Placement of Spanish Adverbs

As a general rule, Spanish adverbs  and adverbial phrases  are placed near the word they modify, generally right before or after. English is more flexible in this regard—it is common in English to see an adverb placed further away from the word it modifies, often tacked on the end. Examples of Adverbial Placement Note, for example, the differences in these two equivalent sentences: Aprobà ³ facilmente el examen de geometrà ­a euclidiana.She passed the Euclidian geometry test easily. In Spanish the adverb, facilmente, comes immediately after the verb, aprobà ³. In English, however, easily comes at the end of the sentence, with four words coming between it and the verb. Although it would be possible to place easily immediately before passed, it also would be acceptable to place an additional description after test and still keep easily at the end. In Spanish, it is possible to place the adverb after the object of a verb, but only if the object is made up of just a word or two. For example, either of these sentences would be an acceptable translation for The county issued two licenses previously: El condado emitià ³ dos licencias previamente.El condado emitià ³ previamente dos licencias. Emitià ³ here is the verb in the sentence, and previamente is the adverb. Previamente couldnt be placed at the end if licensias were followed by a description. For example, if the sentence were talking about business licenses, licencias de empresa, previamente would have to be placed next to emitià ³: El condado emitià ³ previamente dos licensias de empresa. If many words had followed the verb, the adverb would not be able to used at the end. An example using a variation on the last sentence would be: El condado emitià ³ previamente dos licencias de matrimonio para parejas jovenes.  The adverb previamente has to go close to the verb emitià ³. Otherwise, native speakers would not immediately connect the meaning of the adverb with the verb. Before or After the Word Being Modified? Depending on how the adverb is used, it can be placed before or after the word being modified. For example, is the adverb modifying a verb, another adverb, or an adjective? The type of word being modified usually determines where the adverb is placed in the sentence. Usually, an adverb that modifies a verb is placed after the verb. For example, The economy is based principally on three businesses, is translated as,  La economà ­a se basa principalmente en tres empresas.  Basa is the verb and principalmente is the adverb. Adverbs of Negation Exceptions to this rule are adverbs of negation such as no  or nunca, meaning no or never. Negating adverbs always precede the verb. For example, No quiero ir al cine, means,  I dont want to go to the movies. The adverb, no, comes before the verb, quiero.  Another example,  Marà ­a nunca habla de su vida personal, means, Marà ­a never talks about her personal life. The placement of the adverb is exactly the same as in English. The adverb, never or nunca, goes immediately before the verb, talks or habla. Modifying Another Adverb An adverb that modifies another adverb comes before the adverb being modified. For  example,  Pueden moverse tan rà ¡pidamente como la luz, means,They can move as quick as light. The literal translation of the sentence is, They can move really fast like the light. Tan, meaning really, is modifying  rà ¡pidamente, meaning,fast. Adverbs Modifying Adjectives An adverb that modifies an adjective comes before the adjective. Estoy muy contento, means, I am very happy.  Muy is an adverb that means, very, and contento is the adjective, meaning happy.   Adverbs Modifying an Entire Sentence An adverb that modifies an entire sentence often comes at the beginning of the sentence, but there is some flexibility, and it can be  placed in different spots in the sentence. For example, take a look at the sentence, Possibly, Sharon will postpone her trip. There are three possible placements of the adverb, posiblemente, and they are all correct: Before the verb:  Ã¢â‚¬â€¹Sharon  posiblemente  retrasarà ¡ su viaje.After the verb:  Sharon retrasarà ¡Ã‚  posiblemente  su  viaje.At the beginning of the sentence:  Posiblemente, Sharon retrasarà ¡ su viaje.   Key Takeaways Spanish adverbs are placed close, and usually next to, the words they modify.Descriptive Spanish adverbs usually come after the verbs they modify but before adjectives they modify.When an adverb modifies the meaning of the entire sentence, its placement is flexible.

Human Consciousness Essay - 1789 Words

Human Consciousness Erich Fromm and Shirley Jackson have both written wonderful true-life affecting essays and should be awarded for them. I appreciate both stories and feel they both set tales to learn from and live by. As a combined theme for both I ‘ld say â€Å"human consciousness is more then a gift†. And read on to see what I mean. In Erich Fromm we notice a compassionate concern for the unfolding of life. Fromm claims that the growing process of the emergence of the individual from his original ties, a process which we may call ‘individuation,’ seems to have reached its peak in modern history in the centuries between the Reformation and the present. Of course, the beginning of change is not the cause of all our problems but it†¦show more content†¦Being set in your own way doesnt necessary have to be bad? Just imagine, if the tradition was something more positive that promote life rather than destroy it. Traditions, rituals are made from rules established. The rules could be rules of a home, a city, county, state or nation. Then again imagination can do wonders and living life is just part of nature. And that’s where Fromm brings our attention to â€Å"living life†. He states that although the animals are living within nature, they at the same time going above it and are con scious of themselves. Which I think is very true. Setting themselves over against nature they have lost their unity and feel unbearably alone, lost, and powerless. This same process can be seen in the development of individual human beings. Each of us initially feels at one with our environment, but then becomes gradually more aware of our individuality. Fromm determines, therefore, that on the one side of the growing process of individuation is the growth of self-strength, but on the other side of this process is a growing aloneness. Then again with Jackson’s story one has to gaze from a distance. 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Explain Why It Is Impossible to Derive An Analytic Essay Example For Students

