Enterprise Risk Management techniques within a business - Free Essay Example

Sample details Pages: 14 Words: 4192 Downloads: 3 Date added: 2017/06/26 Category Management Essay Type Analytical essay Did you like this example? Enterprise risk management (ERM) is a recent risk management technique where a portfolio of risks is managed in a holistic manner. ERM has inspired interests from various parties including corporate executives, regulators, and rating agencies. Under the ERM framework, corporations take on necessary risks to pursue their strategic objectives within their respective risk appetite. Don’t waste time! Our writers will create an original "Enterprise Risk Management techniques within a business" essay for you Create order The core of the ERM process is efficient risk integration. Inter-relations among risks and risk prioritization are highlighted in the risk integration process under ERM. Certain risk measures and aggregation methods are usually involved in its implementation. Effective risk reporting and communications in a well-designed organizational structure are also essential for the success of ERM. Being an evolving process, the ultimate goal of ERM is to move beyond the initial incentive of fulfilling compliance need to achieving real economic value. Note: * in the main text suggests possible cross-references to other entries in the encyclopedia. The same term which appears multiple times is only marked once. WHAT IS ERM? Definition Enterprise risk management (ERM) is a recent risk management technique practiced increasingly by large corporations in all industries throughout the world. It was listed as one of the twenty breakthrough ideas for 2004 in Harvard Business Review [1]. ERM reflects the change of mindset in risk management over the past decades. Business leaders realize that certain risks are inevitable in order to create value through operations and some risks are indeed precious opportunities if effectively exploited and managed. In pursuit of the above, a corporations risk management practice should be carried out in a holistic fashion, aligned with its strategic objectives. It flows from the recognition that a dollar spent on risk is a dollar cost to the firm regardless of whether this risk arises in the finance arena or in the context of a physical calamity such as a fire. ERM proposes that the firm address these risks in a unified manner. The prevailing definition of ERM adopted by most corporations is the one proposed by Committee of Sponsoring Organizations of the Treadway Commission (COSO) in their 2004 ERM framework [2]. It intended to establish key concepts, principles and techniques of ERM. In this framework, ERM is defined as a process, effected by an entitys board of directors, management and other personnel, applied in strategy setting and across the enterprise, designed to identify potential events that may affect the entity, and manage risk to be within its risk appetite, to provide reasonable assurance regarding the achievement of entity objectives. This definition highlights that ERM reaches to the highest level of the organizational structure and is directly related to the corporations business strategies. The concept of risk appetite is a crucial component of the definition. Risk appetite reflects the firms willingness and ability to take on risks in order to achieve the objective. Once it is establishe d, all subsequent risk management decisions will be made within the corporations risk appetite. Thus, the articulation of risk appetite greatly affects the robustness and success of an ERM process. Different themes of business objectives are applied to determine risk appetite. Among the most common ones are solvency concerns, ratings concerns, and earnings volatility concerns [3]. The themes directing the risk appetite process should be consistent with the corporations risk culture and overall strategies. Despite its wide acceptance, the COSO definition is not the only available definition. For example, Casualty Actuarial Society (CAS) offered an alternative definition in its 2003 overview of ERM. In CASs definition, ERM is the discipline by which an organization in any industry assesses, controls, exploits, finances, and monitors risks from all sources for the purpose of increasing the organizations short- and long-term value to its stakeholders. [4] There are indications that ERM definition is gradually becoming organization specific. Individual corporations may define ERM uniquely according to their own understanding and objectives. Ai (2006) suggested that creating a clear, firm-tailored definition is an important precursor to the firm implementing a successful ERM framework. In fact, a 2006 survey of US corporations identified that lack of an unambiguous understanding of ERM is the one obstacle preventing companies from putting ERM in place [5]. Current development of ERM As a rising management discipline, current development of ERM varies across industries and corporations. The insurance industry, financial institutions, and the energy industry are among the industry sectors where ERM has seen relatively advanced development in a broad range of corporations [6]. The enforcement of ERM in these industries was originally stimulated by regulatory requirements. Recently, more corporations in other industries, and even the public sector, are becoming aware of the potential value of ERM and risk managers are increasingly bringing it to top executives agendas. According to a 2006 survey of US corporations, over two thirds of the surveyed companies either have an ERM program in place or are seriously considering adopting one [5]. An earlier survey of Canadian companies obtained similar results. It found that over a third of the sample companies were practicing ERM in 2003 and an even larger portion of the sample companies were moving in that direction [7]. Different stages of ERM implementation have been identified. According to a 2005 survey conducted of Canadian and US organizations, ERM implementation can be broken down into three stages based on the level of development [8]. Stage one is ERM strategy development, where corporations define key concepts, make ERM policies and establish the risk management framework. The second stage is ERM strategy implementation. Corporations at this stage implement the established ERM framework in their overall strategies and operations. The third stage of ERM is monitoring and maintaining the system. At this stage, ERM sustainability is the main focus achieved by effective internal and/or external evaluations. Only a small number of corporations, mainly in insurance, financial and utility industries, are at this stage of ERM practice. It is worth noting that ERM is a continuous evolving process, by no means limited to the above identified three stages. As more in-depth understanding and techniques are developed, corporations will move upward to higher stages and more advanced stages are also likely to emerge. ERM IMPLEMENTATION Notwithstanding the attractiveness of ERM conceptually, corporations are often challenged to put it into effect. One of the main challenges in ERM implementation is to manage the totality of corporation risks as a portfolio rather than as individual silos as is traditionally done. Several specific aspects of ERM implementation together with present challenges are considered below. Determinants of ERM Although ERM is largely considered as the most advanced risk management concept and toolkit, it is carried out at different paces by corporations. Studies have examined corporate characteristics that appear to be determinants of ERM adoption. For example, Liebenberg and Hoyt (2003) [9] find that firms with greater financial leverage are more likely to appoint a Chief Risk Officer (CRO), to signal their adoption of ERM. In another study, factors including presence of CRO, board independence, Chief Executive Officer (CEO) and Chief Financial Officer (CFO) support for ERM, use of Big Four auditors, and entity size are found to be positively related to the stage of ERM adoption [6]. These factors reflect ERMs role in corporate governance. Launch and pursuit of the ERM process lead to better corporate governance, which is desired by both external and internal constituencies. Operationalization of ERM The core of the challenge lies in operationalizing ERM in practice. Integration of risks is not merely a procedure of stacking all risks together, but rather a procedure of fully recognizing the inter-relations among risks and prioritizing risks to create true economic value. Important components of this procedure include risk identification, risk measurement, risk aggregation, risk prioritization and risk communication. Risk identification The four major categories of risks considered under an ERM framework are hazard risk, financial risk, operational risk*, and strategic risk [4]. Hazard risk refers to physical risks whose financial consequences are traditionally mitigated by purchasing insurance policies. Examples of hazard risk include fire, theft, business interruption, liability claims, etc. Financial risk refers to those risks involving capital and financial market. Market risk (interest rate risk, commodity risk, foreign exchange risk) and credit risk (default risk) are among the most important financial risks. This type of risk is usually hedged by financial instruments, such as derivatives. Operational risk is a nascent risk category and has inspired increasing interest. Operational risk includes internal fraud, external fraud, employment practices and workplace safety, clients, products and business practices, damage to physical assets, business disruption and system failures, and execution, delivery and proc ess management [10]. The newly released Basel Capital Accord II [10] first drew attention to operational risk in the banking industry. The impact soon spreads to other industries and now operational risk is ranked as the most important risk domain by US corporation executives [5]. However, given the complex and dynamic nature of operational risk, there is no easy access to the solution. Its management requires sophisticated and innovative risk management techniques. Lastly, strategic risk is more directly related to the corporations overall strategies. It includes reputation risk, competition risk, regulatory risk, etc. The management of strategic risk does not fall automatically into standard categories of risk management techniques. Specific risks perceived by each corporation need to be identified and managed customarily. The identification of the above four categories of risks is not meant to suggest separate management of each category. Rather, under ERM, identification of individual risks should facilitate successive prioritization and aggregation of risks to best achieve business objectives within the corporations risk appetite. Moreover, not all risks likely to face the corporation fall into one of the above major categories. Any event that can potentially affect the corporations objectives is considered a risk under ERM. Therefore, proper objective identification is the prerequisite for risk identification. Business objectives can be described by certain key performance indicators (KPIs), usually financial measures such as return on equity (ROE), operating income, earnings per share (EPS) and others for specific industries, e.g. risk adjusted return on capital (RAROC) and risk based capital (RBC) for financial and insurance industries [4]. By means of these company performance measures, risks ar e recognized according to the strategic goals established for each company, which is the first step to implement a sound ERM process Risk aggregation and risk measures* A central step towards operationalizing ERM is risk integration. Holmer and Zenios (1995) [11] is among the earliest studies that shed light on value created by process integration/ holistic management. In their work, an approach that integrates different parts of the production process (designing, pricing, and manufacturing) was proposed to improve productivity of financial intermediaries. Although risk management was rarely involved in that work, the underlying rationale is essentially the same. One sensible way to unify and integrate different types of risks is to derive the total risk (loss) distribution. The process starts with individual risks, which, as random outcomes, are usually represented by certain distribution functions technically. An aggregated risk distribution for the entire corporation can be derived from these individual risk distributions. Some risk measure is then developed to reflect the risk level. The risk measure can be denoted in dollar terms, in the form of capital requirements. In essence, risk management and capital management are two sides of a coin under ERM as the aim here is to create optimal returns using available capital by bearing risks [12]. Aggregated risk distribution functions essentially contain two parts: the marginal distributions for individual risks and the inter-relations between the risks. Marginal distributions are found for each identified individual risk through parametric models, non-parametric models or stochastic simulations [13]. Parametric models fit data in certain pre-determined distribution functions. Nonparametric models rely on histogram or kernel density estimation of historical data. Stochastic simulations methods (Monte Carlo Markov Chain simulation) start by generating random numbers through repeated runs. Stochastic simulation methods have become more and more popular in both academia and practice. There are also multiple ways to capture the inter-relations among risks. A simple approach is through variance-covariance matrices. Correlations between different risks are either calculated based on historical data or conjectured by domain experts. Alternatively, structure simulation models can be employed to link possibly correlated risks to common factors [4]. For example, different types of market risks may be driven by the same macro-economic conditions. These macroeconomic conditions thus result in the interactions among market risks. Inter-relations among risks can be exploited to determine natural hedges and place early warnings on catastrophic events where