Technology Implementation Paper Essay Example | Topics and Well Written Essays - 1250 words - 1

Technology Implementation Paper - Essay Example It includes all marketable or transferable product, process, service, standard, know-how, methodology, software, network, experience, etc. The new instrument based on innovative technology always comes with a manual of instructions that aims to make it efficient and user-friendly. As thus it can simplify the working and make it easier and faster to handle. That finally increases the productivity of instruments or machines. Today, the market is competitive, and companies adopt new technology to survive in such conditions. The consumer demands the best, and the new technology meets the expectations of the users. The good implementation method poses a healthy competition, and consumer gets its benefit. The absence of new evolution would wipe out the service provider companies and products from the market. So the companies invest substantial sum wisely in new technologies. In certain cases it becomes an issue of live and die importance. Hence the investment in new technology at appropria te time and place is paramount. A fit technology company can displace the misfit companies. The example of mobile phones is before us that slowly and steadily being displaced by internet phone. Vodafone, a mobile phone services provider, losing 17% of its profits in 2006 due to the rise of the company Tesco an internet phone provider (Foroohar, 2006). In fact, the internet based phone service is cheaper and faster than the mobile phone. It is the necessity of modern market trend to remain abreast with contemporary updated technology. This paper will discuss how Trudy & Solingen Ltd. implements or introduces VC technology system in all of its offices, mobile and site units. It further presents proposals and ideas needed to be shared by management, technical, and non-technical staffs on following information: Project plan Implementation plan Training plan Support strategy Project Plan: The remedy to settle various problems and improve the condition is based on the planning. In the wak e of growing branch and site offices the company records huge increase and complexity of density of the data center. Therefore the management of Trudy & Solingen introduces the Virtual Connect (VC) technology in all of its offices and centers by the end of April 2011. This system takes the existing LAN and SAN management interface. Again, it adds an abstraction or virtualization layer, between the edge of server and network. Consequently, the external networks connect to a shared resource pool of servers. The system modules use VC management tools to create connection profile for each server, and server profiles contain information about server addresses, connections, and boot parameters. The project plan is to simplify system interconnections to boost the efficiency and productivity of data center server, storage, and network administration. All concerned employees and staffs of the company have been directed to be involved in the program to ensure its success. As a consequence of the implementation of VC technology that virtualizes the connections between server and network infrastructure, the networks can communicate with pools of servers. Despite of days or weeks now the changing of servers is a deal of minutes. There are several profitable and less time consuming feature of this plan. The company strives to implement this plan to increase the revenue and offer better services to

As below in the instruction Essay Example | Topics and Well Written Essays - 500 words

As below in the instruction - Essay Example iour the Effectiveness, the article describes cultural and universal leadership aspects, how different key cultures from different countries influence leadership are also discussed. Not only does these suggestions aim at helping global executives predict and understand challenges of leadership that he or she might encounter while operating outside America, but also help them to come up with coping strategies while faced with such challenges. Different cultures from China, Egypt, Brazil and France have been used for this research since they represent various cultures and are from different cultures. According to Javidan, Dorfman, De Luque, & House (2006, p. 69), common cultural dimensions that would help a global manager to understand and be open minded about other countries cultures, and be able to make a comparison between their own cultures and those of the host country are such attributes like performance orientation. Performance orientation involves giving culturally appropriate rewards and encouragement for better performance. How people relate with each other is also important. Some of the countries are less assertive while others are highly assertive. Some countries also have practices that are highly future-oriented while others are not. Some countries rank high in human orientation while others rank low. Other attributes are in-group collectivism, power distance, gender egalitarians, and uncertainty avoidance (Javidan et al. 2006). The variation in leadership from different cultures is determined by cultural leadership beliefs held by members of different countries. The research further argues that the content and structure of these systems of beliefs can be shared in common cultures among individuals. Therefore, they came up with culturally endorsed implicit leadership theory that helped them to identify different leadership qualities among different nations. These qualities are team oriented, charismatic, Participative, human oriented,

