The Color Purbple by Alice Walker - 870 Words

The Color Purple, by Alice Walker is a epistolary novel which portrays the struggles of African American women for independence, self esteem, and identity. The effect of racism and sexism on the black community, especially black women is expressed throughout the book. This novel is told through letters which chronologically goes through 30 years of Celie’s life in South America. The 91 letters written by both Celie and her sister Nettie awakens Celie where she gains a spiritual encouragement from Nettie, Sofia, and Shug. The Color Purple is the sisterhood of Celie, Nettie, Shug and Sofia which contributes a lot to Celie’s escape from slavery. Celie and Nettie have depended on their sisterhood for survival due to their fathers natural death and their mother’s weakness. Celie plays the role of Nettie’s parents especially the maternal role. Celie says â€Å"I’ll take care of you. With God help.† after her mother passes away and Mr. tries to rape Nettie (Walker. 3). When Nettie is around Celie, she feels a sense of comfort in the harsh world she lives in even though she hasn’t heard from her in years. Celie hopes that Nettie is still living and one day they will see one another again. Because Nettie and Celie have no contact after Mr. bans them from seeing one another God is the only thing she has to talk to. The friendship between Celie and Nettie helped Celie through the abuse from her husband. The letter writing between Celie and Nettie goes through a long period of absence

Artificial Intelligence in Missile Technology - 2928 Words

ARTIFICIAL INTELLIGENCE IN MISSILE TECHNOLOGY K.Manasa B-Tech III/IV Branch: EEE Shadan College of Engg Tech, Peerancheru, Hyderabad-08. konda_sowmya @yahoo.com Abstract: The development, strength, economy and progress depends on the status of the Defence, This paper deals with various generations of computer where the fifth generation computers use Artificial Intelligence. A few applications of Artificial Intelligence used in various technologies have also been discussed. The main focus of paper is on chaser missiles, which implements the missile technology using Artificial Intelligence. The Anupama processor designed in India can be used in chasers. This shows the development of Artificial Intelligence in Indian defence systems. The†¦show more content†¦The Turing test is a one-sided test. A machine that passes this test should certainly be considered as intelligent, irrespective of having knowledge about human. There are many adversaries about this fact, that an excellent discussion on the Turing test is not supportive, with restrictions on the observers knowledge of AI and the subject matter of questioning. It turns out that some people are easily misinterpreted that, a rather dumb program is intelligent. When we set out to design an AI program, we should attempt to specify as well as possible the criteria for success for that particular program functioning in its restricted domain. 4.1 Hardware for AI: In order to use AI in any system a few hardware specifications are required. The minimum requirements include a computing system containing an IC built processor, a control unit, memory devices, and a converter for external interfaces, floating-point unit, input-output ports and timers. These components work relatively with the computing system as per the AI oriented software. 4.2 Software for AI Software is the intelligence that runs the hardware in a computer. 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Risk Management Of Public Debt In Emerging Countries Finance Essay - Free Essay Example

Sample details Pages: 8 Words: 2441 Downloads: 3 Date added: 2017/06/26 Category Finance Essay Type Argumentative essay Did you like this example? Overall objective of public debt management is to reduce the countrys fiscal vulnerability by stabilizing the debt ratio dynamics at some desirable level (Melecky 2007). The traditional approach to public debt management analyzes debt sustainability in the absence of risk. The risk management approach, in contrast, shows that risk is minimized if a debt instrument provides insurance against variations in the primary budget and the debt ratio due to uncertainty about output and inflation (Bloomenstien 2005). Don’t waste time! Our writers will create an original "Risk Management Of Public Debt In Emerging Countries Finance Essay" essay for you Create order Risk management, which lies at the heart of government debt management, makes crucial link between the formulation and implementation of debt management strategies (Wheeler 2004). Importance of public debt risk management as appropriate tool of debt control was confirmed by financial crises from the nineties and especially the late 2000s recession, which leave many economies worldwide, both developed and emerging, with high budget deficits and public and external debts. Managing risks associated with sovereign debt is particularly challenging in emerging market economies compared to more advanced economies due to the volatility in the macro environment, as well as the complexity of the debt structure and the underdevelopment of financial markets, which make it harder to use more advanced risk management tools (Bloomenstein 2004). More specifically, particular issues of sovereign debt risk management in EMCs include: Lack of natural stabilizers. EMCs lack the natural stabilizing structural characteristics that allow the use of effective counter-cyclical policies (Garcia and Rigobon 2004). Inefficient government bond market. Emerging debt managers often face difficulties or impossibilities to borrow in nominal terms in the domestic currency in the long-run, which results in less options for fiscal adjustments and more dependency from captive lending agreements. This phenomenon is well-known as original sin (Eichengreen, Hausmann and Panizza 2002). Limitations to benefit from risk-sharing. Many emerging markets are not in the position to benefit from efficient international or domestic risk-sharing, neither to share a significant degree their risks with their creditors (Bloomenstein 2005). High risk of contingent liabilities. Emerging market economies faces high risk of contingent liabilities World Bank Study of public debt dynamics shows that the realization of (implicit and explicit) contingent liabilities contributes nearly 50% to the increase i n public debt in a sample of 21 emerging markets (Anderson 2004). 