Wednesday, January 22, 2020
William Butler Yeats and William Blake :: Poetry Literature Papers
William Butler Yeats and William Blake A study of William Butler Yeats is not complete without a study of William Blake, just as a study of Blake is greatly aided by a study of Yeats. The two poets are inexorably tied together. Yeats, aided by his study of Blake, was able to find a clearer poetic voice. Yeats had a respect for and an understanding of Blake's work that was in Yeats' time without parallel. Yeats first read Blake at the age of 15 or 16 when his father gave him Blake to read. Yeats writes in his essay "William Blake and the Imagination" that "...when one reads Blake, it is as though the spray of an inexhaustible fountain of beauty was blown into our faces (Yeats, Essays xxx)." Yeats believed Blake to be a genius and he never wavered in his opinion. It is his respect for Blake that caused him to study and emulate Blake. He tried to tie Blake closer to himself by stressing Blake's rumored Irish ancestry. He strove to understand Blake more clearly than anyone had before him, and he succeeded. As with other pursu its Yeats held nothing back. He immersed himself fully in Blake's writings. As with many of his mental pursuits he deepened his understanding of the subject by writing about it. In 1887 he wrote his essay "William Blake and the Imagination." This essay articulated his thoughts on the genius of the poet William Blake. He still however had not conceived his full vision of Blake's works. In 1889 he approached Edwin Ellis, a friend of his father's, for assistance in understanding Blake. Ellis wrote of this meeting "Very little could be given him to satisfy so large a demand, but with his eye for symbolic systems, he needed no more to enable him to perceive that here was a myth as well worth studying as any that has been offered to the world (Ellis, Vol I ix)." Thus began Yeats' and Ellis' collaboration on William Blake. This collaboration came to fruition, after four years of work, with the 1893 publication of their The Works of William Blake Poetic, Symbolic, and Critical. It has been acknowledged by many scholars that Yeats' study of Blake greatly influenced his poetic expression. This gives rise to the widely held assertion that Yeats is indebted to Blake. While I concur with this assertion, I feel that the perhaps greater debt is Blake's. William Butler Yeats and William Blake :: Poetry Literature Papers William Butler Yeats and William Blake A study of William Butler Yeats is not complete without a study of William Blake, just as a study of Blake is greatly aided by a study of Yeats. The two poets are inexorably tied together. Yeats, aided by his study of Blake, was able to find a clearer poetic voice. Yeats had a respect for and an understanding of Blake's work that was in Yeats' time without parallel. Yeats first read Blake at the age of 15 or 16 when his father gave him Blake to read. Yeats writes in his essay "William Blake and the Imagination" that "...when one reads Blake, it is as though the spray of an inexhaustible fountain of beauty was blown into our faces (Yeats, Essays xxx)." Yeats believed Blake to be a genius and he never wavered in his opinion. It is his respect for Blake that caused him to study and emulate Blake. He tried to tie Blake closer to himself by stressing Blake's rumored Irish ancestry. He strove to understand Blake more clearly than anyone had before him, and he succeeded. As with other pursu its Yeats held nothing back. He immersed himself fully in Blake's writings. As with many of his mental pursuits he deepened his understanding of the subject by writing about it. In 1887 he wrote his essay "William Blake and the Imagination." This essay articulated his thoughts on the genius of the poet William Blake. He still however had not conceived his full vision of Blake's works. In 1889 he approached Edwin Ellis, a friend of his father's, for assistance in understanding Blake. Ellis wrote of this meeting "Very little could be given him to satisfy so large a demand, but with his eye for symbolic systems, he needed no more to enable him to perceive that here was a myth as well worth studying as any that has been offered to the world (Ellis, Vol I ix)." Thus began Yeats' and Ellis' collaboration on William Blake. This collaboration came to fruition, after four years of work, with the 1893 publication of their The Works of William Blake Poetic, Symbolic, and Critical. It has been acknowledged by many scholars that Yeats' study of Blake greatly influenced his poetic expression. This gives rise to the widely held assertion that Yeats is indebted to Blake. While I concur with this assertion, I feel that the perhaps greater debt is Blake's.
Tuesday, January 14, 2020
Plastic Surgery in South Korea
Sociology group presentation: Plastic surgery * Plastic surgery is becoming one of the popular ways to change oneââ¬â¢s physical appearance in South Korea. * People in Korea believe that looking good can change their lives. * 40% of the people in Korea think that they failed the interview are because they do not look beautiful. * 70% want to change their social status through plastic surgery. Reasons: * Influence of social media: Celebrities have perfect looking.This brings impact on peopleââ¬â¢ s The body modification I am going to talk about is plastic surgery. Plastic surgery is popular in todayââ¬â¢s society, especially in South Korea. Most people do not consider themselves pretty. In a survey, 40% of the people who failed in the job interview think that they failed the interview is because they do not look pretty, and they want to change their social status from changing their appearance.And the first option they will choose is plastic surgery. Korea is a very competiti ve society. People are super competitive about their physical appearance. The social media in Korea is over exadragged, Why is Korea so competitive about appearance: in social media, the actor/actress appear to be so pretty and handsome, and they have higher social status based on how they look, so this had given a hint for people in Korea that how you look is important than what you know.This article had talked about that how high school kids think about the importance of plastic surgery. It was taken place is urban area and rural area to see the modernizationââ¬â¢s impact on peopleââ¬â¢s idea toward plastic surgery. Media has very significant influence on peopleââ¬â¢s thoughts about their appearance. They believed that looking good is very important for employment and to succeed in life.
