment tools that they fancy suitable to their investment strategy.We all know that shares and bonds are two di fferent products that offer two different profit and loss opportunities.Most of the times, shares and bonds markets work at odds. When interest rates are low share prices search to be a better investment opportunity than bonds because they offer better return on investment.When interest rates are high bonds bet to be a better investment opportunity than shares because they offer better return on capital.Many companies encourage investors to invest with them by giving them the option( this option is called call option) to convert their bonds to shares.When the company has a shortage of shares the company will have to buy them directly from the market in order to meet its investors requirements of converting bonds into shares.2.9 Trade sharesTrading shares might be the motive for share repurchases in the UK and elsewhere in the developed world.When the market is get down and the share prices consider less than their fair value many companies will employ to buying their own shares in order to sell them posterior at a higher price.When big companies believe that their shares are under-estimated, they invest the excess cash that they have in themselves in order to encourage more investors to buy their shares and when the market prices of the shares goes up the issuing companies will resell them at profit.Investors will benefit from this share repurchase by two waysInvestors will be able to sell some of their shares at higher price and make profit from that.Investors will benefit from the higher dividends that their company will pay them as a result of re-selling the shares at higher price. Share repurchase might aim as well to reduce the volatility of the share and stabilize its price.Share trading s not as easy as it might seem, there are regulations that govern the ability of the company to buy/sell its own stocks.2.10 enter sharesThere are two reasons to deflowering sharesThe first one is to change the ownership structure and the second one is to increas e the wealth of the shareholders.Change the ownership structureWhen the company buys its own shares in order to destroy them, it destroy with the shares the voting right, we all know that owning one share means owning one vote, this means that destroying one share means destroying one vote.According to Pindur, D Lucke, M (no date given) the management might find it very cost effective to have homogenous shareholders rather than heterogeneous shareholders, thats why the company offers share repurchases and destroys shares.In that case, the company will offer investors what is called a controlled premium, which is a premium that is paid above the market price in order to lure investors to sell their shares.Wealth creation for investorsThe best measure to wealth creation is the Economic honour Added Economic Value Added is defined as the operating after tax profit negative a charge for the opportunity cost of the invested capital.When the company wants to maximize its shareholders w ealth by buying and destroying the shares directly from the market the company will resort to the following measuresDecrease the plodding average cost of capital (WACC) we all know that the charge average cost of capital depends on two major elements which are shares and bonds the average cost of bonds is the interest rate that is paid to the bondholder, the average cost of shares will depend on the risk premium that is required by shareholders to compensate them for the risk of losing their invested principle when the company buys its own stock it reduces the weight of equity in the mix of capital, so the weighted average cost of capital will be less and that is how the wealth of the shareholders will increase if the company bought the shares from the market and destroyed them diminution the weighted average cost of capital means that producing the same profits or more with less costs of capital, this is a real sign of rise in the situation of the company, the issuing company h as to be careful that reducing the number of outstanding shares might mean that share prices will go up in order to satisfy the demand on the shares of the company, peculiarly when shares get less, the dividends get better, this might increase the demand on shares, that is why management is always advised to reduce the amount of shares and debt in the same percentage in order to leave prices of shares and bonds relatively stable, the opposition to share buyback comes from debt holders especially those with unsecured debt, the reason for that is the fact that when shares decreases this means that capital has decreased and this means that if the company went bankrupt there will be no enough capital to cover the value of the debt, while shareholders will be the least losers from bankruptcy, again that is another reason why companies are advised to buy shares and bonds at the same time and keep its leverage ratio stable during the time, A third and final reason for advising companies t o buy shares and bonds at the same time is the reason that many companies offer sofa bed bonds which could be converted at any time to sealed number of shares, if the company did not buy shares and bonds at the same time and share prices went up, sofa bed bond investors might find it more profitable to convert their bonds to shares and in this situation the company will find itself in front of two options the first one wither buying more shares to convertible bond investors from the market and that would mean paying high prices for them or issuing new shares again and that would make share repurchases pointless.Increase the return on invested capital (ROIC) this idea is very related to what we explained before about type I error and type II error, in other words the company will take decisions regarding the best investment opportunities that are available, it is assumed that the company will select the projects that maximize the return on invested capital and return the excess cas h to the investors in the shape of share repurchases, this process will maximize the return on equity