3. LITERATURE REVIEW Public debt management as the general framework of the public debt risk management has been rarely issue of academic analysis until last two decades, although it has been practiced as a part of economic policy for centuries. Early academic papers in this field were primarily dealing with debt management objectives. Tobin (1963) regard government debt management primarily as a tool for macroeconomic stabilisation, with minimisation of interest costs coming secondary. Baro (1979) recommended tax smoothing as government debt objective, claiming that, if there is a sharp rise in government expenditure during a recession, this should not be compensated with tax increases, but rather be absorbed by a temporary deterioration of the budget balance. Consideration of tax smoothing as debt management objective became first mainstream line of academic reasoning about public debt governance and open the discussion on the issue of optimal debt structure that should provide a hedge against mac roeconomic shocks to the government budget, that is, by choosing a portfolio of securities with returns that co-vary negatively with government consumption and positively with the tax base and, thus, output (Lucas and Stokey, 1983; Barro, 1995; Bohn, 1990; Missale, 1997). Licandro and Masoller (2000) provide analytical solution for the optimal debt structure. Due to the Stabilization and Growth Pact that was introduced to European Monetary Union, budget deficit of member countries has been limited to 3%, thus Missale (2000) set the analytical solution for the optimal debt structure stating budget deficit to GDP as objective function. In general, budget stabilization or tax smoothing approach provides important insights in decision making process in public debt management and emphasized importance of the correlation matrix between key macroeconomic variables like inflation, GDP growth and interest and exchange rates for the optimization of debt structure. However, tax smoothing ap proach as public debt management objective was criticized in terms of their practical accuracy. Alesina, Roubini and Cohen (1997) argue that debt managers ignore the budget stabilisation approach because budgetary policy is not driven by tax smoothing motives. They claim that governments put up with the welfare losses caused by tax rate fluctuations. De Haan and Wolswijk (2005) attribute the lack of practical application of the budget stabilisation approach to the fact that countries find it difficult to investigate how the various macroeconomic variables affect the debt costs and the balance. Furthermore, it is not known what shocks (demand or supply shocks) a country may expect. As a result, it is practically impossible to determine the right hedge for the budget balance in advance. Additional critics that could be addressed to this approach is that it says little about exposure of debt portfolio to risk and costs of debt. New mainstream line of academic reasoning has started a t the beginning of the century, when Sweden Debt Management Office (Bergstrom and Holmlund, 2000) introduced new approach to debt management that set minimization of debt costs an objective of public debt management and employs stochastic process modeling in order to capture stochastic nature of risk factors. Power to the rise of new approach was given by the International Monetary Fund and the World Bank, which Guidelines for the Public Debt Management, issued in 2001, states that the main objective of public debt management is to ensure that the governments financing needs and its payment obligations are met at the lowest possible cost over the medium to long run, consistent with a prudent degree of risk. In practical sense, it means that governments should look for such debt structure that minimize potential loss of adverse shocks and market movements by efficient management of the risks. Additionally, Guidelines clearly stated six types of the risk that governments should manage . Cost minimization approach was widely accepted by debt management authorities worldwide and included as public debt management objective in associated strategies (Wheeler, 2004, pp. 14-15). Correspondingly, large number of academic papers dealing with minimization of a government loss function based on numerical approach has emerged. According to Melecky (2007), recent numerical approaches can be broadly grouped regarding the indicators they produce: Cost at risk (CaR) approach. The main indicator of interest that concerns this group is the CaR measure, whereby cost is typically measured as a ratio to GDP. The standard parts of the simulation the CaR computation is a framework simulating the paths of the underlying economic financial variables which are modeled using usual approaches like term structure modeling of interest rates (Bodler 2002, 2003) or autoregressive modeling of stochastic variables (Bergstrom and Holmlund, 2000). Default probability based on specified go vernments debt-to-GDP default ratio. This approach again uses simulated paths of economic variables and the debt structure to compute the corresponding government debt-to-GDP ratios, but switch