Explain Why It Is Impossible to Derive An Analytic Essay al Formula For Valuing AmericanPuts. Explain why it has proved impossible to derive an analytical formula for valuingAmerican Puts, and outline the main techniques that are used to produceapproximate valuations for such securitiesInvesting in stock options is a way used by investors to hedge against risk. Itis simply because all the investors could lose if the option is not exercisedbefore the expiration rate is just the option price (that is the premium) thathe or she has paid earlier. Call options give the investor the right to buy theunderlying stock at the exercise price, X; while the put options give theinvestor the right to sell the underlying security at X. However only Americaoptions can be exercised at any time during the life of the option if the holdersees fit while European options can only be exercised at the expiration rate,and this is the reason why American put options are normally valued higher thanEuropean options. Nonetheless it has been proved by academics that it isimpossible to derive an analytical formula for valuing American put options andthe reason why will be discussed in this paper as well as some main suggestedtechniques that are used to value them. According to Hull, exercising an American put option on a non-dividend-payingstock early if it is sufficiently deeply in the money can be an optimal practice. For example, suppose that the strike price of an American option is $20 and thestock price is virtually zero. By exercising early at this point of time, aninvestor makes an immediate gain of $20. On the contrary, if the investor waits,he might not be able to get as much as $20 gain since negative stock prices areimpossible. Therefore it implies that if the share price was zero, the putwould have reached its highest possible value so the investor should exercisethe option early at this point of time. Additionally, in general, the early exerices of a put option becomes moreattractive as S, the stock price, decreases; as r, the risk-free interest rate,increases; and as , the volatility, decreases. Since the value of a put isalways positive as the worst can happen to it is that it expires worthless sothis can be expressed as where X is the strike price Therefore for an American putwith price P, , must always hold since the investor can execute immediateexercise any time prior to the expiry date. As shown in Figure 1,Here provided that r 0, exercising an American put immediately always seems tobe optimal when the stock price is sufficiently low which means that the valueof the option is X S. The graph representing the value of the put thereforemerges into the puts intrinsic value, X S, for a sufficiently small value ofS which is shown as point A in the graph. When volatility and time toexpiration increase, the value of the put moves in the direction indicated bythe arrows. In other words, according to Cox and Rubinstein, there must always be somecritical value, S`(z), for every time instant z between time t and time T, atwhich the investor will exercise the put option if that critical value, S(z),falls to or below this value (this is when the investor thinks it is the optimaldecision to follow). More importantly, this critical value, S`(z) will dependon the time left to expiry which therefore also implies that S`(z) is actually afunction of the time to expiry. This function is referred to, according toWalker, as the Optimum Exercise Boundary (OEB). .u8fb39267f2737d903ed0255e8e278e4f , .u8fb39267f2737d903ed0255e8e278e4f .postImageUrl , .u8fb39267f2737d903ed0255e8e278e4f .centered-text-area { min-height: 80px; position: relative; } .u8fb39267f2737d903ed0255e8e278e4f , .u8fb39267f2737d903ed0255e8e278e4f:hover , .u8fb39267f2737d903ed0255e8e278e4f:visited , .u8fb39267f2737d903ed0255e8e278e4f:active { border:0!important; } .u8fb39267f2737d903ed0255e8e278e4f .clearfix:after { content: ""; display: table; clear: both; } .u8fb39267f2737d903ed0255e8e278e4f { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .u8fb39267f2737d903ed0255e8e278e4f:active , .u8fb39267f2737d903ed0255e8e278e4f:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .u8fb39267f2737d903ed0255e8e278e4f .centered-text-area { width: 100%; position: relative ; } .u8fb39267f2737d903ed0255e8e278e4f .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .u8fb39267f2737d903ed0255e8e278e4f .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .u8fb39267f2737d903ed0255e8e278e4f .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .u8fb39267f2737d903ed0255e8e278e4f:hover .ctaButton { background-color: #34495E!important; } .u8fb39267f2737d903ed0255e8e278e4f .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .u8fb39267f2737d903ed0255e8e278e4f .u8fb39267f2737d903ed0255e8e278e4f-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .u8fb39267f2737d903ed0255e8e278e4f:after { content: ""; display: block; clear: both; } READ: George Orwell Research EssayHowever in order to be able to value an American put option, we need to solvefor the put valuation foundation and then optimum exercise boundary at the sametime. Yet up to now, no one has managed to produce an analytical solution tothis problem so we have to depend on numerical solutions and some techniqueswhich are considered to be good enough for all practical purposes. (Walker,1996)There are basically three main techniques in use for American put optionvaluations, which are known as the Binomial Trees, Finite Difference Methods,and the Analytical Approximations in Option Pricing. These three techniqueswill be discussed in turns as follows. Cox et al claim that a more realistic model for option valuation is one thatassumes stock price movements are composed of a large number of small binomialmovements, which is the so-called Binomial Trees (Hull, p343, 3rd Ed). Binomial trees assume that in each short interval of time, , over the life ofthe option a stock price either moves up from its initial value of S to , ormoves down to . In general, ; 1 and ; 1. The probability of an up movementwill be denoted by thus, the probability for a down movement is . The basicmodel of this simple binomial tree is shown in Figure 2. Furthermore, the risk-neutral valuation principle is also in use when using a binomial tree, whichstates that any security dependent on a stock price can be valued on theassumption that the world is risk neutral. Therefore the risk-free interest rateis the expected return from all traded securities and future cash flows can bevalued by discounting their expected values at the risk-free interest rate. Theparameters p, u, and d must give correct values for the mean and variance ofstock price changes during a time interval of length . By using the binomial tree, options are evaluated by starting at the end of thetree (that is time T) and working backward. The value of the option is known attime T. As a risk-neutral world is being assumed, the value at each node at timeT can be calculated as the expected value at time T discounted at rate r for atime period . Similarly the value at each node at time T can be calculated asthe expected value at time T discounted for a time period at rate r, and so on. When we are dealing with American options, it is necessary to check at eachnode to see if early exercise is optimal rather than holding the option for alonger while. Therefore by working the binomial backward through all the nodes,the value of the option at time zero is obtained. For example, consider a five-month American put option on a non-dividend-payingstock when the stock price is $50, the strike price is $50, the risk-freeinterest rate is 10% per annum, and the volatility is 40% per annum. With ourusual