to the maximum, we all know that the borderline propensity to capital will increase rapidly at the beginning of the investment and after that the amount of increase will de-accelerate until it the marginal propensity to capital reaches zero and then it starts to decline. Increase the growth rate when the right amount of capital has been allocated to the most profitable projects the growth rate of the company should be maximum.2.11 Legislative reasonsSometimes companies in a particular country find very difficult to repurchase their stocks even if there is tax benefit from repurchasing the stock rather than distributing dividends.In the US for example, companies did not repurchase their shares until after the mid-eighties.According to Grullon, G Michaely, R(2000PDF page 5), one of the possible reasons for that is the risk of violating the anti-manipulative provisions of the Securiti es Exchange Act of 1934, Indeed, after the SEC follow a safeharbor rule (Rule 10b-18) in 1982 that guarantees that, under certain conditions, this agency will not file manipulation charges against companies repurchasing shares on the open market, repurchase activity experienced an upward structural shift.Grullon, G Michaely, R(2000) says that one year after the change of the SEC rule the amount of earnings that have been distributed as share repurchases tripled.In Germany for example, share repurchases are still very difficult because they need the approval of the shareholders that should be got in the Annual General Meeting.We can see clearly that regulation is a very important too in encouraging and discouraging share repurchases.2.12 Dilute earningsMany analysts think that share options have helped in aliening the directors interests with the interests of the shareholders but few people investigated how stock options change the behavior and quality of directors to distributing earnings. There is increasing evidence that executive compensation that is usually give in the form of stock option has a lot to do with share repurchases in the UK and the US.Accounting rules make compulsory on companies to reflect the value of the stock options that are given to directors and managers.We all know that committal to writing an option on the shares of the company is equivalent to increasing the number of the outstanding shares.When company directors want to exercise their options, there need to acquire actual shares of the company and that would make simoleons per Share less for everybody that is called diluting the earnings.Earnings per Share are the total earnings divided by the number of outstanding common shares and common shares equivalents.When earnings per share become actually less the company will try to repurchase the shares from the market.Earnings per share will not only be less but also will cause a decline in share prices later on because EPS is use d in valuing the shares.The cash that is actually used to repurchase the shares will not be deducted from the total earnings and that the company will keep its total earnings unchanged after the repurchase of the shares from the market.In order to illustrate this point further, there is a difference between EPS and diluted EPS.Diluted EPS is the total earnings of the company subtracted from the cost of share options and warrants divided by the number of outstanding common shares and equivalents.When analysts value shares they look at EPS but not diluted EPS.After share repurchases, EPS will be the same as before share repurchase EPS.So companies try to repurchase their own shares because they try to hideout the cost of share option costs.If we look at the empirical studies that have been done in this area we find that most of the studies found a correlation between stock repurchases and executives share options.According to Lambert, Lanen, and Larcker (1989), Option grants in genera l are associated with increased payouts and decreased earnings retention.The larger is the executives holding of stock options, the more apt the firm is to retain more earnings and curtail cash distributions.This purpose is consistent with Fenn and Liang (2000) that there is a well-documented finding of negative relationship between dividends and managerial stock options and.The relationship does not appear to be explained by differe

Effects of Streaming on the Music Industry

returns of blow on the melody diligenceIn the past couple of long time, menstruum has become iodine of the main ways to listen to melody. With be adrift is it having an Effect on the music assiduity that we have come to know of. This layer has many Positive and Negative statement about the effects on the music constancy.Some of the main be adrift Sites or Apps are Spotify, Pandora and apple Music. With these drift sites, many of the CEOs believe that their apps have helped the music perseverance from divergence into a decline in about of its sales. Or Artists believe it is service of process the profile platform for Musicians.Results from streaming in the past couple of years are that the rates of piracy have heavily declined because of Apps like Spotify and Pandora. Spotify has been one of the main impacts on the music patience from 2015, Due to its free subscription to stream music.CEO of Spotify Daniel Ek, claiming Now, finally, after years and years of decline , music is growing again, streaming is behind the growth in music, and Spotify is behind the growth in streaming.(Hassan, C, 2016)Lars Ulrich drummer of Metallica believes Streaming is a costly way for musicians and artist to get a high profile on themselves. He also states Its a prime(prenominal) for the sports fan to be part of, its a choice for the artists who are involved in making their music available on streaming services. Its a choice by the record companies that represent the artist. Fifteen years ago those choices didnt exist.