How To Write A Critical Analysis Essay Step-By-Step Guide - Paperell

How To Write A Critical Analysis Essay Step-By-Step Guide How to Write a Critical Analysis Essay: Step-by-Step Guide What Is A Critical Analysis Essay?This type of essay lets you apply your analytical skills and critical thinking. Your goal is to examine an article, a book, or other work by another person – you do it to determine how effectively its author make an argument or point. Even though many college students think that the word â€Å"critical† is always connected with a wrong impression, critique can also be positive. It depends on your position about the examined piece.How to Make a Critical EssayTo create such an essay, you need to be familiar with other similar works and examples. If you have never read classical literature, you shouldn’t work on a critical paper about a piece of modern writing. You should read the full text of an examined book. If you judge it only by first pages or even small fragments taken out of context, it wouldn’t be a correct way to criticize. Also if this piece is huge, you need to spend time reading it. The goal is to examine the eff ectiveness of a specific article, book, painting, film, or other work created by another person. To do it, you need to understand the objective of an author and also their background. There are many other tips to make the process easier. Many young people are unsure how to write a critical analysis essay merely because they have never faced the need to write it earlier and lack experience with this type of assignment. Here, we will tell you how to write a critical analysis essay step by step, starting from choosing good topics and up to logically arranging your text.How To Start A Critical Analysis Essay?Many students wonder how to write an introduction for a critical analysis essay. It’s not difficult, and it can be similar to an opening for other types of essays – you will need to provide your thesis statement, provide information on your objectives and research methods, tell readers what can they get from your paper, and describe why this paper is significant and ho w did you come to writing it.You need to read not only the examined piece but also the background information on it. Provide facts about other works by this author, where and how he or she lived and what ideas popularized. It lets you understand the point of view of the author, their objectives for writing, and the background that ties this work with other works written earlier and influenced this book. Take note of the main ideas from the text. Consider are they presented effectively and will readers understand them clearly. Determine if an author reached the goal and convinced readers that the given point of view is right.When reading a piece of writing, do it critically. Examine the style and technique, how impressive is the book for readers, it is still relevant for readers, or its ideas are too old. It will help you to examine the text and proceed to create an outline.Critical Analysis Essay OutlineThe main three parts of an outline are the Background, Summary, and Interpretati on. You can extend these sections or add more elements to your essay if needed. You should also present your essay in the usual format with an introduction, the main body, and the conclusion.BackgroundTo understand the purpose and meaning of a book, you need to provide background information on it. How to do it? Describe the historical context of this book, information about the author and his or her ideas, what is the title of the book and when it was published. In the thesis statement, you can indicate your reaction to this work. Write several sentences about your impression after reading; it should be presented briefly because you will explain it with more details in the Summary and Interpretation sections.SummaryIt is a fundamental part of the critical analysis. You should create the main content of your analytical essay, by analyzing how effectively ideas are presented in the book.InterpretationThere you write your understanding of this book. It will be subjective and based on your experience. Discuss how the book is organized, the style of writing, its effectiveness, the treatment of the topic, and how it appeals to people who read it.Practical Tips On Writing A Critical Analysis EssayLook through other referencesMany books contain a lot of references to other works. What does it mean? You should find and analyze them to understand the objectives of an author better and provide a more detailed background. When you know these references, you can change your opinion on this book.Consider sources surroundingStudy when the historical background of writing this book. Social and political circumstances could affect their writing and knowledge of these circumstances is crucial for understanding the ideas of an author and his or her objectives.Check other reviewsIf there are any reviews on this book, read them. They let you look at the book from another point of view and understand things that you haven’t noticed before. However, you should realize that e ach review is subjective.Compare to similar writingsResearch other similar books of that period. Examine if an author copies the style of other writers or present their own story with the original form of writing. It helps you determine how original is this book.If you don’t have time for writing such an essay, you can order a custom essay online from professional writers. They know how to criticize books correctly and write a paper for you.