the focus from CaR computation to sustainability of debt, using different stochastic modeling approach like Vector Autoregression models (Garcia and Rigobon, 2004) or system of Brownian motion (Xu and Ghezzi, 2004). Default probability based on a distress barrier. This approach work with an explicit measure of sovereign credit risk derived from a contingent claim analysis (Gapen, Gray, Limand Xiao (2005), Gray, Merton and Bodie (2005)) The first comprehensive research that discusses issues of risk management of public debt was conducted by the Organization for the Economic Cooperation and Development (2005), comprising both theoretical advances in the area and debt management authorities practices. However, this research encompasses mostly industrialized countries, paying a little atten tion to the developing and EMCs. Issues of risk management of public debt in emerging market countries still remain insufficiently covered field, although it has been argued that there is significant difference between volatility of macro variables between developed and emerging economies (Bloomenstein and Santiso, 2007). 4. RESEARCH GOALS Structure and level of government portfolio is driven by the government borrowing requirements, which are results of the broader fiscal and monetary policy of the country. Once the borrowing requirements are determined, the question that arises is whether risk management tools, which have been broadly used by business financial institutions like commercial banks or investments fund, could be efficiently applied to the public debt portfolio in order to minimize its costs. The main issue of the thesis is to assess the efficiency of the risk management approach to the mitigation of risk of public debt and the predictability of public debt costs and government loss. Tools for measurement of risk exposure of the public debt are considered and compared in order to investigate whether they could capture complexity of macro environment in EMCs. Then, dynamic modeling of the government loss function is analyzed trough the simulation models to assess robustness of the loss paths to the ad verse market movements. Further, contribution of the risk management approach to the optimization of the debt structure toward insurance of long-term sustainability and identification of appropriate instruments that should be used to hedge risk exposures is investigated. The major research questions based on general research framework are: Which measurement of the risk exposure is more appropriate to use for the assessment of the public debt riskiness? Does risk management approach to public debt management lead to the efficient cost-risk optimization of public debt portfolio? Which types of risks are mostly mitigated by application of risk management approach? Is it possible to structure public debt portfolio to be robust against shocks of supply or demand or sharp changes in interest and exchange rates? Do financial derivatives contribute to the mitigation of public debt risks? The following working hypotheses, which could be amended or refuted in the research process, are derived from the research questions: Risk measure based on VaR approach efficiently capture market risk of government portfolio loss. Application of VaR approach to the dynamic modeling of government loss is more efficient than Vector Autoregression Model (VAR) approach in terms of explanatory power. Optimal structure of the public debt lies at the efficient frontier reflecting risk-cost trade-off. Interest rate, exchange rate and rollover risks are successfully mitigated by risk management tools. Mitigation of operational risks and contingent liability risks are not affected by risk management tools. Maturity of the debt is affected by use of the interest or currency swaps as hedge instruments. The analysis will contribute both to the academic and economic policy fields. Within the academic field, it will give deeper insight how correlations between key macroeconomic variables, original sin and limited choice of market instruments and limited use of the financial instruments affect the efficient applicability of risk management tools to public debt management. Further, it contributes to the public debt offices of the EMCs, which have recognized the importance of the introduction of more sophisticated tools for quantification of the public debt risk. 5. RESEARCH METHODOLOGY The research design follows the deductive approach, starting with the review of the existing theoretical and empirical work as a basis for the operationalization of the hypotheses. In the second stage of the research, hypotheses are empirically tested; nature of the research hypotheses does not require collecting of primary data, thus for the empirical testing only secondary data provided by the relevant financial institutions and statistical offices are considered. In the theoretical part of the research, two sources of literature will be primary used. First, key academic papers published in renowned journals such as Journal of Political Economy, American Economic Review or Journal of Monetary Economics, on the subject of public debt management are reviewed. However, due to the relatively recent origins of the academic, review of already published academic papers is accompanied with numerous working papers which are still under the consideration of the expert public. Second, as the field of public debt is inevitably connected with economic policy practice, large number of public debt strategies, reports and policy papers issued by countrys debt offices and international organizations like World Bank, International Monetary Fund, Organization for Economic Cooperation and Development and Bank for International Settlements is reviewed to complete theoretical and practical advances in the research