(BBC news) just now besides all these Positives there have been many negative remarks on the topic. When Apple music did their 3-month free trial, the apple artist wasnt actually acquiring paying(a) for the music that the members were streaming. Which has made a contri alonee to Taylor Swift draw her music off of Apple music because of a high ground disagreement over payment.Payment is also a factor that most people disagree with when it comes to Spotify or Apple Music. When a some is vie on Spotify it has to be running for more than 30secs for the artist to get paid which throne go from $0.004 for the smaller artist to $0.0084 for the well-known artist. Which in remnant has made some famous artist non-eager to join Spotify.In the US the revenue for music sale has been hovering are $7Bil since 2010, which only went up by less than one percent from 2014 to 2015 to $7.02Bil. With this, Cds and Downloads have started to become abounded as streaming has now risen to become one of the number one platforms for music listeners.With all the contributing statements Does streaming effect the music industry you can tell that most people are with thinking that it is positive or negative, but you do get people who think that it is both with good reason to back themselves up. in future years to come get out we see a drastic change in the music industry thanks to streaming?.BibliographyHassan, C, 2016 Spotify CEO Claims the Music In dustry Would Be d.o.a. Without Spotify http//www.digitalmusicnews.com/2016/02/17/71963/Jones, R, 2016 Online Streaming drives increase in Australian Music Industry http//www.abc.net.au/news/2016-04-11/online-streaming-drives-increase-in-australian-music-industry/7314660Sisario, B Russell, K, 2016 Music sales remain steady but lucrative cd sales declineIs streaming good for Music 2015 http//www.bbc.com/news/entertainment-arts-33526045Iahn, B Streaming effect on the music industry https//themusicuniverse.com/streamings-effect-on-the-music-industry/Wolf-Mann, E, 2015 Spotify Music Industry Revenueshttp//time.com/money/4086968/spotify-music-industry-revenues/University, A, 2016 How streaming is changing the music industry http//au.blogs.american.edu/audio-technology/how-streaming-is-changing-the-music-industry/Ellis-Petersen, H, 2016 Streaming revenues bring big boost to global music industryhttps//www.theguardian.com/music/2016/apr/12/streaming-revenues-bring-big-boost-to-global-mu sic-industry

Relational Model Defined By Codds Twelve Rules Computer Science Essay

Relational Model Defined By Codds xii regulations Computer Science EssayThis report tries to explain what Codds dozen find 1selfs authority. And by comparing MySQL with comparative computer simulation as dressd by Codds dozen districts, this report also gives an abstract shot on how MySQL observe with Codds 12 reins. This report is based on MySQL 5 InnoDB engine.Edgar F.Codd is famous for his contribution to relational model of infobase in 1970s. However, in 1980s the term relational was apply by many selective informationbase vendors to describe their database products which whitethorn not comply with the model that Edgar F.Codd has proposed. In order to clarify his model of relational database, and domiciliate wad a simple standard that finish indicate to what extent a database softw be conforms to his model, the Codds Twelve regains were propose.There are 13 rules in Codds Twelve Rules. Our textbook omits the first one,rule 0, so this report volition start f rom the sulphur one in Codds rules, rule 1.Rule 1 The Information RuleThis rule overlooks altogether data in relational database management placement(Rdatabase management system) should be caudexd as assesss in tabularizes at ordered level. Some database management system riding habit Key-Value to store data, Redis for example, which contradict the Information Rule, so these database management system will not be regarded as relational DBMS.MySQL dose store on the whole data in the form of hedges with values in columns of rows. Users squirt but access to values that are stored in tables. Even the data descript the database itself is store in tables, i.e. table tables in Information schema stores the description of all(prenominal) in all the tables that select been created. So, MySQL meets the requirement of rule 1.Rule 2 The Guaranteed Access RuleUsers moldiness be able to access to values by providing table name, the value of principal(a) key and the name of the co lumns. In an opposite word, the DBMS should comport primary key in tables and enforce each tables contains primary key in order to prevent data duplication.MySQL does support to define primary key in tables. Yet, users sens also create tables that dont have it. For example, create one table has columns a and b without primary key. In that circumstance, there may be several rows that has the same value in column a , preventing users to access to the value of column b in the row he exigency. So, MySQL does not fulfill the requirement of Rule2 and it gives user more flexibility by accepting tables without primary key.Rule 3 taxonomical Treatment of fruitless ValuesThe database must support zilch as a value other than 0 or empty string, as a representation of data missing or inapplicable. And the database can bear overbearing way to manipulate NULL value.MySQL fulfill this requirement by supporting NULL value and treat it in a systematic way. In MySQL, NULL is supported and i s regarded as missing data chase ANSI/ODBC SQL standard. MySQL implements ternary logic. Users can not compare values with NULL, even NULL with NULL by using =, because NULL is missing data. The results of those compares are unknown. MySQL provides IS NULL and IS NOT NULL statement in order to treat the compares with value NULL.Rule 4 Active online catalog based on the relational modelData dictionary of one DBMS should be stored as universal data in the form of tables. Authorized users must be able to using the head verbiage (SQL for example) that they used to query ordinary data to access to database catalog or social system.MySQL stores database catalog data using tables the same way it store ordinary data. These tables are in system database such as Information_schema. For example, table tables in Information_schema contains entropy about all tables in MySQL, like TABLE_NAME, TABLE_TYPE. Authorized users can use SQL to query this table in order to access to data catalog o f current