Gender Discrimination Essay

Social Informatics International Accreditation Forum

Question: Talk about theSocial Informaticsfor International Accreditation Forum. Answer: New Way of Doing Existing Activity Using the IAF Future Process: The better approach for doing the current action utilizing the IAF (International Accreditation Forum) can help in completing creative strategic approaches in the retail part of Australia. The retail administrators in Australia can consider the usage of the imaginative strategic policies by effectively perceiving the issues that are existent in the retail space of Australia. The retail enterprises In Australia can actualize comparable frameworks of Alfred Point of Sale framework as has been executed by the Commonwealth Bank to gain more client information (Aiello and McFarland 2015). Likewise, the retail business in Australia can likewise consider the procedure of execution of the accepted procedures, for example, the Open ERP that can help the organizations in taking care of a few number of offer requests, dealing with various retail locations, web based business, different inbound deals. The business partnerships working in the retail business can execute creative inbound advertisi ng activities related to the 360-degree revealing motor, CRM, timesheets, monetary just as bookkeeping applications. Moreover, the administration of the associations in the retail segment can actualize diverse creative cooperation extends that can help in teaming up just as dealing with a constant reason for genuine results (Aiello and McFarland 2015). Current Practices and Trends The retail segment in Australia has kept on accomplishing high rate development during the time of the year 2015 according to the reports uncovered by the Australian Bureau of StatisticsRetail Trade. Be that as it may, the reports recommend that the Australian retail turnover has around amplifiedby almost 3.7 percent between the period September2014 just as September 2015 (Hara et al. 2014). Nonetheless, the proceeded with permission of new just as non-customary retailers urges the retailers to adjust the method of tasks. The administrators utilize the social information just as various omnichannels to increase the general online experience. Distinguishing proof of the Key Forces that are Driving Changes The significant elements that are driving changes in the retail part in Australia incorporate the execution of cutting edge innovations and systems for completing the tasks, worldwide exchange, patterns, legitimate just as political powers notwithstanding extraordinary macroeconomic factors (Hara et al. 2014). Purposes behind Bringing about Changes and Impact of the Changes The usage of the new advances and incorporation of the new advances with various activities of the retail business can help in achieving digitalization. The execution of the new advancements can build the seriousness and thusly can expand the general ablity of endeavors to assume a noteworthy job in the abroad markets. References Aiello, L.M. also, McFarland, D. eds., 2015.Social Informatics: SocInfo 2014 International Workshops, Barcelona, Spain, November 11, 2014, Revised Selected Papers(Vol. 8852). Springer. Hara, N., Fichman, P., Jarrahi, M.H., Rosenbaum, H., Fleischmann, K.R. also, Butler, B., 2014. Social informatics and web based life: Theoretical reflections.Proceedings of the American Society for Information Science and Technology,51(1), pp.1-3.

Situational Theory of Leadership

Situational Theory of Leadership Theories Print The Situational Theory of Leadership By Kendra Cherry facebook twitter Kendra Cherry, MS, is an author, educational consultant, and speaker focused on helping students learn about psychology. Learn about our editorial policy Kendra Cherry Reviewed by Reviewed by Amy Morin, LCSW on October 01, 2019 facebook twitter instagram Amy Morin, LCSW, is a psychotherapist, author of the bestselling book 13 Things Mentally Strong People Dont Do, and a highly sought-after speaker. Learn about our Wellness Board Amy Morin, LCSW on October 01, 2019 Chris Ryan / Getty Images More in Theories Behavioral Psychology Cognitive Psychology Developmental Psychology Personality Psychology Social Psychology Biological Psychology Psychosocial Psychology In This Article Table of Contents Expand 4 Primary Leadership Styles Maturity Levels Leadership Styles and Maturity Flexible Leadership Model SLII Model SLII Leadership Styles Situational Factors View All Back To Top The situational theory of leadership suggests that no single leadership style is best. Instead, it all depends on the situation at hand and which type of leadership and strategies are best-suited to the task. According to this theory, the most effective leaders are those that are able to adapt their style to the situation and look at cues such as the type of task, the nature of the group, and other factors that might contribute to getting the job done. Situational leadership theory is often referred to as the Hersey-Blanchard Situational Leadership Theory, after its developers, Dr. Paul Hersey, author of The Situational Leader, and Kenneth Blanchard, author of One-Minute Manager. Hersey and Blanchard’s Leadership Styles Hersey and Blanchard suggested that there are four primary leadership styles: Telling (S1): In this leadership style, the leader tells people what to do and how to do it.Selling (S2): This style involves more back-and-forth between leaders and followers. Leaders sell their ideas and message to get group members to buy into the process.Participating (S3): In this approach, the leader offers less direction and allows members of the group to take a more active role in coming up with ideas and making decisions.Delegating (S4): This style is characterized by a less involved, hands-off approach to leadership. Group members tend to make most of the decisions and take most of the responsibility for what happens. Maturity Levels The right style of leadership depends greatly on the maturity level (i.e., the level of knowledge and competence) of the individuals or group. Hersey and Blanchards theory identifies four different levels of maturity, including: M1: Group members lack the knowledge, skills, and willingness to complete the task.M2: Group members are willing and enthusiastic, but lack the ability.M3: Group members have the skills and capability to complete the task, but are unwilling to take responsibility.M4: Group members are highly skilled and willing to complete the task. Matching Leadership Styles With Maturity Levels The Hersey-Blanchard model suggests that the following leadership styles are the most appropriate for these maturity levels: Low Maturity (M1)â€"Telling (S1)Medium Maturity (M2)â€"Selling (S2)Medium Maturity (M3)â€"Participating (S3)High Maturity (M4)â€"Delegating (S4) A Flexible Leadership Model A more telling style may be necessary at the beginning of a project when followers lack the responsibility or knowledge to work on their own. As subordinates become more experienced and knowledgeable, however, the leader may want to shift into a more delegating approach. This situational model of leadership focuses on flexibility so that leaders are able to adapt according to the needs of their followers and the demands of the situation. The situational approach to leadership also avoids the pitfalls of the single-style approach by recognizing that there are many different ways of dealing with a problem and that leaders need to be able to assess a situation and the maturity levels of subordinates in order to determine what approach will be the most effective at any given moment. Situational theories, therefore, give greater consideration to the complexity of dynamic social situations and the many individuals acting in different roles who will ultimately contribute to the outcome. The SLII Model The Situational Leadership II (or SLII model) was developed by Kenneth Blanchard and builds on Blanchard and Herseys original theory. According to the revised version of the theory, effective leaders must base their behavior on the developmental level of group members for specific tasks. The developmental level is determined by each individuals level of competence and commitment. These levels include: Enthusiastic Beginner (D1): High commitment, low competence.Disillusioned Learner (D2): Some competence, but setbacks have led to low commitment.Capable But Cautious Performer (D3): Competence is growing, but the level of commitment varies.Self-Reliant Achiever (D4): High competence and commitment. SLII Leadership Styles SLII also suggests that effective leadership is dependent on two key behaviors: supporting and directing. Directing behaviors include giving specific directions and instructions and attempting to control the behavior of group members. Supporting behaviors include actions such as encouraging subordinates, listening, and offering recognition and feedback. The theory identifies four basic leadership styles, including: Directing (S1): High on directing behaviors, low on supporting behaviors.Coaching (S2): High on both directing and supporting behaviors.Supporting (S3): Low on directing behavior and high on supporting behaviors.Delegating (S4): Low on both directing and supporting behaviors. The main point of SLII theory is that not one of these four leadership styles is best. Instead, an effective leader will match his or her behavior to the developmental skill of each subordinate for the task at hand. Important Situational Factors Experts suggest that there are four key contextual factors that leaders must be aware of when making an assessment of the situation. These factors include: Leaders need to consider the relationship between the leaders and the members of the group. Social and interpersonal factors can play a role in determining which approach is best. For example, a group that lacks efficiency and productivity might benefit from a style that emphasizes order, rules, and clearly defined roles. A productive group of highly skilled workers, on the other hand, might benefit from a more democratic style that allows group members to work independently and have input in organizational decisions.The leader needs to consider the task itself. Tasks can range from simple to complex, but the leader needs to have a clear idea of exactly what the task entails in order to determine if it has been successfully and competently accomplished.The level of authority the leader has over group members should also be considered. Some leaders have power conferred by the position itself, such as the capacity to fire, hire, reward, or reprimand subordinates. Other leaders gain pow er through their relationships with employees, often by gaining respect from them, offering support to them, and helping them feel included in the decision-making process.As the Hersey-Blanchard model suggests, leaders need to consider the level of maturity of each individual group member. The maturity level is a measure of an individuals ability to complete a task, as well as his or her willingness to complete the task. Assigning a job to a member who is willing but lacks the ability is a recipe for failure. Being able to pinpoint each employees level of maturity allows the leader to choose the best leadership approach to help employees accomplish their goals.