different types of risks strike together, which may lead to real economic benefits created by ERM. At a slightly more sophisticated level, dependence structures can be modeled by using a copula. A copula is a flexible tool to capture the dependence structure among risks. Suppose we have two risks X and Y with distribution functions FX(x) and FY(y). Denote the joint distribution function by FX,Y(x,y). Then the copula is defined as (1) [14]. Thus, we can derive the joint distribution function from marginal distribution functions by using copula. Various types of copulas (for example, normal copula or student-t copula) can be employed together with different choice of marginal distributions to model dependency. Quantile-based measures are perhaps the most prevalent risk measures currently. This class of risk measures focus on the tail area of the distribution functions, i.e., those events occurring with low probabilities but are associated with large losses should they occur. These risk measures reflect an intention to protect shareholder value in time of default or insolvency. The well known Value-at-Risk (VaR)* measure is of this type. VaR is the maximum loss suffered at a given confidence level (e.g. 95%) over a certain period of time (e.g. 1 trading day). Mathematically, we define VaR at the ÃÆ'Ã… ½Ãƒâ€šÃ‚ ± confidence level as the ÃÆ'Ã… ½Ãƒâ€šÃ‚ ±-quantile of the loss distribution function F(X), or (2). Although VaR measures are extensively employed, especially in financial risk management, doubts have been raised on VARs ability to depict a complete risk picture as a valid risk measure [13]. One of the most important concerns is that VaR fails to satisfy the sub-additivity property desired by any coherent risk measure. A closely related alternative measure is proposed to make up for the possible shortcomings of VaR, namely, Expected Shortfall (or loosely, Tail-VaR). Expected Shortfall takes into account not only the probability of adverse events as VaR but also the average magnitude of these events. Mathematically,(3), where ÃÆ'Ã… ½Ãƒâ€šÃ‚ ± is the confidence level. Further considerations lead to other classes of risk measures. For example, the so-called spectral risk measures [16] incorporate a weighting function to describe different degrees of risk aversions on quantiles. In this sense, Expected Shortfall is seen as imperfect since it assigns equal weight () to the entire (1-ÃÆ'Ã… ½Ãƒâ€šÃ‚ ±) region (and a weight of zero outside the region), indicating risk neutrality rather than risk aversion in the region. Moreover, an important risk measure based on distorted distribution functions was developed by Wang (2000, 2002) [17] [18]. The distorted decumulative distribution functions S*(x) are produced by applying a function g (.) to the original loss decumulative distribution function S(x) (S(x)=1-F(x) (4)): S*(x) = g [S(x)] (5), where g is an increasing function with g(0)=0 and g(1)=1. Wang (2000, 2002) [17] [18] suggest specific choices of distortion function g(.): (6) and (7), where is the standard normal distribution function, Q is the stude nt-t distribution function, and is the market price of risk parameter. These are known as Wangs one factor and two factor transform. A coherent risk measure can then be developed by taking expectation against the distorted distribution function. Rather than the focus solely on the tails, as quantile-based risk measures do, sometimes risk measures are designed to account for other parts of the distribution functions. Measures based on standard deviations (variance) belong to this class. In constructing these measures, an on-going concern rather than a solvency concern is often the primary focus [4]. In practice, simplified approaches are sometimes adopted to obtain the aggregated risk measure rather than relying on the total loss distribution and develop the risk measure as described above. For example, one can derive the portfolio VaR as a weighted sum of VaR for each component risk which implies perfect correlation between risks. Or sometimes, multivariate normality is assumed for the individual risk components and a VaR measure is obtained accordingly. However, these simplified measures should be used with caution since they may lead to biased total risk estimation [14]. Risk prioritization To realize risk integration, ERM also advocates risk prioritization. Risk prioritization stems from the fact that risks are not equally important to corporations. Prioritization should reflect different aspects of the companys strategies and risk management philosophy, e.g., cost to handle that risk, contract restrictions on that risk, managements risk preference, etc. A two dimensional risk map is often used (See Figure 1) in ranking the risks. The vertical axis represents impact of the underlying risks (the severity of losses) and the horizontal axis represents likelihood of the underlying risks (the frequency of losses). Different alert levels and risk management strategies are placed on each quarter panel. The low likelihood, low impact area usually needs minimum alarm, the high likelihood, low impact area should be dealt with accordingly by the risk management team, the low likelihood, high impact area requires for high attention and the high likelihood, high impact area can be disastrous to the corporation and thus demands full alert and tight control [19]. According to the ranking suggested by the risk map, corporations may want to prioritize those risks with high impact, as they are the kind of risks that may bring down the entire corporation once incurred. Risk management activities should then be executed according to priority and characteristics of risks. (Figure 1 insert about here) Alternatively, risks can also be ranked and prioritized based on their respective impacts on KPIs [4]. As we explained above, KPIs describe corporations strategic targets. The ultimate aim of ERM is to assist corporations in achieving these strategic targets by managing risks in the most effective way. Thus, risks that have higher potential influence on KPIs (or other chosen measures of objectives) should be prioritized and treated with focus. Risk reporting and risk communications* Despite the extensive attention given to the technical aspects, ERM is not just about tons of numbers and stacks of risk reports. A key factor for success is effective risk communication from the board and executive management to operational units and across different business departments of corporations. One way to improve risk communication is through a well-designed risk reporting system [20]. The risk reporting system should both provide succinct summaries of critical risk information covering the broad range of corporate risks for board members and executives, and allow access to more detailed information for those responsible for specific risks at the operational level. Moreover, both qualitative and quantitative analysis should be incorporated into this single system. ERM softwares are developed for this purpose. For example, an ERM dashboard, an interface providing role-based information to key decision makers is recommended for risk reporting [20]. Risk registers are also us ed widely for risk reporting and management. Risk registers record relevant information including risks, risk assessments, impact on KPIs, risk management tools and responsible personnel, to keep track of the risk management activities and allow interactions among different parties [19]. There are other commercial ERM softwares in development for use of general or particular corporations. ERM AND COMPLIANCE* ERM at first arises from corporations continuous efforts for compliance with laws and regulations. To this end, ERM is seen more as an efficient internal control process. Within a corporation, it is often conducted with internal control function and supervised by internal auditors. The most significant regulatory forces responsible for the prosperity of ERM are the Sarbanes Oxley Act of 2002, Basel Capital Accord II and rating criteria set forth by Standard Poors. Sarbanes Oxley Act of 2002 In the US, the Sarbanes Oxley Act of 2002 [21] greatly raised compliance difficulty for corporations. Section 404 of the act rules the corporations internal control activities over financial reporting and disclosure to the public. External auditors are also involved through assessing and attesting corporations internal control effects. Corporations have invested great amount of time and money to comply with the act. In this process, they turn to ERM as a solution to adequate and efficient internal control, rather than for general risk management purposes. On a separate note, Sarbanes Oxley Act itself poses as a great operational risk (compliance risk) to most corporations. As far as this is concerned, ERM lends itself to an effectively toolkit for managing this type of risk in corporations overall risk portfolio. Basel Capital Accord II Basel Capital Accord II [10] has also likely contributed to the development of ERM. This new Basel Capital Accord describes clearly the determination of capital requirements for the banking industry from the regulatory point of view. Besides minimum capital requirements, it also highlights the importance of supervisory review process of management of major risks. For the first time, Basel II explicitly reflects regulatory interest in operational risk. Regulatory capital requirements and review process should stipulate ERM adoption by corporations, to attain unification of risk and capital management, and to fulfill compliance needs. Rating agency Compared to the previous two forces, rating agencies have a more direct influence on promoting ERM practice. Rating agencies have always been a major constituency for corporations. Standard Poors (SP) started to evaluate ERM practice and incorporate it in the rating process for insurers in 2005 [22] and refined the criteria in 2006 [23]. The rating criteria span important components of the ERM process. Risk management culture, risk control techniques, methodologies and principles employed by risk models and the ability to deal with emerging risks all contribute to insurers overall ERM assessment. SP also gives positive weight to the articulation of risk appetite (and resulting risk tolerance, risk limits, etc.), which further demonstrates the fundamental role of risk appetite in the ERM process. In 2006, SP extends its ERM evaluation to the financial industry by developing rating criteria specifically for financial institutions [24]. The ERM assessment framework is built up in three dimensions: infrastructure, policies, and methodology. The evaluation process focus on five aspects: risk governance, operational risk, market risk, credit risk, and funding and liquidity. Among those, risk governance includes risk culture, risk appetite, risk aggregation/quantification and risk disclosure. Highly rated financial institutions are those that use effective methodologies and procedures to control each important category of risks, and have a holistic view of the overall risk profile. SPs rating will undoubtedly encourage continuous adoption and elaboration of ERM in these industries. In the foreseeable future, it is very likely that rating agencies may start to establish rating criteria for general industries, which will provide even stronger incentive for all corporations to advance aggressively in the ERM process. ERM FUTURE VALUE CREATION (CONCLUSION) ERM practices may have been initially driven by compliance needs, however ERM development should continue to serve an internal control function for better corporate governance. Moreover, the forces upon which ERM thrives are related to the potential economic values generated by better managing risks under identified objectives. One common objective for the majority of corporations is to maximize firm value. ERM is the framework where corporations optimize the risk/return relationships for their businesses. This optimization is achieved through alignment of corporate strategic goals and risk appetite. At the operational level, the alignment guides virtually all activities conducted by the corporation. Specific risks are identified and measured. They are prioritized and integrated by recognizing the inter-relations and relative influences. Risk management strategies are developed for the portfolio of risks. The effects are assessed and communicated. In this way, ERM cuts waste of resou rces caused by inadequate communication and cooperation under silo-based risk management framework. ERM also increases the capacity and frees space for new opportunities to be explored. Other than these two primary sources of value, more effective risk management also creates benefits from higher credit ratings, lower distress costs, more favorable contract provisions, etc. Testing the added value of ERM itself is another presented challenge. Wang (2002) [18] proposes that value creation can be calculated as the increase in economic value of the portfolio after implementing ERM, where economic value is obtained by discounting the expected total profit/loss taken against the distorted distribution function (by two-factor Wangs transform). Zenios (2001) [25] demonstrates from an operations research perspective that effective integration of risks under ERM will create value by pushing out the risk/award frontier of the entire portfolio. More theoretical and empirical analysis is needed to demonstrate/test the added value from ERM. We conclude on a final note of the evolving nature of ERM. ERM is still at its early stage of development for the most part. Conceptual and practical frameworks are still being constructed through gathered efforts from regulators, industries and academia. More advanced methodologies, techniques and tools are emerging every day. Therefore, some of the aspects (e.g., what ERM really is, the real effect, how it can be best implemented, etc.) described are necessarily vague and debatable due to the lack of consensus regarding exactly what constitute effective ERM and lack of evidences regarding the empirical benefits of different implementation scenarios of ERM. It is the hope that most of the ambiguity will resolve itself as this process goes on and more concrete and analytical discussions can then be carried out.