Statistics Coursework Example | Topics and Well Written Essays - 1000 words

Statistics - Coursework Example A marketing manager of a well-known bookstore in the UK conducted a survey measuring customers’ loyalty. Customers’ Loyalty was measured with one question on an ordinal scale from 1 to 10, with lower values indicating less strength and higher values greater strength. The manager also took details on their gender. The manager performed a t-test to examine whether there was an association between the variables loyalty and gender. The results are shown below. The difference between the means is evidently significantly low at 0.86. However, from the test results, the p value 0.0002 is less compared to the significance level of 0.05. For this reason, we reject the null hypothesis. We may thus conclude that loyalty may be associated with gender. It means that the difference between the mean loyalty level of males and the mean loyalty level of the females is 0.86. That is mean of male group minus mean of female group is -0.86. The negative sign shows that the mean of the female group is higher than the mean of the male

Point cloud- technical report Essay Example | Topics and Well Written Essays - 1250 words

Point cloud- technical report - Essay Example enabling the point clouds to be used for a number of uses, which include the creation of the 3D CAD models, which are used in the manufacture of various parts. In addition, the point clouds are beneficial in animation, mass customization functionality (MCEACHRON, 2010). Despite the fact the point clouds can be expressly submitted and inspected, they are not expressly usable in majority of the 3D applications. In this cases, the point clouds are first converted into the either the polygon or triangle mesh before use. Such applications include the industrial computed tomography. This essay seeks to highlight the fundamental aspects of the Trimble GS 200 and how it is used in focusing and identifying targets. In addition, the essay will illustrate the method attributed to target identification. This is a type of terrestrial scanner, which helps in acquiring intense and precise 3D data of a scene. The instrument works well to achieve quality data in a milieu free of systematic distortions. The instrument is apt in capturing coordinates and surface data. This is possible through the leading-edge technology. In addition, the Trimble GS series provides an extreme versatility to meet the ever-trending challenges in the market. Use of the Trimble’s 3D data-editing software assures data sets, which are advanced in terms of the final deliverables. On a similar note, the GS series scanners offer both the indoor and outdoor examination through 360 degrees (HeÃŒ no, & Chandelier 2014). The Trimble scanner has a maximized performance of 200 m. the instrument’s Over Scan technology is attributed to the ability of capturing data up to 350 m. other attributes of this instruments include the real time true color, high resolution and panoramic snapshot among many others. It is imperative to note that all these factors work together to offer increase productivity and functionality of the Trimble GS series scanner. The calibration of the GS200 was done twice independently in a

The US and Thailand Free

The US and Thailand Free Essay The US and Thailand Free commenced negotiations in respect of a Free Trade Agreement (FTA) on June 28, 2004. Approximately six rounds of talks between the two countries have been conducted pursuant to the FTA negotiations as of 2006. US Chamber of Commerce: Trade Policy) The overall intent is to liberalize â€Å"trade in goods, agriculture, and investment† and harmonization of intellectual property rights (Ahearn and Morrison, 2004) Ever since the founding of the World Trade Organization (WTO and its General Agreement on Trade and Services (GATT) developed nation member states, such as the US have adhered to the WTO’s policy to help developing and less developed member states such as Thailand improve their economic growth by entering into bilateral trade agreements with them. (Fbiosa et ales, 2005) Thailand has over the years demonstrated a keener willingness to open its markets to liberalized trade than many of the other Asian nations. This particularly so in the area of agriculture. Relations between Thailand and the US commenced as early as 1833 with the Trade and Amity and Commerce Agreement. (US Chamber of Commerce: Trade Policy) By 1966 the Treaty of Amity and Economic Relations was successfully negotiated between the two countries with each country granting the other equal trade treatment. (US Chamber of Commerce: Trade Policy) The 1966 Treaty came to an end in 2004, although extended by mutual agreement to December 2006, the FTA is intended to take its place. (US Chamber of Commerce: Trade Policy) Aside from the economic benefits to both countries, the US hoped to strengthen US-Thailand relations for the purpose of combating terrorism. This fact together with cultural differences, a political crisis in 2006, health concerns and Thailand’s relationship with other Asian nations have proven problematic for both countries in reaching a mutual agreement. (US Chamber of Commerce: Trade Policy) This paper examines the US-Thailand FTA Agreement, its history and its future track with reference to the difficulties that impede bringing the negotiations to a final conclusion. History and Background Thailand has long since been regarded as an ally of the US, a position that was only fortified