Latin Americ The Era Of Colonization - 2711 Words

Latin America as continent is a very diverse, culturally, geographically and in the people who inhabit the land. Some are ancestors of the indigenous people to the land, some are African Americans whose ancestors were brought over during the slave trade, others are of European descent, specifically Spanish and Portuguese who’s ancestors came to Latin America during the late 1400’s to either acquire land through the encomienda, capitancy or intendancy system; or to follow the â€Å"Spanish Dream† of coming to the New World and creating a life with prestige and wealth. Latin America was developed through imperialism, the idea that one country could control another country and that country’s economy, and political system from outside its borders. Through this idea of imperialism came the era of colonization. Latin America was colonized by Spain and Portugal, but mostly Spain, Portugal colonized Brazil. The failure of Latin America as a state can be attributed to the act of colonization by the Spanish and Portuguese. When Christopher Columbus sailed to the New World for the Spanish in 1492 under the rule of King Ferdinand and Queen Isabella, he was sent with three ships, The Nina, The Pinta, and The Santa Maria, these three ships carried European men who acted as Columbus’s crewmen for the voyage. The men who were sent over to the New World brought with them the mindset of the European, as well as violence. The men sent were purposely sent from Europe to the New World to rid

India s Largest Institute For Supply Chain Management Essay

Institute for Supply Management, INDIA (ISM-INDIA) situated in Gurgaon (Delhi-NCR), which have many chapters in major, cities of India. ISM-INDIA is affiliated to Institute for supply management in the USA which is the world’s largest institute for supply chain management. The main aim of cooperation is to provide opportunities for the promotion of supply management professions and expansion of skills and knowledge of professionals. ISM-INDIA works with many MNC’s, major companies and public sector of India in professionalizing supply management activities. As per definition supply chain management is the management of different stages of all business activities and processes which is necessary to manage demand and supply on a global scale. The commodity is passing through various stages i.e. from supplier to manufacturer to wholesaler to retailer to consumer to the end customer. With the increasing of globalization of business, uncertainty of supply networks and shortening of product life cycles have forced the organizations to look beyond the collaboration with supply chain partners. It also involves procurement of raw materials, manufacturing and distribution management of finished goods.SCM is the art of proving the right product, At the right time, At the right place, and At the right cost to the customer. New challenges for organizations all over the world are the interplay of three C’s namely, customers, competition, and convergence. Consumers have becomeShow MoreRelatedPursuing and International Career in Logistics and Supply Chain Management1924 Words   |  8 PagesI am Chandan Kumar Gupta from Kathmandu, Nepal, presently employed with Tata Motors Ltd. as Manager in Purchase and Supply Chain department for past four years. 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Secondly, with the dismantling of import restrictions in the near future or it the rupee begins to gain ground then India may not continue to have the low-cost manufacturing advantage

Extended Definition Free Essays

Jason Lorenzo Lumabas ENGLCOM (WC) The Digestive System One of the miracles of the human body is how it possesses the characteristics of machines; specifically that of a juicer. It breaks down and extracts vitamins and minerals from everything that it ingests. To be specific, the digestive system is the system of organs responsible for getting food into and out of the body and turning the food we eat into energy (Seibert, 2011). We will write a custom essay sample on Extended Definition or any similar topic only for you Order Now It is one of the wonders of our body that keeps us alive. In fact, keeping a healthy digestive system can actually boost one’s lifespan. According to Watson (2011), a lot of people suffer from chronic diseases but only a few realize that these are the result of impaired digestion. Overall health begins in the gut that is why having poor digestion will encourage the development of different illnesses. Thus, by having a good digestive health a person increases the chances of prolonging his life by having a healthy diet but people nowadays tend to eat whatever they please. Majority does not really care about how nutritious their food is as long as they satisfy their hunger. Little do these people know that what they eat can affect their body system. Sztainer (2008) provides recommendations to maintain a healthy body and good eating habits. First, unhealthy eating must be counteracted with long-term eating behaviors which will also help in the promotion of positive body image. Second, eating together as a family and talking about how to maintain a healthy living will help as well. As a matter of fact, eating alone can lead to depression (Kimura et al. , 2012) that will greatly affect the eating habits of an individual thus making the person unhealthy. Therefore, following these recommendations will impede poor nutritional health. Another factor that greatly decreases the health of the digestive system are disorders like bulimia and anorexia. Anorexia nervosa and Bulimia nervosa are two of the most dreaded eating disorders afflicting men and women. According to Sonenklar (2011), Anorexia nervosa, or just anorexia, is a combination of emotional, psychological, and biological disorders that affects the body. People with anorexia fear weight gain and are obsessed with their bodies. They restrict themselves from eating too much because they are afraid to appear big. On the other hand, she states that bulimics are those who eat excessively and later purge it, because of their act of binge eating. They become depressed and tend to engage themselves in dangerous methods that will help them lose the weight they gained from eating too much. These disorders also affect the disease-fighting mechanism of the human body since the gastrointestinal tract consists of two-thirds of the immune system. There are many ways to prevent diseases that involve not only the digestive system but also the other systems of the body. One of these ways is having probiotics in one’s system. Probiotics can help in keeping the digestive system working well. In fact, probiotics can reverse illnesses related to the gut. Louis (2012) asserts that it is important to have a good amount of probiotics in one’s system especially if the intake of processed foods and low fiber diets is high because it will abate the colon function. Another way to prevent these illnesses is enzyme supplementation in a person’s diet. A good amount of enzyme can improve a person’s overall digestion. It also reduces the effects of aging and inflammation of muscles and joint pain. Enzymes boost the immune system and cleanse the body from allergic reactions. The author also mentions that pasteurized foods and beverages should be avoided because they destroy enzymes. In conclusion, a lot of factors should be considered in maintaining a healthy digestive system. Engaging one’s self in doing these will result to a well and prolonged life. Having a healthy digestive system also means having a healthy central nervous system. These two systems are closely related to each which is why a new field of study possible called Neurogastroenterology sprung. These two vital systems serve as some kind of elixir to the human body that is why they should be kept well at all times. How to cite Extended Definition, Papers

Technology and Human Relationships Essay Example

Technology and Human Relationships Essay Technology is very popular, and become an indispensable part in our daily life. The students use technology to serve for learning, the office staffs use technology to draft the contracts or build the projects, the teachers use technology to make the lessons become more lively, and so on. Thus, technology brings to us many benefits. However, everything has its dark side, also technology. Have we ever wonder if we dont have the technology, then the relationships around us will be how? Whether the human relationship will be better, and more trustworthy, or not? By my own experiences that I have learned, have beheld, I can see clearly the technology is changing the relationship between members in a family, between friends, between those who are in love. In a technology family, its surely difficult for each member to share and understand each other if they always focus on their jobs, or checking Facebook, Twitter on their laptop and their phone while they are sitting next to each other. I agree that it is their personal life, but they are living in the same house and how they can dismiss their own relatives like that. Unlike the family in the era of technology, the family at the time when technology has not appeared yet, which I call the old family, had a more difficult life. They didnt have smartphone, smartwatch, tablets, or laptops. Therefore, if they wanted to contact to each other, they had to write the letter and wait until they received the response. Because of these difficulties, they always cherished the time when they met, the conv ersations, the stories that they told each other. For example, I used to watch an old Vietnamese movie that talks about the Lunar New Year in Vietnam. In this movie, I saw an old family with three generations, grandparents, parents, and their kids. They sat together in front of a black white television. There was a few traditional food on the table. The elders were talking to each other. The children We will write a custom essay sample on Technology and Human Relationships specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Technology and Human Relationships specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Technology and Human Relationships specifically for you FOR ONLY $16.38 $13.9/page Hire Writer

US FEDALISM essays

US FEDALISM essays The political affairs of the world in eighteenth century left much to be desired by todays modern democratic standards. Most dramatic regime changes following a revolution or war are quite easy to explain. France in 1789 was seething with discontent at a corrupt and insensitive monarchy. Russia in 1917 was long overdue for a revolution to sweep away on archaic, semi-feudal order. And the numerous colonial wars of independence in the post-1945 period were predictable, given the rapid political and economic changes which World War II and its aftermath had precipitated. The American fails to fit any of these neat stereotypes, however. The principal aims that the Founding Fathers of the Constitution had been to guarantee the sovereignty of the people, to maintain a maximum of liberty for the citizens. To have popular representation without an unbridled majority rule. The sources of inspiration of the Founding Fathers were to a high extent John Locke, Thomas Paine and Montesqieu. To achieve the four main aims: The social contract, democracy and separation of power, federalism. In order to judge the success of the constitution to fulfil the aims of the Founding Fathers, one should look at the changes that have occurred and how the American system looks today. During the eighteenth century the idea that men possessed certain inalienable rights spread rapidly under the influence of the social contract theorists (Locke, Rousseau) and pamphleteers (Thomas Paine), and became particularly popular in a colonial America infused with a spirit of liberty and independence. The men of the American Constitution of 1787 were as much inspired by English philosopher John Locke. Locke had agreed that between the citizens and the government power an agreement had been made. This agreement meant that in exchange for less freedom, a government had appeared to promote life, liberty and property. Life, liberty and property were rights that governmen...

A Tree Grows in Brooklyn Vocabulary Terms

A Tree Grows in Brooklyn Vocabulary Terms Betty Smiths first novel,  A Tree Grows in Brooklyn, tells the coming-of-age story of Francie Nolan and her second-generation immigrant parents struggling to provide for their family. Its widely believed Smith herself was the basis for the character of Francie. Heres a vocabulary list from A Tree Grows in Brooklyn. Use these terms for reference, study, and discussion. Chapters I-VI: tenement: an apartment building, usually in a low-income area, that is without luxury amenities ragamuffin: a child whose appearance is unkempt and uncivilized cambric: a finely woven white linen interminable: long and dull with little sign of ending (or terminating) premonition: a warning or feeling about something that will happen in the future (usually negative) vestibule: a reception area or foyer, often in a school or church Chapters VII-XIV: fetching: attractive or pretty, beguiling peculiar: unusual or suprising, out of the ordinary bucolic: of or in the countryside, literally a shepherd or cowhand sprig small shoot or twig of a plant, usually decorative or garnish filigree: a delicate ornamentation or detail usually gold or silver, on jewelry banshee: from Irish folklore,  a female spirit whose high-pitched wailing signals an imminent death (on the) dole: unemployed and receiving benefits from the government. Chapters XV-XXIII: prodigious: impressively large, awesome languorous: without energy or liveliness, sluggish gallantly  do something in a brave or heroic way dubious: having doubt or uncertainty, skeptical horde: a large unruly crowd saunter  to walk at a leisurely pace relegate: to demote or assign to a lower category Chapters XXIV-XXIX: gratis: free, without cost contempt:  disrespectful dislike conjecture: opinion based on incomplete information, speculation surreptitious: secretive, sneaky vivacious: animated, lively, happy-go-lucky thwarted: prevented from accomplishing something, disappointed sodden: drenched, thoroughly soaked Chapters XXX-XXXVII:   lulled: calmed, settled down putrid: decaying with a foul odor   debonair: sophisticated, charming lament: to mourn, or feel sad about a loss fastidious: having exacting attention to detail Chapters XXXIII-XLII: contrite: apologetic, feeling sincere regret for a misdeed contorted: twisted or misshapen infinitesimal: so small as to be irrelevant or unmeasurable Chapters XLIII-XLVI:   contemptuously: disrespectfully, disdainfully poignant: creating or evoking a feeling of sadness or empathy genuflect: to kneel and show deference or reverence especially in a house of worship vestment: garment worn by a member of clergy or religious order Chapters XLVII-LIII: vaudeville: variety show with comedic and slapstick performances rhetorically: speaking in a theoretical or speculative manner, not literally mollify: to pacify or appease matriculate: to enroll and pass through a school or course of study munitions: collection of weapons Chapters LV-LVI: prohibition: forbidding, or, period in American history when alcohol was illegal. jauntily: cheerful and arrogant, lively sachet: small perfumed bag This vocabulary list is just one part of our study guide on A Tree Grows in Brooklyn. Please see the links below for other helpful resources: Review: A Tree Grows in BrooklynQuotes from A Tree Grows in Brooklyn