Genetic Engineering A New Era - 1800 Words

A new Era â€Å"Genetic Engineering† One day, working at a field harvesting vegetables, I saw the most horrifying creature in the world, which was a cricket with two heads, and I screamed â€Å"genetic engineering!† Genetic engineering is when scientist, researchers try to manipulate the genes of living creatures to create another creature. In addition, this is used to alter the traits of creatures, by combining more traits from other creatures. Basically, this is a way to benefit our society, but also to potentially worsen it with these genetically modified genes. Genetic engineering has been practiced for several years, and still is being practiced, not just with food, but also with animals, and soon with humans. It is changing our views, and making us to think we can be gods, and also we are changing the food chain by altering vegetables and fruits. Animals and plants are mutating from these horrible experiments, and can spread diseases among everyone in the world. A lthough supporters of genetic engineering say that the practice of altering genes can contribute too many cures to diseases that plagues humans and animals, it should not be legal in the United States because it is deteriorating the lives of many. One reason why genetic engineering should be illegal is because it is unsafe. Scientist and researchers are practicing these genetic engineering experiments which can lead to harmful consequences even death to humans. Plants are being used as a base of experiments to helpShow MoreRelatedEssay about Genetic Engineering: A Major Advancement for Mankind959 Words   |  4 PagesAsimov once said, The advancement of Genetic Engineering makes it quite conceivable that we will design our own evolutionary progress.† Scientists have always thought about new ways to progress through technology in our era, and in 1946, scientists discover that Genetic material from different viruses can be combined to form a new type of virus. 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The Killers - Hot Fuss free essay sample

Somebody told me, you had a boyfriend, who looked like a girlfriend that I had in February of last year. What exactly do those words mean? I have no clue, but they belong to one of last summers most infectious tunes. Who are The Killers? Although their name sounds menacing, I can assure you that their music is nothing of the sort. This fab quartet from Sin City burst onto the music scene with their hit Somebody Told Me. Its catchy lyrics and melodic rhythm were the ingredients that helped this great song shine. Hot Fuss contains songs that are just as good if not better than the single. You can tell The Killers are a more artsy band, as some would say, with creative writing and a strong outlook on the future. Besides the already-popular Somebody Told Me, another favorite of mine is Mr. Brightside. The smart lyrics and constant flow could make this a huge hit. We will write a custom essay sample on The Killers Hot Fuss or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Its a song I put on if I decide to exercise or do some mindless dancing. Another great song is All These Things Ive Done. The Killers feature a soulful choir which gives a this different, surreal feel. This is one of the songs that distinguish The Killers as artful, creative artists. The Killers are destined for success and I will be behind them every step of the way. They create smart and tasteful music that can be enjoyed by all. By adding contrasting elements and inventive sounds, they will surely rise to the top. Until then, enjoy their debut CD and look for them in the future. I can assure you they will be there.

A Storytellers Legend free essay sample

Windsor Castle, Buckingham Palace, and Westminster Abbey are all misleading. Their stained glass windows, twinkling chandeliers, and gold plated arches create auras of reverence, masking the many scandals, affairs, and conspiracies that happened behind their walls. I hesitate to follow my tour group as they pass the Coronation Chair at Westminster. A bell tolls, breaking the silence, and I glance behind me at the rows of seats once occupied by lords and ladies three hundred years ago. A wooden door catches my sight, and I absent-mindedly nod as my mother calls me a few feet away. I tug on the door. It refuses to open. I know the door isn’t there for aesthetic value. No artwork hangs above it and no stone sculpture accompanies it. The door is simply locked, like too many others I passed at Windsor and Buckingham Palace. There has to be more to it than meets the eye. We will write a custom essay sample on A Storytellers Legend or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page There must be a secret behind it. A spark in my imagination shocks my entire body and I flip through my red notebook to a blank page. What if there was a conspiracy, now long forgotten, that prompted this entrance to be forbidden? He escapes behind the throne room seconds before his father’s arrival, my pen scratches. â€Å"She knows about the Scroll, James.† His sister’s voice catches him off guard, stinging of disapproval. James shifts his jaw. â€Å"He can’t know.† â€Å"Which is why we’re going to kill him.† The bookworm in me, desperate for another form of adventure after the conclusion of the Harry Potter series, authored Legend of the Lost Scroll. Touring the sights of London, I imagined them to be full of secrets and mysteries as ancient as the city itself. They were the fuel I needed to create an intriguing novel, full of charismatic characters and vengeful villains. A year later, my words greeted me at my doorstep, bound in paperback. I picked up the copy on top, â€Å"Arushi Sharma† printed across the bottom. The second copy was no different. â€Å"Arushi Sharma† was etched in white. I flipped to the third and fourth copies for confirmation, enunciating my name every time. I was â€Å"Arushi Sharma†. Vacations continue to be my source of inspiration even for my successive novels. Curiosity about locked rooms in the Palace of Versailles trigger fantastical ideas for Legend of the Lost Scroll’s sequel. I scribble across the same red notebook, golden towers decorated the palace’s entrance, a wall of serenity hiding the malevolent intentions of its princess. Even the mystique of San Francisco’s historic trolley lines kindle ideas within me. â€Å"What do you think I’m doing?! I’m stealin’ an ambulance,† I write sitting in a trolley, passing Lombard street, as sirens blare around me. I chuckle to myself at the incompetence of a crook trying to navigate the world’s crookedest street in a stolen ambulance. A quote from Frank Sonnenberg makes an appearance in Legend of the Lost Scroll. I meant it as motivation for my protagonist’s struggle, but today I realize, maybe it really was for me. â€Å"Everyone on this earth is born for a reason, what’s yours?† I no longer write as the bookworm who yearned for creative sustenance after the conclusion of J.K. Rowling’s magical series. I write now because I’m a storyteller. I was born to tell a story.