6 Steps for Self-Discipline When You Study

6 Steps for Self-Discipline When You Study Have you ever heard the quote, Self-discipline is the difference between choosing what you want now and choosing what you want most? Its a quote that tons of people in the business world follow religiously in order to get exactly what they most desire from their companies. Its a theory that many people use to get themselves out of bed to get to the gym before going to work. Its a mantra that athletes use to do that last set of squats, even though their legs are burning and they want nothing more than to quit. But its message of endurance and self-denial is perfect for those students looking to gain an edge on their competition by acing the ACT in order to get into the college or university of their dreams or those students who simply want to score their highest on their midterm or final exams.   Why Self-Discipline Is Important According to Merriam-Webster, the definition of self-discipline is the  correction or regulation of oneself for the sake of improvement. This definition implies that certain regulation or stopping of ourselves from certain behaviors is important if we are going to improve in some way. If we are relating this to studying, it means that we need to stop doing certain things or start doing certain things while studying in order to get the positive results we crave. Regulating ourselves in this way is incredibly important because it can build self-esteem. When we achieve the goals we set for ourselves, we get a boost of confidence which can improve many aspects of our lives. How to Have Self-Discipline When You Study Step 1: Remove Temptations Self-discipline is the easiest when things that distract you from your studies are out of sight, out of earshot, and out the window, if necessary. If you find yourself tempted by external distractions like your cell phone, then by all means, turn the thing completely off. Nothing is going to happen in the 45 minutes that you are going to sit down to study (more on that in a minute) that cannot wait until you have a scheduled break. Also, take the time to remove the clutter from your study area if clutter makes you crazy. Unpaid bills, notes to yourself of things you need to accomplish, letters or even pictures can pull your focus off your studies and into places it does not belong when you are trying to learn how to write a stellar essay for the Enhanced ACT test. Step 2: Eat Brain Food Before You Begin Studies have shown that when we are  exercising willpower (another word for self-discipline), our  mental energy tanks slowly get  emptied. Forcing ourselves to give up what we want in the now for what we want later physically zaps our reserves of glucose, which is the brains favorite fuel. This is why  when we are sitting diligently ignoring our cell phones and pushing back our need  to check Instagram, we are more likely to head to the pantry for a chocolate chip cookie than we would be if we were not practicing self-discipline at all. So, before we ever sit down to study, we need to be sure to indulge in some brain foods like scrambled eggs, a little bit of dark chocolate, maybe even a jolt of caffeine to make sure that our glucose is steady enough to NOT drive us away from the learning were trying to do. Step 3: Do Away With Perfect Timing There is never a perfect time to begin studying for your test. The more time you give yourself the better off you will be, but if you sit around and wait for the  perfect  moment to start studying, you will be waiting for the rest of your  life. There will  always  be something more important than reviewing the SAT Mathematics test questions. Your friends will beg you to go out to the movies to see the final showing of the seasons top film. Your family members will need to be driven on errands or your parents will need you to finish cleaning your room. If you wait until everything is just right- when everything else is accomplished and you feel  great  - you will never find the time to study. Step 4: Ask Yourself If I Had to, Could I? Imagine that you are sitting at your desk. Behind you is an intruder with a weapon pointed at your head. If the only thing between life and saying goodbye to the world as you know it was studying for the next several hours (with scheduled breaks), could you do it? Of course, you could!  Nothing in the world would mean more than your life at that moment. So, if you could do it then- drop everything and give studying everything you have in you- then you can do it in the safety of your own bedroom or library when the stakes arent quite that high. Its all about mental strength. Give yourself a pep-talk. Tell yourself, I have to do this. Everything depends on it. Sometimes, imagining a real life-death scenario works when youre staring at 37 pages of differential equations. Step 4: Give Yourself a Break And by giving yourself a break, we definitely dont mean abandoning all self-discipline and settling down in front of the TV. Schedule mini-breaks into your study session strategically. Set a watch or timer (not the phone - thats turned off) for 45 minutes. Then, force yourself to study for those 45 minutes, making sure that nothing interferes with your work. Then, at 45 minutes, take a scheduled 5- to 7-minute break. Use the bathroom, stretch your legs, grab some brain food, reorganize, and get back at it when the break is over. Step 5: Give Yourself Rewards Sometimes the answer to being self-disciplined lies in the quality of the reward you give yourself for exercising willpower. For many people, the practice of self-discipline is a reward in and of itself. For others, especially those who are just trying to learn to have some willpower when studying, you will need something a little more tangible. So, set up a reward system. Set your timer. Practice studying for that final  for 20 minutes with no interruptions. If youve made it that far, then give yourself a point. Then, after a short break, do it again. If you make it another 20 minutes, give yourself another point. Once youve accumulated three points- you have managed to study for a full hour without surrendering to distractions- you get your reward. Perhaps its a Starbucks latte, one episode of Seinfeld, or even just the luxury of getting onto social media for a few minutes. Make the reward worth it and withhold the reward until youve met your goal! Step 6: Start Small Self-discipline is not a natural thing. Sure. Some people are more self-disciplined than others. They have the rare ability to say no to themselves when they want to say yes. What you need to remember, however, is that self-discipline is a learned skill. Just like the ability to make a perfect free-throw with a high percentage of accuracy  only comes after hours and hours on the court, self-discipline comes from the repeated exercise of willpower. Dr. Anders Ericsson, a Florida State University psychologist says that it takes 10,000 hours to become an expert at something, but â€Å"You don’t get benefits from mechanical repetition, but by adjusting your execution over and over to get closer to your goal. You have to tweak the system by pushing,† he adds, â€Å"allowing for more errors at first as you increase your limits.† So, if you truly want to become an expert at having self-discipline while studying, you not only have to practice the skill, you have to start small, especially if you repeatedly give in to what you want now instead of waiting for what you want most. Start by forcing yourself to study (I have to style) for just 10 straight minutes with 5-minute breaks in between. Then, once that becomes relatively easy, shoot for fifteen minutes. Keep increasing the time you manage self-discipline until you are able to focus for the full 45 minutes. Then, reward yourself with something and get back at it.

Adaptive Portfolio Management using Evolutionary Algorithm Essay

Adaptive Portfolio Management using Evolutionary Algorithm - Essay Example Introduction: Portfolio management is the process of managing assets i.e. stocks, bonds, etc., such that a large return with a low risk is obtained. Forecasting price movements in financial markets is an important part of constructing portfolios. Most traders believe that the financial markets are not fully efficient and that there exist temporary predictability, which could be exploited for collecting excess returns above the market average [1]. Consequently, many financial institutions have developed decision support systems to help traders and analysts make decisions about portfolio management more quickly and more effectively. Technical indicators use statistics to determine trends in security prices and are often used by financial markets and private traders to assist with portfolio management. A survey of foreign exchange traders in London [2] estimates that up to 90% of traders use some form of technical indicators and trading rules in their daily trading. Technical indicators assume that securities move according to trends and patterns that are continued over a short periods of time until another trend is triggered by the change in the market condition. The success of technical indicators depends on how one interprets the signals. Expert human traders are capable of combining several technical indicators and trading rules to arrive at composite strategies which are used in portfolio selection, execution and risk management. The process of arriving at such strategies requires high experience, expertise and often long and tidies hours of observation of historical and current market data to test and fine-tune different combinations of technical indicators and trading rules. Although there are agreements that financial markets do sometimes show periods where certain trading rules work [3], it is very hard to find evidence that a single trading strategy can function over an extended period of time. This can be due to the fact that financial markets are const antly evolving, and that when a trading rule is found to work it would not take long before it is exploited until it no longer harvests a significant profit. This forces the traders and technical analyst to constantly create new strategies or retune the existing strategies so that they would work under the new market conditions. The goal of my research would be to create a system that emulates human behaviour in combining a set of simple rules and technical indicators to create sophisticated trading strategies. The system then would constantly evolve those strategies or creating new strategies that would adapt to changing market conditions. 2. Motivation: In the past several years, there has been a notable increase in the use of financial modeling and optimization tools such as algorithmic trading and automated portfolio management in financial industries. In addition to the pressure on asset management firms to reduce costs and maintain a more stable and predictable performance in the aftermath of the downturn in the world’s markets in recent years, three other general trends have contributed to this increase. First, there has been an increase of interest in predictive models for asset returns. Predictive models assume that it is possible to make conditional forecasts of future returns—an objective that was previously considered not achievable by classical financial theory. Second, the wide availability of sophisticated and specialized software packages has enabled generating and exploiting