notation, this means that S = 50, X = 50, r = 0.10, = 0.40, and T = 0.4167. Suppose that we break the life of the option into five intervals of length onemonth (= 0.0833 year) for the purposes of constructing a binomial tree. Then =0.0833 and using the formulas,The top value in the tree diagram above shows the stock price at the node whilethe lower one shows the value of the option at the node. The probability of anup movement is always 0.5076; the probability of a down movement is always0.4924. Here the stock price at the jth node (j = 0, 1, , i) at time is calculated as. Also the option prices at the penultimate nodes are calculated from theoption prices at the first final nodes. First we assume no exercise of theoption at the nodes. This means that the option price is calculated as thepresent value of expected option price in time . For example at node E theoption price is calculated as while at node A it is calculated asThen it is possible to check if early exercise of the option isworthwhile. At node E, the option has a value of zero as both the stock priceand strike price are $50. Thus it is best to wait and the correct value at nodeE is $2.66. Yet the option should be exercised at node A if it is reachedbecause the option would be worth $50.00 $39.69 or $10.31, which is obviouslyhigher than $9.90. Options in earlier nodes are calculated in a similar way. .u48a6e2f413b325582bef2fadab37c777 , .u48a6e2f413b325582bef2fadab37c777 .postImageUrl , .u48a6e2f413b325582bef2fadab37c777 .centered-text-area { min-height: 80px; position: relative; } .u48a6e2f413b325582bef2fadab37c777 , .u48a6e2f413b325582bef2fadab37c777:hover , .u48a6e2f413b325582bef2fadab37c777:visited , .u48a6e2f413b325582bef2fadab37c777:active { border:0!important; } .u48a6e2f413b325582bef2fadab37c777 .clearfix:after { content: ""; display: table; clear: both; } .u48a6e2f413b325582bef2fadab37c777 { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .u48a6e2f413b325582bef2fadab37c777:active , .u48a6e2f413b325582bef2fadab37c777:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .u48a6e2f413b325582bef2fadab37c777 .centered-text-area { width: 100%; position: relative ; } .u48a6e2f413b325582bef2fadab37c777 .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .u48a6e2f413b325582bef2fadab37c777 .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .u48a6e2f413b325582bef2fadab37c777 .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .u48a6e2f413b325582bef2fadab37c777:hover .ctaButton { background-color: #34495E!important; } .u48a6e2f413b325582bef2fadab37c777 .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .u48a6e2f413b325582bef2fadab37c777 .u48a6e2f413b325582bef2fadab37c777-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .u48a6e2f413b325582bef2fadab37c777:after { content: ""; display: block; clear: both; } READ: Contrast Of Romeo And Juliet An West Side Story EssayAs we keep on calculating backward, we find the value of the option at theinitial node to be $4.48, which is the numerical estimate for the optionscurrent value. However in practice, a smaller value of would be used by whichthe true value of the option would be $4.29. (Hull, p347, 3rd Ed)The second technique that is commonly used is the so-called Finite DifferenceMethods. These methods value a derivative by solving the differential equationthat the derivative satisfies. The differential equation is converted into aset of difference equations and the difference equations are solved repeatedly. For instance, in order to value an American put option on a non-dividend-payingstock by using this method, the differential equation that the option mustsatisfy isThe Finite Difference Methods are similar to tree approaches inthat the computations work back from the end of the life of the derivative tothe beginning. There are two different methods involved; one is called theExplicit Finite Difference Method and the other is the Implicit FiniteDifference Method. The former is functionally the same as using a trinomialtree. The latter is more complicated but has the advantage that the user doesnot have to take any special precautions to ensure convergence. The maindrawback of these methods is they cannot easily be used in situations where thepay-off from a derivative depends on the past history of the underlying variable. Finally there is also an alternative to the numerical procedures which is knownas a number of analytic approximations to the valuation of American options. The best known of these is a quadratic approximation approach proposed byMacMillan and then extended by Barone-Adesi and Whalley. This method involvesestimating the difference, v, between the European option price and the Americanoption price since v must satisfy the differential equation for both. They thenshow that when an approximation is made, the differential equation can be solvedusing standard methods. The techniques mentioned in this paper are those commonly used in practise. Although they are not perfect, they are still considered good enough forpractical purposes. So far no one has managed to create a direct analyticalvaluation method for valuing American put options. Category: Business

Issue Pertinent To Patient Protection and Affordable Care Act (PPACA)

Question : For this assignment, you will select a topic (see list below for possible topics) and identify an existing federal health policy problem in that area. Then develop a paper that addresses the following: Analyze the role of research information in reshaping that policy Propose changes/improvements in the existing public law dealing with that policy, or propose a new policy. A good starting point is to analyze a current issue pertinent to Patient Protection and Affordable Care Act (PPACA). Possible topics include the following: Long-term care Healthcare costs Access to care Quality of care Obesity epidemics / pandemics Health insurance Your well-written paper should be twelve pages in length and conform toCSU-Global Guide to Writing and APA Requirements. Include five to eight current scholarly references (not more than five years old) in addition to the course textbook. Remember that you must support your thinking/opinions and prior knowledge with references; all facts must be supported; in-text references used throughout the assignment must be included in an APA-formatted reference list. You should also consider additional reference articles from the popular press such as theWall Street JournalandWashington Post. The CSU-Global Library is a good place to find these references. Before developing your paper, review the grading rubric. Answer : Introduction On March 23, 2010, the U.S. President Barack Obama signed the first US comprehensive health care reform bill, the PPACA (Patient Protection and Affordable Care Act) into law after repeated attempts and failures by the previous Presidents of the United States of America. In 2008, an estimated 46.3 million US individuals were uninsured and a further 25 million were underinsured (Connors and Gostin, 2010). The PPACA was proposed to expand health insurance coverage to more individuals through a variety of schemes and measures. According to