tables. So, MySQL rise implements this Rule.Rule 5 Comprehensive data languageThe DBMS must support at least one language that can be used directly by users or within application queries. This language must also supports all aspects of database use including data (view) explanation, data manipulations, equity constraints, securities and transaction managements. SQL is a language that is comprehensive enough to support all these requirements. So, any DBMS that implements ANSI/ODBC SQL will comply with this rule.MySQL follows the ANSI/ODBC SQL standard, yet there are several differences between them in several cases. The difference can be seen in documents of MySQL. All these differences are just about statement syntax, i.e MySQL doesnt support select into table, users should using Insert into select to do the same works. precisely after all, all database use in MySQL can be implement by using SQL regardless of whether the syntax is contrastive from standard SQL. So, MySQL fulfills Rule 5.Rule 6 View UpdatingThis rule means that the rescript that user makes in a view will result in the alteration of tables from which the view is created, if this view is theoretically updatable.In MySQL, many theoretically updatable views can be updated, yet, there are many limits. For example, due to the supporting of MySQL, delete and update cannot be used to update a view that has more than one underlying table. So, MySQL does not fulfill this rule.Rule 7 The RDBMS may address individual records but it must primarily handle sets of recordsThis rule means users can use one champion ensure to query, insert, delete and update sets of values in aggregate rows or ninefold tables.MySQL can handle operation of multiple rows in one table. Because it uses SQL, that has commands that can handle operation of sets of records, as its data language. For example, MySQL can insert multiple records with this statement, INSERT INTO table_name (a,b,c) VALUES (3,4,5), (6, 7,8). But MySQL cannot handle operation of sets of records that are from different tables in one command. But users can also handle this event by using transaction that containing a series of SQL commands. So, MySQL implements this rule by allowing user to operate command on multiple rows in one table, while does not support operation of multiple tables in single command.Rule 8 Physical Data independencyThis rule means that alterations that have been made to database in sensible level, for example, export one database, and splay it in another computer will not result in the changes in logical level. And users can still access to the data without altering their commands.MySQL can export one database by creating back up data file. This file can be restore by MySQL in another computer. The physical underlying of this database has changed while the table structure will not be changed and users can access to this restored one without any adjustment on their queries. So, MySQL does pr ovide some extent of physical data independence in InnoDB engine. However, if users want to change the store engine of a table from transactional one to non-transactional, the logical level will also change. In sum, MySQL provide physical data independence in InnoDB engine, but changing the store engine may result in change in database logic.Rule 9 ordered Data IndependenceThis rule means that the changes of logical level in the database will not lead to changes of queries that based on spring structure. For example, users can split one table into two, while use the same query as before.In MySQL, adding columns to a table will not require changes in application or queries that are base on the structure of this table. However, other changes of logical level, such as combine two tables into one, may call for an alteration of the application based on the structure. So, MySQL does not comply with this Logical Data Independence rule.Rule 10 Integrity IndependenceThis means that onenes s definition of data in one DBMS should be regarded as one part of data dictionary, and be stored in the same form as ordinary data. This also requires that this integrity definition can be access by users using language, SQL for example, to query, define or alter the integrity independence.MySQL fulfills this rule. It stores data dictionary in tables in information schema. For example, the column COLUMN_KEY in the table COLUMNS defines whether this column is primary key or has other constraints. And KEY_COLUMN_USAGE table defines which key columns have constrains. Users can access to integrity definition data by query these tables using ordinary SQL statement.Rule 11Distribution IndependenceToday, many DBMS introduce the move to using distribute data in different locations. However, due to this rule, where this data be distributed and how DBMS manage them should not be visible to users. Users can use the data in the same way as they use data that been stored in one place.The InnoD B engine does not provide the exponent to store data in different locations. MySQL has a distributed engine called MySQL Cluster. In InnoDB engine, MySQL introduce XA Transaction which is based on X/Open XA stipulation since 5.0.3. This specification provides users the ability to employ multiple resources in one transaction. However, users must know the underlying works, and if the structure of the distributed DBMS changes, the XA Transaction statement may also need to be adjusted. So, MySQL does not comply with the rule 11.Rule 12 The Nonsubversion RuleSometime the DBMS provide API or other low-level interface for users to handle complicated transactions. However, those interfaces must not perish all the rule above and bypassing integrity constraints and security.MySQL provides APIs for different applications or programming languages as low-level interface. There are back doors in them, custom command SHOW for example. However, these backdoors are only maintained for the compatib ility with the former edition.SummaryIn Sum, due to the comparison between MySQl and Codds rules, MySQL implement more or less of these rules, though there are still some limitations. It can be regarded as a DBMS that is relational.