during the Cold War period and strengthened even further following the terror attacks on the US on September 11, 2001. (Chanlett-Avery, 2006) The relationship between the US and Thailand has always been characterized by mutual trade and economic interests. (Chanlett-Avery, 2006) Following the 2001 terrorist attacks in the US the relationship took on a new dimension when it became obvious that Thailand shared, at least in part the US desire to fight terrorism in the Southeast Asian region. (Chanlett-Avery, 2006) These facts and circumstances together with Thailand’s strong economic and political ties to China puts Thailand in a position to have some influence in the Far East. (Chanlett-Avery, 2006) Recognizing the strategic economic and political position of Thailand in the Asia-Pacific area and its close ties with the US, President George Bush â€Å"designated† Thailand â€Å"as a major non-NATO ally in 2003. † (Chanlett-Avery, 2006) This designation is partly due to Thailand’s history of support to the US during the Cold War and partly due to its position with respect to the US counter terrorism initiatives. (Chanlett-Avery, 2006) Aside from sending troops to aide the US in its wars in Afghanistan and Iraq, Thailand authorities arrested a â€Å"high-profile† Islamic rebel in a â€Å"joint Thai-US operation† in 2003. (Chanlett-Avery, 2006) Co-existing with these diplomatic and amicable relations was the Treaty of Amity and Economic Relations between the US and Thailand which was signed in Bangkok on May 29th 1966. (US-Thai Treaty of Amity, 1966) The 1966 Treaty permits US citizens and companies incorporated in Thailand or in the US to hold all the shares in a business situated in Thailand and to conduct business in Thailand in the same manner as Thai citizens. There were certain restrictions on American investments including land holding, fiduciary services, communications, transportation, domestic agricultural trade and damaging natural resources. (US-Thai Treaty of Amity, 1966) The Treaty also provided favourable treatment to Thai businessmen upon application for entry visas into the US for business purposes. Moreover, there were no restrictions on repatriating funds to Thai by Thai business concerns in the US. (US-Thai Treaty of Amity, 1966) The Treaty of Amity and Economic Relations should have expired in September 2006 but was extended to a further period of 90 days bringing it to an end in December of 2006 instead. (US Chamber of Commerce: Trade Policy) In anticipation of the expiration of the Treaty of Amity and Economic Relations and the economic success of trade relations between the US and Thai, President Bush and Thai Prime Minister Thaskin announced on 19 October, 2003 plans to negotiate a bilateral trade agreement between the two countries. (Ahearn et ales, 2004) In March 2004, both countries announced that negotiations would commence in June of 2004. (Ahearn et ales, 2004) The first two rounds of negotiations took place in Thailand in 2004 with a third round taking place there in 2005. (Ahearn and Morrison, 2006) Fourth and Fifth rounds of negotiations were conducted in Montano on September 26-30, 2005 in Hawaii and earlier in the year at Montana on July 15. (Ahearn and Morrison, 2006) A sixth round was conducted in Thailand which ended all talks as a result of political unrests in Thailand. (Ahearn and Morrison, 2006) While some progress was made at the fifth round of talks in Hawaii, the remaining talks were for the most part unsuccessful. Essentially what was agreed to at the fifth round of talks was the removal of barriers to trade with the emphasis on tariffs with respect to goods crossing US borders to Thailand and vice versa. (Thailand’s Legal News Update, October, 2005) Both the United States and Thailand also agreed that Internet Service Providers should be included in all talks relative to intellectual property rights protection. (Thailand’s Legal News Update, October, 2005) Further agreement was made by the US to permit Thailand patent protection with respect to its rice and silk products. (Allison, 2006) The details of these agreements are discussed in much greater detail later on. The World Trade Review reported that the fourth round of negotiations held in Montana did not yield particulars of any specific agreements. However, the talks went well enough to ensure that both parties were likely to come to an arrangement at the fifth round of talks in Hawaii, (World Trade Review, 2005) which as previously noted did yield a consensus on tariffs and patent protection on rice and silk. In Montana, both US and Thai negotiating teams met with business representatives of Montana and were equally impressed with the importance of agricultural trade in the US. The negotiators also met with business officials within the telecommunications, financial, automobile, energy and additional service factions of the community. (World Trade Review, 2005) The World Trade Review believes that the results of this meeting and round of talks helped to pave the way for some agreement in the next round of talks. (World Trade Review, 2005) Be that as it may, relations between the US and Thailand were not without some difficulties. James A. Kelly, Assistant Secretary of State for East Asia and Pacific Affairs touched on a number of issues that were problematic for the US in his address to the Asia Foundation in Washington, D. C. on March 13, 2002. Noting that both countries shared a mutual interest in the concepts and benefits of security, liberty democracy and maintaining free and open trade markets Kelly also