In The Shadow Of A Hero free essay sample

A huddled figure walks toward me on a chilling October afternoon. At a distance, from under the cover of a hood, white smoke emerges in a regular pattern. As I run closer, I notice the figures hands are jammed in the pockets of his parka. At his slower pace, and my quicker, our distance closes. From under the darkness of the hood, a generously wrinkled face, thin spectacles, and gloomy bloodshot eyes are born. As if their focusing is a great task requiring much energy, his eyes lock upon mine. A simple smile appears which warms his cold expression and brightens his eyes as well as my own. He draws his hand from his pocket. Wrapped in white gauze from knuckles to wrist, his hand raises and waves. My own returns the greeting. How are you today? I inquire. Out of breath he responds, Not as well as I should be. We will write a custom essay sample on In The Shadow Of A Hero or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Well, you have a good day, I reply without thought. You too, he weakly mutters. A smile accompanies my words, and I try to focus back to my running. After what seems hours of thought, I slowly stop and turn to watch the hand return to its pocket, the head slowly fal, and the smoke resume its rhythm. I watch the figure fade from my vision and I stand contemplating what had occurred during the previous few minutes. I am awe-struck and surprised as I recall many other instances where we met. On that day I never ran again. Instead, I walked back with my hands nestled deep in my pockets, inadvertently mimicking him. Why this one meeting is so clear in my mind, I do not know. I have seen this man many times shivering in the cold, walking in the same crippling position. I have seen him in the rain walking without an umbrella. In the heat of summer, wearing a shirt, pants, and tie, he has walked. His nose always red in the cold and his cheeks the same in the heat. John Burroughs stated, I see on an immense scale, and as clearly as in a demonstration in a laboratory that we are made strong by what we overcome. Devastating elemental forces have each and all played their part in developing and hardening man and giving him the heroic fiber. By his actions, words and appearance on this particular day and all other days our paths crossed, I believe that he fits Burroughs and my concept of a heroic figure. He was making a path, avoiding the paved road. He was overcoming obstacles on his own, probably knowing he would never complete the attempted task. I failed to realize this on that day. I now see that his character and strength of mind were strong enough to face the world alone in his tormented and weakened physical state. A hero is an individual who daily makes an attempt. Since that day, I have not encountered him. That day, as well as others, have become integrated in my mind. I know not where he was going nor what he was doing, but he was out, inconspicuously overcoming obstacles, living a life of his own. As I examine my life, despite its myriad masks, I see that I have yet to live my own life. I have not overcome quite as many obstacles. I envy the man who has. He is my personal hero. Should I ever fall upon his path again, such a statement I shall make. He has become a symbol of my goals and what I hope to become and accomplish. He is my beacon of light boldly shining in a world of darkness.

Free Essays on Are Warewolves Real

Are Werewolves Real? The Morbach Monster Have you ever heard of the Morbach Monster? I first learned of the legend while I was stationed at Hahn Airforce Base, Germany. Morbach was a munitions site just outside of the villiage of Wittlich. Supposedly Wittlich is the last town where a werewolf was killed. There is a shrine just outside of town where a candle always burns. Legend has it that if the candle ever goes out the werewolf will return. One night a group of security policemen were on the way to their post at Morbach, when they noticed that the candle was out at the shrine, and all joked about the monster. Later that night alarms were received from a fence-line sensor. When the security policemen investigated the call one of them saw a huge "dog-like" animal stand up on its back legs, look at him, and jump over the 7 1/2 foot chain-link fence. A military working dog was brought to the area where the creature was last seen, and the dog went nuts, not wanting anything to do with tracking the creature. This occured around 1988. Another eye-witness account reads as follows: "I was stationed at Hahn Air Base, Germany, from May 1986 to August 1989 as a security policeman, and it was my group that witnessed the Morbach Werewolf. Whoever told you the story about the monster that you put on your website had very accurate information. The creature that we saw was definitely an animal and definitely dog or wolf like. It was about seven to eight feet tall, and it jumped a twelve-foot security fence after taking three long leaping steps."... Free Essays on Are Warewolves Real Free Essays on Are Warewolves Real Are Werewolves Real? The Morbach Monster Have you ever heard of the Morbach Monster? I first learned of the legend while I was stationed at Hahn Airforce Base, Germany. Morbach was a munitions site just outside of the villiage of Wittlich. Supposedly Wittlich is the last town where a werewolf was killed. There is a shrine just outside of town where a candle always burns. Legend has it that if the candle ever goes out the werewolf will return. One night a group of security policemen were on the way to their post at Morbach, when they noticed that the candle was out at the shrine, and all joked about the monster. Later that night alarms were received from a fence-line sensor. When the security policemen investigated the call one of them saw a huge "dog-like" animal stand up on its back legs, look at him, and jump over the 7 1/2 foot chain-link fence. A military working dog was brought to the area where the creature was last seen, and the dog went nuts, not wanting anything to do with tracking the creature. This occured around 1988. Another eye-witness account reads as follows: "I was stationed at Hahn Air Base, Germany, from May 1986 to August 1989 as a security policeman, and it was my group that witnessed the Morbach Werewolf. Whoever told you the story about the monster that you put on your website had very accurate information. The creature that we saw was definitely an animal and definitely dog or wolf like. It was about seven to eight feet tall, and it jumped a twelve-foot security fence after taking three long leaping steps."...

Chinese Women today-qz Essay Example | Topics and Well Written Essays - 1250 words

Chinese Women today-qz - Essay Example China, home to one in five of the worlds women, is around the few nations where women are encountering a rights rollback, as stated by feminists, scientists and information from the All-China Womens Federation, which is designated and run by the legislature to speak to womens hobby. In the 1950s, women appreciated top-down additions gave by the Communist Party and Mao Zedongs proverb that "whatever male friends can do, female companions can do, as well." The blinding shine of the most recent 35 years of budgetary additions clouds the way that while Chinese women have profited from the climbing tide lifting all vessels, they are indeed losing ground. Women livelihoods are falling in respect to mens; conventional demeanor are transferring women to the home; and ladies net fortune may be contracting. While female parliamentary representation somewhere else is climbing, the rate of ladies in Chinas national council, the National Peoples Congress, has level lined for a long time at a little more than 20 percent. Regardless of a compelling authority account that womens rights are overall secured, there is no development in essence to secure women According to numerous feminists, there is no political will to enhance women’s standing. A little gathering of men set approach in China, and they dont see ladies rights as a standard issue. Additionally, women need financial clout. The oft-touted reality that Chinese women possess 7 of the 14 positions on a year ago Forbes rundown of capable billionaires. Numerous women have been closed out of what may be the greatest amassing of land fortune ever, esteemed at over $17 trillion in 2010" by the bank HSBC, she composed. A dubious change to the Marriage Law passed in August says that in separation, unless challenged, property returns to the legitimate manager, leaving numerous women who cannot demonstrate their budgetary commitment with nothing. Generally, although equality has never been attained,

London is one of the most culturally and ethnically diverse cities on Assignment

London is one of the most culturally and ethnically diverse cities on the planet - Assignment Example Essentially, multiculturalism enhances a community. It regenerates cities that are on the verge of decay. This is demonstrated in the case of the staging of the Olympics in London this year. With the event, there is an expectation of a positive effect in the population movement both inwards and outwards. Britain maintains it will create a stable, progressive and sizable community that is multi-ethnic in composition. The Olympics is expected to bring in people, wealth and diversity with all the developments that will take place. The positive consequence can be specifically illustrated in an aspect of life in London affected by the influx of foreign migrants. Benedictus revealed how the diversity gave life to the food industry in the city. It was explained that culinary tradition is one of the things that the British way of life lacks and as the new immigrants crave for a taste of home, many restaurants offering foreign food open in new immigrant communities. Native Londoners were quick to welcome the changes, which led to a vibrant food industry that provides for the needs of both the migrants and the Londoners alike. This example represents how immigrants contribute new ideas, new changes and new dimension to a community. According to Parekh, multiculturalism â€Å"is not about shutting oneself up in a communal or cultural ghetto and leading a segregated and self-contained life† because it is all â€Å"about opening oneself to others, learning from their insights and criticisms, and growing as a re sult.† Multiculturalism is not without risks. The spate of riots that plagued London in recent years is evidence to this point. When social integration fails, there is always the danger of conflict. There are several reasons for this. First, there is ignorance, which according to Benedictus, breeds intolerance. Unfortunately, it happens most of the time. Then, there is also the media. It feeds ignorance and encourages discrimination by stereotyping people and

The U.S. Criminal Justice System Essay Example | Topics and Well Written Essays - 750 words

The U.S. Criminal Justice System - Essay Example The U.S criminal justice system has evolved as an assortment of various structures and components which operate independently. Like the systems in other countries, the U.S criminal justice is an interaction of three major components; the law enforcement agencies, the court systems and the correctional system (Carlson and Garrett, 2006). Each of the systems operates as an independent entity with little association among the various agencies. The American system majorly owes its roots from the England during the colonization era. During the colonial era, issues of crime were majorly handled by vigilante groups and private citizens. In absence of a governing system with regard to administration of justice, the British colonialists introduced several English legal traditions in America without replacing the private system and the customs adapted from other parts of the world. However, this informal system became obsolete due to the increasing population and urban growth paving way for el ites under the premise of enlightenment to challenge the existing criminal justice system which was primarily based on capital punishment and torture among other inhumane acts. In the wake of the enlightenment era, there was a move towards a more defined system with written rules and punishment. The central dogma for the justice system advocated by the enlightenment group was the need to have a system which would make people more aware of illegal actions and their respective consequences.   There was also need for equality and uniformity to be applied in the administration of justice. The American Revolution set the stage for the U.S to establish its own criminal justice system free from interference by the British. A rapid transformation of the criminal justice system was witnessed in the nineteenth century marked by increase in urban law enforcers and correctional system. However, the increased level of crime despite the transformations paved way for professionalism in the crimi nal justice system in an effort to understand the root causes of crime and effective control measures (Matthews et al, 2007). The increased professionalism led to implementation of more effective policies and processes in the justice system. This led to heightened efforts in empowering the various law enforcement agencies, courts and correctional systems at federal, state and county levels. As a result, the U.S system has remained as a complex assortment of highly fragmented organizations which interact with each other indifferent ways. Though there have been calls for transformation of the U.S criminal justice towards a unified system, such efforts have been met with opposition from various stakeholders like politicians and other beneficiaries hence majority of the states have retained the fragmented system.