(SAVE OUR STUDENTS) SCHOLARSHIP PERSONAL STATEMENT

(SAVE OUR STUDENTS) SCHOLARSHIP - Personal Statement Example As we all know, health insurance will cover only a partial amount of medical needs, and since my mother fell ill we have seen the medical bills pile up faster than expected. Our out of pocket costs were larger than my father could have ever imagined, and he was forced to dip into my college fund to cover the amount of money needed to help lower my mothers medical expenditures. This situation was not something that could have totally depleted my college fund though. Another event happened that has finally pushed my familys finances over the edge. In what can only be called a double whammy of bad luck, my father has been injured at work. This work-related injury has sidelined him from the workforce and has depleted our family savings in the process. Needless to say, my parents’ medical needs take priority over my college education. So it comes as no surprise that my college fund went from helping keep me in the college to helping keep food on the table and bill collectors at bay. At this crucial stage of my health science educational career, it is imperative that I stay in school. I am only a number of units shy of graduating from my chosen major, which I hope to parlay for a nursing education in 2013. However, I can afford to pay for my school fees this coming school year only if I manage to obtain some financial aid. Due to the situation of my parents, I am not in a position to look for a full-time job that will allow me to attend college on my days off. These days, I help augment the family income by working on a part-time basis as a cashier and delivery person. Part-time jobs will not help me pay for my college bills and the needs of my family. That is why I have chosen to become pro-active and to apply for financial aid and scholarships whenever possible. My grades in schools are pretty decent. I have been able to keep up my grade point average despite the situation that I find myself in at home. I managed to

Factors Affecting Essay Example for Free

Factors Affecting Essay This paper examines the factors affecting students career choice of accounting in Nigerian university. The study was conducted using the survey with a sampling population of 300 undergraduates from three universities. It has been discovered that the factors affecting students career choice of accounting are numerous but they can be group into personal, reference and job factors. The findings indicate that personal and job factors such as students interest and motivation in the subject, job prospects and high pay, performance in secondary school are the most influencing factors of students choice of accounting. In particular, male students were found to be more influenced by the reference factors than their female counterparts in the choice of accounting. The paper recommends the need for enlightenment  and counseling of the students and their wards about career choice in accounting.. Keywords: Accounting, personal factors, job-related factors, choice 1. Introduction In recent years, the declining of accounting students has become a major concern to the accounting profession (Hunt, Falgiani Intrieri, 2004). For instance, in the US the decline has been attributed to many factors such as: change in the business environment, decrease in salary level, alternative careers perceived as more attractive to students, misunderstanding and lack of information related to the accounting career (Albrecht Sack,2000). In Nigeria, the choice of accounting tends to rank among other professional courses like law, medicine, engineering ,economics etc. Although many researchers have considered the factors affecting students career choice in accounting, there is dearth of researches in relation to accounting in Nigeria. Therefore, the purpose of this paper is to examine the factors which influence students choice of accounting in Nigerian universities and determine whether there are significant differences between male and female accounting students in the choice of accounting. The rest of the paper is organized as follows: Section two reviews the relevant literature on the factors.Section three is the methodology adopted. The data analysis and research findings are documented in Section four and the overall conclusions regarding these results are presented in Section five. 2. Literature review There have been many researches carried out in both developing and developing countries to identify factors influencing students choice of accounting. Some of the factors considered were subjective factors such are social, cultural, sociological, psychological and personal factors. Others are the objective factors or both categories (Zhang, 2006). Factors frequently cited as determinants of students career choice are intrinsic values, financial rewards, job market and the cost-benefit. Some of these factors are long term salary possibilities, prestige of the profession, job security and starting salary. It has been found that students consider stereotype about the different careers when making their decisions .Yayla   Cengiz (2005) find respondents own choice, family, environment, interesting profession, earnings  expectations and job opportunities play a significant role in choosing an accounting career. These factors are grouped into personal, reference or and job related factors and considered in subsequent sections. 2.1 Personal Factors Many researchers have identified that the choice of accounting is influenced by the stud ents interest. For instance, Zhang (2006) finds students interest in the subject and ability very important in making choice to study accounting. Other factors like quantitative skills and intellectually challenging also influence students choices (Mladenovic,2000, Zhang, 2006).When students see accounting as interesting and enjoyable, they are more likely to choose it (Saemann Calero, 1999., Adam et al 1994., Mauldin et al, 2000).This finding was supported by results of Jackling Calero (2006) where intrinsic rewards such as enjoyment of the topics in accounting influence career in accounting. Kaur Leen (2006) establish that students choices of major is influenced by factors such as gender, race, quantitative skills, interest in the subject, expected marketability, performance in major classes, the approachability and teaching reputation of faculty member. Cohen Hanno (1993) conduct a survey of 287 students who had either declared or intended to declare themselves as accounting majors and those who had either declared or intended to declare themselves as major in a field other than accounting. The results indicated that non-accounting majors may choose accounting because they believe accounting to be too number-oriented and boring. 2.2 Reference Group Previous studies confirmed that referent group such as: parents, parents occupation, instructors in high school and friends could influence students  choice of major (Pimpa, 2007, Kim et al, 2002, Paolilo Estes 1982, Geiger Ogibly 2000, Mauldin et al, 2000, Kim et al,2002). Family plays a critical role in a childs career development (Guerra Braungart-Rieker, 1999). High school teachers and college instructors play a significant role in students final choice of business major. However, Hardin et al (2000) find high school educators to have a relatively low opinion of accounting as a career option for high school students.Similarly, parents and instructors had a strong influence on students choice of majors (Inman et al, 1989, Mauldin et al, 2000., Tan Laswad, 2006). Mauldin et al (2000) investigate the choices of accounting major and find the largest percentage of students who chose accounting as their major during the first accounting course in college (41%) followed by selection during high school (34%).They also find twelve factors that influence the students decisions to include: career opportunities, interest in the subject, instructors, money, parents, enjoyments, previous experience, life style opportunity because of the career, challenge, prestige, usefulness in rating a business and other students. Among referents, the instructor was found to be the most influential factor. 2.3 Job Related Factors Job attributes are the most important factors that influence the choice of career among undergraduates. The job related include: the job itself, compensation or security and the company or work environment (Moy Lee, 2002, Teo Poon (1994). The influencing factors are job satisfaction (Paolilo Estes,1982), higher earnings, prestige and career advancement (Kim,et al, 2002). Lowe Simons (1997) study the relative importance of 13 factors influencing the choice of business major. They find that the most important criteria influencing the choice of major business students are: future earnings, career options, initial earnings and ability/aptitude. Moreover, they find distinguishable differences among majors. For example, accounting students were influenced by external factors such as: long term earnings, initial earnings and career options whereas marketing majors highlighted interesting subject matter and management majors rated self employment opportunities highly. These findings support the results that students choice of business major are influenced by earnings, prestige and career advancement (Tan Laswad, 2006, Maudlin et al 2000, Felton et al, 1994). Noland et al (2003)  find the factors influencing major selection by accounting and information systems majors are long- term salary possibilities, prestige of the profession, job security, and starting salary; the influence of a professor, family members and difficulty of the subject matter are rated much lower. Kim et al (2002) conducted a study on business majors (accounting, finance, general business, management, marketing, management information system and double major). They discovered that the top five reasons for choosing a major were: interest in a career, good job opportunities, good fit with respondents abilities, a desire to run a business some day and projected earnings in the related career. The least selected reasons for choosing a major were the  reputation of the major at the university, the perceived quality of instruction, the parents influence, the amount and type of promotional information and the influence of friends. 2.4 Perception of Accounting Accounting education has been the subject of considerable debates since 1980s. Prior researches document that introductory accounting students have negative perception of accounting. Accounting is attractive to the students in terms of profession but the negative views regarding the nature and role of accounting persist (Fisher Murphy, 1995:58). Societys perception of the legitimacy of the accounting profession and its members is grounded in the verbal and visual images of accountants that are projected not only by accountants themselves but also by the media. How accountants are portrayed in media have a significant impact on the accounting profession. Typically, accountants have been referred to as number crunchers, focusing on numerical accuracy, routine recording and calculation methods. Abrecht Sack (2000), Cory (1992), Garner Dombrowski (1997) attribute the negative perception to misinformation or lack of information about accounting and the duties performed by accountants. To date, efforts by professional accounting bodies and firms to change the negative and inaccurate perception of accountancy and accountants have yielded limited success (Jackling Calero, 2006). Byrne Willis (2005) maintain that the public view of accountants is generally negative and that this perception might discourage potential students from studying the subject. Similarly, Cohen Hanno (1993) find that the perception of accounting as boring and excessively number- oriented might lead student to choose other majors than accounting. Furthermore, the traditional view of accounting as involving precision and order has been found to drive creative people away from the profession. In addition, many bright young people are seeking careers in professional fields other than accounting as a result of the poor image of the accounting profession (Saemann Crooker 1999, Cohen Hanno,1993).The personal image of accountants and how they market themselves are more important than the price, product and Smart.Anyone whose success depends upon or requires the cooperation of another individual or group needs a positive personal image. Unfortunately, high-quality students hardly ever perceive accountants as they perceive themselves. People regard accountants as boring, middle- aged men sitting in a back office with a calculator and a stack of flies. As a consequence, the accounting profession does not always attract high quality students. Whether a person chooses to pursue an accounting career may be determined by the image of accountants in the media. Byrne Willis (2005) find that perceptions of accounting are influenced by factual media. Mathus Fowler (2009) find that the portrayal of accountants in the media could be recalled by the sampling group. Tan Laswad (2009) in an extension of their 2006 study survey university students at the beginning and end of their degree. The comparisons between accounting and non accounting students reveal that those who intended to major in accounting generally hold positive attitudes towards the accounting profession. Tan Laswad (2009) found that a higher proportion of accounting students decide on their major  prior to university study. Therefore they recommended that the accounting profession should promote the positive aspects of accounting career not only to pre-university students but also to the public as this strategy would enhance the public profile of members of the profession. 2.5 Status of accounting compared with other professions Students are more likely to aspire to a career that is held in high esteem by society. In the Byrne Willis (2005) study, accounting students ranked accounting ranked 5th and non-accounting students ranked it 7th among ten professional courses. Irish high schools ranked accountants behind doctors, lawyers, dentists and architects as professionals. In the United States, the Gallun organization (1991) reported that both high school and university students rated the accounting profession last among six professions of law, medicine, teaching, engineering, financial planning and accounting. In a New Zealand study, the accounting profession was ranked lower in social status compared to the profession of law, medicine and engineering by high school teachers. This was also the view of high school teachers in the United States (Hardin et al, 2000) and Japan (Sagahara et al, 2006) 3. Methodology The population of interest comprised all accounting students in three (3) universities: University of Benin (UNIBEN), Igbinedion University Okada (IUO) and Ambrose Alli University (AAU). The sample size was made up of three hundred (300) full and part-time accounting students from these universities. The total number include: two hundred (200)  accounting students from UNIBEN, fifty (50) from IUO and fifty (50) students from AAU. The data for this study was mainly from the administration of questionnaire. A total of 300 questionnaires were administered and retrieved from the respondents representing a response rate of 100%.The likert scale  type close ended questions was used .The data was analysis using percentage analysis, independent t-test and regression analysis.The t-test was used to find out if there was significant difference between male and female accounting students in the choice of accounting. The descriptive statistics of the respondents is shown in table 1 below.