the act, state-level health insurance exchanges were to be created under the PPACA and they were to play a major role in sale and purchase of health insurance when the act became operational. The purpose of this report is to focus on the health insurance coverage issues pertinent to the Patient Protection and Affordable Care Act (PPACA). And further examines how the issues can be addressed effectively by the PPACA. Features of the PPACA To make insurance affordable to people of all statures, PPACA offers sliding-scale subsidies and limits out of the pocket spending. And to increase the number of increased individuals, the premium rates were lowered and it was proposed that individuals without insurance coverage will pay a penalty of 695 USD or 2.5% of household income. One of the important features of the PPACA was to expand Medicaid to individuals with comes of up to 133% of the Federal poverty level and thus covering low income adults without children who were previously not eligible for coverage by Medicaid. This offers standardized benefits of Medicaid and a minimum package of essential services (Connors and Gostin, 2010). Another important feature was the plan to establish state-level health insurance exchanges. American Health Benefit Exchanges and Small Business Health Operations Program (SHOP) Exchanges were to be formed in all states and would act as market places for consumers to shop for and purchase health insurance at affordable rates. These exchanges would provide the consumer with the necessary details, and private health insurance choices. Low-income US citizens who are not eligible for coverage under Medicaid were offered private health insurance benefits through these exchanges by providing with subsidies and credits for premiums. For small businesses with fewer than hundred employees, tax credits were provided for offering insurance. The PPACA prohibits the insurers from limiting or denying insurance coverage to children under nineteen with pre-existing medical conditions and allows young adults under the age of twenty six to remain covered under their parents health plan. It ends insurers ability to withdraw coverage due to an honest mistake made on part of the insured, restricts annual limits and eliminates life time amount that insurance will pay for certain conditions. The PPACA offers a rebate of 250 USD to Medicare part D enrolees efficiently closing the coverage gap in Medicare part D. Issues pertinent to the PPACA The state-level health insurance exchanges play the central role in the private health insurance reform of the Patient Protection and Affordable Care Act (PPACA). The functioning of these exchanges as planned is mandatory for expanding health insurance coverage in the US, improve the quality of coverage and health care in the nation and reduce the cost of health care. But there are some issues that the Federal and state governments face in implementing these health insurance exchanges. The Commonwealth Fund, in its report has mentioned eight issues in implementing these exchanges that include: the proper governance of the exchanges, adverse selection (against and within the exchanges), ways to make self-funded insurance plans compatible with the exchanges, ways to make the exchanges attractive to employers, exercising of regulatory authority by exchanges, type of information made available to consumers and employers by these exchanges, ways to determine eligibility, ways to reduce th e administrative costs, costs of their uses and attract funding (Jost, 2010). Governance of the exchanges The exchanges in each state could be outsourced to a private agency under the PPACA for some of its functions such as managing the website, processing enrolments and premium payments while certification activities are inherent government functions. Any publicly run exchange is subject to the state administrative and operational laws but it is important that the health insurance exchanges be flexible and agile to react quickly to market change concerned with insurance. So the state administrative and operational laws can be made flexible with respect to these exchanges. But again it is important that public law pertaining to ensure transparency, public participation and to avoid corruption must apply so that the management is apolitical and professional. Exchanges can also outsource mechanical, non-discretionary functions such as premium billing, premium collections, data processing and customer services to private agencies. Avoiding adverse selection It is important to avoid adverse selection both against and within the exchanges. It is one of the greatest issues the exchanges face. State regulation of an individual as well as small-business market outside of these exchanges should also be identical to the corresponding regulation inside the exchanges to an extent. It is necessary to retain a range of coverage choice within the exchange that would appeal to variety of population. By this way, it is possible to eliminate the coverage market outside of the state-level exchanges. An efficient risk adjustment system to eliminate adverse selection within and against the exchange among participating insurers and non-participating insurers must be designed by the HHS (Baker, 2011). Ways to make the Exchanges work for employers In addition to focussing on serving the needs of individual customers, it is also important that these exchanges take care of the relationship between the insurers, the employers and the employees. It is mandatory for the exchanges to make available qualified health plans for the employers qualified for coverage. In a provision called the SHOP (Small Business Health Option Program) exchange, it is required small employers be assisted in enrolling their employees for health plans offered in the small business market. And to overcome adverse selection issues, the exchanges in the state have to have a maximum number of enrolees which is possible only if they enrol both individual customers as well as employees of small business employers. This is possible only when the packages are made attractive to the employers and actively marketed. Possible recommendations include offer of aggregated bill to small business employers when they enrol their employees. The aggregated bill must cover the premiums of all the employees of the firm. Or allow the employers to pay a percentage of the premium required with the employee paying the rest. Lower-income employees can be offered greater support by their employers. Regulatory Authority of the Exchanges The PPACA permits the exchanges to offer only qualified health insurance plans. And it is mandatory that these plans meet all the regulatory requirements on the health insurance issuers imposed by the PPACA both in the individual market as well the small group market. It must also meet certain additional requirements such as accreditation, marketing, adequacy and quality improvement (Rosenbaum, 2011). And certification of a health plan is possible only if the plan determines that the particular plan through the exchange is in best interests of the qualified individuals or