Disorders and Diseases of the Thyroid Research Paper

Disorders and Diseases of the Thyroid - Research Paper Example Introduction In evidence-based practice, only after the problem is understood and researched can medical professionals state a current best method of treatment. In this type of medical practice, medical professionals rely on cutting-edge research results to make treatment decisions, rather than on the older method of assuming that tradition and authority always held the right answers for a patient. The best patient care is recognized to be a combination of the current valid medical research, a practitioner's own experience and education, and the situation of an individual patient (Fineout-Overholt, Stillwell, Williamson, Cox, & Robbins, 2010). Applied to the area of thyroid dysfunction, evidence-based and best practice guidelines could mean recognizing the effect of a specific patient's lifestyle on their body's health in order to tell the difference between simple obesity and a depressed thyroid, for example, and keeping up with the most current literature on which types of thyroid hormones are considered to be most effective (Maas, 2007). Since by some estimates, as much as five percent of the general female population and more than twenty-five percent of the entire population over the age of seventy-five suffers from some form of thyroid disease, it is vitally important that the medical community understand these issues as they relate to thyroid dysfunction (Maas, 2007; Mulryan, 2010). Some types of thyroid dysfunction result in the over-production of metabolic hormones. This over-production results in a condition known as hyperthyroidism (Mulryan, 2010). Hyperthyroidism is most commonly seen in women until the age of sixty-five or seventy-five, at which point, as in seen in thyroid disease across the board, the incidence greatly increases and becomes equally likely between the sexes (Gutierrez, 2008). As would be expected from a gland whose purpose is to regulate the body's metabolism, hyperthyroidism leads to a severely increased basal metabolic rate. The overactive thyroid can produce as much as five to fifteen times the normal amount of thyroid hormones and can result in a myriad of detrimental effects on the rest of the body. This increase in secretion is achieved through an increase in the size and an available cellular matrix of the thyroid gland, so that many more cells can live within the gland, as well as through an increase in the secretion of the hormone by the individual thyroid cells (Hall, 2011). Generally, this condition is induced by a direct infection within or damage to the thyroid gland itself, though it can also occur rarely as a secondary disorder when there is a dysfunction in the pituitary or hypothalamus glands (McCance, Huether, Brashers, & Rore, 2010). The most common diseases that lead to either the primary or secondary dysfunction of the glands are auto-immune diseases, while some causes of reversible primary damage to the thyroid itself are an iodine deficiency in the diet or viral infection of the thyroid (Mulryan, 2010).  

Understanding Cultural Differences in Successful Global Businesses Essay

Understanding Cultural Differences in Successful Global Businesses - Essay Example Understanding Cultural Differences in Successful Global Businesses This paper shall discuss the thesis that understanding cultural differences is fundamental to success in global business. This paper shall first discuss the common differences apparent in various corporations and businesses. Secondly, it shall then review how corporations are dealing with these differences. Thirdly, a deeper understanding of cultural differences and how they impact on successful global businesses will be presented. Lastly, this essay will provide a summary and conclusion of the discussion. This article is being carried out in order to establish a clear and deeper understanding of globalization as well as the impact of cultural differences in relation to this phenomenon. Body In the current business context, cultural differences have a significant impact on the way businesses are carried out. Culture refers to shared values which impact on perceptions, attitudes, as well as responses. These qualities are very much apparent in the workplace and marketplace. Language is one of the main elements of culture and although English is considered the universal language, not all states speak it. Despite the universality of English however, corporations have sought to expand their language functionality, noting the marked increase in the number of languages being used in the business world, including Chinese, Spanish, and Japanese. For most international companies, most of them have understood that in order to be globally competent, they need to establish at least two versions of their websites. Japanese companies, for example, have adopted two versions of their websites – one in their native language and another one in English (Scholtens and Dam, 2007). Through these adjustments, these companies have managed to be accessible to their country and to the international community. Hofstede (1980) discusses how other elements of culture also impact on the effective globalisation of businesses. These elements include: power distance, uncertainty avoidance, individualism, masculinity, and long-term orientation. Power distance refers to the extent by which the less powerful m embers of society accept power (Hofstede, 1980). Cultures of Japan, Asian, and other Latin countries have high power distance relationships, however, this is low for the Nordic, Anglo, and German cultures (Robbins and Stylianou, 2008). Uncertainty avoidance is seen based on how people adjust to uncertainties, with some cultures having weak uncertainty avoidance and others having strong uncertainty avoidance. The Anglo and Nordic areas are known to have weak uncertainty avoidance, and the Latin, German, Asian, and Japan cultures have strong uncertainty avoidance (Robbins and Stylianou, 2008). As for individualism and collectivism, those which are individualistic are usually those who stick to rights of privacy and individual freedom; for those with collectivist cultures, their press is often controlled by the state and private lives are within public realms of interest (Robbins and Stylianou, 2008). Anglo, Nordic, Latin, and German cultures portray individualist qualities, while Asia n cultures have collectivist cultures. In relation to gender divisions, the masculine-dominated cultures are those which have aggressive and assertive males and have strong material success goals; on the other hand, feminine cultures tend to focus on preservation, conservation, and sympathy for the weak (Robbins and Styl

Rude Awakening :: essays papers

Rude Awakening The day was over and I lay in my rack wide-awake wishing I were in my own bed at home. As I recalled the events of the day, I began to fully comprehend the magnitude of my decision to join the Navy. I was about to spend my first night in the Navy’s boot camp. I thought of the shower I had experienced earlier. It was my first experience of a mass community shower. The shower was an extra large yellow tiled stall with 12 chrome showerheads. Six on each sidewall evenly spaced apart. Showering two girls to a head, orders to hurry were being barked from the female RDC’s monitoring us. RDC’s are Recruit Division Commanders; they are in charge of our boot camp learning experience. The next set of girls waited nervously just outside the stall for their turn. The shower experience was definitely something I was going to have to get use to. I lay in the top rack of my bunk, feeling sad and a little silly. I missed my family and friends and I felt silly for feeling so emotional and sad. I was surprised at how sad I was feeling and thought maybe I was being a baby. I turned my head to survey my surroundings and I took notice of the girl in the top bed of the bunk next to me. She was lying on her stomach resting on her elbows and crying as she wrote, probably a letter to someone she missed from home. I could hear her soft faint sobs. I could see by the expression on her face that she was fighting back her urge to cry out loud. I looked around the rest of the room and soon got the impression that this girl and I were not the only ones who were feeling blue. I was cold and tired and I knew I should get some sleep so I curled up into a ball and fell asleep. I don’t recall actually falling asleep. I just remember that I was awakened by a series of loud crashes. The crashes were followed by voices piercing into the darkness. I sat up and without any thought to it I jumped off the bed, not remembering I was on the top rack, and landed surprisingly on my feet. Rude Awakening :: essays papers Rude Awakening The day was over and I lay in my rack wide-awake wishing I were in my own bed at home. As I recalled the events of the day, I began to fully comprehend the magnitude of my decision to join the Navy. I was about to spend my first night in the Navy’s boot camp. I thought of the shower I had experienced earlier. It was my first experience of a mass community shower. The shower was an extra large yellow tiled stall with 12 chrome showerheads. Six on each sidewall evenly spaced apart. Showering two girls to a head, orders to hurry were being barked from the female RDC’s monitoring us. RDC’s are Recruit Division Commanders; they are in charge of our boot camp learning experience. The next set of girls waited nervously just outside the stall for their turn. The shower experience was definitely something I was going to have to get use to. I lay in the top rack of my bunk, feeling sad and a little silly. I missed my family and friends and I felt silly for feeling so emotional and sad. I was surprised at how sad I was feeling and thought maybe I was being a baby. I turned my head to survey my surroundings and I took notice of the girl in the top bed of the bunk next to me. She was lying on her stomach resting on her elbows and crying as she wrote, probably a letter to someone she missed from home. I could hear her soft faint sobs. I could see by the expression on her face that she was fighting back her urge to cry out loud. I looked around the rest of the room and soon got the impression that this girl and I were not the only ones who were feeling blue. I was cold and tired and I knew I should get some sleep so I curled up into a ball and fell asleep. I don’t recall actually falling asleep. I just remember that I was awakened by a series of loud crashes. The crashes were followed by voices piercing into the darkness. I sat up and without any thought to it I jumped off the bed, not remembering I was on the top rack, and landed surprisingly on my feet.