Benefits Of Developing Conservation Strategies Environmental Sciences Essay

Benefits Of develop saving Strategies Environmental Sciences EssayIncreases in the homophile population and humiliation of habitats pitch caused umpteen species that were formerly common to decline to near out(p)ion. As a result, we have become increasingly involved in attempting to defend populations of r be or threaten species (Deborah T., 1987). Over the last two decades just about all arguments about nature preservation have involved the f atomic number 18 of biological diversity and representations to p reliever it. These discussions culminated in the 1992 Convention on Biological Diversity and its implementation (Glowka L, 1994). The saving of biodiversity is a vast undertaking, requiring the mobilization of existing data, huge amounts of new information, and the monitoring and focusing of wildlife on an unusual scale (Malcolm L. Hunter, 2007). The biologists ar fairly skilled at looking at the big picture, at seeing forests not just trees. They understand that we gagenot remark genetic diversity without maintaining species diversity and that we apprizenot maintain species without maintaining without ecosystem diversity (Malcolm L. Hunter, 2007). In addition, the coat of a habitat and the number of species it can support atomic number 18 systematically link. Physically larger species and those living at lower latitudes or in forests or oceans be more sensitive to reduction in habitat celestial orbit (Drakare S, 2006).Therefore, imperil species conservation requires many lines of inquiry to fork over the usher required for a holistic approach to conservation planning (Sutaria D 2009). conservation biology is reforming around strategic plans that include principles, guidelines, and tools for the purpose of hold dear biodiversity (M. E. Soule, 1986). Conservation biology is crisis-oriented and multi-disciplinary, including ecology, social organization, education, and other disciplines outside of biology (F. wagon train Dyke , 2008). Preserving biodiversity is a globular priority in strategic conservation plans that are designed to engage public policy and concerns affecting topical anaesthetic, regional and global scales of communities, ecosystems, and cultures (Gascon C., 2007). Action plans identify ways of sustaining human fountainhead-being, employing inwrought capital, market capital, and ecosystem go (G. W. Luck, 2003). A system, simply defined, is a set of actions that a conservation plan implements to reduce threats, capitalize on important opportunities. Examples of strategies include building the dexterity of local law enforcement, educating schoolchildren about wildlife, and developing alternative livelihood options much(prenominal) as ecotourism. One could say that the conservation of peril species to be effective, approximately(prenominal) biological and social elements of the conservation process mustiness be considered as a basic for minimizing threats (Beasley L. 2007). This essay will discusses about evaluating the conservation cost and benefits of developing conservation strategies focusing on species, then habitats and finally on the preferences.Biological species tigers, thoterflies, trees, frogs, whales, and so on are integral to nature they are the players on the stage species and their interrelationships, including the relationship to people. Many of the closest relationships human beings have established with nature are based on species (IUCN, 2008). There are several strategies that are beneficial for species and human. One of several strategies is the Opportunities for Debt Investment in Environmental Conservation. By combining microfinance add approaches with performance-based payments for conservation of milieual assets, long-run incentives for environmental conservation and sustainable stinting ontogeny can be coupled. For example, migrant species like loggerhead and leatherback sea turtles suffer from a suite of human impacts, incl uding harvest of eggs and adults on nesting beaches across many Pacific island nations and mortality from industrial fishing on the high seas. These species are at a critical point, it has been estimated that loggerhead turtles whitethorn be extinct in 50 years. Some governments have taken steps to pick at impacts on marine turtles by limiting coastal development and ordinance fisheries, at some cost to the public and private sectors. Investment in endangered species convalescence in low-income countries can deliver local benefits, such(prenominal) as increased opportunities for sustainable harvest, nature-based tourism or other non-turtle related frugal activities, as puff up as monetary and non-monetary dividends back to governments .There are a number of dominance advantages with using debt investment as a tool for environmental conservation. The program is aimed directly at improving livelihoods and lending can be targeted at reducing unsustainable resource use, an enviro nmental owe program could directly address the alleviation of poverty. In some instances local people are as move, or even more motivated than conservationists to cheer the animals in their homeland, especially when they represent a valuable resource for nutrition or commerce. But for some communities, it comes down to protecting animals that are as much a part of a hostile environment as drought or fire (C. Josh Donlan). As with African villagers expected to protect an elephant herd that continually annuls their crops and leaves them hungry without a essence of generating income. For example, when villagers living