small business employers in that particular state. And according to the act, the exchanges have no rights to deny certifying a plan because it is fee for service kind of plan and they have no right to impose price controls. The state-level exchanges can make use of their certifying power to make sure that the health plans offered meet all the statutory requirements for qualifying and that they do not impose unrequited premium increase on their customers. The state exchanges should be given the option of being an active purchaser by the legislation authorizing them and must not impose all insurers in the market on them. Type of information made available to the consumers The clear description of the benefits and limitations of any particular health insurance plan must be made readily available and accessible easily. The opinions of the participating members must be taken into account and come up with plans that are satisfying to those who have serious health or financial problems. The opinions of the employers must be valued too. Eligibility determinations Under the PPACA, the Medicaid eligibility expands dramatically (Hofer, Abraham, Moscovice, 2011). The consumers, be it individuals or families that approach the exchanges usually need financial assistance in purchasing health plans. Medicaid assistance is available for those with an income level of up to 133% of Federal poverty level. Children with pre-existing medical conditions up to the age of 19 in general and in some states up to 21 are covered under CHIP (Childrens Health Insurance Program). Children are eligible under CHIP if their families have income level of 200% of the poverty level and more in some states. Sometimes parents receive premium tax credits while the children are covered under Medicaid or CHIP for income of 400% of poverty level. It is mandatory that the subsidy determination process doesnt stand in the way of those who are unsubsidized. The insurers market outside of the exchange will continue to be available for those who are not entitled to the subsidy. These individuals must be given a fair chance and choices to completely fore go the subsidy application process or if they choose to apply with the exchange then they shouldnt be put through too much screening so that they do not face any impediments. It is the responsibility of the exchange to take care of the continued enrolment of individuals for health plans and tax credits. Administrative costs One of the prime purposes and hopes of advocates in relation to the PPACA is that establishment of health insurance exchanges would reduce the cost of health care spending and health insurance. But in the long run, especially during recession and after the global economic crisis and when the rates are in excess of the rate of growth of the economy, this kind of cost reductions is not sustainable. In order to succeed the exchanges should be able to offer competitive health insurance plans. That is, plans offered by the exchanges must provide as much value for money as the insurance plans available in outside in the non-exchange market. The plans are all qualified health plans and thus of very high quality but the key factor that determines whether or not an individual takes up the plan offered by them is the premium that is required to be paid (Jost, 2010). And these exchanges will have an important role in creating, managing and rating the plans. Also they have regulatory responsibil ities that will require resources. Administrative costs can also be kept nominal in addition to providing high quality services. This can be done by motivating insurers to offer premium rates in the exchange lower than those available outside by providing the insurers with large exchange market enough for others to cut down on their premiums. Further, exchanges could perform functions such as enrolling participants, subsidy application and determination process, web portal management, premium collection and marketing further reducing the administrative costs. Another cost saving measure that exchanges can do is to try to eliminate insurance agents and brokers commissions. The exchanges must be attractive to the employers. This can be done by coordinating care using quality improvement strategies, reducing the use of unnecessary care and thus reducing the costs. Other issues The PPACA embodies a new social contract of health care, with the government as the insurer for the people below poverty line and the elderly through markets, individual responsibility, choices and private ownership. It embodies a fair share approach to health care financing (Baker, 2011). In case of Affordable Care Act, the deserving poor concept was eliminated from the Medicaid standards. Ones ability to pay for health insurance will now matter more than it did before. In the face of rising health care costs and increasing financial inequality this was an incremental step. It point towards individuals to be as healthy as they can as envisioned by what the act mentions as individual responsibility. It is important that the exchanges maintain maximum number of enrolees and have an increased percentage of consumers participating in health insurance plans through them rather than through external agencies. This will result in the exchanges holding greater market power, greater economies of scale, lessened risk pools and increased stability. The PPACAs health care exchanges offer the consumers structures choices of health care plans. An important decision would be to consider their views and decide upon whether to further the existing structured choices or offer greater flexibility in the plans. In the PPACA, the patient reforms bill passed by US will moderate the effect that unemployment rate has on the probability of insurance coverage (Cawley, Moriya, Simon, 2013). The Act has incentives that employers can offer employees; it provides subsidies for coverage of families with low income. There may be a slight increase in the unemployment rate though not very significant changes. The PPACA must clarify to what extent it pre-empts in general the state reform initiatives and in particular the employer mandates. Otherwise, the already impenetrable ERISA pre-emption would have been made more complicated the Congresss PPACA (Chirba, 2010). There are three dominant conceptions of health insurance. The first is that health insurance primarily serves to tackle harms to health making health insurance a means to pay for health care that prevents and improves health problems most cost effectively. The second is financial security where in health insurance is something that is used to mitigate loss of wealth from high health care costs. Finally, being highly sensitive to the possibility of adverse effects and using health insurance as something to primarily protect against unavoidable or sudden health risks. This, known as the Brute Luck theory seeks to preserve incentives by the individuals to prevent risk. The premium pricing is based on guidelines from these theories. This Conceptual pluralism (Hoffman, 2011) is manifested by the Patient Protection and Affordable Care Act and it