Styles Used in Islamic Art

Styles Used in Islamic Art What is sacred art? Who determines what art is sacred? And what reasons do they decide upon? Many questions surface when it comes to distinguishing the difference between sacred art, religious art, and traditional art. The three are different from one another in some way. Sacred art includes depictions encouraging humans into spirituality. It is the result of divine inspiration. It is basically something specifically made for the purpose of worship and can range from a prayer carpet to the prayer itself. Due to the fact that in the Islamic civilization, the depiction of figural representation is forbidden, Islamic art primarily focuses on spiritual geometric forms, calligraphy and biomorphic designs. From the Middle-Ages, Islamic art has always had this theme of balance, unity and harmony in its patterns; which in Arabic is called el tawhid. It uses repetition of designs to come across with crucial concepts such as Gods creation of the universe. In comparison, religious art is that type of non-traditional art devoted to religious themes and functions even if its method of execution and language are no longer traditional (Sophia 1996). It consists of illustrations of themes or events depicted in holly books. This type of art can only be appreciated by its followers. For an example, to a Muslim a painting of Saint Mary and Jesus may not seem as appealing as it would to Christianity followers. Finally, traditional art; is dissimilar from both the previously stated arts as it is the art that deals with a culture or a specific group of people. Due to all its principles and techniques of symbolism it assists the viewer to become aware of the Divine; which is in Islam God but for an example in Christianity Jesus Christ. Egypt with all its mosques, churches and even Jewish temples, is a proper example of where many traditional arts appear since there is many arts however they suit all the religions perfectly. The Islamic work of art is a symbolic statement, as is all art; for it attempts to make a sensory representation of an important idea not evidenced to the senses (Al Faruqi). However, the Islamic civilization tends to spread religious architecture rather than sacred architecture. It focuses primarily on representing the theme of tawhid through its architecture, calligraphy, and forms. However, it is impossible to for a non-follower to understand this type of art. In reverse, it is also impossible for one to understand Islam and its message without being exposed to its art; which carries a true and deep meaning to it. This can all be understood by looking back at what Henry David Thoreau once said its not what you look at but what you see; where symbolism is explained; that what the art means or reflects varies from one person to another. As Islamic art focuses on patterns and symmetry to demonstrate unity it uses many styles to accomplish its mission. One of the famous styles used in Islamic civilization is the smallness of the elements of the compositional motifs which is how forms are fixed to the smallest details. This is concluded to drive the viewer to concentrate on every little detail. A second style used in Islamic art is the complication of the motifs which generates the viewer to look at the design from different perspectives. The third style seen in Islamic art uses repetition of patterns; to symbolize infinity. Islamic art also contains many forms such as divisions and symmetry. Such divisions embody organization and infinity. Most of the previously stated styles and forms can be found in the famous design called the Breath of the Compassionate. The Breath of the Compassionate, or al-nafas al-rahman, is an eight-point star, is a famous design to many cultures and religions. It can be found in many religious iconographies; just like the form of a niche can be found in churches, synagogues and mosques. However, it holds a different meaning to every religion it is illustrated in. I believe this widely-known design of symmetry and balance has great significance to the Islamic idea of el tawhid demonstrating harmony and unity. One of the major reasons, I believe so is because it uses all of the forms and styles I have previously stated above such as symmetry, repetition and geometry. One major aspect that needs to be explained in many of the Islamic designs is the use of the number eight; in the number of sides, points of a star and so forth. This number is used in many of the Islamic designs especially where octagons can be found. The Breath of the Compassionate is a great example to look at while discussing the deep meaning behind the number eight. The number eight holds different meanings to many cultures as well as to diverse religions. First and foremost, eight symbolizes eternity and absolute perfection (Schimmel). It is also the number of how many gates Paradise has unlike Hell which has seven only. This shows that Gods mercy is greater than His wrath (Schimmel). The word Compassionate in the phrase the Breath of the Compassionate is derived from the ninety-nine names of God. Compassionate resembles infinity therefore; Islamic designs tend to be repetitive. As a result, I believe that the indirect message behind the phrase the Breath of the Compassionate is Gods creation of the universe. Moreover, it represents His endless compassion towards Muslim followers; which in Arabic is rahma. In conclusion, as Islamic art displays no figural representations and entirely focuses on symmetrical and unified geometrical patterns it carries a deep meaning to it that mostly only Muslims can comprehend. All Islamic art follows the transcendent theory of el tawhid; to inspire Islam followers into believing in the concept of La-illah ila-Allah; meaning one God. To sum up all my points, I believe the unity and balance created in Islamic iconographies demonstrates the creative will of God.

One More River :: essays research papers

One More River Can you imagine having to leave everything you have ever known to live in a country on the verge of war? Lesley Shelby, the main character in One More River by Lynn Reid Banks, knows exactly how it feels. This Jewish Canadian girl has to emigrate to Israel with her family. Through the determination and courage of one person we see how challenges, complications, and differences of the world are overcome.   Ã‚  Ã‚  Ã‚  Ã‚  In the story the most important character is Lesley. Lesley is a spoiled, pretty, Jewish, fourteen year old living in Canada. As the story progresses we see Lesley change to a caring and mature person by overcoming the differences in her new life. Two other important characters are Nat Shelby and Mustapha. Lesley’s father, Nat Shelby is the person who decided the family needed to live in Israel. Mr. Shelby decides he doesn’t want his daughter growing up as a spoiled uncaring princess. Mustapha, other important character, is an Arab boy who Lesley watches abuse his donkey across the Jordan River. All the Jews are not supposed to hate Arabs, but Lesley however comes in contact with Mustapha by the river and talks to him as a person not as an enemy. Mustapha made Lesley a more understanding person towards different kinds of people. The character I would most admire is Lesley for her ability to adapt to a new home, country and way of life.   Ã‚  Ã‚  Ã‚  Ã‚  Throughout the book there were many turning points. The war made Lesley really feel a part of Israel and the people. Another turning point was when Lesley was allowed to join the p’oola because she was finally excepted as one of them. The most important turning point is when Lesley, at the end of the book, takes the picture Mustapha threw at her and wrote “a peace between us and between our peoples'; in three languages and stuck it in the wall in Jerusalem. The major conflict in this story was moving to Israel because Lesley threw fits until she secretly visited Noah. (Lesley’s brother who was disowned because he married a catholic girl.) He told her to go and that’s when the conflict stopped. The plot enabled the characters to change. Lesley became excepting of life and the Arabs through events in the plot. In 1966 the Shelbys lived in Canada and then moved to a center in Israel were they had to learn Hebrew. One More River :: essays research papers One More River Can you imagine having to leave everything you have ever known to live in a country on the verge of war? Lesley Shelby, the main character in One More River by Lynn Reid Banks, knows exactly how it feels. This Jewish Canadian girl has to emigrate to Israel with her family. Through the determination and courage of one person we see how challenges, complications, and differences of the world are overcome.   Ã‚  Ã‚  Ã‚  Ã‚  In the story the most important character is Lesley. Lesley is a spoiled, pretty, Jewish, fourteen year old living in Canada. As the story progresses we see Lesley change to a caring and mature person by overcoming the differences in her new life. Two other important characters are Nat Shelby and Mustapha. Lesley’s father, Nat Shelby is the person who decided the family needed to live in Israel. Mr. Shelby decides he doesn’t want his daughter growing up as a spoiled uncaring princess. Mustapha, other important character, is an Arab boy who Lesley watches abuse his donkey across the Jordan River. All the Jews are not supposed to hate Arabs, but Lesley however comes in contact with Mustapha by the river and talks to him as a person not as an enemy. Mustapha made Lesley a more understanding person towards different kinds of people. The character I would most admire is Lesley for her ability to adapt to a new home, country and way of life.   Ã‚  Ã‚  Ã‚  Ã‚  Throughout the book there were many turning points. The war made Lesley really feel a part of Israel and the people. Another turning point was when Lesley was allowed to join the p’oola because she was finally excepted as one of them. The most important turning point is when Lesley, at the end of the book, takes the picture Mustapha threw at her and wrote “a peace between us and between our peoples'; in three languages and stuck it in the wall in Jerusalem. The major conflict in this story was moving to Israel because Lesley threw fits until she secretly visited Noah. (Lesley’s brother who was disowned because he married a catholic girl.) He told her to go and that’s when the conflict stopped. The plot enabled the characters to change. Lesley became excepting of life and the Arabs through events in the plot. In 1966 the Shelbys lived in Canada and then moved to a center in Israel were they had to learn Hebrew.