Feasibility Studies for Bookstore and Coffee Shop

CHAPTER I The Project and Its Background This chapter provides all necessary information on the company’s background and nature of business. This includes the company name, location, nature of the business, historical background, mission, vision and core values statement, company objectives and feasibility criteria. Company Name During ancient times, leaves are used as a writing instrument in the form of â€Å"papyrus† which provides the knowledge and ideas that built the early civilization of mankind. It is an instrument which made people survive and improve their everyday life, and also, to help exist the world today.It became our inspiration in putting up a bookstore, the idea of which is to provide information, knowledge, and ideas that will help in supplementing the complex thinking of every person. The Leaflets Bookstore is then formed because of the said conceptualized idea and inspiration. Just like a leaf that produce food for a tree, Leaflets Bookstore will al so serve as an instrument in educating people and equip them with knowledge that will help them in forming their own idea of life. Location â€Å"A good location is as important as the product†.Strategically located in Northridge Congressional Avenue Quezon City, Metro Manila with the size of 237 square meters. More than adequate parking space. Reasonably priced per square meter. Rental Payments as well as additional payments shall be stated within the leasing terms including registration of utilities and amenities. Nature of the Business Leaflets Bookstore’s goal is to serve our customers with resources with that will enrich their minds and improve their skills. It also aims to provide them with the most efficient way of book shopping.The bookstore will offer a large variety of books including published and second-hand/used books. It shall also offer a â€Å"book bank service† which will provide used books for rent intended mainly for those customers who cannot afford to buy the books for sale and for those who want to â€Å"stop, sit and read†. A mini-cafe will also be established providing snacks and drinks that will make our customers’ reading experience more enjoyable. Historical Background An idea to enrich every mind by gathering and providing reading materials created our will to pursue a bookstore business.We know that by giving such service, this generation will have their minds filled with necessary information and knowledge. A generation with a good readership will create a responsible generation. Also, a bookstore that is filled only by books and other reading materials makes it plain and regular. We taught that by providing other services more people will come and will be encourage to read. With these little ideas, Leaflets Bookstore came to be. Mission, Vision and Core Values Statement Mission:Leaflets Bookstore aims to provide wide variety of books and other reading materials with prices fair enough for the yo uth and middle-class households. Our purpose is to give the best services a bookstore can have with a very relaxing ambience suitable for reading moods complemented by light meals and hot-and-cold drinks through our mini-cafe. Vision: Leaflets Bookstore endeavor to become the most innovative in providing wide variety of books; offering the best place for reading that will give satisfaction to our valued customers. And to be able to extend our services to other parts of the country who are in need of our offerings.Core Values: Quality, integrity and service are the utmost concern of Leaflets bookstore. We aim to provide our customers with books of good quality and give them excellent service. Company Objectives: 1) To gain an identifiable market share by 35% in the first 2 years of operation. 2) To increase the company’s profit margin by 10% per year. 3) To gain the company’s overall return-on-investment before its 10th year of operations. 4) To reach out to class A-B a nd C customers through extensive promotional tools and services. Feasibility Criteria Innovation.All innovation begins with creative ideas. We define innovation as the successful implementation of creative ideas within an organization. In this view, creativity by individuals and teams is a starting point for innovation; the first is necessary but not sufficient condition for the second. Originality. An original work is one not received from others nor one copied based on the work of others. Accessibility. Accessibility is a general term used to describe the degree to which a product (e. g. , device, service, environment) is accessible by as many people as possible.The products that we offer must be accessible to our market at all times Creativity. Creativity is typically used to refer to the act of producing new ideas, approaches or actions, while innovation is the process of both generating and applying such creative ideas in some specific context. CHAPTER II Management Aspect This chapter contains information on the company’s management aspect. It includes the pre-operating period, form of business organization, management control, financing, liabilities of the owner and personnel requirements. A.Pre-operating Period [pic] Figure 1 Gantt Chart B. Form of Business Organization Leaflets bookstore is organized by people who bind themselves through the aid of a written legal agreement to contribute their resources to create a common fund and later divide the profit based on the portion of contribution to the fund. It is advantageous for the businessmen to form a partnership because the unlimited liability of the partners make it attractive from the point of view of the creditors to extend loans beyond the capacity of the partnership to pay.The combined personal liability of the partners also offers a better proprietorship. Since more than one person participates in the business, closer supervision of all its activities will be attained. All partners direc tly involve in the management of the business and each has specific tasks and responsibilities to perform. The partnership will be composed of three (3) partners. It is a general partnership. All three partners are general-industrial partners who will contribute money and property as their capital. C. Management ControlThe firm will establish two major positions that will handle the firm’s operation. A General Manager, who is a major shareholder in the partnership, entitled to establish the company policies and is responsible for supervising the company’s direction and growth; and the Operations Manager, who is also a general partner, entitled to supervise all of the company’s existing systems and is responsible for executing the general manager’s policies and instructions in line with the company’s direction. To facilitate all financial records of the business an accountant will be hired.Our day to day cash and credit transactions will be taken ca re of by the cashiers. Sales Representatives will be hired to assist our valued customers. The organizational structure systems and design id formulated by the firm to allocate system operations and responsibility to every designated part of the organization. Making it possible to maintain the company’s organizational unity in its working capabilities. D. Financing The business will have an initial capital of P30,000,000. This excludes the personal assets of the partners which will later be used in case of insolvency.The capital will cover the financing from the pre-operating period up to the start of the normal operation. This includes the acquisition of the book supplies, furniture and fixtures, cash registers, utensils etc. This also covers the rental fees, advertising and promotional fees, operational expenses and other miscellaneous expenses. Table 1 Capital Contributions |Elmer Rico C. Jimenez |P 10,000,000 | |Daryl L.Deita |P 10,000,000 | |Rafael B. Nepomuceno |P 10,0 00,000 | | | | |TOTAL |P30,000,000 |E. Business Relations Leaflets will maintain good mutual affairs with its suppliers—Book City, a used book supplier, Rex Publishing, Goodwill Bookstore, CLC Philippines and Anvil Publishing which will provide us with various types of published books that we will sell and Convenient Distribution Incorporated, Del Monte Philippines and Nestle Philippines for our food products. We will also keep a cordial relationship with our customers especially to those who provide us with used books through buy-and-sell transactions.F. Business Secret Bookstores are very common nowadays and as a newbie in the market, Leaflets has to have an edge among its competitors. We offer a book bank service in which the customers can rent some of our books. We put value to our customers. We keep our prices as affordable as possible and we make sure that our products are available all the time. G. Liabilities of the Owner Each partner contributed to the capital in order to sustain the needs of the partnership.In case the possibility of loss or if bankruptcy occurs, the partners are obliged to either contribute their own personal assets in order to comply with the demand of the creditor, accept a new partner or dissolve the business. H. Legal Requirements Before the start of the business operation, legal requirements