Monday, January 6, 2020
Short Note On Short Term Memory - 1065 Words
The Present paper will be discuss how pictures and words affect Short Term Memory through testing short term memory, the process of collecting data, and errors made during the process of testing Short Term Memory. Understanding Short Term Memory is very important. What people remember in short period of time can be the difference between life and death or success and failure. Short term memory has a limit but an exact number is unknown. long term doesn t have a limit. Working memory is the system responsible for the holding and processing of new and already-stored information from short term memory. Introduction Short term memory capacity is important because many tasks can be completed only with sufficient ability to hold information in a certain order. Short term memory is ââ¬Å"The capacity for holding a small amount of information in mind in an active, readily available state for a short period of time. The duration of short-term memory (when rehearsal or active maintenance is prevented) is believed to be in the order of secondsâ⬠-Wikipedia . Memory is one of the many things that has helped humans survive since the beginning of time . Scientists have been testing the limit of STM (Short Term Memory). In an early and highly influential article, The magical number 4 in short-term memory. A reconsideration of mental storage capacity claim that people can remember about seven chunks of tasks. In response, others believe that people can only remember three to five. As ofShow MoreRelatedShort Note On Short Term Memory Essay1663 Words à |à 7 Pagesuse memory techniques in order to store a given information. Most studies have suggested; students resort to using short-memory as a tool in a last minute exam/quiz study session. Short-term memory is defined as a finite amount of information that can be temporarily stored and retrieved for up to 20 seconds. Short-term memory can also hold up to nine groups of stimuli in a given information (Weiten, Stalling, Wasden, 2007). Models that have been used in the past demonstrate that short-term memoryRead MoreAnalysis Of The Movie Memento We Come Across A Diner Scene 891 Words à |à 4 Pagespictures and notes can be problematic. In this scene Teddy says, ââ¬Å"Lenny, you canââ¬â¢t trust a manââ¬â¢s life to your little notes and pictures. Because your notes could be unreliable.â⬠Christopher Nolan directed Memento in 2000, which is adapted from ââ¬Å"Memento Moriâ⬠written by Jonathan Nolan in 2000. Both Memento and ââ¬Å"Memento Moriâ⬠tell a story about a man who uses photographs and notes to help him remember things as he searches for his wifeââ¬â¢s murderer without the use of his long-term memory. ChristopherRead MoreChristopher Nolan s Memento : Movie Analysis903 Words à |à 4 Pagesnew memories and allows him to retain only 10-15 minutes of his memories. However, Leonard is not suffering from amnesia because he can recall memories from the past, including the origins of his condition. Leonardââ¬â¢s wife was being raped in their home and when he tried to interfere, the assailants dealt a blow to his head and damaged a part of his brain while leaving his wife dead, assumingly. This relates to the concept of memory formation and how humans retrieve, store, and create memories. TheRead MoreEssay on Memory Project1498 Words à |à 6 Pagesï » ¿ Memory Project: Application to Learning Study Habits Memory is the capability to learn, retain, store and remember information from previous experiences. Memories are accumulated from prior experiences and recollected, which can influence change of behavior or thought. This ability can assist with learning and adapting to new experiences. Memory is essential to our lives. Without a memory of the past we cannot operate in the present or think about the future. We would not be able to rememberRead MoreSuccess On Computers : An Investigation Of The Soar Study Method For Computer Based Learning956 Words à |à 4 Pagesany type of notes by typing, copying, and pasting and using any type of organizational tool while the ââ¬Å"S group used bracketed facts to create a set of complete linear notes. The SO, SOA, and SOAR groups used bracketed facts to complete a wildcat matrix. The SOA and SOAR groups also clicked on association buttons to create a list of wildcat associationsâ⬠) Finally, the groups had 20 minutes to study their materia ls followed by a distractor task in order to clear their short-term memory before beingRead MoreThe Importance Of Memory1185 Words à |à 5 PagesMemory plays a crucial role in our lives. Everything we know and much of what we do is because of our memory. Because of its importance, memory has constantly always fascinated researchers. Without our memory, we would have no sense of identity, no idea of who we are. Memory is comprised of all the information that is encoded, stored and can be retrieved when needed. When encoding occurs, information is being processed by the brain. There are multiple types of encoding such as structural (what wordsRead MoreMismatch Negativity Through Understanding The Expectancy Theory804 Words à |à 4 Pagescan expect what notes might come next, based on previous knowledge or the rhythmic patterns. Thus, mismatch negativity occurs when we are wrong about the notes we had expected to come next. MMN is important to music psychology as it reflects a proc ess in the auditory system for predicting future sound events on the basis of the recent past, and the brains reaction when those predictions are not fulfilled. (Trainor pp 172) Echoic memory: Echoic memory is a part of our sensory memory process, and isRead MoreHow Short and Long Term Memory Work Essay894 Words à |à 4 Pages Short and