field. The empirical part of the project starts with the descriptive analysis of secondary data on public debt and other macroeconomic parameters of EMCs. Relevant database will consists of monthly time series of necessary variables. Primarily source of the data will be International Monetary Fund and World Bank statistical data, accomplished with data of national banks and country statistical offices. The central part of the empirical research will be based on the regression analysis and Value-at-Risk analysis. Regarding the time horizons, analysis is longitu dinal, as it is imposed by the nature of the proposed analytical tools. The dependent variable which is modeled is cost of public debt as a measurement of government risk of loss. Independent variables include all macroeconomic variables grounded as relevant by the existing theory subjected to public debt management, as real GDP, public sector borrowing requirements, inflation, interest rates, country risk and exchange rates. In addition, Monte Carlo models are employed to simulate the dynamic of the debt costs, and back testing analysis is used to assess efficiency of the proposed model. Selected countries for the empirical analysis are Hungary, Poland and Czech which are widely recognized as the European EMCs by the world most prominent financial analytic entities. Focus of the empirical research on the only European countries, although practical in the term of data availability, diminish the power of generalization that is implied by deductive approach. However, the conclusion s of the research will be representative for the other emerging economies from the Central and Eastern Europe, regarding the similarity of transition character of their economies. 6. STRUCTURE OF THE THESIS Beside the introduction and conclusion chapters, Thesis consists of two parts, theoretical and empirical. Problem background, research framework and structure of the thesis are presented in the introduction. Theoretical part is divided in three chapters, each dealing with the critical review of the important findings of the existing literature. First chapter deals with the foundations of public debt management as general framework for the managing of the costs and risks of government finance. Second chapter defines risk management tools and discuss the role and various application of them within the public debt management framework. Third chapter analysis previously mentioned specific issues of public debt related to the EMCs. Empirical part consists of four chapters. First chapter gives cross-country analysis of the EMCs public debt risk management policy practices. Second chapter deals with the development of the hypothesis based on the overall literature review from the first part, supported with the findings for the investigated EMCs countries. Third chapter presents methodology, data and limitations of the research. Fourth chapter presents findings of the analysis in line with their critical discussion and implications. Conclusion part gives the comprehensive summary of the most important findings of the thesis and recommendations for the further research issues.

Analysis Of On Noise Essay - 1440 Words

On Noise, is a stoic piece composed by Seneca who was raised in Rome during the first century AD. On Noise explores an aspect of humanity that is surprisingly appropriate for our current times, how it is part of human nature to become distracted. Seneca explores the fascinating idea of how it is human nature to be distracted and that we must busy ourselves with tasks or succumb to the danger of being overcome by the distractions or the â€Å"noise† that surrounds us, he does through the extended metaphor of the obvious distractions of sound and by using the scenario of busy street in everyday life, for the sake of this essay we will take the definition of human nature to be â€Å"The general psychological characteristics, feelings and behavioural traits of human kind, regarded as shared by all humans†. 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Water Pollution Is The Contamination Of Water - 2181 Words

The topic for this final paper is water pollution, water pollution is the contamination of natural water bodies that contain many hazardous chemicals that can affect human health. This can have devastating consequences in the lower poorer countries around the world where there is no way for the people there to have access to fresh ,and clean water. That s why in this final essay it explains to the reader all of the hazardous ways you or your family could and even may be at risk for water pollution wherever you go around the world whether it has a unfiltered river system, or it has a proper filtration system and it somewhat fails and the people that work there does inform the public of the imminent dangers of all the unfiltered and unprocessed drinking or everyday use water. That is why this essay provides the reader an example of how Water Pollution can affect everyone globally, and how there are many health issues that goes with that issue , and how it can impact any country s economic status. For my first paragraph Water Pollution is a harmful thing if not careful, such as, â€Å" Water Pollution is the contamination of natural water bodies by contamination of natural water bodies by chemical,physical,radioactive, or pathogenic microbial substances†( C. Michael Hogan, PG:2 pg3/6).In this quote the author of this article is telling the audience that in the polluted waters in any river there could be any of these substances in the water that can possibly cause a very harmfulShow MoreRelatedThe Contamination Of Water Pollution1188 Words   |  5 PagesWater is a transparent, odorless, tasteless liquid which is a compound of hydrogen and oxygen. Consuming untreated water can lead to serious health issues. 