are to be sought. Listed below are the following requirements and the respective agencies where they can be acquired: Table 2 Legal Requirements AGENCY |REQUIREMENT | |Securities and Exchange Commission (SEC) |Business Name Registration, Articles of Partnership | |Department of Trade and Industry (DTI) |Registration for Partnership | |Quezon City Hall |Business Permit | |Bureau of Internal Revenue (BIR) |BIR Registration number, Tax payer Identification | | |Number(TIN),Registration of book invoice and OR, VAT Certificate | | |number | |Social Security System (SSS) |Certificate of Membership; SSS Employer ID number | |PhilHeal th |PhilHealth Insurance Form | I. Organizational Chart Figure 2 Organizational Structure of Leaflets Bookstore J. Personnel Table 3 Personnel Requirements: POSITION |DUTIES |QUALIFICATIONS |SALARIES & FRINGE BENEFITS | |Accountant |Responsible for the preparation |20-35 years old, male or female |P15,000 | |(1) |of the financial statements and |CPA or a BS Accountancy graduate |SSS, PhilHealth, Pag-ibig | | |other business transactions. |with at least two years if | | | |Supervises and coordinates |experience and has a pleasing | | | |activities relative to the |personality. | | |maintenance of complete, | | | | |accurate and up to date | | | | |accounting records of | | | | |transaction, control and | | | | |handling of funds, preparation | | | | |of required reports and costing | | | | |of products. | | | |Cashier |Responsible for all the daily |18-25 years old |P15,000 | |(2) |payment transactions and cash Preferably female, |SSS,PhilHealth, | | |register operation |College leve l or a graduate of |Pag-ibig | | | |any course with good | | | | |communication skills, highly | | | | |trainable and has a pleasing | | | | |personality. | |Sales Representatives |In-charge with the assortment |18-23 years old |P9,000 | |(3) |and monitoring of books, |At least college level, highly |SSS, PhilHealth, | | |clearing the area and assisting |trainable, with pleasing |Pag-ibig | | |the customers with their needs. |personality and hardworking. | | Hiring Policies: The recruitment process will include the following activities: 1. Print ads to inform that employees are needed to by the newly established bookstore. 2.Screening, interview and examination will be conducted upon submission of application forms. Employment Procedures: 1. Qualified applicanres:eas clease training areas cleas all the timeinaryn the customers with their needs. an instrument in educts will be notified within the day during the application process and scheduling of training. 2. Physical and medical e xamination, NBI clearance, SSS number and 2Ãâ€"2 pictures should be submitted within one week. 3. Newly hired employees shall undergo an orientation. 4. A contract is to be signed by the employees upon fulfillment of the conditions. Training Procedures: 1. Trainees are required to wear proper uniform during training. 2.One week training period will be given to the trainees. 3. They are given a one-hour break during trainings. 4. They are expected to arrive 30 minutes before their shifts. 5. Trainees caught doing unlawful activities such as smoking and sleeping is subject to immediate disciplinary action. 6. Trainees are expected to keep the training areas clean all the time. Rules and Regulations: 1. All employees are expected to wear complete uniforms and observe proper hygiene. 2. Employees are expected to arrive an hour before their respective time of duty. 3. Visitors are not allowed during working hours. 4. Employees must consult the supervisor in charge in case of customer co mplaints. 5.Cellular phones/ Telephone calls are strictly prohibited during working hours except in case of emergency. 6. All employees covered by this agreement shall strictly observe and adhere to faithfully comply with the company rules and regulations. 7. No covered employees shall be discharged, suspended or otherwise subjected to disciplinary action without being informed of the act or violation. Working Days and Hours of Work: 1. The established regular days of operation shall be seven (7) days a week from 9am to 9pm equal to twelve (12) hours a day (a total of eighty-four (84) hours a week). 2. The company shall prescribe its regular or official work day, working time, work shift and rest day of employees. 3.The regular or official work day, working time, work shift and rest day of any employee may be changed or modified by the company from time to time upon notification to the employees concerned depending on their circumstances or when the operation of the company requires . Leave of Absence with Pay: 1. Vacation leave 2. Sick leave Maternity leave 3. Paternity leave 4. Educational leave Overtime Pay: Employees who, due to the necessities of the operations, may be required by the company to render the necessary overtime work during the regular work days, rest days, and legal holidays, especially during the store sessions such as school openings, Christmas, etc shall be entitled to the payment of overtime pay in accordance with the law.For the purpose of the overtime pay, the legal holidays shall include the ff: 1. New Year’s Day 2. Araw ng Kagitingan 3. Labor Day 4. Independence Day 5. National Heroes Day 6. All Souls’ Day 7. Bonifacio Day 8. Christmas Day Non-working holidays: 1. Holy Wednesday 2. Maundy Thursday 3. Good Friday 4. Black Saturday 5. December 31 (New Year’s Eve) 6. All Saints’ Day 7. December 24 (Christmas Eve) Bonuses: 1. 13th Month Pay The company shall give 13th month pay to employees who have completed a t least 1 year of continuous and satisfactory service with amount equivalent to his/her monthly basic pay and shall be given on the 15th of December. CHAPTER IIIMARKETING ASPECT This chapter contains information on the company’s marketing aspect. It includes the supply and demand data, prices and the marketing programs to be used to promote the business. A. Demand YC = a + bx a = ? y / n b = ? xy / ? x2 x = years as measured from the middle year(s) n = number of past years covered Y (Demand) = Total population x % Primary target market x % tryers x % users x frequency of purchase A survey was conducted for the purpose of identifying the potential market share of Leaflets bookstore. It is composed of 250 respondents, mostly students and young professionals belonging to the class A-B and C of the market.It also aims to know the readership of the market, the bookstores where consumers usually buy, the number of potential customers interested in a bookstore with a mini-cafe; the consumer preferences in terms of the type of book that they buy, the budget spent for books by the consumers and their income level. [pic] Figure 3 Pie Chart Graph of the Readership of the Market [pic] Figure 4 Pie Chart Graph of the Bookstores where consumers usually buy [pic]Figure 5 Percentage Distribution of potential customers interested in a bookstore with a mini-cafe’ [pic]Figure 6 Percentage Distributions of Consumer Preferences [pic]Figure 7 Percentage Distribution of the Income Level of the Market [pic]Figure 8 Percentage Distribution of the budget spent on books by the consumers [pic]Figure 9 Percentage Distribution of the Sex of the potential consumers [pic]Figure 10 Percentage Distribution of Age Level of the Potential Consumers | | | †¢ Ninety-four percent (94%) of Filipino adults can read (Simple words at least). †¢ Ninety-percent (90%) of Filipino adults have read books, while 68% have read non-school books. †¢ Twenty-two percent (22%) of Fili pino adults read nonschool books at least weekly, while another 22% read nonschool books only a few times a year. †¢ Ninety-one percent (91%) of those who read non-schoolbooks do so to get information or gain additional knowledge, while 9% do so for enjoyment of amusement. Seventeen percent (17%) of Filipino adults, in the past year, read only one non-schoolbook, while 14% read at least ten non-school books. †¢ Filipino adults from ages 18-24 read more non-school books, with five books as average, compared to older ones, in the past year. †¢ Fifteen percent (15%) of Filipino adults bought at least one non-schoolbook for personal reading in the past year. †¢ Forty-two percent (42%) of Filipino adults do not know if a public library exists in their locale. †¢ Seventy-six percent (76%) of those who read non-school books do not borrow from libraries. †¢ Only 4% of Filipinos have home libraries. †¢ Fifty-eight percent (58%) of those who bought non-schoo l books for personal reading spent at most P 200 in the past year. Fifty-seven percent (57%) of Filipino adults prefer to read non-school books in Tagalog, 30% prefer English, and 13% prefer Cebuano. †¢ Romance/love stories (26%) and the Bible (38%) are the most popular non-school books read by Filipino adults. The National Book Development Board commissioned the Social Weather Stations to conduct a survey on the reading attitudes and preferences of Filipinos. This is the most comprehensive study on book readership in the country. The survey was conducted from March 10 to 25, 2003 with 1,200 respondents composed of 300 voting-age adults from every study area: National Capital Region, Balance Luzon (areas within Luzon but outside NCR), Visayas, and Mindanao.The sample size has an error margin of +/-3% for the entire Philippines and +/-6% for every study area. Of the total respondents, 63. 