Long Term Memory Your brain collects and forgets thousands, if not millions of memories every day. Every time you see, hear, feel, taste, and smell something, it comes into your mind and becomes a memory. A mental note is literally taken and shipped to your ââ¬Å"short-term memoryâ⬠file in your brain. Whether or not it gets pushed to ââ¬Å"long-term memoryâ⬠depends on how often you pull the sense from your brain, because if it is used often, your brain will automatically instruct itself not toRead MoreLearning Theory Essay916 Words à |à 4 Pageswhat we can comprehend with the humanââ¬â¢s finite mind. Information comes from environmental factors but the human intellect functions in such a way that learners can create additional knowledge from among the facts they have in their minds. Please note that the Holy Spirit may also at times open a personââ¬â¢s understanding beyond even a reasonable Gestault-style connection of incoming knowledge and his/her existing knowledge base (this process may be mistaken as an intuitive leap). II. PrinciplesRead MoreMemory Technique Essay1159 Words à |à 5 Pagesis made into a memory, how study habits can affect this by using my own example, and showcase three recommendations that psychologists have given for effective studying. These being effective note taking, the keyword technique, and practice and rehearse technique and how they have helped me become a better student. What is memory? Before talking about how to improve it, we first need to define what memory is, and talk about the bare basics of how information is stored in memory. According to
Sunday, December 29, 2019
Questions On 15 Stress Elements - 1576 Words
The study was conducted with a 23 question questionnaire that asked about 15 stress elements as well as 18 other supporting elements. The purpose was to see what the primary stressors were as part of the moving experience and in turn what mechanisms were useful in dealing with the problem. Responses were given on a one to five scale with one being least stressful or supportive and 5 being the most stressful or supportive. Participants were also able to say if questions were irrelevant. The primary factors to me measured were taken from a study with forty male and female adolescents who had recently undergone a relocation and were asked for context with their experience. Items that were found in five or more interviews were added to the questionnaire. The researchers then conducted another study with 90 participants from age 10-18 who had moved in the past year to determine whether the questionnaire was reliable. Qualified candidates were then administered the questionnaire in groups of six to twelve with the experimenter present. The results indicated that separation from former social circles was the most stressful element of moving, lending credence to the idea that social capital is lost in the moving process (Haynie and South 2011). Keeping touch with former friends and maintaining former relationships was also by far the most common social support element. Girls also demonstrated higher stress than boys in the group among pre adolescents but among adolescents, boysShow MoreRelatedorganizational behaviour1261 Words à |à 6 Pagesorganizations. Topics include motivation and job satisfaction; decision making; group dynamics; work teams; leadership; communication; power, politics and conflict; organization culture, structure and design; impact of technology; management of work stress; organizational change and development; and career management. Analysis of organizational behavior problems by self assessments, case studies and simulations. Course Objectives: The objectives of this course are to: 1. Introduce you toRead MoreThe Effects Of Mediocrity On Work Performance1210 Words à |à 5 Pagesperceived as a result of stress by another, since everyone perceives situations differently. This can be debilitating to employees and be costly to employers. Managers need to identify those suffering from negative stress and implement restructuring as a defense against mediocrity and stress. This may reduce the impact stress has on employees work performance. STATEMENT OF THE PROBLEM The purpose of this study was to determine the negative effects of mediocrity, complacency and stress on employees andRead MoreConstruct and Analyze Applicant Selection Protocol1418 Words à |à 6 PagesLiken type scale with 4 meaning agree, 3 somewhat agree, 2 does not apply, and 1 for disagree. The questionnaire would contain 25 items. There would be ten on job overload and job control. Then 15 items from the brief job stress questionnaire (BJSQ) on evaluate job stress. In order to achieve the question used I would evaluate other employees with there consent and ask for supervisors input as well. After constructing my job analysis and comparing it to O*NET Online. I see that my job analysisRead MoreWhat Makes A Child Butt Out At Their Parents And Others? Essay1593 Words à |à 7 PagesWhat makes a child lash out at their parents and others? Does the impact of war life destroy a veteranââ¬â¢s home? These are questions that medical professions analyze daily in psychological treatments of individuals. Psychological theory is the science that models the understanding of human thoughts, emotions and behaviors (Cherry, 2016). What is Posttraumatic Stress Disorder (PTSD)? PTSD is a very serious anxiety disorder that occurs in an individual following an unsuspected experience or even by witnessingRead MoreNursing Career Development Essay1532 Words à |à 7 PagesPractitioner. This goal will be accomplished by June 1, 2016. b. Short Term Goals i. My short term goal is to obtain my Bachelor of Science degree in Nursing at Jacksonville University. This goal will be