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Contents [hide] †¢ 1 IntroductionRead MorePollution Is A Major Public Health Crisis1573 Words   |  7 PagesIntroduction Water, it is one of the most significant source to mankind and our planet. While it exists, so does everything else along. However, in today’s epidemic, there has been certain factors that have risen to awareness whether we can the water today is beneficial or not? In other words, the health risks against water contamination have risen in the past few decades; all from what you may ask? Well, it could be for various factors and perspectives; either environmental or materialistic. Pollution isRead MoreThe Issue of Marine Life Pollution1538 Words   |  6 Pagesï » ¿Essay: Marine Life Pollution Introduction: Pollution can be defined in different prospective including economics. The economics definition of pollution denotes pollutions as loss of environ quality. Furthermore it defines the cost of pollution as the cost of environmental loss (Goodstein, 2011). However the literary meanings of pollution are defined as the contamination of environment that can cause harmful effects on the inhabitants. These effects are particular with the environment and a numberRead MoreCauses And Remedies Of Water Pollution1596 Words   |  7 PagesCAUSES OF WATER POLLUTION AND EFFECTS AND REMEDIES ABSTRACT Water is one of the necessities for existence of mankind. It is also one of the most abundantly available resources. But indifference of mankind and its abuse of the plentiful resource made water scarcity a problem for many nations around the globe. Water pollution is one major problem that demands utmost attention to deal with emerging water crisis. This paper is an attempt to describe various causes and remedies for water pollution. INTRODUCTIONRead MoreSolution Of Water Pollution1036 Words   |  5 Pagessurface has been covered by water, and less than a third is taken up by land. Water pollution has increased dramatically affecting our food system including, drinking water, and our environment.Water pollution is generally caused by human activities but may also be caused by natural resources. Before the 19th century Industrial Revolution, people in the industrialized environment believed that the oceans were too big to be polluted, so the problem of the water pollution has dragged along with it.Read MoreThe Effects Of Pollution On The Environment And Ecosystem968 Words   |  4 PagesPollution The air we breathe, the water we drink, the ground where we grow our food, is polluted with harmful things. Pollution is the introduction of harmful or poisonous effects of a substance into the environment. It disrupts the balance of people’s lifestyle when they are contaminate. Pollution balance in the environment and ecosystem. The environment is in the process of becoming unsafe or unsuitable to use. Pollution can come in many different form, such as air, water, soil can have pollutantRead MorePollution And Its Effects On The Environment1509 Words   |  7 PagesPollution happens when chemicals and other outside substances leech into the ground, air and water. These pollutants contain poisons that adversely affect environments and the living animals inside of them. Although natural well being and security gatherings work to build attention to the threat contamination presents, if contamination proceeds at its present rate, the future impacts could crush to human populaces and the earth. .Air pollution is a gas (or a liquid or solid dispersed through ordinaryRead MoreThe Chemical Substances That Exist Within The Flint River1490 Words   |  6 PagesFlint Michigan Water From what you now know about the Flint, Michigan water crisis, write a minimum of 2 paragraphs capturing the following information: Could the resultant qualitative and quantitative properties of the polluted water have been predicted with chemistry? [2] The resultant qualitative and quantitative properties of the polluted water could have been predicted with chemistry. The possibility of lead entering the water system could have been anticipated from the chemical substancesRead MoreThe Effects Of Pollutants On The Worst Drinking Water873 Words   |  4 Pagesworst drinking water? Unfortunately, let me tell yes that Houston occurs the fourth place of the ten cities with drinking water issue after Pensacola, Riverside (California), Las Vegas, Riverside County (California), and Reno. Houston is the fourth large cities of the United States. It drains many water sources such as the Trinity River, the San Jacinto Rivers and Lake Houston. These water sources provide the drinking water that we use throughout the city. The quality of this water tested by Texas

Particular Elements Of Leadership Attained â€Myassignmenthelp.Com

Question: Discuss About The Particular Elements Of Leadership Attained? Answer: Introduction Leadership is a necessity for human success. All aspects of human life require particular elements of leadership to be attained. Despite its popularity, leadership remains a contentious topic to many people. In fact, the real meaning of leadership differs significantly from how many people perceive it. Precisely, I was among the many who did not have a precise comprehension of what leadership entails. However, after undertaking my studies throughout this semester, my perception on what leadership involves have significantly progressed. This reflection exhibits my knowledge development on leadership throughout the semester. It captures my prior understanding of leadership and illustrates how this view has been altered and enhanced by the semester content. Furthermore, the reflection outlines how studies on leadership have impacted on my life and points areas where I need to improve. With the world becoming globalized, it is