noted that there was a growing perception in Thailand that the US was either acting in bad faith or trying to take advantage of Thailand. (Kelly, 2002) Other problems were highlighted at the Bilateral Conference on United States-Thailand Relations in the 21st Century. (Bilateral Conference on United States-Thailand Relations in the 21st Century, 2002) The Bilateral Conference took place in Washington D. C. on March 11-13 under the auspices of 10 senior Thai government officials who met with American trade and government officials for the express purpose of debating the important isses within the context of a bilateral trade agreement. (Bilateral Conference on United States-Thailand Relations in the 21st Century, 2002) There was evidence of a strain in US-Thai relations following the US war with Vietnam from a Thai perspective. Many Thais felt that the US had neglected Thailand and felt even more disenchanted with the US following the Asian financial crisis of 1997 especially with respect tot he US’s the unduly strenuous conditions placed by the International Monetary Fund (IMF) with respect to Thailand’s aid relief. (Bilateral Conference on United States-Thailand Relations in the 21st Century, 2002) By the end of the 90s both political and economic relations between the two countries was quite often tense. (Bilateral Conference on United States-Thailand Relations in the 21st Century, 2002) The waning relationship was complicated by a failure on the US’s part to offer a viable loans system by way of financial relief via the IMF. Further complications arose out of the US’s failure to back-up the Thai Minister of Commerce and the Thai Deputy Prime Minister’s nominations to hold the post of World Trade Organization Secretary General in 1999. (Bilateral Conference on United States-Thailand Relations in the 21st Century, 2002) From the US’s perspective the Thai support of the US at the United Nations was weak if at all. (Bilateral Conference on United States-Thailand Relations in the 21st Century, 2002) Moreover, Thailand was reluctant to support the US position with respect to its EP-3 reconnaissance plane episode which involved China. (Bilateral Conference on United States-Thailand Relations in the 21st Century, 2002) The US also had concerns about Thailand’s position with respect to censorship in the media. Although following the September 11, 2001 terrorist attacks in the US Thailand once again closed the gap between US and Thailand with its support. (Bilateral Conference on United States-Thailand Relations in the 21st Century, 2002) In the global context, Thailand’s difficulty arises out of a desire to balance its relationship with China with that of the US. The problem for the US is in diminishing China’s stronghold on the Asian region and Thailand found itself having to balance its priorities with respect to negotiating its relationships with both China and the United States. The difficulty for Thailand was maintaining some sort of neutrality in its relationships with both super powers. (Bilateral Conference on United States-Thailand Relations in the 21st Century, 2002) Thailand’s political and economical policies reflect a desire to regularize relations within its immediate region. Of particular interest to Thailand is the strengthening of its commercial ties to regions close to its borders. Its relationship with Burma which is characterized by a trend toward conciliatory approaches is largely problematic for the US. (Bilateral Conference on United States-Thailand Relations in the 21st Century, 2002) The US would prefer it if Thailand took an isolationist approach to Burma. The problem was summarized at the Bilateral Conference. Thailand maintained what it referred to as a â€Å"constructive interaction† with its neighbour Burma and this caused some tension with the United States who would have preferred that Thailand adapted an isolationist stance with Burma. (Bilateral Conference on United States-Thailand Relations in the 21st Century, 2002) The US was also suspicious that the Thai government was lending support to regions like Malaysia and Indonesia which the US regarded as unstable and supportive of terrorist factions. (Bilateral Conference on United States-Thailand Relations in the 21st Century, 2002) The US felt that the anti-American sentiments in Indonesia and Malaysia were at risk of spilling over into Thailand. Notably Thailand Prime Minister Thaksin had been elected into office after running an â€Å"anti-American platform† and there was a concern that Thailand was faltering in its support of the United States on its anti-terrorism policies. (Bilateral Conference on United States-Thailand Relations in the 21st Century, 2002) Be that as it may, the US and Thailand had similar economic and political goals. The best approach was therefore thought to be a bilateral trade agreement. (Bilateral Conference on United States-Thailand Relations in the 21st Century, 2002)

Disempowered Individuals With Learning Disabilities Social Work Essay