Piping Plover :: essays papers

Piping Plover Background Information Piping plovers are small shorebirds that usually lives on sandy beach and is considered to be endangered. It has a pale color that blend perfectly with dry beach sand. During the spring and summer, it appears to have a single black neckband and a narrow black band across its forehead. The plover’s bills and legs are yellowish but their bills have a black tip. During their flight its rump is white in color. The sexes appear similar, in both their size and color. During the winter, their legs and bill gets darker. Piping plovers are seen in small flocks or singularly. Food Piping plover eats insects, marine worms, mollusks, or small crustaceans. Habitat and nesting place During the warm season (summer), piping plovers usually lives and nest on the sandy beaches, shores of the Great Lakes, major rivers, or the prairies. They usually breed on dry sandy beaches and in the winter, they settle along the shores of southeastern United States. The piping plover usually nests on the sandy beach, some distance away from the water and is often located near a large rock or clump of grass. There are usually 4 eggs in the nest. The eggs begin to hatch for 25 to 30 days. Why are they endangered? Piping Plovers are endangered because of habitat loss and degradation. Homes and roads are being built onto their habitat. Off-road vehicles run over and destroy their nest. As a result, their habitat is being destroyed, leaving them with no place to live and to nest their young. They are also being disturbed by human activities near their habitat. Some people even step on their nest and bringing pets that kill the chicks and destroy the eggs. As these things kept on happening, their population started to decrease. When did it get on the list? The United States Fish and Wildlife Service listed the piping plovers as endangered in 1985. Recovery Plans Some of the plans that protected the piping plover were the closing of beaches, and making public announcements. Several beaches were reserved for these birds, including some of the coastal beaches in Massachusetts. This helped the piping plover from being disturbed and from loosing their habitat. As a result their survival rate and reproduction increased. Another plan was making public announcements to alert people about the extinction of piping plovers. This made people to be more careful when they see one and not to disturb them.