accomplished by October 15 2014. ii. My short term goal is to finish 20 credits of study by March 31, 2013. II. Mentor: Melissa Iglesias, NP Melissa Iglesias works under an internal medicine physician at Kendall Regional Medical Center. III. Title/Name ofRead MoreEffect Of Stress On Adolescents Essay1609 Words à |à 7 Pagesaffected by different variations and factors of stress in their daily lives, but many remain unaware of the damages they may be causing to their health. American teenagers are just as stressed, if not more stressed, as Americans of other age groups, but teens frequently feel as though their emotions are invalid because they are not yet viewed as adults. As a nation oblivious to the anxiety of their youth, society often under-educates adolescents about stress. This results in teens not understanding whyRead MoreGeneralized Anxiety Disorder1615 Words à |à 6 Pagesso nervous that one feels like they are about to become sick. It is a problem when these symptoms become recognizable as a part of inhibiting someone from being able to perform essential and simple talks (AnxietyBC). What may be a normal thing to stress about for one person may be physically and mentally strenuous for another person. For that person, school can be an ongoing stressor with strict deadlines, not knowing how to pay loans, being a loner, presentations, not knowing if you were acceptingRead MoreThe Rising Levels Of Stress964 Words à |à 4 Pagesproposal we will be looking at the soaring levels of stress founds within the teaching profession because of the adequate amount of workloads put on teachers and the possible outcomes of so much pressure causing the teachers to quit the sector. According to a government s Workload Challenge survey in February 2015 (www.gov.uk), the quantity of marking, the amount of time spent recording data and bureaucracy were highlighted as the worst causes of stress in teachers. 1. Aim of the research The aim of theRead MoreAmericas Accountability to its Constitution and the Events at Abu Ghraib758 Words à |à 4 Pagesnothing which permits a violation of this; no reason can be which excuses such behavior in violation of these fundamentals. What occurred at Abu Ghraib in the form of mental and physical abuse has no excuse, and as General Taguba suggests, there is no stress of combatââ¬âat home or abroad (Hersh)ââ¬âwhich may ever excuse a violation that strikes at the bedrock to our county. It has become public knowledge that what went on at Abu Ghraib was not an isolated incident, and had occurred in areas such as AfghanistanRead MoreEssay about Symptoms of Generalized Anxiety Disorder1446 Words à |à 6 Pagesnervous that one feels like they are about to become sick (ADAA). It is a problem when these symptoms become recognizable as a part of inhibiting someone from being able to perform essential and simple talks (AnxietyBC). What may be a normal thing to stress about for one person may be physically and mentally strenuous for another person. For that person, school can be an ongoing stressor with strict deadlines, not knowing how to pay loans, being a loner, presentations, not knowing if you were accepting
Saturday, December 21, 2019
Assess sociological explanations of cha - 1814 Words
Assess sociological explanations of changes in the status of childhood? Childhood is a social construction and varies between times, places and groups. Most sociologists see our ides of childhood as a fairly recent one, the result of industrialisation and other social changes. Modern society constructs childhood as a tie of vulnerability, innocence and segregation from the adult world. The March of progress sociologist believe we live in an increasingly child-centred society. They state that children have existence of child poverty, abuse and exploitation. Child liberationists argue that children in modern western society are victims of age patriarchy and are subject to adult control. Some argue that we are witnessing the disappearanceâ⬠¦show more contentâ⬠¦These have encouraged parents to make a greater financial and emotional investment in the fewer children that we have now. Childrenââ¬â¢s health and development became the subject of medical knowledge. Jacques Donzelot (1977) observes how theories of child development that began to appear f rom the 19th century. The laws and policies that apply specifically to children, such as minimum wages for a wide range of activities from sex to smoking, have reinforced the idea that children are different from adults and so different rules must be applied to their behaviour. The march of progress view Is that position of children has improved dramatically in a relatively short period of time. However, conflict sociologist such as Marxists and feminists dispute this. They argue that society is based on conflicts between social groups such as social classes or between genders. In this conflict, some groups have more power, status or wealthy than others. Conflict sociologist see the relationship between groups as one of domination and subordination, in which the dominant act as oppressors. Conflict sociologist argues that the march of progress view of modern childhood is based on false and idealised image that ignores important inequalities. They criticise the march of progress view on two grounds and they; that there are inequalities among children in terms of the opportunities and risks they face, many today remainShow MoreRelatedA Study of Tourism in Thailand21369 Words à |à 86 Pagesmarketing communications environments follows; 1. Mechanistic: It is a communication that transmitted from sender to receiver. 2. Psychological: It is concerned withabout the processes involved and how they are that interpreted by the recipients. 