Disempowered Individuals With Learning Disabilities Social Work Essay Being in the institution was bad. I got tied up and locked up. I didnt have any clothes of my own, and no privacy. We got beat up at times but that wasnt the worst. The real pain came from being a group. I was never a person. I was part of a group to eat, sleep and everything it was sad. (As cited on Mencap.org) Historically people with learning disabilities have suffered disempowerment by being excluded from mainstream society through segregation in large institutions. ( Wolfensberger, 1972) people were dismpowered by having little control over how they lived their lives. Although the Community Care Act 1990 has resulted in the closure and the resettlement of people with learning disabilities, people are still suffering disempowerment through exclusion by not being able to choose how to live their lives (Ramcharan,et al 1997). Empowerment is: à ¢Ã¢â€š ¬Ã‚ ¦concerned with how people may gain collective control over their lives, so as to achieve their interests as a group, and a method by which social workers [and other care providers] seek to enhance the power of people who lack it (Thomas and Pierson 1996, p.134). The Same As You? review is the Scottish Governments strategy for learning disability services in Scotland.   The review sets out the Scottish Governments wider policies of social inclusion, equality and fairness to enable changes to happen for the better in the lives of people with learning disabilities. A key area identified within The Same As You? is Person Centred Planning. Person-centred planning means starting with the individual and putting the supports around them that will enable them to have the life that they want. Person centred planning is a tool that can be used to plan with a person. This can be to help the person think about what is important in their life now and also to think about what what they would like in the future. Planning should include the persons circle of support and involve all the people who are important in the persons life. (Stalker and Campbell, 1998). The idea behind person central planning was to respond to problems of social exclusion, disempowerment and de-evalution. Person centred planning was developed in the 1980s by a small number of people including John O Brian and Michael Smull. As a way of enabling people with learning disabilities to move out segregated institutions and back into the main community. Person-centred planning is designed specifically to empower people, to directly support their social inclusion, and to directly challenge devaluation. By looking at what support is needed to allow the person included and involved in the community. (Magito-Mclaughlin et al., 2002). Person centred approaches offer a different alternative to the traditional model of planning used for service provision. The traditional methods of service provision operated around the individual receiving the service, with health and social care professionals making all the decisions on the type of support the individual received. The traditional model was disempowering to people with learning disabilities as it focused on the persons medical problems, ignoring the qualities of the person as human being. (Sanderson, 2003) Person centered planning places the individual at the center of the decision making process, allowing family members to become involved in the planning as Joynab, Mohammeds mother states: Person-centred planning has given us hope and a vision for a better future for Mohammed. We feel now we can have a say in how and what service support he receives. We no longer believe that only professionals know best for our son. Mohammeds faith and cultural needs are recognised and responded to.(DoH, 2010) Person centred planning looks at the persons qualities and is a way of listening to what is important in the persons life. People can direct their own services and supports, in a personalised way rather than attempting to fit within pre-existing service systems. An area where person planning has helped the person by listening to what they want enabling them to direct their services and support is through training and employment. People with learning disabilities have been marginalised from gaining employement, through the employers lack of understanding about learning disabilities and stereotypical beliefs that they are incapable of working. As a mother states I have a son who has Down syndrome..I go to the supermarkets and ask if they could try my son outà ¢Ã¢â€š ¬Ã‚ ¦I explain that he has Down syndrome, then they change the subject and say they will give me an application form.I explain my son cannot write, and they tell me he cannot get an interview without an application form.Is this a way of eliminating the disabled? (Anonymous contribution as cited by Williams,2009) People with learning disabilities benefit from working as it helps them to gain fiancial independence and security, increases their self confidence and skills and allows them to socialise. Todd (2002) demonstrates this in his report planning a new future where an agency worked with a young man with autism whose goal in life was to be an airline pilot, even though this goal was unrealistic. The support worker involved in his person-centered plan, suggested and arranged a visit to Heathrow airport once a week. The idea was to find out what interested the young man about being a pilot, was it the flying, planes or uniform? After visiting the airport for a couple of months it became apparent that the baggage carousels captivated him. The young man was then supported to get a part time job as a baggage handler. (Todd, 2002) enabling the person to become part of the community. In a way that values their human rights, gives them independence and choice. Person centred planning has a particular approach that can be used for different individuals in different situations. The four main tools that can implemented include: McGill Action Planning System (MAPS), this process is a useful tool for gathering information in the early stages of planning, helping to identify the person talents and needs. ELP (Essential Lifestyle Planning) is more commonly used to plan for people who are moving out of instititionalised care. Personal Futures Planning is less service based, tending to be used for building relationships with family, friends and fitting into the wider community. PATHS (Planning Alternative Tomorrows and Hope) is used to develop an action plan for the individual. (Stalker and Campbell, 1998, Sanderson, 2000) People with learning disabilities can have communication problems and should not be disregarded from having person centred planning for that reason. There are various techniques that can be used allow a person with a learning disability to communicate in their ideas for the plan, such as Makaton, talking mats, sign language and picture banks. (Grove, 2005) the plan can be done any format that is accessible to the person such as a written document, a drawing or mind map with images or an oral plan recorded on to a compact disc. Plans are the updated when the person wishes to make a change or when they have achieved their goal. Person centred planning is for eveyone, not just for people who can communicate. As it can engage participants personally by allowing them to hear of deeply felt hopes and dreams and fears, even if the person feels they are silly. As the planning process allows the person to break free from the misconceptions and conventions that can harness their future. Some examples of peoples dreams were a young man wanted a trip to Mexico as part of his vision. Another is taking guitar lessons as a way to achieve his goal of being a country and western singer. An older woman, in her plan, decided to retire. Another is taking art classes and learning to paint watercolours. Starting a business, going to college or university, buying a house, these are all things that are possible through person centered planning. (ne-pdd.org) Person centered planning has helped people achieve empowerment is their choice to form relationships, get married or have children. People with learning disabilities have the same need for love and relationships as do all human beings. However this need is not being met for people with a learning disability. Literature on the subject provides information about sexuality in regards to learning disabilities, however it seems to focus on disability and sexuality from the perspective of it being a problem. (Parritt, 2005.) This negative view of people with learning disabilities and sexuality stems from the historical perspective of learning disabilities, where people with disabilities were placed in institutions and segregated (Potts and Fido,1991) This level of control can still be seen today with professionals and families trying to discourage intimacy and relationships, viewing the person with a disability as vulnerable, seen as the eternal child (McCarthy, 1999) Mrs Susan Hurst and Mr Frank Hurst tell their story of Our Wedding, Our Dream where person centred planning enabled them to get married. Mrs Hurst states, some people felt there wasnt a need for us to get married but we wanted what every one else hadà ¢Ã¢â€š ¬Ã‚ ¦Getting married had always been our dreamà ¢Ã¢â€š ¬Ã‚ ¦. (csrpcp.net) Mr. and Mrs. Hurst describe how the tools of person centered planning enabled them to identify both their hopes, goals and dreams for the future this enabled them both too make all the decisions in planning for their wedding. Mr and Mrs Hurst explain that they even planned their honeymoon and travelled to their honeymoon destination without the aide of support workers, as person centered planning had enabled them to plan ahead of the difficulties that might occur and how the couple would resolve them when on holiday. Without Person centered planning Mr and Mrs Hurst would never have been able to get married or go on honeymoon. Mr and Mrs Hurst felt that person centered planning helped them to achieve their goals enabling them to feel in control of their lives, allowing them to choose their human right to get married and respect for private and family life. (csrpcp.net) There is legislation that supports the rights of people with learning disabilities to have fulfilling relationships and sex lives if that is their choice. (Article 8) states that every human being has a right to respect for private and family life. The Disability Discrimination Act (1995) gives people the right to access family planning clinics and advice centers. People with learning disabilities should be accepted as people who have the same capacity for loving as others in society.(Lesselliers, 1999) Loneliness and isolation may occur through the lack of opportunity to have loving relationships. Therefore person centred planning can enable people with learning disabilities to be empowered by allowing them to make these decisions and choosing how they want to live their lives. person centred planning improves the person quality of life. Increasing the persons right to empowerment through the right to work where they want, where they would like to live and increasing their social network by letting them choose how they would to socialise. (Whitney-Thomas et al., 1998). Relationships improve for the person at the centre of the planning, as they became more motivated and goal oriented. As the participation process allows friends and family to join in the planning and help the person achieve their goals. Parents also reported that person centred planning had such an impact on their familys lives, that they choose to become involved in training other families in the importance of person centered planning. As