No Link Between Autism and Vaccination

According to the World Health Organization and the American Psychological Association, autism is a developmental disability, manifesting itself before the age of three, and resulting from a disorder of the central nervous system.   The developmental disability is diagnosed with the use of specific criteria for impairments in the areas of communication, basic social interaction, the interests of affected individuals, and their imagination as well as activities.   Autistic children are known to be slow at basic processes like language acquisition that healthy children are known to learn quickly (â€Å"Autism†). The causes of autism are controversial, which is why it is possible for people to formulate a host of theories on the causes of this developmental disability (â€Å"Autism†).   A British study published in February 1998 was misinterpreted by countless people who believed that the data provided proof that the measles, mumps, rubella (MMR) vaccine was responsible for autism in children.   The study was conducted by a team of thirteen scientists with Dr. Andrew Wakefield of Oxford University as the team leader. After it was discovered that parents had begun to fear the MMR vaccine because a debate had been waged with regards to the data presented in their study, ten of the thirteen authors of the study report made the following statement which was published on the BBC website: â€Å"We wish to make it clear that in this paper no causal link was established between MMR vaccine and autism, as the data were insufficient† (Jackson). The demand for vaccination fell in the United Kingdom after the data in the above mentioned study had been misunderstood, and the misinterpreted information had been publicized.   This meant that children could no longer be protected from measles, mumps, and rubella.   In point of  fact, it was found that a significant number of families had entirely given up on the idea of vaccination for their children. Some parents had opted for single vaccines rather than the MMR at the time, but health organizations and the UK government warned that even single vaccines put children at risk (Burke).   What is more, even some doctors in the United States had begun to believe that the MMR vaccination was responsible for autism.   Globalization had spread the rumor overseas.   According to Dr. Mary Megson from Virginia, The segment of children with â€Å"regressive autism,† the form where children develop normally for a period of time then lose skills and sink into autism, most commonly at 18-24 months of age, is increasing at a phenomenal rate.   I am seeing several children in the same family affected, including in the last week four cases of â€Å"autistic regression† developing in four-year-old children after their MMR and DPT vaccination.   In the past, this was unheard of. The doctor from Virginia advised that the implementation of safe vaccine policies should become a first priority, seeing that vaccination cannot be kept away from children (Megson).   The doctor had believed that there was definitely a link between autism and vaccination.   As a matter of fact, many doctors believed what Dr. Megson had believed.   This is because the link between MMR vaccination and autism was that of â€Å"coincidental-timing.†Ã‚   In other words, the symptoms of autism began to occur around the same time as the vaccination. Hence, parents began to falsely believe that the vaccine was indeed responsible for autism.   Dr. Ken Haller, who works as a primary care pediatrician with the Cardinal Glennon Children’s Hospital explained  the false belief thus: â€Å"When something terrible happens to a child, everyone wants a reason for it†¦Ã‚   As a physician, it's very difficult for me, when I see a kid who's diagnosed with autism or a seizure disorder, to say we have no idea why this happened.   But people want to grasp onto something; that's human nature. (Jackson)† The â€Å"insufficient† data in the study conducted by Dr. Wakefield and his colleagues could not find a link between autism and vaccination.   So, two different groups of investigators in the United States attempted to find out whether there was truly a link between autism and vaccination.   Dr. James A. Kaye and his colleagues at the Boston University used the United Kingdom General Practice Research Database to find out whether 254 boys suffering from autism in their study were actually suffering because of MMR vaccination. Dr. Loring Dales and her colleagues at the California Department of Health Services in Berkeley performed a similar study during the same time.   Both of these studies eventually showed that there is no link whatsoever between autism and vaccination.   The results of both of these studies actually showed that while the use of vaccination remained constant over time, the cases of autism increased dramatically among children without vaccination being responsible for the increase (Kubetin). Although it had already been clearly proven that there is definitely no link between autism and vaccination, the developed world where the debate on autism and vaccination had been waged was seeking a truly comprehensive study to show whether there really is a link between autism and vaccination, or not.   K. Madsen, A. Hvii, and M. Vestergaard report on exactly the kind of study that was being sought and finally conducted on Danish children: This is the most direct evaluation of whether MMR causes autism published to date. Though all epidemiological studies conducted in recent years have found no association between the MMR vaccine and onset of autism, design limitations have left some doubt about this issue.   This historical cohort included all Danish children born between 1991 and 1998 when prevalence rates for autism and autistic spectrum disorders were increasing.   Because of the thoroughness of the Danish system of registration, ascertainment of vaccination status and health problems was remarkably accurate and complete.   Since the cohort was composed of the entire population, both vaccinated and unvaccinated children had the same risk of autism prior to exposure to the vaccine.   Nearly all children were accounted for at the end of the study period.   Specialists using the same diagnostic classification system made the diagnosis of autism in a uniform manner. No doubt, this was the comprehensive study with ‘sufficient data’ that parents were seeking the results of.   The design of the study was virtually immaculate.   Most importantly, the study showed once again that there was no difference in the risk of autism in the children that were vaccinated verses those that were not vaccinated.   Moreover, the cases considered as part of the study were not clustered at any point after the immunization.   Madsen et al. report that the registry data that was used did not contain information on children that were suffering from developmental regression.   Hence, the issue that there might be children who show vulnerability to vaccination, could not be ruled out.   If there is a group of such children, the risk for vaccinated  children would be greater than 1.   However, the opposite turned out to be true – that is, there is definitely no risk of autism in children especially because of vaccination. Because the size of the sample of children studied was extraordinarily large, and there was no evidence to show that there is a link between autism and vaccination, Madsen et al. concluded that parents should fearlessly continue to vaccinate their children in order to avoid future outbreaks of disease.   Given that parents had previously only trusted false interpretations of the British study that had seemed to show a link between autism and vaccination, it is now time to give up the false belief entirely.   Science is based on real facts, which is why we all trust scientific information. We have been shown through several studies that there is certainly no link between autism and vaccination.   There have been more studies of the same kind with the same results that we have not discussed.   Future studies may similarly show that there is no link between autism and vaccination.   Even so, parents cannot keep their children from immunization waiting for future studies of the same kind, churning out the same results.   The future of children is at stake without vaccination.   The scientific evidence that has been found thus far is sufficient. Works Cited â€Å"Autism.† (2007). Wikipedia. Retrieved from http://en.wikipedia.org/wiki/Autism. (4 April 2007). Burke, Maria. â€Å"Every parent's choice? Autism and vaccination — the jury's out.† Chemistry and Industry (2002, February 18). Jackson, Harry Jr. â€Å"Debate on autism and vaccination started after British medical study.† St. Louis Post-Dispatch (2004, May 28). Kubetin, Sally Koch. â€Å"MMR Vaccination Not Tied to Rise in Autism Rate.† Clinical Psychiatry News (2001, July 1). Madson, K., A. Hvii, and M. Vestergaard. â€Å"There is little evidence that combined vaccination against measles, mumps, and rubella is associated with autism.† Evidence-Based Mental Health (2003, May 1). Megson, Mary. â€Å"Autism and Vaccinations.† The Weston A. Price Foundation (2004, March 16). Retrieved from http://www.westonaprice.org/children/index.html. (3 April 2007).         