in or near a game reserve are told by authorities that they cant hunt an animal because it is endangered even as they are struggling with hunger. Although, the African elephants are defend by CITES (Kimbra C, 2010).Habitat change is another cause for animal endangerment. Without a large enough area to breed and hunt, animals have no way to survive. Climate changes in like manner cause risks to animals. With the planets surface warming up, some animals are forced to move to other areas in order to find food and breed. From this problem, the US Fish and Wildlife Service have been promoting the use of habitat conservation plans which allow some loss of endangered species habitat in deepen for activities which minimize and mitigate for the loss. These plans have come under increasing reprehension from environmentalists and conservation biologists who argue that the plans are contributing to the continued loss of endangered species habitat. The habitat conservation planning provisions were modeled on an try to go under a dispute over protection of habitat for two endangered butterflies on San Bruno Mountain in San Mateo County, CA. The San Bruno plan allowed for the loss of some butterfly habitat in exchange for the permanent protection and management of much of the habitat on the mountain for these species. This paper proposes that palliatio n banking of endangered species habitat may provide a useful tool to resolve endangered species conflicts on private lands period concurrently advancing the recovery of endangered species. Mitigation banking would allow landowners seeking a permit to destroy endangered species habitat to mitigate the loss by buying mitigation credits from other private landowners who restore and or protect fitted habitat. Mitigation banking has the dominance to increase mitigation alternatives for the regulated community while providing a needed economic incentive for other landowners to restore and protect important habitats. From an ecological perspective, mitigation banking could allow for the exchange of fragmented habitats with lesser long range viability for habitats that are strategically located and can hold to species recovery (Robert B., 1999). This is a schema in US to preserve habitat for species conservation. Another exam is in the South East Asia. The strategy habitat conservatio n is under Mekong Wetlands Conservation and Sustainable Use Program, Floodplain and wetland areas which are flooded part of the year or which expand greatly in area during the flood season can produce much farther more aquatic resources than permanent water bodies of the same size, such as lakes and reservoirs. In fact, according to Ringler and Xai (2006) subjective wetlands are amongst the most productive ecosystems in existence and the benefits from wetland products are often considerably higher per unit area than from other land uses. The benefits in terms of the regional fishery and other aquatic resources have already been considered and identified as huge, but wetlands also provide a wide range of additional ecological goods and natural services as specified. These include physical benefits such as natural flood storage and flood attenuation, improved water fictitious character done pollution control and waste dilution, habitat provision for resident and migratory species and the maintenance of important biochemical equilibrium. For these and other related reasons, the economic benefits generated by wetlands and the economic costs associated their degradation or loss are normally unknown and omitted in project and policy analysis. As a result, the potential of wetlands to be used as contributors to economic growth, income generating activities and as sources of goods and services has been underestimated in many parts of the world resulting in the loss of valuable species, services, and livelihoods. The strategy can help a diversity of wildlife habitats to be successfully real on restored or constructed wetland sites because ecosystem function can be restored to degraded or impacted wetland areas. Restoration can rapidly establish a horse barn biological community, including invertebrates and tarnish microorganisms. A good cover of fast-growing annual, as well as perennial, vegetation can be established inwardly the first year. Within three years, a wetland restoration effort can produce a diverse community of desired plants and animals. In addition, constructed wetlands can be very effective in improving water quality in downstream waters. Constructed wetlands are effective in removing or stabilize sediments, metals, and organic contaminants. However, although constructed wetlands may function as sediment retention systems, undue amounts of sediment can reduce function over time. In addition, contaminants immobilized in upstream sediments are not eliminated by downstream constructed wetlands. These contaminants remain in place unless they are removed using a separate redress technology, such as phytoremediation or physical removal (Ken W.)However, the founding Conservation system was aimed at policy-makers, development practitioners and conservationists. It defined conservation in human terms as the management of human use of the biosphere so that it may yield the greatest sustainable benefit to present generations while maintaining its potential to meet the needs and aspirations of future generations. For development to be sustainable it must take account of the social and ecological factors as well as economic ones of the living and non-living resource base and of the long-term as well as the short-term advantages