person centred planning is designed to focus on one person at a time, it increases the potential to broaden opportunities for people with learning disabilities in gaining the life they choose. As Person centred planning allows the person to choose how, when and where they want support or services delivered rather than the standard one size fits all approach. (OBrien Lovett, 1993). However there are limitations to person centered planning for people with learning disabilities. Insufficient funding and resources can hinder the planning process persons and their opportunity to achieve their goals, leaving people disillusioned with the process. Person centered planning requires trained and well equipped staff who are knowledgeable about inclusion, rights of people with learning disabilities and how to help empower people by directing them. As people can lose trust in centered planning if these values are not upheld. (Kinsella 2000), Person centered planning can take time to achieve targets, it is not suitable for people who require emergency planning where action needs to take place in a few days. The process is not a quick fix (OBrien Lovett, 1993). In conclusion people with learning disabilities have suffered from disempowerment in the past as a result of institutionalised care. However person centered planning has enabled people with disabilities to become empowered by allowing them to make their own choices and be fully supported about how they would like to live their life. By allowing people with learning disabilities to choose their right to employment through what job they would like to work, this in turn empowers them by gaining fiancial independence and increased self confidence, as well as learning skills and getting to meet new people. Person centred planning has allowed people to gain their right to family life and marriage, by allowing people to plan their own wedding and honeymoon giving them independence to start married life. Therefore person centered planning creates positive effects that go beyond effective planning. In that it allows people to be listened to and what is important to them. However this is only effective if what is recorded on the plan is acted on, as people will lose faith in person centered planning if no action comes from their choices.

Efficient Market Hypothesis (EMH) History and

Efficient Market Hypothesis (EMH) History and PART 2 EFFICIENCY MARKET HYPOTHESIS Introduction In order to better understand the origin and the idea behind the Efficient Market Hypothesis (EMH), an overview of the EMH, The Random Walk Model, different degrees of information efficiency and the implications of efficient markets for investors are studied in the paper. Efficient Market Hypothesis The efficiency concept is one of the most essential concepts for investment management and analysis. Market efficiency basically revolves around three related assumptions on proper- allocation efficiency, informational efficiency and operational efficiency. Efficiency in allocation is a vital characteristic of a strong market wherein the allocation of capital is done in a proper way so that it benefits all the participants and helps in promotion of economic growth and status. Efficiency in operation is another crucial parameter which is used commonly by economists to determine and analyzes how resources are utilized in the market to benefit operational activities in the market and industry. Efficiency in information helps to determine the actual market value of shares based on its intrinsic value. The Information efficiency signifies that reflection on all available information pertaining to the security’s price must be used to determine the security’s observed market price. (Hossain,Rahman, 2006) The introduction to the idea of market efficiency was given by Bachelier (1900) and later it was termed as efficient market by Fama (1965) Fama (1970) further went on to state the vital conditions/ assumptions for maintaining efficiency: Provision of no transactional costs during the trading of securities; All information is freely available to all the participants in the market, and Agreement of all of them on the implications of the information relating to the current price and future distribution of prices of each security He identified three forms of informational efficiency, which are the weak form(underdeveloped), the semi-strong form(developing) and the strong form efficiency(developed). Forms of Market Efficiency Weak-Form Efficiency Weak form efficiency market implies that it is an efficient market which reflects all its market information accurately and does not provide profit for the investor based on past records or rates. This past records stands invalid for the market. Fama (1970) stipulates in his theory that no investor can avail greater returns when the market is weak-form efficient. Example African economy has a weak efficiency market wherein the means to attain gains on investment is narrow based on past investment experience. Example trading test, auto correlation test and run test. Semi-Strong Form Efficiency Semi Strong Form Efficiency market indicates that market is efficient and it reflects all public information. It says that the stocks are absorbant of all new information and incorporates it by adjusting to it. It is partly like the weak form efficiency market wherein the stocks rate are based upon new information that is released after the stocks are bought. So making it difficult for the market to be predictable. Fama (1970) explains the semi-strong form efficient market as the