Bill Miller and Value Trust

? Bill Miller and Value Trust Background Information Bill Miller is one of the most renowned professional fund managers. This can be proven by the outperformance of the Value Trust, which is managed by him, compared to its benchmark index, the Standard & Poor’s 500 Index (S&P 500), for an astonishing 14 years in a row; and this marked the longest streak of success for any manager in the mutual-fund industry. By the middle of 2005, Value Trust is worth $11. 2-billion. Bill Miller’s approach to investment management was research-intensive and highly concentrated. For instance, nearly 50 percent of Value Trust’s assets were invested in just 10 large-capitalization companies. While most of Bill Miller’s investments were value stocks, he was not averse to taking large positions in the stocks of growth companies. In other words, Bill Miller’s investing style is iconoclastic: â€Å"You simply can’t do what he’s done in the supremely competitive, ultra-efficient world of stock picking by following the pack†¦The fact is that Miller has spent decades studying freethinking overachievers, and along the way he’s become one himself. † Mutual Funds Definition A mutual fund is an investment vehicle that pooled the funds of individual investors to buy a portfolio of securities, stocks, bonds, and money-market instruments to meet specific investment objectives; investors owned a pro rata share of the overall investment portfolio (Bruner, 2007). The various investments included in a fund’s portfolio are handled by professional money managers in line with the stated investment policy of the fund. All mutual funds have a portfolio manager, or investment advisor, who directs the fund’s investments according to explicit investment objectives. Mutual Fund Types Investors have different objectives, so various types of mutual funds are needed to help them achieve their goals. Most mutual funds fit into one of three basic categories: money market mutual funds, bond funds, and stock funds. Money market mutual funds hold cash reserves, or short-term debt investments issued by the government, corporations, or financial institutions (i. e. , U. S. Treasury bills and bank certificates of deposit). Bond funds invest in debt instruments issued by corporations or government agencies. Stock funds are one of the most popular types of mutual funds, ranging from relatively conservative equity income funds to value funds, growth funds, aggressive growth funds, small-company funds, and international funds (Hirschey and Nofsinger, 2008). Advantages of Mutual Funds Diversification Using mutual funds can help an investor diversify their portfolio with a minimum investment. When investing in a single mutual fund, an investor is actually investing in numerous securities and spreading investment across a range of securities can help to reduce risk but will never completely eliminate it. If a few securities in the mutual fund lose value or become worthless, the loss maybe offset by other securities that appreciate in value. Professional Management Mutual funds are managed and supervised by investment professionals. As per the stated objectives set forth in the prospectus, along with prevailing market conditions and other factors, the mutual fund manager will decide when to buy or sell securities. This eliminates the investor of the difficult task of trying to time the market. Furthermore, mutual funds can eliminate the cost an investor would incur when proper due diligence is given to researching securities. Convenience With most mutual funds, buying and selling shares, changing distribution options, and obtaining information can be accomplished conveniently by telephone, by mail, or online. Minimum Initial Investment Most mutual funds have a minimum initial purchase of $2,500 but some are as low as $1,000. Disadvantages of Mutual Funds Risks and Costs Changing market conditions can create fluctuations in the value of a mutual fund investment. There are fees and expenses associated with investing in mutual funds that do not usually occur when purchasing individual securities directly. There are drawbacks associated with mutual funds: No Guarantees. The value of mutual fund investment could fall and be worth less than the principle initially invested. The Diversification â€Å"Penalty†. Diversification can help to reduce your risk of loss from holding a single security, but it limits your potential for a â€Å"home run† if a single security increases dramatically in value. Costs. In some cases, the efficiencies of fund ownership are offset by a combination of sales commissions, redemption fees, and operating expenses. If the fund is purchased in a taxable account, taxes may have to be paid on capital gains. Expenses Because mutual funds are professionally managed investments, there are management fees and operating expenses associated with investing in a fund, which is called expense ratios ranging from 0. 2% to 2. 0%. These fees and expenses charged by the fund are passed onto shareholders and deducted from the fund’s return. Taxes As a fund shareholder, you can be taxed on distributions of dividends and/or capital gains made by the fund and profits you make when you sell the fund shares. Research Hypothesis 1. There is a possibility that his overall performance may be affected because of Bill Miller’s choice of concentrating heavily in certain sectors such as financials, health, consumer goods, and telecommunications. 2. By examining and analyzing various theoretical explanations, we will be able to determine whether Bill Miller’s success is dependent on luck and/or skill and whether it is sustainable or not. Evaluation of Bill Miller’s Performance Bill Miller’s results seemed to contradict conventional theories, which suggested that, in markets characterized by high competition, easy entry, and information efficiency, it would be extremely difficult to beat the market on sustained basis. Efficient Market Hypothesis (EMH) There are three levels of market efficiency which were distinguished by the degree of information believed to be reflected in current securities’ prices. The weak form of efficiency maintained that all past prices for a tock were impounded into today’s price. The semistrong form of efficiency held that today’s prices reflected not only all past prices, but also all publicly available information. The strong form of efficiency held that today’s stock price reflected all the information that could be acquired through a close analysis of the company and the economy. Many scholars argued that the sock market followed a â€Å"random walk†, where the price movements of tomorrow were essentially uncorrelated with the price movements of today. They argued that capital markets’ information was efficient, and that the insights available to any one fundamental analyst were bound to be impounded quickly into share prices. If EMH were correct and all current prices reflected the true value of the underlying securities, then arguably it would be impossible to beat the market with superior skill or intellect. â€Å"In such a market,† as one economist said, â€Å"We would observe lucky and unlucky investors, but we wouldn’t find any superior investment managers who can consistently beat the market. Yet, Bill Miller, who over long periods, greatly outperformed the market. In reply, Malkiel suggested that beating the market was much like participating in a coin-tossing contest where those who consistently