3. Sociological: It is specific at the social context in terms of how information has been sent, received, established and shared as in a socially. 4. Systems and networks: This communication is a complex system of delivering messages that are adjusted and modifiedRead MoreStephen P. Robbins Timothy A. Judge (2011) Organizational Behaviour 15th Edition New Jersey: Prentice Hall393164 Words à |à 1573 Pagespassages for later review. For more information, or to purchase a CourseSmart eTextbook, visit www.coursesmart.com. Pearsonââ¬â¢s Self-Assessment Library (S.A.L.) A hallmark of the Robbins series, S.A.L. is a unique learning tool that allows you to assess your knowledge, beliefs, feelings, and actions in regard to a wide range of personal skills, abilities, and interests. Self-assessments have been integrated into each chapter, including a self-assessment at the beginning of each chapter. S.A.L. helps
Friday, December 13, 2019
Annualised Risk and Return Free Essays
FM Assignment Q) Obtain daily, weekly and monthly closing prices of the stock given to you. Get adjusted closing prices. Daily and weekly prices should be for one financial year. We will write a custom essay sample on Annualised Risk and Return or any similar topic only for you Order Now Monthly prices should be for 2 years. E. g. FY 2011-2012 and FY 2010-11. Compute annualized return and risk. DATA| ANNUALIZED RETURN| ANNUALIZED RISK| Weekly| -16. 952| 36. 449| Daily| -16. 241| 39. 347| Monthly| -11. 21| 30. 209| Comparing this with a suitable peer company, Company| Annualized return| Annualized risk| JSP| -11. 2154| 30. 209| TATA STEEL| -4. 0020| 47. 202| OBSERVATION As can be seen from the observations above, the stock which gives the maximum return also comes with the maximum risk (TATA STEEL). So when it comes to selecting the stock, the following two cases can be considered: a) Maximum return :- If you are a person who values maximum return and is willing to take the risk for the same, go for TATA STEEL b) Minimum Risk :- If you are a risk averse person, go for JSP as the risk associated with it is less compared to TATA STEEL In either case, whether TATA STEEL or JSP, the annualized return is negative. Q) Construct 10 different portfolios with another company (Correl 0. 0) and compute return and risk for each portfolio. Identify the best portfolio. Construct the minimum variance portfolio. Company| Correl| JSP AND TATA STEEL| 0. 89| JSP AND CUMMINS| 0. 65| Initially we compared JSP and TATA STEEL. We found the Correl = 0. 89 which was greater than 0. 70. Next we compared JSP and Cummins and found the Correl to be 0. 65. So we will choose Cum mins for making the portfolio. Portfolio| Return(%)| Return(%)| | | Percentage ofJSP| | Percentage of CUMMINS| | Portfolio Return| | JSP| CUMMINS| | | | | | | | 1| -11. 21| 14. 83| | | 10%| | 90%| | 12. 2233| 2| -11. 21| 14. 3| | | 20%| | 80%| | 9. 6196| 3| -11. 21| 14. 83| | | 30%| | 70%| | 7. 0159| 4| -11. 21| 14. 83| | | 40%| | 60%| | 4. 4122| 5| -11. 21| 14. 83| | | 45%| | 55%| | 3. 11035| 6| -11. 21| 14. 83| | | 50%| | 50%| | 1. 8085| 7| -11. 21| 14. 83| | | 60%| | 40%| | -0. 7952| 8| -11. 21| 14. 83| | | 70%| | 30%| | -3. 3989| 9| -11. 21| 14. 83| | | 80%| | 20%| | -6. 0026| 10| -11. 21| 14. 83| | | 90%| | 10%| | -8. 6063| Min Variance| -11. 21| 14. 83| | | 36%| | 64%| | 5. 45368| Portfolio| Risk(%)| Risk(%)| | Percentage ofJSP| | Percentage of CUMMINS| Covariance| Portfolio Risk| | JSP| CUMMINS| | | | | | | | 30. 21| 27. 36| | 10%| | 90%| 543. 6637905| 6. 99497971| 2| 30. 21| 27. 36| | 20%| | 80%| 543. 6637905| 9. 326639613| 3| 30. 21| 27. 36| | 30%| | 70%| 543. 6637905| 10. 685008| 4| 30. 21| 27. 36| | 40%| | 60%| 543. 6637905| 11. 42275403| 5| 30. 21| 27. 36| | 45%| | 55%| 543. 6637905| 11. 59986156| 6| 30. 21| 27. 36| | 50%| | 50%| 543. 6637905| 11. 65829952| 7| 30. 21| 27. 36| | 60%| | 40%| 543. 6637905| 11. 42275403| 8| 30. 21| 27. 36| | 70%| | 30%| 543. 6637905| 10. 685008| 9| 30. 21| 27. 36| | 80%| | 20%| 543. 6637905| 9. 326639613| 10| 30. 21| 27. 36| | 90%| | 10%| 543. 637905| 6. 99497971| Min Variance| 30. 21| 27. 36| | 36%| | 64%| 543. 6637905| 11. 19196754| From the above observation, for decision regarding the best portfolio the following cases can be considered:- a) Maximum Return :- If one wants to maximize the return, one should have a portfolio mix consisting of 10% JSP and 90% Cummins b) Minimize Risk :- A risk averse person should go for a portfolio mix consisting of 10% JSP and 90% Cummins c) Minimum Variance: ââ¬â Ideally, as per the minimum variance rule, one should have 36% of JSP and 64% of Cummins as their portfolio mix. But in this case, it does not give the maximum return nor the least risk. Since maximum return as well as minimum risk is observed for a portfolio mix of 90% Cummins and 10% JSP, one should opt for that. Learningââ¬â¢s * For studying the valuation of assets or securities, knowledge about the concepts of Risks and Returns are essential * Variance or standard deviation is the measure of the risk of returns * Combination of multiple securities are called portfolioââ¬â¢s * Portfolio risk is not a weighted average risk as the securities included in the portfolio are associated with each other. Hence, portfolio risk also accounts for the covariance between the returns of securities * Covariance is the product of standard deviation of individual securities and their correlation coefficient * The magnitude of the portfolio risk will depend on the correlation between the securities. The portfolio risk will be equal to the weighted risk of individual securities if the correlation coefficient is +1. 0. If correlation coefficient 1, the portfolio risk will be less than the weighted average risk. When the correlation coefficient = -1. 0, the portfolio risk becomes 0. Submitted By Group C14 Vaibhav Bhasin 2012182 Vinay Harinarayanan 2012184 How to cite Annualised Risk and Return, Essay examples