one where share price not only reflect on all information regarding its past and historic prices, but also includes additional public information which is later on integrated with the shared price and adjusted to reveal the true share value. This also implies that an investor will not be able to use the public information for the generation of gains in the evolving stock market. Event tests and time series/ regression tests are some examples. Strong Form Efficiency The Strong form efficient market relies on both public as well as private information wherein the stock prices are based and reflected upon. So an average investor cannot make much profit more than others also when he is given the new information. It incorporates both the weak form and semi strong form of market efficiency. Private information concerns the information that is not yet published or known only to the security analysts/ fund managers. The new public and private information is then incorporated into the share price to represent its true share value. This makes it even more difficult for the investor to assess share values. Examples are insiders, exchange specialists, institutional money managers and analysts who have access to new information. Fundamental analysis and technical analysis This analysis makes use of analysing and evaluating the financial statements, health of the business, efficiency of the management and their competitive advantages, while also examining the competition in the market. When applied on forex and futures market it uses production, interest rates, earnings, GDP, employment, manufacturing, housing and management analysis. While technical analysis predicts the future of market based on past prices, volume and market information. This is useful for behaviour economics and quantitative analysis. Both these methods of analysis contradict the premise and study made on efficiency market theory which states that study of market with accuracy cannot be determined by any method. Implications of EMH Market efficiency has some prominent implications concerned with both authorities and investors, which are mentioned below: When a market is efficient they must 1. Not worry about analysis on their investments, but concentrate rather on developing a diversified portfolio to get rewarded for their investments. 2. Adopt to the policy of buy and hold after establishing their portfolios as making frequent changing by shifting from one securities group to another would raise for them unwarranted transaction costs. Other implications are based on the fact that changes in price are random and cannot be predicted, investors are smart enough to not get fooled by the financial reports circulated and lastly the timing of security issues are not crucial. Investors must pay more attention to construct and hold diversified and efficient portfolios rather than taking to fundamental and technical analysis. This approach will definitely benefit them in the long run. Empirical Evidences for anomalies The empirical evidence lists some of the significant ‘anomalies which contradict the efficient market theory as listed below: The January Effect It is often noticed that the stock returns raise high abnormally in the first week of January which is defined as the January effect wherein most of the investors opt to sell some of the stocks befor the year end and later claim for a capital loss to evade tax and then go on to make their reinvestments later on. (Rozeff and Kinney, 1976) Size Effect The Size Effect is the small firm’s tendency, which holds a small capital market, to outweigh and surpass the market of larger companies and rise as an underdog over the long term. (Banz, 1981) and (Reinganum, 1981) Weekend Effect This is a notable phenomenon wherein the stock returns are observed to be comparatively lower on Mondays as against those on the preceding Fridays. ( French, 1890).. Value Effect The value effect related to the nature of stocks that hold low cost, earnings ratio to outdo other alternative portfolios of stocks which have higher cost, earnings ratio. Empirical Evidences from Developing Countries Despite huge empirical studies conducted in order to test and validate the Efficient Market Hypothesis in developed countries which witness a flourishing financial market, the pertinent studies on weak efficiency markets are limited in countries like Africa. Most developing and underdeveloped countries suffer a setback due to the problem of thin trading (Mlambo and Biekpe, 2005). Fisher (1966) who first identified this bias due to thin trading on his observation on correlation of return index, stated that the security’s price that are recorded are not similar to their respective underlying values based on theory as when a share trade fails, the recorded price remains the closing price as per the last share trade. It is also stressed that reasons like transactional costs, delay in operations and illiquidity of the market are crucial in determining a concrete statistical evaluation of the study. Bibliography Cohen, W. W., 1996. Learning trees and rules with set valued features. s.l.:s.n.vol1. Fama, E., 1970. Efficient Capital markets: A review of theory and empirical work. 1ed. s.l,American Economic Review. Fisher, R. A., 1966. The design of experiments. 8ed. New York: Hafner publishing. Mikhail, M. W. R., 2004. Do security analysts exhibit persistent Differences in Stock picking ability. s.l.Journal of financial economics. Reiter, S. W. P. F., n.d. Scientific conversations in financial economics. Burlington: Ashgate publishing company.