flip heads are the winners. Malkiel suggested that the success of a few superstar portfolio managers could be explained as luck. Similarly, the stock-market crash on October 1987 had also seemed to undermine t he strength of the EMH. Academic research exposed other inconsistencies with the EMH, for example, January effect, blue Monday effect, etc. Those results were inconsistent with a random walk of prices and returns. Bill Miller was an adherent of fundamental analysis; his approach was research-intensive and highly concentrated. Nearly 50% of Value Trust’s asserts were invested in just 10 large-capitalization companies. Analysis of Bill Miller’s Key Strategies Bill Miller, portfolio manager for Legg Mason Value Trust, had a great track record for an astonishing fourteen years in a row. He was the only active mutual fund manager to have consistently beaten the S&P 500 over the last fourteen years. Bill Miller pointed out that his streak was due to luck; 95 percent luck. This section will evaluate Bill Miller’s investment philosophies and whether he is just plain lucky or it is based on luck and sustainability. The figure below lists the categories in which Bill Miller has invested in and the annual returns each category receives: As can be seen in the figure above, Value Trust has a portfolio that is highly volatile. Although highly volatile, the concentrated portfolio still showed outperformance when judged by calendar years, thus giving an ominous sign that the outperformance is not the result of good stock picking, but merely the result of taking on greater risk than the market as a whole. Bill Miller’s investment philosophy to build up Value Trust is to consistently buy cheap stocks, and focused on established companies suffering through periods of poor performance. These judgments resulted in Value Trust’s outperformance for fourteen years. However, taking risks (i. . having a highly concentrated volatile portfolio) and underperforming the value style (i. e. buying cheap stocks from companies suffering through periods of poor performance) is not a good combination and could hurt him later on. One might think that Bill Miller’s investment philosophy could be a â€Å"value trap†, mistaking a more or less permanent change in value or industry conditions for a tempora ry one. The bulk of Bill Miller’s portfolio is from consumer (i. e. homebuilding) and financial categories. These stocks tend to trade at cheap prices. Furthermore, the housing bubble began inflating in mid 1990’s, thus making it an easy way for investors like Bill Miller to make money. This event led to further success of Value Trust despite the high level of volatility. Investment Philosophies Buy low-price, high intrinsic-value stocks Bill Miller tends to invest in stocks that are undervalued by the market. People believe that a business is broken, scandal, but the company is still able to generate positive future cash flows. He buys low and sell high. The market price in long run still imitates the value of the firm. Take heart in pessimistic markets Bill Miller tends to invest in stocks that have the least promising outlook and sell those stocks that have the greatest opportunity for near-term gain. In other words, Bill Miller is investing in stocks that have the greatest opportunity for long-term gain instead of near-term gain. Remember that the lowest average cost wins The lower the shares go, the higher the future rate of return and the more money you should invest in them. When a stock drops and he believes in the fundamentals, the case for future retunes goes up. Again, market price in long run still imitates the value of the firm. Buy low-expectation stocks When the market’s been down for a while, and it looks bad, then you should be more aggressive, and when it’s been up for a while, then you should be less aggressive. Bill Miller thinks buying low-expectation stocks, buying higher dividend-yielding stocks, staying away from things with high expense ratios. Take the long view Bill Miller tends to hold onto stocks he invested in for a long period of time which results in a low portfolio turnover. According to him, the biggest opportunity for investors is really thinking out longer term. Look for cyclical and secular underpricing Bill Miller tends to invest in stocks that are undervalued or mispriced. He believes that most growth people own stocks that are secularly underpriced; things that can grow for long periods of time. Behavioural Finance Bill Miller’s educational background in Philosophy and Economics and his active involvement in the study of Behavioural Finance reflect his investment strategy. During Bill Miller’s Investment Conference in 2004, he remarked that â€Å"I believe that every exploitable anomaly in the market is behaviourally based. This is the only way that sustainable anomalies can be created. These are the anomalies that are not easily arbitraged away. One of the most remarkable behavioural anomalies that we see is that people take today’s data (e. g. , the GDP report, the unemployment report) and concludes that the market is getting ahead of itself. The market does not look at today’s data. It is looking at the data down the road. † This statement demonstrates that his belief that the market reflects the available information fairly accurately in the short term. In addition, he remarked that â€Å"Because the market looks forward, because the market discounts, and because the market prices reflect, in essence, the data refracted through the decision procedures and emotions of investors, then the market will change as the world changes because it is incorporating new information. † With this statement, it appears that Bill Miller expresses a partial belief in the EMH, unlike Warren Buffet. Value Investing As what was stated in the case, Bill Miller has been following an approach to equity investing and followed a number of strategies, specifically Ben Graham’s. Bill Miller analyzes and evaluates the stocks performance in the long run which explains his strategy of buying low, with high intrinsic value. In addition, he has been holding onto stocks for a longer period than an average fund manager, hence a low turn-over rate which explains his strategy of taking the long view. Conclusion By comparing Miller’s investment philosophy with Warren Buffett’s, there is one thing that makes Buffett’s investment philosophy more applicable and Miller’s philosophy a â€Å"swing-for-the-fences† approach. Miller should look at a company’s financials before making an investment. His view of welcoming negative sentiment about companies and buying stocks as their prices fall failed to look at the company’s liquidity. The company could have issues with high levels of debt and poor financials. Even though if for instance, some of his stocks (due to volatility) have failed to meet his expectations (a â€Å"stinker†), the inflated housing bubble that grew during the 1990s caused high levels of annual return could still make the overall performance of Value Trust successful compared to the others. Thus, given the nature of his concentrated portfolio, his long outperformance can be seen as a random variable, or â€Å"luck†. There are approximately 8,044 mutual funds out there; and 4,600 of these were U. S. equity mutual funds. Thus, there is a 50 percent chance of beating the market. Since Bill Miller has outperformed its competitors over fourteen consecutive years, how come no one has followed in his footsteps?