Thursday, December 5, 2019
Total Quality Management Core of any Business
Question: Discuss about the Total Quality Management for core of any business? Answer: Introduction Customers are the core of any business. A business survives only if it meets the needs of consumers. The aim of this report is to measure the quality management procedures of Tesco Plc. The organization was found in the year 1919 with a simple mission of being a champion for customers and improving their quality of life (Tesco plc 2016). The core purpose of Tesco is Serving Britains shoppers a little better every day (Tesco plc 2016). The British multinational grocery and general merchandise retailer is headquartered in UK. Tesco values its stakeholders- customers, suppliers, communities and various others. Tesco understands its people by interacting with them and providing exclusive services to meet their requirements. Tesco binds the organizational structure with a culture of trust and respect (Tesco plc 2016). The company makes a significant contribution towards the world by reducing waste globally, providing affordable and high-quality food, providing high employment opportunitie s and faces challenges as a responsible corporate citizen (Tesco plc 2016). Total Quality Management (TQM) System In the words of Group CEO, Dave Lewis, Tesco believes in Doing the Right Thing (Tesco Plc 2015). Tesco does not prescribe any system of standards and establishes its set of quality processes. Tesco follows two main approaches for managing total quality- Full Customer satisfaction and Zero defects. The quality is checked throughout the supply chain- from the suppliers to the product placement in store. The product standards are the most robust in the industry (Tesco Plc 2014). Full Customer Satisfaction Tesco is a customer-oriented organization. Tesco creates psychographic profile of its customers. The organization not only enrols customers through the Clubcard Loyalty Plan but also engages them by inviting them to join suitable clubs. Tesco ensures customer satisfaction through product preferences, positive attitudes and price sensitivity. Tesco designs offer in a manner that suits the preferences of individual customers visiting the store. Tesco engaged its loyal customers as the company figures out the value being looked forward to by the customers (Mukerjee 2013). Zero Defects Tesco establishes quality audits at every point of the organization. After approving a supplier, Tesco arranges site visits and product surveillances by approved auditors. The program testing is divided into four categories- Chemical and microbiological testing, Authenticity testing, Contaminants Testing and Quality testing (Tesco Plc 2014). Each product goes through quality check at Tesco to provide value for money to customer and assure qualified product. These testing programmes cover all products ensuring Tesco to sell safe products to its customers (Tesco Plc 2014). Development and Use of TQM System Maintaining and improving quality at Tesco is achieved in several ways. Tesco is a retail chain store with several establishments in UK and foreign countries producing its products. For the same reason, Tesco gets to sell products manufactured by other companies. To meet the required standard quality of products, Tesco inspects each product from the point of origin to the point of sale. Food products and pharmaceuticals require high level of cleanliness in comparison to other products sold at Tesco. Therefore, the skilled workforce in the organization ensures that the people handling products requiring high sensitivity to cleanliness maintain hygiene for mitigating errors and complains. All the products are marked with the date of manufacturing and expiry to educate its customers. The products produced by the company as well as products for other companies are sold at Tesco. In case the products lie on the shelf for too long, the employees from quality assurance and improvement team make sure that the products are disposed of properly. The products on the shelf at Tesco need to be fresh. The majorly sold items at Tesco are groceries and meat products. Finding highly perishable products being shelved after a day is difficult. In most cases, the entire product quantity at sold within a day. The company follows a policy of removing defective products from the shelves as soon as they show signs of spoilage (Harris 2015). The company donates the perishable products for immediate use so that the food is not wasted. The quality and assurance team makes sure that the products meet standard requirements at all levels and are shelved. Tesco supports FareShare by providing food to more than 1,000 charities across UK. Tesco diverts all surplus fresh food items to support FareShare. The food items include chicken, fruits and vegetables (Smithers 2013). Tesco maintains its total quality concept through prevention, zero defects, getting things right, at first, continuous improvement and involving all aspects of the organization. Tesco satisfies its customers by following low cost policies. The human resources of Tesco play a critical role in the quality management of the products. The department stresses in ensuring product quality of service delivery. They ensure that the customers are treated with value and esteem while they interact with the company. Tesco devotes treating its associates and deserve respect in turn (Hu et al. 2015). The human resources team at Tesco ensures to motivate its employees so that bets products are provided to the customers. The