vital to possess the appropriate leadership competencies. Alt hough the course lasted only of one semester, its contents significantly changed my marketing on leadership and its importance in the society. Reflection Initially, I thought that the term leadership is directly related to authority and power. In fact, I defined a leader an individual who uses coercive means to impose their will on others. I held that leaders are people who hold administrative positions in the society. In this respect, I understood leadership as the ability to impose persons will on their subjects. Furthermore, I believed that leadership is authoritative and cannot be questioned. Out of this view, I assumed that a leader is an individual who is there to be served by others. However, after interacting with course resources, my understanding of leadership and its fundamental elements changed. According to Bertocci (2009), leadership is the combination of attributes or personality traits in an individual that compels them to motivate others to achieve a specific goal. This revelation is completely different from my prior understanding. As the course progressed, I made several deductions on what leadership and a leader entail. Firstly, a leader is an individual who inspires other to achieve a goal. Leadership is about inspiring and motivating other regardless of your position. In this view, everyone one can be a leader in different capacities. For instance, in an organization, even a lowly ranked employee can serve as a leader through their actions. This insight refutes my earlier assumption that only those in high positions in organizations serve as leaders. Secondly, I discovered that leaders are agents of change. For one to be a leader, they must devise new ways of thinking and handling issues. According to Fairhurst and Connaughton (2014), leaders are persons whose actions affect other people more than other peoples acts affect them. The efficiency of influencing others emanates from the increased level of commitment that leader have to initiate change. From this argument, I realized that leadership requires dedication and handwork. In fact, this premise refutes my earlier proposition that leaders exist to be served. Instead, leaders exist to serve and cater to the needs of others. As a leader, one must take up certain obligations to justify their status. Consequently, this opinion illustrates that leadership is not easy as it appears on literature. Importantly, the concept of servant-leadership further elaborates that leaders are not there to give instructions. Instead, it insists that leaders exist to lead the way and inspire other to follow their actions. The concept of servant-leadership posits that all leaders are servants(Northouse, 2012). The servant-leadership concept argument enlightened me that leadership is not all about the use of coercive force and demand for results while sitting in an office. Instead, leaders should lead by example. Moreover, the concept insists that leadership should not be used as a tool for creating class division between the leaders and their servants. In contrast, leadership exists to optimize the interaction between individuals in the society. In this respect, I learned that leaders should be role models to the community. This view implies that leaders should identify with hardships that others are experiencing. Moreover, the course also educated me that leaders influence the motivation of team members through non-coercive means. This understanding transformed my previous perceptions that leaders are authoritative and cannot be challenged. Although leaders command some degree of authority due to their position, this power should not be used to impose ones will on others. In the modern business world, people fear their leader because of the powers invested in them by their organization. However, effective leaders should psychologically utilize these powers to motivate others in goal achievement. Over the years, I struggled to make clear distinctions between leadership and management. In fact, I believed that there is no difference between a manager and a leader. My previous opinions were greatly influenced by the structure of the modern market environment. The way the present society operates, it is difficult to make clear distinctions between a manager and a leader. These two terms are used interchangeably to refer to those who hold a high position in organizations. However, after scrutinizing the semester materials, I realized that significant differences exist between leadership and management. The main difference between these two is that management focuses on planning, organizing, and coordination of activities while leadership emphasizes on inspiring and motivating (Kotter,2008). Out of these key distinctions, I deducted the difference between a leader and a manager. A leader inspires and motivates people to follow them while a manager has individuals working for them. Throughout history, there have been heated debates on whether leaders are made or born. Early scholars like Thomas Carlyle contended that leaders are born. They even went forth to devise frameworks like the great man and trait theories to support their opinion. Before interaction with the course materials, I also held the view that leaders are born. In fact, I backed up my opinion by outlining that renowned leaders possessed certain unique attributes. However, after reading several modern leadership theories from the course materials, I realized that leaders could also be made. According to Dav (2000), leaders one can become a leader by acquiring certain competencies through training. Through training, one can acquire leadership competencies like effective communication, team work, conflict management and decision-making. This view implies that it