complicates the implementation of the act as it requires the regulators to manage tensions and make trade-offs among the goals. When translated in to policies, the three theories will at times conflict each other creating discordance. People in the US are generally ambivalent about their views on the reform bill. This can be greatly attributed to the complexity of the law. Very few people including physicians truly understand the true purpose of the law. Another reason may be that people identify with the three conceptual insurance policies and while they support one concept they are not very much in favour of the others. But eliminating this conceptual pluralism isnt advisable either because it would make the theory not likeable to those in favour of the neglected conception. The best regulatory method would be to prioritize which conceptions are to be used but not necessarily stick to just one and eliminate the others. The phrase in the law stipulating subsidies to help those with incomes less than 400 percent of poverty line is available only in the exchanges established by the state came into a controversy quite recently. It was argued that the rest of the act states that subsidies would be available for both state run and Federal run exchanges. Since most of the states opted let the federal government run their agencies, this phrase could mean making insurance unaffordable for millions of people and threaten the laws viability in the entire act. There are four pending cases in the Supreme Court pertaining to the IRS rule in Patient Protection and Affordable care Act authorizing tax credits and cost-sharing subsidies to purchase health insurance in federal-level health insurance exchanges (The Washington Post). Conclusion Affording everyone the right to quality health care irrespective of income or health status is a definitely an excellent idea. It should become a widely shared social norm, as it is in a lot of other countries. The implementers of the Affordable Care Act have great power to shape the future of health insurance and medical care in US. Attention on choices needed to curtail increasing costs, improving the quality, and changing of physician and hospital incentive structures are crucial aspects of the reform bill that will have to be carefully governed to have powerful effects on the economy and the populations health and these cannot be ignored by US government. References Connors, E., and Gostin, L. (2010). Health Care ReformA Historic Moment in US Social Policy.JAMA,303(24), 2521. doi:10.1001/jama.2010.856 Jost, T. (2010). Health Insurance Exchanges and the Affordable Act: Eight Difficult Issues. The Commonwealth Fund. Rosenbaum, S. (2011). The Patient protection and Affordable Care Act: Implications for Public Health Policy and Practice. Public Health Rep, 126(1). Hofer, A., Abraham, J., Moscovice, I. (2011). Expansion of Coverage under the Patient Protection and Affordable Care Act and Primary Care Utilization.Milbank Quarterly,89(1), 69-89. doi:10.1111/j.1468-0009.2011.00620.x Baker, T. (2011). Health Insurance, Risk, and Responsibility after the Patient Care and Protection Act. University of Pennsylvania Law Review, 159(6). Cawley, J., Moriya, A., Simon, K. (2013). The Impact of the Macro economy on Health Insurance Coverage: Evidence from the Great Recession.Health Econ.,24(2), 206-223. doi:10.1002/hec.3011 Hoffman, A. (2011). Three Models of Health Insurance: The Conceptual Pluralism of the Patient Protection and Affordable Care Act. University of Pennsylvania Law Review, Barnett, R. (2011). Turning Citizens into Subjects: Why the Health Insurance Mandate is Unconstitutional. Mercer Law Review, 62. Chirba, M. (2010). ERISA Pre-emption of State Play or Pay Mandates: How PPACA Clouds an Already Confusing Picture. Journal of Health Care Law Policy, 13, 393-421.

Strategic Analysis Nike Essay Example

Strategic Analysis Nike Paper Nike: Strategic Analysis Nike’s Global Business Strategy When first founded in 1962 under the name of Blue Ribbon Sports, the strategy was â€Å"to distribute low-cost, high-quality Japanese athletic shoes to American consumers in an attempt to break Germany’s domination of the domestic industry. † Today Nike offers athletic shoes at every marketable price point to a global market. Nike sustains its leading position through emphasizing quality products, constant innovation, and aggressive marketing. Nike sells its products in more than 180 countries under not only its namesake brand but brands such as Cole Haan, Converse, Hurley International, and Umbro Inc. It uses distribution channels such as company-owned stores and websites or sports retailers, such as Foot Locker. As mentioned earlier, Nike is a truly global company, which means that its success story is transferrable over borders. It divides its sales into four main regions- the US, Europe, Middle East and Africa (EMEA), Asia Pacific, and Central and South America. For 2009 each of these regions accounted respectively for 34. 1%, 28. 7%, 17. 3%, and 6. 7% of total revenue. Segmentation Strategy: Nike realizes that in order to be number one they need to offer a wide range of products to be able to develop a culture and fulfill their loyal customers’ needs. Nike’s strategy in terms of segmentation is excellent. Their core product is footwear but they also manufacture apparel and equipment and thus, they spread their influence in other sport-related markets. Nike also has several sub-brands to grasp different consumer groups. We will write a custom essay sample on Strategic Analysis Nike specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Strategic Analysis Nike specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Strategic Analysis Nike specifically for you FOR ONLY $16.38 $13.9/page Hire Writer Nike’s main source of revenue is athletic footwear, which is also its core competency. It accounts for 54% of total revenues. It is designated for running, cross-training, basketball, soccer and it includes even a casual footwear line. Sales in this segment increased by 14% in 2009 from which a big portion was a result of the increase in sales in the Asia Pacific region. The second most profitable segment for Nike is apparel, such as t-shirts, shorts, sweatpants, and licensed apparel made specifically for universities with their own logos. With an increase of only 0. 