6% are from rural areas, while 36. 4% from urban. Of the total respondents, 7. 7% belong to classes ABC, 67. 4% class D, and 24. 8% class E. Significant Findings of the Book Readership Survey Readership of the 7 -17 years old age group Nationwide, 60% of the households surveyed have family members aged 7-17. Of these households, 35% have at least one member of the 7-17 age group who reads non-schoolbooks. Of the total family members aged 7-17, only 26% read non-schoolbooks, but most of those who read non-schoolbooks read at least weekly.Readership of non-schoolbooks among members aged 7-17 tends to be higher among females, classes ABC, those with a library at home, and those whose household heads have high education. The most popular non-schoolbooks read by the 7-17 age group are the Bible (22%) and romance novelettes (22%). Readership of Filipino Adults The good news is 94% of Filipino adults can read (simple words at least). 90% have read books at least some time in their lives. 68% have read nonschoolbooks. For those who read, 91% read to gain knowledge while 9% read f or enjoyment. Accessibility of Bookstores and Libraries The survey reveals that many of the respondents (42%) are not aware if a library exists in their locale. 0% say that bookstores are not within walking distance from their residence, and 18% do not know if there is a bookstore in their locale. Data gathered from the National Library show that there are only 511 municipal libraries out of 1,496 municipalities, and 49 provincial libraries out of 80 provinces. Adult readership of non-schoolbooks tends to be higher among: †¢ those with high levels of education, †¢ those who attended private rather than public schools, †¢ those from upper socio-economic levels, †¢ those with higher personal monthly income, †¢ those from urban rather than rural areas, †¢ those younger in age, †¢ those who are not married, †¢ those who have libraries in their homes and offices, those living nearer to bookstores and public libraries, and †¢ those whose social networks (kith and kin) also like to read. While Filipino adults generally recognize the value of reading books, many (43%) can let a whole year pass without reading a single non-schoolbook. On the other hand, 15% read 2-3 non-school books, and 14% read at least 10 non-school books. Books are read more for gaining knowledge and information, and thus perhaps book reading is considered something to do when the need arises. Watching TV, movies and videotapes, listening to the radio, and going to malls seem much more fun to do. Perhaps parents, educators, publishers, and advertisers ought to do more to portray book reading as fun to do too.Filipino adults generally find books to be good gifts, and although considered costly, a book is not regarded as a luxury item but a necessity. The survey shows that readership of non-schoolbooks is higher among Filipino adults from the upper socio-economic classes who have reached high levels of education and attended private schools, are younger, e ither single or without a partner, and live in the urban areas. Moreover those who live near libraries and bookstores read more often. The Bible (38%) and romance novels (26%) are the most commonly read books by adult readers. The highest percentages of Bible-readers are from Mindanao (51%), class E (43%), females (42%), and 45 and above years old (49%).The highest percentages of romance novel readers are from Balance Luzon (27%) and Visayas (27%), class E (28%), females (37%) and 18-24 years old (46%). After the Bible and romance novels, females like to read about cooking (11%), while males read about politics (10%). Manner of Acquiring Non-Schoolbooks Allowing for multiple answers, the following are the means through which Filipino adults who read non-schoolbooks acquire them: borrowing from other people (52%), receiving books as gifts (40%), borrowing from libraries (24%), renting (18%), and buying (15%). Majority of respondents from all study areas and all socio-economic classes do not borrow from libraries. Buying Non-SchoolbooksThe percentage of those who bought non-schoolbooks for personal reading in the past year increases with social class, educational attainment, and personal monthly income. 58% of Filipino adults who bought non-schoolbooks in the past year spent only a maximum of P200. 16% spent more than P1,000. Among classes ABC, 38% spent more than P 1,000. B. Supply Supply of Book retailers within Metro Manila = 1,399 C. Prices Table 4 List of Books from Rex Publishing Co. |ITEM |AUTHOR | |COPYRIGHT |PRICE |WITH 20% MARK UP | |DESCRIPTION | |QTY. | | | |Rex Publishing Co. | | | | | | |ACCOUNTING | | | | | | |Tax Accounting Digest |Co, Untian Jr, |10 |2008 |420. 00 |504. 60 | |Basic Accounting Concepts and |Garcia, et al |10 |2006 |250. 00 | | |Procedures | | | | |300. 0 | |Bookkeeping Manual for |Galanza, R. M |10 |2006 |151. 00 | | |Merchandising Companies | | | | |180. 20 | |Accounting Principles and | | | | | | |Procedures |Galanza, et al | | 2003 |272. 00 | | |Sole Proprietorship Vol. 2 | |10 | | |326. 0 | |Merchandising | | | | | | |Accounting Principles and | | | | | | |Procedures |Galanza, R. M | |2003 |254. 00 | | |Sole Proprietorship Vol. 1 | |10 | | |304. 80 | |Servicing | | | | | | |Partnership and Corporation |Carillo, J. L | |1997 |207. 00 | | |Accounting | |10 | | |248. 0 | | | | | | | | |BUSINESS LETTER WRITING | | | | | | |Business Finance |R. Medina |10 |2007 |250. 00 |300. 00 | |Business Finance (Philippine |Dela Cruz | |2005 |350. 00 | | |Environment) | |10 | | |420. 00 | |Merger and Acquisition of |Nasution E. | |2005 |344. 0 | | |Philippine Banks | |10 | | |412. 00 | |Business Ethics |Padilla, R. A |10 |2004 |200. 00 |240. 00 | |Integrated Business and |Abulencia, E. | |2001 |223. 00 | | |Technical Communication | |10 | | |267. 60 | |Business Correspondence |Baraceros, E. L |10 |2000 |188. 00 |225. 0 | |CHEMISTRY | | | | | | |Inorganic Chemistry |Miessler, et al |10 |2008 |988. 00 |1185. 60 | | | |10 | | | | |COMPUTER | | | | | | |Application Software |Reyes, F. D |10 |2007 |247. 00 |261. 60 | |Application Software |Reyes, F. D |10 |2006 |218. 00 |282. 0 | |Secret of Designing for |Mangilit |10 |2005 |235. 00 |417. 60 | |Websites | | | | | | | | | | | | | |EDUCATION | | | | | | |Student Teaching Work text |Atienza, et al |10 |2007 |285. 00 |342. 0 | | | |10 | | | | |Principles of Teaching 1 |Acero, et al |10 |2007 |180. 00 |216. 00 | |Introduction to Special |Inciong, T. |10 |2007 |335. 00 |402. 00 | |Education | | | | | | |Foundations of Education |Recto, A. |10 |2005 |164. 00 | | |Vol. 2 | | | | |196. 80 | |Foundations of Education |Recto, A. | |2005 |296. 0 | | |Vol. 1 | |10 | | |355. 20 | |Strategic Planning of Education|Miclat, E. F |10 |2005 |378. 00 |453. 60 | |Foundations of Education |Calderon, J. F |10 |1998 |416. 00 |499. 20 | |Principles an Strategies of |Acero, et al | |2000 |278. 00 | | |Teaching | |10 | | |333. 0 | | | | | | | | |ENGLISH | | | | | | |English for Edu cational |Francisco, S. |10 |2006 |255. 00 | | |Purposes | | | | |306. 00 | |Communication Skills I: |Baraceros, E. L | |2005 |273. 00 | | |Improving Study and Thinking | |10 | | |327. 0 | |Skills in English | | | | | | |Enhancing Basic Research and |Lacia, et al |10 |2004 |164. 00 | | |Writing Skills | | | | |196. 80 | |Fundamentals of English Grammar|Cruz, et al |10 |2001 |456. 00 |547. 20 | |Communication Skills 2 |Baraceros, E. L |10 |2000 |157. 00 |188. 0 | | | | | | | | |ENGINEERING | | | | | | |Engineering, Contracts, |Mendoza, G. | |1998 |385. 00 | | |Specifications and Ethics | |10 | | |462. 00 | |Strength of Materials |Mejia, et al |10 |1998 |169. 00 |202. 0 | | | | | | | | |FILIPINO | | | | | | |Komunikasyon sa Akademikong |R. Dinglasan |10 |2007 |273. 00 |327. 60 | |Filipino | | | | | | |Panitikan ng Lahi |Belvez, et al |10 |2006 |360. 00 |432. 00 | |Kritisismong Pampanitikan |Dimglasan, et al |10 |2005 |279. 00 |334. 80 | |Sulyap sa Panulaang Filipino |Macaraig, M. |10 |2004 |302. 00 |362. 0 | |Makabagomg Balarilang Filipino |Santiago |10 |2003 |279. 00 |334. 80 | |Pagbasa at Pasgulat sa |Casanova |10 |2001 |290. 00 |348. 00 | |Iba;t-ibanf Disiplina | | | | | | |Retorikang Pamgkolehiyo |Casanova |10 |2001 |302. 00 |362. 40 | |Panitikan sa Pilipinas |Rubin, et al |10 |2001 |350. 00 |420. 0 | | | | | | | | | | | | | | | |FOREIGN LANGUAGE | | | | | | |Learn to Speak English, |Belvez, P. M | |2003 |279. 00 |334. 80 | |Japanese and Filipino | |10 | | | | | | | | | | | |HOTEL AND RESTAURANT MANAGEMENT| | | | | |Nutrition and Dietetics |M. McWilliams |10 |2007 |838. 00 |1005. 60 | |A Guide to Meal Management and | | | | | | |Table Service |Soriano, N. N |10 |2004 |182. 00 |218. 40 | |Nutrition and Home Technology |Mortola, et al |10 |1997 |188. 00 |225. 60 | |Fundamentals in Meal Management|Dizon |10 |1994 |191. 00 |229. 0 | | | | | | | | |LITERATURE | | | | | | |Literatures of the World |Sialongo,et al |10 |2007 |318. 00 |381. 60 | |Treasures of the Phi lippine |Viar, et al | | 2006 |218. 00 |261. 