raw materials used by the company are subject to standard testing. The company does not use products that do not yield expected quality. Selection of materials is a critical aspect and every product has to be tested to meet certain standards. Tesco also ensures speedy delivery of products for maintaining high quality of services. The store attendants are taught to provide efficient delivery services promptly. The company makes sure that the customers do not have to lose their precious time (Evans and Mason 2015). Level of Success of TQM System Tesco is renowned for the quality of products. Despite the success of Clubcard loyalty scheme, several discrepancies have been encountered in the operations of Tesco. The quality performance objective is the most prioritized objective above all other business strategic objectives (Connolly and Wall 2011). The company has a quality improvement team that deals with ensuring maintenance of quality in all the goods the company sells in its stores as well the services it provides to its loyal customers (Connolly and Wall 2011). It is reported that the strengths of Tesco are no longer good enough. There was a decline in operating profits. Tesco encountered various strategic challenges in UK. The competitors such as Sainsbury and Marks Spencer focus on improving quality. The Aldi stores in Germany not only provide low prices but convenience. Tesco established small outlets in high-traffic locations for full customer satisfaction. However, German consumers purchased quality products at lower prices at Aldi (Wells 2014). Despite multiple challenges, Tesco continues to rule the market share in UK as shown in Figure 1. Figure 1: Percentage Share of Total UK Grocery Market Source: (Wells 2014) Tesco uses low price strategies to provide best value to its customers. The brand was severely compromised according to the survey of shoppers (Davidson 2015). The company showed lowest overall customer satisfaction results and the brand image is tarnished. A study was conducted with 2000 customers in UK, and an amount of 250m was reported as losses (Davidson 2015). The criteria of price, range, quality, availability, promotions and range were outranked by other competitors such as Asda. Tesco ranked lowest in a list of grocery chains as stated in Figure 2 (Davidson 2015). Tesco was also outranked by other competitors in categories such as availability of items, cashier courtesy, checkout speed, specialty department service and ability to find items (Davidson 2015). Tesco supermarket was rated the worst grocer for store cleanliness. The brand value declined by 37% in 2014 (Davidson 2015). Figure 2: Composite Loyalty Index Source: (Davidson 2015) Tesco was also outranked by other competitors in categories such as availability of items, cashier courtesy, checkout speed, specialty department service and ability to find items as shown in Figure 3 (Davidson 2015). Tesco supermarket was rated the worst grocer for store cleanliness. The brand value declined by 37% in 2014 (Davidson 2015). Figure 3: Consumer Insights Source: (Davidson 2015) Tesco commits to set new benchmarks in food testing after the horse meat scandal. The customer confidence was lost after the discovery of horse meat in some of its products. Inquiry was ordered after horse meat was found in Tesco value beef burgers in January, prompting a Food Standards Agency (FSA) investigation (Molloy 2013). Tesco promised to set new benchmarks about food testing if the details are not present on the label. Tesco backed-up its commitment by stating that it would educate customers by providing information regarding the products sold at the store. The supply chain system would be reviewed ensuring visibility and transparency (Molloy 2013). Evaluation of impact Before TQM was introduced Tesco introduced Big Price Drop campaign for which prices of daily products slashed (Ruddick 2014). The campaign was criticized as it accentuated the negative perceptions of quality of the products. The low prices convinced people for cheaper products and not quality. The sales of Tesco declined rapidly as the customers lost trust in quality and prices. Tesco did not focus on improving quality while driving down prices. The consumers prefer to buy quality products over cheaper products. Tesco neglected in-store experience, longer shelves, well-designed store environment and other points of differentiation that fully satisfy customers (Ruddick 2014). The markets further reported that Tesco lost its human touch while it was busy expanding its market overseas. The organization failed to position itself between price and quality demands. Tesco also suffered from rising prices of fuel for powering its operations. Tesco tried to make the product range available for all the markets that made them lose its way (Curtis 2012). Both rich and poor want tighter and better quality and niche markets are tending to determine mass markets rather than mass markets crushing niche markets. Tesco was also reported to have poor customer service both in-store and online deliveries. The organization lowered its service levels for bringing the prices down. Tesco exposed its inhumanity of the hypermarket system. Tesco lost the edge and it brought around a serious question if the products were value for money (Curtis 2012). During the implementation For the maximum satisfaction of customers, Tesco introduced the Clubcard loyalty scheme that helped in surging up profits. UK households started redeeming Clubcard points and the organization pledged to pace up its expansion procedures. Tesco went beyond CRM initiatives for providing efficient quality products and services to its customers. Tesco initiated comment cards, research trackers