2%, apparel sales accounted for 27% of the company’s revenue in 2009. However, sales in this segment grew by 14% in the previous period, between 2007 and 2008, due to the growth of 25% of revenues in emerging markets, such as Russia, and other EMEA countries but also a substantial revenue growth of 50% in China. Unlike footwear, which main market is the US, the majority of apparel sales come from the EMEA region accounting for 38% of total apparel revenue. Equipment, such as balls, golf clubs etc. ccounts for 6% of total revenues in 2009 and 13% come from other brands under Nike, such as Cole Haan, Converse, Umbro etc. these different sub-brands supplement Nike product lines. For instance, Umbro specializes in selling soccer apparel and footwear. Nike Golf targets golf players and offers specialized golf equipment, apparel and footwear. Cole Haan on the other hand offers premium dress and casual footwear. Hurley International offers products suitabl e for snowboarding, skating, and surfing. Marketing Strategy: Significant role for the competition of market share in the footwear industry plays marketing in order to strengthen the brand image, develop product identity and expand customer loyalty. Competition between players is non-price but rather based on differentiation in brand image and product innovations. Therefore, substantial investments in marketing campaigns are required. Nike invests annually between 11% and 13% of revenue in marketing. Advertising strategy: Nike’s strategy was to create dominant presence in media. Nike created media presence in several trend setting United States cities. TV ads linking Nike to a city were used, but real drivers were huge oversized billboards and murals on buildings that blanketed cities with messages featuring key Nike-sponsored athletes, not products. The company focuses its marketing on celebrity endorsement, i. e. athletes in basketball, golf, soccer, and tennis. Lately, Nike has also began to sponsor big sporting events so as to create huge awareness and brand following. In 2008, Nike spent significant amount on advertising in the Beijing 2008 Olympics and the Football Championship. After the recent Tiger Woods scandal Nike plans on revisiting it celebrity endorsement strategy. It can be noted that the ‘swoosh logo’ is one of the most famous in the world due to these huge advertising efforts. Branding Strategy: Nike’s strategy in this front is to develop a premium brand associated with high quality product that satisfies customer needs. Nike’s brand is associated with an aggressive attitude portrayed by, â€Å"you don’t win silver, you lose gold,† which clearly suggests that winning is vital. The Nike customer associated the Nike brand with being the ‘American’ way: Being individual and aggressive like Michael Jordan and John McEnroe. Nike built its brand around sports, attitude and lifestyle. Nike backed this strategy with marketing campaigns like â€Å"Just do it† and with the companies front athletes like Michael Jordan and Tiger Woods. Selling Strategy: Nike’s strategy in early 2000s was to develop, flag ship stores, NikeTown shops in bigger cities, first national, and then abroad. Nike was the first company to establish flagship stores and it turned out to be a sensation. There are independent small retail stores that sell Nike products all around the world as well. Also, on seeing the potential of the low price market, Nike took efforts in 2005 to tap in to the low price segment by striking a deal with big retail discount stores like Walmart and rolled out starter shoes at a cheaper price, competing with private label brands. However, to avoid brand dilution, Nike did not use the swoosh logo in these shoes. Currently, Nike has a high quality website and uses it as an online selling channel. NikeId , a part of the website allows a customer to customize his own shoes and buy it. The website is available in 14 languages and is different according to the country requirements. Manufacturing Strategy: Nike manufactures all of its footwear from outside United States. Nike has contract suppliers in China, Vietnam, Indonesia and Thailand. These countries accounted for 36%, 36%, 22% and 6% of total NIKE brand footwear respectively. Nike also has manufacturing agreements with independent factories in Argentina, Brazil, India, and Mexico to manufacture footwear for sale primarily within these countries. Primary reason for this is that it is cheaper to manufacture in South East Asia and transport it to USA and Europe, regardless of the transportation and tariff costs involved. Organizational Strategy: With over 21,000 employees worldwide, the company was organized into departments by both geographic divisions and product categories, which created overlapping management responsibilities and a fluid leadership structure. For example, a footwear manager in Europe answered to both the Vice President of Footwear and the Vice President of Europe. However, there was no formal communication link between the regional vice presidents (those in the United States, Europe, Asia-Pacific, and Latin America) and the product vice presidents (footwear, apparel, equipment). Human Resources Management Strategy: The sweat shop debacle in late 1990s has led Nike to form a distinctive strategy to provide a good working environment for employees. They have several internal guidelines and compliance standards apart from state laws for ensuring proper working conditions for all workers in its contracted supplier factories. Due to the magnitude of Nike and their number of stores and manufacturing plants throughout the world, Nike has taken the time to recognize the importance of each individual and what they can contribute to the team. For this reason, Nike does not call its employees, ‘employees’ but rather ‘team members’ because each part of the team has something to add to the business. They have also admitted that they have a very large array of workers and this brings many diverse cultures and points of views together. According to one of its statement, diversity and inclusion is a crucial factor in Nike’s diplomacy in their many locations and globally. In identifying the differences they have set apart the opportunities to better understand how their teams will work together and what adversity they may face because of this. In order to strive to reach this mission they have put into action these strategies: * Cultivate diversity and inclusion to develop world-class, high-performing teams * Ignite change and inspire critical conversations around diversity, inclusion and innovation * Create venues and environments for open dialogue, diverse opinions and a multitude of perspectives All of the above will in future venture apply and assist them in working more efficiently and having more satisfied employees for longer periods of time. Technology and Innovation strategy: Nike fields some of the best in class technological practices and has a few patents to its credit. Nike emphasizes on these and has developed a lot of new products with use of high technology and sophistication. An example of that is the microprocessor shoe to give great experience and comfort to the customer. However, Adidas is also working on high tech innovations to provide high quality shoes. Lately, Adidas and Nike have been doing entertainment based marketing campaign by forming alliances with technology/entertainment companies. Nike had an alliance with Apple to sell Nike shoes with Apple iPods while Adidas tied up with Microsoft to sell Adidas goods with Microsoft Xbox gaming systems. So far the success of these alliances is yet to be quantified. Manufacturing strategy: Nike follows a 100% outsourcing strategy. Most competitors follow the outsourcing strategy. Exceptions to this are New Balance and other smaller players. New Balance claims that 75% of its production is from the US and other small companies produce in the US as well.