60 | |Regional Literature | |10 | | | | |Literatures of the Philippines |Lacia, et al |10 |2003 |344. 00 |441. 60 | |The Literatures of Asia and |Duka, C. R |10 |2001 |242. 00 |290. 0 | |Africa | | | | | | | | | | | | | |MANAGEMENT AND MARKETING | | | | | | |Fundamentals of Strategic |N. A Orcullo | |2007 |265. 00 |318. 00 | |Management | |10 | | | | |Business Organization and |Medina, R. | |2006 |291. 00 |349. 0 | |Management | |10 | | | | |Human Resource Management |Corpuz, C. R. |10 |2006 |281. 00 |337. 20 | |Management Theory and Practice |Lorenzana |10 |2003 |241. 00 |289. 20 | |Marketing Management |Lao, F. 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D. |10 |2006 |312. 00 |374. 40 | |Students | | | | | | |Plane Trigonometry |Mejia, et al |10 |2004 |305. 00 |366. 00 | |Modern College Algebra |Dayrit, et al |10 |2002 |253. 00 |303. 0 | | | | | | | | |NURSING | | | | | | |Study and Thinking Skills in |Aquino, A. |10 |2007 |282. 00 |338. 40 | |Nursing | | | | | | |Concepts in Biology |Enger, et al |10 |2007 |1299. 00` |558. 80 | |Nurse’s Pocket Drug Guide |Barberio, et al |10 |2007 |625. 00 |750. 00 | |Math and Dosage Calculation for| | |2007 |748. 00 |897. 60 | |Medical Careers |Booth, K.H |10 | | | | |Human Anatomy |Saladin, K. |10 |2005 |1199. 00 |1438. 80 | |NCLEX-RN Review |Dahlhauser, M. |10 |2006 |759. 00 |910. 90 | |Developing Community Nursing |Spencer, et al | |2006 |534. 00 |640. 80 | |Practice | |10 | | | | |Ethics for Nursing |Padilla R. A |10 |2005 |248. 00 |297. 0 | | | | | | | | |PHILOSOPHY, ETHICS AND LOGIC | | | | | | |Business Ethics and Social |F. Roa |10 |2007 |230. 00 |276. 00 | |Responsibility | | | | | | |Logic for Nursing Students ad |Rivas, et al | |2006 |289. 00 |346. 0 | |Professionals | |10 | | | | |Medical Ethics |Padilla, R. A |10 |2006 |291. 00 |349. 20 | |Ethics in the Philosophical |Babor, E. R | |2006 |157. 00 |369. 60 | |Discipline of Action | |10 | | | | |Introductions to Philosophy |Ramos, C. R |10 |2004 |290. 00 |348. 00 | |Business Ethics |Padilla, R. A |10 |2004 |200. 00 |240. 0 | | | | | | | | |PSYCHOLOGY | | | | | | |Introduction to Psychology and | | | | | | |Understanding Human Behavior |Arenas |10 |2004 |501. 00 |601. 20 | |Educational Psychology |Gines, et al |10 |2003 |422. 00 |394. 80 | |Introductory Course in Group |Tria, et al |10 |1999 |220. 00 |264. 0 | |Dynamics | | | | | | |General Psychology |Gines, et al |10 |2003 |422. 00 |506. 40 | |Developmental Psychology |Gines, et al |10 |1998 |260. 00 |312. 00 | |Person ality Development and |Sanchez, C. A | |1996 |219. 00 | | |Human Relations | |10 | | |262. 80 | |Industrial Psychology |De Leon,E. B |1a0 |1993 |326. 00 |391. 0 | | | | | | | | |REFERENCE | | | | | | |Techniques and Strategies in | | | | | | |Taking the Civil Service |O. Yebra |10 |2008 |190. 00 |228. 00 | |Commission | | | | | | | | | | | | | |RESEARCH/THESIS WRITING | | | | | | |Research Methods and Thesis |Calmorin, et al |10 |2007 |357. 00 |428. 0 | |Writing | | | | | | |Principles and Methods of |ARiola, M. |10 |2006 |323. 00 |387. 60 | |Research | | | | | | |Methods of Research |Acero |10 |2006 |187. 00 |224. 40 | |Statistics for Research |Subong, et al |10 |2005 |270. 00 |324. 00 | |Research Methods |Sevilla, C. G |10 |1992 |318. 00 |381. 0 | | | | | | | | |RIZAL | | | | | | |Jose P. Rizal: Isang Aklat sa |Adanza, et al |10 |2002 |218. 00 |261. 60 | |Pandalubhasang Kurso | | | | | | |Jose P. Rizal: Life, Works and |Acibo, et al | |1995 |215. 00 |258. 0 | |Role in the Philippi nes | |10 | | | | | | | | | | | |SCIENCE | | | | | | |Introduction to Biology |M. Melchor |10 |2007 |165. 00 |198. 00 | |Essentials of Physical Science |Malenab, et al |10 |2006 |337. 00 |404. 40 | |Essentials of Anatomy |Singh,I. |10 |2005 |603. 00 |723. 60 | |Environmental Science |Santiago, F. |10 |1996 |202. 0 |242. 40 | | | | | | | | |SOCIAL SCIENCE | | | | | | |Introduction to Sociology and |Palispis, E. S | |2007 |190. 00 |456. 00 | |Anthropology | |10 | | | | |Philippine History |Halili, M. C |10 |2004 |271. 00 |325. 0 | | | | | | | | |PRE- SCHOOL AND CHILDREN’S | | | | | | |BOOKS | | | | | | |Ang Unang Alpabetong Pilipino |Agno, L. N |10 |1990 |90. 00 |108. 00 | |Bumasa Tayo |Agno, L. N |10 |1990 |45. 85 |55. 02 | |Flowers are here and there |Agno, L. N |10 |1990 |47. 50 |57. 00 | |Fruits for Children |Agno, L. N |10 |1990 |44. 50 |53. 40 | |Learning Basic English |Agno, L.N |10 |1990 |79. 50 |95. 40 | |Learning Language the Easy |Cosme. V. |10 |2001 |89. 95 |107. 94 | |Way(P) | | | | | | |Learning English the Easy |Cosme, V. |10 |2001 |80. 00 |96. 00 | |Way(N) | | | | | | |Learning English the Easy |Cosme, V. |10 |2001 |99. 5 |119. 94 | |Way(K) | | | | | | |Learning Math the Easy Way(K) |Munio, A. |10 |2001 |120. 00 |144. 00 | |Learning Math the Easy Way (N) |Munio, A. |10 |2001 |107. 00 |128. 40 | |Learning Math the Easy Way (P) |Munio, A. |10 |2001 |139. 75 |167. 70 | |Learning Reading the Easy Way |Bautista |10 |2000 |99. 75 |119. 4 | |(K) | | | | | | |Learning Reading the Easy Way |Bautista |10 |2001 |130. 00 |156. 00 | |(N) | | | | | | |Learning Reading the Easy Way |Bautista |10 |2001 |118. 00 |138. 00 | |(P) | | | | | | |Mag-isip, Magbasa at Gumawa (K) |Bautista D. |10 |2001 |188. 0 |141. 60 | |Mag-isip, Magbasa at Gumawa (N) |Bautista D. |10 |2000 |99. 95 |119. 44 | |Mag-isip, Magbasa at Gumawa (P) |Bautista D. |10 |2001 |130. 00 |156. 00 | |Mga Pambansang Sagisag Natin, | | | | | | |PRIMER |Agno L. N. |10 |1990 |37. 75 |45. 30 | |Musi cal Instruments |Agno L. N. |10 |1990 |46. 75 |56. 0 | |My Friend Jesus (K) |Terania, A. T |10 |2001 |95. 00 |114. 00 | |My Friend Jesus (N) |Terania, A. T |10 |2001 |69. 00 |82. 80 | |My Friend Jesus (P) |Terania, A. T |10 |2000 |75. 00 |90. 00 | |The Alphabet PRIMER |Agno L. N |10 |1988 |96. 00 |115. 20 | |Unang Hakbang sa Pagbasa |Agno L. N |10 |1957 |9. 50 |11. 0 | |Write It Right (K) |Gocalin G. B |10 |2001 |109. 25 |131. 10 | |Write It Right (N) |Gocalin G. B |10 |2001 |93. 00 |111. 60 | |Write It Right (P) |Gocalin G. B |10 |2001 |93. 00 |111. 60 | |NEW TITLES | | | | | | |Go Bright with Science |Alacar R. |10 |2008 |225. 00 |270. 0 | |Getting Ready to Read (N) |Tugade |10 |2006 |95. 00 |114. 00 | |Fun with Colors and Shape(N) |Tugade |10 |2006 |85. 00 |102. 00 | |Fun with Alphabets and Sounds(N) |Tugade |10 |2006 |135. 00 |162. 00 | |Starting Reader(K) |Tugade |10 |2006 |120. 00 |144. 00 | |Growing Reader(K) |Tugade |10 |2006 |95. 00 |114. 0 | |Thinking Reader (P) |Tugade |1 0 |2006 |80. 00 |96. 00 | |Super Reader (P) |Tugade |10 |2006 |80. 00 |96. 00 | |CHILDREN’S STORYBOOKS | | | | | | |A Gift for Santa Claus |Sulpicio M. C |10 |1997 |80. 00 |96. 00 | |Dalawang Puyo |Sulpicio M. C |10 |2001 |60. 00 |72. 0 | |Olivia the Octopus Princess |Sulpicio M. C |10 |1999 |150. 00 |180. 00 | |Polka Dot Mommy |Sulpicio M. C |10 |2001 |65. 00 |78. 00 | |Princess Oyster |Sulpicio M. C |10 |1997 |80. 00 |96. 00 | |The Guardian Angel’s Christmas List|Sulpicio M. C |10 |1997 |80. 00 |96. 00 | |The Sunflower Queen |Sulpicio M. C |10 |1997 |80. 00 |96. 0 | |Bryan Learns his Lesson |Babao C. B |10 |2004 |130. 00 |156. 00 | |Basura Monster |Babao C. B |10 |2007 |150. 00 |180. 00 | |The Story of Christine |Babao C. B |10 |2007 |150. 00 |180. 00 | |At Muling Ngumiti si Haring Araw |Papasin B. |10 |2008 |130. 00 |156. 00 | Table 5 List of Books from Anvil Publishing ANVIL Publishing |ISBN |ITEM |AUTHOR |QTY. COPYRIGHT |PRICE |WITH | | |Desc. | | | | |20% | | | | | | | |MARK UP | | |MARKETING | | | | | | | | | | | | | | |9712715795 |A Treasury of |Felix Lao |10 |2005 |95. 00 |114. 0 | | |Quotes for | | | | | | | |Marketing | | | | | | |9712714284 |Treasury Quotes- |Felix Lao |10 |2005 |95. 00 |114. 00 | | |Mktg. Practitioner | | | | | | |9712709965 |Art and Advertising|Emmanuel Uy|10 |2000/SB |250. 00 |300. 00 | |9712709957 |Art and Advertising|Emmanuel Uy|10 |2000/HB |595. 00 |714. 0 | |9712714616 |Creative Selling |Felix Lao |10 |2004 |95. 00 |114. 00 | | |Techniques | | | | | | |9712712494` |E- Marketing |Leonardo |10 |2002/BP |395. 00 |474. 00 | | | |Garcia | | | | | |9712712486 |E- Marketing |Leonardo |10 |2002/NP |250. 00 |300. 0 | | | |Garcia | | | | | |9712706664 |Marketing Cases 1 |Dr. Felix |10 |1997/NP |295. 00 |354. 00 | | | |Lao | | | | | |9712710971 |Marketing Cases 2 |Dr. Felix |10 |2001/NP |195. 00 |234. 00 | | | |Lao | | | | | |9712718236 |Pharmaceutical Bus. |Dr. Felix |10 |2006/BP |580. 00 |696. 0 | | |Cases |Lao | | | | | |9712718243 |Pharmaceutical Bus. |Dr. Felix |10 |2006/NP |295. 00 |354. 00 | | |Cases |Lao | | | | | |9712718212 |Pharmaceutical Care|Dr. Felix |10 |2006/BP |585. 00 |702. 00 | | | |Lao | | | | | |9712718229 |Pharmaceutical Care|Dr. Felix |10 |2006/NP |295. 00 |354. 0 | | | |Lao | | | | | |9712711862 |Pharmaceutical | | | | | | | |Eco. ,Adm. & Acctg. |Dr. Felix |10 |2002/NP |220. 00 |264. 00 | | | |Lao | | | | | |9712706656 |Pharmaceutical | | | | | | | |Marketing 2nd Ed. |Dr. Felix |10 |1997/NP |180. 00 |216. 0 | | | |Lao | | | | | |9712705683 |Pharmaceutical | | | | | | | |Marketing 3rd Ed. |Dr. Felix |10 |1999/NP |420. 00 |504. 00 | | | |Lao | | | | | |9712718427 |Pharmaceutical | | | | | | | |Marketing 4th Ed. |Dr. Felix |10 |2006/BP |950. 00 |1140. 0 | | | |Lao |