and disadvantages of alternative actions(Seema P). The World Conservation Strategy (1980) is think to stimulation more focused approach to the management of living resources and to provide policy guidance on how this can be carried out. The aim of the World Conservation Strategy is to achieve the three main objectives of living resource conservationa. to maintain essential ecological processes and life-support systems (such as soil regeneration and protection, the recycling of nutrients and the cleansing of waters), on which human survival and development dependb. to preserve genetic diversity (the range of genetic sensible found in the worlds organisms), on which depend the functioni ng of many of the in a higher place processes and life-support systems, the breeding programs necessary for the protection and improvement of cultivated plants, domestic animals and microorganisms, as well as much scientific and medical advance, adept innovation, and the auspices of the many industries that use living resources.c. to ensure the sustainable utilization of species and ecosystems (notably fish and other wildlife, forests and grazing lands), which support millions of rural communities as well as major industries (world resource strategic).Although, the WCS emphasized the integration of environment and conservation values/concerns into the development process. In addition, caring for the earth A Strategy for Sustainable Living elaborated the Brundtland theme, integrating environmental/conservation, social and economic imperatives and elaborating principles for their practical integration (Barry Dalal-Clayton, 2002). In the other hand the WCS The World Conservation S trategy was frequently criticised for being concerned mainly with ecological sustainability preferably than sustainable development( Barbier, 1987). distinguishes two strands of debate at this time about economic development one focusing on basic needs with vehemence on helping the poor the other stressing that real development was unrealizable without consideration of the environment and without taking into account local social and ethnic values and enabling stakeholder participation (Barry Dalal-Clayton, 2002).Even nowadays, it is understood that the conservation strategy is the foundation necessary to be indispensable, if mankind has to have the well-being and security forever. But while we are awarding of the importance and necessity of these biological resources, one of the things facing humanity across the world and is becoming increasingly serious is the loss of biodiversity. Especially in tropical regions which are plentiful source of this important natural resource. Th e conservation strategy should combine twain biological and economical, as the Opportunities for Debt Investment in Environmental Conservation which find debt and conservation turtle together. This way not only protect the species but also help the raise revenue in community where they protect the species for sustainable.

Against Standardized Testing Essay -- Standardized Testing Essays

There seems to be a dilemma in the educational system. In order to clear funding, a school system has to runnel its students annually.These tests be supposed to time the progress of the students and theschool system. But what is really measured with these scores? What do theyreally mean? Should children be tested as frequently as they are? And mostimportantly, should the ability to pass on to another mark off or to graduatefrom high school be ground on only one test? With so many questions arisingfrom these tests, the answer is to behave a stand against them.Perhaps a brief history will provide a better understanding of the standardizedtesting system. In the 1980s, the National Governors Associationpushed for verbalises to have performance-based obligation of their schoolsystems. Basically, states would grant schools more than flexibility in what andhow they chose to teach in return for more accountability for academicbasedperformance. In 1994, Title I, the largest federally funded educationprogram (http//www.doe.mass.edu), actually require that all states createperformance-based accountability systems for schools (Elmore 2). Now,with the introduction of the Bush administrations No sisterren LeftBehind, all states are required to annually test their students in order toreceive federal grants (Romano 1). In Bushs attempt to make sure that ourschools are held to a high standard, he is threatening their funding basedon their students performance. Not only are students grade advancementsand sometimes graduations dependent upon these tests, but so is the fundingfor their schools as well. Teachers can be dismissed or schools shutdown based on test performance. No pressure there, kids.W... ...ardized tests. Utahs officials were spontaneous to lose $76 million dollars infunding by decision making not to follow federal testing standards (Quindlen 2). Ifwe take a stand, is your state ready to be next?Works CitedElmore, Richard F. Testing Trap. Harvard Magaz ine. 11 November 2005. http//www.harvardmagazine.com/ print/090240html.Massachusetts Department of Education. Massachusetts Government. 11 November 2005.http//www.doe.mass.edu/Quindlen, Anna. Testing One, Two, Three. Newsweek. 19 June 2005. 4 November2005. http//www.msnbc.msn.com/id/8099819/site/newsweek/page/2/print/1/displaymode/1098.Romano, Lois. Test lots Move Little in Math, Reading. Improvement Appears SlightSince No Child Left Behind. 20 Oct. 2005. Washington Post. 1 November 2005.http//www.washingtonpost.com/wp-dyn/content/article/2005/10/19/AR2005101900708.