The eNotes Blog Top Ten Summer Readings for2013

Top Ten Summer Readings for2013 Ahhhh, summer! Finally, some time for a bit of pleasure reading. Got a gift certificate youve been hanging on to? (Ha. Mine are gone minutes after they hit my hands.) Or maybe you are just overwhelmed with choices and dont want to waste precious free time on something that isnt so great. Well, we at want to help you get the most out of your summer reading Here are ten suggestions offered by my very well-read friends who occasionally hang up their tweed jackets and loosen their professorial buns (no, not hair).   Here you will find a combination of new and older works, both fiction and non-fiction, serious and comedic.   So pick a few and let us know what YOU think! 1.   Mad Women: The Other Side of Life on Madison Avenue by Jane Maas Are you a fan of AMCs Mad Men and Peggy and Joan in particular? Curious about what life was really like on Madison Avenue in the 60s? Then you will enjoy Maass exploration of life in the ad game in the 1960s and beyond . 2.   Confessions of an Ex-Girlfriend by Lynda Curnyn A good beach read by a first time novelist. A friend says it is the only romance novel Ive ever finished. Suddenly single when her aspiring screenwriter boyfriend takes off for a hot job in L.A., bridal magazine editor Emma Carter is forced to reassess her appearance, her job, and her prospects-and take action. A diverse cast of engaging, occasionally offbeat characters, the hilarious sayings attributed to them, and a fast-paced style facilitated by Emmas pithy sound-bite confessions add to the fun in a lively Manhattan-set story that, while not a true romance, leaves the heroine happily pursuing her dreams and involved in a satisfying romantic relationship. This work may appeal to those who enjoy Bridget Jones-type books and like their stories urban, trendy, and slightly ambiguous. Curnyn is a fiction editor and lives in New York. This is her first novel. Library Journal 3. The Worst Hard Time by Timothy Egan As a Steinbeck scholar, this has been on my own list for a long time, and I was pleased to see that several friends highly recommend it as well. Egens gripping true story of living through the Dust Bowl is also a National Book Award winner. 4.   Wash by Margaret Wrinkle This novel was recommended by one of my closest friends so I will be popping this into my shopping cart soon. It sounds fascinating. The Atlanta Journal Constitution calls Wash Amazing . . . Never has a fictionalized window into the relationship between slave and master opened onto such believable territory . . . Wash unfolds like a dreamy, impressionistic landscape . 5.   Who I Am  by Pete Townshend Rock n roll bios seem to make the list every year and this summer is no exception. If youve ever fantasized about pummeling a guitar to bits on stagethis is the book for you. Rock out by the pool and learn the story of a man who. wanted The Who to be called The Hair. loved The Everly Brothers, but not that drawling dope Elvis. wanted to be a sculptor, a journalist, a dancer and a graphic designer. became a musician, composer, librettist, fiction writer, literary editor, sailor. smashed his first guitar onstage, in 1964, by accident. heard the voice of God on a vibrating bed in rural Illinois.. Whats not to love? 6.   Shadow of the Wind by Carlos Ruiz Zafon Another recommendation from a good friend (I am going to be so broke by the time this list is done). Barcelona, 1945: A city slowly heals in the aftermath of the Spanish Civil War, and Daniel, an antiquarian book dealer’s son who mourns the loss of his mother, finds solace in a mysterious book entitled The Shadow of the Wind, by one Julin Carax. But when he sets out to find the author’s other works, he makes a shocking discovery: someone has been systematically destroying every copy of every book Carax has written. In fact, Daniel may have the last of Carax’s books in existence. Soon Daniel’s seemingly innocent quest opens a door into one of Barcelona’s darkest secretsan epic story of murder, madness, and doomed love. 7.   Chanel Bonfire: A Memoir by Wendy Lawless Another friend suggests this, saying:    Chanel Bonfire is brilliant. Its a memoir by the witty, sharp daughter of a beautiful 1970s jet setter. The social climbing Mom has mental illness and alcoholism. Its actually quite funny, in a black humour sense. Highly recommend it. 8.   Devil in the White City: Murder, Madness, and Magic at the Fair That Changed America by Erik Larson This friend says, Devil in the White City is a fascinating intertwining of two contemporaneous true events: a serial murderer operating in Chicago and the lead-up to, running, and aftermath of the Chicago Worlds Fair. Its heavy on history and architecture, but I really liked it. 9.   Defending Jacob by William Landay What is it about legal thrillers and summer? Lots of people love them and a very literate friend suggests this one, so on the list it goes. Award-winning author William Landay has written the consummate novel of an embattled family in crisis- a suspenseful, character-driven mystery that is also a spellbinding tale of guilt, betrayal, and the terrifying speed at which our lives can spin out of control. 10.   Tales of the South Pacific by James A. Michener Every man I have ever known loves Michener.   Published in 2011, this volume is a collection of tales is set against the background of the South Pacific, the endless ocean, the coral specks called islands, the coconut palms, the reefs, the lagoons, the jungles, and the full moon rising against the volcanoes. Sounds like the perfect summer mental escape!

How the World might change in the next 25 years Assignment

How the World might change in the next 25 years - Assignment Example Deforestation is increasing the global warming problem and is diminishing the capacity of earth to generate oxygen through its plants. The purpose of this paper is to discuss and predict how advances in the management of natural resources are going to change the reality of humanity by the year 2037. The two social problems correlated to natural resources that are going to be emphasized in this discussion are food and air. The changes that are going to occur will come from exploitation of existing technologies and the creation of new innovations. There are a lot of people suffering from hunger today. Approximately 13% of the world’s population suffers from hunger which represents about 925 million people (http://www.worldhunger.org/articles/Learn/world%20hunger%20facts%202002.htm). A lot of experts believe that the world’s current agricultural capacity has the ability to feed everyone on the planet, but hunger is still occurring. One of the problems with the spread of hunger is that certain regions such as Sub-Saharan Africa do not have the arable land and the basic infrastructure such as water and electricity to create food. In the future this constraint will be eliminated as new technologies will enable the planet to turn salt water into drinkable water. About 20 % of the world land is covered by the five major oceans (http://www.gdrc.org/oceans/world-oceans.htm). The second innovation that will revolutionized agriculture worldwide is the creation on synthetic terrain. This new form of land can be transported anywhere and by used to regenerate the soil in places that lack arable land such as Haiti. A second major problem that is going to be resolved is the elimination of deforestation. This will occur prior to 2037 due to the fact that the paper wood milling industry will seize to exist. The world will not longer accept humanity cutting down trees to create books, magazines, or any form of wood pulp paper. Luckily this transition