Marjane Satrapi – Persepolis

Marjane Satrapi’s book Persepolis is alternatively called by the critics a â€Å"graphic novel† or an autobiographical comic sketch. The book is made up of a series of black and white illustrations, arranged in little episodes that represent different scenes from the life of Marjane’s family, in Tehran. It begins immediately after the Islamic Revolution in Iran in 1979 and continues with the first four years of the war between Iraq and Iran. The main character in the story is Marjane herself, who is ten years old when the revolution starts. Although both the language of the novel and the illustrations are very simple and straightforward, only revealing the essential facts of the story, the book is nevertheless very effective and delivers its message as well as any other text. The scarcity of text doesn’t cut down on its literary value, on the contrary, the book seems to gain a lot from this brief and report-like writing style. The main reason for this is the fact that the author creates a sharp contrast between the objective, documentary style, with its brief sentences and its matter-of- fact information and the personal narrative that is actually conveyed to the reader. The subjective point of view in the book is only hinted at in an apparently impersonal tone. Moreover, Marjane Satrapi intentionally substitutes the ten years old girl for herself, and thus manages to register her reaction as a child to the religious and political movements in Iran. The girl actually grows as a character by the end of the book, passing, like any character of fiction, from one stage to another in her development. This is achieved mainly through the careful notation of the child’s reactions to every event mentioned in the book. Although all the statements in the novel seem unbiased, Marjane Satrapi succeeds in conveying her own message as if she had written a truly subjective and explanatory narrative of her experiences. Although very succinctly, the book captures the absurdities of the fundamentalist movement in Marjane’s country, with the array of social and political transformations that took place afterwards. All this is done in an ironic tone, although again, the writing style remains unornamented. One by one the main social and political problems are displayed, from the dispute around the subject of the veil that the women have to wear all the time, according to the fundamentalists, to the closing of the all bilingual schools and of all universities for two years, or the closing of the American embassy because of the attacks of the religious fanatics. The author cleverly unmasks the backward views of the new political regime, who was capable of closing the schools so as to ward off the â€Å"dangerous† capitalist ideas that were cultivated there: â€Å"The educational system and what is written in schoolbooks, at all levels, are decadent. Everything needs to be revised to ensure that our children are not led astray.† (Satrapi, 25) At the same time that the crucial events of going on in the country are related (mostly in the form of television reports, as the family actually found out the news probably), there are also many events that involve the family as well, like the women’s protest against fundamentalism and â€Å"the veil†, which is rapidly suppressed by the political forces, or the attack that the girl’s mother suffers on the street because she doesn’t wear the veil. Society also changes, and the parents of the girl note that the same people who engaged in usual â€Å"liberal† activities before, like wearing â€Å"modern† clothes or drinking, suddenly change these habits outwardly and start lying. The moment when Marjane’s mother tells her to tell everyone that all she does at home is pray is very ironical: â€Å"If anyone asks you what you do during the day, you say pray, you understand?†(Satrapi, 29) In very few words and illustrations, Satrapi manages to portray the Iranian society after the Islamic Revolution, with its insincerity and fear of persecution. All through the book, Marjane evolves by reacting to the environment that surrounds her and by understanding new things. The author carefully transcribes her reactions: for example, during first episode or â€Å"The Veil†, the girl remarks that she â€Å"really didn’t know what to think about the veil† (Satrapi, 2), capturing thus the dilemma and confusion of the child, who although deeply religious, was at the same time used to the modern ways of her family. Other reactions and feelings are registered in the book, like the dream of the girl to become a prophet, or the moment when the family comes back from Spain to find out that the war had begun in Iran, and Marjane experiences a feeling of patriotism, and discovers that she wanted to fight for her country. Her desire to become a chemist like Marie Currie follows, and then more rebellious years as an adolescent who listens to American music. All these examples and many more, manage to portray ten years old Marjane as a strong character who is able keeps her views in the midst of the general confusion and fear, and to cope with the war and violence that surrounded them. The book makes a good literary work especially because of the personal voice of Marjane, which although it is not really heard as such, vibrates through the ironic and objective style. The genre that Satrapi creates is thus at once documentary because it is true and autobiographic, and literary, since as all literary works, it manages to convey much more than can be read at the surface of the text Works Cited: Satrapi, Marjane. Persepolis. New York: Pantheon Books, 2003

A Short History of the Ball of Goo Called Silly Putty

A Short History of the Ball of Goo Called Silly Putty Silly Putty, one of the most popular toys of the 20th century, was invented accidentally. Find out what a war, an indebted advertising consultant, and a ball of goo have in common. Rationing Rubber One of the most important resources needed for World War II war production was rubber. It was essential for tires (which kept the trucks moving) and boots (which kept the soldiers moving). It was also important for gas masks, life rafts, and even bombers. Beginning early in the war, the Japanese attacked many of the rubber-producing countries in Asia, drastically affecting the supply route. To conserve rubber, civilians in the United States were asked to donate old rubber tires, rubber raincoats, rubber boots, and anything else that consisted at least in part of rubber. Rations were placed on gasoline to hinder people from driving their cars. Propaganda posters instructed people in the importance of carpooling and showed them how to care for their household rubber products so they would last the duration of the war. Inventing a Synthetic Rubber Even with this home-front effort, the rubber shortage threatened war production. The government decided to ask U.S. companies to invent a synthetic rubber that had similar properties but that could be made with non-restricted ingredients. In 1943, engineer James Wright was attempting to discover a synthetic rubber while working in General Electrics laboratory in New Haven, Connecticut when he discovered something unusual. In a test tube, Wright had combined boric acid and silicone oil, producing an interesting gob of goo. Wright conducted a multitude of tests on the substance and discovered it could bounce when dropped, stretch farther than regular rubber, didnt collect mold, and had a very high melting temperature. Unfortunately, though it was a fascinating substance, it didnt contain the properties needed to replace rubber. Still, Wright assumed there had to be some practical use for the interesting putty. Unable to come up with an idea himself, Wright sent samples of the putty to scientists around the world. However, none of them found a use for the substance either. An Entertaining Substance Though perhaps not practical, the substance continued to be entertaining. The nutty putty began to be passed around to family and friends and even taken to parties to be dropped, stretched, and molded to the delight of many. In 1949, the ball of goo found its way to Ruth Fallgatter, an owner of a toy store who regularly produced a catalog of toys. Advertising consultant Peter Hodgson convinced Fallgatter to place globs of the goo in plastic cases and add it to her catalog. Selling for $2 each, the bouncing putty outsold everything else in the catalog except for a set of 50-cent Crayola crayons. After a year of strong sales, Fallgatter decided to drop the bouncing putty from her catalog. The Goo Becomes Silly Putty Hodgson saw an opportunity. Already $12,000 in debt, Hodgson borrowed another $147 and bought a large quantity of the putty in 1950. He then had Yale students separate the putty into one-ounce balls and place them inside red plastic eggs. Since bouncing putty didnt describe all of the puttys unusual and entertaining attributes, Hodgson thought hard about what to call the substance. After much contemplation and numerous options suggested, he decided to name the goo Silly Putty and to sell each egg for $1. In February 1950, Hodgson took Silly Putty to the International Toy Fair in New York, but most people there did not see the potential for the new toy. Luckily, Hodgson did manage to get Silly Putty stocked at both Nieman-Marcus and Doubleday bookstores. A few months later, a reporter for The New Yorker stumbled across Silly Putty at a Doubleday bookstore and took home an egg. Fascinated, the writer wrote an article in the Talk of the Town section that appeared on August 26, 1950. Immediately, orders for Silly Putty started pouring in. Adults First, Then Children Silly Putty, marked as The Real Solid Liquid, was at first considered a novelty item (i.e. a toy for adults). However, by 1955 the market shifted and the toy became a huge success with children. Added to bouncing, stretching, and molding, kids could spend hours using the putty to copy images from comics and then distort the images by bending and stretching. In 1957, kids could watch Silly Putty T.V. commercials that were strategically placed during The Howdy Doody Show and Captain Kangaroo. From there, there was no end to the popularity of Silly Putty. Children continue to play with the simple gob of goo often referred to as the toy with one moving part. Did You Know... Did you know that astronauts on the 1968 Apollo 8 mission took Silly Putty with them to the moon?Did you know that the Smithsonian Institution included Silly Putty in its exhibit on the 1950s?Did you know that Binney Smith, the makers of Crayola, bought the rights to Silly Putty in 1977 (after Peter Hodgson passed away)?Did you know that you can no longer copy images onto Silly Putty from the comics because of the change in the inking process?Did you know that people did finally discover numerous practical uses for Silly Putty, including as a balance for a wobbly piece of furniture, lint remover, hole stopper, and a stress reliever?