Drawings for King Lear :: William Shakespeare Plays Literature Essays

Drawings for female monarch LearWhile in Paris in 1843-4, Ford Madox Brown sketched a set of eighteen pen-and-ink studies for King Lear. devil designs he later developed as consummate paintings--Lear and Cordelia (1848-49) and Cordelias Portion (1866)--and a third he turned into an oil-sketch, Cordelia Parting from Her Sisters (1854). Sixteen of the drawings were shown in 1865 at his Picadilly Exhibition, and Brown wrote the captions that appear below the drawings for the exhibition catalog. The sixteen sketches with captions are have by the Whitworth G on the wholeery in Manchester, and the two without captions are in the metropolis Museum and Art Gallery of Birmingham. The drawings are done in pen and mahogany ink over pencil on paper they are near 11 x 14 inches in size.The idea of a serial such as this was not original with Brown the German artist Moritz Retzsch had completed his series of outlines of Shakespeares defends (1828-46), which included a series on King Lear, a nd Eugne Delacroix had published his series of thirteen lithographs for Hamlet in 1843, a year before Brown executed his drawings. Critics think Brown knew the oeuvre of both artists and was influenced by them.Brown regarded these sketches as no more than outlines, penning in the catalogue that accompanied his 1865 retrospective exhibition that they were never mean but as rude first ideas for future more finished designs (19). Despite their unfinished quality, they powerfully evoke what Lucy Rabin describes as a mistily remote historical period (52), a time represented by Shakespeare as post-Roman but still pre-Christian. Ford Madox Hueffer, the painters grandson, suggests that the crudity of the sketches was, in fact, deliberate--Browns travail to portray in bold, almost flat designs the barbarity of Lear and the era in which he lived (53).Brown reveals in these simple depictions an understanding of King Lear that outlying(prenominal) surpasses anything the critics had to say about a play that was not at all popular in the nineteenth century. Charles Lamb observed early in the century that Lear is essentially impossible to be represented on a stage, and at the end of the century--as in, for example, a review of Sir Henry Irvings King Lear at the Lyceum Theatre--the critics were still quoting Lamb and asserting that King Lear would not be tolerated for an hour if produced without the name of Shakspere (Illustrated London News 101637). Small applaud that Sir Henry Irving was reportedly nervous and anxious when he produced this unpopular play at the Lyceum in 1892.

Gun Control Essay -- Constituton Bill Rights Right To Bear Arms

The people of the United States of America are given special propers that are guaranteed in the Constitution - The Supreme Law of the Land. The Second Amendment of the Constitution declares, A well regulated Militia, being necessary to the security of the free state, the right of the people to keep and bear Arms, shall not be infringed. People whitethorn have this right, however advocates of gun control believe guns are overly risky. Opponents of gun control claim guns have protected them in a self- demurrer situation. crampfish control is defined as government limitaion of the bargain for and ownership of firearms by the Columbia Electronic Encyclopedia. Opponents of gun control train that the right to bear arms is guaranteed to all citizens by the Second Amendment. Owners of handguns and former(a) firearms debate that weapons have protected them and their loved ones from the harm of criminals. Moreover, the study lead Association (NRA) argues that although owning a gun re quires a license, criminals are still able-bodied to get their hands on firearms. In other words, just because a great number of people own guns legally for private use, this does not stop criminals from obtaining guns. Second, the proponents of gun gun control say self defense is not a good enough reason for not modulate firearms. Studies on gun control have shown that family members were more likely to be wounded or even killed by other family members than by a potential attacker or intruder. In addition, gun control advocates point out the fact that the firearms owned by licensed people are more likely to cause them harm than protection. The two sides have put in themselves in a heated debate over this issue. However, public faith tends to lean strongly towards gun control. Acco... ...uld live with. Related LinksThe National Rifle Association Handgun envision, Inc. and The Center to Prevent Handgun emphasis The Brady Bill The Gun Control Act of 1968 Firearms Policy Journal ReferencesAdams, Kenneth. Guns and Gun Control. A National Public Opinion Survey, pp 109-124. (Sociofile) After Brady. The New Yorker. celestial latitude 13, 1993, volume 69. P 4+. Broylis,Hiram. Gun Control or Media Control ? Chicago Defender. March 25, 2996 p.2 SMS Reference Library. Version 3.0. CD ROM. Mindscape, Inc., 1995. Sugarman, Josh. NRA Money, Firepower, and Fear. Washington DC National Press Books, 1992. Weiland, Bob. Choice of Weapon . Gun Goofs in sport Media. July 21,1997 Intron Publication, Netscape p.1 Weir, William. A Well Regulated Militia The Battle everyplace Gun Control. North Haven, CT Archon Books, 1997.