The Effect Of Macroeconomic Information Finance Essay - Free Essay Example

Sample details Pages: 9 Words: 2783 Downloads: 10 Date added: 2017/06/26 Category Economics Essay Type Cause and effect essay Did you like this example? In this study, we examined some peculiarities or differences between selected macroeconomic variables and the UK FTSE All Share Index. The secondary data used in this study are monthly FTSE All Share index of London Stock Exchange and selected macroeconomic variables, including consumer price index, industrial production index and average earnings index (whole economy) between January 2000 and October 2009. The economic data were collected from Office of National Statistics while FTSE All Share Index from Yahoo! Finance which covers a period between January 2000 and October 2009. Don’t waste time! Our writers will create an original "The Effect Of Macroeconomic Information Finance Essay" essay for you Create order To measure the effect of macroeconomic information on UK FTSE All Share Index, I will utilize multiple regression analysis. In general, stock market is affected by macroeconomic information. INTRODUCTION Economic factor has been attributed to be the cause of stock market movement (Fama 1981). In same vein, the stock market is a common feature of an economic growth and it is reputed to perform some necessary functions, which promote the growth and development of the economy. Stock market returns shows an efficient market hypothesis (EMH), Fama (1991). Fama argues that stock prices do not show a strong form nor weak form but rather semi-strong form efficiency. This means that stock price movement must reflect all publicly available information and not fundamental or technical analysis about the security. Athanasios and Antonios (2009) are of the same view with Famas hypothesis affirming that the negative relationship between stock returns and inflation reflects positive impact of real variables on stock returns. The link between stock market performance and economic growth has complemented this hypothesis among analysts based on their study of developed and emerging markets. Chong and Goh (2005) emphasize the importance of macroeconomic variables as relating to investors earning abnormal profit returns. Geske and Roll (1983) and Kaul (1987) emphasize the importance of policy responses in explaining stock returns. The determination of the overall growth of an economy depends on how efficiently the stock market performs its allocative functions of capital (Tokunbo n.d). As the stock market mobilizes savings, concurrently it allocates a larger proportion of it to the firms with relatively high prospects as indicated by its rate of returns and level of risk. The importance of this function is that capital resources are channelled by the mechanism of the forces of demand and supply to those firms with relatively high and increasing productivity thus enhancing economic expansion and growth (Alile, 1997). However, stock markets play an important role in stimulating economic growth. The FTSE All-Share Index is a market-capitalisation weighted index comprising of over 600 companies listed on the London Stock Exchanges main market. The index base date is 10 April 1962 with a base level of 100. The FTSE All-Share Index is considered to be the best performance measure of the overall London equity market with the vast majority of UK-focused money invested in funds which track it. According to FTSE report 2008, the FTSE All-Share Index accounts for 8.11% of the worlds equity market capitalisation. 1.1 RATIONALE OF THE STUDY A great deal of research has been conducted in the developed market (US, UK, Australia, Belgium, France etc) and in emerging markets (India, Nigeria, Russia etc) as regards the relationships between macroeconomic variables and stock market returns. Nil Gnsel and Sadk ukur (2007) examined the effect of economic variables on London Stock Exchange but with a different approach, different methods and different time period covering 1980-1993. They found out that macroeconomic factors have a significant effect in the UK stock exchange market. Also, in the emerging markets, Tokunbo (n.d) examined the case of Nigerian Stock Exchange and came out with a conclusion that there is a positive relationship between growth and all the stock market development variables. However, my empirical studies will focus on selected macroeconomic variables as well as the time period different from the one used by the above researchers. This will be distinguishable by testing the effect of Average Earnings Index (excluding arrears and bonuses) on stock market index. 1.2 AIMS AND OBJECTIVES The relationship between economic growth and stock market has been the subject of intensive theoretical and empirical studies (James Laurenceson, 2002). The question is whether stock market development causes economic growth or reversely. The main objective of this study is to empirically examine some peculiarities or differences that exist between selected macroeconomic information (especially Average Earnings Index) and stock market index, a case study of FTSE All Share Index using regression analysis. The study covers for the period of January 2000- October 2009. 1.3 RESEARCH QUESTIONS The following research question will form the core of empirical investigation of studies. Do, index of industrial production, Average Earnings Index, and Composite Consumer Price Index affect FTSE All Share Index? If, yes to what extent? This will be proved or shown empirically via correlation and regression model. We would like to know if there is relationship among the economic variables used. 2.0 LITERATURE REVIEW Recent empirical study has found quantitative evidence relating stock market to the secular bull and bear cycles, their patterns of returns and volatility, and the relationships between the market and the economy. The stock market is perceived as an indicator to mirror the economy through which long-term funds mobilization are provided (Inanga and Emenuga, 1997). The link between stock market and key economic variables in developed and emerging market is well documented. The link can be attributed to research of Christopher Gan et al. (2006), Arestis Demetriades (1997), Robert D. Gay, Jr (2008), Taufiq Choudhry (1999), Chen, Roll and Ross (1986), Stijn Van Nieuwerburgh et al. (2005), Athanasios and Antonios (2009), and Priestly (1996) in which their studies identified the relationship between stock market returns and macroeconomic factors in terms of production rates, productivity, GDP growth rate, unemployment, inflation rate, exchange rate, money supply, etc. Christopher Gan et al. (2006) examined whether the New Zealand Stock Index(NZSE40) is cointegrated with a group of macroeconomic variables (the inflation rate, long term interest rate, short term interest rate , exchange rate index , GDP, money supply (M1) and domestic retail oil prices) in the long run. They affirmed that the NZSE40 is majorly determined by the interest rate, money supply and real GDP and no strong evidence for the stock market index to be a leading indicator for changes in macroeconomic variables. In a similar context, Arestis Demetriades (1997, p.785-790) concluded that the relationship between stock markets and economic development in the US was largely positive but insignificant in the case of Germany. Robert D. Gay, Jr (2008) investigated the Brazil, Russia, India and China (BRIC) stock market and the linkage with two macroeconomic variables (exchange rate and oil price). It was evidenced that there exist relationship between exchange rates and stock prices for Brazil, India, and China but not for Russia. The other economic variable, oil price do not show a significant relationship between the three stock market exchanges. Priestley (1996) suggested the factors that may carry a risk premium in the UK stock market with seven macroeconomic and financial factors (default risk, industrial production, exchange rate, retail sales, money supply unexpected inflation, change in expected inflation, terms structure of interest rates, commodity prices and market portfolio). Taufiq Choudhry (2001) investigates how stock market in four high inflation countries reacts to inflationary pressure. The countries he investigated were Argentina, Mexico, Venezuela and Chile during the 80s and 90s. The results show that past and present inflation has relationship with the current stock returns and there is inverse relationship with one-period lagged inflation. Poon and Taylor (1991) reflect their study on the United Kingdom stock market using ARIMA model. It was affirmed that macroeconomic variables strongly affect stock returns in USA than in UK. Their findings were related to Chen, Roll and Ross (1986) and reemphasize the importance of representing only the unexpected component of share returns and macroeconomic variables. However, effort was also made by Stijn Van Nieuwerburgh et al. (2005) with the view of Institutional changes affecting the stock exchange explain the time-varying nature of the link between stock market development and economic growth. He studied to what extent macroeconomic factors could affect stock market changes in Belgium for a period between 1873 and 1935 using Granger Causality tests. Athanasios and Antonios (2009) used four different approaches to examine the causal relationship between stock market development and economic growth, a case study of France for the period 1965-2007. The methods are (1) unit root test: to examine stationary (2) Johansen co-integration analysis: to examine whether the variables are co-integrated of the same order (3) A vector error correction: to investigate the long-run relationship between stock market development and economic growth (4) Granger causality: to examine the direction of causality between the examined variables of the estimated mode l. They concluded that A short-run increase economic growth of per 1% leaded to an increase of stock market index per 0.24% in France, while an increase of interest rate per 1% leaded to a decrease of stock market index per 0.64% in France It is so glaring that research has been conducted to find what set of relationship could exist between stock market return and macroeconomic variables. Different approaches were used, from granger causality, johansen co-integration, regression analysis etc and different economic factors; inflation rate, production index, export and import indices, money supply, unemployment rate etc to reflect the relationships. Our study is to use a multiple regression analysis and review what other researchers has done about macroeconomic influence on stock market. 3.0 DATA AND METHODOLOGY To examine the effect of macroeconomic variables on stock market movement, we use monthly return data for the period January 2000 to October 2009 (118 observations) for all variables. The data used can be categorized into dependent and explanatory variables. Dependent Variable FTSE All Share Index- The data used is the monthly figure of FTSE All Share Index (a market-capitalization weighted index), an aggregation of the FTSE 100 Index, FTSE 250 Index and FTSE SmallCap Index listed on the London Stock Exchanges main market. Explanatory Variables: Index of Production CPI Inflation Average Earnings Index (whole economy, excluding payment of arrears and bonuses) Index of Production (IoP) is measured at base year prices (2000). The index measures the volume of industrial production (manufacturing, mining and quarrying, and energy supply industries). According to Office of National Statistics, IoP is used as- short-term economic indicator; a component of the production or output measure of GDP; and a requirement for the Statistical Offices of the European Community (Eurostat). CPI Inflation is a measure estimating the average price of consumer goods and services purchased by households. The percent change in the CPI is UK measure of inflation for macroeconomic purposes and forms the basis for the Governments inflation target. Average Earnings Index (whole economy, excluding payment of arrears and bonuses) measures the growth of earnings in UK economy. The index measures how earnings in the latest month compare with those for the last base year (2000). According to Office of National Statistics, average earnings are obtained by dividing the total amount paid by the total number of employees paid, including those employees on strike and temporarily absent. 3.1 SOURCES OF DATA The data used in this study is monthly data from January 2000 to October 2009. Data for the Industrial Production Index, Consumer Price Index, and Average Earnings Index were obtained from Office of National Statistics while data for the FTSE All Share Index was obtained from Yahoo! Finance. 3.2 METHODOLOGY In this study we examine the relationship between the dependent and explanatory variables using regression analysis. Regression analysis helps us understand how the typical value of the dependent variable changes when any one of the independent variables is varied, while the other independent variables are held fixed. The method to be performed is outlined below: Scatter plots Estimated regression model Significance testing of the variable Estimating the coefficient of multiple determination Scatter Plots The diagnostic plot for multiple regression is a scatter plot of the residuals, against the predicted values . We use this plot to see the nature of relationship that exist and if the predictions can be improved by identifying outliers, transformation of predictors to achieve linearity, and unequal variability Estimated Regression Model We considered three explanatory variables; Index of Production (, CPI Inflation, and Average Earnings Index to be investigated for their relationship with a response variable FTSE All Share Index returns model as follows: This holds for the population of the values of response and explanatory variables. Where called regression coefficients of the explanatory variables while ÂÂ µ is the error term that assumed normal distribution (ÂÂ µ) with mean, 0 and standard deviation, . We will therefore need to fit a regression line through the observations of the sample (Koutsoyiannis, 1977). The estimated regression lines thus: Where are the estimates of respectively. The regression coefficients of the explanatory variables (Index of production, CPI Inflation and Average Earnings Index) quantify the amount of the response variable (FTSE All Share Index return). Testing the response variable and Regression Coefficients We used student t-test to examine if explanatory variables are significant predictor of the response variable. The t-statistics is given as: Where is given as: is the hypothesised value, K is the number of parameters and n is the number of sample observation. Then we set the hypothesis: If the hypothesised value, then the testing amounts to deciding if the explanatory variables are a significant predictor of the response variable. However, in testing the overall significance of the regression we set the hypothesis: This test aims at finding out whether the explanatory variables do actually have any significant influence on the response variable. The easiest way to reach a decision is by means of p-values. A p-value less than 5% suggests that the estimated model is significant. Estimating coefficient of multiple determination The coefficient of multiple determination (denoted by ), in the four variable-model shows the percentage of the total variation of the response variable, Y that is explained by changes in the explanatory variables, . Therefore: The value of lies between 0 and 1. The higher the greater the percentage of the variation of response variable (the better the goodness of fit) explained by the regression plane (Koutsoyiannis 2003). 4.0 ANALYSIS OF THE RESULT The results that were obtained after running the data through Microsoft Excel 2007 are as follows: The value of R (Correlation coefficient) obtained for our data is approximately 0.72 which lies between 0 and 1 indicating a positive relationship between stock market index (FTSE All Share Index) and the selected macroeconomic variable (index of production, Inflation and average earnings index). Coefficient of multiple determination () for our data is approximately 0.52 which indicates that the model fit the data. Also, the Adjusted which represents a somewhat reduced value of indicates that 52% of the total variation in FTSE All Share Index is due to CPI Inflation, Index of Production and Average earnings index. The estimated regression model becomes; Where: FASI- FTSE All Share Index IoP- Index of Production CPI- CPI Index AEI- Average Earnings Index The results suggest that at 0.05 and 0.01 level of significance comparing with , there is a significant relationship between the FTSE All Share Index and all the macroeconomic variables (Index of Production, CPI Index, and Average Earnings Index) used. We use Pearsons correlation coefficient as a measure of correlation. The results suggest that there is a weak positive correlation between FTSE All Share Index and the macroeconomic variables (Index of Production, CPI Index, and Average Earnings Index) used. However, among the macroeconomic variables, there is a strong positive relationship between Average Earnings Index and CPI Index. There exist strong negative relationship between CPI Index and Index of Production, and between Average Earnings Index and Index of Production. 5.0 CONCLUSION We have been able to answer the research questions base on the empirical analysis conducted on the data. We found that there exists a significant and a weak positive relationship between FTSE All Share Index and the selected macroeconomic variables (Index of Production, CPI index and Average Earnings Index). Also we were able to show that; An increase (decrease) in CPI Index should lead to Increase (decrease) in Average Earnings Index. Decrease (increase) in Index of Production Also, an Increase (decrease) in Average Earnings Index should lead to decrease (increase) in Index of Production. However, Chen et al. (1986), Christopher Gan et al. (2006) and Athanasios Vazakidis and Antonios Adamopoulos (2009) have suggested a negative relation between stock returns and inflation which is contrary with our findings suggesting a positive relationship between FTSE All Share Index and CPI Index. Our study support research conducted by Chen et al. (1986) and Thornton (1993) on the relationship that exists between Stock market and real economic activity. Index of Production is one of the measures of real economic activity. Thornton studied the UK market and concluded that a stock return is being affected by real economic activity. The relationship among industrial production, interest rates and the SP 500 Index seem to suggest that the interrelationships among the three variables are insignificant (Mallaris and Urrutia, 1991). Therefore, it can be concluded that there exist relationship between stock market and macroeconomic variables. APPENDIX