and research techniques for engaging with its customers. The performance was tracked over time. The customers got a chance to accumulate points on the clubcard while presenting their opinions through other initiatives. The customer base for Tesco is large, and Tesco bridged the gap for introducing schemes for various market segments. The initiatives were well taken by the customers as they considered it high quality services. Tesco also changed its store formats based on the size and range of products sold. Customer demands were met with the introduction of various schemes, product range and product locations (Visser 2012). During development and potential future Tesco sales have been declining rapidly in the last two years with increased internet shopping. Tesco is losing its market share because nowadays, shoppers are questioning if the Clubcard is more helpful to the supermarket than to the shopper. Tesco benefits itself following the 6Cs of TQM- Commitment, culture, cooperation, continuous improvement, customer focus and control (Connolly and Wall 2011). Tesco dedicates a human resource management team to attend a meeting with total quality management. The quality improvement team is also charged with responsibilities for dealing with the loyal customers (Ruddick 2014). Tesco successfully adapts cost structure helping the consumers save money. Clubcard is a unique strategy followed by Tesco to keep up the competition in providing quality services to its customers. The clubcard also helps the customers in understanding the customer behaviours as they are recently switching from retail and merchandise stores to online and convenience stores (Ruddick 2014). Recommendations Based on the above research and analysis, some of the gaps are identified about customer satisfaction and defect free products. The recommendations are cost-effective from both individual and organizational perspectives. Several issues and concerns are provided about provision of high quality services and loyalty for Tesco. Some of the recommendations are listed as ahead. Tesco must improve the knowledge and understanding of customers by providing information regarding the product. Several models must be established for measuring customer satisfaction over time based on the range of products, prices, competitors information and preference (Visser 2012). Tesco may continue to satisfy its customers by continuing current business strategies such as Tesco loyalty programme. A few strategies such as a discount, better service to customers, ensuring quality products, commitment to staff, customers and environment must be taken. Marketing research may be conducted on a regular basis for identifying the expectations and demands of the customers (Croucher, 2012). A quality manager may be appointed additionally for analysing the current market trends, nature of competition and the quality standards followed by rivalries such as Aldi, Sainsbury and various others. The customer satisfaction survey would help in knowing the level of customer satisfaction. Online feedback processes may be initiated for the convenience of data collection (Keegan and Green 2015). Tesco may further enhance its effective leadership and managerial skills. The customer service may be improved through collective ownership. Considering the current market trend, Tesco must improvise its supply chain through online distribution. The website may be enhanced providing the visitors some options to surf easily. The website may also be provided with more filtering options and improve the quality of experience received by customers (Visser 2012). Free shipping may be provided by the brand. Daily checks at the factory and warehouse must be enhanced. The food and product checks may be signed off routinely by the retail manager. A rigorous audit programme may be arranged for managing the cross contamination risk, personal hygiene standards, and cleanliness at the stores, pest control measures, labelling and stock rotation procedures and management of waste. The Food Safety Risk Managers may provide stringent regulations for managing the quality of food products (Leng, Li and Liang 2015). Conclusion The above report assesses the total quality management at Tesco Plc. Tesco understands its people by interacting with them and providing exclusive services to meet their requirements. Tesco follows two main approaches for managing total quality- Full Customer satisfaction and Zero defects. Tesco ensures customer satisfaction through product preferences, positive attitudes and price sensitivity. The quality performance objective is the most prioritized objective above all other business strategic objectives. Each product goes through quality check at Tesco to provide value for money to customer and assure qualified product. Tesco as a company produces its products. Tesco is a retail chain store with several establishments in UK and foreign countries. Tesco also ensures speedy delivery of products for maintaining high quality of services. To meet the required standard quality of products, Tesco inspects each product from the point of origin to the point of sale. Daily checks at the fac tory and warehouse must be enhanced. Selection of materials is a critical aspect, and every product has to be tested to meet certain standards. Customer demands were met with the introduction of various schemes, product range and product locations. References Connolly, C. and Wall, T., 2011. The global financial crisis and UK PPPs.International Journal of Public Sector Management, 24(6), pp.533-542. Croucher, S., 2012.Tesco Trouble vs Sainsbury's Success: How Justin King is Winning the Supermarket Battle. 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