Great Expaectation, Pip and Estella essays

Great Expaectation, Pip and Estella essays A. Time what a peculiar concept. It is not only the passing of minutes, second, the ticking of a clock. It is also change. Change of people Change of places. B. Overtime Estella went through great changes in the way she viewed Pip.Estella is cruel and incapable of love yet Pip never stops loving her. A. As kids Estella thinks very little of Pip and treats him poorly. 1. Estella did not find Pip attractive 2. She barely considered him a person, She thought of him as a play toy her mother had gotten for her. 3. He was a companion Estella could play with, hurt and tease. B. When they are older Estella starts to think differently of Pip . She starts to regret her poor treatment of him and eventually they become friends. 1. Estella has previously been married but it was an unhappy marriage and her husband had been killed by a horse that he had miss treated. Pip is happy when he hears Estella is single again. Estella hears the news of Pip new found fortune. 2. Estella has many admierers and she deceives and manipulates them but she said she does not treat Pip in such a manner. 3. Pip comes to realize that they are not meant to be together when he finds that Ms. Havisham did not leave him his fortune and they become friends. C. Even though Estella is cruel and unable to love, because of her upbringing by Ms. Havisham who had been hurt by men and raised Estella to be hard and tough, Pip still loved Estella. 1. Almost the whole book Pip is convinced that him and Estella are meant to be together forever. 2. Pip is innocent and naive and never utters a complaint even when Estella treats him so poorly. 3. Pip looks forward to visiting Estella, he thinks about her all the time and sees her as much as possible even thought she is so mean to him. A. Over time Estella went through great changes in the way she viewed Pip ...

Ascene of peace Essay Example | Topics and Well Written Essays - 250 words

Ascene of peace - Essay Example I could feel the cool breeze touching my face and filling me with energy and joy. I sat beside the sea watching the waves and the morning hues in the sky, I stopped the music and removed the headphone .I was soon lost in the mesmerizing view of the sunrise. It was still early and there were not many people around. The sea was calm, and then came a roaring wave hitting the shore , again it was still and so quite that you could hear the whistle of the breeze. I closed my eyes and felt the moment. This must be the kind of moment that must have inspired Wordsworth and Tennyson in many of their wonderful creations, I was so much lost in the scene of peace that I forgot all my worries and soon there were sounds of the birds and vendors setting up their counters selling food with the sun shining bright above the sea. I started walking back home enriched with morning’s delightful experience, my mind was no more pondering over the worldly affairs. I could hear the music of rustle of the leaves, chirping of the birds and the whistle of the breeze and I was overwhelmed by the peace of mind I felt after a sleepless night. Later that day my meeting went smooth and I realized that sometimes life’s easier than we can even think of, we seldom realize that real happiness is in small things we generally tend to ignore, because we have grown so materialistic and complex creatures that we search happiness in materialistic things, unfortunately the main factor which is dragging us away from feeling the essence of real life. That morning’s experience once again brought me closer to myself, and when I went to bed that night, Wordsworth’s lines from his classic rhyme Daffodils clicked

Final Project Assignment Example | Topics and Well Written Essays - 2500 words

Final Project - Assignment Example With the success of their product in the local US markets, they are thinking of catering to a wider region by penetration in the bigger markets of US and global markets too. In order to do so a major study has to be undertaken while deciding about the expansion of the market. A faulty expansion step can, not only account for a dip in profits but also be a threat for the whole existence of the business. Thus, a market plan is a serious necessity for market expansion. With the question of market expansion, the most widely used method used to analyze the decision aptly is that of SWOT analysis. It is majorly done to analyze the strengths, weaknesses, opportunities and threats of the particular business proposal. In this case, SWOT analysis is required to understand the strengths and weaknesses of the organization with respect to the idea of global expansion and also the opportunities and threats it may face from the external resources while expanding their business in the global forum. Another study which would be quite handful in this project would be the Porter’s Five Force Model. The Porter’s Five Force Model mainly takes into the account the major forces which affect the functioning of the firm namely the suppliers, competitors, substitutes, barriers to entry and buyers’ powers. A thorough study is to be made regarding all these heads so that it could be well understood that whether the decision taken of expanding their business in the global markets is really viable or not (Kotler, 2009). With the progression of the case all such topics would be covered under different heads. Each and every essential detail for entering into a global market with relation to the case will be analyzed in details and probable solutions will be provided. The nature of the product is a determining factor while decision regarding market expansion is taken that too globally. In this case, the major product is that of

Is Eminent Domain as Practiced Today a Violation of the Takings Clause Essay

Is Eminent Domain as Practiced Today a Violation of the Takings Clause of the Fifth Amendment of the US Constitution - Essay Example It has commonly been argued that eminent domain is a violation of the taking clause of the fifth amendment of the US constitution. The Taking Clause of the US Constitution The purpose of the taking clause featured in the US constitution is to bar the government from forcibly making some people bear public burdens, which is a responsibility of the entire public (Funk 123). On the other hand, the takings clause fully requires compensation whenever a government takes away private property and converts it for public use. Eminent domain gives the government power to take such property, even without fully compensating the private owners, which is contrary to the Fifth Amendment (Greenhut 65). The fourteenth and fifth amendments’ taking clauses of the constitution have similar meaning and effect. However, owners of property can enjoy more protection from the Fifth Amendment takings. Proponents of eminent domain believe that the US constitution’s Fifth Amendment takings clause does not prohibit the government from taking private property (Donahue 32). The requirement of public use is normally viewed like a restriction on the power of government over eminent domain as proponents of eminent domain believe. ... The situation of many individuals that have their properties taken by the government is normally made worse given that some of these properties are what they consider a lifetime investment and therefore beyond monetary value. In this respect, eminent domain denies individuals the right to enjoy whatever they have worked for irrespective of how much treasured their investments are to them (Sheldom 24). This as a result lowers the motivation of hardworking citizens who always live in fear considering that their properties may be taken at any time and without warning. Eminent domain has been applied blatantly with power-hungry and utilitarian justifications. Such events occur for example where large companies that remit more taxes to the government are favored against individuals or smaller organizations to an extent that properties are seized from the later unjustifiably for the benefit of the larger companies as noted by Ryskamp (35). This sometimes is done out of the consideration th at larger companies create more employment opportunities compared to smaller ones. Unfortunately the application of eminent domain in this respect is flawed as it considers individuals as fungible or substitutable objects. When the government seizes property based on such logic, it means that the government cares not for the welfare of those whose lives are ruined as a result against the constitutional implication that the individual’s right is absolute. Some quarters have reasoned that eminent domain helps in the redistribution of property and helps in creating equality and equity in the sharing of resources among nationals. This idea is further propagated based on the reasoning that the government helps in

Compare and contrast the poems Essay Example for Free

Compare and contrast the poems Essay The poem leaves us either reassured that in the midst of all evil there can be some good or depressed and in despair because in the family life of the Belson commandant lurks an evil which could ruin their lives any time. Night of the Scorpion The title denotes power and control from the scorpion as one night the scorpion ruled and controlled everything that happened. The title uses Night to give a sense of dark times and that something fatal may occur. The poem is very other. It has an Indian location which is where scorpions can be found as it is one of the warmer regions of the world. The poem is in free verse with the last three lines sectioned off. It is of narrative style and contains a very memorable heart. The weather was desperate and it was lashing with rain. In fact the monsoon conditions had affected the scorpion and all that it wanted to do was to shelter from the torrent. However it was disturbed by the poets mother who was probably searching for rice to feed her family. She was stung and the poison from the tail entered her bloodstream like a foreign invader defiling the enemy territory. Many neighbours arrived and the author compares this to a swarm of flies. I would compare it to students who clamour around desperate fro entertainment around a schoolyard fight or would be helpers around an accident victim. The neighbours like the helpers all had their suggestions many of their ideas involving the power, rituals and beliefs of religion. The scorpion is thought to be evil when in reality it is only trying to protect itself. The people believed that the victim and the scorpion were still linked. This bond meant that when the scorpion moved the poison inside the mother moved around her blood invading and conquering. Many prayers were said for the victim. The neighbours also felt that out of this tragic accident some good would emerge. The poison would burn away her sins and cleanse and purify her body of excessive ambition and lustful or adulterous thoughts or acts. Neighbours believed that her suffering was paying the price of evil to God and reducing the amount of evil in the world. The victims husband was willing to try any one idea or a combination and mixture of the suggestions. He was usually not one to believe in religion but usually based his opinions on logic and facts. Yet even he set fire to the affected site and watched the flame feeding on her toe. A holy man was allowed to perform sacred rites and after twenty hours the victim recovers only to rejoice in the fact that it was her and not her children. The mothers wishes were a superb example of the unconditional love most mothers feel for their children. Comparisons and Differences. Both poems are about creatures who are simply concerned with their own survival. With the vultures it is the need for food that causes them to be scavenges and with the scorpion its wish not to be squashed causes it to flash its diabolic tail. Both poems give information on cultures that are not familiar to us. The main difference is the message given by the poets In vultures the readers can chose there own position with regards to good and evil whereas the second message denotes the helplessness that sometimes death will occur and at other times the victim will survive. In the scorpion it is possible for both the victim and the scorpion to survive whereas the vultures will die if they dont eat prey and the prey is already dead. Death is a necessary evil for the vultures. Cultural Background I think that Night of the Scorpion best captures cultural background because it mentions religion and family life from another culture. For example mud baked walls and candles and lanterns and the Holy man performing his rights to tame the poison with an incantation. Whereas vultures is set in the middle of nowhere, somewhere like the deserted plains of Africa. It isnt something that would be found happening in a village. Scorpion is a true story of the poets family and it comes across through the detail and building of atmosphere the poem contains brought about by the phrase ten hours of steady rain had driven him to crawl beneath a sack of rice. As he was there at the time his thoughts and feelings are brought across very well in his writing. The poem shows compassion when the mother only said Thank God the scorpion picked on me and spared my children. Conclusion I prefer vultures as I like the way in which evil is contained in good. This is shown in the phrase in the very germ of that kindred love is lodged the perpetuity of evil. The evil is described in phrases such as picked the eyes of a swollen corpse, ate the things in its bowel and fumes of human roast. The good however is conjured up by inclined affectionately and tender offspring. I feel it is more of a poem compared to Night of the Scorpion because Scorpion is a very much narrative style of writing. It is too narrative for my liking.