possible for one to be a leader even if they hail from a family that has not produced renowned leaders in the past. In the contemporary business environment, leaders are defined by the success of their organizations. With clear distinctions lacking between management and leadership in the present society, people have used profitability of firms a yardstick to measure a leaders success. However, I acquired y essential points from the course materials which changed my view on leadership success debate. I learned that there is a direct relationship between leadership success and organizational culture. According to Baumgartner (2009), an organizations culture can limit the effectiveness of a leader. For instance, an organization that lacks a transformative culture can hinder the ability of a leader to initiate change. As an aspiring leader, I learned that it is vital to scrutinize the culture of an organization before joining it. Moreover, I gained insight that leadership is not gendered. In the past years, there have been misconceptions that women cannot make effective leaders. In fact, I also doubted women's ability to lead. My doubts emanated from the reality that majority of popular leaders are men. However, Burke and Collins (2001) disproves such assumptions and assert that any gender can produce leaders. In fact, the economics of successful female leaders like Mary Barra of General Motors confirms the view of Burke and Collins (2001) on the ability of women to lead. This view has made believe that anyone can be a leader when given a chance. In future, I will advocate for equality in leadership positions in my organization. I have realized that it is wrong to presume that men are better leaders than women or vice versa. The learning materials have also exposed me to the essential leadership competencies. Initially, these concepts were not clear. However, as the course progressed they become precise and clear. At the initial stages, the course addressed general features of leadership. But as time progressed and the instructor focused on the specifics, the concepts become apparent. The key leadership competencies like communication, integrity, decision-making and conflict resolution strategies learned throughout course will enable me to develop the essential employability skills. Currently, organizations want employees who are leaders. With these competencies in mind, I can utilize them for employment purposes and personal development. Importantly, I have learned that a leader cannot thrive without ethics. According to Trevino, Hartman, and Brown (2000), ethical leaders make decisions that respect the integrity and dignity of others. Moreover, they insist on being fair, considerate, and honest. As a result, I learned that leadership entail not only motivating or inspiring people, but also being concerned about their welfare. The arguments on ethical leadership inspired me to revisit my decision-making skills. Furthermore, it made me understand why some leaders are successful while other are not. As a future leader, the ethical leadership theories challenged me always to consider the interests of others in every situation. In fact, it made me realize that leadership is about the welfare of the society not of the leader. However, I have to make several improvements to be an effective leader. Leadership calls for an individual to have excellent and effective communication skills. Without effective communication skills, a leader cannot motivate or inspire others. Despite having good communication skills, I struggle when it comes to public speaking. To enhance my public communication skills, I need to engage in group activities actively. Actions like group discussions provide an exceptional environment for individuals to develop appropriate interpersonal communication skills and courage. Additionally, I need to learn more on cross-cultural leadership. Currently, globalization has eliminated cultural barriers in leadership. People now talk about leadership in a global context. In a global environment, a leader interacts with individuals from diverse cultural backgrounds. Bertocci (2009) notes that the world is not static so is leadership. Leadership evolves with time. In the future, leaders will be required to possess exceptional multi-cultural leadership competencies. Consequently, I must expose myself to the various significant global cultural issues that impact on leadership. This goal requires me to interact with people from different cultures and studies on multicultural leadership. Leadership is practical. Reading loads of leadership materials will be in vain if the skills acquired are not exercised. In this respect, I will actively engage in leadership actions at different capacities. Taking leadership positions will enable me to experience the challenges that leaders endure in their daily activities. As Bertocci (2009) points out, leaders interact with people with differing interests. Moreover, these people hail from different backgrounds. Dealing with different people makes leadership a complex affair which requires experience. Apart from gaining leadership insights, participating in leadership roles will provide me sufficient feedback on my abilities and drawbacks. Obtaining frequent feedbacks will empower me to work objectively to improve my shortcomings. Additionally, I will consistently interact with various leaders to gain awareness on how they operate. I believe that the amalgamation of these interactions with what I have learned during this semester w ill assist me to improve my leadership abilities. With the course material confirming the leadership can be nurtured, I will work hard to attain the vital leadership competencies. Conclusion The semester materials have equipped me with sufficient insights on leadership and its