Writing and Selling Your Mystery Novel

Writing and Selling Your Mystery Novel Writing and Selling Your Mystery Novel Writing and Selling Your Mystery Novel By Maeve Maddox Some novelists like to begin with a blank page and see where their thoughts take them. This approach may be good enough to get started, but if its a mystery you want to write, sooner or later youll need a plan. Before you get too far, you may want to check out Hallie Ephrons Writing and Selling Your Mystery Novel: How to Knock em DEAD with Style. The creator of forensic psychologist, Dr. Peter Zak (Delusion, Amnesia, Addiction, and Obsessed) Ephron lays out a four-part approach to the essentials of planning, writing, and selling a mystery novel: Part I: Planning Part 2: Writing Part 3: Revising Part 4: Selling In addition, an appendix of resources includes lists of authors groups, agents, and contests. Part 1 leads the writer through the steps of setting up the premise, devising the plot, and establishing the cast of characters. Specially designed forms simplify the process of working out characters and their relationships to each other and to the crime. To Outline or Not to Outline? Ive heard writers insist they never outline their novels, but just let the characters take over. Ephron says she wishes her characters would take over, but they never do, so she outlines. An outline neednt be that kind of horror with Roman numerals and neatly-balanced sub-topics that the English teachers of my youth were so fond of. Ephrons outlines are for her eyes only. She numbers each scenearabic numerals are just fineand briefly notes the following: time of day setting characters in the scene what happens which character has the point of view Part 2 addresses such writing techniques as how to write a dramatic opening, how to introduce characters, how to dramatize scenes, and how to write suspense. Part 3 provides a practical, easy-to-follow plan for revision. This section warns the writer against beginning revision with a word tweaking approach: Its tempting to open up your document and start editing, tweaking word choices and punching up sentences. Instead, Ephron recommends these three techniques: Reread from start to finish, examining the main plot and central character. Create a scene-by-scene outline and analyze the chronology and pacing. Take multiple selective read-throughs, leapfrogging through your manuscript looking at subplots and characters. The suggestions for marketing the finished mystery in Part Four are gleaned from Ephrons personal experience as the author of the Dr. Zak mysteries. She tells how to target agents and how to put together a query packet. She includes a sample query letter and sample summaries. Finally, Ephron acknowledges the truth that the effort to sell a book can be as much of an endurance test as writing one, but urges persistence: The race goes not to the clever or swift but the bullheaded and persistent who dont know enough to give up. You can find the book on Amazon.com Want to improve your English in five minutes a day? Get a subscription and start receiving our writing tips and exercises daily! Keep learning! Browse the Book Reviews category, check our popular posts, or choose a related post below:100 Exquisite AdjectivesIs There a Reason â€Å"the Reason Why† Is Considered Wrong?Threw and Through

Einstein Proposes His Theory of Relativity

Einstein Proposes His Theory of Relativity In 1905, Albert Einstein, a 26-year-old patent clerk, wrote a paper that revolutionized science. In his Special Theory of Relativity, Einstein explained that the speed of light was constant but that both space and time were relative to the position of the observer.   Who Was Albert Einstein? In 1905, Albert Einstein was not a famous scientist actually, he was quite the opposite. Einstein had been an unpopular student at the Polytechnic Institute, at least with the professors, because he wasnt shy about telling them he found their classes dull.  That was why when Einstein (barely) graduated in 1900, none of his professors would write him a recommendation letter. For two years, Einstein was an outcast of sorts and was very lucky to finally get a job in 1902 at the Swiss Patent Office in Bern. Although he worked six days a week, the new job allowed Einstein to get married and start his family. He also spent his limited free time working on his doctorate. Despite his future fame, Einstein seemed an undistinguished, 26-year-old, paper pusher in 1905. What most did not realize was that in between work and his family life (he had a young son), Einstein worked diligently on his scientific theories. These theories would soon change how we viewed our world. Einstein's Theory of Relativity In 1905, Einstein wrote five articles and had them published in the prestigious Annalen der Physik (Annals of Physics). In one of these papers, â€Å"Zur Elektrodynamik bewegter Koerper† (â€Å"On the Electrodynamics of Moving Bodies†), Einstein detailed his Special Theory of Relativity. There were two main parts of his theory. First, Einstein discovered that the speed of light is constant. Secondly, Einstein determined that space and time are not absolutes; rather, they are relative to the position of the observer. For example, if a young boy were to roll a ball across the floor of a moving train, how fast was the ball moving? To the boy, it might look like the ball was moving at 1 mile per hour. However, to someone watching the train go by, the ball would appear to be moving the one mile per hour plus the speed of the train (40 miles per hour). To someone watching the event from space, the ball would be moving the one mile per hour the boy had noticed, plus the 40 miles an hour of the speed of the train, plus the speed of the Earth. E=mc2 In a follow-up paper also published in 1905, â€Å"Ist die Traegheit eines Koerpers von seinem Energieinhalt abhaengig?† (â€Å"Does the Inertia of a Body Depend Upon Its Energy Content?†), Einstein determined the relationship between mass and energy. Not only are they not independent entities, which had been a long-held belief, their relationship could be explained with the formula Emc2 (Eenergy, mmass, cspeed of light). Einsteins theories not only changed Newtons three laws and transformed physics, it became a foundation for astrophysics and the atomic bomb.

Marketing Strategy of Tesco Case Study Example | Topics and Well Written Essays - 3000 words

Marketing Strategy of Tesco - Case Study Example From its humble beginnings, Tesco Plc has gained the reputation of being the largest British retailer in terms of global and local shares. It is estimated that in every 8 UK retail sales, 1 is spent on Tesco (Tesco Plc 2007). Recognizing the growth opportunities in the virtual marketplace, the giant retailer has decided to establish online presence during 1994. Three years after, Tesco has started an online shopping which it named Tesco Direct (Tesco Plc 2007). Since then, Tesco has started offering grocery and food items in its virtual store, Tesco.com. On August 2006, the company announced the offering of non-food items in its online store under the name Tesco Direct. This marketing strategy has proved to be very efficient and profitable for the retailing giant. During the fiscal year 2006, the company announced a total annual turnover of 33.974 billion and reported a pre-tax profit of 1.962 billion. Out of this, 1.2 billion is shared by Tesco.com in terms of total revenue and 83 million in terms of profit. Even though the share of Tesco.com is meagre compared to total turnover and profit generated by Tesco Plc, its growth has been remarkable. The fiscal year 2006 reports online sales double-digit growth of 29.2% while profits soar by 49.5% (Tesco Plc Annual Report 2006). Compared to its rivals in the UK retail industry, Tesco.com captures a higher market share at 65%. Walmart-owned Asda chain lags behind with 16% while Sainsbury corners 14% (Best 2006). Its success has also been documented as it has been named the only retailer which has been able to make online shopping profitable (Walker 2006). On Crossroads: Evaluating Local and Global Opportunities The recent trends and developments in the global market stress the huge emerging opportunities in online retailing. In the UK alone, there has been a sharp rise in the number of people who are "cash rich but time poor" which triggers the higher demand for online shopping (Muncaster 2006). According to the National Statistics Office, the online market is still in the growth stage as only about 20% of adults in UK source food products from the internet (Best 2006). This improvement heats up competition in the local market as industry players battles for market share by launching aggressive strategies and enhancing the overall customer shopping experience. As a global player, Tesco Plc also eyes geographical expansion of its online shopping service by the identification of the profitable markets. In the global economy, it should be noted that internet usage has skyrocketed by 208.7% during the interval of 2000 to 2007 (Internet Usage Statistics 20007). Growth has been very significant in the highly developing Asian and Latin American countries including China, India, and Brazil. It is expected that the wide acceptance and popularity of the internet technologies in this country together with the sharp increase in disposable incomes in these regions will attract global retailers. Faced with these opportunities and challenges in the local and global market, Tesco Plc chooses the strategic direction