Essay --

Instruction or lectures (amount and quality) Academic achievement of students disrupted and decline due to the instructor and lectures factor. Most selective university lecturers are very brilliant in their studies, but they are less skilled to give lectures to the students in the class. This made it difficult for students to understand the content of the lesson presented by the lecturers and make the student feel bored and uninterested. Imparting skills effectively is very important. Lecturers need to know and study the most effective methods to teach and get students' attention. Interesting teaching techniques and can effectively improve student enthusiasm for learning more seriously and diligently to excel in all subjects. Quality of teaching should be clearly described and punctuated by making a lot of refresher training with the students so that students can better understand the lessons taught. Besides, the lecturer should give tips and advice about education and how to answer the exam questions correctly. Environment (home, school, peers and technology) Environmental factors a...

Why is it Justifiable to Describe TCD’s Exam Hall

Architecture Essay Why is it Justifiable to describe Tad's Exam Hall as ‘classical? Michele Fox-Bell Submission Date: 7th December, 2012 â€Å"Classicism' a revival of or return to the principles of Greek or Roman art and architecture. Although most phases of medieval and later European art have to some extent been influenced by antiquity, the term ‘classicism' is generally reserved for the styles more consciously indebted to Greece and Rome. â€Å"l In this essay I will discuss why the Examination Hall in Trinity College Dublin can be considered a classical building.In the first century BC, the Roman architect Marcus Vitreous wrote his ten books of architecture. In these books, De Architecture, he detailed the Greek and Tuscan orders as a reference point for future architects. In 1563, Giaconda dad Avignon wrote his treatise, The Five Orders of Architecture, which was considered to be a guide for architects and builders throughout Europe. During the Renaissance, Andrea Palladian (1508-1580), wrote the The Four Books of Architecture, these books encompassed the classical architecture of Greece and Rome. It is from these roots that the Neo-Classical architects developed their approach to design, considering its form and function for both private and civic buildings throughout the 17th century. The Examination Hall in Trinity College, Dublin, stands in Parliament Square. Designed by the architect Sir William Chambers, but realized by Christopher Myers, and completed in 1785. Entering the college through the classical portico of the West Front of Trinity College, one emerges into a beautiful, elegant and enormous space consisting of two squares, Parliament Square, a cobblestones quadrangle, and Library square, which is set with lawns and trees.With the Campanile at the axis teen the two, to the left of this is the Chapel (1787-98), Dining Hall (1760-5), and the Graduates memorial building (1892), at the back of the square stands the Rubrics (1690), t he square is completed by the Library (1712-33) on the right, and the Examination Hall (1777-86). 1. Flemings Honor,H and Vesper, N. (1999) Architecture and Landscape Architecture The stylistic composition of the Exam Hall is Neo classical after the Roman style. In contrast to the West Front, with its festoons and garlands, it could be considered austere.Facing across the main quadrangle towards the Chapel, these two buildings error each other. Both are large single vaulted chambers with an apse, and a temple front portico in the tetra style, the columns being of the Corinthian order, supporting a pediment with unadorned tympanum, this mirroring was a device used in classical architecture to try to achieve balance, majesty, space and calm. The roof of the portico is of groin vaults springing from the imposts of Corinthian pilasters on the inside and the front columns.There are three principle registers, the ground floor, the piano mobile and the upper or attic level. There are five bays on the front elevation. The fenestration is typical, neoclassical, symmetrical distribution; the windows on the ground floor are round headed in keeping with the three arches in the portico, and the three arched windows above the entrance. On the piano mobile the windows are large, rectangular, with a pediment above, and console brackets and festoons below, the sills united with continuous including.The attic windows are smaller, and square with a lintel above them. The walls of the building are made from ashlars granite, with channeled rustication on the ground floor, giving the building a fortified and secure effect. The portico and three central bays are made from Portland stone, a sign of the illustrious economic climate during the last half of the 18th century (Portland stone was expensive and had to be imported from Dorset at some considerable cost). The longitude elevation of the exam hall consists of seven bays; the central window on the piano Mobile has a pediment.Agai n the fenestration is symmetrical, with square windows on the attic floor, above each window is a lintel, on the ground floor the ashlars granite is channel rusticated, and the rectangular windows again have lintels above them. An undecorated transfigures spans the building between the ground floor and the piano mobile. Central to the ground floor is a door with block rustication surrounding the entrance. A balustrade runs along the parapet on the roof. Behind the balustrade on the roof, semi-circular windows run the length of the building including the three semi-circular windows on the south facing elevation, which is where the apse is.The apse has three bays, the attic level contains the aforementioned semi-circular windows, the piano mobile contains three large rectangular, round headed windows which are framed with a keystone surrounded y five vigorous either side of it. Inside is an ‘aphasia hall with a three-bay arcaded vestibule and gallery above'2, the hall is lit nat urally by the semi-circular windows on the clerestory, the round headed windows in the gallery and by the large round headed windows in the hemispherical semi-dome apse. The interior is stunning with decorative Damascus style stockroom, by Michael Stapleton.The epicenter elegance of the incommoding which adorn the frieze and wrap around the interior, carrying garlands and scrolls, are delicately rendered and utterly beautiful. This ornament covers the panels of the elliptical groin-vaulted ceiling, along with roundels and husk-garland ovals. The hall also contains the Baldwin Monument of 1781 by Christopher Whetstones, a gilded Organ case by Lancelot Pease, 1684, and a gilt wooden chandelier. 3 The examination Hall follows the rule of three, or tripartite organization of classical architecture.The Temple front elevation combines the astrolabe/base, the portico/middle, and untreatable/roof. Within this combination, the column has a base, a shaft and a capital. The untreatable has an architrave, frieze and cornice. Considering the villas n northern Italy which were following the architecture of antiquity, the classical style, Villa Memo in Fanfold, Villa Escherichia, at Financially in Veneto, or the Villa Copra â€Å"La Rotunda† in Vaccine, which inspired thousands of buildings in Europe and further, all these examples have in common their inspiration, The Pantheon, in Rome.Andrea Palladian, who published his treatise â€Å"l Equator Libra Deliberateness's† in 1570, was the architect responsible for all these inspirational buildings. â€Å"In his early thirties, Paladin's talent was recognized by classical humanist scholar, Count Ignoring Transition, who introduced him to the study of architecture in Rome, focusing on the study of classics, and Vitreous principles of architecture strengthening his fluency in the classical architectural language, demonstrated by his sensible use of symmetry and classical orders in his work†4 2. Casey, C. (200 5) The Buildings of Ireland, Dublin (pig. 97) 3. Ibid. (pig. 397) Chaw,R and Alt,R (2012) Sir William Chambers, ( Treatise on Civic Architecture 1759), designed the 4. Examination Hall in 1785. Influenced by continental neoclassicism and the works of Vitreous, and Palladian, Chambers had already designed the Casino at Marino, built or the Earl of Charleston. The Examination Hall was built by Christopher Myers, (1777-1786). William Chambers influenced a small group of architects including James Agenda, who went on to finish the Four Courts, amongst many other civic buildings around Dublin, which was preceded by the Examination Hall. In conclusion, it is Justifiable to describe the Examination Hall in Trinity College as classical, since the architectural language used in the design and building of it comply with the classical principles set down in the works of Vitreous, Albert', Avignon and Palladian. The temple front elevation and fenestration treatment on the says are of the same s tyle as many of the Palladian villas built in the sass's, which in turn took the Pantheon and many other temples in Rome as their inspiration.The economic climate in Dublin in the 18th century mirrored the prolific wealth of Italy in the 16th century providing a fertile atmosphere for civic architecture. The reputation of the patron, architect and builder for supplying such civic magnificence was enhanced and profitable. The need for wealthy patrons and thriving governments to illustrate their success and status through the creation of majestic buildings lead directly to a reintroduction of the classical era.The Examination Hall was used as a public building, as a theatre and a forum for the many guilds in the city, its function was to facilitate these gatherings whilst communicating through the design and creation of majestic structures the affluent society that was Georgian Dublin. The Examination Hall has a restrained noble simplicity, free from ornamentation. It is defined and s olid, it occupies its space in a dignified grandiose manner, it appears level-headed, principled and steadfast. The roots of the Examination Hall belong firmly in the classicism which began with Vitreous and spanned Brucellosis, Albert', ND Donated.