vital elements. Throughout the term, my understanding of leadership has significantly improved. Particularly, I have been able to differentiate leadership from management. Moreover, I have understood the key competencies required for effective leadership. The various leadership theories covered in the semester have enriched my comprehension on the evolution of leadership and how it relates to the changes in the society. However, the course has also challenged me to improve by leadership aptitudes. Specifically, I need to improve my communication efficiency and insight on the leadership environment. To attain these goals, I will actively participate in leadership roles, network with various leaders, and read literature on leadership. In summary, the semester materials have significantly changed my perceptions on leadersh References Baumgartner, R. (2009). Organizational culture and leadership: Preconditions for the development of a sustainable corporation. Sustainable business Development, 17(2), 102-113. Bertocci, D. I. (2009). Leadership in Organizations: There is a Difference Between Leaders and Managers. New York: University Press of America. Burke, S., Collins, K. M. (2001). Gender differences in leadership styles and management skills. Women in Management Review, 16(5), 244-256. Day, D. (2000). Leadership development: A review in context. Leadership Quarterly, 11, 581-613. Fairhurst, G. T., Connaughton, S. L. (2014). A communicative perspective. accounting, 10(1), 7-35. Kotter, J. P. (2008). Force For Change: How Leadership Differs from Management. New York: The Free Press. Northouse, P. G. (2012). Leadership: Theory and Practice (6th ed.). London: SAGE Publications. Trevino, L. K., Hartman, L. P., Brown, M. (2000). Moral person and moral manager: how executives develop a reputation for ethical leadership. California Management Review, 42(4), 128-142.

Selection Methods CERA

Question: Discuss about the Selection Methods CERA. Answer: Introduction The study will describe the advantages of two selection methods CERA will implement in their recruitment process that will focus on the representation of the aboriginal people in the workforce. The two selection methods chosen for the designation of the financial controller position in CERA are Psychometric test and structured and skilful interviews. Two methods of selection CERA has created many opportunities on behalf of the employees of the company and for the community they are operating. The company endeavour in discriminating based on skills and expertise and the organization is recognized as the diverse workforce. Diverse workforce will represent each section of the community including the Aboriginals. The company maintains the goal of opportunity for all that includes new methods of selection while representing the aboriginals specifically. The advantages of two methods of selection i.e. psychometric test and skilful and structured interviews in the light of financial controller position in CERA are discussed below. Psychometric Testing: In the selection method of financial controller position in CERA, psychometric testing is an important method of selection for the preferred designation. CERA will use a series of test in order to rest the character and attributes of the candidates. The series of test will include subjects like personality profiling, aptitude testing and ability testing. The advantage of this test is to intimidate few candidates that are proven great in terms of compatibility with the other employees associated with the organization especially in the financial department (Koskan et al., 2013). As a financial controller, the candidate will have to communicate with the employees of other departments as well, hence the nature of the candidates needs to be known by the company before hiring in the required job field. Apart from that, it will help CERA in including Aboriginal people in the company for achieving the goal of opportunity for all not only by the human resource department of the company but al so by the strategic department of the company (Armstrong Taylor, 2014). Skilled and structured Interview: Another selection method is the structured and skilled interviews. In this technique, the interviewer usually asks questions to the interviewee related to the past events of the previous job. The candidate has to solve the problem by his experiences in the job of financial controller (Townley, 2014). However, the interviewer will ask discretionary probing questions in order to handle the artificial situation created by the interviewer more efficiently. This type of interview can be also known as situational and behavioural interviews as it will help CERA in judging the candidate in terms of behaviour during critical situations. In addition, temporary situations are created in the interview so it is also termed as situational interview (Shackleton, 2015). Conclusion It can be concluded that the two selection methods of skilful and structured interviews and psychometric tests are applicable for CERA in terms of including aboriginal representation in the company. The advantages along with the problems of these methods are discussed in the study so that CERA can customize the methods of selection according to the requirements. References Armstrong, M., Taylor, S. (2014).Armstrong's handbook of human resource management practice. Kogan Page Publishers. Koskan, A. M., Hilfinger Messias, D. K., Friedman, D. B., Brandt, H. M., Walsemann, K. M. (2013). Program planners' perspectives of promotora roles, recruitment, and selection.Ethnicity health,18(3), 262-279. Shackleton, V. (2015). Recruitment and selection. Elements of Applied Psychology. Townley, B. (2014). Selection and appraisal: reconstituting.New Perspectives on Human Resource Management (Routledge Revivals).